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Category: DJF

  • MIL-OSI Asia-Pac: Waste Generation Rate Continues To Trend Downloads In 2024

    Source: Government of Singapore

    Per capita daily domestic waste decreased by more than 20 per cent over the past decade; per billion dollar GDP daily non-domestic waste decreased by more 30 per cent over the same period. The recycling rate continues to hover around 50 per cent. 

    Singapore, 23 July 2025 – Singapore continued to see a decrease in waste generation rate in 2024. The daily domestic waste generated per capita decreased from 0.88 kg in 2023 to 0.85 kg in 2024. The daily non-domestic waste  generated per billion dollar Gross Domestic Product (GDP) decreased from around 25 tonnes in 2023 to around 23 tonnes in 2024. This reflects the sustained reduction and reuse efforts by households and businesses in 2024.

    Per capita and per billion dollar GDP waste generated decreased in past decade

    2          Over the past decade, daily domestic waste generated per capita decreased by more than 20 per cent, and daily non-domestic waste generated per billion dollar GDP decreased by more than 30 per cent.

    Fig. 1. Chart on the daily domestic waste generated per capita from 2014 to 2024.

     

    Fig. 2. Chart on the daily non-domestic waste generated per billion dollar GDP from 2014 to 2024.

    Recycling rate continues to hover at around 50 per cent

    3          Overall recycling rate continues to hover at around 50 per cent (refer to Table 1 in 

    Annex). The recycling rate of paper/cardboard, food, and plastics remained similar. The slight reduction in recycling rate is driven largely by the reduction in the amount of Construction & Demolition (C&D) waste (by 122,000 tonnes) and used slag (by 63,000 tonnes) generated, which are almost completely recycled. This resulted in a corresponding reduction in overall recycling volume. Additionally, there was a reduction in the amount of wood waste recycled, by 49,000 tonnes, due to a short-term reduction in wood waste processing capacity in 2024 as a result of the closure of one biomass plant and prolonged maintenance of another.

    10-year Recycling Trends

    4          Over the past decade, the recycling rate dropped from 60 per cent in 2014 to 50 per cent in 2024 (refer to Table 2 in Annex). This is driven by two factors.

    a.     There was a 44 per cent and 69 per cent decrease in the volume of C&D waste and used slag generation, respectively. As C&D waste and used slag are almost fully recycled, the decrease in volume generated and consequently recycled led to a significant reduction (7 percentage points) in the overall recycling rate (refer to Chart 1 and Chart 2 in Annex). This is due to the reduction in C&D waste volume generated from demolition projects in recent years, while the lower amount of used slag generated is due to a reduction in steel smelting activities in Singapore. 

    b.     The amount of paper/cardboard waste generated has been similar between 2014 and 2024, although paper waste generated had been on a downtrend from 2014 to 2019, before rising again post-2019 driven in part by e-commerce packaging. However, there has been a steep reduction in the paper recycling rate, from 52 per cent to 32 per cent (refer to Chart 3 in Annex). The decline is driven by factors such as the cost of collecting and freight as well as commodity prices.

    Upcoming efforts to improve recycling of key waste streams

    5          NEA will continue to partner the community and businesses to encourage the reduction of waste generated and to increase recycling efforts. Our efforts will be focused on food, paper, and plastics as these make up the largest amount of waste that is not recycled.

    a.     The recycling rate for food waste increased from 13 per cent in 2014 to 18 per cent in 2024. To drive the reduction and recycling of food waste, all new large commercial and industrial food waste generators have been required since March 2024 to segregate, treat and report their food waste. In addition, we will progressively extend these requirements to existing large commercial and industrial food waste generators in tandem when the Food Waste Treatment Facility becomes operational, as we progressively complete the Integrated Waste Management Facility (IWMF) from 2027 onwards.

    b.     To encourage reduction in paper/cardboard waste and improve recycling rates, NEA supported the development of a set of Guidelines on Sustainable E-commerce Packaging in March 2025. The guidelines offer practical 3R (Reduce, Reuse, Recycle) strategies tailored to common types of e-commerce packaging, including cardboard boxes. Furthermore, NEA is looking to strengthen support for paper recycling, working together with waste collectors, recycling companies, and the community.

    c.     We will also increase plastic recycling through initiatives such as the beverage container return scheme, which will take effect next year. Under the scheme, a 10-cent deposit will be fully refunded when consumers return the empty beverage containers at designated return points such as reverse vending machines. The scheme will aggregate clean and high-quality plastic recyclables, which can be made into new products. NEA is working with the licensed scheme operator, Beverage Container Return Scheme Ltd. (BCRS Ltd.) on the return point network and deposit refund options to provide a convenient return and refund journey for consumers, when the scheme rolls out on 1 April 2026.

    Waste Disposed of

    6          Our combined commitment to reducing the amount of waste generated and improving recycling efforts is reflected in the waste disposed of at our waste-to-energy plants and Semakau Landfill. While the waste disposal rate has similarly trended downwards in the last decade, the total amount of waste disposed of has increased from 3.04 million tonnes in 2014 to 3.33 million tonnes in 2024. This is due to the recycling amount declining faster than the total amount of waste generated. Hence, the net effect is an increase in the total amount of waste disposed of. When everyone plays their part to reduce, reuse, and recycle, we avoid sending waste for disposal, thus reducing our environmental footprint and extending the lifespan of Semakau Landfill.

    7          The latest waste and recycling statistics can be accessed at go.gov.sg/waste-statistics-and-overall-recycling.

    ——————

    [1] Domestic waste is waste collected from households and trade premises (e.g., shophouses, educational institutions, petrol stations, hawker centres and places of worship).

    [2] Non-domestic waste is waste generated at industrial and commercial premises.

     

    ~~ End ~~

    For more information, please submit your enquiries electronically via the Online Feedback Form or myENV mobile application.

     

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Doorstop – Parliament House, Canberra

    Source: Murray Darling Basin Authority

    JASON CLARE, MINISTER FOR EDUCATION: Thanks very much for coming along. Today’s a big day. Today, I’ll introduce two pieces of legislation. The first, to cut student debt by 20 per cent; and the second, to cut funding to childcare centres that aren’t up to scratch, that aren’t meeting the sort of minimum standards that parents need and that our children deserve.

    The first piece of legislation to cut student debt by 20 per cent is something that we promised, I think, every day of the election campaign in every part of the country. It means cutting the debt of three million Australians. A lot of those are young Australians. Often young people don’t see themselves on the ballot paper when they go to vote, but a lot of young people did at this election, and they voted for it in their millions. The impact of this legislation is that for the average person with a student debt, they’ll see their debt cut by about $5,500. That’s a big deal. That’s a lot of weight off their back, and it will help a lot of young people that might be just out of uni, just out of home, just getting started.

    The second piece of legislation that I’ll introduce is about giving the Commonwealth the powers that we need to be able to cut access to the child care subsidy for centres that aren’t up to scratch. I think the whole country has been sickened and shocked by the revelations that have come out of Victoria in the last few weeks, and a lot of work is needed to rebuild trust in a system that parents rely upon every single day – more than a million parents across the country – and this legislation is part of that. The biggest weapon that the Commonwealth has to wield here is the funding that we provide that enables child care centres to operate. It’s something like $16 billion a year, and that covers about 70 per cent of the cost of running the average child care centre. Child care centres can’t operate without it, and I think it’s fair, I think most mums and dads will think it’s fair, that if centres are repeatedly not meeting the sort of standards that we set for them, that we should have the power to be able to cut that funding off. This is not about shutting centres down. It’s about lifting standards up and giving us the powers to make that happen.

    I might pass to Andrew to talk in a little bit of detail about the cut to student debt by 20 per cent, and then ask Jess to talk a little bit more about the legislation that we’ll introduce today to be able to cut funding to centres that aren’t up to scratch.

    ANDREW GILES, MINISTER FOR SKILLS AND TRAINING: Thanks very much, Jason. From our very first day in office, the Albanese Labor Government has been committed to breaking down all of those barriers that have held back too many Australians from accessing education and training. And today, we take another really big step forward in that regard. I’m going to talk really to make two points about this. The first one is to recognise the significance, as Jason just laid out, of this first piece of legislation – a piece of legislation that we talked about constantly through the campaign, and indeed since the commitment was made some months before that. A commitment that really resonated with so many Australians, three million of whom will benefit from this cut. Real cost of living relief. Money back in the pockets of Australians who can do with that help and that message of reassurance. I want to say this, though – not only have we been listening to students in Australia, we’ve been listening to all of the students in tertiary education and apprentices too, because this is not just relief from HECS debt. It’s relief that will also support nearly 300,000 students with various VET loans. They will also benefit.

    And that leads me to the second point I want to make here. There really is never a better time than now to think about pursuing a VET pathway. At the same time that we made this commitment that Jason will be introducing in the form of legislation today, we also made our commitment to make Free TAFE permanent. And that has been an extraordinary success in turning around the skills crisis and breaking down another barrier that’s held back too many Australians from accessing skills. As of today, more than 170,000 Free TAFE courses have been completed. More than 650,000 enrolments have taken place. This is making a huge difference alongside so many other incentives, like the one that’s just rolled out for 1 July encouraging more people to pick up the tools and become a housing tradie. There is more to be done of course, but all of these commitments demonstrate our determination to do everything possible to deliver cost of living relief today, and to create more pathways for more Australians to get the skills they want to do the jobs that we need. I’ll hand over Jess to talk about the second bill.

