NewzIntel.com

Category: Trade

  • MIL-OSI Asia-Pac: Hong Kong Customs seizes live turtles of scheduled endangered species (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs yesterday (July 15) detected a smuggling case involving a passenger at the Shenzhen Bay Control Point and seized four live turtles of a scheduled endangered species with an estimated market value of about $40,000. The passenger concerned was convicted and sentenced to two months’ imprisonment at the Tuen Mun Magistrates’ Courts today (July 16) for contravening the Protection of Endangered Species of Animals and Plants Ordinance (Cap. 586) and the Prevention of Cruelty to Animals Ordinance (Cap. 169).

    Customs officers intercepted a 43-year-old female passenger yesterday at the Departure Hall of the Shenzhen Bay Control Point for Customs clearance. Upon examination, four live turtles were found wrapped around the woman’s thighs and covered underneath her long skirt. Officers of the Agriculture, Fisheries and Conservation Department (AFCD) attended the scene for inspection and confirmed that the batch of live turtles was of an endangered species listed in the Convention on International Trade in Endangered Species of Wild Fauna and Flora and regulated under the Protection of Endangered Species of Animals and Plants Ordinance (Cap. 586) in Hong Kong. The case was handed over to the AFCD for follow-up investigation and prosecution. 

    Customs reminds the public not to carry controlled items into and out of Hong Kong.

    According to the Protection of Endangered Species of Animals and Plants Ordinance, any person importing, exporting or possessing specimens of endangered species not in accordance with the Ordinance commits an offence and will be liable to a maximum fine of $10 million and imprisonment for 10 years upon conviction with the specimens forfeited.

    Also, according to the Prevention of Cruelty to Animals Ordinance, any person who, by wantonly or unreasonably doing or omitting to do any act, causes any unnecessary suffering to any animal commits an offence and will be liable to a maximum fine of $200,000 and imprisonment for three years upon conviction.

    Members of the public may report any suspected smuggling activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

    MIL OSI Asia Pacific News –

  • MIL-OSI: HTX Rolls Out Multi-Layered Incentives to Welcome Users Into the Next Frontier in the Golden Age of Stablecoins

    Source: GlobeNewswire (MIL-OSI)

    PANAMA CITY, July 16, 2025 (GLOBE NEWSWIRE) — HTX, a leading global cryptocurrency exchange is launching a series of stablecoin-focused campaigns to accelerate user onboarding and expand stablecoin adoption across its platform, positioning itself at the forefront of a structural evolution in the crypto economy. This move comes as global financial institutions like Mastercard and Morgan Stanley rapidly enter the stablecoin market, following the implementation of Hong Kong’s Stablecoins Bill and the U.S. GENIUS Act. These initiatives aim to leverage favorable global regulatory trends and offer a comprehensive range of rewards, from airdrops to trading bonuses.

    Campaign 1: New Users Exclusive — Draw up to 200 USDT Instantly after Signup

    From July 7, 16:00 to July 24, 15:59 (UTC), new users who register on HTX will receive a free lucky draw chance to win up to 200 USDT. Completing additional tasks, such as initial deposit, spot trade, or futures trade, can unlock further rewards for each new user, totaling up to 700 USDT. Daily spot and futures trading challenges provide even more bonuses. Moreover, completing the exclusive limited-time challenges can net up to 600 USDT.

    *Event details: https://www.htx.com/en-us/welfare/

    Campaign 2: Refer Friends and Share a $100,000 Stablecoin Prize Pool

    Between July 9, 10:00 and July 20, 10:00 (UTC), invite friends to register and trade on HTX, both inviters and their invitees will earn rewards in USD1, USDC, USDT, and more. The more friends you refer, the more you can earn! Upon successful signup and login by your invitee, you’ll receive a Mystery Box worth up to 20 USDT. If your invitee reaches a qualifying trading volume, you’ll snap three additional Mystery Boxes, and your friend will unlock two more. Each box contains rewards worth up to 1,500 USDT. Additionally, you can earn up to a 20% boost on your referral bonus by inviting a certain number of valid invitees, i.e. new users who sign up on HTX using your referral link and reach a cumulative trading volume of ≥10 USDT on designated USD1, USDT, USDC pairs during the event. Each inviter can get up to 600 USDT from the $50,000 prize pool.

    *Event details: https://www.htx.com/support/25006291608056

    Campaign 3: Trade Spot USD Stablecoins and Share $100,000 in Rewards

    From July 10, 10:00 to July 24, 10:00 (UTC), trade eligible stablecoin pairs including BTC/USD1, ETH/USD1, and BTC/USDT to claim your share of a $100,000 prize pool. New users completing trading tasks can win up to 5,000 USDT in token airdrops and Cashback Vouchers. Deposit USD1 to HTX from external wallets and split a $5,000 reward pool based on net deposit volume. In addition, trade specified stablecoin pairs and join the leaderboard for a chance to win up to 12,000 USDT. There is a noteworthy chance to win a Xiaomi YU7 SUV by joining the team trading contest.

    *Event details: https://www.htx.com/support/75006190718889

    As global stablecoin regulations begin to crystallize, these assets are becoming the primary bridge between traditional finance and the decentralized future. HTX is aligning with this macro trend by launching a diversified suite of user incentives designed to lower the entry barrier and enhance capital efficiency across its stablecoin ecosystem.

    Looking ahead, HTX remains committed to compliance-driven innovation and product development. By offering a secure, seamless, and regulated trading environment, the platform aims to empower more users to unlock the full potential of decentralized finance.

    About HTX

    Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

    As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

    To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord. For further inquiries, please contact glo-media@htx-inc.com.

    Disclaimer: This content is provided by HTX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/153a3609-b8ef-4dae-97f9-070912172f1b

    The MIL Network –

  • MIL-OSI Economics: Sanction Update (1)

    Source: Isle of Man

    Financial Sanctions: Haiti

     

    The Authority has been notified that the Isle of Man Treasury, Customs and Immigration Division has recently published new and updated information regarding the above Sanction regimes.

    News Releases advising details of the updates to the above Sanctions regimes can be read on the IOM Government website (www.gov.im/news) at:

    Financial Sanctions: Haiti

    https://www.gov.im/news/2025/jul/09/financial-sanctions-haiti/

     

    Copies of extant Sanctions Notices, are available free of charge over the Internet from the Sanctions and Export Control page on the website of the Isle of Man Treasury, Customs and Immigration Division located at: https://www.gov.im/categories/tax-vat-and-your-money/sanctions-and-export-control

    Any queries regarding the above, or any Sanctions related matter should be addressed to the Isle of Man Treasury, Customs and Immigration Division, Sanctions Officer  on telephone number +44 (0) 1624 648109 or by email to sanctions@gov.im

     

    To receive regular updates about sanctions, including updates to the UK Sanctions List, you can subscribe to the RSS feed for sanctions & Excise news releases by copying and pasting this URL:

     

    https://gov.im/categories/tax-vat-and-your-money/sanctions-and-export-control/news/RssCategorisedNews

     

     into your RSS feed reader or Microsoft Outlook RSS feeds folder. You can also view our guidance on how to use RSS Feeds.

     

    The UK Treasury operate an ‘alert’ system to provide email updates as and when changes to sanctions are introduced.  Licenceholders may consider it very prudent to avail themselves of this service if they do not already have relevant notification processes in place. 

     

    This service can be found at   Subscribe to Office of Financial Sanctions Implementation updates

     

    FSA Ref: News/ENF/14/2025 – 2025

    MIL OSI Economics –

  • MIL-OSI Economics: Sanction Update (1)

    Source: Isle of Man

    Financial Sanctions: Haiti

     

    The Authority has been notified that the Isle of Man Treasury, Customs and Immigration Division has recently published new and updated information regarding the above Sanction regimes.

    News Releases advising details of the updates to the above Sanctions regimes can be read on the IOM Government website (www.gov.im/news) at:

    Financial Sanctions: Haiti

    https://www.gov.im/news/2025/jul/09/financial-sanctions-haiti/

     

    Copies of extant Sanctions Notices, are available free of charge over the Internet from the Sanctions and Export Control page on the website of the Isle of Man Treasury, Customs and Immigration Division located at: https://www.gov.im/categories/tax-vat-and-your-money/sanctions-and-export-control

    Any queries regarding the above, or any Sanctions related matter should be addressed to the Isle of Man Treasury, Customs and Immigration Division, Sanctions Officer  on telephone number +44 (0) 1624 648109 or by email to sanctions@gov.im

     

    To receive regular updates about sanctions, including updates to the UK Sanctions List, you can subscribe to the RSS feed for sanctions & Excise news releases by copying and pasting this URL:

     

    https://gov.im/categories/tax-vat-and-your-money/sanctions-and-export-control/news/RssCategorisedNews

     

     into your RSS feed reader or Microsoft Outlook RSS feeds folder. You can also view our guidance on how to use RSS Feeds.

     

    The UK Treasury operate an ‘alert’ system to provide email updates as and when changes to sanctions are introduced.  Licenceholders may consider it very prudent to avail themselves of this service if they do not already have relevant notification processes in place. 

     

    This service can be found at   Subscribe to Office of Financial Sanctions Implementation updates

     

    FSA Ref: News/ENF/14/2025 – 2025

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Local business owner prosecuted over incorrect allergen advice

    Source: City of Derby

    A Derby small business owner has narrowly escaped a custodial sentence for serving products containing nuts to a customer with a severe nut allergy.

    Derby City Council Trading Standards have successfully prosecuted Samantha Brauner, the owner of Small’s Kitchen, after the customer suffered an allergic reaction triggered by eating the product. In May 2024, Small’s Kitchen fulfilled an online order of protein balls. 

    The customer asked whether the products contained nuts on several occasions, with Ms Brauner stating they did not.

    The case was heard at Southern Derbyshire Magistrates Court on Monday 30 June, where Samantha Brauner pleaded guilty to one charge of supplying unsafe food with undeclared allergens and one charge of selling food which was not of the nature, substance, or quality demanded by the purchaser.

    Ms Brauner narrowly escaped a custodial sentence due to her early guilty plea. She was fined £1920 and ordered to pay a victim surcharge of £768.

    The Magistrates acknowledged the severity of the offences brought before them, highlighting the well documented consequences of neglecting allergen management responsibilities.

    Councillor Shiraz Khan, Cabinet Member for Housing, Property, and Regulatory Services, said: 

    This is a situation that could have had disastrous consequences, which were fortunately avoided.

    Our Trading Standards team in securing this prosecution, which serves as a reminder to other businesses that they need to take their allergen management responsibilities seriously.

    We will continue to act in the best interests of the people of Derby, who should be able to have confidence in the products they are buying, particularly from local traders.

    Should any Derby City based business require allergen management advice, they can contact Trading Standards via the Citizens Advice and Consumer Service helpline.

    MIL OSI United Kingdom –

  • MIL-OSI China: World Population Day Event Held in Beijing

    Source: People’s Republic of China Ministry of Health

    n July 11, World Population Day event was held in Beijing. Ms. Guo Yanhong, Vice minister of the National Health Commission of P.R. China, Ms. Nadia Rasheed, the UNFPA Representative to the People’s Republic of China, and Mr. Xu Xinchao, Deputy Secretary-General of the Beijing Municipal Government, attended and delivered speeches.

    The theme for World Population Day 2025 in China is “Happy Marriage and Parenthood, Accompanied by Love and Support”. Ms. Guo Yanhong pointed out that the Chinese government has always cared about the happiness of young people, actively cultivated new types of marriage and childbearing culture and provided support. In 2024, China’s core indicators of maternal and child health ranked at the forefront of middle and high income countries in the world. The coverage of child care services has expanded, the number of child care providers has grown continuously, and inclusive child care services have been of better quality and become more accessible. China will continue to lead the new normal of population development, strive to build a childbirth-friendly society, and support Chinese-style modernization with high-quality population development. It will deepen cooperation with the UNFPA and countries around the world to jointly promote the realization of the Program of Action of the ICPD and United Nations SDGs, and build a community with a shared future for mankind.

    Ms. Rasheed expressed gratitude for the long-term cooperation with the National Health Commission and pointed out that it is crucial to listen to the voices of young people and respect their aspirations.

    Officials from the Ministry of Education, the Ministry of Civil Affairs, the All-China Federation of Trade Unions, the Central Committee of the Communist Youth League, the All-China Women’s Federation, relevant departments and directly affiliated institutions of the National Health Commission, and the Beijing Municipal Health Commission attended the event.

    MIL OSI China News –

  • MIL-OSI Africa: Deploying technology to save the white rhino

    Source: Government of South Africa

    Deploying technology to save the white rhino

    Government has launched a strategy that seeks to rebuild the Kruger National Park’s white rhino population from just over 2 000 to 12 000 within the next decade by using technology.

    Government aims to monitor rhino herds daily using drones, GPS collars, and digital reporting systems to provide real-time data to enforcement teams.

    “Starting this year, 90 Rhino Monitors will be trained and deployed annually across Kruger National Park. They are not just protecting rhino. They are protecting livelihoods, family legacies, and the possibility of green jobs for a generation to come,” Forestry, Fisheries and the Environment Minister, Dr Dion George said on Tuesday.

    The Minister made these remarks during the official launch of the Rhino Renaissance Campaign at the Kruger National Park, which is grounded on 24/7 rhino tracking; biological management such as targeted dehorning; DNA tagging and genetic research; enforcement cooperation across provincial, national, and regional levels and, critically, resource mobilisation to sustain operations over the long term.

    With South Africa currently hosting the Group Twenty (G20) Presidency, this campaign has been adopted as a G20 Legacy Project to rally global support, both diplomatic and financial, to scale this work.

    South Africa assumed the G20 Presidency on 1 December 2024, which runs to 30 November 2025, under the theme: “Solidarity, Equality, and Sustainability”.

    “This work does not stand alone. We are fighting wildlife crime on every front. Our National Integrated Strategy to Combat Wildlife Trafficking is anchored in the Medium-Term Development Plan, the country’s roadmap for the next five years. 

    “This strategy brings together key government departments – including my department, Police, Justice, Border Management, Intelligence, [the] South African National Parks (SANParks) and the provincial conservation entities – in a united, multidisciplinary response. It also builds strong partnerships with the private sector, civil society, and communities on the ground,” George explained.

    Tackling wildlife crimes

    Fighting wildlife crime is one of the Department of Forestry, Fisheries and the Environment’s six core priorities. 

    “At its heart is a commitment to a fair and sustainable future – one where our iconic wildlife supports livelihoods, uplifts communities, and strengthens our national identity. 

    “The Rhino Renaissance Campaign is a vital part of this effort. It supports our vision of a fair industry for lions, leopards, elephants, and rhinos — a future where these species are not only protected but thrive alongside the people who live among them.
    “No country or sector can tackle this threat alone. South Africa is building strong enforcement networks across borders and finalising agreements with rhino horn destination countries,” the Minister said.

