Source: International Monetary Fund
International Monetary Fund. Middle East and Central Asia Dept. “Somalia: Third Review Under the Extended Credit Facility and Request for a Modification of Quantitative Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Somalia”, IMF Staff Country Reports 2025, 191 (2025), accessed July 16, 2025, https://doi.org/10.5089/9798229014779.002
Source: United Kingdom – Executive Government & Departments
UK Export Finance visited Turkmenistan for the first time last month and met with key ministries and institutions.
Ms Clare Allbless, Deputy Head of Mission, British Embassy Ashgabat, Ms Sebnem Alp, UKEF Country Head for Türkiye, Eastern Europe and Central Asia, and Ms Irem Kayhan, Deputy Head for Türkiye, Turkmenistan & Mongolia, Mr Eldar Latypov, Project Officer, British Embassy Ashgabat.
The British Embassy in Ashgabat is pleased to announce the successful conclusion of the first-ever visit to Turkmenistan by senior representatives of UK Export Finance (UKEF), the UK Government’s export credit agency. From 23 to 27 June 2025, Ms Sebnem Alp, UKEF Country Head for Türkiye, Eastern Europe and Central Asia, and Ms Irem Kayhan, Deputy Head for Türkiye, Turkmenistan & Mongolia, held high-level meetings with key ministries and institutions across Turkmenistan.
Productive discussions with the Ministries.
The visit, graciously facilitated by the Ministry of Foreign Affairs of Turkmenistan, included productive discussions with the Ministry of Finance and Economy, Ministry of Energy, Central Bank, Vnesheconombank, and other strategic agencies. These engagements explored opportunities for UKEF to support major sovereign projects across infrastructure, fertiliser, transport, agriculture, water, and green transition sectors in Turkmenistan, potentially backed by UKEF guarantee support of up to £5 billion
Ms Clare Allbless, Deputy Head of Mission, British Embassy Ashgabat, Ms Sebnem Alp, UKEF Country Head for Türkiye, Eastern Europe and Central Asia, and Ms Irem Kayhan, Deputy Head for Türkiye, Turkmenistan & Mongolia, Mr Eldar Latypov, Project Officer, British Embassy Ashgabat.
This milestone visit marks a new chapter in UK – Turkmenistan relations and opens the door to deeper bilateral trade and investment cooperation. The British Embassy stands ready to support continued dialogue and collaboration between UKEF and the Government of Turkmenistan to deliver sustainable, high-quality development outcomes.
Source: Hong Kong Government special administrative region
Hong Kong Customs shut down two suspected illicit cigarette storage centres in Sham Shui Po today (July 16), seizing a total of about 1 million suspected illicit cigarettes with an estimated market value of about $4.5 million and a duty potential of about $3.3 million. One 45-year old non-local man was arrested.
Customs officers conducted an anti-illicit cigarette operation in Sham Shui Po this afternoon and spotted a suspicious man moving some carton boxes near an illicit cigarette black spot in Kweilin Street. Customs officers then intercepted the man and found about 70 000 suspected illicit cigarettes. After follow-up investigations, about 80 000 and about 850 000 illicit cigarettes were uncovered respectively from two units at a nearby rear lane.
After preliminary investigations, Customs believes that the two suspected illicit cigarette storage centres have been operating for about three months, supplying illicit cigarettes to the aforesaid black spot. An investigation is ongoing.
Hong Kong Customs has been mounting a territory-wide enforcement operation codenamed “Thunder” since last week to combat illicit cigarette telephone-ordering activities, including illicit cigarette storage centres, black spots and peddling. Customs will continue its risk assessment and intelligence analysis for interception at source as well as through its multipronged enforcement strategy targeting storage, distribution and peddling to spare no effort in combating illicit cigarette activities.
Customs stresses that it is an offence to buy or sell illicit cigarettes. Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.
Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Source: Hong Kong Government special administrative region
HKSAR reiterates Lai Chee-ying’s case and his custodial arrangements always handled in accordance with the law
A spokesman for the HKSAR Government pointed out that, “The HKSAR Government has emphasised time and again that as the legal proceedings involving Lai Chee-ying are still ongoing, it is inappropriate for any person to comment on the details of the case in an attempt to interfere with the court to exercise judicial power independently, which might otherwise constitute perverting the course of justice. However, foreign organisations primarily from the US and Western countries, including governments and the media, continue to distort the truth, blantantly discredit the judicial system and trials of the HKSAR, and make false and misleading statements by fabricating information about the treatment provided to Lai Chee-ying during his custody, in an attempt to glorify criminal behavior and exert pressure on the courts of the HKSAR. In fact, Lai Chee-ying’s actual legal representative has already made a clarification earlier that Lai Chee-ying has all along been receiving suitable treatment and care in prison. However, the organisations from the US and Western countries choose to turn a blind eye to these facts and evidence, and carry on with their malicious political maneuvers with ulterior motives. The HKSAR Government opposes such actions.”
The spokesman reiterated, “The Correctional Services Department (CSD) attaches great importance to the safety and health of persons-in-custody (PICs). Regardless of the identities, ages and nationalities of PICs, the CSD is committed to ensuring that the custodial environment is secure, safe, humane, appropriate and healthy, and that an environment with good ventilation, as well as appropriate and timely medical support will be provided. If inmates require further examination and treatment, they will be referred to specialist medical staff or to public hospitals for further follow-up. The CSD has also put in place an established mechanism, including regular independent visitors, namely Justices of the Peace, who inspect the prisons to ensure the rights of PICs are protected. The CSD also adopts the above arrangements when handling matters related to Lai Chee-ying, which are no different from those applicable to other PICs.
“In the interests of a particular prisoner or for the maintenance of good order and discipline, the Commissioner of Correctional Services is empowered to make arrangements under section 68B of the Prison Rules that such prisoner should not associate with other prisoners (i.e. the so-called ‘solitary confinement’). One of the purposes of the relevant arrangement is to ensure the personal safety and well-being of the PICs, which can be requested by the PICs themselves and approved by the Commissioner after considering the matter in accordance with the law; or the Commissioner may make such arrangements after considering the relevant factors in accordance with the legal requirements and procedures. We must once again point out the fact that the arrangement for Lai Chee-ying’s removal from association from other PICs has all along been made at his own request and approved by the CSD after considering all relevant factors in accordance with the law. The remarks by organisations from the US and other Western countries regarding Lai Chee-ying’s solitary confinement are completely fact-twisting, reflecting a malicious intention to smear and attack the HKSAR Government.”
The spokesman stressed, “All cases in the HKSAR (including Lai Chee-ying’s case) are handled strictly on the basis of evidence and in accordance with the law; the Department of Justice of the HKSAR, by virtue of Article 63 of the Basic Law, controls criminal prosecutions, free from any interference; all defendants will receive fair trial with applicable Hong Kong laws (including the Hong Kong National Security Law) and under the safeguards of the Basic Law and the Hong Kong Bill of Rights.”
Issued at HKT 21:00
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Source: GlobeNewswire (MIL-OSI)
SANTA CLARA, Calif., July 16, 2025 (GLOBE NEWSWIRE) — PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor and electronics ecosystems, today announces that it will host two important semiconductor industry events in 2025.
Connected Equipment Summit
On October 9th, 2025, PDF Solutions will host its inaugural Connected Equipment Summit in Chandler, Arizona. This premier industry event will showcase the Company’s latest innovations in equipment connectivity, secure remote access and monitoring, and the transformative applications of AI and digital twin technology in semiconductor equipment management.
Following PDF Solutions’ acquisition of secureWISE LLC earlier in 2025, the summit will unveil the details of the Company’s strategic vision to combine Cimetrix factory automation software solutions with secureWISE capabilities to deliver superior equipment operational efficiency and secure collaboration across the entire semiconductor ecosystem.
The event will feature insights from key stakeholders throughout the semiconductor value chain, including equipment makers, foundries, and fabless companies. These industry leaders will share their experiences and success stories implementing secureWISE solutions, demonstrating the tangible value of secure remote semiconductor equipment connectivity and control from multiple perspectives within the ecosystem.
Additional information including agenda, logistics and registration for the Connected Equipment Summit can be found using the following link:
https://go.pdf.com/l/814523/2025-06-04/c94lg
Users Conference
On December 3rd and 4th, 2025, PDF Solutions will host its Users Conference in Santa Clara, CA. This high-profile industry event will cover the breadth of the PDF Solutions platform products and feature expert insights, real-world case studies, and interactive discussions designed to address the most pressing challenges in modern semiconductor manufacturing. The conference will be held in conjunction with PDF Solutions’ Analyst Day on Wednesday, December 3rd.
For over 30 years, PDF Solutions has anticipated and supported the semiconductor industry’s transformation and needs by delivering innovative solutions. Today, the industry faces accelerating innovation—3D architectures, chiplets, and sophisticated hybrid packages—while navigating increasingly complex supply chains. Simultaneously, AI promises to revolutionize semiconductor design and manufacturing, creating unprecedented efficiency gains across all levels.
This dynamic landscape demands new levels of collaboration and integration among key semiconductor ecosystem players. A new type of industry platform is essential to unify these diverse stakeholders.
At this event, PDF Solutions will unveil its latest platform innovations, specifically engineered to:
This comprehensive event will explore cutting-edge developments in semiconductor manufacturing technology and digital transformation. Key topics will include:
Strategic Overview
Technology Leadership & Innovation
Supply Chain & Operations
Advanced Analytics & AI Solutions
Equipment Management & Control
Additional information including agenda, speakers, logistics and registration for the PDF Solutions 2025 Users Conference can be found using the following link:
https://events.pdf.com/
About PDF Solutions
PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystem to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor and electronics ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.
Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit https://www.pdf.com.
Headquartered in Santa Clara, California, PDF Solutions also operates worldwide in Canada, China, France, Germany, Italy, Japan, Korea, Sweden, and Taiwan. For the Company’s latest news and information, visit https://www.pdf.com
PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. and/or its subsidiaries in the United States and other countries.
Company Contacts
Christophe Begue
VP, Corporate Strategic Marketing
christophe.begue@pdf.com
Sonia Segovia
Investor Relations
(408) 938-6491
sonia.segovia@pdf.com
Source: GlobeNewswire (MIL-OSI)
LONDON and CHICAGO, July 16, 2025 (GLOBE NEWSWIRE) — Wilshire Indexes, a global leader in index design, and GCM Grosvenor (NASDAQ: GCMG), a leading global alternative asset management solutions provider, today announced the launch of the jointly developed FT Wilshire Private Markets Infrastructure Index (the “Index”). This first-of-its-kind benchmark fills a void for the asset class by providing investors with a transparent, reliable reference point based on the performance of a diversified universe of leading open-ended infrastructure funds. Until now, infrastructure investors lacked a comprehensive benchmark that truly reflected the breadth of the market. To address growing demand for passive exposure to this universe of assets, GCM Grosvenor is developing one or more investable vehicles designed to track the Index, with anticipated launches in the coming months.
The Index was created through close collaboration between Wilshire Indexes and GCM Grosvenor, leveraging the breadth, depth, and global scale of both organizations, with support of a select group of leading open-ended infrastructure funds. Wilshire Indexes will calculate and govern the benchmark, drawing on its four-decade heritage of transparent, rules-based index methodologies and next-generation data analytics technology. GCM Grosvenor, leveraging its $82 billion alternative investments platform, will contribute ongoing private market insights and risk management expertise as the Index evolves. In addition, GCM Grosvenor is advancing plans for a single point-of-entry investment vehicle, which it will manage, that will track the Index and offer investors streamlined access to diversified infrastructure exposure.
“This partnership brings together Wilshire Indexes’ index innovation with GCM Grosvenor’s deep private markets expertise to deliver a simple, scalable solution for infrastructure investing,” said Mark Makepeace, Chief Executive Officer of Wilshire Indexes. “We’re proud to help set a new standard for transparency and accessibility in private assets.”
Jon Levin, President of GCM Grosvenor, added, “Institutional investors are increasingly asking for an efficient way to gain diversified infrastructure exposure. Working with Wilshire Indexes lets us answer that call today – and lays the groundwork for additional alternative investment products.”
