Category: Asia Pacific

MIL-OSI Africa: Merck Foundation marks World ART (Assisted Reproductive Technology) Day 2025 by providing 716 scholarships of Embryology, Fertility and Reproductive care in 41 countries in Africa and Asia
Source: APO – Report:
- Merck Foundation has made history by training the first local Embryologists and Reproductive & Fertility Experts in many countries such as The Gambia, Liberia, Burundi, Guinea, Chad, Niger, Sierra Leone, Malawi, and Congo. Moreover, supported training for the staff of First Public IVF Centers in Rwanda, Burundi, Ethiopia, Niger, Bangladesh, and Myanmar.
- Merck Foundation launched “More Than a Mother Animation Film” that raises awareness about breaking infertility stigma, infertility prevention and male infertility, watch here: https://apo-opa.co/44PGUEB
Merck Foundation (www.Merck-Foundation.com), the philanthropic arm of Merck KGaA Germany, marks ‘World ART (Assisted Reproductive Technology) Day 2025’ together with African and Asian First Ladies, who are also the Ambassadors of “Merck Foundation More Than a Mother” Campaign, by building and advancing fertility care capacity in Africa and Asia.

Senator, Dr. Rasha Kelej, CEO of Merck Foundation and President of “More Than a Mother” emphasized, “At Merck Foundation we mark World Assisted Reproductive Technology Day by building Fertility and Reproductive Care capacity and empowering infertile women by improving their access to information, change of mindset and quality & equitable fertility care across Africa & Asia as part of our “More than a Mother” campaign.

I am very proud to share that we have provided till today 716 scholarships of Embryology, Fertility and Sexual & Reproductive care to young doctors from 41 countries in Africa and Asia to be the local Embryologists, Fertility & Reproductive care experts in their countries. Moreover, many of our Alumni were trained to be the first local experts in their countries where they never had even a single local embryologist or fertility specialist before our program such as; The Gambia, Burundi, Guinea, Chad, Niger, Sierra Leone, Liberia, Malawi, Congo , Mozambique and more.

Together with African First Ladies, and other important partners, we are making history and reshaping the landscape of fertility & Reproductive care across Africa and beyond”, added Dr. Kelej.

Merck Foundation “More Than a Mother” is a powerful campaign that defines interventions to build quality and equitable Reproductive and Fertility Care Capacity, Break Infertility Stigma and Raise Awareness about Infertility Prevention and Male Infertility.

Merck Foundation has provided 2280 scholarships for doctors from 52 countries in 44 critical and underserved medical specialties.

“To give an overview, out of our total 716 scholarships for Fertility and Reproductive care, we have provided more than 324 Scholarships for clinical and practical training to Fertility Specialists and Embryologists, and more than 392 Scholarships for PG Diploma and Master Degree in Sexual and Reproductive Medicine, Clinical Psychiatry, Women’s Health, Biotechnology of Human Assisted Reproduction & Embryology, Urology, Laparoscopic Surgical skills and Family Medicine to doctors from 41 countries across Africa and Asia. We are proud of this achievement”, added Dr. Rasha Kelej.

According to WHO data, more than 180 million couples in developing countries – that is 1 in every 4 couple, suffer from infertility. In many cultures in Africa, infertility is a huge stigma. Women are solely blamed for failing to conceive and the social stigma of childlessness, especially for women leads to isolation and stigmatization and results in discrimination and ostracism. This mostly also leads to divorce or physical or psychological violence. As a part of “More Than a Mother” Campaign, Merck Foundation has launched many initiatives to break this stigma and create a culture shift.

Merck Foundation has also been empowering childless and infertile women through their “Empowering Berna” initiative under their “More Than a Mother” movement. This initiative helps women who cannot be treated for infertility anymore by helping them get trained to establish small businesses so that they can be independent and rebuild their lives. Through ‘Empowering Berna’, the lives of many infertile women have been transformed in many African countries like Kenya, Uganda, Nigeria, Central African Republic, Niger, Malawi, and many more.

“It’s all about giving every woman the respect and the help she deserves to lead a fulfilling life, with or without a child,” added Dr. Kelej.

Moreover, Merck Foundation has trained more than 3700 media representatives from more than 35 countries to raise community awareness and break the stigma around infertility and infertile and childless women.

Merck Foundation in partnership with Africa’s First Ladies, has also launched ‘More Than Mother’ Children’s storybook to emphasize strong family values of love and respect from a young age which will reflect on eliminating the stigma of infertility and the resulted domestic violence in the future. The storybooks have been localized for each country and in three languages, English, French and Portuguese to better connect with the young readers. The book has also been adapted to an animation film.

Watch More Than a Mother Animation Film here: https://apo-opa.co/44PGUEB

Merck Foundation’s pan African TV program “Our Africa”, that is conceptualized, produced, directed, and co-hosted by Senator, Dr. Rasha Kelej, CEO of Merck Foundation and features African Fashion Designers, Singers, and prominent experts from various domains with the aim to raise awareness and create a culture shift across Africa, has many episodes dedicated to raise awareness about infertility and breaking infertility stigma.

Watch the episodes here:

Episode 3: https://apo-opa.co/44OQc3I

Episode 5: https://apo-opa.co/4f6JZDz

Episode 10: https://apo-opa.co/4lgc7Wx

Merck Foundation has also released about 30 songs, many of these songs have been created with the aim to break the infertility stigma, as a part of their “More Than a Mother” campaign. Listen to some of the songs here:
1. Watch, share & subscribe to the ‘Plus qu’une MERE’ composed and sung by Ms. Lucky-Lou, the daughter of The President and The First Lady of Burundi: https://apo-opa.co/46YM2aD
2. Watch, share & subscribe to the “More Than a Mother” song by Cwesi Oteng and Adina from Ghana: https://apo-opa.co/3H5X2bP
3. Watch, share & subscribe to the “More Than a Mother” song by Zambian Soul Singer Wezi: https://apo-opa.co/4f3DIIM
4. Watch, share & subscribe to the “More Than a Mother” song by Sunita Daffeh from the Gambia: https://apo-opa.co/471MBAx
Listen to all “More than a Mother” songs here:

https://apo-opa.co/4mai2wX

“To address this important issue of breaking infertility stigma and also a wide range of other social issues, we annually launch Merck Foundation ‘More Than a Mother’ Awards in partnership with African First Ladies. I would also like to invite the African Community of Media, Fashion, Filmmaking, and Musicians, students, and potential talents in these fields to apply for the awards this year by sharing their creative work on submit@merck-foundation.com”, concluded Senator, Dr. Rasha Kelej.

– on behalf of Merck Foundation.

Addtional Images:
https://apo-opa.co/4f3DDEY

Contact:
Mehak Handa
Community Awareness Program Manager
Phone: +91 9310087613/ +91 9319606669
Email: mehak.handa@external.merckgroup.com

Join the conversation on our social media platforms below and let your voice be heard:
Facebook: https://apo-opa.co/4f6SOgJ
X: https://apo-opa.co/4f9yYRV
YouTube: https://apo-opa.co/4lIrMyD
Instagram: https://apo-opa.co/4mgf4XZ
Threads: https://apo-opa.co/3IEKOaL
Flickr: https://apo-opa.co/4lIrQ1l
Website: www.Merck-Foundation.com
Download Merck Foundation App: https://apo-opa.co/3GR2fEp

About Merck Foundation:
The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality & equitable healthcare solutions in underserved communities, building healthcare and scientific research capacity and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website. Please visit www.Merck-Foundation.com to read more. Follow the social media of Merck Foundation: Facebook (https://apo-opa.co/4f6SOgJ), X (https://apo-opa.co/4f9yYRV), Instagram (https://apo-opa.co/4mgf4XZ), YouTube (https://apo-opa.co/4lIrMyD), Threads (https://apo-opa.co/3IEKOaL) and Flickr (https://apo-opa.co/4lIrQ1l).

Media files

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MIL OSI Africa –
July 26, 2025
MIL-OSI USA: July 25th, 2025 Heinrich Announces Committee Passage of Over $69 Million for New Mexico
US Senate News:
Source: United States Senator for New Mexico Martin Heinrich

Investments Heinrich championed support homeownership & homebuilding, rental & homelessness assistance, Tribal health & education, Southwest Border Regional Commission, & more

WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.) announced the bipartisan Senate Appropriations Committee passage of the Fiscal Year 2026 (FY26) Interior, Environment and Related Agencies; and Transportation, Housing, and Urban Development, and Related Agencies (THUD) Appropriations Bills. With Committee approval of these bills, Heinrich secured support for over $65 million for New Mexico, including $52 million in Congressionally Directed Spending for 39 local projects between these bills and their House-companions.

“While these Appropriations bills aren’t perfect, they include resources and investments I negotiated for New Mexico that will fund Tribal health care and education, help Tribal law enforcement officers solve and reduce violent crime, and continue funding for the Institute of American Indian Arts for the 2026-2027 school year,” said Heinrich, a member of the Senate Appropriations Committee. “This legislation will help over 11,000 families in New Mexico afford rent, build new housing, and invest in border communities through the Southwest Border Regional Commission. Additionally, the bill protects the Amtrak Southwest Chief train service in New Mexico, restores waterfowl habitat, and builds on my work to clean up abandoned hardrock mines. As a member of the Senate Appropriations Committee, I will always fight for investments that put New Mexico first.”

Additionally, Heinrich offered an amendment to require the U.S. Department of the Interior and the U.S. Forest Service to hire and maintain a minimum number of Full Time Employees in order to manage wildfire preparedness, suppression, and other mission-critical support, in the FY26 Interior, Environment and Related Agencies Appropriations Bill. Heinrich’s amendment would have also required the National Park Service to hire and maintain a minimum number of Full Time Employees for the operation of national park units, including administrative services. Despite Heinrich’s attempt to include the amendment in the Appropriations bill, the amendment was rejected by Republicans on the Committee.

Heinrich is a member of the Senate Appropriations Committee and the Subcommittee on Interior, Environment, and Related Agencies.

Next, the two bills passed out of the Appropriations Committee will be considered by the full United States Senate.

Interior, Environment and Related Agencies Key Points and Highlights

Congressionally Directed Spending

Heinrich successfully included $7.1 million in investments for the following ten local projects in the bill:
- $1,075,000 for the City of Truth or Consequences to replace aged and damaged waterlines.
- $1,000,000 for Zuni Pueblo to make improvements to their drinking water system.
- $1,000,000 for Pueblo of Tesuque to remove Siberian elm trees to restore the Rio Tesuque bosque to its natural vegetation.
- $1,000,000 for the Village of Questa to construct a well house to prevent contamination of their municipal well.
- $1,000,000 for Albuquerque Bernalillo County Water Utility Authority to conduct wastewater system improvements in Carnuel.
- $700,000 for the Mescalero Apache Tribe to restore coniferous forest and promote aspen stand growth along the Rio Ruidoso to prepare for the reintroduction of beavers, a culturally significant species.
- $525,000 for Taos Pueblo to purchase wildfire preparedness equipment.
- $500,000 for Eight Northern Indian Pueblos Council for a Caja del Rio Ethnographic Study.
- $150,000 for the Desert Tortoise Council to work on Bolson tortoise recovery efforts.
- $150,000 for the Bureau of Land Management to work with existing partners to replace barbed-wire fences with wildlife-friendly fences on the Rio Grande del Norte National Monument.
Heinrich and U.S. Senator Ben Ray Luján (D-N.M.) successfully included $3.39 million for the following three projects:
- $2,090,000 for the City of Rio Rancho to expand their aquifer reinjection system.
- $800,000 for the Enchanted Forest Mutual Domestic Water Consumers Association to develop a new water source pump house and appurtenances and to replace distribution lines.
- $500,000 for the New Mexico Department of Cultural Affairs to make water system improvements at the Fort Selden Historic Site.
Heinrich also successfully worked with his colleagues in the N.M. Delegation to include $2.18 million for the following two projects in the House-companion bill:
- $1,092,000 for the Town of Bernalillo will rehabilitate their current wastewater facilities.
- $1,092,000 for the City of Belen to rehabilitate their wastewater treatment plant.
Heinrich also successfully included three amendments into the Manager’s Package. These include:
1. An amendment for a U.S. Government Accountability Office (GAO) study comparing the per-patient funding levels for health care services provided by the Department of Veterans Affairs (VA) and the Indian Health Service (IHS). Additionally, the study would analyze potential recruitment and retainment strategies utilized by the VA that could be extended to IHS.
2. An amendment ensuring that the Bureau of Indian Education (BIE) is included in reference to the reauthorization of the Legacy Restoration Fund to address deferred maintenance.
3. An amendment for a Fish and Wildlife Service report on staffing levels and positions at National Wildlife Refuge System units and complexes.
Safeguard Tribal Objects of Patrimony (STOP) Act Implementation: Heinrich successfully included $500,000 to implement the Safeguard Tribal Objects of Patrimony (STOP) Act, a bipartisan law that Heinrich championed and passed in 2022 to prohibit the exporting of sacred Native American items and increase penalties for stealing and illegally trafficking Tribal cultural patrimony. Representing the first dedicated funding for this program, it would be used to halt the trade of culturally significant items and repatriate stolen pieces to the Tribal communities where they belong. Heinrich first introduced the STOP Act in 2016 after he helped halt the auction of a shield, stolen from the Pueblo of Acoma. Heinrich played a role in the effort to bring the shield home to Acoma by working with Governors Kurt Riley and Brian Vallo to call for its return.

Tribal Programs: Heinrich fought for and successfully included $13,482,000 to the Institute of American Indian and Alaska Native Culture and Arts Development (IAIA). After the administration threatened to withhold IAIA’s funding earlier this year, Heinrich secured the release of FY 2025 funds earlier this month. This bill will ensure continued investment for IAIA through FY26, supporting its mission to advance Indigenous arts, culture, and education for future generations.

Heinrich also successfully included funding to protect several Tribal programs, including $23,750,000 for Tribal Historic Preservation Offices, $2,658,289,000 for Indian Health Services (IHS) Hospitals and Health Clinics, and funding for IHS Facilities and Construction. He also protected funding for Bureau of Indian Affairs Tribal Law Enforcement and included report language to ensure the continuation of the Tribal law enforcement training program in New Mexico.

Abandoned Hardrock Mine Reclamation Program: Heinrich successfully included continued funding for the Abandoned Hardrock Mine Reclamation Program, after championing the creation of the program in the Infrastructure Law. Hardrock mines and mining features are related to the extraction of metals like copper, gold, silver, and uranium. When not reclaimed, many hardrock mines pose a hazard to public health and the environment. This funding will be used to clean up federal, state, Tribal, and private land and water resources affected by abandoned hardrock mines.

Southwest Ecological Research Institutes: Heinrich fought for and successfully maintained funding for the Southwest Ecological Research Institutes (SWERIs). Last month Heinrich pressed the U.S. Forest Chief on the Administration’s plan entirely to cut funding for the program in FY26. SWERIs offer unique opportunities for dedicated research in forest science and watershed health and represent the future of science in forest management. New Mexico Highlands University houses one center along with Colorado State University and Northern Arizona University. This funding would ensure the continuation of valuable research in southwestern forest and fire management.

Conservation: Heinrich successfully protected funding for the North American Wetlands Conservation Fund, which leverages private dollars to restore waterfowl habitat across the country. Senator Heinrich led the reauthorization of this fund last congress. He also protected core wildlife management and science capabilities at the Fish and Wildlife Service and the U.S. Geological Survey from the steep cuts proposed by the Trump administration.

Transportation, Housing, and Urban Development, and Related Agencies (THUD) Key Points and Highlights

Congressionally Directed Spending

Heinrich successfully included $17.1 million in investments for the following 11 local projects in the bill:
- $4,000,000 for Homewise to help moderate-income, first-time homebuyers purchase entry-level homes.
- $2,300,000 for the City of Socorro to replace aged and damaged waterlines.
- $2,073,000 for the City of Raton to upgrade its municipal airport infrastructure.
- $1,500,000 for the Boys & Girls Club of San Juan County to renovate a community center.
- $1,500,000 for DreamTree Project to complete the final phase of renovations to the Navigating Emergency Support Together (NEST) building and purchase land for on-site permanent supportive housing.
- $1,000,000 Serenity Mesa Youth Recovery Center to expand their facilities to support increased substance use crisis stabilization, treatment, and housing for adolescents and young adults.
- $850,000 for the Albuquerque Housing Authority will invest in necessary upgrades at public housing properties.
- $692,000 for the Northern Rio Grande National Heritage Area to conduct an affordable housing pilot project.
- $440,000 for Deming Silver Linings to provide emergency temporary housing for unhoused individuals.
- $200,000 for Mesilla Valley Community of Hope to support individuals and families experiencing poverty and homelessness by providing affordable housing and wraparound services.
Heinrich and U.S. Senator Ben Ray Luján (D-N.M.) successfully included $16.3 million for the following nine projects:
- $3,000,000 for Youth Development, Inc. for an early childhood development center.
- $3,000,000 for the Agri-Cultura Cooperative Network and La Cosecha Community Supported Agriculture to create a Food Hub at the Sacred Roots farm site to create economic development opportunity in the local food system, provide education to students and community members, and increase access to healthy foods.
- $2,500,000 for Santa Fe County to develop a Permanent Supportive Housing project designed to meet the urgent needs of the region’s unhoused population.
- $1,800,000 for the Town of Mountainair to rebuild, repave, and upgrade approximately two miles of downtown Mountainair’s roadways.
- $1,600,000 for the City of Raton to conduct an interchange alignment study as part of the Ports-to-Plains Corridor Interstate Planning process.
- $1,500,000 for Tierra Del Sol Housing Corporation to complete the first phase of construction for an affordable housing project in Vado, New Mexico.
- $1,210,000 for the City of Bloomfield to plan, design, and construct the expansion of East Blanco Boulevard in Bloomfield.
- $1,000,000 for the Pueblo of Acoma to construct new single-family homes for low-to-moderate income families on the Housing Authority’s waiting list.
- $700,000 for Cuidando Los Niños of Albuquerque to expand its facility to house early childhood education and family wraparound services.
Heinrich also successfully worked with his colleagues in the N.M. Delegation to include $8.4 million for the following four projects in the House-companion bill:
- $2,900,000 for the Pueblo of Acoma to repair housing for senior community members and provide ADA accommodations.
- $2,000,000 for the City of Albuquerque Health, Housing and Homelessness Department to improve security and accessibility at the city’s largest homeless shelter.
- $2,000,000 for the City of Albuquerque to establish a modular Shelter Stability site for seniors.
- $1,512,000 for Jemez Pueblo to demolish hazardous buildings within the Pueblo.
Rental Assistance: Heinrich successfully secured increased funding for the Tenant-Based Rental Assistance (Housing Choice Vouchers) and Project-Based Rental Assistance, despite the administration’s attempts to completely defund both programs. The Housing Choice Voucher (HCV) Program helps over 11,000 families in New Mexico afford rent. Heinrich also secured language urging HUD to expand resources to train public housing staff on how to use housing choice vouchers to make homeownership an attainable goal for residents of public housing.

