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Category: India

  • PM to visit Bihar and West Bengal; inaugurate key infrastructure projects

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi will visit Bihar and West Bengal on Friday to launch a series of development projects worth over ₹12,000 crore, aimed at strengthening infrastructure, connectivity, and socio-economic growth in the two states.

    PM in Bihar

    Prime Minister will lay the foundation stone, inaugurate and dedicate to the nation development projects catering to Rail, Road, Rural Development, Fisheries, Electronics and Information Technology sectors.

    In line with his commitment to boost connectivity and infrastructure, Prime Minister will dedicate to the nation multiple rail projects. It includes automatic signalling between Samastipur-Bachhwara rail line that will enable efficient train operations in this section. Doubling of Darbhanga-Thalwara and Samastipur-Rambhadrapur rail line part of Darbhanga-Samastipur doubling project worth over Rs 580 crore that will enhance the capacity of train operations and reduce delays.

    The Prime Minister will also lay the foundation stone for multiple rail projects. These include the development of infrastructure for the maintenance of Vande Bharat trains at Patliputra, and the installation of automatic signalling on the 114 km Bhatni–Chhapra Gramin rail line to enable streamlined train operations. The upgradation of the traction system in the Bhatni–Chhapra Gramin section will allow higher train speeds by strengthening traction infrastructure and optimising energy efficiency. Additionally, the Darbhanga–Narkatiaganj rail line doubling project, worth around ₹4,080 crore, will increase sectional capacity, enable the operation of more passenger and freight trains, and strengthen connectivity between North Bihar and the rest of the country.

    Furthering road connectivity in the region, Prime Minister Modi will lay the foundation stone for the four-laning of the Ara bypass of NH-319 and inaugurate the Parariya to Mohania section of NH-319. This corridor, which connects Ara Town to the Golden Quadrilateral, is expected to enhance both passenger and freight transport. He will also inaugurate a two-lane paved shoulder road from Sarwan to Chakai under NH-333C, which serves as a vital link between Bihar and Jharkhand.

    In the digital infrastructure sector, the Prime Minister will inaugurate a new Software Technology Parks of India (STPI) facility in Darbhanga and a state-of-the-art incubation centre in Patna. These facilities are designed to support the growth of the IT and startup ecosystem in Bihar, promoting software exports and fostering innovation and entrepreneurship.

    Under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), several fisheries development projects will also be inaugurated. These projects include the setting up of hatcheries, biofloc units, ornamental fish farming units, and integrated aquaculture infrastructure. The new projects are expected to generate employment and uplift the rural economy through increased fish production and entrepreneurship.

    In line with the vision for a modern and accessible railway network, the Prime Minister will flag off four new Amrit Bharat trains connecting key cities such as Patna, Motihari, Darbhanga, and Malda Town with major destinations like New Delhi and Lucknow, enhancing regional and interstate rail connectivity.

    Further, the Prime Minister will release ₹400 crore to approximately 61,500 Self-Help Groups (SHGs) in Bihar under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM). He will also hand over keys to beneficiaries under the Pradhan Mantri Awaas Yojana-Gramin as part of a Griha Pravesh event for 12,000 families, and release over ₹160 crore to 40,000 beneficiaries of the scheme.

    PM in West Bengal

    Later in the day, around 3 PM, the Prime Minister will visit Durgapur in West Bengal, where he will launch and dedicate several development projects in Oil and Gas, Power, Road, and Rail sectors, cumulatively worth over ₹5,000 crore.

    In a major push to energy infrastructure, he will lay the foundation stone for the Bharat Petroleum Corporation Limited (BPCL) City Gas Distribution project in Bankura and Purulia districts. The ₹1,950 crore project aims to provide piped natural gas to households and CNG for vehicles, boosting employment and supporting clean energy usage.

    He will also dedicate the 132-km Durgapur to Kolkata section of the Durgapur-Haldia Natural Gas Pipeline to the nation. This segment, worth over ₹1,190 crore, is part of the Pradhan Mantri Urja Ganga project and will facilitate the supply of natural gas across multiple districts including Purba Bardhaman, Hooghly, and Nadia.

    In keeping with the focus on clean energy, the Prime Minister will inaugurate Flue Gas Desulphurization (FGD) systems at Durgapur Steel Thermal Power Station and Raghunathpur Thermal Power Station under the Damodar Valley Corporation. These pollution control systems, worth over ₹1,457 crore, are expected to improve air quality and support sustainable power generation in the region.

    Rail infrastructure in West Bengal will also see enhancement with the inauguration of the doubling of the Purulia-Kotshila rail line, a 36-km stretch worth over ₹390 crore. The project will boost industrial connectivity from Jamshedpur, Bokaro, and Dhanbad to Ranchi and Kolkata, improving logistics and reducing transit time.

    The Prime Minister will also inaugurate two road overbridges at Topsi and Pandabeshwar in Paschim Bardhaman, constructed under the Setu Bharatam programme at a cost of over ₹380 crore. These bridges are expected to ease traffic flow and reduce accidents at railway level crossings.

  • Cricket to return at LA28 Olympics after 128 years, T20 format confirmed

    Source: Government of India

    Source: Government of India (4)

    Cricket will return to the Olympic stage after more than a century, with the sport set to feature in the Los Angeles 2028 Games in the fast-paced Twenty20 (T20) format.

    The men’s and women’s competitions will each feature six teams, with matches scheduled to begin on July 12 at Fairgrounds Stadium in Pomona, a temporary venue located roughly 50km east of downtown Los Angeles. The women’s medal match is slated for July 20, while the men’s final will be held on July 29.

    A total of 180 players will participate across the two events, with each team allowed to name a 15-member squad. Most match days will feature double-headers, starting at 9:00 a.m. and 6:30 p.m. local time. No games are scheduled on July 14 and 21.

    Cricket last featured in the Olympics at the 1900 Paris Games, when Great Britain defeated France in the only match played. Its return comes alongside four other sports — baseball/softball, flag football, lacrosse, and squash — approved by the International Olympic Committee for LA28.

    “This is a Games for all, and cricket’s inclusion reflects that spirit,” Los Angeles Mayor Karen Bass said in a statement. She also cited the success of the city’s PlayLA youth sports initiative, which recently surpassed one million enrollments.

    The Fairgrounds Stadium, located at the Fairplex complex in Pomona, spans nearly 500 acres and regularly hosts large-scale events including the LA County Fair. It will serve as the sole venue for the cricket tournament.

    Cricket’s addition follows growing interest in the sport in the United States, particularly after the country co-hosted the ICC Men’s T20 World Cup 2024 with the West Indies. Matches were held in Grand Prairie, Lauderhill, and New York.

    Women’s cricket has seen increased visibility in recent years, debuting at the Commonwealth Games in 2022 and featuring in three Asian Games editions (2010, 2014, 2023) alongside the men’s tournament.

    The International Cricket Council (ICC), in coordination with national boards, is now working on creating a fair and transparent qualification pathway to ensure that top-performing teams get a chance to compete at LA28.

    (With agency input)

  • US Senate passes aid, public broadcasting cuts in victory for Trump

    Source: Government of India

    Source: Government of India (4)

    The U.S. Senate early on Thursday approved President Donald Trump’s plan for billions of dollars in cuts to funding for foreign aid and public broadcasting, handing the Republican president another victory as he exerts control over Congress with little opposition.

    The Senate voted 51 to 48 in favor of Trump’s request to cut $9 billion in spending already approved by Congress.

    Most of the cuts are to programs to assist foreign countries suffering from disease, war and natural disasters, but the plan also eliminates all $1.1 billion the Corporation for Public Broadcasting was due to receive over the next two years.

    Trump and many of his fellow Republicans argue that spending on public broadcasting is an unnecessary expense and reject its news coverage as suffering from anti-right bias.

    Standalone rescissions packages have not passed in decades, with lawmakers reluctant to cede their constitutionally mandated control of spending. But Trump’s Republicans, who hold narrow majorities in the Senate and House, have shown little appetite for resisting his policies since he began his second term in January.

    The $9 billion at stake is extremely small in the context of the $6.8 trillion federal budget, and represents only a tiny portion of all the funds approved by Congress that the Trump administration has held up while it has pursued sweeping cuts, many ordered by billionaire Elon Musk’s Department of Government Efficiency, or DOGE.

    As of mid-June, Trump was blocking $425 billion in funding that had already been appropriated and previously approved by Congress, according to Democratic lawmakers tracking frozen funding.

    However, Trump and his supporters have promised more of the “rescission” requests to eliminate previously approved spending in what they say is an effort to pare back the federal government.

    The House of Representatives passed the rescissions legislation without altering Trump’s request by 214-212 last month. Four Republicans joined 208 Democrats in voting no.

    But after a handful of Republican senators balked at the extent of the cuts to global health programs, Russell Vought, director of the Office of Management and Budget, said on Tuesday that PEPFAR, a global program to fight HIV/AIDS launched in 2003 by then-President George W. Bush, was being exempted.

    The change brought the size of the package of cuts to $9 billion from $9.4 billion, requiring another House vote before the measure can be sent to the White House for Trump to sign into law.

    The rescissions must pass by Friday. Otherwise, the request would expire and the White House will be required to adhere to spending plans passed by Congress.

    REPUBLICAN ‘NO’ VOTES

    Two of the Senate’s 53 Republicans – Lisa Murkowski of Alaska and Susan Collins of Maine – joined Democrats in voting against the legislation.

    “You don’t need to gut the entire Corporation for Public Broadcasting,” Murkowski said in a Senate speech.

    She said the Trump administration also had not provided assurances that battles against diseases such as malaria and polio worldwide would be maintained. Most of all, Murkowski said, Congress must assert its role in deciding how federal funds were spent.

    Republican Senate Majority Leader John Thune of South Dakota called Trump’s request a “small, but important step toward fiscal sanity.”

    Democrats scoffed at that, noting that congressional Republicans earlier this month passed a massive package of tax and spending cuts that nonpartisan analysts estimated would add more than $3 trillion to the nation’s $36.2 trillion debt.

    Democrats charged Republicans with giving up Congress’ Constitutionally-mandated control of federal spending.

    “Today, Senate Republicans turn this chamber into a subservient rubber stamp for the executive, at the behest of Donald Trump,” Senate Democratic Leader Chuck Schumer of New York said.

    “Republicans embrace the credo of cut, cut, cut now, and ask questions later,” Schumer said.

    The cuts would overturn bipartisan spending agreements most recently passed in a full-year stopgap funding bill in March. Democrats warn a partisan cut now could make it more difficult to negotiate government funding bills that must pass with bipartisan agreement by September 30 to avoid a shutdown.

    Appropriations bills require 60 votes to move ahead in the Senate, but the rescissions package needs just 51, meaning Republicans can pass it without Democratic support.

    -REUTERS

  • Three-person IVF technique spared children from inherited diseases, scientists say

    Source: Government of India

    Source: Government of India (4)

    Eight children in the UK have been spared from devastating genetic diseases thanks to a new three–person in vitro fertilization technique, scientists from Newcastle University reported on Wednesday.

    The technique, which is banned in the United States, transfers pieces from inside the mother’s fertilized egg – its nucleus, plus the nucleus of the father’s sperm – into a healthy egg provided by an anonymous donor.

    The procedure prevents the transfer of mutated genes from inside the mother’s mitochondria – the cells’ energy factories – that could cause incurable and potentially fatal disorders.

    Mutations in mitochondrial DNA can affect multiple organs, particularly those that require high energy, such as the brain, liver, heart, muscles and kidneys.

    One of the eight children is now 2 years old, two are between ages 1 and 2, and five are infants. All were healthy at birth, with blood tests showing no or low levels of mitochondrial gene mutations, the scientists reported in the New England Journal of Medicine. All have made normal developmental progress, they said.

    The results “are the culmination of decades of work,” not just on the scientific/technical challenges but also in ethical inquiry, public and patient engagement, law-making, drafting and execution of regulations, and establishing a system for monitoring and caring for the mothers and infants, reproductive medicine specialist Dr. Andy Greenfield of the University of Oxford, who was not involved in the research, said in a statement.

    The researchers’ “treasure trove of data” is likely to be the starting point of new avenues of investigation, Greenfield said.

    Often during IVF screening procedures, doctors can identify some low-risk eggs with very few mitochondrial gene mutations that are suitable for implantation.

    But sometimes all of the eggs’ mitochondrial DNA carries mutations. In those cases, using the new technique, the UK doctors first fertilize the mother’s egg with the father’s sperm. Then they remove the fertilized egg’s “pronuclei” – that is, the nuclei of the egg and the sperm, which carry the DNA instructions from both parents for the baby’s development, survival and reproduction.

    Next, they transfer the egg and sperm nuclei into a donated fertilized egg that has had its pronuclei removed.

    The donor egg will now begin to divide and develop with its healthy mitochondria and the nuclear DNA from the mother’s egg and the father’s sperm.

    This process, detailed in a second paper in the journal, “essentially replaces the faulty mitochondrial DNA (mtDNA) with healthy mtDNA from the donor,” senior researcher Mary Herbert, professor of reproductive biology at Newcastle, said at a press briefing.

    Blood levels of mtDNA mutations were 95% to 100% lower in six newborns, and 77% to 88% lower in two others, compared to levels of the same variants in their mothers, the researchers reported in a second paper.

    “These data indicate that pronuclear transfer was effective in reducing transmission of mtDNA disease,” they said.

    The procedure was tested in 22 women whose babies were likely to inherit such genes. In addition to the eight women who delivered the children described in this report, another one of the 22 is currently pregnant.

    Seven of the eight pregnancies were uneventful; in one case, a pregnant woman had blood tests showing high lipid levels.

    There have been no miscarriages.

    The authors of the current reports have also tried transplanting the nucleus of a mother’s unfertilized egg into a donor egg and then fertilizing the donor egg afterward, but they believe their new approach may more reliably prevent transmission of the genetic disorders.

    In 2015, the UK became the first country in the world to legalize research into mitochondrial donation treatment in humans.

    That same year in the United States, pronuclear transfer was effectively banned for human use by a congressional appropriations bill that prohibited the Food and Drug Administration from using funds to consider the use of “heritable genetic modification”.

    (Reuters)

  • Stokes’ long bowling spells vs India a great sign for England, says Root

    Source: Government of India

    Source: Government of India (4)

    Ben Stokes’ lengthy bowling spells against India in the third test shows the England all-rounder has full confidence in his body after coming through injury layoffs, batter Joe Root said.

    The England captain bowled 44 overs at Lord’s, the most of any bowler in the match, and took five wickets to guide the hosts to a 22-run victory and 2-1 lead in the five-match series. He contributed 44 and 33 runs and was named player of the match.

    The 34-year-old underwent a successful operation on a torn hamstring in December before undergoing a physical fitness programme during which he lost 10 kg.

    “He’s just desperate to be the man and make things happen,” former skipper Root told BBC Sport.

    “Incredible effort to be able to do that. I was just panicking that he wasn’t going to make it through the game after a couple of bad injuries but he clearly trusts his body now.

    “It’s a great sign for us moving forward. I mean it really is isn’t it, because that’s back to his best.”

    The fourth test begins on July 23 at Old Trafford.

    (Reuters)

     

  • MIL-OSI Africa: How Africa’s First Group of Twenty (G20) is Mainstreaming Gender

    Source: APO


    .

    The G20 is a global economic forum with the potential to transform lives for women and girls globally. Here’s why South Africa’s leadership in 2025 represents a pivotal moment. We asked UN Women South Africa Multi-Country Office Programme Analyst Neo Mofokeng how South Africa’s 2025 presidency could advance gender equality.

    What is the G20, and why should women care?

    The Group of Twenty (G20) is an international forum for governments and central bank governors from 19 countries, the European Union, and the African Union. It was established in 1999 to bring together the world’s major economies to discuss and promote international financial stability and sustainable economic growth. It brings together the world’s largest economies, representing 67 per cent of the global population and 85 per cent of global GDP. When G20 countries make decisions, they don’t just affect stock markets; they directly impact whether women can access credit to start businesses, find decent jobs, or receive social protection during crises. From climate financing to digital transformation, the G20’s policies ripple through national economies, determining whether women are empowered or excluded from economic opportunities. When these countries and regional entities commit to gender-responsive policies, the effects are systemic, not symbolic.

    What makes South Africa’s G20 presidency historic?

    South Africa’s G20 presidency in 2025 marks a critical moment as it is the first time an African country has led the forum. This leadership comes just five years before the 2030 deadline for achieving the Sustainable Development Goals (SDGs), bringing renewed urgency to accelerate progress on SDGs, particularly SDG 5: Gender Equality. Under the theme “Solidarity, Equality, Sustainability”, South Africa’s presidency directly aligns with the global agenda for gender equality and women’s empowerment. It is worth noting that South Africa has prioritized debt sustainability for low-income countries – a key gender justice issue, as debt crises often trigger austerity measures that disproportionately affect women and girls by reducing access to healthcare, education, and social protection.

    What does gender mainstreaming mean in the G20 context?

    While the G20 includes a dedicated Working Group on Women’s Empowerment, true progress requires gender mainstreaming, which is the embedding of gender perspectives across all working groups, not just the one explicitly focused on women’s issues. This means finance ministers considering how monetary policies affect women differently, infrastructure discussions evaluating women’s mobility and safety, and trade negotiations assessing impacts on women entrepreneurs. There is no such thing as gender-neutral economic policy – all decisions have differentiated impacts on women and men.

    What are the priorities for gender mainstreaming for this year’s G20?

    To carry forward the Global South priorities from the previous G20 presidencies of Indonesia, India, and Brazil, the following priorities were adopted as the focus areas for gender mainstreaming into this G20 presidency. The first priority is to shift policy perspectives on the care economy around paid and unpaid care work and household responsibilities. The second is to promote financial inclusion of and for women, and the third priority is to address gender-based violence and femicide, which threaten the lives and livelihoods of women.

    How is progress on gender equality measured in the G20?

    Despite the growing recognition of the importance of gender equality, tracking progress remains challenging. The most prominent commitment is the 2014 “25×25 goal”, reducing the gender gap in labour force participation by 25 per cent by 2025. As this deadline approaches, it serves as a critical test case for G20 accountability. However, other dimensions like unpaid care work, gender-based violence, and women’s leadership receive less attention. Gender-related commitments sometimes appear in one year’s declaration but vanish in the next, making long-term progress difficult to track. This is another reason why mainstreaming gender in the G20 is so important.

    What makes the G20’s influence on gender equality so significant?

    In a world of countless international forums, the G20’s influence is unmatched. When G20 countries commit to closing gender gaps in labour force participation or expanding women’s access to finance, the ripple effects shift global economic patterns and influence international norms far beyond G20 borders. The G20 serves as a strategic lever with the capacity to drive policy coherence by integrating gender equality across economic, climate, and digital agendas, foster shared accountability through joint monitoring, and mobilize financing with intent, ensuring gender equality is resourced, not just referenced.

    What is UN Women’s role in the G20 process?

    UN Women plays a pivotal role by advocating for gender mainstreaming across all G20 policy areas, providing technical expertise and data to working groups, and engaging with key stakeholders like the Women 20 (W20) engagement group. The organization works to ensure that gender perspectives are systematically mainstreamed into G20 discussions, communiqués, and policy frameworks, with a strong focus on women’s economic empowerment, financial inclusion, and ending violence against women and girls.

    How has UN Women supported South Africa’s G20 presidency?

    UN Women, through its South Africa Multi-Country Office, has provided comprehensive technical and financial support to the South African Government, made possible by backing from The Ford Foundation, the Government of Ireland, and the UN Women Eastern and Southern Africa Regional Office. This support has been crucial in advancing gender equality within South Africa’s G20 agenda.

    • Youth Engagement: In February 2025, UN Women partnered with the South African Institute of International Affairs youth division to organize the “Bridging the Gap for Global Impact” workshop in Johannesburg, bringing together 150 young leaders aged 18-25. The workshop provided tools for effectively engaging decision-makers and included panel discussions on gender advocacy, enabling participants to develop strategies for promoting gender equality.
    • Transforming Patriarchal Masculinities: In March 2025, UN Women hosted a dialogue on “Transforming Patriarchal Masculinities for a Gender-Equal World” in Pretoria, bringing together 150 students from universities, technical and vocational education and training institutions, and high schools. This dialogue compiled youth recommendations for the Women’s Empowerment Ministerial Working Group meeting.
    • Technical Working Group Support: UN Women provided crucial support to all three Empowerment of Women Working Group meetings throughout 2025. The February virtual meeting focused on setting the priorities of the care economy, financial inclusion, and gender-based violence. The May meeting in Sun City emphasized advancing financial inclusion and developing a Guidelines Framework for mainstreaming women’s priorities in global financial systems. The July meeting at Kruger National Park concentrated on the care economy – recognizing, reducing, and redistributing care work.
    • Private Sector Engagement: UN Women supported a groundbreaking Private Sector Breakfast in May, bringing together corporate leaders, investors, and entrepreneurs to align business practices with G20 gender equality goals. Grounded in the Women’s Empowerment Principles, this initiative moved beyond symbolic participation to actionable commitments.
    • Disability Inclusion: Additionally, UN Women supported disability inclusion initiatives and the W20 inception meeting, demonstrating comprehensive engagement across all aspects of South Africa’s gender equality agenda.

    What does success look like for gender equality in the G20?

    Success in 2025 means moving beyond rhetoric to gender-transformative policies with robust accountability mechanisms. It requires recognizing gender as intersectional, addressing the diverse experiences of all women and gender-diverse individuals across lines of race, class, disability, and age. At the current pace, it will take over 123 years to close gender gaps globally. The G20 has the power to change this trajectory, but only if gender equality becomes a lived reality, not just a shared goal.

    Distributed by APO Group on behalf of UN Women – Africa.

    MIL OSI Africa –

  • Fire at mall in Iraq leaves at least 60 dead: Report

    Source: Government of India

    Source: Government of India (4)

    A massive fire in a hypermarket in al-Kut city in eastern Iraq has left at least 60 people dead and 11 others missing, Reuters reported citing city’s health authorities and two police sources on Thursday.

    Videos circulating on social media showed flames engulfing a five-storey building in al-Kut overnight as firefighters tried to contain the blaze.

    “We have compiled a list of 59 victims whose identities have been confirmed, but one body was so badly burned that it has been extremely difficult to identify,” a city health official told Reuters.

    “We have more bodies that have not been recovered still under fire debris,” city official Ali al-Mayahi told Reuters.

    The cause of the fire was not immediately known, but the province’s governor said initial results from an investigation would be announced within 48 hours, the state news agency (INA)reported.

    “We have filed lawsuits against the owner of the building and the mall,” INA quoted the governor as saying.

    (Reuters)

  • Nitish Kumar announces 125 units of free electricity for households in Bihar from August 1

    Source: Government of India

    Source: Government of India (4)

    Bihar Chief Minister Nitish Kumar on Thursday announced that every household in the state will receive 125 units of electricity free of cost every month, starting from August 1.

    In a post on social media platform X, Kumar said the move would benefit 1.67 crore domestic consumers across Bihar. “This step is aimed at providing relief and empowerment to the people,” he said.

    The announcement is part of the state government’s push to ease the financial burden on households while expanding access to affordable electricity.

    Kumar also laid out a roadmap for renewable energy in the state, saying that over the next three years, solar power plants would be installed on rooftops or nearby public land, with the consent of consumers. The target is to generate up to 10,000 MW of solar energy in Bihar.

    Under the existing Kutir Jyoti Yojana, the state will cover the full cost of installing solar panels for extremely poor families. Other households will receive financial support to adopt solar power.

    Reiterating the state’s focus on energy access, the Chief Minister said the government has consistently worked to keep electricity affordable, and the current step marks a further commitment toward sustainability and welfare.

    JD(U) MLC Neeraj Kumar called the move a “master stroke” ahead of the elections. He said the scheme would benefit people across caste and religious lines, and credited Kumar with improving energy access since assuming office.

    “When Nitish Kumar came to power, he removed the lantern from the homes of the poor and backward classes. Now he is removing the burden of electricity bills, helping the next generation study without interruption,” Neeraj said.

    Taking a swipe at the Opposition, he added, “This move will send a 33,000-volt current to those who want to keep Bihar in darkness.”

    Earlier, RJD leader and Leader of Opposition Tejashwi Yadav had promised 200 units of free electricity if voted to power.

    IANS

  • Trump says he’s not planning to fire Fed’s Powell

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates.

    A Bloomberg report earlier Wednesday saying that Trump was likely to fire Powell soon sparked a drop in stocks and the dollar, and a rise in Treasury yields.

    Trump, who has been criticizing Powell on an almost daily basis for being “TOO LATE” to cut interest rates, said the report wasn’t true. But Trump confirmed he had floated the idea with Republican lawmakers on Tuesday evening, marking the latest chapter in an escalating campaign by Trump against the independent central bank and its embattled chief.

    “I don’t rule out anything, but I think it’s highly unlikely unless he has to leave for fraud,” Trump said, a reference to recent White House and Republican lawmaker criticism of cost overruns in the $2.5 billion renovation of the Fed’s historic headquarters in Washington. There has been no evidence of fraud, and the Fed has pushed back on criticism of its handling of the project.

    Powell, who was nominated by Trump during his first term in late 2017 to lead the Fed and then nominated for a second term by Democratic President Joe Biden four years later, has repeatedly said he intends to serve out his term, which runs through May 15, 2026. A recent Supreme Court opinion has solidified a long-standing interpretation of the law that the Fed chair cannot be fired over policy differences but only “for cause.”

    In an interview aired later on Wednesday, Trump was again asked if he was thinking of removing Powell. “I’d love it if he wants to resign, that would be up to him,” Trump told the Real America’s Voice. “They say it would disrupt the market if I did.”

    Treasury yields pared declines and stocks ended the day higher after Trump’s comments, which included the familiar complaint that Powell is a “terrible” chair for keeping the Fed’s short-term policy rate in the 4.25%-4.50% range since December while the central bank assesses the impact of sharply higher tariffs on inflation.

    Trump blames the Fed for higher long-term rates that increase the cost of U.S. government borrowing. His attacks on Powell have continued since his signing on July 4 of the “Big Beautiful Bill,” the tax and spending bill that independent analysts say will add trillions of dollars to the U.S. deficit.

    “A HUGE MISTAKE”

    Republican Senator Thom Tillis of North Carolina, who opposed the tax bill and has since said he won’t run for reelection, on Wednesday delivered a spirited defense of an independent Fed, which economists say is the linchpin of U.S. financial and price stability.

    “There’s been some talk about potentially firing the Fed chair,” said Tillis, a member of the Senate Banking Committee, which oversees the Fed and confirms presidential nominations to its Board. Subjecting the Fed to direct presidential control would be a “huge mistake,” he said.

    “The consequences of firing a Fed chair, just because political people don’t agree with that economic decision, will be to undermine the credibility of the United States going forward, and I would argue if it happens you are going to see a pretty immediate response, and we’ve got to avoid that,” said Tillis.

    Other Republicans downplayed the possibility of Trump’s firing Powell.

    Asked if it would be a problem for Trump to fire Powell, Senate Majority Leader John Thune told reporters: “My understanding is he doesn’t have any intention of doing that.”

    “President Trump’s own analysis and that of his Treasury secretary is that he cannot fire Jay Powell,” House Financial Services Committee Chair French Hill told CNBC earlier on Wednesday.

    RENOVATIONS AT THE FED

    Last week, the White House appeared to try to lay the groundwork for firing Powell for cause when the director of the Office of Management and Budget, Russell Vought, sent Powell a letter saying that Trump was “extremely troubled” by the renovations of two Fed buildings.

    Powell responded by asking the U.S. central bank’s inspector general to review the project. The central bank also posted a “frequently asked questions” fact sheet, which rebutted some of Vought’s assertions about VIP dining rooms and elevators that he said added to the costs.

    “Nobody is fooled by President Trump and Republicans’ sudden interest in building renovations — it’s clear pretext to fire Fed Chair Powell,” Elizabeth Warren, the top Democrat on the Senate Banking Committee and herself a longtime critic of Powell, posted on X. Warren was the committee’s only member to vote against Powell’s renomination as chair in 2022, saying he had not done enough on regulation.

    Fed policymakers are worried that, with 40-year-high inflation only recently in the rear-view mirror, any bump up in inflation coupled with a too-early cut to short-term borrowing costs could ignite expectations that inflation is back, a potentially self-fulfilling prophecy that could weaken the economy and undermine progress on price stability.

    Analysts said they feared the pressure campaign on Powell would continue — with deleterious effects on the Fed’s ability to do its congressionally mandated job of both keeping prices stable and maximizing employment.

    “Any reduction in the independence of the Fed would likely add upside risks to an inflation outlook that is already subject to upward pressures from tariffs and somewhat elevated inflation expectations,” wrote JP Morgan chief U.S. economist Michael Feroli, who said he doubts the “saga” of the president’s repeated threats to remove Powell is over.

    Feroli and others noted that continued pressure on Powell would likely push up longer-term interest rates as investors demand more protection from the risk of higher inflation — making U.S. government borrowing more, not less, expensive.

    The “formal process” for identifying a successor to Powell is under way, Treasury Secretary Scott Bessent has said. Bessent is one candidate for the job, along with White House economic adviser Kevin Hassett, former Fed Governor Kevin Warsh and Fed Governor Christopher Waller.

    (Reuters)

  • Amit Shah to inaugurate cooperative and employment festival in Jaipur today

    Source: Government of India

    Source: Government of India (4)

    Union Home and Cooperation Minister Amit Shah will inaugurate the Cooperative and Employment Festival on Thursday in Dadiya village, Jaipur. The event is part of the International Cooperative Year celebrations declared by the United Nations General Assembly for 2025.

    Rajasthan Chief Minister Bhajan Lal Sharma will also attend the programme. 

    The festival is being held as part of a nationwide initiative in which 54 cooperative-related responsibilities have been assigned to states. Rajasthan is among the key states hosting the event.

    During the Cooperative Conference, the Union Minister will inaugurate 24 food grain storage warehouses and 64 millet outlets virtually, and also review an exhibition of cooperative products. The focus remains on strengthening food security and promoting sustainable agriculture.

    Alongside, the Employment Festival will see Shah distribute appointment letters to newly selected government recruits. He is also scheduled to interact with candidates and beneficiaries from four districts, reflecting the Centre’s push for employment generation.

    Preparations for the high-profile event were reviewed earlier this week by Rajasthan’s Cooperative Minister Gautam Kumar Dak, who conducted a thorough inspection of the venue. He instructed officials to ensure smooth arrangements and proper facilities for attendees, including seating, water, and refreshments.

    The festival is expected to draw large participation from cooperative institutions and stakeholders across Rajasthan and will serve as a major platform to promote cooperative development and employment initiatives in the state.

  • Dharmendra Pradhan inaugurates University of Southampton’s India campus in Gurugram

    Source: Government of India

    Source: Government of India (4)

    Union Education Minister Dharmendra Pradhan on Wednesday inaugurated the India campus of the University of Southampton in Gurugram

    This marks the first foreign university to establish a campus in India under the University Grants Commission’s new regulations,

    Describing the event as a “momentous milestone” in the internationalisation of education under the National Education Policy (NEP) 2020, Pradhan said the development also deepens the education pillar of the India–UK strategic partnership, as outlined in the India–UK Roadmap 2030.

    “Southampton University’s campus in Gurugram will create new synergies, foster a new culture of curiosity and excellence, and present an added choice to students to access world-class education at a more affordable cost and nearer to home and family,” he said.

    Pradhan also urged the university to introduce STEM programmes and contribute to India’s vision of becoming a global innovation hub.

    The launch event was attended by Haryana Chief Minister Nayab Singh Saini, Lord Patel OBE, Chancellor of the University and a member of the UK House of Lord, British High Commissioner to India Lindy Cameron, and UGC Chairman Dr. Vineet Joshi.

    Pradhan commended the university for establishing the state-of-the-art campus within a year of receiving the Letter of Intent.

    Highlighting the growing educational ties between India and the UK, Pradhan referred to Prime Minister Narendra Modi’s description of this relationship as a “living bridge” that connects the two nations.

    UGC Chairman Dr. Vineet Joshi called the Gurugram campus a proud milestone and a model for future international collaborations under NEP 2020. He said it reaffirms India’s emerging role as a global hub for education.

    The new campus will offer undergraduate and postgraduate programmes aligned with UK academic standards. Fields of study include Computer Science, Business Management, Economics, Accounting and Finance. Students will also have the flexibility to pursue parts of their education in the UK or Malaysia.

    Academic programmes at the campus are scheduled to begin in 2025, with the inaugural cohort comprising students from India, the UAE, and Nepal. Undergraduate offerings include BSc degrees in Computer Science, Economics, Accounting & Finance, and Business Management, while postgraduate options include MSc degrees in Finance and International Management.

    The university said over 75 faculty members from leading global institutions will join the Gurugram campus, ensuring international academic quality. Its global alumni network of over 290,000 graduates, including more than 1,700 from India, is also expected to play a key role in mentoring students and facilitating industry engagement.

  • Norway’s Olympic medallist Gronvold dies at 49 after lightning strike

    Source: Government of India

    Source: Government of India (4)

    Olympic ski cross bronze medallist Audun Gronvold has died at the age of 49 after being struck by lightning during a cabin trip, the Norwegian Ski Federation said on Wednesday.

    Gronvold was rushed to hospital and received treatment for his injuries but died late on Tuesday, it added.

    Born in Hamar, Gronvold won bronze medals in men’s ski cross at the 2010 Vancouver Olympics and 2005 World Ski Championships.

    He was a national team athlete in alpine skiing from the 1993-94 to the 2003-04 season.

    “Norwegian skiing has lost a remarkable figure who has meant so much to both the alpine and freestyle communities,” federation president Tove Moe Dyrhaug said.

    “Audun had a great career in both alpine skiing and ski cross, before he became a national team coach in ski cross. The Norwegian Ski Association also remembers his efforts on the ski board. There will be a big void after Audun.”

    -Reuters

  • Enumeration drive in final phase, over 88% forms received in Bihar

    Source: Government of India

    Source: Government of India (4)

    As the final phase of the electoral roll revision process has achieved a remarkable milestone in its ongoing enumeration drive. Out of a total of 7.89 crore electors as of June 24, more than 6.99 crore have already submitted their enumeration forms, marking a robust 88.65% response rate.

    According to the official data released on Wednesday, 6,99,92,926 electors out of the total 7,89,69,844 have submitted their forms, accounting for 88.65 per cent coverage. Of these, 6,47,24,300 forms-nearly 82 per cent-have already been uploaded into the electoral system.

    The Enumeration process, which serves as the foundation for revising electoral rolls, has also brought to light discrepancies that are now under review. Nearly 4.5 per cent of electors-35,69,435 individuals-were not found at their listed addresses despite three visits by Booth Level Officers (BLOs). Among these, officials have categorised approximately 12.5 lakh as probably deceased, over 17.3 lakh as likely to have permanently shifted, and nearly 5.7 lakh electors have been identified as enrolled in more than one location.

    With 54,07,483 forms still pending-about 6.85 per cent of the total electorate- the Commission is urging all remaining electors to complete the process before the July 25 deadline. Citizens can check their enumeration status online through the ECINet App or the voter services portal at voters.eci.gov.in.

    In a bid to ensure transparency and accuracy, the Commission will begin sharing data on unverified electors with district-level presidents of political parties and the 1.5 lakh Booth Level Agents appointed by them. This step is intended to verify the current status of individuals listed as absent, deceased, or duplicated in the electoral roll.

    To reach every eligible voter, special camps have been organised across all 5,683 wards of Bihar’s 261 urban local bodies. The initiative also accounts for those temporarily residing outside the state, allowing them to submit their forms digitally via the ECINet App or the official website. Alternatively, they may share completed forms with BLOs through family members or messaging platforms such as WhatsApp.

     

  • West Indies all-rounder Russell to retire from international cricket

    Source: Government of India

    Source: Government of India (4)

    Two-time Twenty20 World Cup winner Andre Russell will retire from international cricket at age 37 after the second T20 match against Australia on July 22 in his hometown of Kingston, Jamaica, Cricket West Indies (CWI) said on Wednesday.

    All-rounder Russell, who won the T20 World Cup in 2012 and 2016, has earned 84 international caps in the format, scoring three fifties and taking 61 wickets.

    The white-ball specialist, who played only one test match, also appeared in 56 One-Day Internationals (ODI), taking 70 wickets. He last played in the 50-over format in 2019.

    “Words cannot explain what it meant. To represent the West Indies has been one of the proudest achievements in my life,” Russell said in a statement.

    “When I was a kid, I did not expect to get to this level, but the more you start to play and get to love the sport, you realize what you can achieve. This inspired me to become better because I wanted to leave a mark in the maroon colours and become an inspiration to others.”

    Russell, who travels around the world competing in T20 leagues and most recently appeared in Major League Cricket in the U.S. this month, said he wanted to finish his international career on a high.

    “His hunger to perform and win for West Indies has never wavered. I wish him all the best on his next chapter, and I hope he continues to inspire generations to come,” West Indies coach Daren Sammy said.

    West Indies host Australia in the first T20 of the five-match series on Sunday in Kingston. Australia won their test series 3-0.

    -Reuters

  • Sensex, Nifty open flat amid search for fresh market triggers

    Source: Government of India

    Source: Government of India (4)

    Indian equity markets opened on a muted note Thursday morning as investors awaited new cues to help break the prevailing consolidation phase.

    The BSE Sensex dipped slightly by 15 points to open at 82,619, while the NSE Nifty edged down by 2 points to 25,210. Despite the cautious start in benchmark indices, investor interest remained strong in the broader markets. The Nifty Midcap 100 rose 123 points (0.18%) to 59,741, while the Nifty Smallcap 100 gained 70 points (0.37%) to trade at 19,210.

    Sector-wise, auto, pharma, FMCG, metals, real estate, energy, infrastructure, and public sector enterprises registered early gains. On the other hand, IT, PSU banks, financial services, and media stocks came under selling pressure.

    Among the Sensex constituents, Sun Pharma, M&M, Trent, Kotak Mahindra Bank, Tata Motors, NTPC, BEL, Titan, and Power Grid were among the top performers. Meanwhile, Tech Mahindra, ICICI Bank, Axis Bank, Infosys, and Hindustan Unilever were among the major laggards.

    Market analysts noted that expectations around an India-US interim trade deal have already been priced in, limiting chances for an immediate breakout. However, any unexpected tariff reductions—such as duties below 20%, possibly around 15%—could provide a fresh upward push.

    Most Asian markets were trading flat to slightly positive. Indices in Tokyo, Shanghai, Bangkok, and Jakarta posted gains, while Hong Kong and Seoul remained in negative territory.

    Wall Street closed higher on Wednesday, aided by positive sentiment across key sectors. Back home, foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹1,858 crore on July 16. In contrast, domestic institutional investors (DIIs) provided support to the market for the eighth consecutive session, purchasing shares worth ₹1,223 crore.

    While short-term movements remain range-bound, analysts believe the broader outlook remains constructive, provided critical support levels hold firm.

  • Amarnath Yatra suspended due to heavy rainfall forecast; no batch allowed today

    Source: Government of India

    Source: Government of India (4)

    As a precautionary measure to ensure the safety of pilgrims, authorities on Thursday suspended the Amarnath Yatra following a forecast of heavy rainfall along the route. No movement of Yatris was allowed from Jammu to Kashmir Valley and also from the two base camps – Baltal and Pahalgam – towards the holy cave shrine.

    Officials said, “Due to an adverse weather advisory predicting heavy rain along the Yatra route from Jammu to the Valley, as well as from the twin base camps to the holy cave shrine, no movement of Yatris will be permitted today.”

    The Meteorological Department (MeT) has forecast widespread light to moderate rainfall in Kashmir and heavy to very heavy rain in the Jammu division over the next 24 hours.

    Since the Yatra commenced on July 3, more than 2.37 lakh pilgrims have had ‘darshan’ at the sacred cave shrine.

    Chief Minister Omar Abdullah said that, given the overwhelming response and enthusiasm of the devotees, this year’s Amarnath Yatra is likely to surpass the expected figure of 3.5 lakh pilgrims.

    The Amarnath Yatra will conclude on August 9.

    (With inputs from IANS)

  • Syria’s interim president says protecting Druze a ‘priority’ as Israel bombs defence ministry in Damascus

    Source: Government of India

    Source: Government of India (4)

    Syria’s interim President Ahmed al-Sharaa said on Thursday that protecting Druze citizens and their rights is “our priority”, as Israel vowed to destroy Syrian government forces attacking Druze in southern Syria.

    In his first televised statement after powerful Israeli air strikes on Damascus on Wednesday, Sharaa addressed Druze citizens saying “we reject any attempt to drag you into hands of an external party”.

    “We are not among those who fear the war. We have spent our lives facing challenges and defending our people, but we have put the interests of the Syrians before chaos and destruction,” he said.

    He added that the Syrian people are not afraid of war and are ready to fight if their dignity is threatened.

    Israel’s airstrikes blew up part of Syria’s defence ministry and hit near the presidential palace as it vowed to destroy government forces attacking Druze in southern Syria and demanded they withdraw.

    The attacks marked a significant Israeli escalation against Sharaa’s Islamist-led administration. They came despite his warming ties with the U.S. and his administration’s evolving security contacts with Israel.

    Describing Syria’s new rulers as barely disguised jihadists, Israel has said it will not let them move forces into southern Syria and vowed to shield the area’s Druze community from attack, encouraged by calls from Israel’s own Druze minority.

    The U.S. said the fighting would stop soon.

    “We have engaged all the parties involved in the clashes in Syria. We have agreed on specific steps that will bring this troubling and horrifying situation to an end tonight,” Secretary of State Marco Rubio said on social media.

    The United Nations Security Council will meet on Thursday to address the conflict, diplomats said.

    “The council must condemn the barbaric crimes committed against innocent civilians on Syrian soil,” said Israel’s ambassador to the U.N., Danny Danon. “Israel will continue to act resolutely against any terrorist threat on its borders, anywhere and at any time.”

    WARPLANES OVER DAMASCUS

    The Syrian Network for Human Rights said 169 people had been killed in this week’s violence. Security sources put the toll at 300. 

    Damascus came under a series of massive strikes on Wednesday afternoon. Columns of smoke rose from the area near the defence ministry. A section of the building was destroyed, the ground strewn with rubble.

    An Israeli military official said the entrance to the military headquarters in Damascus was struck, along with a military target near the presidential palace. The official said Syrian forces were not acting to prevent attacks on Druze and were part of the problem.

    “We will not allow southern Syria to become a terror stronghold,” said Eyal Zamir, Israel’s military chief of staff.

    Sharaa faces challenges to stitch Syria back together in the face of deep misgivings from groups that fear Islamist rule. In March, mass killings of members of the Alawite minority exacerbated the mistrust.

    Druze, followers of a religion that is an offshoot of Islam, are spread between Syria, Lebanon and Israel.

    Following calls in Israel to help Druze in Syria, scores of Israeli Druze broke through the border fence on Wednesday, linking up with Druze on the Syrian side, a Reuters witness said.

    Israeli Prime Minister Benjamin Netanyahu said the Israeli military was working to save the Druze and urged Israeli Druze citizens not to cross the border. The Israeli military said it was working to safely return civilians who had crossed.

    Israeli Druze Faez Shkeir said he felt helpless watching the violence in Syria.

    “My family is in Syria – my wife is in Syria, my uncles are from Syria, and my family is in Syria, in Sweida, I don’t like to see them being killed. They kicked them out of their homes, they robbed and burned their houses, but I can’t do anything,” he said.

    (Reuters)

  • G20 finance chiefs to meet under tariff cloud in South Africa

    Source: Government of India

    Source: Government of India (4)

    G20 finance chiefs will meet in South Africa on Thursday under the shadow of President Donald Trump’s tariff threats and questions over their ability to tackle global challenges together.

    The club, which came to fore as a forum for international cooperation to combat the global financial crisis, has for years been hobbled by disputes among key players exacerbated by Russia’s war in Ukraine and Western sanctions on Moscow.

    Host South Africa, under its presidency motto “Solidarity, Equality, Sustainability,” has aimed to promote an African agenda, with topics including the high cost of capital and funding for climate change action.

    The G20 aims to coordinate policies but its agreements are non-binding.

    U.S. Treasury Secretary Scott Bessent will not attend the two-day meeting of finance ministers and central bank governors in the coastal city of Durban, marking his second absence from a G20 event in South Africa this year.

    Bessent also skipped February’s Cape Town gathering, where several officials from China, Japan and Canada were also absent, even though Washington is due to assume the G20 rotating presidency at the end of the year.

    Michael Kaplan, U.S. acting undersecretary for international affairs, will represent Washington at the meetings.

    A G20 delegate, who asked not to be named, said Bessent’s absence was not ideal but that the United States was engaging in discussions on trade, the global economy and climate language.

    Finance ministers from India, France and Russia are also set to miss the Durban meeting.

    South Africa’s central bank governor Lesetja Kganyago said that representation was what mattered most.

    “What matters is, is there somebody with a mandate sitting behind the flag and are all countries represented with somebody sitting behind the flag?” Kganyago told Reuters.

    U.S. officials have said little publicly about their plans for the presidency next year, but one source familiar with the plans said Washington would reduce the number of non-financial working groups, and streamline the summit schedule.

    Brad Setser, a former U.S. official now at the Council on Foreign Relations, said he expected it to be “kind of a scaled-back G20 with less expectation of substantive outcomes.”

    ‘TURBULENT TIMES’

    Trump’s tariff policies have torn up the global trade rule book. With baseline levies of 10% on all U.S. imports and targeted rates as high as 50% on steel and aluminium, 25% on autos and potential levies on pharmaceuticals, extra tariffs on more than 20 countries are slated to take effect on August 1.

    His threat to impose further 10% tariffs on BRICS nations — of which eight are G20 members — has raised fears of fragmentation within global forums.

    German finance ministry sources said on Tuesday that the Durban meeting would seek to deepen global relationships in “turbulent times”.

    South Africa’s Treasury Director General Duncan Pieterse said the group nonetheless hoped to issue the first communique under the South African G20 presidency by the end of the meetings.

    The G20 was last able to take a mutually agreed stance to issue a communique in July of 2024, agreeing on the need to resist protectionism but making no mention of Russia’s invasion of Ukraine.

    (Reuters)

  • UIDAI steps up efforts to deactivate Aadhaar numbers of deceased individuals, launches new reporting portal

    Source: Government of India

    Source: Government of India (4)

    In a move to curb identity fraud and unauthorised use of Aadhaar numbers, the Unique Identification Authority of India (UIDAI) has initiated a multi-pronged strategy to deactivate Aadhaar numbers of deceased individuals, the Ministry of Electronics & IT said on Wednesday. The effort aims to maintain the accuracy and integrity of the Aadhaar database, which serves as a crucial digital identity platform for residents of India and NRIs.

    Aadhaar, the 12-digit unique identity number issued by UIDAI, is never reassigned once generated. However, if not deactivated after a person’s death, these numbers could be misused. To address this concern, UIDAI has partnered with multiple stakeholders, including state governments, the Registrar General of India (RGI), banks, and other ecosystem partners, to ensure timely and validated deactivation of such Aadhaar numbers.

    As part of its ongoing efforts, UIDAI requested the RGI to share Aadhaar-linked death records through the Civil Registration System (CRS). So far, the RGI has shared approximately 1.55 crore death records from 24 States and Union Territories. After due validation, UIDAI has successfully deactivated about 1.17 crore Aadhaar numbers. For States and UTs not using the CRS, UIDAI has received an additional 6.7 lakh death records, and deactivation is currently in progress.

    Taking a further step toward empowering citizens, UIDAI launched a dedicated service – “Reporting of Death of a Family Member” – on the myAadhaar Portal on June 9, 2025. This digital service currently covers 24 CRS-enabled States/UTs and allows a family member to report the death by submitting the deceased’s Aadhaar number, Death Registration Number, and other demographic details after self-authentication. The submitted data undergoes a thorough validation process before the Aadhaar number is deactivated. Efforts are underway to extend this service to the remaining States and UTs.

    UIDAI is also considering acquiring death records from banks and other Aadhaar ecosystem partners that may maintain such data, adding another layer of information verification.

    In another unique initiative, UIDAI has launched a pilot program with state governments to verify the status of Aadhaar holders aged over 100 years. The demographic details of these individuals are being shared with state authorities to confirm whether they are alive. Based on the feedback, UIDAI will proceed with appropriate validations and deactivate the Aadhaar numbers where necessary.

    UIDAI has urged citizens to report the death of any family member on the myAadhaar Portal after obtaining a valid death certificate from the registering authorities. This, the Authority states, is crucial to prevent misuse of the deceased’s Aadhaar number and to ensure the overall sanctity of the national identity database.

  • President Murmu to confer Swachh Survekshan 2024-25 awards today

    Source: Government of India

    Source: Government of India (4)

    President Droupadi Murmu will confer the Swachh Survekshan 2024-25 Awards at a ceremony on Thursday at Vigyan Bhawan, New Delhi. The event, organized by the Ministry of Housing and Urban Affairs (MoHUA), will be attended by Union Minister Manohar Lal and Minister of State Tokhan Sahu.

    Now in its ninth edition, Swachh Survekshan has grown into the world’s largest urban cleanliness survey. This year’s awards will honour top-performing cities and states across four major categories, including the newly introduced Super Swachh League (SSL), which features cities consistently ranking in the top tier of cleanliness. A total of 78 awards will be presented.

    Swachh Survekshan 2024-25 assessed over 4,500 urban local bodies through 3,000+ assessors who conducted inspections across every ward over a 45-day period. The evaluation emphasized the theme of “Reduce, Reuse, Recycle,” and reached over 14 crore citizens through direct engagement, digital platforms, and social media.

    For the first time, cities have been grouped into five population-based categories, ensuring fair evaluation and recognition – from very small towns to million-plus cities. The initiative reflects a commitment to inclusive urban development, recognizing not just the cleanest cities but also those showing exceptional promise.

    With a rigorous assessment framework of 10 parameters and 54 indicators, Swachh Survekshan 2024-25 continues to be a transformative force in shaping urban India’s sanitation and waste management landscape.

  • MIL-OSI Banking: Money Market Operations as on July 16, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,91,245.23 5.30 3.00-6.55
         I. Call Money 19,774.73 5.36 4.75-5.45
         II. Triparty Repo 3,84,694.90 5.28 5.25-5.34
         III. Market Repo 1,84,341.05 5.34 3.00-5.90
         IV. Repo in Corporate Bond 2,434.55 5.50 5.42-6.55
    B. Term Segment      
         I. Notice Money** 168.00 5.28 4.90-5.35
         II. Term Money@@ 1,030.00 – 5.50-6.47
         III. Triparty Repo 1,393.20 5.31 5.28-5.38
         IV. Market Repo 284.77 5.45 5.45-5.45
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Wed, 16/07/2025 1 Thu, 17/07/2025 879.00 5.75
    4. SDFΔ# Wed, 16/07/2025 1 Thu, 17/07/2025 1,09,064.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,08,185.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Tue, 15/07/2025 3 Fri, 18/07/2025 57,450.00 5.49
      Fri, 11/07/2025 7 Fri, 18/07/2025 1,51,633.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       5,862.63  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -2,03,220.37  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,11,405.37  
    G. Cash Reserves Position of Scheduled Commercial Banks          
         (i) Cash balances with RBI as on July 16, 2025 9,60,845.52  
         (ii) Average daily cash reserve requirement for the fortnight ending July 25, 2025 9,63,288.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 16, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 27, 2025 5,79,904.00  

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

    – Not Applicable / No Transaction.

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

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

    $ Includes refinance facilities extended by RBI.

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

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/727

    MIL OSI Global Banks –

  • Trump says India trade agreement is close, Europe deal possible

    Source: Government of India

    Source: Government of India (4)

    The United States is very close to a trade deal with India, while an agreement could possibly be reached with Europe as well, but it is too soon to say whether a deal can be agreed with Canada, President Donald Trump said in an interview aired on Real America’s Voice on Wednesday.

    To press for what Trump views as better terms with trading partners and ways to shrink a huge U.S. trade deficit, his administration has been negotiating trade deals ahead of an August 1 deadline, when duties on most U.S. imports are due to rise again.

    “We’re very close to India, and … we could possibly make a deal with (the) EU,” Trump said, when asked which trade deals were on the horizon.

    Trump’s comments come as EU trade chief Maros Sefcovic was headed to Washington on Wednesday for tariff discussions, while an Indian trade delegation arrived in Washington on Monday for fresh talks.

    “(The) European Union has been brutal, and now they’re being very nice. They want to make a deal, and it’ll be a lot different than the deal that we’ve had for years,” he added.

    Asked about the prospects of a deal with Canada, which like the EU, is readying countermeasures if talks with the U.S. fail to produce a deal, Trump said: “Too soon to say.”

    His comment was in line with the assessment of Canadian Prime Minister Mark Carney, who said earlier on Wednesday that a deal that works for Canadian workers was not yet on the table.

    Trump also said he would probably put a blanket 10% or 15% tariff on smaller countries.

    (Reuters)

  • MIL-OSI Australia: More support to help Australian business go global

    Source: Australian Attorney General’s Agencies

    To help Australian businesses access new export opportunities and navigate the global trading environment, the Albanese Labor Government is expanding the Go Global Toolkit and launching the Go Global Export Academy.

    The Go Global Toolkit is a one-stop-shop for businesses of all sizes to assess and improve their export readiness, providing Australian businesses with better understanding of markets, local laws, regulations and requirements as well as information on tariffs and taxes.

    More than 200,000 users have accessed the Go Global Toolkit in the past year, and research indicates it has saved businesses thousands of hours over the course of their export journey.

    The expanded Toolkit will be complemented by the launch of the Go Global Academy, and will feature a series of Market Spotlight webinars to support the launch. The series will showcase insights from key export markets in Asia, Europe, UK, the Middle East, America and the Pacific. The Market Spotlight series kicks off this week, and businesses can register for free at https://export.business.gov.au/.

    The Go Global Toolkit forms part of the Government’s Simplified Trade System reforms, which is streamlining our trade system to make it cheaper, faster and easier for Australian importers and exporters to do business.

    Quotes attributable to Minister for Trade and Tourism, Senator the Hon Don Farrell:

    “Trade is vital to Australia’s economic prosperity – one in four Australian jobs are trade-related, with jobs in export industries pay 10 per cent more on average.”

    “The Albanese Government is working to create new opportunities for Aussie businesses, including in India, Southeast Asia, the UK and the Middle East.”

    “We want to make it as easy as possible for Australian businesses to discover and take up opportunities – and that’s exactly what the Go Global Toolkit does.”

    Austrade General Manager for Trade, Jay Meek:

    “Using the resources in the Go Global Toolkit – including live and on demand webinars through the Go Global Export Academy – will enable exporters to pivot when market conditions change or be first to market when new opportunities open up.”

    “Businesses can use the Go Global Toolkit Tariff Finder to explore what tariffs and taxes apply to their goods – knowledge that will arm them with the tools to navigate an increasingly complex world.”

    “The Go Global Toolkit now features a more personalised user experience with content tailored to individual business needs. Central to this is providing the right information to help exporters compare markets and build a resilient diversification strategy.”

    MIL OSI News –

  • MIL-OSI Russia: NSU student creates app for recognition, digitization and analysis of classical Tibetan texts using machine learning

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    A system for automatic recognition and transliteration of texts in classical Tibetan, focused on old printed documents made using Tibetan syllabic writing, which goes back to the ancient Indian Brahmi script, was created by a student of the Fundamental and Applied Linguistics program working at the Institute of Mathematics and Mathematical Geophysics of the Siberian Branch of the Russian Academy of Sciences. Humanitarian Institute of Novosibirsk State University Anna Murashkina. In her research, she used images of pages of classical Tibetan texts from the 18th-20th centuries from the archive of the Center for Oriental Manuscripts and Xylographs of the Institute of Mongolian, Buddhist and Tibetan Studies of the Siberian Branch of the Russian Academy of Sciences.

    — The relevance of my work is due to the need to preserve and make digitally accessible the Tibetan cultural heritage, presented in the form of many historical manuscripts. Old printed documents, manuscripts and xylographs contain unique information about philosophy, religion, medicine, history and art, playing a key role in the study of the cultural traditions of the region. This knowledge is passed down from generation to generation in Tibet. However, over time, under the influence of natural and anthropogenic factors, paper media are subject to physical destruction, which leads to the loss of priceless information and limits access to these unique materials. Currently, the Tibetan Fund of the Institute of Mongolian, Buddhist and Tibetan Studies of the Siberian Branch of the Russian Academy of Sciences contains up to 70 thousand units of chronicles that are at risk of being lost. One of the most reliable ways to preserve and systematize historical documents is to digitize them, — said Anna Murashkina.

    The young researcher set herself the task of using machine learning to build a model that would recognize Tibetan alphabet symbols from images, translate them into machine-readable form, and at the same time show greater accuracy than existing open solutions, including Tesseract.

    — To do this, I manually performed linguistic markup of Tibetan text lines from the IMBT SB RAS collection. Then, taking into account the specifics of Tibetan graphics, I developed a system for assessing the quality of optical character recognition (OCR). Then I compared existing architectures and chose a convolutional neural network model, which required additional training, — explained Anna Murashkina.

    She implemented additional training of the model on a marked corpus of documents, and as a result, a complete modular OCR algorithm was created, including the stages of pre-processing, segmentation, recognition and post-processing.

    — For me, the value of the project is that I helped digitize an archive that stores history — documents created by people of the past who wanted to pass on their knowledge to future generations. I am glad that I am helping to transfer this knowledge through time, preserve it and make it available to a wider audience. My development will be used by employees of the Institute of Mongolian, Buddhist and Tibetan Studies of the Siberian Branch of the Russian Academy of Sciences. The possibility of cooperation with the Buddhist Center for Digital Technologies, which digitizes the archives of temples and monasteries, is also being discussed. In cooperation with this organization, we will expand the possibilities of digitizing Tibetan manuscripts using open resources developed jointly with researchers from organizations in different countries, so that later everyone can touch this priceless heritage and get acquainted with the documents that are in temples and archive repositories, — said Anna Murashkina.

    Material prepared by: Elena Panfilo, NSU press service

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

    .

    MIL OSI Russia News –

  • MIL-OSI USA: Padilla, Schiff, Booker, Markey Lead 28 Senate Colleagues in Effort to Protect California’s Proposition 12

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Schiff, Booker, Markey Lead 28 Senate Colleagues in Effort to Protect California’s Proposition 12

    Senators: “The Food Security and Farm Protection Act would harm America’s small farmers and infringe on the fundamental rights of states to establish laws and regulations within their own borders.”

    This letter follows an announcement last week from the Trump Administration seeking to undermine Proposition 12 and other state laws.

    WASHINGTON, D.C. — U.S. Senators Alex Padilla (D-Calif.), Adam Schiff (D-Calif.), Cory Booker (D-N.J.), and Edward J. Markey (D-Mass.) led 28 of their Senate colleagues in strongly objecting to the inclusion of the Food Security and Farm Protection Act in the next Farm Bill or in any other legislation. This letter follows a frivolous Trump Administration lawsuit announced last week seeking to undermine Proposition 12 and other state laws.  

    In a letter to Senate Agriculture, Nutrition, and Forestry Committee Chair John Boozman (R-Ark.) and Ranking Member Amy Klobuchar (D-Minn.), the Senators raised concerns over the risk this legislation poses to California’s Proposition 12, Massachusetts’ Question 3, and other similar laws nationwide that allow states regulate their own food standards. They also highlighted how undermining these measures would hurt American farmers who have long met the standards set by Proposition 12 or who already invested in resources to comply.  

    “This legislation would have a sweeping impact if passed—threatening countless state laws and opening the floodgates to unnecessary litigation. The bill is particularly draconian in that it aims to negate state and local laws when there are no federal standards to take their place, creating an overnight regulatory vacuum,” wrote the Senators. “In doing so, it would drastically broaden the scope of federal preemption, and disregard the wisdom of duly-enacted laws that address local concerns.” 

    “Countless farmers who wanted to take advantage of this market opportunity invested resources and made necessary modifications to be compliant. Federal preemption of these laws would be picking the winners and losers, and would seriously harm farmers who made important investments,” continued the Senators. 

    Fifteen states, including California, have implemented public health, food safety, and human standards for the in-state production and sale of certain products, following demands from consumers, food companies, and farmers. These standards include consumer information safeguards, food quality and safety regulations, animal welfare standards, and more.  

    In addition to Padilla, Schiff, Booker, and Markey, the letter is signed by Senators Angela Alsobrooks (D-Md.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Maria Cantwell (D-Wash.), Christopher Coons (D-Del.), Tammy Duckworth (D-Ill.), John Fetterman (D-Pa.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Maggie Hassan (D-N.H.), Martin Heinrich (D-N.M), Mazie Hirono (D-Hawaii), Mark Kelly (D-Ariz.), Andy Kim (D-N.J.), Angus King (I-Maine), Jeffrey Merkley (D-Ore.), Chris Murphy (D-Conn.), Patty Murray (D-Wash.), Gary Peters (D-Mich.), Ben Ray Luján (D-N.M.), Jack Reed (D-R.I.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).

    Full text of the letter is available here and below:     

    Dear Chairman Boozman and Ranking Member Klobuchar: 

    We write today expressing our strong opposition to inclusion of the “Food Security and Farm Protection Act” (S. 1326), previously known as the “Ending Agricultural Trade Suppression Act (EATS) Act,” or any similar legislation in the next Farm Bill. Modeled after former Representative Steve King’s amendment, which was intensely controversial and ultimately excluded from the final 2014 and 2018 Farm Bills, the Food Security and Farm Protection Act would harm America’s small farmers and infringe on the fundamental rights of states to establish laws and regulations within their own borders. 

    This legislation would have a sweeping impact if passed—threatening countless state laws and opening the floodgates to unnecessary litigation. The bill is particularly draconian in that it aims to negate state and local laws when there are no federal standards to take their place, creating an overnight regulatory vacuum. In doing so, it would drastically broaden the scope of federal preemption, and disregard the wisdom of duly-enacted laws that address local concerns.  

    The range of potentially impacted laws includes measures aimed at protecting states from invasive pests and infectious disease, health and safety standards, consumer information safeguards, food quality and safety regulations, animal welfare standards, and fishing regulations. Below are just a few of the many areas that could be impacted by the Food Security and Farm Protection Act:  

    • Alabama, Iowa, Nebraska, and South Dakota regulate the labeling of bitter almonds or prohibit their sale as a poison. Florida prohibits the sale of citrus fruits containing arsenic. 
    • Arkansas, Connecticut, Florida, Illinois, Indiana, Massachusetts, Minnesota, New York, Oregon, Utah, Vermont and Wisconsin have laws that restrict the importation of firewood in order to prevent the spread of invasive pests and diseases. Additionally, at least 23 states have restrictions on the importation of Ash trees in order to prevent the spread of the emerald ash borer. Alabama, Florida, Louisiana, South Carolina and Texas are among states that have passed laws to prevent the spread of the Asian citrus psyllid, which causes citrus greening, and many states have implemented regulations to protect iconic species of trees that grow in various regions of the United States.  
    • Arkansas, Kansas, Louisiana, Pennsylvania, and Texas have laws governing sales within their states of seeds and seed oils. Dozens of states have enacted laws on noxious weeds, rules for spraying manure on fields, sourcing requirements, and many other agricultural matters. 
    • Many states impose additional requirements beyond federal regulations to address risks to cattle from brucellosis (48 states), bovine tuberculosis (41 states), and Johne’s Disease (North Dakota, Wisconsin, and Wyoming).  

    Demand from consumers, food companies, and the farming community has propelled 15 states to enact public health, food safety, and humane standards for the in-state production and sale of products from egg-laying chickens, veal calves, and sows. The Food Security and Farm Protection Act was introduced with the primary goal of undermining these standards – particularly California’s Proposition 12, in response to the Supreme Court’s recent decision upholding that law, and Massachusetts’s Question 3. Last Congress, the House Agriculture Committee included a similarly harmful provision in their Farm Bill draft, adding another poison pill that contributed to a lack of progress on the next Farm Bill.  

    California’s Proposition 12 has been in full effect for over a year, while Massachusetts’s Question 3 has been in full effect since 2023. The demand for Proposition 12- and Question 3- compliant products has been met. Countless farmers who wanted to take advantage of this market opportunity invested resources and made necessary modifications to be compliant. Federal preemption of these laws would be picking the winners and losers, and would seriously harm farmers who made important investments.  

    Due to these concerns, we respectfully ask that you reject inclusion of this provision in any form, as you did in the 2014 and 2018 Farm Bills.  

    Thank you, and we look forward to working with you to pass a bipartisan Farm Bill. 

    MIL OSI USA News –

  • MIL-OSI Security: Utah Man Indicted for First Degree Murder After Allegedly Killing Another Man with a Bow and Arrow

    Source: Office of United States Attorneys

    SALT LAKE CITY, Utah – A federal grand jury in Salt Lake City returned an indictment today charging a Northeastern Utah man with first degree murder after he allegedly killed another man with a bow and arrow last month.

    Leroy Casper Poowegup Reed, 42, of Whiterocks, Utah, was charged by complaint on June 27, 2025, and ordered detained by a U.S. Magistrate Judge.  

    According to court documents, on June 26, 2025, officers from the Bureau of Indian Affairs and the Uintah County Sheriff’s Office responded to a 911 call from an individual who reported a possible vehicle accident in the Whiterocks community. It was reported that an individual was inside the vehicle unconscious and not breathing, with an arrow sticking out of him. Officers at the scene observed a black GMC pickup with the sole occupant/victim inside. The victim had an arrow pierced into his neck just above the collar bone. Officers concluded he was deceased.

    As alleged in court documents, officers located a male individual on a porch of a residence, who was yelling at law enforcement. Officers also found blood on the road in front of the residence. The resident on the porch was identified as Reed and was taken into custody. Officers also located and seized a bow and arrows, and other items. Law enforcement obtained surveillance video of the incident, which showed a black GMC truck pull up and park. The victim exited the truck and walked towards Reed’s residence. Reed was then observed walking across the driveway with a bow and arrow drawn. The victim put his hands up and the video showed Reed move closer to the victim and then release an arrow, which hit the victim in the neck above the collar bone. The victim turned and walked back to his truck and Reed turned and walked towards his residence. The arrows seized from Reed’s residence match the arrow found in the victim.

    Reed is charged with murder in the first degree while within Indian Country. His initial appearance on the indictment is scheduled for July 17, 2025, at 2:00 p.m. in courtroom 8.4 before a U.S. Magistrate Judge at the Orrin G. Hatch United States District Courthouse in downtown Salt Lake City.

    Acting United States Attorney Felice John Viti for the District of Utah made the announcement.

    The case is being investigated jointly by the Bureau of Indian Affairs, the Uintah County Sheriff’s Office and the FBI Salt Lake City Field Office’s Vernal Resident Agency.

    Assistant United States Attorneys Sam Pead and Victoria K. McFarland of the U.S. Attorney’s Office for the District of Utah are prosecuting the case.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETF) and Project Safe Neighborhoods (PSN).

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

    MIL Security OSI –

  • MIL-Evening Report: We were part of the world heritage listing of Murujuga. Here’s why all Australians should be proud

    Source: The Conversation (Au and NZ) – By Jo McDonald, Professor, Director of Centre for Rock Art Research + Management, The University of Western Australia

    Senior Ranger, Mardudunhera man Peter Cooper, oversees the Murujuga landscape Jo McDonald, CC BY-SA

    On Friday, the Murujuga Cultural Landscape in northwest Western Australia was inscribed on the UNESCO World Heritage List. We were in Paris to see Murujuga become Australia’s 21st world heritage property, but only our second property listed exclusively for its Indigenous cultural values.

    Murujuga, meaning “hip bone sticking out”, is an ancient rocky landscape rising out of the Indian Ocean in northwest Australia.

    Murujuga is shaped by the Lore and the presence of Ngarda-Ngarli – the collective term for the Traditional Owner groups of the coastal Pilbara – since Ngurra Nyujunggamu, when the earth was soft, the beginning of time.

    Murujuga includes the Burrup Peninsula, the Dampier Archipelago’s 42 islands and the listed property covers almost 100,000 hectares of land and sea country. Across this cultural landscape are between one to two million petroglyphs – rock art – created by carving designs into rock surfaces. The petroglyphs record Ngarda Ngarli’s attachment and adaptation to a changing environment through deep time.

    The UNESCO listing recognises the “outstanding universal value” of the Murujuga Cultural Landscape. This value lies in the traditional system governing it, in tangible and intangible attributes that attest to 50,000 years of Ngarda-Ngarli using and caring for the land and seascape.

    The Ngarda-Ngarli have campaigned for World Heritage Listing of the Murujuga Cultural Landscape for more than 20 years.

    Murujuga Board and Circle of Elders members in Sydney at the ICOMOS General Assembly, where they hosted a Symposium on the Cultural Landscape nomination.
    Jo McDonald, CC BY-SA

    A controversial nomination

    While the outstanding universal values of this place were not in question, the nomination became mired with broader climate concerns.

    Industrial development began at Murujuga in the 1950s and was established before Traditional Owners had decision-making authority. The Dampier Archipelago, as well as housing petroglyphs across 42 islands, is also home to one of the largest industrial hubs in the southern hemisphere.

    The recent approval for the North-West Gas Hub has elevated climate change concerns and raised questions about whether the government is serious about protecting Murujuga.

    The Murujuga Rock Art Monitoring Program (MRAMP) year two report was released around the same time as the north west gas hub announcement.

    While acidic pollution has been suggested by some, our work on the monitoring program found rain and dust at the site was pH neutral, and there is no acid rain impacting on the petroglyphs.

    Other criticism included that the air quality at the site is compromised by local gas production. The research found the air quality at Murujuga is “good” to “very good” by international standards. We also found average annual nitrogen dioxide levels − the emission under most scrutiny − is five times lower than World Health Organisation guidelines.

    According to MRAMP research, Murujuga’s air quality is well within national standards. Nitrogen dioxide is 16 times lower than the national standard, and sulphur dioxide never exceeding 10% of the national standard.

    Importantly, the research program is ongoing and will transition to monitoring led by the Ngarda-Ngarli with support and training from the scientists. And this ongoing monitoring will be part of the management regime in place to protect Murujuga as a world heritage listed site.

    The MRAMP monitoring team in action at Murujuga.
    Ben Mullins, CC BY-SA

    Ngard-Ngarli leadership

    Traditional Owners and Custodians led the world heritage nomination, supported by State and Commonwealth governments.

    Traditional Owners consider the listing will better protect Ngarda-Ngarli knowledge, lore and culture as expressed through the landscape and in the petroglyphs.

    World heritage recognition will support Ngarda-Ngarli decision-making and ongoing management across the Murujuga Cultural Landscape.

    This global recognition is a mechanism to help Ngarda-Ngarli do what they have always done: protect their culture and decide what is right for Country for future generations.

    The inscription is a testament to the old people who started this quest decades ago, many of whom have not lived to celebrate this victory.

    The Australian delegation on the floor of UNESCO during the inscription session.
    Jo McDonald, CC BY

    Australia’s deep time heritage

    Australia now has two places on the World Heritage List which are exclusively listed as Indigenous sites of outstanding universal value to all humanity.

    The Murujuga Cultural Landscape joins on the list the southwestern Victorian site Budj Bim, one of the world’s most extensive and oldest aquaculture systems.

    Murujuga Aboriginal Custodians celebrate the Word Heritage listing decision in Paris this week.
    Jo McDonald, CC BY

    By this listing, the world has recognised the deep time creative genius and ongoing connection of Ngarda-Ngarli to the Murujuga Cultural Landscape.

    This international acclaim recognises the extraordinary resilience of Australia’s First Nations peoples and should be a source of pride and celebration for all Australians.

    Jo McDonald is an employee of the University of Western Australia and receives funding from the Australian Research Council.The Centre for Rock Art Research and Management receives funding for its research and training operations from Rio Tinto. Jo was a member of the World Heritage committee and contributed to the writing of the dossier.

    Amy Stevens is an employee of Murujuga Aboriginal Corporation, which receives funding from the Australian Government, the WA Government and industry and was a lead author on the Murujuga Cultural Landscape World Heritage nomination.

    Belinda Churnside serves as Deputy Chair. Board Directors are remunerated for their duties in accordance with community-approved sitting fees. These payments are made from MAC’s operational income.

    MAC receives funding support for a range of projects from both State and Federal government departments, as well as from industry partners operating within the Burrup and Maitland Industrial Estate Agreement (BMIEA) area.

    The Department of Water and Environmental Regulation provides operational and strategic support for the Murujuga Rock Art Monitoring Program. The Department of Biodiversity, Conservation and Attractions funds MAC’s National Park Ranger Team, while other funding bodies contribute to the Murujuga Land and Sea Unit Rangers.

    All funding sources and expenditures are transparently reported in MAC’s annual financial report, which is audited each year by an independent external auditor.

    Ben Mullins is the lead scientist on the Murujuga Rock Art Monitoring Project, which is funded by the Government of Western Australia.

    Peter Hicks is the Chair of the Board of Murujuga Aboriginal Corporation (MAC). Board Directors are remunerated for their duties in accordance with community-approved sitting fees. These payments are made from MAC’s operational income.

    MAC receives funding support for a range of projects from both State and Federal government departments, as well as from industry partners operating within the Burrup and Maitland Industrial Estate Agreement (BMIEA) area.

    The Department of Water and Environmental Regulation provides operational and strategic support for the Murujuga Rock Art Monitoring Program. The Department of Biodiversity, Conservation and Attractions funds MAC’s National Park Ranger Team, while other funding bodies contribute to the Murujuga Land and Sea Unit Rangers.

    All funding sources and expenditures are transparently reported in MAC’s annual financial report, which is audited each year by an independent external auditor.

    Terry Bailey is a World Heritage advisor to Murujuga Aboriginal Corporation and WA Government and was lead editor and co-author of Murujuga Cultural Landscape World Heritage nomination. His appointment is funded by the WA Government.

    – ref. We were part of the world heritage listing of Murujuga. Here’s why all Australians should be proud – https://theconversation.com/we-were-part-of-the-world-heritage-listing-of-murujuga-heres-why-all-australians-should-be-proud-261066

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: We were part of the world heritage listing of Murujuga. Here’s why all Australians should be proud

    Source: The Conversation (Au and NZ) – By Jo McDonald, Professor, Director of Centre for Rock Art Research + Management, The University of Western Australia

    Senior Ranger, Mardudunhera man Peter Cooper, oversees the Murujuga landscape Jo McDonald, CC BY-SA

    On Friday, the Murujuga Cultural Landscape in northwest Western Australia was inscribed on the UNESCO World Heritage List. We were in Paris to see Murujuga become Australia’s 21st world heritage property, but only our second property listed exclusively for its Indigenous cultural values.

    Murujuga, meaning “hip bone sticking out”, is an ancient rocky landscape rising out of the Indian Ocean in northwest Australia.

    Murujuga is shaped by the Lore and the presence of Ngarda-Ngarli – the collective term for the Traditional Owner groups of the coastal Pilbara – since Ngurra Nyujunggamu, when the earth was soft, the beginning of time.

    Murujuga includes the Burrup Peninsula, the Dampier Archipelago’s 42 islands and the listed property covers almost 100,000 hectares of land and sea country. Across this cultural landscape are between one to two million petroglyphs – rock art – created by carving designs into rock surfaces. The petroglyphs record Ngarda Ngarli’s attachment and adaptation to a changing environment through deep time.

    The UNESCO listing recognises the “outstanding universal value” of the Murujuga Cultural Landscape. This value lies in the traditional system governing it, in tangible and intangible attributes that attest to 50,000 years of Ngarda-Ngarli using and caring for the land and seascape.

    The Ngarda-Ngarli have campaigned for World Heritage Listing of the Murujuga Cultural Landscape for more than 20 years.

    Murujuga Board and Circle of Elders members in Sydney at the ICOMOS General Assembly, where they hosted a Symposium on the Cultural Landscape nomination.
    Jo McDonald, CC BY-SA

    A controversial nomination

    While the outstanding universal values of this place were not in question, the nomination became mired with broader climate concerns.

    Industrial development began at Murujuga in the 1950s and was established before Traditional Owners had decision-making authority. The Dampier Archipelago, as well as housing petroglyphs across 42 islands, is also home to one of the largest industrial hubs in the southern hemisphere.

    The recent approval for the North-West Gas Hub has elevated climate change concerns and raised questions about whether the government is serious about protecting Murujuga.

    The Murujuga Rock Art Monitoring Program (MRAMP) year two report was released around the same time as the north west gas hub announcement.

    While acidic pollution has been suggested by some, our work on the monitoring program found rain and dust at the site was pH neutral, and there is no acid rain impacting on the petroglyphs.

    Other criticism included that the air quality at the site is compromised by local gas production. The research found the air quality at Murujuga is “good” to “very good” by international standards. We also found average annual nitrogen dioxide levels − the emission under most scrutiny − is five times lower than World Health Organisation guidelines.

    According to MRAMP research, Murujuga’s air quality is well within national standards. Nitrogen dioxide is 16 times lower than the national standard, and sulphur dioxide never exceeding 10% of the national standard.

    Importantly, the research program is ongoing and will transition to monitoring led by the Ngarda-Ngarli with support and training from the scientists. And this ongoing monitoring will be part of the management regime in place to protect Murujuga as a world heritage listed site.

    The MRAMP monitoring team in action at Murujuga.
    Ben Mullins, CC BY-SA

    Ngard-Ngarli leadership

    Traditional Owners and Custodians led the world heritage nomination, supported by State and Commonwealth governments.

    Traditional Owners consider the listing will better protect Ngarda-Ngarli knowledge, lore and culture as expressed through the landscape and in the petroglyphs.

    World heritage recognition will support Ngarda-Ngarli decision-making and ongoing management across the Murujuga Cultural Landscape.

    This global recognition is a mechanism to help Ngarda-Ngarli do what they have always done: protect their culture and decide what is right for Country for future generations.

    The inscription is a testament to the old people who started this quest decades ago, many of whom have not lived to celebrate this victory.

    The Australian delegation on the floor of UNESCO during the inscription session.
    Jo McDonald, CC BY

    Australia’s deep time heritage

    Australia now has two places on the World Heritage List which are exclusively listed as Indigenous sites of outstanding universal value to all humanity.

    The Murujuga Cultural Landscape joins on the list the southwestern Victorian site Budj Bim, one of the world’s most extensive and oldest aquaculture systems.

    Murujuga Aboriginal Custodians celebrate the Word Heritage listing decision in Paris this week.
    Jo McDonald, CC BY

    By this listing, the world has recognised the deep time creative genius and ongoing connection of Ngarda-Ngarli to the Murujuga Cultural Landscape.

    This international acclaim recognises the extraordinary resilience of Australia’s First Nations peoples and should be a source of pride and celebration for all Australians.

    Jo McDonald is an employee of the University of Western Australia and receives funding from the Australian Research Council.The Centre for Rock Art Research and Management receives funding for its research and training operations from Rio Tinto. Jo was a member of the World Heritage committee and contributed to the writing of the dossier.

    Amy Stevens is an employee of Murujuga Aboriginal Corporation, which receives funding from the Australian Government, the WA Government and industry and was a lead author on the Murujuga Cultural Landscape World Heritage nomination.

    Belinda Churnside serves as Deputy Chair. Board Directors are remunerated for their duties in accordance with community-approved sitting fees. These payments are made from MAC’s operational income.

    MAC receives funding support for a range of projects from both State and Federal government departments, as well as from industry partners operating within the Burrup and Maitland Industrial Estate Agreement (BMIEA) area.

    The Department of Water and Environmental Regulation provides operational and strategic support for the Murujuga Rock Art Monitoring Program. The Department of Biodiversity, Conservation and Attractions funds MAC’s National Park Ranger Team, while other funding bodies contribute to the Murujuga Land and Sea Unit Rangers.

    All funding sources and expenditures are transparently reported in MAC’s annual financial report, which is audited each year by an independent external auditor.

    Ben Mullins is the lead scientist on the Murujuga Rock Art Monitoring Project, which is funded by the Government of Western Australia.

    Peter Hicks is the Chair of the Board of Murujuga Aboriginal Corporation (MAC). Board Directors are remunerated for their duties in accordance with community-approved sitting fees. These payments are made from MAC’s operational income.

    MAC receives funding support for a range of projects from both State and Federal government departments, as well as from industry partners operating within the Burrup and Maitland Industrial Estate Agreement (BMIEA) area.

    The Department of Water and Environmental Regulation provides operational and strategic support for the Murujuga Rock Art Monitoring Program. The Department of Biodiversity, Conservation and Attractions funds MAC’s National Park Ranger Team, while other funding bodies contribute to the Murujuga Land and Sea Unit Rangers.

    All funding sources and expenditures are transparently reported in MAC’s annual financial report, which is audited each year by an independent external auditor.

    Terry Bailey is a World Heritage advisor to Murujuga Aboriginal Corporation and WA Government and was lead editor and co-author of Murujuga Cultural Landscape World Heritage nomination. His appointment is funded by the WA Government.

    – ref. We were part of the world heritage listing of Murujuga. Here’s why all Australians should be proud – https://theconversation.com/we-were-part-of-the-world-heritage-listing-of-murujuga-heres-why-all-australians-should-be-proud-261066

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Great Southern Bancorp, Inc. Reports Preliminary Second Quarter Earnings of $1.72 Per Diluted Common Share

    Source: GlobeNewswire (MIL-OSI)

    SPRINGFIELD, Mo., July 16, 2025 (GLOBE NEWSWIRE) — Great Southern Bancorp, Inc. (the “Company”) (NASDAQ:GSBC), the holding company for Great Southern Bank (the “Bank”), today reported that preliminary earnings for the three months ended June 30, 2025, were $1.72 per diluted common share ($19.8 million net income) compared to $1.45 per diluted common share ($17.0 million net income) for the three months ended June 30, 2024.

    For the quarter ended June 30, 2025, annualized return on average common equity was 12.81%, annualized return on average assets was 1.34%, and annualized net interest margin was 3.68%, compared to 12.03%, 1.17% and 3.43%, respectively, for the quarter ended June 30, 2024.

    Second Quarter 2025 Key Results:

    • Net Interest Income: Net interest income for the second quarter of 2025 increased $4.2 million (or approximately 8.9%) to $51.0 million compared to $46.8 million for the second quarter of 2024, largely driven by lower interest expense on deposit accounts and other borrowings. Annualized net interest margin was 3.68% for the quarter ended June 30, 2025, compared to 3.43% for the quarter ended June 30, 2024, and 3.57% for the quarter ended March 31, 2025. During the quarter ended June 30, 2025, the Company recorded $434,000 of interest income related to recoveries on non-accrual loans and other cash-basis assets, positively affecting net interest income and net interest margin.
    • Asset Quality: Non-performing assets and potential problem loans totaled $15.3 million at June 30, 2025, a decrease of $1.3 million from $16.6 million at December 31, 2024. At June 30, 2025, non-performing assets were $8.1 million (0.14% of total assets), a decrease of $1.5 million from $9.6 million (0.16% of total assets) at December 31, 2024.
    • Liquidity: The Company had secured borrowing line availability at the FHLBank and Federal Reserve Bank of $1.22 billion and $338.9 million, respectively, at June 30, 2025. In addition, at June 30, 2025, the Company had unpledged securities with a market value totaling $349.3 million, which could be pledged as collateral for additional borrowing capacity at either the FHLBank or Federal Reserve Bank.
    • Capital: The Company’s capital position remained strong as of June 30, 2025, significantly exceeding the thresholds established by regulators. On a preliminary basis, as of June 30, 2025, the Company’s Tier 1 Leverage Ratio was 11.5%, Common Equity Tier 1 Capital Ratio was 13.0%, Tier 1 Capital Ratio was 13.5%, and Total Capital Ratio was 14.7%. The Company’s tangible common equity to tangible assets ratio was 10.5% at June 30, 2025. In June 2025, the Company redeemed at par all of its outstanding subordinated notes, which had an aggregate principal amount of $75.0 million.
    • Significant Item Impacting Non-Interest Income: In the quarter ended June 30, 2025, the Company recorded income of $1.1 million related to exits from, and other activities of, its investments in tax credit partnerships. This was an unusually large amount for the Company, but this type of income occurs from time to time. We cannot, however, anticipate the amount or timing of this income with certainty.

    Selected Financial Data:

      Three Months Ended
        June 30,     June 30,   March 31,
        2025     2024     2025
        (Dollars in thousands, except per share data)
                           
    Net interest income $ 50,963     $ 46,818     $ 49,334  
    Provision (credit) for credit losses on loans and unfunded commitments   (110 )     (607 )     (348 )
    Non-interest income   8,212       9,833       6,590  
    Non-interest expense   35,005       36,409       34,822  
    Provision for income taxes   4,494       3,861       4,290  
                     
    Net income $ 19,786     $ 16,988     $ 17,160  
                     
    Earnings per diluted common share $ 1.72     $ 1.45     $ 1.47  
                           

    Joseph W. Turner, President and CEO of Great Southern, commented, “The second quarter was marked by continued execution of our strategy to maintain core banking fundamentals, drive earnings, and improve tangible book value per share. Our core credit and operating metrics remained sound, with solid quarterly profitability driven by steady margins, ongoing disciplined expense control, and continued strong credit quality. We reported net income of $19.8 million, or $1.72 per diluted common share, for the second quarter of 2025, compared to $17.0 million, or $1.45 per diluted common share, in the same period last year. The increase in net income compared to the prior year quarter reflects strong growth in net interest income, which rose $4.2 million, or 8.9%, largely due to lower interest expense on deposit accounts and borrowings. The second quarter of 2025 and 2024 each had significant unusual or non-recurring items included in non-interest income, which are noted elsewhere in this earnings release. Non-interest expense also decreased from the year-ago quarter due to significant legal and professional fees recorded in 2024.”

    Turner noted, “Despite lingering external economic pressures, our core operations continued to perform well. Total interest income for the second quarter of 2025 was $81.0 million, reflecting stable yields on loans and investment securities. Net interest income for the quarter increased to $51.0 million, supported by our continued disciplined asset-liability management and lower deposit interest costs, despite competitive pressures. We also saw stability in our core non-time deposit balances, reflecting the strength of customer relationships and the enduring value of our franchise.”

    Turner added, “Our balance sheet remains well positioned, with total assets of approximately $5.85 billion at June 30, 2025, and a loan portfolio that reflects a balanced approach to growth and risk management, as we serve our constituent markets. We emphasize prudent lending practices through our relationship-based lending resulting in strong credit quality. Given our emphasis on balancing loan growth with appropriate pricing and loan structure, we saw a $156 million net loan reduction in the quarter, which included a $30 million loan payoff at the end of the quarter. Large loan payoffs tend to fluctuate, but we did experience a higher level of such payoffs in the second quarter of 2025. Our allowance for credit losses stood at $64.8 million at June 30, 2025, representing 1.41% of total loans. Our non-performing assets decreased $1.5 million from both March 31, 2025, and December 31, 2024, to $8.1 million, or 0.14% of total assets, highlighting our prudent underwriting standards and ongoing credit monitoring.”

    Turner further noted, “On the expense side, we remain focused on operating discipline. Non-interest expense totaled $35.0 million for the second quarter of 2025, an improvement of $1.4 million from the prior-year second quarter, with reductions in legal and professional fees and expense on other real estate owned, partially offset by modest increases in technology investments. Non-interest income totaled $8.2 million for the second quarter of 2025, which did include some significant unusual income as we’ve noted.”

    Turner continued, “As we look ahead, our priorities remain consistent: control costs, safeguard credit quality, and optimize our funding mix to enable continued growth and long-term financial stability. At June 30, 2025, our capital and liquidity positions were solid, with a tangible common equity ratio of 10.5% and approximately $2.2 billion of secured available lines and on-balance sheet liquid assets, providing us with the capital and liquidity we need to support customers, pursue strategic growth opportunities, and continue returning value to shareholders through dividends and share repurchases. In the second quarter of 2025 we repurchased nearly 176,000 shares of our common stock. In June 2025, we redeemed all of the Company’s outstanding 5.50% fixed-to-floating rate subordinated notes, with an aggregate principal balance of $75 million, in advance of a step up in rate, thereby avoiding a significant increase in interest cost.”

    “Great Southern’s second-quarter 2025 results demonstrate the strength and consistency of our business model and our ability to deliver sustainable returns, supported by strong customer relationships and disciplined management. Our focus on long-term value creation is steadfast as our team works daily to meet the needs of our customers, communities and shareholders,” Turner concluded.

    NET INTEREST INCOME

      Three Months Ended
        June 30,     June 30,   March 31,
        2025     2024   2025
        (Dollars in thousands)
    Interest Income $ 80,975     $ 80,927     $ 80,243  
    Interest Expense   30,012       34,109       30,909  
                           
    Net Interest Income $ 50,963     $ 46,818     $ 49,334  
                     
    Net interest margin   3.68 %     3.43 %     3.57 %
    Average interest-earning assets to average interest-bearing liabilities   126.9 %     126.7 %     125.5 %
                           

    Net interest income for the second quarter of 2025 increased $4.2 million to $51.0 million, compared to $46.8 million for the second quarter of 2024. This increase in net interest income was driven primarily by higher investment interest income and improved overall yields, as well as the strategic management of maturing/repricing brokered deposits and interest-bearing demand deposits to reduce interest expense. Net interest margin was 3.68% in the second quarter of 2025, compared to 3.43% in the same period of 2024 and 3.57% in the first quarter of 2025. Compared to the 2024 second quarter, the average yield on loans decreased 11 basis points, the average yield on investment securities increased 27 basis points and the average yield on other interest earning assets decreased 101 basis points. The average rate paid on interest-bearing demand and savings deposits, time deposits and brokered deposits decreased 36 basis points, 63 basis points and 74 basis points, respectively, in the three months ended June 30, 2025 compared to the three months ended June 30, 2024. The average interest rate spread was 3.09% for the three months ended June 30, 2025, compared to 2.77% for the three months ended June 30, 2024 and 3.00% for the three months ended March 31, 2025.

    Net interest margin was positively impacted by the receipt of interest income which had not been accrued for, as outlined above, under “Second Quarter 2025 Key Results – Net Interest Income.” This additional interest income contributed three basis points to net interest margin in the second quarter of 2025. While we currently believe that interest income recoveries such as this may occur in future periods, we cannot anticipate the amount or timing of this income with certainty.

    The average rate paid on total interest-bearing liabilities decreased from 3.17% in the 2024 second quarter to 2.75% in the 2025 second quarter. The average rates paid on deposits and borrowings decreased compared to the prior-year second quarter as market interest rates, primarily the federal funds rate and SOFR rates, declined in the fourth quarter of 2024. Yields on the Company’s portfolio of investment securities increased compared to the prior-year second quarter due to higher-yielding securities purchased in the second quarter of 2024. While market interest rates decreased compared to the second quarter of 2024, the average yield on loans only decreased slightly as cash flows from lower-rate fixed rate loans were redeployed into loans with comparably higher rates of interest.

    To mitigate exposure to the risk of fluctuations in future cash flows resulting from changes in interest rates (primarily related to falling interest rates), the Company has, from time to time, strategically utilized derivative financial instruments, primarily interest rate swaps, as part of its interest rate risk management strategy.

    The following table presents, for the periods indicated, the effect of cash flow hedge accounting included in interest income in the consolidated statements of income:

      Three Months Ended
        June 30,     June 30,   March 31,
        2025     2024   2025
        (In thousands)
    Terminated interest rate swaps $ 2,025     $ 2,025     $ 2,003  
    Active interest rate swaps   (1,757 )     (2,769 )     (1,742 )
                           
    Increase (decrease) to interest income $ 268     $ (744 )   $ 261  
                           

    The Company entered into an interest rate swap in October 2018, which was terminated in March 2020. Upon termination, the Company received $45.9 million, inclusive of accrued but unpaid interest, from its swap counterparty. The net amount, after deducting accrued interest and deferred income taxes, is being accreted to interest income on loans monthly until the originally scheduled termination date of October 6, 2025. After this date, the Company will no longer have the benefit of that income from the terminated swap. The Company anticipates recording approximately $2.0 million in interest income from the terminated swap in the third quarter of 2025, after which no further interest income will be realized.

    The Company’s net interest income in the second quarter of 2025 increased 8.9% compared to net interest income in the second quarter of 2024. The cost of deposits has been negatively impacted over several quarters by the high level of competition for deposits across the industry and the lingering effects of liquidity events at several banks in March and April 2023. After the second quarter of 2023, the Company had a significant amount of time deposits maturing at relatively low interest rates. These deposits were either renewed at higher rates or withdrawn, requiring the Company to replace the withdrawn deposits with other funding sources at then-current market rates. Market rates for time deposits for much of 2024 remained elevated, but have declined as the FOMC cut the federal funds rate by 100 basis points in late 2024 and signaled that further rate cuts may occur in late 2025. As of June 30, 2025, time deposit maturities over the next 12 months were as follows: within three months — $696 million, with a weighted-average rate of 3.93%; within three to six months — $460 million, with a weighted-average rate of 3.83%; and within six to twelve months — $124 million, with a weighted-average rate of 3.37%. Based on time deposit market rates in June 2025, replacement rates for these maturing time deposits are likely to be approximately 3.35-3.85%.

    NON-INTEREST INCOME

    For the quarter ended June 30, 2025, non-interest income decreased $1.6 million to $8.2 million when compared to the quarter ended June 30, 2024, primarily as a result of the following items:

    • Other income: Other income decreased $1.6 million compared to the prior-year quarter. In the second quarter of 2024, the Company recorded $2.7 million of other income, net of expenses and write-offs, related to the termination of the master agreement between the Company and a third-party software vendor for the intended conversion of the Company’s core banking platform. Separately, in the quarter ended June 30, 2025, the Company recorded income of $1.1 million related to exits from, and other activities of, its investments in tax credit partnerships.
    • Net gains on loan sales: Net gains on loan sales decreased $234,000 compared to the prior-year quarter. The decrease was due to a decrease in balance of fixed-rate single-family mortgage loans originated and sold during the 2025 period compared to the 2024 period. Fixed rate single-family mortgage loans originated are generally subsequently sold in the secondary market.
    • Late charges and fees on loans: Late charges and fees on loans increased $204,000 compared to the prior-year quarter. This increase was primarily due to prepayment fees on one large commercial real estate loan, which paid off in the 2025 quarter.

    NON-INTEREST EXPENSE

    For the quarter ended June 30, 2025, non-interest expense decreased $1.4 million to $35.0 million when compared to the quarter ended June 30, 2024, primarily as a result of the following items:

    • Legal, audit and other professional fees: Legal, audit and other professional fees decreased $935,000, or 50.2%, from the prior-year quarter, to $929,000. In the quarter ended June 30, 2024, the Company expensed a total of $902,000 related to training and implementation costs for the intended core systems conversion and professional fees to consultants engaged to support the Company’s proposed transition of core and ancillary software and information technology systems, compared to $46,000 in costs expensed in the quarter ended June 30, 2025.
    • Expense on other real estate owned: Expenses on other real estate owned decreased $453,000, or 158.9%, from the prior-year quarter. In the quarter ended June 30, 2025, the Company collected a total of $445,000 in rental income from other real estate owned, compared to $24,000 collected for the quarter ended June 30, 2024. The 2025 period included rental income from the $6.0 million office building asset that was added to other real estate owned in the fourth quarter of 2024. See “Asset Quality” below.
    • Other operating expenses: Other operating expenses decreased $444,000, or 17.3%, from the prior-year quarter. In the 2024 period, the Company recorded expenses totaling $600,000 related to the resolution of compliance matters, with no similar expenses recorded in the current-year quarter.
    • Net occupancy and equipment expenses: Net occupancy and equipment expenses increased $594,000, or 7.6%, from the prior-year quarter. Various components of computer license and support expenses related to upgrades of core systems capabilities collectively increased by $502,000 in the second quarter of 2025 compared to the second quarter of 2024.

    The Company’s efficiency ratio for the quarter ended June 30, 2025, was 59.16% compared to 64.27% for the same quarter in 2024. The Company’s ratio of non-interest expense to average assets was 2.37% for the three months ended June 30, 2025, compared to 2.50% for the three months ended June 30, 2024. Average assets for the three months ended June 30, 2025, increased $86.0 million, or 1.5%, compared to the three months ended June 30, 2024, primarily due to growth in average balances of net loans and investment securities.

    INCOME TAXES

    For each of the three months ended June 30, 2025 and 2024, the Company’s effective tax rate was 18.5%. For the six months ended June 30, 2025 and 2024, the Company’s effective tax rate was 19.2% and 18.8%, respectively. These effective rates were below the statutory federal tax rate of 21%, due primarily to the utilization of certain investment tax credits and the Company’s tax-exempt investments and tax-exempt loans, which reduced the Company’s effective tax rate. The Company’s effective tax rate may fluctuate in future periods as it is impacted by the level and timing of the Company’s utilization of tax credits, the level of tax-exempt investments and loans, the amount of taxable income in various state jurisdictions and the overall level of pre-tax income. State tax expense estimates continually evolve as taxable income and apportionment between states are analyzed. The Company currently expects its effective tax rate (combined federal and state) will be approximately 18.0% to 20.0% in future periods.

    CAPITAL

        June 30,   December 31,   March 31,
        2025   2024   2025
    Consolidated Regulatory Capital Ratios   (Preliminary)            
    Tier 1 Leverage Ratio   11.5 %   11.4 %   11.3 %
    Common Equity Tier 1 Capital Ratio   13.0 %   12.3 %   12.4 %
    Tier 1 Capital Ratio   13.5 %   12.8 %   12.9 %
    Total Capital Ratio   14.7 %   15.4 %   15.6 %
    Tangible Common Equity Ratio   10.5 %   9.9 %   10.1 %
                       

    As of June 30, 2025, total stockholders’ equity was $622.4 million, representing 10.6% of total assets and a book value of $54.61 per common share. This compares to total stockholders’ equity of $599.6 million, or 10.0% of total assets, and a book value of $51.14 per common share at December 31, 2024. The $22.8 million increase in stockholders’ equity from December 31, 2024, was primarily driven by $36.9 million in net income and a $2.0 million increase from stock option exercises, partially offset by $9.2 million in cash dividends declared on the Company’s common stock and $20.0 million in common stock repurchases.

    Decreased unrealized losses on the Company’s available-for-sale investment securities and interest rate swaps, which totaled $54.4 million (net of taxes) at December 31, 2024, also increased stockholders’ equity by $13.0 million during the first six months of 2025. These net unrealized losses primarily resulted from increased intermediate-term market interest rates in prior periods, which generally decreased the fair value of the investment securities and interest rate swaps. In the first six months of 2025, these market interest rates decreased, resulting in increases in the fair value of the Company’s investment securities and interest rate swaps.

    The Company had unrealized losses on its portfolio of held-to-maturity investment securities, which totaled $19.3 million and $24.7 million at June 30, 2025 and December 31, 2024, respectively, that were not included in its total capital balance. If held-to-maturity unrealized losses were included in capital (net of taxes) at June 30, 2025, they would have decreased total stockholder’s equity at that date by $14.6 million. This amount was equal to 2.3% of total stockholders’ equity of $622.4 million at June 30, 2025, compared to 3.1% of total stockholders’ equity at December 31, 2024.

    On June 15, 2025, the Company redeemed all of its outstanding 5.50% fixed-to-floating rate subordinated notes due June 15, 2030, with an aggregate principal balance of $75 million. The total redemption price was 100% of the aggregate principal balance of the subordinated notes plus accrued and unpaid interest. The Company utilized excess cash on hand for the redemption payment.

    In November 2022, the Company’s Board of Directors authorized the purchase of up to one million shares of the Company’s common stock. As of June 30, 2025, approximately 94,000 shares remained available under this stock repurchase authorization.

    In April 2025, the Company’s Board of Directors approved a new stock repurchase program, which will succeed the existing repurchase program (authorized in November 2022) following the repurchase of the existing program’s remaining available shares. The new stock repurchase program authorizes the purchase, from time to time, of up to one million additional shares of the Company’s common stock.

    During the three months ended June 30, 2025, the Company repurchased 175,998 shares of its common stock at an average price of $55.11, and the Company’s Board of Directors declared a regular quarterly cash dividend of $0.40 per common share, which, combined, reduced stockholders’ equity by $14.4 million.

    During the six months ended June 30, 2025, the Company repurchased 349,342 shares of its common stock at an average price of $56.73, and the Company’s Board of Directors declared regular quarterly cash dividends totaling $0.80 per common share, which, combined, reduced stockholders’ equity by $29.2 million.

    LIQUIDITY AND DEPOSITS

    Liquidity is a measure of the Company’s ability to generate sufficient cash to meet present and future financial obligations in a timely manner. The Company’s primary sources of funds are customer deposits, FHLBank advances, other borrowings, loan repayments, unpledged securities, proceeds from sales of loans and available-for-sale securities and funds provided from operations. The Company utilizes some or all of these sources of funds depending on the comparative costs and availability at the time. The Company has from time to time chosen not to pay rates on deposits as high as the rates paid by certain of its competitors and, when believed to be appropriate, supplements deposits with less expensive alternative sources of funds. Management believes that the Company maintains overall liquidity sufficient to satisfy its depositors’ requirements and meet its borrowers’ credit needs.

    At June 30, 2025, the Company had the following available secured lines and on-balance sheet liquidity:

        June 30, 2025
    Federal Home Loan Bank line     $1,216.1 million
    Federal Reserve Bank line     338.9 million
    Cash and cash equivalents     245.9 million
    Unpledged securities – Available-for-sale     325.3 million
    Unpledged securities – Held-to-maturity     24.0 million
           

    During the six months ended June 30, 2025, the Company’s total deposits increased $78.6 million. Interest-bearing checking balances increased $18.5 million (0.8%), primarily in certain money market accounts, and non-interest-bearing checking balances increased $17.0 million (2.0%). Time deposits generated through the Company’s banking center and corporate services networks decreased $18.1 million (2.3%). Brokered deposits increased $61.2 million (7.9%) through a variety of sources. During the three months ended June 30, 2025, the Company’s total deposits decreased $73.9 million, with $62.1 million of this decrease in brokered deposits.

    At June 30, 2025, the Company had the following deposit balances:

           June 30, 2025
    Interest-bearing checking     $2,233.2 million
    Non-interest-bearing checking     859.9 million
    Time deposits     757.7 million
    Brokered deposits     833.3 million
           

    At June 30, 2025, the Company estimated that its uninsured deposits, excluding deposit accounts of the Company’s consolidated subsidiaries, were approximately $703.6 million (15% of total deposits).

    LOANS

    Total net loans, excluding mortgage loans held for sale, decreased $156.1 million, or 3.3%, from $4.69 billion at December 31, 2024 to $4.53 billion at June 30, 2025. This decrease was primarily driven by decreases in construction loans of $79.1 million, commercial real estate loans of $56.1 million, one- to four-family residential loans of $23.0 million and commercial business loans of $25.2 million, partially offset by an increase in other residential (multi-family) loans of $28.7 million. Compared to March 31, 2025, net loans decreased $156.4 million.

    The pipeline of the unfunded portion of loans and formal loan commitments remained strong, with the largest portion of these unfunded balances represented by the unfunded portion of outstanding construction loans ($626.0 million at June 30, 2025). See the table below.

    For additional details about the Company’s loan portfolio, please refer to the quarterly loan portfolio presentation available on the Company’s Investor Relations website under “Presentations.”

    Loan commitments and the unfunded portion of loans at the dates indicated were as follows (in thousands):

        June 30,
    2025    		     March 31,
    2025    		     December
    31, 2024    		     December
    31, 2023    		     December
    31, 2022    		  
    Closed non-construction loans with unused available lines                              
    Secured by real estate (one- to four-family) $ 211,453   $ 211,119   $ 205,599   $ 203,964   $ 199,182  
    Secured by real estate (not one- to four-family)   —     —     —     —     —  
    Not secured by real estate – commercial business   102,891     106,211     106,621     82,435     104,452  
                                   
    Closed construction loans with unused available lines                              
    Secured by real estate (one-to four-family)   96,935     96,807     94,501     101,545     100,669  
    Secured by real estate (not one-to four-family)   644,427     657,828     703,947     719,039     1,444,450  
                                   
    Loan commitments not closed                              
    Secured by real estate (one-to four-family)   17,148     19,264     14,373     12,347     16,819  
    Secured by real estate (not one-to four-family)   13,002     50,296     53,660     48,153     157,645  
    Not secured by real estate – commercial business   27,003     18,484     22,884     11,763     50,145  
                                   
      $ 1,112,859   $ 1,160,009   $ 1,201,585   $ 1,179,246   $ 2,073,362  
                                   

    PROVISION FOR CREDIT LOSSES AND ALLOWANCE FOR CREDIT LOSSES

    During the three months ended June 30, 2025 and 2024, the Company did not record a provision expense on its portfolio of outstanding loans. During the six months ended June 30, 2025, the Company did not record a provision expense on its portfolio of outstanding loans, compared to a provision expense of $500,000 in the same period in 2024. Total net recoveries were $111,000 for the three months ended June 30, 2025, compared to net recoveries of $168,000 during the same period in the prior year. Total net recoveries were $55,000 for the six months ended June 30, 2025, compared to net recoveries of $85,000 during the same period in the prior year. Additionally, for the quarter ended June 30, 2025, the Company recorded a negative provision for losses on unfunded commitments of $110,000, compared to a negative provision of $607,000 for the same period in 2024. For the six months ended June 30, 2025, the Company recorded a negative provision for losses on unfunded commitments of $458,000, compared to a negative provision of $477,000 for the same period in 2024.

    The Bank’s allowance for credit losses as a percentage of total loans was 1.41% at June 30, 2025, an increase from 1.36% at both December 31, 2024 and March 31, 2025. Management considers the allowance for credit losses adequate to cover losses inherent in the Bank’s loan portfolio at June 30, 2025, based on recent reviews of the portfolio and current economic conditions. However, if challenging economic conditions persist or worsen, or if management’s assessment of the loan portfolio changes, additional provisions for credit losses may be required, which could adversely impact the Company’s future financial performance.

    ASSET QUALITY

    At June 30, 2025, non-performing assets were $8.1 million, a decrease of $1.5 million from $9.6 million at December 31, 2024 and a decrease of $1.4 million from $9.5 million at March 31, 2025. Non-performing assets as a percentage of total assets were 0.14% at June 30, 2025, compared to 0.16% at both December 31, 2024 and March 31, 2025.

    Activity in the non-performing loan categories during the quarter ended June 30, 2025, was as follows:

        Beginning
    Balance,
    April 1    		   Additions
    to Non-
    Performing    		   Removed
    from Non-
    Performing    		   Transfers
    to Potential
    Problem
    Loans    		   Transfers to
    Foreclosed
    Assets and
    Repossessions    		   Charge-
    Offs    		   Payments   Ending
    Balance,
    June 30
        (In thousands)
                                     
    One- to four-family construction $ — $ — $ — $ — $ — $ — $ —   $ —
    Subdivision construction   —   —   —   —   —   —   —     —
    Land development   368   —   —   —   —   —   (368 )   —
    Commercial construction   —   —   —   —   —   —   —     —
    One- to four-family residential   3,076   154   —   —   —   —   (1,204 )   2,026
    Other residential (multi-family)   —   —   —   —   —   —   —     —
    Commercial real estate   —   —   —   —   —   —   —     —
    Commercial business   —   —   —   —   —   —   —     —
    Consumer   38   7   —   —   —   —   (27 )   18
    Total non-performing loans $ 3,482 $ 161 $ — $ — $ — $ — $ (1,599 ) $ 2,044
                                     
    • Compared to March 31, 2025, non-performing loans decreased $1.4 million.
    • The non-performing one- to four-family residential category consisted of eight loans at June 30, 2025, one of which was added during the current quarter.
    • The largest relationship in the one- to four-family residential category totaled $614,000 at June 30, 2025. This relationship was added to non-performing loans in 2024 and is collateralized by a single-family residential property in the Sarasota, Fla. area.
    • During the quarter ended June 30, 2025, one- to four-family residential loans experienced one loan pay-off totaling $884,000 and another related loan had a principal pay-down totaling $296,000. Additionally, the only loan in the non-performing land development category at the beginning of the quarter paid off.

    Activity in the potential problem loans categories during the quarter ended June 30, 2025, was as follows:

        Beginning
    Balance,
    April 1    		   Additions to
    Potential
    Problem    		   Removed
    from
    Potential
    Problem    		   Transfers
    to Non-
    Performing    		   Transfers to
    Foreclosed
    Assets and
    Repossessions    		   Charge-
    Offs    		   Loan Advances (Payments)   Ending
    Balance,
    June 30    		  
        (In thousands)
                                       
    One- to four-family construction $ — $ — $ —   $ — $ —   $ —   $ —   $ —  
    Subdivision construction   —   —   —     —   —     —     —     —  
    Land development   —   —   —     —   —     —     —     —  
    Commercial construction   —   —   —     —   —     —     —     —  
    One- to four-family residential   2,128   34   (307 )   —   —     —     (16 )   1,839  
    Other residential (multi-family)   —   —   —     —   —     —     —     —  
    Commercial real estate   4,313   —   —     —   —     —     (16 )   4,297  
    Commercial business   —   33   —     —   —     —     —     33  
    Consumer   1,011   50   —     —   (2 )   (11 )   (11 )   1,037  
    Total potential problem loans $ 7,452 $ 117 $ (307 ) $ — $ (2 ) $ (11 ) $ (43 ) $ 7,206  
                                       
    • Compared to March 31, 2025, potential problem loans decreased $246,000.
    • At June 30, 2025, the commercial real estate category consisted of three loans, all of which are part of one relationship and were added in 2024.
    • The commercial real estate relationship is collateralized by three nursing care facilities located in southwest Missouri. The borrower’s business cash flow was negatively impacted by a reduction in available labor and increased operating costs as well as ongoing changes to the Missouri Medicaid reimbursement rate. Monthly payments were timely made prior to the transfer to this category and have continued to be paid timely.
    • At June 30, 2025, the one- to four-family residential category consisted of ten loans, one of which was added to potential problem loans during the current quarter.
    • The largest relationship in the one- to four-family category, which was reclassified from the consumer category during the first quarter of 2025, totaled $963,000 and is collateralized by multiple single-family residential properties in Indiana and Florida.
    • At June 30, 2025, the consumer category of potential problem loans consisted of 14 loans, two of which were added during the current quarter.
    • The largest loan in the consumer category is a home equity loan totaling $784,000 related to the nursing care facility relationship, noted above.

    Activity in the foreclosed assets and repossessions categories during the quarter ended June 30, 2025 was as follows:

        Beginning
    Balance,
    April 1    		   Additions   ORE and
    Repossession
    Sales    		   Capitalized
    Costs    		   ORE and
    Repossession
    Write-Downs    		   Ending
    Balance,
    June 30
        (In thousands)
                             
    One-to four-family construction $ — $ — $ —   $ — $ — $ —
    Subdivision construction   —   —   —     —   —   —
    Land development   —   —   —     —   —   —
    Commercial construction   —   —   —     —   —   —
    One- to four-family residential   —   —   —     —   —   —
    Other residential (multi-family)   —   —   —     —   —   —
    Commercial real estate   6,036   —   —     —   —   6,036
    Commercial business   —   —   —     —   —   —
    Consumer   —   6   (2 )   —   —   4
    Total foreclosed assets and repossessions $ 6,036 $ 6 $ (2 ) $ — $ — $ 6,040
                             
    • Compared to March 31, 2025, foreclosed assets increased $4,000.
    • The commercial real estate category consisted of two foreclosed properties, one of which, totaling $76,000, was added during the first quarter of 2025.
    • The largest asset in the commercial real estate category, totaling $6.0 million, consisted of an office building located in Clayton, Mo. This asset was foreclosed upon in the fourth quarter of 2024.

    BUSINESS INITIATIVES

    Technology updates and advancements continue with the Company’s current core provider. Projects involving a full array of products and services are moving forward, with completions expected beginning in the third quarter of 2025 and continuing into 2026.

    The Company installed 10 ITM units in the St. Louis, Mo. market, replacing existing end-of-life ATM units. The ITMs, all located at banking center locations, offer customers live teller services, extended banking hours, and services beyond those traditionally available via an ATM.

    Construction of the Company’s new banking center at 723 N. Benton in Springfield, Mo., to replace the existing facility at that location, began in March 2025 and is on schedule for completion in the fourth quarter of 2025. The new facility, designed as a next-generation banking center, will allow for flexibility in testing new designs, processes, technology and tools, balanced with customer convenience. The Company has 11 other banking centers and an Express Center in Springfield.

    Earnings Conference Call

    The Company will host a conference call on Thursday, July 17, 2025, at 2:00 p.m. Central Time to discuss second quarter 2025 preliminary earnings. The call will be available live or in a recorded version at the Company’s Investor Relations website, http://investors.greatsouthernbank.com. Participants may register for the call at https://register-conf.media-server.com/register/BI5023532982f44a44b03e6e16deb1e937.

    About Great Southern Bancorp, Inc.

    Headquartered in Springfield, Missouri, Great Southern offers a broad range of banking services to customers. The Company operates 89 retail banking centers in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska and commercial lending offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix. The common stock of Great Southern Bancorp, Inc. is listed on the Nasdaq Global Select Market under the symbol “GSBC.”

    www.GreatSouthernBank.com

    Forward-Looking Statements

    When used in this press release and in other documents filed or furnished by the Company with or to the Securities and Exchange Commission (the “SEC”), in the Company’s other press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases “may,” “might,” “could,” “should,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “believe,” “estimate,” “project,” “intends” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements also include, but are not limited to, statements regarding plans, objectives, expectations or consequences of announced transactions, known trends and statements about future performance, operations, products and services of the Company. The Company’s ability to predict results or the actual effects of future plans or strategies is inherently uncertain, and the Company’s actual results could differ materially from those contained in the forward-looking statements.

    Factors that could cause or contribute to such differences include, but are not limited to: (i) expected revenues, cost savings, earnings accretion, synergies and other benefits from the Company’s merger and acquisition activities might not be realized within the anticipated time frames or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (ii) changes in economic conditions, either nationally or in the Company’s market areas; (iii) the effects of any new or continuing public health issues on general economic and financial market conditions; (iv) fluctuations in interest rates, the effects of inflation or a potential recession, whether caused by Federal Reserve actions or otherwise; (v) the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; (vi) slower or negative economic growth caused by tariffs, changes in energy prices, supply chain disruptions or other factors; (vii) the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; (viii) the possibility of realized or unrealized losses on securities held in the Company’s investment portfolio; (ix) the Company’s ability to access cost-effective funding and maintain sufficient liquidity; (x) fluctuations in real estate values and both residential and commercial real estate market conditions; (xi) the ability to adapt successfully to technological changes to meet customers’ needs and developments in the marketplace; (xii) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber-attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (xiii) legislative or regulatory changes that adversely affect the Company’s business; (xiv) changes in accounting policies and practices or accounting standards; (xv) results of examinations of the Company and the Bank by their regulators, including the possibility that the regulators may, among other things, require the Company to limit its business activities, change its business mix, increase its allowance for credit losses, write-down assets or increase its capital levels, or affect its ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; (xvi) costs and effects of litigation, including settlements and judgments; (xvii) competition; and (xviii) natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates. The Company wishes to advise readers that the factors listed above and other risks described in the Company’s most recent Annual Report on Form 10-K, including, without limitation, those described under “Item 1A. Risk Factors,” subsequent Quarterly Reports on Form 10-Q and other documents filed or furnished from time to time by the Company with the SEC (which are available on our website at www.greatsouthernbank.com and the SEC’s website at www.sec.gov), could affect the Company’s financial performance and cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

    The Company does not undertake-and specifically declines any obligation- to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    The following tables set forth selected consolidated financial information of the Company at the dates and for the periods indicated. Financial data at all dates other than December 31, 2024, and for all periods is unaudited. In the opinion of management, all adjustments, which consist only of normal recurring accrual adjustments, necessary for a fair presentation of the results at and for such unaudited dates and periods have been included. The results of operations and other data for the three and six months ended June 30, 2025 and 2024, and the three months ended March 31, 2025, are not necessarily indicative of the results of operations which may be expected for any future period.

        June 30,
    		     December 31,
        2025
    		     2024
    Selected Financial Condition Data:   (In thousands)
                   
    Total assets $ 5,854,672     $ 5,981,628  
    Loans receivable, gross   4,604,943       4,761,848  
    Allowance for credit losses   64,815       64,760  
    Other real estate owned, net   6,040       5,993  
    Available-for-sale securities, at fair value   527,543       533,373  
    Held-to-maturity securities, at amortized cost   183,100       187,433  
    Deposits   4,684,126       4,605,549  
    Total borrowings   450,483       679,341  
    Total stockholders’ equity   622,368       599,568  
    Non-performing assets   8,084       9,566  
                   
        Three Months Ended     Six Months Ended     Three Months
    Ended
        June 30,     June 30,     March 31,
        2025     2024     2025     2024
    		     2025
        (In thousands)
    Selected Operating Data:                              
    Interest income $ 80,975     $ 80,927     $ 161,218     $ 158,317     $ 80,243  
    Interest expense   30,012       34,109       60,921       66,683       30,909  
    Net interest income   50,963       46,818       100,297       91,634       49,334  
    Provision (credit) for credit losses on loans and unfunded commitments   (110 )     (607 )     (458 )     23       (348 )
    Non-interest income   8,212       9,833       14,802       16,639       6,590  
    Non-interest expense   35,005       36,409       69,827       70,831       34,822  
    Provision for income taxes   4,494       3,861       8,784       7,024       4,290  
    Net income $ 19,786     $ 16,988     $ 36,946     $ 30,395     $ 17,160  
                                   
      At or For the Three
    Months Ended    		   At or For the Six
    Months Ended    		   At or For the Three
    Months Ended
      June 30,   June 30,   March 31,
      2025   2024   2025   2024   2025
      (Dollars in thousands, except per share data)
    Per Common Share:              
    Net income (fully diluted) $ 1.72     $ 1.45     $ 3.18     $ 2.58     $ 1.47  
    Book value $ 54.61     $ 49.11     $ 54.61     $ 49.11     $ 53.03  
                   
    Earnings Performance Ratios:              
    Annualized return on average assets   1.34 %     1.17 %     1.24 %     1.05 %     1.15 %
    Annualized return on average common stockholders’ equity   12.81 %     12.03 %     12.06 %     10.69 %     11.30 %
    Net interest margin   3.68 %     3.43 %     3.63 %     3.38 %     3.57 %
    Average interest rate spread   3.09 %     2.77 %     3.05 %     2.71 %     3.00 %
    Efficiency ratio   59.16 %     64.27 %     60.67 %     65.42 %     62.27 %
    Non-interest expense to average total assets   2.37 %     2.50 %     2.35 %     2.44 %     2.34 %
                   
    Asset Quality Ratios:              
    Allowance for credit losses to period-end loans   1.41 %     1.39 %     1.41 %     1.39 %     1.36 %
    Non-performing assets to period-end assets   0.14 %     0.34 %     0.14 %     0.34 %     0.16 %
    Non-performing loans to period-end loans   0.04 %     0.23 %     0.04 %     0.23 %     0.07 %
    Annualized net charge-offs (recoveries) to average loans   (0.01 )%     (0.01 )%     0.00 %     0.00 %     0.00 %
                   
     
    Great Southern Bancorp, Inc. and Subsidiaries
    Consolidated Statements of Financial Condition
    (In thousands, except number of shares)
                 
        June 30,
    2025    		   December 31,
    2024    		   March 31,
    2025
                 
    Assets            
    Cash $ 110,007   $ 109,366   $ 106,336  
    Interest-bearing deposits in other financial institutions   135,906     86,390     110,845  
    Cash and cash equivalents   245,913     195,756     217,181  
                 
    Available-for-sale securities   527,543     533,373     535,914  
    Held-to-maturity securities   183,100     187,433     185,853  
    Mortgage loans held for sale   5,616     6,937     6,857  
    Loans receivable, net of allowance for credit losses of $64,815 – June 2025; $64,760 – December 2024; $64,704 – March 2025   4,534,287     4,690,393     4,690,636  
    Interest receivable   20,644     20,430     21,504  
    Prepaid expenses and other assets   133,614     136,594     132,930  
    Other real estate owned and repossessions, net   6,040     5,993     6,036  
    Premises and equipment, net   134,337     132,466     132,165  
    Goodwill and other intangible assets   9,877     10,094     9,985  
    Federal Home Loan Bank stock and other interest-earning assets   23,714     28,392     25,813  
    Current and deferred income taxes   29,987     33,767     28,968  
                 
    Total Assets $ 5,854,672   $ 5,981,628   $ 5,993,842  
                 
    Liabilities and Stockholders’ Equity            
    Liabilities            
    Deposits $ 4,684,126   $ 4,605,549   $ 4,758,046  
    Securities sold under reverse repurchase agreements with customers   54,802     64,444     75,322  
    Short-term borrowings   369,907     514,247     359,907  
    Subordinated debentures issued to capital trust   25,774     25,774     25,774  
    Subordinated notes   —     74,876     74,950  
    Accrued interest payable   4,065     12,761     5,416  
    Advances from borrowers for taxes and insurance   8,822     5,272     7,451  
    Accounts payable and accrued expenses   76,763     70,634     65,528  
    Liability for unfunded commitments   8,045     8,503     8,155  
    Total Liabilities   5,232,304     5,382,060     5,380,549  
                 
    Stockholders’ Equity            
    Capital stock            
    Preferred stock, $.01 par value; authorized 1,000,000 shares; issued and outstanding June 2025, December 2024 and March 2025 -0- shares   —     —     —  
    Common stock, $.01 par value; authorized 20,000,000 shares; issued and outstanding June 2025 – 11,396,533 shares; December 2024 – 11,723,548 shares; March 2025 – 11,565,211 shares   114     117     116  
    Additional paid-in capital   51,646     50,336     51,076  
    Retained earnings   611,921     603,477     606,239  
    Accumulated other comprehensive loss   (41,313 )   (54,362 )   (44,138 )
    Total Stockholders’ Equity   622,368     599,568     613,293  
                 
    Total Liabilities and Stockholders’ Equity $ 5,854,672   $ 5,981,628   $ 5,993,842  
                       
     
    Great Southern Bancorp, Inc. and Subsidiaries
    Consolidated Statements of Income
    (In thousands, except per share data)
                   
        Three Months Ended     Six Months Ended   Three Months Ended
        June 30,     June 30,   March 31,
        2025     2024     2025     2024     2025
    Interest Income                            
    Loans $ 73,830     $ 74,295     $ 146,901     $ 145,371     $ 73,071  
    Investment securities and other   7,145       6,632       14,317       12,946       7,172  
        80,975       80,927       161,218       158,317       80,243  
    Interest Expense                            
    Deposits   24,368       27,783       48,968       55,420       24,600  
    Securities sold under reverse repurchase agreements   372       394       743       727       371  
    Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities   3,974       4,373       8,424       7,417       4,450  
    Subordinated debentures issued to capital trust   389       454       771       908       382  
    Subordinated notes   909       1,105       2,015       2,211       1,106  
        30,012       34,109       60,921       66,683       30,909  
                                 
    Net Interest Income   50,963       46,818       100,297       91,634       49,334  
    Provision for Credit Losses on Loans   —       —       —       500       —  
    Provision (Credit) for Unfunded Commitments   (110 )     (607 )     (458 )     (477 )     (348 )
    Net Interest Income After Provision for Credit Losses and Provision (Credit) for Unfunded Commitments   51,073       47,425       100,755       91,611       49,682  
                                 
    Non-interest Income                            
    Commissions   411       269       673       650       262  
    Overdraft and Insufficient funds fees   1,266       1,230       2,481       2,519       1,215  
    POS and ATM fee income and service charges   3,444       3,588       6,678       6,771       3,234  
    Net gains on loan sales   893       1,127       1,494       1,804       601  
    Late charges and fees on loans   340       136       583       303       243  
    Gain (loss) on derivative interest rate products   (28 )     (7 )     (52 )     (20 )     (24 )
    Other income   1,886       3,490       2,945       4,612       1,059  
        8,212       9,833       14,802       16,639       6,590  
                                 
    Non-interest Expense                            
    Salaries and employee benefits   20,005       19,886       40,134       39,542       20,129  
    Net occupancy and equipment expense   8,435       7,841       16,968       15,680       8,533  
    Postage   825       777       1,756       1,584       931  
    Insurance   1,095       1,263       2,260       2,407       1,165  
    Advertising   705       891       995       1,241       290  
    Office supplies and printing   238       236       504       503       266  
    Telephone   705       685       1,411       1,406       706  
    Legal, audit and other professional fees   929       1,864       1,967       3,589       1,038  
    Expense (income) on other real estate and repossessions   (168 )     285       (238 )     346       (70 )
    Acquired intangible asset amortization   108       109       216       217       108  
    Other operating expenses   2,128       2,572       3,854       4,316       1,726  
        35,005       36,409       69,827       70,831       34,822  
                                 
    Income Before Income Taxes   24,280       20,849       45,730       37,419       21,450  
    Provision for Income Taxes   4,494       3,861       8,784       7,024       4,290  
                                 
    Net Income $ 19,786     $ 16,988     $ 36,946     $ 30,395     $ 17,160  
                                 
    Earnings Per Common Share                            
    Basic $ 1.73     $ 1.46     $ 3.20     $ 2.60     $ 1.47  
    Diluted $ 1.72     $ 1.45     $ 3.18     $ 2.58     $ 1.47  
                                 
    Dividends Declared Per Common Share $ 0.40     $ 0.40     $ 0.80     $ 0.80     $ 0.40  
                                 
     
    Average Balances, Interest Rates and Yields
     

    The following table presents, for the periods indicated, the total dollar amounts of interest income from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Average balances of loans receivable include the average balances of nonaccrual loans for each period. Interest income on loans includes interest received on nonaccrual loans on a cash basis. Interest income on loans also includes the amortization of net loan fees, which were deferred in accordance with accounting standards. Net fees included in interest income were $1.1 million for both the three months ended June 30, 2025 and 2024. Net fees included in interest income were $2.1 million and $2.3 million for the six months ended June 30, 2025 and 2024, respectively. Tax-exempt income was not calculated on a tax equivalent basis. The table does not reflect any effect of income taxes.

      June 30, 2025       Three Months Ended
    June 30, 2025    		   Three Months Ended
    June 30, 2024    		  
              Average         Yield/       Average         Yield/  
      Yield/Rate       Balance     Interest   Rate       Balance     Interest   Rate  
      (Dollars in thousands)  
    Interest-earning assets:                                        
    Loans receivable:                                        
    One- to four-family residential 4.24 %   $ 822,283   $ 8,750   4.27 %   $ 877,957   $ 8,769   4.02 %
    Other residential 6.91       1,565,447     27,281   6.99       1,072,168     19,633   7.36  
    Commercial real estate 6.19       1,489,015     23,082   6.22       1,499,893     23,296   6.25  
    Construction 7.07       480,254     8,617   7.20       803,478     15,525   7.77  
    Commercial business 5.93       208,119     3,517   6.78       266,187     4,375   6.61  
    Other loans 6.39       167,548     2,583   6.18       170,467     2,697   6.36  
                                             
    Total loans receivable 6.16       4,732,666     73,830   6.26       4,690,150     74,295   6.37  
                                             
    Investment securities 3.17       727,336     6,099   3.36       696,239     5,347   3.09  
    Other interest-earning assets 4.37       97,463     1,046   4.30       97,340     1,285   5.31  
                                             
    Total interest-earning assets 5.74       5,557,465     80,975   5.84       5,483,729     80,927   5.94  
    Non-interest-earning assets:                                        
    Cash and cash equivalents         100,289                 94,669            
    Other non-earning assets         256,923                 250,244            
    Total assets       $ 5,914,677               $ 5,828,642            
                                             
    Interest-bearing liabilities:                                        
    Interest-bearing demand and savings 1.41     $ 2,225,933     7,791   1.40     $ 2,234,824     9,794   1.76  
    Time deposits 3.42       757,608     6,521   3.45       894,475     9,073   4.08  
    Brokered deposits 4.44       895,340     10,056   4.50       683,337     8,916   5.25  
    Total deposits 2.47       3,878,881     24,368   2.52       3,812,636     27,783   2.93  
    Securities sold under reverse repurchase agreements 2.33       65,607     372   2.27       76,969     394   2.06  
    Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities 4.55       347,303     3,974   4.59       339,270     4,373   5.18  
    Subordinated debentures issued to capital trust 6.14       25,774     389   6.05       25,774     454   7.08  
    Subordinated notes —       62,631     909   5.82       74,699     1,105   5.95  
                                             
    Total interest-bearing liabilities 2.66       4,380,196     30,012   2.75       4,329,348     34,109   3.17  
    Non-interest-bearing liabilities:                                        
    Demand deposits         849,862                 853,555            
    Other liabilities         66,585                 80,905            
    Total liabilities         5,296,643                 5,263,808            
    Stockholders’ equity         618,034                 564,834            
    Total liabilities and stockholders’ equity       $ 5,914,677               $ 5,828,642            
                                             
    Net interest income:             $ 50,963               $ 46,818      
    Interest rate spread 3.08 %               3.09 %               2.77 %
    Net interest margin*                   3.68 %               3.43 %
    Average interest-earning assets to average interest-bearing liabilities         126.9 %               126.7 %          
                                             

    *Defined as the Company’s net interest income divided by average total interest-earning assets.

      June 30, 2025       Six Months Ended
    June 30, 2025    		   Six Months Ended
    June 30, 2024    		  
              Average         Yield/       Average         Yield/  
      Yield/Rate       Balance     Interest   Rate       Balance     Interest   Rate  
      (Dollars in thousands)  
    Interest-earning assets:                                        
    Loans receivable:                                        
    One- to four-family residential 4.24 %   $ 826,426   $ 17,318   4.23 %   $ 883,963   $ 17,466   3.97 %
    Other residential 6.91       1,555,881     53,731   6.96       1,016,071     36,491   7.22  
    Commercial real estate 6.19       1,499,665     46,096   6.20       1,499,767     46,064   6.18  
    Construction 7.07       485,392     17,270   7.17       830,025     31,368   7.60  
    Commercial business 5.93       209,944     7,339   7.05       276,131     8,984   6.54  
    Other loans 6.39       166,989     5,147   6.22       172,051     4,998   5.84  
                                             
    Total loans receivable 6.16       4,744,297     146,901   6.24       4,678,008     145,371   6.25  
                                             
    Investment securities 3.17       732,699     12,173   3.35       682,960     10,357   3.05  
    Other interest-earning assets 4.37       101,238     2,144   4.27       98,922     2,589   5.26  
                                             
    Total interest-earning assets 5.74       5,578,234     161,218   5.83       5,459,890     158,317   5.83  
    Non-interest-earning assets:                                        
    Cash and cash equivalents         100,537                 92,572            
    Other non-earning assets         259,692                 243,029            
    Total assets       $ 5,938,463               $ 5,795,491            
                                             
    Interest-bearing liabilities:                                        
    Interest-bearing demand and savings 1.41     $ 2,223,716     15,588   1.41     $ 2,229,302     19,276   1.74  
    Time deposits 3.42       764,791     13,235   3.49       916,098     18,238   4.00  
    Brokered deposits 4.44       893,983     20,145   4.54       686,079     17,906   5.25  
    Total deposits 2.47       3,882,490     48,968   2.54       3,831,479     55,420   2.91  
    Securities sold under reverse repurchase agreements 2.33       73,957     743   2.03       75,718     727   1.93  
    Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities 4.55       369,849     8,424   4.59       290,431     7,417   5.14  
    Subordinated debentures issued to capital trust 6.14       25,774     771   6.03       25,774     908   7.08  
    Subordinated notes —       68,741     2,015   5.91       74,659     2,211   5.96  
                                             
    Total interest-bearing liabilities 2.66       4,420,811     60,921   2.78       4,298,061     66,683   3.12  
    Non-interest-bearing liabilities:                                        
    Demand deposits         835,888                 854,202            
    Other liabilities         68,961                 74,391            
    Total liabilities         5,325,660                 5,226,654            
    Stockholders’ equity         612,803                 568,837            
    Total liabilities and stockholders’ equity       $ 5,938,463               $ 5,795,491            
                                             
    Net interest income:             $ 100,297               $ 91,634      
    Interest rate spread 3.08 %               3.05 %               2.71 %
    Net interest margin*                   3.63 %               3.38 %
    Average interest-earning assets to average interest-bearing liabilities         126.2 %               127.0 %          
                                             

    *Defined as the Company’s net interest income divided by average total interest-earning assets.

    NON-GAAP FINANCIAL MEASURES

    This document contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”), specifically, the ratio of tangible common equity to tangible assets.

    In calculating the ratio of tangible common equity to tangible assets, we subtract period-end intangible assets from common equity and from total assets. Management believes that the presentation of this measure excluding the impact of intangible assets provides useful supplemental information that is helpful in understanding our financial condition and results of operations, as it provides a method to assess management’s success in utilizing our tangible capital as well as our capital strength. Management also believes that providing a measure that excludes balances of intangible assets, which are subjective components of valuation, facilitates the comparison of our performance with the performance of our peers. In addition, management believes that this is a standard financial measure used in the banking industry to evaluate performance.

    This non-GAAP financial measurement is supplemental and is not a substitute for any analysis based on GAAP financial measures. Because not all companies use the same calculation of non-GAAP measures, this presentation may not be comparable to other similarly titled measures as calculated by other companies.

    Non-GAAP Reconciliation: Ratio of Tangible Common Equity to Tangible Assets

        June 30,       December 31,  
        2025       2024  
        (Dollars in thousands)  
           
    Common equity at period end $ 622,368     $ 599,568  
    Less: Intangible assets at period end   9,877       10,094  
    Tangible common equity at period end (a) $ 612,491     $ 589,474  
                   
    Total assets at period end $ 5,854,672     $ 5,981,628  
    Less: Intangible assets at period end   9,877       10,094  
    Tangible assets at period end (b) $ 5,844,795     $ 5,971,534  
                   
    Tangible common equity to tangible assets (a) / (b)   10.48 %     9.87 %
                   

    CONTACT:

    Jeff Tryka, CFA,
    Investor Relations,
    (616) 233-0500
    GSBC@lambert.com

    The MIL Network –

  • MIL-OSI USA: SPC Severe Thunderstorm Watch 520

    Source: US National Oceanic and Atmospheric Administration

    Note:  The expiration time in the watch graphic is amended if the watch is replaced, cancelled or extended.Note: Click for Watch Status Reports.
    SEL0

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Severe Thunderstorm Watch Number 520
    NWS Storm Prediction Center Norman OK
    550 PM EDT Wed Jul 16 2025

    The NWS Storm Prediction Center has issued a

    * Severe Thunderstorm Watch for portions of
    Northern Indiana
    Southwest Lower Michigan
    Lake Michigan

    * Effective this Wednesday afternoon from 550 PM until Midnight
    EDT.

    * Primary threats include…
    Scattered damaging wind gusts to 65 mph possible

    SUMMARY…Thunderstorms currently affecting northeast Illinois will
    track eastward across the watch area through the early evening.
    Locally damaging wind gusts are the primary concern.

    The severe thunderstorm watch area is approximately along and 40
    statute miles east and west of a line from 60 miles south of South
    Bend IN to 35 miles north northwest of Kalamazoo MI. For a complete
    depiction of the watch see the associated watch outline update
    (WOUS64 KWNS WOU0).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Severe Thunderstorm Watch means conditions are
    favorable for severe thunderstorms in and close to the watch area.
    Persons in these areas should be on the lookout for threatening
    weather conditions and listen for later statements and possible
    warnings. Severe thunderstorms can and occasionally do produce
    tornadoes.

    &&

    OTHER WATCH INFORMATION…CONTINUE…WW 517…WW 518…WW 519…

    AVIATION…A few severe thunderstorms with hail surface and aloft to
    1 inch. Extreme turbulence and surface wind gusts to 55 knots. A few
    cumulonimbi with maximum tops to 500. Mean storm motion vector
    25025.

    …Hart

    Note: The Aviation Watch (SAW) product is an approximation to the watch area. The actual watch is depicted by the shaded areas.
    SAW0
    WW 520 SEVERE TSTM IN MI LM 162150Z – 170400Z
    AXIS..40 STATUTE MILES EAST AND WEST OF LINE..
    60S SBN/SOUTH BEND IN/ – 35NNW AZO/KALAMAZOO MI/
    ..AVIATION COORDS.. 35NM E/W /38ENE BVT – 15WSW GRR/
    HAIL SURFACE AND ALOFT..1 INCH. WIND GUSTS..55 KNOTS.
    MAX TOPS TO 500. MEAN STORM MOTION VECTOR 25025.

    LAT…LON 40838709 42698660 42698503 40838555

    THIS IS AN APPROXIMATION TO THE WATCH AREA. FOR A
    COMPLETE DEPICTION OF THE WATCH SEE WOUS64 KWNS
    FOR WOU0.

    Watch 520 Status Report Message has not been issued yet.

    Note:  Click for Complete Product Text.Tornadoes

    Probability of 2 or more tornadoes

    Low (

    MIL OSI USA News –