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  • MIL-OSI Africa: Kholo Capital provides Bayport South Africa with a R200 million mezzanine debt growth funding facility to support the roll out of the Bayport South Africa (SA) Financial Wellness Solutions Programme

    Source: APO


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    Kholo Capital Mezzanine Debt Fund I (“Kholo Capital”) (www.KholoCapital.com) announced today the injection of a R200 million mezzanine debt growth funding facility into Bayport Securitisation (“Bayport South Africa” or “Bayport SA”) to support the roll out of the Bayport SA Financial Wellness Solutions Programme. Bayport SA is committed to alleviating employee over-indebtedness in South Africa and promoting long-term financial wellness of employees. This is achieved by offering them with practical debt solutions, which include debt reduction through negotiating settlement terms and discounts with creditors, halting legal action where possible, and improving employees’ credit scores, through its financial wellness solutions programme.

    Through the Bayport SA Financial Wellness Programme, Bayport SA addresses the widespread issue of over-indebtedness among South African employees. By providing tailored debt reductions (wherein the benefit of all settlement discounts negotiated with creditors is passed to the employees), debt consolidation and rehabilitation solutions, Bayport enables employees to regain financial stability and improve their long-term financial standing. The programme includes structured debt management processes and financial literacy initiatives, ensuring that employees not only reduce their debt obligations and debt repayments resulting in financial breathing room but also develop healthier long-term financial habits.

    Recent market data indicates that more than 60% of employed individuals in South Africa are struggling with over-indebtedness, while less than 14% of the South African population can afford to retire. Alarmingly, an average of 74% of income is spent on debt repayments, with 49% of all consumers falling more than one month behind on at least one loan. These findings highlight a critical socioeconomic issue that not only affects individual well-being and family units, but also impacts workplace productivity, stability, and staff morale.

    As a vital component of its initiative, Bayport SA offers employees, through partnerships with employers, a structured 10-week financial wellness journey aimed at providing both immediate relief and fostering long-term behavioural change. Employees can expect significant improvements in monthly cash flow (i.e., including significant debt reduction), enhanced expense management, and the ability to effectively plan for future financial milestones. The program includes personal financial health assessments, individualized coaching, and practical exercises to build sustainable financial habits. Additionally, employees engage in peer-led group sessions that promote accountability and support the development of effective money management practices.

    To further amplify the financial wellness program’s impact, Bayport SA supplies a range of digital tools and support services. These include a gamified financial wellness app that facilitates goal tracking and provides access to educational resources, along with one-on-one sessions with personal money coaches throughout the journey. The Bayport SA Academy offers online financial education and workshops to enhance financial literacy, while structured emergency credit facilities provide responsible short-term relief as an alternative to high-cost payday loans.

    Bayport SA is currently in partnership with more 70 employers across various industries in South Africa, including blue-chip corporations in FMCG, financial services, telecommunications, automotive, and mining sectors, as well as government entities at local, provincial, and national levels.

    Mokgome Mogoba, Managing Partner and Founder at Kholo Capital, remarked: “The positive ESG and social impact on the South African society by Bayport SA is substantial as the company provides significant debt relief to over-indebted employees. We are very passionate about financial inclusion and this investment achieves that. Bayport SA’s intervention in the South African economy is significant and measurable. Settlement discounts negotiated with creditors on behalf of employees can range between 25% and 80% of the total debt amount outstanding. The average increase in monthly disposable income is R7,450, representing 32.8% of the average basic salary of R22,865. This increase in financial flexibility is directly correlated with a substantial reduction in the total debt amount outstanding and reduction in monthly debt repayment obligations.”                                                                                                                        

    Zaheer Cassim, Managing Partner and Founder at Kholo Capital, asserted: “Bayport SA’s securitization program, is one of the best in South Africa. There has never been any payment defaults or covenant breaches, even during the challenging period of the COVID-19 pandemic. The securitization program is supported by leading South African institutional investors and South African banks. Bayport SA is also highly regarded for its first-class management team, transparent reporting practices and strong management engagement, with regular investor reporting and quarterly meetings with investors. The business is supported by strong shareholders of reference which include the Public Investment Corporation (PIC). We are very pleased with this investment in Bayport SA, and we look forward to supporting this highly talented and highly motivated management team in their vision to grow the business, by providing financial wellness solutions to the South African people.”

    Alfred Ramosedi, Chief Executive Officer of Bayport SA, commented: “We are proud to partner with Kholo Capital, whose commitment to impact investing aligns seamlessly with our mission to drive meaningful financial change. As one of South Africa’s leading financial wellness companies, this funding will enable us to scale our reach and deepen our impact – empowering even more South Africans with the tools and support to break free from debt and build financially resilient futures.”

    Norton Rose Fulbright acted as legal counsel to Kholo Capital and Werksmans acted as legal counsel for Bayport SA.

    Distributed by APO Group on behalf of Kholo Capital.

    Notes to Editors

    About R1,4 billion Kholo Capital Mezzanine Debt Fund I

    Please keep Kholo Capital Mezzanine Debt in mind whenever equity funding is needed, we can plug some of the equity funding gap with mezzanine debt loan funding (subordinated loans) so that shareholders don’t give up too much equity and don’t suffer too much equity dilution.

    The R1,4bn Kholo Capital Mezzanine Debt Fund provides mezzanine debt funding R70m to R205m to medium sized businesses generating minimum R25m EBITDA per annum. We can invest in all sectors including real estate (but excluding primary mining, resources, commodities, primary farming, micro lending, gambling, ammunition, hard liquor and tobacco). However, we can invest in mining services/products, mining logistics/transportation, mineral processing, and Agri-processing.

    We provide growth capital and acquisition funding to mid-market companies with operations in South Africa, Botswana, Namibia, Swaziland, or Lesotho. Investment tenor 4 to 7yrs targeting returns above 17% (interest rate plus equity upside). Leverage up to 3,5x to 4x Total Debt (senior debt and mezzanine debt) to EBITDA and/or up to 80% LTV.

    Kholo Capital is passionate about investing in sectors of the Southern African economy with high social impact including financial inclusion, affordable housing, healthcare, education, renewable energy, food security, ICT, and infrastructure. Our guiding business principles include commitment to add sustainable value to our investee companies and to adhere to the best ESG practices. The Fund uses the United Nation’s 17 Sustainable Development Goals as guiding principles with key focus on those linked to job creation and sustainable growth.

    We also fund share buy backs, refinancing of shareholder loans and dividend recaps. We also fund management buy-outs, leveraged buyouts and private equity buy-outs.

    We can also pay down portion of senior debt bank funding especially where the senior debt has steep capital repayments, in order to create cashflow headroom for the business. Mezzanine debt loan funding is typically 5-6yr flexible bullet loan funding with capital repayable right at the end on the maturity of the loan. The business only has to service interest payments during the loan tenor thereby creating cashflow headroom and the business can re-invest the excess cashflows for growth.

    Business or project must be generating minimum R25m EBITDA per annum at the time of investment. Meaning we can’t fund greenfield projects or new developments on a ring-fenced basis. We can look at greenfield opportunities or new projects provided there is an external guarantee (i.e., third party guarantee) from a business (i.e., balance sheet) that generates the minimum R25m EBITDA. The guarantee can fall away once the business meets the threshold and covenants are met.

    Also, we can’t fund distressed assets or big turnarounds.

    Kholo Capital is a specialist alternative investment fund management company with deep experience and track record in private markets. It was founded in 2020 by Mokgome Mogoba and Zaheer Cassim. The Kholo Capital investment team has more than 100 years of collective credit and investment experience and is highly skilled in senior debt, mezzanine debt and private equity. The investment team has a strong track record in the credit and investment space and has invested in excess of R50bn of mezzanine debt, private equity and senior debt investment transactions in over 90 transactions in more than 10 African countries. Kholo Capital is managed by a cohesive, dynamic and nimble team and the management team has worked together over the last 21 years.

    Website: www.KholoCapital.com

    Website: www.Bayport.co.za

    For more information contact:
    Mokgome Mogoba
    Managing Partner – Kholo Capital Mezzanine Debt Fund I
    mokgome@kholocapital.com
    Tel: +27-79-631-5860

    Zaheer Cassim
    Managing Partner – Kholo Capital Mezzanine Debt Fund I
    zaheer@kholocapital.com
    Tel: +27-83-786-0845

    MIL OSI Africa –

  • PM Modi gets warm welcome from Indian diaspora as he arrives in Brasília for state visit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Monday received a warm welcome from members of the Indian diaspora as he arrived in the Brazilian capital for a State Visit. Touched by the gesture, PM Modi described it as a “memorable welcome” and praised the diaspora for staying connected with their roots.

    “Landed in Brasília a short while ago. The Indian community accorded a memorable welcome, once again highlighting how passionate our diaspora is and how connected they remain with their roots,” PM Modi wrote on X.

    PM Modi arrived in Brasília to the beats of a traditional Brazilian Samba Reggae performance after wrapping up a “very productive” visit to Rio de Janeiro for the 17th BRICS Summit. The Indian Prime Minister, who is in the capital for a State Visit, was received at the airport by Brazil’s Defence Minister Jose Mucio Monteiro Filho.

    During his stay in Brasília, PM Modi will meet President Luiz Inácio Lula da Silva to discuss various issues related to India-Brazil relations.

    PM Modi also shared on X, “At Brasília airport, the Batala Mundo band played some wonderful compositions. Theirs is a global effort to promote Afro-Brazilian percussion, in particular the Samba Reggae from Salvador da Bahia, Brazil.”

