Category: Banking

  • MIL-OSI: Siili Solutions Plc: Share Repurchase 14.7.2025

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc       Announcement  14.7.2025
         
         
    Siili Solutions Plc: Share Repurchase 14.7.2025  
         
    In the Helsinki Stock Exchange    
         
    Trade date           14.7.2025  
    Bourse trade         Buy  
    Share                  SIILI  
    Amount             900 Shares
    Average price/ share    6,6000 EUR
    Total cost            5 940,00 EUR
         
         
    Siili Solutions Plc now holds a total of 29 128 shares
    including the shares repurchased on 14.7.2025  
         
    The share buybacks are executed in compliance with Regulation 
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.
         
    On behalf of Siili Solutions Plc    
         
    Nordea Bank Oyj    
         
    Sami Huttunen Ilari Isomäki  
         
    Further information:    
    CFO Aleksi Kankainen    
    Email: aleksi.kankainen@siili.com    
    Tel. +358 50 584 2029    
         
    www.siili.com    
         
         
         

    Attachment

    The MIL Network

  • MIL-OSI: Siili Solutions Plc: Share Repurchase 14.7.2025

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc       Announcement  14.7.2025
         
         
    Siili Solutions Plc: Share Repurchase 14.7.2025  
         
    In the Helsinki Stock Exchange    
         
    Trade date           14.7.2025  
    Bourse trade         Buy  
    Share                  SIILI  
    Amount             900 Shares
    Average price/ share    6,6000 EUR
    Total cost            5 940,00 EUR
         
         
    Siili Solutions Plc now holds a total of 29 128 shares
    including the shares repurchased on 14.7.2025  
         
    The share buybacks are executed in compliance with Regulation 
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.
         
    On behalf of Siili Solutions Plc    
         
    Nordea Bank Oyj    
         
    Sami Huttunen Ilari Isomäki  
         
    Further information:    
    CFO Aleksi Kankainen    
    Email: aleksi.kankainen@siili.com    
    Tel. +358 50 584 2029    
         
    www.siili.com    
         
         
         

    Attachment

    The MIL Network

  • MIL-OSI Russia: Financial news: Future rules on the IPO market: results of the discussion of the Bank of Russia report

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    Bank of Russia defined prospects for regulating the IPO market after publicly discussing their initiatives. The proposed measures will contribute to the formation of best practices and improving the quality of IPOs.

    The first part of the changes is aimed at adapting the information disclosed by issuers to the needs of investors. The summary of the securities prospectus will be transformed into a short and clear document, which reflects financial indicators in comparison with previous periods, a description of the company’s development strategy, information on dividend policy and other key information. And the securities prospectus itself will need to include forecast indicators for the coming year.

    Companies are also required to disclose information on the planned and actual distribution of shares among buyers, the existence of restrictions on the sale of securities by the issuer and current shareholders, as well as the mechanisms used to stabilize the price of shares to reduce their volatility after the IPO.

    The regulator plans to establish a new listing condition. When entering an IPO, the issuer must submit at least two independent analytical reports with an assessment of the fair value of the company. They can be prepared by professional participants or audit organizations in the financial market. In their reports, they must reflect all the essential information about the company: the current position on the market and the results of activities, prospects and forecasts for development, possible risks. At the same time, they must justify the methodology of their assessment. As a result, retail investors will have access to high-quality analytics for making informed decisions.

    For third-tier companies, additional guarantees of the reliability of information and the quality of the preparation of issue documentation will be attracted organizations providing services for the preparation of a securities prospectus and (or) the organization of placement. All changes are planned to be prepared by the end of 2025.

    Preview photo: Vink Fan / Shutterstock / Fotodom

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI Europe: Piero Cipollone: The digital euro: legal tender in the digital age

    Source: European Central Bank

    Introductory statement by Piero Cipollone, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament

    Brussels, 14 July 2025

    Thank you for inviting me to take part in this exchange of views. I would like to talk about why we need the digital euro – and the cost of not pursuing it.

    My message is simple. The main reason for issuing a digital euro is to preserve the benefits of cash in the digital era. To do so, we need to complement physical cash with a digital form of cash.

    The inability to use physical cash in online transactions or for digital payments at the point of sale deprives us of a key payment option, reducing resilience, competition, sovereignty and, ultimately, consumers’ freedom to choose how to pay.

    This increases the risks that European consumers, merchants and policymakers face. For a growing number of their transactions, Europeans lack access to central bank money – the money that is backed by the sovereign and has legal tender status, underpinning our monetary union because it is accepted everywhere in the euro area.

    Monetary sovereignty and people’s freedom to pay with legal tender: two sides of the same coin

    The Eurosystem is committed to cash and will continue to issue it.[1] But people’s habits are shifting towards digital payments.

    As the role of online payments has grown, the role of cash in day-to-day transactions has been declining at pace: between 2019 and 2024 its share fell from 68% to 40% in volume terms and from 40% to 24% in value terms.[2]

    This has two important implications.

    First, the role of cash will be significantly reduced if we do not provide a digital equivalent. If we fail to act, we will fail to fulfil our responsibility as a central bank towards the people we serve.

    Second, our monetary sovereignty is eroding. People’s ability to pay across the euro area with sovereign money – cash – and frequently choosing to do so, is a key pillar of monetary sovereignty. A digital form of cash would protect our sovereignty and ensure our monetary union is also a digital monetary union.

    What’s particularly concerning in Europe is that the gap left by declining cash use is being filled by non-European payment solutions. For card payments, only seven out of the 20 euro area countries have a national card scheme. These card schemes cannot be used in other euro area countries and are also losing market share domestically. For e-commerce, European-owned solutions are prevalent in only three euro area countries.[3]

    Strengthening our legal tender to stop the erosion of our monetary sovereignty

    To address this situation, the Single Currency Package protects the rights of those who want to continue to pay with cash, while complementing physical cash with a digital form of the legal tender: the digital euro.

    I believe we are being presented with a false choice: a private pan-euro area payment solution or a public one. First, it is not just about payments; it is about the evolution of the money. And second, it is a historical fact that state-issued money and money issued by private parties have typically coexisted, reinforcing each other.[4]

    The cost of inaction

    Since the start of the euro, we have recognised the need for an integrated retail payments market. This prompted the development of the Single Euro Payments Area (SEPA) to harmonise bank transfers. However, SEPA does not cover key use cases such as payments at the point of sale.

    Over the years, private firms have made several attempts to create a pan-European payment solution, but difficulties in coordinating among market participants prevented those firms from delivering a scalable and unified system.[5] Some 25 years after the launch of the euro, we still have no European payment solution that allows people to pay digitally throughout the euro area in stores, for e‑commerce goods and services and from person to person.

    Let us take a leap of faith. Imagine things would be different this time and that banks would manage to work together to rapidly provide a pan-European private payment solution. Would it still make sense to have the digital euro? The answer is yes.

    First, the digital euro would help preserve money as a public good that is easily accessible to everyone and universally accepted across the euro area. By contrast, private money belongs to the competitive space, so we cannot guarantee its acceptance by all merchants.

    Second, the digital euro would enhance resilience. We would have a reliable fallback in times of crisis, complementing cash. An especially important feature is that the digital euro would also function offline, providing a secure payment method even without an internet connection.[6] Moreover, as is the case with cash, we would be sure that all components of the digital euro remain in European hands.

    Third, the digital euro would prevent market concentration. The availability of legal tender and its wide adoption would put merchants in a stronger position to negotiate fees. In addition, the digital euro would create open standards with a wide acceptance network, making it easier for payment service providers to scale up their solutions. This would result in greater competition and innovation at European level.[7]

    Conclusion

    Let me conclude.

    The Treaty on the Functioning of the European Union entrusts you, the co-legislators, to “lay down the measures necessary for the use of the euro as the single currency.”

    We can together ensure that our currency is fit for the digital age by complementing physical cash and private payment initiatives with digital cash. Indeed, the digital euro is key to preserving the benefits of cash in the digital era.

    MIL OSI Europe News

  • MIL-OSI Australia: Motorcyclist dies following single vehicle crash in Hobart

    Source: New South Wales Community and Justice

    Motorcyclist dies following single vehicle crash in Hobart

    Tuesday, 15 July 2025 – 12:25 am.

    Sadly, a motorcyclist has died following a single vehicle crash in Hobart’s northern suburbs.

    Police and emergency services were called to the MyState Bank Arena carpark near the Brooker Highway about 9pm last night following a report of a serious crash.

    The motorcyclist was taken to the Royal Hobart Hospital in a critical condition but sadly died a short time later.

    Forensics and Crash investigators attended the scene, and police are preparing a report for the Coroner.

    Anyone with information should contact Police on 131444.

    MIL OSI News

  • MIL-OSI Video: ECB Governing Council Press Conference – 24 July 2025

    Source: European Central Bank (video statements)

    ECB President Christine Lagarde explains the Governing Council’s monetary policy decisions and will answer questions from journalists at the Governing Council press conference to be held on Thursday, 24 July 2025 at 14:45 CEST in Frankfurt am Main.

    https://www.youtube.com/watch?v=TxfIvW0tBtk

    MIL OSI Video

  • MIL-OSI China: China issues 12.92 trillion yuan in new loans in H1

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

    China issued 12.92 trillion yuan (about 1.81 trillion U.S. dollars) in new yuan-denominated loans in the first half of the year, the central bank data showed on Monday.

    At the end of June, outstanding yuan loans amounted to 268.56 trillion yuan, up 7.1 percent year on year, according to the People’s Bank of China.

    In the first six months, household loans increased by 1.17 trillion yuan, while loans to enterprises increased by 11.57 trillion yuan.

    The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.3 percent year on year to 330.29 trillion yuan at the end of June.

    The M1, which covers cash in circulation, demand deposits and clients’ reserves of non-banking payment institutions, stood at 113.95 trillion yuan at the end of June, up 4.6 percent year on year.

    The M0, which indicates the amount of cash in circulation, reached 13.18 trillion yuan at the end of June, an increase of 12 percent year on year.

    In the first six months, the net cash injection hit 363.3 billion yuan.

    Deposits in yuan rose by 17.94 trillion yuan in the first six months. The balance of deposits in yuan climbed 8.3 percent year on year to 320.17 trillion yuan at the end of June.

    In the first half of the year, the newly added social financing amounted to 22.83 trillion yuan, representing a 4.74 trillion yuan increase year on year. 

