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Category: DJF

  • MIL-OSI Submissions: RNA has newly identified role: Repairing serious DNA damage to maintain the genome

    Source: The Conversation – USA – By Francesca Storici, Professor of Biological Sciences, Georgia Institute of Technology

    Double-strand breaks in DNA can be deadly. Victor Golmer/iStock via Getty Images Plus

    Your DNA is continually damaged by sources both inside and outside your body. One especially severe form of damage called a double-strand break involves the severing of both strands of the DNA double helix.

    Double-strand breaks are among the most difficult forms of DNA damage for cells to repair because they disrupt the continuity of DNA and leave no intact template to base new strands on. If misrepaired, these breaks can lead to other mutations that make the genome unstable and increase the risk of many diseases, including cancer, neurodegeneration and immunodeficiency.

    Cells primarily repair double-strand breaks by either rejoining the broken DNA ends or by using another DNA molecule as a template for repair. However, my team and I discovered that RNA, a type of genetic material best known for its role in making proteins, surprisingly plays a key role in facilitating the repair of these harmful breaks.

    These insights could not only pave the way for new treatment strategies for genetic disorders, cancer and neurodegenerative diseases, but also enhance gene-editing technologies.

    Sealing a knowledge gap in DNA repair

    I have spent the past two decades investigating the relationship between RNA and DNA in order to understand how cells maintain genome integrity and how these mechanisms could be harnessed for genetic engineering.

    A long-standing question in the field has been whether RNA in cells helps keep the genome stable beyond acting as a copy of DNA in the process of making proteins and a regulator of gene expression. Studying how RNA might do this has been especially difficult due to its similarity to DNA and how fast it degrades. It’s also technically challenging to tell whether the RNA is directly working to repair DNA or indirectly regulating the process. Traditional models and tools for studying DNA repair have for the most part focused on proteins and DNA, leaving RNA’s potential contributions largely unexplored.

    RNA plays a key role in protein synthesis.

    My team and I were curious about whether RNA might actively participate in fixing double-strand breaks as a first line of defense. To explore this, we used the gene-editing tool CRISPR-Cas9 to make breaks at specific spots in the DNA of human and yeast cells. We then analyzed how RNA influences various aspects of the repair process, including efficiency and outcomes.

    We found that RNA can actively guide the repair process of double-strand breaks. It does this by binding to broken DNA ends, helping align sequences of DNA on a matching strand that isn’t broken. It can also seal gaps or remove mismatched segments, further influencing whether and how the original sequence is restored.

    Additionally, we found that RNA aids in double-strand break repair in both yeast and human cells, suggesting that its role in DNA repair is evolutionary conserved across species. Notably, even low levels of RNA were sufficient to influence the efficiency and outcome of repair, pointing to its broad and previously unrecognized function in maintaining genome stability.

    RNA in control

    By uncovering RNA’s previously unknown function to repair DNA damage, our findings show how RNA may directly contribute to the stability and evolution of the genome. It’s not merely a passive messenger, but an active participant in genome maintenance.

    One type of RNA that has been effectively used in treatments is mRNA.
    Aldona/iStock via Getty Images Plus

    These insights could help researchers develop new ways to target the genomic instability that underlies many diseases, including cancer and neurodegeneration. Traditionally, treatments and gene-editing tools have focused almost exclusively on DNA or proteins. Our findings suggest that modifying RNA in different ways could also influence how cells respond to DNA damage. For example, researchers could design RNA-based therapies to enhance the repair of harmful breaks that could cause cancer, or selectively disrupt DNA break repair in cancer cells to help kill them.

    In addition, these findings could improve the precision of gene-editing technologies like CRISPR by accounting for interactions between RNA and DNA at the site of the cut. This could reduce off-target effects and increase editing precision, ultimately contributing to the development of safer and more effective gene therapies.

    There are still many unanswered questions about how RNA interacts with DNA in the repair process. The evolutionary role that RNA plays in maintaining genome stability is also unclear. But one thing is certain: RNA is no longer just a messenger, it is a molecule with a direct hand in DNA repair, rewriting what researchers know about how cells safeguard their genetic code.

    Francesca Storici consults at Tessera Therapeutics. She has received funding from the National Institutes of Health and the National Science Foundation.

    – ref. RNA has newly identified role: Repairing serious DNA damage to maintain the genome – https://theconversation.com/rna-has-newly-identified-role-repairing-serious-dna-damage-to-maintain-the-genome-256429

    MIL OSI –

    June 30, 2025
  • MIL-OSI Asia-Pac: HKSAR Government civil servants attend thematic seminar on Hong Kong National Security Law in Beijing (with photo)

    Source: Hong Kong Government special administrative region

         Today (June 30) marks the fifth anniversary of the promulgation and implementation of the Hong Kong National Security Law. Thirty-three senior civil servants of the Hong Kong Special Administrative Region (HKSAR) Government who are participating in a national studies programme organised by the Civil Service College (CSC) and Peking University in Beijing attended a thematic seminar to gain an in-depth understanding of the constitutional responsibility of the HKSAR to safeguard national sovereignty, security and development interests, and that civil servants must fulfil their role as guardians of national security. The seminar was delivered by Deputy Director of the Hong Kong Basic Law Committee and the Macao Basic Law Committee of the Standing Committee of the National People’s Congress and Deputy Director of the Legislative Affairs Commission of the Standing Committee of the National People’s Congress, Mr Zhang Yong. 

         The participants gained a lot from taking the opportunity to raise questions to Mr Zhang and attending the seminar which deepened their awareness of safeguarding national security proactively. 

         The Secretary for the Civil Service, Mrs Ingrid Yeung, said the Government had been stepping up efforts on all fronts to cultivate a sense of national identity, awareness of national security and patriotism among civil servants at all levels. In particular, the national studies programmes for middle and senior-level civil servants enable civil servants to gain an accurate understanding of the constitutional order of the HKSAR, national security and the latest policy objectives of the country through lectures in Mainland institutions and site visits.

         Since the implementation of the Hong Kong National Security Law and the enactment of the Safeguarding National Security Ordinance, the CSC has incorporated training on safeguarding national security into a series of programmes, including induction training for new recruits, Mainland programmes for middle and senior-level officers, thematic talks and e-learning. In addition to enhancing civil servants’ understanding of national security legal provisions, the CSC’s programmes also enable civil servants to understand the concept of a holistic approach to national security, to grasp the national security situation as well as the risks and challenges facing the country, and to raise civil servants’ awareness of safeguarding national security of their own accord and fulfilling their responsibility in national security.

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Rail link consultancy pact signed

    Source: Hong Kong Information Services

    The Highways Department today signed an investigation, design and construction consultancy agreement with the AtkinsRealis – AECOM Joint Venture for the Hong Kong section of the Hong Kong-Shenzhen Western Rail Link.

     

    The joint venture’s professional team comprises the Shanghai Municipal Engineering Design Institute (Group) Company from the Mainland, local financial consultant KPMG Advisory (Hong Kong), and professional members spanning various other disciplines.

     

    The department said it will work with the joint venture to take forward investigation and design work for the project at full steam.

     

    It aims to have the project ready for tendering in 2027, and to achieve completion of construction works in 2034.

     

    This will be followed by integrated testing and commissioning to realise the common goal of the Hong Kong Special Administrative Government and Shenzhen’s municipal government of commissioning the rail link in 2035.

     

    The 18.1-km link runs underground from Hung Shui Kiu to Qianhai, with the Hong Kong section taking up 7.3 km and the Shenzhen section running about 10.8 km long.

     

    It will comprise five stations – three in Hong Kong, at Hung Shui Kiu, Ha Tsuen and Lau Fau Shan; and two in Shenzhen, at Shenzhen Bay Port and Qianhaiwan.

     

    Hong Kong and Shenzhen have agreed to co-locate immigration and customs facilities in Shenzhen, while the depot will be at Ha Tsuen.

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Government invites proposals for operation of pilot scheme on sports dispute resolution

    Source: Hong Kong Government special administrative region

    Government invites proposals for operation of pilot scheme on sports dispute resolution 
    As announced in the Chief Executive’s 2024 Policy Address, the Government will explore establishing a sports dispute resolution system and promote sports arbitration, leveraging the institutional advantages of Hong Kong in dispute resolution. In this regard, the Government supports the industry in launching the pilot scheme in Hong Kong within 2025.
     
