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Category: Economy

  • MIL-OSI Africa: Judiciary set for full institutional independence

    Source: South Africa News Agency

    Judiciary set for full institutional independence

    The process of placing the country’s judiciary under “full institutional independence” is expected to be rolled out in the 2025/26 financial year.

    This was announced by Minister of Justice and Constitutional Development, Mmamoloko Kubayi, when she was presenting the budget vote of the Office of the Chief Justice (OCJ) in Parliament, on Tuesday afternoon.

    “[This] will enable the judiciary to be a fully-fledged Arm of the State. In line with the constitution, judicial governance and court administration will be placed under the authority of the Judiciary itself,” Kubayi said. 

    The proposed model will entail structural independence, which includes both financial and operational independence. With the vision to establish a single Judiciary, the administration of the Lower Courts, including the Magistrates Commission, will also be transferred the OCJ.

    Explaining the structure of the proposed model of the Judiciary, Kubayi highlighted that the Chief Justice will become the Executive Authority of the Office of the Chief Justice, while the Secretary-General will serve as the the accounting authority of the Judiciary. 

    “The OCJ will then be re-established outside the public service and be capacitated to appoint its staff in line with its own prescripts, human resource framework tailored to judicial operations and principles of independence,” the Minister explained.

    To carry out this process, the Minister announced that a task team comprising senior officials of the Department of Justice and Constitutional Development, Presidency, Office of the Chief Justice, National Treasury, Department of Public Service and Administration (DPSA), and the Department of Public Works and Infrastructure (DPWI), has been established to chart a way for the institutional independence of the Judiciary.

    The team has been given until August to present a progress report to Cabinet on the judiciary’s institutional independence.

    “In the end, as envisaged by the founders of our democracy, we want to create a single judiciary that is an equal Arm of the State,” Kubayi affirmed.

    Budget allocation

    The Minister told Parliament that the OCJ has been allocated a budget increase of some 5.5%, which will “go a long way in ensuring efficiency and effectiveness of the courts and the judiciary as a whole”.

    “The OCJ provides direct support to the Judiciary and Superior Courts to ensure that the Judicial Arm of the State functions optimally. As such, the OCJ has been allocated a budget of R2.7 billion for the 2025/2026 Financial Year, which it operationalises through its three Programmes, namely: Administration, Superior Court Services as well as Judicial Education and Support. This allocation also includes the direct allocation for the remuneration of Judges.

    “This represents a budget increase of just over 5.5% compared to the previous financial year, which will go a long way in ensuring efficiency and effectiveness of the courts and the judiciary as a whole. In his Budget Speech, Minister of Finance has also made an undertaking to, later this year, make funds available for strengthening capabilities in the Office of the Chief Justice,” the Minister said.

    She added that the modernisation of the court system remains a key priority to “improve access to justice”, highlighting the continued rollout of the Court Online system following its successful pilot in the Gauteng Division of the High Court.

    “Court Online provides a platform for Law Firms/Litigants to file documents to the Courts electronically (E-Filing) over the Internet from anywhere, and is now operational in the Gauteng, Western Cape, KwaZulu-Natal, Mpumalanga, and Limpopo divisions. Eastern Cape is currently being rolled out and will be completed by end of July 2025. 

    “It [the system] is also being progressively implemented at the Land Court, Labour Court, and Labour Appeal Court. The envisaged full implementation of Court Online will enhance access to quality justice for all and the effectiveness of the courts,” Kubayi said.

    Another priority is the implementation of the department’s Fraud Prevention and Anti-Corruption Policy and Strategy during 2025/2026 financial year.

    This in line with the OCJ’s zero tolerance stance on corruption and fraud.

    “This policy creates a mechanism for reporting anonymously within the department and through the National Anti-Corruption Hotline, amongst other things.

    “We can inform members that following the reports of corruption in the Mthatha High Court, the OCJ has commenced with Lifestyle Audits of all employees over and above the work that is done by law enforcement agencies. Furthermore 4 officials have been suspended in Pretoria High court following allegations fraud and corruption,” Kubayi said. – SAnews.gov.za

    NeoB

    MIL OSI Africa –

  • MIL-OSI NGOs: Oxfam reaction to Spain, Brazil and South Africa launching a new coalition to tax the super-rich

    Source: Oxfam –

    In response to Spain, Brazil and South Africa’s new global coalition to tax the super-rich, launched today at the Fourth Financing for Development Conference in Seville, Oxfam Tax Justice Policy Lead Susana Ruiz said: 

    “We welcome the leadership of Brazil, Spain and South Africa in calling for taxes on the super-rich. People around the world are pushing for more countries to reject the corrupting political influence of oligarchies. Taxation of the super-rich is a vital tool to secure sustainable development and fight inequalities. The wealth of the richest 1% has surged $33.9 trillion since 2015, enough to end annual poverty 22 times, yet billionaires only pay around 0.3% in real taxes.  

    “This extreme inequality is being driven by a financial system that puts the interests of a wealthy few above everyone else. This concentration of wealth is blocking progress towards the Sustainable Development Goals and keeping over three billion people living in poverty: over half of poor countries are spending more on debt repayments than on healthcare or education. 

    “In a tense geopolitical environment, Spain, Brazil and South Africa have taken an important step in forging an alliance here at the UN conference in Seville to show political will for taxation of the super-rich. Now other countries must follow their lead and join forces. This year, the FFD in Seville, COP30 in Brazil and G20 in South Africa are key opportunities for international cooperation to tax the super-rich and invest in a sustainable future that puts human rights and equality at its core.”

    Download the Oxfam report “From Private Profit to Public Power: Financing Development, Not Oligarchy“ which was launched ahead of the Fourth Financing for Development Conference with new analysis on economic inequality.

    Greenpeace and Oxfam International commissioned a study this month on public opinion on taxing the super-rich. The research was conducted by first party data company Dynata in May-June 2025, in Brazil, Canada, France, Germany, Kenya, Italy, India, Mexico, the Philippines, South Africa, Spain, the UK and the US. The survey had approximately 1200 respondents per country, with a margin of error of +-2.83%. Together, these countries represent close to half the world’s population. See the results here.

    Oxfam will be hosting a major high-level event together with Club de Madrid, at 7pm on July 1, 2025, in Seville, joined by high-level government representatives on the media briefing note. Journalists are invited to attend and will be prioritized for questions. Please register here.

    Moreover, an official side event on inequality and tax reform will take place at 2.30pm on July 1, 2025, at the FIBES Exhibition Centre room 20 joined by high-level government representatives from Brazil, Spain and South Africa, international organizations and global experts. See note here.

    MIL OSI NGO –

  • MIL-OSI Africa: The European Union (EU) Accelerates Mining Investments Across Africa in H1 2025


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    The EU has increased financial and technical support for Africa’s mining sector in the first half of 2025, aligning its foreign investment strategy with the continent’s agenda to shape the global energy transition. In June this year, the EU named four Africa-bsed projects as part of its 13 globally strategic initiatives under the Critical Raw Materials Act. The projects include Mkango Resources’ 8,425-ton-per-annum Songwe Hill Rare Earths Project in Malawi and Frontier Rare Earths’ 4,000-ton-per-annum Zandkopsdrift magnet-grade rare earths project in South Africa. The Maniry Graphite Project in Madagascar led by Evion Group and a 6,000-ton-per-annum cobalt refinery in Zambia are also among the projects set to receive EU financial support and technical assistance.

    Amid increased EU support for African mining projects, the upcoming African Mining Week – Africa’s premier gathering for mining stakeholders, taking place from October 1–3, 2025 in Cape Town – will showcase lucrative investment and cooperation opportunities for EU companies in Africa’s burgeoning mining sector. The event will feature an EU-Africa Roundtable, showcasing the EU’s contribution to Africa’s mining sector sustainability.

    EU-DRC Mining Partnership Strengthened

    Two new programs announced by the EU this June have deepened the bloc’s mining partnership with the Democratic Republic of Congo (DRC) – the world’s top cobalt producer and Africa’s largest copper producer. The programs include the Cobalt for Development project which aims to formalize and uplift small-scale mining operations in the DRC. Meanwhile, the upcoming Panafgeo+ geological mapping program – led by France’s Bureau of Geological and Mining Research in collaboration with DRC’s Ministry of Mines – will enhance the country’s geological knowledge base. At AMW, a panel titled The Cobalt Opportunity: DRC’s Strategic Position in the EV Revolution will unpack trends and opportunities within the DRC’s cobalt sector value chain.

    EU Backs African Mineral Logistics Expansion

    The EU is also backing strategic infrastructure development to facilitate connectivity between mineral-rich African markets and EU buyers. The Africa Finance Corporation recently secured a €250 million, 10-year loan from Italy’s development bank Cassa Depositi e Prestiti to advance the Lobito Corridor, bolstering connectivity between EU markets and Angola, Zambia and the DRC. Meanwhile, the European Investment Bank has also approved a €113 million loan to co-finance the expansion of Mauritania’s iron ore rail line linking Zouérat to Nouadhibou – part of a broader €461 million investment aimed at boosting the country’s iron ore export capacity.

    EU-South Africa Partnership

    The EU recently announced a €4.7 billion financing package announced to support mineral processing, green hydrogen and transport infrastructure in South Africa, the world’s largest producer of platinum group metals. This financing package reflects a growing focus on securing diversified and sustainable mineral supply chains. At AMW, a dedicated panel exploring South Africa’s PGMs market will showcase emerging prospects for EU firms within the country’s value chain.

    Growing Support for Formalized Artisanal Mining

    The EU has also committed to the ACP-EU Technical Assistance Facility for Commodity Resource Management, which was launched in February to support artisanal and small-scale miners across Africa through formalization and training program. As part of growing efforts by African nations and international partners to uplift small-scale miners, AMW will host a panel discussion titled ASM Regulation: Balancing Formalization and Livelihood Protection. The panel will explore policies and initiatives aimed at integrating artisanal and small-scale mining into the formal mining sector.

    Distributed by APO Group on behalf of Energy Capital & Power.

    About African Mining Week:
    African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    MIL OSI Africa –

  • MIL-OSI Africa: African Development Bank approves $47.5 million loan to spur Eswatini’s economic growth


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    The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $47.5 million loan to the Kingdom of Eswatini. The loan will support the government’s efforts to transform the economy, achieve sustainable growth, create jobs, improve service delivery, and enhance the livelihoods of its people. 

    The Enhancing Economic Resilience and Competitiveness Program (EERCP) represents a strategic intervention to support Eswatini’s National Development Plan (2023-2028).

    This marks the first phase of a two-year program designed to strengthen the economic foundation of the southern African nation and foster sustainable growth, economic recovery, and sustainable livelihoods for Eswatini people, while addressing mounting fiscal pressures from declining Southern African Customs Union (SACU) revenues and economic headwinds.

    “This operation comes at a critical juncture for Eswatini as the country navigates challenging economic conditions while implementing ambitious reforms,” said Moono Mupotola, African Development Bank Deputy Director General for Southern Africa “Our support will help the Kingdom build fiscal resilience while creating an enabling environment for private sector-led growth that can generate jobs for young people and women.”