Tribal Programs: Heinrich successfully included a $25 million investment for Tribal Transportation Program High Priority Projects, a set-aside that provides funds to Tribes or a governmental subdivision of a Tribe whose annual allocation of funding received under the Tribal Transportation Program is insufficient to complete the highest priority project of the Tribe. Heinrich secured an increase in funding for Tribal housing programs. Heinrich also secured a legislative proposal that would make certain home loans on Tribal lands easier to keep if homeowners are delinquent on payments.

Southwest Border Regional Commission: Heinrich successfully included a $5 million investment in the Southwest Border Regional Commission (SBRC) for transportation infrastructure planning to support supply chain connectivity and economic development in southern New Mexico and along the southern border.

Homelessness Assistance: Heinrich successfully secured an increase in funding for grant programs that address homelessness through emergency shelter, transitional and supportive housing, rapid re-housing, rental assistance and prevention, and supportive services. Heinrich successfully pushed back against the Trump administration’s attempts to curtail homelessness assistance funding by making grant match requirements overly burdensome for New Mexican service providers.

Homebuilding and Homeownership: Heinrich secured funding for the HOME Investment Partnership Program (HOME), a critical program that helps New Mexicans purchase or rehabilitate homes. The Trump administration also sought to cut all funding for this program. In New Mexico, HOME also provides gap funding for Low-Income Housing Tax Credit projects, which increases the supply of affordable rental units.

Amtrak Southwest Chief: Heinrich secured language that protects existing Amtrak Southwest Chief train service in New Mexico from cuts and closure.
MIL OSI USA News –
July 26, 2025
India proud to be most trusted friend of Maldives: PM Modi

Source: Government of India

Source: Government of India (4)

India takes great pride in being the Maldives’ “most trusted friend,” Prime Minister Narendra Modi said on Friday, reaffirming New Delhi’s deep-rooted partnership with the Indian Ocean nation. Speaking alongside Maldivian President Mohamed Muizzu during a joint press statement in Male, PM Modi emphasised the Maldives’ central role in India’s Neighbourhood First policy and its MAHASAGAR vision for maritime cooperation.

The remarks came as PM Modi visited the Maldives as the Guest of Honour for the country’s 60th Independence Day celebrations. Congratulating the people of Maldives on the historic milestone, he thanked President Muizzu for the warm invitation and recalled the long-standing ties between the two nations.

“This year, India and Maldives are also celebrating 60 years of their diplomatic relations. But, the roots of our relations are older than history and as deep as the sea,” PM Modi said. He highlighted the release of commemorative stamps featuring traditional boats of both countries as a symbolic reflection of shared heritage and neighbourly ties.

PM Modi underscored India’s unwavering support to the Maldives in times of crisis. “Be it a natural disaster or a pandemic, India has always stood with Maldives as a first responder. From providing essential commodities to supporting economic recovery post-COVID, our relationship is built on friendship first,” he said.

Stressing on mutual trust in the defence and security partnership, PM Modi noted the inauguration of the Maldives Defence Ministry building as a concrete symbol of that trust. A giant portrait of PM Modi displayed on the building marked the occasion.

To bolster economic ties, PM Modi announced a new Line of Credit of USD 565 million to the Maldives. He said both nations are now seeing results from the vision shared in October last year during President Muizzu’s visit to India, including significant progress in infrastructure and housing projects.

He cited key projects such as 4,000 social housing units built with Indian assistance, the Greater Male Connectivity Project, Addu Road Development Project, and the redevelopment of Hanimaadhoo International Airport as transformative initiatives that would boost connectivity and economic growth across the archipelago.

“With the ferry system soon in place, island connectivity will become faster and easier. We’ll measure distances by ferry time, not GPS coordinates,” PM Modi said.

In the economic sphere, the Prime Minister said efforts are underway to finalise a Bilateral Investment Treaty and to explore a Free Trade Agreement. He added that direct Rupee-Rufiyaa trade through a local currency settlement system will strengthen bilateral trade, while the growing popularity of UPI in Maldives will support tourism and retail sectors.

On regional and global issues, PM Modi reaffirmed India’s commitment to maritime security through the Colombo Security Conclave and highlighted climate change as a shared concern. “We will promote renewable energy and share India’s expertise with the Maldives,” he said.

PM Modi’s visit, his third to the Maldives, also marks the first by any head of state or government since President Muizzu took office.

-IANS

July 26, 2025
MIL-OSI: Bitget Wallet Joins Malaysia Blockchain Week as Web3 Gains Ground in the Multicultural Market

Source: GlobeNewswire (MIL-OSI)

SAN SALVADOR, El Salvador, July 25, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial crypto wallet, joined founders, builders, and investors at Malaysia Blockchain Week to explore the country’s growing role in shaping Southeast Asia’s Web3 future. With over 3,300 participants from 20 countries gathering in Kuala Lumpur, the event marked a high point in Malaysia’s ongoing effort to position itself as a nexus of blockchain innovation and financial inclusion.

Bitget Wallet’s Head of Growth, Will Wu, spoke at two panels during the week, including a main stage discussion on community-building and the Web3 Infra Day, where he was joined by representatives from Aptos, Polkadot, and Manta Network. The conversation focused on simplifying fragmented blockchain experiences, improving interoperability, and designing tools that lower barriers to entry for everyday users. “In Malaysia, you see communities where crypto is not just investment — it’s part of how people save, send, and increasingly, spend,” Wu said. “The momentum here is being driven not just by capital, but by local builders creating products that reflect how people actually live and transact.”

While Singapore often dominates the regional narrative, Malaysia is quietly building a complementary path — one rooted in grassroots adoption, multicultural participation, and a younger, mobile-first demographic. The country’s multi-ethnic population, spanning Malay, Chinese, Indian, and indigenous communities, offers a uniquely diverse testing ground for Web3 use cases that range from retail payments to creative economy tools.

Bitget Wallet also joined Blockchain & AI Summit hosted by Pushpendra Singh as a supporting partner during the week. The summit drew over 300 builders for focused discussions on real-world adoption, decentralized identity, and the convergence of AI and Web3. Bitget Wallet’s involvement reflected its ongoing engagement with Southeast Asia’s grassroots developer and creator communities. In a setting that prioritized pragmatic use cases, the event reinforced a key theme of the week: Malaysia’s strength lies in its culturally rooted, multilingual builder ecosystem — one ready to localize blockchain for everyday use.

Bitget Wallet’s participation underscored this shift from speculation to infrastructure. The wallet has leaned into utility-focused tools — from stablecoin payments to token discovery — that resonate with local behaviors. As Malaysia continues to carve out its place on the global Web3 map, its value may lie less in being the next crypto capital, and more in showing how diverse communities can make decentralized technology part of ordinary life.

For more information, visit the Bitget Wallet official channels.

About Bitget Wallet
Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.

For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

For media inquiries, contact media.web3@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7bbbc4fe-79ed-4819-bedd-8919feaff3df

The MIL Network –

July 26, 2025
MIL-OSI: Bitget Wallet Joins Malaysia Blockchain Week as Web3 Gains Ground in the Multicultural Market

Source: GlobeNewswire (MIL-OSI)

SAN SALVADOR, El Salvador, July 25, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial crypto wallet, joined founders, builders, and investors at Malaysia Blockchain Week to explore the country’s growing role in shaping Southeast Asia’s Web3 future. With over 3,300 participants from 20 countries gathering in Kuala Lumpur, the event marked a high point in Malaysia’s ongoing effort to position itself as a nexus of blockchain innovation and financial inclusion.

Bitget Wallet’s Head of Growth, Will Wu, spoke at two panels during the week, including a main stage discussion on community-building and the Web3 Infra Day, where he was joined by representatives from Aptos, Polkadot, and Manta Network. The conversation focused on simplifying fragmented blockchain experiences, improving interoperability, and designing tools that lower barriers to entry for everyday users. “In Malaysia, you see communities where crypto is not just investment — it’s part of how people save, send, and increasingly, spend,” Wu said. “The momentum here is being driven not just by capital, but by local builders creating products that reflect how people actually live and transact.”

While Singapore often dominates the regional narrative, Malaysia is quietly building a complementary path — one rooted in grassroots adoption, multicultural participation, and a younger, mobile-first demographic. The country’s multi-ethnic population, spanning Malay, Chinese, Indian, and indigenous communities, offers a uniquely diverse testing ground for Web3 use cases that range from retail payments to creative economy tools.

Bitget Wallet also joined Blockchain & AI Summit hosted by Pushpendra Singh as a supporting partner during the week. The summit drew over 300 builders for focused discussions on real-world adoption, decentralized identity, and the convergence of AI and Web3. Bitget Wallet’s involvement reflected its ongoing engagement with Southeast Asia’s grassroots developer and creator communities. In a setting that prioritized pragmatic use cases, the event reinforced a key theme of the week: Malaysia’s strength lies in its culturally rooted, multilingual builder ecosystem — one ready to localize blockchain for everyday use.

Bitget Wallet’s participation underscored this shift from speculation to infrastructure. The wallet has leaned into utility-focused tools — from stablecoin payments to token discovery — that resonate with local behaviors. As Malaysia continues to carve out its place on the global Web3 map, its value may lie less in being the next crypto capital, and more in showing how diverse communities can make decentralized technology part of ordinary life.

For more information, visit the Bitget Wallet official channels.

About Bitget Wallet
Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.

For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

For media inquiries, contact media.web3@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7bbbc4fe-79ed-4819-bedd-8919feaff3df

The MIL Network –

July 26, 2025
MIL-OSI China: Cambodia-Thailand border clashes still going on, as thousands of civilians flee homes

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

Armed clashes between Cambodian and Thai soldiers over disputed border areas are still going on, as thousands of Cambodian villagers have been evacuated to safer areas, Cambodian officials said on Friday afternoon.

Cambodian defense ministry’s undersecretary of state and spokesperson Lieutenant General Maly Socheata said the Thai army attacked on seven locations in Cambodian provinces of Oddar Meanchey and Preah Vihear.

“During their attacks on Cambodian territory, the Thai side had used artillery, F-16 fighter jets, tanks, bombs-carrying drones, and cluster bombs,” she said in a press briefing.

Socheata said the Thai side had attacked on Cambodian villages and a school in Oddar Meanchey province, leaving civilians wounded, including the elderly and children, and their properties damaged.

She added that a lot of local residents have fled their homes for safer grounds.

Armed clashes between Cambodian and Thai soldiers broke out on Thursday morning, with both sides accusing each other of opening gunfire first.

Oddar Meanchey deputy governor Met Meas Pheakdey told Xinhua over the telephone that at least one villager was killed and five others were wounded on Thursday when the Thai side fired artillery shells into Oddar Meanchey province.

He said that as of Friday noon, more than 3,400 families living near the border in Oddar Meanchey province have been evacuated to a safe refuge, as 260 schools in the province have been closed.

For Preah Vihear province, about 20,000 villagers have been evacuated to safer areas, local media Khmer Times reported, quoting Preah Vihear Provincial Governor Kim Rithy.

Meanwhile, Cambodian foreign ministry’s secretary of state and spokesperson Chum Sounry said that at the request of Cambodian Prime Minister Hun Manet, the United Nations Security Council will convene an emergency meeting at 3:00 p.m. on Friday in New York (2:00 a.m. Saturday in Cambodia) to address the border clashes between Cambodia and Thailand.

MIL OSI China News –

July 26, 2025
MIL-OSI China: Laos, Cuba reaffirm commitment to deepen ties

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

Laos and Cuba on Friday reaffirmed their commitment to strengthening and further developing the traditional friendship and cooperation between the two states and peoples, Lao News Agency reported.

Officials from the two countries held a political consultative meeting here on Friday, which was hailed by both sides as a positive step toward strengthening bilateral ties.

Discussions centered on enhancing political cooperation, exchanging views and information, and reviewing past achievements to guide future collaboration. Both sides reaffirmed the importance of mutual support and solidarity that has long defined their relationship.

The two sides agreed to continue implementing existing agreements and promoting cooperation in key sectors such as economy, health, education, agriculture, sports, and culture. They also discussed expanding collaboration into new and mutually beneficial areas, and enhancing trade and investment opportunities.

Meanwhile, both parties shared updates on domestic developments and exchanged views on regional and international issues of mutual interest.

MIL OSI China News –

July 26, 2025
MIL-OSI China: Xinjiang’s foreign trade hits record high in H1

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

Northwest China’s Xinjiang Uygur Autonomous Region saw its foreign trade expand 28 percent year on year to a record 280.8 billion yuan (about 39.3 billion U.S. dollars) in the first half of 2025, local customs authorities said on Friday.

During the period, the region’s trade growth outpaced the national average by over 20 percentage points.

According to Urumqi Customs, Xinjiang’s monthly foreign trade has exceeded 50 billion yuan for four consecutive months since March, with its volume in June reaching 53.17 billion yuan.

As the Belt and Road Initiative (BRI) continues to forge ahead, Xinjiang has committed to building itself into an important corridor linking Asia and Europe, and to serving as a gateway for China’s opening-up efforts in the western regions.

Xinjiang has continued to expand its trade network, trading with 222 countries and regions during the first six months of the year. Trade with countries participating in the BRI rose 17.9 percent year on year, accounting for more than 80 percent of the region’s total foreign trade.

The private sector has emerged as a primary growth engine for Xinjiang’s foreign trade, with the region’s private enterprises reporting a 29.5 percent increase in imports and exports, accounting for 94.3 percent of its total trade volume.

Li Qinghua, deputy director of Urumqi Customs, said the customs office will further optimize customs clearance procedures and promote innovation in supervision models to facilitate cross-border trade.

Xinjiang has set an annual GDP growth target of approximately 6 percent for 2025, after its GDP topped 2 trillion yuan last year, according to the region’s government work report.

In 2025, Xinjiang will advance high-quality development, deepen reform and expand high-level opening-up, the report said.

MIL OSI China News –

July 26, 2025
MIL-OSI China: Popularity of Chinese-made EVs grows in Indonesia

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

Laurensius Ramadhan, a 26-year-old Indonesian employee who commutes daily by car, is now considering switching to electric vehicles (EVs), citing both economic and technological advantages.

Every working day, Ramadhan drives over 50 km round-trip from his home in Bogor, West Java province, to his workplace in Jakarta.

On Thursday, he visited Indonesia’s largest automotive exhibition, the GAIKINDO Indonesia International Auto Show (GIIAS), held at the ICE BSD in Serpong, Banten province. The annual event runs from July 24 to Aug. 3.

“I was thrilled,” Ramadhan said, excited about the wealth of information he gained on EVs at the expo. He expressed particular interest in electric vehicles made by Chinese automakers.

Prominent Chinese brands participating in the show include BYD, Denza, Wuling, Chery, GAC AION, Geely, GWM, Jaecoo, Jetour, and XPeng.

According to Ramadhan, Chinese EVs stand out for their attractive designs, solid build quality, and, most importantly, affordable pricing. He formed this opinion after driving Chinese EVs owned by his company.

“I have really enjoyed driving the car. It feels so smooth. Now I’m considering buying one,” he told Xinhua.

Ramadhan is especially interested in the BYD M6 and the newly launched Atto 1, known as the Seagull or Dolphin Mini in China. Currently, he owns two internal combustion engine vehicles, but the lower running costs of EVs, due to cheaper electricity and reduced maintenance needs, are prompting him to consider the switch.

“I believe that choosing EVs will improve one’s efficiency in life,” he said.

Similarly, Husnul Habib, a 45-year-old visitor from Jambi province in Sumatra, came to GIIAS specifically to learn more about EVs, especially those made by BYD. After watching numerous BYD reviews on YouTube, he wanted to experience them in person.