    MIL OSI China News

  • MIL-OSI Economics: RBI to conduct 3-day Variable Rate Reverse Repo (VRRR) auction under LAF on July 15, 2025

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on July 15, 2025, Tuesday, as under:

    Sl. No. Notified Amount
    (₹ crore)
    Tenor
    (day)
    Window Timing Date of Reversal
    1 1,00,000 3 10:00 AM to 10:30 AM July 18, 2025
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/712

    MIL OSI Economics

  • MIL-OSI Economics: RBI to conduct 3-day Variable Rate Reverse Repo (VRRR) auction under LAF on July 15, 2025

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on July 15, 2025, Tuesday, as under:

    Sl. No. Notified Amount
    (₹ crore)
    Tenor
    (day)
    Window Timing Date of Reversal
    1 1,00,000 3 10:00 AM to 10:30 AM July 18, 2025
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/712

    MIL OSI Economics

  • MIL-OSI Economics: RBI to conduct 3-day Variable Rate Reverse Repo (VRRR) auction under LAF on July 15, 2025

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on July 15, 2025, Tuesday, as under:

    Sl. No. Notified Amount
    (₹ crore)
    Tenor
    (day)
    Window Timing Date of Reversal
    1 1,00,000 3 10:00 AM to 10:30 AM July 18, 2025
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/712

    MIL OSI Economics

  • MIL-OSI Banking: Republic of Estonia: 2025 Article IV Consultation-Press Release; and Staff Report

    Source: International Monetary Fund

    Summary

    The Estonian economy is slowly re-emerging from a prolonged downturn but faces structural challenges. Wages growing faster than productivity and permanent increases in input costs, a legacy of previous shocks, are hindering price-sensitive activities, while production with higher technological content is constrained by lack of skilled labor and limited access to capital markets. Geopolitical developments, rising defense spending needs, and preexisting fiscal imbalances pose significant hurdles.

    Subject: Defense spending, Expenditure, External debt, Fiscal policy, Fiscal stance, Income, Inflation, National accounts, Personal income tax, Prices, Public debt, Revenue administration, Taxes

    Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Defense spending, Fiscal stance, Income, Inflation, Personal income tax

    MIL OSI Global Banks

  • MIL-OSI Africa: G20’s ability to respond to multilateral tests critical

    Source: Government of South Africa

    The G20 countries’ ability to respond collectively to mounting challenges facing the multilateral system will determine both the speed of global recovery and the future of sustainable development.

    This is according to National Treasury Director-General, Dr Duncan Pieterse, who delivered remarks at the opening session of the G20 Finance Track meetings being held in KwaZulu-Natal this week.

    “The multilateral system is being tested, and our collective ability to respond, will shape the pace of our recovery, but also the prospects for inclusive and sustainable development. 

    “As the G20, we have the responsibility to demonstrate leadership, and our Presidency places a very strong emphasis on strengthening the role of the G20 in delivering concrete solutions, fostering a more stable and effective and resilient international financial architecture, enhancing debt sustainability, addressing liquidity challenges, as well as strengthening multilateral development banks, and ensuring financing for development,” Pieterse said.

    He added that the meetings take place at a time of heightened global economic uncertainty.

    “While there are signs of resilience in some areas, various challenges remain: uneven growth trajectories, elevated debt levels, persistent inflationary pressures, and the complex implications of tightening financial conditions. 

    “At the same time, various long-term transitions including digitalisation, climate finance and demographic shifts are reshaping the foundations of our economies,” the DG noted.

    Finance track meetings

    Pieterse explained that this week, sessions have been dedicated in line with “our commitment to deepen policy dialogue at the Deputies level”.

    “These discussions are instrumental in shaping the outcomes of the Finance Track, and reaffirming our commitment as the Presidency to Solidarity, Equality, Sustainability,” he said.

    On Monday, the sessions kicked off with an update from the Council of Europe Development Bank on its monitoring and reporting framework.

    “[This framework] is a critical tool for tackling the implementation of the G20 MDB roadmap as it enables MDBs to assess how they are working better as a system, enhancing their effectiveness and maximising developmental impact.

    “This will be followed by a pandemic response financing simulation exercise that will be facilitated by the World Bank and the objective of this exercise is to simulate a coordinated pandemic response financing scenario, enabling participants to explore practical mechanisms for mobilising and deploying resources rapidly and effectively during a global health emergency,” he said.

    On Tuesday, the International Monetary Fund and the World Bank will give updates on the global sovereign debt roundtable.

    “This discussion is geared towards promoting information exchange between the GSDR and the G20 to enhance the effectiveness of both platforms while respecting the distinct roles. 

    “Significant progress has been made on the GSDR work, including the publication of the GSDR playbook on sovereign debt restructurings during the Spring Meetings in April, and another important milestone that was achieved was the publication of a G20 note on the steps of debt restructuring under the common framework,” Pieterse explained.

    On the same day, the Chairperson of the Africa Expert Panel, led by former Minister of Finance for South Africa, Trevor Manuel, will give an update on the work of the panel. 

    “[This] section will provide Deputies with an overview of the work of the Panel, which…aims to advance Africa’s collective development interest within the G20 Finance Track. We will be getting an update from Minister Manuel on this so that we can ensure that we align African priorities with the global economic reform efforts that we are discussing in the G20,” he said.

    Over the next two days, the delegates will have sessions dedicated to the drafting of a communique.

    “We really want to thank the G20 members for very constructive inputs and engagements thus far, which started last week virtually, and we believe that those engagements have set a very strong foundation for our discussions over the next two days.

    “We are very pleased with the collaborative spirit shown during the virtual discussions, and we believe that we are able to achieve agreement in most of the areas which will enable us to provide the Finance Ministers and Central Bank Governors with an opportunity to achieve the first Communique under South Africa’s Presidency,” Pieterse concluded. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI Africa: Turning the Tide: Democratic Republic of Congo’s Emergency Food Production Project Sows Resilience, Plants Hope

    Source: APO – Report:

    In the early morning, the fields stretch as far as the eye can see, bathed in the soft light of the rising sun. In Kwilu, Kasai, and Tshopo provinces of the Democratic Republic of the Congo (DRC), rural communities are reclaiming their land with renewed energy. Here, every furrow in the earth tells a story of resilience and hope.

    These fertile lands have long been trapped in a vicious circle of poor-quality seed, limited access to fertilizers, outdated farming techniques, low yields, and unstable incomes. A tradition of subsistence farming has confined families to day-to-day survival, leaving them vulnerable to climate shocks and food crises.

    That has changed thanks to the deployment of the Emergency Food Production Project (https://apo-opa.co/3TDmJmU) (PURPA in the French acronym), which is being implemented by the African Development Bank (www.AfDB.org) as part of the African Emergency Food Production Facility (https://apo-opa.co/4kAFbr2). The project aims to restore food production in the most vulnerable rural areas of the DRC as rapidly as possible.

    Large-scale distribution of seeds and other agricultural inputs lies at the heart of the project and has delivered a decisive impact:

    • More than 325 tonnes of rice, 388 tonnes of maize and 1.4 million linear metres of cassava cuttings have been distributed, far exceeding initial forecasts.
    • 49,749 farming households have been reached, primarily women, who are often on the front line in the battle to feed their families.

    Villagers in the communities covered by the project are enthusiastic, reflecting a rebirth of hope as the fields come back to life. The seed is in the ground and local people believe the harvest should be sufficient to meet their families’ needs while leaving a surplus for sale on the market.

    Beyond the distributions, PURPA has strengthened the capacities of agricultural research stations such as the one at Kiyaka in Kwilu province in the centre of the country, enabling local production of improved maize and rice seeds. Over 100 tonnes of maize seed, 33 tonnes of rice and 2.55 million cassava cuttings have been produced. The distribution of 334 tonnes of fertilizer also offers a guarantee of suitable and affordable seeds for future seasons.

    Targeted training programmes have also been launched. The Project financed the training of 300 managers and administrative staff, 30% of whom were women, using the “farmers’ field-school” approach with a focus on seed production and technical itineraries. These initiatives not only improve yields but also strengthen the capacities of women and agricultural cooperatives.

    A final push to distribute fertilizer and seed produced by the research centres is scheduled for the coming months. Multiple outcomes are expected: increased farm incomes through the sale of surpluses; the creation of new economic opportunities, particularly for women and young people; significant improvement in food security with a reduction of lean periods; and the development of more autonomous agriculture that is less dependent on external aid.

    Local authorities in several provinces are also observing a reduction in rural exodus as young people return to their towns to participate in this new-style agriculture, attracted by more promising prospects.

    For these communities, the Emergency Food Production Project is not just a response to the global food crisis. It is a veritable “school of resilience” where solidarity, local know-how and agricultural innovation support and encourage each other.

    In these regions of the Democratic Republic of the Congo, farming is no longer just about survival. In these newly seeded fields, it has become a means of development, investment, and heritage. Much remains to be done, but the transformation is underway. In these once fragile rural lands, a conviction is taking root: change, from now on, comes from here.

    – on behalf of African Development Bank Group (AfDB).

    Media files

    .

    MIL OSI Africa

  • CPI inflation at 2.10% in June 2025; food inflation turns negative

    Source: Government of India

    Source: Government of India (4)

    India’s retail inflation for June 2025 has dropped to its lowest level in more than six years, according to the latest data released by the Ministry of Statistics and Programme Implementation. The provisional Consumer Price Index (CPI) shows that headline inflation for June stood at 2.10 percent for the country overall, with rural inflation at 1.72 percent and urban inflation at 2.56 percent. This marks the lowest headline CPI since January 2019, offering a significant respite to households grappling with cost pressures over recent years.

    Food inflation, which has often been the primary driver of household expenses, remained in the negative for the second month in a row. The Combined Consumer Food Price Index (CFPI) recorded a deflation of 1.06 percent in June, with rural areas seeing a 0.92 percent decline and urban areas witnessing a 1.22 percent fall in food prices. Compared to the same period last year, the drop in food inflation has been substantial, mainly due to easing prices of vegetables, pulses, cereals, milk, meat and fish, sugar and spices.

    On a month-on-month basis, headline inflation in June rose by 0.62 percent, while food inflation increased by 1.08 percent, largely in line with seasonal trends and normal price movements. Meanwhile, certain core categories continue to show moderate yet steady increases. Housing inflation in urban areas came in at 3.24 percent, slightly higher than May’s 3.16 percent. Education inflation was recorded at 4.37 percent compared to 4.12 percent in the previous month, while health expenses rose by 4.43 percent, up from 4.34 percent. Transport and communication costs remained stable, increasing marginally to 3.90 percent from 3.85 percent. Fuel and light inflation dropped to 2.55 percent from 2.84 percent in May.

    The ministry highlighted that the price data for this calculation was gathered from over 1,100 urban markets and 1,181 villages, with 100 percent coverage in rural areas and over 98 percent coverage in urban centres. This robust coverage ensures that the estimates reflect prevailing market conditions across the country.

    Economists believe that the sustained decline in food prices will offer relief to households, but they also point out that the persistent rise in services such as health, education and housing requires careful monitoring. The latest figures suggest that inflation is well within the Reserve Bank of India’s target range of 2 to 6 percent, giving policymakers more room to focus on growth and employment in the coming months.

    The final inflation report for June will be released on August 12. Until then, the latest numbers present a clear picture of easing consumer prices and a cautious optimism for economic planners who have been grappling with fluctuating global commodity prices and unpredictable weather patterns affecting agricultural output.

  • CPI inflation at 2.10% in June 2025; food inflation turns negative

    Source: Government of India

    Source: Government of India (4)

    India’s retail inflation for June 2025 has dropped to its lowest level in more than six years, according to the latest data released by the Ministry of Statistics and Programme Implementation. The provisional Consumer Price Index (CPI) shows that headline inflation for June stood at 2.10 percent for the country overall, with rural inflation at 1.72 percent and urban inflation at 2.56 percent. This marks the lowest headline CPI since January 2019, offering a significant respite to households grappling with cost pressures over recent years.

