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  • MIL-OSI Submissions: Australia – Strengthening scam protection: Introducing Confirmation of Payee – CBA

    Source: Commonwealth Bank of Australia (CBA)

    In an important step towards enhancing protections against scams and fraud, most retail Australian banks are introducing a new security feature, Confirmation of Payee. This is how it will work alongside CommBank’s existing NameCheck capability, and what that means for CommBank customers, as well as other financial institutions who implement both.

    Key points:

    • This month, CommBank is launching Confirmation of Payee (CoP), an industry name-matching solution designed to help combat scams and mistaken payments.
    • CoP was developed by industry body Australian Payments Plus (AP+) and is being progressively rolled out by most Australian banks this year.
    • CommBank was the first Australian bank to previously introduce a capability on our digital banking platforms to provide an indication to retail and business customers if the payment details they enter on a first-time payment don’t look right.
    • CoP will work alongside CommBank’s security tool NameCheck and together, the two solutions will provide more information to CommBank customers to help them protect themselves against scams and mistaken payments.

    How it works

    CoP builds on New Payments Platform (NPP) infrastructure to match the name entered by the payee with the name held by the receiving bank, when sending a domestic payment via BSB and account number.

    Meanwhile, CommBank’s existing security tool NameCheck searches the account details customers have entered when making a first-time payment in NetBank, the CommBank app or CommBiz[1]. Based on CommBank’s available payment data, NameCheck will then indicate whether the account details look right, taking into account additional factors such as preferred names, nicknames, business trading names and risk activity indicators.

    NameCheck has already saved $650 million in prevented scams and mistaken payments for CommBank customers[2].

    Both NameCheck and CoP are designed to provide additional information to customers when making payments and, together, they help provide CommBank customers with additional protections against scams and mistaken payments.

    CBA will use NameCheck to enrich or augment CoP findings in some cases, for example where CoP data does not cover a given account but NameCheck does, or where NameCheck has well established name derivations that might enhance consumer experience.

    To bring to life how the two technologies will be stronger together, CommBank General Manager Payments Alison Chang used her dad, a Singaporean immigrant whose preferred name differs from his legal name, as the example.

    “My dad is a first-generation immigrant from Singapore. He goes by John*, but his legal name is very different. When someone transfers money into my dad’s account using his nickname rather than the legal name registered with CommBank as his financial institution, NameCheck will create a match based on available payment information and past transaction data, complementing CoP’s analysis of information captured under Know Your Customer obligations.”

    The combined technology will create safer yet seamless payment experiences and will use the same principle to provide information about payments being made to businesses.

    “Businesses often trade under names that vastly differ to those filed with the Australian Business Register. When CommBank retail and small business customers are paying an invoice via NetBank or CommBank app, CoP and NameCheck can help give them confidence that they have entered the BSB and account number correctly – making sure they send money to the right person.

    For CommBank customers, CoP and NameCheck are more powerful together, as NameCheck provides additional activity-based risk warnings, even if the account name matches.

    Why this matters

    Scam activity continues to present a significant threat to Australian consumers and businesses. According to Ms Chang, introducing CoP is part of a concerted effort by the banking sector to combating this threat.

    “Introducing Confirmation of Payee reflects CommBank’s active participation in an industry-wide push to make Australia less attractive to scammers. Over two years, CommBank has seen customer losses from scams drop by 70 per cent, however there is more work to do as scammers’ methods evolve”.

    “Our experience in supporting customers with NameCheck has allowed CBA to provide valuable insights during the industry discussions for the AP+ Confirmation of Payee solution. CommBank has an ongoing commitment to improving customer safety, and CoP will help empower customers to take greater control and help spot a scam before it happens,” Ms Chang added.

    As well as NameCheck, CoP complements CommBank’s other anti-scam measures, for example participation in the Australian Financial Crime Exchange (AFCX) Intelligence Loop and behavioural security technology.

    “We encourage customers to remain vigilant and take steps to protect themselves against scams by staying on top of scam tr

    MIL OSI – Submitted News –

  • MIL-OSI Russia: The fourth Summer School of the NSU Humanitarian Institute opened at NSU

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    Yesterday, the fourth Summer School started at Novosibirsk State University Humanitarian Institute of NSU. This event is for schoolchildren of grades 8-10. The goal of the school is to provide the children with the opportunity to get acquainted with the humanitarian areas that exist at the university and to help them in the future to choose a future specialty. This year, 157 schoolchildren from different regions of Russia – Novosibirsk, Kemerovo, Irkutsk regions, Altai Krai, as well as from the European part of our country – came to the school.

    The rector of NSU, academician of the Russian Academy of Sciences Mikhail Fedoruk took part in the grand opening of the school. He told a little about the history of the university and emphasized that the humanities have always played a major role in the development of the university:

    — Our university is classical, and we are proud of it. At NSU, physicists and lyricists coexist and complement each other. And, of course, the humanitarian and social components play a major role at the university. Currently, more than 30% of students studying at NSU have chosen social and humanitarian fields. Of course, we hope that you will also come to our university in two years. I am sure that, having graduated from our Humanitarian Institute, you will become people we will be proud of in the future. I congratulate you on the opening of the school and wish you fruitful work in the coming week.

    At the orientation session after the opening ceremony, the children were told about the School program, organizational issues and rules, and were introduced to the heads of the areas. Each of the six areas – oriental studies, journalism, history and archeology, computer and applied linguistics, linguistics (foreign languages), linguistics and literary studies – has its own separate training program. It includes expert lectures with current NSU teachers, practical and theoretical classes, as well as excursions. On the last day, July 7, the participants will have an intellectual competition, where they will apply the knowledge they have gained during the week. And the children from each area will be able to demonstrate their abilities and present their own projects.

    — Every year the number of participants increases, the geography expands. We keep the main program grid of the summer school from year to year. First of all, these are expert lectures for all participants regardless of the direction. On the first day, we also organize excursions, when the participants get acquainted with the university, with each other, with the heads of the directions. In the following days, various lectures and workshops are held in each of the directions. During the school, the participants prepare their own projects in which they present what they did during the event, what they learned, what they have learned. On the last day, we have an intellectual competition, and the summer school is actually preparation for this final event, — said Yulia Klimanova, executive secretary of the summer school of the Humanities Institute of NSU.

    During the intellectual competition, participants are divided into teams, which are formed from children of different directions. They participate in a quiz, during which they answer questions on the topic of expert presentations. High results in the intellectual competition allow you to get additional points for participation in the summer school.

    Ekaterina Kotlyarova, a 10th grade student, participant in the “Linguistics and Literary Studies” program, Kemerovo, shared why she decided to participate in the school:

    — It seems to me that literature is quite an interesting subject and science in general. And I would like to promote this science so that people pay more attention to it, because now the number of readers interested in literature is decreasing. I learned about the summer school from my friend who went here last year. She really liked it. I looked at the school schedule, the days are busy, I really want to attend lectures, listen to the professors. I am sure that it will be very interesting.

    Based on the results of the summer school, the children who have achieved the highest results are awarded diplomas for 1st, 2nd or 3rd place, and each schoolchild also receives a participant certificate. The winners’ diplomas can be taken into account as individual achievements when applying for training programs at the NSU Humanities Institute; the results can be taken into account two years before admission.

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

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: LCQ8: Safety and health at work in confined spaces

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Chau Siu-chung and a written reply by the Secretary for Labour and Welfare, Mr Chris Sun, in the Legislative Council today (July 2):
     
    Question:
     
         Regarding safety and health at work in confined spaces, will the Government inform this Council:

    (1) given that the Code of Practice for Safety and Health at Work in Confined Spaces (CoP) was revised last year by adding, among others, the requirement for proprietors or contractors to record videos at the entrance and exit of the confined spaces throughout the entire work period, of the number of work sites involving confined space operations that have been inspected since the revision of the CoP, and whether any violations of the CoP by proprietors or contractors have been identified during the inspections; if so, of the main nature of such violations, and the numbers of written warnings, suspension notices, and improvement notices issued in response to such violations, as well as the number of prosecutions initiated; among these prosecutions, of the number of convictions and the penalties imposed;
     
    (2) given that the Occupational Safety and Health Council (OSHC) launches the “OSH Enhancement Scheme for SMEs for Safe Work at Confined Space 2.0” (Enhancement Scheme) to subsidise eligible small and medium enterprises for purchasing equipment such as gas detectors and man-down alarm devices, of the number of application quotas available under the Enhancement Scheme and the numbers of applications received, approved, and rejected by the OSHC in each of the past three years and this year to date, with a breakdown by nature of business of the enterprise (e.g. drainage services, construction, and mechanical and electrical engineering); of the average amount of subsidy for the approved applications (set out by new applicants and enterprises previously subsidised), and the main reasons for applications being rejected; 
    (4) of the progress of the investigation to identify the causes of the fatal industrial accident involving a manhole that occurred on Yuen Wo Road in Sha Tin on April 22 last year, and whether prosecution has been initiated against those held liable for the accident; if so, of the details;
     
    (5) as it is reported that the authorities indicated last year that they would study the possibility of including clauses in sewer cleaning contracts to stipulate that if workers who are originally not supposed to enter a manhole subsequently need to do so, the Drainage Services Department must be informed and its approval had to be obtained in advance, of the progress made in this regard;
     
    (6) given that according to a paper submitted by the Government to the Panel on Manpower of this Council in June 2022, the Labour Department (LD) has established a notification system with key government departments/statutory bodies responsible for drainage works (including the Airport Authority Hong Kong, the Housing Department, the Highways Department and the Drainage Services Department), under which these government departments/statutory bodies will notify the LD of the date and time of all their drainage works or underground pipeworks that require workers to enter confined spaces, so as to facilitate surprise inspections by the LD as appropriate according to a risk-based strategy, of the number of works notified by these government departments/statutory bodies in each year since the establishment of the notification system, and the number of these works that have been inspected by the LD, with a breakdown by the notifying government department/statutory body; during these inspections, whether there are any cases where contractors were found to have violated the CoP and/or relevant OSH legislation (including the Factories and Industrial Undertakings (Confined Spaces) Regulation (Cap. 59AE), the Factories and Industrial Undertakings Ordinance (Cap. 59), and the Occupational Safety and Health Ordinance (Cap. 509)); if so, of the details, including the number of cases and their nature, as well as the follow-up actions taken, with a breakdown by the notifying government department/statutory body; and
     
    (7) whether it will consider establishing a mandatory reporting mechanism for work in confined spaces, requiring contractors to report prior to commencing higher-risk work in confined space, so as to facilitate the authorities to arrange targeted inspections to enhance the safety of frontline workers? 
    President,
     
       Having consulted the Drainage Services Department (DSD), my consolidated reply to the Hon Chau Siu-chung’s question is as follows:

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Family plea for cold case closure

    Source: New South Wales – News

    Following decades of heartache, the family of Melissa Trussell (Brown) have joined police in a renewed call for information regarding the historic disappearance of the 15-year-old, and unsolved murder of her mother, Rosemary.

