Source: Bank of Botswana
The Monetary Policy Rate (MoPR) was unchanged at 1.9 percent of the previous week, for a paper maturing on 28 May 2025. The summarised results of the auction held on 20 May 2025, are attached below:
BOBC Results 20 May 2025.pdf
Source: GlobeNewswire (MIL-OSI)
SAN DIEGO, May 20, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC, a leading wealth management firm, has announced a series of significant updates to its financial technology, investment solutions and platform infrastructure in the first quarter of 2025. These ongoing improvements underscore LPL’s dedication to helping advisors harness both existing and emerging technologies to optimize their time, create tailored client experiences, and offer more advanced and personalized financial guidance. The first quarter of 2025 saw the introduction of 80 new product enhancements—designed to enhance the experiences of advisors, institutions and end clients.
“Our goal is to consistently enhance the tools and processes used daily, allowing advisors to focus on their core business activities. We are also continuously strengthening our platforms to ensure they are secure, reliable and resilient,” said Greg Gates, Group Managing Director, Chief Technology and Information Officer at LPL. “By leveraging our scale and insights from over 29,000 advisors and 1,200 institutions, we are committed to continuously refining and reinvesting in our technology to address the most critical needs of today’s financial professionals.”
New and Enhanced Tech Solutions
Leadership Expansion
Further strengthening its technology leadership, LPL recently welcomed Vaughn Harvey as Executive Vice President and Chief Data and Artificial Intelligence Officer. Harvey will lead the company’s data and AI initiatives, driving innovation and digital transformation across the organization.
Industry Recognition
LPL received the Bank Insurance and Securities Association’s 2025 Technology Innovation Award for Meeting Manager, a proprietary solution that supports advisor productivity, improves oversight for program managers and changes the game on how advisors in institutions engage with their clients. In addition, LPL’s Chief Information Security Officer Renana Friedlich was recognized by CISO Village on the Cyber 25 Women of Impact List for driving change in the cybersecurity industry.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
Media Contact:
Media.relations@LPLFinancial.com
(402) 740-2047
Tracking #: 738811
Source: GlobeNewswire (MIL-OSI)
Looking for the best loan options for bad credit? Upstart offers personal loans with guaranteed approval and fast funding, ideal for urgent needs like debt consolidation or medical bills. Apply today and take control of your finances.
SAN CARLOS, Calif., May 20, 2025 (GLOBE NEWSWIRE) — When you’re struggling with bad credit, applying for a loan can feel like facing a locked door. Traditional banks often reject applications based solely on credit scores, leaving many people feeling like they’ve run out of options.
But having a low credit score doesn’t mean you’re out of choices. The lending landscape has evolved, with several companies now using more holistic approaches to evaluate borrowers beyond just their credit scores.
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Here, we’ll explore best loans for bad credit, with a particular focus on Upstart’s AI-powered lending platform. We’ll examine what makes certain loans more suitable for bad credit situations, how to apply, and provide honest comparisons to help you make an informed decision.
Key Takeaways
What Is a “Bad Credit” Score and How Does It Affect You?
Before diving into the best loans for bad credit, it’s important to understand what lenders mean by “bad credit” and how it affects your borrowing potential. Credit scores typically range from 300 to 850, with higher scores indicating better creditworthiness. Here’s how scores are generally categorized:
| Credit Score Range | Category | Typical Loan Accessibility |
| 740+ | Excellent | Easily approved with best rates |
| 670-739 | Good | Good approval odds with competitive rates |
| 580-669 | Fair | Limited options with higher rates |
| Below 580 | Poor/Bad | Specialized lenders, highest rates |
A score below 580 is typically considered “bad credit” and results from factors such as:
A low score can be a hurdle, but it’s not the end of your options. Many people have successfully rebuilt their credit over time, and some lenders specifically focus on helping borrowers during this rebuilding phase. These include no credit check loans guaranteed approval direct lender options, which help provide access to necessary funds.
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Upstart: AI-Powered Best Loans For Bad Credit
After researching multiple lenders that work with bad credit borrowers, Upstart stands out for its innovative approach to loan approvals as the best loan option for bad credit scores.
How Upstart Differs from Traditional Lenders
Unlike conventional banks that rely heavily on credit scores, Upstart uses artificial intelligence to evaluate loan applications. Their technology considers over 1,000 data points, including:
This means that even if your credit score is below 580, other positive factors in your profile could help you qualify for a loan with more reasonable terms than you might expect.
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Upstart Loan Details
| Loan amounts | $1,000 to $50,000 |
| APR range | 6.70% to 35.99% (rates vary based on creditworthiness and loan terms) |
| Repayment terms | 36 or 60 months (fixed) |
| Origination fee | 0% to 12% (deducted from loan proceeds) |
| Minimum credit score | Officially none, but realistically 300+ for most approvals |
| Funding time | As soon as one business day after approval |
| Prepayment penalty | None |
Real Customer Experience: Michael’s Story
Michael, a 34-year-old electrician from Ohio, faced a tough financial period after a divorce and a medical emergency. His credit score dropped to 540, and he found himself paying high interest rates on credit cards and other debt.
“I needed $12,000 to consolidate my high-interest debt and stop the cycle of falling behind,” Michael said. “I applied to my local bank, but they rejected me. Payday loan places wanted to charge me insane interest rates.”
After applying with Upstart, Michael was approved for a $12,000 loan at a 24.5% APR with a 36-month term. While the rate was higher than prime loans, it was significantly lower than the rates he was paying on credit cards and much better than the 400%+ APR payday loans he had considered.
“The application took just 10 minutes, and the funds were in my account the next day. After eight months of on-time payments, my credit score has already improved by 45 points.
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How Upstart Compares to Alternatives
To help you understand your options, we’ve compared the best loans for bad credit, highlighting Upstart alongside other common lending sources for borrowers with low credit scores.
As the comparison shows, Upstart offers a middle ground between traditional banks—which often deny applications—and predatory lenders that charge excessive rates. Upstart’s AI-based approach means many borrowers with sub-580 credit scores can secure better rates than with other lenders.
In contrast, no credit check payday loans guaranteed approval often come with significantly higher interest rates.
Upstart:
Traditional Banks:
The Application Process: What to Expect
If you’re considering applying for best personal loan with bad credit, understanding the process can help reduce anxiety and increase your chances of approval.
Required Documentation
For an Upstart application, you’ll need:
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Step-by-Step Application Process
“The application process was much less stressful than I expected,” shared Jamie, a teacher from Florida with a 565 credit score who borrowed $8,000 for home repairs. “I thought I’d need to explain my credit mistakes, but the system seemed more interested in my stable job history and education.”
CHECK IF YOU QUALIFY WITH NO IMPACT TO YOUR CREDIT SCORE
Warning Signs of Predatory Lenders
When searching for loans, it’s important to avoid predatory lenders who charge exorbitant rates. Look out for:
Using Loans to Rebuild Your Credit
A personal loan isn’t just a way to get money—it’s a tool for financial recovery. When looking for the best loans for bad credit, here’s how to make the most of your loan:
Is Upstart Right for You?
Upstart is a great option if:
It may not be ideal if:
CHECK YOUR RATES WITH NO RISK TO YOUR CREDIT SCORE.
Final Thoughts: Finding the Right Path Forward
Bad credit doesn’t have to be a roadblock to financial freedom. With Upstart, you have a chance to access the best loans for bad credit that consider more than just your credit score—an opportunity to rebuild your credit, consolidate debt, and cover emergency expenses.
Whether you need funds for medical bills, home repairs, or even debt consolidation, Upstart’s AI-powered platform evaluates your full financial picture, offering loan options with fairer terms than traditional lenders. With fast approval and funding within one business day, you’re never left waiting for a lifeline.
But it’s more than just getting a loan—it’s about regaining control of your financial future. By making timely payments, you can improve your credit score and open doors to better financial opportunities down the road.
Frequently Asked Questions
Q: Is Upstart legit?
A: Yes, Upstart is a legitimate and reputable online lender. Founded in 2012, Upstart is a fully licensed lender that uses an AI-driven model to evaluate loan applicants based on more than just their credit score, including factors like education, income, and employment history. Upstart is a member of the Better Business Bureau (BBB) and operates with transparency, making it a trustworthy option for borrowers with bad credit looking for personal loans.
Q: Does applying affect my credit score?
A: The initial pre-qualification uses a soft credit check that doesn’t impact your score. If you proceed with a full application, a hard inquiry will be placed on your credit report, which typically has a small, temporary impact.
Q: What if I’m self-employed?
A: Self-employed individuals can qualify, but you’ll need to provide documentation of steady income, typically through tax returns or bank statements showing consistent deposits.
Q: Can I pay off my loan early to save on interest?
A: Yes, Upstart has no prepayment penalties, so you can pay extra or pay off the entire balance early without additional fees.
Q: How does Upstart determine my interest rate?
A: Rates are determined by analyzing your credit profile, education, employment history, income, and other factors using their proprietary AI algorithm.
QUICK AND EASY APPLICATION—GET YOUR LOAN APPROVED FAST
Email: support@upstart.com
Disclaimer: The information provided in this article is for educational purposes only and does not constitute financial advice. Interest rates, loan terms, and approval criteria mentioned are approximate and may vary based on individual circumstances and market conditions. Always review the full terms and conditions before applying for any loan and consider consulting with a financial advisor regarding your specific situation. This article may contain affiliate links, meaning we may receive compensation if you apply through these links. This compensation does not affect our editorial opinions or recommendations.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dba4f282-d36a-4f65-90a1-9c62b168a010
https://www.globenewswire.com/NewsRoom/AttachmentNg/f39018e2-3ddc-4056-b1bf-f5573340ac1f
Source: GlobeNewswire (MIL-OSI)
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Media Details:
Project Name: Pokie Spins Casino
Company Name: Pokie Spins Pty Ltd
Address: Level 2, 70 Pitt Street, Sydney NSW 2000, Australia
Contact Person: Mirri Taylor
Designation: Public Relations Manager
Phone Number: +61 2 8006 1234
Email (Direct): M.taylor@pokiespins.com
Company Email: info@pokiespins.com
Website: https://pokiespins.com
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cb1780ed-449f-4968-af93-03c1ccaa0d7c
Source: Africa Press Organisation – English (2) – Report:
ABIDJAN, Ivory Coast, May 20, 2025/APO Group/ —
“Before, farming was an unattainable dream. Today, I feed my children from the land.” These words from Assia Obakar Hassan, a mother from the village of Kalaf, epitomize the profound transformation benefiting part of rural northern Djibouti thanks to a regional project implemented by the Intergovernmental Authority on Development (IGAD) with funding from the African Development Bank (www.AfDB.org) through the Africa Climate Change Fund (ACCF).
In this region vulnerable to drought, food insecurity and rural poverty, secure access to land represents much more than a right to property: it is a tool for adapting to climate change and a lever for economic emancipation for hundreds of women.
Regaining dignity through the land
Living conditions in Kalaf and Dafenaytou have been transformed by the introduction of family vegetable gardens, forage plots, adapted farming tools and practical training. The aim is to make local agriculture a pillar of resilience, starting with those who support it on a daily basis.
