India’s banking sector slated for key turnaround in Q3: Report

Source: Government of India

Source: Government of India (4)

The third quarter (Q3) of FY26 is likely to mark a turning point for India’s banking sector, as net interest margins (NIMs) are expected to stabilise and earnings begin to recover, a new report said on Thursday.

This positive outlook is supported by easing funding costs, the upcoming reduction in the Cash Reserve Ratio (CRR), and normalisation of credit costs, according to data compiled by Motilal Oswal Financial Services.

As part of this recovery, private sector banks are showing impressive resilience in maintaining lending yields despite multiple repo rate cuts by the Reserve Bank of India (RBI).

The report highlights that private banks have been able to raise their spreads on fresh loans — helping them protect profitability in a low-rate environment.

In May 2025, the weighted average lending rate (WALR) on fresh loans for private banks rose by 7 basis points month-on-month, the report stated.

This increase reflects strong pricing strategies and credit demand. The spread on fresh rupee loans over the repo rate for private banks has reached its highest level since August 2022 — now at 415 basis points.

This indicates that the lenders are not only navigating the policy changes effectively but also maintaining healthy margins through strategic loan repricing.

Private banks also outperformed in terms of WALR on outstanding loans. While the system-wide WALR on outstanding loans fell slightly to 9.67 per cent in May, private lenders saw a 2 basis point increase — bucking the trend.

On the funding side, deposit rates are beginning to decline gradually. The weighted average term deposit rate (WATDR) for private banks slipped slightly to 7.19 per cent in May, with further reductions expected as banks implement savings and term deposit rate cuts ranging from 20 to 100 basis points.

The full benefit of these reductions is likely to materialise in the second half of the fiscal year — easing funding pressures, as per the report.

According to Motilal Oswal, while NIMs may remain under pressure in the near term, they are expected to bottom out by the second or third quarter of FY26.

The planned phased CRR cut from September 2025 is expected to inject about Rs 2.5 lakh crore of durable liquidity into the banking system — further supporting margin recovery.

Credit costs are also expected to decline as asset quality stabilises, particularly in the retail and microfinance segments.

“This improvement will further support the earnings recovery anticipated in the latter half of FY26,” the report added.

(IANS)

July 24, 2025

MIL-OSI Russia: Financial news: Summary table of proposals and comments on the draft Bank of Russia instruction

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Public discussion

Draft regulatory documents of the Bank of Russia for public discussion

Summary table of proposals and comments on the draft Bank of Russia instruction “On Amendments to Bank of Russia Instruction dated April 10, 2023 No. 6406-U”

Draft regulation of the Bank of Russia “On the requirements for targeted internal control rules to combat the legalization (laundering) of proceeds from crime, the financing of terrorism, extremist activity and the financing of the proliferation of weapons of mass destruction, on the qualification requirements for special officials responsible for the implementation of targeted internal control rules to combat the legalization (laundering) of proceeds from crime, the financing of terrorism, extremist activity and the financing of the proliferation of weapons of mass destruction, and on the procedure for informing organizations carrying out transactions with funds or other property that are members of a banking group or banking holding company, on the introduction of the ban specified in Part Two of Article 13 of Federal Law No. 115-FZ of August 7, 2001 “On Combating the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism”

Draft Bank of Russia instruction “On the procedure for notification by a bank (other credit institution) of the opening or closing of an account, of a change in account details, of a change in account details in electronic form to the territorial body of the insurer”

Draft Bank of Russia Instruction “On Amending Bank of Russia Instruction No. 3701-U of June 29, 2015 “On the Procedure for Sending Requests and Receiving Information from the Central Catalog of Credit Histories by Submitting a Request through a Notary”

Draft Bank of Russia Instruction “On Amendments to Bank of Russia Instruction No. 135-I of April 2, 2010”

Draft Bank of Russia Instruction “On the cases and procedure for partial redemption of investment units of a closed-end mutual investment fund without the owner of the investment units submitting a request for their redemption”

Draft Bank of Russia Instruction “On Amendments to Bank of Russia Instruction No. 6568-U dated October 6, 2023”

Summary table of comments and suggestions on the draft Bank of Russia instruction “On Amendments to Bank of Russia Instruction dated September 18, 2017 No. 4533-U”

Summary table of comments, suggestions and questions on the draft Bank of Russia Instruction “On types of assets, characteristics of types of assets for which risk coefficient surcharges are established, and on the application of surcharges to the specified types of assets when credit institutions determine capital adequacy standards”

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.

