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Category: Asia

  • Prime Minister attends Civil Investiture Ceremony-II, honours Padma Awardees

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Tuesday attended the Civil Investiture Ceremony-II held at Rashtrapati Bhavan, where the prestigious Padma Awards were presented to distinguished individuals from various fields.

    In a post on X, the Prime Minister said, “Attended the Civil Investiture Ceremony-II, where the Padma Awards were presented. The Padma awardees have made notable contributions to our society. The life journeys of those who were conferred the Padma are deeply motivating.”

    Vice-President Jagdeep Dhankhar, Union Ministers Amit Shah, S. Jaishankar, Pralhad Joshi, Jitendra Singh, G. Kishan Reddy, and several other dignitaries were present on the occasion.

    The Padma Awards—Padma Vibhushan, Padma Bhushan, and Padma Shri—are among the highest civilian honours in the country and are conferred in recognition of exceptional service in various disciplines, including art, literature, education, medicine, social work, science, public affairs, and sports.

    This year, the government had announced a total of 139 Padma awardees on the eve of Republic Day.

  • MIL-OSI Asia-Pac: Acting SFST’s speech at HKVCA Greater China Private Equity Summit 2025 (English only)

    Source: Hong Kong Government special administrative region

    Acting SFST’s speech at HKVCA Greater China Private Equity Summit 2025 (English only) 
    Rebecca (Co-Founder and Managing Director of Asia Alternatives, Ms Rebecca Xu), Conrad (Founder and Chairman of Strategic Year Holdings, Mr Conrad Tsang), distinguished guests, ladies and gentlemen,
     
         Good morning. It is my great pleasure to join you at the HKVCA’s flagship event – the Greater China Private Equity Summit – a global gathering of professionals and industry leaders of the private equity and venture capital sector.
     
         Today, the global economy is confronted by geopolitical tensions and economic fragmentation, and threatened by the rise of unilateralism and protectionism. Against this backdrop, it is all the more necessary to have a stable and predictable “super connector” with an overall conducive business environment.
     
         This is exactly what Hong Kong stands to provide. Earlier this year, the International Monetary Fund has reaffirmed Hong Kong’s position as an international financial centre and recognised Hong Kong’s resilient financial system, as supported by robust institutional frameworks, ample policy buffers, and the smooth functioning of the Linked Exchange Rate System. Indeed, Hong Kong ranked third in the world and first in Asia in the latest Global Financial Centers Index, whilst topping its “investment management” and “finance” matrix globally.
     
    China connectivity
     
         One unique advantage of Hong Kong is our preferential access to the Mainland China market. Last year (2024) marked the 10th anniversary of the mutual market access programmes between the Mainland and Hong Kong financial markets. Various mutual access programmes have been introduced one after another and have thrived over the past few years. The Connect Schemes allow international investors to conveniently invest in the Mainland China market through Hong Kong. At the same time, they enable Mainland investors to diversify their asset allocation through Hong Kong, facilitating the two-way flow of capital between the Mainland market and international markets, as well as the internationalisation of the Renminbi.
     
         The content and scope of mutual access have continued to deepen and expand, now encompassing a wide range of offerings, including stocks, bonds, exchange-traded funds, derivatives for risk management, and more. Real estate investment trusts will also soon be included in the Connect Schemes.
     
         Meanwhile, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is fast emerging as a young and massive consumer market that is increasingly affluent, and has a growing demand for quality financial products and services, and a need for diversified asset allocation. Home to 87 million people with a GDP (Gross Domestic Product) per capita of US$40,000 on a purchasing power parity basis, the GBA presents immense potential in driving the synergistic development of Hong Kong and other GBA cities.
     
         Tapping into the potential of this market, the GBA Cross-boundary Wealth Management Connect (WMC) was launched in 2021 and enhanced in February last year. The WMC provides GBA residents with a formal, direct and convenient channel for cross-boundary investment in diversified wealth management products. As of the end of April this year, about 154 000 individual investors in the GBA participated in the WMC, and cross-boundary fund remittances totalled close to RMB112 billion.
     
         Another recent case of our continued endeavour to deepen the mutual access and strengthen financial market development is the enhancements to the Mainland-Hong Kong Mutual Recognition of Funds (MRF) arrangement in January this year. By relaxing sales restrictions and allowing Hong Kong funds to delegate investment management functions overseas, the measures significantly increased the diversity of fund products, enhanced the scale of funds, and brought a positive effect to the distribution of MRF funds.
     
    Asset and wealth management hub
     
         With the your staunch support, we are solidifying Hong Kong’s role as an international asset and wealth management centre. As at the end of 2023, the assets under management (AUM) of the Hong Kong’s asset and wealth management business reached about US$4 trillion, registering a growth of about 30 per cent over five years, and 64 per cent of the capital was sourced from non-Hong Kong investors, underscoring our city’s role as a trusted gateway for global capital seeking access to opportunities across Asia and beyond. Our leadership is further evidenced by our standing as Asia’s largest hedge fund hub and Asia’s largest cross-border wealth management centre.
     
         As of the end of April this year, there were 1 125 limited partnership funds registered in Hong Kong, representing a growth of over 30 per cent on a year-on-year basis. According to an industry report, as of the end of first quarter this year, the AUM of Hong Kong’s private equity business amounted to about US$230 billion, ranked second in Asia, just trailing the Mainland China market.
     
         To drive development on this front, we are welcoming alternative asset funds to list in Hong Kong. The Securities and Futures Commission has recently issued a circular to clarify the regulatory requirements for authorising closed-ended funds that invest mainly in private and less liquid assets, thereby encouraging sizeable alternative asset funds, including those investing in private equity, private credit, and infrastructure equity or debt, to list in Hong Kong.
     
         I am sure this is a move welcomed by the industry, with benefits to investors that are multifold. On one hand, investors have broadened investment choices for diversification. On the other hand, investors may tap into opportunities previously only available to institutional and professional investors. Those with a long-term investment horizon may potentially achieve higher returns and a more stable valuation.
     
         Another welcome move, I believe, is our proposal to enhance the tax incentives for funds, single family offices and carried interest. These proposals aim to expand the scope of qualifying funds to include vehicles such as pension and endowment funds, while also increasing the range of eligible asset classes for tax concessions including emerging instruments like carbon credits, emission derivatives, insurance-linked securities, private credit investments, and virtual assets. In addition, we plan to enhance the tax concession arrangement on the distribution of carried interest by private equity funds by removing the existing HKMA (The Hong Kong Monetary Authority)’s certification requirement and eliminating the reference to a hurdle rate. We have completed the industry consultation and we are now formulating the relevant enhancement measures with financial regulators based on the feedback received. We target to work out the details of the proposals this year and submit the legislative proposals to the Legislative Council for consideration next year. If approved, the relevant measures will take effect from the year of assessment 2025/26, which begins on April 1 this year.
     
         Another focus area of ours is the family office sector. The growth of family offices has been particularly noteworthy, with over 2 700 single family offices operating in Hong Kong as of the end of 2023. More than half of them are managing portfolios exceeding US$50 million, and in particular, over 30 percent are managing portfolios over US$100 million, reflecting Hong Kong’s appeal to ultra-high-net-worth individuals (UHNWIs) and institutional investors alike. Backing this claim is a market report last year that ranked Hong Kong first in Asia and second in the world in terms of the population size of UHNWIs in 2023 among global cities. This is a testament to our city’s potential and capacity to attract and nurture wealth, further solidifying our position as a global wealth management and family office hub.
     
         Targeting this segment with promising growth potential, we have been implementing a series of policy measures to support the development of the family office business after we issued the Policy Statement on Developing Family Office Businesses in Hong Kong in 2023. Among others, we are fostering collaboration, networking and knowledge sharing across the family offices from around the world via the Hong Kong Academy for Wealth Legacy for the current and next generation of wealth owners.
     
         We also launched the New Capital Investment Entrant Scheme in March 2024 where Limited Partnership Funds are included as Permissible Investment Assets. As of the end of April this year, 1 257 applications have been received, potentially bringing in an investment amount of over HK$37 billion to Hong Kong.
     
    Closing
     
         Ladies, and gentlemen, Hong Kong is well-positioned to maintain and enhance its status as a leading international financial centre, notable for our certainty, transparency, and predictability. Our ongoing efforts to establish new ties, attract new capital and foster innovation will ensure our continued strength as a “super connector” in an ever-changing world.
     
         As we continue to bridge global investors with opportunities in the international and Mainland markets, we look to the HKVCA and other professionals alike to foster industry development through leveraging on our distinct advantages.
     
         On this note, I would like to thank the HKVCA again for hosting today’s event and your continued contribution to the industry. I wish you all an enjoyable and rewarding summit today. Thank you.
    Issued at HKT 12:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI China: Full text: Remarks by Chinese Premier Li Qiang at the ASEAN-China-GCC Summit

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

    KUALA LUMPUR, May 28 — Chinese Premier Li Qiang on Tuesday addressed the ASEAN (the Association of Southeast Asian Nations)-China-GCC (the Gulf Cooperation Council) Summit in Kuala Lumpur, Malaysia.

    The following is the full text of his remarks at the summit:

    Remarks by H.E. Li Qiang

    Premier of the State Council of the People’s Republic of China

    At the ASEAN-China-GCC Summit

    Kuala Lumpur, May 27, 2025

    Your Honorable Prime Minister Dato’ Seri Anwar Ibrahim,

    Your Highness Crown Prince Sabah Khalid Al-Hamad Al-Sabah,

    Colleagues,

    It gives me great pleasure to join you in Kuala Lumpur. First of all, the Chinese side would like to extend sincere appreciation to Prime Minister Anwar Ibrahim for his vision in proposing the ASEAN-China-GCC Summit. We also wish to express our heartfelt thanks to the Malaysian government for the dedicated efforts and thoughtful arrangements made for the summit.

    China, ASEAN and GCC countries have a long history of friendly interactions, with exchanges and cooperation between us spanning thousands of years from the ancient Silk Road to the Belt and Road Initiative. Today, against a volatile international landscape and sluggish global growth, the establishment of the ASEAN-China-GCC Summit creates a platform for exchanges and a mechanism for cooperation. It is a groundbreaking initiative in regional economic cooperation that has carried forward the legacy of history, and more importantly, answered the call of the times. If we take a look at the world map and draw a line between China, ASEAN and the GCC, we will get a big triangle. As we know, triangle is the most stable structure. By enhancing connectivity and cooperation, we can pool our resources, production capacity and markets to foster a vibrant economic circle and growth pole. This is highly important both to our respective economic prosperity and to peace and development in Asia and the world. We should firmly seize this historic opportunity to enrich the trilateral cooperation, and set a fine example for global cooperation and development in this era.

    First, we should set a fine example of opening up across regions. Together, China, ASEAN and the GCC account for roughly a quarter of the world’s population and economic output. Our markets, if fully connected, will generate even greater space for development and more substantial economies of scale. The China-ASEAN Free Trade Area 3.0 upgrade negotiations have been fully concluded. It is hoped that the negotiations for the China-GCC Free Trade Agreement can also be concluded as early as possible to take trilateral trade to a higher level. We should firmly expand regional opening up, and develop a big market with more efficient mobility of resources, technologies and talents and enhanced trade and investment liberalization and facilitation to fully unlock the huge potential of open development.

    Second, we should set a fine example of cooperation across development stages. Countries of the three sides are at different stages of development, yet we should not let these differences stand in the way of our cooperation, but transform them into complementary strengths that we can harness. China is ready to, on the basis of mutual respect and equality, work with ASEAN and the GCC to strengthen the alignment of development strategies, increase macro policy coordination, and deepen collaboration on industrial specialization. We should make efforts to turn our respective strengths into collective strengths, and help each other tackle development challenges. We should create a new model of international industrial and economic cooperation, and strive for coordinated development where everyone does its level best, efficiency is multiplied, and benefits are shared.

    Third, we should set a fine example of inter-civilization integration. Countries of the three sides have diverse civilizations. At the same time, we all belong to the same Asian family and share the same Asian values of peace, cooperation, openness and inclusiveness. We should deepen people-to-people exchanges to further consolidate the foundation for mutual trust. We should effectively manage differences in the spirit of mutual understanding, advance win-win cooperation through the exchange of ideas, and explore a new way for promoting the inclusiveness and common progress of different civilizations. China actively supports Prime Minister Anwar’s initiative on Islam-Confucianism dialogue. We are ready to work with ASEAN and the GCC to implement the Global Civilization Initiative, promote mutual learning among civilizations, and pool more consensus and strengths for peace and development.

    Today, we have established the trilateral cooperation mechanism and drawn up a promising vision of joint development. What’s more important now is for all sides to take concrete actions and advance substantive cooperation.

