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Category: Banking

  • MIL-OSI: GRUPO FINANCIERO BANORTE to Present at the Banking Virtual Investor Conference March 6th

    Source: GlobeNewswire (MIL-OSI)

    MEXICO CITY, March 06, 2025 (GLOBE NEWSWIRE) — GRUPO FINANCIERO BANORTE (GBOOY), based in Av. Revolución N° 3000, Col. Primavera, Monterrey, N.L. C.P. 64830 Mexico, focused on Financial Services, today announced that Tania Martinez Lira, Investor Relations Director and that Corina Beltrán Medina, Investor Relations Deputy Director, will present live at the Banking Virtual Investor Conference hosted by VirtualInvestorConferences.com, on March 6th, 2025

    DATE: March 6th
    TIME: 2:30 – 3:00 pm ET
    LINK: https://bit.ly/3DhRUj4

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates. 

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent Company Highlights

    • Recognized by The Banker as the Best Bank in Mexico, Most Innovative Bank in Latin America, and Top 200 Banks in Latin America in 2024
    • Recognized by World Finance as the Best Retail Bank and Best Corporate Governance in Mexico in 2024
    • Recognized by Institutional Investor as the Most Honored Company, coupled with Best CEO, Best CFO, Best IRO, Best IR Team, Best IR program, Best ESG, Best Company Board of Directors, and Best Investor Day in 2024
    • Recognized by Global Finance as Best Bank in Mexico 2024 and Best SME Bank 2025
    • Recognized by Euromoney as Best Service-Domestic, Trade Finance in Mexico and Best Banks for SMEs in Mexico in 2024
    • Recognized by TAB Global as one of the 1000 World´s Largest and Strongest Banks in 2024
    • Silver winner at a worldwide level on the “HyperPersonalization” project in the category “Reimagining the Customer Experience” by Qorus-Infosys Finacle
    • Recognized by Best Place to Work 2024, while incorporating our CEO and our CHRO in their “Best CEOs and Best CHROs” list

    About [GRUPO FINANCIERO BANORTE]

    Grupo Financiero Banorte (GFNorte), is a leading financial institution in Mexico, with the largest business diversification and continuously seeking ways to innovate in the financial sector, offering a wide variety of traditional and digital products and services, through its broker dealer, annuities & insurance companies, retirement saving funds (afore), mutual funds, leasing and factoring company, warehousing and recently announcing the inclusion of a digital bank.

    Banorte is the second largest financial group in Mexico in terms of loan portfolio, the number two provider of loans to governments and the second largest bank in mortgage loans. In addition, the retirement fund administrator Afore XXI Banorte, of which GFNorte owns 50%, is the largest in the country in terms of assets under management.

    Banorte is the only commercial bank, among the six largest institutions, whose decisions are made locally without the influence of external parent companies, which has proven to be an advantage in adapting with agility to the changes and alternatives presented by the country.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    The MIL Network –

    March 7, 2025

  • MIL-OSI Africa: KCB Group and Bank of Kigali launch Pan-African Payment and Settlement System (PAPSS), enabling seamless and affordable cross-border payments across Africa

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

    CAIRO, Egypt, March 6, 2025/APO Group/ —

    The Pan-African Payment and Settlement System (PAPSS), launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has recorded a significant milestone in its journey towards enhancing financial integration and economic prosperity across Africa with the official launch of the platform by KCB Group in Kenya and Bank of Kigali in Rwanda.

    The launches, by the Bank of Kigali in Kigali on 26th February and KCB in Nairobi on 27th February, made the two banks the first in their respective countries to integrate the transformative system into their operations, underscoring their commitment to championing intra-African trade and supporting the efforts of the AfCFTA.

    KCB and Bank of Kigali customers will now be able to send and receive cross-border payments using PAPSS. The service is fully operational and accessible via the banks’ mobile applications and branch networks, enabling seamless transactions across African borders. With this launch, businesses and individuals can benefit from faster, more cost-effective, and secure payments without relying on correspondent banks or third-party currencies.

    Highlighting the benefits of PAPSS to customers of KCB and Bank of Kigali, Mike Ogbalu III, CEO of PAPSS, said, “The customers will experience faster, more cost-effective, and secure cross-border transactions from the comfort of their banks’ mobile applications or through their branches. Businesses can trade more freely and competitively by eliminating the need for correspondent banks outside the continent and removing dependencies on third-party currencies. This transformation is set to unlock new opportunities for trade and investment, allowing African SMEs to access broader markets and contribute to local economies.”

    Mr. Ogbalu III expressed deep gratitude to KCB and Bank of Kigali for their pioneering roles in adopting the PAPSS initiative and commended Paul Russo, KCB Group CEO, and Dr. Diane Karusisi, CEO of Bank of Kigali, “for their “visionary leadership and unwavering commitment”.

    He noted that the PAPSS network, which began in 2022 in a pilot phase across the West African Monetary Zone (WAMZ), had successfully grown to include 15 central banks, over 150 commercial banks, and 14 switches, adding that the current “expansion marks a significant stride toward our goal of connecting the entire continent, ensuring that every African citizen can benefit from seamless, cost-effective cross-border transactions”.

    “With only 16 per cent of Africa’s total trade occurring intra-regionally, the launch of PAPSS in Kenya and Rwanda is a significant step in unlocking the continent’s potential,” continued Mr. Ogbalu III. “We believe that this innovative financial market infrastructure will facilitate greater trade opportunities, economic growth, and financial empowerment between the Eastern African countries and the rest of Africa.”

    He called on other central and commercial banks in Eastern Africa to join the PAPSS family in order to play a pivotal role in the AfCFTA as it worked to build a more prosperous and unified Africa.

    Speaking on the milestone, KCB Group CEO, Paul Russo, said: “We want to play a bigger role in catalyzing trade and payments in Africa and beyond, leveraging our digital capabilities and regional footprint. Our entry into PAPSS aligns perfectly with our strategy of supporting economic growth in Kenya and across Africa by facilitating seamless financial transactions.”

    Dr. Diane Karusisi, CEO of Bank of Kigali, highlighted the significance of the partnership: “This system allows people to send money quickly. For example, if someone sends Rwandan francs from Rwanda, it can reach Ghana in their local currency. The system converts the currency to meet the local requirements. Entrepreneurs in Rwanda can now receive payments instantly in Rwandan francs or USD from any member country. This service is fast, affordable, and reliable.”

    MIL OSI Africa –

    March 7, 2025

  • MIL-OSI Russia: Financial news: Changes in regulation of the cash transportation market: results of the discussion of the Bank of Russia report

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    The professional community supports the introduction of additional measures to regulate the cash collection and transportation market. Most experts spoke in favor of creating equal conditions for all participants. These are results of the discussion report of the Bank of Russia.

    The participants in the discussion confirmed the points made inreport Problems: reduced availability of cash collection and transportation services in some regions, increased unfair competition and personnel shortages in the industry.

    The Bank of Russia intends to create conditions for attracting more companies to this market. In addition to banks, other organizations that transport cash are planned to be included in the regulatory perimeter. It is envisaged to maintain a register of such carriers. It is proposed to establish liability measures for organizations that will provide money transportation services but are not included in the register.

    These initiatives will help combat unfair competition and improve the availability of services, including in remote areas.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //vv. KBR.ru/Press/Event/? ID = 23431

    MIL OSI Russia News –

    March 7, 2025

  • MIL-OSI: ING publishes 2024 Annual Report on Form 20-F

    Source: GlobeNewswire (MIL-OSI)

    ING publishes 2024 Annual Report on Form 20-F

    ING filed today its Annual Report on Form 20-F for the year ended 31 December 2024 with the United States Securities and Exchange Commission (SEC). The 2024Form 20-F will be available on the ING website and can be downloaded from the SEC website (sec.gov) today. Shareholders or holders of ADRs can also request a hard copy of ING’s audited financial statements, free of charge, at www.ing.com/Investor-relations/Financial-performance/Annual-reports.htm.

    Note for editors

    For more on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr.

    ING PROFILE

    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of December 2023, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate.

    IMPORTANT LEGAL INFORMATION

    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2024 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non- compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

    This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

    Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

    Attachment

    • ING publishes 2024 Annual Report on 20F

    The MIL Network –

    March 7, 2025

  • MIL-OSI: Regula Increases Its Global User Base by 52% Amid Rising Identity Verification Demands

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., March 06, 2025 (GLOBE NEWSWIRE) — Regula, a global developer of forensic devices and identity verification (IDV) solutions, is now providing advanced IDV software technologies to 152 million online users worldwide. This new milestone marks an impressive growth of 52% compared to the previous year. Among the main drivers of wider IDV adoption, Regula points out the rising need for advanced anti-fraud solutions, regulatory shifts, and digital transformation initiatives.

    Countries with the most notable Regula’s client base increase, as up to the beginning of 2025

    The increasing adoption of Regula’s document and biometric verification solutions highlights a growing demand for secure and user-friendly IDV workflows in key sectors, including finance, e-commerce, government services, travel, and more. This strong year-to-year growth demonstrates that businesses are proactively adapting to the rapidly changing ID verification landscape with Regula’s complete IDV solution, which includes document authenticity checks, biometric verification, liveness detection, and deepfake prevention.

    Regional highlights

    From stricter KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations in North America and Europe to erupting digital identity initiatives in Asia to booming fintech services in Latin America and the Middle East, identity verification is becoming an essential part of digital interactions. Here’s how different markets are driving Regula’s IDV adoption growth.

    North America

    • Key drivers: Rising fraud incidents and threats (according to Regula’s survey,* 96% of US businesses faced identity fraud in 2024) plus regulatory pressure.
    • Country highlight: The US (+55%) – Increased adoption of AI-driven fraud prevention and stronger authentication in financial services and e-commerce.

    Europe

    • Key drivers: Stricter regulations (GDPR, AMLD), the European Digital Identity Wallet initiative, and fintech expansion.
    • Country highlights:
      • The UK (+122%) – Post-Brexit compliance shifts and growth in digital banking.
      • Germany (+123%) – Strong data privacy laws and high demand for authenticity checks in digital scenarios.

    META (Middle East, Türkiye, and Africa)

    • Key drivers: Digital government initiatives, fintech growth, and a push for AI-driven security.
    • Country highlight: The UAE (+112%) – Rapid adoption of digital identity verification solutions due to its ambitions to become a leader in AI, fintech, and smart city innovations.

    APAC (Asia Pacific)

    • Key drivers: Booming digital payments, financial inclusion efforts, and strong government support for digital identity solutions.
    • Country highlights:
      • Singapore (+102%) – A financial hub with widespread digital banking and government-backed digital ID systems like Singpass.
      • Australia (+188%) – AML regulations and age verification initiatives.

    Latin America

    • Key drivers: Explosive fintech growth, mobile banking expansion, and high fraud rates requiring stronger ID verification techniques.
    • Country highlights:
      • Mexico (+156%) – Rapid adoption of digital payments and financial services.
      • Colombia (+241%) – The fastest-growing market, driven by fintech expansion and government-led digital ID initiatives.

    “The growth across these markets is a direct response to regulatory developments, digital transformation efforts, and the increasing sophistication of fraud – all the factors that make identity verification paramount. As businesses and governments worldwide accelerate their adoption of digital solutions, they face the complex challenge of ensuring security and compliance while maintaining a low-effort user experience. Additionally, the ever-rising cyber and identity fraud threats have made advanced IDV not just a regulatory requirement but a fundamental business necessity. By leveraging our decades-long expertise in forensic level document and biometric verification, we deliver comprehensive, future-proof solutions and help our customers build secure and user-friendly IDV workflows,” says Henry Patishman, Executive VP of Identity Verification Solutions at Regula.

    No compromise on security, efficiency, or compliance

    To help businesses and government institutions fight identity fraud effectively, Regula offers a complete IDV solution, comprising Regula Document Reader SDK and Regula Face SDK. This on-premise software performs extensive document and biometric authenticity checks, enables data cross-validation to spot discrepancies that might indicate fraud, and ensures sensitive personal data privacy.

    With more than 14,800 identity document templates from 251 countries and territories, Regula provides businesses with the industry’s most comprehensive ID template database. This asset allows for accurate identity verification regardless of the provided document, which is especially important for financial institutions, travel companies, and global businesses.

    Regula’s ID verification software is fully compatible with most third-party document readers, allowing organizations to adopt advanced offline ID verification without investing in new hardware.

    Also, Regula’s IDV technologies are inherently future-ready, supporting emerging standards such as ISO/IEC 39794-5 for biometric passport verification and Digital Travel Credentials (DTCs) aimed at streamlining travel and border crossing.

    Regula’s hardware and software solutions are trusted by more than 1,000 organizations all over the world. Among them:

    • UBS, the world’s largest private bank, has implemented a robust customer onboarding system powered by Regula’s comprehensive ID verification technologies.
    • Checkport, a Swiss aviation security provider, utilizes Regula’s identity verification solutions to enhance passenger screening and security protocols.
    • Pearson VUE, a global leader in online testing, relies on Regula to authenticate candidate identities for high-stakes remote exams.

    To learn more about Regula’s technologies and offerings, please visit Regula’s website.

    *The research was initiated by Regula and conducted by Sapio Research in August 2024 using an online survey of 575 business decision-makers across the Financial Services (including Traditional Banking and Fintech), Crypto, Technology, Telecommunications, Aviation, Healthcare, and Law Enforcement sectors. The respondent geography included Germany, Mexico, the UAE, the US, and Singapore. Find more insights on deepfake fraud in the survey report.

    About Regula

    Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the most comprehensive library of document templates in the world, we create breakthrough technologies for document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed. Regula has been repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

    Learn more at www.regulaforensics.com.

    Contact:
    Kristina – ks@regulaforensics.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47df2109-e416-4f49-a77f-7a950ba1d8c1

    The MIL Network –

    March 7, 2025

  • MIL-OSI: Tindeco Financial Services AG Awarded “Best Wealth Management Automation Solution” by Global Private Banker

    Source: GlobeNewswire (MIL-OSI)

    ZUG, Switzerland, March 06, 2025 (GLOBE NEWSWIRE) — Tindeco Financial Services AG, located at Gotthardstrasse 20, 6300 Zug, Switzerland, is proud to announce that it has been honored with the “Best Wealth Management Automation Solution” award by Global Private Banker. This prestigious accolade recognizes Tindeco’s revolutionary end-to-end technology that is transforming the way asset and wealth managers operate.

    Tindeco’s innovative platform empowers wealth and asset managers to design, test, implement, and run systematic investment strategies on a highly automated basis. The solution delivers three key benefits:

    • Unparalleled Scalability: Scale businesses to previously unimaginable levels, eliminating costs and enabling growth without additional expenses.
    • Custom Investment Solutions at Scale: Automation delivers highly customizable, value-added strategies, democratizing access to bespoke portfolios.
    • Rapid Innovation with Tindeco Strategy Designer: A unique no-code, drag-and-drop interface integrates analytics, data, and calculation engines from Tindeco and its partner ecosystem, allowing swift development and deployment of systematic strategies that can be supported by our AI Co-pilot.

    Moreover, managers can choose which steps or workflows to automate while tailoring other processes for their custom requirements, maintaining hands-on control where oversight is desired.

    Tindeco’s platform also incorporates a robust compliance rules engine to ensure portfolios remain compliant, with automated rebalancing when rules are breached. Its Order Management System (OMS) can send orders to FIX venues or integrate with existing systems, providing connectivity without replacing current infrastructure.

    About Tindeco Financial Services AG

    Tindeco Financial Services AG is a technology firm offering disruptive technology to transform the asset and wealth management industries. Founded in 2010 by seasoned investment professionals from banks, asset managers, and quantitative trading firms, Tindeco has developed a cloud‑based platform that empowers managers to rapidly design, test, and deploy custom investment strategies at scale and manage them on a highly automated basis.

    Headquartered in Switzerland, Tindeco has been recognized as one of the world’s 100 most innovative WealthTech companies (FinTech Global, 2020-2024).

