NewzIntel.com

Category: Commerce

  • Trump calls Musk’s formation of new party ‘ridiculous’ and criticizes his own NASA pick

    Source: Government of India

    Source: Government of India (4)

    President Donald Trump on Sunday called Elon Musk’s plans to form a new political party “ridiculous,” launching new barbs at the tech billionaire and saying the Musk ally he once named to lead NASA would have presented a conflict of interest given Musk’s business interests in space.

    A day after Musk escalated his feud with Trump and announced the formation of a new U.S. political party, the Republican president was asked about it before boarding Air Force One in Morristown, New Jersey, as he returned to Washington upon visiting his nearby golf club.

    “I think it’s ridiculous to start a third party. We have a tremendous success with the Republican Party. The Democrats have lost their way, but it’s always been a two-party system, and I think starting a third party just adds to confusion,” Trump told reporters.

    “It really seems to have been developed for two parties. Third parties have never worked, so he can have fun with it, but I think it’s ridiculous.”

    Shortly after speaking about Musk, Trump posted further comments on his Truth Social platform, saying, “I am saddened to watch Elon Musk go completely ‘off the rails,’ essentially becoming a TRAIN WRECK over the past five weeks.”

    Musk announced on Saturday that he is establishing the “America Party” in response to Trump’s tax-cut and spending bill, which Musk said would bankrupt the country.

    “What the heck was the point of @DOGE if he’s just going to increase the debt by $5 trillion??” Musk wrote on X on Sunday, referring to the government downsizing agency he briefly led. Critics have said the bill will damage the U.S. economy by significantly adding to the federal budget deficit.

    Musk said his new party would in next year’s midterm elections look to unseat Republican lawmakers in Congress who backed the sweeping measure known as the “big, beautiful bill.”

    Musk spent millions of dollars underwriting Trump’s 2024 re-election effort and, for a time, regularly showed up at the president’s side in the White House Oval Office and elsewhere. Their disagreement over the spending bill led to a falling out that Musk briefly tried unsuccessfully to repair.

    Trump has said Musk is unhappy because the measure, which Trump signed into law on Friday, takes away green-energy credits for Tesla’s electric vehicles. The president has threatened to pull billions of dollars Tesla and SpaceX receive in government contracts and subsidies in response to Musk’s criticism.

    NASA APPOINTMENT ‘INAPPROPRIATE’

    Trump in his social media comments also said it was “inappropriate” to have named Musk ally Jared Isaacman as NASA administrator considering Musk’s business with the space agency. In December Trump named Isaacman, a billionaire private astronaut, to lead NASA but withdrew the nomination on May 31, before his Senate confirmation vote and without explanation.

    Trump, who has yet to announce a new NASA nominee, on Sunday confirmed media reports he disapproved of Isaacman’s previous support for Democratic politicians.

    “I also thought it inappropriate that a very close friend of Elon, who was in the Space Business, run NASA, when NASA is such a big part of Elon’s corporate life,” Trump said on Truth Social. “My Number One charge is to protect the American Public!”

    Musk’s announcement of a new party immediately brought a rebuke from Azoria Partners, which said on Saturday it will postpone the listing of its Azoria Tesla Convexity exchange-traded fund because the party’s creation posed “a conflict with his full-time responsibilities as CEO.” Azoria was set to launch the Tesla ETF this week.

    Azoria CEO James Fishback posted on X several critical comments about the new party and reiterated his support for Trump.

    “I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO,” Fishback said.

    (Reuters)

  • MIL-OSI New Zealand: Government Employment – First-ever strike at Pharmac – PSA

    Source: PSA

    Health economists, Māori health experts, and medical practitioners who are members of the New Zealand Public Service Association Te Pūkenga Here Tikanga Mahi at Pharmac will strike this week, the first-ever at the agency, after their employer proposed an unacceptable pay offer and an extensive clawback of conditions.
    The strike will involve walking off the job on Wednesday 9 July at 10:30am for one hour.
    “The team at Pharmac, like many other Government agencies, are constantly being asked to deliver more with less,” PSA National Secretary, Fleur Fitzsimons says.
    “Pharmac does essential work getting life-saving medicines to New Zealanders. Workers and their families deserve a fair pay increase and decent conditions of work, not this terrible pay offer and a reduction in their conditions of work.”
    The PSA initiated bargaining over a year ago in June 2024, but Pharmac did not bargain until October.
    At the bargaining, Pharmac management proposed a number of reductions in terms and conditions of employment, including a service eligibility for step pay progression and only making redundancy available to permanent staff, as well as a pay offer of just 0.2 per cent.
    In June this year, the PSA proposed mediation after Pharmac proposed to remove members’ step pay system.
    In mediation, Pharmac proposed a number of new reductions in terms and conditions. Most notably, it proposed a reduction in the size of step pay increases in exchange for a one-off ‘buyout’ of the step increase employees would have otherwise received this year.
    “The public servants at Pharmac care deeply about serving New Zealanders. All they ask in return is the right pay and conditions so that they can do their jobs effectively,” Fitzsimons says.
    Pharmac staff will be picketing outside their office at 40 Mercer Street from 10:30am-11:30am during the industrial action.
    The parties are attending mediation with the Ministry of Business Innovation and Employment on 16 and 17 July 2025.
    Other PSA statements on Pharmac:
    The Public Service Association Te Pūkenga Here Tikanga Mahi is Aotearoa New Zealand’s largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Avoid these pitfalls when updating NFP details

    Source: New places to play in Gungahlin

    Having your NFP’s details up to date makes managing your tax and super affairs easier. Having accurate, up-to-date information:

    • helps us contact your organisation with information about important changes in the sector
    • ensures you can access Online services for business for tasks like your NFP self-review return
    • makes managing your tax and super obligations easier.

    You should update:

    • ABN details on the Australian Business Register (ABR)
    • Financial institution details with the Australian Taxation Office (ATO)
    • Authorisation details in Relationship Authorisation Manager (RAM).

    There are a few pitfalls we see NFPs fall into when notifying us of changes – here’s how you can avoid them.

    Pitfall 1: Thinking there’s only one way to update an NFP’s details

    There are three ways to notify us of changes.

    1. Online: you can update some details online on the Australian Business RegisterExternal Link, in Online services for businessExternal Link, or a registered tax or BAS agent can update your details. You can update authorisations on Relationship Authorisation ManagerExternal Link (RAM).
    2. Phone: authorised contacts can phone us to update most details (except public officer information). When you call be ready to confirm your identity so we can check you’re authorised to act for your NFP. We’ll ask for your NFP’s name and tax file number or Australian business number. We’ll also ask for 3 items to prove your own identity, so we can check that we’re actually talking to you, and not someone pretending to be you.
    3. Paper: you can use the Change of registration details (NAT 2943) paper form. Fill it out on your computer or device before you print the form, or by hand using a black or dark blue pen and clear BLOCK LETTERS. This is the slowest method to notify us of changes.

    Normally, an NFP’s existing associate (principal authority) in RAM adds new associates or removes associates who have stepped away from their old roles.

    If the previous principal authority is unavailable, someone newly appointed to an official role can use the Change of registration details (NAT 2943) paper form to notify us you should be the principal authority. You must provide evidence of your approved appointment to a formal position in the NFP. These include meeting minutes that show your appointment, or a notification from the board or committee stating your approved role, such as a letter.

    It can take 4 to 8 weeks for us to process this request. Once your details are updated, make sure you keep them current – it’s much faster to update your authorisations online.

    Pitfall 3: Incorrectly filling out the Change of registration details form

    When filling out the form, it’s especially important to complete:

    • Section A – your NFP’s information
    • Section D – postal and email address
    • Section F – new associate details
    • Section H – signature of the new associate at the declaration, plus attach evidence of their appointment.

    Attach your evidence to the back of the form to avoid delays. You’ll be notified by email once your updates are processed.

    If you’re unsure about how to update your details and or what you need to update, more information and useful tools are available at ato.gov.au/NFPnotifyofchanges

    Pitfall 4: Thinking it can wait

    You must update the ABR within 28 days of any of the following changes:

    • entity name or registered business name, Australian company number (ACN) or Australian Registered Body Number (ARBN)
    • associates or official position holders, public officer, name of trustees
    • authorised contact person
    • financial institution account details
    • postal, email or business address
    • main organisation activity.

    Tip: before and after your annual general meeting (AGM) is a great time to check and update your records, including adding new authorisations and removing anyone who has stepped down.

    More information

    SubscribingExternal Link to our monthly Not-for-profit newsletter is a great way to stay up to date with your reporting obligations.

    For updates throughout the month, Assistant Commissioner Jennifer Moltisanti regularly shares blog posts and updates on her LinkedInExternal Link profile. And you can check out our online platform ATO CommunityExternal Link to find answers to your tax and super questions.

    MIL OSI News –

  • Trump says US nears trade deals as tariff deadline delayed

    Source: Government of India

    Source: Government of India (4)

    The United States is close to finalizing several trade pacts in coming days and will notify other countries of higher tariff rates by July 9, President Donald Trump said on Sunday, with the higher rates set to take effect on August 1.

    Since taking office, Trump has set off a global trade war that has roiled financial markets and sent policymakers scrambling to protect their economies, through efforts such as deals with the United States and other countries.

    In April Trump unveiled a base tariff rate of 10% on most countries and additional duties of up to 50%, but later gave a three-week reprieve until Wednesday for all but 10% of them.

    Trump, whose remarks to reporters on Sunday came just before his return to Washington from a weekend golfing in New Jersey, had flagged the August 1 date earlier, but it was unclear if all tariffs would increase then.

    Asked to clarify, Commerce Secretary Howard Lutnick told reporters the higher tariffs would take effect on August 1, but Trump was “setting the rates and the deals right now.”

    In a posting on his Truth Social website, Trump later said the U.S. would start delivering tariff letters from 12:00 pm ET (1600 GMT) on Monday.

    In a separate post, he rolled out a wholly new tariff policy, calling for countries “aligning themselves with the Anti-American policies” of the BRICS developing nations to be charged an extra 10% tariff, with no exceptions to be granted.

    The first BRICS summit in 2009 was attended by leaders from Brazil, China, India and Russia, with South Africa joining later while Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates were included last year.

    Trump has close ties to leaders of some of those countries, such as Saudi Arabia and UAE, and has been touting the prospect of a trade deal with India for weeks.

    On Sunday, BRICS leaders condemned attacks on Gaza and Iran, called for reforms to global institutions and warned that the rise in tariffs threatened global trade.

    It was not immediately clear if Trump’s tariff threat would derail trade talks with India, Indonesia and other BRICS nations, however.

    Earlier on Sunday, U.S. Treasury Secretary Scott Bessent told CNN’s “State of the Union” that several big trade agreements would be announced in the next days, adding that European Union talks had made good progress.

    Trump would also send letters to 100 smaller countries with which the United States does not have much trade, notifying them of higher tariff rates, he added.

    “President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1 you will boomerang back to your April 2 tariff level,” Bessent said.

    “So I think we’re going to see a lot of deals very quickly.”

    Kevin Hassett, who heads the White House National Economic Council, told CBS’s “Face the Nation” program there might be wiggle room for countries engaged in earnest negotiations.

    “There are deadlines, and there are things that are close, and so maybe things will push back past the deadline,” Hassett said, adding that Trump would decide.

    ‘I HEAR GOOD THINGS’

    Stephen Miran, chairman of the White House Council of Economic Advisers, told ABC News’ “This Week” program that countries needed to make concessions to get lower tariff rates.

    “I hear good things about the talks with Europe. I hear good things about the talks with India,” Miran said. “And so I would expect that a number of countries that are in the process of making those concessions … might see their date rolled.”

    Bessent told CNN the Trump administration was focused on 18 important trading partners that account for 95% of the U.S. trade deficit. But he said there had been “a lot of foot-dragging” among countries in finalizing trade deals.

    Thailand, keen to avert a 36% tariff, is now offering greater market access for U.S. farm and industrial goods and more purchases of U.S. energy and Boeing BA.N jets, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday.

    India and the United States are likely to make a final decision on a mini trade deal in the next 24 to 48 hours, local Indian news channel CNBC-TV18 reported on Sunday, with average tariffs of 10% on Indian goods shipped to the U.S., it said.

    Hassett told CBS News that framework agreements already reached with Britain and Vietnam offered guidelines for other countries. He said Trump’s pressure was prompting countries to move production to the United States.

    The Vietnam deal was “fantastic,” Miran said.

    “It’s extremely one-sided. We get to apply a significant tariff to Vietnamese exports. They’re opening their markets to ours, applying zero tariff to our exports.”

    (Reuters)

  • MIL-OSI New Zealand: EIT student overcomes family loss and hardship to complete Bachelor of Business Studies

    Source: Eastern Institute of Technology

    7 minutes ago

    When Shelby Te Aho withdrew from her Bachelor of Business Studies at EIT due to family loss and financial hardship, she was not sure she would ever return.

    The 23-year-old had already completed two and a half years of study before leaving in 2022 to support her whānau.

    “I had some family members pass away in 2022, and my family was also struggling financially so I needed to leave and start working to help out,” says Shelby (Ngāti Porou). “It wasn’t an easy decision to leave, but at the time it was what I had to do.”

    Shelby Te Aho (Ngāti Porou) graduated with her Bachelor of Business Studies at EIT this year.

    Although she initially thought she had failed, Shelby says the idea of finishing her degree returned over time.

    “I really didn’t think I’d go back. I felt like I’d failed. But over time I kept thinking about it. I had already put in so much effort, and eventually I built up the courage to email my lecturer Russell and ask if there was any way I could finish.”

    With support from EIT and its Recognition of Prior Learning (RPL) process, Shelby was able to complete the final component of her qualification – an internship. This was based on her role and experience at Lineage Logistics in Whakatū, where she continues to work managing frozen export container logistics

    Instead of a formal graduation, Shelby marked the moment with a private celebration on campus.

    EIT graduate Shelby Te Aho with Bachelor of Business Studies Programme Co-ordinator Russell Booth.

    “It was perfect. I preferred it that way.”

    The former Hastings Girls’ High School student is the first in her family to earn a degree.

    “I’ve always dreamed of owning a bakery or clothing business. Studying business felt like the right step, and I’m proud I came back and finished it.”

    She says it feels good to show her two younger siblings what is possible.