    Rosemary Brown, 33, along with her daughter Melissa, were last seen leaving their Blair Athol home at about 2.30am on Saturday 13 May, 2000.

    Today marks exactly 25 years since Rosemary’s body was discovered in the mangroves at Garden Island on 2 July 2000. Melissa’s remains have never been found.

    Detective Superintendent Darren Fielke, Officer in Charge of Major Crime Investigation Branch urged anyone with information, no matter how insignificant it may seem, to come forward.

    “This is a particularly disturbing case. A mother was murdered and her body disposed of.  We believe Melissa was also murdered,” he said.

    “It’s tragic for the family of Rosemary and Melissa to experience this long passage of time with no answers about what happened to their loved ones.

    “I have no doubt that numerous people either know what happened to Rosemary and Melissa or have information that will assist the investigation into their suspected murder.

    “We appeal to them to contact police and provide that information.”

    South Australia Police (SAPOL) investigators have today released additional childhood photos of Melissa as part of a renewed public plea for information.

    Recently visiting their last believed location – Stirling Street, Northfield – Melissa’s father Barry and half-sister Kayla reminisced on childhood memories regarding Melissa, while expressing their desire for closure.

    Describing Melissa as her “best friend”, Kayla hoped to one day give her the farewell she deserves.

    “We need to know where she is and what happened to her,” she pleaded.

    “We want to see the person or people who have caused our pain brought to justice.”

    Barry echoed Kayla’s appeal for answers 25 years on.

    “My message to the people responsible, because I don’t believe it to be just one person: it’s better to come forward now with information,” he said.

    “A parent shouldn’t outlive their child… and for a long time (Melissa’s disappearance) has messed me up.

    “I’m hoping some fresh information will finally come to light to help police solve the case.”

    Anyone with information is asked to contact Crime Stoppers on 1800 333 000 or online at www.crimestopperssa.com.au – you can remain anonymous.

    Rewards up to $1,000,000 will be paid by the Government of South Australia, at the discretion of the Commissioner of Police, to anyone who provides information and assistance that leads to the conviction of the person or persons responsible for the suspected murder of Melissa Trussell (Brown) (and/or leading to the location and recovery of the victim’s remains).

    Rewards up to $200,000 will be paid by the Government of South Australia, at the discretion of the Commissioner of Police, to anyone who provides information and assistance that leads to the conviction of the person or persons responsible for the suspected murder of Rosemary Brown.

    Edited footage

    Raw media footage

    MIL OSI News –

  • MIL-OSI Australia: Ready, steady, tax time!

    Source: New places to play in Gungahlin

    We know running a small business is serious business and we want to make it as easy as possible for you to get your tax right, the first time. There are a few things you can do to prepare for the end of the financial year, whether you’re lodging yourself or using a tax professional.

    Get set up

    Online services for business is your central hub for managing tax and super online. To set up your access, you’ll need to:

    • download and set up your myID, the Australian Government’s Digital ID app
    • link your myID to your ABN in Relationship Authorisation Manager (RAM).

    Tip: if you’re a sole trader, you can use ATO online services through myGov to engage with us. For more secure and flexible access, we recommend signing in with myID.

    Declare everything

    Make sure you declare all your business income – even non-monetary payments like goods or services you’ve received in exchange for your work. It all counts.

    Understand losses

    Business losses and non-commercial losses aren’t the same thing. Knowing the difference can impact how you report and carry forward losses, so it’s worth getting your head around it to get your tax right.

    Keep track of private use

    If you’ve used business money for personal expenses, keep clear records. It’s important to separate business activities and expenses from personal ones to avoid headaches later.

    Nominate your tax agent

    Using a tax agent? Make sure you nominate them in Online services for business. They won’t be able to access your information or act on your behalf until you’ve authorised them.

    Deductions: remember the 3 golden rules

    1. The expense must have been for your business, and not for private use.
    2. If the expense is for a mix of business and private use, you can only claim the portion that is used for your business.
    3. You must have records or receipts to prove it.

    Cash vs accruals: know your method

    The income you receive from running your small business will be assessable for tax purposes. How you account for income affects what you report:

    • Cash basis: Report income when you receive the payment – even if the work was done earlier.
    • Accruals basis: Report income when you earn it – even if you haven’t been paid yet.

    Don’t miss out on deductions and concessions

    Now is a great time to check if you’re eligible for any deductions or concessions when lodging your income tax return. You might be able to take advantage of:

    These can make a real difference to your bottom line – so it’s worth checking what applies to your business.

    We have a range of resources, tools and services available to help you get it right this tax time, including the 2025 Tax Time toolkit for small business.

    Keep up to date

    We’ve set up tailored communication channels for small businesses. They will keep you updated on important information and changes.

    Read more articles in our Small business newsroom.

    Subscribe to our free to our monthly Small business email newsletterExternal Link.

    Get email notifications about new and updated information on our website. You can choose to receive updates that matter to you. Select the ‘Business and organisations’ category. This way, your subscription will get notifications for more Small business newsroom articles like this one.

    MIL OSI News –

  • MIL-OSI: MMP Capital Drives Significant Growth in Equipment Financing Services

    Source: GlobeNewswire (MIL-OSI)

    MMP Capital’s New Hampshire office has driven notable growth in diverse industries like printing, dental, and manufacturing. The company increased direct lending capabilities, achieving faster approvals and customized financing. Plans include expanding its New York facility and refining partnership strategies for optimal service.

    Photo Courtesy of MMP Capital

    FARMINGDALE, New York, July 01, 2025 (GLOBE NEWSWIRE) — MMP Capital, a leading private lending company specializing in equipment financing and small business lending, has reported substantial growth this year. The expansion of additional satellite offices in New Hampshire and Massachusetts marks the company’s first offices outside its Long Island headquarters and has already delivered noteworthy results in diversifying the company’s portfolio beyond its traditional healthcare focus.

    The New Hampshire office has rapidly expanded MMP Capital’s presence in several key industries, including printing, dental, franchises, metal fabrication, construction, yellow iron, and manufacturing. This growth aligns with the company’s strategic vision to strengthen its position as a versatile equipment financing provider while maintaining its established leadership in the aesthetic medical healthcare sector.

    “Since opening our Portsmouth office in February, we’ve experienced exceptional growth in our non-healthcare financing portfolio. The office has been a haven for talented people who were looking for a dynamic environment to further their career, and have found success with MMP Capital,” said Jim Siederman, Executive Vice President of MMP Capital. “The New Hampshire team has exceeded our expectations, bringing on new customers across diverse industries and upholding our commitment to customer service excellence. This expansion represents geographic growth and a significant broadening of our market reach. We are getting bombarded with new resumes and have plans to expand the size of the office in 2026 to continue to feed the growth.”

    MMP Capital operates as a hybrid lender, lending directly from its capital resources and working through a network of syndication partners when appropriate. The company has recently increased its balance sheet lending capabilities, allowing for greater control over the lending process and enabling more customized financing solutions for clients.

    “One of our strategic priorities this year has been increasing the percentage of direct lending we provide,” explained President & CEO, John-Paul Smolenski. “This gives us more control over the entire customer experience, from approval application. With our expanded team in the Northeast, we can offer faster approvals, more flexible terms, and dedicated account executives who understand the industries they serve. We could not have done it without the support of good partners at Deutsche Bank and Brean Capital, who have been integral in our success.”

    The success of the New England offices comes at a time of significant overall growth for MMP Capital. The company recently announced record-setting performance in late 2024, with total production reaching $55 million in December originations alone. This momentum has continued into 2025, with originations growing at close to 40% YOY companywide.

    The company has also announced plans to expand its Long Island HQ in the third quarter of 2025, creating additional capacity for their growing sales and operations teams in a new 25,000 sq ft office in Melville, Long Island. This organic growth reflects MMP Capital’s continued commitment to scaling its services while maintaining personalized attention to clients.

    “The timing is perfect, as the macro economy is starting to take off after the last few years of turmoil. Small Business owners are extremely excited about what the future holds. As we continue to grow, we are becoming increasingly selective about our lending partnerships,” added Smolenski. “We’re moving away from syndication partners who don’t fully align with our commitment to customer service excellence. When we realized that 95% of customer complaints came from poor experiences from the post-sale assignment of two funding sources. Once we identified those two funding sources, it was a no brainer to sever relations with them. This strategic shift allows us to maintain consistent, high-quality service throughout the financing process, from application to final payment. Our high-end clients can go anywhere they want for financing, but are loyal to MMP Capital due to our convenience, and high levels of personal service.”

