NewzIntel.com

Category: Economy

  • MIL-OSI Russia: Beijing’s GRP up 5.5% in H1 2025

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 17 (Xinhua) — Beijing’s gross regional product (GRP) exceeded 2.5 trillion yuan (about 350.2 billion U.S. dollars) in the first half of 2025, up 5.5 percent year on year in constant prices, the Beijing Bureau of Statistics said Thursday.

    In the first six months of this year, the city’s primary sector added value reached 4.57 billion yuan, up 1.5 percent year-on-year, while the secondary sector added value was more than 335.6 billion yuan, up 4.7 percent year-on-year. Meanwhile, Beijing’s tertiary sector added value increased 5.6 percent year-on-year to more than 2.16 trillion yuan, the department’s data showed.

    In January-June 2025, the added value of Beijing’s large industrial enterprises increased by 7 percent year-on-year, 0.2 percentage points higher than in the first quarter of this year. In addition, Beijing saw rapid development of high-tech industries, with the production of lithium-ion batteries, new energy vehicles, and medical instruments, equipment, and apparatus growing rapidly.

    As for the service industry, its added value, as mentioned, increased by 5.6 percent year-on-year. The added value of the information transmission, software, and information technology services industry reached nearly 619.4 billion yuan, up 11.1 percent from the first half of 2024. In addition, the added value of the financial industry increased by 8.1 percent to nearly 436.3 billion yuan.

    Beijing’s average unemployment rate in the first half of the year was 4.1 percent, unchanged from the first quarter of 2025, while per capita disposable income in the Chinese capital reached 45,144 yuan, up 4.8 percent year on year. -0-

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

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    MIL OSI Russia News –

  • MIL-OSI Submissions: Economy – India gains trade momentum amid tariff and global supply chain shakeup, says GlobalData

    Source: GlobalData

    In a rapidly evolving global trade landscape, India stands out with its competitive advantage stemming from relatively lower tariff rates compared to several key trading partners. With a tariff rate of 26%, as of July 2025, which might reduce to below 20% amid speculations of a trade deal with the US, India is positioned to leverage its trade potential, particularly in sectors such as chemicals, electrical machinery, pharmaceuticals, textiles and agricultural goods, says GlobalData, a leading data and analytics company.

    Ramnivas Mundada, Director of Economic Research and Companies at GlobalData, comments: “India’s tariff rate is relatively lower than other countries, including China (30%), Mexico (30%), and the EU (30%). This favorable environment not only presents a unique opportunity for Indian exporters to but also enhances the price competitiveness of Indian goods and encourages foreign investment, fostering innovation and growth. Against this backdrop, GlobalData forecasts an average growth rate of 6.5% from 2025 to 2027, positioning India to become the third-largest economy by 2027.”

    According to NITI Aayog, India can capitalize on 78 product categories (HS 4 codes) for exports to the US, accounting for 52% of its current exports. In the HS 2 code category, India enjoys lower tariffs than competitors in 22 of the top 30 products. This advantage arises from significant tariff hikes on goods from China, Canada, and Mexico. Although India faces slightly higher tariffs in six product categories, there remains a substantial growth potential, particularly in sectors like pharmaceuticals, textiles, and electrical machinery, enhancing India’s export competitiveness.

    Data from the Ministry of Commerce and Industry reveals that India’s exports to the US increased by 23.5% in June 2025 and by 22.2% from April to June 2025 compared to the same period last year. This growth has positioned the US as India’s largest trading partner for the quarter.

    Sector-wise opportunities

    India has a notable comparative advantage in the chemicals and pharmaceuticals sectors. With China facing increased tariffs, Indian exporters have a prime opportunity to capture the US chemical import market.

    India accounted for about 5% of the US apparel and clothing accessories imports in 2024, according to the ITC Trade Map. With new tariffs affecting Bangladesh, Cambodia, and Indonesia, Indian manufacturers have a significant opportunity. To achieve this, improvements in cost efficiency, lead times, and support for large-scale textile manufacturers will be essential.

    The tariff hikes on Asian countries create an opportunity for India to boost its agricultural exports to the US. With relatively lower tariffs, India can position itself as a viable alternative supplier of a range of products, including agricultural goods, livestock, processed foods, and scrap materials.

    Companies shifting operations to India

    In the first half of 2025, several multinational companies have begun shifting their manufacturing bases to India to capitalize on tariff advantages and reduce reliance on China. Notably, Apple rerouted 97% of Foxconn’s Indian iPhone exports to the US during March to May 2025, up from 50.3% in 2024, reflecting a strategic pivot amid US-China trade tensions. Similarly, in July 2025, Samsung Electronics announced plans to diversify smartphone production by moving some manufacturing from Vietnam to India.

    India’s trade competitiveness

    To capitalize on the evolving trade dynamics, India must extend Production-Linked Incentive schemes to labor-intensive sectors like leather and handicrafts, while rationalizing electricity tariffs to enhance competitiveness. Additionally, pursuing a services-centric trade agreement with the US is essential, focusing on IT, finance, and digital trade. Addressing non-tariff barriers in sectors like pharmaceuticals is also crucial for unlocking export potential.

    In June 2025, India urged the WTO to address non-tariff barriers impacting its merchandise exports, highlighting issues like opaque regulations and delays in dispute resolution that hinder competitiveness for Indian exporters, particularly MSMEs.

    Mundada concludes: “Even if India’s anticipated trade deal with the US falls short of expectations, the broader shifts in global tariffs present a strategic opportunity for India to reposition itself as a key export partner. With its resilience and sectoral strengths, India is well-equipped to diversify its export base. By implementing supportive trade and industrial policies, India can transform global tariff challenges into significant economic advantages. As the world navigates these changing trade landscapes, India’s potential as a competitive exporter remains bright, promising growth and resilience in the face of adversity.”

    MIL OSI – Submitted News –

  • MIL-OSI Asia-Pac: Unemployment and underemployment statistics for April – June 2025

    Source: Hong Kong Government special administrative region

    Unemployment and underemployment statistics for April – June 2025 
    Comparing April – June 2025 with March – May 2025, movements in the unemployment rate (not seasonally adjusted) in different industry sectors varied. Decreases were mainly seen in arts, entertainment and recreation sector; and professional and business services sector (excluding cleaning and similar activities) while increases were mainly seen in construction sector and food and beverage service activities sector. Movements in the underemployment rate in different industry sectors also varied, but the magnitudes were generally not large.
     
    Total employment decreased by around 7 400 from 3 664 700 in March – May 2025 to 3 657 300 in April – June 2025. Over the same period, the labour force also decreased by around 7 000 from 3 800 500 to 3 793 500.
     
    The number of unemployed persons (not seasonally adjusted) in April – June 2025 was 136 200, about the same as that in March – May 2025 (135 800). The number of underemployed persons decreased by around 1 000 from 53 600 in March – May 2025 to 52 600 in April – June 2025.
     
    Commentary
     
    The Secretary for Labour and Welfare, Mr Chris Sun, said, “While the unemployment and underemployment rates in April – June 2025 remained the same as those of the preceding three-month period, various industries in Hong Kong are undergoing transition and their respective unemployment rates have different trends.” Looking ahead, he said, “The trend of unemployment rate will hinge on the overall economic performance. The entry of fresh graduates and school leavers during the summer may impact the overall employment situation. Nevertheless, the continued expansion of the Hong Kong economy should provide support to the labour market.”
     
    Further information
     
    The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
     
    In the survey, the definitions used in measuring unemployment and underemployment follow closely those recommended by the International Labour Organization. The employed population covers all employers, self-employed persons, employees (including full-time, part-time, casual workers, etc.) and unpaid family workers. Unemployed persons by industry (or occupation) are classified according to their previous industry (or occupation).
     
    The survey for April – June 2025 covered a sample of some 26 000 households or 68 000 persons, selected in accordance with a scientifically designed sampling scheme to represent the population of Hong Kong. Labour force statistics compiled from this sample represented the situation in the moving three-month period of April to June 2025.
     
    Data on labour force characteristics were obtained from the survey by interviewing each member aged 15 or over in the sampled households.
     
    Statistical tables on the latest labour force statistics can be downloaded at the website of the C&SD (www.censtatd.gov.hk/en/scode200.html 
    For enquiries about labour force statistics, please contact the General Household Survey Section (3) of the C&SD (Tel: 2887 5508 or email:     ghs@censtatd.gov.hkIssued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Civil Society Covenant: AllChild and Better Society Capital

    Source: United Kingdom – Executive Government & Departments

    Case study

    Civil Society Covenant: AllChild and Better Society Capital

    Flexible commissioning for impactful early action.

    AllChild is a charity created to harness community resources to work with schools, local authorities, philanthropists, government and the voluntary and community sector to improve life chances for the 20% of children most at risk of poor outcomes. The programme is an intensive two year package of support tailored to each child’s unique strengths, needs and aspirations.

    Funding model

    In terms of its funding model, AllChild is supported by outcomes-based commissioning, which sees social investors such as Better Society Capital channel money through fund managers to provide working capital for the organisation. The commissioner, in this case local government, only pays out once target outcomes are achieved, such as improved wellbeing for children. This funding model reduces the financial risk on public bodies, thereby encouraging investment in innovative and flexible programmes. 

    Outcomes

    Outcomes-based contracts provide flexibility and sustainability for social sector organisations, enabling them to create partnerships with stakeholders including the local public sector, philanthropists and investors, while delivering tailored, impactful services.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: RSH highlights the importance of landlords understanding tenants’ homes

    Source: United Kingdom – Executive Government & Departments

    Press release

    RSH highlights the importance of landlords understanding tenants’ homes

    RSH’s standards require landlords to have a strong understanding of stock condition.

    A new report from the Regulator of Social Housing (RSH) sets out the importance of social landlords understanding the condition of tenants’ homes. The report concludes that this is essential for keeping tenants safe and underpins effective long-term investment planning.  

    RSH’s standards require landlords to have a strong understanding of stock condition. Through its regulatory activity, including inspections, RSH has found that landlords who demonstrated a stronger approach had some or all of the following features:  

    • Having up to date stock condition survey coverage of their homes, which they use to respond quickly to rectify hazards and Decent Homes Standard failures. 

    • Using stock condition data to build a strategic approach to investment and provide better value for money, by proactively addressing potential issues through planned major repairs, rather than fixing issues responsively. 

    • Demonstrating effective data management processes, by triangulating data from a range of sources to inform long-term financial planning and stress test business plans.    

    • Having effective governance processes and oversight, with clear reporting to boards or councillors.  

    • Using suitably skilled and accredited surveyors to carry out the work.  

    Almost all the C3 and C4 judgements that RSH has published since April 2024 related at least in part to the landlord failing to meet the Safety and Quality standard. In nearly three quarters of these cases, the issues included low stock condition survey coverage or a failure to demonstrate an understanding of tenants’ homes. Weaknesses in data quality has also been an important theme in governance downgrades, where some landlords have failed to use data to support key decisions including long-term investment planning. 

    Boards and councillors must ensure their organisation has an accurate, up-to-date and evidenced understanding of stock condition. This enables the provision of good quality homes and supports the strategic planning of major repairs programmes.  

    RSH will continue to use a range of regulatory tools to ensure landlords deliver the outcomes of its standards.  

    Kate Dodsworth, Chief of Regulatory Engagement at RSH, said:   

    Many social landlords are putting significant time and resources into understanding and improving the quality of tenants’ homes. This is a crucial requirement of our standards and underpins good governance, sound financial decision making, delivering value for money, and providing good quality homes and services for tenants.  

    Having a strong understanding of tenants’ homes enables landlords to provide more and better homes for people who need them. All landlords should read this report and use the findings to improve their approach.

    Most landlords continue to improve stock condition survey coverage. The average landlord reported surveying 75% of homes in the last five years (as of 31 March 2024), compared with 68% reported as of March 2023. 

    The vast majority (87%) of housing associations reported that they had undertaken a stock condition survey within 2023/24. These landlords reported physically inspecting over half a million homes in their most recent survey – equivalent to 20% of the total homes they own. 

    Notes to Editors

    1. In April 2024 RSH introduced new consumer standards for all social landlords, as well as a programme of inspections for large landlords (those with 1,000 homes or more).  

