Category: KB

  • MIL-OSI Australia: NTES crews deployed to QLD to assist with flood emergency

    Source: Northern Territory Police and Fire Services

    NT Emergency Service deployed 6 volunteers and 1 staff member to Queensland early Sunday, to assist with the current flood emergency unfolding in the far north.

    The region has been impacted by extreme rainfall, resulting in extensive flooding that is expected to continue for several days. Relief and recovery efforts will continue for weeks due to the extent of the flooding and damage across the region.

    The Queensland Government formally requested assistance from all jurisdictions throughout Australia on Tuesday afternoon, promoting a response from NTES who have arranged for a contingent to fly to Townsville commencing on Sunday.

    The team, consisting of volunteers and staff from Darwin, Palmerston, Nhulunbuy and Katherine will assist with relief and recovery tasks such as debris removal, community engagement, flood boat resupply and evacuation centre operations. 

    NT Fire and Emergency Services Commissioner, Andrew Warton, said the NT volunteers were highly trained and up for the task of helping their colleagues at QLD State Emergency Service.

    “Our dedicated volunteers and staff members are more than happy to step up and assist during this critical time,” he said.

    “Given the scale of the flooding emergency, the QLD SES has requested additional capacity to aid in the response efforts. Our first team of six will assist with a range of tasks that they’re well prepared and experienced in delivering”

    “While flooding is not uncommon in North Queensland, the vastness of this event and impact it has had on so many communities in the region is extremely challenging and has exhausted QLD SES resources – out thoughts are with all of those impacted and the selfless volunteers on the front line.”

    This deployment highlights the dedication and core values of NTES. Many of these individuals put their personal lives on hold to assist communities, as well as others in need during times of crisis.

    The recent formation of the NT Fire and Emergency Services, which combines the NT Fire and Rescue Service, NT Emergency Service, and Bushfires NT into one agency, enhances our ability to respond to emergencies while prioritising community resilience.

    Media contact:

    Rickie Abraham

    89239803

    MIL OSI News

  • MIL-OSI: Unaudited financial results of LHV Group for Q4 and 12 months of 2024

    Source: GlobeNewswire (MIL-OSI)

    The year-end was a successful one for LHV, supported by strong loan issue and deposit taking. The company met the profit target set in the financial plan.

    In 2024, AS LHV Group generated net revenue of 338.3 million euros, i.e., 11% more than in the previous year, thanks to strong business growth. Annual net interest income increased to 273.3 million euros (+8%) and net fee and commission income to 60.3 million euros (+24%). Consolidated expenditure for 2024 totalled 146.9 million euros, i.e., 14% higher than the previous year. The consolidated net profit of AS LHV Group in 2024 was 150.3 million euros, i.e., 9.4 million euros more than in 2023 (+7%).

    Of the subsidiaries, AS LHV Pank earned a total of 140.5 million euros in net profit in 2024, UK Bank Limited 5.8 million euros, AS LHV Varahaldus 1.6 million euros, and AS LHV Kindlustus 1.2 million euros.

    By the end of 2024, the consolidated assets of LHV Group increased to 8.74 billion euros, growing by 23% year-on-year, i.e., 1.64 billion euros. In Q4, the volume of assets increased by 12%.

    The consolidated loan portfolio of LHV increased by 990 million euros to 4.55 billion euros (+28%) in 2024. In Q4, the loan portfolio increased by 10%, i.e., 426 million euros. Corporate loans increased by 328 million euros over the quarter and retail loans by 98 million euros.

    The Group’s consolidated deposits grew by 1.18 billion euros over the year to 6.91 billion euros (+21%). In Q4, deposits increased by 624 million euros, i.e., 10%, while deposits of regular clients increased by 134 million euros.

    The total volume of funds managed by LHV increased by 39 million euros to 1.56 billion euros (+3%) over the year. In the last quarter of the year, the volume of funds increased by 37 million euros (+2%).

    The number of processed payments related to clients that were financial intermediaries amounted to 74.8 million payments in 2024 (+51% compared to 49.5 million payments in 2023). In Q4, 19.8 million such payments were made, i.e., 6% more than in Q3.

    In Q4 of 2024, AS LHV Group’s consolidated net profit amounted to 36.3 million euros, which is 1.6 million euros more than in Q3 (+5%). On a year-on-year basis, quarterly profit increased by 11%. AS LHV Pank earned 34.8 million euros in net profit in Q4. In the last quarter of the year, LHV Bank Ltd earned a net profit of 640 thousand euros, AS LHV Varahaldus 509 thousand euros, and AS LHV Kindlustus 68 thousand euros. The return on equity attributable to the shareholders of the Group was 22% in Q4.

    The Group’s consolidated net income increased by 2% in Q4 compared to the previous quarter of the year to 84.9 million euros. Net income was 1% higher than last year. Net interest income was generated at 66.6 million euros, and net fee and commission income at 17.3 million euros. Consolidated operating expenses were 40.8 million euros in Q4, which is 14% higher than in Q3 and 13% higher than a year earlier.

    Income statement, EUR thousand Q4-2024 Q3-2024 Q4-2023
       Net interest income 66 556 67 426 67 670
       Net fee and commission income 17 324 14 630 14 264
       Net gains from financial assets -198 799 480
       Other income 1 190 354 1 243
       Result from insurance activities 49 357 371
    Total revenue 84 921 83 566 84 029
       Staff costs -22 831 -19 499 -17 765
       Office rent and expenses -715 -801 -872
       IT expenses -4 270 -3 612 -4 067
       Marketing expenses -2 086 -1 298 -1 117
       Other operating expenses -10 885 -10 702 -12 366
    Total operating expenses -40 786 -35 911 -36 187
    EBIT 44 136 47 655 47 841
    Earnings before impairment losses 44 136 47 655 47 841
       Impairment losses on loans and advances -1 085 -7 277 -9 430
       Income tax -6 733 -5 681 -5 643
    Net profit 36 318 34 698 32 768
       Profit attributable to non-controlling interest 566 312 231
       Profit attributable to share holders of the parent 35 752 34 386 32 537
           
       Profit attributable to non-controlling interest 0.11 0.11 0.10
       Profit attributable to share holders of the parent 0.11 0.10 0.10
    Balance sheet, EUR thousand Dec 2024 Sep 2024 Dec 2023
       Cash and cash equivalents 3 818 305 3 376 016 3 119 394
       Financial assets 309 804 259 933 340 341
       Loans granted 4 591 906 4 168 778 3 591 517
       Loan impairments -39 813 -42 543 -29 725
       Receivables from customers 5 367 10 598 49 505
       Other assets 50 742 47 567 54 559
    Total assets 8 736 311 7 820 348 7 125 590
          Demand deposits 4 855 101 4 160 516 3 808 162
          Term deposits 2 055 009 2 125 844 1 922 843
          Loans received 927 686 679 550 563 634
       Loans received and deposits from customers 7 837 795 6 965 910 6 294 639
       Other liabilities 93 601 108 605 147 934
       Subordinated loans 126 257 106 079 126 652
    Total liabilities 8 057 653 7 180 595 6 569 225
    Equity 678 657 639 754 556 365
       Minority interest 8 571 8 006 7 937
    Total liabilities and equity 8 736 311 7 820 348 7 125 590

    LHV Group continued its rapid growth in 2024. The strong end to the year was influenced by a good level of client activity and higher than previous fee and commission income. The decline in interest income was mitigated by strong growth in the loan portfolio. Thanks to the good quality of the portfolio and the improvement in the macroeconomic situation, LHV reduced write-downs. The updated financial plan was accurately fulfilled by the end of the year.

    The number of clients of LHV Pank increased by 10,900 to 455 thousand clients in Q4. Over the year, the number of the bank’s clients increased by 38,000, i.e., more than 9%. At the end of the year, clients also actively used LHV’s banking services, and the decrease in interest income was offset by better fee and commission income, especially from investment banking. As interest income continues to be under pressure, the bank is paying attention to limiting costs by increasing efficiency. In this regard, LHV Pank announced layoffs in December, reducing the workforce by 44 people.

    The loan issue intensified in the last months of the year and, in Q4, the loan portfolio of LHV Pank increased by 300 million euros. The quality of the loan portfolio has remained stronger than planned, and write-downs on loans were reduced. The deposits of LHV Pank increased by 577 million euros in the last quarter of the year, of which 180 million euros came from deposits of regular clients and 450 million euros from financial intermediaries, and platform deposits were reduced. The bank is still keeping the focus on growing deposits. At the beginning of October, the bank also issued 250 million euros worth of covered bonds.

    At the beginning of December, The Banker magazine of the Financial Times declared LHV the best bank of the year in Estonia. Furthermore, Q4 included a review of several important cooperation projects: LHV will be the main sponsor of both Estonian football and the biathlon in the coming years.

    The loan portfolio of LHV Bank operating in the United Kingdom grew by more than half for the second quarter in a row. The loan portfolio increased by 126 million euros, while another 119 million euros of loans have been approved but not issued by the Credit Committee. The quality of the loan portfolio is generally strong. The volume of the deposits of LHV Bank increased by 70 million euros, with a total of nearly 11,600 depositors being involved. The volume of payments by financial intermediaries rose to record levels at the end of the year.

    In December, LHV Bank opened a new mobile bank for its first clients, through which private persons can open an account and make payments. Further, the offer and app will continue to be improved, and their wider introduction to the market will be held in order to attract deposits directly from retail clients.

    By the end of the year, the number of active clients of LHV Varahaldus making monthly contributions was 114,000. Nearly 14,000 of them submitted applications for larger contributions to the II pillar. Seasonally, contributions to the III pillar were actively made again. Operating income and expenses for the quarter remained at the level of the previous quarter. The profit was affected by a more modest financial income from the growth of the funds’ own units than before, but the financial plan still managed to be outpaced.

    The stock markets had a strong quarter driven by tech stocks and the U.S. market. The quarterly rate of return of the pension funds M and L managed by LHV was 1.0% and 0.6%, respectively, while XL decreased by 1.4% against the background of a weak December. The rate of return of the more conservative funds XS and S is 0.8% and 1.2%, respectively. Pensionifond Indeks increased by 4.2%; Pensionifond Roheline lost 5.7% in value over the quarter.

    For LHV Kindlustus, strong sales results, but also seasonally increased loss events, set the tone at the end of the year. The number of policies in force and clients is in a stable growth trend. A good sales result was shown by most types of insurance. Revenue from the insurance service continued to grow, while operating expenses increased. Gross losses increased a little faster compared to earned income. For the year as a whole, LHV Kindlustus earned 1.2 million from net profit and, thus, outperformed the financial plan.

    LHV Group’s annual cost/income ratio turned out to be 43.4%, and return on equity 24.5%. The Group’s liquidity and capitalisation remain strong. In November, LHV Group conducted a successful offering of subordinated bonds, raising 20 million euros in capital from investors. LHV Group will publish the 2025 financial plan and five-year forecast on 13 February.

    Comment by Madis Toomsalu, Chairman of the Management Board at LHV Group:
    “The changes taking place in the world are probably the biggest in the last half century. We are witnessing the growth of geopolitical ambitions, structural changes in the economy, the decline of free trade, and the exponential growth of technological development.

    Despite the different directions, 2024 was a successful year for LHV. After the supervisory exchange, we were able to restore the historically ambitious growth in business volumes. With a strong growth of 1 billion euros, i.e., 28% of the loan portfolio and a higher base interest rate, we achieved the highest business volumes and financial results in history.

    In Estonia, we have grown into the second largest bank in terms of corporate loans. At the same time, the volume of home loans and the insurance business are also growing rapidly. The number of the Estonian bank’s clients increased by 38,000 and activity increased in all the important areas. In the United Kingdom, the corporate loan portfolio already exceeded 300 million euros by the end of the year, which is why we are increasing our long-term expectations. This is also reflected in the mobile app launched at the end of the year.”

    To access the reports of AS LHV Group, please visit the website at: https://investor.lhv.ee/en/reports/.

    In order to present the financial results, LHV Group will organise an investor meeting via the Zoom webinar platform. The virtual investor meeting will take place on 11 February at 9.00, before the market opens. The presentation will be in Estonian. We kindly ask you to register at the following address: https://lhvbank.zoom.us/webinar/register/WN_UP-IqHxNSRSVeoKeUcTOfQ.

    LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,200 people. As at the end of December, LHV’s banking services are being used by nearly 460,000 clients, the pension funds managed by LHV have 114,000 active clients, and LHV Kindlustus is protecting a total of 170,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Priit Rum
    Communications Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee 

    Attachments

    The MIL Network

  • MIL-OSI China: Announcement on Open Market Operations No.26 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.26 [2025]

    (Open Market Operations Office, February 11, 2025)

    In order to keep liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB33 billion through quantity bidding at a fixed interest rate on February 11, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB33 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月11日

    MIL OSI China News

  • MIL-OSI United Nations: Secretary-General’s message on the International Day of Women and Girls in Science [scroll down for French version]

    Source: United Nations secretary general

    Ten years ago, the first International Day of Women and Girls in Science recognized a fundamental truth: women’s participation is essential for building a better world through science and technology. I saw that enormous potential firsthand when I was teaching engineering, and I saw the remarkable talent, creativity, and determination of countless women scientists.

    Yet today, women still represent just one-third of the global scientific community. Deprived of adequate funding, publishing opportunities and leadership positions in universities, women and girls continue to face an uphill battle in building careers in science, technology, engineering and math (STEM).

    Look no further than the development of new digital technologies. Men dominate the field at every level—including in Artificial Intelligence. The result is a surge of biased algorithms and embedded inequality, risking a new era of digital chauvinism.

    The more that women are excluded from STEM, the more we limit our collective power to address urgent global challenges, from climate change and food security to public health and technological transformation.

    We can and must do more to level the playing field

    By expanding scholarships, internships and mentorship opportunities to open doors for women and girls in STEM; creating workplaces that attract, retain and advance women in science; encouraging girls’ engagement in STEM from an early age; championing women leaders in science through the media; and dismantling gender stereotypes.

    The Pact for the Future, agreed last September by Member States, gives renewed momentum to these goals by committing to address barriers preventing the full, equal and meaningful access for women and girls in scientific fields.  

    On the tenth anniversary of this important day, and as we reflect on 30 years since the Beijing Declaration, let’s help pave a path to STEM careers that women and girls deserve – and our world needs.

    ***
    Il y a dix ans, la première Journée internationale des femmes et des filles de science consacrait une vérité fondamentale : la participation des femmes est essentielle pour bâtir un monde meilleur grâce à la science et à la technologie. J’ai pu constater par moi-même l’incroyable potentiel des femmes lorsque j’enseignais l’ingénierie, et j’ai vu le talent, la créativité et la détermination remarquables d’innombrables femmes de science.