    JESS WALSH, MINISTER FOR EARLY CHILDHOOD EDUCATION: Thanks very much, Andrew. Thanks very much, Jason. Well, every child deserves to be safe in early childhood education and care, and every parent deserves to know that their children are safe too. But it has been a really distressing time for children and their families as we see these revelations unfold in Victoria. It’s been distressing for parents. It’s been distressing for the vast majority of early childhood educators as well, who are just going into work every day to take the best care that they can of our nation’s children. We want to rebuild the confidence that our early learning centres are safe and that they do provide quality early education. And of course, the vast majority of our early learning services do that every single day. But there are some repeat offenders who continue to put profit ahead of child safety, and that’s what the legislation that we’re introducing today is targeted to deal with. We have a strong message for those providers who do put profit ahead of child safety, and that is that we want you to lift your game or to leave the sector.

    Our focus is going to be on helping those providers to lift their game, and this legislation will give us the tools to do that. It will allow us to withdraw Commonwealth Child Care Subsidy from those providers who persistently and consistently let families down. It gives us a strong stick that we’re willing to use to drive standards in early childhood education to deliver the quality and the safety that parents deserve.

    JOURNALIST: Minister Clare, the Minister has just spoken about this legislation being a stick to encourage providers to do the right thing. Are there any, what else is in this bill to actually help some of the providers to do more? I mean, some of the big providers have talked about needing more funds or assistance for training, for instance; for CCTV cameras and so forth. What else is in this bill beyond stick?

    CLARE: Well, this legislation is about giving the Commonwealth the power to cut off funding, cut off the childcare subsidy funding to centres that aren’t meeting that minimum standard, that are repeatedly not meeting that minimum standard. Now these centres know the standard they have to set, now they know what the consequences will be if they don’t meet it. The legislation also gives more power to the authorised officers in our department to be able to do spot checks of centres, particularly in the area of fraud. This is another area that is very serious that we’ve been working on, that I’ve been working on now for three years. The Government’s provided about an extra $220 million for fraud investigation of early education and care. It’s helped to claw back more than $300 million for the Australian taxpayer. This gives more power to our officers to be able to do spot checks without a warrant or without the AFP on board, but they will also be able to, if they spot safety concerns, pass that on to state regulators as well.

    Now, Josh, you make the point that this isn’t the only thing we need to do, and that is absolutely right. When education ministers meet next month, we’ll be talking about some of the things you just mentioned. A national educator register so that we can track workers from centre to centre and from state to state. I think the revelations in Victoria over the course of the last few weeks tell us exactly why this is so important. CCTV and the role that it can potentially play in deterring a bad person from doing heinous things and also helping police with their investigations, but also the sort of training, mandatory child safety training, that already exists in the courses but doesn’t exist in the classroom, doesn’t exist in centres, that can play a crucial role in helping to make sure that the 99.9 per cent of people who are good and honest and hardworking and care for and love our kids and educate our kids every day, the people who are aghast at what they’re reading in the newspapers and are angry that their profession is in the media for the wrong reasons, have the skills they need to spot a bad person before they act. To have the skills that they need to spot somebody who might be looking to do something terrible to children or to distract them from stepping in and stopping it from happening. So whether it’s the register, whether it’s training, or whether it’s CCTV or a bunch of other things that will come out, I’m sure of the rapid review in Victoria and the work that’s being done in New South Wales, all of that is on the table when education ministers meet next month.

    The other thing I should mention here for the sake of completeness is the Attorney-General will also meet with AGs across the country next month to look at the reforms that are needed that are long overdue to working with children checks.

    JOURNALIST: How many breaches of the minimum standards would take you to strip the childcare centre of its funding? What’s the threshold in the legislation?

    CLARE: State regulators can shut a centre down right now if they think there’s a real and imminent threat to childcare safety. So they can do that today. What this legislation gives us the power to do is to shut a centre down if we think they’re below the minimum standard and they’re not likely to get there or they’re not intending to get there. So we can issue a show cause notice and say you’ve got 28 days, give us a good explanation about why you’re not there or we will cut your funding. Alternatively, we might set some conditions on the centre and say you’ve got a period of time to reach that standard, to meet the requirements that the state regulator has told you to reach, potentially to employ a child safety expert in the centre to help you reach them. And as I said, I want centres to get to those standards. We don’t want to have to shut centres down. But also we want to make sure that parents know that if a centre has a show cause notice given to it, or it’s got conditions that are imposed upon it, that mums and dads at that centre deserve to know that we’ve done that and to be able to make a decision about where they want to send their kids.

    JOURNALIST: You just said that state and territory governments already have the power to shut down centres. What difference is this going to make now that the Commonwealth has that power as well?

    CLARE: Well, they have that power and they use it. This is an additional power to make sure that the centres, and there are a number of them that are not at that minimum standard, take the action that they need to take to lift their standards to the sort of standards that we set as a nation, that parents expect and that our children deserve.

    JOURNALIST: So do you think that state and territory governments haven’t been doing enough of that kind of putting that pressure and threatening to shut places down, or shutting places down, if you feel like the Commonwealth needs to step into this?

    CLARE: Well, states do that work now. They tell centres about the standards they expect them to meet, and sometimes centres don’t meet them, and the problem remains unfixed. This gives us the power to step in there where centres are just either deliberately or for whatever reason not meeting those sorts of standards. The bottom line, though, is we all need to do more here. States need to do more. The Commonwealth needs to do more. Centres need to do more as well.

    JOURNALIST: Minister, just on HECS, obviously this is a one-off cut, but what about future students? Is it not unfair to only have this one line in the sand and cut it by 20 per cent? What about the students of the future?

    CLARE: Look, I think there’s a lot of work to do to make our education system better and fairer. And there’s a lot of work to do to make our higher education system better and fairer. The fact is today about 50 per cent of young people have a uni degree, but not everywhere. Not where I grew up, not in the outer suburbs of our big cities, not in regional Australia, not amongst kids from poor and disadvantaged backgrounds. And I want to fix that. That’s what the Universities Accord is all about, and we’ve already taken steps to implement some of that report –

    JOURNALIST: Does that –

    CLARE: Hang on a second. Part of that’s Paid Prac that rolls out this month – financial support for the first time for teaching students and nursing students and midwifery and social work students while they do the practical part of their university degree. Part of it is also uncapping funding for the fee-free university bridging courses that help make sure that people that have finished high school, or maybe they haven’t finished high school and aren’t ready for a uni degree, are ready for it. Part of it is also changing the way that we fund universities. Over the course of the last 12 months or so, I’ve struck agreements with every state and territory to fix the funding of public schools, what David Gonski called for more than a decade ago. Now, what we’ll do next year is change the funding of universities, so it’s needs-based as well, and the funding follows the student. And so more funding flows to students from disadvantaged backgrounds and students from regional Australia, because we know that there is not just fewer young people from disadvantaged backgrounds starting a degree but fewer finishing a degree.

    It also means, and I’m sorry for the long answer, but this is a comprehensive piece of work, building and operating more university Hubs in our outer suburbs, in our regions. When I was a kid growing up, there were a lot of Macca’s logos and a lot of Westfield logos in Western Sydney, not a lot of uni logos. Uni felt like it was someplace else for somewhere else. And a lot of my mates just either dropped out of school or finished school, never thought of uni because they thought it wasn’t for them. I want to change that too. And that’s what those Hubs are about. But this Accord is big. It’s the work of multiple governments and multiple ministers. That’s why we’ve set up the Australian Tertiary Education Commission to act as a steward to drive long-term reform here. And there is more work to do. This is just the start.

    JOURNALIST: If I can just follow up on that. Does that mean some of those changes involve potentially cutting student fees into the future?

    CLARE: Well, the ATEC’s job is to look at all of that. Not just that, but all of that.

    JOURNALIST: Can I go back to child care? I’m obviously very mindful you’re introducing this legislation today and the national database, it does require sort of corralling the states and territories. It’s a tricky job. Can you wait for this much longer, for this meeting to happen in the middle of August or later in August for a three-year period? And then can I ask as well, what’s the timeline for fresh year is setting up the database? This would take some time, would it not?

    CLARE: Josh, the truth is this should have happened yesterday. And this can’t happen fast enough. And states are already taking steps to expand their existing teacher registers. Victoria is a good example of that, and they’ll have that stood up by the end of August. So where states do that, that’s good, but we need to join it up, because to make the system work the way it needs to work, we need to be able to track people not just from centre to centre, but from state to state. And if you want evidence of why that’s important, have a look at the Ashley Griffith case in Queensland from a couple of years ago.

    JOURNALIST: If I may, this is on another issue –

    CLARE: Yep, and then we’ll bounce back.

    JOURNALIST: When are we looking to see the Government’s 2035 emissions target, and can we expect a more ambitious target?

    CLARE: Oh, look, I’ll ask you to talk to Chris Bowen about that. I’m pretty busy today on some pretty important things.

    JOURNALIST: Just back on the future student stuff, the cost of an arts or humanities degree has almost doubled under the last government. Is that something you’re looking to change this term?

    CLARE: Really, it’s the same answer that I gave just a moment ago about the role of the ATEC.

    JOURNALIST: Could I just follow you up on one of the questions you asked a minute ago? What’s the timeline for setting up a register like this with the national database for the childcare workers? I mean, and I believe there was a Child Safety Authority report in 2013 that said investigations into –

    CLARE: 2023, I think, Josh?

