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Category: housing

  • MIL-OSI Africa: CORRECTION: CityBlue Hotels Announces Le Mirage Residences by CityBlue, The Tallest Branded Residences in East Africa

    CityBlue Hotels, Africa’s fastest-growing local hotel chain, and SMB Properties, a leading property developer in Kenya, today announced a strategic partnership to launch the 256-unit Le Mirage Residences by CityBlue. This landmark collaboration will introduce a new paradigm of upscale residential living in Nairobi, with Le Mirage Residences by CityBlue poised to become one of Kenya’s tallest and most iconic towers.

    The announcement, made at the prestigious Future Hospitality Summit Africa in Cape Town, marks a significant milestone for both entities and for Kenya’s real estate market. Le Mirage Residences by CityBlue will offer an unparalleled living experience, combining SMB Properties’ expertise in crafting exquisite residential spaces with CityBlue Hotels’ renowned hospitality management.

    Le Mirage Residences by CityBlue, located in the prime Westlands area of Nairobi, is designed to cater to the discerning tastes of high-net-worth individuals and expatriates seeking premium living. The development will feature luxurious 1, 2, 3, and 4-bedroom apartments, complemented by an extensive array of 22+ world-class amenities.

    These include over 52,000 sq. ft. of space dedicated to wellness, lifestyle, and recreational amenities. From Kenya’s highest rooftop infinity pool to a full-service spa, fully equipped gym, squash and pickleball courts, private cinema lounges, and dedicated children’s play areas, creating a vertical city concept that redefines urban luxury.

    As Kenya is emerging as a prime investment destination in Africa, Le Mirage Residences by CityBlue presents a unique opportunity for investors to be part of this growth. With projected capital appreciation of up to 30% in 3 years after completion and ROI of up to 23%, the development combines lifestyle with long-term financial returns.

    “This partnership demonstrates commitment to a relentless quest for footprint in key African markets and diversifying our offerings beyond traditional hotels,” said Jameel Verjee, CEO of CityBlue Hotels.

    “Nairobi’s dynamic real estate landscape presents a unique opportunity to blend our expertise in hospitality with SMB Properties’ vision for luxury residential development. Le Mirage Residences by CityBlue will deliver the signature CityBlue experience, ensuring comfort, convenience, and unparalleled service for our residents.”

    Taher Saleh, Managing Director of SMB Properties added, “Le Mirage Residences by CityBlue represents the pinnacle of luxury and architectural innovation in Kenya. We are proud to collaborate with CityBlue Hotels, a brand synonymous with excellence in hospitality, to create a landmark that will stand as a beacon of modern living in Nairobi. This project is a direct response to the growing demand for high-end residential properties in Kenya, and we are confident that its prime location, superior design, and comprehensive amenities will set new benchmarks in the market.”

    The project is poised to be one of Kenya’s tallest residential towers, reflecting the nation’s ambitious growth and the increasing sophistication of its urban centers. Its strategic location in Westlands, a vibrant commercial and residential hub, ensures easy access to Nairobi’s business districts, diplomatic missions, and premier lifestyle destinations.

    Distributed by APO Group on behalf of The Bench.

    Contact:
    For CityBlue Hotels:
    Email: grow@citybluehotels.com

    For SMB Properties:
    Email: sales@smbproperties.co.ke

    About CityBlue Hotels:
    CityBlue Hotels is Africa’s fastest-growing local hotel chain, renowned for its customer-centric approach and commitment to providing world-class hospitality across Eastern and Western Africa’s major cities. With a focus on seamless, tech-supported experiences, CityBlue Hotels aims to redefine comfort and convenience for business and leisure travelers alike. The brand is dedicated to expanding its footprint and diversifying its offerings to meet the evolving demands of the African hospitality market.

    About SMB Properties:
    SMB Properties is a privately-owned luxury property developer based in Kenya, specializing in bringing to life residential projects designed with pristine detail for premium living. With a strong track record of delivering exquisite developments, SMB Properties is committed to transforming spaces into lifestyles, where prime locations meet unparalleled amenities. The company plays a significant role in shaping Kenya’s luxury real estate landscape, catering to discerning buyers seeking high-end finishes and world-class living experiences.

    MIL OSI Africa –

  • MIL-OSI Banking: Yannis Stournaras: Welcome speech – Household Finance and Consumption Network meeting

    Source: Bank for International Settlements

    It is with great pleasure that I welcome you today to the Bank of Greece, for the June meeting of the Household Finance and Consumption Network (HFCN). We are proud to host this important event. The work that all of you, HFCN economists and statisticians, are doing is critical, as it provides useful insights into how our policymaking process ultimately affects the public.

    The Household Finance and Consumption Survey (HFCS) has cemented itself as the pinnacle of harmonised pan-European household data-gathering. It started off as a much needed input to our monetary policy deliberations. Before the HFCS, only a handful of member states conducted their own household finance surveys, in an unharmonized fashion. We then often had to rely on aggregate statistics, or patterns of behavior identified from the Fed’s Survey of Consumer Finances. This was not ideal, as there are significant differences between the US and the euro area. The HFCS serves to fill that gap, improving our understanding of key features of household economic behaviour in Europe.

    The Global Financial Crisis laid bare the need to improve our understanding of how the economy works and how monetary policy functions. The workhorse model of our profession, the New Keynesian Representative Agent model, was useful, but had substantial shortcomings which became evident at that juncture, in particular the fact that it ignored most types of household heterogeneity. As luck would have it, the first wave of the HFCS started exactly as the sovereign debt crisis was unfolding.

    But why is it important to measure the heterogeneity of households as regards their spending and wealth accumulation? From a monetary policy standpoint, two issues stand out:

    The first has to do with how monetary policy transmission works on the household side. With a representative agent model, only interest rate changes matter, via the Euler equation. Recent research (Auclert, 2019), however, documents additional channels, related to heterogeneity across households in terms of i) their marginal propensity to consume (due to liquidity constraints), ii) the effect of monetary policy on earnings, and iii) the distribution of nominal debt liabilities. For instance, if monetary easing redistributes income towards low earners, who tend to consume more of it, then the effects of policy are amplified relative to standard channels. Such effects can only be captured through surveys like the HFCS. And indeed, the network has produced a rich set of findings along these lines.

    The second issue involves the opposite concern, namely how transmission itself affects different sets of households. This was especially important during the asset purchase programs, as it was often argued that asset purchases increased inequality by inflating the prices of assets held by the wealthy. However, this ignored the earnings channel of monetary policy, via which QE in fact reduces income inequality, while having little effect on wealth inequality (Lenza and Slacalek, 2024).

    More recently, the HFCS was used to analyse another crucial issue, the distributional effects of inflation (Pallotti et al., 2024). The study found substantial heterogeneity across countries and age groups in terms of welfare losses, driven by heterogeneity in nominal net positions across households. Indeed, half of the 25-44 year olds gained (though a reduction in real debt) at the expense of retirees. Interestingly, losses were uniform across the consumption distribution, as rigid rents served as a hedge for the poor.

    The HFCN has clearly been doing a great job in highlighting the quantitatively important dimensions of household heterogeneity in the euro area. I see two avenues for further work:

    First, administrative data or data from the ECB’s Consumer Expectations Survey could complement the information collected by the HFCS to further deepen our understanding of the above questions.

    Second, a somewhat unexplored topic, and a natural next step, would be to move from documenting heterogeneity to understanding the causes of heterogeneity.  For instance, at the Bank of Greece we included a short module in the fifth wave of the HFCS, to examine whether people with a refugee background have different inclinations towards the accumulation of immovable assets. Going forward, it would be worthwhile to explore what other types of questions could be added to the survey, so as to further explore the drivers of household heterogeneity.

    At the Eurosystem, we take pride in our ability to design surveys and independently conduct research, so as to inform policy. This is crucially important, especially in a world where public discourse, notably on issues of distribution and inequality, seems to be  under intense scrutiny in both policy debate and academic research. Surveys such as the HFCS and the ensuing research output become even more important, as we gradually come to realise that heterogeneity does matter for policy design. This makes it even more crucial that we continue such work.

    Last but not least: May I take the opportunity to commemorate our distinguished and beloved colleague Sotiris Saperas, late member of the HFCN, not only for his scientific expertise, his valuable contribution to the HFCS project, but also for his kindness and exemplary character.

    Thank you for your contribution to the HFCN and I wish you a very fruitful meeting.

    References

    Auclert, Adrien (2019), “Monetary Policy and the Redistribution Channel,” American Economic Review,

    109(6), 2333–2367.

    Laudenbach, Christine and Ulrike Malmendier and Alexandra Niessen-Ruenzi (2025), “The Long-lasting Effects of Living under Communism on Attitudes towards Financial Markets,” Journal of Finance.

    Lenza, Michele, and Jiri Slacalek (2024), “How Does Monetary Policy Affect Income and Wealth Inequality? Evidence from Quantitative Easing in the Euro Area,” Journal of Applied Econometrics.

    Pallotti, Filippo and Gonzalo Paz-Pardo and Jiri Slacalek and Oreste Tristani and Giovanni Violante, (2024), “Who bears the costs of inflation? Euro area households and the 2021–2023 shock,” Journal of Monetary Economics, vol. 148(S).

    MIL OSI Global Banks –

  • MIL-OSI Banking: Chang Yong Rhee: Speech – 75th Anniversary of the Bank of Korea

    Source: Bank for International Settlements

    I would like to thank Choongwon Park, Taesup Kim, and Byeongrok Lee for their help in preparing this speech. * This is an unofficial translation of the original speech released on June 12, 2025.

    My dear colleagues at the Bank of Korea,

    Seventy-five years ago, the Bank of Korea took its first step with the mission of contributing to the sound development of the national economy through pursuing price stability. Since that day, we have faithfully fulfilled our responsibilities through every chapter of our nation’s history, bringing us to where we stand today. I would like to express my deepest respect to our predecessors who devoted themselves to setting and implementing monetary policy over the decades. I also extend my sincere gratitude to the members of the Monetary Policy Board, who continue to serve as a guiding compass for the Bank, and to all the staff who have diligently carried out their duties in their respective roles. Above all, I would like to extend my heartfelt appreciation to the families of our staff, whose steadfast support has been a constant source of strength.
    This year marks both the 75th anniversary of the Bank of Korea’s establishment and the 80th anniversary of national liberation. This is a special year, an opportunity to reflect on our history defined by overcoming numerous crises and achieving remarkable progress. More recently, over the past six months, a rapidly shifting global landscape and escalating political tensions have evoked a sense of crisis reminiscent of the turmoil that followed Korea’s liberation.
    Globally, geopolitical tensions have persisted due to the wars between Russia and Ukraine and between Israel and Hamas. At the same time, domestically, political instability that escalated following the declaration of martial law late last year has continued, deepening social conflict and division. It has been a period of confusion that can be summed up in one word: “uncertainty”. Amid these global and domestic shocks, Korea’s economic growth has slowed considerably, and self-employed and small business owners are facing significant difficulties in particular.
    Despite these challenges, there remains a silver lining. Although political uncertainty has brought high economic and social costs, the process of overcoming it has reaffirmed the strength and resilience of our democracy. Now, with a new administration in place on a foundation of a mature democracy, we look forward to strengthening social cohesion through unity and restoring economic vitality by prioritizing pragmatism. The Bank of Korea must also do its part to help the nation overcome these hardships by conducting monetary policy based on principle and conviction, and by faithfully fulfilling its responsibilities, including pursuing price stability, that are essential to the future of the national economy and to the well-being of the people.

    My dear colleagues,

    Economic conditions this year remain highly challenging. As noted in last month’s economic outlook, the GDP growth forecast has been revised downward to 0.8% for the year and to 1.6% for next year, representing a significant downgrade from the February projection. The projected growth rate for this year is the lowest in the past three decades, excluding the periods of the Asian Financial Crisis, the Global Financial Crisis, and the COVID-19 pandemic. It is also highly unusual for an annual growth projection to be lowered by as much as 0.7%p within the span of just three months.

    A combination of several factors lies behind this sluggish growth. While the expected slowdown in exports due to tighter U.S. protectionist trade policies is a key contributor, a more critical factor is a delayed recovery in domestic demand amid six months of prolonged political uncertainty. As a result, GDP growth in the first half of this year is expected to come in at just 0.1% compared to the same period last year. In particular, construction investment is projected to contract for five consecutive quarters through the second quarter of this year, emerging as the single largest source of the downward pressure on growth. This is attributable to the correction currently underway in real estate-related debt, which had surged rapidly since the COVID-19 pandemic. Significant uncertainty also looms over the 1.6% growth outlook for next year. While domestic demand is expected to recover gradually going forward, the outlook for exports could differ greatly depending on how U.S. trade policies and global trade negotiations unfold.

    The Bank of Korea views the current situation with grave concern and acknowledges the urgency of stimulus policies in that regard. Since October last year, we have cut the Base Rate four times in an effort to reinvigorate the economy, and we intend to maintain an accommodative monetary policy stance for the time being. At the same time, close coordination between monetary and fiscal policy should continue as long as it does not compromise central bank independence. However, in determining the appropriate degree of economic stimulus, it is essential to assess the current low growth not only from a cyclical perspective but also from a structural lens.

    Under the current circumstances, it is clear that stimulus measures are urgently needed for economic recovery. Yet at the same time, in light of these structural shifts, we should also make efforts to prevent continued declines in the potential growth rate and establish a resilient economic structure against cyclical volatility. Excessive reliance on economic stimulus packages, driven by immediate pressures alone, could result in bigger negative side effects.

    For instance, excessively lowering the Base Rate would more likely fuel housing price hikes in the Seoul metropolitan area, rather than support a recovery in the real economy. We need to be mindful that since last March, apartment prices in Seoul have increased at an annualized rate of approximately 7%, and that household lending by the financial sector has also increased at a fast pace. We should break away from the past practice of tolerating excessive investment in real estate in an attempt to give an easy boost to the economy. In addition, although the won/dollar exchange rate has recently declined to the mid-1,300 won level, volatility in the foreign exchange market could reemerge as the interest rate differential between Korea and the U.S. might widen further depending on the pace of the Federal Reserve’s rate cuts, and as uncertainty regarding trade negotiations among major economies remains high. Going forward, while the Bank will maintain an accommodative monetary stance, decisions concerning the timing and extent of any further rate cuts will be made with caution based on a thorough assessment of macroeconomic and financial developments.

    Building on this awareness, the Bank of Korea has actively sought not only to conduct monetary policy, but also to identify the structural problems of our economy and to propose solutions. For instance, we have diagnosed that Korea’s low birth rate and an aging population are rooted in the concentration in the Seoul metropolitan area and in the intense competition in the college entrance system. In response, we have put forward bold institutional reform proposals such as a “balanced development focusing on regional hub cities” and a “regional proportional admissions system” (Chung, M. et al., 2024; Chung, J. et al., 2024). To mitigate the economic and social impact of an aging population, we have explored policy measures like the sustainable employment of older workers, improvements in care services, and the utilization of home pensions after retirement (Oh, S. et al., 2025; Chae, M. et al., 2024; Hwang, I. et al., 2025). In addition, recognizing the vulnerabilities arising from Korea’s heavy dependence on exports and its concentration in a few key industries, we have also conducted research into strategies that could help foster intellectual services as a new growth engine for exports (Choi, J. et al., 2025).

    The call to pursue structural reform alongside economic stimulus is not unique to Korea. Across Europe, as growth stagnates, there is a growing recognition that the region’s deepening reliance on China and Russia and the disruptions from the global supply chain fragmentation are not merely temporary phenomena, but structural vulnerabilities. Efforts are emerging to address these challenges. A prominent example is the report “The Future of European Competitiveness,” published in September last year by Mario Draghi, the so-called “Draghi Report.” This report provided a comprehensive, long-term analysis of the causes behind Europe’s weakening competitiveness and proposed a wide range of policy responses. Since the beginning of this year, there have been notable efforts to strengthen the euro’s status as an international currency by integrating the region’s capital markets, in response to the rise of U.S. protectionism.

    The European case offers some important implications. It is increasingly acknowledged that the slow progress made on structural reform across Europe was not due to a lack of policy proposals, such as those outlined in the Draghi Report, but rather on the absence of political leadership to reconcile divergent national interests. In a self-critical reflection that Europe has carried out reform only in response to an external crisis, the current trade conflict with the U.S. paradoxically presents a valuable opportunity to strengthen its own political leadership.

    Structural reform inevitably involves conflicts of interest, and in the process, there will unavoidably be both winners and losers. Without sufficient coordination and broad-based public consensus, even well-designed policies may falter in the face of resistance from interest groups. The various policies proposed by the Bank of Korea are no exception. We hope that the newly launched administration will clearly prioritize its structural reform agenda and demonstrate leadership in managing social conflict, to turn the current crisis into an opportunity. The Bank of Korea will provide full support during these efforts through rigorous analysis and thoughtful policy recommendations.