    The DoJ has prepared the invitation for proposals to identify a suitable administering body and a technology provider for the pilot scheme. The appointed dispute resolution institution will administer the pilot scheme and provide institutional support for the conduct of mediation and arbitration. To promote wider use of lawtech and online dispute resolution, the administering body shall partner with an online dispute resolution institution as a technology provider to provide the technological infrastructure and support required for the operation of the pilot scheme. Interested dispute resolution institutions and online dispute resolution institutions may submit joint proposals in this exercise.
     
    All joint proposals must be submitted along with all necessary information and supporting documents to the DoJ no later than 5pm on July 31, 2025, by e-mail (lead@doj.gov.hkIssued at HKT 16:28

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: 43rd batch of applications approved for trials of green transport technologies under New Energy Transport Fund

    Source: Hong Kong Government special administrative region

    43rd batch of applications approved for trials of green transport technologies under New Energy Transport Fund 
    The Steering Committee of the Fund has adopted a merit-based approach to assess applications for funding with a view to making the best use of the Fund and taking into account factors including the latest technology developments. One application has been approved in this batch (Note) for the trial of an electric heavy goods vehicle as an aircraft tractor, involving a total subsidy of $1.5 million.
     
    The latest approval brings the total number of trials approved under the Fund to 296, with a total subsidy of about $242 million. As at end-May 2025, a total of 239 approved trials under the Fund have been completed. Trial reports have been uploaded to the Fund’s website (www.eeb.gov.hk/en/new-energy-transport-fund/AT.html#Trial_Reports 
         As the technology of electric vehicles and batteries is becoming more mature, to allow the Fund to focus on subsidising new energy technologies with a more pressing need for trials in the local context in future, the Fund has only accepted applications for trials of new energy transport commercial tools other than electric commercial vehicles from April 1, 2025, with a view to expediting the green transformation of the transport trade.

         The Government put in place the Fund in March 2011 to subsidise the testing and encourage wider use of green transport technologies for a variety of commercial transport tools, such as goods vehicles (including special-purpose vehicles), taxis, light buses, buses, vessels, motorcycles, non-road vehicles (applicable to vehicle models approved by the Transport Department or the Airport Authority Hong Kong), or the aforesaid transport tools of charitable/non-profit making organisations providing services to their clients. The technologies to be subsidised include new energy vehicles or vessels, conversion of in-use conventional vehicles or vessels to new energy vehicles or vessels, and after-treatment emission reduction devices or fuel-saving devices applicable to vehicles and vessels. Transport operators and charitable/non-profit making organisations may apply for trying out different green technology products subject to a maximum subsidy of $10 million for each application and a total of $12 million for each applicant.
     
    For more information on the Fund and the approved applications, please visit the website of the Fund (

    www.eeb.gov.hk/en/new-energy-transport-fund/new-energy-transport-fund.html 
    Note: An electric heavy goods vehicle as an aircraft tractor by China Aircraft Services Limited.
    Issued at HKT 10:00

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: CAD reminds public of establishment of temporary restricted flying zones

    Source: Hong Kong Government special administrative region

    The Civil Aviation Department (CAD) today (June 30) reminded the public that temporary restricted flying zones (RFZs) will be established in the areas around East Lamma Channel, Western Anchorage, Victoria Harbour and Tathong Channel from July 3 to 7. All aircraft, including planes, helicopters and small unmanned aircraft (SUA), will be restricted from entering the areas concerned. Other flying activities will also be restricted within the temporary RFZs.

    “To facilitate arrangements for special operations, the CAD will establish temporary RFZs in the areas around East Lamma Channel, Western Anchorage, Victoria Harbour and Tathong Channel (see the respective areas indicated by red dotted lines in Annex I to IV) with effect during respective periods between July 3 and 7. No aircraft will be permitted to enter the zones, except for Government Flying Service flights.

         “Other flying activities, such as the flying of model aircraft, kites and captive balloons, and mass release of small balloons, will also be restricted within the temporary RFZs,” a spokesman for the CAD said.
    ​
    Airlines and pilots have been informed of the establishment of the temporary RFZs via the Notice to Airmen. The CAD has also announced the details of the temporary RFZs on the electronic portal for small unmanned aircraft “eSUA”.   

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Marine Department launches Green Maritime Fuel Bunkering Incentive Scheme to encourage relevant development

    Source: Hong Kong Government special administrative region

    Marine Department launches Green Maritime Fuel Bunkering Incentive Scheme to encourage relevant development 
         The International Maritime Organization (IMO) has set an ambitious target to reach net-zero carbon emissions from international shipping by or around 2025. Under the key policy drive of the IMO, the international maritime industry is now undergoing an irreversible green transformation, and the use of low- or even zero-carbon fuels is quickly gaining popularity. 
     
         To complement and encourage the green transformation of the shipping industry, the Government promulgated the Action Plan on Green Maritime Fuel Bunkering on November 15, 2024, setting out clear targets, five green-centric strategies and 10 actions to support the development of green maritime fuel bunkering and trading in Hong Kong. One of the actions proposed in the Action Plan is to set up a Green Maritime Fuel Bunkering Incentive Scheme, which serves to encourage pioneer companies to develop green maritime fuel bunkering business in Hong Kong. 
     
         Considering that certain investments in preparatory work, including risk assessments by companies, are required before carrying out green maritime fuel bunkering, and the pioneer companies will help kick-start the industry development by paving the way and accumulating invaluable experience, incentives will be granted to these companies. Under the current tranche of the Scheme, which targets liquefied natural gas (LNG) and green methanol, an incentive of $500,000 will be granted to each pioneer company for each of its first two LNG or green methanol bunkering operations completed within one year from the MD’s acceptance of its risk assessment. Pioneer companies that have already completed the relevant assessments and/or bunkering operations before the Scheme launch are also eligible to receive incentives under the Scheme. The maximum amount of incentive for each type of recognised green maritime fuel is $2,000,000, and incentives will be disbursed on a first-come, first-served basis. Details are set out in the Introduction of the Green Maritime Fuel Bunkering Incentive Scheme in the Annex.
     
         A spokesperson for the MD said, “Hong Kong, China, as an associate member of the IMO, has long been committed to supporting the IMO’s emission reduction target. At the same time, the development of green maritime fuel bunkering capabilities in Hong Kong will allow us to capitalise on the existing unique advantages of our port, including our location at the southernmost tip of China next to the international fairway, to maintain our positioning as a major bunkering port and international maritime centre. The Scheme will help encourage pioneer enterprises to start green maritime fuel bunkering businesses in Hong Kong early, as well as help level the playing field between pioneers and late joiners.”
     
         “The MD has established a dedicated team that provides one-stop services to companies interested in setting up green shipping-related businesses in Hong Kong. At the same time, we also provide clear guidelines and support to companies interested in conducting green maritime fuel bunkering operations in Hong Kong, to facilitate their smooth completion of the relevant assessments and pre-bunkering procedures,” the spokesperson continued.
     
         The application form of the Scheme has been uploaded onto the MD’s websiteIssued at HKT 15:00

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: HyD signs investigation, design and construction consultancy agreement for Hong Kong section of Hong Kong-Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai) (with photo)

    Source: Hong Kong Government special administrative region

    HyD signs investigation, design and construction consultancy agreement for Hong Kong section of Hong Kong-Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai) (with photo) 
    ​     A spokesman for the HyD said, “Construction of the HSWRL is a crucial initiative in support of thorough implementation of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). It enhances the infrastructure connectivity in the GBA and facilitates Hong Kong’s better integration into national development. The HSWRL will connect the metro networks in the western regions of Hong Kong and Shenzhen. A trip from Hung Shui Kiu to Qianhai will only take approximately 15 minutes, which will help to foster the ‘one-hour living circle’ in the GBA and facilitate convenient cross-boundary commerce, work, living, study and travelling activities of the residents of the two places. The HSWRL is also an important transport infrastructure promoting the development of the Northern Metropolis, catering to the local travelling demand in the Hung Shui Kiu/Ha Tsuen New Development Area as well as Lau Fau Shan, Tsim Bei Tsui and Pak Nai areas. We aim to have the project ready for tendering in 2027, so that the detailed design and construction works can commence promptly, striving to achieve completion of construction works in 2034, followed by integrated testing and commissioning to realise the common goal of the governments of Hong Kong and Shenzhen to commission the HSWRL in 2035.”
     
