Source: Peoples Bank of China
Announcement on Open Market Operations No.112 [2025]
(Open Market Operations Office, June 16, 2025)
The People’s Bank of China conducted reverse repo operations in the amount of RMB242 billion through quantity bidding at a fixed interest rate on June 16, 2025.
Details of the Reverse Repo Operations
|
Maturity |
Rate |
Bidding Volume |
Winning Bid Volume |
|
7 days |
1.40% |
RMB242 billion |
RMB242 billion |
Date of last update Nov. 29 2018
2025年06月16日
Source: NZCTU
The New Zealand Council of Trade Unions Te Kauae Kaimahi is dismayed by the Government’s decision to abstain from the new International Labour Organization (ILO) Convention on biological hazards that would strengthen worker protections.
“This Convention provides a comprehensive framework for preventing and managing biological workplace health and safety issues,” said NZCTU President Richard Wagstaff.
“Representatives of Government, employers’ and workers’ organizations at the 113th International Labour Conference have resoundingly voted for the adoption this new Convention and accompanying Recommendation on protection against biological hazards in the working environment.
“There is strong international support for this Convention which has been ratified by more than 95% of representatives from the 187 ILO member states. The New Zealand workers’ delegation voted in favour of this convention which embeds the importance of healthy and safe work as a fundamental aspect of good work for everyone.
“Unfortunately, the New Zealand Government has joined Bangladesh, Djibouti, Panama, Algeria, Guatemala, and India as the only Governments to vote against or abstain in the vote for the Convention. New Zealand Business representatives did not vote at all.
“The failure of the Government to support this convention reflects its total disregard and disinterest in workers’ safety and health and shows how isolated New Zealand has become from global efforts to improve safeguards at work,” said Wagstaff.
James Ritchie, the Spokesperson for the biological hazards Convention stated:
“This is the first international instrument that specifically addresses biological hazards in the working environment at the global level. It follows the Covid pandemic, and the 2022 decision to include a safe and healthy working environment in the ILO’s framework of fundamental principles and rights at work.
“The New Zealand Government rejection of this historic convention is not a theoretical exercise, implementing its provisions would save lives now and during future outbreaks of infectious diseases,” said Ritchie.
Source: The Conversation (Au and NZ) – By Myra Williamson, Senior Lecturer in Law, Auckland University of Technology
Seabed mining could become one of the defining environmental battles of 2025. Around the world, governments are weighing up whether to allow mining of the ocean floor for metal ores and minerals. New Zealand is among them.
The stakes are high. Deep-sea mining is highly controversial, with evidence showing mining activity can cause lasting damage to fragile marine ecosystems. One area off the east coast of the United States, mined as an experiment 50 years ago, still bears scars and shows little sign of recovery.
With the world facing competing pressures – climate action and conservation versus demand for resources – New Zealand must now decide whether to fast-track mining, regulate it tightly, or pause it entirely.
A major flashpoint is governance in international waters. Under international law, seabed mining beyond national jurisdiction is managed by the International Seabed Authority (ISA), created by the United Nations Convention on the Law of the Sea (UNCLOS).
But the US has never ratified UNCLOS. In April this year, President Donald Trump issued an executive order to bypass the ISA and allow companies to begin mining in international waters.
The ISA has pushed back, warning unilateral action breaches international law. However, the declaration from the recently concluded UN Ocean Conference in France does not urge countries to adopt a precautionary approach, nor does it ban deep seabed mining.
The declaration does “reiterate the need to increase scientific knowledge on deep sea ecosystems” and recognises the role of the ISA in setting “robust rules, regulations and procedures for exploitation of resources” in international waters.
So, while the international community supports multilateralism and international law, deep-sea mining in the near future remains a real possibility.
In the Pacific, some countries have already made up their minds about which way they will go. Nauru recently updated its agreement with Canadian-based The Metals Company to begin mining in the nearby Clarion Clipperton Zone. The deal favours the US’s go-it-alone approach over the ISA model.
By contrast, in 2022, New Zealand’s Labour government backed the ISA’s moratorium and committed to a holistic ocean management strategy. Whether that position still holds is unclear, given the current government’s policies.
The list of applications under the Fast-track Approvals Act 2024 – described by Regional Development Minister Shane Jones as “arguably the most permissive regime” in Australasia – includes two controversial seabed mining proposals in Bream Bay and off the Taranaki coast:
Trans-Tasman Resources’ proposal to extract up to 50 million tonnes of Taranaki seabed material annually to recover heavy mineral sands that contain iron ore as well as rare metal elements titanium and vanadium.
McCallum Brothers Ltd’s Bream Bay proposal to dredge up to 150,000 cubic metres of sand yearly for three years, and up to 250,000 cubic metres after that.
Māori and environmental groups have opposed the fast-track policy, and the Treaty of Waitangi has so far been a powerful safeguard in seabed mining cases.
Provisions referencing Treaty principles appear in key laws, including the Crown Minerals Act and the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Act.
In 2021, the Supreme Court cited these obligations when it rejected a 2016 marine discharge application by Trans-Tasman Resources to mine the seabed in the Taranaki Bight. The court ruled Treaty clauses must be interpreted in a “broad and generous” way, recognising tikanga Māori and customary marine rights.
But that legal landscape could soon change. The Regulatory Standards Bill, now before parliament, would give priority to property rights over environmental or Indigenous protections in the formulation of new laws and regulations.
The bill also allows for the review of existing legislation. In theory, if the Regulatory Standards Bill becomes law, it could result in the removal of Treaty principles clauses from legislation.
This in turn could deny courts the tools they’ve previously used to uphold environmental and Treaty-based protections to block seabed mining applications. That would make it easier to approve fast-tracked projects such as the Bream Bay and Taranaki projects.
Meanwhile, Hawai’i has gone in a different direction. In 2024, the US state passed a law banning seabed mining in state waters – joining California (2022), Washington (2021) and Oregon (1991).
Under the Hawai’i Seabed Mining Prevention Act, mining is banned except in rare cases such as beach restoration. The law cites the public’s right to a clean and healthy environment.
As global conflict brews over seabed governance, New Zealand’s eventual position could set a precedent.
Choosing to prohibit seabed mining in New Zealand waters, as Hawai’i has done, would send a strong message that environmental stewardship and Indigenous rights matter more than short-term resource extraction interests.
If New Zealand does decide to go ahead with seabed mining, however, it could trigger a cascade of mining efforts across New Zealand and the Pacific. A crucial decision is fast approaching.
Myra Williamson 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. Seabed mining is becoming an environmental flashpoint – NZ will have to pick a side soon – https://theconversation.com/seabed-mining-is-becoming-an-environmental-flashpoint-nz-will-have-to-pick-a-side-soon-258908
Source: Northern Territory Police and Fire Services
As part of ACT Government’s ‘One Government, One Voice’ program, we are transitioning this website across to our . You can access everything you need through this website while it’s happening.
Released 16/06/2025 – Joint media release
The ACT Government is delivering targeted cost of living relief in the 2025–26 ACT Budget, with new and continued support for Canberrans who need it most.
The Budget includes a permanent $50 increase to the Electricity, Gas and Water Rebate, bringing the total annual rebate to $800 for eligible low-income households. In partnership with the Australian Government, the ACT Government is also providing up to $150 in additional electricity bill relief through the Energy Bill Relief Fund.
Chief Minister Andrew Barr said the ACT Government continues to focus on equity and inclusion, ensuring support is directed where it’s needed most.
“While many Canberrans enjoy a high standard of living, we know that cost of living pressures are real and growing for people on low incomes,” the Chief Minister said.
“We are permanently increasing the electricity rebate to $800 per year to help ease household budgets, while also delivering additional energy bill relief in partnership with the Commonwealth.”
Treasurer Chris Steel said the Government is focused on practical support that makes a tangible difference.
“This permanent rebate increase for Canberrans, and extension of the rebate to health care card holders, will ensure that cost of living relief is provided to those who need it most,” Minister Steel said.
“Our cost of living measures have been designed to work alongside national initiatives like the Commonwealth’s Energy Bill Relief Fund to maximise the benefit.”
From 1 July 2025, eligible ACT households and small businesses will receive up to $150 in further electricity bill rebates under the Energy Bill Relief Fund. Most Canberrans will receive this rebate automatically on their electricity bills.
Finance Minister Rachel Stephen-Smith said the Budget balances immediate support with long-term financial responsibility.
“The ACT Government is making deliberate, targeted investments that make a real difference in people’s lives, while ensuring our Budget remains fiscally sustainable,” Minister Stephen-Smith said.
“By focusing support where it’s needed most, we’re helping low-income households manage day-to-day costs while continuing to invest in vital services and Canberra’s future.”
View more information about eligibility and how to access support.
– Statement ends –
Andrew Barr, MLA | Chris Steel, MLA | Rachel Stephen-Smith, MLA | Media Releases
ER Report: Here is a summary of significant articles published on EveningReport.nz on June 16, 2025.
‘No kings!’: like the LA protesters, the early Romans hated kings, too
Source: The Conversation (Au and NZ) – By Peter Edwell, Associate Professor in Ancient History, Macquarie University Protesters across the United States have brandished placards declaring “no kings!” in recent days, keen to send a message one-man rule is not acceptable. The defeat of the forces of King George III in the United States’ revolutionary
Keith Rankin Analysis – Clio: Whose side is ‘History’ on?
Analysis by Keith Rankin. Is history binary? A judge of past behaviour with just two available options: thumbs-up, or thumbs-down? If you are not on the ‘right side’ of history, are you therefore on the ‘wrong side’? Can there be a ‘right side of history’? Given the contexts that we now proclaim to be the
Millions rally against authoritarianism, while the White House portrays protests as threats – a political scientist explains
Source: The Conversation (Au and NZ) – By Jeremy Pressman, Professor of Political Science, University of Connecticut Protesters parade through the Marigny neighborhood of New Orleans as part of the nationwide No Kings protest against President Donald Trump, on June 14, 2025. Patt Little/Anadolu via Getty Images At the end of a week when President
A 3-tonne, $1.5 billion satellite to watch Earth’s every move is set to launch this week
Source: The Conversation (Au and NZ) – By Steve Petrie, Earth Observation Researcher, Swinburne University of Technology Artist’s concept of the NISAR satellite in orbit over Earth. NASA/JPL-Caltech In a few days, a new satellite that can detect changes on Earth’s surface down to the centimetre, in almost real time and no matter the time
Decades on from the Royal Commission, why are Indigenous people still dying in custody?