    My dear colleagues at the Bank of Korea,

    The structural reforms I have mentioned so far are efforts to solve problems accumulated from the past. Now, however, we must also prepare for future challenges from a forward-looking perspective. Above all, as digital technologies and artificial intelligence (AI) continue to penetrate every aspect of our economy and society, we are witnessing rapid and fundamental changes in the financial and economic landscape. In this environment, identifying and nurturing new engines of economic growth has become one of our most urgent priorities. Grounded in this awareness, we are committed to not only conducting research, but also to taking concrete action. We have proudly launched our own initiatives that proactively respond to digital innovation and to the growing influence of AI.

    With “Project Hangang,” the Bank of Korea has recently begun conducting pilot test for a future digital currency infrastructure based on a wholesale central bank digital currency (CBDC) and on tokenized deposits, conducting trials in a real-world environment (Bank of Korea, 2025a). Of course, today’s payment systems, including credit cards and mobile payment services, are already highly efficient, but we must not become complacent with current levels of convenience. The digital transformation of finance has moved beyond a race for speed. We are now entering a new phase that demands structural change and greater interconnectedness. The Bank for International Settlements (BIS) has introduced the concept of the “finternet” as a vision for the future of finance (Carstens et al., 2024). This envisions the integration of fragmented financial services across banking, securities, digital payments, and insurance into a unified interface, enabling real-time, user-centric financial management.

    To realize this vision, a common digital currency foundation that interconnects all financial institutions is essential, with a CBDC and tokenized deposits at its core. These instruments function as a trusted common unit of settlement for all participants, serve as the technological standard, and can be designed as “programmable money,” making them the key enablers of the personalized and automated financial environment envisioned by the finternet. Project Hangang is scheduled to conduct a follow-up test later this year to assess the potential benefits of tokenized deposits and determine whether to move forward with commercialization. In parallel, as KRW-denominated stablecoins not only have the potential to drive innovation in Korea’s fintech industry but could also function as substitutes for legal tender, we will work closely with relevant authorities to establish institutional safeguards that ensure their stability and usefulness, while preventing any circumvention of foreign exchange regulations. Additionally, through our participation in “Project Agorá,” in collaboration with major central banks and global institutions, we are helping to build a cross-border digital financial infrastructure aimed at dramatically reducing the cost of international remittances.

    Alongside digital finance, AI is rapidly becoming a part of everyday life, and its full potential is still difficult to predict. Korea is among the few countries that are developing “sovereign AI” based on its own language.2 As AI deployment extends beyond centralized large-scale servers to smaller devices, such as smartphones, it may also open new opportunities for Korea’s semiconductor industry. In line with this transformation, the Bank of Korea is currently developing a BOK-specific AI model built on a sovereign AI platform developed by a domestic firm. We plan to implement this model in the second half of this year. We hope this project will serve as a good example of public-private cooperation in developing Korea’s AI industry. I also encourage all of our staff to become comfortable using AI tools and to grow into the kind of creative talent that is demanded by this new digital era.

    To properly utilize AI technology, cloud computing is essential. AI needs to process large-scale data and conduct high-performance computations, that exceed the limitations of ordinary computers or of internal servers. Until now, the government’s “network separation policy” for cybersecurity has been unavoidable in some respects, but at the same time, it has restricted the use of new technologies.3 However, in light of the rapid spread of AI, we can no longer adhere to traditional methods. Accordingly, the Bank of Korea, for the first time among public institutions, is launching its own AI initiative and, in collaboration with the government, is also carrying out a “network improvement pilot project” as part of this broader effort. We hope that the Bank of Korea’s pilot project will contribute to accelerating AI adoption in the public sector. I would also like to take this opportunity to express my deep gratitude to the members of the Monetary Policy Board for their active support for these pioneering efforts, such as Project Hangang and our AI development project, despite many challenges.

    My dear colleagues,

    Over the past three years, many changes have taken place within the Bank of Korea. We have made efforts toward new management innovations, such as reforming the evaluation system, restructuring the organization, delegating more authority to lower levels, and promoting a culture of information sharing and open discussion. As a result, the Bank of Korea’s organizational capabilities have been significantly strengthened. Research reports we have published have sparked social responses, and our standing as a think tank for the national economy has been further strengthened. This is not just my personal view, but one that has also been affirmed by external evaluations, as well. According to a recent public perception survey concerning the Bank of Korea, the proportion of favorable responses rose by 9.6%p from last year, surpassing the 50% mark for the first time. The public’s assessment of the Bank’s credibility also increased by 18.2%p, reaching 66% (Bank of Korea, 2025b).4 I would like to sincerely thank all of you for your active participation in these efforts for change and innovation.

    There have also been significant changes in our public communications. Christine Lagarde, the president of the European Central Bank, once emphasized “humility” as the key principle in central bank communication, stating that we need to narrow the gap with the public through simple and clear messages. The Bank of Korea has also been striving to communicate through multiple channels that are tailored to various audiences. The “Financial and Economic Snapshot” provides visualized information to help people better understand economic trends. Our YouTube content has become more diverse, ranging from “BOK Inside,” which captures the daily lives of our staff, to “BOK Overseas Briefings” from our overseas representative offices. Starting this week, we are opening a gift shop at the Bank of Korea Money Museum to showcase souvenirs that represent the Bank of Korea, with the aim of raising the Bank’s brand awareness.

    We have also established a dedicated studio to improve the quality of our media content and are providing systematic media training for our staff. I am especially pleased and encouraged by the active media engagement of our younger employees, not only at headquarters but also at our regional offices. Thanks to these continued efforts, the number of subscribers to the Bank of Korea’s YouTube channel has surpassed the Silver Creator Award threshold and is now nearing 110,000. We look forward to continued growth, with the aim of surpassing 150,000 subscribers in the near future.
    Over the past three years, as I worked alongside all of you, I have witnessed the high level of competence demonstrated by our employees. The favorable assessments of our structural reform reports were only made possible by the in-depth analyses that supported them. I believe the quality of our work stands on par with that of any international institution, such as the IMF. Moving forward, I hope each of you will believe in your own potential and approach your work with greater initiative.

    Of course, there are still several areas that require improvement, and some aspects have yet to meet expectations. More than anything, I encourage you to not limit yourselves to passively carrying out tasks directed from above, but to ask your own questions and to take the initiative in driving change within our organization. In my first commemorative speech marking the Bank’s anniversary, delivered shortly after taking office, I emphasized the need to build an organizational culture where, “everyone can express their own views regardless of seniority.” Some noticeable progress has been made toward such a “vibrant Bank of Korea,” but there are still not many employees who feel comfortable saying, “Governor, I’m not sure I agree with you.” I hope to see more change in this regard going forward. My office door is always open.

    Winston Churchill once said, “To improve is to change; to be perfect is to change often.” The progress we have made so far is a valuable outcome made possible by the collective dedication of all our staff. I hope that this spirit of change will continue to flourish so that a self-sustaining, enduring culture of innovation can take firm root within the Bank.

    As we stand at this meaningful milestone of our 75th anniversary, I would like to once again express my heartfelt gratitude to all of you who have made today’s achievements possible. In covering so many topics in today’s speech, I remain mindful that I was unable to extend specific words of appreciation to our colleagues who work quietly and tirelessly in essential areas such as currency management, security, customer service, business support, and facility maintenance. I am deeply aware that your dedication and hard work are truly the backbone of this organization. I believe that the time we build together will lay a strong foundation not only for the future of the Bank of Korea, but also for a brighter future of our national economy. I sincerely wish you and your families continued health and happiness. Thank you.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Richard Doornbosch: People over profit – the benefits of cooperatives – relevant as ever

    Source: Bank for International Settlements

    Introduction 

    It is a true honor to be with you today at this impactful Annual Leadership conference here in Curaçao, an island where cooperation is not optional but a necessity. We are living in what you have aptly called the disruptive age. An era in which leaders must navigate technological, environmental, and social change.

    I will argue that in this era, the key cooperative principle of people over profit has enduring relevance. However, this is not business as usual. During this conference you will delve into the strategies credit unions need to thrive in today’s financial world. What I will do is ask three hard questions you need to be able to answer or at least consider when formulating your strategies.

    On behalf of the Central Bank of Curaçao and Sint Maarten, I extend a warm welcome to each and every one of you.

    I am pleased to see the energy, enthusiasm, and diversity represented here today. Leaders and professionals who share a commitment to strengthen the credit union sector, not just for today’s members, but for generations to come. 

    People Over Profit 

    At the core of the credit union sector lies a guiding value that sets you apart within the broader financial system: people over profit. This principle is not incidental- it is a deliberate and defining element of your institutional model. And it finds its most concrete and consistent expression in the seven internationally recognized cooperative principles.

    These principles- (1) voluntary and open membership, (2) democratic member control, (3) member economic participation, (4) autonomy and independence, (5) education, training and information, (6) cooperation among credit unions, and (7) concern for community- are not mere formalities. They represent a coherent framework that ensures accountability, transparency, and equitable treatment of members.

    In a world marked by rapid technological advancements, societal shifts, and economic uncertainties, these cooperative principles provide a stable foundation. By responding to the need for social relevance, sustainable economic models, and participatory governance, these principles are well-suited to address contemporary challenges and contribute to a stable and forward-looking organizational culture.

    As a supervisory body, the CBCS views the framework of credit unions both as a strength and a safeguard because in a world where many feel left behind by traditional financial institutions, credit unions stand for inclusion, trust and service to communities. Because of their uniqueness, credit unions are in a strong position to help address financial inclusion. To fulfill that purpose the credit union sector must, however, evolve.

    To do so, I will outline three key questions you need to be able to answer:

    1. Why are we a cooperative organization?
    2. What is or should be the added value for our members?
    3. How should we embrace innovation and technology to ensure competitiveness and compliance?

    Where We Are Today 

    Allow me to first begin with some personal connection and to reflect on our local context. I come from a family rooted in cooperation. My parents are both from Groningen, a traditional agricultural region, up north in the Netherlands. My grandfather was one of the founding members of the AVEBE, a cooperative that organized farmers after the First World War in 1919 to ensure fair pricing of their products. AVEBE is now a multinational in the food industry but still owned and governed by its 1900 members that are all farmers. The operations have changed greatly but the foundation remains the same. To serve each other.

    The same principle guided the origin of credit unions in the Caribbean in the first half of the 20th century. They were set up as a social instrument to give workers and small independent entrepreneurs access to savings and credit services. Since then, the credit union sector has been essential to Caribbean communities. However, the necessity for cooperatives remains present. Not everyone in the Caribbean can put his or her money in a bank account to save, not all entrepreneurs have access to finance.

    In Curaçao, the credit union sector is an important pillar of financial inclusion and community empowerment. Almost 25% of the population of Curaçao is a member of a credit union. There is great strength in the business of credit unions: community trust, (financial) education, deep member relationships, and a core purpose that places people before profits. Credit unions play a vital role in promoting financial inclusion, offering access to savings, credit, and financial services to individuals and families across the island. They provide opportunities for small businesses to grow, for young people to finance their education, and for families to build secure futures.

    But we must also recognize that the sector has its challenges around governance, innovation, and risk management that have the potential to undermine its benefits to the community. The foundation is strong because of the deep member relationship, the powerful sense of mission and purpose and an enduring commitment to community welfare, but it must be reinforced, and it must evolve.

    That brings us back to our key questions. The why, what and how. Why are you serving your members, what should be your added value and how to use innovation and technology to thrive. If you are not able to answer these questions, there is probably some searching and homework to do.

    Three key tasks 

    1. Why? Reinforce your cooperative culture

    Obviously, I cannot answer the “why” question for you. It should define your focus. It might be ensuring access to basic financial services to your membership, or enhancing financial literacy, or guaranteeing access to finance to ensure growth opportunities to small and medium sized businesses. It should be closely aligned with your membership needs.

    The answer should define your organizational culture. Culture is the force that shapes decisions, drives behavior, and defines an organization’s identity; what motivates employees to go the extra mile for members, inspires teams to innovate, adapt, grow and earn the trust and loyalty of communities. When “financial health” of your members is your mission, you probably will have different priorities as when “access to finance” is in your primary mission statement.

    Credit unions traditionally boast a strong organizational culture because their members believe in the principles of cooperativism. It is this shared belief that forms the heart of their success. To ensure continued growth and relevance, it is essential to nurture and strengthen the reason to serve your members. By doing so, you continuously reaffirm the central role of the members.

    2. What? What should be your added value and how should that guide your strategic goals

    Alongside a strong culture, credit unions need a clear strategy driven by the added value you provide to your members. Strategic goals provide a roadmap for the future. A well-defined strategy focuses resources, guides decision-making, and ensures that all efforts are aligned with the organization’s vision, the ‘why’.

    There are a few misconceptions about credit unions I would like to address in this context.

    Misconception number 1. For credit union efficiency is less important. And I hope I preach to the converted here. Yes, credit unions main focus is not profit, but they do need to provide low-cost financial solutions to serve their members. You can only provide low-cost products and services if you organize yourself efficiently. And size does matter because there are economies of scale. There are fixed costs in operating a core banking system, in external control, in basic governance structures. And although the minimal size to operate a credit union depends on the regulatory framework and operational design of the institution, it seems that a credit union with less members will be harder to operate in a sustainable manner while adding value to its members.

    Number 2. Compliance is less important because you know your members. It’s indeed a great advantage for compliance if you know your customers. However, for effective oversight your compliance still needs to be ‘auditable’ and your risk management up to par. Without it you risk high fines and ultimately your license to operate.

    A final misconception is that in credit unions members decide everything because they are democratic. Indeed, democratic member control is an important principle. But just like in a democracy, the people are being represented by parliamentarians and powers are being shared between the different branches of government. In a cooperation members decide on a council of supervision to oversee management that is responsible for day-to-day operations and decision making. The governance needs to be designed in a careful and deliberate manner in order to balance democratic member control with room for independent executive decision making and professional oversight in order to guarantee soundness and integrity of operations.

    People over profit does not mean you should not be competitive and professional. Being competitive means that you would like to succeed. How you define success will be different for credit unions compared to financial institutions driven by shareholder value.

    For credit unions, strategic goals will aim to service their members:

    • Introducing digital service channels to enhance member convenience /nursing technology-driven accessibility: mobile banking, online applications, real-time services.
    • Deepening community partnerships to extend impact and relevance.
    • Offer member-centric products that meet life cycle needs: from microloans to housing finance and retirement savings.

    3. How? By embracing innovation and technology to ensure competitiveness and compliance 

    The Central Bank of Curaçao and Sint Maarten envisions a credit union sector that is not only surviving but thriving. A sector that is dynamic, inclusive, and innovative.

    For this we must imagine a future where credit unions embrace innovation and new technologies to service their members.

    In an ageing society, membership of credit unions is also ageing. This provides opportunities and challenges. The opportunity to guide members into the digital age and assist with new online banking tools to ensure digital inclusion. And the challenge to ensure young generations are also inspired by their mission and vision and appreciate the financial products and services.

    In several Caribbean countries banking and insurance is seen as cumbersome, slow and expansive. There are ample opportunities for credit unions to:

    • Deliver tech-enabled services that attract new members,
    • Work together across borders to share infrastructure and reduce costs,
    • Operate with world-class governance and compliance,
    • Lead the way in promoting financial literacy and empowerment.

    The principle of people before profit is timeless, however for credit unions to succeed in a fast-changing world you have to embrace innovation without hesitation. Embracing innovation means investing in people and technology.

    CBCS as a regulator

    CBCS supervises credit institutions to ensure the soundness and integrity of the financial institutions of Curaçao and Sint Maarten.

    In this context, prudential supervision plays a key role by ensuring that financial institutions maintain adequate solvency and liquidity, while strong governance and compliance provide the foundation for sound operations, enabling timely identification and management of risks.

    A Shared Commitment

    One of the features of the dialogue between credit unions in Curaçao and Sint Maarten and the Central Bank of Curaçao and Sint Maarten is the emphasis on open communication and proportionate regulation within the legal requirements. Proportional does not mean the bar is lower for credit unions. It means that where risks are lower the requirements can be lower. Or where complexity is lower the reporting requirements can be less onerous and complex while still meeting legal requirements.

    A significant aspect of our dialogue is the annual meetings between the Central Bank of Curaçao and Sint Maarten and FEKOSKAN. These meetings serve as a platform for discussion to ensure that the sector remains resilient and aligned with regulatory standards. The Central Bank of Curaçao and Sint Maarten and FEKOSKAN are committed to addressing challenges collectively.

    Furthermore, the Central Bank of Curaçao and Sint Maarten is involved in supporting education and professional development within the credit union sector. By offering learning opportunities, the Central Bank of Curaçao and Sint Maarten wants to help credit unions enhance their internal expertise and manage their operations more efficiently and sustainably. This proactive approach will contribute to strengthening the capabilities of staff, enabling them to better support their members and adapt to changes in the financial landscape.

    The journey ahead is one of the enormous opportunities.

    With a strong culture and clear strategic goals, credit unions in Curaçao and Sint Maarten and across the Caribbean can position themselves not only as competitive financial institutions but as leaders in shaping a more inclusive, resilient, and prosperous financial future.

    At the Central Bank of Curaçao and Sint Maarten, we are committed to supporting this journey where appropriate.