    2. RSH gathers a range of information from landlords beyond its inspections. This includes the annual Statistical Data Return (which requires landlords to report on stock condition survey coverage and homes that do not meet the Decent Homes Standard). Landlords are also required to produce and publish Tenant Satisfaction Measures which include questions about stock quality.  

    3. All social landlords must deliver the requirements of the Safety and Quality Standard. This includes the following required outcomes:  

    • Registered providers must have an accurate, up to date and evidenced understanding of the condition of their homes that reliably informs their provision of good quality, well maintained and safe homes for tenants.   

    • Registered providers must ensure that tenants’ homes meet the standard set out in section five of the Government’s Decent Homes Guidance and continue to maintain their homes to at least this standard unless exempted by the regulator.  

    • Registered providers must have an accurate record at an individual property level of the condition of their homes, based on a physical assessment of all homes and keep this up to date.

    For general enquiries email enquiries@rsh.gov.uk. For media enquiries please see our Media Enquiries page.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New action to tackle unpaid internships as Government seeks to protect younger workers

    Source: United Kingdom – Executive Government & Departments

    Press release

    New action to tackle unpaid internships as Government seeks to protect younger workers

    Call for Evidence launched into unpaid internships as some employers fail to pay young workers despite ban.

    • Evidence will be collected to better protect younger workers from being exploited by illegal unpaid internships. 

    • Tackling this issue would put money back into the pockets of interns across the UK. 

    • This delivers on a commitment to stop employers flouting the rules around unpaid internships, ensuring fair career pathways are accessible to all, breaking down barriers to opportunity as part of the Plan for Change. 

    Younger workers will be protected from employers flouting the rules on the use exploitative unpaid internships, as government takes a step closer on delivering its manifesto commitment to ban the practice. 

    Today (Thursday 17 July) the government has launched its call for evidence on the issue. This forms part of the Make Work Pay agenda, the biggest upgrade to worker’s rights in a generation which will directly benefit over 15 million workers – half of all workers in the UK.  

    Internships offer young people invaluable experience as they build their careers. When these are unpaid or paid below the National Minimum Wage, barriers to equal opportunity are created based on where people live, how old they are, or their social background.  

    Unpaid internships are already largely banned under current law, when they are not part of an educational or training course. The government is committed to strengthening these protections by gathering more evidence on how unpaid internships affect young people, and how businesses use them to assess candidates.  

    Business Secretary Jonathan Reynolds said: 

    Every young person deserves the chance to build their career through quality work experience, but good employers are still being undercut by those exploiting interns by illegally asking them to work for free. 

    Our Plan for Change seeks to break down barriers to opportunity, which is why we will strengthen protections for younger workers so that internships are accessible to everyone, ensuring they have the foundations to build a strong and successful career.

    Employment Rights Minister Justin Madders said:  

    Internships provide a strong platform from which to build a career, allowing young people to learn new skills and giving employers a pipeline of future talent to hire from to grow their business. 

    Employers should not be taking advantage of the opportunities on offer by not paying their interns. This move will help us crack down on those not following the rules, so that the next generation of interns are able to gain that crucial experience whilst earning a fair wage.

    Nick Harrison, CEO of the Sutton Trust, said:

    Taking action on internships with low or no pay is absolutely the right thing to do. We’ve found that 61% of internships undertaken by recent graduates were ‘unpaid or underpaid’, effectively excluding those who can’t rely on financial support from family.  

    Employers will benefit from the wider pool of talent available to them, and three quarters of employers told us a ban wouldn’t impact the number of opportunities they provide. Today’s announcement marks a significant step in the right direction.

    The Call for Evidence will run for [12 weeks, closing on 9 October 2025]. 

    NOTES TO EDITORS: 

    • The Sutton Trust’s report, Unpaid and underpaid internships, was published on 23rd January 2025.  

    • The Sutton Trust surveyed 1,232 recent graduates (aged between 21 and 29) were surveyed between 10 and 11 December 2024 via Public First. 623 recent graduates reported completing at least one internship. All results are weighted using Iterative Proportional Fitting, or ‘Raking’. The results are weighted by age, gender and region to census data proportions. 

    • For the Sutton Trust’s report, employers were surveyed with a sample of 1,009 senior HR decision makers at businesses across Great Britain. Fieldwork was conducted online, between 10 and 18 December 2024, via YouGov, with quotas set by business size targeting 50% in small (10 to 49 employees), 25% in medium (50 to 249 employees) and 25% in large (250+ employees) businesses, to give statistically robust data.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Civil Society Covenant: Cambridge City Council

    Source: United Kingdom – Government Statements

    Case study

    Civil Society Covenant: Cambridge City Council

    Building shared goals and alignment with the Community Wealth Building strategy.

    Cambridge City Council has had an anti-poverty strategy since 2014 designed to tackle poverty and inequality. Over the past ten years the council’s approach has evolved. The council recognised that to truly tackle the long-term deep rooted causes of poverty, they needed to implement a shared approach that combines “council leadership and collaborative working with local communities and a range of local partners and key stakeholders to maximise our collective impact”. This resulted in the development of a Community Wealth Building (CWB) strategy, adopted in 2024. 

    CWB approach

    The CWB approach aims to tackle the causes of poverty by working holistically across sectors towards a shared vision and goal with all stakeholders; through combining the assets, statutory responsibilities and convening role of the council with the services, approaches and relationships that the community, voluntary, business, and public sectors are able to deliver. Key themes underline the Council’s CWB approach, including:

    • ensuring that a joint, holistic approach to tackle poverty is always at the centre of future programme and projects; working across organisations and sectors in order to create solutions

    • how the council can explore opportunities to use its leadership and assets to generate wealth back into the community, including social value from contracts and better use of council buildings and land

    • working with the local private sector to support a sustainable and inclusive local economy

    Shaping Abbey project

    The new principles of the CWB strategy are exemplified by the Shaping Abbey project. Shaping Abbey brings together local residents, civil society and private sector partners, alongside council and UK Government backed investment of £100 million to redevelop parts of Abbey Ward in the northeast of Cambridge. Here, residents and community groups have been integral to shaping the future of Abbey Ward, and have been involved in Shaping Abbey conversations, where community voices have been central to the area’s development. A related Focus on Abbey programme, provides funding for locally focused community projects. 

    Outcomes

    Through their Community Wealth Building strategy, Cambridge City Council developed a new partnership approach with local civil society organisations, and wider local stakeholders, based on a shared vision to tackle poverty across the city.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Civil Society Covenant: Calderdale Council

    Source: United Kingdom – Government Statements

    Case study

    Civil Society Covenant: Calderdale Council

    Recognising VCSE value for a flourishing future.

    Calderdale Council’s VCSE strategy 2024 to 2029 recognises the vital role of the Voluntary, Community, and Social Enterprise (VCSE) sector in Calderdale, valuing it as a key partner in achieving the local vision to be an enterprising place, full of opportunity, where everyone can live a larger life. 

    VCSE value and expertise

    At the time of its creation, VCSE groups were facing reduced public sector funding, rising costs, and growing demand for services. Staff shortages, lower pay, and fewer volunteers added to the pressure. Central to its development and implementation has been Calderdale Council’s recognition of the inherent value and expertise of the VCSE sector. 

    Co-produced with VCSE representatives, the strategy acknowledges the diverse and complex nature of the VCSE sector and its significant impact on Calderdale residents and communities. It recognises the sector’s contribution to society as well as to the local economy. Research by Durham University in 2023 reported that the total value of the VCSE in Calderdale was valued around £549.5 million. This figure includes sector expenditure, the value produced by regular volunteers, and value created for users of services.

    Outcomes

    Calderdale Council has embedded the recognition of the VCSE’s role in multiple other strategies in the borough. A key example is the Inclusive Economy Strategy, which sees a thriving VCSE sector as fundamental to achieving an inclusive economy. In Calderdale, the VCSE is a key part of the local economy, with the sector employing over 5,000 people, and supporting 13,000 as volunteers. As part of the Inclusive Economy Strategy, Calderdale will look to explore more career pathways for young people in the local VCSE sector, providing young people more opportunities to stay in Calderdale, with access to good quality work.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Civil Society Covenant: Leeds City Council

    Source: United Kingdom – Government Statements

    Case study

    Civil Society Covenant: Leeds City Council

    Building effective partnerships through proactive communication and engagement.

    Leeds City Council builds strong partnerships with civil society through consistent, proactive communication and engagement. At the heart of this is the Third Sector Partnership, a strategic forum bringing together senior leaders from the Council, NHS, universities, Combined Authority, Third Sector Leeds, and other civil society representatives. This platform enables early, open dialogue on key citywide issues, to support a resilient and thriving civil society sector that continues to deliver positive outcomes for Leeds residents.

    The Partnership meets bi-monthly with co-produced agendas and shares regular updates. This includes an annual overview of the council’s financial position, proposed budget, and key risks. These insights help manage expectations and inform civil society’s messaging. In addition, bi-annual breakfast meetings bring together civil society and council leaders to align on lobbying strategies and maximise social impact.

    These regular engagement opportunities have helped build trust, embed civil society perspectives into strategy development, and support transparent, two-way communication. It also strengthens collaboration, helping ensure decisions stay closely aligned with community needs.

    Consistent and proactive communication is supported through the provision of defined spaces for regular engagement between partners, alongside transparency in decision-making. This is important for building effective and trusted partnerships.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI China: US to impose uniform tariff rate on over 150 economies: Trump

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

    U.S. President Donald Trump on Wednesday unveiled a plan to impose a unified tariff rate on more than 150 countries and regions, according to a report by Politico.

    “It’s all going to be the same for everyone, for that group,” Trump told reporters during talks with Bahrain’s Crown Prince Salman bin Hamad Al Khalifa at the White House.

    Those to be covered under the new measure are described by Trump as “not big,” and ones that “don’t do that much business.”

    In April, the Trump administration introduced a baseline tariff of 10 percent on economies not covered by bilateral deals. Although Trump has previously suggested the new baseline could be raised to 15 percent or 20 percent, he did not specify a new rate on Wednesday.

    The U.S. government has already sent letters to about two dozen economies — including the European Union, Japan and South Korea — outlining the tariff rates they will face starting Aug. 1, the report said. The announcement has prompted intensified negotiations as affected trading partners seek more favorable terms.

    However, analysts and observers continue to express doubts about whether the new tariff schedule will take effect as planned on Aug. 1, amid concerns about its potential impact on the U.S. economy and domestic politics, according to the report.

    Countries and regions such as Switzerland and India, which accounted for more than 3 percent of the U.S. trade deficit in 2024 but have not yet received official notices, remain in negotiation with Washington.

    Trump sent mixed messages Wednesday on U.S.-India trade talks, first stating “we have another (deal) coming up,” then later asserting “we’re very close to a deal.”

    Regarding Japan, Trump said negotiations are underway but expressed doubt about the outcome.

    “I think we’ll probably live by the letter with Japan,” he said, referring to a previously issued tariff notification.

    MIL OSI China News –

  • PM to visit Bihar and West Bengal; inaugurate key infrastructure projects

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi will visit Bihar and West Bengal on Friday to launch a series of development projects worth over ₹12,000 crore, aimed at strengthening infrastructure, connectivity, and socio-economic growth in the two states.

    PM in Bihar

    Prime Minister will lay the foundation stone, inaugurate and dedicate to the nation development projects catering to Rail, Road, Rural Development, Fisheries, Electronics and Information Technology sectors.

    In line with his commitment to boost connectivity and infrastructure, Prime Minister will dedicate to the nation multiple rail projects. It includes automatic signalling between Samastipur-Bachhwara rail line that will enable efficient train operations in this section. Doubling of Darbhanga-Thalwara and Samastipur-Rambhadrapur rail line part of Darbhanga-Samastipur doubling project worth over Rs 580 crore that will enhance the capacity of train operations and reduce delays.

    The Prime Minister will also lay the foundation stone for multiple rail projects. These include the development of infrastructure for the maintenance of Vande Bharat trains at Patliputra, and the installation of automatic signalling on the 114 km Bhatni–Chhapra Gramin rail line to enable streamlined train operations. The upgradation of the traction system in the Bhatni–Chhapra Gramin section will allow higher train speeds by strengthening traction infrastructure and optimising energy efficiency. Additionally, the Darbhanga–Narkatiaganj rail line doubling project, worth around ₹4,080 crore, will increase sectional capacity, enable the operation of more passenger and freight trains, and strengthen connectivity between North Bihar and the rest of the country.