    Between our three sides, we should work together to promote cooperation in key areas and achieve more effective common development. China is ready to discuss with ASEAN and the GCC a trilateral action plan on high-quality Belt and Road cooperation. We should enhance synergy and connectivity in infrastructure, market rules and payment systems, actively consider establishing a regional business council, deepen economic integration, and make development more resilient and efficient. While expanding cooperation in traditional areas such as energy and agriculture, we also need to step up cooperation in emerging areas such as AI, the digital economy, and green and low-carbon development to foster and cultivate new growth drivers. We should also respond to our people’s aspiration for enduring friendship, and deepen people-to-people exchanges. To promote travels and people-to-people bond between the three sides, China has decided to roll out an “ASEAN visa” for Southeast Asian countries offering five-year multiple-entry visas to eligible applicants for business and other purposes, and to extend unilateral visa-free policy to Saudi Arabia, Oman, Kuwait, and Bahrain on a trial basis, which will effectively give visa-free status to all GCC countries.

    At the global level, we should always stand on the right side of history and add more positive energy to world peace and development. We should pursue equal, mutually beneficial, open, inclusive, practical and efficient cooperation, and, through our example, encourage the international community to uphold multilateralism and free trade and reject unilateralism and protectionism. China will work with ASEAN and GCC countries to step up communication and coordination in multilateral mechanisms including the United Nations, vigorously defend the common interests of developing countries, categorically oppose hegemonism and power politics, and make global governance more just and equitable.

    As President Xi Jinping noted, “For us to break through the mist and embrace a bright future, the biggest strength comes from cooperation, and the most effective way is through solidarity.” China will join ASEAN and the GCC in fostering synergies that multiply rather than simply add our individual strengths, and inject strong impetus into our common development and prosperity. I am confident that through our concerted efforts, trilateral cooperation will continue to produce positive results and deliver more benefits to our people, thereby making greater contributions to peace and development in Asia and the world.

    Thank you.

    MIL OSI China News –

  • MIL-OSI China: Full Text: Speech by Chinese Premier Li Qiang at the opening ceremony of the ASEAN-China-GCC Economic Forum

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

    Full Text: Speech by Chinese Premier Li Qiang at the opening ceremony of the ASEAN-China-GCC Economic Forum

    KUALA LUMPUR, May 28 — Chinese Premier Li Qiang on Tuesday delivered a speech at the opening ceremony of the ASEAN (the Association of Southeast Asian Nations)-China-GCC (the Gulf Cooperation Council) Economic Forum 2025.

    The following is the full text of the speech:

    Speech by H.E. Li Qiang

    Premier of the State Council of the People’s Republic of China

    At the Opening Ceremony of The ASEAN-China-GCC Economic Forum

    Kuala Lumpur, May 27, 2025

    Your Honorable Prime Minister Dato’ Seri Anwar Ibrahim,

    Distinguished Guests,

    Business Leaders, Ladies and Gentlemen,

    It gives me great pleasure to join you in Kuala Lumpur for the opening ceremony of the ASEAN-China-GCC Economic Forum.

    The ASEAN-China-GCC Summit is successfully held today. We have agreed to strengthen our trilateral partnership and ushered in a new chapter of trilateral cooperation. The leaders of participating countries have had in-depth discussions under the theme of “Synergizing Economic Opportunities Toward Shared Prosperity.” It is widely agreed that profound and complex transformations are taking place in the global political and economic landscape, the common challenges countries face in their development are increasing, and the scarcity of development opportunities makes them all the more precious, increases the urgency of cooperation, and calls for more vision. In this context, our discussions are highly relevant and should involve all related sectors, particularly the business community, so as to pool wisdom and build consensus among more stakeholders. Let me take this opportunity to share with you three observations.

    First, given everything that is going on, opportunities can be created if we join hands to meet the challenges. At present, economic globalization is suffering heavy blows never seen before. The values we pursue all along, such as peace, development and win-win cooperation, are severely challenged. Properly addressing these issues will bring significant opportunities for the countries of our three sides. Amid heightened geopolitical conflict, rivalry and confrontation, we can create long-term strategic opportunities when we deepen mutual trust and strengthen solidarity. The rapid development of Asia in the past decades offers a profound lesson: Only solidarity, mutual trust, peace and stability can bring development and prosperity. All countries are part of a close-knit community with a shared future. In the absence of mutual trust, problems may be amplified and cooperation becomes impossible. Yet with solidarity and mutual trust, we can render each other strategic support and cultivate broader and more sustainable high-standard economic cooperation, thus ensuring long-term, steady development. Amid rising protectionism and unilateralism, we can unleash enormous market opportunities when we continue to open wider and remove barriers. Countries of our three sides have all benefited from economic globalization and gained great development opportunities from integration into the world market. Our markets, when connected, will form one of the world’s largest intra-regional markets and produce a multiplier effect. Building the big market will allow our countries to reap and share more benefits. Amid more decoupling practice, supply-chain disruptions and trade barriers, we can create opportunities for transformation and upgrading when we keep sharing resources and empowering one another. Countries vary in resource endowments and industrial structure. They bring different strengths to and gain from international industrial cooperation. This will maximize the use of resources, and boost industrial performance and sustained development for all who take part.

    Second, the friendly cooperation between China, ASEAN and GCC countries has a long history and a bright future. More than 2,000 years ago, the earliest camel caravan from China reached the Middle East, and the first Chinese fleet landed in Nanyang (Southeast Asia). Ever since then, trade and people-to-people exchanges have connected us throughout over 20 centuries, strengthening and flourishing over time. These rich historical links will ensure even more successes in our future cooperation. Together, we will find greater potential for development. We are about a quarter of the world’s population and the global economy, but only about 5 percent of global trade. A lot remains untapped. As we deepen our cooperation, our trade and investment will grow continuously and uplift our nations as well as our businesses. Together, our economies will work more efficiently. When factors of production move more easily between our countries and our industries are connected more closely, the cost of energy and other resources will go down, logistics will be faster, financial services will be more efficient, and more advanced technologies will give us strong impetus. The competitiveness and resilience of our economies will grow substantially, and our development will be more efficient and secure. Together, we will create more dynamic ecosystems of innovation. We are all outstanding innovators, each excelling in our own ways. Greater cooperation will enable our innovative talents to better learn from and complement one another, and provide first-class R&D support and rich application scenarios for innovation and creation to sow the seeds for more new industries and new forms of business. This will allow us all to stand taller in the global landscape of innovation.

    The future of our trilateral cooperation is boundless like the oceans. It is upon us to take real actions in order to steer and shape it. China stands ready to work with ASEAN and GCC countries to strengthen alignment of development strategies, deepen cooperation on regional integration, and promote trade and investment liberalization and facilitation. At the same time, we must firmly uphold the WTO-centered multilateral trading system, and stand for a stable and orderly global market environment. As the ongoing scientific revolution and industrial transformation unfold, let us join hands to seize the early opportunities, expand high-tech cooperation, safeguard the stable and unimpeded industrial and supply chains, and keep breaking new ground in our common development.

    Third, with its high-quality development, China will consistently inject new impetus into the trilateral cooperation. In terms of development momentum, the Chinese economy has been growing steadily since the beginning of this year. With a year-on-year GDP growth of 5.4 percent in the first quarter, China is one of the fastest-growing major economies in the world. In the first four months of this year, we’ve seen strong development in the industrial sector, resilient export despite external pressure, and sustained expansion of new growth drivers. The figures speak for themselves: The added value of industrial enterprises above the designated size grew by 6.4 percent year-on-year; export increased by 7.5 percent compared with the same period last year; the added value of high-tech manufacturing and the investment in high-tech services went up by 9.8 percent and 11.3 percent year-on-year respectively; and production and sales of new energy vehicles both exceeded four million. Smart factories now cover more than 80 percent of the manufacturing sectors. These achievements speak volumes about the great stability of the Chinese economy. As President Xi Jinping said, the Chinese economy is not a pond, but an ocean. This vast ocean can withstand fierce winds and heavy rains. Each storm weathered only deepens its resilience and makes it more open and inclusive.

    In terms of macro policies, facing risks and challenges from the external environment, we made clear that more proactive and effective macro policies will be implemented and that a more proactive fiscal policy and an appropriately accommodative monetary policy will be adopted. Fiscal expenditures hit a record high and the regulation of monetary and financial aggregates has been significantly strengthened, providing a strong underpinning for the expansion of aggregate demand. Going forward, we will continue to strengthen counter-cyclical adjustments in light of the changing circumstances. Whatever challenges lie ahead in the future, we have the capability and confidence to maintain the steady and long-term development of the Chinese economy.

    In terms of strategic goals, China is a super-sized economy that enjoys the unique strength of major economies, i.e., domestic demand is the main driver and domestic circulation is possible. We are increasingly placing our strategic priority on expanding domestic demand and strengthening domestic circulation with a view to enhancing the internal driving force of the Chinese economy. We have accelerated efforts to implement the strategy of expanding domestic demand and have launched special initiatives to boost consumption. As more policy resources are given to consumption, a huge demand potential will be unleashed. We are also further deepening reform comprehensively and accelerating the high-end, smart and green industrial transformation, which will create new, additional demand. The Chinese economy is of great breadth and depth, which can provide a huge market for quality products from all over the world. We will stay committed to expanding high-standard opening up, take more measures to advance voluntary and unilateral opening up, and enable domestic and international circulations to reinforce each other, so that companies across the world, including those from ASEAN and GCC countries, can fully share in the opportunity of China’s development.

    Ladies and Gentlemen,

    Friends,

    Cooperation is the only right way to overcome common challenges. China stands ready to work together with ASEAN and GCC countries to embrace greater openness and cooperation, promote steady economic growth, and join hands to synergize economic opportunities toward shared prosperity. Thank you.

    MIL OSI China News –

  • MIL-OSI China: US stocks advance as Trump eases EU tariff threat

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

    U.S. stocks ended higher on Tuesday, after U.S. President Donald Trump softened his stance on tariff threats toward the European Union, signaling that trade negotiations were regaining momentum.

    The Dow Jones Industrial Average rose 740.58 points, or 1.78 percent, to 42,343.65. The S&P 500 added 118.72 points, or 2.05 percent, to 5,921.54. The Nasdaq Composite Index increased by 461.96 points, or 2.47 percent, to 19,199.16.

    All of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and technology leading the gainers by rising 3.04 percent and 2.55 percent, respectively. Utilities posted the weakest growth, up by 0.77 percent.

    Over the weekend, Trump announced he would delay a planned 50 percent tariff on EU imports until July 9, following a request from European Commission President Ursula von der Leyen. The delay came after Trump had previously proposed implementing the levy on June 1.

    U.S. National Economic Council Director Kevin Hassett told CNBC’s Squawk Box that he anticipates more trade deals could be finalized this week.

    Investor optimism was also buoyed by stronger-than-expected U.S. consumer confidence data for May, with hopes for trade resolutions helping lift sentiment. According to The Conference Board, U.S. consumer sentiment improved across all age and income groups, signaling a broad recovery in outlook.

    On the corporate front, Tesla jumped 6.94 percent after its CEO Elon Musk said he was shifting focus away from political distractions and back to his business ventures. U.S. Steel climbed nearly 2 percent after CNBC reported that Japan’s Nippon Steel is close to finalizing its 55-U.S.-dollars-per-share acquisition of the company.

    The rally marked a strong start to the shortened trading week, as markets reopened following the Memorial Day holiday. The advance was broad-based, with over 90 percent of S&P 500 stocks closing higher, and small-cap stocks also rallied, pushing the Russell 2000 index up 2.48 percent.

    Tuesday’s gains came after a tough week for Wall Street, where all three major indexes — the Dow, S&P 500, and Nasdaq — fell more than 2 percent on fears sparked by Trump’s initial tariff threats toward the EU.

    “It seems like the long holiday weekend only built up momentum for today’s sharp rebound,” said Dann Ryan, managing partner at Sincerus Advisory. “The trade tensions that briefly flared up have already cooled down — and now it looks like negotiations are moving into the fast lane.”

    U.S. Treasury bonds spearheaded a broader decline in global bond yields on Tuesday, as markets welcomed signs that Japan may take steps to stabilize its bond market, which recently saw long-term government debt yields spike to multi-decade highs. The 30-year U.S. Treasury yield eased back to around 4.94 percent.

    Attention is now shifting to a busy week of economic data releases, as well as upcoming comments from Federal Reserve officials, who are widely expected to maintain current interest rates, consistent with previous guidance. Meanwhile, Trump’s controversial tax bill remains in focus after narrowly clearing the House of Representatives last week.

    Nvidia rose 3.21 percent following reports that the company is preparing to release a lower-cost AI chip for China, just ahead of its highly anticipated earnings report on Wednesday, one of the most closely watched of the quarter. Other companies set to report this week include Okta, Macy’s, and Costco. According to FactSet, over 95 percent of S&P 500 companies have reported earnings this season, with nearly 78 percent exceeding analysts’ expectations. 

    MIL OSI China News –

  • MIL-OSI China: From wastelands to wonders: China revives abandoned mines for sustainable future

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

    Tianchi Lake at Baihu Mountain in east China’s Shandong Province features expansive water shimmering with rippling blue waves, and pale purple paulownia flowers blooming along its steep rocky shores.

    It’s hard to imagine that this tranquil and beautiful landscape was once a barren quarry pit. “Windstorms used to whip up dense dust clouds, obscuring the colors of leaves and flowers,” recalled 62-year-old villager Wang Yunhe in Hetaoyuan, a town with 22 mountains and an estimated 1.19 billion tonnes of rock reserves.