    Earlier, the Prime Minister described his Rio de Janeiro visit as “very productive”.

    “Now on the way to Brasília for the State Visit. Will hold detailed talks with President Lula on different aspects of India-Brazil ties. The Rio leg of my Brazil visit was very productive. We had extensive deliberations at the BRICS Summit. I compliment President Lula and the Brazilian Government for the work they’ve done through their BRICS Presidency in making this platform even more effective. My bilateral meetings with world leaders will also boost India’s friendship with various nations,” PM Modi said in a post on X.

    Earlier on Monday, PM Modi praised BRICS for prioritising key global issues such as the environment and health security. He underlined these subjects as crucial for humanity’s future, adding that for India, climate justice is not merely a choice but a moral obligation.

    Speaking at the BRICS session on Environment, COP-30, and Global Health, PM Modi said climate change and environmental protection have always been top priorities for India. “For us, it is not just about energy, it is about maintaining a balance between life and nature,” the Prime Minister said.

    “I am glad that under the chairmanship of Brazil, BRICS has given high priority to important issues like environment and health security. These subjects are not only interconnected but are also extremely important for the bright future of humanity.

    “This year, COP-30 is being held in Brazil, making discussions on the environment in BRICS both relevant and timely. Climate change and environmental safety have always been top priorities for India. For us, it’s not just about energy, it’s about maintaining a balance between life and nature. While some see it as just numbers, in India, it’s part of our daily life and traditions. In our culture, the Earth is respected as a mother. That’s why, when Mother Earth needs us, we always respond. We are transforming our mindset, our behaviour, and our lifestyle,” he said.

    He added, “Guided by the spirit of ‘People, Planet, and Progress’, India has launched several key initiatives — such as Mission LiFE (Lifestyle for Environment), ‘Ek Ped Maa Ke Naam’ (A Tree in the Name of Mother), the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure, the Green Hydrogen Mission, the Global Biofuels Alliance, and the Big Cats Alliance.

    “During India’s G20 Presidency, we placed strong emphasis on sustainable development and bridging the gap between the Global North and South. With this objective, we achieved consensus among all countries on the Green Development Pact. To encourage environment-friendly actions, we also launched the Green Credits Initiative.”

    —IANS

     

  • PM Modi arrives in Brasília for state visit, to hold talks with President Lula

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi arrived in the Brazilian capital Brasília on Monday, marking the second leg of his visit to Brazil after concluding a “very productive” trip to Rio de Janeiro for the 17th BRICS Summit.

    Upon his arrival, Prime Minister Modi was received at the airport by Brazil’s Defence Minister Jose Mucio Monteiro Filho.

    During his State Visit, the Indian Prime Minister is scheduled to hold bilateral discussions with Brazilian President Luiz Inácio Lula da Silva.

    Briefing reporters on Sunday, India’s Ambassador to Brazil, Dinesh Bhatia, said that both sides are expected to sign four agreements or memorandums of understanding (MoUs). These will cover cooperation in renewable energy, counterterrorism, agricultural research between the Indian Council of Agricultural Research (ICAR) and Brazil’s Embrapa, and the exchange and mutual protection of confidential information.

    A relationship rooted in shared values

    India and Brazil share a multifaceted relationship which was elevated to a Strategic Partnership in 2006. The two countries also work closely in global and plurilateral forums such as BRICS, IBSA, G20, G-4, the International Solar Alliance and the Global Biofuel Alliance.

    The bilateral relationship is underpinned by a shared vision for a just global order, democratic values and the commitment to foster economic growth with social inclusion.

    Historically, the cultural exchanges between Brazil and India date back to the Portuguese colonial era. Indian cattle breeds like Gir and Kankrej, exported to Brazil in the early 20th century, have significantly contributed to Brazil’s dairy industry. The popularity of Brazilian television series such as Caminho das Indias has also enhanced India’s image in Brazilian popular culture.

    Diplomatic relations were formally established in 1948, with embassies opened in the same year. India’s embassy shifted from Rio de Janeiro to Brasilia in 1971.

    Strengthening economic ties

    The trade relationship between India and Brazil remains robust. In 2024-25, bilateral trade reached USD 12.2 billion, with Indian exports accounting for USD 6.77 billion and imports from Brazil at USD 5.43 billion. Major Indian exports include petroleum products, agro-chemicals, pharmaceuticals and engineering goods. Brazilian exports to India primarily comprise crude oil, soya oil, gold, raw sugar and cotton.

    Indian investments in Brazil are estimated at over USD 6 billion, while Brazilian investments in India are around USD 1 billion. Prominent Indian firms operating in Brazil include Tata Motors, Mahindra Tractors, Infosys, Wipro and Sun Pharma, among others. Conversely, Brazilian companies such as Vale, Stefanini and WEG have a presence in India.

    High-level visits and parliamentary exchanges

    In recent years, high-level exchanges have imparted momentum to the relationship. President Jair Bolsonaro paid a state visit to India in January 2020 and was the Chief Guest at India’s Republic Day Parade. During the visit, an Action Plan was adopted to strengthen the Strategic Partnership, leading to the signing of 15 agreements across diverse sectors.

    Parliamentary engagement has also expanded. Speaker of the Lok Sabha, Om Birla, led a delegation to attend the BRICS Parliamentary Forum in Brasilia in June 2025 and held meetings with Brazilian parliamentary leaders. Earlier, Deputy Chairman of the Rajya Sabha, Harivansh, participated in the G20 Parliamentary Speakers’ Summit in November 2024.

    Recently, a multi-party parliamentary delegation led by Dr. Shashi Tharoor visited Brasilia to discuss cross-border terrorism following the Pahalgam attack. They met Vice President Geraldo Alckmin and senior Brazilian officials.

    Expanding frontiers: space, energy and health

    India and Brazil collaborate in space technology through agreements for peaceful use of outer space and satellite tracking. India notably launched Brazil’s Amazonia-1 satellite in 2021.

    In oil and gas, Brazil is India’s largest upstream investment destination in the Americas, with Indian PSUs investing over USD 3.5 billion. The nations are also co-founders of the Global Biofuel Alliance, launched at the 2023 G20 Summit in New Delhi.

    Health and traditional medicine are other areas of cooperation. Ayurveda and Yoga are recognised under Brazil’s national policy of alternative medicine, and the two countries have agreed to collaborate on health surveillance, technology transfer and research.

     

  • King Charles hosts Macron in first European state visit since Brexit

    Source: Government of India

    Source: Government of India (4)

    Britain’s King Charles will welcome French President Emmanuel Macron to Windsor Castle on Tuesday for the first state visit by a European leader since Brexit in a trip aimed at celebrating the return of closer political ties between the countries.

    The grand ceremonial event will be the first for Macron, who enjoys a good personal relationship with the king. The last state visit to Britain by a French president was in 2008, when Nicolas Sarkozy was a guest of the late Queen Elizabeth.

    Britain has been trying to reset ties with European allies since Prime Minister Keir Starmer was elected last year. The talks this week will focus on a range of issues, including how to stop people-smuggling and improving economic and defence ties at a time when the United States is retrenching from its traditional role as a defender of European security.

    Although there have been tensions over the shape of post-Brexit ties and how to stop asylum seekers from crossing the Channel in small boats, Britain and France have been working closely together to create a planned military force to support Ukraine in the event of a ceasefire with Russia.

    Sebastien Maillard, an associate fellow at London’s Chatham House think tank, said the two sides were seeking to repair some of the damage done by the Brexit negotiations in the run up to Britain leaving the EU in 2020, “when France was more or less playing the bad cop”.

    While Macron’s three-day visit is filled with meetings about economic issues and foreign affairs, the first day of the visit is largely focused on pageantry, and heavy in symbolism.

    Prince William and his wife Kate will greet Macron and his wife Brigitte at a military airport in London and will accompany them to Windsor where they will be officially welcomed by the king and Queen Camilla, and gun salutes.

    They will then travel in a carriage procession through Windsor’s streets, attend a military parade and then have lunch with the royal family at the castle.

    On Tuesday afternoon, Macron will travel back to London to speak to lawmakers in the parliament. The day will end with a state dinner at Windsor Castle, including speeches by the king and Macron in front of about 150 guests.

    MIGRANTS’ RETURN DEAL

    The following day Starmer will host Macron at Downing Street where they will discuss how to stop the flow of tens of thousands of asylum seekers across the Channel.

    British officials are hoping that Macron will agree to a pilot of an asylum seekers’ returns deal. This would involve Britain deporting one asylum seeker to France in exchange for another with a legitimate case to be in Britain, thereby disrupting the business model of people-smuggling gangs.

    A record number of asylum seekers have arrived in Britain on small boats from France in the first six months of this year. Starmer, trailing behind Nigel Farage’s insurgent, right-wing Reform UK party in the polls, is under pressure to come up with a solution.

    France has previously refused to sign up to such an agreement, saying Britain should negotiate an arrangement with all the EU countries.

    On Thursday, Starmer and Macron will host a UK-France summit to discuss other bilateral issues and how to support Ukraine. The two could also announce further cooperation on nuclear investment, such as at Sizewell C.

    Macron’s visit is a sign of a new era in relations.

    Former British Prime Minister Boris Johnson said in his memoirs published last year that Macron wanted to punish Britain after it voted to leave the EU in 2016.

    Britain and France in recent years have publicly clashed over fishing rights and a submarine alliance that united Britain, Australia and the United States, but left France on the sidelines.

