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  • MIL-OSI: Texas Capital Bancshares, Inc. Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Second quarter 2025 net income of $77.3 million and net income available to common stockholders
    of $73.0 million, up 86% and 95%, respectively, year-over-year

    Second quarter 2025 EPS of $1.58 per diluted share and adjusted EPS(1)of $1.63 per
    diluted share, up 98% and 104%, respectively, year-over-year

    Strong balance sheet growth with total loans increasing 7% quarter-over-quarter and 10% year-over-year

    Book Value and Tangible Book Value(2)per share both increasing 13% year-over-year, reaching record levels

    DALLAS, July 17, 2025 (GLOBE NEWSWIRE) — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the second quarter of 2025.

    “Our multi-year focus on building a differentiated, full-service financial services firm has strengthened our client franchise and consistently delivered high-quality outcomes across our platform, driving strong financial performance this quarter,” said Rob C. Holmes, Chairman, President & CEO. “The strategic actions we’ve taken have structurally enhanced our earnings power, and as we enter the second half of the year, the breadth of our capabilities and the strength of our balance sheet position us to deliver durable, through-cycle results for both clients and shareholders.”

      2nd Quarter   1st Quarter   2nd Quarter
    (dollars in thousands except per share data)   2025       2025       2024  
    OPERATING RESULTS          
    Net income $ 77,328     $ 47,047     $ 41,662  
    Net income available to common stockholders $ 73,016     $ 42,734     $ 37,350  
    Pre-provision net revenue(3) $ 117,188     $ 77,458     $ 78,597  
    Diluted earnings per common share $ 1.58     $ 0.92     $ 0.80  
    Diluted common shares   46,215,394       46,616,704       46,872,498  
    Return on average assets   0.99 %     0.61 %     0.56 %
    Return on average common equity   9.17 %     5.56 %     5.26 %
               
    OPERATING RESULTS, ADJUSTED(1)          
    Net income $ 79,841     $ 47,047     $ 42,020  
    Net income available to common stockholders $ 75,529     $ 42,734     $ 37,708  
    Pre-provision net revenue(3) $ 120,475     $ 77,458     $ 79,059  
    Diluted earnings per common share $ 1.63     $ 0.92     $ 0.80  
    Diluted common shares   46,215,394       46,616,704       46,872,498  
    Return on average assets   1.02 %     0.61 %     0.57 %
    Return on average common equity   9.48 %     5.56 %     5.31 %
               
    BALANCE SHEET          
    Loans held for investment $ 18,035,945     $ 17,654,243     $ 16,700,569  
    Loans held for investment, mortgage finance   5,889,589       4,725,541       5,078,161  
    Total loans held for investment   23,925,534       22,379,784       21,778,730  
    Loans held for sale   —       —       36,785  
    Total assets   31,943,535       31,375,749       29,854,994  
    Non-interest bearing deposits   7,718,006       7,874,780       7,987,715  
    Total deposits   26,064,309       26,053,034       23,818,327  
    Stockholders’ equity   3,510,070       3,429,774       3,175,601  
               

    (1) These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.
    (2) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
    (3) Net interest income plus non-interest income, less non-interest expense.

    SECOND QUARTER 2025 COMPARED TO FIRST QUARTER 2025

    For the second quarter of 2025, net income available to common stockholders was $73.0 million, or $1.58 per diluted share, compared to $42.7 million, or $0.92 per diluted share, for the first quarter of 2025.

    Provision for credit losses for the second quarter of 2025 was $15.0 million, compared to $17.0 million for the first quarter of 2025. The $15.0 million provision for credit losses recorded in the second quarter of 2025 resulted primarily from an increase in total loans held for investment (“LHI”) and $13.0 million in net charge-offs, partially offset by a decrease in criticized loans.

    Net interest income was $253.4 million for the second quarter of 2025, compared to $236.0 million for the first quarter of 2025, primarily due to increases in average earning assets and earning asset yields, a decrease in average short-term borrowings and the impact of one additional day in the second quarter. Net interest margin for the second quarter of 2025 was 3.35%, an increase of 16 basis points from the first quarter of 2025. LHI, excluding mortgage finance, yields decreased 4 basis points from the first quarter of 2025 and LHI, mortgage finance, yields increased 49 basis points from the first quarter of 2025. Total cost of deposits was 2.65% for the second quarter of 2025, an 11 basis point decrease from the first quarter of 2025.

    Non-interest income for the second quarter of 2025 increased $9.6 million compared to the first quarter of 2025 primarily due to increases in investment banking and advisory fees and trading income, partially offset by a $1.9 million loss on sale of available-for-sale debt securities recognized during the second quarter of 2025.

    Non-interest expense for the second quarter of 2025 decreased $12.7 million compared to the first quarter of 2025, primarily due to decreases in salaries and benefits, related to the effect of seasonal payroll expenses that peak in the first quarter, and legal and professional expense, partially offset by an increase in other non-interest expense.

    SECOND QUARTER 2025 COMPARED TO SECOND QUARTER 2024

    Net income available to common stockholders was $73.0 million, or $1.58 per diluted share, for the second quarter of 2025, compared to $37.4 million, or $0.80 per diluted share, for the second quarter of 2024.

    The second quarter of 2025 included a $15.0 million provision for credit losses, reflecting an increase in total LHI and $13.0 million in net charge-offs, partially offset by a decline in criticized loans, compared to a $20.0 million provision for credit losses for the second quarter of 2024.

    Net interest income increased to $253.4 million for the second quarter of 2025, compared to $216.6 million for the second quarter of 2024, primarily due to an increase in average earning assets and a decrease in funding costs, partially offset by an increase in average interest bearing liabilities. Net interest margin increased 34 basis points to 3.35% for the second quarter of 2025, as compared to the second quarter of 2024. LHI, excluding mortgage finance, yields decreased 44 basis points compared to the second quarter of 2024 and LHI, mortgage finance yields increased 48 basis points from the second quarter of 2024. Total cost of deposits decreased 34 basis points compared to the second quarter of 2024.

    Non-interest income for the second quarter of 2025 increased $3.6 million compared to the second quarter of 2024 primarily due to increases in service charges on deposit accounts, trading income and other non-interest income, partially offset by the loss on sale of available-for-sale debt securities mentioned above.

    Non-interest expense for the second quarter of 2025 increased $1.9 million compared to the second quarter of 2024, primarily due to increases in salaries and benefits, occupancy expense and communications and technology expense, partially offset by a decrease in marketing expense.

    CREDIT QUALITY

    Net charge-offs of $13.0 million were recorded during the second quarter of 2025, compared to net charge-offs of $9.8 million and $12.0 million during the first quarter of 2025 and the second quarter of 2024, respectively. Criticized loans totaled $637.5 million at June 30, 2025, compared to $762.9 million at March 31, 2025 and $859.7 million at June 30, 2024. Non-accrual LHI totaled $113.6 million at June 30, 2025, compared to $93.6 million at March 31, 2025 and $85.0 million at June 30, 2024. The ratio of non-accrual LHI to total LHI for the second quarter of 2025 was 0.47%, compared to 0.42% for the first quarter of 2025 and 0.39% for the second quarter of 2024. The ratio of total allowance for credit losses to total LHI was 1.40% at June 30, 2025, compared to 1.48% and 1.44% at March 31, 2025 and June 30, 2024, respectively.

    REGULATORY RATIOS AND CAPITAL

    All regulatory ratios continue to be in excess of “well capitalized” requirements as of June 30, 2025. CET1, tier 1 capital, total capital and leverage ratios were 11.4%, 12.9%, 15.3% and 11.8%, respectively, at June 30, 2025, compared to 11.6%, 13.1%, 15.6% and 11.8%, respectively, at March 31, 2025 and 11.6%, 13.1%, 15.7% and 12.2%, respectively, at June 30, 2024. At June 30, 2025, our ratio of tangible common equity to total tangible assets was 10.1%, compared to 10.0% at March 31, 2025 and 9.6% at June 30, 2024.

    During the second quarter of 2025, the Company repurchased 317,860 shares of its common stock for an aggregate purchase price, including excise tax expense, of $21.0 million, at a weighted average price of $65.50 per share.

    About Texas Capital Bancshares, Inc.

    Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000®Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio, and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities.

    Forward Looking Statements

    This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans.

    Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including recent trade policies and their impact on our customers; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.

    TEXAS CAPITAL BANCSHARES, INC.
    SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
    (dollars in thousands except per share data)
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    CONSOLIDATED STATEMENTS OF INCOME          
    Interest income $ 439,567   $ 427,289   $ 437,571   $ 452,533   $ 422,068  
    Interest expense   186,172     191,255     207,964     212,431     205,486  
    Net interest income   253,395     236,034     229,607     240,102     216,582  
    Provision for credit losses   15,000     17,000     18,000     10,000     20,000  
    Net interest income after provision for credit losses   238,395     219,034     211,607     230,102     196,582  
    Non-interest income   54,069     44,444     54,074     (114,771 )   50,424  
    Non-interest expense   190,276     203,020     172,159     195,324     188,409  
    Income/(loss) before income taxes   102,188     60,458     93,522     (79,993 )   58,597  
    Income tax expense/(benefit)   24,860     13,411     22,499     (18,674 )   16,935  
    Net income/(loss)   77,328     47,047     71,023     (61,319 )   41,662  
    Preferred stock dividends   4,312     4,313     4,312     4,313     4,312  
    Net income/(loss) available to common stockholders $ 73,016   $ 42,734   $ 66,711   $ (65,632 ) $ 37,350  
    Diluted earnings/(loss) per common share $ 1.58   $ 0.92   $ 1.43   $ (1.41 ) $ 0.80  
    Diluted common shares   46,215,394     46,616,704     46,770,961     46,608,742     46,872,498  
    CONSOLIDATED BALANCE SHEET DATA          
    Total assets $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
    Loans held for investment   18,035,945     17,654,243     17,234,492     16,764,512     16,700,569  
    Loans held for investment, mortgage finance   5,889,589     4,725,541     5,215,574     5,529,659     5,078,161  
    Loans held for sale   —     —     —     9,022     36,785  
    Interest bearing cash and cash equivalents   2,507,691     3,600,969     3,012,307     3,894,537     2,691,352  
    Investment securities   4,608,628     4,531,219     4,396,115     4,405,520     4,388,976  
    Non-interest bearing deposits   7,718,006     7,874,780     7,485,428     9,070,804     7,987,715  
    Total deposits   26,064,309     26,053,034     25,238,599     25,865,255     23,818,327  
    Short-term borrowings   1,250,000     750,000     885,000     1,035,000     1,675,000  
    Long-term debt   620,256     660,521     660,346     660,172     659,997  
    Stockholders’ equity   3,510,070     3,429,774     3,367,936     3,354,044     3,175,601  
               
    End of period shares outstanding   45,746,836     46,024,933     46,233,812     46,207,757     46,188,078  
    Book value per share $ 70.17   $ 68.00   $ 66.36   $ 66.09   $ 62.26  
    Tangible book value per share(1) $ 70.14   $ 67.97   $ 66.32   $ 66.06   $ 62.23  
    SELECTED FINANCIAL RATIOS          
    Net interest margin   3.35 %   3.19 %   2.93 %   3.16 %   3.01 %
    Return on average assets   0.99 %   0.61 %   0.88 % (0.78 )%   0.56 %
    Return on average assets, adjusted(4)   1.02 %   0.61 %   0.88 %   1.00 %   0.57 %
    Return on average common equity   9.17 %   5.56 %   8.50 % (8.87 )%   5.26 %
    Return on average common equity, adjusted(4)   9.48 %   5.56 %   8.50 %   10.04 %   5.31 %
    Efficiency ratio(2)   61.9 %   72.4 %   60.7 %   155.8 %   70.6 %
    Efficiency ratio, adjusted(2)(4)   61.1 %   72.4 %   60.7 %   62.3 %   70.4 %
    Non-interest income to average earning assets   0.72 %   0.60 %   0.69 % (1.52 )%   0.71 %
    Non-interest income to average earning assets, adjusted(4)   0.74 %   0.60 %   0.69 %   0.86 %   0.71 %
    Non-interest expense to average earning assets   2.52 %   2.75 %   2.21 %   2.59 %   2.65 %
    Non-interest expense to average earning assets, adjusted(4)   2.50 %   2.75 %   2.21 %   2.52 %   2.65 %
    Common equity to total assets   10.1 %   10.0 %   10.0 %   9.7 %   9.6 %
    Tangible common equity to total tangible assets(3)   10.1 %   10.0 %   10.0 %   9.7 %   9.6 %
    Common Equity Tier 1   11.4 %   11.6 %   11.4 %   11.2 %   11.6 %
    Tier 1 capital   12.9 %   13.1 %   12.8 %   12.6 %   13.1 %
    Total capital   15.3 %   15.6 %   15.4 %   15.2 %   15.7 %
    Leverage   11.8 %   11.8 %   11.3 %   11.4 %   12.2 %

    (1) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
    (2) Non-interest expense divided by the sum of net interest income and non-interest income.
    (3) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by total assets, less goodwill and intangibles.
    (4) These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.

    TEXAS CAPITAL BANCSHARES, INC.
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
    (dollars in thousands)
      June 30,
    2025    		 March 31,
    2025    		 December 31,
    2024    		 September 30,
    2024    		 June 30,
    2024
    Assets          
    Cash and due from banks $ 182,451   $ 201,504   $ 176,501   $ 297,048   $ 221,727  
    Interest bearing cash and cash equivalents   2,507,691     3,600,969     3,012,307     3,894,537     2,691,352  
    Available-for-sale debt securities   3,774,141     3,678,378     3,524,686     3,518,662     3,483,231  
    Held-to-maturity debt securities   761,907     779,354     796,168     812,432     831,513  
    Equity securities   68,692     71,679     75,261     74,426     74,232  
    Trading securities   3,888     1,808     —     —     —  
    Investment securities   4,608,628     4,531,219     4,396,115     4,405,520     4,388,976  
    Loans held for sale   —     —     —     9,022     36,785  
    Loans held for investment, mortgage finance   5,889,589     4,725,541     5,215,574     5,529,659     5,078,161  
    Loans held for investment   18,035,945     17,654,243     17,234,492     16,764,512     16,700,569  
    Less: Allowance for credit losses on loans   277,648     278,379     271,709     273,143     267,297  
    Loans held for investment, net   23,647,886     22,101,405     22,178,357     22,021,028     21,511,433  
    Premises and equipment, net   86,831     84,575     85,443     81,577     69,464  
    Accrued interest receivable and other assets   908,552     854,581     881,664     919,071     933,761  
    Goodwill and intangibles, net   1,496     1,496     1,496     1,496     1,496  
    Total assets $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
               
    Liabilities and Stockholders’ Equity          
    Liabilities:          
    Non-interest bearing deposits $ 7,718,006   $ 7,874,780   $ 7,485,428   $ 9,070,804   $ 7,987,715  
    Interest bearing deposits   18,346,303     18,178,254     17,753,171     16,794,451     15,830,612  
    Total deposits   26,064,309     26,053,034     25,238,599     25,865,255     23,818,327  
    Accrued interest payable   14,120     25,270     23,680     18,679     23,841  
    Other liabilities   484,780     457,150     556,322     696,149     502,228  
    Short-term borrowings   1,250,000     750,000     885,000     1,035,000     1,675,000  
    Long-term debt   620,256     660,521     660,346     660,172     659,997  
    Total liabilities   28,433,465     27,945,975     27,363,947     28,275,255     26,679,393  
               
