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Category: Commerce

  • MIL-OSI Banking: From Jaipur to Nagpur, Samsung Solve for Tomorrow Ignites a Nation of Problem-Solvers

    Source: Samsung

    Your classroom could be the next stop in this journey of Samsung Solve for Tomorrow
     
    From the sunlit classrooms of Jaipur to the buzzing lecture halls of Nagpur, a powerful question echoed across campuses: “What problem will you solve for India?”
     
    That question lies at the heart of Samsung Solve for Tomorrow, a national innovation challenge that is transforming students into changemakers—and campuses into launchpads for the future.
     
    After a powerful launch on April 29, the design thinking workshops and college Open Houses swept across India—reaching not just major metros but also the vibrant heartlands of the Northeast.
     
    Samsung Solve for Tomorrow 2025 will provide INR 1 crore to the top four winning teams to support the incubation of their projects, along with hands-on prototyping, investor connects, and expert mentorship from Samsung leaders and IIT Delhi faculty.
     
    At Neerja Modi School in Jaipur, over 1,000 students filled the auditorium with their ideas, ambitions, and dreams. Among them, Naman Lakhani found himself thinking beyond textbooks:
     
    “I’ve always wanted to build something that could solve real-world issues. Samsung Solve for Tomorrow showed me that someone out there actually wants to listen to us—and help make those ideas real.”
     
    Anshika Gupta, another student, added: “It felt like a spark. This programme is not just about innovation—it’s about inclusion. It made me feel like I could be a part of building India’s future, even while I’m still in school.”
     
    The journey continued to Maharaja Sawai Bhawani Singh School, also in Jaipur, where Ishan Sharma, part of a 850-strong student turnout, found his perspective shift:
     
    “I realised that I don’t need to wait to graduate or become an adult to solve problems. If we have ideas now, Samsung Solve for Tomorrow wants to hear them. That’s empowering.”
     
    In Nagpur, the vibrant community of Ramdeobaba University welcomed the campaign with open minds and open notebooks. Among 640 participants, Manya shared her dream of building AI-driven solutions for public health:
     
    “For once, a platform came to us—to our campus, to our city—and said, ‘Let’s build something that matters.’ It’s not just a competition. It’s a launchpad.”
     
    Even virtually, the momentum didn’t stop. Shanti Business School in Ahmedabad hosted one of the largest online Samsung Solve for Tomorrow open houses yet, with over 1,700 students tuning in. Discussions ranged from clean energy to accessibility tech.
     
     “It felt like a national classroom of creators,” one student shared in the chat. “We were miles apart, but our ideas connected.”
     
    In Bhopal, Oriental Institute of Science and Technology (OIST) brought the conversation to ground zero—how students can use tech to tackle local problems. With 290 students in attendance, the event had a quiet, determined energy.
     
    “We don’t just want to dream. We want to build,” a student said. “Samsung Solve for Tomorrow is giving us the blueprint.”
     
    As Samsung Solve for Tomorrow rolls across India, it’s making one thing clear: Innovation doesn’t belong to labs or big cities. It belongs to every student with a question and the courage to find an answer.
     
    So, if you’re a student with an idea that could solve a real problem—this is your moment. Apply now to Samsung Solve for Tomorrow. Your classroom could be the next stop in this journey. And your idea? It could change everything.

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: UK celebrates public service heroes in HM The King’s Birthday Honours List 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK celebrates public service heroes in HM The King’s Birthday Honours List 2025

    Over 1,200 recipients are recognised across the UK

    Community heroes up and down the country are celebrated in His Majesty The King’s Birthday Honours List 2025 today. 

    Over a thousand recipients have been awarded for their exceptional achievements, with a particular focus on those who have given their time to public service. 

    This year’s recipients include dedicated community champions, role models in sport, pioneers in the arts, passionate health workers, and supporters of young people.

    Prime Minister Keir Starmer said:

    This year’s Birthday Honours List is a powerful reminder of the extraordinary dedication, compassion, and service that exists in every corner of our country.

    From community champions to cultural icons, each recipient reflects the very best of Britain. I extend my heartfelt congratulations and gratitude to them all.

    Among those being honoured today is former England captain David Beckham, who receives a Knighthood for services to Sport and Charity. Beyond the pitch, Beckham has been a Goodwill Ambassador for UNICEF since 2005, and he also established the 7 Fund aimed at helping vulnerable children around the world. He supports a number of charities including the Chelsea Pensioners, Help for Heroes, Great Ormond Street Hospital, Age UK and the London Air Ambulance service.

    The oldest recipient this year is William Irwin who, at 106 years old, receives a BEM for services to the community in Coleraine, County Londonderry. William is one of three honours recipients over the last ten years aged 106. 

    At 11 years old, the youngest recipient this year is Carmela Chillery-Watson, who lives with a rare life-limiting, muscle-wasting condition. She receives an MBE for charitable fundraising, in particular for Muscular Dystrophy UK.

    For the first time, three members of the same family, Duncan Speirs, Caroline Jane Speirs and Jenna Catherine Helen Speirs, are all receiving a BEM for services to Charitable Fundraising, after setting up Calum’s Cabin, which provides holiday homes for children facing cancer.  

    Arts

    Sculptor Sir Antony Gormley is made a Member of the Order of the Companions of Honour for his services to Art, and Emma Bridgewater is made a Dame for her for services to Ceramics. Oliver Sykes is awarded an MBE for services to Access to the Arts for Underprivileged Young People. 

    Sports

    Billy Boston becomes the first Rugby League Player to ever receive a Knighthood, and Sarah Virginia Wade receives a CBE for services to Tennis and Charity. Footballer Rachel Daly has been awarded an MBE for services to Association Football, and darts player Luke Littler has been awarded an MBE for services to Darts, currently the World no.2 at the age of 18.

    Philanthropy and Charity

    Roger Daltrey, a patron to the Teenage Cancer Trust has been awarded a Knighthood for his services to Charity. Sunita Arora, founder of the Arora Charitable Foundation receives an OBE for services to the Charitable Sector and to Philanthropy, and Albino Okello has been awarded an MBE for his services to the Red Cross for his work with the Family Tracing Service as a National Caseworker.

    Business

    Clare Barclay, the CEO of Microsoft UK, has been made a Dame for her services to Business, Technology and Leadership,alongside. Also receiving Damehoods are Professor Ursula Martin, an Emeritus Professor in the Mathematical Institute, University of Oxford,  Deborah Crosbie, CEO of Nationwide Building Society and Anne Glover, CEO and co-founder of Amadeus Capital Partners for her work in Engineering and Science 

    Entertainment

    Gary Oldman receives a Knighthood for Services to Drama, while Claudia Winkleman and Tess Daly both receive MBEs for services to Broadcasting.