    About MMP Capital

    MMP Capital was founded in 2013 with a mission to be the gold standard in healthcare equipment finance in the U.S. Led by a management team with vast experience in sales, credit, and operations from several banks, leasing companies, and funding institutions, MMP Capital is uniquely equipped as a hybrid lender to lend directly or utilize a vast syndication outlet.

    The company’s financing options for equipment financing, leasing, and unsecured capital offer U.S. businesses the opportunity to invest in their future, update outdated technology, or offer new services to customers.

    Contact Information

    Jamie O’Connor
    Director of Marketing & Branding
    MMP Capital
    joconnor@mmpcapital.com
    https://mmpcapital.com/
    o: (516) 308‑6946 | m: (917) 902‑7595 | f: (516) 400‑2071

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b87b1caf-0f48-46e8-9905-f04f0c26e778

    The MIL Network –

  • MIL-OSI: EQV Ventures Acquisition Corp. II Announces the Pricing of Upsized $420 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    PARK CITY, UTAH, July 01, 2025 (GLOBE NEWSWIRE) — EQV Ventures Acquisition Corp. II (the “Company”), a special purpose acquisition company sponsored by an affiliate of the EQV Group, and formed for the purpose of entering into a business combination with one or more businesses, announced today the pricing of its initial public offering of 42,000,000 units, upsized from 35,000,000 units, at a price of $10.00 per unit. The units are expected to be listed on the New York Stock Exchange (“NYSE”) and begin trading tomorrow, July 2, 2025, under the ticker symbol “EVACU.”

    Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NYSE under the ticker symbols “EVAC” and “EVACW,” respectively.

    BTIG, LLC is acting as sole book-running manager for the offering.

    The Company has granted the underwriter a 45-day option to purchase up to an additional 6,300,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on July 3, 2025, subject to customary closing conditions.

    The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, Attn: Syndicate Department, or by email at ProspectusDelivery@btig.com.

    Registration statements relating to these securities have been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on July 1, 2025. 

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering, the anticipated use of the net proceeds, and the search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated.

    Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Investor Contacts

    IR@eqvventures.com

    The MIL Network –

  • MIL-OSI Economics: Money Market Operations as on July 01, 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) 6,81,010.53 5.20 3.95-6.50
         I. Call Money 16,015.92 5.31 4.75-5.40
         II. Triparty Repo 4,61,298.45 5.19 4.50-5.30
         III. Market Repo 2,00,852.61 5.21 3.95-5.50
         IV. Repo in Corporate Bond 2,843.55 5.49 5.40-6.50
    B. Term Segment      
         I. Notice Money** 54.50 5.27 5.15-5.32
         II. Term Money@@ 1,110.50 – 5.60-6.00
         III. Triparty Repo 5,503.90 5.22 5.15-5.40
         IV. Market Repo 247.46 5.40 5.40-5.40
         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# Tue, 01/07/2025 1 Wed, 02/07/2025 1,233.00 5.75
    4. SDFΔ# Tue, 01/07/2025 1 Wed, 02/07/2025 2,55,381.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,54,148.00  
    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, 27/06/2025 7 Fri, 04/07/2025 84,975.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,247.29  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -77,727.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,31,875.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on July 01, 2025 10,06,563.07  
         (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 01, 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: 2025-2026/640

    MIL OSI Economics –

  • MIL-OSI Economics: Money Market Operations as on July 01, 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) 6,81,010.53 5.20 3.95-6.50
         I. Call Money 16,015.92 5.31 4.75-5.40
         II. Triparty Repo 4,61,298.45 5.19 4.50-5.30
         III. Market Repo 2,00,852.61 5.21 3.95-5.50
         IV. Repo in Corporate Bond 2,843.55 5.49 5.40-6.50
    B. Term Segment      
         I. Notice Money** 54.50 5.27 5.15-5.32
         II. Term Money@@ 1,110.50 – 5.60-6.00
         III. Triparty Repo 5,503.90 5.22 5.15-5.40
         IV. Market Repo 247.46 5.40 5.40-5.40
         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# Tue, 01/07/2025 1 Wed, 02/07/2025 1,233.00 5.75
    4. SDFΔ# Tue, 01/07/2025 1 Wed, 02/07/2025 2,55,381.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,54,148.00  
    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, 27/06/2025 7 Fri, 04/07/2025 84,975.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,247.29  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -77,727.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,31,875.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on July 01, 2025 10,06,563.07  
         (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 01, 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: 2025-2026/640

    MIL OSI Economics –

  • PM Modi sets off on landmark 5-nation tour, eager to engage with global leaders

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday embarked for Accra, Ghana, marking the first leg of his five-nation tour aimed at reinforcing India’s global partnerships, with a focus on strengthening bonds across the Global South and both sides of the Atlantic.

    The tour includes visits to Ghana, Trinidad &amp, Tobago, Argentina, Brazil and Namibia- nations that PM Modi described as vital partners in India’s evolving foreign policy architecture, spanning historical ties, cultural linkages, economic engagement and multilateral cooperation.

    In his departure statement, PM Modi said, “At the invitation of President John Dramani Mahama, I will visit Ghana on July 2-3. Ghana is a valued partner in the Global South and plays an important role in the African Union and the Economic Community of West African States.”

    He expressed anticipation about deepening bilateral cooperation in areas, including investment, energy, health, security, and development partnership. “As fellow democracies, it will be an honour to speak at the Parliament of Ghana,” he said.

    The Prime Minister will then travel to Trinidad &amp, Tobago from July 3-4, a country he said shares “deep-rooted historical, cultural and people-to-people connect” with India.

    “I will meet President Christine Carla Kangaloo, who was the Chief Guest at this year’s Pravasi Bharatiya Divas, and Prime Minister Kamla Persad-Bissessar, who has recently assumed office for the second term,” he noted.

    Highlighting the longstanding diaspora bond, PM Modi recalled, “Indians first arrived in Trinidad and Tobago 180 years ago. This visit will provide an opportunity to rejuvenate the special bonds of ancestry and kinship that unite us.”

    From Port of Spain, PM Modi will head to Buenos Aires, marking the first bilateral visit by an Indian Prime Minister to Argentina in 57 years.

    Calling Argentina “a key economic partner in Latin America and a close collaborator in the G20,” he said, “I look forward to my discussions with President Javier Milei, whom I also had the pleasure of meeting last year. We will focus on advancing our mutually beneficial cooperation, including in the areas of agriculture, critical minerals, energy, trade, tourism, technology, and investment.”

    Following Argentina, the Prime Minister will participate in the BRICS Summit in Rio de Janeiro on July 6-7. Emphasising India’s foundational role in the bloc, he said, “As a founding member, India is committed to BRICS as a vital platform for cooperation among emerging economies. Together, we strive for a more peaceful, equitable, just, democratic and balanced multipolar world order.”

    PM Modi also confirmed he will meet with several world leaders on the sidelines of the summit. The visit to Brazil will continue with a bilateral state visit to Brasilia, the first by an Indian Prime Minister in nearly six decades.

    “This visit will provide an opportunity to strengthen our close partnership with Brazil, and work with my friend, President Luiz Inacio Lula da Silva, on advancing the priorities of the Global South,” he said.

    The final leg of PM Modi’s tour will take him to Namibia, which he described as “a trusted partner with whom we share a common history of struggle against colonialism.” The Prime Minister said he is looking forward to meeting President Netumbo Nandi-Ndaitwah and “charting a new roadmap for cooperation for the benefit of our peoples, our regions and the wider Global South.” He will also address the Joint Session of the Namibian Parliament.

    PM Modi expressed optimism about the outcomes of his multi-nation tour, stating, “I am confident that my visits to the five countries will reinforce our bonds of friendship across the Global South, strengthen our partnerships on both sides of the Atlantic, and deepen engagements in the multilateral platforms such as BRICS, the African Union, ECOWAS and the CARICOM.” (IANS)

  • PM Modi sets off on landmark 5-nation tour, eager to engage with global leaders

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday embarked for Accra, Ghana, marking the first leg of his five-nation tour aimed at reinforcing India’s global partnerships, with a focus on strengthening bonds across the Global South and both sides of the Atlantic.

    The tour includes visits to Ghana, Trinidad &amp, Tobago, Argentina, Brazil and Namibia- nations that PM Modi described as vital partners in India’s evolving foreign policy architecture, spanning historical ties, cultural linkages, economic engagement and multilateral cooperation.

    In his departure statement, PM Modi said, “At the invitation of President John Dramani Mahama, I will visit Ghana on July 2-3. Ghana is a valued partner in the Global South and plays an important role in the African Union and the Economic Community of West African States.”

    He expressed anticipation about deepening bilateral cooperation in areas, including investment, energy, health, security, and development partnership. “As fellow democracies, it will be an honour to speak at the Parliament of Ghana,” he said.

    The Prime Minister will then travel to Trinidad &amp, Tobago from July 3-4, a country he said shares “deep-rooted historical, cultural and people-to-people connect” with India.

    “I will meet President Christine Carla Kangaloo, who was the Chief Guest at this year’s Pravasi Bharatiya Divas, and Prime Minister Kamla Persad-Bissessar, who has recently assumed office for the second term,” he noted.

    Highlighting the longstanding diaspora bond, PM Modi recalled, “Indians first arrived in Trinidad and Tobago 180 years ago. This visit will provide an opportunity to rejuvenate the special bonds of ancestry and kinship that unite us.”

