Category: Statistics

  • MIL-OSI Asia-Pac: Warm And Humid Nights With Onset Of Southwest Monsoon Conditions

    Source: Government of Singapore

    Singapore, 2 June 2025 – Winds over Singapore are forecast to strengthen and blow from the southeast or southwest in early June 2025, as the Southwest Monsoon sets in over the region. The Southwest Monsoon season typically extends into September and is generally a drier season compared to other times of the year.

    2          In the first fortnight of June 2025, localised short-duration thundery showers are expected over parts of the island in the late morning and afternoon on some days. In addition, Sumatra squalls may bring widespread thundery showers and gusty winds in the pre-dawn and morning on a few days. The total rainfall for the first fortnight of June 2025 is forecast to be near average over most parts of the island.

    3          The daily maximum temperatures are likely to be around 34 degrees Celsius on most days and reach 35 degrees Celsius on a few days. The nights are likely to be warm and humid. On several nights, the temperatures may stay above 29 degrees Celsius.

    4          For updates of the daily weather forecast, please visit the MSS website (www.weather.gov.sg), NEA website (www.nea.gov.sg), or download the myENV app.

     REVIEW OF THE PAST TWO WEEKS (16 – 31 MAY 2025)

    5          Inter-monsoon conditions prevailed over Singapore and the surrounding region with winds generally light and variable in direction.

    6          Localised short-duration thundery showers fell over parts of the island on several days in the second fortnight of May 2025. On 18 May 2025, the passage of a Sumatra squall brought widespread thundery showers over Singapore in the late morning and early afternoon. The daily total rainfall of 78.6mm recorded at Sembawang that day was the highest rainfall recorded for the second fortnight of May 2025.

    7          The second fortnight of May 2025 was warm, with daily maximum temperatures registering above 35 degrees Celsius on several days. The highest daily maximum temperature of 36.2 degree Celsius was recorded at Paya Lebar on 24 May 2025.

     8          Singapore recorded below average rainfall in the second fortnight of May 2025. The rainfall around Simei was about 63 per cent below average.

     

    CLIMATE STATION STATISTICS

     Long-term Statistics for June
     (Climatological reference period: 1991-2020)
    Average daily maximum temperature: 31.9      °C
    Average daily minimum temperature: 25.7 °C
    Average monthly temperature: 28.5 °C
         
    Average rainfall: 135.3 mm
    Average number of rain days: 13  
     
    Historical Extremes for June
    (Rainfall since 1869 and temperature since 1929)
    Highest monthly mean daily maximum temperature: 33.2  °C (1997)
    Lowest monthly mean daily minimum temperature: 23.2  °C (1965)
         
    Highest monthly rainfall ever recorded:  378.7  mm (1954)
    Lowest monthly rainfall ever recorded: 21.8  mm (2009)


    METEOROLOGICAL SERVICE SINGAPORE

    2 Jun 2025

    ~~ End ~~

    For more information, please submit your enquiries electronically via the Online Feedback Form or myENV mobile application.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Provisional statistics of retail sales for April 2025

    Source: Hong Kong Government special administrative region

         The Census and Statistics Department (C&SD) released the latest figures on retail sales today (June 2).

         The value of total retail sales in April 2025, provisionally estimated at $28.9 billion, decreased by 2.3% compared with the same month in 2024. The revised estimate of the value of total retail sales in March 2025 decreased by 3.5% compared with a year earlier. For the first 4 months of 2025 taken together, it was provisionally estimated that the value of total retail sales decreased by 5.6% compared with the same period in 2024.

         Of the total retail sales value in April 2025, online sales accounted for 8.1%. The value of online retail sales in that month, provisionally estimated at $2.3 billion, decreased by 3.5% compared with the same month in 2024. The revised estimate of online retail sales in March 2025 decreased by 0.5% compared with a year earlier. For the first 4 months of 2025 taken together, it was provisionally estimated that the value of online retail sales decreased by 2.2% compared with the same period in 2024.

         After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales in April 2025 decreased by 3.3% compared with a year earlier. The revised estimate of the volume of total retail sales in March 2025 decreased by 4.7% compared with a year earlier. For the first 4 months of 2025 taken together, the provisional estimate of the total retail sales decreased by 7.2% in volume compared with the same period in 2024.

         Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing April 2025 with April 2024, the value of sales of commodities in supermarkets decreased by 2.4%. This was followed by sales of jewellery, watches and clocks, and valuable gifts (-1.7% in value); wearing apparel (-5.6%); motor vehicles and parts (-53.4%); fuels (-12.5%); footwear, allied products and other clothing accessories (-5.1%); furniture and fixtures (-16.7%); and optical shops (-0.2%).

         On the other hand, the value of sales of other consumer goods not elsewhere classified increased by 13.4% in April 2025 over a year earlier. This was followed by sales of medicines and cosmetics (+7.2% in value); food, alcoholic drinks and tobacco (+3.0%); electrical goods and other consumer durable goods not elsewhere classified (+1.6%); commodities in department stores (+2.1%); books, newspapers, stationery and gifts (+11.7%); and Chinese drugs and herbs (+3.8%).

         Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales increased by 4.2% in the three months ending April 2025 compared with the preceding three-month period, while the provisional estimate of the volume of total retail sales increased by 7.1%.

    Commentary

         A government spokesman said that retail sales performance showed signs of stabilisation in recent months. The value of total retail sales recorded a modest year-on-year decline of 2.3% in April 2025. The decline narrowed further in April compared with the previous months despite the effect of the late arrival of the Easter holidays this year (in mid-April this year but in the junction of March and April last year) when more residents made outbound trips during the month.

         Looking ahead, the spokesman said that the Government’s proactive promotion of tourism and mega events will help stimulate the consumption market. Increase in employment earnings and sustained steady growth of the Mainland economy will also bolster consumption sentiment. These factors will be supportive to the retail sector, though ongoing changes in consumption patterns and competition among businesses amid the uncertain macroeconomic environment will still pose challenges.

    Further information

         Table 1 presents the revised figures on value index and value of retail sales for all retail outlets and by broad type of retail outlet for March 2025 as well as the provisional figures for April 2025. The provisional figures on the value of retail sales for all retail outlets and by broad type of retail outlet as well as the corresponding year-on-year changes for the first 4 months of 2025 taken together are also shown.

         Table 2 presents the revised figures on value of online retail sales for March 2025 as well as the provisional figures for April 2025. The provisional figures on year-on-year changes for the first 4 months of 2025 taken together are also shown.

         Table 3 presents the revised figures on volume index of retail sales for all retail outlets and by broad type of retail outlet for March 2025 as well as the provisional figures for April 2025. The provisional figures on year-on-year changes for the first 4 months of 2025 taken together are also shown.

         Table 4 shows the movements of the value and volume of total retail sales in terms of the year-on-year rate of change for a month compared with the same month in the preceding year based on the original series, and in terms of the rate of change for a three-month period compared with the preceding three-month period based on the seasonally adjusted series.

         The classification of retail establishments follows the Hong Kong Standard Industrial Classification (HSIC) Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.

         These retail sales statistics measure the sales receipts in respect of goods sold by local retail establishments and are primarily intended for gauging the short-term business performance of the local retail sector. Data on retail sales are collected from local retail establishments through the Monthly Survey of Retail Sales (MRS). Local retail establishments with and without physical shops are covered in MRS and their sales, both through conventional shops and online channels, are included in the retail sales statistics.

         The retail sales statistics cover consumer spending on goods but not on services (such as those on housing, catering, medical care and health services, transport and communication, financial services, education and entertainment) which account for over 50% of the overall consumer spending. Moreover, they include spending on goods in Hong Kong by visitors but exclude spending outside Hong Kong by Hong Kong residents. Hence they should not be regarded as indicators for measuring overall consumer spending.

         Users interested in the trend of overall consumer spending should refer to the data series of private consumption expenditure (PCE), which is a major component of the Gross Domestic Product published at quarterly intervals. Compiled from a wide range of data sources, PCE covers consumer spending on both goods (including goods purchased from all channels) and services by Hong Kong residents whether locally or abroad. Please refer to the C&SD publication “Gross Domestic Product by Expenditure Component” for more details.

         More detailed statistics are given in the “Report on Monthly Survey of Retail Sales”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080003&scode=530).

         Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of the C&SD (Tel: 3903 7400; email : mrs@censtatd.gov.hk).

    MIL OSI Asia Pacific News

  • MIL-OSI China: Domestic helpers, nannies, butlers all in high demand

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

    An undated photo shows nannies learning how to take care of babies at a training center in Jimo, Shandong province. [Photo/Xinhua]

    Stella Tian, a 33-year-old office worker in Beijing, has two toddlers — a 1-year-old and a 3-year-old — and employs two nannies to help look after the children and simplify her life, as she and her husband have hectic work lives.

    “I have changed my nannies a few times. Some were not professional enough and didn’t get along well with my family members, and some had other plans that came up. It’s not easy to find a suitable nanny for the long term,” Tian said.

    Like Tian, demand for homemaking services among Chinese urban families is surging, and trained domestic helpers, nannies and nurses for the elderly are in great demand, promising to incubate a market expected to reach 1.3 trillion yuan ($181.1 billion) in 2026.

    The forecast, made by the Ministry of Commerce’s Department of Trade in Services and Commercial Services, together with data analysis provider iiMedia Research, said China’s household services sector has maintained rapid growth.

    Millions of middle-income Chinese families, especially those with young children and aging family members, are seeking professional helpers to ease life’s burdens, while it has sometimes been difficult for them to find satisfactory professional homemakers. Compared with diversified and high-quality demand, there are still problems such as a shortage of professional supply and nonstandard industry development.

    It is estimated that there is a shortage of over 20 million domestic workers in China, according to the Ministry of Human Resources and Social Security. Demand for household services is no longer limited to daily chores, as online shopping and food deliveries have made it increasingly convenient for consumers, and they have indicated demand for higher-level specialized services, industry insiders said.

    To address such issues and further boost consumption, China has published a guideline to further promote the development of its home-based services sector, such as housekeeping, eldercare and childcare services, by expanding the scale and upgrading service quality. Such efforts aim to cultivate new growth points for the country’s services consumption, according to the document released by the Ministry of Commerce and eight other entities in late April.

    A series of measures have been proposed to improve the quality of household services supply, promote convenient consumption and optimize the consumption environment of the sector, according to the guideline.

    For example, the government will encourage household service enterprises to expand into emerging service areas such as professional deep cleaning, indoor air treatment and nutritional consulting, and strengthen integrated development with sectors such as home furnishings and interior decorating, the guideline said.

    In addition, social capital is encouraged to flow into the household services sector, and local governments may include homemaking occupations into local shortage directories. It is also suggested that more employment-oriented domestic service training should be offered, the guideline said.

    “Household services are an important sector that helps promote consumption, benefits people’s lives and stabilizes employment,” said Kong Dejun, director of the Department of Trade in Services and Commercial Services at the commerce ministry.

    “China will continue to expand domestic demand, strengthen supply-side structural reform, give full play to the country’s human resources advantages and cultivate new growth points of service consumption,” Kong said.

    Currently, China has over 30 million household service providers such as nannies and housekeepers. Last year, total revenue of the sector stood at 1.23 trillion yuan, up 6 percent year-on-year, the ministry said.

    Women are the main practitioners in the household services industry. The All-China Women’s Federation said the sector is showing a growing trend that practitioners are becoming younger and more professional, and it would continue to help promote the digitalization of the sector.

    On the demand side, the need for babysitters and caregivers for the elderly is huge. The number of those aged 60 and above has exceeded 300 million, and the over-65 population has topped 220 million. In addition, China has some 30 million youngsters aged below three, according to the National Bureau of Statistics.

    China will cultivate a group of distinctive brands in the homemaking sector and foster more platform-based companies to help match supply and demand.

    “We will guide various regions to implement employment and entrepreneurship policies, and homemaking personnel should enjoy tax incentives and social security subsidies upon laws and regulations,” said Luo Shoufeng, deputy head of the department of migrant workers’ jobs at the Ministry of Human Resources and Social Security.

    Catering to such demand, a number of platform-based homemaking service companies such as 58.com and Ayibang have continued to develop their business to raise the efficiency of supply-demand matching.

    Beijing-based life services platform 58.com said some 2.6 million homemakers have registered on the platform, and all of them will undergo pre-work training to ensure the provision of standardized and professional services.

    It has launched more than 200 training bases nationwide, integrating online teaching and offline training sessions, and the company became the first in the sector to introduce VIP membership services for consumers.

    “For emerging household services demand such as deep cleaning, clutter control and storage, pest management and home management services, we have launched more than 10 professional courses. Those include courses that we developed with entities in Japan and Hong Kong together, in an aim to foster more high-quality household service providers,” said Li Zijian, president of 58.com’s domestic business.

    In densely populated first-tier cities such as Beijing, Shanghai and Guangzhou, Guangdong province, demand for homemaking services has been the highest, 58.com found.

    Among different types of services, demand for household cleaning, home appliance cleaning, nannies and maternity matrons — or yuesao, who mainly care for newborns — has been the highest, the company said.

    Most consumers choose to hire day-shift nannies and part-time workers to assist with household chores and cooking. Demand for eldercare and childcare has continued to grow. In May, demand for nannies and eldercare service providers jumped 83 percent and 48 percent on a yearly basis, respectively.