“I’m here to find the answers to why more and more BYD cars are seen in major cities. Then I came to check out their new launch,” he said.

As one of the world’s leading EV manufacturers, BYD offers a range of luxury sedans and SUVs in Indonesia. Its combination of cutting-edge technology, sleek design, and competitive pricing continues to attract local buyers. On Wednesday, BYD officially launched its Atto 1 model at the auto show.

A BYD car has long been on Habib’s wish list. However, he is waiting until an official BYD dealership opens in his hometown of Muaro Bungo regency, around six hours from Jambi’s provincial capital.

“I’m not from a major city. For me, it’s best to have a BYD car when a BYD authorized dealer opens there,” he said.

In January, Eagle Zhao, president director of PT BYD Motor Indonesia, announced that the company aims to establish 80 dealerships across the Indonesian archipelago by the end of this year. Currently, BYD outlets operate in major cities such as Jakarta, Bandung, Surabaya, Medan, Pekanbaru, and Pontianak.

For Habib, having a dealership nearby would make it much easier to maintain and repair the vehicle. He also expressed hope that the Indonesian government would ramp up efforts to expand EV charging infrastructure nationwide.

According to the Association of Indonesia Automotive Industries (GAIKINDO), national electric car wholesales, measured by factory-to-dealer sales, reached 35,846 units between January and June this year.

During this period, BYD emerged as the EV market leader in Indonesia, with 14,092 units sold, followed by its premium brand Denza with 5,733 units, Wuling with 5,170 units, and Chery with 4,611 units.

The association has set an ambitious EV sales target of 60,000 units by the end of 2025, aiming to accelerate EV adoption.

Kukuh Kumara, secretary general of GAIKINDO, told Xinhua in a previous interview that Chinese firms have played a pivotal role in bringing technology, capital and global market access to Indonesia, particularly in EV batteries and supply chain integration.

“Our ultimate goal is to develop Indonesia’s own auto brands, local factories and indigenous technical capabilities. But at this stage, partnerships with countries experienced in EV development, especially China, are crucial,” he said.

MIL OSI China News –

July 26, 2025
MIL-OSI Asia-Pac: Bernadette Linn ends Beijing visit

Source: Hong Kong Information Services

Secretary for Development Bernadette Linn concluded her visit to Beijing today by attending a seminar and visiting urban renewal projects.

In the morning, Ms Linn led the study tour on national water infrastructure, culture and technology to attend a seminar.

She expressed her heartfelt gratitude to the State Council’s Hong Kong & Macao Affairs Office, the Ministry of Water Resources and the Department of Water Resources of Guangdong Province for making meticulous arrangements for the tour, enabling the younger generation and the engineering community to gain first-hand understanding of the country’s tremendous achievements in water infrastructure, deepen their appreciation of the country’s rich history and culture, and learn about the rapid technological advancement and modernisation of the country.

She firmly believed that the tour had strengthened the patriotic sentiments of Hong Kong’s younger generation and enhanced the sense of mission among engineering professionals as builders of the country.

In the afternoon, Ms Linn visited urban renewal projects in Beijing to learn about the integration of the old and the new through the redevelopment of the local district of Zhonghai Daji Alley in Xicheng District; the enhancement of facilities in the old district and revitalisation of old buildings in Yaojiang Hutong; and the enhancement of the environment of the old district by improving the facades and spatial layout of old buildings in Xidan Beidajie.

She also viewed an in-situ redevelopment and relocation project at No. 8, Huabichang Hutong, to learn about the adoption of the concrete Modular Integrated Construction method, which significantly reduced the construction period of the project to three months. It was implemented by the property owners with subsidies and personal investment.

MIL OSI Asia Pacific News –

July 26, 2025
MIL-OSI Russia: Chinese Foreign Minister Meets ASEAN Secretary General

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

BEIJING, July 25 (Xinhua) — Chinese Foreign Minister Wang Yi met with ASEAN Secretary-General Kao Kim Horn in Beijing on Friday.

Wang Yi, also a member of the Politburo of the CPC Central Committee, said China has always given priority to ASEAN in its neighbourhood diplomacy and supports ASEAN’s aspiration to play a more active role in international and regional affairs.

Guided by the outcome of the Central Meeting on Neighboring Countries held in April this year, China is willing to work with ASEAN member states to build an even closer China-ASEAN community with a shared future, he said.

Under the current circumstances, China and ASEAN should focus on cooperation in three key areas, Wang said.

First, the two sides should work together to uphold free trade and the multilateral trading system. Wang Yi noted that as the major forces of the Global South, China and ASEAN should strengthen solidarity and cooperation, oppose unilateralism, uphold WTO rules, and ensure the credibility and integrity of the China-ASEAN Free Trade Area and the Regional Comprehensive Economic Partnership (RCEP).

Second, both sides should fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea, building a new narrative of peace, friendship and cooperation in the South China Sea, Wang said.

Third, the two sides should work together to maintain regional peace and stability. “The recent border clashes between Cambodia and Thailand, which resulted in casualties, are regrettable and worrying,” Wang said, adding that China, as a mutual friend and neighbor of both countries, is willing to maintain an impartial stance and continue to play a constructive role in de-escalating tensions.

Kao Kim Horn, for his part, expressed gratitude to China for its firm support for ASEAN’s centrality in regional cooperation and the building of the ASEAN Community.

ASEAN hopes to use the 5th anniversary of the establishment of the ASEAN-China Comprehensive Strategic Partnership in 2026 as an opportunity to strengthen strategic alignment and deepen practical cooperation in all fields with China, he said.

Speaking about the tension on the border between Cambodia and Thailand these days, Kao Kim Horn thanked China for its active efforts to promote reconciliation and peace talks. -0-

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

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MIL OSI Russia News –

July 26, 2025

MIL-OSI USA: Press Release: FDIC Publishes Enforcement Orders for June 2025

Source: US Federal Deposit Insurance Corporation FDIC

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today published a list of orders of administrative enforcement actions taken against banks and individuals in June 2025. There are no administrative hearings scheduled for August 2025.

Order Terminating Consent Order:

Citizens State Bank, Ganado, Texas

Order Terminating Order to Pay Civil Money Penalty:

CNB Bank, Carlsbad, New Mexico

Orders to Pay Civil Money Penalties:

Royal Bank, Elroy, Washington
Tioga-Franklin Savings Bank, Philadelphia, Pennsylvania

Orders of Prohibition from Further Participation:

One American Bank, Centerville, South Dakoka
Watermark Bank, Oklahoma City, Oklahoma

Orders of Termination of Insurance:

Community Bank, Joseph, Oregon
First Financial Northwest Bank, Renton, Washington
Mid-Southern Savings Bank, FSB, Salem, Indiana
Republic Bank of Arizona, Phoenix, Arizona
Security State Bank, Centralia, Washington

Orders Terminating Orders Relating to Section 19 of the FDI Act (Section 19):

Six Orders Terminating Orders Issued Pursuant to Section 19

Notices of Charges:

Truist Bank, Charlotte, NC

# # #

MEDIA CONTACT:
LaJuan Williams-Young
lwilliams-young@FDIC.gov

The FDIC does not send unsolicited email. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe.

MIL OSI USA News –

July 26, 2025

Over 7.23 crore Bihar electors participated in SIR process, 99.8% coverage achieved: ECI

Source: Government of India

Source: Government of India (4)

Bihar has achieved a major milestone in the State Intensive Revision (SIR) of electoral rolls, with 7.23 crore electors already covered in the process. This figure accounts for 99.8% of the state’s total electorate, indicating widespread participation and confidence in the electoral system.

The forms submitted by these electors have been digitised and their names will be included in the Draft Electoral Roll set to be published on August 1, 2025. The digitisation of forms and the BLO reports for the remaining electors is also underway and is expected to be completed before the publication deadline.

As part of the exercise, the Chief Electoral Officer (CEO) of Bihar shared lists with all 12 recognised political parties in the state on July 20. These lists include details of electors who are deceased, have migrated permanently, or have not submitted their forms. The purpose is to ensure transparency and allow political parties to verify and rectify any discrepancies before the draft is published.

Since the launch of the SIR process on June 24, 2025, Booth Level Officers (BLOs) and Booth Level Agents (BLAs) have provided crucial updates. They reported the names of approximately 22 lakh deceased electors, around 7 lakh electors registered at multiple locations, and nearly 35 lakh electors who have either migrated permanently or could not be traced. Enumeration forms for about 1.2 lakh electors are still pending collection.

The successful execution of the first phase of SIR has been credited to the coordinated efforts of the state’s electoral machinery. This includes the CEO of Bihar, 38 District Election Officers (DEOs), 243 Electoral Registration Officers (EROs), nearly 3,000 Assistant EROs (AEROs), BLOs deployed across 77,895 polling booths, and the support of all 12 political parties. The contribution of their 38 district presidents and 1.60 lakh nominated BLAs has also been instrumental in the process.

According to the SIR guidelines, the next phase will begin on August 1 and continue until September 1, 2025. During this period, electors or political parties may file claims and objections with the EROs. This includes the inclusion of eligible electors left out of the draft roll or the removal of any ineligible entries.

July 26, 2025
MIL-OSI Security: South Bend Man Sentenced to 100 Months in Prison

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

SOUTH BEND – Terrence Dockery, 33 years old, of South Bend, Indiana, was sentenced by United States District Court Judge Cristal C. Brisco after pleading guilty to being a convicted felon in possession of a firearm, announced Acting United States Attorney M. Scott Proctor.

Dockery was sentenced to 100 months in prison followed by 1 year of supervised release.

According to documents in the case, police conducted a traffic stop as Dockery was riding his moped on a late summer night in South Bend. Police found Dockery in possession of two guns and about 30 grams of methamphetamine. Dockery has multiple prior felony convictions, including convictions for dealing methamphetamine and arson, and as such, he is prohibited from possessing the firearm in this case.

This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives with assistance from the South Bend Police Department. The case was prosecuted by Assistant United States Attorney Joel Gabrielse.

This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

MIL Security OSI –

July 26, 2025

MIL-OSI Banking: Ms. Anuradha Thakur, Secretary, Department of Economic Affairs, nominated on RBI Central Board

Source: Reserve Bank of India

The Central Government has nominated Ms. Anuradha Thakur, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India as a Director on the Central Board of Reserve Bank of India vice Shri Ajay Seth. The nomination of Ms. Anuradha Thakur is effective from July 24, 2025 and until further orders.

(Puneet Pancholy)
Chief General Manager

Press Release: 2025-2026/789

MIL OSI Global Banks –

July 26, 2025

Why is France recognising Palestinian statehood and who else has?

Source: Government of India

Source: Government of India (4)

French President Emmanuel Macron has announced he will recognise Palestinian statehood, drawing angry rebukes from Israel and the United States and opening the door for other major nations to potentially like Britain and Canada to perhaps follow suit.

Below are some details about Macron’s announcement, driven by a rising global outcry over starvation and devastation in Gaza amid Israel’s war against Hamas militants, as well as other nations’ position on having Palestinian statehood recognised.

WHAT DID MACRON SAY?

Macron published a letter sent to Palestinian Authority President Mahmoud Abbas confirming France’s intention to press ahead with recognition and work to convince other partners to do the same. He said he would make a formal announcement at the United Nations General Assembly next month.

France is now the first major Western country to shift its diplomatic stance on a Palestinian state, after Spain, Ireland and Norway officially recognised one last year.

WHY IS THIS SIGNIFICANT?

The decision to recognise Palestinian statehood is mostly symbolic, with Israel occupying the territories where the Palestinians have long aimed to establish that state in the West Bank and the Gaza Strip with East Jerusalem as its capital.

But the move by France, which is home to Europe’s largest Jewish and Muslim communities, could fuel a movement so far dominated by smaller nations generally more critical of Israel.

It also makes Israel appear more isolated on the international stage over the war in Gaza, which is suffering from a wave of hunger that the World Health Organization’s chief said this week amounts to man-made mass starvation.

Israel says it is committed to allowing aid into Gaza but must control it to prevent it being diverted by militants. It says it has let enough food into Gaza during the war and blames Hamas for the suffering of Gaza’s 2.2 million people.

WHY DID MACRON DO THIS?

Macron had been leaning towards the move for months as part of a bid to keep the idea of a two-state solution alive, despite the pressure not to do so. He decided to do it ahead of a U.N. conference co-hosted by France and Saudi Arabia on the matter next week to try to sway other countries considering that step, or those that are wavering.

WHAT IMPACT COULD IT HAVE ON FRENCH TIES WITH ISRAEL

Ahead of Macron’s announcement, Israeli officials had spent months lobbying to prevent what some had called “a nuclear bomb” for bilateral relations.

Sources familiar with the matter say Israel’s warnings to France had ranged from scaling back intelligence-sharing to complicating Paris’ regional initiatives – even hinting at possible annexation of parts of the West Bank.

WHO COULD BE NEXT?

France’s decision may put pressure on major countries like Britain, Germany, Australia, Canada and Japan to take the same path. In the immediate term, Malta and Belgium could be the next countries within the European Union to do so.

A British cabinet minister said on Friday that Britain supports eventual recognition of a Palestinian state, but the immediate priority should be alleviating the suffering in Gaza and securing a ceasefire between Israel and Hamas.

Germany said on Friday it was not planning to recognise Palestinian statehood in the short term, rather its priority waas to make “long-overdue progress” towards a two-state solution – Israel and a Palestinian state co-existing in peace.

WHO ELSE HAS RECOGNISED PALESTINIAN STATEHOOD?

Last year, Ireland, Norway and Spain recognised a Palestinian state with its borders to be demarcated as they were prior to the 1967 Middle East war, when Israel captured the West Bank, Gaza and East Jerusalem.

However, they also recognised that those borders may change in any eventual talks to reach a final settlement, and that their decisions did not diminish their belief in Israel’s fundamental right to exist in peace and security.

About 144 of the 193 member states of the United Nations recognise Palestine as a state, including most of the global south as well as Russia, China and India. But only a handful of the 27 European Union members do so, mostly former Communist countries as well as Sweden and Cyprus.

The U.N. General Assembly approved the de facto recognition of the sovereign state of Palestine in November 2012 by upgrading its observer status at the world body to “non-member state” from “entity.”

HOW DID THE UNITED STATES, ISRAEL, AND PALESTINIANS REACT?

Israeli Prime Minister Benjamin Netanyahu condemned the decision by France, one of Israel’s closest allies and a G7 member, saying such a move “rewards terror and risks creating another Iranian proxy”.

Israeli Defence Minister Israel Katz described it as “a disgrace and a surrender to terrorism”. He added that Israel would not allow the establishment of a “Palestinian entity that would harm our security, endanger our existence”.

U.S. Secretary of State Marco Rubio said the United States “strongly rejects (Macron’s) plan to recognise a Palestinian state at the U.N. General Assembly.”

“This reckless decision only serves Hamas propaganda and sets back peace,” Rubio posted on X. “It is a slap in the face to the victims of October 7th” – a reference to Hamas’ 2023 cross-border attack on Israel that set off the Gaza war.

Thanking France, the Palestinian Authority’s Vice President Hussein Al Sheikh said Macron’s decision reflected “France’s commitment to international law and its support for the Palestinian people’s rights to self-determination and the establishment of our independent state”.

The Palestine Liberation Organization recognised Israel’s right to exist in peace at the start of the U.S.-backed peace process in 1993 that set up the Palestinian Authority in what Palestinians hoped would be a stepping stone towards statehood.

But Hamas and other Palestinian Islamist militants who have long dominated Gaza and frequently clash with Israeli forces in the West Bank reject recognition of Israel.

(Reuters)

July 26, 2025
MIL-OSI Africa: Development Minister sets out new United Kingdom (UK) approach to development at G20 meeting in South Africa
Source: APO – Report:

.
- Development Minister Baroness Chapman will reset the UK’s approach to international development at the G20 Development Meeting in South Africa today (Friday, 25 July).
- Economic development underpins the UK’s new approach, as the Minister visits a South African food producer supported by the FCDO’s development arm BII.
- The UK is supporting countries to transition from traditional aid to innovative financing for development, as the Minister visits a centre for survivors of gender-based violence funded by both the UK and the private sector.
The UK is resetting its relationship with countries in the Global South and helping countries exit the need for aid, as Baroness Chapman attends the G20 Development Ministerial Meeting in South Africa today (Friday 25 July 2025).

This follows the publication of ODA allocations earlier this week (Tuesday 22 July 2025), which indicate how the UK is going to spend its aid budget for the next year.

The UK will move from being a donor to a genuine partner and investor, ensuring every pound spent on aid delivers for the UK taxpayer and the people we support.

Economic development underpins the UK’s new approach, to help countries grow fairer, more resilient economies and ultimately exit the need for aid, in support of the government’s Plan for Change.

The Minister saw this in action yesterday (Thursday 24 July 2025) as she visited an Agristar farm which produces macadamia nuts in Mbombela, eastern South Africa. British International Investment (BII), the UK’s development finance institution, is supporting Agristar to expand – supporting jobs and growth and helping to stock British supermarket shelves.

The Minister also visited a UK supported care centre for survivors of gender-based violence in Mbombela, alongside South African Minister for Women, Youth and Persons with Disability, Sindisiwe Lydia Chikunga. The centre is supported by a multi-donor fund which has seen increased backing from South African and international private investors. The innovative funding approach has supported over 200 community-based organisations in South Africa working to prevent violence in schools and communities and provide response services for survivors of gender-based violence. This demonstrates the UK and South Africa’s shared commitment to gender equality and women’s empowerment.

By mobilising private finance and empowering partners to take charge of their own development, the UK is moving away from a paternalistic approach to aid.

Minister for Development, Baroness Chapman said:

We want to help countries move beyond aid. In South Africa, I’ve seen the impact we can have with genuine partnerships, rather than paternalism. Our work is supporting jobs and generating global economic growth – and bringing high quality South African produce to UK shops.

At the G20 in South Africa, I have one simple message: the world has changed and so must we. The UK is taking a new approach to development, responding to the needs of our partners and delivering real impact and value for money for UK taxpayers.

At the G20, the Minister is due to discuss the UK’s new approach to international development with counterparts from Egypt, India and Germany.

The Agristar farm in Mbombela, which the Minister visited yesterday, has benefitted from UK investment as part of the Just Energy Transition Partnership (JETP). BII support has enabled the macadamia nut producer to expand its operations across Africa, invest in measures to mitigate climate risks, and support nearly 400 jobs. BII is also supporting Agristar’s expansion into Malawi.

BII, which aims to make a return on its investments, has so far supported 92 companies in South Africa and over 35,000 jobs.

Its success highlights how the UK’s investment in international development is driving green growth and jobs, boosting global prosperity and stability to help create the conditions to deliver the government’s Plan for Change at home.

The Minister will also announce today a new £2 million commitment to support local agribusiness projects by partnering with South African investment funds to drive more private finance for the farming sector.

In G20 talks on tackling illicit financial flows, the Minister will highlight how money and assets siphoned away as part of criminal activity deprive lower-income countries of vital resources which could otherwise support growth and development. The Foreign Secretary is leading a campaign against illicit finance, mobilising the best UK expertise and international partnerships, so dirty money has nowhere to hide. This is also vital to deterring threats to the safety and security of Britain, as part of the government’s Plan for Change.

– on behalf of United Kingdom Foreign, Commonwealth and Development Office.

MIL OSI Africa –
July 26, 2025
MIL-OSI: Sagtec Global (NASDAQ SAGT) Achieves Key Milestone in UAE Smart Hospitality Deal; On Track for 2025 Revenue Recognition

Source: GlobeNewswire (MIL-OSI)

KUALA LUMPUR, Malaysia, July 25, 2025 (GLOBE NEWSWIRE) — Sagtec Global Limited (NASDAQ: SAGT) (“Sagtec” or the “Company”), a provider of enterprise software solutions for high-growth verticals, today announced the successful delivery of the first phase of its previously disclosed US$10 million smart hospitality contract in the United Arab Emirates (UAE), in partnership with SMD Tech – FZCO. The Company has received the first milestone payment, validating both project execution and commercial delivery.

The deal, originally announced in July 2025, is structured with over 60% of total value as multi-year recurring revenue, covering software licensing, analytics, hosting, and long-term service. The project remains on schedule for full delivery in 2025, with corresponding revenue capture anticipated within the current fiscal year.

“This milestone represents more than operational progress—it reinforces our ability to monetize large-scale SaaS contracts, generate recurring cash flow, and expand strategically in a high-growth international market,” said Kevin Ng, Chairman, Executive Director & CEO of Sagtec Global. “It reflects our disciplined execution and strong regional partnerships.”

Momentum Across Vertical SaaS Offerings

In addition to progress in the UAE, Sagtec confirms that its Speed+ Smart Ordering System, which supports a US$30 million pipeline across Southeast Asia, has now been successfully deployed to commercial end-users. Speed+ is a cloud-based solution tailored for the F&B and hospitality industries, designed to improve service efficiency and increase revenue per transaction.

These dual deployments reinforce Sagtec’s strategy to scale vertically integrated SaaS platforms across multiple industries—hospitality, F&B, and smart infrastructure—with a strong focus on monetizable outcomes.

“We are executing on multiple fronts with clear revenue visibility,” added Ng. “These wins strengthen our position ahead of our next earnings cycle and demonstrate the scalability of our recurring revenue model.”

Well-Positioned in a US$30B+ Market

With the UAE hospitality sector forecasted to reach US$37.7 billion by 2033 (IMARC Group), Sagtec’s expansion into the Middle East positions the Company at the center of a regional transformation toward smart tourism and digital-first guest experiences.

Backed by a resilient balance sheet and growing recurring revenue base, Sagtec remains focused on margin-accretive growth, product innovation, and geographic expansion to drive long-term shareholder value.

About Sagtec Global Limited

Sagtec Global is a technology company delivering customizable software solutions to the hospitality, F&B, and enterprise sectors. The Company also operates digital infrastructure businesses, data hosting & analysis services through its Malaysian Subsidiary, CL Technologies.

For more information on the Company, please log on to https://www.sagtec-global.com/.

Contact Information:

Sagtec Global Limited Contact:
Ng Chen Lok
Chairman, Executive Director & Chief Executive Officer
Telephone +6011-6217 3661
Email: info@sagtec-global.com

The MIL Network –

July 26, 2025
MIL-OSI Submissions: How bachata rose from Dominican Republic’s brothels and shantytowns to become a global sensation

Source: The Conversation – USA (2) – By Wilfredo José Burgos Matos, Adjunct Assistant Professor of Latin American and Latino Studies, Lehman College, CUNY

Once viewed by elites with disdain, bachata has become popular worldwide. Erika Santelices/AFP via Getty Images

What began as songs about heartbreak in the brothels and barrios of the Dominican Republic in the 1960s has become a worldwide sensation.

Even the Bee Gees have gotten a bachata spin. Prince Royce’s bilingual take on the 1977 hit “How Deep Is Your Love” has topped the Latin music charts this summer and proves bachata is no longer chasing the mainstream but reimagining the pop canon.

Bachata dance classes, parties and festivals have sprung up across the U.S. in recent years, everywhere from Philadelphia to Los Angeles, and Omaha, Nebraska, to Oklahoma City.

It’s easy to find abroad as well. Upcoming bachata festivals are happening in cities in Austria, Egypt, Australia and China.

Instructors teach a bachata class in Warsaw, Poland, in July 2025.
Neil Milton/SOPA Images/LightRocket via Getty Images

I’m a scholar of Dominican culture and the senior researcher for the History of Dominican Music in the U.S. project at the City University of New York’s Dominican Studies Institute. I see bachata as a revealing window into modern post-1960s Dominican history – and one that spotlights the emotional truths and everyday experiences of poor and Black Dominicans in particular.

Music from the margins

Bachata was born in the Dominican countryside and later developed in the shantytowns of Santo Domingo, the capital. In most Latin American dictionaries, the word “bachata” is loosely defined as “revelry” or “a spree.”

The distinctive sound is formed from guitars, bongos, bass and the güira – a percussion instrument also used in merengue music – and accompanied by typically romantic or bittersweet lyrics.

The music was long associated with the lower classes and Black Dominicans.

The genre’s first recording came in 1962, just over a year after Rafael Leónidas Trujillo, a brutal dictator who ruled the island for 31 years, was assassinated. Trujillo’s death marked the beginning of a new cultural and political era in the Dominican Republic, although democratic hopes were soon shattered by a military coup, civil war and a second U.S. intervention following an earlier one between 1916-1924.

Urban and middle-class Dominicans looked down on bachata as the music played in brothels and favored by poor, rural people who started to migrate to urban areas in large numbers in the 1960s. It was played almost exclusively on Radio Guarachita, a Santo Domingo station run by Radhamés Aracena, a key promoter of the genre.

Amid a country reeling from political upheaval, bachata emerged as a soundtrack to working-class survival. The guitar-based rhythms were shaped by Cuban bolero and son and Mexican ranchera music, while the lyrics chronicled daily struggles, grief and marginalization.

In most Latin American dictionaries, the word ‘bachata’ is loosely defined as ‘revelry’ or ‘a spree.’ This reflects its early development in informal social spaces where friends gathered to sing their hearts out, share drinks and escape daily hardships.
CUNY Dominican Studies Institute Library, The Deborah Pacini Hernández Bachata Music Collection

Bachata’s shifting language

In the 1960s, bachata lyrics centered on heartache and were often directed at a romantic partner.

“Understand me, you know I love only you. Don’t deny me the hope of kissing you again,” Rafael Encarnación sang in Spanish in his 1964 song “Muero Contigo,” or “I Die With You.”

By the late 1970s and early 1980s, sexual innuendos were common, adding to the genre’s low standing among Dominican elites.

“I gave you everything you ever wanted, but it was all useless because you went looking for another man,” Blas Durán sang in 1985. “I was left like the orange vendor – peeling so someone else could suck the fruit.”

To reclaim respect for bachata, some artists, such as Luis Segura and Leonardo Paniagua, in the mid-1980s began calling their music música de amargue, or “music of romantic bitterness.”

What began as a genre label gradually transformed into a sensibility. “Amargue” came to name a feeling marked by longing, loss and quiet introspection – akin to “feeling the blues” in the U.S.

American blues similarly emerged from the hardships faced by Black Americans in the South and expressed themes of sorrow, resilience and reflection.

By the 1990s, the stigma surrounding bachata began to fade, partly due to the international success of Dominican star Juan Luis Guerra and his album Bachata Rosa. The album sold more than 5 million copies worldwide by 1994, earned Guerra a Grammy Award for best tropical Latin album, and was certified platinum in the U.S.

As acceptance of the genre grew, traditional bachateros in the Dominican Republic continued releasing bachata albums. However, Dominican pop, rock and other artists also began recording bachatas – such as 1990’s “Yo Quiero Andar” by Sonia Silvestre and 1998’s “Bufeo” by Luis “El Terror” Días.

Aventura performs for a crowd in Madrid in 2024. It was the group’s first tour since their split in 2011.
Ricardo Rubio/Europa Press via Getty Images

Bachata goes mainstream

Migration to the U.S. is a pivotal chapter in Dominican history after the 1960s. The U.S. Immigration Act of 1965 functioned as a de facto immigration policy and encouraged a large-scale exodus from the Dominican Republic.

By the mid-1990s, a strong and vibrant Dominican diaspora was firmly established in New York City. The Bronx became the birthplace of Grupo Aventura, a group that revolutionized bachata by blending its traditional rhythms with urban genres such as hip-hop.

“Obsesión,” released in 2002, was an international hit.

Their music reflected the bicultural diaspora, often torn between nostalgia for their homeland and everyday challenges of urban American life. Against the backdrop of city life, bachata found a new voice that mirrored the immigrant experience. The genre shifted from a shared feeling of loss and longing to a celebration of cultural community.

In 2002, the song “Obsesión” by Aventura and featuring Judy Santos topped music charts in France, Germany, Italy, the U.S. and elsewhere. The group Aventura and, later, lead singer Romeo Santos as a solo artist sold out Madison Square Garden and Yankee Stadium, respectively.

As they rose in fame, Aventura became global ambassadors for Dominican culture and made bachata mainstream.

Puerto Rican bachatero Toby Love performs during an event held by Democratic presidential candidate Hillary Clinton on April 9, 2016, in New York City.
Andrew Renneisen via Getty Images

Global spin on bachata

Bachata’s popularity has also spread to other countries in Latin America, and especially among working-class and Afro-descendant communities in Central America that see their own realities reflected in the music.

At the same time, Dominican diasporic communities in countries such as Spain and Italy carried the genre with them, where it continued to evolve.

In Spain, for example, bachata experienced a creative transformation. By the mid-2000s, bachata sensual had emerged as a dance style influenced by zouk and tango, emphasizing smooth, body-led movements and close partner connection.

Around the same time, modern bachata also developed between Spain and New York City. This style is a departure from traditional bachata, which focuses on the box step and fast footwork, and incorporates more turns and other elements from salsa.

In 2019 bachata was added to UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity, which also lists Jamaican reggae and Mexican mariachi.

Today, bachata’s influence is truly global. International conferences dedicated to the genre attract dancers, musicians and scholars from around the world. Puerto Rican, Colombian and other artists from diverse cultural and racial backgrounds continue to nurture and reinvent bachata.

At the same time, more women, such as Andre Veloz, Judy Santos and Leslie Grace, are building careers as bachata performers and challenging a traditionally male-dominated genre.

Natti Natasha performs at an album release party for ‘En Amargue,’ her 2025 album produced by bachata icon and former Aventura singer Romeo Santos.
John Parra/WireImage via Getty Images

Bachata holds a place not only on the world stage but in the hearts of Latino, Black, Asian and many other communities in the U.S. that recognize the genre’s power to tell stories of love, loss, migration and resilience.

Wilfredo José Burgos Matos does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. How bachata rose from Dominican Republic’s brothels and shantytowns to become a global sensation – https://theconversation.com/how-bachata-rose-from-dominican-republics-brothels-and-shantytowns-to-become-a-global-sensation-260886

MIL OSI –

July 26, 2025
MIL-OSI Submissions: Trump’s push for more deportations could boost demand for foreign farmworkers with ‘guest worker’ visas

Source: The Conversation – USA (2) – By Scott Morgenstern, Professor of Political Science, University of Pittsburgh

Mexican farmworkers with H-2A visas weed a North Carolina tobacco field in 2016. Andrew Lichtenstein/Corbis via Getty Images

The U.S. has an important choice to make regarding agriculture.

It can import more people to pick crops and do other kinds of agricultural labor, it can raise wages enough to lure more U.S. citizens and immigrants with legal status to take these jobs, or it can import more food. All three options contradict key Trump administration priorities: reducing immigration, keeping prices low and importing fewer goods and services.

The big tax-and-spending bill President Donald Trump signed into law on July 4, 2025, included US$170 billion to fund the detention and deportation of those living in the U.S. without authorization. And about 1 million of them work in agriculture, accounting for more than 40% of all farmworkers.

As the detention and deportation of undocumented immigrants ramps up, one emerging solution is to replace at least some deported farmworkers with foreigners who are given special visas that allow them to help with the harvest but require them to go home after their visas expire.

Such “guest worker” programs have existed for decades, leading to today’s H-2A visa program. As of 2023, more than 310,000 foreigners, around 13% of the nation’s 2.4 million farmworkers, were employed through this program. About 90% of the foreign workers with these visas come from Mexico, and nearly all are men. The states where the largest numbers of them go are California, Florida, Georgia and Washington.

As a professor of Latin American politics and U.S.-Latin American relations, I teach my students to consider the difficult trade-offs that governments face. If the Trump administration removes a significant share of the immigrants living in the U.S. without legal permission from the agricultural labor force to try to meet its deportation goals, farm owners will have few options.

Few options available

First, farm owners could raise wages and improve working conditions enough to attract U.S. citizens and immigrants who are legal permanent residents or otherwise in the U.S. with legal status.

But many agricultural employers say they can’t find enough people to hire who can legally work – at least without higher wages and much-improved job requirements. Without any undocumented immigrant farmworkers, the prices of U.S.-sourced crops and other agricultural products would spike, creating an incentive for more food to be imported.

Second, farm owners could employ fewer people. That would require either growing different crops that require less labor or becoming more reliant on machinery to plant and harvest. But that would mean the U.S. could have to import more food. And automation for some crops is very expensive. For others, such as for berries, it’s currently impossible.

It’s also possible that some farm owners could put their land to other uses, ceasing production, but that would also necessitate more imported food.

Trump administration’s suggested fixes

U.S. Agriculture Secretary Brooke Rollins has predicted that farm owners will soon find plenty of U.S. citizens to employ.

She declared on July 8 that the new Medicaid work requirements included in the same legislative package as the immigration enforcement funds would encourage huge numbers of U.S. citizens to start working in the fields instead of losing their health insurance through that government program.

Farm trade groups say this scenario is far-fetched.

For one thing, most adults enrolled in the Medicaid program who can work already do. Many others are unable to do so due to disabilities or caregiving obligations.

Few people enrolled in Medicaid live close enough to a farm to work at one, and even those who do aren’t capable of doing farmwork. When farm owners tried putting people enrolled in a welfare program to work in the fields in the 1990s, it failed. Another experiment in the 1960s, which deployed teenagers, didn’t pan out either because the teens found the work too hard.

It seems more likely that farm owners will try to hire many more foreign farmworkers to do temporary but legal jobs through the H-2A program.

Although he has not made it an official policy, Trump seems to be moving toward this same conclusion.

In June, for example, Trump said his administration was working on “some kind of a temporary pass” for immigrants lacking authorization to be in the U.S. who are working on farms and in hotels.

Farmworkers with H-2A visas spend time in their employer-provided dormitory on April 28, 2020, in King City, Calif.
Brent Stirton/Getty Images

Established in 1952, numbers now rising quickly

The guest worker system, established in 1952 and revised significantly in 1986, has become a mainstay of U.S. agriculture because it offers important benefits to both the farm owners who need workers and the foreign workers they hire.

There is no cap on the number of potential workers. The number of H-2A visas issued is based only on how many employers request them. Farm owners may apply for visas after verifying that they are unable to locate enough workers who are U.S. citizens or present in the U.S. with authorization.

To protect U.S. workers, the government mandates that H-2A workers earn an “adverse effect wage rate.” The Labor Department sets that hourly wage, which ranges from $10.36 in Puerto Rico to about $15 in several southern states, to more than $20 in California, Alaska and Hawaii. These wages are set at relatively high levels to avoid putting downward pressure on what other U.S. workers are paid for the same jobs.

After certification, farm owners recruit workers in a foreign country who are offered a contract that includes transportation from their home country and a trip back – assuming they complete the contract.

The program provides farm owners with a short-term labor force. It guarantees the foreign workers who obtain H-2A visas relatively high wages, as well as housing in the U.S. That combination has proven increasingly popular in recent years: The annual number of H-2A visas rose to 310,700 in 2023, a more than fivefold increase since 2010.

Possible downsides

Boosting the number of agricultural guest workers would help fill some gaps in the agricultural labor force and reduce the risk of crops going unharvested. But it seems clear to me that a sudden change would pose risks for workers and farm owners alike.

Workers would be at risk because oversight of the H-2A program has historically been weak. Despite that lax track record, some unscrupulous farmers have been fined or barred from participating in the H-2A program because of unpaid wages and other abuses.

Relying even more on guest farmworkers than the U.S. does today would also swap workers who have built lives and families north of the border with people who are in the U.S. on a temporary basis. Immigration opponents are unlikely to object to this trade-off, but to immigrant rights groups, this arrangement would be cruel and unfair to workers with years of service behind them.

What’s more, the workers with guest visas can be at risk of exploitation and abuse. In 2022, the U.S. attorney for the Southern District of Georgia described conditions for H-2A workers at an onion farm the government had investigated as “modern-day slavery.”

The U.S. Government Accountability Office has researched the H-2A visa program and observed many problems it recommends be fixed.

For farm owners, the downside of ramping up guest worker programs is that it could increase costs and make production less efficient and more costly. That’s because transporting Mexican farmworkers back and forth each year is complicated and expensive. Farm groups say that compliance with H-2A visa requirements is cumbersome. It can be particularly difficult for small farms to participate in this program.

Some farm owners have objected to the costs of employing H-2A workers. Rollins has said that the Trump administration believes that the mandatory wages are too high.

To be sure, these problems aren’t limited to agriculture. Hotels, restaurants and other hospitality businesses, which rely heavily on undocumented workers, can also temporarily employ some foreigners through the H-2B visa program – which is smaller than the H-2A program, limits the number of visas issued and is available only for jobs considered seasonal.

Home health care providers and many other kinds of employers who rely on people who can’t legally work for them could also struggle. But so far, there is no temporary visa program available to help them fill those gaps.

If the U.S. does deport millions of workers, the price of tomatoes, elder care, restaurant meals and roof repairs would probably rise substantially. A vast increase in the number of guest workers is a potential but partial solution, but it would multiply problems that are inherent in these temporary visa programs.

Scott Morgenstern does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Trump’s push for more deportations could boost demand for foreign farmworkers with ‘guest worker’ visas – https://theconversation.com/trumps-push-for-more-deportations-could-boost-demand-for-foreign-farmworkers-with-guest-worker-visas-259868

MIL OSI –

July 26, 2025
MIL-OSI Russia: Kazakhstan has become the largest source of tourists in Central Asia for China’s Hainan Province

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

BEIJING, July 25 (Xinhua) — Kazakhstan has become the largest source of tourists in Central Asia for China’s island province of Hainan, according to a Hainan tourism presentation held in Astana on Wednesday.

According to the results of the first half of this year, the famous resort province of Hainan received a total of 40.2 thousand citizens of Kazakhstan, which was 41.4 percent more in annual terms. Thus, Kazakhstan entered the world’s top four sources of travelers for Hainan, according to statistics.

According to information posted on the official website of the Hainan Provincial Government, the tourism presentation in Astana introduced those present to health and wellness tourism products and demonstrated the province’s new image as an international center for tourism consumption.

The rapid development of tourism cooperation between Hainan Province and Kazakhstan is due to regular air traffic. Currently, a number of Kazakhstan airlines have launched direct flights connecting cities in Kazakhstan and Hainan Province.

Air Astana is making great efforts to promote cooperation between Kazakhstan and China in air transport. In the future, the airline plans to intensify cooperation with Hainan travel agencies and launch more flights to provide passengers with better quality services, the airline said.

The presentation is organized by the Hainan Province Department of Tourism, Culture, Radio, Television, Physical Culture and Sports. The event was held as part of the Year of China Tourism in Kazakhstan. -0-

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

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MIL OSI Russia News –

July 25, 2025
MIL-OSI Asia-Pac: Students win physics, maths medals

Source: Hong Kong Information Services

Two teams of Hong Kong students achieved outstanding results in the 55th International Physics Olympiad (IPhO 2025) and the 66th International Mathematical Olympiad (IMO 2025) by winning six gold medals, four silver and one bronze.

The IPhO 2025, hosted by France, was held from July 18 to 24, with 415 students from 89 countries or regions taking part.

The four gold medallists were Bill Fu from Inno Secondary School (Kowloon Tong), Edison Fu from Queen’s College, Lincoln Liu from Sha Tin College and Qiao Lok-hei from St Paul’s Co-educational College, while Garfield Leung from Evangel College took home silver.

Meanwhile, the IMO 2025 was held in Australia from July 10 to 20. Among the 630 participating students from 110 countries or regions, the Hong Kong team won two gold medals, three silver medals and one bronze medal.

Kwan Yung-ho from Diocesan Boys’ School and Lincoln Liu from Sha Tin College clinched the gold medal.

The silver medal went to Chan Kwan-yu and Sze Long from St Paul’s Co-educational College and Jerry Xu from Victoria Shanghai Academy, while Chong Tsz-sing from Diocesan Boys’ School bagged a bronze medal.

Secretary for Education Choi Yuk-lin congratulated the Hong Kong teams on their outstanding performance.

Ms Choi said: “The impressive results achieved by the Hong Kong teams bear testament to the concerted efforts of the Government and various stakeholders in promoting STEAM (science, technology, engineering, the arts, and mathematics) and gifted education.”

The Education Bureau will continue to strengthen the promotion of STEAM and gifted education in primary and secondary schools, and encourage the effective use of the school-based student talent pool to identify and nurture more students with talent, she added.

MIL OSI Asia Pacific News –

July 25, 2025

MIL-OSI Banking: Inclusion of “Deogiri Nagari Sahakari Bank Ltd., Chhatrapati Sambhajinagar” in the Second Schedule of the Reserve Bank of India Act, 1934

Source: Reserve Bank of India

RBI/2025-26/70
DoR.RET.REC.42/12.07.160/2025-26

July 25, 2025

All Banks,

Madam / Sir,

Inclusion of “Deogiri Nagari Sahakari Bank Ltd., Chhatrapati Sambhajinagar” in the Second Schedule of the Reserve Bank of India Act, 1934

It is advised that “Deogiri Nagari Sahakari Bank Ltd., Chhatrapati Sambhajinagar” has been included in the Second Schedule of the Reserve Bank of India Act, 1934 vide Notification CO.DOR.RAUG.No.S2018/08.02.636/2025-2026 dated June 12, 2025 and published in the Gazette of India (Part III – Section 4) dated July 8, 2025.

Yours faithfully,

(Manoranjan Padhy)
Chief General Manager

MIL OSI Global Banks –

July 25, 2025

MIL-OSI Banking: Inclusion of “Ahmednagar Merchant’s Co-op. Bank Ltd., Ahmednagar” in the Second Schedule of the Reserve Bank of India Act, 1934

Source: Reserve Bank of India

RBI/2025-26/69
DoR.RET.REC.41/12.07.160/2025-26

July 25, 2025

All Banks,

Madam / Sir,

Inclusion of “Ahmednagar Merchant’s Co-op. Bank Ltd., Ahmednagar” in the Second Schedule of the Reserve Bank of India Act, 1934

It is advised that “Ahmednagar Merchant’s Co-op. Bank Ltd., Ahmednagar” has been included in the Second Schedule of the Reserve Bank of India Act, 1934 vide Notification CO.DOR.RAUG.No.S2017/08.02.001/2025-26 dated June 12, 2025 and published in the Gazette of India (Part III – Section 4) dated July 8, 2025.

Yours faithfully,

(Manoranjan Padhy)
Chief General Manager

MIL OSI Global Banks –

July 25, 2025

MIL-OSI Asia-Pac: Green plan becomes fully digitised

Source: Hong Kong Information Services

The Environmental Protection Department announced today that the GREEN$ Electronic Participation Incentive Scheme (GREEN$ ePIS) will be fully digitised on April 1, 2026, under which citizens can redeem gifts at more than 500 supermarkets and retail stores as well as free MTR tickets and local ecotours via the GREEN$ mobile app.

They will no longer need to visit GREEN@COMMUNITY to redeem a limited selection of around 10 types of gifts with the full digitisation, the department noted.

Noting that about 87% of the approximately 1.06 million users of GREEN$ ePIS are using the mobile app that allows the seamless transition to full digitisation, the department said it will offer an extra 50 GREEN$ points to those who return their physical cards and switch to the GREEN$ mobile app from August 1 to September 30, 2025.

The public will be given time to adapt and transition to the new arrangements, as physical gifts will remain available for redemption at GREEN@COMMUNITY until the first quarter of 2026.

Physical cards will cease operation on April 1, 2026. GREEN@COMMUNITY staff will assist people in installing the GREEN$ mobile app and demonstrate how to use the e-point redemption feature.

For those without smartphones, their existing physical cards will not be cancelled. They can register their cards at designated GREEN@COMMUNITY facilities and continue to use the GREEN$ points in the physical cards for redeeming gifts.

After the full digitisation, members of the public can continue to donate GREEN$ points to charitable organisations, the department added.

Click here for figures including the five most popular gifts redeemed at GREEN@COMMUNITY and the total recyclables collected by GREEN@COMMUNITY in the past years.

MIL OSI Asia Pacific News –

July 25, 2025
MIL-OSI: OMS Energy Technologies Inc. Filed 2025 Annual Report on Form 20-F

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, July 25, 2025 (GLOBE NEWSWIRE) — OMS Energy Technologies Inc. (“OMS” or the “Company”) (NASDAQ: OMSE), a growth-oriented manufacturer of surface wellhead systems (“SWS”) and oil country tubular goods (“OCTG”) for the oil and gas industry, today announced that the Company has filed its annual report on Form 20-F for the fiscal year ended March 31, 2025 with the U.S. Securities and Exchange Commission (the “SEC”) on July 25, 2025.

The annual report is available on the Company’s investor relations website at ir.omsos.com and on the SEC’s website at www.sec.gov. The Company will provide hard copies of the annual report, free of charge, to its shareholders upon written request. Requests should be directed to the Investor Relations Department, OMS Energy Technologies Inc., 10 Gul Circle, Singapore 629566.

About OMS Energy Technologies Inc.

OMS Energy Technologies Inc. (NASDAQ: OMSE) is a growth-oriented manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG) for the oil and gas industry. Serving both onshore and offshore exploration and production operators, OMS is a trusted single-source supplier across six vital jurisdictions in the Asia Pacific, Middle Eastern and North African (MENA) regions. The Company’s 11 strategically located manufacturing facilities in key markets ensure rapid response times, customized technical solutions and seamless adaptation to evolving production and logistics needs. Beyond its core SWS and OCTG offerings, OMS also provides premium threading services to maximize operational efficiency for its customers.

For more information, please visit ir.omsos.com.

For investor and media inquiries, please contact:

OMS Energy Technologies Inc.
Investor Relations
Email: ir@omsos.com

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: oms@thepiacentegroup.com

Hui Fan
Tel: +86-10-6508-0677
Email: oms@thepiacentegroup.com

The MIL Network –

July 25, 2025

MIL-OSI: Lakeland Financial Reports Record Second Quarter Performance; Net Income Grows by 20% to $27.0 Million, as Net Interest Income Expands by 14%

Source: GlobeNewswire (MIL-OSI)

WARSAW, Ind., July 25, 2025 (GLOBE NEWSWIRE) — Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record second quarter net income of $27.0 million for the three months ended June 30, 2025, which represents an increase of $4.4 million, or 20%, compared with net income of $22.5 million for the three months ended June 30, 2024. Diluted earnings per share were $1.04 for the second quarter of 2025 and increased $0.17, or 20%, compared to $0.87 for the second quarter of 2024. On a linked quarter basis, net income increased $6.9 million, or 34%, from $20.1 million. Diluted earnings per share increased $0.26, or 33%, from $0.78 on a linked quarter basis.

Pretax pre-provision earnings, which is a non-GAAP measure, were $35.9 million for the three months ended June 30, 2025, an increase of $528,000, or 1%, compared to $35.4 million for the three months ended June 30, 2024. Adjusted core operational profitability, a non-GAAP measure that excludes the impact of certain non-routine operating events that occurred during 2024, improved by $7.8 million, or 41%, from $19.2 million to $27.0 million for the three months ended June 30, 2024 and 2025, respectively.

The company further reported net income of $47.1 million for the six months ended June 30, 2025, versus $46.0 million for the comparable period of 2024, an increase of $1.1 million, or 2%. Diluted earnings per share also increased 2% to $1.82 for the six months ended June 30, 2025, versus $1.78 for the comparable period of 2024. Pretax pre-provision earnings were $67.0 million for the six months ended June 30, 2025, an increase of $2.2 million, or 3%, compared to $64.7 million for the six months ended June 30, 2024. Adjusted core operational profitability improved by $5.2 million, or 12%, from $41.8 million to $47.1 million for the six months ended June 30, 2024 and 2025, respectively.

“We are pleased to report strong earnings momentum for the second quarter of 2025, which has benefited from double digit growth of net interest income and contributed to good overall performance in the first half of 2025,” observed David M. Findlay, Chairman and CEO. “Importantly, our Lake City Bank Team continues to generate healthy loan and deposit growth. It’s been a rewarding first six months of 2025 with this strong financial performance, healthy balance sheet growth and continued success on the business development front for all of our revenue producing teams.”

Quarterly Financial Performance

Second Quarter 2025 versus Second Quarter 2024 highlights:

Return on average equity of 15.52%, compared to 14.19%
Return on average assets of 1.57%, compared to 1.37%
Tangible book value per share grew by $2.14, or 8%, to $27.48
Average loans grew by $194.8 million, or 4%, to $5.23 billion
Core deposits grew by $423.9 million, or 8%, to $6.03 billion
Net interest margin improved 25 basis points to 3.42% versus 3.17%
Net interest income increased by $6.6 million, or 14%
Provision expense of $3.0 million, compared to $8.5 million
Watch list loans as a percentage of total loans improved to 3.67% from 5.31%
Nonaccrual loans declined 46% to $30.6 million compared to $57.1 million
Common equity tier 1 capital ratio improved to 14.73%, compared to 14.28%
Total risk-based capital ratio improved to 15.86%, compared to 15.53%
Tangible capital ratio improved to 10.15%, compared to 9.91%
Average equity increased by $58.0 million, or 9%

Second Quarter 2025 versus First Quarter 2025 highlights:

Return on average equity of 15.52%, compared to 11.70%
Return on average assets of 1.57%, compared to 1.20%
Average loans grew by $43.7 million, or 1%, to $5.23 billion
Core deposits grew by $191.6 million, or 3%, to $6.03 billion
Net interest margin improved 2 basis points to 3.42% versus 3.40%
Net interest income increased by $2.0 million, or 4%
Pretax, pre-provision earnings increased $4.9 million, or 16%
Provision expense of $3.0 million, compared to $6.8 million
Nonaccrual loans declined 47% to $30.6 million compared to $57.4 million
Watch list loans as a percentage of total loans improved to 3.67% from 4.13%
Common equity tier 1 capital ratio of 14.73%, compared to 14.51%
Total risk-based capital ratio of 15.86%, compared to 15.77%
Tangible capital ratio of 10.15%, compared to 10.09%

Capital Strength

The company’s total capital as a percentage of risk-weighted assets improved to 15.86% at June 30, 2025, compared to 15.53% at June 30, 2024 and 15.77% at March 31, 2025. These capital levels significantly exceeded the 10.00% regulatory threshold required to be characterized as “well capitalized” and reflect the company’s robust capital base.

The company’s tangible common equity to tangible assets ratio, which is a non-GAAP financial measure, improved to 10.15% at June 30, 2025, compared to 9.91% at June 30, 2024 and 10.09% at March 31, 2025. Unrealized losses from available-for-sale investment securities were $185.3 million at June 30, 2025, compared to $194.9 million at June 30, 2024 and $188.3 million at March 31, 2025. Excluding the impact of accumulated other comprehensive income (loss) on tangible common equity and tangible assets, the company’s ratio of adjusted tangible common equity to adjusted tangible assets, a non-GAAP financial measure, was 12.17% at June 30, 2025, compared to 12.18% at June 30, 2024, and 12.19% at March 31, 2025.

As announced on July 8, 2025, the board of directors approved a cash dividend for the second quarter of $0.50 per share, payable on August 5, 2025, to shareholders of record as of July 25, 2025. The second quarter dividend per share represents a 4% increase from the $0.48 dividend per share paid for the second quarter of 2024.

The company utilized its share repurchase program during the second quarter of 2025 and repurchased 30,300 shares of its common stock for $1.7 million at a weighted average price per share of $55.94. The company has $28.3 million of remaining availability under the board-approved share repurchase program.

