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Category: Banking

  • MIL-OSI: Dividend 15 Split Corp. II Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Dividend 15 Split Corp. II (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 2,242,527 Preferred Shares and 2,234,759 Class A Shares of the Company, representing 10% of the public float of 22,425,275 Preferred Shares and 22,347,591 Class A Shares. As of May 21, 2025, there were 22,425,275 Preferred Shares and 22,433,891 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 448,505 Preferred Shares or more than 448,677 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025 no Preferred Shares or Class A Shares were purchased.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TC Energy Corporation.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    The MIL Network –

    May 30, 2025
  • MIL-OSI: North American Financial 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — North American Financial 15 Split Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 5,738,811 Preferred Shares and 5,865,279 Class A Shares of the Company, representing 10% of the public float of 57,388,118 Preferred Shares and 58,652,794 Class A Shares. As of May 21, 2025, there were 57,388,618 Preferred Shares and 58,724,984 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 1,147,772 Preferred Shares or more than 1,174,499 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2025 and terminated on May 28, 2025 no Preferred Shares or Class A Shares were purchased.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    Investor Relations: 1-877-478-2372 Local: 416-304-4443 www.financial15.com info@quadravest.com

    The MIL Network –

    May 30, 2025
  • MIL-OSI: Financial 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Financial 15 Split Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 6,054,449 Preferred Shares and 6,196,492 Class A Shares of the Company, representing 10% of the public float of 60,544,490 Preferred Shares and 61,964,925 Class A Shares. As of May 21, 2025, there were 60,567,417 Preferred Shares and 61,968,317 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 1,211,348 Preferred Shares or more than 1,239,366 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025 no Preferred Shares were purchased and 8,300 Class A Share purchases were made.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    The MIL Network –

    May 30, 2025
  • MIL-OSI: Dividend 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Dividend 15 Split Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 12,687,975 Preferred Shares and 13,219,443 Class A Shares of the Company, representing 10% of the public float of 126,879,752 Preferred Shares and 132,194,435 Class A Shares. As of May 21, 2025, there were 127,069,383 Preferred Shares and 132,275,624 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 2,541,387 Preferred Shares or more than 2,645,512 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025, no Preferred Shares or Class A Shares were purchased.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TC Energy Corporation.

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    Investor Relations: 1-877-478-2372 Local: 416-304-4443 www.dividend15.com info@quadravest.com

    The MIL Network –

    May 30, 2025
  • Israel announces new West Bank settlements despite sanctions threat

    Source: Government of India

    Source: Government of India (4)

    Israel’s government has approved 22 new Jewish settlements in the occupied-West Bank, Finance Minister Bezalel Smotrich said on Thursday, a move that could deepen divisions with some allies, who have threatened sanctions over further expansion.

    Far-right Smotrich, an advocate for Israeli sovereignty over the West Bank, wrote on X that the new settlements would be located in the northern area of the West Bank, without specifying where.

    Israeli media cited the Defense Ministry as saying that among the new Jewish settlements, existing “outposts” would be legalised and new settlements would also be built.

    Around 700,000 Israeli settlers live among 2.7 million Palestinians in the West Bank and East Jerusalem, territories Israel captured from Jordan in the 1967 war. Israel later annexed East Jerusalem, a move not recognized by most countries, but has not formally extended sovereignty over the West Bank.

    Palestinians see expansion of the settlements as a hindrance to their aspirations to establish an independent Palestinian state in the Gaza Strip and the West Bank, including occupied East Jerusalem.

    There is a growing list of European countries demanding that Israel end the war in Gaza, while Britain, France and Canada this month warned Israel it could impose targeted sanctions if Israel continued to expand settlements in the West Bank.

    Most of the international community considers the Jewish settlements illegal. The Israeli government deems settlements legal under its own laws, while some so-called “outposts” are illegal but often tolerated and sometimes later legalised.

    Settlement activity in the West Bank has accelerated sharply since the war in Gaza, now in its 20th month, adding to escalating Israeli military operations against Palestinian militants and increasing numbers of settler attacks targeting Palestinian residents.

    Nabil Abu Rudeineh, a spokesperson for Palestinian President Mahmoud Abbas, called Israel’s decision a “dangerous escalation”, accusing the government of continuing to drag the region into a “cycle of violence and instability”.

    “This extremist Israeli government is trying by all means to prevent the establishment of an independent Palestinian state,” he told Reuters, urging U.S. President Donald Trump’s administration to intervene.

    Hamas official Sami Abu Zuhri condemned the announcement and called on the United States and the European Union to take action.

    “The announcement of the building of 22 new settlements in the West Bank is part of the war led by Netanyahu against the Palestinian people,” Abu Zuhri told Reuters.

    (Reuters)

    May 29, 2025
  • MIL-OSI Economics: “The African Development Bank has one of the most democratic processes in electing the President of The Bank.”

    Source: African Development Bank Group
    This year’s Annual Meetings have the extra dynamic of the election of a new President to take over the helm of the institution after ten years under Dr. Akinwumi Adesina. Can you walk us through the key electoral processes and steps until the new President takes office?

    MIL OSI Economics –

    May 29, 2025
  • MIL-OSI Economics: Asian Development Blog: AI-Powered and Asia-Made: Leading the Way with Chip Design and Supply Chain Resilience

    Source: Asia Development Bank

    Asia’s dominance in semiconductor manufacturing is fueling a surge in AI-related exports, underpinned by growing investments in infrastructure and design. While risks from global trade tensions loom, strategic action on domestic innovation and regional cooperation offers a pathway to sustained growth.

    MIL OSI Economics –

    May 29, 2025
  • MIL-Evening Report: Grattan on Friday: Trump, tariffs and the Middle East are looming challenges for Albanese

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Australia these days receives invitations to big-league international conferences. And so Anthony Albanese will be off soon to the G7 meeting in Alberta, Canada, on June 15-17.

    For the prime minister, what’s most important about this trip is not so much the conference itself, but his expected first meeting with US President Donald Trump, either on the sidelines of the G7 or in a visit to Washington while he’s in North America.

    Nothing is locked in. But it’s impossible to think such a meeting won’t take place. The Australian PM certainly needs to have his first face-to-face talks with the US president sooner rather than later.

    During the election, there was much argument over whether Albanese or Peter Dutton would be better at dealing with the difficult and unpredictable Trump, in particular, in trying to extract some concessions on his tariffs

    Australia has been hit by Trump’s 25% tariff on aluminium and steel, as well as by his general 10% tariff.

    The Trump tariff regime has been a chaotic story of decisions, pauses and changes of mind. In the latest drama, the United States Court of International Trade on Wednesday blocked Trump’s “Liberation Day” tariffs (as far as Australia goes, this relates to the 10% general tariff but not that on aluminium and steel). The court found the president had exceeded his powers. The administration immediately appealed the decision.

    We can’t know how this imbroglio will play out. But assuming Australia will still be confronting some tariffs, Albanese’s pitch for special treatment will be made around what we can do for the Americans with our large deposits of critical minerals and rare earths. These are vital for the production of a huge range of items, including for defence purposes.

    Australia’s ambassador to the US, Kevin Rudd, speaking at a conference in Detroit this week, pointed out that the two countries already had a draft accord on these minerals.

    “What we need to work out […] is how do we collaborate both on the mining, the extraction, the transportation and the processing and the stockpiling to make our economies resilient, including what you’ll need for future battery manufacture,” Rudd said.

    When Albanese does get together with Trump, he will have the advantage of meeting him as the big winner of the recent election. Trump said of him post-election, “He’s been very, very nice to me, very respectful to me”.

    But that’s no iron-clad guarantee of success. With the US president, there are always multiple “known unknowns”.

    For Albanese, success on the tariff front would be important, but not, of course, as important politically as it would have been pre-election.

    A range of other issues will also be on the agenda when the two meet: including progress on AUKUS.

    The president would no doubt be pleased the government is in the process of booting the Chinese lessee out of the Port of Darwin (with American investment firm Cerberus expressing an interest in taking over, although the government’s preference is for the port to be in Australian hands).

    Trump might not think, however, that the government’s commitment to defence spending, due to reach 2.3% of gross domestic product by 2033-34, is enough. The Americans would prefer a level of 3% of GDP.

    No doubt the Middle East would also be canvassed in such talks. While Middle East policy is not a frontline issue in the Australian-American relationship, the Albanese government struggles at home to strike the right stance.

    Since the October 2023 Hamas attack on Israel, Australia has seen a deterioration in local social cohesion. Antisemitism spiked to a degree not anticipated; pro-Palestinian demonstrations became a regular and controversial feature. The government found itself under political fire from the Jewish community and pro-Palestinian critics alike.

    With the Israeli government disregarding international criticism, and the humanitarian crisis in Gaza growing more dire, Albanese this week toughened his rhetoric.

    On Monday he said: “It is outrageous that there be a blockade of food and supplies to people who are in need in Gaza. We have made that very clear by signing up to international statements”. He described Israel’s actions as “completely unacceptable”.

    Within Labor, the pressure to go further has been mounting. It is on two fronts. Some want sanctions against Israel (beyond the existing sanctions in relation to settlers on the West Bank). There is also the issue of whether Australia should recognise a Palestinian state ahead of a two-state solution.

    Ed Husic, a Muslim, was relatively outspoken even while he was in cabinet. Since being dumped from the ministry, he is much freer to put forth his view.

    This week, he was calling for imposing sanctions if other nations were to do so. “I think we should be actively considering […] drawing up a list of targeted sanctions where we can join with others”.

    Significantly, former Labor Foreign Minister Gareth Evans was another advocate, saying sanctions “would send a powerful message”.




    Read more:
    Gareth Evans: the case for recognising Palestine


    But when the question of sanctions was put to Albanese, he was dismissive, raising the issue of substantive outcomes.

    At the Labor party’s grassroots level, there is strong pressure for a more pro-Palestinian approach.

    It is not unreasonable to think that would strike a sympathetic chord with both Albanese and Foreign Minister Penny Wong, but they are very cognisant of the politics – both international and local.

    Wong a year ago raised the possibility of recognising Palestine statehood as a step along a peace process, ahead of a two-state solution.

    Australia’s ambassador to the United Nations, James Larson, last week delivered an Australian statement to a preparatory meeting for a June conference in New York on “the question of Palestine and the implementation of the two-state solution”.

    Echoing Wong’s earlier position, he said: “A two-state solution – a Palestinian state alongside the state of Israel – is the only hope of breaking the endless cycle of violence, and the only hope of a just and enduring peace, for Israelis and Palestinians alike.”

    “Like other partners, Australia no longer sees recognition of a Palestinian state as only occurring at the end of negotiations, but rather as a way of building momentum towards a two-state solution.”

    Evans, in an article for Pearls and Irritations this week, says the “strongest and most constructive contribution” Australia could make on the issue would be to announce at the conference “that we are immediately recognising Palestinian statehood: not just as the final outcome of a political settlement but as a way of kickstarting it”.

    The government is tight-lipped about what stand it will take for the June 17-20 conference, saying it doesn’t have details yet and is unable to say who will attend for Australia. It says it is not being framed as a conference where countries are expected to make pledges.

    Nevertheless, many within Labor will be watching closely whether the coming weeks will see any change in Australia’s Middle East policy. But that, in turn, would depend on whether others make any moves, because Australia wants to have company from like-minded countries.

    Michelle Grattan 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. Grattan on Friday: Trump, tariffs and the Middle East are looming challenges for Albanese – https://theconversation.com/grattan-on-friday-trump-tariffs-and-the-middle-east-are-looming-challenges-for-albanese-257333

    MIL OSI Analysis – EveningReport.nz –

    May 29, 2025
  • Indian stock market ends in green over positive global cues

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market closed in green on Thursday amid positive global cues. Sensex closed 320.70 points or 0.39 per cent up at 81,633.02 while Nifty ended up 81.15 points or 0.33 per cent at 24,833.60.

    Buying was seen in midcap and smallcap along with largecap. Nifty Midcap 100 index was up 315.85 points or 0.55 per cent at 57,457.25 and Nifty Smallcap 100 index was up 105.40 points or 0.59 per cent at 17,889.

    On a sectoral basis, metal, IT, financial services, realty, media and energy indices were in the green, while, PSU Bank, FMCG and PSE sectors were in the red.

    “Global sentiment improved after a US court struck down Donald Trump’s reciprocal tax policy. However, the domestic market remained mostly rangebound during the day due to rising oil prices and higher US 10-year bond yields,” said Vinod Nair, Head of Research, Geojit Investments Limited.

    Some recovery was seen toward the end of the session, driven by F&O expiry led covering.

    “Export-focused sectors like IT and Pharma performed well, supported by hopes of easing trade tensions. Lack of positive domestic triggers and a drop in industrial output to an eight-month low could lead to short-term market consolidation,” he mentioned.

    Nifty witnessed a volatile session on the day of monthly expiry. The momentum continues to remain weak, with the RSI still pointing downward.

    “The next crucial support is at 24,670. If the index falls below this level, a sharp correction may occur, potentially dragging the index down to 24,400/ 24,300. On the other hand, if Nifty holds above 24,670, it could witness a smart recovery towards 25,000 or 25,150 in the short term,” said Rupak De from LKP Securities.

    Gold prices traded weak in the first half of the session after the FOMC meeting minutes indicated that the U.S. Federal Reserve is unlikely to ease interest rates in the near term, maintaining a data-dependent stance. In the domestic market, MCX gold holds support near Rs 94,000, with resistance around Rs 96,500, said experts.

    –IANS

    May 29, 2025
  • MIL-OSI USA: Disaster Recovery Center Opens in Russell County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Russell County

    Disaster Recovery Center Opens in Russell County

    FRANKFORT, Ky

    – A Disaster Recovery Center has opened in Russell County to offer in-person support to Kentucky survivors who experienced loss as the result of the severe storms, straight-line winds and tornadoes from May 16-17, 2025

    The new Disaster Recovery Center in Russell County is located at: Russell County Courthouse, 410 Monument Square, Jamestown, KY 42629 Working hours are 9 a

    m

    to 7 p

    m

    Central Time, Monday through Saturday and 1 – 7 p

    m

    Central Time, Sunday

    Disaster Recovery Centers are one-stop shops where you can get information and advice on available assistance from state, federal and community organizations

     You can get help to apply for FEMA assistance, learn the status of your FEMA application, understand the letters you get from FEMA and get referrals to agencies that may offer other assistance

    The U

    S

    Small Business Administration representatives and resources from the Commonwealth are also available at the Disaster Recovery Centers to assist you

    FEMA is encouraging Kentuckians affected by the May tornadoes to apply for federal disaster assistance as soon as possible

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For more information about Kentucky tornado recovery, visit www

    fema

    gov/disaster/4875

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Wed, 05/28/2025 – 20:05

    MIL OSI USA News –

    May 29, 2025
  • MIL-OSI USA: Disaster Recovery Center Opens in Trigg County

    Source: US Federal Emergency Management Agency 2

    strong>FRANKFORT, Ky. – A Disaster Recovery Center has opened in Trigg County to offer in-person support to Kentucky survivors who experienced loss as the result of the severe storms, straight-line winds and tornadoes from May 16-17, 2025. The new Disaster Recovery Center in Trigg County is located at:
     
    Trigg County Emergency Operations Center, 39 Jefferson St, Cadiz, KY 42211
    Working hours are 9 a.m. to 7 p.m. Central Time, Monday through Saturday and 1 – 7 p.m. Central Time, Sunday.
    Disaster Recovery Centers are one-stop shops where you can get information and advice on available assistance from state, federal and community organizations. You can get help to apply for FEMA assistance, learn the status of your FEMA application, understand the letters you get from FEMA and get referrals to agencies that may offer other assistance. The U.S. Small Business Administration representatives and resources from the Commonwealth are also available at the Disaster Recovery Centers to assist you.
    FEMA is encouraging Kentuckians affected by the May tornadoes to apply for federal disaster assistance as soon as possible. The deadline to apply is July 23.
    You can visit any Disaster Recovery Center to get in-person assistance. No appointment is needed. To find all other center locations, including those in other states, go to fema.gov/drc or text “DRC” and a Zip Code to 43362. 
    You don’t have to visit a center to apply for FEMA assistance. There are other ways to apply: online at DisasterAssistance.gov, use the FEMA App for mobile devices or call 800-621-3362. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service.
    When you apply, you will need to provide:

    A current phone number where you can be contacted.
    Your address at the time of the disaster and the address where you are now staying.
    Your Social Security Number.
    A general list of damage and losses.
    Banking information if you choose direct deposit.
    If insured, the policy number or the agent and/or the company name.

    For more information about Kentucky tornado recovery, visit www.fema.gov/disaster/4875. Follow the FEMA Region 4 X account at x.com/femaregion4. 

    MIL OSI USA News –

    May 29, 2025
  • MIL-OSI Europe: Silicon Cyprus

    Source: European Investment Bank

    Ioannis Kasinopoulos and his friend Yiannis Zambas set up Electryone AI in 2023 with a “strong belief and no outside financing.” The belief was in their software, which uses artificial intelligence to make batteries that store renewable energy more efficient and profitable. They also believed in the importance of the transition to a clean, green economy. Without external funding, however, belief could only get them so far.

    The two young Cypriots, who had previously been at Meta, McKinsey and Palantir, worked hard to find pre-seed financing and some angel investors from their bases in London and Spain, including Genesis Ventures, a Greek venture capital firm backed by the European Investment Fund. Then they got an unexpected surprise—venture capital financing from their home island, where support for startups has been limited. 33East Venture Capital, a Nicosia-based venture capital fund supported by the Cyprus Equity Fund, started making investments from its €26 million fund this year, and it backed Electryone AI with €400 000 in January.

    “We were very happy to have people from Cyprus being part of this,” says Kasinopoulos, who was born in Nicosia. “We had tried to raise money in Cyprus, but we didn’t really get anywhere. There are companies in the energy space, but they didn’t understand software or venture capital. They wouldn’t take that much risk.”

    For technology and innovation startups in Cyprus, 33East’s new fund could be a gamechanger, reversing a brain drain that has seen talented Cypriots leave, largely for London. Though the Global Entrepreneurship Monitor ranks Cyprus seventh in the European Union for early stage entrepreneurial activity, venture capital investment in Cyprus is scarce, according to a report by the University of Cyprus’s Centre for Entrepreneurship.

    “There has been no formal path for startups to follow, so either companies died or left Cyprus to seek financing,” says Yiannis Eftychiou, one of two 33East cofounders. “There has been a drain of quality talent from Cyprus. But we see a lot of opportunity in Cyprus.”