Source: The Conversation (Au and NZ) – By Thalia Anthony, Professor of Law, University of Technology Sydney Rose Marinelli/Shutterstock Aboriginal and Torres Strait Islander readers are advised that this article contains the name of an Indigenous person who has died. The recent deaths in custody of two Indigenous men in the Northern Territory have provoked
Need to see a specialist? You might have to choose between high costs and a long wait. Here’s what needs to change
Source: The Conversation (Au and NZ) – By Peter Breadon, Program Director, Health and Aged Care, Grattan Institute If you have cancer, a disease such as diabetes or dementia, or need to manage other complex health conditions, you often need expert care from a specialist doctor. But as our new Grattan Institute report shows, too
Small businesses are an innovation powerhouse. For many, it’s still too hard to raise the funds they need
Source: The Conversation (Au and NZ) – By Colette Southam, Associate Professor of Finance, Bond University The federal government wants to boost Australia’s productivity levels – as a matter of national priority. It’s impossible to have that conversation without also talking about innovation. We can be proud of (and perhaps a little surprised by) some
A solar panel recycling scheme would help reduce waste, but please repair and reuse first
Source: The Conversation (Au and NZ) – By Deepika Mathur, Senior Research Fellow, Northern Institute, Charles Darwin University tolobalaguer.com, Shutterstock Australia’s rooftop solar industry has renewed calls for a mandatory recycling scheme to deal with the growing problem of solar panel waste. Only about 10% of panels are currently recycled. The rest are stockpiled, sent
Why Israel’s shock and awe has proven its power but lost the war
COMMENTARY: By Antony Loewenstein War is good for business and geopolitical posturing. Before Israeli Prime Minister Benjamin Netanyahu arrived in Washington in early February for his first visit to the US following President Donald Trump’s inauguration, he issued a bold statement on the strategic position of Israel. “The decisions we made in the war [since
Netanyahu has two war aims: destroying Iran’s nuclear program and regime change. Are either achievable?
Source: The Conversation (Au and NZ) – By Ian Parmeter, Research Scholar, Middle East Studies, Australian National University Israeli Prime Minister Benjamin Netanyahu has said Israel’s attack on Iran’s nuclear facilities could last for at least two weeks. His timing seems precise for a reason. The Israel Defence Forces and the country’s intelligence agencies have
Israel’s attacks on Iran are already hurting global oil prices, and the impact is set to worsen
Source: The Conversation (Au and NZ) – By Joaquin Vespignani, Associate Professor of Economics and Finance, University of Tasmania The weekend attacks on Iran’s oil facilities – widely seen as part of escalating hostilities between Israel and Iran – represent a dangerous moment for global energy security. While the physical damage to Iran’s production facilities
Vehicle issued to Fiji assistant minister involved in fatal accident – driver’s son implicated
By Anish Chand in Suva The son of a Fiji assistant minister is under investigation for allegedly driving a government vehicle without authority and causing an accident that killed two men. The accident took place along Bau Road, Nausori, last night. The vehicle involved in the accident was the official government vehicle issued for the
Caitlin Johnstone: We are, of course, being lied to about Iran
Report by Dr David Robie – Café Pacific. – COMMENTARY: By Caitlin Johnstone Iran and Israel are at war, with the US already intimately involved and likely to become more so. Which of course means we’ll be spending the foreseeable future getting bashed in the face with lies from the most powerful people in the
Source: Panasonic
Headline: Panasonic launches services for VIXELL Container
Tokyo, Japan, June 16, 2025 – Panasonic Corporation (Head Office: Minato-ku, Tokyo; President & CEO: Masahiro Shinada; hereinafter referred to as Panasonic) today announced that it has launched rental and other services for the VIXELL Container, after adding it to the VIXELL product lineup, vacuum-insulated cooling boxes used to transport pharmaceuticals and investigational drugs that require strict temperature control. The VIXELL Container is a large-capacity cooling box that can load palletized cargo as is and keep it refrigerated for up to 10 days without a power source.
Active containers equipped with a cooling system are generally used for the international transportation of pharmaceuticals that require strict temperature control. With a power source, they can maintain a constant temperature for a prolonged period, while posing possible temperature excursion issues, including a sudden failure of the cooling system or exposure to outside air when reloading cargo into refrigerated trucks. As part of measures to address these risks, passive containers are increasingly being used. They do not require a power source, as they use coolants. However, typical passive containers can only keep cargo refrigerated for a short period of three to five days. If the duration of transportation increases due to flight delays or customs clearance issues, the cargo must be removed and stored in a refrigerated area, or the coolants inside the containers must be replaced.
Panasonic’s new VIXELL Container can keep cargo refrigerated for up to 10 days, the longest duration in the industry for passive containers.*2 This will avoid the need to replace coolants even if transportation is prolonged for a few days due to flight or customs procedural delays. Furthermore, since cargo can be transported in the VIXELL Container without having to reload it into refrigerated trucks, it will reduce the risk of temperature excursions due to exposure to outside air. The VIXELL Container can accommodate a T11 pallet (1100 x 1100 mm) used in Japan as well as pallets sized 1000 x 1200 mm, common in Europe and the U.S., allowing palletized cargo to remain loaded. Also, a structure that allows radio waves to pass through the cooling box for communication, one of the features of VIXELL, is also incorporated in the VIXELL Container, enabling remote access to shipping temperature data and location information via a real-time data logger.*3
In addition to the box and pallet types, VIXELL now offers the container type, meeting a wide range of temperature-controlled transportation needs through a diverse lineup of products. Moreover, aside from renting and leasing the VIXELL Container, Panasonic has also launched rental services for overseas transportation, in which the used VIXELL Container will be collected and reused by leveraging its robustness. This initiative will contribute to a circular economy by establishing a recycling system that reduces waste.
Notes:
*1: Cooling period at an outside temperature of 30°C
*2: As of June 2025, according to Panasonic’s research
*3: Device for recording real-time measurement data (e.g. temperature, humidity, pressure)
■Product features
1. Keeping cargo refrigerated for up to 10 days
An aluminum-free vacuum insulation case (VIC: Vacuum Insulated Case) prevents cold air from escaping through joints, ensuring cold retention up to 10 days. Since the container does not require reloading or a power source, it reduces the risk of temperature excursions and enables prolonged cold transportation at low cost.
2. Robust and reliable
The VIC’s envelope, three to ten times thicker than common vacuum insulation panels (VIP: Vacuum Insulated Panel), protects the VIC’s vacuum state from vibrations during transportation and drop impacts from cargo handling. It is difficult to identify a decrease in insulation performance of common containers due to damage sustained in transit. On the other hand, this product is equipped with a wireless vacuum sensor, which instantly assesses its insulation performance before use.
3. Easy to use and accurate
The product’s structure allows palletized cargo to be loaded as is. It can accommodate a standard pallet (T11, 1100 x 1100 mm) used in Japan as well as pallets sized 1200 x 1000 mm, common in Europe and the U.S. The container door features a locking mechanism, and the design allows radio waves to pass through, enabling remote access to shipping temperature data and location information via a real-time data logger.
■Product specifications
External dimensions: 1549 mm (w) x 1462 mm (d) x 1567 mm (h)
Internal dimensions: 1246 mm (w) x 1135 mm (d) x 1090 mm (h)
Payload: 1541 L
Cooling temperature range: Below -20°C, 2°C to 8°C, 15°C to 25°C
Cooling period (at an outside temperature of 30°C): 10 days
Weight: 635 kg (Below -20°C), 565 kg (2°C to 8°C), 565 kg (15°C to 25°C)
Services provided: Rental or lease for single-use in Japan (including precooling and product delivery)Rental for overseas transportation (including container collection, see the diagram below)
VIXELL temperature-controlled transportation solutions websitehttps://www.panasonic.com/global/business/vixell.html
About Panasonic Corporation
Panasonic Corporation offers products and services for a variety of living environments, ranging from homes to stores to offices and cities. There are five businesses at the core of Panasonic Corporation: Living Appliances and Solutions Company, Heating & Ventilation A/C Company, Cold Chain Solutions Company, Electric Works Company and China and Northeast Asia Company. The operating company reported consolidated net sales of 3,584.2 billion yen for the year ended March 31, 2025. Panasonic Corporation is committed to fulfilling the mission of Life Tech & Ideas: For the wellbeing of people, society and the planet, and embraces the vision of becoming the best partner of your life with human-centric technology and innovation. Learn more about Panasonic: https://www.panasonic.com/global/about.html
Source: Panasonic
Headline: Panasonic launches services for VIXELL Container
Tokyo, Japan, June 16, 2025 – Panasonic Corporation (Head Office: Minato-ku, Tokyo; President & CEO: Masahiro Shinada; hereinafter referred to as Panasonic) today announced that it has launched rental and other services for the VIXELL Container, after adding it to the VIXELL product lineup, vacuum-insulated cooling boxes used to transport pharmaceuticals and investigational drugs that require strict temperature control. The VIXELL Container is a large-capacity cooling box that can load palletized cargo as is and keep it refrigerated for up to 10 days without a power source.
Active containers equipped with a cooling system are generally used for the international transportation of pharmaceuticals that require strict temperature control. With a power source, they can maintain a constant temperature for a prolonged period, while posing possible temperature excursion issues, including a sudden failure of the cooling system or exposure to outside air when reloading cargo into refrigerated trucks. As part of measures to address these risks, passive containers are increasingly being used. They do not require a power source, as they use coolants. However, typical passive containers can only keep cargo refrigerated for a short period of three to five days. If the duration of transportation increases due to flight delays or customs clearance issues, the cargo must be removed and stored in a refrigerated area, or the coolants inside the containers must be replaced.
Panasonic’s new VIXELL Container can keep cargo refrigerated for up to 10 days, the longest duration in the industry for passive containers.*2 This will avoid the need to replace coolants even if transportation is prolonged for a few days due to flight or customs procedural delays. Furthermore, since cargo can be transported in the VIXELL Container without having to reload it into refrigerated trucks, it will reduce the risk of temperature excursions due to exposure to outside air. The VIXELL Container can accommodate a T11 pallet (1100 x 1100 mm) used in Japan as well as pallets sized 1000 x 1200 mm, common in Europe and the U.S., allowing palletized cargo to remain loaded. Also, a structure that allows radio waves to pass through the cooling box for communication, one of the features of VIXELL, is also incorporated in the VIXELL Container, enabling remote access to shipping temperature data and location information via a real-time data logger.*3
In addition to the box and pallet types, VIXELL now offers the container type, meeting a wide range of temperature-controlled transportation needs through a diverse lineup of products. Moreover, aside from renting and leasing the VIXELL Container, Panasonic has also launched rental services for overseas transportation, in which the used VIXELL Container will be collected and reused by leveraging its robustness. This initiative will contribute to a circular economy by establishing a recycling system that reduces waste.
