Category: Economy

  • MIL-OSI: Parex Resources Announces Production Update and Timing of Q2 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 03, 2025 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) announces a production update and plan to release its Q2 2025 financial and operating results on July 30, 2025.

    Q2 2025 Production Update(1)(2)

    • Estimated Q2 2025 average production was 42,550 boe/d.
    • June 2025 average production was approximately 43,950 boe/d; production growth was supported by previously disclosed positive exploration results and the successful startup of the first follow-up horizontal well at LLA-74 in the Southern Llanos.
    • In July 2025, the Company expects to ramp up production from its second follow-up horizontal well at LLA-74 and bring onstream the first well of the LLA-32 development campaign.
    boe/d For the three months ended June 30, 2025
    Block LLA-34 21,500
    Southern Llanos 13,800
    Northern Llanos 4,000
    Magdalena Basin 2,250
    Natural Gas Production 1,000
    Average Production 42,550


    Monthly Production Breakdown
    (1)(2)

    boe/d April 2025 May 2025 June 2025
    Average Production 41,350 42,300 43,950

    (1) See “Product Type Disclosure.”
    (2) Average production numbers are preliminary, subject to final reconciliation, and rounded for presentation purposes.

    Q2 2025 Conference Call & Webcast

    Parex will host a conference call and webcast to discuss its Q2 2025 results on Wednesday, July 30, 2025, beginning at 9:30 am MT (11:30 am ET). To participate in the conference call or webcast, please see the access information below:

    Conference ID:                                                
    Participant Toll-Free Dial-In Number:                
    Participant Dial-In Number:                             
    Webcast:                                                         
    5403995
    1-646-307-1963
    1-647-932-3411
    https://events.q4inc.com/attendee/228530270

    About Parex Resources Inc.

    Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable, conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia. Parex shares trade on the Toronto Stock Exchange under the symbol PXT.

    For more information, please contact:

    Mike Kruchten
    Senior Vice President, Capital Markets & Corporate Planning
    Parex Resources Inc.
    403-517-1733
    investor.relations@parexresources.com

    Steven Eirich
    Senior Investor Relations & Communications Advisor
    Parex Resources Inc.
    587-293-3286
    investor.relations@parexresources.com

    NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES

    Product Type Disclosure

    Product Type April 2025 May 2025 June 2025
    Light & Medium Crude Oil (bbl/d) 10,803 10,193 10,976
    Heavy Crude Oil (bbl/d) 29,761 31,089 31,811
    Conventional Natural Gas (mcf/d) 4,721 6,115 6,978
    Oil Equivalent (boe/d) 41,350(1) 42,300(1) 43,950(1)
    Product Type For the three months ended June 30, 2025
    Light & Medium Crude Oil (bbl/d) 10,662
    Heavy Crude Oil (bbl/d) 30,899
    Conventional Natural Gas (mcf/d) 5,941
    Oil Equivalent (boe/d) 42,550(1)

    (1) Average production numbers are preliminary, subject to final reconciliation, and rounded for presentation purposes.

    Oil & Gas Matters Advisory

    The term “Boe” means a barrel of oil equivalent on the basis of 6 thousand cubic feet (“mcf”) of natural gas to 1 barrel (“bbl”). Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 mcf: 1 bbl, utilizing a conversion ratio at 6 mcf: 1 bbl may be misleading as an indication of value.

    Abbreviations

    The following abbreviations used in this press release have the meanings set forth below:

    bbl/d barrels per day
    boe/d barrels of oil equivalent of natural gas per day
    mcf/d thousand cubic feet per day
       

    PDF available: http://ml.globenewswire.com/Resource/Download/5c0587f6-47f0-4420-bfc6-31a2e9c7cdf2

    The MIL Network

  • MIL-OSI: Netcapital Announces Up To $9.9 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

    Source: GlobeNewswire (MIL-OSI)

    $5 million upfront with up to an additional $4.9 million of potential aggregate gross proceeds upon the exercise in full of short-term warrants

    Boston, July 03, 2025 (GLOBE NEWSWIRE) — Netcapital Inc. (the “Company”) (NASDAQ: NCPL, NPCLW), a digital private capital markets ecosystem, today announced that it has entered into definitive agreements for the purchase and sale of 714,286 shares of common stock at a purchase price of $7.00 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue unregistered short-term warrants to purchase up to 714,286 shares of common stock at an exercise price of $6.88 per share that will be immediately exercisable upon issuance and will expire twenty-four months following the effective date of the registration statement covering the resale of the shares of common stock issuable upon exercise of the unregistered short-term warrants. The closing of the offering is expected to occur on or about July 7, subject to the satisfaction of customary closing conditions.

    H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

    The gross proceeds to the Company from the offering are expected to be approximately $5 million, before deducting placement agent fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the unregistered short-term warrants, if fully-exercised on a cash basis, will be approximately $4.9 million. No assurance can be given that any of such unregistered short-term warrants will be exercised. The Company intends to use the net proceeds from the offering for the repayment of certain outstanding promissory notes and for general working capital purposes.

    The common stock (but not the unregistered short-term warrants and the shares of common stock underlying the unregistered short-term warrants) described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-267921) that was declared effective by the Securities and Exchange Commission (the “SEC”) on October 26, 2022. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

    The unregistered short-term warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying such unregistered short-term warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the unregistered short-term warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

    About Netcapital Inc.

    Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company’s consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company’s funding portal, Netcapital Funding Portal Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association. The Company’s broker-dealer, Netcapital Securities Inc., is also registered with the SEC and is a member of FINRA.

    Forward Looking Statements

    The information contained herein includes forward-looking statements. These statements relate to future events, including, but not limited to, statements relating to closing of the offering and satisfaction of closing conditions of the offering, the expected gross proceeds from the offering, the exercise of the unregistered short-term warrants prior to their expiration and statements regarding the anticipated use of proceeds from the offering, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

    Investor Contact

    800-460-0815
    ir@netcapital.com

    The MIL Network

  • MIL-OSI: Skycorp Solar Group Announces Board Authorization for Solar Photovoltaic Power Plant Acquisitions and Development

    Source: GlobeNewswire (MIL-OSI)

    Ningbo, China, July 03, 2025 (GLOBE NEWSWIRE) — Skycorp Solar Group Limited (the “Company”) (NASDAQ: PN), a solar PV product provider engaged in the manufacture and sale of solar cables and solar connectors, today announced that its Board of Directors has unanimously passed a resolution authorizing the Company to pursue solar photovoltaic (“PV”) power plant acquisitions and development projects under a $150 million investment framework. This decision marks a pivotal step in the Company’s strategic expansion into renewable energy infrastructure, reinforcing its commitment to driving the global transition to clean energy.

    The Company advises that acquiring and developing PV power plants involves inherent complexities that can extend execution timelines and introduce uncertainties regarding completion. Factors such as due diligence findings, regulatory approvals, and the progress of negotiations may delay or even terminate the transaction, potentially impacting its completion.

    Guidelines for PV Power Plant Initiatives

    The Company will conduct comprehensive due diligence on potential power plant targets, prioritizing verification of legal ownership, regulatory compliance, and asset quality to mitigate transactional risks.

    All capital expenditure and fund allocations by the Company will be conducted in a cautious, incremental manner, ensuring alignment with its overall strategic priorities and financial capabilities. “The Board’s authorization reflects our confidence in solar PV infrastructure as a cornerstone of the global energy transition,” said Weiqi Huang, CEO of Skycorp Solar Group. “By combining technological expertise with disciplined financial oversight, we are looking forward to successful acquisitions in the future, which will enable us to capitalize on emerging market opportunities while delivering sustainable value for stakeholders. Meanwhile, this initiative underscores our commitment to expand from component manufacturing to full-scale renewable energy solutions.”

    About Skycorp Solar Group Limited

    Skycorp Solar Group Limited is a solar photovoltaic (PV) product provider focused on manufacturing and selling solar cables and connectors. Our operations are managed through our subsidiaries, including Ningbo Skycorp Solar Co., Ltd., in China.

    The Company’s mission is to become a green energy solutions provider by utilizing solar power and delivering eco-friendly solar PV products. By leveraging the Company’s expertise in solar technologies and relationships with worldwide clients, it aims to expand offerings of solar PV products and energy solutions for enterprise customers. For more information, please visit: https://ir.skycorp.com/.

    Forward-Looking Statement

    This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

    For more information, please contact:

    Skycorp Solar Group Limited
    Cathy Li
    Investor Relations
    Email: ir@skycorp.com
    Tel: +86 185 0252 9641 (CN)

    WFS Investor Relations Inc.
    Connie Kang
    Partner
    Email: ckang@wealthfsllc.com
    Tel: +86 1381 185 7742 (CN)

    The MIL Network

  • MIL-OSI: Quadient recognized for the quality of its financial communication at the 2025 Transparency Awards

    Source: GlobeNewswire (MIL-OSI)

    Quadient recognized for the quality of its financial communication at the 2025 Transparency Awards

    Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, was honored at the 16th edition of the Transparency Awards, receiving the Transparency Prize in the “Outside SBF 120” category.

    Organized by Labrador, a leading authority in regulated information, the Transparency Awards are based on a thorough analysis of three public sources: the Universal Registration Document, the Annual General Meeting notice brochure, and the corporate website. For this 16th edition, 135 listed French companies were evaluated between March 31 and June 5, 2025, using a grid of 360 objective criteria structured around five core pillars of transparency: accessibility, accuracy, comparability, availability, and clarity.

    This distinction highlights the Group’s ongoing commitment to rigorous, transparent, and intelligible communication with all its shareholders and stakeholders.

    “Transparency is at the heart of the trust we build every day with our stakeholders. This award acknowledges our commitment to delivering clear, sincere, and comprehensive information. By upholding this standard, we strengthen, over time, the quality of our dialogue with investors, clients, and our broader ecosystem,” said Laurent du Passage, Chief Financial Officer of Quadient.

    ***

    About Quadient®
    Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

    For more information about Quadient, visit https://invest.quadient.com/.

    Contacts

    Attachment

    The MIL Network

  • MIL-OSI Economics: RBI imposes monetary penalty on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 30, 2025, imposed a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’, ‘Customer Protection – Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’, ‘Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)’ and ‘Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had failed to:

    1. carry out periodic review of risk categorisation of certain accounts at least once in six months;

    2. provide customers with 24×7 access to report unauthorized electronic banking transactions through multiple channels; and

    3. implement certain cyber security controls prescribed by RBI under the Cyber Security Framework.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/646

    MIL OSI Economics

  • MIL-OSI Economics: RBI imposes monetary penalty on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 30, 2025, imposed a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’, ‘Customer Protection – Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’, ‘Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)’ and ‘Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had failed to:

    1. carry out periodic review of risk categorisation of certain accounts at least once in six months;

    2. provide customers with 24×7 access to report unauthorized electronic banking transactions through multiple channels; and

    3. implement certain cyber security controls prescribed by RBI under the Cyber Security Framework.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/646

    MIL OSI Economics

  • MIL-OSI Economics: RBI imposes monetary penalty on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 30, 2025, imposed a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’, ‘Customer Protection – Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’, ‘Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)’ and ‘Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had failed to:

    1. carry out periodic review of risk categorisation of certain accounts at least once in six months;

    2. provide customers with 24×7 access to report unauthorized electronic banking transactions through multiple channels; and

    3. implement certain cyber security controls prescribed by RBI under the Cyber Security Framework.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/646

    MIL OSI Economics

  • MIL-OSI Economics: RBI imposes monetary penalty on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 30, 2025, imposed a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’, ‘Customer Protection – Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’, ‘Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)’ and ‘Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had failed to:

    1. carry out periodic review of risk categorisation of certain accounts at least once in six months;

    2. provide customers with 24×7 access to report unauthorized electronic banking transactions through multiple channels; and

    3. implement certain cyber security controls prescribed by RBI under the Cyber Security Framework.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/646

    MIL OSI Economics

  • MIL-OSI Economics: RBI imposes monetary penalty on District Central Co-operative Bank Ltd., Durg, Chhattisgarh

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 30, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on District Central Co-operative Bank Ltd., Durg, Chhattisgarh (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD), with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing and additional submissions made by it, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank:

    i) (a) did not upload the KYC records of certain customers onto Central KYC Records Registry (CKYCR) within the prescribed timeline,

    (b) did not carry out periodic updation of KYC of certain customers as per the prescribed periodicity; and

    ii) allotted multiple customer identification codes to certain individual customers, instead of a Unique Customer Identification Code (UCIC) for each individual customer.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/647

    MIL OSI Economics

  • MIL-OSI Europe: From Strategy to Success: Ireland’s Enterprise Policy Sets Stage for 2035 Vision

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    The Minister for Enterprise, Tourism and Employment, Peter Burke has launched the fourth and final Update Report on the White Paper on Enterprise Implementation Plan, marking the conclusion of a two-year implementation period that began in 2023 and went through to 2024.

    This report showcases the significant progress made across 40 strategic initiatives underpinned by 93 activities, with over 90% now delivered or on track for completion this year. The White Paper’s 15 key target metrics also show strong performance, particularly in areas such as employment, regional investment, and exporting.

    “It is excellent to see the progress that has been made across Government in realising the ambitions and objectives set out in the White Paper on Enterprise,” said Minister Burke. “This marks a period of sustained success for Irish enterprise, built on sustainability, innovation and productivity.”

    Advancements across digital transformation include the launch of the Grow Digital portal supporting SMEs in mapping their digital journey with over 10,000 page visits. Over €1.9 million was disbursed through European Digital Innovation Hubs, benefiting 337 companies with access to research infrastructure and technical expertise. AI adoption among SMEs increased from 8% in 2023 to 14.9% in 2024.

    In terms of net zero, Ireland’s Offshore Wind Strategy, Powering Prosperity, has been implemented with 38 of the 40 actions underway and €312.6 million was approved under the Growth and Sustainability Loan Scheme.

    Innovation and enterprise growth highlights included the €32 billion target for Irish owned company exports in 2023 which was exceeded at €34.57 billion, with the sector further supported by 90 High Potential Start-Ups (HPSUs) in 2024. The Knowledge Transfer Boost Programme was launched with €33.4 million to support spinouts and innovation.

    From a regional development perspective, 234 FDI projects were secured in 2024, with 58% located outside Dublin. Full employment was maintained across 2023 and 2024 with the Smart Regions Scheme and National Clustering Programme progressing toward a 2025 launch.