    Chancellor of the Duchy of Lancaster, Pat McFadden, said:

    I send my congratulations to all of the recipients of this year’s Birthday Honours List, and thank them for their contributions to their communities and the country.

    If you know someone who has done something incredible, nominate them for an honour so the nation can recognise their achievements.

    Anyone can nominate someone for an honour. If you know someone who has achieved fantastic things worthy of recognition, go to https://www.gov.uk/honours to find out more about how you can put them forward.

    Updates to this page

    Published 16 June 2025

    MIL OSI United Kingdom –

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

    Source: European Banking Authority

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

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

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

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

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

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

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

    Legal basis and background

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

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

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

    Next steps

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

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

    MIL OSI Europe News –

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


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

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

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

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

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

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

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

    MIL OSI Africa –

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

    Source: University of Aberdeen

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

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

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

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

    MIL OSI United Kingdom –

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

    Source: International Monetary Fund

    Summary

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

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

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

    MIL OSI Economics –

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

    Source: Government of India

    Source: Government of India (4)

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

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

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

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

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

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

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

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

    IANS

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

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    2/2025: Confirmation of decapitalisation rates

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

    Applies to England

    Documents

    Business Rates Information Letter (3/2025): Confirmation of decapitalisation rates

    HTML

    Details

    This letter confirms the decapitalisation rates for the 2026 revaluation.

    Updates to this page

    Published 16 June 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI: AIXA Miner Launches AI-Powered Cloud Mining Services After Securing FinCEN MSB License

    Source: GlobeNewswire (MIL-OSI)

    Image by AIXA Miner

    NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) — AIXA MINER CLOUD MINING INVESTMENT LTD (“AIXA Miner”), a U.S.-based cryptocurrency mining platform, has launched the next phase of its AI-powered cloud mining services for Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE) following its recent registration as a Money Services Business (MSB) under the U.S. Financial Crimes Enforcement Network (FinCEN).

    With this approval, AIXA Miner complies with national anti-money laundering (AML) standards and international financial regulatory frameworks. The designation strengthens the platform’s position as a legally recognized participant in the digital asset economy.

    Founded in 2020 and headquartered in the United States, AIXA Miner operates over 100 data centers across North America, Europe, and Asia. These facilities are powered entirely by renewable energy sources, including wind and solar, supporting the platform’s long-term environmental commitments.

    The cloud mining service allows users to allocate computing power through short-term contract packages. Mining operations are executed on high-performance GPU and ASIC infrastructure, with earnings automatically calculated and processed. The system eliminates the need for hardware ownership or technical setup, focusing on user accessibility and operational efficiency.

    AIXA Miner Potential Earnings

    AIXA Miner has recently integrated artificial intelligence to further optimize resource distribution and power allocation across its network. Enhanced algorithms improve processing speed, reduce energy waste, and increase overall system resilience.

    Security protocols include offline cold wallet storage, McAfee® SECURE compliance, and Cloudflare® network protection to ensure secure data handling and fund transfers.

    “The FinCEN MSB license reflects our commitment to regulatory transparency and operational integrity,” said a company spokesperson. “We aim to provide scalable, legally compliant infrastructure for cloud mining built on renewable energy and AI innovation.”

    About AIXA Miner
    AIXA Miner is a legally registered cloud mining platform that leverages AI-powered mining technologies and a global renewable energy infrastructure to deliver secure and sustainable access to cloud mining services. Its operations are guided by regulatory standards, cybersecurity practices, and environmental responsibility.

    Media Contact:
    like.Mikkelsen
    AIXA Miner Cloud Mining Investment Ltd
    like.Mikkelsen@aixaminer.com
    https://aixaminer.com/

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/601038eb-4c89-453d-a182-b85bd19b4d7a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4457b653-2cb4-499c-9775-85a4b1a66df1

    The MIL Network –

  • MIL-OSI Economics: Lufthansa Group Airlines optimize the travel experience through digital functions

    Source: Lufthansa Group

    Just in time for the summer, Lufthansa Group Airlines has further optimized the travel experience for its passengers with additional digital functions. The Lufthansa Group app, which has been named the best airline app worldwide, serves as a digital companion throughout the entire journey, from booking to arrival and beyond.

     “We are there for our customers and provide them with an all-round service throughout their flight – supported by digital functions. For example, our guests can now plan their trip even more easily and flexibly and count on comprehensive support in the event of last-minute changes,” emphasizes Dieter Vranckx, Chief Commercial Officer of the Lufthansa Group. “I particularly recommend that our passengers create a Travel ID profile. This offers them many advantages and helps to make their journey even more comfortable. With the new digital services, we offer them an optimized travel experience and support them at every stage of their journey.”

     

    The digital innovations at a glance:

    Lufthansa Group app receives further functions

    The Lufthansa Group app now includes even more functions that increase the travel comfort of all passengers. Lufthansa Group customers can now enjoy new, innovative tools, especially when preparing for their trip, starting with a significantly faster flight search and a smoother booking experience.

    In this context, customers are recommended to install the Lufthansa Group Airlines app and create a Travel ID profile. The Travel ID helps to make travel easier: among other things, it is possible to integrate travel documents and save personal data for future and past bookings. Further services will follow gradually. In addition, the Travel ID provides travelers with personalized information and suggested solutions should their original travel plans change unexpectedly. More than 15 million customers have already created a digital profile.

    To make traveling to the USA even more relaxed, the ESTA travel authorization is now already checked during online check-in – and the app’s passport scan has also been further improved. In addition, the passport is simply and conveniently loaded into the app during check-in. This data is also checked in the process. The website also offers a new service with information on entry guidelines and passport or visa requirements for international travel, stored in the Travel ID.

    Status, Business and First Class guests can use the app to quickly and conveniently find their preferred Lufthansa Group lounge nearby – whether in Frankfurt, New York, or Rio de Janeiro. In addition, digital menu cards and e-journals are available to travelers before the flight. Finally, the booking confirmation has also been revised and now appears in a new look.

     

    If something changes

    With the introduction of innovative self-service options, travelers can now adjust their plans more easily and flexibly. Guests whose travel plans have changed can easily and conveniently rebook themselves (in accordance with the fare conditions) on the familiar digital channels such as the Lufthansa Group app – even if they have an existing seat reservation. Passengers who have booked a seat in the new Allegris First and Business Class cabins will automatically receive a refund of the reservation fee in the event of an aircraft change if the selected seat category is no longer available.