    (Reuters)

  • Hopes fade for Texas flood victims as death toll tops 95

    Source: Government of India

    Source: Government of India (4)

    Search teams plodded through muddy riverbanks and flew aircraft over a flood-ravaged central Texas landscape on Monday as hopes dimmed for finding more survivors among dozens still missing from a disaster that has claimed at least 96 lives, many of them children.

    Three days after a torrential predawn downpour transformed the Guadalupe River into a raging, killer torrent, a Christian girls’ summer camp devastated by the flash flood confirmed that 27 campers and counselors were among those who had perished.

    Ten girls and a camp counselor were still unaccounted for, officials said on Monday, as search-and-rescue personnel faced the potential of more heavy rains and thunderstorms while clawing through tons of muck-laden debris.

    The bulk of the death toll from Friday’s flooding was concentrated in and around the riverfront Hill Country town of Kerrville, including the ill-fated grounds of Camp Mystic.

    By Monday afternoon, the bodies of 84 flood victims – 56 adults and 28 children – were recovered in Kerr County, most of them in the county seat of Kerrville, according to the local sheriff.

    As of midday Sunday, state and local officials said 12 other flood-related fatalities had been confirmed across five neighboring south-central Texas counties, and that 41 other people were still listed as missing outside Kerr County.

    The New York Times, one of numerous news media outlets publishing varying death tolls on Monday, reported that at least 104 people had been killed across the entire flood zone.

    ‘ROUGH WEEK’ AHEAD

    While authorities continued to hold out hope that some of the missing would turn up alive, the likelihood of finding more survivors diminished as time passed.

    “This will be a rough week,” Mayor Joe Herring Jr said at a briefing on Monday morning.

    Camp Mystic, a nearly century-old Christian girls’ retreat on the banks of the Guadalupe was at the epicenter of the disaster.

    “Our hearts are broken alongside our families that are enduring this unimaginable tragedy,” the camp said in a statement on Monday.

    Richard “Dick” Eastland, 70, Mystic’s co-owner and director, died trying to save children at his camp from the flood, multiple media, including the Austin American-Statesman reported. He and his wife, Tweety Eastland, have owned the camp since 1974, according to its website.

    “If he wasn’t going to die of natural causes, this was the only other way, saving the girls that he so loved and cared for,” Eastland’s grandson, George Eastland, wrote on Instagram.

    MISHAP IN THE SKY

    Authorities lost one of their aviation assets on Monday when a privately operated drone collided in restricted airspace over the Kerr County flood zone with a search helicopter, forcing the chopper to make an emergency landing. No injuries were reported, but the aircraft was put out of commission, according to the Kerr County Sheriff’s Office.

    National Weather Service forecasts on Monday predicted that up to 4 more inches of rain could douse Texas Hill Country, with isolated areas possibly receiving as much as 10 inches (25 cm).

    Allison Santorelli, a meteorologist with the NWS Weather Prediction Center in College Park, Maryland, said the potential for renewed flooding was particularly heightened by the saturated condition of the soil and mounds of debris already strewn around the river channel. A flood watch was posted until 7 p.m.

    State emergency management officials had warned on Thursday, ahead of the July Fourth holiday, that parts of central Texas faced the possibility of flash floods based on National Weather Service forecasts.

    But twice as much rain as was predicted ended up falling over two branches of the Guadalupe just upstream of the fork where they converge, sending all of that water racing into the single river channel where it slices through Kerrville, City Manager Dalton Rice said.

    Rice said the outcome, the result of an unpredictable combination of circumstances, was unforeseen and unfolded in a matter of two hours.

    “Why didn’t we evacuate? Well, evacuation is a delicate balance,” he said in response to reporters’ questions on Monday. “If you evacuate too late, you then risk putting buses, or cars, or vehicles or campers on roads into low-water areas, trying to get them out, which then can make it even more challenging.”

    “It’s very tough to make those calls, because what we also don’t want to do is cry wolf.”

    The chief meteorologist for commercial forecaster AccuWeather, Jonathan Porter, said authorities had ample time to move people to higher ground before the flood struck.

    Rice and other public officials, including Governor Greg Abbott, said the circumstances of the flooding, and the adequacy of weather forecasts and warning systems, would be scrutinized once the immediate situation was brought under control.

    Senate Democratic Leader Chuck Schumer on Monday asked a government watchdog to investigate whether budget cuts imposed by the Trump administration contributed to any delays or inaccuracy in forecasting the floods.

    U.S. Senator Ted Cruz, a Texas Republican, said there would be time to examine whether more could have been done to prevent the loss of life but that now was not the time for “partisan finger-pointing.”

    (Reuters)

  • China warns Trump on tariffs, threatens retaliation on supply chain deals

    Source: Government of India

    Source: Government of India (4)

    China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.

    Washington and Beijing agreed to a trade framework in June that restored a fragile truce, but with many details still unclear, traders and investors on both sides of the Pacific are watching to see if it will unravel or lead to a lasting detente.

    On Monday, President Donald Trump began notifying trade partners of sharply higher U.S. tariffs from August 1, after he delayed all but 10% of his April duties on most countries to give them time to strike deals with the world’s largest economy.

    China, initially singled out with tariffs exceeding 100%, has until August 12 to reach an agreement with the White House to keep Trump from reinstating additional import curbs imposed during tit-for-tat tariff exchanges in April and May.

    “One conclusion is abundantly clear: dialogue and cooperation are the only correct path,” the official People’s Daily said in a commentary, referring to the exchanges in the current round of China-U.S. trade tension.

    The article was signed “Zhong Sheng”, or “Voice of China”, a term the paper uses to express views on foreign policy.

    Reiterating Beijing’s view that Trump’s tariffs amount to “bullying”, the paper added, “Practice has proven that only by firmly upholding principled positions can one truly safeguard one’s legitimate rights and interests.”

    The remarks set the stage for another round of tariff war should Trump stick to what the ruling Communist Party’s official daily said was “a so-called ‘final deadline.’”

    The average U.S. tariff on Chinese exports now stands at 51.1%, while the average Chinese duty on U.S. goods is 32.6%, with both sides covering all their trade, the Peterson Institute for International Economics said.

    The paper also took a swipe at regional economies that are considering striking tariff reduction deals with the United States that cut China out of their supply chains.

    Last week, Vietnam secured a tariff reduction to 20% from 46% with a deal for goods “transshipped” through it, typically originating from China, to be subjected to a levy of 40%.

    “China firmly opposes any side striking a deal that sacrifices Chinese interests in exchange for tariff concessions,” the paper said.

    “If such a situation arises, China will not accept it and will respond resolutely to protect its legitimate interests.”

    (Reuters)

  • Netanyahu meets Trump at White House as Israel, Hamas discuss ceasefire

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump, hosting Israeli Prime Minister Benjamin Netanyahu at the White House on Monday, said the United States had scheduled talks with Iran and indicated progress on a controversial effort to relocate Palestinians out of Gaza.

    Speaking to reporters at the beginning of a dinner between U.S. and Israeli officials, Netanyahu said the United States and Israel were working with other countries who would give Palestinians a “better future,” suggesting that the residents of Gaza could move to neighboring nations.

    “If people want to stay, they can stay, but if they want to leave, they should be able to leave,” Netanyahu said.

    “We’re working with the United States very closely about finding countries that will seek to realize what they always say, that they wanted to give the Palestinians a better future. I think we’re getting close to finding several countries.”

    Trump, who initially demurred to Netanyahu when asked about the relocating of Palestinians, said the countries around Israel were helping out. “We’ve had great cooperation from … surrounding countries, great cooperation from every single one of them. So something good will happen,” Trump said.

    The president earlier this year floated relocating Palestinians and taking over the Gaza Strip to turn it into the “Riviera of the Middle East.” Gazans criticized the proposal and vowed never to leave their homes in the coastal enclave. Human rights groups condemned the plan as ethnic cleansing.

    Trump and Netanyahu met for several hours in Washington while Israeli officials continued indirect negotiations with Hamas aimed at securing a U.S.-brokered Gaza ceasefire and hostage-release deal. Netanyahu returned to the Blair House guest house late on Monday, where he is due to meet Vice President JD Vance at 9:30 EDT on Tuesday.

    Netanyahu’s visit follows Trump’s prediction, on the eve of their meeting, that such a deal could be reached this week. Before heading to Washington, the right-wing Israeli leader said his discussions with Trump could help advance negotiations under way in Qatar between Israel and the Palestinian militant group.

    It was Trump’s third face-to-face encounter with Netanyahu since returning to office in January, and came just over two weeks after the president ordered the bombing of Iranian nuclear sites in support of Israeli air strikes. Trump then helped arrange a ceasefire in the 12-day Israel-Iran war.

    Trump said his administration would be meeting with Iran. “We have scheduled Iran talks, and they … want to talk. They took a big drubbing,” he said.

    Trump’s Middle East envoy Steve Witkoff said the meeting would take place in the next week or so.

    Trump said he would like to lift sanctions on Iran at some point. “I would love to be able to, at the right time, take those sanctions off,” he said.

    Iranian President Masoud Pezeshkian said in an interview released on Monday that he believed Iran could resolve its differences with the United States through dialogue.

    Trump and his aides appeared to be trying to seize on any momentum created by the weakening of Iran, which backs Hamas, to push both sides for a breakthrough in the 21-month Gaza war.

    The two leaders, with their top advisers, held a private dinner in the White House Blue Room, instead of more traditional talks in the Oval Office, where the president usually greets visiting dignitaries.