    Minister Burke went on to say, 

    “This fourth update report marks the completion of the implementation period for the White Paper on Enterprise. I will shortly commence the development of Enterprise 2035, a Programme for Government commitment to develop a new enterprise strategy with the ambition of enterprise growth and job creation over the coming decade. This work will complement wider efforts across Government to place Irish enterprise on a footing to grow and compete over the long-term in the face of international economic developments. I am currently developing an Action Plan on Competitiveness and Productivity which will address areas including innovation, infrastructure, regulation and costs, scaling of SMEs, and regional development.”

    Read the report in full here.

    Editors Notes

    The commitments set out in the White Paper on Enterprise, published in 2022, represent an ambitious vision for enterprise policy in the period to 2030, which will work to enable Irish-based enterprise to succeed through competitive advantage founded on sustainability, innovation and productivity, delivering rewarding jobs and livelihoods. 

    The 15 target metrics in the White Paper on Enterprise cover the Government’s ambitions across the areas of employment and seven identified priority policy objectives:

    1. integrating decarbonisation and net zero commitments;
    2. placing digital transformation at the heart of enterprise policy;
    3. advancing Ireland’s FDI and trade value proposition;
    4. strengthening the Irish-owned exporting sector;
    5. enabling locally trading sectors to thrive;
    6. stepping up enterprise innovation; and
    7. building on Ireland`s existing strengths and opportunities.

    Following publication of this fourth and final update report, the Department of Enterprise, Tourism and Employment will commence the development of Enterprise 2035. Enterprise 2035 was set out in the 2025 Programme for Government as a new enterprise strategy with the vision for a long-term ambition for enterprise growth and job creation over the coming decade.

    This policy will supersede the White Paper on Enterprise, maintaining a focus on building on Ireland’s strengths as an open economy with strong trade and foreign direct investment, a vibrant innovation ecosystem and a resilient labour market, while also adapting to new challenges in an increasingly uncertain world.

    ENDS

    MIL OSI Europe News

  • MIL-OSI: NIRI and Investor Relations Profession Recognized at Nasdaq and NYSE with Historic Dual Closing Bell Ceremonies

    Source: GlobeNewswire (MIL-OSI)

    PHILADELPHIA, July 03, 2025 (GLOBE NEWSWIRE) — NIRI: The Association for Investor Relations, together with The Philadelphia Chapter of NIRI marked a milestone for the investor relations (IR) profession by ringing the closing bells at both the Nasdaq and New York Stock Exchange on Monday, June 30, 2025. The simultaneous ceremonies celebrated the strategic role of investor relations professionals in progressing communications, confidence, and connection between companies and capital markets.

    “NIRI sets the standard for excellence in the field and is proud to represent more than 1,500 member companies and over 12 trillion dollars in market capitalization,” said Matthew D. Brusch, NIRI President and CEO, and co-bell ringer at the NYSE. “These ceremonies spotlighted the progress achieved in advancing the investor relations profession and recognition of the impact and value the NIRI community and IR brings to the capital markets.”

    This momentous and coordinated celebration was made possible with the leadership of our exchange hosts, Nasdaq’s Garrett Low, Senior Managing Director, Capital Access Platforms and NYSE’s Andrew Bjorkman, CETF, Director, Regional Head of Mid-Atlantic & Northwest and NIRI Philadelphia Board Vice President.

    Lisa M. Caperelli, NIRI Board Director and Vice President of Sponsorships for NIRI Philadelphia, rang the closing bell at Nasdaq MarketSite in Times Square, and commented, “As IR professionals, we are the bridge between companies and the investment community — translating strategy into story, numbers into narrative, and volatility into vision. This day was a powerful celebration of the strategic value the investor relations profession delivers to shareholders.”

    Nahla A. Azmy, President of NIRI Philadelphia, and co-bell ringer at the New York Stock Exchange, added, “It was an honor to represent NIRI Philadelphia and to share this historic bell closing event with our national colleagues. I am grateful to Nasdaq and NYSE for providing us the opportunity to showcase the energy and excellence that define our strong and resilient IR community.”

    Highlights from the Bell Ceremonies below:

    Bell Footage:

    Nasdaq:

    https://www.nasdaq.com/videos/niri-association-investor-relations-rings-nasdaq-stock-market-closing-bell

    NYSE:

    NIRI The Association for Investor Relations Rings The Closing Bell®

    Media Coverage:

    https://www.dropbox.com/scl/fo/3eh0w3l5d24f82v6b6spt/AMmfXrxLOaY2iHMziBwY_HA/25-6-30%20Close%20NET?rlkey=7a57pvfnugi78f7alui5q9zfo&subfolder_nav_tracking=1&st=9zxx6hxq&dl=0

    Photos and videos courtesy of NYSE Group and Nasdaq. They do not recommend or endorse any investments, investment strategies, companies, products or services.

    About the NIRI Philadelphia Chapter

    NIRI Philadelphia, formed in 1971, is a professional association of investor relations officers, communicators, consultants and providers serving organizations in the Greater Philadelphia area. NIRI Philadelphia includes members from a variety of industries and market cap sizes who are responsible for communications between their organizations, the investing public, and the financial community. NIRI Philadelphia’s goal is to provide its members the resources needed to be strategic leaders in their organizations.

    About NIRI: The Association for Investor Relations
     
    Founded in 1969, NIRI is the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts, and other financial community constituents. NIRI is the largest professional investor relations association in the world with members representing over 1,500 publicly held companies and $12 trillion in stock market capitalization.

    A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1568f348-2944-4b1d-a7de-bcc72f4f0a16

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ae437ae4-808d-4461-aac1-7c2e2fc83b50

    https://www.globenewswire.com/NewsRoom/AttachmentNg/36cdfcd1-5120-4925-9b92-87a52d341b52

    https://www.globenewswire.com/NewsRoom/AttachmentNg/385f28fc-f413-4018-9b55-bad2bee19e3c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/cb664f3a-625e-4214-ac78-4dddf5cf9053

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7c2aba6f-70fa-4cdf-8608-586a30202a42

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d2f9a484-87d5-479f-90e9-dfb57c1a9d3d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2a59a70b-00eb-4e48-b06b-1766cd294d3b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/119296ca-df8c-4cc1-87b4-2a5c0e38e936

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d83861f2-e97e-45da-8483-5bdefc480989

    The MIL Network

  • MIL-OSI United Kingdom: Martyn Oliver’s speech at the Festival of Education

    Source: United Kingdom – Executive Government & Departments

    Speech

    Martyn Oliver’s speech at the Festival of Education

    Sir Martyn Oliver, Ofsted’s Chief Inspector, spoke at the 2025 Festival of Education.

    Optimism, inclusion and Ian Dury

    Good morning, everybody. I’m delighted to be here at the festival of education; to be here in the beautiful grounds of Wellington school; here in the sunshine.

    And that’s apt because I’m hoping in the time we have together this morning we can let a little sunshine in. We can talk a bit about optimism. I want us to think about why we do what we do as educators, as people who work in this field: in many cases, as people who have dedicated their working lives to improving the life chances and prospects of a younger generation.

    I thought I’d open my speech this morning with a cliché. And I thought I’d try and find out who coined that cliché and how far back it goes. But there is no clarity about who first said, ‘school days are the best days of your life’. So, as we all do, I asked AI for the answer – and I know a lot of the discussions over the next couple of days are going to be dominated by the march of AI.

    The AI summary told me that ‘the phrase doesn’t have a clear single origin or a specific person who first said it’. It went on: “one early reference comes from a 1910 song titled School Days by Will D. Cobb and Gus Edwards which includes the line school days, school days, dear old golden rule days. While not an exact match it captures the nostalgic view of school days as a cherished time.”

    So, no answer then.

    Like all cliches, this one has survived because it works – because it’s true, at least for many of us (though not all, and I’ll return to this later). It alludes to the idea of a more carefree time, of friendships built in the playground, of growing confidence, moments of satisfaction, of joy – reasons to be cheerful to quote Ian Dury. That’s why we say it.

    I’m starting with that cliché because I want to strike an optimistic note this morning – which is not always a natural position for people in our profession to adopt. Things are always tough in education; there are always challenges to overcome. There are new expectations put on all of us – and it’s not lost on me that you’re waiting to read about Ofsted’s revised inspection model in September. There’s never enough money to go around. Doing ‘more with less’ is another cliché – as old as it is tiresome – but still a reality that we need to accommodate.

    But even so, I still believe there are plenty of reasons to be cheerful and reasons to be optimistic. And those reasons are rooted in schools. These transformative institutions that have shaped lives for centuries and will, I hope, shape them for centuries to come.

    However hard bitten and cynical we may have become over the years, most of us can look back to our school days and agree that they were, at least some of the happiest days of our lives.

    Schooling shapes lives

    I want to talk a little bit about what school meant for me.

    I’ll do my best to do this without the aid of rose-tinted spectacles. I shan’t be skipping through the daisies of my mind as it were. There’s a lot that wasn’t great about my school days. The quality of teaching and the quality of the curriculum I was taught was not good enough – and I think that was something that an awful lot of schools in the 1970s and 80s had in common. Standards were not high, and aspiration was not always encouraged.

    But, as with many of us, I had stand-out, individual teachers – people who I really connected with and who helped shape my life. People like my art teacher, Mrs Scarsbrick – she had a wonderful skill for painting and drawing landscapes. I remember that watercolour paintings of trees was her particular talent, whilst I was already increasingly focusing on portraiture, which I later went on to study.

    Then Mr Senior, the English teacher who inspired me from the first lesson at the beginning of secondary school. That very first lesson in September started with a brand new, hardback book: Steinbeck’s Of Mice and Men. We spent the first 10 minutes being instructed on how to loosen the binding and prevent cracking the spine. I also remember being devastated when he took a secondment to the USA when I was in Year 4/5 (Year 10/11 now): I took GCSEs in their first year of use and can recall even now that some teachers were totally lost in the new specification – so losing my trusted English tutor at this crucial time was especially difficult.

    And there was Mr Ashton, the PE teacher who arranged for me to go training 3 lunchtimes a week – running the well-known, and often well-hated, cross-country course with his staff, as I was a budding cross-country runner. 

    Each of these experiences recall relationships. Relationships with teachers – teachers who went above and beyond, teachers who I placed trust in and who I knew had my best interests at heart. They didn’t just inspire in art, English and PE, they inspired my interest in education, in teaching itself.

    And school had another function for me. It was the place I built friendships.

    I was extremely ill from the age of 2 to 12 (the crucial years to get the best start in life) and whilst my school attendance was good, the powerful drug I was on had clear side effects for me which affected my concentration. The drug relied on sedation – ideal in helping me be well, but not at all good for educational purposes! 

    I undoubtedly would have had an EHCP had such things existed then. Instead, I had a few stand-out teachers who cared for me as an individual and I had an army of excellent friends. The benefit of living on a new housing estate meant that many families moved onto the estate at the same time and I had dozens of peers who lived on the same street, let alone the same estate, who I could rely upon to help me.

    Generational shifts

    A lot has changed over the years in our schools. The quality of education has most definitely changed for the better. There are lots of reasons for that – including better training and development for teachers – the greater professionalisation of the sector in general. And you would expect me to make an argument that the introduction of Ofsted 30-odd years ago had a real impact in improving consistency in education and driving improvements.

    But alongside rising standards, schools have also changed to fit the needs and expectations of each generation. They’ve evolved alongside society. They have adapted to new qualifications, crafted new curriculums, embraced new subjects. Perhaps more than anything else, schools have responded to the advance of new technology.

    In my school days technology in the classroom was generally limited to that moment when the teacher would wheel out the big telly to play us a video – hugely exciting at the time of course. (The debate then was Betamax or VHS, what’s the equivalent debate now? Is it perhaps, generative or predictive AI?)

    But as computers made their way into schools, there was a more profound change. And that became seismic when the computers were no longer confined to the corners of classrooms and moved into our pockets. Their influence is everywhere and drives the debates and disagreements over the place of technology in learning.

    Artificial intelligence

    Right now, that debate is focused on artificial intelligence. It dominates the discourse in the media, and at events like this one. It’s a big topic of conversation at Ofsted and within government more widely.

    We’ve recently published a piece of research commissioned by the DfE which looks at early AI adopters in education. The research found that AI is beginning to have real benefits in terms of staff workload – particularly in areas like lesson planning; and that leaders are clear that they are prioritising safe, ethical and responsible uses of AI. So no robot teachers yet!

    It seems that there is always a commentator keen to tell us how AI will either transform learning or destroy it; how it presents an existential challenge to the traditional approach to education that we’ve all grown up with.

    But I would mount a defence of the traditional approach. Right now, many children live much of their lives online. Socially, they are never ‘off’ and always in touch with their friends. And they increasingly receive life lessons from influencers or AI– generated summaries. I would argue that the place of learning, real learning, classroom learning – with human interactions – has never been more important.

    Young people are growing up in an increasingly curated world in which their favoured influencers or corporate algorithms can have a disproportionate impression on their views and opinions. It’s more important than ever that young people are able to lift their eyes from the screen and connect with their teachers, in person.

    They need broad, balanced, considered and above all challenging information to help them learn and to help them grow. Being an art teacher, it was never lost on me that drawing makes you look harder at the world around you, it greatly increases your attention. It seems to me that many technologies now do the exact opposite and actively seek to give short-term, instant gratification.

    Not far short of 4 hundred years ago, John Milton wrote that he couldn’t ‘praise a cloistered and fugitive virtue, unexercised and unbreathed, that never sallies out and sees her adversary.’ He was arguing in favour of freedom of speech – ironically one of the great supposed touchstones for today’s keyboard warriors. Except, of course, they generally mean freedom of speech only for those that agree with them. In fact, in Areopagitica, Milton highlights the idea that true virtue is developed through experience and engagement with challenges, not through avoidance or seclusion.

    In a way there’s something cloistered about living one’s life in a curated online environment. You may be able to find ‘the best that has been thought or said’ if you go looking for it. But who’s guiding you through it? Where’s the human connection? And of course, where’s the protection?

    Community, relationships and learning

    Schools have never just been places of learning. They were, and are places of safety, even refuge. Places of community and connection. Places of friendship and humanity. They are citadels of childhood: communities within communities looking after their own and helping children develop into well-rounded adults – capable of looking after others in turn.

    Human relationships lie at the heart of every school’s success. And I’ve said ‘schools’ today, as they are the great universal service. But of course, those relationships begin for many in nurseries and continue on into further or higher education. Human connection is what makes education tick. And that is particularly true for more vulnerable children – those who need a little more attention paid to their wellbeing, alongside their education.

