NewzIntel.com

Category: Banking

  • MIL-OSI Europe: Results of the June 2025 Survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets (SESFOD)

    Source: European Central Bank

    31 July 2025

    • Price and non-price credit terms and conditions remained largely unchanged between March 2025 and May 2025, tightening slightly for certain counterparty types
    • Demand for lending against collateral and financing rates/spreads increased across all asset classes except equities
    • Tariff turmoil in April 2025 had a limited but slightly negative impact on bank clients’ ability to meet margin calls

    Price and non-price credit terms and conditions remained largely unchanged between March 2025 and May 2025, with a slight tightening of non-price terms across banks and dealers, non-financial corporations and sovereigns. For price terms, survey responses indicated no net change. General market liquidity and functioning was most frequently cited as the primary driver behind tightening. Looking ahead, some survey respondents expect credit terms and conditions to ease slightly in the third quarter of 2025. However, the vast majority (86%) stated that, overall, no changes were foreseen (Chart 1).

    Chart 1

    Expected and realised quarterly changes in overall credit terms and price/non-price terms offered to counterparties across all transaction types

    (net percentages of survey respondents)

    Source: ECB.

    Note: Net percentages are calculated as the difference between the percentage of respondents reporting “tightened somewhat” or “tightened considerably” and the percentage reporting “eased somewhat” or “eased considerably”.

    Turning to financing conditions for funding secured against the various types of collateral, financing rates/spreads increased across nearly all collateral types except equities for both average and most-favoured clients, reversing the decline observed in the preceding quarter. Furthermore, respondents indicated that demand for funding secured against any type of collateral except equities increased in the most recent period (Chart 2). Maximum maturities of funding decreased slightly for most collateral types, especially for government bonds, with only high-quality, non-financial corporate bonds showing a small net increase.

    Chart 2

    Securities financing transactions experienced an increase in financing rates/spreads and demand for funding, except for equities

    a) Change in financing rates/spreads for average clients by collateral type

    b) Change in overall demand for term funding by collateral type

    (net percentages of survey respondents, inverted)

    (net percentages of survey respondents, inverted)

    Source: ECB.

    Note: Net percentages are calculated as the difference between the percentage of respondents reporting “decreased somewhat” or “decreased considerably” and the percentage reporting “increased somewhat” or “increased considerably”.

    Against the background of broadly unchanged credit terms and conditions for the various types of non-centrally cleared over-the-counter (OTC) derivatives, including initial margin requirements, survey respondents pointed out a few changes regarding credit limits, liquidity and valuation disputes. The volume of valuation disputes increased for a few types of derivatives, particularly foreign exchange derivatives and credit derivatives referencing structured credit products. The maximum allowed exposure decreased for interest rate and commodity derivatives, while it increased slightly for credit derivatives. This was paired with reported improvements in the liquidity and trading of credit derivatives.

    The survey found that the US tariff announcements on 2 April had a limited but slightly negative impact on clients’ ability to meet margin calls. At the same time, the announcements did not significantly increase forced asset sales. The survey also featured a set of special questions examining euro area government bond (EGB) repo market activity and trading strategies. A large majority of respondents confirmed that they had engaged in trades combining EGB repo and reverse repo transactions, with margin offsets being a common practice for these types of transactions. However, other EGB repo trades were less common, such as those in combination with EGB futures or other interest rate derivatives. Yield curve or duration trades were named the most popular trades among client hedge funds, although alternative strategies, including cash-futures basis trades and intra-euro area sovereign repo trades, were also prevalent. Moreover, the majority of respondents indicated they had conducted a material number of EGB repo or reverse repo transactions as non-CCP bilateral trades in the last year and that they also expected the share of these trades to increase further over the next year.

    The results of the June 2025 SESFOD survey, the underlying detailed data series and the SESFOD guidelines are available on the ECB’s website, together with all other SESFOD publications.

    The SESFOD survey is conducted four times a year and covers changes in credit terms and conditions over three-month reference periods ending in February, May, August and November. The June 2025 survey collected qualitative information on changes between March 2025 and May 2025. The results are based on the responses received from a panel of 26 large banks, comprising 14 euro area banks and 12 banks with head offices outside the euro area.

    For media queries, please contact Verena Reith, tel.: +49 172 2570849.

    MIL OSI Europe News –

  • MIL-OSI Europe: The EBA consults on harmonised reporting for third-country branches across the EU

    Source: European Banking Authority

    The European Banking Authority (EBA) today launched a public consultation on its draft Implementing Technical Standards (ITS) for the supervisory reporting of third-country branches under the Capital Requirements Directive (CRD). This initiative aims to establish uniform formats, definitions, and reporting frequencies for third-country branches, ensuring a consistent and comprehensive approach to regulatory and financial information reporting across the EU. The consultation runs until 31 October 2025. 

    The draft ITS not only aim at harmonising reporting formats and definitions but also at enhancing supervisory oversight of third-country branches. By introducing structured data collection –  covering both the third-country branches and their head undertakings – the ITS support the effective supervision of third-country branches by addressing previous inconsistencies in national approaches and enabling a standardised reporting of their activities across the Union. The new templates should provide a clear picture of the financial soundness, risk exposures, and intra-group dependencies of third-country branches, thereby supporting more effective and consistent supervision across the EU. Importantly, the ITS incorporate a proportionate approach through a “core + supplement” model, ensuring that reporting obligations are tailored to the systemic relevance of each third-country branch. This ensures that supervisory scrutiny is risk-sensitive while maintaining a level playing field. 

    Consultation Process 

    Comments on the draft ITS can be submitted to the EBA by clicking on the “send your comments” button on the consultation page. The deadline for the submission of comments is 31 October 2025. All contributions received will be published after the consultation closes, unless requested otherwise. 

    A public hearing on the draft ITS will take place on 5 September from 10:00 to 12:00 CEST. The deadline for registration is 2 September 2025, 16:00 CEST. 

    Legal Basis and next steps 

    The EBA has developed these draft ITS in accordance with Article 48l(1) of Directive 2013/36/EU, which mandates the EBA to specify uniform formats, definitions, and reporting frequencies for the supervisory reporting of third-country branches. 

    The consultation period will run for three months, during which the EBA invites comments and feedback from stakeholders. Following the consultation, the EBA will finalise the draft ITS and submit them to the European Commission by January 10, 2026. The first reference date for the application of these ITS is anticipated to December 2026, so as to grant Competent Authorities and third-country branches to have an implementation period of approximately one year.  

    MIL OSI Europe News –

  • Tata Motors announces euro 3.8 billion acquisition of Iveco Group

    Source: Government of India

    Source: Government of India (4)

    Tata Motors Limited has announced plans to acquire Iveco Group N.V., a leading European commercial vehicle and mobility company, through an all-cash voluntary tender offer valued at approximately €3.8 billion.

    The proposed acquisition is subject to regulatory approvals and the successful separation of Iveco’s defence business. The deal aims to create a powerful global player in the commercial vehicle industry, combining complementary capabilities, a broader market presence, and a shared commitment to sustainable mobility.

    Under the terms of the deal, Tata Motors will acquire all issued common shares of Iveco Group—excluding its defence division—at €14.1 per share in cash. Completion of the transaction is conditional upon the separation of the defence business, which is expected to be finalised by March 31, 2026.

    The offer represents a 22–25% premium over Iveco’s average share price in the three months ending July 17, 2025. Factoring in the estimated €5.5–€6.0 per share extraordinary dividend from the defence division’s sale, the premium could increase to 34–41%.

    The merger will combine Tata Motors’ commercial vehicle division with Iveco’s operations, bringing together annual sales of approximately 540,000 units and revenues of €22 billion (INR 2.2 lakh crore). The combined revenue base will be spread across Europe (50%), India (35%), and the Americas (15%).

    “This is a logical next step following the demerger of Tata Motors’ Commercial Vehicle business,” said Tata Motors Chairman Natarajan Chandrasekaran. “It will allow the combined group to compete globally with two strategic home markets in India and Europe.”

    Olof Persson, CEO of Iveco Group, said the partnership with Tata Motors would strengthen industrial capabilities, accelerate innovation in zero-emission transport, and expand the company’s presence in key global markets.

    Tata Motors has secured full financing for the acquisition through a consortium led by Morgan Stanley and MUFG Bank. Clifford Chance, PwC, and Kearney are advising Tata Motors, while Goldman Sachs and law firms De Brauw and PedersoliGattai are advising Iveco Group.

    — ANI

  • MIL-OSI Banking: Verizon to redeem debt securities on September 3, 2025

    Source: Verizon

    Headline: Verizon to redeem debt securities on September 3, 2025

    NEW YORK – Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem, in whole, the following notes on September 3, 2025 (the “Redemption Date”):

    I.D. Number

    Title of Security

    NYSE Trading Symbol

    Principal Amount
    Outstanding

    CUSIP: 92343V BW3

    ISIN: XS1030900242

    Common Code: 103090024

    3.25% Notes due 2026 (the “Notes”)

    VZ 26

    €842,980,000

    The redemption price for the Notes will be equal to the greater of (i) 100% of the principal amount of the Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable Government Bond Rate (as defined in the Notes) plus 25 basis points (the “Redemption Price”), plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. The Redemption Price will be calculated in accordance with the terms of the Notes on the third Business Day (as defined in the Notes) preceding the Redemption Date.

    Questions relating to the notice of redemption and related materials should be directed to the paying agent: U.S. Bank Trust Company, Trust Company, National Association, 333 Thornall Street, Edison, New Jersey 08837, United States of America, or via telephone at 1-800-934-6802.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Euro area bank interest rate statistics: June 2025

    Source: European Central Bank

    31 July 2025

    Bank interest rates for corporations

    Chart 1

    Bank interest rates on new loans to, and deposits from, euro area corporations

    (percentages per annum)

    Data for cost of borrowing and deposit interest rates for corporations (Chart 1)

    The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased in June 2025. The interest rate on new loans of over €1 million with a floating rate and an initial rate fixation period of up to three months remained broadly unchanged at 3.29%. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year fell by 7 basis points to 3.41%. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years decreased by 17 basis points to 3.54%. In the case of new loans of up to €250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged fell by 7 basis points to 3.71%.

    As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year fell by 12 basis points to 1.93% in June 2025. The interest rate on overnight deposits from corporations fell by 5 basis points to 0.53%.

    The interest rate on new loans to sole proprietors and unincorporated partnerships with a floating rate and an initial rate fixation period of up to one year decreased by 14 basis points to 3.97%.

    Table 1

    Bank interest rates for corporations

    i.r.f. = initial rate fixation
    * For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.

    Data for bank interest rates for corporations (Table 1)

    Bank interest rates for households

    Chart 2

    Bank interest rates on new loans to, and deposits from, euro area households

    Data for cost of borrowing and deposit interest rate for households (Chart 2)

    The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, showed no change in June 2025. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year decreased by 9 basis points to 3.61%. The rate on housing loans with an initial rate fixation period of over one and up to five years stayed almost constant at 3.41%. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years remained broadly unchanged at 3.47%. The rate on housing loans with an initial rate fixation period of over ten years stayed constant at 3.12%. In the same period the interest rate on new loans to households for consumption decreased by 13 basis points to 7.40%, driven by both the interest rate and the weight effects.

    As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year decreased by 7 basis points to 1.77%. The rate on deposits redeemable at three months’ notice stayed almost constant at 1.44%. The interest rate on overnight deposits from households remained broadly unchanged at 0.27%.

    Table 2

    Bank interest rates for households

    i.r.f. = initial rate fixation
    * For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories; deposits placed by households and corporations are allocated to the household sector. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.
    ** For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.

    Data for bank interest rates for households (Table 2)

    Further information

    The data in Tables 1 and 2 can be visualised for individual euro area countries on the bank interest rate statistics dashboard. Additionally, tables containing further breakdowns of bank interest rate statistics, including the composite cost-of-borrowing indicators for all euro area countries, are available from the ECB Data Portal. The full set of bank interest rate statistics for both the euro area and individual countries can be downloaded from ECB Data Portal. More information, including the release calendar, is available under “Bank interest rates” in the statistics section of the ECB’s website.

    For media queries, please contact Nicos Keranis, tel.: +49 69 1344 7806

    Notes:

    • In this press release “corporations” refers to non-financial corporations (sector S.11 in the European System of Accounts 2010, or ESA 2010), “households” refers to households and non-profit institutions serving households (ESA 2010 sectors S.14 and S.15) and “banks” refers to monetary financial institutions except central banks and money market funds (ESA 2010 sector S.122).
    • The composite cost-of-borrowing indicators are described in the article entitled “Assessing the retail bank interest rate pass-through in the euro area at times of financial fragmentation” in the August 2013 issue of the ECB’s Monthly Bulletin (see Box 1). For these indicators, a weighting scheme based on the 24-month moving averages of new business volumes has been applied, in order to filter out excessive monthly volatility. For this reason the developments in the composite cost of borrowing indicators in both tables cannot be explained by the month-on-month changes in the displayed subcomponents. Furthermore, the table on bank interest rates for corporations presents a subset of the series used in the calculation of the cost of borrowing indicator.
    • Interest rates on new business are weighted by the size of the individual agreements. This is done both by the reporting agents and when the national and euro area averages are computed. Thus changes in average euro area interest rates for new business reflect, in addition to changes in interest rates, changes in the weights of individual countries’ new business for the instrument categories concerned. The “interest rate effect” and the “weight effect” presented in this press release are derived from the Bennet index, which allows month-on-month developments in euro area aggregate rates resulting from changes in individual country rates (the “interest rate effect”) to be disentangled from those caused by changes in the weights of individual countries’ contributions (the “weight effect”). Owing to rounding, the combined “interest rate effect” and the “weight effect” may not add up to the month-on-month developments in euro area aggregate rates.
    • In addition to monthly euro area bank interest rate statistics for June 2025, this press release incorporates revisions to data for previous periods. Hyperlinks in the main body of the press release lead to data that may change with subsequent releases as a result of revisions. Unless otherwise indicated, these euro area statistics cover the EU Member States that had adopted the euro at the time to which the data relate.
    • As of reference period December 2014, the sector classification applied to bank interest rates statistics is based on the European System of Accounts 2010 (ESA 2010). In accordance with the ESA 2010 classification and as opposed to ESA 95, the non-financial corporations sector (S.11) now excludes holding companies not engaged in management and similar captive financial institutions.

    MIL OSI Global Banks –

  • MIL-OSI Banking: ASEAN Foreign Ministers’ Statement on the Outcome of the Special Meeting Hosted by Malaysia to Address the Current Situation Between Cambodia and Thailand

    Source: ASEAN

    We welcome the outcome of the Special Meeting chaired, hosted and witnessed by Prime Minister Dato’ Seri Anwar Ibrahim of Malaysia as the Chair of ASEAN, to address the situation between Cambodia and Thailand on 28 July 2025 in Putrajaya.