    Also practical and available as a service in the app since March: Passengers can cancel the ticket for a single person from a booking for several people and have the individual booking refunded in accordance with the fare conditions. The website also offers a new service with information on entry regulations and passport or visa requirements for international travel. In addition, sports baggage and pets in the cabin can now also be booked quickly and conveniently online.

     

    In the event of flight irregularities and delayed baggage

    Passengers whose seat reservation cannot be maintained due to a change of aircraft will be actively rebooked to a new seat and informed of the seat change. Customers can then change their seat online. From the summer, passengers who have to spend a night in a hotel due to a flight irregularity will also automatically receive a taxi voucher by email or in the app.

    In addition, travelers with an AirTag can now use AirTag Location to securely share the location of their baggage with the baggage tracing system via the familiar digital channels, thereby speeding up delivery in the event of baggage delays. This expands the baggage status information options already available to Lufthansa Group guests in the airline apps.

    If passengers wish to submit suggestions or a compensation claim, Lufthansa Group Airlines is now offering new and improved online forms that automatically check the entries for any discrepancies and thus enable faster processing.

     

    Help Center advises travelers with service requests

    The Help Center, which via the mark symbol can be accessed on the Lufthansa Group websites and airline apps, provides travelers with targeted advice on their service requests and now offers holistic, individualized solutions with the help of artificial intelligence. Passengers with urgent requests, such as a flight within the next eight hours, are given priority support in the personal Service Center. The AI chat assistant, which can resolve many service requests, is available in German, English, Italian, French and Spanish.

    MIL OSI Economics –

  • Amitabh Kant steps down as G20 Sherpa after 45 years of government service

    Source: Government of India

    Source: Government of India (4)

    Amitabh Kant on Monday announced his decision to step down as the G20 Sherpa. His resignation comes after 45 years of government service in various roles, including G20 Sherpa, CEO of NITI Aayog, and Secretary of the Department for Industrial Policy and Promotion, among others.

    “After 45 years of dedicated government service, I have made the decision to embrace new opportunities and move forward in life,” Kant said in a post on X, titled ‘My New Journey’. He thanked Prime Minister Narendra Modi for accepting his resignation and for entrusting him with key policy responsibilities during his tenure.

    Describing the G20 Summit in India as a “significant milestone” in his career, Kant wrote in a LinkedIn post: “India’s G20 presidency was people-centric and inclusive, with meetings held across all states and union territories. This strengthened cooperative federalism, celebrated local culture, and upgraded infrastructure nationwide.”

    Kant also highlighted the successful inclusion of the African Union in the G20, which fulfilled India’s commitment to global equity and to amplifying the voice of the Global South.

    During his time at NITI Aayog, Kant led flagship initiatives such as the Aspirational Districts Programme, aimed at improving governance and development indicators in 115 of India’s most underdeveloped districts. He also played a pivotal role in shaping India’s digital public infrastructure, and championed innovation through the Atal Innovation Mission, manufacturing reforms via the PLI scheme, and sustainability through missions such as Green Hydrogen and Advanced Chemistry Cells.

    As Secretary of the DIPP, Kant played a significant role in rolling out major initiatives such as Ease of Doing Business, Make in India, and Startup India.

    Tracing his career to its roots in Kerala, Kant said his early exposure to grassroots development informed his later efforts — including the globally recognised Incredible India tourism campaign, which he described as inspired by the sector’s potential for job creation and economic growth.

    Kant’s next chapter, he said, would focus on contributing to India’s journey towards Viksit Bharat by empowering enterprise and innovation.

  • Amitabh Kant steps down as G20 Sherpa after 45 years of government service

    Source: Government of India

    Source: Government of India (4)

    Amitabh Kant on Monday announced his decision to step down as the G20 Sherpa. His resignation comes after 45 years of government service in various roles, including G20 Sherpa, CEO of NITI Aayog, and Secretary of the Department for Industrial Policy and Promotion, among others.

    “After 45 years of dedicated government service, I have made the decision to embrace new opportunities and move forward in life,” Kant said in a post on X, titled ‘My New Journey’. He thanked Prime Minister Narendra Modi for accepting his resignation and for entrusting him with key policy responsibilities during his tenure.

    Describing the G20 Summit in India as a “significant milestone” in his career, Kant wrote in a LinkedIn post: “India’s G20 presidency was people-centric and inclusive, with meetings held across all states and union territories. This strengthened cooperative federalism, celebrated local culture, and upgraded infrastructure nationwide.”

    Kant also highlighted the successful inclusion of the African Union in the G20, which fulfilled India’s commitment to global equity and to amplifying the voice of the Global South.

    During his time at NITI Aayog, Kant led flagship initiatives such as the Aspirational Districts Programme, aimed at improving governance and development indicators in 115 of India’s most underdeveloped districts. He also played a pivotal role in shaping India’s digital public infrastructure, and championed innovation through the Atal Innovation Mission, manufacturing reforms via the PLI scheme, and sustainability through missions such as Green Hydrogen and Advanced Chemistry Cells.

    As Secretary of the DIPP, Kant played a significant role in rolling out major initiatives such as Ease of Doing Business, Make in India, and Startup India.

    Tracing his career to its roots in Kerala, Kant said his early exposure to grassroots development informed his later efforts — including the globally recognised Incredible India tourism campaign, which he described as inspired by the sector’s potential for job creation and economic growth.

    Kant’s next chapter, he said, would focus on contributing to India’s journey towards Viksit Bharat by empowering enterprise and innovation.

  • MIL-OSI Banking: Samsung Launches Onyx Cinema LED Screen for European Market at CineEurope 2025

    Source: Samsung

     
    Samsung Electronics today announced the European launch of its latest Onyx (ICD model) cinema LED screen at CineEurope 2025. Building on its debut at CinemaCon 2025 in the U.S. this past April, the new Onyx brings Samsung’s acclaimed legacy of visual excellence and industry-leading performance to European cinemas, empowering exhibitors and creative partners with new possibilities for HDR content and immersive storytelling.
     
    “Europe is a vital market for cinema innovation, and the launch of Onyx marks a new chapter in our commitment to premium movie experiences,” said Hoon Chung, Executive Vice President of the Visual Display (VD) Business at Samsung Electronics. “By partnering with leading cinema chains like Pathé Cinémas and creative pioneers like Pixar, we are empowering the industry to deliver a truly immersive and visually stunning cinematic journey for audiences everywhere.”
     
