Category: Business

  • MIL-OSI: Vastrell Securities Strengthens Asia-Pacific Presence with Enhanced Localized Financial Services

    Source: GlobeNewswire (MIL-OSI)

    DENVER, June 16, 2025 (GLOBE NEWSWIRE) — Vastrell Securities (VRS), a global leader in comprehensive financial services and a wholly-owned subsidiary of Morgan Stanley, today announced an accelerated expansion plan across the Asia-Pacific region. This initiative reflects VRS’s long-term commitment to the region’s economic potential and its rapidly evolving investment demands.

    Founded in 2003, VRS has built a reputation for delivering high-value, diversified financial solutions to clients worldwide. In Asia-Pacific, VRS already operates across key markets such as Hong Kong, Singapore, Japan, and South Korea, offering services in equities, fixed income, asset management, cross-border advisory, and wealth planning.
    “Our clients in Asia are seeking more tailored, tech-driven, and strategic investment guidance,” said John T. Levine, CEO of Vastrell Securities. “We aim to integrate global best practices with localized expertise, driving smarter performance and delivering sustainable value.”
    Key highlights of the enhanced Asia-Pacific strategy include:

    1. Expanding Local Advisory Teams: VRS will enhance regional staffing with multilingual, market-savvy financial advisors to better address local investor needs.
    2. Deploying Intelligent Investment Tools: With AI-driven analytics and real-time risk management, clients gain improved trading accuracy and transparency.
    3. Accelerating ESG and Green Investment Offerings: In response to global sustainability goals, VRS will launch diversified ESG portfolios to support socially responsible investors.

    VRS expects its Asia-Pacific business to grow by over 30% in the next three years, particularly in areas such as long-term wealth structuring, retirement planning, and family office services.
    As a key strategic arm under Morgan Stanley’s global expansion plan, VRS remains committed to delivering professional excellence, client-first service, and technological innovation in one of the world’s most dynamic economic regions.

    Media Contact:

    Company name: Vastrell Securities

    Official website: https://www.vastrellsecurities.com/

    Corporate email: support@vastrellsecurities.com

    Disclaimer: This press release is provided by Vastrell Securities. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

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    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd9ab0a0-075c-45f2-81f2-2619b3e0b099

    The MIL Network

  • MIL-OSI Banking: Reserve Bank of India relocates its Andhra Pradesh Regional Office to Vijayawada, Andhra Pradesh

    Source: Reserve Bank of India

    Today, Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India (RBI), inaugurated the new office of the Reserve Bank in Vijayawada, Andhra Pradesh.

    The Regional Office shall be functioning at Vijayawada with Integrated Banking Department (IBD), Financial Inclusion and Development Department (FIDD), Foreign Exchange Department (FED), Department of Supervision (DoS) along with Human Resource Management Department (HRMD), Centralised Establishment Section (CES), Rajbhasha Cell, Audit Budget and Control Cell (ABCC), Department of Information Technology Cell (DIT) and Protocol & Security Establishment (P& SE). The currency management for the state of Andhra Pradesh will continue to be conducted by the RBI’s office in Hyderabad.

    The Regional Office is headed by Shri Attah Omar Basheer, Regional Director whose contact details are given below:

    Postal Address: –
    The Regional Director
    Reserve Bank of India
    ‘Stalin Central’,
    D. No: 27-37-158, MG Road,
    Governorpet, Vijayawada
    Andhra Pradesh
    Telephone No: 0866-2523410
    E-mail

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/548

    MIL OSI Global Banks

  • MIL-OSI Asia-Pac: President Lai meets delegation led by Representative Bera, co-chair of US Congressional Taiwan Caucus

    Source: Republic of China Taiwan

    Details
    2025-06-13
    President Lai meets delegation led by French National Assembly Taiwan Friendship Group Chair Marie-Noëlle Battistel
    On the morning of June 12, President Lai Ching-te met a delegation led by Marie-Noëlle Battistel, chair of the French National Assembly’s Taiwan Friendship Group. In remarks, President Lai thanked the National Assembly for its long-term support for Taiwan’s international participation and for upholding security in the Taiwan Strait, helping make France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. The president also said that exchanges and cooperation between Taiwan and France are becoming more frequent, and that he hopes this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations and help build closer partnerships in the economy, trade, energy, and digital security.  A translation of President Lai’s remarks follows: First, I would like to welcome Chair Battistel, who is once again leading a visiting delegation. Last year, Chair Battistel co-led a delegation to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao. This is her fourth visit, and first as chair of the Taiwan Friendship Group, which makes it especially meaningful. This delegation’s visit demonstrates strong support for Taiwan, and on behalf of the people of Taiwan, I want to express my sincerest welcome and thanks. France is a pioneer in promoting free and democratic values. These are values that Taiwan cherishes and is working hard to defend. I want to express gratitude to the French Parliament for their long-term support for Taiwan’s international participation, and for upholding security in the Taiwan Strait. The French Parliament’s two chambers have continued to strongly support Taiwan, with the passage of a resolution supporting Taiwan’s participation in international organizations in 2021, as well as the passage of the seven-year Military Programming Law in 2023. This has made France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. Through it all, the Taiwan Friendship Group has played a key role, and I want to thank all of our distinguished guests for their efforts. Over the past few years, Taiwan and France have continued to deepen cooperation in areas including the economy, technology, culture, and sports. At the Choose France summit held in Paris last month, Taiwanese and French enterprises also announced they will launch cooperation in the semiconductor and satellite fields. The VivaTech startup exhibition, now being held in France, also has many Taiwanese vendors participating. Exchanges and cooperation between Taiwan and France, whether official or people-to-people, are becoming more and more frequent. I hope that this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations, building closer partnerships in the economy, trade, energy, and digital security.  To address current geopolitical and economic challenges, Taiwan will continue to join forces with France and other like-minded countries to jointly safeguard peace and stability in the Indo-Pacific region, and contribute our concerted efforts to global prosperity and development. Once again, I want to welcome our visitors to Taiwan. I hope to continue our joint efforts to create a more prosperous future for both Taiwan and France.   Chair Battistel then delivered remarks, thanking President Lai for extending this invitation. Last year on May 20, she said, she and her delegation attended the presidential inauguration ceremony, so she was delighted to visit Taiwan once again with the French National Assembly’s Taiwan Friendship Group and bear witness to their friendship with Taiwan. Chair Battistel noted that this visit has given them an opportunity to strengthen Taiwan-France relations in areas including the economy, culture, the humanities, and diplomacy, and conduct exchanges with numerous heads of government agencies and research institutes. It has also been an opportunity, she said, to witness the importance of exchanges and cooperation with Taiwan in areas including energy, semiconductors, youth, and culture, and the impact created by important issues of mutual concern, including AI and disinformation, on the security of many countries. Chair Battistel praised Taiwan for its youth development efforts, and said that under the Taiwan Global Pathfinders Initiative, 30 Taiwanese young people have embarked on a visit to France, with itineraries including the United Nations Ocean Conference and the VivaTech exhibition, as well as the city of Toulouse, which is strategically important for the aerospace industry. Members of the group are also conducting exchanges at the French National Assembly, she said.  Chair Battistel stated that the Taiwan-France partnership is growing closer, and that she hopes to continue to strengthen bilateral exchanges and cooperation, as supporting peace for Taiwan supports peace around the world.  The delegation also included Taiwan Friendship Group Vice Chair Éric Martineau, as well as National Assembly Committee on Foreign Affairs Vice Chair Laetitia Saint-Paul and Deputies Marie-José Allemand and Claudia Rouaux. The delegation was accompanied to the Presidential Office by French Office in Taipei Deputy Director Cléa Le Cardeur.

    Details
    2025-06-05
    President Lai hosts state banquet for President Bernardo Arévalo of Republic of Guatemala  
    At noon on June 5, President Lai Ching-te hosted a state banquet at the Presidential Office for President Bernardo Arévalo of the Republic of Guatemala and his wife. In his remarks, President Lai noted that Taiwan and Guatemala have both undergone an arduous democratization process, and therefore, in face of the continuous expansion of authoritarian influence, must join hands in brotherhood and come together in solidarity to safeguard our hard-earned freedom and democracy. President Lai also expressed hope that both countries will work together and continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. A translation of President Lai’s remarks follows: Once again, I would like to offer a warm welcome to President Arévalo and First Lady Lucrecia Peinado, who are leading this delegation to Taiwan. President Arévalo’s previous visit to Taiwan was 31 years ago. Back then, Taiwan did not have direct presidential elections, and the nation was continuing to make progress toward democratization. Today, 31 years later, Taiwan has conducted direct presidential elections eight times, with three transfers of power between political parties. On this visit, I am sure that President Arévalo will gain a deep appreciation for Taiwan’s free and democratic atmosphere.  Taiwan and Guatemala have both undergone an arduous democratization process. A little over 200 years ago, the people of Guatemala took a stand against colonial oppression, seeking national dignity and the freedom of its people. Eighty-one years ago, President Arévalo’s father, Juan José Arévalo, became Guatemala’s first democratically elected president, establishing an important foundation for subsequent democratic development.  Our two peoples have democracy in their blood. Both know the value of freedom and democracy and are willing to take a stand for those values. Therefore, in face of the continuous expansion of authoritarian influence, our two countries must join hands in brotherhood to respond to threats and challenges, and come together in solidarity to safeguard our hard-earned freedom and democracy. I hope that both countries will work together to continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. I hope that on this visit, in addition to gaining a deeper understanding of Taiwan’s political, economic, and social development, President Arévalo can also reacquaint himself with the democratic vitality and cultural diversity of Taiwan by sampling various gourmet delicacies and once again experiencing the beauty of our scenery and warmth of our people. Guatemala is a very beautiful country. In the future, I hope to have a chance to personally experience that beauty, explore Mayan civilization, and savor local Guatemalan coffee. In closing, I wish the visiting delegation a smooth and successful trip, and beautiful, unforgettable memories. May President Arévalo enjoy the best of health, and may the diplomatic friendship between our two countries endure. President Arévalo then delivered remarks, stating that at different times and by different means, the people of Taiwan and Guatemala have relentlessly sought to defend freedom and democracy. We share the same expectations, he said, and are walking the right path amid today’s complex international circumstances.  President Arévalo stated that Taiwan and Guatemala are true democratic nations, where the government’s goal is to serve all the people. He noted that this is far from easy under current circumstances, as many authoritarian regimes use their long-term hold on power to safeguard the interests of select groups and neglect the wellbeing of the population as a whole. President Arévalo said that last week Guatemala commemorated the 40th anniversary of its constitution, which was enacted in 1985 and is Guatemala’s ultimate guide, setting the foundation for democracy and clearly outlining the path ahead. He said that over the past 40 years, Guatemala has continued to follow the democratic blueprint established by the constitution and end the civil war so that the nation could make the transition to real democracy. Although more than a few ambitious people have attempted to destroy that process from within, he noted, the people of Guatemala have never given up the pursuit of democracy as an ideal. President Arévalo stated that our two sides’ coming together here is due to such shared values as freedom and democracy as well as the idea of serving all the people. He underlined that the governments of both countries will continue to work hard and provide mutual support to smooth out each other’s path of democracy, freedom, and justice. President Arévalo emphasized that the government of Guatemala will always be Taiwan’s ally, and that he firmly believes Taiwan is Guatemala’s most reliable partner on the path of democracy and economic prosperity and development. The president said he hopes this visit will be the first step towards setting a new course for the governments and peoples of both countries. Also in attendance at the banquet were Guatemala Minister of Foreign Affairs Carlos Ramiro Martínez, Minister of the Economy Gabriela García, and Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-06-05
    President Lai welcomes President Bernardo Arévalo of Republic of Guatemala with military honors  
    On the morning of June 5, President Lai Ching-te welcomed with full military honors President Bernardo Arévalo of the Republic of Guatemala and his wife, who are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. In remarks, President Lai noted that over the past few years, bilateral cooperation between Taiwan and Guatemala has grown closer and more diverse, and said that moving forward, based on a foundation of mutual assistance for mutual benefit, we will continue to promote programs in line with international trends, spurring prosperity and development in both our nations. The military honors ceremony began at 10:30 a.m. in the Entrance Hall of the Presidential Office. After a 21-gun salute and the playing of the two countries’ national anthems, President Lai and President Arévalo each delivered remarks. A translation of President Lai’s remarks follows: Today, President Arévalo and First Lady Lucrecia Peinado are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. On behalf of the people and government of the Republic of China (Taiwan), I want to extend my sincerest welcome. Last year, our two countries celebrated the 90th anniversary of diplomatic ties, providing mutual support all along the way. Especially over the past few years, bilateral cooperation has grown closer and more diverse. We have a long record of remarkable results, whether in terms of medicine and public health, education and culture, technological cooperation, or economic and trade exchanges. Moving forward, based on a foundation of mutual assistance for mutual benefit, Taiwan and Guatemala will continue to promote programs in line with international trends. We will continue to strengthen exchange and cooperation for young people, as well as scholarship programs, and actively cultivate high-tech and information and communications technology industry talent, spurring prosperity and development in both our nations. Although separated by a great distance, the peoples of both countries are closely connected by their ideals and values. I am confident that with President Arévalo’s support, bilateral exchanges and cooperation will become closer and more diverse, beginning a very promising new chapter. I wish the visiting delegation a smooth and successful trip. President Arévalo then delivered remarks, saying that on behalf of the government and people of Guatemala, he is honored to visit the Republic of China (Taiwan), this beautiful nation, and to receive full military honors, which reflects the mutual respect between our two nations as well as our solid friendship. Especially as this state visit comes as we celebrate 90 years of formal diplomatic ties, he said, he has brought the foreign minister, economics minister, private secretary to the president, and social communication secretary as members of his delegation, in the hope of our ties embarking on a new chapter. President Arévalo said that Guatemala-Taiwan ties have in recent years been growing steadily on a foundation of mutual understanding and cooperation, making significant progress, and that our peoples have also cultivated sincere friendships and cooperative relationships across many fields. Our nations are especially promoting public health, education, agricultural technology, and infrastructure, he said, key fields which are conducive to economic and social development. He expressed his hope that on such good foundations of the past, we can further strengthen our bilateral ties for the future. President Arévalo stated that through this state visit they not only want to reaffirm the good bilateral ties between our nations, but that they also hope to define a trajectory for the future of our cooperation in the direction of expanding economic cooperation, building economic and trade alliances, and facilitating investment to foster a Taiwan-Guatemala relationship that benefits both peoples. He then expressed gratitude to the people of Taiwan for helping Guatemala over the past 90 years and reaffirmed the unwavering support of Guatemala for the Republic of China (Taiwan). On the occasion of this visit, he said, he hopes to extend a friendly hand to the people of Taiwan, adding that he looks forward to our nations continuing to take major steps forward on the road of mutual assistance and prosperity. Also in attendance at the welcome ceremony were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman, and members of the foreign diplomatic corps in Taiwan.  