    JOURNALIST: Maybe 2023. The problem is investigations into sexual assaults that were unsubstantiated, whether they would be included in a data set?

    CLARE: Two separate questions. We want to stand this up as quickly as possible, and I mentioned in my previous answer the work that states are doing, but ACECQA, the National Independent Authority, is doing that work about what the elements of the register need to involve, and that will be presented to ministers when we meet in August. On that second question, that’s something that attorneys will be looking at as part of the working with children checks.

    JOURNALIST: Is it time for a national watchdog in this space?

    CLARE: Well, one of the things that the Productivity Commission recommended when they provided us with a blueprint for reform of early education and care, and I touched on the Accord, which is the equivalent for higher education, is a national early education and care commission. And I’ve got an open mind about that. I’ve said that in the media last week. What that report said is we’ve got to do a number of things to build a better, a fairer and a safer early education and care system. One of those, the first of those, is to pay workers more. When you pay people more, more people want to and we’re seeing the evidence of that this year. That 15 per cent pay rise has meant that we’re now seeing more people come back to the sector and building a permanent workforce. Our kids will be safer if the workers are permanent, that they’re not moving in and out of centres all the time. So that pay rise is already reaping dividends for parents and for our children. It also recommended that we remove the activity test so kids from disadvantaged backgrounds don’t miss out on the value of early education and care. And it’s recommended a commission like this. In its report, it didn’t say that this would have a role in safety, but that doesn’t mean that it can’t. And this is something that we will look at in the future.

    JOURNALIST: It was already hard to get child care workers in Australia. I know that there’s been a pay rise since then. Are you concerned that people aren’t going to be choosing child care careers following the really heinous allegations that have come out?

    CLARE: I might ask Jess to comment on this as well because I know how dear this is to your heart. We want people to do this job. There aren’t many jobs in this country more important. They’re vested with the trust of our most precious things, our children. The little ones that walk through the door or are carried through the door of centres every single day. And that pay rise is doing what we really wanted it to do last year. We’re seeing the number of people applying to be an early education and care worker jump by, what is it, Jess, more than 20 per cent. The number of vacancies drop by about the same amount as well. That tells us if you pay people more, people want to do the job. And I do worry that these people who do this incredibly important job, one of them is my cousin, she’s worked in this sector for 35 years. I remember when my little guy first went into care, I said, ‘how do I pick a good centre?’ And she said, ‘go to the place where the people have been working there forever, where they don’t want to leave.’ That’s a great centre, but it’s also a safe centre. And if we want that to be everywhere, you’ve got to pay people better. A lot of people have been leaving to go and work at Bunnings and Woolies just because you could earn more. And so that’s why that pay rise is important and that’s why rebuilding trust and faith in in this service, in this system, is so important.

    WALSH: Thanks, Jason. Well, I think when Jason’s answered a question, there’s not much left to say. But I’ve been going out to early childhood education centres for the past few weeks and talking to educators as they grapple with this. And they are absolutely devastated and distressed by these allegations. But it’s not making them want to leave the sector. It’s making them determined to stay. These are the people who want to provide quality early childhood education. That is what they are there for. That is what they are going into work to do every single day. We do want to see more dedicated, committed early childhood educators in the sector. And that is exactly what is happening with the pay rise, a historic pay rise of 15 per cent that educators themselves advocated for years and years. The previous government didn’t take action on that front. It meant that early childhood educators were undervalued. It meant that in our first term of office the workforce was really in crisis. People were leaving the jobs that they love because they weren’t earning enough and love just doesn’t pay the bills. So what we’re seeing with this pay rise is people coming back to the sector. We’re seeing people stay in the sector and we’re seeing them able to provide that really high quality care that children deserve and that they want to provide. And again, that continuity in an early learning centre with educators is the absolute key to quality and safety. When educators know each other, when they know the children, when they know the families, that’s when we get quality, safe, early childhood education. This historic 15 per cent pay rise has been a game changer for that.

    CLARE: Thanks very much everybody.
     

    MIL OSI News –

  • MIL-OSI Security: U.S.-Philippine Airmen Strengthen Ties During Cope Thunder 25-2

    Source: United States INDO PACIFIC COMMAND

    CLARK AIR BASE, Philippines — U.S. Pacific Air Forces and Philippine Air Force members participated in Cope Thunder 25-2, a bilateral training conducted across multiple locations in the Philippines. The exercise aimed to strengthen partnerships and support the Philippine Air Force’s modernization efforts, promoting regional and global stability.

    MIL Security OSI –

  • MIL-OSI Security: CNFK, ROKN, JMSDF Officers complete Trilateral Junior Officer Exchange in Korea

    Source: United States INDO PACIFIC COMMAND

    BUSAN, BUSAN GWANG’YEOGSI [PUSAN-KWANGYOKSHI], South Korea — Junior officers assigned to Commander, U.S. Naval Forces Korea (CNFK), Republic of Korea Navy (ROKN), and Japan Maritime Self Defense Force (JMSDF) participated in a three-day Trilateral Junior Officer Exchange across South Korea, July 16-18

    MIL Security OSI –

  • MIL-OSI Security: USCGC Myrtle Hazard completes operational period, deepens ties with Republic of Palau

    Source: United States INDO PACIFIC COMMAND

    SANTA RITA, Guam — The USCGC Myrtle Hazard (WPC 1139) crew completed a 29-day operational period on July 14, covering nearly 300 operational hours in the waters around Guam, the Commonwealth of the Northern Mariana Islands (CNMI), and the Republic of Palau.

    MIL Security OSI –

  • MIL-OSI Security: Team Andersen celebrates Guam’s 81st Liberation Day

    Source: United States INDO PACIFIC COMMAND

    ANDERSEN AIR FORCE BASE, Guam — 36th Wing Airmen and service members from every branch of the U.S. military marched, celebrated, and commemorated Guam’s 81st Liberation Day with the local community in the capital city of Hagatna, Guam, July 21, 2025.

    MIL Security OSI –

  • MIL-OSI Australia: Private groups: watch out for common CFC errors

    Source: New places to play in Gungahlin

    Compliance reviews have revealed a high error rate in privately owned and wealthy group CFC disclosures.

    Australian resident taxpayers (e.g. the head of a group of companies) must apply the CFC provisions if they have a controlling interest in a foreign company. If this applies to you, you need to disclose all CFCs, and their income, in tax returns and the international dealings schedule (IDS).

    We monitor private group compliance through a review program, where we’re regularly seeing incorrect disclosures that highlight knowledge gaps around the CFC provisions.

    Common errors

    Common errors we see are:

    • under-reporting of CFC attributable income in tax returns, often from errors in applying the active income test, or from failing to recognise tainted income
    • deemed dividends from unlisted country CFCs omitted from the taxpayer’s assessable income
    • incorrect IDS disclosures, including
      • completely overlooking CFCs including where there is associate-inclusive control
      • inaccurate reporting of CFC gross revenue and the number of CFCs acquired and disposed of.

    Private group compliance continues to be a key focus of our Tax Avoidance Taskforce. You need to lodge correct information, otherwise you’re risking lengthy review processes and costly amendments, so it’s important to check you’re complying.

    Get across your CFC obligations

    Follow these tips to make sure you’re getting it right:

    1. Review our Controlled foreign company page for the Private Wealth International Program. Knowing the CFC basics might help avoid mistakes.
    2. Discuss the CFC provisions with your adviser.
    3. Take care if your group is growing rapidly in size and complexity. This is when you’re most susceptible to mistakes.
    4. Keep your adviser across all business developments – seemingly small changes can have big tax implications.
    5. Amend any previously lodged tax returns if you discover an error. Waiting for us to notice may result in a tax bill including penalties and interest. 

    Keep up to date

    We have tailored communication channels for medium, large and multinational businesses, to keep you up to date with updates and changes you need to know.

    Read more articles in our online Business bulletins newsroom.

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    MIL OSI News –

  • MIL-OSI USA: Two Nominees Forwarded for District Court Judge in the 11th Judicial District

    Source: US State of Nebraska

    . The 11th Judicial District consists of Arthur, Chase, Dawson, Dundy, Frontier, Furnas, Gosper, Hayes, Hitchcock, Hooker, Keith, Lincoln, Logan, McPherson, Perkins, Red Willow, and Thomas counties. The vacancy is due to the resignation of Judge Matthew Neher.

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Pillen Praises Trump’s Progress on Trade

    Source: US State of Nebraska

    . Pillen Praises Trump’s Progress on Trade

     

    LINCOLN, NE – Governor Jim Pillen, the only farmer currently serving as a Governor in America, is praising the progress President Donald J. Trump and his Administration have made for our country through new trade deals. Today, the White House announced trade deals with Japan, Indonesia, and the Philippines.

    “I believe — wholeheartedly — the future for family farms in America gets brighter every day that Donald J. Trump is President. These trade deals and negotiations have the potential to set up American farmers and manufacturers for generations. This is a historic moment in our country, and I’m honored to work with President Trump and other great leaders like Secretary of Agriculture Rollins.”

    Last week, Governor Pillen hosted Shigeo Yamada, Japan’s Ambassador to the United States, in Lincoln. Japan is among America’s closest allies and a tremendous trading partner for Nebraska agriculture, particularly our beef and pork exports.

    Promoting Nebraska agriculture and business in Southeast Asia has been a top priority for the Pillen Administration. Last year, Lieutenant Governor Joe Kelly led a successful trade mission to Indonesia.