    Or, à l’heure actuelle, les femmes ne représentent qu’un tiers des scientifiques dans le monde. Privées de financements adéquats, de possibilités de publication et de postes de direction dans les universités, les femmes et les filles ont encore d’innombrables obstacles à surmonter pour faire carrière dans le domaine des sciences, de la technologie, de l’ingénierie et des mathématiques (STIM).

    Pour s’en convaincre, il suffit d’observer le développement des nouvelles technologies numériques. Les hommes dominent le secteur à tous les niveaux, notamment dans l’intelligence artificielle. Il en résulte un déferlement d’algorithmes biaisés qui perpétuent des inégalités bien ancrées et risquent d’ouvrir une nouvelle ère de machisme numérique.

    Plus les femmes sont exclues des STIM, plus nous limitons notre capacité collective de relever les défis urgents qui se posent dans le monde, qu’il s’agisse des changements climatiques, de la sécurité alimentaire, de la santé publique ou de la transformation technologique.

    Nous pouvons et devons en faire plus pour que les femmes aient véritablement les mêmes chances que les hommes :

    Il nous faut élargir les programmes de bourses d’études, de stage et de mentorat afin d’ouvrir aux femmes la porte des STIM ; créer dans ce secteur des lieux de travail qui attirent et retiennent les femmes et dans lesquels elles peuvent progresser ; encourager les filles à s’engager sur la voie des STIM dès leur plus jeune âge ; promouvoir, dans les médias, le leadership des femmes dans le domaine de la science ; venir à bout des stéréotypes de genre.

    Le Pacte pour l’avenir, adopté par les États Membres en septembre dernier, crée une nouvelle dynamique pour la réalisation de ces objectifs. En effet, les États Membres s’y sont engagés à lever les obstacles qui empêchent les femmes et les filles d’accéder pleinement et véritablement, dans des conditions d’égalité, aux filières scientifiques.

    En ce jour où nous célébrons, pour la dixième année, cette importante journée, et alors que nous réfléchissons aux 30 années qui se sont écoulées depuis l’adoption de la Déclaration de Beijing, agissons pour que les femmes et les filles puissent mener, dans le domaine des STIM, les carrières qu’elles méritent – et dont le monde a besoin.

    MIL OSI United Nations News

  • MIL-Evening Report: Social media groups can offer support to new parents. Here’s how to tell if there’s marketing involved

    Source: The Conversation (Au and NZ) – By Nicole Bridges, Senior Lecturer in Public Relations and Director of Academic Program – Communication, Creative Industries, Screen Media, Western Sydney University

    Stock Rocket/Shutterstock

    For new parents struggling with challenges such as breastfeeding and sleep deprivation, social media can be a great place to turn for advice. Digital platforms such as Facebook and Reddit host a range of groups that offer peer support and information.

    Research shows connecting with other new parents can also foster a sense of community.

    But there is growing concern businesses and influencers may also be using groups to push certain products and services.

    In recent media reports, new parents have described feeling misled, after discovering the parent support group they thought was founded by a local mum was run by a media company owner and monetised through advertising.

    So how can you identify when commercial interests are involved?

    Here’s what to look out for to get the best from online parenting groups.

    How can social media groups help?

    In Australia, closed Facebook groups are a popular choice for parents accessing free peer support and information online. Closed groups are not public – they are run by administrators and moderators who can approve requests from other users for membership.

    These groups are often started by not-for-profit organisations or parents themselves and have a number of benefits. Parents can connect with others, share experiences, seek advice and learn about different parenting approaches.

    This can be particularly useful for people in remote and regional areas who may find it harder to access in-person support, and was essential during COVID lockdowns.

    My research with colleagues has revealed the important role these groups can play.

    In several studies we have looked at how parents use closed Facebook groups facilitated by the Australian Breastfeeding Association.

    Over four weeks, we tracked the frequency and type of posts, the number and nature of the comments, and how parents felt about the support they received in these groups.

    We found they provided information and emotional support group members could trust because they were facilitated by trained peer breastfeeding counsellors and other mothers.

    This is significant because we know lack of breastfeeding support is often cited by mothers as one of the key reasons for premature weaning.

    The group administrators played an important role responding to queries and making sure discussions stuck to the association’s code of ethics.

    This code encourages mutual respect, sharing evidence-based information, and co-operation with health professionals. It also discourages the promotion of products and services.

    Our research has shown the value of accessing trusted information and sharing experiences in a supportive community, where human connection is centred rather than products.

    Online groups can help parents connect to a community.
    AnnaStills/Shutterstock

    What’s the problem with monetising groups?

    When access to parenting support and information is limited or biased, it can have serious consequences for those already facing challenges with parenting.

    Let’s imagine an example. A group member is posting about birth trauma. But in responding, other members aren’t allowed to mention local service providers – for example, counselling – because they are not paid sponsors of the group.

    This means advice is skewed towards organisations that can afford to pay for sponsorship and be mentioned.

    As a result, new parents might not find out about the range of not-for-profit support groups that can help them with important challenges like breastfeeding and postpartum mental health.

    This deceptive practice can erode trust within online communities. Users may perceive the platform as prioritising profit over the wellbeing of its members, which can reduce engagement and the overall quality of the group.

    It may also leave new parents – who are particularly vulnerable to unethical marketing – open to exploitation.

    What can we do?

    Protecting parents from commercialised social media groups requires a multifaceted approach.

    First, regulation is crucial, such as ensuring that social media groups are transparent about any commercial interests, and commercial entities are marketing their products ethically.

    Second, we need public awareness campaigns to educate parents about the potential biases and risks associated with commercialised platforms. This includes fostering media literacy skills to critically evaluate information and identify reliable sources.

    Finally, collaboration between policymakers, researchers, industry representatives, and parent advocacy groups is vital to develop effective solutions that address these challenges.

    Parents may already be dealing with challenges such as sleep deprivation.
    Ground Picture/Shutterstock

    What should I look out for?

    To protect yourself from misinformation in online parenting groups, it’s crucial to be critical of information sources. It’s a good idea to:

    • watch out for warning signs like excessive product promotion, lack of transparency about group affiliations, and a primary focus on selling. For example, when joining a closed Facebook group, read the page’s “about” section. If there is mention of advertising or sponsorship, this is a red flag

    • look at who the “admins” are. If listed admins include business names that can also be a cause for concern

    • check out the list of “members”. If the group accepts “pages” (which are often run by businesses) in addition to individual people, this is also a sign that commercial interests are at play.

    • look for groups focused on sharing experiences, offering support, and building authentic relationships

    • observe how members interact and how heavily the groups are moderated and censored, and seek out groups with diverse perspectives

    • when you join the group, carefully consider the group rules that you are agreeing to and what they say about mentioning support services, and the promotion of commercial products. Will this mean that you may be censored or receive censored information?

    Always cross-reference information with reputable sources like government organisations (such as the Raising Children Network or Australian Breastfeeding Association) and compare information from multiple sources to get a balanced perspective.

    Finally, trust your instincts. If a group feels “off” or overly promotional, don’t hesitate to leave.

    Nicole Bridges is a volunteer breastfeeding counsellor and educator with the Australian Breastfeeding Association.

    ref. Social media groups can offer support to new parents. Here’s how to tell if there’s marketing involved – https://theconversation.com/social-media-groups-can-offer-support-to-new-parents-heres-how-to-tell-if-theres-marketing-involved-247212

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Australia improves on global corruption rankings, but there is still work to be done

    Source: The Conversation (Au and NZ) – By A J Brown, Professor of Public Policy & Law, Centre for Governance & Public Policy, Griffith University

    Australia has turned the corner on its decade-long slide on Transparency International’s annual Corruption Perceptions Index (CPI), once again ranking in the top ten least corrupt countries in the world. The fresh ranking comes just ahead of a federal election, which will determine the future of many key anti-corruption reforms.

    In the latest 2024 index, Australia rose two points to a score of 77 on the 100-point scale. The index is the world’s most widely cited indicator of how countries are faring in controlling corruption in government.

    The result confirms a positive trend, placing Australia back in the top 10 countries for the first time since 2016. It now sits at equal 10th alongside Iceland and Ireland.

    In 2012, Australia was ranked as the 7th least corrupt country in the world, with a score of 85 out of 100. But by 2021 it had fallen to a score of 73 and 18th place on the index.



    With that fall widely attributed to a decade of complacency and foot-dragging on efforts to bolster integrity in government, the confirmed recovery is a major affirmation of reforms of the past three years. It also highlights some stark choices for policymakers heading into the 2025 federal election.

    The best – and worst – places for corruption

    Globally, Denmark again tops the index with a score of 90, followed by Finland on 88. The most corrupt countries in the world are Venezuela (10), Somalia (9) and South Sudan (8).



    However, the global outlook is highly challenging. Over the past ten years, many more countries have now declined significantly in their anti-corruption scores (47 countries) than have improved on the index (32 countries).

    Australia’s recovery is therefore now bucking a negative trend, including the “integrity complacency” still affecting many other developed countries. The United Kingdom (71/100) and United States (65/100) have now fallen to their own lowest-ever scores on the index.

    The index is compiled from 13 independent surveys of professional and expert perceptions of public sector corruption across the world. Nine sources were used to inform Australia’s result – including include Freedom House, the World Justice Project and the World Bank’s Executive Opinion Survey.

    Two sources had Australia still declining, including the global academic-led Varieties of Democracy (V-Dem) Project. However, six sources rate Australia as improving, led by the Economist Intelligence Unit’s assessment, conducted most recently in September 2024.

    Australian reforms are making a difference

    There’s now little doubt that the federal integrity reforms of the past three years are a major reason for Australia’s new direction of travel. These include the creation of the National Anti-Corruption Commission in 2022, as well as the long overdue strengthening of Australia’s foreign bribery laws in 2024. A renewed commitment to the global Open Government Partnership, much of the response to Robodebt, and measures to strengthen merit in public appointments, such as replacement of the Administrative Appeals Tribunal, have also helped.

    Long overdue anti-money laundering laws were also introduced late in 2024, beyond the time frame for data collection for the latest index. While the impact of these on expert opinion will be known in the future, they highlight that much of the business of Australia’s anti-corruption “catch up” is unfinished and ongoing.



    The result poses a challenge for any policymakers suffering under the illusion that Australia’s integrity systems are somehow “fixed”.

    From an international perspective, Australia is yet to move to control secret and sham company ownerships – the major vehicle used to hide bribes and stolen public money. This is despite championing transparency in the beneficial ownership of companies since hosting the G20 in 2014.

    The need to bring transparency and integrity to federal political donation and funding laws continues to overshadow the last weeks of the 47th parliament. Negotiations between the major parties have failed to inspire confidence among independents, and much of the public.

    Effective control of undue influence in decision-making, pork-barrelling, professional lobbying and “revolving door” jobs for politicians and public servants are ongoing challenges.

    And in a clear signal to both the Labor government and the Coalition, a team of cross-benchers, led by independent Andrew Wilkie, have introduced a bill to establish a Whistleblower Protection Authority. This remains the single biggest gap in Australia’s integrity system and the most major anti-corruption reform still needed.

    Even before Australia hit its 2022 low, some leaders were softening citizens up to accept a reduced position on the index. In 2018, Coalition Attorney-General Christian Porter claimed Australia had remained “consistently in the top 20 countries on Earth for low corruption”. This prompted independent Rebekha Sharkie to point out that Australia had fallen from the top ten: “the trajectory is not good”.

    By contrast, Labor leader Anthony Albanese went into the last election accusing the Morrison government of dragging Australia down on corruption, and promising Labor would do better. He said:

    The health of our democracy, the integrity of our institutions, the transparency and fairness of our laws, the harmony and cohesion of our population. These aren’t just noble ideals. They are a powerful defence against the threat of modern authoritarianism.

    Amid the challenges, there is hope. The federal parliament’s reform record of the past three years is clearly a big step in the right direction.

    However, the climb back to 77 on the Corruption Perceptions Index shows it’s clearly just the first step in securing Australia’s reputation as a democracy that protects itself against undue influence and abuse of power.



    A J Brown AM is Chair of Transparency International Australia. He has received funding from the Australian Research Council and all Australian governments for research on public interest whistleblowing, integrity and anti-corruption reform through partners including Australia’s federal and state Ombudsmen and other regulatory agencies, parliaments, anti-corruption agencies and private sector bodies. He was a member of the Commonwealth Ministerial Expert Panel on Whistleblowing (2017-2019) and is a member of the Queensland Public Sector Governance Council.

    ref. Australia improves on global corruption rankings, but there is still work to be done – https://theconversation.com/australia-improves-on-global-corruption-rankings-but-there-is-still-work-to-be-done-249458

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Murray, Blumenthal, Senate Democrats Demand VA Secretary Collins Step Up and Defend Veterans’ Private Information from Elon Musk