“We had no right to land, no equipment and no training. Today, everything has changed,” explains Fatouma Ali Aden, a mother of three from Dafenaytou. “Our children eat fresh vegetables, and we are no longer dependent on foreign markets.”
Each household now has its own production area. “Thanks to these gardens, we have regained our autonomy,” adds Djilani Ali Ahmed, a community leader in Kalaf. “The women manage their own production and income and contribute to the village economy.”
Agricultural governance driven by women
The project was not confined to production: it also transformed local governance. The agricultural cooperative in Dafenaytou has over 70 members, the majority of whom are women, and 50% of its board members are female.
“Women are no longer just workers, they are decision-makers,” says Ali Kamil Mohamed, head of the cooperative. “Their practical vision and commitment have improved the effectiveness of all our actions.”
This change in approach has helped ensure a better match between the needs on the ground and the solutions proposed, consolidating the sustainability of the project.
Health, security and education: cascading effects
The social benefits of the project are considerable, from hygiene to nutrition and economic stability. The introduction of resistant seeds, simple irrigation systems and wheelbarrows has reduced the drudgery of the work and secured household food supplies.
“We now have a supply of grass for our animals, vegetables for our meals and even a small surplus to sell,” says Mohamed Soumbourouh Ibiro. “It’s a source of pride and security.”
The local school in Dafenaytou has also noted an improvement in attendance and concentration among children, especially girls, who have been freed from the chores of fetching water or food.
This project is an illustration of the African Development Bank’s strategic priorities, in particular one of the “High 5” pillars: “Improve the quality of life for the people of Africa” by promoting gender equality, ensuring food security and building climate resilience.
“This project has proved to us that it is possible,” concludes Assia Obakar Hassan. “With a little help, we can transform our villages, feed our families and pass on fertile land to our children.”
As climate challenges intensify in the Horn of Africa, Kalaf and Dafenaytou are leading the way. The IGAD/AfDB project has not only provided water, seeds and training: it has given dignity, confidence and a voice back to rural women.
In these villages, where every drop of water counts, the land has become a symbol of life, hope and resilience.
Source: Africa Press Organisation – English (2) – Report:
N’DJAMENA, Chad, May 20, 2025/APO Group/ —
The President of the Republic of Chad, His Excellency Mahamat Idriss Déby Itno, has conferred on President and Chairman of the Board of Directors at African Export-Import Bank (Afreximbank) (www.Afreximbank.com), Professor Benedict Oramah, the prestigious national honours award of Commander by appointing him to the National Order of Chad, under the Ministry of Finance, Budget, Economy, Planning and International Cooperation, for his`1yyyyh outstanding contributions to the Chadian and African economies.
The rank of Commander (Commandeur) is a high distinction within this order, reflecting significant and sustained achievements while the National Order of Chad is a prestigious state honour awarded by the Republic of Chad to recognize exceptional service or contributions to the nation.
Reflecting on Chad’s 2022 political transition, President Idriss Derby Itno, expressed profound gratitude to Prof. Oramah and Afreximbank for standing with the country. He noted, “When other international lenders fled at the height of the unfortunate socio-political conflicts, Afreximbank stood firmly behind our country, continuing to push vital investments that now underpin the rapid socioeconomic recovery of our nation.”
While acknowledging the award, Professor Oramah said: “This honour is not just a recognition of my efforts, but a testament to the collective resolve of Afreximbank and its partners to transform Chad’s economy and empower its people. While I am deeply humbled by this honour, it is a call to duty. It was a reminder to the Bank to do even more to accelerate the structural transformation of the Chadian and the wider African economies.”
Chad became a member state of Afreximbank during the 36th African Union Summit where Afreximbank pledged to support strategic development projects in agriculture and livestock, two key pillars of Chad’s economy, to drive sustainable growth and economic diversification.
Afreximbank reaffirms its unwavering commitment to advancing Chad’s economic development through targeted investments, trade facilitation, and institutional capacity-building, ensuring shared prosperity and resilience in the years ahead.
Source: GlobeNewswire (MIL-OSI)
SHERIDAN, Wyo., May 20, 2025 (GLOBE NEWSWIRE) — When emergencies strike, you need funds fast, without the hassle of credit checks. 1 hour payday loans no credit check offer a quick solution for bad credit borrowers needing instant cash. Whether it’s for urgent bills or unexpected repairs, these loans provide same-day approval and fund transfers within an hour.
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However, as with any loan, it’s essential to borrow responsibly, understanding the repayment terms and associated fees.
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Borrowers with poor credit often struggle to find lenders willing to approve their applications. Thankfully, no credit check payday loans and instant payday loans with Guaranteed Approval offer practical solutions. These loans focus on your income and repayment ability, ensuring quick access to funds without the hurdles of traditional credit checks.
Here are the most common types of no credit check payday loans available:
1. 1 Hour Payday Loans No Credit Check
2. Instant Payday Loans for Bad Credit
3. No Credit Check Instant Personal Loans
4. Same Day Loans No Credit Check
5. $255 Payday Loans Online Same Day
Platforms like IOnline Payday Loans make it easy to explore these options by connecting you with lenders who specialize in no credit check loans for bad credit borrowers.
How to Apply for No Credit Check Instant Personal Loans with Fast Approval
Applying for a no credit check instant personal loan is simple, especially through trusted platforms like IOnline Payday Loans. Here’s a step-by-step guide to securing fast approval and same-day funds:
1. Visit IOnline Payday Loans
Start by visiting IOnline Payday Loans, a platform that connects you with lenders offering instant payday loans for bad credit with no credit check.
2. Select Your Loan Amount
Choose the loan amount you need. Whether it’s a $255 payday loan online same day or a larger emergency personal loan for bad credit score, select an amount you can comfortably repay.
3. Complete the Online Application
Fill out a quick form with your personal details, employment information, monthly income, and bank account details. The application process is entirely online and takes just a few minutes.
4. Submit & Get Matched with Lenders
After submission, IOnline Payday Loans instantly matches your profile with trusted lenders specializing in no credit check instant personal loans.
5. Review Offers & Accept
You’ll receive loan offers with transparent terms. Carefully review interest rates, fees, and repayment schedules before accepting an offer.
6. Receive Funds the Same Day
Once you accept the loan terms, funds are usually deposited into your bank account the same day. For urgent needs, some lenders even offer 1 hour payday loans no credit check.
This streamlined process ensures fast access to funds, even for borrowers with bad credit, without the hassle of traditional credit checks.
Features & Benefits of IOnline Payday Loans for Same Day Loans No Credit Check
When time is of the essence and your credit score is holding you back, IOnline Payday Loans offers a fast, reliable solution. The platform specializes in connecting borrowers with lenders who provide same day loans no credit check, making emergency borrowing simple and stress-free.
Key Features:
Benefits:
Whether you’re dealing with an unexpected bill or a short-term cash shortage, IOnline Payday Loans ensures quick and hassle-free access to funds when you need them the most.
Why IOnline Payday Loans is the Best Choice for Payday Loans Online for Bad Credit
For borrowers with poor credit, securing a loan can often feel like an uphill battle. Traditional banks and lenders focus heavily on credit history, making approvals difficult for those with past financial mistakes. This is where IOnline Payday Loans becomes a trusted solution for accessing payday loans online for bad credit.
IOnline Payday Loans is not a direct lender but an online platform that connects borrowers to a network of trusted lenders who specialize in no credit check loans. These lenders focus on your current income and ability to repay rather than relying on your credit score, significantly improving your chances of approval.
One of IOnline’s biggest strengths is speed. Whether you’re seeking instant payday loans for bad credit or need a small $255 payday loan online same day, IOnline’s lenders offer fast approvals and same-day fund transfers, often within an hour.
Additionally, IOnline is committed to transparency. All loan offers are presented with clear terms, including interest rates, repayment schedules, and any applicable fees. This ensures borrowers can make informed decisions without worrying about hidden costs.
The convenience of a fully online application process means you can apply from anywhere, eliminating the need for time-consuming paperwork and office visits. IOnline also streamlines the process by matching you with lenders who best fit your borrowing needs.
By offering high approval rates, fast fund disbursal, and a user-friendly experience, Instant personal loans for bad credit IOnline Payday Loans is the go-to choice for bad credit borrowers seeking reliable payday loans online.
IOnline Payday Loans Application Process for Instant Personal Loans for Bad Credit
Applying for an Instant personal loans for bad credit through IOnline Payday Loans is a simple, fast, and hassle-free process. Here’s how you can get started and receive funds quickly:
Step 1: Select Loan Amount
Begin by determining how much money you need. Whether it’s a small $255 payday loan online same day or a larger personal loan, select an amount that meets your immediate needs and fits within your repayment capacity.
Step 2: Organize Required Information
Although no hard credit checks are performed, you’ll need to provide basic information. Prepare your ID proof, employment details, income verification, and bank account information. Having this ready speeds up the approval process.
Step 3: Fill Out the Online Application
Visit IOnline Payday Loans and complete the quick online application form. You’ll be asked for personal details, financial information, and your loan requirements. The form is user-friendly and takes only a few minutes to fill out.
Step 4: Eligibility Assessment
IOnline’s partner lenders evaluate your application based on your current income and ability to repay. Since no credit check instant personal loans are being offered, your credit score will not impact the approval decision.
Step 5: Get Matched with Direct Lenders
IOnline instantly connects you with lenders who specialize in bad credit loans. You’ll receive loan offers tailored to your profile, ensuring you get the best match for your needs.
Step 6: Review, Accept & Receive Funds
Carefully review the loan offer, including repayment terms, interest rates, and any applicable fees. Once you accept, the lender processes the loan and transfers funds directly to your bank account. For urgent needs, many lenders provide same-day deposits or even 1 hour payday loans no credit check.
This efficient process ensures that bad credit borrowers can access funds quickly, securely, and without unnecessary stress.
Eligibility Criteria for Bad Credit Personal Loans Direct Lenders
Getting approved for a bad credit personal loan is much easier when you work with direct lenders who focus on current financial capability rather than credit history. Platforms like IOnline Payday Loans streamline this process, connecting you with lenders who have flexible eligibility criteria.
To qualify for a personal loan through IOnline’s network, you typically need to meet the following basic requirements:
Unlike traditional loans, bad credit personal loans direct lenders do not perform hard credit checks. Your credit score does not influence the approval decision. Instead, lenders focus on verifying your current income and repayment capacity.
By keeping the eligibility simple, IOnline Payday Loans ensures that borrowers with poor credit histories can still access funds quickly and efficiently, making them a trusted choice for emergency financial needs.
Other Types of $255 Payday Loans Online Same Day & No Credit Check Options
Beyond standard payday loans, borrowers with bad credit have access to several flexible loan options that offer quick approvals and no credit checks. These alternatives are designed to meet different emergency financial needs while ensuring fast fund transfers.
$255 Payday Loans Online Same Day
No Credit Check Instant Personal Loans
Instant Payday Loans for Bad Credit
Same Day Loans No Credit Check
Bad Credit Personal Loans Direct Lenders
Platforms like IOnline Payday Loans make it easy to explore these options, connecting borrowers with trusted lenders who specialize in fast, no credit check loans for bad credit.
Wrapping Up
When you’re facing an urgent financial crisis, time is critical. For borrowers with poor credit, 1 hour payday loans no credit check offer a practical and fast solution. Unlike traditional loans that involve long waiting periods and hard credit checks, these payday loans focus on your income and ability to repay, ensuring quick approvals and same-day fund transfers.
Whether you need a small $255 payday loan online same day or a larger personal loan, platforms like IOnline Payday Loans simplify the process. By connecting you with direct lenders who specialize in bad credit loans, IOnline ensures you can access emergency funds without unnecessary hurdles.
Frequently Asked Questions
1. Can I really get a 1 hour payday loan with no credit check?
Yes. 1 hour payday loans no credit check are designed for urgent financial needs, providing approvals and fund transfers within an hour. Lenders focus on your income, not your credit score, making approval easier for bad credit borrowers.
2. How do no credit check payday loans work?
With no credit check payday loans, lenders skip traditional credit inquiries and assess your current income and repayment ability. This speeds up the process and increases approval chances, even for those with poor credit histories.
3. Are instant payday loans for bad credit safe?
Yes, if you use trusted platforms like IOnline Payday Loans. They connect you with verified lenders offering instant payday loans for bad credit with clear terms and no hidden fees. Always read loan agreements carefully before accepting.
4. Can I apply for no credit check instant personal loans online?
Absolutely. No credit check instant personal loans are available through online platforms. The application is quick, and funds are typically disbursed on the same day, with some lenders offering near-instant approvals.
5. What is the difference between same day loans no credit check and $255 payday loans online same day?
Both offer fast approvals without credit checks. Same day loans no credit check cover a wider range of amounts and loan types, while $255 payday loans online same day refer specifically to small-dollar loans for urgent, minor expenses.
Project Name: IOnline Payday Loans
Registered Office Address: 1095 Sugar View Dr Ste 500 Sheridan, WY 82801
Company Website: https://ionlinepaydayloans.com/
Email: mria@ionlinepaydayloans.com
Phone: 307-777-7311
Contact person name: Mria
Disclaimer: This announcement contains general information about Ionline payday loan services and should not be considered financial advice. Ionline Payday Loans does not guarantee loan approval, and loan terms may vary by applicant and lender requirements. Loans are available to U.S. residents only.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cafc4254-796e-4a55-8a46-e32af1821255
Translation. Region: Russian Federal
Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –
The results of one of theflagship educational projects of SPbPU in the field of PR and advertising for the country’s studying youth. For the first time, not only students but also schoolchildren from 16 Russian cities participated in the all-Russian competition-forum of communication projects “Engineers of Meanings” of the Higher School of Media Communications and Public Relations of the Humanitarian Institute.
This year the event was held with the support of the Association of Public Relations Teachers, the Foundation for the Support of Innovations and Youth Initiatives of St. Petersburg, the Association of Organizations and Specialists in Innovations in the Sphere of Education and the All-Russian public organization “Russian Creative Union of Cultural Workers”.
Of the 78 projects submitted for the first correspondence stage of the competition, 19 works in four main nominations reached the final: “Best Theoretical Work”, “Best Practical Work for an Educational Organization”, “Best Practical Work in the Industry” and “Visionary of the Communications Industry”, as well as 18 works in the special nomination “Legacy of the Great Victory”. The finalists were invited to face-to-face defenses at SPbPU, where a two-day forum with an educational program awaited them.
At the opening, the participants were greeted by the director of the All-Russian competition-forum “Engineers of Meanings”, director of the Higher School of Media Communications and Public Relations of the SPbPU GI Marina Arkannikova and the head of the competition-forum “Engineers of Meanings”, 1st year student of the master’s program in Advertising and Public Relations Irina Frey.
I am proud of the competition’s organizing team. Just three years ago, we discussed the initiative for this event, and today it is already a practice-oriented project proving its effectiveness in your education. This year, you have expanded its scale and geography – now schoolchildren are with us. Many thanks to you and all the guests of the Polytechnic who are with us today, – noted Marina Arkannikova.
The business and educational program of the first day was opened by a lecture by representatives of the Foundation for Support of Innovations and Youth Initiatives of St. Petersburg Ekaterina Kholodnova and Tatyana Abramovich, organizers of the project “Mediator: How to Make Everyone Happy” in the competition “Design of the Young/Young Design”. They talked about the formats of the competition and analyzed the role of mediators in the design industry. Editor-in-chief of the industrial publication Sostav.ru Roman Bedretdinov gave a lecture “Artificial Intelligence: an Unlimited Field of Co-Creation”. Founder of the LOUD communications award Ksenia Tikhankina gave a report on the topic “Creative Tools in PR: a Strategic Approach to Coverage, Meaning and Efficiency”.
On the second day, Alexandra Shushlina, a representative of the press service of the Moscow Department of Labor and Social Protection, gave a lecture on “Professional Care: PR of Social Projects” and talked about the projects of the “School of Kinship Care”. Daniil Rogozin, the founder of Gelios Biscotto, held a master class on “The Magic of Start: How an Idea Becomes a Successful Product Online”. He shared the secrets of building a roadmap for his product and told what needs to be done to get the President of the Russian Federation to try your product. Andrey Chirkov, PR Director of Zarenkov Gallery and Ambassador of Russian Circus Arts, shared ideas for non-standard PR campaigns and creative integrations at the master class “PR in the Circus: and it’s not funny”.
The forum also included a training session “PR tools for beginners — the whole truth about the work of the press service” from Victoria Grechina, head of the public relations department of the financial corporation “Consortum”, a case championship from Ekaterina Lisovskaya, commercial director of the digital agency AdAurum Group, and a workshop “Creating meanings: a creative approach to special projects” from Galina Filippova, PR Team Lead of the international digital agency Magnetto.pro.
At the award ceremony, the authors of the best works thanked Polytechnic for the events and exchanged impressions.
I was once at the origins of this project. I am very glad that the competition is growing and scaling. More and more guys from the regions are participating in it. This year there was a very interesting program from professionals in our industry. Thank you to the jury for the high assessment of my project and for the recommendations, – noted Adelina Borozdina, a second-year student of the Master’s program “Advertising and Public Relations” at the Higher School of Management and Social Sciences.
The winner in the nomination for schoolchildren was Ksenia Baraeva from Bryansk, a student of grade 10B of Gymnasium No. 6.
Can a schoolchild feel confident among students? Definitely yes! Thanks to the forum “Engineers of Meanings”. These are not only lectures and master classes from specialists, but also an opportunity to communicate with students and learn everything about studying at the university. I was convinced that I really like the direction “Advertising and Public Relations” at the Polytechnic University. I am sure that for many schoolchildren the forum became an excellent opportunity to get acquainted with the university and their future profession. Next year I will definitely participate in the forum again, this time with new ideas and meanings, – said Ksenia.
Nomination “Best theoretical work”:
“Financial Culture — a Conscious Trajectory”, authors — Ksenia Gvozdkova, Ilya Belousov, Anna Krotova, Ksenia Popova, Anastasia Minenkova, scientific supervisor — senior lecturer of the Department of Management of the RANEPA SIU Marina Ivanova; “ECO-Fest | T-Bank 2025”, authors — Varvara Smirnova, Anastasia Soloveichik, Anton Li, Tomasz Adamowicz, scientific supervisor — associate professor of the SPbPU HSMiSO Irina Melnikova; “Creative PR for the T-Bank Vozvrat cash refund service”, authors — Alexandra Lipatova, Yulia Lutfullina, Varvara Nuryaeva, Polina Shtrik, scientific supervisor — head of the Department of Philosophy of Language and Communication of Moscow State University Anna Kostikova; “UGMK Professions”, authors – Arina Senchilo, Victoria Pirogova, Victoria Khizhuk, scientific director – associate professor of the Higher School of Medical and Social Sciences of St. Petersburg Polytechnic University Irina Melnikova.
Nomination “Best practical work for an educational organization”:
Communication support of the XXV Anniversary season of the city photo exhibition of young photographers “POLYTECH-PHOTO”, author – Adelina Borozdina, scientific supervisor – associate professor of the Higher School of Music and Social Sciences of SPbPU Elina Avakova; Audio guide to digital culture of UlSTU “Voice of the Ages”, authors – Arina Budaeva, Kristina Grigorieva, Ksenia Moskolonova, Vyacheslav Moiseev, Anastasia Trubacheva, scientific supervisor – UlSTU associate professor Valentina Kamanina; Communications Festival “Kulek”, authors – Ilvina Zaripova, Tatyana Gontar, Vladislav Gubenko, Elizaveta Lysenko, Daria Tarasova, scientific supervisor – director of the Institute of Philology, Journalism and Intercultural Communication of SFedU Anna Dmitrova; PolyUnity: Adaptation of foreign students, authors – Polina Bazarova, Nikolay Bessarabov, Maria Derebenskaya, Sergey Korotkov, Kantemir Kochesokov, scientific supervisor – associate professor of the Higher School of Medical and Social Sciences of SPbPU Elina Avakova.
Nomination “Best practical work in the industry”:
Special project “Avitenok”, authors – Marina Berezina, Ksenia Sayakina, Ksenia Serova, Angelina Umarova (“Higher School of Economics”); Creation and promotion of the handmade clothing brand “Pavvuchixa”, author – Yulia Chistyakova, scientific supervisor – Associate Professor of the Department of Journalism, Advertising and Public Relations of NArFU Olga Votintseva.
Nomination “Visionary of the Communications Industry”:
Ksenia Chueva, P.A. Stolypin Volga Region Institute of Management – branch of RANEPA; “Special Prize” for a conscious choice of professional path – Lilia Sargsyan, Moscow Financial and Industrial University “Synergy”.
Nomination “Heritage of the Great Victory” (student projects):
“Musical Kaleidoscope” dedicated to the 80th anniversary of the Victory in the Great Patriotic War, author – Yuna Fedorova, scientific supervisor – Associate Professor of the Brand Communications Department of the Institute of Business Communications of St. Petersburg State University of Industrial and Technical Design Veronika Smirnova; Video dedicated to the 80th anniversary of the Victory in the Great Patriotic War and the 100th anniversary of the war veteran Vladimir Stepanovich Mikhin, author – Anastasia Sidorenko, scientific supervisor – Head of the Department of Electronic Media and Speech Communication of the Faculty of Journalism of VSU Valeria Kolesnikova; “My great-grandfather is my pride! The contribution of the home front worker Mikhail Prokopyevich Zelenkin to the development of Izhevsk weapons during the Great Patriotic War”, author – Mikhail Lekomtsev, scientific supervisor – Director of the College of the Izhevsk Institute of VSUJ (RPA of the Ministry of Justice of Russia) Stanislav Kalugin; “Two Eras – One Victory” information support for a family festival at a recreation center, author – Anastasia Nazarova, scientific director – professor of the Ulyanovsk State Technical University Olga Shinyaeva; “Special Prize” for contribution to patriotic education of the younger generation: scenario of a quest lesson on the topic “The Great Patriotic War”, author – Vladislava Safonova, Surgut State Pedagogical University.