    Details
    2025-06-03
    President Lai confers decoration on President Hilda C. Heine of Republic of the Marshall Islands, hosts state banquet  
    At noon on June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, conferred a decoration upon President Hilda C. Heine of the Republic of the Marshall Islands, and hosted a state banquet for President Heine and her husband at the Presidential Office. In remarks, President Lai thanked President Heine for her commitment to deepening the diplomatic partnership between our nations and speaking up for Taiwan in the international arena. He also expressed hope for Taiwan and the Marshall Islands to work together to address various challenges through an even greater diversity of exchanges, and that together, we can contribute even more to peace, stability, and development throughout the Pacific region. At the decoration ceremony, President Lai personally conferred the Order of Brilliant Jade with Grand Cordon on President Heine before delivering remarks, a translation of which follows:  The Marshall Islands was the first Pacific ally that I visited after taking office as president. When I arrived there, I was immediately drawn to its beautiful scenery. And I received a very warm welcome from the local people. This gesture showed the profound friendship between our two nations. I was truly touched. I also remember trying your nation’s special Bob Whisky for the first time. The flavor was as unique and impressive as the landscape of the Marshall Islands.  In addition to welcoming our distinguished guests today, we also presented President Heine with the Order of Brilliant Jade with Grand Cordon. On behalf of the people of Taiwan, I want to thank President Heine for her commitment to deepening the diplomatic partnership between our nations, and for staunchly speaking up for Taiwan in the international arena. Both I and the people of Taiwan are profoundly grateful to President Heine for her friendship and support. Over the past few years, cooperation between Taiwan and the Marshall Islands has grown ever closer. And this visit by our distinguished guests will allow our two countries to further expand areas of bilateral exchange. I have always believed that only through mutual assistance and trust can two countries build a longstanding and steadfast partnership. I once again convey my sincere aspiration that Taiwan and the Marshall Islands work together to address various challenges through an even greater diversity of exchanges. Together, we can contribute even more to peace, stability, and development throughout the Pacific region. In closing, I want to thank President Heine and First Gentleman Thomas Kijiner, Jr. for leading this delegation to Taiwan, which deepens the foundations of our bilateral relationship. May our two nations enjoy a long and enduring friendship. President Heine then delivered remarks, stating that she felt especially privileged to receive the Order of Brilliant Jade with Grand Cordon of the Republic of China (Taiwan), and humbly accepted the honor with the utmost gratitude, humility, and deep responsibility. This is a deep responsibility, she said, because she understands that since its inception in 1933, this order has been bestowed upon a select few. She then thanked President Lai for this great honor. President Heine stated that the banquet was not just a celebration of our bilateral friendship, but a true reflection of the generosity of the Taiwan spirit and a testament to the enduring ties between our nations, founded on shared values and aspirations, including a respect for the rule of law, the preservation of human dignity, and a deep commitment to democracy. President Heine stated that the Taiwan-Marshall Islands partnership continues to evolve through practical cooperation and mutual support. In recent years, she said, our countries have worked hand in hand across a range of vital sectors, including the recent opening of the Majuro Hospital AI and Telehealth Center and the ongoing and successful Taiwan Health Center, various technical training and scholarship programs, and various climate change adaptation projects in renewable energy, coastal resilience, and sustainable agriculture.   President Heine emphasized that the Marshall Islands continues to be a proud and vocal supporter of Taiwan’s meaningful participation in the United Nations system and other international organizations. Taiwan’s exclusion from these platforms, she said, is not only unjust, but is bad for the world, and the global community needs Taiwan’s voice and expertise.  President Heine also expressed sincere appreciation to all of the Taiwanese friends who have contributed their efforts to deepening bilateral relations, including government officials, healthcare workers, teachers, engineers, and volunteers. The people of the Marshall Islands, she said, deeply appreciate and value everyone’s efforts and service. President Heine said that as we celebrate our partnership, let us look to the future with hope and determination, continue to work together, learn from one another, and support one another to champion a world where all nations can chart their own course based on peace and international law. Also attending the state banquet were Marshall Islands Council of Iroij Chairman Lanny Kabua, Minister of Foreign Affairs and Trade Kalani R. Kaneko, Minister of Finance David Paul, Nitijela Standing Committee on Foreign Affairs and Trade Chairperson Joe Bejang, and Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.  

    Details
    2025-06-03
    President Lai and President Hilda C. Heine of Marshall Islands hold bilateral talks and witness signing of agreements
    On the morning of June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Hilda C. Heine of the Republic of the Marshall Islands at the Presidential Office following a welcome ceremony with military honors for her and her husband. The leaders also jointly witnessed the signing of a letter of intent for sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund. President Lai then presided over a launch ceremony for a loan program to purchase aircraft. In remarks, President Lai thanked the government and the Nitijela (parliament) of the Marshall Islands for their longstanding support for Taiwan’s international participation and for voicing staunch support for Taiwan at numerous international venues. President Lai said that Taiwan looks forward to continuing to deepen its diplomatic partnership with the Marshall Islands and build an even closer cooperative relationship across a range of fields, engaging in mutual assistance for mutual benefits and helping each other achieve joint and prosperous development to yield even greater well-being for our peoples. A translation of President Lai’s remarks follows: I once again warmly welcome President Heine, First Gentleman Thomas Kijiner, Jr., and our guests to Taiwan. During my visit to the Marshall Islands last year, I said that Taiwan and the Marshall Islands are truly a family. When Vice President Hsiao and I took office last year, President Heine led a delegation to Taiwan. It is now one year since our inauguration, and I am delighted to see President Heine once again, just as if I were seeing family arrive from afar. Through my visit to the Marshall Islands, I gained a profound sense of the friendship between the peoples of our two nations, well-demonstrated by bilateral exchanges in such areas as healthcare, agriculture, and education. And it is thanks to President Heine’s longstanding support for Taiwan that our countries have been able to further advance collaboration on even more issues, including women’s empowerment and climate change. In recent years, the geopolitical and economic landscape has changed rapidly. We look forward to Taiwan and the Marshall Islands continuing to deepen our partnership and build an even closer cooperative relationship. In just a few moments, President Heine and I will witness the signing of several documents, including a memorandum of understanding and a letter of intent, to expand bilateral cooperation in such fields as sports, education, and transportation. Taiwan will take concrete action to work with the Marshall Islands and advance mutual prosperity and development, writing a new chapter in our diplomatic partnership. I would also like to take this opportunity to express gratitude to the government and Nitijela of the Marshall Islands. In recent years, the Nitijela has passed annual resolutions backing Taiwan’s international participation, and President Heine and Marshallese cabinet members have been some of the strongest advocates for Taiwan’s international participation, voicing staunch support for Taiwan at numerous international venues. Building on the pillars of democracy, peace, and prosperity, Taiwan will continue to work with the Marshall Islands and other like-minded countries to deepen our partnerships, engage in mutual assistance for mutual benefits, and help one another achieve joint and prosperous development. I have every confidence that the combined efforts of our two nations will yield even greater well-being for our peoples and see us make even more contributions to the world. President Heine then delivered remarks, and began by conveying warm greetings of iokwe from the people and government of the Republic of the Marshall Islands to the people and government of the Republic of China (Taiwan). She said she was deeply honored to be in Taiwan for an official visit, and extended appreciation to President Lai and his government for their gracious invitation and warm welcome. President Heine stated that this year marks 27 years of diplomatic ties between our two nations, and that they are proud of this enduring friendship. This special and enduring relationship, she said, is grounded in our shared Austronesian heritage, and strengthened by mutual respect for each other’s democratic systems and our steadfast commitment to the core values of freedom, justice, and the rule of law. President Heine stated that Taiwan’s continued support has been invaluable to the people and national development of the Marshall Islands, particularly in the areas of health, education, agriculture, and climate change. She also expressed deep appreciation to Taiwan for providing Marshallese students with opportunities to study in Taiwan, and for the care extended to Marshallese who travel here for medical treatment. President Heine also announced that she would be presenting a copy of a resolution by the people and government of the Republic of the Marshall Islands reiterating their appreciation for the support provided by the people and government of the Republic of China (Taiwan), and calling on the United Nations to take immediate action to resolve the inappropriate exclusion of Taiwan’s 23 million people from the UN system. She added that she looked forward to the bilateral discussions later that day, and to continuing the important work that both countries carry out together. After the bilateral talks, President Lai and President Heine witnessed the signing of a letter of intent regarding sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund by Minister of Foreign Affairs Lin Chia-lung (林佳龍) and Marshallese Minister of Foreign Affairs and Trade Kalani R. Kaneko. President Lai then presided over a launch ceremony for a loan program to purchase aircraft, marking the formal beginning of Taiwan-Marshall Islands air transport cooperation. The visiting delegation also included Council of Iroij Chairman Lanny Kabua, Minister of Finance David Paul, and Nitijela Standing Committee on Foreign Affairs and Trade Chair Joe Bejang. They were accompanied to the Presidential Office by Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: The EBA publishes key regulatory products on operational risk capital requirements and related supervisory reporting

    Source: European Banking Authority

    The European Banking Authority (EBA) today published three final draft technical standards that are crucial for the implementation of the EU Banking Package and will allow supervisors to monitor institutions’ compliance, thus fostering consistent and enhanced supervision.