     

    We commend Malaysia’s role in facilitating bilateral dialogue toward ceasefire between Cambodia and Thailand. We are also appreciative of the role of the United States of America in co-organising the Special Meeting and the active participation of the People’s Republic of China, to promote a peaceful resolution to the ongoing situation.

     

    We encourage Cambodia and Thailand to resolve the issue amicably in accordance with international law, and consistent with the principles enshrined in the United Nations (UN) Charter, ASEAN Charter, Treaty of Amity and Cooperation in Southeast Asia, and in the spirit of ASEAN family, unity and good neighbourliness. We hope that the ceasefire agreed by both sides will be fully implemented in good faith.

     

    We are confident that the goodwill demonstrated by both Cambodia and Thailand will result in the full and effective implementation of the ceasefire and all decisions of the Special Meeting. We also express support for Malaysia’s readiness to coordinate an observer team comprising ASEAN Member States to impartially verify and ensure the implementation of the ceasefire.

     
    Download the full statement here.
    The post ASEAN Foreign Ministers’ Statement on the Outcome of the Special Meeting Hosted by Malaysia to Address the Current Situation Between Cambodia and Thailand appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Secretary-General of ASEAN delivers online lecture for Hiroshima University on “ASEAN 2045: Charting the Future of Community Building”

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this afternoon delivered an online lecture for the IDEC Institute at Hiroshima University on the future of ASEAN Community-building, focusing on the ASEAN Community Vision 2045 and its four Strategic Plans. Dr. Kao also exchanged views virtually with students and faculty members on regional and global issues as well as ASEAN-Japan relations.

    The post Secretary-General of ASEAN delivers online lecture for Hiroshima University on “ASEAN 2045: Charting the Future of Community Building” appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • Markets end lower amid volatility; FMCG stocks lend support

    Source: Government of India

    Source: Government of India (4)

    Indian equity markets closed marginally lower on Thursday after a volatile trading session marked by global uncertainties. Despite the imposition of tariffs by the United States on Indian imports, domestic indices managed to avert a sharp selloff, buoyed by buying interest in fast-moving consumer goods (FMCG) stocks.

    The benchmark Sensex closed at 81,185.58, shedding 296.28 points or 0.36 per cent. It had opened sharply lower at 80,695.50 following weak global cues but briefly rebounded in the afternoon session, touching an intraday high of 81,803.27 before slipping again in the final hour due to the expiry of monthly derivatives.

    The Nifty 50 settled at 24,768.35, down 86.70 points or 0.35 per cent.

    Market analysts said the indices reflected the underlying strength of the Indian economy, which continues to show resilience amid global headwinds. “Investors gravitated toward domestically oriented, non-discretionary players, especially FMCG, which offered attractive valuations, demand outlook and relative insulation from tariff risks,” analysts noted.

    Hindustan Unilever led the gains on the back of encouraging quarterly results, lifting the Nifty FMCG index by 791 points or 1.44 per cent. ITC, Kotak Mahindra Bank, and Eternal were also among the gainers.

    On the downside, major drag came from heavyweight stocks like Tata Steel, Sun Pharma, NTPC, Reliance, Asian Paints, L&T, and Titan, which contributed to the day’s losses. Most sectoral indices ended in the red. Nifty Auto declined by 89 points, Nifty IT slipped 180 points, and Nifty Bank was down by 188 points.

    The broader market reflected a similar sentiment with the Nifty Midcap 100 falling 0.93 per cent and Nifty Smallcap 100 down 1.05 per cent, indicating profit booking across segments.

    Despite the subdued closing, market experts remain cautiously optimistic, citing strong domestic fundamentals and the rotation of investor interest toward sectors less exposed to global trade tensions.

    -IANS

  • MIL-OSI Russia: Financial News: Recommendations for financial market participants on the conceptual design of the “Reference and Master Data” process

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    The development of modern technologies, the increase in the amount of data, the emergence of new financial products and the digitalization of traditional ones require financial market participants to create and improve data management systems.

    The main tasks of data management systems development:

    improving the quality and reliability of data, increasing their efficiency, transparency of data preparation processes for regulatory reporting, increasing flexibility and speed of response to changes in regulation, increasing the efficiency of core business processes.

    The Bank of Russia believes that data management systems of individual financial institutions are important for maintaining the quality of data in the country’s financial system as a whole. Proper data management is also necessary for the timely and complete provision of regulatory reporting, on the basis of which supervisory decisions are made, among other things.

    The conditions for the development of data management systems are created by the Bank of Russia taking into account global experience, the current level of development of financial organizations, current restrictions on technologies and general challenges facing the domestic financial market.

    In 2024, the regulator created a working group on the development of data management systems for financial market participants, which includes representatives of the Bank of Russia’s structural divisions and the director of data management for financial institutions. The head of the working group is Deputy Chairman of the Bank of Russia Valery Kazarin. The working group includes subgroups to develop a methodology for assessing the maturity of data management systems for financial market participants and to develop methodological recommendations for the development of data management systems for financial market participants.

    The working group has developed recommendations for the development of data management systems for financial market participants and a methodology for self-assessing the maturity of data management systems for financial market participants.

    Market participants are encouraged to regularly conduct self-assessments of the maturity level of data management systems, which will improve the quality of data and analytics, optimize information management processes, and more quickly adapt to regulatory changes. Based on the results of the self-assessment, a market participant can take advantage of recommendations of the working group to improve the efficiency of their processes and technological solutions.

    Responsible structural unit: Department of Data, Projects and Processes

    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 Russia: Financial News: Recommendations for financial market participants on the conceptual design of the “Metadata Management” process

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    The development of modern technologies, the increase in the amount of data, the emergence of new financial products and the digitalization of traditional ones require financial market participants to create and improve data management systems.

    The main tasks of data management systems development:

    improving the quality and reliability of data, increasing their efficiency, transparency of data preparation processes for regulatory reporting, increasing flexibility and speed of response to changes in regulation, increasing the efficiency of core business processes.

    The Bank of Russia believes that data management systems of individual financial institutions are important for maintaining the quality of data in the country’s financial system as a whole. Proper data management is also necessary for the timely and complete provision of regulatory reporting, on the basis of which supervisory decisions are made, among other things.

    The conditions for the development of data management systems are created by the Bank of Russia taking into account global experience, the current level of development of financial organizations, current restrictions on technologies and general challenges facing the domestic financial market.

    In 2024, the regulator created a working group on the development of data management systems for financial market participants, which includes representatives of the Bank of Russia’s structural divisions and the director of data management for financial institutions. The head of the working group is Deputy Chairman of the Bank of Russia Valery Kazarin. The working group includes subgroups to develop a methodology for assessing the maturity of data management systems for financial market participants and to develop methodological recommendations for the development of data management systems for financial market participants.

    The working group has developed recommendations for the development of data management systems for financial market participants and a methodology for self-assessing the maturity of data management systems for financial market participants.

    Market participants are encouraged to regularly conduct self-assessments of the maturity level of data management systems, which will improve the quality of data and analytics, optimize information management processes, and more quickly adapt to regulatory changes. Based on the results of the self-assessment, a market participant can take advantage of recommendations of the working group to improve the efficiency of their processes and technological solutions.

    Responsible structural unit: Department of Data, Projects and Processes

    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 Africa: Op-Ed: Financing Energy Access in Africa: Leveraging Fossil Fuel Revenues to End Energy Poverty (By NJ Ayuk)

    Source: APO – Report:

    NJ Ayuk, Executive Chairman of the African Energy Chamber (https://EnergyChamber.org)

    In an emissions-focused world, do oil and gas revenues have a role to play in ending energy poverty in Africa? It may sound counterintuitive, but many would argue that they do, albeit as enablers of a future powered by alternative energy sources.

    The key lies in recognizing that Africa’s situation is unique, and solutions take time, building on what we have and what we can do with it. This means that, in working towards a just energy transition, the continent’s oil and gas resources shouldn’t be viewed as obstacles that need to be immediately replaced by renewable energy sources. Instead, rather than prematurely phasing out fossil fuels in response to global pressure, Africa should harness these revenues responsibly to finance its energy transition and ultimately eradicate energy poverty.

    Prioritizing Development Alongside Sustainability

    Nearly 600 million Africans still live without access to electricity (https://apo-opa.co/3U6V4uH). This access is a fundamental human right, yet energy poverty remains one of the continent’s most significant barriers to development. This undermines health systems, education, industrialization, and dignity. As the world debates how to rapidly achieve net-zero, Africa’s priority is different: how to power its people now, while building a sustainable future.

    Measuring Africa’s energy transition progress against external calls for an abrupt end to fossil fuels risks leaving millions behind. Our continent contributes less than 4% (https://apo-opa.co/4odEQxF) to global emissions, yet we are expected to decarbonize at the same pace as industrialized nations that built their wealth on hydrocarbons.

    Instead, the continent’s abundance of fossil fuels should be viewed as a bridge, not a barrier. The African Energy Chamber (AEC) Africa-Paris Declaration (https://apo-opa.co/3GO1ImM) underscores this principle – Africa’s oil and gas revenues can and must be used as a financial lever to invest in electrification, clean energy, and infrastructure projects. This pragmatic and just approach prioritizes development alongside sustainability, not instead of.

    There are several ways to achieve this. First, reinvesting oil and gas revenues into rural electrification can transform communities. Decentralized solutions like off-grid solar and mini-grids offer practical ways to reach remote areas. Although urban dwellers do experience power outages, for many rural populations, it’s a way of life. For the mother cooking with firewood or the student studying by candlelight, a small solar grid is life-changing. Fossil fuel revenues can finance these systems at scale, bridging the immediate access gap while longer-term grid expansions are in progress.

    Second, establishing innovative financing mechanisms is essential. For instance, the fledgling Africa Energy Bank (https://apo-opa.co/4l5R2Of) aims to bridge the continent’s estimated $31 billion to $50 billion annual energy funding gap by focusing predominantly on financing energy projects. Launched in 2025, the bank is poised to play a transformative role in mobilizing capital for African energy projects. Additionally, global investors are increasingly exploring energy investment opportunities in Africa. In support of this, development finance institutions, such as the African Development Bank, the World Bank, and the International Finance Corporation, are de-risking investments by offering concessional loans, guarantees, and technical assistance, making investment in African energy projects more attractive. 

    Third, policy reforms that create enabling environments are critical. Here, governments have a role to play in prioritizing revenue-generating projects, creating stable regulatory frameworks, and offering incentives for public-private partnerships. This will support investment, reduce risks, and unlock the transformative power of energy access.

    These solutions demonstrate the importance of a fair and equitable transition and the vital role that fossil fuels will continue to play in achieving this goal. They also prove that this goal is achievable, even if it is on the continent’s own terms.

    Unique Solutions to Africa’s Energy Challenges

    Africa’s path to net-zero has the same end goal as the rest of the world, but it can’t mirror their journey. Our starting points are different, and our development needs are urgent. We understand that climate action can’t be delayed. But it can be just, inclusive, and rooted in African realities. And it can also be supported by revenues from our abundant natural resources.  

    The Africa-Paris Declaration notes that ‘a fair transition recognizes that fossil fuels remain valuable for Africa’s development, prosperity, and energy access goals. Africa doesn’t need to choose between oil and gas or renewables. Given our current position, all are important and require both strategic and sensible deployment. Fossil fuels generate the revenues to invest in solar, wind, hydropower, and grid infrastructure. They fuel industries that create jobs. They support healthcare, education, and innovation.

    When managed responsibly, Africa’s fossil fuel revenue can serve as a bridge to a brighter, greener, and more prosperous continent. Will it be quick and easy? No. Will some question the approach? Most certainly. But the alternative is leaving hundreds of millions of people in the dark.

    – on behalf of African Energy Chamber.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI: Banco Santander-Chile Announces Second Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, July 31, 2025 (GLOBE NEWSWIRE) — Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its results1 for the six-month period ended June 30, 2025, and second quarter 2025 (2Q25).

    Solid financial performance with a ROAE2of 24.5% in 2Q253, the fifth consecutive quarter with a ROAE above 20%.

    As of June 30, 2025, the Bank’s net income attributable to shareholders totaled $550 billion ($2.92 per share and $1.25 per ADR), representing an increase of 62.8% YoY4 and with an ROAE of 25.1% in 6M255 compared to an ROAE of 15.8% in 6M246. The increase in results is explained by an increase in the Bank’s main revenue lines. Operating income increased 22.0% YoY and 12.6% compared to the second quarter of 2024 (2Q24), driven by a better net interest and readjustment income and higher fees and results from financial transactions.

    Compared to the previous quarter (1Q25), net income attributable to shareholders decreased slightly by 0.5%. The UF variation in 2Q25 was lower than in 1Q25, which reduced QoQ7 adjustment gains. The quarter also saw lower results from financial transactions and higher loan loss provisions. This was offset by higher interest income and cost controls. This marked the ROAE of 24.5% in 2Q25, the fifth consecutive quarter with ROAEs above 20%.

    Strong recovery of NIM8, reaching 4.1% in 2Q25

    Accumulated net interest and readjustment income (NII) as of June 30, 2025, increased 26.0% compared to the same period in 2024. This increase in NII was due to higher net interest income due to the effect of a lower monetary policy rate on our funding cost, which fell from 5.0% to 3.9% in 6M25. The increase is also explained by higher readjustment income, resulting from a greater variation in the UF during the period.

    Compared to 1Q25, net interest and readjustment income increased 1.2% QoQ due to a 2.0% increase in average interest earning assets, offset by lower readjustment income due to lower inflation in 2Q25 compared to the previous quarter.

    Given the above, the NIM increased from 3.1% in 2Q24 to 4.1% in 1Q25 and remained at 4.1% in 2Q25.

    The customer base continues to expand, with total customers increasing by 11.5% YoY and digital customers increasing by 7.9% YoY.

    Our strategy of strengthening digital products has led to continued growth in our customer base, reaching approximately 4.5 million customers, of which nearly 2.3 million are digital customers (87% of our active customers).

    The Bank’s market share in checking accounts remains strong at 22.4% through April 2025, driven by increased customer demand for US dollar checking accounts, as customers can open these types of accounts digitally through our platform in a few easy steps. This also demonstrates the success of Getnet’s strategy to encourage cross-selling of other products, such as checking accounts, to SMEs.

    Net commissions increased by 13.2% in 6M25, reaching recurrence levels9of 61.9%.

    Net commissions increased 13.2% in the six months ended June 30, 2025, compared to the same period in 2024, driven by increased customer numbers and greater product usage. As a result, the recurrence ratio (total net commissions divided by core support expenses) increased from 58.3% as of June 2024 to 61.9% as of June 2025, demonstrating that more than half of the Bank’s expenses are funded by commissions generated by our customers.

    Best in Class efficiency10of 35.3% in 6M25.