Nomination “Heritage of the Great Victory” (school projects):
Video clip “In Memory of the Victims of Khatsuni”, author – Ksenia Baraeva, 10B grade student, Gymnasium No. 6, Bryansk; “Special Prize” for contribution to patriotic education of the younger generation – “History beyond time”, author – Maria Palchik, Engineering and Technology School No. 777, St. Petersburg.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Source: Africa Press Organisation – English (2) – Report:
ACCRA, Ghana, May 20, 2025/APO Group/ —
The upcoming Mining in Motion Conference – Ghana’s premier gathering for gold mining stakeholders, scheduled for June 2 – 4 in Accra – will feature a dedicated panel exploring the financial challenges, opportunities, and best practices for the artisanal and small-scale mining (ASM) sector.
The session, titled Funding Models for ASM, will convene representatives from Ghana’s Minerals Income Investment Fund (MIIF), BloombergNEF, the African Development Bank, AlphaStream and StoneX. The speakers will delve into available financing options and strategies aimed at empowering ASM operators to scale their activities and contribute more significantly to Ghana’s mining-driven economic growth.
The ASM sector plays a vital role in Ghana’s economy, generating over $5 billion in gold export revenue annually, employing more than one million people, and contributing over 40% of the country’s total gold production. Recognizing this impact, the Ghanaian government has initiated several mechanisms to improve financial accessibility for ASM operators. One such initiative is the establishment of the Gold Board, an agency designed to serve as the sole exporter for ASM gold in Ghana. This integration ensures legal trade, supply chain inclusion, and access to accreditation and financing opportunities.
Government-led programs, such as the Ghana National Association of Small-Scale Miners and the Minerals Commission’s Community Mining Scheme provide a mix of loans and grants. MIIF is rolling out its Small-Scale Mining Incubation Program, offering between $200,000 and $5 million per mine to accelerate exploration and production efforts.
The financial sector has also shown strong commitment to supporting Ghana’s mining industry. Stanbic Bank has pledged $1.1 billion in funding for the mining, metals, and energy sectors over five years, including $100 million in loans for local contractors, a $90 million expansion loan for a gold mining firm, and an $80 million environmental bond covering six gold mines.
Firms like AlphaStream and StoneX are also stepping in with financial solutions that span the mining value chain, positioning themselves as key enablers of Ghana’s mining expansion ambitions. Their involvement in the Mining in Motion Conference as sponsors further signals growing interest in Ghana’s mining finance landscape.
Mining in Motion will serve as a showcase for both traditional and innovative funding models -ranging from public-private partnerships and community-based financing to ESG-linked instruments – highlighting how these tools are being leveraged to strengthen the ASM sector and drive inclusive growth in Ghana’s mining industry.
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.
Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting www.MiningInMotionSummit.com. For sponsorship opportunities or delegate participation, contact sales@ashantigreeninitiative.org.
Source: GlobeNewswire (MIL-OSI)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
Nykredit Realkredit A/S has received all regulatory approvals to complete the recommended, voluntary public tender offer for Spar Nord Bank A/S
20 May 2025
Nykredit Realkredit A/S has received the Danish Competition and Consumer Authority’s approval, after which all regulatory approvals to complete the recommended, voluntary public tender offer for Spar Nord Bank A/S have been received
In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion. As stated in the supplement dated April 2, 2025, the offer price has subsequently been increased to DKK 210.50 per share.
On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order. The Offer Document was most recently supplemented in a supplement of 23 April 2025.
Nykredit today received the Danish Competition and Consumer Authority’s approval of Nykredit’s acquisition of sole control over Spar Nord Bank pursuant to part 4 of the Danish Competition Act. The last of the regulatory approvals which, in accordance with section 6.16 of the Offer Document, constitute the “Regulatory Condition” for the Offer has thus been received.
Completion of the Offer is subject to the remaining conditions set out in section 6.6 of the Offer Document being satisfied.
The Offer Period expires on 20 May 2025 at 23:59 (CEST). On 21 May 2025, Nykredit expects to publicly announce a preliminary compilation of the number of acceptances and announce whether the Offer will be finalised.
Nykredit intends to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders, provided that Nykredit has obtained the necessary ownership interest, and the Offer has been completed. Spar Nord Bank shareholders who have opted not to accept the Offer, should expect that Nykredit, provided that the Offer is completed, will take steps to combine Nykredit Bank A/S and Spar Nord Bank, which will result in a further increase in Nykredit’s ownership interest in Spar Nord Bank. Not later than in continuation of the combination, Nykredit thus expects to hold a sufficient ownership interest to be able to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders.
After Nykredit Realkredit A/S has received all regulatory approvals to complete the voluntary tender offer for Spar Nord Bank A/S, Michael Rasmussen, Group Chief Executive, states:
“We are pleased to have received the merger control approval from the Danish Competition and Consumer Authority. Spar Nord and Nykredit are both strong banks experiencing growth, customer inflows and high customer satisfaction.I look forward to soon welcoming customers and colleagues from Spar Nord.
The Nykredit Group’s ‘Winning the Double’ strategy continues, because partnerships are a crucial part of our strategy. Our partners can therefore expect us to further engage and invest in our important communities in Totalkredit, BEC, Sparinvest, nærpension and Privatsikring. Partnerships that ensure that we together stand stronger in the Danish financial market and in our interaction with customers.”
Questions and further information
Any questions concerning the Offer may be directed to:
Nykredit Bank A/S
Company reg. (CVR) no.: 10 51 96 08
Sundkrogsgade 25
2150 Nordhavn
Denmark
Telephone: +45 7010 9000
and
Carnegie Investment Bank
Filial af Carnegie Investment Bank AB (publ), Sverige
Company reg. (CVR) no. 35 52 12 67
Overgaden Neden Vandet 9B
1414 Copenhagen K
Denmark
E-mail: annette.hansen@carnegie.dk
For further information about the Offer, please see: https://www.nykredit.com/en-gb/offer-spar-nord/
This announcement and the Offer Document (with supplements) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.
This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with supplements) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.
Restricted jurisdictions
The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.
Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.
Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Offer Document, supplements or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the laws of such jurisdiction, including securities laws. It is the responsibility of all Persons obtaining this announcement, the Offer Document, supplements, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.
Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Offer Document or supplements to shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable law in any jurisdiction other than Denmark, the United States and the United Kingdom.
Important Information for Shareholders in the United States
The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.
The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice
Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.
In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.
In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.
It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.
The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.
NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.
1 Executive Order no. 636 of 15 May 2020
Attachment
Source: GlobeNewswire (MIL-OSI)
Nykredit announces receipt of approval from the Danish Competition and Consumer Authority, after which all regulatory approvals required to implement the voluntary takeover offer for Spar Nord Bank A/S have been received
NOT FOR DIRECT OR INDIRECT RELEASE, PUBLICATION OR DISTRIBUTION IN OR TO ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBU-TION WOULD BE CONTRARY TO APPLICABLE LEGISLATION OR RULES OF SUCH JURISDICTION
With reference to Spar Nord Bank A/S’ (Spar Nord) company announcement no. 1/2025 concerning publication of the offer document (the Offer Document) in connection with the all-cash voluntary takeover offer from Nykredit Realkredit A/S (Nykredit) for all shares (other than treasury shares held by Spar Nord) in Spar Nord (the Offer), and Spar Nord’s subsequent company announcements regarding Nykredit’s extensions of the offer period, Nykredit has today announced that Nykredit has received the Danish Competition and Consumer Authority’s approval of Nykredit’s acquisition of sole control over Spar Nord pursuant to Chapter 4 of the Com-petition Act.
As a consequence, the last of the regulatory approvals that, pursuant to section 6.16 of the Offer Document, constitute the “Regulatory Condition” for the Offer has been received.
Completion of the Offer remains subject to fulfilment of the remaining conditions set out in section 6.6 of the Offer Document.
The offer period expires on 20 May 2025 at 23:59 (CEST). Nykredit expects to publish an announcement on 21 May 2025 regarding the preliminary calculation of the number of acceptances and to announce whether the Offer will be finalised.
Questions may be directed to Neel Rosenberg (media) on +45 25 27 04 33 or to CFO Rune Brandt Børglum (investors)on +45 96 34 42 36.
Yours faithfully
Spar Nord Bank A/S
The board of directors
Attachments
Source: Palestine Solidarity Network Aotearoa
PSNA says an end to government silence on Israeli genocide in Gaza is overdue, but says New Zealand’s signature on an international declaration is wholly inadequate and too little too late.
Palestine Solidarity Network Aotearoa Co-Chair John Minto says a just released joint statement by 22 foreign ministers, including New Zealand’s, breaks New Zealand’s month’s long silence on Israel’s genocide in Gaza, but falls well short of any means of making Israel comply with international law.
“We don’t need to be told all over again that the resumption of full-scale aid deliveries is vital to avoid wide scale starvation, or that the UN must drive the aid distribution and there is a vital need for a ceasefire.”
“This is just New Zealand dusting off the rhetoric which it issued a year ago – which was completely ignored by Israel.”
Minto says the only promising moves with potential teeth are in a joint statement just issued by the UK, France and Canada.
“At last, some major countries are talking about sanctions,” Minto says.
The triparted statement threatens sanctions against Israel.
“If Israel does not cease the renewed military offensive and lift its restrictions on humanitarian aid, we will take further concrete actions in response.”
They (the three countries) also warned they would be prepared to impose targeted sanctions over attempts to expand settlements in the occupied West Bank.
Minto says over the past few days Israel has been ramping up its assault on Gaza to even higher levels of ferocity.
“It’s time for governments’ words to end, and sanctions to be implemented. A year ago, Canada and New Zealand were issuing joint statements on Gaza, along with Australia.”
“Canada has raised the stakes. New Zealand should move past Canada and implement sanctions immediately.”
https://www.bignewsnetwork.com/news/278229391/joint-donor-statement-on-humanitarian-aid-to-gaza
UK, France and Canada condemn ‘egregious actions’ by Netanyahu’s Israel
John Minto
Co-Chair
Palestine Solidarity Network Aotearoa
Source: Hong Kong Government special administrative region
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Shanghai Commercial Bank Limited relating to fraudulent websites and internet banking login screens, which have been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.
The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the websites or login screens concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.
Source: WTO
Headline: WTO Chairs Programme activities launched at Dominican Republic university
The WTO Chairs Programme (WCP) aims to support and promote trade-related academic activities by universities and research institutions in developing and least-developed WTO member economies. Projects are funded for a period of four years and continue through support from their institutions, members, and other stakeholders that draw on them. The goal of the programme is to build capacity in international trade through research, curriculum development and outreach.
WTO Deputy Director-General Xiangchen Zhang said the key activities of the Universidad Iberoamericana (UNIBE) for the current year will centre on trade and environment sustainability, and in particular finding solutions that reduce plastics pollution.
“This focus is certainly timely and relevant, particularly for an island economy like the Dominican Republic, which must grapple with the effects of climate change,” DDG Zhang said. “As you continue to seek growth while facing the challenges confronting your island economy, the Chair at UNIBE will be a valuable resource in providing tailored research and constructive engagement on key trade issues.”