    In particular, the EBA is publishing the following Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS):

    • RTS concerning the calculation and adjustments of the Business Indicator (BI), which is central to the standardised and harmonised application of the operational risk capital requirements.
    • ITS on the mapping to FINREP, which will ensure consistency and reduce implementation, administrative and operational costs.
    • Amending ITS on operational risk reporting, which will keep the supervisory reporting framework relevant, meaningful and aligned with the amended regulation.

    The EBA has refined the BI components, incorporating updates to accounting standards, detailed breakdowns of operational risk impacts and exclusions, as well as further clarifications on the approaches for calculating the financial component. These changes ensure comprehensive and accurate representation of operational risk in banks’ financial statements.

    When an institution undergoes a merger or acquisition, the final RTS mandate the use of actual three-year historical data or provide alternative methodologies if this is not feasible. For disposals, the final RTS outline conditions for excluding BI items related to disposed entities, while a materiality threshold for disposals is introduced, allowing adjustments without supervisory permission for minor disposals. This ensures clarity for institutions with frequent, low-impact disposals.

    The standard items for each component of the BI were matched to their respective reporting cells in FINREP, with the outcome being presented in the final ITS on BI mapping.

    The final report on supervisory reporting introduces amendments to the operational risk reporting framework, aimed at assessing compliance with operational risk own funds requirements. It enhances existing reporting requirements by requesting additional details on the calculation of business indicator components. This ensures that supervisory authorities have access to essential data to fulfill their mandates, while also considering the effort required by institutions to meet these data requirements.

    Legal basis and background

    These mandates are part of the Phase 2 of the EBA roadmap on the implementation of the EU Banking Package.

    Article 314(9)(a) and (b) of Regulation (EU) No 575/2013 (Capital Requirements Regulation, CRR), mandates the EBA to develop draft RTS to further specify the components of the BI by developing a list of items and the elements to be excluded from the BI, respectively. Article 314(10) of the CRR, mandates the EBA to develop draft ITS to provide the mapping of the items of the BI to the corresponding reporting cells in Commission Implementing Regulation (EU) 2021/451 (FINREP). Article 315(3) of the CRR3 mandates the EBA to draft RTS to specify “how institutions shall determine the adjustments to the business indicator” (point (a) of Article 315(3) referencing mergers, acquisitions and disposals), “the conditions according to which competent authorities may grant the permission” and “the timing of the adjustments” (points (b) and (c) of Article 315(3) referencing disposals only).

    Regulation (EU) No 575/2013 (‘the CRR’) as amended by Regulation (EU) 2024/1623 (‘CRR 3’) mandates the EBA, in article 430(7), to develop draft implementing technical standards to specify uniform reporting formats, and IT solutions, including instructions, for supervisory reporting requirements of institutions.

    Next steps

    After the submission of the final draft ITS to the Commission for adoption, the EBA will publish on the website the IT tools, including binding instructions. The EBA will publish during Q4 2025 a technical package, including the DPM, validation rules and taxonomy, that shall be used by institutions to submit this supervisory reporting information to supervisors. The first applicable reference date for reporting under the draft ITS is 31 March 2026.

    An updated version of the mapping tool between supervisory reporting and disclosure requirements for Operational risk will be published soon.

    MIL OSI Europe News

  • MIL-OSI: Sydbank A/S share buyback programme: transactions in week 24

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 27/2025

    Peberlyk 4
    6200 Aabenraa
    Denmark

    Tel +45 74 37 37 37
    Fax +45 74 37 35 36

    Sydbank A/S
    CVR No DK 12626509, Aabenraa
    sydbank.dk

    16 June 2025  

    Dear Sirs

    Sydbank A/S share buyback programme: transactions in week 24
    On 26 February 2025 Sydbank A/S announced a share buyback programme of DKK 1,350m. The share buyback programme commenced on 3 March 2025 and will be completed by 31 January 2026.

    The purpose of the share buyback programme is to reduce the share capital of Sydbank A/S and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

    The following transactions have been made under the share buyback programme:

      Number of shares VWAP Gross value (DKK)
    Accumulated, most recent
    Announcement

    983,000

     

    413,934,050.00

    09 June 2025 (public holiday)
    10 June 2025
    11 June 2025
    12 June 2025
    13 June 2025

    12,000
    12,000
    11,000
    11,000

    444.43
    445.49
    448.37
    448.54

    5,333,160.00
    5,345,880.00
    4,932,070.00
    4,933,940.00
    Total over week 24 46,000   20,545,050.00
    Total accumulated during the
    share buyback programme

    1,029,000

     

    434,479,100.00

    All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.

    Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and Commission delegated regulation, is available in the attachment.

    Following the above transactions, Sydbank A/S holds a total of 1,030,375 own shares, equal to 2.01% of the Bank’s share capital.

    Yours sincerely
            
    Mark Luscombe        Jørn Adam Møller
    CEO        Deputy Group Chief Executive

    Attachment

    The MIL Network

  • MIL-OSI: Espada Energy Partners Announces Commitment from Carnelian Energy Capital

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, June 16, 2025 (GLOBE NEWSWIRE) — Espada Energy Partners, LLC (“Espada”) today announced the closing of an equity commitment from an investment fund managed by Carnelian Energy Capital Management, L.P. (“Carnelian”).  

    Based in Houston, Espada will pursue an acquisition and development strategy in select onshore basins in North America. Espada is led by Kevin Goodman, who was previously a senior member of the investment team at Carnelian, as well as Geoff Vernon, who brings strong technical and operational leadership experience from prior roles at Southwestern, Earthstone and Chord.

    “We are thrilled to partner with Carnelian as we grow Espada,” said Goodman, Espada’s Chief Executive Officer. “This is a compelling time in the energy markets, and Carnelian’s flexible mandate gives us a competitive advantage in the current environment.”

    “We are excited to work with Kevin and Geoff to capitalize on the opportunity set ahead,” said Tomas Ackerman, a Carnelian Partner. “The team’s deep relationships, commercial acumen and technical expertise across a variety of basins is a real differentiator.”

    About Espada Energy Partners, LLC

    Espada Energy Partners is a Houston-based oil and gas company pursuing an acquisition and development strategy in select onshore basins in North America.   For more information, please visit www.espadaenergy.com.

    About Carnelian Energy Capital Management, L.P.

    Carnelian Energy Capital is an energy investment firm based in Houston, Texas.   With approximately $4 billion of cumulative equity commitments, Carnelian is dedicated to bringing its strategic expertise and nimble approach to partnerships with leading businesses and best-in-class management teams in the North American energy space. For more information, please contact Carnelian at info@carnelianec.com or visit www.carnelianenergy.com.

    The MIL Network

  • MIL-OSI Global: Batman Begins turns 20: Nolan’s trilogy challenged power, but still sided with the system

    Source: The Conversation – UK – By Irene Zarza-Rubio, PhD Candidate, Film Theory and Media Industries, University of York

    Christopher Nolan’s Dark Knight trilogy is often praised for bringing gritty realism and deeper political themes to superhero films. When Batman Begins premiered in 2005, it reimagined Gotham as a city undone by corruption, inequality and institutional collapse.

    The trilogy may feature masked villains and high-tech gadgets, but at its core, it grapples with what happens when the systems meant to protect people start to fail. Throughout the trilogy, each of the central villains exposes a different aspect of Gotham’s dysfunction.

    In Batman Begins, Ra’s al Ghul (Liam Neeson) sees Gotham as beyond saving, believing its destruction is the only path to renewal. In The Dark Knight, the Joker (Heath Ledger) reveals how fragile the city’s moral and social order truly is, pushing its citizens to the brink with chaos and manipulation. Then in The Dark Knight Rises, Bane (Tom Hardy) harnesses class resentment to stage a violent revolution, blaming Gotham’s wealthy elite for systemic injustice.

    While these antagonists raise serious questions about the city’s foundations, the films ultimately pull back from endorsing their challenges. Instead, they reaffirm that Gotham’s institutions, however flawed, must endure. Radical change, the trilogy suggests, is more dangerous than the corruption already in place.


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    Batman (Christian Bale) is central to this message. He doesn’t work to change Gotham’s broken structures. Instead, he tries to keep them from falling apart completely. In The Dark Knight, he faces the Joker’s chaos using extreme measures, including mass surveillance. Though he’s troubled by it, the film still frames it as necessary.

    In The Dark Knight Rises, Bane’s rebellion taps into real fears about inequality and corruption. But instead of taking those concerns seriously, the story presents them as a threat that Batman must shut down. Rather than offering hope for a better system, the film reassures audiences that the existing one, while imperfect, is still the best option.

    The original trailer for Batman Begins (2005).

    While the trilogy appears to challenge authority and institutional power, it effectively offers a reassuring message rather than a radical one. Philosopher Slavoj Žižek argued that The Dark Knight transforms a lie into a stabilising force.

    This is embodied in Batman’s decision to let the public believe he was responsible for Harvey Dent’s (Aaron Eckhart) crimes, preserving Dent’s reputation to maintain hope in Gotham’s legal system. As Batman tells Commissioner Gordon (Gary Oldman): “Sometimes the truth isn’t good enough. Sometimes people deserve more. Sometimes people deserve to have their faith rewarded.”

    The implication is clear: some truths are too dangerous, and maintaining public faith is more important than exposing systemic failure. The films do question the status quo, but only within safe boundaries. They propose that society’s problems can be managed by exceptional individuals rather than through structural reform.

    In doing so, they frame flawed institutions not as entities to be dismantled, but as pillars that must be upheld, even if only symbolically.

    Individual heroes over collective change

    You can see the trilogy’s impact in later films like Joker (2019) and The Batman (2022). Both explore the collapse of society and what happens to people caught in the middle.

    But like Nolan’s films, they centre on lone characters, not collective solutions. They continue the pattern of showing that things are broken, while still trusting that a single hero can fix them.

    Batman takes the fall for Harvey Dent’s crimes in The Dark Knight.

    Two decades after Batman Begins, the trilogy’s legacy feels more relevant than ever. As debates over truth, institutional trust and political extremism continue to dominate global headlines, Nolan’s films resonate with their portrayal of a society teetering on the edge. In an era marked by public disillusionment and the growing sense that “the system” is broken, The Dark Knight trilogy explores the discomforting idea that institutions may be flawed but necessary – and that stability sometimes requires myth, not truth.

    By positioning Batman as a lone moral figure who preserves order at great personal cost, the trilogy reflects a widespread longing for strong leadership amid institutional failure. Yet it also reveals a troubling tendency in popular culture to offer catharsis without change, examination without consequence. As viewers, we are encouraged to acknowledge the depth of societal problems – but not to demand solutions.

    In that sense, The Dark Knight remains not just a compelling superhero story, but a mirror for our continuing struggles with power, truth, and the difficult question of whether our institutions are worth saving, or simply the only ones we’ve got.

    Irene Zarza-Rubio 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. Batman Begins turns 20: Nolan’s trilogy challenged power, but still sided with the system – https://theconversation.com/batman-begins-turns-20-nolans-trilogy-challenged-power-but-still-sided-with-the-system-255271

    MIL OSI – Global Reports

  • MIL-OSI Africa: Two New World Bank Reports Offer Roadmap for Sierra Leone’s Sustainable Growth Amid Climate Threats


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    The World Bank today launched the Sierra Leone Country Economic Memorandum (CEM) and the Country Climate and Development Report (CCDR), two core analytical reports that provide essential insights into the country’s economic and climate challenges, offering strategic pathways for sustainable growth and resiliencee.