    Media Contact:
    Samuel Mueller
    Chief of Staff
    Tindeco Financial Services AG
    Gotthardstrasse 20, 6300 Zug, Switzerland
    info@tindecofs.com

    For more information, please visit www.tindecofs.com

    The MIL Network –

    March 7, 2025

  • MIL-OSI Africa: ARISE IIP secures $450 million Afreximbank facility for industrial parks, Special Economic Zones development

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

    Download logo

    In a significant move aimed at boosting industrial development across Africa, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) signed a US$450 million global credit facility with ARISE IIP, the leading pan-African developer and operator of world-class industrial parks. This financing will support the development of industrial parks and Special Economic Zones (SEZ), while also providing crucial trade finance support to businesses operating within the ARISE IIP ecosystem. 

    The US$ 450 million, granted in the context of Afreximbank’s strategic objective of promoting, facilitating, and supporting Africa’s industrialisation ecosystems, is part of a proposed US$ 800-million facility to support ARISE IIP in developing Industrial Parks (IPs) and SEZs in such countries as Nigeria, Cote d’Ivoire, Chad, Kenya, Democratic Republic of Congo (DRC) and Malawi, among others. 

    Under the terms of the facility agreement, ARISE IIP will deploy US$ 300 million to finance working capital requirements for its operating Industrial Parks (GDIZ-Benin, PIA-Togo, LAHAM TCHAD-Chad, PEIA-Cote d’Ivoire and BSEZ-Rwanda) and for capital expenditures for the development of new industrial parks in DRC, Kenya, Chad, Nigeria and Cote d’Ivoire. 

    ARISE IIP will deploy the remaining US$ 150 million to develop an industrial park in Lilongwe, Malawi, and as trade finance for the activities of its export trading company in Malawi under Afreximbank’s Export Agriculture for Food Security initiative. 

    Signing the agreement on behalf of ARISE IIP was Arvind Arora, the Chief Treasury Officer, while Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, signed on behalf of Afreximbank. 

    Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank said: “The facility reflects Afreximbank’s ongoing commitment to mobilising financial and technical resources towards the promotion of industrialisation across Africa. This is our way of supporting value addition and structural transformation of African economies. We remain eager to collaborate with key stakeholders to build trusted partnerships and to industrialise African countries. Afreximbank strongly believes that IPs and SEZs are veritable tools that Africa can deploy to fast-track industrial infrastructure development and to promote intra-African trade and export development. With ARISE IIP as an established developer and operator of IPs and SEZs on the continent, we are confident that this facility will contribute to supporting the continental industrialisation agenda.” 

    Arvind Arora, Chief Treasury Officer of ARISE IIP remarked: “The US$450 million facility represents a major step forward in supporting Africa’s industrialisation efforts. This financing covers critical working capital and capital expenditure needs across various countries, addressing the diverse requirements for industrial development. Africa’s infrastructure investment gap, currently exceeding US$100 billion annually, significantly impacts the continent’s living conditions and its global competitiveness. At ARISE IIP, we are committed to working with strategic partners around the world to bridge this gap and accelerate industrialisation across the continent.” 

    The development of the new IPs and SEZs, along with the expansion of activities in the existing IPs, is expected to result in the attraction of 230 tenants, bringing in an estimated investment of US$ 1.7 billion over the next five years, while total exports from the new IPs and SEZs, once in operation, would reach US$ 5 billion over the five-year period, with domestically-sourced goods and services reaching US$ 3.4 billion. 

    In addition, the new investments in the IPs and SEZs are expected to contribute to the creation of 32,000 direct jobs and 138,000 in-direct jobs. 

    Afreximbank has been working with ARISE IIP as a strategic partner, focusing on industrialisation initiatives across Africa. The collaboration has seen the Bank and Arise working together on various projects including a USD 5 Billion Africa Textile Renaissance Plan, which intends to create 500,000 MT of African cotton transformation capacity and 500,000 jobs. 

    The Fund for Export Development in Africa (FEDA), Afreximbank’s development impact investment arm, invested USD 300 million in the latest fundraising round, which concluded in October 2024. During this round, Arise IIP raised a total of USD 443 million. 

    Distributed by APO Group on behalf of Afreximbank.

    Contact details: 
    Vincent Musumba 
    Manager, Communications and Events (Media Relations) – Afreximbank 
    press@afreximbank.com   

    Audrey Mebaley 
    Global Head of communications – Arise IIP 
    audrey.mebaley@arisenet.com   

    About Afreximbank: 
    African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and contingencies stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt. www.Afreximbank.com  

    About FEDA (Fund for Export Development in Africa): 
    The Fund for Export Development in Africa (“FEDA”) (https://apo-opa.co/3F2Rttw) is the impact investment subsidiary of the African Export-Import Bank (“Afreximbank” or the “Bank”) set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the Trade sector in Africa. 

    FEDA pursues a multi-sector investment strategy along the intra-African trade, value-added export development, and manufacturing value chain which includes financial services, technology, consumer and retail goods, manufacturing, transport & logistics, agribusiness, as well as ancillary trade enabling infrastructure such as industrial parks. www.FEDAGroup.org 

    About ARISE IIP: 
    ARISE Integrated Industrial Platforms (ARISE IIP) (https://apo-opa.co/43vSJzc) est un développeur et opérateur panafricain de parcs industriels de classe mondiale. Arise IIP identifie des opportunités dans les chaînes de valeur commerciales et industrielles à travers l’Afrique, conçoit, finance, construit et opère l’infrastructure nécessaire, jouant un rôle catalyseur pour soutenir les pays dans leur transition vers une économie industrielle. Animé par la recherche de la croissance verte l’ambition de Arise IIP est d’accompagner au développement du potentiel industriel du continent tout en neutralisant ses émissions de carbone et son impact climatique. ARISE IIP est actuellement présent dans 12 pays, dont le Bénin (GDIZ), le Togo (PIA), le Gabon (GSEZ), la Côte d’Ivoire (ZIC), le Nigéria (IPRFZ), la République du Congo (PIC), la République Démocratique du Congo (CIP), la Sierra Leone (SIZ), le Malawi (MIP), le Rwanda (BSEZ), le Tchad et le Cameroun. www.ARISEIIP.com 

    MIL OSI Africa –

    March 7, 2025

  • MIL-OSI United Kingdom: Joint statement between Prime Minister Keir Starmer and Taoiseach Micheál Martin: 6 March 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    Joint statement between Prime Minister Keir Starmer and Taoiseach Micheál Martin: 6 March 2025

    Joint statement between Prime Minister Keir Starmer and Taoiseach Micheál Martin following UK-Ireland Summit.

    UK-Ireland 2030 Joint Statement

    1. This Joint Statement represents the starting point for a strengthened relationship between the UK and Ireland, informed by our co-guarantorship of the Good Friday Agreement, and to be taken forward through an ambitious programme of co-operation between our two countries through to 2030.

    2. The time has come to commit anew to delivering on the promise of our unique partnership to the benefit of current and future generations living across these islands. 

    3. Our renewed programme of co-operation will be taken forward in a spirit of respect and affinity, and by a shared ambition to reach the potential of our partnership across our islands, recognising that, in a changing world beyond our shores, the benefits and significance of a stronger and more settled relationship between our two countries have never been greater.

    The UK and Ireland working together at home and across the globe

    1. In a challenging geo-political and international security environment, Ireland and the UK confirm our commitment to the global multilateral system and international law as the foundations on which all our international engagement and partnerships are built.

    2. Building on these foundations, we will work together to strengthen international institutions for peace, promote conflict prevention, peace-building, sustainable development and climate action internationally.  Today, we have agreed in particular to collaborate on a strategic approach to the United Nations’ Peacebuilding Architecture Review and the World Bank’s Fragility, Conflict, Violence (FCV) Strategy. We also agree to collaborate on the Women, Peace and Security agenda and to pilot a joint lesson-sharing from the Northern Ireland peace process in an agreed priority country.

    3. We will support this intensification of our co-operation on foreign and security policy issues through annual political consultations.

    4. Continuing to ensure the safety and security of the people who live in Ireland and the United Kingdom is a priority we share.

    5. National resilience remains a priority for both of us.  We will strengthen co-operation and information sharing on emergency planning to best protect our peoples across these islands. 

    6. We will strengthen our co-operation in the area of maritime security, with a particular focus on critical undersea infrastructure, which will require greater international co-operation, including closer co-operation between Ireland and the UK.

    7. We value our good working relationship at an operational level on cyber security and will continue to co-operate to ensure that the sharing of information and best practices contribute to higher levels of cyber security across both countries. We will also work to develop approaches that benefit both countries particularly in the areas of skills development, cyber hygiene awareness and research projects.

    8. Since 2015, the UK and Ireland have cooperated on defence on the basis of a Memorandum of Understanding. We will pursue implementation of all aspects of that agreement, particularly in the areas of military training and education. To reflect the rebuilding and strengthening of our partnership, today we agree to review and update the Memorandum of Understanding on Defence by our next Summit in this series.

    9. We will continue to develop these areas of work, including through our structured security dialogue at senior official level.

    10. We will strengthen existing co-operation on criminal, civil and family law matters and exchange expertise on justice systems challenges, as well as collaborating on the rule of law and its promotion overseas. We will continue to work together to tackle threats to safety online.

    Ensuring a strategic and efficient approach to our shared maritime space to mobilise investment, support a healthy marine environment and provide clean energy for our islands

    1. We recognise the critical importance of the Celtic and Irish Seas and are committed to working together to harness their potential by deepening co-operation on offshore energy and interconnection, to help ensure our collective energy security as part of the green transition to net zero.

    2. Our countries are uniquely linked, not least through shared energy infrastructure and the Single Electricity Market (SEM) on the island of Ireland. This means we share common long-term challenges, including the need for secure, competitive, and sustainable sources of energy.

    3. We welcome recent progress on closer working between our countries in this regard, including through our two bilateral Memoranda of Understanding, and the opportunity for more formal co-operation between British and Irish system operators (EirGrid, Gas Networks Ireland, National Energy System Operator and National Gas).

    4. In order to meet our ambitious decarbonisation targets, we have agreed today to work together to mobilise investment into strategic infrastructure in the Irish and Celtic Seas by establishing frameworks to guide private investment and removing barriers to trade and investment.

    5. In this regard, we have agreed that our respective maritime policy, licensing and regulatory bodies will work together to establish co-operation in relation to data collection and usage, to continue to improve the management of the maritime area in the Irish and Celtic Seas through robust marine planning that includes a clear focus on our shared marine environment.

    6. We have also agreed to undertake new joint initiatives on mapping the sea basin to improve interoperability and resilience in UK and Irish waters, and to deepen existing co-operation on maritime decarbonisation, including on our joint efforts to establish green maritime corridors. 

    7. We will also broaden our existing Energy transition MoU to include industrial decarbonisation; knowledge sharing and exchanging best practices around retrofitting of homes and Community Benefit Funds; as well as formalising a staff exchange programme between UK and Ireland energy departments and agencies.

    8. Due to its geography, engineering expertise and interconnection to both Ireland and Great Britain, Northern Ireland can benefit from and be at the forefront of the clean energy transition. Co-operation between governments on infrastructure development will be key in both enabling Northern Ireland to have a renewable generation capacity of 3,550 MW by 2030 in order to deliver the target of 80% of electricity consumption from renewable sources, as well as supporting the Northern Ireland Executive’s ambition for 1GW of offshore wind from 2030 and Ireland’s ambition of at least 5GW of offshore wind by 2030, including through developing and supporting an all-island supply chain.

    9. Through our continuing co-operation we can act coherently and strategically, developing and sharing research and technical innovation to address our shared challenges, which in turn will deliver significant economic and social benefits to communities across our islands.

    Agile, open economies working together to attract investment, innovate from knowledge and accelerate growth

    1. The UK and Ireland are particularly close economic partners with a bilateral trade relationship worth approximately 100 billion euros annually. Ireland is the UK’s 6th largest trading partner and the UK is Ireland’s second largest trading partner and we are committed to building on these ties in order to attract new investment and accelerate economic growth across our two countries.

    2. Today we welcome substantial new investment announcements across a range of sectors including Digital, AI and Technology that are testimony to continued confidence in our economies and to the importance of our business and trading bilateral relationship. These commitments to invest will bring new jobs and opportunities to local communities and help drive up economic growth.

    3. The UK and Ireland have a longstanding partnership in sharing knowledge and experience in progressing infrastructure projects, and we share an ambition to accelerate the delivery of sustainable and resilient infrastructure to drive economic growth, enable new forms of economic activity, accelerate the transition to Net Zero by 2050, and support the delivery of housing and high-quality public services over the next decade.  Our countries and businesses are investing heavily in achieving this ambition but also face common challenges, including in relation to capacity and productivity. We have strong existing collaborations in the transport, housing and energy sectors, and today have agreed a new Framework for Co-operation to support infrastructure delivery to deepen these partnerships and extend them to further areas of mutual interest, including digital and modern methods of construction technologies.

    4. Today, we also reaffirm our support to small business in both countries and commit to working together to establish an SME Dialogue focused on sharing good practices in nurturing growth and productivity amongst SMEs to maximise commercial opportunities.

    5. We will also establish an Economic Security Exchange to share good practices and experiences, and develop common understandings in key areas for the economic security and prosperity of our two nations.

    6. The UK and Ireland share a close bilateral relationship in science, innovation and technology and commit to building on this through our collaboration within the current Horizon European Research and Innovation Framework Programme, including encouraging national contact points to work closely together. We agree to convene regular meetings between UKRI and Research Ireland to discuss issues of mutual interest and monitor and identify multilateral and bilateral opportunities.

    7. In early 2024, we launched the research Co-Centre for Climate, Biodiversity & Water, seeking to deliver solutions to the pressing challenges posed by climate change, biodiversity decline, and water degradation; and the Co-Centre for Sustainable Food Systems, seeking to drive societal and political change in food system transformation and transition to climate neutrality by 2050. Following the launch of these Co-Centres, UKRI and Research Ireland will work together and with the Northern Ireland Executive to monitor progress and identify future opportunities to bring together researchers and innovators across the UK and Ireland.

    Developing the deep ties between our people and cultures

    1. We recognise the unique ability of arts, culture and sport to forge and foster ties between people across these islands. 

    2. We value the extraordinary influence and contribution of British and Irish cultures and heritages to the artistic and cultural wealth of the public realm and creative industries and institutions in both our countries. In recognition of this, today, we agree to establish a strategic partnership to deepen and amplify co-operation between our leading cultural institutions and to support wider public engagement with the contemporary culture and heritage of both our countries. Over the coming five years, this will comprise a range of measures to support collaborations in programming, professional exchange, research and policy, and an annual joint meeting of our leading cultural institutions each autumn.

    3. We look forward to our joint hosting of the EURO2028 Men’s Football Championship and the 2030 T20 Men’s Cricket World Cup and will work to ensure that both tournaments are enjoyed across these islands. We will explore future co-hosting opportunities in the area of sports.

    4. We recognise that to reach the potential of our partnership across these islands, we need to understand and respond to the aspirations and views of young people. Today, we have agreed to establish an Ireland-UK Youth Forum to bring together young people across these islands on an annual basis to discuss issues of importance to them and to make recommendations about how they can be addressed for consideration by both our governments.

    5. In order to build stronger connectivity amongst our children and young people, we will also encourage greater co-operation and contact between our schools and education systems. This will include areas such as early years learning and provision, social mobility, opportunity and inclusion; special education provision; curriculum and assessment reform; teacher professional development; and integrated education.

    6. We will promote greater understanding of educational opportunities for full-time students through improved knowledge, guidance and information using higher education entrance systems.

    7. The uniquely rich and dynamic connections between people across these islands are supported and made possible by our long-standing Common Travel Area arrangement.  We remain firmly committed to working together to protect the integrity and security of the Common Travel Area. Recognising also the importance of the Common Travel Area in facilitating the daily lives of citizens across these islands, we will work together to minimise barriers to work or travel for those who benefit from it.

    8. Underpinning our co-operation is our shared ambition of a more reconciled, peaceful and prosperous Northern Ireland.  In progressing our co-operation across the board, we will ensure that our partnership includes and benefits Northern Ireland. We commit to ensure the successful delivery of the 2021-2027 PeacePlus programme and are agreed in principle to a successor programme.

    9. We agree to establish a UK-Ireland 2030 Steering Group led by the UK Cabinet Office and Department of the Taoiseach in order to take forward the range of commitments we are making today. Together we will ensure this complements the institutions of the Good Friday Agreement and their crucial role at the heart of our essential and unique relationship.