    Furthering road connectivity in the region, Prime Minister Modi will lay the foundation stone for the four-laning of the Ara bypass of NH-319 and inaugurate the Parariya to Mohania section of NH-319. This corridor, which connects Ara Town to the Golden Quadrilateral, is expected to enhance both passenger and freight transport. He will also inaugurate a two-lane paved shoulder road from Sarwan to Chakai under NH-333C, which serves as a vital link between Bihar and Jharkhand.

    In the digital infrastructure sector, the Prime Minister will inaugurate a new Software Technology Parks of India (STPI) facility in Darbhanga and a state-of-the-art incubation centre in Patna. These facilities are designed to support the growth of the IT and startup ecosystem in Bihar, promoting software exports and fostering innovation and entrepreneurship.

    Under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), several fisheries development projects will also be inaugurated. These projects include the setting up of hatcheries, biofloc units, ornamental fish farming units, and integrated aquaculture infrastructure. The new projects are expected to generate employment and uplift the rural economy through increased fish production and entrepreneurship.

    In line with the vision for a modern and accessible railway network, the Prime Minister will flag off four new Amrit Bharat trains connecting key cities such as Patna, Motihari, Darbhanga, and Malda Town with major destinations like New Delhi and Lucknow, enhancing regional and interstate rail connectivity.

    Further, the Prime Minister will release ₹400 crore to approximately 61,500 Self-Help Groups (SHGs) in Bihar under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM). He will also hand over keys to beneficiaries under the Pradhan Mantri Awaas Yojana-Gramin as part of a Griha Pravesh event for 12,000 families, and release over ₹160 crore to 40,000 beneficiaries of the scheme.

    PM in West Bengal

    Later in the day, around 3 PM, the Prime Minister will visit Durgapur in West Bengal, where he will launch and dedicate several development projects in Oil and Gas, Power, Road, and Rail sectors, cumulatively worth over ₹5,000 crore.

    In a major push to energy infrastructure, he will lay the foundation stone for the Bharat Petroleum Corporation Limited (BPCL) City Gas Distribution project in Bankura and Purulia districts. The ₹1,950 crore project aims to provide piped natural gas to households and CNG for vehicles, boosting employment and supporting clean energy usage.

    He will also dedicate the 132-km Durgapur to Kolkata section of the Durgapur-Haldia Natural Gas Pipeline to the nation. This segment, worth over ₹1,190 crore, is part of the Pradhan Mantri Urja Ganga project and will facilitate the supply of natural gas across multiple districts including Purba Bardhaman, Hooghly, and Nadia.

    In keeping with the focus on clean energy, the Prime Minister will inaugurate Flue Gas Desulphurization (FGD) systems at Durgapur Steel Thermal Power Station and Raghunathpur Thermal Power Station under the Damodar Valley Corporation. These pollution control systems, worth over ₹1,457 crore, are expected to improve air quality and support sustainable power generation in the region.

    Rail infrastructure in West Bengal will also see enhancement with the inauguration of the doubling of the Purulia-Kotshila rail line, a 36-km stretch worth over ₹390 crore. The project will boost industrial connectivity from Jamshedpur, Bokaro, and Dhanbad to Ranchi and Kolkata, improving logistics and reducing transit time.

    The Prime Minister will also inaugurate two road overbridges at Topsi and Pandabeshwar in Paschim Bardhaman, constructed under the Setu Bharatam programme at a cost of over ₹380 crore. These bridges are expected to ease traffic flow and reduce accidents at railway level crossings.

  • MIL-OSI Africa: Positioning Youth at the Forefront of Africa’s Energy Future: African Energy Chamber (AEC) Endorses Youth in Oil & Gas Summit 2025

    Source: APO


    .

    With first oil production on the horizon in Namibia, the country is on track for rapid growth across its oil, gas and broader energy sectors. This highlights a strategic opportunity for the country’s youth, and the upcoming Youth in Oil & Gas Summit – taking place July 25-26, 2025, in Walvis Bay – seeks to position young professionals at the forefront of Namibia’s energy development.

    Held under the theme Drilling into the Future: Empowering Youth in Namibia’s Oil & Gas Revolution, the second edition of the Youth in Oil & Gas Summit represents a vital platform for advancing youth-led innovation and inclusion. Offering a vibrant platform for dialogue, education and strategic collaboration, the summit provides an opportunity for meaningful engagement between youth and energy leaders, thereby positioning youth at the helm of Namibia’s energy future. The African Energy Chamber (AEC) – representing the voice of the African energy sector – offers its full support and endorsement of the upcoming summit. As a strong advocate for the role youth play in the oil and gas sector, the AEC considers this a vital platform for enhancing collaboration, fostering dialogue and advancing projects.

    The Youth in Oil & Gas Summit comes at a critical time for Namibia’s oil and gas industry. Having emerged as one of the world’s most promising frontiers, the country has witnessed a series of exploration success across its offshore market in recent years. The country is on track for first oil production by 2029, led by the TotalEnergies-operated Venus field, which anticipates a final investment decision in 2026. Other projects such as the Galp-led Mopane development are also driving this production timeline. The company has made a string of discoveries at its exploration wells at the Mopane field – situated in PEL 93 -, with the latest made in February 2025. These discoveries have revealed the potential of over 10 billion barrels of oil.

    Additional exploration campaigns in the Orange basin include in PEL 85, where energy company Rhino Resources is exploring. Energy services firm Halliburton announced the delivery of two exploration wells at Block 2914 in PEL 85 in May 2025. This follows a discovery made by Rhino Resources at the Capricornus-1X well in April 2025 and the confirmation of a hydrocarbon reservoir at the Sagittarius-1X well in February 2025. Other players such as Stamper Oil & Gas Corp and Pancontinental are also pursuing exploration projects, with interests in the Orange basin’s Block 2712A and PEL 87, respectively.

    Beyond the Orange basin, Stamper Oil & Gas Corp secured stakes in Block 2914B in the Lüderitz Basin in 2025, as well as Blocks 2213, Block 2011B and Block 2111A in the Walvis Basin. The Lüderitz asset is situated in the southern part of the basin, with drilling expected to start in 2025. Energy major Chevron also acquired an 80% operating stake in Blocks 2112B and 2212A in the Walvis Basin, highlighting the level of global interest in Namibian assets. The country is also accelerating the development of the Kudu gas field – spearheaded by BW Energy. The field is situated in PEL 003 and, following completion, will be a key gas-to-power project in Namibia, utilizing a floating production unit to harness gas resources from the Kudu prospect. An appraisal well is set to be spud in late 2025, targeting the Kharaas Prospect in the north-west section of the Kudu formation.

    Namibia is also making a strong play for onshore exploration, with campaigns led by energy company ReconAfrica. With stakes in the onshore Kavango basin, ReconAfrica is advancing its 2024 drilling campaign, targeting 3.4 billion barrels of recoverable oil in the Damara Fold Belt. Preparations are underway to spud a second exploration well. The company has since raised C$18 million to finance exploration activities, including drilling the Kavango West 1X well. The well targets 346 million barrels of gross unrisked prospective crude oil and 1,839 billion cubic feet of natural gas. Drilling is set to commence after rig mobilization – planned for June/July 2025, pending final permits. These exploration campaigns have not only unlocked opportunities for domestic oil and gas production, but highlighted the level of commercial opportunity available in Namibia’s oil and gas sector.

    Beyond upstream, the country is also aligning investments with broader goals of enhancing fuel security through modernized infrastructure. Notably, Nigeria’s Dangote Refinery is expected to construct a 1.6-million-barrel fuel storage facility in Namibia. A tripartite agreement was also signed between the Namibian ports Authority and the respective national oil companies of Angola and Namibia to establish an integrated logistics base in Namibia. These introduce strategic opportunities for youth across the entire oil and gas value chain and the upcoming Youth in Oil & Gas Summit will outline opportunities, challenges and potential collaborations.

    “This is our opportunity to promote youth and encourage them to be drivers of the future. Namibia is on track for rapid growth across its oil and gas, but without youth, it will fail to unlock the full potential of the sector. This is the time to establish mechanisms that encourage participation, foster inclusion and place collaboration at the forefront of development,” states NJ Ayuk, Executive Chairman of the AEC.

    Distributed by APO Group on behalf of African Energy Chamber.

    MIL OSI Africa –

  • MIL-OSI Africa: Network International and Blu Penguin collaborate to enable mobile money transactions in Ghana

    Source: APO

    Network International (Network) (https://www.Network.ae/), a leading enabler of digital commerce across the Middle East and Africa, has announced a collaboration with Blu Penguin, a Ghana-based fintech and mobile money aggregator, to provide mobile money transactions via Network’s N-Genius™ payment terminals. This collaboration marks a significant milestone in expanding financial inclusion and driving payment innovation across Ghana and the broader West African region.

    Through this collaboration, Network’s clients in Ghana can now process mobile money payments from all providers using their current N-Genius point-of-sale terminals. This development strengthens Network’s role as a third-party payment processor (TPP), broadening its service offerings and demonstrating its commitment to adapting to evolving market needs.

    Chinwe Uzoho, Regional Managing Director, Western Africa – Processing at Network International, stated, “This partnership with Blu Penguin reinforces our commitment to advancing digital commerce and financial inclusion. By integrating mobile money transaction capabilities into our N-Genius terminals, we are providing a seamless payment experience that caters to the needs of both banked and unbanked individuals, helping businesses and financial institutions offer greater transaction flexibility.”

    Sebastian Yalley, Managing Director, Ghana – Processing at Network International, added: “This collaboration represents a significant advancement for Ghana’s payments landscape. It enhances our service offerings for banks by combining the strong mobile money processing capabilities of Blu Penguin with our industry-leading card infrastructure to provide a unified app for merchants to deliver secure, accessible, and convenient payment capabilities.”

    Through this collaboration, Blu Penguin will integrate its technology with Network International’s acquiring infrastructure, ensuring a secure and efficient backend for processing mobile money transactions across major telecom networks. With operations in Ghana, Côte d’Ivoire, and DRC Congo, Blu Penguin’s mobile-first strategy streamlines transactions, making digital payments more accessible to millions of consumers across the region.

    Tenu Awoonor, Founder of Blu Penguin, commented, “This collaboration goes beyond technology integration; it is a strategic effort to improve payment accessibility and convenience for merchants in Africa. By partnering with Network International, we are equipping banks and merchants with the ability to offer multiple payment options in a single app, making transactions more seamless. We get to leverage our respective strengths in a collaborative effort with financial institutions to drive faster adoption and usage of digital payments to support greater financial inclusion in Africa.”

    The initial phase of the partnership has commenced, and plans are to enable this feature across all financial institutions using Network International’s N-Genius™ terminals in Ghana and ultimately Sub-Sahara Africa.

    Distributed by APO Group on behalf of Network International.

    About Network International:
    Network International is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,500+ employees based in our markets serving over 250 financial institutions and 196,000+ merchants. 

    About The Blu Penguin:
    The Blu Penguin Company Limited is a licensed pan-African fintech firm committed to providing digital payment solutions that cater to the diverse evolving needs of small, medium and large sized enterprises. With a vision to drive financial inclusion in Africa, we provide a comprehensive suite of services designed to enhance and simplify both in-store and online payment collection for merchants. We serve banks, telecom companies, merchants and governments to offer payment services to millions of customers every day.

    Media files

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    MIL OSI Africa –

  • MIL-OSI Africa: Government commits over R1 trillion to infrastructure investment

    Source: Government of South Africa

    Government is following through on its commitment to invest more than R1 trillion in infrastructure over the next three years to renew the country’s roads, port, rail, energy and water systems.

    This is according to President Cyril Ramaphosa who presented The Presidency Budget Vote for the 2025/2026 financial year in the National Assembly in Parliament on Wednesday. 

    The Budget Vote focused on the 7th administration’s three strategic priorities, including promoting inclusive growth, job creation, tackling poverty and the high cost of living, and building a capable, ethical, and developmental state. 