    “These reports provide a comprehensive roadmap for addressing the economic and climate challenges facing Sierra Leone,” said Abdu Muwonge, World Bank Country Manager for Sierra Leone. “While the Country Economic Memorandum highlights the interconnectedness of economic challenges and the need for ambitious reforms, the CCDR underscores the urgency of climate action. The World Bank is committed to supporting Sierra Leone in implementing these strategies to achieve inclusive growth and build resilience.”

    The CEM analyzes Sierra Leone’s economic landscape, noting persistent poverty and lower GDP per capita growth compared to similar low-income countries despite the country’s rich resources. Key challenges to growth include macroeconomic instability, driven by lax fiscal and monetary policies, weak institutions, and poor governance, with fiscal deficits often exceeding targets due to spending overruns and weak oversight. High public debt limits private investment, while a small and uncompetitive private sector restricts diversification beyond the mining. Domestic firms face growth challenges due to limited access to credit, electricity, and land, compounded by a skills mismatch in the labor force.

    To address these challenges, the report proposes a growth strategy focusing on mining, agriculture, agro-processing, and labor-intensive sectors, including:

    • Restoring macroeconomic stability through fiscal consolidation and improved debt management.
    • Recalibrating the role of the state by reevaluating state-owned enterprises and investing in climate-resilient infrastructure.
    • Enabling the private sector by improving access to infrastructure, credit, and reducing barriers to foreign investment.
    • Building human capital by enhancing education quality and aligning skills development with market demands.

    “The CEM is a vital tool in understanding the economic challenges facing Sierra Leone. The country has the resources and potential for significant economic growth, and this report provides a roadmap for achieving sustainable development while creating jobs for its expanding work force,” said Smriti Seth, World Bank Senior Economist and a lead author of both reports.

    The CCDR examines Sierra Leone’s socio-economic development prospects within the context of climate change, emphasizing impacts on agriculture, infrastructure, and the economy. Sierra Leone ranks among the 15 worst climate-affected economies, with projected temperature increases and erratic rainfall patterns threatening agriculture and infrastructure, potentially causing GDP losses of 9-10% by 2050. Economic impacts include declines in labor and crop productivity, as well as damage to capital stock from increased maintenance costs and flooding. Poverty and inequality are expected to worsen, with nearly 600,000 additional people pushed into poverty by 2050.

    To build climate resilience and mitigate the threats, the report suggests three pathways:

    • Developing green energy and sustainable cities through resilient infrastructure and renewable energy investments.
    • Promoting climate-smart agriculture by enhancing policy frameworks and investing in climate-smart technologies.
    • Strengthening social resilience by improving health infrastructure and expanding social protection systems.

    Implementing these climate actions requires significant financial resources, with funding needed from domestic taxes, green private sector investments, and international support.

    “The CCDR complements the CEM by showing that climate change is not only a threat to Sierra Leone’s development goals but also a powerful lens for identifying opportunities to build a more resilient and sustainable future by aligning growth strategies with climate priorities to safeguard long-term progress,” added Sabrina Haque, World Bank Environmental Specialist and a lead author of the CCDR.

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

    MIL OSI Africa

  • MIL-OSI Africa: The Minister of Planning, Economic Development, and International Cooperation signs an agreement with the Federation of Egyptian Industries, the Federation of Chambers of Commerce, and 10 business councils and associations to expand the services provided through the Hub for Advisory, Finance & Investment for Enterprises platform across governorates


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    During the activities of the “Development Finance to Foster Private Sector-Led Growth & Jobs” conference, organized by the Ministry of Planning, Economic Development, and International Cooperation, under the patronage and in the presence of H.E. Prime Minister Dr. Mostafa Madbouly, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, signed an agreement with the Federation of Egyptian Industries, the Federation of Egyptian Chambers of Commerce, the Confederation of Egyptian European Business Associations (CEEBA), the Egyptian-British Chamber of Commerce, the Egyptian-African Businessmen’s Association, the Canadian Chamber of Commerce in Egypt, the Egyptian-Japanese Business Council, the Swiss-Egyptian Business Association, the British Egyptian Business Association, the Egyptian Businessmen’s Association, the Egyptian Junior Business Association, and the Italian Chamber of Commerce in Egypt.

    The agreement aims to enhance the benefit of private sector companies across Egyptian governorates whether large, small, medium, micro-enterprises, or startups from the financial and non-financial services and the direct and indirect mechanisms available through the “Hafiz” platform for financial and technical support to the private sector, through the Federation of Industries, business associations, the Federation of Chambers of Commerce, and their branches in the various governorates.

    Commenting on the agreement, H.E. Dr. Rania Al-Mashat emphasized that the agreement comes within the framework of the Ministry of Planning, Economic Development and International Cooperation’s keenness as the entity responsible for setting and following up on the implementation of Egypt’s sustainable economic development strategies and ensuring alignment with “Egypt Vision 2030” to promote inclusive development by encouraging partnerships between the public and private sectors and activating the role of the “Private Sector Participation Unit” in integrating the efforts of the private sector within the state’s development priorities, especially in improving the business environment, supporting SMEs, and enhancing sectoral integration.

    H.E. Dr. Al-Mashat explained that through these agreements, the Ministry is working to maximize the private sector’s benefit from the Hub for Advisory, Finance & Investment for Enterprises, by facilitating the access of companies that are members of the chambers to the platform and taking full advantage of the available services and financing opportunities, furthermore holding a series of meetings organized by the Ministry of Planning, Economic Development and International Cooperation, through the private sector participation unit with international development partners, to promote ongoing dialogue and communication with the business community and relevant stakeholders.

    The Ministry of Planning, Economic Development, and International Cooperation launched the Hub as one of the innovative mechanisms to advance the agenda of private sector empowerment by easing access to development financing and technical services. The platform was designed as an integrated digital portal that connects development partners, implementing agencies, government entities, and the business community of all categories including large corporations, SMEs, micro enterprises, and startups. The platform was developed as a strategic tool within the Ministry’s efforts to enhance economic diplomacy and mobilize finance for sustainable development.

    Through the Hub for Advisory, Finance & Investment for Enterprises, more than 90 financial and technical support services are made available by 44 bilateral and multilateral development partners. The platform has made notable progress, with the number of services increasing from 62 at its launch in December 2023 to over 90 today, and has attracted nearly 18,000 users from the private sector and entrepreneurial community. The platform’s database includes over 700 companies that have benefited from support services, and more than 1,000 tenders and development initiatives funded by development partners in Egypt and more than 80 other countries providing tangible opportunities for expansion and access to regional and international markets.

    Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation – Egypt.

    MIL OSI Africa

  • MIL-OSI Africa: Global: Urgent action needed as climate crisis leads to devastating new harms to human rights


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    States must urgently deliver ambitious climate action by mapping out a just transition away from fossil fuels in all sectors to prevent even worse human rights harms around the world, Amnesty International said in a new briefing to mark the start of the Bonn Climate Conference which takes place between 16-26 June.

    Despite the challenges posed by the US withdrawal from the Paris Climate Agreement, increases in authoritarian practices globally and the growing environmental devastation of the escalating armed conflicts in the Occupied Palestinian Territory, Sudan and Ukraine, among others, it is not too late for states to find common ground and ramp up climate ambition for the planet and the rights of current and future generations.

    In 2024, for the first time, the world breached the threshold of 1.5°C of global heating above pre-industrial levels. During the hottest year on record, wildfires ripped through Latin America, the Caribbean was hit by the earliest Category 5 Atlantic hurricane on record, and parts of Central Europe were deluged with three months’ worth of rain in five days as the climate emergency worsened, driven by human activity and the continued burning of fossil fuels.

    “The devastating new human rights harms resulting from climate change will escalate dramatically unless global heating is kept in check. More people will be driven deeper into poverty, lose their homes or suffer the effects of drought and food insecurity. Despite the deepening climate crisis, governments’ action to limit fossil fuel production and use has been wholly inadequate,” said Ann Harrison, Amnesty International’s Climate Justice Advisor.  

    “Governments are in thrall to fossil fuel companies which have sought to downplay climate harms and discredit climate science. States continue to provide subsidies to these companies, effectively incentivizing the continuation of the fossil fuel industry. Everyone has the right to live in a clean, healthy and sustainable environment – but as the climate crisis intensifies, this right, and others, are under growing threat.”

    Across the globe, unnatural disasters exacerbated by climate change, such as worsening droughts and severe floods, are damaging harvests and leading to food scarcity and water shortages, contributing to displacement, migration and conflict.

    Protecting and listening to grassroots voices

    Marginalized frontline and fence line communities that use fossil fuels the least continue to suffer some of the worst impacts of climate change. They include subsistence farmers, Indigenous Peoples and those living in low lying island states, threatened by rising sea levels and more powerful storms, or those living beside fossil fuel production and transport facilities.

    For example, Pakistan contributes less than 1% of greenhouse gas emissions annually but is one of the countries most vulnerable to climate disasters. In a report published last month, Amnesty International documented how increasingly frequent floods and heatwaves are leading to preventable deaths, particularly among young children and older adults.

    Despite the urgency of the climate crisis, those demanding action from the authorities are being harassed, stigmatized, attacked and criminalized. Around the world, environmental human rights defenders (EHRDs) are risking their lives and liberty for defending their lands and communities’ right to a healthy environment, such as the Warriors for the Amazon in Ecuador.

    The conference is an opportunity to spotlight the situation in COP29 host Azerbaijan, where environmental human rights defender Anar Mammadli and journalist Nargiz Absalamova who reported on environmental issues remain behind bars. Other journalists who reported on the human rights situation including during COP29 were arrested afterwards in apparent reprisals. Brazil, the host of COP30, is one of the most dangerous countries for EHRDs, who face killings, violence, threats and stigmatization for their work.

    “The voices, views, knowledge and wisdom of Indigenous Peoples, frontline and fence line communities and human rights defenders must be incorporated into climate policies, plans and action,” said Ann Harrison.

    “Once again, we have heard reports of limited badges and visa problems for those from the majority world wishing to attend the conference in Bonn. Nor are the COP Host Country Agreements – a key tool that must be strengthened to ensure freedom of expression and peaceful assembly for participants – available publicly as a matter of routine.”

    Climate finance must be addressed

    Amnesty International is also calling for states to tackle climate finance. Currently, lower-income countries are paying more in debt repayments than they are receiving as climate finance from high-income countries.

    High income historically high emitting countries are most responsible for climate change, yet continue to shirk their obligations to provide climate finance to lower income countries to cut emissions and to help communities to adapt to climate change, as well as providing reparations for loss and damage, which could ease the burden in countries suffering climate harms.

    “Taxing fossil fuel companies, corporate windfall profits and high net worth individuals, as well as ending subsidies and investments in fossil fuels and ending global tax abuses, could raise over USD 3 trillion per year which could go a huge way towards the cost of tackling climate change,” said Ann Harrison.

    Huge changes need to be made

    The Bonn Climate Conference is a key preparatory moment for the annual UN Climate Conference, which takes place as COP30 later this year in Brazil – a country that wants to publicly lead a message of global environmental protection. Yet, internally some of its institutions are taking actions contrary to this agenda, including requiring less stringent licensing for environmentally destructive projects and expanding fossil fuel production.

    “If climate change is to be taken seriously and to keep global warming below 1.5°C above pre-industrial levels, we need to see concrete progress with clear timelines towards massively scaled-up needs-based climate finance, particularly for adaptation and loss and damage, in the form of grants, not loans, with those most responsible for emissions contributing the most,” said Ann Harrison.