    Government is engaging partners such as Interpol, the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), the International Narcotics Control Board (INCB), and the Southern African Development Community (SADC) neighbours to strengthen intelligence-sharing and cross-border cooperation.

    South Africa’s response goes beyond law enforcement. It includes financial intelligence, anti-corruption efforts, and international diplomacy- because wildlife crime is deeply embedded in global criminal networks.

    Decline in rhino poaching

    As of the end of June, 195 rhinos had been poached across South Africa this year – a reduction of 35 compared to the same period in 2024.

    “While any loss is too many, this decrease signals that our intensified enforcement efforts are starting to have an effect. June recorded the lowest monthly poaching figures so far this year, with 22 rhinos killed nationwide. Here in the  Kruger, which is still a primary target for poachers, we lost 11 rhinos in both May and June, down from 17 in January and 30 in February.

    “These numbers are a stark reminder that the threat remains real and unrelenting. But they also show that progress is possible. Our rangers, enforcement teams, and intelligence units continue to work tirelessly on the front lines to protect our wildlife and hold the line,” the Minister said.

    Through rhino dehorning, South Africa removes the reasons rhinos are being killed in the first place.
    “Dehorning does not harm the animal. It saves its life. It buys us time – to restore numbers, upgrade security, and disrupt demand,” he explained.

    The country is already seeing green shoots which include the relocation of 2 000 rhinos from African Parks to safe havens across the country; Munyawana Conservancy and others are growing populations through rewilding; cross-border work is underway in Mozambique, Zimbabwe, and across the Greater Limpopo Transfrontier Conservation Area.

    Safe havens have been identified in Rwanda, Uganda, Kenya, Tanzania, and Botswana and collaboration between government and private wildlife owners in the Integrated Wildlife Zones has been enhanced. –SAnews.gov.za
     

    nosihle

    MIL OSI Africa –

  • MIL-OSI Africa: Rise in e-commerce activity boosts SA’s supply chain sector

    Source: Government of South Africa

    Rise in e-commerce activity boosts SA’s supply chain sector

    Despite facing ongoing challenges, South Africa’s supply chain sector is experiencing growth fuelled by a surge in e-commerce and advancements in technology. 

    This is according to Deputy President Paul Mashatile, who was speaking at the opening ceremony of the China International Supply Chain Expo (CISCE) in Beijing on Wednesday. 

    “Our business communities have been resilient and adapting through strategies like diversifying suppliers, holding more inventory, and investing in digital transformation,” he told delegates.

    Mashatile is in China for a strategic working visit, which began on Monday. Its aim is to strengthen bilateral relations and enhance economic cooperation between the two nations. 

    The Deputy President participated in the CISCE at the invitation of Ren Hongbin, the chairperson of the China Council for the Promotion of International Trade (CCPIT). The prestigious event highlights the latest advancements in supply chain management. 

    Mashatile said this high-level expo is essential for both countries, as it fosters trade, investment, cooperation, innovation and learning within the global supply chain ecosystem.

    “South Africa is committed to strengthening global supply chains and fostering resilience in the face of challenges. In today’s rapidly changing world, the global supply chain landscape is facing unprecedented challenges, from natural disasters to political upheavals.” 

    He assured the expo that government has also adopted policies and strategies that are conducive for businesses to thrive. 

    “We understand the importance of building robust supply chains that can withstand disruptions and ensure the efficient flow of goods and services.

    “Our diverse economy and strategic location make us a natural gateway for trade and investment, connecting Africa to the rest of the world.” 

    The Deputy President described China as an essential partner in South Africa’s economic journey, recognising significant opportunities for collaboration and mutual growth.

    “Together, we can leverage our strengths and capabilities to further build supply chains that are not only efficient and cost-effective but also sustainable and resilient.

    “The fact that China and South Africa have a strong desire to diversify and expand trade between Africa and China is crucial to our efforts to create a solid supply chain.” 

    Mashatile said South Africa’s export portfolio to China comprises mainly basic commodities. 

    “While the trade volumes confirm South Africa’s natural endowment, the heavy slant towards mineral-based exports belies our advanced infrastructure, our diversified industrial base, and our leading service sectors.” 

    Showcasing unique SA offerings

    The South African government delegation was accompanied by 30 manufacturers and producers of uniquely South African products and services. 

    These products and services showcase the diversity of South African exports, ranging from ethically sourced and clean cosmetics comprising pure, natural extracts, as well as durable electro-technical equipment that has passed the tests of extreme African climate conditions. 

    “Naturally, our offering would not be complete without the companies that are showcasing the finest of South African clothing, leather and footwear.  

    “We are exceptionally proud of the delegation that comprises plastics, chemical and mining engineering firms, whose services have met the Chinese standards, such that they have been able to jointly complete infrastructure projects with Chinese firms.” 

    The Deputy President believes that the expo is instrumental in linking up Chinese buyers and importers with the South African producers at the stands today. 

    “One of the most critical steps in South Africa’s journey to balancing its trade with China will be the extensive listing of South African products on e-commerce platforms like Alibaba.

    “We are also making efforts to ensure the placement of quality South African products in various Free Trade Zones throughout China.”

    Trade on the African continent

    With regards to the African Continental Free Trade Area (AfCFTA), the Deputy President said the project fosters economic integration and increased trade and investment within Africa, while also providing opportunities for China to deepen its engagement with the continent. 

    To diversify its energy balance, reduce carbon emissions and improve energy security, Mashatile said South Africa is also rapidly increasing its dependence on renewable energy sources. 

    “We have set ambitious targets for renewable energy deployment, particularly in solar and wind power.”

    Through the Renewable Energy Masterplan, government has set out how South Africa can set up a new manufacturing industry in renewable energy and battery storage value chains. 

    The masterplan also aims to attract at least R15 billion in investment by 2030 and train “green workers” for employment in 25 000 direct jobs. – SAnews.gov.za

    Gabisile

    MIL OSI Africa –

  • MIL-OSI Russia: UAE’s Autocraft places pre-order for 350 ‘air taxis’ in China

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    SHANGHAI, July 16 (Xinhua) — United Arab Emirates (UAE) Autocraft on Wednesday signed a memorandum of understanding with Chinese electric vertical takeoff and landing (eVTOL) aircraft maker Shanghai TCab Technology Co., Ltd. to purchase 350 E20 eVTOL aircraft worth a total of $1 billion.

    This is the largest pre-order for eVTOLs in China to date.

    The deal is a result of a partnership between the two parties at last year’s China International Import Expo (CIIE).

    The deal is expected to see TCab Tech’s in-house developed E20 air taxis put into commercial service in low-altitude tourism and urban air mobility applications in the Middle East and North Africa region.

    As it became known, the E20 aircraft is designed for one pilot and four passengers. Its designed flight range is 200 km, and the maximum speed is 320 km/h.

    Autocraft explained the motivation for its partnership with Chinese company TCab Tech as recognition of the latter’s technological maturity and potential for safety systems.

    According to the concluded order document, the E20 eVTOL will be delivered in stages in several batches. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: US to Launch Section 301 Investigation into Brazil

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    NEW YORK, July 16 (Xinhua) — The Office of the U.S. Trade Representative announced Tuesday that it will launch an investigation into Brazil’s trade policies under Section 301 of the Trade Act of 1974.

    The investigation, ordered by U.S. President Donald Trump, will focus on “Brazil’s attacks on U.S. social media companies and other unfair trade practices that harm American businesses, workers, farmers, and technologists,” the agency said in a statement, citing U.S. trade negotiator Jamison Greer.

    The investigation will aim to determine “whether the actions, policies, and practices of the Brazilian government relating to digital commerce and electronic payment services, unfair, preferential tariffs, interference in the fight against corruption, intellectual property protection, market access for alcohol, and illegal logging are unreasonable or discriminatory and burden or restrict U.S. commerce,” the statement said. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: LCQ17: Monitoring operation of government departments and performance of civil servants

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Carmen Kan and a written reply by the Secretary for the Civil Service, Mrs Ingrid Yeung, in the Legislative Council today (July 16):

    Question:

         Regarding the monitoring of the operation of government departments and the performance of civil servants, will the Government inform this Council:

    (1) whether it has compiled statistics on the following information in respect of the investigations/audits conducted by the Office of The Ombudsman and the Audit Commission (Audit) since 2015 (set out in a table):

    (i) the subjects and names of government departments involved in the investigation reports/audit reports completed each year; and
    (ii) the number of investigations/audits conducted on various government departments, and the subjects on which investigations/audits had been conducted repeatedly (set out by department and year);

    (2) whether it knows which of the subjects examined by Audit mentioned in (1) have not yet completed the follow-up work in accordance with the recommendations of Audit and the Public Accounts Committee of this Council;

    (3) of the measures put in place by the Government to improve the operation of government departments which have been investigated/examined repeatedly and found to have problems; whether it has held the then responsible personnel (including accountability officials and civil servants) responsible and imposed punishments; if so, of the details, including the number of the relevant personnel being punished (with a breakdown by the investigated/examined subjects and government departments) and the form of penalty imposed; if not, the reasons for that, and whether it will study the establishment of the relevant mechanism;

    (4) whether the authorities have put in place an incentive mechanism for government departments with outstanding performance, so as to further increase the incentive of government personnel; if so, of the details; if not, the reasons for that, and whether they will study establishing the relevant mechanism; and

    (5) since the promulgation of the updated Civil Service Code (the Code) last year, of the number of civil servants who have been issued with notifications by the Government under section 12 of the Public Service (Administration) Order and not granted increments as a result of substandard performance (with a breakdown by rank), and how such number compares with the data before the Code was updated; of the measures in place to enhance the effectiveness of rewarding and punishing civil servants for their performance, e.g. whether it will study reforming the incremental point system to improve their overall performance; if so, of the details; if not, the reasons for that?

    Reply:

    President,

         The current-term Government has all along been result-oriented and citizen-centered, striving to provide quality public services, while at the same time deepening reforms and introducing various enhancement measures. According to the World Competitiveness Yearbook 2025 published in June this year, Hong Kong’s global competitiveness rises from the fifth place last year to the third. In terms of government efficiency, Hong Kong’s ranking rises from the third to the second place globally, indicating that the Hong Kong Special Administrative Region (HKSAR) Government’s policies are working, various policies have yielded results, and that Government departments are also operating highly effectively in providing the requisite services for the public, foreign investors and tourists, etc. To ensure that the quality of public services is maintained and further enhanced, we attach great importance to the investigation/audit reports and valuable advice provided by the Office of The Ombudsman (OMB) and the Audit Commission. Respective departments will examine and study the reports in detail and follow up on the relevant recommendations.

         Having consulted the Administration Wing and the OMB, the Financial Services and the Treasury Bureau and the Audit Commission, as well as the Constitutional and Mainland Affairs Bureau, my reply to the question raised by the Hon Carmen Kan is as follows:

    (1) Established under The Ombudsman Ordinance, the OMB is an independent statutory body responsible for investigation works on maladministration. It is not a government department nor an organisation under the HKSAR Government. Under the legislation, apart from investigating complaints lodged by complainants against alleged maladministration in government departments and public organisations, The Ombudsman is also empowered to initiate direct investigation operations where injustice may have been caused by maladministration. The direct investigation operations are prompted mainly by subjects of significant public interest. 

         Over the past decade, the OMB has completed a total of 98 direct investigation operations involving 40 departments, covering a wide range of areas including medical and health, transport, buildings, lands, planning, labour, environmental protection, food and environmental hygiene, education, social welfare, housing, culture, recreation and sports. In general, the OMB completes eight to ten direct investigation operations per year.

         During this period, the departments involved in the highest number of direct investigation operations were, in descending order, the Food and Environmental Hygiene Department (17 operations), the Lands Department (13 operations), the Housing Department (11 operations), the Transport Department (9 operations), the Environmental Protection Department (8 operations), the Home Affairs Department (8 operations), and the Leisure and Cultural Services Department (8 operations). 

         Each direct investigation operation has its own uniqueness. In the past decade, none of the direct investigation operations were repeated. However, the OMB has carried out different direct investigation operations on different topics under some major areas, such as public housing, tree management, water seepage, after-death arrangement.

         For instance, food and environmental hygiene, lands matters, public housing, transport and recreation and sports are major areas. Examples of direct investigations conducted by the OMB in the area of food and environmental hygiene include regulation of swimming pools, enforcement against defective sewage works of New Territories exempted houses, regulation over sale of food in hot/cold holding and non-pre-packaged beverages by means of vending machine, after-death arrangements; an example of direct investigations in the area of lands matters is enforcement against unauthorised land developments; direct investigation examples in relation to public housing include housing for senior citizens, combating abuse, recovery, refurbishment and reallocation of public housing, illegal parking in public housing estates; examples in the area of traffic and transport include arrangements for driving tests, on-street parking spaces designated for people with disabilities; examples in relation to recreation and sports include obstruction of passageways by bicycles owned by operators of bicycle rental services, as well as repairs and maintenance of outdoor recreational and sports facilities. The OMB has conducted direct investigation operations on such topics.

         It is worth noting that the frequency of the departments or their subject areas being involved in direct investigation operations might be affected by various factors including nature of service, service target and prevailing concern in the society. Therefore, the frequency of departments under investigation does not represent the operation situation or performance of the department.

         On the other hand, value for money audits are conducted by the Audit Commission to examine the economy, efficiency and effectiveness with which government departments and organisations have discharged their functions, and the results of such audits are published in the Director of Audit’s Reports. 

         In the past ten years, the Audit Commission completed a total of 174 value for money audits covering 63 government departments (including the relevant policy bureaux), covering a wide range of areas including public works, commerce and industry, social welfare, buildings, lands and planning, recreation, culture and facilities, education, employment and labour, transportation and environmental protection. In general, the Audit Commission completes over ten value for money audits per year.

         During the period, the departments involved in the highest number of audits in their respective policy areas were, in descending order, the Environment and Ecology Bureau (27 audits), the Development Bureau (18 audits), the Education Bureau (16 audits), the Culture, Sports and Tourism Bureau (14 audits), the Labour and Welfare Bureau (14 audits), the Transport and Logistics Bureau (13 audits), the Environmental Protection Department (12 audits), the Food and Environmental Hygiene Department (12 audits), and the Leisure and Cultural Services Department (12 audits).

         In the past ten years, the Audit Commission conducted two audits on the Dedicated Fund on Branding, Upgrading and Domestic Sales, involving the Commerce and Economic Development Bureau and the Trade and Industry Department. The audit findings were published in Chapter 1 of the Director of Audit’s Report No. 84 and Chapter 7 of the Director of Audit’s Report No. 66 respectively.

         The Director of Audit takes into account a number of factors, including the significance of the project, its timeliness, the amount of public money and risks involved, and the benefits to be brought about, in selecting the subjects for value for money audits and deciding on the priority for conducting the audits.

    (2) The number of value for money audits for which follow-up actions have not been completed in accordance with the recommendations of the Audit Commission or the Public Accounts Committee (PAC) of the Legislative Council (LegCo) is 42, as set out in Annex. The Government has been reporting regularly to LegCo on the progress of implementing the recommendations in the form of Government Minute and annual progress reports, and the Audit Commission discusses with the PAC annually the progress of implementation of the recommendations by the audited organisations.

    (3) and (4) The HKSAR Government adopts a proactive and positive attitude in following up the investigations of the OMB and the audit reports of the Audit Commission as well as the recommendations therein, and carefully scrutinises and takes on board the recommendations to improve the relevant policy measures and public services. As the Ombudsman explained to this Council at its meeting on July 8, some government departments are responsible for more services which are in close contact with the public, and hence they may receive more complaints, and as mentioned above, the Director of Audit will take into account factors such as the significance of the subject, its timeliness, the amount of public funds and risks involved, as well as the benefits to be brought about, in selecting the value for money audit subjects and in determining the priority for conducting the audit; therefore, a department’s performance cannot be measured solely on the basis of the number of investigations conducted by the OMB and the number of projects selected for audit. Some of the complaints received by the OMB involved no or only minor maladministration, and the OMB has successfully concluded 555 such cases by way of mediation. Departments and bureaux will strive to follow up on any areas of improvement in the economy, efficiency and effectiveness in the administrative operations, administrative systems, administrative procedures or in the discharge of duties identified by the OMB and the Audit Commission upon completion of their investigations/audits. The causes of departmental maladministration, inefficiency and ineffective use of resources are numerous and often not homogeneous. The Government as a whole also pays close attention to deep-seated issues, such as over-emphasis on procedures to the detriment of effective achievement of objectives. The current-term Government adopts a result-oriented approach at all levels, and this element is emphasised in our daily work as well as in the leadership training of senior and middle-level civil servants. If a civil servant is found to be incapable of performing his/her duties or to have a less than positive attitude towards his/her work in any of the investigations or audits, his/her supervisors will reflect this in his/her appraisal report, and if he/she is under consideration by a promotion board, the board will also take into account deficiencies in his/her ability or attitude towards work. If an investigation or audit reveals that a civil servant has misconducted himself/herself, the department will deal with the case in accordance with the civil service disciplinary mechanism. As regards politically appointed officials, the Government will act in accordance with the Code for Officials under the Political Appointment System.

         The current-term Government is committed to setting up a performance-based management system. In respect of awards, the Government endeavours to implement various commendation schemes for civil servants, including the Chief Executive’s Award for Exemplary Performance, the Secretary for the Civil Service’s Commendation Award Scheme, the Civil Service Outstanding Service Award Scheme, to give due recognition to departments and individuals with outstanding performances in different areas, encourage civil servants to strive for excellence and provide quality services to the public. The Civil Service Outstanding Service Award Scheme aims to recognise government departments and teams in providing exemplary services, encourage civil servants’ innovation, and promote a people-oriented and “one government” public service culture. The OMB has also set up an annual Ombudsman’s Awards Scheme to recognise the contribution of departments and public organisations to the improvement of public administration. Individual and team awards are also presented to public officers in recognition of their outstanding performance and professionalism in serving the public.

    (5) In September 2023, the Civil Service Bureau promulgated and implemented the streamlined mechanism of retiring civil servants in the public interest on the ground of persistent sub-standard performance (the streamlined mechanism) under Section 12 of the Public Service (Administration) Order (Section 12 action) to strengthen the management of staff with sub-standard performance. From September 2023 to the end of June 2025, a total of 16 officers were issued with Section 12 Notification due to their sub-standard performance. They were advised to improve their performance to the acceptable standard within a specified observation period; otherwise Section 12 action would be taken. Among these officers, three officers were ordered to be retired due to persistent sub-standard performance; two officers resigned upon receipt of the Section 12 Notification; two officers with Section 12 action suspended as their performance was improved to the acceptable standard; and the cases of nine officers are still ongoing. When compared to the five–year period from September 2018 to September 2023 (i.e. before the implementation of the streamlined mechanism) in which a total of 12 officers were issued with the notification under the old mechanism informing that Section 12 action would be taken (i.e. 2.4 officers per year on average), 16 officers have been issued with Section 12 Notification since the implementation of the streamlined mechanism, indicating a higher usage of the streamlined mechanism by departments. The average processing time has also been largely reduced from 31.5 months for cases processed within the five years before the implementation of the streamlined mechanism to 10 months after its implementation. Apart from the 16 officers mentioned above, some officers have resigned before the commencement of the observation period when they were informed of the department’s intention to initiate Section 12 action against them, and the Government does not keep information on the number of such cases. As regards the granting of increments, a total of 12 and 21 civil servants were not granted an increment due to unsatisfactory performance in 2023 and 2024 respectively.

         The civil service is an integral part of the HKSAR’s governance system. The current-term Government has been attaching great importance to the enhancement of the civil service management system. The Civil Service Code updated last year states that accountability for performance is one of the core values, and that civil servants should be held accountable for their decisions and actions in discharging their public duties. We will continue to push ahead with the relevant work.

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Bribery in South Africa: law now puts a duty on companies to act

    Source: The Conversation – Africa – By Rehana Cassim, Professor in Company Law, University of South Africa

    Bribery is one of the most common forms of corruption in South African companies and state institutions. This has a number of harmful outcomes.

    Firstly, research shows that it weakens democracy and slows down economic growth. It also creates expensive barriers for honest businesses to succeed because it distorts fair competition. If bribery is not stopped or punished it has a demoralising effect, because it erodes trust and creates a culture where ethical conduct is undermined.

    In 2024 a new law came into force in South Africa that puts a duty on companies to take proactive steps to prevent bribery. This law falls under a broader law dealing with corruption in South Africa.

    The new provisions make it a crime for companies to fail to prevent bribery by an associated person. This is a major policy shift in South African anti-corruption law, and aligns with the United Kingdom’s anti-bribery legislation.

    An associated person is anyone who performs services for the company. This can include suppliers, joint venture partners, distributors, consultants, and other professionals advising the company. It can even be other companies, like subsidiaries.

    In my research I found that South Africa took inspiration from the United Kingdom (UK) Bribery Act 2010. The law makes it a criminal offence for commercial organisations to fail to prevent bribery by associated persons.

    Despite some successes, enforcement of the UK Bribery Act has been slow and the volume of prosecutions has been low.

    Based on my research into company conduct, given the current challenges in law enforcement and the low conviction rates for crimes of corruption, the new law might not work as well as hoped.

    But with improved enforcement, it has potential to reduce bribery in South Africa.

    What’s behind the new law?

    The new addition to the law was introduced after a commission of inquiry found evidence of widespread bribery and corruption under former president Jacob Zuma.

    For example, Angelo Agrizzi, former chief operating officer of African Global Operations (Pty) Ltd (formerly known as Bosasa), testified that Bosasa won about US$129 million in government tenders by paying about US$4 million in bribes to politicians and government officials. He said that every contract in which Bosasa was involved was linked to bribery and corruption.

    The new law is designed to prevent this from happening.

    If a person associated with a member of the private sector or an incorporated state-owned entity gives, agrees or offers to give a bribe (or gratification) to another person, the company could be held liable. This applies to companies as well as individuals, partnerships, trusts and other legal entities.

    The bribe must be given by the associated person to get business for the company or to gain a business advantage for it. Importantly, a company can be found guilty even if it didn’t know about the bribe.

    What counts as a bribe?

    A bribe (or gratification) is not just money. It includes avoiding a loss or other disadvantage, releasing any obligation or liability, or giving any favour or advantage.

    The bribe does not actually have to be given. It is enough if the associated person agrees or offers to give the bribe.

    It is not clear yet if hospitality or promotional expenditures count as bribes.

    Under the UK Bribery Act a hospitality payment is not regarded as a gratification unless it is disproportionate. In my view South Africa should follow the same approach.

    For example, if paying for transport from the airport to a hotel for an on-site visit, taking clients to dinner, or giving them tickets to an event aligns with the norms for the industry, this probably will not be seen as a bribe.

    Facilitation payments is another tricky area. These are small bribes made to minor officials to get routine administrative tasks done, such as applying for visas, clearing customs or getting licences.

    The new law doesn’t say whether facilitation payments are regarded as bribes. In my view, they should be.

    What companies need to do

    Companies can avoid liability under the new law if they can prove that they had adequate procedures in place to prevent bribery by associated persons.

    But the law doesn’t explain what “adequate procedures” are. Until the South African government provides guidance on this, it is useful to look at the guidance provided under the UK Bribery Act. It recommends the following:

    • Companies should adopt procedures that are proportionate to the bribery risks they face and the nature, scale and complexity of their activities.

    So a larger company operating in a high-risk market where bribery is known to be common must do more to prevent bribery than a smaller company in a low-risk market where bribery is less common.

    • The company’s board of directors should foster a culture where bribery is never acceptable.

    • Companies should periodically assess their exposure to potential bribery risks.

    • Companies should carry out due diligence procedures on their associated persons.

    • Companies should communicate their anti-bribery polices internally and externally. They should also provide training to ensure that everyone understands their anti-bribery position.

    • Companies should monitor their procedures and improve them where necessary.

    The way forward

    The South African government should urgently publish official guidelines to help companies understand what they must do to comply with the new law.

    The principles of South Africa’s corporate governance code, the King IV Report, can also be used to help companies comply with the new law. These principles promote ethical leadership, an ethical culture, risk management, accountability and transparency.

    Guidelines are also important for small and medium enterprises. They also have a legal duty to put in place adequate procedures to prevent bribery.

    Companies that have not already put in place anti-bribery procedures should act quickly. And they should check that their corporate hospitality policies are reasonable and proportionate to their businesses.

    Companies should also evaluate their relationships with the people associated with them.

    Setting up anti-bribery procedures may have cost implications. But not having them could cost far more. Having adequate procedures in place is the only defence under the new law.

    – Bribery in South Africa: law now puts a duty on companies to act
    – https://theconversation.com/bribery-in-south-africa-law-now-puts-a-duty-on-companies-to-act-260148

    MIL OSI Africa –

  • MIL-OSI: Virtune launches Virtune Coinbase 50 Index ETP on Nasdaq Stockholm

    Source: GlobeNewswire (MIL-OSI)

    Stockholm, July 16, 2025 – Virtune, the Swedish regulated crypto asset manager, announces the listing of its latest exchange-traded product, the Virtune Coinbase 50 Index ETP, on Nasdaq Stockholm traded in SEK. This listing marks a major milestone for Virtune’s continued growth in its home market and reinforces its position as a leading issuer of regulated, physically backed crypto ETPs in the Nordics.

    The product is now available to Swedish and Nordic investors via brokers and banks such as Avanza, Nordnet, SAVR and Montrose and is traded in SEK.

    Virtune has worked closely with Coinbase since its inception, collaborating across all key areas – staking, trading, and custody. The launch of the Virtune Coinbase 50 Index ETP marks the next step in strengthening this partnership. It is the world’s first exchange-traded product to track the Coinbase 50 Europe Index – a broadly diversified benchmark of up to 50 leading crypto assets. The index is developed by Coinbase and administered by MarketVector Indexes™. The ETP currently holds 21 crypto assets, with the target to expand to all 50 assets pending regulatory and exchange approvals.

    The Coinbase 50 Europe Index aims to provide investors with representative exposure to the most significant and relevant digital assets in the market. The product is tailored for both institutional and retail investors seeking regulated, transparent, and professional exposure to the crypto market.

    Allocation as of 15th of July 2025:

    https://www.virtune.com/product/vcoin50

    Christopher Kock, CEO of Virtune:

    “Listing our Coinbase 50 Index ETP on Nasdaq Stockholm marks a significant milestone in our mission to provide secure and regulated access to digital assets investments in Sweden and the Nordics. We are thrilled to bring this flagship product to our home market, allowing investors to trade it in SEK on Nasdaq Stockholm.”

    The Virtune Coinbase 50 Index ETP is 100% physically backed by the underlying crypto assets, securely stored in cold-storage with Coinbase, and carries a competitive annual management fee of 0.95%.

    Learn more about the product here: www.virtune.com/product/vcoin50

    About Coinbase: 

    Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.

    Brett Tejpaul, Head of Coinbase Institutional: 

    “With the launch of the Virtune Coinbase 50 Index ETP in Nordics, we’re making one of the most comprehensive benchmarks for the crypto market directly accessible to investors across the Nordics. This marks a major step forward in our mission to expand global access to digital assets and provide institutional-grade tools for navigating this evolving asset class. The introduction of this ETP reinforces our commitment to bridging traditional financial infrastructure with the growing demand for regulated, secure exposure to the digital economy.”

    About MarketVector:

    MarketVector Indexes™ (“MarketVector”) is a regulated Benchmark Administrator in Europe, incorporated in Germany and registered with the Federal Financial Supervisory Authority (BaFin). MarketVector maintains indexes under the MarketVector™, MVIS®, and BlueStar® names. With a mission to accelerate index innovation globally, MarketVector is best known for its broad suite of Thematic indexes, a long-running expertise in Hard Asset-linked Equity indexes, and its pioneering Digital Asset index family. MarketVector is proud to be in partnership with more than 25 Exchange-Traded Product (ETP) issuers and index fund managers in markets throughout the world, with more than USD 57 billion in assets under management.

    Martin Leinweber, Director, Digital Asset Research and Strategy, MarketVector: 

    “The Virtune Coinbase 50 Index ETP marks a significant step forward for crypto investment in Europe, offering broad, institutional-grade exposure to digital assets through a single, efficient product. This milestone combines MarketVector’s index expertise, Coinbase’s market infrastructure, and Virtune’s transparent, regulated approach. We’re proud to deepen our partnership with Virtune by becoming the index provider for their entire range of crypto ETPs across Europe. Together, we’re delivering the tools institutional and retail investors need to navigate the digital asset landscape with greater confidence and clarity.”

    Key Information about the Product:

    • Exposure: Up to 50 leading crypto assets in a single product
    • Underlying assets: 100% physically backed by the underlying crypto assets
    • Custody: Institutional-grade custody by Coinbase
    • Management fee: 0.95% per annum
    • Trading currency: SEK
    • First day of trading on Nasdaq Stockholm: Monday, July 14, 2025
    • Bloomberg Ticker: VCOIN50
    • ISIN: SE0024738389
    • WKN: A4A5D4
    • Exchange ticker: VCOIN50
    • Exchanges: Nasdaq Stockholm, Nasdaq Helsinki, Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris

    For inquiries, please contact:

    Christopher Kock, CEO & Member of the Board of Directors
    +46 70 073 45 64
     christopher@virtune.com

    About Virtune AB (Publ):

    Virtune, headquartered in Stockholm, is a regulated Swedish digital asset manager and issuer of crypto exchange-traded products on regulated European exchanges. Through regulatory compliance, strategic partnerships, and a highly experienced team, Virtune empowers global investors to access innovative and professional investment products aligned with the evolving global crypto market.

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.. The Coinbase 50 Europe Index (“Index”) is the exclusive property of MarketVector Indexes GmbH (“MarketVector”) and its Licensors and has been licensed for use by Virtune AB (Publ) (“Licensee”). MarketVector has contracted with CC Data Limited to maintain and calculate the Index. CC Data Limited uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MarketVector, CC Data Limited has no obligation to point out errors in the Index to third parties. In particular, MarketVector is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on the Virtune Coinbase 50 Europe ETP (“Product”) or not, are not sponsored, endorsed, sold, or promoted by MarketVector and any of its affiliates, and MarketVector and any of its affiliates make no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MARKETVECTOR AND ANY OF ITS AFFILIATES AND ANY OF ITS LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO LICENSEE.

    The MIL Network –

  • MIL-OSI Analysis: Bribery in South Africa: law now puts a duty on companies to act

    Source: The Conversation – Africa – By Rehana Cassim, Professor in Company Law, University of South Africa

    Bribery is one of the most common forms of corruption in South African companies and state institutions. This has a number of harmful outcomes.

    Firstly, research shows that it weakens democracy and slows down economic growth. It also creates expensive barriers for honest businesses to succeed because it distorts fair competition. If bribery is not stopped or punished it has a demoralising effect, because it erodes trust and creates a culture where ethical conduct is undermined.

    In 2024 a new law came into force in South Africa that puts a duty on companies to take proactive steps to prevent bribery. This law falls under a broader law dealing with corruption in South Africa.

    The new provisions make it a crime for companies to fail to prevent bribery by an associated person. This is a major policy shift in South African anti-corruption law, and aligns with the United Kingdom’s anti-bribery legislation.

    An associated person is anyone who performs services for the company. This can include suppliers, joint venture partners, distributors, consultants, and other professionals advising the company. It can even be other companies, like subsidiaries.

    In my research I found that South Africa took inspiration from the United Kingdom (UK) Bribery Act 2010. The law makes it a criminal offence for commercial organisations to fail to prevent bribery by associated persons.

    Despite some successes, enforcement of the UK Bribery Act has been slow and the volume of prosecutions has been low.

    Based on my research into company conduct, given the current challenges in law enforcement and the low conviction rates for crimes of corruption, the new law might not work as well as hoped.

    But with improved enforcement, it has potential to reduce bribery in South Africa.

    What’s behind the new law?

    The new addition to the law was introduced after a commission of inquiry found evidence of widespread bribery and corruption under former president Jacob Zuma.

    For example, Angelo Agrizzi, former chief operating officer of African Global Operations (Pty) Ltd (formerly known as Bosasa), testified that Bosasa won about US$129 million in government tenders by paying about US$4 million in bribes to politicians and government officials. He said that every contract in which Bosasa was involved was linked to bribery and corruption.

    The new law is designed to prevent this from happening.

    If a person associated with a member of the private sector or an incorporated state-owned entity gives, agrees or offers to give a bribe (or gratification) to another person, the company could be held liable. This applies to companies as well as individuals, partnerships, trusts and other legal entities.

    The bribe must be given by the associated person to get business for the company or to gain a business advantage for it. Importantly, a company can be found guilty even if it didn’t know about the bribe.

    What counts as a bribe?

    A bribe (or gratification) is not just money. It includes avoiding a loss or other disadvantage, releasing any obligation or liability, or giving any favour or advantage.

    The bribe does not actually have to be given. It is enough if the associated person agrees or offers to give the bribe.

    It is not clear yet if hospitality or promotional expenditures count as bribes.

    Under the UK Bribery Act a hospitality payment is not regarded as a gratification unless it is disproportionate. In my view South Africa should follow the same approach.

    For example, if paying for transport from the airport to a hotel for an on-site visit, taking clients to dinner, or giving them tickets to an event aligns with the norms for the industry, this probably will not be seen as a bribe.

    Facilitation payments is another tricky area. These are small bribes made to minor officials to get routine administrative tasks done, such as applying for visas, clearing customs or getting licences.

    The new law doesn’t say whether facilitation payments are regarded as bribes. In my view, they should be.

    What companies need to do

    Companies can avoid liability under the new law if they can prove that they had adequate procedures in place to prevent bribery by associated persons.

    But the law doesn’t explain what “adequate procedures” are. Until the South African government provides guidance on this, it is useful to look at the guidance provided under the UK Bribery Act. It recommends the following:

    • Companies should adopt procedures that are proportionate to the bribery risks they face and the nature, scale and complexity of their activities.

    So a larger company operating in a high-risk market where bribery is known to be common must do more to prevent bribery than a smaller company in a low-risk market where bribery is less common.

    • The company’s board of directors should foster a culture where bribery is never acceptable.

    • Companies should periodically assess their exposure to potential bribery risks.

    • Companies should carry out due diligence procedures on their associated persons.

    • Companies should communicate their anti-bribery polices internally and externally. They should also provide training to ensure that everyone understands their anti-bribery position.

    • Companies should monitor their procedures and improve them where necessary.

    The way forward

    The South African government should urgently publish official guidelines to help companies understand what they must do to comply with the new law.

    The principles of South Africa’s corporate governance code, the King IV Report, can also be used to help companies comply with the new law. These principles promote ethical leadership, an ethical culture, risk management, accountability and transparency.

    Guidelines are also important for small and medium enterprises. They also have a legal duty to put in place adequate procedures to prevent bribery.

    Companies that have not already put in place anti-bribery procedures should act quickly. And they should check that their corporate hospitality policies are reasonable and proportionate to their businesses.

    Companies should also evaluate their relationships with the people associated with them.

    Setting up anti-bribery procedures may have cost implications. But not having them could cost far more. Having adequate procedures in place is the only defence under the new law.

    The Conversation

    Rehana Cassim 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. Bribery in South Africa: law now puts a duty on companies to act – https://theconversation.com/bribery-in-south-africa-law-now-puts-a-duty-on-companies-to-act-260148

    MIL OSI Analysis –

  • MIL-OSI Australia: Join the celebrations! Applications now open for the 2026 National Multicultural Festival

    Source: Northern Territory Police and Fire Services

    As part of ACT Government’s ‘One Government, One Voice’ program, we are transitioning this website across to our . You can access everything you need through this website while it’s happening.

    Released 16/07/2025

    Want to celebrate your culture, share your organisation’s valuable work, or take the stage at one of Canberra’s most beloved events? Applications are now open for performers and stallholders wishing to participate in the 2026 National Multicultural Festival, which will return from 6 – 8 February 2026.

    Minister for Multicultural Affairs, Michael Pettersson MLA, encouraged members of the community who are interested in being involved in the festival to participate in the open application process.

    “Canberra’s diverse community is the heartbeat of the National Multicultural Festival. I encourage individuals and organisations who want to help celebrate the ACT’s inclusiveness to apply to be part of the festivities,” Minister Pettersson said.

    “The fact that the National Multicultural Festival is community-led is what makes it such a vibrant and unique event, one that attracts hundreds of thousands of people to Canberra City each year,” Minister Pettersson said.

    “Participating in the National Multicultural Festival is a fantastic way to reach new audiences and make new community connections. In 2025, more households than ever attended the festival, with 83,420 – or 41% – of Canberra households attending.”

    The National Multicultural Festival promotes equality, social cohesion and the sharing of culture through music, dance, language, cultural displays, food, learning, and interaction.

    Stallholder applicants can apply under four different categories:

    • Community (Food and Beverage; Retail Cultural Market Items; or Club – Food and Beverage)
    • Information (Multicultural; Diplomatic; or General)
    • Commercial (Food and Drink; or Retail Market Items)
    • Market Stalls (Community; or Commercial)

    The festival team, which sits within the ACT Government’s Health and Community Services Directorate, will hold information sessions over the coming weeks to help prospective applicants.

    The festival also welcomes local, national and international performer applications from a wide range of genres, including music, dance, song, spoken word, performance art, roving performers and ceremonies. Community Groups, professional and volunteer performers are encouraged to apply in the following categories:

    • Cultural showcase
    • Stage performance
    • Community workshop
    • Cooking demonstration
    • Parade participation

    Minister Pettersson said non-profit community organisations could apply for grants ranging from $100 to $10,000 for projects that promote community participation, inclusion and cultural diversity at the festival. The ACT Government’s National Multicultural Festival Grant Program is available for community organisations to assist with performance costs, materials, costumes, performer and rehearsal fees, travel expenses and Public Liability Insurance.

    Applications to participate as a stallholder or performer at the festival close on 26 August.

    More information on the application process and information sessions is available at www.multiculturalfestival.com.au.

    For more information about the ACT Government’s National Multicultural Festival, go to www.multiculturalfestival.com.au and subscribe to the newsletter.

    Quote attributable to Canberra Juventus Football Club:
    “As a first-time entrant to the 2025 National Multicultural Festival, the experience of the many volunteers of the Canberra Juventus Football Club was both a memorable and special time for the club. The festival provided the opportunity and surroundings that brought together so many families and friends, as well as both past and present members and players of the long-established Italian based heritage of the Canberra football club. This coming together is what the club believes in and shows the true essence of the ‘community of Canberra Juventus’. The opportunity allowed us to showcase our Italian heritage and passion, through our specialty food and sweets, our famous Aperol Spritz with fun Italian music. Importantly, we were able to express our passion for family and football which encapsulates the club’s objectives in strengthening community. We certainly hope to do it all again in 2026!”

    Quote attributable to Robin Zirwanda, Founder of the Assyrian Australian band Azadoota:
    “The vibe of the National Multicultural Festival is really welcoming. The festival audience is really responsive and eager to experience the culture we share through our music. And because the festival attracts people from so many different cultures, there is a real sense of collaboration and sharing between the audience and the performers. It’s a great energy.”

    – Statement ends –

    Michael Pettersson, MLA | Media Releases

    «ACT Government Media Releases | «Minister Media Releases

    MIL OSI News –

  • MIL-OSI Russia: China and Australia sign memorandum of understanding on implementation and review of free trade agreement

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 16 (Xinhua) — China and Australia on Tuesday signed a memorandum of understanding on the implementation and review of the China-Australia Free Trade Agreement (FTA), according to the Ministry of Commerce.

    The document was signed by Chinese Minister of Commerce Wang Wentao and Australian Secretary of Foreign Affairs and Trade Ian Adams in the presence of Chinese Premier Li Qiang and Australian Prime Minister Anthony Albanese.

    Since the China-Australia free trade agreement came into effect in 2015, it has greatly contributed to the fruitful development of trade and economic relations between the two countries, the Chinese Ministry of Commerce said.

    The year 2025 marks the 10th anniversary of the China-Australia FTA coming into force. The two sides will take this opportunity to maintain close cooperation, continue high-quality implementation of the FTA, and jointly review the FTA to identify areas for further improvement or expansion, the Commerce Ministry said.

    This will increase the level of liberalization and facilitation of trade and investment, thereby providing a higher level of institutional guarantees for trade and economic cooperation between the two countries, the department added. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI China: US launches section 301 probe against Brazil

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

    The Office of the U.S. Trade Representative announced Tuesday that it will open an investigation into Brazil’s trade policies under Section 301 of the Trade Act of 1974.

    The investigation, launched under U.S. President Donald Trump’s direction, will look into “Brazil’s attacks on American social media companies as well as other unfair trading practices that harm American companies, workers, farmers, and technology innovators,” said the office in a statement, citing U.S. Trade Representative Jamieson Greer.

    Greer determined that Brazil’s tariff and non-tariff barriers “merit a thorough investigation, and potentially, responsive action” after consulting with other government agencies, cleared advisers and Congress.

    The investigation will seek to determine “whether acts, policies, and practices of the Government of Brazil related to digital trade and electronic payment services; unfair, preferential tariffs; anti-corruption interference; intellectual property protection; ethanol market access; and illegal deforestation are unreasonable or discriminatory and burden or restrict U.S. commerce,” said the statement. 

    MIL OSI China News –

  • MIL-OSI: Q1 Trading Statement for the three months ended 30 June 2025

    Source: GlobeNewswire (MIL-OSI)

         
         
      Intermediate Capital Group plc

    16 July 2025

    Q1 Trading Statement for the three months ended 30 June 2025

    Highlights

    • AUM of $123bn; fee-earning AUM of $82bn; AUM not yet earning fees of $19bn
    • Fee-earning AUM up 4%1 in the quarter, up 11%1 year-on-year
    • Fundraising in the quarter of $3.4bn, driven by Europe IX ($1.5bn / €1.3bn) and Infrastructure Europe II ($1.2bn / €1.0bn). Focus from LPs on liquidity and investment performance is continuing to drive manager selection
    • Infrastructure Europe has shown strong momentum into its final close, with Fund II receiving substantially more client capital than the prior vintage: at 30 June 2025 Infrastructure Europe II had a Total Fund Size of €2.5bn (Fund I: €1.5bn), and we expect to close a further €0.6bn before the end of the current quarter, reaching the hard cap for the strategy
    • Europe IX has had an impressive start to the fundraise, with global demand from current and new clients attracted by the strategy’s track record of private equity-like returns with downside protection and high DPI. At 30 June 2025 the Total Fund Size was €5.8bn (Europe VIII: €8.1bn)
    • Investment landscape remains very attractive for a number of strategies, including structured capital, secondaries and real assets equity
    • FY25 Sustainability and People Report published in June 2025, available here

    Unless otherwise stated the financial results discussed herein are on the basis of alternative performance measures (APM) basis; see full year results
    1 On a constant currency basis

    		  

    PERFORMANCE REVIEW

      AUM        
          Growth1
        30 June 2025 Last three months Year-on-year Last five years (CAGR)
      AUM $123bn         3%                 15%                 18%        
      Fee-earning AUM $82bn         4%                 11%                 14%        
               
      1 On a constant currency basis
      Business activity                
                       
      $bn Fundraising   Deployment1   Realisations1,2
      Q1 FY26 LTM   Q1 FY26 LTM   Q1 FY26 LTM
      Structured Capital and Secondaries 1.9 13.3   1.0 9.8   0.4 2.0
      Real Assets 1.3 3.2   0.5 2.7   0.3 1.6
      Debt3 0.2 5.8   1.3 3.8   0.4 3.9
      Total 3.4 22.3   2.8 16.3   1.1 7.5
                       
      1 Direct investment funds; 2 Realisations of fee-earning AUM; 3 Includes Deployment and Realisations for Private Debt only.

    PERIOD IN REVIEW

    AUM and FY26 fundraising

    At 30 June 2025, AUM stood at $123bn, fee-earning AUM at $82bn and dry powder at $34bn. The bridge between AUM and fee-earning AUM is as follows:

    $m Structured Capital and Secondaries Real Assets Debt Seed investments Total
    Fee-earning AUM 39,347 9,375 33,472   82,194
    AUM not yet earning fees 3,278 1,187 14,639 — 19,104
    Fee-exempt AUM 10,686 5,918 1,393 — 17,997
    Balance sheet investment portfolio1 2,412 563 (53) 360 3,282
    AUM 55,723 17,043 49,451 360 122,577
    1 Includes elimination of $657m (£479m) within Credit due to how the balance sheet investment portfolio accounts for and invests into CLO’s managed by ICG and its affiliates

    AUM of $123bn

    AUM ($m) Structured Capital and Secondaries Real Assets Debt Seed investments Total
    At 1 April 2025 51,499 12,922 47,557 379 112,357
    Fundraising 1,933 1,355 154 — 3,442
    Other additions1 202 2,050 75 — 2,327
    Realisations (471) (233) (585) — (1,289)
    Market and other movements 2,607 889 2,218 — 5,714
    Balance sheet movement (47) 60 32 (19) 26
    At 30 June 2025 55,723 17,043 49,451 360 122,577
    Change $m 4,224 4,121 1,894 (19) 10,220
    Change %         8%                 32%                 4%                 (5)        %         9%        
    Change % (constant exchange rate)         3%                 21%                 (1)        %         —                 3%        
    1 Other additions within Real Assets includes $1.9bn non fee-eligible leverage capacity within certain Real Estate strategies

    Fee-earning AUM of $82bn

    Fee-earning AUM ($m) Structured Capital and Secondaries Real Assets Debt Total
    At 1 April 2025 36,086 7,711 31,330 75,127
    Funds raised: fees on committed capital 1,470 1,242 — 2,712
    Deployment of funds: fees on invested capital 281 162 1,235 1,678
    Total additions 1,751 1,404 1,235 4,390
    Realisations (456) (279) (774) (1,509)
    Net additions / (realisations) 1,295 1,125 461 2,881
    Stepdowns — — — —
    FX and other 1,966 539 1,681 4,186
    At 30 June 2025 39,347 9,375 33,472 82,194
    Change $m 3,261 1,664 2,142 7,067
    Change %         9%                 22%                 7%                 9%        
    Change % (constant exchange rate)         4%                 13%                 1%                 4%        

    FY26 fundraising1

    At 30 June 2025, closed-end funds and associated SMAs that were actively fundraising2 included Europe IX, Asia-Pacific Infrastructure I and Real Estate equity. We anticipate launching LP Secondaries II during FY26.

    1 The timings of launches and closes depend on a number of factors, including the prevailing market conditions
    2 Excluding Credit (CLOs and Liquid Credit)

     
    Balance sheet

    • Balance Sheet Investment Portfolio valued at £2.9bn
    • Total available liquidity of £1.1bn (FY25: £1.1bn) and net financial debt of £477m (FY25: £629m)

    FOREIGN EXCHANGE RATES

      Average rate Period end
      Q1 FY25 Q1 FY26 31 March 2025 30 June 2025
    GBP:EUR 1.1753 1.1759 1.1944 1.1652
    GBP:USD 1.2626 1.3507 1.2918 1.3732
    EUR:USD 1.0743 1.1488 1.0815 1.1785

    COMPANY TIMETABLE

    Half year results announcement 13 November 2025

    ENQUIRIES

    Shareholders and debtholders / analysts:  
    Chris Hunt, Head of Corporate Development and Shareholder Relations, ICG +44(0)20 3545 2020
    Media:  
    Clare Glynn, Head of Corporate Communications, ICG +44(0)79 3435 7794

    This results statement may contain forward looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this report and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward looking information.

    ABOUT ICG

    ICG (LSE: ICG) is a global alternative asset manager with $123bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets.

    Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.

    *As at 30 June 2025.

    The MIL Network –

  • MIL-OSI Asia-Pac: LCQ4: Measures to cope with economic downturn

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Paul Tse and a reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (July 16):

    Question:

         It has been reported that 300 enterprises in Hong Kong have ceased operation over the first half of this year. Quite a number of enterprises are facing cash flow difficulties, and some are even having their loan called in by the bank (an operation commonly known as “call loan”). Many members of the business sector are worried that, once unable to reverse the fiscal deficit, the Government will raise taxes significantly. Some academics have projected that the Government may need to raise the salaries tax rate to 26.5 per cent before fiscal balance can hopefully be achieved. Against a backdrop of uncertain economic prospects, instability in work income, and substantial increase in living and tax expenses, the public’s investment confidence and desire for consumption have been directly suppressed. In this connection, will the Government inform this Council:

    (1) whether it has examined if there are signs that the Government’s fiscal deficit has narrowed since the release of this year’s Budget and if there is room to reduce bond issuance volumes in the future;

    (2) in the light of the aforesaid worries of the business sector and members of the public about the economy and tax hikes, what policies or measures are put in place by the authorities to stabilise the confidence of various sectors; whether it can explicitly commit to not raising taxes; and

    (3) as it has been reported that a certain major property developer and a number of small and medium-sized developers in Hong Kong are facing operational crises, with some even defaulting on debts and being on the verge of closure, and foreign media have even described a certain major developer as “too big to fail”, so much so that in the event of a closure, it stands to pose a serious crisis to local banks, whether the Government has assessed the negative impact on the banking system, economic structure, unemployment rate, public confidence in investment, consumer sentiment and even government revenue in the event of successive closures of developers, and whether it has formulated counter-measures?

    Reply:

    President,

         Regarding the question raised by the Hon Paul Tse, I will first give a brief account of the latest developments of Hong Kong’s overall economic situation and the Government’s public finance strategies.

         The Hong Kong economy grew solidly. Real gross domestic product rose by 2.5 per cent in the full year of 2024 and the year-on-year increase in the first quarter of 2025 is 3.1 per cent, which is significantly higher than the 1.5 per cent average growth of G7 countries in the first quarter of 2025. As regards the stock market, the Hang Seng Index surged by a cumulative 20 per cent in the first half of the year. Our stock market trading as well as initial public offering was active. The average daily turnover for the first half of the year was around $240.2 billion, an increase of 118 per cent when compared with the same period last year. More than $107 billion was raised in the first half of the year, approximately 22 per cent more than the full-year total for last year and ranking first globally in the year-to-date. Nevertheless, certain sectors, such as traditional retail and catering, are still facing greater challenges due to changing consumption patterns of visitors and residents.

         On public finances, the 2025-26 Budget outlined a reinforced fiscal consolidation programme, focusing primarily on expenditure control, supplemented by revenue generation, to gradually restore balance to government accounts. According to the Medium Range Forecast (MRF), the Government’s Operating Account will largely achieve balance in 2025-26 and return to a surplus starting from 2026-27. The Capital Account is estimated to record a deficit in the MRF period due to the accelerated development of the Northern Metropolis and other capital works projects relating to the economy and people’s livelihood. Nevertheless, the level of deficit will decline year-on-year from 2026-27 onwards. After taking account of net proceeds from the issuance of bonds, the Consolidated Accounts will return to a surplus starting from 2028-29.

         As the question raised by Hon Paul Tse covers a wide range of issues, we have prepared a reply in consultation with the relevant bureaux and the Hong Kong Monetary Authority (HKMA) as follows:

    (1) Fiscal deficit and size of bond issuance

         A consolidated deficit of $67 billion is expected for this financial year. Due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year, it is premature at this juncture to project our full-year financial results. Nevertherless, the increase in trading volume of the stock market in the first half of the year has led to an increase in stamp duty revenue, rendering support to our public finances. Regarding the size of bond issuance, we have planned to issue a total of about $150 billion to $195 billion worth of bonds per annum under the Government Sustainable Bond Programme and the Infrastructure Bond Programme in the next five years. The size of bond issuance for the current financial year is estimated to be $150 billion. We have no intention to change this target at the present stage.

    (2) Economic and tax policy

         The Government has all along been adopting a multi-pronged approach to assist enterprises in meeting the challenges of economic restructuring, with a view to reinforcing their confidence in pursuing business development. As regards cash flow pressure, the Government helps small and medium enterprises (SMEs) obtain commercial loans by providing loan guarantees through the SME Financing Guarantee Scheme. Moreover, in the light of market and technological development trends, the Government supports enterprises (particularly SMEs) through Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), including its E-commerce Easy, the Export Marketing and Trade and Industrial Organisation Support Fund, etc, in upgrading and transformation, as well as tapping into the Mainland and overseas markets.

         It must be emphasised that the Government did not raise taxes substantially in the past few years, and has no plan to raise taxes substantially at present. The reinforced fiscal consolidation programme outlined in this year’s Budget also focuses primarily on expenditure control, to be supplemented by revenue generation. On identifying new revenue sources, our principles are to maintain the competitiveness of Hong Kong’s simple and low tax regime by avoiding considerable increase in tax rates or introduction of new taxes, and to uphold the “user pays” and “affordable users pay” principles as far as practicable whilst increasing revenue. The simple and low tax policy that Hong Kong has all alone been pursuing is one of Hong Kong’s core competitiveness. In the latest World Competitiveness Yearbook 2025 published by the International Institute for Management Development, Hong Kong’s competitiveness ranks third globally, in which Hong Kong tops the ranking in “tax policy”. Meanwhile, the Government continues to make strategic use of tax measures in different areas to promote the development of our industries and economic diversification, as well as to enhance Hong Kong’s business environment and competitiveness. As announced in this year’s Budget, we will provide half-rate tax concession for eligible commodity traders to drive the development of maritime services. It is also our plan to formulate proposals on the preferential tax regimes for funds, single family offices and carried interest this year to foster the development of the asset and wealth management industries.

    (3) Property related loans’ impact on banking system

         The HKMA has been closely monitoring the healthy development of Hong Kong’s banking sector. The Total Capital Ratio of locally-incorporated banks and the average Liquidity Coverage Ratio of the major banks were 24.2 per cent and 182.5 per cent respectively as at end-March this year, well above international standards. Overall, the credit risk associated with local property development and investment loans is manageable. A significant portion of the Hong Kong banks’ exposures relating to local property development and investment loans are to the large players with relatively good financial health. For exposures to small and medium-sized local property developers and investors, including some with weaker financials or higher gearing, banks have already taken credit risk mitigating measures early on, and most of these loans are secured. Besides, there is no concentration of risks at individual borrower level.

         The overall asset quality of the banking system is manageable and provisions remain sufficient. The provision coverage ratio (i.e. total of general and specific provisions as a percentage of non-performing loans) stand at around 60 per cent as at end-March this year. If taking into account and deducting the market value of collateral from the non-performing loans, the adjusted provision coverage ratio would be about 145 per cent. The HKMA will strive to maintain a sound banking system by continuing to keep a close watch on the global economic and trade conditions as well as the development of and risk changes in the real estate market, and maintaining close communication with the banking sector.

         Thank you, President.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Production Temporarily Suspended at DNO Kurdistan Fields Following Explosions

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 16 July 2025 – DNO ASA, the Norwegian oil and gas operator, reports that operations at its Tawke license in the Kurdistan region of Iraq have been temporarily suspended following three explosions early this morning, one involving a small storage tank at Tawke and the other involving surface processing equipment at Peshkabir. There have been no injuries. The damage assessment is underway and the Company expects to restart production once the assessment is completed.

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    –

    DNO ASA is a leading Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire and Yemen. More information is available at www.dno.no.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI Asia-Pac: LCQ11: Facilitating re-domiciliation of non-Hong Kong-registered enterprises to Hong Kong

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Edmund Wong and a written reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (July 16):
     
    Question:
     
         The Companies (Amendment) (No. 2) Bill 2024, which was passed on May 14 this year, seeks to introduce a company re-domiciliation regime (the Regime) that enables overseas-registered enterprises to transfer their domicile to Hong Kong without having to undergo winding-up procedures in their original domicile while preserving their legal identities. The Amendment Ordinance took effect on May 23 this year, and the Regime opened for applications on the same day. In this connection, will the Government inform this Council:
     
    (1) of the number of enquiries and applications received by the authorities from overseas enterprises regarding the Regime between May 23 and June 30 this year; the following information on such overseas enterprises applying for re-domiciliation to Hong Kong: (i) nature of business, (ii) company assets and scale, and (iii) original domicile;
     
    (2) whether it has estimated the average processing time from receipt of an application for re-domiciliation from an overseas enterprise to formal approval of the enterprise to establish a presence in Hong Kong (i.e. the successful transfer of its domicile to Hong Kong);
     
    (3) whether any overseas enterprises have successfully established a presence in Hong Kong through the Regime to date; if so, of the number of such enterprises, the nature of their business, their company assets and scale, as well as their original domicile; and
     
    (4) whether it will formulate a promotional plan to promote the Regime through Invest Hong Kong and overseas economic and trade offices to attract more overseas enterprises to apply for re-domiciliation to Hong Kong; if so, of the details of the plan (including the resources involved); if not, the reasons for that?
     
    Reply:
     
    President,
     
         The company re-domiciliation regime commenced on May 23, 2025. A company incorporated outside Hong Kong may apply to the Companies Registry (CR) for re-domiciliation to Hong Kong. The regime reduces the need to go through complicated and costly judicial procedures, and enables a re-domiciled company to maintain its legal identity as a body corporate, thereby ensuring business continuity. An applicant for company re-domiciliation is required to fulfil requirements concerning company background, integrity, member and creditor protection, solvency, etc.
     
         My consolidated reply to the four parts of the question is as follows:
     
         After the implementation of the re-domiciliation regime, two international insurance groups immediately announced their plans to re-domicile to Hong Kong, which is the best testament to the regime’s effectiveness in enhancing companies’ operational efficiency. As at July 11, 2025, the CR received 265 enquiries relating to re-domiciliation. The total number of visits and downloads at the thematic section of the CR’s website exceeded 22 000 and 42 000 respectively, reflecting the positive market response to the new company re-domiciliation regime in Hong Kong. As it takes time for companies planning to re-domicile to Hong Kong to prepare the application documents, and to fulfil the requirements of their place of incorporation and other relevant jurisdictions for the proposed re-domiciliation, the CR has not yet received any formal application for re-domiciliation to Hong Kong from non-Hong Kong enterprises. At the same time, some financial institutions and enterprises have contacted the Financial Services and the Treasury Bureau (FSTB) and expressed that they are preparing to apply for re-domiciliation to Hong Kong. According to the enquiries received by the CR, most of the companies interested in re-domiciliation are from offshore economies such as Bermuda, the Cayman Islands and the British Virgin Islands.
     
         The FSTB, the CR and financial regulators will actively provide appropriate support to applicants to assist with their re-domiciliation. Under normal circumstances, the CR will complete the approval process within two weeks after an applicant has submitted all the required documents and information. On the day of issuance of a certificate of re-domiciliation, the applicant becomes a re-domiciled company and is regarded as a Hong Kong-incorporated company from the same date. The re-domiciled company is then required to complete the deregistration procedures at its place of incorporation within 120 days. The re-domiciled company may make an application to the CR to extend the 120-day period subject to any conditions the Registrar of Companies considers appropriate.
     
         The CR has set up a thematic section on its website, containing the Guide on Company Re-domiciliation, application form and frequently asked questions. The FSTB, in conjunction with the CR and the Inland Revenue Department, has proactively reached out to professional organisations and chambers of commerce, and organised briefings to introduce the content, application details and taxation arrangements of the company re-domiciliation regime. We will continue to work with Invest Hong Kong, the Economic and Trade Offices and the Hong Kong Exchanges and Clearing Limited to conduct external publicity and promotion with a view to attracting major Hong Kong-listed companies and other companies registered outside Hong Kong to make good use of the company re-domiciliation regime, and to maximising the regime’s benefits of attracting more companies, capital and talents to Hong Kong, thereby contributing to the development of the local economy. The publicity work is currently undertaken by the FSTB and the relevant departments respectively with their existing staff establishment.

    MIL OSI Asia Pacific News –

  • US launches probe into Brazil’s trade practices, digital payment services

    Source: Government of India

    Source: Government of India (4)

    U.S. Trade Representative Jamieson Greer said on Tuesday he had launched an investigation into Brazil’s “unfair” trading practices, a week after President Donald Trump threatened a 50% tariff on imports from Latin America’s largest economy.

    Trump’s trade war, launched since starting his second term in January, sets tariffs on nearly all U.S. trading partners, aiming to reorder the global economy and end decades of what he calls discrimination against the United States.

    The USTR investigation, announced last week by Trump, will decide if Brazil’s treatment of digital trade and preferential tariffs, among others, is “unreasonable or discriminatory and burdens or restrict” U.S. commerce, Greer said.

    “At President Trump’s direction, I am launching a Section 301 investigation into Brazil’s attacks,” he added in a statement.

    Among victims of such attacks he cited U.S. social media and other companies, as well as workers, farmers, and technology innovators he described as harmed by Brazil’s “unfair trading practices”.

    Following extensive consultations, Greer added, “I have determined that Brazil’s tariff and non-tariff barriers merit a thorough investigation, and potentially, responsive action.”

    Trump justified his 50% tariff from August 1, well above the rate of 10% initially proposed, with a demand for an end to the trial of former President Jair Bolsonaro for allegedly plotting a coup.

    The high tariff for Brazil surprised many trade experts since its U.S. goods imports exceed its exports, and because Trump linked the rate so clearly to Bolsonaro’s trial.

    Brazil offered no immediate reaction to news of the U.S. investigation. On Monday, Vice President Geraldo Alckmin said it had yet to receive a response from Washington to an offer it made in trade talks two months ago.

    During his first term, Trump used Section 301 of the Trade Act of 1974 to justify a spate of tariffs against China. It was also used to investigate other countries for digital services taxes on U.S. tech firms.

    In a statement, USTR said Brazil disadvantaged U.S. firms by setting lower tariffs on exports of other trading partners and accused it of failing to battle corruption.

    It added that Brazil also charged substantially higher tariffs on U.S. ethanol exports, and “appears to be failing” to enforce laws against illegal deforestation, which it said harmed the competitiveness of U.S. timber producers.

    (Reuters)

  • Trump sets 19% tariff on Indonesia goods in latest deal, EU readies retaliation

    Source: Government of India

    Source: Government of India (4)

    President Donald Trump on Tuesday said the U.S. would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were coming, while offering fresh details on planned duties on pharmaceuticals.

    Trump announced the pact with Indonesia, a relatively minor U.S. trading partner, as he continued to press for what he views as better terms with trading partners and ways to shrink a huge U.S. trade deficit. Letters setting tariff rates for dozens of smaller countries were also coming soon, he said on Tuesday.

    The deal with Indonesia is among the handful struck so far by the Trump administration ahead of an August 1 deadline when duties on most U.S. imports are due to rise again. The accord came as the top U.S. trading partner – the European Union – readied retaliatory measures should talks with Washington fail.

    As that deadline approached, negotiations were under way with other nations eager to avoid more U.S. levies beyond a baseline 10% on most goods that has been in place since April.

    Trump’s roll-out of the policies has often been chaotic. His moves have upended decades of negotiated reductions in global trade barriers, unsettling international financial markets and threatening a new wave of inflation.

    Based on Trump tariff announcements through Sunday, Yale Budget Lab estimated the U.S. effective average tariff rates will rise to 20.6% from between 2% and 3% before Trump’s return to the White House in January. Consumption shifts would bring the rate down to 19.7%, but it’s still the highest since 1933.

    Trump outlined an Indonesia deal similar to a preliminary pact struck recently with Vietnam, with a flat tariff on exports to the U.S. roughly double the current 10% and no levies on U.S. exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia and a commitment to buy some U.S. goods.

    “They are going to pay 19% and we are going to pay nothing … we will have full access into Indonesia, and we have a couple of those deals that are going to be announced,” Trump said outside the Oval Office. Trump later said on his Truth Social platform that Indonesia had agreed to buy $15 billion of U.S. energy products, $4.5 billion of American farm products and 50 Boeing BA.N jets, though no time frame was specified.

    He told reporters the deal with Vietnam was “pretty well set” but said it was not necessary to release details.

    TRUMP: INDIA TALKS MOVING SAME WAY

    Indonesia’s total trade with the U.S. – totalling just under $40 billion in 2024 – does not rank in the top 15, but it has been growing. U.S. exports to Indonesia rose 3.7% last year, while imports from there were up 4.8%, leaving the U.S. with a goods trade deficit of nearly $18 billion.

    The top U.S. import categories from Indonesia, according to U.S. Census Bureau data from the International Trade Centre’s TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tires, natural rubber and frozen shrimp.

    Susiwijono Moegiarso, a senior official with Indonesia’s Coordinating Ministry for Economic Affairs, told Reuters in a text message: “We are preparing a joint statement between U.S. and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon.”

    Trump had threatened the country with a 32% tariff rate starting August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, laying out tariff rates ranging from 20% to 50%, plus a 50% tariff on copper.

    Speaking in Pittsburgh on Tuesday, Trump said he favored blanket tariffs over complicated negotiations, but his Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were keen to land more trade agreements.

    Upon his arrival back in Washington, Trump told reporters that letters would be going out soon for many smaller countries, suggesting they would face a tariff of “a little over 10%.”

    He said his administration would also announce tariffs on pharmaceuticals imported into the United States, probably at the end of the month, starting with what he called a low tariff rate to give companies time to move manufacturing to the U.S. before imposing a “very high tariff” in a year or so.

    The August 1 deadline gives targeted countries time to negotiate about lower tariff rates. Some economists have also noted Trump’s pattern of backing off his tariff threats.

    Since launching his tariff policy, Trump has clinched only a few “framework” agreements, falling short of earlier promises to land “90 deals in 90 days.”

    So far, such deals have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump’s tariffs while negotiations continue between Washington and Beijing.

    Trump said talks with India were moving “along that same line,” saying the agreement would give U.S. firms access to the large Indian market.

    EU READIES RETALIATION

    The breakthrough with Indonesia came as the European Commission, which oversees trade for the EU, prepared to target 72 billion euros ($84.1 billion) worth of U.S. goods – from Boeing BA.N aircraft and bourbon whiskey to cars – for possible tariffs if trade talks with Washington fail.

    Trump has threatened a 30% tariff on imports from the EU from August 1, a level European officials say is unacceptable and would end normal trade between two of the world’s largest markets.

    The list, sent to EU member states and seen by Reuters on Tuesday, pre-dated Trump’s move over the weekend to ramp up pressure on the 27-nation bloc and responded instead to U.S. duties on cars and car parts and a 10% baseline tariff.

    The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products – a range of fruits and vegetables, along with wine, beer and spirits – valued at 6.35 billion euros.

    (Reuters)

  • MIL-OSI China: Chinese premier calls on China, Australia to create stronger synergy for development

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

    Chinese premier calls on China, Australia to create stronger synergy for development

    Chinese Premier Li Qiang attends the 8th China-Australia CEO Roundtable with Australian Prime Minister Anthony Albanese at the Great Hall of the People in Beijing, capital of China, July 15, 2025. [Photo/Xinhua]

    BEIJING, July 15 — Chinese Premier Li Qiang on Tuesday called on China and Australia to further strengthen cooperation, promote the liberalization and facilitation of trade and investment, and create a stronger synergy for development to effectively address uncertainties.

    Li made the remarks while attending the 8th China-Australia CEO Roundtable with Australian Prime Minister Anthony Albanese in Beijing.

    Around 30 representatives of business councils and enterprises from the two countries attended the roundtable.

    Noting that this year marks the 10th anniversary of the China-Australia Free Trade Agreement, Li said over the past decade, China-Australia economic and trade cooperation has demonstrated considerable resilience and vitality.

    The economic structures of the two countries are highly complementary, and the foundations for industrial and market integration are solid, making China and Australia natural partners, Li said.

    Li said China’s vast market will continuously unleash immense consumption potential, creating more opportunities for enterprises from both countries. He called on the two sides to strengthen collaboration in cutting-edge technologies such as artificial intelligence and life sciences to better empower the industries of both countries.

    By working together, enterprises from both countries can accelerate cooperation in clean energy, electric vehicles, and energy storage, ultimately building a world-class green industrial chain that is both resilient and competitive, he added.

    Li emphasized that both the government and enterprises should work together to better promote development. China will continue to advance high-level opening-up, treat domestic and foreign-funded enterprises equally, and legally protect the rights and interests of foreign companies and entrepreneurs in China, he said.

    It is hoped that Australia would treat Chinese enterprises fairly, addressing issues regarding market access and investment reviews, he added.

    Li urged Chinese and Australian companies to maintain openness, embrace cooperation, and deepen their efforts to promote market integration and industrial collaboration.

    When addressing the roundtable, Albanese said the current bilateral relations are steadily developing, with enthusiasm for cooperation soaring among the business communities of both countries.

    The Australian side is willing to enhance dialogue with the Chinese side, expand cooperation in various fields including trade, agriculture, industry, energy resources, and green development, address global challenges such as climate change and uphold international equity and free trade. 

    Chinese Premier Li Qiang attends the 8th China-Australia CEO Roundtable with Australian Prime Minister Anthony Albanese at the Great Hall of the People in Beijing, capital of China, July 15, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: China, Australia sign MoU to implement, review free trade agreement

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

    BEIJING, July 16 — China and Australia signed a memorandum of understanding (MoU) on the implementation and review of China-Australia Free Trade Agreement on Tuesday, according to the Chinese Ministry of Commerce (MOC).

    The document was signed by Chinese Commerce Minister Wang Wentao and Australian Secretary of the Department of Foreign Affairs and Trade Jan Adams, witnessed by Chinese Premier Li Qiang and Australian Prime Minister Anthony Albanese.

    Since its entry into force in 2015, the free trade agreement has significantly boosted bilateral economic and trade relations, delivering substantial benefits to both sides, said the MOC.

    As 2025 marks the 10th anniversary of the agreement, the two countries will maintain close cooperation, continue high-quality implementation of the agreement, and jointly conduct a review to identify areas for further improvement or expansion, the MOC said.

    This will enhance trade and investment liberalization and facilitation, providing a higher level of institutional support for bilateral economic and trade cooperation, the MOC said.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Speech by SCST at Publishing 3.0+ Launch Ceremony (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at the Publishing 3.0+ Launch Ceremony today (July 16):

    Kenneth (Member of the Legislative Council and the Chairman of Publishing 3.0+, Mr Kenneth Fok), Duncan (Member of the Legislative Council and the Chairman of Publishing 3.0+, Mr Duncan Chiu), Sharon (Executive Director of the Hong Kong Reprographic Rights Licensing Society and the Chairman of Publishing 3.0+, Dr Sharon Wong), Mr Rashid Al Kous (Executive Director of the Emirates Publishers Association), distinguished guests, ladies and gentlemen, 

    Good morning. It is my great pleasure to officially launch Publishing 3.0+ with industry practitioners, scholars, experts and authors. And let me also extend my warmest welcome to Mr Rashid Al Kous, coming all the way from the United Arab Emirates, and our distinguished guests here from overseas copyright organisations around the world.

    Three years ago, the then Create Hong Kong, which is now restructured as the Cultural and Creative Industries Development Agency, CCIDA, under my bureau, began sponsoring and steering the Publishing 3.0 project, as a touchstone of an in-depth application of artificial intelligence (AI) to the publishing industry, enabling the extensive production of e-books and audiobooks. The project enabled around 60 Hong Kong publishers to successfully convert paper publications into 5 000 bilingual e-books and audiobooks in Cantonese, Putonghua and English, seizing the tremendous opportunity of digital transformation.  

    Publishing 3.0+ builds on the success of its predecessor. This enhanced project will focus on large language models within the AI-driven system, and further strengthen its multilingual translation and content conversion capabilities, empower local publishers to convert Chinese books into multi-languages, and open doors to a global readership. Publishing 3.0+ will refine the e-books and audiobooks converted over the past years, and further deliver another 5 000 translated and converted copies of books.

    The fruitful expected outcome of 10 000 e-books and audiobooks will be showcased in the Hong Kong pavilions at various international book fairs in the coming months. We will further leverage the Hong Kong Trade Development Council (HKTDC)’s Asia IP Exchange, AsiaIPEX, to facilitate and encourage the industry to tap into the vast opportunities of copyright trading.

    President Xi Jinping has emphasised that literature and art serve as bridges of mutual understanding and communication among different countries and ethnic groups. With a considerable amount of foreign classics on his reading list, President Xi repeatedly shared his deep and inseparable bond with books on international occasions when meeting foreign friends. We see that books are media that help foster friendships and exchanges between cultures. 

    With the great delight of having our Middle East friend here today, may I share our exciting plan that Publishing 3.0+ will soon expand to include Arabic translation. During my official visit to the Middle East in April this year, I was deeply impressed by the region’s rich cultural and historical heritage. I am most delighted that Publishing 3.0+ will contribute to our effort to realising closer cultural links and friendship between the Middle East and Hong Kong, aligning the shared visions of both regions.

    Publishing 3.0+ is a collaboration of multiple parties. I would like to express my heartfelt appreciation to Kenneth, Duncan and Sharon, the founder of InnoContent, whose unique blend of cultural insight, technological innovation and publishing expertise has been instrumental in realising this project. My special thanks also go to SenseTime for its unparalleled AI expertise and infrastructure, which enhance the system’s capabilities, and the Hong Kong Publishing Federation, the Hong Kong Reprographic Rights Licensing Society, and the Logistics and Supply Chain MultiTech R&D Centre for their unwavering support since the last project, and the HKTDC for its efforts in the intellectual property trading.

    Before I close, I wish Publishing 3.0+ a striking success under the collaborative efforts by the Government, the publishing industry and technology partners. I look forward to seeing Hong Kong’s AI-driven publishing sector reaches new heights, telling the good story of Hong Kong. Through this initiative, we will showcase creativity, vitality, and innovation in the age of new media. 

    Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Reps. Massie, Khanna Seek House Vote on Public Release of Jeffrey Epstein Files

    Source: United States House of Representatives – Congressman Thomas Massie (4th District of Kentucky)

    For Immediate Release
    Contact: massie.press@mail.house.gov
    Contact #: 202-225-3465

    Washington, D.C.- Representative Thomas Massie (R-KY) announces that he has introduced the bipartisan Epstein Files Transparency Act (EFTA), which would force the House of Representatives to vote on the complete release of the government’s files related to Jeffrey Epstein. If EFTA is not considered by the House within seven legislative days, a discharge petition will be circulated.

    “We all deserve to know what’s in the Epstein files, who’s implicated, and how deep this corruption goes,” said Rep. Thomas Massie. “Americans were promised justice and transparency. We’re introducing a discharge petition to force a vote in the U.S. House of Representatives on releasing the complete files. If your Representative won’t sign the discharge petition, ask why.”

    A discharge petition is a procedural tool for bypassing House leadership. When the petition is signed by 218 Members, the House must vote on the Epstein Files Transparency Act. Rep. Ro Khanna (D-CA) is an original cosponsor of the Massie resolution and will be assisting in the effort to collect Member signatures.

    The text of H.Res.581, the Epstein Files Transparency Act, is available here. 

    ###

    MIL OSI USA News –

  • MIL-OSI China: China ready to deepen, expand bilateral cooperation with Australia: Chinese premier

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

    Chinese Premier Li Qiang and Australian Prime Minister Anthony Albanese, who is on an official visit to China, hold the 10th China-Australia Annual Leaders’ Meeting at the Great Hall of the People in Beijing, capital of China, July 15, 2025. [Photo/Xinhua]

    Chinese Premier Li Qiang on Tuesday said that China is ready to work with Australia to further deepen and expand bilateral cooperation, aiming for a higher level of mutual benefit that better serves the interests of both peoples.

    Li made the remarks during the 10th China-Australia Annual Leaders’ Meeting with Australian Prime Minister Anthony Albanese in Beijing.

    All countries are facing new challenges in their development amid rising instability and uncertainty in the global economy, Li said, adding that in this context, the significance of strengthening exchanges and cooperation between China and Australia, as major economic and trade partners, has become more prominent.

    Li noted that earlier in the day, Chinese President Xi Jinping met with Prime Minister Albanese and reached an important consensus on further deepening China-Australia relations.

    Li said that the Chinese and Australian economies are highly complementary, with broad space for cooperation in areas such as energy resources, agricultural products, green development, and technological innovation.

    China is willing to fully utilize various dialogue mechanisms with the Australian side and strengthen the planning and design for cooperation across different sectors to explore more shared interests and new drivers of economic growth, and ultimately unlock the vast potential of bilateral economic and trade cooperation, Li added.

    It is hoped that Australia will provide a fair, open and non-discriminatory business environment for Chinese enterprises operating in Australia, Li said, adding that China is keen to provide vigorous support for exchanges in culture, education, tourism and regional collaboration, and further facilitate personnel exchanges between the two sides.

    Li said that China and Australia, as both advocates and beneficiaries of multilateralism and free trade, are active promoters of cooperation in the Asia-Pacific region. He urged the two sides to strengthen communication and collaboration within multilateral frameworks, maintain the rules-based multilateral trading system, and work together to foster a conducive environment for international economic and trade cooperation.

    Noting that Australia-China relations are currently developing with positive momentum, Albanese said the Australian side attaches great importance to and is committed to building a stable and constructive bilateral relationship with China. Australia adheres to the one-China policy and opposes “Taiwan independence,” he added.

    Albanese said Australia is willing to strengthen high-level exchanges and dialogue with China in various fields, including diplomacy and trade, and ensure that differences do not define the bilateral relationship.

    Noting that the economies of Australia and China are highly complementary, Albanese said Australia looks forward to deepening mutually beneficial cooperation in areas such as trade, agriculture, tourism and culture, and enhancing people-to-people exchanges in education, civil society and youth sectors.

    Australia is willing to provide a stable and predictable environment for Chinese enterprises to invest and operate in Australia, and welcomes more Chinese students and tourists to visit the country, he added.

    Albanese said Australia firmly supports multilateralism and free and fair trade, is willing to work with China to address global challenges such as climate change, and jointly safeguard the multilateral trading system with the World Trade Organization at its core. 

    MIL OSI China News –

  • MIL-OSI USA: Reed Helps Introduce Consumer OPT-IN Act Designed to Ease Unsubscribing

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – When it comes to companies offering ‘free trials’ for subscription services, U.S. Senator Jack Reed (D-RI) says they should actually be free.  And when it comes time to cancel unwanted recurring subscriptions, Senator Reed says it should be just as simple to cancel as it was to sign up.
    Today, Reed joined U.S. Senator Chris Van Hollen (D-MD) in introducing the Consumer Online Payment Transparency and Integrity (Consumer OPT-IN) Act to halt the use of unfair and deceptive practices in ‘negative option marketing’ (where consumers enroll in subscription plans that automatically renew unless consumers actively opt out before a given renewal).  This legislation would help protect consumers from online ‘free trial’ scams and hard-to-cancel recurring-payment programs by requiring companies with customers on recurring payment programs to offer easy online cancellation.
    The bill puts the onus on companies, not consumers, when it comes to extending subscriptions and memberships, including requiring a shift from “opt-out” conditions to “opt-in.” 
    The lawmakers say Congress must act in the wake of the U.S. Court of Appeals for the Eighth Circuit ruling last week that vacated the Federal Trade Commission’s (FTC) 2023 ‘click to cancel’ rule, which would have taken effect today and complemented this legislation by making it easier to get out of unwanted subscriptions. As a result of this ruling, businesses are free to continue using deceitful practices that trap consumers into making recurring payments that they never intended to make – underscoring the need to codify into law the “opt-in” requirements in this legislation.
    “While companies have made it easier than ever to sign up for subscription-based services, too many Americans know the frustration of jumping through endless hoops to get out of them. Corporate special interests are pushing to preserve the status quo so they can pad their profits by keeping consumers locked into unwanted subscriptions, but we will keep fighting back. Our legislation puts consumers in control – offering them an easy way out of subscription traps and holding companies accountable for these deceptive practices,” said Senator Van Hollen.
    “This legislation will make it easier for consumers to cancel subscriptions they don’t want. The process of enrolling and cancelling should be equally simple: If one click can sign you up, then you should be able to cancel with one click too,” said Senator Reed. “Simplifying the process for ending ‘free trials’ or unwanted subscriptions will save consumers real money.  This bill will get rid of needless cancellation hurdles, hold corporations accountable, and save consumers time, money, and peace of mind.”
    Companies increasingly use free trial offers and unclear terms and conditions to trap consumers into subscriptions. Additionally, companies often use software and interfaces that subtly trick users, called dark patterns, making it harder for consumers to end these subscriptions and stop unwanted charges. While the FTC has dedicated significant resources to combatting the worst of these business practices, resulting in at least $110 million worth of refunds returned to consumers over the past five years, more action is needed. To more effectively deter companies from employing these practices and better protect and inform consumers, the Consumer OPT-IN Act would limit the use of deceptive tactics and impose stricter notification requirements on companies.
    To better protect and inform consumers, the Consumer OPT-IN Act would limit the use of deceptive tactics and impose stricter notification requirements on companies. It will protect consumers from deceptive free trials and marketing tactics by:
    •           Requiring companies to get express informed consent from consumers before converting free trials into automatically renewing contracts and charging consumers;
    •           Requiring companies to notify consumers of the first automatic renewal and obtain express informed consent from consumers before automatically renewing long term contracts;
    •           Requiring that companies offering contracts that automatically renew on a short-term basis get express informed consent from consumers annually;
    •           Requiring companies that have knowledge that a consumer isn’t using their products or service for 6 months to get the consumer’s express informed consent to continue billing, and allowing consumers to request a refund for the remaining portion of the contract;
    •           Providing consumers with refunds when violations occur;
    •           Giving the FTC rulemaking authority over negative option contracts, automatic renewals, and dark patterns.
    In addition to Van Hollen and Reed, the bill is also cosponsored by U.S. Senators Richard Blumenthal (D-CT), John Fetterman (D-PA), Kirsten Gillibrand (D-NY), Mazie Hirono (D-HI), Ben Ray Luján (D-NM), Jeff Merkley (D-OR), Bernie Sanders (I-VT), Peter Welch (D-VT), and Ron Wyden (D-OR).
    The Consumer OPT-IN Act has been endorsed by Public Citizen, National Consumer Law Center, Consumer Action, Americans for Financial Reform, and American Economic Liberties Project.
    Consumers who feel they have been unfairly charged for an unwanted subscription or if a company used deceptive tactics to prevent them from cancelling may report it to the FTC: https://reportfraud.ftc.gov
    Companion legislation is being introduced in the U.S. House of Representatives by Congresswoman Yvette D. Clarke (D-NY-9).

    MIL OSI USA News –

  • MIL-OSI Economics: Apple lands record-breaking 81 Emmy Award nominations with Severance leading

    Source: Apple

    Headline: Apple lands record-breaking 81 Emmy Award nominations with Severance leading

    July 15, 2025

    PRESS RELEASE

    Apple lands record-breaking 81 Emmy Award nominations, with Severance leading as this year’s most-nominated series and The Studio becoming the most-nominated freshman comedy in history

    Global phenomenon Severance scores 27 nominations for hit second season, including Outstanding Drama Series and nine performance category nominations

    Breakout comedy The Studio sweeps with 23 nominations, including Outstanding Comedy Series, making history with the most nominations for a freshman comedy and most overall acting nominations this year

    Apple TV+ leads as the only network to land multiple title nominations across Outstanding Comedy and Drama Series categories, as The Studio, Severance, Slow Horses, and Shrinking land top program nominations, alongside Apple’s first-ever Outstanding Television Movie nod for The Gorge

    Apple also lands the most acting nominations of any network or studio this year, with 31 performance nods total

    Apple Originals honored with nominations across 14 titles, including Severance, The Studio, Slow Horses, Shrinking, Presumed Innocent, The Gorge, Bad Sisters, Dope Thief, Disclaimer, Pachinko, Your Friends & Neighbors, Dark Matter, Deaf President Now!, and Bono: Stories of Surrender

    CULVER CITY, CALIFORNIA Apple TV+ today earned a record-breaking 81 Emmy Award nominations across 14 hit Apple Original titles for this year’s 77th Emmy Awards. Severance became this year’s most-nominated series with 27 nominations, and The Studio made history as the most-nominated freshman comedy series with 23 nominations in total. Additionally, with top program nominations for drama (Slow Horses) and comedy (Shrinking), Apple TV+ became the only network to have multiple titles nominated in the Outstanding Comedy and Drama Series categories. Apple also landed the most acting nominations of any network or studio this year, with 31 performance nods total.

    “Everyone at Apple is celebrating the talent, creativity, and hard work of all of our Emmy nominees this morning,” said Zack Van Amburg, Apple’s head of Worldwide Video. “Severance and The Studio have exceeded our wildest expectations in earning the most nominations for both drama and comedy series, alongside the phenomenal Shrinking and Slow Horses. These shows have connected deeply with audiences around the world, and we’re incredibly appreciative to the Television Academy for recognizing the breadth of storytelling that has been an honor for us to champion. We send our warmest congratulations to all of today’s nominees.”

    “This record-breaking year is a milestone for Apple, and we’re especially proud of the continued impact our outstanding series nominees — Severance, The Studio, Shrinking, and Slow Horses — are having on global culture,” said Jamie Erlicht, Apple’s Head of Worldwide Video. “These nominations honor bold storytelling, exceptional performances, and remarkable craftsmanship, and we’re deeply grateful to the Television Academy for recognizing these visionary creators.”

    Severance dominates as the most-nominated series this year, with 27 overall nominations, including Outstanding Drama, Outstanding Lead Actor for Adam Scott, Outstanding Lead Actress for Britt Lower, Outstanding Directing for Ben Stiller and Jessica Lee Gagné, Outstanding Writing for Dan Erickson, alongside recognition for outstanding performances by Zach Cherry, Tramell Tillman, John Turturro, Patricia Arquette, Jane Alexander, Gwendoline Christie, and Merritt Wever, as well as nods across several craft categories.

    As the most-nominated freshman comedy series in history, in addition to Outstanding Comedy, The Studio scores Outstanding Lead Actor, Directing, and Writing for Seth Rogen; Outstanding Supporting Actor for Ike Barinholtz; and Outstanding Supporting Actress for Kathryn Hahn and Catherine O’Hara. It also earned five of the six nominations in the Outstanding Guest Actor category, including first-ever acting nominations for directors Martin Scorsese and Ron Howard, alongside Bryan Cranston, Dave Franco, and Anthony Mackie, plus an Outstanding Guest Actress nomination for Zoë Kravitz.

    In its sophomore season, Apple’s beloved Shrinking nabs its first-ever nomination for Outstanding Comedy Series, and Harrison Ford is recognized with his first Emmy Award nomination for his celebrated performance in the series. Jason Segel nabs Outstanding Lead Actor in a Comedy, alongside Outstanding Supporting Actor and Actress nominations for Michael Urie and Jessica Williams, respectively.

    Following last year’s Emmy Award win for Outstanding Writing for a Drama Series, Slow Horses lands nominations for Outstanding Drama, Outstanding Lead Actor for Sir Gary Oldman, Outstanding Directing for Adam Randall, Outstanding Casting, and Outstanding Writing for a Drama Series for Will Smith.

    Apple Original Films’ The Gorge lands the first Outstanding Television Movie nomination for Apple TV+, as Apple Original documentaries Deaf President Now! and Bono: Stories of Surrender are also recognized.

    Apple TV+ series stars lead with the most performance nominations overall, earning 31 acting category nominations, including 10 top acting nominations for acclaimed performances in The Studio, nine nominations for the stars and guest stars of Severance, and four nominations each for performances in Shrinking and Presumed Innocent. Dope Thief star Brian Tyree Henry also scores a nomination for Outstanding Lead Actor in a Limited or Anthology Series or Movie, as Sir Gary Oldman lands his second nomination for Outstanding Lead Actor in a Drama Series for Slow Horses, and Sharon Horgan is recognized with her second nomination for Outstanding Lead Actress in a Drama Series for the BAFTA Award-winning Bad Sisters.

    The nominations were announced today by the Television Academy, and the winners will be unveiled at the Creative Arts ceremonies on September 6 and 7, and the Primetime Emmy Awards ceremony on September 14, 2025.

    To date, Apple Original films, documentaries, and series have earned 580 wins and 2,761 award nominations and counting, including multi-Emmy Award-winning comedy Ted Lasso and historic Oscar Best Picture winner CODA.

    In total, Apple scores 81 Emmy Award nominations, including:

    Severance (27)

    • Outstanding Drama Series
    • Outstanding Lead Actor in a Drama Series: Adam Scott
    • Outstanding Lead Actress in a Drama Series: Britt Lower
    • Outstanding Supporting Actor in a Drama Series: Zach Cherry
    • Outstanding Supporting Actor in a Drama Series: Tramell Tillman
    • Outstanding Supporting Actor in a Drama Series: John Turturro
    • Outstanding Supporting Actress in a Drama Series: Patricia Arquette
    • Outstanding Guest Actress in a Drama Series: Jane Alexander
    • Outstanding Guest Actress in a Drama Series: Gwendoline Christie
    • Outstanding Guest Actress in a Drama Series: Merritt Wever
    • Outstanding Directing for a Drama Series: Jessica Lee Gagné
    • Outstanding Directing for a Drama Series: Ben Stiller
    • Outstanding Writing for a Drama Series: Dan Erickson
    • Outstanding Production Design for a Narrative Contemporary Program (One Hour or More)
    • Outstanding Music Composition for a Series (Original Dramatic Score)
    • Outstanding Casting For A Drama Series 
    • Outstanding Choreography For Scripted Programming 
    • Outstanding Cinematography For A Series (One Hour)
    • Outstanding Picture Editing For A Drama Series (X3)
    • Outstanding Title Design
    • Outstanding Music Supervision
    • Outstanding Sound Editing For A Comedy Or Drama Series (One Hour)
    • Outstanding Sound Mixing For A Comedy Or Drama Series (One Hour)
    • Outstanding Special Visual Effects In A Single Episode
    • Outstanding Stunt Performance

    The Studio (23)

    • Outstanding Comedy Series
    • Outstanding Lead Actor in a Comedy Series: Seth Rogen
    • Outstanding Supporting Actor in a Comedy Series: Ike Barinholtz
    • Outstanding Supporting Actress in a Comedy Series: Kathryn Hahn
    • Outstanding Supporting Actress in a Comedy Series: Catherine O’Hara
    • Outstanding Guest Actor in a Comedy Series: Bryan Cranston
    • Outstanding Guest Actor in a Comedy Series: Dave Franco
    • Outstanding Guest Actor in a Comedy Series: Ron Howard
    • Outstanding Guest Actor in a Comedy Series: Anthony Mackie
    • Outstanding Guest Actor in a Comedy Series: Martin Scorsese
    • Outstanding Guest Actress in a Comedy Series: Zoë Kravitz
    • Outstanding Directing for a Comedy Series: Seth Rogen, Evan Goldberg
    • Outstanding Writing for a Comedy Series: Seth Rogen, Evan Goldberg, Peter Heck, Alex Gregory, Frida Perez
    • Outstanding Production Design for a Narrative Program (Half-Hour)
    • Outstanding Casting For A Comedy Series
    • Outstanding Cinematography For A Series (Half-Hour)
    • Outstanding Contemporary Costumes For A Series
    • Outstanding Picture Editing For A Single Camera Comedy Series
    • Outstanding Contemporary Hairstyling 
    • Outstanding Music Composition for a Series (Original Dramatic Score)
    • Outstanding Music Supervision
    • Outstanding Sound Editing For A Comedy Or Drama Series (Half-Hour)
    • Outstanding Sound Mixing For A Comedy Or Drama Series (Half-Hour) And Animation

    Shrinking (7)

    • Outstanding Comedy Series
    • Outstanding Lead Actor in a Comedy Series: Jason Segel
    • Outstanding Supporting Actor in a Comedy Series: Harrison Ford
    • Outstanding Supporting Actor in a Comedy Series: Michael Urie
    • Outstanding Supporting Actress in a Comedy Series: Jessica Williams
    • Outstanding Casting For A Comedy Series
    • Outstanding Sound Mixing For A Comedy Or Drama Series (Half-Hour) And Animation

    Slow Horses (5)

    • Outstanding Drama Series
    • Outstanding Lead Actor in a Drama Series: Gary Oldman
    • Outstanding Writing for a Drama Series: Will Smith
    • Outstanding Directing for a Drama Series: Adam Randall
    • Outstanding Casting For A Drama Series

    Presumed Innocent (4)

    • Outstanding Lead Actor in a Limited or Anthology Series or Movie: Jake Gyllenhaal
    • Outstanding Supporting Actor in a Limited or Anthology Series or Movie: Bill Camp
    • Outstanding Supporting Actor in a Limited or Anthology Series or Movie: Peter Sarsgaard
    • Outstanding Supporting Actress in a Limited or Anthology Series or Movie: Ruth Negga

    Disclaimer (2)

    • Outstanding Lead Actress in a Limited or Anthology Series or Movie: Cate Blanchett
    • Outstanding Cinematography For A Limited Or Anthology Series or Movie

    Bad Sisters (1)

    • Outstanding Lead Actress in a Drama Series: Sharon Horgan

    Dope Thief (1)

    • Outstanding Lead Actor in a Limited or Anthology Series or Movie: Brian Tyree Henry

    The Gorge (2)

    • Outstanding Television Movie
    • Outstanding Sound Editing For A Limited Or Anthology Series, Movie Or Special

    Deaf President Now! (2)

    • Outstanding Documentary or Nonfiction Special
    • Outstanding Directing For A Documentary/Nonfiction Program: Nyle DiMarco, Davis Guggenheim

    Pachinko (2)

    • Outstanding Production Design for a Narrative Period or Fantasy Program (One Hour or More)
    • Outstanding Cinematography For A Series (One Hour)

    Your Friends & Neighbors (1)

    • Outstanding Original Main Title Theme Music

    Bono: Stories of Surrender (1)

    • Outstanding Technical Direction and Camerawork For A Special

    Dark Matter (1)

    • Outstanding Title Design

    Nominees for Outstanding Commercial (2)

    • “Heartstrings” — Apple AirPods Pro
    • “Flock” — Apple Privacy

    Severance
    In Severance, Mark Scout (Adam Scott) leads a team at Lumon Industries, whose employees have undergone a severance procedure that surgically divides their memories between their work and personal lives. This daring experiment in “work-life balance” is called into question as Mark finds himself at the center of an unraveling mystery that will force him to confront the true nature of his work … and of himself. In season two, Mark and his friends learn the dire consequences of trifling with the severance barrier, leading them further down a path of woe.

    The Studio
    In The Studio, Seth Rogen stars as Matt Remick, the newly appointed head of embattled Continental Studios. As movies struggle to stay alive and relevant, Matt and his core team of infighting executives battle their insecurities as they wrangle narcissistic artists and craven corporate overlords in the ever-elusive pursuit of making great films. With their power suits masking their never-ending sense of panic, every party, set visit, casting decision, marketing meeting and award show presents them with an opportunity for glittering success or career-ending catastrophe. As someone who eats, sleeps and breathes movies, it’s the job Matt’s been pursuing his whole life, and it may very well destroy him.

    Shrinking
    Shrinking follows a grieving therapist who starts to break the rules and tell his clients exactly what he thinks. Ignoring his training and ethics, he finds himself making huge, tumultuous changes to people’s lives … including his own.

    Slow Horses
    This darkly funny espionage drama follows a team of British intelligence agents who serve in a dumping ground department of MI5 due to their career-ending mistakes. Led by their brilliant but irascible leader, the notorious Jackson Lamb (Academy Award winner Sir Gary Oldman), they navigate the espionage world’s smoke and mirrors to defend England from sinister forces.

    Presumed Innocent
    Presumed Innocent is an eight-episode limited series starring and executive produced by Jake Gyllenhaal, hailing from David E. Kelley and executive producer J.J. Abrams and based on the New York Times bestselling novel of the same name by Scott Turow. Starring Gyllenhaal in the lead role of chief deputy prosecutor Rusty Sabich, the series takes viewers on a gripping journey through the horrific murder that upends the Chicago Prosecuting Attorney’s office when one of its own is suspected of the crime. The series explores obsession, sex, politics, and the power and limits of love, as the accused fights to hold his family and marriage together. The star-studded ensemble cast of the thriller also includes Ruth Negga, Bill Camp, Elizabeth Marvel, Peter Sarsgaard, O-T Fagbenle and Renate Reinsve.

    Disclaimer
    Disclaimer is a gripping psychological thriller in seven chapters, starring Academy Award winners Cate Blanchett and Kevin Kline. Written and directed by five-time Academy Award winner Alfonso Cuarón, “Disclaimer” is based on the bestselling novel of the same name by Renée Knight. Acclaimed journalist Catherine Ravenscroft (Blanchett) built her reputation revealing the misdeeds and transgressions of others. When she receives a novel from an unknown author, she is horrified to realize she is now the main character in a story that exposes her darkest secrets. As Catherine races to uncover the writer’s true identity, she is forced to confront her past before it destroys her life and her relationships with her husband Robert (Sacha Baron Cohen) and their son Nicholas (Kodi Smit-McPhee). The ensemble cast includes Lesley Manville, Louis Partridge, Leila George and Hoyeon, and features Indira Varma as the narrator.

    Bad Sisters
    Bad Sisters season two returns to follow the lives of the Garvey sisters played by Sharon Horgan as Eva, Anne-Marie Duff as Grace, Eva Birthistle as Ursula, Sarah Greene as Bibi and Eve Hewson as Becka. Two years after the “accidental death” of Grace’s abusive husband, the close-knit Garvey sisters may have moved on, but when past truths resurface, the ladies are thrust back into the spotlight, suspicions are at an all-time high, lies are told, secrets revealed and the sisters are forced to work out who they can trust.

    Dope Thief
    Based on Dennis Tafoya’s book Dope Thief, the series follows long-time Philly friends and delinquents who pose as DEA agents to rob an unknown house in the countryside, only to have their small-time grift become a life-and-death enterprise, as they unwittingly reveal and unravel the biggest hidden narcotics corridor on the Eastern Seaboard.

    The Gorge
    Two highly-trained operatives (Miles Teller and Anya Taylor-Joy) are appointed to posts in guard towers on opposite sides of a vast and highly classified gorge, protecting the world from an undisclosed, mysterious evil that lurks within. They bond from a distance while trying to stay vigilant in defending against an unseen enemy. When the cataclysmic threat to humanity is revealed to them, they must work together in a test of both their physical and mental strength to keep the secret in the gorge before it’s too late.

    Pachinko
    Epic in scope and intimate in tone, the story begins with a forbidden love and crescendos into a sweeping saga that journeys between Korea, Japan and America to tell an unforgettable story of war and peace, love and loss, triumph and reckoning.

    Your Friends & Neighbors
    After being fired in disgrace, a hedge fund manager still grappling with his recent divorce, resorts to stealing from his neighbors’ homes in the exceedingly affluent Westmont Village, only to discover that the secrets and affairs hidden behind those wealthy facades might be more dangerous than he ever imagined.

    Deaf President Now!
    The story of the greatest civil rights movement most people have never heard of. Deaf President Now! recounts the eight days of historic protests held at Gallaudet University in 1988 after the school’s board of trustees appointed a hearing president over several very qualified Deaf candidates. After a week of rallies, boycotts and protests, the students of Gallaudet University triumph as the hearing president resigns and beloved dean Dr. I. King Jordan becomes the university’s first Deaf president. The protests marked a pivotal moment in civil rights history, with an impact that extended well beyond the Gallaudet campus, and paved the way for the Americans with Disabilities Act (ADA). Deaf President Now! features exclusive interviews with the five key figures of the movement, including the DPN4 — Jerry Covell, Bridgetta Bourne-Firl, Tim Rarus and Greg Hlibok — alongside I. King Jordan, as well as archival and scripted elements. The film also incorporates an experimental narrative approach called Deaf Point of View, using impressionistic visual photography and intricate sound design to thrust the audience into the Deaf experience.

    Bono: Stories of Surrender
    Bono: Stories of Surrender is a vivid reimagining of Bono’s critically acclaimed one-man stage show, Stories of Surrender: An Evening of Words, Music and Some Mischief… As he pulls back the curtain on a remarkable life and the family, friends and faith that have challenged and sustained him, he also reveals personal stories about his journey as a son, father, husband, activist and rock star. Along with never-before-seen, exclusive footage from the tour, the film features Bono performing many of the iconic U2 songs that have shaped his life and legacy.

    Dark Matter
    Hailed as one of the best sci-fi novels of the decade, Dark Matter is a story about the road not taken. The series will follow Jason Dessen (played by Joel Edgerton), a physicist, professor and family man who — one night while walking home on the streets of Chicago — is abducted into an alternate version of his life. Wonder quickly turns to nightmare when he tries to return to his reality amid the mind-bending landscape of lives he could have lived. In this labyrinth of realities, he embarks on a harrowing journey to get back to his true family and save them from the most terrifying, unbeatable foe imaginable: himself.

    All programs are currently streaming on Apple TV+.

    Apple TV+ offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all your favorite screens. After its launch on November 1, 2019, Apple TV+ became the first all-original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut.

    About Apple TV+ Apple TV+ is available on the Apple TV app in over 100 countries and regions on over 1 billion screens, including iPhone; iPad; Apple TV; Apple Vision Pro; Mac; popular smart TVs from Samsung, LG, Sony, VIZIO, TCL, and others; Roku and Amazon Fire TV devices; Chromecast with Google TV, PlayStation, and Xbox gaming consoles; and at tv.apple.com, for $9.99 per month with a seven-day free trial. For a limited time, customers who purchase and activate a new iPhone, iPad, Apple TV, or Mac can enjoy three months of Apple TV+ for free.1About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. For more information, visit apple.com/tvpr and see the full list of supported devices.

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