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    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

    March 7, 2025

  • MIL-OSI Economics: RBI imposes monetary penalty on Vanchinad Finance Pvt. Ltd., Ernakulam, Kerala

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated March 03, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Vanchinad Finance Pvt. Ltd., Ernakulam, Kerala (the company) for non-compliance with certain provisions of ‘Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016’ read with ‘Master Direction – Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions, 2023’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

    The correspondence pertaining to the intimation of declaration of an interim dividend to parent company revealed, inter alia, non-compliance with RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia that the following charge against the company was sustained, warranting imposition of monetary penalty:

    The company had declared dividend in excess of the prescribed dividend payout ratio.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2319

    MIL OSI Economics –

    March 7, 2025

  • MIL-OSI: Currency Exchange International to Report its First Quarter 2025 Results on March 12, 2025, and Host Earnings Conference Call on March 13, 2025 at 8:30 AM EST

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 06, 2025 (GLOBE NEWSWIRE) —  Currency Exchange International, Corp. (the “Company”) (TSX: CXI; OTCBB: CURN), will report its financial results for the First Quarter of 2025 (ended January 31, 2025) after-market close on Wednesday, March 12, 2025. Following the release, Currency Exchange International Corp. will host an earnings conference call with management on Thursday March 13, 2025 at 8:30 a.m. EST, in which they will discuss these recent financial and operational results.

    Additionally, management and the board of directors will be hosting CXI’s 2025 Annual General Meeting of Shareholders at 3:00 p.m. (EST) in-person on Tuesday, March 25, 2025 at the KPMG – Toronto head office.

    CXI First Quarter 2025 – Financial Reporting and Conference Call Details:

    Financial Results Release

    The Company will release its financial results for the First Quarter 2025, after-market close on Wednesday, March 12, 2025.

    Earnings Conference Call Details

    The Company plans to host a conference call on Thursday, March 13, 2025 at 8:30am EST. To participate in or listen to the call, please dial the appropriate number:

    – Local (New York):         
    – Local (Toronto):             
    – Toll Free – North America: 
    – Conference ID Number:    		 (+1) 646 307 1865
    (+1) 289 514 5100
    (+1) 800 717 1738
    62088

    For those unavailable to participate, a recorded copy of the conference call will be available on the Company website.

    CXI Annual General Meeting of Shareholders:

    Currency Exchange International, Corp.’s Annual General Meeting of Shareholders will be held in-person on Tuesday,  March 25, 2025 at 3:00 p.m. (EST). 

    AGM Date and Time

    Tuesday, March 25, 2025 at 3:00 p.m. (EST). 

    Meeting Location
    KPMG – Conference Room 46026
    Bay Adelaide Centre
    333 Bay Street, Suite 4600
    Toronto, Ontario, M5H 2S5, Canada

    Questions
    Shareholders can submit their questions directly to the Investor Relations group through the contact us form by selecting the topic Investor Relations. As well, shareholders attending in person will be able to ask questions of management at the conclusion of the meeting.

    AGM Resources

    The following resources will be posted when available:

    1. 2024 Annual Report
    2. 2024 Management Information Circular
    3. 2025 Notice of Annual General Meeting of Shareholders
    4. 2024 Annual Information Form 
    5. Form of Proxy
    6. AGM Voting Results (Post meeting)

    About Currency Exchange International, Corp.

    Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, www.cxifx.com (“CXIFX”), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Group-owned retail branches, agent retail branches, and its e-commerce platform, order.ceifx.com (“OnlineFX”).

    The Group’s wholly-owned Canadian subsidiary, Exchange Bank of Canada, based in Toronto, Canada, provides foreign exchange and international payment services in Canada and select international foreign jurisdictions. Customers are served through the use of its proprietary software, www.ebcfx.com (“EBCFX”), related APIs to core banking platforms, and personal relationship managers.

    Contact Information
    For further information please contact:
    Bill Mitoulas
    Investor Relations
    (416) 479-9547
    Email: bill.mitoulas@cxifx.com
    Website: www.ceifx.com

    The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release.

    The MIL Network –

    March 7, 2025

  • MIL-OSI Economics: RBI to conduct 14-day Variable Rate Repo (VRR) auction under LAF on March 07, 2025

    Source: Reserve Bank of India

    On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on March 07, 2025, Friday, as under:

    Sl. No. Notified Amount
    (₹ crore)    		 Tenor
    (day)    		 Window Timing Date of Reversal
    1 50,000 14 11:00 AM to 11:30 AM March 21, 2025
    (Friday)

    2. The operational guidelines for the auction will be same as given in Reserve Bank’s Press Release 2021-2022/1572 dated January 20, 2022.

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2316

    MIL OSI Economics –

    March 7, 2025

  • MIL-OSI: Notice to Aktia Bank Plc’s Annual General Meeting 2025

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Stock Exchange Release
    6 March 2025 at 1.00 p.m.

    Notice to Aktia Bank Plc’s Annual General Meeting 2025

    Notice is hereby given to Aktia Bank Plc shareholders that the Annual General Meeting will be held on Thursday, 3 April 2025 at 4.00 p.m. at Pikku-Finlandia, address Karamzininranta 4, Helsinki. Persons who have registered for the meeting will be welcomed and voting sheets will be distributed from 3.00 p.m. onwards.

    Shareholders of Aktia Bank Plc can also exercise their voting rights by voting in advance. Instructions for advance voting are set out in section C of this notice to the Annual General Meeting.

    It is possible to follow the Annual General Meeting via webcast. Instructions on how to follow the webcast are available on the company’s website www.aktia.com/en/investors/corporate-governance/annual-general-meeting. It is not possible to ask questions, make counterproposals, make other interventions, or vote via webcast. Following the meeting via webcast shall not be considered as participation in the Annual General Meeting or as the exercise of shareholders’ rights.

    A. Matters to be discussed at the Annual General Meeting

    The agenda of the Annual General Meeting will be as follows:

    1.   Opening of the meeting

    2.   Calling the meeting to order

    3.   Election of persons to scrutinise the minutes and to supervise the counting of votes

    4.   Recording the legality of the meeting

    5.   Recording the attendance at the meeting and adoption of the list of votes

    6.   Presentation of the financial statements, consolidated financial statements, report by the Board of Directors and Auditor’s report for 2024

    CEO’s presentation.

    The company’s financial statements and Annual Report, including the report by the Board of Directors, sustainability report, the Auditor’s report and the assurance report on sustainability reporting, will be published no later than 13 March 2025, after which they are available on the company’s website at www.aktia.com.

    7.   Adoption of the financial statements and the consolidated financial statements

    The Board of Directors proposes that the Annual General Meeting adopts the financial statements. The company’s auditor has recommended adopting the financial statements.

    8.   Resolution on the use of the profit shown in the balance sheet and the payment of dividend

    The Board of Directors proposes that a dividend of EUR 0.82 per share shall be paid for the financial year 2024.

    Shareholders registered in the register of shareholders of the company maintained by Euroclear Finland Ltd on the record date for the dividend payment 7 April 2025 are entitled to the dividend. The Board of Directors proposes that the dividend shall be paid out on 14 April 2025 in accordance with the rules of Euroclear Finland Ltd.

    9.   Resolution on the discharge from liability of the members of the Board of Directors, the CEO and his deputy

    10.   Handling of the Remuneration Report of the governing bodies

    The Board of Directors proposes to the Annual General Meeting that the Remuneration Report for the company’s governing bodies be confirmed.

    The 2024 Remuneration Report of the company’s governing bodies will be published no later than 13 March 2025, after which it is available on the company’s website at www.aktia.com.

    11.   Resolution on remuneration for the members of the Board

    The Nomination Board proposes that the remuneration for the Board of Directors for the term be unchanged and determined as follows:

    • Chair, EUR 75,000 (2024: EUR 75,000)
    • Deputy Chair, EUR 50,000 (2024: EUR 50,000)
    • member, EUR 40,000 (2024: EUR 40,000)

    Annual remunerations for the Chairs of each Committee as well as meeting remunerations are proposed to be unchanged, meaning that it is proposed that the Chair of each Committee will further receive an annual remuneration of EUR 8,000. The proposed meeting remuneration for Board and Committee meetings is EUR 700 per attended meeting for each person (EUR 700 per attended meeting for each person in 2024). If participation in a board meeting requires travelling outside the board member’s country of residence, the remuneration for board meeting is EUR 1,400 per attended meeting for each person (EUR 1,400 per attended meeting for each person in 2024). The remuneration of the members of the Board is not treated as income forming basis for earnings-related pension. Compensation for travel and accommodation expenses as well as a daily allowance is paid in line with the Finnish Tax Administration’s guidelines and the travel instructions of the company.

    The Nomination Board proposes that approximately 40% of the annual remuneration (gross amount) shall be paid to the members in the form of Aktia shares. The company will on account of the Board members acquire Aktia shares on the market to the price that is formed through public trading or it will transfer the company’s own shares to the Board members and the rest of the annual remuneration payable is paid in cash. The shares are acquired or transferred during a two-week time period from the day following the company’s interim report for 1 January 2025–31 March 2025 is disclosed or as soon as possible in accordance with applicable legislation. If the remuneration can’t be paid in shares, it can be paid in cash entirely. The company will be responsible for all expenses and the possible transfer tax for acquiring or transferring the shares.

    12.   Resolution on the number of members of the Board of Directors

    The Shareholders’ Nomination Board proposes that the number of members of the Board of Directors be decreased from nine (9) to seven (7) members. However, should any of the candidates proposed under section 13 below not be able to attend the Board, the proposed number of Board members shall be decreased accordingly.

    13.   Election of members of the Board of Directors

    The Shareholders’ Nomination Board proposes that of the present members of the Board of Directors Joakim Frimodig, Carl Haglund, Maria Jerhamre Engström, Harri Lauslahti and Matts Rosenberg, based on their consent, shall be re-elected for a term continuing until the next Annual General Meeting has concluded. For more information on the members of the Board of Directors proposed to be re-elected, please see the company’s website at www.aktia.com. The Board members of Aktia Bank Ann Grevelius, Sari Pohjonen, Johannes Schulman and Lasse Svens have informed that they will not be available for re-election.

    The Shareholders’ Nomination Board also proposes that Hanne Katrama and Sari Somerkallio are elected as new members of the Board of Directors for the same term, based on their consent. Further information on the new Board members proposed to be elected have been attached to this notice and can be found on the company’s website at www.aktia.com closer to the company’s Annual General Meeting.

    Should any of the candidates presented above not be able to attend the Board, the available candidates are proposed to be elected accordingly.

    All the proposed persons are independent in relation to the company according to the definition of the Corporate Governance Code. Only Matts Rosenberg is not independent of a significant shareholder since he is the Chair of the board of RG Partners Oy, the largest shareholder (10.13%) of Aktia Bank. In addition, Rosenberg is the CEO of Rettig Oy Ab, which is the largest owner of RG Partners Oy.

    All the proposed persons have informed that they intend, if they are elected, to re-elect Matts Rosenberg amongst them as Chair of the Board of Directors and to elect Joakim Frimodig as Deputy Chair.

    14.   Resolution on the auditor’s and sustainability reporting assurance provider’s remuneration

    The Board of Directors proposes, based on the recommendation of the Board of Directors’ Audit Committee, that remuneration shall be paid to the auditor against the auditor’s reasonable invoice. The Board of Directors also proposes that remuneration shall be paid to the sustainability reporting assurance provider against a reasonable invoice for measures related to the assurance of sustainability reporting.

    15.   Determination of the number of auditors and sustainability reporting assurance providers

    The Board of Directors proposes, based on the recommendation of the Board of Directors’ Audit Committee, that the number of auditors and sustainability reporting assurance providers shall be one (1).

    16.   Election of the auditor and the sustainability reporting assurance provider

    The Board of Directors proposes, based on the recommendation of the Board of Directors’ Audit Committee, that KPMG Oy Ab, a firm of authorised public accountants, shall be elected as auditor, with Tiia Kataja, APA, as auditor-in-charge. The Board of Directors also proposes, based on the recommendation of the Board of Directors’ Audit Committee, that KPMG Oy Ab, an Authorised Sustainability Audit Firm, shall be elected as sustainability reporting assurance provider, with Tiia Kataja, Authorised Sustainability Auditor (ASA), as sustainability reporting assurance provider-in-charge. The auditor and the sustainability reporting assurance provider shall be elected for a term of office beginning when the Annual General Meeting 2025 has ended and continuing up until the Annual General Meeting 2026 has ended.

    17.   Authorising the Board of Directors to decide on one or more issues of shares or special rights entitling to shares referred to in Chapter 10 of the Finnish Companies Act

    The Board of Directors proposes that the General Meeting authorises the Board of Directors to issue shares, or special rights entitling to shares referred to in Chapter 10 of the Companies Act, as follows:

    A maximum amount of 7,316,000 shares can be issued based on this authorisation, which corresponds to approximately 10% of all shares in the company.

    The Board of Directors is authorised to decide on all terms for issues of shares and of special rights entitling to shares. The authorisation concerns the issuance of new shares. Issues of shares or of special rights entitling to shares can be carried out in deviation from the shareholders’ pre-emptive subscription right to the company’s shares (directed share issue).

    The Board of Directors has the right to use this authorisation, among other things, to strengthen the company’s capital base, for the company’s share-based incentive scheme, acquisitions and/or other corporate transactions.

    The authorisation is effective for 18 months from the resolution by the General Meeting and revokes the issue authorisation given by the Annual General Meeting on 3 April 2024.

    18.   Authorising the Board of Directors to decide on the acquisition of the company’s own shares

    The Board of Directors proposes that the Annual General Meeting authorises the Board of Directors to decide on the acquisition of 500,000 shares at a maximum, corresponding to approximately 0.7% of the total number of shares in the company.

    The company’s own shares may be acquired in one or several tranches using the unrestricted equity of the company.

    The company’s own shares may be acquired at a price formed in public trading on the date of the acquisition, or at a price otherwise prevailing on the market. The company’s own shares may be acquired in a proportion other than that of the shares held by the shareholders (directed acquisition).

    The company’s own shares may be acquired to be used in the company’s share-based incentive schemes and/or for the remuneration of the members of the Board of Directors, for further transfer, retention, or cancellation.

    The Board of Directors is authorised to decide on all additional terms concerning the acquisition of the company’s own shares.

    The authorisation is effective for 18 months from the resolution by the General Meeting and revokes the authorisation to purchase the company’s own shares given by the Annual General Meeting on 3 April 2024.

    19.   Authorising the Board of Directors to decide to divest the company’s own shares

    The Board of Directors proposes that the Annual General Meeting authorises the Board of Directors to decide on divesting own shares held by the company, as follows.

    Based on the authorisation, a maximum of 500,000 shares may be divested.

    Board of Directors is authorised to decide on all additional terms concerning the divestment of the company’s own shares. The divestment of the company’s own shares can be carried out in deviation from the shareholders’ pre-emptive subscription rights to shares in the company (directed share issue), e.g., for implementing the company’s incentive programs and for remuneration, including divesting the company’s own shares to board members for payment of board remuneration.

    The authorisation is effective for 18 months from the resolution by the General Meeting and revokes the authorisation to divest the company’s own shares given by the Annual General Meeting on 3 April 2024.

    20.   Closing of the meeting

    B. Documents of the Annual General Meeting

    The proposals for the decisions on the matters on the agenda of the Annual General Meeting as well as this notice are available on Aktia Bank Plc’s website www.aktia.com. Aktia Bank Plc’s Annual Report including the company’s financial statements, the report by the Board of Directors (including the sustainability report), the Auditor’s report and the assurance report on sustainability reporting, and the 2024 Remuneration Report of the governing bodies, will be available on the above-mentioned website on 13 March 2025, at the latest. The minutes of the Annual General Meeting will be available on the above-mentioned website on 17 April 2025, at the latest.

    C. Instructions for the participants in the Annual General Meeting

    1. Shareholders registered in the shareholders’ register

    Each shareholder, who is registered in the company’s register of shareholders maintained by Euroclear Finland Ltd as at 24 March 2025, has the right to participate in the Annual General Meeting. A shareholder whose shares are registered in their personal Finnish book-entry account is registered in the company’s register of shareholders. Any changes in the ownership of shares that have occurred after the record date of the Annual General Meeting do not affect the right to participate in the Annual General Meeting nor the number of votes of the shareholder.