    Amnesty International is calling for states commit to a full, fast, fair and funded fossil fuel phase out through just transitions across all sectors, without relying on risky and unproven technologies or offsets that do not lead to genuine emissions reductions. It is also calling for inclusive discussions around climate change, involving the people most affected by it, and ensuring they can meaningfully access these high-level negotiations without discrimination.

    Distributed by APO Group on behalf of Amnesty International.

    MIL OSI Africa

  • MIL-OSI Banking: Joint Press Release of the 32nd ASEAN-EU Joint Cooperation Committee (JCC) Meeting

    Source: ASEAN

    The Association of Southeast Asian Nations (ASEAN) and the European Union (EU) held their 32nd Joint Cooperation Committee (JCC) Meeting on Monday, 16 June 2025 in Jakarta, Republic of Indonesia.
     
    The two sides reviewed recent developments in their respective regions since the last JCC Meeting held on 8 May 2024, including the challenging global geopolitical context. The two sides reaffirmed their shared commitment to strengthening the rules-based multilateral system through the promotion of effective multilateralism, as well as to respecting and promoting international law and international norms and standards. They reiterated their shared commitment to support ASEAN Centrality and ASEAN-led mechanisms. They confirmed their shared determination to promote peace, security, and stability and prosperity, including through the four priority areas of the ASEAN Outlook on the Indo-Pacific (AOIP) and the seven priority areas of the EU Strategy for Cooperation in the Indo-Pacific, and the protection of human rights and fundamental freedoms.
     
    ASEAN and the EU took stock of their extensive cooperation and explored ways to reinforce their strategic partnership, with a view to improving the security and the quality of life of their citizens, increase connectivity between the two regions, and respond to global challenges. The two sides reviewed the implementation of the Plan of Action to Implement the ASEAN-EU Strategic Partnership (2023-2027), welcoming the progress achieved since their previous meeting, with 61% percent of action lines addressed.
     
    The two sides welcomed the ongoing roll-out of the EU’s Global Gateway, including the implementation of Sustainable Connectivity and the Green Team Europe Initiatives. They expressed their pleasure that all projects under the EU-ASEAN Sustainable Connectivity Package (SCOPE) were now operational, spanning trade, people-to-people connectivity, transport, energy, and digital connectivity. The EU expressed its intention to scale up support for the ASEAN Power Grid, drawing on its experience with energy market integration within the EU. ASEAN also encouraged the EU to actively support the ASEAN Connectivity Strategic Plan (ACSP).
     
    ASEAN and the EU discussed their cooperation in the field of peace and security, including through the ASEAN Regional Forum (ARF). They underscored the importance of strengthening their cooperation in cybersecurity and on maritime security, including through the ASEAN-EU High-Level Dialogue on Maritime Security Cooperation.
     
    The two sides discussed their cooperation on trade and economic issues, focusing in the short and medium term on areas of mutual interest including the digital economy, green technologies and green services, and supply chain resilience, while also reaffirming their intention to pursue more concrete sectoral cooperation in areas of mutual interest as building blocks toward an eventual ASEAN-EU Free Trade Agreement (FTA). They welcomed the ongoing work of the ASEAN-EU Joint Working Group for Trade and Investment, and looked forward to the 21st ASEAN Economic Ministers-EU Trade Commissioner Consultation in September 2025, as well as the launch of the SCOPE Trade project in the coming months. They also recognised the importance of a predictable, transparent, free, fair, inclusive, sustainable and rules-based multilateral trading system, with the World Trade Organisation (WTO) at its core.
     
    They looked forward to the convening of the Fourth Joint Working Group on Palm Oil between the European Union and Relevant ASEAN Member States to continue promoting mutual understanding on the sustainable production of vegetable oils and addressing the challenges in this sector in a holistic, transparent, and non-discriminatory manner.
     
    ASEAN and the EU discussed their cooperation on socio-cultural issues, reiterating their commitment to promoting sustainable development and addressing the global challenges of climate change, biodiversity loss and environmental protection. They also underlined their shared interest in further engagement in the field of Disaster Management and Emergency Response, notably between the ASEAN Coordinating Centre for Humanitarian Assistance on Disaster Management (AHA Centre) and the EU’s Emergency Response Coordination Centre (ERCC).
     
    ASEAN welcomed the EU’s contributions towards ASEAN Community-building and regional integration efforts, and called on the EU to continue its support for the implementation of the ASEAN 2045: Our Shared Future, as well as ASEAN’s efforts to narrow the development gap through the Initiative for ASEAN Integration (IAI).
     
    The meeting was co-chaired by Ambassador Latifah Zaini, Permanent Representative of Brunei Darussalam to ASEAN, and by Ms. Leila Fernández Stembridge, Head of the South-East Asia Division of the European External Action Service, together with Mr. Mario Ronconi, Head of Unit for South and South-East Asia, European Commission Directorate-General for International Partnerships. It was attended by members of the Committee of Permanent Representatives to ASEAN and officials from the EU institutions, as well as officials from the ASEAN Secretariat. EU Member States, Timor-Leste, and the European Investment Bank also attended the meeting as observers.

     
    ###

    MIL OSI Global Banks

  • MIL-OSI United Kingdom: Aberdeen becomes first Scottish university with plans to open campus in India The University has taken a significant step forward in its global expansion ambitions after India’s University Grants Commission granted permission to progress with proposals to open a branch campus in Mumbai with a target launch of September 2026.

    Source: University of Aberdeen

    British High Commissioner H.E. Lindy Cameron, Secretary Higher Education & Acting Chairman University Grants Commission (UGC) Shri Vineet Joshi, Union Education Minister Shri Dharmendra Pradhan, Professor Siladitya Bhattacharya, Vice-Principal Global Engagement at the University of Aberdeen; and Chief Minister of Maharashtra, Shri Devendra Fadnavis.

    The University has taken a significant step forward in its global expansion ambitions after India’s University Grants Commission granted permission to progress with proposals to open a branch campus in Mumbai with a target launch of September 2026.
    The University of Aberdeen is the first of the UK’s ancient universities and the first Scottish university to be granted permission for a branch campus in India. The proposal will now go to the University’s governing body Court for approval next month.
    The successful application to the Indian Government followed discussions – which are ongoing – with the UGC and the University’s Transnational Education partners in India.
    The University was granted a Letter of Intent at a special ceremony on Saturday (June 14) in Mumbai hosted by the Indian Government.
    The proposals underpin the University’s commitment to India and its vision of fostering world-class education, cutting-edge research and transformative innovation in collaboration with Indian institutions.
    Building on decades of University partnerships with more than 200 Indian universities and research centres including IITs – the Indian Institutes of Technology; AIIMS – All India Institute of Medical Sciences; Manipal Academy, ICAR – Indian Council of Agricultural Research and Delhi University, the proposed branch campus would be a hub for academic excellence and global problem-solving.
    Aligned with India’s National Education Policy 2020, the proposed campus would initially offer programmes in Computing and Data Science, Business Management, Economics, Artificial Intelligence and an MBA with future expansion into Mathematics and International Business Management and Information Systems, Public Health, Film Studies and Psychology – strategic areas where Aberdeen and India share common priorities.

    As the first Scottish university to be granted permission to set up a campus in India, this is more than just an institutional milestone; it underscores how education can serve as a bridge between nations, fostering cultural exchange, mutual respect, and creating global opportunities for students and academics alike.” Alison Barrett MBE, Country Director India at the British Council

    A follow up second phase would see the University aim to establish a research and innovation office on the proposed new campus to expand research collaborations and industry partnerships in critical areas such as AI, Energy and Life Sciences.
    Professor Siladitya Bhattacharya, Vice-Principal Global Engagement at the University of Aberdeen, said: “We are excited to progress our global ambitions after the Indian Government gave us approval to proceed with our intention for a campus. As a country of over 1.4 billion where 50% of the population are below the age of 25, India has long been a priority area for our global engagement strategy focusing on student recruitment, articulation partnerships, research collaborations and alumni networks.
    “The proposed campus aims to empower students, accelerate joint research with Indian partners and contribute to India’s dynamic knowledge economy. By combining the University of Aberdeen’s research expertise with India’s innovation ecosystem, this initiative aims to tackle global challenges while enabling student exchange, faculty collaboration and industry-led innovation.
    “It also reinforces the University of Aberdeen’s role as a leader in international education, committed to shaping the future of global higher education and strengthening the deep and historic ties between India and the UK.
    “We are looking forward to collaborating with our Indian partners to bring this vision to life and further bolster ties between Scotland and India through education and research.”
    Alison Barrett MBE, Country Director India at the British Council, said: “The University of Aberdeen’s decision to progress with a campus in Mumbai marks an important moment in deepening the education partnership between India and the UK. It reflects our shared commitment to advancing the internationalisation of higher education, research, and innovation, as envisioned in India’s National Education Policy 2020.
    “As the first Scottish university to be granted permission to set up a campus in India, this is more than just an institutional milestone; it underscores how education can serve as a bridge between nations, fostering cultural exchange, mutual respect, and creating global opportunities for students and academics alike. We are proud to support initiatives that bring world-class education closer to students in India.”

    MIL OSI United Kingdom

  • MIL-OSI Russia: Yuri Trutnev congratulated the soldiers defending the country on the front lines in Kursk and Donetsk on Russia Day

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    On Russia Day, June 12, Deputy Prime Minister of the Russian Federation – Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District Yuri Trutnev met with soldiers of the 155th Guards Marine Brigade in Kursk Oblast and handed them equipment and gear.

    “Russia Day is a holiday for all patriots of the country. We remember the formation of our Motherland, its history, the exploits and heroic victories over the enemy of our ancestors, how our state was strengthened. Now Russia is conducting a special military operation – we are once again defending our independence, our view of the world, the future of our children. Everyone contributes to the common victory – those who defend freedom on the front lines, and those who help in the rear, working as volunteers and collecting humanitarian aid, and those who go as doctors to save the lives of soldiers and civilians. Our guys need common support more than ever. We are together. We are close. The enterprises of the TOR “Patrioticheskaya” produce equipment and gear for the front. We will continue to help until our country wins,” said Yuri Trutnev.

    On the instructions of Yuri Trutnev, another batch of weapons, uniforms, and vehicles were delivered to the commanders and servicemen of the Russian army, including those from the Far East, at the front line in the special military operation zone.

    The fighters were given products from the enterprises of the Patriotic TOR. They received FPV drones from Yakut and Transbaikal manufacturers, electric enduro motorcycles Timir AT from Yakutia, and all-terrain snow and swamp vehicles from the Yakut enterprise OOO Yakt-Sokol. It should be noted that for their active civic position and assistance in conducting a special military operation, the companies Timir AT and Yakt-Sokol were awarded the public and business prize Star of the Far East in the category Everything for Victory.

    The fighters received ground robotic systems (GRS) “Courier”. The systems were created by a resident of the “Patrioticheskaya” priority development area in Buryatia. The fighters also received DJI Mavic 3 Thermal quadcopters – industrial drones equipped with thermal imaging and digital cameras. Ammunition for high-precision sniper systems, smoothbore guns for combating enemy drones and ammunition for them, and electronic warfare systems “Kapyushon” were sent to the front lines.

    On June 13, Yuri Trutnev held a meeting with the command staff of the Eastern Military District, met with officers and soldiers of the 14th separate guards special purpose brigade, and soldiers of the volunteer detachment – civil servants of the Far Eastern regions. The servicemen and volunteers were given products from the residents of the Patriotic Priority Development Area: Yakt-Sokol all-terrain vehicles and Timir AT electric enduro motorcycles, quadcopters, electronic warfare and electronic reconnaissance equipment, optical observation devices, thermal imaging sights, anti-fragmentation suits, smoothbore guns for combating enemy drones, and ammunition. Kuryer NRTKs were sent to the front lines for servicemen of the Eastern Military District and Far Eastern volunteers.