     
    Delivering a Proven Solution With Visuals, Scalability and Reliability

     
    Samsung Onyx, the world’s first DCI-certified1 cinema LED display, is engineered for premium cinema experiences and supports frame rates of up to 120Hz2 at 4K resolution, for an ultra-smooth picture. The screen delivers brilliant HDR visuals with peak brightness levels of 300 nits (87.6fL),3 true black levels and precise color accuracy.
     
    The new Onyx offers four standard screen sizes — 5, 10, 14 and 20 meters — along with additional flexible scaling options.4 This remarkable adaptability allows theaters to maximize their available spaces and present films in the largest possible format without compromising image quality.
     
    Designed for long-term performance, Onyx sets a new standard in cinema display technology with the industry’s first and longest 10-year warranty for cinema LED screens.5 This extended warranty helps lower the total cost of ownership and ensures that theater owners make a future-proof investment.
     
     
    Deepening HDR Workflow With Pixar Animation Studios

     
    Samsung’s longstanding relationship with Pixar Animation Studios continues to drive new standards for HDR cinema content. Pixar has continuously mastered its films to offer unparalleled visual quality to viewers and has done so again for its new animated film “Elio” — set to premiere globally starting from June 18 — making it available in 4K theatrical HDR format compatible with Samsung Onyx.
     
    In line with ongoing efforts to expand the theatrical exhibition of HDR films, Pixar will continue mastering future films in DCI HDR that is supported on Onyx screens, ensuring audiences experience the films in the highest brightness and fidelity currently achievable.
     

     
    In its pursuit of excellence in HDR-mastered films, Pixar aims to install the new Onyx display at its Emeryville, California campus. This screen will be used during production to evaluate HDR color and brightness, conduct content quality tests and host demonstration screenings for filmmakers. By providing a dedicated space for these activities, the Onyx screen will further support creative collaboration and innovation in HDR filmmaking — ensuring that audiences can enjoy the full impact of Pixar’s high-quality HDR films showcased in theaters equipped with Onyx technology.
     
    “Samsung’s Onyx screens allow our Pixar artists to present their stories exactly as they envisioned them — vivid, dynamic and true to life,” said Jessie Schroeder, VP Post Production, Pixar Animation Studios. “By mastering our films in HDR with Onyx, we continue to unlock a new level of visual storytelling for filmmakers and deliver the next generation of cinematic experiences for our audiences.”
     
    CineEurope attendees are invited to experience the new Onyx in person at Samsung’s booth, where the company will highlight its latest innovations in cinema display technology. Taking place June 16–19 in Barcelona, CineEurope is the premier convention for the European cinema industry, uniting theater operators, film studios and industry leaders from across the region and beyond.
     
    For more details, visit samsung.com.

     
     
    1 Digital Cinema Initiatives (DCI) is a consortium of major studios formed to establish specifications for an open architecture for digital cinema systems.
    2 Based on the screen’s internal data bandwidth. Actual frame rates may vary depending on the connected IMB.
    3 Peak brightness supported when using DCI-HDR supported IMB.
    4 All measurements in meters and feet refer to screen width, while all measurements in inches denote diagonal length. The 10-meter Onyx screen is now available for order, with other models arriving in a phased rollout.
    5 Based on internal research and publicly available information. Onyx includes a standard three-year warranty, with options to extend coverage to up to 10 years.

    MIL OSI Global Banks –

  • MIL-OSI Video: All Hands on Deck for the Energy Transition

    Source: World Economic Forum (video statements)

    With the global targets of tripling renewable energy and doubling energy efficiency by 2030 fast approaching, it is critical to accelerate the implementation, build political momentum and monitor progress.

    How can countries and industries close this gap and what tools are at their disposal?

    This is the full audio from a session at the Annual Meeting 2025 in Davos. Watch it here: https://www.weforum.org/meetings/world-economic-forum-annual-meeting-2025/sessions/all-hands-on-deck-for-the-energy-transition/ Episode page with transcript: https://www.weforum.org/podcasts/agenda-dialogues/episodes/all-hands-on-deck-for-the-energy-transition

    Speakers: 

    Ève Bazaiba Masudi, Minister of State, Minister of Environment, Ministry of Environment of the Democratic Republic of the Congo

    Ursula von der Leyen, President of the European Commission, European Commission

    Fatih Birol, Executive Director, International Energy Agency

    Morten Wierod ,Chief Executive Officer, ABB

    Dina Ercilia Boluarte, President of Peru, Office of the President of Peru

    Mirek Dušek, Managing Director, Chief Business Officer and Head of Global Programming, World Economic Forum

    Gurdeep Singh, Chairman and Managing Director, NTPC

    Lars Rebien Sorensen, Chairman of the Board of Directors, Novo Nordisk Foundation

     

    Check out all our podcasts on wef.ch/podcasts (http://wef.ch/podcasts) : 

    YouTube: (https://www.youtube.com/@wef/podcasts) – https://www.youtube.com/@wef/podcasts

    Radio Davos (https://www.weforum.org/podcasts/radio-davos) – subscribe (https://pod.link/1504682164) : https://pod.link/1504682164

    Meet the Leader (https://www.weforum.org/podcasts/meet-the-leader) – subscribe (https://pod.link/1534915560) : https://pod.link/1534915560

    Agenda Dialogues (https://www.weforum.org/podcasts/agenda-dialogues) – subscribe (https://pod.link/1574956552) : https://pod.link/1574956552

    Join the World Economic Forum Podcast Club (https://www.facebook.com/groups/wefpodcastclub) : https://www.facebook.com/groups/wefpodcastclub

     

    https://www.youtube.com/watch?v=kw-MGcLzZeM

    MIL OSI Video –

  • High-level visits cement strategic partnership between India and Cyprus

    Source: Government of India

    Source: Government of India (4)

    India and the Republic of Cyprus (RoC) have sustained and deepened their bilateral relations through a series of high-level political engagements, Ministerial meetings, and institutional consultations in recent years. A statement issued by the Ministry of External Affairs (MEA) said that both countries have consistently reaffirmed their commitment to enhancing cooperation across a wide spectrum of areas including trade, innovation, defence, maritime, legal exchange, and digital transformation.

    The foundation of this longstanding relationship has been reinforced through key high-level visits. President Nicos Anastasiades of RoC paid a State visit to India from 24–29 April 2017, while the then President of India, Ram Nath Kovind, visited Cyprus from 2–4 September 2018. In subsequent years, bilateral ties have continued to progress through meetings between top leadership and diplomatic representatives.

    Prime Minister Narendra Modi met President Anastasiades during the United Nations General Assembly (UNGA) in New York on 26 September 2019 and earlier during the Commonwealth Heads of Government Meeting (CHOGM) in London on 20 April 2018.