    The Bank’s efficiency ratio reached 35.3% as of June 30, 2025, better than the 42.1% recorded in the same period last year. Total operating expenses (which include other expenses) increased 2.3% in 6M25 compared to 6M24, driven by administrative expenses primarily related to higher technology expenses in the first quarter, as well as other expenses related to the restructuring of our branch network and the transformation to Work/Café.

    In the first quarter of 2025, the Bank celebrated the major milestone of the Gravity project, the migration from the Mainframe to the Cloud. In January, we transitioned processing to our new Cloud, which resulted in higher transitional technology expenses related to the change and write-downs and impairments related to legacy systems.

    Solid CET1 ratio11of 10.9%.

    Our CET1 ratio rose to 10.9% by the end of June 2025, and the overall Basel III ratio12 will reach 17.0%. The Bank’s capital includes a provision for 60% of 2025 earnings to date.

    Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody’s, A- from Standard & Poor’s, A+ from the Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA. All of our ratings have a stable outlook as of the date of this report.

    As of June 30, 2025, the bank had total assets of Ch$66,188,442 million (US$69,371 million), total gross loans (including those owed by banks) at amortized cost of Ch$40,942,542 million (US$42,911 million), total deposits of Ch$29,614,613 million (US$31,039 million), and shareholders’ equity was $4,514,322 million (US$4,731 million). The BIS capital ratio was 17.0%, with a core capital ratio of 10.9%. As of June 30, 2025, Santander Chile employed 8,660 people and had 231 branches throughout Chile.

    CONTACT INFORMATION
    Cristian Vicuña
    Chief Strategy Officer and Head of Investor Relations
    Banco Santander Chile
    Bandera 140, Floor 20
    Santiago, Chile
    Email: irelations@santander.cl Website: www.santander.cl

    __________________________________________
    1     The information contained in this report is presented in accordance with Chilean Bank GAAP as defined by the Financial Markets Commission (FMC).
    2 Annualized net income attributable to owners of the Bank divided by the average equity attributable to equity holders.
    3 The second quarter of 2025.
    4 Year over year.
    5 The six months ending June 30, 2025.
    6 The six months ending June 30, 2024.
    7 Quarter over quarter.
    8 NIM: Net interest margin. Annualized net interest and readjustment income divided by average interest-earning assets.
    9 Recurrence: net commissions divided by core support costs.
    10 Operating expenses including impairment and other operating expenses/margin+fees+financial trx and other net operating income.
    11 Common Equity Tier 1 divided by risk-weighted assets under Chilean regulation.
    12 Effective equity divided by risk-weighted assets under Chilean regulation.

    The MIL Network –

  • MIL-OSI: TAB Bank Adds Sam Cirelli to Strengthen Northeast Lending Team

    Source: GlobeNewswire (MIL-OSI)

    OGDEN, Utah, July 31, 2025 (GLOBE NEWSWIRE) — TAB Bank has added Sam Cirelli as Vice President, Business Development, to strengthen the Northeast lending team. Based in New York, Cirelli has spent over 30 years as a corporate lender and advisor to small and mid-sized companies. He managed, directed, and closed more than $10 billion in loan commitments across 700 transactions in multiple industries.

    “I’m excited to help TAB grow its business in the Northeast region and use my expertise to develop reliable and creative financial solutions for clients,” said Cirelli. “I’m honored to be part of the TAB Bank team and be a trusted advisor in helping businesses achieve their goals.”

    Cirelli has extensive experience in executive management, portfolio management, underwriting, loan origination and structuring. He was previously an originations manager and sales manager at Triumph, where he grew the Northeast region’s business. He has also founded and led two prominent asset-based lending startups.

    Cirelli was a founding managing partner of Northern Lights Partners, a boutique investment bank raising capital and debt and advising on mergers and acquisitions. He has also served as global loan origination director for General Motors Finance, where he was responsible for the US, UK and Canadian markets.

    Cirelli has been an adjunct professor at New York University, teaching Harvard Case Studies in corporate finance, and at Wagner College, teaching undergraduate and MBA programs in corporate finance. He received a bachelor’s degree in finance and an MBA from St. John’s University.

    About TAB Bank
    At TAB Bank, our mission is to unlock dreams with bold financial solutions that empower individuals and businesses nationwide. We are committed to building value in all we do through our innovative banking products.   Our dedication drives us to continuously improve, ensuring that we meet the evolving needs of our clients with excellence and agility. For over 25 years, we have remained steadfast in offering tailored, technology-enabled solutions designed to simplify and enhance the banking experience. 

    For more information about how we can help you achieve your financial dreams, visit www.TABBank.com.

    Contact Information:
    Trevor Morris
    Director of Marketing
    801-710-6318
    trevor.morris@tabbank.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c9726fbb-6563-49b7-a042-061dab830f6a.

    The MIL Network –

  • MIL-OSI Economics: Monthly Data on India’s International Trade in Services for the Month of June 2025

    Source: Reserve Bank of India

    The value of exports and imports of services during June 2025 is given in the following table.

    International Trade in Services
    (US$ million)
    Month Receipts (Exports) Payments (Imports)
    April – 2025 32,843
    (8.8)    		 16,909
    (0.9)
    May – 2025 32,452
    (9.6)    		 16,694
    (-1.1)
    June – 2025 32,105
    (12.0)    		 15,897
    (5.0)
    Note: Figures in parentheses are growth rates over the corresponding month of the previous year which have been revised on the basis of balance of payments statistics.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/817

    MIL OSI Economics –

  • MIL-OSI Economics: Data on India’s Invisibles for Fourth Quarter (January-March) of 2024-25

    Source: Reserve Bank of India

    The Reserve Bank today released data on India’s invisibles as per the IMF’s Balance of Payments and International Investment Position Manual (BPM6) format for January-March of 2024-25.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/816

    MIL OSI Economics –

  • MIL-OSI Banking: Lending and Deposit Rates of Scheduled Commercial Banks – July 2025

    Source: Reserve Bank of India

    Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of July 2025 are set out in Tables 1 to 7.

    Highlights:

    Lending Rates:

    • The weighted average lending rate (WALR) on fresh rupee loans of SCBs declined to 8.62 per cent in June 2025 from 9.20 per cent in May 2025.

    • The WALR on outstanding rupee loans of SCBs dropped to 9.48 per cent in June 2025 from 9.69 per cent in May 2025.1

    • 1-Year median Marginal Cost of Funds based Lending Rate (MCLR) of SCBs moderated to 8.75 per cent in July 2025 from 8.90 per cent in June 2025.

    Deposit Rates:

    • The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs stood at 5.75 per cent in June 2025 as compared to 6.11 per cent in May 2025.

    • The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was 6.99 per cent in June 2025 (7.07 per cent in May 2025).1

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/818

    MIL OSI Global Banks –

  • MIL-OSI Banking: Samsung TV Plus partners with LADbible Group to launch LADbible FAST Channel

    Source: Samsung

    London, U.K. – 31 July, 2025 – Leading social entertainment business LADbible Group makes its debut on television screens with the launch of the LADbible Free Ad-Supported Streaming TV (FAST) channel.
     
    Now available in the UK on Samsung TV Plus, Samsung’s FAST platform, LADbible FAST Channel will showcase the Group’s most loved original programming 24/7, including hit series such as Minutes With, Snack Wars, Agree to Disagree and Would You Rather.
     
    As viewing habits shift, LADbible Group is expanding its reach to meet audiences exactly where they are. Insights from Samsung’s 2024 Anatomy of a Streamer research report show that Gen Z Samsung Smart TV viewers are embracing streaming TV, watching an average of 1 hour and 38 minutes of streamed content per day, compared to just over 49 minutes for Boomers.
     
    The channel offers a bold mix of entertaining, unfiltered moments with household celebrities and untold stories from around the world, all delivered straight into viewers’ homes. Whether it’s Minutes With, spotlighting powerful, personal stories from mental health advocates to reformed gangsters, or Snack Wars featuring stars like Sabrina Carpenter, Ryan Gosling or Paul Mescal, each show is designed to entertain, spark conversation, and put viewers into the heart of culture.
     
    To mark the launch, LADbible Group will also premiere its new format ‘Jury Room’, a debate show that takes on issues the public can not agree on, hosted by ‘Juries’ – from barristers, business owners, gangsters, to Gen Z influencers. The six-part series will see the first episode questioning, “Should we bring back military conscription in the event of war?”. It will be available on CTV and YouTube.
     
    LADbible’s original programming has seen notable growth and success. Its audience has grown to over 280 million views on YouTube alone with a YOY increase of 20%, averaging a staggering 100 million minutes per month.
     
    Becky Gardner, Head of Originals said, ‘LADbible on TV presents an exciting new opportunity to expand our reach and connect with even more viewers of our shows. This launch reflects our dedication to being where our audience is, delivering always-on entertainment that they love – anytime, anywhere, on any screen. We’re thrilled to bring LADbible directly into people’s homes”
     
    Gus Grimaldi, Head of Samsung TV Plus EMEA, added: “LADbible is a global powerhouse of entertainment, and we’re thrilled to bring their first-ever TV channel to Samsung TV Plus users for free in the UK. With young viewers rapidly turning to CTV and watching from the comfort of their own homes, Samsung TV Plus is at the forefront of connecting audiences with high quality entertainment.  LADbible is the ideal content partner to reach the ever-growing number of FAST TV viewers.”
     
    Availability:
    LADbible is now live on Samsung TV Plus, available pre-installed on 2016+ Samsung Smart TVs and on Samsung Galaxy smartphones and tablets. Channel number: 4093
     
    About LADbible Group
    LADbible Group is a leading social entertainment business, reaching a global audience of 520 million followers. In the UK alone, it reaches two‑thirds of 18‑ to 34‑year‑olds and ranks as the fifth largest social and digital business. The Group operates a diverse portfolio of brands and platforms, including LADbible, SPORTbible, UNILAD and Betches, and operates over seven websites. Every month, it generates 13.9 billion views on social and 2,700 views per second. Its purpose is to give young adults a voice by building communities that laugh, think and act, with content that spans entertainment, celebrity interviews, news, live documentary and factual programming. LADbible Group has an international presence spanning all corners of the globe, with physical offices across APAC, US, the UK and Ireland. The Group has been widely recognised across the industry for its impactful social good campaigns, brand partnerships and original programming. This includes Media Brand of the Year at the Media Week Awards, Commercial Team of the Year at the Campaign Media Awards and Web Channel of the Year at the Broadcast Digital Awards.
     
    About Samsung TV Plus
    Samsung TV Plus is free streaming, TV with no subscription and no additional device or credit card needed. The service is pre-installed on all 2016+ Samsung Smart TVs, and on Samsung Galaxy smartphones and tablets in select territories. Samsung TV Plus instantly delivers a vast and growing library across multiple genres including news, sports, entertainment, as well as a video on demand catalogue of your favourite movies and popular shows. The free, ad-supported streaming video service is available globally in 30 territories, all you need is an internet connection. For the latest on Samsung TV Plus, please visit www.samsungtvplus.com.

    MIL OSI Global Banks –

  • MIL-OSI Africa: Burkina Faso: African Development Bank supports youth entrepreneurship in rural areas

    Source: APO – Report:

    The African Development Bank (www.AfDB.org) and the Government of Burkina Faso launched the third phase of the incubator program of the Support Project for Youth Employment and Skills Development in Rural Areas (PADEJ-MR in the French acronym) on July 15, 2025, in Ouagadougou, the capital of Burkina Faso.

    Ms. Franceline Kaboré, representing the country’s Minister of Sports, Youth, and Employment, and Ms. Mouna Diawara, Head of Operations both attended.

    The PADEJ-MR aims to promote the economic empowerment and resilience of young people in rural areas through entrepreneurship. The project, with a total cost of €13.62 million, mainly financed by a €12.25 million grant from the African Development Bank, has supported the establishment of an incubator mechanism providing practical training in financial education and safeguards, personalized coaching, and local technical support.

    The initiative aims to help young people convert their ideas into viable businesses in promising sectors such as agriculture, agri-food, services, crafts, and new technologies. In the third phase of the incubator program, 65 young people from the four regions covered by the Project are receiving support to help them prepare business plans that are eligible for financing.

    Ms. Franceline Kaboré commended the African Development Bank’s commitment to the PADEJ-MR. She noted that youth entrepreneurship is a national priority enshrined in the strategic vision of the government of Burkina Faso.

    Ms. Mouna Diawara emphasized that “the Project to Support Youth Employment and Skills Development in Rural Areas is a concrete and integrated response to the problem of youth unemployment in rural areas. The African Development Bank is ready to continue supporting Burkina Faso in its economic transformation efforts, with a particular focus on opportunities for young people and women.”

    Sévérine Lankouandé, speaking on behalf of the beneficiaries of the incubator, expressed gratitude to the government and to the African Development Bank for the opportunities that the incubator program had already provided. A cohort of young entrepreneurs have already received training that will enable them to launch transformative enteprises.

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

    Media contact:
    Department of Communication and External Relations
    media@afdb.org

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI USA: Bankruptcy Filings Rise 11.5 Percent Over Previous Year

    Source: United States Courts

    Personal and business bankruptcy filings rose 11.5 percent in the twelve-month period ending June 30, 2025, compared with the previous year.

    According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 542,529 in the year ending June 2025, compared with 486,613 cases in the previous year.

    Business filings rose 4.5 percent, from 22,060 to 23,043 in the year ending June 30, 2025. Non-business bankruptcy filings rose 11.8 percent to 519,486, compared with 464,553 in the previous year.

    Bankruptcy totals for the previous 12 months are reported four times annually. 

    For more than a decade, total filings fell steadily, from a high of nearly 1.6 million in September 2010 to a low of 380,634 in June 2022. Total filings have increased each quarter since then, but they remain far lower than historical highs.

    Business and Non-Business Filings, Years Ending June 30, 2021-2025
    Year Business Non-Business Total
    2025 23,043 519,486 542,529
    2024 22,060 464,553 486,613
    2023 15,724 403,000 418,724
    2022 12,748 367,886 380,634
    2021 18,511 443,798 462,309
    Total Bankruptcy Filings By Chapter, Years Ending June 30, 2021-2025
    Year Chapter
      7 11 12 13
    2025 333,321 8,408 282 200,290
    2024 284,975 8,717 181 192,421
    2023 239,125 5,986 147 173,362
    2022 239,750 4,429 201 136,169
    2021 335,886 6,871 438 118,864

    Additional statistics released today include:

    • Business and non-business bankruptcy filings for the 12-month period ending June 30, 2025 (Table F-2, 12-month),
    • A comparison of 12-month data ending June 2024 and June 2025 (Table F),
    • Filings for the most recent three months, (Table F-2, 3-month); and filings by month (Table F-2, April, May, and June),
    • Bankruptcy filings by county (Report F-5A).

    For more on bankruptcy and its chapters, view the following resources:

    MIL OSI USA News –

  • MIL-OSI Submissions: The quiet war: What’s fueling Israel’s surge of settler violence – and the lack of state response

    Source: The Conversation – USA (3) – By Arie Perliger, Director of Security Studies and Professor of Criminology and Justice Studies, UMass Lowell

    An Israeli soldier prays in the Evyatar outpost in the Israeli-occupied West Bank on July 7, 2024. AP Photo/Ohad Zwigenberg

    Since Oct. 7, 2023, as Israel’s war against Hamas drags on in the Gaza Strip, a quieter but escalating war has unfolded in the West Bank between Israelis and Palestinians.

    While precise figures are elusive, United Nations estimates indicate that Jewish settlers have carried out around 2,000 attacks against Palestinians since the war in Gaza began. That number represents a dramatic surge compared with any previous period during the nearly six decades Israel has controlled the West Bank.

    Attacks include harassment of Palestinian villagers trying to access their crops or work outside their villages, as well as more extreme and organized violence, such as raiding villages to vandalize property. While many of the attacks are unprovoked, some are what settlers call “price tag” actions: retaliation for Palestinian violence against Israelis, such as car-rammings, rock-throwing and stabbings.

    Settlers’ attacks displaced more than 1,500 Palestinians in the first year of the war in Gaza, and gun violence is increasingly common. Since October 2023, more than 1,000 Palestinians in the West Bank have been killed. While most of these fatalities resulted from military operations, some were killed by settlers.

    Mourners attend the funeral of three Palestinians who were killed when Jewish settlers stormed the West Bank village of Kafr Malik, on June 26, 2025.
    AP Photo/Leo Correa

    As a scholar who has studied Jewish religious extremism for over two decades, I contend this campaign is not merely a result of rising tension between the settlers and their Palestinian neighbors amid the Gaza conflict. Rather, it is fueled by a confluence of ideological fervor, opportunism and far-right Israelis’ political vision for the region.

    Religious redemption

    Israel has occupied the West Bank since 1967’s Six-Day War against Egypt, Jordan and Syria, transforming this small region of around 2,000 square miles (5,200 square kilometers) to an amalgam of Jewish and Palestinian enclaves. Most countries other than Israel consider Jewish settlements illegal, but they have rapidly expanded in recent decades, becoming a major challenge for any settlement of the Israeli-Palestinian conflict.

    The ideological roots of violence lie within religious Zionism: a worldview embraced by about 20% of Israel’s Jewish population, including most West Bank settlers.

    The great majority of the leaders of the early Zionist movement held strong secular views. They pushed for the creation of a Jewish state over the objections of Orthodox figures, who argued that it should be a divine creation rather than a human-made polity.

    Religious Zionists, on the other hand, view the creation of modern-day Israel and its military victories as steps in a divine redemption, which will culminate in a Jewish kingdom led by a heaven-sent Messiah. Adherents believe contemporary events, particularly those asserting Jewish control over the entire historical land of Israel, can accelerate this process.

    In recent decades, influential religious Zionist leaders have argued that final redemption requires Israel’s total military triumph and the annihilation of its enemies, particularly the Palestinian national movement. From this perspective, the devastation of Oct. 7 and the subsequent war are a divine test – one the nation can only pass by achieving a complete victory.

    This belief system fuels most religious Zionists’ opposition to ending the war, as well as their advocacy for scorched-earth policies in Gaza. Some hope to rebuild the Jewish settlements in the strip that Israel evacuated in 2005.

    Some religious Zionists hope to reestablish Jewish settlements in Gaza.‘
    Sally Hayden/SOPA Images/LightRocket via Getty Images

    The violence in the West Bank reflects an extension of the same beliefs. Extreme groups within the settler population aim to solidify Jewish control by making Palestinian communities’ lives in the region unsustainable.

    Opportunistic violence

    Hamas’ Oct. 7 massacre, which killed over 1,200 Israelis, traumatized the nation. It also hardened many Jewish Israelis’ conviction that a Palestinian state would be an existential threat, and thus Palestinians cannot be partners for peace.

    This shift in sentiment created a permissive environment for violence. While settler attacks previously drew criticism from across the political spectrum, extremist violence faces less public condemnation today – as does the government’s lack of effort to curb it.

    This increase in violence is also enabled by a climate of impunity. Israeli security forces have been stretched thin by operations in Gaza, Syria, Iran and beyond. In the West Bank, the military increasingly relies on settler militias known as “Emergency Squads,” which are armed by the Israeli military for self-defense, and army units composed primarily of religious Zionist settlers, such as the Netzah Yehuda Battalion. Such groups have little incentive to stop attacks on Palestinians, and at times, they have participated.

    This dynamic has dangerously blurred the line between the state military and militant settlers. The Israeli police, meanwhile, under the command of far-right National Security Minister Itamar Ben-Gvir, appear focused on protecting settlers. Police leadership has been accused of ignoring intelligence about planned attacks and failing to arrest violent settlers or enforce restraining orders. Yesh Din, an Israeli human rights group, asserts that just 3% of attacks have resulted in a conviction.

    In June 2025, military attempts to curb settler militancy triggered a violent backlash, as extremist settlers attacked military commanders and tried to set fire to military facilities. Settlers view efforts to restrict their actions as illegitimate and a betrayal of Jewish interests in the West Bank.

    Political vision

    Violence by extremist settlers is not random; it is one arm of a coordinated pincer strategy to entrench Jewish control over the West Bank.

    Emergency volunteers put out a fire during an attack by Israeli right-wing settlers on the West Bank village of Turmusaya on June 26, 2025.
    Ilia Yefimovich/picture alliance via Getty Images

    While militant settlers create a climate of fear, Israeli authorities have undermined legal efforts to stop the violence – ending administrative detention for settler suspects, for example. Meanwhile, the government has intensified policies that undermine Palestinians’ economic development, freedom of movement and land use. In May, finance minister and far-right leader Bezalel Smotrich approved 22 new settlements, calling it a “historic decision” that signaled a return to “construction, Zionism, and vision.”

    Together, violence from below and policy from above advance a clear strategic goal: the coerced depopulation of Palestinians from rural areas to solidify Israeli sovereignty over the entire West Bank.

    Levers for change

    The militant elements of the settler movement constitute a fractional segment of Israeli society. When it comes to improving the situation in the West Bank, broad punitive measures against the entire country, such as economic boycotting and divestment, or blocking access to scientific, economic and cultural programs and organizations, have historically proved ineffective.

    Instead, such policies seem to entrench many Israelis’ perception of international bias and double standards: the sense that critics are antisemitic, or that few outsiders understand the country’s challenges – particularly in light of threats from entitles like Iran, Hamas and Hezbollah, which openly seek Israel’s elimination.

    More targeted policies aim specifically at the Israeli far right, including sanctions – economic, political or cultural – directed at settler communities and their infrastructure. Canada, Australia, New Zealand, Norway and the U.K. have imposed travel bans on Ben-Gvir and Smotrich, and frozen their assets in those countries. Similarly, I believe decisions to ban goods produced in the West Bank settlements, as Ireland has recently debated, would be more effective than banning all Israeli products.

    This targeted approach, I would argue, would allow the international community to cultivate stronger alliances with the many Israelis concerned about the settlements and Palestinians’ rights in the West Bank.

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

    – ref. The quiet war: What’s fueling Israel’s surge of settler violence – and the lack of state response – https://theconversation.com/the-quiet-war-whats-fueling-israels-surge-of-settler-violence-and-the-lack-of-state-response-261990

    MIL OSI –

  • MIL-OSI: Bogota Financial Corp. Reports Results for the Three and Six Months Ended June 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    TEANECK, N.J., July 31, 2025 (GLOBE NEWSWIRE) — Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company for Bogota Savings Bank (the “Bank”), reported net income for the three months ended June 30, 2025 of $224,000, or $0.02 per basic and diluted share, compared to a net loss of $432,000, or $0.03 per basic and diluted share, for the comparable prior year period. The Company reported net income for the six months ended June 30, 2025 of $955,000, or $0.08 per basic and diluted share, compared to a net loss of $873,000, or $0.07 per basic and diluted share, for the comparable prior year period. Income for the six months ended June 30, 2025 included a one-time death benefit from the Company’s bank-owned life insurance policy related to a former employee of approximately $543,000.

    Other Financial Highlights:

    • Total assets decreased $49.7 million, or 5.1%, to $921.8 million at June 30, 2025 from $971.5 million at December 31, 2024, due largely to a decrease in cash and cash equivalents and loans.
    • Cash and cash equivalents decreased $31.9 million, or 61.1%, to $20.3 million at June 30, 2025 from $52.2 million at December 31, 2024 due as excess funds were used to pay down borrowings.
    • Securities increased $4.3 million, or 3.1%, to $144.6 million at June 30, 2025 from $140.3 million at December 31, 2024.
    • Net loans decreased $18.5 million, or 2.6%, to $693.2 million at June 30, 2025 from $711.7 million at December 31, 2024, primarily due to decreases in residential mortgages and construction loans.
    • Total deposits at June 30, 2025 were $628.2 million, decreasing $14.0 million, or 2.2%, compared to $642.2 million at December 31, 2024, due to a $11.5 million decrease in certificates of deposit, a $2.8 million decrease in NOW accounts, a $2.3 million decrease in money market accounts and a $2.0 million decrease in noninterest bearing checking accounts. The decreases were offset by a $4.6 million increase in savings accounts. The average rate on deposits decreased 16 basis points to 3.75% for the first half of 2025 from 3.91% for the first half of 2024 due to lower interest rates and a lesser percentage of deposits consisting of higher-costing certificates of deposit.
    • Federal Home Loan Bank advances decreased $36.2 million, or 21.0% to $135.9 million at June 30, 2025 from $172.2 million as of December 31, 2024. The decrease in borrowings was largely attributable to advances that matured during the six months ended June 30, 2025.

    Kevin Pace, President and Chief Executive Officer, said, “The first half of 2025 has fallen in line with our projections. While loan demand has remained steady, we expect an uptick later this year and into early 2026. We remain dedicated to continued growth in our commercial portfolio while ensuring we limit risk to certain markets and property types. Growth in consumer and commercial deposits is another key initiative as we look to reduce cost of funds.”

    “We were able to complete our 5th stock buyback recently. Since the IPO, we have reduced our outstanding shares by 1,653,571 and improved our tangible book value per minority share from $22.04 to $29.10. We continue to focus efforts on improving shareholder value.”

    Income Statement Analysis

    Comparison of Operating Results for the Three Months Ended June 30, 2025 and June 30, 2024

    Net income increased $657,000, or 151.9%, to $224,000 for the three months ended June 30, 2025 from a net loss of $432,000 for the three months ended June 30, 2024. This increase was primarily due to an increase of $951,000 in net interest income, partially offset by a decrease of $229,000 in income tax benefit.

    Interest income increased $31,000, or 0.3%, to $10.5 million for the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

    Interest income on cash and cash equivalents decreased $21,000, or 16.4%, to $106,000 for the three months ended June 30, 2025 from $127,000 for the three months ended June 30, 2024 due to a 164 basis point decrease in the average yield from 5.90% for the three months ended June 30, 2024 to 4.26% for the three months ended June 30, 2025 due to the lower interest rate environment. This was offset by a $1.3 million increase in the average balance to $9.9 million for the three months ended June 30, 2025 from $8.6 million for the three months ended June 30, 2024, reflecting loan and securities repayments, which were offset by a reduction of borrowings.

    Interest income on loans decreased $7,000, or 0.1%, as a seven basis point increase in the yield was offset by a $12.3 million decrease in the average balance of loans.

    Interest income on securities increased $86,000, or 4.6%, due to a 151 basis point increase in the average yield offset by a $44.4 million decrease in the average balance. The changes in the yield and average balance reflect that, in the fourth quarter of 2024, the Company sold approximately $66.0 million in amortized cost ($57.1 million in market value) of securities with a weighted average yield of 1.89% and reinvested $32.7 million of these proceeds into securities with a weighted average yield of 5.60%.

    Interest expense decreased $920,000, or 11.9%, from $7.7 million for the three months ended June 30, 2024 to $6.8 million for the three months ended June 30, 2025 due to lower average balances and costs on deposits and lower balances on borrowings. During the three months ended June 30, 2025, the use of hedges reduced the interest expense on the Federal Home Loan Bank advances and brokered deposits by $186,000. At June 30, 2025, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. 

    Interest expense on interest-bearing deposits decreased $730,000, or 11.7%, to $5.5 million for the three months ended June 30, 2025 from $6.3 million for the three months ended June 30, 2024. The decrease was due to a 32 basis point decrease in the average cost of deposits to 3.67% for the three months ended June 30, 2025 from 3.99% for the three months ended June 30, 2024. The decrease in the average cost of deposits was due to the lower interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit decreased $35.4 million to $482.5 million for the three months ended June 30, 2025 from $517.9 million for the three months ended June 30, 2024 while the average balance of NOW/money market accounts and savings accounts increased $5.6 million and $4.7 million for the three months ended June 30, 2025, respectively, compared to the three months ended June 30, 2024.

    Interest expense on Federal Home Loan Bank advances decreased $190,000, or 12.9%, from $1.5 million for the three months ended June 30, 2024 to $1.3 million for the three months ended June 30, 2025. The decrease was primarily due to a decrease in the average balance of $40.0 million to $130.3 million for the three months ended June 30, 2025 from $170.3 million for the three months ended June 30, 2024. The decrease was offset by an increase in the average cost of borrowings of 47 basis points to 3.96% for the three months ended June 30, 2025 from 3.49% for the three months ended June 30, 2024 due to the new borrowings being shorter durations at higher rates.

    Net interest income increased $951,000, or 34.7%, to $3.7 million for the three months ended June 30, 2025 from $2.7 million for the three months ended June 30, 2024. The increase reflected a 48 basis point increase in our net interest rate spread to 1.20% for the three months ended June 30, 2025 from 0.72% for the three months ended June 30, 2024. Our net interest margin increased 53 basis points to 1.74% for the three months ended June 30, 2025 from 1.21% for the three months ended June 30, 2024.

    We did not record a provision for credit losses for the three months ended June 30, 2025 compared to a $35,000 provision for credit losses for the three-month period ended June 30, 2024.

    Non-interest income increased $29,000, or 9.4%, to $332,000 for the three months ended June 30, 2025 from $303,000 for the three months ended June 30, 2024. Bank-owned life insurance income increased $13,000, or 6.0%, due to higher balances during 2025, which was augmented by an increase in the gain on sale of loans of $9,000 and an increase in fee and service charge income of $11,000. 

    For the three months ended June 30, 2025, non-interest expense increased $129,000, or 3.5%, over the comparable 2024 period. Professional fees increased $112,000, or 43.2%, due to an increase in audit and consulting fees. Occupancy and equipment costs increased $274,000, or 74.6%, as a result of the lease-buyback transaction completed in the fourth quarter of 2024, which resulted in increased lease expense going forward. These were offset by a $83,000, or 3.9%, reduction in salaries and employee benefits, which decreased due to lower headcount, a $99,000, or 86.1%, decrease in advertising expenses and a $78,000, or 29.4%, decrease in other non-interest expense.

