Source: Reserve Bank of India
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Category: Economics
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MIL-OSI Economics: Money Market Operations as on May 14, 2025
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MIL-OSI Economics: AGNICO EAGLE ANNOUNCES ADDITIONAL INVESTMENT IN FORAN MINING CORPORATION
Source: Agnico Eagle Mines
Stock Symbol: AEM (NYSE and TSX)
TORONTO, May 14, 2025 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle”) announced today that it has agreed to subscribe for 30,000,000 voting common shares (“Common Shares”) of Foran Mining Corporation (“Foran”) in a non-brokered private placement at a price of C$3.00 per Common Share for total consideration of C$90,000,000 (the “Private Placement”). The Private Placement is expected to close in two tranches. The closing of each tranche remains subject to certain closing conditions, including approval of the Toronto Stock Exchange, and closing of the second tranche is also subject to approval by the shareholders of Foran. Closing of the first tranche is expected to occur on or about May 28, 2025 and the second tranche is expected to close as soon as practicable following receipt of shareholder approval.
Agnico Eagle currently owns 39,125,448 Common Shares, representing approximately 9.9% of the issued and outstanding Common Shares on an undiluted basis. On closing of the first tranche of the Private Placement, Agnico Eagle is expected to own 64,454,767 Common Shares, which will represent approximately 13.1% of the issued and outstanding Common Shares on an undiluted basis (assuming that Foran issues an additional 73,173,590 Common Shares in connection with the first tranche of the concurrent private placements). On closing of the second tranche of the Private Placement, Agnico Eagle is expected to own 69,125,448 Common Shares, which will represent approximately 13.5% of the issued and outstanding Common Shares on an undiluted basis (assuming that Foran issues an additional 13,493,077 Common Shares in connection with the second tranche of the concurrent private placements).
Agnico Eagle and Foran are party to an investor rights agreement dated August 8, 2024 (the “Existing Agnico IRA”), pursuant to which Agnico Eagle is entitled to certain rights, provided Agnico Eagle maintains certain ownership thresholds, including: (a) the right to participate in certain equity financings by Foran to acquire up to the greater of: (i) 19.99% of the Common Shares being offered in the equity financing, or (ii) such number of Common Shares that would permit Agnico Eagle to maintain its pro rata ownership interest in Foran; (b) the right to top-up its holdings in relation to dilutive issuances by Foran in order to maintain its pro rata ownership interest in Foran; and (c) the right to nominate one person to the board of directors of Foran.
On the closing of the first tranche of the Private Placement, the Existing Agnico IRA will be amended and restated in order to, among other things: (a) amend the participation and top-up rights to permit Agnico Eagle to participate in equity financings and top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership interest in Foran at the time of such financing or acquire up to a 19.99% ownership interest in Foran; and (b) amend the nomination right to permit Agnico Eagle to nominate an additional individual to the board of directors of Foran if the size of the board is increased to 10 or more directors.
In addition, Agnico Eagle is announcing a previously reported follow-on investment in Azimut Exploration Inc. (“Azimut”). On September 28, 2023, Agnico Eagle acquired an additional 2,197,300 common shares (“Azimut Shares”) of Azimut at C$1.05 per Azimut Share (the “Share Purchases”) for total consideration of C$2,307,165 from several sellers that participated in an offering of flow-through Azimut Shares undertaken by Azimut at such time (as more particularly described in Azimut’s news release dated September 28, 2023). Prior to the Share Purchases, Agnico Eagle owned 8,003,425 Azimut Shares, representing approximately 10.06% of the issued and outstanding Azimut Shares on a undiluted basis at such time. Following the Share Purchases, Agnico Eagle owned 10,200,725 Azimut Shares, representing approximately 12% of the issued and outstanding Azimut Shares on a undiluted basis at such time.
Agnico Eagle is acquiring the Common Shares, and acquired the Azimut Shares for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares, Azimut Shares or other securities of Foran or Azimut, or dispose of some or all of the Common Shares, Azimut Shares or other securities of Foran or Azimut it owns at such time.
Separate early warning reports in respect of the Foran investment and the Azimut investment will be filed by Agnico Eagle today. To obtain a copy of either early warning report, please contact:
Agnico Eagle Mines Limited
c/o Investor Relations
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.comAgnico Eagle’s head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Foran’s head office is located at 409 Granville Street, Suite 904, Vancouver, British Columbia V6C 1Y2. Azimut’s head office is located at 110 De la Barre Street, Suite 224, Longueuil, Quebec J4K 1A3.
About Agnico Eagle
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico, with a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
Forward-Looking Statements
The information in this news release has been prepared as at May 14, 2025. Certain statements in this news release, referred to herein as “forward-looking statements”, constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as “may”, “will” or similar terms.
Forward-looking statements in this news release include, without limitation, statements relating to the expected closing of the Private Placement (including the expected closing date of each tranche), the ability to satisfy closing conditions in respect of the Private Place (including obtaining approval of the Toronto Stock Exchange and the shareholders of the Foran), Agnico Eagle’s expected ownership interest in Foran upon closing of each tranche of the Private Placement, the expected number of securities to be issued in each tranche of the Private Placement and Agnico Eagle’s acquisition or disposition of securities of Foran or Azimut in the future.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.
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SOURCE Agnico Eagle Mines Limited
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MIL-OSI Economics: Africa Road Builders: Angolan President João Lourenco, winner of the Babacar Ndiaye Prize 2025
Source: African Development Bank Group
Angolan President João Lourenço has won the 2025 “Africa Road Builders” prize –awarded to African leaders who have invested in infrastructure development. He follows Equatorial Guinea’s Téodoro Obiang Nguema Mbasogo and Congo Denis Sassou-Nguesso, who were joint winners in 2024.
The selection committee for the Babacar Ndiaye Road Builder Super Prize, meeting in Dubai on 25 April, awarded it to Lourenço for the construction of major transport infrastructure in Angola. Projects include the Lobito Corridor, a strategic regional railway line between Zambia, Angola and the Democratic Republic of Congo. The African Development Fund, the African Development Bank Group’s concessional loans window, provided a grant of $8.14 million towards implementing the project, which will improve regional integration and support trade between the three countries.
The construction of the new Dr Agostinho Neto international airport, which opened in November 2023, paving 2,000 km of roads, resurfacing a further 2,000 km and building a light metro system in Luanda were the key factors in making their decision, the committee said.
“We were aware that in recent years, Angola has embarked on a major transformation of its transport infrastructure, with the aim of strengthening its strategic position in southern and central Africa and diversifying its economy. The immediate impacts of these various projects and achievements have been the creation of several services, including the use of new information and communication technologies,” explained the Africa Road Builders selection committee.
The latest winner of the Babacar Ndiaye prize will receive his award in Abidjan on 28 May, alongside the Annual Meetings 2025 of the African Development Bank Group.
Sponsored by the African Development Bank Group, the Babacar Ndiaye Africa Road Builders prize is awarded by Acturoutes, a platform that provides information on the road network and infrastructure in Africa, and the organization Media for Infrastructure and Finance in Africa (MIFA), a network of African journalists specializing in road infrastructure.
The prize was created in honour of Babacar Ndiaye (1936-2017), President of the African Development Bank Group from 1985 – 1995. Each year, the “Africa Road Builders” Selection Committee evaluates ambitious, tangible projects that have a real impact on people’s mobility in Africa.