    From Port of Spain, PM Modi will head to Buenos Aires, marking the first bilateral visit by an Indian Prime Minister to Argentina in 57 years.

    Calling Argentina “a key economic partner in Latin America and a close collaborator in the G20,” he said, “I look forward to my discussions with President Javier Milei, whom I also had the pleasure of meeting last year. We will focus on advancing our mutually beneficial cooperation, including in the areas of agriculture, critical minerals, energy, trade, tourism, technology, and investment.”

    Following Argentina, the Prime Minister will participate in the BRICS Summit in Rio de Janeiro on July 6-7. Emphasising India’s foundational role in the bloc, he said, “As a founding member, India is committed to BRICS as a vital platform for cooperation among emerging economies. Together, we strive for a more peaceful, equitable, just, democratic and balanced multipolar world order.”

    PM Modi also confirmed he will meet with several world leaders on the sidelines of the summit. The visit to Brazil will continue with a bilateral state visit to Brasilia, the first by an Indian Prime Minister in nearly six decades.

    “This visit will provide an opportunity to strengthen our close partnership with Brazil, and work with my friend, President Luiz Inacio Lula da Silva, on advancing the priorities of the Global South,” he said.

    The final leg of PM Modi’s tour will take him to Namibia, which he described as “a trusted partner with whom we share a common history of struggle against colonialism.” The Prime Minister said he is looking forward to meeting President Netumbo Nandi-Ndaitwah and “charting a new roadmap for cooperation for the benefit of our peoples, our regions and the wider Global South.” He will also address the Joint Session of the Namibian Parliament.

    PM Modi expressed optimism about the outcomes of his multi-nation tour, stating, “I am confident that my visits to the five countries will reinforce our bonds of friendship across the Global South, strengthen our partnerships on both sides of the Atlantic, and deepen engagements in the multilateral platforms such as BRICS, the African Union, ECOWAS and the CARICOM.” (IANS)

  • MIL-OSI Asia-Pac: LCQ13: Admission of sports professionals

    Source: Hong Kong Government special administrative region

    LCQ13: Admission of sports professionals 
    Question:
     
         It has been reported that in recent years, several international and Mainland sports stars have come to Hong Kong for development or settlement one after another through the Quality Migrant Admission Scheme (QMAS) or the Top Talent Pass Scheme (TTPS). There are views that Hong Kong possesses the advantage of attracting sports talent, and the Government should further assist sports professionals coming to Hong Kong for development, so as to promote the development of Hong Kong’s sports industry. In this connection, will the Government inform this Council:
     
    (1) of the number of overseas and Mainland sports professionals who have applied over the past five years for coming to Hong Kong for development through QMAS and TTPS respectively, and among them, the number of applications approved, together with a breakdown by the sports disciplines in which the professionals are involved; whether it has compiled statistics on the employment status of professionals in Hong Kong in the approved cases;
     
    (2) when sports professionals have come to Hong Kong through QMAS or TTPS, how the Hong Kong Talent Engage will follow up on their development and needs in Hong Kong (including support services and development strategies (if any) provided to such professionals);
     
    (3) as it has been reported that several world-renowned billiard players have become Hong Kong residents one after another through QMAS over the past year, whether the authorities will consider launching further initiatives to assist these billiard players in promoting billiards or developing their careers in billiards in Hong Kong, such as opening billiard saloons or training programs, so as to help Hong Kong become an “international billiard hub”; and
     
    (4) whether it will consider optimising QMAS or TTPS, or providing incentives (such as providing tax concessions to international sports stars or sports professionals coming to Hong Kong on a short-term or long-term basis), so as to attract more international sports talent to come to Hong Kong for development?

    Reply:
     
    President,
     
         To build Hong Kong into an international hub for high-calibre talent, the Government has been implementing various talent admission schemes with different positioning to proactively trawl for talent with diversified backgrounds to come to Hong Kong to build a quality talent pool for meeting Hong Kong’s development needs.
     
         Among them, the Achievement-based Points Test (APT) under the Quality Migrant Admission Scheme (QMAS) aims to attract individuals with exceptional talents or skills, as well as outstanding achievements, to come to Hong Kong for settlement. To be eligible for APT, the applicant must have received an award of exceptional achievement (e.g. Olympic medal, Nobel prize, national/international award) or can show that his/her work has been acknowledged by his/her peers or have contributed significantly to the development of his/her field (e.g. lifetime achievement award from industry). Successful applicants will normally be granted a stay of eight years upon first entry. In the past, the majority of international and Mainland sports celebrities who had won awards in major sports events and had come to Hong Kong for development were admitted through the above channel.
     
         Our reply to the Member’s questions, in consultation with the Culture, Sports and Tourism Bureau and the Immigration Department (ImmD), is as follows:
     
    (1) In the past five years (from 2020 to 2024), among the approved cases that have successfully passed the selection exercise under the QMAS, a total of 42 retired or serving athletes have been approved to come to Hong Kong under the APT, including Olympic medalists, Asian Games medalists, and winners of other international sports events.
     
         As the Top Talent Pass Scheme (TTPS) aims to attract individuals with high income or full-time bachelor’s degree from top universities/institutions around the world, the ImmD does not have the number of applications from retired/serving athletes.
     
         Persons admitted to Hong Kong under the QMAS or the TTPS are not required to have secured offers of employment before coming to Hong Kong. During the validity period of the first visa, the talent are not required to inform the ImmD when they are employed or have established/joined in business in Hong Kong. When applying for extension of stay, successful applicants under the TTPS are required to provide the ImmD with concrete supporting information and documents to prove that they have been employed or have established/joined in business in Hong Kong so that an extension of stay can be granted. The ImmD does not maintain statistics on the employment situation of successful applicants under the above two schemes when they first arrived in Hong Kong, as well as other statistical breakdowns mentioned in the question.
     
    (2) Since its establishment on October 30, 2023, Hong Kong Talent Engage (HKTE) has been providing comprehensive one-stop support to talent coming to / staying in Hong Kong under the various talent admission schemes (including the TTPS and the QMAS) through both online and offline means. Apart from providing comprehensive information on living and working in Hong Kong as well as handling enquiries from outside talent through its online platform (www.hkengage.gov.hk 
         Earlier on, many internationally renowned sports professionals (such as Judd Trump, the world’s number one snooker player, and Stephon Marbury, former National Basketball Association (NBA) player) have settled in Hong Kong. HKTE has invited them to participate in promotional activities to give first-hand sharing of their reasons for coming to Hong Kong, thereby promoting Hong Kong’s unique strengths and development opportunities to attract more global talent with diverse backgrounds to pursue development in Hong Kong.
     
    (3) Several internationally renowned snooker players have settled in Hong Kong, drawing public attention and interest for the sport. The Government will actively promote the development of local billiard sports, maintain connections with top snooker players pursuing development in Hong Kong, and provide appropriate support when needed to foster the development of billiard sports in Hong Kong together.
     
         The Government is committed to sports development through the five policy objectives of promoting sports in the community, supporting elite sports, maintaining Hong Kong as a centre for major international sports events, enhancing professionalism, and developing sports as an industry. For the promotion of community sports, the Government organises various types of recreation and sports activities and encourages public participation to cultivate a strong sporting culture in the community, helping them develop a healthy lifestyle.
     
         The Government will continue to devote resources to expand the audience base of sports enthusiasts (including snooker fans) and support the organisation of major sports events through the “M” Mark System. The Major Sports Events Committee awarded the “M” Mark status to the World Snooker Grand Prix 2025 in March this year. It was the first time for the event to be held outside the United Kingdom. In addition to promoting the development of billiard sports in Hong Kong, the event also underlines Hong Kong’s status as the centre for major international sports events.Issued at HKT 11:22

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Distrust in AI is on the rise – but along with healthy scepticism comes the risk of harm

    Source: The Conversation (Au and NZ) – By Simon Coghlan, Senior Lecturer in Digital Ethics, Deputy Director Centre for AI and Digital Ethics, School of Computing and Information Systems, The University of Melbourne

    PlayStation/StaminaZero/YouTube

    Some video game players recently criticised the cover art on a new video game for being generated with artificial intelligence (AI). Yet the cover art for Little Droid, which also featured in the game’s launch trailer on YouTube, was not concocted by AI. It was, the developers claim, carefully designed by a human artist.

    Surprised by the attacks on “AI slop”, the studio Stamina Zero posted a video showing earlier versions of the artist’s handiwork. But while some accepted this evidence, others remained sceptical.

    In addition, several players felt that even if the Little Droid cover art was human made, it nonetheless resembled AI-generated work.

    However, some art is deliberately designed to have the futuristic glossy appearance associated with image generators like Midjourney, DALL-E, and Stable Diffusion.

    Stamina Zero published a video showing the steps the artist took to create the cover art.

    It’s becoming increasingly easy for images, videos or audio made with AI to be deceptively passed off as authentic or human made. The twist in cases like Little Droid is that what is human or “real” may be incorrectly perceived as machine generated – resulting in misplaced backlash.

    Such cases highlight the increasing problem of the balance of trust and distrust in the generative AI era. In this new world, both cynicism and gullibility about what we encounter online are potential problems – and can lead to harm.

    Wrongful accusations

    This issue extends well beyond gaming. There are growing criticisms of AI being used to generate and publish music on platforms like Spotify.

    Yet as a result, some indie music artists have been wrongfully accused of generating AI music, resulting in damage to their burgeoning careers as musicians.

    In 2023, an Australian photographer was wrongly disqualified from a photo contest due to the erroneous judgement her entry was produced by artificial intelligence.