    Food inflation, which has often been the primary driver of household expenses, remained in the negative for the second month in a row. The Combined Consumer Food Price Index (CFPI) recorded a deflation of 1.06 percent in June, with rural areas seeing a 0.92 percent decline and urban areas witnessing a 1.22 percent fall in food prices. Compared to the same period last year, the drop in food inflation has been substantial, mainly due to easing prices of vegetables, pulses, cereals, milk, meat and fish, sugar and spices.

    On a month-on-month basis, headline inflation in June rose by 0.62 percent, while food inflation increased by 1.08 percent, largely in line with seasonal trends and normal price movements. Meanwhile, certain core categories continue to show moderate yet steady increases. Housing inflation in urban areas came in at 3.24 percent, slightly higher than May’s 3.16 percent. Education inflation was recorded at 4.37 percent compared to 4.12 percent in the previous month, while health expenses rose by 4.43 percent, up from 4.34 percent. Transport and communication costs remained stable, increasing marginally to 3.90 percent from 3.85 percent. Fuel and light inflation dropped to 2.55 percent from 2.84 percent in May.

    The ministry highlighted that the price data for this calculation was gathered from over 1,100 urban markets and 1,181 villages, with 100 percent coverage in rural areas and over 98 percent coverage in urban centres. This robust coverage ensures that the estimates reflect prevailing market conditions across the country.

    Economists believe that the sustained decline in food prices will offer relief to households, but they also point out that the persistent rise in services such as health, education and housing requires careful monitoring. The latest figures suggest that inflation is well within the Reserve Bank of India’s target range of 2 to 6 percent, giving policymakers more room to focus on growth and employment in the coming months.

    The final inflation report for June will be released on August 12. Until then, the latest numbers present a clear picture of easing consumer prices and a cautious optimism for economic planners who have been grappling with fluctuating global commodity prices and unpredictable weather patterns affecting agricultural output.

  • CPI inflation at 2.10% in June 2025; food inflation turns negative

    Source: Government of India

    Source: Government of India (4)

    India’s retail inflation for June 2025 has dropped to its lowest level in more than six years, according to the latest data released by the Ministry of Statistics and Programme Implementation. The provisional Consumer Price Index (CPI) shows that headline inflation for June stood at 2.10 percent for the country overall, with rural inflation at 1.72 percent and urban inflation at 2.56 percent. This marks the lowest headline CPI since January 2019, offering a significant respite to households grappling with cost pressures over recent years.

    Food inflation, which has often been the primary driver of household expenses, remained in the negative for the second month in a row. The Combined Consumer Food Price Index (CFPI) recorded a deflation of 1.06 percent in June, with rural areas seeing a 0.92 percent decline and urban areas witnessing a 1.22 percent fall in food prices. Compared to the same period last year, the drop in food inflation has been substantial, mainly due to easing prices of vegetables, pulses, cereals, milk, meat and fish, sugar and spices.

    On a month-on-month basis, headline inflation in June rose by 0.62 percent, while food inflation increased by 1.08 percent, largely in line with seasonal trends and normal price movements. Meanwhile, certain core categories continue to show moderate yet steady increases. Housing inflation in urban areas came in at 3.24 percent, slightly higher than May’s 3.16 percent. Education inflation was recorded at 4.37 percent compared to 4.12 percent in the previous month, while health expenses rose by 4.43 percent, up from 4.34 percent. Transport and communication costs remained stable, increasing marginally to 3.90 percent from 3.85 percent. Fuel and light inflation dropped to 2.55 percent from 2.84 percent in May.

    The ministry highlighted that the price data for this calculation was gathered from over 1,100 urban markets and 1,181 villages, with 100 percent coverage in rural areas and over 98 percent coverage in urban centres. This robust coverage ensures that the estimates reflect prevailing market conditions across the country.

    Economists believe that the sustained decline in food prices will offer relief to households, but they also point out that the persistent rise in services such as health, education and housing requires careful monitoring. The latest figures suggest that inflation is well within the Reserve Bank of India’s target range of 2 to 6 percent, giving policymakers more room to focus on growth and employment in the coming months.

    The final inflation report for June will be released on August 12. Until then, the latest numbers present a clear picture of easing consumer prices and a cautious optimism for economic planners who have been grappling with fluctuating global commodity prices and unpredictable weather patterns affecting agricultural output.

  • MIL-OSI Banking: ADB Approves $101 Million Loan to Strengthen Drinking Water Services in West Bengal

    Source: Asia Development Bank

    ADB has approved a $101 million loan as additional financing to the ongoing West Bengal Drinking Water Sector Improvement Project to scale up access to safe, sustainable, and inclusive drinking water services in rural West Bengal, particularly in areas affected by arsenic, fluoride, and salinity contamination.

    MIL OSI Global Banks

  • MIL-OSI Africa: Unlocking Opportunity: How India can Harness the Africa Corridor to Grow Merchandise Exports (By Shivank Goel)

    Source: APO


    .

    By Shivank Goel, an Indo-Africa Corridor Specialist at RMB (www.RMB.co.za)

    At GTR Africa 2025, a diverse panel of experts – including representatives from the Reserve Bank of India’s research wing, MSME chambers and leading financial institutions – explored the question of how India can double its export trade to reach the government’s target of $2 trillion by 2030. In 2024, India’s exports of goods and services were estimated at over $800 billion, up 5.6% year on year. Yet services continue to outpace goods, with an eight-percentage-point lead in growth.

    For India to achieve a more balanced export profile and reach its national targets, boosting merchandise exports is imperative. Africa stands out as a significant factor in helping India achieve its ambitious goals, particularly as a market for Indian merchandise exports. Financial institutions have a substantial role to play in supporting this trade and unlocking the opportunities within the India-Africa corridor.

    A growth market with strategic alignment 

    Africa is home to some of the fastest-growing economies in the world. Across sectors such as infrastructure, pharmaceuticals, automotive components, agriculture, and consumer goods, Indian products are already gaining traction. Shared cultural and historical ties, a largely English-speaking business environment, and similar developmental goals in education, technology, healthcare, and infrastructure position the two regions as natural trade partners. 

    With the establishment of the African Continental Free Trade Area (AfCFTA), Africa is poised to become more integrated with an addressable market of 1.2 billion people, $3.4 trillion in GDP, and reduced intra-continental tariffs. This transforms the way Indian exporters can approach the region, moving from fragmented country-specific strategies to viewing Africa as a unified, high-growth destination, not only for trade but also for embedding into the region as a way to participate in the global value chain.

    Financial and structural hurdles to overcome 

    Although this opportunity is promising, Indian exporters, particularly micro, small and medium enterprises (MSMEs), face several challenges in navigating African markets. One of the most significant hurdles is logistical complexity, including infrastructure constraints in certain regions, which can disrupt supply chains and increase the cost and time of moving goods across borders.

    Another key concern is partner and counterparty risk. In many cases, assessing the creditworthiness of potential trading partners is difficult, and this uncertainty can deter Indian firms from entering new markets. Exporters must also contend with foreign exchange volatility and concerns about the timely and secure repatriation of funds, which can further complicate trade with certain African countries.

    In addition, many exporters – particularly newer or smaller firms – struggle to access the working capital and trade finance required to scale operations or explore new markets. These financing gaps can limit their ability to take advantage of the growing opportunities presented by Africa’s expanding consumer base and regional trade integration.

    Overcoming these barriers requires a holistic financial approach that combines a deep understanding of local markets with tailored credit solutions, risk mitigation tools, and long-term partnership models.

    Digitisation is a critical enabler of trade finance 

    As global trade becomes increasingly volatile due to shifting tariffs, regulatory uncertainty, and tightening cycles, efficiency and agility are critical. Digital transformation plays a pivotal role in reducing costs and improving access to finance.

    Innovations such as e-bills of lading, blockchain-based guarantees, and the use of machine learning and AI for document verification and compliance checks can reduce delays and human error in cross-border trade processes. While traditional trade finance cycles can take 60 to 90 days, digital solutions allow exporters to respond quickly to market changes and manage cash flow more effectively.

    Banks and financiers investing in African-led digitisation efforts are well placed to support Indian exporters entering or expanding in the region. By building digital platforms that align with local regulatory environments and business norms, financial partners can help unlock a new era of trade connectivity between the two regions. 

    Leveraging AfCFTA for regional and global value chains 

    One of the most powerful tools available to Indian exporters is the ability to use Africa not just as an end market but also as a base for regional and global value chain participation. With AfCFTA aiming to eliminate trade barriers between African nations, a company that invests or establishes operations in one country could potentially access the entire continent tariff-free. 

    This opens new opportunities to move up the value chain through manufacturing, technology transfer, and joint ventures that foster local capacity while increasing India’s global trade footprint. It also encourages long-term thinking and investment in the corridor, for shared prosperity, rather than short-term export opportunism. 

    The need for skills and inclusive innovation 

    Export growth cannot happen in a vacuum. Both India and Africa need to invest in upskilling and reskilling their workforces, particularly in fields like engineering, logistics, manufacturing, and infrastructure. Encouraging more people to pursue careers in these sectors is essential in building long-term trade resilience. 

    Technology must be made accessible and inclusive, with tools and training offered in local languages and tailored to diverse educational backgrounds. The goal is not to replace people with machines, but to empower people to work more effectively with technology, enhancing efficiency, accuracy, and productivity, particularly in the areas of financing and trade compliance. 

    The role of diplomacy 

    India’s growing diplomatic and economic engagement with Africa is already yielding results. During its presidency of the G20 in 2023, India championed the inclusion of the African Union as a permanent member, highlighting its ambition to serve as a voice for the Global South. 

    Today, India is collaborating with African nations on digital infrastructure, payment platforms, energy projects, naval cooperation, and more. From tech stack adoption in countries like Ghana and Angola, to partnerships between Indian public sector firms and African energy providers, the bilateral relationship is rapidly deepening. 

    To accelerate trade, policy frameworks on both sides must evolve to support openness, competition, and innovation. Incentives for exporters, joint R&D investments, streamlined customs procedures, and predictable regulations will all play a critical role. 

    Building a corridor for shared prosperity 

    The India–Africa trade corridor represents one of the most promising frontiers for growing Indian merchandise exports in the coming decade. The geopolitical environment is increasingly supportive, and there is significant scale and numerous synergies that can be leveraged for expansion.  

    By investing in digital transformation, financial access, skills development, and long-term policy alignment, stakeholders across the trade ecosystem, from governments and banks to MSMEs and large corporates, can build a corridor that delivers shared growth and resilience. Africa is not just a market to be tapped; it has the potential to become a strategic partner for India in shaping the future of global trade. 

    Distributed by APO Group on behalf of Rand Merchant Bank.

    About the Author:
    Shivank Goel is an Indo-Africa Corridor Specialist at RMB. He was a panellist at GTR Africa 2025, contributing to the discussion on policy and finance strategies to accelerate India’s merchandise exports and strengthen the India–Africa trade corridor. 

    MIL OSI Africa

  • MIL-OSI: Dime Adds Lender Finance Vertical

    Source: GlobeNewswire (MIL-OSI)

    HAUPPAUGE, N.Y., July 14, 2025 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced today that Jason Brenner and Zack Schwartz were named Co-Heads of a newly established Lender Finance vertical.