    ​     The HSWRL is approximately 18.1 kilometres long (with the Hong Kong section and the Shenzhen section being about 7.3 km long and 10.8 km long respectively). The alignment will start from the west of Hung Shui Kiu Station under construction on the Tuen Ma Line, passing through Ha Tsuen and Lau Fau Shan, crossing Deep Bay and connecting to Qianhai via Shenzhen Bay Port. It is an underground railway line comprising a total of five stations, with three stations in Hong Kong (located in Hung Shui Kiu, Ha Tsuen and Lau Fau Shan respectively) and two stations in Shenzhen (located in Shenzhen Bay Port and Qianhaiwan respectively). Hong Kong and Shenzhen have agreed to establish the co-location of the immigration and customs facilities in Shenzhen and the depot will be located at Ha Tsuen.
     
    ​     The project provides opportunities for Hong Kong and Shenzhen to draw on each other’s strengths and experiences in taking forward railway projects, so as to further enhance the efficiency and quality of railway development and strive for excellence. The HyD endeavours to explore ways to combine Hong Kong’s flexibility and versatility with the Mainland’s strengths in infrastructure development. Through “dual-innovation” in policy and technology, the HyD will explore different implementation approaches with the goal to reduce construction cost and compress construction time.
    Issued at HKT 15:58

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area to visit Portugal to promote development opportunities in GBA

    Source: Hong Kong Government special administrative region

    Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area to visit Portugal to promote development opportunities in GBA 
         On July 3, Ms Chan will attend a business luncheon titled “Unlocking New Horizons: Affordable Housing and Opportunities in Hong Kong and the Greater Bay Area”, co-organised by the Guangdong-Hong Kong-Macao Greater Bay Area Development Office and the Hong Kong Economic and Trade Office in Brussels. She will deliver a keynote speech to promote the enormous business opportunities brought about by the GBA to the Portuguese business community and how Hong Kong can play its important function as a “super-connector” and “super value-adder” between the two places.
     
         During her stay in Lisbon, Ms Chan will call on the Chinese Embassy in the Portuguese Republic to learn about the latest developments in Portugal and Sino-Portuguese culture, and will also attend the International Forum on Urbanism there.
     
         Ms Chan will return to Hong Kong on July 4.
    Issued at HKT 14:29

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Seventh batch of Arts Development Fund for Persons with Disabilities open for applications today

    Source: Hong Kong Government special administrative region

    Seventh batch of Arts Development Fund for Persons with Disabilities open for applications today 
         The Government has endeavoured to promote the participation of PWDs in recreational, sports and cultural arts activities and provide them with appropriate activities and facilities. This aims to create opportunities for PWDs to develop their potential, enhance their quality of life and encourage their participation in group activities, promoting their full integration into the community.
     
         The Arts Fund provides funding support for two tiers of arts projects. Tier One projects focus on providing elementary and ongoing arts programmes that enhance the arts knowledge of PWDs, foster their interest in the arts, and develop their potential. Tier Two projects are large-scale, impactful and sustainable projects which assist individual PWDs with significant artistic potential in pursuing careers in performing, visual or creative arts, enabling them to strive for excellence.
     
         The seventh batch of the Arts Fund is open for applications starting today until September 1. Interested organisations may visit the SWD website (www.swd.gov.hk/en/pubsvc/rehab/cat_fundtrustfinaid/adfpdIssued at HKT 11:00

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Government’s financial results for two months ended May 31, 2025

    Source: Hong Kong Government special administrative region

         The Government announced today (June 30) its financial results for the two months ended May 31, 2025.

         Expenditure and revenue from April to May 2025 amounted to HK$129.7 billion and HK$55.9 billion respectively, resulting in a deficit of HK$78.4 billion after taking into account HK$15.5 billion received from issuance of Government Bonds and repayment of HK$20.1 billion principal on Government Bonds.

         A Government spokesperson said that the deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes, are mostly received towards the end of a financial year.

         The fiscal reserves stood at HK$575.9 billion as at May 31, 2025.

         Detailed figures are shown in Tables 1 and 2.

    TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
     

      Month ended
    May 31, 2025
    HK$ million
    Two months ended
    May 31, 2025
    HK$ million
    Revenue 17,448.6 55,906.5
    Expenditure (66,328.1) (129,774.6)
         
    Deficit before issuance
    and repayment of
    Government Bonds
    (48,879.5) (73,868.1)
         
    Proceeds received from
    issuance of
    Government Bonds
    9,435.9 15,534.8
         
    Repayment of
    Government Bonds*
    (20,070.1) (20,120.5)
         
    Deficit after issuance
    and repayment of
    Government Bonds
    (59,513.7) (78,453.8)
         
    Financing    
    Domestic    
         Banking Sector (Note 2) 59,210.2 75,933.7
         Non-Banking Sector 303.5 2,520.1
    External – –
           
    Total 59,513.7 78,453.8
    * Being repayment of principal on Government Bonds and does not include the associated interest and other expenses.

    Government Debts as at May 31, 2025 (Note 3)
        HK$298,332 million
    Debts Guaranteed by Government as at May 31, 2025 (Note 4)
        HK$123,199 million

    TABLE 2. FISCAL RESERVES
     

     
     
    Month ended
    May 31, 2025
    HK$ million
    Two months ended
    May 31, 2025
    HK$ million
    Fiscal Reserves at start of period 635,376.7 654,316.8
    Consolidated Deficit after
    issuance and repayment of
    Government Bonds
    (59,513.7) (78,453.8)
         
    Fiscal Reserves at end of period
    (Note 5)
    575,863.0 575,863.0

    Notes:

    1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at May 31, 2025, was HK$216,896 million.

    2. Includes transactions with the Exchange Fund and resident banks.

    3. The Government Debts, with proceeds credited to the Capital Works Reserve Fund, comprise:

    (i) the Green Bonds (equivalent to HK$177,761 million as at May 31, 2025) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,950 million with maturity from January 2026 to January 2053), euros (4,580 million euros with maturity from February 2026 to November 2041), Renminbi (RMB34,000 million with maturity from June 2025 to July 2054) and Hong Kong dollars (HK$22,000 million with maturity from February 2026 to October 2026);

    (ii) the Infrastructure Bonds (equivalent to HK$65,900 million as at May 31, 2025) issued under the Infrastructure Bond Programme. They were denominated in Renminbi (RMB19,000 million with maturity from December 2025 to May 2035) and Hong Kong dollars (HK$45,230 million with maturity from November 2025 to March 2045); and

    (iii) the Silver Bonds with nominal value of HK$54,671 million (with maturity in October 2027 and may be redeemed before maturity upon request from bond holders) issued under the Infrastructure Bond Programme.

         They do not include the outstanding bonds with nominal value of HK$168,090 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,841 million as at May 31, 2025) issued under the Government Bond Programme with proceeds credited to the Bond Fund. Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$96,090 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$66,959 million will mature within the period from June 2025 to May 2026 and the rest within the period from June 2026 to May 2042.

    4. Includes guarantees provided under the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the SME Financing Guarantee Scheme launched in 2012, and the Loan Guarantee Scheme for Cross-boundary Passenger Transport Trade, the Loan Guarantee Scheme for Battery Electric Taxis and the Loan Guarantee Scheme for Travel Sector launched in 2023.

    5. Includes HK$250,041 million, being the balance of the Land Fund held in the name of “Future Fund”, for long-term investments up to December 31, 2030. The Future Fund also includes HK$4,800 million, being one-third of the actual surplus in 2015-16 as top-up.

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Appointments to Industry Advisory Committee on General Business of Insurance Authority

    Source: Hong Kong Government special administrative region

    The Government announced today (June 30) the appointments of Mr Jacky Lio Veng-hei and Professor Hui Kai-lung as non-official members of the Industry Advisory Committee (IAC) on General Business (GB) of the Insurance Authority for a term of two years from July 1, 2025, to June 30, 2027. 
     
    Welcoming the appointments, a spokesman for the Financial Services and the Treasury Bureau said, “With their rich professional knowledge, we believe Mr Lio and Professor Hui will tender insightful advice to the IAC and facilitate the growth of the insurance industry.
     
         “We would like to express our sincere gratitude to the two outgoing members, Dr Fung Hong and Professor Tang Heiwai, for their unwavering support and valuable contributions to the IAC during their tenure.”
     
    The IAC on GB is a statutory committee established under the Insurance Ordinance (Cap. 41) to advise the Insurance Authority on matters relating to general business. Members come from different lines of business with expertise within the insurance industry, as well as from related fields such as fintech, medical, legal and academia.