    External Affairs Minister Dr. S. Jaishankar has had multiple engagements with his Cypriot counterparts in recent years. In a virtual meeting with then Foreign Minister Nikos Christodoulides on 16 February 2021, both sides expressed satisfaction over the growing trajectory of bilateral ties and agreed to maintain momentum across high-level exchanges, economic partnership, and people-to-people ties. EAM Jaishankar held further discussions with Foreign Minister Ioannis Kasoulides on the sidelines of CHOGM 2022 in Kigali and again at the 77th UNGA in New York in September 2022.

    EAM Dr. Jaishankar visited Cyprus from 29–31 December 2022. During the visit, he held meetings with Acting President and Speaker of the House of Representatives Annita Demetriou, and Foreign Minister Ioannis Kasoulides. Two key agreements were signed: a Memorandum of Understanding (MoU) on Defence and Military Cooperation and a Declaration of Intent on a Migration and Mobility Partnership Agreement (MMPA). Additionally, RoC joined the International Solar Alliance during this visit. EAM and his counterpart also addressed an Economic and Business Forum in Limassol on 30 December 2022.

    Engagements between the two countries have continued at multilateral fora. EAM met with RoC Foreign Minister Dr. Constantinos Kombos on the sidelines of the EU-Indo Pacific Forum in Stockholm on 13 May 2023, and again during the 78th UNGA in New York on 23 September 2023, followed by another meeting during the 79th UNGA on 25 September 2024, and later during the Doha Forum on 7 December 2024.

    Minister of State for Ports, Shipping and Waterways Shantanu Thakur visited Cyprus from 8–11 October 2023 to attend the “Cyprus Maritime 2023 Conference” in Limassol. The event, inaugurated by President Nikos Christodoulides, served as a platform to discuss maritime cooperation and future shipping partnerships. On the sidelines, MoS held a bilateral meeting with the Shipping Deputy Minister Marina Hadjimanolis and also engaged with the Indian shipping community and professionals based in Cyprus.

    Dr. Nicodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy of RoC, led a delegation to New Delhi from 5–6 September 2024 to participate in the “CII India Mediterranean Business Conclave.” He joined Commerce Minister Piyush Goyal and EAM Jaishankar during a ministerial session on trade and investment.

    Judicial and legal cooperation also received a boost when a high-level delegation from India, led by Justice Surya Kant and Attorney General R. Venkataramani, visited RoC to attend the Commonwealth Legal Education Association (CLEA) International Conference held at UCLan Cyprus from 7–8 October 2024.

    To institutionalize the strategic dialogue, the sixth round of Foreign Office Consultations (FOC) was held on 26 November 2024 in Nicosia.

  • High-level visits cement strategic partnership between India and Cyprus

    Source: Government of India

    Source: Government of India (4)

    India and the Republic of Cyprus (RoC) have sustained and deepened their bilateral relations through a series of high-level political engagements, Ministerial meetings, and institutional consultations in recent years. A statement issued by the Ministry of External Affairs (MEA) said that both countries have consistently reaffirmed their commitment to enhancing cooperation across a wide spectrum of areas including trade, innovation, defence, maritime, legal exchange, and digital transformation.

    The foundation of this longstanding relationship has been reinforced through key high-level visits. President Nicos Anastasiades of RoC paid a State visit to India from 24–29 April 2017, while the then President of India, Ram Nath Kovind, visited Cyprus from 2–4 September 2018. In subsequent years, bilateral ties have continued to progress through meetings between top leadership and diplomatic representatives.

    Prime Minister Narendra Modi met President Anastasiades during the United Nations General Assembly (UNGA) in New York on 26 September 2019 and earlier during the Commonwealth Heads of Government Meeting (CHOGM) in London on 20 April 2018.

    External Affairs Minister Dr. S. Jaishankar has had multiple engagements with his Cypriot counterparts in recent years. In a virtual meeting with then Foreign Minister Nikos Christodoulides on 16 February 2021, both sides expressed satisfaction over the growing trajectory of bilateral ties and agreed to maintain momentum across high-level exchanges, economic partnership, and people-to-people ties. EAM Jaishankar held further discussions with Foreign Minister Ioannis Kasoulides on the sidelines of CHOGM 2022 in Kigali and again at the 77th UNGA in New York in September 2022.

    EAM Dr. Jaishankar visited Cyprus from 29–31 December 2022. During the visit, he held meetings with Acting President and Speaker of the House of Representatives Annita Demetriou, and Foreign Minister Ioannis Kasoulides. Two key agreements were signed: a Memorandum of Understanding (MoU) on Defence and Military Cooperation and a Declaration of Intent on a Migration and Mobility Partnership Agreement (MMPA). Additionally, RoC joined the International Solar Alliance during this visit. EAM and his counterpart also addressed an Economic and Business Forum in Limassol on 30 December 2022.

    Engagements between the two countries have continued at multilateral fora. EAM met with RoC Foreign Minister Dr. Constantinos Kombos on the sidelines of the EU-Indo Pacific Forum in Stockholm on 13 May 2023, and again during the 78th UNGA in New York on 23 September 2023, followed by another meeting during the 79th UNGA on 25 September 2024, and later during the Doha Forum on 7 December 2024.

    Minister of State for Ports, Shipping and Waterways Shantanu Thakur visited Cyprus from 8–11 October 2023 to attend the “Cyprus Maritime 2023 Conference” in Limassol. The event, inaugurated by President Nikos Christodoulides, served as a platform to discuss maritime cooperation and future shipping partnerships. On the sidelines, MoS held a bilateral meeting with the Shipping Deputy Minister Marina Hadjimanolis and also engaged with the Indian shipping community and professionals based in Cyprus.

    Dr. Nicodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy of RoC, led a delegation to New Delhi from 5–6 September 2024 to participate in the “CII India Mediterranean Business Conclave.” He joined Commerce Minister Piyush Goyal and EAM Jaishankar during a ministerial session on trade and investment.

    Judicial and legal cooperation also received a boost when a high-level delegation from India, led by Justice Surya Kant and Attorney General R. Venkataramani, visited RoC to attend the Commonwealth Legal Education Association (CLEA) International Conference held at UCLan Cyprus from 7–8 October 2024.

    To institutionalize the strategic dialogue, the sixth round of Foreign Office Consultations (FOC) was held on 26 November 2024 in Nicosia.

  • Rugby Premier League kicks off in Mumbai with glitzy opening ceremony

    Source: Government of India

    Source: Government of India (4)

    The inaugural season of the Rugby Premier League (RPL) got underway on Sunday with a grand opening ceremony at the Shahaji Raje Bhosale Sports Complex (Andheri Sports Complex), Mumbai, marking a significant moment for the sport in India.