    Brenner was most recently Managing Director and Head of Originations for Non-Real Estate Lender Finance at AXOS Bank. Schwartz was most recently Director and Underwriting Team Lead at First Citizens Bank. Both will be based in Manhattan and report to Shawn Gines, Executive Vice President, Corporate and Specialty Finance.

    Stuart H. Lubow, President and Chief Executive Officer of Dime, said, “We are excited to announce the hiring of Jason and Zack. They will each play an integral role in the continued diversification of Dime’s commercial lending businesses. Adding their expertise allows us to deepen our focus on lender finance, with a dedicated vertical to support our private equity and private credit clients.”

    Tom Geisel, Dime’s Senior Executive Vice President of Commercial Lending, said, “We continue to diversify our client offerings and with the addition of Lender Finance, we now have five distinct verticals (Healthcare, Lender Finance, Mid-Corporate, Fund Finance and Not-For-Profit Lending) that will contribute to our future growth. Jason and Zack’s background and experience will continue to accelerate our platform buildout.”

    ABOUT DIME COMMUNITY BANCSHARES, INC.

    Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island (1).

    Dime Community Bancshares, Inc.
    Investor Relations Contact:
    Avinash Reddy
    Senior Executive Vice President – Chief Financial Officer
    Phone: 718-782-6200; Ext. 5909
    Email: avinash.reddy@dime.com

    ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

    FORWARD-LOOKING STATEMENTS
    Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.

    The MIL Network

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

    Source: Hong Kong Government special administrative region

    Analytical Accounts of the Exchange Fund 
    Foreign assets, representing the external assets of the Exchange Fund, increased during the month by HK$9.5 billion to HK$3,596.2 billion.
     
    The Monetary Base, comprising Certificates of Indebtedness, Government-issued currency notes and coins in circulation, the balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$2,120.2 billion.
     
    Claims on the private sector in Hong Kong amounted to HK$349.4 billion.
     
    Foreign liabilities amounted to HK$31.0 billion.
     
    The analytical accounts of the Exchange Fund are released in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex).
     
    *********************************************************
     
    At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s SDDS. The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of July 2025, the scheduled dates for issuing the press releases are as follows:
     

    July 7
    (Issued)(Hong Kong’s Latest Foreign Currency Reserve Assets Figures) (Analytical Accounts of the Exchange Fund) 
     Foreign Currency Liquidity Currency Board AccountIssued at HKT 19:14

    NNNN

    MIL OSI Asia Pacific News

  • PMKVY trains 1.63 crore in 10 years, empowers workforce across traditional and emerging sectors

    Source: Government of India

    Source: Government of India (4)

    PMKVY has evolved from a large-scale training initiative into a dynamic tool for national development. After its initial pilot skilled almost 20 lakh candidates, PMKVY 2.0 expanded to strategically support the ‘Make in India’ and ‘Digital India’ campaigns, training 1.10 crore candidates. PMKVY 3.0 focused on precision-targeted training, seamlessly aligning with the National Education Policy and rapidly equipping COVID-19 frontline workers to meet the nation’s most urgent needs. This phase integrated training modules such as the Customised Crash Course Programme for COVID Warriors (CCCP for CW) and the Skill Hub Initiative (SHI), which mainstreamed vocational training with general education as envisaged under the National Education Policy, 2020. Under PMKVY 4.0, over 25 lakh candidates have been trained in the last three years, bringing the total number of trained candidates to 1.63 crore. The training imparted under PMKVY makes candidates employable in diverse industries like manufacturing, construction, healthcare, IT, electronics, and retail.

    Since its inception in 2015, PMKVY has steadily evolved into a key pillar of the Skill India Mission (SIM), aiming to bridge the gap between youth aspirations and employability through structured, industry-aligned training. The programme has expanded far beyond short-term courses, now encompassing apprenticeships, entrepreneurship support, global workforce readiness, and traditional crafts preservation.

    As of July 11, over 25 lakh youth have been trained under PMKVY 4.0—the latest phase of the scheme—reflecting a significant leap toward preparing India’s youth for both domestic and international job markets. This version of the programme integrates cutting-edge features like digital tracking, AI-based analytics, credit portability through the Academic Bank of Credits, and links with the Skill India Digital Hub to provide a seamless experience connecting training, education, and employment.

    An Integrated Approach to Skill Development

    The broader Skill India Mission was restructured in 2022 to unify PMKVY, the National Apprenticeship Promotion Scheme (PM-NAPS), and the Jan Shikshan Sansthan (JSS) scheme under a single framework, enhancing operational efficiency and maximising outreach across both urban and rural areas.

    PMKVY began as a pilot in 2015–16, training nearly 20 lakh individuals. It scaled up significantly with PMKVY 2.0, aligning with national missions such as Make in India, Swachh Bharat, and Digital India. The subsequent version, PMKVY 3.0, responded to emerging challenges, launching initiatives like the Skill Hub (aligned with NEP 2020) and a crash course programme for frontline COVID-19 workers, training over 1.2 lakh health personnel.

    Inclusion and Innovation at the Core

    At the heart of PMKVY lies an unwavering focus on inclusion. Nearly 45% of the trained candidates are women, with strong representation from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC). The scheme also undertook region- and community-specific projects: training Bru-tribe youth in Tripura, vocational programmes for prison inmates in Assam and Manipur, and upskilling women in Jammu & Kashmir through Namda craft revival initiatives.

    PMKVY’s Recognition of Prior Learning (RPL) component has played a crucial role in certifying the skills of informal sector workers—especially artisans and weavers in J&K and Nagaland—without the need for extended training, boosting their mobility in the job market.

    Balancing Heritage with Future-Ready Skills

    One of PMKVY’s defining strengths has been its dual focus—preserving traditional skills while embracing future technologies. Beneficiaries are being equipped for careers in manufacturing, healthcare, electronics, retail, and IT, but increasingly also in emerging fields like drones, mechatronics, AI, and the Internet of Things.

    In this effort, Centres of Excellence launched at National Skill Training Institutes (NSTIs) in Hyderabad and Chennai in June 2025 are set to become national reference points for high-quality instructor training and specialised skilling.

    Complementary Schemes Expanding the Skilling Ecosystem

    The momentum created by PMKVY has been bolstered by several complementary schemes. The PM Vishwakarma Yojana, launched in 2023, aims to support artisans from 18 traditional trades with training, toolkits, credit access, and marketing support. As of July 2025, over 2.7 crore applications have been received, with 29 lakh registrations completed.

    Meanwhile, the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), which targets rural youth, has trained nearly 17 lakh individuals since its launch in 2014, with over 11 lakh successfully placed in employment. Rural Self Employment Training Institutes (RSETIs), operated in partnership with banks, have trained more than 56 lakh people this financial year alone, fostering entrepreneurship in rural India.

  • MIL-OSI Russia: China’s Yuan-denominated loans grew by 12.92 trillion yuan in the first half of 2025

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 14 (Xinhua) — China’s renminbi (yuan) loans increased by 12.92 trillion yuan (about 1.81 trillion U.S. dollars) in the first six months of 2025, data from the People’s Bank of China (PBOC, the central bank) showed Monday. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News

  • MIL-OSI: Enerflex Ltd. Announces Extension of Revolving Credit Facility and Timing of Second Quarter Release

    Source: GlobeNewswire (MIL-OSI)

    All amounts presented in this release are in U.S. Dollar (“USD”) unless otherwise stated.

    CALGARY, Alberta, July 14, 2025 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) is pleased to announce that the Company has entered into an amended and restated credit agreement dated July 11, 2025 with respect to its syndicated secured revolving credit facility (the “RCF”). The maturity date of the RCF has been extended by three years to July 11, 2028 and availability is unchanged at $800 million. As at March 31, 2025, the Company had drawn $117 million on its RCF. Led by the Royal Bank of Canada as agent, Enerflex received renewed lending commitments from all current syndicate members.

    The Company also continues to maintain a $70 million unsecured credit facility (the “LC Facility”) with one of the lenders in its RCF syndicate. The LC Facility is supported by performance security guarantees provided by Export Development Canada.

    Joe Ladouceur, Enerflex’s CFO (Interim), commented, “We appreciate the strong support and continued partnership from our lending syndicate. The renewal of the RCF provides Enerflex with strong liquidity and improved terms, supporting efforts to deliver long-term growth and value creation for Enerflex shareholders.

    Enerflex’s near-term priorities remain unchanged and include: (1) enhancing the profitability of core operations; (2) leveraging the Company’s leading position in core operating countries to capitalize on expected increases in natural gas and produced water volumes; and (3) maximizing free cash flow to further strengthen Enerflex’s financial position, provide direct shareholder returns, and invest in selective customer supported growth opportunities.”

    Q2 Earnings Release

    Enerflex plans to release its financial results and operating highlights for the three and six months ended June 30, 2025, prior to the markets opening on Thursday, August 7, 2025. Results will be communicated by news release and will be available on the Company’s website at www.enerflex.com and under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    Investors, analysts, members of the media, and other interested parties, are invited to listen to or participate in a conference call and audio webcast on Thursday, August 7, 2025 at 8:00 a.m. (MDT), where members of senior management will discuss the Company’s results. A question-and-answer period will follow.

    Those wishing to listen or participate may register at https://register-conf.media-server.com/register/BI5f86b18a965d4257a4408154efdc3493. Once registered, participants will receive the dial-in numbers and a unique PIN to enter the call. The audio webcast of the conference call will be available on the Enerflex website at www.enerflex.com under the Investors section or can be accessed directly at https://edge.media-server.com/mmc/p/b7388nss/.

    ADVISORY REGARDING FORWARD-LOOKING INFORMATION

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “efforts”, “expected”, “may”, “plan”, “will”, and similar expressions, are intended to identify FLI. In particular, this news release includes (without limitation) FLI pertaining to the Company’s (i) continuing efforts to deliver long-term growth and value creation for Enerflex shareholders and the nature and success of such efforts, if at all; (ii) expectations for increases in natural gas and produced water volumes and the ability of the Company to capitalize on these increases; (iii) ability to continue to deliver direct shareholder returns; and (iv) expectation to release its financial results and operating highlights for the three and six months ended June 30, 2025, prior to the markets opening on Thursday, August 7, 2025.

    FLI reflects management’s current beliefs and assumptions with respect to such things as the impact of general economic conditions; commodity prices; the markets in which Enerflex’s products and services are used; general industry conditions, forecasts, and trends; changes to, and introduction of new, governmental regulations, laws, and income taxes; increased competition; availability of qualified personnel; political unrest and geopolitical conditions; and other factors, many of which are beyond the control of Enerflex. More specifically, Enerflex’s expectations in respect of its FLI are based on a number of assumptions, estimates and projections developed based on past experience and anticipated trends and, in respect of increases in natural gas and produced water volumes, industry third party data. As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties and other factors affecting Enerflex and its business are identified under the heading “Risk Factors” in: (i) Enerflex’s Annual Information Form for the year ended December 31, 2024, dated February 27, 2025; and (ii) Enerflex’s Annual Report dated February 26, 2025, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    Readers are cautioned that the foregoing list of assumptions and risk factors should not be construed as exhaustive. The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.

    ABOUT ENERFLEX

    Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

    Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.