    Writers, including students submitting essays, can also be falsely accused of sneakily using AI. Currently available AI detection tools are far from foolproof – and some argue they may never be entirely reliable.

    Recent discussions have drawn attention to common characteristics of AI writing, including the em dash – which, as authors, we often employ ourselves.

    Given that text from systems like ChatGPT has characteristic features, writers face a difficult decision: should they continue writing in their own style and risk being accused of using AI, or should they try to write differently?



    Read more:
    Google’s SynthID is the latest tool for catching AI-made content. What is AI ‘watermarking’ and does it work?

    The delicate balance of trust and distrust

    Graphic designers, voice actors and many others are rightly worried about AI replacing them. They are also understandably concerned about tech companies using their labour to train AI models without consent, credit or compensation.

    There are further ethical concerns that AI-generated images threaten Indigenous inclusion by erasing cultural nuances and challenging Indigenous cultural and intellectual property rights.

    At the same time, the cases above illustrate the risks of rejecting authentic human effort and creativity due to a false belief it is AI. This too can be unfair. People wrongly accused of using AI can suffer emotional, financial and reputational harm.

    On the one hand, being fooled that AI content is authentic is a problem. Consider deepfakes, bogus videos and false images of politicians or celebrities. AI content purporting to be real can be linked to scams and dangerous misinformation.

    On the other hand, mistakenly distrusting authentic content is also a problem. For example, rejecting the authenticity of a video of war crimes or hate speech by politicians – based on the mistaken or deliberate belief that the content was AI generated – can lead to great harm and injustice.

    Unfortunately, the growth of dubious content allows unscrupulous individuals to claim that video, audio or images exposing real wrongdoing are fake.

    As distrust increases, democracy and social cohesion may begin to fray. Given the potential consequences, we must be wary of excessive scepticism about the origin or provenance of online content.

    A path forward

    AI is a cultural and social technology. It mediates and shapes our relationships with one another, and has potentially transformational effects on how we learn and share information.

    The fact that AI is challenging our trust relationships with companies, content and each other is not surprising. And people are not always to blame when they are fooled by AI-manufactured material. Such outputs are increasingly realistic.

    Furthermore, the responsibility to avoid deception should not fall entirely on internet users and the public. Digital platforms, AI developers, tech companies and producers of AI material should be held accountable through regulation and transparency requirements around AI use.

    Even so, internet users will still need to adapt. The need to exercise a balanced and fair sense of scepticism toward online material is becoming more urgent.

    This means adopting the right level of trust and distrust in digital environments.

    The philosopher Aristotle spoke of practical wisdom. Through experience, education and practice, a practically wise person develops skills to judge well in life. Because they tend to avoid poor judgement, including excessive scepticism and naivete, the practically wise person is better able to flourish and do well by others.

    We need to hold tech companies and platforms to account for harm and deception caused by AI. We also need to educate ourselves, our communities, and the next generation to judge well and develop some practical wisdom in a world awash with AI content.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Distrust in AI is on the rise – but along with healthy scepticism comes the risk of harm – https://theconversation.com/distrust-in-ai-is-on-the-rise-but-along-with-healthy-scepticism-comes-the-risk-of-harm-260189

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Mining areas’ restoration enhanced

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

    China has ramped up efforts to protect and restore mining areas, emphasizing green, sustainable and high-quality development in the sector under a revised Mineral Resources Law that took effect on Tuesday.

    For the first time, the law includes a dedicated chapter on ecological restoration in mining areas at the national legislative level, Lu Lihua, deputy director-general of the land space ecological restoration department at the Ministry of Natural Resources, told a news conference on Friday.

    “This chapter outlines clear provisions for ecological restoration, providing a robust legal guarantee for systematically rebuilding the governance system for ecological restoration in these regions,” Lu said.

    The revised law, composed of 80 articles across eight chapters, modifies nearly every item to align with the new circumstances and requirements for mineral resources exploitation and protection, said Zhuang Xiaoyong, deputy director of the economic law department at the Legislative Affairs Commission of the National People’s Congress Standing Committee.

    The law requires the integration of natural and artificial restoration efforts in mining areas, following principles of adapting to local conditions, scientific planning, systematic management and reasonable utilization.

    Mining right holders are required to fulfill ecological restoration obligations if mining activities cause environmental damage, even after mining rights expire. In the event that mining areas are abandoned or the responsible party cannot be identified, local governments at or above the county level are responsible for organizing restorative work, with private sector participation encouraged.

    According to the amended law, before mineral extraction can take place, mining rights holders must submit a plan for ecological restoration that should include specific measures for tailings ponds, along with the mining plan for approval. Restoration should proceed concurrently with mining if possible, or within a reasonable period after mining activities conclude, Zhuang said.

    Local governments are tasked with strengthening coordination and supervision of ecological restoration, ensuring it aligns with pollution prevention, soil and water conservation, and vegetation restoration to improve environmental outcomes. Local natural resources departments are also responsible for supervising the allocation and use of restoration funds.

    Lu said the ministry is drafting guidelines to support the law’s implementation, focusing on technology-driven restorative approaches that are tailored to local conditions.

    Gutian county in Ningde, Fujian province, was among the first batch of exemplary cases of ecological restoration in mining regions announced by the ministry last year. The county used techniques such as subsequent filling mining and ore selection to enhance extraction efficiency, reduce tailings storage and minimize damage to surface vegetation.

    In Shandong province, sediment from the Yellow River was used to fill coal collapse areas, achieving a land reclamation rate of 100 percent, with potential restoration to farmland within one to three years.

    First enacted in 1986, the Mineral Resources Law was previously amended in 1996 and 2009 before its revision and adoption at the 12th session of the NPC Standing Committee last year.

    MIL OSI China News –

  • MIL-OSI China: Unmanned farming paves way for China’s smart, sustainable agriculture future

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

    ZHENGZHOU, July 2 — Beneath the blazing midday sun in Zhangzhuangli Village, Qingfeng County, in central China’s Henan Province, an intelligent patrol drone soared into the sky, tracing graceful arcs against the clear blue backdrop.

    Below, driverless harvesters swept through golden wheat fields with surgical precision, funneling grain into waiting trucks, while nearby sensors activated smart irrigation systems to quench the soil’s thirst drop by drop.

    These scenes come from the first wheat harvest at Henan’s inaugural fully unmanned wheat-corn rotation farm, offering a glimpse into the future of agriculture in China.

    Designed by scientists at Henan Agricultural University as part of the “sci-tech backyard program,” this farm covering 3,500 mu, or about 233 hectares, in Qingfeng has turned a once-distant dream into reality by achieving fully unmanned plowing, planting, management and harvesting.

    “For generations, harvest meant the whole family sweating in the fields,” said Zhou Jianshi, head of the local agricultural machinery cooperative, as an autonomous harvester rumbled past. “Now these ‘iron workhorses’ do it all on their own. It’s simply amazing.”

    This summer, the farm deployed an army of intelligent machines — from driverless harvesters and tractors to air-suction seeders, precision irrigation systems and scouting drones — all operated through China’s domestically developed BeiDou navigation satellites.

    According to Zhou, the shift has brought dramatic efficiency gains. “With the autonomous system, we have been able to reduce harvesting time from seven days to four,” he said, adding that labor for water and fertilizer management dropped by 80 percent, while overall human costs fell by 40 percent.

    “But efficiency jumped by 30 percent compared to last year’s traditional methods,” he noted.

    Behind this transformation lies integrated automation, with robotic tillers preparing the soil, smart planters detecting missed seeds, drones monitoring crop health and pests, and AI coordinating the entire harvest.

    In the farm’s mission control room, giant screens flicker with real-time data on soil moisture, seedling density and pest alerts, painting a digital portrait of the fields.

    “Our drone patrol system collects field data at 10 points every 30 minutes between 9 a.m. and 3 p.m. daily,” said Wang Qiang, director of the Qingfeng sci-tech backyard program and an associate professor at Henan Agricultural University.

    “Predictive models translate the data into growth patterns, yield forecasts, and precise water needs,” Wang added.

    The smart irrigation system divides the fields into six zones, watering each according to the specific needs of the crops.

    Zhou said that irrigation labor fell 90 percent, with work that once needed 10 people now done by one using a smartphone, while precision fertilizer cut chemical use by 20 percent and boosted absorption efficiency by 30 percent.

    The results are inspiring, said Wang, noting that the smart farm’s debut report showed an impressive 20 percent increase in wheat yield compared to nearby conventional fields.

    “The core is matching water and fertilizer to the crop’s exact needs,” explained Ye Youliang, founder of the “sci-tech backyard program” and a professor at Henan Agricultural University.

    “Integrated water-fertilization systems allow us to deliver nutrients precisely when and where the plants need them, resulting in less input, higher quality, and truly sustainable farming,” he added.

    Standing amid the vibrant fields, Wang envisions a far-reaching transformation on the horizon.

    “Qingfeng offers a replicable model for China’s agricultural modernization,” he said. “Next, we’ll refine full-process unmanned tech, cut costs further, and amplify these efficiency gains.”

    MIL OSI China News –

  • MIL-OSI China: Ningbo-Zhoushan Port shows major trade rebound

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

    Despite recent volatility in global trade policy, especially the swift changes in US-China tariff regulations since April, Ningbo-Zhoushan Port — the world’s third-largest in terms of container throughput volume in 2024 — has demonstrated remarkable resilience.

    By early June, container throughput volume to the United States had returned to pre-fluctuation levels, said port officials.