    MIL OSI USA News –

  • MIL-OSI Russia: Representatives of SCO Member States Visit Beijing, Xinjiang Uyghur Autonomous Region to Deepen Exchanges and Cooperation

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    From July 14 to 20, a Seminar for representatives of legislative bodies of member states of the Shanghai Cooperation Organization is being held in China, organized by the National People’s Congress.

    It was attended by more than 20 officials from 7 SCO member states, who held in-depth discussions and visited Beijing and Urumqi to fully understand the achievements of China’s modernization.

    The participants expressed their willingness to continuously deepen exchanges and cooperation with China and hoped that the legislative bodies of the member states would play a unique role in strengthening cooperation to build a community of shared destiny for the SCO.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Israel says ‘total victory’ in Gaza is necessary

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    JERUSALEM, July 23 (Xinhua) — Israel must achieve a complete victory in the war in the Gaza Strip, Israeli Defense Minister Israel Katz said on Tuesday.

    According to a statement released by the minister’s office, I. Katz assessed the situation on several fronts with IDF Chief of Staff Eyal Zamir and other senior commanders.

    “We have come as close as possible to achieving the goals of the war. We have two open theaters of military operations left in Gaza and Yemen, and we must strive for complete victory in both,” the head of the Ministry of Defense noted.

    I. Katz emphasized the importance of achieving the set military goals, primarily the return of all Israeli hostages and the capitulation of the Hamas movement.

    He added that there was a possibility of a renewed war against Iran and pointed to the need to preserve the “achievements” of the June operation against the Islamic Republic and develop an effective plan to force Iran to abandon its nuclear and missile programs.

    I. Katz also said that the IDF’s presence at checkpoints and in security zones in various areas, including Syria and Lebanon, is necessary to protect Israeli communities. The IDF will remain in refugee camps in the West Bank and will operate in other camps if necessary, he added.

    The minister’s comments came as talks on a Gaza ceasefire continue in Doha and Israeli media reports earlier in the day indicated significant progress.–0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: US and Philippines sign trade deal – D. Trump

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    WASHINGTON, July 22 (Xinhua) — U.S. President Donald Trump met with his Philippine counterpart Ferdinand Marcos Jr. here on Tuesday to discuss trade and bilateral relations.

    “We have a trade deal where the Philippines will have an open market and zero tariffs policy with the United States. The Philippines will pay a 19 percent tariff,” Trump wrote on the Truth Social social network.

    In a recent letter to F. Marcos Jr., D. Trump said the U.S. would raise tariffs on Philippine goods to 20 percent effective August 1.

    The White House has not yet released more details about the trade deal with the Philippines.

    F. Marcos Jr. said ties between the two countries “have evolved into a relationship as important as it can be.” -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Prime Ministers of Belarus and Tanzania held talks on promising areas of cooperation

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    MINSK, July 23 /Xinhua/ — Belarusian Prime Minister Aleksandr Turchin and his Tanzanian counterpart Kassim Majaliwa Majaliwa held talks in Minsk on Tuesday to develop political and interdepartmental dialogue, and discussed ways to develop bilateral trade and cooperation in food security, BelTA reported.

    During the meeting, A. Turchin noted that Belarus views Tanzania as an important partner in East Africa. “We see significant prospects for expanding cooperation in such areas as mechanical engineering, petrochemistry, medical, food and military-technical industries, tourism,” he noted and added that Belarus is ready to supply a wide range of quarry, road construction, municipal and fire-fighting equipment.

    Also, according to A. Turchin, Belarus is open to expanding supplies of coffee, tea, nuts, cotton, fruits and other products from Tanzania, including for processing and sale on the market of the Eurasian Economic Union.

    The Prime Minister of Tanzania noted that Belarusian business could consider opportunities for closer cooperation with the Tanzanian side in the agricultural sector. “The main focus should be on cooperation in the sphere of trade and economy,” he said.

    Following the negotiations, a number of agreements were concluded, in particular memorandums on political consultations, on cooperation in agriculture and on interaction in the field of education. A memorandum of cooperation was also signed between the Belarusian Chamber of Commerce and Industry and the Chamber of Commerce, Industry and Agriculture of Tanzania. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: China puts major oil field into operation in Bohai Sea

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 23 (Xinhua) — China National Offshore Oil Corp. (CNOOC) said Tuesday it has started production at an oil field in the Bohai Sea, marking a major step in the development of the country’s offshore energy resources.

    The Kenli 10-2 oil field is located in the southern waters of the Bohai Sea. It is the largest lithological field discovered to date in China’s offshore areas, with proven geological reserves of over 100 million tons.

    The first stage of the Kenli 10-2 development project plans to commission 79 production wells with an expected maximum daily flow rate of 3,000 tons of oil and gas equivalent. The second stage of field development will also be implemented here.

    To overcome the technical difficulties caused by the complex composition of heavy oil, CNOOC has established a sophisticated reservoir development technology system specifically designed for heavy oil production.

    “The successful launch of the first phase of the Kenli 10-2 oil field development project marks a new stage in the development of China’s complex offshore heavy oil reservoir,” said Yan Hongtao, deputy general manager of CNOOC, adding that “this is a key step toward achieving our annual production target of 40 million tons in the Bohai Sea within a year.” -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Hainan Free Trade Port to officially launch island-wide independent customs operations on December 18, 2025

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Xinhua | 23.07.2025

    Keywords: China

    Source: Xinhua

    Hainan Free Trade Port to officially launch island-wide independent customs operations on December 18, 2025 Hainan Free Trade Port to officially launch island-wide independent customs operations on December 18, 2025

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI USA: Case Opposes Public Lands And Natural Resources Funding Measure That Cripples Efforts To Combat Climate Change And Slashes Funds For National Parks

    Source: United States House of Representatives – Congressman Ed Case (Hawai‘i – District 1)

    (Washington, DC) – U.S. Congressman Ed Case (HI-01), a member of the House Appropriations Committee, voted in full Committee today against the proposed Fiscal Year (FY) 2026 Interior Appropriations bill that cut $2.9 billion from programs and agencies that support public lands and our nation’s natural resources.   

    The Interior, Environment and Related Appropriations bill funds the U.S. Department of the Interior, including the National Park Service (NPS), U.S. Fish and Wildlife Service, U.S. Geological Survey, Environmental Protection Agency, U.S. Forest Service and various independent agencies including the National Endowments on Arts and the Humanities. The bill’s FY 2026 discretionary funding level is $38 billion. This is a decrease of $2.9 billion from the FY 2025 enacted level.  

    “While these measures fund many critical Hawai‘i and priorities I requested, I regrettably had to vote against this version because it cripples efforts to deal with climate change by defunding all of the climate work by the U.S. Environmental Protection Agency,” said Case. 

    “It further decimates public lands by slashing funding for the National Park Service and gutting key conservation agencies that protect our parks, forests and wildlife. It also undermines museums and cultural institutions, cutting support for the Smithsonian and slashing the arts and humanities by $72 million each.”

    In full Committee debate on the measure, Case voiced his strong opposition to the bill’s proposed $1.7 billion in cuts to federal support for Drinking Water and Clean Water State Revolving Funds (see remarks here: https://youtu.be/0w197WN4wys).

    These vital programs offer low-cost financing to local communities for a broad spectrum of water quality infrastructure projects. They have played a critical role in efforts to remediate Red Hill, including supporting technical assistance for source water protection, and are critical to continued maintenance of Hawaii’s drinking water quality. 

    “Red Hill reinforced all over again that in an island community our water systems are fragile and priceless,” Case said.  

    “We need sustained investment not just to meet the urgent demands of remediation, but to ensure the long-term safety, resilience, and sustainability of our water infrastructure. We cannot cut back now on the very programs that have made that possible over the last half century,” Case said. 

    Continued support for the State Revolving Funds is also essential to Hawaii’s ability to confront emerging contaminants like PFAS, or “forever chemicals,” which pose serious risks to public health and the environment. Furthermore, these funds are critical for moving forward on 38 high-priority water infrastructure projects across the state. These projects strengthen drinking water safety, improve wastewater treatment, and build long-term resilience in Hawaii’s water systems. Without adequate federal investment, many of these initiatives risk delay or cancellation, leaving our communities vulnerable. 

    However, the measure added several of Case’s priority requests, including: 

    ·         $5 million for U.S. Fish and Wildlife Service’s State of the Birds Activities to respond to the urgent needs of critically endangered birds that now face possible extinction. These funds will help save numerous endemic birds in Hawai‘i that have been devastated by climate change and avian malaria.  

    ·         $45 million for the U.S. Geological Survey Biological Threats and Invasive Species Research Program.  

    ·         $66 million for the U.S. Geological Survey’s Climate Adaptation Science Centers, which includes the Pacific Islands Climate Adaptation Science Center based out of the University of Hawai‘i-Mānoa. These centers provide regionally relevant scientific information, tools and techniques to resource managers and communities in Hawai‘i in response to our changing climate.  

    ·         $63 million for State Historic Preservation Offices, which will help preserve Hawaii’s treasured historic properties.

    ·         $80 million for State Fire Assistance, which provides financial and technical support directly to states to enhance firefighting capacity, support community-based hazard mitigation and expand outreach and education to homeowners and communities concerning fire prevention. 

    ·         $20 million for the Joint Fire Science Program, which supports a national collaboration of fire science exchanges providing science information to federal, state, local, tribal and private stakeholders.  