    Outside, hundreds of protesters, many wearing Palestinian keffiyeh scarves and waving Palestinian flags, gathered near the White House, waving banners that read “Stop Arming Israel” and “Say No to Genocide”. They also called for Netanyahu’s arrest, referring to the International Criminal Court’s arrest warrant against the Israeli leader over alleged war crimes in Gaza.

    Netanyahu met earlier on Monday with Witkoff and Secretary of State Marco Rubio. He planned to visit the U.S. Capitol on Tuesday to see congressional leaders.

    During their meeting, Netanyahu gave Trump a letter that he said he had used to nominate the U.S. president for the Nobel Peace Prize. Trump, appearing pleased by the gesture, thanked him.

    Ahead of their visit, Netanyahu told reporters Israeli negotiators were driving for a deal on Gaza in Doha, Qatar’s capital.

    Israeli officials also hope the outcome of the conflict with Iran will pave the way for normalization of relations with more of its neighbors such as Lebanon, Syria and Saudi Arabia.

    SECOND DAY OF QATAR TALKS

    Witkoff, who played a major role in crafting the 60-day ceasefire proposal at the center of the Qatar negotiations, will travel to Doha this week to join discussions there, White House press secretary Karoline Leavitt told reporters earlier on Monday.

    In a sign of continued gaps between the two sides, Palestinian sources said Israel’s refusal to allow the free and safe entry of humanitarian aid into Gaza remains the main obstacle to progress in the indirect talks. Israel insists it is taking steps to get food into Gaza but seeks to prevent militants from diverting supplies.

    On the second day of negotiations, mediators hosted one round and talks were expected to resume in the evening, the Palestinian sources told Reuters.

    The U.S.-backed proposal envisages a phased release of hostages, Israeli troop withdrawals from parts of Gaza and discussions on ending the war entirely.

    Hamas has long demanded a final end to the war before it would free remaining hostages; Israel has insisted it would not agree to halt fighting until all hostages are released and Hamas dismantled.

    Trump told reporters last week that he would be “very firm” with Netanyahu on the need for a speedy Gaza deal and that the Israeli leader also wanted to end the war.

    Some of Netanyahu’s hardline coalition partners oppose halting military operations but, with Israelis having become increasingly weary of the Gaza war, his government is expected to back a ceasefire if he can secure acceptable terms.

    A ceasefire at the start of this year collapsed in March, and talks to revive it have so far been fruitless. Meanwhile, Israel has intensified its military campaign in Gaza and sharply restricted food distribution.

    Gazans were watching closely for any sign of a breakthrough. “I ask God almighty that the negotiating delegation or the mediators pressure with all their strength to solve this issue, because it has totally became unbearable,” said Abu Suleiman Qadoum, a displaced resident of Gaza city.

    The Gaza war erupted when Hamas attacked southern Israel in October 2023, killing around 1,200 people and taking 251 hostages. Some 50 hostages remain in Gaza, with 20 believed to be alive.

    Israel’s retaliatory war in Gaza has killed over 57,000 Palestinians, according to the enclave’s health ministry. Most of Gaza’s population has been displaced by the war and nearly half a million people are facing famine within months, according to United Nations estimates.

    Trump has been strongly supportive of Netanyahu, even wading into domestic Israeli politics last month by criticizing prosecutors over a corruption trial against the Israeli leader on bribery, fraud and breach-of-trust charges that Netanyahu denies.

    (Reuters)

  • MIL-OSI Security: USS PEARL HARBOR (LSD 52) Sailors perform general quarters drill [Image 3 of 5]

    Source: United States Navy (Logistics Group Western Pacific)

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    PACIFIC OCEAN (July 2, 2025) U.S. Navy Boatswain’s Mate 1st Class Paul Aldana, from Phoenix, Arizona, acts as a scene leader during a general quaters drill on the bridge wing of the Harpers Ferry-class amphibious dock landing ship USS Pearl Harbor (LSD 52) in the Pacific Ocean on July 2, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communication Specialist Seaman Alexander Bussman)

    Date Taken: 07.01.2025
    Date Posted: 07.03.2025 00:12
    Photo ID: 9146381
    VIRIN: 250702-N-RW505-1155
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  • MIL-OSI Security: USS PEARL HARBOR (LSD 52) Sailors perform general quarters drill [Image 3 of 5]

    Source: United States Navy (Logistics Group Western Pacific)

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    PACIFIC OCEAN (July 2, 2025) U.S. Navy Boatswain’s Mate 1st Class Paul Aldana, from Phoenix, Arizona, acts as a scene leader during a general quaters drill on the bridge wing of the Harpers Ferry-class amphibious dock landing ship USS Pearl Harbor (LSD 52) in the Pacific Ocean on July 2, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communication Specialist Seaman Alexander Bussman)

    Date Taken: 07.01.2025
    Date Posted: 07.03.2025 00:12
    Photo ID: 9146381
    VIRIN: 250702-N-RW505-1155
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  • MIL-OSI Security: USS PEARL HARBOR (LSD 52) Sailors perform general quarters drill [Image 3 of 5]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    PACIFIC OCEAN (July 2, 2025) U.S. Navy Boatswain’s Mate 1st Class Paul Aldana, from Phoenix, Arizona, acts as a scene leader during a general quaters drill on the bridge wing of the Harpers Ferry-class amphibious dock landing ship USS Pearl Harbor (LSD 52) in the Pacific Ocean on July 2, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communication Specialist Seaman Alexander Bussman)

    Date Taken: 07.01.2025
    Date Posted: 07.03.2025 00:12
    Photo ID: 9146381
    VIRIN: 250702-N-RW505-1155
    Resolution: 5226×3484
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  • MIL-OSI Security: Commodore, Maritime Component Commander, New Zealand Defence Force Visits COMLOG WESTPAC, July 2, 2025 [Image 1 of 3]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    SINGAPORE (July 2, 2025) Rear Adm. Todd Cimicata, left, Commander, Logistics Group Western Pacific/Task Force 73 (COMLOG WESTPAC/CTF-73), greets Commodore Shane Arndell, Maritime Component Commander, New Zealand Defence Force, during a scheduled visit to Sembawang Naval Installation, July 2, 2025. COMLOG WESTPAC supports deployed maritime forces, along with regional Allies and partners, to sustain Western Pacific operations. (U.S. Navy photo by Mass Communication Specialist 2nd Class Moises Sandoval/Released)

    Date Taken: 07.01.2025
    Date Posted: 07.08.2025 00:44
    Photo ID: 9167912
    VIRIN: 250702-N-ED646-9134
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  • MIL-OSI Security: Commodore, Maritime Component Commander, New Zealand Defence Force Visits COMLOG WESTPAC, July 2, 2025 [Image 1 of 3]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    SINGAPORE (July 2, 2025) Rear Adm. Todd Cimicata, left, Commander, Logistics Group Western Pacific/Task Force 73 (COMLOG WESTPAC/CTF-73), greets Commodore Shane Arndell, Maritime Component Commander, New Zealand Defence Force, during a scheduled visit to Sembawang Naval Installation, July 2, 2025. COMLOG WESTPAC supports deployed maritime forces, along with regional Allies and partners, to sustain Western Pacific operations. (U.S. Navy photo by Mass Communication Specialist 2nd Class Moises Sandoval/Released)

    Date Taken: 07.01.2025
    Date Posted: 07.08.2025 00:44
    Photo ID: 9167912
    VIRIN: 250702-N-ED646-9134
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  • MIL-OSI Security: Commodore, Maritime Component Commander, New Zealand Defence Force Visits COMLOG WESTPAC, July 2, 2025 [Image 1 of 3]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    SINGAPORE (July 2, 2025) Rear Adm. Todd Cimicata, left, Commander, Logistics Group Western Pacific/Task Force 73 (COMLOG WESTPAC/CTF-73), greets Commodore Shane Arndell, Maritime Component Commander, New Zealand Defence Force, during a scheduled visit to Sembawang Naval Installation, July 2, 2025. COMLOG WESTPAC supports deployed maritime forces, along with regional Allies and partners, to sustain Western Pacific operations. (U.S. Navy photo by Mass Communication Specialist 2nd Class Moises Sandoval/Released)

    Date Taken: 07.01.2025
    Date Posted: 07.08.2025 00:44
    Photo ID: 9167912
    VIRIN: 250702-N-ED646-9134
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  • MIL-OSI Security: Commodore, Maritime Component Commander, New Zealand Defence Force Visits COMLOG WESTPAC, July 2, 2025 [Image 3 of 3]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    SINGAPORE (July 2, 2025) Rear Adm. Todd Cimicata, right, Commander, Logistics Group Western Pacific/Task Force 73 (COMLOG WESTPAC/CTF-73), and Commodore Shane Arndell, Maritime Component Commander, New Zealand Defence Force, pose for a photo during a scheduled visit to Sembawang Naval Installation, July 2, 2025. COMLOG WESTPAC supports deployed maritime forces, along with regional Allies and partners, to sustain Western Pacific operations. (U.S. Navy photo by Mass Communication Specialist 2nd Class Moises Sandoval/Released)

    Date Taken: 07.01.2025
    Date Posted: 07.08.2025 00:44
    Photo ID: 9167914
    VIRIN: 250702-N-ED646-1859
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  • MIL-OSI Security: Commodore, Maritime Component Commander, New Zealand Defence Force Visits COMLOG WESTPAC, July 2, 2025 [Image 3 of 3]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    SINGAPORE (July 2, 2025) Rear Adm. Todd Cimicata, right, Commander, Logistics Group Western Pacific/Task Force 73 (COMLOG WESTPAC/CTF-73), and Commodore Shane Arndell, Maritime Component Commander, New Zealand Defence Force, pose for a photo during a scheduled visit to Sembawang Naval Installation, July 2, 2025. COMLOG WESTPAC supports deployed maritime forces, along with regional Allies and partners, to sustain Western Pacific operations. (U.S. Navy photo by Mass Communication Specialist 2nd Class Moises Sandoval/Released)

    Date Taken: 07.01.2025
    Date Posted: 07.08.2025 00:44
    Photo ID: 9167914
    VIRIN: 250702-N-ED646-1859
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  • MIL-OSI Security: Commodore, Maritime Component Commander, New Zealand Defence Force Visits COMLOG WESTPAC, July 2, 2025 [Image 3 of 3]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    SINGAPORE (July 2, 2025) Rear Adm. Todd Cimicata, right, Commander, Logistics Group Western Pacific/Task Force 73 (COMLOG WESTPAC/CTF-73), and Commodore Shane Arndell, Maritime Component Commander, New Zealand Defence Force, pose for a photo during a scheduled visit to Sembawang Naval Installation, July 2, 2025. COMLOG WESTPAC supports deployed maritime forces, along with regional Allies and partners, to sustain Western Pacific operations. (U.S. Navy photo by Mass Communication Specialist 2nd Class Moises Sandoval/Released)

    Date Taken: 07.01.2025
    Date Posted: 07.08.2025 00:44
    Photo ID: 9167914
    VIRIN: 250702-N-ED646-1859
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  • Japan will continue trade talks with US for mutually beneficial deal, Ishiba says

    Source: Government of India

    Source: Government of India (4)

    Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

    Trump on Monday started notifying trade partners, from major suppliers like Japan and South Korea to minor players, of steep U.S. tariff hikes, but later indicated a willingness to delay implementation if countries made acceptable proposals.

    While Tokyo and Washington have yet to reach a deal, Ishiba noted that recent talks had helped Japan avoid even steeper tariffs of around 30-35% as suggested previously by Trump.

    “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said at a meeting with cabinet ministers to discuss Japan’s strategy on tariffs.

    Japan will “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest,” he added.

    Ishiba also asked his cabinet ministers to take steps to mitigate the blow from tariffs on industries and jobs.

    The latest development in the U.S. trade war drove the dollar up to a two-week high of 146.24 yen, potentially lifting already rising import costs.

    Japan failed to clinch a deal with the U.S. before a July 9 expiration of a temporary pause on reciprocal tariffs, due to its focus on eliminating a 25% tariff on automobiles – a mainstay of its export-reliant economy.

    With an upper house election on July 20, Ishiba has repeatedly said Japan will not make “easy concessions” for the sake of an early deal with Washington.

    Recent media polls have shown Ishiba’s ruling coalition may fail to maintain a majority in the upper house, which could complicate trade negotiations, analysts say.

    U.S. tariffs also add to woes for Japan’s economy, which shrank in the first quarter on soft consumption.

    Real wages in May fell at the fastest pace in nearly two years, while the government on Monday made the bleakest assessment on the economy in nearly five years.

    “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%,” said Kazuki Fujimoto, an analyst at Japan Research Institute.

    “If corporate profits worsen, it’s hard to avoid companies from toning down on efforts to hike wages,” he added.

    (Reuters)

  • Japan will continue trade talks with US for mutually beneficial deal, Ishiba says

    Source: Government of India

    Source: Government of India (4)

    Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

    Trump on Monday started notifying trade partners, from major suppliers like Japan and South Korea to minor players, of steep U.S. tariff hikes, but later indicated a willingness to delay implementation if countries made acceptable proposals.

    While Tokyo and Washington have yet to reach a deal, Ishiba noted that recent talks had helped Japan avoid even steeper tariffs of around 30-35% as suggested previously by Trump.

    “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said at a meeting with cabinet ministers to discuss Japan’s strategy on tariffs.

    Japan will “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest,” he added.

    Ishiba also asked his cabinet ministers to take steps to mitigate the blow from tariffs on industries and jobs.

    The latest development in the U.S. trade war drove the dollar up to a two-week high of 146.24 yen, potentially lifting already rising import costs.

    Japan failed to clinch a deal with the U.S. before a July 9 expiration of a temporary pause on reciprocal tariffs, due to its focus on eliminating a 25% tariff on automobiles – a mainstay of its export-reliant economy.

    With an upper house election on July 20, Ishiba has repeatedly said Japan will not make “easy concessions” for the sake of an early deal with Washington.

    Recent media polls have shown Ishiba’s ruling coalition may fail to maintain a majority in the upper house, which could complicate trade negotiations, analysts say.

    U.S. tariffs also add to woes for Japan’s economy, which shrank in the first quarter on soft consumption.

    Real wages in May fell at the fastest pace in nearly two years, while the government on Monday made the bleakest assessment on the economy in nearly five years.

    “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%,” said Kazuki Fujimoto, an analyst at Japan Research Institute.

    “If corporate profits worsen, it’s hard to avoid companies from toning down on efforts to hike wages,” he added.

    (Reuters)

  • Japan will continue trade talks with US for mutually beneficial deal, Ishiba says

    Source: Government of India

    Source: Government of India (4)

    Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

    Trump on Monday started notifying trade partners, from major suppliers like Japan and South Korea to minor players, of steep U.S. tariff hikes, but later indicated a willingness to delay implementation if countries made acceptable proposals.

    While Tokyo and Washington have yet to reach a deal, Ishiba noted that recent talks had helped Japan avoid even steeper tariffs of around 30-35% as suggested previously by Trump.

    “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said at a meeting with cabinet ministers to discuss Japan’s strategy on tariffs.

    Japan will “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest,” he added.

    Ishiba also asked his cabinet ministers to take steps to mitigate the blow from tariffs on industries and jobs.

    The latest development in the U.S. trade war drove the dollar up to a two-week high of 146.24 yen, potentially lifting already rising import costs.

    Japan failed to clinch a deal with the U.S. before a July 9 expiration of a temporary pause on reciprocal tariffs, due to its focus on eliminating a 25% tariff on automobiles – a mainstay of its export-reliant economy.

    With an upper house election on July 20, Ishiba has repeatedly said Japan will not make “easy concessions” for the sake of an early deal with Washington.

    Recent media polls have shown Ishiba’s ruling coalition may fail to maintain a majority in the upper house, which could complicate trade negotiations, analysts say.

    U.S. tariffs also add to woes for Japan’s economy, which shrank in the first quarter on soft consumption.

    Real wages in May fell at the fastest pace in nearly two years, while the government on Monday made the bleakest assessment on the economy in nearly five years.

    “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%,” said Kazuki Fujimoto, an analyst at Japan Research Institute.

    “If corporate profits worsen, it’s hard to avoid companies from toning down on efforts to hike wages,” he added.

    (Reuters)

  • Japan will continue trade talks with US for mutually beneficial deal, Ishiba says

    Source: Government of India

    Source: Government of India (4)

    Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

    Trump on Monday started notifying trade partners, from major suppliers like Japan and South Korea to minor players, of steep U.S. tariff hikes, but later indicated a willingness to delay implementation if countries made acceptable proposals.

    While Tokyo and Washington have yet to reach a deal, Ishiba noted that recent talks had helped Japan avoid even steeper tariffs of around 30-35% as suggested previously by Trump.

    “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said at a meeting with cabinet ministers to discuss Japan’s strategy on tariffs.

    Japan will “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest,” he added.

    Ishiba also asked his cabinet ministers to take steps to mitigate the blow from tariffs on industries and jobs.

    The latest development in the U.S. trade war drove the dollar up to a two-week high of 146.24 yen, potentially lifting already rising import costs.

    Japan failed to clinch a deal with the U.S. before a July 9 expiration of a temporary pause on reciprocal tariffs, due to its focus on eliminating a 25% tariff on automobiles – a mainstay of its export-reliant economy.

    With an upper house election on July 20, Ishiba has repeatedly said Japan will not make “easy concessions” for the sake of an early deal with Washington.

    Recent media polls have shown Ishiba’s ruling coalition may fail to maintain a majority in the upper house, which could complicate trade negotiations, analysts say.

    U.S. tariffs also add to woes for Japan’s economy, which shrank in the first quarter on soft consumption.

    Real wages in May fell at the fastest pace in nearly two years, while the government on Monday made the bleakest assessment on the economy in nearly five years.

    “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%,” said Kazuki Fujimoto, an analyst at Japan Research Institute.

    “If corporate profits worsen, it’s hard to avoid companies from toning down on efforts to hike wages,” he added.

    (Reuters)

  • Amarnath Yatra proceeds smoothly, over 90,000 pilgrims have ‘darshan’ in five days

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been progressing peacefully over the past five days, with the number of pilgrims steadily increasing each day. As of Tuesday, over 90,000 devotees have undertaken the sacred pilgrimage since it commenced on July 3.

    On Tuesday, another batch of 7,541 pilgrims departed for the Kashmir Valley. According to officials, these Yatris left the Bhagwati Nagar Yatri Niwas in Jammu in two escorted convoys.

    “The first escorted convoy, comprising 148 vehicles and carrying 3,321 pilgrims, departed at 2:55 a.m. for the Baltal base camp. The second convoy, consisting of 161 vehicles and 4,220 pilgrims, left at 4:03 a.m. for the Nunwan (Pahalgam) base camp,” said officials.

    In addition to those arriving from Bhagwati Nagar, many pilgrims are reaching the Valley directly and registering on the spot at the transit camps and base camps, according to the Shri Amarnathji Shrine Board (SASB), which oversees the pilgrimage.

    In light of the April 22 terror attack in Pahalgam, authorities have ensured stringent security measures this year. A multi-layered security apparatus has been deployed, with an additional 180 companies of Central Armed Police Forces (CAPFs) supplementing the existing presence of the Army, BSF, CRPF, SSB, and local police. Security forces are stationed across all transit camps and along the entire route from Jammu to the holy cave shrine.

    Local residents have once again extended wholehearted support to the Yatra, reaffirming their long-standing tradition of hospitality. In a poignant gesture following the Pahalgam attack, locals welcomed the first batch of pilgrims at Qazigund – the Valley’s entry point via the Navyug Tunnel – with garlands and placards, expressing solidarity and sorrow.

    This year, the Yatra will continue for 38 days, concluding on August 9, coinciding with the auspicious festivals of Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

  • Amarnath Yatra proceeds smoothly, over 90,000 pilgrims have ‘darshan’ in five days

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been progressing peacefully over the past five days, with the number of pilgrims steadily increasing each day. As of Tuesday, over 90,000 devotees have undertaken the sacred pilgrimage since it commenced on July 3.

    On Tuesday, another batch of 7,541 pilgrims departed for the Kashmir Valley. According to officials, these Yatris left the Bhagwati Nagar Yatri Niwas in Jammu in two escorted convoys.

    “The first escorted convoy, comprising 148 vehicles and carrying 3,321 pilgrims, departed at 2:55 a.m. for the Baltal base camp. The second convoy, consisting of 161 vehicles and 4,220 pilgrims, left at 4:03 a.m. for the Nunwan (Pahalgam) base camp,” said officials.

    In addition to those arriving from Bhagwati Nagar, many pilgrims are reaching the Valley directly and registering on the spot at the transit camps and base camps, according to the Shri Amarnathji Shrine Board (SASB), which oversees the pilgrimage.

    In light of the April 22 terror attack in Pahalgam, authorities have ensured stringent security measures this year. A multi-layered security apparatus has been deployed, with an additional 180 companies of Central Armed Police Forces (CAPFs) supplementing the existing presence of the Army, BSF, CRPF, SSB, and local police. Security forces are stationed across all transit camps and along the entire route from Jammu to the holy cave shrine.

    Local residents have once again extended wholehearted support to the Yatra, reaffirming their long-standing tradition of hospitality. In a poignant gesture following the Pahalgam attack, locals welcomed the first batch of pilgrims at Qazigund – the Valley’s entry point via the Navyug Tunnel – with garlands and placards, expressing solidarity and sorrow.

    This year, the Yatra will continue for 38 days, concluding on August 9, coinciding with the auspicious festivals of Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

  • Amarnath Yatra proceeds smoothly, over 90,000 pilgrims have ‘darshan’ in five days

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been progressing peacefully over the past five days, with the number of pilgrims steadily increasing each day. As of Tuesday, over 90,000 devotees have undertaken the sacred pilgrimage since it commenced on July 3.

    On Tuesday, another batch of 7,541 pilgrims departed for the Kashmir Valley. According to officials, these Yatris left the Bhagwati Nagar Yatri Niwas in Jammu in two escorted convoys.

    “The first escorted convoy, comprising 148 vehicles and carrying 3,321 pilgrims, departed at 2:55 a.m. for the Baltal base camp. The second convoy, consisting of 161 vehicles and 4,220 pilgrims, left at 4:03 a.m. for the Nunwan (Pahalgam) base camp,” said officials.

    In addition to those arriving from Bhagwati Nagar, many pilgrims are reaching the Valley directly and registering on the spot at the transit camps and base camps, according to the Shri Amarnathji Shrine Board (SASB), which oversees the pilgrimage.

    In light of the April 22 terror attack in Pahalgam, authorities have ensured stringent security measures this year. A multi-layered security apparatus has been deployed, with an additional 180 companies of Central Armed Police Forces (CAPFs) supplementing the existing presence of the Army, BSF, CRPF, SSB, and local police. Security forces are stationed across all transit camps and along the entire route from Jammu to the holy cave shrine.

    Local residents have once again extended wholehearted support to the Yatra, reaffirming their long-standing tradition of hospitality. In a poignant gesture following the Pahalgam attack, locals welcomed the first batch of pilgrims at Qazigund – the Valley’s entry point via the Navyug Tunnel – with garlands and placards, expressing solidarity and sorrow.

    This year, the Yatra will continue for 38 days, concluding on August 9, coinciding with the auspicious festivals of Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

  • Amarnath Yatra proceeds smoothly, over 90,000 pilgrims have ‘darshan’ in five days

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been progressing peacefully over the past five days, with the number of pilgrims steadily increasing each day. As of Tuesday, over 90,000 devotees have undertaken the sacred pilgrimage since it commenced on July 3.

    On Tuesday, another batch of 7,541 pilgrims departed for the Kashmir Valley. According to officials, these Yatris left the Bhagwati Nagar Yatri Niwas in Jammu in two escorted convoys.

    “The first escorted convoy, comprising 148 vehicles and carrying 3,321 pilgrims, departed at 2:55 a.m. for the Baltal base camp. The second convoy, consisting of 161 vehicles and 4,220 pilgrims, left at 4:03 a.m. for the Nunwan (Pahalgam) base camp,” said officials.

    In addition to those arriving from Bhagwati Nagar, many pilgrims are reaching the Valley directly and registering on the spot at the transit camps and base camps, according to the Shri Amarnathji Shrine Board (SASB), which oversees the pilgrimage.

    In light of the April 22 terror attack in Pahalgam, authorities have ensured stringent security measures this year. A multi-layered security apparatus has been deployed, with an additional 180 companies of Central Armed Police Forces (CAPFs) supplementing the existing presence of the Army, BSF, CRPF, SSB, and local police. Security forces are stationed across all transit camps and along the entire route from Jammu to the holy cave shrine.

    Local residents have once again extended wholehearted support to the Yatra, reaffirming their long-standing tradition of hospitality. In a poignant gesture following the Pahalgam attack, locals welcomed the first batch of pilgrims at Qazigund – the Valley’s entry point via the Navyug Tunnel – with garlands and placards, expressing solidarity and sorrow.

    This year, the Yatra will continue for 38 days, concluding on August 9, coinciding with the auspicious festivals of Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

  • MIL-OSI China: Echoes of Marco Polo Bridge: China’s unforgettable contributions to World Anti-Fascist War victory

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

    Echoes of Marco Polo Bridge: China’s unforgettable contributions to World Anti-Fascist War victory

    Students attend a ceremony to mark the 88th anniversary of the start of the entire nation’s resistance against Japanese aggression, in Beijing, capital of China, on July 7, 2025. (Xinhua/Cai Yang)

    For the Chinese people, the July 7th Incident in 1937 remains as unforgettable an episode of World War II (WWII) as Nazi Germany’s Blitzkrieg invasion of Poland or Japan’s surprise attack on Pearl Harbor is for Westerners.

    Eighty-eight years ago, on that very day in July, Japanese troops attacked the Chinese garrison at Lugou Bridge, also known as Marco Polo Bridge, located in what is now the Fengtai District of Beijing, under the pretext of searching for a missing Japanese soldier.

    While Japan’s aggression against China began as early as 1931, the July 7th Incident marked its escalation into a full-scale invasion and the start of China’s nationwide resistance.

    No less heinous than fascist war crimes in Europe, such as the killing of at least 1.1 million people by Nazi forces in the Auschwitz concentration camp, Japanese troops inflicted a series of atrocities on innocent Chinese people in the course of their invasion.

    On Dec. 13, 1937, following the capture of then Chinese capital Nanjing, Japanese troops began more than 40 days of slaughter. About 300,000 civilians and unarmed Chinese soldiers were brutally murdered and over 20,000 women raped.

    However, a more united and unyielding China emerged from the burning ashes and rubble caused by Japanese bombardment and gunfire. United as one under the banner of the Chinese united front against Japanese aggression, which was advocated and established by the Communist Party of China, the Chinese people launched a relentless struggle against the brutal Japanese militarists.

    Even in the face of death and destruction, China still strove to preserve its intellectual and cultural vitality. Scholars and students relocated from Japanese-occupied territories to China’s remote southwest, where they rebuilt top-tier institutions, such as the National Southwestern Associated University.

    China was not alone in this anti-fascist struggle. In the darkest hours of the war, the Soviet Volunteer Group, part of the Soviet Air Force, came to Nanjing, Wuhan and Chongqing to fight alongside the Chinese people. Many sacrificed their lives during aerial combat.

    In 1941, the American Volunteer Group, famously known as the Flying Tigers for its winged-tiger emblem, was formed to assist the Chinese Air Force. With a 2,000-plus death toll, these pilots shot down over 2,600 Japanese fighter planes and opened up the Hump Route for transporting emergency supplies.

    In 1942, the Chinese Expeditionary Force, comprising over 100,000 soldiers, was dispatched to Myanmar and India to fight Japanese forces alongside the Allies. During the mission, nearly half of the Chinese soldiers were killed or injured. It strongly supported and coordinated with the Allied campaigns against Japan, as well as the anti-Japanese resistance of the Southeast Asian people.

    Doubtlessly, China played an indispensable role in the World Anti-Fascist War, and their fight started the earliest and lasted the longest. During 14 years of resistance from 1931 to 1945, China engaged and tied down more than two-thirds of Japan’s ground forces — resulting in over 70 percent of Japan’s wartime military casualties.

    This monumental effort greatly supported the United States and the United Kingdom in the Pacific, and enabled the Soviet Union to concentrate on its campaign against Nazi Germany without fear of a Japanese assault from the East.

    However, China’s sacrifice was also staggering. Of the more than 100 million casualties in the global war against fascism, over 35 million were Chinese soldiers and civilians.

    About four months after Victory in Europe Day, Japan formally surrendered aboard the USS Missouri in Tokyo Bay on Sept. 2, 1945 — marking the end of WWII.

    Following the Allied victory, China actively participated in founding the United Nations (UN) and building the post-war international order. China was among the first to sign the UN Charter, which enshrines the principle of sovereign equality and affirms that all nations, irrespective of size, strength or wealth, are equal. That became the cornerstone of the post-war international order.

    Through its contributions and sacrifices during the war, China earned its status as a victorious nation of WWII and a permanent member of the UN Security Council. Therefore, the rights China holds as a WWII victor should be respected and not challenged, especially concerning Taiwan’s restoration to China, which was an integral part of the post-war international order.

    To remember the struggle of past generations is not to perpetuate hatred, but to create a better future for generations to come. Humanity must learn from WWII, resolutely oppose all forms of hegemony and power politics, and firmly uphold the post-war international order — with the UN at its core.

    Today, amid a complex and turbulent international landscape, it is all the more essential to uphold and defend the authority of the UN, firmly uphold the UN-centered international system, the international order underpinned by international law, and the basic norms of international relations based on the purposes and principles of the UN Charter, and steadily promote an equal and orderly multipolar world and universally beneficial and inclusive economic globalization.

    MIL OSI China News –

  • MIL-OSI: Diginex Announces Plans for Eight-for-One Forward Stock Split

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 07, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex” or the “Company”) (NASDAQ: DGNX), a leading provider of Sustainability RegTech solutions, today announced that on July 1, 2025 the Diginex Board of Directors (the “Board”) adopted resolutions recommending that its shareholders approve an eight-for-one (8:1) forward stock split. 

    The Board has scheduled an extraordinary general meeting of its shareholders to be held on July 29, 2025 (the “EGM”) for shareholders of record as of July 3, 2025 (the “Record Date”) to vote on the forward stock split and the filing of a second amended and restated memorandum and articles of association (the “Proposals”). Should the Proposals be approved by shareholders the forward stock split will be effective from August 1, 2025. 

    Should the Proposals be approved at the EGM, (i) each ordinary share of US$0.00005 par value shall be subdivided into eight (8) ordinary shares of US$0.00000625 par value each; (ii) each preferred share of US$0.00005 par value shall be subdivided into eight (8) preferred shares of US$0.00000625 par value each; and (iii) the authorized share capital of the Company shall become US$50,000 divided into 7,680,000,000 ordinary shares of par value US$0.00000625 each and 320,000,000 preferred shares of par value US$0.00000625 each. Any fractional shares, as a result of the forward stock split, will be rounded up. There will be no cash in lieu shares payments.

    The forward stock split is intended to make Diginex’s shares more accessible to a wider range of investors while maintaining the company’s market capitalization.

    “We are pleased to propose this forward stock split, which reflects our commitment to enhancing shareholder accessibility and liquidity,” said Miles Pelham, Chairman and Founder of Diginex. “This move aligns with our strategic goals to broaden our investor base and support the long-term growth of our business.” 

    The forward stock split will not affect the total value of an investor’s holdings of Diginex shares at the time of the forward split. The Notice of the Extraordinary General Meeting, Proxy Statement and Proxy Card has been mailed on or about July 7, 2025, to all shareholders of the Company as of the Record Date. Shareholders can review copies the Notice of the Extraordinary General Meeting, Proxy Statement and Proxy Card at www.sec.gov in the Company’s Form 6-K and at https://www.cstproxy.com/diginex/2025. 

    About Diginex

    Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

    The award-winning diginexESG platform supports 17 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

    For more information, please visit the Company’s website:

    https://www.diginex.com/.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the SEC.

    Diginex
    Investor Relations
    Email: ir@diginex.com 

    IR Contact – Europe
    Anna Höffken
    Phone: +49.40.609186.0
    Email: diginex@kirchhoff.de 

    IR Contact – US
    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global 

    IR Contact – Asia
    Shelly Cheng
    Strategic Financial Relations Ltd.
    Phone: +852 2864 4857
    Email: sprg_diginex@sprg.com.hk 

    The MIL Network –

  • MIL-OSI: Diginex Announces Plans for Eight-for-One Forward Stock Split

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 07, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex” or the “Company”) (NASDAQ: DGNX), a leading provider of Sustainability RegTech solutions, today announced that on July 1, 2025 the Diginex Board of Directors (the “Board”) adopted resolutions recommending that its shareholders approve an eight-for-one (8:1) forward stock split. 

    The Board has scheduled an extraordinary general meeting of its shareholders to be held on July 29, 2025 (the “EGM”) for shareholders of record as of July 3, 2025 (the “Record Date”) to vote on the forward stock split and the filing of a second amended and restated memorandum and articles of association (the “Proposals”). Should the Proposals be approved by shareholders the forward stock split will be effective from August 1, 2025. 

    Should the Proposals be approved at the EGM, (i) each ordinary share of US$0.00005 par value shall be subdivided into eight (8) ordinary shares of US$0.00000625 par value each; (ii) each preferred share of US$0.00005 par value shall be subdivided into eight (8) preferred shares of US$0.00000625 par value each; and (iii) the authorized share capital of the Company shall become US$50,000 divided into 7,680,000,000 ordinary shares of par value US$0.00000625 each and 320,000,000 preferred shares of par value US$0.00000625 each. Any fractional shares, as a result of the forward stock split, will be rounded up. There will be no cash in lieu shares payments.

    The forward stock split is intended to make Diginex’s shares more accessible to a wider range of investors while maintaining the company’s market capitalization.

    “We are pleased to propose this forward stock split, which reflects our commitment to enhancing shareholder accessibility and liquidity,” said Miles Pelham, Chairman and Founder of Diginex. “This move aligns with our strategic goals to broaden our investor base and support the long-term growth of our business.” 

    The forward stock split will not affect the total value of an investor’s holdings of Diginex shares at the time of the forward split. The Notice of the Extraordinary General Meeting, Proxy Statement and Proxy Card has been mailed on or about July 7, 2025, to all shareholders of the Company as of the Record Date. Shareholders can review copies the Notice of the Extraordinary General Meeting, Proxy Statement and Proxy Card at www.sec.gov in the Company’s Form 6-K and at https://www.cstproxy.com/diginex/2025. 

    About Diginex

    Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

    The award-winning diginexESG platform supports 17 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

    For more information, please visit the Company’s website:

    https://www.diginex.com/.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the SEC.

    Diginex
    Investor Relations
    Email: ir@diginex.com 

    IR Contact – Europe
    Anna Höffken
    Phone: +49.40.609186.0
    Email: diginex@kirchhoff.de 

    IR Contact – US
    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global 

    IR Contact – Asia
    Shelly Cheng
    Strategic Financial Relations Ltd.
    Phone: +852 2864 4857
    Email: sprg_diginex@sprg.com.hk 

    The MIL Network –

  • MIL-OSI Economics: Money Market Operations as on July 07, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,13,280.00 5.14 2.00-6.25
         I. Call Money 17,060.89 5.26 4.75-5.35
         II. Triparty Repo 4,00,746.10 5.11 5.00-5.26
         III. Market Repo 1,92,328.36 5.18 2.00-5.60
         IV. Repo in Corporate Bond 3,144.65 5.42 5.32-6.25
    B. Term Segment      
         I. Notice Money** 167.35 5.19 4.85-5.25
         II. Term Money@@ 1,465.00 – 5.30-5.70
         III. Triparty Repo 1,375.00 5.23 5.20-5.25
         IV. Market Repo 1,283.93 5.32 5.28-5.35
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 07/07/2025 1 Tue, 08/07/2025 1,051.00 5.75
    4. SDFΔ# Mon, 07/07/2025 1 Tue, 08/07/2025 2,50,865.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,49,814.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Fri, 04/07/2025 7 Fri, 11/07/2025 1,00,010.00 5.47
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       5,987.11  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -94,022.89  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,43,836.89  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on July 07, 2025 9,30,865.97  
         (ii) Average daily cash reserve requirement for the fortnight ending July 11, 2025 9,52,318.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 07, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 13, 2025 5,62,116.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/674

    MIL OSI Economics –

  • MIL-OSI Economics: Money Market Operations as on July 07, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,13,280.00 5.14 2.00-6.25
         I. Call Money 17,060.89 5.26 4.75-5.35
         II. Triparty Repo 4,00,746.10 5.11 5.00-5.26
         III. Market Repo 1,92,328.36 5.18 2.00-5.60
         IV. Repo in Corporate Bond 3,144.65 5.42 5.32-6.25
    B. Term Segment      
         I. Notice Money** 167.35 5.19 4.85-5.25
         II. Term Money@@ 1,465.00 – 5.30-5.70
         III. Triparty Repo 1,375.00 5.23 5.20-5.25
         IV. Market Repo 1,283.93 5.32 5.28-5.35
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 07/07/2025 1 Tue, 08/07/2025 1,051.00 5.75
    4. SDFΔ# Mon, 07/07/2025 1 Tue, 08/07/2025 2,50,865.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,49,814.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Fri, 04/07/2025 7 Fri, 11/07/2025 1,00,010.00 5.47
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       5,987.11  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -94,022.89  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,43,836.89  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on July 07, 2025 9,30,865.97  
         (ii) Average daily cash reserve requirement for the fortnight ending July 11, 2025 9,52,318.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 07, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 13, 2025 5,62,116.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/674

    MIL OSI Economics –

  • MIL-OSI Economics: [Interview] Staying Cool Without Refrigerants: How Samsung Is Pioneering Next-Generation Peltier Cooling

    Source: Samsung

    On June 28, Samsung Electronics, together with the Johns Hopkins University Applied Physics Laboratory (APL), published a paper on next-generation Peltier cooling technology in the prestigious scientific journal Nature Communications.
     