    “It feels great. I always think about it. But as the oldest, I am glad to be able to show my siblings that you can do whatever you dream.”

    Shelby says she loved her time at EIT and would recommend the programme to others.

    “I loved my time at EIT. Russell was my favourite lecturer, but all the lecturers were great. They really want to see students win in life. I also enjoyed the marketing aspect of the degree, especially the practicals. They were really cool.”

    Her message to others is simple.

    “Do not be afraid to come back and keep pursuing what you want. You can still chase your dreams, even if there are challenges.”

    Russell Booth, Programme Co-ordinator for the Bachelor of Business Studies at EIT, says he was “absolutely thrilled” when Shelby contacted him again to enquire about completing her internship and finally her BBS.

    “Even though it had been a couple of years, she was an excellent candidate for the RPL process. Shelby impressed us with the work she had been doing at Lineage over the last two years, and the responsibility Lineage had given her. This is a fabulous achievement for a young woman who always works hard. We all believe in the School of Business here at EIT that Shelby will go far and realise her dreams for sure.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Export Awards – Finalists Announced for 2025 ExportNZ ASB Hawke’s Bay Export Awards

    Source: Business Central

    Finalists Announced for 2025 ExportNZ ASB Hawke’s Bay Export Awards
    Hawke’s Bay exporters are being recognised for their excellence with today’s announcement of the finalists for the ExportNZ ASB Hawke’s Bay Export Awards.
    In a time of substantial global volatility, ExportNZ is proud to recognise just some of the amazing exporters who continue to innovate and succeed in the global market.
    The awards celebrate high calibre exporters from Hawke’s Bay up to the southern tip of Gisborne and are awarded annually.
    Finalists for 2025 were selected from a wide field of entries, with an expert panel of judges assessing their success across a wide range of categories. The winners of each individual award category will automatically go in the running for the supreme award of the night, the ExportNZ ASB Hawke’s Bay Exporter of the Year.
    Judges have lauded the creativity and quality of this year’s finalists, highlighting their innovation, strategy and global growth.
    ASB’s Head of International Trade, Mike Atkins said it was exciting to see this year’s finalists covered a mix of businesses from the Food & Fibre sector along with Productive Manufacturing:
    “We are extremely proud to enter our eleventh year of celebrating some of the country’s most innovative and inspiring companies and the achievements of the Hawke’s Bay export sector. It was particularly inspiring to see the level of innovation being adopted, including some world firsts,” said Atkins.
    Congratulations to all this year’s finalists and award winners – the region should be proud of these amazing achievements.”
    This year’s category finalists are:
    ContainerCo Emerging Business Award
    – Ovenden Seeds Limited
    – Six Barrel Soda
    – Haumako
    – Bayleaf Organics
    T&G Global Best Established Business Award
    – ABB
    – Apollo Foods
    – Starboard Bio Limited
    Ziwi Excellence in Innovation Award
    – Norsewear
    – King Bees
    – ABB
    – Starboard Bio Limited
    – Apollo Foods
    The Judges’ Choice Award, NZME Service to Export Award and Napier Port Unsung Heroes Award will be announced on the night – as will this year’s supreme prize, ASB Exporter of the Year.
    Winners of each category will also go on to the final stage of the New Zealand Trade & Enterprise (NZTE) International Business Awards, held in Auckland on November 11 th.
    ExportNZ Hawke’s Bay Executive Officer Amanda Liddle applauded all the efforts of the finalists and the exporting community.
    “There’s no denying that the past few years have been challenging for exporters. Yet, time and again, our exporters have not only persevered but outperformed on the global stage-a true testament to their resilience, quality, and determination,” said Liddle.
    “Amid ongoing global uncertainty, it’s more important than ever to pause and celebrate their achievements. ExportNZ is proud to stand behind our exporters-driving economic growth, lifting national pride, and showcasing New Zealand to the world.”
    “This night would not be possible without the support of our category sponsors and our family sponsors. A special thank you to New Zealand Trade and Enterprise, Hastings District Council, Napier City Council, Hawke’s Bay Airport and Craggy Range Winery. Congratulations to all the finalists.”
    Gala Dinner and Winners Announcement
    The winners in each category will be revealed during the upcoming Gala Dinner and Awards night on July 31st, at the Toitoi Hawke’s Bay Arts and Event Centre. Tickets for the event are available for purchase here: https://exportnz.org.nz/event/exportnz-asb-hawkes-bay-export-awards-2025/
    Notes:
    ExportNZ Hawke’s Bay is overseen by Business Central, which represents around 3,500 organisations across the lower North Island. Business Central offers advice, learning, advocacy, and support to a wide range of organisations across Central New Zealand. Business Central is part of the BusinessNZ Network.
    Tickets to the event go on sale today on the Export NZ website: https://exportnz.org.nz

    MIL OSI New Zealand News –

  • MIL-OSI United Kingdom: Brian Cox CBE and Radek Rudnicki to receive honorary degrees Abertay graduation

    Source: University of Abertay

    A world-renowned Scottish actor and a pioneering sound artist will be awarded Honorary Degrees at Abertay University’s summer graduation ceremony later this month.  

    Dundee-born Hollywood star Brian Cox CBE will be recognised for his contribution to the performing arts over the last 50 years, while Radek Rudnicki will be honoured for his innovative work in new media and spatial sound.  

    The ceremony will take place on Friday 11 July at Caird Hall in Dundee, where over 400 graduates from Abertay’s academic schools will gather to celebrate the culmination of their studies.

    Photo credit: Jakub Hader

    Graduates from Abertay’s academic faculties – the Faculty of Design and Informatics and Business, the Faculty of Social and Applied Sciences, and the Graduate School – will be joined by friends, family, and members of the University leadership team, including Chancellor Professor Alice Brown and Vice-Chancellor Professor Liz Bacon, for a memorable day of celebration. 

    Professor Liz Bacon, Principal and Vice-Chancellor, said:

    Graduation is one of the most memorable days in the university calendar, and this summer we’re thrilled to celebrate not only our talented students but also two outstanding individuals whose careers represent the very best of creativity, innovation and dedication. We’re delighted to welcome Brian Cox and Radek Rudnicki to the Abertay community and to honour their extraordinary achievements.

    Brian Cox began his acting career in 1961 at Dundee Repertory Theatre, going on to become a founding member of the Royal Lyceum Theatre in Edinburgh. With a stage and screen career spanning more than six decades, his breakthrough Hollywood role came in 1986’s Manhunter and has since appeared in films such as Braveheart, Adaptation, The Bourne Identity, Troy, 25th Hour and X2: X-Men United, an iconic portrayal of the much-loved Dundee comedy character Bob Servant, and most recently in the award-winning HBO drama Succession. He has received two BAFTAs, an Emmy, and a Golden Globe, and remains deeply connected to his theatrical roots, including a forthcoming return to the Dundee Rep stage in Make It Happen.

    Radek Rudnicki is a new media artist, composer, and sound designer whose work blends spatial audio and immersive storytelling. Currently the lead sound designer for the Precyzja Foundation and director of Wave Folder Records, Radek’s digital studio develops cutting-edge experiences showcased around the world. His career includes collaborations with NASA’s Goddard Institute and the Stockholm Environment Institute, and partnerships with hardware synthesizer manufacturers like Waldorf, Elektron and Cwejman. His accolades include the Emerging Excellence Award, the Provost Award for World-Class Excellence in Research. 

    MIL OSI United Kingdom –

  • MIL-OSI Economics: New Development Bank’s Board of Governors Convened its 10th Annual Meeting in Rio de Janeiro

    Source: New Development Bank

    On July 5, 2025, the Board of Governors (Board, BoG) of the New Development Bank (NDB) convened the Business Session of its Tenth Annual Meeting in Rio de Janeiro, Brazil, under the theme of “Driving Development: Fostering Innovation, Cooperation, and Impact through a Multilateral Development Bank for the Global South”.

    The BoG Meeting was chaired by H.E. Mr. Fernando Haddad, the Minister of Finance of the Federative Republic of Brazil and the NDB Governor for Brazil.

    The Board welcomed the achievements of NDB in the past year and provided guidance in steering the New Development Bank towards a path of sustainable growth in the future at the juncture of its Ten-year Anniversary.

    The Board of Governors officially admitted Colombia and Uzbekistan as borrowing members of the New Development Bank.

    The Board of Governors discussed the General Strategy of the Bank and its implementation and provided guidance thereon.

    The Board of Governors adopted its resolution on appointment of incoming Vice-President of the New Development Bank. Mr. Roman Serov was appointed as Vice-President of NDB from September 7, 2025, to September 6, 2030.

    The Board elected H.E. Mr. Anton Siluanov, the Minister of Finance of the Russian Federation and the NDB Governor for Russia as the next Chairperson of the Board of Governors. H.E. Mrs. Nirmala Sitharaman, the Minister of Finance of the Republic of India and the NDB Governor for India was elected as the next Vice-Chairperson of the Board of Governors. It was agreed that they would hold their respective offices until the end of the Eleventh Annual Meeting of the Board of Governors in 2026.

    The Board of Governors decided that Russia will host the Eleventh Annual Meeting of the New Development Bank in 2026.

    H.E. Mr. Anton Siluanov, the Minister of Finance of the Russian Federation and the NDB Governor for Russia; H.E. Mrs. Nirmala Sitharaman, the Minister of Finance of the Republic of India and the NDB Governor for India; H.E. Mr. LAN Fo’an, the Minister of Finance of the People’s Republic of China and the NDB Governor for China; Dr. David Masondo, Deputy Minister of Finance of the Republic of South Africa and the NDB Alternate Governor for South Africa; Mr. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, Ministry of Finance of the People’s Republic of Bangladesh and the NDB Alternate Governor for Bangladesh; Mr. Mr. Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs and the NDB Governor for the United Arab Emirates; Mr. Atter Hannoura, Director of the PPP Central Unit, Ministry of Finance of Egypt of the Arab Republic of Egypt and the NDB Temporary Alternate Governor for Egypt, participated in the Meeting.

    Background Information

    New Development Bank was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.

    For more information on NDB, please visit www.ndb.int.

    MIL OSI Economics –

  • BRICS expands footprint, eyes stronger Global South cooperation under Brazil’s 2025 chairship

    Source: Government of India

    Source: Government of India (4)

    The BRICS grouping, which brings together major emerging economies, has continued to expand its global footprint, adding new members and partners while outlining ambitious plans to deepen cooperation across sectors under Brazil’s ongoing chairship in 2025.

    Originally coined as BRIC by Goldman Sachs in 2001 in its paper The World Needs Better Economic BRICs, the acronym referred to Brazil, Russia, India and China, which the firm projected would occupy larger shares of the global economy in the coming decades. The idea took formal shape in 2006, when the leaders of Russia, India and China met on the sidelines of the G8 Outreach Summit in St. Petersburg. That same year, the first BRIC Foreign Ministers’ meeting was held alongside the UN General Assembly in New York, setting the stage for structured dialogue.

    The first BRIC Summit was hosted in Yekaterinburg, Russia, in 2009. The group became BRICS with the inclusion of South Africa in 2010. South Africa formally joined the third BRICS Summit held in Sanya in 2011.

    More than a decade later, the bloc witnessed its most significant expansion yet. In January 2024, Egypt, Ethiopia, Iran and the United Arab Emirates became full members, followed by Indonesia’s entry as a full member in January 2025. Nine other countries — Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda and Uzbekistan — were inducted as BRICS partner countries this year, underlining the group’s growing influence in the Global South.

    Together, the expanded BRICS now represents nearly half of the world’s population, contributes about 40 percent of global GDP, and accounts for roughly a quarter of global trade.

    Two pillars of cooperation

    BRICS functions through two broad mechanisms: consultations on issues of common interest through summits and ministerial meetings, and practical cooperation through working groups and senior officials in sectors such as trade, finance, health, education, science and technology, agriculture, environment, energy, labour, disaster management, anti-corruption and counter-narcotics efforts.

    Business linkages are promoted through the BRICS Business Council and the BRICS Women Business Alliance, while other exchanges span parliamentary forums, conferences and people-to-people initiatives.

    India’s 2021 chairship

    India last held the chairship in 2021, coinciding with the 15th anniversary of the bloc. Operating under the theme ‘BRICS@15: Intra-BRICS Cooperation for Continuity, Consolidation and Consensus’, India set priorities that focused on multilateral reform, counter-terrorism cooperation, digital tools for Sustainable Development Goals and wider people-to-people engagement.

    Over 150 meetings were convened during India’s term, including the Leaders’ Summit held virtually on September 9, 2021, and meetings of Foreign Ministers, National Security Advisers and key sectoral ministers. Several new initiatives were launched, including the first BRICS Digital Health Summit, the first Water Ministers’ Meeting, the adoption of a Counter-Terrorism Action Plan, the launch of the BRICS Alliance for Green Tourism and the signing of an agreement on a BRICS Remote Sensing Satellite Constellation.

    Brazil takes charge in 2025

    Brazil assumed the BRICS chairship on January 1, 2025, under the theme ‘Strengthening Global South Cooperation for More Inclusive and Sustainable Governance’. Brazil’s agenda focuses on deepening partnerships within the Global South and enhancing social, economic and environmental development across member states.

    The priorities for Brazil’s presidency include cooperation on global health, trade, investment and finance, climate change action, governance of artificial intelligence, institutional development and a push for reform of the global peace and security architecture.

    Nearly 120 events are planned under Brazil’s chairship this year, signalling the group’s intent to maintain momentum on issues that resonate with emerging economies.

  • MIL-OSI Analysis: Workplaces have embraced mindfulness and self-compassion — but did capitalism hijack their true purpose?

    Source: The Conversation – Canada – By Yasemin Pacaci, Postdoctoral Fellow, Smith School of Business, Queen’s University, Ontario

    When practiced with integrity, mindfulness and self-compassion can improve the collective well-being and personal agency of employees. (Shutterstock)

    Mindfulness and self-compassion have become popular tools for improving mental health and well-being in the workplace. Mindfulness involves paying attention to thoughts, emotions and surroundings without judgment, much like watching clouds pass in the sky. This moment-to-moment awareness helps people respond skilfully rather than react automatically.

    Self-compassion builds on mindfulness by encouraging people to meet difficult feelings and experiences with kindness instead of resistance. In other words, mindfulness helps people first recognize their suffering, while self-compassion helps people respond with kindness.