    Eswatini’s economy faces significant headwinds, with GDP growth declining from 5% in 2023 to an estimated 3.6% in 2024, primarily due to the impact of extreme droughts on agricultural output. The fiscal deficit has widened from 1.5% in 2023 to an estimated 1.7% in 2024, driven by underperformance in customs revenues and increased public spending pressures.

    With youth unemployment reaching 48.7% and overall unemployment at 35.4%, Eswatini urgently needs structural reforms to unleash the potential of its private sector and create opportunities for its predominantly young population.

    The program focuses on two complementary pillars: deepening fiscal and public financial management reforms, and enhancing competitiveness to promote private sector-led, inclusive, and green growth.

    The program builds on the African Development Bank’s successful track record in Eswatini, including the Support for Economic Recovery and Inclusive Growth operation and ongoing technical assistance in state-owned enterprise reforms, procurement, and the implementation of gender policy.

    The Enhancing Economic Resilience and Competitiveness Program places special emphasis on promoting inclusive growth and gender equality. Environmental sustainability is integrated throughout the program.

    The program is expected to deliver measurable improvements by reducing domestic arrears, increasing private sector growth in GDP, boosting renewable energy share, and improving Country Policy and Institutional Assessment (https://apo-opa.co/44KEUgw) scores on fiscal policy and social inclusion. The Country Policy and Institutional Assessment of the African Development Bank is a diagnostic tool that assesses, every two years, the quality of policies and the performance of institutional frameworks in the 54 African countries.

    The EERCP has been developed in close coordination with the World Bank, which provides complementary financing.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Media contact:
    Emeka Anuforo
    Communication and External Relations Department
    media@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

    MIL OSI Africa –

  • MIL-OSI United Kingdom: A new chapter in how we finance development: Baroness Chapman statement

    Source: United Kingdom – Executive Government & Departments

    Speech

    A new chapter in how we finance development: Baroness Chapman statement

    Minister for Development Baroness Chapman delivers UK national statement at the Fourth International Conference on Financing for Development (FFD4) in Seville.

    Good afternoon, everyone.

    Seville must be the start of a new chapter in how we finance development and sustainable growth over the next decade.

    FFD4 sets out three critical shifts; and the UK will respond.

    Firstly, helping countries to raise more of their own revenues.

    The UK will support countries to raise more finance domestically, and manage it better, by sharing expertise from our own revenue authority and finance ministry.

    And we will work with all partners to take urgent action to tackle unsustainable debt. We cannot do this alone.

    We will work through the G20 to strengthen, expand and reform the Common Framework, ensuring timely and predictable relief for debt distressed countries.

    We will work with partners to maintain momentum on reforms to the existing debt architecture including to make restructurings quicker and more efficient.

    We must also ensure future debt sustainability by pressing for more responsible and transparent lending and borrowing and scaling UK-championed clauses that pause debt repayments when a crisis hits.

    The second is on mobilising international finance at scale.

    Increasing access to finance from all sources, beyond ODA.

    Leveraging and multiplying wherever we can.

    We need private capital at a much greater scale in developing countries. We are proud to launch a coalition of governments, finance institutions, and investors at FFD4.

    With the aim of mobilising high-quality finance for emerging and developing economies through stock exchanges.

    We will work with the UK industry experts to unlock and scale up global institutional capital, develop local currency markets and help to tackle exchange rate risks in developing countries.

    I will look at the evidence on the barriers to investment, and if there need to be changes to our regulatory approach, I will need to work with international partners and groups to build a coalition to call for those changes.

    And we welcome the ambition to triple the size of MDB financing. This will require stretching balance sheets and using guarantees, but that can only get us so far. 

    We will also need to inject more capital into some MDBs, which is why the UK supports a capital increase for the World Bank’s IBRD, conditional on reforms.

    If agreed, this could unlock billions of dollars annually.  

    We have heard the call to explore new sources of climate finance. That is why we have committed to and are pushing for agreement on the International Maritime Organisation’s Net Zero Framework.

    The third is making the system work better for developing countries.

    This means getting behind countries own priorities and plans.

    It means putting women and girls at the heart of everything we do. 

    It also means simplifying and streamlining the aid architecture, so it is easier for countries to engage and access finance.

    We must do more through multilateral organisations that pool and multiply resources, and drive reform across the multilateral system to make it faster, more effective and more sustainable.

    That is why we are proud to be GAVI’s largest investor, as announced last week at the GAVI replenishment.

    It also means creating a fairer system where developing countries have greater voice and participation to shape the outcomes they need.

    That is why the UK is calling for more voice and representation for low-income and vulnerable countries in the World Bank and IMF.

    And ensuring countries can better handle shocks and build resilience to climate change.

    It is unacceptable that only 2% of crisis finance is pre-arranged when 35% of shocks are modellable. 

    That is why we are launching a global coalition to scale up the use of pre-arranged finance. And we will work with the insurance industry to help deliver this.

    I am proud that the UK will be the first country to report and publish our annual pre -arranged finance figures.

    This work is urgent and cannot wait.

    So let us make Seville a springboard for what can and must come next.

    Thank you.

    Updates to this page

    Published 2 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: The EBA consults on draft amended Guidelines on the application of the definition of default under the Capital Requirements Regulation

    Source: European Banking Authority

    The European Banking Authority (EBA) today launched a public consultation on its draft amended  Guidelines on the application of the definition of default under the Capital Requirements Regulation (CRR). As part of its commitment to financial stability, transparency, and consistency, the EBA is proposing to maintain the existing 1% threshold for net present value (NPV) loss in debt restructuring. This approach reflects a careful balance between flexibility for institutions and the need to uphold robust risk management standards. The consultation runs until 15 October 2025.

    The proposal to retain the 1% threshold is based on three key considerations:

    • The current framework is already flexible and risk-sensitive, allows effective restructuring without misclassifying defaults, and is aligned with established accounting principles.
    • Maintaining consistency with existing prudential standards helps safeguard the progress made in reducing non-performing loans and prevents regulatory arbitrage.
    • A stable threshold supports reliable credit risk modelling, ensuring accurate capital and provisioning assessments across portfolios under both IRB and IFRS 9.

    To allow for more proactive debt restructuring and reduce the potential burden on debtors, the EBA is considering a shortened probation period from 1 year to e.g. 3 months for certain forborne exposures. The draft amended Guidelines, however, do not incorporate this change, also because it would widen the gap between the definition of non-performing exposures and the definition of default.

    Besides the changes brought forward by the revised CRR, the EBA is also proposing to increase the exceptional treatment of days past due at invoice level from 30 to 90 for non-recourse factoring arrangements to better reflect the economic reality of purchased receivables.

    Consultation process

    Responses to this consultation can be sent to the EBA by clicking on the “send your comments” button on the consultation page. Please note that the deadline for the submission of comments is 15 October 2025.

    A public hearing will take place via conference call on 3 September 2025 from 11:00 to 12:00 CET. The deadline for registration is the 29 August 2025, 16:00 CET.

    All contributions received will be published after the consultation closes, unless requested otherwise.

    Legal basis and background

    The definition of default is laid down in Article 178 of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR) and further detailed in Commission Delegated Regulation (EU) 2018/171 and the EBA Guidelines on the definition of default.

    Under Article 178(7) of CRR, as amended by Regulation (EU) 2024/1623, the European Banking Authority is mandated to review the Definition of Default guidelines which were drafted by the EBA based on the mandate in Article 178(7) of Regulation (EU) No 575/2013. While the mandate explicitly mentions that the EBA shall duly consider the need for granting a sufficient flexibility to institutions when specifying what constitutes a diminished financial obligation, the mandate also allows for the review of other parts of the framework.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Coventry Music and Go CV strike a chord with new partnership

    Source: City of Coventry

    Following the success of the city’s first-ever Coventry Schools’ Arts Week, Coventry City Council is proud to announce an exciting new partnership between Coventry Music and Go CV.

    This initiative, launching in September 2025, will open up more opportunities for young people and families across Coventry to engage with music, helping to break down financial barriers to participation.

    As part of this new collaboration:

    • Go CV+ members will receive a 25% discount on direct billed music lessons with Coventry Music.
    • All Go CV card holders – regardless of card type – will enjoy free access to nearly all Coventry Music Groups.

    This partnership represents a significant step towards making music education and community engagement more accessible and inclusive for all.

    Councillor Dr Kindy Sandhu, Cabinet Member for Education and Skills at Coventry City Council said: “Music has the power to inspire, unite, and transform lives. This new partnership between Coventry Music and Go CV will ensure that more children and young people can access high-quality music opportunities, regardless of their background. It’s another step towards a fairer, more creative Coventry.”

    The announcement follows a hugely successful Coventry Schools’ Arts Week, which saw schools across the city come together in a vibrant celebration of creativity. The new partnership builds on this momentum, strengthening the Council’s commitment to cultural growth and lifelong learning.

    Councillor Kamran Caan, Cabinet Member for Public Health, Sport and Wellbeing said: “It’s fantastic to see another exciting expansion of the Go CV scheme. Go CV continues to make a real difference for people across our city — helping families save money, access fantastic opportunities, and enjoy all that Coventry has to offer. It’s a great example of how we can support local communities and promote health, wellbeing and inclusion.”

    Go CV, which is used by over 125,000 residents in the city, gives access to discounts and offers when visiting local attractions. Through the Go CV mobile app, savings can be made when shopping at local businesses too.

    Residents living in Coventry can join Go CV for free via the Go CV website. Businesses interested in partnering with Go CV and creating an offer for Coventry residents can register for free via the business portal.

    More about Coventry Music

    To keep up to date with the latest news, sign up for the Your Coventry email newsletter or follow the Council on Facebook, X, YouTube, Instagram, LinkedIn and TikTok.

    Wednesday, 2nd July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Country and regional analyses underscore urgency of WTO reform

    Source: International Chamber of Commerce

    Headline: Country and regional analyses underscore urgency of WTO reform

    Building on the 2024 regional study, a new 2025 follow-up report commissioned by the International Chamber of Commerce (ICC) and conducted by Oxford Economics provides a country-level look at the consequences of WTO dissolution for ten developing economies: Brazil, Cameroon, China, Egypt, Guatemala, India, Indonesia, South Africa, Türkiye and Vietnam.

    The 2024 regional study (available in English and Spanish) showed that WTO dissolution would have devastating consequences for developing economies across the world, including:

    • A 33% drop in developing countries’ non-fuel goods trade relative to a baseline scenario with the multilateral system still in place;
    • A permanent GDP loss to developing countries of over 5% – driven in part by a 5% decline in foreign direct investment flows;
    • Acute export losses of 43% in low-income economies and 32% in middle-income countries;
    • At a regional level, trade flows in Sub-Saharan Africa and South Asia are most affected, reflective of the large number of LDCs within these groupings. 