    Stockholders’ equity:          
    Preferred stock, $.01 par value, $1,000 liquidation value:          
    Authorized shares – 10,000,000          
    Issued shares(1)   300,000     300,000     300,000     300,000     300,000  
    Common stock, $.01 par value:          
    Authorized shares – 100,000,000          
    Issued shares(2)   517     517     515     515     515  
    Additional paid-in capital   1,065,083     1,060,028     1,056,719     1,054,614     1,050,114  
    Retained earnings   2,611,401     2,538,385     2,495,651     2,428,940     2,494,572  
    Treasury stock(3)   (354,000 )   (332,994 )   (301,842 )   (301,868 )   (301,868 )
    Accumulated other comprehensive loss, net of taxes   (112,931 )   (136,162 )   (183,107 )   (128,157 )   (367,732 )
    Total stockholders’ equity   3,510,070     3,429,774     3,367,936     3,354,044     3,175,601  
    Total liabilities and stockholders’ equity $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
               
    (1) Preferred stock – issued shares   300,000     300,000     300,000     300,000     300,000  
    (2) Common stock – issued shares   51,747,305     51,707,542     51,520,315     51,494,260     51,474,581  
    (3) Treasury stock – shares at cost   6,000,469     5,682,609     5,286,503     5,286,503     5,286,503  
    TEXAS CAPITAL BANCSHARES, INC.        
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)        
    (dollars in thousands except per share data)        
      Three Months Ended June 30, Six Months Ended June 30,
        2025   2024   2025   2024
    Interest income        
    Interest and fees on loans $ 364,358   $ 345,251 $ 698,508   $ 676,130
    Investment securities   45,991     33,584   92,556     65,728
    Interest bearing cash and cash equivalents   29,218     43,233   75,792     97,588
    Total interest income   439,567     422,068   866,856     839,446
    Interest expense        
    Deposits   174,798     181,280   349,734     356,880
    Short-term borrowings   3,444     12,749   11,690     25,532
    Long-term debt   7,930     11,457   16,003     25,443
    Total interest expense   186,172     205,486   377,427     407,855
    Net interest income   253,395     216,582   489,429     431,591
    Provision for credit losses   15,000     20,000   32,000     39,000
    Net interest income after provision for credit losses   238,395     196,582   457,429     392,591
    Non-interest income        
    Service charges on deposit accounts   8,182     5,911   16,022     12,250
    Wealth management and trust fee income   3,730     3,699   7,694     7,266
    Brokered loan fees   2,398     2,131   4,347     4,042
    Investment banking and advisory fees   24,109     25,048   40,587     43,472
    Trading income   7,896     5,650   13,835     10,362
    Available-for-sale debt securities losses   (1,886 )   —   (1,886 )   —
    Other   9,640     7,985   17,914     14,351
    Total non-interest income   54,069     50,424   98,513     91,743
    Non-interest expense        
    Salaries and benefits   120,154     118,840   251,795     247,567
    Occupancy expense   12,144     10,666   22,988     20,403
    Marketing   3,624     5,996   8,633     12,032
    Legal and professional   11,069     11,273   26,058     27,468
    Communications and technology   24,314     22,013   47,956     43,127
    Federal Deposit Insurance Corporation insurance assessment   5,096     5,570   10,437     13,991
    Other   13,875     14,051   25,429     26,214
    Total non-interest expense   190,276     188,409   393,296     390,802
    Income before income taxes   102,188     58,597   162,646     93,532
    Income tax expense   24,860     16,935   38,271     25,728
    Net income   77,328     41,662   124,375     67,804
    Preferred stock dividends   4,312     4,312   8,625     8,625
    Net income available to common stockholders $ 73,016   $ 37,350 $ 115,750   $ 59,179
             
    Basic earnings per common share $ 1.59   $ 0.80 $ 2.52   $ 1.26
    Diluted earnings per common share $ 1.58   $ 0.80 $ 2.49   $ 1.25
    TEXAS CAPITAL BANCSHARES, INC.
    SUMMARY OF CREDIT LOSS EXPERIENCE
    (dollars in thousands)
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    Allowance for credit losses on loans:          
    Beginning balance $ 278,379   $ 271,709   $ 273,143   $ 267,297   $ 263,962  
    Allowance established for acquired purchase credit deterioration loans   —     —     —     2,579     —  
    Loans charged-off:          
    Commercial   13,020     10,197     14,100     6,120     9,997  
    Commercial real estate   431     500     2,566     262     2,111  
    Consumer   —     —     —     30     —  
    Total charge-offs   13,451     10,697     16,666     6,412     12,108  
    Recoveries:          
    Commercial   486     483     4,562     329     153  
    Commercial real estate   —     413     18     —     —  
    Consumer   —     4     15     —     —  
    Total recoveries   486     900     4,595     329     153  
    Net charge-offs   12,965     9,797     12,071     6,083     11,955  
    Provision for credit losses on loans   12,234     16,467     10,637     9,350     15,290  
    Ending balance $ 277,648   $ 278,379   $ 271,709   $ 273,143   $ 267,297  
               
    Allowance for off-balance sheet credit losses:          
    Beginning balance $ 53,865   $ 53,332   $ 45,969   $ 45,319   $ 40,609  
    Provision for off-balance sheet credit losses   2,766     533     7,363     650     4,710  
    Ending balance $ 56,631   $ 53,865   $ 53,332   $ 45,969   $ 45,319  
               
    Total allowance for credit losses $ 334,279   $ 332,244   $ 325,041   $ 319,112   $ 312,616  
    Total provision for credit losses $ 15,000   $ 17,000   $ 18,000   $ 10,000   $ 20,000  
               
    Allowance for credit losses on loans to total loans held for investment   1.16 %   1.24 %   1.21 %   1.23 %   1.23 %
    Allowance for credit losses on loans to average total loans held for investment   1.19 %   1.29 %   1.22 %   1.24 %   1.27 %
    Net charge-offs to average total loans held for investment(1)   0.22 %   0.18 %   0.22 %   0.11 %   0.23 %
    Net charge-offs to average total loans held for investment for last 12 months(1)   0.18 %   0.18 %   0.19 %   0.20 %   0.22 %
    Total provision for credit losses to average total loans held for investment(1)   0.26 %   0.32 %   0.32 %   0.18 %   0.38 %
    Total allowance for credit losses to total loans held for investment   1.40 %   1.48 %   1.45 %   1.43 %   1.44 %

    (1) Interim period ratios are annualized.

    TEXAS CAPITAL BANCSHARES, INC.          
    NON-PERFORMING ASSETS, PAST DUE LOANS AND CRITICIZED LOANS      
    (dollars in thousands)          
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    NON-PERFORMING ASSETS          
    Non-accrual loans held for investment $ 113,609   $ 93,565   $ 111,165   $ 88,960   $ 85,021  
    Non-accrual loans held for sale   —     —     —     —     —  
    Other real estate owned   —     —     —     —     —  
    Total non-performing assets $ 113,609   $ 93,565   $ 111,165   $ 88,960   $ 85,021  
               
    Non-accrual loans held for investment to total loans held for investment   0.47 %   0.42 %   0.50 %   0.40 %   0.39 %
    Total non-performing assets to total assets   0.36 %   0.30 %   0.36 %   0.28 %   0.28 %
    Allowance for credit losses on loans to non-accrual loans held for investment 2.4x 3.0x 2.4x 3.1x 3.1x
    Total allowance for credit losses to non-accrual loans held for investment 2.9x 3.6x 2.9x 3.6x 3.7x
               
    LOANS PAST DUE          
    Loans held for investment past due 90 days and still accruing $ 2,068   $ 791   $ 4,265   $ 5,281   $ 286  
    Loans held for investment past due 90 days to total loans held for investment   0.01 %   — %   0.02 %   0.02 %   — %
    Loans held for sale past due 90 days and still accruing $ —   $ —   $ —   $ —   $ 64  
               
    CRITICIZED LOANS          
    Criticized loans $ 637,462   $ 762,887   $ 713,951   $ 897,727   $ 859,671  
    Criticized loans to total loans held for investment   2.66 %   3.41 %   3.18 %   4.03 %   3.95 %
    Special mention loans $ 339,923   $ 484,165   $ 435,626   $ 579,802   $ 593,305  
    Special mention loans to total loans held for investment   1.42 %   2.16 %   1.94 %   2.60 %   2.72 %
    TEXAS CAPITAL BANCSHARES, INC.
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
    (dollars in thousands)
               
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025   2025 2024   2024   2024
    Interest income          
    Interest and fees on loans $ 364,358   $ 334,150 $ 340,388 $ 361,407   $ 345,251
    Investment securities   45,991     46,565   44,102   38,389     33,584
    Interest bearing deposits in other banks   29,218     46,574   53,081   52,737     43,233
    Total interest income   439,567     427,289   437,571   452,533     422,068
    Interest expense          
    Deposits   174,798     174,936   189,061   190,255     181,280
    Short-term borrowings   3,444     8,246   10,678   13,784     12,749
    Long-term debt   7,930     8,073   8,225   8,392     11,457
    Total interest expense   186,172     191,255   207,964   212,431     205,486
    Net interest income   253,395     236,034   229,607   240,102     216,582
    Provision for credit losses   15,000     17,000   18,000   10,000     20,000
    Net interest income after provision for credit losses   238,395     219,034   211,607   230,102     196,582
    Non-interest income          
    Service charges on deposit accounts   8,182     7,840   6,989   6,307     5,911
    Wealth management and trust fee income   3,730     3,964   4,009   4,040     3,699
    Brokered loan fees   2,398     1,949   2,519   2,400     2,131
    Investment banking and advisory fees   24,109     16,478   26,740   34,753     25,048
    Trading income   7,896     5,939   5,487   5,786     5,650
    Available-for-sale debt securities losses   (1,886 )   —   —   (179,581 )   —
    Other   9,640     8,274   8,330   11,524     7,985
    Total non-interest income   54,069     44,444   54,074   (114,771 )   50,424
    Non-interest expense          
    Salaries and benefits   120,154     131,641   97,873   121,138     118,840
    Occupancy expense   12,144     10,844   11,926   12,937     10,666
    Marketing   3,624     5,009   4,454   5,863     5,996
    Legal and professional   11,069     14,989   15,180   11,135     11,273
    Communications and technology   24,314     23,642   24,007   25,951     22,013
    Federal Deposit Insurance Corporation insurance assessment   5,096     5,341   4,454   4,906     5,570
    Other   13,875     11,554   14,265   13,394     14,051
    Total non-interest expense   190,276     203,020   172,159   195,324     188,409
    Income/(loss) before income taxes   102,188     60,458   93,522   (79,993 )   58,597
    Income tax expense/(benefit)   24,860     13,411   22,499   (18,674 )   16,935
    Net income/(loss)   77,328     47,047   71,023   (61,319 )   41,662
    Preferred stock dividends   4,312     4,313   4,312   4,313     4,312
    Net income/(loss) available to common shareholders $ 73,016   $ 42,734 $ 66,711 $ (65,632 ) $ 37,350
    TEXAS CAPITAL BANCSHARES, INC.
    TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1)
    (dollars in thousands)
      2nd Quarter 2025   1st Quarter 2025   2nd Quarter 2024   YTD June 30, 2025   YTD June 30, 2024
      Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate
    Assets                                      
    Investment securities(2) $ 4,573,164 $ 45,999 3.93 %   $ 4,463,876 $ 46,565 4.10 %   $ 4,427,023 $ 33,584 2.80 %   $ 4,518,822 $ 92,564 4.01 %   $ 4,363,195 $ 65,728 2.79 %
    Interest bearing cash and cash equivalents   2,661,037   29,218 4.40 %     4,255,796   46,574 4.44 %     3,273,069   43,233 5.31 %     3,454,011   75,792 4.43 %     3,662,348   97,588 5.36 %
    Loans held for sale   —   — — %     335   2 2.97 %     28,768   683 9.55 %     167   2 2.97 %     39,966   1,867 9.40 %
    Loans held for investment, mortgage finance   5,327,559   58,707 4.42 %     3,972,106   38,527 3.93 %     4,357,288   42,722 3.94 %     4,653,577   97,234 4.21 %     3,937,498   74,177 3.79 %
    Loans held for investment(3)   18,018,626   306,142 6.81 %     17,527,070   296,091 6.85 %     16,750,788   301,910 7.25 %     17,774,206   602,233 6.83 %     16,636,438   600,216 7.26 %
    Less: Allowance for credit losses on loans   278,035   — — %     272,758   — —       263,145   — — %     275,411   — —       256,541   — —  
    Loans held for investment, net   23,068,150   364,849 6.34 %     21,226,418   334,618 6.39 %     20,844,931   344,632 6.65 %     22,152,372   699,467 6.37 %     20,317,395   674,393 6.68 %
    Total earning assets   30,302,351   440,066 5.80 %     29,946,425   427,759 5.76 %     28,573,791   422,132 5.86 %     30,125,372   867,825 5.78 %     28,382,904   839,576 5.87 %
    Cash and other assets   1,117,118         1,157,184         1,177,061         1,137,040         1,117,763    
    Total assets $ 31,419,469       $ 31,103,609       $ 29,750,852       $ 31,262,412       $ 29,500,667    
                                           
    Liabilities and Stockholders’ Equity                                      
    Transaction deposits $ 2,213,037 $ 13,731 2.49 %   $ 2,163,250 $ 13,908 2.61 %   $ 2,061,622 $ 16,982 3.31 %   $ 2,188,282 $ 27,639 2.55 %   $ 2,034,057 $ 33,840 3.35 %
    Savings deposits   13,727,095   134,272 3.92 %     13,357,243   133,577 4.06 %     11,981,668   143,173 4.81 %     13,543,190   267,849 3.99 %     11,695,673   279,963 4.81 %
    Time deposits   2,361,525   26,795 4.55 %     2,329,384   27,451 4.78 %     1,658,899   21,125 5.12 %     2,345,543   54,246 4.66 %     1,689,112   43,077 5.13 %
    Total interest bearing deposits   18,301,657   174,798 3.83 %     17,849,877   174,936 3.97 %     15,702,189   181,280 4.64 %     18,077,015   349,734 3.90 %     15,418,842   356,880 4.65 %
    Short-term borrowings   306,176   3,444 4.51 %     751,500   8,246 4.45 %     927,253   12,749 5.53 %     527,608   11,690 4.47 %     919,670   25,532 5.58 %
    Long-term debt   649,469   7,930 4.90 %     660,445   8,073 4.96 %     778,401   11,457 5.92 %     654,927   16,003 4.93 %     818,955   25,443 6.25 %
    Total interest bearing liabilities   19,257,302   186,172 3.88 %     19,261,822   191,255 4.03 %     17,407,843   205,486 4.75 %     19,259,550   377,427 3.95 %     17,157,467   407,855 4.78 %
    Non-interest bearing deposits   8,191,402         7,875,244         8,647,594         8,034,196         8,642,685    
    Other liabilities   475,724         552,154         537,754         513,728         523,520    
    Stockholders’ equity   3,495,041         3,414,389         3,157,661         3,454,938         3,176,995    
    Total liabilities and stockholders’ equity $ 31,419,469       $ 31,103,609       $ 29,750,852       $ 31,262,412       $ 29,500,667    
    Net interest income   $ 253,894       $ 236,504       $ 216,646       $ 490,398       $ 431,721  
    Net interest margin     3.35 %       3.19 %       3.01 %       3.27 %       3.02 %

    (1) Taxable equivalent rates used where applicable.
    (2) Yields on investment securities are calculated using available-for-sale securities at amortized cost.
    (3) Average balances include non-accrual loans.

    GAAP TO NON-GAAP RECONCILIATIONS

    The following items are non-GAAP financial measures: adjusted non-interest income, adjusted non-interest expense, adjusted net income, adjusted net income available to common stockholders, adjusted pre-provision net revenue (“PPNR”), adjusted diluted earnings/(loss) per common share, adjusted return on average assets, adjusted return on average common equity, adjusted efficiency ratio, adjusted non-interest income to average earning assets and adjusted non-interest expense to average earning assets. These are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The table below provides a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures.