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former chair of the Senate Veterans’ Affairs Committee, joined Senate Veterans’ Affairs Committee Ranking Member Richard Blumenthal (D-CT) and 25 other Democratic senators in calling on Department of Veterans Affairs (VA) Secretary Doug Collins to take immediate actions to secure veterans’ personal information provided by VA or other agencies to Elon Musk and his “Department of Government Efficiency” (DOGE). This call follows Musk’s takeover of the U.S. Treasury’s payment system, which includes private information of veterans and their families, and reports of DOGE employees accessing VA computer systems at the Department’s headquarters in Washington, D.C.
    In a letter to Collins, Murray and the other senators demanded the Secretary deny and sever Musk and DOGE’s access to any VA or other government system with information about veterans, and to delete any veterans’ information in their possession: “Among many tasks, the Secretary of the Department of Veterans Affairs (VA) is entrusted with safeguarding the private and sensitive information of millions of veterans…Veterans risked their lives to defend our country, and they deserve better than to have an unelected billionaire reviewing their medical records, targeting the benefits they have earned, or using their private information for personal gain.”
    The senators underscored the vast amounts of veterans’ private, sensitive information entrusted to VA, at-risk of being abused by Musk and DOGE: “Our nation’s veterans have entrusted their health records, including genetic samples, disability data, bank information, and other private information, to VA. The Department also stores sensitive veteran casework, files of whistleblowers who have come forward with concerns about waste, fraud, and abuse, and sensitive investigative files with veteran and federal employee information.”
    The senators continued stressing their concerns of Musk and DOGE’s ability to freely access this information with no transparency or accountability mechanisms: “Meanwhile, the President has given unfettered access to federal databases and systems to Mr. Musk, an unelected citizen, and a team of colleagues with no formal documented employment agreement with the U.S. government. It is a group of private citizens with no experience in the federal government, who lack proper approval from legal and agency authorities, lack the appropriate security clearances, and lack the requisite background investigations or ethical conflict requirements. We are outraged these unelected, unvetted, and unaccountable individuals now have access to sensitive information that has been heavily secured for decades and by Administrations of both parties.”
    There are millions of veterans’ medical records stored in VA’s computer systems. These confidential records include veterans’ prescriptions, diagnoses, and procedures they have undergone. Access to these medical records could give Musk and DOGE the ability to identify veterans who have received abortions or abortion counseling in the past. The Million Veteran Program, which manages the genomic data of its more than one million veteran participants for authorized research programs, also stores its data in VA data systems. In addition, the U.S. Treasury’s payment system stores private information of veterans, surviving spouses, and their families, including their monthly disability compensation amount, home address, and bank account numbers.
    Calling on VA Secretary Collins to uphold the promises he made to Senators during his confirmation process, the group of senators concluded: “During your confirmation process, you claimed you would be focused on rooting out corruption and ensuring accountability at VA, and committed to following the laws passed by Congress. We now call on you to respond quickly and comprehensively to these privacy violations by revoking DOGE’s access to VA systems and insisting they permanently remove all VA data collected from their files.”
    In addition to Senators Murray and Blumenthal, the letter was signed by Senate Minority Leader Chuck Schumer (D-NY) and U.S. Senators Raphael Warnock (D-GA), Tim Kaine (D-VA), Chris Van Hollen (D-MD), Ed Markey (D-MA), Jeanne Shaheen (D-NH), Jeff Merkley (D-OR), Ben Ray Luján (D-NM), Tina Smith (D-MN), Elizabeth Warren (D-MA), Michael Bennet (D-CO), Bernie Sanders (I-VT), Jack Reed (D-RI), Ron Wyden (D-OR), Dick Durbin (D-IL), Jacky Rosen (D-NV), Catherine Cortez Masto (D-NV), Chris Murphy (D-CT), Mark Kelly (D-AZ), Angus King (I-ME), Tammy Duckworth (D-IL), Tammy Baldwin (D-WI), Mark Warner (D-VA), and Martin Heinrich (D-NM).
    The full text of the Senators’ letter is available here and below.
    Dear Secretary Collins,
    Among many tasks, the Secretary of the Department of Veterans Affairs (VA) is entrusted with safeguarding the private and sensitive information of millions of veterans. Today, we call on you to immediately secure any personal and related information regarding veterans provided by VA or other agencies to Elon Musk and associates under the auspices of the “Department of Government Efficiency” established under Executive Order 14158. Further, we call on you to deny and sever their access to any VA or other government system that includes information about veterans, and to require them to immediately and permanently delete any information in their possession. Veterans risked their lives to defend our country, and they deserve better than to have an unelected billionaire reviewing their medical records, targeting the benefits they have earned, or using their private information for personal gain.
    Our nation’s veterans have entrusted their health records, including genetic samples, disability data, bank information, and other private information, to VA. The Department also stores sensitive veteran casework, files of whistleblowers who have come forward with concerns about waste, fraud, and abuse, and sensitive investigative files with veteran and federal employee information. Veterans and VA employees entrusted the Department with this information with the understanding that it would be kept private and only used to help deliver the highest quality of services to veterans, their families, and survivors.
    Meanwhile, the President has given unfettered access to federal databases and systems to Mr. Musk, an unelected citizen, and a team of colleagues with no formal documented employment agreement with the U.S. government. It is a group of private citizens with no experience in the federal government, who lack proper approval from legal and agency authorities, lack the appropriate security clearances, and lack the requisite background investigations or ethical conflict requirements. We are outraged these unelected, unvetted, and unaccountable individuals now have access to sensitive information that has been heavily secured for decades and by Administrations of both parties.
    These actions are in direct violation of federal laws meant to protect our national security and the privacy of our citizens’ personal information. This includes information on Social Security payments, Medicare, Medicaid, student loans, veterans’ disability compensation payments, GI Bill payments, federal civil servants’ personnel records, and much more. With every hour, we see DOGE further expand its efforts to create a massive private database of previously guarded data outside the federal government’s cyber and legal protections. It is an abhorrent and illegal overreach of executive powers, which conflicts with various federal statutes, including the Federal Information Security Modernization Act, the Privacy Act, the E-Government Act of 2002, and likely several other cyber and national security laws.
    During your confirmation process, you claimed you would be focused on rooting out corruption and ensuring accountability at VA, and committed to following the laws passed by Congress. We now call on you to respond quickly and comprehensively to these privacy violations by revoking DOGE’s access to VA systems and insisting they permanently remove all VA data collected from their files.

    MIL OSI USA News

  • MIL-OSI USA: Murray, Merkley, Heinrich Lead Western Senators in Letter to Interior Secretary, Acting Agriculture Secretary: Trump’s Illegal Funding Cuts Threaten Wildfire Mitigation Efforts

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, joined Senators Jeff Merkley (D-OR), Ranking Member of the Senate Appropriations Subcommittee that funds the Department of the Interior and Department of Agriculture’s Forest Service, and Senator Martin Heinrich (D-NM), Ranking Member of the Senate Committee on Energy and Natural Resources, and other Western U.S. Senators in sounding the alarm over reports the Bureau of Land Management issued stop work orders to small businesses and organizations across America related to the removal of hazardous fuels in our public lands and rumors of forthcoming stop work orders at the United States Forest Service. Delaying these treatments even for a short period can mean missing out on the right seasonal and weather conditions for safely treating hazardous fuels. 

    The senators’ letter—addressed to recently confirmed Interior Secretary Doug Burgum and Acting Agriculture Secretary Gary Washington—follows President Donald Trump’s illegal executive orders cutting federal funds to mitigate and fight wildfires and comes as communities nationwide prepare for wildfire season.

    “Catastrophic wildfires across the United States are an ongoing national crisis and responding to them must be a national priority. These stop work orders and funding freezes jeopardize communities that depend on a robust federal response to our wildfire crisis – and also jeopardize small businesses, often in frontier and rural communities, that are contracted to do the work on the ground to reduce hazardous fuels,” wrote the senators.

    “As we’ve seen with the recent fires surrounding Los Angeles, wildfire does not distinguish between homes and trees. But we do have ways to mitigate the risk,” the senators continued. “One of the most effective strategies to reduce that risk is to reduce the hazardous natural fuels that surround our communities. These fuels reduction projects save lives and property, reduce the danger to firefighters, and return our lands to a fire-adapted ecosystem that can better withstand the threat to human life, communities, infrastructure, and property.  

    “By terminating or even pausing these projects, all of the progress made at protecting these communities is at risk. We are imploring you to rescind the order to stop work on these hazardous fuels reduction efforts, as well as any other wildland fire management programs that are working to reduce risk and safeguard communities from catastrophic wildfire,” the senators concluded.

    The letter was also signed by U.S. Senators Michael Bennet (D-CO), Maria Cantwell (D-WA), Catherine Cortez Masto (D-NV), Ruben Gallego (D-AZ), John Hickenlooper (D-CO), Mark Kelly (D-AZ), Ben Ray Luján (D-NM), Alex Padilla (D-CA), Jacky Rosen (D-NV), Adam Schiff (D-CA), and Ron Wyden (D-OR).

    Full text of the letter is HERE and below:

    Dear Secretary Burgum and Acting Secretary Washington,

    We are writing with great concern about reports from our constituents that the Bureau of Land Management has issued stop work orders for hazardous fuels reduction projects. We are further concerned that fuels projects overseen by the U.S. Forest Service will be next. These projects are integral to increased safety and resiliency and any delay in implementation puts those communities at greater risk. We urge you to immediately rescind these stop work orders, halt any further stop work orders or funding freezes, and instead work with the tools and funds Congress has provided to better safeguard our communities from the serious risk of catastrophic wildfire.

    These projects are part of the Wildfire Crisis Strategy, funded by the Infrastructure and Investment in Jobs Act (IIJA) and the Inflation Reduction Act (IRA). Investing in fuels reduction treatments is a primary recommendation in the Wildland Fire Mitigation and Management Commission Report, a nonpartisan strategy document to tackle the myriad challenges associated with wildfire across the country. We also note with alarm that this report was removed from federal websites this week.

    In 2022, the Forest Service identified high-risk firesheds across the country to be prioritized for hazardous fuels reduction work through the Wildlife Crisis Strategy and Implementation Plan. The Forest Service chose 10 high-priority landscapes with the enactment of IIJA and an additional 11 landscapes with the enactment of IRA – each of these landscapes require significant investment to reduce wildfire risk. These 21 landscapes were awarded a total of $1.73 billion to protect at-risk communities, critical infrastructure, public water sources, and adjacent Tribal lands in 10 Western states: Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, and Washington. The Bureau of Land Management, Forest Service, States, Tribes, local stakeholders, and small businesses have been working together over the last three years to implement fuels reduction on these landscapes.

    Catastrophic wildfires across the United States are an ongoing national crisis and responding to them must be a national priority. These stop work orders and funding freezes jeopardize communities that depend on a robust federal response to our wildfire crisis – and also jeopardize small businesses, often in frontier and rural communities, that are contracted to do the work on the ground to reduce hazardous fuels. 

    In addition to endangering communities, the President’s Executive Orders freezing funding are flagrantly illegal. The Government Accountability Office, the Department of Justice Office of Legal Counsel (including in an opinion written by future Chief Justice of the Supreme Court, William H. Rehnquist), and the Supreme Court of the United States have all disavowed the notion of some “inherent Presidential power to impound,” as some in the Administration, as well as pending Administration nominees, have tried to argue without legal or textual basis.

    Not only does the Constitution vest the power of the purse with Congress and provide no power to the President to impound funds, but there have been several bedrock fiscal statutes enacted to protect Congress’ constitutional power of the purse and prevent unlawful executive overreach, including the Antideficiency Act and the Impoundment Control Act of 1974 (ICA). The ICA prohibits any action or inaction that precludes Federal funds from being obligated or spent, either temporarily or permanently, without following the strictly circumscribed requirements of that law, which have not been honored in this instance.

    As we’ve seen with the recent fires surrounding Los Angeles, wildfire does not distinguish between homes and trees. But we do have ways to mitigate the risk. One of the most effective strategies to reduce that risk is to reduce the hazardous natural fuels that surround our communities. These fuels reduction projects save lives and property, reduce the danger to firefighters, and return our lands to a fire-adapted ecosystem that can better withstand the threat to human life, communities, infrastructure, and property.  

    By terminating or even pausing these projects, all of the progress made at protecting these communities is at risk. We are imploring you to rescind the order to stop work on these hazardous fuels reduction efforts, as well as any other wildland fire management programs that are working to reduce risk and safeguard communities from catastrophic wildfire.

    We hope to work with you to combat the scourge of catastrophic wildfire.

    MIL OSI USA News

  • MIL-OSI USA: Senator Murray Statement on Trump Dismantling Department of Education’s Research Arm

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), a senior member and former Chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, issued the following statement on the Trump administration and Elon Musk gutting the U.S. Department of Education’s Institute of Education Sciences (IES).

    “Every kid deserves a great public education and that can’t happen without nonpartisan research and data to understand what’s working and what needs to be fixed. Instead, an unelected billionaire is now bulldozing the research arm of the Department of Education—taking a wrecking ball to high-quality research and basic data we need to improve our public schools. Cutting off these investments after the contract has already been inked is the definition of wasteful.

    “Elon Musk doesn’t care if working class kids in America get a good education, so whittling down the Department of Education means nothing to him. Make no mistake, this is just the first step Trump and Musk are taking to abolish the Department of Education, leaving our public schools with fewer resources and support to pay for massive tax cuts for billionaires and giant corporations. This former preschool teacher refuses to roll over and let Elon Musk gut public education in America. I’ll be sounding the alarm with every parent, student, and teacher who believes in public education to stand up to Elon and Trump’s illegal power grab.”

    A senior member and former chair of the HELP Committee, Senator Murray has championed students and families at every stage of her career—fighting to help ensure every child in America can get a high-quality public education. Among other things, Senator Murray negotiated the bipartisan Every Student Succeeds Act (ESSA), landmark legislation that she got signed into law, replacing the broken No Child Left Behind Act. As a longtime appropriator, she has successfully fought to boost funding to support students and invest in our nation’s K-12 schools, and she has secured significant increases to the Pell Grant so that it goes further for students pursuing a higher education. Senator Murray also led the Foundations for Evidence-Based Policymaking Act of 2018, landmark legislation on the use and development of evidence and data in federal policymaking across federal agencies.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: Youth employment expo to be held

    Source: Hong Kong Information Services

    The Labour Department will hold the Youth Employment Expo in Wan Chai on February 15, with more than 1,200 on-the-job training vacancies on offer for young people aged 29 or below to work locally and in the Greater Bay Area (GBA) Mainland cities.

     

    The expo is an event jointly organised by the Greater Bay Area Youth Employment Scheme, the Youth Employment & Training Programme (YETP) and the Youth Employment Start (Y.E.S.) 

     

    A total of 47 organisations from various industries, including airline services, hotels, banking, public services, retail, transport, construction, catering, tourism, security and technology, will join the expo.

     

    The event will be held from 11am to 6pm at the Convention & Exhibition Centre and admission is free. Young job seekers can submit applications on-site and may be selected for on-the-spot interviews.

     

    Additionally, the expo features career talks, sharing sessions, course introduction and demonstration of the programmes, employment consultation, interview preparation consultation and resume photo shooting. Plus, singers plan to share their stories of pursuing their own career developments.

     

    Furthermore, the Youth Entrepreneurship Bazaar will also be run by business members of Y.E.S. at the expo, selling a diverse range of handcrafted and innovative products.

     

    Last year’s Policy Address announced measures to strengthen employment services and support for young people from this year, including relaxing the eligibility requirements for the GBA Youth Employment Scheme to allow young people aged 29 or below with sub-degree or higher qualifications to join the scheme and increasing the allowance granted to enterprises.

     

    Moreover, the upper age limit for YETP participants has been raised to provide employment support services to young people aged 15 to 29 with sub-degree or below qualifications.

     

    Click here for more details about the expo.

    MIL OSI Asia Pacific News

  • MIL-OSI New Zealand: 2025 Pacific Judicial Conference

    Source: New Zealand Governor General

    Rau rangatira mā, e huihui nei, tēnei aku mihi nui ki a koutou. Nau mai haere mai ki Te Whare Kawana o Tāmaki Makaurau. Kia ora tātou katoa.

    I’d like to specifically acknowledge: Rt Hon Dame Helen Winkelmann, Chief Justice of New Zealand, and Rt Hon Winston Peters, Deputy Prime Minister.

    And to all our very distinguished international guests here this evening – including representatives from 15 Pacific Island nations, as well as Singapore, Malaysia, Brunei Darussalam, the Philippines, Australia, the United Kingdom, and the United States of America. I’m delighted to note that Chief Justice of the Federal Court of Australia, The Honourable Debra Mortimer, is in fact a New Zealander from Kaipara.

    I understand that the last Pacific Judicial Conference to be held in Aotearoa New Zealand was over ten years ago, in 2014, when my predecessor, Sir Jerry Mateparae, hosted an equivalent gathering here at Government House Auckland. It feels especially fitting that this conference should return to Tāmaki Makaurau, this beautiful city, and one of the world’s most diverse, which has long borne the mantle of Polynesian Capital of the World.