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: 2025 edition of “Hong Kong as an Information Society” now available

    Source: Hong Kong Government special administrative region

    2025 edition of “Hong Kong as an Information Society” now available 
    This publication presents statistics compiled from a variety of data sources relevant to the development of an information society in Hong Kong, including the recent developments in information and communication technology services, the external trade of information and communication technology goods and services, and the use and penetration of information technology in the business, household and government sectors. Analyses of the demand for manpower in the information technology field and development of relevant educational programmes are also provided.
     
    Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1110006&scode=590Issued at HKT 16:30

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: HA appeals to public for two patients requiring urgent liver transplants

    Source: Hong Kong Government special administrative region

    HA appeals to public for two patients requiring urgent liver transplants 
         The spokesperson for the Hospital Authority (HA) today (June 30) made the following appeal regarding two patients whose condition requires urgent liver transplants:
     
         Two patients who require urgent liver transplants are currently hospitalised at Queen Mary Hospital and are in critical condition. One of the patients has been experiencing severe hepatic and renal failure, entering the state of hepatic coma. He has developed hepatorenal syndrome and severe complications due to hepatic encephalopathy. The patient is currently in the Adult Intensive Care Unit due to his critical condition. He is intubated and requires mechanical ventilation to maintain life. The other patient has been experiencing severe liver failure and severe damage to his kidney function. He has developed severe complications due to hepatorenal syndrome. Both patients are clinically assessed as requiring urgent liver transplants and are listed at the top of the liver transplant waiting list, according to the blood groups.
     
         In response to the urgent appeal from the patients’ families, the HA appeals to members of the public to proactively support organ donation and consider donating the organ of a deceased relative to rekindle the lives of others.
        
         In view of the critical condition of the patients, in addition to proactively searching for suitable livers locally, the HA will also seek assistance from the Mainland through the Hong Kong Special Administrative Region Government as soon as possible. When a patient who is willing to donate an organ passes away and no suitable patient is identified to receive the organ on the Mainland, the cross-boundary organ donation and matching mechanism will facilitate a transplant in Hong Kong to bring hope to a critically ill patient.
        
         The spokesperson emphasised that when a suitable liver is found, the HA will strictly follow the relevant organ transplant regulations and make an application with the authorities to ensure that all procedures comply with relevant standards and regulatory requirements. The HA will arrange transplant operations that aim to save the patient’s life as soon as possible.
     
         For critically ill patients with organ failure, an organ transplant is often the only hope to extend their lives. When the families of deceased patients show a selfless act of love and donate the deceased person’s organs to save dying patients, it not only gives critically ill patients the hope of life, but also eases the hardship of their families. The HA appeals to the public to pass on their great love, blessing and care to those who are still fighting for their well-deserved lives. 
    Issued at HKT 15:56

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Ensuring high-quality development with high-level security: Hong Kong National Security Law heralds fifth anniversary

    Source: Hong Kong Government special administrative region

    Ensuring high-quality development with high-level security: Hong Kong National Security Law heralds fifth anniversary 
    The spokesman said, “National security is a top priority as it forms the basis for a country’s existence and development. After reunification, Hong Kong had long been ‘undefended’ in terms of safeguarding national security. Anti-China elements and external forces continuously challenged the bottom line of the principle of ‘one country, two systems’, and even attempted to seize the power of governance. Unprecedented crises have been brought to Hong Kong by the ‘anti-national education’ incident in 2012, the illegal ‘Occupy Central’ movement in 2014, the Mong Kok riot in 2016, the ‘black-clad violence’ and Hong Kong version of the ‘colour revolution’ which lasted for more than ten months since June 2019, severely damaging Hong Kong’s societal, economic and business environment and caused the public to live in fear.”
     
          “The Central Authorities acted decisively at a critical moment for Hong Kong. On May 28, 2020, the National People’s Congress (NPC) made a relevant decision on the basis of which, the NPC Standing Committee enacted, on June 30, 2020, the HKNSL which was then listed under Annex III to the Basic Law for local promulgation and implementation in the HKSAR. The HKNSL has addressed the shortcomings and plugged the loopholes in the legal system and enforcement mechanisms for safeguarding national security of the HKSAR, playing the role of a stabilising force that immediately stopped violence and curbed disorder. The implementation of HKNSL was a ‘watershed moment’ in Hong Kong’s transition from chaos to order, as stability and safety of the city have been restored by the law.”
     
          “Thereafter, with the concerted efforts of the HKSAR Government, the Legislative Council and all sectors of the community, the HKSAR fulfilled its constitutional duty last year by completing the legislation of Article 23 of the Basic Law. The Safeguarding National Security Ordinance (SNSO) took effect upon gazettal on March 23, 2024, improving the legal system and enforcement mechanisms of the HKSAR for safeguarding national security. The HKNSL and the SNSO are compatible and complementary, building a strong line of defence to safeguard national security in Hong Kong.”
     
    The spokesman emphasised, “The implementation of the HKNSL over the past five years has proven the law to be a ‘guardian’ in upholding the principle of ‘one country, two systems’ and in safeguarding the prosperity and stability of Hong Kong. It is an important and timely piece of legislation with profound historical significance. The HKNSL and other laws in safeguarding national security in the HKSAR firmly adhere to the principle of the rule of law while protecting the rights and freedoms in accordance with the law. At present, the business environment has continuously improved. Hong Kong ranks first as the world’s freest economy and third among global financial centres, and has returned to the top three in the world in terms of competitiveness, demonstrating that Hong Kong is moving full steam ahead along the path of ‘advancing from stability to prosperity’.”
     
          “The laws for safeguarding national security in the HKSAR protect human rights. The principles of respecting and protecting human rights, as clearly and comprehensively set out, are embodied in the provisions of the HKNSL and the SNSO as well as in the manner in which they are implemented. Both Article 4 of the HKNSL and section 2 of the SNSO clearly stipulate that human rights shall be respected and protected in safeguarding national security in the HKSAR, and that the rights and freedoms, including the freedoms of speech, of the press, of publication, of association, of assembly, of procession and of demonstration, that Hong Kong residents enjoy under the Basic Law and the provisions of the International Covenant on Civil and Political Rights (ICCPR) and the International Covenant on Economic, Social and Cultural Rights as applied to Hong Kong, shall be protected in accordance with the law. The various provisions of the laws for safeguarding national security in the HKSAR are in line with international standards, striking a reasonable balance between safeguarding national security and protection of fundamental rights and freedoms.”
     
          “In fact, the HKSAR has a solid, resilient foundation of the rule of law that is well-recognised by the international community. The law enforcement agencies of the HKSAR have been strictly taking law enforcement actions based on evidence and in accordance with the law. The Department of Justice of the HKSAR, by virtue of Article 63 of the Basic Law, controls criminal prosecutions, free from any interference. Independent prosecutorial decisions for each case are made in a rigorous and objective manner, strictly based on evidence and applicable laws and are in accordance with the Prosecution Code. Articles 2, 19 and 85 of the Basic Law specifically provide that the HKSAR enjoys independent judicial power, including that of final adjudication, and the courts of the HKSAR shall exercise judicial power independently, free from any interference. Cases will never be handled any differently owing to the occupation, political stance or background of the persons involved. In addition, Article 5 of the HKNSL and section 2 of the SNSO clearly stipulate that the principle of the rule of law shall be adhered to in preventing, suppressing and imposing punishment for offences endangering national security, including the principles of conviction and punishment only by the application of the law, the presumption of innocence, the prohibition of double jeopardy, and the right to defend oneself and other rights in judicial proceedings that a criminal suspect, defendant and other parties in judicial proceedings are entitled to under the law.”
     
          “It is each and every sovereign state’s inherent right to enact laws safeguarding national security, and it is also an international practice. The HKNSL and the SNSO clearly define the elements and penalties of the related offences endangering national security, precisely targeting an extremely small minority of people and organisations committing in acts and activities that endanger national security, while protecting the lives and property of the general public. Law abiding persons will not engage in acts and activities that endanger national security and will not unwittingly violate the law, and therefore have no reason to be concerned. As a matter of fact, since the promulgation and implementation of the HKNSL, stability has been quickly restored in society. With the SNSO in effect, the rights and freedoms of the HKSAR residents and of other persons in Hong Kong are even better protected while the economy of Hong Kong is picking up.”
     