    Of course, schools have statutory roles to play. Safeguarding is an absolutely fundamental part of what we look at on inspection. Its principles are described over nearly 200 pages of guidance in Keeping Children Safe in Education. Safeguarding is something that all of us involved in education prioritise perhaps above everything else – and it’s a human process, not paperwork. People working together to safeguard children. Nothing infuriates me more than glib commentary about schools falling short on inspection because of duff paperwork – or schools pulling the wool over inspectors’ eyes because their paperwork is on point.

    Any of us here who have worked in schools understand that safeguarding starts with relationships. Good teachers, good head teachers know their pupils. They know which children are having a tough time in their life. They know which children are experiencing vulnerability for one reason or another. Perhaps it’s part of their life story – they are a child in care, or a child with special educational needs, or a child growing up in poverty. But really great teachers understand too that children will experience short-term difficulties – because childhood is full of challenges. Well-being issues, mental health issues, family issues, financial issues. It’s the ebb and flow of growing up for so many children and the really great schools get that.

    When I was head teacher of a secondary school with 2,200 pupils, those personal relationships were clearly difficult, but I always made it my priority to support those who needed us most, no matter how busy I might be – and that always involved working with parents and carers, as well as the pupil. I also understood, from my own personal experience, that children form relationships with those they trust – their art, English or PE teacher, in my case.

    Schools provide a safe, protective environment. To continue with my ‘citadels of childhood’ metaphor: they have walls, and they have watchers on those walls. But it’s within the walls where lives are changed. Where sparks of interest are fanned into flames and children can discover talents, they weren’t aware of, and passions that take them by surprise. They are taught the knowledge and skills that they need for life – but also the subjects that bring them joy.

    Cynics sometimes decry the norms of education. Exams are ‘gradgrindian’ in their eyes, the 3 R’s are no longer preparing children for the ‘jobs of tomorrow’. And Ofsted are accused of being enforcers for this ‘out-of-date’, ‘joyless’ system – forcing schools to jump through these hoops.

    Well let me tell you how it looks from where I’m standing. For Ofsted, teaching a full, rich range of subjects isn’t just a nice to have, it’s fundamental to a great education. Music and art and sports aren’t add-ons to the core curriculum, they are some of the most important subjects to study, in terms of developing a child’s awareness of the world around them. And in a more macro sense, feeding into the cultural evolution of our country and pushing civilization on.

    It often surprises people when I say that I started out as an art teacher, in 1995. Art was my passion then and it’s still my passion now. When I have the time I love to paint. I find that it forces me to slow down and deeply observe the world around me. But I too feel that temptation to pick up my smartphone and check my emails far too often, breaking the observational trance-like state. I can only imagine how difficult and tempting this is for children.

    Opening doors

    Of course, learning about art means learning about perspective.

    That’s a good thing in the context of mental health and well-being – such hot topics, sadly, at the moment. But if you think about the influence of art on human history – its central role in the Renaissance, or the influence of perspective on the Age of Discovery – art has been a driver of exploration, of invention and pushing back the frontiers of human knowledge.

    It is also no surprise to an art historian that there is expression in breaking the established rules – that’s the essence of original creativity. So 500 years after the rules of perspective were established, the Cubists proved this point. Life evolves as we move with the times. Another favourite quote of mine is from Lampedusa’s, Il Gattopardo, “if we want things to stay as they are, things will have to change”. It’s quite a common refrain that children should be taught ‘creativity’ – but creativity relies upon a deep understanding of knowledge and facts; it comes from pushing at the limits of knowledge, and first you need to be taught where those limits are.

    Every subject we teach our children opens doors for them. So, the rounded classroom experience: a broad and rich curriculum, structured carefully by expert teachers and taught within a safe and welcoming environment, is fundamental to the intellectual growth of individuals and the development of society. Matthew Arnold’s quote still holds. ‘The best that has been thought and said’ still matters. And while an AI-enabled search engine can find the raw material, I wouldn’t want to entrust the teaching to the same machine – at least not without the art and skill of the teacher as a guide and storyteller.

    The classroom experience is based on human relationships and a sense of belonging. I spoke about the first priority for schools being the safety of children. Well, children feel safe when they know somebody cares. When they know that their teachers will show up and keep showing up day after day to make sure they’ve learned what they were taught yesterday and are ready to learn something new today. We can’t outsource human contact. Teachers are, and must always remain, the heart of education.

    And education is an exercise of the heart as much as it is of the head. It’s about support and care, as well as instruction. They go hand in hand. Which brings me on to inclusion.

    Inclusion

    As you’ll all be aware Ofsted will publish the full details of our revised education inspection framework in early September. We’re taking time to analyse and consider all of the feedback we were given in the public consultation this spring. There will be some changes from the proposals we published back in February. But I don’t think I’m jumping the gun to say that inclusion will remain a central tenet – perhaps the central tenet in our new approach.

    And I hope the reason for that is obvious. It’s my north star. Inclusion is both my guiding principle and the fire in my belly. That was true as a teacher, as a head of sixth form, as a head teacher, as a multi-academy trust leader. It’s true now for me as His Majesty’s Chief Inspector.

    Those of you who have spent far more time than is healthy listening to or reading about the things that I’ve said since taking on the job, will have heard me talk about vulnerable and disadvantaged children. Asserting repeatedly that if schools get it right for the most vulnerable and disadvantaged among their pupils, they will get it right for all of their pupils.

    I use that phrase time and time again because I happen to believe that it’s true. And I have been challenged on my assertion now and then. But I have never seen or heard of a school that looks after the interests of disadvantaged and vulnerable children perfectly well but lets down those pupils who aren’t grappling with some of life’s more obvious challenges.

    That’s because those schools get it. They know their children and they understand that the secret of success lies in the relationships that bind the school community together.

    A school that truly understands the needs of its pupils will do right by its most vulnerable children, by its most gifted students and by all those children in-between.

    As always when we at Ofsted talk about a concept – like inclusion – it sparks debate and it energises the commentators and consultants to try and unpick what we mean.

    It’s really about relationships. It’s about belonging and thriving. It doesn’t mean being soft on behaviour or attendance. It doesn’t mean taking a dim view of head teachers who find the need to suspend or exclude a child, either in the pupil’s best interests or the interests of their classmates.

    When we talk about schools as places where children can feel safe, to grow, develop and express themselves we mustn’t forget how stabilising it is to understand the rules and to know they will be applied consistently and fairly. In the words of that 1910 song again: “School days – dear old golden rule days.”

    No – inclusion is about making sure that all pupils feel that they belong – no matter their personal talents or aptitudes, or the barriers and obstacles they need to overcome to feel that sense of belonging.

    And it is about putting disadvantaged and vulnerable children at the heart of what you do – as they will be at the heart of what we do as an inspectorate.

    And just as the term ‘inclusion’ can be a little hard to pin down, it’s also not easy to define what we mean by vulnerable. I think we all instinctively have a better understanding of disadvantage. There are clearer definitions. I’m sure everybody here who works in a school will be aware of how many of their children attract pupil premium for example. I’m sure many of you could reel off names.

    The concept of vulnerability is a little looser. Statutory responsibilities point us to formal designations: children with SEND, children who are looked after by the state. It’s absolutely right that we all maintain a laser-like focus on those children. But what about others who are experiencing vulnerability?

    I recently met with groups of young carers. Listening to their experiences and perspectives was both interesting and humbling. They feel a bit forgotten. All too often they are not included in our headline definitions of vulnerable children. And yet they are vulnerable. They don’t have the care structures that so many of us took for granted during our own childhoods. Instead, they themselves are the care structures for the adults in their lives. That has a huge impact on the way they view themselves, the way they view their potential and the way they think about their future.

    This week we published a piece of work that we commissioned from the National Children’s Bureau. We asked the NCB to consider how we might better define vulnerability in the context of our work.

    Their report is entitled ‘from trait to state’ and the definition of vulnerability that it puts forward leans into the idea that children move into and out of various degrees of vulnerability throughout their childhood.

    This describes vulnerability less as an immutable trait and more of a fluid state. It’s an interesting, and a logical concept, speaking to the importance of relationships that I’ve addressed in my comments today. Of course, it doesn’t detract from the responsibility that we all have to the children with SEND, those in care and children supported through pupil premium funding.

    But I think this definition gives us more latitude to think about how life impacts on the well-being of children in different ways, at different times. And how we best address vulnerability within the safe and nurturing communities that we create.

    I remember a particularly vulnerable cohort of SEND students who my SENDCO was desperately worried about leaving school at 16. So, she worked with their families and offered a uniquely bespoke post-16 course which gave this group the time and support that they needed to prepare for the transition to further education and employment. My wonderful SENDCO knew the children and worked to influence the entire school’s post-16 provision to meet their needs…it wasn’t a case of insisting that those children meet the needs of the school!

    Aspiration and optimism

    Education should be aspirational. And it should be aspirational for every child. Not everyone can ace their exams and get into Oxbridge. Not everyone will want to. Not everyone will turn a passion for music into a career as a concert pianist. But everyone can aim to learn a little more, develop a new skill and improve themselves one step at a time.

    That is as true for children with SEND as it is for those without; it’s as true for the poorest children as it is for the wealthiest. That’s not to deny the existence of barriers, but rather to flag a determination to overcome them.

    And if we are aspirational for all children, it stands to reason that we should be aspirational for all schools. I nodded earlier to the influence of Ofsted over the last 3 decades. I do believe that inspection helps schools look at where and how they can improve. It doesn’t make the improvement happen – that’s down to brilliant teachers and brilliant leaders working within their school community. But done right inspection can provide some pointers in the right direction.

    I’ve repeatedly said that I want inspection to feel done with not done to. That’s not just a nice touchy-feely sentiment. I want inspection to mirror what goes on in the places we inspect. Education at its best is done with, not done to. The best schools – the citadels of childhood – are places of belonging, rooted in human relationships and a sense of shared endeavour. They are optimistic places.

    Optimism isn’t easy. Particularly at our age…and especially if we read the papers!

    But children are optimistic. It’s a natural state of mind when you’re young, with your life stretching ahead of you, enjoying the best years of your life.

    It’s so much easier to be pessimistic and cynical as you get older. Because they are learned behaviours. But they should never be taught ones.

    That’s on all of us.

    Thank you for all you do for children and learners – and thank you for listening.

    Updates to this page

    Published 3 July 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Views sought on proposals for protecting Scotland’s environment

    Source: Scottish Government

    Draft plan to tackle nature loss, climate change and pollution

    Members of the public are being asked to have their say on proposals aimed at boosting the health, prosperity and wellbeing of communities by improving Scotland’s environment.

    The draft Environment Strategy sets out the opportunities for strengthening Scotland’s economy and improving people’s lives as a result of restoring and regenerating biodiversity, cutting levels of pollution and waste, supporting national net zero targets and improving Scotland’s environmental impact on countries across the world.

    It includes key government actions which aim to support green jobs and industries, tackle poverty and promote social justice including:

    • the transition to a circular economy through the reuse and repurposing of materials
    • increasing renewable energy generation in Scotland and supporting industrial decarbonisation with independent scenarios from Ernst and Young (EY), showing that with the right support, Scotland’s low carbon and renewable energy sector could support nearly 80,000 jobs by 2050
    • projects to restore nature – including those supported through the Nature Restoration Fund – which are also improving people’s physical and mental wellbeing by providing greater access to nature

    Cabinet Secretary for Climate Action and Energy Gillian Martin said: “This draft Environment Strategy sets out ways in which Government action will help tackle the nature crisis, as well as reduce pollution and support our net zero targets.

    “These issues are interlinked, and by tackling them together we can protect our planet in ways that improve people’s health and wellbeing, reduce inequalities, and create new opportunities for business and investment.

    “We have already made significant progress in improving Scotland’s environment. We have cut pollution levels by banning a number of the most problematic single-use plastic products and introduced Low Emission Zones.

    “Scotland’s energy grid is also greener, thanks to the increase in the amount of renewable energy we now generate, we are more than halfway to reaching net zero by 2045, and our forthcoming Natural Environment Bill will introduce new statutory targets for restoring nature. 

    “However there is still much more we can do – and it is vital we tackle these global crises in ways that create wider benefits for Scotland – supporting green jobs and industries, improving people’s health, tackling poverty and promoting social justice.

    “I urge everyone with an interest to have their say on the proposals.” 

    Deputy First Minister and Cabinet Secretary for Economy and Gaelic Kate Forbes said: “This draft Strategy shows how we can achieve both our environmental and our economic ambitions for Scotland, highlighting the business and investment opportunities that will flow as we move to a net zero, nature positive future.”

    Background

    The draft Environment Strategy will be open for public consultation until 25 September 2025

    Consultation on the draft Environment Strategy

    The draft Strategy fulfils Ministers’ obligation under section 47 of the UK Withdrawal from the EU (Continuity) (Scotland) Act 2021 to prepare, consult on and publish an environmental policy strategy. Section 47 of the Continuity Act also requires Scottish Ministers to have due regard to the strategy when making policies, including proposals for legislation.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Managing healthcare easy as online banking with revamped NHS App

    Source: United Kingdom – Government Statements

    Press release

    Managing healthcare easy as online banking with revamped NHS App

    NHS App to become complete digital front door to NHS, where patients book appointments, manage medicines, and view data

    • PM sets out how 10 Year Health Plan will bring NHS into 21st century to meet the needs of patients around the country
    • Patients to make self-referrals via App, connect with a clinician, link-up wearable tech, and gain free access to health apps
    • Plan for Change will rebuild NHS and see ground-breaking Single Patient Record finally in one place – viewable on App from 2028

    Patients will be able to access a range of healthcare services and advice at the touch of a button, Prime Minister Keir Starmer has set out today, as the Government’s Plan for Change drives forward fundamental reform to the NHS to make it easier and fairer for everyone to access the care they need.

    Launching the 10 Year Health Plan today – the government’s roadmap to rebuilding the health service to make it fit for the future – the PM set out how the App will act as a digital front door to the health service, overhauling how people get advice, manage appointments and interact with services to make their healthcare more convenient and more personalised.

    For the first time, patients will be able to book, move and cancel all their appointments on the App – ending the 8am scramble for a GP – and the App will use artificial intelligence to provide instant advice for patients who need non-urgent care, available 24/7.

    Through the plan, which has been published in Parliament today, patients will have quicker, better access to the right care. They will be able to self-refer on the App to mental health talking therapies, musculoskeletal services, podiatry, and audiology – freeing up GPs and new Neighbourhood Health Services to focus on providing direct care while dramatically slashing waiting lists for these services – delivering on the government’s Plan for Change promise to cut waiting lists.