    MIL OSI Europe News –

    May 29, 2025
  • MIL-OSI Europe: EU Fact Sheets – The European Investment Bank – 28-05-2025

    Source: European Parliament

    The European Investment Bank (EIB) furthers the objectives of the European Union by providing long-term project funding, guarantees and advice. It supports projects both within and outside the EU. Its shareholders are the Member States of the EU. The EIB is the majority shareholder in the European Investment Fund (EIF), and the two organisations together make up the EIB Group.

    MIL OSI Europe News –

    May 29, 2025
  • MIL-OSI Africa: Is Sudan’s war the reason for South Sudan’s economic crisis? What’s really going on with oil revenue

    Source: The Conversation – Africa – By Jan Pospisil, Associate Professor at the Centre for Peace and Security, Coventry University

    The civil war in Sudan between the Sudanese army and paramilitary Rapid Support Forces, which began in April 2023, has had an impact on its neighbours. One of the most keenly affected countries is South Sudan, which became an independent state in 2011 and went on to endure its own civil war. This ended in 2018 with a tenuous peace agreement.

    The impact of the Sudanese war on South Sudan, however, isn’t a straightforward spillover catastrophe. The picture is more nuanced, and this is most clearly seen in South Sudan’s oil economy. Jan Pospisil, who has studied the dynamics in Sudan and South Sudan, explains.

    What is the current status of oil exports from South Sudan through Sudan?

    Landlocked South Sudan is reliant on its neighbour to the north to transport oil from its fields to the international market. Crude oil is transported via pipeline to Port Sudan on the Red Sea.

    However, recent drone strikes on Port Sudan carried out by the Rapid Support Forces targeted power plants that supply electricity to pumping stations along Sudan’s critical oil pipelines.

    Soon after, the Sudanese army formally notified South Sudan that it would have to halt exports. Following hectic negotiations, the South Sudanese government released a statement that the stoppage could be prevented.

    This back and forth has reopened the pressing question of the impact of Sudan’s war on South Sudan’s economy and, in particular, the role of crude oil.

    Assessments of the impact of Sudan’s war on South Sudan suggest the worst: oil revenues would account for 80% of South Sudan’s budget and 90% of its fiscal revenue.

    This informs the International Monetary Fund’s warnings of looming economic collapse in case of a breakdown of oil exports. The predominant view is that a shutdown of the oil pipeline through Sudan would lead to a collapse of dollar inflows to South Sudan, triggering a severe economic crisis.

    However, South Sudan’s 2024-25 budget suggests a high reliance on non-oil revenue.

    In fact, government oil revenues for 2024-25 are based on a volume of only around 16,000 barrels per day. This is the share of total production of about 130,000 barrels per day controlled by South Sudan. Attempts to increase production to pre-war levels of up to 400,000 barrels failed. The substantial drop in production is explained by a decline in the quality of South Sudan’s oil wells, especially in Paloch in the north-east’s Upper Nile State, and Unity State in the north-central region.

    South Sudan additionally lacks the operational capacity to extract the oil it has in the ground.

    The 2024-25 budget projects a hefty fiscal deficit. The revenues projected will cover only about half of total planned state spending. Oil and non-oil revenues – which mainly include tax income from international NGOs and businesses – each account for about half of the revenue that’s expected to come in.

    Oil income has to account for debt (capital and interest) repayments on loans, as well as pipeline transport fees paid to Sudan. This means that even the optimistically assessed net contributions of oil revenue would only pay for 16% of planned government spending. South Sudan remains with a hefty deficit.

    What are the challenges South Sudan is facing in growing oil revenues?

    First, Petronas, a Malaysian multinational oil and gas company, withdrew from South Sudan in August 2024 after three decades.

    It left behind substantial challenges, including an arbitration process worth more US$1 billion. This followed the government preventing Petronas from selling its shares to the British-Nigerian group Savannah Energy.

    As a short-term solution, South Sudan de facto nationalised Petronas’ shares. It did this by transferring the shares to the state’s oil and gas company, Nile Petroleum Corporation (NilePet). This was perhaps in the hope of increasing revenue in the short term.

    However, NilePet hasn’t been able to replace Petronas’ production logistics. This has resulted in huge challenges in restoring production to levels before the 2024 pipeline disruptions.

    A second factor is the sale of oil forward. The then finance minister said in 2022 that most of the oil production had been sold in advance until 2027. He later retracted the statement, saying instead that some oil advances were merely “spread up to 2027”. While this walk-back attempted to soften the political fallout, it reinforced wider uncertainty about how much control NilePet actually retains over the revenues formally under its authority.

    Given the limited relevance of oil revenues for the official South Sudanese budget, why the major concern about disruptions?

    There are three reasons.

    First, NilePet plays a structural role in South Sudan’s informal and often dubious hard currency circulation, which international observers would call large-scale corruption. NilePet’s accounts rarely appear in any official financial accounts and are often channelled off-budget. NilePet functions as a black box within the public finance system where real money flows can only rarely be traced. Recent intentions by the president to structurally reform the company might implicitly confirm this.

    Second, there are indirect oil revenues that are important to the country’s security apparatus. This includes protection rents which come from protecting South Sudanese oil fields. This revenue never hits the budget. It pays the National Security Service either directly as salaries, or is reinvested in the considerable conglomerate of companies owned by the security service to multiply profits. Losing this revenue could destabilise the country because the funds are used to pay the salaries of the best-trained and best-equipped security service in the country.

    Third, South Sudan’s ability to attract new loans depends on the repayment of existing ones. These repayments largely depend on oil production. As the 2024-24 budget shows, South Sudan desperately needs new loans to keep even core state functions operational. Yet, funding from multilateral agencies has dwindled to small-scale loans from the African Development Bank. The International Monetary Fund has currently ended all its funding programmes.

    This is not a result of the war in Sudan. It is due to persistent concerns over insufficient financial governance in South Sudan and the state’s performance. Negotiations with Qatar and the United Arab Emirates for new loans appear to have stalled, not least because of a default in repayments to Qatar.

    These factors show that the flow of oil to Port Sudan is significant to the availability of hard currency in South Sudan’s economy. But this is in more indirect ways than the outdated claim of an 80% budgetary dependency would suggest.

    The war in Sudan has a significant yet multifaceted impact on South Sudan’s economic health. But Juba’s biggest challenges are internal.

    South Sudan’s economy over the last six years has been mainly dependent on international loans coming in – a flow which has now dried up, resulting in a severe economic crisis unprecedented in the young country’s history.

    – Is Sudan’s war the reason for South Sudan’s economic crisis? What’s really going on with oil revenue
    – https://theconversation.com/is-sudans-war-the-reason-for-south-sudans-economic-crisis-whats-really-going-on-with-oil-revenue-257375

    MIL OSI Africa –

    May 29, 2025
  • MIL-OSI Africa: Goldfields Joins Mining in Motion as Bronze Sponsor

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

    ACCRA, Ghana, May 29, 2025/APO Group/ —

    South African-based global mining firm Goldfields has confirmed its participation at the upcoming Mining in Motion Summit – Ghana’s premier gathering for mining stakeholders, scheduled for June 2 – 4, 2025 in Accra – as a bronze sponsor.

    As one of the world’s largest gold producers and a key player in Ghana’s mining landscape, Gold Fields’ involvement signals its deep commitment to the country’s mining sector. Under the theme Sustainable Mining & Local Growth – Leveraging Resources for Global Growth, the summit brings together leading mining firms like Gold Fields, government officials and international stakeholders to shape the future of gold mining in Ghana.

    As a bronze sponsor, Gold Fields will engage in high-level panel discussions, exclusive networking sessions, and project showcases – demonstrating its long-term vision and alignment with Ghana’s goal of using the mining sector as a driver of economic growth.

    In April 2025, Gold Fields received a 12-month renewal of its mining license for the Damang Mine, allowing the company to further invest in infill drilling aimed at extending the mine’s operational life and production capacity.

    Gold Fields also operates the Tarkwa Mine – Africa’s largest open-pit gold mine and a pillar of Ghana’s gold sector – which produces over 551,000 ounces of gold annually. As the company targets a global production range of 2 to 3 million ounces per annum over the next decade, Ghana remains a central hub in achieving that ambition.

    Mining in Motion 2025 provides an invaluable platform for Gold Fields to deepen its engagement with Ghanaian government officials, forge new strategic partnerships, and strengthen existing relationships within the mining ecosystem. The firm’s participation highlights its ongoing role in supporting Ghana’s sustainable development, economic resilience, and leadership in global gold production.

    Organized by the Ashanti Green Initiative – led by Oheneba Kwaku Duah, Prince of Ghana’s Ashanti Kingdom – in collaboration with Ghana’s Ministry of Lands and Natural Resources, World Bank, and the World Gold Council, with the support of Ghana’s Ministry of Lands and Natural Resources, the summit offers unparalleled opportunities to connect with industry leaders.

    MIL OSI Africa –

    May 29, 2025
  • RBI to continue liquidity operations in line with policy stance

    Source: Government of India

    Source: Government of India (4)

    The Reserve Bank of India (RBI) on Thursday said it will continue to undertake liquidity management operations in line with its monetary policy stance, to ensure adequate liquidity in the banking system that supports the productive needs of the economy.

    In its annual report for 2024-25, the central bank emphasised the importance of maintaining financial stability while supporting growth, particularly in the backdrop of easing inflation and moderate economic expansion.

    With inflation easing below the target in February and March 2025, largely due to a sharp fall in food prices, the RBI said there is increased confidence in achieving a durable alignment with its medium-term inflation target of 4 per cent over a 12-month horizon.

    Reflecting this, the Monetary Policy Committee (MPC) in April voted unanimously to cut the repo rate by 25 basis points to 6.0 per cent, and also shifted its policy stance from neutral to accommodative.

