Author: MIL-OSI Publisher

Cumberland City Council, in partnership with the St Vincent de Paul Society NSW, marked Homelessness Week 2025 with a youth-focused workshop designed to raise awareness and empower young people to drive social change.

Homelessness Week ran until Sunday 10 August 2025, under this year’s national theme “Homelessness Action Now”, which called for urgent and coordinated action to address the root causes of homelessness and provide support for those affected.

Council and the St Vincent de Paul Society NSW invited local young people aged 12 to 25 to attend a Homelessness Week Youth Workshop held on Wednesday 6 August, from 4pm to 5:30pm at the Auburn Centre for Community (44A Macquarie Road, Auburn).

This interactive workshop:

• Explored the experiences and causes of homelessness in Western Sydney
• Provided insight into how Council and the St Vincent de Paul Society NSW support vulnerable community members
• Created a platform for young people to share ideas and perspectives
• Supported the development of a youth-led social justice action plan.

Cumberland Mayor Ola Hamed endorsed this collaboration and focus on youth-based discussion.

“Homelessness impacts people across all parts of our community, including young people. By engaging youth in open dialogue and social planning, we are investing in long-term, community-led solutions.”

“This is not a problem that can be fixed overnight, the ongoing cost of living crisis is affecting all age groups across our communities and is forcing more people into homelessness every day.”

CBA unveils Australian-first Gen AI Scam Checker tool in the Truyu app and online card transaction verification in the CommBank app.

What’s the news?

• CommBank has seen a 76% drop in customer scam losses since peak (2H25 vs. 1H23)
• CommBank invested over $900 million in FY25 to help protect its customers against fraud, scams, financial crime and cyber threats.

The International Indigenous Peoples' Forum on Plastics (IIPFP), present at the Global Plastics Treaty negotiations (INC-5.2) at the United Nations (UN) in Geneva, held an event with the INC Chair, Luis Vayas Valdivieso calling on governments to uphold the rights of Indigenous Peoples in all aspects of the treaty, as affirmed by the UN Declarations on the Rights of Indigenous Peoples (UNDRIP).

The high level event, which took place only six days away from the end of the negotiations, commemorated the efforts of Haudenosaunee Chief Deskaheh Levi General and Māori leader Tahupōtiki Wiremu Ratana. They both made long journeys from their ancestral territories to Geneva to claim their rights as sovereign peoples, demanding a seat at the table to participate in global decision-making about their futures.

Today marks the 31st year since the UN recognised the International Day for the World's Indigenous Peoples, a day that marks the first meeting of the UN Working Group on Indigenous Populations held here in Geneva in 1982.

Carson Kiburo, (Endorois, Africa) says, “We stand at a crossroads. You can choose the path that repeats old mistakes, or you can choose justice. Our IIPFP today, carries the voices of over 476 million Indigenous Peoples from all over the world. We are not just participants in this fight. We are the strong grassroot contributors and partners in this. Let this be the treaty where you get it right. Let this be the moment where you chose the wisdom of Indigenous Peoples over the failures of the past.”

Despite Indigenous Peoples' record attendance at INC-5.2 an analysis by the Center for International Environmental Law (CIEL) reveals the disproportionate influence of polluting industries on these negotiations.

Samantha Jack (Nuu-Chah-Nulth and Yale First Nations, North America) from the Global Indigenous Youth Caucus states, “As Indigenous youth, we are inheriting the consequences of decisions made today, yet we continue to be pushed to the margins of global decision-making. Our land and our waterways are not commodities, they are our relatives. The plastics crisis is devastating our sacred relationships with the land, threatening our ways of life, and undermining our sovereignty and self-determination. From the extraction of fossil fuels to the dumpsites and microplastics that invade our territories and bodies, this crisis spans the full lifecycle of plastic. Decision-makers must uphold Indigenous Peoples' distinct rights as affirmed in the UN Declaration on the Rights of Indigenous Peoples, ensure full and equitable participation supported by sustained funding, and recognize Indigenous Knowledge in its own right. As youth, we are not just the voices of tomorrow, we are the voices of now. You say this is a once-in-a-generation treaty. Then please treat it like one.”

Arctic – Sara Olvig, Chair of Inuit Circumpolar Council. “Plastic pollution affects Inuit and other Arctic Indigenous Peoples adversely. The Arctic is already disproportionately impacted by climate change, warming 3-4 times faster than other regions. Our region is a sink for pollutants causing health effects. Arctic species that are part of our traditional diets have been found with plastics in their stomachs, directly affecting our mental and physical health, food sovereignty and ways of life. We call on all states to ensure our rights as Indigenous Peoples, including our right of full, effective and meaningful participation as affirmed in the UN Declaration, in all
processes related to the development and implementation of this treaty.”