    Closing

    Credit unions were born out of necessity: a community-based solution to exclusion. The Central Bank of Curaçao and Sint Maarten thinks that that mission remains. But today, members need digital, responsive, and ethical financial partners. This can be achieved by focusing on the three key actions outlined today: reinforcing your cooperative culture, setting clear and strategic goals to drive transformation and competitiveness, and embracing innovation and collaboration to build lasting resilience for the future. Throughout this journey, it is essential to remain grounded in the core value that defines credit unions: putting people over profit.

    I wish you all a conference full of inspiration, collaboration, and new ideas. I hope it sparks new strategies, strengthens leadership bonds, and ignite a renewed sense of purpose for credit unions in the region to thrive.

    Thank you.

    MIL OSI Global Banks –

  • MIL-OSI Russia: Reconstruction work has begun at the Pererva MCD-2 station

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The capital has begun a large-scale reconstruction of the Pererva station of the second Moscow Central Diameter (MCD-2). A modern and convenient station integrated into the urban environment will be created here. The work is being carried out by Russian Railways together with the Moscow Government team.

    “Currently, 4.1 thousand passengers use the station daily. Our goal is to bring the infrastructure to the uniform high standards of Moscow transport, to provide city residents with quality service along the entire travel route. A team of the best specialists is already working on this. We continue large-scale work on the comprehensive renovation of MCD stations on behalf of Sergei Sobyanin,” said Deputy Mayor of Moscow for Transport and Industry

    Maxim Liksutov.

    Preparatory work has now begun on the territory of the Pererva station, including the organization of a construction camp and the reconstruction of utility lines.

    MCD stations are being modernized as part of the comprehensive development of the transport system and urban infrastructure. The reconstruction project of the Pererva MCD-2 station is aimed at creating a comfortable infrastructure that meets the high standards of Moscow transport, as well as improving the quality of the urban environment and transforming the territory around it.

    The station reconstruction project provides for a comprehensive upgrade of the passenger infrastructure. Two new pavilions with exits to Ilovaiskaya and Shosseynaya streets will be built here. A safe covered pedestrian crossing about 300 meters long will appear over the railway tracks, which will provide comfortable communication between the Maryino and Pechatniki districts in any weather.

    A significant change will be the replacement of the existing coastal platforms with one island platform equipped with a protective canopy along the entire length. The entrances and exits will be equipped with escalators, and elevators will be installed for people with limited mobility. Ticket offices, terminals and sanitary rooms will be located in the pavilions. After the completion of the work, the total area of the station will be 5.5 thousand square meters.

    Pererva station was opened in 1894. It was named after the village located here, known since the 16th century. Nearby is a motorcar depot of the same name, which is more than 87 years old. Here they inspect and repair the MCD electric rolling stock.

    Today, Pererva connects three districts – Maryino, Lyublino and Pechatniki, where more than half a million city residents live. Construction is actively developing around the station: new residential microdistricts and infrastructure are appearing. Since 2019, the number of city residents living nearby has grown by more than 30 thousand people.

    Sobyanin: Seven Moscow city railway stations will open in Moscow in 2025–2026Sobyanin: 140-meter pedestrian bridge connects two Tekstilshchiki metro stations

    When designing the Moscow city station Pererva MCD-2, the reserve capacity for many years to come was taken into account, taking into account the intensive development of the areas around it.

    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/155361073/

    MIL OSI Russia News –

  • MIL-OSI United Nations: USA for IOM Appoints New CEO to Lead Next Chapter of Humanitarian Innovation

    Source: International Organization for Migration (IOM)

    Geneva/Washington, D.C., 17 June 2025 – USA for IOM, the U.S. nonprofit partner of the United Nations’ International Organization for Migration (IOM), today announced the appointment of Joanna Wasmuth as its new Chief Executive Officer. Wasmuth is a visionary leader with extensive expertise in international development and economic empowerment, and a strong track record of building high-impact partnerships to support displaced communities worldwide.

    At a time when record levels of displacement are straining global resources, Wasmuth will lead USA for IOM into a new chapter of cross-sector collaboration. Under her leadership, the organization will enhance partnerships that support IOM programming to save lives and advance durable solutions to displacement.

    “Joanna brings a blend of courage and creativity to her leadership, and her strategic vision and relentless drive for innovation have set new standards,” said IOM Director General Amy Pope. “We look forward to seeing USA for IOM flourish under her stewardship, as we build groundbreaking partnerships and unlock new opportunities that broaden support for our work around the world.”

    From supporting survivors of trafficking to helping conflict-affected families rebuild their homes, USA for IOM connects private donors, corporations, and foundations with life-changing projects led by IOM’s global teams. These collaborations are transformative investments, blending private sector innovation with humanitarian expertise to expand possibilities for vulnerable people around the world.

    “I am honored to lead USA for IOM at this critical time and to work alongside our board, partners, donors, innovators, and communities to build solutions that empower people on the move,” Wasmuth said. “We look forward to growing our partnerships with the private sector to create scalable, sustainable solutions that shape brighter futures for displaced families worldwide.”

    Wasmuth has more than 25 years of experience in international development and nonprofit leadership at organizations such as World Vision and Vision Fund International. She has championed partnerships and funding innovations that have strengthened vulnerable populations and developed critical solutions to combat human trafficking.

    “On behalf of the Board, we are thrilled to welcome Joanna,” said Anne Richard, USA for IOM Board member, former U.S. Assistant Secretary of State, and NGO leader. “She has experience building support for worthwhile causes, and we are happy she will be putting her considerable talents and enthusiastic energy to use in support of USA for IOM.”

    For more than 30 years, USA for IOM has mobilized funding for a wide range of IOM’s more than 170 country missions – helping conflict-affected communities in Ukraine, protecting extremely vulnerable migrants in Africa and South America, and assisting victims of human trafficking around the world.

    About USA for IOM

    USA for IOM is the nonprofit partner in the U.S. of the International Organization for Migration (IOM). USA for IOM raises awareness and mobilizes support for humanitarian assistance and development initiatives to improve the lives of displaced people around the world. Join us in creating lasting solutions that empower displaced communities and generate sustainable impact.

    Learn more at usaforiom.org; to request a meeting with Joanna Wasmuth to discuss partnerships, please email: collaborate@usaforiom.org.

    For more information, please contact IOM Media Centre.

    MIL OSI United Nations News –

  • U.S. Hints at Direct Talks with Iran as Israel Intensifies Airstrikes

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump said he wanted a “real end” to the nuclear problem with Iran and indicated he may send senior American officials to meet with the Islamic Republic as the Israel-Iran air war raged for a fifth straight day.

    He made the comments during his midnight departure from Canada, where he attended the Group of Seven nations summit on Monday, according to comments posted by a CBS News reporter on social media platform X.

    Trump predicted that Israel would not be easing its attacks on Iran. “You’re going to find out over the next two days. You’re going to find out. Nobody’s slowed up so far,” the CBS journalist quoted Trump as saying on Air Force One.

    He said “I may”, on the prospect of sending U.S. Middle East Envoy Steve Witkoff or Vice President JD Vance to meet with Iran.

    Trump is looking for a “complete give up” by Iran, according to a pool report by Politico.

    Washington has said Trump was still aiming for a nuclear deal with Iran, even as the military confrontation unfolds.

    World leaders meeting at the Group of Seven summit called for a de-escalation of the worst-ever conflict between the regional foes, saying Iran was a source of instability and must never have a nuclear weapon while affirming Israel’s right to defend itself.

    Trump, who left the summit early due to the Middle East situation, said his departure had “nothing to do with” working on a deal between Israel and Iran after French President Emmanuel Macron said the U.S. had initiated a ceasefire proposal.

    “Wrong! He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a Cease Fire. Much bigger than that,” Trump wrote on his Truth Social platform late on Monday.

    Israel launched its air war with a surprise attack that has killed nearly the entire top echelon of Iran’s military commanders and its leading nuclear scientists. It says it now has control of Iranian airspace and intends to escalate the campaign in the coming days.

    Trump has consistently said the Israeli assault could end quickly if Iran agreed to U.S. demands that it accept strict curbs on its nuclear programme.

    “Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!” Trump said on Monday.

    Iran’s Revolutionary Guards said on Tuesday that a “more powerful” new wave of missiles was recently launched towards Israel, the state news agency reported. A senior Iranian army commander said a new wave of drones would hit Israel.

    Three people were killed and four injured in Iran’s central city of Kashan in an Israeli attack, Iran’s Nournews reported on Tuesday.

    EXPLOSIONS, AIR DEFENCE FIRE

    Iranian media also reported explosions and heavy air defence fire in Tehran early on Tuesday, with smoke rising in the city’s east after an explosion of suspected Israeli projectiles. Air defences were activated also in Natanz, home to key nuclear installations 320 km (200 miles) away, the Asriran news website reported.

    Doctors and nurses have been recalled from leave to carry out their duties, Iranian media reported.

    Khorramabad city MP Reza Sepahvand told the Iranian labour news agency that most incidents happening in Iran are due to “infiltrators” rather than direct action from Israel, adding that 21 people were killed in the western province of Lorestan.

    World oil markets are on high alert for any developments in the conflict that could hit global supply.

    A shipping incident near the Strait of Hormuz, off the coast of the United Arab Emirates early on Tuesday morning was not security related but a result of ships colliding. The UAE coast guard said it had evacuated 24 people from oil tanker ADALYNN following a collision between two ships in the Gulf of Oman, near Hormuz. About a fifth of the world’s total oil consumption passes through the waterway.

    Naval sources have told Reuters that electronic interference with commercial ship navigation systems has surged in recent days around the Strait of Hormuz and the wider Gulf, which is having an impact on vessels sailing through the region.

    Israel’s military said on Tuesday that it killed Iran’s wartime chief of staff. Israel also said it carried out extensive strikes on Iranian military targets including weapons storage sites and missile launchers.

    Iranian officials have reported 224 deaths, mostly civilians, while Israel said 24 civilians had been killed. Israeli Finance Minister Bezalel Smotrich said nearly 3,000 Israelis had been evacuated due to damage from Iranian strikes.

    Sources told Reuters that Tehran had asked Oman, Qatar and Saudi Arabia to urge Trump to pressure Israeli Prime Minister Benjamin Netanyahu to agree to an immediate ceasefire. In return, Iran would show flexibility in nuclear negotiations, according to two Iranian and three regional sources.

    CHINESE URGED TO LEAVE ISRAEL

    “If President Trump is genuine about diplomacy and interested in stopping this war, next steps are consequential,” Iranian Foreign Minister Abbas Araqchi said on X. “Israel must halt its aggression, and absent a total cessation of military aggression against us, our responses will continue.”

    Iran denies seeking nuclear weapons and has pointed to its right to nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty.

    Israel, which is not a party to the NPT, is the only country in the Middle East widely believed to have nuclear weapons. Israel does not deny or confirm that.

    With security concerns growing and Israeli airspace closed because of the war, the Chinese embassy in Israel urged its citizens to leave the country via land border crossings as soon as possible.

    The conflict escalated on Monday with Israel attacking Iran’s uranium enrichment facilities.

    Rafael Grossi, head of the International Atomic Energy Agency, told the BBC that the Natanz plant sustained extensive damage, likely destroying 15,000 centrifuges, while Iran’s Fordow plant remained largely intact.

    (Reuters) 

  • MIL-OSI Europe: Audience with the Bishops of the Italian Episcopal Conference

    Source: The Holy See

    This morning, in the Vatican Apostolic Palace, the Holy Father Leo XIV received in audience the bishops of the Italian Episcopal Conference (CEI).
    The following is the address delivered by the Pope to those present during the meeting:

    Address of the Holy Father
    Dear brothers and sisters,
    I am truly very pleased to meet you. This Hall, which is between the Basilica and the Square, is filled with the emotions that accompanied recent events. Indeed, the Pope must cross it in order to look out from the central Loggia. Beloved Pope Francis did so for his last Easter Urbi et Orbi Message, which was his extreme, intense appeal for peace for all peoples. And I too, on the evening of the election, wanted to echo the announcement of the Risen Lord: “Peace be with you!” (cf. Lk 24:3; Jn 20:19).
    I thank you for your prayer and for that of your communities: I am in great need of them! I am grateful, in particular, to Cardinal Zuppi, also for the words he addressed to me. I greet the three Vice Presidents, the Secretary General, and every one of you. The history of the Church in Italy shows the particular bond that unites you to the Pope and that – according to the Statutes of the Italian Episcopal Conference – “qualifies in a special way the communion of the Conference with the Roman Pontiff” (Art. 4 § 2). Following the example of my predecessors, I too am aware of the relevance of this “common and particular” relationship, as it was defined by Saint Paul VI, speaking at the first General Assembly of the Italian Episcopal Conference (cf. Address, 23 June 1966).
    In exercising my ministry together with you, dear brothers, I would like to be inspired by the principles of collegiality, which were elaborated by Vatican Council II; in particular, the Decree Christus Dominus, which emphasizes that the Lord Jesus constituted the Apostles in the manner of a college or stable class, of which he placed Peter, chosen from among them (cf. n. 19). It is in this way that you are called to live out your ministry: collegiality among yourselves and collegiality with the successor of Peter.
    This principle of communion is also reflected in a healthy cooperation with the civil authorities. The Italian Episcopal Conference is indeed a space for discussion and the synthesis of the bishops’ thought regarding issues most relevant for the common good. Where necessary, it guides and coordinates the relations between the individual bishops and the regional episcopal Conferences with such authorities at the local level.
    Pope Benedict XVI, in 2006, described the Church in Italy as “a lively reality … which conserves a capillary presence in the midst of people of every age and level” and where “Christian traditions often continue to be rooted and to produce fruit” (Address to participants in the Fourth National Ecclesial Convention, 19 October 2006). Nevertheless, the Christian Community in this country has been facing new challenges for some time, linked to secularism, a certain disaffection with the faith, and the demographic crisis. In this context, Pope Francis observed, “It takes boldness to avoid getting used to situations that are so deeply rooted as to seem normal or insurmountable. Prophecy”, he says, “does not exact wrenches but courageous choices, proper for a true ecclesial community: they lead us to allow ourselves to be ‘troubled’ by events and persons and to enter into human situations, animated by the healing spirit of the Beatitudes” (Address at the opening of the 70th General Assembly of the Italian Episcopal Conference, 22 May 2017).
    By virtue of the special bond between the Pope and the Italian bishops, I would like to indicate some pastoral concerns that the Lord places in our path and which require reflection, concrete action and evangelical witness.
    First of all, there is a need for renewed zeal in the proclamation and transmission of faith. It is a question of placing Jesus Christ at the centre and, following the path indicated by Evangelii gaudium, helping people to live out a personal relationship with Him, to discover the joy of the Gospel. In a time of great fragmentation, it is necessary to return to the foundation of our faith, to the kerygma. This is the first major commitment that motivates all the others: to bring Christ “into the veins” of humanity (cf. Apostolic Constitution Humanae salutis, 3), renewing and sharing the apostolic mission: “What we have seen and heard, we proclaim now to you” (1 Jn 1:3). And it is a question of discerning the ways in which the Good News can be made to reach everyone, with pastoral actions capable of intercepting those who are most distant, and with tools suitable for the renewal of catechesis and the languages of proclamation.
    The relationship with Christ calls on us to develop a pastoral focus on the theme of peace. Indeed, the Lord sends us into the world to bring his same gift: “Peace be with you!”, and to become its creators in everyday life. I am thinking of parishes, neighbourhoods, areas within the country, the urban and existential peripheries. There, where human and social relationships become difficult and conflict takes shape, perhaps subtly, a Church capable of reconciliation must make herself visible. The apostle Paul urges us, “If possible, on your part, live at peace with all” (Rm 12:18); it is an invitation that entrusts a tangible portion of responsibility to every person. I hope, then, that every diocese may promote pathways of education in non-violence, mediation initiatives in local conflicts, and welcoming projects that transform fear of the other into an opportunity for encounter. May every community become a “house of peace”, where one learns how to defuse hostility through dialogue, where justice is practiced and forgiveness is cherished. Peace is not a spiritual utopia: it is a humble path, made up of daily gestures that interweave patience and courage, listening and action, and which demands today, more than ever, our vigilant and generative presence.
    Then there are the challenges that call into question respect for the dignity of the human person. Artificial intelligence, biotechnologies, data economy and social media are profoundly transforming our perception and our experience of life. In this scenario, human dignity risks becoming diminished or forgotten, substituted by functions, automatism, simulations. But the person is not a system of algorithms: he or she is a creature, relationship, mystery. Allow me, then, to express a wish: that the journey of the Churches in Italy may include, in real symbiosis with the centrality of Jesus, the anthropological vision as an essential tool of pastoral discernment. Without lively reflection on the human being – in its corporeality, its vulnerability, its thirst for the infinite and capacity for bonding – ethics is reduced to a code and faith risks becoming disembodied.
    I particularly recommend cultivating a culture of dialogue. It is good for all ecclesial realities – parishes, associations and movements – to be spaces of intergenerational listening, of comparison with different worlds, of caring about words and relationships. Because only where there is listening can communion be born, and only where there is communion does truth become credible. I encourage you to continue on this path!
    The proclamation of the Gospel, peace, human dignity, dialogue: these are the coordinates through which you can be a Church that incarnates the Gospel and is a sign of the Kingdom of God.
    In conclusion, I would like to leave you with some exhortations for the near future. In the first place: go forward in unity, thinking especially of the synodal path. The Lord, Saint Augustine writes that the Lord, in order to keep his body well-composed and in peace, exhorts the Church, through the Apostle Paul: The eye cannot say to the hand, I do not need you, nor again the head to the feet, I do not need you. If the whole body were an eye, where would the hearing be? If the whole body were hearing, where would the sense of smell be? Stay united and do not defend yourselves against the provocations of the Spirit. Synodality becomes a mindset, in the heart, in decision-making processes and in ways of acting.
    Secondly, look to tomorrow with serenity, and do not be afraid to make courageous choices! No-one can prevent you from being close to the people, sharing life, walking with the last, serving the poor. No-one can prevent you from proclaiming the Gospel, and it is the Gospel that we are invited to bring, because it is this that everyone, ourselves first, need in order to live well and to be happy.
    Take care that the lay faithful, nourished with the Word of God and formed in the social doctrine of the Church, are agents of evangelization in the workplace, in schools, in hospitals, in social and cultural environments, in the economy, and in politics.
    Dear friends, let us walk together, with joy in our heart and song on our lips. God is greater than our mediocrity: let us allow ourselves to be drawn to Him! Let us trust in his providence. I entrust you all to the protection of Mary Most Holy: Our Lady of Loreto, of Pompeii and of the countless shrines to be found throughout Italy. And I accompany you with my blessing. Thank you.