    Income tax expense increased $229,000, or 151.9%, to a benefit of $53,000 for the three months ended June 30, 2025 from a $281,000 benefit for the three months ended June 30, 2024. The decrease was due to an increase of $886,000 in net income. 

    Comparison of Operating Results for the Six Months Ended June 30, 2025 and June 30, 2024

    Net income increased by $1.8 million, or 209.4%, to a net income of $955,000 for the six months ended June 30, 2025 from a net loss of $873,000 for the six months ended June 30, 2024. This increase was primarily due to an increase of $1.9 million in net interest income, partially offset by an increase of $488,000 in income tax expense. Income for the six months ended June 30, 2025 included a one-time death benefit of approximately $543,000 from the Company’s bank-owned life insurance policy related to a former employee.

    Interest income increased $893,000, or 4.4%, from $20.5 million for the six months ended June 30, 2024 to $21.4 million for the six months ended June 30, 2025 due to higher yields on interest-earning assets and a decrease in the average balance of interest-earning assets. 

    Interest income on cash and cash equivalents increased $95,000, or 34.4%, to $371,000 for the six months ended June 30, 2025 from $276,000 for the six months ended June 30, 2024 due to a $4.8 million increase in the average balance to $13.3 million for the six months ended June 30, 2025 from $8.5 million for the six months ended June 30, 2024. This was partially offset by 92 basis point decrease in the average yield from 6.50% for the six months ended June 30, 2024 to 5.58% for the six months ended June 30, 2025.

    Interest income on loans increased $387,000, or 2.3%, to $16.9 million for the six months ended June 30, 2025 compared to $16.5 million for the six months ended June 30, 2024 due primarily to a 18 basis point increase in the average yield from 4.64% for the six months ended June 30, 2024 to 4.82% for the six months ended June 30, 2025, offset by a $10.3 million decrease in the average balance to $701.4 million for the six months ended June 30, 2025 from $711.7 million for the six months ended June 30, 2024.

    Interest income on securities increased $390,000, or 11.5%, to $3.8 million for the six months ended June 30, 2025 from $3.4 million for the six months ended June 30, 2024 primarily due to a 143 basis point increase in the average yield from 3.85% for the six months ended June 30, 2024 to 5.28% for the six months ended June 30, 2025, which was offset by a $32.9 million decrease in the average balance to $143.2 million for the six months ended June 30, 2025 from $176.1 million for the six months ended June 30, 2024. The decrease in the average balance and the increase in the yield was as a result of the balance sheet restructuring undertaken in the fourth quarter of 2024, where certain lower-yielding securities were sold, a portion of the proceeds were reinvested into higher-yielding securities and all remaining held to maturity securities were reclassified as available for sale.

    Interest expense decreased $1.0 million, or 6.6%, from $15.1 million for the six months ended June 30, 2024 to $14.1 million for the six months ended June 30, 2025 due to lower average balances on certificates of deposit and borrowings and a lower rate paid on certificates of deposit. During the six months ended June 30, 2025, the use of hedges reduced the interest expense on the Federal Home Loan Bank advances and brokered deposits by $363,000. At June 30, 2025, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. 

    Interest expense on interest-bearing deposits decreased $938,000, or 7.7%, to $11.3 million for the six months ended June 30, 2025 from $12.2 million for the six months ended June 30, 2024. The decrease was due to a 16 basis point decrease in the average cost of deposits to 3.75% for the six months ended June 30, 2025 from 3.91% for the six months ended June 30, 2024. The decrease in the average cost was driven by a 21 basis point decrease in the average cost of certificates of deposit to 4.13% for the six months ended June 30, 2025 from 4.34% for the six months ended June 30, 2024. The decrease in the average cost of deposits was due to the lower interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit decreased $33.8 million to $483.4 million for the six months ended June 30, 2025 from $517.2 million for the six months ended June 30, 2024 while average NOW/money market accounts and savings accounts increased $7.7 million and $3.6 million for the six months ended June 30, 2025, respectively, compared to the six months ended June 30, 2024.

    Interest expense on Federal Home Loan Bank advances decreased $62,000, or 2.1%. The decrease was primarily due to a decrease in the average balance of $16.2 million to $144.1 million for the six months ended June 30, 2025 from $160.3 million for the six months ended June 30, 2024. The decrease was offset by an increase in the average cost of borrowings of 33 basis points to 3.99% for the six months ended June 30, 2025 from 3.66% for the six months ended June 30, 2024 due to the new borrowings being for shorter durations at higher rates. 

    Net interest income increased $1.9 million, or 35.1%, to $7.3 million for the six months ended June 30, 2025 from $5.4 million for the six months ended June 30, 2024. The increase reflected a 47 basis point increase in our net interest rate spread to 1.15% for the six months ended June 30, 2025 from 0.68% for the six months ended June 30, 2024. Our net interest margin increased 50 basis points to 1.70% for the six months ended June 30, 2025 from 1.20% for the six months ended June 30, 2024.

    We recorded a $80,000 recovery of credit losses for the six months ended June 30, 2025 compared to a $70,000 provision for credit losses for the six-month period ended June 30, 2024. The decrease in the allowance for credit losses was due to the decrease in loans and held-to-maturity securities.

    Non-interest income increased $619,000, or 102.7%, to $1.2 million for the six months ended June 30, 2025 from $602,000 for the six months ended June 30, 2024. Bank-owned life insurance income increased $564,000, or 132.0%, due to a death benefit related to a former employee and higher balances during 2025. In addition to the death benefit, gains on sale of loans also increased by $38,000 when compared to the comparable period in 2024.

    For the six months ended June 30, 2025, non-interest expense increased $345,000, or 4.7%, over the comparable 2024 period. Professional fees increased $114,000, or 25.0%, due to higher audit and consulting expense. Occupancy and equipment costs increased $574,000, or 77.8%, as a result of the lease-buyback transaction completed in the fourth quarter of 2024, which resulted in increased lease expense going forward. These were offset by a $162,000, or 3.8%, reduction in salaries and employee benefit, which decreased due to lower headcount, advertising expense, which decreased by $104,000, or 46.0%, and other non-interest expense, which decreased $102,000, or 20.0%.

    Income tax expense increased $488,000, or 85.8%, to a benefit of $81,000 for the six months ended June 30, 2025 from a $568,000 benefit for the six months ended June 30, 2024. The decrease was due to an increase of $2.3 million in income. 

    Balance Sheet Analysis

    Total assets were $921.8 million at June 30, 2025, representing a decrease of $49.7 million, or 5.1%, from December 31, 2024. Cash and cash equivalents decreased $31.9 million during the period primarily due to the paydown of borrowings. Net loans decreased $18.5 million, or 2.6%, due to $32.0 million in repayments, partially offset by new production of $15.5 million. This resulted in a $14.5 million decrease in the balance of residential loans and a $17.4 million decrease in construction loans, offset by a $7.3 million and $8.0 million of commercial real estate and multi-family loans, respectively. Due to the interest rate environment, we have seen a decrease in demand for residential and construction loans, which have been primary drivers of our loan growth in recent periods. Securities available for sale increased $4.3 million or 3.1%, due to new purchases of mortgage-backed securities. 

    Delinquent loans increased $6.1 million to $20.4 million, or 2.94% of total loans, at June 30, 2025, compared to $14.3 million at December 31, 2024. The increase was primarily due to one commercial real estate loan with a balance of $7.1 million, which is considered well-secured, accruing and in the process of collection. During the same timeframe, non-performing assets decreased from $14.0 million at December 31, 2024 to $13.9 million, which represented 1.50% of total assets at June 30, 2025. No loans were charged-off during the three or six months ended June 30, 2025 or June 30, 2024. The Company’s allowance for credit losses related to loans was 0.37% of total loans and 18.69% of non-performing loans at June 30, 2025 compared to 0.37% of total loans and 18.77% of non-performing loans at December 31, 2024. The Bank does not have any exposure to commercial real estate loans secured by office space. At June 30, 2025, the Company had no allowance for credit losses related to held-to-maturity securities, as the Company did not hold any held-to-maturity securities at June 30, 2025 or at December 31, 2024. 

    Total liabilities decreased $50.8 million, or 6.1%, to $783.4 million mainly due to a $13.9 million decrease in deposits and by a $36.2 million decrease in borrowings. Total deposits decreased $14.0 million, or 2.2%, to $628.2 million at June 30, 2025 from $642.2 million at December 31, 2024. The decrease in deposits reflected a decrease in certificate of deposit accounts, which decreased by $11.5 million to $481.8 million from $493.3 million at December 31, 2024, a decrease in NOW deposit accounts, which decreased by $2.8 million to $52.6 million from $55.4 million at December 31, 2024, a decrease in money market deposit accounts, which decreased by $2.3 million to $11.7 million from $14.0 million at December 31, 2024, and by a decrease in noninterest bearing demand accounts, which decreased by $2.0 million from $32.7 million at December 31, 2024 to $30.7 million at June 30, 2025. At June 30, 2025, brokered deposits were $108.0 million or 17.2% of deposits and municipal deposits were $25.4 million or 4.1% of deposits. At June 30, 2025, uninsured deposits represented 9.1% of the Bank’s total deposits. Federal Home Loan Bank advances decreased $36.2 million, or 21.0%, due to paydown of existing borrowings. Short-term borrowings increased $10.5 million, or 35.6%, to $40.0 million at June 30, 2025 from $29.5 million at December 31, 2024, while long-term borrowings decreased $46.7 million, or 32.8%, to $95.9 million at June 30, 2025 from $142.7 million at December 31, 2024. Total borrowing capacity at the Federal Home Loan Bank is $241.3 million of which $139.0 million has been advanced.

    Total stockholders’ equity increased $1.2 million to $138.4 million, primarily due to net income of $955,000. At June 30, 2025, the Company’s ratio of average stockholders’ equity-to-total assets was 14.96%, compared to 13.99% at December 31, 2024.

    About Bogota Financial Corp.

    Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC. Bogota Savings Bank is a New Jersey chartered stock savings bank that has served the banking needs of its customers in northern and central New Jersey since 1893. It operates from seven offices located in Bogota, Hasbrouck Heights, Upper Saddle River, Newark, Oak Ridge, Parsippany and Teaneck, New Jersey and operates a loan production office in Spring Lake, New Jersey.

    Forward-Looking Statements

    This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, the imposition of tariffs or other domestic or international governmental policies and retaliatory responses, real estate market values in the Bank’s lending area, changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; the availability of low-cost funding; our continued reliance on brokered and municipal deposits; demand for loans in our market area; changes in the quality of our loan and security portfolios, economic assumptions or changes in our methodology, either of which may impact our allowance for credit losses calculation, increases in non-performing and classified loans, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, failure to retain or attract employees and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.

    The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (unaudited)
                 
        As of     As of  
        June 30,
    2025    		     December 31,
    2024    		  
    Assets                
    Cash and due from banks   $ 9,471,838     $ 18,020,527  
    Interest-bearing deposits in other banks     10,861,717       34,211,681  
    Cash and cash equivalents     20,333,555       52,232,208  
    Securities available for sale, at fair value     144,602,468       140,307,447  
    Loans, net of allowance for credit losses of $2,590,950 and $2,620,949, respectively     693,211,303       711,716,236  
    Premises and equipment, net     4,561,786       4,727,302  
    Federal Home Loan Bank (FHLB) stock and other restricted securities     7,204,900       8,803,000  
    Accrued interest receivable     4,225,196       4,232,563  
    Core deposit intangibles     129,255       152,893  
    Bank-owned life insurance     31,329,401       31,859,604  
    Right of use asset     10,506,417       10,776,596  
    Other assets     5,730,379       6,682,035  
    Total Assets   $ 921,834,660     $ 971,489,884  
    Liabilities and Equity                
    Non-interest bearing deposits   $ 30,696,810     $ 32,681,963  
    Interest bearing deposits     597,532,976       609,506,079  
    Total deposits     628,229,786       642,188,042  
    FHLB advances-short term     40,000,000       29,500,000  
    FHLB advances-long term     95,944,439       142,673,182  
    Advance payments by borrowers for taxes and insurance     3,223,479       2,809,205  
    Lease liabilities     10,579,107       10,780,363  
    Other liabilities     5,418,148       6,249,932  
    Total liabilities     783,394,959       834,200,724  
                     
    Stockholders’ Equity                
    Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at June 30, 2025 and December 31, 2024     —       —  
    Common stock $0.01 par value, 30,000,000 shares authorized, 13,008,389 issued and outstanding at June 30, 2025 and 13,059,175 at December 31, 2024     130,083       130,592  
    Additional paid-in capital     55,260,550       55,269,962  
    Retained earnings     90,961,990       90,006,648  
    Unearned ESOP shares (369,670 shares at June 30, 2025 and 382,933 shares at December 31, 2024)     (4,369,992 )     (4,520,594 )
    Accumulated other comprehensive loss     (3,542,930 )     (3,597,448 )
    Total stockholders’ equity     138,439,701       137,289,160  
    Total liabilities and stockholders’ equity   $ 921,834,660     $ 971,489,884  
    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (unaudited)
                 
        Three Months Ended     Six Months Ended  
        June 30,     June 30,  
        2025     2024     2025     2024  
    Interest income                                
    Loans, including fees   $ 8,291,923     $ 8,299,404     $ 16,895,052     $ 16,506,796  
    Securities                                
    Taxable     1,943,360       1,846,717       3,773,754       3,363,060  
    Tax-exempt     2,894       13,124       5,789       26,272  
    Other interest-earning assets     266,987       314,964       754,158       639,268  
    Total interest income     10,505,164       10,474,209       21,428,753       20,535,396  
    Interest expense                                
    Deposits     5,524,138       6,253,895       11,286,462       12,223,776  
    FHLB advances     1,286,421       1,476,600       2,854,448       2,916,669  
    Total interest expense     6,810,559       7,730,495       14,140,910       15,140,445  
    Net interest income     3,694,605       2,743,714       7,287,843       5,394,951  
    (Recovery) provision for credit losses     —       35,000       (80,000 )     70,000  
    Net interest income after (recovery) provision for credit losses     3,694,605       2,708,714       7,367,843       5,324,951  
    Non-interest income                                
    Fees and service charges     59,755       49,203       115,574       107,790  
    Gain on sale of loans     8,768       —       37,830       —  
    Bank-owned life insurance     228,392       215,056       990,623       427,015  
    Other     34,795       38,945       77,055       67,477  
    Total non-interest income     331,710       303,204       1,221,082       602,282  
    Non-interest expense                                
    Salaries and employee benefits     2,059,942       2,143,388       4,140,141       4,301,953  
    Occupancy and equipment     640,444       366,908       1,311,913       738,025  
    FDIC insurance assessment     103,934       106,716       210,520       207,313  
    Data processing     305,034       318,520       620,731       622,125  
    Advertising     16,000       115,100       121,500       225,200  
    Director fees     170,812       151,549       330,256       307,249  
    Professional fees     372,364       260,112       571,094       456,897  
    Other     185,972       263,490       408,017       510,112  
    Total non-interest expense     3,854,502       3,725,783       7,714,172       7,368,874  
    Income (loss) before income taxes     171,813       (713,865 )     874,753       (1,441,641 )
    Income tax benefit     (52,582 )     (281,386 )     (80,589 )     (568,182 )
    Net income (loss)   $ 224,395     $ (432,479 )   $ 955,342     $ (873,459 )
    Earnings (loss) per Share – basic   $ 0.02     $ (0.03 )   $ 0.08     $ (0.07 )
    Earnings (loss) per Share – diluted   $ 0.02     $ (0.03 )   $ 0.08     $ (0.07 )
    Weighted average shares outstanding – basic     12,635,990       12,803,925       12,642,744       12,828,428  
    Weighted average shares outstanding – diluted     12,641,179       12,803,925       12,644,701       12,828,428  
    BOGOTA FINANCIAL CORP.
    SELECTED RATIOS
    (unaudited)
                 