    The spokesman reiterated, “Safeguarding national security is an ongoing and endless commitment. As mentioned in the ‘White Paper on China’s National Security in the New Era’ published by the Central Authorities on May 12, 2025, external forces have meddled more in China’s affairs, with an attempt to blockade, suppress and contain China through the so-called ‘Hong Kong issues’. Today, as geopolitical risks continue to escalate, the HKSAR Government will strive steadfastly to safeguard national sovereignty, security and development interests, and improve the relevant legal system and enforcement mechanisms under the robust protection of the HKNSL and the SNSO, so as to address the evolving national security risks and challenges more effectively. We will also ramp up our efforts in publicity and education to arouse public awareness in safeguarding national security, thereby forming a societal shield to fend off external intervention, ensuring high-quality development with high-level security, continuously composing a new chapter in the practice of ‘one country, two systems’.”
     
    Issued at HKT 10:30

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Process Review Panel for the Mandatory Provident Fund Schemes Authority publishes 2024 Annual Report

    Source: Hong Kong Government special administrative region

         The Process Review Panel for the Mandatory Provident Fund Schemes Authority (PRP) published its 2024 Annual Report today (June 30), covering its work from May 1, 2023, to April 30, 2024.
      
         The PRP Chairman, Mr Eugene Fung, SC, said, “Out of 6 557 cases closed or discontinued from May 1, 2023, to April 30, 2024, the PRP selected 29 cases for detailed review covering the core regulatory activities of the Mandatory Provident Fund Schemes Authority (MPFA). The PRP is delighted to note the considerable efforts made by the MPFA to enhance the consistency and transparency in its enforcement actions, and has identified room for continuous improvement in this regard. On this front, we have made various recommendations with a view to further promoting public confidence in the MPF System.”
     
         He added, “Taking this opportunity, we would like to thank the outgoing members, Mr Allen Lau Kai-hung and Ms Grace Yu Ho-wun, for their valuable and constructive advice to the PRP during their six-year tenure.”
      
         The 2024 Annual Report has been uploaded to the website of the Financial Services and the Treasury Bureau at www.fstb.gov.hk/fsb/en/business/prp/doc/prp_mpfa_2024_e.pdf.
     
         The PRP welcomes views from the public and market participants on its work. Comments may be sent to the PRP via email at prpmpf@fstb.gov.hk.

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: New requirement for application for or revalidation of local certificates of competency fully implemented today

    Source: Hong Kong Government special administrative region

    New requirement for application for or revalidation of local certificates of competency fully implemented today 
         The Merchant Shipping (Local Vessels) (Certification and Licensing) Regulation (Cap. 548D) stipulates that all local vessel operators must hold a valid local CoC.
     
         To enhance marine safety, the MD has revised the eligibility criteria for applying for or revalidating local CoCs by introducing a medical fitness certificate requirement to ensure that holders of local CoCs are physically fit to operate vessels. The medical fitness requirement involves two categories of persons: Category I covers all applicants for the initial issuance or revalidation of any grade of local CoCs; Category II only covers coxswains and engine operators in charge of passenger vessels (i.e. Class I vessels) and vessels carrying gases, noxious liquid substances, oil, etc (i.e. Class II vessels with designated types) (collectively referred to as “high-risk vessels”).
     
         All applicants for issuance and revalidation of local CoCs are required to submit to the MD a medical fitness certificate issued by a registered medical practitioner recognised by the MD together with the application form. Once issued, a local CoC will remain valid until the holder reaches the age of 65. Holders of local CoCs who wish to revalidate their CoCs after reaching the age of 65 will have to undergo and pass a medical assessment every three years. After reaching the age of 71, a holder must pass a medical assessment every year in order to revalidate the CoC.
     
         Considering the relatively higher marine safety risks associated with operating high-risk vessels, all coxswains and engine operators of high-risk vessels are required to undergo a medical assessment every five years to ensure that they are physically fit to operate the relevant vessels. Operators of high-risk vessels must submit a copy of the medical fitness certificate to the MD for record after obtaining the certificate. This requirement will be implemented by the MD through adding a new licensing condition to the Operating Licences of relevant high-risk vessels.
     
         The MD has already conducted extensive consultations with the industry regarding the new arrangements and detailed requirements, and has received support from various stakeholders, including the Legislative Council Panel on Economic Development, the Local Vessels Advisory Committee, trade associations, trade unions, and fishermen’s associations. The MD will continue to promote the new requirements to local CoC holders through various means.
     
         For details about the latest requirements for application for or revalidation of local CoC, including the list of recognised medical practitioners, the medical assessment form, the examination rules for local CoCs and the relevant MD Notice, please visit the MD’s websiteIssued at HKT 15:05

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Asia-Pac: Secretary for Housing to visit Portugal and Spain

    Source: Hong Kong Government special administrative region

         The Secretary for Housing, Ms Winnie Ho, will depart for a visit to Lisbon, Portugal, tomorrow night (July 1). She will attend the International Forum on Urbanism on July 2 and speak at the forum on the various housing initiatives implemented by the Housing Bureau and the Hong Kong Housing Authority in recent years to enhance people’s livelihoods, encourage upward mobility, and promote innovative construction technologies, as well as the “Well-being design” guide launched last year.
     
         During her stay in Lisbon, she will meet with relevant local officials. She will also officiate at a business luncheon co-organised by the Guangdong-Hong Kong-Macao Greater Bay Area Development Office under the Constitutional and Mainland Affairs Bureau and the Hong Kong Economic and Trade Office in Brussels, to share Hong Kong’s experiences in enhancing the quantity, speed, efficiency and quality of public housing construction by embracing various innovative rapid construction technologies and construction robotics, and continuously enhancing smart public estate management to build a more pleasant living environment for its residents. She also invited over 20 construction trade representatives from Hong Kong and the Mainland, including construction companies and consultant companies participating in the construction of public housing, Light Public Housing and transitional housing, to attend the luncheon. They will share in person with the participants Hong Kong’s experience in applying and promoting innovative construction technologies, such as Modular Integrated Construction (MiC), Multi-trade integrated Mechanical, Electrical and Plumbing (MiMEP) and construction robots, and take this opportunity to strengthen connections between the Hong Kong and Portuguese trades and explore opportunities. Ms Ho will also call on the Embassy of the People’s Republic of China in the Portuguese Republic.
     
         Ms Ho will depart for Barcelona, Spain, on the evening of July 3 (Lisbon time) to visit local social housing projects, meet with relevant government officials to learn about housing issues there and their policies implemented, and promote Hong Kong’s housing ladder that encourages upward mobility, as well as the application of innovative construction technologies in Hong Kong’s public housing developments and management, the concepts of the “Well-being design” guide, and more.
     
         Ms Ho will return to Hong Kong on the morning of July 6. During her absence, the Under Secretary for Housing, Mr Victor Tai, will be the Acting Secretary for Housing.

    MIL OSI Asia Pacific News –

    June 30, 2025
  • MIL-OSI Europe: The EBA provides its technical advice to the European Commission on fees to validate pro forma models under the European Market Infrastructure Regulation

    Source: European Banking Authority

    The European Banking Authority (EBA) today published its response to the European Commission’s Call for Advice on fees to validate pro forma models under the European Market Infrastructure Regulation (EMIR).

    The Technical Advice makes a series of recommendations to the Commission in view of its Delegated Acton fees to be charged by the EBA for the performance of its new role as central validator of pro forma models, such as ISDA SIMM, under EMIR.

    First, the EBA proposes that the Delegated Act allows for all costs – whether direct or indirect – relating to the activities linked to the central validation function of pro forma models to be covered.

    Second, to address the feedback received on the difficulties in calculating the 12-month average notional amount of non-centrally cleared OTC derivatives, the EBA proposes to rely on simpler approaches than the ones consulted upon. To this end, the EBA makes proposals on the practical details of the calculation methodology that would ensure proportionality amongst all counterparties in the determination of the annual fee.

    Finally, the EBA makes recommendations on the payment modalities and the information to be communicated to EBA for the determination of the individual fees and the invoicing process.

    Legal basis

    Article 11(12a) of EMIR mandates the EBA to set up a central validation function for the elements and general aspects of pro forma models, and changes thereto, used or to be used by financial and non-financial counterparties. The EBA shall charge an annual fee, per pro forma model, to financial and non-financial counterparties using the pro forma models validated by the EBA. The fees are expected to cover the costs incurred by the EBA in performing this role as central validator.

    Pro forma models, such as ISDA SIMM, are used by the industry to calculate initial margin.

    On 31 July 2024, the EBA received a Call for advice on a possible Delegated Act on fees with the request to submit its response by Q2 2025.

    In March 2025, the EBA consulted market participants as part of its response. The feedback received to this Discussion Paper helped the EBA finalise its response to the European Commission.