    Both mindfulness and self-compassion can be practised formally through meditations like body scans, breath awareness or loving-kindness meditation, and informally by bringing mindful attention to mind, emotions and everyday activities.

    Both practices have the potential to transform dysfunctional workplaces by improving the collective well-being and personal agency of employees.

    Yet too often, these practices are introduced superficially to boost productivity and performance, rather than used to address the root causes of workplace stress. It’s a pattern I’ve witnessed repeatedly in my years as a mindfulness teacher and researcher.

    This brings into question whether these practices can thrive in capitalist systems that prioritize profit over people. But rather than rejecting mindfulness and self-compassion as incompatible with capitalism, I argue we need a more thoughtful framework that stays true to their essence while tackling common misunderstandings and misuses.

    How capitalism is co-opting mindfulness

    Academic and practitioner critics have raised concerns about how mindfulness and self-compassion practices are being integrated into corporate life.

    Some of these critics argue that companies are incorporating mindfulness and self-compassion practices not to fix systemic problems, but to boost their own productivity and shift the responsibility for stress onto employees.

    In these cases, critics use the term “McMindfulness” to describe a commodified, diluted version of mindfulness that is stripped of its roots in Buddhist philosophy.

    If organizations want to reap the full benefits of mindfulness and self-compassion, they need to take a more deliberate, systemic approach.
    (Unsplash/Redd Francisco)

    Some critics have gone further, claiming that mindfulness encourages contentment with the status quo and may make employees more vulnerable to exploitation.

    While these critiques raise valid concerns, they often create more confusion and resistance than meaningful dialogue or practical solutions for implementing mindfulness and self-compassion in the workplace.

    Empirical research offers a more nuanced perspective. Mindfulness and self-compassion, when practised consistently, can strengthen employees’ sense of agency, improve their self-confidence, support ethical decision-making and action for meaningful change.

    Done right, mindfulness can help workers

    Employees who develop mindfulness and self-compassion skills tend to respond in three main ways, according to research.

    First, they become more aware of dysfunction in the workplace. This awareness can empower them to speak up and advocate for change if it’s within their control and in their own interest. It can also cause them to engage in more ethical practices, especially in toxic work environments.

    Second, they are more likely to leave toxic work environments. When employees realize change is beyond their control, mindfulness and self-compassion can cause them to lose their motivation for work and, indirectly, might prompt them to leave toxic workplaces altogether.

    Third, for employees who end up staying in their roles, they are better able to acknowledge and become less effected by stressors. However, this doesn’t mean they become more productive or blindly enthusiastic about their jobs. Mindfulness enhances motivation that stems from genuine interest, not from pressure or obligation.

    It’s important to note that mindfulness doesn’t mean these employees condone poor conditions or toxic practices. Rather, it helps them see reality more clearly, without denial or avoidance.

    And for employers hoping mindfulness will instantly boost engagement or drive performance, research shows employees may actually become more critical of their work and less willing to perform mundane tasks.

    Towards true workplace transformation

    Mindfulness alone cannot fix a toxic workplace. When organizations introduce mindfulness programs without first addressing the underlying causes of stress or toxicity, they’re unlikely to see the results they expect.

    If organizations want to reap the full benefits of mindfulness and self-compassion, they need to take a more deliberate, structured approach. Psychologist Kurt Lewin’s three-step change management model offers a useful guide:

    Step 1. Unfreeze: Address the root causes of workplace stress

    • Address systemic stressors. Before introducing any well-being initiative, organizations must confront actual sources of stress such as excessive workloads, toxic leadership and job insecurity.
    • Correct misunderstandings. Clarify what mindfulness and self-compassion actually is to reduce scepticism and confusion.
    • Avoid mandatory participation. Giving employees the freedom to opt in fosters authentic engagement and sustains interest.
    Without addressing the systemic causes of stress, mindfulness practices can prove ineffective.
    (Shutterstock)

    Step 2. Change: Implement practices ethically and intentionally

    • Lead by example at the top. Instead of only offering these programs to employees, leaders should engage with mindfulness and self-compassion practices themselves. When senior figures lead by example, these programs gain legitimacy and workplaces foster more ethical, people-centered leadership that goes beyond performance and productivity.
    • Ensure cultural sensitivity. Small cultural adaptations can improve the inclusion of mindfulness and self-compassion sessions. For instance, research has found that in Hispanic communities, using familiar stories or proverbs can make mindfulness sessions more relatable and improve engagement.
    • Preserve ethical foundations. Present mindfulness and self-compassion as universal practices, not tied to any one religion. This preserves their ethical underpinnings while ensuring they remain universal and accessible to all.

    Step 3. Freeze: Embed mindfulness and self-compassion into workplace culture

    • Encourage small, daily practices. Offer simple tools like journaling or mindful breathing breaks that employees can tailor to their own needs and schedules.
    • Provide ongoing support. Create time and space for continued practice, such as guided meditations, mindfulness moments in meetings or gratitude boards so new habits take root.
    • Measure impact holistically. Consider hiring qualified professionals to evaluate program effectiveness, address emerging needs and keep the organization moving forward.

    Moving beyond wellness window-dressing

    Mindfulness and self-compassion are not magic bullets, but they can still be powerful catalysts for change.

    When introduced with a deliberate and thoughtful approach, mindfulness and self-compassion can help workplaces move beyond shallow wellness “hacks” toward truly transformative practices, even in high-pressure, profit-driven environments.

    Far from serving as a quick fix or a mere productivity tool, these practices encourage employees to challenge the status quo, take meaningful action, build healthier relationships and make more ethical decisions. They can help individual employees flourish within and beyond their workplaces.

    The true value of mindfulness and self-compassion practices lies not in short-term outcomes or surface-level improvements, but in helping individuals be more aware of themselves, their surroundings and the choices they make, which is beyond any outcome or context.

    Yasemin Pacaci does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Workplaces have embraced mindfulness and self-compassion — but did capitalism hijack their true purpose? – https://theconversation.com/workplaces-have-embraced-mindfulness-and-self-compassion-but-did-capitalism-hijack-their-true-purpose-258043

    MIL OSI Analysis –

  • MIL-OSI Analysis: Workplaces have embraced mindfulness and self-compassion — but did capitalism hijack their true purpose?

    Source: The Conversation – Canada – By Yasemin Pacaci, Postdoctoral Fellow, Smith School of Business, Queen’s University, Ontario

    When practiced with integrity, mindfulness and self-compassion can improve the collective well-being and personal agency of employees. (Shutterstock)

    Mindfulness and self-compassion have become popular tools for improving mental health and well-being in the workplace. Mindfulness involves paying attention to thoughts, emotions and surroundings without judgment, much like watching clouds pass in the sky. This moment-to-moment awareness helps people respond skilfully rather than react automatically.

    Self-compassion builds on mindfulness by encouraging people to meet difficult feelings and experiences with kindness instead of resistance. In other words, mindfulness helps people first recognize their suffering, while self-compassion helps people respond with kindness.

    Both mindfulness and self-compassion can be practised formally through meditations like body scans, breath awareness or loving-kindness meditation, and informally by bringing mindful attention to mind, emotions and everyday activities.

    Both practices have the potential to transform dysfunctional workplaces by improving the collective well-being and personal agency of employees.

    Yet too often, these practices are introduced superficially to boost productivity and performance, rather than used to address the root causes of workplace stress. It’s a pattern I’ve witnessed repeatedly in my years as a mindfulness teacher and researcher.

    This brings into question whether these practices can thrive in capitalist systems that prioritize profit over people. But rather than rejecting mindfulness and self-compassion as incompatible with capitalism, I argue we need a more thoughtful framework that stays true to their essence while tackling common misunderstandings and misuses.

    How capitalism is co-opting mindfulness

    Academic and practitioner critics have raised concerns about how mindfulness and self-compassion practices are being integrated into corporate life.

    Some of these critics argue that companies are incorporating mindfulness and self-compassion practices not to fix systemic problems, but to boost their own productivity and shift the responsibility for stress onto employees.

    In these cases, critics use the term “McMindfulness” to describe a commodified, diluted version of mindfulness that is stripped of its roots in Buddhist philosophy.

    If organizations want to reap the full benefits of mindfulness and self-compassion, they need to take a more deliberate, systemic approach.
    (Unsplash/Redd Francisco)

    Some critics have gone further, claiming that mindfulness encourages contentment with the status quo and may make employees more vulnerable to exploitation.

    While these critiques raise valid concerns, they often create more confusion and resistance than meaningful dialogue or practical solutions for implementing mindfulness and self-compassion in the workplace.

    Empirical research offers a more nuanced perspective. Mindfulness and self-compassion, when practised consistently, can strengthen employees’ sense of agency, improve their self-confidence, support ethical decision-making and action for meaningful change.

    Done right, mindfulness can help workers

    Employees who develop mindfulness and self-compassion skills tend to respond in three main ways, according to research.

    First, they become more aware of dysfunction in the workplace. This awareness can empower them to speak up and advocate for change if it’s within their control and in their own interest. It can also cause them to engage in more ethical practices, especially in toxic work environments.

    Second, they are more likely to leave toxic work environments. When employees realize change is beyond their control, mindfulness and self-compassion can cause them to lose their motivation for work and, indirectly, might prompt them to leave toxic workplaces altogether.

    Third, for employees who end up staying in their roles, they are better able to acknowledge and become less effected by stressors. However, this doesn’t mean they become more productive or blindly enthusiastic about their jobs. Mindfulness enhances motivation that stems from genuine interest, not from pressure or obligation.

    It’s important to note that mindfulness doesn’t mean these employees condone poor conditions or toxic practices. Rather, it helps them see reality more clearly, without denial or avoidance.

    And for employers hoping mindfulness will instantly boost engagement or drive performance, research shows employees may actually become more critical of their work and less willing to perform mundane tasks.

    Towards true workplace transformation

    Mindfulness alone cannot fix a toxic workplace. When organizations introduce mindfulness programs without first addressing the underlying causes of stress or toxicity, they’re unlikely to see the results they expect.

    If organizations want to reap the full benefits of mindfulness and self-compassion, they need to take a more deliberate, structured approach. Psychologist Kurt Lewin’s three-step change management model offers a useful guide:

    Step 1. Unfreeze: Address the root causes of workplace stress

    • Address systemic stressors. Before introducing any well-being initiative, organizations must confront actual sources of stress such as excessive workloads, toxic leadership and job insecurity.
    • Correct misunderstandings. Clarify what mindfulness and self-compassion actually is to reduce scepticism and confusion.
    • Avoid mandatory participation. Giving employees the freedom to opt in fosters authentic engagement and sustains interest.
    Without addressing the systemic causes of stress, mindfulness practices can prove ineffective.
    (Shutterstock)

    Step 2. Change: Implement practices ethically and intentionally

    • Lead by example at the top. Instead of only offering these programs to employees, leaders should engage with mindfulness and self-compassion practices themselves. When senior figures lead by example, these programs gain legitimacy and workplaces foster more ethical, people-centered leadership that goes beyond performance and productivity.
    • Ensure cultural sensitivity. Small cultural adaptations can improve the inclusion of mindfulness and self-compassion sessions. For instance, research has found that in Hispanic communities, using familiar stories or proverbs can make mindfulness sessions more relatable and improve engagement.
    • Preserve ethical foundations. Present mindfulness and self-compassion as universal practices, not tied to any one religion. This preserves their ethical underpinnings while ensuring they remain universal and accessible to all.

    Step 3. Freeze: Embed mindfulness and self-compassion into workplace culture

    • Encourage small, daily practices. Offer simple tools like journaling or mindful breathing breaks that employees can tailor to their own needs and schedules.
    • Provide ongoing support. Create time and space for continued practice, such as guided meditations, mindfulness moments in meetings or gratitude boards so new habits take root.
    • Measure impact holistically. Consider hiring qualified professionals to evaluate program effectiveness, address emerging needs and keep the organization moving forward.

    Moving beyond wellness window-dressing

    Mindfulness and self-compassion are not magic bullets, but they can still be powerful catalysts for change.

    When introduced with a deliberate and thoughtful approach, mindfulness and self-compassion can help workplaces move beyond shallow wellness “hacks” toward truly transformative practices, even in high-pressure, profit-driven environments.

    Far from serving as a quick fix or a mere productivity tool, these practices encourage employees to challenge the status quo, take meaningful action, build healthier relationships and make more ethical decisions. They can help individual employees flourish within and beyond their workplaces.

    The true value of mindfulness and self-compassion practices lies not in short-term outcomes or surface-level improvements, but in helping individuals be more aware of themselves, their surroundings and the choices they make, which is beyond any outcome or context.

    Yasemin Pacaci does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Workplaces have embraced mindfulness and self-compassion — but did capitalism hijack their true purpose? – https://theconversation.com/workplaces-have-embraced-mindfulness-and-self-compassion-but-did-capitalism-hijack-their-true-purpose-258043

    MIL OSI Analysis –

  • MIL-OSI Analysis: University leaders have to make sense of massive disruption — 4 ways they do it

    Source: The Conversation – Canada – By Daniel Atlin, Adjunct Professor, Gordon S. Lang School of Business, University of Guelph

    Trying to navigate an environment where massive disruption and unprecedented change is the norm presents a challenge for business leaders everywhere.

    Social-purpose, multi-stakeholder organizations like post-secondary institutions, hospitals, governments and NGOs are particularly affected.

    The practice of “sense-making” — making sense of the situations people find themselves in, in the words of organizational theorist Karl Weick — offers an innovative and timely framework that can help social-purpose leaders address complexity.

    Senior post-secondary leaders study

    Management experts have described sense-making as the key skill needed in an age of disruption. This has been confirmed through my research while completing a master’s degree in change leadership.

    I interviewed more than two dozen senior leaders in complex organizations in Canada, the United Kingdom, Australia and New Zealand — the majority of whom were in the post-secondary sector. I found the leaders I interviewed were intuitively using elements from Weick’s organizational sense-making framework.

    As one leader shared:

    “The first thing you need to do is to recognize that it’s your role to help the rest of your community make sense of what’s happening around you. It’s something that I take very seriously.”

    Deborah Ancona, professor of management at MIT, says:

    “Sense-making is most often needed when our understanding of the world becomes unintelligible in some way. This occurs when the environment is changing rapidly, presenting us with surprises for which we are unprepared or confronting us with adaptive, rather than technical problems to solve.”