North Dakota Trust Lands, a longstanding collaborator with both Wilshire Indexes and GCM Grosvenor, played an instrumental role in forging the partnership behind the index and anticipated investor-focused product. “Allocators like us have long searched for a volatility-matched, risk-appropriate, and investable infrastructure benchmark, and we believe that Wilshire Indexes and GCM Grosvenor have the best expertise to help bring this vision to life,” said Frank Mihail, Chief Investment Officer of North Dakota Trust Lands.
Following the launch of the Infrastructure Index, the Wilshire Indexes and GCM Grosvenor intend to collaborate on additional alternative investment indices and complementary investable products across the alternative investments landscape. Future initiatives will capitalize on the breadth, depth, and global scale of both organizations, leveraging advanced data analytics and scalable technology platforms to further enhance transparent access to alternative assets.
Wilshire Indexes expects to publish the initial Index results to subscribers in the third quarter of 2025. GCM Grosvenor anticipates launching the prospective tracking vehicles later this year, subject to customary approvals.
About Wilshire Indexes
Wilshire Indexes is a global index provider that empowers institutional investors, asset managers and retail intermediaries with unmatched flexibility in solving benchmarking, portfolio construction, and risk management challenges. Transforming the way investors use benchmarks to realize their objectives, Wilshire Indexes provides global coverage of the markets through the leading FT Wilshire Index Series. Combining new technology and modular products in a growth-aligned commercial model designed for collaboration, efficiency, and speed to market, Wilshire Indexes offers a completely new way to work with an index provider.
About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $82 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.
About North Dakota Department of Trust Lands
The North Dakota Department of Trust Lands manages 2.6 million mineral acres, 700,000 surface acres and 13 permanent education trusts, including the Common Schools Trust Fund currently valued at over $7.5 billion. The Department operates under the direction of the five-member North Dakota Board of University and School Lands, chaired by the governor of North Dakota. Mineral royalty income, agricultural rents and easement revenues from state-owned lands are invested to provide income and grow trusts to benefit education now and for future generations. Since 2014, the Common Schools Trust Fund has distributed more than $2 billion to support North Dakota K-12 education, reducing the burden on local property taxpayers and the state’s general fund. During the 2025-2027 biennium, the Common Schools Trust Fund will distribute $585 million, translating to approximately $2,508 in funding per K-12 student and contributing 24% of the state funding share.
Media Contact
Tom Johnson and Abigail Ruck
H/Advisors Abernathy
tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global
212-371-5999
Source: GlobeNewswire (MIL-OSI)
AUSTIN, Texas, July 16, 2025 (GLOBE NEWSWIRE) — Bazaarvoice, Inc., the leading platform for authentic ratings and reviews and social commerce solutions, today released its latest holiday shopping study based on a survey of more than 8,000 global shoppers. The results revealed that in a challenging economy shoppers are scrutinizing value, options, and convenience. They are starting to holiday shop earlier, seeking out sales and free shipping, and opting for budget-friendly brands.
“Holiday shopping is here,” said Doug Straton, CMO at Bazaarvoice. “Shoppers are shopping earlier, prioritizing value, and turning to the trusted voices of their peers to guide their decisions – via reviews, social posts and other types of user-generated content. As the lines between content, commerce, and community continue to blur, it’s clear that authenticity, convenience, and trust remain key for holiday retail success.”
Global survey highlights include:
To see more about the report, visit Bazaarvoice’s Holiday Headquarters.
Research methodology
The research was commissioned by Bazaarvoice and conducted in March 2025 by Savanta among over 8,000 consumers in the United States, United Kingdom, Germany, France, Australia, and Canada.
About Bazaarvoice
Bazaarvoice is reshaping how brands and retailers connect with consumers by putting the consumer voice first, which includes ratings and reviews. With an end-to-end, commerce-empowered omni-channel content solutions and analytics platform, Bazaarvoice helps 14,000+ brands and retailers inform consumer decisions consistently and at scale at every stage of the shopper journey, on every platform where shoppers live. 2.5B shoppers use the Bazaarvoice Network on a monthly basis.
Founded in 2005, Bazaarvoice is headquartered in Austin, Texas, with offices in North America, Europe, Australia, and India. For more information, visit www.bazaarvoice.com.
Press Contact
Lauren Venticinque
Lauren.venticinque@bazaarvoice.com
Source: GlobeNewswire (MIL-OSI)
AUSTIN, Texas, July 16, 2025 (GLOBE NEWSWIRE) — OPTIZMO Technologies, the leading platform for email suppression list management, data security, and email compliance, proudly announces its return as the Official Email Compliance Sponsor for MailCon 2025, taking place on Sunday, August 3, at Convene, Times Square, in New York City.
Hosted and operated by Phonexa, MailCon has become the premier destination for high-volume email marketers and performance-driven acquisition professionals. It brings together advertisers, lead gen experts, and marketing technologists to explore the evolving future of email, multichannel, and compliance strategies at scale.
This year’s event will spotlight key industry trends, including inbox engagement, the impact of AI on email strategy, compliance, and consent in cold outreach, and vertical-specific acquisition strategies across sectors like insurance, health, finance, automotive, and home services. With an emphasis on monetization, offer scaling, and long-term value, MailCon offers a one-day agenda packed with insights and tactical sessions designed for practitioners and decision-makers alike.
MailCon 2025 also introduces several new experiences this year:
As a longtime MailCon sponsor and advocate for compliant email practices, OPTIZMO is committed to driving innovation, transparency, and compliance across the industry.
“As a long-time supporter of MailCon, it’s great to return as the Official Email Compliance Sponsor again in 2025,” said Khris Thayer, CEO and Co-Founder of OPTIZMO. “It’s an exciting time for the email industry, and we’re proud to contribute to the conversations that are shaping its future.”
As part of the MailCon agenda, OPTIZMO’s Chief Operating Officer, Tom Wozniak, will be featured in a Fireside Chat titled “Compliance, Credibility, and the Cost of Doing Nothing”. Joined by Jack Wrigley, VP of Partner Development at Webbula.
Attendees are encouraged to visit Booth #129 to connect with the OPTIZMO team, learn more about their flagship compliance platform, Suppress, and get an exclusive first look at OPTIZMO’s newest product. It is a platform built to bring smarter orchestration, optimized workflows, and better performance to email campaign management.
Following MailCon, OPTIZMO will also attend Affiliate Summit East (Meet Market Table #2405), taking place August 4-5 in New York. With a full team on-site, including members from their U.S. and Australia offices, OPTIZMO will continue connecting with partners and clients, highlighting innovations in email compliance and campaign execution.
About OPTIZMO
OPTIZMO Technologies is the recognized thought leader in the email and online marketing space for email suppression list management and compliance, campaign orchestration and optimization, data management, and risk mitigation services. With an expert staff in pursuit of unrivaled efficiency, innovative technology, and an insatiable desire to problem-solve, clients find a customer-centric business model that not only enhances the way OPTIZMO clients do business but drives the company forward. The company is headquartered in Austin, TX, and has offices and team members in Charleston, Denver, and Brisbane, Australia.
Media Contact:
Antonio Jones
Marketing Manager
antonio@optizmo.com
Tom Wozniak
Chief Operating Officer
tom@optizmo.com
Source: GlobeNewswire (MIL-OSI)
SANTA CLARA, Calif., July 16, 2025 (GLOBE NEWSWIRE) — PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor ecosystem, today announced it will host its 2025 Analyst Day in conjunction with its 2025 Users Conference on Wednesday, December 3rd, 2025, at the Marriott Hotel in Santa Clara, CA. The event will feature presentations from Chief Executive Officer, President, and Co-Founder, John K. Kibarian, Ph.D., and Chief Financial Officer, Adnan Raza.
Additional information, including registration details, can be found at this link: https://events.pdf.com/
Presentations and a live webcast, including question and answer session will be made available on the day of the event on the Investor Relations section of the Company’s website, at https://ir.pdf.com/.
About PDF Solutions
PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystem to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor and electronics ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.
Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit https://www.pdf.com.
Headquartered in Santa Clara, California, PDF Solutions also operates worldwide in Canada, China, France, Germany, Italy, Japan, Korea, Sweden, and Taiwan. For the Company’s latest news and information, visit https://www.pdf.com
PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. and/or its subsidiaries in the United States and other countries.
Company Contacts
Adnan Raza
Chief Financial Officer
P: +1 (408) 516-0237
Email: adnan.raza@pdf.com
Sonia Segovia
Investor Relations
P: +1 (408) 838-6491
Email: sonia.segovia@pdf.com
Source: APO – Report:
.
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has been assigned a long-term Issuer credit rating of A+ with a stable outlook by Japan Credit Rating Agency, Ltd (JCR). This rating will enable AFC to continue growing its footprint in Asian capital markets.
“The credit rating reflects AFC’s leading role in infrastructure development in Africa, the strong support from its member states and shareholders, the benefits of Preferred Creditor Status (PCS), its conservative financial policy, and its strong capital base,” JCR stated in its report.“ AFC employs diverse funding channels, including Eurobond issuance in international capital markets; borrowing from MDBs such as the African Development Bank, PROPARCO, DEG/FMO, KFW group, Export-Import Bank of China, Korea Development Bank, etc.; and financing from African, Chinese, European, Indian, Japanese and Middle Eastern private financial institutions.”
The Japan Credit Rating Agency’s A+ rating reflects AFC’s continued demonstration of solid capital adequacy, maintaining a Capital Adequacy Ratio of 33.6% and improving its Cost-to-Income Ratio to 17.3% in FYE2024. In 2024, AFC delivered remarkable financial results, posting a 22.8% increase in revenue to surpass US$1 billion for the first time, as well as a 16.7% rise in total assets to US$14.41 billion. Liquidity buffers remain well above prudential thresholds, with a liquidity coverage ratio of 194% under normal conditions and 191% on a stressed basis, underscoring AFC’s resilience.
JCR’s rating decision supports the Corporation’s ability to secure competitive borrowing costs. This financial strength underpins AFC’s ability to deliver transformational infrastructure projects across power, natural resources, transport and logistics, heavy industry, telecommunications, and technology—driving industrialisation and job creation across the continent. A notable example is the Lobito Corridor, where AFC serves as lead developer. Positioned to become one of Africa’s most strategic economic arteries, the corridor will connect Angola’s Port of Lobito on the Atlantic coast to Zambia through modernised rail infrastructure, enhancing regional trade, unlocking mineral value chains, and catalysing cross-border economic integration.
Other key AFC transactions include a US$150 million investment in the Kamoa-Kakula Copper Complex—Africa’s largest and one of the world’s most sustainable copper producers and leading the commercial financing of a €381.5 million package for the engineering, procurement, and construction of 186 bridges and critical upgrades to Angola’s road network, which will improve connectivity and boost regional trade.
Leading Japanese financial institutions—Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation have been critical partners supporting AFC on its journey of transforming Africa, participating in multiple funding transactions including bilateral, syndicated and Samurai facilities. This partnership has extended beyond AFC’s own capital-raising efforts to broader support for African issuers. A notable example is the Arab Republic of Egypt’s inaugural Samurai Bond, where AFC acted as re-guarantor and SMBC served as guarantor, facilitating a successful JPY 75 billion private placement.
“Amidst a challenging global macroeconomic backdrop, this endorsement by JCR affirms AFC’s financial strength and credibility, enhancing our ability to mobilise competitively priced capital for transformative infrastructure projects across Africa,” said Banji Fehintola, Executive Board Member & Head, Financial Services at AFC. “It reinforces our position as a reliable institutional partner for Japan and a key driver of Africa-Japan cooperation.”
“In the challenging business environment, with increasing geopolitical instability in some African countries, AFC’s role in advancing infrastructure development in Africa as an MDB established by African countries is becoming more important, and support from member states and shareholders is expected to strengthen,” JCR analysts said, commending the Corporation. “AFC conducts appropriate risk management in the challenging business environment in Africa, ensuring strong profitability and building a sound financial structure. AFC has established risk management policies for various risks associated with its operations, including credit risk, market risk, liquidity risk, operational risk, assets and liabilities management (ALM) risk, and environmental/social policy risks,” they further reported.