    These non-GAAP financial measures are adjusted for certain items, listed below, that management believes are non-operating in nature and not representative of its actual operating performance. Management believes that these non-GAAP financial measures provide meaningful additional information about Texas Capital Bancshares, Inc. to assist management and investors in evaluating operating results, financial strength, business performance and capital position. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. As such, these non-GAAP financial measures should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP.

    Reconciliation of Non-GAAP Financial Measures      
    (dollars in thousands except per share data) 2nd Quarter
    2025    		 1st Quarter
    2025    		 4th Quarter
    2024    		 3rd Quarter
    2024    		 2nd Quarter
    2024
    Net interest income $ 253,395   $ 236,034   $ 229,607   $ 240,102   $ 216,582  
               
    Non-interest income   54,069     44,444     54,074     (114,771 )   50,424  
    Available-for-sale debt securities losses, net   1,886     —     —     179,581     —  
    Non-interest income, adjusted   55,955     44,444     54,074     64,810     50,424  
               
    Non-interest expense   190,276     203,020     172,159     195,324     188,409  
    FDIC special assessment   —     —     —     651     (462 )
    Restructuring expenses   (1,401 )   —     —     (5,923 )   —  
    Non-interest expense, adjusted   188,875     203,020     172,159     190,052     187,947  
               
    Provision for credit losses   15,000     17,000     18,000     10,000     20,000  
               
    Income tax expense/(benefit)   24,860     13,411     22,499     (18,674 )   16,935  
    Tax effect of adjustments   774     —     —     44,880     104  
    Income tax expense/(benefit), adjusted   25,634     13,411     22,499     26,206     17,039  
               
    Net income/(loss)(1) $ 77,328   $ 47,047   $ 71,023   $ (61,319 ) $ 41,662  
    Net income/(loss), adjusted(1) $ 79,841   $ 47,047   $ 71,023   $ 78,654   $ 42,020  
               
    Preferred stock dividends   4,312     4,313     4,312     4,313     4,312  
               
    Net income/(loss) to common stockholders(2) $ 73,016   $ 42,734   $ 66,711   $ (65,632 ) $ 37,350  
    Net income/(loss) to common stockholders, adjusted(2) $ 75,529   $ 42,734   $ 66,711   $ 74,341   $ 37,708  
               
    PPNR(3) $ 117,188   $ 77,458   $ 111,522   $ (69,993 ) $ 78,597  
    PPNR(3), adjusted $ 120,475   $ 77,458   $ 111,522   $ 114,860   $ 79,059  
               
    Weighted average common shares outstanding, diluted   46,215,394     46,616,704     46,770,961     46,608,742     46,872,498  
    Diluted earnings/(loss) per common share $ 1.58   $ 0.92   $ 1.43   $ (1.41 ) $ 0.80  
    Diluted earnings/(loss) per common share, adjusted $ 1.63   $ 0.92   $ 1.43   $ 1.59   $ 0.80  
               
    Average total assets $ 31,419,469   $ 31,103,609   $ 32,212,087   $ 31,215,173   $ 29,750,852  
    Return on average assets   0.99 %   0.61 %   0.88 % (0.78 )%   0.56 %
    Return on average assets, adjusted   1.02 %   0.61 %   0.88 %   1.00 %   0.57 %
               
    Average common equity $ 3,195,041   $ 3,114,389   $ 3,120,933   $ 2,945,238   $ 2,857,661  
    Return on average common equity   9.17 %   5.56 %   8.50 % (8.87 )%   5.26 %
    Return on average common equity, adjusted   9.48 %   5.56 %   8.50 %   10.04 %   5.31 %
               
    Efficiency ratio(4)   61.9 %   72.4 %   60.7 %   155.8 %   70.6 %
    Efficiency ratio, adjusted(4)   61.1 %   72.4 %   60.7 %   62.3 %   70.4 %
               
    Average earning assets $ 30,302,351   $ 29,946,425   $ 31,033,803   $ 29,975,318   $ 28,573,791  
    Non-interest income to average earning assets   0.72 %   0.60 %   0.69 % (1.52 )%   0.71 %
    Non-interest income to average earning assets, adjusted   0.74 %   0.60 %   0.69 %   0.86 %   0.71 %
    Non-interest expense to average earning assets   2.52 %   2.75 %   2.21 %   2.59 %   2.65 %
    Non-interest expense to average earning assets, adjusted   2.50 %   2.75 %   2.21 %   2.52 %   2.65 %

    (1) Net interest income plus non-interest income, less non-interest expense, provision for credit losses and income tax expense/(benefit). On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted, provision for credit losses and income tax expense/(benefit), adjusted.
    (2) Net income/(loss), less preferred stock dividends. On an adjusted basis, net income/(loss), adjusted, less preferred stock dividends.
    (3) Net interest income plus non-interest income, less non-interest expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted.
    (4) Non-interest expense divided by the sum of net interest income and non-interest income. On an adjusted basis, non-interest expense, adjusted, divided by the sum of net interest income and non-interest income, adjusted.

    The MIL Network –

  • MIL-OSI: GSI Technology to Announce Fiscal First Quarter 2026 Results on July 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GSI Technology, Inc. (Nasdaq: GSIT), developer of the Gemini ® Associative Processing Unit (APU) for AI and high-performance parallel computing (HPPC) and a leading provider of high-performance memory solutions for networking, telecommunications and military markets, will announce financial results for its fiscal first quarter 2026 ended June 30, 2025 after the market close on Thursday, July 31, 2025. Management will also conduct a conference call to review the Company’s first quarter financial results and its current outlook for the second quarter of fiscal 2026 at 1:30 p.m. Pacific time (4:30 p.m. Eastern Time) on that same day.

    To participate in the call, please dial 1-877-407-3982 in the U.S., or 1-201-493-6780 for international, approximately 10 minutes prior to the above start time, and provide Conference ID 13754957. The call will also be streamed live via the internet at https://ir.gsitechnology.com/.

    A replay will be available from July 31, 2025, at 7:30 p.m. Eastern Time through August 7, 2025, at 11:59 p.m. Eastern Time by dialing toll-free for the U.S. 1-844-512-2921, or international 1-412-317-6671, and entering pin number 13754957. A webcast of the call will be archived on the Company’s investor relations website under the Events and Presentations tab.

    ABOUT GSI TECHNOLOGY
    GSI Technology is at the forefront of the AI revolution with our groundbreaking APU technology, designed for unparalleled efficiency in billion-item database searches and high-performance computing. GSI’s innovations, Gemini-I® and Gemini-II®, offer scalable, low-power, high-capacity computing solutions that redefine edge computing capabilities. GSI Technology is not just advancing technology; we’re shaping a smarter, faster, and more efficient future.

    For more information, please visit www.gsitechnology.com.

    Contacts:

    Investor Relations:
    Hayden IR
    Kim Rogers
    385-831-7337
    kim@haydenir.com

    Media Relations:
    Finn Partners for GSI Technology
    Ricca Silverio
    415-348-2724
    gsi@finnpartners.com

    Company:
    GSI Technology, Inc.
    Douglas M. Schirle
    Chief Financial Officer
    408-331-9802

    The MIL Network –

  • MIL-OSI Russia: China International Supply Chain Promotion Expo Shows Global Focus on Cooperation and Openness

    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 17 (Xinhua) — The 3rd China International Supply Chain Expo (CISCE) opened in Beijing on Wednesday, with global business leaders and officials unanimously calling for stronger supply chains through open markets, innovation and multilateral cooperation.

    “This event is not just a trade show. It is a forest of connections between economies, industries and people,” said John Denton, secretary general of the International Chamber of Commerce (ICC), in his speech. “We are here to promote our shared prosperity.”

    His words reflected a broad consensus among participants: building trust and deepening integration – from AI innovation to global manufacturing cooperation – are essential to effectively address growing global uncertainties.

    CISCE 2025, held from July 16 to 20, brought together more than 650 companies and institutions from 75 countries, regions and international organizations, as well as over 500 of their upstream and downstream partners.

    Foreign exhibitors accounted for 35 percent of the total number of participants, indicating sustainable business interest despite the strengthening geopolitical and economic headwinds.

    Organized by the China Council for the Promotion of International Trade (CCPIT), the event is the world’s first national-level exhibition dedicated exclusively to supply chains.

    Ahead of the event, Wang Yiwei, director of the Institute of International Affairs at Renmin University of China, said the active participation of multinational companies reflects “the continuing momentum and irreversibility of globalization.”

    He noted that China, with the world’s most complete and largest industrial system, is playing an increasingly important role in driving global development through digital and green transformation and is increasingly seen as a laboratory for innovation.

    China’s expanding role in global innovation ecosystems, especially in AI, was highlighted by US tech giant Nvidia CEO Jensen Huang, who spoke at CISCE for the first time.

    Calling China’s supply chain a “phenomenon,” he highlighted the country’s rapidly advancing AI technologies and their global reach. “China’s open-source AI is a catalyst for global progress,” he said, as it enables greater access to innovation and supports international cooperation on standards and safeguards.

    In an interview on the sidelines of the show, Jensen Huang reiterated Nvidia’s long-term commitment to the Chinese market. “If you want to stay in the game, you have to invest,” he said. “The market is moving so fast and the competition is so intense – we have to keep growing.”

    He added that China’s tech market is growing rapidly and remains a key focus for the company, calling it “a very important market with dynamic, innovative customers.”

    The exhibition comes as China has announced economic growth of 5.3 percent in the first half of 2025, despite growing challenges and external uncertainties.

    “China is entering a new cycle of market opportunities,” Lin Chunmei, general manager of Corning Greater China, told Xinhua. “With the rise of AI and cloud computing technologies, the AI infrastructure market is growing faster than ever.”

    She noted that China’s stable and resilient economy, along with a stable and open business environment, continues to support enterprise growth. “We have seen consistent improvements in China’s business environment over the past decades,” she added.

    At the opening ceremony, CCPIT and global business representatives launched a joint initiative calling for supply chain stability and security, digital and green transformation, and stronger international cooperation.

    CCPIT Chairman Ren Hongbin said the expo has become a platform for China’s high-level opening-up, calling for joint efforts to safeguard multilateralism and build a more connected future. -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: GL Supports Drive Testing of Voice Quality and Network Performance

    Source: GlobeNewswire (MIL-OSI)

    GAITHERSBURG, Md., July 17, 2025 (GLOBE NEWSWIRE) — GL Communications Inc., a global leader in telecom testing solutions, addressed the press regarding their Drive Testing for Voice Quality and Network Performance solution, designed to empower service providers, regulators, and device manufacturers to accurately assess wireless network quality across 5G, 4G, and 3G technologies.

    [For illustration, refer to drive-and-walk-testing-for-vqt.jpg]

    As mobile networks grow, real-world testing is essential to identify issues such as weak coverage, dropped calls, and slow data speeds. Drive testing captures performance data while moving through various environments, enabling operators to pinpoint problem areas, accelerate resolution, and enhance user experience.

    Robert Bichefsky, Director of Engineering at GL Communications Inc., highlighted the tool’s capabilities, stating, “GL’s Drive Testing for Voice Quality and Network Performance solution is powered by the ultra-portable vMobile™ device—a lightweight, handheld unit designed for both drive and walk testing. The system supports scalable, multi-device testing, connecting to two mobile phones via Bluetooth or a mobile radio via an analog Push-to-Talk interface. Through automated scripting, the vMobile™ can place, receive, and end calls while recording audio for detailed voice quality analysis.”

    One of the key features of the vMobile™ is its embedded Wi-Fi and Bluetooth connectivity, which facilitates remote control and real-time streaming of test results to a centralized system. This eliminates the need for manual data collection and enables field engineers to monitor test progress and results live. The device also integrates GPS for precise location stamping of all test events, ensuring that network performance data can be accurately mapped.

    [For more information, refer to Voice Quality Drive Test and Voice Quality Walk Test]

    For indoor environments where GPS signals may be weak or unavailable, GL’s Indoor Tracking System (ITS) provides an effective alternative, maintaining location accuracy during walk tests inside buildings or underground facilities.

    [For more information, refer to Voice Quality Testing Inside Buildings]

    The vMobile™ solution offers flexible deployment—whether vehicle-mounted for drive testing, used in labs, or carried for walk testing. It captures collected data, including Voice Quality Metrics based on ITU-standard algorithms such as POLQA, PESQ, and DAQ, all transmitted to a centralized database. Along with the Mean Opinion Score, it records one-way and round-trip delays, signal and noise levels, audio dropout, frequency and power analysis, data throughput, success/failure/drop rates, network delays, and signal strength. The solution also includes API support for automated control of vMobile™ scripts.

    In addition to voice testing, the solution enables simultaneous data testing using GL’s NetTest app, which runs TCP and UDP speed tests in parallel with voice calls. This multi-dimensional approach delivers a comprehensive view of network performance under real-world conditions.

    GL’s WebViewer™ software visualizes test results using interactive Google Maps and graphical dashboards, helping operators and regulators identify coverage gaps, performance issues, and areas needing improvement. It offers centralized data management, including real-time monitoring, custom report generation, and automated email distribution. With cloud access and remote-control support, users can easily manage and analyze multiple test campaigns across locations. Results can be exported in PDF, Excel, or CSV formats and viewed through line/bar graphs and map-based pass/fail indicators.

    [For more information, refer to Web Dashboard Displaying Results]

    About GL Communications Inc.,

    GL Communications is a global provider of telecom test and measurement solutions. GL’s solutions verify the quality and reliability of Wireless, Fiber Optic, TDM and Analog networks.

    Warm Regards,

    Vikram Kulkarni, PhD

    Phone: 301-670-4784 x114

    Email: info@gl.com

    The MIL Network –

  • MIL-OSI: GL Supports Drive Testing of Voice Quality and Network Performance

    Source: GlobeNewswire (MIL-OSI)

    GAITHERSBURG, Md., July 17, 2025 (GLOBE NEWSWIRE) — GL Communications Inc., a global leader in telecom testing solutions, addressed the press regarding their Drive Testing for Voice Quality and Network Performance solution, designed to empower service providers, regulators, and device manufacturers to accurately assess wireless network quality across 5G, 4G, and 3G technologies.

    [For illustration, refer to drive-and-walk-testing-for-vqt.jpg]

    As mobile networks grow, real-world testing is essential to identify issues such as weak coverage, dropped calls, and slow data speeds. Drive testing captures performance data while moving through various environments, enabling operators to pinpoint problem areas, accelerate resolution, and enhance user experience.

    Robert Bichefsky, Director of Engineering at GL Communications Inc., highlighted the tool’s capabilities, stating, “GL’s Drive Testing for Voice Quality and Network Performance solution is powered by the ultra-portable vMobile™ device—a lightweight, handheld unit designed for both drive and walk testing. The system supports scalable, multi-device testing, connecting to two mobile phones via Bluetooth or a mobile radio via an analog Push-to-Talk interface. Through automated scripting, the vMobile™ can place, receive, and end calls while recording audio for detailed voice quality analysis.”

    One of the key features of the vMobile™ is its embedded Wi-Fi and Bluetooth connectivity, which facilitates remote control and real-time streaming of test results to a centralized system. This eliminates the need for manual data collection and enables field engineers to monitor test progress and results live. The device also integrates GPS for precise location stamping of all test events, ensuring that network performance data can be accurately mapped.