Notes:
*1: Cooling period at an outside temperature of 30°C
*2: As of June 2025, according to Panasonic’s research
*3: Device for recording real-time measurement data (e.g. temperature, humidity, pressure)
■Product features
1. Keeping cargo refrigerated for up to 10 days
An aluminum-free vacuum insulation case (VIC: Vacuum Insulated Case) prevents cold air from escaping through joints, ensuring cold retention up to 10 days. Since the container does not require reloading or a power source, it reduces the risk of temperature excursions and enables prolonged cold transportation at low cost.
2. Robust and reliable
The VIC’s envelope, three to ten times thicker than common vacuum insulation panels (VIP: Vacuum Insulated Panel), protects the VIC’s vacuum state from vibrations during transportation and drop impacts from cargo handling. It is difficult to identify a decrease in insulation performance of common containers due to damage sustained in transit. On the other hand, this product is equipped with a wireless vacuum sensor, which instantly assesses its insulation performance before use.
3. Easy to use and accurate
The product’s structure allows palletized cargo to be loaded as is. It can accommodate a standard pallet (T11, 1100 x 1100 mm) used in Japan as well as pallets sized 1200 x 1000 mm, common in Europe and the U.S. The container door features a locking mechanism, and the design allows radio waves to pass through, enabling remote access to shipping temperature data and location information via a real-time data logger.
■Product specifications
External dimensions: 1549 mm (w) x 1462 mm (d) x 1567 mm (h)
Internal dimensions: 1246 mm (w) x 1135 mm (d) x 1090 mm (h)
Payload: 1541 L
Cooling temperature range: Below -20°C, 2°C to 8°C, 15°C to 25°C
Cooling period (at an outside temperature of 30°C): 10 days
Weight: 635 kg (Below -20°C), 565 kg (2°C to 8°C), 565 kg (15°C to 25°C)
Services provided: Rental or lease for single-use in Japan (including precooling and product delivery)Rental for overseas transportation (including container collection, see the diagram below)
VIXELL temperature-controlled transportation solutions websitehttps://www.panasonic.com/global/business/vixell.html
About Panasonic Corporation
Panasonic Corporation offers products and services for a variety of living environments, ranging from homes to stores to offices and cities. There are five businesses at the core of Panasonic Corporation: Living Appliances and Solutions Company, Heating & Ventilation A/C Company, Cold Chain Solutions Company, Electric Works Company and China and Northeast Asia Company. The operating company reported consolidated net sales of 3,584.2 billion yen for the year ended March 31, 2025. Panasonic Corporation is committed to fulfilling the mission of Life Tech & Ideas: For the wellbeing of people, society and the planet, and embraces the vision of becoming the best partner of your life with human-centric technology and innovation. Learn more about Panasonic: https://www.panasonic.com/global/about.html
Source: People’s Republic of China – State Council News
The People’s Bank of China (PBOC), the country’s central bank, said on Friday that it will conduct a 400-billion-yuan (about 55.7 billion U.S. dollars) outright reverse repo operation on June 16 to maintain ample liquidity in China’s banking system.
The operation will carry a six-month tenor and be conducted using a fixed-quantity, interest-rate-bidding and multiple-price-bidding method, according to the PBOC statement.
Outright reverse repo operations — a tool the central bank introduced in October 2024 to manage liquidity in the banking system — are carried out once each month with a tenor of no more than a year.
This new option has enriched the country’s monetary policy toolkit following the introduction of temporary repos, temporary reverse repos, and the buying and selling of treasury bonds.
Source: People’s Republic of China – State Council News
The outstanding amount of China’s deposits in yuan climbed 8.1 percent to 316.96 trillion yuan (about 44.16 trillion U.S. dollars) at the end of May from the same period last year, central bank data showed Friday.
Deposits in yuan rose by 14.73 trillion yuan in the first five months of 2025, according to the People’s Bank of China.
Of the total, household deposits increased by 8.3 trillion yuan, while deposits from non-financial enterprises decreased by 7.3 billion yuan. Fiscal deposits rose by 2.07 trillion yuan, and deposits from non-bank financial institutions increased by 3.07 trillion yuan.
The outstanding amount of domestic and foreign currency deposits climbed 8.3 percent year on year to 324.08 trillion yuan at the end of May.
The balance of foreign currency deposits reached 990.1 billion U.S. dollars at the end of May, up 19 percent year on year. Foreign currency deposits rose by 137.2 billion U.S. dollars in the first five months.
Source: People’s Republic of China – State Council News
This photo taken on June 12, 2025 shows guests talking prior to the opening ceremony of the fourth China-Africa Economic and Trade Expo in Changsha, central China’s Hunan Province. [Photo/Xinhua]
The fourth China-Africa Economic and Trade Expo, themed “China and Africa: Together Toward Modernization,” opened on Thursday in Changsha, capital of central China’s Hunan Province.
The expo takes place half a year after China granted zero-tariff treatment on 100 percent of product categories to all least developed countries (LDCs) with which it has diplomatic relations, including 33 African countries, starting from Dec. 1, 2024.
Following the implementation of the zero-tariff policy, bilateral economic ties have gone from strength to strength, as vividly demonstrated in the dynamic economic and trade cooperation at the expo.
Expo of cooperation
According to statistics, 83 percent of signed projects during the first three versions of the China-Africa Economic and Trade Expo had been implemented since its launch in 2019.
Nearly 4,700 Chinese and African companies as well as over 30,000 participants are attending this year’s expo. During the event, 176 cooperation projects worth 11.39 billion U.S. dollars were signed, covering diverse sectors including construction and manufacturing, power and energy, transportation, information services, as well as culture and healthcare.
At the four-day event, more than 800 African products, ranging from Kenyan black tea to Congolese framed artwork, either debuted or expanded their presence in the Chinese market, a stable and promising destination supported by favorable policies and platforms.
In recent years, many African countries have actively embarked on expanding trade with China, especially in the wake of the zero-tariff policy.
Gambian Ambassador to China Masanneh Nyuku Kinteh highly valued China’s implementation of the zero-tariff treatment, expressing the belief that it presents a significant opportunity for Africa by turning China’s vast market into a shared platform for development.
At present, some Gambian seafood products have been exported to China, he said, adding that many more Gambian goods will be available in the coming years.
From December to March, China’s imports from African LDCs rose 15.2 percent year on year, reaching 21.42 billion dollars, said an official from China’s Ministry of Commerce recently. In the first quarter of 2025, Chinese imports of African coffee surged by 70.4 percent, while cocoa bean imports rose by 56.8 percent.
Calling the zero-tariff policy “extremely good,” Dr. Isaac Shinyekwa, head of Trade and Regional Integration Department at the Economic Policy Research Centre of Makerere University of Uganda, noted that with the preferential zero-tariff treatment now in place, African countries need to “develop the products and the standards.”
Cheikh Tidiane Ndiaye, former editor-in-chief of the Senegalese News Agency, said in an interview that in recent years, China-Africa economic and trade cooperation — particularly between China and Senegal — has seen remarkable growth in several strategic sectors such as infrastructure, agriculture, fisheries and digital services.
China’s zero-tariff policy for products from African LDCs with diplomatic relations to China serves as a tangible boost for exporting higher value-added African products, which gives African producers easier access to the vast Chinese market, he said.
Visitors learn about an agricultural machine during the fourth China-Africa Economic and Trade Expo at Changsha International Convention and Exhibition Center in Changsha, central China’s Hunan Province, June 14, 2025. [Photo/Xinhua]
Why China
According to data released by the General Administration of Customs of China, China has maintained its position as Africa’s largest trading partner for 16 consecutive years, with bilateral trade volume surpassing 2 trillion yuan for the first time in 2024 to reach 2.1 trillion yuan (about 292.7 billion dollars).
From January to May 2025, China-Africa trade totaled 963.21 billion yuan (about 134.27 billion dollars), marking a 12.4 percent year-on-year increase and hitting a record high for the period.
Despite global economic uncertainties, Ndiaye, the former editor-in-chief, noted that China-Africa trade has shown strong resilience, driven by several key factors.
The structural complementarity between the two sides creates a strong foundation, and cooperation mechanisms like the FOCAC ensure continuous and pragmatic coordination between the two sides, he said.
Most important of all, China’s engagement with Africa is grounded in mutual respect and equality, said Ndiaye, adding that China’s policy is more inclusive, stable, non-political, and aligns with the development priorities of African nations.
Africa will continue to shift its focus toward Asia, particularly China, said Carlos Lopes, former executive secretary of the United Nations Economic Commission for Africa and currently an honorary professor at the Mandela School of Public Governance at the University of Cape Town.
“The engagements (with China) are often more pragmatic, less moralizing, and increasingly strategic,” said Lopes.
Source: People’s Republic of China – State Council News
Toys themed on Labubu, a popular furry doll from Chinese toy company Pop Mart, are pictured during the opening ceremony of a new offline store of Pop Mart in Bangkok, Thailand, July 5, 2024. (Xinhua/Sun Weitong)
Labubu — a toothy, fluffy figure toy from Chinese brand Pop Mart — has sparked a global frenzy, demonstrating how the country’s enterprises are reshaping their international image through innovation, cultural storytelling and the globalization of homegrown intellectual property (IP).
China has long been the world’s largest producer and exporter of toys. Historically, much of this output consisted of low-cost goods manufactured for foreign brands. Today, however, a new generation of collectible designer toys such as Labubu is redefining the industry by exporting not only products but also stories and sentiment.
Pop Mart, the Beijing-based toymaker behind Labubu and other original-IP characters, is among those leading the shift. Propelled by international hype, the company registered year-on-year revenue growth of 165 to 170 percent in the first quarter of 2025, with overseas revenues soaring 475 to 480 percent.
Pop Mart is not alone in stepping up brand-building efforts in the global toy market. Chinese toymaker TOP TOY now operates over 280 stores worldwide, and 52TOYS reported a 300 percent increase in its business in Thailand in 2024.
The viral popularity of Labubu and similar toys has spotlighted China’s burgeoning cultural industry, which is emerging as a calling card for Chinese exports.
China’s cultural industry sustained steady growth in 2024, with 78,000 surveyed enterprises generating 14.15 trillion yuan (about 1.97 trillion U.S. dollars) in revenues, up 6 percent year on year. These firms reported combined profits of 1.29 trillion yuan — a 10.8 percent increase from 2023.
The gaming industry is another striking example of how Chinese culture is reaching global consumers. “Black Myth: Wukong,” a 3A video game with cutting-edge graphics, has attracted a sizable international following, with one-third of its players based outside China. Meanwhile, established gaming hits like “Genshin Impact” and “Honkai: Star Rail” continue to rank among the top downloaded items in over 100 countries and regions.
Data from the China Audio-Video and Digital Publishing Association shows that China’s self-developed game products reported overseas revenues of 18.56 billion U.S. dollars in 2024, up 13.39 percent from the previous year.
