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  • MIL-OSI Africa: Cabo Verde’s Digital Transformation in full expansion with African Development Bank Support

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

    PRAIA, Cabo Verde, May 7, 2025/APO Group/ —

    • Technology Park positioned to make Cabo Verde a global digital hub with world-class facilities 
    • AfDB President honored with Cabo Verde’s highest public service award for a decade of transformative leadership 

    Cabo Verde marked a significant milestone in its digital transformation journey on Monday, 5 May, with the official inauguration of TechPark CV (https://apo-opa.co/4iSRdLU), a strategic infrastructure project backed by the African Development Bank Group (www.AfDB.org).  

    The island nation’s Prime Minister Ulisses Correia e Silva and African Development Bank Group head Dr. Akinwumi Adesina, led the inauguration of the facility at a ceremony attended by hundreds of government officials, international partners, entrepreneurs, and academia. The celebration, held at TechPark CV’s main campus in Praia, continued in Mindelo on Tuesday. 

    The EUR 51.85 million project, developed in two phases with EUR 45.5 million in African Development Bank financing, has rapidly evolved from concept to a thriving technology center since operations began in November 2023. Within just 18 months, the park now hosts 23 companies from 7 countries, employs 311 young professionals, and has reached full occupancy of its 52 office spaces. 

    Prime Minister Correia e Silva emphasized the park’s world-class facilities: “The tech park is a good environment to connect startups and more mature companies. I have visited many tech parks around the world, and this one is not behind any of them. In fact, it is one of the best. With 311 professionals employed here across 23 companies serving international markets, and state-of-the-art infrastructure, this speaks directly to our vision of turning Cabo Verde into a Digital Island for the globe.”  

    He outlined two main objectives – the first, to position Cabo Verde as a digital hub for Africa and the rest of the world, exporting quality digital services, and the second, to create quality jobs and attract diaspora talents. He highlighted the fact of Cabo Verde’s strong diaspora, which cannot be ignored, and the government’s role in leveraging its skills to build and reinforce capabilities at the Tech Park.    

    The Prime Minister added, “We also know that the state is an important economic agent. We can either facilitate or complicate it. So, we choose to facilitate, not complicate it. We would like to build a very solid foundation to sustain this digital ecosystem, reinforcing education and strengthening our informal economy with digital commerce and skills because we know that Digital is transversal.” 

    Dr. Adesina, who led a delegation from the African Development Bank Group to the event, highlighted the strategic importance of the technology park. 

    “This is a great day for Cabo Verde, to celebrate the success of your vision to transform the country into a ‘Cyber Island,’ a digital hub, a digital gateway to West Africa — an important digital hub to attract tech businesses from around the world. The future is very bright for innovative young entrepreneurs in Africa. This is driven by the rapid expansion of the digital economy, which will add $180 billion to Africa’s GDP by 2025 and $712 billion by 2050,” he said. 

    “You had doubters, with some questioning the rationale of a small country like Cabo Verde having a technology park. Some even said this was going to be a white elephant project. But you were undaunted. You stayed true to your vision. Well, time has proven you right! The white elephant is running, full steam,” he added. 

    The TechPark CV includes fully equipped facilities such as a Data Centre, Disaster Recovery Site, Business Center, Incubation Center, Civic Event Center, and Training and Qualification Center across its Praia and Mindelo campuses. Operating as a special economic zone, it offers tax exemptions on technology imports and income tax to attract companies. 

    The park has expanded its training programs from 6 in 2023 to 50 in the first quarter of 2025, upskilling 2,769 people in cutting-edge fields such as Artificial Intelligence, cybersecurity, and software development. Since opening, the park’s operational revenue has grown by more than 4,300%. 

    The African Development Bank is the largest development partner in ICT in Cabo Verde through the Praia Technology Park, for which it has provided $57 million for Phases 1 and 2 project.   

    The Bank’s investment in Cabo Verde’s Technology Park aligns with its Digital Transformation Action Plan, focusing on scaling inclusive digital infrastructure, investing in digital entrepreneurship and skills, and driving sectoral adoption of digitalization. 

    During the ceremony Adesina was awarded Cabo Verde’s highest public service medal in recognition of his decade of transformative leadership at the African Development Bank and his unwavering support for Cabo Verde’s development initiatives.   

    The three-day program will include panel discussions on digital transformation, workshops on emerging technologies, and a startup pitch competition, showcasing Cabo Verde’s pioneering role in Africa’s digital landscape. 

    MIL OSI Africa –

  • MIL-OSI Africa: Somalia’s exports are threatened by climate change and conflict: what 30 years of data tell us

    Source: The Conversation – Africa – By Mohamed Okash, Founding Director, Institute of Climate and Environment, Simad University

    In the sun-scorched lands of Somalia, farmers and livestock keepers have grown accustomed to the extremes of climate. In 2022, for example, the country suffered the longest drought in 40 years. This affected nearly half the national population of 18 million people. The following year, heavy and widespread flooding devastated the country’s farmlands and infrastructure.

    For a country whose economy breathes through its agriculture and livestock sectors, these extremes have adverse implications. Over 70% of the population relies on farming, herding and pastoral activities for their livelihoods. Despite these climatic shocks, agriculture contributes about 60% of Somalia’s GDP. This is down slightly from 65% two decades ago.

    The agricultural sector is diverse, yet fragile. It is made up of two primary components: crop cultivation (mainly sorghum, maize, sesame and fruit) and livestock rearing (camels, goats, sheep and cattle).

    Somalia’s strongest export offerings have included livestock and animal products, such as hides and skins, along with sesame seeds, bananas and charcoal.

    Livestock has been the cornerstone of exports for decades. It experienced strong growth from the early 2000s through the mid-2010s, but faced notable declines after 2017. This was a result of droughts, disease outbreaks and market disruptions. Saudi Arabia, the United Arab Emirates and Oman are among Somalia’s biggest trading partners.

    Apart from extremes of climate, the agricultural sector continues to be affected by political instability and conflict. Some of this conflict stems from disputes over water and land. These are common, particularly during times of drought, when competition for natural resources sparks conflict between settled and nomadic pastoralists.

    We are development researchers focused on the intersection of climatic vulnerability, conflict and economic resilience in fragile states. Our recent study set out to examine how the combined effects of climate change and conflict are shaping the country’s trade in agricultural and livestock products. We did this by analysing three decades (1985–2017). We analysed the long-term relationship between environmental stress, conflict events and the country’s export performance in key agricultural sectors.

    We found that erratic rainfall, rising temperatures and conflict have significantly constrained Somalia’s agricultural and livestock export performance over the past decade. While exports have not collapsed entirely, their growth trajectory has been repeatedly disrupted.

    Livestock exports, for instance, peaked in 2015–2016 at over US$530 million, but have since declined due to recurrent droughts, internal conflict and trade restrictions, including a partial import ban by Saudi Arabia in 2016.

    Our analysis confirms that a 1% rise in average temperature reduces agricultural exports by approximately 8.37%. Further, a single-unit increase in internal conflict correlates with a 0.13–0.16% drop in both livestock and crop exports in the long run.

    Although average rainfall boosts exports when available, its unpredictability creates volatility in both the short and long term. The study found that climatic shocks and ongoing conflict are deeply hurting Somalia’s agriculture and livestock exports.

    What the data says

    Our analysis, based on export figures, climate records and conflict datasets (including some from the World Bank), reveals a clear pattern: export performance rises with rainfall and declines with both rising temperatures and internal conflict.

    Banana and sorghum production have dropped by over 50% in some regions since the 1990s. Once a key export crop, bananas have nearly disappeared from Somalia’s export portfolio. Sesame remains a strong export, but yields are becoming more unpredictable.

    Heat stress, compounded by water scarcity, has reduced soil fertility and shortened growing seasons. Maize and groundnuts have been especially affected, with yields declining by up to 40% in recent drought years.

    Many of these crops were once sold in regional markets. They are now primarily consumed locally – or not grown at all.

    Overall, our research showed that Somalia’s competitiveness in global markets has weakened considerably. Livestock exports fell sharply during drought years, particularly 2011 and 2017.

    At the same time, Somalia has started importing basic food items such as maize and flour, which it used to grow domestically. This dependency is both economically and nutritionally dangerous.

    Falling production and exports

    Our analysis shows that internal conflict significantly reduces both agricultural and livestock exports in the long run. It does so by limiting market access and closing vital export corridors.

    This leads to a reliance on circuitous indirect trade routes through adjacent countries at the expense of the export economy. For example, livestock from southern Somalia can no longer reach key export ports due to insecurity.

    Violence over resources – especially water and land – frequently flares up in the central and northern rangelands between agro-pastoralists and nomadic herders. According to the Internal Displacement Monitoring Centre, between 2012 and 2023, conflict alone forced more than 1.6 million people from their homes. In some of the worst years, like 2017 and 2021, over 400,000 people were displaced from their communities.

    The conflict has displaced rural populations. It has also fractured governance systems and access to international markets, making it harder for Somalia’s farmers and herders to survive.

    Extreme droughts and floods have had a severe impact on yields.

    When the rains are good, exports rise. But those rains are now unpredictable. Erratic precipitation patterns and higher temperatures have led to decreased crop yields and hampered livestock production. This is challenging the nation’s ability to sustain exports.

    What needs to be done

    In response to the challenges posed by climate change and conflicts over agricultural and livestock exports, Somalia needs strategic policy measures.

    First, Somalia should broaden the range of products it exports. Diversification reduces the country’s vulnerability to fluctuations in the market for specific goods. It also minimises risks associated with climate-related and conflict-induced disruptions, and enhances overall economic resilience.

    Second, the country must resolve internal conflicts which disrupt farming operations and displace rural communities.

    Third, the authorities should facilitate market access. Establishing export processing zones can help meet global quality standards. This would reduce the reliance on intermediaries and ensure that producers receive a fair share of profits.

    Finally, measures need to be taken to mitigate the impact of climate change on agriculture. The government needs to invest in climate-resilient farming systems, promoting sustainable agricultural practices and supporting farmers in adapting to changing climatic conditions. This adaptation should include:

    • irrigation systems to reduce dependence on erratic rainfall

    • drought-resistant and heat-tolerant crop varieties

    • research, skills building and extension services to support local communities

    • integrated pest management and sustainable land and soil management.

    For Somalia, investing in agricultural exports is not merely an economic imperative. It is a development challenge that demands a multifaceted approach encompassing climate resilience, institutional strengthening and inclusive economic growth.

    – Somalia’s exports are threatened by climate change and conflict: what 30 years of data tell us
    – https://theconversation.com/somalias-exports-are-threatened-by-climate-change-and-conflict-what-30-years-of-data-tell-us-254146

    MIL OSI Africa –

  • MIL-OSI Global: Somalia’s exports are threatened by climate change and conflict: what 30 years of data tell us

    Source: The Conversation – Africa – By Mohamed Okash, Founding Director, Institute of Climate and Environment, Simad University

    In the sun-scorched lands of Somalia, farmers and livestock keepers have grown accustomed to the extremes of climate. In 2022, for example, the country suffered the longest drought in 40 years. This affected nearly half the national population of 18 million people. The following year, heavy and widespread flooding devastated the country’s farmlands and infrastructure.

    For a country whose economy breathes through its agriculture and livestock sectors, these extremes have adverse implications. Over 70% of the population relies on farming, herding and pastoral activities for their livelihoods. Despite these climatic shocks, agriculture contributes about 60% of Somalia’s GDP. This is down slightly from 65% two decades ago.

    The agricultural sector is diverse, yet fragile. It is made up of two primary components: crop cultivation (mainly sorghum, maize, sesame and fruit) and livestock rearing (camels, goats, sheep and cattle).

    Somalia’s strongest export offerings have included livestock and animal products, such as hides and skins, along with sesame seeds, bananas and charcoal.

    Livestock has been the cornerstone of exports for decades. It experienced strong growth from the early 2000s through the mid-2010s, but faced notable declines after 2017. This was a result of droughts, disease outbreaks and market disruptions. Saudi Arabia, the United Arab Emirates and Oman are among Somalia’s biggest trading partners.

    Apart from extremes of climate, the agricultural sector continues to be affected by political instability and conflict. Some of this conflict stems from disputes over water and land. These are common, particularly during times of drought, when competition for natural resources sparks conflict between settled and nomadic pastoralists.

    We are development researchers focused on the intersection of climatic vulnerability, conflict and economic resilience in fragile states. Our recent study set out to examine how the combined effects of climate change and conflict are shaping the country’s trade in agricultural and livestock products. We did this by analysing three decades (1985–2017). We analysed the long-term relationship between environmental stress, conflict events and the country’s export performance in key agricultural sectors.

    We found that erratic rainfall, rising temperatures and conflict have significantly constrained Somalia’s agricultural and livestock export performance over the past decade. While exports have not collapsed entirely, their growth trajectory has been repeatedly disrupted.

    Livestock exports, for instance, peaked in 2015–2016 at over US$530 million, but have since declined due to recurrent droughts, internal conflict and trade restrictions, including a partial import ban by Saudi Arabia in 2016.

    Our analysis confirms that a 1% rise in average temperature reduces agricultural exports by approximately 8.37%. Further, a single-unit increase in internal conflict correlates with a 0.13–0.16% drop in both livestock and crop exports in the long run.

    Although average rainfall boosts exports when available, its unpredictability creates volatility in both the short and long term. The study found that climatic shocks and ongoing conflict are deeply hurting Somalia’s agriculture and livestock exports.

    What the data says

    Our analysis, based on export figures, climate records and conflict datasets (including some from the World Bank), reveals a clear pattern: export performance rises with rainfall and declines with both rising temperatures and internal conflict.

    Banana and sorghum production have dropped by over 50% in some regions since the 1990s. Once a key export crop, bananas have nearly disappeared from Somalia’s export portfolio. Sesame remains a strong export, but yields are becoming more unpredictable.

    Heat stress, compounded by water scarcity, has reduced soil fertility and shortened growing seasons. Maize and groundnuts have been especially affected, with yields declining by up to 40% in recent drought years.

    Many of these crops were once sold in regional markets. They are now primarily consumed locally – or not grown at all.

    Overall, our research showed that Somalia’s competitiveness in global markets has weakened considerably. Livestock exports fell sharply during drought years, particularly 2011 and 2017.

    At the same time, Somalia has started importing basic food items such as maize and flour, which it used to grow domestically. This dependency is both economically and nutritionally dangerous.

    Falling production and exports

    Our analysis shows that internal conflict significantly reduces both agricultural and livestock exports in the long run. It does so by limiting market access and closing vital export corridors.

    This leads to a reliance on circuitous indirect trade routes through adjacent countries at the expense of the export economy. For example, livestock from southern Somalia can no longer reach key export ports due to insecurity.

    Violence over resources – especially water and land – frequently flares up in the central and northern rangelands between agro-pastoralists and nomadic herders. According to the Internal Displacement Monitoring Centre, between 2012 and 2023, conflict alone forced more than 1.6 million people from their homes. In some of the worst years, like 2017 and 2021, over 400,000 people were displaced from their communities.

    The conflict has displaced rural populations. It has also fractured governance systems and access to international markets, making it harder for Somalia’s farmers and herders to survive.

    Extreme droughts and floods have had a severe impact on yields.

    When the rains are good, exports rise. But those rains are now unpredictable. Erratic precipitation patterns and higher temperatures have led to decreased crop yields and hampered livestock production. This is challenging the nation’s ability to sustain exports.

    What needs to be done

    In response to the challenges posed by climate change and conflicts over agricultural and livestock exports, Somalia needs strategic policy measures.

    First, Somalia should broaden the range of products it exports. Diversification reduces the country’s vulnerability to fluctuations in the market for specific goods. It also minimises risks associated with climate-related and conflict-induced disruptions, and enhances overall economic resilience.

    Second, the country must resolve internal conflicts which disrupt farming operations and displace rural communities.

    Third, the authorities should facilitate market access. Establishing export processing zones can help meet global quality standards. This would reduce the reliance on intermediaries and ensure that producers receive a fair share of profits.

    Finally, measures need to be taken to mitigate the impact of climate change on agriculture. The government needs to invest in climate-resilient farming systems, promoting sustainable agricultural practices and supporting farmers in adapting to changing climatic conditions. This adaptation should include:

    • irrigation systems to reduce dependence on erratic rainfall

    • drought-resistant and heat-tolerant crop varieties

    • research, skills building and extension services to support local communities

    • integrated pest management and sustainable land and soil management.

    For Somalia, investing in agricultural exports is not merely an economic imperative. It is a development challenge that demands a multifaceted approach encompassing climate resilience, institutional strengthening and inclusive economic growth.

    This research is funded by SIMAD University in Mogadishu, Somalia.

    This research is funded by SIMAD University in Mogadishu, Somalia.

    – ref. Somalia’s exports are threatened by climate change and conflict: what 30 years of data tell us – https://theconversation.com/somalias-exports-are-threatened-by-climate-change-and-conflict-what-30-years-of-data-tell-us-254146

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Zimbabwe’s Minister of Energy, Power to Deliver Keynote at Invest in African Energy (IAE) 2025

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

    PARIS, France, May 7, 2025/APO Group/ —

    The Invest in African Energy (IAE) 2025 Forum is pleased to announce that Zimbabwe’s Minister of Energy and Power Development, July Moyo, will deliver a keynote address at the event in Paris next month, highlighting national energy priorities and emerging investment opportunities. His participation marks a strategic moment for Zimbabwe as the country positions its energy sector for a new wave of private sector-led growth.

    Minister Moyo’s participation follows Zimbabwe’s recent international efforts to attract investment into its energy sector, including high-level engagements aimed at outlining a clear roadmap for modernization and highlighting the essential role of private capital in addressing infrastructure deficits. With a large portion of the population still lacking access to electricity and power demand continuing to outpace supply, Zimbabwe is actively seeking strategic partnerships to deliver more reliable, sustainable and diversified energy solutions.

    IAE 2025 (https://apo-opa.co/4d2nKO6) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    To meet both near-term and long-term goals, the government is pursuing a dual-track approach: restarting coal-fired power plants to stabilize domestic supply in the short term, while simultaneously accelerating investment in renewable energy. Solar and wind projects are at the forefront of Zimbabwe’s energy strategy, with plans to develop large-scale solar farms and export power to neighboring countries. In partnership with Zambia, Zimbabwe is exploring floating solar developments on Lake Kariba – backed by a recent $250 million facility from the African Export-Import Bank to develop a 250 MW project by mid-2026 – signaling a shift toward innovative, climate-resilient infrastructure.

    Minister Moyo’s keynote will outline current investment-ready opportunities in power generation, transmission and off-grid electrification, as well as the regulatory and policy reforms designed to attract independent power producers and foreign capital. His presence reinforces Zimbabwe’s commitment to working with global stakeholders to transform its energy landscape and foster long-term energy security. Moreover, Zimbabwe’s participation at IAE 2025 reflects the forum’s broader mission of connecting African energy markets with international financiers, developers and strategic partners.

    MIL OSI Africa –

  • MIL-OSI: Mizuho Americas Hires Lloyd Walmsley as Managing Director and Senior Equity Research Analyst Covering the Internet Sector

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) — Mizuho Americas today announced the hiring of Lloyd Walmsley as Managing Director and Senior Equity Research Analyst covering the Internet sector. Based in Atlanta, Walmsley reports to the Head of Americas Equity Research, Bill Featherston.

    Walmsley has more than 20 years of experience covering the Internet sector. He ranked fifth among Hedge Funds in Institutional Investor’s (now Extel) All-America Research Team and eighth overall in the US Large Cap Internet sector in 2023. Most recently, he was Managing Director, Equity Research Analyst at UBS Securities where he more than doubled the size of his research coverage team and hosted the firm’s inaugural Private Software and Internet Conference.

    “Lloyd’s expertise and reputation have established him as a leading analyst,” said Featherston. “I look forward to his contribution to Mizuho’s growing research department.”

    Prior to UBS, Walmsley was at Deutsche Bank, where his team ranked ninth in Internet Equity Research Institutional Investor’s All-America Research Team in 2020.

    Other analyst roles included positions at Skiff, Thomas Weisel Partners, Credit Suisse, and worked as an M&A investment banker at Lazard.

    Walmsley holds a Bachelor of Arts from the University of Virginia.

    About Mizuho Americas
    Mizuho Financial Group, Inc. is one of the largest financial institutions in the world as measured by total assets of ~$2 trillion, according to S&P Global 2024. Mizuho’s 65,000 employees worldwide offer comprehensive financial services to clients in 36 countries and 850 offices throughout the Americas, EMEA, and Asia.

    Mizuho Americas is a leading Corporate and Investment Bank (CIB) that provides a full spectrum of client-driven solutions across strategic advisory, capital markets, corporate banking, and fixed income and equities sales & trading to corporate, government, and institutional clients in the US, Canada, and Latin America. Through its acquisition of Greenhill, Mizuho enhanced its M&A, restructuring, and private capital advisory capabilities across the Americas, Europe, and Asia. Mizuho Americas employs approximately 4,000 professionals. For more information visit www.mizuhoamericas.com.

    For inquiries, please contact:
    Jim Gorman
    Executive Director, Media Relations, Mizuho Americas
    +1-212-282-3867
    jim.gorman@mizuhogroup.com

    Laura London
    Director, Media Relations, Mizuho Americas
    (917) 446-5226
    laura.london@mizuhogroup.com

    The MIL Network –

  • MIL-OSI: Glen Burnie Bancorp Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    GLEN BURNIE, Md., May 07, 2025 (GLOBE NEWSWIRE) — Glen Burnie Bancorp (“Bancorp”) (NASDAQ: GLBZ), the bank holding company for The Bank of Glen Burnie (“Bank”), today reported results for the first quarter ended March 31, 2025. Net income for the first quarter was $153,000, or $0.05 per basic and diluted common share, as compared to net income of $3,000, or $0 per basic and diluted common share for the three-month period ended March 31, 2024.   On March 31, 2025, Bancorp had total assets of $358.0 million. Bancorp is the oldest independent commercial bank in Anne Arundel County.

    “The Company continues to pursue growing loans and deposits to improve revenues, margins and, ultimately, profitability. That said, we are aware of headwinds that could result in a slowing economy. We continue to emphasize disciplined lending practices, focusing on growing new client relationships, safety, and margin. Our allowance for credit losses stood at $2.7 million at March 31, 2025, representing 1.30% of total loans. Our non-performing assets remained at minimal levels consistent with previous quarters, underscoring the strength of our underwriting standards and ongoing credit monitoring,” said Mark C. Hanna, President and Chief Executive Officer. “Our team is committed to our customers and communities, and we continue to focus on growing funding sources, growing earning assets and building the infrastructure needed to grow customer relationships. These strategic priorities drive all areas of revenue and expense control, with the goal of expanding both return on assets and return on capital for the long term. While markets have been volatile recently, our Company remains financially strong, sound, and secure as reflected in our capital levels, asset quality, diversified deposit base and access to multiple liquidity sources.”

    Highlights for the First Three Months of 2025

    Net interest income decreased $8,000, or 0.31% to $2.56 million through March 31, 2025, as compared to $2.57 million during the prior-year first quarter. The decrease resulted from a $233,000 increase in interest expense, offset by a $224,000 increase in interest income. The increase in interest on deposits was driven by increased deposit balances in the money market products. The increase in interest and fees on loans was driven by the $30.0 million higher average balance and 0.27% higher yield on loan balances.

    The Company expects that its strong liquidity and capital positions will provide ample capacity for future growth.

    Return on average assets for the three-month period ended March 31, 2025, was 0.17%, as compared to 0% for the three-month period ended March 31, 2024. Return on average equity for the three-month period ended March 31, 2025, was 3.22%, as compared to 0.06% for the three-month period ended March 31, 2024.   Release of provision for credit allowance on loans and unfunded commitments primarily drove the higher return on average assets and average equity.