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MIL OSI Russia News –

July 24, 2025

MIL-OSI United Nations: Resilience at the Core: Reframing Social Development for a Risk-Prone World

Source: UNISDR Disaster Risk Reduction

Venue

Qatar National Convention Centre, Doha (Room TBC)

Background

The Second World Summit for Social Development takes place at a defining moment for global development. As the 2030 Agenda enters its final stretch, only 17% of SDG targets are currently on track. The promise to end poverty, expand decent work, and reduce inequalities is faltering under the weight of intersecting crises, from escalating climate extremes and pandemics to economic shocks and pandemics. At the same time, 2025 also marks the final implementation phase of the Sendai Framework for Disaster Risk Reduction 2015-2030.

In this context, disasters have become a structural feature of development, not isolated events. Each year, they affect over 100 million people, disrupt livelihoods, displace millions, and erase decades of progress in a matter of hours. These impacts are not evenly distributed: they disproportionately affect people in vulnerable situations such as women, children, older persons, persons with disabilities, and those living in poverty, further entrenching cycles of inequality and exclusion.

Social development systems such as social protection, health, education, and employment are not designed to withstand compounding shocks. Most social protection schemes do not anticipate risk or reach the most exposed communities. Critical infrastructure is rarely built with future hazards in mind. According to the Global Assessment Report 2025, more than 80 percent of global disaster losses are linked to sectors critical to human development, including education, health, housing, and transport. These systemic weaknesses are not only exposing people to greater risk but are also locking countries into cycles of crisis and recovery, rather than enabling sustainable and inclusive progress.

Yet this crisis presents an opportunity, the 2023 Midterm Review of the Sendai Framework and the outcome of the 8th Global Platform for Disaster Risk Reduction – The Geneva Call for Disaster Risk Reduction – highlighted that countries which invest in risk-informed planning, governance, and infrastructure experience fewer lives lost, faster recoveries, and more equitable development. DRR is not solely a matter of responding to disasters; it is fundamentally about reshaping the way public systems are designed and implemented, to be more inclusive, forward-looking, and resilient to a broad spectrum of risks. Risk-informed development means making deliberate choices to anticipate, plan for, reduce and prevent disaster risk. It means aligning DRR with poverty eradication, decent work, housing, and inclusion – not as an add-on, but as a core strategy for sustainable development. This requires political will, institutional change, and financing systems that reward prevention and protect the most vulnerable.

The 2025 World Summit on Social Development is a once-in-a-generation opportunity to reposition DRR as a foundation for social justice and equity. Building resilience is not only a technical imperative, it is a social and moral one. This Solutions Session will spotlight the transformative potential of DRR to protect development gains, tackle root causes of vulnerability, and ensure no one is left behind.

Objective

This Solutions Session will challenge the conventional view of DRR as a siloed technical tool and reframe it as a transformative accelerator of social development. It will:

Highlight policy shifts where governments use data, anticipatory action, and inclusive design to future-proof their development pathways.

Catalyze institutional and policy shifts across Member States, the UN system and the private sector to mainstream DRR as a core approach to achieving inclusive, risk-informed, and future-ready social development.

MIL OSI United Nations News –

July 24, 2025

MIL-OSI United Nations: 24 July 2025 Departmental update WHO unveils health and environment scorecards for 194 countries

Source: World Health Organisation

The World Health Organization (WHO) has released the 2024 update of its health and environment country scorecards, assessing how countries are managing eight major environmental threats to health across sectors. These threats include air pollution, unsafe water, sanitation and hygiene (WASH), climate change, loss of biodiversity, exposure to chemicals, and radiation, occupational risks, and environmental risks in and around health care facilities. This year’s edition also introduces a new summary score, offering a concise snapshot of how environmental conditions are impacting people’s health.

WHO’s health and environment country scorecards serve as a valuable tool for guiding national action. They provide detailed data across the eight key areas linking environment, climate change, and health policies, promoting cross-sectoral engagement, and helping governments prioritize evidence-based interventions.

“Tackling environmental risks isn’t optional—it’s a prescription for better health, stronger economies, and a safer future. You can’t have healthy people on a sick planet,” said Dr Maria Neira, WHO Director, Department of Environment, Climate Change and Health. “We urge all countries to take bold, coordinated action across sectors to reduce environmental threats. Investing in clean air, safe water, and climate-protective policies is not just good for the planet. It’s essential for the health and future of their people.”

From among countries, Norway and Canada received the highest scores overall. Among income groups, Argentina scored highest for upper-middle-income countries, Jordan for lower-middle-income, and Malawi for low-income countries. European countries led in regional averages, followed by the Americas, Western Pacific, and Eastern Mediterranean, and other regions.

In this third round of scorecards, the introduction of the summary score marks a significant step forward in helping countries prioritize action on health and environment. The summary score is designed to condense a wide range of environmental health indicators into a single, accessible measure. Comprising 25 key indicators across environment, climate change, and health, the score enables countries to track progress at national, regional, and global levels—highlighting trends in exposures, health impacts, policy implementation, as well as identifying critical data gaps.