    In total, 4,590 FPV drones were transferred during the trip to Kursk and the DPR, including 2,090 units from the manufacturers of the Patriotic TOR. In addition, 106 Timir AT electric enduro motorcycles, 19 all-terrain snow and swamp vehicles of Yakt-Sokol LLC, 10 Kurier ground robotic systems, 15 Kharon thermal imaging sights, Dozor-1 surveillance devices, Venox Patriot thermal imaging sights, Nightforce optical sights, anti-fragmentation suits and other equipment and ammunition were transferred from the residents of the Patriotic TOR.

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

    MIL OSI Russia News

  • MIL-OSI Australia: Coordinated raid of alleged illegal waste activity

    Source: Tasmania Police

    Issued: 16 Jun 2025

    Open larger image

    Queensland officer executing warrant in Forrest Lake

    A compliance operation has seen the successful execution of 10 search warrants simultaneously for alleged illegal waste activity in Forest Lake.

    Public reports to the Pollution Hotline alerted the Department of the Environment, Tourism, Science and Innovation (DETSI) to the suspicious activity.

    Information indicated that several operators were acting illegally by receiving and handling waste without an Environmental Authority (EA), including vehicle wrecking and receiving scrap metal and construction waste including asbestos and end-of-life tyres.

    An EA provides businesses with conditions they must comply with to manage environmental risks associated with their operations.

    Unlicensed waste operators present significant environmental risks, not to mention unfairly undercutting lawful operators who are meeting their environmental obligations to protect our environment.

    After comprehensive planning, on 10 June 2025, DETSI led an operation with the support of the Queensland Police Service, to collect evidence about alleged illegal activity.

    Strong enforcement action will be taken against unlicensed activities, with fines of $16,690 for a company. DETSI also typically orders unlicensed operators to cease or reduce their operation to meet the permissible thresholds.

    Executive Director at the Department of the Environment, Tourism, Science and Innovation Brad Wirth echoed the success of the operation.

    “This is not the first successful compliance operation of its kind, and it certainly won’t be the last.

    “It took a lot of preparation to orchestrate this operation; it is a complex project and the safety of our staff and those operating at the premises is our top priority.

    “Improper waste handling can impact the environment through the release of contaminated water, increased fire risk and dust and noise nuisance impacts, which is why these activities must be licensed.

    “Let this serve as a warning to waste operators who think they are above the law: it is not worth the risk.

    “Enabling illegal activities to occur not only has detriment environmental impacts, but it is also unfair to operators who are complying with their environmental responsibilities – something we do not take lightly.

    “We will continue to take strong compliance action against operators and individuals allegedly engaging in illegal activity.”

    MIL OSI News

  • MIL-OSI: Toobit Enhances Spot Trading Experience with New Price Precision Adjustment Feature

    Source: GlobeNewswire (MIL-OSI)

    GEORGE TOWN, Cayman Islands, June 16, 2025 (GLOBE NEWSWIRE) — Toobit, an award-winning global cryptocurrency exchange, today rolls out a new enhanced price precision feature in its mobile app, designed to deliver a more accurate and transparent trading experience for spot traders.

    This improvement optimizes how prices are displayed, enabling users to view the most precise trading values in a market where every digit counts. For assets like PEPE/USDT, which regularly command a market capitalization of over $6 billion and see massive daily trading volumes, the ability to track micro-decimal price movements is critical. With this update, users can long-press the price field to reveal the fully expanded format for maximum clarity.

    Toobit now displays ultra-accurate prices using {N} to represent consecutive zeros. Long press to see the full value.

    “The enhanced price display allows users to view prices and matched orders with greater clarity and minimal rounding,” said Mike Williams, Chief Communication Officer at Toobit. “While prices have always been updated in real time, this update presents those values with the smallest possible increments. In a market where traders cite price precision as a critical factor for profitability, especially for high-volume assets, this feature ensures our users have a competitive edge.”

    Key benefits of this new feature include:

    • Higher accuracy: With tens of thousands of new tokens launching daily on blockchains like Solana, the market is flooded with low-priced assets. Improved decimal precision helps traders catch micro-movements and optimize their entries in this crowded field.
    • More transparency: Traders can view the exact executed price and quantity without the ambiguity of rounding, preventing potential slippage.
    • Better user experience: A clearer, more intuitive interface for the assets that constitute a significant and growing share of daily spot trading volume.

    This feature is now live on the Toobit mobile app and currently supports spot trading pairs. More trading products will be integrated with this enhanced precision display in future updates.

    With the meme coin market alone surpassing a $100 billion valuation in 2024 and projected to see continued significant growth, Toobit’s update is designed to deliver a more accurate and transparent trading experience for spot traders in this booming sector.

    About Toobit

    Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.

    For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram

    Contact: Davin C.

    Email: market@toobit.com

    Website: www.toobit.com

    Disclaimer: This content is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/526db66c-9a95-458b-b2ca-48d80d0457f4

    https://www.globenewswire.com/NewsRoom/AttachmentNg/8d4a46a9-1b37-4fb8-8427-735057aa54ef

    The MIL Network

  • MIL-OSI Economics: Global Cross-Border Payments: A Quadrillion Evolving Market?

    Source: International Monetary Fund

    Summary

    Cross-border payments are essential to the global financial system, facilitating trade and investment. The global cross-border traditional and crypto payment market approached a value of about one quadrillion dollars in 2024, with crypto payments representing only a small fraction despite their recent surge. Focusing on data from Swift—the largest traditional cross-border financial messaging network—we study the characteristics and evolving patterns of these payments over 2021-24. Notably, payments are predominantly concentrated in advanced economies, and are driven by financial institutions and large transactions. While currency usage remains stable—with the U.S. dollar maintaining the largest share—the Chinese renminbi demonstrates signs of increasing global integration, albeit from a low base. Gravity model estimates confirm that traditional economic linkages, via trade, portfolio investment, and FDI, shape cross-border payments. However, aggregate dynamics mask substantial heterogeneity across message types (customer vs. financial related payments), currencies, and transaction sizes, with information asymmetries playing a diminished role in larger payments.

    Subject: Balance of payments, Currencies, Foreign direct investment, Money

    Keywords: Cross-Border Payments, Currencies, FDI, Foreign direct investment, Global, Networks, Portfolio Investment, Trade

    MIL OSI Economics

  • MIL-OSI Economics: Post-Pandemic Investment in Spain: Assessing the Sluggish Recovery

    Source: International Monetary Fund

    Summary

    This paper examines Spain’s investment performance five years after the COVID-19 pandemic. As of 2024, investment had only returned to pre-pandemic levels and remained below historical fundamentals and euro area peers, particularly in transport equipment and other construction. Macroeconomic analysis identifies elevated economic policy uncertainty as a factor holding back investment. Moreover, firm-level data show that investment among small and younger to middle-aged Spanish firms is less responsive to profitability than in comparable firms in larger euro area economies, further suggesting that uncertainty is weighing on investment decisions. For younger and middle-aged firms, high leverage during the pandemic also points to binding financial constraints.

    Subject: Capital formation, COVID-19, Depreciation, Financial institutions, Foreign exchange, Gross fixed investment, Health, Housing, Intangible capital, National accounts, Purchasing power parity, Sovereign bonds

    Keywords: Bond yields, Capital formation, Consumer price indexes, COVID-19, Depreciation, Economic policy uncertainty, Firm heterogeneity, Gross fixed investment, Housing, Intangible capital, Investment, Leverage, Profitability, Purchasing power parity, Sovereign bonds

    MIL OSI Economics

  • India’s WPI inflation eases to 14-month low of 0.39 per cent in May

    Source: Government of India

    Source: Government of India (4)

    India’s annual rate of inflation based on the Wholesale Price Index (WPI) eased further to a 14-month low of 0.39% in May, down from 0.85% in April and 2.05% in March, according to data released by the Ministry of Commerce and Industry on Monday.

    The month-over-month change in WPI inflation during May was in the negative zone at (-0.06%) compared to April, reflecting a continuing downward trend in inflation. A decline in the prices of food items as well as fuels such as petrol and diesel contributed to the negative month-on-month inflation rate.

    The country’s inflation rate based on the Consumer Price Index (CPI) also declined to 2.82% in May 2025, compared to the same month in the previous year. This marks the lowest level of retail inflation since February 2019, according to figures released last week.

    Food inflation declined to 0.99% in May — the lowest since October 2021. This is the seventh consecutive month of decline in food inflation, largely due to improved agricultural output.

    The Reserve Bank of India (RBI) has revised its inflation outlook for 2025–26 downward — from the earlier forecast of 4% to 3.7%, RBI Governor Sanjay Malhotra said on Friday. The sharp decline in inflation has enabled the RBI to implement a 50 basis point cut in the repo rate, reducing it from 6% to 5.5%, as part of its latest monetary policy review to spur economic growth.

    Additionally, the RBI announced a 100 basis point reduction in the Cash Reserve Ratio (CRR), from 4% to 3%, to be implemented in four tranches of 25 basis points each. This measure is expected to inject Rs 2.5 lakh crore into the banking system, enhancing liquidity and supporting credit flow.

    Malhotra highlighted that inflation has significantly softened over the past six months — falling from above the upper tolerance band in October 2024 to well below the target. He noted signs of broad-based moderation.

    “The near-term and medium-term outlook now gives us the confidence not only of a durable alignment of headline inflation with the target of 4%, as expressed in the last meeting, but also the belief that during the year, it is likely to undershoot the target slightly,” he said.

    IANS

  • MIL-OSI United Kingdom: 2/2025: Confirmation of decapitalisation rates

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    2/2025: Confirmation of decapitalisation rates

    Business rates information letters are issued by the Ministry of Housing, Communities and Local Government at regular intervals throughout the year.

    Applies to England

    Documents

    Details

    This letter confirms the decapitalisation rates for the 2026 revaluation.

    Updates to this page

    Published 16 June 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: No One Left Behind: Birmingham Highlights Vital Support for Migrant Survivors This Refugee Week

    Source: City of Birmingham

    As part of Refugee Week 2025 (16-22 June), Birmingham City Council is raising awareness of the life-saving support available for refugee and migrant survivors of domestic abuse.

    Working in partnership with the Refugee and Migrant Centre, Central England Law Centre, and the NRPF Network, the campaign draws attention to the significant barriers many survivors face — including No Recourse to Public Funds (NRPF), language barriers, and lack of access to safe housing. 

    Thanks to funding through the Council’s Domestic Abuse Community Grants, the Refugee and Migrant Centre, working in partnership with specialist domestic abuse services, is supporting survivors. This includes offering expert immigration advice and advocacy in over 40 languages, helping survivors claim asylum, regularise their immigration status, or access financial support. 

    Survivors with NRPF, including those whose asylum claims have been refused, can also receive legal advice and representation through the Central England Law Centre. Their work with local domestic abuse providers ensures access to support such as the Destitute Domestic Violence Concession (DDVC) — a vital legal route to safety. 

    Councillor Jamie Tennant, Cabinet Member for Social Justice, Community Safety and Equalities, said:

    “Refugee Week is a time for reflection and action. No one should be trapped in an abusive situation because of their immigration status. Here in Birmingham, we’re proud to stand alongside our partners to ensure that survivors get the help they need — with dignity, compassion, and justice. We are committed to making sure no one is left behind.” 

    The Council aims to raise awareness by sharing real survivor stories, busts harmful myths about migrant access to services, and provides practical information on where to get help. Each day focuses on a different theme, from legal support and housing rights to survivor voices and community solidarity. 

    Where to Get Help 

    If you or someone you know is affected by domestic abuse, support is available: 

    • Birmingham Domestic Abuse Hub:  

    Call 0808 800 0028 Monday to Friday, 9am – 5pm. 