    This new country-level analysis confirms those findings and shows the impact on ten examined developing economies:

    • Non-fuel goods exports would fall by up to 45%, with Brazil, India and China among the hardest hit. Even the least affected countries in the sample — Egypt and Guatemala — would face declines of around 20%;
    • Foreign direct investment is projected to fall between 3–6% in the ten countries studied, as rising uncertainty and trade costs undermine investor confidence;
    • Long-run GDP losses are estimated to range from 3% to 6%, with the sharpest contractions in economies highly dependent on export-led growth, such as Vietnam, China and India.

    These figures underscore what is at stake. For developing countries, the breakdown of the multilateral trading system would not just slow progress, it could reverse hard-won development gains.

    The message is clear: the multilateral trading system remains an essential foundation not only for economic growth and poverty reduction, but to also safeguard wider global interests, including supply chain resilience. Preserving and strengthening the WTO is not a theoretical exercise — it is an urgent priority for sustainable development and shared prosperity.

    Why are some countries more exposed than others?

    The research shows that countries with shallow integration into global value chains and limited trade agreements —such as Brazil and India — would face the sharpest export declines. Others, like China and Vietnam, are more integrated into global markets but remain highly dependent on a predictable, rules-based system. In all cases, a WTO dissolution would have far-reaching consequences for growth and development.

    Can FTAs replace the WTO’s rule-based system?

    While regional and bilateral trade agreements offer some protection, they do not offer the global legal certainty and broad-based commitments provided by WTO rules. Even with countries with more extensive FTA networks, such as Guatemala and Egypt, would still face major disruptions. In addition, many FTAs are built on WTO rules. If the global trading system broke down, parts of those agreements could stop working properly, and some deals might need to be rewritten.

    What needs to happen now?

    The findings reinforce the urgency of revitalising and strengthening the multilateral trading system. ICC urges governments to work together to ensure the multilateral trading system is modernised and made fit-for-purpose to meet the demands of today’s global economy.

    Without action, the cost of the erosion of the WTO will fall heaviest on those with the least ability to absorb it and the greatest need for a stable, rules-based global economy. The alternative, as this paper shows, is not just economic disruption for developing countries, but a devastating setback for global development and, ultimately, for the lives and livelihoods of billions.  

    MIL OSI Economics –

  • MIL-OSI Economics: ICC expands Principles for Sustainable Trade Finance to include social impact and supply-chain solutions

    Source: International Chamber of Commerce

    Headline: ICC expands Principles for Sustainable Trade Finance to include social impact and supply-chain solutions

    Launched during the Financing for Future Development conference taking place in Seville, Spain, the updated Principles feature new Principles for Social Trade Finance (PSoTF) that enable lenders to classify facilities whose proceeds directly benefit vulnerable or underserved populations and align with the Social Loan Principles and the United Nations Sustainable Development Goals. Additionally, the update introduces the ICC Principles for Sustainability-Linked Supply-Chain Finance (PSL-SCF), providing detailed guidance on KPI selection, target calibration, monitoring and de-classification across all parties involved. This gives buyers and their suppliers a consistent, incentive-based pathway to embed decarbonisation and social metrics in payables-finance programmes.

    Provide your feedback: Industry consultation now open until 5 September 2025

    ICC has launched a public consultation inviting feedback from stakeholders across the trade finance ecosystem on the new components (the PSoTF and PSL-SCF) of the Principles. The survey, available here, is open until 5 September 2025, and is essential to ensure the final framework balances technical rigor with practicality for users operating across diverse geographies and product sets. ICC expects to formally ratify the document in Q3/4 of 2025.

    Contact us: For more information on the Principles for Sustainable Trade Finance or to submit detailed comments, please reach out to:

    More insights

    MIL OSI Economics –

  • MIL-OSI Submissions: Australia – Tariffs, geopolitical tensions and a turning tide on inflation: here’s what CommBank’s economists are looking out for in FY26 – CBA

    Source: Commonwealth Bank of Australia (CBA)

    While global risks remain elevated, Australia’s economy is showing signs of resilience.

    “If anyone was still in any doubt that we had entered a new global economic era, the last few months have put those doubts to rest,” according to CBA’s Chief Economist Luke Yeaman and his team, today publishing ‘The CommBank View’, an in-depth analysis of economic issues in the year ahead.

    The report presents a cautiously optimistic outlook for FY26. Despite persistent global headwinds—including trade tensions and geopolitical uncertainty—the domestic economy is expected to remain resilient, buoyed by falling interest rates, stabilising inflation, and a rebound in household spending.

    Global Landscape: A New Economic Era

    CBA economists describe the current global environment as a departure from the stability of the “Great Moderation,” likening it instead to the economic volatility seen in the 1970s. The report notes:

    “Conflict, volatility, and economic nationalism will remain defining features of the global economy in FY26.”

    US trade policy is a major source of uncertainty. Tariff rates have tripled since 2024, and further hikes could again disrupt markets. Despite these tensions, the report highlights a willingness among global powers to avoid a full-scale breakdown of economic ties between major economies:

    “The US and China chose to step back from the brink and avoid full economic decoupling — for now the costs are simply too high.”

    Domestic Outlook: On the Path to a Cautious Recovery

    Australia’s economic growth is expected to step up from 1.3% to 2.3% by June 2026, with inflation settling in the RBA’s target band. In light of this, CBA economists expect the RBA to deliver 25 basis point rate cuts in both July and August, bringing the cash rate to 3.35% and then hold at those neutral levels.

    However, consumer behaviour remains a wildcard. While discretionary spending is beginning to recover, the report warns:

    “Consumers may be experiencing some scarring from the sustained cost-of-living crunch. This could see the recovery in household consumption disappoint in FY26.”

    https://youtu.be/bJt4917N5ts

    Key Tr

    MIL OSI – Submitted News –

  • MIL-OSI United Nations: International Financial Architecture Should Ensure ‘Voices of All Countries Are Represented’, Says Deputy Secretary-General, at Sevilla Round Table

    Source: United Nations General Assembly and Security Council

    Following are UN Deputy Secretary-General Amina Mohammed’s remarks at the opening of the multi-stakeholder round table, in Sevilla, Spain, today:

    One overarching message has come out strongly from this morning’s opening segment:  sustainable development has slowed and the assumption of future progress can no longer be assured.

    Countries across the globe are struggling to fulfil their development aspirations, exacerbated by an increasingly challenging global environment.

    As many speakers have stressed, to overcome this crisis we need large-scale investments in sustainable development.  That must be combined with the reset of systems and governance that puts countries in the driving seat to implement their national plans.

    Building on the Addis Ababa Action Agenda, the Sevilla Commitment sets out a renewed impetus for a financing framework to deliver on the Sustainable Development Goals (SDGs).

    The multistakeholder round tables, starting this afternoon, are an opportunity for leaders, ministers and other stakeholders to propose how they plan to implement the Sevilla outcome, across six priority areas.

    First, we must explore how to strengthen the mobilization of domestic resources.

    This means all countries raising revenue ratios to at least 15 per cent, fighting illicit flows and better aligning fiscal systems with sustainable development.  This will require domestic action combined with international support.  I am excited to hear your perspectives in the upcoming session this afternoon.

    Second, we must consider how we can fully tap the potential of private sector investment and innovation for sustainable development.

    The Sevilla Commitment puts the focus of private-capital mobilization on both quantity and quality.  I look forward to hearing how public and private actors intend to work together — to mobilize private investment at scale and to achieve the greatest impact.

    Third, amid falling aid budgets, we need to work towards a revitalized and reformed development cooperation architecture.

    An architecture that facilitates a shift from development assistance to investing in development.  That counters growing fragmentation.  And that incorporates all actors while placing developing countries at the centre.

    Fourth, with the global trading system under threat, we must send a strong signal — that supports the role of trade as an engine for development.  The Sevilla Commitment puts forward actions to leverage trade’s role, particularly for the most vulnerable countries, and including in strategic markets — such as critical minerals.

    Fifth, the Sevilla Commitment provides an ambitious set of actions to remake the debt architecture.  As one of the most critical deliverables of this conference, I look forward to hearing how stakeholders will urgently take forward these actions, as a priority.

    It is imperative that we take steps to ease the burden of debt service on struggling economies.  That we expedite the restructuring process when debt crises occur.  And that we prevent crises from unfolding in the first place.

    Last but not least, we must explore reform of the international financial architecture.  We need an architecture that is both effective and inclusive, in which the voices of all countries are represented.

    The Seville Commitment builds on the Pact for the Future, agreed by Heads of State at the UN General Assembly last September, and makes strides towards a more equal and just system for all countries.

    I commend you for coming to share your perspectives on transforming these ambitious commitments into reality, including within your countries. And I look forward to the discussions to follow.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Private Sector Partners Bring More Than Capital, ‘They Bring Creativity, Agility, Scale’, Deputy Secretary-General Tells International Business Forum

    Source: United Nations General Assembly and Security Council

    Following are UN Deputy Secretary-General Amina Mohammed’s remarks at the high-level session of the International Business Forum, in Sevilla, Spain, today: 

    It is a privilege to join you today at this pivotal moment for the future of development finance.

    Sadly, the world faces a sustainable development crisis.  Trade barriers are growing.  Aid budgets are shrinking.  Macroeconomic risks are mounting.  Debt burdens are dragging down growth.  Climate shocks are hitting harder and more often.  Development finance is at a critical inflection point.

    Official development assistance (ODA), long a cornerstone of international solidarity, declined by 7 per cent in real terms last year.  And further cuts are already on the table.

    But, the real picture is even starker.  Much of what is counted as ODA today is being redirected to cover domestic priorities, not long-term Sustainable Development Goals (SDG) investments.  At the same time, the SDG financing gap has ballooned to $4 trillion a year.

    Yet, amid this sobering reality lies an opportunity:  An opportunity to reimagine development finance for the world we live in now.  To move from a model built on assistance, to one driven by purpose and partnership.  From international assistance, to strategic, sustainable investment.

    In this new vision, public finance, national and international, remains essential.  Especially in sectors where market incentives are weak, but human needs are immense, like education, health, social protection.

    But public finance alone cannot carry the weight.  It must be used to unlock and leverage private investment, at scale and with speed.  The question we need to answer is clear:  What will it take for private capital to flow where it is most needed?

    The outcome document of the fourth International Conference on Financing for Development, the “Sevilla Commitment”, puts forward a compelling action agenda that seeks to answer this question.

    First, we need an enabling business environment, supported by strong institutions, policy coherence and investment pipelines.

    Second, we need better blended finance vehicles that deliver sustainable development impact and align with developing countries’ national priorities.  This requires standardizing blended finance with replicable and scalable structures, a ready pipeline of bankable projects and more transparency in the development outcomes of transactions.

    Third, we need financial innovation.  Equity instruments.  Auction mechanisms.  Creative tools that allow public and private actors to share risk and reward more fairly.

    Fourth, we must scale up aggregation platforms that expand catalytic capital and reduce transaction costs by pooling resources from international financial institutions.

    Fifth, it is time to reassess prudential regulations that may unintentionally discourage long-term investments in developing countries. We need to engage with regulators to ensure risk is not mispriced and regulation enables greater use of risk-sharing tools.

