NewzIntel.com

Category: Economy

  • MIL-OSI Banking: Lessons from high inflation: tighter monetary policy, two new forecasting models and an open CNB

    Source: Czech National Bank

    High inflation must not be allowed to recur. Thanks to tight monetary policy, open communication and a strong koruna policy, the Czech National Bank (CNB) succeeded in taming double-digit inflation in 2022–2023 and returning it to the 2% target. It then undertook a monetary policy review to make itself better prepared for similar situations in the future. The CNB is now offering an inside look at the discussions behind the change in its approach to preparing key materials for the Bank Board’s monetary policy decision-making, the development of two new forecasting models and the strengthening of its research capacity. It has published on its website the Proceedings of the Czech National Bank Workshop on Monetary Policy: Inflation Targeting Frameworks Under Review, featuring a foreword by CNB Governor Aleš Michl.

    Three years ago, in July 2022, inflation in the Czech Republic stood at 17.5%. The CNB’s forecasting model at the time was recommending further rate hikes above the then level of 7%, but the Bank Board, under the leadership of Governor Aleš Michl, opted for a different strategy. It decided to keep interest rates unchanged until it was confident that inflation was on track to return to the target, and communicated this intention openly to the public and markets. It also supported a strong koruna policy.

    This approach resulted in the strongest exchange rate of the koruna against the euro in history and the tightest monetary conditions in 20 years in spring 2023. Inflation dropped sharply to near the 2% target in January 2024. The average inflation rate for 2024 as a whole was 2.4%, the lowest since 2018.

    The CNB has now published the proceedings of the international Czech National Bank Workshop on Monetary Policy: Inflation Targeting Frameworks Under Review. This concludes the first phase of the external review of its monetary policy analytical and modelling framework. The Bank Board initiated this review in response to the turbulent inflation episode of 2022–2023.

    In his foreword to the proceedings, Governor Aleš Michl presents the rationale behind the decision to openly review the CNB’s monetary policy analytical framework and summarises the Bank’s approach to tackling inflation. He provides a detailed account of the Bank Board’s strategy during the period when inflation neared 18%, noting that traditional macroeconomic models underestimated the impact of global shocks and often failed to forecast inflation accurately. For the first time in its history, the CNB commissioned three independent external reviews of its modelling framework. These focused on the forecasting performance of the core model, its suitability as a sole forecasting tool, and the interaction between monetary and fiscal policy. According to the Governor, a central bank must be able to learn from the past and adapt its tools to a new reality in which the economy is affected by unexpected and difficult-to-model factors. The review of the modelling framework is therefore a key step towards ensuring future price stability.

    Based on the recommendations of the review teams, the CNB has decided to expand its modelling framework. It will develop two new alternative models to complement its existing tools, enabling the Bank to better manage forecast uncertainty and respond to hard-to-predict economic shocks. This aligns with the practice of many other central banks which routinely use multiple forecasting models. The first components are expected to be ready for internal testing in late 2025 and early 2026, with development of the new models continuing throughout 2026.

    The reviewers also recommended strengthening the CNB’s research and data analytics capabilities. On 1 January 2025, the CNB established a new Research and Statistics Department, replacing the former Statistics and Data Support Department. An important task for the new department is to develop alternative macroeconomic models. It will also focus on enhancing the CNB’s data infrastructure and expanding the role of research beyond model development.

    The final versions of all the external evaluations were published on the CNB website in November 2024. In April 2025, the CNB presented these evaluations in detail, along with the conclusions of the first phase of the monetary policy review, at the international Czech National Bank Workshop on Monetary Policy: Inflation Targeting Frameworks Under Review. The outputs of this conference are now available in the Proceedings of the Czech National Bank Workshop on Monetary Policy: Inflation Targeting Frameworks Under Review. In addition to contributions from domestic and international experts – including the former head of the BIS Monetary and Economic Department Claudio Borio and ESCB Monetary Policy Committee Chair Óscar Arce – the publication features a foreword by CNB Governor Aleš Michl summarising the CNB’s approach to monetary policy during the period of elevated inflation and the steps it took to bring inflation down.

    Jakub Holas
    Director, CNB Communications Division

    Related links

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: MHRA CEO Lawrence Tallon welcomes Life Sciences Sector Plan

    Source: United Kingdom – Government Statements

    News story

    MHRA CEO Lawrence Tallon welcomes Life Sciences Sector Plan

    The Life Sciences Sector plan was released today (16 July 2025)

    “I welcome the publication of the Life Sciences Sector Plan and fully support its ambition to make the UK a global leader in life sciences and a country where innovation delivers for everyone.

    “It’s great to see the MHRA is recognised as a pivotal partner in delivering the plan’s vision – by supporting innovation, protecting public health, and making the UK a global destination for innovators to research, develop and launch cutting-edge medical products.

    “Working with our partners across the sector, we will continue to enable safe and effective innovation that benefits patients, the public, and the economy.”

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI: HTX Rolls Out Multi-Layered Incentives to Welcome Users Into the Next Frontier in the Golden Age of Stablecoins

    Source: GlobeNewswire (MIL-OSI)

    PANAMA CITY, July 16, 2025 (GLOBE NEWSWIRE) — HTX, a leading global cryptocurrency exchange is launching a series of stablecoin-focused campaigns to accelerate user onboarding and expand stablecoin adoption across its platform, positioning itself at the forefront of a structural evolution in the crypto economy. This move comes as global financial institutions like Mastercard and Morgan Stanley rapidly enter the stablecoin market, following the implementation of Hong Kong’s Stablecoins Bill and the U.S. GENIUS Act. These initiatives aim to leverage favorable global regulatory trends and offer a comprehensive range of rewards, from airdrops to trading bonuses.

    Campaign 1: New Users Exclusive — Draw up to 200 USDT Instantly after Signup

    From July 7, 16:00 to July 24, 15:59 (UTC), new users who register on HTX will receive a free lucky draw chance to win up to 200 USDT. Completing additional tasks, such as initial deposit, spot trade, or futures trade, can unlock further rewards for each new user, totaling up to 700 USDT. Daily spot and futures trading challenges provide even more bonuses. Moreover, completing the exclusive limited-time challenges can net up to 600 USDT.

    *Event details: https://www.htx.com/en-us/welfare/

    Campaign 2: Refer Friends and Share a $100,000 Stablecoin Prize Pool

    Between July 9, 10:00 and July 20, 10:00 (UTC), invite friends to register and trade on HTX, both inviters and their invitees will earn rewards in USD1, USDC, USDT, and more. The more friends you refer, the more you can earn! Upon successful signup and login by your invitee, you’ll receive a Mystery Box worth up to 20 USDT. If your invitee reaches a qualifying trading volume, you’ll snap three additional Mystery Boxes, and your friend will unlock two more. Each box contains rewards worth up to 1,500 USDT. Additionally, you can earn up to a 20% boost on your referral bonus by inviting a certain number of valid invitees, i.e. new users who sign up on HTX using your referral link and reach a cumulative trading volume of ≥10 USDT on designated USD1, USDT, USDC pairs during the event. Each inviter can get up to 600 USDT from the $50,000 prize pool.

    *Event details: https://www.htx.com/support/25006291608056

    Campaign 3: Trade Spot USD Stablecoins and Share $100,000 in Rewards

    From July 10, 10:00 to July 24, 10:00 (UTC), trade eligible stablecoin pairs including BTC/USD1, ETH/USD1, and BTC/USDT to claim your share of a $100,000 prize pool. New users completing trading tasks can win up to 5,000 USDT in token airdrops and Cashback Vouchers. Deposit USD1 to HTX from external wallets and split a $5,000 reward pool based on net deposit volume. In addition, trade specified stablecoin pairs and join the leaderboard for a chance to win up to 12,000 USDT. There is a noteworthy chance to win a Xiaomi YU7 SUV by joining the team trading contest.

    *Event details: https://www.htx.com/support/75006190718889

    As global stablecoin regulations begin to crystallize, these assets are becoming the primary bridge between traditional finance and the decentralized future. HTX is aligning with this macro trend by launching a diversified suite of user incentives designed to lower the entry barrier and enhance capital efficiency across its stablecoin ecosystem.

    Looking ahead, HTX remains committed to compliance-driven innovation and product development. By offering a secure, seamless, and regulated trading environment, the platform aims to empower more users to unlock the full potential of decentralized finance.

    About HTX

    Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

    As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

    To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord. For further inquiries, please contact glo-media@htx-inc.com.

    Disclaimer: This content is provided by HTX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/153a3609-b8ef-4dae-97f9-070912172f1b

    The MIL Network –

  • MIL-OSI: Aurora Mobile’s GPTBots.ai Poised for Expansion with Nvidia H20 Chip Sales Resumption in China

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, July 16, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, is set to benefit from the recent announcement by Nvidia regarding the resumption of H20 chip sales in China. This development comes at a crucial time for Aurora Mobile’s AI agent platform, GPTBots.ai, which is experiencing rapid growth in the global market.

    The Significance of Nvidia H20 Chips
    Nvidia’s H20 chips are well-known for their prowess in AI inference tasks. With a computing performance of 148 TFLOPS@FP16 and 900 gb/s of interconnect bandwidth, these chips offer a competitive edge in the software ecosystem and interconnect capabilities. The H20 chip is currently the most powerful inference accelerator that can be legally exported to China under the existing US regulations. It is optimized for running existing AI models, which is of great relevance to GPTBots.ai’s operations.

    GPTBots.ai: A Growing Force in the AI Space
    GPTBots.ai has been making a strong impact in the technology sector with its end-to-end business platform. It allows businesses to connect AI bots with their enterprise data, services, and workflows. The platform offers a wide range of services, such as text to speech conversion, quote generation, and grammar checking. GPTBots.ai has already demonstrated its value across multiple industries, from retail and e-commerce to finance.

    In the retail and e-commerce space, GPTBots.ai has revolutionized customer support. By automating inquiries and providing 24/7 multilingual assistance, it has enhanced user experiences significantly. For instance, after implementing GPTBots.ai, a global gaming platform saw customer satisfaction rise from 70% to 95%, while average response time dropped from 10 minutes to just 15 seconds. GPTBots.ai significantly enhanced the overall customer experience. In the finance industry, GPTBots.ai streamlines customer service, compliance workflows, and risk analysis, reducing operational costs while improving regulatory adherence.

    Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “The resumption of Nvidia H20 chip sales in China is a game-changer for GPTBots.ai. We have seen robust demand for our AI agent platform, and with the enhanced computing power these chips deliver, we are confident that GPTBots.ai will not only meet but exceed our customers’ expectations. This milestone brings us significantly closer to our goal of becoming the leading global provider of AI-powered enterprise solutions.”

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In US
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI: Aurora Mobile’s GPTBots.ai Poised for Expansion with Nvidia H20 Chip Sales Resumption in China

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, July 16, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, is set to benefit from the recent announcement by Nvidia regarding the resumption of H20 chip sales in China. This development comes at a crucial time for Aurora Mobile’s AI agent platform, GPTBots.ai, which is experiencing rapid growth in the global market.

    The Significance of Nvidia H20 Chips
    Nvidia’s H20 chips are well-known for their prowess in AI inference tasks. With a computing performance of 148 TFLOPS@FP16 and 900 gb/s of interconnect bandwidth, these chips offer a competitive edge in the software ecosystem and interconnect capabilities. The H20 chip is currently the most powerful inference accelerator that can be legally exported to China under the existing US regulations. It is optimized for running existing AI models, which is of great relevance to GPTBots.ai’s operations.

    GPTBots.ai: A Growing Force in the AI Space
    GPTBots.ai has been making a strong impact in the technology sector with its end-to-end business platform. It allows businesses to connect AI bots with their enterprise data, services, and workflows. The platform offers a wide range of services, such as text to speech conversion, quote generation, and grammar checking. GPTBots.ai has already demonstrated its value across multiple industries, from retail and e-commerce to finance.

    In the retail and e-commerce space, GPTBots.ai has revolutionized customer support. By automating inquiries and providing 24/7 multilingual assistance, it has enhanced user experiences significantly. For instance, after implementing GPTBots.ai, a global gaming platform saw customer satisfaction rise from 70% to 95%, while average response time dropped from 10 minutes to just 15 seconds. GPTBots.ai significantly enhanced the overall customer experience. In the finance industry, GPTBots.ai streamlines customer service, compliance workflows, and risk analysis, reducing operational costs while improving regulatory adherence.

    Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “The resumption of Nvidia H20 chip sales in China is a game-changer for GPTBots.ai. We have seen robust demand for our AI agent platform, and with the enhanced computing power these chips deliver, we are confident that GPTBots.ai will not only meet but exceed our customers’ expectations. This milestone brings us significantly closer to our goal of becoming the leading global provider of AI-powered enterprise solutions.”

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In US
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI Economics: Sanction Update (1)

    Source: Isle of Man

    Financial Sanctions: Haiti

     

    The Authority has been notified that the Isle of Man Treasury, Customs and Immigration Division has recently published new and updated information regarding the above Sanction regimes.

    News Releases advising details of the updates to the above Sanctions regimes can be read on the IOM Government website (www.gov.im/news) at:

    Financial Sanctions: Haiti

    https://www.gov.im/news/2025/jul/09/financial-sanctions-haiti/

     

    Copies of extant Sanctions Notices, are available free of charge over the Internet from the Sanctions and Export Control page on the website of the Isle of Man Treasury, Customs and Immigration Division located at: https://www.gov.im/categories/tax-vat-and-your-money/sanctions-and-export-control

    Any queries regarding the above, or any Sanctions related matter should be addressed to the Isle of Man Treasury, Customs and Immigration Division, Sanctions Officer  on telephone number +44 (0) 1624 648109 or by email to sanctions@gov.im

     

    To receive regular updates about sanctions, including updates to the UK Sanctions List, you can subscribe to the RSS feed for sanctions & Excise news releases by copying and pasting this URL:

     

    https://gov.im/categories/tax-vat-and-your-money/sanctions-and-export-control/news/RssCategorisedNews

     

     into your RSS feed reader or Microsoft Outlook RSS feeds folder. You can also view our guidance on how to use RSS Feeds.

     

    The UK Treasury operate an ‘alert’ system to provide email updates as and when changes to sanctions are introduced.  Licenceholders may consider it very prudent to avail themselves of this service if they do not already have relevant notification processes in place. 

     

    This service can be found at   Subscribe to Office of Financial Sanctions Implementation updates

     

    FSA Ref: News/ENF/14/2025 – 2025

    MIL OSI Economics –

  • MIL-OSI Economics: Sanction Update (1)

    Source: Isle of Man

    Financial Sanctions: Haiti

     

    The Authority has been notified that the Isle of Man Treasury, Customs and Immigration Division has recently published new and updated information regarding the above Sanction regimes.

    News Releases advising details of the updates to the above Sanctions regimes can be read on the IOM Government website (www.gov.im/news) at:

    Financial Sanctions: Haiti

    https://www.gov.im/news/2025/jul/09/financial-sanctions-haiti/

     

    Copies of extant Sanctions Notices, are available free of charge over the Internet from the Sanctions and Export Control page on the website of the Isle of Man Treasury, Customs and Immigration Division located at: https://www.gov.im/categories/tax-vat-and-your-money/sanctions-and-export-control

    Any queries regarding the above, or any Sanctions related matter should be addressed to the Isle of Man Treasury, Customs and Immigration Division, Sanctions Officer  on telephone number +44 (0) 1624 648109 or by email to sanctions@gov.im

     

    To receive regular updates about sanctions, including updates to the UK Sanctions List, you can subscribe to the RSS feed for sanctions & Excise news releases by copying and pasting this URL:

     

    https://gov.im/categories/tax-vat-and-your-money/sanctions-and-export-control/news/RssCategorisedNews

     

     into your RSS feed reader or Microsoft Outlook RSS feeds folder. You can also view our guidance on how to use RSS Feeds.

     

    The UK Treasury operate an ‘alert’ system to provide email updates as and when changes to sanctions are introduced.  Licenceholders may consider it very prudent to avail themselves of this service if they do not already have relevant notification processes in place. 

     

    This service can be found at   Subscribe to Office of Financial Sanctions Implementation updates

     

    FSA Ref: News/ENF/14/2025 – 2025

    MIL OSI Economics –

  • MIL-Evening Report: Ken Henry urges nature law reform after decades of ‘intergenerational bastardry’

    Source: The Conversation (Au and NZ) – By Phillipa C. McCormack, Future Making Fellow, Environment Institute, University of Adelaide

    Former Treasury Secretary Ken Henry has warned Australia’s global environmental reputation is at risk if the Albanese government fails to reform nature laws this term.

    In his speech to the National Press Club on Wednesday, Henry said reform was needed to restore nature and power the net zero economy.

    Speaking as chair of the Australian Climate and Biodiversity Foundation, Henry said with “glistening ambition”, Australia can “build an efficient, jobs-rich, globally competitive, high-productivity, low-emissions nature-rich economy”.

    The speech comes at a crucial time for nature law reform in Australia. The new Environment Minister Murray Watt has committed to prioritise reform, after the Albanese government failed to achieve substantial changes to these laws in the last parliament.

    On Wednesday, Henry condemned previous failed attempts to reform the laws. He described delays in improving environmental management as “a wilful act of intergenerational bastardry”.

    The need for fundamental reform

    The Albanese government abandoned efforts to pass important reforms in its first term.

    Environment Minister Murray Watt has committed to achieving reforms within 18 months, acknowledging “our current laws are broken”.

    In his speech on Wednesday, Henry agreed with this sentiment. He described the Environment Protection and Biodiversity Conservation Act as “a misnomer, if ever there was one”.

    Henry is both a former Treasury Secretary and former chair of National Australia Bank. He also wrote Australia’s most important white paper on tax reform.

    Henry has previously said environmental law reform could be a template for other essential, difficult law reform, such as fixing Australia’s broken tax system.

    He understands Australia’s broken environmental laws. In 2022-23, he led an independent review into nature laws in New South Wales. That review found the laws were failing and would never succeed in their current form.

    At the start of his speech on Wednesday, Henry came close to tears when he acknowledged Greens Senator Sarah Hansen-Young’s support for those who look after injured and orphaned native animals.

    As a bureaucrat in Canberra, Henry also used to rescue injured animals and nurse them back to health.

    Logging and land clearing for development destroys koala habitat.
    Pexels, Pixabay, CC BY

    Big challenges ahead

    As Henry noted on Wednesday, Australia faces enormous challenges. These include the need to rapidly build more housing and triple renewable energy capacity by 2030.

    But before building suburbs, wind farms, transmission lines, mines and roads, projects need to be assessed for their potential to harm the environment.

    Henry on Wednesday called for sweeping changes, drawing on Graeme Samuel’s 2019-20 review of the EPBC Act. The changes include:

    • genuine cooperation across all levels of government, industry and the community
    • high-integrity evidence to inform decision making
    • clear, strong and enforceable standards applied nationwide
    • an independent and trusted decision-maker, in the form of a national Environment Protection Authority
    • a natural capital market, which – if well-designed – could provide a financial incentive for nature restoration and carbon storage in the form of tradable credits.

    Without the reforms, Henry said, Australia would not “retain a shred of credibility” for two global commitments: reaching net zero emissions, and halting and reversing biodiversity loss.

    The net zero commitment is at risk because existing laws are not sufficient to protect carbon sinks, such as forests. The roll out of renewable energy is also being slowed by inefficient approvals processes.

    Henry said the concept of “ecologically sustainable development”, which seeks to balance economic, social, and economic goals, needs serious rethinking. This concept has been the foundation of environment policy in Australia, including the EPBC Act, for the past 30 years.

    Henry wrote the first Intergenerational Report for the federal government in 2002. He has criticised governments for allowing environmental destruction that will leave future generations worse off.

    He has variously described Australia’s failure to steward our natural resources as an intergenerational tragedy, as intergenerational theft, and a wilful act of intergenerational bastardry – claims he repeated on Wednesday.

    Making money grow on trees

    Henry grew up on the Mid North Coast of NSW where his father, a worker in the timber industry, helped log native forests.

    Land clearing is the main threat to Australian biodiversity, and preventing native vegetation loss would also cut greenhouse gas emissions.

    The foundation Henry chairs advocates for the protection and restoration of Australia’s native forests. Henry has previously backed a plan to store carbon in native forests, which would mean trees were protected and not cut down.

    In his Press Club address, Henry lamented ongoing land clearing, poor fire management in remnant forests, and logging of habitat for endangered species such as the koala and the greater glider. He also called for nature laws that enable projects to be delivered in a way that not only protects but also restores nature. For instance, he said carbon credits could help fund the Great Koala National Park proposed for NSW.

    Logging continues in old growth native forest.
    Chris Putnam/Future Publishing via Getty Images

    What’s the Australian government doing?

    Despite Murray Watt’s stated commitment to nature law reform, there are signs the environment may again come off second-best.

    At a recent meeting with key stakeholders, including industry and environment groups, Watt said compromise was needed. He warned environmental protections must come with streamlined project approvals “to improve productivity”.

    Henry on Wednesday acknowledged faster approvals were needed, saying:

    We simply cannot afford slow, opaque, duplicative and contested environmental planning decisions based on poor information mired in administrative complexity.

    But he said faster approvals should not come at a greater cost to nature. In his words:

    with due acknowledgement of the genius of AC/DC, there is no point in building a faster highway to hell.

    Henry said the current parliament has time to put the right policy settings in place. The remedies also enjoy broad stakeholder support. “We’ve had all the reviews we need,” he said. “All of us have had our say. It is now up to parliament. Let’s just get this done.”

    Phillipa C. McCormack receives funding from the Australian Research Council, Natural Hazards Research Australia, the National Environmental Science Program, Green Adelaide and the ACT Government. She is a member of the National Environmental Law Association and affiliated with the Wildlife Crime Research Hub.

    – ref. Ken Henry urges nature law reform after decades of ‘intergenerational bastardry’ – https://theconversation.com/ken-henry-urges-nature-law-reform-after-decades-of-intergenerational-bastardry-261167

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Ken Henry urges nature law reform after decades of ‘intergenerational bastardry’

    Source: The Conversation (Au and NZ) – By Phillipa C. McCormack, Future Making Fellow, Environment Institute, University of Adelaide

    Former Treasury Secretary Ken Henry has warned Australia’s global environmental reputation is at risk if the Albanese government fails to reform nature laws this term.