    Visit www.bswaid.org (Webchat open Monday to Friday from 10am – 4pm) 

    The hub also has a women only drop-in service at Bank House, 36 Bristol Street, Birmingham B5 7AA. Opening times are: Monday and Tuesday 10:00am to 4:00pm, Wednesday 1:00pm to 4:00pm, Thursday and Friday 10:00am to 4:00pm 

    • Refugee and Migrant Centre: 

    Visit www.rmcentre.org.uk 

    Call 0800 0663 444 

    Or drop-in on Monday, Tuesday, Thursday and Friday mornings between 9am-1pm at: 

    The Refugee and Migrant Centre, 
    Second Floor, Chamberlain Building, 
    36 Frederick Street, 
    Birmingham, 
    B1 3HN 

    • Central England Law Centre: 

    Telephone advice available Monday to Thursday 9am – 1pm and 2pm – 5pm, and Friday 9am – 1pm and 2pm – 4.30pm on 0121 227 6540 

    Or visit www.centralenglandlc.org.uk 

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Employers recognised for their defence support with 2025 ERS Silver Awards

    Source: United Kingdom – Executive Government & Departments 3

    Press release

    Employers recognised for their defence support with 2025 ERS Silver Awards

    The Ministry of Defence is pleased to announce that 307 organisations have been awarded the Defence Employer Recognition Scheme (ERS) Silver Award for 2025.

    Framed Silver ERS Awards. Copyright: RFCA.

    The ERS Silver Award recognises employers who have shown exceptional support to the armed forces community, including reservists, veterans and military families. These employers have gone beyond their Armed Forces Covenant commitments to embed supportive HR policies, promote defence values, and advocate for service personnel in the civilian workforce.

    Awardees typically demonstrate:

    • paid leave for reservist training and mobilisation
    • active veteran recruitment and retention policies
    • flexible support for military families
    • visible leadership endorsement of the Armed Forces Covenant

    Major General Jamie Gordon, Chief Executive of the Council of Reserve Forces’ and Cadets’ Associations, said:

    These Silver Award winners are trusted allies of defence. They don’t just talk about support—they show it, every day, through flexible policies, visible advocacy, and long-term commitment to those who serve. This is about more than good intentions, it’s about practical, sustained support that strengthens our national resilience. It is very pleasing that they have been recognised for all they do for our reservists, veterans and cadets.

    The announcement forms part of defence’s broader strategy to build closer relationships with industry and civil society in support of a modern, adaptable armed forces.

    Find out how your organisation can support the armed forces community through the Armed Forces Covenant and Defence Employer Recognition Scheme:

    Join the conversation

    Awardees and partners are encouraged to engage with the announcement and share their support via social media.

    Please tag and follow DRM on:

    For more information and media enquiries:

    Email: co-adcomms@rfca.mod.uk

    Updates to this page

    Published 16 June 2025

    MIL OSI United Kingdom

  • MIL-OSI Banking: axessinvest.de: BaFin warns consumers about website and identity fraud

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin warns consumers about fraudulent term deposit offers.

    You can view BaFin’s current warnings about companies operating without the required authorisation and find out how to protect yourself from fraudsters on the financial market in the “Recognising financial fraud” section of our website.

    MIL OSI Global Banks

  • MIL-OSI Banking: What is Needed for Convergence? The Role of Capital and Finance

    Source: International Monetary Fund

    Summary

    What is needed for poor countries to catch up with rich ones? This paper first documents the role of human capital, physical capital, and financial development in convergence in manufacturing labor productivity across countries, and then examines the influence of economic structure and financial development at the aggregate level. Using industry-level data from manufacturing industries in a large set of countries over the period 1980-2022, we show that manufacturing industries exhibit strong unconditional convergence over time, but there is variation in the pace of convergence: Greater reliance on human capital in an industry is linked to faster convergence, whereas dependence on physical capital has no bearing. Instead, industries with a greater dependence on physical capital see convergence only if there is sufficient financial development. At the country level, we find that convergence tends to be faster as countries shift away from agriculture (which typically requires less human capital), and towards industrial production or services. Furthermore, poorer countries that initially have a higher share of agriculture in their GDP have been shifting away from agriculture at a faster rate, which may have contributed to the observed aggregate convergence. Greater financial development is also linked to faster convergence at the country level.

    Subject: Agricultural sector, Agroindustries, Capital productivity, Economic sectors, Financial markets, Financial sector development, Human capital, Industrial productivity, Labor, Labor productivity, Manufacturing, Production, Productivity

    Keywords: Agricultural sector, Agroindustries, Capital, Capital productivity, Convergence, Financial development, Financial sector development, Global, Human capital, Human capital, Industrial productivity, Labor productivity, Manufacturing, Productivity, Productivity, Sectoral analysis, Structural transformation

    MIL OSI Global Banks

  • MIL-OSI Russia: Among NSU students there are 75 diploma winners and 6 medalists of the All-Russian Olympiad “I am a professional”

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    The results of the VIII season of the All-Russian student Olympiad “I am a professional” of the presidential platform “Russia – the country of opportunities” have been summed up. NSU demonstrated the highest results in the region: among the university students there are 75 diploma winners and 6 medalists.

    The new season of the Olympiad involved 185,610 students from 89 regions of Russia, who competed in 71 areas — from psychology, linguistics and jurisprudence to robotics, metallurgy and quantum technologies. Novosibirsk Oblast entered the top 5 following the results of the VIII season: young people in the region received 112 “I am a professional” diplomas.

    — The high activity of the region’s students and their outstanding results in the “I am a professional” Olympiad demonstrate that personnel for the future of Russia are being formed here. This season, students from the Novosibirsk Region have shown themselves in such areas as “Biotechnology”, “Bioengineering and bioinformatics”, “Biology” and others. We are proud of the achievements of the students from the Novosibirsk Region and are confident that their success will become an example for other regions, — said Andrey Betin, CEO of the presidential platform “Russia is a Country of Opportunities”, Rector of the Senezh Management Workshop.

    This year, 827 students from NSU took part in the selection round, and 197 in the final. The top 5 most popular areas of participation among NSU students were Biology, Biotechnology, Bioengineering and Bioinformatics, Chemistry, and Mathematics. NSU students showed themselves best in such tracks as Biotechnology, Bioengineering and Bioinformatics, Biology, and Ecology. According to the results of the overall medal count, NSU students won three gold and three bronze medals:

    Gold medalists

    Alexander Tomilov, track “Chemistry”, 3rd year bachelor’s degree Faculty of Natural Sciences;

    Lyubov Pecherina, track “Psychology”, 4th year bachelor’s degree Institute of Medicine and Medical Technologies;

    Ivan Baksheev, track “Security of information systems and technologies of critical facilities”, 2nd year master’s degree student Faculty of Information Technology.

    Bronze medalists

    Nazim Mustafin, 2 bronze medals in the Chemistry and Biotechnology tracks, 3rd year specialist student of the Faculty of Natural Sciences;

    Anna Skotareva, track “Biotechnology”, 3rd year bachelor’s degree at the Faculty of Natural Sciences.

    NSU traditionally acted as the organizer of the Olympiad track – “Bioengineering and Bioinformatics”. 1231 students from Russian universities took part in the selection stage of the track.

    Olympiad diploma winners will be able to complete internships at major companies and take advantage of benefits when entering the next level of education, and medalists will receive cash prizes of up to 300 thousand rubles.

    — High results of participation in the Olympiad “I am a professional” are an indicator that the universities of the Novosibirsk region train competitive personnel. Year after year, students demonstrate an increasingly high level of training. In the VIII season, participants received 112 diplomas of the Olympiad “I am a professional”, and the best results were demonstrated by students of the Novosibirsk National Research State University, Novosibirsk State Technical University and Novosibirsk State Pedagogical University, — shared the head of the Olympiad “I am a professional” Valeria Kasamara.

    The Olympiad “I am a professional” is being implemented within the framework of the federal project “Russia – the country of opportunities” of the national project “Youth and Children” with the support of the Ministry of Science and Higher Education of Russia.

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

    MIL OSI Russia News

  • MIL-OSI: Danske Bank share buy-back programme: transactions in week 24

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 29 2025

    Danske Bank

    Bernstorffsgade 40

    DK-1577 København V

    Tel. + 45 33 44 00 00

    16 June 2025

    Page 1 of 1

    Danske Bank share buy-back programme: transactions in week 24

    On 7 February 2025, Danske Bank A/S announced a share buy-back programme for a total of DKK 5 billion, with a maximum of 45,000,000 shares, in the period from 10 February 2025 to 30 January 2026, at the latest, as described in company announcement no. 6 2025.

    The Programme is carried out in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions on Nasdaq Copenhagen A/S were made under the share buy-back programme in week 24:

      Number of shares VWAP DKK Gross value DKK
    Accumulated, last announcement 6,676,902 228.2997 1,524,334,675
    09 June 2025      
    10 June 2025 50,000 259.5262 12,976,310
    11 June 2025 50,000 259.7176 12,985,880
    12 June 2025 49,795 258.8003 12,886,961
    13 June 2025 79,146 256.5568 20,305,444
    Total accumulated over week 24 228,941 258.3836 59,154,595
    Total accumulated during the share buyback programme 6,905,843 229.2970 1,583,489,270

    With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.821% of Danske Bank A/S’ share capital.

    Danske Bank

    Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    The MIL Network

  • ISRO, Axiom Space coordinate ahead of June 19 launch of Ax-4 mission

    Source: Government of India

    Source: Government of India (4)

    The Indian Space Research Organisation (ISRO) on Monday said it is working closely with Axiom Space to refresh time-sensitive experimental specimens, following the rescheduling of the Axiom-4 mission to the International Space Station (ISS) for June 19.

    In a post on X, ISRO said: “@NASA, @Axiom_Space & @SpaceX are targeting no earlier than June 19 for the #Ax4 mission to the @Space_Station. Indian Principal Investigators & @isro are coordinating with @Axiom_Space to refresh time-sensitive experimental specimens. #Space #AxMission4 #ISRO #ISS.”

    The Axiom-4 mission includes Indian Air Force Group Captain Shubhanshu Shukla, who will become the second Indian to travel to space after Rakesh Sharma’s 1984 mission.

    Union Minister of State for Science and Technology Jitendra Singh confirmed the new launch date in a June 14 post on X, saying: “Launch date of the Axiom-4 mission carrying Indian astronaut Shubhanshu Shukla to the International Space Station is, as of now, rescheduled for June 19, 2025.”

    He added that the technical issues which caused the initial delay had been resolved: “The SpaceX team has confirmed that all the issues that led to the earlier postponement of the launch have been duly addressed.”

    The delay was first announced by SpaceX on June 11, when the company cited a need for additional time to repair a liquid oxygen (LOx) leak identified during post-static fire booster inspections. “Standing down from tomorrow’s Falcon 9 launch of Ax-4 to the @Space_Station to allow additional time for SpaceX teams to repair the LOx leak identified during post-static fire booster inspections. Once complete – and pending Range availability – we will share a new launch date” SpaceX said on X.

    The Ax-4 mission is Axiom Space’s fourth private astronaut flight to the ISS. The Ax-4 crew includes astronauts from India, Poland, and Hungary. According to Axiom, this will be the first government-sponsored human spaceflight for the three nations since the 1980s.

  • ISRO, Axiom Space coordinate ahead of June 19 launch of Ax-4 mission

    Source: Government of India

    Source: Government of India (4)

    The Indian Space Research Organisation (ISRO) on Monday said it is working closely with Axiom Space to refresh time-sensitive experimental specimens, following the rescheduling of the Axiom-4 mission to the International Space Station (ISS) for June 19.