    MIL OSI Europe News –

    June 30, 2025
  • MIL-OSI Europe: The EBA provides its technical advice to the European Commission on fees to validate pro forma models under the European Market Infrastructure Regulation

    Source: European Banking Authority

    The European Banking Authority (EBA) today published its response to the European Commission’s Call for Advice on fees to validate pro forma models under the European Market Infrastructure Regulation (EMIR).

    The Technical Advice makes a series of recommendations to the Commission in view of its Delegated Acton fees to be charged by the EBA for the performance of its new role as central validator of pro forma models, such as ISDA SIMM, under EMIR.

    First, the EBA proposes that the Delegated Act allows for all costs – whether direct or indirect – relating to the activities linked to the central validation function of pro forma models to be covered.

    Second, to address the feedback received on the difficulties in calculating the 12-month average notional amount of non-centrally cleared OTC derivatives, the EBA proposes to rely on simpler approaches than the ones consulted upon. To this end, the EBA makes proposals on the practical details of the calculation methodology that would ensure proportionality amongst all counterparties in the determination of the annual fee.

    Finally, the EBA makes recommendations on the payment modalities and the information to be communicated to EBA for the determination of the individual fees and the invoicing process.

    Legal basis

    Article 11(12a) of EMIR mandates the EBA to set up a central validation function for the elements and general aspects of pro forma models, and changes thereto, used or to be used by financial and non-financial counterparties. The EBA shall charge an annual fee, per pro forma model, to financial and non-financial counterparties using the pro forma models validated by the EBA. The fees are expected to cover the costs incurred by the EBA in performing this role as central validator.

    Pro forma models, such as ISDA SIMM, are used by the industry to calculate initial margin.

    On 31 July 2024, the EBA received a Call for advice on a possible Delegated Act on fees with the request to submit its response by Q2 2025.

    In March 2025, the EBA consulted market participants as part of its response. The feedback received to this Discussion Paper helped the EBA finalise its response to the European Commission.

    MIL OSI Europe News –

    June 30, 2025
  • MIL-OSI Europe: ECB’s Governing Council updates its monetary policy strategy

    Source: European Central Bank

    30 June 2025

    • Governing Council confirms symmetric 2% inflation target over the medium term
    • Symmetry requires appropriately forceful or persistent policy response to large, sustained deviations of inflation from target in either direction
    • All tools remain in toolkit and their choice, design and implementation will enable an agile response to new shocks
    • Structural shifts such as geopolitical and economic fragmentation and increasing use of artificial intelligence make the inflation environment more uncertain

    The Governing Council of the European Central Bank (ECB) today published the results of its strategy assessment, which are set out in an updated monetary policy strategy statement.

    Following the strategy review carried out in 2020-21, the Governing Council announced that it would periodically assess the appropriateness of its monetary policy strategy. The assessment published today meets this commitment, ensuring that our framework, toolkit and approach remain fit for purpose.

    The monetary policy strategy enables the Governing Council to respond effectively to major changes in the inflation environment. This is especially important as ongoing structural shifts, such as geopolitical and economic fragmentation, increasing use of artificial intelligence, demographic change and the threat to environmental sustainability, suggest that the inflation environment will remain uncertain and potentially more volatile, with larger deviations from the symmetric 2% inflation target.

    To maintain the symmetry of the target, appropriately forceful or persistent monetary policy action in response to large, sustained deviations of inflation from the target in either direction is important. This will help to avoid inflation expectations becoming de-anchored and inflation deviations from the target becoming entrenched.

    “I am happy to announce that the Governing Council during its latest meeting approved the ECB’s updated monetary policy strategy”, said ECB President Christine Lagarde. “This assessment was a valuable opportunity to challenge our thinking, check our policy toolkit and fine-tune our strategy. It provides us with an even stronger basis to conduct monetary policy and fulfil our mandate of price stability in an increasingly uncertain environment.”

    All monetary policy tools currently available to the Governing Council will remain in its toolkit. Their use at any time will continue to be subject to a comprehensive proportionality assessment. Their choice, design and implementation will be sufficiently flexible to enable an agile response to changes in the inflation environment.

    In monetary policy decisions the Governing Council takes into account not only the most likely path for inflation and the economy but also surrounding risks and uncertainty, including through the appropriate use of scenarios and sensitivity analyses.

    The first regular monetary policy meeting of the Governing Council applying the updated strategy will be held on 23-24 July 2025. The Governing Council intends to assess periodically the appropriateness of its monetary policy strategy, with the next assessment expected in 2030.

    For media queries, please contact Stefan Ruhkamp, tel.: +49 69 1344 5057.

    Notes

    • Prior to the 2025 strategy assessment, the Governing Council concluded strategy reviews in 2003 and 2021.
    • Over the last 12 months the Governing Council has held seminars, presentations, discussions and meetings dedicated to the strategy assessment.
    • The strategy assessment is the result of a significant collaborative effort over this period. It involved staff of the ECB and national central banks across the euro area and was organised into two separate workstreams.

    MIL OSI Europe News –

    June 30, 2025
  • MIL-OSI Europe: ECB’s Governing Council updates its monetary policy strategy

    Source: European Central Bank

    30 June 2025

    • Governing Council confirms symmetric 2% inflation target over the medium term
    • Symmetry requires appropriately forceful or persistent policy response to large, sustained deviations of inflation from target in either direction
    • All tools remain in toolkit and their choice, design and implementation will enable an agile response to new shocks
    • Structural shifts such as geopolitical and economic fragmentation and increasing use of artificial intelligence make the inflation environment more uncertain

    The Governing Council of the European Central Bank (ECB) today published the results of its strategy assessment, which are set out in an updated monetary policy strategy statement.

    Following the strategy review carried out in 2020-21, the Governing Council announced that it would periodically assess the appropriateness of its monetary policy strategy. The assessment published today meets this commitment, ensuring that our framework, toolkit and approach remain fit for purpose.

    The monetary policy strategy enables the Governing Council to respond effectively to major changes in the inflation environment. This is especially important as ongoing structural shifts, such as geopolitical and economic fragmentation, increasing use of artificial intelligence, demographic change and the threat to environmental sustainability, suggest that the inflation environment will remain uncertain and potentially more volatile, with larger deviations from the symmetric 2% inflation target.

    To maintain the symmetry of the target, appropriately forceful or persistent monetary policy action in response to large, sustained deviations of inflation from the target in either direction is important. This will help to avoid inflation expectations becoming de-anchored and inflation deviations from the target becoming entrenched.

    “I am happy to announce that the Governing Council during its latest meeting approved the ECB’s updated monetary policy strategy”, said ECB President Christine Lagarde. “This assessment was a valuable opportunity to challenge our thinking, check our policy toolkit and fine-tune our strategy. It provides us with an even stronger basis to conduct monetary policy and fulfil our mandate of price stability in an increasingly uncertain environment.”

    All monetary policy tools currently available to the Governing Council will remain in its toolkit. Their use at any time will continue to be subject to a comprehensive proportionality assessment. Their choice, design and implementation will be sufficiently flexible to enable an agile response to changes in the inflation environment.

    In monetary policy decisions the Governing Council takes into account not only the most likely path for inflation and the economy but also surrounding risks and uncertainty, including through the appropriate use of scenarios and sensitivity analyses.

    The first regular monetary policy meeting of the Governing Council applying the updated strategy will be held on 23-24 July 2025. The Governing Council intends to assess periodically the appropriateness of its monetary policy strategy, with the next assessment expected in 2030.

    For media queries, please contact Stefan Ruhkamp, tel.: +49 69 1344 5057.

    Notes

    • Prior to the 2025 strategy assessment, the Governing Council concluded strategy reviews in 2003 and 2021.
    • Over the last 12 months the Governing Council has held seminars, presentations, discussions and meetings dedicated to the strategy assessment.
    • The strategy assessment is the result of a significant collaborative effort over this period. It involved staff of the ECB and national central banks across the euro area and was organised into two separate workstreams.

    MIL OSI Europe News –

    June 30, 2025
  • MIL-OSI Europe: NRRP steering committee meeting held at Palazzo Chigi to verify milestones and targets for eighth instalment

    Source: Government of Italy (English)

    A steering committee meeting for the National Recovery and Resilience Plan (NRRP) was held at Palazzo Chigi today, called and chaired by the Minister for European Affairs, the NRRP and Cohesion Policy, Tommaso Foti. The purpose of the meeting, attended by the Ministers and Undersecretaries in charge as well as by representatives from ANCI [National Association of Italian Municipalities], UPI [Union of Italian Provinces] and the Conference of Regions and Autonomous Provinces, was to verify progress of the 40 objectives linked to the payment request for the eighth instalment of Italy’s NRRP, worth EUR 12.8 billion. 