    In his speech to the National Press Club on Wednesday, Henry said reform was needed to restore nature and power the net zero economy.

    Speaking as chair of the Australian Climate and Biodiversity Foundation, Henry said with “glistening ambition”, Australia can “build an efficient, jobs-rich, globally competitive, high-productivity, low-emissions nature-rich economy”.

    The speech comes at a crucial time for nature law reform in Australia. The new Environment Minister Murray Watt has committed to prioritise reform, after the Albanese government failed to achieve substantial changes to these laws in the last parliament.

    On Wednesday, Henry condemned previous failed attempts to reform the laws. He described delays in improving environmental management as “a wilful act of intergenerational bastardry”.

    The need for fundamental reform

    The Albanese government abandoned efforts to pass important reforms in its first term.

    Environment Minister Murray Watt has committed to achieving reforms within 18 months, acknowledging “our current laws are broken”.

    In his speech on Wednesday, Henry agreed with this sentiment. He described the Environment Protection and Biodiversity Conservation Act as “a misnomer, if ever there was one”.

    Henry is both a former Treasury Secretary and former chair of National Australia Bank. He also wrote Australia’s most important white paper on tax reform.

    Henry has previously said environmental law reform could be a template for other essential, difficult law reform, such as fixing Australia’s broken tax system.

    He understands Australia’s broken environmental laws. In 2022-23, he led an independent review into nature laws in New South Wales. That review found the laws were failing and would never succeed in their current form.

    At the start of his speech on Wednesday, Henry came close to tears when he acknowledged Greens Senator Sarah Hansen-Young’s support for those who look after injured and orphaned native animals.

    As a bureaucrat in Canberra, Henry also used to rescue injured animals and nurse them back to health.

    Logging and land clearing for development destroys koala habitat.
    Pexels, Pixabay, CC BY

    Big challenges ahead

    As Henry noted on Wednesday, Australia faces enormous challenges. These include the need to rapidly build more housing and triple renewable energy capacity by 2030.

    But before building suburbs, wind farms, transmission lines, mines and roads, projects need to be assessed for their potential to harm the environment.

    Henry on Wednesday called for sweeping changes, drawing on Graeme Samuel’s 2019-20 review of the EPBC Act. The changes include:

    • genuine cooperation across all levels of government, industry and the community
    • high-integrity evidence to inform decision making
    • clear, strong and enforceable standards applied nationwide
    • an independent and trusted decision-maker, in the form of a national Environment Protection Authority
    • a natural capital market, which – if well-designed – could provide a financial incentive for nature restoration and carbon storage in the form of tradable credits.

    Without the reforms, Henry said, Australia would not “retain a shred of credibility” for two global commitments: reaching net zero emissions, and halting and reversing biodiversity loss.

    The net zero commitment is at risk because existing laws are not sufficient to protect carbon sinks, such as forests. The roll out of renewable energy is also being slowed by inefficient approvals processes.

    Henry said the concept of “ecologically sustainable development”, which seeks to balance economic, social, and economic goals, needs serious rethinking. This concept has been the foundation of environment policy in Australia, including the EPBC Act, for the past 30 years.

    Henry wrote the first Intergenerational Report for the federal government in 2002. He has criticised governments for allowing environmental destruction that will leave future generations worse off.

    He has variously described Australia’s failure to steward our natural resources as an intergenerational tragedy, as intergenerational theft, and a wilful act of intergenerational bastardry – claims he repeated on Wednesday.

    Making money grow on trees

    Henry grew up on the Mid North Coast of NSW where his father, a worker in the timber industry, helped log native forests.

    Land clearing is the main threat to Australian biodiversity, and preventing native vegetation loss would also cut greenhouse gas emissions.

    The foundation Henry chairs advocates for the protection and restoration of Australia’s native forests. Henry has previously backed a plan to store carbon in native forests, which would mean trees were protected and not cut down.

    In his Press Club address, Henry lamented ongoing land clearing, poor fire management in remnant forests, and logging of habitat for endangered species such as the koala and the greater glider. He also called for nature laws that enable projects to be delivered in a way that not only protects but also restores nature. For instance, he said carbon credits could help fund the Great Koala National Park proposed for NSW.

    Logging continues in old growth native forest.
    Chris Putnam/Future Publishing via Getty Images

    What’s the Australian government doing?

    Despite Murray Watt’s stated commitment to nature law reform, there are signs the environment may again come off second-best.

    At a recent meeting with key stakeholders, including industry and environment groups, Watt said compromise was needed. He warned environmental protections must come with streamlined project approvals “to improve productivity”.

    Henry on Wednesday acknowledged faster approvals were needed, saying:

    We simply cannot afford slow, opaque, duplicative and contested environmental planning decisions based on poor information mired in administrative complexity.

    But he said faster approvals should not come at a greater cost to nature. In his words:

    with due acknowledgement of the genius of AC/DC, there is no point in building a faster highway to hell.

    Henry said the current parliament has time to put the right policy settings in place. The remedies also enjoy broad stakeholder support. “We’ve had all the reviews we need,” he said. “All of us have had our say. It is now up to parliament. Let’s just get this done.”

    Phillipa C. McCormack receives funding from the Australian Research Council, Natural Hazards Research Australia, the National Environmental Science Program, Green Adelaide and the ACT Government. She is a member of the National Environmental Law Association and affiliated with the Wildlife Crime Research Hub.

    – ref. Ken Henry urges nature law reform after decades of ‘intergenerational bastardry’ – https://theconversation.com/ken-henry-urges-nature-law-reform-after-decades-of-intergenerational-bastardry-261167

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Africa: Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) Announces 20th Plenary Assembly in Rwanda

    Source: APO – Report:

    The Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) (https://SECAM.org) is pleased to announce its 20th Plenary Assembly, scheduled to take place from 30 July to 4 August 2025 in Kigali, Rwanda, under the theme: “Christ, Source of Hope, Reconciliation and Peace.” This Assembly, coinciding with the Jubilee Year, offers a moment of deep ecclesial grace to evaluate the life and mission of the Church in Africa and to set forth a visionary roadmap for the next 25 years (2025–2050).

    A Continental Ecclesial Milestone

    The Plenary Assembly of SECAM is the most important gathering of the Catholic Church in Africa and its Islands. Held every three years, it brings together a significant number of Cardinals, Archbishops, Bishops, priests, religious men and women, and lay faithful from across the continent and beyond. This 20th edition is expected to host approximately 250 participants from all 54 African countries and its islands, along with invited dignitaries and Church partners from other continents, making it a truly continental and global ecclesial event. It will serve as a privileged moment of reflection, communion, and decision-making for the life and mission of the Church in Africa.

    The Assembly will be presided over by His Eminence Fridolin Cardinal Ambongo Besungu, Archbishop of Kinshasa and President of SECAM. Building on the mandate of the 19th Plenary Assembly in Accra (July 2022), the Kigali Assembly will evaluate progress in strengthening synodality, institutional autonomy, theological foundations, and regional collaboration across the Church in Africa.

    Advancing a Shared Vision

    Since 2022, SECAM has worked through its Standing Committee and Secretariat to promote greater communion and mission through:

    • Advancing synodality and participation at all levels;
    • Strengthening institutional and financial self-reliance;
    • Enhancing theological reflection and pastoral care;
    • Fostering intercontinental and ecumenical partnerships;
    • Raising Africa’s voice on global issues such as climate change, justice, and peace.

    Addressing Pastoral and Cultural Realities

    One major issue under review will be the pastoral accompaniment of Catholics in polygamous unions, a complex cultural reality in African societies and beyond. SECAM has engaged theologians across the continent to explore this topic theologically and pastorally.

    The Assembly will also feature key presentations, including:

    • A theological reflection on the theme: “Christ, Source of Hope, Reconciliation and Peace”
    • A draft document entitled: “The Vision of the Church–Family of God in Africa and its Islands: 2025–2050”
    • A pastoral document on “Accompaniment of Persons in Polygamous Situations”

    These will be complemented by plenary discussions, working groups, liturgical celebrations, departmental reports, and a concluding message to the Church and society.

    The Twelve Pillars of the Church’s Future

    Earlier this year, in preparation for the Assembly, SECAM held a high-level seminar in Accra (April 2025) to develop a long-term vision for the African Church. Discussions centered around twelve key pillars:

    1. Evangelization (Catholic education and theological formation)
    2. A self-reliant Church;
    3. Family-based models of leadership;
    4. Missionary discipleship and synodality;
    5. Care for creation;
    6. Youth engagement and ecclesial renewal;
    7. Justice, peace, and integral human development;
    8. Ecumenism and interfaith dialogue;
    9. Digital evangelization;
    10. Health and well-being of God’s people;
    11. Liturgical life in African contexts;
    12. Church and political engagement.

    This strategic vision document will be presented for discussion and possible adoption by the bishops at the Kigali Assembly.

    Engaging Africa’s Socio-Political Challenges

    In keeping with its prophetic mission, SECAM will also assess current political and social dynamics across the regions of Africa, with a focus on:

    • Governance and public leadership;
    • Human rights and social justice;
    • Poverty and debt;
    • Climate and environmental stewardship;
    • Dialogue, peacebuilding, and interreligious relations;
    • Safeguarding and youth protection.

    – on behalf of Symposium of Episcopal Conferences of Africa and Madagascar (SECAM).

    For media inquiries or further information, please contact:
    communications.secam@gmail.com
    www.SECAM.org

    Rev. Fr. Rafael Simbine Júnior
    Secretary General, SECAM
    Accra, Ghana

    About SECAM:
    Founded in 1969 during Pope St. Paul VI’s historic visit to Africa, SECAM is the continental structure of the Catholic Church in Africa and Madagascar. Its mission is to foster communion, promote evangelization, and be the moral and spiritual voice of the Church across the continent.

    Its key departments include:

    • Commission for Evangelization;
    • Justice, Peace and Development Commission (JPDC);
    • Department of Social Communication.

    In addition, SECAM operates a Liaison Office to the African Union based in Addis Ababa to ensure Church participation in continental policymaking and advocacy.

    SECAM is composed of eight regional episcopal bodies:

    • ACEAC (Central Africa), ACERAC (Central Africa), AHCE (Egypt), AMECEA (Eastern Africa), CEDOI (Indian Ocean), CERNA (North Africa), IMBISA (Southern Africa), RECOWA-CERAO (West Africa).
    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Africa: Deploying technology to save the white rhino

    Source: Government of South Africa

    Deploying technology to save the white rhino

    Government has launched a strategy that seeks to rebuild the Kruger National Park’s white rhino population from just over 2 000 to 12 000 within the next decade by using technology.

    Government aims to monitor rhino herds daily using drones, GPS collars, and digital reporting systems to provide real-time data to enforcement teams.

    “Starting this year, 90 Rhino Monitors will be trained and deployed annually across Kruger National Park. They are not just protecting rhino. They are protecting livelihoods, family legacies, and the possibility of green jobs for a generation to come,” Forestry, Fisheries and the Environment Minister, Dr Dion George said on Tuesday.

    The Minister made these remarks during the official launch of the Rhino Renaissance Campaign at the Kruger National Park, which is grounded on 24/7 rhino tracking; biological management such as targeted dehorning; DNA tagging and genetic research; enforcement cooperation across provincial, national, and regional levels and, critically, resource mobilisation to sustain operations over the long term.

    With South Africa currently hosting the Group Twenty (G20) Presidency, this campaign has been adopted as a G20 Legacy Project to rally global support, both diplomatic and financial, to scale this work.

    South Africa assumed the G20 Presidency on 1 December 2024, which runs to 30 November 2025, under the theme: “Solidarity, Equality, and Sustainability”.

    “This work does not stand alone. We are fighting wildlife crime on every front. Our National Integrated Strategy to Combat Wildlife Trafficking is anchored in the Medium-Term Development Plan, the country’s roadmap for the next five years. 

    “This strategy brings together key government departments – including my department, Police, Justice, Border Management, Intelligence, [the] South African National Parks (SANParks) and the provincial conservation entities – in a united, multidisciplinary response. It also builds strong partnerships with the private sector, civil society, and communities on the ground,” George explained.

    Tackling wildlife crimes

    Fighting wildlife crime is one of the Department of Forestry, Fisheries and the Environment’s six core priorities. 

    “At its heart is a commitment to a fair and sustainable future – one where our iconic wildlife supports livelihoods, uplifts communities, and strengthens our national identity. 

    “The Rhino Renaissance Campaign is a vital part of this effort. It supports our vision of a fair industry for lions, leopards, elephants, and rhinos — a future where these species are not only protected but thrive alongside the people who live among them.
    “No country or sector can tackle this threat alone. South Africa is building strong enforcement networks across borders and finalising agreements with rhino horn destination countries,” the Minister said.

    Government is engaging partners such as Interpol, the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), the International Narcotics Control Board (INCB), and the Southern African Development Community (SADC) neighbours to strengthen intelligence-sharing and cross-border cooperation.

    South Africa’s response goes beyond law enforcement. It includes financial intelligence, anti-corruption efforts, and international diplomacy- because wildlife crime is deeply embedded in global criminal networks.

    Decline in rhino poaching

    As of the end of June, 195 rhinos had been poached across South Africa this year – a reduction of 35 compared to the same period in 2024.

    “While any loss is too many, this decrease signals that our intensified enforcement efforts are starting to have an effect. June recorded the lowest monthly poaching figures so far this year, with 22 rhinos killed nationwide. Here in the  Kruger, which is still a primary target for poachers, we lost 11 rhinos in both May and June, down from 17 in January and 30 in February.

    “These numbers are a stark reminder that the threat remains real and unrelenting. But they also show that progress is possible. Our rangers, enforcement teams, and intelligence units continue to work tirelessly on the front lines to protect our wildlife and hold the line,” the Minister said.

    Through rhino dehorning, South Africa removes the reasons rhinos are being killed in the first place.
    “Dehorning does not harm the animal. It saves its life. It buys us time – to restore numbers, upgrade security, and disrupt demand,” he explained.

    The country is already seeing green shoots which include the relocation of 2 000 rhinos from African Parks to safe havens across the country; Munyawana Conservancy and others are growing populations through rewilding; cross-border work is underway in Mozambique, Zimbabwe, and across the Greater Limpopo Transfrontier Conservation Area.

    Safe havens have been identified in Rwanda, Uganda, Kenya, Tanzania, and Botswana and collaboration between government and private wildlife owners in the Integrated Wildlife Zones has been enhanced. –SAnews.gov.za
     

    nosihle

    MIL OSI Africa –

  • MIL-OSI Africa: Creecy dissolves RAF board amid governance challenges

    Source: Government of South Africa

    Creecy dissolves RAF board amid governance challenges

    The Minister of Transport, Barbara Creecy, has decided to dissolve the Board of Directors of the Road Accident Fund (RAF) due to persistent governance and operational challenges that have beset the fund and significantly undermined its ability to discharge its statutory mandate.

    While the fund is grappling with governance challenges and concerns, which were further confirmed through internal oversight and regulatory engagements, the Minister reiterated on Tuesday that her department would continue to pursue all necessary measures to restore institutional stability.

    The Department of Transport has also committed to enhancing the RAF’s capacity to fulfil its statutory obligations to the public and ensure a speedy and equitable access to the Road Accident Benefit Scheme by the road accident victims.

    READ | Ministry of Transport to engage Road Accident Fund board

    Last month the RAF board suspended Collins Letsoalo as the Chief Executive Officer (CEO) for not attending a Standing Committee on Public Accounts (SCOPA) hearing in Parliament.

    Furthermore, SCOPA resolved to launch a full committee inquiry into allegations of maladministration, financial mismanagement, wasteful and reckless expenditure, and related financial misconduct at the entity.

    READ | SCOPA probes RAF for maladministration 

    SCOPA made this decision after months of repeated attempts by the committee to obtain truthful, complete information from the RAF Board and executive management to little avail.

    The department has flagged as a concern the inconsistent and, at times, reckless handling of the suspension of the CEO, which attracted a legal challenge and institutional uncertainty.

    Through an internal oversight and regulatory engagements, the department noted deep divisions within the Board itself, evidenced by most resolutions being passed through the use of casting votes, rather than consensus, reflecting a lack of cohesion in critical decision-making processes.

    The board failed to fill at least two critical executive positions, which are critical to the mandate of the fund, namely that of Chief Claims Officer and Head of Legal.

    Furthermore, the department identified the protracted and costly litigation pursued by the RAF on the application of accounting standards as a concern. This has resulted in further strain on the entity’s financial resources and capacity.

    The department said the frequent incurrence of default judgments against the RAF, exacerbates its contingent liabilities and weakens its financial sustainability.

    “This has resulted in the loss of confidence in the board’s ability to run the entity effectively. On 5 June 2025, the Minister issued letters to the eleven members of the RAF board, affording them the opportunity to make representations regarding her intention to dissolve the board due to their failure to discharge their fiduciary duties effectively. 

    “The representations were received and have been duly considered. Consequently, the board has been dissolved,” the department said.

    Interim measures and review

    A submission has been prepared requesting the Minister of Finance to appoint an interim functionary as Accounting Authority in accordance with the Public Finance Management Act.

    The proposed appointment is intended to prevent a governance vacuum while a new board is being constituted.

    “A draft public advertisement has been prepared to commence the process of appointing a new board, ensuring transparent and merit-based selection in line with applicable legislation. 

    “To support the development of a sustainable operational and governance model, the Minister has initiated the appointment of a panel of independent experts to review the RAF’s business processes and propose actionable recommendations. Members of the panel will be announced in due course.

    “Furthermore, a request has been made to the SIU [Special Investing Unit]  to establish if the current investigation under Proclamation 44 of 2024 covers the events of the last three months and if not, formally request the expansion of the scope to cover these events. 

    “The response from the SIU in this regard is eagerly awaited,” the department said. –SAnews.gov.za

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    MIL OSI Africa –

  • MIL-OSI Africa: Rise in e-commerce activity boosts SA’s supply chain sector

    Source: Government of South Africa

    Rise in e-commerce activity boosts SA’s supply chain sector

    Despite facing ongoing challenges, South Africa’s supply chain sector is experiencing growth fuelled by a surge in e-commerce and advancements in technology. 

    This is according to Deputy President Paul Mashatile, who was speaking at the opening ceremony of the China International Supply Chain Expo (CISCE) in Beijing on Wednesday. 

    “Our business communities have been resilient and adapting through strategies like diversifying suppliers, holding more inventory, and investing in digital transformation,” he told delegates.

    Mashatile is in China for a strategic working visit, which began on Monday. Its aim is to strengthen bilateral relations and enhance economic cooperation between the two nations. 

    The Deputy President participated in the CISCE at the invitation of Ren Hongbin, the chairperson of the China Council for the Promotion of International Trade (CCPIT). The prestigious event highlights the latest advancements in supply chain management. 

    Mashatile said this high-level expo is essential for both countries, as it fosters trade, investment, cooperation, innovation and learning within the global supply chain ecosystem.

    “South Africa is committed to strengthening global supply chains and fostering resilience in the face of challenges. In today’s rapidly changing world, the global supply chain landscape is facing unprecedented challenges, from natural disasters to political upheavals.” 

    He assured the expo that government has also adopted policies and strategies that are conducive for businesses to thrive. 

    “We understand the importance of building robust supply chains that can withstand disruptions and ensure the efficient flow of goods and services.

    “Our diverse economy and strategic location make us a natural gateway for trade and investment, connecting Africa to the rest of the world.” 

    The Deputy President described China as an essential partner in South Africa’s economic journey, recognising significant opportunities for collaboration and mutual growth.

    “Together, we can leverage our strengths and capabilities to further build supply chains that are not only efficient and cost-effective but also sustainable and resilient.

    “The fact that China and South Africa have a strong desire to diversify and expand trade between Africa and China is crucial to our efforts to create a solid supply chain.” 

    Mashatile said South Africa’s export portfolio to China comprises mainly basic commodities. 

    “While the trade volumes confirm South Africa’s natural endowment, the heavy slant towards mineral-based exports belies our advanced infrastructure, our diversified industrial base, and our leading service sectors.” 

    Showcasing unique SA offerings

    The South African government delegation was accompanied by 30 manufacturers and producers of uniquely South African products and services. 

    These products and services showcase the diversity of South African exports, ranging from ethically sourced and clean cosmetics comprising pure, natural extracts, as well as durable electro-technical equipment that has passed the tests of extreme African climate conditions. 

    “Naturally, our offering would not be complete without the companies that are showcasing the finest of South African clothing, leather and footwear.  

    “We are exceptionally proud of the delegation that comprises plastics, chemical and mining engineering firms, whose services have met the Chinese standards, such that they have been able to jointly complete infrastructure projects with Chinese firms.” 

    The Deputy President believes that the expo is instrumental in linking up Chinese buyers and importers with the South African producers at the stands today. 

    “One of the most critical steps in South Africa’s journey to balancing its trade with China will be the extensive listing of South African products on e-commerce platforms like Alibaba.

    “We are also making efforts to ensure the placement of quality South African products in various Free Trade Zones throughout China.”

    Trade on the African continent

    With regards to the African Continental Free Trade Area (AfCFTA), the Deputy President said the project fosters economic integration and increased trade and investment within Africa, while also providing opportunities for China to deepen its engagement with the continent. 

    To diversify its energy balance, reduce carbon emissions and improve energy security, Mashatile said South Africa is also rapidly increasing its dependence on renewable energy sources. 

    “We have set ambitious targets for renewable energy deployment, particularly in solar and wind power.”

    Through the Renewable Energy Masterplan, government has set out how South Africa can set up a new manufacturing industry in renewable energy and battery storage value chains. 