Some of AFC’s landmark funding initiatives include the successful issuance of its US$500 million perpetual hybrid bond, the closing of a US$400 million Shariah-compliant Commodity Murabaha, and leading Nigeria’s inaugural domestic dollar bond issuance, which raised over US$900 million, with an oversubscription rate of 180%. These transactions underscore the Corporation’s innovative approach to capital markets, diversifying funding sources and enhancing its ability to finance transformational infrastructure projects across Africa.
For the full statement from Japan Credit Rating Agency, please click here (https://apo-opa.co/46j2eU9).
– on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.
Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception. www.AfricaFC.org
Source: Hong Kong Government special administrative region
The Government will gazette the Road Traffic (Construction and Maintenance of Vehicles) (Amendment) Regulation 2025 and the Road Traffic (Public Service Vehicles) (Amendment) Regulation 2025 this Friday (July 18). The Amendment Regulations seek to mandate the installation of Journey Recording Systems (JRS) on all taxis and require all taxi drivers to allow taxi fares to be paid by electronic payment means (e-payment means), with a view to enhancing the overall taxi service quality with technology and meeting public’s demand.
A spokesperson for the Transport and Logistics Bureau said, “The JRS should be capable of making video recordings with audio inside a taxi compartment (in-vehicle recordings) as well as making video recordings of the clear front and rear views outside the taxi. It should also capture data concerning the location of the taxi via a global navigation satellite system and be properly sealed and examined. We believe that these functions will help deter taxi drivers’ malpractices, enhance driving safety of taxis and safeguard the interest of drivers and passengers in the event of disputes.”
To assist the trade in preparing for the new requirements relating to the JRS, the Transport Department (TD) will inform the trade of the relevant requirements through various channels, such as the TD’s website, the regular publication of the Taxi Newsletter, publicity leaflets and regular meetings with the taxi trade, in the second half of this year. The TD will also carry out works relating to the authorisation of suppliers starting from the fourth quarter of this year, so that the trade may start installing the JRSs inside taxi compartments in 2026. Upon completion of such installation on all taxis, the JRSs will be ready to come into operation and will have to be connected to the centralised Information System of the TD.
To protect the privacy of passengers and drivers, the recordings and data captured by the JRS should be encrypted. Only under specified purpose(s) (e.g. investigating any conduct that may constitute a traffic-related contravention under any law of Hong Kong), law enforcement agencies, the Commissioner for Transport and authorised persons can retrieve or access the in-vehicle recordings.
“In addition, since many taxis now still accept cash only which has caused great inconvenience to passengers (especially tourists), our Amendment Regulation will require all taxi drivers to allow fares to be paid by e-payment means. To help drivers to prepare for the new requirement before it comes into effect, the TD will actively co-ordinate with various e-payment platforms in arranging workshops or briefings to assist drivers in learning how to collect fares through e-payment means. This requirement will come into operation on April 1, 2026,” the spokesperson added.
The Legislative Council (LegCo) Panel on Transport and the Transport Advisory Committee were briefed respectively on the proposals in December 2024 and Members were supportive of the proposals. The Amendment Regulations will be tabled at the LegCo on July 23, 2025 for negative vetting.
Details of the proposals and the commencement of the provisions relating to the JRS and e-payment means are set out in the LegCo brief issued by the Government today (July 16).
Source: NASA
A host of scientific investigations await the crew of NASA’s SpaceX Crew-11 mission during their long-duration expedition aboard the International Space Station. NASA astronauts Zena Cardman and Mike Fincke, and JAXA (Japan Aerospace Exploration Agency) astronaut Kimiya Yui, are set to study plant cell division and microgravity’s effects on bacteria-killing viruses, as well as perform experiments to produce a higher volume of human stem cells and generate on-demand nutrients.
Here are details on some of the research scheduled during the Crew-11 mission:
A stem cell investigation called StemCellEx-IP1 evaluates using microgravity to produce large numbers of induced pluripotent stem cells. Made by reprogramming skin or blood cells, these stem cells can transform into any type of cell in the body and are used in regenerative medicine therapies for many diseases. However, producing enough cells on the ground is a challenge.
Researchers plan to use the microgravity environment aboard the space station to demonstrate whether generating 1,000 times more cells is possible and whether these cells are of higher quality and better for clinical use than those made on Earth. If proven, this could significantly improve future patient outcomes.
“This type of stem cell research is a chance to find treatments and maybe even cures for diseases that currently have none,” said Tobias Niederwieser of BioServe Space Technologies, which developed the investigation. “This represents an incredible potential to make life here on Earth better for all of us. We can take skin or blood cells from a patient, convert them into stem cells, and produce custom cell-therapy with little risk for rejection, as they are the person’s own cells.”
Genes in Space is a series of competitions in which students in grades 7 through 12 design DNA experiments that are flown to the space station. Genes in Space-12 examines the effects of microgravity on interactions between certain bacteria and bacteriophages, which are viruses that infect and kill bacteria. Bacteriophages already are used to treat bacterial infections on Earth.
“Boeing and miniPCR bio co-founded this competition to bring real-world scientific experiences to the classroom and promote molecular biology investigations on the space station,” said Scott Copeland of Boeing, and co-founder of Genes in Space. “This investigation could establish a foundation for using these viruses to treat bacterial infections in space, potentially decreasing the dependence on antibiotics.”
“Previous studies indicate that bacteria may display increased growth rates and virulence in space, while the antibiotics used to combat them may be less effective,” said Dr. Ally Huang, staff scientist at miniPCR bio. “Phages produced in space could have profound implications for human health, microbial control, and the sustainability of long-duration remote missions. Phage therapy tools also could revolutionize how we manage bacterial infections and microbial ecosystems on Earth.”
Some vitamins and nutrients in foods and supplements lose their potency during prolonged storage, and insufficient intake of even a single nutrient can lead to serious diseases, such as a vitamin C deficiency, causing scurvy. The BioNutrients-3 experiment builds on previous investigations looking at ways to produce on-demand nutrients in space using genetically engineered organisms that remain viable for years. These include yogurt and a yeast-based beverage made from yeast strains previously tested aboard station, as well as a new, engineered co-culture that produces multiple nutrients in one sample bag.
“BioNutrients-3 includes multiple food safety features, including pasteurization to kill microorganisms in the sample and a demonstration of the feasibility of using a sensor called E-Nose that simulates an ultra-sensitive nose to detect pathogens,” said Kevin Sims, project manager at NASA’s Ames Research Center in California’s Silicon Valley.
Another food safety feature is a food-grade pH indicator to track bacterial growth.
“These pH indicators help the crew visualize the progress of the yogurt and kefir samples,” Sims said. “As the organisms grow, they generate lactic acid, which lowers the pH and turns the indicator pink.”
The research also features an investigation of yogurt passage, which seeds new cultures using a bit of yogurt from a finished bag, much like maintaining a sourdough bread starter. This method could sustain a culture over multiple generations, eliminating concerns about yogurt’s shelf life during a mission to the Moon or Mars while reducing launch mass.
The JAXA Plant Cell Division investigation examines how microgravity affects cell division in green algae and a strain of cultured tobacco cells. Cell division is a fundamental element of plant growth, but few studies have examined it in microgravity.
“The tobacco cells divide frequently, making the process easy to observe,” said Junya Kirima of JAXA. “We are excited to reveal the effects of the space environment on plant cell division and look forward to performing time-lapse live imaging of it aboard the space station.”
Understanding this process could support the development of better methods for growing plants for food in space, including on the Moon and Mars. This investigation also could provide insight to help make plant production systems on Earth more efficient.
For nearly 25 years, people have lived and worked continuously aboard the International Space Station, advancing scientific knowledge and conducting critical research for the benefit of humanity and our home planet. Space station research supports the future of human spaceflight as NASA looks toward deep space missions to the Moon under the Artemis campaign and in preparation for future human missions to Mars, as well as expanding commercial opportunities in low Earth orbit and beyond.
Learn more about the International Space Station at:
https://www.nasa.gov/station
Source: GlobeNewswire (MIL-OSI)
PANAMA CITY, July 16, 2025 (GLOBE NEWSWIRE) — HTX, a leading global cryptocurrency exchange, announces the launch of its TRUMP Trading Extravaganza, a comprehensive campaign designed to capitalize on the surging interest surrounding the TRUMP token. This initiative follows significant developments, including Justin Sun’s recent acquisition of $100 million in $TRUMP. As reported by CoinDesk on July 10, Justin Sun, founder of TRON DAO and Advisor to HTX, has publicly affirmed his strong belief in TRUMP’s global narrative potential and committed to driving its widespread adoption across Asian markets. This strategic push is underpinned by the TRON ecosystem’s ongoing development of a future-proof global settlement layer, which provides robust support for stablecoins and fosters on-chain liquidity for prominent assets, including TRUMP.
Capitalizing on recent market momentum, including Bitcoin’s sustained record-breaking performance and strengthening on-chain consensus, HTX’s TRUMP Trading Extravaganza provides diverse opportunities for users to engage with and potentially profit from the burgeoning TRUMP trend. Running until July 26 at 07:00 (UTC), the event features spot and futures trading competitions, Earn products, and lucky draws. With a total prize pool of 100,000 USDT, rewards are distributed across two main activities.
Activity 1: Join TRUMP Trading Competition to Split 40,000 USDT
The growing trading frenzy around TRUMP has prompted HTX to launch a dedicated TRUMP trading competition. Registered participants who achieve a cumulative spot trading volume (TRUMP/USDT) ≥ 500 USDT or a cumulative futures trading volume (TRUMPUSDT) ≥ 5,000 USDT will be eligible to share a 40,000 USDT prize pool. Rewards will be distributed based on overall trading volume rankings, with the champion on the leaderboard winning an exclusive 8,000 USDT. The top 10 traders are guaranteed substantial rewards, each receiving thousands of USDT.
To participate, users must click the “Register Now” button, as only trading data after registration will be included in the reward calculation.
Activity 2: TRUMP Earn Offers 20% APY and 60,000 USDT Bonus
Beyond trading, HTX provides a flexible and convenient option for users seeking stable returns. The TRUMP Flexible product allows users to earn limited-time high yields with ease.
Furthermore, HTX will randomly select five lucky users to receive a 50% APY Booster Coupon for USDD, enhancing their potential returns.
Early Participation Grants Priority Access to Wealth Opportunities
TRUMP has rapidly emerged as one of the most talked-about crypto assets, drawing widespread global attention fueled by the compelling narrative surrounding the 2024 U.S. election. It has consistently dominated trending topics across major social media platforms, achieving a remarkable convergence of escalating market value and intense public interest. Demonstrating keen market foresight, HTX quickly responded to these trends by being among the first to list TRUMP at the start of its market surge. With renewed enthusiasm for this “political meme token,” HTX’s TRUMP event will continue to empower users with valuable wealth-creation opportunities. The synergy of political developments and market sentiment is creating an undeniable “TRUMP Storm”, which is expected to drive a vibrant new cycle for meme coins.
Participate now, ride the wave of this exciting trend, and reap the rewards of the TRUMP Frenzy with HTX!
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord. For further inquiries, please contact glo-media@htx-inc.com.
Disclaimer: This content is provided by HTX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/8a846c64-73cc-4aaa-b3d2-18e21f3490f2
Source: GlobeNewswire (MIL-OSI)
Key Highlights
TORONTO, July 16, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (TSXV:MATA, OTCQB:MATAF, FSE:IU3) (“Matador” or the “Company”) announces that its Board of Directors (the “Board”) has recently approved the initiation of a treasury plan to pursue the accumulation of up to 6,000 Bitcoin on or before 2027. The Board also ratified an interim objective of 1,000 BTC on or before 2026. Matador currently holds 77.4 BTC and BTC equivalents and has a long-term objective to hold 1% of Bitcoin’s supply and be a top 20 corporate holder globally.
BTC Holdings and Strategic Objectives
Matador currently holds 77.4 BTC and BTC equivalents, and is currently considering various financing alternatives to acquire additional Bitcoin, with indicative targets of acquiring up to 1,000 BTC on or before 2026 and 6,000 BTC on or before 2027. These targets are indicative only and should not be construed as financial projections.