    Following a detailed review, the steering committee acknowledged the implementation status of the 12 milestones and 28 targets required for the eighth instalment, which include reforms and investments that are strategic for the nation’s growth, involving 13 administrations.

    The most significant measures include: digitalisation of the Guardia di Finanza [Italian Finance Police], with innovative IT systems to fight economic crime; more than 1,000 language and methodology courses for school teachers; the launch of projects to update school curricula in over 8,000 schools and guide students towards STEM skills; completion of culture and tourism enhancement projects by supporting approximately 2,000 small and medium-sized enterprises; redevelopment of around 50 historical parks and gardens.

    Regarding the eighth instalment, implementation of measures was also verified linked to: 1,400km of rail infrastructure being equipped with the European Rail Traffic Management System; coverage of an advanced and integrated monitoring and forecasting system to identify hydrogeological risks for 90% of the surface area in southern regions; marine habitat protection and coastal observation work; improving the energy efficiency of public housing; with regard to universities, funding 5,000 research projects of national interest, hiring approximately 2,300 new researchers, allocating more than 550 research grants, and providing financing for research projects on rare and severely debilitating diseases. 

    Among the strategic reforms that have been carried out, the reduction in payment delays by central and local government authorities, regional authorities, autonomous provinces and national health service bodies is particularly significant.

    MIL OSI Europe News –

    June 30, 2025
  • MIL-OSI Europe: NRRP steering committee meeting held at Palazzo Chigi to verify milestones and targets for eighth instalment

    Source: Government of Italy (English)

    A steering committee meeting for the National Recovery and Resilience Plan (NRRP) was held at Palazzo Chigi today, called and chaired by the Minister for European Affairs, the NRRP and Cohesion Policy, Tommaso Foti. The purpose of the meeting, attended by the Ministers and Undersecretaries in charge as well as by representatives from ANCI [National Association of Italian Municipalities], UPI [Union of Italian Provinces] and the Conference of Regions and Autonomous Provinces, was to verify progress of the 40 objectives linked to the payment request for the eighth instalment of Italy’s NRRP, worth EUR 12.8 billion. 

    Following a detailed review, the steering committee acknowledged the implementation status of the 12 milestones and 28 targets required for the eighth instalment, which include reforms and investments that are strategic for the nation’s growth, involving 13 administrations.

    The most significant measures include: digitalisation of the Guardia di Finanza [Italian Finance Police], with innovative IT systems to fight economic crime; more than 1,000 language and methodology courses for school teachers; the launch of projects to update school curricula in over 8,000 schools and guide students towards STEM skills; completion of culture and tourism enhancement projects by supporting approximately 2,000 small and medium-sized enterprises; redevelopment of around 50 historical parks and gardens.

    Regarding the eighth instalment, implementation of measures was also verified linked to: 1,400km of rail infrastructure being equipped with the European Rail Traffic Management System; coverage of an advanced and integrated monitoring and forecasting system to identify hydrogeological risks for 90% of the surface area in southern regions; marine habitat protection and coastal observation work; improving the energy efficiency of public housing; with regard to universities, funding 5,000 research projects of national interest, hiring approximately 2,300 new researchers, allocating more than 550 research grants, and providing financing for research projects on rare and severely debilitating diseases. 

    Among the strategic reforms that have been carried out, the reduction in payment delays by central and local government authorities, regional authorities, autonomous provinces and national health service bodies is particularly significant.

    MIL OSI Europe News –

    June 30, 2025
  • MIL-OSI United Kingdom: London gang members’ sentences increased for gun offences

    Source: United Kingdom – Executive Government & Departments

    Press release

    London gang members’ sentences increased for gun offences

    Two members of a London gang have had their sentences increased following a referral by the Solicitor General.    

    Two men in a South London-based gang have had their sentences increased after the Solicitor General Lucy Rigby KC MP referred the case to the Court of Appeal under the Unduly Lenient Sentence scheme.   

    The court heard details of the ‘WoolyO’ gang operating in Woolwich, South London. The gang were involved in a long running feud with another London gang which was played out through social media posts and videos, violence and drill music published online.  

    Essex Police’s Serious and Organised Crime Unit (SOCU) and by the Metropolitan Police Trident Crime Command launched investigations into the WoolyO gang after three men agreed to meet WoolyO members in Aveley, Essex, to purchase some phones on the evening of Monday 20 November 2023.  

    However, the men were robbed of £4,000 cash and one victim was struck by one of the gang members holding a handgun, causing the loaded magazine to fall to the ground. When officers arrived at the scene, the suspects had gone but the same magazine was found.  

    The following morning, officers carrying out further enquiries returned to the scene where they located gang member Bryan Aidoo (19). He was found to be in possession of a zombie knife and arrested.  

    A mobile phone seized from Aidoo contained a high volume of criminal material referencing gang violence.  This included a video, featuring a fellow associate of the gang, Roqeeb Ladeaga (23),  where bullets were assigned to named individuals from other London gangs.  

    Messages were found celebrating the shooting of a rival gang member, discussing how to retrieve the handgun magazine lost at the robbery, and pressurising the victim of the robbery to withdraw his support for the prosecution. Footage showed the group handling firearms and referring to its criminal use. 

    The Solicitor General Lucy Rigby KC MP said:

    This was a ruthless gang who boasted about their criminal activities online, while using dangerous weapons to terrorise and threaten our communities.   

    I would like to commend the police for their comprehensive investigations and I welcome the Court of Appeal’s decision to increase Roqeeb Ladeaga and Bryan Aidoo sentences.” 

    Detective Inspector Yoni Adler, Serious and Organised Crime Unit, said: “In upholding the law, justice must be served – especially when firearms are involved. 

    We must demand accountability from those who threaten the safety of our communities. This hearing was not to debate the facts of the case. Those have been established in a court of law previously.  

    Instead, the appeal court has upheld the view that the original sentence was unduly lenient and therefore, the consequence of the defendants’ actions deserved a more fitting sentence, one that greater reflects the seriousness of the crime. 

    We have worked with the Crown Prosecution Service so that together we gain the public’s trust and confidence in our abilities to solve serious crimes and suitably sentence perpetrators, to ensure the integrity of our justice procedures. 

    Today, when the safety of our country’s streets is threatened by those armed with firearms, this new result ensures that justice is not only done—but is seen to be done.” 

    On 28 March 2025 at Basildon Crown Court, Roqeeb Ladeaga was sentenced for four years and six months imprisonment for conspiracy to possess a firearm with intent to cause fear of violence, and Bryan Aidoo for four years for conspiracy to possess a firearm with intent to cause fear of violence and six months concurrent for possession of a bladed article.  

    On 20 June 2025, Ladeaga’s sentence was increased to five years and Aidoo’s sentence was increased to five years and   nine months concurrent for the bladed article charge.

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    Updates to this page

    Published 30 June 2025

    MIL OSI United Kingdom –

    June 30, 2025
  • MIL-OSI United Kingdom: Black Sabbath awarded the Freedom of the City of Birmingham

    Source: City of Birmingham

    The founding members of Black Sabbath were awarded the Freedom of the City of Birmingham at a ceremony in the Council House on Saturday.

    At the ceremony, the original band members of Terence “Geezer” Butler, Tony Iommi, Ozzy Osbourne, and Bill Ward were presented with their Freedom of the City scrolls and medals by the Lord Mayor of Birmingham, Councillor Zafar Iqbal.

    The Freedom of the City honour is the one of the oldest traditional ceremonies in the country and recognises people’s exceptional service to the city.

    This honour recognises Black Sabbath’s significance to the cultural and musical identity of Birmingham, their strong association with the city and continued influence as pioneers of heavy metal in both Birmingham and beyond.

    As part of the Freedom of the City, each band member received the title of Honorary Freeman and an engraving of their names on the Freedom of the City marble board was also unveiled at the ceremony.

    The scrolls were produced by local company Hilton Studios and the medals were produced by Jewellery Quarter based business Fattorini.

    The medal design was created by competition winner Toby Williams, a student studying in the School of Jewellery at Birmingham City University.

    Toby’s winning design was inspired by the themes of industry and community, reflecting the people of Birmingham  

    Black Sabbath formed in Aston in 1968, going on to create eight albums and selling over 75 million albums worldwide. They are considered pioneers of the heavy metal genre and are one of the most commercially successful heavy metal bands.