    The event saw attendance from a mix of sports officials, Bollywood celebrities, and business leaders. Abhishek Bachchan, who serves as the Sports Ambassador and Friend of Rugby, joined GBS Raju, Business Chairman – Airports, GMR Group, and Rahul Bose, President of Rugby India, in unveiling the tournament’s trophy.

    The 22-inch tall trophy, as described by the organisers, features a black nickel-plated hand holding a gold-plated rugby ball, symbolising teamwork, strength, and collective effort — the core tenets of the sport. The use of fused metals was said to represent India’s blend of tradition and modernity.

    The opening evening also included a musical performance by composer-singer Shankar Mahadevan, who presented the official Rugby Anthem, energising the crowd. The event drew several film personalities including Shabana Azmi, Siddharth Roy Kapur, Vidya Balan, Aparshakti Khurana, and Ishwak Singh.

    The league will feature six franchises competing over 34 matches across two weeks. Thirty Indian players, selected from a pool of 71 during the league’s player auction, will play alongside international names, offering a global flavour to the contest.

    The final is slated for June 29, concluding what promises to be a fortnight of high-intensity action and a major push for rugby’s popularity in India.

    The Season 1 finale is set for June 29, capping two weeks of high-octane rugby as teams battle for the coveted title.

  • Rugby Premier League kicks off in Mumbai with glitzy opening ceremony

    Source: Government of India

    Source: Government of India (4)

    The inaugural season of the Rugby Premier League (RPL) got underway on Sunday with a grand opening ceremony at the Shahaji Raje Bhosale Sports Complex (Andheri Sports Complex), Mumbai, marking a significant moment for the sport in India.

    The event saw attendance from a mix of sports officials, Bollywood celebrities, and business leaders. Abhishek Bachchan, who serves as the Sports Ambassador and Friend of Rugby, joined GBS Raju, Business Chairman – Airports, GMR Group, and Rahul Bose, President of Rugby India, in unveiling the tournament’s trophy.

    The 22-inch tall trophy, as described by the organisers, features a black nickel-plated hand holding a gold-plated rugby ball, symbolising teamwork, strength, and collective effort — the core tenets of the sport. The use of fused metals was said to represent India’s blend of tradition and modernity.

    The opening evening also included a musical performance by composer-singer Shankar Mahadevan, who presented the official Rugby Anthem, energising the crowd. The event drew several film personalities including Shabana Azmi, Siddharth Roy Kapur, Vidya Balan, Aparshakti Khurana, and Ishwak Singh.

    The league will feature six franchises competing over 34 matches across two weeks. Thirty Indian players, selected from a pool of 71 during the league’s player auction, will play alongside international names, offering a global flavour to the contest.

    The final is slated for June 29, concluding what promises to be a fortnight of high-intensity action and a major push for rugby’s popularity in India.

    The Season 1 finale is set for June 29, capping two weeks of high-octane rugby as teams battle for the coveted title.

  • India positioned to become world’s third-largest economy, says PM Modi in Cyprus

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi and the President of Cyprus, Nikos Christodoulides, held a high-level roundtable interaction with business leaders from both India and Cyprus in Limassol on Sunday. The engagement brought together stakeholders from a wide range of sectors including banking, financial institutions, manufacturing, defence, logistics, maritime, shipping, technology, digital innovation, artificial intelligence, IT services, tourism and mobility.

    During the interaction, Prime Minister Modi highlighted India’s robust economic transformation over the last eleven years, noting the country’s consistent growth driven by major reforms, policy stability, and improvements in the Ease of Doing Business.

    “India’s focus on innovation, digital revolution, start-up culture and future-ready infrastructure is positioning it firmly on the path to becoming the world’s third-largest economy,” the Prime Minister said. He noted that sectors such as civil aviation, port and shipbuilding, digital payments, and green development offer promising avenues for cooperation with Cyprus-based enterprises.

    The Prime Minister further pointed to the expansion of sectors such as civil aviation, shipbuilding, digital payments, and green development as avenues of cooperation for Cypriot businesses. He also underlined India’s growing capabilities in new-age industries like AI, Quantum technology, Semiconductors, and Critical Minerals.

    Describing Cyprus as an “important economic partner,” Prime Minister Modi welcomed the island nation’s interest in increasing investments into India, particularly in the Foreign Direct Investment (FDI) domain.

    The interaction also witnessed the announcement of several collaborative initiatives. A Memorandum of Understanding (MoU) was signed between the NSE International Exchange at GIFT City, Gujarat, and the Cyprus Stock Exchange to deepen cooperation in financial markets. In a key development for digital payments, NIPL (NPCI International Payments Limited) and Eurobank Cyprus reached an understanding to introduce Unified Payments Interface (UPI) for cross-border transactions. The move is expected to benefit both tourists and businesses by simplifying payments.

    Prime Minister Modi also welcomed the launch of the India–Greece–Cyprus (IGC) Business and Investment Council. The council is expected to strengthen trilateral cooperation in key sectors such as shipping, logistics, renewable energy, civil aviation and digital services.

    “Indian companies increasingly view Cyprus as a gateway to Europe and a hub for IT services, financial management, and tourism,” said the Prime Minister.

    As Cyprus prepares to assume the Presidency of the European Union Council next year, both leaders reaffirmed their commitment to strengthening the India-EU Strategic Partnership. They expressed optimism about concluding the long-pending India-EU Free Trade Agreement by the end of the year, which would provide a fresh impetus to trade and investment.

    Reflecting on the outcomes of the roundtable, Prime Minister Modi said, “The practical suggestions emerging from today’s discussion will help chart a structured roadmap for deepening cooperation in trade, innovation, and strategic sectors.”

  • India positioned to become world’s third-largest economy, says PM Modi in Cyprus

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi and the President of Cyprus, Nikos Christodoulides, held a high-level roundtable interaction with business leaders from both India and Cyprus in Limassol on Sunday. The engagement brought together stakeholders from a wide range of sectors including banking, financial institutions, manufacturing, defence, logistics, maritime, shipping, technology, digital innovation, artificial intelligence, IT services, tourism and mobility.

    During the interaction, Prime Minister Modi highlighted India’s robust economic transformation over the last eleven years, noting the country’s consistent growth driven by major reforms, policy stability, and improvements in the Ease of Doing Business.

    “India’s focus on innovation, digital revolution, start-up culture and future-ready infrastructure is positioning it firmly on the path to becoming the world’s third-largest economy,” the Prime Minister said. He noted that sectors such as civil aviation, port and shipbuilding, digital payments, and green development offer promising avenues for cooperation with Cyprus-based enterprises.