    Such a diverse and distinguished gathering no doubt brings with you an immense breadth of experiences, perspectives, and areas of legal expertise.

    It was former American Chief Justice, Earl Warren, who once said: ‘It is the spirit and not the form of the law that keeps justice alive.’ As leaders of your respective and highly-diverse judiciaries, I’m sure you find yourselves grappling with many of the same issues: safeguarding judicial independence and respect for the rule of law; the opportunities and dangers of technology; ensuring diversity within the judiciary; geopolitical unrest; and the ongoing existential threat of climate change – all topics I’m heartened to note on the agenda for this conference.

    Its overarching theme, ‘Strengthening the Institution of the Judiciary – Kia Tū Pakari ai te Whare Whakawā’, feels particularly apt in the face of such issues – acknowledging, as it does, that without strong and trusted public institutions, society loses its capacity to meet and overcome these challenges.

    I trust that these days together afford an environment conducive to rich and challenging discussions, and lay the foundation for lasting relationships and productive collaboration across your judiciaries.

    Throughout my own career, straddling both academia and the public sector, I recall how enriching and rewarding I found these kinds of gatherings – leaving me so often deeply inspired, and filled with a renewed sense of purpose as I returned to my role, whether leading a university, or advocating for the wellbeing of children and families.

    In this next stage of my career, serving as New Zealand’s Governor-General, I have found myself with my own responsibilities in the application and safeguarding of New Zealand law: responsibilities I hold most sacred. They have also given me a new and profound appreciation for the judiciary, and the demanding work you do in the service of society.

    The questions that you contend with fundamentally shape the world we inhabit and share: determining whether or not our societies are fair; whether or not people are treated equally, regardless of gender or beliefs or background; and whether or not our planet will survive.

    I acknowledge, in grappling with these questions through the application of the law and your own scrupulous intellectual and moral standards, the great and often lonely responsibility you each bear. However, I have little doubt that you view that responsibility, and your service to your respective countries, not as a burden, but a privilege.

    In te reo Māori, we have a whakataukī, or a proverb, which says: ‘Ka kuhu au ki te ture, hei matua mō te pani. I seek refuge in the law for it is a parent to the oppressed.’ I wish to take this opportunity to thank you, for all that you do as parents of the oppressed, and our societies’ upholders of goodness, fairness, and justice.

    I also wish to once again thank Dame Helen – our own outstanding Chief Justice – for so graciously stepping into the Administrator’s role whenever I have been fulfilling my vice-regal duties overseas.

    To those of you visiting New Zealand for the first time, I hope you have the opportunity to experience a little more of our country while you are here, and to spend some time exploring this beautiful city. In the meantime, I wish you all a most rewarding and enjoyable few days.

    Nō reira, tēnā koutou, tēnā koutou, tēnā tātou katoa.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Experts chosen for electricity market review

    Source: New Zealand Government

    The Government has appointed independent experts to review the performance of the electricity markets, Energy Minister Simon Watts and Associate Energy Minister Shane Jones say.

    “The power crisis we experienced last winter highlighted how important affordable and secure electricity at internationally competitive prices is to the economic growth and prosperity of Kiwi households and businesses alike,” Mr Watts says.

    “Energy security is a top priority for the Coalition Government as the economy electrifies and we work to double New Zealand’s renewable electricity generation. We expect to see market-led approaches to energy security throughout the transition, and we want to make sure the markets are performing effectively.

    “This review will help ensure our regulatory settings can deliver on the long-term interests of consumers, keep prices down for Kiwis and keep the lights on.

    “From the review’s inception, we were clear that we needed experts capable of bringing a fresh perspective to the complex challenges facing our markets. Those chosen are well-qualified with significant expertise in international electricity market design, risk management, competition policy and financial instruments.”

    Mr Jones says New Zealand cannot afford another winter like 2024 in which businesses shut down, manufacturing ground to a halt, and cheap coal was brought in from overseas kept the lights on.

    “If we are to grow the economy, we cannot allow a shortage of power to stunt that growth. We are a resourceful nation and our businesses have to be able to continue without worrying whether they can afford the power bill or having to choose between shutting down production or keeping staff.”

    Global consultancy Frontier Economics will be the lead reviewer, addressing the seven questions specified in the review’s terms of reference.

    The two peer review roles will be taken on by a team of international experts in energy economics with particular expertise in market design. The peer reviewers will provide an added layer of quality assurance and accuracy to ensure the review reports are robust and reliable.

    New Zealand-based Concept Consulting will act as New Zealand expert advisor, responsible for ensuring Frontier Economics has solid awareness and understanding of the New Zealand context.

    “Collectively, these independent experts bring a wealth of experience, insight, and the fresh perspectives needed for this type of review,” Mr Watts says.

    Ministers expect the review’s final reports to be delivered by the end of June, after which Cabinet will make decisions on next steps.

    MIL OSI New Zealand News

  • MIL-OSI Australia: Discover what the World Heritage Listing bid for Victorian Goldfields means at a public talk

    Source: State of Victoria Local Government 2

    The Victorian Goldfields has been officially included on the UNESCO World Heritage Tentative List and the community can learn more about what this means at a public talk next week.

    The public talk is on Monday February 17 from 6pm to 7.30pm at the La Trobe Art Institute, View Street, Bendigo. It is focused on informing the community and local businesses about the positive outcomes if the World Heritage bid is successful.

    The Victorian Goldfields are the most extensive, coherent, and best-surviving goldrush landscapes in the world. Obtaining a World Heritage listing is a proven catalyst for new opportunities as seen elsewhere, such as the Great Barrier Reef. The status can lead to immediate and long-term benefits, including investment, tourism, and jobs.

    The public talk includes a presentation from the City of Greater Bendigo World Heritage Strategic Projects Officer Trevor Budge who is on the World Heritage Bid Project Team.

    There will also be a panel discussion with Euan McGillivray from the Bendigo Historical Society, Chair Bendigo Tourism Board Kath Bolitho, CEO Bendigo Heritage Attractions James Reade, City of Greater Bendigo Manager Economy & Experience James Myatt, and Bendigo Branch President of the National Trust Peter Cox.

    World Heritage Strategic Projects Officer Trevor Budge said the tentative listing acknowledged the significance of the Victorian Goldfields.

    “The public talk will explain why the Victorian Goldfields are worthy of world recognition, what steps are needed to be ready for the possible final designation in mid 2027, and how the community and businesses can be further involved in this nomination,” Mr Budge said.

    “With the support of Traditional Owners, we’re working on a confirmed list of places that ensures the best examples of the lasting legacy of the Victorian Goldfields are celebrated and that this critical piece of Australia’s history is conserved and shared with future generations.

    “If this bid succeeds, the benefits for Greater Bendigo and other places in the Victorian Goldfields will be far reaching with a significant increase in tourism from across the world wanting to experience our gold rush story. The economic modelling forecasting estimates a Victorian Goldfields World Heritage site could attract 2.5 million new visitors to the region over 10 years, injecting more than $500M into local economies.”

    National Trust Bendigo Branch President Peter Cox said the public talk was a wonderful way for the community to hear about the extraordinary outcomes that could flow from a permanent World Heritage listing.

    “Thousands of extra visitors will boost economic activity, create new jobs and investment throughout Victoria with heritage being promoted in many small and large towns. Bendigo’s urban settlement displays many homes from the gold rush era, its architecture of grand buildings is world renowned, and it has many attractions based on tourism that depicts 19th century history.” Mr Cox said.

    Getting the Victorian Goldfields on the Tentative List was critical, as Australia can only make one nomination to UNESCO per year and there are many other places from around Australia that were being considered.

    The City of Greater Bendigo, City of Ballarat and 13 other local government authorities are involved in the listing bid with support from Traditional Owners.

    To register your attendance, please email or SMS:

    [email protected]

    0447 473 674

    MIL OSI News

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 11, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 2,00,000
    Total amount of bids received (in ₹ crore) 2,03,022
    Amount allotted (in ₹ crore) 2,00,036
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.27
    Partial Allotment Percentage of bids received at cut off rate (%) 97.01

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2126

    MIL OSI Economics

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Ends the Procurement and Forced Use of Paper Straws

    Source: The White House

    ENDING THE FORCED USE OF PAPER STRAWS: Today, President Donald J. Trump signed an Executive Order to end the procurement and forced use of paper straws.

    • The Federal government is directed to stop purchasing paper straws and ensure they are no longer provided within Federal buildings.
    • The Order requires the development of a National Strategy to End the Use of Paper Straws within 45 days to alleviate the forced use of paper straws nationwide.

    BRINGING BACK COMMON SENSE: The irrational campaign against plastic straws has forced Americans to use nonfunctional paper straws. This ends under President Trump.

    • Cities and states across America have banned paper straws, caving to pressure from woke activists who prioritize symbolism over science.
    • Paper straws use chemicals that may carry risks to human health – including “forever chemical” PFAS (per- and polyfluoroalkyl substances) which are known to be highly water soluble and can bleed from the straw into a drink.
      • A study found that while PFAS were found in paper straws, no measurable PFAS were found in plastic straws. 
    • Paper straws are more expensive than plastic straws, and often force users to use multiple straws.
    • Paper straws are not the eco-friendly alternative they claim to be – studies have shown that producing paper straws can have a larger carbon footprint and require more water than plastic straws.
    • Paper straws often come individually wrapped in plastic, undermining the environmental argument for their use.

    PROMOTING A CLEAN AND HEALTHY ENVIRONMENT: President Trump has made it a top priority to promote a clean and healthy environment for the American people.

    • President Trump’s policies are promoting economic growth, while still maintaining standards that allow Americans to have among the cleanest air and water in the world.
    • This marks a sharp contrast from the previous Administration, which wasted American taxpayer dollars on virtue signaling instead of implementing effective solutions.
      • For instance, the Biden Administration spent billions on electric vehicle charging stations, yet only eight were completed.
    • Meanwhile, President Trump’s commonsense approach to environmental conservation has demonstrated his true commitment to preserving America’s natural resources.
    • President Trump has championed improved forest management in order to prevent forest fires that are devastating communities and ecosystems across the country.
    • By pausing the expansion of windmills, President Trump recognized their detrimental environmental impact, particularly on wildlife, often outweighs their benefits.
    • President Trump signed the Save Our Seas Act to preserve and protect our beautiful waters and oceans from being littered with garbage.  
    • President Trump is committed to securing American energy independence, recognizing that America’s domestic supply of clean coal and natural gas not only strengthens national security but also provides some of the cleanest energy in the world.

    MIL OSI USA News

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Eliminates the Federal Executive Institute

    Source: The White House

    ELIMINATING INEFFICIENCY AND BUREAUCRACY: Today, President Donald J. Trump signed an Executive Order to eliminate the Federal Executive Institute, a government program purportedly designed to provide bureaucratic leadership training.

    • The Order directs the Office of Personnel Management to take all necessary steps to terminate the Federal Executive Institute and revokes the appropriate documents.

    ENSURING EVERY TAX DOLLAR WORKS FOR THE AMERICAN PEOPLE: President Trump is committed to ensuring that government serves the American people, rather than itself, which requires a complete shift in government leadership toward reducing waste and promoting efficient service to taxpayers.

    • The Federal Executive Institute was created by the Johnson Administration more than 50 years ago to provide leadership training to government bureaucrats.
    • Bureaucratic leadership over the past half-century has enlarged and entrenched Washington, D.C.’s managerial class, a bloated system far removed from the needs of American families. New leadership is needed.
    • The Federal Executive Institute includes a resort property in Charlottesville, VA, that was formerly a luxury hotel, which is used for bureaucracy training courses.

    DISMANTLING GOVERNMENT BUREAUCRACY: Eliminating the Federal Executive Institute is part of President Trump’s broader mission to reform the federal bureaucracy, including by ending ineffective government programs that drain resources and empower government without achieving measurable results.

    • The government wastes billions of dollars each year on duplicative programs and frivolous expenditures that fail to align with American values or address the needs of the American people.
    • President Trump temporarily paused foreign aid to many non-governmental organizations, international organizations, and contractors to ensure every dollar of U.S. foreign assistance supports American values.
    • President Trump established the “Department of Government Efficiency” to examine how to streamline the Federal government, eliminate unnecessary programs, and reduce bureaucratic inefficiency.

    President Trump launched a 10-to-1 deregulation initiative, ensuring every new rule is justified by clear benefits

    MIL OSI USA News

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Restores American Competitiveness and Security in FCPA Enforcement

    Source: The White House

    ELIMINATING UNDUE BARRIERS TO U.S. SUCCESS: Today, President Donald J. Trump signed an Executive Order to restore American competitiveness and security by ordering revised, reasonable enforcement guidelines for the Foreign Corrupt Practices Act (FCPA) of 1977.

    • The Order directs the Attorney General to pause FCPA actions until she issues revised FCPA enforcement guidance that promotes American competitiveness and efficient use of federal law enforcement resources.
      • Past and existing FCPA actions will be reviewed.
      • Future FCPA investigations and enforcement actions will be governed by this new guidance and must be approved by the Attorney General.

    AMERICAN SECURITY REQUIRES AMERICAN ECONOMIC STRENGTH: American national security depends on America and its companies gaining strategic commercial advantages around the world, and President Trump is stopping excessive, unpredictable FCPA enforcement that makes American companies less competitive.

    • U.S. companies are harmed by FCPA overenforcement because they are prohibited from engaging in practices common among international competitors, creating an uneven playing field.
    • Strategic advantages in critical minerals, deep-water ports, and other key infrastructure or assets around the world are critical to American national security.
    • FCPA overenforcement infringes upon the President’s Article II authority to conduct foreign affairs, necessitating this review and new enforcement policies.
    • Over time, FCPA interpretation and enforcement by U.S. prosecutors has broadened, imposing a growing cost on our Nation’s economy.
      • In 2024, the DOJ and SEC filed 26 FCPA-related enforcement actions, and at least 31 companies were under investigation by year end.
      • Over the past decade, there has been an average of 36 FCPA-related enforcement actions per year, draining resources from both American businesses and law enforcement.

    PUTTING AMERICA FIRST: President Trump is committed to prioritizing American economic and security interests and ensuring U.S. businesses have the tools to succeed globally.

    Since returning to office, President Trump has signed several executive actions aimed at enhancing American economic competitiveness, including an Executive Order to strengthen U.S. leadership in artificial intelligence (AI) and tariffs on Mexico, Canada, and China to protect the American people.   a 10-to-1 deregulation initiative, ensuring every new rule is justified by clear benefits

    President Trump renegotiated trade deals, including the United States-Mexico-Canada Agreement (USMCA) to secure better terms for American workers and businesses.

    President Trump has worked to cut burdensome regulations that hinder U.S. businesses, ensuring they can operate efficiently and competitively on the world stage.

    President Trump: “We have to save our country. Every policy must be geared toward that which supports the American worker, the American family, and businesses, both large and small, and allows our country to compete with other nations on a very level playing field…”

    MIL OSI USA News

  • MIL-OSI USA News: Pausing Foreign Corrupt Practices Act Enforcement to Further American Economic and National Security

    Source: The White House

    By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:

         Section 1.  Purpose and Policy.  Since its enactment in 1977, the Foreign Corrupt Practices Act (15 U.S.C. 78dd-1 et seq.) (FCPA) has been systematically, and to a steadily increasing degree, stretched beyond proper bounds and abused in a manner that harms the interests of the United States.  Current FCPA enforcement impedes the United States’ foreign policy objectives and therefore implicates the President’s Article II authority over foreign affairs.

         The President’s foreign policy authority is inextricably linked with the global economic competitiveness of American companies.  American national security depends in substantial part on the United States and its companies gaining strategic business advantages whether in critical minerals, deep-water ports, or other key infrastructure or assets. 

         But overexpansive and unpredictable FCPA enforcement against American citizens and businesses — by our own Government — for routine business practices in other nations not only wastes limited prosecutorial resources that could be dedicated to preserving American freedoms, but actively harms American economic competitiveness and, therefore, national security. 
         It is therefore the policy of my Administration to preserve the Presidential authority to conduct foreign affairs and advance American economic and national security by eliminating excessive barriers to American commerce abroad. 

         Sec. 2.  Policy of Enforcement Discretion.  (a)  For a period of 180 days following the date of this order, the Attorney General shall review guidelines and policies governing investigations and enforcement actions under the FCPA.  During the review period, the Attorney General shall:
              (i)    cease initiation of any new FCPA investigations or enforcement actions, unless the Attorney General determines that an individual exception should be made;
              (ii)   review in detail all existing FCPA investigations or enforcement actions and take appropriate action with respect to such matters to restore proper bounds on FCPA enforcement and preserve Presidential foreign policy prerogatives; and
              (iii)  issue updated guidelines or policies, as appropriate, to adequately promote the President’s Article II authority to conduct foreign affairs and prioritize American interests, American economic competitiveness with respect to other nations, and the efficient use of Federal law enforcement resources.
         (b)  The Attorney General may extend such review period for an additional 180 days as the Attorney General determines appropriate.
         (c)  FCPA investigations and enforcement actions initiated or continued after the revised guidelines or policies are issued under subsection (a) of this section:
              (i)   shall be governed by such guidelines or policies; and
              (ii)  must be specifically authorized by the Attorney General.
         (d)  After the revised guidelines or policies are issued under subsection (a) of this section, the Attorney General shall determine whether additional actions, including remedial measures with respect to inappropriate past FCPA investigations and enforcement actions, are warranted and shall take any such appropriate actions or, if Presidential action is required, recommend such actions to the President.

         Sec. 3.  Severability.  If any provision of this order, or the application of any provision to any person or circumstance, is held to be invalid, the remainder of this order and the application of its provisions to any other persons or circumstances shall not be affected thereby.

         Sec. 4.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect: 
              (i)   the authority granted by law to an executive department, agency, or the head thereof; or 
              (ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals. 
         (b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations. 
         (c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.  
     
     
     
     
     
    THE WHITE HOUSE,
        February 10, 2025.

    MIL OSI USA News

  • MIL-OSI USA News: Adjusting Imports of Steel into The United States

    Source: The White House

    class=”has-text-align-center”>BY THE PRESIDENT OF THE UNITED STATES OF AMERICA
     
    A PROCLAMATION

    1. On January 11, 2018, the Secretary of Commerce (Secretary) transmitted to me a report on the Secretary’s investigation into the effect of imports of steel mill articles (steel articles) on the national security of the United States under section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862) (section 232).  The Secretary found and advised me of his opinion that steel articles are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States.
    2. In Proclamation 9705 of March 8, 2018 (Adjusting Imports of Steel Into the United States), I concurred in the Secretary’s finding that steel articles, as defined in clause 1 of Proclamation 9705 (as amended by clause 8 of Proclamation 9711 of March 22, 2018 (Adjusting Imports of Steel Into the United States)), are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States, and decided to adjust the imports of steel articles by imposing a 25 percent ad valorem tariff on such articles imported from most countries.  Proclamation 9705 further stated that any country with which the United States has a security relationship is welcome to discuss alternative ways to address the threatened impairment of the national security caused by imports from that country, and noted that, should the United States and that country arrive at a satisfactory alternative means to address the threat to the national security such that the President determines that imports from that country no longer threaten to impair the national security, I may remove or modify the restriction on steel articles imports from that country and, if necessary, adjust the tariff as it applies to other countries, as the national security interests of the United States require.
    3. In Proclamation 9705, I also directed the Secretary to monitor imports of steel articles and inform me of any circumstances that in the Secretarys opinion might indicate the need for further action under Section 232, as amended, with respect to such imports.  Pursuant to Proclamation 9705, the Secretary was authorized to provide relief from the additional duties, based on a request from a directly affected party located in the United States, for any steel article determined not to be produced in the United States in a sufficient and reasonably available amount or of a satisfactory quality, or based upon specific national security considerations.

    In subsequent proclamations, I noted the conclusion of discussions or the agreement on certain measures with the Argentine Republic (Argentina), Proclamation 9759 of May 31, 2018 (Adjusting Imports of Steel Into the United States); the Commonwealth of Australia (Australia), Proclamation 9759; the Federative Republic of Brazil (Brazil), Proclamation 9759; Proclamation 10064 of August 28, 2020 (Adjusting Imports of Steel Into the United States); Canada, Proclamation 9894 of May 19, 2019 (Adjusting Imports of Steel Into the United States; the United Mexican States (Mexico), Proclamation 9894; and the Republic of Korea (South Korea), Proclamation 9740 of April 30, 2018 (Adjusting Imports of Steel Into the United States).  President Biden noted the conclusion of discussions or the agreement on certain measures with the European Union (EU) on behalf of its member countries, Proclamation 10328 of December 27, 2021 (Adjusting Imports of Steel Into the United States); Proclamation 10691 of December 28, 2023 (Adjusting Imports of Steel Into the United States); Japan, Proclamation 10356 of March 31, 2022 (Adjusting Imports of Steel Into the United States); and the United Kingdom (UK), Proclamation 10406 of May 31, 2022 (Adjusting Imports of Steel Into the United States), on alternative ways to address the threat to the national security.  In addition, then-President Biden acknowledged the close relationship with Ukraine and exempted steel articles from Ukraine from the tariff. Proclamation 10403 of May 27, 2022 (Adjusting Imports of Steel Into the United States); Proclamation 10588 of May 31, 2023 (Adjusting Imports of Steel Into the United States); Proclamation 10771 of May 31, 2024 (Adjusting Imports of Steel Into the United States).  In Proclamation 10783 of July 10, 2024 (Adjusting Imports of Steel Into the United States), President Biden noted that imports of steel articles from Mexico had increased significantly as compared to their levels at the time of Proclamation 9894.  Accordingly, he implemented a melt and pour requirement for imports of steel articles that are products of Mexico and increased the section 232 duty rate for imports of steel articles and derivative steel articles that are products of Mexico that are melted and poured in a country other than Mexico, Canada, or the United States.

    • The Secretary has informed me that the initial 25 percent ad valorem tariff imposed by Proclamation 9705 has been an effective means of reducing imports, encouraging investment and expansion of production by domestic steel producers, and mitigating the threatened impairment of U.S. national security.  Following the initial imposition of 25 percent ad valorem tariffs, the U.S. steel capacity utilization rate increased to above 80 percent.
    • The Secretary has also informed me that, notwithstanding the impact of the tariff imposed by Proclamation 9705, imports of steel articles from certain countries exempted from the tariff or subject to alternative agreements have increased significantly, while excess capacity in the global steel industry has begun to increase again in recent years.  For example, imports from Canada increased 18 percent since Canada was excluded from the section 232 tariffs.  According to the Organization for Economic Cooperation and Development (OECD), global steel excess capacity is projected to reach approximately 630 million metric tons by 2026, more than total steel production in all OECD countries.  At the same time, exports of steel from the People’s Republic of China (China) have recently surged, exceeding 114 million metric tons through November 2024 while displacing production in other countries and forcing them to export greater volumes of steel articles and derivative steel articles to the United States. 
    • Total steel imports as a share of U.S. consumption increased significantly in 2024, reaching nearly 30 percent, similar to the import share of U.S. consumption at the time the Secretary issued his January 11, 2018, report.  Imports from countries with which the United States has reached alternative agreements have increased significantly as a share of total imports, from 74 percent in 2018 to 82 percent in 2024, while imports from countries subject to quantitative restrictions remain elevated regardless of changing U.S. demand conditions and the substantial investments made to expand the capabilities of the domestic industry.  Increasing and persistently high import volumes from countries exempted from the duties or subject to other alternative agreements like quotas and tariff-rate quotas have captured the benefit of U.S. demand at the domestic industry’s expense and transmitted harmful effects onto the domestic industry.  As steel import market share has increased, the domestic industry’s performance has been depressed, resulting in capacity utilization rates persistently lower than the 80 percent target level highlighted in the Secretary’s report. 
    • The Secretary has informed me that imports of steel articles from Canada and Mexico have increased significantly to levels that once again threaten to impair U.S. national security.  Volumes from both Canada and Mexico increased overall, from 7.77 million metric tons in 2020 to 9.14 million metric tons in 2024.  Imports have also surged in excess of historical norms of trade across numerous key product lines, such as long reinforcing bars, which have experienced import increases of 1,678 percent from Mexico and 564 percent from Canada.  These surges have occurred while authorities in those countries have supported otherwise uncompetitive producers with subsidies and other interventions that have exacerbated the global excess capacity crisis.  In addition, increasing import volumes and including Mexico’s imports from China, support a conclusion that there is transshipment or further processing of steel mill articles from countries that remain subject to the additional ad valorem tariff proclaimed in Proclamation 9705, or from countries seeking to evade quantitative restrictions.
    • The Secretary has also informed me that alternative agreements with trading partners including Australia, the members of the EU, Japan, and the United Kingdom have been less effective in eliminating the threatened impairment of U.S. national security than the additional ad valorem tariff proclaimed in Proclamation 9705.  As a result, imports of steel articles from these countries have increased as a share of total U.S. steel imports from 18.6 percent in 2020 to 20.7 percent in 2024.  In addition, from 2022 to 2024, imports from countries subject to quotas (Argentina, Brazil, and South Korea) increased by approximately 1.5 million metric tons, even as U.S. demand declined by more than 6.1 million tons during the period.  Argentina has continued to export steel to the United States at unsustainable quantities, especially a recent surge of semifinished products. Furthermore, Argentina’s lack of data transparency has continued to be of concern for the United States.  From official trade statistics released by Argentina, it is difficult to assess the levels of steel being imported from places like China and Russia, and other potential sources of excess capacity. Brazilian imports from countries with meaningful levels of overcapacity, specifically China have grown tremendously in recent years, more than tripling since the institution of this quota arrangement. 
    • At the same time, these alternative agreements have not resulted in sufficient action by these trading partners to address non-market excess capacity caused primarily by China, or sufficient cooperation by these trading partners on issues like trade remedies and customs matters or monitoring bilateral steel trade.  Some countries have also welcomed steel industry investments from non-market producers in countries like China seeking to exploit the agreements to obtain preferential access to the U.S. market.  The agreements have therefore been detrimental to U.S. steel production and national security.
    • The Secretary has informed me of similar problems with respect to the temporary exemption for imports of steel articles and derivative steel articles from Ukraine.  Rather than supporting the Ukrainian steel industry and alleviating the economic harm caused by the ongoing conflict, the benefits of this temporary exemption have accrued primarily to producers in EU member countries, which have significantly increased duty-free exports to the U.S. market of steel articles processed from Ukrainian semi-finished steel.  Since 2021, imports from Ukraine have remained steady at 0.5 percent of total U.S. imports, while imports from the European Union have increased 11.2 percent to 14.8 percent.  As a result of the temporary exemption, these imports enter the U.S. market subject to neither the ad valorem tariff proclaimed in Proclamation 9705, nor the tariff-rate-quota system applicable to other imports of steel articles from EU producers as proclaimed in Proclamation 10328.  This has facilitated evasion of both the section 232 measures and of antidumping duties that would be paid if the finished products were imported directly from Ukraine.
    • The Secretary has informed me that producers in countries that remain subject to the program have continued to evade the measures by processing covered steel articles into additional downstream steel derivative products that were not included in the additional ad valorem tariffs proclaimed in Proclamation 9705 and Proclamation 9980 of January 24, 2020 (Adjusting Imports of Derivative Aluminum Articles and Derivative Steel Articles Into the United States).  Imports of products such as fabricated structural steel, prestressed concrete strand, and others, have increased significantly since the issuance of Proclamation 9705 and Proclamation 9980, eroding the domestic industry’s customer base and resulting in depressed demand for steel articles produced in the United States.
    • The Secretary has also informed me of certain ongoing challenges with the product exclusion process authorized by Proclamation 9705, Proclamation 9777 of August 29, 2018 (Adjusting Imports of Steel Into the United States), and Proclamation 9980 and implemented by subsequent regulations.  This process has resulted in exclusions for a significant volume of imports, in a manner that undermines the purpose of the section 232 measures and threatens to impair national security.  Certain general approved exclusions remain in effect for entire tariff lines of steel articles, notwithstanding the domestic industry’s potential to produce many excluded products. 
    • I determine that these developments and modifications to the tariffs announced in Proclamation 9705 have undermined the program’s national security objectives by preventing the domestic steel industry from achieving sustained production capacity utilization of at least 80 percent, as determined necessary in the Secretary’s report of January 11, 2018.  I also determine that they have failed to achieve their articulated objectives.  As a result, I determine that they have resulted in significantly increasing imports of steel articles that threaten to impair the national security.    
    • In light of the Secretary’s findings regarding the alternative agreements with South Korea proclaimed in Proclamation 9740; Argentina, Australia, and Brazil proclaimed in Proclamation 9759; Canada and Mexico proclaimed in Proclamation 9894; EU countries proclaimed in Proclamation 10328; Japan proclaimed in Proclamation 10356; and the United Kingdom proclaimed in Proclamation 10406, I have revisited the determinations in these proclamations.  In my judgment, the arrangements with these countries have failed to provide effective, long-term alternative means to address these countries’ contribution to the threatened impairment to the national security by restraining steel articles exports to the United States from each of them, limiting transshipment and surges and distorted pricing, and discouraging excess steel capacity and excess steel production. Thus, I have determined that steel articles imports from these countries threaten to impair the national security, and I have decided that it is necessary to terminate these arrangements as of March 12, 2025.  As of that date, all imports of steel articles and derivative steel articles from Argentina, Australia, Brazil, Canada, EU countries, Japan, Mexico, South Korea, and the United Kingdom shall be subject to the additional ad valorem tariff proclaimed in Proclamation 9705 with respect to steel articles and Proclamation 9980 with respect to derivative steel articles.  In my judgment, these modifications are necessary to address the significantly increasing share of imports of steel articles and derivative steel articles from these sources, which threaten to impair U.S. national security.  Replacing the alternative agreements with the additional ad valorem tariffs will be a more robust and effective means of ensuring that the objectives articulated in the Secretary’s January 11, 2018, report and subsequent proclamations are achieved.
    • For the same reasons, I have also revisited the determinations in Proclamation 10403, Proclamation 10558, and Proclamation 10771.  In my judgment, the arrangement with Ukraine has failed to provide effective, long-term alternative means to address Ukraine’s contribution to the threatened impairment to our national security by restraining steel articles exports to the United States from Ukraine, limiting transshipment and surges, and discouraging excess steel capacity and excess steel production. Thus, I have determined that steel articles imports from Ukraine threaten to impair the national security and have determined that it is necessary to terminate the temporary exemption for imports of steel articles and derivative steel articles from Ukraine as proclaimed in Proclamation 10403, Proclamation 10558, and Proclamation 10771.  In my judgment, terminating this exemption will prevent abuses that have resulted in significantly increasing imports from sources other than Ukraine, will prevent evasion of antidumping duties, and will support the domestic steel industry without harming Ukraine’s economic recovery. 
    • In light of the information provided by the Secretary that significantly increasing imports of certain derivative steel articles have depressed demand for steel articles produced by domestic steel producers, I have determined that it is necessary and appropriate in light of U.S. national security interests to adjust the tariff proclaimed in Proclamation 9705 and Proclamation 9980 to apply to additional derivative steel articles.  As of March 12, 2025, the additional derivative steel articles covered by this proclamation, as set out in Annex I to this proclamation, shall be subject to the ad valorem duties proclaimed in Proclamation 9705 and Proclamation 9980, except for derivative steel articles processed in another country from steel articles that were melted and poured in the United States.  For any derivative steel article identified in Annex I that is not in Chapter 73 of the HTSUS, the additional ad valorem duty shall apply only to the steel content of the derivative steel article.  The Secretary shall publish a notice in the Federal Register to this effect, including Annex I to this proclamation. 
    • The Secretary has informed me that his findings with regard to the product exclusion process present circumstances that in the Secretary’s opinion indicate the need for further action by the President under section 232.  Accordingly, as of the date of this proclamation the Secretary is no longer authorized to provide relief from the additional duties set forth in clause 2 of Proclamation 9705 for any steel article determined not to be produced in the United States in a sufficient and reasonably available amount or a satisfactory quality or based on specific national security determinations, and the product exclusion process as authorized in clause 3 of Proclamation 9705, clause 1 of Proclamation 9777, and clause 2 of Proclamation 9980 is terminated, effective immediately.  I have determined that terminating product exclusions is necessary to ensure that overly broad exclusions do not allow high volumes of imports to undermine the objectives articulated in the Secretary’s January 11, 2018, report and relevant subsequent proclamations.  This change will also relieve the administrative burden that the process has created.  Following this proclamation, and subject to any restrictions set forth in or pursuant to other provisions of applicable law, imports of any steel article or derivative steel article from any source and in any quantity will be available to U.S. importers, provided that the additional ad valorem tariffs are paid upon entry or withdrawal from warehouse for consumption.
    • Section 232 of the Trade Expansion Act of 1962, as amended, authorizes the President to take action to adjust the imports of an article and its derivatives if the President concurs with the Secretary’s finding that the article is being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security. 
    • Section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), authorizes the president to embody in the Harmonized Tariff Schedule of the United States (HTSUS) the substance of statutes affecting import treatment, and actions thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.

    20.  The United States will monitor the implementation and effectiveness of these actions in addressing our national security needs, and I may revisit this determination, as appropriate.

         NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by the authority vested in me by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, section 604 of the Trade Act of 1974, as amended, and section 232 of the Trade Expansion Act of 1962, as amended, do hereby proclaim as follows: 

    • The provisions of Proclamation 9740 with respect to imports of steel articles from South Korea; Proclamation 9759 with respect to imports of steel articles from Argentina, Australia, and Brazil; Proclamation 10064 with respect to imports of steel articles from Brazil; Proclamation 9894 with respect to imports of steel articles from Canada and Mexico; Proclamation 10783 with respect to imports of steel articles from Mexico; Proclamation 10328 and Proclamation 10691 with respect to imports of steel articles and derivative steel articles from the EU; Proclamation 10356 with respect to imports of steel articles and derivative steel articles from Japan; Proclamation 10406 with respect to imports of steel articles and derivative steel articles from the United Kingdom; and Proclamation 10403, Proclamation 10558, and Proclamation 10771 with respect to steel articles and derivative steel articles from Ukraine shall be ineffective as of 12:01 a.m. eastern time on March 12, 2025.  The provisions of clause 1 of Proclamation 9740 as applicable to imports of steel articles or derivative steel articles from Argentina, Australia, Brazil, Canada, Mexico, South Korea, and EU member countries shall be ineffective as of 12:01 a.m. eastern time on March 12, 2025.  The provisions of clause 1 of Proclamation 9980 as applicable to imports of derivative steel articles from Argentina, Australia, Canada, Mexico, and South Korea shall be ineffective as of 12:01 a.m. eastern time on March 12, 2025.  As of 12:01 a.m. eastern time on March 12, 2025, all imports of steel articles and derivative steel articles from these countries shall be subject to the additional ad valorem tariffs proclaimed in Proclamation 9705 and Proclamation 9980.
    • Clause 2 of Proclamation 9705, as amended, is revised to read as follows:

    (2)(a)  In order to establish certain modifications to the duty rate on imports of steel articles, subchapter III of chapter 99 of the HTSUS is modified as provided in the forthcoming annex to this proclamation set out in a subsequent Federal Register notice and any subsequent proclamations regarding such steel articles.

         (b)  Except as otherwise provided in this proclamation, or in notices published pursuant to clause 3 of this proclamation, all steel articles imports covered by heading 9903.80.01, in subchapter III of chapter 99 of the HTSUS, shall be subject to an additional 25 percent ad valorem rate of duty with respect to goods entered for consumption, or withdrawn from warehouse for consumption, as follows: (i) on or after 12:01 a.m. eastern time on March 23, 2018, from all countries except Argentina, Australia, Brazil, Canada, Mexico, South Korea, and the member countries of the European Union; (ii) on or after 12:01 a.m. eastern time on June 1, 2018, from all countries except Argentina, Australia, Brazil, and South Korea; (iii) on or after 12:01 a.m. eastern time on August 13, 2018, from all countries except Argentina, Australia, Brazil, South Korea, and Turkey; (iv) on or after 12:01 a.m. eastern time on May 20, 2019, from all countries except Argentina, Australia, Brazil, South Korea, and Turkey; (v) on or after 12:01 a.m. eastern time on May 21, 2019, from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea; (vi) on or after 12:01 a.m. eastern time on January 1, 2022, from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea, and except the member countries of the European Union through 11:59 p.m. eastern time on December 31, 2023, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive; (vii) on or after 12:01 a.m. eastern time on April 1, 2022, from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea, and except the member countries of the European Union through 11:59 p.m. eastern time on December 31, 2023, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive, and from Japan, for steel articles covered by headings 9903.81.25 through 9903.81.80, inclusive; (viii) on or after 12:01 a.m. eastern time on June 1, 2022, from all countries except Argentina, Australia, Brazil, Canada, Mexico, South Korea, and Ukraine through 11:59 p.m. eastern time on June 1, 2023, and except the member countries of the European Union through 11:59 p.m. eastern time on December 31, 2023, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive, and from Japan and the United Kingdom (UK), for steel articles covered by subheadings 9903.81.25 through 9903.81.78 and heading 9903.81.80, and from the member countries of the European Union, for steel articles covered by heading 9903.81.81; (ix) on or after 12:01 a.m. eastern time on June 1, 2023, from all countries except Argentina, Australia, Brazil, Canada, Mexico, South Korea, and Ukraine through 11:59 p.m. eastern time on June 1, 2024, and except the member countries of the European Union through 11:59 p.m. eastern time on December 31, 2023, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive, and from Japan and the UK, for steel articles covered by subheadings 9903.81.25 through 9903.81.78 and heading 9903.81.80, and from the member countries of the European Union, for steel articles covered by heading 9903.81.81, and from the member countries of the European Union where the steel used in the manufacture of the steel article is melted and poured in Ukraine through 11:59 p.m. eastern time on June 1, 2024, (x) on or after 12:01 a.m. eastern time on January 1, 2024, from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea, and except for Ukraine in accordance with the relevant proclamation as amended, and except the member countries of the European Union in accordance with the relevant proclamation as amended, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive, and from Japan and the UK , in accordance the relevant proclamation as amended, for steel articles covered by subheadings 9903.81.25 through 9903.81.78 and heading 9903.81.80, and from the member countries of the European Union in accordance with the relevant proclamation as amended, for steel articles covered by heading 9903.81.81, and from the member countries of the European Union where the steel used in the manufacture of the steel article is melted and poured in Ukraine in accordance with the relevant proclamation as amended, and (xi) from all countries on or after 12:01 a.m. eastern time on March 12, 2025, unless suspended. Further, except as otherwise provided in notices published pursuant to clause 3 of this proclamation, all steel articles imports from Turkey covered by heading 9903.80.02, in subchapter III of chapter 99 of the HTSUS, shall be subject to a 50 percent ad valorem rate of duty with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern time on August 13, 2018, and prior to 12:01 a.m. eastern time on May 21, 2019.  These rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported steel articles, shall apply to imports of steel articles from each country as specified in the preceding three sentences.

    • The first two sentences of clause 1 of Proclamation 9980 are revised to read as follows:

    In order to establish increases in the duty rate on imports of certain derivative articles, subchapter III of chapter 99 of the HTSUS is modified as provided in Annex I and Annex II to this proclamation.  Except as otherwise provided in this proclamation, all imports of derivative aluminum articles specified in Annex I to this proclamation shall be subject to an additional 10 percent ad valorem rate of duty, and all imports of derivative steel articles specified in Annex II to this proclamation shall be subject to an additional 25 percent ad valorem rate of duty, with respect to goods entered for consumption, or withdrawn from warehouse for consumption, as follows: (i) on or after 12:01 a.m. eastern time on February 8, 2020, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, the Commonwealth of Australia (Australia), Canada, and the United Mexican States (Mexico), and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea; (ii) on or after 12:01 a.m. eastern time on January 1, 2022, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, and Mexico, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Mexico, and South Korea; (iii) on or after 12:01 a.m. eastern time on April 1, 2022, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, and Mexico, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Japan, Mexico, and South Korea; (iv) on or after 12:01 a.m. eastern time on June 1, 2022, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, Mexico, and the UK, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Japan, Mexico, South Korea, and the UK, and except from Ukraine through 11:59 p.m. eastern time on June 1, 2023; (v) on or after 12:01 a.m. eastern time on March 10, 2023, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, Mexico, the UK, and Russia, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Japan, Mexico, South Korea, and the UK, and except from Ukraine through 11:59 p.m. eastern time on June 1, 2023; (vi) on or after 12:01 a.m. eastern time on June 1, 2023, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, Mexico, the UK, and Russia, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Japan, Mexico, South Korea, and the UK, and except from Ukraine om accordance with the relevant proclamation as amended; and (vii) on or after 12:01 a.m. eastern daylight time on March 12, 2025, unless suspended, these rates of duty, which are in addition to any other duties, taxes, fees, exactions, and charges applicable to such imported derivative steel articles, shall apply to imports of derivative steel articles described in Annex II to this proclamation from all countries.”

    • Except as otherwise provided in this proclamation, all imports of derivative steel articles specified in Annex I to this proclamation or in any subsequent annex to this proclamation, as set out in a subsequent notice in the Federal Register, shall be subject to an additional 25 percent ad valorem rate of duty, with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on the Commerce certification date in clause 8. These rates of duty, which are in addition to any other duties, taxes, fees, exactions, and charges applicable to such imported derivative steel articles, shall apply to imports of derivative steel articles described in Annex I to this proclamation from all countries, but shall not apply to derivative steel articles processed in another country from steel articles that were melted and poured in the United States. The Secretary shall continue to monitor imports of the derivative articles described in Annex I to this proclamation, and shall, from time to time, in consultation with the United States Trade Representative, review the status of such imports with respect to the national security of the United States.
    • For purposes of implementing the requirements in this proclamation, importers of steel derivative articles shall provide to U.S. Customs and Border Patrol within the Department of Homeland Security (CBP) any information necessary to identify the steel content used in the manufacture of steel derivative articles imports, covered by this Proclamation. CBP shall implement the information requirements as soon as practicable.
    • Within 90 days after the date of this proclamation, the Secretary shall establish a process for including additional derivative steel articles within the scope of the ad valorem duties proclaimed in Proclamation 9705, Proclamation 9980, and clause 4 of this proclamation.  In addition to inclusions made by the Secretary, this process shall provide for including additional derivative steel articles at the request of a producer of a steel article or derivative steel article, or an industry association representing one or more such producers, where the request establishes that imports of a derivative steel article have increased in a manner that threatens to impair the national security or otherwise undermine the objectives set forth in the Secretary’s January 11, 2018, report or any Proclamation issued pursuant thereto.  When the Secretary receives such a request from a domestic producer or industry association, the Secretary shall issue a determination regarding whether or not to include the derivative steel article or articles within 60 days of receiving the request. 
    • The provisions of clause 3 of Proclamation 9705, clause 1 of Proclamation 9777, clause 2 of Proclamation 9980, or any other provisions authorizing the Secretary to grant relief for certain products from the additional ad valorem duties or quantitative restrictions set forth in prior proclamations are hereby revoked.  As of 11:59 p.m. eastern time on the date of this proclamation, the Secretary shall not consider any product exclusion requests or renew any product exclusion requests in effect as of that date.  The Secretary shall take all necessary action to rescind the product exclusion process, including publication in the Federal Register.  Granted product exclusions shall remain effective until their expiration date or until excluded product volume is imported, whichever occurs first.  The Secretary shall terminate all existing general approved exclusions as of March 12, 2025.   
    • The modifications made by this proclamation in clause 4 shall be effective upon public notification by the Secretary of Commerce, that adequate systems are in place to fully, efficiently, and expediently process and collect tariff revenue for covered articles.
    • Any steel article or derivative article, except those eligible for admission under “domestic status” as defined in 19 CFR 146.43, that is subject to the duty imposed by this proclamation and that is admitted into a U.S. foreign trade zone on or after 12:01 a.m. eastern daylight time on March 12, 2025, must be admitted as “privileged foreign status” as defined in 19 CFR 146.41, and will be subject upon entry for consumption to any ad valorem rates of duty related to the classification under the applicable HTSUS subheading.  Any steel article or derivative steel article, except those eligible for admission under “domestic status” as defined in 19 CFR 146.43, that is subject to the duty imposed by this proclamation, and that was admitted into a U.S. foreign trade zone under “privileged foreign status” as defined in 19 CFR 146.41, prior to 12:01 a.m. eastern daylight time on March 12, 2025 , will likewise be subject upon entry for consumption to any ad valorem rates of duty related to the classification under the applicable HTSUS subheading added by this proclamation.  Pursuant to clause 8, the duties on steel derivatives established by clause 4 of this Proclamation shall be suspended until public notification by the Secretary of Commerce that adequate systems are in place to fully, efficiently, and expediently process and collect tariff revenue applicable to covered articles.
    • Any product listed in Annex Ito this proclamation or any subsequent annex published in the Federal Register pursuant to this Proclamation, that is subject to the additional duties imposed by this proclamation, and that is admitted into a U.S. foreign trade zone, except any product that is eligible for admission under “domestic status” as defined in 19 CFR 146.43, may only be admitted as “privileged foreign status,” as defined in 19 CFR 146.41, effective as of the date that the additional duties are imposed.
    • The Secretary, in consultation with the Commissioner of CBP, Security, and the heads of other relevant executive departments and agencies, shall revise the HTSUS so that it conforms to the amendments and effective dates directed in this proclamation within ten days of March 12, 2025.  The Secretary is authorized and directed to publish any such modification and future modifications to the HTSUS in the Federal Register.
    • CBP shall prioritize reviews of the classification of imported steel articles and derivative steel articles and, in the event that it discovers misclassification resulting in non-payment of the ad valorem duties proclaimed herein, it shall assess monetary penalties in the maximum amount permitted by law and shall not consider any evidence of mitigating factors in its determination.  In addition, CBP shall promptly notify the Secretary regarding evidence of any efforts to evade payment of the ad valorem duties proclaimed herein through processing or alteration of steel articles or derivative steel articles prior to importation.  In such circumstances, the Secretary shall consider the processed or altered steel articles or derivative steel articles for inclusion as derivative steel articles pursuant to clause 5 of this proclamation.
    • No drawback shall be available with respect to the duties imposed pursuant to this proclamation.