China’s vast network of factories, spanning every industrial category classified by the United Nations, remains the backbone of this cultural ascent. For Pop Mart, manufacturing excellence is a key part of bringing creative visions to reality. Years of experience have enabled Chinese factories to meet even the most meticulous design requirements, such as crafting a specific component solely to make a doll’s eyes glossier and more expressive.
“If you can make toys for Pop Mart, you can make any designer toy in the world,” the owner of a factory that works with Pop Mart once said.
The transition from exporting products to exporting brands and IP is a natural result of China’s economic evolution, said Lan Qingxin, a professor at the University of International Business and Economics.
“It demonstrates the upgrading of China’s industrial structure and the growing maturity of Chinese enterprises in their international operations,” Lan added.
Source: Samsung
▲ Hedi Mertens’s Gruppo di quadrati sulla base di un quadrato (1966) shown on Neo QLED by Samsung.
Samsung Electronics, the Official Art TV of Art Basel, today announced the launch of the Art Basel in Basel (ABB) Collection, an exclusive curation of digital art available across Samsung TVs with Samsung Art Store.1 Representing the most extensive Art Basel collection to date, the ABB Collection introduces 38 curated works from globally renowned artists and galleries — marking a new milestone in Samsung and Art Basel’s mission to bring world-class art to a wider audience.
The ABB Collection stands apart for its emphasis on diversity, with works that span continents, mediums and voices. For the first time, the collection features representation from an Africa-based gallery, deepening the global reach and cultural richness of the Samsung x Art Basel initiative. Some of this collection will be displayed at the Art Basel, from June 19-22, at Messe Basel in Switzerland.2
A Curated Vision of Global Expression
Handpicked from over 100 submissions, the 38 pieces in the ABB Collection were carefully curated with a focus on artist diversity, medium variety and geographic representation. The collection celebrates both emerging talent and established visionaries, aligning with Art Basel’s dedication to championing contemporary art from all corners of the world.
Highlights include:
Roméo Mivekannin, “Young woman with peonies after Frédéric Bazille” (2023): A compelling reimagining of classical portraiture from a postcolonial perspective.
Basim Magdy, “An Intergalactic Messenger Teleported us to a Cave Settlement Ruled by Shared Compassion and Humility” (2022): A vibrant exploration of utopian futurism.
Zandile Tshabalala, “Pink Blossoms” (2024): A powerful portrait celebrating Black femininity and nature.
Antonia Kuo, “Willo” (diptych) (2024): A striking dual-panel composition that fuses digital manipulation with analog techniques.
The collection also includes works by iconic names such as Jo Baer, Kibong Rhee and Lynn Hershman Leeson, further enriching the visual and thematic depth of this year’s selection.
ArtCube: An Interactive Hands-on Experience at Art Basel
▲ Jo Baer’s Untitled (1961-1962) shown on Neo QLED by Samsung.
To further highlight the intersection of art and technology, Samsung will present an interactive lounge titled ArtCube3 at Art Basel. This immersive showcase will demonstrate how The Frame, MICRO LED and Neo QLED 8K redefine digital art experiences by displaying artwork — including selections from the Art Basel Collection — with breathtaking detail and depth.
ArtCube invites visitors to engage with the Samsung Art Store’s exclusive collections and freely experience the premium picture quality. Visitors can also make customized portraits of moving art pieces only available through ArtCube’s tailored curation. In addition to the ArtCube lounge experience, Samsung will host a series of panel discussions featuring influential voices from the contemporary art scene, sparking conversations around technology’s expanding role in artistic expression and accessibility.
Strengthening a Cultural Partnership
Samsung and Art Basel have partnered to introduce curated digital collections that began with the 2024 Art Basel Miami Beach, 2025 Art Basel Hong Kong, and now includes the 2025 Art Basel in Basel. Artworks from Art Basel Hong Kong, launched in March, have gained global popularity among Art Store users, ranking them in top 10 most-viewed art pieces.4 This ongoing collaboration highlights the shared vision of expanding the role of displays as vibrant platforms for storytelling and artistic dialogue.
“With the launch of a new collection in the Samsung Art Store for Art Basel in Basel 2025, we’re thrilled to offer our global audiences new ways to engage with our show,” said Maike Cruse, Director of Art Basel in Basel. Our global partnership with Samsung extends the visitor experience beyond the Messe and into people’s homes — creating new entry points to discover the exceptional artists and galleries that define our flagship fair in Basel.”
Completing a Unique Art Experience on Samsung Art TVs
▲ Lynn Hershman Leeson’s Seduction (1985) shown on Neo QLED 8K by Samsung.
Samsung Art Store offers the best way to transform your TV and elevate your home decor with the perfect piece of art for every season, holiday and mood. You can choose from 3,500+ works of art spanning over 800 artists, including the ABB Collection.
Spanning the Neo QLED 8K, Neo QLED, QLED, The Frame and The Frame Pro, which are powered by Samsung Vision AI for AI-enhanced picture and sound, Samsung Art Store is newly available across the Samsung 2025 TV lineup. These TV models also come with new personalized features that bring users closer to all the shows, movies and sports they love. Across the lineup, Samsung offers more ways than ever to transform TV screens into personalized art galleries.
The Art Basel in Basel Collection is now available exclusively on the Samsung Art Store to all Samsung Art TV users.
For more information, visit www.samsung.com.
About Art Basel
Founded in 1970 by gallerists from Basel, Art Basel today stages the world’s premier art shows for Modern and contemporary art, sited in Basel, Miami Beach, Hong Kong and Paris. Defined by its host city and region, each show is unique, which is reflected in its participating galleries, artworks presented, and the content of parallel programming produced in collaboration with local institutions for each edition. Art Basel’s engagement has expanded beyond art fairs through new digital platforms including the Art Basel App and initiatives such as the Art Basel and UBS Global Art Market Report and the Art Basel Awards. Art Basel’s Global Lead Partner is UBS. For further information, please visit artbasel.com.
1 Samsung Art TV includes MICRO LED, The Frame, The Frame Pro, Neo QLED 8K, Neo QLED and QLED models starting from Q7F and above.
2 Event is open to the public from June 19-22, after VIP opening from June 16-18.
3 Samsung Lounge ‘ArtCube’ is in Halle 1, the main exhibition floor inside Messe Basel.
4 The information provided is based on the results collected during April 2025.
Source: Samsung
At the United Nations Ocean Conference 2025 (UNOC)1 in Nice, held to mark World Oceans Day on June 8, Samsung Electronics hosted a premiere event for “Coral in Focus,” a new documentary that brings the global coral crisis into sharp relief. The event, held at Ocean House, featured a screening of the film followed by a panel discussion with leading voices in marine science, conservation and technology.
Directed by award-winning filmmaker Quentin van den Bossche, “Coral in Focus” follows scientists, engineers and local conservationists as they confront the urgent threats facing coral reefs — ecosystems that support up to a billion people and a quarter of all marine life. This work is part of a broader effort announced at Galaxy Unpacked in January 2025, where Samsung unveiled its partnership with Seatrees to support the restoration of coastal ecosystems with communities in Fiji, Indonesia and the United States, leveraging Galaxy camera technology to document and aid in the recovery of marine environments.
The documentary spotlights the urgent threats facing coral reefs and showcases how innovative technology and global collaboration can drive meaningful impact for marine ecosystems.
A Crisis Hidden Beneath the Surface
As ocean temperatures shattered records, more than 80% of the world’s reefs have suffered from mass bleaching. When corals bleach, they lose not just their color but their lifeblood — the algae that feed them. This crisis, largely invisible to the public, threatens biodiversity, food security and coastal resilience. Long-term climate action is crucial to safeguarding coral reefs, while short-term restoration efforts — informed and supported by innovative technology — can help them withstand rising ocean temperatures.
A Galaxy Smartphone That Sees Beneath the Waves
Samsung collaborated with Seatrees, a nonprofit dedicated to restoring marine ecosystems, and the Scripps Institution of Oceanography at the University of California, San Diego, a global leader in reef research, to pioneer a new frontier in coral restoration by exploring new, innovative solutions. Ocean Mode,2 a specialized camera feature created specifically for this partnership, was developed, introduced and validated in real-world conditions in Indonesia and Fiji. This process has created a credible foundation for broader scientific use while improving the overall accessibility of this new technology.
By enabling more scientists, conservationists and even citizen scientists with the ability to photograph, map and monitor reefs, Ocean Mode can help restoration efforts scale, and make it possible for anyone to protect more reefs, in more places, with greater impact.
Innovation With Measurable Impact
Ocean Mode transforms the Galaxy S24 Ultra into a mobile marine research tool, enabling vivid, high-resolution image capture even in challenging underwater conditions. It corrects the excessive blue and green hues typical of underwater photography, allowing for a more accurate representation of coral health and diversity.
The camera adjusts shutter speed and leverages multi-frame image processing to reduce motion blur caused by water movement or diver activity, ensuring sharp, detailed images. With its interval shooting capability, the device can automatically capture thousands of images in a single dive, dramatically improving both efficiency and consistency. These images can then be used to generate 3D models of coral reefs using technology known as photogrammetry, giving researchers a powerful way to visualize and study the drivers of the structure and health of reefs over time.
Over the past year, the project has delivered extraordinary results. With these coral restoration initiatives, 17 3D models of coral reefs have been made with the help of scientists and Samsung to analyze the impact of coral restoration efforts and validate the precision of Galaxy devices for photogrammetry. In total, Seatrees project partners planted more than 14,046 coral fragments to restore 10,705 square meters of coral reef habitat.
A Premiere With Purpose
The “Coral in Focus” premiere at Ocean House, in partnership with Project Everyone, brought together scientists, storytellers and sustainability leaders for a powerful conversation on the role that technology and global collaboration play in the future of coral reefs.
▲ (From left) Alex Heath, Cassie Smith, Dr. Daniel Wangpraseurt, Michael Stewart and Quentin van den Bossche
▲ “Ocean Mode became its own character in the documentary,” said Quentin van den Bossche, director of “Coral in Focus.” “This helped us illustrate some of the complex, specific challenges that reef conservationists encounter. And showing the difference between photos taken with and without Ocean Mode helped ground the technology in something visual and even emotional. This is where the impact of partnerships among companies, research institutes and nonprofits truly comes to life.”
▲ Michael Stewart, co-founder of Seatrees, holds a Galaxy S24 Ultra to show Ocean Mode Year 1 impact metrics — about 14,046 coral fragments planted across three restoration sites.
“A key focus of the coral restoration efforts is being able to monitor what’s working and what’s not. And that starts with capturing high-quality images of our supported reefs,” said Michael Stewart, co-founder of Seatrees. “Our local partners have really appreciated Ocean Mode because it has improved their ability to capture higher-quality images with Galaxy phones to make the 3D models created by the scientists at Scripps more accurate.”