    Accessing healthcare will be quicker than ever thanks to expanded features on the app. People will be able to manage their medicines and book vaccines from their phone, connect with a clinician for a remote consultation, and even leave a question for a specialist to answer without making an appointment. Patients simply being able to book an appointment digitally rather than today’s convoluted process will save the NHS £200 million over 3 years.

    For parents, the new App will deliver a 21st century alternative to the ‘red book’, ensuring that their children’s medical records are available to them in their pocket, so they do not have to carry their red books to every appointment. It will also provide advice and support throughout childhood, offering guidance on weaning and healthy habits. Over time, it will record feeding times, monitor sleep, and use AI analytics to understand the best way to care for children when they are unwell.

    The changes will build on the progress Government has already made to increase the number of hospitals allowing patients to view appointment information on the app. Almost 12 million fewer paper letters have been sent by hospitals since July 2024. Forecasts for this year show the use of in-app notifications for planned care will prevent the need for 15.7 million SMS messages.

    Prime Minister Keir Starmer said:

    For far too long, the NHS has been stuck in the past, reliant on letters, lengthy phone queues and even fax machines.

    But that doesn’t match the reality of our daily lives, where everything from shopping and banking to entertainment and travel can be sorted with the touch of a button from our phones.

    To rebuild our NHS, we have to make sure it reflects the society it serves. That’s why our 10 Year Health Plan will bring it into the digital age by opening up fairer and more convenient access to healthcare. Through our new App – a digital front door for your care – parents will be able to keep track of their children’s health through an online ‘red book’ fit for the 21st century, and we will put a stop to patients having to endlessly repeat their medical history thanks to a single patient record.

    Our Plan for Change promised to make our NHS fit for the future and that’s what we are getting on with delivering – fixing the foundations of our health service and making sure it will be there to look after us for decades to come.

    This is one major arm of the technological innovation at the heart of the 10 Year Health Plan launched today, which also includes introducing the single patient record, rolling out AI scribes to take notes for clinicians, using Generative AI to create the first draft of care plans, and introducing single sign-on for NHS software.

    The government’s 10 Year Health Plan sets out the fundamental reforms we will deliver to address the challenges facing the health service in the face of inherited underinvestment and neglect and the evolving needs of a modern society.

    Speaking at the launch of the plan today, the PM set out how the plan will deliver three key shifts to make the NHS fit for the future: hospital to community; analogue to digital; and sickness to prevention. Through fundamental reforms to rewire the NHS around these shifts, the plan will deliver the government’s pledge to cut waiting lists, improve healthcare for everyone wherever they live, and ensure the NHS is equipped to look after us for decades to come.

    This historic transformation will fundamentally change the future of healthcare, and it will be underpinned by a new Single Patient Record. This will finally bring together all of a patient’s medical records into one place, so patients do not have to repeat their medical history to each clinician they see. The Single Patient Record will make sure patients get seamless care no matter who they are being treated by in the NHS.

    Two-thirds of outpatient appointments – which currently cost in total £14 billion a year – will be replaced by automated information, digital advice, direct input from specialists and patient-initiated follow ups via the NHS App.

    Health and Social Care Secretary Wes Streeting said:

    The NHS App will become a doctor in your pocket, bringing our health service into the 21st century.

    Patients who can afford to pay for private healthcare can get instant advice, remote consultations with a doctor, and choose where and when their appointments will be. Our reforms will bring those services to every patient, regardless of their ability to pay.

    The 10 Year Health Plan will keep every patient fully informed of their healthcare and make using the NHS as easy and convenient as doing your banking or shopping online. It will deliver a fundamental shift in the way people access their care – from analogue to digital.

    A new Single Patient Record will bring an end to the frustration of repeating your medical history to different doctors. Instead, health and care professionals will have your record in one, handy place, so they can give you the best possible care.

    Through our Plan for Change, this Government is shifting care to digital and delivering an NHS which is truly fit for the future.

    The Government will make the Single Patient Record possible through new legislation that places a duty on every health and care provider to make the information they record about a patient, available in the Single Patient Record. 

    We will also legislate to give patients access to their record by default. From 2028, patients will be able to view it, securely, on the NHS App. Over time, that data will include not only medical records, but a personalised account of health risk, drawing from lifestyle, demographic and genomic data – helping catch problems early before they develop, and prevent people from poor health.

    The Single Patient Record is designed as National Critical Infrastructure. This means it will be built and maintained to meet the highest levels of security, equivalent to those used for the UK’s most vital systems, such as energy and transport networks. Health and care professionals treating and caring for a patient will have secure access to their record; patients can control who else they share it with and will have a robust audit trail of who has accessed their record.

    Sir Jim Mackey, Chief Executive at NHS England, said:

    The NHS App will be at the heart of the tech transformation we’re planning for the NHS to give people much more ownership of their healthcare – all from wherever they are at the tap of a screen. 

    Millions of us already have the app downloaded on our phones and the improvements we’re introducing as part of the 10 Year Health Plan, from booking appointments and speaking to clinicians online to seeing all your medical records in one place, will make the NHS App the digital front door to the NHS.

    A My Health tool will include real-time data from wearables, biometric sensors, or smart devices and will connect to relevant NHS data too – whether that is the results of recent tests at home or in a neighbourhood health centre. Wearables will be able to feed vital data into the App such as step count, heart rate and sleep quality, to provide tailored, personal health advice. The single patient record will have robust security controls.

    And a new My NHS GP tool will harness AI to direct people to the most appropriate and timely care they need. In some cases, it will advise on self-care – and help direct patients to well-evidenced consumer healthcare products. In others, it might direct to a community pharmacy, a neighbourhood health centre or to emergency care.

    Over the course of the plan, the features set to be developed through the NHS App will include the ability to:

    • My NHS GP – book a remote or face-to-face appointment, and receive personalised health advice using new AI tool
    • My Specialist – self-refer when clinically appropriate and leave a question for a specialist to answer
    • My Consult – connect with a clinician for a remote consultation
    • My Medicines – manage repeat prescriptions for delivery/collection and receive reminders
    • My Care – book and manage appointments, enrol in a clinical trial and access Single Patient Record
    • My Companion – get information about a health condition or procedure, and ask AI or a clinician a question
    • My Choices – find nearest pharmacy, the best providers, and leave feedback on services
    • My Vaccines – see when vaccines are up-to-date and book appointments to get them organised, and find travel vaccine info
    • My Health – bring data like blood pressure, heart rate, glucose levels together, and include real-time date from wearables or smart devices
    • My Children – a digitised red book, where parents can get advice and support for parents throughout childhood
    • My Carer – securely prove you are a carer, book appointments and talk to your loved one’s care team

    Caroline Abrahams, Charity Director at Age UK said: 

    It’s clear that technology is set to transform many aspects of our lives for the better over the next decade, including the delivery of healthcare and how we interact with the NHS.  

    The potential of the NHS App for example, is truly exciting, but we must also ensure that no one is left behind, including the many millions of older people who are not online and who often want and need to use more traditional means of communication, such as telephone and face to face.  

    The Government’s commitment to a digitally inclusive approach is really important in building public trust. It is also essential for the NHS’s promise of being equally accessible to continue to hold true in our increasingly digital world. The voluntary sector can certainly help by supporting people who are not digital natives and at Age UK we look forward to playing our part in this way.

    Julian David, CEO, techUK said: 

    We welcome today’s announcement as a landmark moment in the digital transformation of the NHS. The enhanced NHS App marks a bold step forward in putting citizens at the centre of their care, empowering patients with the same ease, accessibility, and control we expect from modern digital services. 

    Ongoing and meaningful engagement with the tech sector will be essential to delivering this transformation at scale. techUK will continue to work with government, NHS bodies, and our members to ensure this transformation is inclusive, secure, and future-ready.

    Boosting the App will not only benefit those managing their healthcare digitally but will also free up capacity in traditional healthcare routes and provide more access to care and appointments – freeing up phone lines so calls are answered on time and freeing up GPs’ capacity to offer face-to-face appointments.

    The government will aim to empower and upskill everyone to feel confident using the NHS App so that they can benefit from the additional access to services and the greater convenience the App will bring.

    The government will continue a partnership with libraries and other community organisations to set people up on the App, with show-and-tells to teach them how to use it and reap the benefits – this will be alongside ongoing work across government to improve access to technology and boost confidence among groups that have previously struggled.

    Children’s Commissioner Dame Rachel de Souza said: 

    The foundations for a healthy life are laid in childhood, so an ambition of creating the healthiest generation of children yet is an important step towards tackling the deep inequalities in their healthcare. 

    I have long called for a child’s ‘red book’ to be digitised, so this is a really welcome move. Taken with plans currently going through Parliament to develop a unique childhood identifier, will vastly improve how we protect and care for the most vulnerable children, with fewer in danger of falling through gaps in services. 

    Children tell me that when they need additional support, they want it in one place, so creating neighbourhood services that bring different professionals under one roof will make a practical difference in their lives, as will increasing access to GPs and dentists.

    Andrew Davies, Executive Director of Digital Health, Association of British HealthTech Industries (ABHI), said:  

    This transformation of the NHS App is an important milestone for healthcare delivery. A single, secure platform to access a range of services, digital tools and therapeutics, and connect devices will enable patients to more effectively engage with their care.  

    This plan showcases how HealthTech can drive a more efficient, personalised and accessible NHS, which in turn will free up time for clinicians to focus on care where it is needed most. Our members look forward to working with the NHS and Government to ensure these digital tools are implemented successfully and deliver meaningful benefits for patients across the country.

    Rachel Power, Chief Executive, the Patients Association said: 

    We welcome the government’s ambition to expand the NHS App as a central part of the 10 Year Health Plan. It could deliver the fundamental change patients have asked for in their interactions with the NHS, including the ability to manage their appointments, self-refer to vital services, and, in three years’ time, be able to view their health records through the Single Patient Record.  

    Our work with patients shows that those using the app often feel more in control and more satisfied with their care. But with nearly one in four still facing barriers to digital access, we must ensure that innovation doesn’t come at the cost of inclusion. If the NHS App is to become the digital front door, there must always be a real-world, accessible front door as well, with face-to-face or telephone options in place for those who need or want them. True progress means making the system work for everyone.

    Professor Habib Naqvi, chief executive of the NHS Race and Health Observatory, said: 

    We need a more focused and systematic approach to tackling health inequalities and addressing unacceptable variation in healthcare amongst our communities. A key enabler for this endeavour is digital tools. The transformation of the NHS App has the potential to lead to a more efficient, agile, and technologically enabled NHS – an NHS that will deliver care quicker and closer to where people live. The App will empower people and transform the way the public receives healthcare and engages with NHS services. The Observatory will help ensure this shift, in the way healthcare is provided, benefits all communities equitable.

    Jacob Lant, Chief Executive of National Voices said: 

    Technology is moving at a blistering pace, and quite simply the NHS has failed to keep up. So, the increased emphasis on the App and other digital services is welcome, especially where it can help the NHS meet expectations that have become common place in other sectors.  

    Critically the Plan recognises there will always be patients with more complex needs and commits to using the resource freed up by digital innovations to continue offering more traditional forms of access to those who need it.” 

    Richard Stubbs, Chair of the Health Innovation Network said:  

    It is right that the 10 Year Health Plan will establish the digital and data foundations of the NHS to realise the potential of health innovation in empowering patients, better supporting the NHS workforce and driving economic growth in every community.  

    The Health Innovation welcomes the focus on AI, expansion of the NHS App and the commitment to a single patient record, all of which will involve innovation partnerships to deliver change to local services, that will have a national impact. 

    The 15 health innovation networks across England, look ahead to operationalising these plans and working with our partners to find, test and implement at scale innovations that improve patient outcomes, increased NHS productivity and reduce waiting lists, while delivering economic growth. If we get this right we will not only greatly increase outcomes and satisfaction for our patients, but we will also boost our essential life sciences sector and, as our Defining the Size of the Health Innovation Prize report found, add up to £278bn a year to the UK economy.

    Updates to this page

    Published 3 July 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Ministers allocate £1.5 million from dormant bank accounts to charitable organisations03 July 2025 The Chief Minister and Minister for External Relations have made the first of three annual allocations of £1. 5 million from the Jersey Reclaim Fund which will be distributed to local charitable and… Read more

    Source: Channel Islands – Jersey

    03 July 2025

    The Chief Minister and Minister for External Relations have made the first of three annual allocations of £1.5 million from the Jersey Reclaim Fund which will be distributed to local charitable and voluntary organisations. 

    In October last year the Ministers announced their intention to provide a three-year funding package of at least £4.5m for 2025 – 2027 to provide sustained support to charities and voluntary organisations. 

    Established in 2017, the Jersey Reclaim Fund is administered by the government and consists of balances in dormant bank accounts in Jersey where contact has been lost with the customer for more than 15 years. 

    The funds will be allocated by the Jersey Community Foundation. In addition to supporting the community, charities can apply to use part of their grants to sustain or strengthen the resilience and sustainability of their organisation. 

    The Minister for External Relations, Deputy Ian Gorst, who has responsibility for financial services, said: “This allocation from the Jersey Reclaim Fund marks the beginning of a new phase of long-term support for our charitable and voluntary sector. By providing funding over the next three years, we are giving organisations the certainty they need to plan ahead, and also to invest in their own resilience in order to serve our Island community. I’d like to thank Jersey’s financial institutions for continuing to work with the Fund, and the Jersey Community Foundation for their crucial role in making sure these grants reach the organisations and recipients that need them most.”

    The 2025 funding will be allocated over two grant rounds, and decisions on the first round of funding have been approved, with successful applicants to be notified this week. A second round of funding will take place in the autumn. The wide range of applications received from diverse organisations highlights both the vital work of Jersey’s charitable sector and the clear need for this funding at this time. 

    Anna Terry, CEO of the Jersey Community Foundation, said: “We’re delighted that the Government of Jersey has not only allocated £1.5 million from dormant bank accounts to the Jersey Community Foundation this year, but also committed to a three-year partnership. This long-term support enables us to offer multi-year grants, giving charitable organisations the stability they need to plan and deliver lasting impact. We’re incredibly grateful for the government’s trust in us to manage and distribute these funds, and we look forward to continuing to support the vital work being done across the Island.” 

    For information on how to apply for a grant, visit: Jersey Community Foundation​.​

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Annual Report celebrates Significant Progress in key priorities

    Source: City of Derby

    Derby City Council’s latest Annual Report will be presented to Cabinet on Wednesday 9 July, showcasing a year of achievements across the city’s five priority themes: Green, Growth, Resilient, Vibrant, and Working Smarter.