    They were inducted into the Rock and Roll Hall of Fame in 2006, awarded a Lifetime Ivor Novello Songwriting Award in 2015 and were presented with a Grammy Lifetime Achievement Award in 2019.

    Speaking on receipt of the award, Terence “Geezer” Butler said: “This is a great working class city, and we’re all working class, from Aston. We weren’t given a chance when we started out, but Birmingham has always been behind us. People used to make fun of our accents, but we’re all proud Birmingham people and we love this city. It’s one of the greatest cities ever, it’s given the world so much and we’re proud to be here.”

    Tony Iommi added: “It’s a great thing to receive. Birmingham is our home, and we love what Birmingham has done for us. We’ve got the bridge and the bench, things like that. We’re very grateful.”

    Ozzy Osbourne said: “I first put an advert in a music store in town. If these guys hadn’t come to my door, I wouldn’t be sitting here now. It seems to have flown by so quickly. It’s amazing. I think about my dad, who went into debt to buy me a microphone. If only he could be here now. I think he would be very proud. I’m a Brummie and I always will be a Brummie. Birmingham Forever!”

    Bill Ward added: “It’s completely overwhelming. I’m so proud to be an Astonian. That’s where I got my attitude. It was a blessed – and cursed! – to meet Tony when I was 15, and I’m so proud that I got to know Geezer and Ozzy. They’re my brothers. I love them very much and we love our city very much.”

    The engravings in the Council House building joins Black Sabbath bridge on Broad Street as a permanent tribute to the band and their accomplishments.

    Cllr Sharon Thompson, Deputy Leader of the city council said “From the streets of Aston to global success, the ceremony has been a fitting celebration of their achievements and connection to our city, showcasing the band’s incredible career as pioneers of heavy metal and recognising their continued legacy as part of Birmingham’s rich musical identity.

    Black Sabbath are global ambassadors of our city, and their music continues to inspire musicians across the world, so it has been wonderful to recognise the band with this honour.”   

    Councillor Zafar Iqbal, Lord Mayor of Birmingham: “It is a pleasure to pronounce Terence “Geezer” Butler, Tony Iommi, Ozzy Osbourne, and Bill Ward as Freemen of the City of Birmingham. 

    The Freedom of the City is one of the oldest civic honours and given in recognition of exceptional service to Birmingham.

    Conferring these honours on Black Sabbath’s founding members, who are proud Brummies, is a fitting tribute to the band, marking their importance to Birmingham’s cultural landscape and the pride of our city as their hometown.  

    Professor David Mba, Vice Chancellor, at Birmingham City University, said: “We’re proud that our University – and particularly the iconic School of Jewellery – has played such an instrumental role in this special recognition of a very special band.

    “The creation of these remarkable medals is a golden demonstration of how BCU – as rooted in Birmingham as Black Sabbath themselves – continues to answer the call of the city, standing alongside willing partners like the City Council.

    “Congratulations to Ozzy, Geezer, Tony and Bill. We hold great pride in your peerless representation of Birmingham on a global stage.”

    MIL OSI United Kingdom –

    June 30, 2025
  • MIL-OSI United Kingdom: Museums give city economy multi-million pound boost

    Source: City of Leeds

    The city’s council-run museums and galleries have given a massive £47.3m boost to the local economy over the past year, new figures have revealed.

    The latest economic impact report compiled by Leeds Museums and Galleries sets out the remarkable figures, with the service’s eight sites also welcoming an impressive 939,494 people in the same period.

    Aimed at assessing the positive impact of the sites on the city and the region, the figures are calculated using factors such as overall spend on and off sites, employment impact and overall spend on local goods and services.

    Against an annual budget of approximately £5m, the figures mean that every £1 invested in museums and galleries in turn generates £9 for the city.

    As well as the economic benefits, the report also captures the huge social impact the service has, with 105,501 children and adults taking part in family activities, 46,349 school pupils visiting, as well as 38,855 visits from vulnerable adults and young adults.

    Successful applications for grant funding over the course of the year also brought £2,394,855 into the city and the use of local services supported 100 external jobs worth £3.3m.

    The news comes after the service recently launched a new contactless “Pay What Your Can” entrance model at Leeds Art Gallery, Leeds City Museum, Kirkstall Abbey and Leeds Discovery Centre, asking visitors to help support the upkeep of the attractions and the care and conservation of more than 1.3 million objects.

    Councillor Salma Arif, Leeds City Council’s executive member for adult social care, active lifestyles and culture, said: “The fact our museums and galleries have managed to achieve so much against such a uniquely challenging climate for the sector and for local authorities really does speak volumes about the exceptional work which goes into creating a visitor offer that’s exciting, innovative, and appealing to visitors.

    “The economic impact these wonderful attractions have unquestionably makes a huge difference to the city each and every year, but just as important is the social value our sites have, giving people of all ages the chance to engage with history, heritage, art and the natural world in a multitude of different ways, supporting education, combatting social isolation and raising the city’s profile as a national and international cultural destination.

    “Now more than ever we need the support of the public to ensure council-run museums and galleries remain accessible, sustainable and can carry on inspiring visitors for generations to come.”

    Among the country’s largest services of its kind, Leeds Museums and Galleries operates eight sites in total: Leeds Art Gallery, Leeds City Museum, Temple Newsam House, Lotherton Hall, Abbey House Museum, Kirkstall Abbey, Leeds Industrial Museum and the Leeds Discovery Centre.

    Popular exhibitions which have attracted visitors over the past year include a celebration of beloved children’s character Miffy at Leeds City Museum, Story Time at  Abbey House Museum, which explores how reading, learning and enjoying stories has changed through the ages, and Peter Mitchell, Nothing Lasts Forever at Leeds Art Gallery, a retrospective exhibition showcasing the work of British documentary photographer Peter Mitchell.

    For more information on Leeds Museums and Galleries, please visit: Leeds Museums and Galleries | Days out and exhibitions

    ENDS

    MIL OSI United Kingdom –

    June 30, 2025
  • MIL-OSI Russia: About 3 thousand Afghan families returned home from Pakistan and Iran in one day

    Translation. Region: Russian Federal

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

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

    KABUL, June 30 (Xinhua) — A total of 2,997 Afghan families (10,661 people) returned home from neighboring Iran and Pakistan on Sunday, the Afghan High Commission for Repatriates’ Issues said on Monday.

    The report said the refugees entered Afghanistan through the Torkham, Spin Boldak and Abresham border crossings. Most of the migrants returned from Iran through the Islam Qala checkpoint.

    More than 1.2 million Afghans will return from neighboring Iran and Pakistan in 2025, according to the United Nations High Commissioner for Refugees.

    The Afghan interim government has repeatedly called on Afghan refugees to return home from abroad to contribute to the reconstruction of their war-torn homeland. –0–

    MIL OSI Russia News –

    June 30, 2025
  • MIL-OSI Russia: Chinese opera is presented in central Vietnam

    Translation. Region: Russian Federal

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

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

    HUE, Vietnam, June 30 (Xinhua) — A troupe from south China’s Guangxi Zhuang Autonomous Region performed a traditional Chinese opera in central Vietnam’s Hue city on Sunday.

    The event, held at the Royal Theatre in the Imperial City of Hue, showcased the diversity of Chinese opera styles and attracted audiences including Chinese and Vietnamese officials as well as local residents.

    The performance included live music, traditional costumes and scenes from Chinese opera.

    The troupe’s tour, part of efforts to strengthen cultural ties between China and Vietnam, will continue in Ho Chi Minh City. –0–

    MIL OSI Russia News –

    June 30, 2025
  • MIL-OSI Russia: China’s summer travel rush is expected to see 953 million rail passenger trips

    Translation. Region: Russian Federal

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

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

    BEIJING, June 30 (Xinhua) — China is expected to see 953 million passenger train trips during the summer travel season that starts Tuesday, state-owned China Railways Corp. said Monday.

    This figure is 5.8 percent higher than the number of passenger trips by rail in the summer of 2024, according to KZhD data.

    The summer travel rush is usually a busy season for the rail network as students return home and families head out on trips.

    This year’s summer tourist rush will last 62 days from July 1 to August 31, and the average daily passenger volume by rail during this period is expected to be about 15.37 million person-times, the railway operator said.

    In order to meet the growing demand, railway authorities will open additional routes, and the number of passenger trains running throughout the country will reach 11,500 per day, KZhD reports. -0-

    MIL OSI Russia News –

    June 30, 2025
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