“Mobile technology is a powerful way to connect communities with ecosystems they may never physically encounter but are deeply tied to through climate, biodiversity and cultural heritage,” said Daniel Wangpraseurt, Ph.D., associate research scientist at the Scripps Institution of Oceanography. “Smartphones are now capable of taking high-resolution imagery to help generate more accurate 3D models. They also hold unique potential to increase the pace at which we share this information with people around the world who may never get to experience a coral reef themselves.”
▲ “Through our partnership with Seatrees, we saw how Galaxy technology could play a role not just in responsible sourcing but in supporting coral reef restoration,” said Cassie Smith, Senior Manager, Corporate Sustainability and U.S. Public Affairs at Samsung Electronics America. “The documentary tells that story beautifully — showing what happens when like-minded partners, engineers, scientists and local communities come together with shared purpose and the right tools.”
▲ Attendees of the “Coral in Focus” documentary premiere included Swati Thiyagarajan, award-winning documentary filmmaker, environmental journalist with the Sea Change Project and associate producer and production manager of the Academy Award-winning “My Octopus Teacher”; Titouan Bernicot, founder and CEO of Coral Gardeners and National Geographic Explorer; and Beverly Camhe, writer, producer and entertainment executive.
“It’s essential for the private sector to be involved and help get impactful solutions off the ground,” said Lefteris Arapakis, co-founder of Enaleia. “We need all parties working together to protect and scale ocean conservation efforts. I’m especially excited about Ocean Mode — tools like this make our work more efficient and help us create greater impact.”
“It was a beautiful film, and I love how it left us with a sense of hope and something we could do about the problem,” said Dana Habib, associate at the Institute for Integrated Transitions.
▲ Panelists and attendees discuss the “Coral in Focus” film and project.
The discussion was moderated by Alex Heath, Managing Director, U.S. Head of Social Impact & Sustainability at Edelman. The event also featured 3D reef models generated from photogrammetry data created with Galaxy S24 Ultras used in the field.
Exploring Ocean Conservation at UNOC
In addition to the premiere of “Coral in Focus,” Samsung representatives spoke on two panels hosted by the United Nations Educational, Scientific and Cultural Organization (UNESCO-IOC) at the UNESCO-IOC “Beyond Borders: Ocean Futures” pavilion. First, Generation17 Young Leader José Francisco Ochoa spoke about the importance of digital technology and community partnership during the panel “Showcasing the Diversity of Ocean Literacy Practices Around the World,” where he shared insights on how Generation17 elevates his work to advance ocean literacy.
Samsung also participated in a panel discussion titled “The Role of Corals in Unlocking the Secrets of Biodiversity,” highlighting its commitment to marine conservation. Cassie Smith, Senior Manager of Corporate Sustainability and U.S. Public Affairs at Samsung Electronics, presented how Galaxy technology, including Ocean Mode, serves as a tool to support marine ecosystem protection through environmental monitoring, data collection and community engagement. The panel was part of a full day of programming held during UNOC that promotes ocean literacy and awareness of ocean preservation.
A Continued Commitment to Ocean Health
The collaboration with Seatrees builds on Samsung’s broader commitment to ocean health. Since 2022, the company has incorporated over 150 tonnes of recycled fishing nets into Galaxy devices. Now, with Ocean Mode, Samsung is redefining the role of mobile technology in climate action — expanding research capabilities, raising awareness and making the invisible visible.
To watch the full documentary and access more information about the initiative, visit the Samsung x Seatrees partnership landing page.
1 Held every three to five years, UNOC serves as a global platform uniting governments, scientists, businesses and civil society to promote ocean action and implement Sustainable Development Goal 14: Life Below Water. The 2025 conference in Nice emphasizes scaling science-based solutions to protect marine ecosystems and ensure a sustainable future for the world’s oceans.
2 Ocean Mode was exclusively developed for this project and is only available to participating partners.
Translation. Region: Russian Federal
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
On June 15, the airport celebrates its 100th anniversary.
Dear friends!
I congratulate you on the anniversary of Mineralnye Vody International Airport – the 100th anniversary of its foundation.
Over the course of a century, the airport has been developing dynamically and today is the largest in the south of Russia, has an important strategic and socio-economic significance. Thanks to air connections with the regions of the country, foreign countries, transport accessibility is improving, trade relations and business ties are strengthening, promising opportunities for business are emerging, and the tourism potential of the North Caucasus is growing. Every year, the geography of flights is expanding, new destinations are opening, and the infrastructure is being modernized.
All these achievements are the result of the coordinated and professional work of the company’s team. You ensure the safety and comfort of passengers, implement modern technologies, improve the quality and level of services provided.
I wish the employees and veterans of the Mineralnye Vody International Airport further success. Health and well-being to you and your loved ones.
M. Mishustin
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.
Source: The Conversation – Global Perspectives – By Ian Parmeter, Research Scholar, Middle East Studies, Australian National University
Israeli Prime Minister Benjamin Netanyahu has said Israel’s attack on Iran’s nuclear facilities could last for at least two weeks.
His timing seems precise for a reason. The Israel Defence Forces and the country’s intelligence agencies have clearly devised a methodical, step-by-step campaign.
Israeli forces initially focused on decapitating the Iranian military and scientific leadership and, just as importantly, destroying virtually all of Iran’s air defences.
Israeli aircraft can not only operate freely over Iranian air space now, they can refuel and deposit more special forces at key sites to enable precision bombing of targets and attacks on hidden or well-protected nuclear facilities.
In public statements since the start of the campaign, Netanyahu has highlighted two key aims: to destroy Iran’s nuclear program, and to encourage the Iranian people to overthrow the clerical regime.
With those two objectives in mind, how might the conflict end? Several broad scenarios are possible.
US President Donald Trump’s special envoy for the Middle East, Steve Witkoff, was to have attended a sixth round of talks with his Iranian counterparts on Sunday aimed at a deal to replace the Iran nuclear agreement negotiated under the Obama administration in 2015. Trump withdrew from that agreement during his first term in 2018, despite Iran’s apparent compliance to that point.
Netanyahu was opposed to the 2015 agreement and has indicated he does not believe Iran is serious about a replacement.
So, accepting negotiations as an outcome of the Israeli bombing campaign would be a massive climbdown by Netanyahu. He wants to use the defanging of Iran to reestablish his security credentials after the Hamas attacks of October 2023.
Even though Trump continues to press Iran to accept a deal, negotiations are off the table for now. Trump won’t be able to persuade Netanyahu to stop the bombing campaign to restart negotiations.
Destruction of Iran’s nuclear program would involve destroying all known sites, including the Fordow uranium enrichment facility, about 100 kilometres south of Tehran.
According to International Atomic Energy Agency (IAEA) Director General Rafael Grossi, the facility is located about half a mile underground, beneath a mountain. It is probably beyond the reach of even the US’ 2,000-pound deep penetration bombs.
The entrances and ventilation shafts of the facility could be closed by causing landslides. But that would be a temporary solution.
Taking out Fordow entirely would require an Israeli special forces attack. This is certainly possible, given Israel’s success in getting operatives into Iran to date. But questions would remain about how extensively the facility could be damaged and then how quickly it could be rebuilt.
And destruction of Iran’s nuclear centrifuges – used to enrich uranium to create a bomb – would be only one step in dismantling its program.
Israel would also have to secure or eliminate Iran’s stock of uranium already enriched to 60% purity. This is sufficient for up to ten nuclear bombs if enriched to the weapons-grade 90% purity.
But does Israeli intelligence know where that stock is?
Collapse of the Iranian regime is certainly possible, particularly given Israel’s removal of Iran’s most senior military leaders since its attacks began on Friday, including the heads of the Islamic Revolutionary Guard Corps and the Iranian armed forces.
And anti-regime demonstrations over the years, most recently the “Women, Life, Freedom” protests after the death in police custody of a young Iranian woman, Mahsa Amini, in 2022, have shown how unpopular the regime is.
That said, the regime has survived many challenges since coming to power in 1979, including war with Iraq in the 1980s and massive sanctions. It has developed remarkably efficient security systems that have enabled it to remain in place.
Another uncertainty at this stage is whether Israeli attacks on civilian targets might engender a “rally round the flag” movement among Iranians.
Netanyahu said in recent days that Israel had indications the remaining senior regime figures were packing their bags in preparation for fleeing the country. But he gave no evidence.
Could the US become involved in the fighting?
This can’t be ruled out. Iran’s UN ambassador directly accused the US of assisting Israel with its strikes.
That is almost certainly true, given the close intelligence sharing between the US and Israel. Moreover, senior Republicans, such as Senator Lindsey Graham, have called on Trump to order US forces to help Israel “finish the job”.
Trump would probably be loath to do this, particularly given his criticism of the “forever wars” of previous US administrations. But if Iran or pro-Iranian forces were to strike a US base or military asset in the region, pressure would mount on Trump to retaliate.
Another factor is that Trump probably wants the war to end as quickly as possible. His administration will be aware the longer a conflict drags on, the more likely unforeseen factors will arise.
Could Russia become involved on Iran’s side? At this stage that’s probably unlikely. Russia did not intervene in Syria late last year to try to protect the collapsing Assad regime. And Russia has plenty on its plate with the war in Ukraine.
Russia criticised the Israeli attack when it started, but appears not to have taken any action to help Iran defend itself.
And could regional powers such as Saudi Arabia or the United Arab Emirates become involved?
Though they have a substantial arsenal of US military equipment, the two countries have no interest in becoming caught up in the conflict. The Gulf Arab monarchies have engaged in a rapprochement with Iran in recent years after decades of outright hostility. Nobody would want to put this at risk.
We don’t know the extent of Iran’s arsenal of missiles and rockets. In its initial retaliation to Israel’s strikes, Iran has been able to partially overwhelm Israel’s Iron Dome air defence system, causing civilian casualties.
If it can continue to do this, causing more civilian casualties, Israelis already unhappy with Netanyahu over the Gaza war might start to question his wisdom in starting another conflict.
But we are nowhere near that point. Though it’s too early for reliable opinion polling, most Israelis almost certainly applaud Netanyahu’s action so far to cripple Iran’s nuclear program. In addition, Netanyahu has threatened to make Tehran “burn” if Iran deliberately targets Israeli civilians.
We can be confident that Iran does not have any surprises in store. Israel has severely weakened its proxies, Hezbollah and Hamas. They are clearly in no position to assist Iran through diversionary attacks.
The big question will be what comes after the war. Iran will almost certainly withdraw from the Nuclear Non-Proliferation Treaty and forbid more inspections by the International Atomic Energy Agency.
Israel will probably be able to destroy Iran’s existing nuclear facilities, but it’s only a question of when – not if – Iran will reconstitute them.
This means the likelihood of Iran trying to secure a nuclear bomb in order to deter future Israeli attacks will be much higher. And the region will remain in a precarious place.
