Category: Economy

MIL-Evening Report: Treasury warns the government it may not balance the budget or meet its housing targets

Source: The Conversation (Au and NZ) – By John Hawkins, Head, Canberra School of Government, University of Canberra

Kokkai Ng/Getty

In the runup to each election, federal treasury produces a “blue book” and a “red book”, with advice tailored to the priorities of the two alternative governments.

One of these is given to the incoming government and the other is never released. Freedom of Information requests have generally resulted in only heavily redacted versions of the incoming government brief being made public.

But this week, the table of contents was accidentally released, revealing treasury’s view of how the government should be handling the economy.

Taxes “need to be raised”

Treasury suggests more tax should be raised. This is unsurprising – there is bipartisan support for more defence spending, and an ageing population means more spending on health and aged care, only partially offset by less spending on education.

Read more:
The 2025 budget has few savings and surprises but it also ignores climate change

The government is hoping to slow spending on the National Disability Insurance Scheme but it is still projected to grow much faster than government revenue.

No one wants to default on government debt. So higher bond yields and the deficits incurred during the COVID pandemic, and projected for the next decade, mean governments will be paying more interest.

There are few areas of government spending expected to contract. So the cruel arithmetic is unless we are happy to keep government debt – already close to a trillion dollars – growing indefinitely, taxes need to rise.

The challenge is to find the most efficient way to do so. We don’t know whether Treasury made specific suggestions.

As we will probably hear at next month’s Economic Reform Roundtable, most economists think we should be putting more tax on things we want to discourage (greenhouse gas emissions, consumption of unhealthy products) and less on things we want to encourage (working, saving).

We want more taxes that do not alter economic activity (such as on land and excess profits from minerals) and less that discourage useful economic activities (such as stamp duties, which discourage mobility). We also want less tax where activity is being driven into black markets (arguably the case with cigarettes).

There may be some areas where tax concessions are excessive. Superannuation tax concessions are subsidising some rich people to build much larger savings than are needed for a comfortable retirement. (A proposal from the government to trim these will be before the Senate when parliament resumes next week.)

Capital gains tax concessions, which mainly help the rich, are also hard to justify.

We also want to consider equity. Most people accept that a tax system should be progressive. This means the rich pay a higher proportion of income in taxes than do the poor. In our current tax system, income and land taxes are progressive but GST and some other excises are regressive. The overall system is roughly proportional.

Housing target “will not be met”

Treasury also warned the government that its pledge to build 1.2 million homes over five years will be very difficult to achieve. In the year to June 2024, just 176,000 homes were built.

Even the relevant ministers have described the target as “ambitious”. Treasurer Jim Chalmers said on Monday “we will need more effort”.

Treasury has cast doubt on the government’s plans to build 1.2 million new homes over five years. So far only 176,000 have been built.
Inga Blessas/Shutterstock

Many commentators have described how difficult it will be to achieve this target.

A shortage of construction workers, the impact of planning restrictions, and weak productivity are also concerns. A recent study by the Productivity Commission concluded:

over the past 30 years, the number of dwellings completed per hour worked by housing construction workers has declined by 53%.

Concerns about the US

Another unsurprising revelation in the briefing is Treasury is concerned about the economic consequences of Donald Trump as US president.

One threat comes from the ever-changing array of tariffs Trump is introducing. If other countries retaliate by raising their own tariffs, the adverse impact on the global economy will be even greater.

Read more:
What would a second Trump presidency mean for the global economy?

We can get some idea of the possible impact on Australia from modelling published by the Reserve Bank. In its Statement on Monetary Policy, the bank presented two alternative scenarios.

Under what it called the “trade war” scenario, global gross domestic product declines by more than it did during the 2007 global financial crisis. Australian unemployment increases to nearly 6%. Under the “trade peace” scenario, unemployment remains around its current 4% level.

Another concern held by Treasury was the possible loss of independence of the US Federal Reserve Board (or “Fed”), the counterpart to Australia’s Reserve Bank. Trump has vowed to replace Fed chair Jerome Powell with someone more compliant when Powell’s term ends next year.

Trump wants the Fed to slash short-term interest rates regardless of the economic circumstances. This would raise the risk of a surge in inflation. It could also lead to higher bond yields, which would flow into higher interest rates charged by banks on loans. This could plunge the US economy into recession, with impacts felt around the world.

John Hawkins was formerly a senior economist in the Australian Treasury.

– ref. Treasury warns the government it may not balance the budget or meet its housing targets – https://theconversation.com/treasury-warns-the-government-it-may-not-balance-the-budget-or-meet-its-housing-targets-261084

MIL OSI Analysis – EveningReport.nz –

July 14, 2025
MIL-Evening Report: Confusing for doctors, inequitable for patients: why Australia’s medicinal cannabis system needs urgent reform

Source: The Conversation (Au and NZ) – By Christine Mary Hallinan, Senior Research Fellow, Department of General Practice and Primary Care, Faculty of Medicine, Dentistry and Health Sciences, The University of Melbourne

Vanessa Nunes/Getty Images

In 2024 alone, Australia’s medicines regulator, the Therapeutic Goods Administration (TGA), authorised at least 979,000 prescription applications for medicinal cannabis through its specialised access pathways.

These “specialised access” mechanisms were originally designed for occasional, case-by-case use of unapproved drugs. But they have become mainstream.

As more and more people receive medicinal cannabis prescriptions, we’re left with a system that is misaligned with its original purpose.

The current prescribing landscape for medicinal cannabis is confusing for doctors, inequitable for patients, and difficult to regulate.

The Australian Health Practitioner Regulation Agency (Ahpra) recently announced it’s going to crack down on unsafe prescribing. But this doesn’t go far enough. The system needs urgent reform.

What is medicinal cannabis used for?

Medicinal cannabis was legalised in Australia in 2016. Products come in different forms including oils, liquids, capsules, gels (which can be applied to the skin), dried flower (which can be inhaled using a vapouriser) and gummies.

Key ingredients include THC (tetrahydrocannabinol) and CBD (cannabidiol). THC is the main psychoactive compound in cannabis, and is responsible if a “high” is experienced.

When it was first legalised, medicinal cannabis was intended for patients with complex needs and severe, treatment-resistant conditions.

The TGA clearly indicated medicinal cannabis should not be considered a first-line treatment for any condition, and should be administered with a “start low, go slow” dosage approach.

Patients for whom it might be deemed appropriate included those receiving palliative care, or suffering with intractable epilepsy, multiple sclerosis, nausea and vomiting from chemotherapy, or chronic pain unresponsive to standard care.

But over time, prescribing has expanded well beyond these cases. Today, most medicinal cannabis prescriptions are given for relatively common conditions such as chronic pain, anxiety and sleep disorders.

What does the evidence say?

The evidence remains inconsistent. Chronic pain – the most common reason medicinal cannabis is prescribed in Australia – offers a key example.

According to a recent TGA review, some randomised trials suggest medicinal cannabis may help a subset of patients achieve moderate reductions in pain. However, many studies are small, of variable quality, and don’t account for long-term effects.

And like all medicines, medicinal cannabis carries risks. Products containing THC have been linked to side-effects such as sedation, dizziness and cognitive impairment.

While generally better tolerated, CBD is not risk-free. For example, both CBD and THC can interact with certain medications, heightening the likelihood of adverse effects.

Access over evidence

In Australia, approved medicines undergo rigorous clinical testing before they’re registered. Drug manufacturers’ applications to the TGA normally include detailed data on efficacy as well as long-term safety monitoring and quality controls.

But driven by patient advocacy, political responsiveness, and commercial momentum, medicinal cannabis has come to reflect a different model.

Most medicinal cannabis products – bar two which have TGA approval – lack the evidence demonstrating safety, quality and efficacy required of registered pharmaceuticals.

In other words, the majority are not subject to the rigorous trials or data standards required for formal registration with the TGA’s Australian Register of Therapeutic Goods.

For many doctors, whose prescribing has traditionally been guided by strong trial data and rigorous regulatory review, this doesn’t sit well.

Doctors are often flying blind

While companies can legally sell cannabis products via access schemes without investing in clinical research, doctors are expected to prescribe without consistent information on what works, for whom, and at what dose.

The TGA oversees access pathways but is neither resourced nor mandated to provide clinical oversight or direct support to prescribers, leaving many clinicians to navigate the system alone.

Prescriptions are frequently granted via telehealth and posted to patients.

Growing concerns have emerged that some care models – particularly high-volume telehealth services – are prioritising patient throughput over clinical judgment, and not spending enough time with patients.

For example, Ahpra reported eight practitioners issued more than 10,000 medicinal cannabis scripts in a six-month period, while one appeared to have issued in excess of 17,000.

The surge in prescribing has been further shaped by active marketing from some cannabis companies, outpacing the development of coordinated clinical guidance and safety monitoring infrastructure.

Many people who get a script for medicinal cannabis do so via telehealth.
Geber86/Shutterstock

Access and affordability: a system failing patients

Some people, including those living in rural and remote areas, can find it difficult to navigate medicinal cannabis prescribing processes. This can be due to limited digital access and fewer opportunities for follow-up with a local GP. These challenges make it harder for people to make informed decisions about their care.

Cost is also a major issue, particularly where bulk billing is unavailable or multiple consultations are needed. This is on top of the cost of the products.

One of the two TGA-approved medicinal cannabis products, Sativex, used to treat muscle stiffness in multiple sclerosis, is not currently subsidised by the Pharmaceutical Benefits Scheme. This means patients pay the full cost, which ranges between A$700 and $800 for a 6–8 week supply.

Read more:
We looked at 54 medicinal cannabis websites to see if they followed the rules. Here’s what we found

What needs to change?

Australia’s medicinal cannabis system is based on a fragmented evidence base and a fast-growing market operating with limited visibility into how products are used or evaluated. Addressing these challenges will require coordinated reform across multiple fronts.

1. Capture real-world data

Most urgently, we need robust, real-world data. To deliver safe and equitable care, we must know how medicinal cannabis is being prescribed, for what conditions, under what circumstances, and with what outcomes.

Without this, we cannot answer the most basic questions about clinical benefits or track adverse events.

Real-world data, such as de-identified health information from clinics, could help inform better clinical and policy decisions.

2. Build a national accreditation model

Australia needs a national prescriber accreditation model for medicinal cannabis, developed in collaboration with clinicians, regulators and professional bodies.

Such a model would help ensure prescribing is clinically appropriate, evidence-informed, and consistent with evolving standards of care. In practice, this would mean health professionals would need to complete specific training before prescribing medicinal cannabis.

This approach is not without precedent. For example, some health professionals must undergo immuniser accreditation before they can administer vaccines independently.

3. Tackle inequity

Finally, we must confront persistent access inequities. That includes exploring government subsidies for TGA-approved medicinal cannabis products. No one should have to choose between financial hardship and safe access.

Dr Christine Hallinan, Senior Reseach Fellow, conducted research on the pharmacovigilance of medicinal cannabis at the University of Melbourne as part of the Pharmacovigilance theme within the Australian Centre for Cannabinoid Clinical and Research Excellence (ACRE), which was funded by the National Health and Medical Research Council (NHMRC) through the Centre of Research Excellence (CRE) scheme. She served as an Associate Investigator on ACRE from 2017 to 2023. Christine Hallinan is also a member of an Expert Roundtable on medicinal cannabis, chaired by Ian Freckelton AO KC and facilitated by Montu. The Roundtable brings together experts from medicine, law, research, and policy to contribute recommendations for a more evidence-based and fit-for-purpose regulatory framework. These roles are disclosed in the interest of transparency and do not influence the content or conclusions of this work.