    Located on China’s eastern seaboard, Ningbo-Zhoushan Port serves as a vital artery in global logistics. With over 300 container shipping routes connecting to more than 600 ports, across 200 countries and regions, the port handles nearly 300 vessel movements daily. It has become a critical hub in supporting the dual circulation of domestic and international trade.

    In the face of external pressure, the port managed to expand its container throughput volume. From January to April, the port handled 13.568 million twenty-foot equivalent units, marking a 9.9 percent year-on-year increase, said Teng Yahui, deputy general manager of Ningbo Zhoushan Port Co Ltd.

    Notably, full-container exports rose more than 10 percent, while volumes to emerging markets in Southeast Asia, South America and Africa surged over 20 percent, laying a robust foundation for sustained growth.

    From January to May, total container throughput volume exceeded 17 million TEUs — a year-on-year increase of more than 9 percent. Teng confirmed that US-bound container volumes had normalized by early June, reflecting a rebound in trans-Pacific trade following the May 12 joint announcement issued after China-US trade talks in Geneva.

    To meet growing market demand and improve global connectivity, Ningbo-Zhoushan Port has launched a series of new shipping routes in recent months. These routes not only accommodate increased outbound cargo, but also provide exporters with faster, more diversified transport options, further consolidating the port’s global hub status.

    “Ningbo-Zhoushan Port has capitalized on the reorganization of global shipping alliances, strengthening cooperation with shipping lines and optimizing our route network,” said Zhu Miao, general manager of Zhejiang Provincial Seaport Investment & Operation Group.

    Zhu said: “We now operate 307 routes, including 255 international ones and 23 express shipping lines. Our port connectivity index has surpassed Singapore’s, ranking second globally.”

    During periods of reduced US-bound shipments, the port took proactive measures to stabilize services. “We worked closely with carriers to secure capacity and stabilize schedules, ensuring minimal disruptions. At the same time, we collaborated to explore new cargo sources and routes, reinforcing our role as a pivotal gateway,” Teng said.

    Ningbo-Zhoushan Port continues to enhance service quality by deploying tailored solutions. Its dedicated “logistics concierge” team designs optimized transportation plans for clients, with a strong focus on high-growth regions such as South America, the Middle East and Europe. In parallel, the port has accelerated the implementation of facilitation measures to improve operational efficiency. These include reducing vessel waiting times and streamlining Customs clearance — efforts that have significantly enhanced port productivity and competitiveness.

    MIL OSI China News –

  • MIL-OSI China: Beijing-Shenyang high-speed train boosts speed to 350 kph

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

    Editor’s Note: China Railway increased the operating speed of its G951 high-speed train from Beijing to Shenyang, northeast China’s Liaoning province, to 350 kph on July 1, the start of the country’s annual summer railway schedule.

    The increased speed will shorten the trip to less than two and a half hours, about 15 minutes faster than the previous quickest trains on the route. The Beijing-Shenyang route, part of the Beijing-Harbin High-speed Railway, is now the third 350-kph high-speed line operated by China Railway Beijing Group, following the Beijing-Tianjin Intercity Railway and the Beijing-Shanghai High-speed Railway.

    An electronic poster at Beijing Chaoyang Railway Station marks the Beijing-Shenyang High-speed Railway raising its operating speed to 350 kph, July 1, 2025. [Photo by Chen Boyuan/China.org.cn]

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    MIL OSI China News –

  • MIL-OSI China: ‘Jurassic World Rebirth’ cast roars into China for Shanghai premiere

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

    “Jurassic World Rebirth,” the latest installment in the dinosaur blockbuster franchise, is set to charge into Chinese theaters on July 2, with the director and cast generating excitement among fans at the film’s Shanghai premiere on June 29.

    (From left to right) Actors Rupert Friend, Scarlett Johansson and Jonathan Bailey stand with director Gareth Edwards as they wave to fans at the China premiere of “Jurassic World Rebirth” in Shanghai, June 29, 2025. [Photo courtesy of Universal Pictures]

    Three years after the “Jurassic World” trilogy ended, the “Jurassic” series takes an inventive turn with a new film directed by Gareth Edwards from a script by original “Jurassic Park” (1993) screenwriter David Koepp and starring Scarlett Johansson, Jonathan Bailey and Mahershala Ali.

    The story follows an extraction team that ventures to a dangerous island research facility from “Jurassic Park,” now inhabited by deadly dinosaurs. Their mission involves collecting DNA samples from three colossal prehistoric species on land, sea and air for a medical breakthrough.

    Director Edwards called making the film “a dream come true” at the premiere event packed with screaming fans. He appeared alongside Johansson, Bailey and Rupert Friend during the film’s China promotional tour. 

    “I think it is every director’s dream and also every director’s nightmare,” he said.

    Edwards grew up studying Steven Spielberg’s films in England, with “Jurassic Park” among the first movies he saw as a child. He said the film has inspired him ever since, though he believes no one can surpass Spielberg’s original work and never expected to do so. Edwards said he hopes “Jurassic World Rebirth” will feel like a forgotten sequel from the 1990s, capturing the original’s style.

    A still from “Jurassic World Rebirth.” [Photo courtesy of Universal Pictures]

    Spielberg has remained closely involved with the franchise, having directed the original “Jurassic Park” and its sequel, “The Lost World: Jurassic Park,” and serving as executive producer on every subsequent film, including “Jurassic World Rebirth.” Since 1993, the franchise based on Michael Crichton’s novel has created a cinematic world of reborn dinosaurs and heroes, reinvented the blockbuster film, revolutionized special effects and launched two trilogies that have grossed over $6 billion worldwide, including 4.61 billion yuan ($644 million) from China.

    “We had Steven Spielberg guiding this whole film,” Edwards revealed. “He was watching everything we were filming every day, and as a filmmaker, that’s very nerve-racking. Sometimes we’d get a nice text, and I’d share it with the group when he said he loved what he’d seen, and that’s awesome.”

    Johansson said participating in “Jurassic World Rebirth” fulfilled “a childhood dream of mine.” She recalled that one of her earliest theater memories was watching “Jurassic Park” and that she had followed the franchise for 15 years, reaching out each time a new film was announced, though previous attempts had not worked out. The action superstar added that she told Spielberg she would accept any role in the “Jurassic” franchise — even playing what she called a “dinosnack” who gets eaten five minutes in.

    Standing alongside her colleagues, actor Scarlett Johansson speaks on stage at the China premiere of “Jurassic World Rebirth” in Shanghai, June 29, 2025. [Photo courtesy of Universal Pictures]

    But this time, Johansson landed something far more substantial. Cast as Zora Bennett, she plays a covert operations expert contracted to lead a team on a top-secret mission to secure genetic material. She and her team uncover a sinister discovery hidden for decades on the dinosaur island.

    To bring the story to life, the cast and crew went far beyond green screens, filming in natural locations across the U.K., Malta and Thailand. Along the way, they encountered wild animals from snakes and monkeys to poisonous insects.

    A still from “Jurassic World Rebirth.” [Photo courtesy of Universal Pictures]

    The director recalled going to a mangrove swamp in Thailand. Although everyone assured him it was safe, the crew still hired a snake wrangler just in case. Sure enough, the wrangler emerged with a giant yellow-and-black poisonous snake. “I said everybody has to make a promise right now that we’re not going to tell Scarlett Johansson until the film is finished,” Edwards said.

    Hearing this for the first time on stage, Johansson turned to the director and deadpanned, “I trusted you, Gareth, and I no longer trust you.”

    “The adventure of a lifetime!” Friend exclaimed.

    MIL OSI China News –

  • MIL-OSI China: Shanghai Cooperation Organization sculpture show opens in Qingdao

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

    An exhibition featuring 48 sculptures from Shanghai Cooperation Organization (SCO) member countries recently opened in Qingdao, Shandong. 

    The exhibition, themed “Forging the Shanghai Spirit,” aims to highlight the vibrant art scenes of SCO member countries and promote the vision of a global community of shared future. It will run through July 6.

    The exhibition showcases works that blend local cultures with contemporary themes. Some Chinese artists drew inspiration from cultural figures of other member countries, turning mutual respect and cultural exchange into tangible art pieces.

    The event is co-hosted by China International Communications Group, the National Art Museum of China, and the SCO Secretariat. Undertaking organizations include China Pictorial Publications, the Administrative Committee of China-SCO Local Economic and Trade Cooperation Demonstration Area, The Chinese Urban Sculpture Artists Association, and Qingdao National Resources and Planning Bureau. It seeks to strengthen cultural ties and enhance artistic cooperation among SCO member states. 

    A 2012 sculpture of ancient Taoist philosopher Laozi by Wu Weishan is featured at the SCO sculpture exhibition in Qingdao, Shandong, running through July 6. [Photo courtesy of China Pictorial Publications and National Art Museum of China]

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    MIL OSI China News –

  • MIL-OSI China: Iran arrests over 50 with alledged ties to Israel, kills 2 in SE province

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

    Iran’s Islamic Revolution Guards Corps (IRGC) said on Tuesday it had arrested more than 50 “terrorists and proxies” linked to Israel, and killed two others in the southeastern province of Sistan and Baluchestan.

    According to a statement published on IRGC’s official news outlet Sepah News, the individuals were also affiliated with “terror groups” based in eastern Iran and were detained or killed in operations over the past two weeks.

    Those individuals sought to destabilize the southern parts of Sistan and Baluchestan, and carry out sabotage operations to damage economic sectors and infrastructure, it said, adding that large quantities of weapons and ammunition, including American armaments, were seized from them.

    On June 13, Israel launched major airstrikes on several areas in Iran, including nuclear and military sites, killing senior commanders, nuclear scientists, and civilians. Iran responded with multiple waves of missile and drone attacks on Israel.