    “South Africans benefit when the economy grows, when jobs are created, when established industries expand and new industries emerge,” the President said. 

    The President emphasised that government is hard at work to boost infrastructure investment to ensure that infrastructure development becomes the “true flywheel of economic growth.” 

    Through the Infrastructure Fund, he said government is investing in the roads that link communities to economic centres and the water projects that supply expanding cities and towns. 

    “We have amended the regulations for Public Private Partnerships to make it easier for the private sector to invest in infrastructure ranging from renewable energy generation to housing. 

    “This infrastructure has a direct impact on people’s lives, providing the services they need, reducing the cost of living, improving the business environment and encouraging economic activity,” the President said. 

    President Ramaphosa noted that the country continues to face high levels of unemployment and economic growth that is too low to create jobs and reduce poverty. In addition, the country faces the corrosive effects of corruption and pervasive crime, to which the poorest are most vulnerable.

    “It is with these challenges in mind that we formed a Government of National Unity (GNU) to place our country on a path of growth and transformation, a path of peace and prosperity. 

    “As we established the GNU, we understood that we were embarking on a new era in the life of our democracy. We understood that there would be complex dynamics and novel challenges that we would need to navigate,” he said.

    The President highlighted that the GNU adopted the Medium-Term Development Plan (MTDP), which outlines clear actions that will be undertaken over the next five years in pursuit of three strategic priorities. 

    “Across all ministries, all departments and all national entities, there is a commitment to implement the actions on which we have agreed and to move with urgency and purpose to address the needs of South Africans. 

    “Most importantly, there is a shared understanding that we need to rise above our differences and to work together to make progress on our most important challenges,” the President said. 

    The President explained that the approach of the Government of National Unity is to enhance national cohesion and nation building and to build partnerships across society to advance the common interests of all South Africans. 

    He said the National Dialogue is being convened in response to calls from individuals and formations from across society.

    The initiative has received wide support and has been endorsed by the GNU as a significant national process to develop a social compact that will enable the country to meet the aspirations of the National Development Plan.

    “We are all called upon to use this National Dialogue as an instrument of development, transformation, progress, national cohesion and nation building. The National Dialogue does not displace the democratic processes mandated by our Constitution, nor the electoral mandates that parties carry into Parliament and the Executive,” he said. 

    As the National dialogue process continues, the President said the GNU will continue to take action to address the immediate concerns that all South Africans share – to grow the economy, to create jobs, to tackle corruption and crime, and to fix local government.

    “Everything that this government does – from trade negotiations to economic reforms, from the professionalisation of the public service to support for farmers and small businesses – is directed towards meeting the needs of South Africa’s people and securing their future. 

    “The role of the Presidency is to coordinate the work of government towards this end, and to make sure that our commitments are translated into action. Our most important priority is to grow the economy and create jobs,” President Ramaphosa said. 

    The President added that efforts to improve visa administration, digital payments, tourism, and industrial diversification would unlock growth and investment. 

    “We are pursuing the Critical Minerals and Metals Strategy recently approved by Cabinet to ensure that the country’s mineral wealth creates jobs and produces value here in South Africa,” the President said. 

    The development of new sectors was also a key focus. 

    “Our National Policy on the Commercialisation of Hemp and Cannabis aims to improve the livelihoods of people living in rural areas, targeting 10 percent annual growth in this emerging industry,” he said.

    Highlighting tourism’s recovery, he noted that over 9 million international tourists visited South Africa last year, spending more than R90 billion.

    “This is thanks in large part to reforms in our visa system, targeted tourism promotion in key markets and support to local companies,” he said. 

    President Ramaphosa reaffirmed that the Presidency continues to lead implementation of economic reforms through Operation Vulindlela. 

    In the energy sector, working together with all stakeholders, the President noted outstanding progress in reducing the severity and frequency of load shedding. 

    “There was a time when daily load shedding was the norm. Now, it is very much the exception,” he said.

    He said government is putting in place the foundations for a competitive electricity market to unlock massive new investment in energy generation. 

    “This will result in lower electricity costs for all South Africans and more renewable energy to power our economy.”

    In addition, the President said South Africa has received international pledges worth R230 billion towards its just energy transition, with investments in transmission, renewables and localised development. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Government scales up youth-focused initiatives 

    Source: Government of South Africa

    As government pursues faster and more inclusive economic growth, the fight against youth unemployment remains a priority, with large-scale programmes underway to create opportunities for young people to earn an income, develop skills and gain work experience.

    Delivering the Presidency Budget Vote for the 2025/2026 financial year, President Cyril Ramaphosa said the greatest challenge that faces South Africa today is youth unemployment. 

    “Approximately 3.8 million out of 10.3 million young people aged 15 to 24 years are not in employment, education or training. These are young people with energy, initiative and untapped potential,” President Ramaphosa said.

    In his address on Wednesday, the President said government has launched large-scale programmes to provide young people with income opportunities, skills development and work experience.

    “Through innovative and targeted interventions, the Presidential Employment Stimulus has continued to demonstrate that when a society invests in its people, the dividends are measured in hope restored and futures rewritten,” he said. 

    He cited the Basic Education Employment Initiative, which entered a new phase in June this year, placing over 200 000 young people as school assistants in more than 2 0000 schools. 

    To date, this initiative has created over one million posts for young people to serve as assistants in schools, supporting teachers in classrooms, school administration and school maintenance.

    “The programme has been designed to strengthen the learning environment and learning outcomes in schools. In the process, participants gain work experience and skills vital to finding employment and starting their own businesses,” the President said.

    He added that the SAYouth.mobi platform was launched in 2020 to tackle the barriers faced by young people such as experience and the lack of transport or lack of data money.

    “There are now over 4.7 million young people registered on the SAYouth network. Young people have been supported to access over 1.67 million earning opportunities.

    “A significant achievement of SA Youth is that the vast majority of earning opportunities have been accessed by the most excluded young people. Seventy percent of opportunities have been accessed by young black African women,” President Ramaphosa said.

    The President noted that around 65% of the platform’s users live in grant-receiving households, demonstrating that “we are reaching some of the people who have the greatest need.”

    Another impactful initiative mentioned was the Youth Employment Service (YES), which he said has become the largest corporate-funded youth jobs programme globally. 

    The programme has to date provided over 190 000 young people with year-long work experience opportunities.

    “Through all of these programmes coordinated by the Presidency, we are changing the way that government works and scaling innovative solutions to our unemployment challenge,” the President said. 

    Education 

    Turning to education, President Ramaphosa underscored its role in fighting poverty, with a focus on early childhood development, foundational learning, and access to well-run schools.

    “We continue our efforts to ensure that learners have a safe and conducive environment in which to learn. To date, we have completed 97 percent of the sanitation projects under the SAFE initiative aimed at getting rid of pit latrines in our schools.”

    He also confirmed the implementation of the Basic Education Laws Amendment (BELA) Act, expansion of vocational training, and broader access to higher education through the National Student Financial Aid Scheme (NSFAS).

    Having come into effect in December last year, the Act amends sections of the South African Schools Act of 1996 (SASA) and the Employment of Educators Act, 1998 (EEA) to account for developments in the education landscape since the enactment of the original legislation.

    Through the NSFAS, government is expanding access for students from poor and working class families, and with the support of the National Skills Fund, assistance is being expanded to the ‘missing middle’.

    “This year, NSFAS is supporting over 800 000 university and TVET [technical and vocational education and training] college students. This provides opportunities to young people today that will, in time, transform our economy and society,” he said. 

    NHI

    On healthcare and the National Health Insurance (NHI), the President said government is addressing the poor state of health facilities and is hiring more professionals, while also permanently employing community health workers.

    “To address the severe challenges in the health system and in preparation for the implementation of the NHI, we are directing resources towards the hiring of more doctors, nurses and health professionals, the permanent employment of community health workers, and the purchase of new equipment and supplies.

    “We are determined to meet our HIV testing and treatment targets, despite the withdrawal of US funding,” he added, noting that Deputy President Paul Mashatile continues to lead the HIV/AIDS response through the South African National AIDS Council.

    Last week, Health Minister, Dr Aaron Motsoaledi, said the National Treasury has allocated R753 million to the Department of Health — under Section 16 of the Public Finance Management Act (PFMA) — to help bridge the shortfall caused by the United States’ decision to cut HIV and tuberculosis (TB) grants.

    READ | Treasury allocates emergency funding of R750m towards HIV and TB after US funding cuts

    The United States government’s withdrawal of funding to key health initiatives, including the President’s Emergency Plan for AIDS Relief P(EPFAR), which was established by former President George W Bush in 2003, led to a loss of R7.9 billion spent on HIV/Aids programmes annually.
     

    Governance 

    On governance, the President said building a capable and corruption-resistant state remains a priority. 

    “For us to effectively tackle any of these challenges, we need to build a capable state with institutions that are resistant to corruption or interference. 

    “The recent adoption of the Public Service Commission Bill by the National Assembly marks a crucial milestone, enhancing the independence and effectiveness of the Public Service Commission in promoting ethical governance,” the President said. 

    President Ramaphosa said the bill will allow the Commission to function as an impartial constitutional body and ensure that the executive is compelled to act on the Commission’s recommendations, thereby reinforcing accountability across the public sector. 

    Digital Transformation Roadmap

    He added that the Digital Transformation Roadmap launched in April 2025, is set to make government work more efficiently while also bringing it closer to the people.

    READ | Digital Transformation Roadmap to make it easier to access government services

    “The roadmap focuses on building digital public infrastructure including a digital identity for every South African citizen. 

    “It includes a digital payments system to enable instant, low-cost payments, and interoperable data systems to ensure that citizens only have to provide their information to government once,” said President Ramaphosa. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Economics: “We want even more proportionality”

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    Ms Wiens, the Solvency II review, which entered into force at the end of January, simplifies several requirements for small insurers. Why is it important for regulation to be proportionate?

    The German insurance sector is quite diverse. We have large groups, but also smaller regional providers. In addition, the risk profiles of the undertakings vary considerably. Complex undertakings with a wide range of risks are more likely to have the organisational resources and staff required to cope with the complex requirements of Solvency II. Smaller providers, on the other hand, can quickly get overwhelmed. Regulation needs to take this into account. It should be appropriate for the undertaking’s size and risk profile. That’s what we mean when we talk about proportionality. If we bear this in mind, we can keep things proportionate, avoid excessive bureaucracy and maintain market stability.

    But proportionality isn’t a new topic in European insurance supervision, is it?

    The introduction of Solvency II already gave proportionality a major boost in insurance supervision, including in our supervisory practice at BaFin. For example, we have published three versions of MaGo, our circular on the “Minimum requirements under supervisory law on the system of governance of insurance undertakings”: one for undertakings that are subject to the Solvency II Directive, one for smaller insurers that are still subject to the Solvency I rules, and one for institutions for occupational retirement provision. There was no question, though, that we want even more proportionality – and the review has made it possible.

    What are the most important simplifications resulting from the review for smaller, less complex insurance undertakings?

    First of all, we now have legal clarity about which undertakings are eligible for specific simplifications, which is crucial. In future, this category will include all insurers that meet the criteria to be considered small and non-complex undertakings, or “SNCUs”. This clarity helps us immensely in our work and enhances transparency throughout Europe.

    Starting in 2027, SNCUs will have an easier time calculating capital requirements using the standard formula. Under certain conditions, these undertakings will be allowed to use simplified calculations for immaterial risk modules – meaning for certain risks that are of minor importance to the undertaking – for a maximum of five years. If they meet certain criteria, SNCUs may also designate a single internally responsible person for multiple key functions. In addition, they can allow one person to hold a dual role both as a member of the management board and as the internally responsible person for a key function. This is a major step forward for European supervisory practice. In Germany, we have long made it possible to combine key functions and management board positions. We at BaFin were pioneers on this topic.

    Where do you still see potential to allow for more proportionality?

    For us, proportionality means more than just simplifying specific requirements for SNCUs. It is a fundamental principle of supervision that applies on a broader scale. Hence, we as supervisors have many options for taking a proportionate approach. For example, other insurers that are not classified as SNCUs can in principle also take advantage of general simplifications beyond the SNCU framework without having to obtain approval. The decisive factor is still the respective risk profile, which we assess on an individual basis.

    What is BaFin doing to further embed proportionality in regulation?

