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Category: Banking

  • MIL-OSI United Kingdom: Government steps in to back British business in changing world

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government steps in to back British business in changing world

    The Chancellor announces a multi-billion-pound increase in government-backed financing.

    British businesses across the country have today been given further stability and certainty with access to new support through a multi-billion-pound increase in government-backed financing as the world enters a new era of global trade.

    The new package will give UK Export Finance (UKEF) the power to expand financing support for British businesses by £20 billion, with small businesses also able to access loans of up to £2 million through the British Business Bank’s Growth Guarantee Scheme.

    Thousands of companies are expected to benefit from the move, including those directly affected by tariffs – with iconic British brands like Rolls Royce through to local businesses like Alicat Workboats previously benefitting from similar programmes.  

    Today’s boost reaffirms government’s commitment to free and open trade, and means an £80 billion boost for businesses, meaning they can access government-backed finance and support to grow their presence both domestically and overseas, create new jobs and drive economic growth as part of the Plan for Change.

    New measures come as prime minister goes further and faster to boost growth, working in partnership with business to deliver it.

    This week alone has seen swift and decisive action from the government to protect UK businesses and workers by:

    • Taking action to keep British Steel operating, saving thousands of jobs
    • Increasing flexibility on the zero-emission vehicle (ZEV) mandate to help British carmakers
    • Cutting the red tape that slows down clinical trials in the life sciences sector
    • Investing up to £600 million in a new Health Data Research Service
    • Backing a £30 million package to support the reopening of Doncaster Sheffield Airport which is expected to support 5,000 jobs and boost the economy by £5 billion

    Chancellor of the Exchequer, Rachel Reeves said:   

    The world is changing, which is why it is more important than ever to back our world-leading businesses and support them to navigate the challenges ahead. 

    Today’s announcement will do that just, with thousands of businesses right across the country set to benefit. 

    We are going further and faster to boost growth, but we cannot do it alone. Only by working with businesses will we achieve our Plan for Change and put more money into people’s pockets. 

    Business and Trade Secretary, Jonathan Reynolds said:

    Our message to British business is clear – we’ve got your back. This package, backed by the British Business Bank and UKEF, will be a crucial shot in the arm to exporters and small firms looking to trade around the world.

    Within a changing world, we need to adapt, and as part of our Plan for Change, this Government is responding. These changes will help to boost growth support jobs and supercharge thousands of businesses across all four corners of the country.

    UKEF will also offer businesses partial loan guarantees through more flexible uses of its Export Development Guarantee, helping to mitigate the impact of new tariffs and associated economic uncertainty. Of the £80 billion, up to £10 billion will be allocated to ensure that businesses significantly impacted in the short term by the current situation have access to the finance they need to grow.

    The British Business Bank will also expand its Growth Guarantee Scheme by £500 million, which will provide vital finance for smaller businesses as they look to invest and grow. This scheme provides the lender with a 70% government-backed guarantee against loans or other types of finance, enabling lenders to support smaller businesses that would struggle to obtain financing through traditional means – and has so far enabled more than £2.1 billion of lending. 

    This comes on top of £1 billion of funding for British Business Bank programmes for this financial year, confirmed at Autumn Budget 2024. This includes additional support for smaller housebuilders through the ENABLE Build programme, funding for Start Up Loans and additional funding for three equity programmes supporting innovative high growth businesses

    This week, the Chancellor and Business and Trade Secretary also took part in the 13th UK-India Economic and Financial Dialogue (EFD) in order to strengthen ties between the two countries. In addition to India, the UK is negotiating trade deals with partners including the Gulf Cooperation Council, South Korea and Switzerland, which will give businesses more opportunities than ever before to expand into new markets.

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    Published 14 April 2025

    MIL OSI United Kingdom –

    April 15, 2025

  • MIL-OSI: SuMi TRUST and GCM Grosvenor Announce Strategic Partnership and Investment to Expand Private Markets Offerings

    Source: GlobeNewswire (MIL-OSI)

    TOKYO and CHICAGO, April 14, 2025 (GLOBE NEWSWIRE) — Tokyo-based Sumitomo Mitsui Trust Bank (“SuMi TRUST”), a leading trust bank, and Chicago-based GCM Grosvenor Inc. (“GCM Grosvenor”) (Nasdaq: GCMG), a leading global alternative asset management solutions provider, have announced a strategic partnership to offer clients best-in-class alternative investment products to capitalize on the attractive Japanese market demand for alternative investment solutions that add value to investment portfolios.

    The strategic partnership further strengthens a long-term collaboration between the firms. The partnership will significantly expand both firms’ presence in global markets by leveraging SuMi TRUST’s strong presence in Japan and GCM Grosvenor’s decades of private markets expertise. SuMi TRUST Group collectively has one of the largest asset bases in Asia, with a particularly diverse client base in the Japanese market. The partnership aims to expand SuMi TRUST’s initiatives in private markets assets, expand the distribution of GCM Grosvenor’s private market investment products to investors in Japan, and jointly develop private markets investment products focused on Japanese markets for distribution to SuMi TRUST clients in Japan as well as to GCM Grosvenor clients globally. The two firms are targeting at least $1.5 billion of additional assets under management from the partnership by 2030.

    “Our strategic plan envisions significant growth in private markets strategies through 2030,” said Futoshi Itani, Representative Director and Deputy President of SuMi TRUST. “We have a strong, long-standing relationship with GCM Grosvenor, built on trust, cultural alignment and a successful track record. They are a perfect partner to help us deliver opportunities to invest in private assets as market conditions and regulatory environments evolve. We will provide these private assets solutions to investors, through our strong and various channels.”

    “We are thrilled to deepen our strong relationship with SuMi TRUST,” said Michael Sacks, Chairman and CEO of GCM Grosvenor. “Japan is a key growth market for GCM Grosvenor, with strong and growing demand for alternative investment solutions that match our firms’ investment capabilities, and SuMi TRUST is an ideal partner to capture the growth in this market together. This partnership aligns well with both firms’ strategic plans, and we are honored to be working with SuMi TRUST on this important initiative. The combination of our extensive private markets manufacturing experience and SuMi TRUST’s installed client base and distribution capabilities should enhance both of our firms’ growth rates.”

    The two companies have collaborated since 2016 across private equity, credit, and infrastructure strategies. As part of this partnership, SuMi TRUST has agreed to purchase $50 million in newly issued shares of GCM Grosvenor Class A common stock and committed $100 million in the fourth quarter of 2024 to Elevate, GCM Grosvenor’s private equity seeding strategy.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

    About Sumitomo Mitsui Trust Bank
    Sumitomo Mitsui Trust Bank, Limited forms the core of SuMi TRUST Group, a listed trust bank group in Japan, which excels in numerous trust-related business areas, such as asset management and wealth management. SuMi TRUST Group collectively has one of the largest asset bases in Asia, including both assets under custody and assets under management. With a diverse client base ranging from pension funds and other financial institutions to individuals, SuMi Trust offers a wide range of investment products, including alternative investment solutions.

    About GCM Grosvenor
    GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.

    Forward Looking Statements
    This press release contains forward-looking statements with respect to GCM Grosvenor under federal securities laws. All statements other than statements of historical facts contained herein, including without limitation statements regarding the expected closing of the sale of stock by GCM Grosvenor to SuMi TRUST and the strategic partnership between the parties are forward-looking statements reflecting the current beliefs and expectations of GCM Grosvenor management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements, including those included in GCM Grosvenor’s Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the Securities and Exchange Commission. The forward-looking statements included in this press release speak only as of the date of this press release, and GCM Grosvenor does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

    Media Contacts:
    GCM Grosvenor:
    Tom Johnson and Abigail Ruck 
    H/Advisors Abernathy  
    tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global 
    212-371-5999

    The MIL Network –

    April 15, 2025

  • MIL-OSI Banking: Samsung Introduces Galaxy XCover7 Pro and Galaxy Tab Active5 Pro: Ruggedized Devices for Frontline Excellence

    Source: Samsung

    Samsung Electronics America today announced the new Galaxy XCover7 Pro and Galaxy Tab Active5 Pro, enterprise-ready devices designed to meet the demands of today’s fast-paced, high-intensity work environments. Continuing the legacy of Samsung’s ruggedized devices, these latest Pro models are versatile, optimized and secure — delivering enhanced durability,1 steady performance, and optimized workflows to empower frontline workers, from the office to the field and beyond.
    With 5G connectivity,2 an upgraded processor, and increased memory, the XCover7 Pro and Tab Active5 Pro offer enhanced mobility and reliability. The XCover7 Pro features a powerful new stereo speaker system with anti-feedback technology, which minimizes unwanted audio loops for clearer communication. Both devices offer enhanced battery capacity, with the XCover7 Pro equipped with a 4,350mAh battery for longer usage, while the Tab Active5 Pro comes with a 10,100mAh battery set designed to support demanding workflows. The Tab Active5 Pro also supports Dual Hot-Swap battery functionality, allowing workers to replace batteries3 without powering down their device and ensuring seamless operation even when battery levels are low.

    With the ruggedized smartphone market expected to reach 4.46 million units and the ruggedized tablet market projected to hit 1.89 million units by 2028,4 these devices can be increasingly essential in industries such as retail, government, logistics, healthcare, and manufacturing. Reliable, high-performing, and durable, they can be critical for ensuring seamless operations in any work environment.
    “At Samsung, we understand that frontline professionals need technology that adapts to their fast-paced and demanding work environments,” said Jerry Park, EVP and Head of Global Mobile B2B Team, MX Business at Samsung Electronics. “The Galaxy XCover7 Pro and Galaxy Tab Active5 Pro combine ruggedized durability, enterprise-grade security, seamless connectivity, and intuitive AI-driven features to help businesses operate efficiently in harsh conditions while maximizing productivity and minimizing downtime.”

    MIL OSI Global Banks –

    April 15, 2025

  • MIL-OSI Banking: OEUK news Public asked to join energy conversations as OEUK hosts UK-wide debates 14 April 2025

    Source: Offshore Energy UK

    Headline: OEUK news

    Public asked to join energy conversations as OEUK hosts UK-wide debates

    14 April 2025

    Accessibility Statement

    • oeuk.org.uk
    • 14 April 2025

    Compliance status

    We firmly believe that the internet should be available and accessible to anyone, and are committed to providing a website that is accessible to the widest possible audience, regardless of circumstance and ability.

    To fulfill this, we aim to adhere as strictly as possible to the World Wide Web Consortium’s (W3C) Web Content Accessibility Guidelines 2.1 (WCAG 2.1) at the AA level. These guidelines explain how to make web content accessible to people with a wide array of disabilities. Complying with those guidelines helps us ensure that the website is accessible to all people: blind people, people with motor impairments, visual impairment, cognitive disabilities, and more.

    This website utilizes various technologies that are meant to make it as accessible as possible at all times. We utilize an accessibility interface that allows persons with specific disabilities to adjust the website’s UI (user interface) and design it to their personal needs.

    Additionally, the website utilizes an AI-based application that runs in the background and optimizes its accessibility level constantly. This application remediates the website’s HTML, adapts Its functionality and behavior for screen-readers used by the blind users, and for keyboard functions used by individuals with motor impairments.

    If you’ve found a malfunction or have ideas for improvement, we’ll be happy to hear from you. You can reach out to the website’s operators by using the following email [email protected]

    Screen-reader and keyboard navigation

    Our website implements the ARIA attributes (Accessible Rich Internet Applications) technique, alongside various different behavioral changes, to ensure blind users visiting with screen-readers are able to read, comprehend, and enjoy the website’s functions. As soon as a user with a screen-reader enters your site, they immediately receive a prompt to enter the Screen-Reader Profile so they can browse and operate your site effectively. Here’s how our website covers some of the most important screen-reader requirements, alongside console screenshots of code examples:

    1. Screen-reader optimization: we run a background process that learns the website’s components from top to bottom, to ensure ongoing compliance even when updating the website. In this process, we provide screen-readers with meaningful data using the ARIA set of attributes. For example, we provide accurate form labels; descriptions for actionable icons (social media icons, search icons, cart icons, etc.); validation guidance for form inputs; element roles such as buttons, menus, modal dialogues (popups), and others. Additionally, the background process scans all the website’s images and provides an accurate and meaningful image-object-recognition-based description as an ALT (alternate text) tag for images that are not described. It will also extract texts that are embedded within the image, using an OCR (optical character recognition) technology. To turn on screen-reader adjustments at any time, users need only to press the Alt+1 keyboard combination. Screen-reader users also get automatic announcements to turn the Screen-reader mode on as soon as they enter the website.