    After 12 days of fighting, a ceasefire between Iran and Israel was reached on June 24.

    MIL OSI China News –

  • MIL-OSI China: 45 Palestinians killed in Israeli army across Gaza

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

    Palestinians flee the al-Tuffah neighborhood in eastern Gaza City on June 29, 2025. [Photo/Xinhua]

    At least 45 Palestinians were killed by Israeli shelling and gunfire in the Gaza Strip on Tuesday, Gaza’s Civil Defense said, while the Israeli army announced that it had attacked 140 targets in the coastal enclave over the past 24 hours.

    Mahmoud Basal, spokesperson for the Civil Defense in Gaza, told Xinhua that an Israeli drone targeted a gathering of Palestinians in the Jabalia area in the northern Gaza Strip, killing five people.

    Five other people were killed in two airstrikes launched by Israeli drones, which targeted a house in the al-Tuffah neighborhood in eastern Gaza City and a gathering of Palestinians in the al-Zeitoun neighborhood in the south, according to Basal.

    In Khan Younis, in the southern Gaza Strip, Basal said that 18 Palestinians were killed in Israeli attacks targeting residential homes and tents housing displaced persons in various parts of the city.

    Also, two Palestinians were killed in an Israeli airstrike targeting a school housing the displaced in the Maghazi refugee camp in the central Gaza Strip, according to Basal.

    He noted that at least 15 people were killed and 60 others injured by Israeli army fire while waiting to receive food outside two U.S.-backed aid distribution centers north of Rafah in the southern Gaza Strip and at the Netzarim junction in the central Gaza Strip.

    The attacks come as Palestinian security sources reported that Israeli artillery shelling has continued since the early morning hours of Tuesday on the eastern areas of Gaza City and Jabalia, north of the Strip.

    The Israeli army announced on Tuesday that the air force attacked more than 140 targets in the Gaza Strip over the past 24 hours, including “terrorist elements, military buildings, anti-tank missile launching points, weapons depots, and additional infrastructure.”

    The army said in a statement that its forces in the Southern Command continue to operate against “terrorist organizations” in the Gaza Strip.

    On March 18, Israel resumed its military operations in the enclave. At least 6,315 Palestinians had been killed and 22,064 others injured since Israel renewed its intensive strikes, bringing the total death toll since October 2023 to 56,647, and injuries to 134,105, Gaza-based health authorities said on Tuesday.

    MIL OSI China News –

  • MIL-OSI China: US Senate passes Trump’s landmark mega-bill

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

    U.S. President Donald Trump speaks to the press at the White House in Washington, D.C., the United States, on June 27, 2025. [Photo/Xinhua]

    The GOP-led Senate on Tuesday passed U.S. President Donald Trump’s One Big Beautiful Bill, a major stride toward Trump’s goal of getting the legislation to his desk and signed by this week’s end.

    The sweeping bill passed narrowly by 51 to 50, with U.S. Vice President JD Vance casting the deciding ballot. Three Republicans were the only GOP lawmakers to vote no: senators Susan Collins, Thom Tillis and Rand Paul.

    The legislation is considered the GOP’s biggest legislative win in the lead-up to next year’s midterms, in which the party could lose its slim majority in the House.

    The bill extends Trump’s 2017 Tax Cuts and Jobs Act, slashes taxes on tips and provides new spending for the military and border security.

    “Today was a historic day … and we’re very excited to be a part of something that is going to make America stronger, safer and more prosperous,” Senate Majority Leader John Thune said after the bill passed the Senate.

    But there remains one more major hurdle ahead, as the bill needs to be passed in the House of Representatives, which is expected to vote as early as Wednesday.

    “It’s a great bill. There is something for everyone, and I think it’s going to go very nicely in the House. Actually, I think it will be easier in the House than it was in the Senate,” Trump said.

    However, Democrats have been vehemently opposed to the mega-bill, which funds an agenda to which Democrats stand in stark contrast.

    Democrats have blasted the tax cuts in the bill as reductions that benefit the wealthy. Republicans maintain that the cuts will help the middle class.

    The bill has angered Democrats for what the party says are cuts to essential programs such as Medicaid — health care coverage for low-income people — as well as to food stamps.

    Democrats also fret the bill will add trillions of U.S. dollars to the surging national debt.

    An analysis from the nonpartisan Congressional Budget Office (CBO) said the changes Trump made in the Senate version of the bill would add trillions of dollars to the already significant national debt, and that the bill would create considerable losses in health care coverage.

    The CBO has predicted that the bill would add 2.4 trillion dollars to the national debt in the next 10 years, while also pushing up the deficit by around 3.3 trillion dollars between 2025 and 2034.

    The CBO’s analysis also forecast that the bill would cause 11.8 million more Americans to lose their insurance by 2034, which, as experts have said, will surely create hurdles for the bill’s passage in the House before Trump’s July 4 deadline.

    MIL OSI China News –

  • MIL-OSI China: South China island province offers 40M yuan in summer tourism subsidies

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

    People visit the Domestic Brands Zone of the 5th China International Consumer Products Expo (CICPE) in Haikou, south China’s Hainan Province, April 17, 2025. [Photo/Xinhua]

    China’s southern island province of Hainan launched a summer tourism promotion campaign on Tuesday, and will offer 40 million yuan (about 5.59 million U.S. dollars) in subsidies to stimulate seasonal tourism spending, local authorities said.

    The program runs from July to September and will provide targeted subsidies to help cover travel to and from the province, accommodation, tickets to tourist attractions and dining expenses, according to the Hainan provincial department of tourism, culture, radio, television and sports.

    Tourists can upload valid receipts through designated online platforms. Subsidies ranging from 150 yuan to 3,060 yuan will then be directly refunded to visitors’ personal bank accounts.

    Hainan is expected to host more than 100 cultural, tourism and sports events this summer, including festivals, live performances and athletic competitions, to showcase the island’s diverse charm.

    Known for its year-round sunshine and pristine beaches, Hainan is seeking to revitalize its tourism industry. China aims to transform the province into a globally influential tourism and consumption destination by 2035.

    In 2024, Hainan recorded a total of over 97.2 million tourist visits, including both domestic and international visits, marking an 8-percent year-on-year increase. Total tourism expenditure grew by 12.5 percent last year — reaching 204 billion yuan, official data revealed.

    This year, the province is hoping to welcome more than 100 million tourist visits, both domestic and international.

    As part of its broader economic strategy, China is transforming Hainan into a Free Trade Port (FTP). As the Hainan FTP is set to begin independent customs operations by the end of the year, the province is poised to become not only a tourist haven but also a pivotal gateway for China’s opening-up drive. 

    MIL OSI China News –

  • MIL-OSI China: Eurozone inflation rate reaches 2% in June

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

    Photo taken on July 7, 2022 shows the headquarter of the European Central Bank in Frankfurt, Germany. [Photo/Xinhua]

    The annual inflation rate in the Eurozone is expected to reach 2 percent for June, up from 1.9 percent in May, according to a flash estimate published Tuesday by Eurostat.

    The inflation is driven by the price of services, which recorded a yearly inflation rate of 3.3 percent in June, up from 3.2 percent the previous month.

    The prices of food, alcohol, and tobacco registered a 3.1 percent year-on-year inflation rate in June, down from 3.2 percent in May.

    Inflation for non-energy industrial goods declined from 0.6 percent in May to 0.5 percent in June. A negative inflation rate of -2.7 percent was recorded for energy prices, an increase from -3.6 percent in May.

    Core inflation, which excludes energy, food, tobacco and alcohol prices, was unchanged at 2.3 percent in June.

    Among the main economies of the Eurozone, Germany recorded an inflation rate of 2 percent, down from 2.1 percent in May. France recorded an inflation rate of 0.8 percent, up from 0.6 percent in May, and Spain’s inflation rate stands at 2.2 percent, up from 2 percent in May.

    The highest inflation rate was recorded in Estonia at 5.2 percent, up from 4.6 percent the previous month, while Cyprus registered the lowest inflation rate for June at 0.5 percent, up from 0.4 percent in May.

    “Inflationary pressures have clearly weakened as wage growth is coming down and economic performance remains sluggish, keeping the door open to another rate cut in autumn,” said Bert Colijn, Chief Economist for the Netherlands at ING.

    According to Colijn, risks such as oil price spikes and the outcome of tariff negotiations between the EU and the U.S. remain.

    The European Central Bank (ECB) last month announced an eighth rate cut, bringing the policy interest rate to the lowest level since December 2022. According to the ECB statement, most measures of underlying inflation suggest that inflation will settle at around the 2 percent medium-term target on a sustained basis. However, the ECB has not yet dropped its guard, insisting that it is determined to ensure inflation stabilizes sustainably at its medium-term target.

    Market expectations for interest rate cuts were unchanged after the June inflation figures were published. 

    MIL OSI China News –

  • MIL-OSI China: US manufacturing struggles through fourth straight month of decline

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

    U.S. manufacturing activity contracted for the fourth consecutive month in June, with new factory orders plummeting amid escalating trade tensions and soaring input costs that continued to weigh on the world’s largest economy, while the automotive sector showed similar signs of strain after a tariff-driven sales surge had collapsed.

    “The Manufacturing Purchasing Managers’ Index (PMI) registered 49 percent in June, a 0.5-percentage point increase compared to the 48.5 percent recorded in May,” said Susan Spence, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee, in a press release. It was still below the critical 50 percent threshold that separates growth from contraction, according to data released Tuesday.

    The persistent weakness in U.S. industrial backbone reflected broader economic headwinds as trade disputes continued to disrupt global supply chains while manufacturers grappled with sustained price pressures.