    ·         $5 million for Japanese Confinement Site Grants and funding for the Amache National Historic Site, which was one of ten incarceration sites established by the War Relocation Authority during World War II to detain Japanese Americans who were forcibly removed from their communities on the West Coast.  

    Through his assignment on the Committee, Case was also able to secure a Member-designated Community Project Funding (CPF) project of $1,092,000 for the Department of Hawaiian Homelands (DHHL) to upgrade the sewer infrastructure at Papakōlea.  

    “Papakōlea is the only Hawaiian Home Lands community located in central Honolulu with more than 300 homes and some 1,300 residents,” said Case. “As the infrastructure in Papakōlea ages, the sewer system has become susceptible to cracks, root intrusions and other defects that diminish the effectiveness of the service lines. My CPF will assist DHHL to work on a sewer line rehabilitation/replacement program for the community.” 

    The House’s CPF rules require that each project must have demonstrated community support, must be fully disclosed by the requesting Member and must be subject to audit by the independent Government Accountability Office. Case’s disclosures are here: https://case.house.gov/services/funding-disclosures.htm.  

    A summary of the bill is available here.  

    This is the eighth bill of twelve separate bills developed and approved by the Appropriations Committee that would fund the federal government at some $1.6 trillion for FY 2026 commencing October 1st of this year. The bill now moves on to the full House of Representatives for its consideration.

    ###

     

    MIL OSI USA News –

  • MIL-OSI New Zealand: Affordable homes to address Te Kūiti housing shortage

    Source: New Zealand Government

    Mā te hononga ka whai kaha. 

    Te Kūiti whānau will enjoy greater access to modern affordable rental housing thanks to an Iwi-led partnership backed by the Government, Associate Housing Minister Tama Potaka says.

    The Government has approved in principle $17million into a partnership with Ngāti Maniapoto that will build 40 affordable rental homes with infrastructure in Te Kūiti, giving effect to the Crown’s Treaty of Waitangi settlement commitment with the iwi. The Iwi will also contribute a significant portion to the development including $11million – representing 50 percent of the housing supply costs – and the land. 

    “This is an area of high housing need. With over a third of Te Kūiti residents renting, the limited availability of rental properties makes it difficult for whānau to secure stable housing,” Mr Potaka says.

    “We’re taking action to help address this shortage, which will also help local businesses because employers can struggle to attract and retain staff due to the lack of affordable housing. This mahi can mean a world of difference for whānau in small rural communities that need stable employment and incomes.

    “The development, named Te Kirikiri, will feature affordable rentals of a mixed typology to meet the diverse needs of kaumātua and young whānau, consisting of 20 two-bedroom accessible homes for kaumātua, 13 three-bedroom homes and 7 four-bedroom homes.  

    “Work is scheduled to begin next month and will take about two years to complete. 

    “Te Kirikiri will incorporate tikanga Māori and kaupapa-led design principles, and include the use of wetlands, native grasses, trees, and shrubs to create safe, communal spaces for whānau to enjoy.

    “These affordable rentals will support Ngāti Maniapoto’s ambition to place 200 whānau in safe, secure, high-quality and affordable homes by 2030.”

    The Government investment is part of a $200 million commitment announced earlier this year that will accelerate Māori housing projects across the country and enable the delivery of 400 affordable rentals in high-need areas by the end of June 2027.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: NZ renews commitment to Pacific health, agriculture

    Source: New Zealand Government

    Pacific Peoples Minister Dr Shane Reti this week attended the Pacific Islands Forum Economic Ministers Meeting in Suva, Fiji, where he reaffirmed New Zealand’s commitment to Pacific-led priorities and announced new support for climate resilience and public health.

    “This week’s Forum focused on strengthening regional ties and tackling key challenges like economic development, banking access, and labour mobility,” says Dr Reti.

    While in Suva, Dr Reti launched Fiji’s NZ$3.2 million participation in the Pacific Climate-Smart Agriculture and Sustainable Land Management Partnership.

    “This investment will help develop climate-resilient crops, restore soil health, and support sustainable farming practices in Fiji,” says Dr Reti.

    He also announced NZ$4 million in support of Fiji’s response to its national HIV outbreak.

    “Fiji is facing a serious public health crisis, and New Zealand is proud to stand alongside them. This funding will support efforts to reduce transmission, improve treatment, and fight stigma,” says Dr Reti.

    Both initiatives align with the Duavata Partnership and are funded through New Zealand’s International Development Cooperation Programme.

    “New Zealand is backing Pacific leadership and resilience on the issues that matter most.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health – Nelson Hospital review fails to hold leadership to account – ASMS says

    Source: Association of Salaried Medical Specialists

    The review of Nelson Hospital released by Health New Zealand today is little more than a ‘plan to make a plan’ the Association of Salaried Medical Specialists says.
    The review just restates well-established problems with leadership and severe understaffing at Nelson Hospital which are causing delayed care for hundreds of patients.
    The Nelson Review was commissioned after Senior Medical Officers spoke to media in March about the poor working conditions. Doctors, fed up with inaction, described massive wait times for first specialist appointments, and repeated refusals from leadership to address staffing shortages across many departments.
    This prompted Health New Zealand’s chief clinical officer Richard Sullivan to commission a review. He said, “I would hope we will have some answers within weeks.”
    “Four months later and all we have is a a plan to make a plan,” ASMS executive director Sarah Dalton says.”
    Doctors, nurses and patients want solutions to these ongoing problems, not a bland description of known issues leadership should have addressed years ago.
    “The review lacks timeframes, holds no leaders to account for these failures. Just last month Nelson Hospital was again in the news for booking “ghost clinics” in what appears to be an attempt to game the system in regard to first specialists’ appointments numbers.
    “There is a worrying trend of poor management and poor leadership at Nelson Hospital which the review fails to address.”ASMS is disappointed there has been little engagement with hospital staff – and no consultation as to the review’s findings and recommendations. 
    “We understand regional deputy chief executive Martin Keogh and National Chief Clinical Officer Dame Helen Stokes-Lampard presented the report to just a handful of senior staff and gave other staff just 24 hours’ notice to a 30-minute briefing.
    “This is a wasted opportunity to make positive change.”Dalton says the real finding from the review is that the issues at Nelson are present in other hospitals around the motu.
    “The review uses comparative data that paints the dire picture of medical staffing gaps in similar sized hospitals across the country too. This aligns with our own findings. 
    We simply need more doctors,” she says.
    “Short staffing and increased acute patient demand, coupled with a lack of accountability from our health leaders that allow hospitals to be so poorly staffed has bred a culture of getting by instead of getting ahead.”

    MIL OSI New Zealand News –

  • India extends airspace ban on Pakistani aircraft till Aug 23 amid security concerns

    Source: Government of India

    Source: Government of India (4)

    India on Tuesday extended its ban on Pakistani aircraft entering Indian airspace till August 23, amid continued tensions between the two neighbours.

    Union Minister of State for Civil Aviation Murlidhar Mohol said in a post on X, “Notice to Airmen (NOTAM) restricting Pakistani aircraft from entering Indian airspace has been officially extended until 23rd August 2025.”

    “This extension reflects continued strategic considerations and is in line with prevailing security protocols. Stay tuned for further updates,” the minister added.

    The move follows Islamabad’s decision last week to extend its own airspace restrictions on Indian carriers till August 24. The Pakistan Airports Authority (PAA) said the ban will remain in effect until 5:19 a.m. (IST) on August 24.

    Meanwhile, India has issued a separate NOTAM for a large-scale Indian Air Force (IAF) exercise in Rajasthan, along the Pakistan border, from July 23 to 25. The exercise will cover areas from Barmer to Jodhpur.

    A NOTAM is issued when a specific airspace needs to be cleared of civilian air traffic. Similar notices were issued during previous tensions with Pakistan to ensure that no passenger aircraft would be caught in the middle of potential aerial operations. It helps prevent civilian casualties by keeping commercial aircraft away from zones of military activity.

    The latest NOTAM was issued against the backdrop of India’s ‘Operation Sindoor’, launched on May 7 in response to the terror attack in Pahalgam, where Pakistan-sponsored terrorists killed 26 civilians.

    IANS

  • MIL-OSI Banking: Money Market Operations as on July 22, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,13,605.52 5.69 4.75-6.60
         I. Call Money 17,157.62 5.62 4.75-5.80
         II. Triparty Repo 4,17,073.80 5.69 5.50-5.83
         III. Market Repo 1,76,684.55 5.69 5.00-5.90
         IV. Repo in Corporate Bond 2,689.55 5.90 5.84-6.60
    B. Term Segment      
         I. Notice Money** 140.50 5.48 4.95-5.70
         II. Term Money@@ 806.00 – 5.40-5.85
         III. Triparty Repo 1,820.00 5.66 5.40-5.70
         IV. Market Repo 0.00 – –
         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, 22/07/2025 1 Wed, 23/07/2025 13,273.00 5.75
    4. SDFΔ# Tue, 22/07/2025 1 Wed, 23/07/2025 63,745.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -50,472.00  
    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, 18/07/2025 7 Fri, 25/07/2025 2,00,027.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,574.40  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -1,91,452.60  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,41,924.60  
    G. Cash Reserves Position of Scheduled Commercial Banks          
         (i) Cash balances with RBI as on July 22, 2025 9,44,918.11  
         (ii) Average daily cash reserve requirement for the fortnight ending July 25, 2025 9,63,288.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 22, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 27, 2025 5,79,904.00  

    @ 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.