    [For more information, refer to Voice Quality Drive Test and Voice Quality Walk Test]

    For indoor environments where GPS signals may be weak or unavailable, GL’s Indoor Tracking System (ITS) provides an effective alternative, maintaining location accuracy during walk tests inside buildings or underground facilities.

    [For more information, refer to Voice Quality Testing Inside Buildings]

    The vMobile™ solution offers flexible deployment—whether vehicle-mounted for drive testing, used in labs, or carried for walk testing. It captures collected data, including Voice Quality Metrics based on ITU-standard algorithms such as POLQA, PESQ, and DAQ, all transmitted to a centralized database. Along with the Mean Opinion Score, it records one-way and round-trip delays, signal and noise levels, audio dropout, frequency and power analysis, data throughput, success/failure/drop rates, network delays, and signal strength. The solution also includes API support for automated control of vMobile™ scripts.

    In addition to voice testing, the solution enables simultaneous data testing using GL’s NetTest app, which runs TCP and UDP speed tests in parallel with voice calls. This multi-dimensional approach delivers a comprehensive view of network performance under real-world conditions.

    GL’s WebViewer™ software visualizes test results using interactive Google Maps and graphical dashboards, helping operators and regulators identify coverage gaps, performance issues, and areas needing improvement. It offers centralized data management, including real-time monitoring, custom report generation, and automated email distribution. With cloud access and remote-control support, users can easily manage and analyze multiple test campaigns across locations. Results can be exported in PDF, Excel, or CSV formats and viewed through line/bar graphs and map-based pass/fail indicators.

    [For more information, refer to Web Dashboard Displaying Results]

    About GL Communications Inc.,

    GL Communications is a global provider of telecom test and measurement solutions. GL’s solutions verify the quality and reliability of Wireless, Fiber Optic, TDM and Analog networks.

    Warm Regards,

    Vikram Kulkarni, PhD

    Phone: 301-670-4784 x114

    Email: info@gl.com

    The MIL Network –

  • MIL-OSI: BTC Mining Has Gone Mobile, PFMCrypto Launches Mobile-Based BTC Cloud Mining Platform for Global Users

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 17, 2025 (GLOBE NEWSWIRE) — As Bitcoin’s ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of BTC-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine BTC remotely and receive daily BTC rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the Bitcoin economy through a streamlined, fully integrated platform.
    Explore the PFMCrypto website or download the app today.

    BTC Cloud Mining Is Here—Simple, Smart, and Rewarding:
    Traditionally known as the world’s first and most decentralized digital asset, Bitcoin now enters a new chapter with PFMCrypto’s latest innovation: easy-to-use cloud mining. Users can mine BTC directly or leverage PFMCrypto’s intelligent AI engine to automatically switch between the most profitable assets—including ETH, XRP, DOGE, USDC, and more—for optimized returns. All earnings are paid out daily in your chosen cryptocurrency, providing reliable income regardless of market fluctuations.
    Designed for both everyday users and professional investors, this platform empowers users to generate consistent crypto earnings from anywhere, at any time.

    Key Features of PFMCrypto’s BTC Cloud Mining Contracts:
    –  Full BTC Integration: Deposit, purchase, mine, and withdraw BTC directly within the platform.
    –  Multi-Coin Mining Support: Mine and receive earnings in ETH, XRP, DOGE, USDC, USDT, SOL, LTC, and BCH.
    –  AI Revenue Optimization: Proprietary algorithms automatically allocate mining power to the top-performing assets to maximize returns.
    –  100% Remote Access: No mining equipment needed—fully accessible via the PFMCrypto mobile app or browser.
    –  Capital Protection: All contracts include full principal return upon maturity, reducing risk while growing crypto assets.

    Mining Contracts for Every Budget and Strategy:
    PFMCrypto offers a broad range of mining contracts that support BTC-based deposits and withdrawals. Each contract is crafted for flexibility, predictable income, and effective risk management:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
    $5,000 Contract – 30 Days – Earn $78.50 daily
    $20,000 Contract – 45 Days – Earn $380.00 daily
    Whether you’re testing the waters or building a long-term portfolio, PFMCrypto provides low-risk, high-transparency contracts that deliver stable daily income in BTC.
    Click here to explore more BTC cloud contracts.

    Why PFMCrypto’s BTC Mining Stands Out?
    –  Accessible to Everyone: No mining rigs, no setup, no complexity—just tap and earn.
    –  BTC-Native Integration: Deposit, mine, and withdraw BTC in one seamless ecosystem.
    –  Stable Returns, Smart Allocation: An AI-powered engine dynamically adjusts mining strategies to maximize rewards and ensure daily income across all supported coins.
    –  Multi-Asset Flexibility: Mine BTC directly or diversify earnings into other top digital assets—all with one contract.
    –  Instant Setup, Global Access: Mine from anywhere using your phone or browser—securely and remotely.

    Get Started Today in 3 Easy Steps:
    1.  Sign Up – Create your account and receive a $10 welcome bonus
    2.  Choose a Plan – Select a short- or long-term contract (1–60 days available)
    3.  Start Earning – Track daily profits and withdraw in the token of your choice

    Start mining BTC now at: https://pfmcrypto.net 
    Or download the PFMCrypto mobile app (available for iOS & Android).

    BTC Mining for a Digital Future:
    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of BTC mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in BTC or diversify into major digital assets—all within a secure, fully remote environment.
    “Bitcoin has always been secure, decentralized, and globally trusted,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in Bitcoin’s future growth.”
    Markets may shift—but daily mining income can remain steady.

    Join the BTC mining revolution today at: https://pfmcrypto.net

    The MIL Network –

  • MIL-OSI China: Valid invention patents in China’s strategic emerging industries exceed 1.47M

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

    The number of valid invention patents in China’s strategic emerging industries had exceeded 1.47 million by the end of June 2025, accounting for around 70% of all high-value invention patents. These patents are concentrated in key areas such as artificial intelligence, new energy, green development, and life and health sciences, an official of the China National Intellectual Property Administration said on Thursday.

    MIL OSI China News –

  • MIL-OSI: 21Shares Releases Mid-Year 2025 State of Crypto: Predictions Realised, Trends Solidified

    Source: GlobeNewswire (MIL-OSI)

    21Shares reflects on a transformative first half – where bold forecasts became reality

    Zurich, 17 July 2025 – 21Shares, one of the world’s leading providers of cryptocurrency exchange-traded products (ETPs), today published its mid-year 2025 edition of the State of Crypto, offering a comprehensive, data-driven assessment of market performance and trends across the digital asset ecosystem.

    The report revisits 21Shares’ bold predictions for 2025, first laid out in December 2024, and evaluates how each thesis has unfolded across key narratives – from nation-state adoption of Bitcoin to stablecoins leading crypto’s real-world adoption. Many of the forward-looking theses put forward at the end of 2024 have already materialised, and the report highlights how early conviction in structural shifts around crypto has proven prescient.

    Among the standout findings:

    • Nation-states are adopting Bitcoin as a strategic reserve asset: Our prediction that another nation would adopt Bitcoin as a strategic reserve asset in 2025 has largely come to fruition. By launching its Strategic Bitcoin Reserve, the U.S. became the largest public Bitcoin holder with over 200,000 BTC. Countries like Bhutan and El Salvador continue to maintain sizable Bitcoin holdings, Japan and the Czech Republic are now actively exploring Bitcoin reserve strategies, and Pakistan recently announced the creation of its own Strategic Bitcoin Reserve.
    • Crypto ETPs will drive further institutional adoption, and will reach $250 billion in AUM globally: Total AUM in global crypto ETPs has already reached $180 billion, and, if macro conditions improve, a 38% rise in valuations alone would push global AUM past our prediction of $250 billion. Another key sub-prediction has also come to pass – one Bitcoin ETF has officially entered the world’s top 25 ETFs by AUM.
    • Solana will continue to eat Ethereum’s market share and will reach an all-time high in total value locked: Our prediction that Solana would cement its position as Ethereum’s top challenger has been decisively confirmed. Real economic value, a measure of actual blockchain usage via user-paid fees shows a shifting landscape. Solana has narrowed the gap with Ethereum from $73M vs. $142M in October 2024 to $30.5M vs. $39M in June 2025. Despite softer market activity, the reality is that Solana is gaining momentum and biting into Ethereum’s market share.
    • Many jurisdictions are reconsidering retail crypto bans: We predicted that 2025 would mark a turning point in global retail access to crypto, and that shift is now visibly underway. In the UK, regulators are moving to lift the retail ban on crypto ETNs, exactly as forecasted. Japan has proposed legalizing Bitcoin ETFs, while South Korea lifted its corporate crypto trading ban and is preparing to open the door to crypto ETFs. 
    • Stablecoins lead crypto’s real-world adoption: Stablecoin AUM stands at an all-time high of $252 billion, with 35.7 million active addresses. Our prediction that nation-states, financial institutions, and Web2 companies would deepen their stablecoin adoption is playing out. In the US, stablecoin legislation through the GENIUS Act is gaining momentum. Internationally, Hong Kong has launched a stablecoin sandbox alongside a licensing regime, and Thailand is piloting a retail baht-backed stablecoin. In traditional finance, global banks are beginning to step in. 

    “This report reflects just how much the industry has matured,” said Adrian Fritz, Head of Research at 21Shares. “We’re seeing Bitcoin redefined as a macro asset, Solana leading real-world adoption, and stablecoins transforming global finance – all while institutional and regulatory frameworks finally catch up.”

    The State of Crypto is produced by 21Shares’ research team and is part of the firm’s broader commitment to investor education.

    To read the full report, click here.

    About 21Shares

    21Shares is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialised research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralised finance. For more information, please visit www.21Shares.com

    Contact: matteo.valli@21shares.com

    DISCLAIMER

    This report has been prepared and issued by 21Shares AG for publication globally. All information used in the publication of this report has been compiled from publicly available sources that are believed to be reliable, however we do not guarantee the accuracy or completeness of this report. Crypto asset trading involves a high degree of risk. The crypto asset market is new to many and unproven and may have the potential to not grow as expected.

    Currently, there is relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. In order to participate in the trading of crypto assets, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment.

    Nothing should be considered as an offer by 21Shares AG and/or its affiliates to sell or solicitation by 21Shares AG or its parent of any offer to buy bitcoin or other crypto assets or derivatives. This report is provided for information and research purposes only and should not be construed or presented as an offer or solicitation for any investment. The information provided does not constitute a prospectus or any offering and does not contain or constitute an offer to sell or solicit an offer to invest in any jurisdiction.

    Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax, or other advice and users are cautioned against basing investment decisions or other decisions solely on the content hereof.

    ###

    Attachment

    The MIL Network –

  • MIL-OSI Russia: The East is a promising business: Polytechnic and Chinese institutes on the way to new projects

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    A delegation from Jiangsu Industrial Technology Research Institute (JITRI) and Tsinghua University Suzhou Automobile Research Institute (TSARI) arrived at Peter the Great St. Petersburg Polytechnic University to strengthen their strategic partnership. The visit was led by JITRI First Deputy Director Gao Jun.

    China is a key partner of SPbPU: the university has more than 60 active agreements with Chinese universities and companies, including two large joint institutes in Jiangsu and Xi’an, where over a thousand students study. SPbPU itself has 2,200 Chinese students — almost half of the foreign contingent.

    The meeting participants discussed the expansion of academic mobility programs. Of particular interest was the JITRI Co-op internship program, which provides paid internships at leading Chinese research institutes and companies in the following areas: new materials, information and communication technologies, energy, biotechnology, and advanced manufacturing. The Polytechnic University confirmed its readiness to organize an open competition among talented students and young scientists to participate in the program.

    Scientific cooperation will also receive a boost: the parties agreed to intensify joint projects in the field of digital twins of power plants, artificial intelligence for industrial systems and polymer composite materials. Three major projects are already being implemented, including the BRICS grant won in sustainable development management with Nanjing University.

    “Today, our laboratories are looking to the East,” said Dmitry Arsenyev, Vice-Rector for International Affairs at SPbPU. “China has not only caught up with the technological leaders, but is setting new standards, and the Polytechnic University will orient students toward internships at JITRI, in your laboratories and at production facilities. This is a new vector — from the fundamental research of the Polytechnic University to Chinese industrial practice.”

    In response, the JITRI delegation proposed the creation of working groups to develop specific initiatives, including joint workshops and the involvement of industrial partners.

    Prospects for cooperation include the participation of the Russian Academy of Sciences: SPbPU is closely connected with its St. Petersburg branch, which unites 50 research institutes. Rector of SPbPU and Chairman of the St. Petersburg branch of the Russian Academy of Sciences Andrey Rudskoy signed a cooperation agreement in 2023 with Director of the Shanghai branch of the Chinese Academy of Sciences Hu Jinbo.

    “The doors of any institute of the Academy of Sciences are open to JITRI,” said Dmitry Germanovich, proposing to synchronize efforts with the Chinese Academy of Sciences. To ensure prompt work, the parties plan to hold a virtual round table in the coming months.

    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 United Kingdom: MAIB Annual Report 2024 published

    Source: United Kingdom – Government Statements

    News story

    MAIB Annual Report 2024 published

    This report provides information on the branch’s activities during 2024.

    Today, we have issued our annual report which details the work of the branch during 2024 and includes:

    • a statement from the Chief Inspector of Marine Accidents
    • an overview of accidents reported
    • a summary of investigations started
    • details of publications issued
    • recommendations issued in 2024 and an update on their status
    • updates on open recommendations made in previous years
    • marine accident statistics

    Read more in our Annual Report 2024.

    Media enquiries (telephone only)

    Media enquiries during office hours 01932 440015

    Media enquiries out of hours 0300 7777878

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: AAIB Report: Grob G109B, G-CHYB

    Source: United Kingdom – Government Statements

    News story

    AAIB Report: Grob G109B, G-CHYB

    Grob G109B (G-CHYB), aircraft pitched down from final approach and struck trees before coming to rest on the A419 near Aston Down Airfield, Gloucestershire, 27 August 2024

    Grob 109B

    The aircraft was on the late stage of final approach to Aston Down Airfield when it pitched down rapidly. The aircraft struck trees and then came to rest on the A419. Both those on board were injured and taken to hospital by the emergency services. The aircraft was severely damaged and the A419 was closed for several hours. The passenger, an experienced glider pilot, was flying the approach. The passenger’s gliding experience meant that they would normally fly the approach with their right hand on the control column and their left hand controlling the rate of descent using the airbrake handle. Flying the Grob 109 from the right seat, this control arrangement was reversed. When attempting to reduce the rate of descent, the passenger inadvertently pushed forward on the control column which caused a rapid increase in the rate of descent which could not be corrected before the aircraft struck the ground.

    Read the report

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: AAIB Report: Guimbal Cabri G2, G-FICH

    Source: United Kingdom – Government Statements

    News story

    AAIB Report: Guimbal Cabri G2, G-FICH

    Guimbal Cabri G2 (G-FICH), uncontrolled yaw resulting in ground contact, Leicester Airport, Leicestershire, 27 September 2024

    Accident site

    During a period of hovering at the end of an instructional flight, the helicopter began to yaw to the left. This yaw rapidly accelerated and G-FICH completed four rotations before striking the ground. Whilst the commander reported no injuries after the accident, he died seven days later from an unrelated medical condition.

    The helicopter examination did not reveal any technical faults that could have caused or contributed to the accident. Evidence from the manufacturer and operator demonstrated that applying and maintaining full opposite pedal will stop rotation in the situation encountered on the accident flight. It is likely that full pedal was not applied and/or not held long enough to effect a recovery.

    The helicopter was equipped with adjustable pedals on the right side but not on the left where the commander was sat. The manufacturer has taken safety action to install adjustable pedals in the left seat of all new models of the Cabri G2 as well as to add a pre-flight check of the travel of the fenestron.