    For deep cleaning of homes, consumers pay more attention to the thorough cleaning of kitchen oil stains, bathroom tiles and hard-to-clean corners and under spaces. For home appliances, cleaning demand for air-conditioners, range hoods and washing machines has been the highest. In May, demand for air-conditioning cleaning climbed by 76 percent month-on-month and 26 percent year-on-year.

    “Urbanites have shown an increasingly higher health awareness, and a growing number of consumers choose to clean their airconditioners before the arrival of summer to reduce respiratory diseases,” Li said.

    Meanwhile, China’s high-net-worth families are becoming younger, and they are showing a growing demand for hiring private butlers as they embrace such a trend in Western countries, and more college graduates, including those who have studied abroad, are looking to butlers as career choices.

    Private butlers usually act as senior life consultants for their employers’ core family management issues. Unlike ordinary housekeeping service personnel, private butlers usually need to understand advanced family affairs.

    They usually speak one or two foreign languages, understand children’s educational planning, and have knowledge about issues such as nutrition, luxury products and ironing. They also cook multiple cuisines and are skillful at safeguarding and risk management, according to Meiyinghui Family Service Co Ltd, a Beijing-based butler management company.

    The average salary of a private butler is about 200,000 yuan to 400,000 yuan annually for those who have one or two years of work experience, and the salary grows as they master more skills, thus attracting many people to engage in this profession.

    “Employers would like to hire young butlers, including college graduates. The demand has become higher, as more families have a growing awareness of hiring butlers. Besides, many families have been quite busy with business matters after the COVID-19 pandemic, and they need to hire someone for household management,” said Zhang Ran, founder and president of Meiyinghui Family Service.

    “Now, 70 percent of butlers in China are females. A lot of graduates and qualified people are still hesitating about engaging in this profession, and the supply of butlers is seeing a shortage. We plan to host a session to introduce the career path of the profession and attract more graduates,” Zhang said.

    Besides major cities such as Beijing and Shanghai, some families in second-tier cities such as Qingdao in Shandong province and Shijiazhuang, Hebei province have also indicated high demand for hiring butlers, the company found.

    Butlers usually need to take a few months of training classes before they start working. Li Siwen is a teacher who conducts training sessions for butlers, earning a master’s degree in hotel management from the University of Manchester.

    “I’m quite interested in this sector. I used to work in the human resources management department of a company, and this job is similar. I mainly teach students psychology, color matching, sorting and organization of items, and business etiquette,” Li said.

    MIL OSI China News

  • MIL-OSI China: Chinese well-drilling technology turns Egypt’s deserts into farmland

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

    As summer begins, patches of lush farmland stretch across Egypt’s Western Desert, an area that, until recently, was dominated by sand and rocks. Thanks to the deep wells drilled by the Egypt branch of China’s Zhongman Petroleum and Natural Gas Group (ZPEC), wheat, alfalfa and potatoes now thrive in tidy rows under the desert sun.

    These wells, part of a broader effort to reclaim desert land for agriculture, have transformed the barren landscape into productive farmland, offering a model for sustainable development in arid regions and underscoring the potential of international cooperation in addressing food security and ecological restoration.

    The project is an example of the high-quality Belt and Road cooperation. In Egypt, the Belt and Road Initiative (BRI) has evolved into a platform for transformative collaboration, extending beyond infrastructure to encompass agriculture, technology and industry. By tackling pressing challenges such as food insecurity, unemployment and technological gaps, the initiative is helping to lay the groundwork for more resilient and sustainable growth.

    Drilling for resource of life

    Egypt, home to over 100 million people, grapples with the daunting task of expanding farmland in a country where only about 4 percent of the land is arable. To reduce reliance on food imports, the Egyptian government has stepped up efforts to reclaim desert land since 2015, with water sources development a crucial part of this push.

    ZPEC, operating in Egypt since 2016, has played a key role. Its teams — composed of Chinese and Egyptian employees — have drilled more than 680 wells across the country, from the Sinai Peninsula to Aswan.

    This photo taken on May 3, 2025 shows a well-drilling rig at night at the site of Owainat Water Well Project in the desert of New Valley Governorate, Egypt. [Photo/Xinhua]

    Zhao Baojiang, project manager for ZPEC’s Owainat well-drilling operation in Egypt, said his team has drilled 63 wells, each about 450 meters deep, in less than a year by overcoming such challenges as extreme temperatures, sandstorms, complex geology and logistical hurdles.

    “We’re having our first wheat harvest this year, and we’re very happy to cooperate with the Chinese company,” said Abou-elKhier Ibrahim, manager of the Owainat sector of the Future of Egypt agricultural project.

    Wheat, Egypt’s dietary cornerstone, is in high demand. According to a report released by the UN Food and Agriculture Organization, per capita wheat consumption in Egypt averages about 146 kg annually.

    Mohamed Elhosary, electromechanical division manager of the Owainat sector of the Future of Egypt agricultural project, estimated that each feddan (about 0.42 hectares) of the farmland in Owainat can yield 3 tons of wheat.

    “The yield from each feddan is sufficient to cover the annual wheat consumption of at least 20 Egyptians,” Zhao Wutao, general manager of the ZPEC branch in Egypt, told Xinhua.

    Innovation brings benefits

    In Minya Province, 360 km south of Cairo, ZPEC is also supporting the farm of Canal Sugar Company, a joint venture between Egypt and the United Arab Emirates. The farm allocated a significant portion of its land to sugar beet production for a large-scale local refinery.

    ZPEC engineers faced technical hurdles there as well. According to Abumesalam Mohamed Gouda, operations manager of ZPEC’s Egypt branch, the groundwater layer in Minya’s desert is unstable, and large-diameter drilling poses risks of collapse and leakage.

    Workers operate on a well-drilling rig at the site of Owainat Water Well Project in the desert of New Valley Governorate, Egypt, on May 3, 2025. [Photo/Xinhua]

    To address these issues, the company’s technical team introduced air foam drilling technology, which uses stable foam as drilling fluid to prevent leakage and increase efficiency. This method was later shared with local companies to help improve their performance.

    Hassan Gamal, technical manager of the Canal Sugar farm, said that the 193 wells drilled by ZPEC can irrigate 30,000 feddans (12,600 hectares) of land. In 2023 alone, the farm planted 22,000 feddans (9,240 hectares) of beets, which were processed into sugar and sold widely. “This wouldn’t have been possible without ZPEC’s wells,” he said.

    Beyond agriculture, ZPEC’s work has also supported local employment and skills training.

    Mohamed Gaber, who joined ZPEC as a worker five years ago, is now a platform manager. He credited his Chinese colleagues for teaching him skills and helping him navigate challenges. “I always strive to do my best with the support of teammates, and I’m proud to grow in such a team,” he said.

    Growing Partnership

    For many Egyptians, these projects represent more than infrastructure — they represent progress toward greater food security, stable income, and a hopeful future, experts said, expressing their eagerness to expand collaboration with Chinese enterprises.

    “This is a notable and very positive contribution by the Chinese company in advancing agricultural development in Egypt,” Ahmed Galal, dean of the Higher Institute for Agricultural Cooperation in Cairo, told Xinhua.

    “Any efforts in extracting water or increasing Egypt’s water resources directly lead to positive results for agricultural development in Egypt … We certainly hope it continues,” he said.

    The well-drilling project is just part of broader cooperation between Egypt and China under the BRI. Other projects include the Central Business District of Egypt’s new administrative capital, a textile city in Sadat City, and the China-Egypt TEDA Suez Economic and Trade Cooperation Zone in Ain Sokhna. These ventures are seen by Egyptian experts as essential engines for job creation, industrialization and joint development.

    This photo taken on May 3, 2025 shows makeshift rooms for workers at the site of Owainat Water Well Project in the desert of New Valley Governorate, Egypt. [Photo/Xinhua]

    “China is now increasingly viewed as a development partner that contributes to job creation and improved living standards,” said Waleed Gaballah, a member of the Egyptian Association for Political Economy, Statistics and Legislation.

    He stressed China’s leadership in renewable energy, electric vehicles and advanced manufacturing. “Providing access to these technologies at a reasonable cost to countries participating in the BRI could make a major shift in the way of life in their societies.”

    Echoing his view, Galal said he looks forward to more Chinese investment in his country, as the ongoing Egypt-China cooperation under the BRI is “fruitful and promising.”

    “We in Egypt truly need all such investments. I also hope this cooperation grows in all fields, because it is, first of all, mutually beneficial — a win-win situation in terms of shared gains and joint development,” he said.

    MIL OSI China News

  • MIL-OSI Banking: RBI launches Survey on Computer Software and Information Technology Enabled Services (ITES) Exports: 2024-25

    Source: Reserve Bank of India

    The Reserve Bank has launched the 2024-25 of its annual survey on Computer Software and Information Technology Enabled Services (ITES) Exports.

    The survey collects data on various aspects of computer services exports as well as exports of information technology enabled services (ITES) and business process outsourcing (BPO). The survey results are disseminated in public domain besides being used in compilation of India’s external sector statistics.

    The survey schedule for the 2024-25 round is required to be filled in by all software and ITES/BPO exporting entities. The format of the ITES survey schedule has been updated for the current round. The soft form of this survey schedule (both in Hindi and English) is available on the RBI’s website under the head ‘Regulatory Reporting’ → ‘List of Returns’ → ‘Return Name’ → ‘ITES – Survey Schedule’ [or under the head ‘Forms’ (available at the bottom of the home page) and sub-head ‘Survey’], which can be duly filled and submitted via email by July 15, 2025.

    The instructions are provided in FAQs and, in case of any query or clarification, kindly contact us at itesquery@rbi.org.in or given below address.

    The Director,
    International Investment Position Division,
    Department of Statistics and Information Management (DSIM),
    Reserve Bank of India,
    C-9, 5th floor, Bandra-Kurla Complex, Bandra (E),
    Mumbai – 400 051.
    Please click here to send email.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/453

    MIL OSI Global Banks

  • MIL-OSI Banking: RBI launches the Survey on Foreign Liabilities and Assets of Mutual Funds and Asset Management Companies: 2024-25 round

    Source: Reserve Bank of India

    The Reserve Bank has launched the 2024-25 round of its annual survey on ‘Foreign Liabilities and Assets of Mutual Funds and Asset Management Companies’. The survey collects the information from mutual fund companies and asset management companies on their external financial liabilities and assets as at end-March of the latest financial year. The survey results are disseminated in the public domain besides being used in compilation of India’s external sector statistics.

    Asset management companies (AMCs) are required to submit the annual return on Foreign Liabilities and Assets (FLA) online through the web-based portal (https://flair.rbi.org.in) by July 15, 2025.

    In addition, mutual fund companies are required to fill the survey schedule (Schedule-4), which is available on the RBI website under the head ‘Regulatory Reporting’ → ‘List of Returns’ → ‘FLA MF – Survey Schedule’ [or under the head ‘Forms’ (available at the bottom of the home page) and sub-head ‘Survey’], and send via e-mail by July 15, 2025.

    Both Hindi and English formats are available for Schedule-4 and reporting companies may use either of them. Please refer to the instructions with FAQs and in case of any query or clarification, kindly contact:

    The Director,
    International Investment Position Division (IIPD),
    Department of Statistics and Information Management (DSIM),
    Reserve Bank of India,
    C9-5th floor, Bandra-Kurla Complex, Bandra (East),
    Mumbai-400051.
    Please click here to send email.

    Ajit Prasad           
    Deputy General Manager
    (Communications)      

    Press Release: 2025-2026/452

    MIL OSI Global Banks

  • MIL-OSI Banking: RBI launches the 15th round of the Survey on Foreign Collaboration in Indian Industry

    Source: Reserve Bank of India

    The Reserve Bank of India has been conducting the Survey on Foreign Collaboration in Indian Industry since 1965. The 15th round of the survey with 2023-24 and 2024-25 as the reference period has now been launched.

    The survey collects information on the operations of the Indian companies having foreign technical collaboration in terms of performance indicators (e.g., production, exports, imports, cost of material) along with the crucial features of technology transfer agreements (viz., nature, duration, mode of payment, export restriction, provision of exclusive rights, use of technology after expiry of the agreements).

    The schedule of this survey is required to be filled by the Indian companies having technical collaborations with foreign companies. The soft form of the survey schedule (both in Hindi and English – one of which can be used) is available on the RBI website under the head ‘Regulatory Reporting’ -→ ‘List of Returns’ -→ ‘FCS – Survey Schedule’ [or under the head ‘Forms’ (available at the bottom of the home page in sub-head ‘Survey’), which can be duly filled-in and submitted to email by July 15, 2025.

    The instructions are provided in RBI website under ‘Research and Data’ in FAQs and, in case of any query or clarification, kindly contact us at:

    The Director,
    International Investment Position Division,
    Department of Statistics and Information Management (DSIM),
    Reserve Bank of India,
    C-9, 5th floor, Bandra-Kurla Complex, Bandra (E),
    Mumbai – 400 051.
    Please click here to send email.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/451

    MIL OSI Global Banks

  • MIL-OSI USA: Congresswoman Escobar Votes Against Republican Billionaire Tax Cuts, Slashes to Healthcare and Nutrition Programs

    Source: United States House of Representatives – Congresswoman Veronica Escobar (TX-16)

    Late last night, the House Budget Committee took up the Republicans’ disastrous reconciliation bill and Congresswoman Veronica Escobar (TX-16) voted no. Republicans reconvened the committee at 10pm ET to pass their bill, which had failed on Friday after several Republicans blocked it to negotiate further – and even more damaging – cuts to Medicaid. 