    On March 31, 2025, liquidity remained strong due to managed cash and cash equivalents, borrowing lines with the FHLB of Atlanta, the Federal Reserve and correspondent banks, and the size and composition of the bond portfolio.

    Balance Sheet Review

    Total assets were $358.0 million on March 31, 2025, a decrease of $1.0 million or 0.27%, from $359.0 million on December 31, 2024.   Cash and cash equivalents decreased $788,000 or 3.22%, from December 31, 2024, to March 31, 2025. Investment securities were $106.6 million on March 31, 2025, a decrease of $1.3 million or 1.23%, from $107.9 million on December 31, 2024.   Loans, net of deferred fees and costs, were $207.4 million on March 31, 2025, an increase of $2.2 million or 1.06%, from $205.2 million on December 31, 2024.   Loan balances increased 16.52% over the last four quarters, growing from $178.0 million on March 31, 2024 to $207.4 million on March 31, 2025. With the $20 million reduction in short term borrowings over the past twelve months, average earning-asset balances declined slightly to $356.2 million on March 31, 2025, as compared to $362.0 million during the prior-year first quarter.

    Total deposits were $317.3 million on March 31, 2025, an increase of $8.1 million or 2.61%, from $309.2 million on December 31, 2024. Noninterest-bearing deposits were $104.5 million on March 31, 2025, an increase of $3.7 million or 3.71%, from $100.7 million on December 31, 2024.   Interest-bearing deposits were $212.8 million on March 31, 2025, an increase of $4.4 million or 2.08%, from $208.4 million on December 31, 2024. Total borrowings were $20.0 million on March 31, 2025, a decrease of $10.0 million, or 33.33% from $30.0 million on December 31, 2024.

    As of March 31, 2025, total stockholders’ equity was $19.2 million (5.36% of total assets), equivalent to a book value of $6.61 per common share. Total stockholders’ equity on December 31, 2024, was $17.8 million (4.96% of total assets), equivalent to a book value of $6.14 per common share. The increase in the ratio of stockholders’ equity to total assets was due to an increase in equity from the decline in the market value loss of the Company’s available-for-sale securities portfolio. Included in stockholders’ equity on March 31, 2025, and December 31, 2024, were unrealized losses (net of taxes) on the Company’s available-for-sale investment securities totaling $17.8 million and $19.0 million, respectively. This decrease in unrealized losses primarily resulted from decreasing market interest rates during the first quarter of 2025, which increased the fair value of the investment securities. Changes in unrealized losses on the investment portfolio are attributed to changes in interest rates, not credit quality. The Company does not intend to sell, and it is more likely than not that it will not be required to sell any securities held at an unrealized loss.

    Asset quality, which has trended within a narrow range over the past several years, remains sound on March 31, 2025. Nonperforming assets, which consist of nonaccrual loans, restructured loans to borrowers with financial difficulty, accruing loans past due 90 days or more, and other real estate owned, represented 0.32% of total assets on March 31, 2025, as compared to 0.10% on December 31, 2024, demonstrating positive asset quality trends across the portfolio.   The allowance for credit losses on loans was $2.7 million, or 1.30% of total loans, as of March 31, 2025, as compared to $2.8 million, or 1.38% of total loans, as of December 31, 2024. The allowance for credit losses for unfunded commitments was $110,000 as of March 31, 2025, as compared to $584,000 as of December 31, 2024. The $474,000 decrease was primarily driven by the utilization of 1.33% lower loss rates during the first quarter of 2025 as compared to the fourth quarter of 2024.

    Review of Financial Results

    For the three-month periods ended March 31, 2025, and 2024

    Net income for the three-month period ended March 31, 2025, was $153,000, as compared to net income of $3,000 for the three-month period ended March 31, 2024.   The increase is primarily the result of a $315,000 decrease in the allowance for credit loss and $474,000 decrease in the allowance for unfunded commitments included in other noninterest expenses, partially offset by a $209,000 increase in salary and employee benefits costs, a $129,000 increase in legal, accounting and other professional fees, and a $203,000 decrease in income tax benefit.  

    The Company is taking steps to reduce non-interest expenses in future periods which include the January 2025 closure of our Linthicum branch office, the planned closing of our Severna Park branch office in May of 2025, and the recent announcement of an early retirement program.

    Net interest income for the three-month period ended March 31, 2025, totaled $2.56 million, as compared to $2.57 million for the three-month period ended March 31, 2024. The $8,000 decrease in net interest income was primarily due to the $439,000 increase in interest expense related to higher balances on money market deposits, $193,000 lower interest and dividends on securities due to principal paydowns, and $77,000 lower interest on deposits with banks due to lower cash balances, offset by $494,000 higher interest income on loans due to higher yields and balances, and $206,000 lower interest on short term borrowings due to lower borrowing balances.

    Net interest margin for the three-month period ended March 31, 2025, was 2.92%, as compared to 2.86% for the same period of 2024, an increase of 0.06%. The increase in the net interest margin is primarily due to increases in the yield on loans, offset by increases in yields on interest-bearing deposits and borrowed funds. Loan yields increased from 5.06% to 5.34% between the two periods while the cost of interest-bearing liabilities increased from 1.51% to 1.89% between the two periods.  

    The average balance of interest-earning assets decreased $5.8 million while the yield increased 0.35% from 3.78% to 4.13%, when comparing the three-month periods ended March 31, 2025, and 2024, respectively. The average balance of interest-bearing funds increased $7.6 million during these same periods. The average balance of noninterest-bearing funds decreased $12.9 million, and the cost of funds increased 0.31%, when comparing the three-month periods ended March 31, 2025, and 2024.

    The release of credit loss allowance on loans for the three-month period ended March 31, 2025, was $146,000, as compared to a provision of credit loss allowance of $169,000 for the same period of 2024. The decrease for the three-month period ended March 31, 2025, when compared to the three-month period ended March 31, 2024, primarily reflects the use of a lower loss rate. Noninterest income for the three-month period ended March 31, 2025, was $205,000, as compared to $229,000 for the three-month period ended March 31, 2024.

    For the quarter ended March 31, 2025, noninterest expense totaled $2.8 million, a decrease of $69,000 compared to $2.9 million for the quarter ended March 31, 2024. On a year-over-year comparative basis, noninterest expenses decreased due to a $474,000 decrease in the credit allowance for unfunded commitments, partially offset by a $209,000 increase in salary and employee benefits and $129,000 increase in legal, accounting, and other professional fees. Salary and employee benefits expenses increased primarily due to increased employee wages and the cost of incentive programs.

    For the three-month period ended March 31, 2025, income tax benefit was $29,000, as compared with $232,000 for the same period a year earlier.   The $232,000 income tax benefit included $87,000 associated with amended Maryland tax returns for tax years 2022 and 2021.

    Glen Burnie Bancorp Information

    Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with seven branch offices serving Anne Arundel County. The Bank is engaged in the commercial and retail banking business including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships, and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers. Additional information is available at www.thebankofglenburnie.com.

    Forward-Looking Statements

    The statements contained herein that are not historical financial information may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, which could cause the Company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. For a more complete discussion of these and other risk factors, please see the Company’s reports filed with the Securities and Exchange Commission.

             
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
    (dollars in thousands)
               
      March 31,   March 31,   December 31,
        2025       2024       2024  
      (unaudited)   (unaudited)   (audited)
    ASSETS          
    Cash and due from banks $ 1,792     $ 9,091     $ 2,012  
    Interest-bearing deposits in other financial institutions   21,884       33,537       22,452  
       Total Cash and Cash Equivalents   23,676       42,628       24,464  
               
    Investment securities available for sale, at fair value   106,623       128,727       107,949  
    Restricted equity securities, at cost   1,201       246       1,671  
               
    Loans, net of deferred fees and costs   207,393       177,950       205,219  
    Less: Allowance for credit losses(1)   (2,689 )     (2,035 )     (2,839 )
       Loans, net   204,704       175,915       202,380  
               
    Premises and equipment, net   2,609       2,928       2,678  
    Bank owned life insurance   8,877       8,700       8,834  
    Deferred tax assets, net   8,088       8,255       8,548  
    Accrued interest receivable   1,243       1,281       1,345  
    Accrued taxes receivable   159       363       148  
    Prepaid expenses   474       460       471  
    Other assets   319       367       468  
       Total Assets $ 357,973     $ 369,870     $ 358,956  
               
    LIABILITIES          
    Noninterest-bearing deposits $ 104,487     $ 115,167     $ 100,747  
    Interest-bearing deposits   212,770       194,064       208,442  
    Total Deposits   317,257       309,231       309,189  
               
    Short-term borrowings   20,000       40,000       30,000  
    Defined pension liability   338       327       330  
    Accrued expenses and other liabilities   1,197       2,183       1,620  
       Total Liabilities   338,792       351,741       341,139  
               
    STOCKHOLDERS’ EQUITY          
    Common stock, par value $1, authorized 15,000,000 shares, issued and outstanding 2,900,681, 2,887,467, and 2,900,481 shares as of March 31, 2025, March 31, 2024, and December 31, 2024, respectively.   2,901       2,887       2,901  
    Additional paid-in capital   11,037       10,989       11,037  
    Retained earnings   23,035       23,575       22,882  
    Accumulated other comprehensive loss   (17,792 )     (19,322 )     (19,003 )
       Total Stockholders’ Equity   19,181       18,129       17,817  
       Total Liabilities and Stockholders’ Equity $ 357,973     $ 369,870     $ 358,956  
               
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF (LOSS) INCOME
    (dollars in thousands, except per share amounts)
    (unaudited)
             
         Three Months Ended
    March 31,
          2025       2024  
    Interest income        
    Interest and fees on loans   $ 2,709     $ 2,215  
    Interest and dividends on securities     745       938  
    Interest on deposits with banks and federal funds sold     175       252  
    Total Interest Income     3,629       3,405  
             
    Interest expense        
    Interest on deposits     841       402  
    Interest on short-term borrowings     225       431  
    Total Interest Expense     1,066       833  
             
    Net Interest Income     2,563       2,572  
    (Release) provision of credit loss allowance     (146 )     169  
    Net interest income after credit loss provision     2,709       2,403  
             
    Noninterest income        
    Service charges on deposit accounts     31       38  
    Other fees and commissions     131       148  
    Income on life insurance     43       43  
    Total Noninterest Income     205       229  
             
    Noninterest expenses        
    Salary and employee benefits     1,827       1,618  
    Occupancy and equipment expenses     309       331  
    Legal, accounting and other professional fees     383       254  
    Data processing and item processing services     256       250  
    FDIC insurance costs     41       38  
    Advertising and marketing related expenses     37       23  
    Loan collection costs     45       5  
    Telephone costs     38       40  
    Other expenses     (146 )     302  
    Total Noninterest Expenses     2,790       2,861  
             
    Loss before income taxes     124       (229 )
    Income tax beneift     (29 )     (232 )
             
       Net income   $ 153     $ 3  
             
    Basic and diluted net income per common share   $ 0.05     $ –  
             
    GLEN BURNIE BANCORP AND SUBSIDIARY            
    CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY
    For the three months ended March 31, 2025 and 2024            
    (dollars in thousands)                  
                         
                    Accumulated    
            Additional       Other   Total
        Common   Paid-in   Retained   Comprehensive   Stockholders’
    (unaudited) Stock   Capital   Earnings   Loss   Equity
    Balance, December 31, 2023 $ 2,883   $ 10,964   $ 23,859     $ (18,381 )   $ 19,325  
                         
    Net income   –     –     3       –       3  
    Cash dividends, $0.10 per share   –     –     (287 )     –       (287 )
    Dividends reinvested under dividend reinvestment plan   4     25     –       –       29  
    Other comprehensive loss   –     –     –       (941 )     (941 )
    Balance, March 31, 2024 $ 2,887   $ 10,989   $ 23,575     $ (19,322 )   $ 18,129  
                         
                         
                    Accumulated    
            Additional       Other   Total
        Common   Paid-in   Retained   Comprehensive   Stockholders’
    (unaudited) Stock   Capital   Earnings   (Loss) Income   Equity
    Balance, December 31, 2024 $ 2,901   $ 11,037   $ 22,882     $ (19,003 )   $ 17,817  
                         
    Net income   –     –     153       –       153  
    Other comprehensive income   –     –     –       1,211       1,211  
    Balance, March 31, 2025 $ 2,901   $ 11,037   $ 23,035     $ (17,792 )   $ 19,181  
                         
    GLEN BURNIE BANCORP AND SUBSIDIARY
    SELECTED FINANCIAL DATA
    (dollars in thousands, except per share amounts)
                     
        Three Months Ended   Year Ended
        March 31,   December 31,   March 31,   December 31,
          2025       2024       2024       2024  
        (unaudited)   (unaudited)   (unaudited)   (unaudited)
                     
    Financial Data                
    Assets   $ 357,973     $ 358,956     $ 369,870     $ 358,956  
    Investment securities     106,623       107,949       128,727       107,949  
    Loans, (net of deferred fees & costs)     207,393       205,219       177,950       205,219  
    Allowance for loan losses     2,689       2,839       2,035       2,839  
    Deposits     317,257       309,189       309,231       309,189  
    Borrowings     20,000       30,000       40,000       30,000  
    Stockholders’ equity     19,181       17,817       18,129       17,817  
    Net income (loss)     153       (39 )     3       (112 )
                     
    Average Balances                
    Assets   $ 353,308     $ 366,888     $ 358,877     $ 363,994  
    Investment securities     132,805       136,868       163,618       148,037  
    Loans, (net of deferred fees & costs)     205,868       204,703       175,914       192,646  
    Deposits     312,030       314,046       305,858       309,838  
    Borrowings     20,215       30,323       31,667       32,721  
    Stockholders’ equity     19,258       20,664       19,124       19,169  
                     
    Performance Ratios                
    Annualized return on average assets     0.17%       -0.04%       0.00%       -0.03%  
    Annualized return on average equity     3.22%       -0.75%       0.06%       -0.58%  
    Net interest margin     2.92%       2.98%       2.86%       2.98%  
    Dividend payout ratio     0%       0%       9426%       -773%  
    Book value per share   $ 6.61     $ 6.14     $ 6.28     $ 6.14  
    Basic and diluted net income (loss) per share     0.05       (0.01 )     –       (0.04 )
    Cash dividends declared per share     0.00       0.00       0.10       0.30  
    Basic and diluted weighted average shares outstanding     2,900,681       2,900,681       2,885,552       2,893,871  
                     
    Asset Quality Ratios                
    Allowance for loan losses to loans     1.30%       1.38%       1.14%       1.38%  
    Nonperforming loans to avg. loans     0.55%       0.18%       0.21%       0.19%  
    Allowance for loan losses to nonaccrual & 90+ past due loans     236.9%       789.1%       549.1%       789.1%  
    Net charge-offs (recoveries) annualize to avg. loans     0.01%       -0.04 %     0.66%       0.08%  
                     
    Capital Ratios                
    Common Equity Tier 1 Capital   N/A     15.15%       17.14%       15.15%  
    Tier 1 Risk-based Capital Ratio   N/A     15.15%       17.14%       15.15%  
    Leverage Ratio   N/A     9.97%       10.43%       9.97%  
    Total Risk-Based Capital Ratio   N/A     16.40%       18.30%       16.40%  
                     

    The MIL Network –

  • MIL-OSI China: China announces fresh policy boost to fuel economic recovery

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

    BEIJING, May 7 — China’s monetary and financial authorities on Wednesday unveiled a raft of supportive measures, including policy rate and reserve requirement ratio (RRR) cuts, as the country stepped up efforts to stabilize markets and sustain economic recovery amid external headwinds.

    In one of its key policy actions, the People’s Bank of China (PBOC), the country’s central bank, announced an RRR cut of 0.5 percentage points for eligible financial institutions from May 15. Notably, the RRR for auto financing and financial leasing companies will be slashed from 5 percent to 0 percent.

    PBOC Governor Pan Gongsheng told a press conference that this move is expected to provide the financial market with roughly 1 trillion yuan (about 138.9 billion U.S. dollars) in long-term liquidity.

    PBOC on Wednesday also announced its decision to cut the rate for seven-day reverse repos by 0.1 percentage points starting Thursday to better implement the moderately loose monetary policy and enhance support for the real economy.

    Pan said this policy rate reduction is expected to result in the loan prime rate (LPR), a market-based benchmark lending rate, dropping by 0.1 percentage points.

    More financial support, meanwhile, will be given to sectors including tech innovation, service consumption and elderly care via relending — with relending rates lowered by 0.25 percentage points from Wednesday, the central bank said.

    These announcements followed a high-level meeting of Chinese policymakers in late April that called for faster implementation of more proactive and effective macro policies, ample liquidity and stronger support for the real economy, after an encouraging 5.4-percent GDP expansion witnessed in the first quarter of 2025.

    “The foundation for China’s sustained economic recovery needs to be further consolidated, and the country faces an increasing impact from external shocks,” said the meeting of the Political Bureau of the Communist Party of China Central Committee.

    Pan said Wednesday’s policy decisions will steadily lower overall social financing costs, boost market confidence, and effectively support stable expansion of the real economy.

    CAPITAL MARKET BOOST

    Also speaking to the press, Wu Qing, head of the China Securities Regulatory Commission (CSRC), pledged efforts to keep capital markets stable and active, noting that the commission will help listed companies affected by tariffs cope with challenges.

    Relevant authorities will support listed companies in using various financing instruments such as equities, bonds and real estate investment trusts (REITs) to conduct direct financing, and encourage eligible domestic enterprises to pursue overseas listings in compliance with laws and regulations, Wu told the media.

    Financial institutions and tech firms, as well as private equity and venture capital firms, will be allowed to issue technological innovation bonds, with funds raised in this manner earmarked for investment and financing in the innovation sector, according to a statement jointly released by the PBOC and the CSRC on Wednesday.

    To further bolster the capital market, the central bank said it will combine the quotas of its two monetary policy tools to make them more convenient and flexible — thereby strengthening the inherent stability of the capital market.

    The Securities, Funds and Insurance companies Swap Facility (SFISF), with an initial scale of 500 billion yuan, and the 300-billion-yuan relending facility that supports stock buybacks and shareholding increases, will be operated under a shared quota of 800 billion yuan from Wednesday onwards.

    At the same press conference, Li Yunze, head of the National Financial Regulatory Administration, said the administration will continue to expand the pilot program for long-term investment by insurance funds.

    An additional 60 billion yuan in quotas is expected to be approved in the near term, injecting fresh liquidity into the market, Li revealed.

    “We have solid economic fundamentals, sound macro policies, and reliable institutional guarantees, all injecting much-needed certainty into China’s economy and capital markets amid global uncertainties,” Wu said.

    PROPERTY MARKET CONSOLIDATION

    Chinese authorities will also expedite the rollout of a series of financing systems aligned with the new development model of its property sector, reinforcing efforts to stabilize the property market, Li said at the media conference.

    Loans approved for China’s “white list” real estate projects have reached 6.7 trillion yuan, which facilitated the construction and delivery of over 16 million homes, significantly stemming the property sector downturn and restoring market stability, Li said.

    An official survey covering 70 major Chinese cities showed that commercial home prices in March this year had risen in more cities compared with a month earlier, as transactions in the real estate market revealed greater vibrancy.

    To consolidate this trend, PBOC said it will lower interest rates on personal housing provident fund loans by 0.25 percentage points starting Thursday.

    This adjustment is expected to save homeowners more than 20 billion yuan per year in terms of interest payments, thus supporting the rigid demands of Chinese households, Pan told the press.

    MIL OSI China News –

  • MIL-OSI Europe: The EBA updates technical standards on resolution planning reporting

    Source: European Banking Authority

    The European Banking Authority (EBA) today published its updated final draft implementing technical standards (ITS) on resolution planning reporting. This comprehensive review of the ITS on the provision of information for the purposes of resolution plans seeks to achieve full harmonisation of reporting requirements in the EU and avoid duplication of data requests, thus reducing the cost of compliance with resolution planning reporting obligations by institutions. Proportionality has been a key driver of this regulatory product.

    These ITS improve the usability of the data collected by resolution authorities reflecting the latest developments in resolution planning, crisis preparedness and policies, and delivering efficient practices. These ITS promote harmonisation, proportionality and simplification in resolution planning reporting by avoiding parallel data collections, and eliminating data points that are either redundant or of limited value. Proportionality has been enhanced with the streamlining of datapoints to avoid overlaps and the reporting requirements are based on the size and complexity of institutions. More specifically, measures to support simplification and proportionality include:

    • relieving entities from parallel data collections based on legal obligations coming from different authorities;
    • Implementing a modular core-plus-supplement approach that reduces the scope of reporting obligations for certain categories of reporting entities based on their size and complexity.;
    • removing duplications and overlapping data points with MREL/TLAC, CoRep and FinRep, where the reporting entity has already submitted this data.

    Next steps

    Following the mandate for the EBA to develop IT solutions, these ITS will repeal the Commission’s Implementing Regulation (EU) 2018/1624, with a view to making the technical standards more user-friendly for institutions. The IT solutions according to which supervisory reporting data has to be provided, including templates and instructions, can be found on the EBA website.

    During Q4 2025 the EBA will publish a technical package including the DPM, validation rules and taxonomy, that shall be used by institutions to submit this resolution planning reporting information to resolution authorities.

    Legal basis and background

    The Bank Recovery and Resolution Directive (BRRD) requires resolution authorities to draw up resolution plans that outline the actions to be taken in case an institution meets the conditions for resolution. The ITS on procedures, standard forms and templates for the provision of information for the purpose of resolution plans sets out a procedure that should be followed when resolution authorities require information about an institution for the purpose of drawing up a resolution plan. 

    MIL OSI Europe News –

  • MIL-OSI: Rudy R. Miller Among Most Generous Donors to National Museum of the United States Army Campaign

    Source: GlobeNewswire (MIL-OSI)

    FORT BELVOIR, Va., May 07, 2025 (GLOBE NEWSWIRE) — The Army Historical Foundation announced that Rudy R. Miller has presented a gift to the campaign for the National Museum of the United States Army that qualifies him for the Foundation’s One-Star Circle of Distinction. The Museum, which will debut a special Revolutionary War exhibit in June marking the 250th Birthday of the U.S. Army and next year’s 250th anniversary of the nation’s founding, has been praised as one of the top military museums in the nation.

    Rudy R. Miller stated, “I became a member and early supporter of The Army Historical Foundation and the National Museum of the United States Army a few years ago. In 2024, I was very proud to become a lifetime member of The 1814 Society, which shares a commitment and desire to see the Army’s history preserved and exhibited for future generations. I have great respect for our flag plus symbols of our nation’s freedom and independence.”

    Miller continued, “I was born in Tennessee and raised in Virginia. My grandfather, father, uncle, brother, and myself all served in the U.S. Army. I am a passionate, motivated individual, a serial entrepreneur, and a philanthropist. I’m inspired by the Foundation’s challenge coin which has the following words engraved, “ENGAGE * EDUCATE * INSPIRE * HONOR * PRESERVE!”

    The Army Historical Foundation serves as the official fundraising organization for the National Army Museum as part of its mission to preserve and present the history of the American Soldier. The Museum, which is owned and operated by the U.S. Army, is the first to tell the entire history of the nation’s oldest military service, immersing visitors in the Army story through compelling galleries, moving exhibits, a multisensory 300-degree theater, tranquil rooftop garden, and hundreds of historic artifacts rarely or never-before seen by the public.

    “Rudy Miller has led a lifetime of service to our great nation, and we are deeply grateful that he has made a defining gift toward the Foundation’s mission to preserve and present the history of the American Soldier,” said retired Brig. Gen. Burt Thompson, president of The Army Historical Foundation. “With Rudy’s support, we will be better able to remind the nation of all we owe those who wore the Army uniform, including Rudy himself and the members of his proud military family.”