    Raw material costs have surged for eight consecutive months, with the ISM Prices Index hitting 69.4 percent in May, according to the previous month’s data.

    The manufacturing downturn coincided with a dramatic collapse in automotive sales momentum. “The springtime surge in U.S. auto sales landed with a thud last month, setting up a slowdown in the months ahead as carmakers digest President Donald Trump’s tariffs on auto imports and consumers find fewer deals,” Bloomberg reported Tuesday.

    “The party is over,” Jonathan Smoke, chief economist for researcher Cox Automotive Inc., said in a Bloomberg interview. “It’s clearly slowing. It’s because of affordability getting worse and forcing what we think will be production declines to keep supply in balance.”

    The automotive sector’s sudden reversal illustrated the broader economic impact of trade policies. The annual automotive selling rate likely fell to 15 million in June — the slowest pace in the last 12 months — from 17.6 million in April as consumers pulled back from major purchases.

    Shoppers rushed to showrooms as beating tariff-induced price increases became a motivation to buy, pushing up second-quarter sales an estimated 2.5 percent from the prior-year period, according to industry researcher J.D. Power. However, that momentum has now evaporated.

    New orders in manufacturing, a key indicator of future production, fell for the fifth straight month to 46.4 percent in June, down 1.2 percentage points from May’s already weak 47.6 percent reading. The employment situation in manufacturing has also remained challenging as companies adjust to reduced demand and elevated operating costs.

    The automotive industry exemplified these broader manufacturing challenges. Ford Motor Company’s second-quarter sales jumped 14.2 percent, helped by employee pricing programs, though growth moderated in June. Hyundai Motor Company reported 10 percent second-quarter growth but only a 3 percent gain in June, down sharply from April’s 19 percent surge, according to Bloomberg data.

    “These tariffs are already hitting the U.S. auto industry,” said Adam Posen, president of the Peterson Institute for International Economics, describing the policies as “inflationary, if not stagflationary.”

    According to J.D. Power, average monthly car payments reached a record 747 U.S. dollars in June, up 22 dollars from a year ago. That has more people stretching car loans to 84 months, which accounted for 12 percent of all auto financing last month, up three percentage points from last year.

    “Given the impact of tariffs, prices are likely to start rising at a much faster rate,” Charlie Chesbrough, senior economist for Cox said in a press release on June 25. “Higher vehicle prices are coming to the new vehicle market.”

    Consulting firm AlixPartners predicted automakers will pass along 80 percent of Trump’s tariff costs to consumers, driving up prices by nearly 2,000 dollars per car, though the firm expected the full impact won’t be felt until year-end.

    Manufacturing companies are feeling similar pressures from multiple directions. The Prices Index recorded its highest readings since June 2022, with companies reporting significant increases in aluminum, copper, steel, electrical components, and plastic resin costs, according to earlier ISM reports.

    Supply chain executives surveyed by the ISM reported mixed conditions across different sectors. Only three of the six largest manufacturing industries (Petroleum & Coal Products; Food, Beverage & Tobacco Products; and Computer & Electronic Products) reported increased new orders in June.

    The ISM’s analysis suggested the June manufacturing reading “corresponds to a change of plus-1.9 percent in real gross domestic product on an annualized basis,” according to Spence’s statement. This indicated that while manufacturing faces headwinds, the sector’s performance would still support modest economic growth.

    The June slowdown was “a hangover from some of the sales that were pulled ahead,” said Mark Wakefield, global auto market lead for consultant AlixPartners. 

    MIL OSI China News –

  • MIL-OSI USA: Padilla, Schiff Call on Trump to Release Billions of Dollars in Funding for Public Education

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Schiff Call on Trump to Release Billions of Dollars in Funding for Public Education

    WASHINGTON, D.C. — Today, U.S. Senators Alex Padilla and Adam Schiff (both D-Calif.) issued the following statement demanding the immediate release of funding for K-12 public schools after the Trump Administration announced its intent to illegally withhold over $6 billion in Congressionally appropriated education funds, including approximately $928 million from California:

    “Just weeks away from the start of the school year, the Trump Administration has managed to find trillions of dollars in tax breaks for billionaires but went out of their way to freeze education funding that Trump, himself, signed into law. That’s not just wrong for our students — it’s wrong for our economy, too.

    “If the Trump Administration goes through with their latest political attack on California and our nation’s public education, it will punish the teachers and principals who are already underpaid and under-resourced. It will force schools to roll back after-school programs, hurt the children of farm workers traveling to pick our food, and hold back students who rely on English-language classes.

    “This reckless decision threatens the future of America’s workforce and our global competitiveness. And if the Administration is asking for a fight, make no mistake — California will give it to them.” 

    The Trump Administration has confirmed it is blocking funding for the following programs from being available to school districts across America:

    • Supporting Effective Instruction State Grants (Title II-A), which support professional development and other activities to improve the effectiveness of teachers and school leaders, including reducing class size.
    • 21st Century Community Learning Centers (Title IV-B), which support high-quality before and after-school programs focused on providing academic enrichment opportunities for students.
    • Student Support and Academic Enrichment Grants (Title IV-A), which provide flexible funding for school districts for a wide range of activities including supporting STEM education, accelerated learning courses, college and career counseling, school-based mental health services, and improving school technology, among many others.
    • English Language Acquisition (Title III-A), which supports language instruction to help English language learners become proficient in English.
    • Migrant Education (Title I-C), which supports the educational needs of migratory children, including children of migrant and seasonal farm workers.
    • Adult Basic and Literacy Education State Grants (including Integrated English Literacy and Civics Education State Grants), which support adult education and literacy programs to provide the basic skills to help prepare adults and out-of-school youth for success in the workforce.

    MIL OSI USA News –

  • MIL-OSI Russia: Beijing issues blue alert over heavy rains

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, July 2 (Xinhua) — The Beijing Meteorological Department has issued a blue alert for heavy rainfall expected to hit a wide area of the city from the afternoon of July 2 to the morning of July 3.

    According to weather forecasters, in some areas the rain will be accompanied by thunderstorms. In some places the amount of precipitation will exceed 30 mm per hour.

    Rain has become more frequent in the Chinese capital this week. This weather will prevail in the city in the coming days. No sharp temperature jumps are expected, but increased humidity will aggravate the heat, forecasters warn.

    The agency recommended that residents monitor weather forecasts, not take shelter from the rain near multi-story buildings or billboards, and that drivers exercise caution on roads that are slippery after rain and avoid flooded areas. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Israel Agrees to Necessary Conditions for 60-Day Ceasefire in Gaza – D. Trump

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    HOUSTON, July 1 (Xinhua) — U.S. President Donald Trump on Tuesday said Israel has agreed to the necessary terms for a 60-day truce to end the conflict in Gaza, and called on Hamas to accept the deal.

    “Israel has agreed to the necessary conditions for a ceasefire in Gaza for 60 days, during which time we will work with all parties to end the war,” Trump wrote on the Truth Social social network.

    “The Qataris and the Egyptians, who have worked very hard to help bring peace, will present this final proposal,” Trump said.

    He also called on Hamas to agree to the deal. “I hope, for the sake of the Middle East, that Hamas agrees to this deal, because it’s not going to get better — it’s going to get worse,” Trump added. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Exclusive: For more than a century of history, the CPC is known for its outstanding achievements – analyst at the Belarusian Institute for Strategic Studies

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    MINSK, July 2 (Xinhua) — The Communist Party of China (CPC) has been known for its outstanding achievements in its more than century-long history, Sergei Vergeichik, an analyst at the Belarusian Institute for Strategic Studies (BISS), told Xinhua in Minsk.

    “The Communist Party of China is one of the largest and most authoritative political parties in the world. On July 1, 100 million members of the CPC, devoted to the ideals of serving their people and the state, celebrate another anniversary of its creation. Over more than a century of history, the CPC is known for its outstanding achievements. In difficult conditions, it managed to satisfy the basic social needs of society: poverty and illiteracy have been eliminated, the population has been provided with housing, jobs have been created, and general food security has been ensured. In general, China has completed the construction of a middle-income society,” the Belarusian analyst notes.

    According to S. Vergeichik, today’s achievements of the PRC are based on maintaining the continuity of historical experience and will determine the sustainability of the development of the Chinese state for years to come. “The CPC does not stop there, continues to lead the implementation and improvement of the policy of reforms and openness, remains true to the original goal and confidently goes at the forefront of the implementation of the historical mission – the great revival of the Chinese nation,” the expert emphasized.

    S. Vergeichik drew attention to the fact that China’s development experience is, without exaggeration, unique in the history of all mankind. “The Chinese path of development is attracting the attention of an increasing number of countries in the world. Belarus is interested in China’s experience. Strong relations of a comprehensive and all-weather strategic partnership, an iron brotherhood are a good example of how mutual trust, assistance and support in the current difficult international conditions allow our countries to maintain stress resistance in the face of global and regional challenges, to strengthen bilateral and multilateral cooperation,” the BISI analyst noted. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Barge capsizes in Gulf of Suez

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    CAIRO, July 2 (Xinhua) — The Adam Marine 12 barge, owned by Offshore Shukheir Oil Company, capsized in the Gulf of Suez on Tuesday, Egypt’s Ministry of Petroleum and Mineral Resources said.

    The agency stressed that it is closely monitoring the situation and coordinating its actions with the relevant authorities and companies in the area of the incident.

    A team led by Oil and Mineral Resources Minister Karim Badawi and Labor Minister Mohamed Ghobran has been dispatched to the site of the shipwreck to oversee rescue operations, the statement said. –0–

    MIL OSI Russia News –