    Leading in ‘age of outrage’

    Social-purpose organizations face common issues such as a lack of funding, system fragmentation, competing stakeholders, new entrants and the challenges of emerging technologies.

    They are also at the centre of what business and public policy professor Karthik Ramana describes as “the age of outrage,” reflected in heightened polarization. Against this backdrop, it’s increasingly challenging to attract and retain leaders.

    I heard from leaders who felt they didn’t have the proper training for the job or support once they started their roles. In part, this is because few of them, including those involved in their hiring, seem to realize the actual messiness inherent within their organizations.

    This brings to mind the parable that writer David Foster Wallace used in his 2005 convocation speech at Kenyon College, in which two young fish are told by an older fish that they are swimming in water. One of the young fish then turns to the other in surprise and says: “What is water anyway?”

    Lack of agency

    I heard from various leaders who experienced an “aha” moment when they realized they were immersed within a fluid and dynamic organizational environment that they were expected to run like a traditional business. This realization gave them a framework to understand the lack of agency they often experienced.

    The challenge with social-purpose organizations is that they’re complex adaptive systems in which individual interactions form an ever-changing array of networks generating emergent behaviours that are often unpredictable. Complex adaptive systems also tend to revert to the status quo when faced with change.

    So how do social-purpose leaders navigate change and this challenging organizational context? They wrap their efforts around purpose. It’s an anchor point and unifying focus for leaders, teams and all stakeholders.

    4 strategies

    Based on my research, I’ve identified four main sense-making strategies that leaders use:

    Exploration and map-making: These pursuits help leaders extract a steady flow of information and data from their interactions both inside and outside their organizations. This allows them to develop high-level, adaptive frameworks that are constantly in flux — similar to Google Maps, as it generates live snapshots of traffic flows and suggested routes.

    Storytelling and narrative development: Leaders use storytelling and narrative development to project ideas, purposes and visions into the future. This allows them to connect emotionally and inspire people and communities. Recognizing their role as storyteller-in-chief can align disparate parts of an organization into a coherent and engaged whole.

    Invention and improvisation: These are employed by leaders to test assumptions as they learn what works and what doesn’t. This approach allows them to respond in real time to the never-ending flow of new information. Without taking risks, leaders are at risk of being stuck in paralysis.

    Adaptation and collaboration allows leaders to help their organizations remain relevant. Leaders spoke about the need to foster adaptation. They also stressed the need to attract new resources through collaboration across like-minded institutions, governments, funding partners and the private sector.

    Embracing a sense-making mindset

    Thinking that benefits the interests and perspectives of the total enterprise is a critical but challenging task for leaders in social- purpose organizations.

    Time and energy — two scarce resources — are necessary to build aligned and high-performing teams and to break down silos. Team alignment cannot be achieved through the occasional team-building session, but requires an ongoing commitment and a well-articulated plan.

    Social-purpose organizations need practices, frameworks and metrics that are tailored to organizations’ unique needs. Rather than spending resources, time and energy on strategic plans, some leaders are building more flexible strategic frameworks or using strategic foresight to guide an innovative vision for the future.

    Leadership can be lonely

    It’s also important to remember that leadership can be lonely. To survive and thrive, social-purpose leaders must remember to seek out their own coaches and build communities of practice to enhance their lived experience and activities.

    Developing an outer shell to weather criticism also helps. While leaders can’t please everyone, sense-making leaders find strength and build endurance in the recognition that the roles they play are meaningful, satisfying and essential — not only within the organizations they serve but through the collective work their organizations accomplish in the world.

    Leaders (and board members) must realize that hiring the same people with the same profile as the past won’t make an organization ready for change, but instead reinforces the status quo.

    By recognizing the messiness of their organizations and using sense-making skills, leaders in social-purpose organizations have better odds of surviving the perils and challenges of massive disruption and unprecedented change.

    Daniel Atlin does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. University leaders have to make sense of massive disruption — 4 ways they do it – https://theconversation.com/university-leaders-have-to-make-sense-of-massive-disruption-4-ways-they-do-it-257866

    MIL OSI Analysis –

  • MIL-OSI: Personal Loans for Fair Credit Upto $5,000 Direct Lenders Guaranteed Approval By Loans At Last

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 06, 2025 (GLOBE NEWSWIRE) —

    As economic pressures continue to challenge U.S. households, many consumers with mid-tier credit scores are turning to personal loans for fair credit to manage unexpected expenses, consolidate debt, or fund necessary purchases. These loans provide structured repayment terms that may be more accessible than traditional financing while offering lower rates than high-cost subprime lending.

    >>> Applicants interested in exploring personal loan options can review lender >>>

    Fair credit, typically defined as a FICO score between 580 and 669, represents a large segment of the population. According to Experian, nearly 18% of Americans fall within this range. With inflation, rising housing costs, and medical bills straining household budgets, the demand for financial products tailored to this group is growing.

    A Federal Reserve report highlights that over 60% of Americans would struggle to cover a $400 emergency cost without borrowing or selling personal items. For borrowers with fair credit, personal loans provide an alternative to installment loans and payday loans, offering fixed monthly payments and clear terms.

    >>> Applicants interested in exploring personal loan options can review lender >>>

    Why Personal Loans for Fair Credit Are Increasingly Popular

    Borrowers with fair credit often find themselves in a unique position. Their credit scores may limit their access to the most favorable loan terms from traditional banks or credit unions, but they typically qualify for better options than those available to individuals with poor credit.

    Personal loans for fair credit are commonly used for:

    • Covering emergency medical expenses
    • Repairing or replacing essential household appliances
    • Addressing urgent car repairs
    • Managing unexpected travel for family needs
    •  Consolidating high-interest debt into a single monthly payment

    These loans offer predictability through fixed monthly installments, helping borrowers plan their budgets while addressing immediate financial needs.

    How Lenders Evaluate Personal Loan Applications for Fair Credit

    While a credit score is a factor, lenders offering personal loans to borrowers with fair credit often consider a wider range of criteria. This includes:

    • Income level: Demonstrating the ability to meet repayment obligations
    • Employment history: Stability of employment can influence loan offers
    • Debt-to-income ratio: Lenders assess existing obligations to ensure borrowers are not overextended
    • Length of credit history: A longer, positive credit history can work in a borrower’s favor

    This broader evaluation helps individuals with fair credit access personal loans with more favorable rates than subprime options, while still addressing lender risk.

    Market Trends Driving Interest in Personal Loans for Fair Credit

    Several trends contribute to the growing demand for personal loans for fair credit:

    Inflation and rising living costs: Essentials like rent, groceries, and utilities have increased in cost, leaving less room in household budgets for unexpected expenses.

    Credit card interest rates: With average credit card APRs climbing, many borrowers seek personal loans to consolidate balances and reduce monthly interest costs.

    Digital loan platforms: Technology has made loan comparison and application faster and easier. Borrowers can submit a single application and receive multiple loan offers online, without visiting physical branches.

    Desire for structured repayment: Borrowers often prefer the predictability of fixed-rate personal loans to variable-rate or revolving credit options.

    Common Borrowing Scenarios for Fair Credit Personal Loans

    Borrowers with fair credit often use personal loans for a range of purposes beyond emergency needs. Some common scenarios include:

    Home repairs: Replacing a malfunctioning furnace, repairing a roof, or addressing plumbing issues without turning to high-interest credit cards.

    Medical procedures: Funding dental work, minor surgeries, or treatments not fully covered by insurance.

    Moving expenses: Covering the cost of relocation for work or family reasons.

    Wedding or event costs: Financing large personal events that require lump-sum payments.

    Educational expenses: Paying for certifications, training programs, or educational materials not covered by student loans.

    These use cases reflect the versatility of personal loans as a tool for managing planned and unplanned expenses.

    Responsible Borrowing Practices for Fair Credit Loans

    Consumers exploring personal loans for fair credit are encouraged to take steps that support sound borrowing decisions:

    ✅ Review all loan terms carefully — Understand interest rates, fees, and the total cost of the loan over its term.

    ✅ Borrow only what is necessary — Taking out a larger loan than needed can increase repayment stress.

    ✅ Confirm lender licensing — Work only with lenders licensed to operate in your state, ensuring compliance with consumer protection laws.

    ✅ Plan for repayment — Ensure monthly payments fit within your budget to avoid late fees or credit score impact.

    While marketing language may suggest guaranteed approval or no-credit-check loans, reputable lenders typically conduct some level of review to ensure loans are offered responsibly.

    Regulatory Considerations in the Personal Loan Market

    Personal loans for fair credit fall under the oversight of both state and federal regulations designed to protect consumers. Lenders are required to:

    • Disclose all fees, rates, and repayment terms clearly
    • Avoid unfair or deceptive lending practices
    • Comply with fair lending laws that prohibit discrimination based on race, gender, or other protected characteristics

    Borrowers benefit from reviewing their rights under laws like the Truth in Lending Act (TILA) and the Equal Credit Opportunity Act (ECOA) when considering loan offers.

    The Role of Digital Lending Platforms

    Online platforms have transformed the personal loan market by giving borrowers the ability to submit a single application and compare multiple loan offers. These platforms connect borrowers with networks of licensed lenders offering loans suited to different credit profiles, including fair credit.

    Digital lending platforms help reduce application time and allow borrowers to evaluate options from the convenience of home. However, borrowers should still review each offer carefully to choose the one that best aligns with their financial needs.

    About Loans at Last

    Founded in 2018, Loans at Last is an online platform that connects U.S. consumers with licensed direct lenders offering personal loan options. The platform enables borrowers to explore loan solutions suited to their credit profiles, while emphasizing transparency, compliance, and borrower education

    Disclaimer

    Loans at Last is not a lender and does not make credit decisions. Loan terms, amounts, APRs, and conditions are determined by third-party lenders based on applicant qualifications and state law. Borrowers should review all terms carefully before accepting any offer.

    Final Thought

    As economic challenges persist, personal loans for fair credit remain an important option for individuals managing unexpected costs, consolidating debt, or financing planned purchases. By working with licensed lenders and reviewing loan terms carefully, borrowers can make informed decisions that support their financial well-being.

    Project Name: Loans At Last
    Registered Office Address: 1095 Sugar View Dr Ste 500 Sheridan, WY 82801
    Company Website: https://loansatlast.com/
    Email: smith@loansatlast.com
    Phone: 307-777-7311
    Contact person name: Smith
    contact person email: smith@loansatlast.com

    Attachment

    The MIL Network –

  • MIL-OSI: Personal Loans for Fair Credit Upto $5,000 Direct Lenders Guaranteed Approval By Loans At Last

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 06, 2025 (GLOBE NEWSWIRE) —

    As economic pressures continue to challenge U.S. households, many consumers with mid-tier credit scores are turning to personal loans for fair credit to manage unexpected expenses, consolidate debt, or fund necessary purchases. These loans provide structured repayment terms that may be more accessible than traditional financing while offering lower rates than high-cost subprime lending.

    >>> Applicants interested in exploring personal loan options can review lender >>>

    Fair credit, typically defined as a FICO score between 580 and 669, represents a large segment of the population. According to Experian, nearly 18% of Americans fall within this range. With inflation, rising housing costs, and medical bills straining household budgets, the demand for financial products tailored to this group is growing.

    A Federal Reserve report highlights that over 60% of Americans would struggle to cover a $400 emergency cost without borrowing or selling personal items. For borrowers with fair credit, personal loans provide an alternative to installment loans and payday loans, offering fixed monthly payments and clear terms.

    >>> Applicants interested in exploring personal loan options can review lender >>>

    Why Personal Loans for Fair Credit Are Increasingly Popular

    Borrowers with fair credit often find themselves in a unique position. Their credit scores may limit their access to the most favorable loan terms from traditional banks or credit unions, but they typically qualify for better options than those available to individuals with poor credit.

    Personal loans for fair credit are commonly used for:

    • Covering emergency medical expenses
    • Repairing or replacing essential household appliances
    • Addressing urgent car repairs
    • Managing unexpected travel for family needs
    •  Consolidating high-interest debt into a single monthly payment

    These loans offer predictability through fixed monthly installments, helping borrowers plan their budgets while addressing immediate financial needs.

    How Lenders Evaluate Personal Loan Applications for Fair Credit

    While a credit score is a factor, lenders offering personal loans to borrowers with fair credit often consider a wider range of criteria. This includes:

    • Income level: Demonstrating the ability to meet repayment obligations
    • Employment history: Stability of employment can influence loan offers
    • Debt-to-income ratio: Lenders assess existing obligations to ensure borrowers are not overextended
    • Length of credit history: A longer, positive credit history can work in a borrower’s favor

    This broader evaluation helps individuals with fair credit access personal loans with more favorable rates than subprime options, while still addressing lender risk.

    Market Trends Driving Interest in Personal Loans for Fair Credit

    Several trends contribute to the growing demand for personal loans for fair credit:

    Inflation and rising living costs: Essentials like rent, groceries, and utilities have increased in cost, leaving less room in household budgets for unexpected expenses.

    Credit card interest rates: With average credit card APRs climbing, many borrowers seek personal loans to consolidate balances and reduce monthly interest costs.

    Digital loan platforms: Technology has made loan comparison and application faster and easier. Borrowers can submit a single application and receive multiple loan offers online, without visiting physical branches.

    Desire for structured repayment: Borrowers often prefer the predictability of fixed-rate personal loans to variable-rate or revolving credit options.

    Common Borrowing Scenarios for Fair Credit Personal Loans

    Borrowers with fair credit often use personal loans for a range of purposes beyond emergency needs. Some common scenarios include:

    Home repairs: Replacing a malfunctioning furnace, repairing a roof, or addressing plumbing issues without turning to high-interest credit cards.

    Medical procedures: Funding dental work, minor surgeries, or treatments not fully covered by insurance.

    Moving expenses: Covering the cost of relocation for work or family reasons.

    Wedding or event costs: Financing large personal events that require lump-sum payments.

    Educational expenses: Paying for certifications, training programs, or educational materials not covered by student loans.

    These use cases reflect the versatility of personal loans as a tool for managing planned and unplanned expenses.

    Responsible Borrowing Practices for Fair Credit Loans

    Consumers exploring personal loans for fair credit are encouraged to take steps that support sound borrowing decisions:

    ✅ Review all loan terms carefully — Understand interest rates, fees, and the total cost of the loan over its term.