The scorecards support countries in conducting situation assessments and setting evidence-based priorities for action. While large disparities exist between countries, shaped in part by differing levels of economic resources, every country has an opportunity to strengthen efforts to reduce environmental health risks.

“The updated scorecards, together with the summary score, now bring new visibility to the links between environment and health at country level,” said Dr Annette Pruess, Unit Head, Department of Environment, Climate Change and Health, WHO. “This is a powerful tool for governments to identify challenges and shape targeted responses.”

About 25% of the global burden of disease is linked to environmental threats that are largely preventable. By addressing these environmental risk factors through stronger policies, cleaner technologies, and sustainable practices, we can significantly reduce preventable illnesses and deaths—improving health outcomes while protecting our planet.

MIL OSI United Nations News –

July 24, 2025

MIL-OSI United Nations: 24 July 2025 Departmental update WHO and UNODC release landmark report on contaminated medicines, urging action to protect patients from preventable harm

Source: World Health Organisation

The World Health Organization (WHO) and the United Nations Office on Drugs and Crime (UNODC) have jointly released a landmark report unveiling critical findings on the persistent and preventable threat of contaminated medicines which claimed the lives and compromised the health of countless patients, predominantly children, through the ingestion of medicines with dangerously high levels of toxic chemicals.

Over the past 90 years, at least 25 documented incidents of excipient contamination have resulted in more than 1300 deaths worldwide, many of them children. These incidents occur often due to systemic vulnerabilities in the global supply chain of pharmaceutical excipients, and they have disproportionately affected people in low- and middle-income countries (LMICs), where regulatory oversight and access to quality-assured medicines may be limited.

Titled “Contaminated medicines and integrity of the pharmaceutical excipients supply chain”, the report highlights a tragic and ongoing public health crisis: the contamination of medicines with industrial-grade toxic chemicals, notably diethylene glycol (DEG) and ethylene glycol (EG).

These substances are used as industrial solvents and antifreeze agents but can cause severe health issues and be fatal if ingested, even in small amounts, especially for children. They are often illegally substituted for pharmaceutical-grade excipients such as propylene glycol, glycerin, and sorbitol—ingredients used in the formulation of medicines, including cough and paracetamol syrups.

Since October 2022, WHO has issued 7 Medical Product Alerts concerning multiple batches of contaminated liquid oral medicines, many of which were marketed for paediatric use and exported widely to LMIC. WHO also issued 2 Alerts concerning falsified bulk chemicals masquerading as pharmaceutical quality excipients.

Following a particularly serious case in The Gambia, in which at least 66 children lost their lives, attention was once again focused on this issue. The case in The Gambia was quickly followed by similar incidents in Indonesia and Uzbekistan with a further 268 reported deaths and two further WHO Medical Product Alerts.

Most of the recent cases involve inexpensive oral liquid medicines that can be bought without a prescription. In most cases these medicines were marketed specifically for children and are registered medicines available in pharmacies, medicine stores or informal street markets.

Key findings

The report reveals how criminal networks exploit market volatility and regulatory gaps to introduce toxic substitutes into the supply chain. Key findings include:

The use of falsified labels and substitution of toxic chemicals for legitimate excipients such as propylene glycol.
The marketing of falsified excipients via online platforms, including e-commerce and social media.
A lack of regulatory oversight for manufacturers and distributors of high-risk excipients.
Deficiencies in post-market surveillance and enforcement mechanisms in both manufacturing and importing countries.
Intentional criminal conduct, including deliberate falsification of excipients and documentation, contributing directly to multiple contamination incidents.
Inadequate coordination and capacity among regulatory, customs and law enforcement authorities hindering timely investigations and prosecutions in some jurisdictions.

Call to action

The report calls for urgent global action to close regulatory gaps, strengthen oversight of excipient supply chains and protect all populations, especially the most vulnerable such as children, from preventable and deadly poisoning.

WHO has long played a central and proactive role in preventing, detecting, and responding to substandard and falsified medical products. This report reinforces the critical importance of strong and effective medicines regulatory systems to ensure access to safe, effective and quality-assured products.

Complementing this public health perspective, UNODC highlights the criminal dimension of the issue, documenting how organized criminal groups falsify documentation, substitute industrial-grade chemicals and exploit digital platforms to illegally infiltrate the global pharmaceutical supply chain with toxic and unregulated substances. Its contribution underscores the importance of criminal justice responses in parallel to regulatory action.

The report underscores the need for:

Improved regulatory frameworks and enforcement mechanisms.
Enhanced compliance by manufacturers and distributors.
Greater transparency and traceability in the excipient supply chain.
Stronger collaboration between health authorities, law enforcement and the private sector.