Ian Parmeter 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. Netanyahu has two war aims: destroying Iran’s nuclear program and regime change. Are either achievable? – https://theconversation.com/netanyahu-has-two-war-aims-destroying-irans-nuclear-program-and-regime-change-are-either-achievable-259014
Source: European Investment Bank
The European Investment Bank’s development arm (EIB Global) and Egypt have signed an agreement for the use of a €21 million grant to help green the Egyptian economy. The grant, funded by the European Union and managed by EIB Global, is intended to accelerate efforts by the Egyptian private and public sectors to decarbonise and promote environmental sustainability.
Source: People’s Republic of China – State Council News
CHANGSHA, June 15 — The fourth China-Africa Economic and Trade Expo concluded on Sunday, with bumper deals signed as China and Africa seek to deepen economic cooperation.
A total of 176 projects worth 11.39 billion U.S. dollars were signed at the expo, the organizing committee announced. The two figures were up 45.8 percent and 10.6 percent from the last session in 2023.
By noon on Sunday, more than 200,000 people had visited the expo’s main venue in Changsha, the capital of central China’s Hunan Province, doubling the turnout from the last session. Finalized or tentative deals made at the main site were estimated to total 2.5 billion yuan (about 348 million U.S. dollars).
Tentative deals worth 200 million yuan were signed at a parallel expo on heavy machinery held in the neighboring city of Xiangtan.
For the first time, the expo included dedicated exhibitions on renowned China-Africa cooperation brands, quality African goods, and China-Africa fashion industries.
Nearly 2,100 companies, including 764 from 43 African countries, attended the exhibitions. Chinese and international purchasers totaled 12,000 in number.
During the four-day expo, more than 200 types of African agricultural products were sold online and in supermarkets. Fourteen African countries hosted dedicated economic and trade promotion activities.
The event was co-hosted by the Hunan provincial government and China’s Ministry of Commerce, drawing over 4,700 Chinese and African companies, as well as 30,000 participants, to take part in exhibitions and meetings.
China had been Africa’s largest trading partner for 16 consecutive years by 2024, and the growth of bilateral trade has continued to accelerate in 2025.
Source: Hong Kong Government special administrative region
InvestHK promotes Hong Kong’s biotech edge at BIO International Convention 2025
A delegation of 16 Hong Kong life science and health technology companies will be joining InvestHK and the Hong Kong Science and Technology Parks Corporation (HKSTP) to the BIO International Convention 2025, the world’s premier biotechnology event, running June 16 to 19 (Boston time) at the Boston Convention & Exhibition Center. This joint effort underscores the strong partnership between InvestHK and the HKSTP to promote Hong Kong’s vibrant biotech ecosystem on a global stage.
At the Hong Kong pavilion, the delegation will showcase the city’s unrivalled advantages and opportunities for American biotech companies seeking to expand into the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Asia Pacific. InvestHK will connect with global industry pioneers, sharing insights and forging partnerships to spotlight Hong Kong’s strategic strengths as a biotech powerhouse. Through dynamic presentations, one-on-one discussions, and interactive showcases, InvestHK will highlight the city’s cutting-edge ecosystem, which is tailored to empower American biotech firms to thrive in Asia’s fast-growing markets.
Associate Director-General of Investment Promotion at InvestHK Mr Charles Ng said, “Amid a climate of global economic uncertainty and unprecedented challenges, businesses are increasingly focused on resilience, diversification, and innovation. Hong Kong, as a global biotech hub and one of the world’s leading fundraising hubs for life science and biotech, offers unique advantages for American biotechnology companies. These include a top-tier academic research and talent pool, world-class research and development infrastructure, financial strength, robust intellectual property protection, high-quality clinical trial data and strong government commitment. All these make Hong Kong an ideal location for establishing a regional headquarters to expand into the GBA and Asia-Pacific region.”
The Chief Executive Officer of the HKSTP, Mr Albert Wong, said, “The United States is the world’s largest healthcare market. For technology companies to succeed in the US market, it is essential to understand how the local healthcare system operates and effectively communicates the unique value of their R&D capabilities to investors. The goal of this visit goes beyond seeking immediate investment – it is also about building long-term bridges between innovation ecosystems; offering a globally connected environment to exchange ideas, collaborate and scale. I expect the delegation will begin to see tangible results within the next 12 to 18 months.”
Hong Kong’s biotech sector is driven by innovations such as smart hospitals and telehealth, addressing rising healthcare demands with sustainable solutions. The Hong Kong Special Administrative Region Government is enhancing the city’s capabilities through the establishment of the InnoLife Healthtech Hub in the Hong Kong-Shenzhen Innovation and Technology Park. The 2024 Policy Address also introduced a HK$10 billion I&T Industry-Oriented Fund to channel investment into strategic industries, including life and health technology.
The GBA presents significant opportunities for American biotech firms. Designated GBA healthcare institutions can utilise Hong Kong-registered drugs and medical devices approved for public hospitals, with 51 drugs and 63 medical devices having been allowed by the Guangdong Provincial Medical Products Administration as of April 30, 2025. Additionally, the Listing Rules reform by the Hong Kong Exchanges and Clearing Limited has positioned it as a leading exchange for biotech initial public offerings, enabling pre-revenue biotech companies to list on the main board and access robust capital markets.
InvestHK has seen strong momentum in attracting innovation and technology (I&T) companies to establish or expand their presence in the city. In 2024, the number of I&T companies assisted by InvestHK rose to 120, up from 82 in 2023, making it the top-performing sector among all sectors supported by the department. This growth reflects both the increasing global confidence in Hong Kong’s innovation ecosystem and the city’s strategic role as a springboard for I&T businesses looking to access Mainland China and Asia-Pacific markets.
The BIO International Convention 2025 unites over 20 000 global industry leaders, representing virtually the entire biotechnology ecosystem. In an era of transformative discovery, biotechnology is revolutionising healthcare, agriculture, and environmental sustainability, offering hope and solutions to global challenges.
Issued at HKT 10:00
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Source: Hong Kong Government special administrative region – 3
Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng today (June 14) concluded his visit to Canada, deepening economic and business ties with Canadian investors and enterprises.
During his visit June 8 to 14 to Waterloo, Toronto, and Montreal, Mr Ng met with investors, family offices, start-ups, academia, and business leaders, emphasising Hong Kong’s role as a global financial hub and gateway to Mainland China and international markets. He hosted roundtables highlighting Hong Kong’s strengths in wealth management and cross-border investments and discussed how Canadian enterprises can leverage Hong Kong for global expansion. He toured innovation labs and facilities at universities and discussed Asian expansion plans with Canadian founders. The meetings connected researchers and ecosystem builders across life sciences, medtech, cleantech, AI, and more.
Mr Ng also highlighted the upcoming Hong Kong FinTech Week x StartmeupHK Festival 2025, inviting Canadian investors and entrepreneurs to visit Hong Kong from November 3 to 7 and explore Asia’s dynamic markets. The event offers unparalleled access to industry leaders, cutting-edge fintech trends, and high-growth opportunities for positioning companies at the forefront of innovation.
Mr Ng said, “The visit was highly fruitful, underscoring the strong economic relationship and vibrant investment exchanges between Hong Kong and Canada. It highlighted Hong Kong’s distinctive role as a ‘super connector’ linking global markets, offering Canadian businesses valuable pathways for expansion into Asia. This engagement not only reinforced ties between the two markets but also unlocked exciting collaborative opportunities.”
Participants at the events expressed keen interest in Hong Kong’s business environment and connectivity. Investor Relations Officer, Velocity Incubator, University of Waterloo, Mr Andrew Martinko, said, “We learned from Invest Hong Kong about their strong commitment to driving tech innovation through action. They presented a dynamic and expanding start-up ecosystem, clearly focused on welcoming talented Canadian founders and connecting them with high-potential Asian markets and diverse funding opportunities, all within close geographic reach.”
Co-founder and Chief Executive Officer of XSIM AI Canada Inc, Ms Shan Tao, said “Participating in the StartmeUpHK Festival was a pivotal moment for XSIM AI Canada Inc. The support and insights from InvestHK and the Hong Kong-Canada Business Association helped us uncover the unique opportunities within Hong Kong’s ecosystem. It ultimately led to a conditional offer from the Hong Kong Science and Technology Parks Corporation’s Soft Landing Programme, and the establishment of our business there. Hong Kong is where our vision for practical, scalable, purpose-driven industrial AI found both strategic alignment and real momentum – advancing economic value and environmental impact.”
Partner at DS Avocats and Honorary Secretary of the Federation of Hong Kong Business Associations Worldwide, Ms Cindy Ho, facilitated high-level connections during the trip and shared her insights. She said, “Canada and Hong Kong share a robust and time-tested business relationship, driving trade, investment, and innovation. With Hong Kong serving as a vital hub for Canadian businesses expanding into Asia, and Canadian expertise fuelling innovation in Hong Kong, this dynamic exchange is unlocking new opportunities and reinforcing bilateral trade and investment in the global economy. As a legal professional working closely with international businesses, I have seen firsthand how Canada and Hong Kong businesses can benefit namely through the Hong Kong-Canada Income Tax Agreement. Together, we are building a future of shared prosperity and ambition, backed by strong trade and investment agreements and a long-term commitment to sustainable growth.”
Source: Peace Action Wellington
14 June 2025 – Israel’s unprovoked and extensive bombing of Iran yesterday is illegal under international law. There is no allowable claim of self-defence for a pre-emptive attack; such a claim would validate Russia’s aggression in Ukraine, and the US’s attack on Iraq in 2003.
“The New Zealand Government needs to be unequivocal in its condemnation of Israel now,” said Valerie Morse, member of Peace Action Wellington.
“The bombing of Iran has no justification. The Israeli state appears to consider itself beyond reproach in its conduct: in the past six months, it has bombed Lebanon, Syria, Yemen and Iran all while it conducts the most vile genocide against Palestinians in Gaza and daily attacks against civilians in the occupied West Bank.”
“No one believes Israel’s lies anymore. Time after time, Israel’s claims have been shown to be completely fabricated. We didn’t buy US President George W. Bush’s claims about Iraq having ‘weapons of mass destruction’ in 2003 that precipitated the US invasion and murder of 1 million Iraqi people; and we are not about to buy Netanyahu’s claims about an ‘existential threat’ now. ”
“No one is buying Israel’s false victimhood either: it possesses nuclear weapons and continues to be the largest recipient of US aid and weapons. Netanyahu has spent all of Israel’s political capital with his craven determination to remain in power. The international consensus that has funded and facilitated the ongoing occupation of Palestinian lands is crumbling. Now he is trying to drag the entire world into war. He will be the last Israeli prime minister because he will destroy the Israeli state with his self-serving violence and war-making.”