    “Republicans just approved a budget that will rip away healthcare, end nutrition programs, explode the national debt and be incredibly harmful to every American except those in the top 0.1%,” said Rep. Escobar. “This bill makes America sicker, poorer and hungrier so that billionaires can enjoy massive tax breaks.”

    The Penn Wharton Budget Model, a non-partisan scorekeeper released their analysis of the Republican budget bill. According to their economists, Americans who make less than $51,000 a year would see their after-tax income fall by about $700 as a result of the Republican proposal beginning next year. 

    This would devastate low-income communities such as El Paso, where 43% of El Pasoans earn less than $51,000 according to census statistics.

    But the top 0.1 percent? The Penn Wharton Budget Model shows that the top 0.1 percent would see their after-tax income increase by an average of more than $389,000 starting next year.

    With this budget, Republicans are deliberately choosing to explode the deficit, and kick 13.7 million people off their healthcare. Americans will be sicker, poorer and hungrier because Republicans have chosen to prioritize billionaire handouts.

    Video of the Congresswoman’s reaction after the vote can be found here.

    MIL OSI USA News

  • MIL-OSI: TORRAS Personal Cooling with Coolify Series: A Tech-Driven Solution for Comfort, Wellness, and Women’s Health

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, June 01, 2025 (GLOBE NEWSWIRE) — As global temperatures continue to rise and daily comfort becomes a growing concern, TORRAS is making waves with its innovative Coolify series—a wearable air conditioner engineered to deliver rapid, personal cooling through cutting-edge semiconductor technology. But beyond its impressive specs and sleek aesthetics, Coolify is also gaining recognition for another powerful role: providing much-needed relief to women experiencing hot flashes and hormonal imbalances, especially during menopause.

    TORRAS, a technology brand known for blending innovation with lifestyle-driven solutions, believes that technology should serve real human needs, and Coolify is a perfect reflection of that mission.

    A Breakthrough in Personal Cooling Technology

    Coolify isn’t just another neck fan—it’s a wearable air conditioning system designed for next-generation, body-centered comfort. At its core lies an advanced semiconductor cooling plate embedded within the collar, capable of dropping the skin temperature on the neck by up to 18°F (10°C) within just 3 seconds. Unlike traditional fans that simply circulate ambient air, Coolify creates a genuine cooling effect that users can feel immediately.

    Engineered with ergonomics in mind, Coolify fits snugly around the neck and targets the sides and back of the neck—areas rich in arteries that play a crucial role in regulating core body temperature. By focusing cooling power on these critical zones, the device ensures rapid and efficient heat relief without compromising comfort.

    Additional features include:

    Three-speed smart temperature controls for customizable comfort
    8-hour battery life for all-day usability
    Ultra-quiet operation for discreet use in workspaces, social settings, or while sleeping
    Lightweight and travel-friendly design with a stylish, minimalist look that complements any outfit

    With its combination of advanced engineering and sleek design, Coolify has quickly become a favorite among tech-savvy consumers and outdoor enthusiasts alike. But some of its most impactful use cases come from a group that isn’t always the center of tech innovation: women in midlife.

    Supporting Women’s Health: A Lifesaver for Hot Flashes and Hormonal Spikes

    For women going through menopause, hot flashes are among the most common and disruptive symptoms. Sudden spikes in body temperature, facial flushing, sweating, and anxiety can make everyday life—whether at home, work, or out in public—uncomfortable and overwhelming. Traditional solutions like hormone therapy or cooling gels are either invasive or short-lived.

    This is where Coolify is quietly changing lives.

    Through direct customer feedback, TORRAS has discovered that a significant portion of Coolify users are women managing menopause-related symptoms. One user shared: “I was waking up drenched and exhausted every night. Coolify changed that. I wear it before bed, and I finally sleep through the night.”

    Another wrote: “It’s discreet and stylish—I can wear it in the office or on walks without drawing attention. Most importantly, I feel like I have control over my body again.”

    Because the neck houses multiple arteries that influence body temperature, cooling this area directly helps reduce hot flash intensity and duration. Unlike fans or ice packs, Coolify is hands-free, consistent, and wearable throughout the day or night.

    By offering a non-invasive, drug-free, and dignified solution for a problem that affects millions of women, TORRAS is proud to be supporting a demographic often overlooked in the tech innovation space.

    Everyday Comfort, Anywhere and Everywhere

    While its impact on women’s wellness is significant, Coolify was also designed for a wide range of everyday scenarios, making it a multi-purpose companion for the modern lifestyle.

    1. Daily Commutes & Urban Life Subways, buses, traffic-filled streets—urban environments can feel stifling in the summer. Coolify ensures personal climate control with a simple press of a button, making rush hour more bearable and sweat-free.
    2. Travel & Theme Parks From family vacations to amusement parks like Disney, Coolify has been praised as the ultimate travel essential. A recent user blog even hailed it as the “best neck fan for Disney,” helping visitors beat the heat while enjoying outdoor attractions.
    3. Outdoor Adventures Whether hiking, biking, or camping, Coolify is a powerful yet compact cooling device for those who love the outdoors. With no external fans to hold and no cords to manage, it allows full freedom of movement while keeping body temperature in check.
    4. Office & Remote Work Environments In offices where thermostats can’t be adjusted or in shared workspaces, Coolify provides personalized cooling without disturbing colleagues. Its low-noise operation makes it perfect for Zoom calls, deep focus sessions, and quiet rooms.
    5. Nighttime Use & Sleep Quality Some users incorporate Coolify into their nighttime routine, using it before sleep or even throughout the night to prevent heat spikes, leading to better rest and reduced sleep disturbances.

    Tech with Purpose: TORRAS’s Vision for Human-Centered Innovation

    More than a cooling gadget, Coolify represents a new frontier of wearable wellness tech. By marrying scientific design with empathy for daily challenges—like menopausal discomfort, urban heat stress, and the need for discreet comfort—TORRAS has crafted a product that is both technically advanced and emotionally intelligent.

    “We didn’t just want to create a product that cools the skin,” says a spokesperson for TORRAS. “We wanted to create a product that elevates how people feel, improves their day-to-day lives, and empowers them to move freely, comfortably, and confidently—no matter the temperature or stage of life.”

    As TORRAS continues to expand its innovation pipeline, the company remains committed to addressing real human needs with high-performance, beautifully designed solutions. Whether you’re managing hormonal transitions, chasing your kids through a summer park, or just trying to stay cool on the subway, Coolify is here to offer a smarter, kinder, cooler experience.

    About TORRAS TORRAS is a global lifestyle technology brand dedicated to enhancing everyday life through smart, human-centric design. From award-winning smartphone accessories to cutting-edge wearable devices, TORRAS blends function and form to create thoughtful solutions for modern living.

    For more information, visit: https://coolify.torraslife.com

    Media Contact

    TORRAS Marketing: marketing@torraslife.com
    TORRAS PR Manager: Ray@torras-global.com

    The MIL Network

  • MIL-OSI Australia: National Anti-Scam Centre calls for stronger business role to disrupt scams

    Source: Australian Ministers for Regional Development

    The National Anti-Scam Centre is calling on businesses to join the fight against increasingly sophisticated scams by partnering and sharing data after Australians reported about $119 million in scam-related losses in the first four months of 2025.

    The statistics, sourced from reports to Scamwatch, show that despite a 24 per cent drop in overall scam reports to 72,230, reported losses increased by 28 per cent to $118,993,148 compared to the same time last year.

    However, the reported losses for early 2025 were 38 per cent below the $193.2 million in reported losses in the first four months of 2023.

    The biggest increase in reported losses in 2025 came from phishing scams, which involve scammers impersonating entities such as government agencies or financial institutions, which accounted for $13.7 million in financial losses, compared to $4.6 million in early 2024.

    “Scams are affecting Australians of all ages, often beginning with an unprompted or unexpected contact via social media and other digital platforms,” ACCC Deputy Chair Catriona Lowe said.

    “Our approach to scam prevention is grounded in partnership. Sharing information is a key step towards improving community safety – organisations, such as banks, digital platforms, and telecommunication companies, can help disrupt scams faster and reduce the harm they cause.”

    “The work of our fusion cells has demonstrated that a piece of data that may be unremarkable on its own, when joined with other pieces of data, can form powerful intelligence. With data held across the ecosystem, sharing data with the National Anti-Scam Centre enables those vital connections to be made,” Ms Lowe said.

    The number of people reporting financial loss to social media scams increased by almost 50 per cent to 3,336 (up from 2,232 in 2024) and overall losses to these scams increased by 30 per cent to $23.4 million. Increases in the number of people reporting loss were also reported where initial scam contact occurred via digital channels including websites, email and mobile apps.

    Phone scams appear to be declining, with an 11 per cent drop in reports compared to early 2024; however, they still account for the highest overall financial losses of any contact method, with $25.8 million lost in the first four months of 2025.

    “While the average and median losses per victim have slightly decreased, the rise in overall financial loss and the number of people being impacted is a reminder to stay alert. We encourage all Australians to report suspicious scam activity, even if no money is lost as you can provide us with vital intelligence, and talk to friends and family to help spread awareness,” Ms Lowe said.

    “Businesses in all industries also need to stay alert to the risk of scams and adapt their systems to keep customers safe.”

    Scam Trends

    • Phishing scams had $13.7 million in financial losses reported to these scams, compared to $4.6 million in early 2024.
    • Investment scams also remain a significant issue, accounting for over half of all reported scam losses. In the first four months of 2025, Australians lost a total of $59 million to investment scams, a slight decrease of 1.4 per cent compared to last year. Despite this, investment scams continue to target vulnerable individuals with promises of high returns.
    • Scams through social media have increased considerably. There was a 50 per cent increase in people reporting financial loss through social media, with 3,300 reports totalling $23.4 million.
    • Older Australians aged 65 and over reported the highest total losses of any age group, totalling $33.1 million. However, younger Australians aged 25 to 34 (1,504 reports) and 35 to 44 (1,678 reports) were the most likely to report having lost money.

    How to spot and avoid scams

    STOP – Don’t give money or personal information to anyone if you’re unsure. Scammers will create a sense of urgency. Don’t rush to act. Say ‘no’, hang up, delete.

    CHECK – Ask yourself could the call or text be fake? Scammers pretend to be from organisations you know and trust. Contact the organisation using information you source independently, so that you can verify if the call is real or not.

    PROTECT – Act quickly if something feels wrong. Contact your bank immediately if you lose money. If you have provided personal information call IDCARE on 1800 595 160. The more we talk the less power they have. Report scams to the National Anti-Scam Centre’s Scamwatch service at scamwatch.gov.au when you see them. If you’re contacted on a messaging platform like WhatsApp or iMessage, please also report the scam in the app.

    Background

    The ACCC runs the National Anti-Scam Centre, which commenced on 1 July 2023, and Scamwatch service. The National Anti-Scam Centre is a virtual centre that sits within the ACCC and brings together experts from government, law enforcement and the private sector, to disrupt scams before they reach consumers.

    The National Anti-Scam Centre analyses and acts on trends from shared data and raises consumer awareness about how to spot and avoid scams.

    Scamwatch collects reports about scams to help us warn others and to take action to stop scams. It also provides up-to-date information to help consumers spot and avoid scams.

    MIL OSI News

  • MIL-Evening Report: With interest rates on the way down, could house prices boom? Here’s what research suggests

    Source: The Conversation (Au and NZ) – By James Graham, Senior Lecturer in Economics, University of Sydney

    Jenny Evans/Stringer/Getty

    With the Reserve Bank of Australia easing monetary policy, interest rates are on the way down.

    Already this year, mortgage pre-approvals had begun to rise, suggesting many aspiring home buyers are excited by the prospect of cheaper home loans.

    With further cuts expected before the end of the year, some economists are predicting we could be on the cusp of another house price boom. Lower interest rates enable people to borrow more and potentially spend more on homes, bidding up prices.

    So, how might the Reserve Bank’s actions affect home buying behaviour and the housing market more broadly? Research offers us some clues.

    How rates affect prices

    Research shows that when a central bank lowers its benchmark interest rate, mortgage interest rates usually follow suit.

    We saw this following the Reserve Bank’s May decision to cut rates. Australia’s big four banks immediately announced similar reductions in rates for new and existing borrowers.

    Lower rates reduce the cost of servicing a loan. This is a big deal for Australian home buyers, whose mortgages can be very large.

    With the average house price in Australia now hitting about $1 million, an 80% loan saddles the typical home buyer with $800,000 in debt.

    Back in March, the average interest rate on new mortgages was 6%. For the average million-dollar house, this implies a monthly repayment of around $4,796, using the standard formula for amortising loans.

    After the Reserve Bank cut the cash rate by 0.25 percentage points, this implies a new monthly repayment of $4,669 – $127 less. That’s a small, but surely welcome, relief for mortgage holders.

    Combined with the Reserve Bank’s prior rate cut in February, such borrowers are now saving more than $250 a month relative to the start of the year.

    Everyone can borrow more

    Lower rates can also improve the borrowing capacity of new home buyers.

    Before a bank issues a new mortgage, it weighs the ability of a borrower to service the loan. It does this by considering the amount of income they’ll have left over after meeting typical expenses.

    This is known as a borrower’s “net income surplus”, and the proportion of this that is used to service a loan is known as the “net surplus ratio”.

    The maximum ratio is capped at 90%, but the typical mortgage is lent against a ratio of less than 70%.

    If a household earns $100,000 per year and allocates 25% to expenses, it can afford $4,375 in monthly mortgage repayments at a 70% net surplus ratio.

    Given the previous interest rate of 6%, this maximum monthly repayment implies the household can afford to borrow $680,000. But after a 0.25 percentage point rate cut, this household can now afford a $695,000 home loan.

    And following the 0.50 percentage points of cuts we’ve seen since January, this household’s borrowing capacity is up by $30,000.

    Pulling up the ladder

    For an individual home buyer, this extra borrowing may be enough to secure that dream home. But the rate cut affects everyone at the same time, increasing the borrowing capacity of home buyers all over the country.

    All of this extra mortgage credit feeds housing demand, which is likely to pour more fuel into an already overheated market.

    Indeed, recent research indicates that a 0.25 percentage point cut in the cash rate will likely lead to a 1.5–2% increase in average house prices over the following one to two years.

    That’s an extra $20,000 on the current $1 million average home value.

    Research also suggests the impact of interest rates across local housing markets may be strongest where housing supply is tightest and houses are already more expensive.

    Mortgages get bigger

    While lower rates reduce the cost of a given mortgage, the average mortgage size needs to grow to keep up with higher prices.

    Recall that the monthly payment associated with an 80% loan on a million-dollar home at 6% interest was $4,796. If the interest rate falls by 0.25 percentage points but house prices rise by 2%, the new monthly payment is little changed, at $4,762.

    On top of this, the 20% down payment on that new home will now have increased – by $4,000.

    Rate cuts increase borrowing power, but this can put upward pressure on house prices.
    myphotobank.com.au/Shutterstock

    Is there hope for first home buyers?

    Despite the initial excitement of lower rates, aspiring home buyers may be disappointed to see the price of their dream home climb further out of reach. Some may end up no better off than they had been previously.

    Others might try to snap up a home before lower rates are completely priced in – motivated by a fear-of-missing-out (FOMO). Research suggests it can take a year or more before house prices peak following a rate change.

    And others still may decide to keep renting for the time being. Fortunately for them, recent research shows that changes in interest rates do not materially affect the rents that landlords charge their tenants.

    Finally, one option is holding savings in the stock market while they wait, perhaps diversified via exchange-traded funds, as these assets usually rise in value following an interest rate cut.

    It’s never a good idea to panic. It’s always important to think through your options before diving into the market. And remember, our discussion here is only for general information and is not intended to be financial advice. All investments carry risk.

    James Graham has received research funding from the Australian Housing and Urban Research Institute and is a member of Sydney YIMBY.

    ref. With interest rates on the way down, could house prices boom? Here’s what research suggests – https://theconversation.com/with-interest-rates-on-the-way-down-could-house-prices-boom-heres-what-research-suggests-257724

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: These 5 roadblocks are standing in the way of energy-efficient homes

    Source: The Conversation (Au and NZ) – By Jaime Comber, Senior Research Consultant in Energy Futures, University of Technology Sydney

    Westend61, GettyImages

    We all want homes that keep us warm in winter and cool in summer, without breaking the bank. However, Australian homes built before 2003 have a low average energy rating of 1.8 stars out of 10. This means they’re often uncomfortable to live in and expensive to run.

    There’s a strong case for a “renovation wave” of home energy upgrades across Australia. Reducing the use of fossil gas and improving the energy efficiency of existing housing by nearly 50% is also central to achieving net zero emissions by 2050.

    Energy-saving upgrades such as solar panels, batteries, insulation, draught-proofing and hot water heat pumps also reduce the cost of energy bills. So while there’s an upfront cost, upgrades can reduce household expenses in the long run.

    We wanted to find out what’s holding people back from getting energy-saving upgrades. We surveyed 100 Australian households and interviewed 19 people about their experiences. Our new research revealed five major barriers that stop these upgrades from being accessible to most households. Suppliers, governments and community organisations can all help overcome these barriers.

    Embarking on home energy upgrades can be an emotional rollercoaster ride.
    RACE for 2030

    1. Information about upgrades is confusing and overwhelming

    Households told us the amount of information out there about energy saving upgrades is overwhelming and sometimes conflicting. There are many different types of upgrades and product choices, making it challenging to identify which options provide the best value and what to do first. People found it difficult to know what information and which suppliers to trust.

    Households need clear information from a trusted source about what their homes need. Many governments internationally, such as Scotland, provide online resources and tools to provide tailored advice to help with this.

    Energy upgrade programs run by neutral community organisations and councils can also help, such as Rewiring Australia’s Electrify 2515 or Geelong Sustainability’s Electric Homes Program. These programs use their expertise to vet suppliers and ensure households receive good deals and high quality products.

    2. Homes need to engage multiple suppliers and tradespeople

    Many households worked on their home gradually, one upgrade at a time. Each upgrade involved a labour-intensive process of researching products, selecting companies, getting quotes and managing the disruptions caused by the installation. One Sydney homeowner told us:

    The process of needing both a plumber and an electrician to change to induction cooking was frustrating. [We had to] to coordinate availability times and appliance delivery.

    Australians need companies that can do multiple upgrades at once, to simplify and streamline the process. In Ireland, the government helped stimulate a market for organisations that can cover all the upgrades needed by a household.

    Ireland has “One Stop Shops” for home energy upgrades (Sustainable Energy Authority of Ireland)

    3. Households are losing opportunities for straightforward upgrades

    Every year, Australians invest billions in home renovations. They spent more than A$3 billion in the December 2024 quarter alone.

    One of the best times to improve your home is during major renovations or when old appliances, such as hot water systems, break down. If you’re already facing disruptions and need to spend money, it can be an easy and more cost-effective way to increase your home’s energy efficiency at the same time.

    Yet our research found advice on energy-saving upgrades was rarely provided to people undertaking major renovations or emergency replacements unless they asked for it. Households needed to seek out builders, architects and tradespeople who specialised in sustainability to get advice on an energy-saving renovation.

    Providing energy upgrades to homes should be a standard component of modern renovations. Otherwise, households are missing out on easy and more affordable opportunities to get these upgrades.

    4. Many tradespeople lack knowledge of energy-saving upgrades

    Our research found tradespeople are the most common point of contact for households. They can be a valuable source of information and advice to facilitate upgrades. However, many households reported difficulty finding tradespeople knowledgeable about – and willing to install – energy-saving upgrades.

    Some upgrades, such as solar panels, require specialised workforces. Others, such as hot water heat pumps are usually installed by regular plumbers and electricians.

    Some tradespeople lack the knowledge to advise on energy-saving upgrades or need training to install new technologies to a high standard. This situation leaves households vulnerable to misinformation, with a shortage of skilled workers to do their upgrades.

    Tradespeople require increased support and incentives to make energy-saving measures part of their skill set. This is especially true in regional areas, where there are fewer products and workers available.

    5. The costs are too high for many households

    A final, significant barrier was the cost of home upgrades, which often caused households to drop out early in the process. Australian households, particularly those with less disposable income, need more help with the upfront cost.

    One way to do this is through targeted government rebates, which are currently only available in some regions. Another is affordable and accessible financing, like that available in Tasmania and the ACT. The national Home Energy Upgrades Fund could also be extended to make sure available finance matches the scale of the challenge.

    Also needed are long-term reforms such as mandatory disclosure of energy performance when homes are sold and minimum energy standards for rental properties, which are currently only required in some jurisdictions in Australia. When these are both addressed we can make comfortable, and affordable homes the norm rather than the exception.

    Keeping warm in winter and cool in summer is the number one motivation for energy saving upgrades.
    RACE for 2030

    A worthwhile journey

    Roadblocks aside, households also shared the joy and satisfaction of completing home energy upgrades. While the journey was often difficult, those who reached the end of the road were overwhelmingly pleased with the results. A homeowner who had installed solar panels and undertaken draught-proofing and insulation in Adelaide said:

    It’s nice not to have huge electricity bills, and but I find it’s that day to day stuff of actually being comfortable that makes the biggest difference.

    This research was undertaken by Jaime Comber, Kamyar Soleimani, Ed Langham, Nimish Biloria, Leena Thomas and Kerryn Wilmot from the University of Technology, Sydney.

    Jaime Comber received funding for this research as part of the Energy Upgrades for Australian Homes (EUAH) initiative – a national collaboration between research, industry and government partners to enable scalable, community-led energy upgrades. EUAH is funded through the RACE for 2030 cooperative research centre, which includes contributions from the NSW Government, Government of South Australia and Knauf Insulation. The project is led by Climate-KIC Australia and Monash University.

    Ed Langham undertakes contract research for government, community and consumer advocates, and the clean energy industry. This research was funded as part of the RACE for 2030 Cooperative Research Centre’s Energy Upgrades for Australian Homes project, which is co-funded by Australian Government, NSW Government, Government of South Australia and Knauf Insulation. Ed is also affiliated with Schumacher Institute for Sustainable Systems, based in the UK.

    Nimish Biloria receives funding through the RACE for 2030 Cooperative Research Centre. This research was undertaken as part of the Energy Upgrades for Australian Homes initiative, which is funded in part by the NSW Government, the Government of South Australia, and Knauf Insulation. Before this, Nimish Biloria has received funding from various governmental bodies, not-for-profit organizations, and the Industry such as the Department of Industry, Innovation and Science, Australian Renewable Energy Agency (ARENA), City of Sydney, AusIndustry Smart Cities and Suburbs Program, Transport for New South Wales, Commonwealth Bank of Australia, Leigh Place Aged Care, Sydney, NSW, HMI Technologies.

    ref. These 5 roadblocks are standing in the way of energy-efficient homes – https://theconversation.com/these-5-roadblocks-are-standing-in-the-way-of-energy-efficient-homes-256906

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Australia’s plan to protect its trade in war is flawed. We can’t do it with nuclear submarines

    Source: The Conversation (Au and NZ) – By Albert Palazzo, Adjunct Professor in the School of Humanities and Social Sciences at UNSW Canberra, UNSW Sydney

    If war breaks out someday between the United States and China, one of the major concerns for Australia is the impact on its trade.

    Our trade routes are long and exposed. Every year, thousands of merchant ships — bulk carriers, tankers, container ships and other types — visit Australian ports to deliver imported goods and pick up exports for delivery at distant ports.

    When a cargo ship of petroleum leaves the Persian Gulf for refining in East Asia, then sails for Australia, the total trip is approximately 20,000 kilometres. The ship passes through lonely stretches of sea and numerous choke points, such as the Strait of Malacca in Southeast Asia, often within range of missiles and other weapons.

    Such attacks could come from Chinese ships in the event of a war, or as we’ve seen in the Middle East with the Houthi rebels, they could also come from militants seeking to disrupt global shipping.

    Australia’s current defence strategy cites the security of our “sea lines of communication and maritime trade” as a priority. The aim is to prevent an adversary from cutting off critical supplies to our continent in a war.

    To achieve this, the government has embarked on the lengthy process of expanding the Royal Australian Navy surface and sub-surface fleet, including the acquisition of nuclear-powered submarines.

    As I explain in my forthcoming book, The Big Fix: Rebuilding Australia’s National Security, the problem with the government’s maritime plan is that it is built on a deeply flawed foundation and cannot deliver what it promises.

    A flawed maritime plan

    Defence documents insist on a need for the Australian Defence Force to be able to project naval power far from Australia’s shores in order to protect the nation’s trade. The presence of these warships would ostensibly deter attacks on our vital shipping.

    However, those who developed the maritime plan do not appear to have considered whether the merchant ships delivering this trade would continue to sail to Australia in the event of a war — presumably with China.

    The reality is that Australia’s A$1.2 trillion of exports and imports are carried in ships owned by non-Australian companies, flying foreign flags and largely crewed by citizens of other countries.

    Decisions about whether to continue sailing to Australia during a conflict would be made in overseas boardrooms and capitals. The Australian government has no leverage to force the owners of these ships to continue to service our continent. Australia’s national interests may well not be the paramount concern.

    Nor does the Australian government have the option to turn to Australian-flagged vessels. Australia’s shipping list contains only a handful of domestically owned and flagged cargo ships available in case of war.

    In fact, the biggest vessel (by length) that the government could take into service is the Spirit of Tasmania IV ferry.

    If all goes according to schedule, at some point in the 2040s, Australia will have at most 26 surface warships and perhaps eight nuclear-powered submarines the navy hopes to acquire through the AUKUS deal.

    Due to training and maintenance requirements, the total number of vessels available at any one time would be more on the order of ten.

    In other words, the government’s future maritime plan — costing hundreds of billion dollars — may result in just ten available ships at any given time to protect the nation’s trade over thousands of kilometres.

    What could work instead

    Fortunately, Australia has other options for safeguarding its trade that don’t necessitate the building of warships.

    Our first investment in security should be diplomatic. The government should prioritise its investment in diplomacy across the region to promote security, including trade security.

    Regional countries are best placed to secure the waterways around Australia, particularly from the most likely future threat: Houthi-like militants.

    The Australian government should also modernise its shipping regulations and include in the budget provisions for war-risk insurance. Such insurance could compensate owners for the potential loss of ships and cargoes as an inducement for them to sail to and from Australia during war.

    The government must also encourage greater investment in our national resilience. Currently, the biggest risk during a conflict is an interruption to the nation’s liquid fuel supply. We must greatly expand our on-shore reserves of fossil fuels in the short term, while initiating a nation-building project to electrify the economy in the long term. Electrification would eliminate a considerable vulnerability to national security.




    Read more:
    Fuel shortages and bare pharmacies: we need to talk about what a possible war with China could look like


    Additionally, the government should identify and subsidise vital industries, such as fertilisers and certain medicines, which are essential to the continued functioning of our society in the event of a war. This would reduce our reliance on imports of critical materials.

    Lastly, Australian industries, with the government’s assistance, should further diversify their trading partners to reduce over-dependence on one or two main destinations.

    Trade is undoubtedly important to Australia and the government is correct to protect it. But it is also true that not all security problems are best answered by the military.

    This is particularly important since the size of our planned fleet is obviously insufficient for the enormous task it will face. Either Australia invests in impossibly large numbers of warships or it takes a different path.

    The art of war requires a balance between the desired ends and the means to achieve them. This simple statement underpins the formation of all good strategy, which a state ignores at its peril.

    Unfortunately, in the case of the nation’s maritime plan, the ends and means are seriously out of whack. Instead of setting itself up for failure, the government needs to put aside its ineffectual maritime plan and choose the means that do align with the ends. Only then will it be possible to protect Australia’s trade.

    Albert Palazzo was the long-serving director of War Studies for the Australian Army.

    ref. Australia’s plan to protect its trade in war is flawed. We can’t do it with nuclear submarines – https://theconversation.com/australias-plan-to-protect-its-trade-in-war-is-flawed-we-cant-do-it-with-nuclear-submarines-256557

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Phil Goff: Israel doesn’t care how many innocent people, children it’s killing

    COMMENTARY: By Phil Goff

    “What we are doing in Gaza now is a war of devastation: indiscriminate, limitless, cruel and criminal killing of civilians. It’s the result of government policy — knowingly, evilly, maliciously, irresponsibly dictated.”

    This statement was made not by a foreign or liberal critic of Israel but by the former Prime Minister and former senior member of Benjamin Netanyahu’s own Likud party, Ehud Olmet.

    Nightly, we witness live-streamed evidence of the truth of his statement — lethargic and gaunt children dying of malnutrition, a bereaved doctor and mother of 10 children, nine of them killed by an Israeli strike (and her husband, another doctor, died later), 15 emergency ambulance workers gunned down by the IDF as they tried to help others injured by bombs, despite their identity being clear.

    Statistics reflect the scale of the horror imposed on Palestinians who are overwhelmingly civilians — 54,000 killed, 121,000 maimed and injured. Over 17,000 of these are children.

    This can no longer be excused as regrettable collateral damage from targeted attacks on Hamas.

    Israel simply doesn’t care about the impact of its military attacks on civilians and how many innocent people and children it is killing.

    Its willingness to block all humanitarian aid- food, water, medical supplies, from Gaza demonstrates further its willingness to make mass punishment and starvation a means to achieve its ends. Both are war crimes.

    Influenced by the right wing extremists in the Coalition cabinet, like Israeli Finance Minister Bezalel Smotrich and National Security Minister Itamar Ben-Gvir, Israel’s goal is no longer self defence or justifiable retaliation against Hamas terrorists.

    Israel attacks Palestinians at US-backed aid hubs in Gaza, killing 36. Image: AJ screenshot APR

    Making life unbearable
    The Israeli government policy is focused on making life unbearable for Palestinians and seeking to remove them from their homeland. In this, they are openly encouraged by President Trump who has publicly and repeatedly endorsed deporting the Palestinian population so that the Gaza could be made into a “Middle East Riviera”.

    This is not the once progressive pioneer Israel, led by people who had faced the Nazi Holocaust and were fighting for the right to a place where they could determine their own future and be safe.

    Sadly, a country of people who were themselves long victims of oppression is now guilty of oppressing and committing genocide against others.

    New Zealand recently joined 23 other countries calling out Israel and demanding a full supply of foreign aid be allowed into Gaza.

    Foreign Minister Winston Peters called Israel’s actions “ intolerable”. He said that we had “had enough and were running out of patience and hearing excuses”.

    While speaking out might make us feel better, words are not enough. Israel’s attacks on the civilian population in Gaza are being increased, aid distribution which has restarted is grossly insufficient to stop hunger and human suffering and Palestinians are being herded into confined areas described as humanitarian zones but which are still subject to bombardment.

    People living in tents in schools and hospitals are being slaughtered.

    World must force Israel to stop
    Like Putin, Israel will not end its killing and oppression unless the world forces it to. The US has the power but will not do this.

    The sanctions Trump has imposed are not on Israel’s leaders but on judges in the International Criminal Court (ICC) who dared to find Prime Minister Benjamin Netanyahu guilty of war crimes.

    New Zealand’s foreign policy has traditionally involved working with like-minded countries, often small nations like us. Two of these, Ireland and Sweden, are seeking to impose sanctions on Israel.

    Both are members of the European Union which makes up a third of Israel’s global trade. If the EU decides to act, sanctions imposed by it would have a big impact on Israel.

    These sanctions should be both on trade and against individuals.

    New Zealand has imposed sanctions on a small number of extremist Jewish settlers on the West Bank where there is evidence of them using violence against Palestinian villagers.

    These sanctions should be extended to Israel’s political leadership and New Zealand could take a lead in doing this. We should not be influenced by concern that by taking a stand we might offend US president Donald Trump.

    Show our preparedness to uphold values
    In the way that we have been proud of in the past, we should as a small but fiercely independent country show our preparedness to uphold our own values and act against gross abuse of human rights and flagrant disregard for international law.

    We should be working with others through the United Nations General Assembly to maximise political pressure on Israel to stop the ongoing killing of innocent civilians.

    Moral outrage at what Israel is doing has to be backed by taking action with others to force the Israeli government to end the killing, destruction, mass punishment and deliberate starvation of Palestinians including their children.

    An American doctor working at a Gaza hospital reported that in the last five weeks he had worked on dozens of badly injured children but not a single combatant.

    He noted that as well as being maimed and disfigured by bombing, many of the children were also suffering from malnutrition. Children were dying from wounds that they could recover from but there were not the supplies needed to treat them.

    Protest is not enough. We need to act.

    Phil Goff is Aotearoa New Zealand’s former Minister of Foreign Affairs. This article was first published by the Stuff website and is republished with the permission of the author.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Russia: China and Mongolia Start Mutual Recognition of AEOs

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    HOHHOT, June 1 (Xinhua) — China and Mongolia on Sunday formally launched mutual recognition of authorized economic operators (AEOs), according to the Hohhot Customs Office in north China’s Inner Mongolia Autonomous Region.

    An Authorized Economic Operator is an enterprise recognized by customs authorities as law-abiding and trustworthy. Having received the AEO status, an enterprise can enjoy conveniences in customs clearance.

    Once mutual recognition of AEO status is achieved between China and Mongolia, the paperwork will be simplified, the number of inspections of goods will be reduced, and priority customs clearance will be possible. This step is expected to not only significantly reduce the cost of cross-border trade between enterprises in the two countries, but also ensure the safety and smoothness of supply chains.

    According to statistics, from January to April 2025, 326 Chinese enterprises that had obtained the status of authorized economic operator were engaged in export activities with Mongolia, with the export value amounting to nearly 1.6 billion yuan (about 222.69 million US dollars), or about 15.5 percent of China’s total exports to Mongolia.

    According to available information, as of the end of April this year, there were 6,479 enterprises in China that had received AEO status, whose trade volume accounted for 38.5 percent of the country’s total import and export volume recorded during the same period.

    Meanwhile, China has signed mutual recognition agreements for AEO status with 31 economies covering 57 countries and regions around the world, including 38 countries participating in the Belt and Road Initiative. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: First China-Central Asia International Tourist Train Crosses Khorgos Border Crossing

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    URUMQI, June 1 (Xinhua) — The first China-Central Asia international tourist train on the Xi’an-Almaty route with more than 200 passengers left China via the Khorgos railway checkpoint in northwest China’s Xinjiang Uygur Autonomous Region on Saturday and headed to Almaty in Kazakhstan.

    The tourist train departed from Xi’an, Shaanxi Province, Northwest China, on May 29. According to the schedule, it will leave Almaty on June 5 and return to Xi’an on June 7.

    The Khorgos railway checkpoint administration worked closely with local customs, border inspection and other agencies to ensure that passengers could exchange tickets smoothly, undergo inspection at the checkpoint and leave the country efficiently.

    Let us recall that 2024 was the Year of Kazakhstan Tourism in China, and 2025 has been declared the Year of China Tourism in Kazakhstan.

    According to Li Jiang, deputy head of Horgos Customs, the launch of the above-mentioned international tourist train has laid a new foundation for deepening connectivity and promoting people-to-people exchanges between China and Central Asian countries.

    According to available information, Almaty will host the Week of Humanitarian and Tourist Exchanges between the cities of Xi’an and Almaty, which will include a number of exhibitions, meetings, lectures and friendly football matches.

    The activities will include a display of intangible cultural heritage, an exhibition of cultural relics, promotion of traditional Chinese medicine culture, academic exchanges in archaeology, and a meeting of female entrepreneurs from the two countries.

    In May 2023, China and Kazakhstan signed an intergovernmental agreement on mutual exemption from visa requirements, which officially came into force in November of the same year.

    Kazakhstan is becoming a popular destination among Chinese tourists. According to statistics, by the end of 2024, the Chinese tourist flow to this Central Asian country amounted to 655 thousand people-times, which is 78 percent more than the previous year. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: The first international tourist train China-Central Asia crossed the Khorgos border crossing

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    URUMQI, June 1 (Xinhua) — The first China-Central Asia international tourist train on the Xi’an-Almaty route with more than 200 passengers left China via the Khorgos railway checkpoint in northwest China’s Xinjiang Uygur Autonomous Region on Saturday and headed to Almaty in Kazakhstan.

    The tourist train departed from Xi’an, Shaanxi Province, Northwest China, on May 29. According to the schedule, it will leave Almaty on June 5 and return to Xi’an on June 7.

    The Khorgos railway checkpoint administration worked closely with local customs, border inspection and other agencies to ensure that passengers could exchange tickets smoothly, undergo inspection at the checkpoint and leave the country efficiently.

    Let us recall that 2024 was the Year of Kazakhstan Tourism in China, and 2025 has been declared the Year of China Tourism in Kazakhstan.

    According to Li Jiang, deputy head of Horgos Customs, the launch of the above-mentioned international tourist train has laid a new foundation for deepening connectivity and promoting people-to-people exchanges between China and Central Asian countries.

    According to available information, Almaty will host the Week of Humanitarian and Tourist Exchanges between the cities of Xi’an and Almaty, which will include a number of exhibitions, meetings, lectures and friendly football matches.

    The activities will include a display of intangible cultural heritage, an exhibition of cultural relics, promotion of traditional Chinese medicine culture, academic exchanges in archaeology, and a meeting of female entrepreneurs from the two countries.

    In May 2023, China and Kazakhstan signed an intergovernmental agreement on mutual exemption from visa requirements, which officially came into force in November of the same year.

    Kazakhstan is becoming a popular destination among Chinese tourists. According to statistics, by the end of 2024, the Chinese tourist flow to this Central Asian country amounted to 655 thousand people-times, which is 78 percent more than the previous year. -0-

    MIL OSI Russia News

  • MIL-OSI China: Cargo throughput at China’s ports logs solid growth in January-April

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

    Cargo throughput at ports in China rose steadily during the first four months of 2025, signaling continued resilience in the world’s second-largest economy despite external uncertainties.

    The country’s cargo throughput at ports totaled 5.75 billion tonnes during the January-April period, up 3.7 percent year on year, data from the Ministry of Transport showed.

    Container throughput, a leading gauge of trade health, increased 7.9 percent year on year during this period to reach 110 million twenty-foot equivalent units (TEUs), according to the ministry.

    In April alone, the country’s cargo throughput at ports climbed 4.8 percent from a year earlier to 1.53 billion tonnes — with the pace of growth slightly down from an increase of 4.9 percent registered in March.

    Separate data from the National Bureau of Statistics on Saturday revealed that China’s purchasing managers’ index (PMI) for the manufacturing sector had edged up to 49.5 in May from 49 in April, with the sub-index for new orders rising to 49.8 from 49.2 — as production accelerated and market expectations strengthened.

    MIL OSI China News

  • MIL-OSI Russia: /Economic Review/ China’s manufacturing activity continues to improve as market expectations strengthen

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, May 31 (Xinhua) — Business activity in China’s manufacturing sector continued to show signs of improvement in May, amid faster production and stronger market expectations, official data showed Saturday.

    In May 2025, China’s manufacturing purchasing managers’ index (PMI) was 49.5, up 0.5 percentage points from the previous month, according to data released by the National Bureau of Statistics (NBS) on Saturday. A PMI above 50 indicates expansion in the manufacturing sector, while one below 50 indicates contraction.

    NBS statistician Zhao Qinghe said the improvement reflects faster production and more positive business expectations.

    The production sub-index rose to 50.7, up 0.9 from the previous month, indicating a stronger pace of industrial production, the data showed. The new orders index also rose 0.6 to 49.8.

    It is noteworthy that the business activity index at large enterprises returned to the growth range and amounted to 50.7, which is 1.5 higher than the April figure and indicates an improvement in the business environment at large enterprises.