    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/763

    MIL OSI Global Banks –

  • MIL-Evening Report: Young Japanese voters embrace right-wing populist parties, leaving the prime minister on the brink

    Source: The Conversation (Au and NZ) – By Craig Mark, Adjunct Lecturer, Faculty of Economics, Hosei University

    Japan’s ruling coalition suffered the widely expected loss of its majority in the July 20 election, as young voters shifted to the populist right. As a result, Shigeru Ishiba’s prime ministership now hangs in the balance.

    The election was for half of the 248 members of the House of Councillors, the upper house of the National Diet, Japan’s parliament. The Liberal Democratic Party (LDP) secured 39 seats, and its minor coalition partner, the Komeito Party, just eight. This left it three seats short of the 50 required to maintain its majority, as populist opposition parties made dramatic gains.

    The LDP is now confronted with minorities in both houses of the Diet for the first time in the party’s 70-year history. It is a huge decline from its postwar dominance of Japanese politics.

    In a press conference on Monday, Ishiba said he would not resign, as the LDP remained the largest party in the upper house. He also insisted he needed to stay in office to complete negotiations with the Trump administration, which had threatened to continue harsh trade tariffs after August 1.

    But Ishiba is facing calls from disgruntled LDP Diet members to step down. He had already led the LDP into minority government in last October’s election for the lower house of the Diet, the House of Representatives. He called the snap election in the wake of securing LDP leadership last September.



    Read more:
    Why did Japan’s new leader trigger snap elections only a week after taking office? And what happens next?

    However, the main opposition Constitutional Democratic Party of Japan (CDP) was not responsible for this latest defeat – it managed only to retain its 22 seats. Instead, the LDP and Komeito instead lost out to the two rising populist parties: the centre-right Democratic Party for the People (DPFP), which went from four to 17 seats, and the far-right Sanseito party, which made the most dramatic gains, from one to 14 seats.

    Main opposition leader Yoshihiko Noda now needs to again consider whether to bring on a motion of no confidence in the Ishiba cabinet in the lower house. Last month, he backed away from doing so. Such a motion would likely succeed with the support of the other opposition parties, and immediately trigger a snap lower house election. But it would also be highly risky, as it could allow the two right-wing parties to again overshadow the main opposition.

    The young shift to the right

    Exit polls showed younger people voted in greater numbers for the two right-wing parties. Their dissatisfaction erupted against the political status quo that has long favoured older generations. Older Japanese remain the main supporters for the two major parties, as well as the smaller Komeito and the declining Japanese Communist Party.

    Many voters were angry about declining wages, persistent inflation, and a growing tax burden to fund the straining pension and welfare system that disproportionately benefits the elderly.

    The leaders of the two right-wing parties, 56-year-old Yuichiro Tamaki and 47-year-old Sohei Kamiya, more effectively used social media to exploit this electoral discontent and push their populist messages.

    Sanseito emerged at the start of the COVID pandemic in March 2020. It promoted anti-vaccination conspiracy theories and xenophobia through its campaign slogan of “Japanese First”.

    As more people have expressed frustration with Japan’s record tourist numbers, Sanseito and the smaller far-right Conservative Party of Japan sought to scapegoat the relatively small foreign resident population of waging a “silent invasion”.

    This includes spreading false stories about them causing local crime waves, depressing wages, hiking real estate prices, and abusing welfare.

    The number of foreign-born residents, mostly from other Asian countries, has steadily risen to 3.8 million to meet the demands of the shrinking labour force. However, it still only comprises about 3% of Japan’s (ageing and shrinking) population.

    Despite running and electing a majority of female candidates, Sanseito has also attracted criticism for wanting to end gender equality so as to raise the birth rate. It also wants to remove democratic protections from the postwar constitution and return to an imperial form of government.

    The success of the two right-wing parties, along with the nationalist neoliberal Japan Innovation Party, threatens to transform Japanese politics.

    However, it remains to be seen whether they will be able to cooperate effectively in the Diet with other parties to enact their policy agenda. This includes cutting the consumption tax rate while boosting subsidies to support families and farmers, and restricting immigration.

    Uncertainty reigns

    The increased political uncertainty will raise concerns about Japan’s ability to continue its strategic reorientation. It has pledged to increase its defence spending to 2% of gross domestic product (GDP). It also wants to increase security cooperation with Europe, India and Australia.

    The LDP’s Diet members will hold a full party meeting on July 31 to assess the election. If a majority of LDP members across both houses and representatives of the party’s prefectural chapters petition for a leadership ballot, they could mount a spill against Ishiba.

    Ishiba now needs to continue to negotiate with opposition parties to pass legislation in both houses of the Diet. US President Donald Trump’s sudden announcement that a “massive” deal has been struck with Japan for a reciprocal tariff rate of 15% may yet give him a temporary political reprieve.

    But as his post-election approval rating hits a record low 23%, his ailing premiership looks even more vulnerable.

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

    – ref. Young Japanese voters embrace right-wing populist parties, leaving the prime minister on the brink – https://theconversation.com/young-japanese-voters-embrace-right-wing-populist-parties-leaving-the-prime-minister-on-the-brink-261673

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Global investors more bullish on Chinese assets

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

    An aerial drone photo taken on Dec. 4, 2024 shows a view of Shenzhen, south China’s Guangdong Province. [Photo/Xinhua]

    China’s capital markets are gaining increasing traction among global investors as foreign investment surged back in the first half of this year, supported by the country’s economic resilience, continuing opening-up policies and growing demand for more diversified and renminbi-denominated assets, officials and experts said on Tuesday.

    Net inflows of foreign investment in China’s securities market — including bonds and equities — reached approximately $33 billion in the first five months of the year, reversing a net outflow seen in the second half of last year, the State Administration of Foreign Exchange said on Tuesday.

    The renewed confidence is particularly evident in the stock market, as foreign investors posted a net increase in holdings of $10.1 billion in onshore stocks and funds in the first half, ending a two-year trend of net outflows. During the May-June period, the net increase surged to $18.8 billion, the SAFE said.

    Driven by China’s sound economic fundamentals, large financial markets, improved market access and investors’ diversification demand, “we expect a continuing, gradual increase in foreign allocation to renminbi assets”, said Jia Ning, head of the administration’s Balance of Payments Department.

    Heightened volatility in global financial markets has led investors to seek more diversified asset portfolios. Renminbi-denominated assets — with currency stability and a relatively independent return profile — have become an important allocation target for global investors to diversify risks and enhance returns, Jia said.

    Citing a recent survey by the Official Monetary and Financial Institutions Forum, an independent think tank concerned with central banking, economic policy and public investment, Jia said that 30 percent of central banks worldwide plan to increase their allocation to renminbi assets, while several international investment banks have upgraded their outlook on Chinese assets from neutral to overweight.

    Thomas Fang, head of China global markets at UBS, said that the Swiss global wealth manager also sees rising confidence among global investors in Chinese markets, both A and H shares, as the nation’s shining economic prospects help them diversify allocations from US dollar-denominated assets.

    UBS has upgraded its full-year GDP growth forecast for China to 4.7 percent after the country posted 5.3 percent economic growth in the first half.

    “We’ve been pounding the table that the overall underweight of the China assets would not be sustainable,” Fang said, adding that recent opening-up policies have offered overseas investors more instruments — ranging from commodity futures to listed options — to invest in China, facilitating their risk management and helping them take bigger positions there.

    Li Bin, deputy head of the SAFE, said that China’s steady opening-up, high-quality economic development and growing foreign exchange market resilience will continue to help keep the renminbi exchange rate generally stable within a reasonable and balanced range, while foreign exchange regulators are well-positioned to mitigate any external shocks.

    Li said that China’s foreign exchange market has performed better than expected with strong resilience this year, as the renminbi strengthened by 1.9 percent against the greenback in the first half with no signs of a one-way expectation for either appreciation or depreciation.

    Guo Kai, executive president of the CF40 Institute, a research center affiliated with the China Finance 40 Forum think tank, said that China should advance institutional financial opening-up in order to sustain foreign investors’ rising allocation in renminbi-denominated assets and lift the Chinese currency’s role as a global reserve currency.

    “The key lies in continuing to improve the clarity of rules, policy transparency, data quality, market communication and the rule of law, to which international investors attach great attention,” Guo said.

    SAFE announced more measures on opening-up on Tuesday, including a nationwide removal of registration requirements for the reinvestment of foreign direct investment and the expansion of pilot programs that allow banks to directly process external debt registrations under the Qualified Foreign Limited Partner mechanism, through which foreign investors participate in China’s private equity and venture capital markets.

    From January to May, the net inflow of equity-based direct investment into China reached $31.1 billion, up 16 percent year-on-year, the administration said.

    MIL OSI China News –

  • MIL-OSI China: Inbound tourism in Shanghai heats up in summer travel surge

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

    Inbound tourism in Shanghai heats up in summer travel surge

    Xinhua | July 23, 2025

    Tourists Alfredo Cimmino (L) and Giulio Bartoli from Italy take a selfie with Shanghai Oriental Pearl Tower at the Bund area in Shanghai, east China, July 18, 2025. Thanks to China’s visa-free policies and related measures, the popularity of both travel and shopping in China among foreigners has risen, serving as a boost to the country’s tourism development.

    Foreign nationals made a total of 38.05 million trips to or from China in the first six months of the year, which was an increase of 30.2 percent year on year, the National Immigration Administration (NIA) said on July 16.

    Of these trips, 13.64 million were visa-free entries, an increase of 53.9 percent from the same period last year, the NIA said.