    Let’s be clear:  we must dramatically expand our sources of development capital, and we must do so urgently and intentionally.  This is why the United Nations calls on all actors across the investment ecosystem to join us in a long-term, collaborative effort to reshape development finance.

    At the UN, we are taking concrete steps to strengthen partnerships to unlock capital for sustainable development.  Platforms such as the Global Investors for Sustainable Development Alliance are bringing together private investors, foundations, policymakers and leaders across the development finance spectrum.  These leaders can shape sustainable finance frameworks, identify investment barriers and pilot innovative solutions.

    Working together, we can coordinate action, amplify impact and accelerate the global shift towards long-term, responsible development finance. Private sector partners bring more than capital.  They bring creativity, agility and scale.  They can power the transition to green energy, accelerate digital inclusion and revolutionize service delivery.

    Philanthropic partners are also uniquely positioned to take risks others cannot, test innovations and address gaps that markets and Governments may not reach.  They can back new models and ideas in early stage projects or help unlock larger flows of investment by building proof points and trust.

    Above all, our financing systems must work for those who have historically been excluded, and on a practical level that means that means removing structural barriers that keep capital out of the hands of women-led businesses, youth innovators and underserved communities.

    This is not about making tweaks here and there.  It is about rethinking the fundamentals.  The current financial system was not built for today’s world.  Let alone tomorrow’s.  We need a system that allocates capital not only by profit, but by purpose; not only by returns, but by impact.

    The next chapter of development finance is not yet written.  But, it must be a shared story written by all of us and accountable to all people.  So, let’s seize this moment and step into this new era not as donors or beneficiaries, but as equal partners, and deliver on the promise of sustainable development.  On behalf of the United Nations, I thank you for your leadership, your ideas and your resolve.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: ‘Break Cycle of Debit’ Urges Deputy Secretary-General at Financing for Development Conference Special Event, Calling for Common Agenda

    Source: United Nations 4

    Following are UN Deputy Secretary-General Amina Mohammed’s remarks at the special event “Forging a Common Agenda to Achieve Debt Sustainability in Developing Countries”, in Sevilla, Spain, today:

    Ten years after countries adopted the Sustainable Development Goals (SDGs), development faces formidable headwinds:  slowing global growth, the threat of a trade war and repeated global shocks from climate and conflict.

    But, the most unsettling challenge facing developing countries is the debt crisis.  Borrowing is critical for development.  It provides a means for Governments to invest boldly in a better future for their people.

    It is especially critical at a time when all countries are required to undertake one-off generational investments to green their economies and build twenty-first-century digital infrastructure.

    But, today, borrowing is not working for development. Over two thirds of low-income countries are either in debt distress or at high risk of it; 3.4 billion people live in countries that spend more on interest payments than on health or education.

    The debt crisis is a silent crisis in two respects.  First, the crisis doesn’t impact the lives or economies of those in advanced economies.  The immediate effects of the crisis are contained and do not threaten the stability of global financial markets.

    Second, among global policymakers, there is a striking reluctance to acknowledge the crisis for what it is, perhaps driven by the increasingly unlikely hope that the problem will solve itself if interest rates came down.

    However, I’m pleased to report that, thanks to many of you, this is now starting to change.  Over the last several months, we’ve seen the launch of several bold initiatives — the African Leaders Debt Relief Initiative, the Expert Review on Debt, Climate and Nature, the Jubilee Commission and the Secretary-General’s Expert Group on Debt — that are making crisis increasingly hard to ignore.

    And through the Sevilla Conference and its outcome document, and the ongoing work of the South African Group of 20 (G20), this crisis is finally being seen and heard.  These efforts have laid bare the shortcomings of our debt architecture, and the harms they are causing in developing countries.

    They also identify actions that can arrest the debt crisis and enable debt to fulfil a supportive role in countries’ development success.  Now that we are finally getting the attention of policymakers, we still face the challenge of compelling action.

    Let me propose three things we, as a community, must do moving forward.

    First, consolidate our message and asks.  We have a rich set of analyses and recommendations but must find ways of bringing these together.  This includes borrowing language and recommendations from the Seville outcome document and bringing it forward into the outcome documents of this year’s G20 and the thirtieth session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30).

    Second, everyone must do their part.  For instance, Spain has shown outstanding leadership on promoting debt swaps and debt pauses.  The UN stands ready to advance member states’ call for the creation of a platform for borrowers to share experience, build capacity and coordinate approaches and strengthen borrower countries’ voices.

    Third and finally, we must continue to expand our coalition. This includes winning the support of the leading board members at the international financial institutions.  It also means mobilizing civil society, as envisaged by the Jubilee campaign.

    With these three steps, I believe we can break the cycle of debt together and usher in a new era of debt sustainability for all countries.

    MIL OSI United Nations News –

  • MIL-OSI Africa: Hlabisa to present CoGTA Budget Vote to NCOP

    Source: South Africa News Agency

    The Minister of Cooperative Governance and Traditional Affairs (CoGTA), Velenkosini Hlabisa, will officially present Budget Vote 3 for the department before the National Council of Provinces (NCOP). 

    The budget will be delivered on Wednesday at 2 pm, under the theme “Every Municipality Must Work.”

    The Minister will be joined by Deputy Minister of CoGTA, Dr Namane Dickson Masemola.

    The budget presentation and engagement forms part of Parliament’s oversight function, providing a platform to transparently present the department’s financial allocations and strategic direction for the 2025/26 financial year.

    According to the department, the budget vote presentation will provide detail key areas of expenditure, offering a comprehensive breakdown of how the department’s resources will be allocated to drive impactful governance. 

    Central to the presentation will be CoGTA’s commitment to addressing critical challenges within local government, including capacity building, governance improvement, and enhanced service delivery mechanisms.

    Hlabisa is also expected to highlight strategic priorities aimed at strengthening the functionality of municipalities nationwide. 

    These include strengthening financial management practices, addressing infrastructure backlogs, and improving intergovernmental relations to create a cohesive framework for sustainable development. 

    “The Minister will also outline the department’s targeted interventions to promote accountability, innovation, and ensure municipalities are well-equipped to meet the evolving needs of communities.” 

    In line with the theme, the presentation will emphasise the importance of collaborative efforts between all spheres of government to achieve integrated development.

    Members of the public may follow proceedings live on Parliament TV (DStv channel 408), or via live stream on the department and Parliament’s YouTube channels, Facebook, and Twitter pages. – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI Europe: Positive progress of NRRP: European Commission gives positive assessment for payment of seventh instalment worth EUR 18.3 billion

    Source: Government of Italy (English)

    Italy today received the European Commission’s positive assessment for payment of the seventh instalment of its National Recovery and Resilience Plan (NRRP), worth EUR 18.3 billion, with all required milestones and targets having been successfully met. The recent technical revision of the NRRP combined three objectives, related to measures regarding renewables, batteries and reform of the financial risk associated with renewable energy purchase agreements, into a single milestone, meaning 64 goals were planned and reached for this instalment: 31 milestones and 33 targets.

    “With the payment of the seventh instalment, Italy will confirm its leading position in Europe in terms of the progress of its NRRP, with over EUR 140 billion received, corresponding to 72% of the Plan’s total resources and 100% of the planned objectives for the first seven instalments, amounting to 334 milestones and targets, all of which have been achieved fully respecting the timeline set by the Commission. This is also a qualitative record, as we have demonstrated our ability to use the instruments Europe has provided us with in a virtuous way, becoming a model for other Member States.
    We should all be proud of the great work we have done so far. Our work is certainly not over; in fact, it must continue with the same determination, for an increasingly modern, productive and competitive nation that is strong and inclusive, aware of and ready for the global challenges of today and tomorrow”, stated President of the Council of Ministers Giorgia Meloni.

    The objectives achieved for the seventh instalment include several reforms, such as the competition law, measures to speed up public administration payments, and a review of the ‘universal civil service’. 

    “Several strategic investments are linked to the seventh instalment – stated the Minister for European Affairs, the NRRP and Cohesion Policy, Tommaso Foti – including the new power interconnection between Sardinia, Corsica and the mainland (SA CO I.3), and the undersea power connection between Sicily, Sardinia and the mainland (Tyrrhenian Link). These infrastructure projects are crucial to implementing electricity transmission grids and strengthening Italy’s energy independence, with the goal of guaranteeing energy for households and businesses at more favourable conditions.
    The positive assessment for the payment of this instalment follows submission of the payment request for the eighth instalment, confirming the Italian Plan is in line with Europe’s NRRP roadmap, in full respect of its commitments, priorities and the final deadline of August 2026”.

    In addition to investments in energy infrastructure, other significant measures include: expansion of the fleet of zero-emission buses and trains for regional transportation and the strengthening of metropolitan hubs and major national links; the upgrading of many railway stations; cybersecurity measures; the launch of 480 ‘local operational centres’ (‘Centrali Operative Territoriali’, ‘COT’) to improve public health services; investments to better manage water resources; the assignment of 55,000 university study grants to deserving, underprivileged students; 7,200 PhD research scholarships and another 6,000 innovative PhD scholarships dedicated to business.

    MIL OSI Europe News –

  • Youth turning entrepreneurs with government-backed training & startup support

    Source: Government of India

    Source: Government of India (2)

    n a fast evolving economic landscape, youth entrepreneurship is fast gaining momentum, driven by government-backed initiatives focused on skill development and startup support. With various schemes in place and partnerships between local administrations and organizations like SkillingYou, young Indians are being equipped with practical training, business mentorship, and financial guidance.

    These efforts aim to foster self-reliance, reduce unemployment and encourage innovation at the grassroots level. By providing structured support- from aptitude testing to startup launch assistance, the government is enabling a new generation of entrepreneurs who can contribute meaningfully to country’s growth story.

    At district level also, such efforts are being made by the state administrations. To encourage entrepreneurship among the youth of the district, the District Industries Center (DIC) Ghaziabad and SkillingYou, an organization known for its quality technical and educational training, have signed an agreement.

    Through this partnership, young people will get practical business knowledge, structured training, mentorship, and continuous support to help them start and grow their own ventures. Under the Mukhyamantri Yuva Udhyami Loan Yojana, eligible youth will also be guided in securing financial assistance for their businesses.

    The agreement was formalized in the presence of Abhinav Gopal (IAS), Chief Development Officer (CDO), Ghaziabad, who played a key role in shaping this initiative. Also present were Nath Paswan, General Manager, DIC Ghaziabad, and Praveen Kumar Rajbhar, Founder and CEO, SkillingYou.

    CDO Abhinav Gopal said, “We want our youth to have the right training and mentorship so they can confidently set up their businesses. Real change happens when timely information and support reach the right people.”

    The program begins with the selection of youth who wish to start their own businesses, for which they will fill out an application form. After applying, they will take a free Yuva Udhyami Aptitude Test through the SkillingYou mobile app to assess their skills in areas such as market understanding, business knowledge, learning mindset, risk-taking ability and financial awareness. Based on the test results, selected participants will be provided with a one-month business training program covering everything from launching a startup to marketing, sales, finance, legal requirements, social media, and the use of AI in business.