    “Inflation converged towards the target during 2024-25, supported by easing input costs, proactive supply-side measures by the government, and the continued transmission of earlier monetary policy actions,” the RBI noted.

    Headline inflation averaged 4.6 per cent in 2024-25, down from 5.4 per cent in the previous year. This was driven by a broad-based moderation in core inflation to 3.5 per cent and fuel deflation at 2.5 per cent, the report said.

    Liquidity conditions remained in surplus throughout the year. The RBI reported that the average daily net absorption under the Liquidity Adjustment Facility (LAF) rose to Rs 1,605 crore in 2024-25, compared to Rs 485 crore in the previous year.

    To manage both short-term and structural liquidity, the central bank undertook a series of market operations. These included open market purchases, USD/INR buy-sell swaps, and longer-tenor variable rate repos (VRR). Additionally, the Cash Reserve Ratio (CRR) was reduced by 50 basis points, in two tranches of 25 bps each, to inject durable liquidity into the system.

    The RBI said it would continue to use a mix of instruments to manage both frictional and durable liquidity, while ensuring orderly movement of money market interest rates. It added that the current inflation outlook, combined with moderate growth, provides space for the monetary policy to remain supportive of growth, while staying alert to global uncertainties.

    IANS

    May 29, 2025
  • MIL-OSI Global: Is Sudan’s war the reason for South Sudan’s economic crisis? What’s really going on with oil revenue

    Source: The Conversation – Africa – By Jan Pospisil, Associate Professor at the Centre for Peace and Security, Coventry University

    The civil war in Sudan between the Sudanese army and paramilitary Rapid Support Forces, which began in April 2023, has had an impact on its neighbours. One of the most keenly affected countries is South Sudan, which became an independent state in 2011 and went on to endure its own civil war. This ended in 2018 with a tenuous peace agreement.

    The impact of the Sudanese war on South Sudan, however, isn’t a straightforward spillover catastrophe. The picture is more nuanced, and this is most clearly seen in South Sudan’s oil economy. Jan Pospisil, who has studied the dynamics in Sudan and South Sudan, explains.

    What is the current status of oil exports from South Sudan through Sudan?

    Landlocked South Sudan is reliant on its neighbour to the north to transport oil from its fields to the international market. Crude oil is transported via pipeline to Port Sudan on the Red Sea.

    However, recent drone strikes on Port Sudan carried out by the Rapid Support Forces targeted power plants that supply electricity to pumping stations along Sudan’s critical oil pipelines.

    Soon after, the Sudanese army formally notified South Sudan that it would have to halt exports. Following hectic negotiations, the South Sudanese government released a statement that the stoppage could be prevented.

    This back and forth has reopened the pressing question of the impact of Sudan’s war on South Sudan’s economy and, in particular, the role of crude oil.

    Assessments of the impact of Sudan’s war on South Sudan suggest the worst: oil revenues would account for 80% of South Sudan’s budget and 90% of its fiscal revenue.

    This informs the International Monetary Fund’s warnings of looming economic collapse in case of a breakdown of oil exports. The predominant view is that a shutdown of the oil pipeline through Sudan would lead to a collapse of dollar inflows to South Sudan, triggering a severe economic crisis.

    However, South Sudan’s 2024-25 budget suggests a high reliance on non-oil revenue.

    In fact, government oil revenues for 2024-25 are based on a volume of only around 16,000 barrels per day. This is the share of total production of about 130,000 barrels per day controlled by South Sudan. Attempts to increase production to pre-war levels of up to 400,000 barrels failed. The substantial drop in production is explained by a decline in the quality of South Sudan’s oil wells, especially in Paloch in the north-east’s Upper Nile State, and Unity State in the north-central region.

    South Sudan additionally lacks the operational capacity to extract the oil it has in the ground.

    The 2024-25 budget projects a hefty fiscal deficit. The revenues projected will cover only about half of total planned state spending. Oil and non-oil revenues – which mainly include tax income from international NGOs and businesses – each account for about half of the revenue that’s expected to come in.

    Oil income has to account for debt (capital and interest) repayments on loans, as well as pipeline transport fees paid to Sudan. This means that even the optimistically assessed net contributions of oil revenue would only pay for 16% of planned government spending. South Sudan remains with a hefty deficit.

    What are the challenges South Sudan is facing in growing oil revenues?

    First, Petronas, a Malaysian multinational oil and gas company, withdrew from South Sudan in August 2024 after three decades.

    It left behind substantial challenges, including an arbitration process worth more US$1 billion. This followed the government preventing Petronas from selling its shares to the British-Nigerian group Savannah Energy.

    As a short-term solution, South Sudan de facto nationalised Petronas’ shares. It did this by transferring the shares to the state’s oil and gas company, Nile Petroleum Corporation (NilePet). This was perhaps in the hope of increasing revenue in the short term.

    However, NilePet hasn’t been able to replace Petronas’ production logistics. This has resulted in huge challenges in restoring production to levels before the 2024 pipeline disruptions.

    A second factor is the sale of oil forward. The then finance minister said in 2022 that most of the oil production had been sold in advance until 2027. He later retracted the statement, saying instead that some oil advances were merely “spread up to 2027”. While this walk-back attempted to soften the political fallout, it reinforced wider uncertainty about how much control NilePet actually retains over the revenues formally under its authority.

    Given the limited relevance of oil revenues for the official South Sudanese budget, why the major concern about disruptions?

    There are three reasons.

    First, NilePet plays a structural role in South Sudan’s informal and often dubious hard currency circulation, which international observers would call large-scale corruption. NilePet’s accounts rarely appear in any official financial accounts and are often channelled off-budget. NilePet functions as a black box within the public finance system where real money flows can only rarely be traced. Recent intentions by the president to structurally reform the company might implicitly confirm this.

    Second, there are indirect oil revenues that are important to the country’s security apparatus. This includes protection rents which come from protecting South Sudanese oil fields. This revenue never hits the budget. It pays the National Security Service either directly as salaries, or is reinvested in the considerable conglomerate of companies owned by the security service to multiply profits. Losing this revenue could destabilise the country because the funds are used to pay the salaries of the best-trained and best-equipped security service in the country.

    Third, South Sudan’s ability to attract new loans depends on the repayment of existing ones. These repayments largely depend on oil production. As the 2024-24 budget shows, South Sudan desperately needs new loans to keep even core state functions operational. Yet, funding from multilateral agencies has dwindled to small-scale loans from the African Development Bank. The International Monetary Fund has currently ended all its funding programmes.

    This is not a result of the war in Sudan. It is due to persistent concerns over insufficient financial governance in South Sudan and the state’s performance. Negotiations with Qatar and the United Arab Emirates for new loans appear to have stalled, not least because of a default in repayments to Qatar.

    These factors show that the flow of oil to Port Sudan is significant to the availability of hard currency in South Sudan’s economy. But this is in more indirect ways than the outdated claim of an 80% budgetary dependency would suggest.

    The war in Sudan has a significant yet multifaceted impact on South Sudan’s economic health. But Juba’s biggest challenges are internal.

    South Sudan’s economy over the last six years has been mainly dependent on international loans coming in – a flow which has now dried up, resulting in a severe economic crisis unprecedented in the young country’s history.

    Jan Pospisil receives funding from the Peace and Conflict Resolution Evidence Platform (PeaceRep), funded by UK International Development from the UK government. However, the views expressed are those of the authors and do not necessarily reflect the UK government’s official policies. Any use of this work should acknowledge the authors and the Peace and Conflict Resolution Evidence Platform.

    – ref. Is Sudan’s war the reason for South Sudan’s economic crisis? What’s really going on with oil revenue – https://theconversation.com/is-sudans-war-the-reason-for-south-sudans-economic-crisis-whats-really-going-on-with-oil-revenue-257375

    MIL OSI – Global Reports –

    May 29, 2025
  • MIL-OSI Video: International Day of Peacekeepers, Middle East & other topics- Daily Press Briefing | United Nations

    Source: United Nations (Video News)

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

    Highlights:
    International Day Of UN Peacekeepers
    Middle East
    Occupied Palestinian Territory
    Unrwa
    Yemen
    Sudan
    Haiti
    Ukraine
    Global Climate Predictions
    Global Employment Growth

    INTERNATIONAL DAY OF UN PEACEKEEPERS
    Jean-Pierre Lacroix, the Under-Secretary-General for Peace Operations, who be the guest on Thursday to brief reporters on the International Day of Peacekeepers.
    As part of that at 2:45pm tomorrow, the Secretary-General will lay a wreath to honour the more than 4,400 United Nations peacekeepers who have given their lives in the line of duty since 1948. He will also preside over a ceremony in the Trusteeship Council, during which the Dag Hammarskjöld Medals will be awarded posthumously to 57 military, police, and civilian peacekeepers, who lost their lives serving under the flag of the United Nations last year.
    At 3 p.m., the Secretary-General will present awards to the 2024 Military Gender Advocate of the Year. That is Squadron Leader Sharon Mwinsote Syme of Ghana and he will also present an award to the UN Woman Police Officer of the Year, and that is Superintendent Zainab Gbla of Sierra Leone.
    Both serve with the peacekeeping mission in Abyei.