    Rudy R. Miller’s contribution places him among the campaign’s most generous donors. Mr. Miller is Chairman, President and Chief Executive Officer of Miller Capital Corporation, a private equity firm and an affiliated company of The Miller Group of entities, established in 1972. Mr. Miller was Founder and Chairman of the Board of Miller Capital Markets, a FINRA member investment banking firm, from 2006 through 2012. He previously served over 20 years as a certified arbitrator for the NASD (now known as FINRA). He has years of executive-level experience owning, operating, and advising national and international corporations, from NYSE listed public companies to emerging-growth private companies, through varying economic climates. He has worked with various U.S. government contractors and possesses the ability to address crisis issues on behalf of his clients as one of his crucial skillsets. In 2025, Miller Capital was voted Best of Our Valley – Best Investment Firm for the sixth consecutive year by Arizona Foothills Magazine’s readers who responded with hundreds of thousands votes.

    Mr. Miller served in the United States Army, U.S. Army Reserve, and the U.S. Air Force Reserve, in the Vietnam era, and received honorable discharges as a Noncommissioned Officer. Mr. Miller also has an aviation background and is listed on the Smithsonian National Air and Space Museum Wall of Honor. Prior to his military service, he served as a fireman and first responder. Mr. Miller earned his Bachelor and Master of Business Administration degrees from Pacific Western University.

    President of the United States of America, Ronald W. Reagan, presented Mr. Miller the Medal of Merit in appreciation of his support and service as a member of a Presidential Task Force. Miller was honored to be the keynote speaker at a U.S. Navy Relinquishment of Command and Retirement Ceremony aboard the USS Midway Museum, San Diego, California in 2018. Mr. Miller accepted an invitation in 2014 to become a member of Thunderbird Field II Veterans Memorial, Inc., a non-profit organization for veterans and non-veterans. He was selected by the Board of Directors to be the Chairman of the Advisory Board where he developed and managed its Aviation Scholarship Program. Prior to retiring from Tbird2 in 2024, he served as Co-Chairman of the Scholarship Committee and a key fundraiser. He was the recipient of the first Tbird2 Leadership Award. Mr. Miller’s philanthropic endeavors include support for the non-profit arts community, athletic foundations, universities, community colleges, numerous non-profit entities, and veterans’ projects.

    In 2008, Mr. Miller instituted the annual Rudy R. Miller Business – Finance Scholarship in support of Arizona State University, in particular the W. P. Carey School of Business. His active involvement at the University also included having served as a member of ASU’s Dean’s Council of 100. In 2023, Mr. Miller was selected by Embry-Riddle Aeronautical University to join two influential advisory boards for both the College of Aviation (COA) and the College of Business, Security and Intelligence (CBSI). In addition to joining Embry-Riddle’s COA and CBSI advisory boards, Miller has established scholarships for students, both veterans and non-veterans, at both colleges. He also set up a fund to support COA simulator training to improve commercial pilot safety (ISCP) as well as a fund to support CBSI students with CompTIA Security+ courseware and exam fees.

    In January 2024, Mr. Miller accepted a position on the Advisory Board at CrossFirst Bank (Phoenix, Arizona), a subsidiary of CrossFirst Bankshares, Inc. Effective March 1, 2025, First Busey Corporation (NASDAQ: BUSE), the holding company for Busey Bank, acquired by merger CrossFirst Bankshares, Inc. Mr. Miller agreed to continue to serve on the Busey Bank (Arizona) Advisory Board.

    For more information about Rudy R. Miller and The Miller Group of entities, please visit www.themillergroup.net.

    Individuals and organizations that wish to support the Foundation’s mission can make a gift through its website at armyhistory.org. The Foundation can also arrange for large group visits and special events at the Museum. The Museum is open every day, except December 25, with free admission and parking.

    About The Army Historical Foundation
    The Army Historical Foundation establishes, assists, and promotes programs and projects that preserve the history of the American Soldier and promote public understanding of and appreciation for the contributions by all components of the U.S. Army and its members. The Foundation serves as the Army’s official fundraising entity for the Capital Campaign for the National Museum of the United States Army. The award-winning, LEED- certified Museum opened on November 11, 2020, at Fort Belvoir, Va., and honors the service and sacrifice of all American Soldiers who have served since the Army’s inception in 1775. For more information on the Foundation and the National Museum of the United States Army, visit www.armyhistory.org.

    Official photographer for The Miller Group and its affiliated entities – Gordon Murray, 480 205-9691 (www.flashpv.com)

       
    Contact: Contact:
    The Army Historical Foundation Miller Capital Corporation
    Lydia Pitea Kristina McDaniel
    Senior Donor Relations Manager Vice President Admin & Corporate Controller
    lydia.pitea@armyhistory.org kmcdaniel@themillergroup.net
    973.632.1244 602.225.0505
       

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ec64ce26-7579-48b1-9fe9-9388078f1411

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3b9eef90-f7c5-427f-9de6-05efa2a0daf5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/cf3a312d-a7fa-4374-9fb0-efebf75aa551

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e0d35d5a-9a50-4004-886c-a838fc8936c5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a0900908-b6ab-4d6f-bf2f-e3bc81e5ba64

    The MIL Network –

  • MIL-OSI: First Pacific Bancorp Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WHITTIER, Calif., May 07, 2025 (GLOBE NEWSWIRE) — First Pacific Bancorp (the “Company”) (OTC Pink: FPBC), the holding company for First Pacific Bank (the “Bank”), today reported consolidated results for the first quarter ending March 31, 2025, marking its eighth consecutive quarter of profitability. The Company remains well-capitalized, with a healthy liquidity position supported by a stable core deposit base and access to substantial sources of liquidity.

    Highlights for the first quarter of 2025 include:

    • Total assets ended the first quarter 2025 at $456 million, up $23 million from $433 million at year end 2024.
    • Total deposits ended the first quarter 2025 at $390 million, up $39 million since year end 2024.
    • Total loans ended the first quarter 2025 at $294 million, up $17 million from year end 2024.
    • Asset quality remains excellent with minimal levels of classified or non-performing assets.
    • The Bank ended the first quarter with a strong capital position, with a leverage capital ratio of 9.0% and a total risk-based capital ratio of 12.7%.
    • As of March 31, 2025, cash and cash equivalents totaled $47 million, including funds invested overnight, up $6 million since year end 2024.
    • Unused borrowing capacity from credit facilities on March 31, 2025, totaled $187 million.

    For the first quarter ending March 31, 2025, the Company realized a pre-tax, pre-provision profit of $550 thousand, compared to a pre-tax, pre-provision profit of $702 thousand in Q4 2024 and $222 thousand in Q1 2024. Net income for the first quarter of 2025 was $393 thousand, up from $162 thousand in Q1 2024.    

    Asset quality remains excellent with minimal non-performing assets, an allowance for credit losses of 1.08% of total loans, and zero loan losses.

    “We are pleased with the momentum we’ve carried into 2025. Our diversified business model, prudent risk management, and focus on operational discipline continue to position us for sustained performance in a dynamic environment,” said Joe Matranga, Chairman of the Board.

    “We delivered strong first quarter results, driven by consistent performance across our markets and continued growth in both loans and deposits,” said Nathan Rogge, President and Chief Executive Officer. “As we execute our client-focused strategy and invest in infrastructure and technology, we are well positioned for long-term success. Our recent move to a larger San Diego regional office reflects our confidence in future growth and our ongoing commitment to serving our clients.”

    ABOUT FIRST PACIFIC BANK

    First Pacific Bank is a wholly owned subsidiary of First Pacific Bancorp (OTC Pink: FPBC) and is a growing community bank catering to individuals, professionals, and small-to-medium sized businesses throughout Southern California. Since opening in 2006, the Bank has offered a personalized approach, access to decision makers, a broad range of solutions, and a commitment to delivering an exceptional customer experience. First Pacific Bank operates locations in Los Angeles County, Orange County, San Diego County, and the Inland Empire. For more information, visit firstpacbank.com or call 888.BNK.AT.FPB.

    FORWARD-LOOKING STATEMENTS

    This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, and First Pacific Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely. Forward-looking statements relate to, among other things, our business plan, and strategies, and can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” and similar expressions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Factors that might cause such differences include, but are not limited to: successfully realizing the benefits of our business strategy and plans,; changes in general economic and financial market conditions, either nationally or locally, in areas in which First Pacific Bank conducts its operations; effects of inflation and changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; impact of any natural disasters, including earthquakes; effect of governmental supervision and regulation, including any regulatory or other enforcement actions; legislation or regulatory changes which adversely affect First Pacific Bank’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company does not undertake, and specifically disclaims any obligation to update any forward-looking statements to reflect occurrences or unanticipated events, or circumstances after the date of such statements except as required by law.  

    — Summary Financial Tables Follow —

    First Pacific Bancorp 
    Consolidated Balance Sheets
    (Unaudited)
      Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
    ASSETS          
    Cash and due from banks $ 8,042,164   $ 4,708,926   $ 23,584,084   $ 4,671,483   $ 7,317,500  
    Fed funds sold & int-bearing balances   39,250,000     36,290,000     25,520,000     37,860,000     37,575,000  
    Total cash and cash equivalents   47,292,164     40,998,926     49,104,084     42,531,483     44,892,500  
               
    Debt securities (AFS)   1,859,740     1,866,022     3,041,852     3,077,666     5,138,340  
    Debt securities (HTM)   99,099,346     100,257,560     101,260,391     102,202,926     103,474,749  
    Total debt securities   100,959,086     102,123,582     104,302,243     105,280,592     108,613,089  
               
    Construction & land development   25,245,823     23,320,351     23,067,204     24,651,513     25,480,398  
    1-4 Family residential   63,536,698     58,588,090     58,082,570     68,588,393     68,521,663  
    Multifamily residential   30,452,183     28,561,276     28,966,811     26,800,829     26,947,419  
    Nonfarm, nonresidential real estate   105,299,777     100,066,570     99,715,860     94,643,169     97,893,840  
    Commercial & industrial   64,956,570     62,322,690     57,342,017     53,504,969     54,785,564  
    Consumer & Other   4,572,607     4,525,108     780,639     1,831,036     1,123,918  
    Total loans   294,063,658     277,384,085     267,955,101     270,019,909     274,752,802  
    Allowance for credit losses (loans)   (3,179,637 )   (3,179,637 )   (3,109,975 )   (3,109,975 )   (3,109,975 )
    Total loans, net   290,884,021     274,204,448     264,845,126     266,909,934     271,642,827  
               
    Premises, equipment, and ROU net   2,822,403     1,328,964     1,452,886     1,714,833     1,992,588  
    Goodwill, core deposit & other intangibles   1,259,139     1,273,134     1,287,129     1,298,084     1,313,367  
    Bank owned life insurance   5,317,491     5,287,738     5,257,550     5,227,763     5,198,654  
    Accrued interest and other assets   7,703,693     7,755,355     7,505,380     7,476,554     7,415,609  
               
    Total Assets $ 456,237,997   $ 432,972,147   $ 433,754,398   $ 430,439,243   $ 441,068,634  
               
    LIABILITIES AND SHAREHOLDERS’ EQUITY          
    Deposits:          
    Noninterest-bearing demand $ 143,205,484   $ 131,515,568   $ 129,473,091   $ 144,240,187   $ 133,945,262  
    Interest-bearing transaction accounts   39,203,360     28,454,639     24,660,000     24,797,108     28,166,207  
    Money market and savings   162,563,677     146,423,126     143,270,628     143,497,864     148,732,230  
    Time deposits   44,568,676     44,302,867     44,388,137     41,060,590     38,662,227  
    Total deposits   389,541,197     350,696,200     341,791,856     353,595,749     349,505,926  
               
    Borrowings   23,000,000     40,000,000     50,000,000     35,000,000     50,000,000  
    Accrued interest and other liabilities   3,952,095     3,122,902     3,430,132     3,781,444     3,936,909  
    Total liabilities   416,493,292     393,819,102     395,221,988     392,377,193     403,442,835  
               
    Shareholders’ Equity:          
    Capital stock and APIC   37,389,068     37,272,567     37,117,627     36,970,386     36,788,606  
    Retained earnings   3,043,502     2,650,877     2,151,305     1,902,788     1,705,174  
    Accum other comprehensive income   (687,865 )   (770,399 )   (736,522 )   (811,124 )   (867,981 )
    Total shareholders’ equity   39,744,705     39,153,045     38,532,410     38,062,050     37,625,799  
               
    Total Liabilities and Shareholders’ Equity $ 456,237,997   $ 432,972,147   $ 433,754,398   $ 430,439,243   $ 441,068,634  
               
    First Pacific Bancorp
    Consolidated Income Statements – Quarterly
    (Unaudited)
               
      Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
    INTEREST INCOME          
    Loans, including fees $ 4,788,107   $ 4,814,128   $ 4,817,174   $ 4,655,844   $ 4,700,535  
    Debt securities   462,472     484,508     499,268     514,613     543,857  
    Fed funds & int-bearing balances   339,864     419,597     450,166     573,022     410,685  
    Total interest income   5,590,443     5,718,233     5,766,608     5,743,479     5,655,077  
               
    INTEREST EXPENSE          
    Deposits   1,812,760     1,777,351     1,790,578     1,687,121     1,746,032  
    Borrowings   219,832     332,375     444,250     524,599     507,390  
    Total interest expense   2,032,592     2,109,726     2,234,828     2,211,720     2,253,422  
               
    Net interest income   3,557,851     3,608,507     3,531,780     3,531,759     3,401,655  
               
    Provision for credit losses   –     –     –     –     –  
               
    Net interest income after provision   3,557,851     3,608,507     3,531,780     3,531,759     3,401,655  
               
    NONINTEREST INCOME          
    Service charges, fees and other income   122,610     119,173     106,628     96,460     108,365  
    Sublease income   45,222     –     53,975     52,970     53,872  
    Gains (losses) on sale of assets   –     –     15,335     –     –  
    Gains on early payoff of debt   –     54,125     –     144,325     –  
    Total noninterest income   167,832     173,298     175,938     293,755     162,237  
               
    NONINTEREST EXPENSE          
    Salaries and benefits   2,119,302     1,984,774     2,154,290     2,182,674     2,178,486  
    Occupancy and equipment   259,480     258,180     374,069     363,695     368,816  
    Other expense   797,261     836,692     834,281     1,007,247     794,158  
    Total noninterest expense   3,176,043     3,079,646     3,362,640     3,553,616     3,341,460  
               
    Income before income tax expense   549,640     702,159     345,078     271,898     222,432  
               
    Income tax expense (benefit)   157,015     202,586     96,563     74,281     60,524  
               
    Net Income $ 392,625   $ 499,573   $ 248,515   $ 197,617   $ 161,908  
               
    Earnings per share basic (QTR) $ 0.09   $ 0.12   $ 0.06   $ 0.05   $ 0.04  
    Weighted average shares outstanding (QTR)   4,333,735     4,293,829     4,288,851     4,283,351     4,281,653  
               
    First Pacific Bancorp
    Quarterly Financial Highlights
    (Unaudited)
                 
        Quarterly
        2025 2024 2024 2024 2024
    ($$ in thousands except per share data)   1st Qtr 4th Qtr 3rd Qtr 2nd Qtr 1st Qtr
    EARNINGS            
    Net interest income $ 3,558   3,609   3,532   3,532   3,402  
    Provision for loan losses $ 0   0   0   0   0  
    Noninterest income $ 168   173   176   294   162  
    Noninterest expense $ 3,176   3,080   3,363   3,554   3,341  
    Income tax expense $ 157   203   97   74   61  
    Net income $ 393   500   249   198   162  
                 
    Earnings per share basic $ 0.09   0.12   0.06   0.05   0.04  
    Weighted average shares outstanding   4,333,735   4,293,829   4,288,851   4,283,351   4,281,653  
    Ending shares outstanding   4,335,088   4,294,500   4,291,927   4,283,351   4,283,351  
                 
    PERFORMANCE RATIOS            
    Return on average assets   0.37 % 0.47 % 0.23 % 0.18 % 0.15 %
    Return on average common equity   4.05 % 5.12 % 2.58 % 2.10 % 1.73 %
    Yield on loans   6.79 % 6.91 % 6.98 % 6.97 % 6.84 %
    Yield on earning assets   5.44 % 5.50 % 5.58 % 5.52 % 5.49 %
    Cost of deposits   2.00 % 1.98 % 2.05 % 1.96 % 2.05 %
    Cost of funding   2.12 % 2.18 % 2.32 % 2.28 % 2.35 %
    Net interest margin   3.46 % 3.47 % 3.42 % 3.40 % 3.31 %
    Efficiency ratio   85.2 % 81.4 % 90.7 % 92.9 % 93.8 %
                 
    CAPITAL            
    Tangible equity to tangible assets   8.46 % 8.77 % 8.61 % 8.57 % 8.26 %
    Book value (BV) per common share $ 9.17   9.12   8.98   8.89   8.78  
    Tangible BV per common share $ 8.88   8.82   8.68   8.58   8.48  
                 
    ASSET QUALITY            
    Net loan charge-offs (recoveries) $ 0   0   0   0   0  
    Allowance for credit losses (loans) $ 3,180   3,180   3,110   3,110   3,110  
    Allowance to total loans   1.08 % 1.15 % 1.16 % 1.15 % 1.13 %
    Nonperforming loans $ 849   672   991   77   160  
                 
    END OF PERIOD BALANCES            
    Total loans $ 294,064   277,384   267,955   270,020   274,753  
    Total assets $ 456,238   432,972   433,754   430,439   441,069  
    Deposits $ 389,541   350,696   341,792   353,596   349,506  
    Loans to deposits   75.5 % 79.1 % 78.4 % 76.4 % 78.6 %
    Shareholders’ equity $ 39,745   39,153   38,532   38,062   37,626  
    Full-time equivalent employees   46   49   44   44   46  
                 
    AVERAGE BALANCES (QTRLY)            
    Total loans $ 286,119   276,301   273,960   267,766   275,578  
    Earning assets $ 416,486   412,424   410,298   416,965   412,791  
    Total assets $ 430,891   425,750   424,199   430,830   426,592  
    Deposits $ 368,363   355,369   346,142   346,032   341,226  
    Shareholders’ equity $ 39,326   38,746   38,267   37,788   37,443  
                           

    The MIL Network –

  • MIL-OSI Banking: Policy Statement: Framework for Formulation of Regulations

    Source: Reserve Bank of India

    1. Introduction

    This Framework for Formulation of Regulations (hereinafter referred to as ‘the Framework’) lays down the broad principles for formulation and amendment of Regulations by the Reserve Bank of India (hereinafter referred to as “the Bank”). The Framework seeks to standardize the process of making Regulations in a transparent and consultative manner after conducting impact analysis, as may be feasible.

    2. Definition:

    (1) For the purpose of this Framework, “Regulations” shall include all regulations, directions, guidelines, notifications, orders, policies, specifications, and standards as issued by the Bank in exercise of the powers conferred on it by or under the provisions of the Acts and Rules, given in Annex.

    (2) The Bank may also follow the process laid down in the Framework for any other regulation, direction, guideline, notification, order, policy, specification, or standard made pursuant to any other legal provisions, as deemed fit.

    3. Public Consultation

    (1) Before issuance of a Regulation, the Bank shall publish the draft of such Regulation along with a statement of particulars on the Bank’s official website (www.rbi.org.in) and seek public comments.

    (2) The statement of particulars shall, among others, include:

    1. the enabling provision(s) that empower the Bank to issue the Regulation;

    2. the objective(s) of the Regulation, including an impact analysis, to the extent feasible;

    3. guidance from the international standard setting bodies and best practices, if any;

    4. the manner of implementation of the Regulation; and

    5. the timelines for receiving comments from the public.

    (3) The Bank shall provide at least 21 days to the stakeholders and members of public to submit their comments.

    (4) The Bank shall consider the public feedback and provide a general statement of its response to the comments received, along with the final Regulation, on its website.

    (5) If the Bank decides to issue the final Regulation in a form substantially different from the draft that was issued for public comments, it may choose to repeat the process under this Framework.

    (6) The final Regulation shall be published promptly post the receipt of approval from the competent authority and its date of enforcement shall be from the date specified therein.

    (7) The Bank may explore additional mechanism(s) for engaging with stakeholder(s), as considered appropriate. In particular, it may, where deemed necessary, issue a discussion paper eliciting response to issues and questions for consultation, before preparing and publishing the draft of the Regulation.

    4. Impact Analysis of the Regulation

    Before finalizing the Regulation, the Bank shall conduct an impact analysis of the Regulation, to the extent feasible.

    5. Amendment to the Regulation

    Any significant amendments to the Regulation shall be subject to the process laid down in paragraphs 3 and 4 above.

    6. Review of the Regulation

    While the Bank shall update, amend or repeal the existing Regulations, as deemed necessary, it shall periodically undertake a review of the Regulations in force, keeping in view:

    1. the stated objective(s);

    2. experience gained through surveillance, supervision and enforcement actions;

    3. relevant orders passed by courts or tribunals;

    4. global best practices or standards prescribed by international standard setting bodies;

    5. its relevance in a changed environment;

    6. the scope for reducing redundancies; and

    7. any other factor considered relevant by the Bank.

    7. Non-applicability on certain matters

    (1) The provisions of this Framework shall not be applicable to any Regulation made or amended which pertain to:

    1. an internal, administrative or organizational matter as determined by the Bank, including those governing the conduct of its meetings, administration and service conditions of its officers and employees;

    2. a procedural matter which does not result in any substantive change or impact on any existing Regulation; and

    3. any Regulation issued to a specific entity or entities and is not general in nature.

    (2) The Bank may, after recording reasons, dispense with or suitably modify any or all provisions of this Framework in matters where –

    1. in the opinion of the Bank, confidentiality is to be maintained; or,

    2. following the procedure under this Framework would defeat the objective(s) or purpose of the proposed Regulation;

    3. for reasons of public interest, the Bank considers it expedient to do so; and

    4. any urgent intervention required.

    8. Savings

    (1) Notwithstanding anything contained in this Framework, a Regulation which is in force as on the date of issuance of this Framework shall continue remain valid, though future changes would be subject to the procedure envisaged herein.

    (2) No Regulation issued by the Bank, or any action taken under this Framework shall be invalid merely by reason of non-adherence to any provision specified herein.

    Annex

    Act Sections/Rules
    The Reserve Bank of India Act, 1934 28, 28A, 42(2), 45C, 45J, 45JA, 45K, 45L, 45MA, 45W, 58
    The Banking Regulation Act, 1949 21, 24(2A), 26A, 35A, 35AA, 35AB
    The National Housing Bank Act, 1987 30, 30A, 32, 33
    The Payment and Settlement Systems Act, 2007 10, 18, 38
    The Credit Information Companies (Regulation) Act, 2005 10,11,13, 37
    The Factoring Regulation Act, 2011 6, 31A
    The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 12, 12A
    The Foreign Exchange Management Act, 1999 10(4), 11, 47
    Government Securities Act, 2006 29, 32
    The Prevention of Money-laundering (Maintenance of Records) Rules 2005 9(14)
    The Special Economic Zones Act, 2005 17(3)

    MIL OSI Global Banks –

  • MIL-OSI Africa: Wiring Africa’s industrial future: African Development Bank’s helping to spur Botswana’s automotive revolution

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

    ABIDJAN, Ivory Coast, May 7, 2025/APO Group/ —

    The Botswanan town of Lobatse, some 70 km south of Gaborone, has been transformed into a vibrant manufacturing centre. Across sprawling factory floors, hundreds of skilled hands meticulously assemble intricate wiring harnesses – components that will eventually power Volkswagen and Nissan vehicles across Africa and beyond.

    In the automotive industry, wire harnesses are an intricate arrangement of wires, connectors, and components. They serve as vehicles’ central nervous systems, enabling the  transmission of electrical signals and power throughout the automobile.