Based on certain illustrative assumptions, if the full CAD $900 million available under the base shelf prospectus were used to acquire Bitcoin, and assuming an average purchase price of CAD $151,659 per BTC (based on the average daily closing price over the past two weeks as of July 13, 2025), this would represent approximately 5,934 BTC. When added to the Company’s existing holdings of approximately 77 BTC, this would total approximately 6,011 BTC, which aligns with the Company’s 2027 target. These assumptions are for illustrative purposes only.
Acquisition of any additional Bitcoin by the Company is subject to various factors, including financing availability, prevailing market conditions, and any required regulatory consents. The cost of acquiring Bitcoin will depend on prevailing market conditions and may vary materially. The Company will assess all acquisitions based on price, timing, and capital impact. Matador will evaluate funding options based on prevailing market conditions and investor appetite, with a focus on maximizing Bitcoin per Share (“BPS”) while maintaining a strong capital structure. No assurance can be given that any financing alternative will be available on terms acceptable to the Company or at all.
Funding Strategy
To execute the plan, Matador may employ:
To support its objectives, Matador has filed a preliminary short-form base shelf prospectus (“Shelf Prospectus”) for CAD $900M with the securities regulatory authorities in the Provinces of Canada, other than Quebec, on July 11, 2025, which remains subject to review by applicable securities regulators. Subject to regulatory approval, if approved, the final version of the Shelf Prospectus will permit the Company to issue equity, debt or units from time to time over a 25-month period, providing flexibility to align capital raising with market windows.
“Our business is structured around Bitcoin as a core asset,” said Deven Soni, CEO of Matador Technologies. “This approach extends beyond treasury management to include infrastructure and operational components aligned with the Bitcoin ecosystem. Execution is subject to financing, market conditions and regulatory approval.”
“Holding Bitcoin as a treasury asset allows us to align with a fixed-supply, globally accessible monetary network,” said Mark Moss, Chief Visionary Officer of Matador Technologies. “Our future plans to accumulate Bitcoin are designed to establish long-term stability on our balance sheet while reducing exposure to inflationary risk. Execution is subject to financing, market conditions and regulatory approval.”
A New Era of Bitcoin-Backed Business
Matador’s strategy is built on a compounding flywheel that integrates treasury allocation, financial innovation, and real-world product development:
For additional information, please contact:
Media Contact:
Sunny Ray
President
Email: sunny@matador.network
Phone: 647-496-6282
About Matador Technologies Inc.
Matador Technologies Inc. (TSXV:MATA, OTCQB:MATAF, FSE:IU3) is a publicly traded Bitcoin ecosystem company focused on holding Bitcoin as its primary treasury asset and building products to enhance the Bitcoin network. Matador’s strategy combines strategic Bitcoin accumulation, Bitcoin-native product development, and participation in digital asset infrastructure, with a focus on driving long-term shareholder value while maintaining capital efficiency.
Matador has recently proposed to expand its global footprint by entering into an agreement to invest in HODL Systems, one of India’s first digital asset treasury companies, securing up to a 24% ownership stake. This investment strengthens Matador’s position as a leading Bitcoin treasury company and underscores its commitment to the worldwide adoption of Bitcoin as a reserve asset.
With a Bitcoin-first strategy, and a clear focus on innovation, Matador is shaping the future of financial infrastructure on Bitcoin.
Visit us online at https://www.matador.network/.
Cautionary Statement Regarding Forward-Looking Information
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Forward-Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy, receipt of regulatory approvals, anticipated growth in Net Asset Value and/or BPS, the ability of the Company to meet its indicative Bitcoin accumulation targets as currently proposed or at all, availability of financing on terms acceptable to the Company or at all, and the operation of its platform as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, availability of financing and regulatory approvals, whether a final Shelf Prospectus will be filed as currently proposed or at all, the terms and conditions of any future financings by the Company, the pricing of acquisitions, the long term value of Bitcoin, the success of the Company’s platform as currently proposed or at all, the impact of the value of Bitcoin and any of Matador’s initiatives on shareholder value and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6cb0a194-96d6-4a88-8885-49434e91c3a5
Source: GlobeNewswire (MIL-OSI)
Key Highlights
TORONTO, July 16, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (TSXV:MATA, OTCQB:MATAF, FSE:IU3) (“Matador” or the “Company”) announces that its Board of Directors (the “Board”) has recently approved the initiation of a treasury plan to pursue the accumulation of up to 6,000 Bitcoin on or before 2027. The Board also ratified an interim objective of 1,000 BTC on or before 2026. Matador currently holds 77.4 BTC and BTC equivalents and has a long-term objective to hold 1% of Bitcoin’s supply and be a top 20 corporate holder globally.
BTC Holdings and Strategic Objectives
Matador currently holds 77.4 BTC and BTC equivalents, and is currently considering various financing alternatives to acquire additional Bitcoin, with indicative targets of acquiring up to 1,000 BTC on or before 2026 and 6,000 BTC on or before 2027. These targets are indicative only and should not be construed as financial projections.
Based on certain illustrative assumptions, if the full CAD $900 million available under the base shelf prospectus were used to acquire Bitcoin, and assuming an average purchase price of CAD $151,659 per BTC (based on the average daily closing price over the past two weeks as of July 13, 2025), this would represent approximately 5,934 BTC. When added to the Company’s existing holdings of approximately 77 BTC, this would total approximately 6,011 BTC, which aligns with the Company’s 2027 target. These assumptions are for illustrative purposes only.
Acquisition of any additional Bitcoin by the Company is subject to various factors, including financing availability, prevailing market conditions, and any required regulatory consents. The cost of acquiring Bitcoin will depend on prevailing market conditions and may vary materially. The Company will assess all acquisitions based on price, timing, and capital impact. Matador will evaluate funding options based on prevailing market conditions and investor appetite, with a focus on maximizing Bitcoin per Share (“BPS”) while maintaining a strong capital structure. No assurance can be given that any financing alternative will be available on terms acceptable to the Company or at all.
Funding Strategy
To execute the plan, Matador may employ:
To support its objectives, Matador has filed a preliminary short-form base shelf prospectus (“Shelf Prospectus”) for CAD $900M with the securities regulatory authorities in the Provinces of Canada, other than Quebec, on July 11, 2025, which remains subject to review by applicable securities regulators. Subject to regulatory approval, if approved, the final version of the Shelf Prospectus will permit the Company to issue equity, debt or units from time to time over a 25-month period, providing flexibility to align capital raising with market windows.
“Our business is structured around Bitcoin as a core asset,” said Deven Soni, CEO of Matador Technologies. “This approach extends beyond treasury management to include infrastructure and operational components aligned with the Bitcoin ecosystem. Execution is subject to financing, market conditions and regulatory approval.”
“Holding Bitcoin as a treasury asset allows us to align with a fixed-supply, globally accessible monetary network,” said Mark Moss, Chief Visionary Officer of Matador Technologies. “Our future plans to accumulate Bitcoin are designed to establish long-term stability on our balance sheet while reducing exposure to inflationary risk. Execution is subject to financing, market conditions and regulatory approval.”
A New Era of Bitcoin-Backed Business
Matador’s strategy is built on a compounding flywheel that integrates treasury allocation, financial innovation, and real-world product development:
For additional information, please contact:
Media Contact:
Sunny Ray
President
Email: sunny@matador.network
Phone: 647-496-6282
About Matador Technologies Inc.
Matador Technologies Inc. (TSXV:MATA, OTCQB:MATAF, FSE:IU3) is a publicly traded Bitcoin ecosystem company focused on holding Bitcoin as its primary treasury asset and building products to enhance the Bitcoin network. Matador’s strategy combines strategic Bitcoin accumulation, Bitcoin-native product development, and participation in digital asset infrastructure, with a focus on driving long-term shareholder value while maintaining capital efficiency.
Matador has recently proposed to expand its global footprint by entering into an agreement to invest in HODL Systems, one of India’s first digital asset treasury companies, securing up to a 24% ownership stake. This investment strengthens Matador’s position as a leading Bitcoin treasury company and underscores its commitment to the worldwide adoption of Bitcoin as a reserve asset.
With a Bitcoin-first strategy, and a clear focus on innovation, Matador is shaping the future of financial infrastructure on Bitcoin.
Visit us online at https://www.matador.network/.
Cautionary Statement Regarding Forward-Looking Information
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Forward-Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy, receipt of regulatory approvals, anticipated growth in Net Asset Value and/or BPS, the ability of the Company to meet its indicative Bitcoin accumulation targets as currently proposed or at all, availability of financing on terms acceptable to the Company or at all, and the operation of its platform as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, availability of financing and regulatory approvals, whether a final Shelf Prospectus will be filed as currently proposed or at all, the terms and conditions of any future financings by the Company, the pricing of acquisitions, the long term value of Bitcoin, the success of the Company’s platform as currently proposed or at all, the impact of the value of Bitcoin and any of Matador’s initiatives on shareholder value and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6cb0a194-96d6-4a88-8885-49434e91c3a5
Source: GlobeNewswire (MIL-OSI)
CHICAGO and MILWAUKEE and NEW YORK, July 16, 2025 (GLOBE NEWSWIRE) — YieldMax® today announced distributions for the YieldMax®Weekly Payers and Group B ETFs listed in the table below.
| ETF Ticker1 | ETF Name | Distribution Frequency | Distribution per Share | Distribution Rate2,4 | 30-Day SEC Yield3 |
ROC5 | Ex-Date & Record Date | Payment Date | |
| CHPY | YieldMax® Semiconductor Portfolio Option Income ETF | Weekly | $0.3730 | 35.07% | 0.04% | 100.00% | 7/17/25 | 7/18/25 | |
| GPTY | YieldMax® AI & Tech Portfolio Option Income ETF | Weekly | $0.2956 | 32.36% | 0.00% | 100.00% | 7/17/25 | 7/18/25 | |
| LFGY | YieldMax® Crypto Industry & Tech Portfolio Option Income ETF | Weekly | $0.4799 | 62.40% | 0.00% | 90.24% | 7/17/25 | 7/18/25 | |
| QDTY | YieldMax® Nasdaq 100 0DTE Covered Call ETF | Weekly | $0.1906 | 22.29% | 0.00% | 0.00% | 7/17/25 | 7/18/25 | |
| RDTY | YieldMax® R2000 0DTE Covered Call ETF | Weekly | $0.3330 | 38.07% | 1.65% | 38.62% | 7/17/25 | 7/18/25 | |
| SDTY | YieldMax® S&P 500 0DTE Covered Call ETF | Weekly | $0.1481 | 17.13% | 0.07% | 0.00% | 7/17/25 | 7/18/25 | |
| ULTY | YieldMax® Ultra Option Income Strategy ETF | Weekly | $0.1035 | 85.69% | 0.00% | 81.67% | 7/17/25 | 7/18/25 | |
| YMAG | YieldMax® Magnificent 7 Fund of Option Income ETFs | Weekly | $0.1515 | 51.27% | 63.17% | 50.61% | 7/17/25 | 7/18/25 | |
| YMAX | YieldMax® Universe Fund of Option Income ETFs | Weekly | $0.1041 | 39.01% | 82.40% | 76.75% | 7/17/25 | 7/18/25 | |
| BABO | YieldMax® BABA Option Income Strategy ETF | Every 4 weeks |
$0.3820 | 32.17% | 3.22% | 11.74% | 7/17/25 | 7/18/25 | |
| DIPS | YieldMax® Short NVDA Option Income Strategy ETF | Every 4 weeks |
$0.1716 | 31.92% | 3.59% | 88.67% | 7/17/25 | 7/18/25 | |
| FBY | YieldMax® META Option Income Strategy ETF | Every 4 weeks |
$0.4992 | 38.91% | 2.87% | 0.00% | 7/17/25 | 7/18/25 | |
| GDXY | YieldMax® Gold Miners Option Income Strategy ETF | Every 4 weeks |
$0.3321 | 29.03% | 3.22% | 0.00% | 7/17/25 | 7/18/25 | |
| JPMO | YieldMax® JPM Option Income Strategy ETF | Every 4 weeks |
$0.5085 | 38.99% | 2.70% | 0.00% | 7/17/25 | 7/18/25 | |
| MARO | YieldMax® MARA Option Income Strategy ETF | Every 4 weeks |
$2.3718 | 125.17% | 3.09% | 0.00% | 7/17/25 | 7/18/25 | |
| MRNY | YieldMax® MRNA Option Income Strategy ETF | Every 4 weeks |
$0.2004 | 101.03% | 3.07% | 0.00% | 7/17/25 | 7/18/25 | |
| NVDY | YieldMax® NVDA Option Income Strategy ETF | Every 4 weeks |
$1.0285 | 75.28% | 2.78% | 37.15% | 7/17/25 | 7/18/25 | |
| PLTY | YieldMax® PLTR Option Income Strategy ETF | Every 4 weeks |
$2.5602 | 48.72% | 2.99% | 0.00% | 7/17/25 | 7/18/25 | |
| Weekly Payers & Group C ETFs scheduled for next week: CHPY GPTY LFGY QDTY RDTY SDTY ULTY YMAG YMAX ABNY AMDY CONY CVNY FIAT HOOY MSFO NFLY PYPY | |||||||||
Standardized Performance and Fund details can be obtained by clicking the ETF Ticker in the table above or by visiting us at www.yieldmaxetfs.com
Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (866) 864-3968.
Note: DIPS, FIAT, CRSH, YQQQ and WNTR are hereinafter referred to as the “Short ETFs.”
Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.
Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).
1 All YieldMax®ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. YMAG has a management fee of 0.29% and Acquired Fund Fees and Expenses of 0.83% for a gross expense ratio of 1.12%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax®ETFs. ULTY has a gross expense ratio of 1.40%, and a net expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.
2 The Distribution Rate shown is as of close on July 15, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended June 30, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
5 ROC refers to Return of Capital. The ROC percentage indicates how much the distribution reflects an investor’s initial investment. The figures shown for each Fund in the table above are estimates and may later be determined to be taxable net investment income, short-term gains, long-term gains (to the extent permitted by law), or return of capital. Actual amounts and sources for tax reporting will depend upon the Fund’s investment activities during the remainder of the fiscal year and may be subject to changes based on tax regulations. Your broker will send you a Form 1099-DIV for the calendar year to tell you how to report these distributions for federal income tax purposes.
Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.
Important Information
This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.
Tidal Financial Group is the adviser for all YieldMax® ETFs.
THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.
Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)
YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax® ETFs. As such, these funds are subject to the risks listed in this section, which apply to all the YieldMax® ETFs they may hold from time to time.
Investing involves risk. Principal loss is possible.
Referenced Index Risk. The Fund invests in options contracts that are based on the value of the Index (or the Index ETFs). This subjects the Fund to certain of the same risks as if it owned shares of companies that comprised the Index or an ETF that tracks the Index, even though it does not.
Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.
Russell 2000 Index Risks. The Index, which consists of small-cap U.S. companies, is particularly susceptible to economic changes, as these firms often have less financial resilience than larger companies. Market volatility can disproportionately affect these smaller businesses, leading to significant price swings. Additionally, these companies are often more exposed to specific industry risks and have less diverse revenue streams. They can also be more vulnerable to changes in domestic regulatory or policy environments.
Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.
Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.
High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.
Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.
Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA, HOOD, BRK.B, DKNG), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.
Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.
Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.
Risk Disclosures (applicable only to GPTY)
Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory, and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.
Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.
Risk Disclosure (applicable only to MARO)
Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.
Risk Disclosures (applicable only to BABO and TSMY)
Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.
Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.
Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.
Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting, and investor protection standards than U.S. issuers.
Risk Disclosures (applicable only to GDXY)
Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.
Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.
The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.
Risk Disclosures (applicable only to YBIT)
YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.
Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.
Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.
Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.
Risk Disclosures (applicable only to the Short ETFs)
Investing involves risk. Principal loss is possible.
Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.
Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.
Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.
Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.
High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.
Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.
Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA, MSTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole. Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.
Risk Disclosures (applicable only to CHPY)
Semiconductor Industry Risk. Semiconductor companies may face intense competition, both domestically and internationally, and such competition may have an adverse effect on their profit margins. Semiconductor companies may have limited product lines, markets, financial resources or personnel. Semiconductor companies’ supply chain and operations are dependent on the availability of materials that meet exacting standards and the use of third parties to provide components and services.
The products of semiconductor companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Capital equipment expenditures could be substantial, and equipment generally suffers from rapid obsolescence. Companies in the semiconductor industry are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights would adversely affect the profitability of these companies.
Risk Disclosures (applicable only to YQQQ)
Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.
Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.
Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.
YieldMax® ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax® ETFs.
© 2025 YieldMax® ETFs
Source: Government of India
Source: Government of India (4)
An $8 billion trial by Meta Platforms shareholders against Mark Zuckerberg and other current and former company leaders kicks off on Wednesday over claims that they illegally harvested the data of Facebook users in violation of a 2012 agreement with the U.S. Federal Trade Commission.
Jeffrey Zients, White House chief of staff under President Joe Biden and a Meta director for two years starting in May 2018, is expected to be one of the first witnesses to take the stand in the non-jury trial before Kathaleen McCormick, chief judge of the Delaware Chancery Court.
The case will feature testimony from Zuckerberg and other billionaire defendants including former Chief Operating Officer Sheryl Sandberg, venture capitalist and board member Marc Andreessen, and former board members Peter Thiel, Palantir Technologies co-founder, and Reed Hastings, co-founder of Netflix.
A lawyer for the defendants, who have denied the allegations, declined to comment.
The case began in 2018, following revelations that data from millions of Facebook users was accessed by Cambridge Analytica, a now-defunct political consulting firm that worked for Donald Trump’s successful U.S. presidential campaign in 2016.
The FTC fined Facebook $5 billion in the wake of the Cambridge Analytica scandal, saying the company had violated a 2012 agreement with the FTC to protect user data.
Shareholders want the defendants to reimburse Meta for the FTC fine and other legal costs, which the plaintiffs estimate total more than $8 billion.
In court filings, the defendants described the allegations as “extreme” and said the evidence at trial will show Facebook hired an outside consulting firm to ensure compliance with the FTC agreement and that Facebook was a victim of Cambridge Analytica’s deceit.
Meta, which is not a defendant, declined to comment. On its website, the company has said it has invested billions of dollars into protecting user privacy since 2019.
The lawsuit is considered the first of its kind to go to trial which alleges board members consciously failed to oversee their company. This is often described as the hardest claim to prove in Delaware corporate law.
Boeing’s current and former board members settled a case with similar claims in 2021 for $237.5 million, the largest ever in an alleged breach of oversight lawsuit. The Boeing directors did not admit to wrongdoing.
In addition to privacy claims at the heart of the Meta case, plaintiffs allege that Zuckerberg anticipated that the Cambridge Analytica scandal would send the company’s stock lower and sold his Facebook shares as a result, pocketing at least $1 billion.
Defendants said evidence will show that Zuckerberg did not trade on inside information and that he used a stock-trading plan that removes his control over sales and is designed to guard against insider trading.
McCormick is expected to rule on liability and damages months after the trial concludes.
(Reuters)
Source: Government of India
Source: Government of India (4)
India has reaffirmed its commitment to combat money laundering and terror financing, aligning its domestic frameworks with global standards set by the Financial Action Task Force (FATF).
Established in 1989 during the G7 Summit in Paris, FATF plays a crucial role in protecting the integrity of the global financial system. With 40 members today, the body’s recommendations have shaped anti-money laundering and counter-terrorist financing (AML/CFT) regimes worldwide, with over 200 countries pledging to comply.
India became FATF’s 34th member in 2010 and has since demonstrated zero tolerance towards terror financing and money laundering. The country’s frameworks, under the Prevention of Money Laundering Act (2002) and the Unlawful Activities (Prevention) Act (1967), are designed to detect and disrupt illicit flows of funds linked to organised crime, terrorism, and proliferation of weapons of mass destruction.
The FATF regularly identifies jurisdictions with weak measures through its public “grey list” and “blacklist.” As of June June 13, 2025, 24 countries — including South Africa, Syria, and Vietnam — are under increased monitoring. Nations like North Korea, Iran, and Myanmar remain on the blacklist due to persistent strategic deficiencies. Notably, FATF data shows that out of 139 countries reviewed, 86 have undertaken reforms to strengthen their AML/CFT frameworks.
India’s proactive approach is reflected in its consistent alignment with FATF standards and contributions to global assessments and case studies, demonstrating its role as a responsible player in safeguarding global security and financial transparency.
Source: Government of India
Source: Government of India (4)
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday passed a resolution celebrating the safe return of Group Captain Shubhanshu Shukla from the International Space Station (ISS), calling it “a moment of pride, glory, and joy for the entire nation.”
Shukla, part of the four-member Axiom-4 crew, returned to Earth on Tuesday aboard SpaceX’s Dragon capsule after spending 18 days in orbit. With this mission, Shukla became the first Indian astronaut to visit the ISS and only the second Indian to travel to space, four decades after Rakesh Sharma’s historic 1984 mission.
Hailing the milestone as a “watershed moment” for the country, the Cabinet said the mission heralds a new chapter in India’s space programme and offers a preview of what lies ahead in its human spaceflight ambitions.
“This successful mission significantly elevates India’s global standing in space exploration,” the resolution stated. “It is a vital stepping stone towards India’s own human spaceflight programme, including the Gaganyaan and the Bharatiya Antariksha Station. It reaffirms India’s resolve to be at the forefront of human space exploration.”
The Cabinet underlined India’s growing role in global space cooperation, particularly through the scientific experiments conducted by Shukla aboard the ISS.
He carried out a series of pioneering microgravity studies on muscle regeneration, algal and microbial growth, crop viability, microbial survivability, cognitive performance in space, and the behaviour of cyanobacteria. The resolution noted that these experiments will significantly enhance the global scientific understanding of human spaceflight and microgravity environments, while also contributing valuable insights for India’s future space missions.
The resolution credited Prime Minister Modi’s “visionary and decisive leadership” for enabling India’s recent space achievements and for pushing the country to the frontlines of space exploration. It recalled with pride the successful Chandrayaan-3 mission, which made India the first country to land near the Moon’s South Pole on August 23, 2023, a date now commemorated as National Space Day. It also highlighted the success of the Aditya-L1 solar mission, which has advanced global understanding of solar activity and its effects.
Pointing to the transformation of India’s space economy, the Cabinet noted that structural reforms in the sector have led to the emergence of around 300 space-tech start-ups.
“The emergence of around 300 new start-ups in this sector has not only led to job creation at a large scale, but also nurtured a vibrant ecosystem of innovation, entrepreneurship and technology-driven development,” the resolution said.
More than a personal triumph, the Cabinet described Shukla’s mission as a “beacon of inspiration” for the youth of India. “It will ignite scientific temper, fuel curiosity, and inspire countless young Indians to pursue careers in science and embrace innovation,” the resolution said.
“The Cabinet reaffirms its firm conviction that this mission will energise the national resolve to build Viksit Bharat—a Developed India—by 2047, as envisioned by the Prime Minister,” it added.
Source: Government of India
Source: Government of India (4)
After missing four years of test duty due to injury, England speedster Jofra Archer is keen to make up for lost time and says he wants to play the final two tests against India and prove he deserves a place in the squad for the Ashes series in Australia.
Archer made his test comeback at Lord’s in the third test, bowling at full tilt to claim five wickets, including three in the second innings as England clinched a 22-run victory to go 2-1 up in the five-match series.
England management, men’s managing director Rob Key in particular, have been careful about Archer’s workload since his recovery from elbow and back injuries but the bowler is raring to go.
“I can play the other two (against India) if they let me,” Archer told Sky Sports.
“I don’t want to lose this series. I told ‘Keysey’ I wanted to play the test summer and I wanted to play the Ashes.
“I think one tick is already there and I will do everything possible in my power to be on the plane in November.”
It was Archer’s first test since coach Brendon ‘Baz’ McCullum and captain Ben Stokes took the helm in 2022 and implemented an exciting result-oriented approach.
Archer was happy how his reintegration into the test squad had been handled.
“Obviously it would have been the format which would have taken the most time to come back to. So I played 50-over and T20 for the last year and a half, two years,” he said.