Since its launch in 2016, the Babacar Ndiaye Prize has been awarded to the following heads of state: King Mohamed VI (Morocco), Edgar Lungu (Zambia), Alassane Ouattara (Côte d’Ivoire), Ali Bongo Ondimba (Gabon), Macky Sall (Senegal) and Paul Kagamé (Rwanda) as joint winners in 2017, Uhuru Kenyatta (Kenya), Adama Barrow (Gambia), Abdel Fattah-al Sissi (Egypt), Muhammadu Buhari (Nigeria), Samia Suhulu Hassan (Tanzania), Andry Rajoelina (Madagascar), and Teodoro Obiang Nguema Mbasogo (Equatorial Guinea) and Denis Sassou-Nguesso (Congo), joint winners in 2024.
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MIL-OSI Economics: ACP Statement on House Ways and Means Committee Advancing Tax Bill
Source: American Clean Power Association (ACP)
Headline: ACP Statement on House Ways and Means Committee Advancing Tax Bill
WASHINGTON D.C., May 14, 2025 — The American Clean Power Association (ACP) issued the following statement from ACP CEO Jason Grumet after the House Ways and Means Committee advanced the tax portion of the budget reconciliation bill:
“When Congress plays Red Light / Green Light with domestic energy production, American companies lose billions of dollars, investment stalls, and our economy suffers.
“The legislation advanced today out of House Ways and Means does not deliver an orderly phase-down of clean energy tax credits. It imposes a sudden policy shift that would raise energy costs, take paychecks away from tens of thousands of American workers, and harm the economies of small towns across the nation.
“We embrace the Administration’s goal to spur job growth and innovation through lower taxes. The Ways and Means bill would significantly raise taxes on the fastest-growing energy sector, undercutting Congress’ and the Trump Administration’s economic goals.
“America is in a race with China for digital dominance. We cannot win this race without the energy required to power AI data centers. Over 90% of the electricity added to the grid last year came from the clean sources threatened by this legislation. Now is not the time for disruptive policy that will reduce American energy production and threaten our security.
“There is a sensible way to phase down clean energy incentives. We remain committed to working with lawmakers on a path that achieves their legitimate policy goals without harming American companies, consumers, and communities.” -
MIL-OSI Economics: Trade Policy Review: Cabo Verde
Source: WTO
Headline: Trade Policy Review: Cabo Verde
The following documents are available:
Secretariat report
A detailed report written independently by the WTO Secretariat.Government report
A policy statement by the government of the member under review.From the meeting
The Secretariat and Government reports are discussed by the WTO’s full membership in the Trade Policy Review Body (TPRB).
Concluding remarksBackground
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries’ trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. All WTO members are subject to review, with the frequency of review depending on the country’s size.Share
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MIL-OSI Economics: Trade and Gender Group discusses new work programme, potential MC14 outcomes
Source: WTO
Headline: Trade and Gender Group discusses new work programme, potential MC14 outcomes
The co-Chairs of the Informal Working Group (IWG), Ambassador Clara Delgado of Cabo Verde, Ambassador Patricia Benedetti of El Salvador and Ambassador Simon Manley of the United Kingdom, reported on the consultations held with members to shape the Group’s priorities ahead of MC14. They highlighted the importance of agreeing on the Work Plan for 2025-26, which will help identify practical ways to move the substantive work of the IWG forward.
Key themes raised by members included gender-disaggregated trade data, digitalization as a tool for women’s empowerment, support for women entrepreneurs, and mainstreaming gender issues across WTO bodies. Members also called for continued collaboration with other international organizations. A draft work plan will be finalized in the coming weeks.
International Prize for Gender Equality in Trade
The WTO launched the second edition of the International Prize for Gender Equality in Trade, which recognizes impactful gender-responsive trade policies. The deadline for applications has been extended to 15 May, with eight submissions received so far. Winners will be announced in June 2025, with further details on the award ceremony to follow. The Prize, first introduced to mark International Women’s Day in 2024, will now be awarded annually, following a decision made by the IWG in November 2024.
WEIDE Fund
The WTO Secretariat and the International Trade Centre (ITC) provided an update on the implementation of the Women Exporters in the Digital Economy (WEIDE) Fund. Launched at the 13th WTO Ministerial Conference in February 2024, the Fund has raised USD 22 million in donations and pledges, aiming to bridge resource and skills gaps for women-led businesses in the digital economy.
The Fund targets micro, small and medium-sized enterprises (MSMEs) and offers grants of up to USD 30,000, alongside technical support, to enhance digital competence and market access. The Fund aims to foster growth in digital skills and financial readiness, with a focus on empowering women entrepreneurs globally.
With applications now open for women entrepreneurs, the initiative has already selected four business support organizations (BSOs), following a competitive call for proposals, to help administer grants in four countries: Dominican Republic, Jordan, Mongolia and Nigeria. Over 2,000 applications have been received from all four countries following a call launched on 22 April 2025.
Presentations
The Dominican Republic presented progress and lessons learned from its gender-responsive programme ProDominicana, supporting women exporters since 2020. Key initiatives include a national plan for export promotion, gender equality policies, and the development of a platform to track women-led export businesses.
ProDominicana organizes annual events, such as Women in Export meetings, fostering partnerships and expanding business-to-business (B2B) opportunities. It has also launched a comprehensive institutional strategy to strengthen women’s participation in exports, with collaboration from government bodies, women’s associations and international partners. Additionally, ProDominicana provides training programmes with a focus on export and trade development, which have benefitted hundreds of women.
These initiatives reflect the Dominican Republic’s commitment to promoting gender equality and enhancing opportunities for women entrepreneurs. For this purpose, ProDominicana has been working with ITC on various projects including the SheTrades Hub and the WEIDE Fund.
The Secretariat for Central American Economic Integration (SIECA) updated members about its work on data on women involved in trade in Central America, noting the importance of women’s participation in economic activities. Central America has made strides in integrating gender into trade agreements, with policies promoting gender equality and specific measures supporting women in e-commerce and access to financing.
The region’s population is predominantly female, and efforts are focused on reducing gender gaps, particularly in leadership roles within businesses and political participation. The need for better gender-disaggregated data and more support for women in science, technology, engineering and mathematics (STEM) fields was underlined. The region’s gender equality policy emphasizes democratic security, economic integration, and the need for continued efforts to ensure women’s participation in decision-making processes.
The WTO Secretariat informed the IWG that due to budgetary constraints, the length of the second edition of the World Trade Congress on Gender has been adjusted. In this regard, there will be a one-day symposium organized back-to-back with the next IWG meeting in July. A programme will be communicated in due course.Share
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MIL-OSI Economics: Microsoft announces ARC Initiative to strengthen cybersecurity in Kenya
Source: Microsoft
Headline: Microsoft announces ARC Initiative to strengthen cybersecurity in Kenya
In a world increasingly flooded with cyber threats, the need for robust and collaborative cybersecurity measures has never been more pressing. At the recent Global Conference on Cyber Capacity Building (GC3B) in Geneva, Microsoft announced our Advancing Regional Cybersecurity (ARC) Initiative—designed to strengthen regional cybersecurity preparedness, resilience, and coordination. As part of this launch, we’re proud to announce our partnership with Kenya’s National Computer and Cybercrime Coordination Committee (NC4) to advance this effort.
Africa’s rapid digital transformation
The ARC Initiative reflects the multistakeholder commitments of the Accra Call, signed in Ghana at the inaugural GC3B in 2023. The Accra Call recognized that the Global South’s rapid digital transformation presents immense opportunities but also exposes organizations and individuals to escalating cyber threats. We have seen significant cybersecurity incidents in Africa that highlight the need for robust cybersecurity measures. In December 2024, a regional small enterprise authority experienced a data breach, resulting in the exposure of sensitive information on the dark web. In the same month, a state-owned telecom company experienced a ransomware attack that compromised and exposed sensitive customer data. These incidents underscore the rising threats against the continent and the necessity for collaborative efforts to enhance cyber readiness.