– ref. Confusing for doctors, inequitable for patients: why Australia’s medicinal cannabis system needs urgent reform – https://theconversation.com/confusing-for-doctors-inequitable-for-patients-why-australias-medicinal-cannabis-system-needs-urgent-reform-257249

MIL OSI Analysis – EveningReport.nz –

July 14, 2025
MIL-OSI New Zealand: Rural News – New finance rules risk cutting off rural lending – Federated Farmers

Source: Federated Farmers

Federated Farmers is calling for new proposed ‘green’ finance rules to be scrapped, warning they’re ideologically driven, unworkable, and risk doing real harm to rural communities.

In a letter sent to Ministers and key officials on July 11, the organisation outlined a series of serious concerns with the Sustainable Finance Taxonomy.

“This framework is fundamentally flawed,” Federated Farmers banking spokesperson Mark Hooper says.

“It has been created without meaningful input from working farmers, it imposes unrealistic standards, and it risks cutting off financial services to legitimate, productive rural businesses.”

The Sustainable Finance Taxonomy is being developed by the Centre for Sustainable Finance and the Ministry for the Environment to provide a consistent framework for defining what is ‘green’ or ‘sustainable’ in financial markets.

Federated Farmers says it would create major risks for New Zealand’s agricultural sector and is urging the Government to halt the process entirely.

“One of our core concerns is the lack of practical farming expertise involved in developing the taxonomy,” Hooper says.

“There are no hands-on farmers involved with the Technical Advisory Group. Instead, it’s full of shiny-shoed bankers, sustainability advisors, and forestry lobbyists.

“If you’re designing a finance framework for agriculture, farmers must be at the table. This is a total governance failure.”

Without real-world knowledge of farming systems, the framework fails to reflect the operational realities and sustainability efforts already embedded in New Zealand’s primary sector.

For example, the proposed taxonomy defines ‘green’ farming as producing less than one tonne of CO₂ equivalent per hectare per year.

“This threshold is so low that no working New Zealand farm could realistically qualify, even though we’re home to the most emissions-efficient food producers in the world,” Hooper says.

“It s

MIL OSI New Zealand News –

July 14, 2025
MIL-OSI New Zealand: Education – Ara to stand-alone from 1 January 2026

Source: Ara Institute of Canterbury

Attribution: Darren Mitchell, Executive Director – Ara Institute of Canterbury

Ara Institute of Canterbury welcomes the Government’s decision to re-establish Ara as a stand-alone institution from 1 January 2026.

This milestone reflects the strength of our financial position, the capability and resilience of our people, and the strategic changes we’ve made to ensure Ara is future-ready. It also recognises our proud legacy of delivering high-quality vocational education and training to the Canterbury region and beyond.

Our return to independence is more than a structural change; it’s a powerful endorsement of the value Ara brings to our communities and industries. It means we can be even more responsive to local needs, more agile in our decision-making and more focused on delivering the skills and innovation that power Aotearoa New Zealand’s economy.

For more than 120 years, Ara has been the cornerstone of vocational education and training in Waitaha Canterbury. As we look ahead, we remain dedicated to producing confident, work-ready graduates who will lead and uplift the industries and communities they serve.

This next chapter is made possible by the dedication of our kaimahi. Their unwavering commitment to our learners, our region and our shared future has laid the foundation for Ara to thrive as an independent institution once again, and we’re ready to move forward together.

MIL OSI New Zealand News –

July 14, 2025
MIL-OSI China: China, US intensifying efforts to implement London trade talk outcomes: Customs official

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

China and the United States are accelerating efforts to implement outcomes from the framework reached during the economic and trade talks in London, an official with the General Administration of Customs (GAC) said Monday.

Following positive progress in recent economic and trade talks in Geneva and London, trade between the two countries recovered to over 350 billion yuan (about 49 billion U.S. dollars) last month from less than 300 billion yuan in May, Wang Lingjun, deputy head of the GAC, told a press conference.

Wang said China-U.S. economic and trade cooperation was mutually beneficial in nature, and that it represents the irreversible trend of globalization, the need for deeper industrial chain integration, and the demands for collaboration on innovation between enterprises of the two countries and improvement of the well-being of the two peoples.

Describing the consensus reached in Geneva and the framework established in London as “hard-won,” he said China hopes the United States will work with China to make cooperation the main theme of bilateral economic and trade ties, steer the global trade system back to a fair and open track, and contribute to the recovery and growth of the global economy.

MIL OSI China News –

July 14, 2025
Nigeria’s former President Muhammadu Buhari dies in London, PM Modi offers condolences

Source: Government of India

Source: Government of India (4)

Nigeria’s former president, Muhammadu Buhari, who led Africa’s most populous country from 2015 to 2023 and was the first Nigerian president to oust an incumbent through the ballot box, died in London on Sunday, a presidential spokesperson said.

“President Buhari died today in London at about 4:30 p.m. (1530 GMT), following a prolonged illness,” President Bola Tinubu’s spokesperson said in a statement.

The spokesperson said Tinubu had directed Vice President Kashim Shettima and his chief of staff to travel to London to collect and accompany Buhari’s body back to Nigeria for burial.

Prime Minister Narendra Modi expressed grief over Buhari’s demise.

In a post on X, PM Modi said, “Deeply saddened by the passing of former President of Nigeria Muhammadu Buhari. I fondly recall our meetings and conversations on various occasions. His wisdom, warmth and unwavering commitment to India–Nigeria friendship stood out. I join the 1.4 billion people of India in extending our heartfelt condolences to his family, the people and the government of Nigeria.

A Muslim, Buhari was expected to be buried according to Muslim rites in his home state of northwestern Katsina, government officials said.

Buhari, 82, first led the country as a military ruler after a coup in the 1980s. He earned a devoted following for his brand of anti-corruption conviction politics.

He referred to himself as a “converted democrat” and swapped his military uniform for kaftans and prayer caps.

“I belong to everybody and I belong to nobody,” was a constant refrain Buhari told supporters and critics alike.

Buhari defeated Goodluck Jonathan in 2015 in what was judged to be Nigeria’s fairest election to date. Many hoped the retired major general would crack down on armed groups, just as he had as the country’s military head of state.

Instead, violence that had mostly been confined to the northeast spread. That left swathes of Nigeria outside the control of its security forces as gunmen in the northwest, armed separatists and gangs in the southeast roamed unchecked.

Much of his appeal lay in the anti-corruption ethos that was a central plank of his agenda both as a military and civilian ruler. He said endemic corruption in Nigeria’s political culture was holding people back.

‘BABA GO SLOW’

But Buhari quickly disappointed after his 2015 win.

He took power as Nigeria was reeling from jihadist group Boko Haram’s kidnapping of nearly 300 schoolgirls from the northeastern town of Chibok.

He took six months to name his cabinet. During that time, the oil-dependent economy was hobbled by low crude prices, prompting people to call him “Baba Go Slow”.

He retained his popularity in poor, largely Muslim northern Nigeria, where voters propelled him to his second victory in 2019, despite his first term being blighted by Nigeria’s first recession in a generation, militant attacks on oilfields, and repeated hospital stays for an undisclosed illness.

On the economy, Buhari applied the same approach that failed when he was in power in the 1980s – keeping the currency artificially high, as a matter of national pride. Just as in his first stint in power, the president ignored the IMF’s advice to devalue the naira.

In 2022 the production of oil – by far Nigeria’s greatest export – fell to its lowest level in more than two decades due to crude theft in the Niger Delta.

His anti-corruption crackdown also ran into criticism and failed to yield high-profile convictions.

Rights groups said Buhari never let go of his autocratic tendencies. In a major flashpoint, unarmed demonstrators protesting against police brutality were gunned down in 2020. Nationwide street violence followed, marking some of the most widespread civil unrest since military rule ended in 1999.

KIDNAP PLOT

Born on December 17, 1942, in Daura, Katsina State, Buhari enrolled in the army at 19. He would eventually rise to the rank of major-general.

He seized power in 1983 as a military ruler, promising to revitalise a mismanaged country. He took a tough line on everything from the conditions sought by the International Monetary Fund to unruliness in bus queues.

In 1984, his administration attempted to kidnap a former minister and vocal critic living in Britain. The plot failed when London airport officials opened the crate containing the abducted politician.

His first stint in power was short-lived. He was removed after only 18 months by another military officer, Ibrahim Babangida.

Buhari spent much of the following 30 years in fringe political parties and trying to run for president until his eventual victory over Jonathan in 2015.

Buhari said he aimed to improve the lives of Nigerians through social welfare programmes, the construction of train lines, roads, dams, airports and power infrastructure.

The infrastructure projects laid the foundation for a strong Nigerian economy, he said.

(With inputs from Reuters)

July 14, 2025
MIL-OSI New Zealand: The beginning of a new era for EIT

Source: Eastern Institute of Technology

17 seconds ago

Today the Minister for Vocational Education announced that EIT is one of the Polytechnics which will be standing up as independent institution from January 2026. This is great news for the Hawke’s Bay and Tairāwhiti regions as EIT will have the autonomy once again to make decisions that are best for ākonga and the diverse communities we serve.

For the past three years, EIT has been a business division of Te Pūkenga, which was an amalgamation of 16 Polytechnics and 9 industry training organisations.

This year, EIT proudly celebrates 50 years of providing education and training to the community. What was originally the Hawke’s Bay Community College first opened its doors in 1975. EIT consolidated itself as the preeminent educational provider on the East Coast when it merged with Tairāwhiti Polytechnic in Gisborne in 2011. EIT has thrived over the last 50 years, now offering more than 160 postgraduate, degree, diploma and certificate-level programmes.

Glen Harkness, Acting Operations Lead for EIT, is thrilled by the announcement

“We are focused on ensuring we are an institution that is financially viable, academically rigorous, founded on strong and enduring industry engagement and community connections within our region. We will do this by making sure our EIT values are at the heart of what we do. This is to ensure we are fit for purpose in a modern, digital age where our ākonga learn in different ways and have expectations around what we deliver and how we do this. I want to acknowledge our kaimahi who have been through so much change over the past few years and have stuck at it due to their commitment and passion for our ākonga and communities,” he said.

“We are currently going through a consultation process with kaimahi (staff) to ensure that we are financially viable and can have a long, bright future as an independent organisation. This may mean some roles are disestablished in the process; however, we are still going through feedback, and no decisions have yet been made”, notes Glen.

“Nothing changes in terms of us continuing to provide quality education and training to our communities. We are looking forward to engaging even more closely with Iwi, Industry, Employers, Schools and other partners as we look towards a bright future as an institution that supports our regions with their workforce needs.”

Hastings mayor Sandra Hazlehurst welcomed the announcement, after what has been an incredibly difficult few years for the institution.

“Our region’s leaders have met with the Minister to highlight the importance of EIT to our region. As our only tertiary provider, it has had a strong, functioning model with good governance, and the Te Pūkenga reform process has been very challenging.

“It’s extremely important for our region to have a local provider that gives our people accessible and affordable training opportunities, saving them the costs involved with studying outside the region, while at the same time helping develop a skilled workforce that meets the needs of multiple sectors in our community.

“We look forward to EIT having further opportunities to build on its local leadership in our region.”

Doug Jones, Trust Tairāwhiti Chief Executive, welcomed the announcement.

“It’s positive news that the Government has backed EIT to operate independently and continue delivering quality education and training opportunities,” he said.

“As the regional Economic Development Agency, Trust Tairāwhiti understands the importance of EIT to our region and people in supporting workforce development and addressing future skills challenges. The local institute is also incredibly valuable to our young people, enabling them to stay in the region while completing tertiary training.”

Karla Lee, Hawke’s Bay Chamber of Commerce CEO, said the decision builds on EIT’s strong regional track record.