        At or For the Three Months     At or for the Six Months  
        Ended June 30,     Ended June 30,  
        2025     2024     2025     2024  
    Performance Ratios (1):                                
    Return (loss) on average assets (2)     0.02 %     (0.18 )%     0.10 %     (0.18 )%
    Return (loss) on average equity (3)     0.16 %     (1.32 )%     0.10 %     (1.32 )%
    Interest rate spread (4)     1.20 %     0.72 %     1.15 %     0.68 %
    Net interest margin (5)     1.74 %     1.21 %     1.70 %     1.20 %
    Efficiency ratio (6)     95.73 %     122.28 %     90.66 %     122.87 %
    Average interest-earning assets to average interest-bearing liabilities     116.49 %     114.12 %     115.24 %     114.56 %
    Net loans to deposits     110.34 %     109.02 %     110.34 %     109.02 %
    Average equity to average assets (7)     15.02 %     13.48 %     14.88 %     14.71 %
    Capital Ratios:                                
    Tier 1 capital to average assets                     15.32 %     13.52 %
    Asset Quality Ratios:                                
    Allowance for credit losses as a percent of total loans                     0.37 %     0.39 %
    Allowance for credit losses as a percent of non-performing loans                     18.69 %     21.20 %
    Net charge-offs to average outstanding loans during the period                     0.00 %     0.00 %
    Non-performing loans as a percent of total loans                     2.00 %     1.82 %
    Non-performing assets as a percent of total assets                     1.50 %     1.33 %
    (1 ) Certain performance ratios for the three and six months ended June 30, 2025 and 2024 are annualized.
    (2 ) Represents net income (loss) divided by average total assets.
    (3 ) Represents net income (loss) divided by average stockholders’ equity.
    (4 ) Represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of average interest-bearing liabilities. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2025 and 2024.
    (5 ) Represents net interest income as a percent of average interest-earning assets. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2025 and 2024.
    (6 ) Represents non-interest expenses divided by the sum of net interest income and non-interest income.
    (7 ) Represents average stockholders’ equity divided by average total assets.


    LOANS

    Loans are summarized as follows at June 30, 2025 and December 31, 2024:

        June 30,     December 31,  
        2025     2024  
        (unaudited)  
    Real estate:                
    Residential First Mortgage   $ 458,212,962     $ 472,747,542  
    Commercial Real Estate     125,349,129       118,008,866  
    Multi-Family Real Estate     82,118,178       74,152,418  
    Construction     25,766,387       43,183,657  
    Commercial and Industrial     4,282,269       6,163,747  
    Consumer     73,328       80,955  
    Total loans     695,802,253       714,337,185  
    Allowance for credit losses     (2,590,950 )     (2,620,949 )
    Net loans   $ 693,211,303     $ 711,716,236  

    The following tables set forth the distribution of total deposit accounts, by account type, at the dates indicated:

        At June 30,     At December 31,  
        2025     2024  
        Amount     Percent     Average Rate     Amount     Percent     Average Rate  
                                                     
        (unaudited)  
    Noninterest bearing demand accounts   $ 30,696,810       4.89 %     — %   $ 32,681,963       5.09 %     — %
    NOW accounts     52,611,377       8.37 %     2.64       55,378,051       8.62 %     2.53  
    Money market accounts     11,677,716       1.86 %     0.48       13,996,460       2.18 %     0.58  
    Savings accounts     51,419,664       8.18 %     2.02       46,851,793       7.30 %     1.90  
    Certificates of deposit     481,824,219       76.70 %     3.88       493,279,775       76.81 %     4.37  
    Total   $ 628,229,786       100.00 %     3.37 %   $ 642,188,042       100.00 %     3.42 %


    Average Balance Sheets and Related Yields and Rates

    The following tables present information regarding average balances of assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amounts of interest expense on average interest-bearing liabilities, and the resulting annualized average yields and costs. The yields and costs for the periods indicated are derived by dividing income or expense by the average balances of assets or liabilities, respectively, for the periods presented. Average balances have been calculated using daily balances. Nonaccrual loans are included in average balances only. Loan fees are included in interest income on loans and are not material.

        Three Months Ended June 30,  
        2025     2024  
        Average Balance     Interest and Dividends     Yield/ Cost     Average Balance     Interest and Dividends     Yield/ Cost  
        (Dollars in thousands)  
    Assets:   (unaudited)  
    Cash and cash equivalents   $ 9,976     $ 106       4.26 %   $ 8,644     $ 127       5.90 %
    Loans     697,792       8,292       4.77 %     710,058       8,299       4.70 %
    Securities     141,141       1,946       5.52 %     185,497       1,860       4.01 %
    Other interest-earning assets     7,085       161       9.09 %     8,689       188       8.66 %
    Total interest-earning assets     855,994       10,505       4.92 %     912,888       10,474       4.61 %
                                                     
    Non-interest-earning assets     65,094                       58,933                  
    Total assets   $ 921,088                     $ 971,821                  
    Liabilities and equity:                                                
    NOW and money market accounts   $ 73,261     $ 447       2.44 %   $ 67,687     $ 329       1.96 %
    Savings accounts     48,751       249       2.05 %     44,093       205       1.87 %
    Certificates of deposit (1)     482,516       4,828       4.01 %     517,882       5,720       4.44 %
    Total interest-bearing deposits     604,528       5,524       3.67 %     629,662       6,254       3.99 %
                                                     
    Federal Home Loan Bank advances (1)     130,277       1,286       3.96 %     170,295       1,476       3.49 %
    Total interest-bearing liabilities     734,805       6,810       3.72 %     799,957       7,730       3.89 %
    Non-interest-bearing deposits     32,076                       39,162                  
    Other non-interest-bearing liabilities     15,894                       1,654                  
    Total liabilities     782,775                       840,773                  
                                                     
    Total equity     138,313                       131,048                  
    Total liabilities and equity   $ 921,088                     $ 971,821                  
    Net interest income           $ 3,695                     $ 2,744          
    Interest rate spread (2)                     1.20 %                     0.72 %
    Net interest margin (3)                     1.74 %                     1.21 %
    Average interest-earning assets to average interest-bearing liabilities     116.49 %                     114.12 %                
    1. Cash flow and fair value hedges are used to manage interest rate risk. During the three months ended June 30, 2025 and 2024, the net effect on interest expense on the Federal Home Loan Bank advances and certificates of deposit was a reduced expense of $186,000 and $461,000, respectively.
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
    3. Net interest margin represents net interest income divided by average total interest-earning assets.
        Six Months Ended June 30,  
        2025     2024  
        Average Balance     Interest and Dividends     Yield/ Cost     Average Balance     Interest and Dividends     Yield/ Cost  
        (Dollars in thousands)  
    Assets:                                                
    Cash and cash equivalents   $ 13,270     $ 371       5.58 %   $ 8,505     $ 276       6.50 %
    Loans     701,423       16,894       4.82 %     711,744       16,507       4.64 %
    Securities     143,199       3,779       5.28 %     176,081       3,389       3.85 %
    Other interest-earning assets     7,692       384       9.97 %     8,395       363       8.65 %
    Total interest-earning assets     865,584       21,428       4.95 %     904,725       20,535       4.54 %
    Non-interest-earning assets     61,323                       59,313                  
    Total assets   $ 926,907                     $ 964,038                  
    Liabilities and equity:                                                
    NOW and money market accounts   $ 76,313     $ 904       2.39 %   $ 68,569     $ 664       1.95 %
    Savings accounts     47,299       475       2.02 %     43,720       403       1.85 %
    Certificates of deposit (1)     483,380       9,907       4.13 %     517,189       11,157       4.34 %
    Total interest-bearing deposits     606,992       11,286       3.75 %     629,478       12,224       3.91 %
    Federal Home Loan Bank advances (1)     144,120       2,854       3.99 %     160,282       2,916       3.66 %
    Total interest-bearing liabilities     751,112       14,140       3.80 %     789,760       15,140       3.86 %
    Non-interest-bearing deposits     32,425                       38,425                  
    Other non-interest-bearing liabilities     5,420                       2,763                  
    Total liabilities     788,957                       830,948                  
    Total equity     137,950                       133,090                  
    Total liabilities and equity   $ 926,907                     $ 964,038                  
    Net interest income           $ 7,288                     $ 5,395          
    Interest rate spread (2)                     1.15 %                     0.68 %
    Net interest margin (3)                     1.70 %                     1.20 %
    Average interest-earning assets to average interest-bearing liabilities     115.24 %                     114.56 %                
    1. Cash flow hedges are used to manage interest rate risk. During the six months ended June 30, 2025 and 2024, the net effect on interest expense on the Federal Home Loan Bank advances and certificates of deposit was a reduced expense of $363,000 and $749,000, respectively.
       
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
       
    3. Net interest margin represents net interest income divided by average total interest-earning assets


    Rate/Volume Analysis

    The following table sets forth the effects of changing rates and volumes on net interest income. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The net column represents the sum of the prior columns. Changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionally based on the changes due to rate and the changes due to volume.

        Three Months Ended June 30, 2025     Six Months Ended June 30, 2025  
        Compared to     Compared to  
        Three Months Ended June 30, 2024     Six Months Ended June 30, 2024  
        Increase (Decrease) Due to     Increase (Decrease) Due to  
        Volume     Rate     Net     Volume     Rate     Net  
        (In thousands)  
    Interest income:   (unaudited)  
    Cash and cash equivalents   $ 94     $ (114 )   $ (21 )   $ 201     $ (106 )   $ 95  
    Loans receivable     (534 )     526       (7 )     (592 )     979       387  
    Securities     (2,142 )     2,228       86       (1,554 )     1,944       390  
    Other interest earning assets     (80 )     53       (27 )     (71 )     92       21  
    Total interest-earning assets     (2,662 )     2,693       31       (2,017 )     2,910       893  
                                                     
    Interest expense:                                                
    NOW and money market accounts     29       89       118       79       161       240  
    Savings accounts     23       21       44       34       38       72  
    Certificates of deposit     (368 )     (524 )     (892 )     (718 )     (532 )     (1,250 )
    Federal Home Loan Bank advances     (1,138 )     948       (190 )     (591 )     529       (62 )
    Total interest-bearing liabilities     (1,454 )     534       (920 )     (1,197 )     197       (1,000 )
    Net (decrease) increase in net interest income   $ (1,208 )   $ 2,159     $ 951     $ (820 )   $ 2,713     $ 1,893  

    Contacts
    Kevin Pace – President & CEO, 201-862-0660 ext. 1110

    The MIL Network –

  • MIL-OSI Analysis: New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood

    Source: The Conversation – UK – By Scott Lucas, Professor of International Politics, Clinton Institute, University College Dublin

    A new vision for Middle East peace emerged this week which proposes the withdrawal of Israel from Gaza and the West Bank, the disarming and disbanding of Hamas and the creation of a unified Palestinian state. The plan emerged from a “high-level conference” in New York on July 29, which assembled representatives of 17 states, the European Union and the Arab League.

    The resulting proposal is “a comprehensive and actionable framework for the implementation of the two-state solution and the achievement of peace and security for all”.

    Signatories include Turkey and the Middle Eastern states of Saudi Arabia, Qatar, Egypt and Jordan. Europe was represented by France, Ireland, Italy, Norway, Spain and the UK. Indonesia was there for Asia, Senegal for Africa, and Brazil, Canada and Mexico for the Americas. Neither the US nor Israel were present.

    Significantly, it is the first time the Arab states have called for Hamas to disarm and disband. But, while condemning Hamas’s attack on Israel of October 7 2023 and recalling that the taking of hostages is a violation of international law, the document is unsparing in its connection between a state of Palestine and an end to Israel’s assault on Gaza’s civilians.

    It says: “Absent decisive measures toward the two-state solution and robust international guarantees, the conflict will deepen and regional peace will remain elusive.”

    A plan for the reconstruction of Gaza will be developed by the Arab states and the Organisation of Islamic Cooperation – a Jeddah-based group which aims to be the collective voice of the Muslim world – supported by an international fund. The details will be hammered out at a Gaza Reconstruction and Recovery Conference, to be held in Cairo.

    It is a bold initiative. In theory, it could end the Israeli mass killing in Gaza, remove Hamas from power and begin the implementation of a process for a state of Palestine. The question is whether it has any chance of success.

    First, there appears to be growing momentum to press ahead with recognition of the state of Palestine as part of a comprehensive peace plan leading to a two-state solution. France, the UK and, most recently, Canada have announced they would take that step at the UN general assembly in September. The UK stated that it would do so unless Israel agreed to a ceasefire and the commencement of a substantive peace process.



    Read more:
    UK and France pledges won’t stop Netanyahu bombing Gaza – but Donald Trump or Israel’s military could

    These announcements follow those made in May 2024 by Spain, Ireland and Norway, three of the other European signatories. By the end of September at least 150 of the UN’s 193 members will recognise Palestinian statehood. Recognition is largely symbolic without a ceasefire and Israeli withdrawal from both Gaza and the West Bank. But it is essential symbolism.

    For years, many European countries, Canada, Australia and the US have said that recognition could not be declared if there was the prospect of Israel-Palestine negotiations. Now the sequence is reversed: recognition is necessary as pressure for a ceasefire and the necessary talks to ensure the security of both Israelis and Palestinians.

    Israel accelerated that reversal at the start of March, when it rejected the scheduled move to phase two of the six-week ceasefire negotiated with the help of the US, and imposed a blockade on aid coming into the Strip.