    As one of the world’s most mineral-rich nations, China contains over 150,000 mines occupying millions of hectares of land. Upholding the concept that clear waters and green mountains are valuable assets, the country has implemented multiple measures to advance the ecological rehabilitation of abandoned mines in recent years, aiming for win-win outcomes in terms of ecological, economic and social benefits.

    ECOLOGICAL TRANSFORMATION

    According to Shang Baoling, a former local official, quarrying had become the dominant industry in Hetaoyuan since the 1990s. Nearly 50 lime kilns were built, with over 2,000 villagers relying on stone mining for their livelihoods.

    Rapacious mining boosted local economies temporarily, but later caused significant ecological damage. “These mountains, originally over 180 meters tall, were excavated to depths exceeding 40 meters below ground level — ultimately transforming verdant peaks into desolate quarries,” Shang said.

    In 2015, authorities of Juye County, which administers Hetaoyuan, enacted a comprehensive mining ban, shuttering all quarries and lime kilns. Years of dedicated reforestation have since transformed 18,000 mu (1,200 hectares) of mining wastelands and slopes into thriving ecosystems, where crabapple, cherry blossoms, paulownia flowers and other flora now bloom in seasonal cycles.

    Many greening workers employed in this effort were former miners from local villages. “Several villagers told me the changes have been tremendous,” Shang added.

    Tourists ride sightseeing boats in the Baihu Mountain scenic spot in Hetaoyuan Town of Heze, east China’s Shandong Province, May 16, 2025. (Photo by Zang Dongming/Xinhua)

    Such transformations are occurring across China. By the end of 2024, over 333,300 hectares of abandoned mines had been rehabilitated — including 26,200 hectares newly restored in 2024 alone.

    This year’s government work report said China will “accelerate the green and low-carbon transition,” listing “strengthening ecological conservation and restoration” as a key priority.

    AGRICULTURAL GOLDMINE

    Nationwide, abandoned mines with geographical and resource advantages are being repurposed for agricultural and other industrial development, creating new economic opportunities for local residents. Taobei Village in Shandong’s capital city of Jinan, for example, rehabilitated its abandoned quarry, a low-lying area littered with rubble, turning it into a medicinal herb cultivation base several years ago.

    “We have developed cultivation of over 10 medicinal herbs, including astragalus and Chinese sage, with an annual production capacity reaching 4 million plants,” said Tao Changguo, director of the village committee.

    Local authorities have also introduced specialized planting cooperatives, establishing processing workshops for medicinal herbs, and facilities for sorting, packaging and fresh storage. These initiatives have boosted local employment while generating more than 200,000 yuan (about 27,825.7 U.S. dollars) in additional annual income for the cooperatives.

    In 2008, as local environmental restoration efforts began, a long-abandoned mining pit in China’s eastern coastal city of Qingdao found new life as a vineyard and winemaking hub, thanks to its prime location on the same latitude as Bordeaux in France.

    “The barren yet well-draining soil here enhances grape acidity and phenolic content, while the scattered rocks in the earth contribute abundant organic minerals,” said Yan Zhigang, deputy general manager of a local wine company.

    According to Yan, the company’s vineyard spans approximately 3,000 mu of reclaimed mining land, where grapes are cultivated on former wasteland and abandoned pits have been repurposed into wine cellars. With an annual production volume of nearly 500,000 bottles, their wines are exported to multiple countries and regions including Europe, Southeast Asia and Japan.

    TOURISM BOOM

    After two decades of relentless efforts, Anji, a small county in east China’s Zhejiang Province, is now successfully transforming its ecological advantage into tangible wealth.

    Launched in 2022, Deep Blue Coffeehouse, located on a 300-mu disused mine near a natural lake in Hongmiao Village of Anji, has now become a social media sensation, drawing 600,000 visitors yearly and earning 20 million yuan in its first year.

    This aerial photo taken on April 7, 2023 shows the Deep Blue Coffeehouse located near an abandoned mine in Hongmiao Village of Anji County in Huzhou, east China’s Zhejiang Province. (Xinhua/Weng Xinyang)

    This Scandinavian-style outdoor cafe made headlines in 2024 when it set a new national record for single-day sales at an independent coffee shop — serving an impressive 8,818 cups of coffee in just 24 hours.

    “It’s less about selling coffee and more about selling the scenery and leisure itself,” said Cheng Shuoqin, owner of the coffee shop.

    In recent years, with the deepening integration of ecological restoration and cultural tourism, an increasing number of once-barren industrial sites have been revitalized through scientific planning and innovative design. These transformed spaces now serve not only as eco-parks and tourist destinations but also feature diverse business models, such as countryside-style farm stays, thrilling amusement parks and immersive performance venues.

    At the Huaxia City Scenic Area, located in the city of Weihai in Shandong, Zhou Liming was driving tourists through lush forests and flower fields. A resident from a nearby village, Zhou currently works as a sightseeing vehicle operator in the area. According to Zhou, this area was once nothing but a quarry pockmarked with 44 mining pits of various sizes.

    Since 2003, Weihai has implemented a comprehensive initiative across abandoned mining zones as a strategy for sustainable development. Through reclaiming nearly 4,000 mu of devastated mountains, constructing 35 reservoirs and planting 12.27 million trees, this transformed landscape ultimately gave birth to a thriving tourist resort.

    An aerial drone photo shows a view of the Huaxia City Scenic Area in Weihai, east China’s Shandong Province, May 26, 2025. (Photo by Zhang Hao/Xinhua)

    In the scenic area, an abandoned mining ravine has been transformed, featuring masterpieces of Chinese calligraphy from successive dynasties carved into its towering cliff walls on both sides. A preserved mining village and pit relics remind visitors of the importance of ecological conservation. At a rehabilitated mining site, audiences can now watch an immersive live performance aboard a giant ship, with the actual mountains, water and sky forming a breathtaking natural backdrop.

    In 2024, the scenic area welcomed 2.04 million visitors, generating total revenue of 124 million yuan. During this year’s May Day holiday alone, it attracted 82,000 tourists with holiday earnings reaching 6.65 million yuan.

    “Now, driving a sightseeing vehicle in the scenic area earns me 60,000 yuan annually. This is the good life that our lush mountains and clear waters have brought us!” Zhou said. 

    MIL OSI China News –

  • Foreign Secretary Misri in US to strengthen strategic tech and trade ties

    Source: Government of India

    Source: Government of India (4)

    Foreign Secretary Vikram Misri met with US Under Secretary Jeffrey Kessler in Washington on Tuesday to discuss convening the India-US Strategic Trade Dialogue at an early date and to explore deeper cooperation in critical and emerging technologies.

    The meeting is seen as a step forward in bolstering high-level collaboration between India and the United States in strategically vital sectors. Discussions focused on reinforcing existing institutional frameworks and accelerating joint initiatives in technology and trade.

    The Indian Embassy in Washington posted on X, stating, “Foreign Secretary Vikram Misri met Under Secretary Jeffrey Kessler to advance India-US cooperation in critical & emerging technologies. They also discussed early convening of the India-US Strategic Trade Dialogue to deepen tech & trade collaboration.”

    Misri is currently on a three-day visit to the US, during which he will engage with senior members of the Trump administration. According to the Ministry of External Affairs (MEA), the visit follows up on Prime Minister Narendra Modi’s official trip to the US in February 2025.

    That visit marked the launch of the ‘India-US COMPACT’—Catalysing Opportunities for Military Partnership, Accelerated Commerce and Technology—a strategic framework introduced by PM Modi and US President Donald Trump to expand collaboration in defense, trade, and technology.

    It was Modi’s first trip to the US since Trump’s second inauguration in January 2025. He was among the first world leaders invited by the new administration, visiting within three weeks of the swearing-in.

    The visit also comes amid President Trump’s recent remarks claiming credit for mediating a ceasefire agreement between India and Pakistan earlier this month. However, Indian officials have strongly refuted the claim.

    New Delhi maintains that the ceasefire came about due to Pakistan’s appeals following intense Indian military operations during Operation Sindoor, which targeted Pakistani air bases. Officials have underscored that the pressure from India’s offensive left Islamabad with little choice but to seek de-escalation.

    External Affairs Minister S. Jaishankar clarified last week that while the US had reached out to India between May 7 and 10, it was not acting alone, and multiple countries had engaged with New Delhi during the period.

    -IANS

  • MIL-OSI Asia-Pac: EDB announces arrangements for fifth round of Basic Law and National Security Law Test in 2024/25 school year

    Source: Hong Kong Government special administrative region

    EDB announces arrangements for fifth round of Basic Law and National Security Law Test in 2024/25 school year 
         The target participants for the fifth round of the test are persons with a bachelor’s degree or those who will attain a bachelor’s degree in the 2024/25 or 2025/26 academic year and are planning to join or change to another secondary school, primary school or kindergarten to take up a teaching post. Applications can be made through the EDB’s online application system (www.edb.gov.hk/en/blnst 
    Issued at HKT 11:32

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: No. 3 alarm fire in Tin Shui Wai (2)

    Source: Hong Kong Government special administrative region

    No. 3 alarm fire in Tin Shui Wai (2)     
    Two persons felt unwell and were sent to Tuen Mun Hospital and Tin Shui Wai Hospital for treatment respectively.
    Issued at HKT 11:35

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: GDS Announces Proposed Offering of US$450 Million Convertible Senior Notes

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company plans to use the net proceeds from the Notes Offering for working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.

    When issued, the Notes will be senior unsecured obligations of GDS. The Notes will mature on June 1, 2032, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.

    Prior to the close of business on the business day immediately preceding December 1, 2031, the Notes will be convertible only upon satisfaction of certain conditions and during certain periods. On or after December 1, 2031 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their Notes at their option at any time. Upon conversion, the Company will pay or deliver, as the case may be, cash, the Company’s American depositary shares, each representing eight Class A ordinary shares (the “ADSs”), or a combination of cash and ADSs, at the Company’s election. Holders may also elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, subject to certain procedures and conditions set forth in the terms of the Notes. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.

    The Company may redeem for cash all but not part of the Notes (i) in the event of certain tax law changes (a “Tax Redemption”) and (ii) if less than 10% of the aggregate principal of amount of notes originally issued (for the avoidance of doubt, including the notes issued upon the exercise of the initial purchasers’ option to purchase additional notes) remains outstanding at such time (a “Cleanup Redemption”). The Notes will not be redeemable before June 6, 2029, except in connection with a Tax Redemption or Cleanup Redemption. On or after June 6, 2029 and on or prior to the 40th scheduled trading day immediately prior to the maturity date, the Notes will be redeemable, in whole or in part, for cash at the Company’s option at any time, and from time to time, if (x) the notes are “freely tradable” (as will be defined in the indenture for the Notes), and all accrued and unpaid additional interest, if any, has been paid in full, as of the date we send such notice and (y) the last reported sale price of the ADSs has been at least 130% of the conversion price then in effect on (i) each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately prior to the date the Company provides notice of redemption and (ii) the trading day immediately preceding the date the Company sends such notice (such redemption, an “Optional Redemption”). The redemption price in the case of a Tax Redemption, Cleanup Redemption or an Optional Redemption will equal 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.

    Holders of the Notes may require the Company to repurchase for cash all or part of their Notes on June 1, 2029. In addition, holders of the Notes have the option, subject to certain conditions, to require the Company to repurchase any Notes held in the event of a “fundamental change” (as will be defined in the indenture for the Notes). The repurchase price, in each case, will be equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.

    The Company expects that certain purchasers of the Notes may establish a short position with respect to its ADSs by short selling its ADSs or by entering into short derivative positions with respect to its ADSs (including entering into derivatives with an affiliate of an initial purchaser in the Notes Offering), in each case, in connection with the Notes Offering. Any of the above market activities by purchasers of the Notes could increase (or reduce any decrease in) or decrease (or reduce any increase in) the market price of the Company’s ADSs or the Notes at that time, and the Company cannot predict the magnitude of such market activity or the overall effect it will have on the price of the Notes or its ADSs.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of a certain number of its ADSs (the “Borrowed ADSs”) that the Company will lend to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering in order to facilitate privately negotiated derivative transactions by some holders of the Notes for purposes of hedging their investment in the Notes. The Company expects to enter into an ADS lending agreement (the “ADS Lending Agreement”) with the ADS Borrower pursuant to which the Company will lend the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs and the Company will not receive any of those proceeds, but the ADS Borrower will pay the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company’s ADSs or the Notes otherwise prevailing at that time.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Primary ADSs Offering”) of 5,200,000 ADSs (the “Primary ADSs”), subject to market and other conditions. The underwriters in the Primary ADSs Offering will have a 30-day option to purchase up to 780,000 additional ADSs.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes, the Borrowed ADSs or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADSs Offering is conditioned upon the closing of each of the other offerings and vice versa. If the Notes Offering is not consummated, the concurrent Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the concurrent Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof, have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network –

  • MIL-OSI Russia: Chinese Premier vows to strengthen alignment of ASEAN, GCC strategies for common 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

    KUALA LUMPUR, May 27 (Xinhua) — China is willing to strengthen the alignment of development strategies with countries of the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC) to continuously open up new prospects for common development.