    Shanghai has seen a surge in inbound tourism in summer travel season this year since July 1. The city recorded 187 thousands inbound tourist trips during July 1 to July 15, a 35.5 percent increase from the previous year. Among them, 92 thousands visits were visa-free entries, accounting for nearly 50 percent of the total number of inbound foreign travelers. (Xinhua/Chen Haoming)

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    MIL OSI China News –

  • MIL-OSI China: Hong Kong sees equity market revival amid policy incentives, improved outlook

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

    Recent initiatives from the central government have boosted market liquidity. Upgrades to the Bond Connect, enhancements to the Cross-boundary Wealth Management Connect Scheme, and facilitative payment arrangements for Hong Kong and Macao residents purchasing properties in the Chinese mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), have contributed to this positive momentum.

    The China Securities Regulatory Commission’s efforts to optimize the Shanghai-Hong Kong and Shenzhen-Hong Kong stock connects further reinforce Hong Kong’s status as an international financial hub.

    Economist Leung Hoi Ming notes that China’s position as the world’s second-largest economy is expected to contribute about 21 percent of global GDP growth, providing solid support for Hong Kong stocks.

    Hong Kong consistently ranks as the world’s freest economy, third among global financial centers, and maintains top positions in investment climate, international trade, commercial regulations, and air cargo.

    The Hong Kong Special Administrative Region (HKSAR) government’s moves to streamline market listing procedures have helped boost initial public offerings (IPOs) by 30 percent year on year to 52 cases by mid-July. Total funds raised soared 590 percent to 124 billion Hong Kong dollars (15.8 billion U.S. dollars), making Hong Kong the biggest IPO market worldwide, HKSAR Chief Executive John Lee said in a social media post on Monday.

    The unique valuation advantage of Hong Kong stocks continues to attract both international and Chinese mainland investments. Recent data indicates a significant influx of southbound funds, reflecting renewed confidence among Chinese mainland investors.

    Carlson Tong, chairman of Hong Kong Exchanges and Clearing Limited (HKEX), mentioned that Chinese mainland companies currently listed in Hong Kong account for 81 percent of the total market value.

    The ongoing strength of Hong Kong stocks positively impacts both local and Chinese mainland capital markets, enhancing investor confidence and liquidity. Kevin Liu, chief offshore China and Overseas strategist at China International Capital Corporation, highlighted that active liquidity in the Hong Kong stock market is evident in an average daily trading volume of 240.6 billion Hong Kong dollars, showing a notable increase compared to the average daily trading volume in 2024, setting a historical high.

    Improved financing conditions are encouraging companies to list and refinance, particularly in high-growth sectors like technology and innovation. Since early 2025, driven by sectors such as AI, new consumption, and innovative pharmaceuticals, Hong Kong’s market has even outperformed its global counterparts at times, said Liu.

    As the stock market rises, global interest in China’s economy increases, promoting a virtuous circle of capital market openness and high-quality economic development, experts say.

    Leung believes that the stock market’s rise reflects positive expectations regarding the fundamentals of the economy of the Chinese mainland, attracting more attention and investment from global capital. This influx brings more mature investment concepts and resources into the capital market, further optimizing its structure, he added.

    Meanwhile, experts emphasize the need for continued market optimization to attract long-term investment, noting that encouraging more quality companies to list in Hong Kong will deepen and stabilize the market, enhancing its appeal as a global capital platform.

    The HKSAR government will continue to improve the listing regime and boost market liquidity to attract more high-quality global companies to list in Hong Kong, Lee pledged earlier. 

    MIL OSI China News –

  • MIL-OSI China: China’s Hainan free trade port to allow overseas investment in financial products

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

    China’s Hainan free trade port to allow overseas investment in financial products

    Xinhua | July 23, 2025

    China’s Hainan Free Trade Port (FTP) is set to launch a pilot program on August 21 this year, enabling overseas investors to access domestic financial products offered by local financial institutions.

    Eligible products will include wealth management products, private asset management products from securities, fund, and futures operators, publicly offered securities investment funds, and insurance asset management products.

    The program aims to diversify cross-border financial product offerings and explore new channels for overseas investors to access China’s domestic market, according to an official with the Hainan branch of the People’s Bank of China, one of the co-formulators of the rules.

    It is also expected to attract both domestic and international asset management institutions to operate in Hainan, supporting the development of the Hainan FTP, according to the official.

    As part of its broader economic strategy, China is transforming Hainan into a Free Trade Port. 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: Time for China, EU to broaden consensus on navigating next 50 years of relations

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

    The upcoming China-EU Summit presents a valuable opportunity to reflect on the experience and insights gained from 50 years of bilateral ties. It offers a platform to build consensus and chart a stable and healthy path forward that benefits both sides and the world.

    The summit comes at a time when geopolitical tensions, protectionism and unilateralism are increasingly fragmenting global relations. Furthermore, China-EU relations are at a critical juncture, presenting opportunities for deepening pragmatic cooperation while also highlighting the need for strengthened strategic communication to address global challenges and effectively manage differences.

    In this context, there is hope that the meeting will convey clear and positive messages to advance win-win cooperation based on mutual respect and openness. The summit aims to chart a course for the next 50 years of bilateral relations, safeguard free trade and multilateralism, and provide certainty and positive energy in a world facing mounting challenges.

    The past half century has witnessed remarkable developments of China-EU cooperation. The bilateral trade volume of goods increased from 2.4 billion U.S. dollars in 1975 to 785.8 billion dollars in 2024. Two-way investment stock has grown from nearly zero to 260 billion dollars. China and the EU are each other’s second-largest trading partners, with economic complementarity being a key feature of their cooperation.

    China-EU cooperation serves as a prime example of mutually beneficial cooperation in the era of economic globalization, despite differences in history, culture, social systems and development stages.

    Airbus illustrates this partnership well. Since entering the Chinese mainland market 40 years ago, the European aircraft manufacturer has seen its market share in China grow to more than 50 percent.

    In 2003, China and the EU established a comprehensive strategic partnership. They have established over 70 consultation and dialogue mechanisms that cover various fields such as politics, economy and trade, humanities, science and technology, energy, and the environment. Additionally, the two sides have increased cooperation in the areas of digital and green transition.

    Some valuable experience for comprehensive development includes the commitments to mutual respect, mutually beneficial cooperation, and free trade. These principles are the cornerstones of future China-EU ties, which is among the most influential relations worldwide.

    Fruitful China-EU cooperation has contributed to the development and progress of both sides, delivering tangible benefits for nearly two billion people in China and the EU, and greatly promoted world peace and development.

    However, in recent years, the bilateral relationship has faced difficulties and challenges, due to various frictions and differences on issues like trade. This has been particularly evident since the EU adopted a “partner-competitor-systemic rival” framework for characterizing bilateral relations in 2019. Some describe the EU’s positioning of China as akin to having all traffic lights (green, yellow and red) on at the same time. This approach not only fails to direct traffic, but will inevitably cause disruption.

    Chinese culture holds that complaining about others will not lead to self-improvement. Given the scale of bilateral trade and the growing competitiveness of some of China’s industries, it is natural for some differences and frictions to arise. Solutions lie in dialogue and consultation.

    The EU side has expressed concerns about its trade deficit with China. Yet, a thorough examination of the trade imbalance reveals that the situation is more complex than the deficit figure suggests. Three facts offer different perspectives. Firstly, the EU has long enjoyed a surplus in services trade with China. Secondly, it restricts the export of high-tech products to China. Thirdly, over one-third of exports from EU companies in China are sold to Europe, which means European companies get many of the benefits of the trade surplus.

    There is no fundamental conflict of interests between China and the EU, but rather extensive common interests. Greater benefits will only come from partnership rather than rivalry. Bilateral cooperation was not — and will never be — a zero-sum game. To truly understand China-EU relations, it is important to hold a long-term, strategic and comprehensive perspective.

    The world is currently experiencing significant turbulence and change. As China and the EU prepare for the next 50 years of cooperation, it is particularly important to reflect on and adhere to the original aspirations that guided the establishment of bilateral relations. This includes promoting values such as mutual benefit, solving problems through consultations, and opposing hegemony.

    By learning from the past, the 25th China-EU Summit on Thursday should rise above differences and pool consensus to open up a new chapter of bilateral relations. 

    MIL OSI China News –

  • Trump strikes trade deal with Japan to cut tariffs

    Source: Government of India

    Source: Government of India (4)

    The United States and Japan struck a deal to lower the hefty tariffs President Donald Trump threatened to impose on goods from its Asian ally that included a pledge by Japan to invest $550 billion in the United States.

    The agreement – including a 15% tariff on all imported Japanese goods, down from a proposed 25% – is the most significant of the string of trade deals the White House has reached ahead of an approaching August 1 deadline for higher levies to kick in.

    “I just signed the largest TRADE DEAL in history with Japan,” Trump said on his Truth Social platform. “This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan.”

    Ishiba, who is facing political pressure after a bruising election defeat on Sunday, hailed the deal as “the lowest figure among countries that have a trade surplus with the U.S.”.

    The two sides also agreed to cut tariff 25% tariffs already imposed on Japanese autos to 15%, Ishiba said. Auto exports account for more than a quarter of Japan’s exports to the U.S.

    The announcement ignited a rally in Japanese stocks, with the benchmark Nikkei climbing 2.6% to its highest in a year. Shares of automakers surged in particular, with Toyota 7203.T up more than 11%, and Honda 7267.T and Nissan 7201.T both up more than 8%.