“Our capital position is strong and provides capacity for continued organic growth of our balance sheet as well as continued growth of our common stock dividend to shareholders,” stated Kristin L. Pruitt, President. “While we did utilize our share repurchase program during the second quarter, our priority for capital is to continue capital retention to support loan growth in our Indiana markets and provide for continued balance sheet growth opportunities.”

Loan Portfolio

Average total loans of $5.23 billion in the second quarter of 2025 increased $194.8 million, or 4%, from $5.03 billion for the second quarter of 2024 and increased $43.7 million, or 1%, from $5.19 billion for the first quarter of 2025. Average total loans for the six months ended June 30, 2025 were $5.21 billion, an increase of $205.0 million, or 4%, from $5.00 billion for the six months ended June 30, 2024.

Total loans, excluding deferred fees and costs, increased by $173.8 million, or 3%, from $5.06 billion as of June 30, 2024, to $5.23 billion as of June 30, 2025. The increase in loans occurred across much of the portfolio, with our commercial real estate and multi-family residential loan portfolio growing by $177.0 million, or 7%, our consumer 1-4 family mortgage loan portfolio growing by $46.2 million, or 10%, and our other consumer loan portfolio growing by $6.0 million, or 6%. These increases were offset by contractions to our commercial and industrial loan portfolio of $32.5 million, or 2%, and our agri-business and agricultural loan portfolio of $21.6 million, or 6%. On a linked quarter basis, total loans, excluding deferred fees and costs, increased by $3.4 million, or less than 1%, from $5.23 billion at March 31, 2025. The linked quarter increase was primarily a result of growth in total commercial real estate and multi-family residential loans of $59.6 million, or 2%, and growth in total consumer loans of $17.5 million, or 3%. This growth was offset by contractions in total agri-business and agricultural loans of $44.3 million, or 12%, and total commercial and industrial loans of $29.8 million, or 2%.

Commercial loan originations for the second quarter included approximately $390.0 million in loan originations, offset by approximately $404.0 million in commercial loan pay downs. Line of credit usage increased to 44% as of June 30, 2025, compared to 41% at June 30, 2024 and 43% as of March 31, 2025. Total available lines of credit contracted by $48.0 million, or 1%, as compared to a year ago, and line usage increased by $100.0 million, or 5%, over that period. The company has limited exposure to commercial office space borrowers, all of which are in the bank’s Indiana markets. Loans totaling $106.9 million for this sector represented 2% of total loans at June 30, 2025, an increase of $6.4 million, or 6%, from March 31, 2025. Commercial real estate loans secured by multi-family residential properties and secured by non-farm non-residential properties were approximately 221% of total risk-based capital at June 30, 2025.

“We are pleased that commercial line utilization continues to improve with a utilization rate of 44% at the end of the second quarter 2025,” added Findlay. “This marks the highest line utilization rate since 2020, and we are encouraged that borrower demand for working lines of capital has increased. During the second quarter, construction loans migrated as planned to the CRE multi-family segment. In addition, loan payoffs received during the second quarter impacted the owner occupied CRE and Agriculture segments.”

Diversified Deposit Base

The bank’s diversified deposit base has grown on a year-over-year basis and on a linked quarter basis.

(in thousands)	June 30, 2025				March 31, 2025				June 30, 2024
Retail	$	1,755,750	28.4	%	$	1,787,992	30.0	%	$	1,724,777	29.9	%
Commercial		2,256,620	36.6			2,336,910	39.2			2,150,127	37.3
Public funds		2,014,047	32.6			1,709,883	28.7			1,727,593	30.0
Core deposits		6,026,417	97.6			5,834,785	97.9			5,602,497	97.2
Brokered deposits		150,416	2.4			125,409	2.1			161,040	2.8
Total	$	6,176,833	100.0	%	$	5,960,194	100.0	%	$	5,763,537	100.0	%

Total deposits increased $413.3 million, or 7%, from $5.76 billion as of June 30, 2024, to $6.18 billion as of June 30, 2025. The increase in total deposits was driven by an increase in core deposits (which excludes brokered deposits) of $423.9 million, or 8%. Total core deposits at June 30, 2025 were $6.03 billion and represented 98% of total deposits, as compared to $5.60 billion and 97% of total deposits at June 30, 2024.

The increase in core deposits since June 30, 2024, reflects growth in all three core deposit segments. Public funds deposits grew annually by $286.5 million, or 17%, to $2.01 billion. Public funds deposits as a percentage of total deposits were 33%, up from 30% a year ago. Growth in public funds was positively impacted by the addition of new public funds customers in the Lake City Bank footprint, including their operating accounts. Commercial deposits grew annually by $106.5 million, or 5%, to $2.26 billion and remained at 37% as a percentage of total deposits. Retail deposits grew by $31.0 million, or 2%, to $1.76 billion. Retail deposits as a percentage of total deposits was 28% of total deposits, down from 30% a year ago.

On a linked quarter basis, total deposits increased $216.6 million, or 4%, from $5.96 billion at March 31, 2025, to $6.18 billion at June 30, 2025. Core deposits increased by $191.6 million, or 3%, while brokered deposits increased by $25.0 million, or 20%. The linked quarter growth in core deposits, was positively impacted by the addition of new public funds customers. Offsetting this increase was a decrease in commercial deposits of $80.3 million, or 3%, and a decrease in retail deposits of $32.2 million, or 2%.

Average total deposits were $6.10 billion for the second quarter of 2025, an increase of $276.5 million, or 5%, from $5.82 billion for the second quarter of 2024. Average interest-bearing deposits drove the increase in average total deposits and increased by $263.4 million, or 6%. Contributing to the overall growth of interest-bearing deposits was an increase to average interest-bearing checking accounts of $492.4 million, or 15%. Offsetting this increase was a reduction in average time deposits of $225.9 million, or 22%, and a decrease to average savings deposits of $3.2 million, or 1%. Average noninterest-bearing demand deposits increased by $13.2 million, or 1% to $1.2 billion.

On a linked quarter basis, average total deposits increased by $221.8 million, or 4%, from $5.87 billion for the first quarter of 2025 to $6.10 billion for the second quarter of 2025. Average interest bearing deposits drove the increase to total average deposits, which increased by $236.1 million, or 5%. Average interest bearing checking accounts were responsible for the increase, growing by $281.5 million, or 8%. Offsetting this increase were decreases to total average time deposits of $47.4 million, or 6%, and average noninterest bearing demand deposits decreased by $14.3 million, or 1%.

Checking account trends as of June 30, 2025 compared to June 30, 2024 include growth of $352.1 million, or 23%, in aggregate public fund checking account balances, growth of $93.4 million, or 5%, in aggregate commercial checking account balances, and growth of $52.2 million, or 6%, in aggregate retail checking account balances. The number of accounts has also grown for all three segments, with growth of 9% for public funds accounts, 2% for commercial accounts and 1% for retail accounts during the prior twelve months.

“Deposit growth is strong in many measurable ways. All deposit segments have grown on a year over year basis, and the bank continues to add new public fund customers and their operating accounts,” commented Lisa M. O’Neill, Executive Vice-President and Chief Financial Officer.

Deposits not covered by FDIC deposit insurance as a percentage of total deposits were 59% as of June 30, 2025, compared to 57% at March 31, 2025, and 58% at June 30, 2024, reflecting growth in public fund deposits over those periods. Deposits not covered by FDIC deposit insurance or the Indiana Public Deposit Insurance Fund, which insures public funds deposits in Indiana, were 27% of total deposits at June 30, 2025, compared to 29% at March 31, 2025, and 29% at June 30, 2024. At June 30, 2025, 98% of deposit accounts had deposit balances less than $250,000.

Net Interest Margin

Net interest margin was 3.42% for the second quarter of 2025, representing a 25 basis point increase from 3.17% for the second quarter of 2024. This improvement was driven by a reduction in the company’s funding costs, with interest expense as a percentage of average earning assets falling by 49 basis points from 2.90% for the second quarter of 2024 to 2.41% for the second quarter of 2025. Offsetting the decrease in funding costs was a decrease to earning asset yields of 24 basis points from 6.07% for the second quarter of 2024 to 5.83% for the second quarter of 2025. During the second quarter of 2025, the company recorded a prepayment fee of $541,000 from the early payment of a fixed rate commercial loan, which was recorded as part of interest income. The prepayment fee benefited net interest margin by 3 basis points for the second quarter. Excluding the impact of the prepayment penalty, net interest margin improved by 22 basis points. The easing of monetary policy by the Federal Reserve Bank, which began in September of 2024, drove the reduction in funding costs that provided for the net interest margin expansion through deposit repricing as compared to the prior year quarter.

Net interest margin expanded by 2 basis points to 3.42% for the second quarter of 2025, compared to 3.40% for the linked first quarter of 2025. Average earning asset yields increased by 6 basis points from 5.77% to 5.83% on a linked quarter basis and interest expense as a percentage of average earning assets increased 4 basis points from 2.37% to 2.41%. Excluding the impact of the prepayment penalty, net interest margin contracted by 1 basis point compared to the linked first quarter.

The cumulative loan beta for the current rate-easing cycle that began in September 2024 is 29% compared to the deposit beta of 50% and has resulted in net interest margin expansion which has benefited net interest income. Net interest income was $54.9 million for the second quarter of 2025, representing an increase of $6.6 million, or 14%, as compared to $48.3 million for the second quarter of 2024. On a linked quarter basis, net interest income increased $2.0 million, or 4%, from $52.9 million for the first quarter of 2025. Net interest income increased by $12.0 million, or 13%, from $95.7 million for the six months ended June 30, 2024, to $107.8 million for the six months ended June 30, 2025.

O’Neill noted, “We are pleased to report healthy net interest margin expansion of 25 basis points as compared to a year ago. In this higher-for-longer interest rate environment, we continue to benefit from fixed rate loan repricing and new loan origination activity. In addition, we are pleased that our core deposits represent 98% of our total funding needs compared to 97% a year ago. Core deposit growth has outpaced our loan growth in 2025, which has strengthened our liquidity position. We have begun to reinvest some maturing investment securities into higher yielding investment securities with short duration, which is also benefiting net interest margin.”

Asset Quality

The company recorded a provision for credit losses of $3.0 million in the second quarter of 2025, a decrease of $5.5 million as compared to $8.5 million in the second quarter of 2024. On a linked quarter basis, the provision expense decreased by $3.8 million, from $6.8 million for the first quarter of 2025. Provision expense for the second quarter and for the six months ended June 30, 2025, was primarily driven by an increase in the specific allocation for a previously disclosed $43.3 million nonperforming credit for an industrial company in Northern Indiana as well as loan growth. During the second quarter of 2025, the non-performing borrower reached an agreement to sell and liquidate the business to two unrelated entities. The transactions are expected to close in the third quarter of 2025. As a result of the pending sale and liquidation, the company recognized a charge off of $28.6 million during the second quarter, which was fully allocated at the time of the charge off. The company expects to collect the remainder of the outstanding principal balance from sale and liquidation proceeds and proceeds from the personal guarantee from the borrower.

The ratio of allowance for credit losses to total loans was 1.27% at June 30, 2025, down from 1.60% at June 30, 2024, and 1.77% at March 31, 2025. The decrease in the allowance coverage was due to a significant reduction of 46%, or $26.5 million, in nonaccrual loans, which were $30.6 million at June 30, 2025 versus $57.1 million at June 30, 2024. Net charge offs in the second quarter of 2025 were $28.9 million, compared to $949,000 in the second quarter of 2024 and $327,000 during the linked first quarter of 2025. Annualized net charge offs to average loans were 2.22% for the second quarter of 2025, compared to 0.08% for the second quarter of 2024 and 0.03% for the linked first quarter of 2025. Annualized net charge offs to average loans were 1.13% for the six months ended June 30, 2025 compared to 0.05% for the six months ended June 30, 2024.

Nonperforming assets decreased $26.5 million, or 46%, to $31.1 million as of June 30, 2025, versus $57.6 million as of June 30, 2024. On a linked quarter basis, nonperforming assets decreased $26.8 million, or 46%, compared to $57.9 million as of March 31, 2025. The ratio of nonperforming assets to total assets at June 30, 2025 decreased to 0.45% from 0.88% at June 30, 2024, and decreased from 0.84% at March 31, 2025.

Total individually analyzed and watch list loans decreased by $76.6 million, or 29%, to $191.6 million as of June 30, 2025, versus $268.3 million as of June 30, 2024. On a linked quarter basis, total individually analyzed and watch list loans decreased by $23.9 million, or 11%, from $215.6 million at March 31, 2025. Watch list loans as a percentage of total loans were 3.67% at June 30, 2025, a decrease of 164 basis points compared to 5.31% at June 30, 2024, and 46 basis points from 4.13% at March 31, 2025.

“We are pleased to have reached a resolution on the nonperforming loan that we have been working through for the past several quarters,” stated Findlay. “Importantly, our semi-annual loan portfolio reviews with all loan officers of the bank affirmed that asset quality is stable and that economic conditions in our footprint are contributing to new business development opportunities. We continue to monitor the impact of tariffs on our borrowers. It is too early to quantify the impact of U.S. trade policy on our borrowers’ businesses, although there appears to be less concern on the impact of tariffs that we heard from borrowing clients previously.”

Investment Portfolio Overview

Total investment securities were $1.13 billion at June 30, 2025, reflecting an increase of $5.5 million, or less than 1%, as compared to $1.12 billion at June 30, 2024. Investment securities represented 16% of total assets on June 30, 2025, as compared to 17% and June 30, 2024 and March 31, 2025. The company anticipates receiving principal and interest cash flows of approximately $54.5 million during the remainder of 2025 from the investment securities portfolio and plans to use that liquidity to fund loan growth as well as to fund reinvestments to the investment securities portfolio. Tax equivalent adjusted effective duration for the investment portfolio was 5.9 years at June 30, 2025, compared to 6.5 years at June 30, 2024 and unchanged from 5.9 years at March 31, 2025.

Noninterest Income

The company’s noninterest income decreased $9.0 million, or 44%, to $11.5 million for the second quarter of 2025, compared to $20.4 million for the second quarter of 2024. Noninterest income was elevated during the second quarter of 2024 as compared to the second quarter of 2025 as a result of the net gain on Visa shares of $9.0 million that was recorded in the second quarter of 2024. Adjusted core noninterest income, a non-GAAP financial measure that excludes the effect of the net gain on Visa shares and an insurance recovery, increased $58,000, or less than 1%, from $11.4 million during the second quarter of 2024. Bank owned life insurance income increased $150,000, or 17%, primarily as a result of increased general account bank owned life insurance income from the purchase of insurance policies during the second quarter of 2025. Mortgage banking income increased $101,000 due to growth in the company’s mortgage pipeline, which favorably impacted secondary market loan sale gains and mortgage rate lock income. Wealth advisory fees increased $70,000, or 3%, driven by continued growth in customers and assets under management. Investment brokerage fees increased $72,000, or 15%, due to increased volume and product mix. Offsetting these increases was a decrease to other income of $296,000, or 43%, primarily driven by reduced limited partnership investment income.

Noninterest income for the second quarter of 2025 increased by $558,000, or 5%, on a linked quarter basis from $10.9 million during the first quarter of 2025. Bank owned life insurance income increased $718,000, or 223%, primarily as a result of improved market performance of the bank’s variable owned life insurance policies and increased general account bank owned life insurance income from the purchase of insurance policies during the second quarter of 2025. Loan and service fee income increased $122,000, or 4%, from increased interchange fee income. Mortgage banking income increased $175,000, as a result of income derived from secondary mortgage sales and pipeline growth. Investment brokerage fees income increased $98,000, or 22%. Offsetting these increases was a decrease to other income of $460,000, or 54%, primarily a result of reduced limited partnership investment income. Wealth advisory fees, which benefited in the linked first quarter of 2025 from significant estate settlement fee income decreased $200,000, or 7%.

“The linked quarter improvement of noninterest income of 5% is encouraging as we continue to focus on growing our fee-based businesses,” noted Findlay. “We are particularly pleased with the continued growth of our Wealth Advisory Management area, which has recently added revenue generating employees in our footprint with a focus in Indianapolis. Assets under management in this area have reached nearly $3.0 billion at quarter end.”

Noninterest income decreased by $10.6 million, or 32%, to $22.4 million for the six months ended June 30, 2025, compared to $33.1 million for the prior year six-month period. Noninterest income was elevated during the first six months of 2024 as compared to the comparable period of 2025 primarily because of the net gain on Visa shares of $9.0 million and a $1.0 million insurance recovery. Adjusted core noninterest income, a non-GAAP financial measure that excludes the impact of these non-routine events, declined $626,000, or 3%, from $23.0 million for the six months ended June 30, 2024. Other income decreased $1.6 million, or 56%, as other income during the first six months of 2024 benefited from the $1.0 million insurance recovery. Reduced limited partnership investment income further contributed to the decline between the periods. Bank owned life insurance income decreased $564,000, or 29%, primarily as a result of reduced market performance from the bank’s variable bank owned life insurance policies, which correlate to returns in the equities markets. Offsetting these decreases were increases to wealth advisory fees of $482,000, or 10%, and service charges on deposit accounts of $104,000, or 2%. The increase in wealth advisory fees was primarily driven by continued growth in customers and assets under management.

Noninterest Expense

Noninterest expense decreased $2.9 million, or 9%, to $30.4 million for the second quarter of 2025, compared to $33.3 million during the second quarter of 2024. Noninterest expense was elevated during the second quarter of 2024 as compared to 2025 due to a $4.5 million accrual that was recorded from the resolution of a legal matter. Adjusted core noninterest expense, which excludes the impact of the legal accrual, increased $1.6 million, or 6%, from $28.8 million for the second quarter of 2024. Salaries and benefits expense increased by $938,000, or 6%. The primary drivers for the increase to salaries and benefits expense were increased salaries expense of $756,000 and increased health insurance expense of $127,000. Additionally, data processing fees and supplies expense increased $340,000, or 9%, from continued investment in customer-facing and operational technology solutions. Offsetting these increases were decreases to other expense of $3.8 million, or 62%, professional fees of $417,000, or 20%, and corporate and business development expense of $105,000, or 8%. The decrease to other expense was driven by the legal accrual recorded during the second quarter of 2024. The decrease to professional fees was primarily driven by reduced technology implementation consulting fees and swap collateral fees. Corporate and business development expense decreased primarily as a result of lower advertising expense.

On a linked quarter basis, noninterest expense decreased by $2.3 million, or 7%, from $32.8 million during the first quarter of 2025. The primary drivers for the decrease to noninterest expense was a decrease to salaries and employee benefits of $806,000, or 5%, due to a reduction in HSA contributions expense of $441,000, resulting from the timing of the annual employer contribution to employee accounts, and a reduction in performance-based compensation accruals. Professional fees decreased $674,000, or 28%, and were primarily driven by reduced technology implementation consulting fees and swap collateral interest expense. Other expense decreased $353,000, or 13%, as other expense was elevated in the linked first quarter of 2025 from the timing of semiannual director share awards. Corporate and business development expense decreased by $246,000, or 18%, due to reduced advertising expense, primarily driven by the timing of when advertisement television spots were purchased and utilized. Net occupancy expense decreased $233,000, or 12%, due to reductions in seasonal expenses. Data processing fees and supplies expense decreased $113,000, or 3%.

Noninterest expense decreased by $843,000, or 1%, for the six months ended June 30, 2025 to $63.2 million compared to $64.0 million for the six months ended June 30, 2024. Adjusted core noninterest expense, which excludes the impact of the $4.5 million legal accrual, increased $3.7 million, or 6%, from $59.5 million for the six months ended June 30, 2024. Salaries and benefits expense increased by $2.0 million, or 6%. Data processing fees and supplies and expense increased $766,000, or 10%. Net occupancy expense increased $289,000, or 8%, as a result of increased occupancy expense from the continued expansion of the company’s branch network and improvements to existing facilities. Offsetting these increases were decreases to other expense of $3.4 million, or 41%, and professional fees of $500,000, or 11%.

The company’s efficiency ratio was 45.9% for the second quarter of 2025, compared to 48.5% for the second quarter of 2024 and 51.4% for the linked first quarter of 2025. The company’s adjusted core efficiency ratio, a non-GAAP financial measure, was 48.2% for the second quarter of 2024.

The company’s efficiency ratio was 48.6% for the six months ended June 30, 2025, compared to 49.7% for the comparable period in 2024. The company’s adjusted core efficiency ratio was 50.1% for the six months ended June 30, 2024.

Findlay added, “We are pleased with the improvement in our efficiency ratio, which has benefited from strong core revenue growth of 10% on a year-over-year basis. Our growth in noninterest expense is focused on continued investments in human capital, technology solutions and organic expansion of our banking footprint, particularly in Indianapolis.”

Information regarding Lakeland Financial Corporation may be accessed on the home page of its subsidiary, Lake City Bank, at lakecitybank.com. The company’s common stock is traded on the Nasdaq Global Select Market under “LKFN.” Lake City Bank, a $7.0 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients.

This document contains, and future oral and written statements of the company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “continue,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. The company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain and, accordingly, the reader is cautioned not to place undue reliance on any forward-looking statements made by the company. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the company undertakes no obligation to update any statement in light of new information or future events. Numerous factors could cause the company’s actual results to differ from those reflected in forward-looking statements, including the effects of economic, business and market conditions and changes, particularly in our Indiana market area, including prevailing interest rates and the rate of inflation; governmental trade, monetary and fiscal policies; the risks of changes in interest rates on the levels, composition and costs of deposits, loan demand and the values and liquidity of loan collateral, securities and other interest sensitive assets and liabilities; and changes in borrowers’ credit risks and payment behaviors, as well as those identified in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

LAKELAND FINANCIAL CORPORATION SECOND QUARTER 2025 FINANCIAL HIGHLIGHTS

	Three Months Ended									Six Months Ended
(Unaudited – Dollars in thousands, except per share data)	June 30,			March 31,			June 30,			June 30,			June 30,
END OF PERIOD BALANCES		2025			2025			2024			2025			2024
Assets	$	6,964,301		$	6,851,178		$	6,568,807		$	6,964,301		$	6,568,807
Investments		1,129,346			1,132,854			1,123,803			1,129,346			1,123,803
Loans		5,226,827			5,223,221			5,052,341			5,226,827			5,052,341
Allowance for Credit Losses		66,552			92,433			80,711			66,552			80,711
Deposits		6,176,833			5,960,194			5,763,537			6,176,833			5,763,537
Brokered Deposits		150,416			125,409			161,040			150,416			161,040
Core Deposits (1)		6,026,417			5,834,785			5,602,497			6,026,417			5,602,497
Total Equity		709,987			694,509			654,590			709,987			654,590
Goodwill Net of Deferred Tax Assets		3,803			3,803			3,803			3,803			3,803
Tangible Common Equity (2)		706,184			690,706			650,787			706,184			650,787
Adjusted Tangible Common Equity (2)		866,758			854,585			820,534			866,758			820,534
AVERAGE BALANCES
Total Assets	$	6,904,681		$	6,762,970		$	6,642,954		$	6,834,217		$	6,598,711
Earning Assets		6,570,607			6,430,804			6,295,281			6,501,092			6,256,105
Investments		1,125,597			1,136,404			1,118,776			1,130,970			1,138,639
Loans		5,229,646			5,185,918			5,034,851			5,207,903			5,002,935
Total Deposits		6,096,504			5,874,725			5,819,962			5,986,227			5,725,196
Interest Bearing Deposits		4,852,446			4,616,381			4,589,059			4,735,066			4,472,693
Interest Bearing Liabilities		4,886,943			4,716,465			4,666,136			4,802,175			4,599,136
Total Equity		696,976			696,053			638,999			696,517			642,003
INCOME STATEMENT DATA
Net Interest Income	$	54,876		$	52,875		$	48,296		$	107,751		$	95,712
Net Interest Income-Fully Tax Equivalent		55,986			53,983			49,493			109,970			98,176
Provision for Credit Losses		3,000			6,800			8,480			9,800			10,000
Noninterest Income		11,486			10,928			20,439			22,414			33,051
Noninterest Expense		30,432			32,763			33,333			63,195			64,038
Net Income		26,966			20,085			22,549			47,051			45,950
Pretax Pre-Provision Earnings (2)		35,930			31,040			35,402			66,970			64,725
PER SHARE DATA
Basic Net Income Per Common Share	$	1.05		$	0.78		$	0.88		$	1.83		$	1.79
Diluted Net Income Per Common Share		1.04			0.78			0.87			1.82			1.78
Cash Dividends Declared Per Common Share		0.50			0.50			0.48			1.00			0.96
Dividend Payout		48.08	%		64.10	%		55.17	%		54.95	%		53.93	%
Book Value Per Common Share (equity per share issued)	$	27.63		$	26.99		$	25.49		$	27.63		$	25.49
Tangible Book Value Per Common Share (2)		27.48			26.85			25.34			27.48			25.34
Market Value – High	$	62.39		$	71.77		$	66.62		$	71.77		$	73.22
Market Value – Low		50.00			58.24			57.59			50.00			57.59

	Three Months Ended									Six Months Ended
(Unaudited – Dollars in thousands, except per share data)	June 30,			March 31,			June 30,			June 30,			June 30,
KEY RATIOS		2025			2025			2024			2025			2024
Basic Weighted Average Common Shares Outstanding		25,707,233			25,714,818			25,678,231			25,711,004			25,667,647
Diluted Weighted Average Common Shares Outstanding		25,776,205			25,802,865			25,742,871			25,782,817			25,746,773
Return on Average Assets		1.57	%		1.20	%		1.37	%		1.39	%		1.40	%
Return on Average Total Equity		15.52			11.70			14.19			13.62			14.39
Average Equity to Average Assets		10.09			10.29			9.62			10.19			9.73
Net Interest Margin		3.42			3.40			3.17			3.41			3.16
Efficiency (Noninterest Expense/Net Interest Income plus Noninterest Income)		45.86			51.35			48.49			48.55			49.73
Loans to Deposits		84.62			87.64			87.66			84.62			87.66
Investment Securities to Total Assets		16.22			16.54			17.11			16.22			17.11
Tier 1 Leverage (3)		12.21			12.30			11.98			12.21			11.98
Tier 1 Risk-Based Capital (3)		14.73			14.51			14.28			14.73			14.28
Common Equity Tier 1 (CET1) (3)		14.73			14.51			14.28			14.73			14.28
Total Capital (3)		15.86			15.77			15.53			15.86			15.53
Tangible Capital (2)		10.15			10.09			9.91			10.15			9.91
Adjusted Tangible Capital (2)		12.17			12.19			12.18			12.17			12.18
ASSET QUALITY
Loans Past Due 30 – 89 Days	$	1,648		$	4,288		$	1,615		$	1,648		$	1,615
Loans Past Due 90 Days or More		7			7			26			7			26
Nonaccrual Loans		30,627			57,392			57,124			30,627			57,124
Nonperforming Loans		30,634			57,399			57,150			30,634			57,150
Other Real Estate Owned		284			284			384			284			384
Other Nonperforming Assets		183			193			90			183			90
Total Nonperforming Assets		31,101			57,876			57,624			31,101			57,624
Individually Analyzed Loans		52,069			81,346			78,533			52,069			78,533
Non-Individually Analyzed Watch List Loans		139,548			134,218			189,726			139,548			189,726
Total Individually Analyzed and Watch List Loans		191,617			215,564			268,259			191,617			268,259
Gross Charge Offs		29,111			508			1,076			29,619			1,580
Recoveries		230			181			127			411			319
Net Charge Offs/(Recoveries)		28,881			327			949			29,208			1,261
Net Charge Offs/(Recoveries) to Average Loans		2.22	%		0.03	%		0.08	%		1.13	%		0.05	%
Credit Loss Reserve to Loans		1.27			1.77			1.60			1.27			1.60
Credit Loss Reserve to Nonperforming Loans		217.25			161.04			141.23			217.25			141.23
Nonperforming Loans to Loans		0.59			1.10			1.13			0.59			1.13
Nonperforming Assets to Assets		0.45			0.84			0.88			0.45			0.88
Total Individually Analyzed and Watch List Loans to Total Loans		3.67	%		4.13	%		5.31	%		3.67	%		5.31	%


	Three Months Ended									Six Months Ended
(Unaudited – Dollars in thousands, except per share data)	June 30,			March 31,			June 30,			June 30,			June 30
KEY RATIOS		2025			2025			2024			2025			2024,
OTHER DATA
Full Time Equivalent Employees		675			647			653			675			653
Offices		54			54			53			54			53

(1	)	Core deposits equals deposits less brokered deposits.
(2	)	Non-GAAP financial measure – see “Reconciliation of Non-GAAP Financial Measures”.
(3	)	Capital ratios for June 30, 2025 are preliminary until the Call Report is filed.

CONSOLIDATED BALANCE SHEETS (in thousands, except share data)
	June 30, 2025			December 31, 2024
	(Unaudited)
ASSETS
Cash and due from banks	$	97,413		$	71,733
Short-term investments		212,767			96,472
Total cash and cash equivalents		310,180			168,205
Securities available-for-sale, at fair value		996,957			991,426
Securities held-to-maturity, at amortized cost (fair value of $107,979 and $113,107, respectively)		132,389			131,568
Real estate mortgage loans held-for-sale		1,637			1,700
Loans, net of allowance for credit losses of $66,552 and $85,960		5,160,275			5,031,988
Land, premises and equipment, net		61,449			60,489
Bank owned life insurance		127,399			113,320
Federal Reserve and Federal Home Loan Bank stock		21,420			21,420
Accrued interest receivable		29,109			28,446
Goodwill		4,970			4,970
Other assets		118,516			124,842
Total assets	$	6,964,301		$	6,678,374

LIABILITIES
Noninterest bearing deposits	$	1,261,740		$	1,297,456
Interest bearing deposits		4,915,093			4,603,510
Total deposits		6,176,833			5,900,966

Borrowings
Federal Home Loan Bank advance		1,200			0
Other borrowings		5,000				0
Total borrowings		6,200			0

Accrued interest payable		9,996			15,117
Other liabilities		61,285			78,380
Total liabilities		6,254,314			5,994,463

STOCKHOLDERS’ EQUITY
Common stock: 90,000,000 shares authorized, no par value
26,016,494 shares issued and 25,525,105 outstanding as of June 30, 2025
25,978,831 shares issued and 25,509,592 outstanding as of December 31, 2024		130,664			129,664
Retained earnings		757,739			736,412
Accumulated other comprehensive income (loss)		(161,121	)		(166,500		)
Treasury stock, at cost (491,389 shares and 469,239 shares as of June 30, 2025 and December 31, 2024, respectively)		(17,384	)		(15,754		)
Total stockholders’ equity		709,898			683,822
Noncontrolling interest		89			89
Total equity		709,987			683,911
Total liabilities and equity	$	6,964,301		$	6,678,374

CONSOLIDATED STATEMENTS OF INCOME (unaudited – in thousands, except share and per share data)
	Three Months Ended June 30,				Six Months Ended June 30,
		2025		2024		2025		2024
NET INTEREST INCOME
Interest and fees on loans
Taxable	$	84,418	$	84,226	$	166,158	$	166,268
Tax exempt		291		632		583		1,532
Interest and dividends on securities
Taxable		3,457		3,104		6,846		6,143
Tax exempt		3,917		3,932		7,827		7,879
Other interest income		2,302		1,842		3,426		2,948
Total interest income		94,385		93,736		184,840		184,770

Interest on deposits		39,111		44,363		75,569		85,527
Interest on short-term borrowings		398		1,077		1,520		3,531
Total interest expense		39,509		45,440		77,089		89,058

NET INTEREST INCOME		54,876		48,296		107,751		95,712

Provision for credit losses		3,000		8,480		9,800		10,000

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		51,876		39,816		97,951		85,712

NONINTEREST INCOME
Wealth advisory fees		2,667		2,597		5,534		5,052
Investment brokerage fees		550		478		1,002		1,000
Service charges on deposit accounts		2,827		2,806		5,601		5,497
Loan and service fees		3,006		3,048		5,890		5,900
Merchant and interchange fee income		854		892		1,676		1,755
Bank owned life insurance income		1,040		890		1,362		1,926
Interest rate swap fee income		20		0		20		0
Mortgage banking income (loss)		124		23		73		75
Net securities gains (losses)		0		0		0		(46	)
Net gain on Visa shares		0		9,011		0		9,011
Other income		398		694		1,256		2,881
Total noninterest income		11,486		20,439		22,414		33,051

NONINTEREST EXPENSE
Salaries and employee benefits		17,096		16,158		34,998		32,991
Net occupancy expense		1,747		1,698		3,727		3,438
Equipment costs		1,437		1,343		2,819		2,755
Data processing fees and supplies		4,152		3,812		8,417		7,651
Corporate and business development		1,160		1,265		2,566		2,646
FDIC insurance and other regulatory fees		839		816		1,639		1,605
Professional fees		1,706		2,123		4,086		4,586
Other expense		2,295		6,118		4,943		8,366
Total noninterest expense		30,432		33,333		63,195		64,038

INCOME BEFORE INCOME TAX EXPENSE		32,930		26,922		57,170		54,725
Income tax expense		5,964		4,373		10,119		8,775
NET INCOME	$	26,966	$	22,549	$	47,051	$	45,950

BASIC WEIGHTED AVERAGE COMMON SHARES		25,707,233		25,678,231		25,711,004		25,667,647

BASIC EARNINGS PER COMMON SHARE	$	1.05	$	0.88	$	1.83	$	1.79

DILUTED WEIGHTED AVERAGE COMMON SHARES		25,776,205		25,742,871		25,782,817		25,746,773

DILUTED EARNINGS PER COMMON SHARE	$	1.04	$	0.87	$	1.82	$	1.78

LAKELAND FINANCIAL CORPORATION LOAN DETAIL (unaudited, in thousands)

	June 30, 2025					March 31, 2025					June 30, 2024
Commercial and industrial loans:
Working capital lines of credit loans	$	717,484		13.7	%	$	716,522		13.7	%	$	697,754		13.8	%
Non-working capital loans		776,278		14.9			807,048		15.5			828,523		16.4
Total commercial and industrial loans		1,493,762		28.6			1,523,570		29.2			1,526,277		30.2