Closer collaboration and timely information exchange between regulatory authorities, law enforcement and customs to support investigations and prosecutions.
Greater enforcement of existing laws, including the application of sanctions in cases of critical non-compliance with regulations related to contaminated excipients.
Improved investigation quality and prosecutorial capacity to address intentional acts of contamination and falsification of pharmaceutical excipients.
Strengthened post-market surveillance mechanisms to detect and respond to incidents with potential criminal dimensions.
Enhanced legal and operational frameworks to address the deliberate falsification of labels, certificates of analysis and excipient composition.

In many cases, contaminated medicines are the result of intentional criminal conduct. Addressing this threat requires coordinated efforts by all stakeholders, including law enforcement agencies, customs officials, prosecutors and anti-corruption bodies. The report calls for greater cross-border cooperation, investigative capacity and the use of international legal instruments such as the United Nations Convention against Transnational Organized Crime (UNTOC).

WHO and UNODC urge Member States, national regulatory authorities, criminal justice actors, law enforcement agencies, pharmaceutical manufacturers and excipient distributors to take immediate decisive action to prevent further avoidable tragedies. Failure to act now risks condemning future generations of children to the same unacceptable and avoidable harms.

A collaborative effort grounded in global partnership

This report is the result of a collaborative effort involving national regulatory authorities (NRAs) and global health partners. Its development was made possible through the generous support of the Fleming Fund and the Gates Foundation.

WHO and UNODC extend their sincere appreciation to all stakeholders who contributed to this important work, particularly the NRAs of The Gambia, Indonesia and Pakistan, whose experiences and insights were instrumental in shaping the report’s findings.

MIL OSI United Nations News –

July 24, 2025

MIL-OSI Asia-Pac: Tenders invited for licence of fee-paying public car park at Chai Wan Municipal Services Building

Source: Hong Kong Government special administrative region – 4

The Government Property Agency (GPA) is inviting tenders for a three-year licence of a fee-paying public car park on portions of Basement Two and a portion of Basement One of Chai Wan Municipal Services Building, 338 Chai Wan Road, Chai Wan, Hong Kong.

The premises should only be used to operate a fee-paying public car park for the parking of private cars and motor cycles.

The tender notice was uploaded today (July 24) to the GPA Property Portal: www.gpaproperty.gov.hk/en/index.html. Tender documents are available for collection at the GPA, 9/F, South Tower, West Kowloon Government Offices, 11 Hoi Ting Road, Yau Ma Tei, Kowloon, during the period from 9am to 6pm from Monday to Friday, except public holidays. The documents can also be downloaded from the GPA Property Portal.

Interested tenderers who wish to conduct a site inspection of the premises should make a prior appointment with the GPA by calling 3842 6775 by August 6.

Tenderers must submit their tenders by placing them in the Government Logistics Department Tender Box placed on the Ground Floor, North Point Government Offices, 333 Java Road, North Point, Hong Kong, before noon on August 14. Late tenders will not be accepted.

MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Asia-Pac: Housing Authority awards completion contract

Source: Hong Kong Government special administrative region – 4

The following is issued on behalf of the Hong Kong Housing Authority:

The Hong Kong Housing Authority’s Building Committee and Tender Committee today (July 24) approved the award of the completion contract for construction of the Public Housing Development at Tung Chung Area 100, the Public Housing Development at Tuen Mun Area 29 West and the underground link of Pak Tin Estate redevelopment Phase 10. These three projects were previously carried out by Aggressive Construction Company Limited. The remaining works will be taken up by China Overseas Building Construction Limited.

MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Asia-Pac: Hospital Authority announces senior appointments (with photos)

Source: Hong Kong Government special administrative region – 4

The following is issued on behalf of the Hospital Authority:

The Hospital Authority (HA) spokesperson announced the following senior appointments today (July 24):

Dr Terry Lau Chu-leung will be appointed as Hospital Chief Executive (HCE) of Pok Oi Hospital (POH) and Tin Shui Wai Hospital (TSWH) with effect from August 1, succeeding Dr Chong Yee-hung upon his retirement.

Dr Lau, currently the Deputising HCE of POH and Chief of Service (Accident & Emergency) of POH, TSWH and Tuen Mun Hospital in the New Territories West Cluster (NTWC), is a specialist in emergency medicine by background. Since 2021, he has also served as the Deputy HCE of POH, demonstrating a proven track record in enhancing operational efficiency and clinical outcomes. Under his leadership, the NTWC Accident & Emergency Department has achieved a sustained low medical admission rate over the past seven years with a 25 per cent reduction in admissions while maintaining a zero access block. As the cluster co-ordinator for the Pilot Scheme for Direct Cross-boundary Ambulance Transfer in the Greater Bay Area, Dr Lau has effectively managed cases of transfer of patients through smooth processing and strong collaboration with multiple stakeholders.