    (14)  The Secretary may issue regulations and guidance consistent with this proclamation, including to address operational necessity.

    (15) Any provision of a previous proclamation or Executive Order that is inconsistent with the actions taken in this proclamation is superseded to the extent of such inconsistency.

         IN WITNESS WHEREOF, I have hereunto set my hand this

    tenth day of February, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and forty-ninth.

    MIL OSI USA News

  • MIL-OSI Submissions: Australia – New book tells the stories of second generation migrants – AMES

    Source: AMES

    A compelling new book tells the stories of second-generation migrant Australians, who share their families’ settlement journeys and their own search for identity.

    Titled ‘At the Heart of Identity’, the book reveals the both inspirational and heart-wrenching stories of migrant families as well as the sense of hope and opportunity that characterises Australia’s migration history.

    Contributors include South Australian Premier Peter Malinauskas, whose family hails from Lithuania, and former Socceroo Archie Thompson, who has a New Zealand-born father and mother from Papua New Guinea.

    Also sharing their stories are federal MP Cassandra Fernando, whose parents are from Sri Lanka, and Victorian state MP Lee Tarlamis, who has Greek heritage.

    Artist Saidin Salkic, whose father was victim of the Srebrenica massacre in Bosnia, is also a contributor, along with others from Africa, Kurdistan, Vietnam, Malta, Yugoslavia, Burma, Italy and Ukraine.

    Published today as part of migrant and refugee settlement agency AMES Australia’s annual ‘Heartlands’ cultural project, the book is a reflection of Australia’s long and diverse history as a nation of migrants.

    AMES CEO Cath Scarth said the book was timely at a point in history when polarisation and divisiveness are on the rise across the globe.

    “Stories of settlement in Australia, no matter where you have come from, are things that unite us,” Ms Scarth said.

    “These stories are reflection of how migrants have helped to build Australia and helped to create the successful brand of multiculturalism we enjoy along with the high levels of social cohesion that we have built,” she said.

    One of the contributors is Carmen Capp-Calleya, who came to Australia from Malta with her parents in 1958 – surviving a shipwreck along the way.

    “The tragic incident, the first major shipping disaster since the end of WW11, had an enduring impact on me and my family. It left us with an indelible sense that we were indeed migrants who had crossed the seas to make a new life,” she says in the book.

    Former Socceroo Archie Thompson tells of his trouble childhood.

    “I grew up in country town in NSW and I was pretty much the only dark-skinned kid in town. That made things difficult at times, but I was able to find a community through football,” he says.

    SA Premier Peter Malinauskas’ family came to Australia in 1949 escaping war-torn Europe.

    “When my grandparents got married, they bought a block of land on Trimmer Parade, Seaton, where they built their home and, for many years, operated a fish and chip shop. I distinctly remember as a young boy standing at that fish and chip shop my grandfather built with his own bare hands as he told me about the importance of taking opportunities,” he says.

    Federal MP Cassandra Fernando tells of growing up in a vibrant multicultural community.

    “I loved the diversity in South-East Melbourne, a cultural melting pot of Greeks, Italians, Vietnamese, and more. Here, I learned the true meaning of community as people from

    different backgrounds came together,” she says.

    Victorian MP Lee Tarlamis tells of reconnecting with his heritage.

    “I became determined to reconnect with Greek culture. Embracing both the Greek community and my wife’s Vietnamese culture helped me value diversity and the importance of preserving it,” he says in the book.

    Park Ranger James Brincat, whose parts came from Malta in the 1950s, says racism was part of his childhood.

    “Growing up in a migrant family was challenging due to racism and being unsure of my identity because of the media’s mixed messages. These experiences strengthened me and now guide my work with refugee communities,” he says.

    Architect and artist Maru Jarockyj’s parents fled Ukraine after WWII and settled in the UK. She came to Australia as a young woman.

    “Russia’s illegal invasion of Ukraine and the subsequent devastating war has sparked some deep latent emotions in me and reignited a sense of patriotism. Ukrainian culture

    has always been important to me, and I’ve been involved in folk music and art throughout my life,” she says.

    ‘At the Heart of Identity’ will go on sale early next year.

    MIL OSI – Submitted News

  • MIL-Evening Report: Whether we carve out an exemption or not, Trump’s latest tariffs will still hit Australia

    Source: The Conversation (Au and NZ) – By Scott French, Senior Lecturer in Economics, UNSW Sydney

    US President Donald Trump and Prime Minister Anthony Albanese have stated an exemption for Australia from Trump’s executive order placing 25% tariffs on all steel and aluminium imported into the US is “under consideration”. But prospects remain uncertain.

    Albanese would do well to secure an exemption using similar arguments as then-Prime Minister Malcolm Turnbull did in 2018.

    If Australia cannot obtain a carve-out from the tariffs, the main group affected will be the Australian producers of steel and aluminium. But the size of the hit they will take is difficult to predict.

    Regardless of whether Australia gets an exemption, the world economy – and Australians – will be affected by Trump’s latest round of tariffs.

    Producers will be hit

    If ultimately imposed by the US, these tariffs will make steel and aluminium produced in Australia more expensive for US manufacturers relative to domestically produced alternatives. This will certainly result in reduced demand for the Australian products.

    However, three factors will help limit the effects:

    1. The price of metals produced in the US will rise

    It will take time to ramp up US production to fill the gap of reduced imports, and the extra production will likely come from less efficient domestic producers. This means that US manufacturers will continue to buy imported metals, despite the higher prices.

    2. The US is not a huge market for Australian steel and aluminium

    Australia produced A$113 billion of primary and fabricated metal in the 2022-23 financial year, according to the ABS.

    By comparison, less than $1 billion of steel and aluminium was exported to the US in 2023, according to data from UN Comtrade, consisting of about $500 million of aluminium and less then $400 million of steel. Exports to the US account for about 10% of Australia’s total exports of these metals.

    3. Major markets

    If major markets such as China and the European Union enact retaliatory tariffs on US metals, this could make Australian metals more competitive in these markets.

    Some stand to benefit

    While workers in Australian steel and aluminium plants will be watching the news with trepidation, some of Australia’s biggest manufacturing companies may be less concerned.

    For example, BlueScope Steel has significant US steel operations, and saw its share price increase on news of the tariffs.

    US-based Alcoa, which owns alumina refineries in Western Australia and an aluminium smelter in Victoria, will also expect to see its US operations benefit.

    And Rio Tinto will be most concerned about its substantial Canadian operations. Its Canadian hub is responsible for close to half of its global aluminium production.

    Demand for iron ore could fall

    The US tariffs will also have wider ranging effects on the Australian economy, regardless of whether Australia’s products are directly targeted.

    While aluminium is Australia’s top manufacturing export, it still makes up only about 1% of total exports, and steel makes up less than half that.

    Iron ore, by contrast, makes up more than 20% of Australia’s exports, with aluminium ores making up an additional 1.5%.

    This means the effect of the tariffs on demand for the raw materials to make steel and aluminium may have the largest detrimental effect on the Australian economy.

    Because the tariffs will make steel and aluminium more expensive to US manufacturers, they will seek to reduce their use of them. This means global demand for the metals, and the ores used to produce them, will decline.

    Investors appear to be betting on this, with shares of Australian miners like Rio Tinto and BHP falling since Trump announced the tariffs.

    Imported goods will become more expensive

    Many of the things Australians buy are likely to get more expensive.

    All US products that use steel and aluminium at any stage of the production process will also become more expensive. Tariffs will raise the cost of steel and aluminium for US manufacturers, both directly and by reducing overall productivity in the US.

    About 11% of Australia’s imports come from the US. And about half of this consists of machinery, vehicles, aircraft, and medical instruments, which typically contain steel and aluminium. Further, these goods are used by manufacturers around the world to produce and transport many of the other things Australians buy.

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

    ref. Whether we carve out an exemption or not, Trump’s latest tariffs will still hit Australia – https://theconversation.com/whether-we-carve-out-an-exemption-or-not-trumps-latest-tariffs-will-still-hit-australia-249493

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Economics: The Office of Markets Development and Public–Private Partnership

    Source: Asia Development Bank

    It outlines how OMDP helps developing member countries (DMCs) access the tools they need to engage businesses. It shows how it helps DMCs create conducive environments for investors and build up their private sectors. Highlighting the $4.3 billion in private capital OMDP mobilized since 2016, it shows why working with businesses to develop infrastructure helps DMCs harness cutting-edge technologies, boost project efficiency, and achieve transformative growth. 

    MIL OSI Economics

  • MIL-Evening Report: American Primeval includes brutal displays of Mormon violence, but the reality was arguably worse

    Source: The Conversation (Au and NZ) – By Brenton Griffin, Casual Lecturer and Tutor in History, Indigenous Studies, and Politics, Flinders University

    American Primeval/Netflix

    On January 24, leaders of the Church of Jesus Christ of Latter-day Saints, more commonly known as the Mormon Church, penned a statement condemning the Netflix series American Primeval.

    This historical fiction depicts the Mountain Meadows Massacre of 1857, as well as broader hostilities between the US government and Mormons at Salt Lake City during the Utah War of 1857–58.

    The church has criticised the series for its portrayal of the Mormon prophet Brigham Young, who it claims is “egregiously mischaracterized as a villainous, violent fanatic”. It also says the series

    inaccurately portrays [the Mountain Meadows Massacre] as reflective of a whole faith group, [when] the Church has long acknowledged and condemned this horrific tragedy.

    The reality of the massacre was arguably even grimmer than what American Primeval shows. Contrary to what is depicted in the series, there were no adult survivors. Official sources state up to 150 people were killed. Only 17 children under the age of six were spared, who were then discreetly adopted into Mormon families.

    A (nuanced) history of violence

    Although onscreen depictions of Mormon violence are common, most of these fail to explain the roots of this violence in both theological belief and history.

    Canonised Mormon scripture, including in the Book of Mormon and The Doctrine and Covenants, and pronouncements from leaders such as Joseph Smith and Brigham Young, argue some violence is appropriate and required as per God’s commandment. Justifications for violence had been used against both outsiders and insiders since the religion was founded in 1830 by Joseph Smith (who himself was assassinated in 1844).

    The other driver is the lived experiences of Mormons. Throughout their history, Mormons had been forcefully removed from wherever they have settled, most prolifically under the Missouri “extermination order” of 1838.

    This resulted in the slaughter, rape and violent relocation of Mormons from Missouri to their temporary home in Illinois, before they further migrated to Zion – a religious community established by Young and his followers in Utah – in 1847.

    The Mormons’ establishment of Salt Lake City and surrounding cities in 1847 was based on the violent dispossession of Indigenous communities. As shown in American Primeval, the Utah War and the period surrounding it was dominated by violence.

    This included violence from Mormons and other settlers against Native Americans whose lands were being dispossessed, from Native Americans defending their lands, and from the US government against Mormons and Native Americans.

    In the Mountain Meadows Massacre, Mormons and Native Americans allied against US emigrants travelling to California.

    A depiction of the 1857 Mountain Meadows Massacre.
    Shutterstock

    The two threads of theology and history are integral to understanding the way Mormon violence has been both enacted and represented.

    Portrayals in 19th-century media

    Mormonism first reached Australia’s shores in 1840 and remained a small religious minority in the 19th and 20th centuries. Converts were encouraged to migrate to Utah to help build Zion.

    Australian newspapers reported widely on the Mountain Meadows Massacre of 1857. These articles were mostly reprints of the same information. They were largely accurate, but inflated the number of victims.

    The articles explained how the slaughter had originally been assigned solely to Native Americans, but was later discovered to have been orchestrated by the Mormons, with assistance from some Indigenous tribes.

    Interest began to wane in the 1860s, but picked up again in 1877 following the execution of perpetrator John D. Lee. However, in his book and “confession”, Mormonism Unveiled (1877), Lee claimed he had been scapegoated by Young and other leaders.

    Photographs from 1877 show officers, soldiers and spectators at Mountain Meadows, Utah, following the execution of John D. Lee.
    Library Of Congress

    Spotlight on the Danites

    Interest in Mormon violence wasn’t confined to the Mountain Meadows Massacre. Australian newspapers also discussed the Danites, a band of religiously motivated vigilantes involved in Mormon hostilities in Missouri and Illinois in the 1830s.

    These vigilantes were inspired by Smith’s theological claims and a goal to defend Mormons from harm. They participated in both aggressive and defensive violence against their non-Mormon neighbours.

    Historians have debated the extent of the Danites’ existence, with official church statements claiming they ceased to exist in 1838. Yet in 1858, Brigham Young threatened, “if men come here and do not behave themselves, they will […] find the Danites, whom they talk so much about”.

    The group is first mentioned in Australian media by the late 1850s, with descriptions of Danite “atrocities” disseminated widely, though largely uncorroborated.