Microsoft has long stood for cybersecurity for all
Microsoft has a longstanding commitment to strengthening cybersecurity globally and ensuring that capacity building benefits everyone. For three years, the CyberPeace Institute, in collaboration with Microsoft, has deployed services and tools to bolster the digital resilience of civil society . This partnership has shielded organizations from cyber threats while promoting scalable and sustainable solutions for digital defense. Microsoft recently renewed our partnership with the CyberPeace Institute to continue protecting those most vulnerable from cyber harm and to introduce strategic funding support to advance long-term cyber resilience. Together, we strive to empower civil society organizations with the tools, knowledge, and infrastructure necessary to navigate an increasingly complex cyber landscape and withstand growing threats.
This renewed partnership and the ARC initiative follow previous efforts— for example, our cybersecurity skilling initiatives, onboarding NC4 onto our threat and vulnerability management system: Microsoft Government Security Program (GSP), publishing Cybersecurity and Sustainable Development: A Global Path Forward—a compendium of recommendations on fostering cyber resiliency alongside digital growth, and the launch of the GitHub Secure Open Source Fund, a program designed to financially and programmatically improve the security and sustainability of open source projects—all focused on creating a secure and resilient digital ecosystem for all.
The ARC Initiative
The ARC Initiative and our partnership with NC4 will bolster incident response and recovery efforts through a strong emphasis on collaboration and shared expertise. This initiative will:
- Identify and assess Kenya’s cybersecurity priorities through a roundtable that fosters open dialogue and shared understanding among key stakeholders.
- Strengthen Kenya’s cyber readiness through collaboration with NC4 and other key stakeholders through a tabletop exercise aimed at strengthening collective preparedness—simulating a realistic cyber incident and stress-testing coordination.
- Leverage Insights from these activities to create a practical toolkit designed to guide future planning, collaboration, and capacity-building efforts
A strategic vision: looking beyond Kenya
Kenya’s advanced approach to cybersecurity, underpinned by NC4’s strategic vision and execution, has positioned the country as a regional model for cybersecurity and innovation. The toolkit we develop together will not only help bolster Kenya’s cyber capacity but will also have tools and lessons learned that can be applied across the continent and beyond. Together, we aim to not only uplift Kenya’s capabilities but also pave the way for a regional network of excellence and cooperation—something that we hope will ultimately benefit the cybersecurity of Africa and the world.
Microsoft envisions the ARC Initiative’s success in Kenya as a catalyst for broader expansion and collaboration across the Global South. By fostering partnerships and tailoring cybersecurity solutions, we hope to replicate the ARC model in other regions, empowering governments to enhance their cyber readiness and elevating their voices across global cybersecurity dialogues and negotiations. Nations eager to advance their cybersecurity capacity are encouraged to join hands with us in developing ARC initiatives uniquely suited to their challenges and aspirations.
Through the ARC Initiative and our growing partnership with NC4, Microsoft reaffirms its dedication to advancing regional cybersecurity and fostering collaboration across borders. As Africa continues its dynamic digital evolution, initiatives like these not only address immediate challenges but also lay the groundwork for sustainable, long-term resilience against cyber threats. Together, we can build a safer, more interconnected future, empowering nations and communities to thrive in the digital age.
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MIL-OSI Economics: IPAA Congratulates Katharine MacGregor on Deputy Secretary of Interior Confirmation
Source: Independent Petroleum Association of America
Headline: IPAA Congratulates Katharine MacGregor on Deputy Secretary of Interior Confirmation
May 14, 2025 IPAA Congratulates Katharine MacGregor on Deputy Secretary of Interior Confirmation
Posted at 12:49h in Press ReleasesIndependent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman issued the following statement congratulating Katharine MacGregor for her Senate confirmation to be the Deputy Secretary of the Department of Interior by a vote of 54-40:
“The Trump Administration continues to fill important positions within the federal government with outstanding professionals who are committed to increasing American energy dominance. Kate MacGregor is a valuable addition to Secretary Burgum’s team at the Department of the Interior and IPAA looks forward to working with her on various issues facing our members that operate on onshore and offshore federal lands.”
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MIL-OSI Economics: Galaxy S25 Ultra Powers Samsung Gear Up Cup Gaming Competition
Source: Samsung
With $100,000 on the line, professional Call of Duty Mobile gamers trained some of the best Call of Duty PC and console players to battle it out on Galaxy S25 Ultra, competing for first place at the Samsung Galaxy Gear Up Cup at the LVL UP Expo in Las Vegas. The competition kicked off on April 11, with the semifinals and finals showcase taking place on April 25. Each night was packed with exciting moments, clutch 1v1s, as well as the latest and greatest Samsung mobile gaming technology.
In the action-packed finale, the Nebula Knights were crowned champions and walked away with bragging rights and $100,000. They were led by their team captain, Space, and an all-star cast of gamers: Lucky Chaumu, IceManIsaac, Rated, and Primroze. In second place was The Momentum, with team captain, Jezz, and a stacked roster of their own: Aydan, Huskerrs, Santana, and Noemi.
In addition to team competitions, the highly anticipated Captain v. Captain showcase ended with Jezz defeating Space. -
MIL-OSI Economics: Smarter Wearables: Gemini Is Coming to Galaxy Watch and Buds
Source: Samsung
Your Galaxy wearables are about to get even smarter, starting this winter. The Gemini app is set to debut on the Galaxy Watch6 series and later models, making its first integration into the Galaxy wearable lineup. Moreover, activating Gemini will be smoother than ever when paired with the Galaxy Buds3 series. This update will extend AI functionalities—previously exclusive to smartphones—across the entire Galaxy ecosystem, creating a more cohesive and intelligent user experience.
Galaxy Watch: Your Routine, Made Effortless
With Gemini on your Galaxy Watch, your daily routine is a breeze. If you’re working out and remember you need to send yesterday’s meeting notes, simply ask Gemini to find the relevant email using natural voice commands such as “Where’s the latest email about yesterday’s board meeting?” Then tell Gemini to send a summary of the email in a text message to your team. When you’re carrying heavy shopping bags and need to take a break, simply activate Gemini on your Galaxy Watch and ask to find a nearby café—all without breaking stride to use your phone.
With Gemini, Galaxy Watch users can stay productive on the move
Galaxy Buds: Seamless Device Interaction
When used with Galaxy Buds, the Gemini experience becomes even more seamless. By using voice or pinch and hold controls, you can activate Gemini on your Galaxy Buds and smoothly interact with your Galaxy smartphone. With Gemini, a more intelligent Galaxy experience is at your fingertips. -
MIL-OSI Economics: Reimagining WTO Dispute Settlement: a business case for mediation
Source: International Chamber of Commerce
Headline: Reimagining WTO Dispute Settlement: a business case for mediation
Mediation: A forgotten piece in WTO dispute resolution
Most trade frictions never reach WTO dispute settlement. Many business concerns – licensing delays, technical barriers or opaque procedures – disrupt trade but are too small, sensitive or costly to escalate to formal dispute settlement.
That’s where alternative dispute resolution (ADR), and more specifically mediation, comes in. WTO rules already allow for it, but the tool has not been used, among other things, due to a lack of clear procedures.
That’s changing.
As part of the WTO reform process, WTO Members are discussing procedural rules to make mediation a workable option – and we can help accelerate this process by supporting governments willing to pilot mediation in practice.
Why it matters
For business
Companies face real costs from unresolved trade frictions. Mediation offers a practical and quicker way to resolve issues – and businesses can help identify where it’s needed.
For governments
Mediation gives WTO Members a lower-risk, lower-cost path to resolve trade issues early. It is especially important for developing countries that may lack resources for litigation.