      These adjustments are compatible with all popular screen readers, including JAWS and NVDA.

    2. Keyboard navigation optimization: The background process also adjusts the website’s HTML, and adds various behaviors using JavaScript code to make the website operable by the keyboard. This includes the ability to navigate the website using the Tab and Shift+Tab keys, operate dropdowns with the arrow keys, close them with Esc, trigger buttons and links using the Enter key, navigate between radio and checkbox elements using the arrow keys, and fill them in with the Spacebar or Enter key.Additionally, keyboard users will find quick-navigation and content-skip menus, available at any time by clicking Alt+1, or as the first elements of the site while navigating with the keyboard. The background process also handles triggered popups by moving the keyboard focus towards them as soon as they appear, and not allow the focus drift outside it.

      Users can also use shortcuts such as “M” (menus), “H” (headings), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements.

    Disability profiles supported in our website

    • Epilepsy Safe Mode: this profile enables people with epilepsy to use the website safely by eliminating the risk of seizures that result from flashing or blinking animations and risky color combinations.
    • Visually Impaired Mode: this mode adjusts the website for the convenience of users with visual impairments such as Degrading Eyesight, Tunnel Vision, Cataract, Glaucoma, and others.
    • Cognitive Disability Mode: this mode provides different assistive options to help users with cognitive impairments such as Dyslexia, Autism, CVA, and others, to focus on the essential elements of the website more easily.
    • ADHD Friendly Mode: this mode helps users with ADHD and Neurodevelopmental disorders to read, browse, and focus on the main website elements more easily while significantly reducing distractions.
    • Blindness Mode: this mode configures the website to be compatible with screen-readers such as JAWS, NVDA, VoiceOver, and TalkBack. A screen-reader is software for blind users that is installed on a computer and smartphone, and websites must be compatible with it.
    • Keyboard Navigation Profile (Motor-Impaired): this profile enables motor-impaired persons to operate the website using the keyboard Tab, Shift+Tab, and the Enter keys. Users can also use shortcuts such as “M” (menus), “H” (headings), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements.

    Additional UI, design, and readability adjustments

    1. Font adjustments – users, can increase and decrease its size, change its family (type), adjust the spacing, alignment, line height, and more.
    2. Color adjustments – users can select various color contrast profiles such as light, dark, inverted, and monochrome. Additionally, users can swap color schemes of titles, texts, and backgrounds, with over seven different coloring options.
    3. Animations – person with epilepsy can stop all running animations with the click of a button. Animations controlled by the interface include videos, GIFs, and CSS flashing transitions.
    4. Content highlighting – users can choose to emphasize important elements such as links and titles. They can also choose to highlight focused or hovered elements only.
    5. Audio muting – users with hearing devices may experience headaches or other issues due to automatic audio playing. This option lets users mute the entire website instantly.
    6. Cognitive disorders – we utilize a search engine that is linked to Wikipedia and Wiktionary, allowing people with cognitive disorders to decipher meanings of phrases, initials, slang, and others.
    7. Additional functions – we provide users the option to change cursor color and size, use a printing mode, enable a virtual keyboard, and many other functions.

    Browser and assistive technology compatibility

    We aim to support the widest array of browsers and assistive technologies as possible, so our users can choose the best fitting tools for them, with as few limitations as possible. Therefore, we have worked very hard to be able to support all major systems that comprise over 95% of the user market share including Google Chrome, Mozilla Firefox, Apple Safari, Opera and Microsoft Edge, JAWS and NVDA (screen readers).

    Notes, comments, and feedback

    Despite our very best efforts to allow anybody to adjust the website to their needs. There may still be pages or sections that are not fully accessible, are in the process of becoming accessible, or are lacking an adequate technological solution to make them accessible. Still, we are continually improving our accessibility, adding, updating and improving its options and features, and developing and adopting new technologies. All this is meant to reach the optimal level of accessibility, following technological advancements. For any assistance, please reach out to [email protected]

    MIL OSI Global Banks –

    April 15, 2025

  • MIL-OSI Economics: Fabio Panetta: Opening of The Adventure of Money “From Gold to the Digital Euro” exhibition

    Source: Bank for International Settlements

    Mr President of the Autonomous Province of Trento,
    Mr Mayor, Rector,
    Distinguished Authorities,
    Ladies and Gentlemen,

    Let me begin by expressing my sincere gratitude to the organizers of the Festival of Economics – the Autonomous Province of Trento, Trentino Marketing, and the 24 Ore Group – as well as to the Fondazione Caritro, which graciously hosts us today, for their invitation to take part in this inaugural event.

    The exhibition we are opening today offers a preview of the future Money Museum, whose permanent home will be in Rome, on Via Nazionale.

    The Adventure of Money is a journey through five thousand years of history, a journey in which economics, society, politics and technology converge. It is a narrative that traces the evolution of the major monetary and financial phenomena, with the aim of making accessible a heritage often perceived as distant or obscure.

    The past helps us understand the present better. Tools, technologies and objects now obsolete continue to speak to us: they reveal how societies have sought to meet needs that, in their essence, remain with us today.

    The gold coins displayed here, for example, tell stories spanning centuries: bearing the likeness of emperors, recounting the economic might of cities such as Florence, or the maritime exploits of Venice.

    Were we to melt them all down, we would be left with a single, modest ingot, and yet their value far exceeds the precious metal they contain. That added value stems from the trust that the issuing institutions were able to inspire – a trust that transformed simple metal discs into stable, recognized and widely accepted instruments of exchange.

    From a certain point in history – illustrated with clarity throughout this exhibition – trust in money ceased to rest only on the material of which it was made or on the authority of the sovereign who issued it.

    Over time, the foundation of trust in money shifted – from metal and monarch to the prudent governance of central banks, whose role is to preserve price stability, ensure the soundness of financial systems, and maintain public confidence. This remains the guiding purpose of the Bank of Italy and the entire European System of Central Banks. The decision to devote an exhibition – and soon a museum – to the history of money and finance is part of a broader financial education initiative, aimed at providing citizens with the tools to navigate complex areas such as payments, credit and the management of personal savings.

    Money and finance are often viewed as technical, remote, even dry subjects. Precisely for this reason, the exhibition – and the museum that will follow – employs narrative techniques and immersive technologies, to make even the most intricate concepts accessible and to spark curiosity, especially among younger generations.

    In the long historical development of payment instruments over time, there have been relatively few major milestones, yet each has marked a profound transformation. From minted coinage – often in precious metals – we moved to the banknote, first convertible, then purely fiduciary, and finally to modern electronic payment systems. Each of these transitions accompanied pivotal moments in economic history, contributing to ever greater speed, safety and efficiency in transactions.

    Yet innovation continues. Today’s payment instruments, though highly advanced, still have limitations.

    It is within this context that the ambitious European project of the digital euro takes shape: a digital form of central bank money, free of charge, accessible to all, privacy-protective, and anchored to the stable value of physical cash. This innovation will not replace current banknotes, but will complement them, thus expanding our options and strengthening our monetary system.

    In this sense, The Adventure of Money is more than just the title of an exhibition. It is the thread that connects a millenary history – one that continues to evolve and, today in Trento, links itself to new generations and new horizons.

    Thank you.

    MIL OSI Economics –

    April 15, 2025

  • MIL-OSI Economics: Sharon Donnery: Resilience, risk and regulation – anchoring stability in a rules-based international order

    Source: Bank for International Settlements

    Introduction

    Two timeless pieces of wisdom were inscribed on the ancient walls of Apollo’s temple at Delphi: “Know yourself” and “Nothing in excess.”

    These words were meant as philosophical guidance, but they evoke what a banking supervisor might advise today: “know your risks and don’t engage in excessive risk-taking!”

    Risk-taking is intrinsic to banking – it’s what allows capital to be allocated and innovation to flourish. Yet, history has repeatedly shown us the dire consequences of losing sight of those Delphic maxims. Risk is a constant in finance, but the nature of that risk – and the task of managing it – has grown ever more complex in the 2,500 years since those words were carved in stone.

    Technological progress has accelerated not only the pace at which we operate, but also the speed at which risks spread through the financial system. Artificial intelligence has the potential to rapidly and profoundly transform not just finance, but the broader economy and society as a whole too. Cyber risk is now easily a top priority for modern risk managers. Crypto-assets, stablecoins and central bank digital currencies may all transform the payments and banking landscape, reshaping how value is exchanged, how financial services are delivered, and even how monetary policy is transmitted.

    Climate and nature-related risks are on the rise and a declining global commitment to mitigate and adapt to these climate risks could lead to more physical and transition risks in the future.

    Globalisation has made the world more interconnected, contributing to economic prosperity, but it has also made it easier for risks to spread throughout the system. Because globalisation thrives on predictability and trust, it inherently relies on internationally agreed rules to provide stability, fairness and a level playing field. Yet, in recent years, rising geopolitical fragmentation has been putting pressure on these very rules and the institutions that uphold them.

    MIL OSI Economics –

    April 15, 2025

  • MIL-OSI Economics: Swaminathan J: Shared vision, shared responsibility – strenghtening NBFCs

    Source: Bank for International Settlements

    CA Shri Charanjot Singh Nanda, President, Institute of Chartered Accountants of India; Chairpersons of the Audit Committee of the Boards, MDs & CEOs of NBFCs, and Statutory Auditors of NBFCs, Executive Directors from RBI and my colleagues from the Reserve Bank of India, Ladies and Gentlemen. A very good morning to all of you.

    It is an honour to address this esteemed gathering representing the key pillars of the NBFC ecosystem -CEOs entrusted with driving business responsibly, Chairpersons of Audit Committees overseeing assurance, Statutory Auditors who ensure transparency and integrity, along with regulators and supervisors committed to maintaining financial stability and fostering a sound regulatory environment. The theme of our engagement today – “Shared Vision, Shared Responsibility – Strengthening the NBFCs” – could not be more timely or relevant.

    The evolution of the NBFC sector is indeed a story of entrepreneurial energy, innovation and social impact. However, as the sector grows in scale and systemic importance, so too must our efforts to reinforce its foundations. A resilient, customer-centric, and well-governed NBFC sector is a shared aspiration – and delivering on it our shared responsibility.

    NBFCs have emerged as powerful engines of credit. By complementing the traditional banking system, they have significantly expanded access to credit, particularly for segments that have historically been underserved or excluded. Through innovative credit delivery models that harness technology and local insights, NBFCs have been able to design customised financial products tailored to diverse borrower needs. Their agility and close connect with customers have enabled them to play a role that is not only complementary to the role traditionally played by banks but, in many instances, catalytic in building a financial ecosystem characterised by deeper intermediation and wider opportunity.

    The importance of NBFCs has only grown with time. In fact, over the past decade, their growth has consistently outpaced that of banks – a trend that has become even more pronounced in the last few years. This rapid growth is a testament to the sector’s relevance and resilience – but it also raises the stakes. As NBFCs become more systemically important, the standards of governance, risk management, and customer treatment must rise accordingly.

    Understanding the Risks- Need for Responsible Innovation

    The business model of NBFCs – while effective – comes with its own set of structural risks. Their funding is short-term as compared to the maturity of their lending or is directed towards higher-risk customer segments.

    This maturity and credit transformation is at the heart of the NBFC model – but it also demands a heightened focus on risk management. If not carefully managed, it can create vulnerabilities, especially during periods of market stress or liquidity shocks.

    Risk-taking must be intelligent and well planned, and never beyond the risk absorption capacity of the entity concerned. Liquidity and credit risks must be rigorously assessed and managed. Asset-liability mismatches, nature and tenor of the funding sources, and concentration risks all need board-level oversight which should be ably supported by robust internal controls.

    Growth with Fairness: Customer-Centricity is Non-Negotiable

    Most importantly, even as we pursue scale, speed, and profits, we must not lose sight of fairness to the customer – that is the cornerstone of a sustainable business model. The NBFC sector must live up to its promise of inclusion by treating customers with dignity, transparency, and care. This entails ensuring transparent and easy-to-understand pricing, free from hidden charges or usurious interest rates. In instances of default, recovery practices must be conducted in an empathetic and respectful manner.

    Unfortunately, some NBFCs think they can pursue a business model where it is par for the course to resort to weak underwriting in pursuit of quick growth, coupled with excessive and unsustainable interest rates – at times masked as upfront charges or processing fees – which is followed by aggressive recovery practices upon default. Let me state unequivocally: this is not an acceptable model. Financial inclusion cannot be used as a pretext for financial exploitation. I urge each one of you to commit your institutions to upholding fairness in all your dealings.

    This responsibility for fair conduct is shared commitment by the CEO, the Board, and assurance functions in any entity. A customer-centric culture must be driven from the top and embedded at all levels.

    How do we ensure that our shared vision is realised, and our collective responsibilities are fulfilled? One of the most effective ways is by strengthening both internal and external assurance mechanisms.

    Strengthening Oversight: the Role of Audit Committee

    Let me begin with the Audit Committee of the Board (ACB). Far from being a routine compliance requirement, the ACB is the lynchpin of institutional oversight and long-term financial health. It plays a critical role in reinforcing governance, guiding management on assurance, and ensuring the integrity of internal control systems. When functioning effectively, it becomes a proactive forum for identifying vulnerabilities and initiating timely corrective actions.

    The role of the Audit Committee Chairperson is particularly significant in setting the tone for effective governance. It is essential that committee meetings are held regularly, conducted with clear purpose, and thoroughly documented to ensure accountability and follow-through.

    The effectiveness of the Committee is in the substance of its deliberations. The ACB must actively monitor the adequacy and functioning of internal control systems – not merely to confirm their presence, but to ensure they are operating effectively in practice. Similarly, audit observations should not remain confined to meeting minutes; they must translate into timely and meaningful corrective actions. A strong ACB also tracks audit findings and ensures that corrective measures are implemented without delay.

    Equally important is the establishment of an effective whistleblower mechanism overseen by the Board or the ACB which empowers employees and grants them anonymity, to report unethical or non-compliant behaviour, without fear of reprisal.

    CEOs too have a crucial role in upholding the integrity of financial reporting. They must actively deter any attempts-whether deliberate or cleverly disguised-to misapply accounting standards or regulatory provisions. It is equally important to foster an environment where the Chief Financial Officer and Head of Internal Audit feel empowered to engage in open, honest, and transparent dialogue with the Audit Committee of the Board.

    The Crucial Role of Statutory Auditors

    Now let me come to the role of Statutory Auditors, who are an indispensable part of the assurance ecosystem. In fact, the role of auditors has never been more critical – not merely in checking compliance, but in upholding trust. And trust, once lost, is hard to rebuild.

    Auditors are expected to provide an independent, professional opinion on whether the financial statements present a true and fair view of the NBFC’s financial position and comply with regulatory and accounting standards. However, in today’s complex and dynamic environment, this is no longer enough.

    Recent incidents – both in India and abroad – have shown that traditional financial audits must evolve. Auditors must bring technical expertise, forensic insight, and an ethical lens to their work. Red flags must not be ignored. Complex structures, derivatives, off-balance sheet items, related party transactions, and provisioning policies must be closely examined.

    Facilitative Role of Regulators and Supervisors

    As regulators and supervisors, we shoulder a dual responsibility – to safeguard stability and discipline, while also fostering an environment that encourages innovation, inclusion, and sustainable growth. Contrary to perception in certain quarters, our approach actively seeks to strike the right balance. At the Reserve Bank of India, we are acutely aware that regulation is not merely about control; it is about enabling responsible financial intermediation within a well-defined and transparent framework. Several initiatives in recent years reflect this facilitative and proportionate approach to regulation. In my previous role as a commercial banker, I had the fortuitous opportunity to be closely associated with one such initiative -the Regulations Review Authority 2.0 – which reinforced the RBI’s strong commitment to easing the regulatory burden and streamlining compliance without compromising regulatory objectives.

    The regulatory framework for NBFCs has evolved in the recent years with this understanding – gradually moving toward greater harmonisation with banks where warranted, while still preserving operational flexibility suited to the unique role NBFCs play in the financial system. The introduction of the scale-based regulatory framework explicitly recognises that the intensity of regulation and supervision must be proportionate to systemic importance. At the same time, the regulatory architecture encourages the development of responsible innovation and healthy competition in the sector.

    Similarly, the role of the supervisor has also become more interactive and forward-looking. It is not just about identifying compliance breaches after the fact, but about engaging with entities to strengthen internal systems, enhance governance, and build resilience against emerging risks. Through onsite inspections, offsite surveillance, thematic reviews, and structured engagements, the supervisory process aims to be a partner in the financial sector’s long-term soundness – not an impediment to its progress.

    Conclusion

    Our shared vision is clear: a dynamic, inclusive, and trusted NBFC sector that complements the banking system and serves the evolving needs of the Indian economy. And the way to achieve it is through shared responsibility – in governance, in customer protection, in financial prudence, and in ethical conduct.

    We in the regulatory community stand committed to supporting this journey. Our intent is not to stifle innovation but to ensure that growth is sustainable, risks are well-managed, and customer trust is never compromised. On behalf of the RBI, I can assure you that as regulators and supervisors we will remain committed to playing our part, not just as watchdogs, but as enablers of a robust, inclusive, and future-ready financial ecosystem.

    This conference gives us an opportunity to reflect on how we can contribute to this shared agenda. Whether making strategic decisions, chairing audit committees, or signing off on financials, drafting regulations or conducting supervision – we are shaping the sector’s future.

    Therefore, let us work together – with clarity of purpose and unity of action – to build a stronger, fairer, and more resilient NBFC ecosystem. Wealth creation should not just be for personal or institutional gain but to support the community, reflecting a sense of shared responsibility amongst all of us, in our pursuit to achieve an inclusive growth for all and realise the vision of Viksit Bharat 2047.

    With this I wish you all fruitful and enriching deliberations over the course of this conference and look forward to the ideas and insights that will emerge in pursuit of our shared vision. Thank you for this opportunity and wish you all good luck, Jai Hind!

    MIL OSI Economics –

    April 15, 2025

  • MIL-OSI Economics: Claudia Buch: European banking integration – harnessing the benefits, containing the risks

    Source: Bank for International Settlements

    Thank you very much for inviting me to speak here today. Poland’s presidency of the Council of the European Union comes at time of exceptional uncertainty. The global economy is under strain from heightened geopolitical risks, trade tensions, and financial market volatility. Within Europe, this is adding to the pressure to revive growth and deepen the integration of the Single Market. Poland’s economic history holds important lessons, having made the transition from a centrally planned economy four decades ago to being a fully-fledged member of the EU for two decades.

    I would like to focus on banking integration, one of the banking union’s main objectives and a key component of Poland’s economic transformation. Although more than ten years have passed since the banking union was established, its objectives could not be more relevant today. The banking union has clearly delivered in terms of providing better, more harmonised supervision, a stronger regulatory framework and a resolution regime. European banks have proven to be resilient to recent shocks, including the COVID-19 pandemic, the energy crisis and the banking market turmoil of March 2023. Better regulation and supervision have made a significant contribution to this, as has policy support for the real economy.

    Yet hopes that the banking union would lead to closer integration of banking markets across Europe have not fully materialised. Cross-border mergers have remained relatively rare, about 75% of banks’ lending portfolios are invested in their home markets, and few banks have truly European business models.

    Promotion of the Single Market for banking services by removing barriers to integration would offer many benefits. This would allow for better diversification of risks and better use of scale and scope. Banks could develop European strategies as a response to the digitalisation of financial services. Recent reports on the European economy stress the need to strengthen productivity by harnessing the Single Market’s scale, improving access to equity finance, reforming the labour market and implementing structural reforms. Consumers would benefit from these measures, which would also help to promote growth. Although these reports focus mainly on the real economy, similar factors are at play in the banking sector.

    MIL OSI Economics –

    April 15, 2025

  • MIL-OSI Economics: François Villeroy de Galhau: A European approach to simplification – avoiding three misconceptions, and suggesting concrete milestones

    Source: Bank for International Settlements

    Ladies and Gentlemen, 

    I am pleased to attend this Eurofi Summit here in Warsaw – the birthplace of Marie Skłodowska-Curie, renowned French-Polish scientist and two-time Nobel laureate. A great European as well, currently among the shortlisted personalities to appear on future euro banknotes. Let me start with one strong belief on Europe, which is our common safe haven. In this newly chaotic world, we have an absolute duty and a unique opportunity to enhance our economic power, which means accelerating on at least two positive solutions: (i) to build a digital euro to anchor our monetary sovereignty, in partnership with commercia banks, (ii) to have now a comprehensive legislative package put forward by the Commission to integrate more the Single market and the Savings and Investments Union, following the Draghi and Letta Reports. On both fronts, waiting in tetany or stupefaction would be lethal, and speed is of the essence: let us act faster and further.

    Coming back to science, financial stability and banking regulation must likewise be built on rigour – but also on clarity. In times of heightened uncertainty, we must not lose sight of the fundamental “why” that underpins our regulatory architecture. 

    I will first elaborate on three misconceptions and one rightful takeaway for simplification (I), before suggesting a few concrete milestones to go down the road (II).

    MIL OSI Economics –

    April 15, 2025

  • MIL-OSI: StoneX to Acquire R.J. O’Brien, Creating a Market Leader in Global Derivatives

    Source: GlobeNewswire (MIL-OSI)

    • Transformational acquisition strengthens StoneX’s position as a leading Futures Commission Merchant (FCM) with a premier global derivatives platform
    • R.J. O’Brien is the oldest futures brokerage in the United States, founded in 1914
    • Firms share a complementary focus on client service and prudent risk management
    • Transaction adds over 75,000 clients and grows StoneX client float to over $13 billion
    • Cross-sell opportunities will drive material revenue synergies, particularly in over-the-counter (OTC) derivatives, physical commodity trading, and fixed income products
    • Acquisition expected to enhance margins, EPS, and return on equity
    • Consolidation of operations expected to drive more than $50mm in expense synergies and unlock at least $50mm in capital synergies

    NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) — StoneX Group Inc. (NASDAQ: SNEX) (“StoneX”) today announced that it has entered into a definitive agreement to acquire R.J. O’Brien (“RJO”), the oldest futures brokerage in the U.S., for an equity value of approximately $900 million. The purchase price will be paid in a combination of cash and shares of StoneX common stock. StoneX will also assume up to $143 million of RJO debt. The acquisition significantly strengthens StoneX’s position as a leading FCM and enhances its role as an essential part of the global financial market structure, offering institutional grade execution, clearing, custody, and prime brokerage across all asset classes.

    With over 110 years of futures and clearing expertise, RJO, through its FCM and global affiliates, supports over 75,000 client accounts and serves the industry’s largest global network of introducing brokers (“IBs”), as well as commercial and institutional clients, and individual investors.

    As a result of the acquisition, RJO’s clients will benefit from StoneX’s extensive range of markets, products, and services, including an expansive over-the-counter (“OTC”) hedging platform, physical commodities hedging, financing, and logistic services, as well as access to deep liquidity across fixed income products.

    The acquisition expands StoneX’s client float by nearly $6 billion, adds nearly 300 IBs to its network, and is projected to increase cleared listed derivatives volume by ~190 million contracts annually.