Asia – Prem Singh Tharu, Tharu. “Indigenous Peoples hold and practice the most resilient solution pathways to the plastic pollution crisis, including other environmental crises. The treaty must defend our rights and shape the future of our new generations guaranteeing the rights, knowledge and practices of Indigenous Peoples in this historical instrument, the world will greatly applaud and commend you all historically forever. The treaty is not just a treaty, but it is a roadmap for keeping the human and planet clean, healthy, and sustained in peace and harmony. Take this precious opportunity to prove that you have done the crucial job of making and keeping the human and planet alive, clean, healthy, and sustainable.”

Pacific – Heni Unwin, Te Ati Haunui-a-Paparangi, Ngāti Tūwharetoa, Ngāi Tūhoe, Ngāti Kahungunu ki Te Wairoa, Rongomaiwahine. “We are here because we received the call, it washed up upon our shores, it invaded our food systems and it has colonized every part of our bodies and lives. Our ancestors also received a call to fight for our Indigenous rights, Tahupōtiki Wiremu Ratana was turned away at the league of nations 100 years ago in 1925. Our people have turned up and fought for our rights ever since to have a seat at the table. We will continue to fight because this planet, our planet, is worth it.”

Latin and Central America – Carlos Gaitan Rodriguez, Indigenous Peoples of Piapoco, Coordinator of the Territory and Environment at the Organización Nacional de los Pueblos Indígenas de la Amazonía Colombiana (OPIAC). “Our lands, bodies, territories, nature commons and health as Indigenous Peoples, are systematically affected by all types of plastics pollution. Many of these plastics carry toxic poison, pesticide conductors. Our communities become garbage deposits for food packaging, manufactured by large food corporations and agribusiness, that are threatening our food sovereignty.”

The IIPFP is comprised of representatives of Indigenous Peoples from the seven Indigenous socio-cultural regions recognised by the UN – 1) Africa; 2) the Arctic; 3) Asia; 4) Central and South America and the Caribbean; 5) Eastern Europe, Russian Federation, Central Asia and Transcaucasia; 6) North America; and 7) the Pacific.

www.breakfreefromplastic.org

The Coincident and Leading Barometers rise in August for the third consecutive month, recovering much of the losses recorded between January and May this year.

The Coincident Global Economic Barometer rises by 2.1 points in August, reaching 97.8 points, while the Leading Barometer increases by 2.6 points, reaching 100.9 points. The increases are mainly driven by indicators from the Asia, Pacific & Africa, as well as the Western Hemisphere regions.

“After the initial negative impact of US Liberation Day on sentiment, both global barometers have risen for the third time in a row. Although the latest tariff increases by the world's largest economy are not yet reflected in the current data, this is a positive sign and hopefully reflects the increased resilience of the global economy. Alongside changes in supply chains and efficiency losses, the tense trade situation will lead to a decline in dependence on a single economy” comments KOF Director Jan-Egbert Sturm the latest results.

Coincident Barometer – regions and sectors

The 2.1-point increase in the Coincident Barometer in August results from positive contributions of 1.0 and 0.9 points from the Asia, Pacific & Africa and Western Hemisphere regions, respectively. The Europe indicator contributes with 0.2 points to the aggregated result. All regional indicators rise for the third consecutive month, but only Europe is above the level recorded at the end of last year. The Asia, Pacific & Africa indicator is close to its December 2024 level, while the Western Hemisphere indicator still remains the lowest among the three major regional indicators.

Four out of five bundles of coincident sector indicators rise in August. The Trade indicator bundle is the exception, although it still holds the highest level among the sectors. The positive highlight of the month is the rise in the Economy indicator bundle (aggregated development of business and consumer indicators), which is approaching the neutral level of 100 points.

Leading Barometer – regions and sectors

The 2.6-point increase in the Leading Global Barometer in August results from positive contributions of 1.6 points from the Western Hemisphere and 0.8 points from the Asia, Pacific & Africa region. Europe contributes with 0.2 points. All three regional indicators are above the 100-point level, with the Western Hemisphere indicator now standing out at 102.9 points.

All leading sector indicator bundles rise in August, with Trade standing out for its third consecutive monthly increase. Despite this, only Economy and Industry are above the neutral level of 100 points.