    The report, covering performance and delivery from April 2024 to March 2025, highlights key successes that are making Derby a more sustainable, prosperous, and vibrant place for our residents.

    We’ve made big strides in our commitment to become a better-connected, greener city. Our Transforming Cities programme has championed efficient and active travel, delivering new and renewed cycle pathways, traffic signals and carriageways. We’ve also upgraded 5,560 streetlights to energy-efficient LEDs, saving an estimated 329 tonnes of carbon emissions annually.

    Our green spaces continue to be high quality places for our residents to enjoy, with six city parks retaining the prestigious Green Flag status. Working with Derbyshire Wildlife Trust, we’ve also reintroduced cattle to three of our locations in the winter months to improve biodiversity and keep them in the best condition.

    The Growth theme has seen significant support for local businesses and the creation of future job opportunities. Aided by the UK Shared Prosperity Fund we have worked with partners to support 761 Derby businesses, while Council interventions have generated an impressive £30.7m of investment in the city.

    Investing in Derby’s future workforce is a priority, as demonstrated by the Derby Promise initiative. We’ve seen over 3,100 individuals enrolled in community and skills programme delivered by the Derby Adult Learning Service, continuing our focus on lifelong learning and raising aspirations and opportunities for our people of all ages in Derby.

    Looking ahead, we’re also actively collaborating with the Great British Railways Transition Team and the East Midland’s Mayor to develop a shared vision for a Derby Rail Campus, boosting the city’s vital rail sector.

    Over the past year, culture has been placed firmly at the heart of our increasingly vibrant city. Spring 2025 saw the opening of two major leisure and culture destinations: Vaillant Live and Derby Market Hall. The city also hosted a diverse mix of events, including St George’s Day and Festive Derby, and the record-breaking Darley Park Weekender, which generated over £1m for the local economy.

    Under the Resilient theme, the Council has focused on supporting residents to get on in life and ensuring the right care is available, at the right time. In 2024/25, some of our most vulnerable people were supported to remain in a place they call home. This includes 86.6% of adults with a Learning Disability, 91.6% of adults in contact with secondary mental health services, and 79.5% of older people within 91 days of being discharged from hospital following rehabilitation.

    Thanks to collaborative efforts with our partners, 45,000 visits were made to our Family Hubs, where a range of services are provided. This contributed to a reduction in the number of families assessed as ‘child in need’ and a decrease in the number of children in care.

    Councillor Nadine Peatfield, Leader of Derby City Council, said:

    2024/25 was a very busy period for our city, and we saw big strides made in our journey to make Derby a city we can all be proud of. While the hard work continues, this report shows that we are heading in the right direction.

    This is also a great opportunity to recognise the commitment and achievement of our colleagues in 2024/25. They continually go above and beyond to deliver the best outcomes for the people of Derby, despite the ongoing challenges facing local government. I want to place on record my thanks to them for all they have done and will continue to do as we press on into 2025/26.

    MIL OSI United Kingdom

  • MIL-OSI Russia: IMF Executive Board Completes the Fourth Review Under the Extended Fund Facility with Sri Lanka

    Source: IMF – News in Russian

    July 3, 2025

    • The IMF Executive Board completed the Fourth Review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with immediate access to SDR 254 million (about US$350 million) to support Sri Lanka’s economic policies and reforms.
    • Performance under the program has been generally strong with some implementation risks being addressed. Prior actions on restoring cost-recovery electricity pricing for the rest of 2025 and operationalizing automatic electricity tariff adjustment were met. All quantitative targets for end-March 2025, except the stock of expenditure arrears, were met. All structural benchmarks due by end-May 2025 were either met or implemented with delay. 2025Q2 inflation fell below the lower outer band of the Monetary Policy Consultation Clause largely due to energy prices. Debt restructuring is nearly complete.
    • The economic outlook remains positive. However, global trade policy uncertainties pose significant risks to Sri Lanka’s macroeconomic and social stability. If these shocks materialize, the authorities will work closely with staff to assess the impact and formulate policy responses within the contours of the program.

    Washington, DC: On July 1, 2025, the Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR254 million (about US$350 million). This brings the total IMF financial support disbursed so far to SDR1.27 billion (about US$1.74 billion).[1]

    The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023 (see Press Release No. 23/79) in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The program supports Sri Lanka’s efforts to durably restore macroeconomic stability by (i) restoring fiscal and debt sustainability while protecting the vulnerable, (ii) safeguarding price and financial sector stability, (iii) rebuilding external buffers, (iv) strengthening governance and reducing corruption vulnerabilities, and (v) enhancing growth-oriented structural reforms.

    The Executive Board reviewed a report from the Managing Director on the inadvertent provision of inaccurate data by Sri Lanka on the ceiling of the central government’s stock of expenditure arrears. The under-reporting of the arrears stock identified through a detailed analysis of budget line appropriations gave rise to noncomplying purchases and a breach of Sri Lanka’s obligations under Article VIII, Section 5. The authorities have worked openly and closely with IMF staff to provide corrected data and have undertaken several corrective measures related to the clearing and reporting of arrears. They are also committed to improving reporting and data verification practices going forward in line with IMF technical assistance. Based on these actions, the Executive Board approved the authorities’ request for waivers of non-observance.

    The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    Following the Executive Board’s discussion, Mr. Kenji Okamura, Deputy Managing Director and Acting Chair, issued the following statement:

    “Sri Lanka’s performance under the Fund-supported arrangement is generally strong with some implementation risks being addressed. Reforms are bearing fruit, with economic growth strengthening, inflation remaining low, reserves accumulating, and fiscal revenues improving. The debt restructuring process is nearing completion. The economic outlook is positive, but downside risks have increased. In case shocks materialize, the authorities should work closely with the Fund to assess the impact and formulate policy responses within the contours of the program. Steadfast program implementation will be crucial.

    “Sustained revenue mobilization is critical to restoring fiscal sustainability and creating fiscal space. Strengthening tax exemption frameworks, boosting tax compliance, and enhancing public financial management to ensure effective arrears management are important. Further improving the coverage and targeting of social support to the vulnerable is also necessary. A smoother execution of capital spending within the fiscal envelope would help foster medium-term growth. The restoration of cost-recovery electricity pricing and the operationalization of automatic electricity tariffs adjustment are commendable and should be maintained to contain fiscal risks.

    “The progress to advance the restructuring of Sri Lanka’s debt is noteworthy. Timely finalization of bilateral agreements with remaining official and commercial creditors is a priority.

    “Monetary policy should continue to prioritize price stability, supported by sustained commitment to eliminate monetary financing and safeguard central bank independence. Greater exchange rate flexibility and gradually phasing out administrative balance of payments measures remain critical to rebuild external buffers and economic resilience.

    “Resolving non-performing loans, strengthening governance and oversight of state-owned banks, and improving the insolvency and resolution frameworks are important to revive credit growth and support private sector development.

    “Structural reforms are crucial to unlock Sri Lanka’s potential. The government should continue to implement governance reforms and advance trade-facilitation reforms to boost export growth and diversification.”

    Following the Executive Board’s discussion, Mr. Kenji Okamura, Deputy Managing Director and Acting Chair, issued the following statement:

    “The Executive Board of the International Monetary Fund (IMF) reviewed noncomplying purchases made by Sri Lanka under the 2023 Extended Arrangement under the Extended Fund Facility (“EFF”), as well as a breach of obligations under Article VIII, Section 5. The noncomplying purchases arose as a result of the provision of inaccurate information by the authorities on the stock of expenditure arrears at the first, second, and third reviews under the EFF.

    “The inaccuracies in information provided to the IMF were inadvertent and arose because of weaknesses in the timely reporting of arrears by line ministries to the Ministry of Finance, as well as a misunderstanding by the authorities of the definition of “arrears” under the Technical Memorandum of Understanding. 

    “The Executive Board positively considered the authorities’ corrective actions, the fact that arrears repayments will be accommodated within the existing fiscal envelope, and the authorities’ commitment to improving public financial management procedures in line with the new PFM law, to reduce the risk of accruing arrears or inaccurate reporting of information going forward. In view of the above, the Executive Board agreed to grant waivers for the nonobservances of the quantitative performance criterion that gave rise to the noncomplying purchases and decided not to require further action in connection with the breach of obligations under Article VIII, Section 5.”

    Sri Lanka: Selected Economic Indicators 2024-2030

                                                                  

     

    2024

     

    2025

    2026

    2027

    Est.

    Projections

               

    GDP and inflation (in percent)

               

    Real GDP

    5.0

    3.5

    3.1

    3.1

    Inflation (average) 1/

    1.2

    3.3

    5.2

    5.0

    Inflation (end-of-period) 1/

    -1.5

    8.9

    5.2

    5.0

    GDP Deflator growth

    3.8

    3.6

    5.3

    5.1

    Nominal GDP growth

    9.0

    7.1

    8.5

    8.4

     

    Savings and investment (in percent of GDP)

               

    National savings

    25.2

    21.8

    22.2

    22.9

      Government

    -3.2

    -2.0

    -0.8

    -0.1

      Private

    28.4

    23.8

    23.0

    23.0

    National investment

    27.0

    21.8

    22.1

    22.5

      Government

    5.0

    4.3

    4.5

    4.6

      Private

    21.9

    17.4

    17.6

    17.9

    Savings-Investment balance

    -1.8

    0.0

    0.1

    0.4

      Government

    -8.2

    -6.3

    -5.3

    -4.6

      Private

    6.4

    6.4

    5.4

    5.1

     

    Public finance (in percent of GDP)

               

    Revenue and grants

    13.7

    15.0

    15.2

    15.3

    Expenditure

    19.3

    20.5

    19.7

    19.2

    Primary balance

    2.2

    2.3

    2.3

    2.3

    Central government balance

    -5.6

    -5.4

    -4.5

    -3.9

    Central government gross financing needs

    21.9

    22.6

    19.6

    14.9

    Central government debt

    100.5

    105.1

    103.4

    100.2

    Public debt 2/

    105.2

    109.6

    107.4

    103.6

     

    Money and credit (percent change, end of period)

    Reserve money

    15.8

    6.5

    8.5

    8.4

    Broad money

    8.6

    6.5

    8.5

    8.4

    Domestic credit

    4.0

    4.5

    3.0

    3.8

    Credit to private sector

    10.7

    9.4

    9.2

    9.3

    Credit to private sector (adjusted for inflation)

    9.5

    6.1

    4.1

    4.3

    Credit to central government and public corporations

    -1.4

    0.0

    -3.3

    -2.5

     

    Balance of Payments (in millions of U.S. dollars)

    Exports

    12,772

    12,880

    13,490

    14,194

    Imports

    -18,828

    -21,363

    -22,447

    -23,578

    Current account balance

    1,746

    -48

    -77

    -439

    Current account balance (in percent of GDP)

    1.8

    0.0

    -0.1

    -0.4

    Current account balance net of interest (in percent of GDP)

    3.7

    2.1

    2.0

    1.7

    Export value growth (percent)

    7.2

    0.8

    4.7

    5.2

    Import value growth (percent)

    12.0

    13.5

    5.1

    5.0

               

    Gross official reserves (end of period)

               

    In millions of U.S. dollars

    6,122

    7,255

    9,273

    12,974

    In months of prospective imports of goods & services

    3.0

    3.3

    4.0

    5.4

    In percent of ARA composite metric

    50.5

    60.3

    75.5

    100.0

    Usable Gross official reserves (end of period) 3/

               

    In millions of U.S. dollars

    4,686

    7,255

    9,273

    12,974

    In months of prospective imports of goods & services

    2.3

    3.3

    4.0

    5.4

    In percent of ARA composite metric

    38.6

    60.3

    75.5

    100.0

    External debt (public and private)

    In billions of U.S. dollars

    53.9

    54.6

    56.3

    59.9

    As a percent of GDP

    54.4

    55.1

    58.6

    59.4

     

    Memorandum items:

    Nominal GDP (in billions of rupees)

    29,899

    32,036

    34,754

    37,664

    Exchange Rate (period average)

    302.0

    Exchange Rate (end of period)

    293.0

    Sources: Data provided by the Sri Lankan authorities; and IMF staff estimates.

    1/ Colombo CPI.

    2/ Comprising central government debt, publicly guaranteed debt, and CBSL external liabilities (i.e., Fund credit outstanding and international currency swap arrangements). The debt statistics currently assume the external debt restructuring to have been completed at end 2023.

    3/ Excluding PBOC swap ($1.4bn in 2022) which becomes usable once GIR rise above 3 months of previous year’s import cover.

                                     

    [1] SDR figures are converted at the market rate of U.S. dollar per SDR on the day of the Board approval.

    [2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The staff report will be shortly published on the www.imf.org/srilanka page.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/07/02/pr24235-sri-lanka-imf-executive-board-completes-the-fourth-review-under-the-eff

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI United Kingdom: £150m Capital Grants offer returns to help farmers boost profits

    Source: United Kingdom – Executive Government & Departments

    Press release

    £150m Capital Grants offer returns to help farmers boost profits

    The government is making a substantial investment in the future of farming, supporting cleaner rivers, healthier soils, and more resilient landscapes.

    Thousands of farmers will benefit from £150 million in new funding as the government opens a new round of its flagship Capital Grants offer, supporting sustainable food production and environmental improvement. 

    The offer funds a wide range of on-farm projects – from tree planting and flood prevention to improved slurry storage and water filtration – helping farmers boost profitability while protecting the environment. 

    Last year alone, Capital Grants helped plant over 4,000 miles of hedgerows and upgrade slurry systems to keep our rivers clean – real, tangible improvements for farming and the environment. 

    Environment Secretary Steve Reed said: 

    British farmers work tirelessly to feed the nation and look after our countryside. This major investment will give them the tools to cut pollution, restore nature, and grow their businesses. 

    It forms part of the record £11.8 billion we’ve committed to sustainable farming during this Parliament – boosting food security, supporting rural growth, and protecting the environment. 

    The announcement is the latest in a series of steps taken by the government to support the farming industry. These include slashing costs for food producers by cutting red tape on exports to the EU, appointing former NFU president Baroness Minette Batters to recommend reforms to boost farmers’ profits, and ensuring farmers get a bigger share of food contracts across our schools, hospitals, and prisons. 

    Farmers and land managers are now able to apply for a total of 78 items, ranging from supporting natural flood management projects to improving water quality on farms under this new round of the Capital Grants offer. Four new items have been added including assessing woodland condition, creating wildfire management plans, repairing drystone walls and hosting educational visits.  