Dr Simon Tang Yiu-hang will be appointed as Cluster Chief Executive of New Territories East Cluster and HCE of Prince of Wales Hospital with effect from August 25.

Dr Tang, a specialist in emergency medicine by background, is a seasoned senior executive with extensive experience in management positions at both the corporate and cluster levels. As the Director of Cluster Services at the HA Head Office since 2022, he has achieved significant outcomes across diverse areas, such as the establishment of the Global Healthcare Professional Recruitment Centre to attract non-locally trained doctors and nurses to the HA, the implementation of new procurement strategies which effectively reduced costs in purchasing medical equipment and drugs, and the acceleration of new drug enlistments into the HA Drug Formulary and safety net.

During the COVID-19 epidemic, Dr Tang played a key leading role in combating the disease by chairing daily morning meetings in the HA to ensure optimal allocation of treatment facilities for patients. He also spearheaded the establishment of the HA TeleHealth platform and drug delivery services to enhance healthcare service accessibility during critical periods.

The Chairman of the HA, Mr Henry Fan, and the Chief Executive of the HA, Dr Tony Ko, congratulate Dr Lau and Dr Tang on their new appointments and wish them every success in taking up the new roles. Mr Fan and Dr Ko also express their appreciation to Dr Chong for his dedicated service over the years and wish him a happy retirement.

MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Asia-Pac: Latest situation of Shek O Beach

Source: Hong Kong Government special administrative region – 4

Attention TV/radio announcers:

Please broadcast the following as soon as possible:

Here is an item of interest to swimmers.

The Leisure and Cultural Services Department announced today (July 24) that the shark prevention net at Shek O Beach in Southern District, Hong Kong Island, has been repaired, and the beach is reopened.

The beach was temporarily closed earlier for shark prevention net maintenance work.

MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Asia-Pac: Guangdong, Hong Kong, Macao Health, Animal and Plant Quarantine and Food Safety Control Meeting 2025 held online

Source: Hong Kong Government special administrative region – 4

The Guangdong, Hong Kong, Macao Health, Animal and Plant Quarantine and Food Safety Control Meeting 2025 was held online for two consecutive days and concluded today (July 24). Representatives from the three places shared experiences and exchanged views on various topics within the fields of health, animal and plant quarantine, and food safety control. The three places agreed to further strengthen exchanges and co-operation.

Speaking at the meeting, the Permanent Secretary for Environment and Ecology (Food), Ms Irene Young, said that with the acceleration of the integration process of the Guangdong-Hong Kong-Macao Greater Bay Area, the movement of people, trade in goods, and economic interactions among the three places have become increasingly frequent. The governments of the three places have been working closely together in areas such as health, animal and plant quarantine, and food safety control, achieving significant results across various fields. The meeting enabled experts from the three places to exchange insights, taking the collaboration to new heights.

The Controller of the Centre for Health Protection of the Department of Health, Dr Edwin Tsui, also said at the meeting that the meeting would further strengthen collaboration on health quarantine between Guangdong, Hong Kong and Macao. This will help build a robust cross-boundary public health protection system that safeguards the health and safety of people travelling to and from the three places, creating a “Healthy Bay Area”.

Representatives from the Mainland and the Macao Special Administrative Region (SAR) attending the meeting included the Deputy Director General of the Guangdong Sub-Administration of the General Administration of Customs of the People’s Republic of China, Mr Feng Guoqing; the Acting Chairman of the Administration Committee on Municipal Affairs of the Municipal Affairs Bureau of the Macao SAR Government, Mr Mak Kim-meng; and the Director of the Centre for Disease Prevention and Control of the Health Bureau of the Macao SAR Government, Dr Leong Iek-hou.

Other representatives from Hong Kong were the Director of Food and Environmental Hygiene, Mr Donald Ng; the Director of Agriculture, Fisheries and Conservation, Mr Mickey Lai; and Acting Controller of the Centre for Food Safety, Dr Yonnie Lam and Dr Terence Cheung.

The Guangdong, Hong Kong, Macao Health, Animal and Plant Quarantine and Food Safety Control Meeting is held every two years.

MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Asia-Pac: Labour Department to hold seminar on Employment Ordinance

Source: Hong Kong Government special administrative region – 4

The Labour Department has called for registration for a seminar on the Employment Ordinance to be held at 2.15pm on August 21 (Thursday) at the Lecture Theatre (WB), 4/F, West Block, Education Bureau Kowloon Tong Education Services Centre, 19 Suffolk Road, Kowloon Tong.

The main provisions of the Employment Ordinance and abolition of the Mandatory Provident Fund offsetting arrangement will be introduced.