    MIDDLE EAST
    Sigrid Kaag, the acting UN Special Coordinator for the Middle East Peace Process, briefed the Security Council this morning, telling Council members that the two-State solution is on life support and reviving it requires decisive action.
    She said the upcoming high-level international conference in June, co-chaired by France and the Kingdom of Saudi Arabia, must not be another rhetorical exercise and instead must launch a concrete path towards ending the occupation and realizing the two-State solution based on international law, UN resolutions and previous agreements.
    Ms. Kaag warned that the entire population of Gaza is facing the risk of famine. As the Secretary-General has said, families are being starved and denied the very basics.
    She added that while Gaza rightly captures the world’s attention, the West Bank is on a dangerous trajectory. Developments are best described as accelerating de facto annexation through settlement expansion, through land seizures, and through settler violence. If not reversed, Ms. Kaag said, these will make the two-State solution physically impossible.
    Ms. Kaag will also be speaking to you after the Council session has ended. We are advised that there will likely not be closed consultations afterwards and we will let you know when she is there.

    Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=28%20May%202025

    https://www.youtube.com/watch?v=VpI-lzCyvrQ

    MIL OSI Video –

    May 29, 2025
  • India’s real GDP growth projected at 6.5% in FY 2025-26: RBI

    Source: Government of India

    Source: Government of India (4)

    The Reserve Bank of India (RBI) has projected India’s real GDP growth at 6.5 per cent for the financial year 2025-26, with the outlook described as “evenly balanced” amid global uncertainties.

    In its annual report for 2024-25, released on Thursday, the central bank said India is poised to remain the fastest-growing major economy, riding on strong macroeconomic fundamentals, a resilient financial sector, and a continued policy push towards sustainable and inclusive growth.

    This outlook comes despite global headwinds, including financial market volatility, geopolitical tensions, trade fragmentation, supply chain disruptions, and climate-induced uncertainties — all of which pose downside risks to growth and upside risks to inflation.

    “Amid multiple global headwinds, Indian financial markets exhibited resilience and orderly movements. The central government maintained its fiscal consolidation efforts, supported by buoyant tax revenues and prudent expenditure management. On the external front, the merchandise trade deficit was offset by robust services exports and steady remittance inflows, keeping the current account deficit at a sustainable level,” the RBI noted.

    “The outlook for the Indian economy remains promising,” the RBI said, citing factors such as a revival in consumption demand, the government’s ongoing focus on capital expenditure alongside fiscal consolidation, healthier balance sheets of corporates and banks, and resilience in the services sector.

    The central bank said the agriculture sector could perform well in FY26, buoyed by the forecast of an above-normal southwest monsoon and productivity-oriented policy interventions announced in the Union Budget 2025-26.

    The manufacturing sector is also expected to gain traction, driven by rising domestic demand, higher capacity utilisation and supportive government policies, including the Production-Linked Incentive (PLI) scheme and the National Manufacturing Mission, which are aimed at reinforcing the ‘Make in India’ initiative.

    “Improving business and consumer sentiment, as reflected in RBI’s forward-looking surveys, underlines optimism in both manufacturing and services sectors,” the report said.

    IANS

    May 29, 2025
  • MIL-OSI Russia: China’s UN envoy calls for long-term ceasefire in Gaza

    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

    UNITED NATIONS, May 29 (Xinhua) — China’s permanent representative to the United Nations Fu Cong on Wednesday called for a long-term ceasefire and an end to the humanitarian disaster in the Gaza Strip.

    According to him, since May 16, Israel has continued to intensify its military operation in Gaza, which in the last two weeks alone has resulted in the complete destruction of densely populated areas and the death of more than 1,000 people.

    Questions have been repeatedly asked about when this conflict will end, whether any means are allowed in it, and whether Palestinians will have to lose their homes again, Fu Cong noted. “In the face of such questions, China firmly states that a long-term ceasefire in Gaza is urgent, and Israel must immediately stop all military operations,” the diplomat emphasized.

    “Alleviating the humanitarian catastrophe is a top priority. Israel must lift the blockade, fully restore humanitarian access, and support the UN and other international humanitarian organizations in their relief efforts,” the Permanent Representative said.

    The Gaza Strip and the West Bank are integral parts of the State of Palestine, he stressed, adding that the international community must resolutely oppose any attempts to annex these territories and forcibly displace the population of Gaza.

    The United States, as a country with significant influence on the parties involved, should act fairly and responsibly and take effective and decisive steps, Fu Cong said. The UN Security Council has the primary responsibility for maintaining international peace and security, he noted, stressing that China supports the Security Council in taking effective measures to promote a lasting ceasefire and alleviate the humanitarian disaster.

    The implementation of the “two states for two peoples” plan is the only viable way to resolve the Palestinian issue, the diplomat said. The international community should step up efforts to advance the political settlement process based on the principle of coexistence of two states, he noted.

    Fu Cong said China will continue to work with the international community to end the fighting in Gaza, alleviate the humanitarian disaster, achieve a comprehensive, just and lasting solution to the Palestinian issue, and restore peace and stability in the Middle East. –0–

    MIL OSI Russia News –

    May 29, 2025
  • MIL-OSI United Kingdom: Pension plan to double £25 billion+ megafunds, boost investment and improve returns for savers

    Source: United Kingdom – Executive Government & Departments 3

    Press release

    Pension plan to double £25 billion+ megafunds, boost investment and improve returns for savers

    Millions of workers are set to retire with bigger pension pots as the Government confirms plans to double the number of UK pension megafunds by 2030, unlocking billions to invest in Britain’s future.

    • Move secures over £50 billion investment in UK infrastructure, new homes and fast-growing businesses, as pension funds reverse decades of declining domestic investment. 
    • Average earner could get £6,000 boost to their pension pots at retirement from consolidation alone – with further increases expected through the Pension Schemes Bill. 
    • £1 billion a year of costs could be saved through consolidation and better governance, ensuring savings deliver for working people and the economy.

    Reforms set to be introduced through the Pension Schemes Bill will mean all multi-employer Defined Contribution pension schemes and Local Government Pension Scheme pools operate at megafund level, managing at least £25 billion in assets by 2030. Evidence from Australia and Canada shows that this size allows pension funds to invest in big infrastructure projects and private businesses, boosting the economy while potentially driving higher returns for savers. 

    These changes will drive more investment directly into the UK economy for new homes and promising scale-up businesses, with over £50 billion secured through the recent voluntary commitment from pension funds to invest 5 percent of assets in the UK and new local investment targets for Local Government Pension Scheme authorities. 

    This tackles the gradual decline in domestic investment from UK pension funds, where around 20 per cent of Defined Contribution assets are currently invested compared to over 50 per cent in 2012, as the Government goes further and faster to drive growth, create jobs and put more money into people’s pockets through the Plan for Change. More than 50 scale-up businesses have signed a joint letter to the Chancellor welcoming the reforms as a ‘significant milestone in ensuring British institutions back British businesses at the scale required to generate growth, employment and wealth.’ 

    New figures from the final report of the Pensions Investment Review published today also show that these reforms will drive higher returns for savers, in part by cutting waste in the system. By 2030 these schemes could be saving £1 billion a year through economies of scale and improved investment strategies. As a result, an average earner who saves over their career could see a £6,000 boost to their Defined Contribution pension pot at retirement through the creation of megafunds – with even better returns expected to be generated through changes in the upcoming Pension Schemes Bill.

    Chancellor of the Exchequer, Rachel Reeves, said: 

    We’re making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses – the Plan for Change in action.

    Deputy Prime Minister, Angela Rayner said:  

    The untapped potential of the £392 billion Local Government Pension Scheme is enormous. Through these reforms we will make sure it drives growth and opportunities in communities across the country for years to come – delivering on our Plan for Change.

    Today’s pensions announcements follow a month of major delivery milestones for the Plan for Change: new trade deals with India, the US and the EU, UK growth the highest in the G7, and the fourth interest rate cut since last summer after the government secure the economy’s foundations. 

    Multi-employer defined contribution pension schemes will be required to operate at megafund level, managing £25 billion or more in assets, and the full investment might of the £392 billion Local Government Pension Scheme (LGPS) will be unleashed by consolidating assets currently split over 86 administering authorities into just 6 pools.  

    Defined Contribution schemes will be given more freedom through legislation to move savers into better performing funds, enabling bulk transfer of assets into the megafunds while ensuring savers’ interests are always protected. Schemes worth over £10 billion that are unable to reach the minimum size requirement by the end of the decade will be allowed to continue operating, as long as they can demonstrate a clear plan to reach £25 billion by 2035. 

    The Mansion House Accord shows DC schemes are voluntarily investing more in infrastructure and businesses. To provide additional certainty that individual schemes will not lose business by investing in private markets, which offer the potential for higher returns but are expensive to invest in upfront, the Government will take a reserve power in the Pension Schemes Bill to set binding asset allocation targets. 

    The Pensions Investment Review confirms the March 2026 deadline for LGPS asset pooling, with a backstop power set to be taken in the Pension Schemes Bill to protect the interests of LGPS members and local taxpayers where necessary by directing an Administering Authority to participate in a specific investment pool.  

    Local investment targets will be agreed with LGPS authorities for the first time, securing £27.5 billion for local priorities. LGPS authorities will work with regional mayors, Welsh Authorities and councils to back the projects that matter most to the 6.7 million public servants – most of whom are low-paid women – whose savings they manage.

    Minister for Pensions, Torsten Bell, said: 

    Our economic strategy is about delivering real change, not tinkering around the edges. When it comes to pensions, size matters, so our plans will double the number of £25 billion plus megafunds. These reforms will mean bigger, better pension schemes, delivering a better retirement for millions and high investment in Britain.