“Aggressive war cannot be tolerated. Genocide cannot be tolerated. New Zealanders want our government to take concrete actions: expel the Israeli Ambassador, sanction the Israeli state and recognise Palestine.”
Source: Amnesty International –
Manchester-based Ahmed was sentenced to ten years in prison last month on May 10, 2025. His family and UK legal team understand that he was tried and convicted under terrorism legislation for social media posts and for associating with an individual critical of the Saudi government.
However, the trial has been marred by a lack of transparency regarding the exact charges and evidence, even to the UK government. Information indicates that he is being tried for exercising his right to free expression and has faced multiple violations of his fair trial rights.
Ahmed, a senior business analyst with Bank of America, was arrested while on a family holiday in August 2024. His domestic lawyer in Saudi Arabia has refused to share details of the charges and evidence nor provided a copy of the judgment and sentence to Ahmed’s family or UK legal team. At the time of arrest, his wife, Amaher, was in the late stages of pregnancy, meaning Ahmed missed the birth of his fourth child.
Ahmed has faced numerous violations of his fair trial rights following his arrest. He has been subjected to extensive interrogation without legal representation, where he was forced to sign a statement before being informed of the charges against him. For over two and a half months after he was first detained, his family had no contact with him and received no information about his condition or the reasons for his detention. He was also denied consular access. Since then, contact with his family and UK-based legal team has been severely restricted, and he has been threatened with losing access to communication with them if he tries to disclose anything regarding his trial, proceedings, treatment, or health.
Haydee Dijkstal, Barrister at 33 Bedford Row Chambers and counsel for Ahmed Al-Doush, stated: “The UK government must demand answers and clarity on a process that has been marked by a lack of transparency, even to the UK government regarding its own citizen. It should take a strong stand against a British national’s imprisonment for ten years for allegedly exercising his right to free expression. This is essential to fully protect a British national’s rights, as well as the rights of his wife and four British children living in the UK who have been thrown into an unexpected and incomprehensible nightmare.”
Amaher Al-Doush, wife of Ahmed, expressed her feelings: “Frankly, I have no faith in the Saudi government to deliver justice in the appeal. I’m completely disillusioned with both the Saudi and UK governments on every level. The children have been making Father’s Day cards at school, at a time when other families are celebrating it’s incredibly painful for them, especially as we prepare to mark Eid without their father once again. They’re really struggling.
“I’m exhausted too. The pressure is relentless, not just emotionally, but physically and mentally. Honestly, I’m so overwhelmed that I struggle to even speak about it anymore. At the heart of it all, what matters most is that my husband, the father of my children, is still not home. None of the efforts so far have brought him back.”
Eilidh Macpherson, Campaigns Manager for Individuals at Risk at Amnesty International UK, said: “We reiterate our urgent call on the Saudi authorities to immediately and unconditionally release Ahmed Al-Doush if he is being held solely for peacefully exercising his human rights. He must be allowed to return to his family in the UK without delay. In the meantime, Saudi authorities must uphold his fair trial rights, promptly share his court documents, and guarantee regular access to both his family and legal counsel.
“We also urge the UK government to take all necessary steps to secure his immediate and unconditional release. The arbitrary detention of another British national abroad cannot be tolerated. Immediate and decisive action is essential.”
Amnesty media contacts:
Out of hours: media@amnesty.org.uk / 07721 398984
Source: GlobeNewswire (MIL-OSI)
TORONTO, June 15, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced active trading in its physically-deliverable Gold Singapore Futures following the product’s official launch on June 12, 2025.
As the only physically-deliverable, U.S. dollar-denominated gold futures contract based in Asia’s primary trading center of Singapore, this product provides a regionally relevant tool for price discovery, hedging, and delivery, and offers global access to a contract designed for today’s trade flows.
The Abaxx Gold Singapore Futures contract is a USD-denominated, kilobar-sized product aligned with the format preferred by the regional physical bullion trade. Deliverable into approved vaults in Singapore, the contract is purpose-built to serve refiners, industrial consumers, banks, and physical traders seeking to hedge kilobar transactions in Asia’s key delivery hub.
The launch comes at a time when gold prices are reaching record highs and demand for regional price transparency is growing.
Abaxx Gold Singapore Futures saw active trading during their first two trading sessions. Eight market makers participated, including firms from Singapore, Hong Kong, London and Thailand, with more market makers and commercial firms expected to connect in the coming weeks.
“KGI Securities Singapore is delighted to be cleared for trading on the Abaxx Gold Singapore Futures contract,” said Ken Ong, CEO of KGI Securities Singapore. “This new offering directly addresses the growing demand for regional price transparency and a physically-deliverable gold product tailored for the Asian market. We are excited to facilitate access for our clients to this critical new instrument and to further strengthen our commitment to providing comprehensive solutions in the commodities market.”
“We congratulate Abaxx on the launch of their Gold Futures contract,” said Golf Hirunyasiri, CEO, MTS Gold Group. “MTS Gold is pleased to be the first physical market participant committed to supporting delivery under Abaxx’s Gold Futures contract. We are excited about the synergy and participation and wish Abaxx continued success.”
The Abaxx Gold Singapore Futures contract is available for trading 14 hours per day, Monday through Friday. For full contract specifications and onboarding information, visit abaxx.exchange/resources-clearing-members-brokers.
About Abaxx Technologies
Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.
In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.
Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.
Abaxx Spot modernizes physical gold trading through a physically-backed gold pool in Singapore. As the first instance of a co-located spot and futures market for gold, Abaxx Spot enables secure electronic transactions, efficient OTC transfers, and is designed to support physical delivery for Abaxx Exchange’s physically-deliverable gold futures contract, providing integrated infrastructure to deliver smarter gold markets.
For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | smartermarkets.media
For more information about this press release, please contact:
Steve Fray, CFO
Tel: +1 647-490-1590
Media and investor inquiries:
Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 246 271 0082
E-mail: ir@abaxx.tech
Cautionary Statement Regarding Forward-Looking Information
This press release includes certain “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “believe”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”, “should”, “would”, “could”, “target”, “purpose”, “goal”, “objective”, “ongoing”, “potential”, “likely” or the negative thereof or similar expressions.
In particular, this press release contains forward-looking statements including, without limitation, statements regarding the potential benefits and impact of the Gold Kilobar Futures contract and Abaxx Spot platform, the Company’s business strategies, plans, and objectives, the development of new markets and products, expectations regarding Abaxx’s partnerships, demand for Abaxx’s products and market adoption and regulatory approvals. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third- party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.
Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.
16 June 2025 – Some parts of the economy and prices for some products are more sensitive to a rise in the Official Cash Rate (OCR) than others.
Reserve Bank of New Zealand – Te Pūtea Matua research found that sectors that make or trade goods, as well as housing and real estate related sectors are among the most sensitive to changes in the Official Cash Rate.
“When the OCR increases, these sectors tend to cool more quickly. On the other hand, sectors like primary production including dairy and meat, are less sensitive,” the Analytical Note authors say.
The research also looked at how monetary policy affects prices across a wide range of domestic goods and services, which do not face as much foreign competition as internationally traded goods.
“We found that prices for accommodation are quite sensitive. So, when the OCR increases, it puts downward pressure on the cost of going on holiday or business,” the authors say.
An OCR increase also has a strong impact on the cost of building a home. This means when the OCR increases, there is relatively more downward pressure on these costs than for prices of other domestic goods and services in the economy. Some services, like household power prices and insurance, are slower to respond to increases in the OCR.
We carried out this research because identifying which parts of the economy are relatively more sensitive to monetary policy allows us to better understand how various parts of the economy may react when interest rates change. It also means we can see more clearly if past policy decisions are working through to the economy as expected.
More information:
Read the Analytical Note
A research paper by Magnus Astebol and Nimesh Patel: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=30c1814904&e=f3c68946f8
Watch a short video: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=f4070f8fec&e=f3c68946f8
Other Analytical Notes: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=8a021ec357&e=f3c68946f8
Key findings:
We investigate the sensitivity of output and prices to monetary policy at a disaggregated level, focusing on GDP sectors and CPI non-tradables subgroups in New Zealand. Identifying which parts of the economy are relatively more responsive to monetary policy allows us to better understand how various parts of the economy may evolve in response to policy decisions and to better assess whether past policy decisions are transmitting to the economy as expected.
For GDP, we find that goods-producing and goods-trading sectors are the most sensitive to monetary policy, while primary production and public services are the least sensitive.
For CPI non-tradables inflation, we find subgroups such as housing construction costs and accommodation services are more sensitive to monetary policy, while subgroups such as energy and insurance are less sensitive.
The small sample size leads to greater variation in estimated effects across model variations. As such, this analysis aims to serve as a starting point for further work in this area.
Source: GlobeNewswire (MIL-OSI)
The board of directors of IDEX Biometrics ASA has resolved to issue 299,381,600 new shares at NOK 0.01 per share to employees, contractors and directors in the IDEX group (“Personnel Placement”). The purpose of the Personnel Placement is to incentivise the personnel in the implementation of the amended business plan and commercialisation of the company’s products.
The Personnel Placement is according to the resolution by the extraordinary general meeting of IDEX Biometrics ASA held on 11 April 2025, where the board was authorised to issue shares on terms equivalent to the terms in the debt conversion that was approved at the same meeting.
The shares are restricted for 18 months from the date of issuance and may not be sold or otherwise transferred during the restriction period. 1/3 of the shares are released from the restriction after 6 months and another 1/3 are released after 12 months. In the event a holder resigns or is terminated from employment or service, the company has the right to repurchase the holder’s restricted shares at certain terms.
The Board has considered the issue to the Personnel in light of the equal treatment obligations under the PLCA, the Norwegian Securities Trading Act, the rules on equal treatment under Oslo Rule Book II for companies listed on the Oslo Stock Exchange and the Oslo Stock Exchange’s Guidelines on the rule of equal treatment and deems that the proposed Personnel Placement is in compliance with these requirements. The Board holds the view that it will be in the common interest of the Company and its shareholders to incentivize the Company’s Personnel by issuance of the Offer Shares, both in the short term and in the long term. The number of Offer Shares represents approximately 6,7 % of the total number of outstanding shares in the Company, and the dilutive effect for the Company’s shareholders is limited. The subscription price for the Offer Shares, which was presented to the EGM as the intended issue price, is NOK 0.01, and the subscription price, before taking into account the lock up, consequently represents a 78 % discount to the closing price of the Company’s shares on Oslo Børs on 13 June 2025. Taking into account the lock up period and the volatility of the shares, the discount will vary from no discount at all to approx. 25 %. While the discount can be deemed significant, the Company is of the view that the number of Offer Shares issued, the fact that the issuance is made to the Personnel only, the EGM has specifically approved the framework for this equity issue, the Offer Shares will be subject to sales restrictions by way of a reverse vesting schedule with trading and transfer restrictions over 18 months, including with an option for the Company to repurchase the Offer Shares upon termination or resignation prior to the end of the 18-month period, collectively ensure that the Company is in compliance with its equal treatment obligations.