    The masterplan also aims to attract at least R15 billion in investment by 2030 and train “green workers” for employment in 25 000 direct jobs. – SAnews.gov.za

    Gabisile

    MIL OSI Africa –

  • MIL-OSI United Kingdom: UK House Price Index for May 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK House Price Index for May 2025

    The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

    Boris Stroujko/Shutterstock.com

    The May data shows:

    • on average, house prices have risen 1.1% since April 2025
    • there has been an annual price rise of 3.9% which makes the average property in the UK valued at £269,000

    England

    In England the May data shows, on average, house prices rose by 1.3% since April 2025. The annual price rise of 3.4% takes the average property value to £290,000.

    • Yorkshire and the Humber  experienced the most significant monthly increase with a movement of 2.4%
    • London saw the biggest monthly price fall, with a reduction of -1.4%
    • The North East experienced the greatest annual price rise, up by 6.3%
    • The South West saw the lowest annual price growth, with a rise of 1.9%

    The regional data for England indicates that:

    Price change by region for England

    Region Average price May 2025 Annual change % since May 2024 Monthly change % since Apr 2025
    East Midlands £242,000 5 1.9
    East of England £340,000 4.2 2
    London £566,000 2.2 -1.4
    North East £159,000 6.3 2.2
    North West £209,000 3.3 2
    South East £381,000 2.1 0.4
    South West £304,000 1.9 1.5
    West Midlands £244,000 3.5 2.2
    Yorkshire and the Humber £204,000 5.1 2.4

    Repossession sales by volume for England

    The lowest number of repossession sales in March 2025 was in the East of England.

    The highest number of repossession sales in March 2025 was in the North East and North West.

    Repossession sales March 2025
    East Midlands 5
    East of England 2
    London 12
    North East 20
    North West 20
    South East 17
    South West 6
    West Midlands 6
    Yorkshire and the Humber 8
    England 96

    Average price by property type for England

    Property type May 2025 May  2024 Difference %
    Detached £473,000 £451,000 4.8
    Semi-detached £285,000 £273,000 4.3
    Terraced £239,000 £232,000 3.1
    Flat/maisonette £226,000 £225,000 0.7
    All £290,000 £281,000 3.4

    Funding and buyer status for England

    Transaction type Average price May 2025 Annual price change % since May 2024 Monthly price change % since April 2025
    Cash £276,000 2.5 1.4
    Mortgage £296,000 3.8 1.3
    First-time buyer £243,000 3.2 1.6
    Former owner occupier £353,000 3.6 1

    Building status for England

    Building status* Average price March 2025 Annual price change % since March 2024 Monthly price change % since February 2025
    New build £463,000 31.6 3.2
    Existing resold property £290,000 5.8 1.4

    *Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

    London

    London shows, on average, house prices decreased by 1.4% since April 2025. House prices have shown an annual price increase of 2.2% meaning the average price of a property is £566,000.

    Average price by property type for London

    Property type May 2025 May 2024 Difference %
    Detached £1,156,000 £1,106,000 4.5
    Semi-detached £716,000 £682,000 5
    Terraced £633,000 £615,000 3
    Flat/maisonette £453,000 £451,000 0.6
    All £566,000 £554,000 2.2

    Funding and buyer status for London

    Transaction type Average price May 2025 Annual price change % since May 2024 Monthly price change % since April 2025
    Cash £614,000 2.3 -1.9
    Mortgage £555,000 2.1 -1.2
    First-time buyer £483,000 1.5 -0.8
    Former owner occupier £708,000 3.3 -2.3

    Building status for London

    Building status* Average price March 2025 Annual price change % since March 2024 Monthly price change % since February 2025
    New build £620,000 23.8 3.3
    Existing resold property £552,000 0.4 -1.2

    *Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

    Wales

     Wales shows, on average, house prices rose by 0.5% since April 2025. An annual price increase of 5.1% takes the average property value to £210,000.

    There were 5 repossession sales for Wales in March 2025.

    Average price by property type for Wales

    Property type May 2025 May 2024 Difference %
    Detached £330,000 £312,000 5.7
    Semi-detached £209,000 £198,000 5.7
    Terraced £166,000 £158,000 5
    Flat/maisonette £130,000 £128,000 1.9
    All £210,000 £199,000 5.1

    Funding and buyer status for Wales

    Transaction type Average price May 2025% Annual price change % since May 2024 Monthly price change % since April 2025
    Cash £208,000 4.2 0.9
    Mortgage £210,000 5.6 0.3
    First-time buyer £180,000 5.3 0.5
    Former owner occupier £251,000 5 0.4

    Building status for Wales

    Building status* Average price March 2025 Annual price change % since March 2024 Monthly price change % since February 2025
    New build £385,000 26.5 1.4
    Existing resold property £206,000 3.4 1

    *Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

    UK house prices

    UK house prices rose by 3.9% in the year to May 2025, up from the revised estimate of 3.6% in the 12 months to April 2025. On a non-seasonally adjusted basis, average house prices in the UK increased by 1.1% between April 2025 and May 2025, compared with a increase 0.8% from the same period 12 months ago (April 24 and May 2024).

    The UK Property Transactions Statistics showed that in May 2025, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 81,000. This is 11.8% lower than a year ago (May 2025). Between April 2025 and May 2025, UK transactions decreased by 25.1% on a seasonally adjusted basis.

    House price monthly increase was highest in Yorkshire and the Humber where prices increased by 2.4% in the year to May 2025. The highest annual growth was in the the North East, where prices increased by 6.3% in the year to May 2025.

    See the economic statement.

    The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.

    Access the full UK HPI

    Background

    1. We publish the UK House Price Index (HPI) on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. We will publish the June 2025 UK HPI at 9:30am on Wednesday 20 August 2025. See calendar of release dates.
    2. We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month’s UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.
    3. The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.
    4. Sales volume data is available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions that require us to create a new register, such as new builds, are more complex and require more time to process. Read revisions to the UK HPI data.
    5. Revision tables are available for England and Wales within the downloadable data in CSV format. See about the UK HPI for more information.
    6. HM Land Registry, Registers of Scotland, Land & Property Services/Northern Ireland Statistics and Research Agency and the Valuation Office Agency supply data for the UK HPI.
    7. The Office for National Statistics (ONS) and Land & Property Services/Northern Ireland Statistics and Research Agency calculate the UK HPI. It applies a hedonic regression model that uses the various sources of data on property price, including HM Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from the ONS and Northern Ireland Statistics & Research Agency.
    8. We take the UK Property Transaction statistics  from the HM Revenue and Customs (HMRC) monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. The number of property transactions in the UK is highly seasonal, with more activity in the summer months and less in the winter. This regular annual pattern can sometimes mask the underlying movements and trends in the data series. HMRC presents the UK aggregate transaction figures on a seasonally adjusted basis. We make adjustments for both the time of year and the construction of the calendar, including corrections for the position of Easter and the number of trading days in a particular month.
    9. UK HPI seasonally adjusted series are calculated at regional and national levels only. See data tables.
    10. The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three-month moving average has been applied to the latest estimate to remove some of this volatility.
    11. The UK HPI reflects the final transaction price for sales of residential property. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the ‘price’ represents a valuation.
    12. HM Land Registry provides information on residential property transactions for England and Wales, collected as part of the official registration process for properties that are sold for full market value.
    13. The HM Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (using a mortgage) or as a non-financed transaction (cash purchase).
    14. Repossession sales data is based on the number of transactions lodged with HM Land Registry by lenders exercising their power of sale.
    15. For England, we show repossession sales volume recorded by government office region. For Wales, we provide repossession sales volume for the number of repossession sales.
    16. Repossession sales data is available from April 2016 in CSV format. Find out more information about repossession sales.
    17. We publish CSV files of the raw and cleansed aggregated data every month for England, Scotland and Wales. We publish Northern Ireland data on a quarterly basis. They are available for free use and re-use under the Open Government Licence.
    18. HM Land Registry is a government department created in 1862. Its vision is: “A world-leading property market as part of a thriving economy and a sustainable future.”
    19. HM Land Registry’s purpose is: “We protect your land ownership and provide services and data that underpin an efficient and informed property market.”
    20. HM Land Registry safeguards land and property ownership valued at £8 trillion, enabling over £1 trillion worth of personal and commercial lending to be secured against property across England and Wales. The Land Register contains more than 26.5 million titles showing evidence of ownership for more than 89% of the land mass of England and Wales.
    21. For further information about HM Land Registry visit www.gov.uk/land-registry.
    22. Follow us on @HMLandRegistry, our blog, LinkedIn and Facebook

    Contact

    Press Office

    Trafalgar House
    1 Bedford Park
    Croydon
    CR0 2AQ

    Email HMLRPressOffice@landregistry.gov.uk

    Phone (Monday to Friday 8:30am to 5:30pm) 0300 006 3365

    Mobile (5:30pm to 8:30am weekdays, all weekend and public holidays) 07864 689 344

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Creative and AI sectors kick-off next steps in finding solutions to AI and copyright

    Source: United Kingdom – Government Statements

    Press release

    Creative and AI sectors kick-off next steps in finding solutions to AI and copyright

    Representatives of both sectors in newly formed expert working groups on AI and copyright.

    • Representatives of the creative industries and the AI sector to make up newly formed expert working groups on AI and copyright as part of Plan for Change. 
    • Groups will play a vital role in helping to drive forward practical, workable solutions. 
    • Expert groups launch today, as the Technology and Culture Secretaries Chair first round of talks in London. 

    The Technology and Culture Secretaries kickstart the next phase of work today (Wednesday 16 July) to help deliver a solution which will support AI innovation while ensuring robust protection for our creators and vibrant creative industries as part of the Plan for Change. 

    A consultation on the UK’s legal framework for copyright which explores how the government can deliver solutions supporting both the creative industries and the AI sector was launched in December last year, attracting 11,500 responses. Close collaboration on the issues raised across the debate has been central to the government’s approach – ensuring both sectors not only have the support they need to drive further growth, but that the British public can share in the successes of 2 sectors which are crucial to the Modern Industrial Strategy.

    Representatives of both the AI sector and creative industries have engaged widely with Ministers throughout the consultation process, and the formal launch of new, expert working groups will continue to ensure both sectors play a vital role in supporting the work which will drive forward practical, workable solutions to foster innovation and growth.

    Representatives of the creative and AI sectors will now gather in London in the first of a series of regular planned meetings, with the groups made up of key industry figures. They include representatives of:

    • News Media Association
    • Alliance for IP
    • Sony Music Entertainment
    • Publishers Association
    • The Guardian
    • Open AI
    • Amazon
    • Meta

    Today’s discussions mark the first in a series of planned talks, and will initially focus on the impacts, opportunities, and common ground in the AI and copyright debate, with their work then helping to inform next steps following the conclusion of the government’s consultation.

    Secretary of State for Science, Innovation, and Technology, Peter Kyle said: 

    I am determined to harness expert insights from across the debate as we work together to deliver a solution that brings the legal clarity our creative industries and AI sector badly need in the digital age.

    Today’s meeting and the formation of these expert working groups will continue to ensure all voices can be heard so we can reset and refocus on how we can deliver precisely that.

    The work we’ll be taking forward in the coming months will ensure we can work in partnership to deliver a fresh start for creatives and AI developers alike.

    Culture Secretary Lisa Nandy said: 

    Our world-class creative industries are a key part of our economy which create jobs and drive growth right across the country. These sectors have been recognised as a priority sector by the government and I am fully focused on supporting them to flourish.

    We have heard loud and clear the concerns from the creative industries around AI and copyright and these roundtables will give us another chance to consider the best way forward.

    We have committed to ensuring a copyright regime that values and protects human creativity, can be trusted and unlocks new opportunities for innovation across the creative sector and wider economy.

    Both sectors are a vital part of the government’s modern Industrial Strategy, and the AI and Copyright consultation considered a broad range of issues in the copyright debate, including how right holders can have a better understanding of how AI developers are using their material and how it has been obtained.  

    The consultation also explored how access to high-quality data can be improved for AI developers – bolstering their ability to innovate and drive the growth which underpins the government’s Plan for Change. 

    Today’s talks will also contribute to finalising Terms of Reference for the expert working groups moving forward as they feed into wider discussions with both sectors.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Russian-Armenian educational partnership: the second launch of the course “Fundamentals of project activities” with the Polytechnic University

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    The Russian-Armenian University in Yerevan held the final defense of student projects completed within the framework of the course “Fundamentals of Project Activity” (OPA), which SPbPU and RAU have been implementing for the second year. 20 project teams were admitted to the in-person defense, and 19 of them successfully confirmed their results, demonstrating a noticeable qualitative growth compared to the pilot launch of the 2023/2024 academic year. 17 teams showed significant product and educational results.

    The course “Fundamentals of Project Activities” is part of the strategic partnership of the two universities and a key tool for implementing a practice-oriented education model. Since the 2024/2025 academic year, the discipline has become mandatory for five areas of study at the Institute of Economics and Business of RAU (economics, tourism, trade and hotel business, management) and was available optionally to students of other programs. Starting next year, at the initiative of the management and teachers of RAU, there will be even more areas of study where this discipline will be mandatory.

    The second launch of the course at RAU involved 12 mentor teachers, whose training began in December 2024. RAU teachers completed an intensive course on project activity tools and mentoring of student projects, and experienced the entire process of completing the course that students face.

    In February 2025, an introductory lecture was held for RAU students, where they learned about the structure and features of the upcoming course. The lecture was given by teachers of SPbPU and RAU: senior researcher of the International Academic Competence Center “Intelligent Enterprise Technologies” of the Digital Engineering School Anton Ambrazhey, senior lecturer of the Higher School of Project Activity and Innovation in Industry (IMMiT) Inna Seledtsova and head of the Department of Educational Policy and Quality Control of Education of RAU Ruzanna Airapetova.

    In April 2025, Anton Ambrazhey and Inna Seledtsova visited RAU on a working visit, discussed the intermediate results of the projects with the teams and course mentors, and gave recommendations for their further implementation and specification.

    A distinctive feature of the second launch of the course at RAU was the involvement of external customers (travel agency GoToDili, Green Rock, Green Training Center). The projects presented by the customers confirmed the trend that began to form during the first launch: the OPD course at RAU is capable of creating a new level and diversity of products in the tourism landscape of Armenia. Thus, most of the projects this year from internal and external customers of RAU were dedicated to the current needs of the tourism industry of Armenia, and the internal tasks of the university were also well presented as projects.

    According to the results of the 2024/2025 competition, the first place was taken by the project “Conducting an assessment of the quality of education by students of the Institute of Economics and Business”, completed by students of the Management program under the mentorship of the senior manager of the Department of Economics and Finance Iveta Stepanyan. The second place was taken by the project “Cultural and educational event “Russian Language Day”, mentored by Associate Professor of the Department of Russian Language and Professional Communication Liana Petrosyan. The third place went to the project “Green Tourism”, implemented under the guidance of the chief manager of correspondence courses of the IEB Lolita Tashchyan.

    “At the last defense, seventeen projects out of twenty received high scores. It is clear that a core of motivated mentors and students is being formed. Perhaps it is the personalized approach to the team, the high involvement of mentors that is the unique path of RAU project activities, along which we will continue to help colleagues develop,” noted Anton Ambrazhey.

    Inna Seledtsova emphasized the research significance of the work: “It is very important that many projects have come closer to understanding the true needs of the end users of their project results: someone went with a mentor to Dilijan to talk to tourists, someone conducted online surveys with business owners and identified an unobvious need for training, someone conducted surveys among students. We still have room to grow in the quality of such studies, which are a key link in understanding the problems of the project, but the first steps in this year’s research were very worthy.”

    At the final series of meetings with mentors, with the Vice-Rector of RAU for Academic Affairs Marina Khachatryan, with the Head of the Department of Educational Policy and Quality Control of Education of RAU Ruzanna Ayrapetova, the course support team from SPbPU recorded development vectors for the next academic year: localization of part of the educational content, adaptation of project activity artifacts to the specifics of RAU, strengthening of the internal PR course, training of new mentors in the fall of 2025 and the third launch of the course with updated materials in February 2026.

    An important result of the second launch of the course was the formation of the need for independent processes for implementing the “Fundamentals of Project Activity” at RAU. If in the first launches the course was supported, for the most part, within the framework of processes identical to SPbPU, then by the upcoming third launch not only the need for content localization has been identified, but also the need for our own student assessment system, for motivating them and mentors, for adaptation to online learning, since the OPD course became RAU’s first experience in mass online learning. All this will form the basis for the joint work of SPbPU and RAU in the next academic year.

    Interview with Anton Ambrazhey AndInna Seledtsova

    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 Asia-Pac: LCQ17: Monitoring operation of government departments and performance of civil servants

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Carmen Kan and a written reply by the Secretary for the Civil Service, Mrs Ingrid Yeung, in the Legislative Council today (July 16):

    Question:

         Regarding the monitoring of the operation of government departments and the performance of civil servants, will the Government inform this Council:

    (1) whether it has compiled statistics on the following information in respect of the investigations/audits conducted by the Office of The Ombudsman and the Audit Commission (Audit) since 2015 (set out in a table):

    (i) the subjects and names of government departments involved in the investigation reports/audit reports completed each year; and
    (ii) the number of investigations/audits conducted on various government departments, and the subjects on which investigations/audits had been conducted repeatedly (set out by department and year);

    (2) whether it knows which of the subjects examined by Audit mentioned in (1) have not yet completed the follow-up work in accordance with the recommendations of Audit and the Public Accounts Committee of this Council;

    (3) of the measures put in place by the Government to improve the operation of government departments which have been investigated/examined repeatedly and found to have problems; whether it has held the then responsible personnel (including accountability officials and civil servants) responsible and imposed punishments; if so, of the details, including the number of the relevant personnel being punished (with a breakdown by the investigated/examined subjects and government departments) and the form of penalty imposed; if not, the reasons for that, and whether it will study the establishment of the relevant mechanism;

    (4) whether the authorities have put in place an incentive mechanism for government departments with outstanding performance, so as to further increase the incentive of government personnel; if so, of the details; if not, the reasons for that, and whether they will study establishing the relevant mechanism; and

    (5) since the promulgation of the updated Civil Service Code (the Code) last year, of the number of civil servants who have been issued with notifications by the Government under section 12 of the Public Service (Administration) Order and not granted increments as a result of substandard performance (with a breakdown by rank), and how such number compares with the data before the Code was updated; of the measures in place to enhance the effectiveness of rewarding and punishing civil servants for their performance, e.g. whether it will study reforming the incremental point system to improve their overall performance; if so, of the details; if not, the reasons for that?

    Reply:

    President,

         The current-term Government has all along been result-oriented and citizen-centered, striving to provide quality public services, while at the same time deepening reforms and introducing various enhancement measures. According to the World Competitiveness Yearbook 2025 published in June this year, Hong Kong’s global competitiveness rises from the fifth place last year to the third. In terms of government efficiency, Hong Kong’s ranking rises from the third to the second place globally, indicating that the Hong Kong Special Administrative Region (HKSAR) Government’s policies are working, various policies have yielded results, and that Government departments are also operating highly effectively in providing the requisite services for the public, foreign investors and tourists, etc. To ensure that the quality of public services is maintained and further enhanced, we attach great importance to the investigation/audit reports and valuable advice provided by the Office of The Ombudsman (OMB) and the Audit Commission. Respective departments will examine and study the reports in detail and follow up on the relevant recommendations.

         Having consulted the Administration Wing and the OMB, the Financial Services and the Treasury Bureau and the Audit Commission, as well as the Constitutional and Mainland Affairs Bureau, my reply to the question raised by the Hon Carmen Kan is as follows:

    (1) Established under The Ombudsman Ordinance, the OMB is an independent statutory body responsible for investigation works on maladministration. It is not a government department nor an organisation under the HKSAR Government. Under the legislation, apart from investigating complaints lodged by complainants against alleged maladministration in government departments and public organisations, The Ombudsman is also empowered to initiate direct investigation operations where injustice may have been caused by maladministration. The direct investigation operations are prompted mainly by subjects of significant public interest. 

         Over the past decade, the OMB has completed a total of 98 direct investigation operations involving 40 departments, covering a wide range of areas including medical and health, transport, buildings, lands, planning, labour, environmental protection, food and environmental hygiene, education, social welfare, housing, culture, recreation and sports. In general, the OMB completes eight to ten direct investigation operations per year.

         During this period, the departments involved in the highest number of direct investigation operations were, in descending order, the Food and Environmental Hygiene Department (17 operations), the Lands Department (13 operations), the Housing Department (11 operations), the Transport Department (9 operations), the Environmental Protection Department (8 operations), the Home Affairs Department (8 operations), and the Leisure and Cultural Services Department (8 operations). 

         Each direct investigation operation has its own uniqueness. In the past decade, none of the direct investigation operations were repeated. However, the OMB has carried out different direct investigation operations on different topics under some major areas, such as public housing, tree management, water seepage, after-death arrangement.

         For instance, food and environmental hygiene, lands matters, public housing, transport and recreation and sports are major areas. Examples of direct investigations conducted by the OMB in the area of food and environmental hygiene include regulation of swimming pools, enforcement against defective sewage works of New Territories exempted houses, regulation over sale of food in hot/cold holding and non-pre-packaged beverages by means of vending machine, after-death arrangements; an example of direct investigations in the area of lands matters is enforcement against unauthorised land developments; direct investigation examples in relation to public housing include housing for senior citizens, combating abuse, recovery, refurbishment and reallocation of public housing, illegal parking in public housing estates; examples in the area of traffic and transport include arrangements for driving tests, on-street parking spaces designated for people with disabilities; examples in relation to recreation and sports include obstruction of passageways by bicycles owned by operators of bicycle rental services, as well as repairs and maintenance of outdoor recreational and sports facilities. The OMB has conducted direct investigation operations on such topics.

         It is worth noting that the frequency of the departments or their subject areas being involved in direct investigation operations might be affected by various factors including nature of service, service target and prevailing concern in the society. Therefore, the frequency of departments under investigation does not represent the operation situation or performance of the department.

         On the other hand, value for money audits are conducted by the Audit Commission to examine the economy, efficiency and effectiveness with which government departments and organisations have discharged their functions, and the results of such audits are published in the Director of Audit’s Reports. 