    For investor and media enquiries, contact:

    Preet S. Dhindsa
    President and Chief Executive Officer (Interim)
    E-mail: PDhindsa@enerflex.com

    Joe Ladouceur
    Chief Financial Officer (Interim)
    E-mail: JLadouceur@enerflex.com

    Jeff Fetterly
    Vice President, Corporate Development and Capital Markets
    E-mail: JFetterly@enerflex.com

    The MIL Network

  • MIL-OSI: Enerflex Ltd. Announces Extension of Revolving Credit Facility and Timing of Second Quarter Release

    Source: GlobeNewswire (MIL-OSI)

    All amounts presented in this release are in U.S. Dollar (“USD”) unless otherwise stated.

    CALGARY, Alberta, July 14, 2025 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) is pleased to announce that the Company has entered into an amended and restated credit agreement dated July 11, 2025 with respect to its syndicated secured revolving credit facility (the “RCF”). The maturity date of the RCF has been extended by three years to July 11, 2028 and availability is unchanged at $800 million. As at March 31, 2025, the Company had drawn $117 million on its RCF. Led by the Royal Bank of Canada as agent, Enerflex received renewed lending commitments from all current syndicate members.

    The Company also continues to maintain a $70 million unsecured credit facility (the “LC Facility”) with one of the lenders in its RCF syndicate. The LC Facility is supported by performance security guarantees provided by Export Development Canada.

    Joe Ladouceur, Enerflex’s CFO (Interim), commented, “We appreciate the strong support and continued partnership from our lending syndicate. The renewal of the RCF provides Enerflex with strong liquidity and improved terms, supporting efforts to deliver long-term growth and value creation for Enerflex shareholders.

    Enerflex’s near-term priorities remain unchanged and include: (1) enhancing the profitability of core operations; (2) leveraging the Company’s leading position in core operating countries to capitalize on expected increases in natural gas and produced water volumes; and (3) maximizing free cash flow to further strengthen Enerflex’s financial position, provide direct shareholder returns, and invest in selective customer supported growth opportunities.”

    Q2 Earnings Release

    Enerflex plans to release its financial results and operating highlights for the three and six months ended June 30, 2025, prior to the markets opening on Thursday, August 7, 2025. Results will be communicated by news release and will be available on the Company’s website at www.enerflex.com and under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    Investors, analysts, members of the media, and other interested parties, are invited to listen to or participate in a conference call and audio webcast on Thursday, August 7, 2025 at 8:00 a.m. (MDT), where members of senior management will discuss the Company’s results. A question-and-answer period will follow.

    Those wishing to listen or participate may register at https://register-conf.media-server.com/register/BI5f86b18a965d4257a4408154efdc3493. Once registered, participants will receive the dial-in numbers and a unique PIN to enter the call. The audio webcast of the conference call will be available on the Enerflex website at www.enerflex.com under the Investors section or can be accessed directly at https://edge.media-server.com/mmc/p/b7388nss/.

    ADVISORY REGARDING FORWARD-LOOKING INFORMATION

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “efforts”, “expected”, “may”, “plan”, “will”, and similar expressions, are intended to identify FLI. In particular, this news release includes (without limitation) FLI pertaining to the Company’s (i) continuing efforts to deliver long-term growth and value creation for Enerflex shareholders and the nature and success of such efforts, if at all; (ii) expectations for increases in natural gas and produced water volumes and the ability of the Company to capitalize on these increases; (iii) ability to continue to deliver direct shareholder returns; and (iv) expectation to release its financial results and operating highlights for the three and six months ended June 30, 2025, prior to the markets opening on Thursday, August 7, 2025.

    FLI reflects management’s current beliefs and assumptions with respect to such things as the impact of general economic conditions; commodity prices; the markets in which Enerflex’s products and services are used; general industry conditions, forecasts, and trends; changes to, and introduction of new, governmental regulations, laws, and income taxes; increased competition; availability of qualified personnel; political unrest and geopolitical conditions; and other factors, many of which are beyond the control of Enerflex. More specifically, Enerflex’s expectations in respect of its FLI are based on a number of assumptions, estimates and projections developed based on past experience and anticipated trends and, in respect of increases in natural gas and produced water volumes, industry third party data. As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties and other factors affecting Enerflex and its business are identified under the heading “Risk Factors” in: (i) Enerflex’s Annual Information Form for the year ended December 31, 2024, dated February 27, 2025; and (ii) Enerflex’s Annual Report dated February 26, 2025, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    Readers are cautioned that the foregoing list of assumptions and risk factors should not be construed as exhaustive. The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.

    ABOUT ENERFLEX

    Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

    Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.

    For investor and media enquiries, contact:

    Preet S. Dhindsa
    President and Chief Executive Officer (Interim)
    E-mail: PDhindsa@enerflex.com

    Joe Ladouceur
    Chief Financial Officer (Interim)
    E-mail: JLadouceur@enerflex.com

    Jeff Fetterly
    Vice President, Corporate Development and Capital Markets
    E-mail: JFetterly@enerflex.com

    The MIL Network

  • MIL-OSI Europe: Italy: EIB and Mediobanca make available €200 million in new finance to microenterprises and female-led entrepreneurs

    Source: European Investment Bank

    EIB

    • A €100 million loan has been granted by the EIB to Mediobanca to improve access to finance for Italian small businesses
    • The agreement aims to mobilise up to €200 million in new finance for the real economy
    • 60% of the funding will be earmarked for microenterprises and 20% for gender equality and women’s economic empowerment, with also a focus on regions in central and southern Italy

    The European Investment Bank (EIB) and Mediobanca have signed a new €100 million agreement designed to improve access to credit for Italian small and medium-sized enterprises (SMEs), with a particular focus on microenterprises, female-led entrepreneurs and businesses operating in cohesion regions.

    This €100 million contract was signed by EIB Vice-President Gelsomina Vigliotti and Group Chief Financial Officer of Mediobanca Emanuele Flappini. This is the first agreement between the EIB and Mediobanca in which the funds will be primarily intermediated by Mediobanca’s subsidiary, Compass Banca. It is estimated that the EIB’s funding will help unlock up to €200 million of new finance for the real economy.

    The funds made available by the EIB will be deployed by Mediobanca in the form of new loans on favourable terms, aimed at boosting the competitiveness of beneficiary companies and fostering new investments. Of the total financing for Italian small businesses, 60% of the funds will be reserved for microenterprises (companies with fewer than 10 employees), while 20% will be allocated to companies led by women or to projects that contributes to promote gender equality. Special attention will be paid also to companies operating in cohesion regions in central and southern Italy.

    EIB Vice-President Gelsomina Vigliotti said: “Supporting access to credit for microenterprises, female-led entrepreneurs and businesses operating in less developed regions of Italy means investing in the future of the country. Inclusion and territorial development are two key pillars of the EIB’s investment strategy: no real growth can prosper unless it is equally distributed, and no innovation exists if whole regions or segments of the working population are excluded. With this agreement, we aim to make the Italian economy more cohesive, dynamic and sustainable.”

    Group Chief Financial Officer of Mediobanca Emanuele Flappini said: “Promoting the growth of Italian companies has always been our goal, a commitment that has gradually adapted to the changing needs of today’s economy, which now mostly comprises small and medium-sized businesses. We are therefore delighted to begin this collaboration with the European Investment Bank. We aim to commit more funds to microenterprises, paying particular attention to female entrepreneurs and areas of the country facing major difficulties, and in this way develop a plan enabling us to express ‘responsible banking’ values, a distinctive factor of our DNA, which will help create a more cohesive, dynamic and sustainable Italian economy.”

    Background information

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. In the last five years, the EIB Group has provided more than €58 billion in financing for projects in Italy. All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation and adaptation, and a healthier environment. Around half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower.

    MIL OSI Europe News

  • MIL-OSI Europe: Text adopted – Future of the EU biotechnology and biomanufacturing sector: leveraging research, boosting innovation and enhancing competitiveness – P10_TA(2025)0165 – Thursday, 10 July 2025 – Strasbourg

    Source: European Parliament

    The European Parliament,

    –  having regard to the Treaty on the Functioning of the European Union (TFEU), in particular Articles 9, 151, 152, 153(1) and (2) thereof, as well as Articles 173 and 179 thereof, which concern EU industrial policy and research and refer to, among other things, the competitiveness of the Union’s industry and the strengthening of the Union’s scientific and technological bases,

    –  having regard to the Treaty on European Union, in particular Article 5(3) thereof and Protocol No 2 thereto on the application of the principles of subsidiarity and proportionality,

    –  having regard to the Commission communication of 20 March 2024 entitled ‘Building the future with nature: Boosting Biotechnology and Biomanufacturing in the EU’ (COM(2024)0137),

    –  having regard to the report by Mario Draghi of 9 September 2024 entitled ‘The future of European competitiveness’,

    –  having regard to the Commission communication of 29 January 2025 entitled ‘A Competitiveness Compass for the EU’ (COM(2025)0030),

    –  having regard to the Commission communication of 26 February 2025 entitled ‘The Clean Industrial Deal: A joint roadmap for competitiveness and decarbonisation’ (COM(2025)0085),

    –  having regard to the Commission communication of 11 December 2019 entitled ‘The European Green Deal’ (COM(2019)0640),

    –  having regard to the report by Enrico Letta of 10 April 2024 entitled ‘Much more than a market’,

    –  having regard to the Commission communication of 19 February 2025 entitled ‘A Vision for Agriculture and Food – Shaping together an attractive farming and agri-food sector for future generations’ (COM(2025)0075),

    –  having regard to Rule 55 and Rule 148(2) of its Rules of Procedure,

    –  having regard to the report of the Committee on Industry, Research and Energy (A10-0123/2025),

    A.  whereas the EU biotechnology and biomanufacturing sector has been recognised as one of 10 strategic technology sectors for Europe’s competitiveness, economic security and sustainability; whereas the sector is characterised by very high productivity, growth and employment, and delivers globally competitive, cutting-edge solutions in healthcare, life sciences, industrial production and transformation, sustainable biomanufacturing, energy and food security; whereas biotechnology and biomanufacturing are important enablers of the bioeconomy at large; whereas biotechnology and biomanufacturing can help enhance the EU’s strategic autonomy, resilience and circularity by reducing industry’s dependency on fossil-based input and other external dependencies in various sectors; whereas the biotechnology and biomanufacturing sector still faces regulatory and financial obstacles and an incomplete internal market; whereas the Commission is expected to present an EU biotech act, an updated EU bioeconomy strategy, an EU life sciences strategy, an EU innovation act and an EU circular economy act;

    B.  whereas according to the Organisation for Economic Co-operation and Development (OECD), biotechnology is defined as the application of science and technology to living organisms, as well as parts, products and models thereof, to alter living or non-living materials for the production of knowledge, goods and services; whereas biomanufacturing is not clearly defined and the Commission should therefore propose such a definition; whereas a definition of biomanufacturing should be future-proof, open to scientific and technological developments, and technology neutral, so as to broadly encompass the use of biotechnology or other technologies for the production of bio-based material products and solutions including, but not limited to, chemical, mechanical or thermal processes;

    C.  whereas the biotech and biomanufacturing industries have led the development and deployment of breakthrough innovations in healthcare, such as mRNA-based vaccines; whereas biotechnology processes can be used to manufacture active pharmaceutical ingredients and key manufacturing inputs for medicines;

    D.  whereas the COVID-19 pandemic highlighted the importance of having robust raw material value chains and manufacturing capabilities within Europe, to ensure security of supply of critical products and to mitigate shortages, for example of essential medicines;

    E.  whereas artificial intelligence (AI) can help drive biotechnology innovation – e.g. in personalised medicine and drug discovery – resulting in health and environmental benefits; whereas the use of AI in biotechnology can also present ethical challenges and risks, related to the protection of private data, which need to be addressed in order to maintain public trust and acceptance;

    F.  whereas biotechnology is applied in various aspects of animal and plant-based agriculture and also indirectly, through its use in activities such as waste management;

    G.  whereas biotechnology can strengthen the resilience of forests and, in the case of biomanufacturing, the forest sector can offer sustainably produced, renewable and recyclable raw materials that can be used in high-value innovative products, materials and applications;

    H.  whereas the EU is a global leader in research and biomanufacturing capacity, yet its potential remains unexploited due to the lack of a sufficiently coordinated policy framework that enables the efficient scaling up of innovation, the attraction of investment and the commercialisation of new technologies; whereas the ‘one in, one out’ approach ensures that all burdens introduced by Commission initiatives are considered, and administrative burdens are offset by removing burdens of equivalent value in the same policy area at EU or Member State level; whereas Parliament has called for the EU’s research budget to be doubled; whereas EU private investment in research, development and innovation is lagging behind other major economies; whereas promoting investment in pioneering demo and commercial production plants can accelerate the commercialisation of EU innovation in the bio-based industries;

    I.  whereas urgent, coherent and consistent action needs to be taken during the next few years to make the EU a world leader in biotechnology, biomanufacturing and life sciences effecting a bold level of change, in accordance with due process and supported by competitiveness checks and adequate funding;

    J.  whereas lengthy and complex authorisation procedures, particularly concerning approval times, represent a competitive disadvantage for EU operators and drive project developers out of the EU, and hinder industrial deployment and growth;

    K.  whereas current EU regulatory frameworks do not cater precisely to the specificities of bio-based products; whereas the existing regulatory authorisation processes for biotech products needs to be urgently addressed to ensure that the EU remains globally competitive; whereas an effective regulatory framework for conducting clinical research is essential for the competitiveness of the most innovation-intensive aspects of the EU’s pharmaceutical and biotechnology sectors; whereas the Commission should take account of the regulatory frameworks of non-EU countries leading in the biotechnology and biomanufacturing sector, in the context of existing and future EU legislation covering the industry, to ensure compatibility without lowering existing EU safety and environmental standards;

    L.  whereas the EU’s biotechnology and biomanufacturing investment and venture capital ecosystem remains fragmented; whereas high energy prices, regulatory burdens, barriers, and a lack of available key feedstock, raw materials and components are limiting the ability of start-ups and other small and medium-sized enterprises (SMEs) to scale up, and limit large-scale deployment; whereas EU biomanufacturing capacity and supply chain resilience, including the availability of feedstock, are essential to reduce dependence on non-EU actors; whereas effective global supply chains – including strategic partnerships with reliable global actors – are also important to secure stable access to critical resources, avoid supply disruptions and foster continuous innovation in essential technologies;

    M.  whereas bio-based feedstocks, such as sustainably sourced biomass, recycled waste and CO2 captured from biogenic sources, could be used as alternative feedstocks for the manufacturing of, for example, polymers, plastics, solvents, paints, detergents, cosmetics and pharmaceuticals, thereby contributing to EU emission reduction, resource efficiency and strategic autonomy; whereas the EU could further incentivise market demand and market uptake for sustainable bio-based products and materials;

    N.  whereas it is vital to increase the use of sustainable bio-based raw materials as part of the means of reaching the EU’s 2050 climate targets; whereas biotechnology has the potential to transform the refinery and chemical industry towards biomanufacturing, thereby reducing greenhouse gas emissions, in line with the EU’s climate objectives;

    O.  whereas biotechnology and biomanufacturing are regulated across many different regulatory frameworks; whereas current EU regulatory frameworks for biotechnology and biomanufacturing are inconsistent across sectors, creating legal uncertainty and slowing market access for innovative solutions; whereas the lengthy authorisation processes, particularly concerning approval times, need to be urgently addressed and improved, while maintaining a risk- and science-based approach, to compete with corresponding time frames outside the EU; whereas the use of regulatory sandboxes should be expanded to ensure that emerging technologies have a clear development pathway; whereas new EU-wide regulation in the form of an EU biotech act should be duly justified based on examples of concrete gaps and shortcomings in current legislation and implementation, focusing on the specificities of the industry;

    P.  whereas a coherent, robust and future-proof intellectual property (IP) framework is essential, ideally resulting in economic, environmental and societal benefits;

    Q.  whereas public awareness in the EU of biotechnology and biomanufactured products should be further strengthened, in order to boost public acceptance; whereas the ethical aspects of biotechnology should be considered; whereas stakeholder consultation plays a crucial role in shaping responsible and ethical biotechnology policies; whereas civil society can play an essential role in ensuring public trust;

    R.  whereas the engineering of DNA and organisms is increasingly carried out in automated biofoundries, which produce a wealth of data and improved designs and knowledge of biological functions;

    S.  whereas the EU’s regulatory framework needs to adequately address evolving risks, opportunities and responsibilities associated with the handling, trade and synthesis of biological material, particularly in the context of synthetic biology; whereas existing biosecurity gaps need to be addressed by the EU and through international cooperation;

    Criteria for a comprehensive EU biotech act

    1.  Emphasises the growth potential of the European biotechnology and biomanufacturing sector and the need for the EU to remain world-leading in this field; underlines the commitment to the principles of better regulation and lawmaking, simplification and administrative burden reduction; underlines that the simplification of EU legislation must not endanger any of the fundamental rights of citizens, workers and businesses or risk regulatory uncertainty; believes that any simplification proposal should not be rushed and proposed without proper consideration, consultation and impact assessments; therefore asks the Commission, if it proposes a new EU-wide regulation in the form of an EU biotech act, to address concrete gaps and shortcomings in current legislation and implementation, and to present legislation that can be revised, simplified, streamlined, repealed and which reduces bureaucratic burdens, focusing on the specificities of the industry and maintaining relevant safety and security standards; asks that an EU biotech act adopt a comprehensive cross-sectoral scope and that it be accompanied by an impact and cost assessment, competitiveness checks as well as a comprehensive assessment by the Regulatory Scrutiny Board, taking due consideration of the impact on SMEs, start-ups and scale-ups, as well as the interaction with other relevant legislative and non-legislative initiatives, including proposals currently undergoing the co-legislative procedure;

    2.  Recalls that according to the OECD, biotechnology is defined as the application of science and technology to living organisms, as well as parts, products and models thereof, to alter living or non-living materials for the production of knowledge, goods and services; notes, however, that biomanufacturing is not clearly defined and calls on the Commission to propose such a definition;

    3.  Recommends streamlining and harmonising existing and upcoming initiatives relating to biotechnology and biomanufacturing, with the objective of strengthening the biotechnology and biomanufacturing industry through clear industrial and research and development (R & D) competences;

    4.  Urges the Commission to ensure coherence and consistency across all initiatives and legislative measures that may affect biotechnology and biomanufacturing innovations and companies, especially start-ups and scale-ups;

    5.  Calls on the Commission to ensure that any future relevant legislative initiatives have a broad enough scope to capture the width of the biotechnology and biomanufacturing industry and its full range of applications; recommends facilitating a fast and efficient uptake of biotechnology and biomanufacturing through clear regulatory frameworks;

    6.  Calls on the Commission to implement measures within its structures in order to ensure coordination, coherence and complementarity across its relevant directorates-general, and to enable more efficient scale-up and commercialisation of research, development and innovation results; highlights the importance of efforts to improve policy coherence and coordination at national level;

    7.  Calls on the Commission to take account of regulatory frameworks of non-EU countries leading in the biotechnology and biomanufacturing sector, in the context of existing and future EU legislation covering the industry, to ensure compatibility, where possible and without compromising consumer safety, and a level playing field for EU biotech companies competing internationally, and to learn from best practices from outside the EU without lowering existing EU standards;

    8.  Calls on the Commission to present a report on the implementation of current legislation in the field of biotechnology and biomanufacturing, including identifying potential gaps and regulatory barriers hampering the growth of the industries applying these technologies and manufacturing processes, including barriers to improving the EU’s self-sufficiency in key feedstocks, raw materials and components; recalls the precautionary principle laid down in Article 191 TFEU; urges the Commission to share with Parliament the preliminary findings of its study on regulatory burden, in this regard, and the potential need to review legislation related to biotechnology and biomanufacturing; calls for a simplification of current requirements for the sector across regulatory frameworks to enable faster approval procedures and market access, while maintaining a risk- and science-based approach and avoiding regulatory uncertainty;

    9.  Welcomes the recently launched Biotech and Biomanufacturing Hub; requests that the Commission provide further guidance to EU biotechnology and biomanufacturing companies and the Member States with regard to the Net-Zero Industry Act(1) and the new Clean Industrial Deal in terms of permitting and financing, and to consider the creation of supporting hubs, in order to improve guidance and advice to companies navigating through the regulatory framework;

    10.  Calls on the Commission to urgently streamline, simplify and shorten the time required for authorisation procedures, particularly approval time frames, for biotechnology materials and products throughout their manufacturing- and life-cycles, and to facilitate the market uptake of bio-based solutions, including the provision of pre-authorisation guidance, while maintaining a risk- and science-based approach, particularly in the context of its regular review of EU agencies such as the European Food Safety Authority, the European Medicines Agency and the European Chemicals Agency; calls on the Commission to ensure that the relevant EU agencies are adequately resourced, to enhance their capacity for conducting authorisation procedures in a timely manner;

    11.  Calls on the Commission to consider the possibility of a simplified approvals procedure for biotechnology products that have already been approved by trusted regulatory bodies in like-minded countries with EU-equivalent standards;

    12.  Calls on the Commission to consider simplifying labelling practices, such as the use of QR codes, and ensure fair market conditions between biotechnology and other products, such as marketing and advertising, without compromising consumer safety or access to relevant consumer information;

    13.  Recalls that harmonised, predictable, future-proof and internationally competitive IP and data protection rules for biotechnology and biomanufacturing patents are essential for the development of the industry, resilient supply chains and sustainable economic growth; underlines the importance of improving IP protection rules by longer terms for patented technologies to strengthen the EU’s competitiveness, foster innovation and the EU’s strategic autonomy, protect cutting-edge technologies, reward long-term investments, and support high-risk research; considers that a coherent, robust and future-proof IP framework is essential; welcomes, in this regard, the EU’s recently established unitary patent system;

    14.  Calls for a common clinical trials framework with streamlined approval procedures across the Member States to minimise administrative burdens and delays, and which allows for the use of real-world evidence for biotechnology therapies; asks the Commission to present the current situation in this regard, as well as potential improvements; calls for the swift implementation of the Clinical Trials Regulation(2) and the use of the EU’s Clinical Trials Information System;

    15.  Underlines the strategic importance for the EU of a strong biotechnology ecosystem to support R & D, manufacturing, and patient access to innovative medicines; points out that biotechnology processes can be used to manufacture active pharmaceutical ingredients and key manufacturing inputs for both off-patent and innovative medicines;