    After completing the training, they will receive certificates. Further support will be provided to help them access government loan schemes and set up their businesses with step-by-step guidance and handholding. This initiative is expected to boost new enterprises, create employment opportunities, and strengthen economic growth across the district.

  • Youth turning entrepreneurs with government-backed training & startup support

    Source: Government of India

    Source: Government of India (2)

    n a fast evolving economic landscape, youth entrepreneurship is fast gaining momentum, driven by government-backed initiatives focused on skill development and startup support. With various schemes in place and partnerships between local administrations and organizations like SkillingYou, young Indians are being equipped with practical training, business mentorship, and financial guidance.

    These efforts aim to foster self-reliance, reduce unemployment and encourage innovation at the grassroots level. By providing structured support- from aptitude testing to startup launch assistance, the government is enabling a new generation of entrepreneurs who can contribute meaningfully to country’s growth story.

    At district level also, such efforts are being made by the state administrations. To encourage entrepreneurship among the youth of the district, the District Industries Center (DIC) Ghaziabad and SkillingYou, an organization known for its quality technical and educational training, have signed an agreement.

    Through this partnership, young people will get practical business knowledge, structured training, mentorship, and continuous support to help them start and grow their own ventures. Under the Mukhyamantri Yuva Udhyami Loan Yojana, eligible youth will also be guided in securing financial assistance for their businesses.

    The agreement was formalized in the presence of Abhinav Gopal (IAS), Chief Development Officer (CDO), Ghaziabad, who played a key role in shaping this initiative. Also present were Nath Paswan, General Manager, DIC Ghaziabad, and Praveen Kumar Rajbhar, Founder and CEO, SkillingYou.

    CDO Abhinav Gopal said, “We want our youth to have the right training and mentorship so they can confidently set up their businesses. Real change happens when timely information and support reach the right people.”

    The program begins with the selection of youth who wish to start their own businesses, for which they will fill out an application form. After applying, they will take a free Yuva Udhyami Aptitude Test through the SkillingYou mobile app to assess their skills in areas such as market understanding, business knowledge, learning mindset, risk-taking ability and financial awareness. Based on the test results, selected participants will be provided with a one-month business training program covering everything from launching a startup to marketing, sales, finance, legal requirements, social media, and the use of AI in business.

    After completing the training, they will receive certificates. Further support will be provided to help them access government loan schemes and set up their businesses with step-by-step guidance and handholding. This initiative is expected to boost new enterprises, create employment opportunities, and strengthen economic growth across the district.

  • Youth turning entrepreneurs with government-backed training & startup support

    Source: Government of India

    Source: Government of India (2)

    n a fast evolving economic landscape, youth entrepreneurship is fast gaining momentum, driven by government-backed initiatives focused on skill development and startup support. With various schemes in place and partnerships between local administrations and organizations like SkillingYou, young Indians are being equipped with practical training, business mentorship, and financial guidance.

    These efforts aim to foster self-reliance, reduce unemployment and encourage innovation at the grassroots level. By providing structured support- from aptitude testing to startup launch assistance, the government is enabling a new generation of entrepreneurs who can contribute meaningfully to country’s growth story.

    At district level also, such efforts are being made by the state administrations. To encourage entrepreneurship among the youth of the district, the District Industries Center (DIC) Ghaziabad and SkillingYou, an organization known for its quality technical and educational training, have signed an agreement.

    Through this partnership, young people will get practical business knowledge, structured training, mentorship, and continuous support to help them start and grow their own ventures. Under the Mukhyamantri Yuva Udhyami Loan Yojana, eligible youth will also be guided in securing financial assistance for their businesses.

    The agreement was formalized in the presence of Abhinav Gopal (IAS), Chief Development Officer (CDO), Ghaziabad, who played a key role in shaping this initiative. Also present were Nath Paswan, General Manager, DIC Ghaziabad, and Praveen Kumar Rajbhar, Founder and CEO, SkillingYou.

    CDO Abhinav Gopal said, “We want our youth to have the right training and mentorship so they can confidently set up their businesses. Real change happens when timely information and support reach the right people.”

    The program begins with the selection of youth who wish to start their own businesses, for which they will fill out an application form. After applying, they will take a free Yuva Udhyami Aptitude Test through the SkillingYou mobile app to assess their skills in areas such as market understanding, business knowledge, learning mindset, risk-taking ability and financial awareness. Based on the test results, selected participants will be provided with a one-month business training program covering everything from launching a startup to marketing, sales, finance, legal requirements, social media, and the use of AI in business.

    After completing the training, they will receive certificates. Further support will be provided to help them access government loan schemes and set up their businesses with step-by-step guidance and handholding. This initiative is expected to boost new enterprises, create employment opportunities, and strengthen economic growth across the district.

  • MIL-OSI Russia: Young CCP members become torchbearers of the country’s future

    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

    BEIJING, July 2 (Xinhua) — Despite a busy schedule of exams and end-of-semester papers, Lin Jiajun finds time every day to read articles in Qiushi, a leading journal of the Communist Party of China Central Committee, to study the latest policies and guidelines for rural development in the country.

    The 22-year-old student majoring in urban and rural planning at Nanjing University of Technology in east China’s Jiangsu Province applied to join the Communist Party of China two years ago and plans to work in a field related to rural revitalization strategy after graduation.

    While doing fieldwork in Chinese villages earlier this year, Guangzhou, capital of Guangdong Province in southern China, native Lin Jiajun was deeply moved by what he saw.

    Like many young Chinese, he is inspired and proud of the Party’s work in rural areas: between 2013 and 2020, China lifted nearly 99 million rural people out of poverty, contributing more than 70 percent to global poverty reduction during that period.

    To consolidate the achievements in the fight against poverty, the party is now implementing a rural revitalization strategy in rural areas.

    “The CCP was the driving force behind this transformation. I remember reading in high school about how young party members, many of them college graduates, would go to villages to support local communities,” Lin Jiajun said.

    “There is still so much work to be done in the villages and I want to be part of that process,” he added.

    Like Lin Jiajun, a growing number of young Chinese are applying to join the party, inspired by its ideals and the country’s development prospects.

    Newly released data showed that more than 1.78 million people under the age of 35 joined the CPC, which celebrated its 104th anniversary on Tuesday, in 2024, accounting for 83.7 percent of the party’s net membership growth for the year.

    By the end of 2024, the number of young Party members in this age group exceeded 23 million, accounting for more than one-fifth of the total CPC membership.

    As a dynamic force, these members play a key role in the CPC’s modernization efforts. Since scientific and technological innovation is the centerpiece of China’s modernization, the Party aims to build a strong country in science and technology by 2035.

    In this process, the Communist Party emphasizes the role of young professionals, entrusting them with responsible tasks within the framework of major national initiatives.

    In 2020, during preparations for the launch of China’s Long March-5 carrier rocket at the Wenchang Satellite Launch Center in southern China’s Hainan Province, 24-year-old Zhou Chengyu, the first female subsystem commander at the site, calmly directed operations.

    Zhou Chengyu’s rise through the ranks was rapid. In two years, she participated in five major launches, each in a different role, before being named commander.

    The young woman lived up to the trust placed in her. During one mission, she had to climb more than 180 nearly vertical steel steps to reach an 8-square-meter test chamber filled with cables and pipes.

    She made four such climbs a day for 60 days. In recognition of her dedication and results, her position was later designated as a “vanguard party member post.”

    “I have chosen the right path. As a representative of the younger generation of Chinese, our aspirations must go hand in hand with the goals of the country,” the young commander said.

    Official data show that the average age of key scientists behind China’s BeiDou satellite navigation system, quantum research and FAST radio telescope project is around 30.

    Indeed, a new generation of CPC members is coming to the forefront, responding to the demands of the times and realizing their potential.

    Deng Wenhao, a Communist Party member and doctoral student at Taiyuan University of Technology in north China’s Shanxi Province, remembers the day in 2024 when he gave a presentation at the United Nations headquarters in New York on his team’s technology aimed at solving climate change and food security.

    “It was incredibly exciting to turn the knowledge I had gained into something meaningful. There is no greater reward for a researcher,” he said.

    Born in 1991 in Datong, a traditional coal-producing city in Shanxi Province, Deng Wenhao grew up seeing how coal and coal-fired power plants affected people’s lives. Because his grandparents were farmers, he also saw vast stretches of barren, salt-marsh land covered in what he remembers as a “crust of salt.”

    When his supervisor suggested exploring more natural methods of capturing carbon emissions, Deng Wenhao immediately thought of these saline soils. “I thought, why not capture carbon emissions and use them to reclaim alkaline soils?” he said.

    His department found the idea unconventional, but the proposal received support. Li Ping, secretary of the CPC committee of the School of Safety Engineering and Emergency Management at Taiyuan University of Technology, said the topic met the needs of the local economy.

    “We encourage our researchers to innovate and solve practical problems. We do not limit them in their choice of research direction,” Li Ping added.

    “The CCP is constantly innovating and adapting to the spirit of the times. It is full of energy and vitality, and that is why it attracts so many young people,” Deng Wenhao said. -0-

    MIL OSI Russia News –

  • MIL-Evening Report: Politics with Michelle Grattan: Kerrynne Liddle on seizing more opportunities with Indigenous Australians

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

    From this Sunday, Australians will be celebrating NAIDOC Week, which marks its 50th anniversary this year.

    The week highlights the achievements, history and culture of Australia’s First Peoples. It’s also a time to reflect on the huge effort needed to materially improve the lives of Indigenous communities and individuals.

    On this podcast, we’re joined by Senator Kerrynne Liddle, an Arrernte woman and the first Aboriginal federal parliamentarian from South Australia. Senator Liddle is shadow minister for Indigenous Australians and shadow minister for social services on Opposition Leader Sussan Ley’s frontbench.

    On the Closing the Gap targets, which shows progress being made on only four of the 19 targets, Liddle says a stronger focus is required on early intervention.

    Across all of these areas we know that a very small amount of money goes into prevention and early intervention. And if I take incarceration specifically, in the prison system, we know that 60% of people that are in there actually are often return people. So recidivism is a major issue.

    When you look at the reason why many people are in custody, it is because of violence. So addressing the key issue of violence – hopefully before it begins – is going to be really, really important here.

    But also responding quick enough to support those victim-survivors, who need to be able to remove themselves from that situation, or remove the perpetrator from that situation. That’s going to be crucial for people to able to improve outcomes for themselves. Because if there is much disruption and dysfunction in a family, everyone is affected.

    Liddle says the problems are known, but money isn’t getting to the right places fast enough.

    Only two weeks ago, I was in Mutitjulu in Central Australia, at Uluru. People there were talking about how infrastructure is failing to keep up with demand. They were talking about how people struggle to navigate the service system. They talk about how children don’t have enough activities out of school and they didn’t have enough sports and recreation people.

    This is not new, these are things we hear over and over again. The frustration is money flowing, in a timely manner, and actually ensuring that there is accountability that the money has flowed effectively and for the purpose that it was intended.

    Liddle says her focus will remain on having those “unpleasant conversations” focused on real outcomes, rather than on symbolic causes.