    Changes are also being introduced to ensure that more farm businesses can access these grants – making it fairer for farmers by setting funding limits that maximise the number of farms benefiting, while enabling Defra to manage budgets more effectively. This includes funding limits to four of the six groups of capital items in this Capital Grants offer. An application can include items from each of the six groups. The funding limit for four of the groups is:   

    • £25,000 maximum for each of the following three groups: water quality, air quality, and natural flood management 

    • £35,000 maximum for the group covering boundaries, trees, and orchards 

    Defra will also listen to feedback from farmers and use it to improve the offer ahead of the next round, which we plan to open in 2026. 

    This comes as the Environment Secretary and Farming Minister head to the Groundswell Show to discuss the new Capital Grants launch. More details about the reformed SFI scheme will be published this Summer. 

    This is part of the government’s wider Plan for Change to grow the rural economy, support our farmers and boost Britain’s food security.

    Updates to this page

    Published 3 July 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: PM speech at the launch of the 10 Year Health Plan: 3 July 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    PM speech at the launch of the 10 Year Health Plan: 3 July 2025

    Prime Minister Keir Starmer’s speech at the launch of the 10 Year Health Plan.

    Thank you Rachel, thank you Wes. And thank you Denyse. Come and sit down with us. Denyse’s story is fantastic. Because she works here. She lives in this borough and she uses the services here. 

    What a great testament that is. And Denyse, thank you for your introduction and thank you for your words. 

    It’s a privilege to be here with you in Stratford. I’ve seen the work that you have been doing this morning. And I’m sorry for interrupting your work.  

    I do understand how hard it is. My mum worked in the NHS. She was a nurse, a proud nurse. My sister worked in the NHS and my wife still works in the NHS in one of the big London hospitals. So I do understand what you do, how you do it, what you put in and why you do it. 

    So let me start by saying a big thank you to all of you for what you do, and if I may, through you, to say thank you to all NHS staff right across the country who do what they do as public servants by treating and caring for other people.

    Thank you also for welcoming us here. To your Neighbourhood Health Centre. Because it’s buildings like this here that represent the future of the NHS.

    As I’ve just had the chance to go around and see some of the work that’s going on here. The 24 teams that you have got working on dentistry. I’m really pleased to see that you don’t need an appointment, you can walk in. You have got children and families up there on the next floor having their teeth done. That’s hugely important. 

    And that’s what a Neighbourhood Health Service can do working in partnership with the people it serves. And Denyse you are the embodiment of that.  

    Power and control in their hands. Care closer to their community. Services organised around their lives.   

    But look – before I say a bit more about the future in a minute. But it is important that we go back a year to the NHS left by the last government. With record waiting lists. The lowest ever satisfaction. I know the toll that takes on staff who work so hard. 

    100,000 children waiting more than six hours in A&E. 

    Now – I’m not going to stand here and say that everything is perfect now. We have so much work to do and we will do it. 

    But let’s be under absolutely no illusions. Because of the fair choices we made, the tough [political content redacted] decisions we made the future already looks better for our NHS. 

    That’s the story of this Government in a nutshell. With breakfast clubs, hugely important for children coming into schools so they are ready to learn.

    Potholes across the country – filled. Fuel duty – frozen. Four interest rate cuts, hugely important for mortgage holders.

    Setting up Great British energy, levelling up workers’ rights, record investment in affordable housing, infrastructure the length and breadth of our country. 

    It’s all down to the foundation we laid this year. All down to the path of renewal that we chose. 

    The decisions made by the Chancellor, by Rachel Reeves which mean we can invest record amounts in the NHS.  

    Already over 6000 mental health workers recruited.  

    1700 new GPs. 

    170 Community Diagnostic Centres, really important, already open. 

    New surgical hubs, new mental health units, new ambulance sites. Record investment – right across the system. 

    And because of all that the results are crystal clear. 

    At the last election a year ago, we promised two million extra appointments in the NHS in the first year of [political content redacted] government. 

    We have now delivered four million extra appointments and that’s thanks to your hard work and that of your colleagues. 

    4 million. That’s a record amount for a single year ever. And I want to thank you for the part that you have played in that. 

    That is what change looks like.

    A promise made and a promised delivered. 

    And turning those statistics into the human is really important. So let me tell you about Jane. 

    At Christmas, she was taken to hospital with back pain. 

    And the diagnosis was not good. She needed her gallbladder removed. Jane asked as you can imagine “how long will I have to wait”. 

    And they said – “I’m sorry, but at the moment it could take up to ten months.” 

    Yet – because we have speeded up electives, because we have speeded up appointments, by May – she was offered a private appointment, paid for by the NHS, as part of our plan. 

    And now Jane is pain free. 

    Five months – not ten. 

    She’s got five months back – free from pain, free from anxiety and in a sense her life is no longer on hold. 

    That’s what change looks like in human terms. [Political content redacted.] 

    But we have to keep going. 

    We are fixing the foundations. We made choices no other government would have made and we are starting to repair the damage done to the NHS and public health, through Covid and austerity. 

    But reform isn’t just about fixing problems. It’s also about seizing opportunities. 

    And the way I see it – there is an opportunity here. 

    Because the NHS is at a turning point in its history. 

    We’re an older society now. Disease has changed. 

    Conditions are chronic, they are long-term, they need to be managed. And that means we need to reform the NHS to make it fit for the future. 

    With the technology that is available to us now, we have an unprecedented chance to do that to make care better. 

    To transform the relationship between people and the state. To give patients more power and control. And this is about fairness. 

    Millions of people across Britain no longer feel they get a fair deal. 

    And it’s starting to affect the pride, the hope, the optimism they have in this great country. 

    Our job is to change that. And the NHS is a huge part of it. I mean – for 77 years this weekend the NHS has been an embodiment if you like of British pride, hope, that basic sense of fairness and decency. 

    77 years – of everyone paying in, working hard, doing the right thing, secure in the knowledge, that if they or their family needs it, the NHS will be there for them. 

    In ten years’ time – when this plan has run its course, I want people to say this was the moment, this was the government that secured those values for the future. 

    And look – when people are uncertain about the deal they are getting from this country, what fairer way is there to respond to that than by giving them more control. 

    By partnering with them, to build an NHS that is fit to face the future. 

    That’s what this plan that we are launching today will do. 

    And it will do so in three ways. 

    Three shifts that will transform healthcare in this country. 

    First – we will shift the NHS away from being only a sickness service to a health service that is genuinely preventative in the first place, prevents disease in the first place.  

    That means a stronger focus on vaccination, on screening, early diagnosis.  

    Things like innovative weight loss services – available in pharmacies. 

    Working with major food businesses – to make their products healthier.

    Better mental health support, particularly for our young people. And starting with children aged sixteen this year we will raise the first entirely smoke-free generation. 

    Second – we will shift the NHS away from being a hospital-dominated service to being a community, neighbourhood health service. 

    You can see why we chose to come here. Places like this are the future of our NHS. You don’t have to book an appointment. You can just walk in. There are families here and people who use the services live in this area. 

    Now of course hospitals will always be important – for acute services especially.  

    But I say it again – disease has changed. And we must change with it. 

    And not only can we do that. We can do it in a way that improves care and convenience for millions of people. 

    So just imagining nurses, doctors, pharmacists, dentists, carers, health visitors all under one roof.  

    But also, services like debt advice, employment support, smoking cessation: preventative services which we know are so crucial for a healthy life. 

    Now that is an exciting prospect.  

    You know – the idea that the future of healthcare is no longer defined by top-down citadels of the central state.

    But is instead here – in your home, in your community, in your hands, that’s an inspiring vision of change. 

    It will bring the state and the people it serves into a partnership on something we all care deeply about. 

    But more importantly. It means a future where we have better GP access, no more 8am scrambles, more dental care for your children, better care on your doorstep and a Neighbourhood Health Centres like this in our coastal towns, in rural counties, in every community across the country. Every community across the country. 

    Finally – the third shift from the analogue NHS we have at the moment to a truly digital health service.

    A health service capable of seizing the enormous opportunities before us in science and technology.  

    In genomics, in artificial intelligence, advanced robotics. 

    Look – I have seen in your everyday lives what this can do.

    I’ve spoken to stroke patients who have had their lives saved by technology and AI because it could find the blood clot in their brain in milliseconds, giving them just enough time to be operated on and saving their lives. 

    So this plan – backs technology to deliver. Because it can and will save thousands of lives. But it’s not just about saving lives.

    AI and technology is an opportunity to make services more human. 

    That always sounds counterintuitive, but it does because what it gives all of you and all of your colleagues is more time to care, more time to do the things that only human beings can do which is that care that is needed, the professional skills that you have. So this will make it a more human service as well. 

    It gives you more time to care, to do all the things that brought you into the NHS in the first place.  

    And it’s not just cutting-edge technology either. 

    Technology like the phones in the pockets of everyone in this room we can use that too. 

    Now, you won’t hear this often in a speech – but look at your phones. But look at your apps! Seriously! Because what you see on that screen is that entire industries have reorganised around apps. 

    Retail, transport, finance, weather – you name it. 

    Why can’t we do that with health? 

    Why not the NHS app on your phone? 

    Making use of the same dynamic force to cut waiting lists at your hospital. 

    To make it easier for you to get a GP appointment, to give you more control over our health. 

    There’s no good reason why we can’t. So I can announce today, as part of this plan, that we can, and we will transform the NHS App so that it becomes an indispensable part of life for everyone. 

    It will become – as technology develops – like having a doctor in your pocket. 

    Providing you with 24 hours advice, seven days a week.

    An NHS that really is always there when you need it. 

    Booking appointments at your convenience, ordering your prescriptions, guiding you to local charities or businesses that can improve your wellbeing.  

    And perhaps most importantly, holding all healthcare data in an easily accessible, single patient record.

    Don’t underestimate how important that is. 

    I’ve been up to Alder Hey hospital in Liverpool many times, it’s a children’s hospital, it’s a brilliant hospital. 

    One of the times I was there I was on the ward, particularly young children were having heart surgery. 

    I have to tell you it was really humbling both seeing what the children were going through but also what the professional staff were doing. 

    When I went into a particular ward, I saw a two year old boy who had just had major heart surgery, it’s an incredible thing to see. 

    And I spoke to his parents who were at his bedside throughout. 

    One of the things they raised with me was the distress they felt that they had to go through every single condition that he had over and over again, whether they went to Blackpool, in Liverpool, at Alder Hey. 

    They were actually welling up telling me it’s a really difficult story for us, this is really hard. And we don’t want to keep having to repeat it, why can’t it be recorded the first time around? 

    I will remember their faces and the story they told me for a very long time. 

    But we can fix that. We can make it more accessible. We can bring this together in one place. 

    And there are other examples as well. That red book that every child gets. Why can’t that be digital? There’s no good reason. 

    And so that’s exactly what we’ll do. 

    We will turn this app into a new front door for the entire NHS. 

    A reformed, modernised and renewed – Neighbourhood Health Service. 

    That is the plan we launch today.    

    That is the change we will deliver. 

    [Political content redacted.] 

    The NHS on its feet. Facing the future. Delivering fairness and security for working people. 

    Thank you.

    Updates to this page

    Published 3 July 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: More than 32 million annuals have been planted in the capital’s flowerbeds

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Specialists from the city economy complex have planted more than 32 million annuals in flowerbeds located in courtyards, parks and squares, on squares and embankments, as well as along key highways and central streets of the capital. In total, more than 120 different types of flowers have been planted, including petunia, begonia, coleus, marigold and cineraria. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “We have now begun planting perennials. Thanks to the phased planting of plants, the city’s flower beds will delight Muscovites and guests of the capital until late autumn,” noted Pyotr Biryukov.

    When growing plants in urban greenhouses, modern technologies are used, such as an automated seeding complex, light and fogging systems, and drip irrigation. This allows you to create a special microclimate and grow strong and healthy plants.

    Additionally, specialists harden off seedlings, thanks to which the plants feel comfortable in flowerbeds under different weather conditions.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/156228073/

    MIL OSI Russia News

  • MIL-OSI Russia: 140 Innovative Ideas: Polytech Becomes a Platform for Tech Startups

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The Polytechnic University hosted a large-scale Forum of Science and Technological Entrepreneurship, organized as part of the Gazprom Neft initiative Vector of the Future with the support of the autonomous non-profit organization National Priorities.

    The goal of the forum, which is being held for the third year, is to develop applied science, popularize engineering professions, build a trusting dialogue between scientists and business representatives, and involve young specialists and technology teams in entrepreneurial activities.

    At the opening, guests were greeted by Vice-Rector for Research at SPbPU Yuri Fomin and Director of the Gazprom Neft Open Innovations Program Maxim Bardin.

    Yuri Fomin noted that the event touches on the very important topic of technological entrepreneurship for the country and the region, which was also raised at the recently held St. Petersburg International Economic Forum.

    “At many sessions of the SPIEF, they discussed what technological entrepreneurship is, whether it should exist within the university perimeter, or in the external infrastructure,” shared Yuri Vladimirovich. “Opinions varied, but all experts agreed that technological entrepreneurship is important both for universities and for the economy as a whole, so it needs to be developed and supported.”

    Maxim Bardin thanked the guests for participating in the forum, and the Polytechnic University for providing the venue and active support for student scientific entrepreneurship.

    This year, the forum was held in a new format. The traditional “Entrepreneurship” track was dedicated to Gazprom Neft’s Industrix acceleration program, aimed at developing technology startups and innovative solutions for the oil and gas industry. This year, program participants presented experts with 140 innovative developments in the areas of capital construction and industrial safety, electric power, production, drilling and downhole operations, geological exploration, geology and development of oil and gas fields, gas and pipeline transport. The defense of the projects attracted the attention of many participants, because the experts’ assessment determines whether an idea will develop into a startup.

    The Science track included several events. Visitors to the interactive zone “12 Evil Science Viewers” discussed popular science content with representatives of the National Priorities ANO.

    Representatives of Gazpromneft – Industrial Innovations acted as experts in the open session with case studies “The Path of Innovation: from Laboratory Research to Industrial Implementation”.

    Also on the main stage of the forum in the lobby of the Research Building of Technopolis Polytech, an open dialogue with the head of the department of technological development of Gazprom Neft Bogdan Kostyuk and a meetup “From the laboratory to Forbes: how young scientists built a technology business” with the co-founder of the express delivery company for chemical reagents AppScience Maxim Pustovalov took place.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI Russia: “Steel Camels” are gaining momentum on the Eurasian Continent

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    BEIJING, July 3 (Xinhua) — The Silk Road served as a channel for trade and economic interaction between the East and West, and currently China-Europe freight trains provide uninterrupted freight traffic on the Eurasian continent.