    The exuberance extended to shares of South Korean carmakers as well, as the Japan deal stoked optimism that South Korea could strike a comparable deal. The yen firmed slightly against the dollar, and U.S. equity index futures edged upward.

    But U.S. automakers signaled their unhappiness with the deal, raising concerns about a trade regime that could cut tariffs on auto imports from Japan to 15% while leaving tariffs on imports from Canada and Mexico at 25%.

    Matt Blunt, who heads the American Automotive Policy Council which represents General Motors GM.N Ford F.N and Chrysler-parent Stellantis STLAM.MI, said “any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American-built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers.”

    ‘MISSION COMPLETE’

    Autos are a huge part of U.S.-Japan trade, but almost all of it is one way to the U.S. from Japan, a fact that has long irked Trump. In 2024, the U.S. imported more than $55 billion of vehicles and automotive parts while just over $2 billion were sold into the Japanese market from the U.S.

    Two-way trade between the two countries totaled nearly $230 billion in 2024, with Japan running a trade surplus of nearly $70 billion. Japan is the fifth-largest U.S. trading partner in goods, U.S. Census Bureau data show.

    Trump’s announcement followed a meeting with Japan’s top tariff negotiator, Ryosei Akazawa, at the White House on Tuesday.

    “#Mission Complete,” Akazawa wrote on X.

    The deal was “a better outcome” for Japan than it potentially could have been, given Trump’s earlier unilateral tariff threats, said Kristina Clifton, a senior economist at the Commonwealth Bank of Australia in Sydney.

    “Steel, aluminium, and also cars are important exports for Japan, so it’ll be interesting to see if there’s any specific carve-outs for those,” Clifton said.

    Kazutaka Maeda, an economist at Meiji Yasuda Research Institute, said that “with the 15% tariff rate, I expect the Japanese economy to avoid recession.”

    Japan is the largest investor in the United States. Together with pension giant GPIF and Japanese insurers, the country has about $2 trillion invested in U.S. markets.

    Besides that, Bank of Japan data shows direct Japanese investment in the United States was $1.2 trillion at the end of 2024, and Japanese direct investment flows amounted to $137 billion in North America last year.

    Speaking later at the White House, Trump also expressed fresh optimism that Japan would form a joint venture with Washington to support a gas pipeline in Alaska long sought by his administration.

    “We concluded the one deal … and now we’re going to conclude another one because they’re forming a joint venture with us at, in Alaska, as you know, for the LNG,” Trump told lawmakers at the White House. “They’re all set to make that deal now.”

    Trump aides are feverishly working to close trade deals ahead of an August 1 deadline that Trump has repeatedly pushed back under pressure from markets and intense lobbying by industry. By that date, countries are set to face steep new tariffs beyond those Trump has already imposed since taking office in January.

    Trump has announced framework agreements with Britain, Vietnam, Indonesia and paused a tit-for-tat tariff battle with China, though details are still to be worked out with all of those countries.

    At the White House, Trump said negotiators from the European Union would be in Washington on Wednesday.

    -Reuters

  • MIL-OSI New Zealand: Asia Pacific – Sixth Street Welcomes Stuart Wrigley to Expand Firm’s Presence in Asia Pacific

    Source: Sixth Street

    Establishes new Singapore office to deepen local relationships and expand investment capabilities

    SAN FRANCISCO & SINGAPORE – Sixth Street, a leading global investment firm, today announced the appointment of Stuart Wrigley as Partner, Head of Sixth Street Asia Pacific and Head of Capital Formation and Strategy International. Wrigley will also lead the firm’s new Singapore office, which is expected to open in October 2025.

    In this newly created role, Wrigley will be responsible for leading the expansion of Sixth Street’s client franchise across Asia Pacific, Europe and the Middle East. His mandate will focus on deepening relationships with existing investors, while leading new capital formation activity, strategic partnerships and the expansion of the firm’s investment capabilities in Asia Pacific. Sixth Street has built a longstanding track record in Asia Pacific, having invested in the region for more than a decade, including AirTrunk and ESR Group Limited.

    “Stuart brings the depth of experience and expertise to accelerate our activity internationally,” said Sixth Street Co-Founder and Chief Executive Officer Alan Waxman. “We’ve developed a close relationship with Stuart over the course of two decades. In that time, he has demonstrated his strength as a business builder and clear alignment with our values of entrepreneurship, integrity and teamwork. We believe that the unconstrained and thematic nature of our investment platform is well positioned to deliver investment excellence and serve our investors in these strategic regions. We are committed to Asia Pacific and look forward to further expanding our presence through the opening of our new office in Singapore.”

    Wrigley joins Sixth Street following a 24-year tenure at Goldman Sachs, where he most recently served as Head of Client Solutions Group in Asia Pacific for Goldman Sachs Asset Management (GSAM). In this role, he supported GSAM’s expansion across Asia Pacific and led a team focused on developing tailored investment strategies for institutional and wealth management clients in the region.

    “I have been consistently impressed with Sixth Street’s culture, team and success in building a truly differentiated global investment firm,” added Stuart Wrigley, Partner, Head of Sixth Street Asia Pacific and Head of Capital Formation and Strategy International at Sixth Street. “Having spent 18 years in Asia Pacific and the Middle East, I believe that Sixth Street’s flexible, long-term capital has a unique opportunity to further support great companies in these regions and, most importantly, serve our investors.”

    About Sixth Street

    Sixth Street is a global investment firm with over $115 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and “One Team” culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 650 team members including over 280 investment professionals around the world. For more information, visit www.sixthstreet.com, and follow Sixth Street on LinkedIn.

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Deputy Prime Minister of the Russian Federation Dmitry Grigorenko visited Novosibirsk State University

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    On Monday, July 21, Deputy Prime Minister of the Russian Federation – Chief of the Government Staff Dmitry Grigorenko visited the Novosibirsk Region on a working visit. One of the items on the agenda was a visit to Novosibirsk State University, where guests were presented with developments of the Center for Artificial Intelligence (CAI) and the Advanced Engineering School (AES) of NSU.

    During the meeting, the rector of NSU, academician of the Russian Academy of Sciences Mikhail Fedoruk, introduced the vice-premier to the history of the university, told him what is special about NSU, what it is now and what are the plans for the near future. He noted the special role of the university as a center of attraction for innovations and its contribution to the development of Akademgorodok, Novosibirsk and the country as a whole. Mikhail Fedoruk also emphasized that all the main strategic technological projects that the university is implementing within the framework of the Priority 2030 program are somehow related to new technologies and artificial intelligence.

    The AI Center employees, in turn, presented a number of projects that are at various stages of readiness. In partnership with Rostelecom, a whole line of video detectors is being developed that monitor various situations that require the intervention of emergency and city services.

    Currently, about two dozen such detectors have been created, some of which have already been installed for testing in real conditions at the university campus facilities. In the future, the developers want to move on to creating detectors capable of tracking several specified signs or threats at once in order to optimize the operation of video surveillance systems.

    A prototype of an autonomous intelligent assistant for visually impaired and blind patients was also presented, operating on the basis of using large language models and artificial intelligence technologies. This is a joint development with another industrial partner of the AI Center – the Novosibirsk branch of the Federal State Autonomous Institution “NMITs “MNTK “Microsurgery of the Eye” named after Academician S.N. Fedorov” of the Ministry of Health of the Russian Federation.

    — The principle of operation of this system is simple: a video camera will “see” instead of a person, the information from which will be sent to a portable computer, which will convert it into text. Then the text description is converted by a voice assistant and sent through headphones directly to the patient, — explained the head of the project at the NSU Center for Information Technologies Alexey Okunev.

    Another area of work is related to monitoring atmospheric and noise pollution in municipalities. Here, the partner of the NSU Center for Informatics and Information Technologies is the Novosibirsk company CityAir, which specializes in the production and maintenance of networks and services for monitoring the quality of atmospheric air. Together with the university, the company intends to more widely implement artificial intelligence technologies in its work, thereby increasing the capabilities of the supplied equipment.

    The NSU Advanced Engineering School has presented a “digital core” project for oil companies. NSU is the lead organization of a consortium that won a grant of 210 million rubles to develop digital core methods, an innovative tool that will help the Russian oil industry improve the efficiency of extracting hard-to-recover oil and gas reserves. The research will be conducted using the latest synchrotron, the Siberian Ring Photon Source (SKIF), located in the science city of Koltsovo.

    — The subject of digital core combines the most advanced methods of mathematical modeling, experimental research techniques and data processing. The unique capabilities of synchrotron radiation will allow us to close these areas, making it possible to instrumentally track the impact of various methods of increasing oil recovery on rock and choose the most optimal scenarios for developing hard-to-recover oil and gas reserves, — commented Sergey Golovin, Director of the Advanced Engineering School of NSU, Professor of the Russian Academy of Sciences.

    Dmitry Grigorenko highly praised the developments presented to him, while emphasizing that any remarkable results should not remain “a thing in itself,” and it is necessary to move on to their implementation in the real sector of the country’s economy as quickly as possible.

    — Such visits by representatives of the country’s leadership are very important for us. We get the opportunity to tell the top officials of the state about the results of our work, to understand from their reaction how relevant our developments are and, in case of a positive assessment, to receive support in implementation, which today is one of the most difficult barriers for most developers, — commented on the results of the visit the director of the NSU Center for Information Technologies Alexander Lyulko.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –