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Category: Trade

  • MIL-OSI Economics: Olli Rehn: Macroeconomic policy in times of global political upheaval

    Source: Bank for International Settlements

    Ladies and Gentlemen, Colleagues and Friends,

    Welcome to the sunny, spring-time Helsinki. On behalf of the Bank of Finland and the Centre for Economic Policy Research, it is my great pleasure to open this year’s research conference on monetary economics – which again has an excellent and a most fascinating programme!

    Let me begin with a mission statement – and a confession. Our slogan at the Bank of Finland is: “Securing stability – in science we trust.” That is, we lean on evidence- and theory-based economic analysis and policy-relevant research to support our stability mission.

    However, I must make a confession. In this turbulent world, it is comforting to return to a familiar setting and reflect on policy challenges alongside leading economists. Although only eight months have passed since our last gathering, it feels like the global landscape has shifted dramatically.

    And the confession is this, in front of you as researchers, scholars, scientists, leading economists; in these times of pervasive uncertainty, we need plenty of judgment and scenario analysis to supplement our economic and econometric research and regression equations, thus making monetary policy, by necessity, is as much an art as a science. Such is life in these strange times – but finally, at least, it dis make me understand why the Governor at Bank of Finland is, ex officio, also the chair of the arts committee of the Bank!

    Talking about geopolitics and its effects, just look at the ECB’s evolving language. Uncertainty went from “increased” to “high,” then “pervasive,” and now, per President Lagarde, “exceptional.” This isn’t linguistic inflation. It reflects how genuinely hard forecasting has become, with markets pricing in risk at levels not seen in years.

    Risks abound: from trade wars to faltering global alliances. For central bankers and researchers alike, this is no time for complacency. Instead of dissecting every new risk, today I want to focus on three key areas:

    • Lessons from the recent inflation surge;
    • Open questions around fiscal policy, particularly defence spending;
    • And finally, the role of productivity and innovation.

    Low inflation – past and future

    Let’s nevertheless recall there are some good news. The European economy is recovering. Unemployment is at 6.1%, the lowest since the euro’s creation. Inflation has been hovering just above 2% since late 2023, allowing the ECB to cut rates seven times.

    The energy shock that hit Europe in spring 2022 has played out very differently than in the 1970s, with the economic cost being much lower this time. Thanks to increased labour supply and lower working hours, wage-price spirals were avoided. Today’s labour market is more flexible, less unionised, and better educated.

    Importantly, inflation expectations were much better anchored before the recent inflation surge. This underlies the importance of central bank independence and a strong commitment to the inflation target. The ECB has focused firmly on maintaining these, and will continue to do so.

    Before Covid, the main challenge was that inflation remained stubbornly below the target. Most risks to the inflation outlook were deflationary, including population ageing and the related increase in savings, and the low investment demand. And before the ECB’s 2021 review and move to a symmetric 2% target over the medium term, which has worked well, the inflation target was perceived as a ceiling, creating a downward bias.

    From around 2021, inflationary pressures reappeared. First this was due to the pandemic-broken supply chains and stimulus-fuelled demand, then due to the energy shocks arising from Russia’s invasion of Ukraine.

    We learned how demand and supply shocks can be deeply intertwined. But we still face many unknowns in that regard. Current geopolitical tensions may expose us to new surprises that we have little historical experience of. Preferably, the spectre of a prolonged trade war with the US will dissipate sooner rather than later, as an economic conflict between long-standing friends and allies is the last thing we need in a world challenged by dictatorial impulses and by a neocolonial mentality.

    Furthermore, what if China shifts exports away from the US to Europe, slashing prices to compete? That could bring deflationary forces and industrial strain to the EU. Would it benefit consumers or hurt our economy overall? The policy response would not be straightforward.

    Let’s hope we don’t have to answer these questions through crisis. Whatever the challenge, the ECB will remain focused on price stability and its symmetric 2% inflation target over the medium term.

    Defence spending – new pressures

    Since the pandemic, fiscal spending pressures have risen. Now, security concerns are adding fuel. Russia’s aggression and doubts about US defence commitments are prompting big spending shifts across Europe. Germany is paving the way and has eased its constitutional debt limits.

    We can assume that with normal execution lags the most substantial fiscal impact will start to be felt from next year 2026 and 2027 onwards. This implies that the fiscal impact on the growth and inflation outlook will take effect in the medium term, as an ordinary citizen perceives is, although this timespan of fiscal impulse will mostly be beyond the projection horizon of medium term as understood in monetary policy. Our assessment indicate a moderately significant impact on growth and limited impact on inflation in the relevant timespan.

    Waking up and substantially increasing defence spending is welcome. Security is the bedrock of economic stability. Peace and security within European borders are fundamental to the European project and its economy.  Defence should be seen as a European public good. Further support for Ukraine should also be seen in the same light.

    But what does this mean for inflation? Historical comparisons to war-time money printing don’t apply here. Independent central banks like the ECB remain focused on keeping inflation expectations anchored.

    Still, we need to understand what type of shock defence spending represents. Is it demand or supply driven? Likely both, depending on how and where the money is spent.

    We also face the question of how to pay for it. EU-level spending would offer more stability and efficiency. That might mean higher membership fees, new revenue sources, or even treaty changes. Defence bonds – as safe assets – are one option, but only if backed by solid future income.

    Meanwhile, demands on public budgets are rising across the board: infrastructure, climate policy, aging populations.

    What guidance do we have so far from economics research?

    There is a large body of literature on fiscal multipliers, which incidentally often uses defence spending as a natural experiment or exogenous shock. These multipliers are frequently estimated to be below one, because public spending or investment usually crowds out private one.

    However, evidence suggests that multipliers tend to be larger in times of recession and economic slack. Moreover, some of the best evidence on the magnitude of fiscal multipliers is based on US data, where the multiplier may be smaller. This is simply because the US defence industry is very large compared to its European counterpart and is thus more likely to face diminishing marginal returns.

    All these issues mean that for European defence spending to be successful and sustainable, we must make every euro count. The additional defence spending should focus on investment in building up industrial network capacity and R&D, rather than simply procurement of defence equipment, which may be largely imported.

    Then there is also the aspect of defence efficiency. For this, we need sound planning and coordination at the European level, as well as a common market for defence, as stressed in last year’s Letta Report. Recent experience has shown that training in the use of unfamiliar weapons and problems with shortages of spare parts can become critical bottlenecks. Therefore, further harmonisation of technical standards and types of arms and equipment across European defence forces is key.

    With a history of independent and diminished national defence industries, the EU has some considerable catching up to do. We need to increase both national and EU-level defence spending, e.g. as Bruegel has suggested, by establishing a European Defence Mechanism formed by a coalition of the capable and willing. Such a fund would bypass the limitations to raising EU-level income, be resilient to any intra-EU obstruction and could also accommodate countries from outside the European Union, like the United Kingdom and Norway.

    In short: defence spending won’t necessarily be inflationary. But to be effective, it must be efficient. We need smart investments – in industrial capacity, innovation, and R&D – not just procurement. And we must avoid fragmented efforts. A European Defence Mechanism, built by a coalition of the capable and willing, could also help to pursue these goals.

    Innovation – defence and civilian

    Let’s now turn to innovation. Defence spending often yields big returns beyond the battlefield. Its effectiveness should be assessed from a long-term perspective, not only via short-run multipliers. Historically, it has given rise to technological breakthroughs that have not only found direct civilian applications but created whole new non-defence industries.

    Walkie-talkies were created during the Second World War at Motorola for infantry and artillery communication. Radar gave us microwave ovens. Military satellites gave us GPS and digital imaging. Jet engines, nuclear energy, the internet – all have military origins. Dual-use in action.

    Yes, these are cherry-picked examples. But they highlight that basic research often needs public support. The private sector tends to shy away from “unknown unknowns.”

    Modern defence is about technology, not just steel and troops. And there’s often more pressure to innovate efficiently. Look at Ukraine – it has rapidly developed drone tech, despite scarce resources.

    We know that Europe needs a productivity boost. For years, we depended on cheap energy from Russia, cheap goods from China and the security shield from the U.S. abroad. That stability was a mirage, if not a hallucination.

    To maintain our living standards and sovereignty, we must double down on innovation by investing on human capital and creating a conducive environment for research and researchers. Whether it’s AI, clean tech, green transition or digitalisation, we can’t afford to lag behind. Innovation is not optional; it’s vital for Europe’s future – a necessary condition for sustaining Europe’s quality of life and democratic values.

    Why not use the EU Horizon programme to create a scholarship and visa programme for returning and moving scientists to attract talent to Europe, where critical thinking and academic freedom in universities are encouraged and safeguarded?

    Dear friends,

    Let me conclude. Europe finds itself in a puzzling paradox, which would be funny if it were not purely pathetic. As Polish PM Donald Tusk put it starkly recently by quipping as follows: “500 million Europeans are asking 300 million Americans to protect them from 140 million Russians.”

    We need to put an end to that paradox. Europe must take responsibility for its own external security, in today’s harsh geopolitical world.

    This isn’t just about military strength. It’s about cohesion, economic resilience and long-term growth. We need to spark Europe’s industrial renewal, reinforce technological leadership, and enhance productivity.

    As history shows, Europe tends to move forward in times of crisis. In every crisis there is an opportunity – this time round we must use it particularly wisely to make Europe more resilient and capable of thriving again.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Economics: Anita Angelovska Bezhoska: Building stronger partnerships for economic growth

    Source: Bank for International Settlements

    Ladies and gentlemen,

    It is a pleasure to join you today at this important event organized by the Macedonian American Alumni Association. On this occasion, allow me to share some insights on the topic of regional economic collaboration and its potential to unlock new opportunities for sustainable growth in the Western Balkans region.

    Let me begin my address with a dose of realism. Despite 3 decades of transition, economic convergence in the Western Balkans remains low – income is less than half of the EU income, and the progress has been particularly slow since the GFC. In our case, the income level stands at 41% of the EU average. This remains one of the most pressing challenges across the region. In addition, let me add a dose of honesty. This slow progress cannot be attributed solely to recent external shocks. Indeed, the crises of the past few years, such as the global pandemic, energy disruptions, and inflationary pressures, have all undoubtedly taken their toll. These shocks, however, did not create our vulnerabilities, they only exposed them and amplified structural weaknesses that have already existed. Data clearly show that the slowdown in convergence was already in motion well before the recent crises, reflecting cyclical downturns as well as deeper structural challenges. Over the past two decades, the region’s potential growth has nearly halved, from about 5% during 2000-2008 to just 2.5% between 2009 and 2024. Macedonian potential growth fell even more sharply, from 3.1% to 2.3%. It is a fact that the potential growth of the EU economy has declined as well, but less than ours (2.9% to 1.8%), pointing that future convergence may be even more challenging.

    What explains the decline in potential and actual growth across the Western Balkans?

    The analysis shows that it is broad-based, stemming from weaker contributions from all three key drivers of long-term growth: productivity, labor, and capital. First, productivity has stalled, with productivity levels remaining at approximately half the EU average. This is due to the fact that innovation, technological diffusion, and digital transformation have not kept pace with global shifts. For example, the Global Innovation Index (2024) ranks North Macedonia at the 58th position out of about 130 countries, with the lowest ranking in the R&D segment, where we have invested 10 times less than advanced economies. Second, labor input is weakening too. One in five people born in the WB region is now living abroad, and one in three considers leaving the country (OECD Survey). And finally, the stock of capital remains low at only about 30% of the EU stock, reflecting insufficient investments both in terms of size and quality.

    These are not just economic figures. They highlight the persistent gap between the economic achievements so far and the still untapped potential within our economies.

    And this is precisely where the power of regional partnership can be harnessed, creating a clear path to accelerate growth. Indeed, empirical research shows that multilateral free trade agreements and regional cooperation can contribute to growth directly, through trade and FDI flows1, and indirectly, through increased productivity2. For example, some studies3 find that CEFTA led to increased trade among members by at least 74%. In addition, evidence4 shows that its implementation has not only deepened trade ties but also contributed to the economic growth of its members.

    So, where does the WB region stand today in terms of trade and financial integration?

    Well, regarding trade, data shows that despite the progress, regional integration remains low. As of 2024, total intra-regional trade stood at about 11% of the total WB trade, and continued to follow the downward trend that began after the pandemic crisis. In the Macedonian case, trade with WB peers makes up only 14% of our total exports and 9% of imports. These are modest shares indicating significant room for expansion by making trade easier, faster, and cheaper.

    When it comes to FDIs, intra-regional FDI flows also remain limited, with a significant portion of investment coming from outside the region, mainly from the EU. In the Macedonian case, investment originating from WB countries accounts for only around 3% of the total FDI inflows over the last decade, which is among the lowest shares in the region. In this context, boosting intra-regional FDI could help diversify investment sources, promote knowledge and technology transfer, and deepen economic linkages in the region. And a more integrated regional market, through the economy of scale, can be a more attractive destination for investments outside the region.

    Looking forward, what can be done to further strengthen regional integration and growth prospects?

    It appears that there are a couple of priorities. First, intensify reforms to address common structural issues such as low productivity, capital investments, but also tight labor markets. Recent findings from the Balkan Barometer (2024) indicate that 70% of WB businesses call for public policies specifically designed to keep talent within the region. Then, continue aligning regional regulations and standards, and eliminating administrative obstacles to address market fragmentation and increase regional competition. As an example, trucks spend 28 million hours waiting at borders every year – a burden that costs 1% of the region’s GDP. Of course, this has to be done in a way that means aligning with European standards and practices. As the 2024 OECD’s competitiveness data show, since 2018 the policy environments across the WB countries have steadily converged toward EU standards, but the pace of convergence varies across different dimensions and countries. No country has so far reached EU standards in any of the 15 policy dimensions assessed.

    One important area, which is within the remit of the central banks, is improving the efficiency of cross-border payments, which can act as engines of growth by facilitating trade, commerce, and tourism. In this regard, a significant milestone was reached earlier this year when our country officially joined the Single Euro Payments Area (SEPA).

    No doubt, all these reform efforts are costly, but the EU’s Growth Plan for the Western Balkans introduces a 6 billion EUR facility in grants and concessional loans, aimed at supporting them. In fact, a Common Regional Market initiative is one of the key pillars of the Growth Plan and is expected to be a catalyst for the deeper integration of 18 million people. Some estimates show that this initiative, through increased harmonization, could add 10% to the GDP of the economies in the region5.

    Still, to effectively use the provided funding and implement reforms, the quality of institutions is of key importance. According to the World Bank institutional quality indicators, our country ranks slightly above the average for the WB region, but if we compare the entire region with developed countries, a significant gap is evident. Empirical research has shown that in lower-income countries, strengthening institutions has a significant positive contribution to higher economic growth.

    To conclude, the path to sustainable and inclusive growth in the Western Balkans does not lie in isolation, but in collaboration. As the well-known Japanese poet Satoro wisely said, “Individually, we are one drop. Together, we are an ocean.”

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Europe: Answer to a written question – Energy taxation rules – E-001180/2025(ASW)

    Source: European Parliament

    The green taxation reform is a key element of Cyprus’ recovery and resilience plan[1]. It aims to internalise environmental externalities, encouraging more efficient use of resources and incentivising the adoption of renewable energy.

    This is crucial in Cyprus where carbon prices and municipal waste recycling lag behind the rest of Europe, and water scarcity is a challenge.

    The green taxation reform includes a carbon tax, which constitutes a transition towards the Emissions Trading System applicable from 2027 to buildings and road transport, a levy on water and a charge on landfill waste, both of which will be incrementally increased.

    As regards the taxation of motor and heating fuels, and of electricity, in the recent Action Plan for Affordable Energy and Clean Industrial Deal[2], the Commission has reiterated its call on Member States to complete the revision[3] of the current Energy Taxation Directive.

    This is a recognition of the crucial role that the revision can play in promoting affordable energy and clean industry. As communicated in the action plan for Affordable Energy, the Commission will issue a recommendation to Member States by the end of 2025.

    This will be taken forward in line with the present Directive[4], which allows decreasing taxes for electricity consumed by households and energy intensive industries.

    In addition to structural and cohesion funds, the Social Climate Fund aims to support a fair transition towards climate neutrality. It will provide Member States with dedicated funding so that the most affected vulnerable groups can be directly supported.

    • [1] https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility/country-pages/cyprus-recovery-and-resilience-plan_en.
    • [2] COM(2025) 79 final and COM(2025) 85 final of 26.02.2025.
    • [3] COM(2021) 563 final of 14.07.2021.
    • [4] Council Directive 2003/96/EC of 27 October 2003.
    Last updated: 3 June 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Tariff rate quota system with Ukraine – E-001473/2025(ASW)

    Source: European Parliament

    The Commission is pursuing consultations with Ukraine to review the reciprocal tariff liberalisation under the EU-Ukraine Association Agreement[1] in accordance with Article 29 of that Agreement.

    This review will lead to a well-balanced solution that will allow for reciprocal trade between the EU and Ukraine in agricultural goods, while at the same time protecting EU farmers and addressing interests flagged by some Member States and Members of the European Parliament.

    Furthermore, the Commission is proposing that the negotiated solution would also include a safeguard clause that would be triggered to prevent any adverse impacts of trade flows on the EU market, including one Member State.

    The Commission is working in view of having an outcome in place in time to provide a smooth transition after the expiry of the Autonomous Trade Measures (ATMs) Regulation[2]. If this is not achievable the above-mentioned Association Agreement will provide a bridging solution.

    • [1] http://data.europa.eu/eli/agree_internation/2014/295/oj.
    • [2] http://data.europa.eu/eli/reg/2024/1392/oj.
    Last updated: 3 June 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Support measures for Greek table olives – E-001483/2025(ASW)

    Source: European Parliament

    On 2 April 2025 the United States (US) announced a 10% across-the-board additional tariff on most EU exports to the US as of 5 April, including on table olives from Greece, to be increased to 20% as of 9 April.

    On 9 April 2025, the US, however, suspended the 20% additional tariff for a 90-day period, while keeping an additional 10% tariff in place. These additional 10% US tariffs also apply to US imports from Egypt, Türkiye, Morocco and other countries.

    The EU adopted countermeasures against the US tariffs on steel and aluminium[1] but suspended those for 90 days[2] to allow sufficient space and time for negotiations towards a mutually satisfactory solution. Should these negotiations not be successful, the adopted countermeasures can automatically enter into force again.

    Also, the EU continues preparatory work for possible further proportionate countermeasures in response to other additional US import tariffs.

    The EU has at its disposal several instruments to address impacts on EU agricultural producers from situations of market disturbance.

    The EU has successfully challenged at the World Trade Organisation (WTO) the countervailing duties imposed by the US on imports of ripe olives from Spain.

    This is in the context of trade defence procedures. The US has not imposed any anti-dumping or countervailing duties on table olives from Greece and no specific challenge at the WTO against US tariffs on table olives from Greece is therefore envisaged at this stage.

    • [1] Commission Implementing Regulation (EU) 2025/778 of 14 April 2025 on commercial rebalancing measures concerning certain products originating in the United States of America and amending Implementing Regulation (EU) 2018/886, OJ L, 2025/778, 14.4.2025, ELI: http://data.europa.eu/eli/reg_impl/2025/778/oj.
    • [2] Commission Implementing Regulation (EU) 2025/786 of 14 April 2025 suspending commercial rebalancing measures concerning certain products originating in the United States imposed by Implementing Regulation (EU) 2025/778 and amending Implementing Regulation (EU) 2023/2882, OJ L, 2025/786, 14.4.2025, ELI: http://data.europa.eu/eli/reg_impl/2025/786/oj.
    Last updated: 3 June 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: European Commission and EIB to further support decarbonisation projects from the Innovation Fund

    Source: European Investment Bank

    • The agreement allows EIB Advisory to further increase its impact on supporting innovative decarbonisation projects in line with the Clean Industrial Deal.
    • Companies can now apply for project development assistance via the EIB Innovation Fund Project Development Assistance website.
    • The renewed agreement for the Innovation Fund Project Development Assistance (PDA) is building on the success of the first Innovation Fund PDA programme.

    The European Commission and the European Investment Bank (EIB) have signed an agreement renewing Project Development Assistance (PDA) under the Innovation Fund to increase technical and financial advisory support for innovative decarbonisation projects that are either not selected via the Fund or are preparing to apply. The renewed PDA agreement aligns with the EU’s Clean Industrial Deal, which aims to increase the deployment of net-zero technologies and boost the competitiveness of industries across the EU.

    Under the renewed agreement, EIB Advisory will provide PDA to up to 250 projects between 2025 to 2028, offering broader sectoral coverage and a smooth application process. This builds on the initial Innovation Fund PDA programme, which supported 62 innovative projects – 16 of which have already secured Innovation Fund grants, seven more have received funding from national sources or other programmes; and one has been designated an EU project of common interest.

    With the expanded scope for broader coverage, the Commission has increased the budget available for EIB Advisory and its new PDA phase from €24 million to €90 million. This will further accelerate the deployment of cutting-edge decarbonisation technologies across Europe:

    • New sectors such as net-zero and low-carbon mobility including maritime, rail and road transport, and buildings have been added to the mandate following the changes to the Emission Trading System (EU ETS) which included these sectors in the Innovation Fund project scope.
    • New Key Performance Indicators (KPIs) have been added to help achieve geographical and sectoral balance and to promote small–scale projects as well as support immature projects.

    The PDA contributes directly to the EIB’s strategic goals in climate action and innovation, reinforcing the shared commitment to support the development of high-impact projects that will help the EU meet its climate neutrality target and foster the growth of a sustainable and clean industrial base.

    EIB Advisory services will be more easily accessible as projects can receive PDA through direct requests (‘open PDA’), in addition to the standard support mechanisms linked to Innovation Fund calls. This flexibility enhances the accessibility of the programme and allows for faster and more tailored support to promising innovative clean tech and industrial decarbonisation projects.

    Under the open PDA, promoters will be able to contact the EIB advisory services directly to receive advice. EIB Advisory will carry out an assessment to identify the eligible projects’ needs and the potential of the PDA to address these, substantially increase the maturity of the project and with it the chances of success in relevant Innovation Fund calls. PDA will be awarded on a ‘first-come-first-served’ basis following this assessment.

    For more information

    EIB Innovation Fund Project Development Assistance website

    Commissioner Hoekstra said:

    “Through the Project Development Assistance from the Innovation Fund the EIB is providing further technical and financial help for promising decarbonisation projects. We lay the foundations of the innovative and competitive industrial base of tomorrow. This proves the EU’s long-term commitment to industrial decarbonisation and innovation. We are confident that the EIB with this renewed agreement will continue delivering a successful tailor-made support to Innovation Fund projects.”

    Christoph Kuhn, EIB Deputy Director General Projects Department said:  
    “With the renewed PDA agreement, EIB Advisory is not only building on past success. It’s setting a new standard for how Europe can support its most innovative and transformative clean technologies.”

    MIL OSI Europe News –

  • MIL-OSI Europe: EU Fact Sheets – The European Union and the World Trade Organization – 02-06-2025

    Source: European Parliament

    The World Trade Organization (WTO) works to guarantee a rules-based international trading system. Despite the impasse in trade negotiations, ways to modernise WTO rules and address new global challenges are being explored. Under the Lisbon Treaty, Parliament legislates jointly with the Council, has to approve any changes or new WTO agreements and has an important scrutiny role on international trade policy.

    MIL OSI Europe News –

  • MIL-OSI Russia: Over 28,000 people applied to participate in the 4th China-Africa Trade and Economic Expo

    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

    CHANGSHA, June 3 (Xinhua) — More than 28,000 people representing 48 African countries, nine international organizations, 27 Chinese provincial-level regions and more than 4,700 Chinese and African enterprises, chambers of commerce and financial institutions have applied to participate in the fourth China-Africa Economic and Trade Expo, according to a press conference held by the Information Office of the People’s Government of Hunan Province, central China.

    Held every two years, the expo will be held from June 12 to 15 under the theme “China and Africa: Together for Modernization” in Changsha, capital of Hunan Province. As an important platform for implementing the agreements reached at the Forum on China-Africa Cooperation in economic and trade, the expo will host 30 related events in areas including industrial chain cooperation, green mining, infrastructure, traditional medicine and pharmaceuticals, cultural industries and trade in cultural products, and innovation and youth entrepreneurship.

    According to the organizers, the number of specific exhibitions will increase significantly during the upcoming EXPO. For the first time, such events as the exhibition of famous Chinese and African brands, the exhibition of high-quality African goods, the China-Africa cultural and tourism exhibition, the exhibition dedicated to the cooperation of China and Africa in the field of traditional Chinese medicine will be held. 25 African countries and 23 Chinese regions will set up stands with their symbols.

    During the exhibition, agreements are expected to be signed on the implementation of 199 projects for a total amount of USD 16.032 billion. Presentations of 36 results in various profiles will also take place.

    According to the data, 336 cooperation projects worth a total of US$53.32 billion were signed during the first three EXPOs.

    China has been Africa’s largest trading partner for 16 consecutive years. In 2024, trade between China and African countries set a new record and reached US$295.6 billion, up 4.8 percent from 2023. In particular, China’s imports from Africa amounted to US$116.8 billion, up 6.9 percent, and China’s exports to Africa amounted to US$178.8 billion, up 3.5 percent. -0-

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Government Cuts – Government guts WorkSafe – CTU

    Source: New Zealand Council of Trade Unions Te Kauae Kaimahi

    The Minister for Workplace Relations and Safety’s announcement today on gutting WorkSafe’s enforcement capability signals a return to a failed approach, that will weaken our health and safety system, said the New Zealand Council of Trade Unions Te Kauae Kaimahi.

    “A soft approach to poor health and safety was a critical failing that led to the Pike River mine disaster, one of the worst health and safety failings in New Zealand history,” said NZCTU President Richard Wagstaff.

    “Brooke van Velden continues to systematically gut WorkSafe to help protect businesses from enforcement of breaches of the law, rather than protecting the workers who suffer huge rates of injury and fatality as a result of work.

    “WorkSafe was established in the wake of the Pike River mine disaster. It was clear that we needed a well-resourced, effective, and strong regulator, that was prepared to prosecute where necessary, as this was clearly lacking.

    “Every week a worker is killed on the job on average in New Zealand, and 17 more are killed from the impact of work-related illnesses and diseases. Every year there are over 30,000 injuries suffered that require more than a week away from work. Nothing in these announcements will have a positive effect on these numbers.

    “In the past few years, WorkSafe has endured cuts to the tune of millions of dollars, resulting in fewer staff. Since it was established the WorkSafe inspectorate has reduced from 8 per 100 thousand employees to 6.5, amongst cuts to the wider WorkSafe staffing levels.

    “The Minister’s decision to gut WorkSafe is a reflection of a government that is prioritising profits over people,” said Wagstaff.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Education – Kilikiti bats bring Ara campuses together for Samoa Language Week

    Source: Ara Institute of Canterbury

    Samoan kilikiti pate (cricket bats) specially hand crafted and decorated by students will be at the centre of Gagana Samoa (Samoa Language Week) celebrations at Ara Institute of Canterbury.
    In a first for Ara, a tournament will take place bringing together teams from across the institute to play the Pacific nation’s favourite sport.
    The event is the vision of Ara’s Te Whatu Ora funded Pacific lead in Mental Health and Wellbeing, Greg Galovale, who wanted to involve trades students in a community project with a fitness focus.
    “I was seeking to promote joinery in the Pacific space but also health, wellbeing and community,” Golavale said. “Our Level 3 Pre-Trade joinery tutors Tim and Jody saw the prototype and got right behind the idea. The end result is fantastic!” he said.
    Kilikiti bats were also made, decorated and gifted to key community groups who participated in Moana Health workshops to launch Gagana Samoa on campus. The event followed the 2025 theme ‘Ia malu lou sā. Folau i lagimā – a well-grounded self is a successful self.’
    The Wednesday kilikiti tournament will see teams from Ara’s Woolston, City and Manawa (nursing) campuses line up alongside a team made up of the joinery students who crafted the bats.
    Joinery student Theresa Desouza said it had been a rewarding project and she was looking forward to the event.
    “I’ve lived in a lot of different countries, so I grew up very multiculturally. This opportunity to engage in another culture and build community has been beautiful,” Desouza said.
    Student Advisor Pacific (Fautua ma So’oupu) Rev. Fitifiti Luatua visited the Woolston campus to share insights and first-hand experience of the game with the class.
    Fergus Gaughan said he’d enjoyed learning about the history of kilkiti and the stories behind the bat design.
    “This project has also brought me back to why I started getting interested in woodworking. I enjoy working with raw timbers and shaping them. Being able to take something unrecognisable and turning it into art resonates with me,” he said.
    Joinery tutor Tim Melker said incorporating the project into coursework had been straightforward as the skills involved in making the three-sided bat were similar to aspects of furniture making.
    “Our learners started with a square block. We used a jig and other machinery to cut off the bulk and then hand tools to fine tune it,” he said. “But the standout aspect has been the cultural awareness we’ve gained through learning about the sport, having Rev share insights into the design of the bats and his experiences of playing in Samoa.”
    Tutor Jody Pehrson added the class had created a legacy item through the project and the energy in the workshop told its own story.
    “The proof is in the engagement. Everyone has been focused on creating a bat worthy of the sport and now they want to go and play the game. We’ve all learned a lot,” he said.
    Once the bats left the hands of the trades learners, they were decorated and embellished by a team led by third-year Bachelor of Design (Applied Visual Art) student Lydia Iosefo.
    “I do a lot of stencil work in my study, so this drew on that with some traditional patterning,” Iosefo said. “As a bonus, this will count towards my professional practice hours which tests our ability to work with clients and deliver projects on deadline.”
    Golavale said he was pleased the project had resonated with all those involved and he was looking forward to the inaugural kilikiti tournament – rain or shine.
    “If the weather doesn’t play ball we’ll head to the Whareora. We’ll be ready for some fun and expect plenty of banter,” he said. 

    MIL OSI New Zealand News –

  • MIL-OSI United Kingdom: UK and India hold high level dialogue in Delhi

    Source: United Kingdom – Government Statements

    World news story

    UK and India hold high level dialogue in Delhi

    Sir Oliver Robbins, Permanent Under-Secretary at the Foreign, Commonwealth & Development Office (FCDO) is in India.

    Sir Oliver Robbins, Permanent Under-Secretary at the Foreign, Commonwealth & Development Office with India’s Foreign Secretary, Shri Vikram Misri

    Sir Oliver Robbins, Permanent Under-Secretary at the Foreign, Commonwealth & Development Office (FCDO) is in India to review progress across the UK and India’s Comprehensive Strategic Partnership. He met India’s Foreign Secretary, Shri Vikram Misri, in New Delhi today [3 June] for the annual UK-India Foreign Office Consultations.

    They welcomed the significant breakthroughs achieved across the full breadth of the partnership since consultations in London last year, including the announcement of the historic trade deal. Economic growth is the number one mission of the UK Government. Both agreed to work towards implementing the shared vision of the two prime ministers for an ambitious partnership between the UK and India over the next decade.

    This year’s consultations included the inaugural Strategic Exports and Technology Cooperation Dialogue, aimed at building mutual understanding of systems and agreeing areas for future cooperation on key sectors such as technology and defence.

    Sir Oliver Robbins, Permanent Under-Secretary at the FCDO, said:

    I’m delighted to be in India to help advance one of the UK’s most vital partnerships in the world. In a more complex world, there is strong ambition from both governments to take this partnership to even greater heights. I’m looking forward to working with Foreign Secretary Misri to make that a reality.

    During the visit, Sir Oliver is also expected to meet a wide range of Indian government partners including on the G20 and home affairs.

    Further information:

    • Sir Oliver Robbins was appointed Permanent Under-Secretary (PUS) at the Foreign, Commonwealth & Development Office (FCDO) in January 2025. As PUS, he is Head of the UK’s Diplomatic Service and the most senior policy adviser to the Foreign Secretary. The PUS is responsible for the management of the FCDO in the UK and its embassies and high commissions around the world.

    • The UK and India agreed a landmark trade deal on 6 May, which will redefine the partnership for the next generation, strengthening trade links, supporting jobs, and delivering shared prosperity. The deal is expected to increase bilateral trade already worth £43 billion by another £25.5 billion.

    • The UK’s Plan for Change sets out milestones the UK Government aims to reach by the end of this Parliament.

    Media

    For media queries, please contact:

    Chloe Barry, Deputy Head of Communications,
    British High Commission, Chanakyapuri,
    New Delhi 110021. Tel: 24192100

    Media queries: BHCMediaDelhi@fcdo.gov.uk

    Follow us on Twitter, Facebook, Instagram, Flickr, Youtube and LinkedIn

    Updates to this page

    Published 3 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Mable Chan to promote HK logistics

    Source: Hong Kong Information Services

    Secretary for Transport & Logistics Mable Chan will lead Logistics Development Council members on a visit to Chengdu and Chongqing tomorrow to promote Hong Kong’s strengths in logistics.

    Ms Chan and the delegation will visit local logistics facilities to gain insights into their operations and explore collaboration opportunities in logistics.

    She will also attend the Hong Kong-Chongqing logistics sector co-operation seminar, organised by the Logistics Development Council and Trade Development Council, to foster exchanges between industry players from Hong Kong and Chongqing.

    Furthermore, she will meet government officials from Chengdu and Chongqing to discuss issues of mutual interest.

    Ms Chan will return to Hong Kong on Friday evening. During her absence, Under Secretary for Transport & Logistics Liu Chun-san will be Acting Secretary.

    MIL OSI Asia Pacific News –

  • MIL-OSI: MoonFox Data Releases New Report: Instant Retail Becomes the Next Battleground as JD.com and Meituan Intensify Food Delivery Competition in China

    Source: GlobeNewswire (MIL-OSI)

    Shenzhen, June 03, 2025 (GLOBE NEWSWIRE) — [Shenzhen, China] – [June 3, 2025] – MoonFox Data, a leading provider of market intelligence and data analytics, today released its latest report, “Instant Retail Remains a Long-Term Battle, and the Food Delivery Battle Is Just the Beginning.” The report reveals how China’s instant retail sector is entering a new phase of fierce competition, with JD.com and Meituan at the forefront, leveraging food delivery as a critical driver of user growth and market expansion in 2025.

    In 2025, JD.com and Meituan engaged in several rounds of online “cross-platform jabs” over their food delivery services. Topics such as “Food Delivery Battle” and “Meituan Issues Another Statement” trended on social media. Amid the ensuing “war of words” and mounting public debate, both platforms’ ambitions in the “instant retail” space were laid bare.

    Tracing back their development, it is evident that JD.com and Meituan have been investing in instant retail for over a decade. As early as 2018, Meituan internally launched the “Flash Sale” brand focused on instant delivery of retail items. However, after 7 years and multiple rounds of fierce competition in community group purchase, “Meituan Flash Sale” was only officially launched as an independent brand in 2025. Meanwhile, from 2015 to 2023, JD.com steadily bolstered its capabilities in supply chain, digitalization, and logistics. By integrating diverse service segments, including JD Health, JD Car Care, and convenience supermarkets, the company established a robust localized service chain. In 2024, building on this integrated capacity, JD.com officially unveiled “JD Instant Delivery” as its flagship instant delivery service.

    Table 1: Development History of Instant Retail Business on Various Platforms

    JD.com Meituan
    2015: Launched “JD Home Delivery” service 2018: Internally launched “Meituan Flash Sale”
    2019: Launched “Meituan Vegetable Shopping”, rapidly expanding into first-tier cities and entering the community group purchase market
    2021: JD.com and DADA jointly launched “JD Hourly Purchase” 2020:

    In July, launched “Meituan Selected” to capture community e-commerce in lower-tier markets

    In September, began deploying “Meituan Flash Warehouse” in first-tier cities
    2022: JD became the controlling shareholder of DADA Group Upgraded “Meituan Vegetable Shopping” to “Xiaoxiang Supermarket” in December 2023, expanding supply from fresh produce to daily retail goods
    2024:

    Integrated “JD Hourly Delivery”, “JD Home Delivery”, etc., and launched “JD Instant Delivery” with a primary entrance on the JD homepage in May

    JD’s fresh food business “7FRESH” opened its first pre-warehouse in Beijing and commenced operations in September

    		 2024:

    Xiaoxiang Supermarket increased its proportion of self-operated products, benchmarking against Freshippo and Sam’s Club, featuring single-portion/small-quantity offerings for differentiation

    Meituan initiated a “Ten Thousand Warehouses for Thousand Cities” network layout; by October, the number of Flash Warehouses exceeded 30,000
    2025:

    Launched food delivery on the JD platform in February

    Rebranded “JD Vegetable Shopping” to “JD 7FRESH” in March, transitioning to a platform model to offer fresh food access from Sam’s Club, Pagoda, Dingdong Vegetable Shopping, and others

    JD launched “Self-operated Instant Delivery” e-commerce service in April; over 100,000 JD-branded offline stores have connected to Instant Delivery; Starbucks Delivery and HLA Group officially came on board

    		 Official launch of Meituan Flash Sale as an independent brand in April 2025

    Data Source: Public information, compiled by MoonFox Research Institute

    I. Instant Retail Shows Strong Potential, but Sustained Survival Remains Challenging

    To begin with, it’s essential to clarify the concepts of local life services and instant retail: Local life services refer to the use of online channels to display information about local brick-and-mortar businesses, with transactions completed offline services (through in-store visits or home). This model emphasizes “geographic relevance”. Instant retail, as a key component of local life services, involves delivering products from local retail models (such as supermarkets, warehouses, and storefronts) directly to consumers through same-city delivery. It covers a wide range of categories, including food & beverages, fresh produce, electronics, and pharmaceuticals. Services like hourly delivery, half-day delivery, community group purchase, and food delivery all fall within the scope of instant retail. Its high time sensitivity is the key factor distinguishing it from traditional e-commerce and parcel delivery.

    The local life services sector is constantly seeing the emergence of new entrants. However, most of these newcomers tend to focus on “in-store” business models rather than delivery-heavy services, as the latter demand robust and fast-changing delivery ecosystems that many find difficult to sustain.

    For example, Douyin launched “Beckoning Food Delivery” in 2021 and formed strategic partnerships with service providers like Ele.me, DADA, and SF Express. However, after lukewarm results, Douyin Life Services pivoted its local service strategy to focus on the business from group purchase to in-store visits. Kwai trialed food delivery through selected local life service merchants in 2023 but did not scale up, maintaining its focus on in-store deals of group purchase. DiDi attempted to launch food delivery twice in China but failed both times and has since shifted its food delivery ambitions to overseas markets in 2025. Community group purchase brands like Nice Tuan, Chengxin Selected and MissFresh shut down around 2023 due to operational difficulties…

    Despite these setbacks, instant retail still holds vast potential within China, especially in lower-tier markets.

    Industry statistics show that in 2024, China’s instant retail market reached approximately RMB 780 billion, accounting for only 6% of total online retail of physical goods. The market distribution between major cities and county-level areas is roughly 7:3. By 2030, the market is expected to surpass RMB 2 trillion.

    Table 2: Instant Retail Market Growth in China (2018 – 2030)

    Year Instant Retail Market Transaction Volume (RMB 100 million) Transaction Volume YoY Growth Share of Online Retail Transaction Volume of Physical Goods
    2018 690 88 % 1.0 %
    2019 1,180 71 % 1.4 %
    2020 2,150 82 % 2.3 %
    2021 2,350 9 % 2.2 %
    2022 5,040 114 % 4.5 %
    2023 6,500 29 % 5.3 %
    2024 7,800 20 % 6.0 %
    2025E 10,030 29 % 7.1 %
    2026E 11,750 17 % 7.7 %
    2023E 20,000 10.1 %

    Data Source: Chinese Academy of International Trade and Economic Cooperation, National Bureau of Statistics, Reports from SDIC Securities, compiled by MoonFox Research Institute.

    II. Platforms Face Growth Anxiety and Urgently Need New Growth Curves

    For JD.com, local life services remain fertile ground with significant untapped potential. Among them, instant retail, characterized by high purchase frequency and rapid conversion, is undoubtedly a critical lever for driving business growth and attracting UV.

    Table 3: Comparison of Different Retail Models (In Terms of Profitability Efficiency: Instant Retail > Traditional E-commerce > Offline Retail)

    Type Instant Retail Traditional E-commerce In-store Visits of Group Purchase Offline Retail
    Consumer Behavior Place order online, with hourly delivery or flash delivery Place order online → shipped via express → received Order online, redeem in-store Browse and purchase in-store, offline payment
    B2B Requirements High-frequency demand; rich product supply is essential

    Low return rate

    Instant fulfillment

    		 High-frequency demand

    High return rate

    Long fulfillment cycle

    		 Pre-purchase vouchers

    Redemption rates fluctuate

    Unstable fulfillment window

    		 Low-frequency demand

    Low return rate

    Instant fulfillment

    Traditional e-commerce has passed its high-growth phase. In recent years, large-scale promotional events such as “618” and “D11” have lost their earlier traction, signaling consumer fatigue towards excessive discounting and promotional gimmicks. In response, e-commerce platforms such as Taobao, JD.com, and Vipshop have extended promotional periods and introduced “Billion-RMB Subsidy” to maintain total sales growth. However, Pinduoduo’s rapid rise and the increasing competitiveness of emerging e-commerce platforms like Douyin and Kwai have created new challenges. JD.com’s dominance, particularly in the electronics product category, is now under threat from multiple fronts.

    During Meituan’s Q3 2024 financial report audio conference, founder Wang Xing commented on industry trends, stating that instant retail will eventually account for over 10% of the total e-commerce market, and that Meituan Flash Sale’s growth has exceeded expectations. The 2024 financial report noted: “In 2024, ‘Meituan Flash Warehouses’ experienced significant growth, particularly in lower-tier markets, where they have become a key growth channel for many retailers. A number of major traditional retail companies have adopted ‘Meituan Flash Warehouse’ model… As our instant delivery business expands, we remain committed to building a sustainable ecosystem.”

    According to Meituan’s financial reports from 2022 to 2024, the platform’s gross profit margin has grown by over 30% YoY for three consecutive years, with its gross margin increasing from 28% to 38%. Core local services revenue maintained a YoY growth rate exceeding 20%, and new business income continued to accelerate. Although Meituan Flash Sale had not yet officially launched, it was repeatedly highlighted in annual financial reports over the past 5 years as a key growth engine for the platform.

    III. JD.com’s Surprise PR Offensive: Rapid Expansion into Meituan’s Core Territory

    In early April, JD.com CEO Xu Ran stated in an interview with 36Kr that the food delivery business could help JD.com increase both user base and purchase frequency, extending its service scenarios.

    On April 15, a leaked 7-minute internal meeting audio recording of Liu Qiangdong revealed his views on the domestic food delivery industry: Food delivery platform commissions can reach as high as 25% (sometimes over 30%), which he attributed to monopolistic practices that force small and medium-sized merchants to cut food quality, negatively impacting the consumer experience. He also proposed differentiated insurance policies for full-time and part-time couriers to better safeguard their rights.

    As early as 2022, Meituan’s financial report showed that its food delivery business had reached a peak of over 60 million orders per day. Although there is still a significant gap in order volume between the two platforms, JD Food Delivery achieved over 10 million in a single day on April 22, reflecting rapid growth.

    Comparing the daily new user growth for merchant and courier platforms since the start of 2025, JD Instant Delivery Merchant Edition and DADA Instant Delivery Courier Edition apps saw a UV surge. According to MoonFox Data, JD Instant Delivery Merchant Edition app peaked in daily new user numbers on April 24. Both platform initiatives and market responses clearly indicate that JD is making a bold incursion into Meituan’s food delivery “stronghold”.

    Table 4: New Daily User Growth on Merchant & Courier Platforms (2025)

    Average Daily New Users Meituan Food Delivery Merchant Edition App Meituan Courier Edition App Meituan Crowdsourcing DADA Instant Delivery Courier Edition App JD Instant Delivery Merchant Edition App
    January 13,236 18,069 18,624 12,345 2,671
    February 14,186 26,081 33,413 69,820 45,454
    March 16,606 23,781 34,178 47,042 50,499
    April 17,256 21,021 31,207 181,658 64,538

    Data Source: MoonFox iApp, Data Cycle: January 1, 2025 – April 27, 2025

    For users, switching between food delivery apps has low friction. With a clear intent to order, pricing and delivery time are often the only decisive factors. Last summer, Ele.me attracted UV via its “Answer to Win Free Meal” campaign, which relied on extremely low discounts and simple, engaging interactions. While Meituan launched “Meal Group Buying”, significantly lowering average order value to retain users through volume sales, though at the cost of some dining experience. In addition, Ele.me also tied its premium membership to Taobao’s 88VIP, leveraging high member stickiness from Taobao to boost Ele.me order frequency.

    For platforms, the fast migration of users and high usage frequency makes food delivery the best UV lever for JD.com to grow its instant retail business. But before that, onboarding a large number of restaurant merchants and recruiting a sufficient courier fleet are essential. Since launching JD Food Delivery on February 11, the platform has used a range of PR tactics to become a major industry topic, quickly moving beyond its cold start into a phase of explosive growth.

    • Late February: JD took the lead in advocating reform in the food delivery sector, focusing on courier welfare. This proactive stance gave JD the upper hand in the initial “war of words”. With value-driven messaging and concrete policy support, JD.com gained public recognition and courier endorsement.
    • In April, JD.com and Meituan entered a second round of confrontation. JD.com issued an open letter condemning Meituan’s various “misdeeds” and simultaneously rolled out new support policies and promotional benefits, once again pushing “JD Food Delivery” into the spotlight across the internet. The following day, “Liu Qiangdong Takes on Food Delivery” showcased JD’s strong commitment to developing its food delivery business. With a light-hearted and humorous public image, Liu won over netizens, who jokingly dubbed his delivery persona “GG Bond”. This, coupled with the platform’s swift marketing response, sparked a new wave of viral attention.

    During this second “war of words” wave, although Meituan responded swiftly with rebuttals, and some couriers questioned the accuracy of JD’s claims on social media, the incentives offered by JD helped counterbalance earlier criticism. However, overall, the various incentives released by the platform are helping to offset the negative public opinion caused by early-stage issues. JD has still managed to earn the trust of most merchants and couriers.

    Table 5: Platform-level New User Scale Growth

    Average Daily New Users Meituan App JD App
    January 2,031,496 862,633
    February 1,168,203 807,748
    March 1,265,657 889,403
    April 1,331,168 1,484,954

    Data Source: MoonFox iApp, Data Cycle: January 1, 2025 – April 27, 2025

    Table 6: Key Events in the 2025 “Food Delivery Battle”

    Key Date JD.com Actions Meituan Responses
    February 24 JD Food Delivery announced “Three Key Policies”: no commission all year, full social insurance for full-time couriers, and mandatory dine-in capability for merchants Meituan launched the “City Defense Plan”, lowering core merchant commissions from 23% to 6% – 8%.
    April 14 JD launched “Self-operated Instant Delivery” Meituan Flash Sale launched.
    April 21 JD issued an open letter: accusing Meituan of forcing couriers to choose one platform and announced plans to recruit 100,000 full-time couriers and offer a “late delivery, free meal” policy. Meituan denied the accusations and ramped up subsidies.
    April 22 JD Food Delivery surpassed 10 million daily orders; “Liu Qiangdong Takes on Food Delivery” trended online.

    IV. The “Food Delivery Battle” Ushers in a New Era of Instant Retail Competition

    In April, amid the intense “Food Delivery Battle” between JD.com and Meituan, both Meituan “Flash Sale” and JD’s “Self-operated Instant Delivery” services were launched simultaneously.

    Just ahead of the Labor Day holiday, “Taobao Flash Sale” went live in 50 cities, followed by a nationwide rollout on May 2. To drive up order frequency during the holiday, Taobao partnered with Ele.me to issue substantial consumer subsidies such as free-order card and treat-voucher card.

    According to MoonFox Data, since April 2025, JD.com’s daily new user volume has continuously increased, and has surpassed Meituan’s since April 16. Since the launch of its food delivery service, JD.com has also seen a steady rise in average user online time. As of April 23, average daily online time reached 14.27 minutes per user, increased by 54% compared with the same period last year.

    Table 7: Changes in JD.com’s Active User Online Time

    Month Average Usage Time (mins/month)

    MoM Changes
    2024-4 276.31 -4.3 %
    2024-5 300.10 8.6 %
    2024-6 310.27 3.4 %
    2024-7 292.11 -5.9 %
    2024-8 291.60 -0.2 %
    2024-9 309.98 6.3 %
    2024-10 337.85 9.0 %
    2024-11 332.55 -1.6 %
    2024-12 319.87 -3.8 %
    2025-1 329.24 2.9 %
    2025-2 310.20 -5.8 %
    2025-3 343.47 10.7 %
    2025-4 384.93 12.1 %

    Data Source: MoonFox iApp, Data Cycle: April 28, 2024 – April 23, 2025

    Despite reports of issues such as “inefficient processes” and “system bugs” with JD Food Delivery, there are still many shortcomings in the courier operation procedures that need to be addressed. However, driven by benefits related to commission rates and employee protection, a large number of couriers are switching platforms, while food delivery merchants and offline stores are also accelerating their entry into “JD Instant Delivery”. With intensified investment in business development models, infrastructure construction, and supporting policies, both JD and Meituan are stepping up efforts to seize market share.

    Table 8: Platform Characteristics Comparison

    Infrastructure JD Instant Delivery Meituan Flash Sale
    Warehouse Mode Centralized Warehouses (self-operated) + Branded Stores (as front warehouses) Flash Warehouse + Offline Retail Stores
    Delivery Service DADA Instant Delivery(contracted couriers) + JD Logistics Third-party Service Provider Contracted Couriers
    Introduction Stage

    Policy Advantages

    		 0% commission for select premium merchants

    “Billion-RMB Subsidy” campaign for JD Food Delivery users

    Job & insurance support for couriers

    		 0% commission for Flash Warehouse franchising (initial investment > RMB 300K)

    Exclusive UV privilege, “Climbing Plan” course and customized support for new merchants
    Digital Platform JD Instant Delivery Open Platform Meituan Morning Glory System
    Coverage Area As of May 2024, JD Instant Delivery has covered 2,300 counties/cities, with 500K+ partner stores As of October 2024, Meituan has had over 30K flash warehouses
    UV Entrance JD App (homepage + search bar) Meituan Homepage + Meituan Food Delivery

    Data Source: Public information, compiled by MoonFox Research Institute

    Meituan’s instant retail business is an extension of its food delivery capabilities, relying on third-party franchises and offline retail store partnerships for warehousing, and service-provider-based courier models. This asset-light strategy plays to Meituan’s platform operation strengths, enabling rapid territorial expansion across cities.

    JD’s instant retail business places greater emphasis on its “self-operated” model, leveraging its early investments in e-commerce warehousing as a key foundation. It expands operations based on regional fulfillment centers while strengthening partnerships with offline stores, particularly branded chain stores, to enhance delivery efficiency and ensure product quality, a strategy that aligns with users’ existing perception of JD’s authenticity and logistics capabilities in e-commerce. The supply of local couriers primarily relies on contracted riders from DADA Instant Delivery. In recent years, JD Group’s increasing equity stake in DADA has further strengthened its influence over last-mile delivery in the instant retail sector.

    The attention generated by the “Food Delivery Battle” and the boom of instant retail has created invisible pressure for traditional e-commerce giants like Taobao. Taobao, backed by Alibaba’s vast ecosystem, including Tmall Supermarket, Amap, Ele.me, Freshippo, and Alipay, has promising opportunities in the local life service sector. However, the coordination between different business units and the logistics efficiency within the last 3 to 5 kilometers remain key challenges that the platform must overcome to scale its instant retail business.

    At present, Taobao Flash Sale appears to be a combination of Ele.me’s original food delivery services and Taobao’s previous “hourly delivery” feature, swiftly entering the competition to drive UV and user engagement. During the Labor Day holiday, topics such as #Taobao Flash Sale Crashed# even trended on social media platforms.

    For Meituan, instant retail represents a new growth engine; For JD.com, it is a strategic lever to drive growth across its entire e-commerce ecosystem. Compared with the overt and covert competition between the two giants, the rapid launch of Taobao Flash Sale is more of a defensive move. Its long-term prospects remain to be seen. For now, all major platforms are still focused on strengthening infrastructure and optimizing operational efficiency, with instant retail shaping up to be a long-term battle.

    About MoonFox Data

    As a sub-brand of Aurora Mobile, MoonFox Data is a leading expert in data insights and analysis services across all scenarios. With a comprehensive, stable, secure and compliant mobile big data foundation, as well as professional and precise data analysis technology and AI algorithms, MoonFox Data has launched iAPP, iBrand, iMarketing, Alternative Data and professional research and consulting services of MoonFox Research, aiming to help companies gain insights into market growth and make accurate business decisions.

    About Aurora Mobile

    Aurora Mobile (NASDAQ: JG) established in 2011, is a leading customer engagement and marketing technology service provider in China. Its business includes notification services, marketing growth, development tools, and data products.

    For Media Inquiries:

    Contact: zhouxt@jiguang.cn | Website: http://www.moonfox.cn/en

    The MIL Network –

  • MIL-OSI: Grow Your IB and Affiliate Business with Axi at the 2025 Money Expo Colombia

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, June 03, 2025 (GLOBE NEWSWIRE) — Leading online FX and CFD broker Axi has announced that it will attend this year’s Money Expo Colombia, taking place June 25-26, 2025, in Bogota, Colombia.

    Event attendees will have the opportunity to explore how they can grow their IB and Affiliate business. “We invite all traders to visit our booth and connect with our team,” says Santiago Vazquez-Munoz, Regional Head for UK, Europe, and LATAM, before adding, “We look forward to showcasing how our exceptional partnership opportunities can help traders elevate their business. Attendees at the expo will also have access to exclusive deals available only during the event.” Furthermore, attendees will also have the opportunity to learn about Axi Select, Axi’s capital allocation program featuring zero registration or registration fees, capital funding up to $1,000,000 USD, the opportunity to earn up to 90% of the profits, and advanced tools to accelerate traders’ trading potential.

    Football enthusiasts can also visit Axi’s booth to get an inside look at the broker’s longstanding partnership with Manchester City, Premier League Champions. Manchester City memorabilia and the club’s mascots will be on-site for photo opportunities, and attendees will have the chance to win exciting prizes from the broker – including signed player shirts and other merchandise.

    The broker has a longstanding partnership with Manchester City FC, Girona FC, and Esporte Clube Bahia. In 2023, they also announced England international John Stones as their Brand Ambassador. In 2024, the broker was recognised with the ‘Innovator of the Year’ award at the Dubai Forex Expo, and was honoured by Finance Feeds with the titles of ‘Most Reliable Broker’, ‘Broker of the Year’ and ‘Most Innovative Proprietary Trading Firm’.

    Watch video : https://youtu.be/92qBSHsGHMM?si=0pdt_bV7sAdQVOsB

    About Axi

    Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.

    For more information from Axi, please contact: mediaenquiries@axi.com

    The Axi Select program is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available to AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees and minimum deposit apply.

    The MIL Network –

  • MIL-OSI Economics: Edward S Robinson: Welcome remarks – 12th Asian Monetary Policy Forum

    Source: Bank for International Settlements

    Good morning.
    Deputy Prime Minister Heng Swee Keat, 
    Managing Director Chia Der Jiun,
    Distinguished speakers, central bank colleagues,
    Honoured Guests.

    Introduction

    Thank you for taking the time to be here for the 12th Asian Monetary Policy Forum. We are greatly honoured that DPM Heng Swee Keat has been able to join us. He provided the impetus to the inception of ABFER/AMPF a decade ago and has continued with strong counsel and encouragement.  DPM as a policymaker internalises the economic way of thinking. He applies careful and thoughtful analytical reasoning based on the evidence to a range of policy issues, including enhancing the economy’s macro-competitiveness. He has made significant contributions to the strengthening of Singapore’s international trade relationships and holds a deep conviction in the benefits of comparative advantage and broader economic complementarities across countries. DPM has played a pivotal role in ingraining the principles and practices that define Singapore’s robust, forward-looking approach to economic policy making. 

    The Global Economic Context

    In 2024, the global economy was showing clear signs of recovery. Inflation was easing, growth was holding steady at potential, and central banks were beginning to cut policy rates. Yet today, prospects have darkened against conditions of underlying unpredictability.

    The Economics of Protectionism

    Economists readily acknowledge the firm case against protectionism. Import taxes destroy trade benefits by disrupting efficient resource allocation and reducing consumer surplus, as domestic households face higher prices and fewer choices. Both the targeted and tariff-imposing economies suffer. 

    MIL OSI Economics –

  • Indian companies post satisfactory Q4 results despite global challenges: Bank of Baroda Report

    Source: Government of India

    Source: Government of India (4)

    Corporate performance of Indian companies in the fourth quarter of financial year 2025 remained satisfactory despite a tough global economic environment, according to a recent report by Bank of Baroda.

    The report highlighted that most companies are optimistic about their future growth prospects, and there is potential for further improvement once consumption demand picks up in FY26.

    The report said, “Corporate performance in Q4 FY25 was on the whole satisfactory and there is scope for an upward movement once consumption pick up in FY26. Importantly, despite a challenging global environment, companies remain positive on future growth prospects”.

    The report pointed out that certain sectors are already showing signs of recovery. Sectors linked to infrastructure are experiencing steady growth even though they are being compared to a high base from last year.

    In the case of consumer-related sectors like FMCG and consumer durables, strong rural demand and seasonal factors have played a key role in supporting recovery.

    The services sector has also continued to grow at a steady pace, driven by strong demand.

    The report noted that stable commodity prices, low inflation in India, a favourable monsoon outlook, trade agreements, government spending on infrastructure, and tax benefits are expected to be important drivers of growth and demand in the coming months.

    According to the report, aggregate net sales of a sample of 1,893 companies increased by 5.4 per cent in Q4 FY25, while net profits rose by 7.6 per cent. Expenses and interest costs remained under control, which helped improve the debt repayment ability of companies.

    However, some slowdown in sales was seen in large sectors such as oil and gas, textiles, and iron and steel. This had a negative impact on the overall performance of the sample. But the report suggested that this is likely a one-time occurrence and not a long-term concern.

    Similarly, the BFSI (banking, financial services, and insurance) sector, which performed strongly last year, saw some moderation in growth. This has been linked to a slowdown in credit growth.

    Overall, the report painted a positive picture of India Inc’s performance in Q4 FY25 and suggests that companies are well-positioned to benefit from improving demand and supportive policy measures in the next financial year.

    (ANI)

  • MIL-OSI Asia-Pac: Statistics on vessels, port cargo and containers for the first quarter of 2025

    Source: Hong Kong Government special administrative region

         The Census and Statistics Department (C&SD) today (June 3) released the statistics on vessels, port cargo and containers for the first quarter of 2025.
     
         In the first quarter of 2025, total port cargo throughput decreased by 3.9% to 41.1 million tonnes over a year earlier. Within this total, inward port cargo decreased by 10.8% to 24.5 million tonnes, while outward port cargo increased by 8.6% to 16.6 million tonnes.
     
         On a seasonally adjusted quarter-to-quarter comparison, total port cargo throughput increased by 2.6% in the first quarter of 2025. Within this total, inward port cargo decreased by 1.3% compared with the preceding quarter, while outward port cargo increased by 8.9% compared with the preceding quarter. The seasonally adjusted series enables more meaningful shorter-term comparison to be made for discerning possible variations in trends.
     
    Port cargo
     
         In the first quarter of 2025, within port cargo, seaborne and river cargo decreased by 3.7% and 4.2% to 25.9 million tonnes and 15.2 million tonnes respectively over a year earlier.
     
         Comparing the first quarter of 2025 with a year earlier, a double-digit increase was recorded in the tonnage of inward port cargo loaded in Chile (+33.3%). On the other hand, double-digit decreases were recorded in the tonnage of inward port cargo loaded in Vietnam (-30.6%), Taiwan (-23.9%), Malaysia (-21.6%), Thailand (-21.4%), Korea (-18.5%), Japan (-13.8%) and the mainland of China (-13.2%). For outward port cargo, double-digit increases were recorded in the tonnage of outward port cargo discharged in Australia (+28.3%), Taiwan (+22.8%) and the mainland of China (+22.5%). On the other hand, double-digit decreases were recorded in the tonnage of outward port cargo discharged in the United States of America (-31.9%), the Philippines (-30.6%), Malaysia (-27.8%), Thailand (-25.9%), Japan (-21.5%) and Vietnam (-18.1%).
     
         Comparing the first quarter of 2025 with a year earlier, double-digit changes were recorded in the tonnage of inward port cargo of “metalliferous ores and metal scrap” (+24.9%), “artificial resins and plastic materials” (-15.0%) and “stone, sand and gravel” (-37.7%). As for outward port cargo, triple-digit or double-digit changes were recorded in the tonnage of “stone, sand and gravel” (+122.9%), “metalliferous ores and metal scrap” (+15.6%) and “artificial resins and plastic materials” (-20.6%).
     
    Containers
     
         In the first quarter of 2025, the port of Hong Kong handled 3.37 million twenty-foot equivalent units (TEUs) of containers, representing an increase of 1.6% over a year earlier. Within this total, laden containers decreased by 3.3% to 2.58 million TEUs, while empty containers increased by 21.2% to 0.80 million TEUs. Among laden containers, inward and outward containers decreased by 2.9% and 3.6% to 1.39 million TEUs and 1.19 million TEUs respectively.
     
         On a seasonally adjusted quarter-to-quarter comparison, laden container throughput increased by 1.6% in the first quarter of 2025. Within this total, inward laden containers increased by 3.3%, while outward laden containers decreased by 0.4%.
     
         In the first quarter of 2025, seaborne and river laden containers decreased by 3.3% and 3.2% to 1.82 million TEUs and 0.76 million TEUs respectively over a year earlier.
     
    Vessel arrivals
     
         Comparing the first quarter of 2025 with a year earlier, the number of ocean vessel arrivals decreased by 1.1% to 4 506, with the total capacity also decreasing by 3.8% to 70.8 million net tons. Meanwhile, the number of river vessel arrivals decreased by 0.7% to 19 800, while the total capacity increased by 22.6% to 23.1 million net tons.
     
    Further information
     
         Port cargo and laden container statistics are compiled from a sample of consignments listed in the cargo manifests supplied by shipping companies and agents to the C&SD. Vessel statistics are compiled by the Marine Department primarily from general declarations submitted by ship masters and authorised shipping agents. Pleasure vessels and fishing vessels plying exclusively within the river trade limits are excluded.
     
         Table 1 presents the detailed port cargo statistics.
     
         Table 2 and Table 3 respectively present the inward and outward port cargo statistics by main countries/territories of loading and discharge.
     
         Table 4 and Table 5 respectively present the inward and outward port cargo statistics by principal commodities.
     
         Table 6 presents the detailed container statistics.
     
         Table 7 presents the statistics on vessel arrivals in Hong Kong.
     
         More detailed statistics on port cargo, containers and vessels are published in the report “Hong Kong Shipping Statistics, First Quarter 2025”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020008&scode=230).
     
         For enquiries about port cargo and container statistics, please contact the Electronic Trading Services and Cargo Statistics Section of the C&SD (Tel: 2582 2126 or email: shipping@censtatd.gov.hk). For enquiries about vessel statistics, readers may contact the Statistics Section under the Planning, Development and Port Security Branch of the Marine Department (Tel: 2852 3662 or email: st-sec@mardep.gov.hk).

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Australia’s lowest paid workers just got a 3.5% wage increase. Their next boost could be even better

    Source: The Conversation (Au and NZ) – By John Buchanan, Professor, Discipline of Business Information Systems, University of Sydney Business School, University of Sydney

    Carlos Castilla/Shutterstock

    A week ago, the Australian Financial Review released this year’s “Rich List”. It reported the number of billionaires in Australia increased from 150 to 166 between 2024 and 2025.

    A very different story is happening at the other end of the market. On Tuesday the Fair Work Commission awarded the lowest paid 20% of wage earners a 3.5% increase as a result of its annual review.

    The commission acknowledged even with this increase, our lowest paid employees will not be earning as much in real terms as they did before the post-COVID inflationary surge of 2021-2022.

    Why such a meagre increase?

    In Australia it has long been accepted that – all things being equal – wages should move with both prices and productivity.

    Adjusting them for inflation ensures their real value is maintained. Adjusting them for productivity means employees share in rising prosperity associated with society becoming more productive over time.

    This “prices plus productivity” model of wage rises is, however, subject to economic circumstances. In recent times the key circumstance of concern has been inflation.

    Depending how it is measured it peaked at between 6.5% and 9.6% in 2022-2023.

    Since 2022, economic agencies such as the Reserve Bank and state treasuries, along with finance sector economists, have been preaching about the threat of inflation persisting.

    Cutting real wages to control inflation

    Interest rates were increased to tame the inflation dragon. And these
    agencies all issued dire warnings about the threat of long-term inflationary pressure if wages were adjusted to maintain lower and middle income earners living standards.

    In its last three decisions the Fair Work Commission accommodated this narrative. Since July 2021 it ensured wages for the lowest paid 20% of employees did not keep up with inflation.

    Unsurprisingly, real wages for award-dependent employees fell.

    The commission has done its best to look after those on the absolute lowest rates: that is the 1% or so on the national minimum wage.

    Their wages have fallen by 0.8% over the period since July 2021. For those in the middle of the bottom 20% of employees dependent on awards the fall has been in the order of 4.5%.

    For example, this is the fall experienced by an entry level tradesperson in manufacturing dependent on an award.

    Because inflation is currently running at about 2.4%, the 3.5% increase marks a modest 1% real wage gain for a worker on or close to the entry level manufacturing tradesperson rates.

    In making this increase, the commission argued if real wage cuts continued, the entrenchment of lower minimum award rates was likely. It noted the economy is in pretty good shape – not just in terms of inflation and employment – but also many firms are turning a profit.

    What about productivity?

    The other striking feature of the post-COVID economic recovery has been poor productivity performance. It initially went backwards and more recently has flatlined.

    The commission rejected arguments recent poor performance in national productivity numbers should prevent raising the minimum award higher than inflation.

    It did this because it distinguished between productivity in the market and non-market sectors. In the former, productivity growth has been modest, but positive.

    Poor numbers in the non-market sector like health and social services were an artefact of both measurement problems and the need for more workers per unit output to boost the quality of these services.

    Silver linings?

    It is always a judgement call as to what is the appropriate scale of any wage increase. Given low paid workers were not the source of recent inflationary pressure, it is reasonable to claim now is the time to reverse the recent trends of cutting their real wages.

    Whether the increase had to be so modest is something the commission has
    indicated it is open to considering in future hearings. It has sent this signal by floating two novel arguments.

    The first argument concerns how cuts in real pay are calculated. In its decision it makes the very important point that conventional measures of real wage movements use monthly measures of inflation but wages only increase annually.

    It’s on this basis the 4.5% cut for the benchmark entry level trade worker in manufacturing was calculated.

    The commission notes, however, that if you take into account wages only rise once a year and inflation rises continuously, the overall loss of earnings power for such workers has been 14.4% since July 2021.

    This is a much higher account of real wage cuts than has previously informed debates on wages policy.


    FairWork Commission Annual Wage Review 2025, CC BY-NC-ND

    Secondly, the commission has noted consideration should be given to phasing out some of the lowest classifications in the award system. This is something it has done in the past.

    In this way it does not have to “increase rates” for low paid
    classifications as such. Rather, it just eliminates the possibility of having rates for exceptionally low paid jobs – and so raises the base rates dramatically for the lowest paid workers.

    Next year, things could be better. Australia has a long history of having a wages system that takes seriously the needs of all workers, and especially the low paid. This decision marks a break with the recent habit of using the lowest paid workers as a shock absorber for macroeconomic policy.

    The 3.5% rise is a modest increase but an important one. More important is the framework the commission has set up for decisions in future years. Devising a more accurate measure of real wage cuts and noting the importance of abolishing whole classifications of low paid work lays the foundations for potentially very exciting developments in Australian wages policy in coming years.

    John Buchanan has undertaken research on wages policy for over forty years. His most recent work has been supported by funding provided by the Electrical Trades Union, the NSW Nurses and Midwives Association, the Queensland Nurses and Midwives Union and the Australian Salaried Medical Officers Federation (NSW Branch). He is member of the National Tertiary Education Union (NTEU) and Branch Council Member of that union at the University of Sydney.

    – ref. Australia’s lowest paid workers just got a 3.5% wage increase. Their next boost could be even better – https://theconversation.com/australias-lowest-paid-workers-just-got-a-3-5-wage-increase-their-next-boost-could-be-even-better-258072

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: 26 Degrees selects QuantHouse for enhanced US equities coverage

    Source: GlobeNewswire (MIL-OSI)

    Sydney, London, New York, June 03, 2025 (GLOBE NEWSWIRE) — Iress today announced that 26 Degrees Global Markets, the multi-asset prime broker, has added the QuantHouse Cboe One Feed to its US equity data coverage, further expanding its US trading capabilities and enhancing its offering for retail brokers seeking ‘out of hours’ access to US markets.

    The Cboe One Feed is the latest QuantHouse market data feed for Sydney-headquartered 26 Degrees and complements existing feeds for multi-asset data from North America, Europe and APAC trading venues.

    The addition of QuantHouse Cboe One Feed data will support 26 Degrees in the delivery of innovative and client-centric solutions to their global client base, and also reflects growing industry demand for extended market access, particularly in Asia. The Cboe One Feed offers consolidated, real-time market data from Cboe’s four US equities exchanges – which collectively account for 21.2%* of US equities on-exchange trading. This includes data from the early hours trading session (4am – 7am ET), during which Cboe has a 40.5% market share*.

    QuantHouse’s Head of EMEA & APAC Sales and Business Development, Rob Kirby, said: “The integration of the new Cboe One Feed by 26 Degrees enhances its US market data coverage considerably, supporting CFD retail flow and meeting growing investor appetite, particularly in Asia, to trade around the clock. We are delighted to continue to support 26 Degrees’ growth strategy with efficient, low latency access to market data from around the world, through a single connection.”

    26 Degrees’ Group Chief Commercial Officer, James Alexander, added: “26 Degrees’ long-standing partnership with QuantHouse ensures our clients benefit from reliable, low-latency market data. By integrating new Cboe One Feed market data within our QuantHouse API interface, we can offer traders, particularly in Asia, unparalleled access to US markets, unlocking new growth opportunities.”

    Adam Inzirillo, Cboe’s Global Head of Data Vantage, said: “We are pleased that 26 Degrees and its clients now have access to the Cboe One Feed, which represents a comprehensive, reliable and high-quality source of US equities market data. Cboe is committed to meet the growing international demand for access to US markets, by delivering high-quality market data as efficiently as possible.”

    QuantHouse continues to expand its global market data reach and connectivity. The Cboe One Feed complements existing US equity venues and other exchange feeds across Canada, Europe and Asia Pacific regions, including Blue Ocean Technologies ATS, created specifically to enable global investors to trade US equities outside of New York Eastern Time market hours.

    For more information on accessing US Equities market data via QuantHouse, a division of Iress, clients are encouraged to contact their account manager.

    * Data 2025 YTD (January – May), excludes off-exchange trading reported through the Trade Reporting Facility (TRF)

    Ends

    For further details, please contact:
    Melanie Budden
    Mobile: +44 (0) 7974 937970
    Email: melanie.budden@therealizationgroup.com

    About QuantHouse
    QuantHouse (part of Iress) is a leading provider of international market data. It delivers high-performance API data feeds, historical and analytics data products it has crafted over the past 20+years to hedge funds, investment banks, brokers, market makers, financial technology providers and trading venues supporting integrated trading strategies, applications, and analytic databases.

    For more information please visit the website.

    About Iress
    Iress (IRE.ASX) is a technology company providing software to the financial services industry. We provide software and services for trading & market data, financial advice, investment management, superannuation, life & pensions and data intelligence in Asia-Pacific, North America, Africa, the UK and Europe. 

    www.iress.com

    About 26 Degrees
    26 Degrees Global Markets is an award-winning multi-asset Prime Broker specialising in providing prime services to broker-dealers, hedge funds, proprietary trading firms and family offices globally. With over a decade of proven history under former brand Invast Global, 26 Degrees is continuing to revolutionise the prime brokerage space by providing bespoke and innovative solutions to their clients internationally and responding quickly to the constantly evolving institutional client needs. 

    The MIL Network –

  • MIL-OSI China: Chinese fireworks spark growth with expansion into Africa

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

    At the headquarters of a fireworks company in Liuyang City, central China’s Hunan Province, Hu Yichuang guided clients through the dozens of fireworks on display in the showroom.

    This photo taken on Dec. 28, 2024 shows people watching a fireworks show in Liuyang City, central China’s Hunan Province. (Xinhua)

    From time to time, he scanned QR codes on the packaging with his smartphone, instantly bringing the dazzling spectacle of each firework to life on screen.

    “These videos give clients a clearer visual understanding of how the products perform,” Hu said.

    Born in the 1990s, Hu took over the family business after completing his studies abroad. He now serves as general manager of Happy Fireworks Export Trading Co., Ltd., which has exported more than 500 types of fireworks products to over 60 countries worldwide.

    An experience abroad gave Hu a fresh perspective on the fireworks industry in his hometown of Liuyang.

    “During my time in Britain, I witnessed how fireworks displays became the highlight of London’s New Year’s Eve celebrations, with spectators reserving premium viewing spots up to six months in advance,” Hu recalled.

    What truly astonished him was the discovery that the majority of these dazzling pyrotechnics originated from Liuyang, which filled him with both pride for his hometown and professional inspiration.

    “This revelation showed me how highly sought-after our hometown’s fireworks are overseas,” Hu said. “Liuyang’s pyrotechnics have tremendous potential in the global market.”

    The discovery steeled his resolve to return home, join the family business, and expand its international footprint in the fireworks industry.

    Liuyang, acclaimed as China’s fireworks hub, is currently home to 431 fireworks production enterprises with annual output exceeding 50 billion yuan (about 6.96 billion U.S. dollars). The city’s fireworks account for approximately 70 percent of China’s total exports, reaching consumers across the world.

    With traditional Western markets nearing saturation, Liuyang’s fireworks industry is increasingly focusing on emerging markets, including Africa, according to Wen Guanghui, chairman of a local fireworks industry association.

    “Africa’s booming population, vibrant festival culture, and rising purchasing power are driving rapid growth in the fireworks market,” Hu said.

    He added that his company has identified Africa as a strategic growth engine for its global operations and has established partnerships with enterprises in seven countries, including Kenya, Tanzania, South Africa, and Uganda. “Our fireworks exports to Africa are on track to hit 10 million yuan this year.”

    Liuyang fireworks are gaining steady recognition across Africa. Sebunya Hussien, a Ugandan pyrotechnics distributor who has long been engaged in fireworks sales and displays, recalled how “China’s Liuyang” kept appearing during his online searches for premium suppliers when he was working on expanding his import channels.

    After viewing a series of production process demonstration videos released by Hu’s company, along with vlogs documenting their staff’s participation in international trade exhibitions and market research trips across global markets, Hussien promptly reached out to the company. This initial contact ultimately led to his 40-hour cross-continental journey to conduct an on-site inspection in Liuyang.

    Witnessing firsthand how simple paper tubes are transformed into breathtaking aerial displays — and learning about Liuyang’s advanced pyrotechnic manufacturing processes — left Hussien deeply impressed. He said this experience has cemented his commitment to forging long-term partnerships with Liuyang’s fireworks producers.

    To better align with African market preferences, local fireworks manufacturers are continuously refining their product strategies.

    “African clients favor fireworks with vibrant colors and high-intensity bursts,” Hu explained. “Building on China’s popular ‘viral fireworks’ trends, we’ve developed innovative products that deliver stunning visual impact alongside exceptional cost-performance.”

    Hu noted that the company has also launched a new line of daytime fireworks specifically designed to meet the needs of African consumers for sporting events, weddings, and other daytime celebrations.  

    MIL OSI China News –

  • MIL-Evening Report: 1 in 3 men report using intimate partner violence. Here’s how we can better protect women – and help men

    Source: The Conversation (Au and NZ) – By Anastasia Powell, Professor of Family and Sexual Violence, RMIT University

    One in three men (32%) aged 18 to 57 years report using emotional abuse towards a partner. One in ten (9%) say they have used physical violence.

    These are some of the statistics from the latest report of the Australian Longitudinal Study on Male Health – the Ten to Men study.

    The report also shows 2% of men have engaged in sexual abuse towards an intimate partner. Overall, among the 120,000 men surveyed, one in three (35%) said they’d used a form of violence towards an intimate partner in their adult life.

    The findings give us important new insights into men’s use of partner violence. It is among the first Australian studies to explore the factors linked with men’s use of partner violence in a large, general community sample.

    Being a longitudinal study – which surveys the same men at different points in time – also gives unique insights into the onset of intimate partner violence.

    And crucially, it points to some key priorities for policy and programs to prevent this violence.

    Which men use partner violence?

    Young men (aged 18–24) reported the lowest rates of using violence towards an intimate partner.

    As the report notes, this is not surprising, as younger men will have had less time in intimate relationships.

    Importantly, the use of intimate partner violence increased over time for all age groups between the two surveys.

    This suggests previously non-violent men can still start to use intimate partner violence later in their lives. However, it is worth noting that some men’s understanding and willingness to disclose use of violence may have also improved since the earlier survey.

    A crucial result of the Ten to Men report is that men’s use of violence does not differ meaningfully according to demographic background.

    It didn’t matter whether men were from culturally or linguistically diverse backgrounds, whether they had high or low incomes, whether they lived in cities or regions, and whether they were heterosexual or not. The overall rate of using intimate partner violence was the same.

    This is a highly important finding as it shows us that we cannot assume intimate partner violence is more or less likely among particular regions, classes, sexualities or cultures.

    What factors contributed to violence?

    Perhaps the most important findings from the report are the crucial roles mental health, social connections, and positive relationships with fathers and father-like figures, play in men’s risk of using partner violence.

    While much research has shown that mental health is linked with men’s likelihood of using violence, this study goes further. Because it surveyed men at different points in time, it can tell us that men who were depressed or experiencing suicidal thoughts in the earlier survey (2013), were more likely to report the onset of using partner violence in the later survey (2022).

    This was not the case for men with other mental health concerns, such as anxiety diagnoses, nor for measures of men’s overall life satisfaction.

    Another important trend was found for social supports and connection. Those men who described feeling that they had social support around them “all of the time” in the earlier survey, were less likely to have started using intimate partner violence by the time of the later survey.

    Receiving affection from a father or father-like figure when growing up was also associated with significantly less risk of using partner violence in later life.

    This finding is of particular relevance to our national policies and programs that are aiming for generational change to prevent partner violence.

    Where to from here?

    The findings of the Ten to Men report really point to a need for violence prevention and early intervention with men at different points in their life.

    For example, programs that support men’s parenting and positive father-child emotional connection not only have a role to play in violence prevention, but are known to have beneficial outcomes for children’s development more generally.

    Part of these programs often involves breaking down traditional and rigid ideas about gender roles that place more responsibility for emotional caregiving with mothers than with fathers.

    Supporting men’s mental wellbeing is also crucial. Research has long shown many men experience barriers to seeking help and support for mental health, partly due to expectations of men as needing to be “tough”, “independent” and “resilient”. These expectations can cause shame and fear in turning to others for support.

    Programs such as The Man Box have further shown how such rigid gender expectations can have a negative impact on men and boys’ mental wellbeing, as well as their risk for using violence.



    Read more:
    Aggressive? Homophobic? Stoic? Here’s what thousands of Australian men told us about modern masculinity

    We need to continue to break down the barriers to men’s access to mental health and wellbeing supports. Yet the Ten to Men findings also suggest knowledge of how to identify and work with people using violence, or at risk of using violence, may be especially important among health and mental health practitioners.

    Much of our policy addressing intimate partner violence talks about accountability and improving responses to men’s use of violence. And it is urgent that we respond to – and not make excuses for – men’s use of violence.

    But there is a lot more we could be doing to work with men throughout their lives before they use violence.

    Supporting men’s positive parenting relationships, breaking down rigid gender expectations, encouraging men to connect socially and seek support, as well as identifying men at risk, all have a role to play in ending partner violence.

    Anastasia Powell receives funding from the Australian Research Council. Anastasia is also a director of Our Watch (Australia’s national organisation for the prevention of violence against women), and a member of the National Women’s Safety Alliance (NWSA). Anastasia teaches family violence specialist casework in the Graduate Certificate in Domestic & Family Violence at RMIT University.

    – ref. 1 in 3 men report using intimate partner violence. Here’s how we can better protect women – and help men – https://theconversation.com/1-in-3-men-report-using-intimate-partner-violence-heres-how-we-can-better-protect-women-and-help-men-258058

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Pre-filling 2022–24

    Source: New places to play in Gungahlin

    Available pre-filling reports

    The pre-filling report is available through:

    • Online services for agents
    • Practitioner lodgment service (PLS) – the PLS pre-filling report will return the same data as the Online services for agents pre-filling report in 2022, with some exceptions. MyDeductions is included in PLS.

    For prior year pre-filling reports and more information, refer to:

    The following data will be available in the pre-filling report if there is information for your client.

    Taxpayer details

    We will provide the following information from our records:

    • name
    • Australian residency (at the report creation date)
    • postal and residential address
    • date of birth.

    PAYG payment summaries and STP income statements

    We will provide information from all original and amended PAYG payment summaries and Single Touch Payroll income statements as they are reported to us by employers and super funds. We generally make this information available within a couple of days of receiving it.

    Single Touch Payroll (STP)

    • The employer payment information will be available in ATO Online services after each pay event. STP provides an income statement in your client’s ATO Online services at the end of the financial year.
    • Generally, STP reporters must make a finalisation declaration by 14 July each year, except
      • if the employer has 20 or more employees, the finalisation due date for closely held payees is 30 September each year
      • if the employer has 19 or fewer employees and they are all closely held payees, the finalisation due date will be their income tax return due date
      • if the employer has 19 or fewer employees and they are a mixture of both closely held payees and arms-length employees, the finalisation due date is
        • 30 September each year for closely held payees
        • 14 July each year for arm’s length employees.

    You should wait until the income statement is finalised before completing your client’s tax return.

    STP will pre-fill:

    • from 1 July 2019 – for small employers with 19 or less employees
    • from 1 July 2018 – for large employers with 20 or more employees.

    The pre-filling service will include:

    • ‘Unfinalised’ data – being year-to-date payment data reported by the payer but the payer has not yet ‘finalised’ the data via STP
    • a new status – to identify the data as ‘Unfinalised’ or ‘Finalised’
    • a message where ‘Unfinalised’.

    STP reports only the following income statement types:

    • individual non-business – only income types of ‘S’ and ‘H’
    • employment termination
    • foreign employment
    • business and personal services income – types VOL, LAB, and OTH.

    Individual non-business

    We will provide the following details if reported:

    • payer details and income type (S – salary, P – pension, H – working holiday makers)
    • item 1 – salary or wages (including paid parental leave)
    • item 2 – allowances, earnings, tips, director’s fees, etc
    • item 3 – lump sum payments
    • item 5 – Australian Government allowances and payments
    • item 6 – Australian Government pensions and allowances
    • item 7 – Australian annuities and superannuation income streams
    • item 20 – foreign source income
    • item 24 – other income, including lump sum E payments
    • item D5 – union or professional association fees
    • item D9 – workplace giving
    • item IT1 – reportable fringe benefits (FBT exempt payer)
    • item IT1 – reportable fringe benefits (FBT non-exempt payer)
    • item IT2 – reportable employer superannuation contributions.

    Employment termination payment

    We will provide the following detail if reported:

    • item 4 – employment termination payments
    • employment termination payment code.

    Australian annuities and superannuation income stream

    We will provide the following details if reported:

    • item 7 – Australian annuities and superannuation income streams
    • item T2 – Australian superannuation income stream
    • lump sum in arrears information
    • taxable components – taxed and untaxed
    • reversionary income stream indicator
    • transfer balance cap messaging.

    Superannuation lump sum

    We will provide the following detail if reported:

    • item 8 – Australian superannuation lump sum payments
    • taxable component – taxed and untaxed elements
    • death benefit and code.

    Business and personal services income

    We will provide the following detail if reported:

    • item 9 – attributed personal services income
    • details of payments made under voluntary agreements, labour hire and other specified payments will display as information only. Check with your client and declare this income for the appropriate item (14 or 15) on the tax return
    • item IT2 – Reportable employer super contributions report.

    Foreign employment

    We will provide the following detail if reported:

    • payment type code
      • J – joint petroleum development area
      • F – foreign employment income
    • lump sum information.

    Government payments

    We will provide information within a couple of days of receiving it from:

    • Centrelink – Services Australia
    • Department of Veterans’ Affairs (DVA)
    • Department of Education, Skills and Employment (DESE).

    This information consists of:

    • taxable payments, including pensions and allowances
    • tax-free government pensions.

    The information provided includes details for:

    • item 1 – salary or wages
    • item 5 – Australian Government allowances and payments
    • item 6 – Australian Government pensions and allowances
    • item 24 – other income
    • item IT3 – tax-free government pensions
    • remote area allowance paid (information for zone tax offset calculations).

    Informative messaging will display where payments have been reported for the following payment types:

    • Parental leave pay (PPL)
    • Dad and partner pay (DAP).

    The JobSeeker Payment (JSP) commenced from 20 March 2020. Newstart Allowance recipients and some Wife Pension recipients were transitioned onto it. Sickness Allowance recipients were transitioned onto JSP from 20 September 2020.

    Changes for 2024

    High-certainty government payments data

    Our pre-fill service now provides greater certainty for your government payment data. When you access your client’s pre-fill information, you’ll see an indicator when the payment record is high-certainty data. This indicator will appear in both the Online services for agents pre-filling report and the PLS pre-fill service.

    From 1 July 2024, a certainty indicator will be pre-filled for government allowance and pension payment types that are to be reported at Items 5 or 6 in their tax return.

    In PLS, if you want to change the government allowance or pension data, or the tax withheld being reported at items 5 or 6, where a high-certainty indicator is present, you’ll need to provide a reason for the change. If the reasons we provide don’t apply to your client’s situation, select ‘Other’ and provide details.

    Valid reasons you can choose from are:

    • Unknown amount = This amount doesn’t belong to me
    • Repaid amount = Incorrect amount reported – part or full amount repaid
    • Payment summary = Incorrect amount reported – payment summary has different amounts
    • Other = Other (Specify why).

    These high-certainty indicators won’t be included on government data records for clients or situations where we know there’s a likely reason for exclusion, such as a client who has a record of bankruptcy. In these situations, you can still alter the government benefit data without providing a reason.

    ATO interest

    We will provide interest amounts from all client accounts held by individual taxpayers in our integrated core processing system including income tax, fringe benefits tax and integrated client account (ICA).

    Assessable interest amounts we pay will display at item 10L – Gross interest, and will include:

    • interest on early payments (IEP)
    • interest on overpayments (IOO)
    • delayed refund interest (DRI).

    The total net ATO interest amount at either item 24X or D10N as follows:

    • A total net assessable interest income amount will display at item 24X Other income – Category 2 (ATO interest), and will include remitted or reimbursed
      • general interest charge (GIC)
      • shortfall interest charge (SIC)
      • late payment interest (LPI).
    • A total net deductible interest expense amount will display at item D10N Cost of managing tax affairs – Interest charged by the ATO, and will include imposed
      • GIC
      • SIC
      • LPI.

    From 1 July 2015, we introduced a new way of capturing and reporting pre-fill information for ATO interest. If you choose not to rely on our pre-fill information you will need to manually calculate the interest amounts using your client’s statement of account. For help, refer to Calculate and report ATO interest.

    ATO interest – recurring data issues

    In some circumstances, we may not provide pre-fill data but will display a message that the client has interest. In this case, you will need to manually calculate the deductions or income amounts, using either reporting method.

    In addition, pre-fill reports may not capture your clients’ specific circumstances and you may need to adjust the interest amounts reported.

    From 2019 a new message will display with a link to Recurring data issues – calculating ATO interest to provide information on when adjustments may need to be made for:

    • recoupments of interest charged
    • change in residency status
    • movement of transactions across the ICA.

    Interest income

    Information reported to us by financial institutions and private companies is available for pre-filling at item 10 – Gross interest.

    Information is generally available within a couple of days of being reported and consists of:

    • interest-bearing accounts, including savings accounts, term deposits and fixed interest securities
    • interest distributed by private companies
    • individual sole and joint accounts – for example
      • husband and wife joint accounts will be displayed
      • business partnership, trust, and superannuation accounts will not be displayed
    • a message displayed where all interest income may not have been reported in the previous year.

    Apportioned amounts are calculated according to the number of investment owners reported by the financial institution.

    There may be instances where the interest from children’s bank accounts is pre-filled for the parent.

    You may also notice an amount of investment income that belongs to a linked non-individual, such as a superannuation or trust fund.

    Changes for 2022

    High-certainty interest data

    Our pre-fill service now provides greater certainty for your client’s bank interest. When you access your client’s pre-fill information, you’ll see an indicator when the interest record is high-certainty data. This indicator will appear in both the Online services for agents pre-filling report and the PLS pre-fill service.

    In PLS, if you want to change any bank interest pre-fill information where there is a high-certainty indicator, you’ll need to provide a reason for the change. If the reasons we provide don’t apply to your client’s situation, select ‘Other’ and provide details.

    Valid reasons you can choose from are:

    • Child account = Child or minor’s account
    • Joint account partner = Joint account with my spouse/partner
    • Joint account individual = Joint account with another person
    • Joint account non-individual = Joint account with a non-individual entity, for example a company
    • Unknown amount = This amount doesn’t belong to me
    • Duplicate amount = This amount is duplicated
    • Previously declared = Interest was declared in another income year
    • Incorrect amount = Incorrect amount reported by bank/financial institution
    • Family law agreement = Family law agreement
    • Other = Other (Specify why).

    These high-certainty indicators won’t be included on bank interest records for clients or situations where we know there’s a likely reason for exclusion, such as a client who has a record of bankruptcy. In these situations, you can still alter the interest income without providing a reason.

    This enhanced pre-fill solution benefits you by:

    • allowing you to alter incorrect information in channel to minimise the impact of incorrect data, resulting in a more timely and simplified process
    • enhancing the client experience by avoiding processing delays and improving the simplification of tax return process
    • allowing for quicker processing once the return is lodged
    • creating more certainty for you and your clients.

    These new indicators also help by reducing the likely amount of pre-issue and post-issue compliance work.

    Changes for 2023

    High-certainty interest data

    In PLS, if you want to change any bank interest pre-fill information where there is a high-certainty indicator, you’ll need to provide a reason for the change.

    The additional valid reason you can choose from for 2023 is:

    • Foreign Resident = Foreign Resident.

    Changes for 2024

    High-certainty interest data

    From 1 July 2024, bank interest data for joint account holders will now appear with a ‘certainty indicator’. This is because the ATO has high confidence in the data that has been supplied by your client’s financial institution.

    For more information, see:

    Dividend and interest schedule

    Dividend and interest information reported by companies through the company tax return is available for pre-filling at item 10 – Gross interest and item 11 – Dividends.

    Information is generally available within a couple of days of being reported.

    Apportioned amounts are calculated according to the number of investment owners reported by the financial institution.

    Dividend income

    Information reported to us by share registries, private companies and most listed public corporations is available for pre-filling at item 11 – Dividends.

    Apportioned amounts are calculated according to the number of investment owners reported by the financial institution.

    Information is generally available within a couple of days of being reported, and consists of:

    • investment accounts that are issuer or Clearing House Electronic Subregister System (CHESS) sponsored
    • dividends paid by private companies
    • individual sole and joint accounts – for example
      • husband and wife joint accounts will be displayed
      • business partnership, trust, and superannuation accounts will not be displayed
    • listed investment company capital gain deduction (shown at item D8)
    • a message displayed where all dividend income may not have been reported in the previous year.

    Employee share schemes

    We will provide details of your client’s employee share scheme (ESS) interests as reported by employers and other payers on the ESS annual report.

    From 2018, new and amended ESS data reported for 2015 and prior years will not be updated in pre-fill. New and amended ESS data reported for 2016 and later years will continue to be updated in pre-fill.

    Information is generally available within a couple of days of being reported and consists of:

    • employer’s name and Australian business number (ABN)
    • shareholder registration number (SRN) or holder identification number (HIN)
    • plan reference number
    • discount from taxed upfront schemes – eligible for reduction (12D)
    • discount from taxed upfront schemes – not eligible for reduction (12E)
    • discount from deferral schemes (12F)
    • TFN amounts withheld from discounts (12C).

    A message will display when amounts either:

    • have been adjusted to exclude foreign service period
    • have not been adjusted to exclude foreign service period.

    Changes for 2023

    From 1 July 2022 cessation of employment is no longer a deferred taxing point.

    Managed funds distributions

    Managed investment funds and attribution managed investment trusts (AMIT) will provide income details as reported in the Annual investment income report (AIIR).

    Information is generally available within a couple of days of being reported and consists of:

    • item 13 – partnerships and trusts
    • item 18 – capital gains
    • item 19 – foreign entities
    • item 20 – foreign source income and foreign assets or property.

    You will be able to view details of:

    • a list of managed fund accounts
    • sole and joint investments (as an individual) – for example husband and wife joint investments will be displayed.

    Apportioned amounts are calculated according to the number of investment owners reported by the financial institution.

    If the pre-filled information doesn’t match your client’s distribution statement, use the information the fund manager provided to your client. Contact the managed fund if you have any questions.

    For more information, see Recurring data issues – managed fund data reporting discrepancies.

    Partnership distributions

    Statement of distribution information reported by partnerships through the partnership tax return will be available for pre-filling in the partner’s individual tax return.

    Information will generally be available within a couple of days of it being reported and consists of:

    • item 13 – partnerships and trusts
    • item 20 – foreign source income and foreign assets or property
    • item T9 – other refundable tax offsets (share of exploration credits)
    • item IT5 – net financial investment loss
    • item IT6 – net rental property loss.

    You will be able to view details of partnerships.

    If the pre-filled information doesn’t match your client’s statement of distributions, use the information the partnership provided to your client – contact the partner who notices are sent to if you have any questions.

    Foreign source investment income

    Foreign source investment income reported to us by financial institutions and private companies will be available for pre-filling at item 20 – Foreign source income and foreign assets or property.

    Information will generally be available within a couple of days of it being reported.

    Apportioned amounts are calculated according to the number of investment owners reported by the financial institution.

    Informative messaging will display where foreign income from foreign sources have been reported.

    Cryptocurrency disposal

    Informative messaging will display where individual taxpayers who may have disposed of cryptocurrency asset during the financial year.

    Informative messaging will display where an individual taxpayer has a novated lease during the financial year.

    Share and unit disposals

    Details of share disposals are provided to remind taxpayers about possible capital gains tax events and will contain the:

    • issuer name or name of investment
    • investment code
    • HIN or SRN
    • date of disposal
    • number of shares or units sold
    • number of investors
    • capital proceeds (where available)
    • original (O) or amended (A) data indicator.

    The following types of transactions will be included:

    • PRF – preference shares
    • ORD – ordinary shares
    • CDI – CHESS – depository interest transactions
    • share buybacks – messaging where your client participated in a share buyback that may have resulted in a capital gains tax event.

    Where more data exists, a message will be displayed with instructions on how to access the additional information in Online services for agents.

    Changes for 2022

    Informative message will display regarding to brokerage fee.

    Property transfers

    Details of property transfers are provided to remind taxpayers about possible capital gains tax events and will contain:

    • messaging where your client may have transferred a property resulting in a capital gains tax event
    • property address
    • contract date
    • settlement date
    • sale price.

    We are able to display a maximum of 5 property transfers only.

    Changes for 2023

    New informative messaging for disposal of property used to provide affordable housing.

    Business transactions

    Data about payments received through an electronic payment system will be pre-filled from 2019 as information only. Electronic payment systems can include BPAY®, PayPal, credit card facilities and others.

    Data displayed will include:

    • provider name
    • net annual payments
    • transaction currency
    • more data exists indicator (maximum of 25 records can be displayed).

    Taxable payments

    We will pre-fill payment and grant information reported to us in the Taxable payments annual report by:

    • businesses in the building and construction industry
    • government entities
    • cleaners and courier services from 2019
    • road freight services, security, investigation, surveillance or IT services from 2020.

    Contractor payments

    Contractor payment information reported to us in the Taxable payments annual report (TPAR) will be pre-filled.

    Where a contractor has received payments for services from multiple businesses or government entities (or both), the information will be available as reports are received and processed. It may take some time for all this information to be reported.

    Only high-quality data will be pre-filled, but all data may be used for compliance purposes at a later time. Amounts invoiced but not actually paid to the contractor in the financial year are not included in this year’s information. Contractors should check their own records to ensure all income is included in their tax returns.

    The contractor payment information will not be mapped to a specific label – it will be provided in a summary.

    As with other pre-filled items, information will only be available for individual contractors – it will not be available for contractors that operate as companies, trusts or partnerships.

    The contractor payment information will include:

    • payer name
    • payer ABN
    • date available for pre-filling
    • type – (original or amended)
    • gross amount paid
    • GST
    • tax withheld.

    Note:

    • the gross amount includes GST, if it has been charged
    • amounts invoiced but not actually paid in the financial year, are not included.

    Government grants

    Government grant information reported to us in the Taxable payments annual report (TPAR) will be pre-filled.

    Government grant information will not be mapped to a specific label – it will be provided in a summary. Consider the nature of the grant to determine if it should be included as income in your client’s tax return.

    Certain government grants are potentially treated as non-assessable, non-exempt income for the grant recipient. Informative messaging will display where a government grant has been reported as potentially non-assessable, non-exempt income. Refer to Non-assessable non-exempt government grants.

    Government grant information will include:

    • payer name
    • payer ABN
    • name of grant or grant program
    • date of grant payment
    • gross amount paid
    • GST
    • date available for pre-filling
    • type (original or amended).

    Note:

    • gross amount paid includes GST, if it has been charged
    • report may not include all government grants paid
    • nature of the grant must be considered before including it in the tax return.

    For more information see Payments government entities need to report in their TPAR.

    Net farm management deposits or repayments

    Information is reported by financial institutions and will include:

    • company name
    • investment reference number
    • account name
    • details of deposits, repayments, transfers in and transfers out
    • interest offset account
    • date available for pre-filling
    • amount of closing balance.

    If the pre-fill data provided do not match your client’s records, you should use the information provided by the client.

    Tax offsets

    A reminder message will be displayed when your client may be eligible for item T1 –seniors and pensioners tax offset (SAPTO) because they either:

    • were in receipt of a qualifying Australian Government pension or allowance (declared at label 6 in the tax return)
    • were not in receipt of an Australian Government pension or allowance (declared at label 6 in the income tax return) however they both
      • satisfy the age requirement for the Centrelink age pension, as at 30 June of the current financial year
      • were eligible for an Australian Government age pension.

    The following items will be displayed:

    • Australian superannuation income stream – item T2
    • remote area allowance (used in zone offset calculations at T4)
    • early stage venture capital limited partnership – current year tax offset for managed funds at item T7K
    • early stage venture capital limited partnership (ESVCLP) – tax offset amount carried forward from previous year at item T7M
    • early stage investor – current year tax offset for managed funds at item T8L
    • early stage investor – tax offset amount carried forward from previous year at item T8O
    • the total exploration credits reported by private companies and managed funds will be displayed at item T9.

    Medicare levy surcharge (MLS)

    We will provide details reported to us by health funds to help you confirm that your client held an adequate level of private patient health insurance.

    Information will be processed using our enterprise systems and will be updated throughout the week, for the current financial year and the previous financial year only. No updates will occur on weekends.

    Information will include:

    • health insurer ID and name
    • membership number
    • start and end date of the policy.

    From 2020 a new message will display with a link to Medicare levy surcharge (MLS) information. MLS is to be determined by the agent completing the return. In respect of whether the client has private patient hospital cover or not for the full year, the tax agent will need to calculate the number of days based on the MLS start and end dates provided. They will first need to check if the client’s dependants, including their spouse (if any), also had an appropriate level of private patient hospital cover for the income year.

    If private health insurance policy details have pre-filled, but there is no MLS information pre-filled, it means there was no private patient hospital cover for that policy, for that year, from that fund. The client may have had ancillary cover only. If there are start and end dates within the relevant financial year, then the policy provided private patient hospital cover between (inclusive) the dates specified.

    If the client has private health insurance (PHI) and the MLS details or PHI policy details (or both) and are not yet available when you request the pre-fill information, you will need to use the details provided in your private health insurance statement from your client’s fund or funds.

    From 2019, health insurers are not required to send private health insurance statements to clients, unless requested. You will need to contact the health fund for a statement.

    Private health insurance (PHI) policy details

    From 2019, health insurers are no longer required to send a private health insurance statement to their clients, unless their client requests one.

    Information will be processed using our enterprise systems and will be updated throughout the week, for the current financial year and the previous financial year only. No updates will occur on weekends.

    All rebate percentages are adjusted annually on 1 April.

    This means your client’s rebate percentage for premiums paid before 1 April will be different to the rebate percentage for premiums paid on or after 1 April. The benefit codes distinguish which period the data relates to.

    Information will include:

    • health insurer ID and name
    • membership number
    • premiums eligible for Australian Government rebate
    • Australian Government rebate received
    • benefit code
    • a message and link to more information about private health insurance statement availability.

    For more information, see Private health insurance rebate.

    Early stage innovation company

    The following data will be displayed:

    • company name
    • share issue date
    • amount paid.

    We are able to display a maximum of 20 share disposals only.

    We will display the following data as reported on payment summaries:

    • total reportable fringe benefits amounts – item IT1
    • reportable employer superannuation contributions – item IT2
    • tax-free government pensions – item IT3.

    Ensure compulsory super amounts are not included.

    For more information, see Recurring data issues – reportable employer super contributions on payment summaries or income statements.

    ATO data

    This section includes amounts to help you estimate your client’s refund or debt.

    Help and other income-contingent loans debts

    Information will be displayed for repayable amounts of income- contingent loans for:

    • Higher Education Loan Program (HELP)
    • Vocational Education and Training student loan (VSL) – separated from HELP from 2020
    • Student Financial Supplement Scheme (SFSS)
    • Trade Support Loan (TSL)
    • Student Start-up Loan (SSL)
    • ABSTUDY Student Start-up Loan (ABSTUDY SSL).

    The repayable balance provided by pre-filling may be different to your client’s account balance. The repayable balance does not include new debts until they become repayable. There is a lead time between when the debt is incurred and when it becomes repayable.

    Indexation is applied to repayable amounts each year on 1 June.

    For 2022, the pre-fill amount displayed includes the repayable balance at 1 June 2022, less any repayments made after that date.

    Where the pre-fill request is made between:

    • 1 January and 31 May of the current year – the repayable balance will only include debts incurred up to (but not including) 1 January of the previous calendar year
    • 1 June and 31 December of the current year – the repayable balance will only include debts incurred up to (but not including) 1 January of the current calendar year.

    Changes for 2024

    Trade Support Loan was renamed as the Australian Apprenticeship Support Loan (AASL) on 1 January 2024. The change was fully implemented on 1 January 2025.

    Prior year amounts

    If the pre-fill request is for an outstanding prior year return, the repayable amount is shown as at the date the pre-fill request is made. This means if a pre-fill request is made for a prior year return, the current repayable loan balance is shown and will be the repayable amount regardless of the income year of the return.

    PAYG instalments

    The total amount displayed represents the calculated liability regardless of payment.

    Accumulative low-rate cap

    Information will include:

    • accumulative low-rate cap amount
    • year
    • low-rate cap used
    • messaging where client has exceeded the low-rate cap.

    Income averaging for primary producers and special professionals

    We will display the following amounts for:

    • primary producers – basic taxable income amounts by year
    • special professionals – taxable professional income amounts by year
    • new message to manually calculate average taxable professional income for foreign residents.

    Overdue income tax returns

    An overdue income tax returns advisory message will display the year-specific outstanding tax returns in the 3 years immediately prior.

    Personal superannuation contribution deductions

    Information will include:

    • total superannuation contributions claimed on notice of intent (NOI)
    • provider name
    • provider ABN
    • member account number
    • indication of fund NOI receipt and acknowledgment.

    Changes for 2023

    New informative messaging on work test requirements for taxpayers claiming the PSCD who are between 67 and 75 years old.

    First home super saver scheme (FHSS)

    Information will include:

    • total assessable FHSS released amounts – item 24R
    • total tax withheld – assessable FHSS released amounts – item 24S.

    Prior-year tax return details

    This data is provided by our systems from the previous year’s tax return:

    • occupation description and code (not available in PLS)
    • sources of supplementary income reported (not available in PLS)
    • rental property address and date first earned income
    • net capital losses carried forward to later income years
    • business income and expenses – closing stock
      • total closing stock amount
      • subtotals for primary and non-primary production amounts (not available in PLS)
      • valuation method type – C cost, M market selling value or R replacement value (not available in PLS)
    • deductions reported (not available in PLS)
      • includes a message where work-related expenses were high compared to clients in the same occupation with similar income (now also available in PLS)
      • cost of managing tax affairs amount will display as split components D10N, D10L and D10M for 2020
    • dependents
      • number of dependent children and students for Medicare (M1)
      • number of dependent children for Income test IT8 – (available in PLS)
    • spouse details – name and date of birth (not available in PLS).

    A new message refers to Online services for agents, lodgment history, to view all labels completed in your client’s prior year income tax return.

    Current data issues

    Check for current data issue with pre-filing data.

    Resolving discrepancies

    Discrepancies between the information sent to your clients and the information reported to us for pre-filling need to be resolved with the data provider before you lodge your client’s return.

    If you are unable to resolve the discrepancy or have notification that an income or account does not belong to your client, we prefer you to contact us in Online services for agents. To send a new message:

    • from the Agent home page, select Communication, then Practice mail, or from Client summary, select Profile, then New messages
    • select New message
    • select the topic Income tax
    • select the subject Pre-filled tax return data incorrect
    • complete the required fields and attach the relevant form if required
    • select the Declaration, then select Send
    • select Print friendly version to print or save a copy.

    You’ll receive an ATO receipt ID when the message has successfully been sent. You’ll need to quote this number to us when enquiring about the request.

    MIL OSI News –

  • MIL-OSI USA: Attorney General Bonta Issues Statement on Ongoing Tariffs Lawsuit: California Will Keep Fighting on All Fronts

    Source: US State of California

    Monday, June 2, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND — California Attorney General Bonta today issued a statement after a judge granted California’s request for dismissal to allow it to appeal its case challenging the Trump Administration’s illegal tariffs following a hearing last week. The hearing centered around the Trump Administration’s motion asking that the case be transferred to the Court of International Trade — a motion that California opposed. Rather than transferring the case to the Court of International Trade, California asked the judge to dismiss the case for the purpose of seeking appellate review of the question about where this case should be brought. The dismissal today keeps the case in California and allows California to appeal to the Ninth Circuit, which it plans to do immediately. 

    “Today, our lawsuit challenging the Trump Administration’s disastrous and illegal tariffs was allowed to remain in California pending our incoming appeal. We strongly believe this case belongs in federal district court and are pleased the court considered our wishes in dismissing this case so we have the opportunity to seek review. Our argument is straightforward: Trump doesn’t have the authority to impose these destructive tariffs — the International Emergency Economic Powers Act simply does not authorize tariffs,” said Attorney General Bonta. “We remain confident in the strength of our case and look forward to continuing to fight for California’s vibrant economy, businesses, workers, and families.”

    On April 16, Attorney General Bonta and Governor Newsom filed a lawsuit challenging President Trump’s unlawful use of power to impose tariffs without the consent of Congress. Attorney General Bonta and Governor Newsom also filed an amicus brief in the Court of International Trade in Oregon v. Trump, a case challenging President Trump’s illegal imposition of tariffs. The tariffs challenged under California’s current lawsuit are projected to cost California consumers $25 billion dollars and result in the loss of over 64,000 jobs. The totality of the Trump Administration’s tariff regime is expected to cost households approximately $40 billion. 

    A copy of the order can be found here. 

    # # #

    MIL OSI USA News –

  • MIL-OSI Australia: Joining the Dots: Exploring Australia’s Economic Links With the World Economy

    Source: Airservices Australia

    Introduction

    I’d like to begin by acknowledging the Traditional Owners of the land on which we meet today, the Yuggera and Turrbal people of Meanjin and pay my respects to Elders past and present.

    And thank you to the Economic Society of Australia [Queensland Branch] for giving me this opportunity to talk to all of you.

    I’m sure many are familiar with the Lenin quote ‘There are decades where nothing happens; and there are weeks where decades happen’. It certainly feels like the last few months fit into the latter category. The broad-based nature of the proposed US tariffs, retaliation from major partners and other policy shifts all have the potential to structurally alter the world economy. As recently discussed by our Deputy Governor Andrew Hauser, what happens overseas matters for the Australian economy and is therefore a key factor in monetary policy settings.

    In the recently released Statement on Monetary Policy (SMP) we outlined our thinking on how recent developments will influence the Australian economy. To help us understand the implications for Australia, we have developed a framework that captures the key transmission channels and combined this with a set of alternative scenarios that flex key assumptions and judgements. Together they underpin our thinking about how this environment will flow through the global economy and how Australia is exposed. The key transmission channels we have identified are:

    • Trade flows between countries are likely to realign, and over time multinational businesses could start moving production to different countries.
    • Households and businesses in the countries that apply tariffs are likely to change what they consume, as some products become relatively more expensive, and as prices change more generally.
    • Until it’s clearer where policy will settle, businesses and households are likely to become (understandably) more cautious, and potentially delay major decisions such as capital investment.
    • Fiscal and monetary policy can respond, potentially helping to offset adverse impacts.
    • Financial markets will respond by repricing all assets including equities, bonds, commodity prices and exchange rates. These moves impact financial conditions, which further impact firms’ and households’ decisions.

    I will now discuss these channels in more detail, including how they are embodied in the scenarios in the May SMP.

    Tariff policy and global trade flows

    Economic theory and evidence suggest that higher global tariffs will put a drag on the global economy. This is true in both the short and long run, though here I’ll focus on the short run as that is what is most relevant for monetary policy.

    For the country imposing them, tariffs are a tax on imports. In the short term, this makes imported goods more expensive and pushes up domestic prices, to the extent the tariff is not offset by lower profit margins in overseas producers and exchange rate adjustments. Higher import prices will mean less imports and shifts in demand towards locally produced products. But it takes time for domestic businesses to invest and expand, and for some products (such as raw materials) it may not be possible for domestic production to fill the gap. This means prices are likely to remain higher in the near term, which will reduce households’ purchasing power and therefore drag on business incentives to invest.

    Collectively, domestic demand in the tariff-imposing country falls, all else equal. If households expect the tariffs to have a sustained effect on economic growth, and so their future incomes, they may also cut back further on spending today. For the countries that are subject to higher tariffs, they will weigh on export demand and in turn their broader economic conditions. Domestic stimulus may offset some of these effects; in the May SMP our baseline scenario assumes that China will support its economy through expansionary fiscal policy. But for both sets of countries, any net weakening in demand growth will spill over to their trading partners.

    Overall weaker global growth would put near-term downward pressure on the prices of globally traded goods. For countries that are not imposing higher tariffs, such as Australia, this could flow into import prices, making products cheaper and lowering inflation. In the current episode, this ‘trade diversion’ channel could be amplified by the nature of the changes, in particular the US authorities’ focus on China. As a lynchpin of the global manufacturing supply chain, Chinese goods represent a large share of imports for many countries (including Australia). With the US market harder to access, Chinese producers could lower their prices and try to redirect their products to other markets.

    But working in the other direction, the broad-based nature of the increase in tariffs and increased use of non-tariff barriers such as export bans could create a new bout of supply chain disruptions. By increasing the cost of intermediate inputs that cross borders, such as commodities, machinery and equipment and components, tariffs could potentially lift the cost of production globally. This could push up consumer prices in all countries, particularly for more complex products, such as cars, whose components are sourced from a wide range of countries.

    Our current baseline scenario assumes that, overall, the weaker global growth environment will moderately dampen prices for tradable goods, all other things equal. That is, we expect weaker demand to outweigh the inflationary impact of any supply chain disruptions. We will be monitoring global trade flows and inflation data closely in the coming months to assess whether this judgement is correct.

    Uncertainty’s drag on economic activity

    Aside from the effects of changes to global trade that I’ve talked about so far, the unpredictability of where tariffs will settle and changes to other policy settings has the potential to create significant uncertainty, both around the nature of the policies themselves as well as their impact. And there is ample research showing that higher uncertainty can lead to declines in investment, output and employment.

    Typically, higher uncertainty leads firms to delay decisions that are costly to reverse, like investment and hiring. This makes sense intuitively, because there is value in waiting to see how things are playing out before making a decision that is (at least partially) non-reversable – something often referred to as ‘real options’ value. These ideas are borne out in the historical data. Research suggests that the negative impacts of higher policy uncertainty – including trade policy – are largest for businesses, as they typically pull back on investment. Some studies find higher uncertainty also has a measurable impact on household consumption, but this is typically more modest.

    Uncertainty is a bit of a slippery concept and there are lots of different ways of trying to measure it, but the graph below shows two (Graph 1). One – the global economic policy uncertainty index – is based on the number of news articles that talk about policy uncertainty. The other – the VIX – is a measure capturing how uncertain markets are about near-term equity prices. Both show a sharp rise in uncertainty recently, though the VIX index has declined in recent weeks.

    If we see businesses and households respond as they have in the past, then the current level of uncertainty will weigh materially on global activity. But the unpredictability and unprecedented nature of the current situation makes it hard to be precise on the size of the impact. In the SMP we have tackled this by using alternative scenarios that capture smaller and larger responses to uncertainty. The baseline scenario assumes a relatively modest drag, the trade peace scenario no significant drag, and the trade war scenario a substantial pull back in activity. Going forward we will be monitoring carefully which assumption is closest to how things unfold.

    Financial markets’ response

    This brings us neatly to financial markets. Movements in global asset prices after the United States announced its tariffs on April 2 capture how financial market participants initially evaluated their likely impact, and these movements broadly aligned with the channels I’ve already discussed. Equity prices declined sharply – particularly in the United States – at least in part reflecting expectations for the direct impact of the tariffs and the indirect impact via slower economic growth on company earnings. Expectations of lower future growth also meant that expectations for future central bank policy rates declined, which flowed through to bond yields (Graph 2).

    At the same time, increased uncertainty and risk led investors to require larger risk premia to hold risky assets. This was reflected in increased spreads on corporate bonds, and some increases in equity risk premia that put further downward pressure on equity prices (Graph 3). In other words, investors wanted more compensation for holding riskier assets.

    Some of these movements unwound in the following weeks after pauses in implementation of some tariffs. As of 30 May, financial market participants appear to be pricing in some downside risk to global growth, but they are no longer pricing in a material economic downturn. Consistent with this, expectations for central bank rate cuts have also been pared back.

    Still, there remains a risk that further changes to tariffs or other policy settings, or actual economic outcomes prompt financial markets to downgrade the outlook, which leads risky asset prices to fall sharply. If this were to occur, it would lead to a more sustained tightening in financial conditions, which would make it more expensive for businesses in particular to borrow or raise funds for investment. This outcome is embodied in the trade war downside scenario we presented in the May SMP and is a significant amplifier of the initial shock generated by the sharp hike in tariffs.

    Exchange rates

    One financial market that deserves some deeper discussion is the exchange rate. When the outlook for global growth weakens, the Australian dollar typically depreciates (falls in value) as investors expect our economy to be buffeted by the global headwinds and the RBA to respond with cuts to the cash rate. This makes our exports cheaper in foreign currency terms, which offsets some of the effect of weaker global demand.

    An additional driver of the Australian dollar in times of uncertainty is its status as a ‘risk-sensitive’ currency. When global investors are worried, they tend to focus on reducing risk exposure, moving their capital to low-risk assets in countries like the United States, Switzerland and Japan. This means the Australian dollar tends to lose value against these currencies, over and above the depreciation linked to weaker growth and expected cuts in the cash rate. This dynamic partly explains the movements during the global financial crisis (GFC) when the Australian dollar declined very sharply, even though the Australian economy was much less exposed to the global downturn (Graph 4).

    While the initial response of the Australian dollar during the current episode was in line with historical experience, the recent recovery against the US dollar in particular has been more unusual (Graph 5). The exchange rate has been volatile over recent months, but on a trade weighted basis is overall little changed in response to global events. It has appreciated against the US dollar (and therefore also the Chinese renminbi and other currencies pegged to the US dollar) but depreciated against most other major currencies.

    This appears to reflect some offsetting factors. Concerns about the growth outlook and related ‘risk-off’ dynamics contributed to the Australian dollar’s depreciation relative to several other currencies. But at the same time some investors have reduced their exposure to US assets, leading to broad US dollar weakness.

    The weakness in the US dollar during a period of heightened risk is in contrast with many previous episodes, though it’s too early to know whether this dynamic will continue. The return of the trade weighted index to its pre-shock value means that, on average, the price of our exports in foreign currency terms hasn’t changed. But the relative move of capital towards Australian assets compared to the United States reflects an increase in capital inflows, which could support domestic investment activity. We’ll be monitoring how these channels play out over time.

    The economy’s exposure to the current episode

    Trade flows linkages

    As previously outlined, when global conditions deteriorate and uncertainty increases Australia’s exports typically benefit from the currency depreciating, as this improves competitiveness. Although this channel may be less pronounced than in other episodes, Australia’s exporters are relatively well-placed to weather the storm.

    The fundamentals underpinning our exports make it likely that in volume terms at least they’ll be less impacted than other countries. Higher US tariffs on Australian exports are unlikely to have a material direct impact as Australian exports to the United States only account for around 1.5 per cent of Australian GDP, a low share compared with other countries (Graph 6).

    Furthermore, the structure and composition of Australia’s exports will potentially provide an additional buffer to export volumes. Resources make up 75 per cent of Australian good exports, and despite the exposure of China and other resource intensive countries to the tariff shock, we might expect export volumes to remain resilient in the short run.

    This is because Australia’s resource export volumes are less sensitive to movements in global demand than other exports as we are a relatively low-cost producer of bulk commodities like iron ore. You can see this on this chart, where most Australian iron ore miners sit on the lower left end of the production cost curve (Graph 7). Short-run declines in commodity prices tend to lead to reduced volumes from other higher cost producers, while Australian producers feel the impact via lower prices and so earnings.

    So far, the current episode has not seen a sharp correction in Australia’s key commodity prices, underpinned by a relatively positive outlook for China. This view assumes that the Chinese authorities will support their economy through fiscal stimulus and is embodied in our baseline scenario, with the downside trade war scenario encapsulating a correction. If this were to occur the income flows from commodity exports would fall significantly.

    By contrast, trade in services, which comprise around 20 per cent of Australian exports to the world, are more responsive to changes in global demand and the exchange rate. We can see this in the below chart, which shows historically how movements of services export volumes have correlated with changes in the real exchange rate, a measure of competitiveness (Graph 8). In the years following the GFC, the appreciation and depreciation in the exchange rate contributed to a decline and then strong rebound in services export volumes.

    Trade in services tends to react more strongly because some exported services tend to be easier to substitute and more discretionary. Travel services, for example tourism, are a key Australian export that might be affected by recent developments. Weaker global growth is likely to dampen demand, but any exchange rate depreciation will make Australia a more attractive destination. Simultaneously, travel service imports (i.e. outward tourism) may decline if the Australian dollar depreciates; holidaying overseas will become more expensive than taking a trip locally.

    Uncertainty dampener on households and businesses

    While key parts of Australia’s export volumes may be relatively resilient to global demand conditions and uncertainty, domestic demand is unlikely to be completely insulated. As discussed earlier, greater uncertainty about the future can lead households and businesses to save instead of spending and investing, and this is likely to be the case for Australian households and businesses too. And increased borrowing costs and risk premia in global financial markets are likely to spill into domestic markets, further weighing on activity.

    Previous research by RBA economist Angus Moore found exactly this. Higher global uncertainty has a large negative effect on Australian business investment, while the negative effect on consumption is more modest (Graph 9). Though the magnitude of these effects is itself very uncertain, this does suggest that global uncertainty may weigh substantially on domestic activity if uncertainty remains elevated. As with all of the other channels, we explore different assumptions for the size of this channel in the scenarios in the May SMP.

    Putting it all together for policy

    So how will the current unpredictable and uncertain global environment transmit through to the Australian economy? The short answer is we can’t be completely sure. The framework I have outlined identifies what we think are the key transmission channels, and we have used scenarios to simulate different alternatives. Within this range, the baseline forecast is for recent global developments to contribute to slower economic growth in Australia and a slightly weaker labour market. We also anticipate that, overall, the price of tradable goods will be slightly dampened. Together, these two outcomes mean that inflation is forecast to be a little lower than at the February SMP, settling around the midpoint of the 2–3 per cent target range.

    This forecast is based on several judgements, and assumptions about the potency of the transmission channels I have discussed today. These include how tariff policies evolve, how fiscal and monetary authorities around the world respond, whether trade diversion reduces the price of imports or global supply chains become heavily disrupted, and how much uncertainty weighs on economic activity.

    By using the framework and scenarios together we have anchored our thinking and cut through some of the uncertainty about the outlook. These were provided to the Monetary Policy Board to help inform their decision-making; taking all the information into account and considering the risks to the outlook, they decided to cut the cash rate by 25 basis points.

    What will happen from here? Going forward, the RBA will continue to monitor domestic and international outcomes and global policy developments. Benchmarking these against the scenarios in the May SMP will help us identify the scenario that best reflects current conditions and the outlook, enabling the Board to adjust policy settings accordingly.

    MIL OSI News –

  • MIL-OSI New Zealand: Government guts WorkSafe

    Source: NZCTU

    The Minister for Workplace Relations and Safety’s announcement today on gutting WorkSafe’s enforcement capability signals a return to a failed approach, that will weaken our health and safety system, said the New Zealand Council of Trade Unions Te Kauae Kaimahi.

    “A soft approach to poor health and safety was a critical failing that led to the Pike River mine disaster, one of the worst health and safety failings in New Zealand history,” said NZCTU President Richard Wagstaff.

    “Brooke van Velden continues to systematically gut WorkSafe to help protect businesses from enforcement of breaches of the law, rather than protecting the workers who suffer huge rates of injury and fatality as a result of work.

    “WorkSafe was established in the wake of the Pike River mine disaster. It was clear that we needed a well-resourced, effective, and strong regulator, that was prepared to prosecute where necessary, as this was clearly lacking.

    “Every week a worker is killed on the job on average in New Zealand, and 17 more are killed from the impact of work-related illnesses and diseases. Every year there are over 30,000 injuries suffered that require more than a week away from work. Nothing in these announcements will have a positive effect on these numbers.

    “In the past few years, WorkSafe has endured cuts to the tune of millions of dollars, resulting in fewer staff. Since it was established the WorkSafe inspectorate has reduced from 8 per 100 thousand employees to 6.5, amongst cuts to the wider WorkSafe staffing levels.

    “The Minister’s decision to gut WorkSafe is a reflection of a government that is prioritising profits over people,” said Wagstaff.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Shaheen, Colleagues Introduce Congressional Stock Trading Ban

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) joined U.S. Senators Mark Kelly (D-AZ) and Jon Ossoff (D-GA) in introducing the Ban Congressional Stock Trading Act, which would require all members of Congress, their spouses and dependent children to place their stocks into a qualified blind trust or divest the holding—ensuring they cannot use inside information to influence stock trades and make a profit.

    “Members of Congress are elected to serve their constituents—not themselves,” said Senator Shaheen. “This common-sense legislation would prevent members of Congress from using their office to enrich themselves and would go a long way in winning back the American people’s trust and confidence in government.”

    The American people overwhelmingly support this policy, with 86% saying they back the measure, including 88% of Democrats, 87% of Republicans and 81% of Independents.

    In addition to Shaheen, Kelly and Ossoff, the bill is also co-sponsored by U.S. Senators Brian Schatz (D-HI), Tammy Duckworth (D-IL), Tammy Baldwin (D-WI), Reverend Raphael Warnock (D-GA) and Michael Bennet (D-CO).

    Click here to read the Ban Congressional Stock Trading Act.

    Shaheen has long been an advocate for government reform and congressional integrity. In April, Shaheen unveiled new legislation that would prevent companies owned or controlled by Special Government Employee (SGE)’s from raking in federal dollars in government contracts and grant payments and prevent the clear conflicts of interests this arrangement could pose. Earlier this year, she reintroduced her Democracy for All Amendment would overturn the Supreme Court’s disastrous Citizens United v. FEC decision and other far-reaching decisions around campaign finance that wrongfully equated money with free speech and unfairly determined that big, wealthy corporations have the same First Amendment rights as people. 

    MIL OSI USA News –

  • MIL-OSI Global: What is retinol? And will it make my acne flare? 3 experts unpack this trendy skincare ingredient

    Source: The Conversation – Global Perspectives – By Laurence Orlando, Senior Lecturer, Product Formulation and Development, Analytical Methods, Monash University

    Irina Kvyatkovskaya/Shutterstock

    Retinol skincare products suddenly seem to be everywhere, promising clear, radiant and “youthful” skin.

    But what’s the science behind these claims? And are there any risks?

    You may have also heard retinol can increase your risk of sunburn and even make acne worse.

    For some people, retinol may help reduce the appearance of fine lines. But it won’t be suitable for everyone. Here’s what you need to know.

    What is retinol?

    Retinol is part of a family of chemical compounds called retinoids. These are derived from or related to Vitamin A, a nutrient essential for healthy skin, vision and immune function.

    All retinoids work because enzymes in our skin convert them into their “active” form, retinoic acid.

    You can buy retinol in creams and other topical products over the counter.

    These are often promoted as “anti-ageing” because retinol can help reduce the appearance of fine lines, wrinkles and even out skin tone (for example, sun spots or acne scars).

    It also has an exfoliating effect, meaning it can help unclog pores.

    Stronger retinoid treatments that target acne will require a prescription because they contain retinoic acid, which is regulated as a drug in the United States, European Union, United Kingdom and Australia.

    How is retinol used in skincare?

    One of the most common claims about retinol is that it helps to reduce visible signs of ageing.

    How does this work?

    With age, the skin’s barrier becomes weaker, making it more prone to dryness, injury and irritation.

    Retinol can help counteract this natural thinning by stimulating the proliferation of keratinocytes – cells that form the outer skin layer and protect against damage and water loss.

    Retinol also stimulates the production of collagen (a key protein that creates a scaffolding that keeps skin firm and elastic) and fibroblasts (cells that produce collagen and support skin structure).

    It also increases how fast the skin sheds old cells and replaces them with new ones.

    Over time, these processes help reduce fine lines, fade dark spots and even out skin tone. It can also make skin appear clearer.

    While effective, this doesn’t happen overnight.

    You may have also heard about a “retinol purge” – a temporary flare of acne when you first start using topical retinoids.

    Studies have found the skin may become irritated and acne temporarily worsen in some cases. But more research needs to be done to understand this link.

    The idea of a retinol purge is popular on social media.
    TikTok, CC BY-NC-ND

    So, is retinol safe?

    At typical skincare concentrations (0.1–0.3%), side effects tend to be mild.

    Most people who experience irritation (such as redness, dryness, or peeling) when starting retinol are able to build tolerance over time. This process is often called “retinisation”.

    However, retinol increases the skin’s sensitivity to UV radiation (known as photosensitivity). This heightened reactivity can lead to sunburn, irritation and an increased risk of hyperpigmentation (spots or patches of darker colour).

    For this reason, daily use of broad-spectrum sunscreen (SPF30 or higher) is strongly recommended while using retinol products.

    Who should avoid retinol?

    Teenagers and children generally don’t need retinol unless specifically prescribed by a doctor, for example, for acne treatment.

    People with sensitive skin or conditions such as eczema (dry, itchy and inflamed skin) and rosacea (chronic redness and sensitivity) may find retinol too irritating.

    Using retinol products alongside other skincare treatments, such as alpha-hydroxy acids, can over-exfoliate your skin and damage it.

    Importantly, the active form of retinol, retinoic acid, is teratogenic (meaning it can cause birth defects). Over-the-counter retinol products are also not recommended during pregnancy or breastfeeding.

    Choose and store retinol products wisely

    Since retinol is classified as a cosmetic ingredient, companies are not required to disclose its concentration in their products.

    The European Union is expected to introduce new regulations that will cap the concentration of retinol in cosmetic facial products to 0.3%.

    These are precautionary measures aimed to limit exposure for vulnerable groups, such as pregnant women, given the risk of birth defects.

    It’s therefore recommended to use products that clearly state the retinol concentration is between 0.1% and 0.3%.

    Retinol is also a notoriously unstable molecule that degrades with exposure to air, light or heat.

    Choosing a product with airtight, light-protective packaging will help with potential degradation problems that could lead to inactivity or harm.

    What’s the safest way to try retinol?

    The key is to go low and slow: a pea-sized amount of a low-concentration product (0.1%) once or twice a week, preferably at night (to avoid UV exposure), and then the frequency and concentration can be increased (to a maximum of 0.3%) as the skin adjusts.

    Using a moisturiser after retinol helps to reduce dryness and irritation.

    Wearing sunscreen every day is a must when using retinol to avoid the photosensitivity.

    If you experience persistent redness, burning, or peeling, it’s better to stop using the product and consult your doctor or a dermatologist for personalised advice.

    Laurence Orlando is affiliated with the Australian Society of Cosmetic Chemists.

    Professor Ademi currently serves as a member of the Economics Sub Committee of the Pharmaceutical Benefits Advisory Committee within the Department of Health, Australia which assesses clinical and economic evaluations of medicines submitted for listing on the PBS. She leads the global economics initiative for the Lp(a) International Task Force and Member of Professional Advisory Board of Familial Hypercholesterolemia (FH) Australia. Zanfina Ademi receives funding from FH Europe Foundation to understand the population screening for LP(a), globally. Received funding from National Health and Medical Research Council, Medical Research Future Fund not in relation to to this work, but work that relates to health economics of prevention and cost-effectiveness.

    Zoe Porter 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. What is retinol? And will it make my acne flare? 3 experts unpack this trendy skincare ingredient – https://theconversation.com/what-is-retinol-and-will-it-make-my-acne-flare-3-experts-unpack-this-trendy-skincare-ingredient-256074

    MIL OSI – Global Reports –

  • MIL-OSI Global: Will surging sea levels kill the Great Barrier Reef? Ancient coral fossils may hold the answer

    Source: The Conversation – Global Perspectives – By Jody Webster, Professor of Marine Geoscience, University of Sydney

    marcobriviophoto.com

    In the 20th century, global sea level rose faster than at any other time in the past 3,000 years. It’s expected to rise even further by 2100, as human-induced climate change intensifies. In fact, some studies predict a rise of up to 1.6 metres and possibly more due to the rapid melting of the Antarctic ice sheets.

    These changes will have huge impacts on coastal ecosystems around the world, including coral reefs. To understand these future impacts, it can be useful to understand similar events from history.

    Our new research, published today in Nature Communications, does just that. It reveals how the Great Barrier Reef in northern Australia responded to a dramatic rise in sea level some 13,000 to 10,000 years ago.

    A hotly debated event

    Several “meltwater pulse events” have been documented in the past. These occur when ice sheets disintegrate in a catastrophic fashion, resulting in a rapid surge in global sea levels.

    One of these events, known as “meltwater pulse 1B”, remains hotly debated. It occurred roughly 11,500 years ago.

    Early evidence from reef cores in Barbados suggested a sharp sea-level rise of approximately 14 metres between 11,450 and 11,100 years ago, with rates of roughly 40 millimetres per year.

    Remarkably, this rate is about ten times faster than the current global rise.

    However, this record conflicts with others, including from Tahiti and now from the Great Barrier Reef, which suggests a more gradual rise in sea levels.

    Learning from geological archives

    Somewhat paradoxically shallow-water reef systems can “drown” because corals, and other reef organisms, depend on light for photosynthesis. If the water gets too deep too fast, the reef will no longer keep up with the rise and it will drown.

    But drowning can also occur due to other factors, such as increased temperature, sediment and nutrients, which can also add extra environmental stress to the reef – again making it more difficult to grow vertically and keep up with sea level rise.

    Cores gathered from drowned fossil coral reefs preserved along the continental shelf edge of the Great Barrier Reef contain crucial information about historic corals, coralline algae and microbial reef structures known as microbialites. They offer a unique geologic time machine to better understand how past periods of rapid global sea level rise affected reef growth.

    These geological archives also provide important clues about how ice sheets behaved in response to rapid global warming.

    In 2010, an expedition of the Integrated Ocean Drilling Program used a geotechnical drill ship to sample below the seafloor and reconstruct the growth and demise of the Great Barrier Reef over the past roughly 30,000 years. Five distinct stages were identified in response to major global climatic and oceanographic disturbances.

    In this new study, we focused on a key reef stage called Reef 4. It formed between 13,000 and 10,000 years ago, just prior to the start of the modern reef as we know it.

    We refer to this reef as the “proto-Great Barrier Reef”. Once a shallow-water barrier reef system, it now exists in a fossilised form at roughly 50 metres water depth and is now the home to deeper reef communtites in the mesophotic zone 30 to 150 metres below the surface.

    The RV Great Ship Maya was used to recover fossil reef samples from the Great Barrier Reef in 2010.
    G.Tulloch/European Consortium for Ocean Research Drilling/Integrated Ocean Drilling Program

    An impressive ability to keep pace

    Our study shows the Great Barrier Reef didn’t drown during meltwater pulse 1B. In fact, it continued to thrive with clear evidence of healthy, shallow-water reef assemblages (living in waters less than ten metres deep) persisting right through the rise in sea levels.

    The reef not only survived but continued to grow upwards at rates between 4–6 millimetres per year. This rate of growth is comparable to modern healthy reef growth rates, demonstrating an impressive ability to keep pace.

    We also calculated that the maximum possible sea-level rise during meltwater pulse 1B was between 7.7 and 10.2 metres over roughly 350 years. This equates to between 23 and 30 millimetres per year, but was likely less.

    This is less than the Barbados estimate, and more consistent with observations from Tahiti where no sharp sea-level jump was found.

    Importantly, this indicates that even the upper sea level rise bounds are within the survival limits of resilient reef systems such as the Great Barrier Reef – especially when environmental stressors, such as ocean warming, ocean acidification and sedimentation are low.

    UNESCO’s World Heritage Committee recently expressed utmost concern about the current state of the Great Barrier Reef.
    Darkydoors/Shutterstock

    Limits to a reef’s resilience

    Although the Great Barrier Reef survived sea level rise roughly 11,000 years ago, the world was very different back then.

    Coral reefs faced less stress from human impacts. And ocean temperatures were rising more slowly.

    But today’s reefs are already struggling, with UNESCO’s World Heritage Committee recently expressing “utmost concern” about the state of the Great Barrier Reef in particular.

    This is due to warming, acidification and pollution. And these additional challenges decrease reefs’ ability to cope with rapid sea-level rise.

    Our findings suggest abrupt sea-level jumps of more than 11 metres are unlikely to occur without major instabilities in ice sheets. The fact that such collapses likely didn’t happen during meltwater pulse 1B offers some reassurance. But we’re in uncharted territory now, particularly with the Antarctic ice sheet displaying early signs of instability.

    Our study also shows the Great Barrier Reef has been remarkably resilient, adapting to changing sea levels and continuing to grow even as the ocean rose rapidly. This resilience, however, had limits. Ultimately, the reef we examined drowned roughly 10,000 years ago, likely due to a combination of environmental stressors, including increased sediment flux. At this time the shallow water reef ecosystem migrated landward to form the modern Great Barrier, leaving behind only deeper, mesophotic reef communities.

    The lessons from the past are clear: reefs can adapt to environmental changes but there are limits.

    Protecting modern reefs will require more than understanding their past. It means reducing emissions and limiting other environmental stresses such as sediment and nutrient runoff where possible.

    Jody Webster receives funding from the Australian Research Council and ANZIC IODP.

    Juan Carlos Braga receives funding from the Australian Research Council and Spanish Government.

    Marc Humblet receives funding from the Japan Society for the Promotion of Science.

    Stewart Fallon receives funding from the Australian Research Council and ANZIC IODP.

    Yusuke Yokoyama receives funding from the Japan Society for the Promotion of Science and Japan Science and Technology Agency.

    – ref. Will surging sea levels kill the Great Barrier Reef? Ancient coral fossils may hold the answer – https://theconversation.com/will-surging-sea-levels-kill-the-great-barrier-reef-ancient-coral-fossils-may-hold-the-answer-257830

    MIL OSI – Global Reports –

  • MIL-OSI New Zealand: Rising dairy prices lift export prices – Stats NZ media and information release: International trade: March 2025 quarter

    Rising dairy prices lift export prices – media release

    3 June 2025

    Export prices rose 7.1 percent in the March 2025 quarter, led by dairy prices, according to figures released by Stats NZ today.

    “Export prices have been increasing since March 2024 and are now 17 percent higher than they were a year ago,” international accounts spokesperson Viki Ward said.

    Prices for dairy products (New Zealand’s top export commodity) rose 10 percent, led by a 13 percent increase in milk powder prices compared with the December 2024 quarter.

    “The increase in dairy prices was shared across all of the major dairy categories,” Ward said.

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

    MIL OSI New Zealand News –

  • MIL-OSI United Kingdom: Bank on the UK in volatile times’ Trade Secretary tells G7 and European businesses

    Source: United Kingdom – Executive Government & Departments

    Press release

    Bank on the UK in volatile times’ Trade Secretary tells G7 and European businesses

    Trade Secretary’s message comes after UK sealed landmark deals with India, the US and EU

    • Jonathan Reynolds to meet G7 and EU counterparts in Paris and Brussels to discuss economic security and global trade.
    • Trade Secretary targets economic growth and jobs, saying deals with India, US and EU make UK the most connected economy for global business.
    • Visit shows how Plan for Change is reducing trade barriers that will boost exports to the EU.

    The UK is a country that counterparts and businesses can bank on in increasingly uncertain and volatile times, Trade Secretary Jonathan Reynolds will tell G7 and EU ministers and commissioners on a three-day visit to Paris and Brussels.

    He will deliver the message at a G7 Trade Ministerial Meeting in Paris before travelling to Brussels for talks with EU counterparts and a speech to business representatives, policymakers, and diplomats at the European Policy Centre’s Economic Security Forum.

    The Trade Secretary’s message comes after the UK sealed landmark deals with India, the US and the European Union, positioning the UK as a global champion of free trade, delivering for British businesses and putting money in the pockets of working people.

    This will be delivered through the expected GDP increase by £4.8 billion thanks to the India deal, nearly £9 billion added to the UK economy by 2040 through the EU deal and the thousands of jobs saved across the country because of the deal with the US.

    He is also expected to meet US Trade Representative Jamieson Greer, India’s Minister of Commerce and Industry Piyush Goyal and EU Commissioner for Trade and Economic Security Maros Šefčovič to progress implementation of the trade deals and ensure businesses feel the benefits as soon as possible.

    Jonathan Reynolds will use the visit to reinforce that Britain is open for business as part of this Government’s Plan for Change to deliver on its core mission to grow the economy, raise living standards and put more money in people’s pockets.

    Ahead of the visit, Business and Trade Secretary Jonathan Reynolds said:

    Our deals with the US, EU and India are proof that the UK is the most connected country in the world to do business. Along with our modern Industrial Strategy, our Plan for Change is making the UK a safe, stable bet in uncertain times.

    We recognise our relationship with G7 allies and EU counterparts must continue to evolve and deliver a better trading environment for our businesses and exporters.

    That’s why we want to wipe away costly, business-blocking barriers and open up opportunities to grow our economy, create jobs and put more money in people’s pockets.

    The Business Secretary will use his visit to call for the UK’s new relationship with the EU to help businesses, and with almost 100,000 UK businesses exporting goods to the EU last year, and the upcoming Trade Strategy, the UK is continuing its work to build on the recent deals and tear down barriers to doing business around the world.

    As part of the trip the Business and Trade Secretary will also discuss the UK’s modern Industrial Strategy being published this Spring in his first ever in person meetings with the European Commission’s Executive Vice-President for the Industrial Strategy Stephane Séjourné and Executive Vice-President for the Clean, Just and Competitive Transition Teresa Ribera.

    The Business and Trade Secretary will also use the visit to hold in-person meetings with Laurent Saint-Martin, Don Farrell and Maninder Sidhu, the Trade Ministers of France, Australia and Canada respectively.

    Updates to this page

    Published 3 June 2025

    MIL OSI United Kingdom –