    ✅ Borrow only what is necessary — Taking out a larger loan than needed can increase repayment stress.

    ✅ Confirm lender licensing — Work only with lenders licensed to operate in your state, ensuring compliance with consumer protection laws.

    ✅ Plan for repayment — Ensure monthly payments fit within your budget to avoid late fees or credit score impact.

    While marketing language may suggest guaranteed approval or no-credit-check loans, reputable lenders typically conduct some level of review to ensure loans are offered responsibly.

    Regulatory Considerations in the Personal Loan Market

    Personal loans for fair credit fall under the oversight of both state and federal regulations designed to protect consumers. Lenders are required to:

    • Disclose all fees, rates, and repayment terms clearly
    • Avoid unfair or deceptive lending practices
    • Comply with fair lending laws that prohibit discrimination based on race, gender, or other protected characteristics

    Borrowers benefit from reviewing their rights under laws like the Truth in Lending Act (TILA) and the Equal Credit Opportunity Act (ECOA) when considering loan offers.

    The Role of Digital Lending Platforms

    Online platforms have transformed the personal loan market by giving borrowers the ability to submit a single application and compare multiple loan offers. These platforms connect borrowers with networks of licensed lenders offering loans suited to different credit profiles, including fair credit.

    Digital lending platforms help reduce application time and allow borrowers to evaluate options from the convenience of home. However, borrowers should still review each offer carefully to choose the one that best aligns with their financial needs.

    About Loans at Last

    Founded in 2018, Loans at Last is an online platform that connects U.S. consumers with licensed direct lenders offering personal loan options. The platform enables borrowers to explore loan solutions suited to their credit profiles, while emphasizing transparency, compliance, and borrower education

    Disclaimer

    Loans at Last is not a lender and does not make credit decisions. Loan terms, amounts, APRs, and conditions are determined by third-party lenders based on applicant qualifications and state law. Borrowers should review all terms carefully before accepting any offer.

    Final Thought

    As economic challenges persist, personal loans for fair credit remain an important option for individuals managing unexpected costs, consolidating debt, or financing planned purchases. By working with licensed lenders and reviewing loan terms carefully, borrowers can make informed decisions that support their financial well-being.

    Project Name: Loans At Last
    Registered Office Address: 1095 Sugar View Dr Ste 500 Sheridan, WY 82801
    Company Website: https://loansatlast.com/
    Email: smith@loansatlast.com
    Phone: 307-777-7311
    Contact person name: Smith
    contact person email: smith@loansatlast.com

    Attachment

    The MIL Network –

  • MIL-OSI Africa: President highlights investment opportunities at SA-Austria Business Forum

    Source: Government of South Africa

    President Cyril Ramaphosa has reaffirmed South Africa’s commitment to strengthening bilateral trade and investment ties with Austria, highlighting a range of mutually beneficial opportunities across key economic sectors.

    Speaking at the South Africa-Austria Business Forum in Pretoria on Friday, President Ramaphosa underscored the importance of deepening economic collaboration between the two countries.

    “It is my pleasure to address the South Africa-Austria Business Forum at this important time, as we seek to further deepen economic ties between our countries. 

    “Austria and South Africa enjoy strong bilateral trade and investment relations spanning energy, industrial technology, pharmaceuticals and vocational training,” he said.

    The President noted that trade between the two countries has been steadily increasing, with several Austrian companies operating in South Africa through direct investments, distribution, sales offices and service projects.

    “There are many more opportunities for investment by Austrian companies in South Africa. There are opportunities in areas such as renewable energy generation, agro-processing and component manufacturing opportunities. 

    “There are also opportunities in critical minerals beneficiations, pharmaceuticals, technology and innovation, among others,” President Ramaphosa said.

    South Africa, he said, is showing signs of recovery following recent economic challenges. The improvement in electricity supply and a moderation in inflation are among the encouraging signs.

    “We have embarked on a massive infrastructure drive, with key investments concentrated in energy, transport and logistics, water and sanitation, and digital infrastructure,” the President said.

    He detailed the role of the country’s Infrastructure Fund, which has mobilised blended financing to support major projects across several sectors. At the same time, structural reforms are being implemented to enhance the efficiency and competitiveness of energy and logistics sectors.

    As the global economy transitions towards greener alternatives, President Ramaphosa said South Africa is positioning itself as a front-runner in the green and digital economy.

    “South Africa has developed a regulatory framework to harness the potential of the hydrogen economy. We are actively developing an industrial plan to support the growth of electric vehicle and battery production,” he said. 

    This industrial strategy includes incentives for manufacturers, investment in charging infrastructure and localisation of components. It is supported by an enabling policy environment, including the expansion of special economic zones and active participation in the African Continental Free Trade Area (AfCFTA). 

    “Our special economic zones offer an internationally competitive value proposition with an attractive suite of incentives,” he noted.

    President Ramaphosa said the AfCFTA will remove trade barriers and unlock greater investment opportunities, particularly for Austrian businesses looking to enter new markets across the continent.

    “It will drive a wave of industrialisation and create dynamic regional value chains. This presents opportunities for Austrian businesses and investors,” he said.

    Highlighting South Africa’s role as an anchor in regional value chains, he said the country’s manufacturing sector sources inputs from across the continent, which are then exported as finished goods.

    South Africa also offers rich reserves of critical minerals for the energy transition, especially platinum group metals, giving it a competitive edge in producing sustainable energy technologies.

    Beyond investment, President Ramaphosa said, South African businesses are keen to explore Austrian opportunities, particularly in organic food markets, renewable energy, and supply chains across mining, automotive and other sectors.

    “There is high demand for our agricultural products in the EU, including high-quality South African wines and speciality foods like rooibos,” he said.

    On tourism, the President expressed the country’s desire to see more Austrian tourists visiting South Africa and vice versa, with a particular interest in eco, sports, and heritage tourism.

    He also welcomed the signing of a Memorandum of Understanding earlier in the day on technical and vocational training.

    “We want to learn from Austria on how to achieve the delicate balance between building the workforce of the future and growing the skills needed by the economy today,” President Ramaphosa said. 

    Closing his address, the President affirmed the South African government’s continued commitment to private sector collaboration as a catalyst for economic growth and job creation.

    “By working together with all social partners, we have embarked on a new era of growth, progress and inclusive, shared prosperity. I am confident that the engagements, discussions and networking sessions from this forum will yield great benefits for both South African and Austrian companies. 

    “It is clear from this Business Forum that there are abundant opportunities for even greater partnership, progress and shared prosperity,” he said. – SAnews.gov.za 

    MIL OSI Africa –

  • MIL-OSI Africa: African Energy Chamber (AEC) Reaffirms Support for West African Energy Summit (WAES) 2025 Delegation Heads to Aberdeen

    Source: APO

    The African Energy Chamber (AEC) (www.EnergyChamber.org) – the leading voice of Africa’s energy industry – is proud to reaffirm its support for the West African Energy Summit (WAES), scheduled for November 18-19, 2025, in Aberdeen, Scotland. In the lead-up to the event, NJ Ayuk, Executive Chairman, AEC, will visit Aberdeen on July 11 to speak at the OGV Taproom, where he will deliver a keynote address titled Opportunities in Africa – a strategic presentation tailored for the UK supply chain. 

    Organized in partnership with OGV Group, the WAES is positioned as a premier platform for catalyzing investment, technology transfer and cross-border collaboration between African energy makers and global service providers. Ayuk’s visit underscores the AEC’s commitment to cultivating robust energy partnerships between Africa and Europe, particularly in light of Africa’s dynamic oil, gas and energy transition landscape. 

    Ayuk’s July 11 appearance in Aberdeen will preview key themes from African Energy Week (AEW): Invest in African Energies 2025, the continent’s premier energy event organized by the AEC, which returns to Cape Town from September 29 to October 3, 2025. This year’s edition will host the G20 Africa Energy Investment Forum, highlighting Africa’s role in the global energy transition and providing a platform for project developers, financiers and service providers to shape the continent’s energy future. 

    WAES 2025 builds on the success of last year’s edition held in Ghana and will showcase some of the most lucrative energy opportunities across West Africa. This year’s event is co-hosted by the Scottish Africa Business Association, in collaboration with the Society of Petroleum Engineers, Energy Industries Council and the AEC. The two-day summit aims to highlight upstream development, emerging markets, technology deployment and decarbonization strategies that support Africa’s just energy transition. 

    West Africa continues to stand at the forefront of Africa’s energy renaissance, offering a wealth of opportunities for global investors, service providers and strategic partners. From deepwater oil exploration in Gabon and Equatorial Guinea to major LNG developments in Senegal and Mauritania, African nations are advancing ambitious strategies to monetize resources, attract investment and strengthen regional energy security. 

    These developments are underpinned by aggressive investment strategies, regulatory reforms and strengthened national oil company participation – creating a competitive environment for foreign capital and technology. As countries across the region seek to reverse production declines, fast-track new discoveries and drive regional energy integration, platforms like the WAES event are critical to forging the cross-border partnerships needed to realize Africa’s goals of energy security, economic growth and a just energy transition. 

    At the event, Ayuk will participate in the high-level Africa’s Opportunity for UK Supply Chain Engagement session, where he will provide actionable insights on the investment-ready landscape across key African markets such as Nigeria, Senegal, Angola, Namibia and Mozambique. He will also outline the AEC’s vision for inclusive growth, local content development and the importance of aligning global expertise with Africa’s long-term energy security goals.  

    “Africa’s energy future depends on strategic partnerships that deliver technology, capital and capacity building. The UK supply chain has a crucial role to play – not as outsiders, but as long-term partners invested in Africa’s growth and resilience,” states Ayuk. 

    The WAES event will provide an essential gateway for UK service companies to align with Africa’s energy ambitions – ranging from deepwater developments and LNG production to renewables and hydrogen deployment. By connecting global innovation with Africa’s resource wealth, the summit aims to unlock sustainable development, economic growth and greater energy access across the continent.  

    Distributed by APO Group on behalf of African Energy Chamber.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI: Shavez Ahmed Siddiqui Sets Global Benchmark with LQUIDPAY Deobank, Wins Top Fintech Honors in 2025

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, July 06, 2025 (GLOBE NEWSWIRE) — Shavez Ahmed Siddiqui, the visionary fintech entrepreneur and Founder & CEO of LQUIDPAY Deobank, is making waves across the global fintech and Web3 ecosystems. With two major accolades in 2025 — one from Entrepreneur Middle East in Dubai and another from Times of India Group in Lucknow — Siddiqui’s impact is now being recognized on both the international and domestic stage.

    His rise reflects a larger movement: the transformation of traditional banking into decentralized, borderless, and user-owned financial systems.

    From Global Acclaim to National Spotlight: 2025 Awards That Defined a Movement

    In May 2025, LQUIDPAY Deobank was awarded “Fintech Company of the Year” at the Leaders in E-Business Awards in Dubai. Just weeks later, Shavez Ahmed Siddiqui received the “Times Leadership Award 2025” in his hometown, Lucknow — solidifying his growing stature in India’s fintech landscape.

    These awards highlight Siddiqui’s transformative work in building digital financial infrastructure that is self-sovereign, compliant, and globally accessible.

    Award-Winning Innovation: What Makes LQUIDPAY Deobank a Game Changer

    LQUIDPAY Deobank is the world’s first decentralized on-chain bank, created to offer secure, borderless, and transparent financial services. With a strong emphasis on user sovereignty, it removes intermediaries and empowers users to manage their money freely, anywhere in the world.

    Key Innovations:

    • Self-Custodial Vaults for total asset control
    • Visa-Enabled Virtual & Physical Cards for global crypto spending
    • On-Chain Yield Savings (6–14% APY) backed by smart contracts
    • Crypto On/Off-Ramp for instant fiat access
    • ATM Withdrawals via PIN + NFC Cards (launching globally in 2025)
    • Enterprise API Access for Web3 fintech infrastructure

    These innovations are already unlocking access for users in Africa, Southeast Asia, and Latin America.

    Global Recognition: Fintech Company of the Year – Entrepreneur Middle East

    At the Leaders in E-Business Awards held in Dubai, LQUIDPAY Deobank was honored for creating decentralized financial tools that serve both individuals and enterprises. The award celebrates the company’s ability to merge compliance, speed, and decentralization under a single ecosystem.

    This positioned Shavez Ahmed Siddiqui as a global Web3 leader driving the evolution of finance.

    National Impact: Times Leadership Award 2025 – Lucknow, India

    On June 28, 2025, Siddiqui was awarded the Times Leadership Award 2025 in Lucknow by the Times of India Group — a powerful moment of homegrown recognition. This award not only honored his technological contributions but celebrated his commitment to India’s digital future.

    Official Publication: (https://coinmarketcap.com/community/articles/68625b36e0d38c65cf43de77/)

    “Receiving this award in Lucknow, the heart of India, reaffirms our mission to empower 1.4 billion people with financial freedom,” said Siddiqui on stage.

    The Vision and Mission Behind Siddiqui’s Fintech Movement

    At the core of Shavez Ahmed Siddiqui’s journey is a bold, human-centered vision.

    Vision

    To build a decentralized, borderless financial ecosystem where every individual — regardless of geography — can access, grow, and control their own financial future without reliance on centralized institutions.

    Mission

    To empower the world’s 1.4 billion unbanked through accessible, self-custodial, and blockchain-powered banking systems. Through platforms like LQUIDPAY Deobank, Siddiqui is enabling secure savings, global payments, and decentralized wealth creation for all.

    “Financial sovereignty should not be a privilege. It should be a default,” he often emphasizes.

    About Shavez Ahmed Siddiqui: Building the Future of Finance

    A self-taught technologist with 10+ years of blockchain expertise, Siddiqui is the mind behind several disruptive ventures:

    • LQUIDPAY Deobank (2024) – A decentralized bank offering crypto savings, Visa card payments, and DeFi-powered finance
    • Protocol Yield (2025) – A DeFi platform with daily profit sharing, AI-powered risk scoring (PY Score), and broker partners including Binance and Bybit
    • DODO (2023) – A gasless, index-based crypto trading platform
    • BTC20 Smart Chain (2022) – A high-speed blockchain with 65,000 TPS and over 17 million wallets

    Each initiative supports his broader goal of making finance secure, user-owned, and built for a decentralized future.