“EIT has long played a key role in developing a skilled workforce for our region. Returning to local governance strengthens that connection and gives EIT even more flexibility to work alongside businesses, respond to sector needs, and support economic growth across Hawke’s Bay and Tairāwhiti.”

MIL OSI New Zealand News –

July 14, 2025
MIL-OSI: INVL Baltic Sea Growth Fund has completed the acquisition of the Pehart Group in Romania

Source: GlobeNewswire (MIL-OSI)

INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has completed the investment in Pehart Group, a leading producer of household and industrial paper products in Romania. The consortium of International Finance Corporation (IFC), Banca Transilvania and ING Bank Romania provided an over EUR 150 million financing package with a significant sustainable linked component to fund the transaction and further development of Pehart Group.

The transaction with Abris Capital Partners, the independent private equity fund that previously held Pehart Group, was completed on 11^th July.

Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, said: “We are excited to back Pehart Group management team in bringing the company to the next level and we will support significant investments into expansion of Pehart’s manufacturing capacities and add-on acquisitions in the region strengthening Pehart Group’s market leadership and driving its next phase of growth.”

Gabriel Stanciu, CEO Pehart Group, commented: ”With the completion of the transaction with INVL Baltic Sea Growth Fund, we are honoured to join the leading private equity fund in the Baltics and benefit from its vision and expertise. We see this partnership as an opportunity to accelerate our development plans and strengthen Pehart Group’s position as a regional leader in the paper products industry. We will continue to invest in cutting edge technologies, diversify our product portfolio and expand our presence in international markets. We thank our previous partners, Abris Capital Partners, for their support in achieving our growth objectives in the past years. We look confidently to the future and are ready to capitalize on new opportunities together with INVL Baltic Sea Growth Fund.”

“The closing of this transaction is the culmination of a successful partnership with Pehart Group and its management team, whom we thank for the excellent collaboration over the past years. Together, we have succeeded in transforming Pehart into a strong regional player. We are proud of the progress of the company and the values built over this time and are confident that Pehart will continue to grow at an accelerated pace alongside its new partner. This transaction stands for Abris’ commitment to supporting high-potential businesses and ambitious management teams that can deliver sustainable performance in strategic sectors for the Central and Eastern European economy”, said Adrian Stănculescu, Partner and Head of Romania at Abris Capital Partners.

Equity for the deal was provided by the INVL Baltic Sea Growth Fund and some of its investors co-investing via INVL BSGF Co-Invest Fund II.

International Finance Corporation (IFC), a member of the World Bank Group, has led syndication of overt EUR 150 million financing package for Pehart Group.

“This investment underscores IFC’s commitment to fostering sustainable economic growth while addressing Romania’s energy challenges,” said Marcelo Castellanos, IFC`s Senior Country Manager for Southeastern Europe. “By supporting Pehart, we are advancing the country’s green transition, promoting job creation in underserved regions, and demonstrating the key role of private capital in achieving climate goals.”

“This partnership reflects our ongoing commitment to support our clients’ strategic plans and to provide smart financial solutions, tailored to their needs in a strategic sector. Thus, we are proud to support Pehart in their plan for sustainable growth and to consolidate their position as a leading player on the regional market”, said Cosmin Călin, Senior Executive Director of Large Corporate Clients, Structured Finance and Factoring Banca Transilvania.

“ING has a long partnership with Abris in Romania, including Pehart. We are proud to continue supporting a local business in growing further and pursuing regional ambitions, as we are a solid supporter for the expansion of the Romanian economy. We thank Abris and Pehart for the partnership built along these years and wish many successes to Invalda INVL Group and Pehart going forward” said Raluca Tintoiu, Head of Wholesale Banking and deputy CEO at ING Romania.

Deimantė Korsakaitė, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund, commented: “Finalizing the acquisition of Pehart Group marks a key milestone for the INVL Baltic Sea Growth Fund, completing a value-driven portfolio of ten companies across the Baltics, Poland and Romania, with one already successfully exited. With the launch of its successor INVL Private Equity Fund II earlier this year, which surpassed the target and reached EUR 305 million at first close, we are well-positioned to continue our investment strategy and supporting ambitious businesses across the Baltics, CEE region and the broader EU.”

With a 187-year tradition, Pehart Group is one of the largest paper manufacturers in Southeast Europe with a portfolio ranging from toilet paper, paper towels, napkins, and other hygiene paper products to jumbo rolls, used in the converting process into paper products for household and industrial use. In 2024, Pehart Group succeeded in strengthening its leading position on the market through production efficiency and strategic investments. The focus on diversifying the product portfolio led to new launches, such as the SOVIO brand, targeting the Away-from-Home sector, as well as expansion into international markets. In 2024, the Pehart Group generated revenues of EUR 165 million and employed more than 550 people across its companies.

Pehart Group is defined by continuous evolution, efficiency, respect for the planet’s resources and for the people who build its story every day. It continuously optimizes its products and services by creating a sustainable and equitable environment for a renewable future. Pufina, one of the most popular tissue paper brands in Romania, Alint, Altessa and SOVIO, the Away-from-Home products division, are part of the Pehart Group portfolio.

About the INVL Baltic Sea Growth Fund

With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank, and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia,  to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by the leading asset management group in the Baltics Invalda INVL group, which companies manage or have under supervision over EUR 1.9 billion of assets.

Contact person for further information:
Vytautas Plunksnis, Head of Private Equity at INVL Asset Management,
Vytautas.Plunksnis@invl.com

The MIL Network –

July 14, 2025
MIL-OSI: INVL Baltic Sea Growth Fund has completed the acquisition of the Pehart Group in Romania

Source: GlobeNewswire (MIL-OSI)

INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has completed the investment in Pehart Group, a leading producer of household and industrial paper products in Romania. The consortium of International Finance Corporation (IFC), Banca Transilvania and ING Bank Romania provided an over EUR 150 million financing package with a significant sustainable linked component to fund the transaction and further development of Pehart Group.

The transaction with Abris Capital Partners, the independent private equity fund that previously held Pehart Group, was completed on 11^th July.

Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, said: “We are excited to back Pehart Group management team in bringing the company to the next level and we will support significant investments into expansion of Pehart’s manufacturing capacities and add-on acquisitions in the region strengthening Pehart Group’s market leadership and driving its next phase of growth.”

Gabriel Stanciu, CEO Pehart Group, commented: ”With the completion of the transaction with INVL Baltic Sea Growth Fund, we are honoured to join the leading private equity fund in the Baltics and benefit from its vision and expertise. We see this partnership as an opportunity to accelerate our development plans and strengthen Pehart Group’s position as a regional leader in the paper products industry. We will continue to invest in cutting edge technologies, diversify our product portfolio and expand our presence in international markets. We thank our previous partners, Abris Capital Partners, for their support in achieving our growth objectives in the past years. We look confidently to the future and are ready to capitalize on new opportunities together with INVL Baltic Sea Growth Fund.”

“The closing of this transaction is the culmination of a successful partnership with Pehart Group and its management team, whom we thank for the excellent collaboration over the past years. Together, we have succeeded in transforming Pehart into a strong regional player. We are proud of the progress of the company and the values built over this time and are confident that Pehart will continue to grow at an accelerated pace alongside its new partner. This transaction stands for Abris’ commitment to supporting high-potential businesses and ambitious management teams that can deliver sustainable performance in strategic sectors for the Central and Eastern European economy”, said Adrian Stănculescu, Partner and Head of Romania at Abris Capital Partners.

Equity for the deal was provided by the INVL Baltic Sea Growth Fund and some of its investors co-investing via INVL BSGF Co-Invest Fund II.

International Finance Corporation (IFC), a member of the World Bank Group, has led syndication of overt EUR 150 million financing package for Pehart Group.

“This investment underscores IFC’s commitment to fostering sustainable economic growth while addressing Romania’s energy challenges,” said Marcelo Castellanos, IFC`s Senior Country Manager for Southeastern Europe. “By supporting Pehart, we are advancing the country’s green transition, promoting job creation in underserved regions, and demonstrating the key role of private capital in achieving climate goals.”

“This partnership reflects our ongoing commitment to support our clients’ strategic plans and to provide smart financial solutions, tailored to their needs in a strategic sector. Thus, we are proud to support Pehart in their plan for sustainable growth and to consolidate their position as a leading player on the regional market”, said Cosmin Călin, Senior Executive Director of Large Corporate Clients, Structured Finance and Factoring Banca Transilvania.

“ING has a long partnership with Abris in Romania, including Pehart. We are proud to continue supporting a local business in growing further and pursuing regional ambitions, as we are a solid supporter for the expansion of the Romanian economy. We thank Abris and Pehart for the partnership built along these years and wish many successes to Invalda INVL Group and Pehart going forward” said Raluca Tintoiu, Head of Wholesale Banking and deputy CEO at ING Romania.

Deimantė Korsakaitė, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund, commented: “Finalizing the acquisition of Pehart Group marks a key milestone for the INVL Baltic Sea Growth Fund, completing a value-driven portfolio of ten companies across the Baltics, Poland and Romania, with one already successfully exited. With the launch of its successor INVL Private Equity Fund II earlier this year, which surpassed the target and reached EUR 305 million at first close, we are well-positioned to continue our investment strategy and supporting ambitious businesses across the Baltics, CEE region and the broader EU.”

With a 187-year tradition, Pehart Group is one of the largest paper manufacturers in Southeast Europe with a portfolio ranging from toilet paper, paper towels, napkins, and other hygiene paper products to jumbo rolls, used in the converting process into paper products for household and industrial use. In 2024, Pehart Group succeeded in strengthening its leading position on the market through production efficiency and strategic investments. The focus on diversifying the product portfolio led to new launches, such as the SOVIO brand, targeting the Away-from-Home sector, as well as expansion into international markets. In 2024, the Pehart Group generated revenues of EUR 165 million and employed more than 550 people across its companies.

Pehart Group is defined by continuous evolution, efficiency, respect for the planet’s resources and for the people who build its story every day. It continuously optimizes its products and services by creating a sustainable and equitable environment for a renewable future. Pufina, one of the most popular tissue paper brands in Romania, Alint, Altessa and SOVIO, the Away-from-Home products division, are part of the Pehart Group portfolio.

About the INVL Baltic Sea Growth Fund

With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank, and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia,  to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by the leading asset management group in the Baltics Invalda INVL group, which companies manage or have under supervision over EUR 1.9 billion of assets.

Contact person for further information:
Vytautas Plunksnis, Head of Private Equity at INVL Asset Management,
Vytautas.Plunksnis@invl.com

The MIL Network –

July 14, 2025
EU ready to hit US with 21-billion-euro tariff list, Italy foreign minister says

Source: Government of India

Source: Government of India (4)

The European Union has already prepared a list of tariffs worth 21 billion euros ($24.52 billion) on U.S. goods if the two countries fail to reach a trade deal, Italy’s Foreign Minister Antonio Tajani said in a newspaper interview on Monday.

President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the EU starting on Aug. 1, after weeks of negotiations with major U.S. trading partners failed to reach a comprehensive deal.

Tajani also told daily Il Messaggero that to help the euro zone economy the European Central Bank should consider a new “quantitative easing” bond-buying-programme, and more interest rate cuts.

The European Union said on Sunday it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement.

Tajani said the 21-billion-euro package of tariffs the EU has already prepared could be followed by a second set if a deal with the U.S proves impossible. He added, however, that he was confident that progress could be made in negotiations.

“Tariffs hurt every one, starting with the United States,” he said. “If stock markets fall that puts at risk the pensions and the savings of the Americans.”