    MIL OSI Europe News –

  • MIL-OSI Europe: Audience with the Bishops of the Italian Episcopal Conference

    Source: The Holy See

    This morning, in the Vatican Apostolic Palace, the Holy Father Leo XIV received in audience the bishops of the Italian Episcopal Conference (CEI).
    The following is the address delivered by the Pope to those present during the meeting:

    Address of the Holy Father
    Dear brothers and sisters,
    I am truly very pleased to meet you. This Hall, which is between the Basilica and the Square, is filled with the emotions that accompanied recent events. Indeed, the Pope must cross it in order to look out from the central Loggia. Beloved Pope Francis did so for his last Easter Urbi et Orbi Message, which was his extreme, intense appeal for peace for all peoples. And I too, on the evening of the election, wanted to echo the announcement of the Risen Lord: “Peace be with you!” (cf. Lk 24:3; Jn 20:19).
    I thank you for your prayer and for that of your communities: I am in great need of them! I am grateful, in particular, to Cardinal Zuppi, also for the words he addressed to me. I greet the three Vice Presidents, the Secretary General, and every one of you. The history of the Church in Italy shows the particular bond that unites you to the Pope and that – according to the Statutes of the Italian Episcopal Conference – “qualifies in a special way the communion of the Conference with the Roman Pontiff” (Art. 4 § 2). Following the example of my predecessors, I too am aware of the relevance of this “common and particular” relationship, as it was defined by Saint Paul VI, speaking at the first General Assembly of the Italian Episcopal Conference (cf. Address, 23 June 1966).
    In exercising my ministry together with you, dear brothers, I would like to be inspired by the principles of collegiality, which were elaborated by Vatican Council II; in particular, the Decree Christus Dominus, which emphasizes that the Lord Jesus constituted the Apostles in the manner of a college or stable class, of which he placed Peter, chosen from among them (cf. n. 19). It is in this way that you are called to live out your ministry: collegiality among yourselves and collegiality with the successor of Peter.
    This principle of communion is also reflected in a healthy cooperation with the civil authorities. The Italian Episcopal Conference is indeed a space for discussion and the synthesis of the bishops’ thought regarding issues most relevant for the common good. Where necessary, it guides and coordinates the relations between the individual bishops and the regional episcopal Conferences with such authorities at the local level.
    Pope Benedict XVI, in 2006, described the Church in Italy as “a lively reality … which conserves a capillary presence in the midst of people of every age and level” and where “Christian traditions often continue to be rooted and to produce fruit” (Address to participants in the Fourth National Ecclesial Convention, 19 October 2006). Nevertheless, the Christian Community in this country has been facing new challenges for some time, linked to secularism, a certain disaffection with the faith, and the demographic crisis. In this context, Pope Francis observed, “It takes boldness to avoid getting used to situations that are so deeply rooted as to seem normal or insurmountable. Prophecy”, he says, “does not exact wrenches but courageous choices, proper for a true ecclesial community: they lead us to allow ourselves to be ‘troubled’ by events and persons and to enter into human situations, animated by the healing spirit of the Beatitudes” (Address at the opening of the 70th General Assembly of the Italian Episcopal Conference, 22 May 2017).
    By virtue of the special bond between the Pope and the Italian bishops, I would like to indicate some pastoral concerns that the Lord places in our path and which require reflection, concrete action and evangelical witness.
    First of all, there is a need for renewed zeal in the proclamation and transmission of faith. It is a question of placing Jesus Christ at the centre and, following the path indicated by Evangelii gaudium, helping people to live out a personal relationship with Him, to discover the joy of the Gospel. In a time of great fragmentation, it is necessary to return to the foundation of our faith, to the kerygma. This is the first major commitment that motivates all the others: to bring Christ “into the veins” of humanity (cf. Apostolic Constitution Humanae salutis, 3), renewing and sharing the apostolic mission: “What we have seen and heard, we proclaim now to you” (1 Jn 1:3). And it is a question of discerning the ways in which the Good News can be made to reach everyone, with pastoral actions capable of intercepting those who are most distant, and with tools suitable for the renewal of catechesis and the languages of proclamation.
    The relationship with Christ calls on us to develop a pastoral focus on the theme of peace. Indeed, the Lord sends us into the world to bring his same gift: “Peace be with you!”, and to become its creators in everyday life. I am thinking of parishes, neighbourhoods, areas within the country, the urban and existential peripheries. There, where human and social relationships become difficult and conflict takes shape, perhaps subtly, a Church capable of reconciliation must make herself visible. The apostle Paul urges us, “If possible, on your part, live at peace with all” (Rm 12:18); it is an invitation that entrusts a tangible portion of responsibility to every person. I hope, then, that every diocese may promote pathways of education in non-violence, mediation initiatives in local conflicts, and welcoming projects that transform fear of the other into an opportunity for encounter. May every community become a “house of peace”, where one learns how to defuse hostility through dialogue, where justice is practiced and forgiveness is cherished. Peace is not a spiritual utopia: it is a humble path, made up of daily gestures that interweave patience and courage, listening and action, and which demands today, more than ever, our vigilant and generative presence.
    Then there are the challenges that call into question respect for the dignity of the human person. Artificial intelligence, biotechnologies, data economy and social media are profoundly transforming our perception and our experience of life. In this scenario, human dignity risks becoming diminished or forgotten, substituted by functions, automatism, simulations. But the person is not a system of algorithms: he or she is a creature, relationship, mystery. Allow me, then, to express a wish: that the journey of the Churches in Italy may include, in real symbiosis with the centrality of Jesus, the anthropological vision as an essential tool of pastoral discernment. Without lively reflection on the human being – in its corporeality, its vulnerability, its thirst for the infinite and capacity for bonding – ethics is reduced to a code and faith risks becoming disembodied.
    I particularly recommend cultivating a culture of dialogue. It is good for all ecclesial realities – parishes, associations and movements – to be spaces of intergenerational listening, of comparison with different worlds, of caring about words and relationships. Because only where there is listening can communion be born, and only where there is communion does truth become credible. I encourage you to continue on this path!
    The proclamation of the Gospel, peace, human dignity, dialogue: these are the coordinates through which you can be a Church that incarnates the Gospel and is a sign of the Kingdom of God.
    In conclusion, I would like to leave you with some exhortations for the near future. In the first place: go forward in unity, thinking especially of the synodal path. The Lord, Saint Augustine writes that the Lord, in order to keep his body well-composed and in peace, exhorts the Church, through the Apostle Paul: The eye cannot say to the hand, I do not need you, nor again the head to the feet, I do not need you. If the whole body were an eye, where would the hearing be? If the whole body were hearing, where would the sense of smell be? Stay united and do not defend yourselves against the provocations of the Spirit. Synodality becomes a mindset, in the heart, in decision-making processes and in ways of acting.
    Secondly, look to tomorrow with serenity, and do not be afraid to make courageous choices! No-one can prevent you from being close to the people, sharing life, walking with the last, serving the poor. No-one can prevent you from proclaiming the Gospel, and it is the Gospel that we are invited to bring, because it is this that everyone, ourselves first, need in order to live well and to be happy.
    Take care that the lay faithful, nourished with the Word of God and formed in the social doctrine of the Church, are agents of evangelization in the workplace, in schools, in hospitals, in social and cultural environments, in the economy, and in politics.
    Dear friends, let us walk together, with joy in our heart and song on our lips. God is greater than our mediocrity: let us allow ourselves to be drawn to Him! Let us trust in his providence. I entrust you all to the protection of Mary Most Holy: Our Lady of Loreto, of Pompeii and of the countless shrines to be found throughout Italy. And I accompany you with my blessing. Thank you.

    MIL OSI Europe News –

  • MIL-OSI Africa: Minister Hlabisa to visit communities affected by storm in Impendle

    Source: South Africa News Agency

    The Minister of Cooperative Governance and Traditional Affairs, Velenkosini Hlabisa, is set to visit the Impendle Local Municipality after the area was severely affected by recent strong winds.

    According to the department, the visit, scheduled for Tuesday, is in response to the intense weather conditions that have caused widespread damage and hardship for more than 100 families in the municipality, with Wards 1 and 5 being particularly hard hit by the storms. 

    The Minister will be accompanied by the Premier of KwaZulu-Natal, Thamsanqa Ntuli. 

    “The Premier and Minister will conduct on-site assessments, engage with affected residents, and ensure that urgent relief measures are being implemented,” the department said in a statement. 

    This joint visit underscores government’s commitment at both provincial and national levels to respond swiftly and effectively to natural disasters and support vulnerable communities through recovery and rebuilding efforts. 

    On Friday last week, President Cyril Ramaphosa visited Mthatha in the Eastern Cape to offer support and assess the damage following the recent floods that killed about 90 people.

    The floods have caused widespread destruction to homes, government facilities, roads, hospitals, and schools, highlighting the urgent need to tackle climate change. 

    President Ramaphosa highlighted that this is becoming a new reality for South Africa, with both Eastern Cape and KwaZulu-Natal experiencing recurring annual disasters.

    “The Eastern Cape and KwaZulu-Natal are now prone to continuous annual disasters that are causing a lot of pain and suffering amongst our people, where a number of people are dying,” he said then. 

    Government officials pledged continued support to the affected communities, promising to assist families in their time of grief.

    President Ramaphosa also took the time to extend his condolences to the people of KwaZulu-Natal, who are facing significant challenges due to climate change. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Five suspects to appear in Durban Commercial Crimes Court

    Source: South Africa News Agency

    Five suspects arrested over the weekend for fraud and corruption are scheduled to appear in the Durban Commercial Crimes Court today.

    The arrest is related to the issuing of passports at the Department of Home Affairs offices in KwaZulu-Natal.

    A Home Affairs-led law enforcement operation, supported by the Directorate for Priority Crime Investigation, busted a syndicate involved in passport fraud at the uMngeni and Commercial Road offices in Durban. 

    Among the five people arrested are a former Home Affairs official from the Prospecton office, a municipal project volunteer at the Commercial Road office, and three members of the public – one of whom was found with 226 passports that were recently stolen from the uMngeni Home Affairs office.

    Earlier this year, Home Affairs Minister, Dr Leon Schreiber, warned at the launch of the Border Management and Immigration Anti-Corruption Forum (BMIACF) that South Africa was increasingly becoming a “syndicate society”, and that Home Affairs was determined to work with other law enforcement agencies to crack down on syndicates operating in this environment.

    The operation follows the dismissal of 33 corrupt officials since July last year, as well as the criminal conviction of eight offenders, with sentences ranging from four to 18 years in prison.

    The successful operation was initiated by the Home Affairs’ Counter-Corruption Unit, following information received from the public.

    One of the suspects was found with keys to the Home Affairs offices on Commercial Road and at Prospecton. 

    The same suspect was also found with copies of enabling documents that did not belong to him. 

    Two further suspects have been identified as members of this syndicate but the Hawks remain on the hunt for them.

    “This latest operation lands another blow in our ongoing cleanup campaign at Home Affairs, which is specifically focused on breaking open criminal syndicates. 

    “The details of the case also reaffirms the urgent work we are doing to digitalise all of our processes, so that it becomes impossible for syndicates to penetrate and manipulate our systems. 

    “This combination of ensuring criminals are arrested and prosecuted, and using digital transformation to close the loopholes they exploit is how we will ultimately win the war against corruption,” Schreiber said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Social Development leads relief efforts in flood-stricken OR Tambo District

    Source: South Africa News Agency

    Social Development Minister Sisisi Tolashe has visited the OR Tambo District in the Eastern Cape as part of coordinated efforts by government to offer psychosocial support and social relief packages to the communities adversely affected by the recent floods. 

    The Minister was joined by Eastern Cape MEC for Social Development, Bukiwe Fanta and Speaker of the King Sabata Dalindyebo Local Municipality, Nomamfengu Siyo-Sokutu. 

    During the visit, both the Minister and the MEC extended heartfelt condolences to the families who have lost their loved ones and wished a speedy recovery to those who were injured and currently recovering in hospitals and places of safety.

    “SASSA [South African Social Security Agency] and Home Affairs are working very closely to ensure that death certificates are released, so that the agency can assist the families that will not be able to lay to rest their loved ones with financial assistance,” the department said in a statement on Monday. 

    The principals were accompanied by the National Director-General Peter Netshipale, SASSA CEO Themba Matlou, Acting CEO of National Development Agency (NDA) Thabani Buthelezi, SASSA Eastern Cape Regional Manager Bandile Maqetuka, and NDA Provincial Manager, Nokulunga Skeyi. 

    Following the events of the past week, where approximately 90 people lost their lives and thousands displaced, the social development sector with its partners dispatched its personnel to provide assistance to the affected people. 

    SASSA, through its Social Relief of Distress (SRD) programme, has acted swiftly to assist families whose homes were severely affected during the floods. To this end, SASSA has been active on three established sites, where people are served with three nutritious meals a day, reinforcing the agency’s commitment to immediate food security.

    In anticipation of the transition phase, SASSA has developed a disengagement plan aimed at equipping beneficiaries with basic resources to support reintegration and restore a sense of stability. This includes the provision of urgent packs to restore the dignity of the families who have lost everything they had. 

    The department explained that the activation of the Disaster Management Act has enabled SASSA and its partners like the Gift of the Givers and the Church of Jesus Christ of Latter-Day Saints, to provide urgent needed services to the displaced communities. 

    “The work of the agency has been supervised by the Internal Audit Committee to allow proper accountability at the end of the intervention to avoid and protect the resources of government,” the department said. – SAnews.gov.za 

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Building positive relationships in schools

    Source: Scottish Government

    Guidance on behaviour and consequences published.

    New guidance setting out a range of approaches for schools to consider when responding to behaviour has been published.

    Developed with input from headteachers, teaching unions, local government and educational psychologists, the guidance promotes building positive relationships and behaviour across the whole school community. It focuses on improving outcomes by reinforcing positive behaviour and working to reduce the likelihood of negative behaviour occurring in future.

    Various approaches are available to schools, ranging from classroom management approaches, to support strategies and the use of exclusion as a last resort.

    The guidance has been developed in collaboration with the Scottish Advisory Group on Relationships and Behaviour in Schools (SAGRABIS), which is jointly chaired with COSLA, to reflect that it is local government who have the responsibility for delivering education in Scotland.

    During a visit to St Brendan’s Primary School in Motherwell, Education Secretary Jenny Gilruth met with teachers and parents to understand the importance of building positive relationships within schools.

    Ms Gilruth said:

    The majority of children and young people behave well in school, but where someone needs support with their behaviour, it is important that schools can respond in ways that are appropriate, supportive and respond to the needs of each individual child. Evidence clearly shows young people need structure and boundaries to support their development and having predictable consequences helps them to feel safe.

    “Responding to behaviour in our schools requires all members of the school community – staff, children and young people and parents and carers – to work together to identify the values that underpin school life, how this translates into expectations of behaviour, and to support appropriate responses. We want to create a strong partnership between home and school to help create a consistent, supportive environment where children feel safe, respected, and are better able to learn and thrive. 

    “This guidance takes account of the concerns about behaviour I have heard from teachers, support staff and teaching unions, and will be an important tool in ensuring that they are properly supported in our schools.”

    Maura Oates, headteacher at St Brendan’s Primary school said:

    “Here in St. Brendan’s Primary we consistently work hard to ensure the care and wellbeing needs of children and their families are met with warmth, care and consideration. We feel that this results in a calm, relaxed and nurturing environment where children are respectful, supportive and kind to each other.”