    I just want to say that conversations about acknowledgement of country, welcome to country, and the flags frustrate me when I know that there are children who are deaf before they actually get to school. There are children who aren’t attending school. There are children who are hungry and are finding themselves wandering the streets at night, because it’s not safe to go home.

    They’re the kinds of things I want to continue to talk about, because those are the issues that affect children every single night.

    Drawing on her experience before entering politics, Liddle says helping Indigenous workers integrate into the broader economy can improve personal outcomes.

    These are not intractable [problems]. We can find solutions. I saw that myself, when I was working at [Indigenous tourism company] Voyages. I saw it when I was working in Santos. There were so many good stories about people that just wanted an opportunity. And when it was given to them in sufficient measure, with the right supports that they needed to be successful, they took it up every single time.

    And what was really valuable for them was they were part of the general economy. They were part of the general society. They were a part of the workplace.

    They weren’t relegated to a special Aboriginal employment programme that they could sit on for the rest of their life. It was about saying, ‘you know what? You belong in the economy with all of us and here’s a place for you and we’re going to help you to take that up’. As a person who’s worked in this area, it is extremely satisfying when you identify that opportunity, create that opportunity, and people do respond to that opportunity.

    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. Politics with Michelle Grattan: Kerrynne Liddle on seizing more opportunities with Indigenous Australians – https://theconversation.com/politics-with-michelle-grattan-kerrynne-liddle-on-seizing-more-opportunities-with-indigenous-australians-260288

    MIL OSI Analysis – EveningReport.nz –

  • India’s captive and commercial coal mines register strong growth in June 2025

    Source: Government of India

    Source: Government of India (4)

    Coal production from India’s captive and commercial mines reached 15.57 million tonnes (MT) in June 2025, while coal dispatches stood higher at 17.31 MT, according to data released by the Ministry of Coal.

    The first quarter of the financial year 2025–26 has shown robust year-on-year growth, with production rising by 16.39% and dispatches by 13.03% compared to the same period last year. The Ministry attributes this positive trend to enhanced operational efficiency and better utilization of mining capacity across the sector.

    The Ministry also highlighted consistent improvement in performance over the last three years, with steady growth in both coal production and dispatch levels at the end of each Q1 period. A comparative graph has been shared to illustrate these gains.

    Among key developments in June 2025, mine opening permission was granted for the Utkal A Mine, which has a maximum mining capacity  of 25 million tonnes. Additionally, vesting orders for three coal blocks were issued, bringing the total number of allocated coal blocks to over 200.

  • India’s captive and commercial coal mines register strong growth in June 2025

    Source: Government of India

    Source: Government of India (4)

    Coal production from India’s captive and commercial mines reached 15.57 million tonnes (MT) in June 2025, while coal dispatches stood higher at 17.31 MT, according to data released by the Ministry of Coal.

    The first quarter of the financial year 2025–26 has shown robust year-on-year growth, with production rising by 16.39% and dispatches by 13.03% compared to the same period last year. The Ministry attributes this positive trend to enhanced operational efficiency and better utilization of mining capacity across the sector.

    The Ministry also highlighted consistent improvement in performance over the last three years, with steady growth in both coal production and dispatch levels at the end of each Q1 period. A comparative graph has been shared to illustrate these gains.

    Among key developments in June 2025, mine opening permission was granted for the Utkal A Mine, which has a maximum mining capacity  of 25 million tonnes. Additionally, vesting orders for three coal blocks were issued, bringing the total number of allocated coal blocks to over 200.

  • MIL-OSI United Kingdom: Customers to receive up to £2000 for water service failures

    Source: United Kingdom – Executive Government & Departments

    Press release

    Customers to receive up to £2000 for water service failures

    Uplifts to Guaranteed Service Standard Scheme will result in up to tenfold increase for customer compensation when they’ve been failed by water companies

    • Increase to water company reimbursements put more money back into customers’ pockets when their services are hit
    • Triggers for compensation to be expanded to include company failure to conduct meter readings and installations
    • One of Environment Secretary’s first promises in office delivered as government rolls out plan to reform the water sector

    Water companies will increase compensation payments to customers up to tenfold from today (2 July), ensuring that the public are more fairly reimbursed for supply issues and low standards of service.  

    Customers will automatically receive more money for issues such as continued low water pressure and cancelled appointments. 

    A key step in the government’s mission to reform the water sector, the move marks the first uplift in compensation rates in 25 years, with the government recognising the urgent need to bring payments in line with inflation and properly compensate households for poor service. 

    Severe issues such as flooding will see customer compensation double from £1,000 to up to £2,000, while households suffering consistent low water pressure will be automatically eligible to receive up to £250 – a huge uplift from the previous compensation rate of just £25.  

    From today, no action will be needed from eligible customers as payments will automatically be credited back to their accounts. 

    Environment Secretary Steve Reed said:  

    Too many water companies are letting down their customers – with leaking pipes, poor water supply and low water pressure.  

    The Government is holding water companies to account by making them put money back into people’s pockets when they fail their customers.

    The government is also working with water companies to expand the list of circumstances that will trigger compensation payments. Compensation for when customers are asked to boil their water due to contaminated supply will come into force later this year. 

    The standards, outlined in the Guaranteed Standards Scheme, set out a baseline for customer service in the water sector. They include providing timely restoration of water supply following an interruption, responding to written complaints and managing the risk of sewer flooding.  

    This comes as part of the government’s action to cut sewage spills and attract investment in the sector, including:  

    • Strengthening regulation to ensure polluting water bosses who cover up their crimes now face two-year prison sentences.
    • Banning unfair bonuses for bosses of six polluting water companies.
    • Launching a record 81 criminal investigations into sewage pollution.
    • Securing £104bn in private sector investment to upgrade crumbling sewage pipes and cut sewage by nearly half by 2030.
    • Launching the Independent Water Commission led by Sir John Cunliffe to modernise the water industry and work with companies and their investors to make the industry one of growth and opportunity.

    Mike Keil, Chief Executive of the Consumer Council for Water (CCW), said:  

    Customers expect to be treated fairly when their water company lets them down, so we’re delighted the Government has moved at pace to strengthen service standards.”  

    This should give people peace of mind they now have far stronger protection from a much broader range of water company service failures – from the slow installation of water meters to the mishandling of debt recovery. As well as bolstering payments for thousands of customers, these changes mark an important step towards restoring trust in the water sector which is at an all-time low.

    David Black, Chief Executive of Ofwat said: 

    We welcome these improvements to guaranteed standards and payments for customers. 

    When customers suffer from problems like low pressure, disruptions to supply or sewer flooding they can experience major stress and inconvenience, and payment amounts must recognise the disruption to their lives when standards are not met.  

    These new changes are another way to make sure customers are protected when companies get it wrong.

    Annex A

    Summary of updates to payment levels for existing standards:

    Existing Standards Coming into force date Old GSS payment New GSS payments Uplift
    Household Non-Household Household Non-Household Household Non-Household
    Appointments not made properly 2 July £20 £40 100%
    Appointments not kept Uprated payments to existing standard – 2 July
    Amended standard 1 Oct    		 £20 £50 150%
    Account queries not actioned on time Uprated payments to existing standard – 2 July
    Amended standard 1 Oct    		 £20 £40 100%
    Requests to change payment arrangements not actioned on time Uprated payments to existing standard – 2 July
    Amended standard 1 Oct    		 £20 £40 100%
    Complaints not actioned on time Uprated payments to existing standard – 2 July
    Amended standard 1 Oct    		 £20 £40 100%
    Less than 48 hours’ notice of planned supply interruption of more than 4 hours 2 July £20 £50 £50 £100 150% 100%
    Supply not restored on time 2 July £20, and £10 for each subsequent 24 hours £50, and £25 for each subsequent 24 hours £50, and £50 for each subsequent 12 hours £100, and £100 for each subsequent 12 hours 150% for initial payment,
    400% for subsequent payment and halved subsequent payment period    		 100% (for both initial and subsequent payment)
    and halved subsequent payment period
    Low pressure 2 July £25
    (once per financial year)    		 £50, up to five payments per financial year – equivalent to just over the average water bill.
    Automatic £250pa for customers with ongoing low pressure    		 100% and increased annual maximum by 10x
    Internal flooding from sewers 2 July Payment equal to annual sewerage charges
    (Minimum payment of £150. Maximum of £1000)    		 Payment equal to annual sewerage charges, at minimum of £300 and maximum of £2000 Min and Max increased by 100%, with provision for repeated incidents in a year to warrant further increases to the maximum (see fig 1)
    External flooding from sewers 2 July Payment equal to 50% of annual sewerage charges
    (Minimum payment of £75. Maximum of £500)    		 Payment equal to 50% of annual sewerage charges, at minimum of £150 and maximum of £1000 Min and Max increased by 100%, with provision for repeated incidents in a year to warrant further increases to the maximum (see fig 1)
    Failure to make automatic GSS payment 2 July £10-20 depending on standard £10-50 depending on standard £40 £100 100-200% depending on standard, consolidating all payments to one value for households and one value for non-households

    Figure 1 –Repeat Sewer Flooding payment bands

    Max Min
    Internal Sewer Flooding £2000 + £500 per repeat occurrence within 12 months £300 + £100 per repeat occurrence within 12 months
    External Sewer Flooding £1000 + £250 per repeat occurrence within 12 months £150 + £50 per repeat occurrence within 12 months

    Summary of new standards

    New Standard Coming into force Information GSS payments
    Household Non-Household
    Core Priority Services 1 Oct The company must keep a list of customers whose circumstances (such as medical or disability) are such that they require additional services to be provided in certain circumstances.

    The company must provide the relevant service to the customer in response to an incident and must inform the customer if they are added to the Core Priority Services Register.

    		 £100 N/A
    Domestic Customer in Arrears 1 Oct Giving information relating to the customer’s non-payment to a Credit Reference Agency or beginning legal proceedings to recover the debt without giving the customer an ‘outstanding charges notice’ and an opportunity to make payment arrangements or make representations in connection with them. £150 N/A
    Reading of Meters 1 Oct The water company must read a customer’s water meter (excluding smart meters) at least once every 13 months £40 (£80 for each subsequent 13-month period) £40 (£80 for each subsequent 13-month period)
    Moving to Measured Charging Supply of Water 1 Oct The water company must (subject to some exceptions) install a water meter upon request and then begin to charge the customer on the basis of the volume of water used.

    If the company fails to do this within the relevant time, the water company must pay the customer.

    		 Payment equivalent to charges payable in the period from the date that charging by volume should have started until meter fitted and charging by volume begins. N/A
    Water Quality Notices 1 Oct Payment is to be made to a customer if a water quality notice is served and supply is not restored by the end of a 48-hour period.