The WCP is funded by France, Austria and the Republic of Korea. With the addition of this institution, the WCP network has expanded within the Central American region, which was previously under-represented.
Ambassador Emmanuelle Ivanov-Durand, Permanent Representative of France to the WTO, said: “Your work can help us to meet the challenges of our time, particularly in the field of sustainable development, and thereby make the system even more efficient. The courses you will be setting up on trade and environmental sustainability will undoubtedly contribute to our reflection.”
Also present at the event was Ambassador José R. Sánchez-Fung, Permanent Representative of the Dominican Republic to the WTO, who recognized this as an important milestone. “The Dominican Republic welcomes the WCP Chair at UNIBE. The Programme will be instrumental in developing our country’s ability to participate in the global trading system and contribute productively to the rest of the WTO’s membership.”
UNIBE is now part of a global network that facilitates cooperation between governments, universities and multilateral organizations. Vilma Arbaje, Deputy Minister of Foreign Trade at the Dominican Republic’s Ministry of Industry, Commerce and MSMEs, congratulated Odile Camilo, Rector of UNIBE: “The establishment of the WCP Chair at UNIBE consolidates this institution as a regional reference centre in training and research applied to trade and opens up new possibilities for integrating knowledge into the processes of designing and implementing more effective and sustainable public policies for the Ministry of Industry, Trade and MSMEs.
“This collaboration represents a valuable opportunity to expand our institutional capacities, strengthen ties with the academic world and reinforce the country’s projection in spaces for global dialogue on trade,” she added.
During the event, a panel comprising representatives of the government and the Association of Industries of the Dominican Republic discussed the importance of the circular economy in the Dominican Republic, offering insights into its future direction. Changing regulations offer a chance for transformation and concrete opportunities for sustainable and competitive development, participants said.
The industrial sector has already taken steps toward transforming production. Manuel Diaz Franjul, Director of Trade Negotiations for Economic Affairs and International Cooperation, Ministry of Foreign Affairs, said: “As we saw today, trade and the environment and associated policies are a key issue at the international level, and the best way to overcome any differences that arise is through direct engagement.”
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Source: National Ocean Industries Association – NOIA
Headline: NOIA Statement on Lifting of Empire Wind Stop Work Order
For Immediate Release: Monday, May 19, 2025NOIA .org
NOIA Statement on Lifting of Empire Wind Stop Work Order
Washington, D.C. – National Ocean Industries Association (NOIA) President Erik Milito issued the following statement following the decision to lift the stop work order for the Empire Wind project:
“We appreciate the Trump administration’s swift review of the Empire Wind project and engagement with state and local governments and other stakeholders. Lifting the stop work order underscores the project’s critical role in safely advancing American energy, shipbuilding, workforce development, and economic growth.
“The administration is clearing the way for major investments to move forward—activating American shipyards, creating high-quality jobs, and accelerating the buildout of infrastructure needed to deliver reliable, domestic energy to the East Coast. With power demand surging due to AI, data centers, and advanced manufacturing, offshore wind is an important part of an all-of-the-above solution. Companies throughout the supply chain – from Louisiana to Texas to New York – will be able to see the return on their investments.”
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About NOIAThe National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.
Source: European Central Bank
20 May 2025
Euro area current account balance
(EUR billions unless otherwise indicated; working day and seasonally adjusted data)
Source: ECB.
The current account of the euro area recorded a surplus of €51 billion in March 2025, an increase of €10 billion from the previous month (Chart 1 and Table 1). Surpluses were recorded for goods (€44 billion), services (€13 billion) and primary income (€7 billion). These were partly offset by a deficit for secondary income (€13 billion).
Current account of the euro area
Source: ECB.
Note: Discrepancies between totals and their components may be due to rounding.
Data for the current account of the euro area
In the 12 months to March 2025, the current account surplus widened to €438 billion (2.9% of euro area GDP), up from a surplus of €312 billion (2.1% of euro area GDP) one year earlier. This increase was driven by larger surpluses for goods (up from €324 billion to €386 billion), services (up from €133 billion to €173 billion) and primary income (up from €22 billion to €54 billion). The deficit for secondary income increased from €168 billion to €174 billion.
Selected items of the euro area financial account
(EUR billions; 12-month cumulated data)
Source: ECB.
Notes: For assets, a positive (negative) number indicates net purchases (sales) of non-euro area instruments by euro area investors. For liabilities, a positive (negative) number indicates net sales (purchases) of euro area instruments by non-euro area investors.
In direct investment, euro area residents made net investments of €110 billion in non-euro area assets in the 12 months to March 2025, following net disinvestments of €252 billion one year earlier (Chart 2 and Table 2). Non-residents disinvested €101 billion in net terms from euro area assets in the 12 months to March 2025, following net disinvestments of €321 billion one year earlier.
In portfolio investment, euro area residents’ net purchases of non-euro area equity increased to €150 billion in the 12 months to March 2025, up from €91 billion one year earlier. Over the same period, net purchases of non-euro area debt securities by euro-area residents increased to €548 billion, up from €490 billion one year earlier. Non-residents’ net purchases of euro area equity increased to €408 billion in the 12 months to March 2025, up from €170 billion one year earlier. Over the same period, non-residents made net purchases of euro area debt securities amounting to €374 billion, declining from net purchases of €404 billion one year earlier.
Financial account of the euro area
(EUR billions unless otherwise indicated; transactions; non-working day and non-seasonally adjusted data)
Source: ECB.
Notes: Decreases in assets and liabilities are shown with a minus sign. Net financial derivatives are reported under assets. “MFIs” stands for monetary financial institutions. Discrepancies between totals and their components may be due to rounding.
Data for the financial account of the euro area
In other investment, euro area residents recorded net acquisitions of non-euro area assets amounting to €365 billion in the 12 months to March 2025 (up from €128 billion one year earlier), while they recorded net incurrences of liabilities of €77 billion (following net disposals of €144 billion one year earlier).
Monetary presentation of the balance of payments
(EUR billions; 12-month cumulated data)
Source: ECB.
Notes: “MFI net external assets (enhanced)” incorporates an adjustment to the MFI net external assets (as reported in the consolidated MFI balance sheet items statistics) based on information on MFI long-term liabilities held by non-residents, available in b.o.p. statistics. B.o.p. transactions refer only to transactions of non-MFI residents of the euro area. Financial transactions are shown as liabilities net of assets. “Other” includes financial derivatives and statistical discrepancies.
The monetary presentation of the balance of payments (Chart 3) shows that the net external assets (enhanced) of euro area MFIs increased by €405 billion in the 12 months to March 2025. This increase was driven by the current and capital accounts surplus and, to a lesser extent, by euro area non-MFIs’ net inflows in portfolio investment equity and debt. These developments were partly offset by euro area non-MFIs’ net outflows in direct investment and other flows.
In March 2025 the Eurosystem’s stock of reserve assets increased to €1,511.0 billion up from €1,478.6 billion in the previous month (Table 3). This increase was mainly driven by positive price changes (€48.0 billion), due to an increase in the price of gold, and partly offset by negative exchange rate changes (€14.7 billion) and net sales of assets (€0.8 billion).
Reserve assets of the euro area
(EUR billions; amounts outstanding at the end of the period, flows during the period; non-working day and non-seasonally adjusted data)
Source: ECB.
Notes: “Other reserve assets” comprises currency and deposits, securities, financial derivatives (net) and other claims. Discrepancies between totals and their components may be due to rounding.
Data for the reserve assets of the euro area
Data revisions
This press release incorporates revisions to the data for January 2025 and February 2025. These revisions did not significantly alter the figures previously published.
Next releases:
For media queries, please contact Benoît Deeg, tel.: +49 172 1683704.
Source: Thales Group
Headline: 2025 Thales Data Threat Report Reveals Nearly 70% of Organizations Identify AI’s Fast-Moving Ecosystem as Top GenAI-Related Security Risk
Thales today announced the release of the 2025 Thales Data Threat Report, its annual report on the latest data security threats, trends, and emerging topics based on a survey conducted by S&P Global Market Intelligence 451 Research of more than 3,100 IT and security professionals in 20 countries across 15 industries. This year’s report found that nearly 70% of organizations view the rapid pace of AI development1—particularly in generative AI—as the leading security concern related to its adoption, followed by lack of integrity (64%) and trustworthiness (57%).
The 2025 Thales Data Threat Report results reveal a major focus on the transformative impact of AI, especially GenAI, which relies heavily on high-quality, sensitive data for functions like training, inference, and content generation. As agentic AI emerges, ensuring data quality becomes even more critical for enabling sound decision-making and actions by AI systems. Many organizations are already adopting GenAI, with a third of respondents indicating it is either being integrated or is actively transforming their operations.
Organizations Embrace GenAI, Taking on Greater Security Risks Amid Rapid Adoption
As GenAI introduces complex data security challenges and offers strategic opportunities to strengthen defenses, its growing integration marks a shift among organizations from experimentation to more mature, operational deployment. While most respondents said rapid adoption of GenAI is their top security concern, respondents in the more advanced stages of AI adoption aren’t waiting to fully secure their systems or optimize their tech stacks before forging ahead. Because the drive to achieve rapid transformation often outweighs efforts to strengthen organizational readiness, these organizations may be inadvertently creating their own biggest security vulnerabilities.
“The fast-evolving GenAI landscape is pressuring enterprises to move quickly, sometimes at the cost of caution, as they race to stay ahead of the adoption curve,” Eric Hanselman, Chief Analyst at S&P Global Market Intelligence 451 Research, said. “Many enterprises are deploying GenAI faster than they can fully understand their application architectures, compounded by the rapid spread of SaaS tools embedding GenAI capabilities, adding layers of complexity and risk.”
Seventy-three percent of respondents report investing in AI-specific security tools, either through new budgets or by reallocating existing resources. Those prioritizing AI security are diversifying their approaches: over two-thirds have acquired tools from their cloud providers, three in five are leveraging established security vendors, and nearly half are turning to new or emerging startups. Notably, security for generative AI has quickly risen as a top spending priority, securing the second spot in ranked-choice voting, just behind cloud security. This shift underscores the growing recognition of AI-driven risks and the need for specialized defenses to mitigate them.
Data Breaches Show Modest Decline, Though Threats Remain Elevated
While data breaches remain a significant concern, their frequency has slightly decreased over the past few years. In 2021, 56% of surveyed enterprises reported experiencing a breach, but that figure has dropped to 45% in 2025. Additionally, the percentage of respondents reporting a breach within the last 12 months has fallen from 23% in 2021 to just 14% in 2025.
Malware continues to lead as the most prevalent threat, maintaining its top position since 2021. Phishing climbed to second place, overtaking ransomware, which now ranks third. When it comes to the most concerning threat actors, external sources dominate—hacktivists hold the top spot, followed by nation-state actors. Human error, while still significant, has dropped to third, down one position from the previous year.
Vendors Pressed on Post-Quantum Readiness as Encryption Strategies Are Reassessed
The 2025 Thales Data Threat Report reveals that most organizations are increasingly concerned about quantum-related security risks. The top threat, cited by 63% of respondents, is future encryption compromise—the risk that quantum computers could eventually break current or future encryption algorithms, exposing data once considered secure. Close behind, 61% identified key distribution vulnerabilities, where quantum advancements could undermine the secure exchange of encryption keys. Additionally, 58% highlighted the “harvest now, decrypt later” (HNDL) threat, where encrypted data intercepted today could be decrypted in the future. In response, half of organizations are assessing their encryption strategies, and 60% are actively prototyping or evaluating post-quantum cryptography (PQC) solutions. Only one-third, however, are placing their trust in telecom or cloud providers to manage the transition.
“The clock is ticking on post-quantum readiness. It’s encouraging that three out of five organizations are already prototyping new ciphers, but deployment timelines are tight and falling behind could leave critical data exposed,” Todd Moore, Global Vice President, Data Security Products at Thales, said. “Even with clear timelines for transitioning to PQC algorithms, the pace of encryption change has been slower than expected due to a mix of legacy systems, complexity, and the challenge of balancing innovation with security.”
While this year’s survey results indicate improvements in security posture, much more is needed to elevate operational data security to fully support the capabilities of emerging technologies such as GenAI and to pave the way for future innovations.
For more information please join our webinar hosted by Eric Hanselman, Chief Analyst at S&P Global 451 Research.
1 This finding relates to the fast changes in the GenAI ecosystem which encompasses the full set of vendors and technologies in GenAI.
About Thales
Thales (Euronext Paris: HO) is a global leader in advanced technologies for the Defence, Aerospace, and Cyber & Digital sectors. Its portfolio of innovative products and services addresses several major challenges: sovereignty, security, sustainability and inclusion.
The Group invests more than €4 billion per year in Research & Development in key areas, particularly for critical environments, such as Artificial Intelligence, cybersecurity, quantum and cloud technologies.
Thales has more than 83,000 employees in 68 countries. In 2024, the Group generated sales of €20.6 billion.
Source: European Investment Bank
The European Union agricultural sector loses more than €28 billion a year, on average, as a result of adverse weather such as droughts and the EU can do more to reduce such business risks, including by expanding farm insurance, according to a groundbreaking new study.
The analysis, published jointly today by the European Investment Bank (EIB) and the European Commission, says that worsening climate change threatens to increase EU agricultural average annual losses as much as 66% by 2050, and urges a stronger EU risk-management system for the sector.
Only 20% to 30% of climate-induced farm losses in the EU are insured through public, private or mutual systems including those supported by Europe’s Common Agricultural Policy (CAP). Insurance coverage backed by public funding is often more effective than government compensation programmes, according to the study.
“Climate-related risks are an increasing source of uncertainty for food production. Mitigating these risks through insurance and de-risking mechanisms is essential to support the investments of European farmers,” said EIB Vice-President Gelsomina Vigliotti. “The findings of this analysis will guide our future action as we step up support to bolster the resilience of the EU’s agricultural system.”
The EIB Group to date has supported the EU farm industry in three main ways. One is loans and guarantees to agricultural businesses or equity stakes in them. The second is the financing of rural infrastructure such as irrigation and roads. The third is advice to public authorities and financial institutions on how EU farm grants can be used to attract funding from other sources and to limit risks included those related to climate.
Commissioner for agriculture and food, Christophe Hansen, said: “Climate change and its consequences could restrict farmers’ access to finance, as banks could become even more reluctant to take risks than they are today. The study we are publishing today with the EIB shows that only 20% to 30% of climate-related losses are insured by public, private or mutual systems. We need to do something to cover the remaining losses. I encourage all Member States to assess and launch new financial instruments under their CAP Strategic Plans, to better prevent climate risks in the agricultural sector. I also welcome the work of the EIB Group, which is playing a key role in mobilising capital to ensure the long-term resilience of the EU’s agri-food sector.”
The new study is the first-of-its-kind analysis of agriculture-insurance schemes across the EU. It was commissioned by the Commission’s Directorate-General for Agriculture and carried out by EIB Advisory, under the fi-compass platform, with the support of the global insurance intermediary group Howden.
Publication of the report coincides with an EIB-Commission conference in Brussels on Insurance and access to finance for farm resilience and adaptation in the EU.
Across the 27-nation EU, climate-induced losses for the agricultural sector average €28.3 billion a year, according to the study. That’s around 6% of annual EU crop and livestock production.
Global warming threatens to cause greater volatility in EU agricultural yields and more instability in European farm incomes, with projected losses rising between 42% and 66% by mid-century, according to the report.
It examines the broad impact of weather on agriculture and explores options for expanding farm insurance in Europe and for encouraging the sector to reduce risks through climate adaptation.
Main recommendations in the report include:
Background information
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
All projects financed by the EIB Group are aligned with the Paris Climate Agreement, as set out in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects that contribute directly to climate change mitigation, adaptation and a healthier environment.
In addition to financing, the EIB offers advisory services that help public and private partners develop and implement high-quality, investment-ready projects. In 2024 alone, EIB advisory teams helped mobilise over 200 billion of investment across Europe and beyond.
High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.
About fi-compass
Delivered by EIB Advisory, fi-compass is a unique advisory platform established by the European Commission in partnership with the European Investment Bank (EIB). It is designed to support EU Member States and their managing authorities in the implementation of financial instruments under the European Shared Management Funds for Cohesion and Agriculture policy. The platform provides comprehensive guidance, practical know-how, and learning tools on financial instruments, helping to enhance the effectiveness and efficiency of public investments.
About Howden
Howden is a global insurance intermediary group with employee ownership at its heart. Founded in 1994, it provides insurance broking, reinsurance broking and underwriting services and solutions to clients ranging from individuals to the largest multinational companies.
The group operates in 55 countries across Europe, Africa, Asia, the Middle East, Latin America, the USA, Australia and New Zealand, employing 22,000 people and handling $45bn of premium on behalf of clients.
Translation. Region: Russian Federal
Source: Mainfin Bank –
The integration of the MIR payment system from the Russian Federation and Shetab from Iran has been ongoing in recent years – within the framework of an agreement signed by the heads of the central banks of the states. The interaction takes place in three stages:
In the summer of 2024, Shetab cardholders were given the opportunity to withdraw money from self-service terminals in Russia; now Russians can make purchases at cards MIR in Iran, but in a limited number of locations – where Spaparak terminals are installed; in the near future, Iranians will also be able to pay for purchases with their cards in the Russian Federation.
Acceptance of Russian cards in Iran is available for MIR plastic with contactless payment function – transactions via NFC (payment by smartphone) also work. For small purchases, entering a PIN code is not required.
The geography of MIR cards has been steadily expanding since the departure of key payment systems from Russia – unconditional acceptance of plastic is available in Belarus, Abkhazia, Ossetia, and Cuba (they are planning to issue MIR cards on the island). Plastic is accepted with restrictions in a number of CIS countries, as well as in popular destinations among Russian tourists, including Vietnam, Laos, and the Maldives.
“Given the difficult geopolitical situation, tourists traveling abroad are advised to stock up on cash and purchase “All Inclusive” tours in order to protect themselves as much as possible from possible financial problems with Russian cards,” the expert noted.
At the same time, in 2024, due to the risk of secondary sanctions, several countries refused to work with the NPS “MIR”, including Kyrgyzstan, South Korea, Uzbekistan and Turkey. Negotiations on the possible integration of payment systems are ongoing with India, Indonesia, Mexico, Egypt and Thailand.
09:45 05/20/2025
Source:
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
https://mainfin.ru/novosti/mir-teper-iv-irane-geografia-raboty-kart-rossijskoj-plateznoj-sistemy-rassirilas
Source: People’s Republic of China – State Council News
China’s market-based benchmark lending rates declined on Tuesday in the latest sign that the authorities are ramping up efforts to bolster economic momentum.
The one-year loan prime rate (LPR) went down to 3 percent from the previous reading of 3.1 percent, while the over-five-year LPR, on which many lenders base their mortgage rates, was lowered to 3.5 percent from 3.6 percent, according to the National Interbank Funding Center.
Tuesday’s LPR decline — the first this year — is expected to further reduce the borrowing costs of businesses and individuals, improve market confidence, and support the steady growth of the real economy.
Analysts said the lowered interest rates sent a clear signal that China is resolved to stabilize the market and expectations amid global uncertainties.
LPRs are used to price a wide range of lending rates, from consumer loans to business loans and mortgages. Lower rates will ease the burden on borrowers, leading to more investment and consumption.
For a standard commercial housing loan of 1 million yuan (nearly 140,000 U.S. dollars) over 30 years, the latest LPR adjustment could save borrowers over 50 yuan in monthly interest payments, translating into nearly 20,000 yuan in total interest savings over the life of the loan.
The lowering of the LPR was widely anticipated by the market. At a press conference on May 7, Pan Gongsheng, the governor of the People’s Bank of China, announced a 0.1-percentage point cut in the policy rate. The following day, the central bank reduced the seven-day reverse repo rate to 1.4 percent, paving the way for the subsequent decline in the LPR.
The falling interest rates came as part of China’s efforts to implement a moderately loose monetary policy this year. Authorities have on multiple occasions pledged timely cuts in the reserve requirement ratios and interest rates to maintain sufficient liquidity and support the economy.
In April, the average weighted interest rate on newly issued corporate loans stood at about 3.2 percent, down 50 basis points from a year earlier. Meanwhile, the average rate on new residential mortgages dropped to around 3.1 percent, a 55-basis-point decline. Both rates marked historic lows.
The downward trend is mirrored on the deposit side as well. Major commercial banks on Tuesday announced reductions in deposit interest rates. The one-year fixed-term deposit interest rate was lowered by 15 basis points to 0.95 percent. The rates also came to 1.05 percent for two years, 1.25 percent for three years, and 1.3 percent for five years.
Tian Xuan, president of the National Institute of Financial Research of Tsinghua University, said the reduction in both lending and deposit rates will stimulate demand for credit, drive consumption and investment, and inject new vitality into China’s economic recovery.
Official data showed the Chinese economy maintained stable development in the first four months of this year, with faster growth in retail sales of consumer goods, a robust service sector, resilient imports and exports, and steady fixed-asset investment and industrial output.
Source: ASEAN
Secretary-General of ASEAN, Dr. Kao Kim Hourn, today participated in the Special ASEAN Economic Ministers – Ministry of Commerce (Special AEM-MOFCOM) Consultation, conducted via videoconference.
The Meeting exchanged views on the current global economic developments and their implications for regional economic integration. The Meeting reaffirmed a strong commitment to upholding a rules-based multilateral trading system, maintaining constructive engagements to address trade-related issues, and to de-escalate trade tensions. The Meeting also discussed strategic measure to advance ASEAN-China economic cooperation with a view to fostering stronger economic relations.
The post Secretary-General of ASEAN attends the Special AEM-MOFCOM Consultation via videoconference appeared first on ASEAN Main Portal.
Source: ASEAN
Secretary-General of ASEAN, Dr. Kao Kim Hourn participated in the Special ASEAN Economic Ministers – Closer Economic Relations (Special AEM-CER) Consultation, held via videoconference, on 20 May 2025.
The Meeting exchanged views on the recent global economic developments and reaffirmed commitment to upholding rules-based multilateral trading system as a cornerstone for addressing emerging trade-related challenges concerns. The Meeting welcomed the entry into force of the Second Protocol to Amend the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), reflecting the collective resolve of ASEAN, Australia, and New Zealand to navigate current regional and global economic challenge.
The post Secretary-General of ASEAN attends the Special AEM-CER Consultation via videoconference appeared first on ASEAN Main Portal.
Source: ASEAN
Secretary-General of ASEAN, Dr. Kao Kim Hourn, today hosted a luncheon for the Committee of Permanent Representatives to ASEAN (CPR), which brought together the Permanent Representatives of ASEAN Member States and the Ambassador of Timor-Leste to ASEAN. The Luncheon served as an opportunity to exchange views on ASEAN Community-building efforts and ASEAN’s external relations, including preparations for the upcoming 46th ASEAN Summit, 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and ASEAN-GCC-China Economic Summit to be convened in Kuala Lumpur, Malaysia, on 26–27 May 2025.
Source: Hong Kong Government special administrative region
Fraudulent website and internet banking login screen related to Fubon Bank (Hong Kong) Limited
The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the website or login screen concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.
Issued at HKT 15:00
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Source: European Central Bank
20 May 2025
Euro area current account balance
(EUR billions unless otherwise indicated; working day and seasonally adjusted data)
Source: ECB.
The current account of the euro area recorded a surplus of €51 billion in March 2025, an increase of €10 billion from the previous month (Chart 1 and Table 1). Surpluses were recorded for goods (€44 billion), services (€13 billion) and primary income (€7 billion). These were partly offset by a deficit for secondary income (€13 billion).
Current account of the euro area
Source: ECB.
Note: Discrepancies between totals and their components may be due to rounding.
Data for the current account of the euro area
In the 12 months to March 2025, the current account surplus widened to €438 billion (2.9% of euro area GDP), up from a surplus of €312 billion (2.1% of euro area GDP) one year earlier. This increase was driven by larger surpluses for goods (up from €324 billion to €386 billion), services (up from €133 billion to €173 billion) and primary income (up from €22 billion to €54 billion). The deficit for secondary income increased from €168 billion to €174 billion.
Selected items of the euro area financial account
(EUR billions; 12-month cumulated data)
Source: ECB.
Notes: For assets, a positive (negative) number indicates net purchases (sales) of non-euro area instruments by euro area investors. For liabilities, a positive (negative) number indicates net sales (purchases) of euro area instruments by non-euro area investors.
In direct investment, euro area residents made net investments of €110 billion in non-euro area assets in the 12 months to March 2025, following net disinvestments of €252 billion one year earlier (Chart 2 and Table 2). Non-residents disinvested €101 billion in net terms from euro area assets in the 12 months to March 2025, following net disinvestments of €321 billion one year earlier.
In portfolio investment, euro area residents’ net purchases of non-euro area equity increased to €150 billion in the 12 months to March 2025, up from €91 billion one year earlier. Over the same period, net purchases of non-euro area debt securities by euro-area residents increased to €548 billion, up from €490 billion one year earlier. Non-residents’ net purchases of euro area equity increased to €408 billion in the 12 months to March 2025, up from €170 billion one year earlier. Over the same period, non-residents made net purchases of euro area debt securities amounting to €374 billion, declining from net purchases of €404 billion one year earlier.
Financial account of the euro area
(EUR billions unless otherwise indicated; transactions; non-working day and non-seasonally adjusted data)
Source: ECB.
Notes: Decreases in assets and liabilities are shown with a minus sign. Net financial derivatives are reported under assets. “MFIs” stands for monetary financial institutions. Discrepancies between totals and their components may be due to rounding.
Data for the financial account of the euro area
In other investment, euro area residents recorded net acquisitions of non-euro area assets amounting to €365 billion in the 12 months to March 2025 (up from €128 billion one year earlier), while they recorded net incurrences of liabilities of €77 billion (following net disposals of €144 billion one year earlier).
Monetary presentation of the balance of payments
(EUR billions; 12-month cumulated data)
Source: ECB.
Notes: “MFI net external assets (enhanced)” incorporates an adjustment to the MFI net external assets (as reported in the consolidated MFI balance sheet items statistics) based on information on MFI long-term liabilities held by non-residents, available in b.o.p. statistics. B.o.p. transactions refer only to transactions of non-MFI residents of the euro area. Financial transactions are shown as liabilities net of assets. “Other” includes financial derivatives and statistical discrepancies.
The monetary presentation of the balance of payments (Chart 3) shows that the net external assets (enhanced) of euro area MFIs increased by €405 billion in the 12 months to March 2025. This increase was driven by the current and capital accounts surplus and, to a lesser extent, by euro area non-MFIs’ net inflows in portfolio investment equity and debt. These developments were partly offset by euro area non-MFIs’ net outflows in direct investment and other flows.
In March 2025 the Eurosystem’s stock of reserve assets increased to €1,511.0 billion up from €1,478.6 billion in the previous month (Table 3). This increase was mainly driven by positive price changes (€48.0 billion), due to an increase in the price of gold, and partly offset by negative exchange rate changes (€14.7 billion) and net sales of assets (€0.8 billion).
Reserve assets of the euro area
(EUR billions; amounts outstanding at the end of the period, flows during the period; non-working day and non-seasonally adjusted data)
Source: ECB.
Notes: “Other reserve assets” comprises currency and deposits, securities, financial derivatives (net) and other claims. Discrepancies between totals and their components may be due to rounding.
Data for the reserve assets of the euro area
Data revisions
This press release incorporates revisions to the data for January 2025 and February 2025. These revisions did not significantly alter the figures previously published.
Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra
The Reserve Bank of Australia cut the official interest rate for the second time this year, as it lowered forecasts for Australian economic growth and pointed to increasing uncertainty in the world economy.
The bank lowered the cash rate target by 0.25%, from 4.1% to 3.85%, saying inflation is expected to remain in the target band.
All the big four banks swiftly passed the cut on to households with mortgages. This will save a household with a $500,000 loan about $80 a month.
Announcing the cut, the Reserve Bank stressed in its accompanying statement it stands ready to reduce rates again if the economic outlook deteriorates sharply.
The Board considered a severe downside scenario and noted that monetary policy is well placed to respond decisively to international developments if they were to have material implications for activity and inflation in Australia.
The latest Consumer Price Index showed that inflation remained around the middle of the Reserve Bank’s medium-term target band of 2-3% in the March quarter.
The Reserve Bank was also comforted by the underlying inflation measure called the “trimmed mean”. This measure excludes items with the largest price movements up or down.
The bank noted that it has returned to the 2–3% target band for the first time since 2021. This suggests inflation is not just temporarily low due to temporary factors such as the electricity price rebates.
Read more:
Inflation is easing, boosting the case for another interest rate cut in May
In February, Reserve Bank Governor Michele Bullock conceded the bank had arguably been “late raising interest rates on the way up”. It did not want to be late on the way down.
Perhaps Bullock is being unduly modest. The central bank looks to have judged well the extent of monetary tightening. It did not raise interest rates as much as its peers, but still got inflation back to the target.
Last week, we got an update on the strength of the labour market. Unemployment stayed at 4.1%. It has now been around 4% since late 2023, a remarkable achievement.
This is below the 4.5% the Reserve Bank had regarded as the level consistent with steady inflation (in economic jargon, the NAIRU). But neither prices nor wages have accelerated.
In its updated forecasts, the bank sees headline inflation dropping to 2.1% by mid-year but going back to 3.0% by the end of the year, as the electricity subsidies are removed. By mid-2027, it will be back near the middle of the 2-3% target.
Underlying inflation is forecast to stay around the middle of the target band throughout.
The Reserve Bank cut its forecast for gross domestic product (GDP) to 2.1% by December, down from its previous forecast of 2.4% made in February. It said:
Economic policy uncertainty has increased sharply alongside recent global developments, and this is expected to prompt some households to increase their precautionary savings and some businesses to postpone some investment decisions.
The unemployment rate is expected to increase to 4.3% by the end of the year and remain there through 2026.
Cost of living pressures look set to ease, as real household disposable income grows faster than population.
As the Reserve Bank governor told a media conference on Tuesday:
There’s now a new set of challenges facing the economy, but with inflation declining and the unemployment rate relatively low, we’re well positioned to deal with them. The board remains prepared to take further action if that is required.
The main uncertainty in the global economy is how the trade war instigated by US President Donald Trump will play out. According to one count, he has announced new or revised tariff policies about 50 times.
“The outlook for the global economy has deteriorated since the February statement. This is due to the adverse impact on global growth from higher tariffs and widespread economic and policy unpredictability,” the bank noted.
The US tariff pauses on the highest rates on China and most other nations are due to be in place for 90 days. But more measures may be announced before then.
This uncertainty is likely to be stifling trade, and even more so investment decisions by companies in the face of rapidly changing policies. And it will weaken the global economy.
In her press conference, Bullock said the board’s judgement was that “global trade developments will overall be disinflationary for Australia”. Not only is the global outlook weaker, but some goods no longer being sold to the US could be diverted to Australia.
The Reserve Bank’s updated forecasts assume interest rates will fall further, to 3.4% by the end of the year.
But this is just a reflection of what financial markets are implying. It is not necessarily what the bank itself expects to do. It is certainty not a promise of what they will do.
But the Reserve Bank still regards its stance as “restrictive”, or weighing on growth. So if it continues to believe inflation will stay within the target band, or the global outlook deteriorates, it will cut rates further.
John Hawkins was formerly a senior economist with the Reserve Bank.
– ref. RBA cuts interest rates, ready to respond again if the economy weakens further – https://theconversation.com/rba-cuts-interest-rates-ready-to-respond-again-if-the-economy-weakens-further-256798
Source: Peoples Bank of China
Announcement on Open Market Operations No.94 [2025]
(Open Market Operations Office, May 20, 2025)
The People’s Bank of China conducted reverse repo operations in the amount of RMB357 billion through quantity bidding at a fixed interest rate on May 20, 2025.
Details of the Reverse Repo Operations
|
Maturity |
Rate |
Bidding Volume |
Winning Bid Volume |
|
7 days |
1.40% |
RMB357 billion |
RMB357 billion |
Date of last update Nov. 29 2018
2025年05月20日
Source: GlobeNewswire (MIL-OSI)
Municipality Finance Plc
Stock exchange release
20 May 2025 at 10:00 am (EEST)
Municipality Finance issues a USD 100 million tap under its MTN programme
On 21 May 2025 Municipality Finance Plc issues a new tranche in an amount of USD 100 million to an existing benchmark issued on 22 January 2025. With the new tranche, the aggregate nominal amount of the benchmark is USD 500 million. The maturity date of the benchmark is 2 February 2029. The benchmark bears interest at a floating rate equal to Compounded SOFR plus 100 bps per annum.
The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the benchmark are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.
MuniFin has applied for the benchmark to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 21 May 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.
Bank of Montreal Europe PLC act as the Dealer for the issue of the new tranche.
MUNICIPALITY FINANCE PLC
Further information:
Joakim Holmström
Executive Vice President, Capital Markets and Sustainability
tel. +358 50 444 3638
MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.
MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.
MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.
Read more: www.munifin.fi
Important Information
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, May 20 (Xinhua) — China’s top commercial banks on Tuesday announced the first cut in deposit interest rates in 2025.
The interest rate on one-year term deposits has been cut by 15 basis points to 0.95 percent, according to reports from the Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China and China Merchants Bank.
After adjustment, the rates on term deposits for two years, three years and five years are 1.05%, 1.25% and 1.3%, respectively.
Prior to this, commercial banks reduced interest rates on deposits twice, in July and October last year.
Also on Tuesday, China cut its benchmark lending rates: The benchmark interest rate (LPR) for one-year loans fell to 3 percent from 3.1 percent, and the LPR for loans longer than five years, which many lenders use to set their mortgage rates, was cut to 3.5 percent from 3.6 percent. -0-
Source: GlobeNewswire (MIL-OSI)
SOCIETE GENERALE LAUNCHES A NEW GLOBAL EMPLOYEE SHARE OWNERSHIP PROGRAMME
Press release
Paris, 20 May 2025
Societe Generale confirms the launch of a new global employee share ownership programme allowing eligible employees and retired former employees of the Group to subscribe for a capital increase reserved for them on preferential terms. The subscription period for the share offer will take place from 2 to 16 June (inclusive).
The settlement-delivery of the shares should take place on 24 July 2025.
The terms of this transaction are described in the information document provided below.
This transaction implements the 27th resolution of the General Meeting held on 22 May 2024. The principle of this operation, approved by the Board of Directors on 5 February 2025, was made public in page 15 of the Board of Directors’ report on the resolutions submitted to the General Meeting of 20 May 2025 and, before that, in the table of financial authorisations provided in section 3.1.7 of the Universal Registration Document dated 12 March 2025 which has been updated, on pages 58 to 59 of the Convening Brochure, relating to the General Meeting of 20 May 2025, which was published on 14 April 2025.
Employee share ownership is a long-term collective commitment mechanism regularly implemented within Societe Generale to involve employees in the development of the company and to enable them to benefit from long-term value creation.
The 2025 programme is the 32nd offered by the Group.
Press contacts:
Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com
20 May 2025
INFORMATION DOCUMENT
PROVIDED FOR EMPLOYEES AND RETIRED FORMER EMPLOYEES
OF THE SOCIETE GENERALE GROUP
PERTAINING TO A CAPITAL INCREASE IN CASH TARGETING A MAXIMUM OF 12,044,800 SHARES RESERVED FOR ELIGIBLE EMPLOYEES AND RETIRED FORMER EMPLOYEES PARTICIPATING IN SOCIETE GENERALE GROUP COMPANY
OR GROUP SAVINGS PLANS
2025 GROUP EMPLOYEE SHARE OWNERSHIP PROGRAMME (2025 GESOP)
| This information document is available at Societe Generale’s administrative office (17 cours Valmy – 92972 Paris-La Défense Cedex), on its website and its intranet site, and was covered by a press release dated 20 May 2025.
This document is prepared in accordance with the prospectus publication exemptions provided for in Article 1.4°(i) and Article 1.5°(h) of Prospectus Regulation (EU) No. 2017/1129. It constitutes the document required to meet the conditions for exemption from publication of a prospectus as defined by said Prospectus Regulation, directly applicable in the domestic law of each Member State of the European Union. |
MAIN CHARACTERISTICS OF THE CAPITAL INCREASE IN CASH RESERVED FOR ELIGIBLE EMPLOYEES AND RETIRED FORMER EMPLOYEES PARTICIPATING IN SOCIETE GENERALE GROUP COMPANY OR GROUP SAVINGS PLANS
| ISSUER | Societe Generale,
French public limited company (société anonyme), Share capital: EUR 1,000,395,971.25 Registered office: 29, boulevard Haussmann – 75009 PARIS Paris Trade and Companies Register No. 552 120 222 Euronext Paris – Compartment A Ordinary share ISIN code: FR0000130809 Share admitted to Deferred Settlement Service |
| Securities offered | The maximum overall nominal amount of the capital increase is set at EUR 15,056,000, corresponding to the issue of 12,044,800 shares available for subscription in cash.
The capital increase is sub-divided into two (2) tranches using separate investment vehicles, respectively accessible to separate entities or groups of entities. The Societe Generale shares to be issued will be of the same class and will be equivalent to Societe Generale shares already admitted to trading on Euronext Paris (Compartment A). |
| Reasons for the offer | The 2025 Group Employee Share Ownership Programme falls within the scope of the Societe Generale Group employee share ownership policy, both in France and internationally, allowing beneficiaries to become involved in the Group’s operations by participating, through this investment, in the development of Societe Generale, by expressing their voting rights and participating in the General Meeting. |
| Terms of subscription | The shares will be available for subscription through employee mutual fund (“FCPE”) in France and directly via the acquisition of registered shares outside France.
Method for determining the subscription price The subscription price of EUR 35.76 is equal to the arithmetic average of the 20 (twenty) volume-weighted average prices recorded each day on the Euronext Paris regulated stock market at the end of each of the 20 (twenty) trading sessions preceding the morning of 19 May 2025 (date of the decision of the Chief Executive Officer, setting the subscription period and the subscription price and acting on the sub-delegation of the Board of Directors at its meeting of 5 February 2025 using the authorization granted to the Board by the twenty-seven resolution of the Combined General Meeting of 22 May 2024), with the application of a 20% discount. Duration of subscription period The subscription period will begin on Monday 2nd June 2025 at 10:00 a.m. (Paris time) and will end on Monday 16th June 2025 at 11:59 p.m. (Paris time). |
| Terms of subscription for shares
The first (1st) tranche is subscribed through the Employee Mutual Funds under Company or Group Savings Plans. The second (2nd) tranche is directly subscribed by employees under the International Group Savings Plan. Beneficiaries of the offer This offer is reserved for employees with seniority of at least three (3) months, holding an employment contract in effect at the end of the subscription period, broken down as follows:
|
|
| As regards the first tranche, former employees having left their company after retiring, with this category including pre-retirees, and having retained assets in the Company or Group Savings Plans, may also take part in this reserved capital increase. | |
| Subscription limit
In accordance with Article L. 3332-10 of the French Labour Code, the total amount of payments made by Beneficiaries (including payments into other Savings Plans) may not exceed 25% of their gross annual remuneration received during the year of subscription or, for Beneficiaries whose employment contract is suspended and who received no remuneration for the year of subscription, 25% of the annual limit provided for in Article L. 241-3 of the French Social Security Code. At its meeting of 5 February 2025, the Board of Directors decided that the total amount of a given Beneficiary’s individual subscription (which may consist of a voluntary payment, including the transfer of available assets, as well as the net amounts of profit-sharing and employer matching contribution (not applicable to retirees)) may not exceed EUR 20,000. Employer matching contribution Employer matching contribution rules are specific to each Company or Group Savings Plan and each participating entity. |
|
| Transaction timetable | Subscription will be open from Monday 2nd June 2025 at 10:00 a.m. (Paris time) to Monday 16th June 2025 at 11:59 p.m. (Paris time). The capital increase is scheduled for 24 July 2025. |
| Listing of new shares | Listing market
Societe Generale shares are listed on Euronext Paris (deferred settlement service, continuous trading group A, ISIN code FR0000130809). |
| Listing of new shares
The listing of the new shares on Euronext Paris will be requested immediately after the completion of the capital increase (the listing should be effective on or around 29 July 2025). |
|
| General information on new shares subject to a request for admission to trading | Rights attached to shares issued
As soon as they are created, the new shares will be subject to all the provisions of the Issuer’s Articles of Association and will bear dividends rights as of 1 January 2025. As a result, they will be fully assimilated with the existing shares and will entitle the shareholders of a public limited company to the associated legal prerogatives. In particular, they will entitle shareholders to ownership of the company’s assets and the liquidation surplus, in a proportion equal to the percentage of share capital they represent. Similarly, the dividend is distributed to shareholders in proportion to their shareholding. A double voting right, in proportion to the capital represented, is allocated to all fully paid-up shares registered in the name of the same shareholder, for at least two years, as well as to new registered shares granted free of charge to a shareholder, in the event of a capital increase through the incorporation of reserves, profits or issue premiums, in respect of shares entitled thereto. In accordance with Article L. 214-165 II, paragraph 3, of the French Monetary and Financial Code, the voting rights attached to Societe Generale shares subscribed via the FCPE will be exclusively exercised individually by the unitholders of said FCPE and, for fractional units, by the supervisory board of said FCPE. In the event of a public purchase or exchange offer, the supervisory board of the FCPE decide, based on the relative majority of the votes cast, whether or not to tender Societe Generale shares to the offer. If there is no relative majority, the decision is put to the vote of the unitholders, who decide based on the relative majority of the votes cast. Marketability of shares No clauses in the Articles of Association limit the free marketability of the shares comprising Societe Generale’s capital. Only the rules below governing the unavailability of shares under a Company or Group Savings Plan will limit the marketability of said shares. |
| Unavailability | Shares held directly by the Beneficiaries and units of the employee mutual fund, as applicable, will be unavailable for a period of 5 years, barring cases of early release subject to the conditions applicable to the Company or Group Savings Plan in question. As regards the 2nd tranche, in some countries, depending on local legislation, some cases of early release will not be open to employees. |
| Specific disclaimer for international subscriptions | This document constitutes neither an offer to sell nor a solicitation to subscribe for Societe Generale shares. The Societe Generale share offer reserved for eligible current employees and retired former employees participating in Societe Generale Group Company or Group Savings Plans will only be implemented in countries where such an offer has been registered with the relevant local authorities and/or with the approval of a prospectus by the competent local authorities, or in consideration of an exemption from the obligation to establish a prospectus or register the offer. More generally, the offer will only be made in countries where all required registration procedures and/or notifications have been made and the proper authorisations obtained, except for the exemptions mentioned above. This document is not intended for countries in which such a prospectus would not have been approved or such an exemption would not be available, or in which all required registration and/or notification procedures have not yet been made or the proper authorisations obtained, and copies of this document should not be sent in such countries.
With respect to the United States of America in particular, the shares referred to in this document have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”) and may not be offered or sold in the United States without registration or exemption from registration in accordance with the Securities Act. Societe Generale does not intend to register the offer, in part or in whole, in the United States, or to make public share offers in the United States. The shares will be offered only for transactions benefiting from an exemption from registration. Due to the sanctions imposed by the European Union, this offer is not open to citizens or residents of Russia who do not have a residence permit in or are not nationals of a European Union country, of a country member of the European Economic Area or of Switzerland, or to citizens or residents or Belarus who do not have a residence permit in or are not nationals of a European Union country. |
| Employee contact | Beneficiaries may address any questions relating to this offer to the contact indicated in the subscription application provided to them. |
Societe Generale
Societe Generale is a top tier European Bank with around 119,000 employees serving more than 26 million clients in 62 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.
The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:
Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).
In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.
For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.
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