He said the goal should be “zero tariffs” and an open market among Canada, the United States, Mexico and Europe.

German Chancellor Friedrich Merz said on Sunday he would work intensively with French President Emmanuel Macron and European Commission President Ursula von der Leyen to resolve the escalating trade war with the United States.

(Reuters)

July 14, 2025
EU ready to hit US with 21-billion-euro tariff list, Italy foreign minister says

Source: Government of India

Source: Government of India (4)

The European Union has already prepared a list of tariffs worth 21 billion euros ($24.52 billion) on U.S. goods if the two countries fail to reach a trade deal, Italy’s Foreign Minister Antonio Tajani said in a newspaper interview on Monday.

President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the EU starting on Aug. 1, after weeks of negotiations with major U.S. trading partners failed to reach a comprehensive deal.

Tajani also told daily Il Messaggero that to help the euro zone economy the European Central Bank should consider a new “quantitative easing” bond-buying-programme, and more interest rate cuts.

The European Union said on Sunday it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement.

Tajani said the 21-billion-euro package of tariffs the EU has already prepared could be followed by a second set if a deal with the U.S proves impossible. He added, however, that he was confident that progress could be made in negotiations.

“Tariffs hurt every one, starting with the United States,” he said. “If stock markets fall that puts at risk the pensions and the savings of the Americans.”

He said the goal should be “zero tariffs” and an open market among Canada, the United States, Mexico and Europe.

German Chancellor Friedrich Merz said on Sunday he would work intensively with French President Emmanuel Macron and European Commission President Ursula von der Leyen to resolve the escalating trade war with the United States.

(Reuters)

July 14, 2025
Sensex, Nifty open lower amid weak earnings, US trade policy Jitters

Source: Government of India

Source: Government of India (4)

Sensex, Nifty open lower amid weak earnings, US trade policy Jitters

Indian benchmark indices opened in the red on Monday as investor sentiment remained subdued following disappointing corporate earnings and renewed global uncertainty over US trade policy.

The Sensex declined 212 points, or 0.24 percent, to 82,301, while the Nifty dropped 49 points, or 0.20 percent, to 25,104 as of 9:19 am.

Some resilience was seen in the broader market, with the Nifty Midcap 100 rising 94 points, or 0.16 percent, to 58,736, and the Nifty Smallcap 100 advancing 25 points, or 0.14 percent, to 18,788.

Analysts attributed the Nifty’s weakness primarily to declines in IT stocks, which were weighed down by lackluster earnings.

“This weakness may persist, particularly since foreign institutional investors were heavy sellers in the cash market last Friday,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

He added that the market has already priced in the expected net interest margin (NIM) compression for banking stocks in the upcoming Q1 earnings. “Therefore, any dip in banking stocks may present a buying opportunity,” he said.

Sectorally, auto, PSU banks, metals, real estate, and energy were trading in positive territory. In contrast, IT, financial services, pharmaceuticals, FMCG, media, and infrastructure sectors were under pressure.

Top gainers on the Sensex included Trent, Power Grid, Sun Pharma, Titan, NTPC, Maruti Suzuki, Axis Bank, M&M, SBI, and Tata Steel.

On the flip side, Bajaj Finance, Infosys, Bajaj Finserv, Tech Mahindra, Bharti Airtel, L&T, HCL Tech, Tata Motors, Kotak Mahindra Bank, and HUL were among the biggest losers.

Most Asia-Pacific markets traded mixed as investors digested renewed trade tensions between the US and its trading partners.

US President Donald Trump’s announcement of a 30 percent tariff on imports from the European Union and Mexico, effective August 1, rattled global markets. In response, the EU deferred its planned 30 percent retaliatory tariffs to allow room for further negotiations.

(With inputs from IANS)

July 14, 2025
Trump demands more concessions as EU holds off on US tariff countermeasures

Source: Government of India

Source: Government of India (4)

The European Union said on Sunday it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement as U.S. President Donald Trump’s administration demanded more concessions from trading partners.

Trump said on Saturday he would impose a 30% tariff on most imports from the EU and Mexico from August 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework deals that could lower the threatened tariff rate.

White House Economic Adviser Kevin Hassett said on Sunday that countries’ trade deal offers so far have not satisfied Trump and “the tariffs are real” without improvements.

“The president thinks that deals need to be better,” Hassett told ABC’s This Week program. “And to basically put a line in the sand, he sent these letters out to folks, and we’ll see how it works out.”

Ursula von der Leyen, head of the EU’s executive Commission which handles trade policy for the 27 member states, said the bloc would maintain its two-track approach: keep talking and prepare retaliatory measures.

“We have always been very clear that we prefer a negotiated solution. This remains the case, and we will use the time that we have now,” von der Leyen told a press conference, adding that the bloc would extend its halt on countermeasures until August.

Von der Leyen’s decision to resist immediate retaliatory measures points to the European Commission’s desire to avoid a spiralling tit-for-tat escalation in the trade war while there remains a chance of negotiating an improved outcome.

German Chancellor Friedrich Merz on Sunday said he was “really committed” to finding a trade solution with the U.S., telling German public broadcaster ARD that he will work intensively on this with von der Leyen and French President Emmanuel Macron over the next two and a half weeks.

Asked about the impact of a 30% U.S. tariff on Germany, Merz said: “If that were to happen, we would have to postpone large parts of our economic policy efforts because it would interfere with everything and hit the German export industry to the core.”

TEST OF UNITY

The latest salvo from Trump and the question of how to respond may test the unity of member states, with France appearing to take a tougher line than Germany, the bloc’s industrial powerhouse whose economy leans heavily on exports.

Macron said the Commission needed more than ever to “assert the Union’s determination to defend European interests resolutely”, and that retaliation might need to include so-called anti-coercion instruments.

German Finance Minister Lars Klingbeil said on Sunday the EU should be ready to take firm action if talks failed.

“If a fair negotiated solution does not succeed, then we must take decisive countermeasures to protect jobs and companies in Europe,” Finance Minister Lars Klingbeil, also vice chancellor in the ruling coalition, told Sueddeutsche Zeitung newspaper.

While the EU has held back from retaliating against the U.S. in the months since Trump hit the bloc with tariffs, it has readied two packages that could hit a combined 93 billion euros of U.S. goods.

A first package, in response to U.S. levies of 50% on imported steel and aluminium that would hit 21 billion euros in U.S. goods, was suspended in April for 90 days to allow time for negotiations. The suspension had been due to expire on Monday before the extension was announced.

A second package in retaliation against Trump’s “reciprocal” tariffs has been in the works since May and was set to target 72 billion euros of U.S. goods. These measures have not been made public and the final list requires approval by member states.

ANTI-COERCION INSTRUMENT

Von der Leyen said on Sunday that the use of the EU’s Anti-Coercion Instrument was not yet on the table.

The instrument allows the bloc to retaliate against third countries that put economic pressure on EU members to change their policies.

“The (anti-coercion) instrument is created for extraordinary situations, we are not there yet,” she said.

Possible retaliatory steps could include restricting EU market access to goods and services, and other economic measures related to areas including foreign direct investment, financial markets and export controls.

In a sign of the EU’s desire to strike deals with more trading partners at a time of deepening uncertainty in trans-Atlantic relations, von der Leyen said a political agreement had been reached to advance an EU-Indonesia trade deal.

France’s cheese producers warned of the damaging consequences of a 30% tariff for the local dairy industry, which exports nearly half its produce, including to the United States.

“It’s a new environment we will have to get used to – I don’t think this is temporary,” Francois Xavier Huard, CEO of dairy association FNIL, told Reuters.

(Reuters)

July 14, 2025
France’s Macron announces plan to accelerate military spending

Source: Government of India

Source: Government of India (4)

President Emmanuel Macron on Sunday announced a plan to push forward France’s defence spending, pledging to double the military budget by 2027 – three years earlier than originally planned – in response to a complex geopolitical moment.

France had aimed to double its defence budget from 2017 levels by 2030. However, Macron pledged to reach the target by 2027. A military budget that stood at 32 billion euros ($37.40 billion) in 2017 will rise to 64 billion euros by 2027, with an additional 3.5 billion euros allocated for next year and another 3 billion euros in 2027.

He said the accelerated spending, which comes as France is struggling to make 40 billion euros in savings in its 2026 budget, would be paid for by increased economic activity.

“Our military independence is inseparable from our financial independence,” he said. “This will be financed through more activity and more production.”

He said Prime Minister Francois Bayrou would provide more details in an address on his plans for the 2026 budget on Tuesday. Bayrou is facing an uphill battle to steer billions of euros worth of savings through a bitterly divided parliament, as France strives to lower its budget deficit to keep EU bean-counters and foreign investors at bay.

(Reuters)

July 14, 2025
MIL-OSI New Zealand: Making NZ top destination for international students

Source: New Zealand Government

The Government’s going for growth in international education, releasing its plan to double the sector’s economic contribution to $7.2 billion by 2034.
“International education is one of our largest exports, injecting $3.6 billion into our economy in 2024. It also provides opportunities for research, strengthening trade and people-to-people connections, which are important to drive investment, productivity and innovation in New Zealand.
“On average in 2024, an international student spent $45,000 across the year. That means more visits to our cafes and restaurants, more people visiting our iconic attractions and ultimately more jobs being created.
“With international student enrolments steadily increasing since 2023, we want to supercharge that growth track and make New Zealand the destination of choice for international students,” says Education Minister Erica Stanford.
To support this, from November the Government will:

Increase in-study work rights from 20 to 25 hours per week for eligible student visa holders.
Extend eligibility for in-study work rights to all tertiary students in approved exchange or Study Abroad programmes, including programmes one-semester long.

In addition, the following will be investigated:

Introduce a short-duration work visa of up to six months to provide some international graduates who do not qualify for post-study work rights, allowing time to seek employment in their field of study under the Accredited Employer Work Visa (AEWV) pathway.
Updates to make it easier for students to apply for multi-year visas.

The International Education Going for Growth Plan sets out short, medium and long-term actions for agencies to boost New Zealand’s presence in overseas markets, attract talented students, build sector capacity and capability, and support the university sector through system improvements.
Its objectives are:

raise awareness of New Zealand as a study destination from 38% in 2024, to 42% in 2027 and 44% by 2034.
grow student enrolments from 83,700 in 2024 to 105,000 in 2027 and 119,000 by 2034.
increase the proportion of prospective students rating NZ among their top 3 choices of study destination from 18% in 2024 to 20% in 2027 and 22% in 2034.

“In the short term, Education New Zealand will focus its promotional efforts on markets with the highest potential for growth. Across all markets, promotional activities will aim to elevate awareness of New Zealand as a premier study destination that is a safe and welcoming place to live and learn.
“To achieve our ambitious target, we’re taking a considered and strategic approach. It’s important to strike the right balance between increasing student numbers, maintaining the quality of education, and managing broader impacts on New Zealanders. Our plan will deliver that,” says Ms Stanford.

MIL OSI New Zealand News –

July 14, 2025
MIL-OSI Asia-Pac: 3 sports events awarded ‘M’ Mark

Source: Hong Kong Information Services

The Major Sports Events Committee today said it awarded “M” Mark status to the FIBA 3×3 World Tour – Hong Kong 2025 as well as Liverpool FC vs AC Milan – The Standard Chartered Trophy and Arsenal vs Tottenham Hotspur – The Herbalgy Trophy of Hong Kong Football Festival.

The FIBA 3×3 World Tour – Hong Kong 2025 will be held on July 19 and 20, while the two football matches will take place on July 26 and 31 respectively.

Committee Chairman Wilfred Ng noted that the FIBA 3×3 World Tour will gather top 3×3 basketball teams from around the world, providing spectators with a thrilling viewing experience.