    The European Commission is currently working on the Level 2 legislative acts of the Solvency II review. This involves specifying the criteria that non-SNCUs need to fulfil in order to take advantage of the simplifications. In this context, we aim to help make these criteria – and their implementation – as simple and unbureaucratic as possible. Even when working on Level 1, that is to say the Solvency II Directive itself, we advocated raising the thresholds at which the Directive applies. And we succeeded. In the future, Solvency II will no longer apply to some undertakings that still fall under it today. This also means that, starting in 2027, they will no longer be subject to the requirements of DORA, the Regulation on digital operational resilience in the financial sector. It is important to me that we find a pragmatic and unbureaucratic solution for these undertakings. We will therefore refrain from taking any supervisory measures if these insurers do not fulfil the DORA requirements during the transitional period until the Solvency II amendments are transposed into German law.

    Wherever possible, we want to make greater use of the opportunities for principle-based supervision provided by Solvency II, particularly in Pillar II, in order to achieve greater consistency in this area. A more principle-based approach means giving greater weight to the supervisor’s individual appraisal. And that will require us to engage in closer dialogue with the insurance undertakings.

    MIL OSI Economics –

  • MIL-OSI Russia: Monthly interest on a deposit: save or spend?

    Translation. Region: Russian Federal

    Source: Solid Bank – Solid Bank –

    An important disclaimer is at the bottom of this article.

    We are sure that investors who place funds in deposits with monthly interest payments have at least once asked themselves: is it better to save interest or live on interest and spend it on their personal needs? Today we will figure this out.

    There is no right answer to this question. Here everyone chooses their own option – what is better, what is more profitable, what fits into individual plans. The most important thing is that the answer to this question depends on your ultimate financial goals, plans and life habits.

    The option to save interest, as well as the option to live on interest, have their own characteristics (advantages and disadvantages). It is worth evaluating what will suit your strategy better.

    We accumulate interest:

    • This option is definitely suitable if your goal is to increase your capital. Please note that the deposit terms should include not only the option of monthly interest payments, but also capitalization. With its help, the interest accrued monthly will be automatically added to the deposit amount. Thus, the income increases compared to deposits without capitalization. This is the effect of compound interest.

    • We protect your funds from inflation and fraud. If you are worried that your savings are depreciating, that there may be a sharp decline in the economy, etc., you should consider a deposit as a savings instrument. Due to the interest, you protect your money from depreciation, and also keep it in a safe and secure place, while the investments will be insured by the Deposit Insurance Agency within 1.4 million rubles. In the event of an unforeseen situation, you will receive compensation.

    • Develop financial discipline. Agree that the ability to save money is not inherent to everyone. For some it comes easy, for others it does not work at all, and all attempts do not end with a successful result. Opening a deposit will help develop this skill. You will not be tempted and able to “get into” savings, since, most often, the terms of deposits do not provide for the withdrawal of funds before the deposit term without sanctions for the depositor. Usually, funds can be withdrawn only if the interest paid earlier is lost. This fact will keep you from temptations. For this purpose, a deposit in Solid Bank – “Solid” is perfect. Where you can now place money at an attractive interest rate, which can become higher with capitalization. More details here.

    We spend interest:

    • A deposit is an additional source of income. For example, you are a pensioner, have some savings, and you do not need to use them for large purchases. By placing money in the Bank at interest, you can receive a monthly increase to your pension. This will allow you to improve your standard of living now. Our “Pension” deposit is ideal for this. You can study the conditions at the link. The option – spending interest strategically is suitable for anyone who wants to use the deposit as a passive source of income for current needs.

    The most important thing for you is to know your goals and, based on this, choose financial instruments. We are always ready to consult each of you and help you choose the right options. Contact us at our offices or on the hotline: 8 800 775 56 06.

    JSC Solid Bank. General license of the Central Bank of the Russian Federation No. 1329.

    VBV. SOLIDBANK.ru

    8 800 775 56 06 (free call within Russia)

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

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    MIL OSI Russia News –

  • MIL-OSI China: Geeking out, China’s high-tech factory floors adored as ‘industrial Disneyland’

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

    Robots work at Xiaomi’s automobile factory in Beijing, capital of China, June 16, 2025. [Photo/Xinhua]

    Getting a pass into Xiaomi’s car plant in suburban Beijing feels like snagging front-row tickets to the world’s hottest concert.

    “Application accepted!” Wang Shuang crowed, posting a screenshot to social media. “The last time I felt this giddy was when I landed a Taylor Swift ticket.”

    Welcome to China’s newest travel craze: high-tech factories have joined ancient palaces and world-class museums as the nation’s must-see destinations.

    China has dominated as the world’s manufacturing powerhouse for fifteen straight years. Yet, in just the past two years, the robust rise of smart manufacturing has revolutionized the country’s once dreary, clang-and-hiss assembly lines into a cultural phenomenon or “industrial Disneyland.”

    Chinese manufacturers aren’t pioneering this factory fascination. France’s Citroen ignited the trend in the 1950s. Boeing and Toyota plants remain the top U.S. and Japan draws.

    As the country’s industrial prowess ascends from the lower rungs of the global supply chain to a technology-driven frontier, a profound shift has taken hold. An increasing number of Chinese people now celebrate mechanical ingenuity with reverence, as their pride in homegrown sectors flourishes.

    The registration page of Xiaomi, a headline-grabbing newcomer to the electric vehicle (EV) sector last year, was still live ticking: beside the tiny line “20 spots only,” the counter read “4,060 already applied” as a scramble ensued to witness robotic arms assembling electric cars.

    Wang snagged that coveted ticket only after camping on the official website for days, finger tap-dancing like a twitchy trigger, until the confirmation flashed alive.

    Tech odyssey 

    Under the scorching sun, the lucky visitor Wang stepped into the factory complex as scheduled. The two-hour journey felt like a tech-filled odyssey. She rode a shuttle vehicle that zipped through the six major workshops: stamping, large die casting, body welding, painting, battery assembly and final assembly.

    In her experience, factories were enclosed, dusty, and filled with workers in safety helmets. This time, she saw robotic arms working with micron-level precision on the factory floor and AI-driven robots moving freely along planned routes to deliver battery cell components to their destinations.

    “It takes just 76 seconds to churn out a new car,” Wang exclaimed in amazement. “Quicker than whipping up a latte.”

    NIO, another domestic EV manufacturer, has opened its “Second Advanced Manufacturing Base” to the public since October 2023. Visitors can also tour the facility, which is filled with robotic arms, from an elevated corridor. In 2024, over 130,000 people visited the site, including about 900 from overseas.

    The moves to open production lines to the public came as China’s new energy vehicles have topped the global production and sales charts for nine consecutive years. Along with lithium batteries and photovoltaic products, they form China’s “new export trio,” showcasing the technological upgrades of “Made in China.”

    Freya Zhang, a research analyst at the investment consulting firm Tech Buzz China, told the journal Wired that China’s EV factory tour “offers a chance to not only see the production line up close, but also experience the human side of the brand.”

    Beyond EVs, emerging tech hubs are becoming pilgrimage sites. In Hangzhou, an innovative magnet in east China, robotics pioneers like Unitree Robotics draw curated tour groups.

    At the AG600 final-assembly plant in the southern Chinese city of Zhuhai — host city of China’s premier airshow — a steady stream of visitors was filing through the country’s only extensive special-mission aircraft production line that is open to the public.

    The AG600 line attracts roughly 40,000 visitors a year, with open-day slots almost booked out to a crowd dominated by the young. The domestically developed amphibious aircraft, which has already entered mass production, can swiftly shuttle between water sources and fire sites, making it a powerful tool for forest firefighting.

    The destination of industry tourism is also emerging from unexpected origins: waste treatment plants. Not far from Zhuhai, Shenzhen, an economic hub of China, now welcomes visitors to four such “eco-parks.”

    One social platform user from Xiaohongshu posted about their visit: The true spectacle lies in the industrial-scale choreography of the facility’s central sorting hall, where a colossal hydraulic claw, operating with uncanny precision, plunges into mountains of refuse and sorts recyclables. “It provides a sense of satisfaction akin to that of playing a claw crane game.”

    New growth 

    China hosts over 40 percent of the world’s “lighthouse factories,” and more assembly lines have been digitally transformed, creating an ideal foundation for transforming humans on factory floors into a cultural canvas.

    More Chinese cities have made industrial tourism their new engines for growth. In February, Beijing vowed to create five national industrial-tourism demonstration bases by 2027 and become a leading destination by 2029.

    The city’s tourism blueprint includes opening high-level autonomous driving scenarios, rocket institutes, low-altitude economy, and green energy routes, while inviting research institutes to grant public access to select labs and assembly halls.

    Local governments are also looking to outfit industrial tourism itself with next-gen stagecraft: Shanghai is set to weave large language models, the metaverse and blockchain into richer cultural narratives, while Hunan province in central China will deploy AR, VR, AI, 5G, 3D cinema, and holography to build fully immersive worlds.

    “Industrial tourism is a nexus where secondary and tertiary industries converge,” said Chen Wei, an expert from Tsinghua University. “It can fuel consumption, expand domestic demand, and promote industrial science education.”

    Among the facilities listed as national industrial tourism demonstration bases are Jiangnan Shipyard in Shanghai, the aerospace supercomputing center in the island province of Hainan, and the Zhuzhou electric locomotive production line in Hunan, which is a cradle of China’s high-speed trains, according to China’s Ministry of Culture and Tourism.

    “Fast-tracking industrial tourism is a strategic move in building a modern industrial system, which serves to unlock growth potential for regional economic vitality,” said Chen. 

    MIL OSI China News –

  • MIL-OSI: Valour Enters Swiss Market with HBAR and ICP Staking ETP Listings on SIX Swiss Exchange

    Source: GlobeNewswire (MIL-OSI)

    • Valour Launches First Products on SIX Swiss Exchange: Valour has officially entered the Swiss market with the listing of two staking ETPs—1Valour Hedera (HBAR) and 1Valour Internet Computer (ICP)—on the SIX Swiss Exchange.
    • Access to Native Yield Through Regulated ETPs: Both products offer secure, transparent, and regulated exposure to HBAR and ICP, while integrating native staking rewards directly into their structure.
    • Accelerating Toward 100 ETPs in Europe: With this launch, Valour now offers over 75 ETPs across Europe and continues to expand its footprint in line with its goal of reaching 100 ETPs by the end of 2025.

    TORONTO, July 17, 2025 (GLOBE NEWSWIRE) — DeFi Technologies (the “Company” or “DeFi Technologies”) (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance (“DeFi”), is pleased to announce that its subsidiary, Valour Inc., and Valour Digital Securities Limited (together, “Valour“), a leading issuer of exchange traded products (“ETPs“) has successfully listed two digital asset ETPs on the SIX Swiss Exchange—marking its inaugural product launch in Switzerland.

    The newly listed products are:

    • 1Valour Hedera (HBAR) Physical Staking (ISIN: GB00BRC6JM96)
    • 1Valour Internet Computer (ICP) Physical Staking (ISIN: GB00BS2BDN04)

    These cross-listed ETPs are already trading on other major European exchanges and will now be accessible to Swiss investors through their existing brokerage accounts. With competitive management fees and integrated staking rewards, both products provide secure, transparent, and regulated access to digital assets while enabling investors to benefit from native protocol yields.

    About the Listed Products

    1Valour Hedera (HBAR) Physical Staking
    HBAR is the native token of the Hedera network, a high-throughput, proof-of-stake public ledger designed for enterprise-grade applications. This ETP offers investors exposure to HBAR while capturing staking rewards—distributed directly to the product and reflected in its net asset value—without requiring users to manage wallets or custodianship themselves.

    1Valour Internet Computer (ICP) Physical Staking ICP powers the Internet Computer, a decentralized network that enables secure, scalable smart contract execution and web-speed blockchain functionality. This ETP provides passive exposure to ICP while generating staking yield, enabling investors to participate in the network’s native economics via a traditional financial instrument.

    Executive Commentary

    Johanna Belitz, Head of Nordics and DACH at Valour, commented:
    “Launching on SIX is a major milestone in our mission to democratize access to digital assets. Switzerland is one of the most forward-looking markets for regulated crypto products, and we’re proud to offer investors here access to yield-bearing protocols like HBAR and ICP in a simple and compliant format.”