    Awards Timeline

    Date Award Title Presented By Location
    May 27, 2025 Fintech Company of the Year 2025 Entrepreneur Middle East Dubai
    June 28, 2025 Times Leadership Award 2025 Times of India Group Lucknow

    What’s Next: Scaling Financial Access for the World

    Looking ahead, Siddiqui and LQUIDPAY Deobank are focused on:

    • ATM withdrawals with crypto cards
    • Global market activation in Africa, LATAM, Asia and USA
    • Financial education for the underserved
    • Enterprise-grade DeFi tools for fintech partners
    • Mobile-first apps for next-gen banking

    Siddiqui’s next chapter is all about scaling secure, sovereign, and accessible finance for everyone, everywhere.

    Follow the Journey

    Website: www.lquidpay.finance
     Media Inquiries: admin@lquidpay.finance
    Learn More: www.shavezahmedsiddiqui.com

    Disclaimer: This press release is provided by LQUIDPAY Deobank. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9fb3bcec-f682-4e36-8746-a86f16c06fc7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1a66a0d9-a1ad-4084-a880-9d25e782ac65

    https://www.globenewswire.com/NewsRoom/AttachmentNg/153d222c-7a60-4167-b472-88f14c960b64

    The MIL Network –

  • MIL-OSI Asia-Pac: Speech by DSJ at International Symposium on Global Corporate Restructuring Center (English only) (with photo)

    Source: Hong Kong Government special administrative region

    Following are the opening remarks by the Deputy Secretary for Justice, Dr Cheung kwok-kwan, at the International Symposium on Global Corporate Restructuring Center today (July 6):

    The Honourable Professor Leung (Hong Kong Special Administrative Region (HKSAR) Deputy to the National People’s Congress, Member of the HKSAR Basic Law Committee of the Standing Committee of the National People’s Congress and Member of the Legislative Council, Professor Priscilla Leung) , Dr Sun Jin (Director-General of the International Organization for Mediation Preparatory Office), distinguished guests, ladies and gentlemen,

    Good morning. It is my honour to join this International Symposium on Global Corporate Restructuring Centre. We all know that today’s global economy is interconnected yet volatile. In order to maintain financial stability and investor confidence, we must keep abreast with market changes and cope with the need of cross-border businesses.
     
    Corporate restructuring is inherently a crucial strategic tool wielded in financial distress, which is vital for survival, renewal and resilience of the businesses. Indeed, successful restructuring preserves value of the businesses. Successful restructuring protects jobs of the employees. Successful restructuring instills confidence of the creditors. In short, successful corporate restructuring allows businesses to navigate adversity and becomes stronger for sustainable growth.

    Hong Kong is unique in the sense that it is the only common law jurisdiction in China and is deeply integrated with the Mainland market. It is therefore ideally positioned as a global centre for corporate restructuring. Now, I would like to outline how Hong Kong’s legal system delivers unparalleled advantages for business and investment, corporate restructuring and dispute resolution across Asia and beyond.

    The Foundation: “one country, two systems” and Common Law

    Hong Kong’s distinctiveness lies in the framework of “one country, two systems”, which preserves the common law system which is highly regarded by international community and reinforce our unique position to bridge the East and the West. This is not just theoretical – it translates into tangible expertise through our 13 000 solicitors and barristers, 560 Hong Kong lawyers licensed to practice in the Greater Bay Area (GBA), as well as 1 500 registered foreign lawyers, many of whom are multilingual and qualified in multiple jurisdictions. The accounting profession also plays a crucial role in corporate restructuring. We currently have over 6 500 establishments providing accounting, auditing and tax consultancy services. The Hong Kong Institute of Certified Public Accountants boasts a membership of over 47 000, who are recognised globally in such diverse places as Australia, Canada, England and Wales, South Africa etc. 

    What does this mean? When international investors face cross-border restructuring or insolvency, they can count on our professionals who master common law principles and international standard as well as the complexities of the Mainland market.

    Connectivity: Mutual Legal Assistance

    Such expertise is amplified by Hong Kong’s unmatched connectivity with the Mainland, offering effective pathways through nine mutual legal assistance arrangements in civil and commercial matters.

    Consider this: a European investor restructuring a Mainland-based joint venture could gain critical tools simply by choosing Hong Kong.

    Firstly, in assets preservation, businesses may obtain Mainland court orders to freeze assets or preserve evidence — a relief which is not available for arbitration seated in common law jurisdiction other than Hong Kong.

    Secondly, in direct enforcement: Businesses may enforce Hong Kong arbitral awards and court judgments in the Mainland, the coverage of which is the widest globally, including judgments on intellectual property rights which are not covered in international conventions. 

    Thirdly, streamlined restructuring and liquidation: A Hong Kong-appointed liquidator can access Mainland courts in Shenzhen, Shanghai and Xiamen to take control of the company’s assets and records in the Mainland, facilitating an effective corporate restructuring or at times, winding up.

    This seamless integration makes Hong Kong the optimal choice for business and investment and also cross-border restructuring with Mainland elements.

    Dispute Resolution: Arbitration and the New Era of Mediation

    Our advantages also extend to dispute resolution. The evidence is compelling — Hong Kong ranked globally number two as an arbitration seat under the 2025 Queen Mary University of London and White & Case International Arbitration Survey; last year, over 76 per cent of the cases handled by the Hong Kong International Arbitration Centre were international, with claims averaging HK$375 million, reflecting international trust in Hong Kong’s role in high-stakes cases.

    We recognise that modern challenges require diverse solutions, which is why we are promoting mediation in the Greater Bay Area. The recent establishment of the International Organization for Mediation (IOMed) in Hong Kong highlights this commitment, as the city positions itself as the capital of mediation.
     
    In terms of local capacity building, we have generally mandated mediation clauses in government contracts and have been enhancing training of mediators. 

    For regional integration, we are closely collaborating with our GBA partners to deploy Hong Kong mediation organisations to handle commercial mediation cases as referred to by the GBA courts; export Hong Kong’s best practice to develop GBA standard, including specialised mediation rules; and establish a unified GBA Mediators Panel for cross-border expertise. 

    The Greater Bay Area: Where Policies Meet Practice

    These initiatives reflect Hong Kong’s strategic role in the GBA. Innovative policies have created unprecedented opportunities. 

    For example, a Shenzhen company with Hong Kong shareholders of any investment ratio can now choose Hong Kong law to govern contracts, and choose Hong Kong as the arbitration seat. And the impact is visible: international investors can benefit from comprehensive legal protection under Hong Kong’s common law regime while navigating in Mainland’s dynamic markets with certainty and efficiency.

    In an era of growing complexity, businesses need to anchor in a jurisdiction that offers stability and connectivity. Hong Kong delivers precisely this – a common law system integrated with the world’s second largest economy, powered by world-class professionals conversant in global commerce and a robust and reliable dispute resolution mechanism.

    Ladies and gentlemen, I am sure you would fully explore the China advantages and the international advantages offered by Hong Kong in today’s Symposium. The Government will continue to solidify Hong Kong’s role as the premier global hub for business and investment. We support business ventures at every stage – from set-up, financing, management and operation to disputes resolution and restructuring.

    On this note, I wish this Symposium every success. Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by DSJ at International Symposium on Global Corporate Restructuring Center (English only) (with photo)

    Source: Hong Kong Government special administrative region

    Following are the opening remarks by the Deputy Secretary for Justice, Dr Cheung kwok-kwan, at the International Symposium on Global Corporate Restructuring Center today (July 6):

    The Honourable Professor Leung (Hong Kong Special Administrative Region (HKSAR) Deputy to the National People’s Congress, Member of the HKSAR Basic Law Committee of the Standing Committee of the National People’s Congress and Member of the Legislative Council, Professor Priscilla Leung) , Dr Sun Jin (Director-General of the International Organization for Mediation Preparatory Office), distinguished guests, ladies and gentlemen,

    Good morning. It is my honour to join this International Symposium on Global Corporate Restructuring Centre. We all know that today’s global economy is interconnected yet volatile. In order to maintain financial stability and investor confidence, we must keep abreast with market changes and cope with the need of cross-border businesses.
     
    Corporate restructuring is inherently a crucial strategic tool wielded in financial distress, which is vital for survival, renewal and resilience of the businesses. Indeed, successful restructuring preserves value of the businesses. Successful restructuring protects jobs of the employees. Successful restructuring instills confidence of the creditors. In short, successful corporate restructuring allows businesses to navigate adversity and becomes stronger for sustainable growth.

    Hong Kong is unique in the sense that it is the only common law jurisdiction in China and is deeply integrated with the Mainland market. It is therefore ideally positioned as a global centre for corporate restructuring. Now, I would like to outline how Hong Kong’s legal system delivers unparalleled advantages for business and investment, corporate restructuring and dispute resolution across Asia and beyond.

    The Foundation: “one country, two systems” and Common Law

    Hong Kong’s distinctiveness lies in the framework of “one country, two systems”, which preserves the common law system which is highly regarded by international community and reinforce our unique position to bridge the East and the West. This is not just theoretical – it translates into tangible expertise through our 13 000 solicitors and barristers, 560 Hong Kong lawyers licensed to practice in the Greater Bay Area (GBA), as well as 1 500 registered foreign lawyers, many of whom are multilingual and qualified in multiple jurisdictions. The accounting profession also plays a crucial role in corporate restructuring. We currently have over 6 500 establishments providing accounting, auditing and tax consultancy services. The Hong Kong Institute of Certified Public Accountants boasts a membership of over 47 000, who are recognised globally in such diverse places as Australia, Canada, England and Wales, South Africa etc. 

    What does this mean? When international investors face cross-border restructuring or insolvency, they can count on our professionals who master common law principles and international standard as well as the complexities of the Mainland market.

    Connectivity: Mutual Legal Assistance

    Such expertise is amplified by Hong Kong’s unmatched connectivity with the Mainland, offering effective pathways through nine mutual legal assistance arrangements in civil and commercial matters.

    Consider this: a European investor restructuring a Mainland-based joint venture could gain critical tools simply by choosing Hong Kong.

    Firstly, in assets preservation, businesses may obtain Mainland court orders to freeze assets or preserve evidence — a relief which is not available for arbitration seated in common law jurisdiction other than Hong Kong.

    Secondly, in direct enforcement: Businesses may enforce Hong Kong arbitral awards and court judgments in the Mainland, the coverage of which is the widest globally, including judgments on intellectual property rights which are not covered in international conventions. 

    Thirdly, streamlined restructuring and liquidation: A Hong Kong-appointed liquidator can access Mainland courts in Shenzhen, Shanghai and Xiamen to take control of the company’s assets and records in the Mainland, facilitating an effective corporate restructuring or at times, winding up.

    This seamless integration makes Hong Kong the optimal choice for business and investment and also cross-border restructuring with Mainland elements.

    Dispute Resolution: Arbitration and the New Era of Mediation

    Our advantages also extend to dispute resolution. The evidence is compelling — Hong Kong ranked globally number two as an arbitration seat under the 2025 Queen Mary University of London and White & Case International Arbitration Survey; last year, over 76 per cent of the cases handled by the Hong Kong International Arbitration Centre were international, with claims averaging HK$375 million, reflecting international trust in Hong Kong’s role in high-stakes cases.

    We recognise that modern challenges require diverse solutions, which is why we are promoting mediation in the Greater Bay Area. The recent establishment of the International Organization for Mediation (IOMed) in Hong Kong highlights this commitment, as the city positions itself as the capital of mediation.
     
    In terms of local capacity building, we have generally mandated mediation clauses in government contracts and have been enhancing training of mediators. 

    For regional integration, we are closely collaborating with our GBA partners to deploy Hong Kong mediation organisations to handle commercial mediation cases as referred to by the GBA courts; export Hong Kong’s best practice to develop GBA standard, including specialised mediation rules; and establish a unified GBA Mediators Panel for cross-border expertise. 

    The Greater Bay Area: Where Policies Meet Practice

    These initiatives reflect Hong Kong’s strategic role in the GBA. Innovative policies have created unprecedented opportunities. 

    For example, a Shenzhen company with Hong Kong shareholders of any investment ratio can now choose Hong Kong law to govern contracts, and choose Hong Kong as the arbitration seat. And the impact is visible: international investors can benefit from comprehensive legal protection under Hong Kong’s common law regime while navigating in Mainland’s dynamic markets with certainty and efficiency.

    In an era of growing complexity, businesses need to anchor in a jurisdiction that offers stability and connectivity. Hong Kong delivers precisely this – a common law system integrated with the world’s second largest economy, powered by world-class professionals conversant in global commerce and a robust and reliable dispute resolution mechanism.

    Ladies and gentlemen, I am sure you would fully explore the China advantages and the international advantages offered by Hong Kong in today’s Symposium. The Government will continue to solidify Hong Kong’s role as the premier global hub for business and investment. We support business ventures at every stage – from set-up, financing, management and operation to disputes resolution and restructuring.

    On this note, I wish this Symposium every success. Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Gaming connects Gen Z with traditional culture through digital innovation

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

    A visitor poses for photos at the booth of “Black Myth: Wukong” during the third Global Digital Trade Expo in Hangzhou, east China’s Zhejiang Province, Sept. 25, 2024. [Photo/Xinhua]

    Chinese video games are increasingly connecting ancient culture with younger generations. Through immersive digital design and real-world collaborations, homegrown titles are inspiring young players to rediscover traditional arts, driving tourism and reinforcing cultural confidence.

    One prime example, “Ashes of Kingdom,” immediately captured players’ imaginations after its domestic launch last September, attracting fans with its richly detailed late Han Dynasty (202 B.C. – 220 A.D.) and the Three Kingdoms period (220-280) world.

    In Yangzhou, east China’s Jiangsu Province, young gamers flocked to the city’s historic landmarks, including Slender West Lake, Ge Garden, and He Garden, as they were transformed into immersive in-game quest hubs.

    From mid-May to late June, the collaboration project drew thousands of visitors eager to trace the lacquerware motifs featured in the game.

    “The game has drawn many Gen Z travelers to Yangzhou to discover its beauty through its landscapes, cuisine and traditions,” said Dai Bin, deputy director of the city’s culture and tourism bureau.

    During the three-day Dragon Boat Festival, the Yangzhou Intangible Cultural Heritage Treasure Museum welcomed approximately 20,000 visitors daily, a significant portion of whom were gaming enthusiasts. Under the guidance of master artisans, visitors sketched, inlaid and polished Luodian — also known as mother-of-pearl inlay — on wooden panels, transforming digital motifs into tangible artworks.

