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Category: Banking

  • MIL-OSI Banking: Government not to set euro adoption date for now

    Source: Czech National Bank

    The government has acknowledged the joint recommendation of the Ministry of Finance and the Czech National Bank not to set a date for adopting the single European currency for the time being. The recommendation is based on the findings contained in Assessment of the Fulfilment of the Maastricht Convergence Criteria and the Degree of Economic Alignment of the Czech Republic with the Euro Area. This document has provided an objective assessment of the Czech Republic’s economic preparedness for adopting the euro since the country joined the European Union.

    The assessment covers three areas. The first assesses compliance with the nominal (Maastricht) convergence criteria, which are a necessary but not sufficient condition for joining the euro area. These criteria set fiscal and monetary reference values, compliance with which is meant to reduce the risks and costs associated with the absence of an independent monetary policy. Successful compliance with the relevant criteria should also mitigate risks to stability and prevent the emergence of imbalances in the monetary union. In 2024, the Czech Republic fulfilled the interest rate convergence criterion and the government financial position criterion. However, it did not meet the criterion on price stability, due to a low reference value and persisting elevated growth of service prices in the domestic economy. The Czech Republic is formally non-compliant with the exchange rate fluctuation criterion, as it is not part of the ERM II exchange rate mechanism.

    The second area assesses the Czech Republic’s economic preparedness for adopting the euro. A key element of these indicators is an assessment of the Czech Republic’s economic alignment with the euro area and the ability of the Czech economy to absorb any negative economic shocks through other mechanisms after losing its monetary policy independence. The Czech Republic has made no substantial progress in this area since the last assessment in 2023. There are still many obstacles on the path to the single European currency. One of them is the unfinished process of economic convergence of the Czech economy, especially as regards the price and wage levels, which remain well below the euro area average. The relatively low structural similarity between the Czech economy and the euro area could also create problems under the single monetary policy. Unresolved domestic structural issues related to the current economic model and future challenges to public finances (population ageing, infrastructure investment, etc.) pose a significant risk. Planned large-scale projects (the construction of high-speed railways and new nuclear units) will place a significant financial burden on public budgets. Addressing the current challenges of economic transformation and long-term public finance sustainability should therefore be prioritised before making a decision on joining the monetary union.

    On the other hand, the high degree of openness of the Czech economy and its close trade and ownership links with the euro area are key positive factors. Some labour market indicators, especially the low long-term unemployment rate and the banking sector’s resilience to negative shocks, are also favourable.

    The final area of assessment concerns the euro area itself. The economic heterogeneity of the euro area is high. This was further highlighted by the energy crisis and its impacts on Member States’ economies. Economic alignment of euro area countries is essential to the smooth functioning of the monetary union. The fiscal positions of most euro area countries are also a negative factor.

    The institutions and rules of the euro area have changed over recent years, and discussions on further deepening integration are still ongoing. The future potential financial and non-financial commitments relating to the Czech Republic’s euro area entry thus cannot be reliably estimated at the moment.

    Petra Vlčková
    Spokesperson
    CNB Communications Division

    Petra Vodstrčilová
    Spokesperson
    Ministry of Finance of the Czech Republic


    MIL OSI Global Banks –

    April 10, 2025
  • MIL-OSI USA: Hartford Mayor Arunan Arulampalam to Speak at UConn Law 2025 Commencement

    Source: US State of Connecticut

    Arunan Arulampalam, mayor of the City of Hartford, will deliver the commencement address as the UConn School of Law celebrates the Class of 2025 on Sunday, May 18.

    “It is an honor to have Mayor Arulampalam, a leader who has tirelessly worked to revitalize Hartford, as our commencement speaker,” Dean Eboni S. Nelson says. “Many of this year’s graduates have provided legal services to underserved individuals in Hartford through our clinics and pro bono programs, making them key partners in the vital work being done to strengthen our local community. Considering the mayor’s distinguished career of service and advancing justice, his personal and professional journeys will serve as tremendous inspiration for our graduates as they begin their legal careers.”

    The son of Sri Lankan refugees, Arulampalam was born in Zimbabwe and made a home and a family in Hartford after graduate school. Prior to being elected mayor in November 2023, he served as CEO of the Hartford Land Bank, where he developed a first-in-the-nation program to train Hartford residents to become local developers and tackle blight in their city.

    Arulampalam served in Governor Ned Lamont’s administration as Deputy Commissioner of the Connecticut Department of Consumer Protection. Before that, he was a lawyer at the downtown firm Updike, Kelly & Spellacy, P.C. Arulampalam also served on the Board of the Hartford Public Library, the House of Bread, and on the Hartford Redevelopment Authority. He earned his BA in International Studies from Emory University and his JD from Quinnipiac University School of Law.

    “It is an incredible honor to join the UConn School of Law community and celebrate the Class of 2025,” Arulampalam says.  “These graduates represent the future of justice and advocacy, and their commitment to serving others, particularly through their work in Hartford, inspires hope for a stronger, more equitable society. As they embark on this next chapter, I am confident they will continue to make a profound impact on our city, our state, and beyond.”

    The University of Connecticut School of Law will hold its 102nd commencement on Sunday, May 18, 2025, at 10 a.m. on the law school campus. The Class of 2025 includes nearly 200 graduates receiving JDs, LLMs, and SJD degrees. For more information, please visit our commencement site.

    MIL OSI USA News –

    April 10, 2025
  • MIL-OSI: Community Bankshares Inc. Reports Over $69 Million in Government Guaranteed Lending in Q1 Across 14 States

    Source: GlobeNewswire (MIL-OSI)

    LAGRANGE, Ga., April 09, 2025 (GLOBE NEWSWIRE) — Community Bankshares, Inc., the holding company of Phoenix Lender Services, Thomas Financial Group, and Community Bank & Trust, announced today the successful deployment of over $69 million in Small Business Administration (SBA) and United States Department of Agriculture (USDA) backed loans through the end of Q1 2025. The financing activity spans 14 states, reflecting the company’s growing national presence and commitment to delivering critical capital to underserved and rural communities.

    Together, the loans will help create over 400 new jobs and retain more than 350 while enabling key infrastructure expansion, debt refinancing, and facility upgrades for small to mid-sized businesses.

    The lending activity included 17 SBA loans totaling over $23 million, funded by Community Bank & Trust, with origination, underwriting, and closing assisted by Phoenix Lender Services and Thomas Financial Group through their Lender Service Provider (LSP) relationship. Furthermore, Phoenix Lender Services helped to originate, underwrite, and close another $46.7 million in USDA-backed loans.

    “This is exactly the type of impact we built Phoenix Lender Services to deliver,” said Chris Hurn, President of Community Bankshares and President & CEO of Phoenix Lender Services. “We are proud to empower community banks with the tools and expertise they need to deliver transformative capital into rural, urban, and working-class communities — especially when it strengthens supply chains, creates jobs, and preserves family-run businesses.”

    Phoenix Lender Services serves as the Lender Service Provider (LSP) on SBA, USDA, and commercial loans, overseeing eligibility, origination, underwriting, packaging, closing, compliance, and servicing to ensure a seamless borrower and lender experience.

    “Phoenix Lender Services was instrumental in helping us deploy this capital efficiently and effectively,” said Steve Jefferies, President & CEO of Community Bank & Trust. “They bring unmatched knowledge of SBA and USDA lending, and our partnership allows us to expand our reach and serve more businesses across our communities nationwide.”

    Their growing national presence included financing business owners in Alabama, Alaska, Arizona, California, Florida, Georgia, Kentucky, Michigan, Missouri, North Carolina, New York, Ohio, Tennessee, Texas, South Carolina, and Wisconsin — and spans industries such as food logistics, manufacturing, healthcare, petroleum, distribution and specialty retail.

    “Securing a loan through Community Bank & Trust, with the support of Phoenix Lender Services, made it possible for us to acquire Firm Foundations Framing—marking a pivotal moment in our journey,” said Ed Black, President of Firm Foundations Framing. “As a construction company building between 750 and 1,000 homes annually across Georgia, this acquisition enables us to retain and grow a business that directly impacts hundreds of lives. More importantly, it fulfills a lifelong dream of business ownership and lays the groundwork for continued growth and opportunity within our communities.”

    “This isn’t our first time working with Thomas Financial Group—and for good reason. We wouldn’t be where we are today without their support,” said Kevin Durling, President of Petroleum Equipment & Services, Inc. “The company’s expertise and understanding of the USDA process are unmatched.”

    About Community Bankshares, Inc. (CBI)
    Community Bankshares, Inc., is a dynamic bank holding company revolutionizing the financial landscape through its support for America’s small and mid-sized businesses. As a mission-focused company, CBI is redefining how lending capital is provided across the nation and its territories in ways that promote business stability and encourage local area prosperity. In doing so, CBI fosters economic growth, job creation and retention, and community strength.

    About Phoenix Lender Services (PHX)
    Based in Georgia and serving clients nationwide, Phoenix Lender Services offers a comprehensive suite of commercial lending solutions, including loan originating, underwriting, closing, and servicing; participant lender matching (USDA); secondary market sales; portfolio management; risk analysis; and compliance reviews and regulatory support. PHX’s seasoned professionals combine extensive industry expertise in SBA and USDA government-guaranteed lending (over 700 combined years) with industry-leading technologies to deliver tailored solutions that align with each client’s unique strategic goals. PHX is a wholly owned subsidiary of CBI.

    About Thomas Financial Group (TFG) 
    Thomas Financial Group, located in Atlanta, Georgia, is a nationally recognized leader in providing innovative and comprehensive commercial lending solutions tailored to meet the unique needs of rural and underserved communities across America. With over 40 years of experience in originating and packaging loans within the USDA and SBA government-guaranteed lending space, TFG’s highly capable team helps clients successfully navigate even the most complex financing scenarios to meet the needs of our nation’s businesses. TFG is a wholly owned subsidiary of CBI.

    About Community Bank & Trust (CB&T)
    Community Bank & Trust, a subsidiary of Community Bankshares Inc., is a trusted financial institution dedicated to serving individuals, families, and businesses across its service area and nationwide. Headquartered in LaGrange, GA, CB&T is committed to leveraging its rural roots to empower local consumers and commercial entities, as well as underserved groups and communities, with a broad slate of accessible, personalized banking solutions while also reaching a diverse and growing nationwide audience.

    MEDIA CONTACT

    Hannah Williams
    Uproar PR by Moburst for Community Bank Shares, Inc.
    hannah.williams@moburst.com

    The MIL Network –

    April 10, 2025
  • MIL-OSI: Live Oak Bancshares, Inc. Announces Date of First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, N.C., April 09, 2025 (GLOBE NEWSWIRE) — Live Oak Bancshares, Inc. (NYSE: LOB) today announced that it will report its first quarter 2025 financial results after U.S. financial markets close on Wednesday, April 23, 2025.

    In conjunction with this announcement, Live Oak will host a conference call to discuss the company’s financial results and business outlook on Thursday, April 24, 2025, at 9:00 a.m. ET.

    The call will be accessible by telephone and webcast using Conference ID: 75855. A supplementary slide presentation will be posted to the website prior to the event, and a replay will be available for 12 months following the event.

    The conference call details are as follows:

    Live Telephone Dial-In
    U.S.: 800.549.8228
    International: +1 646.564.2877
    Pass Code: None Required

    Live Webcast Log-In
    Webcast Link: investor.liveoakbank.com
    Registration: Name and Email Required
    Multi-Factor Code: Provided After Registration

    About Live Oak Bancshares
    Live Oak Bancshares, Inc. (NYSE: LOB) is a financial holding company and parent company of Live Oak Bank. Live Oak Bancshares and its subsidiaries partner with businesses that share a groundbreaking focus on service and technology to redefine banking. To learn more, visit liveoakbank.com. 

    Contacts:
    Walter J. Phifer | CFO
    910.202.6929

    Claire Parker | Investor Relations
    910.597.1592

    The MIL Network –

    April 10, 2025
  • MIL-OSI: Flourish Announces Relationship with Carson Group

    Source: GlobeNewswire (MIL-OSI)

    New York, April 09, 2025 (GLOBE NEWSWIRE) — Flourish, a platform that helps registered investment advisors (RIAs) grow by evolving from holistic advice to holistic implementation, today announced a new relationship with Carson Group Partners (“Carson”), a financial advisory network of more than 150 RIA offices and approximately $42B in assets under management. The partnership will bring Flourish Cash, Flourish’s flagship cash management offering, to all Carson advisors.