    		 If a notice is in place for longer than 48 hours, £40 plus £20 per additional 24 hours that the notice is in place, up to a maximum of the customer’s annual water supply (not including sewerage services) bill If a notice is in place for longer than 48 hours, £60 plus £40 per additional 24 hours that the notice is in place, up to a maximum of the customer’s annual water supply (not including sewerage services) bill
    Indexation 2 July The payment amounts will increase in line with the consumer price index when this increases by 10% (using September 2025 as the baseline) and rounded to the nearest £5

    Updates to this page

    Published 2 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: SEZ Technopolis Moscow leads the ranking of Russian industrial parks and special economic zones

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    For the fifth year in a row, the special economic zone (SEZ) Technopolis Moscow has been a leader in the rating of Russian industrial parks and special economic zones according to the analytical center (AC) Expert. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    The rating is formed annually. The main feature of the new, ninth study was the analysis of the level of customer focus of industrial sites as one of the key business requests during the period of global economic transformation.

    “The Technopolis Moscow SEZ is one of the most effective and sought-after tools for supporting the capital’s high-tech business. The companies of the special economic zone regularly create cutting-edge developments that work for the benefit of the entire country. Thus, based on the results of 2024, the rating analysts highly appreciated the contribution of the Technopolis Moscow SEZ to the economy of the Russian Federation, placing it in first place for this indicator. In addition, the Moscow SEZ confirmed its high level of customer focus, receiving the maximum rating score in the Services block,” said Maxim Liksutov.

    In addition, the study assessed the economic efficiency of the activities of management companies of industrial parks and special economic zones. SEZ “Technopolis Moscow” showed one of the best values of average profitability.

    “The Technopolis Moscow SEZ is not only a high-tech industrial infrastructure, but also a space for the development of human and personnel potential. The rating experts noted that in terms of the number of jobs created, the capital’s SEZ is comparable to the employment of a small city. At the moment, more than 22 thousand highly paid jobs have been created in the Moscow SEZ. Educational, sports and leisure events are regularly held for employees and visitors of the special economic zone,” emphasized the Minister of the Moscow Government, Head of the Department of Investment and Industrial Policy

    Anatoly Garbuzov.

    As Gennady Degtyarev, General Director of the Technopolis Moscow special economic zone, noted, the capital’s SEZ pays special attention to creating a favorable business environment. For this purpose, new infrastructure is being built, transport accessibility is being improved, and a wide range of services is being provided – from a resident’s personal account to consulting and marketing services. According to him, these measures contribute to the comprehensive socio-economic development of the capital’s special economic zone.

    Sobyanin: Technopolis Moscow will become one of the largest industrial centers in Europe

    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/156135073/

    MIL OSI Russia News –

  • MIL-OSI: PFMCrypto Launches Revolutionary “One-Click Mining”: Cloud-Based AI Mining for Everyone—Starting at Just $10

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 02, 2025 (GLOBE NEWSWIRE) — PFMCrypto, a global leader in AI-powered cloud cryptocurrency mining, has launched its groundbreaking “One-Click Mining” feature. With as little as $10, anyone can now start earning daily passive income in cryptocurrencies—no technical skills or equipment required.

    As the crypto market rebounds and major coins like XRP, Bitcoin, and Ethereum gain momentum, PFMCrypto’s new solution is designed for beginners, side-income seekers, and passive investors who want to earn from crypto without dealing with mining rigs, electricity bills, or market trading risks.

    What Is “One-Click Mining”?
    As the name suggests, users simply register, choose a mining plan, and start earning. Everything else is handled by PFMCrypto’s system.

    Powered by PFMCrypto’s proprietary AI engine AURA, the platform automatically shifts your mining power across top cryptocurrencies like XRP, BTC, ETH, and DOGE to ensure the highest possible daily returns.

    “We built this for people who want to earn from crypto without being crypto experts,” said the PFMCrypto CEO. “Whether you start with $10 or $10,000, now anyone can mine like a pro—with just one click.”

    Traditional Mining Hassles:
    – High hardware costs – Mining rigs and GPUs can cost thousands, pricing out most beginners.
    – Noise, heat, and space – Equipment is loud, generates heat, and takes up living or office space.
    – Sky-high electricity bills – 24/7 operation leads to power costs that can eat into profits.
    – Technical barriers – Setup involves wallets, software, and mining pools. One mistake, and you mine nothing.

    PFMCrypto’s One-Click Cloud Mining Advantage:
    – No equipment needed – Just log in with a phone or computer. No need to buy or install anything.
    – Zero maintenance, zero electricity costs – All mining runs in PFMCrypto’s secure enterprise-grade cloud infrastructure.
    – Daily stable earnings – The system automatically mines the most profitable coins for you in real time.
    – Instant withdrawals – Profits are available for withdrawal daily. No lock-ups. No waiting.
    – Start from just $10 – Perfect for beginners. Low entry, high convenience.

    Just Three Simple Steps to Start:
    1. Sign Up – Register at pfmcrypto.net and receive a free $10 welcome bonus
    2. Choose a Plan – Plans start at just $10, with short and long-term options
    3. Start Mining – Sit back and let PFMCrypto’s AI engine mine the most profitable coins for you

    Sample Mining Plans:
    $100 Plan – 2-day term – Earn $3.00 per day (+$2 bonus)
    $1,000 Plan – 9-day term – Earn $13.10 per day
    $5,000 Plan – 30-day term – Earn $78.50 per day
    $10,000 Plan – 40-day term – Earn $180.00 per day
    All plans guarantee full principal return at maturity. Profits can be withdrawn anytime during the contract term.

    Trusted by Over 9.2 Million Users in 192 Countries
    Since 2018, PFMCrypto has helped millions of users—from everyday investors to crypto professionals—generate passive income through smart mining strategies. The secure cloud-based platform supports mining for XRP, BTC, ETH, DOGE, LTC, and SOL.

    This year alone, PFMCrypto has seen mining contract purchases surge over 378%, reinforcing its position as the go-to platform for earning crypto without technical or trading barriers.

    “Whether you’re 18 or 80, if you have $10, you can start mining today. It’s really that simple,” added the PFMCrypto CEO.

    Ready to Get Started?
    PFMCrypto is offering limited-time bonuses for new users. Sign up now to receive $10 in free crypto and start earning daily profits through XRP and other top cryptocurrencies.

    About PFMCrypto
    Founded in 2018, PFMCrypto is a global leader in cloud-based cryptocurrency mining and AI-driven DeFi solutions. The platform supports mining for XRP, BTC, ETH, DOGE, LTC, and SOL, offering low-risk, high-reward crypto income opportunities to over 9.2 million users worldwide. Join the future of decentralized finance with PFMCrypto.
    Explore more at: https://pfmcrypto.net

    Media Contact:
    Amelia Elspeth
    PFMcrypto
    info@pfmcrypto.net

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f87cc4d8-dbe4-426c-b110-1cd470a43809

    The MIL Network –

  • MIL-OSI: Bitget Wallet Expands Fomo Thursdays With 10-Fold More Winners and Doubled Win Rate

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, July 02, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial crypto wallet, has launched the third round of its Fomo Thursdays series, expanding the prize pool and participant slots in response to heightened demand.

    The previous edition saw 20,000 slots claimed in under one hour, with over 2,000 winners. This week, Bitget Wallet has increased the number of participant slots to 100,000 and winner slots to 20,000, representing a 10-fold increase in winners and a doubled win rate of 20%. The prize pool has grown accordingly, with more than 24 million AB tokens allocated.

    “Fomo Thursdays continues to gain traction as a low-friction entry point for users to explore new tokens,” said Jamie Elkaleh, CMO of Bitget Wallet. “With expanded rewards, higher odds, and growing user interest, this week’s event marks another step toward making token launches more accessible.”

    Fomo Thursdays is a weekly token distribution program designed to simplify user participation in early-stage token launches. Each round follows a uniform format: users stake $10 USDT for a chance to receive randomized token allocations. The model removes traditional entry barriers such as trading requirements or point systems and returns all staked funds after the event, minimizing user risk. Token claims and refunds are processed via on-chain smart contracts.

    This week’s featured project is AB Token, a blockchain infrastructure protocol focused on bringing real-world assets (RWA) on-chain. Originally launched as the Newton Project in 2018, AB has evolved into a multichain ecosystem that connects traditional financial assets with blockchain-based applications. It comprises two layers: AB IoT, designed for IoT and DePIN applications, and AB-Core, an EVM-compatible chain supporting DeFi, GameFi, and RWA protocols.

    The AB rewards will be distributed via BNB Chain. Top prizes include three rewards worth $888 each and twenty second-place prizes worth $188 each, both in AB token equivalent. Participants can stake from July 2 at 13:00 to July 3 at 13:00 (UTC). Token distribution and USDT refunds will begin on July 3 at 14:00 (UTC), with all rewards delivered gas-free via Bitget Wallet.

    For more information, visit the Bitget Wallet official channels.

    About Bitget Wallet
    Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.
    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ab0d454-90c2-4a0a-b639-2cc0f449ebf5

    The MIL Network –

  • MIL-OSI United Kingdom: Council working with local accommodation providers to explore ways to support and manage effects tourism

    Source: City of Oxford

    Wednesday, 2 July 2025

    Oxford City Council is facilitating work with accommodation providers – including hotels and colleges – to explore how the city can better manage the effects of tourism while ensuring it remains a vibrant and popular place for residents and visitors.  

    Following an initial feasibility study and an independent report from The Mosaic Partnership in 2024, the Council now plans to appoint a consultant to help set up two task groups to explore the different options for the sector.  

    Supporting the next stage of this work could help identify projects and potential funding streams, including whether an Accommodation Business Improvement District (ABID) is appropriate and supported.  

    An ABID is not a tourist tax. Unlike models used in other countries, an ABID is a business-led initiative where accommodation providers decide whether to establish it and how the funds are spent. The levy is collected under Business Improvement District legislation, and funds would be controlled by the ABID board, not Oxford City Council or any other statutory or government body. 

    Initial research suggests that an ABID could unlock up to £10 million for additional projects, depending on criteria set by the task groups. 

    The Council will facilitate the next stage of the project with funding from the UK Shared Prosperity Fund (UKSPF), however it will have no say in whether any option is pursued, the final decision or how any money could be spent. 

    Comment  

    “Oxford’s accommodation sector plays a vital role in our city’s economy. Supporting the next stage of this project will give them the opportunity to shape projects and funding streams that work for them. 

    “This is a business-led initiative, and ultimately it will be up to accommodation providers whether to move forward or not, but it has the potential to unlock a lot of money to support them and make improvements that will benefit everyone.” 

    Councillor Alex Hollingsworth, Cabinet Member for Planning and Culture  

    MIL OSI United Kingdom –

  • MIL-OSI Video: ECB Forum on Central Banking 2025 – Day 2

    Source: European Central Bank (video statements)

    The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.

    It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.

    https://www.youtube.com/watch?v=lILvc719yNs

    MIL OSI Video –

  • MIL-OSI: Bitwise Lists NEAR Staking ETP on Xetra, Broadening Suite of Index-Based Staking Strategies

    Source: GlobeNewswire (MIL-OSI)

    • Bitwise NEAR Staking ETP is the latest addition to Bitwise’s European index-linked staking ETP suite — aiming to offer investors efficient, regulated exposure to NEAR, the Blockchain for AI.
    • NEAR Protocol: A high-performance, energy-efficient, layer-11blockchain built for the AI era—powering cross-chain interoperability and AI-native applications through fast, user-friendly infrastructure.
    • Staking: The Bitwise NEAR Staking ETP will seek to stake the NEAR tokens held by the product, with the objective of generating additional returns of approximately 5.5% net of fees and TER, while providing investors with daily liquidity on the stock exchange.