    Irene Graham OBE, CEO ScaleUp Institute said:

    This represents a significant milestone in ensuring British institutions back British business – at the scale required – to generate growth, employment and wealth. UK pension funds are central to achieving this goal and addressing the UK’s longstanding growth capital gap that have held back growth ambitions. 

    The ScaleUp Institute, and the broad representatives of the scaleup economy across the UK, have written to the Chancellor today to welcome the Government’s final report on the Pensions Investment Review and the Government’s commitment to double the number of UK pension megafunds by 2030, thereby unlocking billions of patient capital to scaling businesses across the country.

    The changes come as London CIV has become the first LGPS pool to announce its intention to work with the British Business Bank on the launch of the British Growth Partnership (BGP), joining Aegon UK and NatWest Cushon, who last year announced their intention to collaborate on the BGP and invest in fast-growing businesses. These three funds manage a combined £274 billion in assets. 

    The upcoming Pension Schemes Bill will continue the Government’s fundamental reset of our pensions landscape, including by tackling the small pots problem, allowing Defined Benefit surpluses to be safely released, requiring every scheme to deliver value for money, and ensuring all savers are offered a default retirement income product. 

    Countries like Canada and Australia show how powerful pension consolidation can be – having built megafunds that invest in assets that boost their economies. Today’s reforms put the UK on the same path.


    More information

    • The final report of the Pensions Investment Review will be here. Further detail on all calculations and assumptions will be contained in the analytical annex. 

    • Just over 50% of DC assets were invested domestically in 2012 which has gradually declined to just over 20% by 2023. 

    • The £50 billion investment figure combines the Mansion House Accord commitment to invest 5% of assets in the UK (£25 billion by 2030), and the estimate for Local Government Pension Scheme local investment (5% of £550 billion by 2030). 

    • The £6,000 boost to retirement pots is from the impact of consolidation alone, which we estimate to deliver at least a 6-basis point reduction in fees as well as increase allocations to productive assets such as infrastructure projects. This means an average (median) earner saving into a DC pension, who is 22 and saves for their entire career until State Pension Age will see a £6,000 boost to their retirement pot before other measures in the Pension Schemes Bill are factored in. 

    • The £1 billion savings figure for DC schemes is based on a 12 basis point reduction in costs applied to £800 billion assets under management by 2030 – delivering a £960m saving. The Pension Investment Review consultation responses suggested consolidation of pension providers could lead to reduced charges by up to 10-20bps over the longer term and Australia had around a 12bp cost reduction through scale. 

    • The government’s response to the Options for Defined Benefit schemes consultation, also published today sets out how Government will unlock some of the £160 billion of surplus funds from well-funded Defined Benefit (DB) pension schemes, to benefit employers, members and the economy. It also sets out that the Government is continuing to consider a consolidator for DB schemes, run by the Pensions Protection Fund. The response is here: Options for Defined Benefit schemes – GOV.UK

    • The joint letter from scale up businesses can be found here

    Irene Graham OBE, CEO ScaleUp Institute, said:

    The ScaleUp Institute, and the broad representatives of the scaleup economy across the UK, have written to the Chancellor today to welcome the Government’s final report on the Pensions Investment Review and the Government’s commitment to double the number of UK pension megafunds by 2030, thereby unlocking billions of patient capital to scaling businesses across the country.

    This represents a significant milestone in ensuring British institutions back British business – at the scale required – to generate growth, employment and wealth. UK pension funds are central to achieving this goal and addressing the UK’s longstanding growth capital gap that have held back growth ambitions. 

    To deliver tangible impacts on the ground we must now see the intent in these reforms, alongside the recently augmented Mansion House Accord, turn into practical institutional investment outcomes in every part and sector of the country, including our rapidly growing innovation and industrial sectors.

    That is why it is so important that the Government’s plans today remain focussed on making sure these reforms are enacted swiftly, and that will place powers into the Pension Scheme Bill to enable compliance.

    The ScaleUp ecosystem across the country looks forward to working with the government and industry partners to ensure the ambitions of this review are fully realised and deliver lasting impact. Thereby ensuring that UK businesses with global ambition get access to the local funding needed to scale, build, and stay in the UK.

    Michael Moore, BVCA Chief Executive, said: 

    These reforms are a real win-win for UK scaleups and pension savers. 

    Countries like Canada and Australia show that when pension funds invest in private capital, you help the national economy and deliver better retirement outcomes. The government should be applauded for learning from their example.

    Megafunds will have the scale needed to develop the expertise required to invest in private capital funds, which will support the development of fast growing businesses and generate stronger returns for pensions savers.

    Jamie Jenkins, Director of Policy & Technical, Royal London said: 

    Today’s announcement sets out a long-term, strategic approach for pension provision in the UK, improving value for savers, and providing greater certainty for employers and their advisers.

    The Lord Mayor of London, Alastair King, said:

    As joint architects of the Mansion House Accord, we welcome the Government’s final Pension Investment Review report as a vital next step in delivering on our shared ambition to unlock capital for growth. This landmark agreement will facilitate the injection of over £25 billion into the UK economy, supporting crucial capital for high-growth businesses and infrastructure projects. With greater consolidation, scale, and alignment between pensions and the real economy, we now have the opportunity to secure better outcomes for savers and long-term investment in the future of the UK. To ensure the best investment outcomes, it is essential that pension funds maintain the autonomy to allocate assets optimally, thereby maximising returns for the savers whose interests they safeguard.

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    Published 29 May 2025

    MIL OSI United Kingdom –

    May 29, 2025
  • MIL-OSI United Kingdom: Derby Market Hall reopening draws stunning numbers of visitors on opening weekend

    Source: City of Derby

    A spectacular week-long celebration is now under way at Derby’s iconic Victorian Market Hall, continuing throughout the May half-term holiday.

    The programme features live music, creative workshops, performances, and family activities designed for all ages in the revitalised Market Hall.

    The transformed Market Hall officially reopened to the public on Saturday 24 May, drawing in over 34,500 visitors in its first three days.

    The grand opening saw thousands of visitors from across Derby and beyond queuing outside Osnabruck Square to be among the first to step into the historic Grade II listed building. The occasion was marked with a ribbon-cutting ceremony by Councillor Nadine Peatfield, and the new Mayor of Derby, Ajit Atwal – nearly 159 years since the Market Hall opened its doors in 1866.

    Extraordinary crowds gathered on opening day, with thousands of people queuing to visit on Saturday 24 May. The excitement continued throughout the Bank Holiday weekend with over 34,500 visitors in total. Visitors enjoyed a weekend full of live entertainment and workshops whilst browsing trader stalls and tasting a vibrant array of local and international cuisine on offer. 

    Saturday’s celebrations saw a performance from Deep Down Brass alongside a packed programme of live music, walkabout performers, and family entertainment. The festivities continued throughout the Bank Holiday weekend with local musical talent, performances, and free creative workshops for children. 

    Councillor Nadine Peatfield, Leader of Derby City Council and Cabinet Member for City Centre, Regeneration, Strategy and Policy, said:

    It was absolutely phenomenal to see that the Market Hall drew in over thirty-four thousand visitors in its first three days. The queues to get in on Saturday were beyond expectations, and I’m thrilled that it has been a successful opening weekend.

    We can be proud that Derby Market Hall is now a vibrant destination with live entertainment, pop-ups, bars, and incredible dining options. By giving people so many reasons to visit there really is something for everyone, and Derby’s Market Hall is truly thriving once again. 

    This is a big catalyst moment in Derby’s ongoing regeneration efforts. The impact on the entire city that 34,500 additional visitors has had shows that the decision to invest in our most cherished heritage building was an important one. Going forward, the Market Hall will contribute significantly to the local economy, generating over three and half million pounds for the local economy every year.

    Originally opened in 1866, the iconic Grade II listed building has undergone a significant £35.1 million restoration – part funded with £9.43 million from the Government’s Future High Streets Fund – creating a vibrant venue that brings together the best of the region’s independent shopping, eating, drinking, and entertainment under one beautiful roof.

    More information about traders and events is available on the Derby Market Hall website. You can also follow Derby Market Hall on Facebook and Instagram.  

    Derby Market Hall is open 8am – 3pm from Monday to Wednesday; 8am – 10pm Thursday to Saturday and 11am until 3pm on Sunday. 

    MIL OSI United Kingdom –

    May 29, 2025
  • MIL-OSI USA: Sanders, ANRC Announce an Additional $13 Million in Arkansas Water Projects

    Source: US State of Arkansas

    LITTLE ROCK, Ark. — On Wednesday, Governor Sarah Huckabee Sanders announced an additional $13,680,374 in financial assistance for water and wastewater projects for 12 entities. The projects serve more than 42,288 Arkansans across the state. The Arkansas Natural Resources Commission approved this funding on May 21, 2025.
     
    “My administration is working hard to improve Arkansas’ water systems, and this additional $13 million in funding will help communities around the state have access to safe drinking water,” said Governor Sanders. “Arkansans are counting on their local water utilities to deliver consistent and safe water, which is why we have gone above and beyond to overhaul and improve Arkansas’ water resources.”
     
    “Adequate water and wastewater infrastructure is critical,” said Arkansas Secretary of Agriculture Wes Ward. “Thank you to Governor Sanders for her continued leadership on an issue that impacts the economic viability of our state and the quality of life of every Arkansan.” 

    “Access to dependable water and wastewater systems is essential for the well-being of Arkansans and the growth of our communities,” said Chris Colclasure, Director of the Arkansas Department of Agriculture’s Natural Resources Division. “The projects approved today will provide substantial benefit to the citizens served.”