    Carson manages approximately $42 billion in assets and counts more than 52,000 client families in its advisory network. This new relationship reinforces the importance of cash being a part of the client-advisor strategic conversation. 

    “Industry research and our own Flourish data confirm that high and ultra-high net worth investors hold about 20% of their net worth in cash. These funds are typically sitting in checking and savings accounts earning next to nothing and often well over the FDIC limits, unprotected from potential bank failures,” said Flourish CEO Max Lane. “While held-away savings are discussed as part of holistic planning, without a specific advisor-centric solution there’s often no follow-through on optimizing reserve cash. This partnership gives Carson advisors an integrated, secure, higher yielding cash option to optimize clients’ held-away cash while also uncovering new assets to drive organic growth.

    “Carson is committed to equipping our advisors with innovative financial tools that elevate client results and solve real world needs. Flourish serves to help advisors execute on financial plans, unlocking growth and adding protection,” said Dani Fava, Chief Strategy Officer at the Carson Group. “This partnership strengthens advisor capabilities while seamlessly integrating into existing workflows. The greater visibility into clients’ cash savings offers advisors a route to growth.”

    Flourish’s products are built exclusively for RIAs and help financial advisors bring held-away assets into their orbit. Flourish also offers Flourish Annuities, an end-to-end digital annuities solution that makes it easy for RIAs to include annuities in client portfolios.

    Over 900 RIAs managing over $1.6 trillion in combined assets trust Flourish to help them fully execute financial plans and bring more assets into their orbit. As a platform that helps RIAs grow by evolving from holistic advice to holistic implementation, Flourish also allows advisors to feature their firm’s branding as well as providing client-friendly marketing materials, premium support, and more.

    ABOUT FLOURISH
    Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform supports more than $7 billion in assets under custody and is used by more than 900 wealth management firms representing more than $1.6 trillion in assets under management. Flourish is wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com. 

    ABOUT CARSON GROUP
    Headquartered in Omaha, Nebraska, Carson Group serves financial advisors and investors through its three businesses — Carson Wealth, Carson Coaching and Carson Partners. Carson Group has created an ecosystem dedicated to helping financial advisors unleash the full potential of their firms by providing marketing, compliance, technology, investment strategies, succession planning, M&A support, and coaching. The company currently manages approximately $42 billion* in AUM and serves more than 52,000 families among its advisor network of 150+ partner offices, including 50+ Carson Wealth locations. For more information, visit www.carsongroup.com.

    *Combined AUM of CWM, LLC and NWCM.

    Forward Looking Statements

    This press release may contain forward looking statements that are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied.


    This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success. 

    Flourish is an online platform through which investors can access financial services and products. Flourish’s offerings are provided by different entities and are subject to different terms, investor protections, and risks. Flourish Cash is offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA’s BrokerCheck. Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC and to Flourish Insurance Agency LLC, and, where applicable, Flourish Financial LLC. Flourish Insurance Agency operates in its capacity as a licensed insurance producer with offices in Jersey City, New Jersey, and does business in California under the name Flourish Digital Insurance Agency, providing insurance services related to such platform. Variable annuities, defined in this context to include Registered Index-Linked Annuities (“RILAs”), are offered through Flourish Financial LLC. Annuities shown on the platform are sold through Flourish Annuities, and are issued by one or more licensed insurance companies. The Flourish entities mentioned above are affiliates. Flourish Cash and Flourish Annuities accounts are separate accounts and only assets in Flourish Cash accounts may be eligible for protection by the FDIC or SIPC. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product for further information. If you were introduced or invited to Flourish by an investment advisor or other third party, please be aware that, unless otherwise disclosed to you, they are not affiliated with any Flourish entity. The role of the investment advisor or other firm that invited you to Flourish may vary between different Flourish services and products, as further described in your terms of service. © 2025 Flourish. All rights reserved.

    A Flourish Cash account is a brokerage account offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA’s BrokerCheck. The cash balance in a Flourish Cash account will be swept from the brokerage account to deposit account(s) at one or more third-party Program Banks that have agreed to accept deposits from customers of Flourish Financial LLC. The accounts at Program Banks will pay a variable rate of interest. The cash balance in a Flourish Cash account that is swept to one or more Program Banks is eligible for FDIC insurance, subject to FDIC rules, including FDIC aggregate insurance coverage limits. FDIC insurance will not be provided until the funds arrive at the Program Bank. Flourish Cash’s current Program Banks can be found here. For additional information regarding FDIC coverage, visit https://fdic.gov/ and https://www.flourish.com/advisors.

    The MIL Network –

    April 10, 2025
  • MIL-OSI: Spine Wave Announces the Commercial Launch of Tempest® DCF Demineralized Cortical Fibers

    Source: GlobeNewswire (MIL-OSI)

    SHELTON, Conn., April 09, 2025 (GLOBE NEWSWIRE) — Spine Wave is pleased to announce the successful completion of its limited market release of Tempest® DCF Demineralized Cortical Fibers and its entry into the cortical fiber segment of the spinal allograft market. This appealing new allograft broadens Spine Wave’s position in the large and growing spinal biologics market and well complements its established biologics and graft delivery portfolio. Tempest® DCF Demineralized Cortical Fibers is now fully launched and available from Spine Wave, effective immediately.

    Tempest® DCF Demineralized Cortical Fibers is composed entirely of human allograft cortical bone with osteoconductive and osteoinductive potential. Because no carrier materials are included, surgeons are confident that they are getting the absolute most from each graft. The proprietary processing technology used to formulate Tempest® DCF Demineralized Cortical Fibers maintains tissue integrity and maximizes allograft surface area for cellular proliferation and fiber adhesion. Tempest® DCF Demineralized Cortical Fibers has ideal handling characteristics for fluid retention and expansion and is moldable and pliable to fit into any space. Tempest® DCF Demineralized Cortical Fibers rehydrate quickly with bone marrow aspirate, platelet rich plasma, antibiotics, whole blood, or saline and it resists irrigation after implantation.

    Spine Wave’s GraftMag® Graft Delivery System, which is designed to safely and rapidly deliver large amounts of bone graft, can be used together with Tempest® DCF Demineralized Cortical Fibers.   The GraftMag® Graft Delivery System can transform the tedious and sometimes frustrating graft delivery process into a more efficient part of spine fusion surgery. And using GraftMag® Graft Delivery System may reduce injury risk because it reduces instrument passes by sensitive patient anatomy.  

    The patented GraftMag® Graft Delivery System is comprised of two single use graft magazines that are loaded with bone graft on the back table. The magazines couple with the system’s specially designed funnels to rapidly deliver large amounts of graft into the graft site. This appealing grafting approach can reduce frustrating funnel jams and requires only one instrument pass into the graft site to complete the grafting procedure. The GraftMag® Graft Delivery System can be used in virtually any thoracolumbar spine fusion procedure and with any interbody device. However, it integrates particularly well with Spine Wave’s exciting line of titanium expandable interbody fusion products; the recently launched Exceed® Biplanar Expandable Interbody Device and the well-established Leva® Interbody Device, each of which uniquely accommodates large amounts of bone graft.

    “Tempest® DCF Demineralized Cortical Fibers are my allograft choice for spine fusion surgery,” said Stuart D. Kinsella, MD, MSTR. “My procedures often require large amounts of allograft. I appreciate that Tempest® DCF Demineralized Cortical Fibers maximizes the amount of actual bone in each implanted graft because it is one hundred percent human cortical bone tissue. Also, Tempest® DCF Demineralized Cortical Fibers is versatile because it has great handling and is compatible with GraftMag® Graft Delivery System, which allows delivery of a lot of bone graft safely, quickly and easily.”  Dr. Kinsella is a practicing orthopaedic surgeon at the Steadman Clinic and the Steadman Philippon Research Institute in Aspen, Colorado, USA. 

    “We are very excited to launch Tempest® DCF Demineralized Cortical Fibers as our newest biologic product.  This new allograft performed well in its limited market release and is a great addition to our established line of biologics and graft delivery products,” said Laine Mashburn, Spine Wave’s Executive Vice President for Global Marketing and Business Development.  He continued, “Spine Wave partnered with the respected LifeLink® Tissue Bank to bring Tempest® DCF Demineralized Cortical Fibers to market and our sales team has hit the ground running.  We are making the most of this new opportunity, right now.”

    About Spine Wave
    Spine Wave is a leader in minimally invasive spine surgery and expandable interbody devices. The company is committed to offering differentiated product and procedure solutions for spine surgeons and their patients. Spine Wave offers a broad portfolio of advanced spine implant and biologic products. The company is always looking to expand and continues to recruit sales managers and independent distributors to fuel growth. For more information on Spine Wave and its products please visit www.spinewave.com.

    Contact
    Laine Mashburn, Executive Vice President, Global Marketing and Business Development
    lmashburn@spinewave.com
    (203) 712-1863

    The MIL Network –

    April 10, 2025
  • MIL-OSI: Prospect Capital Corporation Announces Launch of Cash Tender Offer For Any and All of its Outstanding 3.706% Notes due 2026

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) — Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding notes listed below. The Tender Offer will expire at 5:00 p.m., New York City time, on April 17, 2025, or any other date and time to which the Company extends the Tender Offer (such date and time, as it may or may not be extended, the “Expiration Time”). The Tender Offer is made pursuant to an Offer to Purchase dated today and related notice of guaranteed delivery, which set forth the terms and conditions of the Tender Offer.

    Title of Security CUSIP / ISIN Nos. Outstanding Principal Amount Tender Offer Consideration(1)
           
    3.706% Notes due 2026 (the “Notes”) 74348TAU6 / US74348TAU60 $342,947,000 $990.00
           

    (1)   Per $1,000 principal amount of 2026 Notes validly tendered on or prior to the Expiration Time and accepted for purchase by the Company.

    The consideration to be paid for each $1,000 principal amount of Notes that are validly tendered and not validly withdrawn on or prior to the Expiration Time will be as set forth in the table above, plus accrued and unpaid interest on the Notes, if any, from the applicable last interest payment date up to, but not including, the Settlement Date (as defined herein). The Company will purchase any Notes that have been validly tendered at or prior to the Expiration Time and accepted for purchase, subject to all conditions to the Tender Offer having been either satisfied or waived by the Company, promptly following the Expiration Time. Assuming the Tender Offer is not extended, the Company expects that the Tender Offer will settle and payment will be made on April 22, 2025 (the “Settlement Date”).

    As described in the Offer to Purchase, tendered Notes may be validly withdrawn at any time prior to or at, but not after, the Expiration Time, unless the Company amends the Tender Offer, in which case the withdrawal rights may be extended as the Company determines, to the extent required by law. The Tender Offer is not conditioned on any minimum amount of Notes being tendered. If any Notes remain outstanding after the consummation of the Tender Offer, the Company may, to the extent permitted by applicable law or the relevant terms and conditions of the Notes, continue to acquire, from time to time, the Notes, including through open market purchases, privately negotiated transactions, one or more tender offers, redemptions, exchange offers or otherwise, upon such terms and at such prices as the Company may determine, which may be more or less than the price to be paid pursuant to the Tender Offer and could be for cash or other consideration or otherwise on terms more or less favorable than those contemplated in the Tender Offer.

    If certain requirements set forth in the Offer to Purchase are met, the Company has agreed to pay a retail processing fee of $1.00 for each $1,000 principal amount of the Notes that are validly tendered and accepted for purchase pursuant to the Tender Offer to retail brokers that are appropriately designated by their tendering holder clients to receive this fee, provided that such fee will only be paid with respect to tenders by Holders whose aggregate principal amount of Notes validly tendered and accepted for purchase is $100,000 or less.

    The Company has retained RBC Capital Markets, LLC to serve as the Dealer Manager for the Tender Offer. Questions and requests for assistance regarding the Tender Offer should be directed to RBC Capital Markets, LLC at +1 (212) 618-7843 (collect) or +1 (877) 381-2099 (toll free).

    The Company intends to fund the purchase price for the Notes tendered in the Tender Offer with cash on hand and borrowings under the Company’s revolving credit facility.

    The Company has retained D.F. King & Co., Inc. to serve as the Information and Tender Agent for the Notes in the Tender Offer.

    The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase, a copy of which may be obtained from D.F. King & Co., Inc. at (212) 269-5550 (Banks and Brokers) or (800) 967-5068 (toll free), or via psec@dfking.com.