    Read the report

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI China: Third China International Supply Chain Expo opens in Beijing

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

    The third China International Supply Chain Expo (CISCE) opened in Beijing on Wednesday, bringing together 651 companies and organizations from 75 countries, regions and international organizations.

    The expo, themed “Connecting the World, Creating the Future,” aims to showcase new technologies, products and services across various supply chain sectors while promoting global cooperation.

    Hosted by the China Council for the Promotion of International Trade (CCPIT), CISCE is the world’s first national-level expo dedicated solely to supply chains. The event provides a platform to promote synergy across upstream and downstream sectors and integration among businesses of all sizes.

    This year’s expo features six key industrial chains and one exhibition area: advanced manufacturing chain, smart vehicle chain, green agriculture chain, clean energy chain, digital technology chain, healthy life chain, alongside a dedicated supply chain services exhibition area.

    CCPIT Chairman Ren Hongbin emphasized the expo’s role as a platform for China’s high-standard opening up. He urged collective efforts to safeguard multilateralism and build a more interconnected future.

    John Denton, secretary-general of the International Chamber of Commerce, cited an old Chinese proverb to underscore the importance of reviving collaborative efforts for mutual prosperity. He warned of severe disruption to the global trade system if current tensions escalate. “This event is much more than an expo,” Denton said. “It is a forest of connections between economies, industries and people.”

    U.S. tech giant Nvidia, a new exhibitor this year, was represented by founder and CEO Jensen Huang. In his opening address, Huang praised China’s rapid advancements in artificial intelligence, describing the Chinese market as both “large” and “dynamic.” He affirmed Nvidia’s commitment to collaborating with partners to create a prosperous future in the AI era.

    The expo is expected to generate significant cooperation. Organizers said 170 international delegations will visit for discussions and business negotiations, a 120% increase from the previous session.

    MIL OSI China News –

  • MIL-OSI Africa: Government scales up youth-focused initiatives 

    Source: Government of South Africa

    As government pursues faster and more inclusive economic growth, the fight against youth unemployment remains a priority, with large-scale programmes underway to create opportunities for young people to earn an income, develop skills and gain work experience.

    Delivering the Presidency Budget Vote for the 2025/2026 financial year, President Cyril Ramaphosa said the greatest challenge that faces South Africa today is youth unemployment. 

    “Approximately 3.8 million out of 10.3 million young people aged 15 to 24 years are not in employment, education or training. These are young people with energy, initiative and untapped potential,” President Ramaphosa said.

    In his address on Wednesday, the President said government has launched large-scale programmes to provide young people with income opportunities, skills development and work experience.

    “Through innovative and targeted interventions, the Presidential Employment Stimulus has continued to demonstrate that when a society invests in its people, the dividends are measured in hope restored and futures rewritten,” he said. 

    He cited the Basic Education Employment Initiative, which entered a new phase in June this year, placing over 200 000 young people as school assistants in more than 2 0000 schools. 

    To date, this initiative has created over one million posts for young people to serve as assistants in schools, supporting teachers in classrooms, school administration and school maintenance.

    “The programme has been designed to strengthen the learning environment and learning outcomes in schools. In the process, participants gain work experience and skills vital to finding employment and starting their own businesses,” the President said.

    He added that the SAYouth.mobi platform was launched in 2020 to tackle the barriers faced by young people such as experience and the lack of transport or lack of data money.

    “There are now over 4.7 million young people registered on the SAYouth network. Young people have been supported to access over 1.67 million earning opportunities.

    “A significant achievement of SA Youth is that the vast majority of earning opportunities have been accessed by the most excluded young people. Seventy percent of opportunities have been accessed by young black African women,” President Ramaphosa said.

    The President noted that around 65% of the platform’s users live in grant-receiving households, demonstrating that “we are reaching some of the people who have the greatest need.”

    Another impactful initiative mentioned was the Youth Employment Service (YES), which he said has become the largest corporate-funded youth jobs programme globally. 

    The programme has to date provided over 190 000 young people with year-long work experience opportunities.

    “Through all of these programmes coordinated by the Presidency, we are changing the way that government works and scaling innovative solutions to our unemployment challenge,” the President said. 

    Education 

    Turning to education, President Ramaphosa underscored its role in fighting poverty, with a focus on early childhood development, foundational learning, and access to well-run schools.

    “We continue our efforts to ensure that learners have a safe and conducive environment in which to learn. To date, we have completed 97 percent of the sanitation projects under the SAFE initiative aimed at getting rid of pit latrines in our schools.”

    He also confirmed the implementation of the Basic Education Laws Amendment (BELA) Act, expansion of vocational training, and broader access to higher education through the National Student Financial Aid Scheme (NSFAS).

    Having come into effect in December last year, the Act amends sections of the South African Schools Act of 1996 (SASA) and the Employment of Educators Act, 1998 (EEA) to account for developments in the education landscape since the enactment of the original legislation.

    Through the NSFAS, government is expanding access for students from poor and working class families, and with the support of the National Skills Fund, assistance is being expanded to the ‘missing middle’.

    “This year, NSFAS is supporting over 800 000 university and TVET [technical and vocational education and training] college students. This provides opportunities to young people today that will, in time, transform our economy and society,” he said. 

    NHI

    On healthcare and the National Health Insurance (NHI), the President said government is addressing the poor state of health facilities and is hiring more professionals, while also permanently employing community health workers.

    “To address the severe challenges in the health system and in preparation for the implementation of the NHI, we are directing resources towards the hiring of more doctors, nurses and health professionals, the permanent employment of community health workers, and the purchase of new equipment and supplies.

    “We are determined to meet our HIV testing and treatment targets, despite the withdrawal of US funding,” he added, noting that Deputy President Paul Mashatile continues to lead the HIV/AIDS response through the South African National AIDS Council.

    Last week, Health Minister, Dr Aaron Motsoaledi, said the National Treasury has allocated R753 million to the Department of Health — under Section 16 of the Public Finance Management Act (PFMA) — to help bridge the shortfall caused by the United States’ decision to cut HIV and tuberculosis (TB) grants.

    READ | Treasury allocates emergency funding of R750m towards HIV and TB after US funding cuts

    The United States government’s withdrawal of funding to key health initiatives, including the President’s Emergency Plan for AIDS Relief P(EPFAR), which was established by former President George W Bush in 2003, led to a loss of R7.9 billion spent on HIV/Aids programmes annually.
     

    Governance 

    On governance, the President said building a capable and corruption-resistant state remains a priority. 

    “For us to effectively tackle any of these challenges, we need to build a capable state with institutions that are resistant to corruption or interference. 

    “The recent adoption of the Public Service Commission Bill by the National Assembly marks a crucial milestone, enhancing the independence and effectiveness of the Public Service Commission in promoting ethical governance,” the President said. 

    President Ramaphosa said the bill will allow the Commission to function as an impartial constitutional body and ensure that the executive is compelled to act on the Commission’s recommendations, thereby reinforcing accountability across the public sector. 

    Digital Transformation Roadmap

    He added that the Digital Transformation Roadmap launched in April 2025, is set to make government work more efficiently while also bringing it closer to the people.

    READ | Digital Transformation Roadmap to make it easier to access government services

    “The roadmap focuses on building digital public infrastructure including a digital identity for every South African citizen. 

    “It includes a digital payments system to enable instant, low-cost payments, and interoperable data systems to ensure that citizens only have to provide their information to government once,” said President Ramaphosa. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Security: USS Pearl Harbor (LSD 52) U.S. Navy Sailors perform bridge operations [Image 1 of 7]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    PACIFIC OCEAN (July 15, 2025) Seaman Asia Blackwell, from Covington, Virginia steers the helm in the bridge aboard the Harpers Ferry-class amphibious dock landing ship USS Pearl Harbor (LSD 52) in the Indo-Pacific region on July 15, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communication Specialist Seaman Isabel Mendoza)

    Date Taken: 07.15.2025
    Date Posted: 07.17.2025 03:22
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  • MIL-OSI Security: USS Pearl Harbor (LSD 52) U.S. Navy Sailors perform bridge operations [Image 3 of 7]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    PACIFIC OCEAN (July 15, 2025) Quartermaster Seaman Shaniya Mckinney, from Johnston, South Carolina works on shipboard qualifications in the bridge aboard the Harpers Ferry-class amphibious dock landing ship USS Pearl Harbor (LSD 52) in the Indo-Pacific region on July 15, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communication Specialist Seaman Isabel Mendoza)

    Date Taken: 07.15.2025
    Date Posted: 07.17.2025 03:22
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  • MIL-OSI United Nations: 17 July 2025 Departmental update Global leaders discuss most pressing questions around AI in health care and traditional medicine at UN Summit

    Source: World Health Organisation

    The AI for Good Global Summit included a session focused on artificial intelligence (AI) in health care and traditional medicine – with keynotes from the World Health Organization (WHO), the International Telecommunication Union (ITU) and the World Intellectual Property Organization (WIPO).

    Held annually, the Summit is the United Nations’ (UN) leading platform on AI to solve global challenges. The 2025 Summit ran from 8–11 July in Geneva, Switzerland and was organized by ITU in partnership with over 40 UN agencies and co-convened with the Government of Switzerland.

    It examined AI-driven solutions for critical global challenges, including climate change, health inequality, humanitarian action and disaster response – while also championing ethical and sustainable AI development.

    The Summit featured a Centre Stage Keynote session examining the progress and future priorities for the Global Initiative on AI for Health (GI-AI4H), which was launched in July 2023 by WHO, ITU and WIPO.

    Although traditional medicine has been instrumental to the health and well-being of people for centuries, responsible use of AI could unlock even greater potential for good. “For us at WHO, AI is nothing short of a game changer in public health, in clinical medicine, and in maintaining our well-being as individuals,” said Alain Labrique, Director for the Department of Digital Health and Innovation, WHO.

    In the session, Dr Labrique explained that WHO will be focusing its efforts and expertise on some key priority areas: governance – asking if countries are ready to take on AI-based systems within their health system; regulation – assessing if countries have the necessary regulatory and assessment frameworks to evaluate whether an AI tool is good; and localization – evaluating if an AI tool is appropriate for the context in which it is being deployed.

    The session unveiled findings from GI-AI4H’s most recent initiative, Mapping the application of artificial intelligence in traditional medicine: technical brief, examining the use and future potential of AI in traditional medicine.

    “This first joint AI publication fittingly begins with traditional medicine in bridging the historical foundations and technological frontiers of knowledge,” said Dr Shyama Kuruvilla, Director a.i. of the WHO Global Traditional Medicine Centre. “It advocates for responsible AI applications across time, scientific advances, and cultures in contributing to planetary health and well-being.”

    The technical brief was also explored in depth at a Summit Workshop, Enabling AI for health innovation and access. During the workshop, Dr Kuruvilla  discussed the diverse ways that AI is currently being used in traditional medicine while also highlighting gaps in knowledge and understanding, as well as risks and challenges.

    MIL OSI United Nations News –

  • MIL-OSI China: Geeking out, China’s high-tech factory floors adored as ‘industrial Disneyland’

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

    Robots work at Xiaomi’s automobile factory in Beijing, capital of China, June 16, 2025. [Photo/Xinhua]

    Getting a pass into Xiaomi’s car plant in suburban Beijing feels like snagging front-row tickets to the world’s hottest concert.

    “Application accepted!” Wang Shuang crowed, posting a screenshot to social media. “The last time I felt this giddy was when I landed a Taylor Swift ticket.”

    Welcome to China’s newest travel craze: high-tech factories have joined ancient palaces and world-class museums as the nation’s must-see destinations.

    China has dominated as the world’s manufacturing powerhouse for fifteen straight years. Yet, in just the past two years, the robust rise of smart manufacturing has revolutionized the country’s once dreary, clang-and-hiss assembly lines into a cultural phenomenon or “industrial Disneyland.”

    Chinese manufacturers aren’t pioneering this factory fascination. France’s Citroen ignited the trend in the 1950s. Boeing and Toyota plants remain the top U.S. and Japan draws.

    As the country’s industrial prowess ascends from the lower rungs of the global supply chain to a technology-driven frontier, a profound shift has taken hold. An increasing number of Chinese people now celebrate mechanical ingenuity with reverence, as their pride in homegrown sectors flourishes.

    The registration page of Xiaomi, a headline-grabbing newcomer to the electric vehicle (EV) sector last year, was still live ticking: beside the tiny line “20 spots only,” the counter read “4,060 already applied” as a scramble ensued to witness robotic arms assembling electric cars.

    Wang snagged that coveted ticket only after camping on the official website for days, finger tap-dancing like a twitchy trigger, until the confirmation flashed alive.

    Tech odyssey 

    Under the scorching sun, the lucky visitor Wang stepped into the factory complex as scheduled. The two-hour journey felt like a tech-filled odyssey. She rode a shuttle vehicle that zipped through the six major workshops: stamping, large die casting, body welding, painting, battery assembly and final assembly.

    In her experience, factories were enclosed, dusty, and filled with workers in safety helmets. This time, she saw robotic arms working with micron-level precision on the factory floor and AI-driven robots moving freely along planned routes to deliver battery cell components to their destinations.

    “It takes just 76 seconds to churn out a new car,” Wang exclaimed in amazement. “Quicker than whipping up a latte.”

    NIO, another domestic EV manufacturer, has opened its “Second Advanced Manufacturing Base” to the public since October 2023. Visitors can also tour the facility, which is filled with robotic arms, from an elevated corridor. In 2024, over 130,000 people visited the site, including about 900 from overseas.

    The moves to open production lines to the public came as China’s new energy vehicles have topped the global production and sales charts for nine consecutive years. Along with lithium batteries and photovoltaic products, they form China’s “new export trio,” showcasing the technological upgrades of “Made in China.”

    Freya Zhang, a research analyst at the investment consulting firm Tech Buzz China, told the journal Wired that China’s EV factory tour “offers a chance to not only see the production line up close, but also experience the human side of the brand.”

    Beyond EVs, emerging tech hubs are becoming pilgrimage sites. In Hangzhou, an innovative magnet in east China, robotics pioneers like Unitree Robotics draw curated tour groups.

    At the AG600 final-assembly plant in the southern Chinese city of Zhuhai — host city of China’s premier airshow — a steady stream of visitors was filing through the country’s only extensive special-mission aircraft production line that is open to the public.

    The AG600 line attracts roughly 40,000 visitors a year, with open-day slots almost booked out to a crowd dominated by the young. The domestically developed amphibious aircraft, which has already entered mass production, can swiftly shuttle between water sources and fire sites, making it a powerful tool for forest firefighting.

    The destination of industry tourism is also emerging from unexpected origins: waste treatment plants. Not far from Zhuhai, Shenzhen, an economic hub of China, now welcomes visitors to four such “eco-parks.”

    One social platform user from Xiaohongshu posted about their visit: The true spectacle lies in the industrial-scale choreography of the facility’s central sorting hall, where a colossal hydraulic claw, operating with uncanny precision, plunges into mountains of refuse and sorts recyclables. “It provides a sense of satisfaction akin to that of playing a claw crane game.”

    New growth 

    China hosts over 40 percent of the world’s “lighthouse factories,” and more assembly lines have been digitally transformed, creating an ideal foundation for transforming humans on factory floors into a cultural canvas.

    More Chinese cities have made industrial tourism their new engines for growth. In February, Beijing vowed to create five national industrial-tourism demonstration bases by 2027 and become a leading destination by 2029.

    The city’s tourism blueprint includes opening high-level autonomous driving scenarios, rocket institutes, low-altitude economy, and green energy routes, while inviting research institutes to grant public access to select labs and assembly halls.