    On June 10 this year, China-Europe freight train 75052 departed from Jiaozhou Station in Qingdao City, Shandong Province, East China.

    Thus, the total number of China-Europe freight train departures has exceeded 110,000, and the value of the cargo they transported has exceeded 450 billion US dollars. For 61 consecutive months, the monthly number of trips has consistently exceeded a thousand.

    If two thousand years ago camel caravans paved the Silk Road, today the “steel dragon” rushes along the golden transport corridor Asia-Europe, demonstrating the dynamics of openness. China-Europe freight trains are becoming a stable driver of high-quality development.

    INCREASING INTENSITY

    Between 2016 and 2024, the annual number of China-Europe freight train departures increased from 1,702 to 19,000, and the value of goods carried increased from an average of US$8 billion to US$66.4 billion.

    Three established route lines, namely western, central and eastern, already pass through China. China-Europe train services have been launched in 128 cities in China, and the number of regular routes on a fixed schedule, which start from the coastal ports of Dalian, Tianjin, Qingdao, Lianyungang and other harbors, has reached 28.

    Outside China, the diversified development of this transport channel is facilitated by the countries located along its routes. In particular, trains reach 229 cities in 26 European countries and more than 100 cities in 11 Asian countries.

    In the western direction, new routes were opened in the framework of international rail-sea combined transportation through the Baltic, Caspian and Black Seas. In the eastern direction, uninterrupted connections were ensured with the new international land-sea trade corridor, the golden waterway of the Yangtze River and seaports, which created new transport corridors in the framework of multimodal rail-sea transportation between East Asia, Southeast Asia and Europe.

    INCREASING EFFICIENCY

    Freight train 75052, which departed on June 10, carried LCD displays, refrigerators and other household appliances. Over the past 10 years, there has been an evolution of product names: from clothing and footwear to the “new three” (electric vehicles, lithium batteries, solar panels), household appliances and high-tech equipment.

    The growing diversity and cost of cargo require increased transportation efficiency. In recent years, given the specifics of transportation organization, the maximum number of cars in one China-Europe train running at 120 km/h has been increased to 55, and the maximum gross train weight to 3,000 tons. Close cooperation with customs authorities has made it possible to optimize the accelerated customs clearance scheme for trains, reducing customs clearance time from half a day to less than 30 minutes, with the fastest clearance taking only a few minutes.

    China Railway Container Transport (CRCT) has set up subsidiaries in Kazakhstan, Germany and other countries, deepening cooperation with local railway authorities and logistics companies to develop bilateral cargo flows.

    DEEPENING INTEGRATION

    Thanks to the new logistics corridors opened by China-Europe freight trains for the interior regions of Asia and Europe, the countries along the route are actively integrating into the open world economy. Spanish wine, Dutch cheese, Thai durian, Laotian bananas have become everyday goods for the Chinese. Electronics, electric cars and everyday goods from China reach Europe faster and at more attractive prices.

    The rise of industry and the development of China-Europe freight trains go hand in hand. For example, the Ereenhot checkpoint in the Inner Mongolia Autonomous Region is currently accelerating the transformation of a transit economy into an industrial economy. It has formed a cross-border logistics network that attracts industrial clusters in the production of auto parts, woodworking, etc.

    “China-Europe freight trains with high efficiency, stability and environmental friendliness are changing the architecture of regional economies,” said Li Tiegan, a professor at Shandong University.

    The ‘steel camels’ demonstrate China’s commitment to building an open global economy and promoting common prosperity. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: Mongolia’s foreign exchange reserves rose to US$5.2 billion by the end of June 2025

    Translation. Region: Russian Federal

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

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

    ULAN BATOR, July 3 (Xinhua) — Mongolia’s foreign exchange reserves have risen to 5.2 billion U.S. dollars by the end of June 2025, local media reported on Thursday, citing data from the country’s central bank.

    This figure increased by 0.24 percent compared to the previous month and decreased by 5.51 percent since the beginning of the year, the official report says.

    According to analysts, an increase in foreign exchange reserves is a guarantee of economic stability and helps to improve the country’s credit rating, having a positive impact on the financial performance of the private sector, as well as strengthening public confidence in the national currency.

    The Central Bank of Mongolia is expected to increase its gold and foreign exchange reserves to $6.5 billion in the medium term. –0–

    MIL OSI Russia News

  • MIL-OSI Asia-Pac: Keynote speech by Permanent Secretary for Financial Services and the Treasury (Financial Services) at Hong Kong Exchanges and Clearing Limited’s Integrated Fund Platform Order Routing Service Launch Ceremony (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the keynote speech by the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan, at the Hong Kong Exchanges and Clearing Limited (HKEX)’s Integrated Fund Platform Order Routing Service Launch Ceremony today (July 3):
     
    Bonnie (Chief Executive Officer of the HKEX, Ms Bonnie Chan), distinguished guests, ladies and gentlemen,
     
         It is my great pleasure to join you all today at the Launch Ceremony of the Order Routing Service under the Integrated Fund Platform operated by the HKEX.
     
         Digital infrastructure is key to the operation and development of the modern-day capital market. Today’s launch ceremony signifies a solid step in the construction of a market-wide infrastructure for our fund management industry leveraging the advancement in technology.
     
         For the first six months of this year – 2025, the Hong Kong stock market’s daily turnover reached HK$240 billion on average, up 118 per cent year on year. We also saw 44 IPOs (initial public offerings) raising a total of HK$107 billion, surpassing the annual figure of 2024 by 22 per cent and assuming a leading position in the world’s IPO fund raised during the same period this year.
     
         Fund flows in the collective investment scheme and asset management space are equally active. As of end-March 2025, for Hong Kong-domiciled funds, an overall net inflow of about HK$343 billion was recorded over the past 12 months, representing an increase of 285 per cent year on year. The AUM (assets under management) surged by close to 40 per cent, and the number of licensed corporations providing asset management services rose by about 5 per cent.
     
         As our capital market continues to grow in depth and breadth, we need to maintain the robustness and nimbleness of our backbone infrastructure to keep up with the demand and cater for future development. Legislative framework and regulatory regimes also have to be refreshed from time to time in order to bring out the growth potential in the marketplace and remove bottlenecks and inefficiencies that may exist.
     
         For example, to enrich the suite of products that can be made available to the market, the Government has amended the Securities and Futures Ordinance and enacted a new piece of legislation to introduce the open-ended fund company or OFC and limited partnership fund or LPF regimes to enable funds to set up in company and limited partnership forms. The diversified fund structures have been well received. As of the end of May this year, over 560 OFCs have been set up, and nearly 1 150 LPFs have been established in Hong Kong.
     
         In addition, we keep enhancing our connectivity with the Mainland market. For example, since the launch of the Cross-boundary Wealth Management Connect (WMC) 2.0 in the Guangdong-Hong Kong-Macao Greater Bay Area in February 2024 which, among other enhancement measures, allowed the investment quota per investor to go up to RMB3 million, there has been a significant increase in the number of investors and amount of cross-boundary fund remittances. As of end-May 2025, some 158 000 individual investors participated in the WMC. Cross-boundary fund remittances amounted to over RMB115 billion, around seven times increase compared with WMC 1.0.
     
         We are also expanding our international network. Two ETFs (exchange-traded funds) tracking Hong Kong indices were listed on the Saudi Exchange last year. In May this year, we saw Asia’s first investment-grade sukuk ETF listing in Hong Kong, as well as a new Mutual Recognition of Funds arrangement reached with Ireland.
     
         All these market development initiatives are going hand in hand with the upgrading of our financial market infrastructure. The HKSAR (Hong Kong Special Administrative Region) Government has been working with parties concerned to establish paperless, straight-through and one-stop integrated digital platforms for the provision of financial services, taking advantage of fintech developments and the rise of blockchain and AI. The goal is to increase efficiency and lower costs. As a key market operator, the HKEX has an important role to play in this, and we are very pleased to have the HKEX’s active participation and partnership in this journey.
     
         The implementation of an uncertificated securities market in Hong Kong, for example, will be a significant step towards modernising our securities market. It will allow individual investors to own securities in their names without a paper certificate and manage transactions through a digitalised platform. The Government, in collaboration with the Securities and Futures Commission and the HKEX, has completed all the relevant legislative work this year, with a view to launching the regime in the first half of 2026 following market preparations.
     
         Moving from securities to funds, I am glad to note that the first phase of the Integrated Fund Platform, the Fund Repository, has received positive responses for its comprehensive coverage and ease of use. I am also very pleased to note that the second phase of the Platform, the Order Routing Service launched today, has attracted the participation of major banks, transfer agents, brokers and fund houses. Leveraging the Communications Network developed jointly with the Shenzhen Stock Exchange, the Order Routing Service provides end-to-end transmission of subscription and redemption orders among fund distributors and transfer agents. I understand that development work on additional functionalities in the next phase, including nominee services and facilitation of payment and settlement, is under way.
     
         The development of an efficient and vibrant fund distribution ecosystem will drive market efficiency and lower transaction costs. This would in turn benefit end-investors and help realise our vision as the world’s top asset management hub and strengthening our status as an international financial centre. I congratulate the HKEX and its partner organisations on reaching this milestone and look forward to the full operation of a one-stop Platform encompassing the entire functionalities taking heed of user experience and stakeholder feedback. Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Keynote speech by Permanent Secretary for Financial Services and the Treasury (Financial Services) at Hong Kong Exchanges and Clearing Limited’s Integrated Fund Platform Order Routing Service Launch Ceremony (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the keynote speech by the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan, at the Hong Kong Exchanges and Clearing Limited (HKEX)’s Integrated Fund Platform Order Routing Service Launch Ceremony today (July 3):
     
    Bonnie (Chief Executive Officer of the HKEX, Ms Bonnie Chan), distinguished guests, ladies and gentlemen,
     
         It is my great pleasure to join you all today at the Launch Ceremony of the Order Routing Service under the Integrated Fund Platform operated by the HKEX.
     
         Digital infrastructure is key to the operation and development of the modern-day capital market. Today’s launch ceremony signifies a solid step in the construction of a market-wide infrastructure for our fund management industry leveraging the advancement in technology.
     
         For the first six months of this year – 2025, the Hong Kong stock market’s daily turnover reached HK$240 billion on average, up 118 per cent year on year. We also saw 44 IPOs (initial public offerings) raising a total of HK$107 billion, surpassing the annual figure of 2024 by 22 per cent and assuming a leading position in the world’s IPO fund raised during the same period this year.
     
         Fund flows in the collective investment scheme and asset management space are equally active. As of end-March 2025, for Hong Kong-domiciled funds, an overall net inflow of about HK$343 billion was recorded over the past 12 months, representing an increase of 285 per cent year on year. The AUM (assets under management) surged by close to 40 per cent, and the number of licensed corporations providing asset management services rose by about 5 per cent.
     
         As our capital market continues to grow in depth and breadth, we need to maintain the robustness and nimbleness of our backbone infrastructure to keep up with the demand and cater for future development. Legislative framework and regulatory regimes also have to be refreshed from time to time in order to bring out the growth potential in the marketplace and remove bottlenecks and inefficiencies that may exist.
     
         For example, to enrich the suite of products that can be made available to the market, the Government has amended the Securities and Futures Ordinance and enacted a new piece of legislation to introduce the open-ended fund company or OFC and limited partnership fund or LPF regimes to enable funds to set up in company and limited partnership forms. The diversified fund structures have been well received. As of the end of May this year, over 560 OFCs have been set up, and nearly 1 150 LPFs have been established in Hong Kong.
     
         In addition, we keep enhancing our connectivity with the Mainland market. For example, since the launch of the Cross-boundary Wealth Management Connect (WMC) 2.0 in the Guangdong-Hong Kong-Macao Greater Bay Area in February 2024 which, among other enhancement measures, allowed the investment quota per investor to go up to RMB3 million, there has been a significant increase in the number of investors and amount of cross-boundary fund remittances. As of end-May 2025, some 158 000 individual investors participated in the WMC. Cross-boundary fund remittances amounted to over RMB115 billion, around seven times increase compared with WMC 1.0.
     
         We are also expanding our international network. Two ETFs (exchange-traded funds) tracking Hong Kong indices were listed on the Saudi Exchange last year. In May this year, we saw Asia’s first investment-grade sukuk ETF listing in Hong Kong, as well as a new Mutual Recognition of Funds arrangement reached with Ireland.
     
         All these market development initiatives are going hand in hand with the upgrading of our financial market infrastructure. The HKSAR (Hong Kong Special Administrative Region) Government has been working with parties concerned to establish paperless, straight-through and one-stop integrated digital platforms for the provision of financial services, taking advantage of fintech developments and the rise of blockchain and AI. The goal is to increase efficiency and lower costs. As a key market operator, the HKEX has an important role to play in this, and we are very pleased to have the HKEX’s active participation and partnership in this journey.
     
         The implementation of an uncertificated securities market in Hong Kong, for example, will be a significant step towards modernising our securities market. It will allow individual investors to own securities in their names without a paper certificate and manage transactions through a digitalised platform. The Government, in collaboration with the Securities and Futures Commission and the HKEX, has completed all the relevant legislative work this year, with a view to launching the regime in the first half of 2026 following market preparations.
     
         Moving from securities to funds, I am glad to note that the first phase of the Integrated Fund Platform, the Fund Repository, has received positive responses for its comprehensive coverage and ease of use. I am also very pleased to note that the second phase of the Platform, the Order Routing Service launched today, has attracted the participation of major banks, transfer agents, brokers and fund houses. Leveraging the Communications Network developed jointly with the Shenzhen Stock Exchange, the Order Routing Service provides end-to-end transmission of subscription and redemption orders among fund distributors and transfer agents. I understand that development work on additional functionalities in the next phase, including nominee services and facilitation of payment and settlement, is under way.
     
         The development of an efficient and vibrant fund distribution ecosystem will drive market efficiency and lower transaction costs. This would in turn benefit end-investors and help realise our vision as the world’s top asset management hub and strengthening our status as an international financial centre. I congratulate the HKEX and its partner organisations on reaching this milestone and look forward to the full operation of a one-stop Platform encompassing the entire functionalities taking heed of user experience and stakeholder feedback. Thank you.

    MIL OSI Asia Pacific News

  • Sensex, Nifty end lower amid consolidation, investors await India-US trade deal

    Source: Government of India

    Source: Government of India (4)

    The Indian stock markets ended lower on Thursday after a day of cautious trading, as late selling pressure erased earlier gains. Investors remained watchful amid hopes of a possible trade agreement between the US and India.