    Copies of the Offer to Purchase and Retail Processing Fee From are also available at the following web address: http://www.dfking.com/psec.

    This announcement is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell, with respect to any securities. The solicitation of offers to buy the Notes is only being made pursuant to the terms of the Offer to Purchase, as it may be amended or supplemented. The Tender Offer is not being made in any state or jurisdiction in which such offer would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. None of the Company, the Dealer Manager, or the Information and Tender Agent are making any recommendation as to whether or not holders should tender their Notes in connection with the Tender Offer.

    About Prospect Capital Corporation

    Prospect Capital Corporation is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

    Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.

    Caution Concerning Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. These forward-looking statements include statements regarding expectations as to the completion of the transaction contemplated by the Tender Offer. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.

    For further information, contact:

    Grier Eliasek, President and Chief Operating Officer
    grier@prospectcap.com
    Telephone (212) 448-0702

    The MIL Network –

    April 10, 2025
  • MIL-OSI Economics: Central Bank of Bahrain grants license to BPay Global

    Source: Central Bank of Bahrain

    Published on 9 April 2025

    Manama, Kingdom of Bahrain – 9 April 2025 – The Central Bank of Bahrain (CBB) has granted BPay Global B.S.C.(c) (BPay Global) a Payment Service Provider (PSP) license to operate in the Kingdom of Bahrain.

    BPay Global is a payment services company in the Binance Group. The PSP license will allow the company to provide fiat services to Binance customers globally, including fiat top ups and withdrawals, custody and other payment services. This will enable Binance customers to open an e-wallet and make fiat top ups on the Binance platform through bank transfers and debit/credit card payments. The license will also allow BPay Global to custody fiat on behalf of customers.

    Commenting on this announcement, Mr. Abdulla Haji, Director of Licensing Directorate at CBB, said “We are pleased to announce the issuance of a license to a new payment service provider in Bahrain. This license represents a positive step in enhancing Bahrain’s digital payments ecosystem, particularly in its support for crypto-related sector as well as fiat payment solutions. The CBB remains committed to enabling a dynamic and progressive payment landscape that aligns with global advancements in financial technology.”

    Mr. Tameem Almoosawi, General Manager of Binance Bahrain and BPay Global, commented: “We are glad to announce the launch of BPay Global and the first Payment Service Provider license received by a Binance company, allowing it to act as a payment service provider and e-wallet provider for users around the world. With this license, BPay Global will provide Binance users with further choice of low-cost fiat on- and off-ramps.”

    Share this

    MIL OSI Economics –

    April 10, 2025
  • MIL-OSI: Form 8.3 – [Niox]

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: Danske Bank A/S
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
     
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree
    NIOX Group plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure
    08 April 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”
    N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: Equity
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 13 151 636,00 3,30    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        

            TOTAL:

    13 151 636,00 3,30    

    All interests and all short positions should be disclosed.
    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(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 Purchase/sale Number of securities Price per unit
    Equity Sale          501 958,00
           
           
    69.088 GBP

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD
    Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Number of reference securities Price per unit
             

    (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)
           

    4.        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 person 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 person 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

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 09 April 2025
    Contact name: Kotryna Cinciuke
    Telephone number*: +37060405825

    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 disclosure requirements on +44 (0)20 7638 0129.

    *If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

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

    The MIL Network –

    April 10, 2025
  • MIL-OSI Africa: Africa Finance Corporation Tops US$1 Billion Revenue for First Time as Landmark Projects Unlock Growth Across the Continent

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

    LAGOS, Nigeria, April 9, 2025/APO Group/ —

    Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has announced its strongest financial performance to date, with total revenue for the year ended 31 December 2024 surpassing US$ 1 billion for the first time in the Corporation’s history.

    This record performance marks a significant milestone in AFC’s mission to close Africa’s infrastructure gap through scalable, de-risked investments that attract global capital and deliver tangible development outcomes. The Corporation posted a 22.8% increase in total revenue to US$1.1 billion and a 22.3% rise in total comprehensive income to US$400 million, up from US$327 million in 2023.

    AFC’s earnings growth was driven by improved asset yields, prudent cost-of-funds management and sustained traction in advisory mandates.  

    Further significant financial highlights include:

    • Net interest income up 42.5% to US$ 613.6 million
    • Fee and commission income rose to US$109 million, the highest in over five years
    • Operating income climbed 42.7% to US$709.7 million
    • Total assets reached a record US$14.4 billion, a 16.7% year-on-year increase
    • Liquidity coverage ratio strengthened to 194%, providing over 34 months of cover
    • Cost-to-income ratio improved to 17.3% from 19.6% in 2023

    Throughout 2024, AFC continued to scale its impact by mobilising capital for landmark projects across energy, transport, and natural resources. These included the Lobito Corridor – a cross-border railway development spanning Angola, the Democratic Republic of Congo (DRC), and Zambia. AFC led the initiative to secure a concession agreement within one year of the initial Memorandum of Understanding (MoU), an unprecedented achievement for a project of its scale. In the DRC, AFC also invested US$150 million in the Kamoa-Kakula Copper Complex, Africa’s largest copper producer and one of the most sustainable globally, thanks to its high-grade ore and renewable-powered smelter.

    Other milestones transactions included financing support for the commissioning of the Dangote Refinery, the largest in Africa, and continued progress on AFC-backed Infinity Power Holding’s 10 GW clean energy ambition, with power purchase agreements secured in Egypt and South Africa. AFC also invested in the 15GW Xlinks Morocco-UK Power Project, providing US$14.1 million to support early-stage development of a transcontinental renewable energy pipeline between North Africa and Europe.

    AFC strengthened its capital base and expanded its investor network through several landmark funding initiatives. These included a US$ 1.16 billion syndicated loan – the largest in its history, a US$500 million perpetual hybrid bond issue, and the successful execution of Nigeria’s first-ever domestic dollar bond, which raised US$900 million at 180% oversubscription. AFC also returned to the Islamic finance market after eight years, closing a US$400 million Shariah-compliant facility.

    The year also saw strong momentum in equity mobilisation, with US$181.8 million in new capital raised from ten institutional investors. These included Turk Eximbank – AFC’s first non-African sovereign shareholder – the Arab Bank for Economic Development in Africa (BADEA), and several major pension funds spanning Cameroon, Seychelles, Mauritius, and South Africa. Ratings agencies affirmed AFC’s robust credit profile, with AAA ratings from S&P Global (China) and China Chengxin International, and a stable A3 Outlook from Moody’s.

    “These results send a clear message that strategic investment in African infrastructure creates lasting value for both beneficiaries and investors,” said Samaila Zubairu, President & CEO of AFC. “In 2024, we exceeded the billion-dollar revenue mark, delivered game-changing projects, and reinforced our financial resilience—demonstrating the scalability of our unique model that blends purpose with performance to accelerate Africa’s economic transformation.”

    Read the full annual report here (https://apo-opa.co/424qlmR)

    MIL OSI Africa –

    April 10, 2025
  • MIL-OSI Economics: Eva Zamrazilová: The role of macroeconomic models in the forecasting process – survey results

    Source: Bank for International Settlements

    Presentation accompanying the speech

    Good morning, ladies and gentlemen,

    A very warm welcome from me as well.

    It’s not easy to take the floor after such a distinguished personality as Claudio Borio. However, I’ll try to shift your attention to some quite interesting (practical) results covering 22 central banks concerning monetary policy frameworks.

    Our panel will be organised as follows. First, I will briefly present selected issues from a questionnaire survey of 22 inflation-targeting central banks mostly from developed economies focused on the role of macroeconomic models in forecasting processes and decision-making. This short presentation will serve mainly as the kick-off for further discussion with our guests. 

    First, some background. In the summer of 2023, the Bank Board decided to reflect the past turbulent years, to check our monetary policy framework and, if necessary, to start a first-ever monetary policy review.

    As a first step, we decided to learn some lessons about practices at other inflation-targeting central banks. A team from our Monetary Department led by Professor Komárek designed quite a comprehensive questionnaire, with more than 20 questions which more than 20 central banks responded to. The results, which can be found on our website, are, of course, in anonymised form. They offer a basic overview of the topics we were interested in.

    The number and type of models, and their role and position.

    We were especially interested in this question, because our practice to date has been to use one central fully-fledged model of the DSGE type.

    This slide shows that the majority of central banks use two or more models. At the same time, most banks use a DSGE model, although not as their sole model – just two banks use DSGE this way.

    DSGE is serving as main model in four CBs that use two or more models. Three banks have two equivalent core models, one of which is of DSGE type. Eight other banks use DSGE as a supportive model for cross-checking the results of the main model or for construction of alternative scenarios.

    Therefore, the conclusion is clear – DSGE models certainly have a place in central banks’ forecasting processes, but not an exclusive one. The responses reveal that we are a kind of an outlier, together with another two central banks, and that we should possibly try to develop a second model. This conclusion has since been confirmed by the two surveys conducted by our external reviewers.

    Regarding the role of individual models in banks that use two or more models – minority of central banks (one third) have two equivalent models. One model is usually the core one and the other is ancillary. The motivation for having more than one model is to have an alternative concept or methodology, as well as to look for different levels of detail.

    The final issue I would like to touch has been quite interesting for us as well. The responses to the question about the horizon for bringing inflation back to the target show that the most frequent monetary policy horizon is two years. Just four central banks prefer a shorter horizon, including ourselves, so we are in the minority again.

    Those were my initial remarks and now let us turn to our panel discussion. 

    MIL OSI Economics –

    April 10, 2025
  • MIL-OSI Economics: Jan Frait: Monetary policy analysis at the crossroads – insights from central banks’ reviews

    Source: Bank for International Settlements

    Introductory remarks for the Panel Discussion

    It is a great honour for me to chair the second panel today, in which we move further towards research and academic thinking. In particular, we will focus on the analytical and modelling frameworks used by central banks to support monetary policy decision-making.

    Before we do so, I’d like to start by introducing myself as a monetary policymaker with some personal statistics. I have attended more than 200 monetary policy meetings in one capacity or another. As a board member, I have voted 93 times – 31 times for a cut and only twice for a hike. That looks pretty dovish, for sure. On the other hand, for 87% of the time I’ve been voting on interest rates, the relevant monetary policy rate has been higher than headline inflation. This appears more hawkish. Well, things are really state-dependent.

    No matter how long or how many times I’ve done this, I still consider myself a young apprentice, caught between Scylla and Charybdis – to borrow a lyric from one of my favourite bands, The Police. I approach decision-making with plenty of humility. In other words, even after all these years, much of what goes on in the economy remains to some extent a mystery to me. I don’t feel I understand macroeconomic dynamics much better than I did 20 years ago.

    When I was a student, macroeconomics and monetary theory textbooks described monetary policy as more of an art than a science. By the time I joined the Czech National Bank at the beginning of the century, it was a different story. Monetary policy had been operating under the then-new inflation-targeting regime for two years. Decision-making was increasingly based on a modelling framework derived from New Keynesian macroeconomics, which had gained the status of a fully-fledged science. Whether or not it actually deserved it was never discussed at the time.

    One of the key aspects of this new paradigm was the belief that vague monetary policy objectives such as “sound money”, “monetary stability”, and “macroeconomic stability” should be replaced by the more concrete objective of price stability – ideally in the form of a specific numerical inflation target expressed as growth in the consumer price index.

    After more than a quarter of a century of experience with this approach, I’m inclined to think that, as usual, we romantically overestimated its capacity. The primary monetary policy objective started to be viewed too narrowly. The focus on a specific number was opportunistically misused to maintain extremely low interest rates and highly supportive monetary policy in times of positive supply shocks, even when there weren’t always strong macroeconomic grounds for doing so.

    In many countries, monetary policy became rather asymmetric. A regime designed to prevent time inconsistency in monetary policy often ended up fostering it. I constantly heard the argument, “It doesn’t matter that inflation is currently above the target. It’ll soon return to it thanks to anchored expectations.” Yet as soon as inflation dropped below the target, the rhetoric changed to, “There’s a threat of deflation. We need to have extremely low rates or use other instruments to ease monetary and financial conditions.”

    This was despite – or maybe even because of – the fact that monetary policy in developed countries had become a very powerful tool of economic policy. A tool on which hopes are pinned whenever sentiment worsens and economic activity slows. The models we use to assess and forecast macroeconomic developments undoubtedly encourage such hopes.