Commercial real estate and multi-family residential loans:
Construction and land development loans		552,998		10.6			623,905		12.0			658,345		13.0
Owner occupied loans		780,285		14.9			804,933		15.4			830,018		16.4
Nonowner occupied loans		869,196		16.6			852,033		16.3			762,365		15.1
Multifamily loans		477,910		9.1			339,946		6.5			252,652		5.0
Total commercial real estate and multi-family residential loans		2,680,389		51.2			2,620,817		50.2			2,503,380		49.5

Agri-business and agricultural loans:
Loans secured by farmland		150,934		2.9			156,112		3.0			161,410		3.2
Loans for agricultural production		188,501		3.6			227,659		4.3			199,654		4.0
Total agri-business and agricultural loans		339,435		6.5			383,771		7.3			361,064		7.2

Other commercial loans		95,442		1.8			94,927		1.8			96,703		1.9
Total commercial loans		4,609,028		88.1			4,623,085		88.5			4,487,424		88.8

Consumer 1-4 family mortgage loans:
Closed end first mortgage loans		273,287		5.2			265,855		5.1			259,094		5.1
Open end and junior lien loans		226,114		4.4			217,981		4.2			197,861		3.9
Residential construction and land development loans		16,667		0.3			16,359		0.3			12,952		0.3
Total consumer 1-4 family mortgage loans		516,068		9.9			500,195		9.6			469,907		9.3

Other consumer loans		103,880		2.0			102,254		1.9			97,895		1.9
Total consumer loans		619,948		11.9			602,449		11.5			567,802		11.2
Subtotal		5,228,976		100.0	%		5,225,534		100.0	%		5,055,226		100.0	%
Less: Allowance for credit losses		(66,552	)				(92,433	)				(80,711	)
Net deferred loan fees		(2,149	)				(2,313	)				(2,885	)
Loans, net	$	5,160,275				$	5,130,788				$	4,971,630

LAKELAND FINANCIAL CORPORATION DEPOSITS AND BORROWINGS (unaudited, in thousands)

	June 30, 2025		March 31, 2025		June 30, 2024
Noninterest bearing demand deposits	$	1,261,740	$	1,296,907	$	1,212,989
Savings and transaction accounts:
Savings deposits		283,976		293,768		283,809
Interest bearing demand deposits		3,841,703		3,554,310		3,274,179
Time deposits:
Deposits of $100,000 or more		584,165		602,577		776,314
Other time deposits		205,249		212,632		216,246
Total deposits	$	6,176,833	$	5,960,194	$	5,763,537
FHLB advances and other borrowings		6,200		108,200		55,000
Total funding sources	$	6,183,033	$	6,068,394	$	5,818,537

LAKELAND FINANCIAL CORPORATION AVERAGE BALANCE SHEET AND NET INTEREST ANALYSIS (UNAUDITED)

	Three Months Ended June 30, 2025							Three Months Ended March 31, 2025							Three Months Ended June 30, 2024
(fully tax equivalent basis, dollars in thousands)	Average Balance			Interest Income		Yield (1)/ Rate		Average Balance			Interest Income		Yield (1)/ Rate		Average Balance			Interest Income		Yield (1)/ Rate
Earning Assets
Loans:
Taxable (2)(3)	$	5,204,006		$	84,418	6.51	%	$	5,160,031		$	81,740	6.42	%	$	4,993,270		$	84,226	6.78	%
Tax exempt (1)		25,640			359	5.62			25,887			361	5.66			41,581			783	7.57
Investments: (1)
Securities		1,125,597			8,416	3.00			1,136,404			8,338	2.98			1,118,776			8,082	2.91
Short-term investments		2,832			28	3.97			2,964			28	3.83			2,836			35	4.96
Interest bearing deposits		212,532			2,274	4.29			105,518			1,096	4.21			138,818			1,807	5.24
Total earning assets	$	6,570,607		$	95,495	5.83	%	$	6,430,804		$	91,563	5.77	%	$	6,295,281		$	94,933	6.07	%
Less: Allowance for credit losses		(93,644	)						(87,477	)						(74,166	)
Nonearning Assets
Cash and due from banks		66,713							71,004							64,518
Premises and equipment		61,280							60,523							58,702
Other nonearning assets		299,725							288,116							298,619
Total assets	$	6,904,681						$	6,762,970						$	6,642,954

Interest Bearing Liabilities
Savings deposits	$	285,944		$	43	0.06	%	$	283,888		$	42	0.06	%	$	289,107		$	48	0.07	%
Interest bearing checking accounts		3,767,903			31,499	3.35			3,486,447			28,075	3.27			3,275,502			33,323	4.09
Time deposits:
In denominations under $100,000		208,770			1,745	3.35			212,934			1,832	3.49			217,146			1,871	3.47
In denominations over $100,000		589,829			5,824	3.96			633,112			6,509	4.17			807,304			9,121	4.54
Other short-term borrowings		33,297			398	4.79			99,830			1,122	4.56			77,077			1,077	5.62
Long-term borrowings		1,200			0	0.00			254			0	0.00			0			0	0.00
Total interest bearing liabilities	$	4,886,943		$	39,509	3.24	%	$	4,716,465		$	37,580	3.23	%	$	4,666,136		$	45,440	3.92	%
Noninterest Bearing Liabilities
Demand deposits		1,244,058							1,258,344							1,230,903
Other liabilities		76,704							92,108							106,916
Stockholders’ Equity		696,976							696,053							638,999
Total liabilities and stockholders’ equity	$	6,904,681						$	6,762,970						$	6,642,954
Interest Margin Recap
Interest income/average earning assets					95,495	5.83	%					91,563	5.77	%					94,933	6.07	%
Interest expense/average earning assets					39,509	2.41						37,580	2.37						45,440	2.90
Net interest income and margin				$	55,986	3.42	%				$	53,983	3.40	%				$	49,493	3.17	%

(1	)	Tax exempt income was converted to a fully taxable equivalent basis at a 21 percent tax rate. The tax equivalent rate for tax exempt loans and tax-exempt securities acquired after January 1, 1983, included the Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”) adjustment applicable to nondeductible interest expenses. Taxable equivalent basis adjustments were $1.11 million, $1.11 million and $1.20 million in the three-month periods ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively.
(2	)	Loan fees, which are immaterial in relation to total taxable loan interest income for the three-month periods ended June 30, 2025, March 31, 2025, and June 30, 2024, are included as taxable loan interest income.
(3	)	Nonaccrual loans are included in the average balance of taxable loans.

Reconciliation of Non-GAAP Financial Measures

Tangible common equity, adjusted tangible common equity, tangible assets, adjusted tangible assets, tangible book value per common share, tangible common equity to tangible assets, adjusted tangible common equity to adjusted tangible assets, and pretax pre-provision earnings are non-GAAP financial measures calculated based on GAAP amounts. Tangible common equity is calculated by excluding the balance of goodwill and other intangible assets from the calculation of equity, net of deferred tax. Tangible assets are calculated by excluding the balance of goodwill and other intangible assets from the calculation of total assets, net of deferred tax. Adjusted tangible assets and adjusted tangible common equity remove the fair market value adjustment impact of the available-for-sale investment securities portfolio in accumulated other comprehensive income (loss) (“AOCI”). Tangible book value per common share is calculated by dividing tangible common equity by the number of shares outstanding less true treasury stock. Pretax pre-provision earnings is calculated by adding net interest income to noninterest income and subtracting noninterest expense. Because not all companies use the same calculation of tangible common equity and tangible assets, this presentation may not be comparable to other similarly titled measures calculated by other companies. However, management considers these measures of the company’s value meaningful to understanding of the company’s financial information and performance.

A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data).

	Three Months Ended									Six Months Ended
	Jun. 30, 2025			Mar. 31, 2025			Jun. 30, 2024			Jun. 30, 2025			Jun. 30, 2024
Total Equity	$	709,987		$	694,509		$	654,590		$	709,987		$	654,590
Less: Goodwill		(4,970	)		(4,970	)		(4,970	)		(4,970	)		(4,970	)
Plus: DTA Related to Goodwill		1,167			1,167			1,167			1,167			1,167
Tangible Common Equity		706,184			690,706			650,787			706,184			650,787
Market Value Adjustment in AOCI		160,574			163,879			169,747			160,574			169,747
Adjusted Tangible Common Equity		866,758			854,585			820,534			866,758			820,534

Assets	$	6,964,301		$	6,851,178		$	6,568,807		$	6,964,301		$	6,568,807
Less: Goodwill		(4,970	)		(4,970	)		(4,970	)		(4,970	)		(4,970	)
Plus: DTA Related to Goodwill		1,167			1,167			1,167			1,167			1,167
Tangible Assets		6,960,498			6,847,375			6,565,004			6,960,498			6,565,004
Market Value Adjustment in AOCI		160,574			163,879			169,747			160,574			169,747
Adjusted Tangible Assets		7,121,072			7,011,254			6,734,751			7,121,072			6,734,751

Ending Common Shares Issued		25,697,093			25,727,393			25,679,066			25,697,093			25,679,066

Tangible Book Value Per Common Share	$	27.48		$	26.85		$	25.34		$	27.48		$	25.34

Tangible Common Equity/Tangible Assets		10.15	%		10.09	%		9.91	%		10.15	%		9.91	%
Adjusted Tangible Common Equity/Adjusted Tangible Assets		12.17	%		12.19	%		12.18	%		12.17	%		12.18	%

Net Interest Income	$	54,876		$	52,875		$	48,296		$	107,751		$	95,712
Plus: Noninterest Income		11,486			10,928			20,439			22,414			33,051
Minus: Noninterest Expense		(30,432	)		(32,763	)		(33,333	)		(63,195	)		(64,038	)
Pretax Pre-Provision Earnings	$	35,930		$	31,040		$	35,402		$	66,970		$	64,725

Adjusted core noninterest income, adjusted core noninterest expense, adjusted earnings before income taxes, core operational profitability, core operational diluted earnings per common share and adjusted core efficiency ratio are non-GAAP financial measures calculated based on GAAP amounts. These adjusted amounts are calculated by excluding the impact of the net gain on Visa shares, legal accrual and 2023 wire fraud loss insurance recoveries for the periods presented below. Management considers these measures of financial performance to be meaningful to understanding the company’s core business performance for these periods.

A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data).

	Three Months Ended									Six Months Ended
	Jun. 30, 2025			Mar. 31, 2025			Jun. 30, 2024			Jun. 30, 2025			Jun. 30, 2024
Noninterest Income	$	11,486		$	10,928		$	20,439		$	22,414		$	33,051
Less: Net Gain on Visa Shares		0			0			(9,011	)		0			(9,011	)
Less: Insurance Recovery		0			0			0			0			(1,000	)
Adjusted Core Noninterest Income	$	11,486		$	10,928		$	11,428		$	22,414		$	23,040

Noninterest Expense	$	30,432		$	32,763		$	33,333		$	63,195		$	64,038
Less: Legal Accrual		0			0			(4,537	)		0			(4,537	)
Adjusted Core Noninterest Expense	$	30,432		$	32,763		$	28,796		$	63,195		$	59,501

Earnings Before Income Taxes	$	32,930		$	24,240		$	26,922		$	57,170		$	54,725
Adjusted Core Impact:
Noninterest Income		0			0			(9,011	)		0			(10,011	)
Noninterest Expense		0			0			4,537			0			4,537
Total Adjusted Core Impact		0			0			(4,474	)		0			(5,474	)
Adjusted Earnings Before Income Taxes		32,930			24,240			22,448			57,170			49,251
Tax Effect		(5,964	)		(4,155	)		(3,261	)		(10,119	)		(7,414	)
Core Operational Profitability (1)	$	26,966		$	20,085		$	19,187		$	47,051		$	41,837

Diluted Earnings Per Common Share	$	1.04		$	0.78		$	0.87		$	1.82		$	1.78
Impact of Adjusted Core Items		0.00			0.00			(0.13	)		0.00			(0.16	)
Core Operational Diluted Earnings Per Common Share	$	1.04		$	0.78		$	0.74		$	1.82		$	1.62

Adjusted Core Efficiency Ratio		45.86	%		51.35	%		48.22	%		48.55	%		50.11	%

(1	)	Core operational profitability was $3.4 million lower than reported net income for the three months ended June 30, 2024 and $4.1 million lower for the six months ended June 30, 2024.

Contact Lisa M. O’Neill
Executive Vice President and Chief Financial Officer
(574) 267-9125
lisa.oneill@lakecitybank.com

The MIL Network –

July 25, 2025

MIL-OSI Banking: ABAC Calls for Open, Predictable and Rules-Based Trade in Standalone Statement Hai Phong, Viet Nam | 25 July 2025 APEC Business Advisory Council

Source: APEC – Asia Pacific Economic Cooperation

At its meeting this week in Hai Phong, Viet Nam, the APEC Business Advisory Council (ABAC) calls on APEC Leaders to reaffirm their commitment to open, predictable, rules-based, non-discriminatory and competitive markets.

The Chair of ABAC’s Regional Economic Integration Working Group, Anna Curzon of ABAC New Zealand, noted the region’s remarkable success in raising living standards and creating jobs and opportunities has been grounded in open markets and underpinned by the global system of trade rules. But that is now in jeopardy in the face of mounting trade tensions, policy volatility and global uncertainty.

“The current turmoil, including rising protectionism, is a distraction from the critical work of revitalizing businesses and our economies, and tackling critical challenges to achieving a prosperous, sustainable future. It poses substantial threats to the international economic outlook,” said Curzon.

“In our Open Markets Statement, we are presenting our Leaders with more than recommendations—we are offering a strategic roadmap to restore the economic dynamism that defines our region. Our ask is simple. We are urging our Leaders to help create the breathing room we need to get back to work,” concluded Curzon.

The statement can be found here.

For further information, please contact:

Stephanie Honey (Ms), REIWG Lead Staffer at +64 21 352 633 and [email protected]
Antonio Basilio (Mr), Director of the ABAC Secretariat at +63 917 849 3351 and [email protected]

MIL OSI Global Banks –

July 25, 2025
MIL-OSI Economics: ABAC Calls for Open, Predictable and Rules-Based Trade in Standalone Statement Hai Phong, Viet Nam | 25 July 2025 APEC Business Advisory Council

Source: APEC – Asia Pacific Economic Cooperation

At its meeting this week in Hai Phong, Viet Nam, the APEC Business Advisory Council (ABAC) calls on APEC Leaders to reaffirm their commitment to open, predictable, rules-based, non-discriminatory and competitive markets.

The Chair of ABAC’s Regional Economic Integration Working Group, Anna Curzon of ABAC New Zealand, noted the region’s remarkable success in raising living standards and creating jobs and opportunities has been grounded in open markets and underpinned by the global system of trade rules. But that is now in jeopardy in the face of mounting trade tensions, policy volatility and global uncertainty.

“The current turmoil, including rising protectionism, is a distraction from the critical work of revitalizing businesses and our economies, and tackling critical challenges to achieving a prosperous, sustainable future. It poses substantial threats to the international economic outlook,” said Curzon.

“In our Open Markets Statement, we are presenting our Leaders with more than recommendations—we are offering a strategic roadmap to restore the economic dynamism that defines our region. Our ask is simple. We are urging our Leaders to help create the breathing room we need to get back to work,” concluded Curzon.

The statement can be found here.

For further information, please contact:

Stephanie Honey (Ms), REIWG Lead Staffer at +64 21 352 633 and [email protected]
Antonio Basilio (Mr), Director of the ABAC Secretariat at +63 917 849 3351 and [email protected]

MIL OSI Economics –

July 25, 2025
MIL-OSI United Kingdom: IMF supports growth agenda and fiscal framework
Source: United Kingdom – Government Statements

News story

IMF supports growth agenda and fiscal framework

IMF endorses Plan for Change growth mission and fiscal reforms.
The IMF’s Article IV surveillance report has stated that economic recovery in the UK is underway, with growth projected at 1.2% in 2025 before gaining momentum next year.  

The IMF also endorsed the government’s fiscal plans which it says strike a balance between supporting growth and safeguarding fiscal sustainability, and the Growth Mission covers the right areas to lift productivity.

Since the election the government has been clear on the need to kickstart economic growth, built on stability and investment to deliver on the Plan for Change. The publication of the IMF’s first Article IV surveillance report on the UK economy since last year’s election reveals that the UK’s economic recovery is underway, and will see the third fastest economic growth in the G7 and the fastest growth among European G7 countries.  

The IMF have also endorsed the government’s fiscal framework as growth-friendly, as well as appropriately accommodating spending pressures and investment needs, while safeguarding fiscal sustainability.   

Structural reform and government strategy 

Through the Growth Mission, the government is restoring stability, increasing investment, and reforming the economy to drive up prosperity and living standards across every region of the UK.

The IMF recognised the bold reforms that we have launched since taking office in July 2024. We have been clear that planning reform is central to unlocking private investment. The IMF has stated that the UK’s new industrial strategy has real potential to unlock private investment and boost UK productivity in key sectors. 

Trade, global integration, and external environment 

Given the high level of uncertainty emanating from the external environment, the IMF has stated that the government should continue advocating for a stable global trading system and welcomes recent efforts to strike trade agreements with key partners, including the EU, India, and the US, demonstrating a commitment to finding common ground and establishing a more predictable environment for UK exporters.

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Published 25 July 2025
MIL OSI United Kingdom –
July 25, 2025

Category: Asia Pacific

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IMF supports growth agenda and fiscal framework

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