    By the 1870s and ‘80s, this had progressed to portrayals in popular culture, including in Australian theatres and Arthur Conan Doyle’s 1887 novel Sherlock Holmes: A Study In Scarlet.

    Media representations of Mormon violence continued into the 20th century. The 1917 American film A Mormon Maid focused on theocratic violence and polygamy, which had been allowed in Mormonism until its ban in 1890.

    A 1952 article in Queensland’s The Truth recounting the Mountain Meadow Massacre.
    Trove

    The modern Mormon

    Our collective fascination with Mormonism today is augmented by the religion’s marginal yet undeniable presence, both in Australia and overseas.

    There are about 17 million Mormons worldwide. Of these, an estimated 157,000 are in Australia (about 0.6% of the population) compared with almost seven million in the United States (about 2% of the population).

    Modern portrayals of Mormonism have tended towards the humorous (The Book of Mormon musical), scandalous (The Secret Lives of Mormon Wives), and even sympathetic (Heretic).

    Even recent representations of Mormon violence, such as in Under the Banner of Heaven (2022), have focused on breakaway fundamentalists rather than the mainstream Mormon church.

    Outrage towards Mormons has focused on the religion’s extreme wealth, influence over political issues such as opposition to same-sex marriage, and the rise of Mormon “tradwife” influencers.

    But I argue these are divergences from the more prominent historical trend of painting Mormons as violent zealots (or in some cases as sexually amoral heretics). And despite these, the spectre of Mormon violence remains – reinforced periodically over nearly 200 years of popular culture and media.

    Brenton Griffin was raised as a member of the Church of Jesus Christ of Latter-day Saints, but is no longer a practising member of the church. His PhD research is focused on the religion’s place in Australian and New Zealand popular culture, politics, and society from the nineteenth century to present.

    ref. American Primeval includes brutal displays of Mormon violence, but the reality was arguably worse – https://theconversation.com/american-primeval-includes-brutal-displays-of-mormon-violence-but-the-reality-was-arguably-worse-249377

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: Dongfeng, Changan revamp to give global edge to automakers

    Source: China State Council Information Office

    The planned restructuring of Wuhan, Hubei province-headquartered Dongfeng Motor Corp and Chongqing-based Changan Automobile is expected to create a more integrated and competitive automaker capable of competing with global giants like Toyota, Volkswagen and Tesla in the coming years, said analysts on Monday.

    A number of listed subsidiaries of State-owned Dongfeng Motor and CSGC, the parent company of Changan Automobile, including Dongfeng Automobile Co and Harbin Dongan Auto Engine Co, announced possible changes to their controlling shareholders on Sunday.

    The listed companies under CSGC announced that they had received a notice from their parent company regarding ongoing restructuring plans with other State-owned enterprises.

    They said that while the restructuring could result in changes to their controlling shareholders, it would not affect the ultimate controlling entity. They also emphasized that the plan remains subject to approval from the relevant authorities.

    Even though Dongfeng Motor and CSGC have not explicitly named each other as restructuring partners, market watchers said that there is a high possibility of integration among China’s State-owned automakers’ passenger vehicle businesses.

    Currently, Changan Automobile, in partnership with Chinese technology company Huawei Technologies Co, maintains a leading position in the transition to new energy vehicles and intelligent mobility development, said Zhang Xiang, an auto industry researcher at the Beijing-based North China University of Technology.

    “Therefore, it is expected that Changan Automobile will play a leading role in the future integration of the passenger vehicle businesses owned by centrally administered SOEs,” Zhang said.

    Dongfeng Motor reported vehicle sales of 2.48 million units in 2024, reflecting a 2.5 percent year-on-year increase, according to information released by the State-owned Assets Supervision and Administration Commission of the State Council, the country’s Cabinet.

    Meanwhile, Changan Automobile achieved total sales of 2.68 million vehicles last year, marking a 5.1 percent growth compared to the previous year. Notably, the company’s NEV sales surpassed 734,000 units, representing a 52.8 percent year-on-year surge.

    Based on their production capacity, the restructuring will effectively enhance the competitiveness of Chinese vehicle brands on the global stage, Zhang added.

    In terms of component integration, the restructuring of these two SOEs will significantly expand the procurement scale, enhancing their bargaining power with component suppliers. This is expected to cut procurement costs and improve the overall efficiency of the supply chain, said Ding Rijia, a professor specializing in industrial economy at the China University of Mining and Technology in Beijing.

    Further, if both companies integrate their component technologies, it will enhance the technical sophistication and performance of vehicle components, Ding said.

    Speaking at a news conference in Beijing last month, Lin Qingmiao, head of the SASAC’s bureau of enterprise reform, said the government’s key focus will be on the restructuring and integration of central SOEs this year, in order to further promote the optimization of the State-owned economy’s structural adjustment going forward.

    Lin said that China will speed up the allocation of State capital to critical industries related to national security and the lifeline of national economy, public services, emergency response capabilities, public welfare and strategic emerging industries.

    Eager to enrich user experience, Dongfeng Motor announced last week the successful integration of the full range of DeepSeek’s open-source large language model. Its brands, such as M-Hero and Nano Box, are set to incorporate and deploy this technology in their vehicles soon.

    Among these, the intelligent cockpit of the M-Hero 917, one of Dongfeng Motor’s luxury models, has already integrated the DeepSeek-R1 model, with an over-the-air update scheduled for April 2025.

    Through continuous customized model distillation and AI training, M-Hero owners will enjoy a significantly enhanced smart cockpit, featuring faster voice recognition, improved semantic understanding and humanlike responses, as well as expanded functionality for offroad driving scenarios, said Dongfeng Motor.

    MIL OSI China News

  • MIL-OSI China: Reformist ink artist’s works on display at Shenzhen Art Museum

    Source: China State Council Information Office 3

    Romance and reforms, an ink master revived tradition with great courage.

    The year was 1956. Late ink artist Li Keran was painting by the scenic West Lake in Hangzhou, Zhejiang province, when rain drops fell on the paper he was drawing on. The parts smudged by the rain didn’t make Li panic, rather, gave him new ideas.

    While he continued to blend the marks made by the raindrops into his layering and shading, he also felt that it was a clue, a sign from nature for him to reform the ink painting tradition.

    Li was then in the middle of an ambitious project to invent new approaches to classic Chinese painting. He traveled extensively throughout the country in the 1950s to gather varying views, watch and imbibe different folk customs, and sketch outdoors.

    The fruits of these journeys were a collection of paintings in which Li introduced a modern context to the centuries-old ink tradition, addressing new aesthetic demands.

    Wandering in the Rain, an exhibition now on at the Shenzhen Art Museum, in Guangdong province, running until Feb 16, looks back on Li’s courageous efforts at that time. The paintings are from the collection of the Li Keran Foundation in Beijing.

    Li’s works present a majestic and romantic mood that is different from those created by his predecessors in ancient times, for which he was judged by conservatives. His endeavors were also critiqued by those who then questioned whether ink art could be modernized.

    But time has proved that Li’s reforms have been highly recognized, and continue to inspire more followers.

    MIL OSI China News

  • MIL-OSI China: Tesla battery Megafactory in Shanghai launches production

    Source: China State Council Information Office 3

    This photo shows a production launch ceremony of U.S. carmaker Tesla’s Megafactory in Shanghai, east China, Feb. 11, 2025. [Photo/Xinhua]

    U.S. carmaker Tesla’s new Megafactory in Shanghai, dedicated to manufacturing its energy-storage batteries, known as Megapacks, launched production on Tuesday, marking a significant expansion of the company’s presence in China.

    With an initial annual production capacity of 10,000 units, or roughly 40 gigawatt-hours of energy storage, this Megafactory is set to significantly contribute to Tesla’s global energy storage goals. The company anticipates a year-on-year increase of 50 percent in energy storage deployments in 2025.

    Covering an area of approximately 200,000 square meters, the new Shanghai plant represents a total investment of about 1.45 billion yuan (around 202 million U.S. dollars), according to the administration of the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, where this Tesla facility is located.

    Notably, mass production at the factory commenced just eight months after construction began, serving as a new example of “Tesla speed” in China, with the Shanghai Gigafactory, Tesla’s first plant in the country’s eastern financial hub, having been built and inaugurated within a year in 2019.

    “We’ve witnessed the incredible speed of Shanghai and Tesla once again. I’m excited to have this factory kick off an exciting year for Tesla,” said Mike Snyder, vice president of Tesla, at the launch ceremony on Tuesday, expressing confidence that the new factory will become a cornerstone of Tesla’s global production network. 

    An aerial drone photo shows U.S. carmaker Tesla’s Megafactory in Shanghai, east China, Feb. 8, 2025. [Photo/Xinhua]

    This photo shows a commercial energy-storage system at U.S. carmaker Tesla’s Megafactory in Shanghai, east China, Feb. 11, 2025. [Photo/Xinhua]

    This photo shows U.S. carmaker Tesla’s Megafactory in Shanghai, east China, Feb. 8, 2025. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI New Zealand: Heritage – Frozen in time – National Lamb Day celebrations at Totara Estate

    Source: Heritage New Zealand

    Totara Estate near Ōamaru will play a prime role in this year’s National Lamb Day celebrations on February 15.
    The historic farmstead, a Tohu Whenua cared for by Heritage New Zealand Pouhere Taonga, sent the first-ever shipment of frozen export meat from New Zealand to Britain in 1882, an event that created the multi-billion dollar industry that changed New Zealand’s economy forever.
    February 15 commemorates the exact day 143 years ago when the ship Dunedin left Port Chalmers for the three-month voyage to London carrying just under 5000 sheep and lamb carcasses that had been freshly processed at Totara Estate.
    “This was a significant moment in New Zealand’s history and Totara Estate was at the epicentre of it. It’s very appropriate that this place is a central part of National Lamb Day celebrations,” says Totara Estate Property Lead Jacqui Allison.
    Celebrations will be particularly fitting for the occasion, with New Zealand’s rich agricultural heritage featuring prominently.
    “We’re looking forward to inspiring people with live demonstrations by local experts who will showcase a range of farm-related talents including knife skills, butchery, blade shearing, spinning and other wool crafts,” she says.
    “Visitors will also be able to engage their minds with some captivating live readings and entertaining talks that bring history and culture to life – or just ‘chill’ to the sounds of local musicians who will create the perfect festive mood.”
    And if that wasn’t enough, a range of outdoor games for kids, and older people with a finely developed inner child, promise laughter and smiles all around.
    People can bring their own picnic, or support some of the local businesses who will be there on the day, including Mark from That Food Guy and Barb from Brews and Bites.
    “We’re looking forward to hosting the community in what is shaping up to be a fantastic celebration of a very important date in New Zealand’s history,” says Jacqui.

    Totara Estate would like to acknowledge the support of Gallaway Cook Allan , the National Lamb Day team and The Better Drinks Company in putting together this event.
    From minus zero to hero
    It was a big gamble sending a load of frozen meat from New Zealand to London in 1882.
    Besides the huge investment of actually prepping the first export shipment, the sheer size of the cargo versus the logistics of carrying coal for the long trip made a steam-powered ship impractical, and so the cargo had to travel for three months under sail. Success of the mission depended on the onboard refrigeration system running well.
    Fortunately the man at the helm of the Dunedin was Captain John Whitson, who had taken the time to read up on refrigeration prior to leaving New Zealand. A good thing too. On the way, the ship was becalmed in the tropics and the crew noticed that the cold air in the hold was not circulating, endangering the meat.
    Whitson crawled into the hold, sawed some extra air holes to improve the flow of cold air in order to keep the temperature low, though almost froze to death in the process. Thankfully the crew managed to haul him out of the freezer and resuscitate him.
    As a result of Whitson’s determination, the ship arrived with its cargo in excellent condition. Only one carcass had to be condemned. 

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Mouse Point Road, Hurunui closed following crash

    Source: New Zealand Police (District News)

    Emergency services are responding to a two-vehicle crash on Mouse Point Road, Hurunui.

    The crash was reported just after 4:20pm, near Hanmer Springs Road.

    Initial indications are that there are serious injuries.

    The road is currently closed. Motorists are advised to avoid the area and expect delays.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News

  • MIL-OSI Submissions: Australia – CBA extends commitment to regional branch network until 31 July 2027

    Source: Commonwealth Bank of Australia

    CBA has extended its commitment to regional Australia, with all regional branches to remain open until at least 31 July 2027.

    Our focus is on supporting our customers in regional and remote communities into the future.  

    We’re actively and directly communicating with community leaders across Australia so we can serve and support our regional retail and business customers with their banking needs, as well as help familiarise communities with the full range of banking services available to them.  

    As part of maintaining Australia’s largest banking presence, CBA will this year invest $100 million in upgrading its branches and ATM fleet.

    The extension of the commitment announced in July 2023 ensures CBA continues to offer the largest branch network in Australia and offers reassurance to regional communities.

    Notes to Editor

    Branch locations are defined in line with the Accessibility/Remoteness Index of Australia (ARIA+), which is recognised as a leading indicator of remoteness in Australia. ARIA+ is used by the Australian Bureau of Statistics (ABS) for its Australian Statistical Geography Standard (ASGS) Edition 3, and the Australian Prudential Regulation Authority (APRA) for its annual ADI Points of Presence report. ARIA+ is an objective measure of physical distance of populations to services.

    MIL OSI – Submitted News

  • MIL-OSI Economics: Money Market Operations as on February 10, 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) 5,66,515.61 6.28 5.00-6.75
         I. Call Money 12,879.97 6.32 5.15-6.45
         II. Triparty Repo 3,80,693.90 6.25 5.95-6.35
         III. Market Repo 1,71,142.14 6.35 5.00-6.60
         IV. Repo in Corporate Bond 1,799.60 6.53 6.40-6.75
    B. Term Segment      
         I. Notice Money** 1,280.50 5.92 5.90-6.35
         II. Term Money@@ 597.50 6.35-6.60
         III. Triparty Repo 724.60 6.34 6.20-6.45
         IV. Market Repo 328.11 6.36 6.35-6.40
         V. Repo in Corporate Bond 585.00 8.00 8.00-8.00
      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 Mon, 10/02/2025 1 Tue, 11/02/2025 2,01,310.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 10/02/2025 1 Tue, 11/02/2025 4,125.00 6.50
    4. SDFΔ# Mon, 10/02/2025 1 Tue, 11/02/2025 67,439.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       1,37,996.00  
    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          
      (III) Long Term Operations^          
         (a) Repo Fri, 07/02/2025 56 Fri, 04/04/2025 50,010.00 6.31
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,328.42  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     58,338.42  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     1,96,334.42  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on February 10, 2025 9,13,487.07  
         (ii) Average daily cash reserve requirement for the fortnight ending February 21, 2025 9,12,240.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ February 10, 2025 1,25,736.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on January 24, 2025 -34,103.00  
    @ 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.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2024-2025/2013 dated January 27, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2125

    MIL OSI Economics