    In the summer of 2002, the Czech National Bank introduced a small-scale, semi-structural, gap-based model called the Quarterly Projection Model (QPM) for forecasting and analysis. QPM was a big step forward. It taught experts and board members to apply a model-consistent approach to macroeconomic policy. In a converging economy with a nominally appreciating currency and a rapidly developing financial sector, it was, of course, difficult for the model to explain everything that was happening. Frustration with the model outcomes began to mount when global macroeconomic volatility surged in 2007 amid large financial imbalances.

    I was no longer at the monetary policy coalface at that time, as between 2007 and 2022, I worked in financial stability and macroprudential policy. My only monetary policy-related legacy from this period can be seen on the webpage about “the mandate of the Czech National Bank”, which states: “Through the joint action of monetary policy and macroprudential policy, we contribute to maintaining confidence in the value of the Czech koruna and safeguarding the stability of the macroeconomic environment.” We keep doing so.

    Frustration with predictions probably drove the decision to switch hastily to a New Keynesian DSGE model in the summer of 2008. Maybe there were other reasons, but the Czech National Bank’s representatives did not expand on them at the time. Then the Global Financial Crisis erupted, and there was no longer any time for such discussions.

    It’s no secret that I never considered it beneficial to replace the semi-structural model with the DSGE model as the sole approach for macroeconomic forecasting. Not because I dislike one theory or model over another, but because theories and models are valuable to a central bank only to the extent that they facilitate an informed and sufficiently comprehensive debate – one that helps us understand the evolving economic story in the short, medium, and long run.

    Basing monetary policy decision-making solely on the microeconomically consistent but economically limited New Keynesian DSGE model ultimately narrowed the debate. The process became more automatic, and the decision-making appeared easier. The dilemmas that board members typically face became less visible. They were obscured by the standard linearization around the inflation target, which is typical of New Keynesian models. We tended to overestimate the impact of short-term interest rate changes while underestimating the effects of our powerful communication on long-term interest rates and asset markets. Paradoxically, this more “scientific” approach resulted in greater discretion in decision-making – and in sizeable unintended effects.

    Today, in 2025, we are a little more enlightened. The recent wave of inflation was a kind of blessing in disguise. It reminded us that monetary policy is still an art as well as a science. It taught us that the primary purpose of macroeconomic analysis is to distinguish fundamental trends from temporary fluctuations, local peculiarities from global phenomena, and supply shocks from demand shifts. It helps monetary policymakers be principled yet flexible in challenging times, especially during geopolitical and economic turbulence.

    In this context, it’s only natural that many inflation-targeting central banks are considering changes to their monetary policy frameworks. More than a year ago, the CNB also decided to undertake an external review of its monetary policy analytical and modelling framework – the first such review in its history. We commissioned three independent reviews to gain a comprehensive perspective. And we got it. Two of the three reviewers accepted our invitation to join this panel.

    Before I introduce the panellists, I’d like to make another musical analogy. I belong to a generation where many were briefly fascinated by jazz-rock – virtuoso musicians playing a lot of notes very fast. Amazing at first listen, still entertaining at the third, but for most of us, boring by the tenth – because the music lacked variation in mood, timbre, and rhythm. Then bands like The Police came along – jazz-trained musicians playing simple yet original songs in a technically brilliant yet energetic way, capturing the zeitgeist. With stops and double stops. Leaving plenty of space for the imagination.

    I’d be glad if this approach became more widespread in the modelling we do to support monetary policy decision-making. We need analyses that are technically rigorous yet responsive to economic, social, and political dynamics – driven by emotion and belief, scepticism and conviction, avarice and altruism. To achieve this, we must diversify our thinking, remain open to adjusting our mindsets when major shifts occur, and invest in people who can develop alternative models and implement fresh ideas from academic research. We should be open to semi-structural, DSGE, agent-based, and other sorts of models, and use them in a way that improves our understanding of sometimes enigmatic developments in the economy.

    Now I will truly hand over the mic to the power trio here today, who – except for one member – also happened to fly in from Britain. They all pay great attention to similar issues while differing in their methodological approaches.

    John Muellbauer is a Senior Research Fellow at Nuffield College, Professor of Economics, and a Senior Fellow at the Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.

    He earned his undergraduate degree from Cambridge University and his doctorate from the University of California. John has collaborated with legendary macroeconomists and econometrists such as Charles Goodhart, David Hendry, Peter Sinclair, and Adrian Pagan. He has also served as a consultant for the Bank of England, HM Treasury, the South African Reserve Bank, and, more recently, the Czech National Bank. In 2024, he conducted a review of the Czech National Bank’s analytical framework for policy analysis and forecasting, assessing its core and satellite models as part of an integrated approach to monetary policymaking.

    Roman Šustek is a Reader in Economics at Queen Mary University of London and a Research Associate at the Centre for Macroeconomics at the London School of Economics. His research focuses on housing, mortgage finance, monetary policy, and the term structure of interest rates. He transitioned to academia after five years as an economist in the Monetary Assessment and Strategy Division of the Bank of England. He earned his PhD from the Tepper School of Business at Carnegie Mellon University, following an earlier role as an economist at the Czech National Bank in Prague. As part of the 2024 Czech National Bank monetary policy review, Roman contributed to the assessment of macroeconomic forecasting models and processes used in policy analysis. In his research and writings, Roman often focuses on the same topics as John, in particular on the links between household consumption, house prices, and mortgage regulation. These are ultimately the topics that were viewed as rather important by the BIS economists under our keynote speaker-Claudio Borio.

    Jakub Matějů is the Deputy Executive Director of the Monetary Department at the Czech National Bank and the Acting Director of the department’s Macroeconomic Forecasting Division. He is also temporarily heading the Monetary Department. His research and policy work focuses on macroeconomic forecasting and monetary policy. Before his current role, he worked as an economist in the CNB’s Monetary Department. He later joined the European Central Bank and served as a senior economist in the analytical team of Komerční banka. In 2019, he returned to the CNB as an adviser to the Bank Board and has been the Deputy Executive Director of the Monetary Department since 2023. Jakub has received several Czech Economic Society Young Economist awards and the CNB’s Economic Research Award for his research. He earned his PhD in Economics from CERGE-EI, following his studies at the Institute of Economic Studies, Faculty of Social Sciences, Charles University.

    MIL OSI Economics –

    April 10, 2025
  • MIL-OSI Global: Critically ill patients in African hospitals aren’t getting the care they need: new survey

    Source: The Conversation – Africa – By Tim Baker, Associate Professor, Karolinska Institutet

    When someone falls critically ill, hospitals are expected to provide life-saving care. But in many African countries, intensive care units are rare. Critically ill patients are treated in general hospital wards, and the provision of essential emergency and critical care is limited.

    Critical illness refers to any life-threatening condition where at least one vital organ – such as the heart, lungs, or brain – is failing. It can arise from any underlying condition including infections, injuries, or non-communicable diseases such as heart attacks and strokes, and can affect anyone of any age.

    In high-resourced settings some critically ill patients are treated in intensive care units. They receive continuous monitoring, oxygen support, medication to stabilise their blood pressure, and other life-saving treatments. Until now, most data on critical illness and critical care in Africa has come from small, single-hospital studies. These studies hinted at a serious problem.

    For example, a study in Uganda found that 11.7% of inpatients were critically ill, with a 22.6% chance of dying within a week. However, there was no large-scale research showing how widespread this was across the continent.

    That is why we, a collaboration of clinical researchers across Africa, conducted the African Critical Illness Outcomes Study, providing the first large-scale look at the state of critical illness care across the continent.

    The study builds on a network of clinicians, researchers and policy makers that has been growing for over a decade now, working out how to identify and treat patients who are critically ill.

    The findings, published in The Lancet, are striking. One in eight hospital inpatients in Africa is critically ill, over two-thirds of the critically ill are in general wards, and one in five dies within a week.

    Most of these patients do not receive the essential emergency and critical care such as oxygen and fluids that could save their lives.

    What we found

    The African Critical Illness Outcomes Study investigated 20,000 patients at one point in time in 180 hospitals in 22 countries across Africa. Countries throughout the continent were included, from Tunisia in the north to South Africa in the south, from Ghana in the west to Tanzania in the east.

    Between September and December 2023, all adult inpatients in each hospital were examined on a single day to collect data about their clinical condition and treatments, and then a week later, their in-hospital outcomes.

    The key findings were:

    • 12.5% of hospital inpatients were critically ill

    • 69% of critically ill patients were treated in general hospital wards, not intensive care units

    • more than half of critically ill patients didn’t receive the treatments they needed

    • critically ill patients were eight times more likely to die in hospital than other patients.

    The study also revealed gaps in the most basic life-saving interventions:

    • only 48% of patients with respiratory failure received oxygen therapy

    • just 54% of patients with circulatory failure (such as shock) received fluids or medications to stabilise blood pressure

    • less than half of patients with a dangerously low level of consciousness received airway protection or were placed in the recovery position.

    These findings highlight a clear and urgent problem: many critically ill patients in Africa are not receiving the essential treatments that could keep them alive.

    What can be done?

    The study suggests that thousands of lives could be saved if hospitals had better access to essential emergency and critical care. This is a set of simple, low-cost interventions that can prevent deaths from critical illness.

    The care interventions include:

    • ensuring oxygen is available for patients struggling to breathe

    • providing fluids or medications to stabilise blood pressure

    • training healthcare workers in basic life-support techniques to manage unconscious patients.

    Unlike high-tech intensive care unit treatments, essential emergency and critical care can be given in general wards with minimal resources.

    Strengthening these systems could dramatically reduce preventable deaths from conditions such as pneumonia, sepsis and trauma.

    Urgent action is needed

    This study sheds light on a healthcare crisis affecting millions of people, yet one that has remained largely overlooked.

    Every critically ill patient, no matter where they are treated, should receive the basic life-saving care they need.

    We call for urgent action.

    • Governments in Africa should make essential emergency and critical care a core part of universal health coverage. It should be integrated into policies and health benefit packages.

    • The World Health Organization should embed essential emergency and critical care measures into its resolutions.

    • African health funders should support studies and implementation of essential emergency and critical care.

    • Professional medical societies and institutions should include this care in clinical guidelines and training. Frontline healthcare workers must have the tools they need to save lives.

    The EECC Network, a global community dedicated to sharing knowledge, research and best practices, has been started to help prevent needless deaths.

    * Nick Leech, who works on the promotion of essential emergency and critical care on behalf of EECC Global, contributed to this article.

    Tim Baker declares technical consultancies with UNICEF, the World Bank, USAID, and PATH, has received research funding from Wellcome Trust and the National Institute for Health and Care Research and is a board member at the non-profit organisation EECC Global.

    Karima Khalid is a board member of EECCGlobal

    – ref. Critically ill patients in African hospitals aren’t getting the care they need: new survey – https://theconversation.com/critically-ill-patients-in-african-hospitals-arent-getting-the-care-they-need-new-survey-253355

    MIL OSI – Global Reports –

    April 10, 2025
  • MIL-OSI Banking: ASEAN and New Zealand commit to strengthening strategic partnership and cooperation

    Source: ASEAN

    Da Nang, Viet Nam, 9 April 2025 – ASEAN and New Zealand reaffirmed their strong and enduring partnership during the 32nd ASEAN-New Zealand Dialogue held in Da Nang, Viet Nam, today. The Dialogue provided an opportunity for both sides to review cooperation and discuss its future direction, particularly in light of the 50th anniversary of ASEAN-New Zealand Dialogue Relations this year.

    The discussion was focused on key areas of ASEAN-New Zealand cooperation, with a view to strengthening peace, stability, prosperity, and sustainable development.On peace and stability, both sides agreed to continue enhancing cooperation in areas such as countering terrorism, transnational crime, maritime cooperation, and cyber security.

    Both sides emphasised the importance of strengthening trade and investment and regional economic integration, including through the full implementation of the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) and the Regional Comprehensive Economic Partnership Agreement (RCEP).

    The Meeting underscored the growing importance of enhancing people-to-people ties and  the need to further amplify cooperation in education, human capital development, and Technical and Vocaltional Education and Training (TVET).

    In line with the theme  of Malaysia’s ASEAN Chairmanship Year of “Sustainability and Inclusivity”, both sides discussed fostering closer collaboration on climate change, environmental protection, disaster management, and narrowing the development gap, with New Zealand reaffirming its support for ASEAN’s green agenda and sustainable development initiatives.