    The Sensex touched an intra-day high of 83,850 in early trade but eventually closed 170.22 points or 0.2 per cent lower at 83,239.7. Similarly, the Nifty also slipped by 48.1 points or 0.19 per cent, settling at 25,405.3 by the end of the session.

    Markets traded volatile on the weekly expiry day and ended marginally lower, continuing the ongoing consolidation phase, said Ajit Mishra of Religare Broking Limited.

    After an initial uptick, the Nifty oscillated sharply in both directions while remaining within Wednesday’s trading range, ultimately closing at 25,405.30.

    “However, the overall trend remains bullish and is expected to stay intact unless the index decisively breaks below the 25,200-mark. On the upside, the 25,650–25,750 zone is likely to act as an immediate hurdle,” Mishra mentioned.

    On the Sensex, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Trent, and State Bank of India were among the top losers. On the other hand, Maruti Suzuki India, Infosys, NTPC, Asian Paints, Hindustan Unilever, and Eternal were among the top gainers — helping limit the downside.

    Broader markets showed subdued trends. The Nifty Midcap100 index managed to hold on to slight gains and closed flat with a positive bias. Following suit, the Nifty Smallcap100 index ended the day 0.26 per cent higher.

    In contrast, the Nifty Smallcap100 index ended the day 0.26 per cent lower.

    Among sectoral indices, the Nifty PSU Bank index was the biggest loser, falling 0.89 per cent due to selling pressure in stocks like Punjab National Bank, Union Bank of India, UCO Bank, and Central Bank of India.

    Other sectors such as metals, realty, banking, and financial services also ended lower.

    However, some pockets of the market saw buying interest. Sectors like media, auto, pharma, healthcare, consumer durables, oil & gas, and FMCG managed to close in the green.

    Market experts said that investors are likely to remain cautious in the coming sessions, keeping a close eye on global trade developments, FII activity and key economic cues.

    Meanwhile, the Indian rupee strengthened to its highest point in a month, primarily due to anticipated foreign capital inflows and a positive outlook on an impending trade agreement with the US.

    “In the near term, the spot USD/INR exchange rate is expected to find support at 84.95, while encountering resistance at 85.70,” Dilip Parmar of HDFC Securities stated.

    (IANS)

  • MIL-Evening Report: Grattan on Friday: how two once hot-button issues this week barely sparked media and political interest

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Political and news cycles often work in a certain and predictable way. Issues flare like bushfires, then rage for weeks or even months, until they are finally extinguished by action or fade by being overtaken by the next big thing.

    On two very different fronts this week, we’re reminded how these cycles work.

    During the last term, the opposition constantly hammered the government over its handling of the former immigration detainees released after the High Court found they couldn’t be held indefinitely. These included people who had committed murder, child sex offences and violent assaults.

    On Sunday, Home Affairs Minister Tony Burke admitted in a television interview that the legislation the government passed to re-detain some of these people was, in effect, impossible to use. Burke’s comments attracted only limited attention.

    The other reminder of an old story came when the Federal Court ordered a militant Muslim preacher to remove inflammatory lectures from the internet. He had lost a case brought by the Executive Council of Australian Jewry under Section 18C for the Racial Discrimination Act. More than a decade ago, political passions ran high in conservative circles about the alleged evils of 18C.

    First to the Burke admission. Burke told Sky he had “a lot of resources” dedicated to trying to get applications to court for preventative detention orders. But “no one has come close to reaching the threshold that is in that legislation”. Burke insisted he was “not giving up”, but there is little reason to believe things will change. The opposition has suggested amending the preventative detention legislation, but Burke says that would hit a constitutional obstacle.

    For a long time, the government had kept saying it was working up cases to put to the court (and given the impression action was close). But, realising the difficulty, it also passed legislation facilitating the deportation of these people to third countries. There are now three former detainees due to be deported to Nauru, following a financial agreement with that country. But there’s a hitch: their deportations are tied up in court appeals. (They are, however, able to be held in detention while the cases proceed.)

    The challenge still presented by the former detainees in the community is no small matter, despite the political storm having calmed and the media interest dissipating.

    In evidence in Senate estimates in March, the Department of Home Affairs said 300 people had been released from immigration detention as at the end of February. Of these, 104 had offended since release, and 30 were incarcerated (including on remand). Some 83 had only a state or territory criminal charge; seven only a Migration Act charge; 14 people had both a Migration Act charge and a state or territory charge. In recent weeks, one former detainee is alleged to have murdered a photographer in Melbourne.

    The political context can be very relevant to whether the embers of an old issue re-spark into something major.

    Prime Minister Anthony Albanese’s decision last year to put Burke into home affairs was something of a political masterstroke. If Clare O’Neil and Andrew Giles had still been in their former respective portfolios of home affairs and immigration, the present failure to deal more successfully with the former detainees would have been a much bigger issue. Burke is skilled at throwing a blanket over contentious areas.

    On the other side of politics, James Paterson was moved out of home affairs to become shadow finance minister in Sussan Ley’s reshuffle. Paterson pursued the former immigration detainees relentlessly. The new spokesmen, Andrew Hastie (home affairs) and Paul Scarr (immigration) haven’t hit their strides yet, and what they have said on the issue hasn’t grabbed much attention.

    The government would have been under more pressure on the issue if parliament were sitting. But the new parliament doesn’t meet until July 22.

    When it does, one of the new arrivals will be a former face, Liberal MP Tim Wilson. Way back when, Wilson was a player in the story of 18C. For him, the way 18C resurfaced this week contains more than a little irony.

    In February 2014, Wilson took up his post of Human Rights Commissioner, appointed by the Abbott government with the special brief of promoting freedom of speech. (He was even dubbed the “freedom commissioner”.)

    The Abbott government was strongly opposed to section 18C of the Racial Discrimination Act, which made it unlawful to “offend, insult, humiliate or intimidate” a person or group because of their race or ethnicity.

    The assault on 18C ran into vigorous opposition from ethnic and other groups, including the Executive Council of Australian Jewry. In the end, then prime minister Tony Abbott retreated. Wilson was disappointed, tweeting: “Disturbed to hear the government has backed down on 18c and will keep offensive speech illegal. Very disturbed.”

    In his 2025 bid for election, Wilson – who had been member for Goldstein from 2016-2022 – was helped by the Jewish vote, after the rise of antisemitism.

    The debate about free speech has moved on a great deal since the days of the Abbott government, when conservatives were particularly agitated about 18C following a court judgement against journalist Andrew Bolt relating what he has written about some fair-skinned Indigenous people.

    Today’s debate is in the context of “hate speech” associated with the Middle East conflict. Hate-crime laws have provoked another fierce round of controversy about the appropriate limits to put on “free speech”.

    The Executive Council of Australian Jewry brought its case under the 18C civil law against preacher William Haddad, from Western Sydney, after no action was taken by the authorities under the criminal law.

    Haddad described Jews as “a treacherous people, a vile people”, among other offensive remarks, that included saying: “The majority of banks are owned by the Jews, who are happy to give people loans, knowing that it’s almost impossible to pay it back”. Haddad argued in his defence his lectures drew on religious writings, relating them to contemporary events, and were delivered for educational purposes.

    Finding against Haddad, Judge Angus Stewart said the lectures conveyed “disparaging imputations about Jewish people and that in all the circumstances were reasonably likely to offend, insult, humiliate and intimidate Jews in Australia”.

    Reflecting on this week’s decision, George Brandis – who was attorney-general during the 18C furore – says, “My view hasn’t changed. It should not in a free country be either criminally or civilly actionable to say something that merely offends. However, in this case the conduct went far beyond mere offence, to intimidation. It did not require 18C to get the redress that was sought in the case.”

    Wilson does not wish to re-enter the debate. The new opposition industrial relations spokesman says his focus is “my portfolio responsibilities”.

    It’s likely many of those who fought 18C years ago hold to their original view, while having to applaud the judgement made under it this week. That’s another irony.

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Grattan on Friday: how two once hot-button issues this week barely sparked media and political interest – https://theconversation.com/grattan-on-friday-how-two-once-hot-button-issues-this-week-barely-sparked-media-and-political-interest-259686

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Africa: Qatar Participates in 8th Plenary, Closing Sessions of Fourth International Conference on Financing for Development

    Source: Government of Qatar

    Seville, July 2, 2025

    The State of Qatar has participated in the Eighth Plenary and Closing Sessions of the Fourth International Conference on Financing for Development, held in Seville, Spain.

    HE Minister of State for International Cooperation Maryam bint Ali bin Nasser Al Misnad, represented the State of Qatar in both sessions.

    The conference concluded with the adoption of a comprehensive document affirming that financing for development should not remain synonymous with traditional aid, but rather should transform into a sustainable investment approach that leads to the creation of opportunities and economic growth in developing countries.

    The document noted that reforming the global financial system is an urgent necessity, including enhancing the representation of developing countries in international financial institutions, improving borrowing conditions to align with development capabilities, and imposing fair taxes on wealth and environmentally polluting activities.

    The document noted that reducing inequality between and within countries can only be achieved through transparent and equitable financing that takes into account the needs of vulnerable and marginalized groups.

    In this context, it emphasized that the global debt crisis must not impede development.

    Therefore, the document supported innovative mechanisms, including debt-for-development or climate investment swaps, automatic debt service suspension in emergencies and disasters, and the establishment of a global debt registry to enhance transparency and accountability.

    It is worth noting that the Doha 2023 Declaration established the framework for the principles of economic justice and support for least developed countries, while the Seville Declaration is expected to operationalize these principles through a multilateral implementation platform based on innovative financing tools and new development alliances.

    The Doha 2023 Declaration affirmed the recognition of accumulated challenges and acknowledged that least developed countries are suffering from accumulated crises, including the repercussions of the COVID-19 pandemic, climate change, rising debt, lack of financing and investment, and fragile supply chains.

    The Doha Declaration also included a comprehensive vision for development through 2031, encompassing a program of six priority tracks: investing in human capital (health, education, and social protection), accelerating digital transformation, addressing climate change and enhancing resilience, supporting integration into the global economy, strengthening governance and institutions, and mobilizing resources and concessional financing.

    The Doha 2023 Declaration also called for enhancing access to concessional financing and grants, debt relief or cancellation, increasing the share of least developed countries in global trade, and accelerating the implementation of the Sustainable Development Goals (SDGs).

    The Seville Declaration represents a pivotal link in a series of global initiatives and establishes a new phase of investment- and equity-based development financing, in preparation for the in-depth review of the international community’s commitments to least developed countries, which will be held in Doha next November.

    MIL OSI Africa

  • MIL-OSI Africa: Spaza Shop Support Fund campaign goes to Mpumalanga

    Source: Government of South Africa

    Thursday, July 3, 2025

    The national awareness campaign on the Spaza Shop Support Fund is today in Volksrust, Mpumalanga.

    Township-based entrepreneurs in the area will have an opportunity to engage directly with government and its partners on how to access vital support to grow and sustain their businesses. 

    Led by the Department of Trade, Industry and Competition (the dtic) and the Department of Small Business Development (DSBD), the ongoing campaign forms part of a national drive to raise awareness about available support for spaza shops and township convenience stores. It aims to close information gaps and bring services closer to communities.

    Following successful stops in KwaZulu-Natal, Limpopo, North West, the Free State, and the Northern Cape, this leg targets entrepreneurs and spaza shop owners in the Dr. Pixley Ka Isaka Ka Seme Local Municipality and surrounding areas, who are often underserved but play a vital role in the local economy.

    At the centre of the campaign is the R500 million Spaza Shop Support Fund, launched by Minister of Trade, Industry and Competition, Parks Tau and Minister of Small Business Development, Stella Ndabeni, in April 2025. 

    The fund is administered by the Small Enterprise Development and Finance Agency (SEDFA) and the National Empowerment Fund (NEF) agencies of the DSBD and the dtic, respectively.

    Attendees in Volksrust will receive detailed guidance on how to apply for financial and non-financial assistance, including:

    • Access to affordable stock through delivery partners.
    • Infrastructure upgrades such as shelving, refrigeration and security.
    • Point-of-sale devices.
    • Business training on compliance, digital literacy, credit health and food safety.
    • Market access support through partnerships with black industrialists and local manufacturers.

    “The initiative aims to boost the competitiveness of township businesses and foster inclusive economic participation by bringing more informal retailers into the broader retail value chain,” the dtic said in a statement. – SAnews.gov.za

    MIL OSI Africa

  • India’s GDP growth projected at 6.4-6.7% for FY26: CII

    Source: Government of India

    Source: Government of India (4)

    The Confederation of Indian Industry (CII) has projected India’s real GDP growth to remain in the range of 6.4% to 6.7% in the financial year 2025-26, reiterating the country’s position as the fastest-growing major economy globally.

    Speaking at an industry event in New Delhi on Thursday, CII President Rajiv Memani observed that India continues to be a bright spot amid heightened global economic and geopolitical uncertainty. “Competitiveness is India’s passport to prosperity. But it must be earned through reform, innovation and trust,” Memani said.

    He added that CII remains committed to partnering with the government and industry to strengthen India’s position as a competitive and globally connected economy. “India’s internal growth momentum is resilient enough to weather external shocks,” he said.

    Memani stressed that India must anchor its growth in competitiveness, driven by scale, productivity, innovation and resilience, especially at a time when global trade and technology dynamics are changing rapidly.

    To meet the country’s developmental and infrastructure requirements while maintaining fiscal prudence, CII has suggested calibrated disinvestment of public sector enterprises (PSEs). The industry body noted that PSEs account for nearly 10% of India’s total market capitalisation, estimated at around ₹55 lakh crore.

    “Divesting about 10% of this market capitalisation could potentially generate ₹5 lakh crore, which could be channelled towards enhancing public capital expenditure, retiring government debt, setting up a Sovereign Wealth Fund for overseas strategic investments and acquiring critical technologies,” Memani said.

    To address the challenges faced by India’s ‘missing middle’, CII has proposed a Capital Support Scheme aimed at assisting small and medium-sized enterprises in the manufacturing sector undertaking R&D, technology adoption and job creation.

    Further, to improve the cost efficiency of businesses, CII has suggested the formation of a dedicated taskforce to recommend policies for ensuring land availability at affordable rates, thereby strengthening the competitiveness of the manufacturing sector.

    Highlighting India’s energy transition goals, CII called for sector-specific strategies, including for mobility, and advocated the proactive creation of Green Hydrogen and Renewable Energy hubs. The industry body also plans to launch a dedicated Mission on Energy Transition to encourage industries to shift towards low-carbon alternatives.

    (IANS)