    The Netanyahu government continues to hold out against the ceasefire. But its loud blame of Hamas is becoming harder to accept. The images of the starvation in Gaza and warnings by doctors, humanitarian organisations and the UN of an effective famine with the deaths of thousands can no longer be denied.

    Saudi Arabia and Qatar, behind the scenes and through their embassies, have been encouraging European countries to make the jump to recognition. Their efforts at the UN conference in New York this week are another front of that campaign.

    Israel and the Trump administration

    But in the short term, there is little prospect of the Netanyahu government giving way with its mass killing, let alone entering talks for two states. Notably neither Israel nor the US took part in the conference.

    Trump has criticised the scenes of starvation in Gaza. But his administration has joined Netanyahu in vitriolic denunciation of France and the UK over their intentions to recognise Palestine. And the US president has warned the Canadian prime minister, Mark Carney, that recognition of Palestinian statehood would threaten Canada’s trade deal with the US.

    In response to Trump’s concern over the images of starving children and his exhortation “We’ve got to get the kids fed,” Israel has airdropped a few pallets of aid – less than a truck’s worth. Yet this appears more of a public relations exercise directed at Washington than a genuine attempt to ease the terrible condition on the Strip.

    A small number of lorries with supplies from UN and humanitarian organisations have also crossed the border, but only after lengthy delays and with half still held up. There is no security for transport and delivery of the aid inside Gaza.

    A sacrifice for a state?

    So the conference declaration is not relief for Gaza. Instead, it is yet another marker of Israel’s increasing isolation.

    After France’s announcement, the Netanyahu government thundered: “Such a move rewards terror and risks creating another Iranian proxy … A Palestinian state in these conditions would be a launch pad to annihilate Israel.”

    But while recognising Hamas’s mass killing of October 7 2023, most governments and their populations do not perceive Israel as attacking Hamas and its fighters. They see the Netanyahu government and Israeli military slaying and starving civilians.

    Even in the US, where the Trump administration is trying to crush sympathy for Palestine and Gazans in universities, non-governmental organisations and the public sphere, opinion is shifting.

    In a Gallup poll taken in the US and released on July 29, only 32% of respondents supported Israel’s actions in Gaza – an all-time low – and 60% opposed them. Netanyahu was viewed unfavourably by 52% and favourably by only 29%.

    Israel has lost its moment of “normalisation” with Arab states. Its economic links are strained and its oft-repeated claim to being the “Middle East’s only democracy” is bloodstained beyond recognition.

    This will be of no comfort to the people of Gaza facing death. But in the longer term, there is the prospect that this sacrifice will be the catalyst to recognise Palestine that disappeared in 1948.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood – https://theconversation.com/new-peace-plan-increases-pressure-on-israel-and-us-as-momentum-grows-for-palestinian-statehood-262259

    MIL OSI Analysis –

  • MIL-OSI Analysis: New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood

    Source: The Conversation – UK – By Scott Lucas, Professor of International Politics, Clinton Institute, University College Dublin

    A new vision for Middle East peace emerged this week which proposes the withdrawal of Israel from Gaza and the West Bank, the disarming and disbanding of Hamas and the creation of a unified Palestinian state. The plan emerged from a “high-level conference” in New York on July 29, which assembled representatives of 17 states, the European Union and the Arab League.

    The resulting proposal is “a comprehensive and actionable framework for the implementation of the two-state solution and the achievement of peace and security for all”.

    Signatories include Turkey and the Middle Eastern states of Saudi Arabia, Qatar, Egypt and Jordan. Europe was represented by France, Ireland, Italy, Norway, Spain and the UK. Indonesia was there for Asia, Senegal for Africa, and Brazil, Canada and Mexico for the Americas. Neither the US nor Israel were present.

    Significantly, it is the first time the Arab states have called for Hamas to disarm and disband. But, while condemning Hamas’s attack on Israel of October 7 2023 and recalling that the taking of hostages is a violation of international law, the document is unsparing in its connection between a state of Palestine and an end to Israel’s assault on Gaza’s civilians.

    It says: “Absent decisive measures toward the two-state solution and robust international guarantees, the conflict will deepen and regional peace will remain elusive.”

    A plan for the reconstruction of Gaza will be developed by the Arab states and the Organisation of Islamic Cooperation – a Jeddah-based group which aims to be the collective voice of the Muslim world – supported by an international fund. The details will be hammered out at a Gaza Reconstruction and Recovery Conference, to be held in Cairo.

    It is a bold initiative. In theory, it could end the Israeli mass killing in Gaza, remove Hamas from power and begin the implementation of a process for a state of Palestine. The question is whether it has any chance of success.

    First, there appears to be growing momentum to press ahead with recognition of the state of Palestine as part of a comprehensive peace plan leading to a two-state solution. France, the UK and, most recently, Canada have announced they would take that step at the UN general assembly in September. The UK stated that it would do so unless Israel agreed to a ceasefire and the commencement of a substantive peace process.



    Read more:
    UK and France pledges won’t stop Netanyahu bombing Gaza – but Donald Trump or Israel’s military could

    These announcements follow those made in May 2024 by Spain, Ireland and Norway, three of the other European signatories. By the end of September at least 150 of the UN’s 193 members will recognise Palestinian statehood. Recognition is largely symbolic without a ceasefire and Israeli withdrawal from both Gaza and the West Bank. But it is essential symbolism.

    For years, many European countries, Canada, Australia and the US have said that recognition could not be declared if there was the prospect of Israel-Palestine negotiations. Now the sequence is reversed: recognition is necessary as pressure for a ceasefire and the necessary talks to ensure the security of both Israelis and Palestinians.

    Israel accelerated that reversal at the start of March, when it rejected the scheduled move to phase two of the six-week ceasefire negotiated with the help of the US, and imposed a blockade on aid coming into the Strip.

    The Netanyahu government continues to hold out against the ceasefire. But its loud blame of Hamas is becoming harder to accept. The images of the starvation in Gaza and warnings by doctors, humanitarian organisations and the UN of an effective famine with the deaths of thousands can no longer be denied.

    Saudi Arabia and Qatar, behind the scenes and through their embassies, have been encouraging European countries to make the jump to recognition. Their efforts at the UN conference in New York this week are another front of that campaign.

    Israel and the Trump administration

    But in the short term, there is little prospect of the Netanyahu government giving way with its mass killing, let alone entering talks for two states. Notably neither Israel nor the US took part in the conference.

    Trump has criticised the scenes of starvation in Gaza. But his administration has joined Netanyahu in vitriolic denunciation of France and the UK over their intentions to recognise Palestine. And the US president has warned the Canadian prime minister, Mark Carney, that recognition of Palestinian statehood would threaten Canada’s trade deal with the US.

    In response to Trump’s concern over the images of starving children and his exhortation “We’ve got to get the kids fed,” Israel has airdropped a few pallets of aid – less than a truck’s worth. Yet this appears more of a public relations exercise directed at Washington than a genuine attempt to ease the terrible condition on the Strip.

    A small number of lorries with supplies from UN and humanitarian organisations have also crossed the border, but only after lengthy delays and with half still held up. There is no security for transport and delivery of the aid inside Gaza.

    A sacrifice for a state?

    So the conference declaration is not relief for Gaza. Instead, it is yet another marker of Israel’s increasing isolation.

    After France’s announcement, the Netanyahu government thundered: “Such a move rewards terror and risks creating another Iranian proxy … A Palestinian state in these conditions would be a launch pad to annihilate Israel.”

    But while recognising Hamas’s mass killing of October 7 2023, most governments and their populations do not perceive Israel as attacking Hamas and its fighters. They see the Netanyahu government and Israeli military slaying and starving civilians.

    Even in the US, where the Trump administration is trying to crush sympathy for Palestine and Gazans in universities, non-governmental organisations and the public sphere, opinion is shifting.

    In a Gallup poll taken in the US and released on July 29, only 32% of respondents supported Israel’s actions in Gaza – an all-time low – and 60% opposed them. Netanyahu was viewed unfavourably by 52% and favourably by only 29%.

    Israel has lost its moment of “normalisation” with Arab states. Its economic links are strained and its oft-repeated claim to being the “Middle East’s only democracy” is bloodstained beyond recognition.

    This will be of no comfort to the people of Gaza facing death. But in the longer term, there is the prospect that this sacrifice will be the catalyst to recognise Palestine that disappeared in 1948.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood – https://theconversation.com/new-peace-plan-increases-pressure-on-israel-and-us-as-momentum-grows-for-palestinian-statehood-262259

    MIL OSI Analysis –

  • MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu Attends the Opening Ceremony of O-Bank’s Sydney Representative Office

    Source: Republic of China Taiwan

    irector General David Cheng-Wei Wu was honoured to attend the opening ceremony of O-Bank’s Sydney Representative Office, alongside distinguished guests including the Hon. Anthony Roberts MP, the Hon. Rod Roberts MLC, Dr. Hugh McDermott MP, President of the Australia-Taiwan Business Council John Toigo, President of the Taiwanese Chamber of Commerce in Australia Peter Huang, as well as leaders from the Taiwanese banking, business, and community sectors.
    O-Bank President Elton Lee envisions the Sydney Representative Office as a pivotal hub in the bank’s roadmap for global expansion. The bank aims not only to upgrade the office to a full branch but also to establish additional locations across Australia. By collaborating with fellow Taiwanese financial institutions in Australia, O-Bank seeks to deepen financial, trade, and cultural ties between Taiwan and Australia.
    Director General Wu began his remarks by thanking the three members of the New South Wales Parliament for their presence, which demonstrated bipartisan support for the Taiwanese community, the Representative Office, and O-Bank. He noted that, as Taiwan’s first native digital bank, O-Bank’s presence marks the ninth Taiwanese bank in Sydney and the twelfth in Australia — a clear indication of growing financial ties between Taiwan and New South Wales. He further emphasized Taiwan’s active pursuit of membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with the support of Australia. Taiwan’s inclusion would strengthen supply chain integration among like-minded democracies and generate concrete economic benefits at both bilateral and multilateral levels. In short, the CPTPP will be stronger with Taiwan on board.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: PREPARED REMARKS: Sanders Forces Vote to Stop Arms Sales to Israel Amid Starvation in Gaza

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders

    WASHINGTON, July 30 – Sen. Bernie Sanders (I-Vt.) today rose to force a vote on two Joint Resolutions of Disapproval (JRDs) to block offensive arms sales to Israel in light of the daily civilian massacres and unfolding famine created by the Netanyahu government’s policies. The JRD is the only formal mechanism available to Congress to prevent an arms sale noticed by the administration from advancing.

    Sanders’ remarks introducing the vote today, as prepared for delivery, are below and can be watched live HERE:

    M. President, let me begin by stating what this debate is about, and what it is not about. It is not about whether anyone in the Senate disagrees that Hamas is a terrorist organization, which began this war with a brutal terrorist attack on October 7, 2023, that killed 1,200 innocent people and took 250 hostages. Everyone agrees with that.

    The International Criminal Court was right to indict the leaders of Hamas as war criminals for those atrocities. There is also, I believe, no disagreement as to whether or not Israel had a right to defend itself, like any other country suffering an attack like that. Clearly, it did.

    And, in a certain sense, this debate is not really about Israel. It is about the United States of America, and whether we will abide by U.S. and international law, or whether we will continue to contribute billions of dollars to an extremist government in Israel, which has caused an unprecedented humanitarian disaster in Gaza. This debate is over whether or not the United States of America will have any moral credibility on the international scene. Whether or not we will be able, with a straight face, to condemn other countries who commit barbaric acts if we don’t stand up tonight. That is what we are debating.

    M. President, the vast majority of the American people and the world community understand that the Netanyahu government in Israel has gone well beyond defending itself from Hamas. Over the last 21 months, it has waged an all-out, illegal, immoral and horrific war of annihilation against the Palestinian people. 

    This war has already killed some 60,000 Palestinians and wounded more than 143,000 — most of whom are women, children and the elderly. In a population of just over two million, more than 200,000 people have been killed or wounded since this war began. That, M. President, is 10% of the population of Gaza. 

    M. President, to put that into scale so we as Americans can understand the enormity of what is happening there, if that kind of destruction happened in the United States — if 10% of our population were killed or wounded in war, it would mean that 34 million of us would have been killed or wounded.

    The toll on Gaza’s children is unspeakable, and it is literally hard to imagine. The United Nations reports that more than 18,000 children have been killed since this war began. Just this morning, the Washington Post published a list of all these children’s names, and I ask that these names be entered into the Congressional Record.

    I should mention that more than 12,000 of these children were under the age of 12, and more than 3,000 children in Gaza have had one or more limbs amputated. That is how this war has impacted the children in Gaza. But it’s not just the horrific loss of life that we are seeing.

    New satellite imagery shows that Israel’s indiscriminate bombardment has destroyed 70% of all structures in Gaza. The UN estimates that 92% of the housing units have been damaged or destroyed. Most of the population is now living in tents or other makeshift structures.

    And let us not forget, over the last 21 months, these people, most of whom are poor, have been displaced time and time again — told to go here, told to go there, moved around with often no possessions other than the clothing on their backs.

    M. President, the health care system in Gaza has been destroyed. Most of the territory’s hospitals and primary health care facilities have been bombed. More than 1,500 health care workers have been killed, as well as 336 UN staff.

    Gaza’s civilian infrastructure has been totally devastated, including almost 90% of water and sanitation facilities. Raw sewage now runs all over Gaza. Most of the roads have been destroyed. Gaza’s educational system has been obliterated. Hundreds of schools have been bombed, as has every single one of Gaza’s 12 universities. And there has been no electricity in Gaza for 21 months. 

    M. President, all of this is a horror unto itself. But in recent months, the Netanyahu government’s extermination of Gaza has made an unspeakable and horrible situation even worse. 

    From March 2 to May 19, Israel did not allow a single shipment of humanitarian aid into Gaza — no food, no water, no fuel and no medical supplies for a distressed population of two million people over a period of 11 weeks. Since then, Israel has allowed a trickle of aid to get into Gaza, but nowhere near enough to meet the enormous needs of a population besieged for so long. 

    M. President, when you cut off all food to a population, what happens is not surprising. People starve to death. And that is exactly what Israeli policy has deliberately done — it is causing mass starvation and famine.

    Children and other vulnerable people are dying in increasing numbers. In the last two weeks, dozens of young children have died from starvation. Starving mothers cannot breastfeed their infants, and no formula is available, and certainly no clean water to make it, in any case. Hospitals have run out of nutritional treatments, and doctors and nurses who are already treating the desperate, they themselves are going hungry and are fainting from hunger. 

    The World Food Programme says that the food crisis has reached “new and astonishing levels of desperation, with a third of the population not eating for multiple days in a row.” 

    Just yesterday, the gold-standard UN-backed food monitoring group, the IPC, issued a new report saying: “The worst-case scenario of famine is currently playing out in the Gaza Strip.”  