The seminar will be conducted in Cantonese and participation is free of charge. Interested participants should complete the registration form, which can be downloaded from the Labour Department’s website (www.labour.gov.hk), and return it by email by August 7 (Thursday). Spaces will be allocated on a first-come, first-served basis. For enquiries, please call 3575 8671.

MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Asia-Pac: Zhejiang Jingkun Art Center (Kun Opera Troupe) to perform classic Kunqu plays and excerpts in Hong Kong in August (with photos)

Source: Hong Kong Government special administrative region – 4

The Chinese Culture Festival (CCF) 2025, organised by the Leisure and Cultural Services Department (LCSD), has invited Zhejiang Jingkun Art Center (Kun Opera Troupe) to present timeless masterpieces in Hong Kong in August, including their signature classic “Fifteen Strings of Cash”, the light-hearted comedy “The Lioness Roars”, and selected opera excerpts showcasing both civil and martial arts. The performances will feature acclaimed artists from the troupe’s Wan and Dai generations, demonstrating the enduring cultural vitality of Kunqu opera through generations of artistic heritage. This programme is also one of the programmes of the 13th Chinese Opera Festival (COF).

ã€€ã€€Kunqu opera gained popularity in the Kunshan area of Suzhou during the Yuan and Ming periods. It has been described as “the mother of Chinese operas”, and was listed by UNESCO as one of the “Masterpieces of the Oral and Intangible Heritage of Humanity” in 2001. It is renowned for its elegant libretti commended for literary merit and delicate dance movements.

ã€€ã€€Details of the three performances are as follows:

“Fifteen Strings of Cash”
———————————————————
Date and time: August 15 (Friday), 7.30pm

ã€€ã€€Departing from Kunqu opera’s typical themes of scholar-beauty romance, “Fifteen Strings of Cash” recounts a mysterious murder case triggered by 15 strings of copper coins. This gripping tale follows Judge Kuang Zhong, who overturns a wrongful conviction and uncovers the true culprit, a cunning trickster named Lou Ashu (Lou the Rat). The excerpt “An Investigation in Disguise” features a masterful interplay between the laosheng (old male) and the chou (comic) roles, representing the pinnacle of operatic artistry. This play was first performed by the troupe’s Chuan-generation artists Zhou Chuanying and Wang Chuansong, and has been passed down through five generations over 70 years. The upcoming performance features Bao Chen and Tian Yang of the Wan generation in the lead, who uphold the legacy with this timeless classic.

“The Lioness Roars”
———————————————————
Date and time: August 16 (Saturday), 7.30pm

ã€€ã€€As one of the rare light comedies in Kunqu opera, “The Lioness Roars” retains the elegance of Kunqu’s lyrical singing while infusing the scholar-beauty romance with a touch of mundane charm, making it a staple of the Kunqu repertoire. The play follows the story of Chen Jichang, a talented scholar who appears timid but deeply devoted to his wife Madam Liu (the Lioness of Hedong). She is portrayed as dominating and prideful, but never to the extent of being objectionable. Chen’s friend Su Dongpo tries to mediate but only adds fuel to their quarrels. Through the couple’s everyday squabbles, the play highlights the importance of family harmony. The play is one of the signature works of Kunqu master Wang Shiyu. Now, the troupe’s star duo Zeng Jie and Hu Ping of the Wan generation take on the roles of this quarrelsome yet loving couple, promising a performance of exceptional artistry.

Traditional Opera Excerpts
———————————————————
Date and time: August 17 (Sunday), 2.30pm

ã€€ã€€The finale will present five opera excerpts drawn from classic masterpieces of Kunqu opera featuring “The Celestial Place” from “The Dream of Nanke” (one of Tang Xianzu’s “The Four Dreams at Linchuan” of Ming dynasty); “Cancelling the Birthday Celebrations” from the zaju play “The Pavilion of Chanting in the Wind” of Qing dynasty; “Rendezvous at the Pavilion” from the chuanqi “Red Pear Blossom” of Ming dynasty; “Entrusting His Son” from “The Beauty Washing Silk by the River”, the earliest chuanqi in Kunqu; and the spectacular martial piece “Fighting on the Water” from “Leifeng Pagoda”. This programme combines both civil and martial pieces, with the troupe’s outstanding actors demonstrating their exceptional artistry, which makes the performance a must-see for opera enthusiasts.

ã€€ã€€Zhejiang Jingkun Art Center (Kun Opera Troupe) was established in 2019 through the merger of Zhejiang Kunqu Opera Troupe and Zhejiang Peking Opera Troupe. The Zhejiang Kunqu Opera Troupe, founded in 1956, brought Kunqu opera back into the national spotlight when it adapted the traditional play “Dream of Two Bears” into “Fifteen Strings of Cash”. This production became a landmark in Chinese opera reform, with People’s Daily publishing an editorial, hailing it as “a single play that revived an entire genre”. The success spurred the establishment of Kunqu troupes across China. Over the years, the troupe has nurtured outstanding talents, maintaining a lineage of six generations of performers, namely Chuan, Shi, Sheng, Xiu, Wan and Dai. It has also produced numerous award-winning works, earning widespread recognition.