    The Prime Minister further pointed to the expansion of sectors such as civil aviation, shipbuilding, digital payments, and green development as avenues of cooperation for Cypriot businesses. He also underlined India’s growing capabilities in new-age industries like AI, Quantum technology, Semiconductors, and Critical Minerals.

    Describing Cyprus as an “important economic partner,” Prime Minister Modi welcomed the island nation’s interest in increasing investments into India, particularly in the Foreign Direct Investment (FDI) domain.

    The interaction also witnessed the announcement of several collaborative initiatives. A Memorandum of Understanding (MoU) was signed between the NSE International Exchange at GIFT City, Gujarat, and the Cyprus Stock Exchange to deepen cooperation in financial markets. In a key development for digital payments, NIPL (NPCI International Payments Limited) and Eurobank Cyprus reached an understanding to introduce Unified Payments Interface (UPI) for cross-border transactions. The move is expected to benefit both tourists and businesses by simplifying payments.

    Prime Minister Modi also welcomed the launch of the India–Greece–Cyprus (IGC) Business and Investment Council. The council is expected to strengthen trilateral cooperation in key sectors such as shipping, logistics, renewable energy, civil aviation and digital services.

    “Indian companies increasingly view Cyprus as a gateway to Europe and a hub for IT services, financial management, and tourism,” said the Prime Minister.

    As Cyprus prepares to assume the Presidency of the European Union Council next year, both leaders reaffirmed their commitment to strengthening the India-EU Strategic Partnership. They expressed optimism about concluding the long-pending India-EU Free Trade Agreement by the end of the year, which would provide a fresh impetus to trade and investment.

    Reflecting on the outcomes of the roundtable, Prime Minister Modi said, “The practical suggestions emerging from today’s discussion will help chart a structured roadmap for deepening cooperation in trade, innovation, and strategic sectors.”

  • MIL-OSI New Zealand: Erosion of Safety Protections – Government turns its back on workers’ safety – CTU

    Source: New Zealand Council of Trade Unions Te Kauae Kaimahi

    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.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Government turns its back on workers’ safety

    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.

    MIL OSI New Zealand News –

  • MIL-OSI China: China-Africa expo showcases vitality of economic, trade cooperation

    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. 

    MIL OSI China News –

  • MIL-OSI China: New image of ‘Made-in-China’ captures hearts around the world

    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. 

    MIL OSI China News –

  • MIL-OSI China: China-Africa expo closes with bumper deals signed

    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.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: InvestHK concludes fruitful Canada visit to deepen economic and business ties (with photos)

    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.”

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: Pharmac funding u-turn for patients

    Source: New Zealand Government

    Associate Health Minister David Seymour says the oestradiol patch funding decision is an example of Pharmac’s new patient-centric approach.

    From December 2025 Pharmac will fund two brands of oestradiol patches, Estradot and Estradiol TDP Mylan. 

    “Pharmac received significant feedback at the end of last year about a decision to move to Estradiol TDP Mylan as the only funded brand of oestradiol patch. They heard very clearly that the TDP Mylan brand of patch did not work for everyone, and that people wanted options,” Mr Seymour says.  

    “I’m pleased to see Pharmac’s responsiveness to the voices of patients by funding both brands. This decision reflects our commitment to a more adaptable and patient-centric approach.

    “The community let Pharmac know that they weren’t consulted enough on the original decision. Pharmac has learnt from this, and has added an additional consultation step to its annual tender process to seek feedback when considering a medicine brand change. This patient-centric approach was taken in today’s funding decision. 

    “Pharmac worked and engaged with people who use oestradiol patches, menopause specialists, doctors, nurses, pharmacists, advocacy groups and petition founders in making the decision to fund both brands of patches. 

    “People should have the opportunity to share what the impact of brand changes would be for them, and what support would be required if there was a change to their current medicine.

    “Last year I outlined in my letter of expectations that Pharmac should have appropriate processes for ensuring that people living with an illness, along with their carers and family, can participate in and provide input into decision-making processes around medicines, this is part of the ACT-National Coalition Agreement.

    “I expect all key groups to be involved in changes to funded medicine brands through the annual tender. This approach ensures stakeholder engagement while managing financial and operational impacts.

    The annual tender process is a key mechanism for Pharmac to manage pharmaceutical expenditure at a relatively low transactional cost. Once a year Pharmac invites suppliers to bid to be the main suppliers of certain medicines. This process can realise between $30 million and $50 million savings per year to spend on new treatments.

    “The redirection of Pharmac remains positive and continues towards a more adaptable and patient-centred approach to funding medicines,” says Mr Seymour.

    “The decisions to fund Estradot and Estradiol TDP Mylan, and to improve consultation criteria on the annual tender process follows the Pharmac Consumer Engagement Workshop Report, and my letter of expectations, are positive steps towards a system which works for the people it serves.”

    MIL OSI New Zealand News –

  • MIL-Evening Report: 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 overseas or dumped in landfill.

    One in three Australian homes now have rooftop solar panels, and new systems are being installed at the rate of 300,000 a year. Meanwhile, older systems are being scrapped – often well before the end of their useful life.

    This has made solar panels Australia’s fastest-growing electronic waste stream. Yet federal government plans for a national scheme to manage this waste appear to have stalled.

    Clearly, solar panel waste is a major problem for Australia. Recycling is one part of the solution. But Australia also needs new rules so solar panels can be repaired and reused.

    Millions of solar panels dumped as upgrades surge (ABC News, June 12, 2025)

    What are product stewardship schemes?

    The Smart Energy Council, which represents the solar industry, is calling for a national product stewardship scheme.

    Product stewardship schemes share responsibility for reducing waste at the end of a product’s useful life. They can involve people all along the supply chain, from manufacturers to importers to retailers.

    Such schemes may be voluntary, and industry-led, or mandatory and legislated. Alternatively, they can be shared – approved by government but run by an organisation on behalf of industry.

    Existing schemes manage waste such as oil, tyres, paper and packaging, mobile phones, televisions and computers.

    Depending on the product, a levy is paid by the manufacturer, product importer, network service provider (in case of mobile muster), retailer or consumer – or a combination of these. The money raised is then invested in recycling, research or raising awareness and administering the scheme.

    Establishing a solar panel product stewardship scheme

    Solar panel systems were added to a national priority list for a product stewardship scheme in 2017.

    In December 2020, the federal government called for partners to help develop the scheme, but later stated that no partnership would be struck.