Following registration of the share capital increase, the company’s share capital will be NOK 47,310,125.99, divided into 4,731,012,599 shares each with a nominal value of NOK 0.01.
Contact person
Kristian Flaten, CFO, Tel.: +47 950 92322
E-mail: ir@idexbiometrics.com
About IDEX Biometrics
IDEX Biometrics ASA (IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
About this notice
This notice was issued by Erling Svela, VP of finance, on 10 June 2025 at 23:50 CET on behalf of IDEX Biometrics ASA. The shall be disclosed according to section 5-8 of the Norwegian Securities Trading Act (STA) and published in accordance with section 5-12 of the STA.
Source: The Conversation (Au and NZ) – By Colette Southam, Associate Professor of Finance, Bond University
The federal government wants to boost Australia’s productivity levels – as a matter of national priority. It’s impossible to have that conversation without also talking about innovation.
We can be proud of (and perhaps a little surprised by) some of the Australian innovations that have changed the world – such as the refrigerator, the electric drill, and more recently, the CPAP machine and the technology underpinning Google Maps.
Australia is continuing to drive advancements in machine learning, cybersecurity and green technologies. Innovation isn’t confined to the headquarters of big tech companies and university laboratories.
Small and medium enterprises – those with fewer than 200 employees – are a powerhouse of economic growth in Australia. Collectively, they contribute 56% of Australia’s gross domestic product (GDP) and employ 67% of the workforce.
Our own Reserve Bank has recognised they also have a huge role to play in driving innovation. However, they still face many barriers to accessing funding and investment, which can hamper their ability to do so.
We all know the saying “it takes money to make money”. Those starting or scaling a business have to invest in the present to generate cash in the future. This could involve buying equipment, renting space, or even investing in needed skills and knowledge.
A small, brand new startup might initially rely on debt (such as personal loans or credit cards) and investments from family and friends (sometimes called “love money”).
Having exhausted these sources, it may still need more funds to grow. Bank loans for businesses are common, quick and easy. But these require regular interest payments, which could slow growth.
Alternatively, a business may want to look for investors to take out ownership stakes.
This investment can take the form of “private equity”, where ownership stakes are sold through private arrangement to investors. These can range from individual “angel investors” through to huge venture capital and private equity firms managing billions in investments.
It can also take the form of “public equity”, where shares are offered and are then able to be bought and sold by anyone on a public stock exchange such as the Australian Securities Exchange (ASX).
Unfortunately, small and medium-sized companies face hurdles to accessing both kinds.
Research examining the gap in small-scale private equity has found 46% of small and medium-sized firms in Australia would welcome an equity investment – despite saying they were able to acquire debt elsewhere.
They preferred private equity because they also wanted to learn from experienced investors who could help them grow their companies. However, very few small and medium-sized enterprises were able to meet private equity’s investment criteria.
When interviewed, many chief executives and chairs of small private equity firms said their lack of interest in small and medium-sized enterprises came down to cost and difficulty of verifying information about the health and prospects of a business.
To make it easier for investors to compare investments, all public companies are required to disclose their financial information using International Financial Reporting Standards.
In contrast, small private companies can use a simplified set of rules and do not have to share their statements of profit and loss with the general public.
Is it possible to list on a stock exchange instead? An initial public offering (IPO) would enable the company to raise funds by selling shares to the public.
Unfortunately, the process of issuing shares on a stock exchange is time-consuming and costly. It requires a team of advisors (accountants, lawyers, and bankers) and filing fees are high.
There are also ongoing costs and obligations associated with being a publicly traded company, including detailed financial reporting.
Last week, the regulator, the Australian Securities and Investments Commission (ASIC), announced new measures to encourage more listings by streamlining the IPO process.
Despite this, many small companies do not meet the listing requirements for the ASX.
These include meeting a profits and assets test and having at least 300 investors (not including family) each with A$2,000.
There is one less well-known alternative – the smaller National Stock Exchange of Australia (NSX), which focuses on early-stage companies. Ideally, this should have been a great alternative for small companies, but it has had limited success. The NSX is now set to be acquired by a Canadian market operator.
Our previous research has highlighted that small and medium-sized businesses should try to make themselves more attractive to private equity companies. This could include improving their financial reporting and using a reputable major auditor.
At their end, private equity companies should cast a wider net and invest a little more time in screening and selecting high-quality smaller companies. That could pay off – if it means they avoid missing out on “the next Google Maps”.
There are other opportunities we could explore. Australia’s pool of superannuation funds, for example, have begun growing so large they are running out of places to invest.
That’s led to some radical proposals. Ben Thompson, chief executive of Employment Hero, last year proposed big superannuation funds be forced to invest 1% of their cash into start-ups.
Less extreme, regulators could reassess disclosure guidelines for financial providers which may lead funds to prefer more established investments with proven track records.
There is an ongoing debate about whether the Australian Prudential Regulation Authority (APRA), which regulates banks and superannuation, is too cautious. Some believe APRA’s focus on risk management hurts innovation and may result in super funds avoiding startups (which generally have a higher likelihood of failure).
In response, APRA has pointed out the global financial crisis reminded us to be cautious, to ensure financial stability and protect consumers.
This article is part of The Conversation’s series, The Productivity Puzzle.
The author would like to acknowledge her former doctoral student, the late Dr Bruce Dwyer, who made significant contributions to research discussed in this article. Bruce passed away in a tragic accident earlier this year.
Colette Southam 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. Small businesses are an innovation powerhouse. For many, it’s still too hard to raise the funds they need – https://theconversation.com/small-businesses-are-an-innovation-powerhouse-for-many-its-still-too-hard-to-raise-the-funds-they-need-256333
Source: The Conversation (Au and NZ) – By Colette Southam, Associate Professor of Finance, Bond University
The federal government wants to boost Australia’s productivity levels – as a matter of national priority. It’s impossible to have that conversation without also talking about innovation.
We can be proud of (and perhaps a little surprised by) some of the Australian innovations that have changed the world – such as the refrigerator, the electric drill, and more recently, the CPAP machine and the technology underpinning Google Maps.
Australia is continuing to drive advancements in machine learning, cybersecurity and green technologies. Innovation isn’t confined to the headquarters of big tech companies and university laboratories.
Small and medium enterprises – those with fewer than 200 employees – are a powerhouse of economic growth in Australia. Collectively, they contribute 56% of Australia’s gross domestic product (GDP) and employ 67% of the workforce.
Our own Reserve Bank has recognised they also have a huge role to play in driving innovation. However, they still face many barriers to accessing funding and investment, which can hamper their ability to do so.
We all know the saying “it takes money to make money”. Those starting or scaling a business have to invest in the present to generate cash in the future. This could involve buying equipment, renting space, or even investing in needed skills and knowledge.
A small, brand new startup might initially rely on debt (such as personal loans or credit cards) and investments from family and friends (sometimes called “love money”).
Having exhausted these sources, it may still need more funds to grow. Bank loans for businesses are common, quick and easy. But these require regular interest payments, which could slow growth.
Alternatively, a business may want to look for investors to take out ownership stakes.
This investment can take the form of “private equity”, where ownership stakes are sold through private arrangement to investors. These can range from individual “angel investors” through to huge venture capital and private equity firms managing billions in investments.
It can also take the form of “public equity”, where shares are offered and are then able to be bought and sold by anyone on a public stock exchange such as the Australian Securities Exchange (ASX).
Unfortunately, small and medium-sized companies face hurdles to accessing both kinds.
Research examining the gap in small-scale private equity has found 46% of small and medium-sized firms in Australia would welcome an equity investment – despite saying they were able to acquire debt elsewhere.
They preferred private equity because they also wanted to learn from experienced investors who could help them grow their companies. However, very few small and medium-sized enterprises were able to meet private equity’s investment criteria.
When interviewed, many chief executives and chairs of small private equity firms said their lack of interest in small and medium-sized enterprises came down to cost and difficulty of verifying information about the health and prospects of a business.
To make it easier for investors to compare investments, all public companies are required to disclose their financial information using International Financial Reporting Standards.
In contrast, small private companies can use a simplified set of rules and do not have to share their statements of profit and loss with the general public.
Is it possible to list on a stock exchange instead? An initial public offering (IPO) would enable the company to raise funds by selling shares to the public.
Unfortunately, the process of issuing shares on a stock exchange is time-consuming and costly. It requires a team of advisors (accountants, lawyers, and bankers) and filing fees are high.
There are also ongoing costs and obligations associated with being a publicly traded company, including detailed financial reporting.
Last week, the regulator, the Australian Securities and Investments Commission (ASIC), announced new measures to encourage more listings by streamlining the IPO process.
Despite this, many small companies do not meet the listing requirements for the ASX.
These include meeting a profits and assets test and having at least 300 investors (not including family) each with A$2,000.
There is one less well-known alternative – the smaller National Stock Exchange of Australia (NSX), which focuses on early-stage companies. Ideally, this should have been a great alternative for small companies, but it has had limited success. The NSX is now set to be acquired by a Canadian market operator.
Our previous research has highlighted that small and medium-sized businesses should try to make themselves more attractive to private equity companies. This could include improving their financial reporting and using a reputable major auditor.
At their end, private equity companies should cast a wider net and invest a little more time in screening and selecting high-quality smaller companies. That could pay off – if it means they avoid missing out on “the next Google Maps”.
There are other opportunities we could explore. Australia’s pool of superannuation funds, for example, have begun growing so large they are running out of places to invest.
That’s led to some radical proposals. Ben Thompson, chief executive of Employment Hero, last year proposed big superannuation funds be forced to invest 1% of their cash into start-ups.
Less extreme, regulators could reassess disclosure guidelines for financial providers which may lead funds to prefer more established investments with proven track records.
There is an ongoing debate about whether the Australian Prudential Regulation Authority (APRA), which regulates banks and superannuation, is too cautious. Some believe APRA’s focus on risk management hurts innovation and may result in super funds avoiding startups (which generally have a higher likelihood of failure).
In response, APRA has pointed out the global financial crisis reminded us to be cautious, to ensure financial stability and protect consumers.
This article is part of The Conversation’s series, The Productivity Puzzle.
The author would like to acknowledge her former doctoral student, the late Dr Bruce Dwyer, who made significant contributions to research discussed in this article. Bruce passed away in a tragic accident earlier this year.
Colette Southam 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. Small businesses are an innovation powerhouse. For many, it’s still too hard to raise the funds they need – https://theconversation.com/small-businesses-are-an-innovation-powerhouse-for-many-its-still-too-hard-to-raise-the-funds-they-need-256333