    This “game-plus-heritage” model turns cultural landmarks into living classrooms, Dai added.

    Cultural tourism-related online searches of the city surged by 300 percent during the month-long project as Gen Z travelers flooded in to experience Han culture firsthand, according to data.

    Behind these successful activities stand young development teams who weave authentic history into modern gameplay. “We chose a few representative cultural fragments — lacquerware, guqin music and traditional attire — to spark curiosity,” said Xiao Meng, the producer of “Ashes of Kingdom.”

    “It’s a two-way journey: We invite players in and they, in turn, bring new perspectives to our shared heritage,” she said.

    National policies and education initiatives are fueling this cultural craze further. In April, the Ministry of Commerce rolled out a game export plan that calls for the development of overseas gaming operations, the expansion of application scenarios, and the establishment of an industrial chain spanning IP development, game production, publishing and international operations.

    Industry data underscores this momentum. According to the 2024 China game export report, Chinese-developed games achieved overseas sales of 18.56 billion U.S. dollars in 2024, representing a 13.39 percent increase from the previous year.

    In April this year, the Ministry of Education approved game art design as an undergraduate major at three institutions, including the Communication University of China and the Beijing Film Academy, with courses covering player psychology and the digital preservation of traditional aesthetics.

    “A systematic design theory is needed in the gaming industry in China, and through education, we aim to instill more professional design principles and drive the sector’s healthy development,” said Liang Qiwei, a guest professor at the Communication University of China’s School of Animation and Digital Arts and the founder of Beijing’s S-GAME.

    Thanks to the gaming boom, the revival of China’s traditional culture has moved beyond a mere trend, coming alive through a rich array of vivid cultural symbols and platforms.

    Take “Black Myth: Wukong” as an example. The game was inspired by classic Chinese tale “Journey to the West,” which features the Monkey King, and became an instant global sensation, selling over 10 million copies across all platforms within three days of its launch.

    The game’s global acclaim has marked significant progress in China’s endeavors to promote its culture overseas, demonstrating its increasing ability to break through barriers and overcome obstacles on the global stage, said Zhang Yiwu, a professor at Peking University.

    Video games have become one of the most important media forms for cultural exchange, but developers must first ensure gameplay remains entertaining and cultural elements enrich rather than overshadow the overall experience.

    The key to tapping into China’s cultural resources is to present them through innovative contemporary expression, Liang said. 

    MIL OSI China News –

  • MIL-OSI Video: South Africa- Austria Business Forum: Austria State Visit to South Africa

    Source: Republic of South Africa (video statements)

    South Africa- Austria Business Forum: Austria State Visit to South Africa

    https://www.youtube.com/watch?v=OtU1J1I8OKI

    MIL OSI Video –

  • MIL-OSI Video: South Africa- Austria Business Forum: Austria State Visit to South Africa

    Source: Republic of South Africa (video statements)

    South Africa- Austria Business Forum: Austria State Visit to South Africa

    https://www.youtube.com/watch?v=OtU1J1I8OKI

    MIL OSI Video –

  • MIL-OSI Video: South Africa- Austria Business Forum: Austria State Visit to South Africa

    Source: Republic of South Africa (video statements)

    South Africa- Austria Business Forum: Austria State Visit to South Africa

    https://www.youtube.com/watch?v=OtU1J1I8OKI

    MIL OSI Video –

  • MIL-OSI USA: Loeffler Issues Statement on One Big Beautiful Bill Signing

    Source: United States Small Business Administration

    WASHINGTON — Today, after President Donald J. Trump signed the One Big Beautiful Bill into law, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), released the following statement:

    “The One Big Beautiful Bill is a landmark victory for America’s small businesses, and it cements President Trump’s legacy as the greatest small business champion our country has ever known,” said Loeffler. “These historic tax cuts lay the foundation for generational prosperity on Main Street – ushering in a new era of growth, hiring, investment, and opportunity for job creators. I applaud Congressional Republicans for their efforts to pass the One Big Beautiful Bill, and I thank President Trump for his visionary leadership and unwavering commitment to putting American workers and job creators first.”

    Administrator Loeffler has been one of the Trump Administration’s most outspoken proponents of the One Big Beautiful Bill. Last month, she embarked on a national tour to tout its benefits alongside America’s small business owners – traveling to Florida, Indiana, Kansas, Louisiana, Maine, and North Carolina.

    In addition to delivering the largest tax cut in history for middle and working-class Americans – increasing annual take-home pay by at least $10,000 for most families – the One Big Beautiful Bill includes revolutionary reforms to end entitlement abuse, secure the border, stop the Green New Scam, and slash wasteful spending. It also includes numerous provisions that will directly empower small businesses and workers, including:

    • Prevents the largest tax hike in history, making the 2017 Trump Tax Cuts permanent and increasing the standard deduction for every American family.
    • Makes the Small Business Tax Deduction Permanent, preserving the 199A 20% small business deduction, which will generate $750 billion in economic growth and create over 1 million new Main Street jobs. Without the One Big Beautiful Bill, 26 million small businesses would have seen their top tax rate double to 43%.
    • Supports the return of Made in America by allowing 100 percent expensing for new factories, factory improvements, equipment, and research and development.
    • Ends the war on the gig economy by removing the requirement that Venmo, PayPal, and other gig transactions over $600 be reported to the IRS.
    • Protects family farmers by preventing the death tax from hitting 2 million family-owned farms who would otherwise see their exemptions cut in half.
    • Cuts taxes on seniors, tips, and overtime, saving tipped and overtime workers up to $1,750 per year.
    • Protects Medicaid for working Americans, by ending benefits for at least 1.4 million illegal immigrants who are gaming the system.
    • Increases the child tax credit to $2,200 per family.

    # # #

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • Centre urges public to use only BIS-certified helmets for two-wheeler safety

    Source: Government of India

    Source: Government of India (4)

    The Department of Consumer Affairs and the Bureau of Indian Standards (BIS) have urged two-wheeler riders across India to use only BIS-certified helmets, warning that substandard headgear poses a serious risk to road safety.

    With more than 21 crore two-wheelers plying on Indian roads, the government stressed that while wearing a helmet is mandatory under the Motor Vehicles Act, 1988, its quality is equally vital to prevent fatalities in accidents. Helmets certified under BIS standards (IS 4151:2015) are compulsory under a Quality Control Order enforced since 2021.

    However, according to the Department, a large number of helmets sold on roadsides and in informal markets still lack the mandatory ISI mark.

    “Sub-standard helmets compromise protection and defeat the purpose of wearing a helmet,” the Department said in a statement, adding that strict action is underway to tackle this threat to consumer safety.

    During the financial year 2024–25, BIS carried out over 30 search-and-seizure operations and tested more than 500 helmet samples. In one such operation in Delhi, over 2,500 non-compliant helmets were seized from nine manufacturers whose licences had expired or been cancelled. Similar operations at 17 retail and roadside locations led to the seizure of nearly 500 substandard helmets. Legal proceedings have been initiated against violators.

    Currently, 176 manufacturers across India hold valid BIS licences for protective helmets. To strengthen enforcement, the Department has written to District Collectors and Magistrates, urging them to launch special drives against illegal manufacture and sale of non-certified helmets. Local police and district administrations have been asked to integrate this initiative with existing road safety campaigns.

    BIS has also stepped up consumer outreach, partnering with local traffic authorities for roadshows and awareness drives. For example, the BIS Chennai team recently organised a campaign distributing ISI-marked helmets and educating riders on the importance of certified safety gear.

    Consumers can now check whether a helmet manufacturer is licensed on the BIS Care App or the BIS portal, which also allows users to lodge complaints against non-compliant sellers. In addition, BIS’s ‘Quality Connect’ campaign and its network of ‘Manak Mitra’ volunteers are engaging directly with the public to promote awareness about mandatory certification.

  • Centre urges public to use only BIS-certified helmets for two-wheeler safety

    Source: Government of India

    Source: Government of India (4)

    The Department of Consumer Affairs and the Bureau of Indian Standards (BIS) have urged two-wheeler riders across India to use only BIS-certified helmets, warning that substandard headgear poses a serious risk to road safety.

    With more than 21 crore two-wheelers plying on Indian roads, the government stressed that while wearing a helmet is mandatory under the Motor Vehicles Act, 1988, its quality is equally vital to prevent fatalities in accidents. Helmets certified under BIS standards (IS 4151:2015) are compulsory under a Quality Control Order enforced since 2021.

    However, according to the Department, a large number of helmets sold on roadsides and in informal markets still lack the mandatory ISI mark.

    “Sub-standard helmets compromise protection and defeat the purpose of wearing a helmet,” the Department said in a statement, adding that strict action is underway to tackle this threat to consumer safety.

    During the financial year 2024–25, BIS carried out over 30 search-and-seizure operations and tested more than 500 helmet samples. In one such operation in Delhi, over 2,500 non-compliant helmets were seized from nine manufacturers whose licences had expired or been cancelled. Similar operations at 17 retail and roadside locations led to the seizure of nearly 500 substandard helmets. Legal proceedings have been initiated against violators.

    Currently, 176 manufacturers across India hold valid BIS licences for protective helmets. To strengthen enforcement, the Department has written to District Collectors and Magistrates, urging them to launch special drives against illegal manufacture and sale of non-certified helmets. Local police and district administrations have been asked to integrate this initiative with existing road safety campaigns.

    BIS has also stepped up consumer outreach, partnering with local traffic authorities for roadshows and awareness drives. For example, the BIS Chennai team recently organised a campaign distributing ISI-marked helmets and educating riders on the importance of certified safety gear.

    Consumers can now check whether a helmet manufacturer is licensed on the BIS Care App or the BIS portal, which also allows users to lodge complaints against non-compliant sellers. In addition, BIS’s ‘Quality Connect’ campaign and its network of ‘Manak Mitra’ volunteers are engaging directly with the public to promote awareness about mandatory certification.

  • Centre urges public to use only BIS-certified helmets for two-wheeler safety

    Source: Government of India

    Source: Government of India (4)

    The Department of Consumer Affairs and the Bureau of Indian Standards (BIS) have urged two-wheeler riders across India to use only BIS-certified helmets, warning that substandard headgear poses a serious risk to road safety.

    With more than 21 crore two-wheelers plying on Indian roads, the government stressed that while wearing a helmet is mandatory under the Motor Vehicles Act, 1988, its quality is equally vital to prevent fatalities in accidents. Helmets certified under BIS standards (IS 4151:2015) are compulsory under a Quality Control Order enforced since 2021.

    However, according to the Department, a large number of helmets sold on roadsides and in informal markets still lack the mandatory ISI mark.

    “Sub-standard helmets compromise protection and defeat the purpose of wearing a helmet,” the Department said in a statement, adding that strict action is underway to tackle this threat to consumer safety.

    During the financial year 2024–25, BIS carried out over 30 search-and-seizure operations and tested more than 500 helmet samples. In one such operation in Delhi, over 2,500 non-compliant helmets were seized from nine manufacturers whose licences had expired or been cancelled. Similar operations at 17 retail and roadside locations led to the seizure of nearly 500 substandard helmets. Legal proceedings have been initiated against violators.

    Currently, 176 manufacturers across India hold valid BIS licences for protective helmets. To strengthen enforcement, the Department has written to District Collectors and Magistrates, urging them to launch special drives against illegal manufacture and sale of non-certified helmets. Local police and district administrations have been asked to integrate this initiative with existing road safety campaigns.

    BIS has also stepped up consumer outreach, partnering with local traffic authorities for roadshows and awareness drives. For example, the BIS Chennai team recently organised a campaign distributing ISI-marked helmets and educating riders on the importance of certified safety gear.

    Consumers can now check whether a helmet manufacturer is licensed on the BIS Care App or the BIS portal, which also allows users to lodge complaints against non-compliant sellers. In addition, BIS’s ‘Quality Connect’ campaign and its network of ‘Manak Mitra’ volunteers are engaging directly with the public to promote awareness about mandatory certification.

  • His entire life was dedicated to social justice: PM Modi pays tribute to Ram Vilas Paswan on his birth anniversary

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi paid tribute to former Union Minister Ram Vilas Paswan on his birth anniversary on Saturday, lauding his lifelong dedication to social justice.

    In a post on X, PM Modi said, “Humble tributes to former Union Minister Ram Vilas Paswan ji on his birth anniversary. His entire life was dedicated to social justice. His struggle for the rights of Dalits, backward classes, and the deprived can never be forgotten.”

    Lok Janshakti Party (LJP) chief Chirag Paswan, speaking to the media, described his father’s birth anniversary as a “festival” for the party.

    “Today is the birthday of my revered father, Shri Ram Vilas Paswan ji. This day is also a day of resolve for every leader and worker of the party to work towards social justice, make Bihar a developed state, and integrate the deprived sections of society into the mainstream, bringing his ideas to reality,” he said.

    He added that the LJP would commemorate the occasion in Hajipur, as done annually.

    In his X post, Chirag said, “Papa ji! Our family is always incomplete without you.”

    Ram Vilas Paswan, the founder and former LJP chief, was a nine-time Lok Sabha member and a two-time Rajya Sabha MP. He was also awarded the Padma Bhushan posthumously.

    Paswan passed away on October 8, 2020, due to a heart ailment. He was the Union Minister of Consumer Affairs, Food and Public Distribution in the Narendra Modi government and also held ministerial positions in previous NDA governments. Paswan was first elected to the Lok Sabha in 1977 on a Janata Party ticket from Hajipur in Bihar.

    (ANI)

  • MIL-OSI USA: Congestion Pricing Succeeding in Reducing Traffic

    Source: US State of New York

    overnor Kathy Hochul and the Metropolitan Transportation Authority (MTA) today announced that in its first six months, New York City’s congestion pricing program has succeeded in reducing traffic and raising revenues to fund transit improvements across the region, while economic activity in New York City has flourished. Activated at 12:00 am on January 5th, the nation’s first urban congestion pricing program reduces gridlock in Manhattan’s Congestion Relief Zone (CRZ) below 60th Street by charging motorists to enter the zone. Revenue from congestion pricing is on track to reach the forecasted $500 million in 2025, allowing the MTA to advance $15 billion in critical capital improvements to mass transit on its subway, bus, Long Island Rail Road, and Metro-North Railroad systems.