    RJO brings an attractive financial profile to StoneX, having generated $766 million in revenue and approximately $170 million in EBITDA during calendar 2024.

    Sean O’Connor, Executive Vice-Chairman of StoneX, commented on the transaction: “This is a transformational transaction for StoneX, establishing us as a leading global derivatives clearing firm and reinforcing our position as an integral part of the global market structure across asset classes. Combining R.J. O’Brien’s extensive client network and proven clearing capabilities with StoneX’s deep liquidity, innovative OTC hedging solutions, and leading risk management infrastructure, we are well-positioned to continue to deliver exceptional services, broader market access, and industry-leading trading solutions to our combined client base. We are very pleased that Gerry Corcoran, who has been the CEO and driving force behind RJO, will continue on with StoneX in a senior leadership role.”

    Gerry Corcoran, Chairman and CEO of RJO, spoke to the significance of the deal: “We’re extraordinarily excited about this partnership between two great companies that each bring over a century of history in the futures industry and complementary capabilities, products, services, and cultures. We both prioritize a profound commitment to our clients and a focus on prudent risk management. In addition to all the products we offer today, our clients and brokers will have a plethora of new products and services across asset classes available at their fingertips, bringing meaningful new trading and hedging opportunities. At the same time, our organization will benefit from new efficiencies, premier technologies, and greater growth potential.”

    Financing, Balance Sheet Impact, and Approvals

    StoneX is acquiring RJO for approximately $900 million in equity value, comprised of $625 million in cash and approximately 3.5 million shares of StoneX common stock, each subject to customary purchase price adjustments. StoneX has obtained fully committed bridge financing for the cash portion of the consideration and plans to issue approximately $625 million of long-term debt prior to the closing date.

    The transaction is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions.

    Advisors

    Bank of America is acting as exclusive financial advisor to StoneX and is providing committed debt financing for the acquisition. Davis Polk & Wardwell LLP is serving as StoneX’s legal counsel. Broadhaven Capital Partners is acting as exclusive financial advisor to RJO, and Mayer Brown LLP is serving as its legal advisor.

    Webcast and Conference Call Information

    The Company will host a conference call to discuss the transaction today at 9:00 a.m. Eastern time. A live webcast of the conference call as well as additional information to review during the call will be made available in PDF form online on the Company’s corporate website at https://register.vevent.com/register/BIe20141cf7fd043c89fde461964a3582e approximately ten minutes prior to the start time. Participants may preregister for the conference call here.

    About StoneX Group Inc.

    StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-100 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ: SNEX), StoneX Group Inc. and its more than 4,600 employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 self-directed/retail accounts, from more than 80 offices spread across six continents. Further information on the Company is available at www.stonex.com.

    About R.J. O’Brien

    Founded in 1914, R.J. O’Brien & Associates is one of the leading futures brokerage and clearing firms in the United States, serving more than 75,000 institutional, commercial and individual clients globally, in addition to a network of approximately 300 IBs. RJO services the industry’s most expansive global network of IBs, a vast array of middle market firms and many of the world’s largest financial, industrial and agricultural institutions. The firm offers state-of-the-art electronic trading and 24-hour trade execution on every major futures exchange worldwide. RJO received the FOW International Award for Non-Bank FCM of the Year for five consecutive years, and the firm and its UK affiliate have earned eight honors from the HFM Global publications (now With Intelligence) in recent years.

    Cautionary Note Regarding Forward-Looking Statements
    Statements in this release that are not historical facts are “forward-looking” statements and “safe harbor statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in StoneX’s public filings with the Securities and Exchange Commission. Forward-looking statements are based on management’s current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements about the benefits of the proposed acquisition of RJO, including expected synergies and future financial and operating results, the plans, objectives, expectations and intentions of StoneX after the acquisition, the expected timing to close the acquisition and the expected use of proceeds of any debt financing. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Therefore, we caution you against relying on any of these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the risks related to the proposed acquisition and the integration of RJO as well as the risks and other factors described in StoneX’s periodic reports filed with the Securities and Exchange Commission. In providing forward-looking statements, StoneX is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If StoneX updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

    Media Contact:

    Cognito Media
    StoneX@cognitomedia.com

    Investor Relations Inquiries:

    Kevin Murphy
    (212) 403 – 7296
    kevin.murphy@stonex.com
    SNEX-G

    The MIL Network –

    April 14, 2025

  • MIL-OSI: Enlight Raises a Total of $1.5 Billion in Project Finance Following its Third U.S. Financial Close Within Four Months

    Source: GlobeNewswire (MIL-OSI)

    The financial close for Quail Ranch includes $243 million of construction loans; COD is expected towards the end of 2025

    Enlight’s three U.S. projects now under construction have a combined capacity of 1.4 FGW and are projected to generate total annual revenues of $135-140 million

    TEL AVIV, Israel, April 14, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, announces the financial close for project Quail Ranch (“Quail Ranch” or “the Project”), located near Albuquerque, New Mexico, USA. The Company, through its U.S. subsidiary Clenera Holdings LLC, has secured $243 million in construction financing commitments for the Project.

    Combining 128 MW solar generation with 400 MWh of battery storage capacity, Quail Ranch is scheduled for completion towards the end of 2025. Offtake for both generation and storage volumes is secured by a 20-year busbar PPA with the Public Service Company of New Mexico (“PNM”).

    The Project is an expansion of Atrisco, which commenced commercial operation in 2024. The shared infrastructure between the two sites accelerated Quail Ranch’s development and will reduce construction and operating costs. Both projects are situated on a desert plateau at an elevation of 1,800 meters, offering optimal solar generation conditions.

    Quail Ranch’s financial close joins those of Roadrunner and Country Acres, two other projects now under construction in the U.S., which have achieved a total of $1.5 billion in financing over the past four months with the same consortium of lenders. The three projects have a combined capacity of 1.4 FGW and are expected to generate annual revenues of $135-140 million and EBITDA of $100-110 million when commencing operations in 2025-2026.

    The financial close was led by a consortium of four global banks, including BNP Paribas Securities Corp, Crédit Agricole, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale (Nord/LB). Upon the Project’s COD, the construction loan is expected to convert into a $120 million term loan. The Project is expected to be eligible for the Energy Community Tax Credit Bonus, and the Company anticipates finalizing a tax equity transaction during 2025.

    Gilad Yavetz, CEO of Enlight, said, “We are proud to have achieved the exceptional milestone of three significant financial closings within such a short timeframe, completing the funding for the second wave of Enlight’s U.S. projects. When operational, they will join Atrisco and Apex to generate combined annual revenues of approximately $200 million in the U.S. Quail Ranch completed its financial close after the administration announced its new tariff policy, demonstrating the project’s strength and the Company’s preparedness for this scenario.

    “Additionally, Enlight is focused on advancing the development of two additional megaprojects in the western U.S. with a combined capacity of 2.6 FGW, and which are located in areas with some of the highest solar irradiation in the country. The new projects are part of the Company’s third wave in the U.S., and construction is expected to begin in the coming months.”

    “I am very proud to partner with world-leading banks and complete a third major funding package this year,” said Adam Pishl, CEO and President of Clenera. “We continue to demonstrate our ability to bring high-quality projects banks remain excited about, despite market turbulence. Quail Ranch builds on our incredible success in New Mexico and will help meet the high demand for power to fuel American businesses and homes.”

    About Enlight Renewable Energy

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023. Learn more at www.enlightenergy.co.il.

    Investor Contact

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, the impact of tariffs on the cost of construction and our ability to mitigate such impact, , sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

    April 14, 2025

  • MIL-OSI USA: Disaster Recovery Center Re-Opening in Lee County

    Source: US Federal Emergency Management Agency 2

    Disaster Recovery Center Re-Opening in Lee County

    FRANKFORT, Ky. – The Disaster Recovery Center in Lee County is re-opening Monday, April 14, to offer in-person support to Kentucky survivors who experienced loss as the result of the February 14 – March 7 severe storms, straight-line winds, flooding, landslides and mudslides.The Disaster Recovery Center in Lee County is located at:Happy Top Park Community Center, 500 Happy Top Road, Beattyville, KY 41311Working days and hours are April 14 – April 18, Monday through Friday, 9 a.m. to 7 p.m. Eastern Time.FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs. Representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U.S. Small Business Administration (SBA) will also be available at the recovery centers to assist survivors.To find all other center locations, including those in other states, go to fema.gov/drc or text “DRC” and a Zip Code to 43362. You can visit any open center to meet with representatives of FEMA, the commonwealth of Kentucky and the U.S. Small Business Administration. No appointment is needed. FEMA is encouraging Kentuckians affected by the February storms to apply for federal disaster assistance as soon as possible. Kentucky homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson and Woodford counties can apply for federal assistance.The deadline to apply for FEMA assistance is Friday, April 25.If you are unable to visit a Disaster Recovery Center, there are other ways to apply: online at DisasterAssistance.gov, use the FEMA App for mobile devices or call 800-621-3362. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service.When you apply, you will need to provide:A current phone number where you can be contacted.Your address at the time of the disaster and the address where you are now staying.Your Social Security Number.A general list of damage and losses.Banking information if you choose direct deposit.If insured, the policy number or the agent and/or the company name.For an accessible video on how to apply for FEMA assistance, go to youtube.com/watch?v=WZGpWI2RCNw.For more information about Kentucky flooding recovery, visit www.fema.gov/disaster/4860. Follow the FEMA Region 4 X account at x.com/femaregion4.
    martyce.allenjr
    Fri, 04/11/2025 – 20:09

    MIL OSI USA News –

    April 14, 2025

  • MIL-OSI Economics: Survey on the Access to Finance of Enterprises: firms report lower interest rates amid reduced need for bank loans

    Source: European Central Bank

    14 April 2025

    • Firms reported declining interest rates on bank loans, while indicating a slight further tightening of other lending conditions.
    • The bank loan financing gap remained almost unchanged, with firms reporting a reduced need for such loans alongside a slight decrease in availability.
    • Firms’ one-year-ahead median inflation expectations decreased slightly to 2.9%, down from 3%, while median inflation expectations three and five years ahead remained unchanged at 3.0%.

    In the most recent round of the Survey on the Access to Finance of Enterprises (SAFE), covering the first quarter of 2025, euro area firms reported a net decrease in interest rates on bank loans (a net ‑12%, compared with a net ‑4% in the previous quarter), suggesting that monetary policy easing is being transmitted to firms. At the same time, a net 24% (a net 22% in the previous quarter) observed increases in other financing costs (i.e. charges, fees and commissions) (Chart 1).

    In this survey round, firms indicated a reduction in the need for bank loans (net ‑4%, unchanged from the fourth quarter of 2024, Chart 2). At the same time, firms reported broadly stable availability of bank loans (a net ‑1%, down from a net 2% in the previous quarter). This left the bank loan financing gap – an index capturing the difference between the need for and the availability of bank loans – broadly unchanged (a net ‑1%, after a net 1% in the previous survey round). The current composite financing gap indicator – which includes bank loans, credit lines and trade credit as well as debt securities and equity – is reaching levels historically associated with periods of monetary policy easing. Looking ahead, firms expect a modest improvement in the availability of external financing over the next three months.

    Firms continued to perceive the general economic outlook to be the main factor hampering the availability of external financing, as in the previous survey round (a net ‑21%, compared with a net ‑22%). A net 7% of firms indicated an improvement in banks’ willingness to lend (down from a net 8% in the previous survey round).

    A net 6% of firms reported an increase in turnover over the last three months, unchanged from the previous survey round, with a significantly higher percentage of firms becoming optimistic about developments in the next quarter (a net 30%, up from a net 11%). More firms saw a deterioration in their profits compared with the previous survey round (a net ‑16%, down from ‑14% in the previous survey round). The survey indicates that the net percentage of firms reporting rising cost pressures had also increased over the past three months.

    Firms’ expectations of selling prices over the next 12 months were unchanged, while expectations for wage costs slightly decreased, driven by lower expected pressures in the services sector (Chart 3). On average, firms’ selling price expectations remained unchanged at 2.9%, while the corresponding figure for wages was 3.0% (down from 3.3% in the previous round). At the same time, firms signalled a slight increase in other production costs (4%, up from 3.8% in the previous round).

    Firms’ inflation expectations for the short term slightly decreased, while remaining unchanged at longer horizons (Chart 4). Median expectations for annual inflation one year ahead declined by 0.1 percentage point to 2.9%, while those for three and five years ahead saw no changes, standing at 3.0%. For inflation five years ahead, fewer firms reported balanced risks (30%, down from 33% in the previous round). A higher percentage of firms is seeing risks to the five-year-ahead inflation as being tilted to the upside (55%, up from 51% in the previous round), which was mirrored by a decline in the proportion of those perceiving risks to the downside (14%, down from 16%).

    The report published today presents the main results of the 34th round of the SAFE survey for the euro area. The survey was conducted between 10 February and 21 March 2025. In this survey round, firms were asked about economic and financing developments over two different reference periods. Around half of firms were asked about changes in the period between October 2024 and March 2025. The remainder, all from the 12 largest euro area countries, were asked about changes in the period between January and March 2025. Additionally, firms also reported their expectations for euro area inflation, selling prices, and other costs. Altogether, the sample comprised 11,022 firms in the euro area, of which 10,167 (92%) had fewer than 250 employees.

    For media queries, please contact Benoit Deeg tel.: +49 172 1683704.

    Notes

    Chart 1

    Changes in the terms and conditions of bank financing for euro area firms

    Base: Firms that had applied for bank loans (including subsidised bank loans), credit lines, or bank or credit card overdrafts. The figures refer to rounds 27 to 34 of the survey (April-September 2022 to October 2024-March 2025).

    Notes: Net percentages are the difference between the percentage of firms reporting an increase for a given factor and the percentage reporting a decrease. The Expectations for selling prices, wages, input costs and employees one year ahead, by size class

    Base: All firms. The figures refer to rounds 29 to 34 (September 2023 to March 2025) of the survey, with firms’ replies collected in the last month of the respective survey waves.

    Notes: Average euro area firms’ expectations of changes in selling prices, wages of current employees, non-labour input costs and number of employees for the next 12 months using survey weights. The statistics are computed after trimming the data at the country-specific 1st and 99th percentiles. The data included in the chart refer to Question 34 of the survey.

    Chart 4

    Firms’ median expectations for euro area inflation by size class

    (annual percentages)

    Base: All firms. The figures refer to pilot 2 and rounds 30 to 34 (December 2023 to March 2025) of the survey, with firms’ replies collected in the last month of the respective survey waves.

    Notes: Median firms’ expectations for euro area inflation in one year, three years and five years, calculated using survey weights. The statistics are computed after trimming the data at the country-specific 1st and 99th percentiles. The data included in the chart refer to Question 31 of the survey.

    MIL OSI Economics –

    April 14, 2025

  • MIL-OSI Asia-Pac: Analytical Accounts of Exchange Fund

    Source: Hong Kong Government special administrative region

    Analytical Accounts of Exchange Fund 
    Foreign assets, representing the external assets of the Exchange Fund, decreased during the month by HK$24.0 billion to HK$3,415.9 billion.
     
    The Monetary Base, comprising Certificates of Indebtedness, Government-issued currency notes and coins in circulation, the balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$1,977.1 billion.
     
    Claims on the private sector in Hong Kong amounted to HK$342.3 billion.
     
    Foreign liabilities amounted to HK$30.7 billion.
     
    The analytical accounts of the Exchange Fund are released in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex).
     
    *********************************************************
     
    At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s SDDS. The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of April 2025, the scheduled dates for issuing the press releases are as follows:
     

    CategoriesMIL-OSI

    Post navigation

    April 7
    (Issued)(Hong Kong’s Latest Foreign Currency Reserve Assets Figures) (Analytical Accounts of the Exchange Fund) Foreign Currency Liquidity Currency Board Account Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News –

    April 14, 2025

  • MIL-OSI: Correction: HSBC Bank Plc – Form 8.5 (EPT/RI) – Bakkavor Group plc

    Source: GlobeNewswire (MIL-OSI)

    Amended
    FORM 8.5 (EPT/RI)

    PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
    Rule 8.5 of the Takeover Code (the “Code”)

    1.         KEY INFORMATION

    (a) Name of exempt principal trader: HSBC Bank Plc
    (b) Name of offeror/offeree in relation to whose relevant securities this form relates:
         Use a separate form for each offeror/offeree    		 Bakkavor Group plc
    (c) Name of the party to the offer with which exempt principal trader is connected: OFFEROR: Greencore Group plc
    (d) Date dealing undertaken: 08 April 2025
    (e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer?
         If it is a cash offer or possible cash offer, state “N/A”    		 Greencore Group plc    

    2.         DEALINGS BY THE EXEMPT PRINCIPAL TRADER

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchases/ sales

     

    		 Total number of securities Highest price per unit paid/received
    (GBP)    		 Lowest price per unit paid/received
    (GBP)
    Ordinary Shares Sale 5,000 178.400 p 178.400 p
    Ordinary Shares Purchase 2,732 180.300 p 180.300 p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description Nature of dealing Number of reference securities Price per unit (GBP)
    e.g. CFD e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Ordinary Shares Swap Increasing a Long Position 5,000 178.400 p
    Ordinary Shares Swap Reducing a Long Position 2,732 180.300 p

    (c)        Stock-settled derivative transactions (including options)

    (i)         Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

     

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
       

     

    		    

    3.         OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state “none”
     

    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
    (i)  the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
     

    None
    Date of disclosure: 14 April 2025
    Contact name: Dhruti Singh
    Telephone number: 0207 088 2000

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. 

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

    April 14, 2025

  • MIL-OSI: Sydbank share buyback programme: transactions in week 15

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 15/2025

    		 Peberlyk 4
    6200 Aabenraa
    Denmark

    Tel +45 74 37 37 37
    Fax +45 74 37 35 36

    Sydbank A/S
    CVR No DK 12626509, Aabenraa
    sydbank.dk
    14 April 2025  

    Dear Sirs

    Sydbank share buyback programme: transactions in week 15
    On 26 February 2025 Sydbank announced a share buyback programme of DKK 1,350m. The share buyback programme commenced on 3 March 2025 and will be completed by 31 January 2026.

    The purpose of the share buyback programme is to reduce the share capital of Sydbank and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

    The following transactions have been made under the share buyback programme:

      Number of shares VWAP Gross value (DKK)
    Accumulated, most recent
    announcement

    360,000

    		  

    156,409,900.00
    07 April 2025
    08 April 2025
    09 April 2025
    10 April 2025
    11 April 2025    		 30,000
    30,000
    33,000
    25,000
    25,000    		 357.99
    373.69
    366.11
    383.41
    381.72    		 10,739,700.00
    11,210,700.00
    12,081,630.00
    9,585,250.00
    9,543,000.00
    Total over week 15 143,000   53,160,280.00
    Total accumulated during the
    share buyback programme

    503,000

    		  

    205,570,180.00

    All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.

    Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and Commission delegated regulation, is available in the attachment.

    Following the above transactions, Sydbank holds a total of 3,890,670 own shares, equal to 7.12% of the Bank’s share capital.

    Yours sincerely
            
    Mark Luscombe        Jørn Adam Møller
    CEO        Deputy Group Chief Executive

    Attachment

    • SM 15 UK incl. enc

    The MIL Network –

    April 14, 2025

  • MIL-OSI: Danske Bank share buy-back programme: transactions in week 15

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 18 2025

    Danske Bank

    Bernstorffsgade 40

    DK-1577 København V

    Tel. + 45 33 44 00 00

    14 April 2025

    Page 1 of 1

    Danske Bank share buy-back programme: transactions in week 15

    On 7 February 2025, Danske Bank A/S announced a share buy-back programme for a total of DKK 5 billion, with a maximum of 45,000,000 shares, in the period from 10 February 2025 to 30 January 2026, at the latest, as described in company announcement no. 6 2025.

    The Programme is carried out in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions on Nasdaq Copenhagen A/S were made under the share buy-back programme in week 15:
      Number of shares VWAP DKK Gross value DKK
    Accumulated, last announcement 2,374,865 228.3460 542,290,998
    07/04/2025 360,000 190.1452 68,452,272
    08/04/2025 50,000 199.2885 9,964,425
    09/04/2025 50,000 196.1034 9,805,170
    10/04/2025 50,000 203.5539 10,177,695
    11/04/2025 50,000 201.4238 10,071,190
    Total accumulated over week 15 560,000 193.6978 108,470,752
    Total accumulated during the share buyback programme 2,934,865 221.7348 650,761,750

    With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.340% of Danske Bank A/S’ share capital.

    Danske Bank

    Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    • Danske Bank Company announcement_UK

    The MIL Network –

    April 14, 2025

  • MIL-OSI Banking: Phase Two of Tech4Nature Jaguar Protection Project Launched in Mexico

    Source: Huawei

    Headline: Phase Two of Tech4Nature Jaguar Protection Project Launched in Mexico

    [Merida, Mexico, April 14, 2025] At the recent 2025 Tech4Nature Summit, Huawei, International Union of Conservation for Nature (IUCN), and local partners launched Phase Two of the Mexico Tech4Nature project, which aims to strengthen the protection of jaguars in Dzilam de Bravo State Reserve and study the effects of climate change on biodiversity.
    Alongside Huawei and IUCN, the launch was officiated by Mexico’s Ministry of Environment and Natural Resources, the State Government of Yucatán, and local partner C-Minds.
    “In Mexico, 42% of our country’s ecosystems face some degree of degradation that we have to work towards solving. This involves monitoring and a lot of restoration work, but it also means something more important, which is precisely what we’re seeing thanks to this alliance,” said Dr. Marina Robles García, Undersecretary of Biodiversity and Environmental Restoration for the Ministry of Environment and Natural Resources in Mexico.
    Aligned with Huawei’s TECH4ALL initiative and the IUCN Green List, Tech4Nature is a global partnership launched by Huawei and IUCN in 2020 to scale up success in nature conservation through technological innovation.
    “Today we celebrate a shared vision, a vision that understands that conservation can no longer depend solely on good intentions or isolated policies. We need science, technology, empowered communities, and committed governments,” said Joaquín Díaz Mena, Governor of Yucatán in Mexico, at the 2025 Tech4Nature Summit.
    Due to habitat loss and fragmentation, the jaguar is classified as Near Threatened on the IUCN Red List. To contribute to its conservation, the first phase of the project installed 60 audio devices and more than 20 camera traps in Dzilam de Bravo State Reserve. Using trained AI models, the system is able to recognize the vocalizations and images of species that inhabit the reserve. By April 2025, the solution had identified a total of 147 species and confirmed the presence of nine jaguars in the territory.
    The second phase of the project focuses on gathering data about the distribution of jaguar populations, and providing data-driven insights to support decision-making and improve reserve management with a view to creating a biological corridor.
    The 2025 Tech4Nature Summit brought together experts, scientists, and conservation leaders from around the world to share advances and strategies in technology-driven nature conservation.
    “Digital technology is making biodiversity conservation much more efficient and helping governments and conservationists take faster, more targeted action,” said Tao Jingwen, Director of the Board and Director of the Corporate Sustainable Development Committee for Huawei. “I want to call on more of our partners to join the Tech4Nature initiative to make digital technology a common tool for global ecosystem conservation.”
    As well as Mexico, the summit explored Tech4Nature Phase Two projects in Brazil, China, Spain, Kenya, and Türkiye, showcasing how digital technologies and AI analytics can be adapted to the specific needs of diverse ecosystems.
    “Building on our momentum so far, we look forward to the second phase of this partnership with great anticipation. This new chapter will address six countries, promoting transformative change for species, ecosystems, and their communities,” said Úrsula Parrilla, Director, Regional Office for Mexico, Central America and the Caribbean (ORMACC) for IUCN. “By integrating technology into large-scale conservation, we contribute to global goals that seek to put nature at the center of decision-making for sustainable development.”
    Tech4Nature phase two projects
    Brazil will study the impact of climate change on Marajó Island and monitor the mangrove crab as an indicator of ecosystem health.
    China uses networked digital solutions and AI analytics to track and support the repopulation of the world’s rarest primate, the Hainan gibbon, just 42 of which remain in existence.
    Spain aims to protect the Bonelli’s eagle in Sant Llorenç del Munt i l’Obac Natural Park by using digital technologies to analyze the impact of park visitors on the eagles’ reproductive success.
    Kenya aims to improve monitoring in protected marine areas and coral reef in Kisite-Mpunguti Marine National Park and Reserve to help tackle issues such as illegal fishing and pressure from tourism, and monitor the parrot fish, which helps coral survive.
    Türkiye represents a pioneering collaboration between NGOs, the private sector, and the government to evaluate biodiversity protection, with a focus on large mammals, including the fallow deer and wild goat in two pilot sites.
    The 2025 Tech4Nature Summit attested to how collaboration between the technology sector, NGOs, governments, academic institutions, and local communities has created a new paradigm for protecting biodiversity and ecosystems.

    MIL OSI Global Banks –

    April 14, 2025

  • MIL-OSI: Theta Capital Publishes Annual “The Satellite View” Report – A Deep Dive into the Future of Blockchain Investing

    Source: GlobeNewswire (MIL-OSI)

    AMSTERDAM, April 14, 2025 (GLOBE NEWSWIRE) — Theta Capital, the largest European investor in blockchain venture capital, has published its annual report on venture capital investment in blockchain technology, “The Satellite View”, synthesizing insights from leading venture capitalists and founders on the forces shaping blockchain investing in 2025.

    Spanning institutional adoption, AI’s convergence with crypto, the rise of real-world blockchain infrastructure (DePIN), and the next evolution of consumer applications, the report distills complex trends into actionable investor takeaways, separating signal from noise in one of the most transformative years in the industry’s history.

    The Satellite View is compiled from Theta Capital’s annual Legends4Legends event on blockchain technology and its investment opportunities with the top minds in the industry. The report presents bold predictions from leading experts including many of the crypto-native venture funds Theta invests in, with insights on the blockchain industry, investment opportunities, themes and strategies. Unlike other industry reports, The Satellite View is written by investors for investors, offering exclusive insights from top venture capitalists and founders.

    The report focuses on five key takeaways from 2025’s biggest shifts:

    • How stablecoins, tokenized real-world assets (RWAs) & institutional DeFi are becoming core components of global financial infrastructure.
    • How AI relies on blockchain to unlock global resource networks, ensuring transparency, security and economic coordination in a “less-centralized” AI future.
    • Why Decentralized Physical Infrastructure (DePIN) is set for a breakout year, transforming energy, data, and connectivity markets.
    • How blockchain infrastructure maturing is opening the path for consumer applications to deliver better-than-Web2 quality user experiences.
    • How crypto is reshaping attention markets, where behavior as content and social engagement merge into investable assets.

    “2025 is not just another market cycle—it’s a year of structural transformation. Institutions are integrating digital assets at scale, AI is leveraging crypto for coordination and verifiability, and the era of real-world blockchain infrastructure has arrived,” said Ruud Smets, Managing Partner & CIO at Theta Capital. “The Satellite View is built for investors who need to understand the full picture of where the industry is going.”

    The report highlights a critical turning point in the digital asset space: the merger of traditional financial markets and crypto is no longer theoretical—it’s happening now.

    • Stablecoins now hold hundreds of billions in U.S. Treasuries, solidifying their role as key sources of global liquidity.
    • Tokenized markets for equities, bonds, and real estate are moving from pilots to mainstream adoption.
    • Banks and asset managers are leveraging blockchain for trading, settlement, and collateralization, integrating crypto into core financial infrastructure.

    Leading figures from the space who participated included J. Christopher Giancarlo (Former CFTC Chairman), Lasse Clausen (Founding Partner, 1kx), Nic Carter (Founding Partner, Castle Island), Robert Mitchnick (Head Digital Assets, BlackRock), Vance Spencer (Co-Founder, Framework Ventures), Jon Charbonneau (Co-Founder, DBA), Alex Pack (Managing Partner, Hack VC), Olaf Carlson-Wee (Founder, Polychain Capital), Andrej Radonjic (Founder, Grass), Balder Bomans (Managing Partner, Maven 11), Christopher Perkins (President, CoinFund), Min Teo (Co-Founder, Ethereal Ventures), Franklin Bi (General Partner, Pantera Capital), Catrina Wang (General Partner, Portal Ventures), Nick Tomaino (Founder, 1confirmation), Mike Zajko (Co-Founder, Lattice Capital), Tarun Chitra (Managing Partner, Robot VC and CEO, Gauntlet), Michael Jordan (Co-Founder, DBA), Clay Robbins (CEO, Colosseum), Tyler Spalding (President, Acronym Foundation), Carlos Pereira (Partner, BITKRAFT), Hootie Rashidifard (Founder, Hash3), Mike Dudas (Managing Partner, 6MV), Shaishav Todi (General Partner, Lemniscap) and Jason Kam (Founder, Folius Ventures).

    Whether you’re a venture capitalist, hedge fund manager, institutional allocator, or entrepreneur, The Satellite View provides the strategic clarity needed to navigate 2025’s evolving landscape. The full report is now available. For access, visit https://thetacapital.com/the-satellite-view/ or contact info@thetacapital.com.

    ENDS

    About Theta Capital

    Founded in 2001, Theta Capital Management has been among the earliest and largest institutional investors globally to invest in blockchain technology, having deployed capital in the space since January 2018. Theta Capital works with over 45 deeply specialized VC partners leading to more than 1,000 venture style investments in the technology. Deep domain expertise has led to a leading position in the universe of crypto-native venture capital.

    For further information, please visit:

    http://www.thetacapital.com/

    Contact:

    ir@thetacapital.com

    The MIL Network –

    April 14, 2025

  • MIL-OSI: Share repurchase programme: Transactions of week 15 2025

    Source: GlobeNewswire (MIL-OSI)

    The share repurchase programme runs as from 26 February 2025 and up to and including 30 January 2026 at the latest. In this period, Jyske Bank will acquire shares with a value of up to DKK 2.25 billion, cf. Corporate Announcement No. 3/2025 of 26 February 2025. The share repurchase programme is initiated and structured in compliance with the EU Commission Regulation No. 596/2014 of 16 April 2014, the so-called “Market Abuse Regulation”, and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions have been made under the program:

      Number of
    shares    		 Average purchase
    price (DKK)    		 Transaction
    value (DKK)
    Accumulated, previous announcement 453,342 555.40 251,788,361
    7 April 2025 51,500 476.95 24,562,992
    8 April 2025 56,900 481.76 27,412,133
    9 April 2025 59,391 472.81 28,080,635
    10 April 2025 60,344 494.79 29,857,819
    11 April 2025 23,696 488.09 11,565,721
    Accumulated under the programme 705,173 529.33 373,267,661

    Following settlement of the transactions stated above, Jyske Bank will own a total of 3,470,291 of treasury shares, excluding investments made on behalf of customers and shares held for trading purposes, corresponding to 5.40% of the share capital.

    Attached to this corporate announcement, aggregated details on the transactions related to the share repurchase programme are shown by venue.
                                                             
    Yours faithfully,
    Jyske Bank

    Contact: Birger Krøgh Nielsen, CFO, tel. +45 89 89 64 44.

    Attachment

    • Share repurchase programme 20250414

    The MIL Network –

    April 14, 2025

  • MIL-OSI China: Announcement on Open Market Operations No.70 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.70 [2025]

    (Open Market Operations Office, April 14, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB43 billion through quantity bidding at a fixed interest rate on April 14, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.50%

    RMB43 billion

    RMB43 billion

    Date of last update Nov. 29 2018

    2025年04月14日

    MIL OSI China News –

    April 14, 2025

  • MIL-OSI: Board of Director Updates

    Source: GlobeNewswire (MIL-OSI)

    Diversified Energy Company PLC
    (“Diversified” or the “Company”)

    Board of Director Updates

    Diversified Energy Company PLC (LSE: DEC) (NYSE: DEC) is pleased to announce that its Board of Directors (the “Board”) has appointed Randall Wade as an independent non-executive director, effective 11 April 2025.

    Mr. Wade is a Co-Founder of EIG and a member of its Investment and Executive Committees. He has broad involvement in the firm’s various activities including investments, investor relations, operations and strategic initiatives. Since joining EIG in 1996, Mr. Wade has filled various roles including President, Chief Operating Officer, head of the direct lending strategy, investment principal with coverage responsibility for Australia and an analyst for the oil and gas team.

    Prior to joining EIG, Mr. Wade was a Commercial Lending Officer for First Interstate Bank of Texas, where he was responsible for developing a middle-market loan portfolio. Mr. Wade received his B.A. in Economics and his B.B.A. in Finance from the University of Texas at Austin.

    Upon his appointment, Mr. Wade will become a member of the Board’s Sustainability and Safety Committee.

    Commenting on the appointment, David Johnson, Chairman, said:

    “It is my pleasure to welcome Randall to Diversified’s Board of Directors. His breadth of experience, leadership, and reputation in the energy industry will provide valuable perspectives. We look forward continuing our valued partnership with EIG and to Randall’s contributions as Diversified continues to progress its strategy of responsibly delivering sustainable stakeholder returns.”

    Mr. Wade previously served as a director for NGL Energy Partners (NYSE: NGL) and has held no other public company directorate positions in the last five years.

    The Company is making this announcement pursuant to UK Listing Rule 6.4.6R with no further disclosure necessary under Listing Rule 6.4.8R.

    For further information, please contact:

    Diversified Energy Company PLC +1 973 856 2757
    Doug Kris dkris@dgoc.com
    Senior Vice President, Investor Relations & Corporate Communications www.div.energy
       
    FTI Consulting dec@fticonsulting.com
    U.S. & UK Financial Public Relations  

    About Diversified Energy Company PLC

    Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

    The MIL Network –

    April 14, 2025

  • MIL-OSI: Employee Stock Options Execution

    Source: GlobeNewswire (MIL-OSI)

    On April 11, 2025, employee stock options granted based on the 2021 performance results were executed. As part of this execution, 1,745,114 Bank shares were transferred to thirty-five employees of the Bank Group.

    The transferred shares are subject to a lock-up period – a one-year transfer restriction period calculated from the date of share settlement – during which the employee is not allowed to transfer, pledge, encumber, or otherwise dispose of the granted shares.

     

    Additional information:

    Tomas Varenbergas

    Head of Investment Management Division

    tomas.varenbergas@sb.lt, +370 610 44447

    The MIL Network –

    April 14, 2025

  • MIL-OSI Banking: Secretary-General meets with Secretary-General of ASEAN-Japan Centre

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this afternoon met with Dr. HIRABAYASHI Kunihiko, Secretary-General of the ASEAN-Japan Centre, over a working lunch in Osaka.

    During the meeting, Dr. Kao conveyed his appreciation for the ASEAN-Japan Centre’s commitment to bolstering trade, investment, tourism, and people connectivity between Japan and ASEAN, and more recently, in promoting ASEAN’s participation in the World Expo 2025. He also congratulated the AJC on its upcoming 44th anniversary in May, and looked forward to greater synergy with the ASEAN Secretariat.

    The post Secretary-General meets with Secretary-General of ASEAN-Japan Centre appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

    April 14, 2025

  • MIL-OSI: BNP Paribas SA: ACQUISITION BY BNP PARIBAS CARDIF OF AXA INVESTMENT MANAGERS – UPDATE

    Source: GlobeNewswire (MIL-OSI)

    ACQUISITION BY BNP PARIBAS CARDIF 
    OF AXA INVESTMENT MANAGERS – UPDATE

    PRESS RELEASE

    Paris, 14 April 2025

    After entering into exclusive negotiations on 1 August 2024, AXA and BNP Paribas Cardif signed a Share Purchase Agreement for AXA Investment Managers (AXA IM). The closing is expected in early July 2025.

    In this context, the BNP Paribas Group fully confirms the strategic and industrial interest of the transaction to build a leading platform in asset management that will allow the Group to become the forefront European player in the management of long-term savings assets for insurers and pension funds. This platform will benefit from AXA IM’s leading market position and its team’s expertise specialised in private assets, which will drive further growth with both institutional and retail investors.

    This acquisition aligns perfectly with the Group’s core mission of supporting the economy by mobilising savings to finance future-oriented projects, in the best interests of its clients.

    The ECB has recently expressed its opinion on the prudential treatment for the acquisition of asset managements companies.

    Should this interpretation be implemented and given the current status of the internal analyses carried out by the BNP Paribas Group, the anticipated impact on BNP Paribas Group’s CET1 ratio would stand at approximately -35 bps and the expected return on invested capital of the transaction would be above 14% in the third year and more than 20% in the fourth year. This impact is to be compared with an impact on the Group’s CET 1 ratio of -25 bps and an expected return on invested capital of 18% in the third year, presented at the launch of the transaction.

    As a consequence, under this interpretation, neither the Group’s overall profitability objectives, growth trajectory, nor its equity and CET1 trajectory would be modified.

    Specifically, the launch of the share buyback programme, announced in February 2025, to which the ECB has already given its approval, is maintained. More generally, the Group’s distribution policy in the form of dividends and return to shareholders remains unchanged.

    The conditions agreed to by the Group regarding the prudential treatment to be applied to this transaction will be communicated at the closing of the transaction, following the finalization of ongoing discussions with the relevant supervisory authorities on this topic.

    About BNP Paribas
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    Press Contacts:
    Sandrine Romano : sandrine.romano@bnpparibas.com ; + 33 6 71 18 13 05
    Giorgia Rowe : giorgia.rowe@bnpparibas.com ; + 33 6 64 27 57 96

    Attachment

    • CP EN_14.04.25_FV

    The MIL Network –

    April 14, 2025

  • MIL-OSI: Ageas reaches agreement with Bain Capital to acquire esure and establish a top-3 UK personal lines platform

    Source: GlobeNewswire (MIL-OSI)

    Ageas reaches agreement with Bain Capital to acquire esure and establish a top-3 UK personal lines platform

    Ageas and Bain Capital agree GBP 1.295 billion (EUR 1.510 billion) cash transaction for esure
    Combination creates multi-channel motor and home insurer with broad customer appeal across the UK

    Ageas announces today that it has reached an agreement with Bain Capital to acquire esure 1, a leading digital personal lines insurer with strong positioning on price comparison websites (PCW) in the UK. The proposed transaction is fully aligned with Ageas’s strategic priorities for M&A in Europe under Elevate27. It increases Ageas’s European markets presence through the acquisition of a controlled entity, reinforces its positioning in the UK, generates shareholder value from the realisation of synergies and enhances the cash generation of the Group.

    The combination of Ageas UK and esure will create the third largest UK personal lines platform with a balanced and diversified distribution spanning Direct, PCW, brokers and partnerships. The acquisition of esure will enable Ageas UK to accelerate the diversification of its distribution strategy into the important PCW channel in the UK market. Its underwriting footprint will widen Ageas UK’s target customer demographics and enable growth to a top-line of GBP 3.25 billion (EUR 3.8 billion) by 2028.

    Ageas UK has established itself as an accomplished insurer over the past four years by focusing on profitable growth solely in the personal lines business with a specialism in broker distribution, outstanding technical insurance skills and technology, and successfully delivering insurance solutions for its distribution partners and over 4 million customers.

    esure is a leading UK personal lines insurer with a fully digital distribution model through the PCW channel and three popular brands – esure, Sheilas’ Wheels and First Alternative. In 2024, esure had more than 2.1 million policies and GWP of GBP1 billion (EUR 1.2 billion).

    The acquisition of esure creates significant potential for operational synergies and capital benefits to be realised in the medium term. We expect economies of scale in our UK personal lines portfolio and the accelerated implementation of the EIS IT platform, including esure’s complementary claims module, to drive operational efficiencies and cost avoidance for Ageas UK. Continued focus on technology, data and AI is expected to create further competitive advantages. In addition, capital benefits from enhanced diversification and the inclusion of esure in Ageas’s partial internal model are expected to emerge over time.

    Under the terms of the transaction, Ageas will pay Bain Capital a cash consideration of GBP 1.295 billion (EUR 1.510 billion) for esure, respecting a Solvency II target ratio of 150% as at year-end 2024. The Group’s capital position will remain robust with Solvency II ratio expected to decrease by approximately only 10pp thanks to the inclusion of around EUR 1 billion of Own Funds instruments in the financing mix.

    The transaction will be financed through a combination of surplus cash and newly issued senior and hybrid debt and/or equity within the existing authorisations and subject to market conditions. A fully underwritten 2-year bridge facility is provided by BofA Securities and Deutsche Bank Luxembourg S.A..

    The integration of Ageas UK and esure is anticipated to be completed, in all material respects, during the Elevate27 strategic cycle. Entering the next strategic period, we project that the transaction will generate a full cost saving potential in excess of GBP 100 million (c. EUR 115 million) per annum, before tax. On a run-rate basis, this transaction is expected to generate an unlevered return on investment of over 12% for Ageas and an uplift in the Return on Equity of more than 1pp. It will become Holding Free Cash Flow accretive per share of c. 10% as from 2028.

    The completion of the transaction is expected to occur in 2H 2025 and remains subject to regulatory approvals.

    Commenting on the agreement, Hans De Cuyper, Ageas Group CEO, said: “We are delighted to have reached an agreement to acquire esure. In recent years, Ageas has experienced significant growth in the UK, making it an increasingly important part of the Group. This transaction will allow us to offer competitive value propositions to a wider customer profile via a multi-channel distribution model, positioning Ageas UK as one of the top three personal lines insurers. Acquiring esure also supports our strategic ambitions of re-balancing our Group profile towards businesses with high cash conversion. We remain, of course, committed to our Elevate27 financial objectives, including our commitment to a progressive dividend policy, and will observe the full synergies of this transaction in the forthcoming strategic period.”

    Ant Middle, Ageas UK CEO, said: “esure is a significant addition to the Ageas UK business and aligns perfectly with our growth strategy. As demand for motor and home insurance grows, Ageas will be perfectly positioned to gain market share and become the insurer of choice for our existing and new customers. The combined Ageas and esure franchise will benefit from an outstanding customer offering, through market leading technology and prominent brands, that will drive our expansion into new customer demographics. Under Elevate27, we want to continue to grow our broker and partnerships personal lines business in the UK, and esure will help us to rapidly expand our direct distribution, our customer reach, and our scale overall. esure’s technical capabilities will match Ageas UK’s and will enable us to develop our well-balanced business at greater pace and serve a wider range of customers. We’re really excited for the potential this brings our UK business and wider Group.”

    David McMillan, esure Group CEO, said: “This transaction brings together two highly complementary businesses and creates an even stronger platform for continued innovation, growth and excellent delivery for our customers. Combining Ageas’s scale, financial strength and excellent broker relationships with esure’s strong retail brands, market-leading data capabilities and strength on PCWs, alongside a shared technology platform, will enhance our combined ability to invest in our customer proposition and open up new opportunities for growth. I am deeply proud of what the esure team has achieved to date. We look forward to working alongside the Ageas team to build the UK’s leading personal lines insurer.”

    Luca Bassi, Partner at Bain Capital, said: “We are pleased to have supported esure through its transformation and growth journey. During our ownership, esure has built the leading tech platform in UK insurance and their highly efficient operations have set a new standard for the industry. This transaction is a testament to esure’s strong market position and the state-of-the-art technology platform built under Bain Capital’s tenure, with the business now at record levels of profitability. We are confident that Ageas is the right partner to continue this legacy of success and innovation.”

    BofA Securities is acting as financial adviser and Allen Overy Shearman Sterling LLP is acting as legal counsel to Ageas in relation to the transaction.

    Fenchurch Advisory Partners LLP and Goldman Sachs International served as financial advisers to Bain Capital and esure. Weil, Gotshal & Manges (London) LLP served as legal adviser and Norton Rose Fulbright LLP served as regulatory adviser to Bain Capital and esure.

    Further information:

    For Ageas

    Michaël Vandenbergen, Ageas, michael.vandenbergen@ageas.com, +3225575736

    Chris Sibbald / James Leviton, FGS Global, ageas-uk@fgsglobal.com, +447855955531

    For Bain Capital

    Sean Palmer, Camarco, baincapital@camarco.co.uk, +447591760844

    For esure group

    esure@teneo.com

    For analysts:

    An analyst meeting regarding this transaction will be held on Monday, April 14, 2025, from 10:00 to 11:00 am CET (9:00 to 10:00 am UKT). The Teams call can be accessed using the following link: https://ageas.com/en/esure-2025

    Note to editors:

    To support its expansion, in 2024 Ageas UK announced a partnership with Saga, growing its offering to the over-50s segment, which is strategically in line with Ageas’s focus on an ageing population.

    Ageas is a listed international insurance Group with a heritage spanning of 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow, and is also engaged in reinsurance activities. As one of Europe’s larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long-term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 50,000 people and reported annual inflows of EUR 18.5 billion in 2024.

    esure Group is one of the UK’s leading providers of Motor and Home insurance products through the esure, Sheilas’ Wheels and First Alternative brands. Founded in 2000, esure Group has the scale, heritage and expertise capable of inspiring the trust and confidence of their 2.1m customers, combined with the entrepreneurial mindset and agility of an insurtech. esure Group is focused on using their market-leading technology platform, insights and data, alongside fantastic customer service, to deliver more personalised experiences that meet the evolving needs and expectations of customers.

    Founded in 1984, Bain Capital is one of the world’s leading private investment firms. The firm has a significant history in Europe, starting with the establishment of a London office in 2000 and expanding to include other European locations, with a focus on private equity, credit and special situations investments. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

    Bank of America Europe DAC (“BofA Securities”) is acting as financial adviser exclusively for Ageas and for no one else in connection with the transaction and will not be responsible to anyone other than Ageas for providing the protections afforded to its clients or for providing advice in relation to the transaction or any other matters referred to in this announcement.

    1 Under the terms of the transaction, Ageas will acquire 100% of the issued and to be issued share capital of Blue (BC) Topco Limited, a holding company for esure Group plc and its subsidiaries.

    Attachment

    • Pdf version of the press release

    The MIL Network –

    April 14, 2025

  • MIL-OSI China: China issues 9.78 trillion yuan in new loans in first 3 months

    Source: China State Council Information Office

    China issued 9.78 trillion yuan (1.36 trillion U.S. dollars) in new yuan-denominated loans in the first three months of 2025, central bank data showed on Sunday.

    At the end of March, outstanding yuan loans amounted to 265.41 trillion yuan, up 7.4 percent year on year, according to the People’s Bank of China.

    In the first quarter, household loans increased by 1.04 trillion yuan. Loans to enterprises increased by 8.66 trillion yuan, of which medium and long-term loans increased by 5.58 trillion yuan.

    The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased by 7 percent year on year to 326.06 trillion yuan at the end of last month.

    The M1, which covers cash in circulation, demand deposits and clients’ reserves of non-banking payment institutions, stood at 113.49 trillion yuan at the end of March, up 1.6 percent year on year.

    In the first three months, China’s yuan-denominated deposits increased by 12.99 trillion yuan, with household deposits accounting for 9.22 trillion yuan of this rise.

    At the end of March, the total social financing stock in China reached 422.96 trillion yuan, marking an 8.4 percent increase from the previous year.

    During the first three months, the newly added social financing amounted to 15.18 trillion yuan, representing a 2.37 trillion yuan increase from the corresponding period of the prior year.

    MIL OSI China News –

    April 14, 2025

  • MIL-OSI Banking: Samsung and the United Nations Development Programme Welcome Five New Young Leaders to Generation17

    Source: Samsung

    Samsung Electronics today announced the addition of five new Young Leaders to Generation17, an initiative in partnership with the United Nations Development Programme (UNDP) that supports young changemakers driving progress to achieve the Sustainable Development Goals (SDGs), also known as the ‘Global Goals.’
     
    Since launching Generation17 in 2020, Samsung and UNDP have supported Young Leaders from across Asia, Africa, Europe, Latin America, the Middle East and North America, addressing critical issues that span all 17 Global Goals. The partnership has provided these Young Leaders with the latest Samsung Galaxy technology, along with networking and mentorship opportunities, to amplify their stories and advance their work. The newest cohort, focused on advancing solutions in marine conservation, environmental sustainability, gender equality and quality education, reflects Samsung’s continued commitment to a more equitable future for all.
     
    “As we accelerate efforts to achieve the Global Goals, we are proud to welcome the next cohort of Young Leaders to Generation17,” said Stephanie Choi, EVP & Head of Marketing, Mobile eXperience Business, Samsung Electronics. “Their passion, creativity and commitment to addressing global challenges embody the spirit of innovation that fuels meaningful change. We look forward to seeing how these five new Young Leaders will leverage technology for good to inspire action, mobilize communities and create lasting impact for a more sustainable and equitable world.”
     
     
    Five Global Changemakers
    The newest Generation17 Young Leaders were selected from hundreds of applicants and bring new areas of expertise to the initiative, expanding the reach of Generation17. As members of the Generation17 community, they will leverage technology and global platforms to advocate for the issues that matter most to them.
     

     
    Brigitta Gunawan (Indonesia) — An ocean-climate advocate who has engaged with over 15,000 people in 100+ locations with environmental education and marine conservation opportunities through her organizations 30×30 Indonesia and Diverseas.
     
    “At 17, it struck me that we were nothing but a small speck in a big world that remains largely unexplored — that if we continued as bystanders, we would see this fragile ecosystem cripple within our lifetime — so there I was, ready to co-create a future where people and planet prosper.”
     
    José Francisco Ochoa (Ecuador) — A biologist and co-founder of Academia del Océano, an edtech platform promoting marine conservation, digital tools and sustainability in Spanish-speaking communities, equipping thousands with the tools to protect marine ecosystems.
     
    “The ocean sustains life, yet many don’t realize how deeply connected we are to it. We must embrace innovation, education and collective action to protect our blue planet before it’s too late.”
     
    Renata Koch Alvarenga (Brazil) — Founder and Executive Director of EmpoderaClima, a youth-led organization advocating for climate justice by addressing the disproportionate impact of climate change on women and promoting girls’ climate action.
     
    “Climate disasters are exacerbating gender inequality, but through the Global Goals, we can raise awareness of the need for women’s leadership in climate decision-making and ensure no one is left behind.”
     
    Rahaf Abu Mayyaleh (Jordan) — A climate activist, sustainable technology advocate and founder of IBTKRGO, which develops eco-friendly educational kits using recyclable materials, including e-waste, to empower youth with digital skills.
     
    “Green technology is key to a sustainable future, and young innovators have the power to lead this transformation. Through IBTKRGO, I strive to bridge the gap between technology and sustainability, ensuring solutions that serve both people and the planet.”
     
    Soumya Dabriwal (India) — Co-founder of Project Baala, a social enterprise addressing menstrual hygiene and reproductive health access through innovative solutions, including the sustainable distribution of reusable sanitary products and educational initiatives to de-stigmatize women’s health while generating employment for women.
     
    “Access to Sexual and Reproductive Health and Rights (SRHR) is a fundamental human right. Through collective advocacy and innovation, we can break barriers, challenge stigmas and build a world where everyone has the freedom and resources to make informed choices about their own bodies and futures.”
     
     
    Elevating Youth Voices for Global Action
    Since the launch of Generation17 in 2020, Samsung and UNDP have partnered to empower Young Leaders — helping them amplify their stories and accelerate their efforts to drive meaningful change in communities across the world. Additionally, the initiative provides opportunities for Young Leaders to showcase their impact on a global scale.
     
    In the coming months, these Young Leaders will attend various major global events, where they will engage with policymakers, innovators and fellow changemakers. Through these platforms, they will contribute to international conversations on sustainable development and drive tangible progress toward the Global Goals, ensuring that youth voices play a crucial role in shaping a more sustainable future.
     
    This year, Generation17 alum Tamara Gondo took the stage at Samsung’s Galaxy Tech Forum, highlighting the company’s commitment to sustainability and the power of collaboration with like-minded partners to tackle worldwide challenges. She also shared how the initiative has helped scale her organization’s impact since she joined in 2022.
     
    “Young people are the future of global development, and with fewer than five years left to achieve the Global Goals, the time to act is now,” said Achim Steiner, Administrator of UNDP. “Through our long-standing partnership with Samsung, we are empowering youth to advance solutions that address climate and human rights challenges and to inspire a new generation to join the fight for a more sustainable and just future.”
     
    Generation17 reflects the shared commitment of Samsung and UNDP to harness technology for positive impact. Their collaboration began in 2019 with the launch of the Samsung Global Goals App — a mobile platform that educates users about the Goals while enabling them to contribute through everyday use of their Galaxy devices. As detailed in Samsung’s Global Goals Report, as of September 2024, the app has been installed on nearly 300 million Samsung Galaxy devices worldwide — including smartphones, tablets and smartwatches — and has helped generate more than $20 million USD to support UNDP’s global environmental and social initiatives.
     
     
    About UNDP
    UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality and climate change. Working with a broad network of experts and partners in 170 countries, UNDP helps nations to build integrated, lasting solutions for people and planet. Learn more at www.undp.org.
     
    About Generation17
    Generation17 is an initiative from Samsung and the United Nations Development Programme (UNDP) that elevates the voices of Young Leaders who are changing the world and contributing to the achievement of the Sustainable Development Goals (SDGs) or ‘Global Goals.’ Samsung and UNDP are providing mentorship, technology and networking opportunities for the Young Leaders as they advance their work. Learn more at www.undp.org/generation17.

    MIL OSI Global Banks –

    April 14, 2025

  • MIL-OSI New Zealand: Economy – ASB research: Kiwi Gen Zs are under pressure, but 43% are taking steps to improve their financial position

    Source: ASB

    New ASB research shows that despite tough economic circumstances, 43% of Kiwi aged 18-24 are building better money habits and taking action to improve their financial wellbeing.

    Young Kiwi are facing a financial double whammy, as high youth unemployment adds to cost of living pressures. More than 80% of the net jobs lost in 2024 were for workers aged 30 and under, and ASB economists expect unemployment for jobseekers aged 15-19 to remain around 20% until the end of 2025, compared with around 5% overall.

    To understand how these challenges are impacting young people, ASB has analysed the spending and saving patterns of more than 650,000 customers, including 57,000 aged 18-24.

    ASB found customers aged 18-24 were 26% more likely to experience payment problems than the national average. A lack of savings is causing strain: 56% of young people don’t have at least $1000 of savings, compared with 44% of Kiwi overall.

    60% of customers aged 18-24 rarely have enough money to cover their monthly bills, and 44% live paycheck to paycheck.

    ASB General Manager Business Transformation and Customer Engagement Rosalyn Clarke leads the bank’s financial wellbeing programme, and says while the past few years have been hard for many Kiwi, rangatahi face distinct challenges.

    “This generation started working and managing their money through lockdowns, rising inflation and a recession. It’s tough – but we know young people want to get ahead, and with a lifetime in front of them, small changes now can make a big financial difference.

    “Our data shows one-fifth of our 18-24 customers are regular savers, which is encouraging, as good savings habits can significantly lift financial wellbeing. 80% of this age group contributed to their KiwiSaver in the past year, and they’re 18% more likely to invest enough to earn the $521 annual Government KiwiSaver contribution.

    “43% of our 18-24 customers took steps to build better spending, savings, or credit habits in the past year. By making changes such as reducing their overdraft, setting up regular savings, or getting KiwiSaver advice, we can see their financial wellbeing improves compared to those in their age group who don’t.”

    ASB is currently sharing money tips with young people through its Level Up campaign, which supports 18-24s to build money confidence. Now in its third year, Level Up spotlights money tools such as ASB’s Goal Planner, which tracks progress toward a saving target, and Save the Change, which automatically rounds up spending and puts the difference into savings.

    ASB’s Community Bankers and its dedicated school team also support rangatahi across the country gain money management skills through free face-to-face workshops for school leavers, community groups, and young jobseekers.

    Research by ASB’s partner, youth mental health charity Youthline, found money is one of the top stresses for Kiwi aged 21-24[1] and ASB wants to help to tackle this, says Rosalyn.

    “If young people are worried about money, or need support to get on top their finances, ASB offers free help – and you don’t need to be a customer. Check out our online tools, or book a financial wellbeing review and we’ll help you take steps toward your goals.”

    Notes:

    • Financial wellbeing information is based on anonymised analysis of more than 650,000 New Zealand adults that have their main bank relationship with ASB and includes high volumes of customers across all New Zealand regions and demographics. 
    • KiwiSaver information refers to anonymised analysis of ASB KiwiSaver Scheme Funds.  
    • All financial wellbeing data reflects the 12 months to 31 January 2025.

    MIL OSI New Zealand News –

    April 14, 2025

  • MIL-OSI Australia: Allens advises ACEN Australia on major renewable energy portfolio financing

    Source: Allens Insights (legal sector)

    Allens has advised ACEN Australia, a key player in the Australian energy transition, on the $750 million platform financing for its renewable energy portfolio. The two seed assets are the 400MW New England Stage 1 Solar and 400MW Stubbo Solar projects.

    The financing establishes a platform to support the continued development of ACEN Australia’s pipeline of renewable energy assets across the country, including approximately 8 GW of solar, wind, battery energy storage systems and pumped hydro projects.

    With Macquarie Capital as financial adviser, the financing included a syndicate of 11 Banks comprising ANZ, Cathay United Bank, Commonwealth Bank, CTBC Bank, DBS Bank, Deutsche Bank, HSBC, MUFG, SMBC, UOB, and Westpac,

    A cross-disciplinary team, comprising lawyers across Banking & Finance, Projects, Corporate and Real Estate, Environment and Planning, advised on all aspects of the financing and due diligence.

    ‘We are proud to have advised on this significant milestone transaction for ACEN Australia, which will help facilitate the development of new renewable energy projects across Australia.’ said lead Partner Scott McCoy.

    ‘This portfolio financing platform is a prime example of the innovative funding structures being developed to support the sector’s growth, offering greater flexibility in managing individual projects, future growth and risk mitigation.’

    This transaction builds on Allens extensive expertise in renewable energy  portfolio financings having advised on recent transactions for clients including Neoen, Fotowatio Renewable Ventures, Global Power Generation Australia , CWP Renewables and Atmos Renewables.

    Allens legal team

    Finance, Banking & Debt Capital

    Scott McCoy (lead Partner), Jamie Guthrie (Managing Associate), Flynn O’Byrne-Inglis (Senior Associate), Maya Bahra (Lawyer), Nick Walker (Lawyer)

    Projects

    Andrew Mansour (Partner), Kip Fitzsimon (Partner), Amy Ryan (Senior Associate), Sara Pacey (Associate), Jeanne Shu (Lawyer), Amelia Rebellato (Lawyer), Esther Khor (Lawyer), Emma Cottle (Lawyer), Saleem Al Odeh (Laywer)

    Real Estate, Environment & Planning

    Michael Graves (Partner), Naomi Bergman (Partner), Nathaniel Jende (Associate), Samuel Mursa (Associate), Ankita Rao (Lawyer), Alexander Murphy (Lawyer)

    M&A and Capital Markets

    Harry Beardall (Managing Associate), Matthias Laubi (Lawyer)

    Contact for further information

    Senior Communications & Corporate Affairs Manager

    MIL OSI News –

    April 14, 2025
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