    This is Delta Automotive Technologies, where strategic financing from the African Development Bank has catalysed a manufacturing renaissance that extends far beyond the factory wallsThe company makes wiring harnesses primarily for Volkswagen and Nissan.. For decades, Botswana’s economic history was written in diamonds. Today, a new chapter is unfolding as the African Development Bank’s $80 million credit line to the Botswana Development Corporation (BDC) for businesses in the country fuels Delta Automotive’s transformation into a manufacturing powerhouse.

    “This funding hasn’t just built infrastructure – it’s built opportunity,” says Darryn Hattingh, Delta’s Director of Manufacturing. “We’ve built a world-class operation that competes globally while creating opportunity locally. The support enables us to industrialise not just today’s production lines, but tomorrow’s innovations. It will support us to industrialise future businesses obtained through Volkswagen.”

    The firm, which is based in Botswana, makes wiring harnesses for  Volkswagen’s Polo Vivo and Polo 270, and Nissan’s H60 brands.

    It currently makes 120 vehicle harness sets for Volkswagen South Africa per day. By 2027, it hopes to create 340 vehicle sets for Volkswagen and 111 for Nissan in South Africa.

    Women powering an industrial revolution

    As one walks through Delta’s expansive manufacturing facility, one fact is immediately apparent: in a traditionally male-dominated industry, women’s expertise is driving this operation forward. An impressive 75% of Delta’s workforce is female, shattering glass ceilings with every wire harness assembled.

    For Clara Kaekane, a product and process engineer at Delta, the significance goes beyond personal achievement: “Every component we make is a challenge to outdated assumptions about gender and engineering work. I’m not just building car parts – I’m building a new perception of what is possible for women in manufacturing across Africa.”

    Kaekane feels empowered to work at the management level in the automotive industry, which is normally male-dominated.

    “This is a great opportunity for our country and company,” she says.

    Connecting communities to global value chains

    The hum of activity at Delta’s plant represents more than manufacturing – it is the sound of Botswana’s integration into sophisticated global supply networks. Currently producing 120 vehicle wiring harnesses daily, with plans to nearly triple output by 2027, Delta is an example of how African manufacturers can excel in precision-demanding global industries.

    “What is happening here is the physical manifestation of our High 5 development priorities, particularly  ‘Industrialize Africa’ and ‘Integrate Africa’. It also provides skills to the people of Africa,” said the African Development Bank’s Deputy Director General for Southern Africa, Moono Mupotola. “Each wire harness connects not just vehicle components, but Botswana’s workforce to global value chains, rural communities to industrial opportunities, and traditional economies to a diversified future.”

     Scaling impact: From hundreds to thousands

    The numbers tell a compelling story: There are 327 employees today, expected to grow to 1,000 within four years. Behind those numbers are families supported, skills developed, and communities transformed. With 95% of the workforce Botswana nationals, the company has become a major driver of local economic empowerment.

    “We’re seeing multiple development dividends from this single investment,” says Benedicta Abosi of BDC. “Delta’s growth is generating export earnings, creating quality jobs, developing technical skills and, perhaps most importantly, demonstrating what’s possible when development finance meets entrepreneurial vision.”

    She explained that five years ago, the Botswana Development Corporation supported multiple businesses, including Delta Automotive Technologies, through a $80 million line of credit facility from the African Development Bank.

    A blueprint for African industrial transformation, Delta’s success offers a replicable model for industrial development across the continent. By strategically supporting companies integrated into global supply chains, development finance can simultaneously address unemployment, gender inequality, economic diversification, and regional integration.

    As workers at Delta Automotive Technologies continue to assemble the components that will power vehicles across the region; they’re also creating a template for how African development finance can catalyse inclusive industrial transformation.

    “This has definitely been a good investment for the African Development Bank, and this is how we see development financing working in Africa, Mupotola added.

    MIL OSI Africa –

  • MIL-OSI Security: Police appeal for information after death of a man in Soho

    Source: United Kingdom London Metropolitan Police

    Detectives are seeking witnesses after a man fell from height in Brewer Street, Soho during the early hours of Saturday, 3 May.

    Officers were called to a residential property in Brewer Street at 02:02hrs that morning. Despite the best efforts of first responders, 22-year-old Ryley Harbord sadly died at the scene.

    His death is being treated as unexpected and is under investigation at this stage.

    Officers are appealing for anyone who saw or spoke to Ryley on the evening of Friday 2, May to come forward. They are particularly interested in hearing from those who had contact with him between 19:00hrs on Friday and 02:00hrs on Saturday.

    Detective Chief Inspector Anne Linton, who is leading the investigation, said:

    “First and foremost, our thoughts are with Ryley’s family as they come to terms with this tragic loss. This is an unimaginably difficult time for them.

    “Soho was bustling at the start of a Bank Holiday, which means there is a likelihood someone saw or spoke to Ryley. If this is you, you may hold really important information that helps us piece together the circumstances surrounding Ryley’s death and we would ask you to please get in touch with us as soon as possible.”

    Anyone who can help is asked to contact police via 101, quoting 217/3May, or if you wish to remain anonymous go through CrimeStoppers on 0800 555 111.

    MIL Security OSI –

  • MIL-OSI Banking: Fannie Mae Publishes April 2025 National Housing Survey Results

    Source: Fannie Mae

    Follow Fannie Mae
    fanniemae.com

    Media Contact
    Matthew Classick
    202-752-3662

    Fannie Mae Newsroom
    https://www.fanniemae.com/news

    Photo of Fannie Mae
    https://www.fanniemae.com/resources/img/about-fm/fm-building.tif

    Fannie Mae Resource Center
    1-800-2FANNIE

    Opinions, analyses, estimates, forecasts and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views, including assumptions about the duration and magnitude of shutdowns and social distancing, could produce materially different results. The analyses, opinions, estimates, forecasts and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

    MIL OSI Global Banks –

  • MIL-OSI: Genesis Model Context Protocol Server Enables AI-Driven Automation and Innovation in Financial Markets

    Source: GlobeNewswire (MIL-OSI)

    LONDON and NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) — Genesis Global launched a Model Context Protocol (MCP) Server to govern how AI agents interface with software built with the Genesis Application Platform.

    MCP is an open protocol that standardizes how software applications provide context to LLMs. Excitement for MCP is growing in the financial sector as firms see its potential to amplify the utility and value of their software investments.

    “It’s widely accepted that AI is set to transform the financial industry. But to unlock its full potential, firms need more than just smart models – they need smart software infrastructure,” said Stephen Murphy, CEO and co-founder of Genesis Global. “Enabling AI agents to safely interface with applications is a powerful opportunity for innovation through intelligent integrations and helps users get more horsepower from existing technologies. Our MCP Server is the latest example of AI becoming fundamental to our platform.”

    The Genesis MCP Server is a controlled gateway that makes Genesis applications discoverable to a firm’s AI tools and enables selective AI-driven actions within the application.

    By design, the Genesis Application Platform provides guardrails to make AI a predictable and compliant actor within the platform and, by extension, clients’ technology ecosystems. Application owners have complete control over the Genesis MCP Server and can specify which application functions AI agents can access. In addition, all interactions via the Genesis MCP Server can be subject to the same permissions and entitlements model as the underlying application. It also supports human-in-the-loop capabilities for people to approve AI actions.

    “Just as REST enabled APIs to transform how software was deployed, MCP can help financial firms unlock new levels of innovation, connectivity and efficiency,” said Tej Sidhu, Chief Technology Officer at Genesis Global. “Our MCP Server gives users maximum control over how AI can interact with a Genesis application, enabling our clients to experiment and innovate without compromising the governance of their technology.”

    The MCP Server empowers Genesis application users to be more innovative and productive by allowing them to:

    • Create complex business outcomes by combining operations from Genesis and other MCP-enabled applications
    • Extract Genesis application data and use LLMs to perform actions on it (e.g., summarize, aggregate, format, transform, etc.)
    • Interact with an application from a conversational interface

    The MCP Server is part of the high-performance runtime delivered by the Genesis Application Platform. It is an optional integration for all Genesis applications running on versions 8.11+ of Genesis.

    Genesis applications do not need reconfiguration to operate with an MCP Server.

    A short Genesis video shows the interplay between an AI agent, MCP Server and the connected application.

    About Genesis Global
    Genesis Global enables financial markets organizations to innovate at speed through its software application development platform and deep expertise in capital markets and financial services.

    The Genesis platform is designed with flexibility and performance at its core, providing developers with the frameworks, integrations and components required to automate manual workflows, enhance legacy systems and build entirely new applications. Featuring a resilient, real-time service-oriented architecture, Genesis excels across the performance envelope of low-latency, high-throughput and high-scalability, powering mission-critical applications at the world’s leading financial institutions.​

    Strategically backed by Bank of America, BNY Mellon and Citi, Genesis Global has offices in London, New York, Miami, Charlotte, São Paulo, Dublin and Bengaluru.

    Media contact:
    Alex Paidas, Corporate Communications, Genesis Global
    alex.paidas@genesis.global    +1 646 246 4889

    The MIL Network –

  • MIL-OSI: Fastest Payout Online Casinos: JACKBIT Ranked #1 for Instant Withdrawals with No Verification

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, May 07, 2025 (GLOBE NEWSWIRE) — In the dynamic world of online gambling, speed is a game-changer. Players want their winnings quickly, without delays or complicated processes. After evaluating numerous platforms, JACKBIT stands out as the fastest payout online casino for 2025.

    START PLAYING WITH JACKBIT – NO KYC, JUST FUN, AND FAST PAYING!

    Renowned for its instant withdrawal casino capabilities, JACKBIT processes cryptocurrency withdrawals in under 10 minutes, often instantly, setting a new standard for best online casinos that payout instantly. With over 6,000 games, generous bonuses, and a player-centric design, JACKBIT is the ultimate destination for those seeking a fast payout casino.

    This comprehensive review explores why JACKBIT is the best fast payout casino, detailing its features, promotions, game variety, payment methods, and more. Whether you’re spinning slots, playing live dealer games, or betting on sports, JACKBIT delivers a seamless experience that prioritizes speed, security, and satisfaction.

    Why JACKBIT Stands Out as the Fastest Payout Online Casino

    JACKBIT has redefined online gambling by prioritizing payout speed, a critical factor for players seeking same day withdrawal online casinos. Its use of blockchain technology enables instant pay casino withdrawals, with crypto transactions often completed in minutes. This efficiency is complemented by a no-KYC policy for crypto users, ensuring privacy and a hassle-free experience.

    Beyond speed, JACKBIT offers an extensive game library of over 6,000 titles, sourced from 90+ top providers like NetEnt, Microgaming, and Evolution Gaming. From classic slots to live dealer games and a robust sportsbook, the platform caters to every gaming preference. Its mobile-optimized design and intuitive interface make it accessible on any device, positioning JACKBIT as a leader among the fastest paying online casinos.

    JOIN JACKBIT NOW AND GAMBLE PRIVATELY WITH NO KYC REQUIRED!

    JACKBIT Casino Features: A Comprehensive Overview

    JACKBIT’s appeal as the fastest payout online casino is rooted in its robust features, designed to enhance the player experience:

    Feature Details
    Welcome Bonus 30% Rakeback + 100 wager-free spins on first deposit + No KYC
    Game Count Over 6,000 titles from 90+ providers
    Payment Methods 16+ cryptocurrencies, Visa, MasterCard, Google Pay, Apple Pay
    Withdrawal Speed Instant crypto withdrawals (under 10 minutes)
    Customer Support 24/7 via live chat and email
    License Curacao Gaming Authority
    • Welcome Bonuses: New players receive a 30% Rakeback bonus + no KYC and 100 free spins, providing a strong start without wagering requirements on spins.
    • Expansive Game Library: Over 6,000 games, including slots, table games, live dealers, and sports betting, ensure variety for all players.
    • Cryptocurrency Payments: Supports 16+ cryptocurrencies, such as Bitcoin, Ethereum, and Tether, for fast, secure transactions.
    • No KYC for Crypto Users: Crypto players enjoy anonymity, bypassing extensive verification processes.
    • Instant Withdrawals: JACKBIT’s online casino instant payout system processes crypto withdrawals in minutes, often instantly.
    • Mobile-Friendly Design: Optimized for desktops, smartphones, and tablets, offering flexibility for on-the-go gaming.
    • Sportsbook: Covers 140+ sports, including football, esports, and virtual sports, with competitive odds and live betting.

    These features make JACKBIT a benchmark for quick pay casino experiences, appealing to players worldwide.

    Promotions and Incentives at JACKBIT

    JACKBIT keeps players engaged with a variety of promotions:

    • Welcome Bonus: 30% Rakeback+ no KYC + 100 free spins on the first deposit, with no wagering requirements on spins, allowing immediate use of winnings.
    • Weekly Giveaways: Compete for a share of $10,000 in cash and 10,000 free spins, adding excitement to regular play.
    • VIP Program: Earn up to 30% Rakeback through the Rakeback VIP Club, rewarding loyal players with cashback and exclusive perks.
    • Social Media Bonuses: Engage with JACKBIT on platforms like X for exclusive rewards, such as bonus spins or cash prizes.
    • Pragmatic Drops & Wins: Participate in slot and live game tournaments with a €2,000,000 prize pool, offering significant winning opportunities.

    CLAIM YOUR 30% RAKEBACK AND 100 FREE SPINS – NO WAGERING REQUIRED!

    These promotions, with fair terms, position JACKBIT among the best online casinos fast payout for value-driven players.

    What Sets JACKBIT Apart from Other Crypto Casinos?

    JACKBIT distinguishes itself from competitors in several ways:

    • Unmatched Payout Speed: While many crypto casinos take hours or days, JACKBIT delivers funds in minutes, making it the fastest paying online casino.
    • Diverse Game Selection: With over 6,000 games, JACKBIT surpasses rivals, offering everything from slots to niche esports betting.
    • Privacy Focus: The no-KYC policy for crypto users ensures anonymity, a feature not all instant withdrawal casinos provide.
    • Generous Promotions: Bonuses like rakeback and tournaments come with fair terms, unlike some casinos with restrictive requirements.
    • Sports Betting Integration: Unlike many crypto-focused platforms, JACKBIT’s sportsbook adds versatility, appealing to a broader audience.

    These advantages make JACKBIT a standout new instant withdrawal casino for 2025.

    Pros and Cons of JACKBIT Casino

    To offer a balanced perspective, here’s a detailed look at JACKBIT’s strengths and weaknesses:

    Pros Cons
    Fastest payout online casino with instant crypto withdrawals No dedicated mobile app (mobile-optimized site available)
    Over 6,000 games from 90+ providers Withdrawals are crypto-only, limiting fiat options
    No KYC policy for crypto users Some bonuses have specific wagering requirements
    Supports 16+ cryptocurrencies and fiat deposits Curacao license may not suit players seeking stricter regulation
    24/7 multilingual customer support  
    Generous bonuses, including 30% Rakeback and 100 free spins  

    These factors make JACKBIT a compelling choice among online casinos with instant withdrawal, though players should weigh the cons based on their preferences.

    How to Join JACKBIT Casino

    Joining JACKBIT is a quick and user-friendly process, ideal for players seeking an instant pay casino:

    1. Visit JACKBIT: Click here to navigate to the official website and click “Sign Up.”
    2. Register: Enter your email address and a secure password. Crypto users skip KYC verification for faster setup.
    3. Verify Email: Confirm your account via the verification email sent by JACKBIT.
    4. Deposit Funds: Choose from 16+ cryptocurrencies or fiat methods like Visa or MasterCard. Meet the minimum deposit to activate the welcome bonus.
    5. Claim Welcome Bonus: Enter the promo code to receive the 30% Rakeback and 100 free spins.
    6. Start Playing: Explore the game library and enjoy the fast payout casino experience.

    This streamlined process reflects JACKBIT’s commitment to accessibility, making it a top pick for those seeking same day withdrawal online casinos.

    How We Selected JACKBIT as the Fast Paying Online Casino

    Our selection process for the best online casinos that payout instantly was rigorous, ensuring only the most reliable platforms were recommended. We evaluated JACKBIT based on the following criteria:

    • License and Security: JACKBIT is fully licensed under the Curacao Gaming License, offering a secure environment with SSL encryption. The platform also ensures fairness with provably fair games, giving players peace of mind and transparency.
    • Bonuses and Promotions: We focused on casinos that offer fair and generous bonuses. JACKBIT stands out with its great welcome bonus and ongoing promotions that give players excellent value.
    • Game Variety: A diverse game library is essential. JACKBIT offers over 6,000 games, including slots, table games, and sports betting, making sure there’s something for every type of player.
    • Casino Game Providers: JACKBIT partners with well-known providers like NetEnt and Evolution Gaming to ensure top-quality and fair games.
    • Banking Methods: Fast, secure payment options are critical. JACKBIT’s crypto-focused approach, with instant withdrawals, excels in this area.
    • Customer Support: 24/7 availability and responsiveness are key. JACKBIT’s multilingual support team ensures player satisfaction.
    • User Experience: An intuitive, mobile-friendly interface enhances accessibility. JACKBIT’s sleek design and fast loading times deliver a seamless experience.

    JACKBIT outperformed competitors across these metrics, earning its title as the best fast payout casino for 2025.

    License and Security

    JACKBIT operates under a Curacao Gaming License, ensuring compliance with industry standards for fair play and player protection. While Curacao’s regulations are less stringent than those of the UKGC or MGA, they provide a solid framework for a secure gaming environment. The platform employs advanced SSL encryption to safeguard player data and transactions, and its provably fair crypto games allow players to verify game outcomes independently.

    The no-KYC policy for crypto users is a significant advantage for privacy-conscious players, enabling anonymous play without compromising security. This feature positions JACKBIT as a leader among fast payout online casinos for those prioritizing discretion.

    Bonuses and Promotions

    JACKBIT’s bonuses enhance the gaming experience for both new and returning players:

    • Welcome Bonus: 30% Rakeback + 100 free spins on the first deposit, with no wagering requirements on spins, allowing immediate use of winnings.
    • Weekly Giveaways: Compete for a share of $10,000 in cash and 10,000 free spins, adding excitement to regular play.
    • VIP Program: Earn up to 30% Rakeback through the Rakeback VIP Club, rewarding loyal players with cashback and exclusive perks.
    • Social Media Bonuses: Engage with JACKBIT on platforms like X for exclusive rewards, such as bonus spins or cash prizes.
    • Pragmatic Drops & Wins: Participate in slot and live game tournaments with a €2,000,000 prize pool, offering significant winning opportunities.

    These promotions, combined with fair terms, make JACKBIT a top choice among best online casinos fast payout for value-driven players.

    Casino Games

    JACKBIT’s game library is a cornerstone of its appeal, offering over 6,000 titles across multiple categories. This diversity ensures it caters to all player preferences, solidifying its status as a fast payout casino.

    GET IN THE GAME NOW – NO KYC, SECURE PLAY, AND MORE!

    Online Slots

    Slots dominate JACKBIT’s offerings, with over 5,000 titles ranging from classic 3-reel games to modern video slots and progressive jackpots. Popular games include:

    • Starburst (NetEnt): A vibrant slot with 96.09% RTP and expanding wilds.
    • Gates of Olympus (Pragmatic Play): A high-volatility slot with 96.50% RTP and cascading wins.
    • Book of Dead (Play’n GO): An adventure-themed slot with 96.21% RTP and free spins.
    • Mega Moolah (Microgaming): A progressive jackpot slot with life-changing payout potential.

    These games, with high RTPs and engaging features, make JACKBIT a prime destination for slot enthusiasts.

    Blackjack

    Blackjack players can enjoy multiple variants, including:

    • European Blackjack: Low house edge of 0.5% with basic strategy.
    • Atlantic City Blackjack: Multi-hand options for strategic play.
    • Vegas Strip Blackjack: Popular for its player-friendly rules.

    Live blackjack tables, powered by Evolution Gaming, add an immersive element, appealing to players at instant withdrawal casinos.

    Roulette

    Roulette options include European, French, and American variants:

    • European Roulette: 2.7% house edge, ideal for beginners.
    • French Roulette: 1.35% house edge with La Partage rule, offering better odds.
    • American Roulette: Higher house edge due to double zero, but thrilling for risk-takers.

    Live roulette tables enhance the experience with real-time interaction.

    Poker

    JACKBIT offers video poker and live poker games, including:

    • Texas Hold’em: Popular for its strategic depth.
    • Caribbean Stud: A house-banked poker variant with progressive jackpots.
    • Jacks or Better: A video poker classic with a 0.5%–2% house edge using optimal strategy.

    These options cater to skill-based players seeking an online casino instant payout experience.

    Live Dealer Games

    Powered by Evolution Gaming, JACKBIT’s live dealer section includes:

    • Live Blackjack: Multiple tables with varying stakes.
    • Live Roulette: European and French variants with professional dealers.
    • Game Shows: Titles like Crazy Time and Monopoly Live for casual fun.

    These games replicate a land-based casino atmosphere, making JACKBIT a leader among fastest paying online casinos.

    Craps

    Craps offers fast-paced dice action with bets like Pass Line (1.41% house edge) and Don’t Pass (1.36% house edge). Its inclusion adds variety to JACKBIT’s portfolio, appealing to players at same day withdrawal online casinos.

    Sportsbook

    JACKBIT’s sportsbook covers over 140 sports, including football, basketball, tennis, cricket, esports, and virtual sports. With over 82,000 live monthly events and 75,000 pre-match events, it offers competitive odds and live betting options. Features include:

    • Live Streaming: Watch select events directly on the platform.
    • In-Play Betting: Place bets during matches for dynamic wagering.
    • Cash-Out Options: Secure profits or minimize losses before events conclude.
    • Sports Welcome Bonus: 100% refund on a losing first bet (minimum $20).

    This comprehensive sportsbook enhances JACKBIT’s appeal as a quick pay casino, catering to sports betting enthusiasts alongside casino players.

    Specialty Games

    JACKBIT also offers lottery, scratch cards, and instant win games for quick, casual play. These games provide a break from traditional casino offerings, enhancing the platform’s versatility.

    Casino Game Providers

    JACKBIT, fast payout online casino, collaborates with 90+ industry-leading providers to deliver its extensive game library:

    • NetEnt: Known for visually stunning slots like Starburst and Gonzo’s Quest.
    • Evolution Gaming: The gold standard for live dealer games, offering immersive experiences.
    • Pragmatic Play: Delivers engaging slots like Gates of Olympus and Drops & Wins promotions.
    • Microgaming: Renowned for progressive jackpots like Mega Moolah.
    • Play’n GO: Offers adventure-themed slots like Book of Dead.
    • Yggdrasil: Known for innovative mechanics and high-quality graphics.

    These partnerships ensure JACKBIT’s games are fair, engaging, and cutting-edge, reinforcing its position as a fast payout casino.

    Fastest Payout Methods at JACKBIT

    JACKBIT’s payment options are tailored for speed and flexibility, making it a standout fastest payout online casino.

    Cryptocurrencies

    JACKBIT supports over 16 cryptocurrencies, including:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Litecoin (LTC)
    • Tether (USDT)
    • Ripple (XRP)
    • Solana (SOL)
    • Cardano (ADA)
    • Dogecoin (DOGE)
    • Binance Coin (BNB)
    • Monero (XMR)
    • USD Coin (USDC)
    • TRON (TRX)
    • Polygon (MATIC)
    • DAI
    • SHIBA INU
    • Chainlink (LINK)

    Deposits are instant and fee-free, while withdrawals are processed in under 10 minutes, often instantly, making JACKBIT a leader among online casinos with instant withdrawal. The platform’s crypto focus ensures enhanced security and anonymity, ideal for players seeking an instant pay casino.

    Fiat Methods

    For deposits, JACKBIT accepts:

    • Visa
    • MasterCard
    • Bank Transfer
    • Google Pay
    • Apple Pay

    However, withdrawals are crypto-only, which may limit options for fiat users. Processing times for fiat deposits are instant, but withdrawals via crypto maintain JACKBIT’s same day withdrawal online casinos status.