    Elaine Buehler, Head of Products at Valour, added:
    “Our debut on the SIX Swiss Exchange reflects growing institutional and retail appetite for digital asset products that generate yield. These ETPs not only give investors exposure to two high-quality blockchain ecosystems—they do so through structures designed for security, simplicity, and accessibility.”

    With the addition of these products on SIX, Valour continues to expand its footprint across Europe, now offering over 75 ETPs on exchanges including Spotlight (Sweden), Börse Frankfurt (Germany), Euronext (Paris and Amsterdam), and now SIX (Switzerland). The Company remains on track to reach its goal of 100 ETPs by year-end 2025.

    About DeFi Technologies
    DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance (“DeFi”). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to over sixty-five of the world’s most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the company’s internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit https://defi.tech/  

    DeFi Technologies Subsidiaries

    About Valour
    Valour Inc. and Valour Digital Securities Limited (together, “Valour”) issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit valour.com.

    About Reflexivity Research
    Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit https://www.reflexivityresearch.com/

    About Stillman Digital
    Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit https://www.stillmandigital.com

    About Neuronomics AG
    Neuronomics AG is a Swiss asset management firm specializing in AI-powered quantitative trading strategies. By integrating artificial intelligence, computational neuroscience and quantitative finance, Neuronomics delivers cutting-edge solutions that drive superior risk-adjusted performance in financial markets. For more information please visit https://www.neuronomics.com/

    Cautionary note regarding forward-looking information:
    This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the the listing of 1Valour Hedera (HBAR) Physical Staking ETP, 1Valour Internet Computer (ICP) Physical Staking ETP; the development of the Internet Computer protocol, Hedera blockchain; development of additional ETPs and the number of ETPs anticipated by end of 2025; investor confidence in Valour’s ETPs; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour ETPs by exchanges; growth and development of decentralised finance and cryptocurrency sector; rules and regulations with respect to decentralised finance and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

    For further information, please contact:

    Olivier Roussy Newton
    Chief Executive Officer
    ir@defi.tech
    (323) 537-7681

    The MIL Network –

  • MIL-OSI Africa: How Africa’s First Group of Twenty (G20) is Mainstreaming Gender

    Source: APO


    .

    The G20 is a global economic forum with the potential to transform lives for women and girls globally. Here’s why South Africa’s leadership in 2025 represents a pivotal moment. We asked UN Women South Africa Multi-Country Office Programme Analyst Neo Mofokeng how South Africa’s 2025 presidency could advance gender equality.

    What is the G20, and why should women care?

    The Group of Twenty (G20) is an international forum for governments and central bank governors from 19 countries, the European Union, and the African Union. It was established in 1999 to bring together the world’s major economies to discuss and promote international financial stability and sustainable economic growth. It brings together the world’s largest economies, representing 67 per cent of the global population and 85 per cent of global GDP. When G20 countries make decisions, they don’t just affect stock markets; they directly impact whether women can access credit to start businesses, find decent jobs, or receive social protection during crises. From climate financing to digital transformation, the G20’s policies ripple through national economies, determining whether women are empowered or excluded from economic opportunities. When these countries and regional entities commit to gender-responsive policies, the effects are systemic, not symbolic.

    What makes South Africa’s G20 presidency historic?

    South Africa’s G20 presidency in 2025 marks a critical moment as it is the first time an African country has led the forum. This leadership comes just five years before the 2030 deadline for achieving the Sustainable Development Goals (SDGs), bringing renewed urgency to accelerate progress on SDGs, particularly SDG 5: Gender Equality. Under the theme “Solidarity, Equality, Sustainability”, South Africa’s presidency directly aligns with the global agenda for gender equality and women’s empowerment. It is worth noting that South Africa has prioritized debt sustainability for low-income countries – a key gender justice issue, as debt crises often trigger austerity measures that disproportionately affect women and girls by reducing access to healthcare, education, and social protection.

    What does gender mainstreaming mean in the G20 context?

    While the G20 includes a dedicated Working Group on Women’s Empowerment, true progress requires gender mainstreaming, which is the embedding of gender perspectives across all working groups, not just the one explicitly focused on women’s issues. This means finance ministers considering how monetary policies affect women differently, infrastructure discussions evaluating women’s mobility and safety, and trade negotiations assessing impacts on women entrepreneurs. There is no such thing as gender-neutral economic policy – all decisions have differentiated impacts on women and men.

    What are the priorities for gender mainstreaming for this year’s G20?

    To carry forward the Global South priorities from the previous G20 presidencies of Indonesia, India, and Brazil, the following priorities were adopted as the focus areas for gender mainstreaming into this G20 presidency. The first priority is to shift policy perspectives on the care economy around paid and unpaid care work and household responsibilities. The second is to promote financial inclusion of and for women, and the third priority is to address gender-based violence and femicide, which threaten the lives and livelihoods of women.

    How is progress on gender equality measured in the G20?

    Despite the growing recognition of the importance of gender equality, tracking progress remains challenging. The most prominent commitment is the 2014 “25×25 goal”, reducing the gender gap in labour force participation by 25 per cent by 2025. As this deadline approaches, it serves as a critical test case for G20 accountability. However, other dimensions like unpaid care work, gender-based violence, and women’s leadership receive less attention. Gender-related commitments sometimes appear in one year’s declaration but vanish in the next, making long-term progress difficult to track. This is another reason why mainstreaming gender in the G20 is so important.

    What makes the G20’s influence on gender equality so significant?

    In a world of countless international forums, the G20’s influence is unmatched. When G20 countries commit to closing gender gaps in labour force participation or expanding women’s access to finance, the ripple effects shift global economic patterns and influence international norms far beyond G20 borders. The G20 serves as a strategic lever with the capacity to drive policy coherence by integrating gender equality across economic, climate, and digital agendas, foster shared accountability through joint monitoring, and mobilize financing with intent, ensuring gender equality is resourced, not just referenced.

    What is UN Women’s role in the G20 process?

    UN Women plays a pivotal role by advocating for gender mainstreaming across all G20 policy areas, providing technical expertise and data to working groups, and engaging with key stakeholders like the Women 20 (W20) engagement group. The organization works to ensure that gender perspectives are systematically mainstreamed into G20 discussions, communiqués, and policy frameworks, with a strong focus on women’s economic empowerment, financial inclusion, and ending violence against women and girls.

    How has UN Women supported South Africa’s G20 presidency?

    UN Women, through its South Africa Multi-Country Office, has provided comprehensive technical and financial support to the South African Government, made possible by backing from The Ford Foundation, the Government of Ireland, and the UN Women Eastern and Southern Africa Regional Office. This support has been crucial in advancing gender equality within South Africa’s G20 agenda.

    • Youth Engagement: In February 2025, UN Women partnered with the South African Institute of International Affairs youth division to organize the “Bridging the Gap for Global Impact” workshop in Johannesburg, bringing together 150 young leaders aged 18-25. The workshop provided tools for effectively engaging decision-makers and included panel discussions on gender advocacy, enabling participants to develop strategies for promoting gender equality.
    • Transforming Patriarchal Masculinities: In March 2025, UN Women hosted a dialogue on “Transforming Patriarchal Masculinities for a Gender-Equal World” in Pretoria, bringing together 150 students from universities, technical and vocational education and training institutions, and high schools. This dialogue compiled youth recommendations for the Women’s Empowerment Ministerial Working Group meeting.
    • Technical Working Group Support: UN Women provided crucial support to all three Empowerment of Women Working Group meetings throughout 2025. The February virtual meeting focused on setting the priorities of the care economy, financial inclusion, and gender-based violence. The May meeting in Sun City emphasized advancing financial inclusion and developing a Guidelines Framework for mainstreaming women’s priorities in global financial systems. The July meeting at Kruger National Park concentrated on the care economy – recognizing, reducing, and redistributing care work.
    • Private Sector Engagement: UN Women supported a groundbreaking Private Sector Breakfast in May, bringing together corporate leaders, investors, and entrepreneurs to align business practices with G20 gender equality goals. Grounded in the Women’s Empowerment Principles, this initiative moved beyond symbolic participation to actionable commitments.
    • Disability Inclusion: Additionally, UN Women supported disability inclusion initiatives and the W20 inception meeting, demonstrating comprehensive engagement across all aspects of South Africa’s gender equality agenda.

    What does success look like for gender equality in the G20?

    Success in 2025 means moving beyond rhetoric to gender-transformative policies with robust accountability mechanisms. It requires recognizing gender as intersectional, addressing the diverse experiences of all women and gender-diverse individuals across lines of race, class, disability, and age. At the current pace, it will take over 123 years to close gender gaps globally. The G20 has the power to change this trajectory, but only if gender equality becomes a lived reality, not just a shared goal.

    Distributed by APO Group on behalf of UN Women – Africa.

    MIL OSI Africa –

  • Nitish Kumar announces 125 units of free electricity for households in Bihar from August 1

    Source: Government of India

    Source: Government of India (4)

    Bihar Chief Minister Nitish Kumar on Thursday announced that every household in the state will receive 125 units of electricity free of cost every month, starting from August 1.

    In a post on social media platform X, Kumar said the move would benefit 1.67 crore domestic consumers across Bihar. “This step is aimed at providing relief and empowerment to the people,” he said.

    The announcement is part of the state government’s push to ease the financial burden on households while expanding access to affordable electricity.

    Kumar also laid out a roadmap for renewable energy in the state, saying that over the next three years, solar power plants would be installed on rooftops or nearby public land, with the consent of consumers. The target is to generate up to 10,000 MW of solar energy in Bihar.

    Under the existing Kutir Jyoti Yojana, the state will cover the full cost of installing solar panels for extremely poor families. Other households will receive financial support to adopt solar power.

    Reiterating the state’s focus on energy access, the Chief Minister said the government has consistently worked to keep electricity affordable, and the current step marks a further commitment toward sustainability and welfare.

    JD(U) MLC Neeraj Kumar called the move a “master stroke” ahead of the elections. He said the scheme would benefit people across caste and religious lines, and credited Kumar with improving energy access since assuming office.

    “When Nitish Kumar came to power, he removed the lantern from the homes of the poor and backward classes. Now he is removing the burden of electricity bills, helping the next generation study without interruption,” Neeraj said.

    Taking a swipe at the Opposition, he added, “This move will send a 33,000-volt current to those who want to keep Bihar in darkness.”

    Earlier, RJD leader and Leader of Opposition Tejashwi Yadav had promised 200 units of free electricity if voted to power.

    IANS

  • MIL-Evening Report: Why a surprise jump in unemployment isn’t as bad as it sounds

    Source: The Conversation (Au and NZ) – By Jeff Borland, Professor of Economics, The University of Melbourne

    New figures show Australia’s seasonally adjusted unemployment rate unexpectedly rose to 4.3% – its highest level since late 2021 – in June this year, up from 4.1% in May.

    While this is bad news, it’s not as bad as it might seem. Higher unemployment came from more people looking for work. In the long run, that’s good for the economy.

    And these figures also make it more likely we’ll see an interest rate cut next month – which is now looking overdue.

    What’s the bad news?

    This is the second month in a row we’ve seen no growth in total employment, while total hours worked (the number of hours worked by employed individuals, regardless of whether they are full-time, part-time or overtime) in the past month has gone backwards.

    All this adds to the picture of a slowing labour market since the start of the year, after surprisingly strong growth in the second half of 2024.

    The latest Australian Bureau of Statistics release also includes data on where extra hours worked during 2025 have come from.

    Employment growth has come entirely from the “non-market sector” – which is healthcare and social assistance, education and training, and public administration and safety. And the big driver of those extra jobs has been in social assistance and health care, which is largely government-funded.

    That means employment has gone backwards in the rest of the economy, adding to a picture of a jobs market being propped up by government investment in the caring economy.

    Why it as bad as you might think

    The reason unemployment rose is that more people were looking for work – so it’s not because employment fell.

    Of course, we’d prefer those people to have found jobs. But it does mean people weren’t losing jobs for the unemployment rate to rise.

    The growth in labour force participation in June continues the trend of strong growth since late 2021. In the long run, that’s a good thing – it means the country can produce more output, and more people gain an income from work.