         In the past ten years, the Audit Commission completed a total of 174 value for money audits covering 63 government departments (including the relevant policy bureaux), covering a wide range of areas including public works, commerce and industry, social welfare, buildings, lands and planning, recreation, culture and facilities, education, employment and labour, transportation and environmental protection. In general, the Audit Commission completes over ten value for money audits per year.

         During the period, the departments involved in the highest number of audits in their respective policy areas were, in descending order, the Environment and Ecology Bureau (27 audits), the Development Bureau (18 audits), the Education Bureau (16 audits), the Culture, Sports and Tourism Bureau (14 audits), the Labour and Welfare Bureau (14 audits), the Transport and Logistics Bureau (13 audits), the Environmental Protection Department (12 audits), the Food and Environmental Hygiene Department (12 audits), and the Leisure and Cultural Services Department (12 audits).

         In the past ten years, the Audit Commission conducted two audits on the Dedicated Fund on Branding, Upgrading and Domestic Sales, involving the Commerce and Economic Development Bureau and the Trade and Industry Department. The audit findings were published in Chapter 1 of the Director of Audit’s Report No. 84 and Chapter 7 of the Director of Audit’s Report No. 66 respectively.

         The Director of Audit takes into account a number of factors, including the significance of the project, its timeliness, the amount of public money and risks involved, and the benefits to be brought about, in selecting the subjects for value for money audits and deciding on the priority for conducting the audits.

    (2) The number of value for money audits for which follow-up actions have not been completed in accordance with the recommendations of the Audit Commission or the Public Accounts Committee (PAC) of the Legislative Council (LegCo) is 42, as set out in Annex. The Government has been reporting regularly to LegCo on the progress of implementing the recommendations in the form of Government Minute and annual progress reports, and the Audit Commission discusses with the PAC annually the progress of implementation of the recommendations by the audited organisations.

    (3) and (4) The HKSAR Government adopts a proactive and positive attitude in following up the investigations of the OMB and the audit reports of the Audit Commission as well as the recommendations therein, and carefully scrutinises and takes on board the recommendations to improve the relevant policy measures and public services. As the Ombudsman explained to this Council at its meeting on July 8, some government departments are responsible for more services which are in close contact with the public, and hence they may receive more complaints, and as mentioned above, the Director of Audit will take into account factors such as the significance of the subject, its timeliness, the amount of public funds and risks involved, as well as the benefits to be brought about, in selecting the value for money audit subjects and in determining the priority for conducting the audit; therefore, a department’s performance cannot be measured solely on the basis of the number of investigations conducted by the OMB and the number of projects selected for audit. Some of the complaints received by the OMB involved no or only minor maladministration, and the OMB has successfully concluded 555 such cases by way of mediation. Departments and bureaux will strive to follow up on any areas of improvement in the economy, efficiency and effectiveness in the administrative operations, administrative systems, administrative procedures or in the discharge of duties identified by the OMB and the Audit Commission upon completion of their investigations/audits. The causes of departmental maladministration, inefficiency and ineffective use of resources are numerous and often not homogeneous. The Government as a whole also pays close attention to deep-seated issues, such as over-emphasis on procedures to the detriment of effective achievement of objectives. The current-term Government adopts a result-oriented approach at all levels, and this element is emphasised in our daily work as well as in the leadership training of senior and middle-level civil servants. If a civil servant is found to be incapable of performing his/her duties or to have a less than positive attitude towards his/her work in any of the investigations or audits, his/her supervisors will reflect this in his/her appraisal report, and if he/she is under consideration by a promotion board, the board will also take into account deficiencies in his/her ability or attitude towards work. If an investigation or audit reveals that a civil servant has misconducted himself/herself, the department will deal with the case in accordance with the civil service disciplinary mechanism. As regards politically appointed officials, the Government will act in accordance with the Code for Officials under the Political Appointment System.

         The current-term Government is committed to setting up a performance-based management system. In respect of awards, the Government endeavours to implement various commendation schemes for civil servants, including the Chief Executive’s Award for Exemplary Performance, the Secretary for the Civil Service’s Commendation Award Scheme, the Civil Service Outstanding Service Award Scheme, to give due recognition to departments and individuals with outstanding performances in different areas, encourage civil servants to strive for excellence and provide quality services to the public. The Civil Service Outstanding Service Award Scheme aims to recognise government departments and teams in providing exemplary services, encourage civil servants’ innovation, and promote a people-oriented and “one government” public service culture. The OMB has also set up an annual Ombudsman’s Awards Scheme to recognise the contribution of departments and public organisations to the improvement of public administration. Individual and team awards are also presented to public officers in recognition of their outstanding performance and professionalism in serving the public.

    (5) In September 2023, the Civil Service Bureau promulgated and implemented the streamlined mechanism of retiring civil servants in the public interest on the ground of persistent sub-standard performance (the streamlined mechanism) under Section 12 of the Public Service (Administration) Order (Section 12 action) to strengthen the management of staff with sub-standard performance. From September 2023 to the end of June 2025, a total of 16 officers were issued with Section 12 Notification due to their sub-standard performance. They were advised to improve their performance to the acceptable standard within a specified observation period; otherwise Section 12 action would be taken. Among these officers, three officers were ordered to be retired due to persistent sub-standard performance; two officers resigned upon receipt of the Section 12 Notification; two officers with Section 12 action suspended as their performance was improved to the acceptable standard; and the cases of nine officers are still ongoing. When compared to the five–year period from September 2018 to September 2023 (i.e. before the implementation of the streamlined mechanism) in which a total of 12 officers were issued with the notification under the old mechanism informing that Section 12 action would be taken (i.e. 2.4 officers per year on average), 16 officers have been issued with Section 12 Notification since the implementation of the streamlined mechanism, indicating a higher usage of the streamlined mechanism by departments. The average processing time has also been largely reduced from 31.5 months for cases processed within the five years before the implementation of the streamlined mechanism to 10 months after its implementation. Apart from the 16 officers mentioned above, some officers have resigned before the commencement of the observation period when they were informed of the department’s intention to initiate Section 12 action against them, and the Government does not keep information on the number of such cases. As regards the granting of increments, a total of 12 and 21 civil servants were not granted an increment due to unsatisfactory performance in 2023 and 2024 respectively.

         The civil service is an integral part of the HKSAR’s governance system. The current-term Government has been attaching great importance to the enhancement of the civil service management system. The Civil Service Code updated last year states that accountability for performance is one of the core values, and that civil servants should be held accountable for their decisions and actions in discharging their public duties. We will continue to push ahead with the relevant work.

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: First-hand view of peacemaking challenge in the ‘Holy Land’

    Occupied West Bank-based New Zealand journalist Cole Martin asks who are the peacemakers?

    BEARING WITNESS: By Cole Martin

    As a Kiwi journalist living in the occupied West Bank, I can list endless reasons why there is no peace in the “Holy Land”.

    I live in a refugee camp, alongside families who were expelled from their homes by Israel’s violent establishment in 1948 — never allowed to return and repeatedly targeted by Israeli military incursions.

    Daily I witness suffocating checkpoints, settler attacks against rural towns, arbitrary imprisonment with no charge or trial, a crippled economy, expansion of illegal settlements, demolition of entire communities, genocidal rhetoric, and continued expulsion.

    No form of peace can exist within an active system of domination. To talk about peace without liberation and dignity is to suggest submission to a system of displacement, imprisonment, violence and erasure.

    I often find myself alongside a variety of peacemakers, putting themselves on the line to end these horrific systems — let me outline the key groups:

    Palestinian civil society and individuals have spent decades committed to creative non-violence in the face of these atrocities — from court battles to academia, education, art, co-ordinating demonstrations, general strikes, hīkoi (marches), sit-ins, civil disobedience. Google “Iqrit village”, “The Great March of Return”, “Tent of Nations farm”. These are the overlooked stories that don’t make catchy headlines.

    Protective Presence activists are a mix of about 150 Israeli and international civilians who volunteer their days and nights physically accompanying Palestinian communities. They aim to prevent Israeli settler violence, state-sanctioned home demolitions, and military/police incursions. They document the injustice and often face violence and arrest themselves. Foreigners face deportation and blacklisting — as a journalist I was arrested and barred from the West Bank short-term and my passport was withheld for more than a month.

    Reconciliation organisations have been working for decades to bridge the disconnect between political narratives and human realities. The effective groups don’t seek “co-existence” but “co-resistance” because they recognise there can be no peace within an active system of apartheid. They reiterate that dialogue alone achieves nothing while the Israeli regime continues to murder, displace and steal. Yes there are “opposing narratives”, but they do not have equal legitimacy when tested against the reality on the ground.

    Journalists continue to document and report key developments, chilling statistics and the human cost. They ensure people are seen. Over 200 journalists have been killed in Gaza. High-profile Palestinian Christian journalist Shireen Abu-Akleh was killed by Israeli forces in 2022. They continue reporting despite the risk, and without their courage world leaders wouldn’t know which undeniable facts to brazenly ignore.

    Humanitarians serve and protect the most vulnerable, treating and rescuing people selflessly. More than 400 aid workers and 1000 healthcare workers have been killed in Gaza. All 38 hospitals have been destroyed or damaged, with just a small number left partially functioning. NGOs have been crippled by USAID cuts and targeted Israeli policies, marked by a mass exodus of expats who have spent years committed to this region — severing a critical lifeline for Palestinian communities.

    All these groups emphasise change will not come from within. Protective Presence barely stems the flow.

    Reconciliation means nothing while the system continues to displace, imprison and slaughter Palestinians en masse. Journalism, non-violence and humanitarian efforts are only as effective as the willingness of states to uphold international law.

    Those on the frontlines of peacebuilding express the urgent need for global accountability across all sectors; economic, cultural and political sanctions. Systems of apartheid do not stem from corrupt leadership or several extremists, but from widespread attitudes of supremacy and nationalism across civil society.

    Boycotts increase the economic cost of maintaining such systems. Divestment sends a strong financial message that business as usual is unacceptable.

    Many other groups across the world are picketing weapons manufacturers, writing to elected leaders, educating friends and family, challenging harmful narratives, fundraising aid to keep people alive.

    Where are the peacemakers? They’re out on the streets. They’re people just like you and me.

    Cole Martin is an independent New Zealand photojournalist based in the occupied West Bank and a contributor to Asia Pacific Report. This article was first published by the Otago Daily Times and is republished with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: First-hand view of peacemaking challenge in the ‘Holy Land’

    Occupied West Bank-based New Zealand journalist Cole Martin asks who are the peacemakers?

    BEARING WITNESS: By Cole Martin

    As a Kiwi journalist living in the occupied West Bank, I can list endless reasons why there is no peace in the “Holy Land”.

    I live in a refugee camp, alongside families who were expelled from their homes by Israel’s violent establishment in 1948 — never allowed to return and repeatedly targeted by Israeli military incursions.

    Daily I witness suffocating checkpoints, settler attacks against rural towns, arbitrary imprisonment with no charge or trial, a crippled economy, expansion of illegal settlements, demolition of entire communities, genocidal rhetoric, and continued expulsion.

    No form of peace can exist within an active system of domination. To talk about peace without liberation and dignity is to suggest submission to a system of displacement, imprisonment, violence and erasure.

    I often find myself alongside a variety of peacemakers, putting themselves on the line to end these horrific systems — let me outline the key groups:

    Palestinian civil society and individuals have spent decades committed to creative non-violence in the face of these atrocities — from court battles to academia, education, art, co-ordinating demonstrations, general strikes, hīkoi (marches), sit-ins, civil disobedience. Google “Iqrit village”, “The Great March of Return”, “Tent of Nations farm”. These are the overlooked stories that don’t make catchy headlines.

    Protective Presence activists are a mix of about 150 Israeli and international civilians who volunteer their days and nights physically accompanying Palestinian communities. They aim to prevent Israeli settler violence, state-sanctioned home demolitions, and military/police incursions. They document the injustice and often face violence and arrest themselves. Foreigners face deportation and blacklisting — as a journalist I was arrested and barred from the West Bank short-term and my passport was withheld for more than a month.

    Reconciliation organisations have been working for decades to bridge the disconnect between political narratives and human realities. The effective groups don’t seek “co-existence” but “co-resistance” because they recognise there can be no peace within an active system of apartheid. They reiterate that dialogue alone achieves nothing while the Israeli regime continues to murder, displace and steal. Yes there are “opposing narratives”, but they do not have equal legitimacy when tested against the reality on the ground.

    Journalists continue to document and report key developments, chilling statistics and the human cost. They ensure people are seen. Over 200 journalists have been killed in Gaza. High-profile Palestinian Christian journalist Shireen Abu-Akleh was killed by Israeli forces in 2022. They continue reporting despite the risk, and without their courage world leaders wouldn’t know which undeniable facts to brazenly ignore.

    Humanitarians serve and protect the most vulnerable, treating and rescuing people selflessly. More than 400 aid workers and 1000 healthcare workers have been killed in Gaza. All 38 hospitals have been destroyed or damaged, with just a small number left partially functioning. NGOs have been crippled by USAID cuts and targeted Israeli policies, marked by a mass exodus of expats who have spent years committed to this region — severing a critical lifeline for Palestinian communities.

    All these groups emphasise change will not come from within. Protective Presence barely stems the flow.

    Reconciliation means nothing while the system continues to displace, imprison and slaughter Palestinians en masse. Journalism, non-violence and humanitarian efforts are only as effective as the willingness of states to uphold international law.

    Those on the frontlines of peacebuilding express the urgent need for global accountability across all sectors; economic, cultural and political sanctions. Systems of apartheid do not stem from corrupt leadership or several extremists, but from widespread attitudes of supremacy and nationalism across civil society.

    Boycotts increase the economic cost of maintaining such systems. Divestment sends a strong financial message that business as usual is unacceptable.

    Many other groups across the world are picketing weapons manufacturers, writing to elected leaders, educating friends and family, challenging harmful narratives, fundraising aid to keep people alive.

    Where are the peacemakers? They’re out on the streets. They’re people just like you and me.

    Cole Martin is an independent New Zealand photojournalist based in the occupied West Bank and a contributor to Asia Pacific Report. This article was first published by the Otago Daily Times and is republished with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Mobile Mining Meets Bitcoin, PFMCrypto Brings BTC Cloud Mining to Mobile Devices

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 16, 2025 (GLOBE NEWSWIRE) — As Bitcoin’s ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of BTC-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine BTC remotely and receive daily BTC rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the Bitcoin economy through a streamlined, fully integrated platform.

    Explore the PFMCrypto website or download the app today.

    BTC Cloud Mining Is Here—Simple, Smart, and Rewarding:

    Traditionally known as the world’s first and most decentralized digital asset, Bitcoin now enters a new chapter with PFMCrypto’s latest innovation: easy-to-use cloud mining. Users can mine BTC directly or leverage PFMCrypto’s intelligent AI engine to automatically switch between the most profitable assets—including ETH, XRP, DOGE, USDC, and more—for optimized returns. All earnings are paid out daily in your chosen cryptocurrency, providing reliable income regardless of market fluctuations.

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    Whether you’re testing the waters or building a long-term portfolio, PFMCrypto provides low-risk, high-transparency contracts that deliver stable daily income in BTC.

    Click here to explore more BTC cloud contracts.

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    Start mining BTC now at: https://pfmcrypto.net 

    Or download the PFMCrypto mobile app (available for iOS & Android).

    BTC Mining for a Digital Future:

    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of BTC mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in BTC or diversify into major digital assets—all within a secure, fully remote environment.

    “Bitcoin has always been secure, decentralized, and globally trusted,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in Bitcoin’s future growth.”

    Markets may shift—but daily mining income can remain steady.

    Join the BTC mining revolution today at: https://pfmcrypto.net 

    The MIL Network –

  • MIL-OSI United Kingdom: Life Sciences Sector Plan to grow economy and transform NHS

    Source: United Kingdom – Executive Government & Departments

    Press release

    Life Sciences Sector Plan to grow economy and transform NHS

    The government has today (Wednesday 16 July) launched a bold new Life Sciences Sector Plan as part of the government’s flagship Industrial Strategy.

    The government has today (Wednesday 16 July) launched a bold new Life Sciences Sector Plan as part of the government’s flagship Industrial Strategy, setting out a ten-year mission to harness British science and innovation to deliver long-term economic growth and a stronger, prevention-focused NHS.

    The UK is already a global leader in life sciences, with the sector worth around £100 billion to the economy, and employing around 300,000 people. This plan, developed in close coordination with the government’s 10 Year Health Plan, doubles down on that strength – turning cutting-edge research into real-world results: new treatments, faster diagnoses, and more lives saved. It’s about making sure breakthroughs happen here – and stay here – creating jobs, improving lives in every part of the country, and driving growth.

    Life sciences’ critical importance to both driving economic growth and improving our health – 2 of the core elements of the Plan for Change – has been shown through the government’s action to date to support the sector. The Chancellor re-committed up to £520 million for the Life Sciences Innovative Manufacturing Fund at the Spending Review to pull investment into the UK, and red tape is being slashed to speed up clinical trials, while an up to £600 million investment will deliver a Health Data Research Service that will be unmatched globally – bringing the power of data to bear to unlock breakthroughs in the diagnosis and treatment of diseases.

    The plan sets out a comprehensive roadmap built around 3 core pillars:

    1. Enabling World-Class R&D – strengthening the UK’s leadership in science and discovery
    2. Making the UK an outstanding place to start, scale and invest – growing homegrown companies and attracting global capital
    3. Driving Health Innovation and NHS Reform – delivering better outcomes for patients and a more modern, preventative healthcare system

    6 bold actions to kickstart change

    The Life Sciences Sector Plan will be supported over the lifetime of the Spending Review by government funding of over £2 billion, alongside funding from UKRI and NIHR. Actions include:

    1. Unlocking NHS data to find new cures

    Up to £600 million investment to build the world’s most advanced health data system – helping scientists develop better treatments faster.

    2. Speeding up clinical trials

    Cutting red tape so patients can join trials sooner – and get access to life-changing medicines quicker.

    3. Backing British manufacturing

    Up to £520 million to invest in life sciences manufacturing projects – creating high-skilled jobs and making more treatments and medical devices here at home.

    4. Getting new treatments to patients faster

    Making regulation simpler and faster by boosting departmental support for the MHRA with additional investment – so doctors can use safe, effective innovations without delay.

    5. Helping doctors use cutting-edge tech

    A new NHS ‘passport’ to roll out proven tools faster – like AI cancer scanners or wearable devices that detect disease early.

    6. Backing brilliant UK firms to grow

    Helping fast-growing companies raise investment, scale up, and stay in the UK – with at least one major industry partnership secured every year.

    Built for delivery

    This Plan was shaped with input from over 250 organisations including doctors, scientists, NHS leaders and industry experts to ensure it delivers real impact. It builds on the strong foundations of the 10-Year Health Plan, extending its ambition by uniting health and growth interventions into a single, coherent strategy for the Life Sciences sector. Every action has clear goals and named leads. This is a Plan designed to deliver, not in isolation but as a vital part of the government’s broader Plan for Change.

    Early momentum 

    The plan builds on the Chancellor’s commitment to reduce regulatory costs by a quarter, with increased investment in the MHRA to accelerate approvals and improve efficiency. It aims to streamline MedTech market entry through closer coordination between the MHRA and NICE.  

    The government is also focused on strengthening the UK’s clinical research infrastructure by improving trial delivery, expanding patient access, and embedding research more effectively within the NHS. 

    We have already started delivering on key actions, from investing up to £600 million in the Health Data Research Service alongside Wellcome, through to committing over £650 million in Genomics England and up to £354 million in Our Future Health, while the rollout of ‘innovator passports’ will help speed up the adoption of new tech and treatments on the NHS. This is clear evidence of our commitment and confidence in life sciences as a driver of both economic growth and better health outcomes. 

    Why life sciences matter

    • Life Sciences is one of 8 priority sectors in the government’s Industrial Strategy – reflecting the sector’s high growth potential.
    • Life sciences companies employ over 300,000 people, with more than three-quarters of jobs outside London and the Southeast, supporting opportunity in every part of the UK.
    • The sector improves economic productivity by improving health. With long-term illness a major drag on workforce participation, better health leads directly to a stronger, more resilient economy.
    • The Life sciences sector attracts record levels of private investment. In 2023, the UK raised the third highest amount of life sciences equity finance in the world, behind only the US and China.
    • It is a UK export powerhouse -medicines and medical technologies were the UK’s third largest goods export by value in 2024.
    • And it is innovation-intensive, with 17% of all UK business R&D spend is in pharmaceuticals, the highest of any sector.
    • Artificial Intelligence (AI) is also revolutionising the Life Sciences sector across research, diagnostics, treatment, and manufacturing, reshaping how we prevent, treat, and manage disease. The potential economic impact is substantial, with McKinsey Global Institute estimating that AI could generate $60–110 billion annually for the pharmaceutical and medical-product industries alone .

    Chancellor of the Exchequer, Rachel Reeves, said:

    Our world-leading life sciences sector employs hundreds of thousands of people and is a powerhouse for economic growth that puts more money in people’s pockets. Our Plan for Change is ramping up this success story even further.

    The ten-year life sciences plan we have released today as part of our Industrial Strategy will cut red tape and deliver the investment we funded at the Spending Review so it can stay ahead of the curve globally and we can reap the economic rewards for years to come.

    Science and Technology Secretary Peter Kyle said:

    The life sciences sector is one of the crown jewels of the UK economy. It sits at the heart of both our Plan for Change, and our Modern Industrial strategy, as a unique catalyst for both economic prosperity, and better health outcomes for people across the UK.

    Moving in lockstep with industry, academia and our NHS, we will unleash this sector as a force for good and for growth. The suite of measures we’re announcing today will unlock its full potential — attracting global investment, accelerating innovation, and delivering breakthroughs that will make the UK healthier, wealthier, and even more open for business.

    Business Secretary Jonathan Reynolds said:

    We’re committed to making the UK a life sciences superpower, and our modern Industrial Strategy has earmarked it as one of 8 priority sectors so it can double down on our strengths and keep us at the cutting edge of innovation.