    Registration for the Annual General Meeting starts on 7 March 2025 at 10.00 a.m. Shareholders who are registered in the company’s register of shareholders and who wish to participate in the Annual General Meeting must register for the General Meeting by 4.00 p.m. on 27 March 2025, at the latest. Participants can register for the Annual General Meeting:

    a) through the company’s website www.aktia.com/en/investors/corporate-governance/annual-general-meeting. Electronic registration requires strong identification of the shareholder or his/her legal representative or proxy with a Finnish, Swedish or Danish bank ID or mobile certificate;

    b) by e-mail to Innovatics Ltd at agm@innovatics.fi. A shareholder registering by e-mail shall include in the message the registration form available on the company’s website www.aktia.com/en/investors/corporate-governance/annual-general-meeting and a possible advance voting form or equivalent information; or

    c) by mail to Innovatics Ltd, Annual General Meeting / Aktia Bank Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki. A shareholder registering by mail shall include in the message the registration form available on the company’s website www.aktia.com/en/investors/corporate-governance/annual-general-meeting and a possible advance voting form or equivalent information.

    When registering, please provide the necessary information, such as the shareholder’s name, date of birth or business ID, contact details, the name of any assistant or proxy representative and the proxy’s date of birth. The personal data provided by shareholders to Aktia Bank Plc or Innovatics Ltd will only be used in connection with the Annual General Meeting and the processing of the necessary registrations related thereto.

    The shareholder, his/her representative or proxy must be able to prove his/her identity and/or right of representation at the meeting. Further information on the use of proxy and power of attorney are described below in section C 3.

    Further information on registration and advance voting is available by telephone during the registration period of the Annual General Meeting by calling at +358 10 2818 909 on weekdays from 9.00 a.m. to 12.00 p.m. and from 1.00 p.m. to 4.00 p.m.

    2. Owners of nominee registered shares

    A holder of nominee registered shares has the right to participate in the Annual General Meeting by virtue of such shares, based on which he/she on the record date of the Annual General Meeting 24 March 2025 would be entitled to be registered in the company’s register of shareholders maintained by Euroclear Finland Ltd. Participation also requires that the shareholder has been entered into the company’s temporary register of shareholders, maintained by Euroclear Finland Ltd, on the basis of such shares by 31 March 2025 at 10.00 a.m. at the latest. In the case of nominee-registered shares, this is considered registration for the Annual General Meeting. Changes in the shareholding after the record date of the Annual General Meeting do not affect the right to participate in the Annual General Meeting or the shareholder’s voting rights.

    The holder of nominee-registered shares is advised to request well in advance the necessary instructions from his/her custodian bank regarding temporary registration in the register of shareholders, the issuing of proxy documents and voting instructions, registration, and attendance at the Annual General Meeting and, if necessary, advance voting. The account manager of the custodian bank shall register the holder of nominee-registered shares attending the Annual General Meeting in the temporary register of shareholders of the company by the aforementioned date and time at the latest and, if necessary, arrange for advance voting on behalf of the holder of nominee-registered shares before the end of the registration period for holders of nominee-registered shares.

    3. Proxy representatives and powers of attorney

    A shareholder may attend the Annual General Meeting and exercise his/her rights there through a proxy representative. A shareholder’s proxy may also elect to vote in advance as described in this notice if he/she so wishes. The proxy representative shall authenticate to the electronic registration service and advance voting personally with strong authentication, after which he/she will be able to register and vote in advance on behalf of the shareholder that he/she represents. The shareholder’s proxy must present dated proxy documents, or otherwise in a reliable manner prove that he/she is entitled to represent the shareholder at the Annual General Meeting. You can prove your right to representation by using the Suomi.fi e-Authorisations service available in the electronic registration service.

    Model proxy documents and voting instructions are available on the company’s website www.aktia.com/en/investors/corporate-governance/annual-general-meeting. If a shareholder participates in the Annual General Meeting through several proxies representing the shareholder with shares held in different securities accounts, the shares on the basis of which each proxy represents the shareholder shall be identified in connection with the registration.

    Proxy documents are requested to be submitted preferably as an attachment with the electronic registration or alternatively by mail to Innovatics Ltd, Annual General Meeting / Aktia Bank Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki or by e-mail to agm@innovatics.fi before the end of the registration period. In addition to submitting the proxy documents, the shareholder or his/her proxy shall register for the Annual General Meeting in the manner described above in this notice.

    4. Advance voting

    A shareholder whose shares in the company are registered in his/her personal Finnish book-entry account may vote in advance between 7 March 2025 and 27 March 2025 on certain items on the agenda of the Annual General Meeting

    a) via the company’s website at www.aktia.com/en/investors/corporate-governance/annual-general-meeting. Login to the service is done in the same way as for registration in section C.1 of this notice;

    b) by mail by submitting the advance voting form available on the company’s website or equivalent information to Innovatics Ltd at Innovatics Ltd, Annual General Meeting / Aktia Bank Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland; or

    c) by e-mail by submitting the advance voting form available on the company’s website or equivalent information to Innovatics Ltd by e-mail at agm@innovatics.fi.

    Advance votes must be received by the time the advance voting ends. The submission of votes by mail or e-mail before the end of the registration and advance voting period shall be considered registration for the Annual General Meeting, provided that it contains the abovementioned information required for registration.

    A shareholder who has voted in advance cannot exercise the right to ask questions or demand a vote under the Finnish Companies Act unless he/she attends the Annual General Meeting in person or by proxy at the meeting venue.

    With respect to nominee registered shareholders, the advance voting is carried out by the account manager. The account manager may vote in advance on behalf of the holders of nominee-registered shares whom he/she represents in accordance with the voting instructions given by them during the registration period set for the nominee-registered shareholders.

    Proposals for resolution that are subject to advance voting are deemed to have been made at the Annual General Meeting without any changes.

    5. Further instructions for attendees of the Annual General Meeting

    The official language of the meeting is Swedish, but the meeting will be partly conducted also in Finnish. Shareholders may address the meeting and present questions in both Swedish and Finnish. There is no simultaneous interpretation at the meeting.

    Shareholders present at the Annual General Meeting have the right to present questions about the matters discussed at the meeting in accordance with Chapter 5, Section 25 of the Finnish Companies Act.

    Changes in the shareholding after the record date of the Annual General Meeting do not affect the right to participate in the Annual General Meeting or the shareholder’s voting rights.

    Shareholders are welcome to participate in coffee service arranged after the meeting.

    On the date of this notice to the Annual General Meeting the total number of shares in Aktia Bank Plc is 73,161,696 shares, representing 73,161,696 votes. The company holds on the date of this notice a total number of 56,708 of its own shares. The shares held by the company on the record date of the Annual General Meeting do not entitle to vote at the Annual General Meeting.

    Helsinki, 6 March 2025

    AKTIA BANK PLC
    BOARD OF DIRECTORS

    Appendix 1: information on the proposed new members of the Board of Directors

    For more information, please contact:
    Lasse Svens, Chair of the Board, tel. +358 500 562 945
    Ari Syrjäläinen, General Counsel, tel. +358 10 247 6350

    Distribution:
    Nasdaq Helsinki Ltd
    Central media
    www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 31 December 2024 amounted to EUR 14.0 billion, and the balance sheet total was EUR 11.9 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    Attachment

    • Attachment_Information_on_proposed_new_Board_members_for_Aktia_Bank

    The MIL Network –

    March 7, 2025

  • MIL-OSI Africa: Islamic Corporation for the Development of the Private Sector (ICD) and Joint-Stock Commercial Bank “Turonbank” Strengthen Partnership to Support Private Sector Growth in Uzbekistan

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

    JEDDAH, Saudi Arabia, March 6, 2025/APO Group/ —

    • The Third Line: ICD and Turonbank announce a USD 30 million Islamic line of financing facility to bolster Uzbekistan’s private sector development.
    • Empowering Entrepreneurs: The new facility is designed to accelerate SME growth and foster economic development in Uzbekistan.
    • ​Strengthened Collaboration: This initiative reaffirms the long-standing partnership between ICD and Turonbank, aligning with ICD’s mission to support private sector growth.

    The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org) and Private Joint-Stock Bank “Turonbank” have taken a significant step to enhance Uzbekistan’s private sector development. A USD 30 million Islamic line of financing facility has been signed, marking a milestone in their collaborative efforts to support small and medium-sized enterprises (SMEs) and the broader economic landscape.

    This new financing facility, channeled through Turonbank, is dedicated to empowering private sector projects in Uzbekistan. It aims to provide entrepreneurs with vital financial resources to launch and expand their ventures, thereby driving sustainable economic growth and contributing to the nation’s economic resilience.

    Turonbank has been a trusted partner of ICD since 2017 and has previously received two line-of-financing facilities totaling USD 35 million. The newly proposed facility highlights the strength of their enduring partnership and underscores a shared commitment to fostering private sector development in Uzbekistan.

    This initiative is closely aligned with ICD’s Private Sector Development Strategy, which focuses on enabling economic dynamism and resilience by empowering SMEs and advancing financial inclusion.

    MIL OSI Africa –

    March 7, 2025

  • MIL-OSI Africa: Mining in Motion: Uniting Industry Leaders for a Sustainable Mining Future

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

    ACCRA, Ghana, March 6, 2025/APO Group/ —

    The inaugural Mining in Motion Summit (MiningInMotionSummit.com) – Ghana’s premier event bringing together small-scale gold miners, policymakers and global partners – takes place under the theme Sustainable Mining & Local Growth – Leveraging Resources for Global Impact. Taking place from June 2–4, 2025, at the Kempinski Hotel Gold Coast City in Accra, the event will feature high-level panel discussions, project showcases and exclusive networking opportunities, spotlighting lucrative prospects within Ghana’s mining sector.

    Global industry leaders and sustainability experts, including the World Bank, World Gold Council, the United Nations, the African Union and ECOWAS, will explore how responsible mining practices can drive economic growth, enhance community well-being and support global economic stability. Discussions will focus on how mining investments create high returns, generate employment and strengthen key industries connected to the sector.

    Ghana is prioritizing mining as a key driver of socioeconomic development. The country seeks to enhance the contribution of artisanal and small-scale gold mining (ASGM), in driving industry growth and economic expansion. The ASGM sector is a pillar of Ghana’s economy, generating over $5 billion (https://apo-opa.co/3F4IIPv) in export revenue in 2024 and accounting for 35% of the country’s total gold production. The sector supports over 1 million direct jobs and indirectly impacts 4 million people, making it one of Ghana’s largest employment sources. Mining in Motion will highlight Ghana’s success as a model for sustainable artisanal mining, emphasizing its role in economic stability and community development. Otumfuo Nana Osei Tutu II, King of the Ashanti Kingdom, will address the importance of traditional leadership in shaping the ASGM industry. The event will spotlight key topics within Ghana’s mining sector, including the newly established Gold Board which aims to maximize revenue from ASGM, responsible resource management and value addition.

    Apart from the contribution made by the ASGM sector alone, the role played by stakeholders across the entire mining value chain to GDP growth is immense. According to the International Monetary Fund (https://apo-opa.co/3XqoQwI), Ghana’s GDP is projected to grow by 1.5% in 2025, fueled by continued expansion in the mining sector. Research firm Deloitte predicts a 3% increase in Ghana’s gold output in 2025 compared to 2024 levels, a milestone that will cement the country’s role as a major gold exporter. To sustain this growth, the Ghanaian government has strengthened partnerships with global exploration and production firms and financial institutions, intensifying efforts to boost mineral exploration and production. Several major projects are set for commissioning in 2025 and 2026, including the 358,000 ounces per annum Cardinal Namdini Mine, the 325,000 ounces Ahafo North Project and the 163,000 ounces Black Volta Gold Project.

    As Ghana continues to expand its global mining footprint, Mining in Motion will highlight the industry’s contribution to economic growth, both locally and internationally. H.E. John Dramani Mahama, President of the Republic of Ghana, will present the country’s socioeconomic vision, showcasing key achievements in mining sector growth and sustainability initiatives.

    Industry leaders will examine the collaboration between large-scale mining companies and ASGM players, fostering synergies that drive sector-wide growth.

    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 MiningInMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org

    MIL OSI Africa –

    March 7, 2025

  • MIL-OSI Africa: Islamic Corporation for the Development of the Private Sector (ICD) and Joint-Stock Commercial Bank “Asia Alliance Bank” Strengthen Partnership to Support Private Sector Growth in Uzbekistan

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

    JEDDAH, Saudi Arabia, March 6, 2025/APO Group/ —

    • The Fourth Line: ICD and Asia Alliance Bank announce a USD 25 million Islamic line of financing facility to bolster Uzbekistan’s private sector development. 
    • Empowering Entrepreneurs: The new facility is designed to accelerate SME growth and foster economic development in Uzbekistan. 
    • Strengthened Collaboration: This initiative reaffirms the long-standing partnership between ICD and Asia Alliance Bank, aligning with ICD’s mission to support private sector growth. 

    The Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-PS.org) and Joint-Stock Commercial Bank “Asia Alliance Bank” have taken a significant step to enhance Uzbekistan’s private sector development. A USD 25 million Islamic line of financing facility has been signed, marking a milestone in their collaborative efforts to support small and medium-sized enterprises (SMEs) and the broader economic landscape. 

    This new financing facility, channeled through Asia Alliance Bank, is dedicated to empowering private sector projects in Uzbekistan. It aims to provide entrepreneurs with vital financial resources to launch and expand their ventures, thereby driving sustainable economic growth and contributing to the nation’s economic resilience. 

    Asia Alliance Bank has been a trusted partner of ICD since 2013 and has previously received three line-of-financing facilities totaling USD 30 million. The newly proposed facility highlights the strength of their enduring partnership and underscores a shared commitment to fostering private sector development in Uzbekistan. 

    This initiative is closely aligned with ICD’s Private Sector Development Strategy, which focuses on enabling economic dynamism and resilience by empowering SMEs and advancing financial inclusion. 

    MIL OSI Africa –

    March 6, 2025

  • MIL-OSI Europe: European Commission and EIB Group sign €2 billion guarantee under Ukraine Facility to support country’s reconstruction and resilience

    Source: European Investment Bank

    • The agreement further supports urgent recovery and reconstruction projects in Ukraine.
    • The financing will target critical infrastructure, including energy, transport, housing, water and heating, to sustain essential services and economic stability.
    • Part of the EU’s €50 billion Ukraine Facility, this investment supports Ukraine’s priorities: to build back better and advance its EU integration.
    • Additionally, an agreement signed between the EIB and the Government of Ukraine will deploy experts under the EIB’s JASPERS advisory programme to help accelerate the projects on the ground.

    The European Investment Bank (EIB) Group and the European Commission signed a guarantee agreement at the EIB Group Forum that will allow the EIB to invest at least €2 billion in urgent recovery and reconstruction efforts in Ukraine. Aligned with the Ukrainian government’s needs and priorities, this funding is part of the European Union’s €50 billion Ukraine Facility for the period 2024-2027. 

    The funds will support public sector operations across key sectors. Investments will focus on strengthening Ukraine’s energy networks, including energy grids, expanding hydropower and renewable energy production, and improving energy efficiency. They will also go toward modernising railways, improving urban public transport, and upgrading transport connectivity, including EU-Ukraine Solidarity Lanes and border crossing points along key export routes. In addition, the financing will help restore municipal infrastructure, such as water and heating systems, public lighting, as well schools, hospitals and higher education institutions. The first projects under this Ukraine Facility guarantee were announced during EIB President Nadia Calviño’s recent visit to Kyiv.

    To further support the implementation of EIB investments under the Ukraine Facility, the EIB and the government of Ukraine have also signed an agreement to deploy a team of advisory experts on the ground in Kyiv. This team will provide hands-on expertise to accelerate the preparation and execution of critical projects and strategic documents – starting with energy, transport and housing and expanding to other sectors, including Ukraine’s public investment management reform. This initiative is being delivered by EIB advisory through a €20 million JASPERS advisory package for Ukraine, jointly financed by the European Commission and the EIB’s EU for Ukraine advisory programme in 2024, ensuring targeted and effective support for the country’s recovery.

    EIB President Nadia Calviño said: “Ukraine’s security is the European Union’s security. We stand by the country. Today, we express that commitment once again with the signature of agreements with the European Commission and the Ukrainian government to step up our support. This will allow us to make crucial investments in the recovery of Ukraine’s critical infrastructure and key public services, reinforcing the country’s resilience and its path towards integration into the European Union.”