    Li Qiang made the remarks while speaking at the opening ceremony of the ASEAN-China-GCC Economic Forum 2025.

    The successful holding of the ASEAN-China-GCC Summit opened a new chapter in trilateral cooperation, the Premier said, adding that the summit held in-depth discussions on the theme of “jointly creating opportunities, sharing prosperity”, which were of great significance.

    The head of the Chinese government noted that in the modern world, jointly overcoming challenges is equivalent to creating new opportunities.

    According to Li Qiang, in the face of intensifying geopolitical conflicts and confrontation, a firm commitment to deepening mutual trust and strengthening unity can create long-term strategic opportunities and ensure sustainable and stable development.

    In the face of rising protectionism and unilateralism, a firm commitment to expanding openness and removing barriers can open up broad market opportunities and allow all countries to reap greater benefits from jointly building a large market, the premier stressed.

    In the face of the growing trend towards “decoupling and decoupling” and “erecting walls and barriers,” he continued, a strong commitment to resource sharing and mutual strengthening of capabilities can create opportunities for upgrading and transformation, improving industrial efficiency and enhancing the sustainable development dynamics of all countries.

    Li Qiang noted that the friendly cooperation between China, ASEAN and GCC countries has a long history and deep roots.

    Based on such a solid historical foundation, the trilateral cooperation will definitely bring new achievements and its prospects will become even more promising, Li Qiang said, stressing that the three sides will have more space for development, higher economic efficiency and a more vibrant innovation ecosystem.

    China is willing to work with ASEAN and GCC countries to strengthen the alignment of development strategies, deepen regional integration, firmly safeguard the multilateral trading system with the World Trade Organization at its core, maintain the stable and smooth operation of industrial and supply chains, and continuously open up new prospects for common development, the premier added.

    Li Qiang stressed that China will continuously inject new impetus into trilateral cooperation through its own high-quality development.

    Speaking about the development trend, he noted that since the beginning of this year, China’s economy has continued to recover and improve continuously, fully demonstrating strong resilience.

    Li Qiang quoted Chinese President Xi Jinping as saying that “the Chinese economy is a vast ocean, not a small pond.” The premier said the ocean can withstand fierce storms and emerge even deeper and more massive, more inclusive and more open after the storm subsides.

    Noting that China has clearly articulated a proactive macroeconomic policy orientation and intends to further strengthen counter-cyclical adjustments, Li Qiang said the Chinese government and people have the ability and confidence to maintain a steady and long-term course for the “big ship” of the Chinese economy despite all possible challenges in the future.

    At the same time, in strategic terms, he specified, China will focus more on expanding domestic demand and strengthening domestic economic circulation, constantly strengthening the internal driving forces of its economy.

    Li Qiang stressed that China also plans to resolutely and steadily expand high-level opening-up and promote mutual strengthening of domestic and international economic circulation, so that enterprises from ASEAN and GCC member countries and the rest of the world can seize the opportunities brought by China’s development.

    Speaking at the opening ceremony of the forum, Malaysian Prime Minister Anwar Ibrahim, for his part, emphasized that the adoption of a joint statement following the first ASEAN-China-GCC summit sent a strong signal to the world about the commitment of the three parties to unity and cooperation.

    As the head of the Malaysian government pointed out, China is an important partner for ASEAN and GCC countries, playing an important role in promoting economic development, maintaining peace and stability, and upholding international fairness and justice.

    Anwar Ibrahim said ASEAN firmly adheres to the concept of independence and self-reliance and is committed to deepening partnership with China and the GCC members and strengthening mutually beneficial cooperation with them in areas such as economy, trade and investment, so as to make greater contributions to the prosperity and stability of the region and the world at large. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Dalian Port Resumes International Cruise Ship Departures After 5-Year Break

    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

    DALIAN, May 27 (Xinhua) — The international cruise ship Adora Mediterranea set sail from the port of Dalian in northeast China on Tuesday evening, marking the resumption of international cruise services from the port after a five-year hiatus.

    The ship departed from Dalian International Cruise Center with 2,618 passengers on board. The cruise route includes popular destinations such as the Japanese cities of Fukuoka and Sasebo, as well as Jeju Island in the Republic of Korea.

    The 292m long Adora Mediterranea, with a gross tonnage of 86,000 gross tons, can accommodate up to 2,680 passengers, offering guests 1,057 cabins and suites.

    According to Adora Cruises Limited Business Development Director Guo Jia, the ship is scheduled to make a total of five international voyages from its home port of Dalian during peak seasons in May, June and September. Each voyage will last five days and four nights, she said. –0–

    MIL OSI Russia News –

  • MIL-OSI Global: How ongoing deforestation is rooted in colonialism and its management practices

    Source: The Conversation – France – By Justine Loizeau, Postdoctoral research fellow in sustainability and organization, Aalto University

    As early as 1917, the Michelin company invested in plantations to produce rubber in what is now Vietnam. Here, hevea trees are seen in Southeast Asia in 1913. W. F. de Bois Maclaren, The Rubber Tree Book.

    Half of the world’s forests were destroyed during the 20th century, with three regions mainly affected: South America, West Africa and Southeast Asia. The situation has worsened to the point that, in 2023, the European Parliament voted to ban the import of chocolate, coffee, palm oil and rubber linked to deforestation.


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    A long-standing dependence on raw materials

    These products are at the heart of our economies and consumption habits. The case of rubber is particularly emblematic. Without this material, there would be no tyres and, thus, no cars, bicycles, sealing joints or submarine communication cables. Industrial rubber production depends on extracting latex, a natural substance that rubber trees such as hevea produce. Under pressure from corporations and states, Brussels last October announced a one-year postponement of its law regulating rubber imports.

    This dependence on the rubber industry is not new. Rubber was central to the second industrial revolution, especially with the rise of automobiles and new management methods. While this history often centres on factories, citing contributions from figures such as Frederick Taylor and Henry Ford and industrial giants like Michelin, its colonial roots are less well known.

    Indeed, rubber – like the other resources mentioned above – has been and continues to be primarily produced in former colonial territories. In many cases, rubber trees are not native to the regions where they have been cultivated. Rubber seeds from South America, where latex was already extracted by picking, were transported by colonists to empires for the development of plantations. In particular, the French colonial empire, spanning Africa and Southeast Asia, saw a significant expansion of hevea plantations at the expense of primary forests. Monocultures of rubber trees replaced thousands of hectares.

    Ford in the Amazon, Michelin in present-day Vietnam

    This management model was favoured because it allowed for lower extraction costs from the coloniser’s perspective. For example, in 1928, Henry Ford negotiated an agreement with the Brazilian government granting him a 10,000 km2 concession of forest land to establish Fordlandia, a settlement designed to produce the rubber needed for his factories. However, this industrial utopia in the Amazon failed due to resistance from Indigenous people and a fungal disease that ruined the plantations.

    Business Insider reports on the Fordlandia fiasco.

    Following the same model, Michelin invested in plantations in present-day Vietnam as early as 1917. The plantation model and new management methods reduced the cost of rubber production and accelerated its global distribution. These management practices spread across the British, Dutch and French empires, becoming dominant in Southeast Asia in the early 20th century at the expense of primary forests.



    À lire aussi :
    Allowing forests to regrow and regenerate is a great way to restore habitat

    The ‘Taylorization’ of work and nature

    Rubber plantations resulted from applying Taylorism not only to workers – especially colonised workers – but also to nature. Both people and trees were subjected to a so-called “scientific” organisation of labour. In our article, L’arbre qui gâche la forêt The Tree That Spoils the Forest, published in the Revue française de gestion (French Journal of Management) in 2024, we analysed historical archives, including a variety of newspapers from 1900 to 1950, covering national, local, colonial and thematic (scientific, cultural, etc.) perspectives. We show that this organisational model is based on an accounting undervaluation of indigenous people’s labour and of nature. This undervaluation is embodied in the metric of the cost price (i.e. the total cost of production and distribution) and in the shared concern to see it lowered. “Ultimately, it’s the cost price that must determine the fate of rubber,” stated the newspaper L’Information financière, économique et politique on February 1, 1914.

    In the eyes of some, Asians who were labelled as “coolies” and Brazilian “seringueiros” comprised a low-cost labour pool, with no mention of their working conditions and despite very high mortality rates. “Coolie” is a derogatory colonial term that refers to agricultural labourers of Asian heritage, while “seringueiros” refers to workers in South American rubber plantations.

    “By the way, in the Far East, there are reservoirs of labour (Java Island, English Indies), which supply plantations with workers who, while not the most robust, provide regular work at a very advantageous cost price.” (L’Information financière, économique et politique, November 11, 1922)

    Concerning trees, only the plantation costs were considered, silencing the human and ecological costs of primary forest destruction.

    “In the first year, some 237 francs will have to be spent on the clearing itself; then the planting, with staking […] and weeding, will represent an expense of 356 francs. […] For the following years, all that remains to be done is to consider the maintenance costs, cleaning, pruning, care, supply of stakes, replacement, etc. This will result in an expenditure of 1,250 francs for the first five years.” (L’Information financière, économique et politique, January 31, 1912)

    The ‘Cheapization’ of life

    The focus on cost price leads to standardisation of management practices by aligning with what is cheapest, at the expense of ever more intense exploitation of human and non-human workers. In other words, these assumptions about the construction of accounting metrics and the circulation of these metrics play a role in the “cheapization” of human and non-human labour. We borrow the concept of “cheapization” from the environmental historian Jason W. Moore. In his view, the development of capitalism is marked by a “cheapization of Nature”, which includes, within the circuits of capitalist production and consumption, humans and non-humans whose work does not initially have a market value. Living beings are thus transformed into a commodity or factor of production: “animals, soils, forests and all kinds of extra-human nature” are being put to work.



    À lire aussi :
    What actually makes avocados bad for the environment?

    Why does this colonial past matter?

    These ways of managing people and nature continue to this day. Many industries still rely on the extraction of natural resources at low cost and in large quantities in the countries of the global south. Rubber is not the only resource whose exploitation dates to the Industrial Revolution: palm oil, sugar, coffee and cocoa have also had, and still have, an impact on the forests of the global south and are based on the work of local people. The exploitation of these resources is also often the fruit of colonial history. In 1911, the Frenchman Henri Fauconnier brought the first palm oil seeds, a plant originally from Africa, to Malaysia. More than a century later, the country remains a leading palm oil producer, a resource largely responsible for the deforestation of primary forests.

    Beyond the case of rubber alone, we question the link between the pursuit of profit in formerly colonised territories, the destruction of the environment and the exploitation of local populations on two levels. Not only are primary forests destroyed to feed short-term profits, but habituation to this mode of environmental management is a historical construct. We must remember this when looking at news from countries with colonial pasts. Whether we’re talking about preserving the Amazon rainforest, poisoning soil and human bodies with chlordecone in the Antilles, or building a pipeline in Uganda, we need to take a step back. What are the historical responsibilities? What are the links between creating economic activities here and exploiting ecosystems and local populations there? What role do management theories and tools play in realising or reproducing these exploitative situations?

    At a time when the ecological and social emergency is constantly invoked to call for the transformation of management practices and business models, the rubber example invites us to consider the colonial matrix of managerial practices and the Western historical responsibilities that led to this same emergency. And suppose we have to turn to other forms of management tomorrow: who may legitimately decide how to bring about this change? Are former colonisers best placed to define the way forward? Knowledge of colonial history should encourage us to recognise the value of the knowledge and practices of those who were and remain the first to be affected.

    The COCOLE project is supported by the French National Research Agency (ANR), which funds project-based research in France. The ANR’s mission is to support and promote the development of fundamental and applied research in all disciplines, and to strengthen dialogue between science and society. To find out more, visit the ANR website.

    Antoine Fabre has received funding from the French National Research Agency
    via the programme “Counting in a colonial situation. French Africa (1830-1962)” (ANR-21-CE41-0012, 2021-2026).

    Pierre Labardin is a professor at La Rochelle University. He has received funding from the French National Research Agency via the programme “Counting in a colonial situation. French Africa (1830-1962)” (ANR-21-CE41-0012, 2021-2026).

    Clément Boyer et Justine Loizeau ne travaillent pas, ne conseillent pas, ne possèdent pas de parts, ne reçoivent pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’ont déclaré aucune autre affiliation que leur poste universitaire.

    – ref. How ongoing deforestation is rooted in colonialism and its management practices – https://theconversation.com/how-ongoing-deforestation-is-rooted-in-colonialism-and-its-management-practices-257578

    MIL OSI – Global Reports –

  • MIL-OSI USA: ICYMI: Graham Responds to the Editor: The U.S. Senate Won’t Tolerate Putin’s Games

    US Senate News:

    Source: United States Senator for South Carolina Lindsey Graham

    In Case You Missed It

     

    Graham Responds To The Editor: The U.S. Senate Won’t Tolerate Putin’s Games

    The South Carolina Republican sends a message to Moscow.

    To: The Editor

    Re: Your Editorial “A Sanctions Message to Putin—and China” (May 21)

    From: U.S. Senator Lindsey Graham (R-South Carolina)

    The Wall Street Journal

    May 26, 2025

    https://www.wsj.com/opinion/the-u-s-senate-wont-tolerate-putins-games-vladimir-russia-war-ukraine-sanctions-16780c2f?mod=letterstoeditor_article_pos1

    Regarding your editorial “A Sanctions Message to Putin—and China” (May 21): Since taking office, President Trump has earnestly sought to bring Ukraine and Russia together to achieve a just and honorable peace, ensuring global stability. That is more important now than ever. America’s shameful withdrawal from Afghanistan didn’t merely damage our reputation; it set in motion aggression across the world. If the U.S. continues to lead decisively on bringing the Russia-Ukraine war to an end, that could change. Mr. Trump can restore our reputation—and end the bloodbath.

    Yet peace requires willing partners. While Ukraine has made clear it is ready for such an end, Russia has made more excuses than the market can bear. President Trump has asked Vladimir Putin to provide a term sheet outlining the requirements for a cease-fire, bringing the roadblocks to peace to a head. Depending on how Russia responds, we will know which course to take.

    The Senate is prepared either way. I have coordinated with the White House on the Russia sanctions bill since its inception. The bill would put Russia on a trade island, slapping 500% tariffs on any country that buys Moscow’s energy products. The consequences of its barbaric invasion must be made real to those that prop it up. If China or India stopped buying cheap oil, Mr. Putin’s war machine would grind to a halt.

    The sanctions bill has 82 co-sponsors. As Sen. Thune said last week, if Mr. Putin continues to play games, the Senate will act. I’m hoping for the best, but when it comes to the thug in Moscow, we should all prepare for more of the same.

    Sen. Lindsey Graham (R., S.C.)

    Seneca, S.C.

    MIL OSI USA News –

  • MIL-OSI: iQor CXBPO™ Expands in Santa Rosa With a New State-of-the-Art CX Facility

    Source: GlobeNewswire (MIL-OSI)

    FT. LAUDERDALE, Fla., May 27, 2025 (GLOBE NEWSWIRE) — iQor CXBPO™, an award-winning customer experience business process outsourcing (BPO) solutions provider, today announced the expansion of its operations in Santa Rosa, Philippines. The new facility enhances iQor’s ability to support its growing client base while reinforcing its commitment to delivering best-in-class customer experiences.

    “At iQor, we harness technology and innovation to create exceptional experiences for our employees and clients,” said Regional President – Philippines Fleurette Navarro. “Santa Rosa’s strong infrastructure and skilled workforce make it an ideal location for our continued growth. This expansion strengthens our ability to deliver outstanding CX solutions and AI-powered analytics while fostering a dynamic work environment that benefits our team members and the local community.”

    Santa Rosa’s 25,000-square-foot site adds 400 seats, with room to grow. This expansion brings iQor’s footprint in the Philippines to 18 locations totaling over 1 million square feet.

    “The continued growth of the BPO industry in the Philippines reaffirms our country’s position as a premier destination for innovation, talent, and service excellence,” said Jack Madrid, President and CEO of IBPAP. “iQor’s expansion highlights the confidence that global companies place in the capabilities of the Filipino workforce. We welcome their ongoing investment, which contributes to the professional development of our people and strengthens the country’s leadership in the global customer experience arena.”

    iQor’s infinityAiQ™ platform harnesses AI to enhance every stage of the customer experience journey through technology, talent, and data-driven insights. From recruiting and training to performance management and compliance, infinityAiQ™ empowers high-performing teams with intelligent tools and real-time analytics. These innovations accelerate hiring and onboarding while driving efficiency, agility, and customer satisfaction that accelerates business growth for clients.

    iQor is a value-driven, Great Place to Work®-Certified™ global business process outsourcing organization committed to creating rewarding experiences and human connections. Employees enjoy flexible work-in-office and work-at-home positions. iQor’s 18 contact centers in the Philippines archipelago span Luzon, Visayas, and Mindanao. Interested candidates are encouraged to apply at https://apply.iqor.com.

    About iQor CXBPO™
    iQor CXBPO™ is a trusted partner in intelligent customer experience solutions, delivering exceptional results for global brands. With 40,000 employees across 10 countries, we combine 30 years of industry expertise with cutting-edge AI-driven innovations to optimize customer interactions at every stage. Our agile, scalable solutions ensure seamless omnichannel engagement, driving loyalty and measurable business success. Recognized as a Great Place to Work® and a leader in CX excellence, we elevate performance through a people-first approach, operational expertise, and secure, technology-enabled solutions. Learn more at iQor.com.

    The MIL Network –

  • MIL-Evening Report: One couple, two apartments, different surnames for the children: how ‘two places to stay’ is shaping families in China

    Source: The Conversation (Au and NZ) – By Xiaoying Qi, Associate Professor, School of Arts and Humanities, Australian Catholic University

    During fieldwork in cities in China I came across a new marital practice, locally described as liang-tou-dun, literally “two places to stay”.

    A bride and groom, each an only child of their respective family, receive from each set of parents a wedding apartment. The young couple thus has two marriage apartments which they may occupy at different times.

    If a couple with “two places to stay” has two children, it is likely one will have the father’s surname and the other the mother’s. This ensures that the familial lines of both families continue – but it can also entrench inequalities between siblings.

    What’s in a name?

    A child being given the mother’s surname is unconventional. The norm in China is that children take their fathers’ surname, even though Chinese women retain their birth surname after marriage.

    The adoption of patronyms – family names handed down through the male line – historically served as an instrument of consolidation for hereditary property owners. But in China patronyms lost this purpose when the Communist Party came to power in 1949 and abolished private property and inheritance. Still, patronyms persisted.

    Women in China traditionally keep their own name when they get married.
    Snowscat/Unsplash, FAL

    From 1978, Chinese government reforms led to a transition from a planned to a market economy. Since then, many Chinese families have accumulated significant wealth. Such families are focused on how to prevent the loss of property from their family line through inheritance.

    This is a real matter of concern for daughter-only families which have become numerically significant as a result of the one-child policy. This was in place from 1980 to 2015, and many (but not all) families were limited to having just one child.

    A place to stay

    Traditionally, a wife enters her husband’s family and the children take on their father’s surname.

    A traditional solution for a family without a male heir is zhao-xu, the phrase for a marriage where a man marries into his wife’s family, living with or in close proximity to her family.

    Zhao-xu not only requires cohabiting after marriage with the wife’s parents, but also that their children take the mother’s surname, ensuring continuance of the mother’s family’s line.

    A daughter-only family requires her essential role in the continuation of her family lineage.
    Macro.jr/Unsplash, FAL

    This traditional form readily adapts to the needs of daughter-only families in contemporary China. Sons-in-law in these families generally come from families with more than one son, so the husband’s family’s line is not threatened. In these circumstances the wife’s family provides a wedding apartment, furniture, household equipment, dowry and wedding banquet.

    Traditionally in China it is a son’s responsibility to support and care for his ageing parents. A daughter-only family requires her to take an essential role in carrying out elderly support obligations.

    Two names, two places

    An alternative to zhao-xu is “two places to stay”, where the bride’s parents provide her with a wedding apartment and the groom’s parents provide him with a wedding apartment. This tends to happen for young couples who are each an only child in their respective families.

    With owning two apartments, the young couple marries into neither family, but instead maintains close relationships with both. They move between two apartments, occupying one for a certain period of time and then the other.

    As each set of parents endows the young family, the grandparents play an important role in the choice of their grandchildren’s surname. If the young couple has two children then a perfect solution to continuing both family lines is that one child takes the father’s surname and the other the mother’s.

    Grandparents play an important role in the lives of their grandchildren.
    Li Lin/Unsplash, FAL

    First-born children, especially sons, have a special role in the continuity of a family line, and so it is likely the firstborn will take the father’s name.

    But if the young wife’s family has higher social or economic standing than her husband’s, it is likely the first child will take the mother’s surname.

    “Two places to stay” may generate inequalities within families. Grandparents tend to provide resources (educational, recreational and medical) to the grandchild who shares their surname.

    Because of the differences of access to resources, the future education and career prospects of siblings will reflect not their immediate family background, but the different endowments of their respective grandparents.

    Two places to stay is a new form of marriage in China, and a new form of surnaming siblings. It is a new way of doing family, an innovation in intergenerational relations.

    Xiaoying Qi received research funding from The Hong Kong Baptist University’s Start-Up Grant and the Sociology Department Research Fund.

    – ref. One couple, two apartments, different surnames for the children: how ‘two places to stay’ is shaping families in China – https://theconversation.com/one-couple-two-apartments-different-surnames-for-the-children-how-two-places-to-stay-is-shaping-families-in-china-255877

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Australia could tax Google, Facebook and other tech giants with a digital services tax – but don’t hold your breath

    Source: The Conversation (Au and NZ) – By Fei Gao, Lecturer in Taxation, Discipline of Accounting, Governance & Regulation, The University of Sydney, University of Sydney

    Tada Images/Shutterstock

    Tech giants like Google, Facebook and Netflix make billions of dollars from Australian users every year. But most of those profits are not taxed here.

    To address this tax gap, some countries have introduced a new kind of tax called the digital services tax, or DST. It applies to revenue earned from users in a country, even if the company has no physical operations there. Some European Union member countries, the UK and Canada have all introduced such a tax.

    In Australia, it is estimated the five largest tech giants recorded A$15 billion in revenue in Australia last year, but combined they paid only $254 million in tax.

    Australia has never contemplated imposing a similar tax. New Zealand tried but backed down last week after the United States threatened to impose higher tariffs on New Zealand goods.

    So what’s holding Australia back?

    How 20th-century tax treaties create 21st-century problems

    To understand why Australia thinks its hands are tied on the taxation of the multinational tech giants, we need to step back in time.

    About 100 years ago, Australia and other developed nations decided to tax residents on all their income earned worldwide, while non-residents were taxed only on income earned locally.

    After the second world war, Australia entered into tax treaties so foreign companies selling to Australian customers would no longer be taxed here. Instead, those companies’ home countries would tax all their profits.

    As the world moved to digital products this century, it became easy for giant multinational enterprises offering advertising on social media (such as Facebook and Instagram), advertising on search platforms (Google), and streaming services (Netflix) to provide those services from abroad. Little or no activity is conducted through local branches.

    But countries where the sales are made have increasingly questioned the wisdom of having forfeited their taxing rights over income by foreign providers.

    The rise of the digital services tax

    The obvious solution would have been to renegotiate the treaties. This would restore the right of countries like Australia to tax foreign companies’ profits made from local customers or users.

    However, treaty renegotiation is slow and complex. So several European countries, beginning with France in 2019, came up with a short-cut solution.

    They introduced a discrete new tax on sales of digital services, called digital services taxes (DSTs). While the specific design varies by country, most DSTs apply a low tax rate, typically between 3% and 5%, on revenue rather than profits. They target large digital platforms that earn money from users within the taxing country, regardless of the company’s location.

    Because DSTs are levied on revenue and are structured as separate from income tax, governments argued they could be introduced without breaching income tax treaties.

    The new taxes quickly became popular and spread widely.
    In Australia, the Greens have called for a DST, but both major parties have remained steadfast in their objection to a new tax. This is due to the concern that the US may impose retaliatory tariffs on Australian goods.

    US tech bosses at the inauguration of President Trump: (from left to right) CEO of Meta Mark Zuckerberg, Lauren Sanchez, Amazon founder Jeff Bezos, CEO of Google Sundar Pichai and X CEO Elon Musk.
    Julia Demaree Nikhinson/AFP

    How big is the tax loss?

    Australians are enthusiastic consumers of digital products. Depending on which companies are included in the calculation, the annual revenues vary between $15 billion and $26 billion a year, but only a fraction of that is taxed here.

    At a time when the federal budget is forecasting deficits for the foreseeable future, Australia is foregoing potentially millions in lost revenue from these digital giants.

    While Australia has avoided a DST as a solution to the income tax loss, it has been willing to regulate and tax foreign digital companies in other ways.
    Australia collects 10% goods and services tax, or GST, on digital services provided to Australian companies, including streaming platforms and app subscriptions.

    This helps ensure foreign providers are taxed similarly to domestic ones when it comes to the GST.

    Australia has also imposed non-tax obligations on digital giants such as the requirement that digital platforms pay Australian media outlets for using their news content.



    Read more:
    Australia’s ‘coercive’ news media rules are the latest targets of US trade ire

    Serious hurdles for reform

    In February, the Trump administration described DSTs as tools used by foreign governments to “plunder American companies” and warned retaliatory tariffs would be imposed in response.

    The accompanying White House fact sheet singled out Australia and Canada, arguing the US digital economy dwarfs those countries’ entire economies. It suggested any attempt to tax US tech companies would not go unanswered.

    Six weeks later, the US imposed a 10% tariff on most Australian exports to the US and a 25% tariff on steel and aluminium exports.

    The US sees its penal tariff plans as a useful negotiating tool to pressure trading partners into retreat on a broad range of peripheral complaints, including the digital services tax.

    To date, only two countries have retreated: New Zealand and India. Other countries are standing firm.

    In Australia, the Greens have called for the adoption of a DST, but the current and previous governments remain firm in their opposition. There is concern about antagonising the US at a delicate time when our broader trade relations are under scrutiny.