The highlights of July will certainly be the two friendly matches at Kai Tak Stadium, featuring Liverpool FC versus AC Milan and Arsenal versus Tottenham Hotspur, he said, adding that these exhibition matches will bring fans a world-class football experience.

“These three sporting events will not only bring high-level competitions to the spectators but also stimulate the local economy, enhancing Hong Kong’s international image and strengthening its status as an events capital.”

MIL OSI Asia Pacific News –

July 14, 2025
MIL-OSI Australia: Major milestone in redevelopment of former Quinns Rocks caravan park site

Source: South Australia Police

The City has marked the official handover of Lot 211 Quinns Road, Mindarie for the development of Dunes Beach Resort, an ecotourism style resort with an accommodation, café and event space.

Mayor Linda Aitken said she was pleased to mark the major milestone and officially hand the site over to Eco Tourism Pty Ltd.

“The development of the Dunes Beach Resort will generate employment opportunities for our residents, boost the local economy and assist with the development of our City as a sustainable tourism destination,” she said.

“It will also provide residents with access to a significant area of lawn space, a sit-down café and kiosk area, public bike racks, improved beach access and picnic tables.

“This site is incredibly important to our residents and I can’t wait to see this project progress as the site is developed into a space that will benefit both the Quinns community and the wider City.

“I look forward to visiting Dunes Beach Resort in the not-too-distant future.”

Director Eco Tourism Pty Ltd Russell Percival said he was excited to be moving forward with the project and to be building something for both the local community and tourists to enjoy.

“After three and a half years, it is great to see our vision and dream start to evolve and we look forward to providing an amazing resort and facilities for everyone to enjoy,” he said.

“We thank the City of Wanneroo for their help and assistance along the way, and we are very excited that the first version of our Australia-wide concept is starting in Perth.”

MIL OSI News –

July 14, 2025
MIL-OSI Russia: E. Macron announced an increase in France’s defense budget by 2027

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

PARIS, July 14 (Xinhua) — France will spend 6.5 billion euros (7.6 billion U.S. dollars) on its military over the next two years to bring its annual defense spending to 64 billion euros by 2027, French President Emmanuel Macron said in his annual address to the country’s armed forces on Sunday.

E. Macron noted that military spending “is and will remain a source of wealth for our GDP, our economy and our regions.”

The French president also announced plans to explore the possibility of creating a new national service initiative. –0–

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

.

MIL OSI Russia News –

July 14, 2025
MIL-OSI New Zealand: Regional governance will return to ten polytechnics

Source: New Zealand Government

Ten polytechnics will be re-established from 1 January 2026, restoring regional decision-making that supports strong communities and economic growth, Vocational Education Minister Penny Simmonds says.
“This is a major milestone in building a vocational education system that’s locally led, regionally responsive, and future focused. We’ve listened to extensive industry feedback and I’m confident our plan will set the sector up for long-term economic and learning success.
“We campaigned vigorously against Labour’s reforms which saw all New Zealand polytechnics merged into one unwieldy and uneconomic central institution, Te Pūkenga, taking away the ability of regions to respond to local training and employer needs.
“Labour dismantled regionally-led vocational education – and we are restoring it,” Ms Simmonds says.
The ten polytechnics returning to regional governance are:

Ara Institute of Canterbury (Ara)
Eastern Institute of Technology (EIT)
Nelson Marlborough Institute of Technology (NMIT)
Southern Institute of Technology (SIT)
Toi Ohomai Institute of Technology
Waikato Institute of Technology (Wintec)
Unitec Institute of Technology (Unitec) and Manukau Institute of Technology (MIT), which will stand up as a single entity
Otago Polytechnic
Universal College of Learning (UCOL)
The Open Polytechnic of New Zealand

The Open Polytechnic of New Zealand will be the anchor polytechnic of the new federation, which includes Otago Polytechnic and UCOL. The federation will coordinate programmes and other services, including shared academic boards. It will provide a low overhead way for polytechnics to create more efficient business models than they could on their own through the use of on online learning resources and programmes.
Four other polytechnics — NorthTec, Western Institute of Technology at Taranaki (WITT), Whitireia Community Polytechnic and Wellington Institute of Technology (Whitireia and WelTec), and Tai Poutini Polytechnic (TPP) — will remain within Te Pūkenga for now as they work toward viability, with decisions due in the first half of 2026.
These changes are part of legislation before Parliament. The Education and Workforce Select Committee is reviewing the Bill, which is expected to pass in October. The ten new polytechnics will begin operating from 1 January 2026.
“I want to thank everyone who made submissions. Your feedback helped shape a better way forward,” Ms Simmonds says.
Te Pūkenga will act as a transitional entity for up to a year to manage unallocated programmes and support a smooth handover. The legislation also allows mergers or closures if any polytechnic cannot achieve viability.
“With more than 250,000 students in the vocational education system each year, these changes offer greater flexibility, financial sustainability, and ensure training remains relevant to employment needs,” Ms Simmonds says.
“Industry will have a stronger role, communities will regain local control, and polytechnics will be financially sustainable.
“We’re rebuilding our incredibly important vocational education system so that it delivers — for students, for employers, and for the future of New Zealand.”

MIL OSI New Zealand News –

July 14, 2025
MIL-OSI United Kingdom: 5,000 jobs secured as construction starts on Port Talbot green steel project
Source: United Kingdom – Government Statements

Press release

5,000 jobs secured as construction starts on Port Talbot green steel project

5,000 steel jobs have been secured following the start of construction on Tata Steel’s Port Talbot electric arc furnace project today.
Business Secretary Jonathan Reynolds and Welsh Secretary Jo Stevens join Tata Group Chairman to break ground on construction of electric arc furnace that will secure thousands of jobs.

Latest good news shows how UK’s modern Industrial Strategy is backing Welsh industry, following landmark energy support package slashing energy costs for Tata Steel and other UK steel firms.

Industry Minister Sarah Jones to chair meeting of Steel Council together with industry leaders at 7Steel this morning to work towards finalising UK’s Steel Strategy.

5,000 jobs have been secured following the start of construction on Tata Steel’s electric arc furnace (EAF) at Port Talbot steelworks today (14 July).

Business Secretary Jonathan Reynolds will join Tata Group Chairman N. Chandrasekaran, Wales Secretary Jo Stevens and other government and company representatives to break ground on the project and start construction later today.

The construction milestone, made possible by a £500 million UK Government grant provided as part of the improved deal for Port Talbot’s transition which the Government agreed after only 10 weeks in office, is a major win for Welsh steelmaking in the run-up to the launch of government’s Steel Strategy this year.

This morning, Industry Minister Sarah Jones will chair a meeting of the Steel Council at 7Steel in Cardiff to work towards finalising the upcoming Steel Strategy – backed by up to £2.5 billion of investment – and reflect on a series of recent wins for the industry with senior leaders from across the sector, including British Steel and UK Steel.

This includes slashing energy costs for steel producers via new measures announced in the UK’s modern Industrial Strategy, strengthening the UK’s steel safeguard measures to protect the industry from spikes of foreign steel imports and bolstering the UK’s procurement rules to ensure UK-made steel is considered wherever possible for use on public construction projects.

The Government is also backing the steel sector by working closely with the US to secure the removal of 25 percent tariffs on steel and aluminium, while the UK remains the only country in the world not to pay a 50 percent tariff rate.

Business Secretary Jonathan Reynolds said:

This is our Industrial Strategy in action and is great news for Welsh steelmaking backing this crucial Welsh industry, which will give certainty to local communities and thousands of local jobs for years to come.

This government is committed to a bright future for our steel industry, which is why we provided £500 million of funding to make this project possible. Our modern Industrial Strategy has set out how we’ll back the sector even further, including by slashing energy costs for firms like Tata Steel to level the playing field, as part of our Plan for Change.

The start of construction on Tata Steel’s EAF marks a significant step forward in Port Talbot’s transition to greener steel production, and is expected to reduce the site’s carbon emissions by around 90 percent.

The success of the project – and Tata Group’s continued investment in British industry – is testament to the UK’s strong and valued relationship with India, following the trade deal the Government agreed with India in May which will add billions to the UK economy going forward.

During the groundbreaking event to mark the start of construction, the Business Secretary will tour the site of the new EAF, meet with senior management at Tata Steel and take part in a demonstration with a virtual reality headset to see how the new EAF will look when operational.

Tata Group Chairman Mr Chandrasekaran said:

This is a proud day for Tata Group, Tata Steel and for the UK. Today’s groundbreaking marks not just the beginning of a new Electric Arc Furnace, but a new era for sustainable manufacturing in Britain. At Port Talbot, we are building the foundations of a cleaner, greener future, supporting jobs, driving innovation, and demonstrating our commitment to responsible industry leadership.

This project is also part of Tata Group’s wider investment in the UK, across steel, automotive, and technology among others, which reflects our deep and enduring partnership with this country.

Secretary of State for Wales Jo Stevens said:

The UK Government acted decisively to ensure that steelmaking in Port Talbot will continue for generations to come, backing Tata Steel with £500 million to secure its future in the town, along with £80 million to support workers and the wider community. Our Steel Strategy will also deliver up to £2.5 billion of investment to rebuild the UK industry, maintain jobs and drive growth.

The construction of Tata’ s new furnace realises the promise we made to the community, while the development of floating offshore wind, plans for a Celtic Freeport and millions more for local regeneration all mean that Port Talbot has a bright future.

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Published 14 July 2025
MIL OSI United Kingdom –
July 14, 2025

MIL-OSI Banking: Money Market Operations as on July 11, 2025

Source: Reserve Bank of India


(Amount in ₹ crore, Rate in Per cent)

	Volume (One Leg)	Weighted Average Rate	Range
A. Overnight Segment (I+II+III+IV)	6,16,031.48	5.34	3.00-6.65
I. Call Money	15,690.99	5.45	4.75-5.55
II. Triparty Repo	4,01,112.75	5.30	5.00-5.49
III. Market Repo	1,97,033.19	5.39	3.00-5.60
IV. Repo in Corporate Bond	2,194.55	5.61	5.50-6.65
B. Term Segment
I. Notice Money**	476.50	5.50	5.10-5.55
II. Term Money^@@	893.00	–	5.35-5.80
III. Triparty Repo	1,075.00	5.30	5.30-5.30
IV. Market Repo	0.00	–	–
V. Repo in Corporate Bond	0.00	–	–

	Auction Date	Tenor (Days)	Maturity Date	Amount	Current Rate / Cut off Rate
C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
I. Today’s Operations
1. Fixed Rate
2. Variable Rate^&
(I) Main Operation
(a) Repo
(b) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo	Fri, 11/07/2025	7	Fri, 18/07/2025	1,51,633.00	5.49
3. MSF^#	Fri, 11/07/2025	1	Sat, 12/07/2025	180.00	5.75
	Fri, 11/07/2025	2	Sun, 13/07/2025	0.00	5.75
	Fri, 11/07/2025	3	Mon, 14/07/2025	1,043.00	5.75
4. SDF^Δ#	Fri, 11/07/2025	1	Sat, 12/07/2025	1,69,978.00	5.25
	Fri, 11/07/2025	2	Sun, 13/07/2025	60.00	5.25
	Fri, 11/07/2025	3	Mon, 14/07/2025	17,053.00	5.25
5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*				-3,37,501.00
II. Outstanding Operations
1. Fixed Rate
2. Variable Rate^&
(I) Main Operation
(a) Repo
(b) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo
3. MSF^#
4. SDF^Δ#
D. Standing Liquidity Facility (SLF) Availed from RBI^$				5,880.78
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*				5,880.78
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*				-3,31,620.22

G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on	July 11, 2025	9,37,276.75
(ii) Average daily cash reserve requirement for the fortnight ending	July 11, 2025	9,52,318.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on^¥	July 11, 2025	0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on	June 27, 2025	5,79,904.00

^@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).