    High-tech manufacturing continued to expand for the fourth month in a row, reaching 50.9, while the equipment manufacturing and consumer goods sub-indices rose to 51.2 and 50.2, respectively.

    Market expectations also improved during the reporting period. The index of expectations for production and business activity rose to 52.5, up 0.4 from the previous month, indicating that industry enterprises generally remain confident about the market development in the near term, Zhao Qinghe said.

    The continued recovery in the manufacturing PMI suggests that the combined effect of more positive macroeconomic policy measures is beginning to emerge, as well as improved business expectations and signs of recovery in manufacturing activity, analysts said.

    Data released on Saturday also showed that China’s non-manufacturing PMI stood at 50.3 in May, down 0.1 percentage point from the previous month but still broadly on track for growth.

    The service sector maintained a steady momentum, helped by tourism and catering during the May Day holidays, Zhao Qinghe said.

    According to Wen Tao, an analyst with the China Logistics Information Center, efforts will need to be made in the future to stimulate domestic demand and promote high-level external opening-up to expand new growth in external demand, thereby strengthening the country’s economic resilience and enhancing its ability to withstand risks. -0-

    MIL OSI Russia News

  • MIL-OSI Global: US labels QRIS a trade barrier – what’s next for Indonesia’s digital payment system?

    Source: The Conversation – Indonesia – By Farhan Mutaqin, PhD Researcher, University of Edinburgh

    The United States has recently called out Indonesia’s national digital payment system QRIS (Quick Response Code Indonesian Standard) for being unfair. The Office of the US Trade Representative (USTR) assessed QRIS as a trade barrier in its the National Trade Estimate Report 2025. The report – which includes broader trade concerns – underpins the Trump administration’s plan to impose 32% tariff duty for Indonesian products as of July 2025.

    QRIS synchronises Indonesia’s electronic money payments, digital wallets, and mobile banking into one national standard system. By scanning a QR code, payment takes only a matter of seconds, allowing a swift cashless transaction compared to using cards.

    USTR report criticises how QRIS implementation limits access for international stakeholders — particularly US companies — and creates an imbalance in Indonesia’s digital payments market.

    The report also cites Indonesia’s National Payment Gateway (GPN) as less transparent and limits foreign ownership. The card, which is for domestic use only, eases administrative financial burdens, encourages cashless payment and facilitate social disbursement of social assistance.

    Putting the trade assessment aside, QRIS helps small businesses and low-income groups in Indonesia to access modern payment facilities, closing the gap that Visa and Mastercard cannot provide. Throughout 2024, more than 30 million small businesses and merchants across Indonesia have made transactions via QRIS.

    Here are what readers need to know about QRIS and what may come for Indonesia after its labelling as a trade barrier.

    How significant is QRIS?

    QRIS transaction value and popularity have skyrocketed since the central bank, Bank Indonesia, introduced it to the market in August 2019, months away before COVID-19 entered Indonesia. Throughout 2024 QRIS has recorded 2.2 billion transactions with a total value of Rp 242 trillion (around US$14.9 billion). This figure increased by 188% compared to the previous year.

    In the first quarter of 2025, Bank Indonesia’s latest report noted that QRIS transactions surged to 2.6 billion with a transaction value reaching Rp 262 trillion (US$16 billion).

    So, why does QRIS have such a huge reputation?

    Massive digital adoption and user convenience factors triggered its growth, contributing to financial inclusion and supporting the growth and productivity of the Indonesian economy.

    According to 2024 survey, the main reasons Indonesians use QRIS are its simplicity (49%) and transaction speed (42%). Promotion factors (33%) and the habit of not carrying cash (28%) also add to its appeal.

    Wide outlet coverage (23%) and perceived security (22%) are also factors causing QRIS to be increasingly in demand. This practicality and growing digital habits in Indonesia are the main drivers of QRIS adoption.

    From the merchant’s perspective, QRIS has advantages over card payments. The card system requires expensive EDC machines that cost Rp 3–5 million (US$180-310) per device.

    Meanwhile, the merchant can receive payments via QRIS with just a single printed QR code, without needing extra equipment. QRIS transaction fees are also much lower at around 0.3% of transactions (even 0% for micro merchants), compared to 2–3% on cards.

    QRIS is also compatible with all Indonesian and most of ASEAN countries e-wallets.

    According to the Indonesian Payment System Association QRIS has become “the king of digital payment” channels for local transactions. Meanwhile, Visa–Mastercard’s position remains dominant for cross-border payments.

    Risk of QRIS blocking

    The USTR claims developed without input from international stakeholders may serve as an empty accusation.

    Bank Indonesia designed QRIS to meet domestic needs while aligning with international standards like EMVCo standards carried by Europay, Mastercard, and Visa (EMV). The three global payment giants are also members of Indonesian Payment System Association and were involved in QRIS drafting process, accompanying the government and the central bank. Given how strictly regulated digital payment systems are, it’s hard to believe the US lacks information about QRIS.

    However, the label of “trade barriers” has already been attached by the US and could ruin Indonesia’s negotiation process with other countries.

    First, this issue could potentially hamper QRIS adoption in other countries. While Singapore, Malaysia, and Thailand have already facilitated QRIS into their national payment systems, further expansion into India and South Korea could be hampered by concerns about creating friction with Washington.

    Second, the classification of QRIS as a trade barrier could also hinder the expansion of Indonesian small businesses into overseas markets. In fact, this standard was designed so that micro and small business actors can speed up the transaction process, including cross-border transactions with foreign buyers.

    Advantage or disadvantage?

    Both. It brings opportunities and challenges. The impact of USTR claim for Indonesia will depend largely on its negotiating strategy in the coming terms.

    For now, the 32%-tariff sanction – affecting products from shoes, textiles, to nickel components – has been suspended until early July 2025. The two countries are continuing negotiations, including technical discussions on QRIS access since the US complaint aired.

    But Indonesia can turn the US protest into an opportunity. The threat of tariffs forced the two countries into a two-month negotiation window.

    Indonesia could trade off small adjustments to QRIS rules for larger rewards —such as lower tariffs on nickel products or new investment commitments from the US, especially in the fields of technology or the latest financial systems.

    At least, Bank Indonesia has stated that “If America is ready, we are ready,” – a nod for possibility to prepare clearer guidelines for both countries. Arranging such documents will benefit all parties, including foreign and local business.

    At last, Indonesia needs to share the success story of QRIS more widely. Currently, QRIS has served 56 million users, supports payments at more than 33 million outlets, and is seamlessly connected to several countries such as Malaysia, Singapore, and Thailand. This shows that the payment system is open, beneficial, and contributes to financial integration across countries and regions.

    QRIS’s rapid growth, along with how the US feels threatened by it, shows huge potential for Indonesia’s digital finance. This can actually contribute to its bargaining position in the international arena in this digital era.


    This article was originally published in Indonesian, translated into English with the help of machine translator and further edited by human editors.

    Para penulis tidak bekerja, menjadi konsultan, memiliki saham atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi di luar afiliasi akademis yang telah disebut di atas.

    ref. US labels QRIS a trade barrier – what’s next for Indonesia’s digital payment system? – https://theconversation.com/us-labels-qris-a-trade-barrier-whats-next-for-indonesias-digital-payment-system-257616

    MIL OSI – Global Reports

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for May 31, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on May 31, 2025.

    Detroit’s population grew in 2023, 2024 − a strategy to welcome immigrants helps explain the turnaround from decades of population decline
    Source: The Conversation (Au and NZ) – By Paul N. McDaniel, Associate Professor of Geography, Kennesaw State University The Mexican-American community in southwest Detroit held a rally in March 2025, asking ICE to leave the immigrant community alone. Jim West/UCG/Universal Images Group via Getty Images Detroit’s population grew in 2024 for the second year in

    Hurricane season is here, but FEMA’s policy change could leave low-income areas less protected
    Source: The Conversation (Au and NZ) – By Ivis García, Associate Professor of Landscape Architecture and Urban Planning, Texas A&M University Hurricane Harvey inundated the Cottage Grove neighborhood of Houston in 2018. Scott Olson/Getty Images When powerful storms hit your city, which neighborhoods are most likely to flood? In many cities, they’re typically low-income areas.

    Shock NSW Senate result as One Nation beats Labor to win final seat
    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne The button was pressed to electronically distribute preferences for the New South Wales Senate today. All analysts expected Labor to win the final seat, for a three

    GPs will be a great help for managing ADHD medications. But many patients will still need specialists
    Source: The Conversation (Au and NZ) – By Adam Guastella, Professor and Clinical Psychologist, Michael Crouch Chair in Child and Youth Mental Health, University of Sydney The New South Wales government this week announced reforms that will allow some GPs to treat and potentially diagnose attention-deficit hyperactivity disorder (ADHD). This aims to make ADHD care

    Will elections for judges make Mexico the ‘most democratic country in the world’? Critics fear the opposite
    Source: The Conversation (Au and NZ) – By Luis Gómez Romero, Senior Lecturer in Human Rights, Constitutional Law and Legal Theory, University of Wollongong On Sunday, Mexico will hold an unprecedented election, becoming the first country in the world to allow voters to elect judges at every level. Voters will elect approximately half the judges

    What is mantle cell lymphoma? Magda Szubanski’s ‘rare and fast-moving’ cancer, explained
    Source: The Conversation (Au and NZ) – By John (Eddie) La Marca, Senior Research Officer, Blood Cells and Blood Cancer, WEHI (Walter and Eliza Hall Institute of Medical Research) Lisa Maree Williams/Getty Beloved Australian actor, Magda Szubanski, has revealed she’s been diagnosed with a “very rare, very aggressive, very serious” blood cancer called mantle cell

    Keith Rankin Analysis – Who, neither politician nor monarch, executed 100,000 civilians in a single night?
    Analysis by Keith Rankin. Who, neither politician nor monarch, executed 100,000 civilians in a single night? Answer: Curtis LeMay, American Air Force General, in the wee hours of 10 March 1945. While authorised by his immediate superior, this firebombing of Tokyo was a decentralised military operation which received subsequent popular approval. It was called ‘Operation

    ER Report: A Roundup of Significant Articles on EveningReport.nz for May 30, 2025
    ER Report: Here is a summary of significant articles published on EveningReport.nz on May 30, 2025.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI New Zealand: Home consents down in the month of April 2025 – Stats NZ media and information release: Building consents issued: April 2025

    Home consents down in the month of April 2025 – media release

    30 May 2025

    There were 2,418 new homes consented in April 2025, down 17 percent compared with April 2024, according to figures released by Stats NZ today.

    “The drop in number of new homes consented in April 2025 may have been impacted by the timing of Easter weekend and Anzac Day, with people potentially taking time off in between,” economic indicators spokesperson Michelle Feyen said.

    Of the 2,418 new homes consented, there were:

    • 1,148 stand-alone houses consented (down 15 percent compared with April 2024)
    • 1,270 multi-unit homes consented (down 19 percent).

    Visit our website to read this news story and information release and to download CSV files:

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Stats NZ information release: Greenhouse gas emissions (industry and household): Year ended 2023

    Greenhouse gas emissions (industry and household): Year ended 2023 – information release

    30 May 2025

    Greenhouse gas emissions statistics include the emissions by gas type for both industries and households, the emissions intensity (emissions in relation to GDP/economic output) for industries, and tourism-related emissions.

    Industry and household emissions estimates use the latest New Zealand Greenhouse Gas Inventory data from the Ministry for the Environment and show updated production-based gross emissions for the years ended December 2007 through to 2023, on a System of Environmental-Economic Accounts (SEEA) basis.

    Key facts

    Year ended December 2023

    • Gross greenhouse gas emissions from New Zealand’s industries and households were 78,778 kilotonnes (kt) of carbon dioxide equivalent. This is a fall of 0.8 percent (612 kt) from 2022.
    • The fall was driven by a 1.0 percent decrease (720 kt) in industry-related emissions.
    • Household emissions increased 1.3 percent (107 kt) due to an increase in household transport emissions.

    Visit our website to read this information release and to download CSV files:

    MIL OSI New Zealand News

  • MIL-OSI USA: DBEDT NEWS RELEASE: Visitor Industry Grows Again in April 2025

    Source: US State of Hawaii

    DBEDT NEWS RELEASE: Visitor Industry Grows Again in April 2025

    Posted on May 29, 2025 in Latest Department News, Newsroom

     

     

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    JOSH GREEN, M.D.
    GOVERNOR

    KE KIAʻĀINA

    DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

    KA ʻOIHANA HOʻOMOHALA PĀʻOIHANA, ʻIMI WAIWAI A HOʻOMĀKAʻIKAʻI

     

    RESEARCH AND ECONOMIC ANALYSIS DIVISION

     

    JAMES KUNANE TOKIOKA

    DIRECTOR

    KA LUNA HOʻOKELE

     

    1. EUGENE TIAN

    CHIEF STATE ECONOMIST

     

     

    VISITOR INDUSTRY GROWS AGAIN IN APRIL 2025

     

    FOR IMMEDIATE RELEASE

    May 29, 2025

     

    HONOLULU – According to preliminary statistics from the Department of Business, Economic Development and Tourism (DBEDT), total visitor arrivals and total visitor spending in April 2025 increased compared to the same month last year. There were 833,219 visitors to the Hawaiian Islands in April 2025, up 7.9 percent from April 2024. Total visitor spending measured in nominal dollars was $1.69 billion, which was growth of 9.4 percent from April 2024. When compared to pre-pandemic 2019 levels, April 2025 total visitor arrivals represent a 98.1 percent recovery from April 2019 and total visitor spending was higher than April 2019 ($1.32 billion, +28.3%).

    In April 2025, 810,276 visitors arrived by air service, mainly from the U.S. West and U.S. East. Additionally, 22,943 visitors came via out-of-state cruise ships. In comparison, 740,720 visitors (+9.4%) arrived by air and 31,695 visitors (-27.6%) came by cruise ships in April 2024, and 824,610 visitors (-1.7%) arrived by air and 24,787 visitors (-7.4%) came by cruise ships in April 2019. The average length of stay by all visitors in April 2025 was 8.36 days, compared to 8.28 days (+1.1%) in April 2024 and 8.25 days (+1.4%) in April 2019. The statewide average daily census was 232,323 visitors in April 2025, compared to 213,080 visitors (+9.0%) in April 2024 and 233,616 visitors (-0.6%) in April 2019.

    In April 2025, 457,248 visitors arrived from the U.S. West, which was an increase compared to April 2024 (400,070 visitors, +14.3%) and April 2019 (388,573 visitors, +17.7%). U.S. West visitor spending of $855.0 million rose from April 2024 ($765.2 million, +11.7%), and was much higher than April 2019 ($547.0 million, +56.3%). Daily spending by U.S. West visitors in April 2025 ($234 per person) decreased slightly from April 2024 ($236 per person, -0.8%) but was up considerably from April 2019 ($171 per person, +36.7%).

    In April 2025, arrivals from the U.S. East of 180,383 visitors increased from April 2024 (176,339 visitors, +2.3%) and April 2019 (159,115 visitors, +13.4%). U.S. East visitor spending of $449.1 million rose from April 2024 ($436.8 million, +2.8%) and was significantly more than April 2019 ($286.8 million, +56.6%). Daily spending by U.S. East visitors in April 2025 ($277 per person) increased from April 2024 ($273 per person, +1.4%) and was much more than April 2019 ($200 per person, +38.4%).

    There were 52,358 visitors from Japan in April 2025, an increase from April 2024 (50,626 visitors, +3.4%) but continued to be much lower than April 2019 (119,487 visitors, -56.2%). Visitors from Japan spent $77.4 million in April 2025, compared to $75.1 million (+3.0%) in April 2024 and $164.0 million (-52.8%) in April 2019. Daily spending by Japanese visitors in April 2025 ($245 per person) was higher than April 2024 ($238 per person, +3.2%) and April 2019 ($234 per person, +5.0%).

    In April 2025, 36,381 visitors arrived from Canada, down from April 2024 (38,936 visitors, -6.6%) and April 2019 (56,749 visitors, -35.9%). Visitors from Canada spent $91.0 million in April 2025 compared to $88.3 million (+3.0%) in April 2024 and $100.2 million (-9.2%) in April 2019. Daily spending by Canadian visitors in April 2025 ($224 per person) increased from April 2024 ($221 per person, +1.6%) and was much higher than April 2019 ($154 per person, +45.8%).

    There were 83,905 visitors from all other international markets in April 2025, which included visitors from Oceania, Other Asia, Europe, Latin America, Guam, the Philippines, and the Pacific Islands. In comparison, there were 74,749 visitors (+12.2%) from all other international markets in April 2024 and 100,686 visitors (-16.7%) in April 2019.

    In April 2025, a total of 4,885 transpacific flights with 1,085,113 seats serviced the Hawaiian Islands. Total air capacity was similar to April 2024 (4,890 flights, -0.1% with 1,080,344 seats +0.4%) but less than April 2019 (5,031 flights, -2.9% with 1,112,200 seats, -2.4%).

    Year-to-Date 2025

     

    A total of 3,288,966 visitors arrived in the first four months of 2025, up 3.2 percent from 3,186,223 visitors in the first four months of 2024. Total arrivals decreased 2.6 percent when compared to 3,376,675 visitors in the first four months of 2019.

    In the first four months of 2025, total visitor spending was $7.30 billion, an increase compared to the first four months of 2024 ($6.82 billion, +7.2%) and the first four months of 2019 ($5.81 billion, +25.7%).

    VIEW FULL NEWS RELEASE AND TABLES

     

    Statement by DBEDT Director James Kunane Tokioka

     

    April was a solid month for the visitor industry. The industry has performed well during the first four months of 2025, mainly driven by continued growth in the U.S. markets (U.S. West and U.S. East). U.S. arrivals grew by 5.5 percent, offsetting the decline in arrivals from international markets.

     

    We expect a modest slowdown in tourism during the summer season caused by uncertainties in the political and economic environment both nationally and internationally. We believe the situation will be temporary and anticipate the state’s tourism industry to rebound in 2026.

    # # #

     

     

    Media Contacts:

     

    Laci Goshi 

    Communications Officer

    Department of Business, Economic Development and Tourism

    Cell: 808-518-5480

    Email: [email protected]

     

    Jennifer Chun

    Director of Tourism Research

    Department of Business, Economic Development and Tourism

    Phone: 808-973-9446

    Email: [email protected]

    MIL OSI USA News

  • MIL-OSI Canada: New research shows more anti-racism work needed

    Source: Government of Canada regional news

    Key findings from three research priorities identified by B.C.’s Anti-Racism Data Committee reveal the need for greater equity and diversity within the BC Public Service, some progress has been made in representation to appointments on B.C.’s agencies, boards and commissions, and pay differences between racialized and white workers in B.C.’s private and public sectors.

    “To address systemic racism in provincial government policies, programs and services, it’s crucial that we focus on research areas that matter most to Indigenous Peoples and racialized communities,” said George Chow, Minister of Citizens’ Services. “I would like to thank Indigenous partners and the Anti-Racism Data Committee (ARDC) for their tireless work to help the Province identify and understand where people are experiencing barriers accessing services — in partnership with them, we can meaningfully tackle issues of systemic racism with active solutions.”

    The Anti-Racism Data Act came into effect in 2022 and requires the Province to publish statistics and other information regarding systemic racism and racial equity by June 1 each year. The act also requires the Province to identify research priorities every two years. Research priorities were set in 2023 and updated priorities were released on Friday, May 30, 2025.

    “In these challenging times where other governments are removing diversity initiatives, British Columbia remains committed to doing what’s right and working to level the playing field for racialized and Indigenous people,” said Jessie Sunner, parliamentary secretary for anti-racism initiatives. “The findings of this research are essential to that work and will influence the development of the Anti-Racism Action Plan that is currently underway. We will continue to lift people up so they can build better lives for themselves, their families and their communities.”

    This is the third release under the act. This year’s key findings include:

    Racial diversity and equity in the BC Public Service

    • Indigenous and racialized employees continue to be under-represented in the BC Public Service in leadership roles and overall.
    • Many racialized groups are also over-represented in lower-level and non-permanent positions.

    Representation on provincial boards

    • Government has made progress in the representation of racialized people on provincially nominated boards and Crown agencies.
    • First Nations and Métis people are represented among appointees at a similar level to their share in the B.C. population.
    • However, some Indigenous and racialized communities, along with other equity-deserving groups, continue to face barriers to civic participation, and those living in rural and remote areas may still be under-represented.

    Economic inclusion

    • In nine of 26 occupation groups, racialized workers in B.C. earned significantly less on average than white workers, even after accounting for differences in age, gender, education and being born in Canada.
    • In six occupations, racialized people with the same education level as white workers did not see higher levels of education linked to higher earnings. These findings challenge a common assumption that more education will always translate into more pay.
    • It’s important to note that not all occupations have similar earnings gaps and to look at each occupation individually.

    Government is addressing these challenges by:

    • conducting research with Indigenous and racialized employees within BC Public Service to understand their lived experience and inform actions to remove barriers to hiring and career growth;
    • continued focus on anti-racism learning and supporting career development, and increased representation within the public service;
    • adjusting recruitment strategies to enhance representation on B.C.’s agencies, boards and commissions; and
    • broadening economic-inclusion research to include feedback from Indigenous and racialized communities.

    The Province worked in collaboration with the Anti-Racism Data Committee and in consultation with Indigenous Peoples to set research priorities for 2025-27. Priorities are meant to help steer the Province toward research that identifies systemic barriers and requires action to advance racial equity. Priorities also help focus research on the areas that matter most to Indigenous Peoples and racialized communities. 

    Themes of the 2025-27 priorities include: health and wellness, education, housing, racial equity within the BC Public Service, justice system and community safety, sports and economic inclusion.

    Quotes:

    June Francis, chair, Anti-Racism Data Committee —

    “We cannot fix what we do not understand. Dismantling systemic racism requires us to truly understand the barriers that Indigenous, Black and racialized people face. By working with communities to understand their experiences and to put research behind it allows us to advocate and amplify our voices – data and research supports community empowerment. With the release of updated research priorities, we are steering the B.C. government to take a deeper dive into health, education and justice, yet we also expect these will trigger an all-of-government approach, as we know inequities remain in many other areas. We trust these data and the research priorities will catalyze the B.C. government to take urgent and intentional actions to address the inequities that are being made transparent, and to focus more research in priority areas to deliver real and lasting change for the many people in British Columbia who face racism and discrimination each and every day. This new release of research findings increases the Province’s understanding of what Indigenous and racialized people have been saying for many years – government programs are not serving people equitably.”

    Michael Suedfeld, lands manager, Skawahlook First Nation

    “It’s encouraging to see the Province finally taking steps to look at long-standing issues, such as public-sector employment and civic participation. Over the coming years, we hope to see government continue to tackle topics that are front of mind for members of the Skawahlook Nation, including health and mental-health outcomes, housing, the justice system and Declaration Act Action Plan commitments. We look forward to being part of this conversation.”

    Susie Hooper, Minister of Citizenship, Métis Nation British Columbia

    “Research from the 2023-2025 priorities highlighted barriers for Métis people in health care and advancing careers in the BC Public Service. These updated priorities provide an opportunity to broaden the research focus to consider key concerns for our government, including improving health and well-being, especially for those in care, and reducing barriers experienced by Métis students. We look forward to continued participation in these dialogues to shape future research in partnership with the provincial Ministry of Citizens’ Services.”

    Learn More:

    To learn more about the Anti-Racism Data Act, view the research findings and actions to date, visit: https://antiracism.gov.bc.ca/

    To learn more about the Declaration Act Action Plan, visit: https://declaration.gov.bc.ca/declaration-act-action-plan/

    Three backgrounders follow.

    MIL OSI Canada News

  • MIL-OSI USA: Reps. Titus and Stanton Introduce Legislation Improving Emergency Response to Extreme Heat

    Source: United States House of Representatives – Congresswoman Dina Titus (1st District of Nevada)

    WASHINGTON – Congresswoman Dina Titus (NV-01), a senior member of the House Transportation & Infrastructure Committee, and Congressman Greg Stanton (AZ-04) introduced the Extreme Weather and Heat Response Modernization Act. This legislation would empower the Federal Emergency Management Agency (FEMA) to better define and address extreme heat and to provide communities with more resources, including cooling centers, to keep people safe during extreme temperature events.

    “Last year, Clark County suffered from the deadliest extreme heat season on record with 526 heat-related deaths,” said Rep. Titus. “While steps have been taken in recent years to combat the rise of heat-related illnesses, more needs to be done to improve emergency responses to this deadly threat. My bill will provide FEMA with the flexibility to expand its suite of mitigation measures against extreme heat, including cooling centers. It also requires FEMA to provide guidance to help communities better plan for extreme temperature events.”

    “If Phoenix was being hit with a hurricane, or pummeled by tornadoes or extreme flooding, FEMA would be able to provide federal assistance. But despite extreme heat killing more people each year than hurricanes and tornadoes combined, states can’t request the same kind of federal assistance for heat emergencies. Extreme heat is a long-term natural disaster, and we need the federal government to start treating it as such,” said Rep. Stanton. “Our legislation gives FEMA the tools to address extreme heat—in coordination with state, local and Tribal governments—and keep Arizonans safe.”

    Background

    Extreme heat causes more deaths than tornados and hurricanes combined. Statistics show that the summer of 2024 was the deadliest for extreme heat, especially in Southern Nevada, where Las Vegas recorded its deadliest extreme heat season. According to weather indicators, the number of extreme heat events per year has increased in frequency and intensity, showing no signs of letting up.

    Over the 4th of July weekend in 2024, nearly 130 million people were under some sort of extreme heat threat, and temperatures in Southern Nevada reached a local record of 120 degrees. As heat-related illnesses and hospitalizations continue to increase, communities need more resources to protect individuals, including the ability to set up cooling centers to help vulnerable people maintain a safe body temperature.

    The legislation is supported by the City of Las Vegas; National Association of Counties (NACo); Desert Research Institute; IBEW Local 357; United Steelworkers; BuildStrong America; and the NRDC.

    A Section by Section of the bill can be found here.

    MIL OSI USA News

  • MIL-OSI Canada: B.C. releases second annual Pay Transparency Report

    Source: Government of Canada regional news

    Government has released its second annual Pay Transparency Report, showing modest improvements to the gender pay gap in the province.

    The biggest improvements in the gender pay gap since 2023 were noted in three sectors, analyzed using Statistics Canada data categorized by the North American Industry Classification System. In agriculture, forestry, fishing and hunting, there was an improvement from a gap of 45% down to 36%. The gap shrank from 24% to 17% in mining, quarrying and oil-and-gas extraction. Wholesale trade saw a positive shift from 18% down to 11%.

    In addition, the gender pay gap shrank for young women with post-secondary trade certificates and diplomas from 21% in 2017 to 8% in 2024.

    These improvements support B.C.’s overall goal to reduce the gender pay gap of 15%. Future long-term positive trends are anticipated based on initial progress.

    The Pay Transparency Act was passed into law in May 2023, requiring all employers in B.C. to include salary and wage information on all publicly posted jobs. The annual report shows that in 2024, 85% of job postings in B.C. included pay information, compared to 52% in other parts of Canada, according to Indeed, a job-search platform.

    By Nov. 1, 2025, all employers with 300 or more employees in B.C. are required to prepare and post reports about their gender pay gaps.

    The requirement has been introduced in stages to give employers time to prepare.

    • Nov. 1, 2024: all employers with 1,000 employees in B.C. or more
    • Nov. 1, 2025: all employers with 300 employees in B.C. or more
    • Nov. 1, 2026: all employers with 50 employees in B.C. or more

    An online reporting tool is available to support employers with an efficient way to prepare pay-transparency reports.

    Learn More:

    For more information about the pay-transparency tool, visit: https://paytransparency.fin.gov.bc.ca/login

    For more information about the 2025 Pay Transparency Report, visit: https://www2.gov.bc.ca/assets/gov/british-columbians-our-governments/services-policies-for-government/gender-equity/pay-transparency-annual-report-2025.pdf

    For more information about pay transparency in B.C., visit: https://www2.gov.bc.ca/gov/content/gender-equity/pay-transparency-in-bc

    MIL OSI Canada News

  • MIL-OSI Global: Neurosymbolic AI is the answer to large language models’ inability to stop hallucinating

    Source: The Conversation – UK – By Artur Garcez, Professor of Computer Science, City St George’s, University of London

    Down with endless data. Alexander Supertramp

    The main problem with big tech’s experiment with artificial intelligence (AI) is not that it could take over humanity. It’s that large language models (LLMs) like Open AI’s ChatGPT, Google’s Gemini and Meta’s Llama continue to get things wrong, and the problem is intractable.

    Known as hallucinations, the most prominent example was perhaps the case of US law professor Jonathan Turley, who was falsely accused of sexual harassment by ChatGPT in 2023.

    OpenAI’s solution seems to have been to basically “disappear” Turley by programming ChatGPT to say it can’t respond to questions about him, which is clearly not a fair or satisfactory solution. Trying to solve hallucinations after the event and case by case is clearly not the way to go.

    The same can be said of LLMs amplifying stereotypes or giving western-centric answers. There’s also a total lack of accountability in the face of this widespread misinformation, since it’s difficult to ascertain how the LLM reached this conclusion in the first place.

    We saw a fierce debate about these problems after the 2023 release of GPT-4, the most recent major paradigm in OpenAI’s LLM development. Arguably the debate has cooled since then, though without justification.

    The EU passed its AI Act in record time in 2024, for instance, in a bid to be world leader in overseeing this field. But the act relies heavily on AI companies to regulate themselves without really addressing the issues in question. It hasn’t stopped tech companies from releasing LLMs worldwide to hundreds of millions of users and collecting their data without proper scrutiny.

    Meanwhile, the latest tests indicate that even the most sophisticated LLMs remain unreliable. Despite this, the leading AI companies still resist taking responsibility for errors.

    Unfortunately LLMs’ tendencies to misinform and reproduce bias can’t be solved with gradual improvements over time. And with the advent of agentic AI, where users will soon be able to assign projects to an LLM such as, say, booking their holiday or optimising the payment of all their bills each month, the potential for trouble is set to multiply.

    The emerging field of neurosymbolic AI could solve these issues, while also reducing the enormous amounts of data required for training LLMs. So what is neurosymbolic AI and how does it work?

    The LLM problem

    LLMs work using a technique called deep learning, where they are given vast amounts of text data and use advanced statistics to infer patterns that determine what the next word or phrase in any given response should be. The models – along with all the patterns it has learned – are stored in arrays of powerful computers in large data centres known as neural networks.

    LLMs can appear to reason using a process called chain-of-thought, where they generate multi-step responses that mimic how humans might logically arrive at a conclusion, based on patterns seen in the training data.

    Undoubtedly, LLMs are a great engineering achievement. They are impressive at summarising text and translating, and may improve the productivity of those diligent and knowledgeable enough to spot their mistakes. Nevertheless they have great potential to mislead because their conclusions are always based on probabilities – not understanding.

    Misinformation in, misinformation out.
    Collagery

    A popular workaround is called “human-in-the-loop”: making sure that humans using AIs still make the final decisions. However, apportioning blame to humans does not solve the problem. They’ll still often be misled by misinformation.

    LLMs now need so much training data to advance that we’re now having to feed them synthetic data, meaning data created by LLMs. This data can copy and amplify existing errors from its own source data, such that new models inherit the weaknesses of old ones. As a result, the cost of programming AIs to be more accurate after their training – known as “post-hoc model alignment” – is skyrocketing.

    It also becomes increasingly difficult for programmers to see what’s going wrong because the number of steps in the model’s thought process become ever larger, making it harder and harder to correct for errors.

    Neurosymbolic AI combines the predictive learning of neural networks with teaching the AI a series of formal rules that humans learn to be able to deliberate more reliably. These include logic rules, like “if a then b”, such as “if it’s raining then everything outside is normally wet”; mathematical rules, like “if a = b and b = c then a = c”; and the agreed upon meanings of things like words, diagrams and symbols. Some of these will be inputted directly into the AI system, while it will deduce others itself by analysing its training data and doing “knowledge extraction”.

    This should create an AI that will never hallucinate and will learn faster and smarter by organising its knowledge into clear, reusable parts. For example if the AI has a rule about things being wet outside when it rains, there’s no need for it to retain every example of the things that might be wet outside – the rule can be applied to any new object, even one it has never seen before.

    During model development, neurosymbolic AI also integrates learning and formal reasoning using a process known as the “neurosymbolic cycle”. This involves a partially trained AI extracting rules from its training data then instilling this consolidated knowledge back into the network before further training with data.

    This is more energy efficient because the AI needn’t store as much data, while the AI is more accountable because it’s easier for a user to control how it reaches particular conclusions and improves over time. It’s also fairer because it can be made to follow pre-existing rules, such as: “For any decision made by the AI, the outcome must not depend on a person’s race or gender”.

    The third wave

    The first wave of AI in the 1980s, known as symbolic AI, was actually based on teaching computers formal rules that they could then apply to new information. Deep learning followed as the second wave in the 2010s, and many see neurosymbolic AI as the third.

    It’s easiest to apply neurosymbolic principles to AI in niche areas, because the rules can be clearly defined. So it’s no surprise that we’ve seen it first emerge in Google’s AlphaFold, which predicts protein structures to help with drug discovery; and AlphaGeometry, which solves complex geometry problems.

    For more broad-based AIs, China’s DeepSeek uses a learning technique called “distillation” which is a step in the same direction. But to make neurosymbolic AI fully feasible for general models, there still needs to be more research to refine their ability to discern general rules and perform knowledge extraction.

    It’s unclear to what extent LLM makers are working on this already. They certainly sound like they’re heading in the direction of trying to teach their models to think more cleverly, but they also seem wedded to the need to scale up with ever larger amounts of data.

    The reality is that if AI is going to keep advancing, we will need systems that adapt to novelty from only a few examples, that check their understanding, that can multitask and reuse knowledge to improve data efficiency and that can reason reliably in sophisticated ways.

    This way, well designed digital technology could potentially even offer an alternative to regulation, because the checks and balances would be built into the architecture and perhaps standardised across the industry. There’s a long way to go, but at least there’s a path ahead.

    Artur Garcez 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. Neurosymbolic AI is the answer to large language models’ inability to stop hallucinating – https://theconversation.com/neurosymbolic-ai-is-the-answer-to-large-language-models-inability-to-stop-hallucinating-257752

    MIL OSI – Global Reports

  • MIL-OSI: Navicore Solutions sees a 12% increase in participation in financial literacy workshops, leading to lasting confidence in making informed financial decisions for participants

    Source: GlobeNewswire (MIL-OSI)

    MANALAPAN, N.J., May 30, 2025 (GLOBE NEWSWIRE) — Navicore Solutions, a leading nonprofit credit counseling organization, has seen a 12% increase in participation in its financial literacy workshops, so far this year. The significant increase in workshop attendance reflects a growing awareness of the importance of financial literacy for both teens and adults.

    “People are increasingly recognizing that financial education is not just about managing money today, but about building a foundation for lifelong financial success,” said Kim Cole, Navicore’s Community Engagement Manager. As of 2025, 32 states now require some form of personal finance education for high school graduation, up from 25 states in 2017. Despite growing interest in financial education, significant knowledge gaps persist, particularly with adults in underserved communities.

    Recent research continues to validate the lasting impact of financial education. According to a comprehensive study by Montana State University, high school students who received personal finance education made significantly better financial decisions when entering college. Furthermore, there is an economic benefit of roughly $100,000 per student from completing a one-semester class in personal finance at the high school level, according to a 2024 report by consulting firm Tyton Partners and Next Gen.

    Much of the value in basic financial education comes from learning how to avoid revolving credit card balances and leveraging better credit scores to secure preferential borrowing rates for key expenses, such as insurance, auto loans and home mortgages.

    “These findings align with what we’re seeing in our adult and community-based education programs,” noted Cole. “Participants who complete our workshops demonstrate improved ability to compare financial products, understand the true cost of different types of debt, and make more informed borrowing decisions.”

    “The statistics underscore the critical need for the work we’re doing,” said Cole. “Our workshops specifically address these knowledge gaps by providing practical, hands-on experience with financial concepts like interest rates, debt management, and saving and budgeting.”

    “The data is clear – early financial education pays dividends throughout life,” Cole emphasized. “Our goal is to help provide access to the financial knowledge communities need to make sound financial decisions, avoid costly mistakes, and build long-term financial security.”

    Navicore Solutions’ achievements demonstrate the viability of adult-focused financial literacy programs as tools for breaking intergenerational poverty cycles. By combining hands-on education with accessible debt management solutions, the organization equips participants to transform their financial trajectories—one informed decision at a time. As consumer debt reaches record highs and economic uncertainty persists, Navicore’s model offers a replicable blueprint for building financially resilient communities.

    About Navicore Solutions

    Founded in 1991, Navicore Solutions is a national leader in the field of nonprofit financial counseling with a mission to strengthen the well-being of individuals and families through education, guidance, advocacy, and support.

    Navicore counselors provide a wide range of services including credit counseling to consumers in need; education programs through workshops, courses and written material; debt management plan to provide relief for applicable consumers; student loan counseling for those struggling with student loan debt; and housing counseling services in the areas of rental, pre-purchase, default and reverse mortgage. The agency is an advocate of financial education helping communities achieve and maintain financial stability.

    Contact:
    Lori Stratford
    Digital Marketing Manager
    Navicore Solutions
    lstratford@navicoresolution

    The MIL Network

  • MIL-OSI Economics: Deposits with Scheduled Commercial Banks – March 2025 (Annual BSR-2)

    Source: Reserve Bank of India

    Today, the Reserve Bank released1 the web publication ‘Deposits with Scheduled Commercial Banks2 – March 20253’ on its ‘Database on Indian Economy’ portal4 (https://data.rbi.org.in Homepage > Publications).

    Scheduled commercial banks (SCBs) (including regional rural banks) report branch-wise data on type of deposits (current, savings and term), its institutional sector wise ownership, age wise distribution of deposits pertaining to individuals, maturity pattern of term deposits as well as number of employees in the annual ‘Basic Statistical Return’ (BSR) – 2 return. These data are released at disaggregated level (viz., type of deposits, population groups5, bank groups, states, districts, centres, interest rate ranges, size, original and residual maturity).

    Highlights:

    • Bank deposits grew (y-o-y) by 10.6 per cent during FY 2024-25 as compared to 13.0 per cent, net of merger, in the previous year (Chart I).

    • Household sector6 accounted for the largest share of SCB’s deposits at 60.2 per cent; the share of female depositors was 20.7 per cent in March 2025 (Chart II).

    • Branches in metropolitan areas, which constituted the dominant share in deposits, recorded 11.7 per cent annual growth in March 2025; whereas rural, semi-urban and urban centres registered 10.1 per cent, 8.9 per cent, and 9.3 per cent annual growth, respectively.

    • The higher returns on term deposits led to higher accretion in such deposits as compared to other type of deposits; the share of saving deposits declined to 29.1 per cent in March 2025 as compared to 30.8 per cent a year ago and 33.0 per cent two years ago.

    • Nearly 68.4 per cent of term deposits were having the original maturity of one to three as on March 2025.

    • The share of term deposits bearing interest rate of ‘7 per cent and above’ increased and stood at 72.7 per cent in March 2025 as compared to 64.2 per cent a year ago and 33.5 per cent two years ago.

    • The share of term deposits of size ‘Rs. one crore and above’ increased to 45.1 per cent in March 2025 from 43.7 per cent in March 2024.

    • The share of senior citizens’ deposits was 20.2 per cent of total deposits as on March 2025.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/448


    MIL OSI Economics