    In conjunction with the 50th anniversary of dialogue relations, the Meeting noted the ongoing discussion on the proposal for an ASEAN-New Zealand Comprehensive Strategic Partnership and the development of a new ASEAN-New Zealand Plan of Action (2026-2030) to guide future cooperation. The Meeting further noted upcoming ASEAN-New Zealand engagements, including preparations for an ASEAN-New Zealand Commemorative Summit to be held back-to-back with the 47th ASEAN Summit and Related Summit in Malaysia in November 2025.

    ASEAN and New Zealand also exchanged views on regional and international issues of common interest and concern. Both sides reaffirmed their commitment to upholding multilateralism and strengtening the ASEAN-led regional architecture, including through the implementation of  the ASEAN Outlook on the Indo-Pacific (AOIP).

    The 32nd ASEAN-New Zealand Dialogue was co-chaired by H.E. Do Hung Viet, Deputy Minister of Foreign Affairs of Viet Nam and ASEAN SOM Leader of Viet Nam, and H.E. Grahame Morton, Deputy Secretary for Asia and Americas Group and New Zealand’s SOM Leader for ASEAN, and attended by Senior Officials of ASEAN Member States and the Deputy Secretary-General of ASEAN for ASEAN Political-Security Community. Timor-Leste attended as Observer.

    ***

    Images Credit: Ministry of Foreign Affairs Viet Nam
    The post ASEAN and New Zealand commit to strengthening strategic partnership and cooperation appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

    April 10, 2025
  • MIL-OSI United Kingdom: Health and Social Care Secretary’s UNISON speech

    Source: United Kingdom – Government Statements

    Speech

    Health and Social Care Secretary’s UNISON speech

    Health and Social Care Secretary Wes Streeting’s speech at UNISON’s annual health conference in Liverpool today.

    Good morning conference.

    Let’s start on a point of agreement.

    The killing of 15 health and rescue workers in Gaza was an appalling and intolerable tragedy.

    Healthcare workers in any context, in any part of the world, should never be a target.

    The international community, or indeed any actors in any conflict, all have a responsibility to protect health and humanitarian aid workers and also to protect innocent civilians.

    And it’s clear that in Gaza, as well as in other conflict zones around the world at the moment the international community is failing and failing badly.

    So I want to say, as a Unison member, I strongly support the sentiments expressed by our Healthcare Executive.

    But on behalf of our government, we want to see a return to an immediate ceasefire.

    We want to see aid in, people out of harm’s way, an end to this bloody conflict and a state of Palestine alongside a state of Israel, and the just and lasting peace that Israelis and Palestinians deserve.

    I also have to say, having been to the West Bank with Medical Aid for Palestinians and seen first hand the work that they do supporting the health needs of Palestinians across the occupied Palestinian territories, they do brilliant work.

    And I would fully endorse the sentiment of the motion in supporting them, and each of us putting our hands in our pockets to do that.

    But today, I’m here as the first health and social care secretary to address a Unison conference since my […] predecessor, Andy Burnham, did 15 years ago, and I am proud to do so as a Unison member.

    [Political content has been removed]

    Now we’re delivering the change people voted for.

    It’s not all plain sailing and I expect you’ll want to question, even challenge some of the government’s decisions.

    So there’ll be plenty of time for questions.

    And I promise to give you honest answers.

    [Political content has been removed]

    You might not like some of the answers.

    I might not like some of the questions, but the important thing is that we show up and we have that conversation.

    For all the challenges we’re confronting, and there are plenty nothing I’ve experienced in the last nine months as our country’s Health and Social Care Secretary has shaken my confidence and conviction that this will be a government that not only gets our NHS back on its feet, but makes sure it’s fit for the future, and shows the bold leadership required to make sure that we also build a National Care Service worthy of the name.

    Of course, it’s hard.

    [Political content has been removed]

    Six months ago, back here in Liverpool, I spent two hours with one of the most remarkable group of people I’ve ever had the honour of meeting in my life.

    In that room were centuries of training and experience between them of working in the health service.

    But all of that training, all of that experience couldn’t have prepared those people with what they were confronted with in Southport on Monday the 29th of July, as they rushed into that community centre to find children and adults lying on the floor bleeding, some tragically dying.

    The aftermath of an unimaginable, senseless, mindless attack.

    Those people were confronted immediately with the consequences.

    For the staff I met, the trauma still runs deep.

    But on the day itself, the whole NHS team kicked into action.

    From the paramedics who arrived first on the scene and had to make split-second decisions of who to treat first in what order, to give them the best chance of survival.

    The porters rushing children through busy hospital corridors, and the security guards trying to shield other patients and visitors from seeing the horror that the staff were confronting.

    The lab teams who are mobilising blood supplies.

    Receptionists fielding calls from panic-stricken parents.

    The surgical teams fighting to save those young girls lives.

    I’m filled with admiration for their care, their expertise and their values.

    As I think about what happened in the aftermath of those brutal attacks, that admiration turns to anger.

    [Political content has been removed]

    Filipino nurses came under attack from racist thugs on their way into work wearing their NHS uniforms.

    GP surgeries closed early out of fear of rioters.

    A Nigerian care worker saw his car torched.

    These people came to our country to care for our sick and vulnerable.

    They bust a gut day in, day out to keep us well.

    If those thugs represented the worst of our country, our health and care workers represent the best.

    This government will never walk by on the other side when it comes to standing up against racist hate, intimidation or violence.

    Because no one should go to work fearing violence, least of all those all of us rely on for our health care.

    What happened after Southport was an extreme, but it wasn’t a one off.

    One in every seven people employed by the NHS have suffered violence at the hands of patients, their relatives or other members of the public.

    This should shame us all.

    So today I can announce we will act to keep NHS staff safe at work.

    Incidents will have to be recorded at a national level.

    Data will be analysed so that those most at risk can be protected.

    Trust boards will be made to report on progress they’re making to keep staff safe.

    Protecting staff from violence is not an optional extra.

    We are making it mandatory.

    Zero tolerance for violence and harassment of NHS staff, campaigned for by Unison.

    [Political content has been removed]

    We invest huge sums of money into training the NHS workforce.

    Then they’re treated like crap.

    Forced to leave the health service and often leave the country.

    British taxpayers are investing billions in doctors, nurses, paramedics and healthcare assistants only for them to turn up treating patients in Canada or Australia.

    We’ve got to retain the talent we have in the health service and treat our staff with the respect they deserve.

    That means more training and opportunities for nurses who want to progress in their career, and making flexible working easier too.

    It also means paying you for the job you actually do.

    There have been too many disputes because NHS staff have not been paid according to their job description, rather than their job.

    So we’re bringing in a new digital system to make sure the job evaluation scheme is applied fairly across the board.

    [Political content has been removed]

    A fair day’s work for a fair day’s pay.

    Campaigned for by Unison.

    [Political content has been removed]

    I owe my life to the NHS.

    Who cared for me when I went through kidney cancer.

    It’s a debt of gratitude I will never be able to repay.

    But I will certainly try.

    You were there for me and I’ll be there for you.

    As the chair said, the scale of the challenge in our NHS is huge.

    [Political content has been removed]

    So our job is twofold.

    First, to get the service back on its feet and treating patients on time again.

    And second, to reform the service for the long term so that it’s fit for the future.

    And I say it’s our job deliberately, because this can’t be done with one man sat behind a desk in Whitehall.

    We will only succeed if this is a team effort, from the Prime Minister to the 1.5 million people who work in the National Health Service.

    When I visited Singapore General Hospital in opposition, they told me about a programme they run.

    It’s called get rid of stupid stuff.

    Does what it says on the tin.

    I thought the NHS could probably do with that.

    Some of you might think I could do with that.

    It’s a common sense idea.

    People working in the health service might have ideas about how to fix it.

    So over the past few months, just as we did when we were in opposition, we’ve been asking NHS staff about the stupid stuff that’s holding them back.

    More than a million people have engaged in what’s been the biggest national conversation since the NHS was founded.

    NHS staff have attended more than 3,000 meetings across the country and online, and if you’ve not made your voice heard yet, you’ve got until 5pm on Monday to go to Change.NHS.uk

    The plan, published later this spring, will take the best ideas from across the NHS, staff and workforce and patients and set out how we’ll deliver the change the NHS needs.

    Shifting the focus of healthcare out of hospital and into the community, with more investment in primary and community care.

    Bringing our analogue health service into the digital age, arming staff with modern equipment and cutting edge technology.

    Turning our sickness service into a preventative health service to help people live well for longer and tackle the biggest killers.

    The crisis in the NHS is not the fault of staff, but we can’t fix it without you.

    I know how hard it is to battle against a broken system, to give patients the best care you can, only to go home at the end of the day, knowing your best wasn’t good enough.

    But there is light at the end of the tunnel.

    The cavalry is coming.

    My message to everyone working in the NHS is this.

    Stay and help us to rescue and rebuild it.

    The NHS was broken, but it’s not beaten.

    And together we can turn it around.

    Change takes time, but it has already begun.

    In nine months, this […] government has awarded NHS staff an above inflation pay rise, ended the resident doctors strikes, invested an extra £26 billion in health and care, the biggest investment in hospices for a generation.

    We’ve agreed the GP contract for the first time since the pandemic, with £889 million more in funding, the biggest uplift in a decade.

    We’ve reversed the decade of cuts to community pharmacy.

    We’ve delivered the extra 2 million more appointments we promised at the election than we did it seven months early.

    NHS waiting lists have been cut for five months in a row and counting.

    80,000 suspected cancer patients were diagnosed early, so lots done, but so much more to do.

    We know there’s a long way to go.

    There’ll be bumps along the way.

    It won’t be plain sailing and we’ll make some mistakes.

    But we are finally putting the NHS on the road to recovery.

    On social care, we’ve been accused of not doing enough.

    I totally understand the cynicism after years of inaction.

    [Political content has been removed]

    Our first step on the road to building a National Care Service, and I can announce today, will go further for our care professionals.

    We are introducing the first universal career structure for adult social care, setting out four new job roles to give care workers the opportunities to progress in their career.

    With millions of pounds of new investment in their skills and training.

    Keir said his ambition for his sister, who is a care worker, is to command the same respect as her brother, the Prime Minister.

    Her work is so important to the future of our country.

    [Political content has been removed]

    But be in no doubt about the weight on our shoulders.

    I’m certainly not.

    Not only the responsibility to millions of people who are being failed by the NHS and social care services, but also to prove to a sceptical public that the NHS can change and deliver the timely, quality care people expect in 2025.

    On the 75th anniversary of the NHS, an opinion poll showed that the health service makes the majority of the British people proud of our country, greater than the pride we feel for any other aspect of our history or culture.

    But the same poll revealed that 7 in 10 believe that the NHS founding principle of healthcare, free at the point of need, won’t survive the next ten years.

    The failure of public services to meet the needs of the people is one of the fertilisers of populism we see across liberal democracies.

    [Political content has been removed]

    We will always defend the NHS as a public service, free at the point of use, so that when you fall ill, you never have to worry about the bill.

    [Political content has been removed]

    That’s why I say it’s change or die.

    The stakes are high.

    The challenge is enormous, but the prize is huge.

    A service that values all of its workforce as an asset to be nurtured, not a cost to be minimised.

    Where staff are proud to work because their patients receive the best possible care.

    An NHS there for us when we need it.

    Once again, it won’t be easy.

    It will take time.

    But if we get this right, we will be able to look back on this time and say that we were the generation that took the NHS from the worst crisis in its history, got it back on its feet and made it fit for the future, and built a National Care Service worthy of the name.

    Change has begun, but the best is still to come.

    Thank you.

    Updates to this page

    Published 9 April 2025

    MIL OSI United Kingdom –

    April 10, 2025
  • MIL-OSI Europe: Christoph Ammann becomes new Vice President of the SNB Bank Council

    Source: Switzerland – Department of Finance

    During its meeting on 9 April 2025, the Federal Council appointed existing Bank Council member Christoph Ammann as new Vice President of the Bank Council of the Swiss National Bank (SNB) with effect from 1 May 2025. He replaces Romeo Lacher, who has announced that he will stand down as of 25 April 2025.v

    MIL OSI Europe News –

    April 9, 2025
  • MIL-OSI Economics: 11 NBFCs surrender their Certificate of Registration to RBI

    Source: Reserve Bank of India

    The following 11 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

    i) Cancellation of CoR due to exit from Non-Banking Financial Institution (NBFI) business:

    Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancellation of CoR
    1 Ekagrata Finance Private Limited Nova Miller, Ground Floor, No 333 Thimmiah Road Vasanth Nagar, Bangalore, Karnataka – 560052 N-02.00321 September 27, 2019 March 04, 2025
    2 Ezcred Private Limited Villa 324, Adarsh Palm Retreat Villas, Phase-2 Bellandur, Bangalore, Karnataka – 560103 N- 02.00296 March 15, 2018 March 05, 2025
    3 Lamina Leasing and Finance Limited 8th Floor, B Wing, Rama Bhavan complex, Kodialbail Mangalore, Karnataka – 575003 B-02.00130 December 10, 2003 March 05, 2025
    4 Hinduja Finance Limited Plot No. C-21, Tower-C, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra – 400051 N-13.01870 June 12, 2007 March 07, 2025
    5 Whitegold Holdings Private Limited 84-A, Mittal Court, 8th Floor, 224, Nariman Point, Mumbai, Maharashtra – 400021 13.00744 March 01, 2021 March 13, 2025
    6 Trident Microfin Private Limited #11-4-189/4, Plot No. 19, 2nd Floor, Road No.6, Venkateshwara Colony, Saroornagar, Rangareddy, Telangana – 500035 B-09.00440 February 24, 2014 March 26, 2025
    7 Digikredit Finance Private Limited Office No 260, 1st Floor, Raghuleela Mega Mall, Behind Poisar Bus Depot, Off S.V. Road, Kandivali West, Mumbai, Maharashtra 400067 N-13.02223 February 07, 2018 March 28, 2025
    8 Rutgers Investment and Trading Company Private Limited 29, Bank Street, 1st Floor, Fort, Mumbai, Maharashtra – 400001 13.00353 March 18, 1998 March 28, 2025

    ii) Cancellation of CoR due to NBFC ceasing to be a legal entity due to amalgamation/ merger/dissolution/ voluntary strike-off, etc.:

    Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of cancellation of CoR
    1 Joindre Finance Private Limited 1607 16th Floor, Lodha Supremus, Opp. Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra – 400013 N-13.01838 August 31, 2006 March 17, 2025
    2 Jasol Investment & Trading Co Pvt Ltd 1607 16th Floor, Lodha Supremus, Opp. Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra – 400013 13.00864 May 26, 1998 March 17, 2025
    3 S. M. Management Private Limited Makum Road Tinsukia, Assam – 786125. 08.00174 August 10, 2005 March 20, 2025

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/70

    MIL OSI Economics –

    April 9, 2025
  • MIL-OSI Video: AI: economic game changer or job taker?

    Source: European Central Bank (video statements)

    Will AI take our jobs? Does AI boost economic productivity? Is it a choice of going green or going digital?

    Our host Paul Gordon talks to ECB colleagues António Dias da Silva, Guzmán González-Torres Fernández and Miles Parker to find out what AI means for the economy, especially for productivity, job prospects and energy supply.
    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 9 April 2025 and recorded on 3 April 2025.

    In this episode:
    00:55 Is AI replacing jobs?
    Can AI ever replace jobs in journalism or film-making? Will AI be our next podcast host?

    02:14 Is AI a job changer?
    How are new technologies changing our jobs?

    04:00 Age, education and gender
    Who uses AI and how do people feel about it? Does AI usage differ based on age, education and gender?

    06:57 Sectors with the highest AI usage
    Which sectors use AI the most? What’s behind the different attitudes towards AI in different areas of the economy?

    09:00 Corporate usage of AI
    What do companies need to effectively use AI?

    11:02 How does AI affect productivity?
    How can AI be put to good use? To what extent can Europe’s economy grow with current AI usage? Is the world ready for AI?

    13:29 The role of policymakers
    How can policymakers make it easier for companies to use AI?

    15:10 AI and energy consumption
    How much energy does AI need? How much energy does ChatGPT use for one search? Will energy demand go up or down?

    17:15 Go green or go digital?
    Do we need to choose or does AI allow both? How could AI help the green transition?

    19:10 Obstacles
    What are the roadblocks to the green and digital transitions? What investment is needed to make these transitions a success? What else needs to be done?

    21:50 Our guests’ hot tips
    António, Guzmán and Miles share their hot tips with our listeners.

    Further reading:
    The ECB Blog: AI adoption and employment prospects
    https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250321~6af1337b6b.en.html

    The ECB Blog: AI versus green: clash of the transitions?
    https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250325~ed12b0ff35.en.html

    The ECB Blog: AI can boost productivity – if firms use it
    https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250328~60c0a587f7.en.html

    Hot tip from António: Tech-focused podcast Babbage by The Economist https://www.economist.com/audio/podcasts/babbage

    Hot tip from Guzmán: The ECB recent conference on “The transformative power of AI: economic implications and challenges”
    https://www.ecb.europa.eu/press/conferences/html/20250401_transformative_power_of_ai.en.html

    Hot tip from Miles: International Energy Agency website
    https://www.iea.org/

    ECB Instagram
    https://www.instagram.com/europeancentralbank/

    European Central Bank
    www.ecb.europa.eu

    ECB Banking Supervision
    https://www.bankingsupervision.europa.eu/home/html/index.en.html

    https://www.youtube.com/watch?v=hN2xAURtlw8

    MIL OSI Video –

    April 9, 2025
  • MIL-OSI Africa: Ghana’s Minister of Lands and Natural Resources to Speak at Mining in Motion Conference

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

    CAPE TOWN, South Africa, April 9, 2025/APO Group/ —

    The Mining in Motion 2025 Summit is pleased to announce the participation of Hon. Emmanuel Armah-Kofi Buah, Minister for Lands and Natural Resources, Ghana as a keynote speaker.

    Held under the theme Sustainable Mining & Local Growth – Leveraging Resources for Global Impact, the summit brings together Ghana’s policymakers, gold mining stakeholders and international investors to explore strategies for unlocking Ghana’s full mining potential.

    Minister Buah’s participation will be instrumental in highlighting opportunities across Ghana’s gold mining value chain, discussing regulatory reforms designed to attract new investments and promoting local content development. The event will showcase Ghana’s initiatives to formalize and strengthen the artisanal and small-scale gold mining (ASGM) sector.

    Under the leadership of Hon. Bauh, Ghana’s Ministry of Lands and Natural Resources has driven the growth of the ASGM sector and its contribution to economic growth and community development. The sector employs over one million people and has generated $5 billion in gold export revenue in 2024, strengthening the mining sector’s contribution to revenue generation.

    In partnership with the World Bank, the Ministry of Lands and Natural Resources is implementing the Ghana Landscape Restoration and Small-Scale Mining Project to empower District Mining Committees and formalize the ASGM sector. Additionally, Ghana is establishing a Gold Board to improve access to finance and markets for small-scale miners. The Cooperative Mining Policy of 2024 further strengthens the sector by fostering community mining cooperatives and enhancing their technical and financial capacity.

    Minister Buah will use the summit as a platform to position Ghana as a model for ASGM formalization and sustainable sector growth. Beyond panel discussions, he will also participate in exclusive networking sessions and high-level meetings with global investors, exploration and production firms, government representatives and key mining stakeholders. These engagements will facilitate deal signings and partnerships aimed at accelerating the expansion of Ghana’s mining sector.

    Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting ASGM and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting www.MiningInMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org.

    MIL OSI Africa –

    April 9, 2025
  • MIL-OSI Russia: Telephone scammers and online extremism: Polytechnic University held training for students

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    On April 8, a training session for students entitled “Counteracting telephone scammers, measures to prevent the spread of terrorist and extremist manifestations through telecommunications networks among university students” was held in the White Hall of SPbPU.

    Currently, telephone fraud is one of the most common forms of cybercrime in the modern world. Every year, the number of such scams increases, and the methods of attackers become more sophisticated. According to experts, the number of cybercrimes, as well as the number of fraudulent schemes, will grow. The training was dedicated to the methods and techniques of counteracting telephone scammers.

    We already held a similar event for the staff of our university a month ago. Today we appeal to young people. Our task is to know the tactics, methods and ways of action of fraudsters and intruders. This topic is very relevant, so we must be extremely attentive. Listen thoughtfully to our experts to help your friends and family, – said Vice-Rector for Security of SPbPU Alexander Airapetyan.

    The presentation was made by the Director of the Higher School of Jurisprudence and Forensic Science, Dmitry Mokhorov.

    Terrorism is a threat to the national security of the Russian state, and cyber fraud has become one of the tools used by criminals. Fraud is evolving along with technology, acquiring a transnational character. Digital scams and corruption crimes dominate, which have become more complex, larger-scale and more sophisticated. The fight against them requires not only tightening laws, but also increasing the financial and legal literacy of the population. Caution and critical thinking are the main methods of protection in the era of digital risks, – emphasized Dmitry Mokhorov.

    Tatyana Kalyamina, representative of the North-West Bank of Sberbank, shared the organization’s experience in the field of security. Lyudmila Tikhonova, head of the coordination center for issues of developing an active civic position among young people, preventing interethnic and interfaith conflicts, countering the ideology of terrorism and preventing extremism at the St. Petersburg State University of Industrial Technologies and Design, gave parting words.

    The event was also attended by representatives of the FSB of Russia, employees of the departments of the Center for Combating Extremism of the Main Directorate of the Ministry of Internal Affairs of Russia for St. Petersburg and the Leningrad Region, the Main Directorate of the Russian Guard for St. Petersburg and the Leningrad Region, the UMVD of Russia for the Kalininsky District of St. Petersburg, and the chairman of the veteran organization OMON “Baltika” (on transport).

    The experts shared information about common telephone fraud schemes and methods of criminals, told how to act to prevent extremist activity, showed video materials. Particular emphasis was placed on the need to conduct educational and explanatory work among young people and the elderly. In conclusion, the polytechnicians asked questions.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    April 9, 2025
  • MIL-OSI Economics: RBI issues draft Directions on the regulatory measures announced in SDRP

    Source: Reserve Bank of India

    In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies today, the Reserve Bank has released the draft Directions on the following subjects:

    1. Reserve Bank of India (Securitisation of Stressed Assets) Directions, 2025

    2. Reserve Bank of India (Co-Lending Arrangements) Directions, 2025

    3. Reserve Bank of India (Lending Against Gold Collateral) Directions, 2025

    4. Reserve Bank of India (Non-Fund Based Credit Facilities) Directions, 2025

    The comments on the draft Directions are invited from public/stakeholders till May 12, 2025. Comments/feedback may be submitted through the respective links under the ‘Connect 2 Regulate’ Section available on the RBI’s website or may alternatively be forwarded to:

    The Chief General Manager
    Credit Risk Group
    Department of Regulation, Central Office
    Reserve Bank of India, 12/13th Floor,
    Shahid Bhagat Singh Marg,
    Fort Mumbai – 400 001
    Or
    by email

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/69

    MIL OSI Economics –

    April 9, 2025
  • MIL-OSI Banking: US tariffs on Vietnamese imports trigger strategic pivot as growth forecast trimmed to 6.5% for 2025: GlobalData

    Source: GlobalData

    US tariffs on Vietnamese imports trigger strategic pivot as growth forecast trimmed to 6.5% for 2025: GlobalData

    Posted in Business Fundamentals

    Following the news that the 10% US import tariff, including a 46% hike specifically targeting Vietnamese goods, will take effect on 09 April 2025;

    Annapurna Pillutla, Analyst, Economic Research at GlobalData, a leading data and analytics company, offers her view:

    “In response to the US tariffs, Vietnam reaffirmed its commitment to fair trade and transparency. Diplomatic engagement has been stepped up, with efforts to negotiate exemptions and clarify Vietnam’s trade and monetary policies. Vietnam is eliminating tariffs on US imports following Trump’s announcement of a 46% levy. Vietnam also proposed zero tariffs on the US goods and requested a delay of 45 days in tariff implementation, aiming for a mutually beneficial agreement.

    “Vietnam’s economy is heavily dependent on the export of goods and services, which constitute nearly 100% of its GDP. In 2024, goods exports to the US amounted to $136.6 billion, representing 30.1% of Vietnam’s GDP. The sharp escalation in tariffs on Vietnamese imports signals a critical juncture in Vietnam-US trade dynamics. Given the US accounts for close to a third of Vietnam’s GDP through goods exports, the latest measures introduce significant downside risks, particularly to export-reliant industries such as textiles and footwear, where cost pressures and competitive positioning are already under strain. “Against this backdrop, GlobalData has revised the forecast of Vietnam’s GDP growth to 6.5% in 2025, down from 6.7%, as demand from one of its largest trading partners softens.

    “This development is expected to fast-track Vietnam’s strategic shift toward economic diversification. Beyond intensified trade negotiations, the government is now likely to double down on initiatives to attract high-value foreign investment, scale up digital capabilities in manufacturing, and strengthen bilateral trade ties with economies in the EU, India, and Latin America. Over time, such moves could reduce Vietnam’s exposure to single-market volatility and set the foundation for more resilient and balanced growth.”

    MIL OSI Global Banks –

    April 9, 2025
  • MIL-OSI Banking: Top 25 global insurers market value up 17% YoY in Q1 2025, reveals GlobalData

    Source: GlobalData

    Top 25 global insurers market value up 17% YoY in Q1 2025, reveals GlobalData

    Posted in Business Fundamentals

    • PICC Property and Casualty and Assicurazioni Generali shares surge 40%
    • Elevance Health and Cigna Group lose over 15%
    • Berkshire Hathaway retains top spot

    The aggregate market capitalization (MCap) of the top 25 global insurers grew 17% to $3.5 trillion year-on-year (YoY) during the first quarter (Q1) ended on 31 March 2025. Most of the stocks recorded a sharp growth in Q1, benefiting from the higher premium pricing amid inflationary trends, improved investment income driven by elevated interest rates, and favorable underwriting performance due to fewer large-scale catastrophic events in the period, according to GlobalData, a leading data analytics and research company.

    Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “The global insurance industry showed signs of recovery in early 2024, with property and casualty insurers implementing premium increases to counter inflation and rising natural disaster claims, while life insurers continued adapting to shifting interest rate environments. The sector accelerated digital transformation efforts through AI and automation investments, expanded parametric insurance offerings for climate risks, and focused on customer experience improvements.”

    PICC Property and Casualty

    PICC P&C, the largest non-life insurance company in mainland China, shares registered a remarkable 40.5% growth in market value during the period, driven by strong FY2024 results on the back of strategic optimization of its motor vehicle insurance business structure with 38.8% market share in household motor vehicle insurance, coupled with accelerated growth in non-motor vehicle insurance segments and enhanced operational efficiency through technology-enabled expense management.

    Assicurazioni Generali

    Generali’s excellent 2024 results exceeded financial targets and completed the “Lifetime Partner 24” strategic plan through consistent organic growth and successful business integrations, positioning the company to pursue its new “Lifetime Partner 27” plan focusing on earnings growth, cash generation, and increased shareholder returns while leveraging AI capabilities to address evolving customer needs. Consequently, the company’s market valuation also rose by 39.5%, reaching $55.1 billion by the end of Q1 2025.

    Grandhi continues: “Berkshire Hathaway witnessed a 25.7% increase in market value attributed to its strong investment portfolio performance, particularly in energy and infrastructure assets, and resilient insurance underwriting results across GEICO and Berkshire Hathaway Reinsurance Group. Furthermore, strategic investment decisions by Warren Buffett, and investor confidence in the company’s substantial cash reserves perpetuated the stock’s upward trajectory, affirming Berkshire Hathaway’s status as a coveted asset.”

    Elevance Health and The Cigna Group saw sharp YoY declines of -18.6% and -17.0%, respectively. This downturn was largely influenced by declining enrolment in individual and group health plans, elevated medical loss ratios, and ongoing antitrust scrutiny affecting sentiment. Life Insurance Corporation of India (LIC) also fell 15.4% due to underwhelming policy growth, weak equity market returns in India and limited foreign institutional investment.

    Grandhi concludes: “Looking ahead to Q2 2025, the global insurance industry faces a nuanced outlook. The US Federal Reserve has signalled a potential pause in interest rate hikes, which could stabilize fixed-income yields and benefit life insurers’ investment portfolios. However, geopolitical developments—such as recent tariff escalations between the US and China—may pressure global trade insurance demand and raise claims risk, particularly in marine and credit insurance lines.

    “Moreover, inflationary pressures in Europe and selective tightening in Asian economies could compress margins, though they also prompt upward repricing, supporting premium growth. On the positive side, increased awareness of climate and cyber risks are expected to drive further growth in specialty insurance lines.”

    MIL OSI Global Banks –

    April 9, 2025
  • MIL-OSI: Eagle Bancorp Announces Earnings Call on April 24, 2025

    Source: GlobeNewswire (MIL-OSI)

    BETHESDA, Md., April 09, 2025 (GLOBE NEWSWIRE) — Eagle Bancorp, Inc. (the “Company”) (NASDAQ: EGBN), the Bethesda-based holding company for EagleBank, one of the largest community banks in the Washington D.C. area, today announced that it will host a teleconference call for the financial community on April 24, 2025, at 10:00 a.m. (EDT). On this call, Eagle Bancorp Inc.’s Chief Executive Officer Susan Riel and Chief Financial Officer Eric Newell will discuss earnings for the first quarter 2025 financial results. Those results will be released after the close of business on April 23, 2025.

    Interested parties will need to register at the below-noted URL in order to listen and participate in the call. Once a participant registers with a valid email, they will receive a dial-in phone number and unique PIN number which will be needed to access the call. The call will also be available live via webcast on the Company’s website, which is www.EagleBankCorp.com. A replay of the call will be available on the Company’s website through May 8, 2025.

    Participant Call Registration Link:
    Conference Registration

    Webcast Link:        
    Eagle Bancorp 1st Quarter 2025 Earnings Conference Call

    Caution About Forward-Looking Statements 
    This press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Company operations and policies and regarding general economic conditions. These forward-looking statements are based on current expectations that involve risks, uncertainties, and assumptions. Because of these uncertainties and the assumptions on which the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein. Readers are cautioned against placing undue reliance on any such forward-looking statements. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and other filings with the SEC. Except as required by law, the Company does not undertake to update forward-looking statements contained in this release.

    About Eagle Bancorp, Inc. and EagleBank
    Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998. EagleBank is headquartered in Bethesda, Maryland, and conducts full service commercial banking through 12 offices, located in Suburban, Maryland, Washington, D.C. and Northern Virginia. EagleBank focuses on building relationships with businesses, professionals and individuals in its marketplace.

    EagleBank Contact
    Eric Newell, Chief Financial Officer, Eagle Bancorp, Inc.
    240.497.1796

    The MIL Network –

    April 9, 2025
  • MIL-OSI United Nations: Moldova encouraged to implement findings of Polish-funded critical infrastructure resilience project

    Source: UNISDR Disaster Risk Reduction

    The final meeting of UNDRR’s Polish Aid-funded “Strengthening Critical Infrastructure Resilience in the Republic of Moldova” project called on the government and development partners to take action to protect critical infrastructure from growing disaster risks.

    The United Nations Office for Disaster Risk Reduction (UNDRR) and the Ministry of Infrastructure and Regional Development (MIRD) hosted a meeting to present the final findings of the project, gathering key stakeholders, including Secretaries of State from MIRD and other government ministries, the Polish Ambassador, the UN Resident Coordinator, UN agencies, development partners, and international financial institutions.

    Launched in July 2024 with financial support from the Government of Poland, the project applied a global methodology developed by UNDRR and the Coalition for Disaster Resilient Infrastructure to assess the resilience of Moldova’s critical infrastructure, focusing on energy, ICT, transport, and water sectors. Moldova became the first country in Europe and Central Asia to adopt this approach, which has been implemented in Asia-Pacific, Africa, and Latin America.

    Moldova is highly vulnerable to natural hazards such as floods, storms, and droughts, as well as broader impacts of climate change. These risks pose significant threats to critical infrastructure, which is vital for providing essential services and supporting key economic sectors.

    The final meeting in Chisinau brought stakeholders together to advance the risk-informed recommendations from the project’s national roadmap report, aimed at strengthening Moldova’s resilience across sectors and governance levels.

    The roadmap report examines vulnerabilities in critical infrastructure systems against disaster risks, highlighting systemic and cascading impacts, as well as interdependencies during disruptions. It identifies gaps and proposes improvements in policies, regulations, and their implementation, along with areas for enhanced coordination across sectors and governance levels. The report outlines cross-sectoral and sector-specific Resilience Action Plans, balancing short-term preparedness with long-term strategies, aligning with Moldova’s National Disaster Risk Reduction Strategy and the EU National Accession Programme.

    Mr. Corneliu Cirimpei, the State Secretary of the Ministry of Infrastructure and Regional Development said that “effective disaster risk management in Moldova is currently focused more on response, rather than on proactive disaster risk reduction measures, and therefore there is a significant opportunity in updating and harmonizing the regulatory framework to strengthen preparedness and ensure the continuity of essential services in the face of disruptions.”

    H.E. Tomasz Kobzdej, Ambassador Extraordinary and Plenipotentiary of the Republic of Poland, underlined the “importance of efforts to strengthen critical infrastructure resilience in the face of complex disaster risks and threats in Moldova”, emphasizing “the linkages of the project recommendations with Moldova’s EU accession process.”

    Ms. Yesim Oruc, UN Resident Coordinator in the Republic of Moldova, welcomed “the findings of this comprehensive initiative as a steppingstone for developing both sectoral and cross-sectoral plans to strengthen infrastructure resilience in Moldova”, underlining “the resilience of critical infrastructure systems and the key services as a prerequisite for achieving the Sustainable Development Goals”

    Ms. Natalia Alonso Cano, Chief of the UNDRR Regional Office for Europe and Central Asia, called for a “whole-of-government and multi-stakeholder approach to advance the priority actions identified in the roadmap report, ensuring continuity and coherence across partners in strengthening infrastructure resilience”, adding that “UNDRR remains committed to supporting Moldova in building its critical infrastructure resilience across sectors, in alignment with national priorities and global best practices.”

    The project was supported by a Technical Working Group co-chaired by UNDRR and MIRD, comprising representatives from six ministries, the State Chancellery, the General Inspectorate for Emergency Situations, and the Agency for Geodesy, Cartography and Cadastre, along with UN agencies and civil society organizations. The initiative included consultations, webinars, and workshops, such as the Stress Test and Resilience Scorecard Workshop held in Chișinău in November 2024, with participation from the European Bank for Reconstruction and Development.

    About the project

    Launched in July 2024 with financial support from the Government of Poland, the “Strengthening critical infrastructure resilience in the Republic of Moldova” employs a global methodology developed by UNDRR and the Coalition for Disaster Resilient Infrastructure to assess the level of critical infrastructure resilience, identify gaps, foster collaboration among key stakeholders, and to formulate an implementation plan to enhance governance and investments in infrastructure resilience, in line with government priorities.

    About UNDRR

    UNDRR is the lead agency in the United Nations on disaster risk reduction. It provides leadership, expertise, and tools to enable countries to understand and act on disaster risks before they become disasters. UNDRR’s work is guided by the Sendai Framework for Disaster Risk Reduction 2015-2030, which aims to achieve a substantial reduction in disaster risk and losses by the year 2030.

    MIL OSI United Nations News –

    April 9, 2025
  • MIL-OSI: Form 8.5 (EPT/RI) – Amendment – Dowlais Group plc

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.5 (EPT/RI)

    Amendment 2(a)
    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: Investec Bank plc
    (b)        Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree
    Dowlais Group Plc        
    (c)        Name of the party to the offer with which exempt principal trader is connected: Investec is Broker to Dowlais Group Plc
    (d)        Date dealing undertaken: 07th 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”
    N/A

    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 Lowest price per unit paid/received

    Ordinary shares

    Purchases

    177,668 51 47.75

    Ordinary shares

    Sales

    177,068 50.7 48.12

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD
    Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Number of reference securities Price per unit
    N/A N/A N/A N/A N/A

    (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
    N/A N/A N/A N/A N/A N/A N/A N/A

    (ii)        Exercise

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

    (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)
    N/A N/A N/A N/A

    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: 08thApril 2025
    Contact name: Abhishek Gawde
    Telephone number: +91 9923757332

    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 9, 2025
  • MIL-OSI Economics: CBB and SWIFT Hold Annual SWIFT User Group Meeting in Bahrain

    Source: Central Bank of Bahrain

    Published on 9 April 2025

    Manama, Bahrain – 9 April 2025: The Central Bank of Bahrain (CBB) has partnered with SWIFT to hold the annual SWIFT national user group meeting in Bahrain. The event was held on Tuesday, 8th April 2025, at the InterContinental Regency Hotel, with the participation of over 60 representatives from various licensed financial institutions in the Kingdom.

    The meeting provided attendees with the latest updates from SWIFT, including SWIFT’s Global Payment Innovation (GPI) designed to improve cross-border payments for both clients and banks. The session also highlighted the Pre-Val service, which aims to reduce potential errors in payment messages by pre-validating payment data before transmission.

    On this occasion, Mr. Yousef Rashid Al Fadhel, Executive Director of Corporate Services at CBB and Chairperson of Bahrain’s SWIFT User-Group, said: “We are pleased to collaborate with SWIFT to gather Bahrain’s user members. Through this event, we hope to contribute to boosting the competitive potential of all parties, while enabling them to meet the developments of the thriving payment landscape.”

    The meeting also focused on the qualifications behind the ISO 20022 certification, a global standard for exchanging electronic data between financial institutions. In addition to the objectives of the Group of Twenty (G20), the premier forum for international economic cooperation.

    Share this

    MIL OSI Economics –

    April 9, 2025
  • MIL-OSI United Kingdom: Strabane BID celebrates local culinary excellence as three establishments earn top honours

    Source: Northern Ireland – City of Derry

    Strabane BID celebrates local culinary excellence as three establishments earn top honours

    9 April 2025

    Strabane BID is delighted to congratulate three local establishments on their outstanding success at The Irish Restaurant Ulster Regional Awards held on April 1st at the Hillgrove Hotel in Monaghan.

    Oysters Restaurant achieved remarkable recognition, winning both the Best Restaurant award and Best Chef award for Vincent Mahon in the Tyrone category. The Thirsty Filly was named Best Newcomer for Tyrone, while The Banks Restaurant’s Shane Breslin earned the prestigious Best Restaurant Manager award for Tyrone.

    The award ceremony featured strong representation from Strabane, with seven local establishments nominated, including Oysters, The Thirsty Filly, The Banks Restaurant, The Cherry Tree, Tusk Restaurant, The Farmers Home and The Harp and Fiddle.

    A special acknowledgment goes to John McGowan from The Farmer’s Home, who has been shortlisted for the All Ireland Outstanding Achievement Award.

    All regional winners, along with John McGowan, will attend the All Ireland awards ceremony on May 19th in Dublin.

    Congratulating the winners the Mayor of Derry City and Strabane District Council, Cllr Lilian Seenoi Barr said: “This outstanding achievements by our local restaurants showcases the exceptional culinary talent we have here in Strabane. Their success not only brings recognition to these fine establishments but also highlights our town as a growing food destination in Northern Ireland. I extend my warmest congratulations to all winners and nominees, and wish them continued success at the All Ireland awards in May.”

    Echoing the Mayor’s comments Kieran Kennedy, chair of Strabane BID said: “The success of our local eateries demonstrates the remarkable quality and innovation that our local hospitality sector brings to the table. I’m immensely proud to see these businesses receive the recognition they deserve for their hard work, creativity, and commitment to excellence. These awards help put Strabane firmly on the map as a culinary destination and contribute significantly to our town’s economic vitality and visitor appeal.”

    Emma McGill, Strabane Town Centre Development Manager, added: “Having seven Strabane establishments nominated and three winning prestigious awards is a testament to the tremendous growth and quality of our local food scene. The dedication of these restauranteurs, chefs and staff to delivering exceptional dining experiences is helping transform our town centre into a vibrant destination. These achievements reflect the passion and entrepreneurial spirit that make Strabane special, and we’re excited to support their journey to the All Ireland awards in May.”

    For more information about Strabane BID and how it can help your business please contact Emma McGill, Town Centre Manager on [email protected]

    MIL OSI United Kingdom –

    April 9, 2025
  • MIL-OSI Russia: Competition “Archer of the Future”. Polytechnic University has two victories!

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The fifth season of the All-Russian competition of student works for the best solution of business problems “Archer of the Future” was held in Moscow. Two teams of the Higher School of Media Communications and Public Relations of the Humanitarian Institute of SPbPU won confident victories.

    Students from 35 universities in the country’s specialized fields of study presented 134 solutions for such large companies as the State Hermitage Museum, SR Space, T-Bank, TMK, the Festival of Geobrands “Land of Discoveries”, the “Water of Russia” Museum, and Sakhalin Energy. Two student teams of the Higher School of Management and Social Sciences of the Russian Federation, “Special Agents of the Russian Federation” and “Echo”, were shortlisted for the competition and invited to participate in open defenses. The mentors of the polytechnics were Marina Arkannikova, Director of the Higher School of Management and Social Sciences of the Russian Federation, and Elina Avakova and Dmitry Popov, Associate Professors of the Higher School of Management and Social Sciences of the Russian Federation.

    The first winners were the team “Special Agents of the RSO”, represented by Adelina Borozdina, Aya Klimacheva, Vladislava Smelova, Yana Lipatnikova, Anastasia Sidorova and Ekaterina Yarovaya. The girls developed the PR campaign “Beacons of the Hermitage” for the Restoration and Storage Center “Staraya Derevnya” of the legendary museum.

    A third-year student of the Advertising and Public Relations program, Aya Klimacheva, spoke about how the team tried to take into account all the customer’s wishes, conducted several types of analytics and created a unique selling proposition, including the visual design of the concept.

    This year I took part in the competition for the first time and this debut was an absolute success. We won both the professional jury and the student jury! On stage we appeared as special agents who brought an artifact (case) from St. Petersburg. Our mysterious suitcase became the real Chekhov’s gun. After the performance, many teams who had not seen us on stage asked what was inside. And the case contained real light, which the Hermitage restorers carry within themselves, this was our main message, – noted Aya.

    Team captain Adelina Borozdina added: And for me, Luchnik is already the third. In 2022, the PR.com team and I took first place in the development of an HR brand for TMK. Then we collaborated with this company under an employment contract. For me, as a second-year master’s student of “Strategic Communications in Industries 4.0”, this is such a beautiful end point of an active student life. Now the dream is to take a big Archer as a specialist.

    The second winners were the Echo team, represented by Taisiya Temirova, Polina Pozhidaeva, and Alexandra Leleko. The students proposed a PR campaign to promote TMK’s activities in industrial tourism, which they called “6 Warm Acquaintances.” According to the team, this was their best collective work in the current academic year.

    Traditionally, this year, along with the expert council, a student jury also worked, which included representatives of five universities in the country after competitive procedures. The Polytechnic University was represented by first- and second-year students of the Advertising and Public Relations program at the Higher School of Management and Social Sciences, Darya Shevchenko and Ekaterina Karpova.

    I am very glad that I was able to pass the competition tests and join the jury. The first work experience was interesting and difficult at the same time, since each participant presented their developments with such dedication that it was difficult to choose the best. But I would like to separately mention two of our teams. They stood out brightly and were simply at their best. The originality of their solutions amazed everyone, both the student jury and the experts. The Polytechnicians deservedly became the winners. Thank you for such an invaluable experience, – shared Daria Shevchenko.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    April 9, 2025
  • MIL-OSI China: Global markets crash on tariff fears

    Source: China State Council Information Office 3

    Traders work on the floor of the New York Stock Exchange in New York, the United States, April 3, 2025. [Photo/Xinhua]

    Major stock indexes across the globe plunged sharply on Monday, as investors dumped riskier assets amid mounting fears over U.S. President Donald Trump’s sweeping tariffs.

    Panic sentiments took hold of the market once trading opened in the morning. The day of April 7, with similarities to the 1987 stock market crash, is being seen as another “Black Monday” by analysts and the media.

    Washington’s controversial new set of tariffs has stirred tensions since its announcement on Wednesday, hitting global markets hard, sparking backlash from other countries and drawing widespread criticism from economists and investors.

    Global turbulence 

    Major markets across the globe witnessed a turbulent day.

    Three major benchmarks of the U.S. stock market met with major setbacks on Monday.

    The S&P 500 Index, which is composed of 500 leading companies listed in the United States, dived as much as 21.41 percent from its record high on Feb. 19 and entered the technical territory of the bear market in the morning session.

    As of 9:40 a.m. Eastern time (1340 GMT), the Dow Jones Industrial Average lost 2.63 percent, the S&P 500 shed 3.14 percent, and the Nasdaq Composite Index dropped by 3.85 percent.

    Later, false reports that the White House would pause most of Trump’s tariffs for 90 days had pumped up the market, leading to a sudden surge. However, as the White House denied the news, the market declined again. The up and down within hours indicate how desperate investors were for any potential relief from the tariffs.

    All the leading European benchmark indexes opened in the red on Monday, down by 4 to 7 percent compared with the closing prices on the previous trading day.

    Britain’s blue-chip stock index, the FTSE 100, dropped by about 5 percent, France’s CAC 40 went down by over 5 percent, and the pan-European STOXX 600 index dropped over 6 percent in morning trade.

    Germany’s DAX index was among the hardest-hit, opening down by 9.5 percent before paring back part of the losses later in the morning. The significant gains since the beginning of the year have thus been almost completely wiped out.

    The S&P/ASX 200 — Australia’s benchmark share market index — closed down 4.2 percent on Monday in a plunge worth more than 100 billion Australian dollars (60.1 billion U.S. dollars). The Australian Broadcasting Corporation reported that it was the index’s biggest one-day fall since May 2020.

    Singapore’s Straits Times Index on Monday plunged by 8.7 percent at the open. The sharp drop marked the index’s steepest single-day decline since an 8.9 percent plunge during the 2008 global financial crisis, and exceeded the 8.4 percent fall seen in March 2020 amid COVID-19.

    A pedestrian passes a screen showing stock market information in Tokyo, Japan, April 7, 2025. [Photo/Xinhua]

    Fear and fury 

    The aggressive tariffs that triggered the global stock market plunge have drawn widespread criticism of the U.S. government, amid fear and fury across the globe.

    Trump’s tariffs have a shocking effect on stock markets, Gilles Moec, chief economist at AXA Group, told Les Echos, a French economy-specialized daily.

    “This shock has no real precedent in history, which amplifies market volatility because investors have no point of reference,” he said.

    Moec noted that the current damage to global stock markets is “entirely self-inflicted by the U.S. authorities,” unlike past stock market crises which were reflections of then macroeconomic situations.

    Richard Branson, British entrepreneur and co-founder of Virgin Group, said it is time for Washington to change course. “Otherwise, America will face ruin for years to come,” he warned.

    Branson noted that companies should be given enough time to adapt, and the current market response is preventable.

    Hasan Tevfik, a research analyst at advisory firm MST Marquee, also warned of severe consequences for the U.S. economy.

    “The U.S. economy has endured a barrage of headwinds, all self-inflicted, and the end consequence will be a contraction in the economy that was humming along, exceptionally, over the last couple of years,” he told the Australian Financial Review newspaper.

    This photo taken on April 7, 2025 shows a screen at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. [Photo/Xinhua]

    Independent Australian economist Saul Eslake noted the uncertainty surrounding Trump’s next decisions and what he called the “madness” of the White House. He warned that the impact on the Australian economy was likely to be worse than the Treasury’s forecast that the country is well-placed to avoid a recession despite the “damage” being done by the U.S. tariffs.

    Doom and gloom 

    Investors have lost trillions of dollars since the tariff announcement on Wednesday. Recession odds are rising, and massive trade wars are looming. With no constructive response in sight, market confidence has been severely hit.

    DBS economists in a weekly review released on Monday noted that global markets and economies are still struggling to absorb the seismic tariff shock, with risk aversion and market selloff.

    “The key reason for that is that despite the spate of announcements, there is still substantial fear that more measures are to come. Perhaps more critical is the notion that nations trying to do a deal with the U.S. will not be able to rest easy upon signing agreements, as no deal with the U.S. seems to be reliable any longer,” wrote DBS economists Taimur Baig and Radhika Rao.

    David Gerald, president of the Securities Investors Association (Singapore), told The Straits Times, “If tariffs are sustained, they could contribute to higher inflation and slower global growth, which may in turn trigger further volatility and potential sell-offs in markets globally, including Singapore.”

    Germany’s Friedrich Merz, who is expected to become the next chancellor, also fears that U.S. trade policy could further escalate the turmoil in global stock markets. “The situation on international equity and bond markets is dramatic and threatens to worsen further.”

    JPMorgan Chase CEO Jamie Dimon warned on Monday, “The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession.”

    MIL OSI China News –

    April 9, 2025
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