– Not Applicable / No Transaction.

** Relates to uncollateralized transactions of 2 to 14 days tenor.

^@@ Relates to uncollateralized transactions of 15 days to one year tenor.

^$ Includes refinance facilities extended by RBI.

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

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2025-2026/706

MIL OSI Global Banks –

July 14, 2025

MIL-OSI Australia: Interview with Kieran Gilbert, Sunday Agenda, Sky News

Source: Australian Parliamentary Secretary to the Minister for Industry

Kieran Gilbert:

Let’s go live to Devonport, Tasmania. Joining me is the Treasurer, Jim Chalmers. Thanks for your time. The government’s spoken so much about stabilising relations with China. Is this visit about moving beyond that now?

Jim Chalmers:

Good morning, Kieran.

There couldn’t be a more important time to strengthen an economic partnership and relationship which is full of opportunity but not short of complexity either. And so, these meetings between Prime Minister Albanese and President Xi and Premier Li, CEOs and businesses from both sides of the relationship is a really important one.

It recognises that China is a big part of our prosperity. That makes it a big and important obvious focus of our economic diplomacy, and that’s what the Prime Minister’s visit is all about.

Gilbert:

Do you see it, though, as not just stabilising relations anymore? This is about maybe not returning it to the equilibrium we saw during the Howard years, but closer to that than what we’ve seen in recent years?

Chalmers:

Certainly we want to strengthen this relationship. It’s in the interests of our economy, our workers, our businesses, our investors, to strengthen this really important relationship.

I think around a third of our exports go to China. So, it is a really crucial part of our prosperity and a big focus of our diplomacy. That’s why the Prime Minister is there for this trip this week.

We’ve worked really hard to stabilise this relationship. We’ve worked through issues in a calm and consistent way without compromising what’s important to us. We’ve raised issues and complexities when it’s been important that we do that. But overall, our efforts to stabilise the relationship and how to strengthen that relationship in the interests of our people and their economy, there couldn’t be a more important time to do that.

That’s why it’s so good that Prime Minister Albanese is engaging with leaders in China, businesses in China, to try to maximise these opportunities that are so central to the relationship.

Gilbert:

When – you spoke about the economic importance, and it is vital – I was looking through the numbers over the weekend and the amount that iron ore itself to China provides our budget bottom line is massive. It’s actually one‑fifth of our total exports is iron ore, that commodity and that market, China. Is it too risky to have so much relying on that one market and that one commodity?

Chalmers:

Look, it’s a really important part of the trading relationship. No doubt about it. It’s a very good earner for Australia. We’re very supportive of the industry and its efforts to create that prosperity with that trade with China.

But it’s not the only part of the story. As Cameron rightly identified in his cross a moment ago, there are a number of elements to this economic relationship. Whether it be tourism, whether it be mining and resources.

There are a whole range of industries where a more prosperous, a more productive, constructive relationship will bear fruit for a whole range of our industries. Not just mining, as important as that is.

Gilbert:

With tourism, you touched on it, the Prime Minister’s going to be overseeing the launch of that next phase of a big campaign trying to get more tourists here from China. They spend more, apparently than other comparable visitors from other nations. So, obviously lucrative to tourism in the state where you are, Tassie, and beyond. Tell me, do you think that we can get those numbers back to where they were pre‑COVID?

Chalmers:

It’s certainly our objective to make the most out of our wonderful tourism industry.

I’m coming to you from Tasmania today and Tasmania’s tourism industry is world‑class. As is the industry, the tourism industry, right around Australia – my home state of Queensland, every part of our country has a good story to tell the world when it comes to attracting tourists. It’s a very important earner for our economy. It’s a very important employer. And I think it’s a terrific thing that the Prime Minister has made this an important part of the discussions that he is having in China.

We want tourists here, we want them spending money in our economy. We want that to employ more Australians in good, well‑paid jobs. And that’s why it’s a central focus of his trip.

Gilbert:

You’re heading to the G20 in South Africa later this week. How crucial are those multilateral forums, those groups, now, in a very uncertain world, the world of tariffs from the United States and Donald Trump? Do you see it as even more important to try and build the ties in settings like the G20?

Chalmers:

More important than ever. Australia is a big believer in multinational forums and a big beneficiary of the contribution that we can make there. The global economic environment, the uncertainty, the volatility, the unpredictability in the global environment I think will be the primary influence that will shape and constrain the government’s choices in this second term.

We are trying to navigate together a world where conflict and tension and unpredictability and volatility are the norm rather than the exception. And so, we come at this challenge of international engagement in that light.

I’ll be at the G20 speaking with my economic ministerial counterparts in South Africa in the second half of this week. I’ll be having bilateral conversations as well as the multilateral opportunity, but discussions with my counterparts from Indonesia, from Japan, from Canada, the UK and Germany and others. Because we recognise as Australians that when the world is more fragmented, we need more, not less, engagement. And that’s what drives our efforts and motivates our efforts, whether it be at the G20, whether it’s looking for more diverse and reliable markets around the world and around the region, that’s our motivation.

Gilbert:

And so, on that issue of diversifying the markets, I want to pick up on that because it was a focus of the government, certainly a few years ago, when we hit the rocky period with China. Is it still a main focus for the government? I remember, again, the Prime Minister, his big visit initially and the message was all about Indonesia. Is that still on the table?

Chalmers:

Well, first of all, I’ll be meeting with my Indonesian counterpart. I hope to have actually a specific way to announce later in the week that we can advance that really important economic relationship, speaking with my colleague Sri Mulyani.

But more broadly, if you think about the fragmentation in the world, you think about the uncertainty, unpredictability and volatility which defines the times in the global economy. Our strategy is more engagement, more diverse markets, and more resilience in our own economy as well. Those are the principles which drove our response to the tariff announcement out of D.C., but also which drive our trade and investment and foreign policy as well, and you’ll see that in the Prime Minister’s engagement this week.

We believe that more diverse markets are good for Australia. In a world of more fragmentation, we need more engagement and more resilience. That’s why I’m off to the G20 to talk with my counterparts. It’s why the Prime Minister is in China talking to his counterparts, because Australia is a big beneficiary of free and fair and open markets. We’re a big believer in those things and we will advocate that cause wherever and whenever we can.

Gilbert:

And you sort of gave us a little bit of a hint that you’ll be announcing something with the Indonesian counterpart. Can you give us any more of a sneak peek as to what that might be to strengthen ties with Jakarta?

Chalmers:

There’ll be a number of elements to that discussion. Obviously, critical minerals will be part of it, 2‑way trade. But I’m particularly interested in speaking speaking with my counterpart, Sri Mulyani, about the flow of capital between our countries. This has been a difficult challenge to approach over the years, but we think there’s a good opportunity there which could benefit both sides, be of mutual benefit to Australia and Indonesia. I look forward to advancing those discussions with her and ideally, hopefully, making an announcement later in the week.

Gilbert:

Can you understand, if we return our focus now to domestic issues, specifically the decision by the RBA. Can you understand why many mortgage holders, many Australians, were disappointed with that?

Chalmers:

I can, and I made that point on the day. I don’t think it’s especially controversial to point out that the decision which came on Tuesday would have come as a disappointment to millions of Australians who were hoping for more rate relief from the Reserve Bank. And it came as a surprise to most economists and certainly the market which follows these sorts of decisions closely.

But the Governor of the Reserve Bank made it really clear that the decision taken on Tuesday was a matter of timing, not a matter of direction. The direction of travel when it comes to inflation and interest rates is already quite clear. The Governor made that even clearer on Tuesday. We’ve already had 2 interest rate cuts in the last 5 months. That’s because of the progress we’ve made together on inflation. That’s already providing some relief to millions of people with a mortgage.

But of course, people are looking for more rate relief where they can get it. The Governor of the Reserve Bank has made it clear that that will come at some point, but that she and her board would like more information before they make that decision to cut rates for the third time this year.

Gilbert:

So, do you think mortgage holders should be reassured by that message that we’re, as she put it, on an easing path?

Chalmers:

I think people will watch closely what the Governor of the Reserve Bank says. I think it’s a good thing that the Governor runs through the reasons for each decision, makes herself available. I’m very supportive of that, very grateful to her for doing that. And she has talked through the reasons. She’s made it clear about the direction of travel in interest rates. I think people can take some comfort from that.

But rates have already gone down a couple of times, there’s cost of living rolling out in our community, we’ve made very substantial and now sustained progress in the fight against inflation. And I think the Governor’s approach to cutting rates already a couple of times this year and saying that there are likely to be more interest rate cuts on the way, I think that reflects that progress that we’ve made.

Gilbert:

On the reform roundtable, it’s coming up not that far away now, next month. I wonder, initially it was called a productivity reform roundtable, then you broadened it out to an Economic Reform Roundtable. Are you having to drag some of your senior colleagues to the table when it comes to serious reform?

Chalmers:

A couple of things about that. I mean, I don’t mind what you call it. I think the productivity challenge is central to our economic reform efforts. It already is, but we’re looking to build consensus on the next steps in that agenda. And so, I think productivity and economic reform are inseparable.

I said at the Press Club, and the Prime Minister said at the Press Club, that this is all about building consensus, building on the progress that we’ve made, building on our substantial agenda. Productivity will be the major focus, but it won’t be the only focus.

I’ve spent a fair bit of time in the last couple of weeks finalising the agenda, trying to work out how we issue the next set of invitations. It’s been difficult, frankly, because there’s been so much interest from my ministerial colleagues, from business leaders and union leaders and community leaders and others. That’s a very good thing. That’s a very welcome thing. And so, we’re almost ready to issue the next set of invitations beyond the 10 or 11 that we issued already.

I can tell you today, Kieran, that the agenda will be 3 days. The first day will be resilience, the second day, productivity, the third day, budget sustainability. Those are the 3 priorities that I indicated at the Press Club when I fleshed out our thinking when it comes to this particular roundtable.

Gilbert:

And on that final one, the budget sustainability, I know you’ve got young kids, as I do. Is it a focus, is it on your mind when you think about budget sustainability? You don’t want to leave a legacy of mounting and piling debt for the next generation?

Chalmers:

Absolutely. We try to apply an intergenerational lens to all of our considerations in my portfolio, whether it’s budget sustainability, indeed. The productivity challenge is all about lifting living standards and sustainably lifting wages over time so people can earn more and keep more of what they earn and provide for their loved ones. And we see that in intergenerational terms.

That is a big motivation for what we are putting together for the discussions in August. It will be a big influence on the work we do in July as well, whether it’s our international engagement, the work that I’m doing with states and the regulators, the work that I’m doing with peak organisations.

I’ve already had good, long discussions with leaders of the business community and the union movement and others. Because we don’t want to waste this opportunity to build consensus around the next steps. And tax will be part of the discussion, productivity will be part of the discussion, you can imagine a big focus on AI and technology, attracting capital and investment, quickening approvals, better regulation, an emphasis on people and skills. These are the sorts of things that people should expect will be central at the roundtable in August.

Gilbert:

And finally, you’re at the Tasmanian Labor launch ahead of the election this weekend. There’s a big focus on the economy, on that stadium, but I know there’s a minerals processor, Nyrstar, that needs some federal support as well. Is it important to you to keep a sovereign minerals processing capacity in Australia, particularly there in Tasmania where you are today?

Chalmers:

Absolutely. You know, we’re in discussions with the company and also with the governments. It actually involves, these discussions, 3 governments: South Australia, Tasmania and the Commonwealth.