ã€€ã€€The three performances will be held at the Auditorium of Ko Shan Theatre New Wing. Lyrics and dialogue are with Chinese and English surtitles. Tickets priced at $250, $350 and $450 are now available at URBTIX (www.urbtix.hk). For telephone bookings, please call 3166 1288. Group booking discounts and package booking discounts are available for purchasing selected CCF stage programmes, the “Chinese Opera Film Shows” of the COF 2025 and the “Legacy and Vision: Conversations with Chinese Cultural Masters” lecture. For programme enquiries and concessionary schemes, please call 2268 7325 or visit www.ccf.gov.hk/en/programme/zhejiang-jingkun-art-center-kun-opera-troupe.

ã€€ã€€The programme will also feature two Kunqu opera masterclasses (in Putonghua), with actors Hu Ping and Zeng Jie to share the crafting of Dan (female) roles and Sheng (male) roles in Kunqu respectively. The two sessions will be held at 2pm and 4pm on August 14 (Thursday) at AC2, Level 4, Administration Building, Hong Kong Cultural Centre. In addition, a meet-the-artists session entitled “Six Generations of Kunqu Performers: The Sustaining Growth of the Zhejiang Kunqu Opera Troupe” (in Putonghua and Cantonese) will be held at 7.30pm on the same day at the same venue. The speakers include Gu Jiong, Bao Chen, Zeng Jie, Hu Ping and Tian Yang, while Chinese opera researcher Chan Chun-miu will be the moderator. Additionally, a demonstration talk entitled “Kunqu Classics as a Living Tradition” (in Putonghua) will be held at 5pm on August 18 (Monday) at the Theatre, Block I, Jao Tsung-I Academy. The speakers include actors Wu Xinyi and Wang Hengtao. Admission is free. Since the quotas for online registration are full, those who are interested may wait at the venue’s entrance for a standby quota on the day of the session. Any unclaimed spots will be released 10 minutes after the session begins on a first-come, first-served basis.

ã€€ã€€The CCF, presented by the Culture, Sports and Tourism Bureau and organised by the Chinese Culture Promotion Office under the LCSD, aims to promote Chinese culture and enhance the public’s national identity and cultural confidence. It also aims to attract top-notch artists and arts groups from the Mainland and other parts of the world for exchanges in Chinese arts and culture. The CCF 2025 is held from June to September. Through different performing arts programmes in various forms and related extension activities, including selected programmes of the COF, “Tan Dun WE-Festival”, film screenings, exhibitions, as well as community and school activities and more, the festival provides members of the public and visitors with more opportunities to enjoy distinctive programmes that showcase fine traditional Chinese culture, thereby facilitating patriotic education and contributing to the inheritance, transformation and development of traditional Chinese culture in Hong Kong. For more information about programmes and activities of the CCF 2025, please visit www.ccf.gov.hk.

MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Asia-Pac: Three co-owners fined over $80,000 for not complying with removal order

Source: Hong Kong Government special administrative region – 4

Three co-owners were convicted and fined $84,660 in total, of which $76,660 was the fine for the number of days that the offence continued, for failing to comply with a removal order issued under the Buildings Ordinance (BO) (Cap. 123) at the Kowloon City Magistrates’ Courts on May 14 and yesterday (July 23) respectively.

The case involved two unauthorised building works (UBWs) on and over the yard on the ground floor of a composite building in Lai Chi Kok Road, Sham Shui Po. A removal order was served on the co-owners under section 24(1) of the BO. Due to their failure to comply with the removal order, they were prosecuted by the BD.

A spokesman for the BD said today (July 24), “UBWs may lead to serious consequences. Owners must comply with removal orders without delay. The BD will continue to take enforcement action against owners who fail to comply with removal orders, including instigation of prosecution, to ensure building and public safety. ”

Failure to comply with a removal order without reasonable excuse is a serious offence under the BO. The maximum penalty upon conviction is a fine of $200,000 and one year’s imprisonment, and a further fine of $20,000 for each day that the offence continues.

MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Europe: Italy: EIB and Eni sign €500 million finance agreement to convert Livorno refinery into a biorefinery

Source: European Investment Bank

This will be Eni’s third biorefinery in Italy, after those in Venice and Gela.
Among the distinctive features of the project, in addition to the use of advanced technologies, there is the possibility of adapting the plant to also produce SAF (sustainable aviation fuel) in the future.
This initiative contributes to the European Union’s decarbonisation goals, with particular reference to the transport sector, and confirms Eni’s energy transition path.
The project is part of Enilive’s strategy to reach more than five million tonnes of biorefinery capacity by 2030.