    The government released a discussion paper for comment in 2023. The scheme has not yet been established.

    This is particularly problematic given Australia’s commitment to renewable energy, which will entail a rapid expansion of solar technology.

    Recycling should be the last resort

    Product stewardship schemes assume recycling is the main solution to the waste problem.

    Australia’s National Waste Policy also focuses on on recycling, rather than reuse or repair. This is despite recycling being the last resort on the “waste hierarchy”, just slightly above disposal.

    Solar photovoltaic panels are built to last 30 years or more, and are “not made to be unmade”. They are not easy to dismantle for recycling because they are built to withstand harsh conditions.

    It’s difficult for Australia to influence the design of solar panels, given 99% are imported. Just one manufacturer, Tindo Solar in Adelaide, assembles solar panels on Australian soil, using imported silicon cells.

    Many solar panels are being removed well before their end of life, generating waste ahead of time. This is rarely because they have stopped producing power.

    In our previous research, we found many reasons why people chose to take solar panels down. Consumers are often advised to replace the whole system when just a few panels are faulty. Or they may simply be upgrading to a larger, more efficient system. Sometimes it’s because they want to access a new renewable energy subsidy.

    Renewable subsidies and other solar panel policies should be redesigned to keep panels on roofs for longer.

    Functioning solar panels removed before the end of their life should be reused. This would require new regulations including quality-control measures certifying second-hand solar panels, and second-hand markets. This is a much neglected field of research and development.

    What else should such a scheme include?

    Others have discussed what a solar panel product stewardship scheme could include and the possible regulatory environment.

    We think the scheme should also involve collecting and transporting panels around Australia, including remote areas.

    Unfortunately, existing product stewardship schemes do not differentiate between urban, regional and remote areas. The same is likely to be the case for a solar panel collection and recycling scheme.

    This leaves regional and remote areas with fewer recycling facilities and collection points. With a growing number of large solar projects in Northern Australia, reducing waste is imperative.

    Remote island communities in the Northern Territory bundle up their recyclables and ship it to Darwin. Removed solar panels are then transported to urban Victoria, New South Wales or South Australia for processing. Who should bear the cost of transporting this waste? Consumers, remote regional councils with small ratepayer bases, or manufacturers and retailers?

    A well-designed scheme would help recover valuable resources across Australia for reuse in new products.

    However, large volumes of solar panels would be required for recycling schemes to become commercially viable. That’s why the solar recycling industry is concerned about exporters and scrap dealers collecting panels rather then certified solar panel recyclers.

    Even if the technology for recycling solar panels is nascent in Australia, it’s worth stockpiling panels in Australia for later.

    Considering these issues in the design of a product stewardship scheme would help ensure we can maximise the benefits of renewable energy, while minimising waste.

    Deepika Mathur has received research funding from the Northern Territory and federal governments.

    Robin Gregory is affiliated with Regional Development Australia Northern Territory

    – ref. A solar panel recycling scheme would help reduce waste, but please repair and reuse first – https://theconversation.com/a-solar-panel-recycling-scheme-would-help-reduce-waste-but-please-repair-and-reuse-first-258806

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Economics: CBB holds third Board meeting for 2025

    Source: Central Bank of Bahrain

    CBB holds third Board meeting for 2025

    Published on 15 June 2025

    Manama, Kingdom of Bahrain – 15 June 2025 – The Central Bank of Bahrain’s (CBB) Board of Directors held its third meeting for the year 2025, chaired by Mr. Hassan Khalifa Al Jalahma on Sunday, 15 June 2025.

    The Board reviewed the topics on the agenda and was presented with key developments related to the CBB’s priorities by HE Khalid Humaidan.  In addition, the Board reviewed the CBB’s licensing activities, policies, and other achievements thus far in 2025.

    The Board also reviewed key monetary and banking indicators for the period up to April 2025 including the money supply, which increased by BD5.2 billion to reach BD 16.8 billion at the end of April 2025, compared to the same period in 2024. As for retail banks, total private deposits increased to around BD 0.5 billion at the end of April 2025, an increase of 3.5% compared to the end of April 2024. The outstanding balance of total loans and credit facilities extended to resident economic sectors increased to BD12.4 billion at the end of April 2025, an increase of 1.8% compared April 2024, with the Business Sector accounting for 43.3% and the Personal Sector at 48.9% of total loans and credit facilities.  The balance sheet of the banking system (retail banks and wholesale sector banks) increased to $244.7 billion at the end of April 2025, an increase of 2.3% compared to the end April of 2024.

    Point of Sales (POS) data for April 2025 totaled 21.5 million transactions (77.6% of which were contactless), an increase of 28.5% compared to the same period in 2024. The total value of POS transactions for April 2025 totaled BD 428.2 million (52.5% of which were contactless), an increase of 17.3% compared to the same period in 2024.

    The banking sector capital adequacy ratio reached 20.6% in Q1 2025 compared with 22.2% in Q1 2024. The capital adequacy ratio for the various banking sectors was 29.4% for conventional retail banks, 16.6% for conventional wholesale banks, 23.8% for Islamic retail banks, and 21.1% for Islamic wholesale banks in Q1 2025.

    The total number of registered Collective Investment Undertakings (CIUs) as of March 2025 stood at 1737 CIUs, compared to 1699 CIUs as of March 2024. The net asset value (NAV) of the CIUs decreased from US $11.551 billion in Q1 2024 to US $11.269 billion in Q1 2025, reflecting a decrease of 2.4%. The NAV of Bahrain domiciled CIUs decreased from US $4.586 billion in Q1 2024 to US $4.411 billion in Q1 2025, reflecting a decrease of 3.8%. The NAV of overseas domiciled CIUs decreased from US $6.965 billion in Q1 2024 to US $6.858 billion in Q1 2025, reflecting a decrease of 1.5%. Additionally, the NAV of Shari’a-compliant CIUs increased from US $1.743 billion in Q1 2024 to US $2.004 billion in Q1 2025, reflecting an increase of 15%.

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    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Mable Chan to visit Shanghai

    Source: Hong Kong Information Services

    Secretary for Transport ＆ Logistics Mable Chan will begin a two-day duty visit to Shanghai tomorrow to promote Hong Kong’s strengths in maritime services to the Mainland shipping sector.

    During the visit, Ms Chan will also inspect an automated port terminal to explore collaboration opportunities, and meet local government officials to exchange views on issues of mutual interest.

    Ms Chan will return to Hong Kong on Tuesday afternoon. During her absence, Secretary for Commerce & Economic Development Algernon Yau will be Acting Secretary for Transport & Logistics.　

    MIL OSI Asia Pacific News –