As the Prime Minister said earlier in the week, I think it’s clear and obvious that we’re in those discussions, we’re trying to come to a good outcome here. And our support for this industry is illustrated by the fact we’ve already got $70 million jointly on the table for Nyrstar.

We’ve got a $2 billion aluminium fund which is all about the future of smelters. And so, we come to the table in good faith. We do want to see a good outcome. We’re obviously aware of the issues there and we’re in discussions with the relevant government.

But the reason I’m here in Tasmania today, Kieran, is because this election here in Tasmania has been made necessary by the economic mismanagement of the Rockliff Liberal government here and by the absolute disaster which is the Spirit of Tasmania program, the infrastructure program there.

So, the election here in Tasmania is a pretty simple choice: 4 more years of farce and failure and economic mismanagement from a Liberal government stumbling from one stuff up to another, or a fresh start under Dean Winter and Tasmanian Labor.

I know Dean Winter. I think he has all the ingredients to be a wonderful Premier. And I’m really proud to be in Devonport, Tasmania, to support him today and to help him with the formalities of launching the campaign. I encourage every Tasmanian to vote Labor at this election.

Gilbert:

Treasurer, thank you for your time. Thanks for joining us this Sunday, ahead of that election next week.

Chalmers:

Appreciate it, Kieran. All the best.

MIL OSI News –

July 14, 2025
MIL-OSI USA: Case Completes Second Weeklong District Walk Story This Year

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

(HONOLULU, HI) — U.S. Representative Ed Case (Hawai‘i-First District) devoted most of his July 7-11th week home from Congress to five days of walking communities across his district, talking with constituents he met along the way at their homes, workplaces and other areas.

In his second weeklong district “Walk Story” this year, Case walked the communities of Pālolo, Kaimukī , Mo’ili’ili, Kalihi, Salt Lake, Āliamanu, Foster Village, Moanalua, Hālawa and ‘Aiea, talking with hundreds of residents wherever he found them.

Case kicked off his Walk Stories while back home the week of April 21st of this year, when over another five day stretch he walked parts of Kalama Valley, Niu Valley, ‘Āina Haina, Wai‘alae, Nui Valley, McCully, Pearlridge, Waimalu, Pearl City, Pacific Palisades, Mililani Mauka, Waipio Acres, Waipahu, ‘Ewa Beach, ‘Ewa Villages, Kalaeloa and Kapolei.

“I’ve always been committed to staying as close to my constituents as possible in different ways that work best for them”, said Case, who over his decade-plus in the U.S. House has hosted hundreds of live, in-person Talk Story community meetings throughout his districts as well as virtual meetings, including six in-person and one virtual Talk Story earlier this year.

“But as this 119th Congress (2025-2027) and the second Trump administration got underway this year and the polarization and noise of anger and division on Capitol Hill and across the country reached new highs, I felt I needed to strengthen my direct connection to all of the residents of Hawaii’s First Congressional District, especially those that do not regularly engage their government or me, by reaching out and talking story in different ways when I’m home.

“For me, these two full weeks now of Walk Story have been incredibly valuable because I’ve been able to talk personally with a highly diverse and representative part of my constituency just going about their lives and expressing their views and concerns for our country, Hawai‘i, family, workplaces and communities.

“After each of my Walk Story weeks, I’ve returned to Capitol Hill with a sense strong connection back home and direction for the issues I must focus on and directions I must take.

“As for what I heard in my most recent Walk Story, like April’s, it’s no surprise that the cost of living remains a universal concern. But is not just the actual costs; it’s the uncertainty of where the costs are going that makes it so difficult to plan and adjust.

“Closely related, most remain concerned about the direction of our country, especially under the Trump administration. What was different from my April Walk Story, though, was that more folks who had voted for President Trump were undecided to unsupportive about many of his administration’s initiatives, on both foreign and domestic policy, and there was far more concern for preservation of the rule of law. Many regardless of how they voted were especially concerned at the recent reconciliation budget law and its effects on their own families and communities.

“Another major area of concern was our small businesses, which is virtually all of our businesses in Hawai‘i.

“I walked into dozens and dozens of small businesses of all kinds, from eateries to vehicle repair shops, florists, financial institutions, travel agencies, insurers, remodelers, contractors, engineers, food distributors, jewelers and on and on, talking with their owners, managers and employees about their businesses and what concerned them.

“Virtually all expressed uncertainty about their own situations, especially given the administration’s ongoing trade and tariff wars on imports from other countries which is resulting in increasing prices to their customers.

“Although I wasn’t surprised at the big picture of what I heard from my constituents, to have it all validated with real-world stories of personal views and impacts from across the political, economic and social spectrum was deeply valuable to my responsibility to represent all of my district in addressing the major challenges we all face.

“I’m already looking forward to my next Walk Story on one of my upcoming times home, to add again to my many other efforts to stay strongly connected with my constituents to listen to their views and concerns and answer their questions.”

As part of his ongoing efforts, Case is also hosting another live districtwide Tele-Talk Story on Tuesday, July 29th, 6PM to 7:30PM Hawai‘i time. Details on how constituents can join and provide questions are at case.house.gov.

Attached are samples of pictures from Case’s July Walk Story (pictures courtesy of Congressman Ed Case)

###

MIL OSI USA News –

July 14, 2025
MIL-OSI Asia-Pac: Mainland Cantonese-style chicken pot restaurant to go global via Hong Kong (with photos)

Source: Hong Kong Government special administrative region

â€‹Invest Hong Kong (InvestHK) today (July 14) welcomed the opening of Guangzhou Fung Yuen Cantonese-style chicken pot brand’s first restaurant in Hong Kong. The company has also chosen Hong Kong as its regional headquarters to expand into the Greater China and Asian markets, serving as a bridge between the Mainland and overseas markets to co-ordinate resource allocation and take the Fung Yuen brand to the international market.

Associate Director-General of Investment Promotion at InvestHK Mr Arnold Lau said, “We welcome Fung Yuen’s establishment in Hong Kong. It not only provides more dining options for local consumers but also helps the brand expand into international markets by leveraging Hong Kong’s international platform and using Hong Kong as a bridge between the Mainland and overseas markets.”

The Chairman of Hong Kong Fung Yuen Yezhen Catering Management Co Ltd, Mr Xie Tian, said, “As the world’s freest economy and an international financial centre, Hong Kong has a highly open market, commercial rules that align with international standards, and a strategic location in the heart of the Asia-Pacific region. The city has become an ideal springboard for many Mainland brands to promote Chinese cuisine to the world. Based in Guangzhou for many years, Fung Yuen has chosen Hong Kong as its regional headquarters to leverage the ‘Belt and Road’ initiative to streamline its cross-border supply chains, as well as to promote the standardised exportation of Cantonese soup culture via Hong Kong’s international influence.”

He added, “Fung Yuen in Hong Kong is positioned as a chicken pot restaurant offering premium ingredients and a comfortable dining experience. We have private rooms to cater to different customer needs. Our signature chicken dishes, including Fung Yuen chicken hot pot, crispy chicken hot pot, and coconut chicken hot pot, are nutritious and refreshing. Apart from chicken, we also offer a variety of options such as beef, seafood, and mushrooms, as well as several Cantonese-style desserts for customers’ selection. We will continue to gather feedback from local customers and combine it with international dining trends to develop innovative dishes.”

Founded in 2013, Fung Yuen has more than 20 branches in Guangzhou, Zhuhai, Chengdu, Shanghai and Xiamen. Mr Xie stated that the company chose Mong Kok as its first store in Hong Kong, a popular tourist hotspot that also gathers fashion and cultural trends. In the future, the company plans to use Hong Kong as a testbed to explore new dining models and attract diverse local and cross-border consumers to experience Fung Yuen’s culinary culture.

To download event photos, please visit: www.flickr.com/photos/investhk/albums/72177720327484809.

MIL OSI Asia Pacific News –

July 14, 2025
MIL-OSI China: Hong Kong’s financial ties with ROK strengthened amid enhanced regional connectivity

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

Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, on Sunday highlighted the growing significance of regional cooperation amid changing global dynamics and affirmed Hong Kong’s commitment to foster multi-layered interactions with various economies in the region to solidify the foundation for collaboration.

In a blog post, Chan spoke of his recent trip to the Republic of Korea (ROK) to explore new opportunities for cooperation.

He noted that Hong Kong’s financial market and initial public offerings (IPOs) have performed robustly since September 2024, with significant interest from ROK investors in both Hong Kong and the Chinese mainland markets.

In the first five months of this year, the total trading volume of licensed securities firms from the ROK based in Hong Kong surpassed 1.5 trillion HK dollars, marking a 2.8-fold increase compared to the total for 2024, he said.

Chan also underscored the rapid growth of Exchange Traded Funds (ETFs) in Hong Kong, describing them as a convenient mechanism for enhancing market connectivity. More products were being cross-listed between the two markets, whether through ETFs investing in South Korean stocks being listed in Hong Kong or those tracking Hong Kong indices being listed in the ROK, he said, adding that such interconnection boosts market liquidity and expands the investor base.

In fact, Hong Kong serves as a hub for both Chinese mainland and international capital, Chan said. Mechanisms that enhance financial market connectivity can attract more domestic and foreign investments in companies listed in both Hong Kong and South Korea, while also creating new opportunities and asset allocation options for investors, he added.

Chan noted that Hong Kong, as a “super connector” and “super value creator,” boasts several world-class universities and excellent research capabilities. Coupled with the thriving innovation and technology ecosystem of the Guangdong-Hong Kong-Macao Greater Bay Area, this can facilitate stronger connections and deeper cooperation between tech enterprises from both Hong Kong and the ROK, allowing innovative ideas and cutting-edge technologies to find broader applications and enhanced commercialization opportunities, he said.

MIL OSI China News –

July 14, 2025
MIL-OSI China: Openness, fair competition power China’s unified national market

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

A drone photo taken on July 2, 2025 shows an electric vertical take-off-and-landing (eVTOL) aircraft performing flight demonstration at Luogang Park in Hefei, east China’s Anhui Province. (Xinhua/Zhou Mu)

At Hefei’s urban air mobility hub, the rotor blades of an electric vertical take-off and landing (eVTOL) aircraft hum to life before it glides smoothly into the summer sky.

Known as a “flying taxi,” this innovative vehicle is operated by Hefei Heyi Aviation Co., which in March became one of China’s first companies to receive an operating certificate for passenger-grade civil unmanned aircraft.

“Chinese companies have long been capable of designing and building these aircraft, but operating them was challenging due to regulatory restrictions,” said Li Xiaona, general manager of the company in east China’s Anhui Province.

Following the breakthrough in airworthiness certification, the commercialization of passenger-grade unmanned aircraft in China has accelerated, with government agencies working closely with industry bodies to set clear standards and define responsibilities.

By clearly defining “how to enter” and “how to regulate,” China’s low-altitude economy has hit the fast-forward button. Data show that over 80,000 companies are now operating nationwide, with the market continuing to expand rapidly.

This exemplifies the Chinese government’s efforts to streamline administrative approvals and boost market vitality. China’s vast and rapidly growing market provides a crucial advantage and a stable foundation amid global uncertainties. To drive high-quality growth and establish a new development model, building a unified national market is vital, and government authorities nationwide are stepping up efforts to make this vision a reality.

Beyond aviation, China has steadily enhanced its market access regulations, opening more sectors to private and foreign investment, thereby driving innovation and fostering competition.

In April, the country released a new edition of its national market access negative list, cutting the number of restricted items to 106 from 151 in 2018, a move designed to provide businesses with clearer expectations and greater certainty.