    Buy Crypto Option

    JACKBIT offers a “Buy Crypto” feature, allowing players to purchase cryptocurrencies directly on the platform using fiat methods. This simplifies the process for newcomers, enhancing accessibility at this quick pay casino.

    Limitations

    Weekly withdrawal limits are €10,000, with monthly caps at €20,000, which may affect high rollers. The crypto-only withdrawal policy, while fast, may inconvenience players preferring fiat payouts. Despite these, JACKBIT’s payment system excels for those prioritizing speed and security.

    Payment Method Deposit Time Withdrawal Time Fees
    Cryptocurrencies Instant <10 minutes None
    Visa/MasterCard Instant N/A (crypto-only) Varies
    Bank Transfer 1–3 days N/A (crypto-only) Varies
    Google Pay/Apple Pay Instant N/A (crypto-only) Varies

    START PLAYING WITH JACKBIT – NO KYC, JUST FUN!

    Customer Support

    JACKBIT provides 24/7 customer support via live chat and email (support@JACKBIT.com). The team is fluent in multiple languages, including English, and responds promptly to queries. A comprehensive FAQ section addresses common issues, such as account setup, withdrawals, and bonus terms, enhancing the support experience. This reliability makes JACKBIT a top choice among the best online casinos fast payout.

    Responsible Gambling at JACKBIT

    JACKBIT is committed to promoting responsible gambling, offering tools to help players manage their gaming habits:

    • Deposit Limits: Set daily, weekly, or monthly caps to control spending.
    • Loss Limits: Restrict losses over a specified period.
    • Wagering Limits: Limit total bets to maintain financial discipline.
    • Session Time Limits: Monitor and restrict gaming duration.
    • Cooling-Off Periods: Temporary account suspensions for short breaks.
    • Self-Exclusion: Permanent or temporary account closure for extended breaks.
    • Reality Checks: Periodic notifications reminding players of playtime.

    These tools, combined with access to support resources like the National Council on Problem Gambling, ensure JACKBIT remains a responsible fast payout casino by prioritizing player well-being.

    Mobile Gaming Experience

    JACKBIT’s mobile-optimized website delivers a seamless gaming experience on smartphones and tablets, despite the absence of a dedicated app. Players can access the full game library, manage accounts, and process transactions with ease. The responsive design adapts to various screen sizes, ensuring smooth navigation and fast loading times. Key features include:

    • Full Game Access: Play slots, table games, live dealers, and bet on sports directly from mobile browsers.
    • Intuitive Interface: Touch-friendly controls and clear menus enhance usability.
    • Fast Transactions: Deposit and withdraw instantly using crypto, maintaining JACKBIT’s fastest paying online casino status.
    • Cross-Platform Consistency: The mobile experience mirrors the desktop version, with no loss of functionality.

    This mobile compatibility makes JACKBIT a top choice for players seeking online casinos with instant payout on the go.

    User Experience and Interface

    JACKBIT’s website is designed for ease of use, featuring a sleek, modern interface with intuitive navigation. Key elements include:

    • Clear Categorization: Games are organized into slots, table games, live casino, and sportsbook sections.
    • Search Functionality: Quickly find specific titles or providers.
    • Fast Loading Times: Optimized for minimal lag, even on slower connections.
    • Multilingual Support: Available in English, French, Spanish, and more, catering to a global audience.

    This user-centric design enhances the overall experience, positioning JACKBIT among new instant withdrawal casinos for accessibility and engagement.

    Comparing JACKBIT to Other Fast Payout Casinos

    Compared to competitors, JACKBIT excels in several areas:

    • Payout Speed: Instant crypto withdrawals outpace many rivals, which may take hours or days, making it a best online casino fast payout leader.
    • Game Variety: Over 6,000 games surpass most competitors’ offerings.
    • Privacy: The no-KYC policy is a unique advantage for crypto users.
    • Sportsbook: Comprehensive sports betting options add versatility, unlike many casino-only platforms.

    While some casinos offer stricter regulatory oversight or broader fiat withdrawal options, JACKBIT’s focus on speed, privacy, and variety makes it a preferred instant withdrawal casino for 2025.

    Sportsbook Excellence

    JACKBIT’s sportsbook is a standout feature, offering betting on over 140 sports, including:

    • Popular Sports: Football, basketball, tennis, cricket, and rugby.
    • Esports: League of Legends, Dota 2, CS:GO, and more.
    • Virtual Sports: Simulated events for instant betting.
    • Niche Markets: Darts, snooker, and table tennis.

    With over 82,000 live monthly events and 75,000 pre-match events, the sportsbook provides competitive odds and live betting options. Features include:

    • Live Streaming: Watch select events directly on the platform.
    • In-Play Betting: Place bets during matches for dynamic wagering.
    • Cash-Out Options: Secure profits or minimize losses before events conclude.
    • Sports Welcome Bonus: 100% refund on a losing first bet (minimum $20).

    This comprehensive sportsbook enhances JACKBIT’s appeal as a fast payout casino, catering to sports betting enthusiasts alongside casino players.

    Popular Games with Bonus Opportunities

    JACKBIT ties promotions to popular games, offering extra incentives:

    • Tasty Bonanza (Pragmatic Play): 96.48% RTP, tumbling reels, and free spins, often featured in Drops & Wins.
    • Wolf Haven (Pragmatic Play): 96.01% RTP, Money Respin feature, popular in bonus campaigns.
    • Big Catch Bonanza (Reel Kingdom): 96.71% RTP, scatter-triggered free spins, tied to promotional offers.
    • Mega Ace (Microgaming): 88.12% RTP, progressive jackpot potential, eligible for free spins.

    These games, available across devices, enhance JACKBIT’s status as a best online casinos that payout instantly destination, offering exciting gameplay and bonus potential.

    JACKBIT Casino Conclusion: The Ultimate Fast Payout Casino

    After evaluating numerous fast payout online casinos, JACKBIT emerges as the top choice for 2025. Its extensive game library, featuring over 6,000 titles, caters to every player preference, from slots to sports betting. The platform’s status as the fastest payout online casino, with instant crypto withdrawals, ensures players access their winnings without delay. Generous bonuses, including a 30% Rakeback welcome offer and 100 free spins, provide exceptional value, while the no-KYC policy enhances privacy for crypto users.

    JACKBIT’s commitment to player satisfaction is evident in its 24/7 multilingual support, mobile-optimized design, and robust responsible gambling tools. The comprehensive sportsbook, covering 140+ sports with live betting and competitive odds, adds versatility, making JACKBIT a one-stop shop for gaming and betting. While the Curacao license and crypto-only withdrawals may not suit everyone, these are minor drawbacks compared to the platform’s strengths.

    For players seeking a best fast payout casino with variety, speed, and security, JACKBIT is unmatched. Join today at JACKBIT and experience why it’s the fastest paying online casino for 2025.

    Email: support@JACKBIT.com

    Legal Disclaimer
    This content is for informational and entertainment purposes only and does not constitute legal, financial, or gambling advice. Information is provided “as is,” with no warranties regarding accuracy or completeness. Readers must verify details and ensure compliance with local gambling laws. The publisher and authors are not liable for any losses or consequences from relying on this information.

    Affiliate Disclosure
    Some links may be affiliate links, earning us a commission at no cost to you. Our recommendations are based on objective evaluations, and affiliate partnerships do not influence our content.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/035eb7b1-a3c1-4fc0-9d7c-8eb5faf59b85

    The MIL Network –

  • MIL-OSI Europe: Minutes – Tuesday, 6 May 2025 – Strasbourg – Final edition

    Source: European Parliament

    PV-10-2025-05-06

    EN

    EN

    iPlPv_Sit

    Minutes
    Tuesday, 6 May 2025 – Strasbourg

     Abbreviations and symbols

    + adopted
    – rejected
    ↓ lapsed
    W withdrawn
    RCV roll-call votes
    EV electronic vote
    SEC secret ballot
    split split vote
    sep separate vote
    am amendment
    CA compromise amendment
    CP corresponding part
    D deleting amendment
    = identical amendments
    § paragraph

    IN THE CHAIR: Martin HOJSÍK
    Vice-President

    1. Opening of the sitting

    The sitting opened at 09:02.


    2. Request for an urgent decision (Rule 170)

    The President had received two requests for urgent decisions in accordance with Rule 170(5):

    – REGI Committee – Amending ERDF, Cohesion Fund and Just Transition Fund as regards specific measures to address strategic challenges in the context of the mid-term review ***I (COM(2025)0123 – C10-0063/2025 – 2025/0084(COD))

    – EMPL Committee – European Social Fund (ESF+): specific measures to address strategic challenges ***I (COM(2025)0164 – C10-0064/2025 – 2025/0085(COD))

    The votes on both requests would be taken on Wednesday 7 May 2025.

    The agenda was amended accordingly.


    3. A unified EU response to unjustified US trade measures and global trade opportunities for the EU (debate)

    Council and Commission statements: A unified EU response to unjustified US trade measures and global trade opportunities for the EU (2025/2657(RSP))

    Adam Szłapka (President-in-Office of the Council) and Maroš Šefčovič (Member of the Commission) made the statements.

    The following spoke: Jörgen Warborn, on behalf of the PPE Group, Iratxe García Pérez, on behalf of the S&D Group, Jordan Bardella, on behalf of the PfE Group, Nicola Procaccini, on behalf of the ECR Group, Valérie Hayer, on behalf of the Renew Group, Bas Eickhout, on behalf of the Verts/ALE Group, Martin Schirdewan, on behalf of The Left Group, René Aust, on behalf of the ESN Group, Michał Szczerba, Kathleen Van Brempt, Jorge Buxadé Villalba, Adam Bielan, Karin Karlsbro, Anna Cavazzini, Manon Aubry, Petr Bystron and Fabio De Masi.

    IN THE CHAIR: Esteban GONZÁLEZ PONS
    Vice-President

    The following spoke: Lukas Sieper, to put a question to Fabio De Masi, who answered it, Juan Ignacio Zoido Álvarez, Bernd Lange, Anna Bryłka, Daniele Polato, Svenja Hahn, Saskia Bricmont, Lynn Boylan, Lukas Sieper, Eva Maydell, Brando Benifei, Enikő Győri, Jaak Madison, Benoit Cassart, Virginijus Sinkevičius, Pasquale Tridico, Željana Zovko, who also answered a blue-card question from Petras Gražulis, Yannis Maniatis, Isabella Tovaglieri, Rihards Kols, Ľubica Karvašová, Vicent Marzà Ibáñez, Li Andersson, Angelika Niebler, Camilla Laureti, Sebastian Kruis, Kris Van Dijck, Barry Cowen, Isabella Lövin, Lídia Pereira, who also answered a blue-card question from João Oliveira, Javier Moreno Sánchez, Petra Steger, Adrian-George Axinia, Marie-Pierre Vedrenne, Bogdan Andrzej Zdrojewski, Raphaël Glucksmann, Jean-Paul Garraud, Marion Maréchal, Paulo Do Nascimento Cabral, Francisco Assis, Alexandr Vondra, Mika Aaltola, Evin Incir, Francesco Torselli, Jüri Ratas, Andi Cristea, Maria Walsh, Tonino Picula, Borja Giménez Larraz, Aodhán Ó Ríordáin, Michał Wawrykiewicz, Nina Carberry, Salvatore De Meo, Carmen Crespo Díaz, Luděk Niedermayer, Ingeborg Ter Laak and Miriam Lexmann.

    The following spoke under the catch-the-eye procedure: Francisco José Millán Mon, Maria Grapini, Sebastian Tynkkynen, Hilde Vautmans, Jaume Asens Llodrà, Marc Botenga, Kostas Papadakis, Diana Iovanovici Şoşoacă, João Oliveira, Ana Miranda Paz, Juan Fernando López Aguilar, Lucia Annunziata, Vytenis Povilas Andriukaitis and Dariusz Joński.

    The following spoke: Maroš Šefčovič and Adam Szłapka.

    The debate closed.


    4. CO2 emission performance standards for new passenger cars and new light commercial vehicles for 2025 to 2027 (debate)

    Statements by Parliament: CO2 emission performance standards for new passenger cars and new light commercial vehicles for 2025 to 2027 (2025/2700(RSP))

    The following spoke: Jens Gieseke, on behalf of the PPE Group, Mohammed Chahim, on behalf of the S&D Group, Jordan Bardella, on behalf of the PfE Group, Carlo Fidanza, on behalf of the ECR Group, Gerben-Jan Gerbrandy, on behalf of the Renew Group, Kai Tegethoff, on behalf of the Verts/ALE Group, Per Clausen, on behalf of The Left Group, and Siegbert Frank Droese, on behalf of the ESN Group.

    The debate closed.

    (The sitting was suspended for a few moments.)


    IN THE CHAIR: Younous OMARJEE
    Vice-President

    5. Resumption of the sitting

    The sitting resumed at 12:05.


    6. Voting time

    For detailed results of the votes, see also ‘Results of votes’ and ‘Results of roll-call votes’.


    6.1. CO2 emission performance standards for new passenger cars and new light commercial vehicles for 2025 to 2027 ***I (vote)

    Amending Regulation (EU) 2019/631 to include an additional flexibility as regards the calculation of manufacturers’ compliance with CO2 emission performance standards for new passenger cars and new light commercial vehicles for the calendar years 2025 to 2027 [COM(2025)0136 – C10-0062/2025 – 2025/0070(COD)] – ENVI Committee

    REQUEST FOR AN URGENT DECISION from the ECR Group, and jointly from the PPE, S&D and Renew groups (Rule 170(6))

    Approved

    The following tabling deadlines had been set:

    – amendments: Wednesday 7 May 2025 at 13:00
    – requests for separate votes and split votes: Wednesday 7 May 2025 at 19:00

    Vote: 8 May 2025.

    The following had spoken:

    Ondřej Krutílek, on behalf of the ECR Group (author of the request), before the vote.

    Detailed voting results


    6.2. The protection status of the wolf (Canis lupus) ***I (vote)

    The protection status of the wolf (Canis lupus) [COM(2025)0106 – C10-0044/2025 – 2025/0058(COD)] – ENVI Committee

    REQUEST FOR AN URGENT DECISION from the ENVI Committee (Rule 170(6))

    Approved

    The following tabling deadlines had been set:

    – amendments: Wednesday 7 May 2025 at 13:00
    – requests for separate votes and split votes: Wednesday 7 May 2025 at 19:00

    Vote: 8 May 2025.

    The following had spoken:

    Sebastian Everding, against the request, before the vote.

    Detailed voting results


    6.3. Amendments to the Capital Requirements Regulation as regards securities financing transactions under the net stable funding ratio ***I (vote)

    Amendments to the Capital Requirements Regulation as regards securities financing transactions under the net stable funding ratio [COM(2025)0146 – C10-0059/2025 – 2025/0077(COD)] – ECON Committee

    REQUEST FOR AN URGENT DECISION from the ECON Committee (Rule 170(6))

    Approved

    The following tabling deadlines had been set:

    – amendments: Wednesday 7 May 2025 at 13:00
    – requests for separate votes and split votes: Wednesday 7 May 2025 at 19:00

    Vote: 8 May 2025.

    Detailed voting results


    6.4. Request for the waiver of the immunity of Petr Bystron (vote)

    Report on the request for waiver of the immunity of Petr Bystron [2024/2047(IMM)] – Committee on Legal Affairs. Rapporteur: Pascale Piera (A10-0077/2025)

    (Majority of the votes cast)

    PROPOSAL FOR A DECISION

    Adopted (P10_TA(2025)67)

    Detailed voting results


    6.5. Request for the waiver of the immunity of Petras Gražulis (vote)

    Report on the request for waiver of the immunity of Petras Gražulis [2024/2089(IMM)] – Committee on Legal Affairs. Rapporteur: Pascale Piera (A10-0078/2025)

    (Majority of the votes cast)

    PROPOSAL FOR A DECISION

    Adopted (P10_TA(2025)68)

    Detailed voting results


    6.6. Request for the waiver of the immunity of Grzegorz Braun (vote)

    Report on the request for the waiver of the immunity of Grzegorz Braun [2024/2102(IMM)] – Committee on Legal Affairs. Rapporteur: Dainius Žalimas (A10-0081/2025)

    (Majority of the votes cast)

    PROPOSAL FOR A DECISION

    Adopted (P10_TA(2025)69)

    Detailed voting results


    6.7. Border regions’ instrument for development and growth (BRIDGEforEU) ***II (vote)

    Recommendation for second reading on the Council position at first reading with a view to the adoption of a proposal for a regulation of the European Parliament and of the Council on a mechanism to resolve legal and administrative obstacles in a cross-border context [17102/1/2024 – C10-0057/2025 – 2018/0198(COD)] – Committee on Regional Development. Rapporteur: Sandro Gozi (A10-0058/2025)

    The President informed the House that no proposals for rejection or amendment had been tabled in accordance with Rules 68 and 69 with regard to the Council’s position.

    The Council position was therefore deemed approved.

    The proposed act was thus adopted (P10_TA(2025)70)

    The following had spoken:

    Before the President’s announcement, Sandro Gozi (rapporteur), to make a statement under Rule 165(4).

    Detailed voting results


    6.8. Amending Regulation (EU) 2016/1011 as regards the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country, and certain reporting requirements ***II (vote)

    Recommendation for second reading on the Council position at first reading with a view to the adoption of a regulation of the European Parliament and of the Council amending Regulation (EU) 2016/1011 as regards the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country, and certain reporting requirements [05123/1/2025 – C10-0055/2025 – 2023/0379(COD)] – Committee on Economic and Monetary Affairs. Rapporteur: Jonás Fernández (A10-0060/2025)

    The President informed the House that no proposals for rejection or amendment had been tabled in accordance with Rules 68 and 69 with regard to the Council’s position.

    The Council position was therefore deemed approved.

    The proposed act was thus adopted (P10_TA(2025)71)

    Detailed voting results


    6.9. European Union labour market statistics on businesses ***II (vote)

    Recommendation for second reading on the Council position at first reading with a view to the adoption of a regulation of the European Parliament and of the Council on European Union labour market statistics on businesses, repealing Council Regulation (EC) No 530/1999 and Regulations (EC) No 450/2003 and (EC) No 453/2008 of the European Parliament and of the Council [17082/1/2024 – C10-0054/2025 – 2023/0288(COD)] – Committee on Economic and Monetary Affairs. Rapporteur: Irene Tinagli (A10-0057/2025)

    The President informed the House that no proposals for rejection or amendment had been tabled in accordance with Rules 68 and 69 with regard to the Council’s position.

    The Council position was therefore deemed approved.

    The proposed act was thus adopted (P10_TA(2025)72)

    Detailed voting results


    6.10. Amendments to the International Health Regulations contained in the Annex to Resolution WHA77.17 and adopted on 1 June 2024 *** (vote)

    Recommendation on the draft Council decision inviting Member States to accept, in the interest of the European Union, the amendments to the International Health Regulations (2005) contained in the Annex to Resolution WHA77.17 and adopted on 1 June 2024 [17046/2024 – COM(2024)0541 – C10-0005/2025 – 2024/0299(NLE)] – Committee on Public Health. Rapporteur: Adam Jarubas (A10-0064/2025)

    (Majority of the votes cast)

    DRAFT COUNCIL DECISION

    Approved (P10_TA(2025)73)

    Detailed voting results


    6.11. Mobilisation of the European Globalisation Adjustment Fund for Displaced Workers: application EGF/2024/003 BE/Van Hool – Belgium (vote)

    Report on the proposal for a decision of the European Parliament and of the Council on the mobilisation of the European Globalisation Adjustment Fund for Displaced Workers following an application from Belgium – EGF/2024/003 BE/Van Hool [COM(2025)0001 – C10-0056/2025 – 2025/0061(BUD)] – Committee on Budgets. Rapporteur: Janusz Lewandowski (A10-0080/2025)

    (Majority of the votes cast)

    MOTION FOR A RESOLUTION

    Adopted (P10_TA(2025)74)

    Detailed voting results


    6.12. Protection of the European Union’s financial interests – combating fraud – annual report 2023 (vote)

    Report on the protection of the European Union’s financial interests – combating fraud – annual report 2023 [2024/2083(INI)] – Committee on Budgetary Control. Rapporteur: Gilles Boyer (A10-0049/2025)

    The debate had taken place on 5 May 2025 (minutes of 5.5.2025, item 19).

    (Majority of the votes cast)

    MOTION FOR A RESOLUTION

    Adopted (P10_TA(2025)75)

    Detailed voting results


    6.13. Control of the financial activities of the European Investment Bank – annual report 2023 (vote)

    Report on the control of the financial activities of the European Investment Bank – annual report 2023 [2024/2052(INI)] – Committee on Budgetary Control. Rapporteur: Ondřej Knotek (A10-0068/2025)

    The debate had taken place on 5 May 2025 (minutes of 5.5.2025, item 21).

    (Majority of the votes cast)

    MOTION FOR A RESOLUTION

    Adopted (P10_TA(2025)76)

    Detailed voting results

    13

    (The sitting was suspended for a few moments.)


    7. Resumption of the sitting

    The sitting resumed at 12:28.


    8. Approval of the minutes of the previous sitting

    The minutes of the previous sitting were approved.


    9. A revamped long-term budget for the Union in a changing world (debate)

    Report on a revamped long-term budget for the Union in a changing world [2024/2051(INI)] – Committee on Budgets. Rapporteurs: Siegfried Mureşan and Carla Tavares (A10-0076/2025)

    Siegfried Mureşan and Carla Tavares introduced the report.

    The following spoke: Piotr Serafin (Member of the Commission).

    The following spoke: Hilde Vautmans (rapporteur for the opinion of the AFET Committee), Barry Andrews (rapporteur for the opinion of the DEVE Committee), Dirk Gotink (rapporteur for the opinion of the CONT Committee), Damian Boeselager (rapporteur for the opinion of the ECON Committee), Romana Tomc (rapporteur for the opinion of the EMPL Committee), Michalis Hadjipantela (rapporteur for the opinion of the ENVI Committee), Christian Ehler (rapporteur for the opinion of the ITRE Committee), Aura Salla (rapporteur for the opinion of the IMCO Committee), Rosa Serrano Sierra (rapporteur for the opinion of the TRAN Committee), Dragoş Benea (rapporteur for the opinion of the REGI Committee), Stefano Bonaccini (rapporteur for the opinion of the AGRI Committee), Hannes Heide (rapporteur for the opinion of the CULT Committee), Loucas Fourlas (rapporteur for the opinion of the LIBE Committee), Sven Simon (rapporteur for the opinion of the AFCO Committee), Alexandra Geese (rapporteur for the opinion of the FEMM Committee), Karlo Ressler, on behalf of the PPE Group, Jean-Marc Germain, on behalf of the S&D Group, Julien Sanchez, on behalf of the PfE Group, Bogdan Rzońca, on behalf of the ECR Group, Fabienne Keller, on behalf of the Renew Group, Rasmus Nordqvist, on behalf of the Verts/ALE Group, João Oliveira, on behalf of The Left Group, Milan Uhrík, on behalf of the ESN Group, Danuše Nerudová, Gabriele Bischoff, Jana Nagyová, Johan Van Overtveldt, Lucia Yar, Rasmus Andresen, Alexander Jungbluth, Isabel Benjumea Benjumea and Jens Geier.

    IN THE CHAIR: Roberts ZĪLE
    Vice-President

    The following spoke: Annamária Vicsek, who also answered a blue-card question from Gabriella Gerzsenyi, Ruggero Razza, Joachim Streit, Maria Ohisalo, Janusz Lewandowski, Sandra Gómez López, Dick Erixon, Anouk Van Brug, Hélder Sousa Silva, Dario Nardella, Fernand Kartheiser, Moritz Körner, who also answered a blue-card question from Rasmus Andresen, Georgios Aftias, Estelle Ceulemans, Laurence Trochu, Charles Goerens, Nina Carberry, René Repasi, Kristoffer Storm, Katri Kulmuni, Herbert Dorfmann, Victor Negrescu, Sebastian Tynkkynen, Vlad Vasile-Voiculescu, Andrey Novakov, Giuseppe Lupo, Antonella Sberna, Péter Magyar, Marcos Ros Sempere, Elena Nevado del Campo, Evin Incir, Thomas Bajada, Matjaž Nemec and André Rodrigues.

    The following spoke under the catch-the-eye procedure: Paulo Do Nascimento Cabral, Juan Fernando López Aguilar, Lukas Sieper, Nikolina Brnjac, Vytenis Povilas Andriukaitis and Nils Ušakovs.

    The following spoke: Piotr Serafin, Siegfried Mureşan and Carla Tavares.

    The debate closed.

    Vote: 7 May 2025.


    10. Discharge 2023 (joint debate)

    Discharge 2023: EU general budget – Commission, executive agencies and European Development Funds
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section III – Commission, executive agencies and the ninth, tenth and eleventh European Development Funds [COM(2024)0272 – C10-0067/2024 – 2024/2019(DEC)] – Committee on Budgetary Control. Rapporteur: Niclas Herbst (A10-0074/2025)

    Discharge 2023: EU general budget – European Parliament
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section I – European Parliament [COM(2024)0272 – C10-0068/2024 – 2024/2020(DEC)] – Committee on Budgetary Control. Rapporteur: Monika Hohlmeier (A10-0062/2025)

    Discharge 2023: EU general budget – European Council and Council
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section II – European Council and Council [COM(2024)0272 – C10-0069/2024 – 2024/2021(DEC)] – Committee on Budgetary Control. Rapporteur: Joachim Stanisław Brudziński (A10-0052/2025)

    Discharge 2023: EU general budget – Court of Justice of the European Union
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section IV – Court of Justice [COM(2024)0272 – C10-0070/2024 – 2024/2022(DEC)] – Committee on Budgetary Control. Rapporteur: Cristian Terheş (A10-0050/2025)

    Discharge 2023: EU general budget – Court of Auditors
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section V – Court of Auditors [COM(2024)0272 – C10-0071/2024 – 2024/2023(DEC)] – Committee on Budgetary Control. Rapporteur: Dick Erixon (A10-0047/2025)

    Discharge 2023: EU general budget – European Economic and Social Committee
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section VI – European Economic and Social Committee [COM(2024)0272 – C10-0073/2024 – 2024/2025(DEC)] – Committee on Budgetary Control. Rapporteur: Joachim Stanisław Brudziński (A10-0054/2025)

    Discharge 2023: EU general budget – Committee of the Regions
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section VII – Committee of the Regions [COM(2024)0272 – C10-0074/2024 – 2024/2026(DEC)] – Committee on Budgetary Control. Rapporteur: Joachim Stanisław Brudziński (A10-0046/2025)

    Discharge 2023: EU general budget – European Ombudsman
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section VIII – European Ombudsman [COM(2024)0272 – C10-0075/2024 – 2024/2027(DEC)] – Committee on Budgetary Control. Rapporteur: Joachim Stanisław Brudziński (A10-0055/2025)

    Discharge 2023: EU general budget – European Data Protection Supervisor
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section IX – European Data Protection Supervisor [COM(2024)0272 – C10-0076/2024 – 2024/2028(DEC)] – Committee on Budgetary Control. Rapporteur: Joachim Stanisław Brudziński (A10-0053/2025)

    Discharge 2023: EU general budget – European External Action Service
    Report on discharge in respect of the implementation of the general budget of the European Union for the financial year 2023, Section X – European External Action Service [COM(2024)0272 – C10-0072/2024 – 2024/2024(DEC)] – Committee on Budgetary Control. Rapporteur: Joachim Stanisław Brudziński (A10-0069/2025)

    Discharge 2023: European Public Prosecutor’s Office
    Report on discharge in respect of the implementation of the budget of the European Public Prosecutor’s Office for the financial year 2023 [COM(2024)0272 – C10-0077/2024 – 2024/2029(DEC)] – Committee on Budgetary Control. Rapporteur: Tomáš Zdechovský (A10-0051/2025)

    Discharge 2023: Agencies
    Report on discharge in respect of the implementation of the budget of the European Union Agencies for the financial year 2023 [COM(2024)0272 – C10-0078/2024 – 2024/2030(DEC)] – Committee on Budgetary Control. Rapporteur: Erik Marquardt (A10-0065/2025)

    Discharge 2023: Joint Undertakings
    Report on discharge in respect of the implementation of the budget of the EU joint undertakings for the financial year 2023 [COM(2024)0272 – C10-0079/2024 – 2024/2031(DEC)] – Committee on Budgetary Control. Rapporteur: Michal Wiezik (A10-0056/2025)

    Niclas Herbst, Joachim Stanisław Brudziński, Cristian Terheş, Dick Erixon, Monika Hohlmeier, Tomáš Zdechovský, Erik Marquardt and Michal Wiezik introduced the reports.

    The following spoke: Adam Szłapka (President-in-Office of the Council), Piotr Serafin (Member of the Commission) and Tony Murphy (President of the Court of Auditors).

    The following spoke: Michael Gahler (rapporteur for the opinion of the AFET Committee).

    IN THE CHAIR: Martin HOJSÍK
    Vice-President

    The following spoke: Romana Tomc (rapporteur for the opinion of the EMPL Committee), Antonio Decaro (rapporteur for the opinion of the ENVI Committee), Gheorghe Falcă (rapporteur for the opinion of the TRAN Committee), Giuseppe Lupo (rapporteur for the opinion of the PECH Committee), Nela Riehl (rapporteur for the opinion of the CULT Committee), Sven Simon (rapporteur for the opinion of the AFCO Committee), Tomáš Zdechovský (rapporteur for the opinion of the LIBE Committee), Lina Gálvez (rapporteur for the opinion of the FEMM Committee), Dirk Gotink, on behalf of the PPE Group, Mohammed Chahim, on behalf of the S&D Group, Julien Sanchez, on behalf of the PfE Group, Marco Squarta, on behalf of the ECR Group, Olivier Chastel, on behalf of the Renew Group, Daniel Freund, on behalf of the Verts/ALE Group, Jonas Sjöstedt, on behalf of The Left Group, Sarah Knafo, on behalf of the ESN Group, Kinga Kollár, Carla Tavares, Angéline Furet, Bert-Jan Ruissen, Gilles Boyer, Pasquale Tridico, Arno Bausemer, who also answered a blue-card question from Lukas Sieper, Céline Imart, José Cepeda, Anders Vistisen, Marion Maréchal, Gerben-Jan Gerbrandy, Marit Maij, Nikola Bartůšek, Maciej Wąsik, Christophe Clergeau, Fabrice Leggeri, Gheorghe Piperea, Evin Incir and Tiago Moreira de Sá.

    IN THE CHAIR: Pina PICIERNO
    Vice-President

    The following spoke: Fernand Kartheiser, Nils Ušakovs and Csaba Dömötör.

    The following spoke under the catch-the-eye procedure: Juan Fernando López Aguilar, Sebastian Tynkkynen and Lukas Sieper.

    The following spoke: Tony Murphy, Piotr Serafin, Adam Szłapka, Niclas Herbst, Monika Hohlmeier, Joachim Stanisław Brudziński, Cristian Terheş, Dick Erixon, Tomáš Zdechovský, Erik Marquardt and Michal Wiezik.

    The debate closed.

    Vote: 7 May 2025.


    11. Protecting Greenland’s right to decide its own future and maintain the rule-based world order (debate)

    Statement by the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy: Protecting Greenland’s right to decide its own future and maintain the rule-based world order (2025/2689(RSP))

    Kaja Kallas (Vice President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy) made the statement.

    The following spoke: Henrik Dahl, on behalf of the PPE Group, Christel Schaldemose, on behalf of the S&D Group, Anders Vistisen, on behalf of the PfE Group, Kristoffer Storm, on behalf of the ECR Group, Stine Bosse, on behalf of the Renew Group, Villy Søvndal, on behalf of the Verts/ALE Group, Emma Fourreau, on behalf of The Left Group, Niels Flemming Hansen, Yannis Maniatis, Pierre-Romain Thionnet, Urmas Paet, Ignazio Roberto Marino, Per Clausen, David McAllister, Niels Fuglsang, Morten Løkkegaard, Michael Gahler, Tonino Picula, Michał Szczerba, Mika Aaltola and Jüri Ratas.

    The following spoke under the catch-the-eye procedure: Juan Fernando López Aguilar, Pernando Barrena Arza and Lukas Sieper.

    The following spoke: Kaja Kallas.

    The debate closed.


    12. An urgent assessment of the applicability of the Political Dialogue and Cooperation Agreement (PDCA) with Cuba (debate)

    Statement by the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy: An urgent assessment of the applicability of the Political Dialogue and Cooperation Agreement (PDCA) with Cuba (2025/2697(RSP))

    Kaja Kallas (Vice President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy) made the statement.

    The following spoke: Gabriel Mato, on behalf of the PPE Group, Leire Pajín, on behalf of the S&D Group, Hermann Tertsch, on behalf of the PfE Group (the President reminded the speaker of the rules on conduct), Arkadiusz Mularczyk, on behalf of the ECR Group, Oihane Agirregoitia Martínez, on behalf of the Renew Group, Ana Miranda Paz, on behalf of the Verts/ALE Group, Irene Montero, on behalf of The Left Group, and Elena Nevado del Campo.

    IN THE CHAIR: Antonella SBERNA
    Vice-President

    The following spoke: Nacho Sánchez Amor, Nora Junco García, who also answered a blue-card question from Anthony Smith, Pernando Barrena Arza, Ľuboš Blaha, who also answered blue-card questions from Arkadiusz Mularczyk and Anthony Smith, Alice Teodorescu Måwe, Francisco Assis, Mariusz Kamiński, Martin Sonneborn, Antonio López-Istúriz White and Francisco José Millán Mon.

    The following spoke under the catch-the-eye procedure: Jaume Asens Llodrà, João Oliveira, Maria Zacharia, Leila Chaibi, Lefteris Nikolaou-Alavanos, Kateřina Konečná and Lukas Sieper.

    The following spoke: Kaja Kallas.

    The debate closed.


    13. The European Water Resilience Strategy (debate)

    Report on the European Water Resilience Strategy [2024/2104(INI)] – Committee on the Environment, Climate and Food Safety. Rapporteur: Thomas Bajada (A10-0073/2025)

    Thomas Bajada introduced the report.

    The following spoke: Jessika Roswall (Member of the Commission).

    The following spoke: Michal Wiezik (rapporteur for the opinion of the AGRI Committee), Carmen Crespo Díaz, on behalf of the PPE Group, Christophe Clergeau, on behalf of the S&D Group, Mireia Borrás Pabón, on behalf of the PfE Group, Alexandr Vondra, on behalf of the ECR Group, Grégory Allione, on behalf of the Renew Group, Jutta Paulus, on behalf of the Verts/ALE Group (the President reminded the House of the rules on conduct), Giorgos Georgiou, on behalf of The Left Group, Anja Arndt, on behalf of the ESN Group, Peter Liese, Annalisa Corrado, André Rougé, Anna Zalewska, Ana Vasconcelos, Tilly Metz, Emma Fourreau, Ingeborg Ter Laak, César Luena, Rody Tolassy, Claudiu-Richard Târziu, Emma Wiesner, Pär Holmgren, Dimitris Tsiodras, Heléne Fritzon, Mathilde Androuët, Paolo Inselvini, Jeannette Baljeu, Cristina Guarda, Lídia Pereira, Antonio Decaro, Esther Herranz García, Günther Sidl, Dan-Ştefan Motreanu, András Tivadar Kulja, Stefan Köhler and Sander Smit.

    The following spoke under the catch-the-eye procedure: Krzysztof Hetman.

    IN THE CHAIR: Nicolae ŞTEFĂNUȚĂ
    Vice-President

    The following spoke under the catch-the-eye procedure: Viktória Ferenc, Sebastian Tynkkynen, Ana Miranda Paz, Lukas Sieper, Kostas Papadakis and Maria Zacharia.

    The following spoke: Jessika Roswall and Thomas Bajada.

    The debate closed.

    Vote: 7 May 2025.


    14. 2023 and 2024 reports on Türkiye (debate)

    2023 and 2024 Commission reports on Türkiye [2025/2023(INI)] – Committee on Foreign Affairs. Rapporteur: Nacho Sánchez Amor (A10-0067/2025)

    Nacho Sánchez Amor introduced the report.

    The following spoke: Marta Kos (Member of the Commission).

    The following spoke: Isabel Wiseler-Lima, on behalf of the PPE Group, Yannis Maniatis, on behalf of the S&D Group, Nikola Bartůšek, on behalf of the PfE Group, Geadis Geadi, on behalf of the ECR Group, Malik Azmani, on behalf of the Renew Group, Vladimir Prebilič, on behalf of the Verts/ALE Group, Giorgos Georgiou, on behalf of The Left Group, Tomasz Froelich, on behalf of the ESN Group, Emmanouil Kefalogiannis, Joanna Scheuring-Wielgus, Afroditi Latinopoulou, Emmanouil Fragkos, Lucia Yar, Mélissa Camara, Özlem Demirel, Kostas Papadakis, Loucas Fourlas, Vivien Costanzo, Matthieu Valet, Tineke Strik, Jonas Sjöstedt, who also answered a blue-card question from Beatrice Timgren, Maria Zacharia, Alice Teodorescu Måwe, Evin Incir, Silvia Sardone, Fidias Panayiotou, Łukasz Kohut, Andreas Schieder, Elissavet Vozemberg-Vrionidi, Davor Ivo Stier, who also answered a blue-card question from Geadis Geadi, Reinhold Lopatka and Michalis Hadjipantela.

    The following spoke under the catch-the-eye procedure: Costas Mavrides, Sebastian Tynkkynen, Sebastian Everding and Nikolas Farantouris.

    The following spoke: Marta Kos.

    IN THE CHAIR: Younous OMARJEE
    Vice-President

    The following spoke: Nacho Sánchez Amor.

    The debate closed.

    Vote: 7 May 2025.


    15. Welcome

    On behalf of Parliament the President welcomed a group of young people from Serbia who had taken their seats in the distinguished visitors’ gallery.


    16. 2023 and 2024 reports on Serbia (debate)

    Report on the 2023 and 2024 Commission reports on Serbia [2025/2022(INI)] – Committee on Foreign Affairs. Rapporteur: Tonino Picula (A10-0072/2025)

    Tonino Picula introduced the report.

    The following spoke: Marta Kos (Member of the Commission).

    The following spoke: Davor Ivo Stier, on behalf of the PPE Group, Kathleen Van Brempt, on behalf of the S&D Group, Kinga Gál, on behalf of the PfE Group, Stephen Nikola Bartulica, on behalf of the ECR Group, Helmut Brandstätter, on behalf of the Renew Group, Vladimir Prebilič, on behalf of the Verts/ALE Group, Danilo Della Valle, on behalf of The Left Group, Michał Szczerba, Thijs Reuten, who also answered a blue-card question from Tomislav Sokol, António Tânger Corrêa, Cristian Terheş, Irena Joveva, Gordan Bosanac, Liudas Mažylis, Andreas Schieder, Annamária Vicsek, Matej Tonin, Thierry Mariani and Tomislav Sokol.

    The following spoke under the catch-the-eye procedure: Loucas Fourlas, Matjaž Nemec, Kristian Vigenin and Sebastian Tynkkynen.

    The following spoke: Marta Kos and Tonino Picula.

    The debate closed.

    Vote: 7 May 2025.


    17. 2023 and 2024 reports on Kosovo (debate)

    Report on the 2023 and 2024 Commission Reports on Kosovo [2025/2019(INI)] – Committee on Foreign Affairs. Rapporteur: Riho Terras (A10-0075/2025)

    Riho Terras introduced the report.

    The following spoke: Marta Kos (Member of the Commission).

    The following spoke: Davor Ivo Stier, on behalf of the PPE Group, Elio Di Rupo, on behalf of the S&D Group, Matthieu Valet, on behalf of the PfE Group, Ivaylo Valchev, on behalf of the ECR Group, Ilhan Kyuchyuk, on behalf of the Renew Group, Thomas Waitz, on behalf of the Verts/ALE Group, Merja Kyllönen, on behalf of The Left Group, Stanislav Stoyanov, on behalf of the ESN Group, Liudas Mažylis, Matjaž Nemec and Alexander Sell.

    The following spoke under the catch-the-eye procedure: Thijs Reuten and Sebastian Tynkkynen.

    The following spoke: Marta Kos and Riho Terras.

    The debate closed.

    Vote: 7 May 2025.


    18. Explanations of vote


    18.1. Written explanations of vote

    Explanations of vote submitted in writing under Rule 201 appear on the Members’ pages on Parliament’s website.


    19. Agenda of the next sitting

    The next sitting would be held the following day, 7 May 2025, starting at 09:00. The agenda was available on Parliament’s website.


    20. Approval of the minutes of the sitting

    In accordance with Rule 208(3), the minutes of the sitting would be put to the House for approval at the beginning of the afternoon of the next sitting.


    21. Closure of the sitting

    The sitting closed at 22:29.


    ATTENDANCE REGISTER

    Present:

    Aaltola Mika, Abadía Jover Maravillas, Adamowicz Magdalena, Aftias Georgios, Agirregoitia Martínez Oihane, Agius Peter, Agius Saliba Alex, Alexandraki Galato, Allione Grégory, Al-Sahlani Abir, Anadiotis Nikolaos, Anderson Christine, Andersson Li, Andresen Rasmus, Andrews Barry, Andriukaitis Vytenis Povilas, Androuët Mathilde, Angel Marc, Annemans Gerolf, Annunziata Lucia, Antoci Giuseppe, Arias Echeverría Pablo, Arimont Pascal, Arłukowicz Bartosz, Arnaoutoglou Sakis, Arndt Anja, Arvanitis Konstantinos, Asens Llodrà Jaume, Assis Francisco, Attard Daniel, Aubry Manon, Auštrevičius Petras, Axinia Adrian-George, Azmani Malik, Bajada Thomas, Baljeu Jeannette, Ballarín Cereza Laura, Bardella Jordan, Barna Dan, Barrena Arza Pernando, Bartulica Stephen Nikola, Bartůšek Nikola, Bausemer Arno, Bay Nicolas, Bay Christophe, Beke Wouter, Beleris Fredis, Bellamy François-Xavier, Benea Dragoş, Benifei Brando, Benjumea Benjumea Isabel, Beňová Monika, Berendsen Tom, Berger Stefan, Berlato Sergio, Bernhuber Alexander, Biedroń Robert, Bielan Adam, Bischoff Gabriele, Blaha Ľuboš, Blinkevičiūtė Vilija, Blom Rachel, Bloss Michael, Bocheński Tobiasz, Boeselager Damian, Bogdan Ioan-Rareş, Bonaccini Stefano, Bonte Barbara, Borchia Paolo, Borrás Pabón Mireia, Borvendég Zsuzsanna, Borzan Biljana, Bosanac Gordan, Boßdorf Irmhild, Bosse Stine, Botenga Marc, Boyer Gilles, Boylan Lynn, Brandstätter Helmut, Brasier-Clain Marie-Luce, Bricmont Saskia, Brnjac Nikolina, Brudziński Joachim Stanisław, Bryłka Anna, Buchheit Markus, Buczek Tomasz, Buda Daniel, Buda Waldemar, Budka Borys, Bugalho Sebastião, Buła Andrzej, Bullmann Udo, Burkhardt Delara, Buxadé Villalba Jorge, Bystron Petr, Bžoch Jaroslav, Camara Mélissa, Canfin Pascal, Carberry Nina, Cârciu Gheorghe, Carême Damien, Casa David, Caspary Daniel, Cassart Benoit, Castillo Laurent, del Castillo Vera Pilar, Cavazzini Anna, Cepeda José, Ceulemans Estelle, Chahim Mohammed, Chaibi Leila, Chastel Olivier, Chinnici Caterina, Christensen Asger, Cifrová Ostrihoňová Veronika, Ciriani Alessandro, Cisint Anna Maria, Clausen Per, Clergeau Christophe, Cormand David, Corrado Annalisa, Costanzo Vivien, Cotrim De Figueiredo João, Cowen Barry, Cremer Tobias, Crespo Díaz Carmen, Cristea Andi, Crosetto Giovanni, Cunha Paulo, Dahl Henrik, Danielsson Johan, Dauchy Marie, Dávid Dóra, David Ivan, Decaro Antonio, de la Hoz Quintano Raúl, Della Valle Danilo, Deloge Valérie, De Masi Fabio, De Meo Salvatore, Demirel Özlem, Deutsch Tamás, Devaux Valérie, Dibrani Adnan, Diepeveen Ton, Dieringer Elisabeth, Dîncu Vasile, Di Rupo Elio, Disdier Mélanie, Dobrev Klára, Doherty Regina, Doleschal Christian, Dömötör Csaba, Do Nascimento Cabral Paulo, Donazzan Elena, Dorfmann Herbert, Dostalova Klara, Dostál Ondřej, Droese Siegbert Frank, Dworczyk Michał, Ecke Matthias, Ehler Christian, Ehlers Marieke, Eriksson Sofie, Erixon Dick, Eroglu Engin, Estaràs Ferragut Rosa, Everding Sebastian, Falcă Gheorghe, Falcone Marco, Farantouris Nikolas, Farreng Laurence, Farský Jan, Ferber Markus, Ferenc Viktória, Fernández Jonás, Fidanza Carlo, Fiocchi Pietro, Firea Gabriela, Firmenich Ruth, Fita Claire, Fourlas Loucas, Fourreau Emma, Fragkos Emmanouil, Freund Daniel, Frigout Anne-Sophie, Fritzon Heléne, Froelich Tomasz, Fuglsang Niels, Funchion Kathleen, Furet Angéline, Furore Mario, Gahler Michael, Gál Kinga, Galán Estrella, Gálvez Lina, Gambino Alberico, García Hermida-Van Der Walle Raquel, Garraud Jean-Paul, Gasiuk-Pihowicz Kamila, Geadi Geadis, Gedin Hanna, Geese Alexandra, Geier Jens, Geisel Thomas, Gemma Chiara, Georgiou Giorgos, Gerbrandy Gerben-Jan, Germain Jean-Marc, Gerzsenyi Gabriella, Geuking Niels, Gieseke Jens, Giménez Larraz Borja, Girauta Vidal Juan Carlos, Glavak Sunčana, Glück Andreas, Glucksmann Raphaël, Goerens Charles, Gomes Isilda, Gómez López Sandra, Gonçalves Bruno, Gonçalves Sérgio, González Casares Nicolás, González Pons Esteban, Gori Giorgio, Gosiewska Małgorzata, Gotink Dirk, Gozi Sandro, Grapini Maria, Gražulis Petras, Grims Branko, Griset Catherine, Gronkiewicz-Waltz Hanna, Grossmann Elisabeth, Grudler Christophe, Gualmini Elisabetta, Guarda Cristina, Guetta Bernard, Győri Enikő, Gyürk András, Hadjipantela Michalis, Hahn Svenja, Haider Roman, Halicki Andrzej, Hansen Niels Flemming, Hauser Gerald, Häusling Martin, Hava Mircea-Gheorghe, Heide Hannes, Heinäluoma Eero, Henriksson Anna-Maja, Herbst Niclas, Herranz García Esther, Hetman Krzysztof, Hohlmeier Monika, Hojsík Martin, Holmgren Pär, Hölvényi György, Homs Ginel Alicia, Humberto Sérgio, Imart Céline, Incir Evin, Inselvini Paolo, Iovanovici Şoşoacă Diana, Jamet France, Jarubas Adam, Jerković Romana, Jongen Marc, Joński Dariusz, Jouvet Pierre, Joveva Irena, Juknevičienė Rasa, Junco García Nora, Jungbluth Alexander, Kabilov Taner, Kalfon François, Kaliňák Erik, Kaljurand Marina, Kalniete Sandra, Kamiński Mariusz, Karlsbro Karin, Kartheiser Fernand, Karvašová Ľubica, Katainen Elsi, Kefalogiannis Emmanouil, Kelleher Billy, Keller Fabienne, Kelly Seán, Kennes Rudi, Khan Mary, Kircher Sophia, Knafo Sarah, Knotek Ondřej, Kobosko Michał, Köhler Stefan, Kohut Łukasz, Kokalari Arba, Kolář Ondřej, Kollár Kinga, Kols Rihards, Konečná Kateřina, Kopacz Ewa, Körner Moritz, Kountoura Elena, Kovařík Ondřej, Kovatchev Andrey, Krištopans Vilis, Kruis Sebastian, Krutílek Ondřej, Kubín Tomáš, Kuhnke Alice, Kulja András Tivadar, Kulmuni Katri, Kyllönen Merja, Kyuchyuk Ilhan, Lakos Eszter, Lalucq Aurore, Lange Bernd, Langensiepen Katrin, Laššáková Judita, László András, Latinopoulou Afroditi, Laurent Murielle, Laureti Camilla, Laykova Rada, Lazarov Ilia, Le Callennec Isabelle, Leggeri Fabrice, Lenaers Jeroen, Leonardelli Julien, Lewandowski Janusz, Lexmann Miriam, Liese Peter, Lins Norbert, Loiseau Nathalie, Løkkegaard Morten, Lopatka Reinhold, López Javi, López Aguilar Juan Fernando, López-Istúriz White Antonio, Lövin Isabella, Lucano Mimmo, Luena César, Łukacijewska Elżbieta Katarzyna, Lupo Giuseppe, McAllister David, Madison Jaak, Maestre Cristina, Magoni Lara, Magyar Péter, Maij Marit, Maląg Marlena, Manda Claudiu, Mandl Lukas, Maniatis Yannis, Mantovani Mario, Maran Pierfrancesco, Marczułajtis-Walczak Jagna, Maréchal Marion, Mariani Thierry, Marino Ignazio Roberto, Marquardt Erik, Martusciello Fulvio, Marzà Ibáñez Vicent, Mato Gabriel, Mavrides Costas, Maydell Eva, Mayer Georg, Mazurek Milan, Mažylis Liudas, McNamara Michael, Mebarek Nora, Mehnert Alexandra, Meimarakis Vangelis, Meleti Eleonora, Mendes Ana Catarina, Mendia Idoia, Mertens Verena, Mesure Marina, Metsola Roberta, Metz Tilly, Mikser Sven, Milazzo Giuseppe, Millán Mon Francisco José, Minchev Nikola, Miranda Paz Ana, Molnár Csaba, Montero Irene, Montserrat Dolors, Morace Carolina, Morano Nadine, Moratti Letizia, Moreira de Sá Tiago, Moreno Sánchez Javier, Moretti Alessandra, Motreanu Dan-Ştefan, Mularczyk Arkadiusz, Müller Piotr, Mullooly Ciaran, Mureşan Siegfried, Muşoiu Ştefan, Nagyová Jana, Nardella Dario, Navarrete Rojas Fernando, Negrescu Victor, Nemec Matjaž, Nerudová Danuše, Nesci Denis, Neuhoff Hans, Neumann Hannah, Nevado del Campo Elena, Nica Dan, Niebler Angelika, Niedermayer Luděk, Niinistö Ville, Nikolaou-Alavanos Lefteris, Nikolic Aleksandar, Ní Mhurchú Cynthia, Noichl Maria, Nordqvist Rasmus, Novakov Andrey, Nykiel Mirosława, Obajtek Daniel, Ódor Ľudovít, Oetjen Jan-Christoph, Ohisalo Maria, Oliveira João, Olivier Philippe, Omarjee Younous, Ondruš Branislav, Ó Ríordáin Aodhán, Ozdoba Jacek, Paet Urmas, Pajín Leire, Palmisano Valentina, Panayiotou Fidias, Papadakis Kostas, Pappas Nikos, Pascual de la Parte Nicolás, Paulus Jutta, Pedro Ana Miguel, Pedulla’ Gaetano, Pellerin-Carlin Thomas, Peltier Guillaume, Penkova Tsvetelina, Pennelle Gilles, Pereira Lídia, Peter-Hansen Kira Marie, Petrov Hristo, Picaro Michele, Picierno Pina, Picula Tonino, Piera Pascale, Pietikäinen Sirpa, Pimpie Pierre, Piperea Gheorghe, de la Pisa Carrión Margarita, Pokorná Jermanová Jaroslava, Polato Daniele, Polfjärd Jessica, Popescu Virgil-Daniel, Pozņaks Reinis, Prebilič Vladimir, Princi Giusi, Protas Jacek, Pürner Friedrich, Rackete Carola, Radev Emil, Radtke Dennis, Rafowicz Emma, Ratas Jüri, Razza Ruggero, Rechagneux Julie, Regner Evelyn, Repasi René, Repp Sabrina, Ressler Karlo, Reuten Thijs, Riba i Giner Diana, Ricci Matteo, Ridel Chloé, Riehl Nela, Ripa Manuela, Rodrigues André, Ros Sempere Marcos, Roth Neveďalová Katarína, Rougé André, Ruissen Bert-Jan, Ruotolo Sandro, Rzońca Bogdan, Saeidi Arash, Salini Massimiliano, Salis Ilaria, Salla Aura, Sánchez Amor Nacho, Sanchez Julien, Sancho Murillo Elena, Saramo Jussi, Sardone Silvia, Šarec Marjan, Sargiacomo Eric, Satouri Mounir, Saudargas Paulius, Sbai Majdouline, Sberna Antonella, Schaldemose Christel, Schaller-Baross Ernő, Schenk Oliver, Scheuring-Wielgus Joanna, Schieder Andreas, Schilling Lena, Schneider Christine, Schnurrbusch Volker, Schwab Andreas, Scuderi Benedetta, Seekatz Ralf, Sell Alexander, Serrano Sierra Rosa, Sidl Günther, Sienkiewicz Bartłomiej, Sieper Lukas, Simon Sven, Singer Christine, Sinkevičius Virginijus, Sippel Birgit, Sjöstedt Jonas, Śmiszek Krzysztof, Smith Anthony, Smit Sander, Sokol Tomislav, Solier Diego, Solís Pérez Susana, Sommen Liesbet, Sonneborn Martin, Sorel Malika, Sousa Silva Hélder, Søvndal Villy, Squarta Marco, Staķis Mārtiņš, Stancanelli Raffaele, Ştefănuță Nicolae, Steger Petra, Stier Davor Ivo, Storm Kristoffer, Stöteler Sebastiaan, Stoyanov Stanislav, Strack-Zimmermann Marie-Agnes, Strada Cecilia, Streit Joachim, Strik Tineke, Strolenberg Anna, Sturdza Şerban Dimitrie, Stürgkh Anna, Sypniewski Marcin, Szczerba Michał, Szekeres Pál, Szydło Beata, Tamburrano Dario, Tânger Corrêa António, Tarczyński Dominik, Tarquinio Marco, Tarr Zoltán, Târziu Claudiu-Richard, Tavares Carla, Tegethoff Kai, Teodorescu Georgiana, Teodorescu Måwe Alice, Terheş Cristian, Ter Laak Ingeborg, Terras Riho, Tertsch Hermann, Thionnet Pierre-Romain, Timgren Beatrice, Tinagli Irene, Tobback Bruno, Tobé Tomas, Tolassy Rody, Tomac Eugen, Tomašič Zala, Tomaszewski Waldemar, Tomc Romana, Tonin Matej, Toom Jana, Topo Raffaele, Torselli Francesco, Tosi Flavio, Toussaint Marie, Tovaglieri Isabella, Tridico Pasquale, Trochu Laurence, Tsiodras Dimitris, Tudose Mihai, Turek Filip, Tynkkynen Sebastian, Uhrík Milan, Ušakovs Nils, Vaidere Inese, Valchev Ivaylo, Vălean Adina, Valet Matthieu, Van Brempt Kathleen, Van Brug Anouk, van den Berg Brigitte, Vandendriessche Tom, Van Dijck Kris, Van Lanschot Reinier, Van Leeuwen Jessika, Vannacci Roberto, Van Overtveldt Johan, Van Sparrentak Kim, Varaut Alexandre, Vasconcelos Ana, Vasile-Voiculescu Vlad, Vautmans Hilde, Vedrenne Marie-Pierre, Verougstraete Yvan, Veryga Aurelijus, Vicsek Annamária, Vieira Catarina, Vigenin Kristian, Vilimsky Harald, Vincze Loránt, Vind Marianne, Vistisen Anders, Vivaldini Mariateresa, Volgin Petar, von der Schulenburg Michael, Vondra Alexandr, Voss Axel, Vozemberg-Vrionidi Elissavet, Vrecionová Veronika, Vázquez Lázara Adrián, Waitz Thomas, Walsh Maria, Walsmann Marion, Warborn Jörgen, Warnke Jan-Peter, Wąsik Maciej, Wawrykiewicz Michał, Wcisło Marta, Wechsler Andrea, Weimers Charlie, Werbrouck Séverine, Wiesner Emma, Wiezik Michal, Winkler Iuliu, Winzig Angelika, Wiseler-Lima Isabel, Wiśniewska Jadwiga, Wölken Tiemo, Wolters Lara, Yar Lucia, Yon-Courtin Stéphanie, Yoncheva Elena, Zacharia Maria, Zalewska Anna, Žalimas Dainius, Zan Alessandro, Zarzalejos Javier, Zdechovský Tomáš, Zdrojewski Bogdan Andrzej, Zijlstra Auke, Zīle Roberts, Zingaretti Nicola, Złotowski Kosma, Zoido Álvarez Juan Ignacio, Zovko Željana, Zver Milan

    Excused:

    Verheyen Sabine

    MIL OSI Europe News –

  • MIL-OSI Europe: Highlights – BUDG-CONT-ECON – Presentation of Court of Auditors Report on EFSI – 13.05 – Committee on Budgets

    Source: European Parliament

    © Image used under license from Adobe Stock

    On 13 May 2025, the BUDG, CONT and ECON Committees have invited Mr L. Christoforou, Member responsible at the European Court of Auditors (ECA), to present its Special report 07/2025 on “The European Fund for Strategic Investments – Contributed substantially to addressing the investment gap, but had not fully reached the €500 billion target in the real economy by the end of 2022”.

    Launched in 2015 by the European Commission and the European Investment Bank (EIB), the European Fund for Strategic Investments (EFSI) aimed at tackling the investment shortfall within the EU after the financial crisis, by mobilising an additional €500 billion in investments by 2022 through various debt and equity instruments. The initiative was supported by a €26 billion EU budgetary guarantee and €7.5 billion in EIB resources. According to ECA’ special report the programme made significant strides in addressing the investment gap. However, it fell short of its target, with an estimated overstatement of the reported amount of €503 billion by €131 billion (26%). This presentation will provide an opportunity for the ECA to share its findings and discuss them with the BUDG, CONT and ECON Members.

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB signs agreement with EBRD to strengthen impact of projects around the world

    Source: European Investment Bank

    The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) have deepened their long-standing partnership by signing a Mutual Reliance Agreement on environmental and social aspects. The agreement will  make it easier to finance projects together and get them off the ground more  quickly in common countries of operation. It  will also reduce red tape for our our clients.

    MIL OSI Europe News –

  • MIL-OSI Canada: The Bank of Canada releases the 2025 Financial Stability Report

    Source: Bank of Canada

    OTTAWA – The Financial Stability Report will be released on Thursday, May 8, 2025. 

    Description

    The Financial Stability Report (FSR) gives an assessment of the stability of Canada’s financial system and highlights risks that could threaten that stability.  

    Time

    10:00 (Eastern Time)

    Lock-Up

    At 07:30 (ET), journalists are invited to review the Financial Stability Report, under embargo, at the Bank’s head office in Ottawa (please use the Bank of Canada Museum entrance, located at 30 Bank Street, on the corner of Bank and Wellington), as well as at the regional office in Toronto (Boardroom, 20th Floor, 150 King Street West).  

    For security reasons, journalists wishing to attend must confirm their presence by contacting Media Relations before noon (ET) on Wednesday, May 7, 2025. Those who have not registered will not be admitted to the lock-up. Please be sure to bring photo ID. 

    At 10:00 (ET), the lock-up ends and the embargo is lifted. 

    Media Briefing Session

    At 08:30 (ET), senior Bank officers will provide background information and respond to questions on the content of the FSR. Information gathered at the session may be used freely in news reports and commentaries, provided it is not attributed to the Bank or its officers. Electronic recording is not permitted.

    Distribution

    The Financial Stability Report will be available at 10:00 (ET) on the Bank’s website.

    Media Availability

    At 11:00 (ET), Tiff Macklem, Governor of the Bank of Canada, and Carolyn Rogers, Senior Deputy Governor, will hold a press conference in the Bank of Canada’s auditorium. 

    For security reasons, all media wishing to attend must register with the Bank in advance.To register, please contact Media Relations before 17:00 (ET) on Wednesday, May 7, 2025. Journalists, camera operators and still photographers who have not registered will not be admitted to the press conference. 

    Please use the Bank of Canada Museum entrance, located at 30 Bank Street (corner of Bank and Wellington), and bring photo ID. 

    Broadcasters needing to set up equipment will be granted access beginning at 10:00 (ET). 

    Please note that journalists not attending the press conference in person can register to dial in and ask questions. Journalists who would like to ask questions via teleconference should contact Media Relations. 

    Webcast

    Audio and video webcasts of the press conference will be accessible from the Bank’s website. 

    Note

    For more information, please contact Media Relations.

    MIL OSI Canada News –

  • MIL-OSI: Best Crypto Casinos: JACKBIT Rated As Top Crypto Casino with BTC Bonuses & No KYC Policy

    Source: GlobeNewswire (MIL-OSI)

    RUSSELLVILLE, Ark., May 07, 2025 (GLOBE NEWSWIRE) — With the surge in popularity of cryptocurrency, the number of crypto gambling sites has skyrocketed, offering players a blend of anonymity, rapid transactions, and diverse gaming options. However, navigating this crowded market to find the best crypto casino can be challenging.

    After an exhaustive review of numerous platforms, our team has identified JACKBIT as the top crypto casino for 2025. Renowned for its no KYC policy, extensive game library, and lightning-fast payouts, JACKBIT stands out among the best crypto casinos.

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    This article covers why JACKBIT is our favorite, its pros and cons, how to join, our selection process, available games, supported payment methods, and responsible gambling tools.

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    JACKBIT has earned its place as the leading crypto casino through a combination of innovative features and player-focused services. Here’s why it’s the top choice among the best Bitcoin casinos:

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    Best Crypto Casino Games

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    EMAIL: support@jackbit.com

    Disclaimer and Affiliate Disclosure

    General Disclaimer

    This article is for informational and entertainment purposes only and does not constitute legal or financial advice. The content is based on research and user reviews, but no warranties are made. Players must verify all information before acting, as online gambling carries inherent risks. Ensure you meet your jurisdiction’s legal gambling age before participating.

    Casino and Gambling Disclaimer

    Online gambling involves risks and may not be suitable for everyone. Gambling laws vary by jurisdiction, and compliance is your responsibility. We do not promote gambling, and participation is at your own risk. JACKBIT is a third-party platform, and we are not liable for any losses or disputes arising from its use. Always gamble responsibly and seek professional advice if needed.

    Affiliate Disclosure

    This article may contain affiliate links, which earn us a commission at no additional cost to you for qualifying actions. These links help support our content creation. Our reviews remain unbiased, and we only recommend products and platforms we believe offer genuine value. Conduct your own research before signing up or making deposits to ensure JACKBIT meets your needs.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b39b2889-fe38-4424-8931-e5912e823686

    The MIL Network –

  • MIL-OSI Canada: Press Conference: Financial Stability Report—2025

    Source: Bank of Canada

    The Canadian economy ended 2024 in a strong position. However, the trade conflict and tariffs are expected to slow growth and add to price pressures. The outlook is very uncertain because of the unpredictability of US trade policy and the magnitude of its impact on the Canadian economy.

    MIL OSI Canada News –

  • MIL-OSI China: China unveils supportive measures to boost sci-tech innovation bond issuance

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

    BEIJING, May 7 — Chinese authorities announced a series of supportive measures on Wednesday aimed at promoting the issuance of sci-tech innovation bonds.

    Experts believe the move is set to bolster technology enterprises by facilitating their access to much-needed funding.

    The announcement, jointly unveiled by the People’s Bank of China (PBOC) and the China Securities Regulatory Commission, introduces initiatives to diversify the range of sci-tech bond products and strengthen supporting mechanisms.

    To expand the scope of eligible issuers, commercial banks, securities firms, and financial asset investment companies will be allowed to issue these bonds, according to the announcement.

    Other measures to be introduced focus on improving bond issuance management, streamlining information disclosures, and optimizing the credit rating system.

    The push reflects China’s broader efforts to strengthen support for sci-tech enterprises as it advances toward becoming a global technology powerhouse. In March, China announced that it would launch a “sci-tech board” in its bond market to promote the issuance of sci-tech innovation bonds by financial institutions, tech firms and private equity investment institutions.

    According to preliminary figures from the PBOC, nearly 100 market entities are preparing to issue more than 300 billion yuan (about 41.7 billion U.S. dollars) worth of sci-tech innovation bonds, with further participation expected in the future.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: LCQ7: Combating phishing

    Source: Hong Kong Government special administrative region

    LCQ7: Combating phishing 
    Question:
     
         The Hong Kong Computer Emergency Response Team Coordination Centre handled a total of 12 536 security incidents last year, with phishing accounting for over half of all cases, marking a 108 per cent increase from 2023. In addition, between January and February this year, the Hong Kong Monetary Authority (HKMA) posted on its website press releases on phishing instant messages and fraudulent websites related to banks for more than 50 times. Regarding combating phishing, will the Government inform this Council:
     
    (1) of the respective numbers of fraud cases involving phishing and the losses incurred in each of the past five years, together with a breakdown by industry;
     
    (2) among the phishing websites reported by members of the public on the public intelligence platform since the launch of “Scameter”, of the proportion of those that have actually been added by the Police to the scam database; whether a mechanism for immediate takedown of the reported phishing websites has been put in place; if so, of the average time taken to take down such websites;
     
    (3) as it has been reported that in view of the susceptibility of SMS messages issuing an SMS one-time password (OTP) to interception by hackers, the HKMA has requested that banks implement measures by the end of last year requiring customers to authenticate online credit card transactions using the banking applications in their mobile phones instead of using an SMS OTP for authentication, whether the HKMA will formulate a specific timetable for phasing out OTP authentication; if so, of the details; if not, the reasons for that; and
     
    (4) as the Office of the Communications Authority has launched the SMS Sender Registration Scheme for companies or organisations that have registered as Registered Senders to use SMS messages with the prefix “#” in order to help members of the public ascertain the authenticity of SMS messages, but it has been reported that some fraudsters use fraudulent mobile base stations, which are illegal radio devices, to circumvent the existing mechanism, impersonating official or financial institutions to send fraudulent SMS messages, whether the authorities will study the formulation of measures to address the aforesaid situation, and at the same time step up publicity to raise the public’s anti-deception awareness; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         Deception is a serious crime. Regardless of the tactics used by criminals, we will take stringent combat actions as long as illegal activities are involved. Phishing scams as mentioned in the question generally refers to a crime where illegal elements sent out through SMS messages, emails, voice messages, QR codes, etc, to potential victims en masse, impersonating organisations such as banks, telecommunication service providers (TSPs) or even government departments. Alleging that irregularities in the recipients’ accounts are detected or account verification is needed, criminals lure recipients of the messages into clicking on an embedded link and entering a fake website to provide their account login credentials, credit card information, personal information, etc. The criminals will then use such information to make purchases with credit cards or transfer the bonus points out of the recipients’ accounts. The Police have been making every effort to combat various types of fraud cases, including phishing scams, in collaboration with different government departments. Apart from taking intelligence-led enforcement actions, the Police are raising public awareness against this type of crime through public education and promotional activities.
     
         In consultation with the Financial Services and the Treasury Bureau and the Commerce and Economic Development Bureau, the reply to the Member’s question is as follows:
     
    (1) The Police have maintained statistics on phishing scam cases since 2023. In 2023 and 2024, 4 322 and 2 731 cases on phishing scam were received respectively. The monetary losses involved were $102.4 million and $53.5 million respectively. In the first two months of 2025, the Police received a total of 242 phishing scam reports, a decrease of 347 cases (58.9 per cent) as compared with the same period last year. The monetary loss involved decreased by 54.2 per cent to $4.9 million.
     
         The Police do not maintain any breakdown by industry in relation to phishing scams.
     
    (2) “Scameter” has yielded remarkable results since its launch in September 2022. As at February 2025, more than 7.60 million searches had been recorded and about 950 000 alerts on frauds and cyber security risks had been issued. Members of the public had also reported over 355 000 suspicious phone calls and over 38 000 suspicious websites through the public intelligence platform of “Scameter”.
     
         In February 2023, the Police launched a mobile application version, “Scameter+”, to help members of the public distinguish suspicious online platform accounts, payment accounts, phone numbers, email addresses, websites, etc, and to provide the public with anti-fraud tips. “Scameter+” has now been upgraded and is equipped with automatic detection functions, namely the Call Alert function and the Website Detection function, which will automatically identify scam calls and fraudulent websites. If potential fraud or cyber security risk is detected, “Scameter+” will issue a real-time notification, reminding users not to answer the call or browse the website. There is also a public intelligence platform in “Scameter+” for members of the public to report frauds and pitfalls, thereby further enriching its database.
     
         The Police update the database of “Scameter” on a daily basis and will continuously review and enhance its functions, while strengthening other anti-fraud measures in a proactive manner. The database of “Scameter” comprises information collected from reports made by members of the public and obtained by the Police from other channels, including criminal investigations and intelligence. We do not maintain statistics on the percentage of phishing websites reported by the public that have actually been added by the Police to the scam database.
     
         Moreover, under the co-ordination of the Office of the Communications Authority (OFCA), the Police and major TSPs have established a mechanism where TSPs will, based on the fraud records provided by the Police, block the telephone numbers suspected to be involved in deception cases and intercept suspicious website links as soon as possible. As at end February 2025, the TSPs had successfully blocked about 40 000 website links involved in fraud cases and more than 8 600 suspected fraudulent phone numbers at the Police’s request. The OFCA does not maintain any record of the average time required for relevant actions by TSPs.
     
    (3) The Hong Kong Monetary Authority (HKMA) has been closely monitoring the trend of digital frauds and actively encouraging banks to implement effective anti-fraud measures. In line with the HKMA’s guidelines, card-issuing banks have gradually started providing customers with more secure authentication methods since late 2024. Customers can authenticate online payment card transactions through their bank’s mobile application (App) instead of using SMS One-Time Passwords (OTPs). According to banks’ statistics, the related fraud rate has decreased by nearly 80 per cent.
     
         In response to the latest modus operandi of digital frauds, the HKMA announced three new measures in April 2025, and which are succinctly referred to as E-Banking Security ABC. The measures require banks to strengthen E-banking security to further enhance customers’ fraud prevention capabilities.
     
         Firstly, banks are required to implement (A) a new measure called Authenticate in-App by Q4 2025 or earlier. Thereafter, when customers log into Internet banking and conduct high-risk transactions (such as adding new payees, increasing transfer limits, changing the phone number for receiving bank notifications, or binding Internet banking accounts to mobile devices), they will need to conduct authentication through their bank’s mobile App instead of using SMS OTPs. Furthermore, starting in Q3 2025, when customers bind or rebind their mobile devices, they will have to conduct authentication via facial recognition or similarly stringent authentication methods (such as visiting a branch in person), replacing the current practice of using SMS OTP for two-factor authentication. If customers insist on using SMS OTPs for authenticating transactions or device binding, banks will need to follow the HKMA’s requirements, and implement effective risk management measures for those transactions or binding requests, such as enhancing the monitoring of related transactions and deferring the execution of higher-risk transactions. These measures will help gradually phase out the use of SMS OTPs for authentication purposes.
     
         Additionally, banks will also need to implement the remaining two new measures, namely (B) “Bye to unused functions” and (C) “Cancel suspicious payments”, during Q2 2025. The former will give customers the option to deactivate Internet banking functions like increasing transfer limits and adding new payees, to better suit their personal needs while strengthening risk management. The latter will further enhance the effectiveness of the Suspicious Account Alert mechanism, and provide customers with sufficient time to review the alert content.
     
         Together, the three new measures referred to as E-Banking Security ABC mentioned above will offer more comprehensive fraud prevention and protection coverage for bank customers.
     
    (4) The SMS Sender Registration Scheme (the Scheme) was implemented on December 28, 2023, and was fully opened to all industries in February 2024. As at end March 2025, over 495 public and private organisations (including the Immigration Department, the Department of Health, the Police and the Consumer Council) have participated in the Scheme. Under the Scheme, only those companies or organisations qualified as Registered Senders are able to send SMS messages using their Registered SMS Sender IDs with the prefix “#”. TSPs will block fraudulent SMS messages sent by non-Registered Senders via the Internet. In addition, to enhance the implementation effectiveness of the Scheme, the OFCA will, after obtaining the consent of the Registered Senders, request TSPs to prohibit non-“#” SMS messages suspected to impersonate identities of a Registered Sender, further safeguarding the public’s interest. An SMS Sender Registry is available on the OFCA’s website for the public to verify registered companies, and efforts will continue to engage more organisations to participate in the Scheme.
     
         In mid-February this year, there were public enquiries about suspected fraudulent SMS messages with the prefix “#”. The Police and the OFCA were highly concerned. Of the 31 reports received by the Police, two involved monetary losses, totalling about $30,000. The Police subsequently arrested a male and seized illegal radiocommunications apparatus. A joint press briefing with the OFCA was held to brief the public on how to stay vigilant against this type of fraud. The incident was an isolated case, and the relevant apparatus could only affect mobile phones within a limited area without undermining the overall implementation effectiveness of the Scheme. The OFCA has requested all TSPs to enhance monitoring of abnormal network signals, and has established a reporting mechanism. If similar cases are detected in future, the OFCA will promptly co-ordinate with the Police to take follow-up actions.
     
         In response to these illegal activities, the Police will continue to adopt a multipronged approach, including use of technology in fraud prevention and enhanced enforcement actions, to combat fraud on all fronts. Regarding use of technology in fraud prevention, the Police will collaborate with other departments to step up interception of suspicious transactions and fraudulent phone calls. Anti-scam applications will also be upgraded to provide immediate alerts. Enforcement-wise, the Police will carry out rigorous investigation on money laundering activities and stooge accounts, and will work with overseas law enforcement agencies to combat cross-border fraud syndicates.
     
         Apart from resolute law enforcement actions, the Government has adopted a multipronged publicity strategy to enhance public awareness of fraud. The Police will continue to work jointly with the OFCA and the industry in stepping up publicity and education, with a view to raising the public’s anti-deception awareness. The OFCA and TSPs will strengthen monitoring on network signals and take timely response measures when abnormalities are found.
     
         Specifically, in January 2025, the OFCA launched the District Anti-Phone Deception Ambassador Scheme, which received support from more than 150 District Council (DC) members’ ward offices covering 18 districts in Hong Kong with the participation by more than 300 DC members and their staff members, to promote anti-phone scam messages at district level. The OFCA will continue to step up publicity and public education in the community through issuing press releases, broadcasting TV and radio announcements, publishing social media posts, producing and distributing promotional leaflets and posters, and organising various different community activities to deliver anti-phone scam messages to the public more comprehensively. Since 2023, the OFCA has conducted a total of 21 roadshows with Legislative Council Members and DC members, and organised 182 public education and publicity programmes. 
     
         To combat the rampant phishing scams, the Police have increased publicity efforts. Through the Police electronic platform, the website CyberDefender as well as traditional media, the Police have educated the public about common and new tactics used by fraudsters. The Police have warned members of the public not to click onto any hyperlink embedded in messages of unknown sources or suspected to contain phishing websites. Instead, they should contact the relevant institution directly for verification, or carry out risk assessment and fact checking using the “Scameter” or “Scameter+”. For assistance, they are advised to call the Anti-Scam Helpline 18222.
    Issued at HKT 12:20

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India Showcases SVAMITVA as Country Champion at the Ongoing World Bank Land Conference 2025 in Washington DC

    Source: Government of India

    India Showcases SVAMITVA as Country Champion at the Ongoing World Bank Land Conference 2025 in Washington DC

    Sessions on “Good Practices and Challenges in Land Tenure” & “Securing Land Rights for a Billion People” to Foster Dialogue on Inclusive Land Governance

    Posted On: 07 MAY 2025 4:26PM by PIB Delhi

    India, took center stage at the prestigious World Bank Land Conference 2025, held in Washington D.C., reaffirming its global leadership in inclusive land governance and grassroots empowerment. Participating as a Country Champion in the Plenary Session on 6th May 2025, Shri Vivek Bharadwaj, Secretary, Ministry of Panchayati Raj, delivered an address during the High-Level Plenary on “Good Practices and Challenges in Land Tenure and Governance Reform”, articulating India’s leadership in land rights, tenure reforms, and technology-driven spatial planning.

    Under the leadership of Prime Minister Shri Narendra Modi, India’s pioneering SVAMITVA Scheme (Survey of Villages and Mapping with Improvised Technology in Village Areas) has emerged as a transformational initiative in rural land governance. Shri Bharadwaj shared deep insights into the scheme’s journey – beginning with onboarding States, amending State laws and survey rules, and establishing critical technological infrastructure like Continuously Operating Reference Stations (CORS) to enable accurate drone-based mapping. He explained how India’s federal structure requires strategic cooperation, coordination, and community involvement to drive reforms on a national scale.

    In his address, Shri Bharadwaj mentioned the  Peruvian economist Hernando de Soto’s observation about the untapped economic potential locked in informal land holdings. He emphasized that India has surveyed 68,000 square kilometers of rural land under SVAMITVA, unlocking $1.16 trillion worth of assets, thereby offering millions of rural families legal title, dignity, and access to credit and opportunity. Through anecdotes of individuals like a dairy farmer in Madhya Pradesh who expanded his business, or a mother in Rajasthan who funded her daughter’s overseas education, he highlighted how land ownership is being converted into real empowerment.

    The Special Event scheduled on 7th May 2025, titled “Securing Land Rights for a Billion People,” is set to further amplify India’s model of inclusive and technology-driven land governance. Led by the Ministry of Panchayati Raj, the session will open with welcome and opening remarks by Dr. Klaus W. Deininger, Lead Economist, World Bank, followed by an introduction by Mr. Somik V. Lall, Senior Advisor, DECVP, World Bank. The event will spotlight the design, impact, and scalability of the SVAMITVA Scheme, with presentation by Shri Vivek Bharadwaj. An interactive Q&A session will follow, reflecting the growing global interest in India’s transformative approach to rural land governance. The side event will be attended by all delegates of the World Bank Land Conference 2025, including Advisors and Senior Advisors to seven Executive Directors representing regions across Africa, Latin America and the Caribbean (LAC), Central Asia, South Asia, and South East Asia, offering a valuable opportunity for cross-regional dialogue and exchange. The side event will provide a focused platform to discuss the implementation methodology and transformative benefits of the SVAMITVA Scheme with countries that share similar land administration systems. The objective is to explore avenues for collaboration, enabling the Ministry of Panchayati Raj to support and partner with these nations in adopting and adapting similar models in their respective contexts.

    On 8th May 2025, the focus will be on Gram Manchitra, India’s advanced GIS-based spatial planning platform. Shri Alok Prem Nagar, Joint Secretary, Ministry of Panchayati Raj, will present how the platform is facilitating spatially informed decision-making at the Panchayat level, showcasing the integration of cutting-edge technology with grassroots governance to foster sustainable, resilient, and self-reliant villages.

    India’s interventions across these sessions aim to serve not only as a model for participatory and technology-enabled land governance, but also as a call to action for other nations striving to achieve SDG Target 1.4.2 which aims to ensure legal ownership and control over land for all, especially vulnerable communities. Through its presence at the World Bank Land Conference 2025, India has been positioned as a global thought leader in land tenure reforms, rural development, and inclusive governance demonstrating that a data-driven, people-centric approach can effectively bridge centuries-old land insecurity and usher in a new era of legal recognition, dignity, and prosperity for rural citizens.

    ***

    Aditi Agrawal

    (Release ID: 2127523) Visitor Counter : 30

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Tender of 2-year RMB HKSAR Institutional Government Bonds to be held on May 13

    Source: Hong Kong Government special administrative region

    Tender of 2-year RMB HKSAR Institutional Government Bonds to be held on May 13 
    A total of RMB1.5 billion 2-year RMB Bonds will be tendered. The Bonds will mature on May 17, 2027 and will carry interest at the rate of 1.71 per cent per annum payable semi-annually in arrear.
     
    Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk 
    Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK ) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day. 

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Cabinet approves National Scheme for Industrial Training Institute (ITI) Upgradation and Setting up of Five National Centres of Excellence for Skilling

    Source: Government of India

    Posted On: 07 MAY 2025 12:12PM by PIB Delhi

    In a major step towards transforming vocational education in India, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the National Scheme for Industrial Training Institute (ITI) Upgradation and the Setting up of five (5) National Centres of Excellence for Skilling as a Centrally Sponsored Scheme.

    National Scheme for Industrial Training Institute (ITI) Upgradation and Setting up of five (5) National Centres of Excellence (NCOE) for Skilling will be implemented as a Centrally Sponsored Scheme as per announcement, made under Budget 2024-25 and Budget 2025-26 with outlay of Rs.60,000 crore (Central Share: Rs.30,000 crore, State Share: Rs.20,000 crore and Industry Share: Rs.10,000 crore), with co-financing to the extent of 50% of Central share by the Asian Development Bank and the World Bank, equally.

    The scheme will focus on upgradation of 1,000 Government ITIs in hub and spoke arrangement with industry aligned revamped trades (courses) and Capacity Augmentation of five (5) National Skill Training Institutes (NSTIs), including   setting up of five National Centres of Excellence for Skilling in these institutes.

    The Scheme aims to position existing ITIs as government-owned, industry-managed aspirational institutes of skills, in collaboration with State Governments and industry. Over a five-year period, 20 lakh youth will be skilled through courses that address the human capital needs of industries. The scheme will focus on ensuring alignment between local workforce supply and industry demand, thereby facilitating industries, including MSMEs, in accessing employment-ready workers.

    The financial assistance provided under various schemes in the past was suboptimal to meet the full upgradation needs of ITIs, particularly in addressing growing investment requirements for infrastructure upkeep, capacity expansion, and the introduction of capital-intensive, new-age trades. To overcome this, a need-based investment provision has been kept under the proposed scheme, allowing flexibility in fund allocation based on the specific infrastructure, capacity, and trade-related requirements of each institution. For the first time, the scheme seeks to establish deep industry connect in planning and management of ITI upgradation on a sustained basis.   The scheme will adopt an industry-led Special Purpose Vehicle (SPV) model for an outcome-driven implementation strategy, making it distinct from previous efforts to improve the ITI ecosystem.

    Under the scheme, infrastructure upgradation for improved Training of Trainers (ToT) facilities will be undertaken in five National Skill.  Training Institutes (NSTIs), namely Bhubaneswar, Chennai, Hyderabad, Kanpur, and Ludhiana. Additionally, pre-service and in-service training will be provided to 50,000 trainers.

    By addressing long-standing challenges in infrastructure, course relevance, employability, and the perception of vocational training, the scheme aims to position ITIs at the forefront to cater to skilled manpower requirement, aligned to the nation’s journey to becoming a global manufacturing and innovation powerhouse.  It will create a pipeline of skilled workers aligned with industry demand, thereby addressing skill shortages in high-growth sectors such as electronics, automotive, and renewable energy. In sum, the proposed scheme aligns with the  Prime Minister’s vision of Viksit Bharat, with skilling as a key enabler to meet both current and future industry needs.

    Background:

    Vocational education and training can be an immense driver of economic growth and productivity, as India embarks on its aspirational journey towards a developed nation by 2047. Industrial Training Institutes (ITIs) have been the backbone of vocational education and training in India since the 1950s, operating under State Governments. While ITI network has expanded by nearly 47% since 2014, reaching 14,615 across with 14.40 lakh enrolment, vocational training via ITIs remains less aspirational and have also suffered from lack of systemic interventions to improve their infrastructure, and appeal.

    While in the past there have been schemes to support the upgradation of ITIs, it is perhaps, the best time to scale incremental efforts of the last decade through a nationally scalable program for ITI re-imagination with course content and design aligned with industry needs to create a pool of skilled workforce as one of the key enablers to realize the goal of Viksit Bharat.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Banking: Top 25 global banks post 9.4% revenue growth YoY in 2024 but profits under pressure, reveals GlobalData

    Source: GlobalData

    The world’s top 25 global banks reported 9.4% year-on-year (YoY) revenue growth in 2024 despite global economic pressures, with Sberbank Rossii, BBVA, and UBS Group standing out as key performers. However, profit margins were mixed, as many banks faced higher costs, regulatory tightening, and geopolitical uncertainty, highlighting the growing gap between revenue performance and overall financial health, finds GlobalData, a leading data and analytics company.

    Most of the top 25 banks reported YoY growth in their top-line performance, with Sberbank Rossii and BBVA emerging as top performers, posting a growth of 54% and 30.3%, respectively. UBS Group also registered a growth of 22.3%.

    Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “Sberbank Rossii emerged as the top performer in revenue defying broader geopolitical and macroeconomic pressures. The bank reported double-digit revenue growth, supported by a strong rebound in Russia’s domestic economy, stabilizing inflation, and high interest margins but its net income sharply declined into negative territory, reflecting the combined impact of macroeconomic instability, currency depreciation, and mounting operational constraints due to international sanctions.”

    Similarly, BBVA achieved a 28.9% growth in interest income, driven by its geographic diversification, particularly in Mexico and Turkey, where interest margins widened significantly.

    Another bank to deliver outstanding results was UBS Group, with revenue jumping 22.3% YoY, and a robust five-year CAGR of 17.4%—largely reflecting its landmark takeover of Credit Suisse. However, net income plummeted by over 80%, underscoring the short-term cost burdens and integration risks associated with the acquisition.

    Top Chinese banks—ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China—reported modest revenue and income growth. ICBC’s 2024 revenue marginally declined (-0.6% YoY), while Agricultural Bank posted the strongest five-year CAGR in assets among the Chinese peers (8.8%). Margin compression due to policy-induced rate caps and slower domestic economic growth weighed on profitability. Nonetheless, their asset bases continue to expand steadily, reflecting domestic dominance and strong government backing.

    JPMorgan Chase led the revenue charts with an impressive $278.9 billion in 2024, representing a YoY growth of 16.5% and a five-year CAGR of 16.5%. The surge was underpinned by elevated net interest income amid sustained high rates and robust trading performance. Its net income reached $58.5 billion (18% YoY growth), with asset growth moderating to 3.3%, reflecting balance sheet prudence amid tightening regulations.

    Bank of America and Citigroup also benefitted from the high-rate cycle. Citigroup notably recorded a 13.96% revenue CAGR, with 2024 revenues at $170.8 billion. However, asset contraction (-2.4% YoY) reflects restructuring and divestments in underperforming regions.

    European banks, long plagued by negative rates and fragmented markets, appear to be rebounding. BNP Paribas and HSBC posted robust revenue CAGR of 13.1% and 14% respectively, supported by diversified global operations and cost rationalizations. Notably, Societe Generale and Credit Agricole recorded revenue CAGR above 17%, with net income rebounds of over 60% YoY, albeit from low bases. These turnarounds suggest successful strategic pivots and a more favorable interest rate environment in the Eurozone.

    Grandhi concludes: “Looking ahead, global banks face a mixed landscape. Easing inflation could trigger interest rate cuts in the US and Europe, potentially impacting net interest margins. However, this may be offset by the revival in credit demand and easing capital costs. Regulatory tightening, especially in the US and China, will challenge profitability. Additionally, banks exposed to emerging markets must navigate currency volatility and political instability.

    “Digital transformation and green financing will remain pivotal themes. Institutions investing in fintech partnerships, AI-led customer engagement, and ESG-aligned lending are likely to outperform.”

    MIL OSI Global Banks –

  • MIL-OSI Banking: GlobalData revises down global MAT insurance industry growth forecast due to increased US tariffs

    Source: GlobalData

    The global marine, aviation, and transit (MAT) insurance industry, which was forecasted to grow at a compound annual growth rate (CAGR) of 6.9% before the imposition of the reciprocal tariff from the US, is now expected to grow at a CAGR of 6.4% during 2025-29, in terms of written premiums, according to GlobalData, a leading data and analytics company.

    On April 02, 2025, the US President announced “reciprocal” tariffs on imports. These tariffs include a base 10% plus additional tariffs ranging from 10% to 245%. Higher tariffs are typically imposed on specific products, but the blanket tariff rate of 10% on all countries will negatively impact the global economy. The countries that are mostly dependent on exports to the US will be severely impacted. However, there is a hold on this tariff for 90 days, except for China.

    According to GlobalData’s Insurance Database, the US accounted for around 50% of the global MAT insurance premiums in 2024. As per the revised forecast, high reciprocal tariffs will reduce US MAT insurance premiums by 1.4% in 2025, whereas the premiums of global MAT insurance will be impacted by 0.7%. The US is the largest importer in the world, with Mexico, China, Canada, Germany, and Japan being the top 5 exporting countries in 2023, accounting for 53% of the total US imports.

    GlobalData expects the CAGR of MAT insurance premiums during 2025-29 to reduce by 0.5pp in Mexico, 0.6pp in China, 0.5pp in Canada, 0.5pp in Germany, and 0.2pp in Japan.

    Swarup Kumar Sahoo, Senior Insurance Analyst at GlobalData, comments: “The ‘Liberation Day’ tariff will disrupt the global MAT insurance as the premium growth will slow down in 2025 and subsequent years compared to the previous forecast. Although the global MAT business will experience a temporary surge during April-June 2025 due to the 90-day pause in the tariff, the growth will slow down once the tariff is in place. This will also impact the profitability of MAT insurers across the world.”

    The US has imposed a tariff in the range of 20% (Germany and Italy) to 245% (China) on the top 10 exporters, which contribute 69% of the total US imports, according to the Observatory of Economic Complexity (OEC). Marine cargo business of all the markets except Canada and Mexico will be impacted, whereas for Mexico and Canada, which account for 29% of the total US imports, the aviation cargo and transit insurance will be disrupted.

    Sahoo adds: “The decline in MAT premiums growth rate will be due to both a decline in exports and the value of exported goods. In case the exporter absorbs the cost of the tariff, the cost of goods will go down, and this will reduce the sum insured and the respective premium amount. On the other hand, if the importer bears this, it will be passed on to the consumer, leading to a decline in demand.”

    To offset higher tariffs, importers have started either consolidating shipments or increasing the order size. The risk of theft and damage has increased due to the concentration of high-value goods at various points. Furthermore, the imposition of revised tariffs across countries will create complexities in customs clearance, leading to an increase in demurrage and detention fees.

    Insurers are expected to incur additional costs to rewrite such policies by considering the complexities and associated additional risks. Additionally, increased claims in marine cargo, aviation cargo, and transit will impact the profitability of insurers.

    Starting May 02, 2025, the US will eliminate the exemption of import tariffs on goods under $800 from China and Hong Kong. Due to this, DHL has suspended high-value business-to-consumer shipments to the US. Also, various airlines have suspended air cargo services for high-value goods. This will directly impact the air cargo insurance business.

    Sahoo concludes: “The imposition of the higher tariff will disrupt the global MAT insurance, impacting premiums growth, while increasing the associated risks. Insurers need to be vigilant as higher claims would erode profitability. Furthermore, MAT insurers in the US will lose their global market share as they write half of the global MAT business.”

    MIL OSI Global Banks –

  • MIL-OSI Economics: Top 25 global banks post 9.4% revenue growth YoY in 2024 but profits under pressure, reveals GlobalData

    Source: GlobalData

    The world’s top 25 global banks reported 9.4% year-on-year (YoY) revenue growth in 2024 despite global economic pressures, with Sberbank Rossii, BBVA, and UBS Group standing out as key performers. However, profit margins were mixed, as many banks faced higher costs, regulatory tightening, and geopolitical uncertainty, highlighting the growing gap between revenue performance and overall financial health, finds GlobalData, a leading data and analytics company.

    Most of the top 25 banks reported YoY growth in their top-line performance, with Sberbank Rossii and BBVA emerging as top performers, posting a growth of 54% and 30.3%, respectively. UBS Group also registered a growth of 22.3%.

    Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “Sberbank Rossii emerged as the top performer in revenue defying broader geopolitical and macroeconomic pressures. The bank reported double-digit revenue growth, supported by a strong rebound in Russia’s domestic economy, stabilizing inflation, and high interest margins but its net income sharply declined into negative territory, reflecting the combined impact of macroeconomic instability, currency depreciation, and mounting operational constraints due to international sanctions.”

    Similarly, BBVA achieved a 28.9% growth in interest income, driven by its geographic diversification, particularly in Mexico and Turkey, where interest margins widened significantly.

    Another bank to deliver outstanding results was UBS Group, with revenue jumping 22.3% YoY, and a robust five-year CAGR of 17.4%—largely reflecting its landmark takeover of Credit Suisse. However, net income plummeted by over 80%, underscoring the short-term cost burdens and integration risks associated with the acquisition.

    Top Chinese banks—ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China—reported modest revenue and income growth. ICBC’s 2024 revenue marginally declined (-0.6% YoY), while Agricultural Bank posted the strongest five-year CAGR in assets among the Chinese peers (8.8%). Margin compression due to policy-induced rate caps and slower domestic economic growth weighed on profitability. Nonetheless, their asset bases continue to expand steadily, reflecting domestic dominance and strong government backing.

    JPMorgan Chase led the revenue charts with an impressive $278.9 billion in 2024, representing a YoY growth of 16.5% and a five-year CAGR of 16.5%. The surge was underpinned by elevated net interest income amid sustained high rates and robust trading performance. Its net income reached $58.5 billion (18% YoY growth), with asset growth moderating to 3.3%, reflecting balance sheet prudence amid tightening regulations.

    Bank of America and Citigroup also benefitted from the high-rate cycle. Citigroup notably recorded a 13.96% revenue CAGR, with 2024 revenues at $170.8 billion. However, asset contraction (-2.4% YoY) reflects restructuring and divestments in underperforming regions.

    European banks, long plagued by negative rates and fragmented markets, appear to be rebounding. BNP Paribas and HSBC posted robust revenue CAGR of 13.1% and 14% respectively, supported by diversified global operations and cost rationalizations. Notably, Societe Generale and Credit Agricole recorded revenue CAGR above 17%, with net income rebounds of over 60% YoY, albeit from low bases. These turnarounds suggest successful strategic pivots and a more favorable interest rate environment in the Eurozone.

    Grandhi concludes: “Looking ahead, global banks face a mixed landscape. Easing inflation could trigger interest rate cuts in the US and Europe, potentially impacting net interest margins. However, this may be offset by the revival in credit demand and easing capital costs. Regulatory tightening, especially in the US and China, will challenge profitability. Additionally, banks exposed to emerging markets must navigate currency volatility and political instability.

    “Digital transformation and green financing will remain pivotal themes. Institutions investing in fintech partnerships, AI-led customer engagement, and ESG-aligned lending are likely to outperform.”

    MIL OSI Economics –