“The guys have played some really exciting cricket since Baz took over. I think the mentality of the team under Baz suits the way I like to play my cricket.
“I just couldn’t wait to get back and actually do it without having to be prompted to do it.”
Meanwhile, Left-arm spinner Liam Dawson has replaced injured Shoaib Bashir in England’s 14-player squad for the fourth test in the five-match series against India, the England and Wales Cricket Board said on Tuesday.
Bashir suffered a fracture to his finger in his non-bowling left hand while attempting a low catch during his own bowling during the third test on Saturday. He is set for surgery later this week.
The 21-year-old came back to bowl on Monday, taking India’s last wicket to ensure a thrilling 22-run victory for the hosts at Lord’s, securing a 2-1 lead in the series.
Dawson has not played a test match since July 2017 but has represented England in white-ball cricket since then, last appearing during the Twenty20 series against West Indies last month.
The 35-year-old has played five matches for Hampshire in the T20 Blast this month, taking five wickets.
The fourth test against India begins on July 23 in Manchester.
England squad: Ben Stokes (Captain), Jofra Archer, Gus Atkinson, Jacob Bethell, Harry Brook, Brydon Carse, Zak Crawley, Liam Dawson, Ben Duckett, Ollie Pope, Joe Root, Jamie Smith, Josh Tongue, Chris Woakes.
(Reuters)
Source: Government of India
Source: Government of India (4)
The Cabinet Committee on Economic Affairs on Wednesday approved a special exemption for NLC India Limited (NLCIL) to invest Rs.7,000 crore in its renewable energy expansion plans without adhering to certain existing investment guidelines for Navratna Central Public Sector Enterprises (CPSEs).
The decision will allow NLCIL to infuse the funds into its wholly owned subsidiary, NLC India Renewables Limited (NIRL). The subsidiary can then invest in renewable energy projects directly or through joint ventures without seeking prior approvals under the current delegation of powers. The exemption also lifts the ceiling that limits overall investment by CPSEs in joint ventures and subsidiaries to 30% of their net worth.
According to the official statement, this move will provide NLCIL and its subsidiary greater financial and operational flexibility to pursue large-scale renewable energy projects.
The approval supports NLCIL’s target of developing 10.11 GW of renewable energy capacity by 2030 and expanding this further to 32 GW by 2047. It aligns with India’s broader climate commitments made at COP26, including building 500 GW of non-fossil fuel energy capacity by 2030 and achieving net zero emissions by 2070.
NLCIL, a Navratna CPSE engaged in lignite mining and power generation, currently operates seven renewable energy assets with a combined installed capacity of 2 GW. These assets will be transferred to NIRL as part of the new arrangement.
The statement said NIRL will serve as the main platform for driving the company’s green energy projects and is actively looking at new opportunities in the sector, including participating in competitive bids for upcoming projects.
The approval is expected to help reduce India’s dependence on fossil fuels, lower coal imports, and support reliable round-the-clock power supply across the country.
Source: Government of India
Source: Government of India (4)
In a step to transform India’s agricultural landscape, the Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the “Prime Minister Dhan-Dhaanya Krishi Yojana” for a period of six years starting from the financial year 2025–26. The scheme, which was announced in the Union Budget 2025-26, aims to uplift 100 districts with low agricultural productivity, low cropping intensity, and limited credit access.
Drawing inspiration from NITI Aayog’s Aspirational District Programme, this is the first scheme of its kind focused exclusively on agriculture and allied sectors. It is designed to enhance crop productivity, promote diversification and sustainable farming, strengthen post-harvest storage, improve irrigation, and expand credit access for farmers.
The scheme will operate through convergence of 36 existing schemes across 11 central departments, along with state-level initiatives and partnerships with the private sector. At least one district from every state and union territory will be included, with the total allocation based on net cropped area and the number of operational holdings in each region.
To ensure efficient execution, committees will be formed at district, state, and national levels. Each district will prepare a customized Agriculture and Allied Activities Plan through its District Dhan-Dhaanya Samiti, which will include progressive farmers. These plans will align with national goals such as water and soil conservation, crop diversification, and the expansion of organic and natural farming.
Implementation of the scheme will be tracked via 117 key performance indicators using a digital dashboard with monthly updates. Central Nodal Officers will oversee progress in each district, while NITI Aayog will provide regular guidance and evaluation.
Source: Government of India
Source: Government of India (4)
In a step to transform India’s agricultural landscape, the Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the “Prime Minister Dhan-Dhaanya Krishi Yojana” for a period of six years starting from the financial year 2025–26. The scheme, which was announced in the Union Budget 2025-26, aims to uplift 100 districts with low agricultural productivity, low cropping intensity, and limited credit access.
Drawing inspiration from NITI Aayog’s Aspirational District Programme, this is the first scheme of its kind focused exclusively on agriculture and allied sectors. It is designed to enhance crop productivity, promote diversification and sustainable farming, strengthen post-harvest storage, improve irrigation, and expand credit access for farmers.
The scheme will operate through convergence of 36 existing schemes across 11 central departments, along with state-level initiatives and partnerships with the private sector. At least one district from every state and union territory will be included, with the total allocation based on net cropped area and the number of operational holdings in each region.
To ensure efficient execution, committees will be formed at district, state, and national levels. Each district will prepare a customized Agriculture and Allied Activities Plan through its District Dhan-Dhaanya Samiti, which will include progressive farmers. These plans will align with national goals such as water and soil conservation, crop diversification, and the expansion of organic and natural farming.
Implementation of the scheme will be tracked via 117 key performance indicators using a digital dashboard with monthly updates. Central Nodal Officers will oversee progress in each district, while NITI Aayog will provide regular guidance and evaluation.
Source: Hong Kong Information Services
Secretary for Security Tang Ping-keung will visit Jiangsu Province tomorrow to lead 75 members of the Security Bureau Youth Uniformed Group Leaders Forum, and members of Shenzhen University and youth groups of the public security forces of Macau to continue a study tour there for a better understanding of the country’s history and culture, as well as its modern development.
The six-day study tour, which started on July 15, took place in Nanjing and will proceed to Wuxi. Under Secretary for Security Michael Cheuk joined the visit on July 15 and 16.
Mr Tang will return to Hong Kong on July 20. During his absence, Mr Cheuk will be Acting Secretary.
Source: Hong Kong Government special administrative region – 4
The Hong Kong Public Libraries (HKPL) has set up a booth at the Hong Kong Book Fair 2025, which is being held from today (July 16) to July 22 at the Hong Kong Convention and Exhibition Centre, to introduce the HKPL’s rich e-resources under the theme “Zoom/LIBRARY”.
The booth is located at A32 in Hall 1C on 1/F. Members of the public can experience the online services and e-resources of the HKPL through touchscreen displays and tablets in the booth. They can also enjoy the audio programmes of selected books from the podcast channel of the HKPL, “24/7 Story Pavilion”. There are also special photo-taking spots, including some about Hong Kong’s historic sites related to the War of Resistance against Japanese Aggression. Visitors who upload a photo taken at the spots to social media platforms can redeem a souvenir on-site, while stocks last.
The HKPL has a number of rich electronic collections. Patrons can access a variety of Chinese and English e-books and e-magazines through electronic collections of Kono Libraries, OverDrive and Flipster, as well as a wide range of business and economic journals and scholarly dissertations in the ProQuest Business Collection. The e-book database Boundless by Baker & Taylor provides English e-books and audiobooks suitable for adults, teenagers and children. Parents can enjoy reading time with children utilising Chinese books in the FunPark e-book collection, and cultivate their children’s reading habits and language skills.
In addition, Chinese books suitable for people of different ages are available in the popular SUEP e-book database, which provides audiobooks of Jin Yong’s martial arts novels, works of renowned Hong Kong writers and more. The “Popular Good Reads@SUEP” series in the database selects popular books of diverse subjects for patrons to enjoy trending works in the comfort of their homes.
The selection of locally published e-books in the “Pop-up e-Book” page of the HKPL website (www.hkpl.gov.hk/en/collections/pop-up-e-book.html) is updated quarterly. Members of the public can experience the convenience and joy of e-reading with book titles from areas of literature, fiction, lifestyle, children’s books and others, without the requirement of logging into a library account.
The HKPL provides over 550 000 e-books and 80 e-databases. Members of the public can log in to their library accounts to read online or download content to computers and mobile devices for e-reading. Hong Kong residents who have never applied for library cards or HKPL e-accounts can visit the HKPL’s website to apply for e-accounts and enjoy immediate access to the diverse e-resources.
Please visit the HKPL’s booth at the fair or visit www.hkpl.gov.hk/en/e-resources/index.html to know more about the e-resources. More latest information of the HKPL is also available at the “Reading is Joyful” Facebook page (www.facebook.com/readingisjoyful) and Instagram page (www.instagram.com/readingisjoyful).
Source: Hong Kong Government special administrative region – 4
A spokesperson for the Security Bureau said today (July 16) that following the publication of the Dangerous Drugs Ordinance (Amendment of First Schedule) (No. 2) Order 2025 (DDO Order) in the Gazette on Friday (July 18), (a) all analogues of etomidate; and (b) another six substances, will be listed as dangerous drugs under the law.
The DDO Order will take effect upon its gazettal on July 18, 2025. The DDO Order is subject to the negative vetting procedure of the Legislative Council. Details including the justifications of the legislative proposal could be found from the brief for the Legislative Council issued today at the Annex.
The DDO Order would impose control on the following substances by placing them under the First Schedule to the Dangerous Drugs Ordinance (DDO) (Cap. 134):
(1) all analogues of etomidate; and
(2) six substances, namely, (i) N-Pyrrolidino protonitazene; (ii) N-Pyrrolidino metonitazene; (iii) N-Piperidinyl etonitazene; (iv) N-Desethyl isotonitazene; (v) hexahydro derivatives of cannabinol and their 3-alkyl homologues (including hexahydrocannabinol (HHC)); and (vi) carisoprodol.
The listing of the six substances in sub-paragraph (2) above is based on the latest international control regime. These six substances are not related to the “space oil drug”.
The spokesperson said, “Illegal use of etomidate and its analogues are addictive and would seriously damage one’s health. Recent scientific analysis has shown that certain analogues of etomidate may potentially be abused. The Government is determined to safeguard the public and so we are taking a pre-emptive step to strengthen the control of all etomidate analogues. From July 18, all etomidate analogues, including but not limited to isopropoxate, metomidate, and propoxate, will become dangerous drugs.” Under the strict control of the DDO, trafficking and manufacturing of these substances are liable to a maximum penalty of life imprisonment and a fine of $5 million. Possession and consumption of these substances in contravention of the DDO will be subject to a maximum penalty of seven years’ imprisonment and a fine of $1 million.
“Beyond legislation and law enforcement, the Government has launched a preventive education and publicity strategy against the ‘space oil drug’. The Government will continue to adopt targeted and innovative strategies to combat drug-related harm in partnership with the community,” the spokesperson said.
The spokesperson added, “The amendment aims to deter any potential trafficking and abuse of these dangerous drugs. This will help fortify Hong Kong’s defence against drugs.”
Source: Hong Kong Government special administrative region – 4
Following is a question by Dr the Hon Dennis Lam and a reply by the Secretary for Security, Mr Tang Ping-keung, in the Legislative Council today (July 16):
Question:
It has been reported that the number of Mainland visitors to Hong Kong in April this year grew by 13 per cent year-on-year. In response to my question in January last year, the Government indicated that it would maintain close liaison with Mainland authorities regarding the extension of operating hours at boundary control points (BCPs) during major festive periods. Subsequently, the Government also indicated that it would further review whether immigration clearance hours at certain BCPs on weekdays would be extended. On managing passenger flow at land BCPs, will the Government inform this Council:
(1) given that several large-scale concerts have been held on the same day in recent months, resulting in large crowds of visitors crossing the border via the Lok Ma Chau Control Point after the events, with the flow of people continuing into the early hours, whether the Government will consider extending immigration clearance hours at the Lo Wu Control Point until 2am the following day on days when large-scale concerts take place, and correspondingly extending the service hours of the MTR East Rail Line, so as to enhance the travel experience for visitors coming to Hong Kong to attend concerts;
(2) whether it will expeditiously discuss with Mainland authorities the extension of immigration clearance hours at the Heung Yuen Wai Control Point and the Lok Ma Chau Spur Line Control Point; and
(3) given that the passenger flow at the Heung Yuen Wai Control Point has exceeded its design capacity by more than double on both weekdays and holidays, whether the Government has considered introducing long-term measures to manage passenger flow, such as installing additional Automated Immigration Clearance (e-Channel) services, so as to increase their number to a level comparable with that of the Mainland counterpart?
