NewzIntel.com

Category: Asia Pacific

  • MIL-OSI Banking: Soledad Núñez: Embracing the future on solid grounds – reinforcing financial stability

    Source: Bank for International Settlements

    We are living in an age of profound uncertainty.

    In recent months, geopolitical actions have greatly affected the global economy. The United States imposed tariffs, leading to retaliatory measures from other countries, which disrupted global trade. In Europe, these issues are worsened by the ongoing conflict in Ukraine, which has had severe human and economic impacts since it began in 2022.

    However, the challenges do not end there. Europe’s economic performance lags behind other regions, particularly the United States and China. The Letta and Draghi reports have made this clear: Europe must act with urgency, implementing policies that drive productivity and innovation.

    The gap is particularly wide in the field of technological innovation. The world’s largest tech companies by market capitalization are either American or Asian. Not a single European startup has reached a valuation of 100 billion USD in the past fifty years. Closing this gap will require significant public and private investment.

    Investment alone isn’t enough. As Mario Draghi recently said, “Integration is our last hope.” We need not just a single market for goods, but a unified financial system where European and national authorities work together for stability.

    This principle of unity applies equally to our financial safety net. Cooperation between central banks, supervisory authorities, resolution bodies, and deposit insurers is essential.

    It is in this context that this European Forum of Deposit Insurances (EFDI) International Conference provides a valuable platform to reflect on these challenges from the perspective of financial stability.

    I would like to thank the Spanish Directorate-General for Insurance and Pension Funds and EFDI for bringing together such a distinguished line-up of speakers.

    1 European Economic Situation

    Recent episodes of protectionism, including the generalised tariffs announced by the United States and the retaliation of China, require continued attention, as they continue to have an impact on capital flows and thus on the stability of financial markets. In Europe, this difficult situation is compounded by the tensions of other conflicts in Ukraine or in the Middle East, with an unbearable and unacceptable cost in human lives.

    Against this international background of unprecedented uncertainty, as Letta and Draghi’s past diagnostic reports have already pointed out, Europe faces a structural competitiveness gap compared to the United States and China. This gap is aggravated by differences in Research and Development investment, industrial scalability and access to venture capital.

    The current climate of uncertainty and such competitiveness gap mean that the only valid response at European level is unity and swift action.

    In response, the European Commission recently launched the Competitiveness Compass, a road map to revamp the EU’s economy. It transforms Draghi’s recommendations into a concrete roadmap – backed by the political support needed to act rapidly and in a coordinated way.

    The Compass aims to close the competitiveness gap while reducing strategic dependencies for the Union. The Compass proposes measures such as a call for deepening the single market, prioritising European Union policies, reducing bureaucracy and simplifying regulatory and fiscal frameworks.

    Europe needs to act together to boost its economy. To face challenges like climate change, technological changes, and geopolitical issues, Europe must invest significantly. The Draghi report suggests an additional €750-800 billion per year is needed by 2030, especially for small and medium-sized businesses and start-ups, which can’t rely just on bank financing.

    2 Savings and Investment Union and the Single Capital Market

    One initiative deserves particular attention – and I’m sure Commissioner Albuquerque will speak to it as well: the Savings and Investment Union.

    The EU is equipped with a talented workforce, innovative companies and a large pool of household savings of around €10 trillion in bank deposits. Bank deposits are safe and easy to access, but they usually earn less money than investments in capital markets. The Savings and Investment Union will make it easier for citizens’ savings to be mobilised for productive activities both through traditional bank financing and by putting their savings to work in capital markets. In this way companies – especially innovative start-ups and SMEs – will gain greater access to finance and venture capital.

    This initiative will also help us move towards the long-standing goal of a genuine capital single market.

    These changes will not, however, be immediate. European banks, including Spanish banks, must continue to play a key role in channelling savings into productive investments. Their better competitive position allowed them to cope with the turmoil that affected US regional banks a couple of years ago as well as more recent shocks.

    It should not be forgotten that a strong regulatory framework together with robust governance and effective supervision are essential elements to contribute to a sound banking system.

    The ECB has recently launched an initiative aimed at identifying redundancies and unnecessary complexities in regulation that affect the efficiency and competitiveness of European banks. The necessary reduction of the bureaucratic burden should not, however, affect the quality of compliance and reporting standards, which have made a decisive contribution, especially in the area of capital and solvency, to the solid position that European banks enjoy today.

    Current historical low NPL ratios, high profitability and strengthened solvency ratios will allow European banks to best meet the challenges associated with the environment I have mentioned. One of these will be related to digitalisation and the use of artificial intelligence. Banks can take advantage of their good momentum to boost digitalisation and prepare for competition from new competitors.

    3 Digitalization and Technological Innovation

    The digital transformation of the banking sector is irreversible. AI, asset tokenisation, and quantum computing are already reshaping finance, and their impact will only grow. But they also introduce new risks. These risks relate to the possibility of cyber-attacks but also to the dependence of financial institutions on technology providers. The DORA Regulation establishes mandatory standards for technological risk management, focusing on cybersecurity and testing but also on the management of technological suppliers, which recognises their critical role.

    I am sure that the panellists in the conference sessions will address the relevance of this new regulatory framework, the implementation of which will require strong support from institutions, providers and of course authorities. Lessons learned in the implementation of this new regulatory framework may be useful as a reference, with appropriate proportionality, for the management of technology risk by the deposit insurers sector, as their systems and processes are exposed to similar risks.

    The transformative potential of AI for the economy in general and the financial sector in particular is obvious. The use of AI will make it possible to automate repetitive tasks, free up human resources for higher value-added activities and improve decision-making through advanced data analytics. Banking should in turn support the use of AI in its relationship with customers, personalising and improving the customer experience. However, AI management entails relevant risks that must be monitored, from the misuse or bias of models, their lack of explainability or the increase in cyber-attacks.

    The European Union has taken a decisive step in regulating these risks. The new European AI Regulation grants specific competences to national authorities for the supervision of high-risk AI systems in the financial sector, which implies additional tasks for supervisors such as the Banco de España. Again, the successful implementation of this framework will be crucial for authorities, institutions and providers.

    Let me also make a brief reference to the importance of a digital euro in the area of payments. The digital euro won’t replace cash, but will reduce dependence on big tech and thereby boost competitiveness in the Union. Card payments in Europe are dependent on foreign networks, which is a strategic weakness for the continent.

    This dependence may become even greater with the emergence of foreign providers of digital mobile wallets or the expansion of dollar-denominated stable coins. There are still important elements to be defined in the design of the digital euro, in particular how it operates with private systems. Despite some concerns for the financial sector about the cost of adaptation and balance limits – which will need to be addressed in the ongoing design phase – the digital euro will bring strategic advantages for the future of the Union.

    Also in the area of payments, it is also likely that in 2025 the future PSD3 will see the light of day. The new Directive will replace the current PSD2. Its development responds to the need to adapt regulation to the growth of electronic payments, reinforcing consumer protection in accessing digital services and reducing payment fraud. PSD3 will also impose a single authorisation and operating regime for electronic money institutions and payment institutions, with a growing presence in the financial sector.

    The new regulation will remove barriers to the entry of these competitors into payment systems. As with any innovation, its development must be accompanied by an appropriate balance of responsibilities and rights of the parties involved.

    We have also seen the adoption of the immediate transfer regulation for the euro area from early 2025, which will be implemented gradually until 2027. Since the beginning of this year, payment operators in the euro area have already been offering their customers the same or better rates for immediate and ordinary bank transfers, with the addition of verification of the identity of the beneficiary.

    I am sure that the Conference will also address the challenges and implications for deposit insurers of these innovations in the scope of their functions, in particular in the reimbursement of guaranteed balances to depositors in case of a payout event.

    4 CMDI: The role of deposit insurers

    Equally important for guarantee funds will be the framework resulting from the negotiations between the European co-legislators on the ongoing revision of the Resolution Directives (BRRD) and its Regulation (SRMR) as well as the Guarantee Funds Directive (DGSD), the Crisis Management and Deposit Insurance (CMDI) legislative package. The reform of the CMDI represents an important step towards a more integrated, resilient and, above all, better prepared Banking Union to cope with future crises, and promises important benefits in terms of financial stability and depositor protection.

    The Commission’s original proposal of April 2023 was followed by two more alternative proposals from the Council and the Parliament, in its old composition. The different proposals share the need to strengthen crisis management to protect depositors’ access to their deposits by reinforcing the use of funding mechanisms such as the Resolution Fund, the SRF for the Eurozone, and national deposit guarantee funds. The reform seeks to expand the perimeter of resolution, applying the resolution mechanisms to a greater number of credit institutions, by enabling easier access to the resolution funds thanks to the contribution of deposit guarantee funds to resolution. The contribution from private sources such as the one from deposit insurers, will complement adequately the internal bail-inable resources of the bank, without resorting to public money.

    Equally important, the CDMI proposal will review the use of guarantee fund resources for other purposes than deposit payouts, as the measures to prevent the failure of a credit institution or the alternative measures to be used in insolvency proceedings, acknowledging the effectiveness and benefits of these tools for the management of banking crises. The wider the tool-kit, the better.

    The framework will also deepen the coordination between resolution authorities and deposit guarantee schemes. Robust communication protocols, joint crisis preparedness exercises and early access to information are essential elements to ensure an effective crisis management mechanism.

    In any case, the final text should provide a framework that facilitates its effective implementation, especially important when it comes to acting decisively in a short time frame, such as the “weekend” of resolution. It should also reinforce the role of guarantee funds in the management of banking crises.

    In this regard, let me point out the importance of the role that the Spanish DGS played in crisis management of the Global Financial Crisis, which severely affected the Spanish financial sector and particularly the savings banks. The contribution of the Spanish DGS, and thus of Spanish banks, was decisive in the management of the crisis that affected these institutions from 2010. The contribution of FGD’s resources for the absorption of losses and recapitalisation amounted to 23 billion euros, approximately a third of the total granted to the sector including public aid, and it served to reduce the cost to the taxpayer.

    Since then, the FGD has been improving its financial capabilities besides its systems and processes. On the financial side, it has already reached a capitalisation level exceeding the minimum regulatory target, well complemented by a private commercial line. In the operational area, the EBA, in charge of assessing the implementation of its standards on stress testing for guarantee funds, recently published a benchmark report among 7 EU deposit insurers, including the Spanish DGS. In the report the EBA acknowledges the FGD has in place adequate arrangements to test its capacities under stressed scenarios, and therefore in good position to be prepared to face an intervention.

    5 Conclusion

    Let me conclude.

    I believe a strong crisis management framework with a flexible toolkit is essential. Equally important is the coordination among authorities before, during, and after any disruption. This means authorities and deposit insurers must act quickly, decisively, and together.

    This unity is crucial now more than ever. In a time of increasing fragmentation, both globally and regionally, Europe must respond with a single purpose and strategy, especially in maintaining financial stability.

    Today, I’ve highlighted some of the missing pieces in Europe’s financial integration – and the need for national authorities to step up. The Spanish Deposit Guarantee Fund is committed to this goal. Through its active role in European forums, it will continue to contribute to the strengthening of our shared framework.

    As Mario Draghi recently reminded us in his report presentation: “In this world, it will be only through unity that we will be able to retain our strength and defend our values.”

    I am confident that the distinguished speakers we will hear today and tomorrow will help illuminate the path ahead.

    MIL OSI Global Banks –

  • MIL-OSI Russia: Chinese Foreign Ministry: China and Central Asian countries will jointly outline a new grand plan for future development

    Translation. Region: Russian Federal

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

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

    BEIJING, June 16 (Xinhua) — At the upcoming second China-Central Asia Summit, the heads of state of China and Central Asian countries will jointly map out a new grand plan for future development and open up a wider space for jointly building the Belt and Road, Chinese Foreign Ministry spokesperson Guo Jiakun said Monday.

    He made this statement at a regular departmental press conference, answering a journalist’s question regarding the joint construction of the “Belt and Road” by China and the Central Asian countries.

    The Central Asian region is not only the place where China first put forward the Belt and Road Initiative, but also an advanced area in its high-quality joint implementation, Guo Jiakun noted, adding that China has signed cooperation documents on jointly building the Belt and Road with all five Central Asian countries and implemented a number of landmark projects with them aimed at promoting development and improving people’s well-being.

    According to him, in 2024, China’s foreign trade volume with Central Asian countries reached a record high of 674.15 billion yuan, an increase of 116 percent compared with 2013.

    Guo Jiakun noted that the China-Kazakhstan oil pipeline and the China-Central Asia gas pipeline have created a new model of win-win cooperation. The China-Tajikistan highway, China-Kyrgyzstan-Uzbekistan highway and China-Kyrgyzstan-Uzbekistan railway have taken regional connectivity to a new level. The digital economy and green transformation have expanded new areas of practical cooperation.

    In addition, China has introduced a mutual visa-free regime with Kazakhstan and Uzbekistan, the Luban Workshop projects are being implemented at an accelerated pace, and humanitarian exchanges and people-to-people ties are gaining momentum, he added.

    High-quality joint construction of the Belt and Road is becoming a key area of cooperation between China and Central Asia every day, the Chinese diplomat stressed.

    According to Guo Jiakun, the second China-Central Asia Summit will be held in the near future, where the heads of state will jointly outline a new grand plan for future development, open up a wider space for jointly building the Belt and Road, and promote the building of a closer China-Central Asia community with a shared future. -0-

    MIL OSI Russia News –

  • MIL-OSI Global: Most Americans believe misinformation is a problem — federal research cuts will only make the problem worse

    Source: The Conversation – USA – By H. Colleen Sinclair, Associate Research Professor of Social Psychology, Louisiana State University

    Americans say the government and social media companies need to do something about misinformation and disinformation. Boris Zhitkov/Getty Images

    Research on misinformation and disinformation has become the latest casualty of the Trump administration’s restructuring of federal research priorities.

    Following President Donald Trump’s executive order on “ending federal censorship,” the National Science Foundation canceled hundreds of grants that supported research on misinformation and disinformation.