    For the foreseeable future, the digital giants will continue to earn billions from Australian users. Most of those profits will remain beyond the reach of Australian tax law.

    Richard Krever receives funding from the ARC

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

    – ref. Australia could tax Google, Facebook and other tech giants with a digital services tax – but don’t hold your breath – https://theconversation.com/australia-could-tax-google-facebook-and-other-tech-giants-with-a-digital-services-tax-but-dont-hold-your-breath-257251

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: GDS Announces Launch of Proposed Public Offering of ADSs

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed offering of 5,200,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share, subject to market and other conditions, in an underwritten registered public offering (the “Primary ADSs Offering”). The underwriters will have a 30-day option to purchase up to 780,000 additional ADSs.

    The Company will receive all of the net proceeds from the Primary ADSs Offering and plans to use such net proceeds for general corporate purposes, working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.

    The Company also announced today by separate press release that the Company has commenced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of a certain number of its ADSs (the “Borrowed ADSs”) that the Company will lend to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering in order to facilitate privately negotiated derivative transactions by some holders of the Notes for purposes of hedging their investment in the Notes. The Company expects to enter into an ADS lending agreement (the “ADS Lending Agreement”) with an affiliate of the initial purchaser of the Notes Offering (such affiliate being the “ADS Borrower”), pursuant to which the Company will lend the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs and the Company will not receive any of those proceeds, but the ADS Borrower will pay the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company’s ADSs otherwise prevailing at that time.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes, the Borrowed ADSs or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADSs Offering is conditioned upon the closing of each of the other offerings and vice versa. If the concurrent Notes Offering is not consummated, the Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the concurrent Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    J.P. Morgan, BofA Securities, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers, and China Galaxy International and Guotai Junan International are acting as financial advisors for the Primary ADSs Offering.

    The Company has filed an automatic shelf registration statement on Form F-3 with the SEC. A prospectus supplement and the related base prospectus describing the terms of the Primary ADSs Offering have been filed with the SEC. When available, the final prospectus supplement for the Primary ADSs Offering will be filed with the SEC. The Primary ADSs Offering is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus supplement and the accompanying base prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting: (i) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; (ii) BofA Securities, Inc., One Bryant Park, New York, NY, 10036, Attention: Prospectus Department, telephone: +1 (800) 294-1322, email: dg.prospectus_requests@bofa.com; (iii) Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or (iv) UBS Investment Bank, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network –

  • MIL-OSI: GDS Announces Proposed Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed registered public offering of American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share, which the Company intends to loan (such loaned ADSs, the “Borrowed ADSs”) to an affiliate of the underwriter in the offering (such affiliate, the “ADS Borrower”) pursuant to an ADS lending agreement with the ADS Borrower (the “ADS Lending Agreement”).

    The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs. The Company will not receive any proceeds from the ADSs Offering but will receive from the ADS Borrower a nominal lending fee, which will be applied to fully pay up the Class A ordinary shares underlying the Borrowed ADSs. The Company believes that the Borrowed ADSs will not be considered outstanding for the purpose of computing and reporting its earnings per ADS under the current U.S. Generally Accepted Accounting Principles and, therefore, the Company believes that no dilution will occur as a result of the Borrowed ADSs.

    The Company also announced today by separate press release that the Company has commenced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Primary ADSs Offering”) of 5,200,000 ADSs (the “Primary ADSs”), subject to market and other conditions. The underwriters in the Primary ADSs Offering will have a 30-day option to purchase up to 780,000 additional ADSs.

    Concurrently with the Notes Offering, an affiliate of the ADS Borrower will sell the Borrowed ADSs in a registered public offering (the “Delta Placement of Borrowed ADSs”) offered by us pursuant to a prospectus supplement and an accompanying prospectus, as described below. The number of Borrowed ADSs will be determined at the time of pricing of the Delta Placement of Borrowed ADSs, and such Borrowed ADSs are expected to be sold concurrently with the pricing of the Notes and the Primary ADS Offering. The Delta Placement of Borrowed ADSs is intended to facilitate privately negotiated derivative transactions so some investors in the Notes could concurrently hedge their investment in the Notes. The Company has been informed by the ADS Borrower that it or its affiliates intends to use the short position resulting from the Delta Placement of the Borrowed ADSs to facilitate privately negotiated derivatives transactions related to the Notes. The number of Borrowed ADSs to be sold will depend on what portion of Notes investors in the desire to hedge their investments and is expected to be no greater than commercially reasonable initial short positions of convertible arbitrage investors. The activity described above could affect the market price of the Company’s ADSs or the Notes otherwise prevailing at that time.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Borrowed ADSs, the Notes or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADS Offering is conditioned upon the closing of each of the other offerings and vice versa. If the concurrent Notes Offering is not consummated, the concurrent Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    The Company has filed an automatic shelf registration statement on Form F-3 with the SEC. A prospectus supplement and the related base prospectus describing the terms of the Delta Placement of Borrowed ADSs have been filed with the SEC. When available, the final prospectus supplement for the Delta Placement of Borrowed ADSs will be filed with the SEC. The Delta Placement of Borrowed ADSs is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus supplement and the accompanying base prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network –

  • Coco Gauff finds groove after forgetting rackets, Medvedev exits French Open

    Source: Government of India

    Source: Government of India (4)

    Coco Gauff forgot to take her rackets to the court but reminded her rivals of her French Open title ambitions with a commanding first-round win, while Daniil Medvedev was unable to string out his journey beyond the first round on a wet and windy Tuesday.

    Three-times champion Novak Djokovic overcame the difficult conditions to begin his bid for a record 25th Grand Slam title with a victory after last year’s finalist Alexander Zverev got off to a flier in his hunt for an elusive maiden major trophy.

    Former Roland Garros runner-up Gauff provided some early comic relief as the second seed grinned sheepishly and showed her empty bag to her entourage, who scampered to reunite her with her equipment before she beat Olivia Gadecki 6-2 6-2.

    “The most important thing is to play with a racket,” said Gauff, who jokingly posted a photo on X later of a to-do list that had ‘put tennis rackets in bag’ unchecked.

    “It probably relaxed me going into the match, because it was such a funny thing. I’m just happy to get through. I’ll remember my rackets next time.”

    The Madrid and Rome finalist made up for a slightly delayed start to her match on Court Philippe Chatrier by easing through the first three games and wrapped up the opening set with a brave hold after dropping serve earlier.

    There was no looking back from there as Gauff tightened her grip on the contest and booked a clash with Tereza Valentova.

    On the men’s side, third seed Zverev sealed a comprehensive 6-3 6-3 6-4 victory over Learner Tien, avenging a defeat by the 19-year-old American in Acapulco earlier this year.

    Medvedev was not as efficient, losing eight consecutive games after taking a 3-1 lead in the opening set against Cameron Norrie and his frustrations boiled over in a series of animated gestures towards his team during a 7-5 6-3 4-6 1-6 7-5 loss.

    Norrie enjoyed every bit of the Russian’s meltdown.

    “Every time I played Daniil, he’s never snapped. He’s never said anything. He’s just completely locked in and chops me every time,” Norrie said.

    “It was quite nice in the first set to see him freaking out and talking to his box and trying to look for answers.”

    Fellow Briton Jack Draper found all the answers after dropping the opening set against Mattia Bellucci, as the world number five prevailed 3-6 6-1 6-4 6-2 after 17th seed Andrey Rublev kept his cool to beat Lloyd Harris 6-4 4-6 6-3 6-1.

    SPIRITS LIFTED

    Earlier, Dusan Lajovic crashed out 6-2 6-4 7-6(4) to Kazakh lucky loser Alexander Shevchenko while Laslo Djere fell 6-3 6-4 7-6(6) to Australian ninth seed Alex De Minaur, much to the disappointment of the Serbian fans.

    Sixth seed Djokovic lifted their spirits, though, as the 38-year-old wrestled Mackenzie McDonald into submission with a dominant 6-3 6-3 6-3 win on the same court where he captured singles gold at the Paris Olympics last year.

    “It’s great to return here a year later. I don’t know how many Grand Slams I have left but this is special,” he said.

    “I feel good and here even better because I can relive the Olympics. Today it was a solid match throughout all three sets.

    “I know I can play at a better level than today but I’m satisfied. There’s the chance to make further history and that is the biggest motivation to work, improve and be here.”

    It was the end of the road for Bulgarian veteran Grigor Dimitrov after the 16th seed pulled up with a left thigh injury during his match against Ethan Quinn to exit a fourth straight Grand Slam due to retirement.

    In the women’s draw, former runner-up Sofia Kenin advanced to the second round after a 6-3 6-1 win over French number one Varvara Gracheva while Hailey Baptiste beat 2023 semi-finalist Beatriz Haddad Maia 4-6 6-3 6-1.

    Former world number one Victoria Azarenka became the oldest woman in the professional era since 1968 to win a singles Grand Slam main-draw match with a 6-0 6-0 scoreline, after the 35-year-old dished out a double bagel to Yanina Wickmayer.

    Marketa Vondrousova, the 2023 Wimbledon champion, breezed past Oksana Selekhmeteva 6-4 6-4 while sixth seed Mirra Andreeva beat Cristina Bucsa 6-4 6-3 to underline her title credentials after a run to last year’s semi-finals.

    Andreeva’s idol Ons Jabeur suffered a shock first round defeat by Magdalena Frech on Court Simonne Mathieu, as the twice quarter-finalist went down 7-6(4) 6-0.

    -Reuters

  • MIL-OSI: UAB “Atsinaujinančios energetikos investicijos” Starts Exchange And Cash Tender Offer For Notes ISIN LT0000405938

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE IN THIS STOCK EXCHANGE RELEASE BELOW.

    • Under the Exchange offer, the Noteholders of Notes ISIN LT0000405938 (EUR 2021/2025 Notes) may exchange the EUR 2021/2025 Notes to new senior unsecured Notes ISIN LT0000134439 (EUR 2025/2027 Notes) to be issued at an exchange ratio of 1 to 1. These EUR 2025/2027 Notes will carry an annual interest rate of 8.0% and be issued under Final Terms and Base Prospectus approved on 27 May 2025.
    • Investors participating in the Exchange offer will receive unpaid accrued interest in cash from 14 December 2024 until 13 June 2025 (including) to be paid on 16 June 2025.
    • Under Cash Tender offer the Noteholders of EUR 2021/2025 Notes may receive a cash payment of 99 per cent of Denomination per each EUR 2021/2025 Note tendered on 13 June 2025, plus unpaid accrued interest in cash from 14 December 2024 until 13 June 2025 (including) to be paid on 16 June 2025.
    • The Exchange offer period for Noteholders of EUR 2021/2025 Notes will run from 28 May 2025 to 11 June 2025, 2:30 pm CEST/3:30 pm Vilnius time.
    • Cash Tender offer period for Noteholders of EUR 2021/2025 Notes will run from 28 May 2025 to 12 June 2025, 2:30 pm CEST/3:30 pm Vilnius time.

    Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos” has launched its public offering of EUR 2025/2027 Notes and an offer to exchange its EUR 2021/2025 Notes for new EUR 2025/2027 Notes, or alternatively, to tender the EUR 2021/2025 Notes (Denomination of EUR 100,000 and integral multiples of EUR 1,000) for a cash payment of EUR 99.00 per Denomination. The objective is to refinance the EUR 2021/2025 Notes and issue new EUR 2025/2027 Notes in an amount up to EUR 65 million.
    Manager of Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos”: “With the exchange offer, we are offering existing EUR 2021/2025 Notes investors a possibility to conveniently switch their investment maturing on December 2025 to the newly issued debt securities. As to the cash offer, since after the sale of Polish PV portfolio at the end of 2024 the company has collected excess cash proceeds, it was decided to provide an additional liquidity opportunity for existing investors to tender their notes to the Issuer. The company has allocated up to EUR 10 million for the tender offer which can be increased up to EUR 30 million subject to demand of new EUR 2025/2027 Notes.”
    Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos” has appointed FMĮ UAB Orion Securities to act as the Lead Manager to UAB “Atsinaujinančios energetikos investicijos” in Exchange and Cash Tender offer for EUR 2021/2025 Notes.

    EXCHANGE AND CASH OFFER
    Noteholders of the EUR 2021/2025 Notes (ISIN LT0000405938) are invited to:

    • Exchange their existing EUR 2021/2025 Notes (ISIN LT0000405938) at a 1:1 ratio for new senior unsecured EUR 2025/2027 Notes (ISIN LT0000134439) with a denomination of EUR 100,000 and integral multiples of EUR 1,000, carrying an annual interest rate of 8.0% to be issued under Final Terms and Base Prospectus approved on 27 May 2025.
    • In case there is an oversubscription of EUR 2025/2027 Notes the investors shall be satisfied and the number of EUR 2025/2027 Notes to be allocated to each investor shall be determined upon the discretion of the Issuer.