    02 July 2025. Frankfurt: Bitwise today announced the launch of the Bitwise NEAR Staking ETP (Ticker NEAR; ISIN DE000A4A5GV2) on Deutsche Börse Xetra. NEAR Protocol is a blockchain platform known for its approach to scalability, low-cost performance, and a user-first vision of decentralization – powering 45M+ monthly active users and 8M daily transactions2.

    The Bitwise NEAR Staking ETP is designed for both institutional and retail investors who are familiar with digital assets and seeking to diversify their portfolios. The launch marks another milestone in a series of product innovations designed to broaden investment access to the crypto market, provide high-quality investment solutions and timely market insights, and promote transparency and accountability in what is shaping up to be a landmark year for the crypto industry.

    The ETP is fully backed and issued in Germany, designed with the objective to deliver efficient staking returns, low total cost of ownership, and superior performance compared to other NEAR staking ETP solutions currently on the market. Staking yields accumulate daily in the ETP seeking to enhance performance. Using a robust and transparent benchmark, the CF NEAR Staked Return Index, investors can accurately track the performance of the ETP after costs and fees compared to the market standard NEAR staking return.

    The Biwise NEAR Staking ETP is the fourth to be launched as part of Bitwise’s European Total Return product suite including the Bitwise Ethereum Staking ETP (Ticker: ET32 | ISIN DE000A3G90G9), which recently surpassed €200 million in assets under management.

    Bradley Duke, Head of Europe at Bitwise, said: “We are so pleased to launch this new ETP in partnership with NEAR. There is a lot of noise in the world of crypto and we are excited to partner with a genuine innovator in both blockchain and AI. The Bitwise NEAR Staking ETP gives investors exposure to price movements in the NEAR token as well as compounded return from staking rewards all with Bitwise’s best-in-class ETP structure.”

    Illia  Polosukhin, Co-Founder NEAR Foundation: “NEAR was built to power a new kind of internet—one where AI serves people, not platforms. This ETP brings that vision closer to investors worldwide. By making NEAR more accessible through Bitwise’s trusted products, we’re accelerating mainstream adoption of user-owned AI infrastructure.”

    NEAR Protocol – a layer-1 blockchain designed for usability and scalability

    NEAR Protocol is a blockchain platform designed to make advanced technologies like artificial intelligence more accessible and useful. Launched in 2020, NEAR addresses common challenges in blockchain—like slow speeds and high costs—by using a technology called sharding to process many transactions at once.

    What sets NEAR apart is its focus on real-world usability: it lets people access apps and services with usernames—similar to email addresses—rather than traditional Web3 wallet codes. It also operates across different blockchains, aiming to simplify the transfer of assets and data between platforms. NEAR is already being used to power AI tools, digital wallets, and applications that give users greater control over their data and digital identity. Its architecture is particularly well-suited for AI, providing the speed, scalability, and data privacy required to support AI-powered applications and autonomous agents.

    In Q2 2025, NEAR ranked #2 among the most-used blockchain platforms in terms of monthly active users, just after Solana3. This growth is driven in part by NEAR’s chain abstraction technology, which makes it easier for people to use apps across different blockchains without needing multiple wallets or tokens. With chain signatures, users can access and control accounts on other blockchains directly through their NEAR account, making cross-chain activity simple and intuitive.

    Developers also benefit from NEAR’s infrastructure. Its customizable smart contracts support multichain financial applications using secure cryptographic tools—without the need for bridges or wrapped tokens, which can introduce risk and complexity.

    Staking NEAR

    Staking is a way to generate income for crypto asset owners, and is a key feature for NEAR. On the NEAR Protocol, staking allows token holders to help validate transactions on the network, contributing to its security and reliability. In return, they earn additional tokens – so called staking rewards—similar to how dividends work in traditional equities.

    For investors, the Bitwise NEAR Staking ETP may offer a streamlined way to gain exposure to staking rewards without managing the technical aspects of staking or token custody directly. While direct NEAR holders can stake through wallets or validators, the ETP offers distinct benefits—particularly daily liquidity, as it is traded on regulated stock exchanges and involves no lock-up periods or manual delegation. Additionally, the underlying NEAR tokens are held in secure cold storage by a professional institutional custodian, which offers an added layer of asset protection.

    Key Product Details

    ETP Name Bitwise NEAR Staking ETP
    Primary Ticker NEAR
    ISIN / WKN DE000A4A5GV2 / A4A5GV
    Index Benchmark CF NEAR Staked Return Index
    Expected NET Staking Reward 5.5%*
    TER 0.85% p.a.

    *The Net Staking Reward reflects the staking return after all fees (Staking Service Fee and TER) have been deducted, on a per-ETP unit basis. This figure represents the return the ETP is expected to deliver, expressed in annualised, non-compounded % terms. Note: The rate is subject to change based on network and market dynamics. The Net Staking Rewards are accumulated daily within the ETP, seeking to enhance performance. This mechanism increases the cryptocurrency entitlement per ETP unit at the end of each trading day, meaning that the amount of NEAR backing each ETP share adjusts upward over time. You can view the current entitlement per ETP unit in the Cryptocurrency Entitlement Table available on the product page at www.bitwiseinvestments.eu/products.

    – Ends –

    About NEAR Foundation

    NEAR Protocol is the blockchain for AI. A high-performance, AI-native platform built to power the next generation of decentralized applications and intelligent agents. It provides the infrastructure AI needs to transact, operate, and interact across Web2 and Web3. NEAR combines three core elements: User-Owned AI, which ensures agents act in users’ best interests; Intents and Chain Abstraction, which eliminate blockchain complexity for seamless, goal-driven transactions across chains; and a sharded blockchain architecture that delivers the scalability, speed, and low-cost execution needed for real-world AI and Web3 use. This integrated stack makes NEAR the foundation for building secure, user-owned, AI-native applications at internet scale.

    About Bitwise

    Bitwise is one of the world’s leading crypto specialist asset managers. Thousands of financial advisors, family offices, and institutional investors across the globe have partnered with us to understand and access the opportunities in crypto. Since 2017, Bitwise has established a track record of excellence, managing a broad suite of index and active solutions across ETPs, separately managed accounts, private funds, and hedge fund strategies – spanning both the U.S. and Europe.

    In Europe, for the past five years Bitwise (formerly ETC Group) has developed an extensive and innovative suite of crypto ETPs, including Europe’s most traded bitcoin ETP, or the first diversified Crypto Basket ETP replicating an MSCI digital assets index.

    This family of crypto ETPs is domiciled in Germany and issued under a base prospectus approved by BaFin. We exclusively partner with reputable entities from the traditional financial industry, ensuring that 100% of the assets are securely stored offline (cold storage) through regulated custodians.

    Our European products comprise a collection of carefully designed financial instruments that seamlessly integrate into any professional portfolio, providing comprehensive exposure to crypto as an asset class. Access is straightforward via major European stock exchanges, with primary listings on Xetra, the most liquid exchange for ETF trading in Europe. Retail investors benefit from easy access through numerous DIY/online brokers, coupled with our robust and secure physical ETP structure, which includes a redemption feature. For more information, visit http://www.bitwiseinvestments.eu

    Media contacts:

    JEA Associates
    John McLeod
    00 44 7886 920436
    john@jeaassociates.com

    Important information  
    This press release does not constitute investment advice, opinions are those of Bitwise and do not constitute an offer or solicitation to buy financial products. This press release is issued by Bitwise Europe GmbH (“BEU”), a limited company domiciled in Germany, for information only and in accordance with all applicable laws and regulations. BEU gives no explicit or implicit assurance or guarantee regarding the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. It is advised not to rely on the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. Please note that this article is neither investment advice nor an offer or solicitation to acquire financial products or cryptocurrencies.  
      
    Before investing in crypto Exchange Traded Products (“ETPs”), potential investors should consider the following:  
    Potential investors should seek independent advice and consider relevant information contained in the base prospectus and the final terms for the ETPs, especially the risk factors. Diversification does not guarantee a profit or protect against a loss. ETPs issued by BEU are suitable only for persons experienced in investing in cryptocurrencies and risks of investing can be found in the prospectus and final terms available on www.bitwiseinvestments.com./eu. The invested capital is at risk, and losses up to the amount invested are possible. ETPs backed by cryptocurrencies are highly volatile assets and performance is unpredictable. Past performance is not a reliable indicator of future performance. The market price of ETPs will vary and they do not offer a fixed income or match precisely the performance of the underlying cryptocurrency.  Investing in ETPs involves numerous risks including general market risks relating to underlying, adverse price movements, currency, liquidity, operational, legal and regulatory risks. 

    1 Source: NEAR Foundation
    2 Source: Bitwise Europe Research; NEAR Foundation
    3 Source: Artemis, Bitwise Europe; https://app.artemisanalytics.com/chains

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  • MIL-OSI Economics: Cases of unauthorised deposit-taking from the public on the rise in the Czech Republic, CNB to tighten sanctions

    Source: Czech National Bank

    Only banks or entities with the relevant authorisation are permitted to take deposits from the public in the Czech Republic. However, the Czech National Bank (CNB) is currently recording an increase in cases where other entities are doing so without authorisation. This constitutes very serious unlawful conduct, for which the CNB has already imposed fines amounting to tens of millions of Czech korunas this year. In an effort to protect the public’s money, the central bank is to further tighten its sanctioning policy in this area.

    Obtaining money from the public is subject to strict regulation in the financial market, primarily in order to protect clients and their funds. An important element of this protection is deposit insurance, which in the Czech Republic is provided by the Deposit Insurance Fund and is mandatory for all banks and credit unions.

    However, there is a growing number of cases where entities without due authorisation are unlawfully taking deposits from the public. This very often happens on the basis of loan agreements concluded with members of the public, which these entities use to circumvent the rules. Funds collected in this manner are not covered by deposit insurance or by the well-developed system of financial market supervision in the Czech Republic, and the activity of collecting such funds is not subject to strict legal regulation.

    The CNB is therefore warning the public against cooperating with illegal providers of such financial services. If an individual entrusts their money to an unauthorised entity, they face a serious risk of losing all their funds.

    To protect depositors’ funds, the Act on Banks deems the unauthorised taking of deposits from the public to be very serious unlawful conduct. This is reflected in the sanctions the CNB may impose for violations of the law.

    The CNB has so far imposed fines ranging from a few million to tens of millions of korunas as punishment for this unlawful conduct. In 2025, for example, it imposed fines of CZK 12 million and CZK 15 million.

    Given the increasing frequency of such activity, it is evident that the fines imposed so far have not sufficiently fulfilled one of the primary functions of administrative penalties – general prevention. For this reason, the CNB will continue to tighten its sanctioning policy in this area.

    Jakub Holas
    Director, CNB Communications Division

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