    An interest rate cut now looks more certain

    A fortnight ago, the Reserve Bank surprised most people by keeping the cash rate on hold at 3.85%.

    Today’s unemployment data is extra evidence that the labour market isn’t contributing to inflation pressure – in fact, it’s the opposite.

    It shows an interest rate cut is now overdue. The Reserve Bank board meets again in mid-August, with a decision on rates announced on August 12.

    When will we know if this is a blip or a trend?

    One possibility is that some of the extra people who became unemployed in June have a job to go to in the next month. Ups and downs in that group have at times been influential in driving unemployment numbers in recent times. In that case, this month’s figures may partly turn out to be a blip. We’ll be able to tell that when we see next month’s figures.

    But the blip is unlikely to explain all of the rise in June. This is also about a labour market that is slowing.

    Jeff Borland receives funding from the Australian Research Council.

    – ref. Why a surprise jump in unemployment isn’t as bad as it sounds – https://theconversation.com/why-a-surprise-jump-in-unemployment-isnt-as-bad-as-it-sounds-261375

    MIL OSI Analysis – EveningReport.nz –

  • Trump says he’s not planning to fire Fed’s Powell

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates.

    A Bloomberg report earlier Wednesday saying that Trump was likely to fire Powell soon sparked a drop in stocks and the dollar, and a rise in Treasury yields.

    Trump, who has been criticizing Powell on an almost daily basis for being “TOO LATE” to cut interest rates, said the report wasn’t true. But Trump confirmed he had floated the idea with Republican lawmakers on Tuesday evening, marking the latest chapter in an escalating campaign by Trump against the independent central bank and its embattled chief.

    “I don’t rule out anything, but I think it’s highly unlikely unless he has to leave for fraud,” Trump said, a reference to recent White House and Republican lawmaker criticism of cost overruns in the $2.5 billion renovation of the Fed’s historic headquarters in Washington. There has been no evidence of fraud, and the Fed has pushed back on criticism of its handling of the project.

    Powell, who was nominated by Trump during his first term in late 2017 to lead the Fed and then nominated for a second term by Democratic President Joe Biden four years later, has repeatedly said he intends to serve out his term, which runs through May 15, 2026. A recent Supreme Court opinion has solidified a long-standing interpretation of the law that the Fed chair cannot be fired over policy differences but only “for cause.”

    In an interview aired later on Wednesday, Trump was again asked if he was thinking of removing Powell. “I’d love it if he wants to resign, that would be up to him,” Trump told the Real America’s Voice. “They say it would disrupt the market if I did.”

    Treasury yields pared declines and stocks ended the day higher after Trump’s comments, which included the familiar complaint that Powell is a “terrible” chair for keeping the Fed’s short-term policy rate in the 4.25%-4.50% range since December while the central bank assesses the impact of sharply higher tariffs on inflation.

    Trump blames the Fed for higher long-term rates that increase the cost of U.S. government borrowing. His attacks on Powell have continued since his signing on July 4 of the “Big Beautiful Bill,” the tax and spending bill that independent analysts say will add trillions of dollars to the U.S. deficit.

    “A HUGE MISTAKE”

    Republican Senator Thom Tillis of North Carolina, who opposed the tax bill and has since said he won’t run for reelection, on Wednesday delivered a spirited defense of an independent Fed, which economists say is the linchpin of U.S. financial and price stability.

    “There’s been some talk about potentially firing the Fed chair,” said Tillis, a member of the Senate Banking Committee, which oversees the Fed and confirms presidential nominations to its Board. Subjecting the Fed to direct presidential control would be a “huge mistake,” he said.

    “The consequences of firing a Fed chair, just because political people don’t agree with that economic decision, will be to undermine the credibility of the United States going forward, and I would argue if it happens you are going to see a pretty immediate response, and we’ve got to avoid that,” said Tillis.

    Other Republicans downplayed the possibility of Trump’s firing Powell.

    Asked if it would be a problem for Trump to fire Powell, Senate Majority Leader John Thune told reporters: “My understanding is he doesn’t have any intention of doing that.”

    “President Trump’s own analysis and that of his Treasury secretary is that he cannot fire Jay Powell,” House Financial Services Committee Chair French Hill told CNBC earlier on Wednesday.

    RENOVATIONS AT THE FED

    Last week, the White House appeared to try to lay the groundwork for firing Powell for cause when the director of the Office of Management and Budget, Russell Vought, sent Powell a letter saying that Trump was “extremely troubled” by the renovations of two Fed buildings.

    Powell responded by asking the U.S. central bank’s inspector general to review the project. The central bank also posted a “frequently asked questions” fact sheet, which rebutted some of Vought’s assertions about VIP dining rooms and elevators that he said added to the costs.

    “Nobody is fooled by President Trump and Republicans’ sudden interest in building renovations — it’s clear pretext to fire Fed Chair Powell,” Elizabeth Warren, the top Democrat on the Senate Banking Committee and herself a longtime critic of Powell, posted on X. Warren was the committee’s only member to vote against Powell’s renomination as chair in 2022, saying he had not done enough on regulation.

    Fed policymakers are worried that, with 40-year-high inflation only recently in the rear-view mirror, any bump up in inflation coupled with a too-early cut to short-term borrowing costs could ignite expectations that inflation is back, a potentially self-fulfilling prophecy that could weaken the economy and undermine progress on price stability.

    Analysts said they feared the pressure campaign on Powell would continue — with deleterious effects on the Fed’s ability to do its congressionally mandated job of both keeping prices stable and maximizing employment.

    “Any reduction in the independence of the Fed would likely add upside risks to an inflation outlook that is already subject to upward pressures from tariffs and somewhat elevated inflation expectations,” wrote JP Morgan chief U.S. economist Michael Feroli, who said he doubts the “saga” of the president’s repeated threats to remove Powell is over.

    Feroli and others noted that continued pressure on Powell would likely push up longer-term interest rates as investors demand more protection from the risk of higher inflation — making U.S. government borrowing more, not less, expensive.

    The “formal process” for identifying a successor to Powell is under way, Treasury Secretary Scott Bessent has said. Bessent is one candidate for the job, along with White House economic adviser Kevin Hassett, former Fed Governor Kevin Warsh and Fed Governor Christopher Waller.

    (Reuters)

  • MIL-OSI Russia: Delegation of businessmen from Tajikistan visited the new campus of NSU

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    A delegation of businessmen from the Republic of Tajikistan, representing the financial and insurance sectors, visited the new campus of NSU, which is being built within the framework of the national project “Youth and Children”. During the visit, a meeting was held with the management Faculty of Economics to discuss the development of cooperation with the Central Asian republic.

    The businessmen appreciated the high level of infrastructure being created on the university campus. The delegation attended lectures in large auditoriums and were impressed by the scale and high level of organization of the educational process.

    — This is not just a modern building — it is a real world-class scientific center. I was particularly impressed by the high quality of the infrastructure, comfortable classrooms and an atmosphere conducive to learning and scientific activity. Such campuses create not just an educational environment, but a space for the formation of future leaders of science and technology, — emphasized Ayubjon Nasirov, founder and current head of the insurance organization Eskhata Sugurta.

    During the meeting with the leadership of the Faculty of Economics, cooperation between universities of Tajikistan and NSU was discussed in several key areas:

    · Training and retraining of personnel in technical and economic specialties.

    · Joint scientific research, in particular in the field of information technology, digital transformation of business and medicine.

    · Internships and student exchanges, which are especially important for practical training and international experience.

    — We would like to pay special attention to the development of the Olympiad movement and work with gifted children. We are very interested in the Physics and Mathematics School (SUNC NSU), which has been successfully working with talented schoolchildren for many years. Many of our schoolchildren — winners of republican Olympiads — studied and successfully graduated from your university. It is important not only to preserve this tradition, but also to develop it, expanding the access of talented youth of Tajikistan to your educational programs, — explained Ayubjon Nasirov.

    Thus, the deputy dean of the economics department of NSU Naimdzhon Ibragimov at one time got to the university through the PhMS. In 1981, he won the republican Olympiad in mathematics in Tajikistan, after which he was offered to enroll in the summer school at the PhMS. In 1983, he graduated from the physics and mathematics school and entered the EF NSU.

    As noted by businessmen, NSU is distinguished by a high level of academic and scientific training, powerful infrastructure, as well as deep integration of science, education and innovation. Also, the trend of recent years is the strengthening of cooperation between the university and companies and enterprises from various industries.

    — In Tajikistan, we are also actively developing the higher education system, but here, at NSU, we saw an example of how a university can become a center for technological and economic development in a region. We were especially impressed by the close connection between the university and business, which allows us to quickly adapt educational programs to the needs of the labor market and ensure that graduates are in demand, — added Ayubjon Nasirov.

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Xinjiang Opens 28th Civil Airport

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    URUMQI, July 17 (Xinhua) — The 28th civil airport has opened in northwest China’s Xinjiang Uygur Autonomous Region, cementing Xinjiang’s status as the provincial-level region with the most airports in the country.

    The opening of the Barkul Dahe Airport, the second high-altitude airport in Xinjiang, took place on July 15. The airport, located in Barkul Kazakh Autonomous County (Hami City), cost 692.84 million yuan (about 97 million US dollars) to build and has a design capacity of 300,000 passengers and 700 tons of cargo per year.

    Currently, Barkul Dahe Airport serves two flights, one from Chengdu to Barkul with a stop in Zhengzhou and another from Chongqing to Barkul. There are also plans to launch a flight to Beijing.

    According to Xinjiang Airport Group, the new airport will promote the development of the local economy and industries with local characteristics, play a role in implementing the strategy of “Rising Xinjiang through Tourism” and achieving rural development in Barkul and surrounding areas. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Africa: Western community leaders, Special Representative of the Secretary General (SRSG) confer on security situation and political roadmap

    Source: APO – Report:

    .

    Fifteen representatives of communities from across the Western region met with the Special Representative of the Secretary General to further discuss the security situation and share their opinions on the way forward to develop a political roadmap on Monday. 

    Participants, which included municipal leaders and notables, stressed that the transitional period needs to come to an end, and that any political process must move forward in an environment free from security tensions. The participants suggested weapons be withdrawn from Tripoli to protect civilian lives and the security institutions of the government secure the capital.  

    Participants were briefed on the four options put forward by the Advisory Committee in May. As outlined in the  Executive Summary of the Advisory Committee’s report,  the options include:     

    1. Option 1: Presidential and legislative elections are to be conducted within two years, commencing once a political settlement is reached on the legal status and financial independence of HNEC, the necessary amendments to the constitutional and legal framework for elections, and a unified government. The political settlement should include provisions for adopting a permanent constitution for the country.  
    2. Option 2: A bicameral legislative council will be elected within two years, with the drafting and ratification of the constitution entrusted to the Senate. The new constitution will regulate all subsequent presidential and parliamentary elections.  
    3. Option 3: Adopt a constitution, prior to elections. This option involves examining the challenges associated with the 2017 draft constitution and exploring the feasibility of drafting a new constitution.  
    4. Option 4: Activate the dialogue mechanism and replace existing institutional stakeholders with a constituent assembly through LPA Article 64 dialogue process. 

    “We support fourth option put forward by the Advisory Committee because previous and current governments have supported militias, which has contributed to the deterioration of the security, political and economic situation in Libya,” said one representative. 

    Others said that elders were working across communities to continue local mediation and avoid further violence, and that 143 mukhtars from 11 municipalities wanted to convey the message that war should be avoided and dialogue promoted to resolve differences peacefully. 

    Highlighting deficient infrastructure and basic services, representatives also said citizens in their areas were seriously suffering from shortcomings in the educational and health sector.  

    “Certain individuals do not want the Libyans to move on,” said one representative. “At this critical juncture, our priority should be focused on a process that leads to a unified government that effectively addresses security and economic issues, as well as citizens’ concerns, in the western region and across Libya.”

    – on behalf of United Nations Support Mission in Libya (UNSMIL).

    MIL OSI Africa –

  • MIL-OSI Africa: Ethiopia Takes Bold Strides on Health Taxes to Drive Universal Health Coverage

    Source: APO – Report:

    .