India faces a potential economic setback following the US decision to impose a 25% tariff on Indian goods from 7 August 2025, and an additional 25% penalty tariff on Russian oil-linked imports from 27 August 2025. These measures are expected to hit key export sectors, erode the goods trade surplus, and trim GDP growth in 2025, according to GlobalData, a leading data and analytics company

GlobalData anticipates the repercussions to be particularly severe on sectors such as textiles, gems and jewelry, machinery, iron and steel, and automotive, which could lead to a 30 basis points reduction in GDP, along with an estimated 25% contraction in the goods trade surplus with the US in 2025.

Over the past decade, India's trade surplus with the US has risen significantly, increasing from $19.9 billion in 2015 to $37.7 billion in 2024. This surplus has grown at an average annual rate of 6.3% during the period, with a notable surge of 15.2% in the 2023-24 period, according to GlobalData analysis using ITC Trade Map data.

The top five commodities exported to the US, including electrical machinery, gems and jewelry, pharmaceuticals, nuclear reactors and machinery, and mineral oils, accounted for 51.6% of total exports in 2024. While petroleum products, pharmaceuticals, and smartphones are currently exempt from the existing tariff structure, other sectors are likely to be significantly affected.

According to GlobalData, the tariffs are projected to result in an 11% reduction in US-bound exports in 2025, making Indian goods significantly more expensive. Consequently, a 25% decline in India's trade surplus with the US is anticipated.

Ramnivas Mundada, Director of Economic Research and Companies at GlobalData, comments: “In 2024, the US accounted for approximately 18% of India's total goods exports. Anticipating reduced trade with the US, India is prioritizing the acceleration of free trade agreement negotiations with the European Union, Peru, and Chile to shift around 10% of the trade to Latin American countries and the EU, and enhance the resilience of labor-intensive industries.”

While pharmaceutical, electronics (including iPhones), and petroleum sectors are currently exempt from the new tariffs, the looming threat of a potential increase in tariffs on pharmaceutical products to as high as 250% poses significant concerns for the industry. Major players like Dr. Reddy's Laboratories, Sun Pharma, and Cipla, which rely heavily on exports to the US market, may encounter rising costs and a competitive disadvantage.

The textiles sector, including companies like Welspun India, Raymond, and Trident, is likely to face significant challenges due to the increased tariffs, leading to contract renegotiations and potential cancellations that could lower sales and profitability.

Similarly, the auto ancillary sector, represented by firms such as Bharat Forge and Sona Comstar, may experience disruptions, although the impact is expected to be less severe than in textiles.

In the gems and jewellery sector, companies like Titan and Kalyan Jewellers will be affected, as a large portion of their exports to the US may result in renegotiated contracts and reduced margins, hindering their growth and expansion efforts in the American market.

Mundada concludes: “The sweeping new US tariffs and the failure to establish a trade agreement with India signify a notable downturn in bilateral relations, highlighting underlying geopolitical tensions and trade conflicts. As India addresses its energy requirements and economic goals, both countries need to pursue a practical way forward. Rebuilding trust and encouraging open communication will be key to resolving this stalemate. The trajectory of US-India relations dep

08 AUGUST 2025 – Today, 8 August, the Johan Castberg field was officially opened by the minister of energy, Terje Aasland.

Johan Castberg is Norway's northernmost oil field. The field will produce for at least 30 years. This creates great value and ripple effects and is important for Norway's role as a reliable, long-term energy supplier. The field produces 220,000 barrels of oil per day.

“This is a milestone for the petroleum industry in the Barents Sea. With Castberg on stream, the Barents Sea now has both our second largest producing oil field, our second largest gas field and the largest discovery being considered for development. In addition, the Castberg field is a good example of the positive ripple effects that production offshore has on the mainland. With Castberg, there are three producing fields in the Barents Sea. This provides secure jobs in the local business community and a basis for new assignments over a long period of time,“ Terje Aasland said in his speech to the FPSO crew right after the opening.

The official opening was attended by the crew of the Johan Castberg FPSO, leaders from the Ministry of Energy, including minister Terje Aasland, the mayors of Hammerfest and Harstad, leaders from the Norwegian Offshore Directorate, the Norwegian Ocean Industry Authority, Equinor, Vår Energi, Petoro, Aker Solutions and employee representatives.