    In August, Governor Sanders announced the first phase of the Arkansas Water Plan has been completed by the Arkansas Department of Agriculture, along with the U.S. Army Corps of Engineers (USACE). Along with state partners, Governor Sanders has administered over $2.5 billion for water development projects in all 75 counties using state and federal funds.

    The projects receiving funding are below:

    • The Arkansas Department of Energy and Environment, received a $1,805,421 grant from the Drinking Water State Revolving Fund set asides from the Arkansas Department of Health. These funds will be used for a statewide PFAS detection program bank.
    • The Arkansas Rural Water Association, received two grants: a $125,000 grant and a $65,000 grant both from the Water Development Fund. These funds will be used for a circuit rider grant agreement and technical assistance.
    • Banks, Bradley County, received a $95,384 grant from the Water, Sewer, and Solid Waste Fund. The project serves a current customer base of 1,048. These funds will be used as part of a regionalization project with the Southeast Bradley County Water Authority.
    • Cushman, Independence County, received a $140,000 loan from the Drinking Water State Revolving Fund. The project serves a current customer base of 433. These funds will be used for Water System Improvement project including renovation of booster stations.
    • Flippin, Marion County, received a $2,500,000 loan from the Drinking Water State Revolving Fund. The project serves a current customer base of 1,836. These funds will be used for water system improvements including water main and meter replacements.
    • Gillett, Arkansas County, received a $448,000 loan from the Drinking Water State Revolving Fund. The project serves a current customer base of 333. These funds will be used for construction of an elevated water storage tanks.
    • Hampton, Calhoun County, received a $221,700 grant from the Sewer Overflow and Storm Water Reuse Municipal Grant Program. The project serves a current customer base of 1,181. These funds will be used for a wastewater collection rehabilitation project.
    • Haskell, Saline County, received a $562,638 grant from the Sewer Overflow and Storm Water Reuse Municipal Grant Program. The project serves a current customer base of 3,956. These funds will be used for a sanitary sewer evaluation survey.
    • Nail Swain Water Association, Newton County, received a $41,037 loan from the Water Development Fund. The project serves a current customer base of 357. These funds will be used for a maintenance truck.
    • Sherwood, Pulaski County, receiveda $7,059,046 loan from the General Obligation Bond Fund. The project serves a current customer base of 32,731. These funds will be used for a Five Mile Creek interceptor rehabilitation.
    • The Watershed Conservation Resource Center, Washington County, received $299,092 grant from the Sewer Overflow and Storm Water Reuse Municipal Grant Program. These funds will be used to implement phase t• The Arkansas Department of Energy and Environment is receiving a $1,805,421 grant from the Drinking Water State Revolving Fund set asides from the Arkansas Department of Health. These funds will be used for a statewide PFAS detection program bank.
    • Weiner, Poinsett County, received a $318,057 loan from the Water, Sewer, and Solid Waste Fund. The project serves a current customer base of 413. These funds will be used for wastewater sludge holding pond renovations

    ###

    MIL OSI USA News –

    May 29, 2025
  • MIL-OSI NGOs: 600 days into war, Israel’s mass displacement campaign is entirely erasing Gaza – warns Oxfam

    Source: Oxfam –

    Since breaking the ceasefire, Israel issued nearly one displacement order every two days, strangling people into isolated areas covering less than 20 percent of the Gaza Strip 

    Israel has used mass displacement orders and relentless military assault to systematically force civilians into five restricted zones—hemmed in by military corridors and the sea—that now make up less than 20 percent of Gaza. Combined with deliberate deprivation, this reveals a strategy not of targeting militants, but of dismantling and erasing Gaza itself, Oxfam warned today. 

    A new Oxfam analysis found that since breaking the ceasefire on March 18, Israel has issued over 30 forced displacement orders—nearly one every two days- covering a swathe of 68 out of 79 neighbourhoods, some multiple times. These, together with the expanding “no-go” Israeli military zones, make up over 80 percent of the Gaza Strip. The cumulative effect is the de facto confinement of the population into overcrowded, infrastructure-stripped enclaves.  

    The sheer scale and relentless frequency of these orders have made it virtually impossible for people to find refuge. The pattern suggests not an effort to neutralize a threat, but a deliberate campaign to dismantle and depopulate Gaza—a process of forced displacement which is a war crime.  

    Meanwhile, Israel has extended its military presence along five so called “security corridors”—Philadelphi, Murag, Kisufim, Netzarim, and Mefalsim—that cut horizontally across the length of the Gaza Strip. These corridors effectively divide the territory into five isolated zones, severing north from south and restricting civilian movement within what is already a tightly confined space.  

    Bushra Khalidi, Oxfam’s Policy Lead in the Occupied Palestinian Territory, said:  

    “For over 600 days, Israel has been saying it’s targeting Hamas, but it is civilians who have been corralled, bombed and killed en masse every day. The displacement orders follow a clear and calculated pattern: using the threat of violence to herd civilians into ever-shrinking zones of confinement. This isn’t counterterrorism, as Israel alleges —it’s the systematic clearing of Gaza through militarized force into enclaves of internment.”   

    For over 600 days, Israel has been saying it’s targeting Hamas, but it is civilians who have been corralled, bombed and killed en masse every day. This isn’t counterterrorism, as Israel alleges —it’s the systematic clearing of Gaza through militarized force into enclaves of internment.”   

    Bushra Khalidi, Oxfam’s Policy Lead

    Oxfam in the Occupied Palestinian Territory 

    The pattern of Israel’s orders followed by military strikes underscores what Israeli officials have openly stated: plans to take control of Gaza and establish militarized “humanitarian” hubs, where civilians would receive aid from private contractors under armed guard. Oxfam and other international agencies have firmly rejected these proposals as coercive, politicized, and incompatible with humanitarian principles. 

    In just the last week (15–20 May), over 160,000 people were displaced—part of a broader total of nearly 600,000 people displaced since March 18, many of them repeatedly. 

    One of the most significant recent orders, issued on 20 May, covered 34.9 km², roughly 10 percent of Gaza’s land area, that affected 150,000–200,000 people in North Gaza’s Beit Lahiya and Jabalia. The effect of such orders on already-displaced populations has been devastating.  

    “In any other conflict, civilians would have routes to flee to neighbouring areas or countries. In this case, Palestinians are entirely caged under an iron-clad siege, being shoved towards the coastline.” 

    Fidaa Alaraj – Oxfam’s Gender Advisor in Gaza- who has been displaced with her family several times, said: “Imagine trying to move with four children or an elderly parent in the middle of the night, with no transport and nowhere to go. People are so exhausted, many would rather face death than flee again.”  

    The so-called “known shelters” designated by Israel—chief among them Al-Mawasi—are little more than dust-choked encampments that offer no real protection. Al-Mawasi, a barren coastal strip of roughly 40 square kilometre that housed just 7,000 people before the war, has now been designated as a relocation site for hundreds of thousands. Despite its label as a safe zone, it has been repeatedly struck by Israeli fire. 

    Nearly all of the remaining areas where civilians are being forcibly relocated—comprising just 20 percent of Gaza’s territory—entirely lack clean water, sanitation, medical care, and basic infrastructure. This reality stands in direct violation of international humanitarian law, which obligates Israel as the occupying power to ensure displaced civilians receive adequate shelter, hygiene, and protection. 

    “This annihilation campaign and the bloodshed must end. It is long past time for Western governments and other influential powers to move beyond statements and apply meaningful pressure on Israel to lift the siege and abandon any designs on annexing Gaza”, added Khalidi. 

    “Peace cannot be brokered on the ruins of Gaza nor the theft of Palestinian land. Ahead of the Two-State Solution Summit planned in New York next month, world leaders must urge Israel to lift the siege and abandon any annexation plans of Gaza or the West Bank. What’s at stake is not only Palestine’s future, but the integrity of every nation that claims to uphold international law.”  

    MIL OSI NGO –

    May 29, 2025
  • MIL-OSI Banking: Providence Life Assurance Company (Bermuda) Limited

    Source: Isle of Man

    Published on: 29 May 2025

    On 23 May 2025 the Isle of Man Financial Services Authority issued a permit to Providence Life Assurance Company (Bermuda) Limited under section 22 of the Insurance Act 2008. The permit has immediate effect and covers Class 1 and Class 2 insurance business

    MIL OSI Global Banks –

    May 29, 2025
  • MIL-OSI USA: Governor Ivey Signs “Powering Growth” Plan into Law to Secure Energy Dominance for Future Growth

    Source: US State of Alabama

    MONTGOMERY – Governor Kay Ivey on Wednesday signed into law comprehensive legislation designed to solidify Alabama’s energy dominance, accelerate economic development and address potential critical energy infrastructure supply chain vulnerabilities. The “Powering Growth” plan includes the establishment of the Alabama Energy Infrastructure Bank, a strategic plan to mitigate long lead times for crucial energy equipment and streamlined permitting processes mirroring recent federal initiatives signed by President Trump to support economic development projects.

    The Powering Growth plan’s goal is to create a robust framework for energy dominance and security across Alabama. This initiative aligns with the Alabama Growth Alliance’s strategic priorities, focusing on expanding energy capacity and developing prime sites for industrial and commercial development, turning “shovel ready sites” into “move in ready” sites and addressing supply chain constraints.