The benefits of WTO mediation
- Enables early, informal resolution of trade concerns
- Reduces time, cost, and legal burden
- Promotes cooperation—not confrontation
- Offers a flexible and confidential process
- No imposed ruling—outcomes are mutually agreed
What we are doing
ICC is advocating for the use of ADR, and in particular mediation within the WTO dispute settlement system as part of broader reform efforts. Drawing on ICC’s extensive experience as the world’s leading institution in cross-border dispute resolution, we’re supporting efforts to make mediation a practical option for resolving trade frictions more effectively.
How you can get involved
We are actively seeking companies with unresolved trade concerns who are willing to engage their governments in pilot mediation cases. These cases can help demonstrate how WTO mediation can deliver fast, practical outcomes and strengthen trust in the rules-based system.
Contact Valerie Picard, Head of Trade, ICC, Valerie.Picard@iccwbo.org to learn more or explore a pilot case.
Related publications
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MIL-OSI Economics: NEW REPORT: Clean Energy Contracts with Fortune 500 Companies Surge in 2024
Source: American Clean Power Association (ACP)
Headline: NEW REPORT: Clean Energy Contracts with Fortune 500 Companies Surge in 2024
In 2024 alone, the clean energy industry invested nearly $80 billion to deploy nearly 49 GW of new clean energy projects and build 45 manufacturing facilities
New data shows industry supports 1.4 million American jobs—460,000 directly and nearly a million more in supply chains and supporting industries
Clean energy power purchase agreements (PPAs) reached record levels in 2024, showing increasing demand for clean energy resources from economic sectorsWASHINGTON, D.C., May 14, 2025 – The American Clean Power Association (ACP) today released its Clean Power Annual Market Report | 2024. The data from ACP shows an industry critical to the viability of the American economy, supporting 1.4 million American jobs and investing nearly $80 billion last year.
The top purchasers of clean energy include Fortune 100 and 500 companies, largely comprised of utilities and major tech companies. In 2024, Amazon, Microsoft, Meta, and Google collectively contracted 11.3 GW of clean power—nearly matching the total clean power capacity installed across Florida, the fifth largest clean power state in the U.S., and showcasing the criticality of clean energy to power the growing data center market.
“Clean energy is fueling America’s economy and creating opportunities for American workers and communities all across the country,” said ACP CEO Jason Grumet. “Solar, wind, and battery storage are leading an all of the above energy future powered by affordable, reliable, and secure American resources.”
Key 2024 Highlights
Rapidly Scaling and Deploying:
The clean energy industry invested nearly $80 billion to deploy nearly 49 GW of new clean power infrastructure.
45 new manufacturing projects came online, representing more than $9 billion dollars of investment in domestic manufacturing.
For the first time, wind and utility-scale solar generation exceeded coal output, accounting for nearly 16% of U.S. electricity generation, marking a significant shift in the energy mix.
Total generation in the interconnection queue at the end of 2023 was 2,367 GW, with over 95% represented by wind, solar, and storage.
Meeting the Moment of Rising Demand:
Building new clean power will be essential to meeting additional demand in the near- and medium-term, as clean energy resources are significantly quicker to deploy than traditional sources.
The U.S. will need more than 900 GW of renewables and batteries and 60-100 GW of new gas capacity by 2040 to maintain grid reliability.
Powering the U.S. Economy:
The clean energy industry supports 1.4 million Americans with jobs—460,000 directly and nearly a million more in supply chains and communities.
Clean power companies have invested more than $600 billion over the past two decades, transforming America’s energy infrastructure and boosting local economies in all 50 states.
Power Purchase Agreement (PPA) announcements surged 56%, reflecting strong demand and market confidence.
Discover more about American clean power’s historic year in the data-driven webpage. A public version of the 160-page full report is available, with the full report and underlying datasets available exclusively to ACP members.
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MIL-OSI Economics: Joint study explores feasibility of central bank operations using tokenisation and smart contracts
Source: Bank for International Settlements
The Federal Reserve Bank of New York and the Bank for International Settlements (BIS) today published a joint research study that explored if and how central banks could continue to implement monetary policy operations in hypothetical tokenised wholesale financial markets.
Project Pine, from the New York Innovation Center at the New York Fed and the Swiss Centre of the BIS Innovation Hub found that central banks could customise and deploy policy implementation tools using programmable smart contracts in a potential future state where commercial banks and other private sector financial institutions have widely adopted tokenisation for wholesale payments and securities settlement.
The project generated the prototype of a generic monetary policy implementation tokenised toolkit for potential further research and development by central banks across jurisdictions and currencies. The prototype was designed to be technically modifiable for different central banks’ monetary policy frameworks and calibrated to conduct standard or emergency market operations.
The toolkit prototype was created in consultation with central banks’ financial markets advisors from multiple jurisdictions, who helped outline the project scope and specific design requirements. It is not particular to any currency or jurisdiction. It can fulfil a common set of central bank implementation requirements, including paying interest on reserves, open market operations, and collateral management.
The toolkit was tested against ten hypothetical scenarios simulating normal market dynamics and stress events. Each scenario was designed using historical data inputs on past market events, such as interest rate tightening and easing cycles, quantitative easing and tightening cycles, and periods of strained market liquidity or broader market disruptions.
The prototype successfully responded and instantaneously carried out the intended operation under the varying market conditions, consistent with the central bank’s desired liquidity environment. Project Pine’s findings highlighted areas for further research and analysis related to interoperability and data standardisation. Project Pine aims to contribute to a broad and transparent public dialogue regarding potential applications of new technologies in the financial sector.
BIS Innovation Hub projects are experimental in nature and aim to explore and deliver public goods to the global central banking community. Project Pine was limited to research and experimentation and should not be interpreted to reflect any policies, directives, or views of the Federal Reserve Bank of New York or the Federal Reserve System.
About the New York Innovation Center
The New York Innovation Center (NYIC) at the Federal Reserve Bank of New York bridges the worlds of finance, technology, and innovation. Established in 2021 in partnership with the Bank for International Settlements Innovation Hub, the NYIC generates insights into high-value central bank-related opportunities through research, analysis, and technical experimentation to drive advancements in central banking and enhance the functioning of the global financial system.
About the BIS Innovation Hub
The BIS Innovation Hub aims to foster international collaboration on innovative financial technology within the central banking community. It identifies and develops in-depth insights into critical trends in technology affecting central banking, develops public goods for improving the functioning of the global financial system, and serves as a focal point for a network of central bank innovation experts.
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MIL-OSI Economics: Microsoft as customer zero: Empowering research teams with AI
Source: Microsoft
Headline: Microsoft as customer zero: Empowering research teams with AI
Explore more of Ryen White’s work at Microsoft Research
Learn more
Research has always been an integral part of Microsoft’s identity, driving our role as a global technology leader. Since 1991, Microsoft Research has dedicated itself to a fundamental research approach—advancing knowledge, deepening our understanding of the world, and exploring how technology can empower people and organizations. Through its extensive body of publications and a commitment to openly sharing its work, Microsoft Research continues to collaborate with the global research community to drive breakthroughs in AI and beyond. Together, we are pushing the boundaries of what’s possible to extend human capability, create value for our customers, and deliver broad societal benefit.
Transforming research with AI at Microsoft Research
With Microsoft leading the charge in AI, Microsoft Research teams are at the forefront, using our expertise, fostering thought leadership, and driving innovation in AI and research. AI is at the center of many of Microsoft Research’s pioneering projects, from helping researchers analyze massive datasets within seconds, inventing new AI solutions that would benefit humanity, and collaborating with the global research community through the Accelerating Foundation Models Research (AFMR) program.