     “Ukraine’s recovery and reconstruction are at the heart of the Team Europe approach, and we are working together to ensure that vital investments reach the areas where they are needed most in Ukraine. This is not just about today. We are helping Ukraine build back better and lay the foundations for a stronger, more sustainable future within the EU,” added EIB Vice-President Teresa Czerwińska, who oversees the Bank’s operations in Ukraine.

    European Commissioner for Enlargement Marta Kos said: “This guarantee agreement with the EIB underscores the European Union’s important role in supporting Ukraine as it faces the fourth year of Russia’s brutal war of aggression. We will stand by Ukraine for as long as necessary and with the intensity required. This new guarantee will help Ukrainians rebuild their country. It will help restore water and heating systems, schools and hospitals.”

    European Commissioner for Economy and Productivity, Implementation and Simplification Valdis Dombrovskis said: “The European Commission and the EIB Group have been working hand in hand to provide crucial support to Ukraine since Russia began its brutal, full-scale invasion. Today, our commitment to Ukraine has never been stronger. With this €2 billion agreement, we are providing further support for Ukraine’s urgent recovery and reconstruction needs, which includes repairing critical infrastructure and ensuring essential public services are maintained. The EU’s support for Ukraine is, and will remain, steadfast.”

    Yuliia Svyrydenko, Ukraine’s First Deputy Prime Minister and Minister of Economy, said, “The European Union and its institutions, particularly the EIB, remain steadfast partners in Ukraine’s recovery. We are accelerating investment projects that address our most pressing strategic needs, ensuring rapid reconstruction and modernisation. Each project brings Ukraine closer to the EU, strengthening our resilience and integration into the European family. We also welcome the deployment of JASPERS advisory support on the ground, which will help ensure the efficient implementation of these critical investments.”

    Background information  

    The Ukraine Facility is the European Union’s financial assistance programme for Ukraine. During the 2024-2027 period, €50 billion will be allocated by the European Union to finance the state budget, stimulate investment and provide technical support in the implementation of the programme.

    The Guarantee Agreement signed today is covered by the Ukraine Investment Framework (UIF), as part of Ukraine Facility. The UIF is designed to attract public and private investments for the recovery and reconstruction of Ukraine. It is endowed with financial instruments totalling €9.3 billion, with €7.8 billion in loan guarantees and €1.5 billion in blended finance.

    The aim of the UIF is to mobilise €40 billion of investments for the recovery, reconstruction, and modernisation of Ukraine.

    The EIB in Ukraine 

    The EIB Group has been supporting Ukraine’s resilience, economy and efforts to rebuild since the very first day of Russia’s full-scale invasion, with €2.2 billion disbursed since the start of the war. In 2024, the Bank supported projects aimed at securing Ukraine’s energy supply, repairing critical infrastructure that has been damaged, and ensuring that essential services continue to be delivered across the country.

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Press release – European Parliament Press Kit for the Special European Council of 6 March 2025

    Source: European Parliament

    European Parliament President Roberta Metsola will represent the European Parliament at the special summit, where she will address the heads of state or government at 12.30.

    European Council President António Costa convened the Special European Council to discuss continued support for Ukraine and European defence, with the participation of Ukrainian President Volodymyr Zelenskyy.

    Russia’s war of aggression against Ukraine

    On 24 February 2025, the President of the European Parliament, the President of the European Council and the President of the European Commission issued a joint statement, saying “Russia and its leadership bear sole responsibility for this war and the atrocities committed against the Ukrainian population. We continue to call for accountability for all war crimes and crimes against humanity committed. We welcome the recent steps made towards the establishment of a Special Tribunal for the Crime of Aggression against Ukraine.”

    The three Presidents highlighted that “Ukraine is part of our European family” and that “the future of Ukraine and its citizens lies within the European Union.”. They said “the need to ensure the international community’s continued focus on supporting Ukraine in achieving a comprehensive, just, and lasting peace based on the Ukrainian peace formula. We stand firm with Ukraine, reaffirming that peace, security, and justice will prevail.”

    On 11 February, Parliament’s Conference of Presidents issued a statement on continuing the EU’s unwavering support for Ukraine, after three years of Russia’s full-scale war of aggression. EP leaders reaffirmed their “steadfast solidarity with the people of Ukraine, who continue to demonstrate extraordinary resilience and courage in defending their sovereignty, independence, and territorial integrity. The European Union must remain united in its commitment to support Ukraine that includes political, military, economic, humanitarian and financial assistance. (…) . We call on the EU and its member states to increase and speed up the delivery of its support, in particular of its military support and establish a legal regime allowing for the confiscation of Russian-owned assets frozen by the EU.”

    Also on 11 February, the Chair of the Ukrainian Verkhovna Rada, Ruslan Stefanchuk, addressed a formal sitting of the European Parliament. Welcoming Mr Stefanchuk, European Parliament President Roberta Metsola said: “I am proud that this Parliament has stood with Ukraine from the very first moment – united, unwavering, and resolute. We will keep pushing for peace. Peace must be just, it must be dignified, and it must be based on the principle of ‘Nothing about Ukraine without Ukraine’.”

    In a resolution adopted on 23 January, MEPs condemn the Russian regime’s systematic falsification of historical arguments to justify its illegal war of aggression against Ukraine. The text rejects historical claims by the Russian regime used to undermine Ukraine’s history and national identity as futile attempts to justify its ongoing illegal war. Parliament issues a strong call for the EU and its member states to increase and better coordinate their efforts to promptly and rigorously counter Russian disinformation and foreign information manipulation and interference. This is essential, they say, to protect the integrity of democratic processes and strengthen the resilience of European societies.

    The resolution also calls on the EU to expand its sanctions against Russian media outlets conducting disinformation campaigns championing Russia’s war of aggression against Ukraine. It urges EU countries to implement these sanctions thoroughly and to dedicate sufficient resources to effectively addressing hybrid warfare. MEPs also want the EU to step up its support for exiled independent Russian media to facilitate diverse voices in the Russian-language media.

    On 28 November 2024, MEPs adopted a resolution calling for more military support for Ukraine amid the involvement of China and North Korea. They condemn Russia’s use of North Korean troops against the Ukrainian army and its testing of new ballistic missiles in Ukraine. These recent escalatory steps represent a new phase in the war and a new risk for Europe’s security as a whole, MEPs argue, calling on the EU and Ukraine’s other international partners to respond accordingly.

    Insisting that “no negotiations about Ukraine can take place without Ukraine”, MEPs urge the EU to work towards achieving the broadest possible international support for Ukraine and identifying a peaceful solution to the war. The resolution also demands the Council extend its sanctions against Russia, particularly against sectors of special economic importance, such as the metallurgical, nuclear, chemical, agricultural and banking sectors, and on Russian raw materials.

    Extraordinary plenary session with Volodymyr Zelenskyy

    On 19 November 2024, Parliament held an extraordinary plenary session with Ukraine’s President Volodymyr Zelenskyy, marking 1000 days since Russia’s full-scale invasion. Opening the sitting, EP President Roberta Metsola said Parliament would stand with Ukraine until it has “freedom and real peace, for as long as it takes.” She added that the Ukrainian people’s sacrifice over the previous 1,000 days was not just for themselves but for every European’s freedom and way of life.

    In his address, President Zelenskyy thanked the EU for its support and said that Ukraine, all of Europe, and our partners in America and around the world have succeeded not only in “preventing Putin from taking Ukraine” but also in defending the freedom of all European nations. “Putin remains smaller than the united strength of Europe. I urge you not to forget this, and not to forget how much Europe is capable of achieving. We can surely push Russia towards a just peace. Peace is what we desire the most,” he added. President Zelenskyy concluded by saying: “No one can enjoy calm water amid the storm. We must do everything we can to end this war fairly and justly. 1,000 days of war is a tremendous challenge. We must make the next year the year of peace.”

    Statement by EP leaders marking 1,000 days of Russia’s full-scale invasion of Ukraine

    Also on 19 November 2024, Parliament’s President and political group leaders adopted a statement marking 1,000 days of Russia’s illegal and unjustified war against Ukraine. “We have started EU accession talks with Ukraine as it moves towards taking its rightful place in our European family. The gradual integration of Ukraine into the Union will be a central task for all EU institutions in this legislature, along with providing long-term financial and military assistance and much-needed support,” they said. They said, “The ultimate goal remains to achieve a just and lasting peace in Ukraine on Ukraine’s terms, ensuring the safety and dignity of its people within a peaceful and stable Europe. Together, the democratic world must send a clear, simple message: we stand with and support Ukraine in every possible way until its victory.”

    Measures against the Russian “shadow fleet”

    In a resolution adopted on 14 November 2024, Parliament calls for more targeted EU sanctions against Russia’s so-called ‘shadow fleet’, which provides a key financial lifeline for Moscow’s war in Ukraine. MEPs demand measures against these vessels in the next EU sanctions packages, including all individual ships as well as their owners, operators, managers, accounts, banks and insurance companies. They also call for the systematic sanctioning of vessels sailing through EU waters without known insurance and urge the EU to enhance its surveillance capabilities, especially drone and satellite monitoring, and to conduct targeted inspections at sea. MEPs want EU member states to designate ports capable of handling sanctioned vessels carrying crude oil and Liquified Natural Gas (LNG) and to seize illegal cargo without compensation.

    Financial assistance to Ukraine

    On 22 October 2024, MEPs approved an extraordinary loan of up to €35 billion to Ukraine, to be repaid with future revenues from frozen Russian assets. Parliament endorsed the new macro-financial assistance (MFA) to help Ukraine against Russia’s brutal war of aggression. This loan is the EU’s part of a G7 package agreed last June, to provide up to $50 billion (approximately €45 billion) in financial support to Ukraine. The final amount the EU will contribute could be lower, depending on the size of the loans provided by other G7 partners.

    The Ukraine Loan Cooperation Mechanism, a newly established framework, will make future revenues from the frozen Russian Central Bank assets located in the EU available to Ukraine. These funds will help Ukraine service and repay the EU’s MFA loan as well as loans from other G7 partners. While the mechanism’s funds can be used to service and repay loans, Kyiv may allocate the MFA funds as it sees fit.

    Further reading

    Joint statement on the third anniversary of Russia’s invasion of Ukraine

    EP Conference of Presidents’ statement on EU support for Ukraine

    Ruslan Stefanchuk: “Peace in Ukraine can only be achieved if we stay strong”

    MEPs condemn Russia’s use of disinformation to justify its war in Ukraine

    More military support for Ukraine amid the involvement of China and North Korea

    Zelenskyy to MEPs: “We must end this war fairly and justly”

    1000 days: Statement on Ukraine by European Parliament’s leaders

    Parliament calls for an EU crackdown on Russia’s ’shadow fleet’

    Parliament approves up to €35 billion loan to Ukraine backed by Russian assets

    MEPs: Ukraine must be able to strike legitimate military targets in Russia

    Newly elected Parliament reaffirms its strong support for Ukraine

    MEPs approve trade support measures for Ukraine with protection for EU farmers

    Joint Statement by the Presidents of the European Union Institutions on the occasion of the 2 year anniversary of the Russian invasion of Ukraine

    Parliament calls on the EU to give Ukraine whatever it needs to defeat Russia

    EU sanctions: new rules to crack down on violations

    MEPs: EU must actively support Russia’s democratic opposition

    Yulia Navalnaya: “If you want to defeat Putin, fight his criminal gang”

    Debate 12 March 2024: Preparation of the European Council meeting of 21 and 22 March 2024

    Debate 13 March 2024: Need to address the urgent concerns surrounding Ukrainian children forcibly deported to Russia

    Parliament wants tougher enforcement of EU sanctions against Russia

    A long-term solution for Ukraine’s funding needs

    How the EU is supporting Ukraine

    EU stands with Ukraine

    European Defence

    At the informal European Council meeting on defence on 3 February 2025, European Parliament President Metsola outlined her vision for how Europe can and must strengthen its own security and defence. “More action, more financing, and more cooperation,” must be the EU’s goals, she argued.

    “We need to do more, much more, to ramp up defence production and increase our defence industrial readiness” she said, stressing that “the best investment in European security is investing in the security of Ukraine.”

    President Metsola argued “investing in security, is not just about protection – it is about boosting European competitiveness, driving growth, creating quality high-skilled jobs and powering everyday breakthroughs that improve how we live, work and connect. The real incentive lies in addressing fragmentation within our markets. Different rules, standards, and systems are putting up barriers and risk holding us back. It makes no sense for Europe to have 178 different weapons systems, when the United States has 30.”

    “Fragmentation costs us billions: between €25 and €75 billion are lost due to duplication and inefficiencies. The answer to this is staring us right in the face. Now is the time to move forward with a single market for defence. Europe must be responsible for its own security. No one else will do this for us,” she added

    In a report adopted by the Foreign Affairs Committee on 30 January, MEPs push for the EU to strengthen its defence capacity against a backdrop of multiple security threats. The report emphasises the absolute need for the EU to recognise and meet the current challenges posed by multiple and evolving security threats. The EU, they say, needs to engage in new and better policies that will enable the European Union and its member states to strengthen their defence in Europe. Noting the limited progress and underinvestment in common European defence capability development, industrial capacity, and defence readiness since the establishment of the EU’s Common Security and Defence Policy (CSDP) 25 years ago, MEPs restate need for a truly common European approach, policies and joint efforts in the area of defence. They say a paradigm shift in EU CSDP is essential to enable the European Union to act decisively in its neighbourhood, and on the global stage, to safeguard its values, interests, citizens, and promote its strategic objectives.

    On 13 January, MEPs discussed the security situation in Europe and beyond, as well as defence and EU-NATO cooperation, with NATO Secretary General Mark Rutte.

    Regarding EU-NATO cooperation, MEPs quizzed Mr Rutte on the EU’s contribution. Defence is not limited to military issues, MEP said, adding that it includes international relations, as well as social, economic and diplomatic relations. MEPs also asked about future cooperation with the incoming Trump Administration and expressed concern about the role of Türkiye in NATO.

    Other MEPs pointed out that there are differences between NATO allies on defence issues, but unity is necessary to secure a sustainable peace in Ukraine. They also highlighted the difficult security situation in the Mediterranean and the Western Balkans.

    Several MEPs enquired about the avoidance of duplication in military production as well accelerating the development of weapons, and others raised the issue of the need to tackle hybrid threats, particularly on the eastern flank of Europe and in the Western Balkans.

    Further reading

    “Europe must be responsible for its own security”, Metsola tells EU leaders

    MEPs call on Europe to strengthen its defence capacity

    Rutte to MEPs: “We are safe now, we might not be safe in five years”

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Portugal financing from EIB Group surpasses €2 billion in 2024 with record investment in green financing and sustainable energy

    Source: European Investment Bank

    • EIB Group affirms strong commitment to Portugal with €2.1 billion in financing last year.
    • Climate and environmental sustainability financing reached 63 % of total amount consolidating the EIB as the Climate Bank in Portugal.
    • Record investment of more than €1.1 billion in sustainable energy and natural resources, nearly double last year’s financing.
    • Key priorities for 2025 include financing the Porto-Lisbon high-speed rail line and reinforce financing for social infrastructures in the country.

    The European Investment Bank (EIB) Group, which comprises the European Investment Bank (EIB) and the European Investment Fund (EIF), reaffirmed its strong commitment to Portugal in 2024, with new financing of €2.1 billion to foster the country’s sustainable economic development. This financing unlocked a total of around €4.9 billion in investments, equivalent to a 1.7 % of the country’s GDP.

    A significant part of this support was directed at Portuguese projects promoting climate action and environmental protection, as well as investments in health and transport infrastructure. A record of more than €1.1 billion went to clean energy, marking an unprecedented boost for the green transition.

    “Cooperation with the Portuguese authorities is excellent. We have invested more than €2 billion in Portugal in 2024, and we have launched emblematic projects such as the Lisbon Oriental Hospital and the high-speed train between Lisbon and Porto. We will continue to be a very important investment partner for the country to the benefit of Portuguese businesses and citizens”, said EIB Group President Nadia Calviño.

    In 2024, EIB Group financing, supported around 10,000 Portuguese companies and sustained almost 230,000 jobs.

    Record financing in climate action and energy transition in Portugal

    Portuguese projects advancing climate action and environmental sustainability received a record €1.3 billion in EIB Group financing last year, driven by significant investments in sustainable energy. This amount accounts for 63 % of its total investment in Portugal, thus exceeding the 50 % target for the Group in place for 2025.

    Financing in sustainable energy and natural resources surpassed €1.1 billion, a record for the country that nearly doubled last year’s investment. Among the biggest operations: two loans to Portuguese electricity supplier EDP to expand renewable energy generation, wind and solar, and to modernize electricity distribution networks, and two loans to finance Galp Energia for the construction of an advanced biofuels plant and a renewable hydrogen unit in the coastal area of Sines.

    Other relevant projects contributing to the green financing were the EIB loan signed with ANA to support low-carbon initiatives at nine airports in Portugal, and the loan signed with BPI to finance small and medium-sized enterprises, mid-caps, and public sector entities investing in climate action projects.

    Strengthening country’s economic cohesion, innovation and social infrastructure

    Beyond green investments, the EIB last year allocated €1.5 billion to initiatives aimed at enhancing Portugal’s economic and social cohesion.

    It signed a €107 million loan to finance the construction of Hospital de Lisboa Oriental. The new facilities will replace six old hospitals, spread over more than 100 buildings in the Lisbon centre. This will guarantee access to modern health services and improve the distribution of hospital beds around the city.

    Supporting innovation was another priority of the EIB Group in Portugal last year. Special mention deserves the €90 million investment pledged by the EIF into three venture capital funds to accelerate the growth of start-ups in the deep-tech and cybersecurity sectors.

    Looking ahead: reinforce support for social infrastructures and finance Porto-Lisbon high-speed rail line

    Unlocking investment in social infrastructures that address the most pressing needs of European citizens, will continue being a priority for the EIB Group in Portugal in 2025, together with the financing of the first phase of the high-speed railway line between Porto and Lisbon, reinforcing commitment to sustainable transport and regional cohesion.

    Video EIB Group in Portugal in 2024 https://youtu.be/szAUKoTJoP8

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Asia-Pac: President Smt. Droupadi Murmu to lead the celebration on International Women’s Day

    Source: Government of India

    President Smt. Droupadi Murmu to lead the celebration on International Women’s Day

    National level conference on theme “Nari Shakti Se Viksit Bharat” being organised by Ministry of Women & Child Development on March 8, 2025

    High Level Panel Discussion to follow inaugural session

    Three technical sessions to be organized bringing together renowned women leaders from STEM, business, sports, media, and governance

    Unique Digital Media & Interactive Zone to showcase contributions of women in shaping a progressive India through real-time discussions, multimedia exhibits & storytelling initiatives

    Posted On: 06 MAR 2025 11:48AM by PIB Delhi

    The Government of India will be celebrating the International Women’s Day on 8thMarch, 2025.  The Ministry of Women & Child Development (MWCD) is holding a national level conference at Vigyan Bhawan, New Delhi on the theme “Nari Shakti Se Viksit Bharat”.  The President of India Smt. Droupadi Murmu will inaugurate the National Conference. The event will also be graced by Minister for Women and Child Development, Smt. Annpurna Devi, and Minister of State, Smt. Savitri Thakur, along with senior officials and distinguished guests. On this occasion, mega campaign through #SheBuildsBharat is also being organised.

    The event will witness the participation of women officers from the armed forces and para military forces and  Delhi police along with My Bharat volunteers, Anganwadi Workers, ASHA workers, Self Help Group members etc. Additionally, lady officers from various Ministries/ Departments have been invited to participate in the event. The event will also mark the presence of representatives from international organizations such as the World Bank, UNICEF, UN Women, UNDP, UNFPA etc.

    After the inaugural session, the day will continue with a valuable high Level Panel Discussion.

    On the sidelines of the above event, three technical sessions will be organized to bring together renowned women leaders from STEM, business, sports, media, and governance.

    1. Trailblazers and Luminaries – Looking Back and Forging Ahead on the 50th Anniversary of International Women’s Day

    This session will bring together renowned women leaders from STEM, business, sports, media, and governance to share their experiences and inspire future generations.

    1. Capitalizing on Women Power – Breakthroughs in Financial Inclusion

    This session will focus on financial inclusion, entrepreneurship, and empowering women in the economy.

    1. Women in Leadership – Panchayat to Parliament

    A dedicated discussion on policies and frameworks to accelerate gender equality through political leadership.

    A unique Digital Media and Interactive Zone will engage participants through real-time discussions, multimedia exhibits, and storytelling initiatives, showcasing the contributions of women in shaping a progressive India.

    The proceedings will be livestreamed on Doordarshan, Webcast link, the Ministry of Women, and Child Development’s social media platforms and World Bank Live for  widespread reach and engagement.

    The Government of India, under the visionary leadership of Prime Minister Shri Narendra Modi, remains steadfast in its mission to empower women through transformative policies and initiatives. As India moves forward on the path of development, Nari Shakti will continue to be the cornerstone of a self-reliant and prosperous Bharat.

    https://pib.gov.in/PressNoteDetails.aspx?NoteId=153866&ModuleId=3&reg=3&lang=1

    *****

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    MIL OSI Asia Pacific News –

    March 6, 2025

  • MIL-OSI Asia-Pac: International Women’s Day 2025

    Source: Government of India (2)

    International Women’s Day 2025

    Empowered Women Empower the World

    Posted On: 06 MAR 2025 9:39AM by PIB Delhi

    Introduction

    International Women’s Day is celebrated around the world on 8th March. It is a day when women are recognized for their achievements across national, ethnic, linguistic, cultural, economic or political boundaries. The theme of International Women’s Day 2025 is “For ALL Women and Girls: Rights. Equality. Empowerment.” This year’s theme calls for action to unlock equal rights, power and opportunities for all and an inclusive future where no one is left behind. Central to this vision is empowering the next generation—youth, particularly young women and adolescent girls—as catalysts for lasting change.

    Further, the year 2025 is a pivotal moment as it marks the 30thanniversary of the Beijing Declaration and Platform for Action. This document is the most progressive and widely endorsed blueprint for women’s and girls’ rights worldwide, transforming the women’s rights agenda in terms of legal protection, access to services, youth engagement, and change in social norms, stereotypes, and ideas stuck in the past.

    In India, the government has been actively working towards women’s empowerment and gender equality through various policies, schemes, and legislative measures. The country is witnessing a transition from women’s development to women-led development, ensuring equal participation in national progress. Women are playing a crucial role in shaping India’s socio-economic landscape, breaking barriers in education, health, digital inclusion, and leadership roles.

    On March 3, 2025, Prime Minister Narendra Modi encouraged women across India to share their inspiring life journeys on the NaMo App Open Forum ahead of International Women’s Day. He praised the remarkable stories already submitted, highlighting the resilience and achievements of women from different walks of life. As a special initiative, he announced that selected women would take over his social media accounts on March 8 to amplify their voices and experiences. This initiative aims to celebrate women’s contributions and inspire others by showcasing their journey of empowerment, perseverance, and success.

    Constitutional and Legal Framework

    The Indian Constitution guarantees gender equality through provisions in its Preamble, Fundamental Rights, and Directive Principles of State Policy. Article 14 ensures equality before the law, while Article 15 prohibits discrimination based on sex. Article 51(a)(e) encourages citizens to renounce practices derogatory to women’s dignity. The Directive Principles, particularly Articles 39 and 42, emphasize equal livelihood opportunities, equal pay, and maternity relief.

    India is a signatory to international treaties such as:

    • Universal Declaration of Human Rights (1948)
    • International Covenant on Civil and Political Rights (ICCPR, 1966)
    • Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW, 1979)
    • Beijing Declaration and Platform for Action (1995)
    • United Nations Convention Against Corruption (2003)
    • Agenda 2030 for Sustainable Development

     

    Government Schemes for Women’s Upliftment

    1. Education

    Education is the key to women’s empowerment and economic independence. India has undertaken several initiatives to ensure that girls have equal access to quality education from primary schooling to higher education. Gender parity in education has improved significantly, with female enrolment surpassing male enrolment in recent years.

    • Right to Free and Compulsory Education Act, 2009 ensures schools are within reach for all children.
    • Beti Bachao Beti Padhao (BBBP): Focuses on improving the child sex ratio and promoting girls’ education.
    • Samagra Shiksha Abhiyan: Supports school infrastructure and girl-friendly facilities.
    • National Education Policy (NEP) 2020 prioritizes gender equity and inclusion in education.
    • Eklavya Model Residential Schools: Promote quality education for tribal girls
    • Female Gross Enrollment Ratio (GER) has overtaken Male GER since 2017-18.
    • Female enrolment in higher education: 2.07 crore (2021-22), which is nearly 50% of the total number 4.33 crore.
    • The female to 100 male faculty ratio has also improved to 77 in 2021-22 from 63 in 2014-15.
    • Women in STEM: 42.57% (41.9 lakh) of total STEM enrolment.
    • STEM Initiatives:
      • Vigyan Jyoti (2020) promotes STEM education for girls in underrepresented areas.
    • Overseas Fellowship Scheme supports women scientists in global research opportunities.
    • National Digital Library, SWAYAM, and SWAYAM PRABHA ensure access to online learning.
    • Over 10 lakh girl students benefitted under various scholarships for STEM fields.
    • Skill Development Initiatives:
      • Skill India Mission, Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Women Industrial Training Institutes provide vocational and technical training to women.
      • Women Technology Parks (WTPs) serve as hubs for training and capacity building.

     

    2. Health and Nutrition

    Access to healthcare services is crucial for improving the well-being of women and reducing gender-based health disparities. The government has introduced several policies to ensure maternal and child health, nutrition, and medical support for women across all sections of society.

    • Pradhan Mantri Matru Vandana Yojana (PMMVY): Provides cash incentives to pregnant and lactating mothers, with ₹17,362 crore disbursed to 3.81 crore women, as of January 2025.
    • Improved Maternal Health:
      • Maternal Mortality Rate (MMR) reduced from 130 (2014-16) to 97 (2018-20) per lakh live births.
      • Under-5 Mortality Rate (U5MR) decreased from 43 (2015) to 32 (2020).
      • Life expectancy for women increased to 71.4 years (2016-20), expected to reach 74.7 years by 2031-36.
    • Nutrition and Sanitation:
      • Jal Jeevan Mission provided potable tap water to 15.4 crore households, reducing health risks.
      • Swachh Bharat Mission led to the construction of 11.8 crore toilets, improving sanitation and hygiene.
      • Poshan Abhiyaan: Strengthens maternal and child nutrition programs
      • Over 10.3 crore clean cooking gas connections distributed under the Ujjwala Yojana.

     

    3. Economic Empowerment and Financial Inclusion

    Women’s participation in the workforce is a key driver of economic growth. The government has launched multiple initiatives to promote financial independence, entrepreneurship, and employment opportunities for women.

    • Women’s participation in major household decisions: Increased from 84% (2015) to 88.7% (2020).
    • Financial Inclusion:
      • PM Jan Dhan Yojana: Over 30.46 crore accounts (55% belonging to women) opened.
      • Stand-Up India Scheme: 84% of loans under ₹10 lakh to ₹1 crore sanctioned to women entrepreneurs.
      • MUDRA Scheme: 69% of microloans given to women-led enterprises.
    • Self-Help Groups under NRLM: 10 crore (100 million) women connected to 9 million SHGs.
    • Bank Sakhis Model: 6,094 women banking correspondents processed transactions worth $40 million in 2020.
    • Employment and Leadership:
      • Women in Armed Forces: Entry into NDA, combat roles, and Sainik Schools.
      • Civil Aviation: India has over 15% women pilots, higher than the global average of 5%.
      • Working Women’s Hostels (Sakhi Niwas): 523 hostels benefiting 26,306 women.
    • Women Entrepreneurs in Startups: 10% of funds in the Small Industries Development Bank of India reserved for women-led startups

     

    4. Digital and Technological Empowerment

    In the digital era, access to technology and digital literacy are crucial for women’s socio-economic progress. The government has been proactive in ensuring women are part of the digital revolution through various initiatives.

    • Digital India Initiatives:
      • PMGDISHA (Prime Minister’s Digital Saksharta Abhiyan): 60 million rural citizens trained in digital literacy.
      • Common Service Centres (CSCs): 67,000 women entrepreneurs running digital service centers.
      • Ayushman Bharat Digital Mission (ABDM): Bridging healthcare accessibility through digital solutions.
      • SANKALP Hubs for Women Empowerment: Functioning in 742 districts across 35 States/UTs
    • Financial Technology and Inclusion:
      • Digital banking and Aadhaar-linked services ensure financial security for women.
      • Government e-marketplaces encourage female entrepreneurship and online businesses.

     

    5. Safety and Protection

    Ensuring women’s safety is a top priority for the Indian government. Several legislative measures, dedicated funds, and fast-track courts have been established to curb crimes against women and provide legal and institutional support.

    • Key Legal Frameworks:
      • Criminal Law (Amendment) Act, 2018: Enhanced penalties for crimes against women.
      • Protection of Women from Domestic Violence Act, 2005.
      • Sexual Harassment of Women at Workplace Act, 2013.
      • POCSO Act, 2012: Strengthened laws against child abuse.
      • Ban on Triple Talaq (2019): Criminalizing instant divorce practices.
      • Dowry Prohibition Act, 1961: Penalizes dowry-related offenses.
      • Prohibition of Child Marriage Act, 2006: Protects minors from forced marriages.
    • Nirbhaya Fund Projects (₹11,298 crore allocated):
      • One Stop Centres (OSCs): 802 centers functional, assisting over 1 million women.
      • Emergency Response Support System (ERSS – 112): 38.34 crore calls handled.
      • Fast Track Special Courts (FTSCs): 750 operational courts, 408 exclusively for POCSO cases.
      • Cyber Crime Helpline (1930) and cyber forensic labs for digital safety.
      • Safe City Projects: Implemented in 8 cities to enhance women’s safety.
      • 14,658 Women Help Desks in Police Stations, 13,743 headed by women.
    • Institutional and Legislative Reforms
      • Bharatiya Nyaya Sanhita (BNS), 2023: Strengthens provisions for gender justice.
      • Marital rape (for wives under 18) criminalized.
      • Enhanced punishment for sexual offenses and trafficking.
      • Witness protection and digital evidence admissibility improved.
      • Women’s representation in CAPFs: 33% reservation in select forces.
      • Nari Adalat: Piloted in 50 Gram Panchayats each in Assam and J&K, now expanding.

     

    Conclusion

    India has made remarkable progress in women’s empowerment through comprehensive policies, targeted schemes, and legal frameworks. From economic participation to safety, digital inclusion to education, the government’s initiatives have led to significant improvements in women’s lives. On this International Women’s Day, it is crucial to reaffirm the commitment to building an inclusive, gender-equal society where women play a central role in shaping the nation’s future. Sustained efforts in policy-making, community engagement, and digital inclusion will ensure that women continue to drive India’s growth story in the years to come.

    References

    Ministry of Women and Child Development

    https://www.pmindia.gov.in/en/news_updates/pm-encourages-women-to-share-their-inspiring-life-journeys/

    https://www.un.org/en/observances/womens-day/background

    https://www.un.org/en/observances/womens-day

    Click here to see PDF.

    *****

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    MIL OSI Asia Pacific News –

    March 6, 2025

  • MIL-OSI Banking: Trojans disguised as AI: Cybercriminals exploit DeepSeek’s popularity

    Source: Securelist – Kaspersky

    Headline: Trojans disguised as AI: Cybercriminals exploit DeepSeek’s popularity

    Introduction

    Among the most significant events in the AI world in early 2025 was the release of DeepSeek-R1 – a powerful reasoning large language model (LLM) with open weights. It’s available both for local use and as a free service. Since DeepSeek was the first service to offer access to a reasoning LLM to a wide audience, it quickly gained popularity, mirroring the success of ChatGPT. Naturally, this surge in interest also attracted cybercriminals.

    While analyzing our internal threat intelligence data, we discovered several groups of websites mimicking the official DeepSeek chatbot site and distributing malicious code disguised as a client for the popular service.

    Screenshot of the official DeepSeek website (February 2025)

    Scheme 1: Python stealer and non-existent DeepSeek client

    The first group of websites was hosted on domains whose names included DeepSeek model versions (V3 and R1):

    • r1–deepseek[.]net;
    • v3–deepseek[.]com.

    As shown in the screenshot, the fake website lacks the option to start a chat – you can only download an application. However, the real DeepSeek doesn’t have an official Windows client.

    Screenshot of the fake website

    Clicking the “Get DeepSeek App” button downloads a small archive, deep–seek–installation.zip. The archive contains the DeepSeek Installation.lnk file, which holds a URL.

    At the time of publishing this research, the attackers had modified the fake page hosted on the v3–deepseek[.]com domain. It now prompts users to download a client for the Grok model developed by xAI. We’re observing similar activity on the v3–grok[.]com domain as well. Disguised as a client is an archive named grok–ai–installation.zip, containing the same shortcut.

    Executing the .lnk file runs a script located at the URL inside the shortcut:

    This script downloads and unpacks an archive named f.zip.

    Contents of the unpacked archive

    Next, the script runs the 1.bat file from the unpacked archive.

    Contents of the BAT file

    The downloaded archive also contains the svchost.exe and python.py files. The first one is a legitimate file python.exe, renamed to mimic a Windows process to mislead users checking running applications in Task Manager.

    It is used to launch python.py, which contains the malicious payload (we’ve also seen this file named code.py). This is a stealer script written in Python that we haven’t seen in attacks before. If it’s executed successfully, the attackers obtain a wealth of data from the victim’s computer: cookies and session tokens from various browsers, login credentials for email, gaming, and other accounts, files with certain extensions, cryptocurrency wallet information, and more.

    After collecting the necessary data, the script generates an archive and then either sends it to the stealer’s operators using a Telegram bot or uploads it to the Gofile file-sharing service. Thus, attempting to use the chatbot could result in the victim losing social media access, personal data, and even cryptocurrency. If corporate credentials are stored on the compromised device, entire organizations could also be at risk, leading to far more severe consequences.

    Scheme 2: Malicious script and a million views

    In another case, fake DeepSeek websites were found on the following domains:

    • deepseek–pc–ai[.]com
    • deepseek–ai–soft[.]com

    We discovered the first domain back in early February, hosting the default Apache web server page with no content. Later, this domain displayed a new web page closely resembling the DeepSeek website. Notably, the fake site uses geofencing: when requests come from certain IP addresses, such as Russian ones, it returns a placeholder page filled with generic SEO text about DeepSeek (we believe this text may have been LLM-generated):

    If the IP address and other request parameters meet the specified criteria, the server returns a page resembling DeepSeek. Users are prompted to download a client or start the chatbot, but either action results in downloading a malicious installer created using Inno Setup. Kaspersky products detect it as Trojan–Downloader.Win32.TookPS.*.

    When executed, this installer contacts malicious URLs to receive a command that will be executed using cmd. The most common command launches powershell.exe with a Base64-encoded script as an argument. This script accesses an encoded URL to download another PowerShell script, which activates the built-in SSH service and modifies its configuration using the attacker’s keys, allowing remote access to the victim’s computer.

    Part of the malicious PowerShell script

    This case is notable because we managed to identify the primary vector for spreading the malicious links – posts on the social network X (formerly Twitter):

    This post, directing users to deepseek–pc–ai[.]com, was made from an account belonging to an Australian company. The post gained 1.2 million views and over a hundred reposts, most of which were probably made by bots – note the similar usernames and identifiers in their bios:

    Some users in the comments dutifully point out the malicious nature of the link.

    Links to deepseek–ai–soft[.]com were also distributed through X posts, but at the time of investigation, they were only available in Google’s cache:

    Scheme 3: Backdoors and attacks on Chinese users

    We also encountered sites that directly distributed malicious executable files. One such file was associated with the following domains:

    • app.delpaseek[.]com;
    • app.deapseek[.]com;
    • dpsk.dghjwd[.]cn.

    These attacks target more technically advanced users – the downloaded malicious payload mimics Ollama, a framework for running LLMs such as DeepSeek on local hardware. This tactic reduces suspicion among potential victims. Kaspersky solutions detect this payload as Backdoor.Win32.Xkcp.a.

    The victim only needed to launch the “DeepSeek client” on their device to trigger the malware, which creates a KCP tunnel with predefined parameters.

    Additionally, we observed attacks where a victim’s device downloaded the deep_windows_Setup.zip archive, containing a malicious executable. The archive was downloaded from the following domains:

    • deep–seek[.]bar;
    • deep–seek[.]rest.

    The malware in the archive is detected by Kaspersky solutions as Trojan.Win32.Agent.xbwfho. This is an installer created with Inno Setup that uses DLL sideloading to load a malicious library. The DLL in turn extracts and loads into memory a payload hidden using steganography — a Farfli backdoor modification — and injects it into a process.

    Both of these campaigns, judging by the language of the bait pages, are targeting Chinese-speaking users.

    Conclusion

    The nature of the fake websites described in this article suggests these campaigns are widespread and not aimed at specific users.

    Cybercriminals use various schemes to lure victims to malicious resources. Typically, links to such sites are distributed through messengers and social networks, as seen in the example with the X post. Attackers may also use typosquatting or purchase ad traffic to malicious sites through numerous affiliate programs.

    We strongly advise users to carefully check the addresses of websites they visit, especially if links come from unverified sources. This is especially important for highly popular services. In this case, it’s particularly noteworthy that DeepSeek doesn’t have a native Windows client. This isn’t the first time that cybercriminals have exploited the popularity of chatbots to distribute malware: they’ve previously targeted regular users with Trojans disguised as ChatGPT clients and developers with malicious packages in PyPI. Simple digital hygiene practices, combined with a cutting-edge security solution, can significantly reduce the risk of device infection and personal data loss.

    Indicators of compromise

    MD5

    4ef18b2748a8f499ed99e986b4087518
    155bdb53d0bf520e3ae9b47f35212f16
    6d097e9ef389bbe62365a3ce3cbaf62d
    3e5c2097ffb0cb3a6901e731cdf7223b
    e1ea1b600f218c265d09e7240b7ea819
    7cb0ca44516968735e40f4fac8c615ce
    7088986a8d8fa3ed3d3ddb1f5759ec5d

    Malicious domains

    r1-deepseek[.]net
    v3-deepseek[.]com
    deepseek-pc-ai[.]com
    deepseek-ai-soft[.]com
    app.delpaseek[.]com
    app.deapseek[.]com
    dpsk.dghjwd[.]cn
    deep-seek[.]bar
    deep-seek[.]rest
    v3-grok[.]com

    MIL OSI Global Banks –

    March 6, 2025

  • MIL-OSI Economics: Current account deficit 95.2 b.kr. in Q4/2024 – net IIP positive by 42.5% of GDP

    Source: Central Bank of Iceland

    The current account deficit measured 95.2 b.kr. in Q4/2024. This represents a deterioration of 147.4 b.kr. relative to the previous quarter and 77.7 b.kr. relative to Q4/2023. There was a deficit on goods trade in the amount of 104.1 b.kr and a 34.5 b.kr. surplus on services trade. The deficit on primary income was 10.5 b.kr., and the deficit on secondary income was 15.1 b.kr.

    MIL OSI Economics –

    March 6, 2025

  • MIL-Evening Report: Grattan on Friday: Anthony Albanese beset by disruptors, from Cyclone Alfred to Donald Trump

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

    Issues sometimes “come at you”, Anthony Albanese declared on Thursday at the end of a news conference, held at Canberra’s National Situation Room, about Cyclone Alfred.

    The cyclone is a disaster for millions of people in its path. For the prime minister, it is a major political disruptor.

    Albanese cancelled his visit to Western Australia: he’d wanted to be there when Labor has its anticipated certain win at Saturday’s election.

    His own election planning – which seemed headed for an April 12 election called this weekend – has been thrown into some disarray (although this is contested by those involved).

    Then there was the good news that was crowded out. Wednesday’s national accounts finally showed some of the much hoped-for positive trends, especially an end to the per capita recession, which had been running for seven consecutive quarters. But with the cyclone naturally dominating attention, who noticed?

    Albanese’s response to the new circumstances was to place himself at the centre of the planning for the cyclone. He stood side by side with Queensland Premier David Crisafulli at his news conference on Wednesday and was early to the Situation Room on Thursday morning, promising to give regular updates.

    To questions about whether he’d abandoned any thought of calling an election at the weekend, the PM insisted (unconvincingly) that politics was furthest from his mind. Though announcing an election would appear near impossible in the circumstances, and attention had already begun turning to a May date (and a budget beforehand), Albanese on Thursday wouldn’t be drawn. Basically, he was waiting to see what happened with the weather.

    The cyclone will be a passing disruptor. The disruption from the Trump administration will be with Australia (and the world) for the foreseeable future.

    Next week Australia will know whether its intense lobbying for an exemption from the US tariffs on aluminium and steel has been effective. Those around the government are not optimistic.

    More concerning than the immediate impact on Australia if we fail to win the exemption is the effect of US protectionism more generally.

    Reserve Bank deputy Governor Andrew Hauser confirmed this week that “from a macroeconomic perspective, Australia’s direct exposure to US tariffs levied on our exports is limited”.

    “[But] Australia is heavily integrated into, and reliant on, the global economy more broadly – and particularly China. Hence the bigger macroeconomic risk for us would be if the imposition of US tariffs on third countries triggered a global trade war that impaired our trade and financial linkages more broadly.

    “As Australia’s long history has shown, we thrive when trade, labour and assets flow freely in the global economy, but we suffer when countries turn inwards.”

    How disruptive this new world will be to the Australian economy can’t be known but it could make things very difficult for a second term Albanese government or a first term Dutton one.

    As Trump tries to force a settlement on Ukraine, there’s been increasing attention on the Europeans’ plans to boost their defence expenditure. This week, we started to feel the heat on Australia to do the same.

    Trump’s nominee for Under Secretary of Defense for Policy, Elbridge Colby told the US Senate Committee on Armed Services, in a written answer during his confirmation hearing, that “Australia is a core U.S. ally. […] The main concern the United States should press with Australia, consistent with the President’s approach, is higher defense spending. Australia is currently well below the 3% level advocated for by NATO Secretary General Rutte, and Canberra faces a far more powerful challenge in China.”

    Presently Australia’s defence spending is about 2% of GDP, projected to increase to 2.4% by 2033–34.The Coalition has said it would spend more than Labor (but has not specified how much more).

    Defence Minister Richard Marles said he could “obviously understand the US administration seeking for its friends and allies around the world to do more. That’s a conversation that we will continue to have with the US administration. […] But it’s really important to understand we are increasing that spending right now.”

    It’s also important to understand that if Australia must ramp up defence further or faster than present plans, that will suck funds from other priorities, putting another squeeze on future governments.

    Trump’s bullying of Ukraine and its leader Volodymyr Zelensky has not weakened the bipartisan support in Australia for Ukraine.

    But a difference has emerged over whether Australia should (if asked) take part in any peacekeeping force. Peter Dutton said this role should be left to the Europeans. But Albanese flagged his government would consider it, pointing to the many other peacekeeping operations we have participated in.

    Former prime minister Scott Morrison got on well with Trump during the president’s first term and has become even more signed up since. The Morrisons were at Mar-a-Lago for New Year’s eve.

    Morrison was distinctly sympathetic to Trump’s approach when talking this week about Ukraine. He told an Australian Financial Review dinner, “Do we just keep fighting this war every day? The alternative is to find a peace that can be secured.

    “There was no conversation, no real conversation, about peace in Ukraine up until now.” Zelensky had the “most to gain” from negotiating to end the war, he said.

    Morrison is affiliated with lobbying firm American Global Strategies, which has links to the Trump administration. Colby is listed as a senior adviser. The chairman and founder of the group, Robert C. O’Brien, was formerly a national security adviser to Trump.

    Morrison is one of a number of former senior Australian political figures who have a current professional or commercial lock-in to Washington politics.

    Former Liberal treasurer Joe Hockey, who was close to the Trump White House when Hockey was ambassador in 2016-20, is founder and global president of Bondi Partners, a lobbying firm that operates between the US and Australia.

    Another former Australian ambassador to Washington, Arthur Sinodinos, is based in Washington as a partner in the Asia Group, a strategic advisory firm.

    Meanwhile former PM Kevin Rudd, as Australian ambassador in Washington, is trying to amplify Australia’s official voice with the administration.

    Speculation continues about Rudd’s future if the government changed. Dutton says that would depend on how effective Rudd was, saying his present instinct would be leave him in the job.

    Others are sceptical this would happen, and raise Morrison’s name as a possible replacement. Morrison has reportedly told people he would not want the post. But you couldn’t rule it out.

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Grattan on Friday: Anthony Albanese beset by disruptors, from Cyclone Alfred to Donald Trump – https://theconversation.com/grattan-on-friday-anthony-albanese-beset-by-disruptors-from-cyclone-alfred-to-donald-trump-251258

    MIL OSI Analysis – EveningReport.nz –

    March 6, 2025

  • MIL-OSI Europe: The EBA consults on new rules related to the anti- money laundering and countering the financing of terrorism package

    Source: European Banking Authority

    The European Banking Authority (EBA) launched today a public consultation on four draft Regulatory Technical Standards (RTS) that will be part of the EBA’s response to the European Commission’s Call for Advice.  These technical standards will be central to the EU’s new AML/CFT regime and will shape how institutions and supervisors will comply with their AML/CFT obligations under the new AML/CFT package. The consultation runs until 6 June 2025.

    The proposed RTSs focus on the following aspects for which the EBA is providing its advice:

    • he way the new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will decide which institutions will be subject to the direct supervision. The EBA is proposing that AMLA first determines which institutions are eligible for direct supervision taking into account their cross-border activities. In a second step, AMLA would consider the outcomes of the harmonised money-laundering/terrorist financing (ML/TF) risk assessment methodology.
    • the determination of the ML/TF risk associated with each institution. The EBA is proposing to put in place a harmonised methodology that all national supervisors will apply when assessing an institution’s inherent risks, the quality of controls and the residual risks that remain after the controls have been applied. The proposed approach will ensure that supervisors’ entity-level risk assessments are consistent with comparable outcomes across Member States. It would also reduce regulatory burden for cross-border institutions, especially because different supervisors’ information requests would be aligned.
    • the extent and quality of information institutions will have to obtain as part of the customer due diligence process under the new AML/CFT regime. To achieve effective outcomes, and to limit the cost of compliance, the EBA is proposing a framework within which institutions can choose the most appropriate approach to the extent that it is in compliance with the new AML Regulation. For example, the EBA lists the types of documents and sources of information that institutions should consult, rather than specify the documents and sources themselves.
    • on indicators  and criteria to be taken into account when setting the level of pecuniary sanctions or taking administrative measures including developing a methodology on how to impose  periodic penalty payments. The aim is to ensure that AML/CFT breaches are assessed in the same way by all supervisors across the EU and that the enforcement action is proportionate, dissuasive and effective.

    The European Commission has asked the EBA to prepare the above-mentioned technical standards to support the rapid and effective start of AMLA operations. The EBA will submit its response with the above-mentioned technical standards to the European Commission on 31 October 2025.

    Consultation process

    Comments to the consultation paper can be sent by clicking on the “send your comments” on the EBA’s consultation page. The deadline for the submission of comments is 6 June 2025. The EBA will consider the feedback received to this consultation when finalising the response to the European Commission’s Call for advice.

    All contributions received will be published following the end of the consultation, unless requested otherwise.

    The EBA will hold a virtual public hearing on the consultation paper on 10 April 2025 from 14:00 CET. The EBA invites interested stakeholders to register using this link by 8 April 2025 at 16:00 CET. The dial-in details will be communicated to those who have registered for the meeting.

    Legal basis and background

    The EBA’s work on these RTS stems from the European Commission’s Call for Advice of 12 March 2024. The latter relates to the preparation of four regulatory mandates under Article 40(2) of Directive (EU) 2024/1640 (AMLD6), Article 12(7) of Regulation (EU) 2024/1620 (AMLAR), Article 28(1) of Regulation (EU) 2024/1624 (AMLR) and Article 53(10) of AMLD6.

    These mandates are part of the new AML/CFT package that was published in the Official Journal of the EU on 19 June 2024. The package, which consists of four legal texts, will transform how the fight of money laundering and terrorist financing is organised in the EU. It creates a new agency that will directly supervise several financial institutions in the EU, harmonises the approaches of national AML/CFT supervisors and financial intelligence units within the EU and introduces for the first time a Single AML/CFT Rulebook.

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI Europe: Video message of President António Costa for the EIB Group Forum 2025

    Source: Council of the European Union

    At the beginning of the second day of the European Investment Bank (EIB) Group Forum 2025, President António Costa delivered a video message, in which he highlighted the critical role that EIB would be called to play for Europe’s security and defence.

    MIL OSI Europe News –

    March 6, 2025

  • MIL-OSI United Nations: Rebuilding beyond bricks: World Urban Forum focuses on housing, community support in war-torn cities

    Source: United Nations MIL OSI b

    7 November 2024 SDGs

    Delegates discussed a complicated urban development issue at the World Urban Forum on Tuesday: What is needed to safeguard residents and guarantee they have access to housing and basic services when war breaks out in a city crowded with people and critical infrastructure?

    The penultimate day of the Forum’s twelfth biennial session, or WUF12, examined the situation in the Gaza Strip, where the urban fabric and urban life in the enclave are in ruins following a year of intense bombardment and the war is now affecting the West Bank, Lebanon, and Syria.

    Participants grappled with all aspects of this challenge, particularly the need for local-level action. Seeking solutions that looked beyond physical damage caused by crises and conflicts, they focused on the loss of homes, places that “are filled with memories and community connections.”

    Anacláudia Rossbach, Executive Director of UN-Habitat, the UN agency dealing with sustainable urban development which convenes the Forum, told the gathering that “when we talk about building and rebuilding, we are not talking about housing only; we are talking about social support and working with communities to see a possible future.”

    Housing ‘close to home’

    Participants echoed that message throughout the discussion and stressed the crucial role of joint rebuilding and reconstruction efforts.

    UN News/Khaled Mohamed

    Sami Hijjawi, Minister of Local Government, State of Palestine, told UN News that “reconstruction can only be achieved through joint efforts, in an organized and structured manner. That way we can benefit from previous experiences and not repeat any mistakes that occurred during prior periods.”

    He went on to note that when addressing the issue of sheltering people and rebuilding infrastructure, it is critical that they be housed as close to their hometowns as possible.

    Despite the “difficult circumstances” in Gaza, development and urbanization efforts are continuing, said Mr. Hijjawi, explain that “we are still working, planning, programming, and providing services to our people within the available budgets.” 

    ‘Holistic approach’ in Somalia

    The participants shared many ideas and experiences about responses to other urban crises, including in Somalia.

    UN News/Khaled Mohamed

    Zahra Abdi Mohamed, Director of Poverty Reduction and Durable Solutions at Somalia’s Ministry of Planning, shared and example with UN News: “The Semantic Project integrates housing, land, and property issues with access to livelihoods and social services. And we are trying to ensure that when IDPs are being given support, it is holistic and integrated.”

    She urged moving from a solely humanitarian approach to a development approach and stressed the importance of integrated development services for internally displaced persons (IDPs), refugees, and returnees.

    Ms. Mohamed added that in order to get people to return, rural regions must be developed.

    ‘A crisis of destruction’

    UN News/Khaled Mohamed

    The key is stopping destruction of homes before it occurs, said to Jenia Gubkina, a Ukrainian architect who spoke at a related dialogue on the Loss of home.

    She told UN News: “We have a massive crisis, not only of reconstructions and construction of new types of architecture, but first of all, of destruction.”

    If it is not made clear that homes must not be destroyed, Ms. Gubkina warned that “we will construct, aggressors will come and deconstruct, making this a challenging and frustrating situation for the whole world.”

    Fixing urban crisis response

    There are 117 million displaced persons in the world, and cities are increasingly serving as both refuges for displaced populations and focal points of global crises. As a result, urban crisis response needs to be rethought immediately.

    UN News/Khaled Mohamed

    In that context, Sameh Wahba, World Bank Regional Director for Sustainable Development, Europe and Central Asia, told UN News that displacement is “an urban phenomenon” because the majority of people displaced by natural hazards and conflict seek refuge in cities.

    The solution, he said, is to this issue is to provide integrated solutions for “refugees, the internally displaced, the forcibly displaced, and their host communities.

    “The second thing is to consider solutions that are people-based…and place-based. When you think about people-based solutions – whether cash transfers or housing vouchers to enable housing access – it’s about helping them access jobs,” Mr. Whaba added.

    UN News/Khaled Haridy Mohamed

    Participants at the opening of the World Urban Forum in Cairo.

    What’s ahead on the closing day of WUF12

    WUF12 has been running in Cairo since Monday, 8 November. The biennial Forum, considered the world’s foremost gathering examining rapid urbanisation and its impact on communities, cities, economies, climate change and policies, will wrap up on Friday.

    The main highlight tomorrow will be the launch of the Cairo Call to Action, one of the three outcome documents capturing the key messages that will have emerged from WUF12.

    In addition, Forum participants will have the opportunity to attend roundtables on civil society and academia, as well as other partner-led events.

    The Closing Ceremony will feature remarks from high-level officials, including representatives from UN-Habitat and the Egyptian Government, thought leaders, and creative performances.

    The event will conclude with the official handover to Baku, Azerbaijan, the hosts of WUF13, marking the next steps in the global journey toward sustainable urbanization.

    MIL OSI United Nations News –

    March 6, 2025

  • MIL-OSI United Nations: ‘Naked struggle for power and resources’ leaves civilians paying unbearable price: UN human rights chief

    Source: United Nations MIL OSI b

    “Our world is going through a period of turbulence and unpredictability, reflected in growing conflict and divided societies,” Türk told the Human Rights Council.

    “We cannot allow the fundamental global consensus around international norms and institutions, built painstakingly over decades, to crumble before our eyes.”

    The weapons of war

    Presenting his global update covering more than 30 countries, the High Commissioner described as “outrageous” the fact that legal safeguards for non-combatants were being repeatedly ignored.

    “Civilians are deliberately attacked. Sexual violence and famine are used as weapons of war,” Mr. Türk said. “Humanitarian access is denied, while weapons flow across borders and circumvent international sanctions. And humanitarian workers are targeted. In 2024, a record 356 humanitarian workers were killed while providing aid to people in some of the world’s most appalling crises.”

    Unbearable price

    In Sudan, the High Commissioner once again condemned devastating bomb attacks launched in heavily built-up areas with total impunity, by the parties to the conflict.

    All the while, the world’s worst humanitarian catastrophe deepens, threatening regional stability, he maintained: “Civilians are paying an unbearable price, in a naked struggle for power and resources. All countries must use their influence to apply pressure on the parties and their allies, to stop the war, embark on an inclusive dialogue, and transition to a civilian-led Government.”

    Ukraine’s people need peace

    Turning to Ukraine, whose future material support from the United States appeared unclear following televised disagreements between Presidents Trump and Zelensky at a White House meeting on Friday, Mr. Türk opposed any peace deal that excluded Ukraine.

    “Three years since the full-scale Russian invasion, people continue to suffer appallingly…Any discussions about ending the war must include Ukrainians and fully respect their human rights. Sustainable peace must be based on the United Nations Charter and international law.”

    Civilian casualties in Ukraine rose by 30 per cent between 2023 and 2024, the High Commissioner continued, as he accused Russia’s armed forces of systematically targeting Ukraine’s energy infrastructure with coordinated strikes, causing widespread disruptions to essential services.

    “Relentless attacks with aerial glide bombs, long-range missiles and drones have placed civilians in a state of constant insecurity and fear,” Mr. Türk noted.

    Ukrainian prisoners also continue to face summary executions and “widespread and systematic torture” by Russian forces, he continued.

    Gaza ceasefire focus

    In the Occupied Palestinian Territory, the UN rights chief insisted that the fragile ceasefire holds in Gaza “and becomes the basis for peace”.

    He also insisted that aid deliveries into Gaza should resume immediately, just as Israel announced a halt to aid flowing into the shattered enclave, having proposed extending the first phase of the ceasefire which ended at the weekend and which would allow Israeli troops to stay in Gaza.

    UN aid chief Tom Fletcher responded with alarm to the Israeli decision, insisting that the ceasefire “must hold”.

    In an online appeal, he added: “International humanitarian law is clear: We must be allowed access to deliver vital lifesaving aid. We can’t roll back the progress of the past 42 days. We need to get aid in and the hostages out.”

    Back in the Council, Mr. Türk explained that the Gaza had been “razed” by constant Israeli bombardment in response to the “horrific” Hamas-led attacks on Israel that sparked the war in October 2023. “Any solution to the cycles of violence must be rooted in human rights, including the right to self-determination, the rule of law and accountability. All hostages must be freed; all those detained arbitrarily must be released; and humanitarian aid into Gaza must resume immediately.”

    West Bank alert

    Reflecting deep concerns by humanitarians and the human rights community about Israeli military raids on Palestinian settlements in the West Bank, the UN High Commissioner insisted that Israel’s “unilateral actions and threats of annexation in the West Bank, in violation of international law, must stop”.

    Mr. Türk also condemned the use of “military weapons and tactics, including tanks and airstrikes, against Palestinians”. Equally worrying was “the destruction and emptying of refugee camps, the expansion of illegal settlements, the severe restrictions on movement and the displacement of tens of thousands of people”.

    DR Congo devastation

    Turning to the conflict in eastern Democratic Republic of the Congo, the High Commissioner underscored that entire communities in North and South Kivu had been devastated.

    “In the past five weeks, thousands of people have reportedly been killed during attacks by the M23 armed group, backed by the Rwandan Armed Forces, in intense fighting against the Armed Forces of the DRC and their allies,” the UN rights chief said, pointing to reports of rape, sexual slavery and summary executions.

    “More than half a million people have been forced to flee this year, adding to almost 7.8 million people already displaced in the country,” Mr. Türk said. “The violence must stop, violations by all parties must be investigated, and dialogue must resume.”

    © WFP/Michael Castofas

    More than half a million people have been forced to flee DR Congo this year.

    Deadliest year in Myanmar

    Moving on to the ongoing escalation of violence in Myanmar sparked by the military coup on 1 February 2021, the UN rights chief noted that 2024 was the deadliest year for civilians since the junta takeover.

    “The military ramped up brutal attacks on civilians as their grip on power eroded, with retaliatory airstrikes and artillery shelling of villages and urban areas…and the forcible conscription of thousands of young people,” he said, before calling for the supply of arms and finance to the country’s military’s to be “cut decisively”.

    Haiti spiral

    The UN rights chief also expressed deep concerns about chronic lawlessness and heavily armed clashes in Haiti involving gangs that humanitarians warned last week recruit children as young as eight. More than 5,600 people were killed last year and thousands more were injured or kidnapped, Mr. Türk told the Human Rights Council.

    “Full implementation of the Security Council‘s arms embargo and support to the Multinational Security Support Mission are crucial to resolving this crisis,” he insisted.

    Yemen

    On Yemen, the High Commissioner noted that amid ongoing hostilities, nearly 20 million Yemenis need humanitarian support. Mr. Türk also expressed his outrage at the death of a UN World Food Programme colleague in detention earlier this month. “All 23 UN staff – including eight colleagues from my own Office – who are arbitrarily detained by the Houthis must be released immediately.”

    In a half-hour address to the Council that traditionally highlights the most worrying emergencies in the world and the need to tackle their root causes, the UN rights chief issued a call for greater global solidarity and accountability for crimes as a way to push back against those who would violate fundamental freedoms.

    “We all have a responsibility to act – through our consumption habits, our social media use, and our political and social engagement,” he told the Council’s 47 Member States.

    “We can trace a clear line between the lack of accountability for airstrikes on hospitals in Syria in the 2010s, attacks on healthcare facilities in Yemen, and the destruction of health systems in Gaza and Sudan,” he continued.

    Toys of tech oligarchs

    Equally alarming is the rise of unelected and unregulated “tech oligarchs” who reflect the new global power dynamic, Mr. Türk warned, before urging governments to fulfil their primary purpose of protecting their people from unchecked power.

    Today’s tech oligarchs “have our data: they know where we live, what we do, our genes and our health conditions, our thoughts, our habits, our desires and our fears…And they know how to manipulate us,” the High Commissioner insisted.

    Electioneering tactics

    “I have followed recent election campaigns in Europe, North America and beyond with increasing trepidation. Single-issue soundbites devoid of substance oversimplify complex issues and are often based on scapegoating, disinformation, and dehumanization,” he continued.

    “Dehumanization is a well-worn step towards treating an entire group as outsiders, unworthy of the basic rights we all enjoy. It is a dangerous precursor to hate and violence and must be called out whenever it occurs.”

    UN Human Rights Council/Marie Bambi

    Volker Türk, UN High Commissioner for Human Rights, presents his latest report on the obligation to ensure accountability and justice in the Occupied Palestinian Territory.

    Toxic influence on gender equality

    The High Commissioner also voiced his concern about the resurgence of toxic ideas about masculinity and efforts to glorify gender stereotypes, especially among young men.

    To blame for this are “misogynistic influencers” with millions of followers on social media who “are hailed as heroes”, Mr. Türk said.

    Online and offline, their ideas push back against gender equality and result in “violence and hateful rhetoric against women, women’s rights defenders, and women politicians”, the High Commissioner continued. 

    In a message of solidarity with people who have been left “feeling alienated and abandoned” by such malign influences, Mr. Türk insisted that the United Nations was by their side. “Your concerns are our concerns, because they are about human rights: to education, to health, to housing, to free speech, and access to justice. Human rights are about people’s daily concerns for their families and their future. We must cherish the values of respect, unity and solidarity; and work together for a safer, more just, more sustainable world. We can and will persevere,” he concluded.

    MIL OSI United Nations News –

    March 6, 2025

  • MIL-OSI China: China fully confident in achieving 2025 GDP growth target

    Source: China State Council Information Office

    Zheng Shanjie, head of the National Development and Reform Commission, Lan Fo’an, minister of finance, Wang Wentao, minister of commerce, Pan Gongsheng, governor of the People’s Bank of China, and Wu Qing, chairman of the China Securities Regulatory Commission, attend a press conference on economy for the third session of the 14th National People’s Congress (NPC) in Beijing, capital of China, March 6, 2025. [Photo/Xinhua]

    China is fully confident in achieving the economic growth target of around 5 percent this year as there is solid foundation, support and guarantee, Zheng Shanjie, head of the National Development and Reform Commission, told a press conference on Thursday.

    MIL OSI China News –

    March 6, 2025

  • MIL-OSI China: China to maintain exchange rate flexibility, guard against overshooting: official

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

    China to maintain exchange rate flexibility, guard against overshooting: official

    BEIJING, March 6 — China will maintain exchange rate flexibility while strengthening expectation guidance and resolutely guarding against the risk of exchange rate overshooting, Pan Gongsheng, governor of the People’s Bank of China, told a press conference on Thursday.

    MIL OSI China News –

    March 6, 2025

  • MIL-OSI China: China fully confident in achieving 2025 GDP growth target: official

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

    Zheng Shanjie, head of the National Development and Reform Commission, Lan Fo’an, minister of finance, Wang Wentao, minister of commerce, Pan Gongsheng, governor of the People’s Bank of China, and Wu Qing, chairman of the China Securities Regulatory Commission, attend a press conference on economy for the third session of the 14th National People’s Congress (NPC) in Beijing, capital of China, March 6, 2025. [Photo/Xinhua]

    BEIJING, March 6 — China is fully confident in achieving the economic growth target of around 5 percent this year as there is solid foundation, support and guarantee, Zheng Shanjie, head of the National Development and Reform Commission, told a press conference on Thursday.

    Zheng Shanjie, head of the National Development and Reform Commission, Lan Fo’an, minister of finance, Wang Wentao, minister of commerce, Pan Gongsheng, governor of the People’s Bank of China, and Wu Qing, chairman of the China Securities Regulatory Commission, attend a press conference on economy for the third session of the 14th National People’s Congress (NPC) in Beijing, capital of China, March 6, 2025. [Photo/Xinhua]
    Zheng Shanjie, head of the National Development and Reform Commission, Lan Fo’an, minister of finance, Wang Wentao, minister of commerce, Pan Gongsheng, governor of the People’s Bank of China, and Wu Qing, chairman of the China Securities Regulatory Commission, attend a press conference on economy for the third session of the 14th National People’s Congress (NPC) in Beijing, capital of China, March 6, 2025. [Photo/Xinhua]

    MIL OSI China News –

    March 6, 2025
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