    Alternatively, the Noteholders of the EUR 2021/2025 Notes (ISIN LT0000405938) may:

    • Tender their existing EUR 2021/2025 Notes (ISIN LT0000405938) for cash payment of 99 per cent of Denomination per each EUR 2021/2025 Note tendered to be paid on 13 June 2025, plus accrued and unpaid interest from 14 December 2024 until 13 June 2025 (including) to be paid on 16 June 2025.
    • Cash offer is of minimum EUR 10 million; cash offer maximum amount of EUR 30 million is subject to demand of new EUR 2025/2027 Notes.

    The existing EUR 2021/2025 Notes not exchanged or tendered will remain outstanding and be redeemed at maturity.

    INFORMATION ON OFFERING PROCESS
    All noteholders will be notified of the offer through their depository banks. Upon instructing their custodian to participate—either by exchanging notes or tendering for cash—the respective EUR 2021/2025 Notes will be restricted from trading. Notes not instructed for participation will remain freely tradable.
    Exchange Offer Period: 28 May 2025 – 11 June 2025, closing at 2:30 pm CEST / 3:30 pm Vilnius time.
    Results Announcement: On or around 13 June 2025.

    NEW EUR 2025/2027 NOTES

    Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos” intends to issue new EUR 2025/2027 Notes in an amount of EUR 65 million with the following features:

    • Interest rate of 8.0% per annum.
    • Maturity of 2,5 years.
    • Terms and conditions: Final Terms and Base Prospectus. Documents are available at: https://lordslb.lt/AEI_green_bonds_2025/.
    • Listing on Nasdaq Vilnius Stock Exchange (Regulated Market).
    • Distribution period: from 28 May 2025 to 11 June 2025, 2:30 pm CEST/3:30 pm Vilnius time.

    INVESTOR PRESENTATIONS
    Manager of Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos” Mantas Auruškevičius will present the offer via webcast/conference call:

    • English-language session: 4 June 2025 at 13:00 CEST / 14:00 Vilnius time. Please register in advance to attend:

    https://us06web.zoom.us/webinar/register/WN_d32cZE8xSqyFs8tcMpwLqA#/registration

    • Lithuanian-language session: 5 June 2025 at 9:00 CEST / 10:00 Vilnius time. Please register in advance to attend:

    https://us06web.zoom.us/webinar/register/WN_wxUoUAWzQ9244uO9HlNX-g#/registration

    CONTACT INFORMATION

    For questions about the Exchange offer, please contact Orion Securities via email: corporateaction@orion.lt, phone: +37068758168.
    Further details and required documents are available at: https://lordslb.lt/AEI_green_bonds_2025/

    IMPORTANT INFORMATION
    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or any other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Persons into whose possession this announcement may come are required to inform themselves of and observe all such restrictions.
    This announcement does not constitute an offer of securities for sale in the United States of America. The notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States of America and may not be offered or sold, directly or indirectly, within the United States of America or to, or for the account or benefit of, U.S. persons (as defined under Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
    This announcement does not constitute an offer of notes to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the notes. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “Relevant Persons”). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.

    Mantas Auruškevičius
    Manager of Closed – End Investment Company Intended for Informed Investors
    UAB “Atsinaujinančios energetikos investicijos”
    mantas.auruskevicius@lordslb.lt

    The MIL Network –

  • MIL-OSI United Nations: Headquarters to Observe International Day of United Nations Peacekeepers

    Source: United Nations – Peacekeeping

    NEW YORK, 27 May — The United Nations Headquarters will observe the International Day of United Nations Peacekeepers on Thursday, 29 May.

    In 1948, the historic decision was made to deploy military observers to the Middle East to supervise the implementation of Israel-Arab Armistice Agreements, in what became the United Nations Truce Supervision Organization.

    Since that time, more than 2 million peacekeepers have served in 71 operations around the world.  Today, some 68,000 women and men serve as military, police and civilian personnel in 11 conflict zones across Africa, Asia, Europe, and the Middle East.  119 countries currently contribute uniformed personnel.

    During ceremonies at United Nations Headquarters, Secretary-General António Guterres will lay a wreath to honour the more than 4,400 UN peacekeepers who have lost their lives since 1948.  He will also preside over a ceremony in the Trusteeship Council Chamber, at which Dag Hammarskjöld Medals will be awarded posthumously to 57 military, police, and civilian peacekeepers who lost their lives serving under the UN flag last year.

    The Secretary-General will also present awards to the 2024 Military Gender Advocate of the Year, Squadron Leader Sharon Mwinsote Syme from Ghana, and the UN Woman Police Officer of the Year award to Superintendent Zainab Gbla of Sierra Leone.  Both of them serve with the United Nations Interim Security Force in Abyei (UNISFA).

    This year’s theme for the Day is “the Future of Peacekeeping”.  The theme emphasizes that the Pact for the Future — adopted last year at the United Nations — includes a commitment to adapt peacekeeping to our changing world, as expressed by Member States’ pledges presented to fill capability gaps and help adapt UN peacekeeping to emerging challenges and new realities at the recent Peacekeeping Ministerial in Berlin.

    In his message, United Nations Secretary-General António Guterres said:  “Today, peacekeepers face increasingly complex situations in an increasingly complex world…  Now more than ever, the world needs the United Nations — and the United Nations needs peacekeeping that is fully equipped for today’s realities and tomorrow’s challenges.”

    “Today, we honour their service,” Mr. Guterres stated. “We draw inspiration from their resilience, dedication and courage.  And we remember all the brave women and men who made the ultimate sacrifice for peace.  We will never forget them — and we will carry their work forward.”

    “Our personnel are our most important capability.  The sacrifices made by our peacekeepers call for more than remembrance; they demand action,” said Jean-Pierre Lacroix, Under-Secretary-General for Peace Operations.  “Throughout its history, peacekeeping has always adapted to ever-changing contexts to achieve results.  The future of peacekeeping hinges on our collective commitment to continue to adapt and invest—so we can continue delivering hope and protection where it’s needed most,” he added.

    The International Day of UN Peacekeepers was established by the UN General Assembly in 2002, to pay tribute to all men and women serving in peacekeeping, and to honour the memory of those who have lost their lives in the cause of peace.

    For media inquiries and further information, please contact:  Department of Global Communications:  Douglas Coffman, at email:  coffmand@un.org; Department of Peace Operations:  Sophie Boudre, at email:  boudre@un.org, or Hector Calderon, at email:  hector.calderon@un.org.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Peacekeepers in Abyei Win Top United Nations Military, Police Awards

    Source: United Nations – Peacekeeping

    NEW YORK, 27 May — The United Nations has announced the 2024 recipients of the Military Gender Advocate of the Year Award and the Woman Police Officer of the Year Award.

    Squadron Leader Sharon Mwinsote Syme of Ghana will receive the Military Gender Advocate Award and Chief Superintendent Zainab Gbla of Sierra Leone will receive the Woman Police Officer of the Year Award during a ceremony marking the International Day of UN Peacekeepers on 29 May.

    The awards will be presented at United Nations Headquarters in New York by UN Secretary-General António Guterres.

    Sharon Syme of Ghana has been named the 2024 Military Gender Advocate of the Year in recognition of her exceptional commitment in promoting gender equality and empowering women and girls during her tour of duty with the United Nations Interim Security Force for Abyei (UNISFA).

    Since her deployment in 2024 as the Mission’s Military Gender Adviser, Ms. Syme’s work has directly impacted local communities, ensuring the voices and needs of women and girls are integrated into security and peacebuilding initiatives.

    As part of her efforts, she conducted an intensive health campaign for the women and men of the local communities on the dangers and health implications of gender-based violence and harmful traditional practices like child marriage.

    Ms. Syme also helped strengthen the gender awareness and capacity of UNISFA’s military components, spearheading patrols composed of men and women able to address diverse community needs, and engaging with local women’s groups to promote trust and collaboration.  Her approach emphasized inclusivity, respect and cultural awareness, setting a benchmark for gender-responsive peacekeeping operations.

    “Squadron Leader Syme exemplifies the principles of gender advocacy in peacekeeping,” said Under-Secretary-General for Peace Operations Jean-Pierre Lacroix.  “Her dedication has not only improved the effectiveness of UNISFA’s operations, but also ensured that the mission is more reflective of and responsive to the communities it serves.”

    “Applying gender perspectives into daily tasks is the responsibility of every peacekeeper,” Ms. Syme said.  “Success comes through diversifying military representation at checkpoints, operating bases and on patrols it also comes from having gender-responsive leaders, who listen and respond to the voices of their male and female peacekeepers”.

    Zainab Gbla of Sierra Leone has been named the Woman Police Officer of the Year for her innovative community engagement initiatives that helped strengthen relations between host communities and the mission while establishing new crime-reporting channels in Abyei, where there is no functional police service.

    In an area that had no schools when she arrived, she initiated an educational programme, providing materials and visual aids for teaching disadvantaged children.  She also established a mentorship programme for girls.  Projects she also initiated to support crop cultivation and livestock sale at the local markets gave the women sustainable sources of income, allowing them to provide for their families and send their children to school in nearby Abyei town.

    Currently serving as UNISFA’s Chief Police Training Officer, Ms. Gbla spent her teenage years displaced within her home country of Sierra Leone and later as a refugee in Guinea — experiences that motivated her to enter the police service and to empower women affected, like her, by conflict.

    “Having been inspired by seeing the positive impact of the police first hand, including the rebuilding and restructuring of the Sierra Leone Police following years of conflict, Chief Superintendent Gbla embodies the work of the United Nations to improve lives and shape futures,” said Under-Secretary-General Lacroix.

    “This award symbolizes the tireless work of the women in uniform who serve under the UN flag,” said Ms. Gbla upon hearing of her award.  “Each of us faces unique challenges in our respective missions, yet our collective goal remains the same:  to foster peace and protect the vulnerable.”

    About the Awardees

    Chief Superintendent Zainab Mbalu Gbla joined the Sierra Leone Police in 2002, where she has since held various roles in operations, training and leadership.  She has been serving with UNISFA since April 2023 as Officer-in-Charge of the Community-Based Disarmament Unit and UNPOL Chief Training Officer.  This is her third peacekeeping deployment, after serving with the United Nations – African Union Hybrid Operation in Darfur (UNAMID) in 2010–2013 and 2020–2021.

    Squadron Leader Sharon Mwinsote Syme graduated from the Ghana Military Academy after obtaining her first master’s degree in international health at Japan’s Tokyo University.  A year later, she joined the Ghana Armed Forces Medical Corps and is the Deputy Chief Dietician at the 37 Military Hospital in Accra, Ghana.  Her first peacekeeping deployment, she joined UNISFA in March 2024 as the Mission’s Military Gender Adviser.

    About the Awards

    The United Nations Woman Police Officer of the Year award was established in 2011 to recognize the exceptional contributions of women police officers to UN peace operations and to promote women’s empowerment, in line with UN Security Council resolution 1325 (2000) on women, peace and security.  The UN Military Gender Advocate of the Year Award is presented annually since 2016 to a military peacekeeper — male or female — who has shown outstanding commitment and leadership in promoting the principles of resolution 1325 (2000).  The resolution calls on actors to mainstream a gender perspective in all aspects of peacekeeping and peacebuilding and to ensure women’s participation in peace and political processes.  The resolution also calls for the protection from, and prevention of, conflict-related sexual violence and for an expansion of the role and contribution of women in UN operations, including of uniformed women peacekeepers.

    The awards ceremony will be held at UN Headquarters on 29 May from 3 p.m. to 4 p.m. and broadcast live on UN Web TV.

    More information, photos and digital assets on the awardees are available on a dedicated Trello Board.

    For media inquiries and further information, please contact:  Douglas Coffman, Department of Global Communications, at email:  coffmand@un.org; or Sophie Boudre, Department of Peace Operations, at email:  boudre@un.org and Hector Calderon, Department of Peace Operations, at email:  hector.calderon@un.org.

    MIL OSI United Nations News –

  • MIL-OSI: FormFactor Named #1 Global Supplier in Test Subsystems and Focused Chip Making Equipment

    Source: GlobeNewswire (MIL-OSI)

    LIVERMORE, Calif., May 27, 2025 (GLOBE NEWSWIRE) — FormFactor, Inc. (NASDAQ: FORM), a leading semiconductor test and measurement supplier, has been named the #1 global supplier in both the Test Subsystems and Focused Chip Making Equipment categories in TechInsights’ 2025 global semiconductor industry customer satisfaction survey. The company earned five-star ratings in multiple categories, including:

    • Global #1 – Test Subsystems
    • Global #1 – Focused Suppliers of Chip Making Equipment
    • Global Semiconductor Supplier Award – Top 10 Customer Service (Focused Suppliers of Chip Making Equipment)
    • Global Semiconductor Supplier Award – Assembly Test Equipment

    Each year, TechInsights surveys semiconductor manufacturers worldwide to rate suppliers based on three key criteria: supplier performance, customer service, and product performance. This marks twelve consecutive years that FormFactor has been recognized in the Test Subsystems category, which includes probe cards, test sockets, and device interface boards.

    “Customers consistently give FormFactor high rankings for quality and technology leadership,” said G. Dan Hutcheson, Vice Chair, TechInsights. “In multiple categories, FormFactor continues to stand out as a Five Star supplier.”