    The team successfully developed a high-efficiency thin-film semiconductor Peltier device  using nano-engineering technology and demonstrated refrigerant-free cooling, highlighting the potential to deliver outstanding performance without conventional refrigerants.
     
    Previously in 2024, Samsung Electronics opened a new chapter in refrigeration technology through the launch of the Bespoke AI Hybrid Refrigerator, which combines Peltier devices with high-efficiency compressors. Much like a hybrid vehicle, this system intelligently switches between the two cooling methods depending on what best suits the situation.
     
    While the Bespoke AI Hybrid Refrigerator marked a major step forward, the new thin-film Peltier technology developed with Johns Hopkins APL represents a leap into the future.  How will this newly unveiled innovation be applied to home appliances, and how will it shape the cooling technology of tomorrow? To find out, Samsung Newsroom spoke with Sungjin Jung from Samsung Research, who has led the technology’s development, and Hajin Jeong from the DA (Digital Appliances) Business at Samsung Electronics, who is working to integrate it into Samsung’s next-generation refrigerators.
     
    ▲ (From left) Hajin Jeong from the Refrigerator Platform Lab of Samsung Electronics’ DA Business and Sungjin Jung from Samsung Research’s Life Solutions Team
     
     
    Precise Temperature Control With Semiconductor Devices? Understanding the Principles Behind Peltier Cooling Technology
    Conventional refrigerators operate using vapor compression technology. In this system, refrigerant gas is compressed into a liquid and then repeatedly evaporated to absorb and release heat, thereby lowering the internal temperature. While this widely used cooling method has proven effective, the use of refrigerants raises environmental concerns, and there are limitations in reducing power consumption — making it a challenge to carry this approach into the future and adapt it to evolving needs. Additionally, the bulky compressors and complex mechanical components inherent in this system place constraints on refrigerator design.
     
    In contrast, Peltier cooling technology takes a different approach. As a semiconductor-based method that uses electricity to transfer heat, Peltier cooling utilizes the Peltier effect, in which an electric current passing through both ends of a Peltier device  causes one side to absorb heat while the other side releases it.
     
    ▲The Peltier effect
     
    Utilizing the Peltier effect, the surface that absorbs heat and cools can be placed inside the refrigerator, while the surface that releases the absorbed heat can be positioned outside — effectively lowering the internal temperature. The greatest advantage of this method is its precise control of heat flow using only electricity. In addition, its simple structure compared to refrigerant-based mechanical systems allows for greater flexibility in refrigerator design.
     
     
    Advancing Peltier Technology and Expanding Possibilities Through Global Collaboration
    In early 2023, Samsung Electronics ramped up cross-organizational collaboration — bringing together the DA Business, Samsung Research and Global Technology Research — to commercialize Peltier cooling technology and enhance its performance. The DA Business primarily focused on Peltier-technology-based product development, leading to the launch of the Bespoke AI Hybrid Refrigerator in early 2024. Samsung Research and Global Technology Research, meanwhile, drove technological advancement by developing high-performance Peltier devices with improved output and durability.
     
    Around the same time, Samsung Research also initiated global collaboration efforts to pursue breakthroughs in fundamental technologies. In late 2023, it partnered with Johns Hopkins APL in the United States eventually launching an eight-month-long full-scale joint research project in April the following year.
     
    The core objective of this joint research was to leverage Johns Hopkins University’s nano-thin-film Peltier device technology to boost the output of conventional milliwatt-class Peltier devices to several tens of watts, paving the way for a high-efficiency thin-film Peltier system suitable for integration into home appliances.
     
    ▲ Researchers from Samsung Research and Johns Hopkins APL (left); the high-efficiency thin-film Peltier device they co-developed (right)
     
    Over the course of the project, Samsung Electronics particularly demonstrated strengths in system design and packaging technology. As Peltier cooling involves simultaneous heat absorption and heat generation occur simultaneously on opposite sides of the device, performance can drop sharply if the temperature difference between the two sides is not minimized. During the process of applying the nano-thin-film Peltier devices — structured differently compared to conventional ones — directly to refrigerators, challenges such as increased contact thermal resistance, which hindered heat transfer, or unstable performance arose. As a result, packaging solutions that enable efficient heat transfer on both sides of the Peltier device became one of the core components in developing a high-efficiency Peltier cooling system.
     
     
    “We designed a new packaging method to become the world’s first to apply nano-thin-film Peltier devices to refrigerators.”
    – Sungjin Jung, Samsung Research, Samsung Electronics
     
    ▲ Sungjin Jung from Samsung Research
     
    “Through simulations and iterative testing, we identified the root causes of the issues and designed new thermal interface materials (TIM) and assembly techniques to enable efficient heat transfer,” Jung explained.
     
    This newly developed next-generation thin-film Peltier device boasts a cooling efficiency approximately 75% higher than conventional devices. By minimizing heat loss on each side of the Peltier device, the joint research demonstrated the potential for developing high-efficiency cooling appliances using the new technology.
     
     
    Bringing Peltier Cooling Technology Into Everyday Life
    With Samsung Research and Johns Hopkins APL having developed the next-generation Peltier cooling technology, it was now the DA Business’s turn to translate this technology into consumer products.
     
     
    “With this next-generation Peltier cooling technology, we plan to introduce an even more advanced hybrid refrigerator.”
    – Hajin Jeong, DA Business, Samsung Electronics
     
    ▲ Hajin Jeong from the DA Business
     
    In the Bespoke AI Hybrid Refrigerator Samsung launched in 2024, the compressor operates under normal conditions such as routine storage and retrieval, while the Peltier device activates alongside the compressor during high-load situations — like when storing large amounts of groceries or placing hot food inside — thereby enhancing both cooling performance and energy efficiency. Additionally, when defrosting frost inside the cooling unit, the Peltier device remains active, minimizing internal temperature fluctuations during the process.
     
    ▲ In the Samsung Bespoke AI Hybrid Refrigerator, a Peltier device is mounted at the top of the interior, while an AI Inverter Compressor is installed at the bottom.
     
    In sections where both cooling mechanisms operate simultaneously, optimal efficiency hinged on the layout design. “Since the compressor is located at the lower rear, we redesigned the interior structure to position the Peltier device at the top, where it wouldn’t be affected by heat interference,” explained Jeong.
     
    As a result, the refrigerator reduced power consumption by as much as 30% compared to the top grade of Korea’s energy efficiency rating labeling system,1 while also significantly improving its ability to maintain a stable internal temperature.
     
    The DA Business’ vision for hybrid refrigeration continues to evolve. Currently available only in select markets such as Korea, the U.S. and Europe, the company is accelerating joint development with Samsung Research to create models that can operate reliably even in hot and humid tropical regions such as India.
     
    With the application of Samsung’s next-generation Peltier cooling technology, the hybrid refrigerators of tomorrow are expected to deliver even greater cooling performance and energy efficiency. “Integrating this next-generation Peltier cooling technology into our existing hybrid refrigerators will enable more precise temperature control and further reduce power consumption,” said Jeong.
     
     
    Toward a Fully Refrigerant-Free Future
    Peltier cooling is also a technology for a better planet. Refrigerants commonly used in refrigerators can damage the ozone layer and contribute to global warming if released, prompting increasingly strict regulations in the U.S. and Europe. Against this backdrop, Peltier cooling technology is gaining recognition as a versatile, energy-efficient solution.
     
    Samsung Electronics has set a medium- to long-term goal of going beyond hybrid structures to develop a fully refrigerant-free refrigerator powered solely by Peltier cooling technology.
     
    “There’s still considerable research ahead before we can create a fully refrigerant-free refrigerator,” said Sungjin Jung . “Moving forward, we plan to unlock new possibilities in Peltier cooling by integrating other cutting-edge technologies such as AI, semiconductor processing and 3D printing into our work.”
     
    “The DA Business and Samsung Research are working in lockstep from a product development standpoint to perfect this next-generation technology and fast-track its commercialization,” added Hajin Jeong.
     
    ▲ (From left) Sungjin Jung and Hajin Jeong
     
    Samsung Electronics remains committed to not only innovating home appliances, but also transforming  the very paradigm of cooling technology. The future of refrigeration is being shaped by next-generation Peltier cooling — and the evolution is only just beginning.
     
     
    1 Based on the energy efficiency rating of the 2024 Bespoke AI Hybrid Refrigerator model RF91DB90LE**, as registered with the Korea Energy Agency. Compared against the minimum threshold for Grade 1 under the KEA’s energy efficiency rating labeling system.

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