    “Our values are evident across the school as we are committed to ensuring very high standards for all children. We consulted all children, parents and staff when creating our vision, values and aims. Our aims reflect Gospel values and the UNCRC. These shared values are evident across the school and are developed across the curriculum. We have a very good understanding of the socio-economic context of the school and its place within the community.”

    Background

    This is the latest commitment to be delivered through the joint Relationships and Behaviour in schools action plan with COSLA.

    Guidance is clear that exclusion should only be used as a last resort, where proportionate and there is no appropriate alternative.

    Guidance on risk assessments will support schools to consider how they manage the risk of harm occurring, or a pattern of behaviour that causes, or is likely to cause, harm to self or others.

    Guidance on fostering positive, inclusive and safe school environments.

    Risk assessment guidance for violent, aggressive and dangerous behaviour.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Scrapping the two child limit to help end child poverty

    Source: Scottish Government

    Shirley-Anne Somerville announces start date for key policy.

    The Scottish Government will effectively scrap the impact of the two-child limit from 2nd March 2026, Social Justice Secretary Shirley-Anne Somerville has confirmed.

    On a visit to Busy Bees Bellfield parent and toddler group in Portobello, Ms Somerville said the introduction of the Two Child Limit Payment will mean 20,000 fewer children will be living in relative poverty in 2026-27, according to Scottish Government modelling.

    Speaking ahead of a statement to parliament on the publication of the annual report on Best Start, Bright Futures, the Scottish Government’s child poverty strategy, Ms Somerville said:

    “The Scottish Government has consistently called on the UK Government to end the two-child cap. Reports suggest that they are looking at the impact it is having. But the evidence is clear and families and Scotland can’t wait any longer for the UK Government to make up its mind to do the right thing and scrap the cap once and for all.

    “The Two Child Limit Payment will begin accepting applications in March next year. At less than 15 months from when we announced this in the Scottish budget, this will be the fastest that a Scottish social security benefit has been delivered.

    “This builds upon the considerable action we have taken in Scotland, including delivering unparalleled financial support through our Scottish Child Payment, investing to clear school meal debts, and continuing to support almost 10,000 children by mitigating the UK Government’s Benefit Cap as fully as possible.

    “However, austerity decisions taken by the UK Government are holding back Scotland’s progress. Modelling published in March makes clear that if the UK Government act decisively on child poverty, they could help to take an estimated 100,000 children out of poverty this year.”

    Background:

    • On average, households with children in the poorest 10% of households are, this year, estimated to be £2,600 a year better off because of Scottish Government policies. This is projected to grow to an average of £3,700 a year by 2029-30. Child poverty modelling: update – gov.scot
    • Scrapping the Two Child Limit will help keep thousands of children out of poverty and reduce the depth of poverty faced for many more. The Scottish Government’s own modelling suggests 20,000 fewer children will be living in relative poverty in 2026-27 once this payment is introduced and the Scottish Fiscal Commission estimates that overall around 43,000 children in Scotland will benefit from mitigation of the two-child limit in 2026-27.
    • The Scottish Fiscal Commission has estimated the cost of the Two Child Limit Payment to be £155 million in the  financial year 2026-2027.

    MIL OSI United Kingdom –

  • Israeli tank shelling kills 51 people awaiting aid trucks in Gaza, ministry says

    Source: Government of India

    Source: Government of India (4)

    Israeli tank shellfire killed at least 51 Palestinians on Tuesday as they awaited aid trucks in Khan Younis in the southern Gaza Strip, the territory’s health ministry said, adding that dozens of others were wounded.

    Medics said residents said Israeli tanks fired shells at crowds of desperate Palestinians awaiting aid trucks along the main eastern road in Khan Younis. They said at least 51 people were killed and 200 wounded, with at least 20 of them in critical condition.

    There was no immediate comment by the Israeli military on the incident.

    Witnesses said Israeli tanks fired at least two shells at thousands of people awaiting aid trucks. Nasser Hospital wards were crowded with casualties, and medical staff had to place some on the ground and in corridors due to the lack of space.

    The incident was the latest in nearly daily mass deaths of Palestinians who were seeking aid in past weeks, including near sites operated by the U.S.-backed Gaza Humanitarian Foundation.

    Local health officials said at least 23 people were killed by Israeli gunfire on Monday as they approached a GHF aid distribution site in Rafah in the southern Gaza Strip.

    The GHF stated in a press release late on Monday that it had distributed more than three million meals at its four distribution sites without incident.

    There was no immediate comment from the Israeli military about Monday’s reports of shootings. In previous incidents, it has occasionally acknowledged troops opening fire near aid sites, while blaming militants for provoking the violence.

    Israel has put responsibility for distributing much of the aid it allows into Gaza into the hands of the GHF, which operates sites in areas guarded by Israeli troops.

    The United Nations has rejected the plan, saying GHF distribution is inadequate, dangerous and violates humanitarian impartiality principles.

    The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023, when Palestinian Hamas militants attacked Israel, killing 1,200 and taking about 250 hostages, according to Israeli allies.

    U.S. ally Israel’s subsequent military assault on Gaza has killed nearly 55,000 Palestinians, according to Gaza’s health ministry, while internally displacing nearly Gaza’s entire population and causing a hunger crisis.

    The assault has also triggered accusations of genocide at the International Court of Justice and of war crimes at the International Criminal Court. Israel denies the accusations.

    EYE ON IRAN

    The escalation is taking place as Palestinians in the Gaza Strip watch the exchange of attacks between Israel and Iran, which began with Israel launching major strikes on Friday.

    Residents of the Gaza Strip have circulated images of wrecked buildings and charred vehicles hit by Iranian missiles in Israeli cities, and some were hopeful the wider conflict could eventually bring peace to their ruined homeland.

    “We live these scenes and pain daily. We are very happy that we saw the day when we saw rubble in Tel Aviv, and they are trying to get out from under the rubble and the houses that were destroyed on top of their residents,” said Gaza man Saad Saad.

    Others said Iran’s response was greater than many, including Israel, had expected.

    “We saw how Iran, despite (showing) a lot of patience on the harm of the Israeli occupation and its frequent attacks and the assassinations carried out on Iranian soil, … it lost patience and the time has come for Iran to teach the Israeli occupation state a lesson,” said another Gaza man, Taysseir Mohaissan.

    With Israel saying its operation could last weeks, fears have grown of a regional war dragging in outside powers.

    Despite efforts by the United States, Egypt and Qatar to restore a ceasefire in Gaza, neither Israel nor Hamas has shown willingness to back down on core demands, with each side blaming the other for the failure to reach a deal.

    Hamas leaders have repeatedly thanked Iran for its military and financial support to the group in its fight against Israel, including during the current war.

    (Reuters)

  • Israeli tank shelling kills 51 people awaiting aid trucks in Gaza, ministry says

    Source: Government of India

    Source: Government of India (4)

    Israeli tank shellfire killed at least 51 Palestinians on Tuesday as they awaited aid trucks in Khan Younis in the southern Gaza Strip, the territory’s health ministry said, adding that dozens of others were wounded.

    Medics said residents said Israeli tanks fired shells at crowds of desperate Palestinians awaiting aid trucks along the main eastern road in Khan Younis. They said at least 51 people were killed and 200 wounded, with at least 20 of them in critical condition.

    There was no immediate comment by the Israeli military on the incident.

    Witnesses said Israeli tanks fired at least two shells at thousands of people awaiting aid trucks. Nasser Hospital wards were crowded with casualties, and medical staff had to place some on the ground and in corridors due to the lack of space.

    The incident was the latest in nearly daily mass deaths of Palestinians who were seeking aid in past weeks, including near sites operated by the U.S.-backed Gaza Humanitarian Foundation.

    Local health officials said at least 23 people were killed by Israeli gunfire on Monday as they approached a GHF aid distribution site in Rafah in the southern Gaza Strip.

    The GHF stated in a press release late on Monday that it had distributed more than three million meals at its four distribution sites without incident.

    There was no immediate comment from the Israeli military about Monday’s reports of shootings. In previous incidents, it has occasionally acknowledged troops opening fire near aid sites, while blaming militants for provoking the violence.

    Israel has put responsibility for distributing much of the aid it allows into Gaza into the hands of the GHF, which operates sites in areas guarded by Israeli troops.

    The United Nations has rejected the plan, saying GHF distribution is inadequate, dangerous and violates humanitarian impartiality principles.

    The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023, when Palestinian Hamas militants attacked Israel, killing 1,200 and taking about 250 hostages, according to Israeli allies.

    U.S. ally Israel’s subsequent military assault on Gaza has killed nearly 55,000 Palestinians, according to Gaza’s health ministry, while internally displacing nearly Gaza’s entire population and causing a hunger crisis.

    The assault has also triggered accusations of genocide at the International Court of Justice and of war crimes at the International Criminal Court. Israel denies the accusations.

    EYE ON IRAN

    The escalation is taking place as Palestinians in the Gaza Strip watch the exchange of attacks between Israel and Iran, which began with Israel launching major strikes on Friday.

    Residents of the Gaza Strip have circulated images of wrecked buildings and charred vehicles hit by Iranian missiles in Israeli cities, and some were hopeful the wider conflict could eventually bring peace to their ruined homeland.

    “We live these scenes and pain daily. We are very happy that we saw the day when we saw rubble in Tel Aviv, and they are trying to get out from under the rubble and the houses that were destroyed on top of their residents,” said Gaza man Saad Saad.

    Others said Iran’s response was greater than many, including Israel, had expected.

    “We saw how Iran, despite (showing) a lot of patience on the harm of the Israeli occupation and its frequent attacks and the assassinations carried out on Iranian soil, … it lost patience and the time has come for Iran to teach the Israeli occupation state a lesson,” said another Gaza man, Taysseir Mohaissan.

    With Israel saying its operation could last weeks, fears have grown of a regional war dragging in outside powers.

    Despite efforts by the United States, Egypt and Qatar to restore a ceasefire in Gaza, neither Israel nor Hamas has shown willingness to back down on core demands, with each side blaming the other for the failure to reach a deal.

    Hamas leaders have repeatedly thanked Iran for its military and financial support to the group in its fight against Israel, including during the current war.

    (Reuters)

  • MIL-OSI Russia: What has been prepared for children at the Summer in Moscow sites from June 18 to 22

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Fairy tale quizzes, drawing workshops, retro games, the Rock, Paper, Scissors championship and much more — as part of the Summer in Moscow for Children project, a rich program has been prepared for young Muscovites and their parents. What to do at city venues from June 18 to 22 — in our article.

    Retro games and drawing workshops

    The capital’s venues are hosting a large-scale championship “Rock, Paper, Scissors”. Every day, children and adults can compete on Tverskoy Boulevard, as well as in the southwest of the capital. On June 18, the competition will be held on Nagornaya Street (building 29, building 4), on June 19, participants are expected in Vorontsovsky Park (building 3), and on June 20 – on Feodosiyskaya Street (building 7, building 6). The venues will be open from 15:00 to 20:00.

    In addition to the championship in the popular children’s game, realistic races will also take place on Tverskoy Boulevard. Participants will be able to immerse themselves in the world of motorsports, sitting in racing seats and pressing the pedals. Children from 150 to 210 centimeters tall are invited.

    A large retro games area has been prepared for visitors. There you can play on iconic consoles from different years. Pickleball, gorodki, petanque, croquet, ping-pong and even a large climbing wall await guests. Professionals will help you understand the rules and observe safety precautions.

    Fans of creativity will enjoy Chistoprudny Boulevard. There, in the fresh air, everyone will be taught how to create landscapes, sketches, and still lifes in various artistic techniques. On June 18, guests will be given a master class called “Art Beach”, on June 19, a master class called “Summer on the Chile”, and on June 20, an “Art Challenge”.

    The duration of one lesson is 45 minutes. Master classes will be held every hour from 12:00 to 20:00.

    Painting lessons will also be organized on Sretensky Boulevard. On June 18, there will be a master class called “The Scarlet Flower”, on June 19 — “City Streets”, and on June 20 — “Blooming Field”. Classes will be held every hour from 12:00 to 20:00.

    Guests will also be able to create unique works of art at the Art Studio on Strastnoy Boulevard. Children over six years old are invited to participate. On June 18, there will be master classes in watercolor painting called Fruit Lemonade and Starry Night. On June 19, children will be able to draw Moscow landmarks and summer clouds with wax crayons. The classes on June 20 will once again be devoted to watercolor painting. Guests will be introduced to this technique at the master classes Flower Stained Glass and Fruit Slices. The classes will be held from 12:00 to 19:00.

    In addition, from 12:00 to 20:00 on Strastnoy Boulevard, young visitors will be able to enjoy a busy board with coloring pages, an art house with stickers, and a basketball court.

    DIY Bracelet and Party with DJ

    An active program has also been prepared in the Green Market of the Made in Moscow project on Bolotnaya Square (Repinsky Square). On June 19 at 14:15 on the main stage there will be a meeting with TRIZ pedagogy expert Evgeniya Gin. She will tell children and their parents how to develop thinking and be creative.

    At 18:00, the Green Market will host a master class on making children’s bracelets. Participants will be told how to create a design, determine the size of the future product, and tie reliable knots.

    At 20:00, the film “Fedya. People’s Footballer” will be shown at the “Youth Point” festival on Bolotnaya Square. Participation in the event is free, but a registration.

    And every Wednesday at 8:00 pm on Bolotnaya Square there are youth parties with a DJ.

    Circus divertissements and musical performances

    All summer long, on Fridays, Saturdays and Sundays, there will be circus entertainment for the whole family. Aerial gymnasts, equilibrists, jugglers, clowns and four-legged artists will perform for guests in the Moskino Cinema Park and Izmailovsky Park. Also on June 20, the third tent will open in the Yuzhnoye Butovo Landscape Park. Spectators will be able to see acrobatic numbers, clown skits and exciting stunts with the participation of artists from the famous Bolshoi Moscow Circus on Vernadsky Avenue.

    On Fridays, performances are held from 19:00 to 20:30, and on Saturdays and Sundays – from 14:00 to 15:30 and from 18:00 to 19:30. You can find out more and buy tickets on the official website project.

    The Zaryadye Hall has also prepared a children’s program for the weekend. On June 22, as part of the III Summer Music Festival, the symphonic fairy tale with sand animation “The Wizard of the Emerald City” will return to its stage. On the same day, June 22, People’s Artist of Russia Yulia Rutberg, together with the State Academic Big Symphony Orchestra named after P.I. Tchaikovsky under the direction of Denis Lotoev, will present the program “Artist and War”. The program includes wartime memories from diaries and memoirs, excerpts from articles related to the difficult years of Russian history, as well as music by great composers of the 20th century.

    And at the festival “Theater Boulevard” Young residents and guests of the capital will be able to see several productions. On June 17, a musical performance will be shown on Chistoprudny Boulevard “Curious Baby Elephant” about children asking questions and adults who are too lazy to answer them. Starts at 16:00.

    On the same day, at the Clown House on Tsvetnoy Boulevard at 8:00 p.m. you can watch a production “Mechanicus”This is an interactive performance with pantomime and poetic clowning.

    On June 18, in the amphitheater of the Polytech Museum Park, artists from the Moscow Illusion Theater will perform a modern show “Teleport”. Guests can expect tricks with disappearances, transformations and flights. The beginning is at 19:00. And on June 19 at 18:00 there will be a performance “My grandfather was a cherry”It is based on a touching, funny and at the same time sad story about family, devotion and loneliness.

    On June 20 at 16:00 on Chistoprudny Boulevard the production will be presented “Kashtanka”The play will tell about the adventures of a young dog who lost his not very good owner in a big city.

    On June 21, a performance will be shown in the amphitheater of the Polytech Museum Park “Family Bakery”. Starts at 17:00.

    Evening readings

    Citizens are also invited to the project’s events. “Book in the City”.

    On June 21 at 12:00, Pushkin Square will host a quiz on the sea tales “The Little Mermaid,” “Sinbad the Sailor,” and “Sadko,” as well as a master class “The Sea” on creating appliques for children aged six to nine.

    On June 22 at 4:00 p.m. there will be a presentation of the book “Letters from Lidochka M.” dedicated to children of wartime.

    And at 18:00 in the park there will be evening readings with Anton Shagin. The author will also present his book “Neblyandiya. Poems for Children”.

    Introduction to the world of cinema

    On June 21 and 22, the Moskino Cinema Park invites you to go on a walk. On the family excursion “Cinema Expedition”, young guests and their parents will learn how films are shot in different genres, walk through Moscow in the 1940s, see post-war Berlin and a fragment of the Reichstag steps. Participants will also look into the props and costume center “Firebird” and examine rare items that have appeared in the frame more than once. The excursion will be of interest to children over 10 years old and adults who want to learn new facts about the creation of cinema.

    The excursions will take place at 12:00, 14:00, 15:00 and 16:00. You can choose a convenient time and pay for participation atwebsite cinema park.