Microsoft Research is in a unique position where it can not only adopt and use AI but also invent AI. We have made significant investments in AI, building new AI methods, models, and technologies. To infuse AI more deeply into the research process, an experimental initiative is underway, helping teams move faster, think bigger, and share more effectively. This initiative breaks down into three key strategies: using, infusing, and diffusing AI across the organization.
- Using AI (Tools and Operations) focuses on optimizing access and advancement of AI.
- Infusing AI (Research and Development) is about maximizing the potential of AI to revolutionize research processes.
- Diffusing AI (Connectivity and Information Flow) ensures rapid sharing of AI insights, tools, and learnings with others, both inside and outside of Microsoft Research.
The goal is not just to adopt AI, but to augment and reinvent the way research is done—empowering everyone in the organization to achieve more.
The integration of AI into research processes at Microsoft Research provides valuable insights for researchers and businesses. Using AI can accelerate innovation cycles, improve operational efficiency, and lead to the development of cutting-edge tools and products. These advancements highlight how AI can reinvent traditional workflows, streamline operations, and drive growth and profitability, making it a strategic focus for organizations to implement.
GraphRAG: Advancing research with knowledge graphs
GraphRAG is a modular graph-based retrieval augmented generation (RAG) system that uses large language models to create knowledge graphs from raw text. This technique enhances large language model performance on private datasets by providing structured data and summaries, making it easier for researchers to extract meaningful insights from complex data.
The changes that are happening in AI right now, they really are surprising. The capabilities are expanding so quickly. I think of it as kind of an accelerator. Everything that we do in research, we can do faster, we can ask more questions, and this has all been kind of a warp speed thing.
—Nathan Evans, Principal Software Architect at Microsoft Research
Data Formulator: Transforming data into insights
Exploring how AI can help analysts create rich data visualizations
Read the blog
Data Formulator is an innovative tool designed to help researchers quickly explore and analyze data. By using AI, Data Formulator lets users to create rich visualizations without the need for extensive programming knowledge. This tool combines AI and interactive approaches to communicate visualization intent, making data analysis more accessible and efficient
AI really speeds up our experimentation process. In the past, we really needed to do a lot of hacking over weeks to experiment on designs. But now we can have a high-level thought, we can do the prototype in a short amount of time, and we can start thinking on top of that.
—Chenglong Wang, Senior Researcher at Microsoft Research
Accelerating Foundation Models Research: Democratizing AI research
The Accelerating Foundation Models Research (AFMR) program provides academic researchers with access to state-of-the-art foundation models hosted on Microsoft Azure through Microsoft Azure AI services. This initiative fosters a global AI research network and offers robust, trustworthy models that help further research in disciplines ranging from scientific discovery and education to healthcare, multicultural empowerment, legal work, and design.
The AFMR program works with the broader academic research community to explore different aspects of foundation models to accomplish three goals:
Goal 1: Align AI with shared human goals, values, and preferences
This involves enhancing the safety, robustness, sustainability, responsibility, and transparency of AI models. One notable project aligned to this goal is “ERB Bench: An Entity-Relationship based Automatically Verifiable Hallucination Benchmark for Large Language Models.” For this project, researchers created ERB Bench which helps in evaluating and improving the accuracy and reliability of AI-generated content. This ensures that AI models align with human values and reduces the risk of misinformation.
Goal 2: Improve AI-human interactions
The second goal focuses on improving AI-human interactions by increasing trust, human ingenuity, creativity, and productivity while reducing the risk of developing AI that is harmful for individuals and society. The project “As Generative Models Improve, People Adapt their Prompts” explores how prompting changes as generative AI models improve. Results showed that participants using more advanced models produced better, longer, and more descriptive prompts. This research provides valuable insights into the evolving dynamics between humans and AI, helping to create more intuitive and effective AI systems.
Goal 3: Accelerate scientific discovery
The third goal is to accelerate scientific discovery through proactive knowledge discovery, hypothesis generation, and multimodal data generation. One project that exemplifies this goal explored “Artificial Intelligence–Based Copilots to Generate Causal Evidence.” In this initiative, large language models were explored as causal “copilots” to help identify flaws in medical study designs. These models could assist researchers by providing expert guidance in study design, improving the accuracy of conclusions drawn from the studies.
AI is really important in research because AI has the potential, the huge potential to really accelerate the research, which is needed to address some of the greatest challenges of today and tomorrow.
—Evelyne Viegas, Technical Advisor at Microsoft Research
The next frontier: Looking ahead to the future of AI in research
As scientific research evolves in an era powered by AI and cloud technologies, the opportunities for innovation, collaboration, and global impact are unprecedented. From accelerating scientific discovery to improving human-agent alignment, foundation models are reshaping how research is conducted, shared, and scaled. Looking ahead, researchers and institutions must not only embrace these tools but also build robust frameworks for adoption, and evaluation.
There is still much more for us to explore on how we can advance research at Microsoft and we’re just getting started.
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MIL-OSI Economics: 14 May 2025 Eastern Economic Forum announces main theme of 2025 The main theme of the Eastern Economic Forum (EEF) 2025, which will take place on 3–6 September in Vladivostok, will be ‘The Far East: Cooperation for Peace and Prosperity’. The organizer of the EEF is the Roscongress Foundation.
Source: Eastern Economic Forum
Participant Package
- participation at all business and cultural programme events at the Forum (excluding invitation only events);
- access to EEF 2021 exhibitions;
- access to networking areas at the Forum venue (excluding invitation only event locations).
EUR 3,924 (inc. VAT 20%)*
USD 4,392 (inc. VAT 20%)*STANDARD PACKAGE
- All events on the business programme (except the plenary session and invitation-only events)
- Excludes opportunity to attend the plenary session
- Access to the business networking areas at the Forum venue (except the plenary session area in the run-up to and during the plenary session and invitation-only networking areas)
EUR 2,352 (inc. VAT 20%)*
USD 2,640 (inc. VAT 20%)*If you received an invitation or your application to attend a Roscongress Foundation event in 2020 (Russia House in Davos, Russian Investment Forum, St. Petersburg International Economic Forum) was approved by the relevant Organizing Committee, you can simply submit an application to participate in EEF 2020 through your Roscongress personal account, as your personal account has already been created. For more information, visit the Roscongress personal account section.
Your personal account login and password information, were previously sent to you by the email specified during registration. You can restore access to your account by calling the Forum information centre at: +7 (499) 7000 111.
Start off by accessing the ‘Events’ section of your account. In the ‘Upcoming’ section, select the Eastern Economic Forum from the list of events and then select the ‘Registration’ section. The application will automatically insert the data from your account profile.
Please review the passport data in your participation application carefully. If any of your data has changed since you have registered your account, please update those data points in your participation application. Please complete any empty fields and press the ‘Save’ button.
To edit the data in the general settings of your account, please contact our information centre at: +7 (499) 7000 111.
If you have not submitted an application to attend a Roscongress Foundation event in 2020 (Russia House in Davos, Russian Investment Forum, St. Petersburg International Economic Forum), you must apply through the participation application on the EEF 2020 website. Sometime after you have submitted your application, an email containing your login and password information for your Roscongress personal account will be sent to the email you provided in the application. For more information, visit the Roscongress personal account section.
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MIL-OSI Economics: Quinvexcaptial.com: BaFin warns consumers about Quinvex Capital
Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
The financial supervisory authority BaFin warns offers from Quinvex Capital. According to Their findings, the company, which also operates under the name Quinvex Capital GmbH, offers share recommendations and so-called day trading via various WhatsApp groups using alleged institutional accounts in an app. The unknown operators maintain another website at www.quinvexcapital.net. Contrary to its own claims, Quinvex Capital is not supervised by BaFin. According to the current status of the investigation, there is also no connection with Quinvex Capital, Denver, Colorado, USA.
Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
Please be aware:
BaFin urges caution against stock recommendations in WhatsApp groups.
In the ‘Recognising financial fraud’ section, you will find the latest warnings from BaFin about unauthorised companies and find out how you can protect yourself from further scams on the financial market.
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MIL-OSI Economics: Joint Summary of the Working Visit by H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, to New Zealand
Source: ASEAN – Association of SouthEast Asian Nations
At the invitation of the Government of New Zealand, the Secretary-General of ASEAN, H.E. Dr. Kao Kim Hourn, paid a working visit to Wellington and Auckland, from 11 to 14 May 2025.
During the visit, the Secretary-General engaged with a broad range of New Zealand Government representatives across the four themes of the ASEAN–New Zealand relationship, namely Peace, Prosperity, People and Planet, including the Right Honourable Prime Minister Christopher Luxon, the Right Honourable Deputy Prime Minister and Minister of Foreign Affairs Winston Peters, the Hon Minister of Defence Judith Collins KC, the Hon Erica Stanford Minister of Education, the Hon Minister for Pacific Peoples Dr. Shane Reti, and the Hon Minister of Climate Change Simon Watts.
The Secretary-General also engaged with other Government Officials, the business community, including the ASEAN-New Zealand Business Council, student representatives, academia, think tanks and the media.
Across these engagements, both sides discussed the significance of the enduring partnership between ASEAN and New Zealand over the past five decades. Both sides emphasised the importance of upholding and strengthening ASEAN Centrality in the Indo-Pacific and the rules-based regional architecture, of strengthening the East Asia Summit as the premier Leaders-led strategic forum in the region, and the importance of practical cooperation on the ASEAN Outlook on the Indo-Pacific.
The working visit underscored the significance of 2025 as an important milestone in the ASEAN–New Zealand relationship, marking 50 years of dialogue relations. Both sides look forward to the ASEAN–New Zealand Commemorative Leaders’ Summit in Kuala Lumpur, in October 2025, and welcome progress towards establishing a Comprehensive Strategic Partnership this year, that is substantive, meaningful, and mutually beneficial.
Finally, both sides welcomed the complete implementation of the current ASEAN–New Zealand Plan of Action and looked forward to developing a new 2026–2030 Plan of Action that contributes to the peace, stability and prosperity of our regionThe post Joint Summary of the Working Visit by H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, to New Zealand appeared first on ASEAN Main Portal.
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MIL-OSI Economics: Thales awarded ATC modernization contract in Brazil by CISCEA and installs new radar station at Presidente Prudente airport, reinforcing Brazilian airspace safety and security
Source: Thales Group
Headline: Thales awarded ATC modernization contract in Brazil by CISCEA and installs new radar station at Presidente Prudente airport, reinforcing Brazilian airspace safety and security
- The Commission for the Implementation of the Brazilian Airspace Control System (CISCEA), an entity of the Brazilian Air Force Airspace Control Department (DECEA), awards a modernization contract for 9 Primary and Secondary Surveillance Radars to Omnisys, a Thales company.
- The recent deployment of a co-mounted Primary TRAC NG and Secondary RSM NG radar, at Presidente Prudente airport (São Paulo), marks the 133rd milestone of installed Thales ATC (Air Traffic Control) radars in Brazil, contributing to more than 80% of the country’s airspace security and safety.
- Renowned for outstanding reliability, unmatched performance and the latest in digital innovations, Thales Primary and Secondary radars, play a vital role in air surveillance, maintaining constant awareness of aircraft position at all times.
Co-mounted Primary TRAC NG and Secondary RSM NG radar installed at Presidente Prudente airport Copyright Omnisys, a Thales company” id=”image-4ce97681-063e-4b93-9446-2298ef4b4412″ data-id=”4ce97681-063e-4b93-9446-2298ef4b4412″ data-original=”https://cdn.uc.assets.prezly.com/4ce97681-063e-4b93-9446-2298ef4b4412/-/inline/no/345.jpg” data-mfp-src=”https://cdn.uc.assets.prezly.com/4ce97681-063e-4b93-9446-2298ef4b4412/-/format/auto/” alt=”Co-mounted Primary TRAC NG and Secondary RSM NG radar installed at Presidente Prudente airport Copyright Omnisys, a Thales company”/>Co-mounted Primary TRAC NG and Secondary RSM NG radar installed at Presidente Prudente airport Copyright Omnisys, a Thales company Thales announces the signature of a modernization contract for nine air traffic control radar systems awarded to Omnisys, a Thales company in Brazil and Strategic Defence Company (EED), as well as the delivery of a new radar station at Presidente Prudente (São Paulo State) which represents the milestone of 133 Thales air traffic control radars operating within Brazilian airspace.
The modernization of these nine radars includes upgrades with advanced technology capable of 3D detection of both low- and high-speed targets. It also features integration between Mode S1 and the ADS-B system, enabling greater precision in identifying cooperative and non-cooperative aircrafts. The update includes electronic protection features to ensure effective operation, even in the presence of electromagnetic interference, guaranteeing continuous and reliable surveillance.
Certified by the Brazilian Ministry of Defence, as a Strategic Defence Product (PED) and manufactured at Omnisys headquarters near São Paulo, the new co-mounted Primary TRAC NG and Secondary RSM NG Surveillance Radar is installed at Presidente Prudente airport (São Paulo), and provisioned for future IFF (Identification, Friend or Foe) implementation. The launch of this radar station is part of the broader strategy to keep Brazilian skies increasingly secure.
The radar station will expand air traffic surveillance capabilities, significantly improving safety and operational efficiency at Presidente Prudente Airport — the third busiest airport in the interior of the state of São Paulo.
“This initiative represents a strategic step in renewing Brazil’s radar network, ensuring greater operational reliability and alignment with current air traffic control demands,” says Air Lieutenant Brigadier Maurício Augusto Silveira de Medeiros, General Director of DECEA. “DECEA is proud of the significant operational advancements and efficiency level achieved at the Brazilian airspace control system, recognized as a worldwide reference. Thales, thanks to its cutting-edge solutions and commitment to localization, is a major partner of the Brazilian Air Force. We highly value this partnership and look forward to continued collaboration to further enhance our capabilities.”
“With 133 radars for Air Traffic Control and Management produced and delivered in Brazil, Thales confirms its commitment to deliver the best in technology, contributing to the security of Brazilian airspace. Local production not only reinforces, but also highlights our dedication to innovate in order to meet the specific needs of our customers. The modernization contract is key to maintaining the installed base of radars at the highest level of technology, as well as ensuring high operational reliability. We are committed to developing technology that addresses both current and future challenges of national airspace and security”, adds Eric HUBER, Vice President Surface Radars, Thales.
1a secondary surveillance and communication standard which supports Air Traffic Control (ATC)
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MIL-OSI Economics: Climate stress test for the German banking sector: Impact of the green transition on corporate loan portfolios | Discussion paper 11/2025: Christian Gross, Laura-Chloé Kuntz, Simon Niederauer, Lena Strobel, Joachim Zwanzger
Source: Bundesbank
Non-technical summary
Research question
Climate risks are a priority issue for many central banks and supervisory authorities due to the potentially detrimental effects of climate risks on banks’ stability. However, measuring climate risks is fraught with challenges, because nature and magnitude of the shock transmission are plagued with uncertainty. Moreover, data limitations are widespread, further complicating measurement. This paper proposes a novel stress testing framework to quantify climate-related transition risks for the German banking sector. Our stress test allows the identification of vulnerabilities stemming from transition risks for both individual banks and the banking system as a whole.