    Local governments are also looking to outfit industrial tourism itself with next-gen stagecraft: Shanghai is set to weave large language models, the metaverse and blockchain into richer cultural narratives, while Hunan province in central China will deploy AR, VR, AI, 5G, 3D cinema, and holography to build fully immersive worlds.

    “Industrial tourism is a nexus where secondary and tertiary industries converge,” said Chen Wei, an expert from Tsinghua University. “It can fuel consumption, expand domestic demand, and promote industrial science education.”

    Among the facilities listed as national industrial tourism demonstration bases are Jiangnan Shipyard in Shanghai, the aerospace supercomputing center in the island province of Hainan, and the Zhuzhou electric locomotive production line in Hunan, which is a cradle of China’s high-speed trains, according to China’s Ministry of Culture and Tourism.

    “Fast-tracking industrial tourism is a strategic move in building a modern industrial system, which serves to unlock growth potential for regional economic vitality,” said Chen. 

    MIL OSI China News –

  • MIL-OSI China: Tesla showcases Optimus robot at China Intl Supply Chain Expo

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

    Visitors watch a Tesla Bot presentation video at Tesla’s exhibition stand during the third China International Supply Chain Expo in Beijing, July 16, 2025. [Photo by Xu Xiaoxuan/China.org.cn]

    Tesla is drawing attention this week at the Smart Vehicle Chain zone of the third China International Supply Chain Expo (CISCE) with its humanoid robot Optimus and Model Y vehicle, demonstrating the company’s push to commercialize robotics technology developed for its electric vehicles.

    First unveiled in October 2022, Optimus is now in its second generation with enhanced full-body control and better balance. The robot’s walking speed has increased by 30% from its previous version, according to Tesla. Its 10 fingers now have tactile perception, allowing it to handle delicate tasks such as holding fragile eggs or lifting heavy boxes. Optimus can mimic human actions, including sorting batteries using a vision-based neural network.

    Tesla sales director Yang Jingjing said Optimus is already performing practical tasks in Tesla factories, including moving batteries and other heavy items. The robot can even lift a piano weighing half a ton, she said. Tesla plans to market the robots for domestic chores in the future. Priced at under $20,000, Optimus is expected to enter mass production in 2026.

    Tesla vehicles are equipped with A14 intelligent assisted driving hardware, featuring Tesla-developed chips that function like the human brain. These chips process environmental data from cameras and use advanced algorithms to analyze driving conditions and guide vehicle behavior. The same chip is integrated into Optimus, enabling it to learn continuously by updating its software in real time, improving recognition accuracy and operational efficiency.

    This iterative learning system supports more advanced applications, including enhanced autonomous driving and expanding the robot’s range of capabilities. Tesla says it aims to harness AI to boost productivity and free people to focus on higher-value tasks.

    When asked why Tesla chose to develop a robot using the same architecture as its vehicles, Yang explained that as early as July 2016, the company changed its website from teslamotors.com to tesla.com, signaling a strategic shift beyond car manufacturing. Tesla sees itself not just as an electric vehicle maker but also as an artificial intelligence and robotics company.

    Tesla’s business now spans a broad range of sectors, with an integrated ecosystem that includes transportation, energy generation and storage, and AI computing, covering solar power, autonomous taxis and a global supercharging network.

    MIL OSI China News –

  • US Senate passes aid, public broadcasting cuts in victory for Trump

    Source: Government of India

    Source: Government of India (4)

    The U.S. Senate early on Thursday approved President Donald Trump’s plan for billions of dollars in cuts to funding for foreign aid and public broadcasting, handing the Republican president another victory as he exerts control over Congress with little opposition.

    The Senate voted 51 to 48 in favor of Trump’s request to cut $9 billion in spending already approved by Congress.

    Most of the cuts are to programs to assist foreign countries suffering from disease, war and natural disasters, but the plan also eliminates all $1.1 billion the Corporation for Public Broadcasting was due to receive over the next two years.

    Trump and many of his fellow Republicans argue that spending on public broadcasting is an unnecessary expense and reject its news coverage as suffering from anti-right bias.

    Standalone rescissions packages have not passed in decades, with lawmakers reluctant to cede their constitutionally mandated control of spending. But Trump’s Republicans, who hold narrow majorities in the Senate and House, have shown little appetite for resisting his policies since he began his second term in January.

    The $9 billion at stake is extremely small in the context of the $6.8 trillion federal budget, and represents only a tiny portion of all the funds approved by Congress that the Trump administration has held up while it has pursued sweeping cuts, many ordered by billionaire Elon Musk’s Department of Government Efficiency, or DOGE.

    As of mid-June, Trump was blocking $425 billion in funding that had already been appropriated and previously approved by Congress, according to Democratic lawmakers tracking frozen funding.

    However, Trump and his supporters have promised more of the “rescission” requests to eliminate previously approved spending in what they say is an effort to pare back the federal government.

    The House of Representatives passed the rescissions legislation without altering Trump’s request by 214-212 last month. Four Republicans joined 208 Democrats in voting no.

    But after a handful of Republican senators balked at the extent of the cuts to global health programs, Russell Vought, director of the Office of Management and Budget, said on Tuesday that PEPFAR, a global program to fight HIV/AIDS launched in 2003 by then-President George W. Bush, was being exempted.

    The change brought the size of the package of cuts to $9 billion from $9.4 billion, requiring another House vote before the measure can be sent to the White House for Trump to sign into law.

    The rescissions must pass by Friday. Otherwise, the request would expire and the White House will be required to adhere to spending plans passed by Congress.

    REPUBLICAN ‘NO’ VOTES

    Two of the Senate’s 53 Republicans – Lisa Murkowski of Alaska and Susan Collins of Maine – joined Democrats in voting against the legislation.

    “You don’t need to gut the entire Corporation for Public Broadcasting,” Murkowski said in a Senate speech.

    She said the Trump administration also had not provided assurances that battles against diseases such as malaria and polio worldwide would be maintained. Most of all, Murkowski said, Congress must assert its role in deciding how federal funds were spent.

    Republican Senate Majority Leader John Thune of South Dakota called Trump’s request a “small, but important step toward fiscal sanity.”

    Democrats scoffed at that, noting that congressional Republicans earlier this month passed a massive package of tax and spending cuts that nonpartisan analysts estimated would add more than $3 trillion to the nation’s $36.2 trillion debt.

    Democrats charged Republicans with giving up Congress’ Constitutionally-mandated control of federal spending.

    “Today, Senate Republicans turn this chamber into a subservient rubber stamp for the executive, at the behest of Donald Trump,” Senate Democratic Leader Chuck Schumer of New York said.

    “Republicans embrace the credo of cut, cut, cut now, and ask questions later,” Schumer said.

    The cuts would overturn bipartisan spending agreements most recently passed in a full-year stopgap funding bill in March. Democrats warn a partisan cut now could make it more difficult to negotiate government funding bills that must pass with bipartisan agreement by September 30 to avoid a shutdown.

    Appropriations bills require 60 votes to move ahead in the Senate, but the rescissions package needs just 51, meaning Republicans can pass it without Democratic support.

    -REUTERS

  • MIL-OSI: Valour Enters Swiss Market with HBAR and ICP Staking ETP Listings on SIX Swiss Exchange

    Source: GlobeNewswire (MIL-OSI)

    • Valour Launches First Products on SIX Swiss Exchange: Valour has officially entered the Swiss market with the listing of two staking ETPs—1Valour Hedera (HBAR) and 1Valour Internet Computer (ICP)—on the SIX Swiss Exchange.
    • Access to Native Yield Through Regulated ETPs: Both products offer secure, transparent, and regulated exposure to HBAR and ICP, while integrating native staking rewards directly into their structure.
    • Accelerating Toward 100 ETPs in Europe: With this launch, Valour now offers over 75 ETPs across Europe and continues to expand its footprint in line with its goal of reaching 100 ETPs by the end of 2025.

    TORONTO, July 17, 2025 (GLOBE NEWSWIRE) — DeFi Technologies (the “Company” or “DeFi Technologies”) (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance (“DeFi”), is pleased to announce that its subsidiary, Valour Inc., and Valour Digital Securities Limited (together, “Valour“), a leading issuer of exchange traded products (“ETPs“) has successfully listed two digital asset ETPs on the SIX Swiss Exchange—marking its inaugural product launch in Switzerland.

    The newly listed products are:

    • 1Valour Hedera (HBAR) Physical Staking (ISIN: GB00BRC6JM96)
    • 1Valour Internet Computer (ICP) Physical Staking (ISIN: GB00BS2BDN04)

    These cross-listed ETPs are already trading on other major European exchanges and will now be accessible to Swiss investors through their existing brokerage accounts. With competitive management fees and integrated staking rewards, both products provide secure, transparent, and regulated access to digital assets while enabling investors to benefit from native protocol yields.

    About the Listed Products

    1Valour Hedera (HBAR) Physical Staking
    HBAR is the native token of the Hedera network, a high-throughput, proof-of-stake public ledger designed for enterprise-grade applications. This ETP offers investors exposure to HBAR while capturing staking rewards—distributed directly to the product and reflected in its net asset value—without requiring users to manage wallets or custodianship themselves.

    1Valour Internet Computer (ICP) Physical Staking ICP powers the Internet Computer, a decentralized network that enables secure, scalable smart contract execution and web-speed blockchain functionality. This ETP provides passive exposure to ICP while generating staking yield, enabling investors to participate in the network’s native economics via a traditional financial instrument.

    Executive Commentary

    Johanna Belitz, Head of Nordics and DACH at Valour, commented:
    “Launching on SIX is a major milestone in our mission to democratize access to digital assets. Switzerland is one of the most forward-looking markets for regulated crypto products, and we’re proud to offer investors here access to yield-bearing protocols like HBAR and ICP in a simple and compliant format.”

    Elaine Buehler, Head of Products at Valour, added:
    “Our debut on the SIX Swiss Exchange reflects growing institutional and retail appetite for digital asset products that generate yield. These ETPs not only give investors exposure to two high-quality blockchain ecosystems—they do so through structures designed for security, simplicity, and accessibility.”

    With the addition of these products on SIX, Valour continues to expand its footprint across Europe, now offering over 75 ETPs on exchanges including Spotlight (Sweden), Börse Frankfurt (Germany), Euronext (Paris and Amsterdam), and now SIX (Switzerland). The Company remains on track to reach its goal of 100 ETPs by year-end 2025.

    About DeFi Technologies
    DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance (“DeFi”). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to over sixty-five of the world’s most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the company’s internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit https://defi.tech/  

    DeFi Technologies Subsidiaries

    About Valour
    Valour Inc. and Valour Digital Securities Limited (together, “Valour”) issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit valour.com.

    About Reflexivity Research
    Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit https://www.reflexivityresearch.com/

    About Stillman Digital
    Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit https://www.stillmandigital.com

    About Neuronomics AG
    Neuronomics AG is a Swiss asset management firm specializing in AI-powered quantitative trading strategies. By integrating artificial intelligence, computational neuroscience and quantitative finance, Neuronomics delivers cutting-edge solutions that drive superior risk-adjusted performance in financial markets. For more information please visit https://www.neuronomics.com/

    Cautionary note regarding forward-looking information:
    This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the the listing of 1Valour Hedera (HBAR) Physical Staking ETP, 1Valour Internet Computer (ICP) Physical Staking ETP; the development of the Internet Computer protocol, Hedera blockchain; development of additional ETPs and the number of ETPs anticipated by end of 2025; investor confidence in Valour’s ETPs; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour ETPs by exchanges; growth and development of decentralised finance and cryptocurrency sector; rules and regulations with respect to decentralised finance and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

    For further information, please contact:

    Olivier Roussy Newton
    Chief Executive Officer
    ir@defi.tech
    (323) 537-7681

    The MIL Network –

  • MIL-OSI China: Nvidia CEO depicts China’s supply chain as ‘miracle’

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

    Nvidia CEO Jensen Huang on Thursday hailed China’s supply chain as a “miracle”, highlighting China’s deep capabilities in artificial intelligence (AI) and computer science.

    “The supply chain of China is a miracle. It is the largest and most complex in the world, not just about labor, but built on deep technology, AI and software,” Huang told reporters at the ongoing China International Supply Chain Expo in Beijing.

    Huang, a frequent visitor to China this year, stressed Chinese firms’ critical role in the global tech ecosystem. “China is one of the few regions in the world with deep expertise in computer science,” he said. “The architecture and algorithms used to serve such a large population are incredibly sophisticated.”

    Huang’s remarks come amid at a time of growing U.S.-China tech tensions. Despite regulatory pressure and geopolitical tensions, Huang stressed the importance of continued collaboration and connection.

    “We rely on the global supply chain to build very complicated products,” he said, noting that Nvidia contributes software and hardware that power systems worldwide.

    During the interview, Huang remained focused on the message: “Supply chain is connection. It takes many suppliers and providers around the world connected together in a supply chain.”

    Last week, the chipmaker became the first company ever to touch 4 trillion U.S. dollars in market value.

    Asked about the future of AI, Huang viewed it as the next major technological revolution, though still in its early stages. “The last 10 to 12 years were about preparing for today. Now, AI can reason, think and understand information. It’s incredible,” he said.

    He also addressed the mounting concerns around AI safety. “We have to continue to advance the technology safely,” Huang said, citing cybersecurity and environment monitoring as key areas to ensure responsible development.

    In response to a question about China’s role in AI development, Huang pointed to the country’s large pool of researchers and deep interest in science and mathematics.

    “China has great researchers perfectly prepared for this moment,” he said. 

    MIL OSI China News –

  • MIL-OSI Russia: Chinese cartoon “Nezha 2” premiered in UAE

    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

    DUBAI, July 17 (Xinhua) — Chinese animated film “Nezha 2” premiered in the United Arab Emirates (UAE) on Tuesday evening. About a hundred spectators, including local cultural figures, bloggers and movie buffs, gathered at the Cinemacity cinema in Dubai Mall.

    The 2.5-hour cartoon, shown in Chinese with Arabic and English subtitles, captivated viewers with its rich animation and dynamic plot.

    “The film really touched me,” said Dubai student Mohammad. “It’s not just animation – it’s a film about family, responsibility and growing up. Nezha may be a mythological figure, but his internal struggles and choices felt very real to me,” he added.

    Nezha 2 hits major UAE cinemas from Thursday. –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 USA: Senator Marshall: Our National Debt is the Biggest Problem Our Country Faces

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall

    Senator Marshall Joins CNN to Talk About The Rescissions Package
    Washington – On Wednesday, U.S. Senator Roger Marshall, M.D. (R-Kansas), joined Jake Tapper on CNN’s The Lead with Jake Tapper to discuss the rescissions package and how out-of-control Congressional spending is the biggest issue facing America.

    Click HERE or on the image above to watch Senator Marshall’s full interview.
    On whether the Senate should take orders from the White House on spending:
    “I think the biggest problem that this country faces is our $37 trillion national debt, that we’re spending a trillion dollars a year on interest. If you think about where these cuts are coming from, USAID, our own Government Accounting Office, our own Inspector General have said that USAID is the systemic risk. That there’s significant fraud, waste, and abuse going on. That they don’t really have an audit system.
    “So we have identified with Congressional review significant waste and fraud. Think about  USAID. Just recently, a $500 million fraud scheme of bribes [uncovered] here in this country, overseeing those programs. In New Guinea $100 million embezzlement issue, or $50 million of waste on medical equipment in Zambia. So the fraud, the waste, the abuse, is out there. We need to do something. And this is some, I would say, low-hanging fruit. I wish we had a bigger rescission package.”
    On the Congressional spending problems facing the country:
    “Well, certainly Congress has a spending problem, and we need to address that. But I think that we want to be frugal with our money. I was taught to be frugal, to be concerned with other people’s money, which is what this is, and to take the very best care of it that I can.
    “I don’t care how much debt we’re in or even if we had a surplus, I don’t want to see waste and fraud like we’ve been seeing through USAID. I do think that both parties need to do a better job of working towards a balanced budget. Again, our national debt is the biggest problem our country faces long term.”