    This government is taking the bold action needed to help this £108 billion industry flourish and create new high-skilled, well-paid jobs right across the country, making our Plan for Change a reality.

    Health Secretary Wes Streeting said:

    This Life Sciences Sector Plan represents a pivotal moment in our mission to rebuild the NHS and shift our healthcare system from one that treats illness to one that prevents it.

    By bringing together the brilliance of British science with the power of our NHS, we’re not just improving healthcare outcomes – we’re building a stronger economy and creating jobs across the country.

    The £2 billion investment will help us make the most of our world-leading health data, speed up access to innovative treatments, and transform the experience of patients. This is how we deliver a health service fit for the future – by embracing innovation that saves lives, cuts waiting times, and makes the NHS sustainable for generations to come.

    The plan comes just days on the same day as the fourth “Made in the UK, Sold to the World” Roadshow, a government-led initiative designed to boost SME exports in the Life Sciences sector.

    The roadshow focuses on the 8 sectors highlighted in the modern industrial strategy, forming part of the government’s commitment to supporting high-growth industries with the greatest potential to create jobs, increase productivity, and drive long-term economic growth.

    Support for the Life Sciences Sector Plan

    Professor Sir John Bell, President of the Ellison Institute of Technology and UK Government Life Sciences Champion said: 

    With our world-leading science base, genomics capabilities and industrial heritage, our Life Sciences sector can truly be among the best globally, ensuring the UK is developing and benefiting from the technologies of the future. We must however move past high level ambitions. This plan, with an inbuilt, relentless focus on delivery, provides the vehicle to take us there.

    Deepak Nath, CEO of Smith+Nephew, said:  

    Smith+Nephew welcomes the publication of the government’s Life Sciences Sector Plan and its clear recognition of the critical role that medical technology plays in building a sustainable, high-performing NHS.  

    We are encouraged by the plan’s focus on the full life cycle of medical technologies – from research and development, and manufacturing, through to regulation, evaluation and adoption – and by the continued engagement with industry throughout its development.  We look forward to supporting the plan’s implementation.

    Dr Tony Wood, Chief Scientific Officer, GSK, said: 

    We welcome the government’s Life Sciences Sector Plan – in particular, the reforms to incentivise more UK clinical trials, establish a new Health Data Research Service and create a network of translational labs and clinics to accelerate drug discovery and development. These changes can bring unique competitive advantage to the country and make the UK a leader in future life sciences research.

    Tim Sheppard, SVP & GM, North Europe, IQVIA, said:

    IQVIA welcomes the Life Sciences Sector Plan and its bold ambition to realise  more investment in commercial R&D than any other country in Europe by 2030.

    Human data science and AI technology underpin our global leadership in commercial clinical research, we recognise the potential in the Plan for the Health Data Research Service to be a catalyst in the UK Government’s  commitment to create the  world’s most advanced and secure health data platform, enhancing the UK’s attractiveness for global trials and AI investment.

    The Life Sciences Sector Plan will strengthen IQVIA’s ability to offer its global life sciences sponsors a seamless and efficient development pathway from early phase trials to regulatory approval and enhance patient access to innovative treatments – improving patients’ lives and driving further economic growth in the UK.

    Steve Rotheram, Mayor of the Liverpool City Region, said: 

    The Liverpool City Region has a proud history of innovation and is fast becoming recognised as a powerhouse in health and life sciences – from pioneering infection and disease control to cutting-edge manufacturing.  

    This plan is a welcome step towards unlocking the sector’s full potential, and I’m confident our region will play a central role in delivering that ambition. With our world-leading assets in biomanufacturing, digital health and infectious disease research, we’re already demonstrating how innovation in our region can improve lives, create highly skilled jobs, and attract global investment. Backed by the right partnerships and investment, we can help cement the UK’s place as a global leader in life sciences.

    Lord Ara Darzi, Paul Hamlyn Chair of Surgery, Imperial College London, Consultant Surgeon, Imperial College Healthcare NHS Trust and the Royal Marsden NHS Foundation Trust and Independent Member of the House of Lords said: 

    This plan is a detailed blueprint for implementation. It marks a profound change not just in how we go about enabling discovery but also in the way we deliver it. It sets the United Kingdom up to lead not just in trialling innovation but in making such innovations have real world impact for the benefit for patients, the National Health Service, and economic growth.

    Dr. Vin Diwakar, Clinical Transformation Director at NHS England, said:

    The Life Sciences Sector Plan is a major step forward, accelerating patient access to the latest health innovations through better industry partnerships, solidifying the NHS’s role in economic growth. Through initiatives like the Health Data Research Service and ‘innovator passports,’ we’re unlocking data’s potential for cures and fast-tracking proven health technologies, ultimately transforming patient care and making the NHS fit for the future.

    Peter Ellingworth, Chief Executive of the Association of British HealthTech Industries (ABHI) said:  

    ABHI welcomes the publication of the Life Sciences Sector Plan. Developed with meaningful engagement from the HealthTech industry, it recognises the critical role that HealthTech will play in driving innovation and supporting the NHS to deliver the reforms needed to ensure its long-term sustainability. We are particularly encouraged by the commitments to regulatory reform, investment in research infrastructure, and measures to accelerate the adoption of innovation. To succeed, this strategy must be delivered in genuine partnership with industry and the NHS, and focused on removing the persistent barriers that prevent patients from benefiting from the best technologies. ABHI and our members are committed to playing an active role in translating these ambitions into tangible improvements for patients, the NHS and the economy.

    Paul Tredwell, Executive Vice President of Accord Healthcare said: 

    It is very encouraging to see a Life Sciences Sector Plan which for the first time recognises the immense contribution of the off-patent industry, a sector which provides around 80% of all the UK’s medicines. As one of the largest manufacturers supplying medicines to the NHS, and a company currently applying to the government’s LSIMF scheme, we welcome this Sector Plan as a positive step and look forward to working with government on policies that will support future growth and investment.

    Nicola Perrin MBE, Chief Executive of the Association of Medical Research Charities (AMRC) said: 

    We’re pleased to see life sciences recognised as a priority sector for the UK. This is a triple win for the economy, for the NHS and for patients. It will benefit people across the country and unlock new ways to prevent, diagnose and treat disease. 

    We welcome the positioning of research at the heart of the Life Sciences Sector Plan, from the earliest stages of discovery science and beyond. We also welcome the focus on ensuring that the NHS embraces new discoveries and innovations – these will only have an impact if they get to patients quickly and effectively.  

    It’s reassuring to see a clear focus on implementation and accountability in the plan. This will help to ensure urgent action and real change. Medical research charities must be key delivery partners – they support R&D that focuses on patients, addresses areas of unmet need and accelerates impact.

    Dr Samantha Walker, Director of Research and Innovation at Asthma + Lung UK, says:    

    We are pleased to see the Life Sciences Sector Plan setting out an array of opportunities for action to accelerate the growth of the UK’s respiratory research and innovation sector.   

    There has been too little scientific progress for people living with lung conditions – the third biggest killer in the UK. This plan for investment, with its focus on innovation and access to health data for research, could help drive desperately needed improvements to the diagnosis and treatment of lung disease, which affects 1 in 5 people in the UK.  

    With effective implementation, this plan could lead to research investment that will save lives and significantly reduce the number of preventable A&E visits due to asthma attacks and COPD exacerbations. Furthermore, it has scope to increase the growth of the life sciences sector and will benefit the UK economy by cutting days lost to sickness.

    Louis Taylor CBE, CEO of the British Business Bank, said:  

    In the UK, we are very good at starting high-potential companies and creating breakthrough innovation, but what’s often lacking is the capital to scale these startups. The British Business Bank has been at the heart of growing the UK innovation economy for the last ten years. Today, the Bank is the largest investor in UK venture and venture growth capital funds and the most active late-stage investor in life sciences and deeptech. We welcome today’s Life Sciences Sector Plan and will continue to support the growth of this critical sector.

    Mike Fairbourn, Vice President & General Manager, UK & Ireland for Becton Dickinson said: 

    Becton Dickinson welcomes the UK government’s publication of the Life Sciences Sector Plan. The plan’s focus on accelerating regulatory approvals, streamlining procurement pathways and investing in innovative manufacturing underscores the crucial role of medical technology in driving better health outcomes and economic growth. We strongly support these commitments and stand ready to work hand-in-hand with government, the NHS and regulators to deliver on these ambitions. Together, we can unlock the full potential of the UK’s medical technology industry to bolster the UK life sciences sector and the wider economy, and to benefit patients across the country.

    Dr Daniel Mahony, Chair of the UK BioIndustry Association said:  

    Making the UK an outstanding place in which to start, grow, scale and invest in life science companies is key to driving UK economic growth.  The life science sector plan is right to focus on getting substantially more public and private investment in early-stage companies, improved access to data, trials and skills to help companies grow, and more streamlined regulation and market access pathways to get innovative medicines to NHS patients. We particularly welcome the focus on unlocking pension funds to increase investment in scaling life science companies. In this parliament, the UK has the opportunity to create a truly-world leading life sciences ecosystem that works for start-ups, scale-ups and established global companies alike.

    Dr Kevin Lee, CEO of Bicycle Therapeutics said:  

    Bicycle Therapeutics welcomes the government’s vision to make the UK a Life Sciences superpower as part of its bold and ambitious Industrial Strategy. We support the strategy’s aspiration to accelerate the growth of UK companies by encouraging investment in the sector, simplifying the regulatory environment, and leveraging the UK’s unique healthcare ecosystem to innovate in clinical trial design. At Bicycle, we view this plan as an opportunity to support the advancement of our work to unlock the potential of our Nobel prize-winning science and create new medicines for a wide variety of diseases, starting with cancer. We are excited by the prospect of working in an ever more innovative and productive sector that will see British scientific breakthroughs transform the lives of patients across the globe.

    Professor Sir Rory Collins, Principal Investigator and Chief Executive of UK Biobank, said: 

    The Life Sciences Sector Plan shows how, with long-term thinking, the UK can build on its many world-leading institutions and facilities to deliver a world-class base for science. UK Biobank is living proof of the value of long-term thinking and the impact it can have on life sciences, with projects like our recent decade-long work scanning 100,000 volunteers that is transforming health research and helping the NHS. 

    The UK government continually supports UK Biobank as shown by its £20 million investment for our project to measure proteins in the blood of our half a million volunteers. This investment is helping generate the world’s most comprehensive health data and, by making it so accessible, we’re effectively able to crowdsource the minds of the planet’s greatest experts. That accessibility is why philanthropists and industry from around the world keep amplifying the government’s investment, leading to more data that drives even more research.

    Professor Ugur Sahin, Managing Director, CEO and Co-Founder of BioNTech said:  

    We believe that innovative treatments reach patients faster when sectors collaborate towards a common goal. The renewed Life Sciences Plan reflects this spirit and has the potential to transform medicine through real progress in cancer care and beyond – both in the UK and globally.

    Helen Dent, CEO of British In Vitro Diagnostic Association (BIVDA) said: 

    This plan reflects the government’s understanding of the challenges facing the life sciences industry and their commitment to driving investment, growth, and innovation across the sector. 

    Pledges which reduce the cost and streamline the adoption of diagnostics, MedTech and genomics are hugely welcome, as are measures to introduce low-friction procurement and contracting mechanisms. 

    Ultimately, success will depend upon continued collaboration between government, industry, and the healthcare system to ensure its ambition is matched by delivery. BIVDA looks forward to supporting this process and bolstering the UK’s position as a world-leader in life sciences.

    Hyoungki Kim, CEO and Vice Chairman of Celltrion, said: 

    As a South-Korea based company with a global outlook, we are committed to adapting to the long-term dynamics of the markets we serve. The UK is a key supply destination for us, and we remain committed to supporting the NHS through the increased availability of biosimilar medicines in the coming years. The UK is an important supply destination for us, and we are planning substantial investments to expand our biosimilar medicine supply in the coming years. We therefore welcome the recognition in the life sciences plan that biosimilars are a critical means of delivering value to the NHS and, importantly, expanding patient access. This acknowledgement reinforces our confidence in prioritising the UK as a central focus of our global efforts.

    Massimiliano Collela, Chief Executive Officer of CMR Surgical, said: 

    We are grateful to the government for their support of leading UK Tech and Life Sciences scale-ups like CMR Surgical through the government’s Industrial Strategy, the 10 Year Health Plan and the Life Sciences Sector Plan.  With the government’s support, the UK innovation sector continues to flourish.

    Lars Petersen, President & Chief Executive Officer of FUJIFILM Biotechnologies, said: 

    FUJIFILM Biotechnologies warmly welcomes the UK government doubling down on its commitment to life sciences with this timely and ambitious new Sector Plan. 

    The UK has long been a global powerhouse in life sciences R&D – but what truly excites me about this plan is its potential to supercharge the life sciences ecosystem. By combining world-class discovery, cutting-edge development, and advanced manufacturing under one cohesive vision, the UK is positioning itself to not just lead in innovation but ensure the entire life sciences value chain flourishes. 

    I’m especially pleased to see the critical role of innovative medicines manufacturers, like FUJIFILM Biotechnologies, recognised as essential to the UK’s future growth. This isn’t just about planning; it’s a clear roadmap to unlocking our potential to fuel economic growth, spark groundbreaking innovation, and improve patient outcomes across the board. 

    The government’s pledge of £520 million in grants to expand the UK’s medicines manufacturing sector can also be a game-changer. Remaining globally competitive requires action, and this is exactly the kind of commitment needed to kickstart a new era for the UK’s life sciences. Combined with ongoing private-sector investment and the support of an empowered Life Sciences Sector Council, we’re looking at the foundation of a win-win scenario for government, business, patients, and innovators alike. 

    As one of the UK’s largest investors in innovative medicines manufacturing, FUJIFILM Biotechnologies stands ready to seize this opportunity. We look forward to helping turn this vision into a reality and build a stronger, more sustainable future for life sciences in the UK.

    Richard Stubbs, Chair of the Health Innovation Network said:  

    The UK is now in a race to the top to become a global powerhouse for the life sciences sector. To achieve this, we will need to go further to find, test and implement health innovations at pace and at scale. It is right that place-based innovation capacity and capabilities have been identified in the Life Science Sector Plan as a key enabler for the sector. 

    The Health Innovation Network is proud of the impact that we deliver with our partners in the NHS, academia and industry – from SMEs to multinationals – to improve patient outcomes, release capacity in the NHS to cut waiting lists and to drive economic growth, all priorities that are rightly recognised in this plan. The contribution the life sciences sector has to improve the health and wealth of the country is more evident now than ever. Through working locally with our vibrant life science sector, our health innovators, and our NHS staff we will deliver real change on the ground that has a national impact, and that supports the bold ambitions set out in the Life Sciences Sector Plan.

    Yamin Mohammed Khan, CEO of hVIVO said: 

    We were pleased to establish a working partnership with the Office for Life Sciences in support of their sector plan. The UK has a remarkable and longstanding legacy in life sciences, something which we at hVIVO are proud to be a part of as the world leading provider of human challenge trials. The UK has a proven track record of innovation that continues to thrive. As a global pillar in health research and life sciences, the UK plays a vital role in shaping the future of healthcare and scientific advancement. We’re excited to see how this 10-year plan unfolds, helping the UK maintain its global reputation and further strengthen its leadership in the life sciences sector.

    Mark Robinson, Vice President and General Manager, UK and Ireland, and North Europe at Illumina, said: 

    Illumina strongly supports the UK government’s ambition, outlined in the Life Sciences Sector Plan, for genomics to contribute to half of all healthcare interventions by 2035. The plan’s focus on integrated health data, streamlined clinical trials, and expanded genomic infrastructure aligns with Illumina’s mission to unlock the power of the genome to improve human health for all. Illumina’s longstanding partnerships in the UK have played a key role in advancing our understanding of the genome, and we look forward to continuing these collaborations to support the UK’s leadership in global genomic research and innovation.

    Dr Stella Peace, Interim Executive Chair of Innovate UK said: 

    The Life Science Sector Plan positions innovation as a critical engine with the potential to power breakthroughs, drive economic growth and transform lives. The plan sets out how we will unlock the full potential of UK life sciences by backing the businesses, researchers and technologies shaping the future of healthcare and delivering real societal impact.  Innovate UK look forward to being part of bringing this plan to life.

    David Marante, Vice President UK and Ireland at Intuitive, said: 

    We know how important equity of access to innovation is to improve patient care in the NHS.  For the last 2 decades we’ve worked together with NHS Trusts in England to implement da Vinci robotic-assisted surgery programmes, harnessing our innovations to help enhance patient and care team experience, and reduce waiting lists through increased productivity to ultimately improve patient outcomes. 

    With health innovation as a key pillar of the government’s vision for the UK’s Life Sciences sector, we’re excited to continue supporting NHS care teams to improve equity of access to minimally invasive care with da Vinci RAS, enabling patients to get back to what matters most.

    Mark Samuels, Chief Executive of Medicines UK, said:   

    Generics and biosimilars account for 4 in every 5 NHS prescriptions, making them a cornerstone of patient care and an essential part of the UK’s life sciences ecosystem. We welcome this plan’s recognition of their vital role.   

    The off-patent sector operates in a highly competitive global environment. To maintain supply and attract sustained investment, the UK must offer a policy and operating landscape that is both supportive and internationally attractive.   

    We are encouraged by the strategy’s ambition and clarity – particularly its objective to make the UK a world leader in the adoption of off-patent medicines, with a strong emphasis on biosimilars.

    A thriving off-patent sector delivers access and value for the NHS and forms the foundation for future pharmaceutical innovation and investment. We look forward to working with Government to deliver on this important agenda.

    Lawrence Tallon, Chief Executive of the Medicines and Healthcare products Regulatory Agency, said:  

    I welcome the publication of the Life Sciences Sector Plan and fully support its ambition to make the UK a global leader in life sciences and a country where innovation delivers for everyone. 

    It’s great to see the MHRA is recognised as a pivotal partner in delivering the plan’s vision – by supporting innovation, protecting public health, and making the UK a global destination for innovators to research, develop and launch cutting-edge medical products. 

    Working with our partners across the sector, we will continue to enable safe and effective innovation that benefits patients, the public, and the economy.

    Kit Erlebach, Chairperson of the UK’s Medicines Manufacturing Industry Partnership (MMIP) and Senior Director, Engineering at FUJIFILM Biotechnologies UK said: 

    The UK government’s new Life Sciences Sector Plan signals a clear and ambitious commitment to the future of life sciences in the UK. This plan provides a unique opportunity to build upon our nation’s strengths in research, development, and manufacturing, creating a fully connected and world-leading life sciences ecosystem, with innovative large and small medicines producers. 

    By articulating a clear vision for medicines manufacturing alongside discovery and development, the UK is laying the foundation for a thriving sector that benefits patients, drives innovation, and delivers economic growth. The focus on medicines manufacturing as a key component of this strategy is vital, providing the necessary support to strengthen the UK’s position on the global stage. 

    The allocation of £520 million in grants for expanding medicines manufacturing capabilities demonstrates the government’s dedication to fostering a competitive and sustainable industry. Combined with continued private-sector investment and collaboration across the sector, this targeted support will create new opportunities for innovation, employment, and improved health outcomes. 

    The Medicines Manufacturing Industry Partnership (MMIP) is proud to have contributed to support the development of this Sector Plan. In a rapidly changing international context, today’s announcement is a key step on the journey to enhance the UK’s international competitiveness. We are committed to working with Government to drive implementation of this plan, and the other necessary steps set out in the MMIP’s 10-year vision to deliver on our shared ambition.

    Darius Hughes, UK General Manager for Moderna, said:   

    Moderna welcomes the UK government’s Life Sciences Sector Plan as a bold and timely commitment to strengthening the UK’s position as a global leader in healthcare innovation and adoption.   

    Through our strategic partnership, we’ve invested in UK-based mRNA R&D and manufacturing, because we believe in the UK’s ability to turn scientific excellence into real-world impact.   

    This Plan gets the fundamentals right — from smarter regulation to investing in talent and unlocking the potential of health data — and we look forward to continuing our work together to deliver meaningful outcomes for patients, the NHS, and the economy.

    Professor Patrick Chinnery, Executive Chair of the Medical Research Council, said: 

    The new Life Sciences Sector Plan sets out a bold vision to transform how one of the UK’s most dynamic and globally competitive sectors delivers for our economy and for people around the world. 

    The Medical Research Council is committed to playing a central role in realising this vision by accelerating the translation of curiosity-driven research into innovations that support disease prevention, earlier diagnosis and better treatments. 

    In partnership with researchers, charities and industry, we will help more people live healthier, more productive lives, and attract further investment to strengthen the UK’s life sciences sector.

    Matthew Taylor CBE, Chief Executive of the NHS Confederation, said: 

    Health leaders will welcome the publication of the life sciences sector plan which will play a crucial role in building an NHS that’s fit for the future. Having a thriving UK life sciences and innovation sector is key to ensuring patients get access to the treatments and innovations they need and at the best value to the health system.  

    For the government’s NHS reforms to succeed a successful life sciences programme is key, and the sector benefits from using the NHS as a testbed and delivery partner for new innovations. We look forward to working with the Office of Life Sciences, the Department of Health and Social Care and NHS England to ensure the views of health system leaders are reflected in the implementation of the plan so that it can deliver for both the health system and life sciences sector.

    Dr Sam Roberts, Chief Executive of the National Institute for Health and Care Excellence (NICE), said: 

    We warmly welcome the publication of the government’s Life Sciences Sector Plan, which sets out how NICE will ensure patients get faster, fairer access to transformative new medicines and life-changing healthtech, while supporting a thriving life sciences industry in the UK.  

    This comprehensive plan establishes a clear vision for how NICE, the NHS, and industry can collaborate to truly transform people’s lives through better, more equitable access to innovation. At NICE, we are committed to playing our part in ensuring that the UK remains at the forefront of life sciences innovation while delivering a sustainable and effective health service for all.

    Ros Deegan, CEO of OMass Therapeutics, said:  

    The new Life Sciences Sector Plan outlines ambitions that fit the UK’s world-leading capabilities and should help small and medium sized Life Sciences businesses scale, grow and keep innovation within the UK. As a growing biotechnology company with products approaching the clinic, we are encouraged to see actions designed to cut clinical trial approval times and improve access to capital – 2 critical factors that will benefit the sector and the wider economy.