    Misinformation refers to misleading narratives shared by people unaware that content is false. Disinformation is deliberately generated and shared misleading content, when the sharer knows the narrative is suspect.

    The overwhelming majority of Americans – 95% – believe misinformation’s misleading narratives are a problem.

    Americans also believe that consumers, the government and social media companies need to do something about it. Defunding research on misinformation and disinformation is, thus, the opposite of what Americans want. Without research, the ability to combat misleading narratives will be impaired.

    The attack on misleading narrative research

    Trump’s executive order claims that the Biden administration used research on misleading narratives to limit social media companies’ free speech.

    The Supreme Court had already rejected this claim in a 2024 case.

    Still, Trump and GOP politicians continue to demand disinformation researchers defend themselves, including in the March 2025 “censorship industrial complex” hearings, which explored alleged government censorship under the Biden administration.

    The U.S. State Department, additionally, is soliciting all communications between government offices and disinformation researchers for evidence of censorship.

    Trump’s executive order to “restore free speech,” the hearings and the State Department decision all imply that those conducting misleading narrative research are enemies of the First Amendment’s guarantee of free speech.

    These actions have already led to significant problems – death threats and harassment included – for disinformation researchers, particularly women.

    So let’s tackle what research on misinformation and disinformation is and isn’t.

    Misleading content

    Misinformation and disinformation researchers examine the sources of misleading content. They also study the spread of that content. And they investigate ways to reduce its harmful impacts.

    For instance, as a social psychologist who studies disinformation and misinformation, I examine the nature of misleading content. I study and then share information about the manipulation tactics used by people who spread disinformation to influence others. My aim is to better inform the public about how to protect themselves from deception.

    Sharing this information is free speech, not barring free speech.

    Yet, some think this research leads to censorship when platforms choose to use the knowledge to label or remove suspect content or ban its primary spreaders. That’s what U.S. Rep. Jim Jordan argued in launching investigations in 2023 into disinformation research.

    It is important to note, however, that the constitutional definition of censorship establishes that only the government – not citizens or businesses – can be censors.

    So private companies have the right to make their own decisions about the content they put on their platforms.

    Trump’s own platform, Truth Social, bans certain material such as “sexual content and explicit language,” but also anything moderators deem as trying to “trick, defraud, or mislead us and other users.” Yet, 75% of the conspiracy theories shared on the platform come from Trump’s account.

    Further, both Trump and Elon Musk, self-proclaimed free speech advocates, have been accused of squelching content on their platforms that is critical of them.

    Musk claimed the suppression of accounts on X was a result of the site’s algorithm reducing “the reach of a user if they’re frequently blocked or muted by other, credible users.” Truth Social representatives claim accounts were banned due to “bot mitigation” procedures, and authentic accounts may be reinstated if their classification as inauthentic was invalid.

    Research shows that conservatives are more susceptible to misinformation than liberals.
    klevo/Getty Images

    Is it censorship?

    Republicans say social media companies have been biased against their content, censoring it or banning conservatives unfairly.

    The “censorship industrial complex” hearings held by the House Foreign Affairs South and Central Asia Subcommittee were based on the premise that not only was misleading narrative research part of the alleged “censorship industrial complex,” but that it was focused on conservative voices.

    But there isn’t evidence to support this assertion.

    Research from 2020 shows that conservative voices are amplified on social media networks.

    When research does show that conservative authors have posts labeled or removed, or that their accounts are suspended at higher rates than liberal content, it also reveals that it is because conservative posts are significantly more likely to share misinformation than liberal posts.

    This was found in a recent study of X users. Researchers tracked whose posts got tagged as false or misleading more in “community notes” – X’s alternative and Meta’s proposed alternative to fact checking – and it was conservative posts, because they were more likely to include false content than liberal posts.

    Furthermore, an April 2025 study shows conservatives are more susceptible to misleading content and more likely to be targeted by it than liberals.

    Misleading America

    Those accusing misleading narrative researchers of censorship misrepresent the nature and intent of the research and researchers. And they are using disinformation tactics to do so.

    Here’s how.

    The misleading information about censorship and bias has been repeated so much through the media and from political leaders, as evident in Trump’s executive order, that many Republicans believe it’s true. This repetition produces what psychologists call the illusory truth effect, where as few as three repetitions convince the human mind something is true.

    Researchers have also identified a tactic known as “accusation in a mirror.” That’s when someone falsely accuses one’s perceived opponents of conducting, plotting or desiring to commit the same transgressions that one plans to commit or is already committing.

    So censorship accusations from an administration that is removing books from libraries, erasing history from monuments and websites, and deleting data archives constitute “accusations in a mirror.”

    Other tactics include “accusation by anecdote.” When strong evidence is in short supply, people who spread disinformation point repeatedly to individual stories – sometimes completely fabricated – that are exceptions to, and not representative of, the larger reality.

    Facts on fact-checking

    Similar anecdotal attacks are used to try to dismiss fact-checkers, whose conclusions can identify and discredit disinformation, leading to its tagging or removal from social media. This is done by highlighting an incident where fact-checkers “got it wrong.”

    These attacks on fact-checking come despite the fact that many of those most controversial decisions were made by platforms, not fact-checkers.

    Indeed, fact-checking does work to reduce the transmission of misleading content.

    Research shows little bias in choice of who is fact-checked.
    Liudmila Chernetska/Getty Images

    In studies of the perceived effectiveness of professional fact-checkers versus algorithms and everyday users, fact-checkers are rated the most effective.

    When Republicans do report distrust of fact-checkers, it’s because they perceive the fact-checkers are biased. Yet research shows little bias in choice of who is fact-checked, just that prominent and prolific speakers get checked more.

    When shown fact-checking results of specific posts, even conservatives often agree the right decision was made.

    Seeking solutions

    Account bans or threats of account suspensions may be more effective than fact-checks at stopping the flow of misinformation, but they are also more controversial. They are considered more akin to censorship than fact-check labels.

    Misinformation research would benefit from identifying solutions that conservatives and liberals agree on.

    Examples include giving people the option, like on social media platform Bluesky, to turn misinformation moderation on or off.

    But Trump’s executive order seeks to ban that research. Thus, instead of providing protections, the order will likely weaken Americans’ defenses.

    H. Colleen Sinclair receives funding from a variety of government and foundation sources. The statements and opinions included in this The Conversation article are solely the author’s. Any statements and opinions included in these pages are not those of the Social Research and Evaluation Center, the College of Human Sciences & Education, the Louisiana State University, or the LSU Board of Supervisors.

    – ref. Most Americans believe misinformation is a problem — federal research cuts will only make the problem worse – https://theconversation.com/most-americans-believe-misinformation-is-a-problem-federal-research-cuts-will-only-make-the-problem-worse-255355

    MIL OSI – Global Reports –

  • MIL-OSI Africa: African Development Bank approves €19.6 million in financing to scale up Cabo Verde’s pioneer in wind and battery storage capacity

    Source: Africa Press Organisation – English (2) – Report:

    The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a €19.6 million financing package to support the Cabeólica Phase II Expansion Project in Cabo Verde.

    The project is the country’s first renewable energy initiative to integrate wind power generation and battery energy storage systems (BESS) at scale.

    The financing includes a loan of approximately €12.6 million from the African Development Bank, and €7 million in concessional loan financing from the Bank Group-managed Sustainable Energy Fund for Africa (SEFA).

    Building on the success of the original Cabeólica power project commissioned in 2012, Phase II will add 13.5 megawatts of wind generation capacity and 26 megawatt-hours of grid-connected battery energy storage. The expansion is expected to generate over 60 gigawatt-hours of clean energy annually, eliminating expensive thermal generation and reducing carbon dioxide emissions by an estimated 50,000 tonnes annually.

    “This project is a testament to Cabo Verde’s long-term vision to decarbonize its power sector and enhance its resilience. It also demonstrates how private sector investment, facilitated by catalytic concessional financing, can deliver cost-effective, sustainable energy solutions for small island economies,” said Wale Shonibare, Director for Energy Financial Solutions, Policy and Regulations at the African Development Bank. 

    Daniel Schroth, the Bank Group’s director for Renewable Energy and Efficiency said: “SEFA’s support for the integration of battery storage into Cabo Verde’s power system enhances power security and grid reliability while reducing generation costs in Cabo Verde.” He noted that the project highlights the added value of the right mix of financing and technology to strengthen long-term power sector sustainability.

    Ayotunde Anjorin, Chairman of Cabeólica and Senior Director and CFO at Africa Finance Corporation, said: “As the first renewable energy commercial scale PPP in sub-Saharan Africa, Cabeólica  is again proud to lead this transformative expansion project comprising additional wind capacity and battery energy storage. This project underscores Cabeólica’s deep commitment to delivering reliable, clean energy infrastructure in line with national goals and priorities and continues to set a replicable model for the region.”

    Cabeólica Phase II entails five installations across four islands: a wind expansion on Santiago and BESS deployments on Santiago, Sal, Boa Vista, and São Vicente. Battery storage will support ancillary grid services such as frequency response and voltage regulation, enabling more efficient use of intermittent wind power and reducing curtailment. With Cabo Verde’s electricity system still heavily reliant on imported fossil fuels, these upgrades are expected to reduce system costs and enhance energy security.

    Owned by Africa Finance Corporation, A.P. Moller Capital, and Cabo Verdean public entities, Cabeólica S.A. is the country’s first independent power producer (IPP). Phase II of the project will be underpinned by a 20-year power purchase and storage services agreement with the national utility Electra S.A., at tariffs significantly lower than the national average generation cost.

    The project advances Cabo Verde’s goal of generating 50% of its electricity from renewables by 2030 as well as its Nationally Determined Contribution under the Paris Agreement.

    It aligns with the African Development Bank’s ‘Light Up and Power Africa’ High-5 priority, its Ten-Year Strategy, and SEFA’s Green Baseload pillar.

    – on behalf of African Development Bank Group (AfDB).

    Media Contact:
    Olufemi Terry
    Communication and External Relations Department
    media@afdb.org

    Technical Contact:
    Wole Lawuyi
    Chief Investment Officer
    Energy Financial Solutions
    c.lawuyi@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

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    MIL OSI Africa –

  • MIL-OSI USA: Amidst regional conflict, the Strait of Hormuz remains critical oil chokepoint

    Source: US Energy Information Administration

    In-brief analysis

    June 16, 2025

    Data source: U.S. Energy Information Administration analysis based on Vortexa tanker tracking
    Note: 1Q25=first quarter of 2025

    The Strait of Hormuz, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The strait is deep enough and wide enough to handle the world’s largest crude oil tankers, and it is one of the world’s most important oil chokepoints. Large volumes of oil flow through the strait, and very few alternative options exist to move oil out of the strait if it is closed. In 2024, oil flow through the strait averaged 20 million barrels per day (b/d), or the equivalent of about 20% of global petroleum liquids consumption. In the first quarter of 2025, total oil flows through the Strait of Hormuz remained relatively flat compared with 2024.

    Although we have not seen maritime traffic through the Strait of Hormuz blocked following recent tensions in the region, the price of Brent crude oil (a global benchmark) increased from $69 per barrel (b) on June 12 to $74/b on June 13. This piece highlights the importance of the strait to global oil supplies.

    Chokepoints are narrow channels along widely used global sea routes that are critical to global energy security. The inability of oil to transit a major chokepoint, even temporarily, can create substantial supply delays and raise shipping costs, potentially increasing world energy prices. Although most chokepoints can be circumvented by using other routes—often adding significantly to transit time—some chokepoints have no practical alternatives. Most volumes that transit the strait have no alternative means of exiting the region, although there are some pipeline alternatives that can avoid the Strait of Hormuz.

    Between 2022 and 2024, volumes of crude oil and condensate transiting the Strait of Hormuz declined by 1.6 million b/d, which were only partially offset by a 0.5-million b/d increase in petroleum product cargoes. The decline in oil transit through the strait partially reflects the OPEC+ decision to voluntarily cut crude oil production several times starting in November 2022, which lowered exports from Saudi Arabia, Kuwait, and the United Arab Emirates (UAE). In addition, disruptions in 2024 to oil flows around the Bab al-Mandeb Strait, which connects the Arabian Sea to the Red Sea, led Saudi Arabia’s national oil company Aramco to shift seaborne crude oil flows from the Strait of Hormuz, instead sending it over land through its East-West pipeline to ports on the Red Sea. Also, more refining capacity in the Persian Gulf states increased regional demand for crude oil and shifted some flows to local markets within the Persian Gulf.

    Flows through the Strait of Hormuz in 2024 and the first quarter of 2025 made up more than one-quarter of total global seaborne oil trade and about one-fifth of global oil and petroleum product consumption. In addition, around one-fifth of global liquefied natural gas trade also transited the Strait of Hormuz in 2024, primarily from Qatar.

    Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, June 2025, and U.S. Energy Information Administration analysis based on Vortexa tanker tracking
    Note: World maritime oil trade excludes intra-country volumes except those volumes that transit the Strait of Hormuz. LNG=liquefied natural gas. 1Q25=first quarter of 2025

    Based on tanker tracking data published by Vortexa, Saudi Arabia moves more crude oil and condensate through the Strait of Hormuz than any other country. In 2024, exports of crude and condensate from Saudi Arabia accounted for 38% of total Hormuz crude flows (5.5 million b/d).

    Alternative routes
    Saudi Arabia and the UAE have some infrastructure in place that can bypass the Strait of Hormuz, which may somewhat mitigate any transit disruptions through the strait. The pipelines do not typically operate at full capacity, and we estimate that about 2.6 million b/d of capacity from the Saudi and UAE pipelines could be available to bypass the Strait of Hormuz in the event of a supply disruption.

    Saudi Aramco operates the 5 million-b/d East-West crude oil pipeline, which runs from the Abqaiq oil processing center near the Persian Gulf to the Yanbu port on the Red Sea. Aramco temporarily expanded the pipeline’s capacity to 7.0 million b/d in 2019 when it converted some natural gas liquids pipelines to accept crude oil. In 2024, Saudi Arabia pumped more crude oil through the East-West pipeline to avoid the shipping disruptions around the Bab al-Mandeb.

    The UAE also operates a pipeline that bypasses the Strait of Hormuz. This 1.8 million-b/d pipeline links onshore oil fields to the Fujairah export terminal in the Gulf of Oman. In 2024, crude oil and condensate volumes originating in the UAE and traversing Hormuz were 0.4 million b/d less than in 2022 because refinery upgrades allowed more heavy crude oil to be refined locally. These upgrades also allowed the UAE to increase exports of its lighter crude oil grades, and use of the pipeline to the Fujairah export terminal increased. Increased use of the pipeline for day-to-day operations has limited the excess capacity available to reroute additional volumes around the Strait of Hormuz.

    Iran inaugurated the Goreh-Jask pipeline and the Jask export terminal on the Gulf of Oman (avoiding the Strait of Hormuz) with a single export cargo in July 2021. The pipeline’s effective capacity remains around 300,000 b/d. However, during the summer of 2024 Iran exported less than 70,000 b/d from ports (Bandar-e-Jask and Kooh Mobarak) using the Goreh-Jask pipeline and stopped loading cargoes after September 2024.

    Destination markets
    We estimate that 84% of the crude oil and condensate and 83% of the liquefied natural gas that moved through the Strait of Hormuz went to Asian markets in 2024. China, India, Japan, and South Korea were the top destinations for crude oil moving through the Strait of Hormuz to Asia, accounting for a combined 69% of all Hormuz crude oil and condensate flows in 2024. These markets would likely be most affected by supply disruptions at Hormuz.

    Data source: U.S. Energy Information Administration analysis based on Vortexa tanker tracking
    Note: 1Q25=first quarter of 2025

    In 2024, the United States imported about 0.5 million b/d of crude oil and condensate from Persian Gulf countries through the Strait of Hormuz, accounting for about 7% of total U.S. crude oil and condensate imports and 2% of U.S. petroleum liquids consumption. In 2024, U.S. crude oil imports from countries in the Persian Gulf were at the lowest level in nearly 40 years as domestic production and imports from Canada have increased.

    Principal contributors: Candace Dunn, Justine Barden

    MIL OSI USA News –

  • MIL-OSI: Cloudera Kicks off EVOLVE25 Global Events Series to Showcase the Future of AI

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., June 16, 2025 (GLOBE NEWSWIRE) — Cloudera, the only true hybrid platform for data, analytics, and AI will be hosting its annual series of data and AI conferences across the globe. Spanning four continents, Cloudera’s EVOLVE25 conference will gather industry visionaries, customers, and partners to explore how a unified hybrid data platform can power AI-driven innovation and transform customer experiences across industries.

    Cloudera is helping enterprises make the most of AI by combining the power of trusted data and AI analytics to drive business value. Through keynote presentations, industry sessions, interactive hands-on-labs and ‘meet the experts’ meetings, attendees will explore how to leverage AI for innovative transformation. Sponsored by Amazon Web Services (AWS) , the events will also include breakout sessions focused on:

    • Enterprise AI— how organizations are scaling AI to transform operations, improve decision-making, drive innovation, and explore the latest tools for productivity, collaboration, security, and governance.
    • Hybrid cloud—strategies for optimizing hybrid and multi-cloud environments to support AI workloads while maintaining security, compliance, and cost efficiency.
    • Modern data architecture— how next-generation data architectures can support the unique requirements of AI applications and use cases.

    There will also be an expo zone showcasing some of the industry’s most ground-breaking solutions for scalable and secure data management – enabling business-critical AI applications and real-time analytics at scale. Additionally, Mike Walsh, CEO of Tomorrow— designing companies for the 21st century—will be delivering a presentation on the intersection between disruptive technology and business leadership, translating deep tech into pragmatic recommendations for leaders.

    Cloudera’s Data Impact Awards will also be announced at EVOLVE25. These prestigious awards recognize outstanding data-driven projects that have made a significant business impact within their organizations, across industries, and globally.

    Learn more about EVOLVE25 events here. The schedule is as follows:

    • Singapore, August 7
    • São Paulo, September 3
    • New York, September 25
    • London, October 9
    • Washington, D.C, October 22
    • Dubai, November 20

    “As AI and data analytics become an undeniable necessity across enterprises, it’s important to showcase the successful use-cases and offer hands-on training to understand the full benefits of the technology,” said Charles Sansbury, CEO of Cloudera. “EVOLVE25, one of the world’s most comprehensive data and AI event series, provides a unique opportunity for customers, partners, and innovative leaders to collaborate and network, looking ahead to what’s next in data management, analytics, and AI.”

    Register for EVOLVE25 and inquire about sponsorship opportunities here.

    About Cloudera

    Cloudera is the only true hybrid platform for data, analytics, and AI. With 100x more data under management than other cloud-only vendors, Cloudera empowers global enterprises to transform data of all types, on any public or private cloud, into valuable, trusted insights. Our open data lakehouse delivers scalable and secure data management with portable cloud-native analytics, enabling customers to bring GenAI models to their data while maintaining privacy and ensuring responsible, reliable AI deployments. The world’s largest brands in financial services, insurance, media, manufacturing, and government rely on Cloudera to use their data to solve what was once impossible—today and in the future.

    To learn more, visit Cloudera.com and follow us on LinkedIn and X. Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.

    Contact
    Jess Hohn-Cabana
    cloudera@v2comms.com

    The MIL Network –

  • MIL-OSI: HERE Technologies Releases 2024 Annual Sustainability Report, Marking Five Years of ESG Progress

    Source: GlobeNewswire (MIL-OSI)

    • HERE demonstrates progress in responsible AI, emissions reductions and workforce inclusion.
    • New partnerships and customer solutions deliver measurable sustainability results.

    Amsterdam, The Netherlands – HERE Technologies, the leading location data and technology platform, today released its fifth annual Sustainability Report highlighting the company’s Environmental, Social and Governance (ESG) progress and the growing role of location intelligence in global sustainability efforts.

    The 2024 report outlines the company’s advancements in helping customers decarbonize and electrify transportation, improve operational efficiency and plan more sustainable infrastructure. HERE also advanced internal goals around emissions reduction, workforce inclusivity and the responsible use of AI. 

    “As we celebrate our 40th anniversary, we’re proud of the real-world impact our technology delivers, both in reducing emissions and helping our customers meet ambitious sustainability goals,” said Denise Doyle, Chief Product Officer and Sustainability Executive Sponsor at HERE Technologies. “Location technology plays an essential role in achieving global decarbonization targets and we’re committed to building solutions that move the world forward sustainably.”

    Highlights from HERE’s 2024 Sustainability Report include:

    Enabling the EV future. HERE is helping to ease the shift to electric vehicles globally by partnering with automakers, such as Lotus, to deliver accurate, real-time EV range information. Location data is essential to tackling “range anxiety” and making EV adoption more practical for drivers. Together, Lotus and HERE are using leading edge technology to reduce carbon emissions and improve the driver experience.

    Additionally, HERE and industry analyst firm SBD Automotive co-published the second annual EV Index, which offers critical insights to consumers, automakers and policymakers developing charging infrastructure worldwide. 

    Helping customers achieve sustainability goals. From optimizing truck and fleet operations to smarter vehicle routing, HERE solutions are used to reduce environmental impact. PSA Singapore, which operates the world’s largest transshipment hub, has developed OptETruck, a cloud-based transport management solution with features like automated scheduling and asset pooling for truck drivers within the port. Powered by HERE Tour Planning and Location Services, OptETruck allocates jobs to drivers based on their location, offering real-time optimization of routes and truck assignments. OptETruck has the potential to cut empty truck runs within the Port of Singapore by 50%, equivalent to an estimated annual reduction of 10,000 metric tons of CO2, or planting 300,000 trees.

    Using AI in a responsible way. In 2024, HERE launched a Responsible AI Office and published a Responsible AI Policy to guide the ethical use of emerging technologies. These initiatives reinforce the company’s commitments to data privacy, transparency and accountability as AI becomes more central to HERE applications and its work in supporting more sustainable transportation systems.

    Furthering commitment to reduce environmental impact. HERE remains focused on its aggressive decarbonization goals, marking progress against all emissions reduction targets in 2024. Additionally, the Chicago office joined offices in The Netherlands, Germany and Finland in transitioning to 100 percent renewable energy and HERE reduced its environmental footprint at industry events like CES.

    Strengthening employee purpose and workforce inclusivity. HERE continues to strengthen its commitment to employee engagement and inclusivity. In 2024, the company hosted Purpose Week, its largest internal activation in a decade, connecting more than 600 employees across 31 global sites in volunteer efforts with 19 nonprofit partners. HERE also launched a new employee resource group, Grace, to support colleagues with diverse disabilities, and made measurable progress toward gender parity in leadership and workforce representation.

    For more information on HERE Technologies’ sustainability initiatives and to access the full 2024 Sustainability Report, please visit https://www.here.com/about/sustainability.

    Media Contacts
    Danielle Beer, U.S.
    danielle.beer@here.com

    Dr. Sebastian Kurme, Germany
    sebastian.kurme@here.com

    Vanessa Lee, APAC
    vanessa.lee@here.com

    About HERE Technologies
    HERE has been a pioneer in mapping and location technology for 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. From autonomous driving and seamless logistics to new mobility experiences, HERE allows its partners and customers to innovate while retaining control over their data and safeguarding privacy. Find out how HERE is moving the world forward at here.com. 

    Attachment

    The MIL Network –

  • India joins elite global group for Rinderpest Containment as ICAR-NIHSAD Bhopal earns category A status

    Source: Government of India

    Source: Government of India (4)

    India has secured a prestigious position in global animal health with the designation of the ICAR-National Institute of High Security Animal Diseases (NIHSAD) in Bhopal as a Category A Rinderpest Holding Facility (RHF) by the World Organisation for Animal Health (WOAH) and the United Nations’ Food and Agriculture Organization (FAO). The recognition was The achievement highlights India’s commitment to international disease control standards and reinforces its pivotal role in safeguarding global animal health.

    At the 92nd General Session of WOAH in Paris on May 29, 2025, where Alka Upadhyaya, Secretary of the Department of Animal Husbandry & Dairying (DAHD) and India’s WOAH Delegate, received the certificate from WOAH’s Director General.

    Rinderpest, historically known as “cattle plague,” was a devastating livestock disease eradicated globally in 2011. To prevent its re-emergence, WOAH and FAO restrict the storage of Rinderpest Virus-Containing Material (RVCM) to a select few high-security laboratories worldwide. ICAR-NIHSAD, a Biosafety Level-3 (BSL-3) facility and WOAH reference laboratory for avian influenza, was designated as India’s RVCM repository in 2012. Following a rigorous evaluation in March 2025 by international experts, the institute earned Category A RHF status for one year, affirming its robust biosafety measures, effective inventory management, and preparedness for emergencies.

    This milestone places India among an elite group of six global facilities tasked with securely managing rinderpest virus material, underscoring the nation’s leadership in animal health, biosecurity, and the One Health framework. “India’s role in eradicating rinderpest was historic, and today, preserving that legacy is equally critical. This recognition reflects our responsibility and readiness,” said Ms. Alka Upadhyaya. The international committee also urged India to pursue Category B designation by focusing on vaccine seed material, further strengthening its global standing.

  • Israel says Tehran residents to ‘pay price’ after Tel Aviv, Haifa attacks

    Source: Government of India

    Source: Government of India (2)

    srael and Iran kept up their attacks, killing and wounding civilians and raising concern among world leaders at a G7 meeting in Canada this week that the biggest battle between the two old enemies could lead to a broader regional conflict.

    The Iranian death toll in four days of Israeli strikes, carried out with the declared aim of wiping out Iran’s nuclear and ballistic missile programs, had reached at least 224, with 90% of the casualties reported to be civilians, an Iranian health ministry spokesperson said.

    Early on Monday, the Israeli military said it had detected more missiles launched from Iran towards Israel.

    “At this time, the (Israeli Air Force) is operating to intercept and strike where necessary to eliminate the threat,” the Israeli Defence Forces said. Live video footage showed several missiles over Tel Aviv and Reuters witnesses said explosions could be heard there and over Jerusalem.

    At least 10 people in Israel, including children, have been killed so far, according to authorities there.

    Group of Seven leaders began gathering in the Canadian Rockies on Sunday with the Israel-Iran conflict expected to be a top priority.

    German Chancellor Friedrich Merz said his goals for the summit include for Iran to not develop or possess nuclear weapons, ensuring Israel’s right to defend itself, avoiding escalation of the conflict and creating room for diplomacy.

    “This issue will be very high on the agenda of the G7 summit,” Merz told reporters.

    Before leaving for the summit on Sunday, U.S. President Donald Trump was asked what he was doing to de-escalate the situation. “I hope there’s going to be a deal. I think it’s time for a deal,” he told reporters. “Sometimes they have to fight it out.”

    Iran has told mediators Qatar and Oman that it is not open to negotiating a ceasefire while it is under Israeli attack, an official briefed on the communications told Reuters on Sunday.

    FIRST DAYLIGHT ATTACK ON ISRAEL

    Explosions shook Tel Aviv on Sunday during Iran’s first daylight missile attack since Israel’s strike on Friday. Shortly after nightfall, Iranian missiles hit a residential street in Haifa, a mixed Jewish-Arab city, and in Israel’s south.

    In Bat Yam, a city near Tel Aviv, residents braced on Sunday evening for another sleepless night after an overnight strike on an apartment tower.

    “It’s very dreadful. It’s not fun. People are losing their lives and their homes,” said Shem, 29.

    Images from Tehran showed the night sky lit up by a huge blaze at a fuel depot after Israel began strikes against Iran’s oil and gas sector – raising the stakes for the global economy and the functioning of the Iranian state.