Reply:
President,
With the increasing cross-boundary passenger flow between Guangdong and Hong Kong, exchanges at the community level have also intensified. In addition to the popularity of travelling to the Mainland during weekends or long holidays among Hong Kong residents, we are also pleased to observe a sustained increase in the number of Mainland visitors to Hong Kong. In the first half of this year, of the around 23.6 million inbound passenger trips to Hong Kong, Mainland visitors accounted for over 70 per cent, that is around 17.8 million, representing a year-on-year increase of 10 per cent. Many of these visitors came to Hong Kong to attend international entertainment and sports events. In view of the growing demand for clearance services, the Hong Kong Special Administrative Region Government has been closely monitoring the operation of the boundary control points (BCPs) and proactively enhancing the clearance capacity to facilitate the two-way flow of people between Hong Kong and the Mainland.
In consultation with the Transport and Logistics Bureau and the Culture, Sports and Tourism Bureau, a reply to the questions raised by Dr the Hon Dennis Lam is as follows:
(1) and (2) To enhance the experience of both residents and visitors attending large-scale concerts, relevant Government departments and organisations will discuss the detailed arrangements for each large-scale concert, including assessment and deployment of manpower resources, formulation and implementation of plans for crowd control, information dissemination, traffic diversion and control point arrangements etc based on factors such as the number of attendees, nature, ending time and ticketing situations of the concerts.
Drawing on past operational experiences, relevant departments will make advance planning for large-scale concerts, including pre-assessing the cross-boundary passenger traffic and making corresponding arrangements with a view to effectively managing the passengers departing through land BCPs following large-scale concerts. For example, the Immigration Department (ImmD) will deploy manpower as appropriate to strengthen services based on the estimated passenger traffic. The Transport Department (TD) will co-ordinate in advance with the MTR Corporation, as well as local and cross-boundary public transport operators, to increase service frequency based on the projected passenger flow. Additionally, co-ordination will be undertaken with concert organisers to disseminate cross-boundary traffic information in advance via social media platforms, as well as inside the venues on the day of the concerts. Relevant departments will also monitor the real-time situations at various BCPs, make flexible deployment of manpower to operate additional clearance counters and channels, and maintain close liaison with relevant Mainland port authorities through the established port hotlines and real-time notification mechanism to ensure smooth operation of the BCPs.
Following the end of large-scale evening concerts, cross-boundary passengers may undergo immigration clearance via the Lo Wu Control Point, Shenzhen Bay Port, Lok Ma Chau/Huanggang (LMC/HG) Port and Hong Kong-Zhuhai-Macao Bridge (HZMB) Hong Kong Port. For the LMC/HG Port, it is observed that most cross-boundary passengers begin arriving approximately 45 minutes after the end of large-scale concerts, with the northbound passenger flow generally dispersed within 1.5 hours. According to recent observations, although cross-boundary passenger flow at relevant BCPs has increased following large-scale concerts, operations have remained largely smooth and in order. Overall speaking, the existing services at the BCPs are able to meet with the passenger demand.
The extension of operating hours of clearance services involves the operation of the ports on both Mainland and Hong Kong sides, and careful consideration has to be given to a host of factors, including the actual needs, effective utilisation of resources of both places, manpower arrangements and ancillary transport services. On the basis of the 24-hour passenger clearance services currently provided at the LMC/HG Port and the HZMB Hong Kong Port, we will continue to closely monitor the demand for passenger clearance services and, having regard to actual needs, liaise with the relevant Mainland authorities on extending the operating hours of the passenger clearance services at respective BCPs when necessary.
(3) As the first control point adopting the design of “direct access to people and vehicles”, the Heung Yuen Wai (HYW) BCP has been well received by the public since the commissioning of passenger clearance services in February 2023. As at June this year, the daily average cross-boundary passenger traffic at the HYW BCP was about 78 000 passenger trips, and during weekends and holidays, the daily average exceeded 91 000 passenger trips, which was three times of its design flow.
Relevant departments have been taking various measures, including flexible deployment of manpower, optimisation of workflow and effective use of information technology, to enhance the handling capacity and efficiency of the HYW BCP. In June last year, the ImmD converted some of the traditional counters in the passenger arrival hall of the HYW BCP, thereby increasing the number of e-Channels from 14 to 18 and expanding the number of traditional counters from 9 to 12.
In response to the continued growth in passenger traffic, the ImmD is now carrying out enhancement works at the passenger departure hall of the HYW BCP. Upon completion, the number of e-Channels will be increased from 14 to 18. During the construction period, four temporary counters have been set up in the passenger departure hall to minimise the impact of the works. We are also exploring the possibility of further increasing the number of e-Channels and traditional counters.
Lastly, I appeal to both visitors and residents to pay attention to the information released by the Government on various platforms. They are suggested to check in advance the relevant websites, mobile applications and mini programmes of the ImmD and the TD, as well as those of the Shenzhen and Zhuhai authorities, so as to understand the clearance situations at various BCPs and to avoid making their journeys during peak hours to save waiting time. We will also work with relevant departments to explore further enhancements to the online dissemination of information of BCPs, with a view to facilitating early journey planning by the public.
Source: Hong Kong Government special administrative region – 4
Following is a question by Professor the Hon Chan Wing-kwong and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (July 16):
Question:
Regarding the registration of proprietary Chinese medicines (“pCms”) and the import and export of Chinese herbal medicines, will the Government inform this Council:
(1) of the respective quantities and total values of imported and exported Chinese herbal medicines in each of the past five years;
(2) of the following information on the applications for registration of pCms received by the Chinese Medicines Board under the Chinese Medicine Council of Hong Kong in each of the past five years: (i) the number of applications, (ii) the number of cases in which the Certificate of registration of pCms (the Certificate) was issued, (iii) the number of cases in which the Certificate was not issued, and (iv) among such cases, the main reasons for rejecting the applications for registration;
(3) given that the National Medical Products Administration and the Guangdong Provincial Medical Products Administration respectively promulgated the notice regarding the streamlining of approval procedures for Hong Kong and Macao registered traditional pCms for oral use in January this year and the notice regarding the streamlining of approval procedures for Hong Kong and Macao registered traditional pCms for external use in August 2021, so as to streamline the approval procedures for Hong Kong pCms on the Mainland, whether the Government knows the following information on the applications for registration and selling of pCms on the Mainland submitted by holders of traditional pCms for oral and external use in Hong Kong through the above measures since August 2021: (i) the number of applications, (ii) the number of approved applications, and (iii) the number of types of pCms involved in the approved applications;
(4) whether it knows the registration and selling status of Hong Kong pCms in overseas countries; and
(5) of the measures put in place by the authorities to assist Hong Kong Chinese medicine traders in making full use of the advantages of Hong Kong’s trade, testing and certification, and registration systems, etc to actively expand their business on the Mainland and overseas, so as to promote the development of the Chinese medicine industry, thereby developing Hong Kong into a bridgehead for promoting the internationalisation of Chinese medicine?
Reply:
President,
In consultation with the Census and Statistics Department and the Department of Health, the consolidated reply is provided by the Health Bureau as follows:
According to the statistics from the Census and Statistics Department, the quantity and value of imports and total exports of Chinese herbal medicines (Chms) (Note 1) of Hong Kong during the period of 2020 to 2024 are tabulated as follows:
| Year | Imports | Total exports | ||
| Quantity (kg) |
Value ($ million) |
Quantity (kg) |
Value ($ million) |
|
| 2020 | 16 815 982 | 2,930.6 | 3 681 447 | 733.8 |
| 2021 | 17 849 891 | 2,745.6 | 3 619 227 | 709.0 |
| 2022 | 12 878 024 | 2,193.1 | 3 531 117 | 785.4 |
| 2023 | 12 677 674 | 3,287.2 | 6 646 149 | 704.4 |
| 2024 | 12 182 088 | 3,489.8 | 2 959 551 | 692.8 |
The figures indicate that the value and quantity of imports and total exports of Chms of Hong Kong have exhibited a downward trend over the past five years, with a cumulative drop of nearly 28 per cent and 20 per cent in volume of imports and total exports respectively. The Chinese medicines (CMs) industry relayed that such downward trend is mainly attributable to changes in global procurement practice of Chms, as purchasers prefer sourcing Chms directly from places of origin to ensure stable supply and reduce cost, thus affecting the volume of intermediary trade in Hong Kong. In addition, rising costs of Chms may have led to reduced local demand, thereby impacting the overall transaction quantity in the Chms market.
Regarding registration of proprietary Chinese medicines (pCm), under the Chinese Medicine Ordinance (Cap. 549), all pCm must be registered with the Chinese Medicines Board (CMB) under the Chinese Medicine Council of Hong Kong (CMCHK) before they can be sold, imported or possessed in Hong Kong. For a pCm to be registered, it must fulfill the stringent safety, quality and efficacy requirements set out by CMB. According to records, during the period of 2020 to 2024, annual figures received by the CMB under the CMCHK related to pCm registration applications, and the number of cases granted or not granted for a “Certificate of Registration of a pCm” (HKC) are tabulated below:
| Number of cases (Year) | Total | |||||
| 2020 | 2021 | 2022 | 2023 | 2024 | ||
| New applications for a HKC | 24 | 95 | 137 | 266 | 96 | 618 |
| Cases granted for a HKC (Note 2) (Note 3) | 390 | 800 | 810 | 835 | 888 | 3 723 |
| Cases not granted for a HKC (Note 2) (Note 3) | 174 | 234 | 149 | 131 | 75 | 763 |
The main reasons for refusal of registration applications and the number of associated cases are tabulated below:
| Number of cases (Year) | Total | |||||
| 2020 | 2021 | 2022 | 2023 | 2024 | ||
| Failure to submit the required documents, information, samples, and/or other materials specified by the CMB for the evaluation of the pCm registration application; and/or failure to meet the safety, quality, and efficacy requirements for pCm registration as stipulated by CMB | 103 | 103 | 75 | 57 | 19 | 357 |
| Withdrawal of application by the applicant | 64 | 98 | 45 | 44 | 23 | 274 |
| Non-renewal renounce by the HKC holder, or renewal application not approved by CMB | 7 | 33 | 29 | 30 | 33 | 132 |
According to the official website of the National Medical Products Administration, as of June 30, 2025, a total of 16 Hong Kong-registered traditional pCms for external use have been approved for marketing in the Mainland through the streamlined approval procedure. Currently, no Hong Kong- and Macao- registered traditional pCms for oral use has been registered in the Mainland through the streamlined approval procedure. Regarding registration and marketing data for Hong Kong-registered pCms in overseas countries, the Department of Health does not maintain relevant records.
The Government has all along been promoting the internationalisation of Chinese medicine (CM) and developing Hong Kong into a bridgehead for the internationalisation of CM through various initiatives. The permanent premises of the Government Chinese Medicines Testing Institute (GCMTI) is expected to be commissioned in phases starting from the end of this year. The GCMTI will continue to promote the standardisation and internationalisation of CMs and strengthen the quality control of CMs industry on its products through technology transfer. By leveraging Hong Kong’s strong reputation in the Mainland and overseas, and by establishing the brand image and standards of CMs in Hong Kong, the GCMTI promotes internationalisation of CM.
Regarding regulation, with the conclusion of the transitional registration system for pCm on June 30, 2025, all pCms sold in Hong Kong must hold valid formal registration (i.e. HKC). This milestone marks a new era in the regulatory regime of CM in Hong Kong, signifying that all pCms sold in Hong Kong have strictly complied with the three core registration requirements, namely safety, quality and efficacy, and fully satisfied the requirements of the Chinese Medicine Ordinance in respect of packaging and labelling. The full implementation of the pCm registration system not solely enhances the protection of public health, but also significantly strengthens international confidence in regulatory regime for CMs in Hong Kong. This would facilitate local registered pCms to go global, and consolidate the strategic position of Hong Kong as an essential hub for the internationalisation of CM.