Contribution
This paper contributes to the literature by proposing a novel climate risk stress test framework, which allows to quantify climate transition risks for a large sample of German banks. We capture model uncertainty in a unique way by applying two standalone models (a micro and a macro model) for translating stress scenarios into credit risk parameters. Reporting ranges of estimates provides a quantitative indication of uncertainty in relation to the green transition. Another key strength of our framework is the granular modelling of default probabilities (PDs). While traditional stress testing models typically produce country- and/or portfolio-level estimates of scenario-dependent PDs, we can flexibly estimate them at firm- or sector-level. Through our targeted, multi-layered analytical framework, we thus address the heterogeneity of climate risks across economic sectors and firms.
Results
For a scenario that envisages an orderly transition to net zero emissions by 2050, our results show an average increase of up to 40 % in PDs for non-financial corporations after three years. In an alternative scenario assuming an abrupt increase in the carbon price to Euro 200, PDs rise to a similar extent. Our results indicate a great deal of heterogeneity between firms from different economic sectors: PDs increase more strongly in the agriculture, utilities and transport sectors, for example, and the impact on credit risk also differs between firms in the same economic sector. Whilst significantly stronger increases in PDs emerge for emissions-intensive firms, credit risk is not as high for firms with low emissions. Furthermore, we uncover heterogeneity in credit risk effects across banks as a result of bank-specific differences in the composition of loan portfolios.
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MIL-OSI Economics: Survey of market expectations 5-7 May 2025
Source: Central Bank of Iceland
The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 5 through 7 May 2025. A total of 39 agents in the bond market, including banks, pension funds, mutual and investment funds, securities brokers, licensed asset management firms, and insurance firms were invited to participate. Responses were received from 25 market participants, giving a response ratio of 64%.
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MIL-OSI Economics: NTT Anode Energy and Panasonic Complete the Implementation of a Hydrogen Supply Chain Model at the Expo 2025 Site
Source: Panasonic
Headline: NTT Anode Energy and Panasonic Complete the Implementation of a Hydrogen Supply Chain Model at the Expo 2025 Site
The content in this website is accurate at the time of publication but may be subject to change without notice.Please note therefore that these documents may not always contain the most up-to-date information.Please note that German, French and Chinese versions are machine translations, so the quality and accuracy may vary.
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MIL-OSI Economics: Secretary-General of ASEAN attends luncheon hosted by Ministry of Foreign Affairs and Trade of New Zealand
Source: ASEAN
Secretary-General of ASEAN, Dr. Kao Kim Hourn, today attended a luncheon hosted by H.E. Bernadette Cavanagh, Deputy Secretary of the Pacific and Development Group of New Zealand Ministry of Foreign Affairs and Trade of New Zealand, and attended by Pacific Islands Heads of Mission stationed in Wellington. The engagement provided a good opportunity to exchange views on developments in both regions and potential for engagement and collaboration between ASEAN and the Pacific Island countries.
The post Secretary-General of ASEAN attends luncheon hosted by Ministry of Foreign Affairs and Trade of New Zealand appeared first on ASEAN Main Portal.
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MIL-OSI Economics: Secretary-General of ASEAN visits New Zealand Parliament
Source: ASEAN
As part of his Working Visit to New Zealand, Secretary-General of ASEAN, Dr. Kao Kim Hourn, today visited the New Zealand Parliament and observed the Question Time. The visit offered an opportunity to gain a deeper understanding of New Zealand’s parliamentary and governance practices.Credit: New Zealand Parliament TV
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MIL-OSI Economics: Secretary-General of ASEAN engages with Department of the Prime Minister and Cabinet of New Zealand
Source: ASEAN
At the sidelines of his Working Visit to New Zealand, Secretary-General of ASEAN, Dr. Kao Kim Hourn, held a meeting with H.E. Ben King, Chief Executive of the Department of the Prime Minister and Cabinet, and H.E. Taha Macpherson, Deputy Secretary of the Ministry of Foreign Affairs and Trade of New Zealand. The meeting offered a chance to exchange views on regional developments and reaffirmed the importance of ASEAN-New Zealand cooperation and relations.
The post Secretary-General of ASEAN engages with Department of the Prime Minister and Cabinet of New Zealand appeared first on ASEAN Main Portal.
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MIL-OSI Economics: Secretary-General of ASEAN delivers a lecture hosted by New Zealand Institute of International Affairs
Source: ASEAN
In concluding his Working Visit to New Zealand, Secretary-General of ASEAN, Dr. Kao Kim Hourn, delivered a lecture on “ASEAN-New Zealand Partnership for Peace and Prosperity,” in Wellington, on 14 May 2025. The event was organized by the New Zealand Institute of International Affairs together with the Asia New Zealand Foundation. In his remarks, SG Dr. Kao urged ASEAN and New Zealand to remain resolute in championing open trade, rules-based multilateralism, and inclusive regionalism.
The post Secretary-General of ASEAN delivers a lecture hosted by New Zealand Institute of International Affairs appeared first on ASEAN Main Portal.
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MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on May 14, 2025
Source: Reserve Bank of India
Tenor 1-day Notified Amount (in ₹ crore) 25,000 Total amount of bids received (in ₹ crore) 5,341 Amount allotted (in ₹ crore) 5,341 Cut off Rate (%) 6.01 Weighted Average Rate (%) 6.01 Partial Allotment Percentage of bids received at cut off rate (%) NA Ajit Prasad
Deputy General Manager
(Communications)Press Release: 2025-2026/319
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MIL-OSI Economics: Money Market Operations as on May 13, 2025
Source: Reserve Bank of India
(Amount in ₹ crore, Rate in Per cent)
Volume
(One Leg)Weighted
Average RateRange A. Overnight Segment (I+II+III+IV) 5,88,426.72 5.69 0.01-6.85 I. Call Money 16,043.27 5.83 4.90-5.90 II. Triparty Repo 3,72,607.10 5.72 5.00-5.82 III. Market Repo 1,98,108.35 5.61 0.01-6.00 IV. Repo in Corporate Bond 1,668.00 5.94 5.90-6.85 B. Term Segment I. Notice Money** 253.25 5.73 5.50-5.85 II. Term Money@@ 1,158.50 – 5.75-6.10 III. Triparty Repo 5,820.15 5.87 5.75-5.95 IV. Market Repo 0.00 – – V. Repo in Corporate Bond 0.00 – – Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off RateC. 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 Tue, 13/05/2025 1 Wed, 14/05/2025 5,401.00 6.01 (b) Reverse Repo (III) Long Term Operations^ (a) Repo (b) Reverse Repo 3. MSF# Tue, 13/05/2025 1 Wed, 14/05/2025 154.00 6.25 4. SDFΔ# Tue, 13/05/2025 1 Wed, 14/05/2025 1,94,470.00 5.75 5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]* -1,88,915.00 II. Outstanding Operations 1. Fixed Rate 2. Variable Rate& (I) Main Operation (a) Repo Fri, 02/05/2025 14 Fri, 16/05/2025 149.00 6.01 (b) Reverse Repo (II) Fine Tuning Operations (a) Repo (b) Reverse Repo (III) Long Term Operations^ (a) Repo Thu, 17/04/2025 43 Fri, 30/05/2025 25,731.00 6.01 (b) Reverse Repo 3. MSF# 4. SDFΔ# D. Standing Liquidity Facility (SLF) Availed from RBI$ 8,709.21 E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]* 34,589.21 F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]* -1,54,325.79 G. Cash Reserves Position of Scheduled Commercial Banks (i) Cash balances with RBI as on May 13, 2025 9,56,950.79 (ii) Average daily cash reserve requirement for the fortnight ending May 16, 2025 9,41,653.00 H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ May 13, 2025 5,401.00 I. Net durable liquidity [surplus (+)/deficit (-)] as on April 18, 2025 2,02,749.00 @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL). – Not Applicable / No Transaction. ** Relates to uncollateralized transactions of 2 to 14 days tenor. @@ Relates to uncollateralized transactions of 15 days to one year tenor. $ Includes refinance facilities extended by RBI. & As per the Press Release No. 2019-2020/1900 dated February 06, 2020. Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022. * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF. ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015. # As per the Press Release No. 2023-2024/1548 dated December 27, 2023. ^ As per the Press Release No. 2025-2026/91 dated April 11, 2025. Ajit Prasad
Deputy General Manager
(Communications)Press Release: 2025-2026/316 -
MIL-OSI Economics: APEC Officials Propel AI and Demographic Agendas Jeju, Republic of Korea | 14 May 2025 Issued by the APEC Senior Officials’ Meeting Chairing the meeting, Ambassador Seongmee Yoon emphasized Korea’s vision for a forward-looking and action-oriented APEC agenda this year.