    Dr. Lucinda Crabtree, Chief Financial Officer of Oxford Biomedica, said: 

    The UK government’s Life Sciences Sector Plan sets out a clear commitment to making the UK a global hub for health innovation. At OXB, we have experienced first-hand how targeted government support — including funding from Innovate UK — can help unlock growth and build globally competitive capabilities. The plan’s focus on accelerating clinical trial processes, streamlining regulatory pathways, and investing in manufacturing, genomics, and health data infrastructure will support innovation and improve access to breakthrough treatments. These initiatives are vital to establishing the UK as a key market to scale life sciences businesses, attract investment and world-class talent, and drive long term economic growth.

    Gordon Sanghera CBE, CEO and Co-founder of Oxford Nanopore Technologies, said: 

    The UK’s ambition to further expand the integration of genomic and molecular data into health systems and the economy – at scale – is exactly the kind of bold infrastructure investment that can improve lives and drive economic growth. In that system, being able to move quickly from innovation to implementation is essential to translating UK science into global health and economic impact.

    Roland Sinker CBE, Chief Executive of Cambridge University Hospitals NHS Foundation Trust, said:  

    As I outlined in the Innovation Ecosystem Programme report, there is a significant opportunity to deliver meaningful benefits to the NHS and patients through innovations developed by UK life sciences companies. I fully support the Life Sciences Sector Plan and its clear commitments to advancing research, enabling UK life sciences to thrive, and accelerating health innovation. These actions are essential to ensuring that NHS staff and patients are among the first to benefit from the latest breakthroughs.

    Richard Saynor, CEO of Sandoz said:  

    We welcome the government’s commitment to becoming a world leader in the uptake of off-patent medicines. The target of £1 billion of savings from biosimilars is both realistic and achievable. Increasing their use will unlock greater worker productivity and increase the health of the UK population – a major contribution to the government’s growth imperative. As a committed partner to the NHS and government, Sandoz will dedicate resources and expertise to realise the goals for the off-patent sector within the Life Sciences Strategy.

    Neil Daly, CEO and Founder of Skin Analytics, said: 

    We welcome the clear action plan in the Life Sciences Sector Plan for streamlining and speeding up the adoption of proven healthcare technologies and feel the plan will make a meaningful difference to UK health innovators. In skin cancer, this means that the NHS can move much more swiftly to establish appropriately regulated autonomous AI triage as standard practice for all patients. This will find more cancers, free up clinician time and save taxpayers’ money.

    Dr Michael Spence, University College London President and Provost said: 

    Universities will be at the heart of making the UK the leading life sciences economy in Europe. With its backing for world-class research and clinical trials, the Life Sciences Sector Plan will help us achieve even more. 

    London is a global centre for innovation, with Euston already a leading area for life sciences where world-class universities, healthcare, and life science companies come together. With new investments in Oriel at St Pancras Way with Moorfields Eye Hospital, and a state-of-the art neuroscience facility at Grays Inn Road, UCL is at the heart of making the area a global leader. The new Life Science Hub at Euston station is a step towards realising the huge potential in this area and achieving the government’s ambitions 

    John-Arne Røttingen, CEO of Wellcome, said: 

    The ambition set out in the Life Sciences Sector Plan is hugely welcome. Life sciences are a historic strength of the UK, and this strategic vision is important to cement the country’s advantage in the future. The plan’s emphasis on the importance of early-stage research is particularly shrewd. Basic discovery science underpins later health breakthroughs and clinical trials, making it the essential bedrock for a thriving research economy.  

    The focus on speeding up trials and on data infrastructure for research will not only lead to real impact for patients but also strengthen the UK’s attractiveness to innovative researchers and businesses.  

    If the level of ambition in the plan is matched by meaningful action and investment, the UK will be well on its way to securing its place as a global life sciences leader.

    Notes to editors

    The full collection of Industrial Strategy sector plans can be found here.

    DSIT media enquiries

    Email press@dsit.gov.uk

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    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Australia: Doorstop – UTAS, Sydney campus

    Source: Murray Darling Basin Authority

    JASON CLARE, MINISTER FOR EDUCATION: Thanks very much for coming along this morning. 

    I’m here at the University of Tasmania’s campus right here in the heart of Sydney training the next generation of nurses and paramedics. And a couple of weeks ago we kicked off for the first time paid prac. That’s financial support. 

    Paid prac is financial support for teaching students, for nursing students, for midwifery students and for social work students to provide them with a little bit of financial help while they do the practical part of their training, with the practical part of their university degree. 

    Placement poverty is a real thing. As we developed the Universities Accord, one of the things that leapt out time after time talking to students was the financial challenges that come with doing the practical part of your university degree. And students over there in the background mentioned it to me just a minute ago. One student told me that she had to delay or extend her degree for a year just because of the financial challenges of doing your prac and having enough money to put food on the table, to pay your bills. This is one of a whole suite of recommendations in the Universities Accord that we’re implementing. 

    Another thing that came out of the Universities Accord was the reform that is needed to our HECS system, or what we used to call HECS – what we now call HELP – to student debt. Next week I’ll introduce two pieces of legislation into the Federal Parliament. The first cuts students debt by 20 per cent and the second one will cut funding to child care centres that aren’t up to scratch. 

    On the first bill, this is something that we promised the Australian people during the election campaign – that we would cut the student debt of 3 million Australians by 20 per cent. It’s worth something in the order of $16 billion dollars. And for the average Australian with a student debt it will cut their debt by more than $5,500. It will take a lot of weight off the shoulders of a lot of young Australians who are just out of uni, just getting started, just getting on their feet looking to move out of home or save up to get a mortgage. That money taken off their HECS bill will make a world of difference. 

    And the other bill that we’ll introduce next week, as I said, will cut funding from child care centres that aren’t up to scratch. This is something that we promised in the last week of Parliament before the election was called. We did that in response to the revelations that came out of the Four Corners exposé earlier this year about abuse and neglect in child care centres. 

    The truth is that if we want real reform in early education and care, if we want every child care centre to pay attention to safety, to give it the priority that it needs and deserves, then the most powerful weapon the Federal Government has to wield here is money. Child care centres don’t work, don’t operate without the child care subsidy. It represents about 70 per cent of the funding that runs a child care centre. 

    The purpose of this legislation isn’t to shut child care centres down, it’s to raise standards up. What it will do is set conditions on centres that if they don’t meet the sort of standards that parents expect and that our kids deserve, then funding will be suspended or removed entirely. And, as I said, the purpose of this is not to shut centres down but to lift standards up. It’s just one of the things that we need to do to improve the safety of children in our child care centres. 

    Today I’m also releasing this document, which is a roadmap of some of the key reforms that we will roll out in education over the next 12 months. It doesn’t set out everything, but it sets out some of the key reforms, including this legislation to cut student debt by 20 per cent, including this legislation to cut funding to child care centres that aren’t up to scratch. But this year we will also introduce legislation to improve the integrity of the international education system and legislation to permanently establish an Australian Tertiary Education Commission. That and much more that’s needed to make our education system better and fairer and safer. 

    Happy to take some questions. 

    JOURNALIST: Minister, on child care, when can we expect to see a national child care worker register up and running, and what’s the process from here to establish that? 

    CLARE: It’s a good question. I was asked this question this morning. Work is already underway on that. States and territories have agreed that we need one and we need to accelerate the work to stand that up. 

    The first steps are what the states are taking now – Victoria has already said that it will augment its existing teacher register to include the educators that work in their centres. They think that they can do that over the course of the next few months. What we want to do is see all states build that up and then join it up. So that work is underway with states at the moment as well as the federal authority that’s responsible in this area, called ACECQA. 

    JOURNALIST: You have acknowledged that the government has been too slow on child care reform. Who’s the minister responsible for that, and who do you hold responsible for the fact that it has been slow? 

    CLARE: I’ve been pretty blunt. I’ve said that, yes, action has been taken but more action is needed and it needs to happen quicker. I don’t think Australian parents are interested in excuses here. They want action. And action requires all levels of government to work together and the industry to join in as well. 

    Have a look at the revelations today that another 800 children have to get tested, blood tests and urine tests. Think about the anxiety that mums and dads are going through today, think about the trauma that kids are going to have to go through with all of that testing. 

    Now, the company that runs those centres should have known where this bloke was and when he was working there. The Victorian Government is working as quickly as they can to track all of this down. But it highlights to me the importance of having a national database or a national register like the one you just asked in the previous question so you can track people down when they cross borders, when they move centres. 

    JOURNALIST: And what point do you think it would become – you know, that particular case, that person moved around a lot. At what point do you think it would become suspicious if someone within the system was moving around a lot? 

    CLARE: So conscious this is a live investigation, so let’s pose this question in general terms. 

    JOURNALIST: Yeah. 

    CLARE: If we build this register the right way it helps us to identify or prompt red flags when somebody is moving for the wrong reasons. There’ll be some times people who will move between centre and centre because they’re labour hire, but there may be instances where people are moving from centre to centre because they’re quietly being moved on. 

    If the system works the way it needs to work, when something is not right, the police are called and the regulator comes in. And, if necessary, the centre is shut down. 

    JOURNALIST: We’re hearing some parents demand that centres only have female staff. What do you think of that? 

    CLARE: I think you might have asked me this question, Fiona, last week, there’s a bit of media about this. Have a look at the Four Corners evidence that shows that this is not just a problem with blokes. It’s a problem with women as well. We’ve had royal commissions. We’ve had the child safety review that I commissioned after that serial paedophile was arrested and convicted in Queensland. We know what we need to do here. In none of those reports did they recommend this. What they’re recommending is that register, they’re recommending national mandatory safety training so that the 99.9 per cent of people who work in our centres who are good, honest, hard-working people who love our kids and care for them and educate our kids have the skills they need to identify the person that’s up to no good, and things like CCTV so that we can deter bad people from doing bad things and help police when bad things happen. There’ll be individual centres that will talk to mums and dads about the way in which they operate in the system. But just cutting blokes out of it all together is not going to be the solution. 

    JOURNALIST: Is it discrimination, Minister? 

    CLARE: I don’t think there’s any example of any other profession in the country where it’s gender specific. The more important point I want to stress here is if we’re serious here about making sure that our kids are looked after and they’re safe, just identifying one gender is not the way to do it. 

    JOURNALIST: And also just on a follow-up on this matter, parents have naturally lost confidence in the system because of what’s happened. Some parents are now opting for in-home care where grandparents or relatives look after kids. Would you ever envisage a situation where the government might subsidise something like that, where parents or grandparents got paid to look after their grandchildren or – 

    CLARE: That’s not something the government is considering. 

    What we want to make sure of is that the system is as safe as it needs to be. We want it to be affordable, we want it to be accessible, but most important of all we want our kids to be as safe as they possibly can be. 

    Now, this is an essential service for mums and dads. There’s more than a million mums and dads out there today who are watching this, it might be in their own workplace. They might be working from home, but they know how important this is. They can’t live the lives that they’re living without this. But it’s also important for their kids, too. It’s providing them with the building blocks for the education they’re yet to have. 

    If you ask principals and teachers at schools, they’ll tell you that they can identify the kids when they first arrive at primary school that have been in early education and care, whether it’s sitting up straight, whether it’s listening or whether it’s having those literacy and numeracy fundamentals. All of those things make them ready to learn. 

    Now, at the moment there’s lots of kids in early education and care, but there’s some that are still missing out because they’re from really poor and disadvantaged backgrounds. And they start school already behind. So, we’ve got to make the system better. We’ve got to make the system fairer. But, most importantly, we need to make the system safer. 

    JOURNALIST: Do you support Jillian Segal’s policies to withhold funding from universities if they fail to stop or address antisemitism? 

    CLARE: So, we’re considering Jillian Segal’s report, the Special Envoy on antisemitism. I won’t respond today to those recommendations. But there are things that we are already doing in this space. I need to underline the point that there is no place for the poison of antisemitism in our universities. 

    JOURNALIST: So, you won’t say whether you support – 

    CLARE: Hang on. 

    JOURNALIST: Sorry. 

    CLARE: There’s no place for the poison of racism in all of its ugly and obnoxious forms in our universities or anywhere else. I’m not going to say today what our response to that recommendation will be. What I will say is we’ve taken a number of steps already. We’ve established a National Student Ombudsman for the first time so students that make complaints to their universities that are unheard have an independent person to complain to. And that ombudsman is up and running right now. 

    Second is TEQSA, who is the higher education regulator, already has powers in this area, whether it’s to put conditions on universities or to apply to a court to impose fines on universities. There’s an open question about the powers that TEQSA has today and whether they should be changed. That’s something that is being considered right now as part of a broader review of university governance. 

    The other thing I would say is that I don’t intend to look at this report in isolation. But next month the Government will receive a report from the Special Envoy in Combating Islamophobia, and so we wait to see what his recommendations will be. And broader than that, I’ve asked the Race Discrimination Commissioner to conduct a review of racism in our universities. The fact is it exists in our universities in all its ugly forms – ask Indigenous students, ask Islamic students, ask Asian students, ask international students, ask the people who work in our universities of different backgrounds, and they’ll tell you that it is real and that action is needed. 

    Before we consider those recommendations to their final conclusion, I want to look at the recommendations of the Special Envoy on Islamophobia, and I also want to see the work of the Race Discrimination Commissioner. 

    JOURNALIST: Just on that same topic, does that mean you probably won’t expect the Government’s response to those recommendations, including funding, until after those reports come down? And there were also some specific mentions of social media and growing antisemitism amongst young people because of social media. Would you back an awareness campaign or the report’s recommendation of a project to support trusted voices to publicly refute antisemitic views? 

    CLARE: That’s a little outside my portfolio. I’d make the general point that social media plays a role here. It’s not the only reason, but one of the benefits of removing access to social media for young people under the age of 16 might be that less of this poison enters the ears and eyeballs of our young Australians. 

    On your first question, we expect to see that report from the Special Envoy on Islamophobia next month. We’ll get the report from the Race Discrimination Commissioner later this year. But I do think I need to look at all of those reports that might make different recommendations here. I want to tackle racism in whatever form it comes. 

    JOURNALIST: So, it would be a holistic response, not just addressing antisemitism? 

    CLARE: There are recommendations in that report that apply to education. There’s recommendations that apply to other parts of government as well. 

    JOURNALIST: So, it won’t be accepted in full, the recommendations? 

    CLARE: I didn’t say that. Don’t put words in my mouth. 

    JOURNALIST: At the same time, then? 

    CLARE: I’m saying that we’re considering it carefully. We’ve got to consult as part of that. I want to see what the Special Envoy on Islamophobia has to say as well. I think that’s fair. I think that’s the right thing to do. But it’s not just antisemitism and it’s not just Islamophobia – ask Indigenous kids at university today and they’ll say, “well, don’t forget me.” 

    JOURNALIST: So next month we’ll expect – 

    CLARE: Next month, we’ll receive the report from the Special Envoy on Islamophobia. 

    JOURNALIST: And then you’ll hand down – or you’ll say whether you adopt the recommendations? 

    CLARE: Next month we’ll receive the report from the Special Envoy on Islamophobia. Later this year, we’ll get the report from the Race Discrimination Commissioner, which will look at this across the board. 

    JOURNALIST: And I do have just one more on funding and then we can go back to child care. But there have been some comparisons of this funding issue to the Trump administration, what we’ve seen with Harvard and Columbia University. Is that really something that a Labor Government would consider doing – removing funding from a public institution? So, isn’t that kind of a gross overreach, as some people have said? 

    CLARE: I’ll make no comment on that. Have a look at my previous answer. I made the point that TEQSA, the regulator, has powers here already. They’re different in kind to what’s being recommended in this report. But they enable TEQSA to go in and either put conditions on a university or to penalise them, to apply to a court to issue fines. There’s an open question about the role that TEQSA plays here. They’re already playing an important role in helping universities to lift their standards. I mentioned a couple of pieces of work that are ongoing in Government at the moment. There’s a separate piece of work on improving the governance of our universities generally. You would have seen reports today from chancellors, which I welcome, about how do we improve the way in which decisions are made about the remuneration of vice chancellors. That makes sense on its face to me, but that body that’s doing that work about the governance of our universities will present its recommendations to Government in October of this year. 

    JOURNALIST: On that, can I just ask you – this is a bit outlandish – but do you think VCs are overpaid? 

    CLARE: Well –

    JOURNALIST: Given that 

    CLARE: My answer to that is that I think it makes sense – I think it makes a lot of sense, the decisions around the pay of vice-chancellors to be considered by the Remuneration Tribunal. That’s what chancellors have suggested today. When you think about it, public universities are largely funded by public funds. Politicians’ salaries are set by the Remuneration Tribunal. So are the salaries of judges and public servants. But I will wait to see that report, which we’ll get in a couple of months, about reforms to the governance of universities, not just salaries of vice‑chancellors but also what more we need to do in areas of wage theft and making sure that everybody who works in universities are properly paid. And then broader reforms that they’re considering about the councils, the senates, the boards of universities, how they operate, who are represented on them, to make sure that our universities are fit for the future.

    Our universities are incredibly important and they’re going to be more important tomorrow than they are today, just like TAFEs. When I was a kid less than 10 per cent of people had a university degree. Now it’s almost 50 per cent. We know that by the middle of this decade even more kids will go on to uni and more will go on to TAFE, and we’ve got to make sure that our whole tertiary education system is set up for them. And this is part of it. 

    JOURNALIST: Oh, hi Minister Clare, just back to child care, we learned yesterday that accused paedophile Joshua Brown worked at an additional four daycare centres, bringing the total now to 23. My question is: does the casualised nature of the workforce pose risks to children? And how will a centralised system for monitoring workers that you have planned actually work? 

    CLARE: This question gives me an opportunity to talk about the pay rise that’s rolling out for child care workers now. My older cousin has worked in the sector for 30 years. I remember when my eldest was first in child care I said, “how do I pick a good centre?” And she said, “find a place where the team has been there forever. Where they’re permanent and where they love working there and they all know each other, and they all know the kids.” Right. One of the benefits of paying people more is more people want to do the job. And we’ve seen already with the start of the rollout of the 15 per cent pay rise, more people applying to work in the sector and drop in vacancies. That’s going to help with that balance about permanency as well as casual workers. 

    I really do worry that with all of the horror that mums and dads are experiencing that people who work in this sector are just as angry and just as horrified with what they’re seeing and that a lot of people are feeling like there’s a target on their back and that they might not want to work here. We need good people in this sector more than ever, and this pay rise is one part of that. 

    In terms of how the register will work, that’s something that my Department is working with state and territory departments on right now. We’ve agreed that we need to do it. We’re working on the system and how it should work. I talked about setting it up and joining it up. And this will be one of the things that’s considered when education ministers meet for a standalone meeting on child safety next month. 

    JOURNALIST: Can I ask one more question about the Segal recommendations? 

    CLARE: Sure. 

    JOURNALIST: Former Labor Minister Ed Husic today came out and sort of told the Government not to be too heavy-handed, is how he put it, in responding to the antisemitism crisis. Do you have any thoughts on that? And do you think the report enacted in full would be too heavy-handed? 

    CLARE: It may be an opportunity to say that Ed’s a great bloke and he’s one of my best mates, and I take his counsel and advice all the time. And I think you can see from my answer today that this is something that we’re going to give careful consideration to, having a look at it not in isolation but having a look at racism in all its ugly forms across our universities and across our community.

    JOURNALIST: Is this something that you think that federal resources should be used to police, when it comes to universities and how they deal with these things? 

    CLARE: Sorry, Fi, just explain a little. 

    JOURNALIST: Is it – so when we’re talking about universities dealing with antisemitism and other related issues, should federal resources be used to monitor how they’re going with that? 

    CLARE: They already are. They already are. When you think about the decision that I made and that I got states to agree to set up the student ombudsman, it was very much about that. It wasn’t just about that. All of the horrific evidence that came to me when I first got this position about the sexual assault and harassment of particularly female students in our universities, in particular, in student accommodation, made me believe that action was required, and action was taken. And that’s why that ombudsman was set up. 

    That involves, I think more than $50 million dollars of taxpayer money, Commonwealth money, to set that agency up, to set that ombudsman up. And we’ve given that ombudsman real teeth so that when she makes a recommendation universities have to implement it. There’ll be legislation I’ll re-introduce into the parliament around that as well when parliament returns. 

    The investment that we’ve made to ask the Race Discrimination Commissioner to conduct a review into respect at unis, into racism in our universities, I think is evidence that I do believe the Commonwealth has a role here to make sure that our universities are safe places too, that many don’t feel afraid to go to uni. We want more people to want to study at uni. These are places where people study, work and live. They’ve got to be as safe as they possibly can be. There is no place for any type of racism in our country, whether it’s in our unis or anywhere else. 

    JOURNALIST: Dom, anything from you? 

    JOURNALIST: Yes, thank you. Just want to go back to the HECS stuff. 

    CLARE: Sure, mate. 

    JOURNALIST: And ask: with the introduction of the legislation next week, after that, when can we expect the next tranche of university reforms from the Accord? Do you have – is HECS still the focus of that tranche in terms of, you know, how it’s indexed, some other tweaks that can be made, will that be looked at soon? 

    CLARE: Thanks for the question. It’s an opportunity for me to explain in a little bit more detail the bill that will go in next week. 

    Number one, it will cut student debt by 20 per cent, but it will also make structural changes to the way HECS, or student debt operates. It will increase the amount of money you have to earn before you start paying off HECS from 54,000 to I think it’s about $67,000. 

    So, in other words, you don’t start paying off your university degree until your degree starts to pay off for you. And it makes an even more important structural change to the way in which you pay off the debt. It will effectively reduce the amount that you have to pay off each and every year when you’re on a low income. 

    So, the best way to explain that is if you’re on an income of $70,000 today, when this legislation passes it will reduce the minimum amount you have to repay every year by about $1,300. So that’s a real cost of living benefit for a lot of people that are on very modest incomes. 