In addition, the Government also encourages CMs traders to make good use of the Chinese Medicine Development Fund (CMDF) and other trade supporting measures. To align with the national policy on streamlining the approval procedures for Hong Kong- and Macao- registered traditional pCms for external use, the CMDF launched the Guangdong-Hong Kong-Macao Greater Bay Area pCm Industry Development Support Scheme (A5 Scheme) in February 2024 to assist Hong Kong pCm manufacturers or wholesalers to explore the Mainland market. To date, a total of 12 applications have been approved. The Health Bureau will further expand the scope of the A5 Scheme in a timely manner in light of the latest policy directives of extending the scope of the streamlined approval procedures to pCms for oral use. In parallel, various platforms also provide resources and support to the industry to strengthen brand promotion and business development, including the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), the SME Export Marketing Fund, and participation in the International Conference of the Modernization of Chinese Medicine and Health Products, which is jointly organised by the Hong Kong Trade Development Council and the industry, with a view to expanding their markets outside Hong Kong, strengthening international exchanges, and exploring co-operative trade opportunities.
The Government will continue to fully leverage the role of Hong Kong as a gateway connecting the world, and further strengthen the role of Hong Kong as a bridgehead for internationalisation of CM, thereby promoting the high-quality and high-standard development of CM in Hong Kong on all fronts.
Note 1: Chms refers to dried or processed forms of herbal medicine specified in Schedule 1 or Schedule 2 of the Chinese Medicine Ordinance.
Note 2：Including new applications for a HKC, conversion cases from a “Notice of confirmation of transitional registration of pCm” to a HKC, and renewal cases for a HKC.
Note 3：The actual processing time for a pCm registration application is subject to the completeness of documentation submitted by the applicant, the complexity of different application categories, and the current caseload of the CMCHK Secretariat. Depending on the submission time and circumstances of each application, the processing of an application may extend beyond the calendar year of initial submission.
Source: Hong Kong Government special administrative region – 4
Following is a question by the Hon Chan Hoi-yan and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (July 16):
Question:
It has been reported that several medical incidents involving the subsequent modification of medical records have previously occurred in public hospitals, sparking controversy (e.g. a medical incident at Queen Mary Hospital in 2020 where a girl was suspected to have gone into a vegetative state due to delayed blood transfusion, which involved doctors modifying the medical records after surgery, and the family considered that the relevant contents had a critical impact on understanding the incident’s circumstances). There are views that under the existing mechanism, there is no effective procedure to ensure the necessity and legitimacy of modifying medical records, which lacks protection for both healthcare personnel and patients. In this connection, will the Government inform this Council:
(1) whether it knows, among the complaints received by the Hospital Authority (HA) in the past five years, the respective numbers of complaints involving the procedures for compiling medical records, the accuracy of the contents of records and the subsequent modification of the contents of medical records;
(2) whether it knows if HA has currently formulated relevant guidelines on the procedures and conditions for healthcare personnel to compile medical records and modify their contents; if HA has, of the details, and whether it has plans to improve such guidelines;
(3) whether it knows, with respect to modifications made by healthcare personnel to the contents of the complied medical records, if HA currently has a mechanism in place to verify the accuracy of the modified contents; if HA has, of the details; if not, the reasons for that and the difficulties involved;
(4) as there are views pointing out that in the past, a single doctor was responsible for recording medical procedures and confirming all surgical steps in some surgeries, which might affect the accuracy of the records, whether the Government knows if HA will consider amending the relevant procedures to require two or more healthcare personnel to be responsible for recording and confirming, so as to avoid unnecessary disputes; if HA will, of the details; if not, the reasons for that; and
(5) whether it knows if HA will consider introducing different tools to record surgical procedures (e.g. making audio or video recordings with patients’ consent) to protect both healthcare personnel and patients and reduce disputes; if HA will, of the details; if not, the reasons for that?
Reply:
President,
Having consulted the Hospital Authority (HA), our consolidated reply to the question raised by the Hon Chan Hoi-yan is as follows:
Healthcare personnel must comply with the relevant guidelines issued by their respective professional bodies, such as the Code of Professional Conduct issued by the Medical Council of Hong Kong. Besides, for the compilation and amendment of the medical records, healthcare personnel should also follow the requirements set forth in the HA’s Clinical Data Policy Manual and Manual of Good Practices in Medical Records Management.
When compiling medical records, healthcare personnel, including doctors, must always uphold their professional ethics and are responsible for maintaining systematic, true, adequate, clear, and contemporaneous medical records. Given that healthcare personnel must prioritise the patient’s clinical condition during treatments like surgeries, detailed real-time documentation may not always be feasible. To ensure the accuracy of medical records, healthcare personnel may from time to time need to compile, amend or supplement medical records subsequently. The HA has also in place mechanism for subsequent amendment of medical records. In cases where relevant medical records should be amended or supplemented with details, the electronic medical record system will automatically log the time and specifics of all updates, while preserving the original records to ensure transparency and traceability of all amendments.
The HA recognises the importance of accurately documenting surgical procedures to uphold patient safety and ensure transparency in healthcare. Currently, medical records are primarily compiled by the attending doctor based on the actual situation, and should be in line with the HA’s clinical data policies and pertinent specialty guidelines. Subsequently, responsible healthcare personnel would upload these records to the clinical management system following verification and provision of electronic signature.
In fact, the HA’s practice of requiring the responsible healthcare personnel to compile and verify medical records is consistent with the standard practice in the medical sector (including professionals in the private sector). Comparing to the approach commonly adopted in the sector, the HA’s current arrangements for managing medical records and recording subsequent amendments via the electronic clinical management system ensures a higher level of transparency and traceability.
The HA is also proactively enhancing healthcare quality by, inter alia, incorporating medical equipment with recording capabilities and upgrading the electronic medical record system to facilitate maintaining medical image records. In instances where it is practically necessary (e.g., for clinical, educational, or research purposes) and practicable, the HA may record surgical procedures for future reference upon obtaining patient consent. Such arrangements must adhere strictly to patient privacy policies and data protection regulations, while ensuring that the recorded materials are utilised solely for specified purposes.
Over the past five years, the number of complaints received by public hospitals concerning the issuance or content of medical records/reports/medical certificates is tabulated as follows:
| Year 2020-21 | Year 2021-22 | Year 2022-23 | Year 2023-24 | Year 2024-25 |
| 27 | 37 | 79 | 41 | 41 |
The HA does not maintain breakdown of complaints related to the medical record compilation procedures, the accuracy of record content, or subsequent amendments to medical records.
Source: Hong Kong Government special administrative region – 4
​Following is a question by the Hon Chan Yung and a written reply by the Secretary for Home and Youth Affairs, Miss Alice Mak, in the Legislative Council today (July 16):
Question:
The Secretary for Home and Youth Affairs pointed out during a media interview last month that the District Councils, “the three district committees” (i.e. the Area Committees, the District Fight Crime Committees and the District Fire Safety Committees) and the District Services and Community Care Teams (Care Teams) are the troika of district governance, with clear divisions of work and high levels of collaboration. In this connection, will the Government inform this Council:
(1) how it will continue to strengthen co-operation among the aforesaid three parties;
(2) given that the Secretary for Home and Youth Affairs mentioned in the aforesaid interview that the scope of work of the Care Teams is under review, of the current progress of the relevant work; and
(3) whether it will, by drawing on the district governance experiences of the Mainland and Singapore, continue to enhance support in terms of systems, policies and resources, so as to provide more care services for the communities and residents (such as establishing government centres in districts with single-window services from various government departments)?
Reply:
President,
With regards to the member’s question, our reply is as follows:
(1) Under the improved district governance system, the District Councils (DCs) play the role of complementing and supporting the Government, assisting the Government to gauge public opinions and local sentiments, implement policies and measures, and respond to public aspirations, as well as promoting community involvement activities. The “three district committees” (i.e. the Area Committees, the District Fight Crime Committees and the District Fire Safety Committees) offer advice to the Government according to their respective purviews (e.g. fire prevention, combat crime, etc), and help organise community activities. The District Services and Community Care Teams (Care Teams) are Government-led service teams working in sub-districts to provide people with a wide range of caring and support services, and assist in handling incidents and emergencies. District Officers, as DC Chairmen and Commanders of Care Teams, are responsible for leading the “troika” to collaborate with each other, achieve synergy and provide services to people in need.
The “troika” are highly integrated. Since April 2024, the Government appointed all incumbent DC members to be members of the “three district committees” with a view to strengthening the connection and collaboration between both sides. DC members also often work with Care Teams to organise various district activities to strengthen community cohesion and allow caring services to reach the community. Each District Office has also established a mechanism to swiftly mobilise and co-ordinate members of the “troika” to assist in handling incidents and emergencies within the district. For example, for the recent drinking water incidents at Queens’ Hill Estate and Shan Lai Court, members of the North DC, members of the “three district committees” and Care Teams conducted over 1 500 home visits over a weekend, set up street booths at each key location to provide residents with the latest water information, and register residents’ requests for assistance and make referrals.
The Home and Youth Affairs Bureau, the Home Affairs Department and District Offices will continue to enhance co-ordination of the DCs, the “three district committees”, Care Teams and other district organisations and groups to collaborate with the Government. We will also keep under review the actual operational experiences and listen to the views of different sectors to continuously improve the collaboration mechanism, so as to enhance the efficacy of district governance.
(2) and (3) Since the full launch of 452 Care Teams in 18 districts in the third quarter of 2023, Care Teams have been actively engaging and serving residents in the sub-districts. In addition to the swift mobilisation for incidents and emergency responses as mentioned above and caring for the needs of affected individuals, Care Teams also provide caring services to residents in the districts, including visiting or contacting elderly households and other households in need (e.g. households in subdivided flats and chronic patients, etc), establishing connections with them and providing relevant service information, assisting them in applying and setting up appointments for public services. Care Teams also offer home or other support services to those in need (e.g. basic home repairs and cleansing). As at end June 2025, Care Teams have visited about 530 000 elderly households and other households in need, provided about 76 000 times of basic home or other support services, and organised about 38 000 district-level activities, such as free Chinese medicine consultations, vaccination services, mental well-being support programmes, national security and civic education activities. In terms of promoting government policies, Care Teams have been proactively assisting the Government in promoting various policies, such as distributing promotional leaflets for the Department of Health to disseminate messages about disease prevention to the public, collaborating with district Police Community Relations Office to disseminate messages relating to fraud prevention. Besides, Care Teams in 18 districts also participate in the Social Welfare Department’s District Services and Community Care Teams – Scheme on Supporting Elderly and Carers. Through visits or contact with singleton/doubleton elderly households, and carers of elderly persons and persons with disabilities, Care Teams would help identify needy cases and refer them to relevant social welfare units for follow up. They will also assist in referring eligible elderly persons and persons with disabilities to install and use emergency alarm systems.
The first term of the service agreements for Care Teams in 18 districts will be concluding in September to October this year. With a view to improving the effectiveness of Care Teams’ work in the next term, we are reviewing various aspects of Care Teams. The Government adheres to the principle of “people-oriented and local circumstances suited” when planning and promoting work in districts. Hong Kong has a highly dense population and a diverse community structure. Each district has different demographics, geographical environments, social facilities and residents’ needs. Therefore, while we may draw reference from the governance experience of Mainland China and Singapore, we shall fully take into account the uniqueness of each district in Hong Kong and flexibly adapt the service models in accordance with local conditions and needs.
As announced in 2024 Policy Address, the Government will regularise Care Teams, and increase funding amount by 50 per cent in the next term of service in support of their work. Building on the established district networks and the foundation of the caring works, Care Teams will continue to strengthen and further extend their services at the district level through the effective use of the additional resources in the next term of service. Looking ahead, we will continue to strengthen the collaboration mechanism among the DCs, the “three district committees” and Care Teams – the “troika” – to comprehensively enhance service effectiveness and continuously improve people’s sense of well-being and fulfilment.