    When mass death from starvation begins, it is difficult to reverse. Aid groups say it will soon be too late to stop a wave of preventable deaths in Gaza, all of which is the direct result of the Israeli government’s policies. 

    M. President, what I’m going to describe now is gruesome, but I think it is important for us to understand what is happening to the children in Gaza.

    Mark Brauner, an American doctor who spent in two weeks in Gaza in June described the situation: “a lot of the children have already passed the point of no return where their physiology has eroded to the point where even refeeding could potentially cause death itself. The gut lining has started to auto-digest and it will no longer have adequate absorptive capacity for water or for nutrition. Death is unfortunately imminent for probably thousands of children.”

    That’s an American physician who was in Gaza in June.

    M. President, what the extremist Netanyahu government is doing now is not an effort to win a war. There is no military purpose in starving thousands and thousands of children. Let us be clear: This is not an effort to win a war, this is an effort to destroy a people.

    Having already killed or wounded more than 200,000 Palestinians, mostly women and children, the extremist Israeli government is using mass starvation to engineer the ethnic cleansing of Gaza. They are trying to drive a desperate people out of their homeland, to God knows where. 

    This is not my speculation; this what Israeli ministers and officials are saying themselves.

    A few months ago, the Finance Minister vowed that “Gaza will be entirely destroyed.” Just last week, another current Israeli minister said: “All Gaza will be Jewish… the government is pushing for Gaza being wiped out. Thank God, we are wiping out this evil.” Another Likud member of the Knesset and former minister called for “Erasing all of Gaza from the face of the earth.”

    And in the West Bank, we see this agenda being carried out clearly and methodically, with more than 500,000 Israeli settlers now illegally occupying land integral to any future Palestinian state. Earlier this month, the Knesset even approved a non-binding motion in favor of formally annexing the West Bank.

    This slow-motion annexation is backed by violence: Israeli security forces and settler extremists have killed thousands of Palestinians in recent years. Israeli settlers brutally beat a young American to death earlier this month, the seventh American killed in the West Bank since 2022. Despite a demand from President Trump’s ambassador to Israel, Mike Huckabee, no one has been held accountable for these deaths.

    M. President, people around the world are outraged by what is going on in Gaza right now, and countries are increasingly demanding that Netanyahu’s government stop what they are doing.

    France and Canada have said they will recognize a Palestinian state. The United Kingdom has said it will do so, as well, if Israel does not immediately end this war and surge humanitarian aid. And at the UN last month, 149 countries voted for a ceasefire resolution condemning the use of starvation as a weapon of war and demanding an end to Israel’s blockade on humanitarian aid. But it is not just the international community. 

    Just yesterday, Gallup, one of the best polling organizations in our country, released a new poll that shows that just 32% of Americans support Israel’s military action in Gaza, while 60% oppose it. To my Democratic colleagues here in the Senate, I would point out that only 8% of Democrats support this war, and just 25% of independents. And to my Republican colleagues, I would point out that more and more Republicans are beginning to speak out against the atrocities of this war and the fact that billions of billions of taxpayer dollars are going to a government in Israel waging an illegal war. 

    Further, M. President, a recent Economist/YouGov poll shows that just 15% of the American people support increasing military aid to Israel, while 35% support decreasing military aid to Israel or stopping it entirely. Just 8% of Democrats support increasing military aid to Israel. 

    M. President, the American people are haunted by the images coming out of Gaza.

    These are desperate children with pots in their hands, crying, begging for food in order to stay alive. That’s what the American people are seeing every night on TV, on the internet and in the newspapers. These are emaciated children, their bodies, in some cases, barely more than skeletons. The American people are seeing miles and miles of rubble where cities and towns once stood. They are seeing innocent people shot down while they wait on line to get food while they are starving.

    M. President, despite these war crimes, carried out daily in plain view, the United States has provided more than $22 billion for Israel’s military operations since this war began. One estimate, based on Brown University research, calculates that the United States has paid for 70% of the Gaza war. In other words, American taxpayer dollars are being used to starve children, bomb schools, kill civilians and support the cruelty of Netanyahu and his criminal ministers. And that, M. President, is why I have brought these two resolutions of disapproval to block offensive arms sales to Israel. 

    S.J.Res.34 would prohibit the U.S.-taxpayer financed $675.7 million sale of thousands of 1,000-pound bombs and many thousands of JDAM guidance kits.

    And S.J.Res.41 would prohibit the sale of tens of thousands of fully automatic assault rifles.

    These arms sales clearly violate the Foreign Assistance Act and the Arms Export Control Act, which prohibit sending arms to countries that violate international law by killing civilians and blocking humanitarian aid — and very few people doubt that that is exactly what Israel is doing. If you want to obey the law, vote for these resolutions. 

    The rifles in question will go to arm a police force overseen by far-right, extremist minister Itamar Ben-Gvir, who has long advocated for the forcible expulsion of Palestinians from the region, who was convicted of support for terrorism by an Israeli court, and who has distributed weapons to violent settlers in the West Bank. Ben-Gvir has formed new police units comprised of extremist settlers and has boasted about how many weapons he has distributed to vigilante settlers in the West Bank. And you want to give him more rifles? That’s what one of these resolutions is about.

    These are rifles the Biden administration held back over fears they would be used by extremist Israeli settlers in the West Bank to terrorize Palestinians and push them from their homes and villages.

    M. President, U.S. taxpayers have spent many, many billions of dollars in support of the racist, extremist Netanyahu government. Enough is enough. 

    Americans want this to end. They do not want to be complicit in an unfolding famine and daily civilian massacres. And we here in Congress tonight have the power to act. No more talks, no more great speeches. But tonight, we have the power to act — the power to force Netanyahu and his extremist government to end this slaughter.

    The time is long overdue for Congress to use the leverage we have — tens of billions in arms and military aid — to demand that Israel end these atrocities.

    At a time when Israeli soldiers are shooting civilians trying to get food aid on a near-daily basis, when extremist settlers are pushing Palestinians from their homes in the West Bank, and when Gaza is witnessing mass starvation as a result of Israeli government policy, the United States should not and must not be providing more weapons to enable these atrocities. 

    M. President, whatever happens tonight, history will condemn those who fail to act in the face of these horrors.

    MIL OSI USA News –

  • MIL-OSI USA: Rosen Helps Lead Effort Calling for Large‑Scale Expansion of Humanitarian Aid to Gaza, Return of Hostages, and Resumption of Negotiations to End the War

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    WASHINGTON, DC – U.S. Senator Jacky Rosen (D‑NV) joined Senators Schiff, Schatz, and Schumer in leading a letter to Secretary of State Marco Rubio and Special Envoy to the Middle East Steve Witkoff raising alarm over the worsening humanitarian crisis and starvation in Gaza. The letter urges a large‑scale expansion of humanitarian aid, calls for immediately bringing all the hostages home, endorses  a return to the negotiating table to end the war, and supports a permanent end to Hamas rule in Gaza.
    “The acute humanitarian crisis in Gaza is also unsustainable and worsens by the day. Hunger and malnutrition are widespread, and, alarmingly, deaths due to starvation, especially among children, are increasing,” wrote the Senators. “The ‘Gaza Humanitarian Foundation’ has failed to address the deepening humanitarian crisis and contributed to an unacceptable and mounting civilian death toll around the organization’s sites. To prevent the situation from getting even worse, we urge you to advocate for a large-scale expansion of humanitarian assistance and services throughout the Gaza Strip, including through the use of experienced multilateral bodies and NGOs that can get life-saving aid directly to those in need and prevent diversion.” 
    “The Israeli hostages, held in Gaza by Hamas since their brutal attack on Israel on October 7th, have suffered far too long, as have their families. It is imperative that those still living be brought home as soon as possible, before more perish as the war drags on. And it is essential that the remains of those presumed killed – including Americans Omer Neutra and Itay Chen – be reunited with their loved ones. After many months of despair, it is long past time to bring all of the hostages home,” wrote the Senators. 
    The full text of the letter is available HERE.
    Senator Rosen has been leading the push for Hamas to release the remaining hostages and has been calling for increased humanitarian aid for innocent civilians in Gaza. As Ranking Member of the Senate Foreign Relations Committee’s Subcommittee on the Near East, Senator Rosen led a hearing focused on the Middle East, where she raised the importance of humanitarian access and a negotiated ceasefire that brings the hostages home. Earlier this year, she traveled to Israel, the West Bank, Jordan, and Iraq, discussing the war in Gaza and humanitarian aid in several of her diplomatic engagements. Senator Rosen also led a bipartisan, bicameral resolution demanding the safe release of hostages still held by Hamas. In January, she applauded the agreement between Israel and Hamas to pause fighting and secure hostage releases.

    MIL OSI USA News –

  • MIL-OSI Banking: Korea Urges Collective Action on Corruption at First APEC High-Level Dialogue Incheon, Republic of Korea | 31 July 2025 Issued by the APEC High-Level Dialogue on Anti-Corruption Cooperation Issued by the APEC High-Level Dialogue on Anti-Corruption Cooperation

    Source: APEC – Asia Pacific Economic Cooperation

    At the opening of the first-ever APEC High-Level Dialogue on Anti-Corruption Cooperation (AHDAC), Vice-Chairperson Myung Soon Lee of the Anti-Corruption and Civil Rights Commission (ACRC) of the Republic of Korea called on member economies to treat transparency and accountability as fundamental pillars of economic resilience and sustainable growth.

    “Today, we face an unprecedented situation marked by rising global economic uncertainty, escalating geopolitical tensions and an accelerating pace of technological transformation,” Lee said in his opening remarks. “Against this backdrop, transparency, fairness and accountability are no longer merely optional values; they have become prerequisites for sustainable growth and international cooperation.”

    “Corruption undermines the investment environment, erodes public trust and weakens democratic governance. Moreover, corruption poses a serious obstacle to building the open and innovative economic community that the Asia-Pacific region aspires to build.”

    “The anti-corruption issues discussed at today’s high-level dialogue are not challenges confined to anti-corruption agencies alone,” he said. “They represent shared responsibilities of all stakeholders, including the private sector, to build a trust-based market order, ensure a fair competitive environment and foster a sustainable economic system.”

    He outlined three key priorities for advancing anti-corruption cooperation in APEC: combating cross-border corruption, enhancing private sector integrity and expanding education and training.

    “Corruption is becoming increasingly covert, transcending borders through digital assets, international procurement and complex financial systems,” Lee noted. “It is imperative that we institutionalize international cooperation in investigations, asset recovery and law enforcement mechanisms.”

    On private sector collaboration, Lee called for stronger corporate integrity frameworks and protection for whistleblowers. “Corruption cannot be eradicated solely through government efforts; it requires active engagement and collaboration from the private sector.”

    He also underscored the importance of education in fostering a long-term culture of integrity, citing Korea’s tailored programs for youth, public officials and businesses. “These efforts lay a solid foundation for reducing corruption throughout society and fostering a culture of integrity.”

    Lee urged participants to move from vision to implementation. “Today’s high-level dialogue must not be merely declaratory in nature, but must serve as a platform for identifying actionable tasks. We are living in an era where transparency is a key to competitiveness and integrity drives sustainable growth.”

    Concluding his remarks, he reaffirmed Korea’s commitment to regional cooperation. “The ACRC and the Government of the Republic of Korea stand fully prepared to actively contribute to such international anti-corruption solidarity. Through this dialogue, I hope that APEC will further advance as a regional platform that presents best practices, including those in the area of anti-corruption, to the global community.”

    For more information or media inquiries, please contact:
    [email protected]

    MIL OSI Global Banks –

  • MIL-OSI Banking: APEC Economies Step Up Cooperation on Digital Policy Challenges Incheon, Republic of Korea | 29 July 2025 APEC Digital Economy Steering Group

    Source: APEC – Asia Pacific Economic Cooperation

    APEC member economies have concluded a two-day meeting of the Digital Economy Steering Group in Incheon, Republic of Korea, with renewed momentum to strengthen cross-border collaboration on digital regulation, online safety and sustainability.

    From artificial intelligence (AI) to online scams and environmental impact, the meeting focused on the critical balance between enabling innovation and safeguarding users, particularly vulnerable groups such as women, youth, as well as small businesses.

    “There is growing recognition that growth in the digital economy must go hand in hand with trust, inclusion and responsibility,” said Ichwan Makmur Nasution, Chair of the Digital Economy Steering Group (DESG). “The solutions we’re exploring are not only about technology. They’re about protecting people, building resilience and ensuring no one is left behind.”

    Throughout the meeting, delegates grappled with how to align digital regulations across borders without stifling innovation. Conversations around data privacy, cybersecurity and AI governance reflected the diversity of legal systems and policy approaches in the region, while underscoring a shared urgency to create interoperable, forward-looking digital frameworks.

    One of the central policy dialogues examined how economies can better manage harmful online content, misinformation and abuse. These issues threaten not only individual safety but also social trust and economic participation. The discussion highlighted the disproportionate impact of online harms on women and youth, urging greater investment in digital literacy, user protection and responsible platform governance.

    As part of its forward agenda, the group examined the environmental footprint of AI and digital infrastructure. From growing energy demands to electronic waste, members explored how policy and innovation can work together to reduce the sector’s impact while supporting continued digital growth.

    Ongoing and proposed APEC-funded projects covered a wide range of priorities, from AI policy cooperation and Privacy Enhancing Technologies (PETs) to micro, small and medium enterprises’ access to digital trade.

    “This meeting reinforced the strategic value of DESG as a platform for shared learning and joint action,” said Nasution. “It’s not just about exchanging views. It’s about building alignment where possible and respecting diversity where needed, so that our cooperation continues to deliver real value to people across the APEC region.”

    Held under the APEC 2025 theme “Building a Sustainable Tomorrow,” the DESG meeting was part of the broader Third Senior Officials’ Meeting (SOM3) hosted by Korea. During this meeting cluster, there will be over 30 events related to digital innovation, including at the upcoming APEC Digital Ministerial Meeting and the Global Digital and AI Forum to be held on 4-5 August.

    For further information or media inquiries, please contact:

    [email protected]

    MIL OSI Global Banks –

  • MIL-OSI Europe: Sweden increases support for heating and electricity supply in Ukraine by SEK 500 million

    Source: Government of Sweden

    The Government has approved an additional SEK 500 million in support for heating and electricity supply in Ukraine. According to World Bank calculations, the support could help generate electricity for 185 000 people, making this Sweden’s largest contribution yet to Ukrainian energy supply. 

    MIL OSI Europe News –

  • MIL-OSI Banking: Burkina Faso: African Development Bank supports youth entrepreneurship in rural areas

    Source: African Development Bank Group
    The African Development Bank and the Government of Burkina Faso launched the third phase of the incubator program of the Support Project for Youth Employment and Skills Development in Rural Areas (PADEJ-MR in the French acronym) on July 15, 2025, in Ouagadougou, the capital of Burkina Faso

    MIL OSI Global Banks –