    JOURNALIST: Just a two-parter then, still on HECS: in terms of has any modelling been done that by raising that people are worse off in the long term? For example, less payments equals more money that then gets indexed each year, so if you don’t reach that threshold, you know, for three more years, you’ve got a higher HECS debt that gets indexed and it kind of compounds? 

    CLARE: Okay, that’s an important opportunity to make the point that this is a minimum repayment. There is nothing that stops or will stop people from making additional repayments if they choose to do so.

    JOURNALIST: And then the indexation – sorry, just to clarify – the indexation I was referring to was how HECS, the money gets taken out every month, but then it gets only subtracted, I think, from the debt at the end of each year, or in June or something like that. So, indexation is applied. 

    CLARE: Okay. 

    JOURNALIST: Is that what you’re looking at as well? Is that part of the next tranche? 

    CLARE: So, in last year’s budget we announced part 1 of our response to the Universities Accord. This is a blueprint for the next decade. It’s a big report with a lot of recommendations. We have implemented now in part or in full about 31 of those recommendations. But over the – in part with the support of the Tertiary Education Commission, which has now been established in an interim reform a week or so ago, we will now look at other recommendations in that report and what the next steps need to be in reforming our higher education system, in making it better and fairer. And in the report, I released today, it touches on some of those things. 

    One of them, which is not the sexiest thing – it won’t make the front page of the paper – but it’s a structural change which is going to be very important is changing the way we fund our universities. That will start from January of next year. And the introduction for the first time ever of real needs-based funding for our universities. 

    Last year I struck agreements with every state and territory to fix the funding of our public schools on a needs-basis, like David Gonski said we should all those years ago. Now we want to apply the same sort of model to our universities, so funding follows the students and more students from disadvantaged backgrounds, from the outer suburbs of our cities, from our regions who need more support to not just start a degree but finish a degree get it. 

    JOURNALIST: And that includes the Jobs Ready Graduate Scheme? 

    CLARE: That’s something we’re asking ATEC to have a look at. All right. Thank you.

    ENDS

    MIL OSI News –

  • MIL-OSI Africa: Qatar’s Minister Of Labor Pays Courtesy Visit To Sierra Leone’s President Julius Maada Bio, Reaffirms Bilateral Cooperation

    Source: APO – Report:

    .

    The Minister of Labor of the State of Qatar, Dr. Ali Bin Sammikh Marri, paid a courtesy call on His Excellency President Dr. Julius Maada Bio at State House in Freetown, reaffirming his country’s commitment to deepening bilateral cooperation with Sierra Leone, particularly in the areas of labor and employment.

    Introducing the visiting delegation, Sierra Leone’s Minister of Labor and Employment, Mr. Mohamed Rahman Swaray, informed the President that the Qatari Minister was on an official visit to explore ways to expand collaboration between the two nations’ labor sectors.

    “Your Excellency, I am pleased to introduce my counterpart, the Minister of Labor from Qatar, who is here to engage with us on strategic collaboration and deepen the ties between our two ministries,” Minister Swaray stated.

    In his remarks, Dr. Ali Bin Sammikh Marri thanked President Bio for the warm welcome and hospitality extended to him and his delegation. He recounted his early academic exposure to Sierra Leone more than 30 years ago, noting with delight that he had finally visited the country he once studied.

    “It is a pleasure to be in Sierra Leone,” he said. “Over 30 years ago, as a student, I was asked to write about Sierra Leone. Today, I am here in person, as Qatar’s Minister of Labor, to explore collaboration, especially in labor market policies. With Your Excellency now serving as Chairman of ECOWAS, we see an opportunity to align with your leadership in regional labor development and cooperation.”

    Minister Marri also conveyed a message of congratulations on behalf of the Emir of Qatar, His Highness Sheikh Tamim bin Hamad Al Thani, to President Bio on his recent election as Chairman of the ECOWAS Authority of Heads of State and Government.

    “I bring you fraternal greetings and congratulations from your brother, the Emir of Qatar, on your recent appointment. We appreciate your hospitality and look forward to strengthening our bilateral ties,” he concluded.

    In his response, President Bio warmly welcomed the Qatari Labor Minister and expressed appreciation for the visit and message from the Emir of Qatar. He noted that it was particularly meaningful that Dr. Marri, after writing about Sierra Leone three decades ago, was now visiting the country as a high-level representative of Qatar.

    “Thank you very much for visiting. On behalf of the Government and people of Sierra Leone, we welcome you,” President Bio said. “We have had a growing relationship with Qatar and look forward to expanding cooperation, especially in agriculture, education, and the digital economy, areas where we are investing heavily and seeing meaningful progress.”

    President Bio also welcomed the opportunity to explore broader labor collaboration across the ECOWAS region during his tenure as Chairman and emphasized the importance of leveraging international partnerships to advance a common African interest.

    “It is an exciting moment to lead ECOWAS, and I see it as an opportunity to further engage the international community on shared priorities for West Africa,” he concluded.

    – on behalf of State House Sierra Leone.

    MIL OSI Africa –

  • MIL-OSI: Virtune launches Virtune Coinbase 50 Index ETP on Nasdaq Stockholm

    Source: GlobeNewswire (MIL-OSI)

    Stockholm, July 16, 2025 – Virtune, the Swedish regulated crypto asset manager, announces the listing of its latest exchange-traded product, the Virtune Coinbase 50 Index ETP, on Nasdaq Stockholm traded in SEK. This listing marks a major milestone for Virtune’s continued growth in its home market and reinforces its position as a leading issuer of regulated, physically backed crypto ETPs in the Nordics.

    The product is now available to Swedish and Nordic investors via brokers and banks such as Avanza, Nordnet, SAVR and Montrose and is traded in SEK.

    Virtune has worked closely with Coinbase since its inception, collaborating across all key areas – staking, trading, and custody. The launch of the Virtune Coinbase 50 Index ETP marks the next step in strengthening this partnership. It is the world’s first exchange-traded product to track the Coinbase 50 Europe Index – a broadly diversified benchmark of up to 50 leading crypto assets. The index is developed by Coinbase and administered by MarketVector Indexes™. The ETP currently holds 21 crypto assets, with the target to expand to all 50 assets pending regulatory and exchange approvals.

    The Coinbase 50 Europe Index aims to provide investors with representative exposure to the most significant and relevant digital assets in the market. The product is tailored for both institutional and retail investors seeking regulated, transparent, and professional exposure to the crypto market.

    Allocation as of 15th of July 2025:

    https://www.virtune.com/product/vcoin50

    Christopher Kock, CEO of Virtune:

    “Listing our Coinbase 50 Index ETP on Nasdaq Stockholm marks a significant milestone in our mission to provide secure and regulated access to digital assets investments in Sweden and the Nordics. We are thrilled to bring this flagship product to our home market, allowing investors to trade it in SEK on Nasdaq Stockholm.”

    The Virtune Coinbase 50 Index ETP is 100% physically backed by the underlying crypto assets, securely stored in cold-storage with Coinbase, and carries a competitive annual management fee of 0.95%.

    Learn more about the product here: www.virtune.com/product/vcoin50

    About Coinbase: 

    Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.

    Brett Tejpaul, Head of Coinbase Institutional: 

    “With the launch of the Virtune Coinbase 50 Index ETP in Nordics, we’re making one of the most comprehensive benchmarks for the crypto market directly accessible to investors across the Nordics. This marks a major step forward in our mission to expand global access to digital assets and provide institutional-grade tools for navigating this evolving asset class. The introduction of this ETP reinforces our commitment to bridging traditional financial infrastructure with the growing demand for regulated, secure exposure to the digital economy.”

    About MarketVector:

    MarketVector Indexes™ (“MarketVector”) is a regulated Benchmark Administrator in Europe, incorporated in Germany and registered with the Federal Financial Supervisory Authority (BaFin). MarketVector maintains indexes under the MarketVector™, MVIS®, and BlueStar® names. With a mission to accelerate index innovation globally, MarketVector is best known for its broad suite of Thematic indexes, a long-running expertise in Hard Asset-linked Equity indexes, and its pioneering Digital Asset index family. MarketVector is proud to be in partnership with more than 25 Exchange-Traded Product (ETP) issuers and index fund managers in markets throughout the world, with more than USD 57 billion in assets under management.

    Martin Leinweber, Director, Digital Asset Research and Strategy, MarketVector: 

    “The Virtune Coinbase 50 Index ETP marks a significant step forward for crypto investment in Europe, offering broad, institutional-grade exposure to digital assets through a single, efficient product. This milestone combines MarketVector’s index expertise, Coinbase’s market infrastructure, and Virtune’s transparent, regulated approach. We’re proud to deepen our partnership with Virtune by becoming the index provider for their entire range of crypto ETPs across Europe. Together, we’re delivering the tools institutional and retail investors need to navigate the digital asset landscape with greater confidence and clarity.”

    Key Information about the Product:

    • Exposure: Up to 50 leading crypto assets in a single product
    • Underlying assets: 100% physically backed by the underlying crypto assets
    • Custody: Institutional-grade custody by Coinbase
    • Management fee: 0.95% per annum
    • Trading currency: SEK
    • First day of trading on Nasdaq Stockholm: Monday, July 14, 2025
    • Bloomberg Ticker: VCOIN50
    • ISIN: SE0024738389
    • WKN: A4A5D4
    • Exchange ticker: VCOIN50
    • Exchanges: Nasdaq Stockholm, Nasdaq Helsinki, Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris

    For inquiries, please contact:

    Christopher Kock, CEO & Member of the Board of Directors
    +46 70 073 45 64
     christopher@virtune.com

    About Virtune AB (Publ):

    Virtune, headquartered in Stockholm, is a regulated Swedish digital asset manager and issuer of crypto exchange-traded products on regulated European exchanges. Through regulatory compliance, strategic partnerships, and a highly experienced team, Virtune empowers global investors to access innovative and professional investment products aligned with the evolving global crypto market.

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.. The Coinbase 50 Europe Index (“Index”) is the exclusive property of MarketVector Indexes GmbH (“MarketVector”) and its Licensors and has been licensed for use by Virtune AB (Publ) (“Licensee”). MarketVector has contracted with CC Data Limited to maintain and calculate the Index. CC Data Limited uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MarketVector, CC Data Limited has no obligation to point out errors in the Index to third parties. In particular, MarketVector is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on the Virtune Coinbase 50 Europe ETP (“Product”) or not, are not sponsored, endorsed, sold, or promoted by MarketVector and any of its affiliates, and MarketVector and any of its affiliates make no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MARKETVECTOR AND ANY OF ITS AFFILIATES AND ANY OF ITS LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO LICENSEE.

    The MIL Network –

  • MIL-OSI United Kingdom: Huge majority deliver ‘leave Portsmouth alone’ message

    Source: City of Portsmouth

    The people of Portsmouth have delivered a clear directive to Government to leave Portsmouth alone.

    In a recent survey, 82% said they’re against Portsmouth being forced into Local Government Reorganisation (LGR) and having to merge with other councils.

    Just under 4,000 Portsmouth residents responded to the council-run survey, with over four-fifths voicing their objection. The short survey ran for ten days to capture local opinion ahead of a region-wide LGR survey across Hampshire and the Isle of Wight.

    “The result speaks for itself and it’s one of the most decisive answers we’ve ever had to a survey, and by far the biggest response in such a short time,” said Portsmouth City Council Leader Cllr Steve Pitt.

    “It was vital that we gave Portsmouth residents a say and the message to Government is clear, we don’t need council reorganisation here, leave Portsmouth alone.

    “Portsmouth already has one council that’s financially stable and delivers all of the council services to residents. There’s no evidence that a bigger new council will bring any benefits, but what we know is, the cost of reorganisation will be on tax-paying residents.”

    Under its national LGR plans, the Government wants to replace two-tier council areas with single, larger councils that deliver all council services. Portsmouth already has a single council, but because the Government wants new councils to deliver to an average of around 500,000 people, bigger than Portsmouth’s population, it has been told it must take part.

    The Government may not listen to Portsmouth residents and could force the city to be part of LGR. Considering this, the survey asked if Portsmouth has to merge, who it should be with. Of those who expressed a preference, 61% agree that, if forced, Portsmouth should merge with Fareham, Gosport and Havant councils.

    All other options to merge with other councils received under 10% of support.

    Individual councils must submit a final, preferred LGR option for the region to Government by September.

    So, Portsmouth City Council is working as part of a group of 12 councils across Hampshire and the Isle of Wight on options that would create four new, larger single councils to cover the mainland, with the Isle of Wight remaining separate. All options propose Portsmouth joins with Fareham, Gosport and Havant.

    A region-wide survey on these options is live and closes on Sunday 27 July. Take the survey here: https://ourplaceourfuture.commonplace.is/

    Read the full Portsmouth LGR survey results.

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: CS visits Heilongjiang Province (with photos/video)

    Source: Hong Kong Government special administrative region

        The Chief Secretary for Administration, Mr Chan Kwok-ki, arrived in Harbin, Heilongjiang Province yesterday afternoon (July 15), to continue his visit.

        Mr Chan met with the Secretary of the CPC Heilongjiang Provincial Committee, Mr Xu Qin, to exchange views on deepening co-operation between Hong Kong and Heilongjiang Province. Mr Chan said that over the past year, Hong Kong and Heilongjiang have had mutual engagements, close exchanges and co-operation efforts that have reached an unprecedented level. At the Heilongjiang-Hong Kong Investment Cooperation Conference held in Hong Kong in March this year, the two places signed Memoranda of Understanding for strengthening co-operation on education, economics and trade, culture and tourism, sports and youth, and other fields, breaking new ground and laying a solid foundation for future co-operation. He said that Hong Kong possesses the unique advantages under the “one country, two systems” principle and a business environment that is highly market-oriented and internationalised, underpinned by the rule of law and an array of global professional talent and services. Mr Chan said he eagerly looks forward to deepening co-operation in all aspects between Hong Kong and Heilongjiang, complementing each other’s strengths,and achieving mutual benefits to make greater contributions to building a great country and realising the rejuvenation of the Chinese nation.

        Afterwards, Mr Chan attended the launch ceremony of the Hong Kong Patriotic Education Heilongjiang Study Tour under the Strive and Rise Programme. On behalf of the Hong Kong Special Administrative Region (HKSAR) Government, he expressed gratitude to the Heilongjiang Provincial Government for its strong organisational support work for the study tour, which travelled to and from Harbin by chartered flights arranged by Greater Bay Airlines. With over 130 participants, this study tour is the largest tour in scale since the launch of the Strive and Rise Programme. Mr Chan said at the event that given the rapid advancements in the country’s science and technology sectors, Heilongjiang Province has also developed various high-tech industries. He encouraged the participants to engage in different activities on the study tour to deepen the understanding of the country’s history, culture and economic development, and experience fascinating technological innovations. These will help the participants set goals for their future and strive for upward mobility.

        This morning (July 16), Mr Chan and members of the study tour visited the Exhibition Hall of Evidences of Crime Committed by Unit 731 of the Japanese Imperial Army, which is one of the first batch of 100 demonstration bases for patriotic education in the country. The visit allowed the participants to gain a deeper understanding of the crimes of Unit 731 through the displayed objects, pictures, archives, multimedia materials etc. Mr Chan said that this year marks the 80th anniversary of victory in the War of Resistance, and the exhibition hall is an important place for patriotic education. He said he hopes that members of the study tour will take this opportunity to gain a deeper understanding of the hardships in national development and building a strong nation, cultivate a deeper and firmer patriotic sentiment through recognising historical facts, and consciously shoulder the responsibility of safeguarding national security.

        In the afternoon, Mr Chan met with the Secretary of the CPC Harbin Municipal Committee, Mr Yu Hongtao. They exchanged views on promoting exchanges and co-operation in various aspects between the two places in the future. Noting that Harbin has been added as one of the Mainland cities eligible for the Individual Visit Scheme since May last year, and that direct flights between Hong Kong and Harbin have been launched, Mr Chan said that the partnerships between the two places have become closer. He expressed his hope for the two cities to work together to explore more co-operation opportunities. In addition, Mr Chan mentioned that the HKSAR Government is steadfastly carrying out the work of patriotic education, including organising more Mainland exchange and study tours. He said he expected more Hong Kong young people to visit Harbin for exchanges and study, with an aim of enhancing Hong Kong young people’s sense of identity with, sense of belonging to, and pride towards the country.

        Mr Chan will conclude his visit and return to Hong Kong this afternoon.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ 15: Formulating a comprehensive population policy

    Source: Hong Kong Government special administrative region

    Following is a question by the Hon Nixie Lam and a written reply by the Secretary for Home and Youth Affairs, Miss Alice Mak, in the Legislative Council today (July 16):
     
    Question:

    According to data from the Census and Statistics Department, Hong Kong’s total fertility rate in 2024 was only 0.841, far below the 2.1 level required for population replacement. Furthermore, a survey by a youth service organisation indicated that only 36 per cent of young people in Hong Kong who had responded in the survey expressed a preference for marriage or childbearing. Another survey showed that just around 23.27 per cent of respondents aged between 19 and 29 expressed a desire to have children, ranking among the lowest levels globally. There are views that the Government should adopt measures to enhance marriage and fertility rates among young people and develop a comprehensive population policy to avoid population ageing and workforce shrinkage. In this connection, will the Government inform this Council:
     
    (1) whether it will commence a systematic survey and study on the marriage and fertility situation of young people in Hong Kong, so as to deeply analyse the core factors influencing their decisions regarding marriage and childbearing, particularly through assessment in areas such as financial burdens, housing difficulties and job stability, with a view to gaining a more precise understanding of their concerns and expectations; if so, of the direction and timetable of the survey and study; if not, the reasons for that;
     
    (2) as there are views pointing out that young people’s lack of knowledge and confidence in future planning and gender relations indirectly undermine their willingness to marry and have children, whether the Government will consider, through cross-departmental collaboration, integrating existing fertility support measures for young people (e.g. child-rearing subsidies, priority quotas for public housing allocation, and childcare services for working families) and consolidating such information within the Home and Youth Affairs Bureau’s “HKYouth+” mobile application, as well as adding a designated information corner to the application that covers topics such as reproductive health, sex education, and marriage and fertility support, with a view to strengthening support for young people in the aspects of affective education and reproductive health information; if so, of the timetable; if not, the reasons for that; and
     
    (3) as there are views pointing out that although the Government has established the Human Resources Planning Commission to follow up on population policy, Hong Kong’s current population policy still lacks comprehensiveness, whether the Government will review the Commission’s work or establish a task force coordinated by an official at the level of Secretary of Department to institutionally integrate cross-departmental resources, with a view to formulating more comprehensive population policy objectives for Hong Kong to address the long-term challenges of population development?
     
    Reply:
     
    President,
     
    In consultation with the Chief Secretary for Administration’s Office, the Deputy Chief Secretary for Administration’s Office, the Labour and Welfare Bureau (LWB), the Housing Bureau (HB), the Financial Services and the Treasury Bureau (FSTB) and the Health Bureau (HHB), the consolidated reply to the questions raised by the Hon Nixie Lam is as follows:
     
    (1) & (2) The Census and Statistics Department (C&SD) has been regularly collating data related to marriage and fertility trends across different age groups. The C&SD also publishes feature articles from time to time, giving a brief account of the marriage and fertility trends in Hong Kong and analysing the factors underlying such trends.
     
    Hong Kong and many countries or places worldwide are facing a decline in fertility rate. In the face of this challenge, the Government must formulate measures to raise fertility rate. As such, the Chief Executive (CE) announced in his 2023 Policy Address a host of measures to promote fertility and create a conducive environment for childbearing through a “combination punches” approach. These measures include providing Newborn Baby Bonus, giving families with newborns priority on flat selection and allocation, enhancing child care support and increasing tax concessions. Office/ bureaux implementing the measures include the Deputy Chief Secretary for Administration’s Office, the HB, the LWB, the HHB, the Home and Youth Affairs Bureau (HYAB) and the FSTB.
     
    The Hong Kong Housing Authority (HA) has implemented the Families with Newborns Allocation Priority Scheme and the Families with Newborns Flat Selection Priority Scheme to encourage childbearing by giving incentives to family applicants of public rental housing (PRH) and subsidised sale flats (SSF) sale exercises.  
     
    Regarding the allocation of PRH, the HA has implemented the Families with Newborns Allocation Priority Scheme since April 1, 2024. PRH family applications with babies born on or after October 25, 2023 and aged one or below are credited one year of waiting time. As at end-June 2025, about 5 000 PRH applications have been credited one year of waiting time under the scheme, of which about 420 families have already been successfully housed to PRH.
     
    As for SSF, starting from the Sale of Home Ownership Scheme (HOS) Flats 2024 (HOS 2024), the HA has implemented the Families with Newborns Flat Selection Priority Scheme which was announced in the 2023 Policy Address. A quota of about 40 per cent of the new flats for sale (i.e. 2 900 flats) under HOS 2024 were set aside for eligible applicants under the Families with Newborns Flat Selection Priority Scheme and the Priority Scheme for Families with Elderly Members for balloting and priority flat selection. Family applicants of HOS with babies born on or after October 25, 2023 are eligible if their children are aged three or below on the closing day of the application.
     
    During the application period of HOS 2024, the HA received a total of around 106 000 applications. Among them, around 50 000 were family applicants, of which around 19 000 (i.e. about 40 per cent) applied under the Priority Scheme for Families with Elderly Members and Families with Newborns Flat Selection Priority Scheme. Among these 19 000 applicants, 800 applicants have successfully purchased flats through the Families with Newborns Flat Selection Priority Scheme. If eligible families applying under the Families with Newborns Flat Selection Priority Scheme fail to purchase a flat under HOS 2024, they may still apply under the Scheme for priority flat selection as long as their children are aged three or below on the closing day of the application in subsequent SSF sale exercises.
     
    The Government announced in the 2023 Policy Address that a cash reward of $20,000 will be provided to eligible parents for each baby born from October 25, 2023, for a period of three years. Starting from October 25, 2023, parents can submit an application for the bonus at the same time when registering the birth of their baby and applying for a birth certificate. As of end-June 2025, a total of 49 567 qualified applications have been received, and the bonus has been distributed to 48 984 applicants, at a total amount of approximately $979 million. The Deputy Chief Secretary for Administration’s Office is carrying out a review of the Newborn Baby Bonus Scheme.
     