    “Six months in, it’s clear: congestion pricing has been a huge success, making life in New York better,” Governor Hochul said. “In New York, we dare to do big things, and this program represents just that – traffic is down throughout the region, business is booming, transit ridership is up, and we are making historic upgrades to our transit system. We’ve also fended off five months of unlawful attempts from the federal government to unwind this successful program and will keep fighting – and winning – in the courts. The cameras are staying on.”

    New York State and the MTA have successfully fought off repeated legal challenges to congestion pricing and have stood up to block the unlawful attempts of the United States Department of Transportation (USDOT) and the Trump Administration to terminate the program. In May, a preliminary injunction was issued in the case of Metropolitan Transportation Authority v. Duffy, keeping congestion pricing in effect pending further court proceedings and enjoining the federal government from taking retaliatory measures in response.

    MTA Chair and CEO Janno Lieber said, “Congestion relief is a massive success and validation of the initiative keeps pouring in. The program is achieving all of its goals in terms of traffic reduction, increased travel speeds, safety, noise reduction and more. And not only is Congestion Relief delivering all the projected benefits – and more – it’s also proving that New York State government can effectively execute major, ambitious initiatives that improve the quality of life in ways New Yorkers notice and appreciate.”

    MTA Construction & Development President Jamie Torres-Springer said, “In addition to all of the benefits New Yorkers are already feeling on our streets, Congestion Relief is delivering accessibility at 25 subway and railroad stations, modern subway signals for AC and BDFM riders, new subway and rail cars, and countless other essential projects for our public transit system. The new MTA is hard at work advancing these projects better, faster, and cheaper.”

    Since the congestion pricing program took effect on Jan. 5, it has delivered a wide array of benefits according to data from the MTA and other reports and studies from business groups and other data sources.

    Congestion pricing is reducing traffic and improving quality of life

    In just six months, congestion pricing has succeeded in reducing traffic, speeding up the flow of traffic, and reducing delays – not just in the Congestion Relief Zone but throughout the region. The number of vehicles entering the zone is down by 11% since congestion pricing started. Every day, 67,000 fewer vehicles enter the zone, and since the program started, more than 10 million fewer vehicles have entered the zone compared to last year.

    According to a report from the Regional Plan Association and Waze, traffic delays are down in the Congestion Relief Zone by 25% and across the metropolitan region by 9%. Delays are also down by 10% in the Bronx and 14% in parts of Bergen County, NJ. Time lost to traffic jams is down 12%, giving seven minutes for every hour spent in traffic in 2024 back to commuters’ lives. Travel times on river crossings have decreased by 6% to as much as 42% in 2025 compared to 2024. In the Holland Tunnel, rush hour delays are down by 65% since congestion pricing began. In the Lincoln Tunnel, MTA express buses are traveling almost 24% faster than in 2024. Roads and highways approaching the Congestion Relief Zone, including Flatbush Ave in Brooklyn and the Long Island Expressway, are also moving faster than last year.

    Reduced gridlock has improved quality of life in New York City. Crashes in the Congestion Relief Zone are down 14%. Traffic injuries are down by 15% in the zone, and the safety benefits are being felt citywide. Just this week, the New York City Department of Transportation released data showing that pedestrian fatalities on New York City streets are at historic lows, matching levels last seen in 2018.

    Additionally, air quality has improved and noise pollution has reduced since the program was launched. Honking and vehicle noise complaints to 311 are down by 45% in 2025. A new report from the City Department of Health and Mental Hygiene released on July 2 showed steady or decreasing levels of fine particle air pollution (or PM2.5) at most sites, both inside and outside the Congestion Relief Zone.

    Transit service and ridership are on the rise

    Transit ridership across all modes has increased from January-May 2025 when compared to the same period last year. All MTA modes of public transportation have had post-pandemic record high ridership in the first half of 2025.

    • Subway: +7%
    • Bus: +12%
    • LIRR: +8%
    • Metro-North: +6%
    • Access-A-Ride: +21%

    Transit service has steadily improved in 2025 to near record levels. In May, subway On-Time Performance was 85.2%, the best non-pandemic month in recorded history. Long Island Rail Road and Metro-North On-Time Performance have consistently been at or near 97% and 98% respectively in 2025. Buses are moving faster thanks to congestion pricing. Bus speeds have increased by an average of 3.2% within the CRZ, with some routes increasing by as much as 25%.

    Governor Hochul and the MTA have also made historic investments to improve bus service. Service was increased on eight key Express Bus routes in March and on 14 high-ridership local bus routes on June 29th. The MTA also launched the first phase of the Queens Bus Network Redesign on June 29th, bringing more frequent and direct service with better connections to 800,000 Queens bus riders. Phase 2 will launch on August 31.

    Economic activity in New York City is up

    Gridlock is bad for the economy. According to a report from the Partnership for New York City before congestion pricing was launched, businesses and individuals were wasting hundreds of hours sitting in traffic, costing the economy $20 billion per year. Congestion pricing is a locally developed solution to a generational challenge. 

    Already, the benefits of congestion pricing are improving New York City’s economy. Commuters are saving as much as 21 minutes each way. Time savings help businesses make deliveries and save costs. The annual value of these time savings could be as high as $1.3 billion. In May, business district pedestrian activity within the Congestion Relief Zone increased by 8.4% compared to May 2024. This growth is much faster than for business districts outside of the zone, which saw an increase of 2.7%.

    Business is booming in the Congestion Relief Zone in 2025. Broadway just posted its biggest season ever with $1.9 billion in ticket sales; retail sales are on track to be up $900 million in 2025 compared to 2024; Hotel occupancy was 87% in April 2025 compared to 85% in April 2024; Commercial office leasing in 2025 Q1 is up 11% compared to 2024 Q4 and up 80% since 2024 Q1. At the same time, New York City now has the most jobs in its history – nearing 4.86 million in April 2025. That represents 1.6% growth over April 2024, outpacing the national average of 1.1%.

    The MTA is investing in transit improvements funded by congestion pricing

    By enabling the MTA to issue $15 billion in bonds to fund projects in its 2020-2024 Capital Plan, congestion pricing is powering improvements across the MTA network. Improvement projects funded by congestion pricing include:

    • 435 additional R211 subway cars – including 80 additional open-gangway cars
    • 44 new, more reliable dual-mode locomotives for the Long Island Rail Road
    • 300 new M9A cars for Metro-North and the Long Island Rail-Road
    • Communications Based Train Control (CBTC) signal upgrades on the A and C lines between Downtown Brooklyn and Ozone Park, allowing for more frequent and reliable service
    • Americans with Disabilities Act (ADA) upgrades at 23 subway stations, including new elevators, reconstructed platforms, and other improvements

    Additionally, funding from congestion pricing allows the MTA to move forward with the tunneling contract for Phase 2 of the Second Avenue Subway, which will be awarded in the second half of 2025.

    MIL OSI USA News –

  • MIL-OSI USA: Congestion Pricing Succeeding in Reducing Traffic

    Source: US State of New York

    overnor Kathy Hochul and the Metropolitan Transportation Authority (MTA) today announced that in its first six months, New York City’s congestion pricing program has succeeded in reducing traffic and raising revenues to fund transit improvements across the region, while economic activity in New York City has flourished. Activated at 12:00 am on January 5th, the nation’s first urban congestion pricing program reduces gridlock in Manhattan’s Congestion Relief Zone (CRZ) below 60th Street by charging motorists to enter the zone. Revenue from congestion pricing is on track to reach the forecasted $500 million in 2025, allowing the MTA to advance $15 billion in critical capital improvements to mass transit on its subway, bus, Long Island Rail Road, and Metro-North Railroad systems.

    “Six months in, it’s clear: congestion pricing has been a huge success, making life in New York better,” Governor Hochul said. “In New York, we dare to do big things, and this program represents just that – traffic is down throughout the region, business is booming, transit ridership is up, and we are making historic upgrades to our transit system. We’ve also fended off five months of unlawful attempts from the federal government to unwind this successful program and will keep fighting – and winning – in the courts. The cameras are staying on.”

    New York State and the MTA have successfully fought off repeated legal challenges to congestion pricing and have stood up to block the unlawful attempts of the United States Department of Transportation (USDOT) and the Trump Administration to terminate the program. In May, a preliminary injunction was issued in the case of Metropolitan Transportation Authority v. Duffy, keeping congestion pricing in effect pending further court proceedings and enjoining the federal government from taking retaliatory measures in response.

    MTA Chair and CEO Janno Lieber said, “Congestion relief is a massive success and validation of the initiative keeps pouring in. The program is achieving all of its goals in terms of traffic reduction, increased travel speeds, safety, noise reduction and more. And not only is Congestion Relief delivering all the projected benefits – and more – it’s also proving that New York State government can effectively execute major, ambitious initiatives that improve the quality of life in ways New Yorkers notice and appreciate.”

    MTA Construction & Development President Jamie Torres-Springer said, “In addition to all of the benefits New Yorkers are already feeling on our streets, Congestion Relief is delivering accessibility at 25 subway and railroad stations, modern subway signals for AC and BDFM riders, new subway and rail cars, and countless other essential projects for our public transit system. The new MTA is hard at work advancing these projects better, faster, and cheaper.”

    Since the congestion pricing program took effect on Jan. 5, it has delivered a wide array of benefits according to data from the MTA and other reports and studies from business groups and other data sources.

    Congestion pricing is reducing traffic and improving quality of life

    In just six months, congestion pricing has succeeded in reducing traffic, speeding up the flow of traffic, and reducing delays – not just in the Congestion Relief Zone but throughout the region. The number of vehicles entering the zone is down by 11% since congestion pricing started. Every day, 67,000 fewer vehicles enter the zone, and since the program started, more than 10 million fewer vehicles have entered the zone compared to last year.

    According to a report from the Regional Plan Association and Waze, traffic delays are down in the Congestion Relief Zone by 25% and across the metropolitan region by 9%. Delays are also down by 10% in the Bronx and 14% in parts of Bergen County, NJ. Time lost to traffic jams is down 12%, giving seven minutes for every hour spent in traffic in 2024 back to commuters’ lives. Travel times on river crossings have decreased by 6% to as much as 42% in 2025 compared to 2024. In the Holland Tunnel, rush hour delays are down by 65% since congestion pricing began. In the Lincoln Tunnel, MTA express buses are traveling almost 24% faster than in 2024. Roads and highways approaching the Congestion Relief Zone, including Flatbush Ave in Brooklyn and the Long Island Expressway, are also moving faster than last year.

    Reduced gridlock has improved quality of life in New York City. Crashes in the Congestion Relief Zone are down 14%. Traffic injuries are down by 15% in the zone, and the safety benefits are being felt citywide. Just this week, the New York City Department of Transportation released data showing that pedestrian fatalities on New York City streets are at historic lows, matching levels last seen in 2018.

    Additionally, air quality has improved and noise pollution has reduced since the program was launched. Honking and vehicle noise complaints to 311 are down by 45% in 2025. A new report from the City Department of Health and Mental Hygiene released on July 2 showed steady or decreasing levels of fine particle air pollution (or PM2.5) at most sites, both inside and outside the Congestion Relief Zone.

    Transit service and ridership are on the rise

    Transit ridership across all modes has increased from January-May 2025 when compared to the same period last year. All MTA modes of public transportation have had post-pandemic record high ridership in the first half of 2025.

    • Subway: +7%
    • Bus: +12%
    • LIRR: +8%
    • Metro-North: +6%
    • Access-A-Ride: +21%

    Transit service has steadily improved in 2025 to near record levels. In May, subway On-Time Performance was 85.2%, the best non-pandemic month in recorded history. Long Island Rail Road and Metro-North On-Time Performance have consistently been at or near 97% and 98% respectively in 2025. Buses are moving faster thanks to congestion pricing. Bus speeds have increased by an average of 3.2% within the CRZ, with some routes increasing by as much as 25%.

    Governor Hochul and the MTA have also made historic investments to improve bus service. Service was increased on eight key Express Bus routes in March and on 14 high-ridership local bus routes on June 29th. The MTA also launched the first phase of the Queens Bus Network Redesign on June 29th, bringing more frequent and direct service with better connections to 800,000 Queens bus riders. Phase 2 will launch on August 31.

    Economic activity in New York City is up

    Gridlock is bad for the economy. According to a report from the Partnership for New York City before congestion pricing was launched, businesses and individuals were wasting hundreds of hours sitting in traffic, costing the economy $20 billion per year. Congestion pricing is a locally developed solution to a generational challenge. 

    Already, the benefits of congestion pricing are improving New York City’s economy. Commuters are saving as much as 21 minutes each way. Time savings help businesses make deliveries and save costs. The annual value of these time savings could be as high as $1.3 billion. In May, business district pedestrian activity within the Congestion Relief Zone increased by 8.4% compared to May 2024. This growth is much faster than for business districts outside of the zone, which saw an increase of 2.7%.

    Business is booming in the Congestion Relief Zone in 2025. Broadway just posted its biggest season ever with $1.9 billion in ticket sales; retail sales are on track to be up $900 million in 2025 compared to 2024; Hotel occupancy was 87% in April 2025 compared to 85% in April 2024; Commercial office leasing in 2025 Q1 is up 11% compared to 2024 Q4 and up 80% since 2024 Q1. At the same time, New York City now has the most jobs in its history – nearing 4.86 million in April 2025. That represents 1.6% growth over April 2024, outpacing the national average of 1.1%.

    The MTA is investing in transit improvements funded by congestion pricing

    By enabling the MTA to issue $15 billion in bonds to fund projects in its 2020-2024 Capital Plan, congestion pricing is powering improvements across the MTA network. Improvement projects funded by congestion pricing include:

    • 435 additional R211 subway cars – including 80 additional open-gangway cars
    • 44 new, more reliable dual-mode locomotives for the Long Island Rail Road
    • 300 new M9A cars for Metro-North and the Long Island Rail-Road
    • Communications Based Train Control (CBTC) signal upgrades on the A and C lines between Downtown Brooklyn and Ozone Park, allowing for more frequent and reliable service
    • Americans with Disabilities Act (ADA) upgrades at 23 subway stations, including new elevators, reconstructed platforms, and other improvements

    Additionally, funding from congestion pricing allows the MTA to move forward with the tunneling contract for Phase 2 of the Second Avenue Subway, which will be awarded in the second half of 2025.

    MIL OSI USA News –