The European Investment Bank (EIB) and Eni have signed a €500 million 15-year finance contract to support the conversion of Eni’s Livorno refinery in Tuscany into a biorefinery. The agreement was signed today at Eni’s headquarters in San Donato Milanese by EIB Vice-President Gelsomina Vigliotti and Eni CEO Claudio Descalzi.

Eni’s project involves the construction of new plants to produce hydrogenated biofuels at the Livorno refinery site, including a biogenic pre-treatment unit and a 500 000-tonne/year Ecofining™ plant.

Thanks to its proprietary Ecofining™ technology, Eni’s company dedicated to sustainable mobility, Enilive, produces HVO (hydrogenated vegetable oil) – a biofuel made from renewable raw materials[1] such as used cooking oil and agrifood waste. Pure HVO can now be used in approved engines and is distributed through existing infrastructure.

EIB Vice-President Gelsomina Vigliotti said: “The EIB financing is key to delivering a project of high environmental, technological and strategic value, helping to promote the decarbonisation of the transport sector. This is a concrete example of how industrial innovation can accelerate the path towards climate neutrality, while generating sustainable value for regions.”

Eni CEO Claudio Descalzi said: “The agreement with the EIB confirms Eni’s concrete and high-quality commitment in the transition towards increasingly decarbonized energy. It also underscores the validity of our approach, which is to invest and leverage all available and effective initiatives and technologies for reducing emissions. This virtuous approach is now leading us to convert a third refinery into a biorefinery in Italy, following the examples of Venice and Gela.”

HVO biofuels play a key role because they can make an immediate contribution to reducing transport sector emissions generated not only on roads, but also by air traffic, maritime and rail transport (calculated along the entire value chain). The conversion of the Livorno site is in line with Enilive’s strategy to increase the production of biofuels in response to growing demand in Europe and Italy, in order to meet both emission reduction targets under RED III (Renewable Energy Directive) and the obligations to release pure biofuels for use as defined by Italian legislation. Worldwide, it is estimated that the demand for hydrogenated biofuels will increase by 65% over the period 2024-2028[2].

The Livorno biorefinery will be able to treat different types of biogenic charges, mainly waste and residues of plant origin, to produce HVO diesel, HVO naphtha and bio-LPG.

Among the distinctive features of the project, in addition to the adoption of advanced technologies, there is the possibility in the future of modifying the layout of the plant to have the flexibility to also produce sustainable aviation fuel (SAF), which is a key element of efforts to decarbonise aviation. This gives flexibility to the investment and brings it up to speed with the environmental priorities of the European Union, broadening the potential impact.

This operation is part of the energy transition at national and European level, contributing substantially to decarbonisation of the transport sector and the reduction of CO₂ emissions. It also supports the achievement of Italy’s targets for the production of pure biofuels, which under current legislation provides for a gradual increase in use from 300 000 tonnes per year in 2023 to one million tonnes by 2030.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. In the last five years, the EIB Group has provided more than €58 billion in financing for projects in Italy. All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation and adaptation, and a healthier environment. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower.

Eni is a global energy tech company operating in 64 Countries, with about 32.500 employees. Originally an oil & gas company, it has evolved into an integrated energy company, playing a key role in ensuring energy security and leading the energy transition. Eni’s goal is to achieve carbon neutrality by 2050 through the decarbonization of its processes and of the products it sells to its customers. In line with this goal, Eni invests in the research and development of technologies that can accelerate the transition to increasingly sustainable energy. Renewable energy sources, bio-refining, carbon capture and storage are only some examples of Eni’s areas of activity and research. In addition, the company is exploring game-changing technologies such as fusion energy – a technology based on the physical processes that power stars and that could generate safe, virtually limitless energy with zero emissions.

[1] In accordance with the EU Renewable Energy Directive

[2] IEA Renewables 2023 report, main case, analysis and forecast to 2028.

MIL OSI Europe News –

July 24, 2025

MIL-OSI Europe: Italy: EIB and Eni sign €500 million finance agreement to convert Livorno refinery into a biorefinery

Source: European Investment Bank

This will be Eni’s third biorefinery in Italy, after those in Venice and Gela.
Among the distinctive features of the project, in addition to the use of advanced technologies, there is the possibility of adapting the plant to also produce SAF (sustainable aviation fuel) in the future.
This initiative contributes to the European Union’s decarbonisation goals, with particular reference to the transport sector, and confirms Eni’s energy transition path.
The project is part of Enilive’s strategy to reach more than five million tonnes of biorefinery capacity by 2030.