    “We are honored to be recognized by our customers as both the top Focused Supplier of Chip Making Equipment and the top supplier of Test Subsystems worldwide. This recognition is a testament to the dedication of our worldwide team, as we strive to continuously improve our customer collaboration and support, guided by our core FORM value of Focus on the Customer,” said FormFactor CEO Mike Slessor. “As semiconductor test and measurement complexity increases, driven by rapid advances in areas like advanced packaging and AI-driven applications such as High-Bandwidth Memory, our commitment to technology leadership, quality, and execution remains steadfast. These awards reflect our continued investment in helping customers solve their toughest test challenges through world-leading collaboration, innovation, and support.”

    About TechInsights
    TechInsights is the most trusted source of actionable, in-depth intelligence related to semiconductor innovation and surrounding markets. Our content informs decision makers and professionals whose successes depend on accurate knowledge of the semiconductor industry – past, present, or future. Our unmatched reverse engineering analysis, images, and expert commentary are accessed through the TechInsights Platform, the world’s largest research library of semiconductor and market analysis. Our customers include the most successful technology companies, who rely on our analysis to make informed business decisions faster and with greater confidence.

    About FormFactor
    FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full IC life cycle – from characterization, modeling, reliability, and design debug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at www.formfactor.com.

    Trade Contact
    Aasutosh Dave
    Chief Commercial Officer
    aasutosh.dave@formfactor.com

    Investor Contact
    Stan Finkelstein
    Investor Relations
    (925) 290-4273
    ir@formfactor.com

    The MIL Network –

  • MIL-OSI Economics: Members agree on 2025 chairpersons for subsidiary bodies of Goods Council

    Source: World Trade Organization

    Committee on Agriculture

    Mr Diego ALFIERI (Brazil)

    Committee on Anti-dumping Practices

    Mr Hirokazu WATANABE (Japan)

    Committee on Customs Valuation

    Ms Judith Yu-ying KUO (Chinese Taipei)

    Committee on Import Licensing

    Mr Tiago SERRAS RODRIGUES (Portugal)

    Committee on Market Access

    Mr Ninad DESHPANDE (India)

    Committee on Rules of Origin

    Ms Carol TSANG (Hong Kong, China)

    Committee on Safeguards

    Mrs Milagros MIRANDA ROJAS (Peru)

    Committee on Sanitary and Phytosanitary Measures

    Mrs Maria COSME (France)

    Committee on Subsidies and Countervailing Measures

    Mr Jungsoo HUR (Korea, Republic of)

    Committee on Technical Barriers to Trade

    Ms Beatriz STEVENS (United Kingdom)

    Committee on Trade Facilitation

    Mr Edem KOSSI (Togo)

    Committee on Trade-Related Investment Measures

    Ms Maryam Abdulaziz ALDOSERI
    (Kingdom of Bahrain)

    Committee of Participants on the Expansion of Trade in Information Technology Products

    Mr George Andrei RUSU (Romania)

    Working Party on State Trading Enterprises

    Mr Sokheng KONG (Cambodia)

    MIL OSI Economics –

  • MIL-OSI USA: May 26th, 2025 Heinrich Releases Statement on Memorial Day: “Their Sacrifice Will Never be Forgotten”

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich
    WASHINGTON – U.S. Senator Martin Heinrich (D-N.M.) released the following statement in commemoration of Memorial Day:
    “Today on Memorial Day, we honor all those who have sacrificed their lives in service to our country. We reflect on their boundless courage, their proud legacies, and their steadfast commitment to serving the greater good — often at great sacrifice to themselves and their families.
    “In 1942, 29 members of the Navajo Nation joined the U.S. Marine Corps to pioneer what would become one of the most impactful programs of World War II: the Navajo Code Talkers. These 29 Diné recruits helped change the tide of the war.
    “During Iwo Jima, over 800 encrypted messages were sent by six code talkers, without anything written down. Navajo Marines deciphered and coded each line in real time, on the front lines and under fire. By the end of World War II, almost 400 Diné Marines were serving around the world as Code Talkers, in addition to yet other Tribal members, including the Hopi Code Talkers in the U.S. Army.
    “From the Long Walk and forced relocations to the tragic legacy of Indian boarding schools, the United States has inflicted horrific harms on the Diné and Hopi people. But when the time came to mobilize against authoritarianism, these brave men stepped forward and helped the world prevail against hate.
    “This year, I especially want to recognize the long record of service to our nation by people who call New Mexico home. Though many of the Code Talkers are no longer with us, their sacrifice will never be forgotten. In their name, we will stand up for what is right, against hate, and in service to this country and to each other.”

    MIL OSI USA News –

  • MIL-OSI Video: Tajikistan, Palestine & other topics – Daily Press Briefing (27 May 2025) | United Nations

    Source: United Nations (Video News)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    Highlights:
    Deputy Secretary-General
    Occupied Palestinian Territory
    UNIFIL
    Sudan
    Myanmar
    Cyprus
    Ukraine
    Briefing

    DEPUTY SECRETARY-GENERAL
    The Deputy Secretary-General is travelling to Dushanbe, Republic of Tajikistan, later today to take part in the International Conference for Glaciers’ Preservation on behalf of the Secretary-General. At the conference, Ms. Mohammed will emphasize the need to accelerate climate action to achieve the 1.5 degree target, in order to reduce the negative impact of melting glaciers on people and planet. During the trip, the Deputy Secretary-General will also meet with senior government officials to strengthen the UN-Tajikistan partnership, youth and women’s groups and other constituencies to discuss priority action to support SDG acceleration.
    On 31 May, she will travel to Marrakech, Morocco, to attend the 2025 Ibrahim Governance Weekend where she will deliver a keynote address at the Opening Ceremony and meet with senior government officials and other stakeholders.
    The Deputy Secretary-General will then travel to Geneva, Switzerland, to deliver opening remarks at the Global Platform on Disaster Risk Reduction 2025. The platform is a critical mechanism, held every two years, to identify ways to further accelerate the implementation of the Sendai Framework for Disaster Risk Reduction. She will also meet with senior government officials of Switzerland and heads of delegation at the Global Platform.
    The Deputy Secretary-General will return to New York on 4 June.

    OCCUPIED PALESTINIAN TERRITORY
    Turning to the situation in Gaza. We have been watching the video coming out of Gaza around one of the distribution points set up by the Gaza Humanitarian Foundation, and frankly these video images are heartbreaking to say the least. As the Secretary-General noted last week, we and our partners have a detailed, principled, operationally sound plan – supported by Member States – to get aid to a desperate population. We continue to stress that a meaningful scale-up of humanitarian operations is essential to stave off famine and meet the needs of all civilians, wherever they are.
    Meanwhile, the Office for the Coordination of Humanitarian Affairs (OCHA) reports that continued bombardment and shelling across the Strip has had horrific impacts on civilians. Today, the Ministry of Health reported dozens of people killed and over 150 injured in the past 24 hours.
    On Sunday night, a school sheltering displaced people in Ad Daraj, in eastern Gaza city, was hit, with the attack igniting a fire and reportedly killing 36 people, including women and children. Many of the bodies were reportedly severely burned.
    Amid ongoing hostilities, thousands of people continue to be displaced. Yesterday, another Israeli displacement order was issued, covering about 155 square kilometres in Rafah, Khan Younis and central Gaza and affecting more than 60 neighbourhoods.
    This represents over 40 per cent of the Gaza Strip, which overlaps with previous displacement orders.
    In North Gaza, our partners tell us that sites for internally- displaced people in Beit Hanoun, Izbat Beit Hanoun and Beit Lahiya, are nearly empty, in the wake of Israeli displacement orders issued for these areas.
    In Khan Younis, displaced people continue to live in the open, where they are exposed to the heat and elements. Many are physically exhausted and frail after having walked long distances on damaged roads with no food to sustain them.
    Since the renewed escalation of hostilities in March, our partners estimate more than 632,000 people have been forced to flee yet again. They are left to survive on very small areas of the territory, with barely anything to survive on.
    OCHA underscores that civilians must be protected, including those fleeing and forced to leave through displacement orders and those who remain despite those orders. Civilians who flee must be allowed to return as soon as circumstances allow. OCHA reiterates that civilians must be able to receive the humanitarian assistance they need, wherever they are. All of this is required by international humanitarian law. 
    Meanwhile, our partners working in health report that there are even fewer health facilities operating this week. Since last Monday, more than two dozen health centres and mobile clinics and one hospital have suspended their services because of hostilities, attacks or displacement orders in their areas.
    On the water and sanitation front, some 200 thousand litres of fuel are needed per week across Gaza to sustain those critical facilities. However, the situation in the south of Gaza is particularly concerning, as no fuel is currently available there, and only one third of the required supply was received last week. (…)

    Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=27%20May%202025

    https://www.youtube.com/watch?v=wmWsbdBUaBs

    MIL OSI Video –

  • MIL-OSI Video: VA NEWS May 27, 2025

    Source: United States of America – Federal Government Departments (video statements)

    On this episode of VA News…A comprehensive handbook on federal benefits…How VA saved a Marine Corps Veteran’s life…And Vietnam Veteran Robert Daehler returns to the slopes after an injury that left him paralyzed.

    https://www.youtube.com/watch?v=hs8Cf5pephA

    MIL OSI Video –

  • MIL-OSI United Nations: GAR 2025 Hazard explorations

    Source: UNISDR Disaster Risk Reduction

    Multi-hazard events

    Multi-hazard events compound and even increase losses beyond the sum of their parts. Analysis of the last century of data recorded in the Emergence Events Database (EM-DAT)  maintained by the Centre for Research on the Epidemiology of Disasters at the Université Catholique de Louvain in Belgium shows that while only around 19% of disasters are classified as multi-hazard, these events account for almost 59% of the total economic losses.

    Multi-hazard events can also result in compounded costs, eroding coping capacity as affected households contend with multiple threats simultaneously. Understanding multi-hazard risk and building this analysis into cost-benefit analysis can improve the effectiveness of preparedness actions and infrastructure investments.  Multi-hazard integrated investments in reducing disaster risk can have cascading benefits on SDG achievement globally from enhancing food security, to improving air quality, and reducing greenhouse gas emissions.

    Between 2000 to 2023, five hazards triggered 90 per cent of disaster deaths: earthquakes (50%), extreme heat (18%), storms (14%), floods (8%), and droughts (2%).  Reducing the risk to these disasters can act as a powerful lever to accelerate sustainable development.

    Annual average losses

    Overall, the annual average loss for critical infrastructure sectors due to these three hazards globally is USD 257.2 billion.

    There are significant regional differences in losses however, with USD 2.3 billion of losses in Africa, USD 103.7 billion in the Americas, USD 126.9 billion in Asia, USD 56.7 billion in Europe and USD 5.9 billion in Oceania. Lower USD losses in Africa do not necessarily mean less of an impact on GDP or sustainable development.

    Taking a multi-hazard approach is important for investment as it helps give a more comprehensive picture of how to better reduce the risk of recurrent disasters. For example, in 2023, North America had by far the greatest economic exposure to disasters overall, with USD 69.57 billion in direct losses. These nevertheless represent a relatively modest share (0.23%) of subregional GDP. Micronesia, on the other hand, incurred only a fraction of these net losses – USD 4.3 billion – but with a far greater relative impact (46.1%) on its subregional GDP.

    The impact of a disaster on a country’s economy also depends on its policies, investments and development levels. Disaster-related losses can fluctuate significantly from year to year, depending on conditions. In the case of North America, for instance, while the annual cost of disasters as a proportion of GDP was 0.23% in 2023, in 2005 the proportion was almost seven times higher at 1.74% as storms like Hurricane Katrina exposed vulnerable cities like New Orleans to significant losses that year. However, because many of these losses were covered by insurance, the risk was shared across the public and private sectors.

    In contrast, in small island developing states such as Micronesia, where the cost of disasters as a share of national GDP was 0.03% in 2006 and a massive 46% in 2023, risk transfer mechanisms that can share losses across the public and private sector were much less prevalent. As a result, the national economy was much more acutely affected.

    For more information see the GAR 2025 chapter 2, 4 and 5.  

    MIL OSI United Nations News –

  • MIL-OSI United Nations: GAR 2025 Solution explorations

    Source: UNISDR Disaster Risk Reduction

    The global cost of disasters is growing but, just as the costs of disasters have been under-estimated, so have the benefits of investing now to reduce disaster risk.

    Drawing on dozens of positive examples from around the globe, the below case studies are selected from the full GAR report and show how effective disaster risk reduction (DRR) investment can accelerate both sustainable development and economic stability at a time when catastrophic risk is increasing globally.

    The boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.

    Dotted line represents approximately the Line of Control in Jammu and Kashmir agreed upon by India and Pakistan. The final status of Jammu and Kashmir has not yet been agreed upon by the parties.

    Final boundary between the Republic of Sudan and the Republic of South Sudan has not yet been determined.

    A dispute exists between the Governments of Argentina and the United Kingdom of Great Britain and Northern Ireland concerning sovereignty over the Falkland Islands (Malvinas).

    GAR 2025 report

    As climate change continues to escalate, the number of recorded disasters and their associated costs rise correspondingly.

    Hazard explorations

    Disasters seldom come alone, which is another reason their costs are underestimated.

    MIL OSI United Nations News –