With market entry barriers lowered, private and foreign businesses are discovering fresh opportunities across various sectors.

In Beijing, Minospace recently secured an 804 million yuan (about 112 million U.S. dollars) contract to develop and launch a network of 10 remote-sensing microsatellites. For a privately owned company founded in 2017, the scale of this order is especially significant, underscoring how private players are becoming more deeply involved in driving growth in China’s aerospace sector.

In February, China approved 13 foreign companies to operate pilot value-added telecommunications services. In May, Hong Kong Cell Valley launched operations in Shenzhen under a new Guangdong pilot program that permits overseas investors to develop and apply technologies related to human stem cells, as well as gene diagnosis and treatment.

Guo Liyan, deputy head of the Economic Research Institute at the National Development and Reform Commission, said that alongside the streamlining of the negative list, reforms in approvals, registration and supervision are progressing simultaneously to ensure a level playing field for all businesses.

In south China’s Guangxi Zhuang Autonomous Region, local authorities have removed discriminatory licensing restrictions in the shared e-bike sector, opening the market to more brands. Meanwhile, in Wuhan, capital city of central Hubei Province, automakers and suppliers have formed an industry alliance to develop automotive-grade chips, fostering greater collaboration across the supply chain.

Similar efforts to eliminate market entry barriers have increased bidding success rates of private firms and fostered the growth of new business models, emerging industries and innovative application scenarios.

Government authorities across the country have also been working to improve infrastructure connectivity, strengthen industrial coordination and enhance data sharing, building a more standardized and fair market environment to support stronger business capabilities and unlock the full potential of the national market.

“A large market does not automatically generate scale effects. Reforms are essential to consolidate and expand market resources and create synergy between large factories and a unified market,” said Dong Yu, executive vice dean of the China Institute for Development Planning at Tsinghua University.

Going ahead, China is expected to implement more robust measures to refine market access rules and enhance the business environment, developing a unified national market where innovation will thrive and growth momentum can be further unleashed.

MIL OSI China News –

July 14, 2025
MIL-Evening Report: Women played key roles in Syria’s revolution. Now they’ve been pushed to the margins

Source: The Conversation (Au and NZ) – By Kinda Alsamara, Lecturer in the School of Languages and Cultures, The University of Queensland

The end of the oppressive Assad regime in Syria in late 2024 has been broadly welcomed on the global stage – underscored by the fact the United States and European Union have now lifted sanctions against the country.

However, women have been marginalised by Syria’s new leadership. That’s a problem for Syrian women, of course, but it also puts at risk prospects for sustainable peace in Syria.

A growing body of research, including our own, shows a direct correlation between gender equality and peace.

Syria now stands at a crossroads. Will it ensure women’s meaningful participation and follow a path to peace? Or will things head in the other direction?

This is more urgent than ever. Failure to grapple with women’s rights in Syria risks plunging the nation further into extremist violence.

Women excluded both before and after Assad’s rule

After decades in power, the harsh Assad regime was overthrown late last year by rebels led by Sunni Islamist militant group Hayat Tahrir al-Sham.

But women – who were marginalised politically and economically under Assad – continue to be systematically excluded from decision-making in the new government.

This is even though women played an essential role in the Syrian revolution. They organised protests and advocated for rights (often at great personal risk).

They endured sacrifices such as imprisonment, torture, disappearance and displacement.

Yet, only one woman was appointed to Syria’s immediate post-Assad caretaker government. She didn’t get a ministerial title.

The caretaker government spokesman reportedly suggested women’s “biological and physiological nature” makes them unsuitable for certain government roles.

Reports allege the man initially appointed as Syria’s new minister of justice previously oversaw executions of women accused of being sex workers.

Some Syrian activists are concerned Hayat Tahrir al-Sham will enforce a gendered and conservative interpretation of Islamic law, which prevailed in its previous stronghold of Idlib (a city in northwestern Syria).

Limited roles for women

A key moment came when the new Syrian government held a “national dialogue conference” earlier this year. This conference was to establish a forward-looking “political identity” for Syria.

Of the seven-member conference preparatory committee, only two were women.

There was no representation on the preparatory committee from several of Syria’s diverse communities, including Kurdish, Alawite and Druze groups.

Most members had strong ties with Hayat Tahrir al-Sham or other Islamist factions.

About 200 of the 1,000 delegates at the conference were women. However, their input in legislative and security committees was minimal.

Only one of 18 conference recommendations referred (in a limited way) to women.

Following the national dialogue conference, new Syrian President Ahmed Hussein al-Sharaa signed into force a constitutional declaration that set a five-year transition period and established the interim government.

Senior figures in the new government described the declaration as guaranteeing women’s political and economic rights.

Yet only one of Syria’s 23 ministers is a woman: Hind Kabawat, appointed as minister of social affairs and labour. This “soft” portfolio is commonly associated with gendered expectations around care and welfare.

Key ministries were allocated to al-Sharaa’s all-male long-time comrades from Hayat Tahrir al-Sham’s base in Idlib.

Change is possible

A just and sustainable peace requires proactive measures to integrate women into leadership roles in Syria.

Change is possible. For example, constitutional mandates could guarantee minimum representation for women in ministerial leadership and judicial positions, which would better reflect the diversity of Syrian society.

Independent mechanisms could be established to investigate and address gender-based injustices. This would need to provide accountability for past abuses and protect women’s rights under the post-Assad system.

As we have previously noted, there cannot be a “collective forgetting” of crimes Syrian women experienced in the past.

Economic empowerment initiatives would also help foster women’s financial independence and participation in public life.

Public awareness campaigns could also highlight women’s contributions to the revolution and their essential role in nation-building.

Syria at a crossroads

With the recent lifting of sanctions by the US and EU, and ongoing regional instability globally, Syria stands at a crossroads.

The G7 Summit in May 2025 emphasised the global community’s renewed focus on women’s participation in peace processes.

Influential middle-power countries can play a key role by reviewing sanctions and tying humanitarian aid to the promotion of human rights, gender inclusion and pluralistic governance.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Women played key roles in Syria’s revolution. Now they’ve been pushed to the margins – https://theconversation.com/women-played-key-roles-in-syrias-revolution-now-theyve-been-pushed-to-the-margins-257358

MIL OSI Analysis – EveningReport.nz –

July 14, 2025
MIL-OSI New Zealand: Statement of Performance Expectations
Source: Privacy Commissioner

The Statement of Performance Expectations (SPE) describes our intended financial and non-financial performance during the financial year (1 July – 30 June). Publishing a Statement of Performance Expectations is a requirement of all Crown entities under the Crown Entities Act 2004.

Statement of Performance Expectations 1 July 2025 to 30 June 2026

Read the current Statement of Performance Expectations (opens to PDF,2.1MB).

Safeguarding personal information benefits all of New Zealand. For our people, protecting privacy reduces the privacy harms that may result, whether they are financial, reputational or emotional. For our companies and government agencies, soundly managing personal information enables the flow of goods and services through building the trust of customers and clients. For our society, privacy is a foundation underpinning the trust in the institutions of our democracy.

For 2025/26 we have set ourselves three key areas of strategic focus:
1. Provide guidance and develop processes to support the implementation of legislative and regulatory privacy initiatives.
2. Engage with agencies to build their privacy capability and empower New Zealanders to assert their privacy rights.
3. Focus our activities on the technological and digital innovations being adopted by organisations and businesses
Read previous Statements of Performance Expectations below:

MIL OSI New Zealand News –
July 14, 2025
MIL-OSI Security: Two Lubbock Men Indicted with Brooklynn Chandler Willy for Allegedly Defrauding Hundreds of Victims

Source: US FBI

SAN ANTONIO – Two Lubbock men made their initial appearances in a federal court in San Antonio today after a federal grand jury returned an indictment on July 2 charging them for their alleged roles in a massive Ponzi fraud scheme with co-defendant Brooklynn Chandler Willy of San Antonio.

According to the indictment, Joshua Allen and Michael Cox jointly owned and controlled four investment companies: Ferrum Capital LLC, Ferrum II LLC, Ferrum III LLC, and Ferrum IV LLC. Allen, Cox, Willy and others acting at their direction, solicited victims to invest in these entities. Willy, who was arrested in December on separate obstruction and fraud charges, was the owner of Chandler Capital Holdings and Queen B Advisory LLC doing business as Texas Financial Advisory (TFA). Among other services, TFA purported to provide asset management and financial planning services.

The indictment alleges that Allen, Cox and Willy misled the victims concerning the security of the investments and concealed their high commissions. Additionally, Allen and Cox allegedly lied about the nature of the investments. Hundreds of victims collectively lost millions of dollars. Much of that money went to pay earlier investor-victims, thereby concealing the scheme and attracting additional victims. Much of the money also directly benefitted the now indicted co-conspirators and their associates.

Allen, Cox, and Willy are each charged with one count of conspiracy to commit wire fraud, one count of conspiracy to commit money laundering, one count of conspiracy to launder monetary instruments, and one count of securities fraud.

Allen and Cox made their initial court appearance today before U.S. Magistrate Judge Henry Bemporad. If convicted on all charges, they face up to 70 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

U.S. Attorney Justin R. Simmons for the Western District of Texas made the announcement.

The FBI and IRS-CI are investigating the case.

Assistant U.S. Attorneys Joe Blackwell and Kelly Stephenson are prosecuting the case.

An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

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MIL Security OSI –

July 14, 2025
MIL-OSI China: China’s booming marine economy drives sustained, stable growth in global trade, development

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

China’s booming marine economy drives sustained, stable growth in global trade, development

Updated: July 14, 2025 08:42 Xinhua

This aerial photo taken on July 9, 2025 shows a New Zealand cargo ship unloading at Damaiyu Port in Yuhuan City, east China’s Zhejiang Province. China’s maritime industry now handles nearly one-third of global maritime shipping volume, according to the 2025 China Maritime Day Forum held in the coastal town of Boao in south China’s Hainan Province on Friday. China’s booming marine economy is driving sustained and stable growth in global trade and development. [Photo/Xinhua]

This aerial drone photo taken on July 10, 2025 shows a view of Longtan Container Terminal of Nanjing Port in Nanjing, east China’s Jiangsu Province. [Photo/Xinhua]

This aerial drone photo taken on July 13, 2025 shows a view of Yangzhou Port in Yangzhou, east China’s Jiangsu Province. [Photo/Xinhua]

This aerial drone photo taken on July 8, 2025 shows container ships entering Qingdao Port in Qingdao, east China’s Shandong Province. [Photo/Xinhua]

This aerial photo taken on July 13, 2025 shows engineering mechanical products for export rallied at a port in Lianyungang City, east China’s Jiangsu Province. [Photo/Xinhua]

This aerial photo taken on July 13, 2025 shows motor vehicles waiting to be exported at a port in Lianyungang City, east China’s Jiangsu Province. [Photo/Xinhua]

This aerial drone photo taken on July 8, 2025 shows a container ship approaching to Qingdao Port in Qingdao, east China’s Shandong Province. [Photo/Xinhua]

MIL OSI China News –

July 14, 2025

Category: Economy

Taxes “need to be raised”

Housing target “will not be met”

Concerns about the US

What is medicinal cannabis used for?

What does the evidence say?

Access over evidence

Doctors are often flying blind

Access and affordability: a system failing patients

What needs to change?

Source: Federated Farmers

Source: Ara Institute of Canterbury

5,000 jobs secured as construction starts on Port Talbot green steel project

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Updates to this page

Women excluded both before and after Assad’s rule

Limited roles for women

Change is possible

Syria at a crossroads

Statement of Performance Expectations 1 July 2025 to 30 June 2026

Read previous Statements of Performance Expectations below: