Author: MIL-OSI Publisher

Migrant and refugee settlement agency AMES Australia has welcomed the release of the federal government’s national response to Islamophobia report today.

The report says Islamophobia has been on the rise in Australia over the two decades since the September 11 terror attacks and has skyrocketed since the October 7, 2023, terror attack in Israel.

The ‘National Response to Islamophobia: A Strategic Framework for Inclusion, Safety and Prosperity’ report contains 54 recommendations across every government agency.

AMES CEO Melinda Collinson said the report was welcome and would be a step towards greater social cohesion.

“We work with Islamic communities, and we see the damage islamophobia can do to individuals and communities. So, the recommendations are very welcome and will go some way to assuaging the worries some people and communities face,” Ms Collinson said.

“More than that, it sends a message that Australia values these communities, and we want to connect with them as a society and empower them to take a full place in our multicultural landscape,” she said.

Handing down his report in Canberra, Multicultural Envoy Aftab Malik said Islamophobia had been “persistent” and “never fully addressed”.

He said the report “proposes a way forward for the religious protection of all religious communities who have not been afforded this to date”.

“Islamophobia is a deeply ingrained societal challenge,” Mr Malik said.

The recommendations encompass the inclusion of religion – and particularly Islam – in anti-discrimination laws, reviewing anti-terror laws to determine if they target Muslims and support for capacity building of communities and mechanisms for reporting Islamophobia.

One focus of the report is Muslim women, who comprise the majority of targets of reported incidents of everyday Islamophobia because of their visibility.

It says many have been “subjected to foul, disgusting and degrading behaviour”.

12 September 2025: Gaza City is facing a humanitarian catastrophe as Israel’s latest military assault escalates, pushing people to the brink and threatening the survival of what remains of the health system. 

September 11 2025 – Stock indices across the world are smashing through new peaks, yet the very momentum powering this rally could become its greatest threat, warns a global financial advisory giant deVere Group.

The MSCI All Country World Index has climbed to successive records, lifted by resilient earnings and a softer inflation pulse.

In the US, the S&P 500 has pushed to fresh highs alongside technology bellwethers, while Japan's Nikkei 225 and South Korea's Kospi have logged unprecedented gains.

Investors are celebrating a cooling producer price reading and betting on a string of US interest-rate cuts through the final months of the year.

However, the euphoria carries risk.

“Markets are racing ahead of fundamentals,” warns Nigel Green, chief executive of deVere Group.

“The combination of weakening labor market signals, heavy bets on multiple rate reductions and escalating tariffs under President Trump is a combustible mix. Investors must not confuse policy hopes with economic reality.”

Fresh data show US wholesale prices unexpectedly declined 0.1% in August, far below consensus forecasts.

Traders now price in a quarter-point Federal Reserve cut at its September meeting with near-certainty, and many expect two more moves before year-end.

Meanwhile, headline consumer inflation currently remains near 3%, the highest since January, reflecting tariff-driven costs feeding through supply chains.

“Cheaper money is a tailwind for equities, yet it is not a panacea,” Nigel Green adds.

“If consumer prices remain sticky or tariffs bite deeper into margins, corporate earnings will face pressure just as valuations look stretched.”

Tech shares exemplify the exuberance. Oracle's blow-out forecast for artificial-intelligence revenue ignited its best session in decades and added more than $240 billion to its market value, underscoring investors' willingness to pay almost any price for perceived AI leadership.

Similar enthusiasm has propelled the Nasdaq to levels last seen during the late-1990s tech boom.

“This cycle is being driven by innovation and liquidity, but history shows liquidity can reverse quickly,” comments the deVere CEO.

“Investors chasing the rally need to diversify across geographies and asset classes. Holding only mega-cap tech at these valuations invites serious downside risk if expectations are missed.”

Global dynamics add complexity. Europe's major benchmarks are riding the wave, yet growth indicators remain tepid.

China's manufacturing rebound is uneven, and fresh US tariffs introduced in August are only beginning to filter through to Asian exporters.

Currency markets reflect these cross-currents: the dollar has softened on rate-cut wagers, but any hawkish shift from the Fed or escalation in trade disputes could jolt it higher and unsettle risk assets.

“The dollar's trajectory is pivotal,” Nigel Green notes. “A sudden strengthening would tighten financial conditions worldwide and squeeze emerging markets that have benefited from easier funding this year.”

He stresses that disciplined portfolio construction is essential—and that few investors should attempt it alone.

“Volatile conditions and fast-moving macro data demand more than instinct,” Nigel Green explains.

“This is the time to engage experienced, independent advisers who can stress-test portfolios, identify hidden concentrations of risk and ensure strategies remain aligned with long-term goals.”

Despite the warnings, he remains optimistic.

“Opportunities remain abundant for those who approach this rally with a clear strategy and rigorous risk management.

“High-quality companies with strong cash flow, sound balance sheets and global revenue streams will continue to reward patient investors.”

The message from deVere's chief is unambiguous in that extraordinary market highs demand extraordinary discipline.

“This is a moment to be fully engaged, not complacent. Prudent positioning and professional guidance today will determine who prospers,” Nigel Green concludes.

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Overall consumer spending momentum remained solid across Australia, while Sydney’s wettest August in decades dampened the rise in spending in the harbour city.

11 September 2025 – The CommBank Household Spending Insights (HSI) Index recorded another month of gains in August, extending six consecutive months of better growth as household spending returns to a more stable footing.

The CommBank HSI Index rose 0.3 per cent in the month, following a 0.7 per cent lift in July and 0.5 per cent rises in both May and June.

Nine of the 12 categories rose in August, led by Utilities (+2.9 per cent), Communications and Digital (+1.0 per cent), Recreation (+0.6 per cent), Education (+0.6 per cent) and Household Services (+0.5 per cent). Modest increases were also seen in Motor vehicles, Health, Transport and Hospitality.

Insurance (-0.1 per cent) posted its first monthly fall since January 2024, while Household Goods (-0.3 per cent) and Food & Beverage Goods (-0.1 per cent) edged lower following strong mid-year activity.

“We’ve now seen six months of solid growth, reinforcing our view that a consumer recovery is underway after a series of false starts last year and early into 2025. The combination of growing incomes, a solid labour market and lower interest rates is helping improve household sentiment as consumers are able to both spend and save again,” Head of Australian Economics Belinda Allen said.

“Utilities was the top spending category in August, that uptick is largely driven by general volatility in energy bill payments, as well as the timing of energy price rebates. More interesting is the strong increase in spending on Communications and Digital, which reflects the longer-running, structural shift in consumers favouring spending on experiences rather than goods.

“In particular, August’s spending increase is propelled by the surging popularity of online services like gaming and streaming, as well as the impact of weather. The wettest August in 27 years in Sydney likely had a hand in higher spending on food delivery services and lower spending in cafes during the month.”

On an annual basis, household spending is now up 5 per cent, with the strongest gains seen in Communications and Digital (+10.6 per cent), Utilities (+9.4 per cent), Recreation (+8.3 per cent) and Hospitality (+7.7 per cent), while Transport remains in negative territory (-1.6 per cent) due to petrol price falls.

The broader economic backdrop remains supportive. The RBA has cut the cash rate three times in 2025 in a cautious easing cycle, with moderating inflation and last year’s tax cuts providing further support for households.

Recent GDP data showed the Australian economy picking up momentum more than expected, underpinned by a stronger-than-anticipated consumer sector.

Ms Allen said CommBank continues to expect only one further rate cut from the Reserve Bank of Australia this cycle.

“With the broader economy showing signs of resilience and the consumer returning to a more solid footing, we don’t see the need for the RBA to go much further. We continue to expect just one more cut in November, but no change at the RBA’s September meeting.

“As we look to 2026, we expect to see both consumer spending and the broader economy continue to improve back to around the rate of potential economic growth. “

The CommBank HSI Index tracks month-on-month data at a macro level and is based on de-identified payments data from approximately 7 million CBA customers, comprising roughly 30 per cent of all Australian consumer transactions.

Algiers, Algeria, 10 September 2025: – Shelter Afrique Development Bank (ShafDB) and African Export-Import Bank (Afreximbank) have signed a groundbreaking Joint Project Preparation Facility (JPPF) Framework Agreement. This strategic partnership aims to unlock a cumulative investment value of at least US$1 billion and is set to significantly transform housing and urban development across the continent and boost trade and investment.

Signed on the sidelines of the ongoing fourth Intra-African Trade Fair (IATF2025) by Mr. Thierno-Habib Hann, Managing Director and CEO, ShafDB, and  Ms. Oluranti Doherty, Managing Director, Export Development Afreximbank, the agreement aims to provide early-stage project preparation financing, propelling projects from concept to bankability efficiently and effectively.

The JPPF will primarily support priority sectors including building and construction, housing, healthcare, hospitality and tourism, industrial, manufacturing of building materials, commercial and residential infrastructure, and logistical platforms such as industrial zones and special economic zones.

In addition to financing, the JPPF also incorporates a robust capacity-building programme aimed at enhancing the project preparation skills of ShafDB staff, empowering them with essential skills to develop bankable and impactful projects.

Commenting on the partnership, Ms. Doherty, stated: “We are thrilled to collaborate with Shelter Afrique Development Bank to accelerate sustainable urban development across Africa. This partnership aligns with our shared vision of promoting economic growth and enhancing the quality of projects on the continent. By combining ShafDB's expertise in housing and urban development and Afreximbank's extensive experience in project preparation, we are poised to unlock new opportunities and deliver transformative projects in critical sectors that will amongst other benefits establish economic hubs and platforms that will promote trade and tradable services. The JPPF will act as a catalyst for private sector investment, leading to substantial socio-economic development across the continent. Furthermore, our capacity-building programme will equip ShafDB staff with essential project preparation skills, ensuring sustainable project pipelines in the years to come.”

Commenting on the signing, Mr. Thierno-Habib Hann, Managing Director, ShafDB said: “Our sector faces two major structural challenges: the lack of reliable data and the insufficient preparation of projects. At ShafDB, we have already taken bold steps to address the first challenge through our VIRAL model — a data-driven framework designed to provide actionable insights and support evidence-based decision-making in housing and urban development. Today, we are proud to tackle the second challenge through this strategic partnership with Afreximbank. The Joint Project Preparation Facility will enable us to move projects from concept to bankability with speed and precision, unlocking over US$1 billion in investments. This is a transformative step toward building resilient, inclusive, and sustainable cities across Africa.”

Both Afreximbank and ShafDB are members of the Alliance of African Multilateral Financial Institutions (AAMFI), underscoring their commitment to collaboration and innovation in fostering economic development and growth across the continent.

IATF2025, which is being held from 4 to 10 September, is projected to result in the conclusion of trade and investment deals valued at over US$44 billion.

Notes

About Shelter Afrique Development Bank (ShafDB)

Established in 1981 in Lusaka, Zambia, Shelter Afrique Development Bank (ShafDB) is a Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: African Development Bank (AfDB) and African Reinsurance Corporation (Africa-Re).

The institution is involved in financing housing and related infrastructure across the value chain, both on the demand and supply sides, through its four (4) business lines: Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private partnerships (PPP) Group, and the Fund Management Group (FMG).

For more information, visit: https://www.shelterafrique.org/

About Afreximbank

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.  For more information, visit: www.afreximbank.com

About the Intra-African Trade Fair

Organised by African Export-Import Bank (Afreximbank), African Union Commission (AUC) and African Continental Free Trade Area (AfCFTA) Secretariat, the Intra-African Trade Fair (IATF) is intended to provide a unique platform for facilitating trade and investment information exchange in support of increased intra-African trade and investment, especially in the context of implementing the African Continental Free Trade Agreement (AfCFTA). IATF brings together continental and global players to showcase and exhibit their goods and services and to explore business and investment opportunities in the continent. It also provides a platform to share trade, investment and market information with stakeholders and allows participants to discuss and identify solutions to the challenges confronting intra-African trade and investment. In addition to African participants, the Trade Fair is also open to businesses and investors from non-African countries interested in doing business in Africa and in supporting the continent's transformation through industrialisation and export development.

The Coincident and Leading Barometers rise in September for the fourth consecutive month, mainly due to slightly more favourable assessments and clearly brighter expectations in the Asia, Pacific & Africa region.

In September, the Global Economic Coincident Barometer rises by 0.3 points to 98.6 points, while the Leading Barometer increases by 1.6 points to 102.4 points. Both indicators reach their highest levels since February of this year. The regional components of both Barometers remain relatively stable during the month, except for the Leading indicators from the Asia, Pacific & Africa region, which record a marked rise in September.

“Both the coincident and leading global barometers have now fully recovered from the impact of Liberation Day. The US tariff announcements made in early August do not appear to have had a significant impact. While the leading indicator has remained slightly above average for two consecutive months, the coincident indicator appears to be steadily approaching its long-term average. This is generally positive, as it suggests that the world economy is on a steady path to recovery, despite ongoing geopolitical turmoil”, comments KOF Director Jan-Egbert Sturm the latest results.

Coincident Barometer – regions and sectors

The slight 0.3-point increase in the Coincident Barometer in September results from positive contributions of 0.2 and 0.1 points from the Asia, Pacific & Africa and Western Hemisphere regions, respectively. The Europe indicator remains stable during the month, suggesting a pause after rising between June and August. All three indicators stabilize near the neutral 100-point level.

Among the coincident sectoral indicators, results are mixed, with Industry and Services rising, while the other sectors move in the opposite direction.

Leading Barometer – regions and sectors

The 1.6-point increase in the Global Leading Barometer in September results from a positive contribution of 1.8 points from the Asia, Pacific & Africa region, a negative contribution of 0.2 points from the Western Hemisphere, and stability in the Europe region. All three regional indicators remain above the 100-point level, with the Western Hemisphere showing signs of stabilization after recent increases.The Leading Global Barometer leads the world economic growth rate cycle by three to six months on average.

All leading sectoral indicators rise in September, except for Construction, which continues to show some volatility since June of this year. Notably, the Economy indicator (which is based on variables representing overall business and consumer evaluations) reaches its highest level since February 2022 (107.8 points).

September 10 2025 – Wholesale prices in the US unexpectedly fell in August, adding fresh momentum to bets that the Federal Reserve will cut interest rates next week, with markets now focused on tomorrow's consumer price index for the final confirmation.

This is the bullish analysis from the CEO of one of the world's largest independent financial advisory and asset management organizations as the Bureau of Labor Statistics reported Wednesday that the producer price index (PPI) fell 0.1% in August, compared to expectations for a 0.3% rise.

Core PPI, which strips out volatile food and energy components, also declined 0.1% against forecasts of a 0.3% increase.

Nigel Green, chief executive of deVere Group, comments: “This surprise decline in wholesale prices strengthens the already powerful case for the Fed to begin easing policy.

“The debate is no longer about whether the central bank cuts rates, but about the size of that first cut. Futures markets are fully pricing in a 25-basis-point reduction, with growing speculation around a larger 50-point move.”

Markets immediately reinforced that view. Treasury yields slipped further as bond traders positioned for easier policy.

The dollar weakened against major peers, while risk-sensitive currencies such as the Australian and New Zealand dollars advanced. Gold and silver remained elevated, reflecting ongoing demand for hedges in a looser monetary environment.

“This PPI release is crucial because it signals that underlying price pressures are not only moderating but, in some categories, reversing,” explains the deVere CEO.

“It reduces the risk that the Fed faces a credibility problem if it cuts rates with inflation still running hot. Today's numbers give policymakers the space they need.”

The focus now shifts to Thursday's CPI report, which will provide the most important signal ahead of the September FOMC meeting. Traders expect that even an upside surprise would alter only the size of the cut, not its inevitability.

“Tomorrow's CPI will be dissected line by line, but the bigger picture is already clear,” adds Nigel Green.

“With the labor market weakening after last week's sweeping payroll revisions, and now producer prices cooling, the Fed has the green light. Inflation is no longer the binding constraint it once was. Growth and jobs are taking precedence.”

President Donald Trump's calls for lower rates, aimed at countering the impact of sweeping tariffs and reducing borrowing costs on national debt, have added to the backdrop, though the PPI decline underscores that economic conditions themselves justify action.

Nigel Green concludes: “Today's PPI shock locks in the trajectory.

“Tomorrow's CPI may set the pace, but the destination is unchanged: the Fed is about to cut rates for the first time since 2020.

“Markets are preparing accordingly, and equities look set to push into record territory.”

Responding to the Hong Kong government’s rejection of a bill that proposed a new legal framework for registering same-sex partnerships, Amnesty International’s Researcher/Policy Advisor on Gender, Nadia Rahman, said:

“Today the Hong Kong government has failed to address the inequality faced by same-sex couples in all areas of their lives. The proposed bill on same-sex partnerships was flawed, but in rejecting it the government has shown an alarming disdain for LGBTI rights.

“This bill would have provided the bare minimum of protection for same-sex couples – but notably, only those who registered their partnership overseas. On this and other grounds, the draft considered today falls far short of the intentions of the Court ruling that triggered it two years ago.

“Yet even a small step forward in rights for same-sex couples has proved unpalatable to the Legislative Council. It is a setback which shows just how far Hong Kong has to go before everyone in the city can enjoy equal rights.

“The failure of this bill must not be the end of efforts to improve the rights of same-sex couples in Hong Kong. On the contrary, it should be the catalyst for the authorities to produce a stronger bill that enables LGBTI people in Hong Kong to live with equality and dignity.

“Authorities must now urgently introduce a revised bill that establishes a comprehensive legal framework to recognize and protect the rights of same-sex couples, in full compliance with the Court’s ruling. No one should face discrimination because of who they are or whom they love.”

Background

Heather Boushey named Professor of Practice at Kleinman Center for Energy Policy

The Kleinman Center for Energy Policy at the University of Pennsylvania’s Stuart Weitzman School of Design is pleased to announce former White House economist Heather Boushey as its newest professor of practice. Boushey will take a leadership role in defining new opportunities for economic policy to influence the energy transition.

Boushey recently served as a member of President Biden’s Council of Economic Advisers and chief economist for the White House’s Investing in America cabinet, where she was central in shaping and implementing the administration’s industrial policy agenda.

“We are delighted to have Heather join a community of scholars here who also care deeply about the energy transition,” said Weitzman Dean and Paley Professor Fritz Steiner.

“Heather brings a wealth of experience from the D.C. policymaking arena,” said Sanya Carley, the Mark Alan Hughes Faculty Director of the Kleinman Center. “And throughout her career she has demonstrated a commitment to a fair economy for all.”

Boushey co-founded the Washington Center for Equitable Growth, where she advanced research on how inequality affects economic performance. Early in her career, she was an economist for the Center for American Progress, Joint Economic Committee of the U.S. Congress, Center for Economic and Policy Research, and Economic Policy Institute.

In one of her books, Unbound: How Economic Inequality Constricts Our Economy and What We Can Do About It, Boushey argues that we do not have to choose between equality and prosperity. Through the data, she demonstrates that rising inequality has in fact deterred growth and is an impediment to a competitive U.S. marketplace. Boushey also co-edited After Piketty: The Agenda for Economics and Inequality, a volume of 22 essays about integrating inequality into economic thinking.

Boushey is widely respected as a leader in her industry. The New York Times called her one of the “most vibrant voices in the field,” and “at the forefront of a generation of economists rethinking their discipline,” and Politico has twice named her one of the top 50 “thinkers, doers and visionaries transforming American politics.”

“I’m looking forward to continuing my career here at the Kleinman Center—moving research and policy forward on topics essential to a sustainable energy transition, which itself, is a critical component of a healthy economy,” said Boushey, who received her Bachelor of Arts degree from Hampshire College and her Ph.D. in economics from the New School for Social Research. She arrives at Penn in September, following a senior fellowship at the Reimagining the Economy project at the Harvard Kennedy School.

With today’s announcement, the Kleinman Center expands its impact on campus with a total of four professors dedicated to energy policy research and teaching.

Jennifer Wilcox, with an expertise in carbon management, was the first professor to join the Kleinman Center and holds a second appointment in the School of Engineering and Applied Science. Shelley Welton focuses on energy institutions and governance. She holds a second appointment at Penn Carey School of Law. Sanya Carley specializes in energy policy design and holds a second appointment in the Department of City and Regional Planning at the Stuart Weitzman School of Design. Carley is also the faculty director of the Kleinman Center.

About the Kleinman Center. The Kleinman Center for Energy Policy operates within the University of Pennsylvania Stuart Weitzman School of Design. Its mission is to create the conditions for innovative energy policy that support smart, responsible, and creative decision making.

About the Weitzman School. The University of Pennsylvania Stuart Weitzman School of Design prepares students to address complex sociocultural and environmental issues through thoughtful inquiry, creative expression, and innovation. As a diverse community of scholars and practitioners, we are committed to advancing the public good—both locally and globally—through art, design, planning, and preservation.