    16.  Recommends using the next generation of regulatory sandboxes to assess the specific impacts and possibilities of emerging biotechnology and biomanufacturing applications, ensuring that new technologies can be trialled in a controlled but flexible and future-proof regulatory environment; stresses the importance of ensuring that EU policy takes account of technological and scientific developments to safeguard the EU’s global competitiveness;

    17.  Recommends developing a strategy to support biotechnology and biomanufacturing companies transitioning from the regulatory sandbox regime to full market access; requests that the strategy include, but not be limited to, support mechanisms, regulatory assistance and guidance on compliance with EU legislation;

    The need to promote the advantages and specificities of the biotechnology and biomanufacturing industry

    18.  Underlines that effectively scaling up biotechnology and biomanufacturing in the EU hinges on a robust, competitive and circular bioeconomy; calls on the Commission to present an updated bioeconomy strategy, which takes account of current challenges and reinforces the bioeconomy’s industrial dimension and its links to biotechnology and biomanufacturing, incentivising the development and production of sustainable, innovative, high-value added bio-based materials, products and solutions, to contribute to EU competitiveness and strategic autonomy;

    19.  Acknowledges the important role biomass plays in biomanufacturing; recalls, in this regard, the importance of adopting an approach open to different sustainable biomass technologies grounded in robust analysis, and with the aim of enhancing feedstock access and use, as well as harnessing international supply chains, while aiming to avoid unintended environmental externalities;

    20.  Underlines the need to account for the specificities of biogenic carbon, bio-based products and processes, and to differentiate them from petrochemical and fossil-based products, in the context of EU and national chemical, materials and environmental legislation;

    21.  Points out that essential components, such as enzymes, lactic acid bacteria and other microorganisms, run the risk of being prohibited or unduly disincentivised by EU regulations primarily designed for petrochemical and synthetic substances, such as the REACH Regulation(3);

    22.  Is concerned that the European Investment Bank (EIB)’s interpretation of sustainability criteria under the EIB Group Paris alignment framework may result in access to funding for bio-based materials and projects being denied; asks the Commission to examine relevant definitions accordingly and encourage biotechnology- and biomanufacturing-friendly interpretations; calls on the EIB to propose de-risking instruments for biotechnology and biomanufacturing, in order to raise capital; calls, moreover, on the EIB to improve outreach, advisory support and information on financing instruments and opportunities for eligible biotechnology and biomanufacturing projects, in particular SMEs, start-ups and scale-ups;

    23.  Underlines the benefit and contribution of bio-based products and processes to the EU’s CO2 reduction objectives, which, given the potential of these products to increase sustainability and lower the EU’s environmental footprint, need to be reflected in respective life cycle assessments, information for consumers and public procurement;

    24.  Considers that, in order to accelerate the substitution of fossil-based feedstocks, the market demand and market uptake of sustainable bio-based products could be further incentivised in the EU; considers that bio-based feedstocks, such as sustainably sourced biomass, recycled waste and CO2 captured from biogenic sources, could be used as alternative feedstocks for the manufacturing of various products, contributing to the EU’s emissions reduction, resource efficiency and strategic autonomy; in this context, recalls the commitment in the EU’s Competitiveness Compass to develop policies to reward early movers; considers that coherent and adequate sustainability criteria should be ensured for biomass;

    25.  Underlines the importance of upholding the EU’s high standards of food and consumer safety and the potential of biotechnology applications when assessing biotechnology applications in food and feed to protect consumer health, assess impact on circularity and sustainability, and to consider social, ethical, economic, environmental and cultural aspects of food innovation; calls on the Commission to identify smooth routes to market for safe applications of biotechnology in food products, while reiterating that such biotechnology applications need to be properly examined, prior to any future authorisation and subsequent placing on the EU market, including gathering toxicological information and clinical and pre-clinical studies where relevant, and ensuring traceability;

    26.  Underlines that biosecurity risks, including bioethical considerations, must be addressed in conjunction with biotechnology and biomanufacturing innovation, ensuring responsible access to and use of synthetic biology tools, genetic editing technologies and biological materials; calls for the establishment of an EU biosecurity registry for synthetic DNA, benchtop synthesis equipment and genetic engineering tools, improving transparency and risk-assessment mechanisms, in consultation with relevant stakeholders, such as industry and civil society, and while ensuring sensitive data is adequately protected; stresses the importance of EU strategic autonomy in biotechnology supply chains, ensuring that critical biomanufacturing inputs and expertise remain within Europe; calls for stronger international cooperation on biosecurity standards, including mandatory international screening standards, ensuring that EU-based biotechnology and biomanufacturing companies benefit from global best practice while maintaining competitiveness;

    27.  Urges the Commission to conduct a study on biological materials and to present an updated communication and an action plan on chemical, biological, radiological and nuclear risks, in particular regarding bioterrorism and bio-risks;

    Horizontal issues

    28.  Underlines the importance for supply chain security of ensuring a sufficient, stable and competitive supply of feedstock, raw materials and essential components, such as sustainable biomass and enzymes for biotechnology and biomanufacturing companies; calls for potential risks, gaps and dependencies to be closely monitored while safeguarding company-sensitive data and the functioning of the internal market;

    29.  Stresses the importance of developing EU raw material value chains and manufacturing, and enhancing self-sufficiency where possible, while also fostering strategic partnerships and cooperation with like-minded non-EU countries to secure resilient and diversified access to critical inputs of biotechnology and biomanufacturing industries in the EU;

    30.  Stresses that, in an increasingly tense geopolitical context, biotechnology and biomanufacturing should be fully leveraged to strengthen the EU’s strategic autonomy, enhance food security and reduce dependence on non-EU countries; highlights the need to stimulate market demand and uptake of bio-based products to boost the growth, competitiveness and sustainability of the EU biotechnology and biomanufacturing sector;

    31.  Notes that the scale-up and commercialisation of research results remains a major challenge in the EU, and stresses the need to improve knowledge and technology transfer between academia and industry to ensure that EU-funded biotechnology and biomanufacturing research leads to commercial applications and industrial deployment; highlights the importance of strengthening public-private collaboration and supporting universities and research institutions with high levels of technology transfer, spin-offs, and start-up creation, for example by applying the CERN model of building start-up studios within research institutions; calls for strategic investments in shared EU infrastructure – such as pilot facilities, biobanks or innovation accelerators – to support the scale-up of prototypes and the market uptake of innovative biotechnology and biomanufacturing solutions; underlines that innovation cannot solely take place for short-term economic benefit, and that biotechnology and biomanufacturing innovation should be driven through a bottom-up approach under a standalone and long-term framework programme; calls on the Commission to facilitate the creation of world-leading research hubs for biotechnology and biomanufacturing to drive innovation and collaboration between academia, industry and venture capital; emphasises the need for robust physical testing facilities in the biotechnology and biomanufacturing sector to drive innovation and facilitate the production and market access for SMEs and start-ups;

    32.  Stresses the need to ensure access to affordable energy for biotechnology and biomanufacturing operators, given the high energy intensity of large-scale biological production processes; underlines the importance of facilitating the authorisation and validation of large industrial plants, such as bioreactors, which are essential for scale-up but also face significant construction and operating risks; welcomes the latest revision of the Renewable Energy Directive(4) and its provisions to simplify permitting procedures, and calls on the Member States to swiftly implement relevant measures to support the deployment of biotechnology and biomanufacturing infrastructure;

    33.  Underlines the need for a skilled and diverse European workforce in the biotechnology and biomanufacturing sector and for the promotion of entrepreneurial skills, in close collaboration with industry and research institutions; calls for increased investment in biotechnology and biomanufacturing education and targeted professional training, including in but not limited to areas such as regulatory compliance, quality assurance and process engineering; supports the development of competence centres and public-private training initiatives across all Member States to enable upskilling, reskilling and lifelong learning to safeguard the attractiveness of the biotechnology and biomanufacturing industry; highlights the importance of adapting educational curricula to the evolving needs of the sector, and of promoting science, technology, engineering and mathematics (STEM) subjects, with a particular focus on attracting more girls and women into biotechnology and biomanufacturing careers; encourages more public awareness about career opportunities in the field to attract talent from non-EU countries and suggests exploring the potential for transatlantic cooperation; welcomes the recently launched Choose Europe for Science pilot scheme to attract top non-EU researchers, scientists and academics to Europe;

    34.  Calls for the urgent completion of the capital markets union to attract institutional investors to the biotechnology and biomanufacturing industry, including venture capital, pension funds and private equity; underlines that the sector is characterised by high levels of risk and that reducing the cost of failure in the EU is necessary for attracting large-scale capital investment; calls for dedicated support to ensure that biotechnology and biomanufacturing SMEs, start-ups and scale-ups can access sufficient funding and compete globally; stresses that cross-border investment barriers must be reduced to facilitate investment in biotechnology and biomanufacturing scale-ups;

    35.  Notes that public-private partnerships and mission-driven EU investment strategies, such as the Circular Bio-based Europe Joint Undertaking, are essential for de-risking biotechnology and biomanufacturing innovation and for increasing the likelihood that IP and industrial capacity remain in Europe; urges EU investment instruments, such as the InvestEU programme, to be strengthened to support biotechnology and biomanufacturing projects considered as high-risk from an investment perspective; underlines that the sector is characterised by a high concentration of SMEs, which face disproportionate barriers in accessing capital despite being critical drivers of innovation; supports the exploration of a biotechnology Important Project of Common European Interest to facilitate industrial deployment and first-mover investments in bio-based chemicals, materials, and products and solutions;

    36.  Notes that public awareness of biotechnology and biomanufactured products in the EU should be further strengthened to boost public acceptance; recommends engaging with citizens and civil society organisations to communicate the characteristics, benefits and implications of the growing presence of biotechnology-based products and services in the European market;

    Future-proof research and innovation

    37.  Regrets that European private investment in research, development and innovation is lagging behind other major economies and that the scale-up and commercialisation of research results remain a major challenge in Europe; highlights the fact that European and national public systems for R & D funding remain complex and insufficiently coordinated, resulting in duplications and inefficiencies; calls for an EU-wide approach to coordinating public investment in R & D for biotechnology and biomanufacturing, with the dual objective of closing excellence and innovation gaps and accelerating commercialisation; underlines the importance of strengthening European collaboration, pooling knowledge and resources, and leveraging public funding with private investment; recalls the key role of framework programmes such as Horizon Europe in fostering scientific excellence, innovation and technical development and calls for targeted investment in strategic biotechnology and biomanufacturing subfields, such as industrial, environmental, marine, health and agri-food biotechnology;

    38.  Reiterates the call to double the EU’s research budget and to reach the target of 3 % of EU gross domestic product being devoted to R & D by 2030;

    39.  Notes the growing role of synthetic biology, bioinformatics, data and game-changing AI-driven biotechnology and biomanufacturing research; calls on the Commission to integrate biotechnology and biomanufacturing innovation into the EU digital and AI strategies, ensuring interoperability between biotechnology and biomanufacturing data infrastructure and AI-driven discovery platforms; notes that AI capabilities are dependent on the efficient use of data; considers that the creation of industrial data spaces for biotechnology and biomanufacturing is important for efficient data sharing;