Source: APEC – Asia Pacific Economic Cooperation
As global uncertainties mount and long-term challenges reshape the economic landscape, APEC economies gathered in Jeju this week to accelerate collaboration on connectivity, innovation and prosperity.
At their two-day meeting, senior officials advanced region-wide efforts on emerging priorities such as artificial intelligence, demographic transformation and economic integration, building on recent ministerial meetings and stakeholder dialogues.
Chairing the meeting, Ambassador Seongmee Yoon emphasized Korea’s vision for a forward-looking and action-oriented APEC agenda this year.
“Korea’s priorities this year reflect the urgent need to future-proof our economies,” Ambassador Yoon said. “We are advancing innovation not just in technology, but in how we cooperate, how we trade and how we prepare our people for what’s next. We are strengthening connections across borders, across sectors and between generations. And we are pursuing prosperity that benefits all the people in the region.”
“This meeting in Jeju is where we take those ideas and turn them into deliverables,” she added. “As we move toward the APEC Economic Leaders’ Week in Gyeongju, Korea is committed to driving meaningful, cooperative outcomes that benefit the whole APEC region.”
The meeting opened with updates from key stakeholder groups, including the APEC Business Advisory Council, the Senior Finance Officials’ Meeting, the Pacific Economic Cooperation Council and the APEC Study Centers Consortium.
Senior officials reviewed outcomes from recent ministerial meetings on ocean sustainability and human resources development, where ministers underscored the need for resilient labor systems and sustainable marine economies. Ministerial meetings on education and trade will follow on 14 and 15–16 May, respectively.
They also considered the next steps for Korea’s flagship deliverables, including the proposed APEC AI Initiative, which outlines a region-wide approach to harnessing artificial intelligence for inclusive and sustainable growth. The initiative promotes a shared outlook, capacity building and investment in sustainable AI infrastructure.
Additionally, Korea’s proposed Collaborative Framework on Demographic Changes was discussed, aiming to help economies address the implications of declining fertility rate and aging populations.
“APEC’s strength lies in its ability to bring economies together to tackle profound challenges without losing sight of practical outcomes,” said Eduardo Pedrosa, Executive Director of the APEC Secretariat.
“In Jeju, we’re seeing that in action; real collaboration on the future of artificial intelligence, on adapting to demographic transitions and on strengthening economic integration. These are not abstract goals. They’re essential to building a region that is more competitive, more connected and more resilient.”
The Committee on Trade and Investment reported progress on economic integration in the region, trade facilitation and the inclusive growth agenda. Discussions also covered the evolution of APEC’s structural reform priorities, services competitiveness and the transition from informal to formal economies.
Ambassador Yoon encouraged officials to continue building consensus and delivering tangible results ahead of upcoming sectoral ministerial meetings and APEC Economic Leaders’ Week.
“Our work here lays the groundwork for impactful deliverables in Gyeongju,” she concluded. “Let us move forward with clarity, urgency and a commitment to deliver on our vision.”
For more information or media inquiries, please contact:
[email protected] -
MIL-OSI Economics: Samsung Electronics Acquires Leading Global HVAC Solutions Provider FläktGroup
Source: Samsung
Samsung Electronics today announced that it has signed an agreement to acquire all shares of FläktGroup, a leading global HVAC solutions provider, for €1.5 billion from European investment firm Triton. With the global applied HVAC market experiencing rapid growth, the acquisition reinforces Samsung’s commitment to expanding and strengthening its HVAC business.
“Through the acquisition of FläktGroup, an applied HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers,” said TM Roh, Acting Head of the Device eXperience (DX) Division at Samsung Electronics. “Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine.”
FläktGroup, based in Herne, Germany, has over a century of accumulated technological expertise and design capabilities, offering diverse products and solutions tailored to each customer. FläktGroup supplies high-reliability and high-efficiency HVAC systems to a wide range of buildings and facilities, including data centers that require stable cooling, museums and libraries managing sensitive historical artifacts, airports and terminals with high foot traffic, and large hospitals where hygiene, temperature and humidity control are critically important.
In the large-scale data center market globally, FläktGroup has secured high customer satisfaction through its product performance, reliability and service support, achieving substantial revenue growth over the past three years. FläktGroup’s data center solutions include its industry-leading liquid cooling and air cooling products, which have enabled customers to reduce energy consumption, contributing to achieving lower carbon footprint goals.
Last year, FläktGroup won the DCS Cooling Innovation of the Year Award at the DCS Cooling Awards, in recognition of its innovative and advanced technologies.
“We are extremely pleased that FläktGroup has become a part of Samsung Electronics. FläktGroup, as a global top-tier HVAC specialist with over a century of expertise, has been relied on by global large clients for its technological and product innovations,” said Trevor Young, CEO of FläktGroup. “Now, with Samsung Electronics’ global business foundation and investment, we expect to further accelerate our growth.”
In addition to data centers, FläktGroup has secured a diverse portfolio of over 60 large customers, including leading pharmaceutical companies, biotech and food and beverage firms, and gigafactories.
Samsung Investing in HVAC Business as Key Growth Engine
The HVAC industry is expected to continue growing with demand for innovative and energy-efficient solutions that improve air quality and control temperature and humidity to provide comfort and safety. Samsung will continue to invest in the HVAC business and has recently made acquisitions and investments across robotics, medical technology and the consumer audio sectors as part of its commitment to expand into new growth businesses.
According to some market research forecasts, the applied HVAC market is projected to grow from $61 billion in 2024 to $99 billion by 2030, at an annual growth rate of 8%, while the data center cooling market is expected to grow at a faster pace at an annual growth rate of 18%. The data center segment in particular has high entry barriers, requiring global supply experience and the ability to present optimal designs and solutions for customers.
In its acquisition of FläktGroup, Samsung anticipates sustained growth in data center demand due to the proliferation of generative AI, robotics, autonomous driving, XR and other technologies.
In addition, Samsung’s building integration control solution (b.IoT) and FläktGroup’s HVAC control solution (FläktEdge) will offer a full suite of HVAC and building energy control systems, through which the company expects an expansion of its service and maintenance business.
Samsung has been expanding its HVAC business with a focus on ductless systems, which supply general and system air conditioners to residential and commercial buildings. In May 2024, Samsung formed a joint venture with Lennox International Inc. to strengthen its position in the North America HVAC market and added Lennox’s distribution channels to the company’s own sales channels.
The transaction is expected to close within 2025. -
MIL-OSI Economics: Secretary-General of ASEAN Engages with New Zealand Media
Source: ASEAN – Association of SouthEast Asian Nations
Secretary-General of ASEAN, Dr. Kao Kim Hourn, was interviewed by the Asia Media Centre, on the margins of his Working Visit to New Zealand. The interview covered key topics, including the 50th anniversary of ASEAN-New Zealand dialogue relations, among others.
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