    MIL OSI USA News –

  • MIL-OSI: Time to Mine Ripple’s XRP, PFMCrypto Announces XRP Cloud Mining Support, Opening New Earning Opportunities

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 17, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem accelerates globally, PFMCrypto proudly launches an innovative leap in decentralized finance: XRP-based smart cloud mining contracts. Now available via web and mobile platforms, these flexible short-term contracts enable users to mine XRP remotely—no equipment, no setup, no technical expertise required. For the first time, everyday users can actively participate in the XRP economy through a seamless, fully integrated platform.

    Visit the PFMCrypto website or download the mobile app to get started today.

    Simple, Smart, and Profitable—XRP Cloud Mining Has Arrived
    Long known for its speed and efficiency in cross-border payments, XRP now steps into the mining arena through PFMCrypto’s latest cloud-based innovation. Users can mine XRP directly, or let the platform’s AI engine optimize returns by switching to the most profitable assets, including BTC, ETH, DOGE, and USDC. Earnings are paid out daily in the crypto of your choice, offering stable returns no matter the market condition.
    Designed for both novice users and experienced investors, PFMCrypto empowers you to generate consistent crypto income from anywhere, at any time.

    Key Features of PFMCrypto’s XRP Cloud Mining Contracts:
    1. Complete XRP Integration – Deposit, buy, mine, and withdraw XRP—all within one ecosystem.
    2. Multi-Coin Mining Support – Mine and earn BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
    3. AI-Optimized Profitability – Smart algorithms automatically shift mining resources to top-performing assets.
    4. Fully Remote Mining – No need for mining rigs—accessible anytime via app or browser.
    5. Capital Protection – 100% principal return upon contract maturity helps safeguard your investment.

    Flexible Contracts for Every Budget and Strategy:
    PFMCrypto offers a wide selection of XRP-supported mining contracts, ideal for both short-term testers and long-term planners. Each contract features predictable earnings, clear terms, and built-in capital protection:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
    $5,000 Contract – 30 Days – Earn $78.50 daily
    $20,000 Contract – 45 Days – Earn $380.00 daily
    Whether you’re just starting out or building a diversified portfolio, PFMCrypto offers low-risk, high-transparency contracts designed to deliver reliable daily earnings in XRP.

    Click here to explore more mining contracts.

    What Makes PFMCrypto’s XRP Mining Unique?
    1. Truly Accessible – No mining rigs, no technical barriers—just sign up and start earning.
    2. XRP-Native Functionality – Manage your entire XRP experience in one unified platform.
    3. Stable Returns with Smart Allocation – The AI engine ensures optimal returns across supported crypto assets.
    4. Multi-Asset Flexibility – Mine XRP or diversify payouts into BTC, ETH, and others—all from a single contract.
    5. Instant Access, Anywhere – Securely mine from your phone or browser, wherever you are in the world.

    Start in 3 Simple Steps:
    1. Sign Up – Create your account and get a $10 welcome bonus
    2. Choose a Contract – Pick from short or long-term options (1 to 60 days)
    3. Start Earning – Monitor your daily returns and withdraw in your preferred crypto

    Start mining XRP now at: https://pfmcrypto.net 
    Or download the PFMCrypto mobile app for iOS and Android.

    Mining XRP for a Smarter Digital Future:
    Since 2018, PFMCrypto has helped millions of users generate passive crypto income through advanced, cloud-based mining systems. With the addition of XRP mining, the platform now combines institutional-grade infrastructure with user-friendly design, opening up new opportunities for retail investors to earn in XRP or diversify into major digital assets—all through one secure, remote solution.
    “XRP has always been fast, scalable, and efficient,” said a PFMCrypto spokesperson. “Now, it’s mineable—safely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in XRP’s future.”
    Markets fluctuate—but daily mining income stays consistent.

    Join the XRP mining revolution today at: https://pfmcrypto.net

    The MIL Network –

  • MIL-OSI: Time to Mine Ripple’s XRP, PFMCrypto Announces XRP Cloud Mining Support, Opening New Earning Opportunities

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 17, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem accelerates globally, PFMCrypto proudly launches an innovative leap in decentralized finance: XRP-based smart cloud mining contracts. Now available via web and mobile platforms, these flexible short-term contracts enable users to mine XRP remotely—no equipment, no setup, no technical expertise required. For the first time, everyday users can actively participate in the XRP economy through a seamless, fully integrated platform.

    Visit the PFMCrypto website or download the mobile app to get started today.

    Simple, Smart, and Profitable—XRP Cloud Mining Has Arrived
    Long known for its speed and efficiency in cross-border payments, XRP now steps into the mining arena through PFMCrypto’s latest cloud-based innovation. Users can mine XRP directly, or let the platform’s AI engine optimize returns by switching to the most profitable assets, including BTC, ETH, DOGE, and USDC. Earnings are paid out daily in the crypto of your choice, offering stable returns no matter the market condition.
    Designed for both novice users and experienced investors, PFMCrypto empowers you to generate consistent crypto income from anywhere, at any time.

    Key Features of PFMCrypto’s XRP Cloud Mining Contracts:
    1. Complete XRP Integration – Deposit, buy, mine, and withdraw XRP—all within one ecosystem.
    2. Multi-Coin Mining Support – Mine and earn BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
    3. AI-Optimized Profitability – Smart algorithms automatically shift mining resources to top-performing assets.
    4. Fully Remote Mining – No need for mining rigs—accessible anytime via app or browser.
    5. Capital Protection – 100% principal return upon contract maturity helps safeguard your investment.

    Flexible Contracts for Every Budget and Strategy:
    PFMCrypto offers a wide selection of XRP-supported mining contracts, ideal for both short-term testers and long-term planners. Each contract features predictable earnings, clear terms, and built-in capital protection:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
    $5,000 Contract – 30 Days – Earn $78.50 daily
    $20,000 Contract – 45 Days – Earn $380.00 daily
    Whether you’re just starting out or building a diversified portfolio, PFMCrypto offers low-risk, high-transparency contracts designed to deliver reliable daily earnings in XRP.

    Click here to explore more mining contracts.

    What Makes PFMCrypto’s XRP Mining Unique?
    1. Truly Accessible – No mining rigs, no technical barriers—just sign up and start earning.
    2. XRP-Native Functionality – Manage your entire XRP experience in one unified platform.
    3. Stable Returns with Smart Allocation – The AI engine ensures optimal returns across supported crypto assets.
    4. Multi-Asset Flexibility – Mine XRP or diversify payouts into BTC, ETH, and others—all from a single contract.
    5. Instant Access, Anywhere – Securely mine from your phone or browser, wherever you are in the world.

    Start in 3 Simple Steps:
    1. Sign Up – Create your account and get a $10 welcome bonus
    2. Choose a Contract – Pick from short or long-term options (1 to 60 days)
    3. Start Earning – Monitor your daily returns and withdraw in your preferred crypto

    Start mining XRP now at: https://pfmcrypto.net 
    Or download the PFMCrypto mobile app for iOS and Android.

    Mining XRP for a Smarter Digital Future:
    Since 2018, PFMCrypto has helped millions of users generate passive crypto income through advanced, cloud-based mining systems. With the addition of XRP mining, the platform now combines institutional-grade infrastructure with user-friendly design, opening up new opportunities for retail investors to earn in XRP or diversify into major digital assets—all through one secure, remote solution.
    “XRP has always been fast, scalable, and efficient,” said a PFMCrypto spokesperson. “Now, it’s mineable—safely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in XRP’s future.”
    Markets fluctuate—but daily mining income stays consistent.

    Join the XRP mining revolution today at: https://pfmcrypto.net

    The MIL Network –

  • MIL-OSI USA: REMARKS: Senator Coons condemns deep cuts to humanitarian and disaster aid in moving speech on Senate floor

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons
    WASHINGTON – U.S. Senator Chris Coons (D-Del.) delivered a floor speech today condemning proposed Republican-led efforts to axe humanitarian and disaster relief funding, and eliminate publicly broadcast emergency alerts for rural communities in the latest budget rescission package. The cuts, totaling approximately $9 billion, or roughly 0.1% of the federal budget, target critical aid programs including the World Food Program, UNICEF, Catholic Relief Services, Save the Children, and disaster response efforts around the globe. During his speech, Senator Coons said the cuts not only undermine America’s values, but they also betray the moral teachings at the heart of our faith traditions.
    “Jesus wept,” Senator Coons began, referencing the Gospel of John. Senator Coons warned that the proposed $9 billion in rescissions, which include drastic reductions to food assistance, refugee aid, and disaster response, would cause similar needless suffering to our most vulnerable. “For God’s justice is swift and sure, and I tremble when I think about the answer this chamber will give today to the question, who is my neighbor? Ladies and gentlemen of the Senate, we should turn aside. We should not, with this act and this vote today, make Jesus weep.”
    Despite the focus of President Trump and his Republican allies in Congress on cutting foreign aid this year, the United States spends less than 1% of its annual budget on foreign assistance. The money feeds starving children, combats epidemics overseas before they reach American shores, helps us strengthen partnerships and alliances, and is critical in helping us outcompete China.
    “I was on a bipartisan trip to the Philippines just a few months ago with Senator Ricketts, and I was struck to learn that the Philippines of all the nations on Earth is the most prone to natural disasters,” Senator Coons continued. “They value our partnership, our alliance. We’ve been security partners for decades. There’s many Filipino-Americans. There’s a close and deep relationship. But in meeting with their national leaders, their elected leaders, their senators and their ministers of their cabinet, they said, you know, it makes an incredible difference here in the Philippines: every time there’s a typhoon, there’s an earthquake, there’s a volcano, it’s the Americans who come. It’s the Americans who deliver the aid, who help us help ourselves with training and equipment and support.”
    Shortly afterward, Senator Coons offered an amendment on the Senate floor to strip out $496 million of the cuts that target international disaster relief.
    A video and transcript of Senator Coons’ remarks are available below.
    WATCH HERE.
    Senator Coons: Jesus wept. Jesus wept. Most of us who grew up in bible-believing households know this is the shortest verse in all of Scripture, and in some ways the most powerful – one that haunts me. Jesus wept in John, the 11th chapter, 35th verse, because he had come too late, seemingly, to save the life of Lazarus. He wept because someone he knew and loved had died, and it had caused such harm and loss to his family. Today we are doing something on this floor of this Senate – my Republican colleagues are doing something on the floor of this Senate – that I believe would make Jesus weep.
    In Luke, there’s a moment in the 10th chapter where a lawyer – and it’s always a lawyer – comes to test Jesus, and trying to justify himself, presses Jesus with questions: “What must I do to gain eternal life?” And Jesus says, “what does the Scripture teach?” He says, “You should love the Lord your God with all your heart, all your soul, and all your mind. And the second commandment is like unto it, you should love your neighbor as yourself.” Jesus says, “you have read well. Do this and you will gain eternal life.” But the lawyer, hoping to be justified says – “but, but, but wait. Who is my neighbor?” And what follows is the well-known parable of the good Samaritan where the righteous, the priestly, the respected, the powerful walk on the other side of the road when they encounter someone who’s been set upon by robbers. Not my problem, not my neighbor. But in the parable of the good Samaritan, it’s this person – a Samaritan from a disfavored ethnicity, someone outside the circle of concern to the ancient Israelites – who does the right thing.
    This parable would have been shocking at the time that it was preached by Jesus. The idea that the “good neighbor” was the outcast – the unexpected – would be something that frankly would have been a surprise. So although today being a ‘good Samaritan’ is a common term, it’s important to know the history. We are taught as children that we are to see all as our neighbors, not just those who live next door, not just those who look like us or speak like us or pray like us, but the widest possible definition of neighbor is what we are called through righteousness to see in the world.
    And what a difference it has made. Because our nation has for decades embraced the cause of being present, of caring, of making lifesaving differences to young mothers and children, to widows and orphans, to the imprisoned, to the hungry, to the refugee, to those fleeing oppression, to those seeking relief from authoritarian governments, for those seeking a better way. We are all God’s children, and from childhood we are taught that the Golden Rule, which appears in virtually every religion – do unto others as you would have them unto to you – is the very foundation of the goodness of America, that we care for each other as neighbors, and we care for the world as neighbors. Yes, we are the most charitable, giving, philanthropic, engaged nation on Earth. And yet all that we do in foreign aid is less than 1% of our total federal budget.
    Months ago, when Elon Musk and DOGE began roaming about the federal agencies of our government, their first target was that that delivers disaster relief, that helps feed the hungry, that helps welcome the refugee, that helps stabilize countries going through turmoil. They laid off thousands. They shut down programs. They canceled billions [of dollars]. And yet, here today we are at it again. Republicans are proposing even deeper cuts.
    I want to talk about one area of the many that will be cut, I fear, later today: disaster assistance. Our nation has been riveted as we’ve watched the tragedy that unfolded in the Texas Hill Country, where a raging river killed dozens and dozens of innocent children. And you know, around the world, when disaster strikes, it is the Americans who show up first. It is Americans who show up with relief, with assistance, with skill and talent and ability.
    It’s been this way for decades and it should be this way still. I was on a bipartisan trip to the Philippines just a few months ago with Senator Ricketts, and I was struck to learn that the Philippines, of all the nations on Earth, is the most prone to natural disasters. They value our partnership, our alliance. We’ve been security partners for decades. There’s many Filipino-Americans. There’s a close and deep relationship. But in meeting with their national leaders, their elected leaders, their senators and their ministers of their cabinet, they said, you know, it makes an incredible difference here in the Philippines: every time there’s a typhoon, there’s an earthquake, there’s a volcano, it’s the Americans who come. It’s the Americans who deliver the aid, who help us help ourselves with training and equipment and support. And you know, in the excess of DOGE’s deep cuts, they fired and laid off most of our experts who are capable of delivering world-class disaster relief.
    We saw the consequences with an earthquake in Myanmar just three months ago, where the few remaining folks who did this work were laid off as they were deployed. And instead, the response was led by the Chinese. We are driving nations into the open arms of our adversaries. We have long been known as a nation that sought to be respected, admired, believed in, embraced, not for the example of our power, but by the power of our example. That when there were dread pandemics killing millions, America showed up. 
    One of the positives of this day is that my Republican colleagues have recoiled from fully shutting down PEPFAR, and that is a positive. One of the best things we’ve ever done as a nation is to save 27 million lives across the world that otherwise would have been lost to HIV and AIDS. But I’ll tell you, when Ebola raged across Africa in 2014, I was the one member of Congress who went to Liberia at the request of the president – a Nobel Peace Prize winner, a brave and proud leader of a nation struggling facing massive losses of life. Projections at the early stages of the Ebola pandemic were that a fifth to a quarter of their population would die in a matter of weeks. And who came to help? The Americans. Catholic Relief Services, Save the Children, CARE, the U.S. military, our public health service. 
    I’ll never forget meeting a young Liberian named Alvin. He dropped out of college to become a physician’s assistant to help when the outbreak began and he in caring for patients himself contracted Ebola – a near certain death sentence. Yet, Alvin was evacuated by Americans to the Ebola treatment center set up and funded and equipped by Americans. And his life was saved by Americans. Whether it was the president of the nation, Ellen Johnson Sirleaf, or Alvin, the folks I met on that trip to Liberia thanked and praised the American people for our decency, our kindness, our seeing them as our neighbor in their moment of deepest struggle, risk, and loss. And yet today – yet today – my colleagues would rather trim one-tenth of 1% of the budget, $9 billion, to cut deeper into food aid and disaster assistance and fighting pandemics, all to justify a tax cut.
    I can think of few more despicable acts on this floor in my 15 years. I can speak to process. We have a bipartisan appropriations process where we can and should debate and consider these further cuts, and put them on the floor, and vote them up. But this is an odd thing. It’s a rescission. It is a cutting back further of money we’ve already appropriated. Just a few minutes later today, I will be trying to get votes to end $465 million of further cuts in disaster assistance that’ll be on the floor today. Taking money from the World Food Program and UNICEF, from Red Cross and Save the Children, from Catholic Relief Services and World Vision. Folks may think at home that this money that goes out to the world is money better spent here, but for the pennies on the federal dollar that we spend responding to disasters around the world, organizations we all know and the majority of us believe in and support, like the Red Cross, World Vision, or Catholic Relief Services are able to appear in time and deliver lifesaving aid. 
    Think about what we are doing. Think about the example we are setting. Think about what we are teaching our children. Open your hearts and eyes and realize what we are about to do. This is a nation of which I am so proud, and yet at times it does things of which I am so ashamed. I cannot imagine the faces in the refugee camps, in the villages, in the clinics, in the schools, in the towns, in the cities around the world, who for years have been used to the idea that when there’s a pandemic, the Americans come; that when there’s an earthquake, the Americans come; that when there is starvation, the Americans come. Today we will vote, “no, we won’t.” We are more interested in ourselves and in a bigger tax cut than we are in saving starving children, people laid low by the devastation of an earthquake, families separated by a typhoon. The best part of this nation – what truly makes us great – is our selfless giving to others. We will be judged by how we act today. For God’s justice is swift and sure, and I tremble when I think about the answer this chamber will give today to the question, who is my neighbor?
    Ladies and gentlemen of the Senate, we should turn aside. We should not, with this act and this vote today, make Jesus weep.