    Entertaining origami master classes have also been prepared for guests. On the central square of the cinema park on weekends at 12:00 and 15:35, young visitors will make paper poppies and carnations, at 13:10 and 16:45 – cranes, and at 14:20 and 17:55 – a three-dimensional composition “Eternal Flame”. You can take part in the master class atentrance ticket to the cinema park.

    The Gorky Film Studio also invites young Muscovites and their parents on a tour. Guests are expected on June 18 at 15:00 on Sergei Eisenstein Street (8, building 1). Participants will learn about the history of the film studio and how films that have become part of the golden fund of Russian cinema were created. Guests will be told interesting facts about the lives and work of outstanding directors and actors, and will be shown costumes and props from the films Guest from the Future (1984), The Kingdom of Crooked Mirrors (1963), Frost (1964), Seventeen Moments of Spring (1973), Officers (1971) and others.

    The excursion will be interesting for children over six years old. You can buy a ticket atwebsite.

    Program in museums and parks

    Interesting programs have been prepared for young Muscovites and their parents in the capital’s museums and parks.

    On June 20 from 15:00 to 16:00 in the forest libraries in the Vorontsovo estate, the 50th Anniversary of October Park and the Khodynka Field Park a children’s quiz will be held. Participants will recall forgotten literary facts about the life and work of writers and learn new ones.

    The Inspiration Festival will be held at the Kolomenskoye Museum-Reserve on June 21. Guests will enjoy a musical program, performances by orchestras and jazz bands, master classes in art therapy in the open air, functional training, yoga and stretching. Admission is free. The landmark is the palace of Tsar Alexei Mikhailovich.

    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.

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    MIL OSI Russia News –

  • MIL-OSI United Nations: 17 June 2025 WHO response to challenging cholera outbreak in the Democratic Republic of the Congo

    Source: World Health Organisation

    On 5 May 2025, the Ministry of Public Health, Hygiene, and Social Welfare of the Democratic Republic of the Congo declared a cholera outbreak, following laboratory confirmation of cases in multiple provinces of the country.

    A team of WHO experts visits the Cholera Treatment Unit in Buhimba, located in the Goma Health Zone. The visit reflects WHO’s ongoing commitment to strengthening the cholera response in conflict-affected regions of North Kivu, Democratic Republic of the Congo Credit: WHO/Daniel Paluku

    From 1 January to 8 June 2025, the Democratic Republic of the Congo reported 29 392 suspected cholera cases and 620 deaths. The mortality rate of 2% was an indication of gaps in reaching cholera patients with early and adequate treatment. The provinces of Tanganyika, Haut-Katanga, Sud-Kivu, Maniema, and Tshopo are among the most affected. Severe flooding in eastern provinces and high population mobility along the Congo River are accelerating the spread of the disease, while ongoing humanitarian crises and other outbreaks, such as mpox and measles, are straining national health capacities.

    In response to the cholera outbreak, the Government of the Democratic Republic of the Congo, with support from WHO and other partners, activated the Incident Management System to lead and coordinate the national response. The primary objective of the response is to interrupt transmission and reduce cholera deaths. Rapid response teams have been deployed to affected areas to support local health authorities with case detection and investigation, clinical management, water and sanitation activities, and laboratory diagnosis.

    The WHO team delivers treatment kits to the Buhimba Cholera Treatment Unit in Goma Health Zone, supporting the ongoing response to the cholera outbreak. Credit: WHO/Daniel Paluku

    To support the national outbreak response, WHO is mobilizing resources for the most affected. This includes the deployment of emergency inter-agency kits to treat over 10 000 people, supplemented by eight cholera kits for the treatment of an additional 800 patients in North Kivu province. WHO also deployed cholera supplies in Kinshasa, Haut Katanga, Tanganyika, South Kivu, Kongo central, Tshopo and Maniema Provinces. These efforts are further strengthened by targeted interventions, including the provision of emergency beds to health facilities in Kinshasa (Pakadjuma) and Kongo Central, as well as the provision of free medical care in Muanda.

    Ms Joyce Kabugho, manager of the Buhimba Cholera Treatment Unit, joins the WHO team during a visit to the CTU in Goma Health Zone to assess ongoing response efforts.  Goma, Democratic Republic of the Congo Credit: WHO/Daniel Paluku

    In North Kivu, WHO has delivered treatment kits to Buhimba Cholera Treatment Unit (CTU) in the Goma Health Zone and Mugunga CTU in the Karisimbi Health Zone. Field teams, including risk communication and community engagement specialists, have conducted assessments to evaluate and strengthen the capacity of cholera facilities to provide timely and effective patient care.

    A mother tends to her child receiving care for cholera at the Mugunga Cholera Treatment Unit in Karisimbi Health Zone. WHO extends its gratitude to UNCERF for the vital support in the fight against cholera in North Kivu. Credit: WHO/Daniel Paluku

    “Despite the observed decrease in cases in some areas, the cholera situation in North Kivu remains deeply concerning here. Response efforts are severely hindered by ongoing insecurity, which restricts access to the most vulnerable populations”, said Ms Joyce Kabugho, manager of the Buhimba CTU in North Kivu.

    Elvis Mulamba from WHO’s Risk Communication and Community Engagement team raises awareness among female vendors in the Shasha area, in Kirotshe health zone, promoting hygiene and handwashing practices as part of the cholera outbreak response. Credit: WHO

    Ntakakubwine Eugénie, 52, mother of 10, is more than a Community Outreach Worker. For 10 years, she has been a trusted figure, a reference point, and a guardian of public health in the Mabanga area, in the Goma Health Zone. She works at the Community Oral Rehydration Point at the Alleluia Buhimba Health Center. Every day, her home becomes a relief centre.

    WHO is also strengthening the capacity of the Ministry of Public Health, Hygiene, and Social Welfare by deploying 7275 community health workers (CHWs) across 13 provinces, including Kinshasa, for an initial period of three months. These CHWs play a critical role in community engagement by raising awareness about cholera prevention, distributing oral rehydration salts (ORS), and facilitating timely access to treatment for affected individuals.

    A young girl prepares to collect water from Lake Kivu – an essential daily task that carries hidden danger. In North Kivu, where conflict continues to displace communities, unsafe water sources like this remain a major driver of cholera transmission. WHO warns that without access to clean water, the most vulnerable continue to face life-threatening risks. Credit: WHO/Daniel Paluku

    Across North Kivu and other affected zones, deteriorating WASH conditions – exacerbated by recent armed clashes and population displacement – are increasing the risk of cholera spread.

    WHO’s Risk Communication and Community Engagement team raises awareness in the Shasha area, in Kirotshe health zone, promoting hygiene and handwashing practices as part of the cholera outbreak response. Credit: WHO/ Elvis Mulamba

    The country is also set to begin a reactive oral cholera vaccination campaign targeting 11 health zones across four provinces: Haut-Katanga, Tanganyika, Maniema, and Tshopo. Nearly 3 million vaccine doses have been received from the International Coordinating Group (ICG) on Vaccine Provision, with the campaign launch date to be announced soon.

    Dr Léopold Ouédraogo, WHO’s Multi-Crisis Response Incident Manager in North Kivu, leads a team visit to the second Cholera Treatment Unit in Mugunga, located in the Karisimbi Health Zone of Goma. The visit underscores WHO’s commitment to strengthening cholera response in conflict-affected areas. Mugunga, Karisimbi Health Zone, Goma, DRC. Credit: WHO/Daniel Paluku

    “WHO continues to work closely with the Ministry of Health and partners to contain the outbreak, strengthen surveillance, and ensure access to life-saving care. However, sustained international support is essential to prevent further loss of life and build long-term resilience”, says Dr Boureima Hama Sambo, WHO Representative for the Democratic Republic of the Congo.  

    MIL OSI United Nations News –

  • MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Namibia

    Source: IMF – News in Russian

    June 17, 2025

    • Namibia’s economy faces challenges from heightened global trade policy tensions, increased weather shocks, a structural shift in the global diamond market, and high structural unemployment.
    • Ensuring macroeconomic stability requires maintaining fiscal prudence while creating space for growth-enhancing measures, managing the monetary policy to safeguard the peg, and enhancing the resilience of the financial sector.
    • To generate employment through inclusive private sector-led growth that is weather-shock-resilient, bold structural reforms are essential. Additionally, a comprehensive strategy is needed to leverage the potential opportunities presented by recent oil discoveries.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for Namibia.[1] The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    Namibia’s economic growth decelerated from 5.4 percent in 2022 to 3.7 percent in 2024 as a decline in production in response to lower diamond prices outweighed momentum stemming from rising gold and uranium prices. Oil exploration plateaued in 2024 following a spike in 2023, while agriculture contracted sharply due to the drought of 2023–24, the most severe in a century. Inflation has fallen, reflecting a drop in food and fuel prices in international markets.

    Looking ahead, growth is projected to remain subdued in the near and medium term. The end of the drought is expected to boost growth in 2025; however, increased global trade policy uncertainty, particularly related to U.S. tariffs, and the weak diamond market will dampen momentum, with growth forecast at 3¾ percent for 2025 and 2026. Over the medium term, growth is projected to be about 3 percent, constrained by structural rigidities despite increased public capital expenditure. Average CPI inflation is projected to ease to 4.1 percent in 2025 and remain around 4.5 percent in the medium term.

    Risks to the outlook are tilted to the downside. Key external downside risks include commodity price fluctuations, further worsening of global trade tensions, a deepening of economic fragmentation, and tighter global financial conditions. Domestic downside risks include social discontent resulting from continued high unemployment and inequality and increased volatility associated with weather shocks. Upside risks include an easing of global trade policy tensions and faster development of oil, gas, and green hydrogen projects.

    Executive Board Assessment[3]

    Executive Directors agreed with the thrust of the staff appraisal. They took positive note of Namibia’s economic resilience, with slowing inflation and improved external position, despite the challenging external environment and welcomed the new government’s commitment to fostering inclusive growth and build resilience to climate shocks. Noting the subdued growth outlook reflecting global trade policy uncertainty and domestic structural rigidities, high unemployment, and inequality, Directors emphasized the need for further efforts to harness Namibia’s economic potential and raise per capita income by promoting a private sector led, inclusive, weather resilient, and diversified economy.

    Directors welcomed the authorities’ commitment to maintaining fiscal discipline and creating space for growth enhancing measures. They called for sustained and larger fiscal consolidation over the medium term to entrench the favorable public debt dynamics and strengthen the external position. Directors stressed the need to accelerate fiscal reforms including enacting a comprehensive civil service reform to contain the wage bill, state owned enterprise reforms, strengthening public financial and investment management, and enhancing tax administration to solidify fiscal consolidation. At the same time, they recommended increasing public investment to enhance growth, expanding social protection, and building resilience to weather shocks. They encouraged the authorities to continue their efforts to establish, with Fund technical assistance, a strong governance framework for the sovereign wealth fund and a natural resource management framework to safeguard long term macroeconomic stability and support economic development.

    In the absence of capital outflows, Directors recommended gradually aligning the policy rate with that of the South African Reserve Bank (SARB) to safeguard the currency peg, taking advantage of SARB’s rate reductions. They stressed, however, that the Bank of Namibia should remain vigilant to economic conditions.

    Directors welcomed the continued progress in enhancing financial sector resilience, notably through the introduction of the bank resolution policy. They encouraged the authorities to continue to monitor risks including from the sovereign bank nexus and household debt. Directors recommended finalizing additional policy measures, including counter cyclical capital buffers and strengthened cooperation on crisis resolution. Continued efforts to strengthen the AML/CFT framework are crucial to expedite removal from the FATF grey list.

    Directors highlighted that bold structural reforms are essential to fostering sustainable, inclusive, and private sector led growth and improving external competitiveness. They recommended addressing key barriers, including by improving human capital and reducing skill mismatches, enhancing the business climate, strengthening governance, and fostering digitalization. Directors supported developing a set of policies aimed at harnessing prospective oil, gas, and green hydrogen for economic diversification and job creation.

    It is expected that the next Article IV Consultation with Namibia will be held on the standard 12-month cycle.

     

    Namibia: Selected Economic Indicators, 2022–30

    Population (2024, million):                                      3.0                           Per-capita GDP (2024, USD):                                                        4471.8

    Quota (current, millions of SDR, percent of total):  54.6                          Poverty (2015, percent of national poverty line):                         17.4

    Main exports:                                                          Diamonds, Fish, Gold, Uranium, Copper.

    Key export markets:                                                South Africa, Botswana, China, Zambia, and Belgium.

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

    Est.

    Proj.
                       

    Percent change, unless otherwise specified

    Output

    		                  

    Real GDP growth

    5.4

    4.4

    3.7

    3.8

    3.7

    2.9

    3.0

    3.0

    3.0

    Nominal GDP growth

    12.2

    11.3

    7.1

    8.8

    9.3

    7.4

    7.6

    7.6

    7.6

    Nominal GDP (billions of USD)

    205.6

    228.9

    245.1

    266.8

    291.7

    313.4

    337.1

    362.5

    389.9

    Nominal GDP per capita (USD)

    4,407

    4,236

    4,472

    4,673

    4,898

    5,037

    5,192

    5,346

    5,513

    GDP Deflator

    6.4

    6.6

    3.3

    4.9

    5.5

    4.4

    4.4

    4.4

    4.4

    Prices

    Consumer prices (average)

    6.1

    5.9

    4.2

    4.1

    4.5

    4.5

    4.5

    4.5

    4.5

    Consumer prices (end of period)

    6.9

    5.3

    3.4

    4.5

    4.5

    4.5

    4.5

    4.5

    4.5

    Percent of GDP, unless otherwise specified

    Central Government Budget 1/

    Revenue and grants 2/

    30.5

    35.1

    36.5

    33.2

    32.8

    33.1

    33.3

    33.3

    33.3

      of which: SACU receipts

    6.7

    10.5

    11.2

    7.7

    7.9

    8.2

    8.5

    8.5

    8.4

    Expenditure

    36.1

    37.6

    40.4

    38.8

    37.7

    36.8

    36.6

    36.5

    36.5

      Of which: personnel expenditure

    14.9

    13.9

    14.1

    13.5

    12.8

    12.3

    12.2

    12.2

    12.2

      Of which: capital expenditure and net lending

    3.1

    2.9

    3.9

    4.0

    3.9

    3.5

    3.5

    3.5

    3.5

    Primary balance

    -1.2

    2.7

    1.2

    -0.5

    0.2

    1.4

    1.7

    1.7

    1.7

    Overall fiscal balance

    -5.7

    -2.4

    -3.9

    -5.7

    -4.8

    -3.7

    -3.3

    -3.3

    -3.3

    Overall fiscal balance ex. SACU

    -12.4

    -12.8

    -15.1

    -13.4

    -12.8

    -12.0

    -11.8

    -11.7

    -11.7

    Public debt, gross

    67.5

    66.0

    66.2

    62.3

    62.2

    62.0

    61.1

    60.1

    59.3

    Investment and Savings

    Investment

    20.1

    27.3

    25.6

    22.1

    19.0

    17.8

    16.8

    16.8

    16.8

      Public

    2.6

    2.4

    2.4

    2.6

    2.5

    2.3

    2.3

    2.3

    2.3

      Others (incl. SOEs)

    14.1

    23.7

    21.3

    19.5

    16.5

    15.5

    14.5

    14.5

    14.5

      Change inventories

    3.4

    1.2

    2.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    Savings

    7.3

    12.0

    10.3

    6.6

    5.4

    5.2

    4.6

    5.1

    5.5

      Public

    -3.2

    -0.2

    0.1

    -1.3

    -1.1

    -0.4

    0.1

    0.2

    0.2

      Others (incl. SOEs)

    10.6

    12.2

    10.2

    7.9

    6.5

    5.6

    4.5

    4.8

    5.3

    Percent change, unless otherwise specified

    Money and Credit

    Broad money

    0.0

    10.7

    9.7

    9.1

    8.6

    7.9

    8.4

    7.7

    7.6

    Credit to the private sector

    4.2

    2.8

    3.5

    4.9

    6.2

    4.1

    5.4

    5.5

    5.5

    BoN repo rate (percent) 3/

    6.75

    7.75

    7.00

    6.75

    …

    …

    …

    …

    …
     

                                                                                       Percent of GDP, unless otherwise specified

    Balance of Payments

    		                    

    Current account balance

    -12.6

    -15.3

    -15.3

    -15.5

    -13.7

    -12.6

    -12.1

    -11.7

    -11.3

    Financial account balance

    -13.3

    -15.9

    -17.2

    -9.3

    -15.4

    -13.6

    -12.3

    -11.8

    -11.8

    Gross official reserves

    22.3

    23.2

    25.1

    18.4

    20.1

    21.2

    21.5

    21.6

    22.2

    Reserves (in months of imports)

    3.9

    3.8

    4.4

    3.4

    3.8

    4.1

    4.2

    4.2

    4.5

    External debt

    71.7

    76.0

    74.6

    68.0

    67.5

    66.8

    65.5

    63.6

    61.8

    of which: public (incl. IMF) 4/

    17.5

    16.6

    14.7

    7.9

    7.3

    6.8

    6.4

    6.0

    5.5

    Exchange rate

    REER (percent, yoy)

    -3.6

    -6.3

    2.7

    …

    …

    …

    …

    …

    …

    Average exchange rate (Namibian dollar per USD)

    16.4

    18.5

    18.3

    …

    …

    …

    …

    …

    …

    Sources: Namibian authorities; and IMF staff calculations.

    1/ Figures are for the fiscal year as a percent of GDP. The fiscal year runs from April 1 to March 31.

    2/ Revenue excludes the line “transactions in assets and liabilities” classified as part of revenue in budget documents. It captures proceeds from asset sales, realized valuation gains from holdings of foreign currency deposits, and other items which are not classified as revenue according to the IMF’s Government Finance Statistics Manual 2010.

    3/ Figure for 2025 is as of April 16, 2025.

    4/ The ratio is calculated by dividing the stock as March 31 by nominal GDP for the fiscal year.
                                           

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

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

    [3] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Kwabena Akuamoah-Boateng

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

    https://www.imf.org/en/News/Articles/2025/06/13/pr-25198-namibia-imf-executive-board-concludes-2025-art-iv-consult

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Point Surpasses 15,000 Homeowners Funded, Tapping into More Than $1.5 Billion in Home Equity

    Source: GlobeNewswire (MIL-OSI)

    Palo Alto, California, June 17, 2025 (GLOBE NEWSWIRE) — Point, a leading home equity investment platform, proudly announces a significant milestone: funding its 15,000th homeowner. This achievement underscores Point’s commitment to providing innovative financial solutions, enabling homeowners across the U.S. to access over $1.5 billion in home equity.

    “Reaching 15,000 funded homeowners is more than just a number; it’s a testament to our mission of financial inclusivity,” said Eddie Lim, CEO and cofounder of Point. “We’ve seen firsthand how accessing home equity can transform lives, whether it’s eliminating or consolidating debt, funding education, or navigating financial hardships, without monthly payments. Our growth reflects homeowners’ trust in us to help them achieve their financial goals.”

    Since its inception, Point has revolutionized the way homeowners leverage their property’s value through its flagship product, the Home Equity Investment (HEI). Unlike traditional loans, the HEI offers homeowners a lump sum in exchange for a share in their home’s future appreciation, with no monthly payments and a 30-year term to settle the investment. This model has proven especially beneficial for those who might not qualify for conventional financing due to credit constraints or variable income streams.

    This milestone comes on the heels of Point’s most recent securitization, a $248 million rated transaction completed in partnership with funds managed by Blue Owl Capital. The deal was significantly oversubscribed, securing more than $2 billion in investor orders and marking Point’s fourth rated and largest securitization to date. The strong investor demand reflects the growing institutional appetite for Home Equity Investments and validates the performance and scalability of Point’s platform. These transactions not only provide capital to fund more homeowners but also demonstrate increasing confidence in HEIs as a maturing, mainstream asset class.

    About Point

    Point is the leading home equity platform making homeownership more valuable and accessible. Point’s flagship product, the Home Equity Investment (HEI), empowers homeowners to unlock their equity to eliminate debt, get through periods of financial hardship, and diversify their wealth – without adding to their monthly expenses. Point has worked with more than 15,000 homeowners, unlocking more than $1.5 billion in home equity. Point’s HEI enables investors to access a previously untapped asset class – owner-occupied residential real estate. Founded in 2015 by Eddie Lim, Eoin Matthews, and Alex Rampell, Point is backed by top investors, including Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Blue Owl Capital, Alpaca VC, and Prudential. The company is headquartered in Palo Alto, CA. For more information, please visit www.point.com

    The MIL Network –

  • MIL-OSI Africa: Equatorial Guinea’s Golden Swan Sets Regional Benchmark for Greener Oil and Gas Practices


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    The African Energy Chamber (AEC) (www.EnergyChamber.org) proudly supports the recent visit of Gabonese President Brice Oligui Nguema to Equatorial Guinea’s Golden Swan industrial complex, marking a defining moment for Africa’s oil and gas sector. As the continent intensifies efforts to industrialize responsibly, Golden Swan – and Equatorial Guinea, under the leadership of President Teodoro Obiang Nguema Mbasogo, whose commitment to sustainable development and environmental stewardship has been instrumental – is demonstrating that environmental protection and energy development can and must go hand in hand.

    During the visit, President Oligui Nguema and his delegation witnessed first-hand how Equatorial Guinea has achieved self-sufficiency in treating industrial and hazardous waste. Golden Swan’s advanced infrastructure includes industrial incinerators, a wastewater treatment plant, a medical waste processing unit and recycling systems for waste oil, plastics, batteries and metals. Presentations showcased the company’s household waste system, which reduces landfill use by up to 90% through sorting and recycling, and its production of critical industrial gases like medical oxygen and nitrogen.

    The Golden Swan model directly addresses one of the most pressing challenges facing Africa’s hydrocarbons sector: the management of hazardous and industrial waste generated by upstream and downstream operations. By achieving self-sufficiency in this area, Equatorial Guinea not only protects its ecosystems and communities, but also strengthens its position as a responsible, forward-looking energy producer. The AEC believes that facilities like Golden Swan can serve as blueprints for governments and companies aiming to build energy industries that are both profitable and sustainable.

    The visit also sets the stage for tangible collaboration between Gabon and Equatorial Guinea, beyond high-level dialogue. Opportunities now exist for technical cooperation, joint ventures and knowledge sharing that could see similar waste management infrastructure developed across the region. The Chamber encourages both governments to formalize this cooperation and take decisive steps to turn this vision into reality.

    “This is a defining example of how African oil and gas producers can lead on environmental issues rather than follow,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “Golden Swan shows what is possible when governments and industry come together with a clear purpose. It sets the bar higher, and it invites others on the continent to match or exceed that standard. This is good for our industry, good for our people, and good for Africa’s future.”

    Golden Swan’s success underscores a broader truth: Africa’s energy sector can drive industrialization while respecting the environment. As more nations follow this path, the continent will be better positioned to attract investment, create jobs and ensure long-term sustainability. The AEC welcomes this milestone and encourages all oil and gas stakeholders to build on Golden Swan’s example by innovating, collaborating and driving Africa’s growth while protecting its natural heritage.

    Distributed by APO Group on behalf of African Energy Chamber.

    MIL OSI Africa –

  • MIL-OSI China: Beijing unveils new policies to boost cultural industry

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

    Beijing’s Chaoyang district on Monday announced 17 policies aimed at promoting high-quality development of the cultural industry.

    These measures will offer targeted support for cultural enterprises, gaming and e-sports industries, and film production. 

    Over the years, Beijing has made great progress in building itself into a national cultural center.

    Jointly established by the Ministry of Culture and Tourism and the Beijing municipal government, the National Cultural Industry Innovation Experimental Zone in Beijing’s Chaoyang district has seen remarkable growth over the past decade. The number of companies in the zone has grown from 16,000 to over 50,000, including 1,517 large-scale cultural enterprises and 44 listed companies.  

    The zone has fostered key cultural enterprises, including Pop Mart, whose Labubu collectible figure has gained global popularity recently. It is also home to China’s largest e-sports complex and a center dedicated to AI-generated art.

    To further support growth, financial services have been developed specifically for cultural enterprises. So far, more than 33.97 billion yuan (US$4.73 billion) in credit financing has been provided to 3,072 companies in the zone.

    In addition, Chaoyang has transformed former industrial sites into cultural parks, developing 102 creative industry parks across the district.

    Looking ahead, the zone plans to upgrade its traditional sectors such as film and advertising, while accelerating the development of four major industry clusters, which are digital advertising, digital audiovisual content, gaming and e-sports, and digital performing arts.

    MIL OSI China News –

  • MIL-OSI Russia: The prospects for urban development were discussed at the A.A. Vysokovsky Forum at the National Research University Higher School of Economics

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    The annual A.A. Vysokovsky Forum, organized by the Faculty of Urban and Regional Development, was held at the National Research University Higher School of Economics. Should development projects be adjusted to the interests of residents, will New Moscow become a new point of attraction, and what will the opening of the A101 Group basic department give to HSE? All this was discussed by officials, business representatives, teachers and experts.

    © Higher School of Economics

    As the head of the Higher School of Urban Studies named after A.A. Vysokovsky, Ruslan Goncharov, noted at the beginning of the presentation of the basic department of the A101 Group, education in urban studies at the HSE can be obtained within the framework of a bachelor’s degree, a master’s degree, a postgraduate degree, and additional professional education. Since the establishment of the school in 2011, more than 600 graduates have completed the educational programs, more than 80% of whom work in their specialty.

    “Very often, many educational platforms discuss the gap in competencies, the discrepancy between graduates and the demands of the labor market, and HSE is doing everything it can to overcome this gap. The faculty organizes workshops and summer schools with industry partners for its students, invites expert practitioners to teach, launches partner courses and educational projects with leading industry organizations. The opening of the Basic Department of the A101 company will help HSE prepare highly qualified personnel in the field of development. This will allow, among other things, “to conduct classes on current issues of integrated urban development, regularly organize expert and public events with industry representatives, and conduct interdisciplinary research in the field of integrated urban development in general and New Moscow in particular. As part of practical classes in the faculty’s educational programs, specific cases from the A101 Group portfolio will be analyzed,” noted Ruslan Goncharov.

    Ruslan Goncharov expects successful synergy with the new partner of the HSE. One of the areas of work of the new department will be the development of the Urban School program for schoolchildren. As the scientific director of the basic department “A101” Maxim Gurvich noted: “Immersing children in the urban agenda from school is the most correct decision.”

    “We are building a city where there are all the opportunities for people to communicate, spend time together, play sports or hobbies, and unite by interests. This creates the very high-quality environment that leads to the growth of social ties. A high-quality environment is created not only by the developer, but also by the people themselves, without them there will be no city. And our task is to help them spend more time with their neighbors, attend cultural and educational events, play sports together – and all this close to their home. This is why we are actively working with district communities. Doing sociology, we found out that a district becomes a real home when you do not just walk from the metro to your apartment, but when you do something together with those who live next to you. And the potential of these connections is huge,” said Dmitry Tsvetov.

    Mikhail Blinkin, the academic director of the Faculty of Urban and Regional Development at the National Research University Higher School of Economics, who was present at the event, asked whether residents of New Moscow would have to sit in traffic jams to get to work in Moscow. According to Dmitry Tsvetov, 30% of residents already work where they live. But the company has ambitious plans here too. “We want there to be more jobs than residents,” Dmitry Tsvetov sets his goal. In particular, the construction of business centers in New Moscow will contribute to this.

    The topic of local community development was continued by Elena Bulin-Sokolova, Doctor of Pedagogical Sciences, Head of the Educational Bureau “A101 Lerniti”: “We build cities in which people want to live, including ourselves. A city is not only comfortable modern housing, it is also a social infrastructure – spaces and events in which you can get involved, finding something to your liking. And a city is also people,” Elena noted.

    “A101 Lernity” creates spaces for family centers and neighborhood clubs, open workshops and public lounges, street cinemas and sports grounds, initiating programs, projects and various events, involving residents themselves and local businesses in their organization, whether it is the revival of the culture of yard games or holding children’s maker summer programs; engineering hackathons for or career guidance internships for teenagers, pedagogical lectures or culinary parties, inter-district sports competitions or huge good-neighborly festivals for everyone – all this helps residents get to know the territory and each other, unites them around interesting things, contributes to the formation of communities.

    As Kirill Puzanov, associate professor at the Higher School of Urban Studies, noted: “A good city is a city that provides a minimum of necessary and a maximum of possible options for its use. Space should provide various options for use at different times and for different categories of citizens,” he is convinced.

    Historian and local historian Denis Romodin, in turn, said that tourism outside the city is currently developing at a rapid pace. In many cities in the Moscow region, new communities have emerged that actively conduct excursions for Muscovites, and they are conducted by young 20-year-olds. “And this is, in general, a very good idea, because it excites such local patriotism, explaining why my region is unique,” says Denis Romodin. At the same time, according to him, such processes are happening not only in historically interesting areas. Such communities interested in their city also exist in New Moscow – for example, in Troitsk.

    Dean of the Faculty of Urban and Regional Development at the National Research University Higher School of Economics Evgeny Mikhaylenko emphasized the importance of comprehensive improvement of urban infrastructure and creation of comfortable living conditions on the sidelines of the event. This contributes to both social and economic development of new districts, and also makes them more unique. “The rejection of uniform standards is the main task and guideline of modern urban policy aimed at diversity of the urban environment. This approach allows each district to acquire its own unique individuality, which makes it especially valuable and beloved by residents. Moreover, the uniqueness of new districts attracts the attention of not only local residents, but also neighboring territories, contributing to the formation of additional urban centers,” he explained.

    During the discussions within the forum, experts also spoke about what changes city residents can expect in terms of transport. Thus, according to Olga Morozova, Director of Strategic Projects of the Department of Transport and Development of Road Transport Infrastructure of the City of Moscow, the first driverless tram has already successfully started operating in Moscow. It has already covered more than 5 thousand km without a single traffic violation. Last year, the next stage of this test began – the launch of an unmanned tram with passengers under the control of a test driver. Already in the fall of 2025, it is planned to launch a completely unmanned tram for regular trips along the route with passengers.

    Continuing the discussion about the transport of the future, Evgeny Mikhailenko shared a forecast for the emergence of new types of real estate and infrastructure related to modern means of mobility, for example, transport hubs for drones, which will contribute to the multifunctionality of urban spaces and the development of a “smart city” that adapts to the demands of the time.

    Another significant event of the Forum was the awarding of Professor of the Faculty of Urban and Regional Development of the National Research University Higher School of Economics Sergey Sivaev with the departmental award of the Ministry of Construction and Housing and Public Utilities of the Russian Federation, the medal “For Impeccable Labor and Diligence” of the 3rd degree.

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

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Awards – Canterbury’s top young chefs crowned in new competition at Ara

    Source: Ara Institute of Canterbury

    New culinary talent has been on show in Ōtautahi, with 36 young chefs vying for top honours in the inaugural Waitaha Canterbury Young Chef Championships at Ara Institute of Canterbury.
    The Waitaha Canterbury Young Chef of the Year went to Clover Lippe, a promising young chef from Te Pae | Christchurch Convention Centre. Young Pastry Chef of the Year went to Ellouise Day who is completing her Diploma in Cookery (Advanced Patisserie) at Ara while working as Senior Chef de Partie and Pastry Chef at OGB restaurant.
    Both won a standout prize pack, and a coveted spot alongside their employers on a high-profile city billboard.
    Lippe had trained hard to refine her two-course menu of Lumina lamb loin, fondant potato, celeriac puree and charred brussels sprouts with pickled carrot followed by a Barker’s blackcurrant semifreddo with white chocolate vanilla cremeaux, vanilla sable and crumb and blackcurrant coulis.
    Executive chef at Te Pae, Des Davis, who attended the prizegiving, said her efforts had paid off.
    “We’re thrilled for Clover but also so pleased to see a competition like this available for young chefs,” he said. “It offers a different kind of challenge from service and is an excellent way to extend their skills. A competition like this has been missing and we’re glad to see it.”
    The industry-supported event held in Ara’s commercial training kitchens on Monday 16 June featured three categories:
    • Young Chef of the Year, sponsored by Catering Hardware
    • Young Pastry Chef of the Year, sponsored by Silikomart
    • Trainee Chef of the Year, sponsored by Akaroa Salmon
    Competitors came from leading kitchens including Kokomo, The George, OGB, Earl Bistro, Sudima Airport Hotel, The Montreal Bar and Restaurant, Atawhai Café and Curators House. Each worked with premium sponsored ingredients while showcasing their individual style.
    Head judge, Alliance Meat brand ambassador Darren Wright, said the competition tested not only the flavour and presentation of each dish, but also the chefs’ kitchen practices and professionalism.
    Young Pastry Chef winner Ellouise Day said she was delighted to take the win. Her layered walnut and maple syrup layered dessert with spiced apple compote, chocolate and walnut crumb, apple cider gel and chocolate ganache impressed the judges for its flavour and finesse.
    In the Trainee Chef division, an impressive 20 emerging young chefs competed in two heats. Participants were from high schools including Kaiapoi, Riccarton, Haeata, Hurunui, Shirley Boys’, Papanui and Lincoln. Many are dual enrolled at Ara or studying with ServiceIQ.
    The trainees were tasked with creating a pan-seared Akaroa salmon fillet and a warm salad of prawns, potato, chorizo and spinach, complemented by smoked paprika mayonnaise, lemon dressing and herb garnish.
    Gabriel Flower, from Sudima Airport Hotel took out the category’s top prize. His executive chef, Ara alumnus Dean Ding, said the new competition will play a crucial role in nurturing new culinary talent. “It’s time for new growth in our industry, and this competition will encourage young chefs to find their own passion for cooking. That’s what it’s all about.”
    Ara Department of Hospitality and Service Industries tutor Mark Sycamore said the event was set to become a firm fixture on Christchurch’s culinary calendar.
    “The fact they’ve signed up shows these young chefs are serious about their futures and willing to put themselves on the line. As a chef, they’re the people you want on your team,” he said.
    He praised the support from sponsors, which included a chocolate masterclass from Nel Vicencio at Mind Your Temper, an Alliance-sponsored “meet the farmer” experience, and premium product offerings.
    “Everyone has gone home with world-class equipment from Silikomart and a haul of other goodies. The backing has been phenomenal.”
    While these young chefs are still savouring their taste of success, Ara is already looking ahead to welcoming new contenders keen to etch their own names on a culinary championship trophy next year.

    MIL OSI New Zealand News –

  • MIL-OSI Banking: Samsung Strengthens Premium Retail Footprint in Pune with New Viman Nagar Experience Store

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, inaugurated another experience store in Viman Nagar in Pune, further reinforcing its commitment to enhancing premium retail presence across cities. Spanning 1050 sq. ft., the new store offers a one-stop destination for customers to explore Samsung’s cutting-edge innovations and seamless connected ecosystem under one roof.
     
    The store features dedicated zones showcasing the latest smartphones, tablets, laptops, smartwatches, smart rings, and the innovative SmartThings ecosystem that supports connected living. Through interactive displays and hands-on experiential areas, visitors can discover how seamlessly these devices integrate across productivity, entertainment, wellness and smart home automation.
     
    Located in one of Pune’s most affluent and high-footfall neighbourhoods, the new Samsung experience store offers customers an opportunity to explore and engage with the brand’s latest innovations across categories. As cities emerge as growth drivers, this store is poised to serve as a vital retail touchpoint, enabling deeper consumer engagement and strengthening Samsung’s presence in these high-potential markets.
     
    “At Samsung, our aim is to create inspiring retail experiences that bring innovation closer to our customers. The inauguration of our premium experience store in Viman Nagar, Pune, marks another significant step in strengthening our premium presence. This new store embodies our broader vision of growing our premium retail presence and offering a holistic, all-in-one destination that brings together cutting-edge innovation, meaningful customer engagement, and outstanding service, all under one roof,” said Sumit Walia, Vice President, Head of D2C Business & Corporate Marketing at Samsung India.
     
    Reinforcing its commitment to customer satisfaction and digital empowerment, the new store will host Samsung’s flagship ‘Learn @ Samsung’ initiative, which has seen success in other locations across India. This programme offers a variety of workshops designed to equip consumers—especially millennials and Gen Z—with the skills and knowledge to make the most of advanced tech. These interactive sessions that provide hands-on experiences with Galaxy devices, cover topics such as AI-powered photography, productivity, creativity and digital doodling, enhancing both user engagement and tech proficiency.
     
    To celebrate the launch, customers visiting the store can avail:
     

    Over 30 free subscriptions across leading OTT, music, wellness, and infotainment platforms.
    Exclusive discounts on over 40 brand gift cards and over 25 top deals from premium brands.
    Buy-1-Get-1-Free buffet deals across over 100 premium restaurants across India.
    Paytm First membership rewards, special travel savings on flights, and discounts at over 14,000 restaurants nationwide.

     
    The store also introduces Samsung Store+, a user-friendly digital platform that enables in-store visitors to explore detailed product information and conveniently choose home delivery, creating a smooth and integrated online-offline shopping experience. In addition, a dedicated service centre within the store ensures enhanced post-purchase support for customers.

    MIL OSI Global Banks –

  • MIL-OSI Europe: Kazakhstan’s Participation in OCTOPUS 2025 Strengthens OSCE-Supported International Efforts to Combat Cybercrime

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Kazakhstan’s Participation in OCTOPUS 2025 Strengthens OSCE-Supported International Efforts to Combat Cybercrime

    The delegation of Kazakhstan at the OCTOPUS 2025 held from June 4 to 6, 2025 in Strasbourg (OSCE) Photo details

    From June 4 to 6 2025, a delegation from Kazakhstan participated in the international conference “OCTOPUS 2025 – Conference on Countering Cybercrime”, hosted by the Council of Europe in Strasbourg, France. The participation of the delegation was facilitated by the OSCE Programme Office in Astana within the framework of the extra-budgetary project “Supporting the Republic of Kazakhstan in the Development of Effective Policies to Counter Cybercrimes (Phase I)”, implemented by the Office in co-operation with the Ministry of Interior of Kazakhstan, and under the co-ordination of the Presidential Administration of Kazakhstan.
    The conference convened cybercrime and law enforcement experts from over 100 countries, serving as a premier global forum for addressing evolving cyber threats, fostering international collaboration, and sharing innovative approaches and policy practices.  The delegation from Kazakhstan comprised representatives of the Ministry of Foreign Affairs, the Financial Monitoring Agency, and the Prosecutor General’s Office, as well as OSCE project staff, who actively contributed to plenary discussions, thematic workshops, and bilateral consultations.
    Kazakhstan’s participation advanced the objectives of the OSCE-supported project by enabling national stakeholders to tap into global expertise, establish institutional partnerships, and explore innovative strategies for combating cybercrime. The knowledge and experience gained at the conference will contribute to the formulation of effective national policies and enhance the capacity of Kazakhstan’s law enforcement authorities to respond to complex cyber threats – particularly in areas such as cryptocurrency-related crime, AI-driven cybercriminal activities, and international legal co-operation on electronic evidence.
    Key topics of the conference included the malicious use of artificial intelligence, cyber threats to democratic institutions, and emerging financial fraud schemes such as “pig-butchering” scams. Participants also examined the role of the Second Additional Protocol to the Convention on Cybercrime in facilitating cross-border investigations and improving the admissibility of electronic evidence.
    Kazakhstan’s active engagement in OCTOPUS 2025 underscores its growing commitment to contributing to global efforts against cybercrime. It also reflects the tangible progress of the OSCE-supported project in promoting international collaboration, strengthening national capacities, and reinforcing Kazakhstan’s integration into the global cybercrime response community.

    MIL OSI Europe News –

  • MIL-OSI Russia: Polytechnic University Leads in Number of Medals at the “I Am a Professional” Olympiad

    Translation. Region: Russian Federal

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

    The results of the VIII season of the All-Russian student Olympiad “I am a professional” of the presidential platform have been summed up “Russia is a country of opportunity”. St. Petersburg entered the top 3 regions in terms of the number of diploma winners. Students of Peter the Great St. Petersburg Polytechnic University won 9 medals: 4 gold, 2 silver and 3 bronze. All-Russian Student Olympiad “I am a professional” is being implemented within the framework of the federal project “Russia – the Country of Opportunities” of the national project “Youth and Children” with the support of the Ministry of Science and Higher Education of Russia.

    In the 8th season, the Olympiad “I am a professional” united 185,610 students from 89 regions of Russia, who competed in 71 areas. Polytechnic organized two of them: “Mechanical engineering” and “Hotel business”.

    High results of participation in the Olympiad “I am a professional” – an indicator that competitive personnel are trained in the universities of St. Petersburg. Year after year, students demonstrate an increasingly high level of training. In the VIII season, participants received 708 diplomas of the Olympiad “I am a professional”, and the best results were demonstrated by students of St. Petersburg State University, National Research University ITMO and Peter the Great St. Petersburg Polytechnic University, – noted the head of the Olympiad “I am a professional” Valeria Kasamara.

    Olympiad diploma winners will be able to complete internships at major companies and take advantage of benefits when entering the next level of education, and medalists will receive cash prizes of up to 300 thousand rubles.

    A distinctive feature of the Olympiad is the fact that students can participate in any direction, regardless of their educational profile. This allows them to take a different look at their career track, deepen their knowledge, and gain new experience. This meets the demand from the industry for well-trained multidisciplinary specialists ready to solve the most complex problems. We involved colleagues from the industry in compiling practice-oriented tasks. We are confident that this allowed the participants to get to know their future profession better, – noted Vitaly Drobchik, Advisor to the Rector’s Office of SPbPU and organizer of the Olympiad at the Polytechnic University.

    It should be noted that Polytechnic students won medals in such areas as mechanical engineering, hotel business, robotics, oil and gas, thermal power engineering and heat engineering, electric power engineering, and construction.

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

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Advocacy – 95 New Zealand Lawyers Call for Stronger Govt Stance on Israel Amidst Rising Tensions in Middle East

    Source: Max Harris
    Ninety-five New Zealand lawyers – including 9 King’s Counsel – have signed a letter to the Prime Minister and other ministers urging the Government to consider a stronger stance against Israel’s actions in Gaza.
    The letter has been sent amidst rising tensions in the region, following Israel’s surprise attacks on Iran, and Iran’s attacks on Israel in response.
    The letter’s signatories come from all levels of seniority in the legal community including senior barristers, law firm partners, legal academics, and in-house lawyers.
    The letter cites UN sources that document the steadily deteriorating plight of civilians in Gaza, featuring escalating levels of bombardment, forced displacement, blockades of aid and deliberate targeting of hospitals, aid workers and journalists, and notes key responses to date.
     
    In September last year New Zealand voted in favour of a UN General Assembly resolution calling upon all UN Member States to comply with their obligations under international law and take concrete steps to address Israel’s ongoing presence in the Occupied Palestinian Territory. At the time, New Zealand noted it expected Israel to take meaningful steps towards compliance with international law including withdrawal from the Occupied Palestinian Territory. The letter comments that Israel has done nothing of the sort.
     
    The letter goes on to point out that in May this year Independent UN Experts demanded immediate international intervention to “end the violence or bear witness to the annihilation of the Palestinian population in Gaza.” UN experts have observed the occurrence of over 52,535 deaths, of which 70 percent continue to be women and children. The Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, Tom Fletcher has called for a response “as humanitarians” urging “Humanity, the law and reason must prevail”.
    The letter urges the Government to consider a stronger response including to condemn Israel’s unlawful presence in the Occupied Palestinian Territory, to review immediately all diplomatic and political and economic ties with Israel, and to go further in imposing sanctions after New Zealand imposed sanctions on two extremist Israeli politicians.
    One of the letter’s signatories, barrister Max Harris, says: “This letter reflects rising concern among the general community about Israel’s breaches of international law.”
    “The Government has tried to highlight red lines for Israel, but these have been repeatedly crossed, and it’s time that the Government considers doing more, in line with international law,” adds Harris.
    Aedeen Boadita-Cormican, another barrister who has signed the letter, says: “The Government could do more to follow through on how it has voted at the United Nations and what it has said internationally.”
    “This letter shows the depth of concern in the legal community about Israel’s actions,” adds Boadita-Cormican.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Unemployment and underemployment statistics for March – May 2025

    Source: Hong Kong Government special administrative region

         According to the latest labour force statistics (i.e. provisional figures for March – May 2025) released today (June 17) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate increased from 3.4% in February – April 2025 to 3.5% in March – May 2025. The underemployment rate also increased from 1.3% in February – April 2025 to 1.4% in March – May 2025.
     
         Comparing March – May 2025 with February – April 2025, the unemployment rate (not seasonally adjusted) increased across most major economic sectors, with more distinct increases observed in the construction sector, retail sector and real estate sector.  As to the underemployment rate, increases were mainly seen in the construction sector and transportation sector.
     
         Total employment decreased by around 12 400 from 3 677 100 in February – April 2025 to 3 664 700 in March – May 2025.  Over the same period, the labour force also decreased by around 6 000 from 3 806 500 to 3 800 500.
     
         The number of unemployed persons (not seasonally adjusted) increased by around 6 400 from 129 400 in February – April 2025 to 135 800 in March – May 2025. Over the same period, the number of underemployed persons also increased by around 6 000 from 47 600 to 53 600.
      
    Commentary
     
         Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Chris Sun, said, “Compared with the preceding three-month period, the seasonally adjusted unemployment rate posted a modest uptick of 0.1 percentage point to 3.5% in March – May 2025. The underemployment rate also edged up by 0.1 percentage point to 1.4%. The labour force and total employment decreased further to 3 800 500 and 3 664 700 respectively.”
     
         Looking ahead, Mr Chris Sun said, “The pace of job creation will continue to be affected by the evolvement of different industries amidst the continuing uncertain external environment and the changing consumption patterns of locals and visitors.  Besides, the entry of fresh graduates and school leavers in the coming few months may further impact the overall employment situation. That said, we are delighted to see the steady expansion of the Hong Kong economy with real Gross Domestic Product in 2025 forecast to grow by 2% to 3%, and the injection of new impetus to the market by local and non-local operators as reflected by the numbers of registered local and foreign companies having reached new heights in recent months. These positive developments should render support to the labour market and sustain the momentum of Hong Kong’s economic development.”
     
    Further information
     
         The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
     
         In the survey, the definitions used in measuring unemployment and underemployment follow closely those recommended by the International Labour Organization. The employed population covers all employers, self-employed persons, employees (including full-time, part-time, casual workers, etc.) and unpaid family workers. Unemployed persons by industry (or occupation) are classified according to their previous industry (or occupation).
     
         The survey for March – May 2025 covered a sample of some 26 000 households or 68 000 persons, selected in accordance with a scientifically designed sampling scheme to represent the population of Hong Kong. Labour force statistics compiled from this sample represented the situation in the moving three-month period of March to May 2025.
     
         Data on labour force characteristics were obtained from the survey by interviewing each member aged 15 or over in the sampled households.
     
         Statistical tables on the latest labour force statistics can be downloaded at the website of the C&SD (www.censtatd.gov.hk/en/scode200.html). More detailed analysis of the labour force characteristics is given in the “Quarterly Report on General Household Survey” which is published four times a year. The latest issue of the report contains statistics for the quarter January – March 2025 while the next issue covering the quarter April – June 2025 will be available by end August 2025. Users can also browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1050001&scode=200).
     
         For enquiries about labour force statistics, please contact the General Household Survey Section (3) of the C&SD (Tel: 2887 5508 or email: ghs@censtatd.gov.hk).

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: Young readers are invited to new meetings at Literary Boulevard

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Sretensky Boulevard has become one of the most inspiring points on the map of the capital this summer. As part of the project “Summer in Moscow” here is the “Literary Boulevard” – a venue where meetings are held dedicated to great writers, interesting books and the secrets of literary craftsmanship. They are held by librarians, literary scholars, writers and editors. In a warm atmosphere, they talk with young guests about the love of reading and the power of imagination.

    Classes are held in the format of dialogues, quizzes, master classes and theatrical readings. The program is designed primarily for children, but will also be interesting for parents. Here they talk about famous authors and the stories behind their books, reveal little-known literary facts, organize games and invite guests to participate in the creation of characters.

    The meetings take place on a specially equipped podium and last about an hour – from about 19:00 to 20:00. Admission is free, without prior registration.

    Upcoming Events

    On June 19, guests will meet with Vadim Meshcheryakov, the founder of the Meshcheryakov Publishing House, which has been publishing children’s and adolescent literature for over 20 years. He will tell how readers’ tastes have changed over this time, which books become favorites, and which remain unnoticed. You will also be able to find out how the publishing house is adapting to digitalization and what is especially important today in the design and content of children’s books.

    On June 20, children will attend a lesson dedicated to the life and work of Vera Chaplina, a writer and animal rights activist. Participants will see fragments of a 1936 documentary, read the story “Kinuli” and learn how an orphanage in Tashkent became the beginning of Chaplina’s long journey in literature. The lesson will end with a quiz “Four Legs and a Tail”, where you can demonstrate your knowledge of animals and share stories about your pets.

    On June 25, there will be a master class “Puppet Theater” based on the book series by Anya Dobrochas “Vovka with a Tail”. Participants will create their own puppet show, choose the characters and plot, become scriptwriters and actors. The evening will end with a drawing of books autographed by the writer.

    On June 27, a meeting dedicated to Nikolay Nosov will be held. The organizers will tell about the author’s biography, his work in cinema and animation, and will also read the story “Cucumbers”, based on a true story. Young guests will recall cartoons based on the writer’s works and will create bookmarks with characters from his books at a master class.

    Events in July

    On July 4, a meeting dedicated to Korney Chukovsky will take place. There, children will be told that “Moidodyr” was composed impromptu for his daughter Murochka. The children will also recall poems, take part in literary games and create a memorable souvenir. Participants will be asked to choose an image of their favorite hero, cut it out and attach it to a magnet.

    On July 11, at a meeting about Vitaly Bianki, participants will discuss the “Forest Newspaper” and stories about nature. They will guess birds from photographs and determine whether the hero of a particular story flies, as well as read the stories “Little Mouse Peak” and “How the Ant Hurried Home.”

    Both meetings will take place from 19:00 to 20:00 on the podium.

    “Literary Boulevard” is not only meetings, but also a special urban space. Here, the “Alley of Great Writers” was created with thematic installations inspired by Russian classical and modern literature. Lectures, discussions, club meetings with the participation of authors and literary scholars, presentations of new books and literary performances are held in open areas. The program also includes a speed reading tournament, in which young readers can try their hand.

    Project “Summer in Moscow”— the main event of the season. It unites the most vibrant events of the capital. Every day in all districts of the city there are charity, cultural and sports programs, most of which are free. The Summer in Moscow project is being held for the second time, and the new season will be more eventful: new, original and colorful festivals and events will be added to the traditional ones.

    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/155333073/

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