Minister of energy, Terje Aasland, and Kjetil Hove, Equinor's executive vice president for Exploration & Production Norway, at the official opening of Johan Castberg.
Photo: Ole Jørgen Bratland / Equinor

“This is a red-letter day. The Barents Sea is becoming increasingly important for Norway's role as a long-term energy exporter, and Johan Castberg will produce safely and efficiently for at least 30 years. We are well underway and have already made new discoveries in the area. Throughout the field's productive life, we will make significant investments that will create jobs and opportunities for the supply industry,” says Kjetil Hove, Equinor's executive vice president for Exploration & Production Norway.

Less than three months after coming on stream the Johan Castberg field was producing at peak capacity of 220,000 barrels of per day. Every three or four days, cargoes depart from Johan Castberg. Each cargo may be worth around NOK half a billion, depending on the oil price. Norwegian suppliers account for 95 percent of the deliveries to the field in the operational phase.

With a supply base and helicopter base in Hammerfest the field is operated from Equinor's Harstad office. A total of 30 wells will be drilled on the Johan Castberg field, and drilling operations are expected to continue through 2026, driving a high level of activity in Hammerfest.

Facts about Johan Castberg

• Licensees: Equinor Energy AS (operator) 46.3%, Vår Energi ASA 30%, Petoro AS 23.7%.
• The Johan Castberg field consists of the Skrugard, Havis and Drivis discoveries, which were discovered in the period 2011 to 2014.
• Location: Johan Castberg is located approx. 100 kilometres north of the Snøhvit field in the Barents Sea in blocks 7219/9 and 7220/4,5,7, about 150 km from Goliat and almost 240 km from Melkøya. The water depth in the area is 360-390 metres, and the distance from Skrugard to Havis is 7 kilometres.
• Johan Castberg is the second oil field in the Barents Sea and Norway's northernmost field.
• The field development concept consists of a production vessel (FPSO) tied back to an extensive subsea field with a total of 30 wells divided on 10 subsea templates and two satellite structures.

Business activity at Swiss firms is currently slightly stronger than it was at the beginning of the year and in July 2024. This is shown by the KOF Business Situation Indicator, which rose for the third month in a row. However, the outlook for the next six months is somewhat gloomier – mainly owing to subdued expectations in the manufacturing and wholesale sectors. This is revealed by the results of the KOF Business Tendency Surveys of nearly 7,000 firms across the private sector.

A mixed picture emerges when broken down by sector. The business situation is improving in other services, the wholesale trade and hospitality and is brightening slightly in financial and insurance services. By contrast, it is cooling in manufacturing and construction and is deteriorating to a more pronounced extent in the retail trade and project engineering.

The business outlook for the next six months is brightening in almost all sectors of the economy – in construction, financial and insurance services, hospitality, other services, retail and project engineering. However, two sectors – manufacturing and wholesale – are bucking the trend and causing the Business Expectations Indicator to fall.

Uncertainty about the future business outlook for the manufacturing sector has declined somewhat – particularly among companies with strong exposure to the US market – but remains relatively high. Firms have recently received fewer orders than before and production has been scaled back. Export-focused companies with strong ties to the US market have not yet fully recovered from the tariff shock in April. However, their production plans are no longer quite as cautious as they were at the time. Financial restrictions are hampering this sector more than labour shortages for the first time since the COVID-19 pandemic.

All in all, the Business Situation Indicators and Business Expectations Indicators across all sectors show neither a broad-based recovery nor a slowdown.

Price inflation remains low

On balance, firms' price plans have remained relatively stable since the beginning of the year, fluctuating around a slightly positive level. Companies expect inflation in general consumer prices to be significantly lower over the next twelve months than it has been to date. Whereas in April they were anticipating an inflation rate of 1.4 per cent for the next twelve months, they now expect it to be 1.1 per cent. Over the longer term (five years), however, they expect the inflation rate to pick up again (1.8 per cent).

The results of the KOF Business Tendency Surveys for July 2025 are based on responses from around 4,400 firms from the manufacturing, construction and major service sectors. This equates to a response rate of around 53 per cent.

The survey was completed before the US government announced tariffs of 39 per cent on 1 August.

BRISBANE/MELBOURNE – August 7, 2025 – Melbourne-based Nexobot has been named winner of Australia's inaugural Propel-AIR accelerator, earning founder Dominic Lindsay an exclusive international residency at MassRobotics, the world's largest independent robotics hub in Boston.

Seascape Autonomy, developing next-generation underwater robots that capture detailed ocean floor imagery, finished as runner-up in the competition that showcased Australia's emerging AI and robotics ecosystem.