    40.  Acknowledges that, while AI systems and quantum computing can significantly speed up research and lead to new innovations, enabling better computational designs of biological systems, they can also increase the risk of biological threats; underlines, therefore, the need to apply a risk-based approach to the use of AI in scientific research and manufacturing;

    41.  Considers that the ethical use of AI, bioinformatics and synthetic biology is crucial for building trust and for society at large to benefit from these technologies; underlines the need to safeguard data privacy, data security, transparency and human oversight of the use of AI systems in the health biotechnology sector;

    o
    o   o

    42.  Instructs its President to forward this resolution to the Council and the Commission.

    (1) Regulation (EU) 2024/1735 of the European Parliament and of the Council of 13 June 2024 on establishing a framework of measures for strengthening Europe’s net-zero technology manufacturing ecosystem and amending Regulation (EU) 2018/1724 (OJ L, 2024/1735, 28.6.2024, ELI: http://data.europa.eu/eli/reg/2024/1735/oj).
    (2) Regulation (EU) No 536/2014 of the European Parliament and of the Council of 16 April 2014 on clinical trials on medicinal products for human use, and repealing Directive 2001/20/EC (OJ L 158, 27.5.2014, p. 1, ELI: http://data.europa.eu/eli/reg/2014/536/oj).
    (3) Regulation (EC) No 1907/2006 of the European Parliament and of the Council of 18 December 2006 concerning the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH), establishing a European Chemicals Agency, amending Directive 1999/45/EC and repealing Council Regulation (EEC) No 793/93 and Commission Regulation (EC) No 1488/94 as well as Council Directive 76/769/EEC and Commission Directives 91/155/EEC, 93/67/EEC, 93/105/EC and 2000/21/EC (OJ L 396, 30.12.2006, p. 1, ELI: http://data.europa.eu/eli/reg/2006/1907/oj).
    (4) Directive (EU) 2023/2413 of the European Parliament and of the Council of 18 October 2023 amending Directive (EU) 2018/2001, Regulation (EU) 2018/1999 and Directive 98/70/EC as regards the promotion of energy from renewable sources, and repealing Council Directive (EU) 2015/652 (OJ L, 2023/2413, 31.10.2023, ELI: http://data.europa.eu/eli/dir/2023/2413/oj).

    MIL OSI Europe News

  • MIL-OSI Europe: Text adopted – Case of Ryan Cornelius in Dubai – P10_TA(2025)0161 – Thursday, 10 July 2025 – Strasbourg

    Source: European Parliament

    The European Parliament,

    –  having regard to Opinion No 19/2022 of the United Nations Working Group on Arbitrary Detention (UNWGAD),

    –  having regard to Rules 150(5) and 136(4) of its Rules of Procedure,

    A.  whereas Ryan Cornelius, a 71-year-old British national married to an EU citizen, has been arbitrarily detained in the United Arab Emirates (UAE) since 2008, following a conviction on false fraud charges related to a loan from Dubai Islamic Bank (DIB) for a property development project;

    B.  whereas he was initially sentenced to 10 years’ imprisonment and, just before his scheduled release in 2018, his sentence was extended by an additional 20 years under Dubai Law 37 of 2009, applied retroactively and in violation of international legal standards;

    C.  whereas according to human rights organisations, the UAE Government has a concerning track record of arbitrary detention, unfair trials and allegations of torture;

    D.  whereas according to independent auditors, the real estate development seized from Ryan Cornelius by DIB is demonstrably worth many times the amount of his outstanding debt to the bank;

    E.  whereas the UNWGAD has declared his continued imprisonment a violation of international law, citing a lack of due process, coerced confessions, solitary confinement, denial of legal counsel and coerced signing of documents in Arabic;

    F.  whereas Ryan Cornelius continues to be held in inhumane prison conditions, with his health deteriorating and without proper access to healthcare;

    G.  whereas Dubai Law 37 of 2009 states in Article 7(1) that the convicted person (the debtor) shall not be sentenced to jail if that person is aged over 70; whereas Ryan Cornelius turned 70 in 2024 and as such should be granted an exemption under this law;

    1.  Condemns Ryan Cornelius’s arbitrary and prolonged detention and calls for him and all other arbitrarily detained persons to be released immediately and unconditionally;

    2.  Demands that he be granted an enforceable right to compensation and other reparations, in accordance with international law;

    3.  Urges the Dubai authorities to provide him with access to adequate medical treatment and care in accordance with international standards on the treatment of prisoners, and to ensure an independent investigation into his arbitrary detention;

    4.  Denounces the retroactive application of Law 37 of 2009 and urges the UAE to ensure fair trials and abolish the practice of debt-related imprisonment; notes that Ryan Cornelius remains in prison despite the authorities having seized assets valued at more than twice his original debt;

    5.  Expresses solidarity with his family;

    6.  Calls on the United Kingdom to take all necessary action to ensure Ryan Cornelius’s release; urges the VP/HR, the EU Special Representative for Human Rights, the Member States and the EU Delegation to the UAE to raise his case in all bilateral engagements with the UAE and closely monitor the conditions of his detention;

    7.  Instructs its President to forward this resolution to the Commission, the Council, the VP/HR, the EU Special Representative for Human Rights, the Member States, and the governments of the United Kingdom and the UAE.

    MIL OSI Europe News

  • MIL-OSI Banking: Watch: Statements by Board of Governors in Opening Ceremony of NDB 2025 Annual Meeting

    Source: New Development Bank

    Videos

    H.E. Mrs. Dilma Rousseff

    President of the New Development Bank

    H.E. Mr. Anton Siluanov

    Minister of Finance of the Russian Federation and the NDB Governor for Russia

    H.E. Mrs. Nirmala Sitharaman

    Minister of Finance of the Republic of India and the NDB Governor for India

    H.E. Mr. LAN Fo’an

    Minister of Finance of the People’s Republic of China and the NDB Governor for China

    Dr. David Masondo

    Deputy Minister of Finance of the Republic of South Africa and the NDB Alternate Governor for South Africa

    Mr. Md. Shahriar Kader Siddiky

    Secretary, Economic Relations Division, Ministry of Finance of the People’s Republic of Bangladesh and the NDB Alternate Governor for Bangladesh

    Mr. Ali Sharafi

    Acting Assistant Undersecretary for International Financial Relations Sector, Ministry of Finance of the United Arab Emirates and the NDB Temporary Alternate Governor for the United Arab Emirates

    Mr. Atter Hannoura

    Director of the PPP Central Unit, Ministry Director of the PPP Central Unit, Ministry of Finance of Egypt of the Arab Republic of Egypt and the NDB Temporary Alternate Governor for Egyptof Finance of Egypt of the Arab Republic of Egypt and the NDB Temporary Alternate Governor for Egypt

    H.E. Mr. Abdelaziz Benali Cherif

    Ambassador of Algeria to Brazil

    H.E. Mr. Fernando Haddad

    Minister of Finance of the Federative Republic of Brazil and the NDB Governor for Brazil

    MIL OSI Global Banks

  • MIL-OSI Africa: Africa GreenCo Advances Zambian Solar Projects as Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025

    Source: APO


    .

    Ana Hajduka, Founder and CEO of green energy supplier Africa GreenCo, will participate as a speaker at this year’s African Energy Week (AEW): Invest in African Energies 2025 conference, taking place from September 29 to October 3 in Cape Town. During the event, Hajduka is expected to share insights into the company’s groundbreaking work in advancing renewable energy trading and power market integration, as Africa GreenCo advances a series of projects across southern Africa.

    Delivering tailored energy solutions, Africa GreenCo supports businesses, utilities and renewable energy developers in Africa by facilitating renewable energy trade and distribution. Recent developments reflect this, while supporting the expansion of the continent’s renewable energy sector. Hajduka will share insights into these projects during AEW: Invest in African Energies 2025, while engaging with renewable energy developers and financiers active across the continent.

    AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

    To date, Africa GreenCo has facilitated the trade of over 1 TWh of electricity and continues to champion the role of market-based solutions in achieving energy security and decarbonization in Africa. Africa GreenCo signed a head of terms for a long-term power purchase agreement with pan-African energy group AXIAN Energy to develop two grid-connected solar PV projects in Zambia. Once operational, the projects will add 25 MW of renewable energy to Zambia’s national grid, helping alleviate electricity shortages, improve reliability for businesses and support the country’s long-term industrial growth. The projects will be developed with support from financial services provider Standard Bank.

    Meanwhile, the company’s subsidiary GreenCo Power Services will purchase electricity from Zambia’s 32 MW Ilute Solar Project under a recently signed a power purchase agreement, enabling cross-border trade via the Southern African Power Pool (SAPP). This innovative arrangement eliminates the need for sovereign guarantees, positioning GreenCo as a key player in advancing regional integration and private-sector investment in Africa.

    In November 2024, GreenGo Finance Solutions – Africa GreenCo’s Zambian subsidiary – signed a $55.5 million facilities agreement with financial institution Stanbic Bank Zambia and Standard Bank to support emergency electricity imports in Zambia. The facility enables the prepayment of over 130 MW of cross-border power supply, easing liquidity constraints for local offtakers and bolstering energy security in the country. The agreement follows Africa GreenCo’s instrumental role in facilitating a 125 MW power import deal between Zambia’s state utility ZESCO, mining major First Quantum Minerals (FQM) and regional suppliers. Jointly financed by Africa GreenCo and FQM, the arrangement delivers 85 MW to Zambia’s national grid and allocated 40 MW to FQM’s operations.

    In October 2024, GreenCo Power Services achieved a significant regulatory milestone with the award of a domestic trading and import/export licenses from South Africa’s National Energy Regulator. The licenses enable Africa GreenCo to operate within South Africa’s competitive electricity market and to facilitate cross-border transactions through the SAPP – creating a critical channel for dispatching surplus clean power across the region.

    “Africa GreenCo’s model reflects the future of energy in Africa – private-led, regionally interconnected and powered by clean energy. Ana Hadjuka’s participation at AEW: Invest in African Energies 2025 will offer vital insights into how blended finance, cross-border trade and regulatory innovation can converge to solve Africa’s most pressing power challenges,” states Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber.

    Distributed by APO Group on behalf of African Energy Chamber.

    MIL OSI Africa

  • MIL-OSI: Sydbank A/S share buyback programme: transactions in week 28

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 31/2025

    Peberlyk 4
    6200 Aabenraa
    Denmark

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

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

    14 July 2025  

    Dear Sirs

    Sydbank A/S share buyback programme: transactions in week 28
    On 26 February 2025 Sydbank A/S announced a share buyback programme of DKK 1,350m. The share buyback programme commenced on 3 March 2025 and will be completed by 31 January 2026.

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

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

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

    1,188,000

     

    505,716,560.00

    07 July 2025
    08 July 2025
    09 July 2025
    10 July 2025
    11 July 2025
    10,000
    10,000
    10,000
    10,000
    10,000
    474.80
    481.32
    489.39
    485.33
    482.33
    4,748,000.00
    4,813,200.00
    4,893,900.00
    4,853,300.00
    4,823,300.00
    Total over week 28 50,000   24,131,700.00
    Total accumulated during the
    share buyback programme

    1,238,000

     

    529,848,260.00

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

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

    Following the above transactions, Sydbank A/S holds a total of 1,238,285 own shares, equal to 2.41% of the Bank’s share capital.

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

    Attachment

    The MIL Network