    The Government has been supporting parents who cannot take care of their children temporarily through subsidising non-governmental organisations (NGOs) to provide a variety of day child care services, including Child Care Centres (CCCs), the After School Care Programme and the Neighbourhood Support Child Care Project (NSCCP). To strengthen support for working families in childbearing, the Government has announced the setting up of additional 11 aided standalone CCCs in phases, doubling the total number of service places to reach around 2 000. The Government is extending the After School Care Programme for pre-primary children to cover all districts in phases, and increasing the number of service places under the NSCCP to 2 500 with the estimated number of beneficiaries increasing to 25 000. The Social Welfare Department will also provide information and assistance to private organisations applying for registration to operate CCCs, and encourage private organisations to provide child care support for their employees. Meanwhile, the Government reviews the Working Family Allowance (WFA) Scheme from time to time. The rates of the household and child allowances under the WFA Scheme have been increased by 15 per cent across the board with effect from April 2024, benefiting all households receiving the WFA. The WFA Scheme provides additional allowances for relevant childbearing families, and increasing the rates of the WFA helps further alleviate the burden of grassroots working families. Taking a four-person household with two eligible children as an example, the maximum monthly WFA they may receive have increased from the original amount of $4,200 to $4,830 at present.
     
    As regards tax concessions, starting from the year of assessment (YA) 2023/24, the basic child allowance and the additional child allowance for each child born during the YA have been raised from $120,000 to $130,000. In addition, starting from YA 2024/25, for taxpayers who live with their children born on or after October 25, 2023 and meet the prescribed conditions, the deduction ceiling for home loan interest or domestic rents will be raised from $100,000 to $120,000 for a maximum of 19 YAs. These measures can encourage childbearing by helping taxpayers to alleviate their financial burden from raising children.
     
    As regards antenatal services, currently the Obstetrics and Gynaecology Departments of the Hospital Authority and the Maternal and Child Health Centres (MCHCs) of the Department of Health (DH) provide free antenatal services for all local pregnant women who are eligible persons (who generally refer to holders of Hong Kong Identity Cards or such other persons as may be approved by the Chief Executive of the Hospital Authority/ Director of Health) to ensure the health of the pregnant women and their foetuses. The scope of services includes the first antenatal check-up, personal and family medical history, as well as various investigations and vaccinations conducted by doctors according to the clinical needs of individual pregnant women.
     
    Besides, as announced in the 2024 Policy Address, the DH will revamp maternal and child health and family planning services to strengthen pre-pregnancy counselling and parental education and promote healthy fertility. The DH will provide the new pre-pregnancy health services to reproductive age group women at the MCHCs in phases, support women in preparing for pregnancy through health consultation and counselling, health assessments, arrangement of blood tests and other investigations, and provide nutritional dietary and lifestyle advice, to align with the Government’s policy of encouraging and promoting healthy fertility, as well as protecting and advancing maternal and child health. Details on the above initiatives will be announced at an appropriate juncture. In addition, the DH will review and adjust the scope of the subsidised family planning service currently provided by NGOs, so as to dovetail with the Government’s policy of encouraging and promoting healthy fertility.
     
    The HYAB has been supporting the work of the Family Council (the Council) in promoting a culture of loving families to the general public through organising different publicity programmes and activities. In October 2024, the HYAB and the Council launched the five-year Funding Scheme on the Promotion of Family Education (the Scheme). With an annual funding of $8 million, the Scheme subsidises non-profit-making community projects in promoting family education. NGOs may, based on societal needs, apply to the Scheme for funding to implement projects related to topics such as family building, new parents, and marriage-related. On the other hand, the Council has been encouraging the wider adoption of more diversified and flexible family-friendly employment practices (FFEPs) in the community. Measures include launching promotional videos entitled “Family-friendly Workplace”, which feature various FFEPs adopted by local companies, and collaborating with the Radio Television Hong Kong to produce radio programmes to promulgate different types of FFEPs. These measures will also help foster a pro-family environment.
     
    The HYAB launched the first release of the “HKYouth+” youth mobile application in March 2024, and has been continuously updating it to cater to the needs of young people. Its content cover various areas, including personal development opportunities, local hot topics, national development, world news, arts and leisure, innovation and technology, physical and mental wellness. It aims to help young people expand their knowledge, explore interests and enrich themselves in different aspects. The HYAB will work with relevant bureaux and departments to encourage them to make use of “HKYouth+” for strengthening promotion of various support measures to the youth community.
     
    (3) The population policy straddles a wide range of policy areas, involving various bureaux. For the current term of the HKSAR Government, in addition to the standing committees, the CE and Secretaries and Deputy Secretaries of Departments are now providing high-level steer as necessary through various channels, such as working groups and inter-departmental meetings, to coordinate relevant inter-departmental work.
     
    Chaired by the Chief Secretary for Administration, the Human Resources Planning Commission (HRPC) consolidates resources and efforts of the Government and various sectors to examine, review and holistically co-ordinate policies and measures on human resources, including issues pertaining to the population policy. The HRPC is a high-level policy platform, with eight policy secretaries, including Secretary for Commerce and Economic Development, Secretary for Constitutional and Mainland Affairs, Secretary for Education, Secretary for Financial Services and the Treasury, Secretary for Health, Secretary for Innovation, Technology and Industry, Secretary for Labour and Welfare and Secretary for Security; the Government Economist; the Commissioner for Census and Statistics and the Chairmen of the Employees Retraining Board, the Hong Kong Council for Accreditation of Academic and Vocational Qualifications and the Vocational Training Council as ex-officio members; and non-official members drawn from a diverse mix of experts and stakeholders from different fields and sectors. Since its establishment in 2018, the HRPC has looked into a number of issues to tackle the demographic challenges, facilitating the Government to formulate and refine the relevant policies and measures.
     
    Currently, population policy measures have been subsumed under the portfolios of various bureaux as part of the ongoing efforts. As the Government’s existing steering and inter-departmental co-ordination mechanism are flexible and effective, the Government does not consider it necessary to set up a separate structure for the work on the population policy.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ3: Facilitating enterprises to list in Hong Kong

    Source: Hong Kong Government special administrative region

    LCQ3: Facilitating enterprises to list in Hong Kong 
    Question:
     
         To dovetail with the latest economic trends and corporate needs, the Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEX) are conducting a comprehensive review of the listing regime, including reviewing the listing requirements, improving the vetting process and optimising the thresholds for dual listings, so as to further facilitate the emerging sector and overseas enterprises to raise capital in Hong Kong. In this connection, will the Government inform this Council:
     
    (1) whether it will drive the HKEX and the SFC to adjust the listing thresholds for companies with weighted voting right structures and enterprises from the innovative sector, so as to further attract new economy as well as innovation and technology companies to list in Hong Kong;
     
    (2) whether it will consider driving the HKEX to enhance the public float and market capitalisation requirements for listed companies, so as to facilitate more large-scale and overseas enterprises to list in Hong Kong; and
     
    (3) whether it knows the strategies put in place by the HKEX to enhance the efficiency and flexibility of the vetting process for listing, as well as to provide stronger support and clearer guidance for overseas quality enterprises, in response to the increasingly competitive environment of the international capital market?
     
    Reply:
     
    President,
     
         As an international financial centre, Hong Kong has been taking forward high-quality development of its capital market through institutional innovation, thereby enhancing the role as a global fundraising hub. In recent years, the Government has driven the Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing Limited (HKEX) to introduce a series of reforms to the listing regime. These include tailored listing mechanisms for new economy enterprises with weighted voting rights (WVR) structures and technology companies, the establishment of a regulatory framework to facilitate dual primary or secondary listing of overseas listed issuers in Hong Kong, etc.
     
         With the implementation of the series of listing reforms, the primary market has shown notable vibrancy this year. In the first half of the year, Hong Kong recorded 42 initial public offerings (IPOs), raising over HK$107 billion in total, approximately 22 per cent more than the full-year total for last year and ranking first globally in the year-to-date. The number of listing applications is also increasing rapidly. At the end of June, the HKEX was processing over 200 listing applications, the highest level since the same period in 2021. Riding on the positive momentum in 2025, the HKEX and the SFC are taking forward further enhancements to the listing regime so as to boost the vitality and competitiveness of Hong Kong’s listing platform.
     
         In consultation with the SFC and the HKEX, my response to the three parts of the question is as follows:
     
    (1) and (2) To closely follow market developments, the SFC and the HKEX continuously review their listing regime and related requirements, with a view to attracting more high-quality enterprises including overseas and new economy companies to list in Hong Kong, while balancing relevant risks and investor protection. Notably, the HKEX relaxed the market capitalisation requirement for Greater China issuers seeking secondary listing in Hong Kong and removed the relevant condition of being an “innovative company”. “Grandfathered Greater China issuers” and “non-Greater China issuers” with WVR or variable interest entity structures that meet the secondary listing requirements have also been provided with greater flexibility to obtain primary listing status in Hong Kong.
     
         In September 2024, the HKEX and the SFC lowered the market capitalisation threshold at the time of listing for specialist technology companies to enhance the flexibility of the relevant listing framework. In addition, a dedicated “technology enterprises channel” (TECH) was launched in May this year to provide tailored guidance to specialist technology and biotechnology companies before they submit their listing applications, thereby providing support to issuers in their listing preparation process. The issuers may also submit listing applications confidentially, taking into account the unique characteristics of relevant enterprises. These measures are also applicable to overseas technology companies. The HKEX and the SFC will allocate resources flexibly based on application volumes to ensure efficient processing.
     
         The HKEX and the SFC are committed to improving Hong Kong’s listing regime to facilitate listing of more high-quality companies, thereby enhancing the overall competitiveness and vibrancy of Hong Kong as a listing venue. We are conducting a comprehensive review, with the scope of review to cover multiple aspects of the listing regime. In addition to supporting fundraising by enterprises, it also has to safeguard protection of investors’ interests and the overall market quality so as to attract more investors to invest in Hong Kong, which requires in-depth engagement with different stakeholders. We are aware that Dr the Hon Starry Lee and two other Members published a report last week putting forward various recommendations to further enhance the Listing Rules to attract listing of high-quality overseas issuers in Hong Kong. The relevant areas such as reviewing the specific requirements for primary, secondary and dual primary listing, as well as post-listing continuing obligations, etc, are already covered in the scope of the ongoing review by the HKEX and the SFC. Specific proposals will be considered as part of the process. The HKEX will announce relevant enhancement measures with public consultation to be conducted as appropriate once they are ready.
     
         In addition, the HKEX launched a consultation on proposals to enhance IPO price discovery and open market regulation in December 2024, which include a tiered approach to minimum public float requirements at the time of listing based on issuers’ market capitalisation, and seeking views on whether issuers should be allowed greater flexibility to maintain a lower public float post-listing. The HKEX is currently consolidating and reviewing the feedback received, and will conduct further consultation on specific proposals regarding the ongoing public float requirements.
     
    (3) We are committed to attracting companies of various sizes and with growth potential from around the world to list and raise funds in Hong Kong. To this end, the HKEX has streamlined the listing requirements for overseas issuers and introduced a set of core shareholder protection standards applicable to all issuers to facilitate compliance. The HKEX has also issued guidance for overseas issuers seeking to list in Hong Kong and published further jurisdiction-specific explanatory notes on a need basis. To facilitate fundraising by more high-quality companies in Hong Kong, the SFC and the HKEX implemented the enhanced timeframe for approval of new listing applications last year (Note), thereby improving the transparency and efficiency of the listing application process, and providing greater certainty on the vetting time. Enterprises with dual primary listing that meet the relevant eligibility criteria are currently also eligible for inclusion in Southbound trading of Stock Connect.
     
         Building on the various enhancements to the listing regime for overseas issuers, HKEX continues to review the scope of recognised stock exchanges to enable companies listed on overseas main markets to seek secondary listing in Hong Kong. Following the inclusion of the Saudi Exchange, the Indonesia Stock Exchange, the Abu Dhabi Securities Exchange and the Dubai Financial Market onto the list of recognised stock exchanges in 2023 and 2024, the HKEX further added the Stock Exchange of Thailand in March this year, bringing the total number of recognised overseas exchanges on the list to 20.
     
         Looking ahead, the Government, together with the SFC and the HKEX, will continue to step up external promotion efforts to showcase the latest developments and strengths of Hong Kong’s financial services sector, including the listing platform. Meanwhile, the HKEX will explore further expansion of the scope of recognised stock exchanges and simplification of the listing process for overseas issuers, while more proactively providing guidance to facilitate their preparations for listing in Hong Kong.
     
         Thank you, President.
     
    Note: Including confirmation within 40 business days for general new listing applications, or within 30 business days for eligible A-share companies, on whether there are any major regulatory concerns.
    Issued at HKT 14:50

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Government investment for mentoring, funding access and skills development to spark tech innovation outside capital

    Source: United Kingdom – Government Statements

    Press release

    Government investment for mentoring, funding access and skills development to spark tech innovation outside capital

    Tech entrepreneurs outside London will get support to grow their businesses, as the government launches a £1 million programme which is set to ignite innovation and bolster growth beyond the capital.

    Government investment to boost tech innovation across the UK.

    • New programme to supercharge tech growth in UK regions including Scotland, the North East, Humber and East, and South Yorkshire, and bolster local economies.
    • £1 million government investment will provide mentoring, funding access and skills development for entrepreneurs outside of London.
    • Programme launched as government looks to drive economic growth and prosperity in every part of the UK, under the PM’s Plan for Change.

    The Department for Science, Innovation and Technology (DSIT) has today (Wednesday 16 July) announced the launch of the Regional Tech Booster programme, aimed at accelerating the growth of tech clusters and early-stage digital startups in regions including Scotland, the North East, Humber and East, and South Yorkshire.

    While London remains Europe’s leading tech hub, the new programme will help close the gap between the capital and regional tech ecosystems by addressing key challenges including entrepreneur support, access to finance, and skills development.

    It will do so by delivering tailored support programmes for tech founders, such as mentoring, investment promotion events, and workshops to share best practices across regional tech communities.

    Minister for Tech and Future Digital Economy, Baroness Jones said:

    Tech innovation doesn’t stop at the M25 and we’re choosing to invest in the talent and ideas flourishing across the UK.

    This investment forms an important part of our Plan for Change to kickstart economic growth in every part of the UK. By supporting regional tech entrepreneurs, we’re creating the conditions for innovation and prosperity to flourish.

    The initiative complements existing government support for regional development, including Project Gigabit, the Local Innovation Partnership Fund, AI Growth Zones, and digital skills programmes. It demonstrates a strategic choice to invest in regional tech ecosystems as part of the government’s wider Industrial Strategy.

    Katie Gallagher, chair of the UKTCG and managing director of Manchester Digital, said:

    The UK’s nations and regions are home to a diverse and growing network of tech ecosystems. They already make a vital contribution to the economy and with the right support, they can do even more.

    We’re pleased that DSIT has selected the UK Tech Cluster Group to pilot a new approach. This programme will focus on collaboration, connecting clusters, sharing best practice, supporting founders and entrepreneurs and creating a practical playbook for building strong, sustainable regional tech economies.

    With members from across the UK’s nations and regions, UKTCG is uniquely placed to deliver this work ensuring every part of the country benefits from the UK’s thriving tech sector.

    UK Tech Cluster Group will focus on ensuring the programme delivers sustainable benefits that continue beyond the initial funding period, working closely with industry, academic institutions and local tech leaders to strengthen regional tech communities. Information on how regional tech clusters can apply for the programmes will be announced later this year.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Q1 Trading Statement for the three months ended 30 June 2025

    Source: GlobeNewswire (MIL-OSI)

         
         
      Intermediate Capital Group plc

    16 July 2025

    Q1 Trading Statement for the three months ended 30 June 2025

    Highlights

    • AUM of $123bn; fee-earning AUM of $82bn; AUM not yet earning fees of $19bn
    • Fee-earning AUM up 4%1 in the quarter, up 11%1 year-on-year
    • Fundraising in the quarter of $3.4bn, driven by Europe IX ($1.5bn / €1.3bn) and Infrastructure Europe II ($1.2bn / €1.0bn). Focus from LPs on liquidity and investment performance is continuing to drive manager selection
    • Infrastructure Europe has shown strong momentum into its final close, with Fund II receiving substantially more client capital than the prior vintage: at 30 June 2025 Infrastructure Europe II had a Total Fund Size of €2.5bn (Fund I: €1.5bn), and we expect to close a further €0.6bn before the end of the current quarter, reaching the hard cap for the strategy
    • Europe IX has had an impressive start to the fundraise, with global demand from current and new clients attracted by the strategy’s track record of private equity-like returns with downside protection and high DPI. At 30 June 2025 the Total Fund Size was €5.8bn (Europe VIII: €8.1bn)
    • Investment landscape remains very attractive for a number of strategies, including structured capital, secondaries and real assets equity
    • FY25 Sustainability and People Report published in June 2025, available here

    Unless otherwise stated the financial results discussed herein are on the basis of alternative performance measures (APM) basis; see full year results
    1 On a constant currency basis

    		  

    PERFORMANCE REVIEW

      AUM        
          Growth1
        30 June 2025 Last three months Year-on-year Last five years (CAGR)
      AUM $123bn         3%                 15%                 18%        
      Fee-earning AUM $82bn         4%                 11%                 14%        
               
      1 On a constant currency basis
      Business activity                
                       
      $bn Fundraising   Deployment1   Realisations1,2
      Q1 FY26 LTM   Q1 FY26 LTM   Q1 FY26 LTM
      Structured Capital and Secondaries 1.9 13.3   1.0 9.8   0.4 2.0
      Real Assets 1.3 3.2   0.5 2.7   0.3 1.6
      Debt3 0.2 5.8   1.3 3.8   0.4 3.9
      Total 3.4 22.3   2.8 16.3   1.1 7.5
                       
      1 Direct investment funds; 2 Realisations of fee-earning AUM; 3 Includes Deployment and Realisations for Private Debt only.

    PERIOD IN REVIEW

    AUM and FY26 fundraising

    At 30 June 2025, AUM stood at $123bn, fee-earning AUM at $82bn and dry powder at $34bn. The bridge between AUM and fee-earning AUM is as follows:

    $m Structured Capital and Secondaries Real Assets Debt Seed investments Total
    Fee-earning AUM 39,347 9,375 33,472   82,194
    AUM not yet earning fees 3,278 1,187 14,639 — 19,104
    Fee-exempt AUM 10,686 5,918 1,393 — 17,997
    Balance sheet investment portfolio1 2,412 563 (53) 360 3,282
    AUM 55,723 17,043 49,451 360 122,577
    1 Includes elimination of $657m (£479m) within Credit due to how the balance sheet investment portfolio accounts for and invests into CLO’s managed by ICG and its affiliates

    AUM of $123bn

    AUM ($m) Structured Capital and Secondaries Real Assets Debt Seed investments Total
    At 1 April 2025 51,499 12,922 47,557 379 112,357
    Fundraising 1,933 1,355 154 — 3,442
    Other additions1 202 2,050 75 — 2,327
    Realisations (471) (233) (585) — (1,289)
    Market and other movements 2,607 889 2,218 — 5,714
    Balance sheet movement (47) 60 32 (19) 26
    At 30 June 2025 55,723 17,043 49,451 360 122,577
    Change $m 4,224 4,121 1,894 (19) 10,220
    Change %         8%                 32%                 4%                 (5)        %         9%        
    Change % (constant exchange rate)         3%                 21%                 (1)        %         —                 3%        
    1 Other additions within Real Assets includes $1.9bn non fee-eligible leverage capacity within certain Real Estate strategies

    Fee-earning AUM of $82bn

    Fee-earning AUM ($m) Structured Capital and Secondaries Real Assets Debt Total
    At 1 April 2025 36,086 7,711 31,330 75,127
    Funds raised: fees on committed capital 1,470 1,242 — 2,712
    Deployment of funds: fees on invested capital 281 162 1,235 1,678
    Total additions 1,751 1,404 1,235 4,390
    Realisations (456) (279) (774) (1,509)
    Net additions / (realisations) 1,295 1,125 461 2,881
    Stepdowns — — — —
    FX and other 1,966 539 1,681 4,186
    At 30 June 2025 39,347 9,375 33,472 82,194
    Change $m 3,261 1,664 2,142 7,067
    Change %         9%                 22%                 7%                 9%        
    Change % (constant exchange rate)         4%                 13%                 1%                 4%        

    FY26 fundraising1

    At 30 June 2025, closed-end funds and associated SMAs that were actively fundraising2 included Europe IX, Asia-Pacific Infrastructure I and Real Estate equity. We anticipate launching LP Secondaries II during FY26.

    1 The timings of launches and closes depend on a number of factors, including the prevailing market conditions
    2 Excluding Credit (CLOs and Liquid Credit)

     
    Balance sheet

    • Balance Sheet Investment Portfolio valued at £2.9bn
    • Total available liquidity of £1.1bn (FY25: £1.1bn) and net financial debt of £477m (FY25: £629m)

    FOREIGN EXCHANGE RATES

      Average rate Period end
      Q1 FY25 Q1 FY26 31 March 2025 30 June 2025
    GBP:EUR 1.1753 1.1759 1.1944 1.1652
    GBP:USD 1.2626 1.3507 1.2918 1.3732
    EUR:USD 1.0743 1.1488 1.0815 1.1785

    COMPANY TIMETABLE

    Half year results announcement 13 November 2025

    ENQUIRIES

    Shareholders and debtholders / analysts:  
    Chris Hunt, Head of Corporate Development and Shareholder Relations, ICG +44(0)20 3545 2020
    Media:  
    Clare Glynn, Head of Corporate Communications, ICG +44(0)79 3435 7794

    This results statement may contain forward looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this report and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward looking information.

    ABOUT ICG

    ICG (LSE: ICG) is a global alternative asset manager with $123bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets.

    Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.

    *As at 30 June 2025.

    The MIL Network –