    MIL OSI USA News –

  • UIDAI steps up efforts to deactivate Aadhaar numbers of deceased individuals, launches new reporting portal

    Source: Government of India

    Source: Government of India (4)

    In a move to curb identity fraud and unauthorised use of Aadhaar numbers, the Unique Identification Authority of India (UIDAI) has initiated a multi-pronged strategy to deactivate Aadhaar numbers of deceased individuals, the Ministry of Electronics & IT said on Wednesday. The effort aims to maintain the accuracy and integrity of the Aadhaar database, which serves as a crucial digital identity platform for residents of India and NRIs.

    Aadhaar, the 12-digit unique identity number issued by UIDAI, is never reassigned once generated. However, if not deactivated after a person’s death, these numbers could be misused. To address this concern, UIDAI has partnered with multiple stakeholders, including state governments, the Registrar General of India (RGI), banks, and other ecosystem partners, to ensure timely and validated deactivation of such Aadhaar numbers.

    As part of its ongoing efforts, UIDAI requested the RGI to share Aadhaar-linked death records through the Civil Registration System (CRS). So far, the RGI has shared approximately 1.55 crore death records from 24 States and Union Territories. After due validation, UIDAI has successfully deactivated about 1.17 crore Aadhaar numbers. For States and UTs not using the CRS, UIDAI has received an additional 6.7 lakh death records, and deactivation is currently in progress.

    Taking a further step toward empowering citizens, UIDAI launched a dedicated service – “Reporting of Death of a Family Member” – on the myAadhaar Portal on June 9, 2025. This digital service currently covers 24 CRS-enabled States/UTs and allows a family member to report the death by submitting the deceased’s Aadhaar number, Death Registration Number, and other demographic details after self-authentication. The submitted data undergoes a thorough validation process before the Aadhaar number is deactivated. Efforts are underway to extend this service to the remaining States and UTs.

    UIDAI is also considering acquiring death records from banks and other Aadhaar ecosystem partners that may maintain such data, adding another layer of information verification.

    In another unique initiative, UIDAI has launched a pilot program with state governments to verify the status of Aadhaar holders aged over 100 years. The demographic details of these individuals are being shared with state authorities to confirm whether they are alive. Based on the feedback, UIDAI will proceed with appropriate validations and deactivate the Aadhaar numbers where necessary.

    UIDAI has urged citizens to report the death of any family member on the myAadhaar Portal after obtaining a valid death certificate from the registering authorities. This, the Authority states, is crucial to prevent misuse of the deceased’s Aadhaar number and to ensure the overall sanctity of the national identity database.

  • MIL-OSI: Lightchain AI Confirms Late July 2025 Mainnet Launch to Advance AI-Powered Blockchain Infrastructure

    Source: GlobeNewswire (MIL-OSI)

    SHREWSBURY, United Kingdom, July 16, 2025 (GLOBE NEWSWIRE) — Lightchain AI has officially announced that its mainnet will go live in late July 2025. This upcoming launch introduces a next-generation decentralized platform purpose-built to execute artificial intelligence tasks across a scalable, transparent, and community-driven blockchain network.

    Lightchain AI’s infrastructure is centered around two key components: the Artificial Intelligence Virtual Machine (AIVM) and the Proof of Intelligence (PoI) consensus mechanism. Together, these features allow participating nodes to process AI model training and inference tasks in real time, rewarding them with native tokens based on verifiable contributions.

    By repurposing blockchain energy use toward useful, privacy-preserving computations, the protocol sets a new precedent for how decentralized networks can support intelligent applications while maintaining sustainability and performance.

    “We’re proud to confirm the late July mainnet launch of Lightchain AI,” said a project spokesperson. “This marks a major milestone toward building a decentralized framework where AI execution is both efficient and secure, and where developers can bring meaningful use cases to life.”

    Key components of the Lightchain AI ecosystem include:

    • Proof of Intelligence (PoI): A new consensus model that verifies and rewards AI-based computations
    • Artificial Intelligence Virtual Machine (AIVM): Executes decentralized AI tasks using federated learning and zero-knowledge proofs
    • Gas Optimization: Dynamically adjusts fees based on task complexity and network activity
    • Developer Resources: APIs, SDKs, and a public GitHub repository (to be released post-launch)
    • Scalability Solutions: Native support for sharding and Layer 2 integrations
    • Incentive Program: $150,000 grant fund to support development of oracles, data tools, and dApps

    Lightchain AI completed 15 presale stages and raised $21.1 million in early participation. A Bonus Round remains active at a fixed price of $0.007, available through the official platform using ETH or USDT.

    Following the mainnet launch, the team will begin onboarding validators and contributors, while continuing to expand technical documentation and community governance resources. The roadmap also includes support for cross-chain integrations, additional performance enhancements, and ecosystem partnerships aimed at increasing adoption across AI and Web3 communities.

    The upcoming launch invites developers, researchers, and early adopters to participate in shaping the future of decentralized AI and explore new applications powered by transparent infrastructure.

    For more details and to join the Bonus Round:

    For more information and ongoing updates, visit:
    https://lightchain.ai
    Whitepaper
    Twitter/X
    Telegram

    Contact:
    SHAJAN SKARIA
    media@lightchain.ai

    Disclaimer: This content is provided by Lightchain AI. 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/e84d2723-061e-4f7c-9253-2ef3537ee495

    The MIL Network –

  • MIL-OSI Australia: Straight from the source – July 2025

    Source: New places to play in Gungahlin

    July marks the beginning of a new financial year – a time for all taxpayers including not-for-profits (NFP) to reset, review, and refocus. It’s also tax time, and with that comes the opportunity to strengthen financial foundations, plan for the year ahead, and ensure your NFP is on track to deliver impact.

    The start of July is also a time of deep cultural significance as we celebrate NAIDOC Week. This year marks 50 years of honouring Aboriginal and Torres Strait Islander peoples, and the theme ‘The Next Generation: Strength, Vision & Legacy’ invites us to reflect on the past, empower the present, and invest in the future. It’s a call to honour the legacy of Elders, uplift young Indigenous leaders, and commit to building a future grounded in respect and inclusion.

    At the opening of NAIDOC Week, I was visiting Rainbow Beach in Cooloola, Queensland, where I respectfully acknowledged the traditional lands of the Butchulla and Kabi Kabi peoples. Wherever I travel across Australia, I make it a point to acknowledge the Traditional Owners and learn about Indigenous history – especially the stories that have been passed down through generations. It’s part of my personal commitment to reconciliation.

    On this trip, I discovered that in December 2019, the Federal Court formally recognised the Butchulla people’s native title rights over land and waters between Rainbow Beach and Burrum Heads. This followed their first determination in 2014, which acknowledged their rights over K’gari (Fraser Island). I also came across the beautiful legend behind Rainbow Beach’s name. According to the Kabi Kabi people, the rainbow-coloured dunes – now heritage-listed – were formed when Yiningie, a spirit represented by a rainbow, plunged into the cliffs after battling an evil tribesman who was pursuing the maiden Murrawar. These stories are powerful reminders of the deep spiritual connection between land and culture.

    As we continue to celebrate NAIDOC Week and every day after, let’s continue to listen, learn, and honour the legacy of Aboriginal and Torres Strait Islander peoples – past, present, and future.

    For not-for-profits, this is a timely reminder to:

    • Recognise the legacy of First Nations Elders and leaders who have paved the way.
    • Support the strength and vision of young Indigenous changemakers.
    • Review your organisation’s role in fostering culturally safe and inclusive spaces.
    • Build partnerships with First Nations organisations that uplift community voices.

    Here are some additional important messages I’d like to share with all NFPs.

    Tax Time 2025: lodge your NFP self-review return today!

    Tax Time 2025 kicked off on 1 July, and the second NFP self-review return is now open for lodgment, and due by 31 October 2025.

    We understand that many NFPs haven’t yet lodged their first return – often due to the time needed to set up access to Online services for business. But don’t wait! You can lodge your return now while completing your digital setup.

    Lodge using our self-help phone service by calling 13 72 26 – have your organisation’s ABN and the reference number from your ATO letter ready when you call.

    If your NFP doesn’t have a letter from us with a reference number, phone us on 13 28 66 to ask us to resend a letter. When you phone us, you’ll have to prove you are authorised to contact us on behalf of your NFP.

    The ATO will support NFPs trying to do the right thing and has suspended penalty application for late lodgment of the 2023–24 NFP self-review return as part of the transitional support arrangements for the sector. 

    However, penalties may apply if you don’t lodge your 2024–25 NFP self-review return by the due date.

    Shaping a strategic roadmap for the NFP sector

    At our upcoming NFP Stewardship Group session, we’ll focus on developing a strategic roadmap to guide tax, superannuation, and registry administration through to 2030 and beyond. This initiative reflects our commitment to building a system that is streamlined, fit for purpose, and aligned with the government’s goal of doubling philanthropy by 2030.

    So far, we’ve engaged a diverse range of stakeholders through targeted interviews to gather insights on common challenges, barriers, and opportunities. Their contributions are helping us shape a roadmap that supports NFPs in meeting their obligations with confidence, while enhancing public trust in the sector.

    The response from the sector has been overwhelmingly positive, with many expressing interest in joining the Stewardship Group and contributing to this important work. These sessions mark the beginning of a collaborative journey, with many opportunities ahead for stakeholders to contribute, test, and validate ideas before any commitments are made.

    Once finalised, the roadmap will outline a coordinated set of projects and activities designed to ensure the sector is well-positioned for long-term sustainability and compliance. We look forward to continuing this work with the broader stakeholder community in the months ahead.

    We continue to receive Deductible Gift Recipient (DGR) applications from NFP organisations that do not meet the open membership requirements under the community sheds category.

    Community sheds are charities whose dominant purpose is to advance mental health and prevent or relieve social isolation. A community shed must be open to the community to join and generally not impose criteria restricting membership based on matters such as age, ethnicity or background. Rejecting an application for arbitrary reasons will not constitute open membership.

    Membership may only be restricted in relation to gender or Indigenous heritage or both.

    To meet the open membership requirement, community sheds must:

    • have a clear policy and process for nominating and approving all new members without exception
    • ensure this process is reflected in their governing rules
    • avoid clauses that allow committee members to reject applicants for unspecified or arbitrary reasons.

    We encourage all applicants to review their governing documents carefully and ensure they align with the ATO’s requirements before submitting a DGR application.

    If you have questions or need support, our advice service on 1300 130 248 is here to help between 8:00 am to 6:00 pm AEST, Monday to Friday.

    Community charities that are already listed in a Ministerial Declaration and have registered as a charity with the Australian Charities and Not-for-profits Commission (ACNC), can now contact us for guidance on how to apply for DGR endorsement. The best way is to call our dedicated NFP Advice Service on 1300 130 248 between 8:00 am and 6:00 pm, Monday to Friday. Alternatively, you can email atoendorsements@ato.gov.au

    Support through Australian disaster relief funds (ADRF)

    In times of disaster, Australians come together to support those in need. An Australian disaster relief fund (ADRF) is a public fund established exclusively to provide financial assistance to individuals and communities affected by officially declared disasters. This includes both immediate aid and long-term support for community recovery.

    You can also make a meaningful impact by donating to established DGRs operating in affected areas. These may include public benevolent institutions (PBIs) and other public assistance organisations that provide similar support in their day-to-day operations. By contributing to trusted organisations, your donation helps deliver timely and effective relief to those who need it most.

    The most recent updates to the list of declared disasters are:

    • Ex-Tropical Cyclone Alfred declared on 1 March 2025
    • Queensland Floods (March 2025) declared on 21 March 2025
    • New South Wales Floods (May 2025) declared on 18 May 2025.

    Details of the declared disasters are available on the Australian Taxation Office website on the list of disasters or by going to www.ato.gov.au and searching for QC 18912.

    Ancillary Funds

    In the lead-up to the end of the financial year, we received a noticeable increase in enquiries to our advice service from ancillary funds.

    A reminder to all private and public ancillary funds – each is governed by its own set of guidelines, which must be followed to ensure compliance.

    Website updates

    You may have noticed that our website content for DGR endorsement has been updated. While the content remains largely unchanged the information has been organised so that it can be accessed more easily, and you will notice that it has been arranged in five tiles that cover:

    1. DGR categories
    2. DGR reforms
    3. Applying for DGR endorsement
    4. Rules and tests for DGR endorsement
    5. Progress of your endorsement application.

    Similarly, all the NFP self-review return information has been reviewed and updated as of 8 July 2025.

    We’re reviewing and rewriting TD 93/190 to update legislative references and clarify the criteria NFP organisations must meet to qualify for an income tax exemption.

    The revised ruling will:

    • reflect current legislation, including all special conditions under Subdivision 50A of the Income Tax Assessment Act 1997
    • explain how ‘community service purposes’ should be interpreted
    • include relevant case law and practical examples of NFP entities that do and do not qualify for the exemption.

    Getting tax ready: your EOFY checklist

    As you can see, there’s a lot happening in July – and it’s never too late to get tax ready! Whether you’re finalising reports or planning ahead, here are some key reminders to help your NFP stay on track:

    • Review your financial records – make sure everything is accurate and up to date.
    • Finalise payroll and superannuation – ensure all obligations are met before deadlines.
    • Prepare your annual reporting – this includes ACNC submissions, any grant acquittals, Ancillary Fund Returns, NFP self-review returns and Income tax lodgments.
    • Acknowledge your donors – send out end-of-year receipts and thank-you messages.
    • Plan for the year ahead – reflect on your impact, set goals, and build a strong foundation.

    Tax time is also a great opportunity to highlight your achievements. Share your impact, thank your supporters, and show how their support and contributions have made a real difference.

    Let’s start the new financial year with clarity, confidence, and purpose.

    Take care and stay safe,

    Jennifer.

    MIL OSI News –