    In a landmark show of political will and multisectoral collaboration, the Ethiopian House of Peoples’ Representatives (HPR), the Ministry of Health, and partners are spearheading one of Africa’s most promising health financing reforms. By embracing health taxes as a strategic tool, Ethiopia has started strengthening its national health system, curbing the rise of noncommunicable diseases (NCDs), and advancing its journey toward Universal Health Coverage (UHC).

    This momentous collaboration was showcased during a high-level training workshop held from 13 to 14 June 2025 in Adama, Ethiopia. The forum was jointly organized by WHO Ethiopia and the Ministry of Health, in partnership with the Inter-Parliamentary Union (IPU), and with generous financial support from the Government of Norway.

    The two-day event brought together 63 MPs and parliamentary staff as well as 13 senior officials of the Ministry of Health, reaffirming the critical role of legislative bodies in shaping public health through economic policy.

    The workshop focused on consolidating the capacity of lawmakers to further understand and champion health taxes—specifically excise taxes on tobacco, alcohol, and sugar-sweetened beverages. These taxes are globally recognized for their dual impact: they discourage the use of harmful products while generating sustainable revenue to fund essential health services.

    In her opening remarks, H.E. Lomi Bedo, Deputy Speaker of the House of Representatives, emphasized the transformative power of Ethiopia’s 2020 excise tax law. “By raising taxes on tobacco, alcohol, and other harmful products, Ethiopia has taken a critical step toward safeguarding public health and promoting healthier communities,” she stated. “Increasing prices on unhealthy commodities remains one of the most effective strategies to reduce their consumption and associated health risks, including addiction and premature death.”

    Her remarks echoed the growing recognition of Parliament’s proactive legislative stance—one that aligns with the nation’s development vision and its commitment to achieving the Sustainable Development Goals (SDGs).

    Ethiopian State Minister of Health H.E. Dr. Dereje Duguma on his part warned that misleading narratives from the tobacco industry persist—particularly claims that more than 50% of the tobacco market has turned illicit post-legislation. He stressed the importance of evidence-based policymaking and pledged the Ministry’s continued collaboration with Parliament, WHO, and all development partners to strengthen tax administration and uphold Ethiopia’s progress toward UHC and NCD control.

    Delivering a keynote address, Dr. Owen Laws Kaluwa, WHO Representative to Ethiopia, praised Ethiopia’s leadership in adopting bold and effective non-traditional mechanisms to raise additional funds for the country. “Stronger health systems enable countries to allocate scarce resources to their most pressing priorities,” Dr. Kaluwa said. “The 2020 excise tax legislation remains one of the most impactful policy tools for reducing the consumption of harmful products while boosting domestic revenue.”

    Dr. Kaluwa highlighted that WHO’s support to Ethiopia is part of a multi-year project on health taxes implemented in collaboration with IPU and funded by the Norwegian Government. As a priority country in this initiative, Ethiopia is receiving targeted technical assistance for policy analysis, tax implementation, and improved access to NCD treatment and care.

    Throughout the workshop, MPs and parliamentary technical staff deliberated on the latest global and national evidence on the effectiveness of health taxes. Participants engaged in hands-on sessions using updated policy briefs, data, and technical tools designed to inform legislative decisions and sustain tax implementation in the long term.

    Key discussions focused on the importance of Parliament’s role in maintaining robust tax systems, supporting annual adjustments, and shielding policy development from industry interference. Participants reaffirmed their commitment to advancing fiscal policies that prioritize public health and social equity.

    Health taxes have gained wider recognition globally as part of a broader push to combat NCDs—conditions such as cardiovascular disease, cancer, diabetes, and other chronic illnesses that account for more than 70% of global deaths and disproportionately affect low- and middle-income countries. Ethiopia’s approach—grounded in science, backed by policy, and supported by partners—demonstrates how strategic legislation can serve both public health and economic resilience.

    Looking ahead, WHO Ethiopia reaffirmed its dedication to working alongside Parliament, the Ministry of Health, the Ministry of Finance, and other stakeholders to reinforce Ethiopia’s health financing landscape. This includes ensuring that health taxes are not only implemented but effective, efficient, and accountable public financial management systems are necessary for the additional revenues to reach and be accountable for expenditure objectives.

    “Health taxes are not just a revenue tool—they are a health-saving, life-preserving measure,” Dr. Kaluwa concluded. “Ethiopia’s continued leadership in this space is not only commendable but also offers a blueprint for the region and beyond.”

    As the country continues its path toward UHC, Ethiopia’s experience highlights the power of political commitment, intersectoral collaboration, and strategic investment in health. The success of its health tax policy and administration illustrates how even modest fiscal interventions can yield transformative outcomes—saving lives, strengthening systems, and building a healthier future for all.

    – on behalf of World Health Organization (WHO) – Ethiopia.

    MIL OSI Africa –

  • MIL-OSI New Zealand: Industry Skills Boards

    Source: Tertiary Education Commission

    This page explains the establishment of new Industry Skills Boards (ISBs), how to apply to become a board member, and the role of Establishment Advisory Groups in preparing for the ISBs’ launch in January 2026.
    This page explains the establishment of new Industry Skills Boards (ISBs), how to apply to become a board member, and the role of Establishment Advisory Groups in preparing for the ISBs’ launch in January 2026.

    On this page:

    Overview of the ISBs’ coverage
    In April and May 2025, the Government consulted on a proposed model for the number and coverage groupings of ISBs. The consultation included a proposal to move the coverage for some sectors (creative industries and IT) to the New Zealand Qualifications Authority (NZQA).
    Thank you to the groups and individuals that made submissions on the proposals. Your views helped inform final decisions by the Government on the number and coverage of ISBs.
    We received 521 submissions on the proposals. Following this consultation, the Government has agreed (subject to the passing of legislation) to establish eight ISBs.
    The agreed ISBs will have the following broad coverage areas:

    Automotive, transport and logistics
    Construction and specialist trades
    Food and fibre (including aquaculture)
    Health and community
    Infrastructure
    Manufacturing and engineering
    Services
    Electrotechnology and information technology.

    Industry Skills Board
    Example sectors within industry coverage

    Automotive, transport and logistics

    Automotive mechanics, commercial road transport, logistics, maritime

    Construction and specialist trades

    Carpentry, flooring, plumbing, gasfitting and drainlaying, roofing, scaffolding

    Food and fibre (including aquaculture)

    Agriculture, forestry, horticulture, aquaculture

    Health and community

    Aged care, community health and support, funeral services

    Infrastructure

    Electrical supply, road construction, telecommunications, water infrastructure, composites, energy, mining, quarrying

    Manufacturing and engineering

    Food and beverage manufacturing, mechanical engineering, textiles, rail operations, wood manufacturing

    Services

    Business services, creative arts, hairdressing and barbering, hospitality, recreation, retail, tourism

    Electrotechnology and information technology

    Electrotechnology, electronics, communications technology, computing

    All industries will be covered by ISBs. NZQA will not initially take over any industry coverage. 
    In the next few months, Establishment Advisory Groups will consult with industry regarding the detailed coverage areas of each ISB. This will then be set out in the Order in Council that will formally establish each ISB.
    Overview of the Establishment Advisory Groups
    Prior to being established, each ISB will have a dedicated Establishment Advisory Group (EAG) that will be responsible for ensuring the ISB can successfully stand up, as an organisation, on day one.
    There will be various decisions that the governing body of each new ISB will need to make on the day the organisation is established. Their ability to make the required decisions promptly will be essential to the success of their organisation and their ongoing accountability and performance.  
    Until the legislation is passed, there are limits on how much work can be done in advance.
    The TEC has confirmed the appointment of members to the EAGs. These members were nominated by industry, ensuring that the system is responsive to industry needs.
    The EAG members will attend an induction in late July. Following induction, each EAG will meet monthly to make key decisions to be ratified by its Industry Skills Board once it has been appointed, including:

    appointing a chief executive-designate
    preparing day one documentation including delegations
    agreeing banking arrangements
    developing key policies
    determining an organisational structure and industry engagement model for making operational arrangements for day one, eg, shared services, lease of premises, systems etc.
    agreeing processes with relevant organisations on the transfer of assets and staff
    assisting the TEC with the consultation on key content for Orders in Council.

    TEC will provide support to every EAG, including advice and administrative support.
    Detailed coverage consultation
    One area that EAGs will focus on in the next few months is working with industry to determine the detailed coverage areas of each ISB.  The details of this consultation are not yet finalised but EAGs will communicate directly with industry on these matters.
    This information will then be set out in the Order in Council (OIC) that will formally establish each ISB. The OICs will need to be approved by Cabinet after the legislation has been passed.
    Apply to be a member of the first ISBs
    We have confirmed the members of the EAGs who will work towards setting up Industry Skills Boards on 1 January 2026.
    The TEC is now inviting industries to nominate representatives for appointment to the first ISBs. These boards will be in place from 1 January 2026.
    Candidates will need strong governance and change management skills, an industry background, and an understanding of education and training.
    On each ISB, industry-nominated members will work alongside two members appointed by the Minister.
    What do nominees need?
    Candidates are expected to have significant governance experience combined with strategic leadership experience. Collectively, the members of each ISB will need:

    experience of strategic planning, including financial planning and sustainability
    financial management experience, including capital asset management
    a well-tuned understanding of risk
    experience in maintaining high standards while managing large-scale change
    experience of effectively monitoring organisational performance in a governance or senior management role
    experience in industry leadership, and extensive knowledge of, and connections within, industry
    an understanding of education and training.

    Who can nominate a candidate?
    Industry bodies can nominate candidates. This ensures candidates have the backing of industry. Industry bodies must obtain the permission of the candidate to be nominated.
    How to nominate a candidate
    To nominate a candidate, please complete the Industry Skills Board Member Nomination Form.
    Nominations must be received before 29 August 2025.

    MIL OSI New Zealand News –

  • MIL-OSI: Announcement of Q2 2025 Financial Results on Thursday, July 31, after market close

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – July 17, 2025

    Q2 2025 financial results and conference call

    Viridien will announce its second quarter 2025 results on Thursday, July 31, after market close.

    • The press release and presentation will be made available on www.viridiengroup.com at 5.45 pm (CET)
    • An English-language conference call is scheduled at 6.00 pm (CET) on the same day

    Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.

    A replay of the conference call will be available starting the following day, for a period of 12 months, in audio format on the Company’s website www.viridiengroup.com.

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,400 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Contacts

    Attachment

    The MIL Network –

  • Sensex, Nifty open flat amid search for fresh market triggers

    Source: Government of India

    Source: Government of India (4)

    Indian equity markets opened on a muted note Thursday morning as investors awaited new cues to help break the prevailing consolidation phase.

    The BSE Sensex dipped slightly by 15 points to open at 82,619, while the NSE Nifty edged down by 2 points to 25,210. Despite the cautious start in benchmark indices, investor interest remained strong in the broader markets. The Nifty Midcap 100 rose 123 points (0.18%) to 59,741, while the Nifty Smallcap 100 gained 70 points (0.37%) to trade at 19,210.

    Sector-wise, auto, pharma, FMCG, metals, real estate, energy, infrastructure, and public sector enterprises registered early gains. On the other hand, IT, PSU banks, financial services, and media stocks came under selling pressure.

    Among the Sensex constituents, Sun Pharma, M&M, Trent, Kotak Mahindra Bank, Tata Motors, NTPC, BEL, Titan, and Power Grid were among the top performers. Meanwhile, Tech Mahindra, ICICI Bank, Axis Bank, Infosys, and Hindustan Unilever were among the major laggards.

    Market analysts noted that expectations around an India-US interim trade deal have already been priced in, limiting chances for an immediate breakout. However, any unexpected tariff reductions—such as duties below 20%, possibly around 15%—could provide a fresh upward push.

    Most Asian markets were trading flat to slightly positive. Indices in Tokyo, Shanghai, Bangkok, and Jakarta posted gains, while Hong Kong and Seoul remained in negative territory.

    Wall Street closed higher on Wednesday, aided by positive sentiment across key sectors. Back home, foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹1,858 crore on July 16. In contrast, domestic institutional investors (DIIs) provided support to the market for the eighth consecutive session, purchasing shares worth ₹1,223 crore.

    While short-term movements remain range-bound, analysts believe the broader outlook remains constructive, provided critical support levels hold firm.