    Brent crude futures were up $1.04, or 1.4%, to $75.39 a barrel by 0115 GMT, having jumped as much as $4 earlier in the session. While the spike in oil prices has investors on edge, stock and currency markets were little moved in early trading in Asia on Monday.

    “It’s more of an oil story than an equity story at this point,” said Jim Carroll, senior wealth adviser and portfolio manager at Ballast Rock Private Wealth. “Stocks right now seem to be hanging on.”

    TRUMP VETOES PLAN TO TARGET KHAMENEI, OFFICIALS SAY

    In Washington, two U.S. officials told Reuters that Trump had vetoed an Israeli plan in recent days to kill Iran’s Supreme Leader Ayatollah Ali Khamenei.

    When asked about the Reuters report, Netanyahu told Fox News on Sunday: “There’s so many false reports of conversations that never happened, and I’m not going to get into that.”

    “We do what we need to do,” he told Fox’s “Special Report With Bret Baier.”

    Israel began the assault with a surprise attack on Friday that wiped out the top echelon of Iran’s military command and damaged its nuclear sites, and says the campaign will escalate in the coming days.

    The intelligence chief of Iran’s Revolutionary Guards, Mohammad Kazemi, and his deputy were killed in attacks on Tehran on Sunday, Iran’s semi-official Tasnim news agency said.

    Iran has vowed to “open the gates of hell” in retaliation.

    TRUMP WARNS IRAN NOT TO ATTACK

    Trump has lauded Israel’s offensive while denying Iranian allegations that the U.S. has taken part and warning Tehran not to widen its retaliation to include U.S. targets.

    Two U.S. officials said on Friday the U.S. military had helped shoot down Iranian missiles that were headed toward Israel.

    The U.S. president has repeatedly said Iran could end the war by agreeing to tough restrictions on its nuclear program, which Iran says is for peaceful purposes but which Western countries and the IAEA nuclear watchdog say could be used to make an atomic bomb.

    The latest round of nuclear negotiations between Iran and the U.S., due on Sunday, was scrapped after Tehran said it would not negotiate while under Israeli attack.

    (Reuters)

  • MIL-OSI Europe: Young people from Central Asia, Afghanistan and Mongolia build knowledge on security sector governance and reform, safety of journalists at OSCE-DCAF summer school

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Young people from Central Asia, Afghanistan and Mongolia build knowledge on security sector governance and reform, safety of journalists at OSCE-DCAF summer school

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    MIL OSI Europe News –

  • MIL-OSI Russia: This Time Must be Different: Lessons from Sri Lanka’s Recovery and Debt Restructuring

    Source: IMF – News in Russian

    Opening Remarks by the IMF First Deputy Managing Director Gita Gopinath Conference on “Sri Lanka’s Road to Recovery: Debt and Governance” Shangri-La Hotel Colombo

    June 16, 2025

    Excellencies, distinguished guests, colleagues, and friends,

    It is a great honor to join you today for this important conference which takes place at a critical juncture in Sri Lanka’s economic journey.

    This conference comes not only at the mid-point of Sri Lanka’s IMF-supported economic reform program, but also at a moment when the global economy is facing powerful crosscurrents—slowing growth, rising tariffs, and a rapidly changing global economic order alongside profound uncertainty. Countries are being tested by shocks that are more frequent and more complex. The challenge for all of us is to build resilience in a world that demands it.

    Achievements Resulting from Reforms Supported by the IMF-EFF Program

    In this light, Sri Lanka’s experience stands out—both for the severity of the crisis the country experienced three years ago, and the remarkable progress that has been achieved in a very short time. The crisis was precipitated by years of declining tax revenues, depleted foreign exchange reserves and an explosive and unsustainable increase in public debt as growth collapsed. There were long lines for fuel, severe shortages of basic goods, record inflation, and widespread power outages. For many households, daily life became an exercise in hardship.

    Today, thanks to bold reforms and the commitment of the Sri Lankan people, substantial progress has been made to restore macroeconomic stability and reduce hardships faced by people. Fuel, cooking gas, and medicines are available again. Inflation has been brought under control and economic growth has returned—expanding by 5 percent in 2024. On the fiscal front, the government has achieved an extraordinary adjustment and tax revenues have increased by more than two-thirds as a share of GDP.

    The government has also put a strong emphasis on improving governance, which is fundamental for establishing trust with citizens and ensuring sustained growth. Important milestones have been achieved including central bank independence, improving public financial management, and strengthening the legal framework for anti-corruption.  Our analysis shows that comprehensive fiscal governance and accountability reforms in Sri Lanka can boost GDP by more than 7 percent and reduce the debt-to-GDP ratio by more than 6 percentage points over 10 years.

    Sri Lanka also took the difficult but necessary decision to default on its public debt and pursue a sovereign debt restructuring. These decisive actions on debt have helped ease the burden on the country. External creditors have forgiven $3 billion in debt and restructured another $25 billion, extending repayment over two decades at lower interest rates. Sri Lanka’s bonds are once again included in global indices, and its credit rating has improved.

    The experience of Sri Lanka holds important lessons for the world, and I would like to speak to the lessons from its debt restructuring.

    I. The Nexus between Economic Reforms and Debt Restructuring

    Sri Lanka’s debt restructuring had to deal with several challenges:

    1. Calibrating the restructuring targets to deliver sufficient debt relief. This was a complex endeavor. As with all restructurings, debt sustainability needs to be restored through a combination of debt relief and policy adjustments, such as fiscal effort. The targets must be carefully calibrated to consider country specific circumstances. In Sri Lanka’s case, the targets considered the severity of the crisis while also recognizing the country’s high levels of private savings, tourism receipts and remittances. Through this restructuring, over the next decade, external debt service as a share of GDP is reduced by a half, and external and total debt stock will fall by 27 and 34 percentage points of GDP respectively.
    2. Facilitating collaboration in a complex external creditor landscape. A full range of official creditors needed to find ways to coordinate, and not all creditors had the internal processes in place to deliver swiftly. The Official Creditor Committee chaired by France, India and Japan shepherded many creditors together and China informally coordinated with this group. Still there were challenges in the sharing of information across creditor groups and concerns about comparability of treatment across official bilateral creditors. To help move the process along, the IMF staff were very active in providing information and using IMF “good offices” on an ongoing basis to support coordination.
    1. Containing financial and social stability risks from the restructuring. A large share of Sri Lanka’s debt is domestic. The authorities recognized that external debt relief by itself would be unlikely to restore debt sustainability and domestic debt needed to be part of the restructuring effort. This had to be tackled carefully because of the significant exposure of Sri Lanka’s domestic financial sector, the central bank and the public pensions vehicle to government debt. To preserve financial and social stability, the authorities avoided nominal debt reductions and focused on lowering interest rates and lengthening maturities.

    The Sri Lankan debt restructuring experience provides several lessons that will help make the process simpler for other countries that need restructuring in the future. Sri Lanka’s experience better illuminated the trade-offs in setting debt targets and directly led to the development of improved methodologies for evaluating state contingent features in debt contracts. It helped creditors learn how to improve coordination and gave them new instrument designs to contemplate. Together with other recent restructuring cases, it helped motivate important reforms to IMF’s debt policies.

    Over time, there have been other important improvements in the sovereign debt architecture. The IMF, Bank and G20 Presidency convened the Global Sovereign Debt Roundtable to help serve as a forum for creditor dialogue and generate consensus on difficult issues that arise in restructurings. An important recent output of these efforts is a restructuring playbook, published at the time of our Spring Meetings, which lays out the typical steps in a restructuring and an indicative timeline. It is important to recognize that, thanks to these initiatives, experiences, and the G20 Common Framework, the restructuring process has become faster. In the recent case of Ghana’s, it took five months to get from an IMF staff level agreement to delivering the financing assurances required for program approval—roughly half the time it took for Chad in 2021 and Zambia in 2022. Looking ahead, let me assure you that our work on improving the timeliness and effectiveness of the global debt architecture will continue.

    For Sri Lanka, the experience with the debt restructuring drives home the importance of managing the economy such that a similar situation will never arise again.

    II. Important to Stay the Course

    Let us be clear: none of the achievements thus far would have been possible without the courage and sacrifice of the Sri Lankan people. The crisis was costly and painful, particularly for the poor. The reforms undertaken to address the root causes of the crisis—adjustments in taxation, the removal of unsustainable subsidies, efforts to restore cost-reflective energy pricing—have asked a great deal from ordinary citizens. These are difficult measures. They test the social fabric. And yet, they are the foundation of a more resilient future.

    That is why we must now turn our focus from crisis response to sustainable recovery. There is a lot that is still needed. Poverty rates at 24.5 percent in 2024, according to the latest World Bank estimates, are too high and need to be brought down quickly. This requires continued macroeconomic stability and successful implementation of structural reforms. Tackling corruption will require major reforms. Implementing the government’s action plan on governance reforms is critical. While much has been done to reduce external debt, domestic debt is still high and steadfast implementation of sound fiscal policy is critical to continue bringing it down.

    None of this will be easy. In addition to the domestic challenges, the global environment is difficult with tariffs, geopolitical conflict and economic fragmentation posing major risks for small open economies like Sri Lanka’s.

    This is why there is no room for policy errors. As the IMF Managing Director noted during our Spring Meetings in April: the choice facing countries today is between reform and regret. Between building buffers—or risking future crises.

    Sri Lanka’s reform program has delivered strongly. But history reminds us of the risks. Of the 16 IMF programs Sri Lanka has engaged in over the years, about half ended prematurely. Often, reform fatigue sets in. Hard-earned gains were reversed. Growth faltered. The country cannot afford to repeat that cycle.

    Let me therefore underscore how essential it is to sustain the reform momentum, and in a manner that is inclusive and accountable. Public dialogue matters. Transparency matters. Engaging civil society and listening to diverse voices—not just in Colombo, but across the island—will help ensure that policies are responsive and responsible. This conference is exactly the kind of platform that can foster such engagement. It is a space to reflect, to challenge assumptions, and to build consensus. The IMF will remain a steadfast partner as Sri Lanka pursues stable and inclusive growth that improves the lives of all citizens and future generations.

    This time must be different! As President Dissanayake has said, let us ensure this is the last IMF program Sri Lanka will need.

    We agree, and believe this is possible if Sri Lanka stays the course.

    Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/06/16/sp061625-gg-this-time-must-be-different-lessons-from-sri-lankas-recovery-and-debt-restructuring

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Europe: ASIA/MYANMAR – The Vicar of Mandalay: “We thank Pope Leo for his words and his attention to the suffering of the civilian population”

    Source: Agenzia Fides – MIL OSI

    Archdiocese of Mandalay

    Mandalay (Agenzia Fides) – “Throughout Myanmar, there are areas where fighting is taking place, where people are displaced, where civilians are suffering great hardship while fleeing the conflict. In our Diocese of Mandalay, in particular, the Sagaing area is the most affected by clashes, bombings, and immense suffering of the civilian population,” Fr. Peter Sein Hlaing Oo, Vicar General of the Archdiocese of Mandalay in north-central Myanmar, told Fides. The Vicar General and the entire local Church appreciate the words of Pope Leo XIV, who, during the Sunday Angelus prayer yesterday, June 15, recalled the ongoing fighting in Myanmar. “We thank him for his words and his attention to the suffering of the civilian population,” he said. The Catholic priest tells Fides about the situation in Sagaing: “Many villages have been abandoned or reduced to rubble due to the constant bombing. The helpless people do not know where to find refuge. There are Catholic churches and parishes in this area, and all of them are in serious difficulty. We have Catholic believers in both the regime-controlled areas and those controlled by the resistance. And there are believers who are caught in the crossfire. The people are helpless and defenseless. But our priests are courageously working for the people, especially the elderly, women, and children, who often lack even the bare necessities to support themselves. Together with religious and catechists, they are providing social services in areas that are very dangerous because they have been affected by the firefights.” “We continue to pray every day, hold Masses and prayer vigils for our people, for peace, for the future of the nation,” the Vicar General concluded. “We continue to trust in God in this terrible situation. And let us not forget that in Mandalay, in addition to the war, we are also experiencing the devastating effects of the earthquake.” Also speaking to Fides, Joseph Kung, a Catholic from Yangon, who is active in the local Church and teaches at a private university, added: “As the Pope has noted, civilian infrastructure continues to be attacked and destroyed by the army throughout the country. The most painful thing is when schools are attacked, when pupils and students are attacked, young people who only wanted to continue their education.” “There is still so much pain and outrage over the massacre a month ago, when an airstrike on the village of Oe Htein Kwin in the Sagaing region killed 20 pupils and two teachers,” he emphasized.”Among the areas most affected by the conflict are Sagaing, Rakhine State, and areas in Chin and Kachin States. We are constantly receiving reports from the dioceses of Bamaw and Myitkyina, both in Kachin, where many villages have been destroyed and civilians continue to be displaced,” he continues. Kung concludes: “We are grateful to Pope Leo for his appeals. When the Pope mentions Myanmar, it gives us hope because we know we are not alone and abandoned. The population is exhausted and scarred by four years of civil war. We wait and pray every day, placing our suffering in the hands of God and the Virgin Mary.” (PA) (Agenzia Fides, 16/6/2025)
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    MIL OSI Europe News –

  • MIL-OSI Europe: ASIA/MYANMAR – The Vicar of Mandalay: “We thank Pope Leo for his words and his attention to the suffering of the civilian population”

    Source: Agenzia Fides – MIL OSI

    Archdiocese of Mandalay

    Mandalay (Agenzia Fides) – “Throughout Myanmar, there are areas where fighting is taking place, where people are displaced, where civilians are suffering great hardship while fleeing the conflict. In our Diocese of Mandalay, in particular, the Sagaing area is the most affected by clashes, bombings, and immense suffering of the civilian population,” Fr. Peter Sein Hlaing Oo, Vicar General of the Archdiocese of Mandalay in north-central Myanmar, told Fides. The Vicar General and the entire local Church appreciate the words of Pope Leo XIV, who, during the Sunday Angelus prayer yesterday, June 15, recalled the ongoing fighting in Myanmar. “We thank him for his words and his attention to the suffering of the civilian population,” he said. The Catholic priest tells Fides about the situation in Sagaing: “Many villages have been abandoned or reduced to rubble due to the constant bombing. The helpless people do not know where to find refuge. There are Catholic churches and parishes in this area, and all of them are in serious difficulty. We have Catholic believers in both the regime-controlled areas and those controlled by the resistance. And there are believers who are caught in the crossfire. The people are helpless and defenseless. But our priests are courageously working for the people, especially the elderly, women, and children, who often lack even the bare necessities to support themselves. Together with religious and catechists, they are providing social services in areas that are very dangerous because they have been affected by the firefights.” “We continue to pray every day, hold Masses and prayer vigils for our people, for peace, for the future of the nation,” the Vicar General concluded. “We continue to trust in God in this terrible situation. And let us not forget that in Mandalay, in addition to the war, we are also experiencing the devastating effects of the earthquake.” Also speaking to Fides, Joseph Kung, a Catholic from Yangon, who is active in the local Church and teaches at a private university, added: “As the Pope has noted, civilian infrastructure continues to be attacked and destroyed by the army throughout the country. The most painful thing is when schools are attacked, when pupils and students are attacked, young people who only wanted to continue their education.” “There is still so much pain and outrage over the massacre a month ago, when an airstrike on the village of Oe Htein Kwin in the Sagaing region killed 20 pupils and two teachers,” he emphasized.”Among the areas most affected by the conflict are Sagaing, Rakhine State, and areas in Chin and Kachin States. We are constantly receiving reports from the dioceses of Bamaw and Myitkyina, both in Kachin, where many villages have been destroyed and civilians continue to be displaced,” he continues. Kung concludes: “We are grateful to Pope Leo for his appeals. When the Pope mentions Myanmar, it gives us hope because we know we are not alone and abandoned. The population is exhausted and scarred by four years of civil war. We wait and pray every day, placing our suffering in the hands of God and the Virgin Mary.” (PA) (Agenzia Fides, 16/6/2025)
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  • MIL-OSI: Athene Announces Key Leadership Appointments Aligned with Five-Year Growth Plan

    Source: GlobeNewswire (MIL-OSI)

    Company Veteran Grant Kvalheim Named Chief Executive

    Jim Belardi Named Executive Chair, Will Continue to Serve as CIO

    Mike Downing and Sean Brennan Named Co-Presidents of Athene USA

    WEST DES MOINES, Iowa, June 16, 2025 (GLOBE NEWSWIRE) — Athene, the leading retirement services company and subsidiary of Apollo Global Management, Inc. (NYSE:APO), announced today that its Board of Directors has appointed Grant Kvalheim as Chief Executive Officer, effective July 1, 2025. Kvalheim, a 14-year veteran of Athene, most recently served as President, with responsibility for running the company’s U.S. operations, as well as growth initiatives. Jim Belardi, Co-founder, was named Executive Chairman and will remain Chief Investment Officer.

    Athene also announced that Mike Downing and Sean Brennan will be elevated to Co-Presidents of Athene USA. Downing will continue to serve as Athene’s Chief Operating Officer while Brennan will serve as Athene’s Chief Commercial Officer. Downing and Brennan will build upon Athene’s significant growth to date and drive plans to increase financial security for individuals and serve as a solutions provider to corporations.

    These appointments represent a natural evolution in Athene’s leadership and are aligned with the company’s ambitious five-year growth plan as announced at its 2024 Investor Day. To capitalize on the significant market opportunities ahead and drive growth, the company continuously works to elevate and align leaders both in senior leadership and next generation roles.

    Belardi said, “There is no one better positioned than Grant to lead the company through its next phase of growth. Grant, Mike and Sean have been instrumental to Athene’s tremendous success to date, and our market leadership directly reflects their efforts to grow our business by expanding distribution, creating best-in-class product offerings and establishing us as a partner of choice. My partnership with Grant has been critical to Athene’s success and I am pleased it will continue.”  

    Kvalheim said, “There is a massive opportunity ahead for Athene, driven by the growing retirement crisis in the U.S. and the need for guaranteed lifetime income. I look forward to leading Athene as our team meets this unprecedented need by expanding market share, prioritizing innovation, entering new markets and accelerating growth in the defined contribution channel. Athene is uniquely positioned to help an even greater number of people build remarkable retirements.”

    Kvalheim joined Athene in 2011 and has served as President since April 2022, leading its U.S operating companies with a focus on growing organic origination. Prior to joining Athene, Kvalheim was Co-President of Barclays Capital where he grew the European investment grade credit business into a leading global credit franchise across both securitized and non-securitized credit products. Prior to joining Barclays, he held senior executive positions in the investment banks of Deutsche Bank and Merrill Lynch.

    Since joining Athene in 2015, Downing has served as Executive Vice President and Chief Actuary and was elevated to Chief Operating Officer in January 2022. Before joining Athene, Downing held senior executive roles at The Allstate Corporation from 2008-2015. Previously, Downing was a Senior Partner at Aon Hewitt, leading the International Consulting practice following assignments in the UK and Switzerland.

    Brennan joined Athene in 2017 and has served as an Executive Vice President since 2020, with responsibility for various retirement services and reinsurance efforts. Prior to joining Athene, he served as Global Pensions Director for Marsh & McLennan Companies, Inc., and previously spent 14 years with Mercer, most recently as Partner in its Financial Strategy group.

    About Athene

    Athene is the leading retirement services company with over $380 billion of total assets as of March 31, 2025, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit www.athene.com.

    Forward-Looking Statements

    This press release contains, and certain oral statements made by Athene’s representatives from time to time may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks, uncertainties and assumptions that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. These statements are based on the beliefs and assumptions of Athene’s management and the management of Athene’s subsidiaries. Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” “should,” or “continues” or similar expressions. Forward-looking statements within this press release include, but are not limited to, statements regarding future growth prospects and financial performance. Although Athene management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. For a discussion of other risks and uncertainties related to Athene’s forward-looking statements, see its annual report on Form 10-K for the year ended December 31, 2024, which can be found at the SEC’s website www.sec.gov. All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Athene does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

    Contact:

    Jeanne Hess
    VP, External Relations
    +1 646 768 7319
    jeanne.hess@athene.com

    The MIL Network –

  • MIL-OSI: Wedbush Financial Services Acquires Minority Interest in Trigon, Establishing a Strategic Partnership to Expand Global Reach and Enhance Client Solutions

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, June 16, 2025 (GLOBE NEWSWIRE) — Wedbush Financial Services (WFS), a diversified financial services holding company and parent of Wedbush Securities (WS), and Trigon, a leading Central and Eastern European (CEE) investment banking firm, today announced a strategic partnership in which WFS has acquired a significant minority equity stake in Trigon.

    Through the partnership with WS, Trigon clients will benefit from broader access to global investors, increased ability to lead cross-border equity capital market transactions—including IPOs—and participation in Wedbush-hosted investor conferences and research-driven events. Joint teams from both firms will collaborate on select investment banking mandates, delivering seamless advisory and execution across jurisdictions.

    In tandem, WS establishes a strategic foothold in the fast-growing CEE region, furthering its global strategy, which includes partnerships with leading Asian firms—Maybank Investment Bank, Hana Securities, Yuanta Securities, SK Securities, and Okasan Securities Group—as well as its investment in Velocity Trade. With its growing network of alliances, WS is positioned to support clients across a broader global footprint, navigating complex, multi-market opportunities with integrated, cross-border solutions.

    “We are pleased to welcome Wedbush as a significant minority strategic investor,” said Andrzej Sykulski, Co-founder and Managing Partner at Trigon. “This partnership marks a key milestone in Trigon’s repositioning as a truly global investment banking platform. With expanded access to global markets—particularly the U.S., Canada and Asia—and strengthened cross-border execution capabilities, our clients will benefit from broader investor reach and deeper research coverage. We view Wedbush as a culturally aligned partner that shares our client-first mindset and long-term vision.”

    “We are honored and proud to become a strategic investor in Trigon,” said Gary Wedbush, President & CEO of WFS. “Their leadership position across the CEE, investment banking prowess, and authentic client service culture make them an ideal partner for our global growth strategy. Together, we will offer clients worldwide capabilities with deep local expertise and relentless service.”

    Trigon will continue to operate independently under its current leadership, preserving its entrepreneurial culture, brand, and decision-making structure.

    About Wedbush Financial Services

    Wedbush Financial Services is a diversified financial services holding company. The firm, through WS, provides a wide range of services including investment banking, multi-asset clearing, prime brokerage, wealth management, and brokerage services to both private and institutional clients. Headquartered in Los Angeles, California, WS operates over 100 registered offices and employs nearly 900 professionals. Known for its bespoke client service and use of advanced technology, Wedbush is committed to delivering high-performance solutions across the full range of financial services. Securities and investment advisory services are offered through Wedbush Securities Inc. Member NYSE/ FINRA / SIPC

    About Trigon

    Trigon is a leading independent investment banking firm operating in Poland and Central and Eastern Europe since 1989. With a team of over 120 professionals, Trigon specializes in delivering comprehensive advisory services that help clients achieve their strategic goals. The firm is renowned for its deep market understanding, client-first approach, and a track record of executing complex transactions. Trigon’s commitment to excellence has been recognized through numerous accolades, including multiple Euromoney Awards for Excellence, underscoring its position as a trusted partner in the region’s financial landscape.

    Media Inquiries:
    Serina Molano
    publicrelations@wedbush.com
    213-688-4564

    The MIL Network –

  • MIL-OSI: American Rebel Light Beer Expands into Virginia with Valley Distributing – Distribution Momentum Accelerates Nationwide

    Source: GlobeNewswire (MIL-OSI)

    With a New Agreement for Southwestern Virginia and Active Distribution across 11 States Since Launching in September 2024, American Rebel Light Beer – America’s Patriotic Beer Continues its Rapid Rise as America’s Fastest Growing Beer

    NASHVILLE, TN,, June 16, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel, proudly reports that American Rebel Beer has signed a distribution agreement with Valley Distributing Corporation (valleydist.net). Through this agreement, American Rebel Light Beer will now be available in Alleghany, Botetourt, Craig, Roanoke, Montgomery, Giles, Pulaski, Floyd, Franklin, and Bedford counties, proudly reaching more patriotic Americans who believe in great taste and greater values.

    Founded by David Hutchinson Sr. in 1974 after years as a brewery rep with Stroh Brewery, Valley Distributing began operations in Salem, VA in January 1975. What started with distribution rights to Salem, Roanoke, and ten nearby counties quickly grew into one of the region’s most successful wholesalers. After securing the Coors Brewing Company portfolio in 1983, Valley hit its stride, expanding further with brands like Schlitz, Old Milwaukee, Guinness, Dos Equis, Yuengling, and craft favorites such as Flying Dog and Highland Brewing. Today, under the leadership of Jeff and Patrick Hutchinson, Valley remains a powerhouse rooted in service, expertise, and an unwavering commitment to quality.

    “This partnership with Valley Distributing is a perfect match,” said Todd Porter, President of American Rebel Beverage. “They understand what we stand for: quality, community, and country. Together, we are raising a toast to the American spirit – one cold can at a time.”

    “Valley Distributing is excited to partner with American Rebel Beverages and add another quality brand to our expanding portfolio in Southwestern Virginia,” said John Swanson, Sales Manager at Valley Distributing. “We’re confident that American Rebel Light Beer will resonate with consumers who value both a great-tasting beer and the values behind it.”

    “American Rebel Light Beer is brewed with pride and purpose – to celebrate this country and the people who make it great,” said Andy Ross, CEO of American Rebel. “Partnering with Valley Distributing gives us a strong, respected ally in getting our patriotic message and our beer into more hands across Virginia. We have spent some time with the Valley Distributing team and they understand what America’s Patriotic, God Fearing, Constitution Loving, National Anthem Singing, Stand Your Ground Beer is all about. Four-time NHRA World Champion and American Rebel Beer sponsored driver Matt Hagan and his family are based out of Virginia and adding Virginia to our list of states that we are available in was very important to us. This is more than business, it’s a movement.”

    American Rebel Light Beer is gearing up for a summer packed with bold flavor, proud moments, and all-American refreshment.– with a bold national ad campaign, key event sponsorships, and rapidly growing demand – Valley’s heritage and hometown strength ensure that the crisp refreshment of American Rebel Light Beer will make a powerful mark in the Commonwealth of Virginia.

    Let Freedom Pour – Celebrate the 4th of July with Free Shipping!

    Now through the end of June, American Rebel Light Beer is offering Free Shipping so our Patriotic Consumers can taste freedom this Fourth of July! Whether you’re grilling with family, watching fireworks, or raising a toast to our great nation, enjoy the crisp, clean, bold taste of America’s Patriotic Beer – delivered right to your door at no extra cost.

    Stock up today and let freedom ring with every sip!
    Purchase now at: https://shop.americanrebelbeer.com

    About American Rebel Light Beer

    American Rebel Light is more than just a beer – it’s a celebration of freedom, passion, and quality. Brewed with care and precision, our light beer delivers a refreshing taste that’s perfect for every occasion.

    Since its launch in September 2024, American Rebel Light Beer has rolled out in Tennessee, Connecticut, Kansas, Kentucky, Ohio, Iowa, Missouri, North Carolina, Florida, Indiana and now Virginia and is adding new distributors and territories regularly. For more information about the launch events and the availability of American Rebel Beer, please visit americanrebelbeer.com or follow us on our social media platforms (@americanrebelbeer).

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    For more information about American Rebel Light Beer follow us on social media @AmericanRebelBeer.

    For more information, visit americanrebelbeer.com.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebelbeer.com. For investor information, visit americanrebel.com/investor-relations.

    Watch the American Rebel Story as told by our CEO Andy Ross visit The American Rebel Story.

    Media Inquiries:

    Matt Sheldon
    Matt@Precisionpr.co
    917-280-7329

    American Rebel Holdings, Inc.

    info@americanrebel.com

    ir@americanrebel.com

    American Rebel Beverages, LLC

    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of our continued sponsorship of high profile events, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2025. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Attachment

    The MIL Network –

  • MIL-OSI China: Xi meets Kazakh President Kassym-Jomart Tokayev

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

    Chinese President Xi Jinping met in Astana on Monday with Kazakh President Kassym-Jomart Tokayev ahead of the second China-Central Asia Summit.

    Xi arrived in the Kazakh capital of Astana earlier Monday to attend the second China-Central Asia Summit.

    MIL OSI China News –

  • MIL-OSI China: China-Central Asia freight trains soaring amid closer economic ties

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

    The whistle of a freight train echoed through Wujiashan Station in the central Chinese city of Wuhan Saturday. The train loaded with 55 containers including 10 carrying hot melt adhesive — a construction material in high demand in Central Asia — was bound for Uzbekistan.

    “Since April this year, the route from Wuhan to Central Asia has become a regular service, operating one train per week,” said Wang Ziye, business manager at a railway operation company. A week later, another train carrying 51 containers of auto parts is scheduled to depart for Uzbekistan.

    Wuhan’s new rail link is part of a broader freight train network that has rapidly expanded across the country, reflecting deepening economic and trade relations between China and Central Asian countries.

    The network has been particularly busy this year. On May 20, the northern Chinese city of Tianjin sent 50 containers of auto parts, machinery, construction materials, and home appliances to Tashkent, Uzbekistan.

    Southwestern Chongqing city dispatched in April its inaugural regular Central Asia train, loaded with polyester chips, with plans for two trains per month. In late March, Gansu Province saw its first direct train to Almaty, Kazakhstan, transporting 183 automobiles.

    Despite global trade headwinds, the China-Central Asia freight train network is thriving, acting as a vital and stable trade artery.

    In 2024, 27 Chinese provinces and cities operated 11,920 freight trains to Central Asia, an 11.3 percent increase from the previous year. The total cargo transported reached 882,712 twenty-foot equivalent units (TEUs), up 13.2 percent.

    Fu Kun, a sales manager at a Chongqing-based supply chain company, attributes this growth to complementary market demands between China and Central Asian countries. The Chinese market, especially China’s western regions, and Central Asia have growing mutual needs, driving increased trade flows, he said.

    Zhao Lixun, general manager of a freight company in Tianjin, believes that regular China-Central Asia train services have lowered costs and improved logistics efficiency and reliability.

    The freight network has created a robust trade corridor, facilitating the flow of Chinese goods like home appliances, daily necessities, and new energy vehicles into Central Asia, while also bringing Central Asian products such as fertilizers, cotton, and beef to Chinese consumers.

    China’s central and western regions, in particular, have vigorously participated in the economic and trade cooperation with Central Asia. Notably, as the latest evidence of the popularity of Central Asian goods in China’s vast market, high-quality wheat flour from Kazakhstan is now used to cook local Chinese delicacies.

    Liu Guangwu, deputy general manager of a Gansu-based international logistics company, said that trade has diversified from basic goods like aluminum and fruit to include daily necessities, auto parts, machinery, and furniture hardware.

    Official customs data show that trade between China and Central Asian countries reached a record 94.8 billion U.S. dollars in 2024, an increase of 5.4 billion U.S. dollars over the previous year.

    Ding Xiaoxing, a research fellow at the China Institutes of Contemporary International Relations, said China is now the largest trading partner and top investor for multiple Central Asian countries, noting that the country’s cumulative investment in Central Asia has surpassed 30 billion U.S. dollars. 

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Housing project priorities explained

    Source: Hong Kong Information Services

    The Housing Bureau said today it has postponed on a temporary basis the development programme of the public housing project in Fanling Area 17 after reviewing the cost-effectiveness of various housing projects under planning.

    The bureau made the statement in response to media enquiries about the housing development in Fanling Area 17, saying that it has adjusted the project’s development priority but not abandoned it.

    Based on ground investigations, the Housing Department found that the site has a complex geology with a deep bedrock layer. The bedrock level has been found at depths exceeding 80m below ground in general, with the deepest recorded at 120m below ground.

    It noted that if the site is to be used for public housing construction, deep foundation work will be involved. Preliminary estimates of the average construction cost per unit will increase by 60% to 90%, and the construction period will be lengthened by at least 10 months.

    Upon reviewing different housing construction projects, the Housing Department has decided to prioritise the development of other more cost-effective public housing projects in North District, including the completion of approximately 38,000 public housing units in Fanling, Sheung Shui and Kwu Tung North in the next five years.

    The Fanling Area 17 development, which will provide 8,300 flats, was originally scheduled to be completed in the 2031-32.

    Apart from the above production in the five-year period, other projects will be expedited and ready for completion in the second five-year period in North District, including 13,000 and 17,000 units in Fanling North and the Kwu Tung North New Development Area.

    The Housing Bureau reaffirmed that the target supply of 308,000 public housing units in the next 10 years remains unchanged.

    It explained that the adjustment in the priority of the development on this occasion will allow the authority to focus resources on developing first the more cost-effective public housing projects in order to provide homes to those in need as soon as possible.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Stocking Up on Snacks: How Phytoplankton Prepare for the Future

    Source: US State of Connecticut

    Single-cell plants called phytoplankton have a surprising way of remembering conditions in the past to help jump-start their growth in the future, but no one is sure exactly how they do this.

    Researchers, including UConn Department of Ecology and Evolutionary Biology Assistant Professor Colin Kremer, David Anderson of the University of Hawaii, Samuel Fey and Hannah Meier of Reed College, and David Vasseur of Yale University, detail their mechanistic theory of how this phenomenon, known as phenotypic memory, works in phytoplankton in their paper published in PNAS and supported by the National Science Foundation.

    Though small, phytoplankton are hugely important because they make about as much oxygen globally as all of the oxygen-producers we usually think of like trees and grasses, says Kremer. Phytoplankton are abundant in lakes and oceans and besides acting as vital oxygen creators, they also play significant roles in global nutrient cycles and ecosystems, therefore understanding the conditions that impact their productivity is vital.

    “We’re particularly interested in how they are affected by abiotic conditions, like the amount of nutrients available in their environment and temperature, because that influences how quickly they can grow, and where different kinds of species can occur,” says Kremer.

    In recent years, researchers began to realize that predicting phytoplankton growth rates is not as straightforward as simply considering current growing conditions, says Kremer, and that past conditions also play a significant role in current growth through phenotypic memory.

    “We wanted to understand how it’s possible for them to do that,” says Kremer. “They don’t have brains, so how does this past information influence their performance?”

    A mix of green algae and diatoms, two of the major types of phytoplankton investigated in this study, as seen under a microscope. (Photo courtesy of D. Gibson)

    Kremer and his colleagues wanted to dig into this question and develop a mathematical model to help predict the growth of these important organisms. Knowing these details can help predict how quickly phytoplankton populations grow, how they convert solar energy to biomass for food webs or biofuels, and in the case of some species, predict the location and intensity of toxic algal blooms.

    Fey and Meier grew different species of phytoplankton under controlled temperature and light conditions. To manage this, Kremer says he, Vasseur, and Fey built thermal gradient blocks to use space more efficiently while also carefully altering the growing conditions for the many test tubes of phytoplankton they were working with.

    “We grew the phytoplankton in test tubes at different temperatures and then manipulated their past and present conditions by moving the test tubes to different places along that block,” Kremer explains. “Then we measure their growth by looking at how much biomass accumulated over time.”

    In the paper, lead author Anderson detailed the development of a mathematical theory to describe the mechanism of phenotypic memory. He also compared the experimental data to the theoretical model and Kremer says they were excited with how closely the relatively simple model captured the data they collected in the lab.

    “A lot of the work that I do involves trying to develop mathematical and statistical models of how things in ecology work, and very often it’s difficult to fit those mathematical models to experimental data. It’s often a real struggle, and in this case, the model just fit beautifully really early on,” says Kremer.

    “We were initially surprised by how well this model predicted the observed data because it’s relatively simple– but often in ecology, the key is to find the sweet spot between needing to measure and understand dozens of biochemical pathways to obtain an accurate predictions for a single species, versus understanding a few key processes to understand how major groups of organisms will respond to their environment,” says Fey.

    They found that the ability to store nutrients for future biomass production is integral and determines how quickly phytoplankton can grow.

    “The easiest analogy we’ve come up with for this is if you think about a phytoplankton growing in water that’s fairly cold, its ability to grow is fundamentally limited by temperature and its cellular machinery for growth,” says Kremer. “But, for a lot of these phytoplankton, while they’re not growing very quickly, they are still able to take up and store extra nutrients from their environment. It’s like stocking up on snacks and then if their environment warms up, temperature is no longer limiting how quickly they can grow, and they’ve got a ton of snacks, so it supercharges their growth for a period of time.”

    After faster growth in warmer conditions, the phytoplankton’s growth eventually slows down. Once temperatures drop again, their growth also slows since they have run out of snacks.

    “In some instances, we observe phytoplankton being able to perform Herculean feats for a few days. Even though brief, such instances may be matters of life or death for these organisms. For example, our results indicate phenotypic memory can mitigate the downsides of high temperature stress if heatwaves are initiated from cool starting conditions,” says Fey.

    “This nutrient storage or how many snacks they have on hand is a way of carrying over past information about their environmental exposure that then influences how they’re behaving at any given moment in time,” says Kremer.

    To further explore this mechanism, the next steps include measuring the quantities of different nutrients stored over time, says Kremer.

    “We’ve shown there are consistent patterns that are well explained by our new theory for different species of freshwater phytoplankton and one marine phytoplankton. We think it’s likely to be a general mechanism for different phytoplankton, but we’d like to expand how this data is collected. I also think the theory suggests many different things we can now look for in terms of what is happening physiologically within these cells to figure out if it’s the storage of nitrogen or phosphorus, or some other nutrient that drives these patterns,” says Kremer. “When we see differences between species, do they relate to differences in their ability to store nutrients?”

    Other kinds of organisms can store energy and nutrients, not just phytoplankton, and Kremer says they hope if they can begin to understand the dynamics and mechanisms of phenotypic memory in other organisms. These questions become increasingly pressing as the climate changes.

    “Abrupt temperature change has been, and will continue to be, a key experience of life of Earth. This work advances our understanding of how individuals may respond to the types of temperature perturbations that will define the 21st century,” says Fey.

    “Understanding this mechanism lets us make predictions about the consequences [of variability], and that is important,” says Kremer.  “We might be able to improve the predictive ability of ecology for different organisms in environments where temperature and resource levels are starting to become more and more variable.”

    MIL OSI USA News –

  • MIL-OSI: OMS Energy Technologies Inc. Issues Post-IPO Operational Update Featuring Customer Growth, Expansion Initiatives and R&D and Safety Achievements

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, June 16, 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 provided a business update outlining its recent accomplishments as the Company prepares for its inaugural earnings call following its successful Nasdaq listing in May 2025.

    Operational Highlights

    • New order win in Angola and renewed contract in Thailand; Southeast Asia emerging as driving force in customer acquisition
    • Expanding business footprint and growing talent pool
    • R&D achievements and partnerships steadily enriching product portfolio
    • Consistent enhancements to occupational health, safety and environmental management
    • Development initiatives fostering revenue diversification and enhancing financial stability

    Mr. How Meng Hock, CEO of OMS Energy Technologies Inc., commented, “We’re excited to begin our journey as a public company with a healthy operational foundation, underscored by thriving customer relationships and partnerships, an expanding brand presence and cutting-edge R&D and manufacturing capabilities. We are also supported by a strong balance sheet and a deep commitment to prudent financial management, positioning us to quickly and flexibly execute our development strategy when suitable opportunities arise. With our focus on exceptional service and dedication to crafting superior products, we’re confident of delivering innovative solutions to a growing, global customer base, creating value for all of our stakeholders.”

    Customer Growth and Diversification

    Offering a broad array of highly engineered products and customizable solutions for the oil and gas industry, OMS is anchored by a solid base of long-term contracts and longstanding relationships with global and local oil companies, drilling contractors, E&P and oilfield service providers across the Asia Pacific, Middle East and North Africa (MENA), and West African regions. The Company recently entered the Angola market and has secured a letter of award through its Middle East representative for the supply of surface wellhead systems to Grupo Simples Oil in the Onshore Kwanza Basin Block of KON-06 in Angola, expanding its brand presence in West Africa.

    In the Indonesian market, the Company’s marketing efforts are attracting new customers, such as PT Seleraya Belida (South Sumatra) and Pertamina Hulu Sanga Sanga (East Kalimantan), and driving steady growth in sales of surface wellhead and Christmas tree products.

    OMS’ existing customer base continues to exhibit strong loyalty. In June, PTTEP, a long-term customer in the Thailand market, signed a new three-year agreement effective July 1, 2025, further stabilizing the Company’s revenue base. The Company also inked a 10-year supply agreement with Saudi Aramco in early 2024, projected to generate an estimated $120 to $200 million annually. Moreover, the Company’s annual price agreement with Halliburton continues to fuel robust order volumes at its Malaysia and Singapore facilities.

    Geographic and Talent Pool Expansion

    OMS boasts a broad geographic footprint in the oil-rich Asia Pacific and MENA regions, with 11 manufacturing facilities strategically situated across six countries (Singapore, Malaysia, Brunei, Saudi Arabia, Thailand, and Indonesia). By hiring local citizens, producing products and services within these jurisdictions, and sourcing high-value materials locally, the Company establishes eligibility to participate in government tenders and contracts, boosting its competitive edge. Employing locals also helps the Company meet the requirements of localization programs such as IKTVA in Saudi Arabia and TKDN in Indonesia while enriching its talent pool. The Company is exploring new operating jurisdictions to increase market share and extending its reach globally through a growing number of export countries.

    Product Development & Manufacturing Advancements

    OMS’s $1.1 million investment in Additive Manufacturing (AM) research is propelling progress in the development of a metallic seal for the Company’s high-pressure-high temperature (HPHT) gate valves, a technological breakthrough that promises to promote innovation, improve supply chain efficiency and enable better material selection for critical components. To date, OMS has completed Phase 1 of its proof of concept, covering material selection, additive manufacturing methodology and stress analysis on the part for fit, form and function for using this method. The Company continues to invest in R&D, forging partnerships with top institutions such as the Singapore Institute of Manufacturing and Technology (SIMTech) to remain at the forefront of industry innovation.

    Meanwhile, the Company is steadily delivering on orders placed under its long-term agreements with Saudi Aramco and Halliburton Malaysia and Singapore, leveraging its precision manufacturing expertise and strategically-located facilities to produce mission-critical products and custom solutions with shorter lead times. A healthy, balanced manufacturing capacity utilization level empowers OMS to seamlessly meet rising demand from new and existing customers.

    Occupational Health, Safety and Environmental Management Enhancements

    Safety and environmental protection are critical to the oil and gas industry and a key cornerstone of OMS’ operations. The Company holds ISO 9001 and API Q1 quality management system certifications for all of its manufacturing sites, as well as ISO 45001-Occupational Health and Safety Management System and ISO 14001-Environmental Management System certifications. The Company recently completed the annual surveillance audit required to maintain its ISO 45001 and ISO 14001 certifications, a crucial step in the Company’s ongoing implementation of ESG programs.

    Strategic Development Initiatives

    Sustainable, long-term growth remains OMS’ top priority. The Company’s R&D collaboration with Singapore’s Agency for Science, Technology and Research (A*STAR) and SIMTech reflects its commitment to environmental sustainability, covering life cycle analysis, energy efficiency monitoring and digital transformation and innovation. OMS is also actively exploring growth and revenue diversification through acquisitions, joint ventures and strategic alliances. By driving development both organically and externally, OMS is creating a more resilient and balanced portfolio, strengthening the backbone of its business.

    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.

    Forward-Looking Statements

    The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance and include statements regarding the expected size, timing and results of the initial public offering. When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “budget,” “plan,” “seek,” “envision,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” as well as the negative of these terms and similar expressions, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.

    Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in OMS’s prospectus. OMS undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

    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 –

  • MIL-OSI Africa: African Development Bank, British International Investment and European Bank of Reconstruction and Development support pioneering solar and battery storage project in Egypt with $476 million loan

    Source: Africa Press Organisation – English (2) – Report:

    Download logo

    • Egypt’s first integrated solar and battery storage plant will deliver dispatchable clean energy, enhance grid stability, and manage peak demand. 
    • It is expected to generate approximately 3,000 GWh of clean energy and avoid up to 1.4 million tons of emissions annually, supporting Egypt’s decarbonisation goals.

    The African Development Bank (www.AfDB.org), European Bank for Development and Reconstruction (EBRD), and the British International Investment (BII), the UK’s development finance institution and impact investor, are providing $479.1 million to Obelisk Solar Power SAE, a special purpose vehicle incorporated in Egypt, and owned by Scatec ASA (http://apo-opa.co/3SSYfFL). This financing will support  the development of a 1 GW solar photovoltaic (PV) power plant integrated with a 200 MWh Battery Energy Storage System (BESS) in the country’s Nagaa Hammadi region.

    The African Development Bank Group’s financing package of $184.1 million includes $125.5 million in commercial loans, as well as concessional funding from Bank Group-managed Special Funds the Sustainable Energy Fund for Africa (SEFA) worth $20 million, and $18.6 million from the Canada-African Development Bank Climate Fund, a partnership of the African Development Bank and the Government of Canada. A further $20 million will be channelled from the Climate Investment Funds’ Clean Technology Fund through the African Development Bank. The Bank’s Board of Directors approved the funding package on 11 June 2025 (https://apo-opa.co/4le4gsV).

    EBRD will be providing a financing package of up to $173.5 million, of which US$101.9 million will benefit from a European Fund for Sustainable Development (EFSD+) first loss cover guarantee for the first 18 years, in addition to a $6.5 million grant to be provided by the EBRD Shareholder Special Fund.

    BII financing includes a US$100 million concessional loan and a US$15 million returnable grant that helps lower the overall cost of the BESS part of the project, making it more financially viable and affordable, while attracting private sector participation and creating models for future investments. BII’s financing is subject to drawn down conditions.

    The project’s blended financing of $475.6 million corresponds to approximately 80 per cent of the total estimated capital expenditure of $590 million.

    The integrated power plant will be developed by Scatec, a leading renewable energy solutions provider, and built in two phases. The first phase, with 561 MW of solar and 100 MW/200 MWh of battery storage, aims to begin operations in the first half of 2026. The second phase of 564 MW solar aims to start operations in the second half of 2026. The energy will be sold under a USD-denominated 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company, backed by a sovereign guarantee.

    Upon completion, it will be the first integrated solar photovoltaic and battery storage project of this scale in Egypt, representing a significant milestone in the country’s energy transition. Egypt aims to reach 42 per cent of renewables in its power mix by 2030. The solar power plant is estimated to generate approximately 3,000GWh per year of additional renewable power, which will enhance grid stability and manage peak demand. It will also reduce carbon dioxide emissions by up to 1.4 million metric tons annually.

    The facility will support the diversification of Egypt’s energy mix and will increase the share of renewable energy contributing to the reduction of greenhouse gas emissions and supporting the country’s decarbonisation goals.

    Egypt’s Minister of Planning, Economic Development and International Cooperation, Dr. Rania A. Al-Mashat: “The Obelisk Solar Power project represents a landmark in Egypt’s clean energy transition, not only as the first integrated solar and battery storage facility, but also as a model for innovative financing through effective multilateral partnerships. It reflects our continued efforts to scale renewable energy, enhance grid resilience, and drive forward the implementation of Egypt’s Nexus of Water, Food and Energy (NWFE) Country Platform, thus  advancing our climate ambitions and creating new opportunities for private sector engagement and sustainable development.”

    Wale Shonibare, The African Development Bank’s Director of Energy Financial Solutions, Policy, and Regulations noted: “This project exemplifies the scale of renewable energy potential across Africa and demonstrates how strong partnerships and innovative solutions can advance the energy transition and foster sustainable economic development. It has a high demonstration and replication potential for similar initiatives across the continent.”

    Iain Macaulay, Director and Head of Project Finance (Africa & Pakistan), BII said: “This agreement underscores BII’s commitment to innovative and sustainable energy solutions. The integration of battery storage with solar PV is a game-changer for Egypt’s energy sector, providing reliable and dispatchable renewable energy and reducing reliance on fossil fuels. This project not only meets Egypt’s current energy needs but also sets a precedent for future dispatchable hybrid renewable energy projects in the region.”

    Boyd Carpenter, EBRD Managing Director for sustainable Infrastructure, said: “We’re delighted to work with our longstanding partners SCATEC, African Development Bank and BII to support this transformative project, which takes Egypt’s green energy transition to another level by harnessing the power of the sun not just during the day but also at night, thanks to the combination of solar and battery storage. It addresses the growing demand for electricity and reduces the need to import expensive fossil fuels. The project contributes towards the goals of the Egypt’s flagship Nexus on Water, Food, and Energy which was launched at COP27 in Sharm El Sheikh, and for which EBRD is Egypt’s lead partner on the energy pillar.”

    Stefano Sannino, Director-General of the Directorate-General for the Middle East, North Africa and Gulf of the European Commission said: “Today, the European Union (EU) launches the EU-Egypt Investment Guarantee for Development Mechanism, a strategic platform designed to fast-track a significant pipeline of investment projects to deliver large-scale financing solutions in Egypt. This is a major milestone in the implementation of the EU-Egypt Strategic Partnership. This particular project is a concrete example of a fruitful collaboration between the EU and the EBRD for supporting green transition in the country, through a large-scale investment. The EU guarantee allows the EBRD to provide a loan alongside other financiers to finance an innovative integrated solution which can attract private investors.”

    Terje Pilskog, CEO of Scatec, the project’s operation and maintenance contractor, said: “This project marks a major milestone for Scatec. It proves our ability to deliver large-scale hybrid projects. We are proud to partner with leading development finance institutions to support Egypt’s clean energy ambitions, and we look forward to delivering this important project together with our partners.”

    – on behalf of African Development Bank Group (AfDB).

    For media inquiries please contact:
    The African Development Bank
    Olufemi Terry
    media@afdb.org

    British International Investment
    Paschorina Mortty
    press@bii.co.uk

    The European Bank for Development and Reconstruction
    Nibal Zgheib
    zgheibn@ebrd.com

    Scatec
    Meera Bhatia
    meera.bhatia@scatec.com

    Follow British International Investment on: 
    LinkedIn: http://apo-opa.co/4jPtTPq  
    X: http://apo-opa.co/4kILGJi

    Follow The European Bank for Development and Reconstruction on:
    Web: http://apo-opa.co/4kHHidA
    Facebook: http://apo-opa.co/409LVF1
    LinkedIn: http://apo-opa.co/400CnMA
    Instagram: http://apo-opa.co/45s0OGs
    Twitter: http://apo-opa.co/45vClQB 
    YouTube: http://apo-opa.co/4jQZiRu

    About British International Investment:
    British International Investment is the UK’s development finance institution and impact investor. As a trusted investment partner to businesses in Africa, Asia and the Caribbean, BII invests to create productive, sustainable and inclusive economies in our markets. Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development. The company has investments in over 1,580 businesses across 65 countries and total net assets of £8.5 billion. For more information, visit: www.BII.co.uk | watch here (http://apo-opa.co/4jOKyTr). 

    About The European Bank for Development and Reconstruction:
    The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 75 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive (http://apo-opa.co/4jWC9xg), inclusive (http://apo-opa.co/3FWLuqT), well-governed (http://apo-opa.co/4kNijpm), green (http://apo-opa.co/43Yjvin), resilient and integrated (http://apo-opa.co/3TrRBq8). 

    MIL OSI Africa –

  • MIL-OSI Russia: Chinese Foreign Ministry: China welcomes Vietnam’s accession to BRICS as a partner country

    Translation. Region: Russian Federal

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

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

    BEIJING, June 16 (Xinhua) — China welcomes Vietnam’s accession to BRICS as a partner country, Foreign Ministry spokesperson Guo Jiakun said Monday.

    The diplomat made the statement at a regular press conference when he was asked to comment on the news that Brazil, which holds the BRICS presidency, announced on Friday that it had officially accepted Vietnam as a partner country of the group.

    China welcomes Vietnam’s entry into BRICS as a partner country, Guo Jiakun said, adding that Vietnam’s participation in BRICS cooperation will not only benefit its own development, but also serve the common interests of BRICS countries and the Global South.

    “We believe that Vietnam will make a positive contribution to the BRICS mechanism,” the Chinese Foreign Ministry spokesman added.

    The new partner in the BRICS family marks a further expansion of the mechanism’s representativeness and underlines its attractiveness and influence, Guo Jiakun said.

    China stands ready to work with other BRICS member countries and partners to build a more comprehensive, close, pragmatic and inclusive partnership that promotes high-quality development of “BRICS Plus” cooperation, so as to make greater contributions to upholding multilateralism, safeguarding fairness and justice, and promoting common development, he said. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese President Xi Jinping arrived in Astana to attend the second China-Central Asia summit /more details/

    Translation. Region: Russian Federal

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

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

    Astana, June 16 (Xinhua) — Chinese President Xi Jinping arrived in the capital of Kazakhstan on Monday to attend the second China-Central Asia Summit.

    He was met at the airport by the President of Kazakhstan Kassym-Jomart Tokayev and other high-ranking officials of the country.

    After Xi Jinping’s special flight entered Kazakhstan’s airspace, it was accompanied by fighter jets from the country’s Air Defense Forces.

    Teenagers and children holding national flags of China and Kazakhstan warmly welcomed the Chinese leader.

    Accompanied by K.-Zh. Tokayev, Xi Jinping walked around the guard of honor. Helicopters with flags of both countries flew over the airport. In the VIP lounge of the airport, the heads of the two states also watched performances by Kazakh teenagers and children. –0–

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Alert issued over fake interviews

    Source: Hong Kong Information Services

    The Commerce & Economic Development Bureau today urged the public to be vigilant against deceptive online advertisements that include purported interviews with the Secretary for Commerce & Economic Development.

    The bureau made it clear that the interviews and remarks are fictitious. It also warned people not to visit any suspicious transaction platforms via links included in these advertisements or to provide personal information.

    The incident has been referred to Police for investigation. 

    MIL OSI Asia Pacific News –

  • MIL-OSI: SUNation Energy Retains Nasdaq Listing

    Source: GlobeNewswire (MIL-OSI)

    RONKONKOMA, N.Y., June 16, 2025 (GLOBE NEWSWIRE) — SUNation Energy, Inc. (Nasdaq: SUNE) (“the Company”), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today announced that, by a decision dated June 10, 2025, the Nasdaq Hearings Panel (the “Panel”) made a finding that the Company is not in violation of Nasdaq Listing Rules 5100 and 5550(a)(2), the “Public Interest Concern” and “Bid Price Rule”, respectively, which were the bases of the non-compliance and delisting notices previously provided to and disclosed by the Company.

    Accordingly, the Company is deemed to be in full compliance with the applicable Nasdaq Listing Rules, and the Panel granted the Company’s request for continued listing on The Nasdaq Stock Market LLC (“Nasdaq”) and is closing this matter.

    “We appreciate Nasdaq’s thoughtful and considered view of this matter and are very pleased to maintain our listing on Nasdaq,” said Scott Maskin, Chief Executive Officer. “We remain confident in the strength of our business, the scope of opportunities ahead of us, and our outlook for 2025.”

    About SUNation Energy, Inc.

    SUNation Energy, Inc. is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services. SUNation Energy, Inc.’s largest markets include New York, Florida, and Hawaii, and the company operates in three (3) states.

    Forward Looking Statements 

    Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company’s filings with the SEC which can be found on the SEC’s website at www.sec.gov.

    Contacts:
    Scott Maskin
    Chief Executive Officer
    (631) 350-9340
    IR@sunation.com

    The MIL Network –

  • MIL-OSI: SUNation Energy Retains Nasdaq Listing

    Source: GlobeNewswire (MIL-OSI)

    RONKONKOMA, N.Y., June 16, 2025 (GLOBE NEWSWIRE) — SUNation Energy, Inc. (Nasdaq: SUNE) (“the Company”), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today announced that, by a decision dated June 10, 2025, the Nasdaq Hearings Panel (the “Panel”) made a finding that the Company is not in violation of Nasdaq Listing Rules 5100 and 5550(a)(2), the “Public Interest Concern” and “Bid Price Rule”, respectively, which were the bases of the non-compliance and delisting notices previously provided to and disclosed by the Company.

    Accordingly, the Company is deemed to be in full compliance with the applicable Nasdaq Listing Rules, and the Panel granted the Company’s request for continued listing on The Nasdaq Stock Market LLC (“Nasdaq”) and is closing this matter.

    “We appreciate Nasdaq’s thoughtful and considered view of this matter and are very pleased to maintain our listing on Nasdaq,” said Scott Maskin, Chief Executive Officer. “We remain confident in the strength of our business, the scope of opportunities ahead of us, and our outlook for 2025.”

    About SUNation Energy, Inc.

    SUNation Energy, Inc. is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services. SUNation Energy, Inc.’s largest markets include New York, Florida, and Hawaii, and the company operates in three (3) states.

    Forward Looking Statements 

    Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company’s filings with the SEC which can be found on the SEC’s website at www.sec.gov.

    Contacts:
    Scott Maskin
    Chief Executive Officer
    (631) 350-9340
    IR@sunation.com

    The MIL Network –

  • MIL-OSI: SKYCORP SOLAR GROUP SHOWCASES ADVANCED PV Cable and CONNECTION SOLUTIONS AT SNEC 2025

    Source: GlobeNewswire (MIL-OSI)

    Ningbo, China, June 16, 2025 (GLOBE NEWSWIRE) — Skycorp Solar Group Limited (the “Company”) (NASDAQ: PN), a solar PV product provider engaged in the manufacture and sale of solar cables and solar connectors, highlighted its latest innovations at the 18th SNEC International Photovoltaic Power Generation and Smart Energy Conference & Exhibition. From June 11-13, 2025, its subsidiary, Ningbo Pntech New Energy Co., Ltd. (“PNTECH”), introduced advanced photovoltaic connection solutions, drawing substantial industry attention and reinforcing its position in renewable energy cable development.

    Commitment to Technological Advancement

    As an Asian new energy cable comoany listed in the U.S., Skycorp Solar Group has consistently invested in research and development, with over RMB100 million ($14 million) dedicated to innovation over the past 14 years. This focus has led to 47 patented technologies, including proprietary XLPE modified polymer insulation materials designed for enhanced durability in extreme temperatures (-40°C to +90°C). The Company also utilizes 99.97% pure tin-plated oxygen-free copper conductors, supporting long-term performance exceeding 25 years in demanding applications.

    “Our MC4 series connectors integrate a dual-seal design, minimizing contact resistance by 20% compared to conventional models while achieving an IP68 protection rating,” said Weiqi Huang, CEO of Skycorp Solar Group. “Additionally, our specialized connectors for the energy storage sector incorporate phosphorus-nitrogen flame-retardant technology that meets UL94 V-0 standards, providing a reliable solution for photovoltaic and energy storage applications.”

    Proven Solutions for Global Energy Projects

    Skycorp Solar Group’s technologies have been deployed in multiple international projects. The Company provides key components for Germany’s 15MW distributed photovoltaic system (utilizing TÜV-certified cables), Australia’s 120MW solar-plus-storage project (compliant with AS/NZS 5033:2024 standards), and Poland’s 48MW agrivoltaic installation, demonstrating compliance with global industry standards (featuring patented anti-UV technology).

    In China, PNTECH supplies cables and connectors for local government projects, where its patented “6-in-1” technology supports a photovoltaic curtain wall system producing 300,000 kWh annually. Longstanding collaborations with industry leaders further reflect the Company’s strong market presence.

    Production Capabilities and Industry Certifications

    Operating across more than 140 countries and regions, Skycorp Solar Group continues to advance its manufacturing capacity. Since 2022, the Company has expanded to six photovoltaic cable production lines and eight connector manufacturing lines, supported by a newly established 16,000-square-meter smart factory. Annual supply capacity for photovoltaic projects has reached 9.3GW, with cable shipments exceeding 100 million meters.

    “Our product lineup, showcased at SNEC booth 7.2H-C120, demonstrates exceptional performance and reliability,” said Jimmy Sheng, Global Sales Director of PNTECH. “All solutions adhere to international standards, which are compliant with certifications including TÜV, IEC, CE, and CQC.”

    Future Outlook and Investment Value

    “The global shift toward renewable energy is accelerating, with interconnection systems playing a vital role in efficiency and safety,” said CEO Huang. “At Skycorp, we integrate materials science and electrical engineering to enhance photovoltaic connection standards and support this transition.”

    “Skycorp plans to allocate over 8% of annual revenue to R&D, advancing from traditional connections to intelligent solutions. With 47 patents, a growing international footprint (30%+ overseas orders), a robust 9.3GW annual supply capacity, and strong industry collaborations, the Company remains focused on delivering long-term value in the evolving energy landscape,” he said.

    About Skycorp Solar Group Limited

    Skycorp Solar Group Limited is a solar photovoltaic (PV) product provider focused on manufacturing and selling solar cables and connectors. Our operations are managed through our subsidiaries, including Ningbo Skycorp Solar Co., Ltd., in China.

    The Company’s mission is to become a green energy solutions provider by utilizing solar power and delivering eco-friendly solar PV products. By leveraging the Company’s expertise in solar technologies and relationships with worldwide clients, it aims to expand offerings of solar PV products and energy solutions for enterprise customers. For more information, please visit: https://ir.skycorp.com/.

    Forward-Looking Statement

    This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

    For more information, please contact:
    Skycorp Solar Group Limited
    Cathy
    Investor Relations
    Email: ir@skycorp.com
    Tel: +86 185 0252 9641 (CN)

    WFS Investor Relations Inc.
    Connie Kang
    Partner
    Email: ckang@wealthfsllc.com
    Tel: +86 1381 185 7742 (CN)

    The MIL Network –

  • MIL-Evening Report: ‘Be brave’ warning to nations against deepsea mining from UNOC

    By Laura Bergamo in Nice, France

    The UN Ocean Conference (UNOC) concluded today with significant progress made towards the ratification of the High Seas Treaty and a strong statement on a new plastics treaty signed by 95 governments.

    Once ratified, it will be the only legal tool that can create protected areas in international waters, making it fundamental to protecting 30 percent of the world’s oceans by 2030.

    Fifty countries, plus the European Union, have now ratified the Treaty.

    New Zealand has signed but is yet to ratify.

    Deep sea mining rose up the agenda in the conference debates, demonstrating the urgency of opposing this industry.

    The expectation from civil society and a large group of states, including both co-hosts of UNOC, was that governments would make progress towards stopping deep sea mining in Nice.

    UN Secretary-General Guterres said the deep sea should not become the “wild west“.

    Four new pledges
    French President Emmanuel Macron said a deep sea mining moratorium is an international necessity. Four new countries pledged their support for a moratorium at UNOC, bringing the total to 37.

    Attention now turns to what actions governments will take in July to stop this industry from starting.

    Megan Randles, Greenpeace head of delegation regarding the High Seas Treaty and progress towards stopping deep sea mining, said: “High Seas Treaty ratification is within touching distance, but the progress made here in Nice feels hollow as this UN Ocean Conference ends without more tangible commitments to stopping deep sea mining.

    “We’ve heard lots of fine words here in Nice, but these need to turn into tangible action.

    “Countries must be brave, stand up for global cooperation and make history by stopping deep sea mining this year.

    “They can do this by committing to a moratorium on deep sea mining at next month’s International Seabed Authority meeting.

    “We applaud those who have already taken a stand, and urge all others to be on the right side of history by stopping deep sea mining.”

    Attention on ISA meeting
    Following this UNOC, attention now turns to the International Seabed Authority (ISA) meetings in July. In the face of The Metals Company teaming up with US President Donald Trump to mine the global oceans, the upcoming ISA provides a space where governments can come together to defend the deep ocean by adopting a moratorium to stop this destructive industry.

    Negotiations on a Global Plastics Treaty resume in August.

    John Hocevar, oceans campaign director, Greenpeace USA said: “The majority of countries have spoken when they signed on to the Nice Call for an Ambitious Plastics Treaty that they want an agreement that will reduce plastic production. Now, as we end the UN Ocean Conference and head on to the Global Plastics Treaty negotiations in Geneva this August, they must act.

    “The world cannot afford a weak treaty dictated by oil-soaked obstructionists.

    “The ambitious majority must rise to this moment, firmly hold the line and ensure that we will have a Global Plastic Treaty that cuts plastic production, protects human health, and delivers justice for Indigenous Peoples and communities on the frontlines.

    “Governments need to show that multilateralism still works for people and the planet, not the profits of a greedy few.”

    Driving ecological collapse
    Nichanan Thantanwit, project leader, Ocean Justice Project, said: “Coastal and Indigenous communities, including small-scale fishers, have protected the ocean for generations. Now they are being pushed aside by industries driving ecological collapse and human rights violations.

    “As the UN Ocean Conference ends, governments must recognise small-scale fishers and Indigenous Peoples as rights-holders, secure their access and role in marine governance, and stop destructive practices such as bottom trawling and harmful aquaculture.

    “There is no ocean protection without the people who have protected it all along.”

    The anticipated Nice Ocean Action Plan, which consists of a political declaration and a series of voluntary commitments, will be announced later today at the end of the conference.

    None will be legally binding, so governments need to act strongly during the next ISA meeting in July and at plastic treaty negotiations in August.

    Republished from Greenpeace Aotearoa with permission.

    Article by AsiaPacificReport.nz

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ‘Be brave’ warning to nations against deepsea mining from UNOC

    By Laura Bergamo in Nice, France

    The UN Ocean Conference (UNOC) concluded today with significant progress made towards the ratification of the High Seas Treaty and a strong statement on a new plastics treaty signed by 95 governments.

    Once ratified, it will be the only legal tool that can create protected areas in international waters, making it fundamental to protecting 30 percent of the world’s oceans by 2030.

    Fifty countries, plus the European Union, have now ratified the Treaty.

    New Zealand has signed but is yet to ratify.

    Deep sea mining rose up the agenda in the conference debates, demonstrating the urgency of opposing this industry.

    The expectation from civil society and a large group of states, including both co-hosts of UNOC, was that governments would make progress towards stopping deep sea mining in Nice.

    UN Secretary-General Guterres said the deep sea should not become the “wild west“.

    Four new pledges
    French President Emmanuel Macron said a deep sea mining moratorium is an international necessity. Four new countries pledged their support for a moratorium at UNOC, bringing the total to 37.

    Attention now turns to what actions governments will take in July to stop this industry from starting.

    Megan Randles, Greenpeace head of delegation regarding the High Seas Treaty and progress towards stopping deep sea mining, said: “High Seas Treaty ratification is within touching distance, but the progress made here in Nice feels hollow as this UN Ocean Conference ends without more tangible commitments to stopping deep sea mining.

    “We’ve heard lots of fine words here in Nice, but these need to turn into tangible action.

    “Countries must be brave, stand up for global cooperation and make history by stopping deep sea mining this year.

    “They can do this by committing to a moratorium on deep sea mining at next month’s International Seabed Authority meeting.

    “We applaud those who have already taken a stand, and urge all others to be on the right side of history by stopping deep sea mining.”

    Attention on ISA meeting
    Following this UNOC, attention now turns to the International Seabed Authority (ISA) meetings in July. In the face of The Metals Company teaming up with US President Donald Trump to mine the global oceans, the upcoming ISA provides a space where governments can come together to defend the deep ocean by adopting a moratorium to stop this destructive industry.

    Negotiations on a Global Plastics Treaty resume in August.

    John Hocevar, oceans campaign director, Greenpeace USA said: “The majority of countries have spoken when they signed on to the Nice Call for an Ambitious Plastics Treaty that they want an agreement that will reduce plastic production. Now, as we end the UN Ocean Conference and head on to the Global Plastics Treaty negotiations in Geneva this August, they must act.

    “The world cannot afford a weak treaty dictated by oil-soaked obstructionists.

    “The ambitious majority must rise to this moment, firmly hold the line and ensure that we will have a Global Plastic Treaty that cuts plastic production, protects human health, and delivers justice for Indigenous Peoples and communities on the frontlines.

    “Governments need to show that multilateralism still works for people and the planet, not the profits of a greedy few.”

    Driving ecological collapse
    Nichanan Thantanwit, project leader, Ocean Justice Project, said: “Coastal and Indigenous communities, including small-scale fishers, have protected the ocean for generations. Now they are being pushed aside by industries driving ecological collapse and human rights violations.

    “As the UN Ocean Conference ends, governments must recognise small-scale fishers and Indigenous Peoples as rights-holders, secure their access and role in marine governance, and stop destructive practices such as bottom trawling and harmful aquaculture.

    “There is no ocean protection without the people who have protected it all along.”

    The anticipated Nice Ocean Action Plan, which consists of a political declaration and a series of voluntary commitments, will be announced later today at the end of the conference.

    None will be legally binding, so governments need to act strongly during the next ISA meeting in July and at plastic treaty negotiations in August.

    Republished from Greenpeace Aotearoa with permission.

    Article by AsiaPacificReport.nz

    MIL OSI Analysis – EveningReport.nz –