    “In order to keep Alabama’s economy growing, we’ve got to make sure that we have the power to support it,” said Governor Ivey. “That’s what Powering Growth is all about — making sure our energy infrastructure is robust enough to meet the demands of new industries, new jobs and a stronger future. This plan ensures we’re prepared to compete, not just with neighboring states, but on a national level. By investing now, we’re laying the groundwork for long-term growth – especially in areas that need it most.”

    Key Components of Powering Growth:

    Cutting Red Tape for Energy and Economic Growth

    • Streamlines permitting and removes unnecessary regulatory delays so energy

    infrastructure projects can move faster and at lower costs.

    • Makes Alabama more attractive to industrial prospects that need speed to market and predictability in the planning process.

    Fixing Supply Chain Bottlenecks

    • Accelerates access to critical materials and equipment for energy infrastructure.
    • Reduces government-caused delays that slow down site readiness and project approvals.

    Developing More Move-In-Ready Industrial Sites

    • Funds energy development at industrial parks and economic development prospects to make more sites power ready.
    • Helps local communities compete for job-creating projects by eliminating a key barrier: lack of immediate power access.

    Creating the Alabama Energy Infrastructure Bank (AEIB)

    • Provides flexible financing for power infrastructure tied to industrial growth and job creation.
    • Funds energy infrastructure expansion to power up sites statewide.
    • Ensures grid reliability and resilience, strengthening Alabama’s long-term energy security.
    • Leverages state funds to unlock private and federal investment, without raising taxes.

    “Alabama has already achieved remarkable success by focusing on what economic development truly demands: available land, strong incentives, robust broadband and excellent roads and bridges,” said Commerce Secretary Ellen McNair. “However, energy availability consistently ranks as the No. 1 factor in site selection for economic development projects, and the demand for energy is growing exponentially nationwide. By investing in our energy infrastructure and addressing supply chain vulnerabilities – across both our urban and rural areas – we are laying the foundation for long-term economic prosperity and ensuring Alabama remains a premier destination for businesses.”

    The Alabama Growth Alliance, a coalition of business and government leaders dedicated to driving economic development, has identified energy infrastructure and supply chain resilience as key priorities. A statewide study commissioned by the Legislature and the Commerce Department identified the establishment of the Energy Infrastructure Bank as well as targeted growth projects that may help the State Industrial Development Authority in directing this funding mechanism.

    “Powering Growth is truly a visionary plan that was developed through a collaborative, forward-thinking approach to identify today our energy needs for tomorrow,” said state Sen. Arthur Orr. “You don’t want to build a levee when the water is already rising. As energy demand is going to continue to accelerate in the future, we are laying the groundwork now through Powering Growth to ensure we are able to compete and win on economic development projects for decades to come.”

    Alabama House Speaker Nathaniel Ledbetter emphasized the importance of this initiative for Alabama’s economic trajectory while stressing sustainability and accountability.

    “Building more energy capacity, overcoming supply chain hurdles and improving the speed of permitting is essential for building a stronger economy,” said Speaker Ledbetter. “This legislation represents a strategic investment in our state’s future, ensuring we have the energy resources necessary to support job creation and economic growth for generations to come while at the same time ensuring sustainable growth that protects our citizens without raising taxes.”

    Alabama Senate Pro Tem Garlan Gudger said that in the development of this package, the Legislature made it a top priority to ensure that this package focuses on helping develop and support rural areas.

    “My key focus throughout the development of these bills has been to make sure that they support and grow opportunity in the rural parts of our state,” said Pro Tem Gudger. “We worked to include language in these bills that ensures a significant portion of this investment goes to rural Alabama, and I can’t wait to see the projects and economic growth that these investments will make for years to come. Energy security and dominance is critical for growth, and this is a big step forward in ensuring that we have both here in Alabama.”

    A photo of today’s bill signing is attached.

    ###

    MIL OSI USA News –

    May 29, 2025
  • MIL-OSI Africa: African Mining Week (AMW) 2025 to Unpack the Democratic Republic of the Congo’s (DRC) Cobalt Market Prospects, Global Significance

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

    CAPE TOWN, South Africa, May 29, 2025/APO Group/ —

    As the Democratic Republic of the Congo (DRC) seeks to maximize the financial and economic returns from its cobalt reserves – considered some of the largest worldwide -, the upcoming African Mining Week will spotlight the country’s expanding investment opportunities across the cobalt value chain.

    Taking place October 1-3, 2025, in Cape Town, the event is Africa’s premier gathering of mining stakeholders. A dedicated panel discussion, titled Cobalt Opportunity: DRC’s Strategic Position in the EV Revolution, will unpack the DRC’s pivotal role in the global cobalt market, detailing how the nation is boosting value addition, addressing global demand while creating lucrative prospects for international investors.

    African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    A key ingredient for lithium-ion batteries, cobalt is witnessing a surge in demand as countries worldwide accelerate the deployment of energy transition technologies such as renewable energy, electric vehicles (EV) and energy storage. The World Bank posits that global cobalt consumption could increase to 344,000 tons in 2030, representing a 9.6% annual increase between 2017 and 2030. Accounting for 70% of global cobalt production, the DRC is strategically positioned to leverage its comparative advantage in the industry to increase revenue, drive development and consolidate its position as a global cobalt supplier.

    Given this potential, the country is enhancing its role in the global EV value chain by promoting local value addition and establishing direct supply agreements. The country partnered with Zambia and the African Export-Import Bank to develop regional Special Economic Zones (SEZs) for EV manufacturing, leveraging local cobalt resources to build a competitive industrial base. Supporting this vision is the creation of the Congolese Battery Council, which facilitates SEZ development, and a $350 million cobalt smelting plant under development in partnership with U.S.-based Delphos International. Similarly, Congolese firm Buenassa – backed by $3.5 million in initial funding from the government – is also constructing a hydrometallurgical plant in Lualaba province, set to produce 30,000 tons of copper cathode and 5,000 tons of cobalt sulphate annually by 2027.

    In addition to infrastructure advancements, the DRC is proving an attractive environment for foreign investment. Ivanhoe Mines reported revenues of $973 million in Q1, 2025 – a 57% year-on-year increase – at its Kamoa-Kakula Copper-Cobalt mine, demonstrating the potential for strong returns within the country. Meanwhile, China’s CMOC Group, the world’s top cobalt producer, achieved record-breaking production in 2024 from its Tenke Fungurume and Kisanfu mines and is on track to exceed those volumes in 2025, further strengthening the DRC’s global footprint in the EV revolution.

    Amid these developments, African Mining Week will connect global investors with the DRC’s rapidly evolving cobalt sector and its broad array of high-return opportunities. The panel discussion will outline investment opportunities, challenges and upcoming initiatives.

    MIL OSI Africa –

    May 29, 2025
  • MIL-OSI Banking: Reserve Bank cancels Certificate of Registration of M/s N.Y.Leasing Private Limited due to irregular lending practices

    Source: Reserve Bank of India

    In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC):

    Name of the NBFC Registered Office Address CoR No. CoR issued on Name of the service provider (mobile app)
    M/s N.Y. Leasing Private Limited Plot No.-54A, Third Floor, Shiv Park, Near Old Palam Road, Sector-15, Dwarka, South West Delhi, Delhi-110078 CoR No.14.00300 March 06, 1998 Bardhaman Fintech Private Limited (Shine Loan App and Curry Cash App)

    As such, the above company shall not, hereinafter, transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934.

    The CoR has been cancelled by RBI as the company has violated RBI guidelines on outsourcing of financial services in its digital lending operations by outsourcing its core decision-making functions such as such as sourcing of customers, conducting their due-diligence, disbursement of loans, collection of repayments etc. as well as Know Your Customer (KYC) verification to the Service Provider.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/429

    MIL OSI Global Banks –

    May 29, 2025
  • MIL-OSI Video: “Trillions of dollars added to the economy” – Google’s chief economist on the macro impact of AI

    Source: World Economic Forum (video statements)

    The World Economic Forum’s latest Chief Economists Outlook highlights the risks posed by global trade tensions, and examines the potential impact AI will have on economic growth.
    Google’s chief economist, Fabien Curto Millet, gives his take on the Outlook and the impact of GenAI, which he calls “the most exciting thing technologically I’ve seen in my lifetime”.

    Links:
    Chief Economists Outlook May 2025: https://wef.ch/chiefeconmay25

    Related podcasts:
    The global economy ‘at a crossroads’ ahead of Davos: Chief Economists Outlook: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-ralph-ossa-wto/
    Slow growth and the cost of debt: the World Bank’s Chief Economist on the global outlook: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-world-bank-indermit-gill/
    The global economy is slowing – here’s why that may not be such a bad thing: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-september-2023-jerome-haegeli-swiss-re/

    Check out all our podcasts on wef.ch/podcasts:
    YouTube: – https://www.youtube.com/@wef/podcasts
    Radio Davos – subscribe: https://pod.link/1504682164
    Meet the Leader – subscribe: https://pod.link/1534915560
    Agenda Dialogues – subscribe: https://pod.link/1574956552
    Join the World Economic Forum Podcast Club: https://www.facebook.com/groups/wefpodcastclub

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    Twitter ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #WorldEconomicForum

    https://www.youtube.com/watch?v=WLW5_yJxO-w

    MIL OSI Video –

    May 29, 2025
  • MIL-OSI China: Announcement on Open Market Operations No.101 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.101 [2025]

    (Open Market Operations Office, May 29, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB266 billion through quantity bidding at a fixed interest rate on May 29, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB266 billion

    RMB266 billion

    Date of last update Nov. 29 2018

    2025年05月29日

    MIL OSI China News –

    May 29, 2025
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Twenty Twenty-Five

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