    In a post on X, ISRO said: “@NASA, @Axiom_Space & @SpaceX are targeting no earlier than June 19 for the #Ax4 mission to the @Space_Station. Indian Principal Investigators & @isro are coordinating with @Axiom_Space to refresh time-sensitive experimental specimens. #Space #AxMission4 #ISRO #ISS.”

    The Axiom-4 mission includes Indian Air Force Group Captain Shubhanshu Shukla, who will become the second Indian to travel to space after Rakesh Sharma’s 1984 mission.

    Union Minister of State for Science and Technology Jitendra Singh confirmed the new launch date in a June 14 post on X, saying: “Launch date of the Axiom-4 mission carrying Indian astronaut Shubhanshu Shukla to the International Space Station is, as of now, rescheduled for June 19, 2025.”

    He added that the technical issues which caused the initial delay had been resolved: “The SpaceX team has confirmed that all the issues that led to the earlier postponement of the launch have been duly addressed.”

    The delay was first announced by SpaceX on June 11, when the company cited a need for additional time to repair a liquid oxygen (LOx) leak identified during post-static fire booster inspections. “Standing down from tomorrow’s Falcon 9 launch of Ax-4 to the @Space_Station to allow additional time for SpaceX teams to repair the LOx leak identified during post-static fire booster inspections. Once complete – and pending Range availability – we will share a new launch date” SpaceX said on X.

    The Ax-4 mission is Axiom Space’s fourth private astronaut flight to the ISS. The Ax-4 crew includes astronauts from India, Poland, and Hungary. According to Axiom, this will be the first government-sponsored human spaceflight for the three nations since the 1980s.

  • MIL-OSI Banking: Should Tax Be King? The Debate over Tax Priority in Insolvency

    Source: International Monetary Fund

    Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

    MIL OSI Global Banks

  • MIL-OSI Banking: Testing the Purchasing Power Parity (PPP) in West and Central Africa

    Source: International Monetary Fund

    Summary

    This paper employs various empirical methods to test the Purchasing Power Parity (PPP) hypothesis in West and Central Africa, considering countries within the WAEMU, CEMAC, CFA, and ECOWAS currency zones and four possible numeraire currencies—U.S. dollar, euro, renminbi, and the CFA franc. Using panel and single-country unit-root, cointegration, error-correction techniques, our findings indicate that the numeraire currency matters for evidence in favor of PPP. Results show slightly stronger evidence when the euro is used as the reference compared to other numeraire currencies, although results vary across different methods. Evidence for PPP is also stronger across the currency zones after the 1994 devaluation of the CFA franc, when evidence for PPP using the renminbi as reference is also stronger, suggesting an increasing importance of the renminbi for the economies in West and Central Africa. The paper documents significant differences in price dynamics for the CEMAC and the WAEMU, the two components of the CFA zone, with stronger evidence for PPP found for the WAEMU and reversal speed to PPP faster than the 2-3 years found in the literature. Results also indicate that real exchange rates of the currency zones revert to PPP mainly through adjustments of foreign prices expressed in domestic currencies—which may result from changes in nominal exchange rates of the reference currencies or foreign prices—and less so via adjustments in domestic prices.

    Subject: Currencies, Economic integration, Foreign exchange, Monetary unions, Money, Nominal effective exchange rate, Numéraire, Purchasing power parity, Real exchange rates

    Keywords: Cabo Verde, Central Africa, CFA zone, Currencies, Inflation, Monetary unions, Nominal effective exchange rate, Numéraire, Numeraire currency, Price level, Purchasing power parity, Purchasing Power Parity, Real Exchange Rate, Real exchange rates, West Africa

    MIL OSI Global Banks

  • MIL-OSI Russia: From Economy to Culture, China and Central Asia’s Multifaceted Partnership Grows Stronger

    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 16 (Xinhua) — Since the first China-Central Asia Summit was held in Xi’an, northwest China’s Shaanxi Province, in May 2023, fruitful results have been achieved in various areas of cooperation between China and Central Asian countries, and a community with a shared future between China and Central Asia has begun to take shape at an accelerated pace.

    TRADE AND ECONOMIC COOPERATION FOR THE SAKE OF COMMON PROSPERITY

    Kazakh flour and biscuits, Kyrgyz honey, Turkmen candies… In the store of Xi’an Aiju Grain and Oilseeds Company, a variety of goods from Central Asia attract the attention of customers.

    “Most of these food products from Central Asia ‘arrived’ here on China-Europe freight trains. These products account for more than 40 percent of our company’s sales,” said Liu Dongmeng, deputy general manager of Aiju.

    Today, the city of Xi’an has long been not only the starting point of the ancient Silk Road, but also one of the busiest transport hubs for modern “steel camel caravans.”

    According to data from the Changba International Dry Port in Xi’an, by the end of 2024, more than 76 thousand standard containers (20-foot equivalent, TEU) were shipped from Xi’an to Central Asia as part of China-Europe international railway freight transportation, which is 47.6 percent more than a year earlier.

    “In 2015, our company began to establish a base for processing agricultural products in Kazakhstan, and began to deliver goods from Central Asia to China using China-Europe trains,” Liu Dongmeng said, adding that after the 1st China-Central Asia Summit, the level of awareness of Central Asian countries among Xi’an residents has increased significantly, which has contributed to the sales of high-quality goods from the Central Asian region.

    According to the General Administration of Customs of the People’s Republic of China, in 2024, trade turnover between China and Central Asian countries amounted to USD 94.8 billion, which is USD 5.4 billion more than the previous year.

    “China is the most important investment and trade partner of the Central Asian countries,” said Sun Weidong, Secretary General of the China-Central Asia format.

    According to him, within the framework of the joint construction of the Belt and Road, China and the Central Asian countries, by strengthening the alignment of their development strategies, carry out comprehensive cooperation based on the principle of mutual benefit, while cooperation in such areas as digital trade and cross-border transportation is developing dynamically.

    As one of the important achievements of the China-Central Asia Summit, Kazakhstan’s logistics center in Xi’an was officially put into operation in February 2024. By the end of May this year, it had already processed more than 180 thousand tons of cargo.

    This center with a total area of about 6.67 hectares and a design capacity of more than 655 thousand standard containers per year significantly increases the efficiency of sending trains from Xi’an to Central Asia. Currently, the center serves as a trade and logistics collection and distribution center for Kazakhstan in China.

    “Thanks to this center, goods from Kazakhstan, after consolidation in Xi’an, can directly go to the Guangxi Zhuang Autonomous Region /South China/, and then end up in the markets of Southeast Asian countries, which has opened an important international trade corridor for Central Asian countries,” said Darkhan Yesengulov, deputy sales manager at China-Kazakhstan (Xi’an) Trade and Logistics Co., Ltd.

    SCIENTIFIC AND TECHNICAL COOPERATION IN THE COURSE OF “GREEN DEVELOPMENT”

    In recent years, as practical cooperation between China and Central Asia deepens, high-level planning for bilateral green and low-carbon cooperation has been improved.

    Following the first China-Central Asia summit, a list of agreements and initiatives was published. Among them is “Carrying out China-Central Asia green and low-carbon development activities to deepen cooperation in green development and combating climate change.”

    The Turgusun hydroelectric power station, which was put into operation in July 2021, is the first key hydropower project implemented under the joint construction of the Belt and Road Initiative between Kazakhstan and China. After its completion, it was able to compensate for half of the electricity deficit in the Altay region of East Kazakhstan, thereby effectively alleviating the power shortage in the region.

    “During the construction of the hydroelectric power station, more than 200 jobs were created for local residents. This hydroelectric power station showed the world that through technical cooperation and exchange of experience, we can achieve mutually beneficial results in the economy, society and ecology,” said Asset Maksut, director of Turgusun-1 and Turgusun-2 LLP.

    The prospects for cooperation between China and Central Asia in the field of electric vehicles are also very broad. Chinese electric vehicle manufacturers operate in Uzbekistan and Tajikistan.

    “Electric cars from China are more popular in Central Asian countries. Alternative energy is a new area of cooperation between China and Central Asian countries,” said Ma Bin, a research fellow at the Center for Russian and Central Asian Studies at Fudan University.

    According to him, China and Central Asian countries jointly advocate the concept of green, low-carbon, circular and sustainable development. These concepts determine the direction of countries’ efforts in the energy and technology sectors, and also lay the foundation for further cooperation.

    Ecologist, board member of the Green Alliance of Kyrgyzstan Anara Sultangazieva believes that in the context of global environmental problems and climate change, countries share a common concept of “green development” in order to mitigate their consequences. “Especially in the area of agricultural development in order to ensure food security in the context of water shortages in Central Asian countries.”

    HUMANITARIAN EXCHANGES FOR SUSTAINABLE DEVELOPMENT

    China and Central Asian countries are actively developing cooperation in tourism, joint archaeological research, educational exchanges, etc., which strengthens the social foundations and popular support base for cooperation.

    China has now become one of the main study destinations for students from Central Asian countries. With its rich educational and scientific resources, Xi’an has become one of the popular cities for students from this region.

    According to the data, the Xi’an government has established a program to train students from five Central Asian countries, and has successfully enrolled 450 students from these countries by 2024.

    “Chinese culture has a deep influence on the Central Asian region, and the unique charm of Central Asian cultures also greatly attracts Chinese people,” said Nurmammedov Dovraniz from Turkmenistan, who is studying archaeology at Northwest University of China.

    According to the young man, mutual cultural attraction is a solid foundation for building a community of shared destiny between China and Central Asia.

    “China’s cooperation with Central Asian countries in all areas is rapidly deepening and developing. The youth of our countries are living in a “golden age”, they have bright prospects and broad opportunities for development,” Sun Weidong noted.

    Vice-Rector for International Relations of the Tajik Technical University named after Academician M. Osimi Rauf Jurakhonzoda noted that in recent years there has been a positive trend in cultural and humanitarian exchanges between China and Tajikistan.

    A striking example of this, according to him, is the launch in Tajikistan of the first “Luban Workshop” in Central Asia, aimed at training engineering personnel for the industrialization and modernization of the country.

    “We plan to introduce new formats of cooperation with Chinese universities. This is not only a contribution to the development of education, but also strengthening the friendship between our peoples,” added R. Jurakhonzoda.

    On June 7, the first China-Central Asia international tourist train returned to Xi’an. The train with more than 200 passengers departed from Xi’an on May 29 for Almaty, Kazakhstan. It left China via the Khorgos railway checkpoint in the Xinjiang Uygur Autonomous Region /Northwest China/.

    Let us recall that in May 2023, China and Kazakhstan signed an intergovernmental agreement on mutual exemption from visa requirements, which officially entered into force in November of the same year. 2024 was the Year of Kazakhstan Tourism in China, and 2025 has been declared the Year of China Tourism in Kazakhstan.

    According to Li Jiang, deputy head of Horgos Customs, the launch of the above-mentioned international tourist train has laid a new foundation for deepening connectivity and promoting people-to-people exchanges between China and Central Asian countries.

    In addition, on June 1, 2025, the Agreement between the Government of the People’s Republic of China and the Government of the Republic of Uzbekistan on mutual exemption from visa requirements entered into force.

    “Undoubtedly, this will contribute to the development of the tourism sector and increase the tourist flow,” said the Minister-Counselor of the Embassy of Uzbekistan in China Saidkamol Agzamkhodjaev, adding that Uzbekistan intends to increase the number of Chinese tourists visiting Uzbekistan annually to 1 million people.

    “As a ‘lubricant’ for the development of China’s relations with Central Asian countries, humanitarian exchanges contribute to their sustainable and healthy development,” Ma Bin emphasized.

    Sun Weidong noted that China’s relations with Central Asian countries will develop to a higher level, and their cooperation will expand to broader areas, which will contribute to the deep and thorough advancement of building a community with a shared future for China and Central Asia.

    MIL OSI Russia News