NewzIntel.com

Category: Banking

  • MIL-OSI Economics: Philip R. Lane: Monetary policy: new challenges

    Source: European Central Bank

    Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Barclays-CEPR Monetary Policy Forum 2025

    London, 24 June 2025

    Since the extraordinary inflation surges in 2021-2022, the primary challenge facing monetary policy has been to return inflation to target in a timely manner.[1] In terms of interest rate policy, this required a rapid hiking cycle from July 2022 to September 2023, followed by a “hold at peak” phase and then a gradual reversal of the restrictive stance starting in June 2024.[2] The gradualism in the easing phase reflected ongoing uncertainty about the speed of the disinflation process.

    While headline inflation is currently around the target, services inflation still has some distance to travel to make sure that inflation stabilises at the target on a sustainable basis. Still, there has been sufficient progress in returning inflation to target to consider that this monetary policy challenge is largely completed. This assessment is reinforced by the accumulating evidence that the remaining services disinflation is well on track: first, the projection errors for inflation, including for the services subcomponent, have been relatively small during the disinflation process; second, both the wage tracker data and survey indicators suggest that further deceleration in wage growth can be expected in both 2025 and 2026, facilitating further declines in services inflation.

    However, this disinflation challenge has been superseded by a new set of challenges and monetary policymakers have to make sure that the medium-term inflation target is protected in a volatile environment in which, amongst other factors, there is high uncertainty about the future of long-standing international trade system.[3] This uncertainty extends beyond the calibration of new tariff regimes and includes the possibility of a broader set of non-tariff barriers, a deeper intertwining of economic policies and security policies and possible revisions to the treatment of foreign portfolio investors and foreign direct investors. In addition to policy uncertainty, geopolitical tensions, such as Russia’s unjustified war against Ukraine and the tragic conflict in the Middle East, remain a major source of uncertainty. Reflecting these developments, we have seen high volatility in energy prices this year and substantial currency repricing. There has also been considerable financial market volatility.

    At the same time (and largely as an endogenous reaction to the changed security landscape), the fiscal outlook for the euro area has materially changed for the coming years, with the overall fiscal deficit looking set to remain above three per cent over the projection horizon. The near-term and medium-term implications for output and inflation of the structural changes associated with the green transition, the increasing business adoption of artificial intelligence applications and global shifts in comparative advantage are also highly uncertain, operating both on demand and supply with potentially different timelines.

    Especially under current conditions of high uncertainty, it is essential to remain data dependent and take a meeting-by-meeting approach in making monetary policy decisions, with no pre-commitment to any particular future rate path. In addition to observing how activity and inflation are actually behaving, data dependence also extends to the incoming data on policy settings outside the monetary domain, since shifts in international and domestic policy regimes are highly relevant for future inflation dynamics. In this environment, the primary task for monetary policy makers is to make sure that any temporary deviations from target do not turn into longer-term deviations.

    This orientation explains our June decision to cut rates by 25 basis points. The June projections were conditioned on a rate path that included a quarter-point reduction of the deposit facility rate (DFR) in June: model-based optimal policy simulations and an array of monetary policy feedback rules indicated a cut was appropriate under the baseline and also constituted a robust decision, remaining appropriate across a range of alternative future paths for inflation and the economy. By supporting the pricing pressure needed to generate target-consistent inflation in the medium-term, this cut helps ensure that the projected negative inflation deviation over the next eighteen months remains temporary and does not convert into a longer-term deviation of inflation from the target. This cut also guards against any uncertainty about our reaction function by demonstrating that we are determined to make sure that inflation returns to target in the medium term. This helps to underpin inflation expectations and avoid an unwarranted tightening in financial conditions.

    It is worth noting, in particular, that the robustness of the decision was also supported by a set of model-based optimal policy simulations conducted on various combinations of the trade scenarios discussed in the Eurosystem staff projections report, even when also factoring in upside scenarios for fiscal expenditure. By contrast, leaving the DFR on hold at 2.25 per cent could have triggered an adverse repricing of the forward curve and a revision in inflation expectations that would risk generating a more pronounced and longer-lasting undershoot of the inflation target. In turn, if this risk materialised, a stronger monetary reaction would ultimately be required.

    Looking ahead, our monetary policy will have to take into account not only the most likely path (the baseline) but also the risks to activity and inflation. To this end, it will be important to explore how alternative rate paths hold up in various plausible sensitivity and scenario analyses, in order to make sure we minimise the risk of extended deviations from our medium-term target.

    MIL OSI Economics –

  • MIL-OSI Europe: Spain: EIB and Andalusia regional government sign €133 million loan to finance projects in education, healthcare, labour inclusion, the energy transition, sustainable transport and digitalisation in Andalusia

    Source: European Investment Bank

    EIB

    • The loan will co-finance projects included in the 2021-2027 plan of the European Regional Development Fund (ERDF) and other EU funds.
    • The EIB loan will enable the Andalusia regional government to co-finance projects in various provinces of the region, from healthcare and education infrastructure improvement to sustainable urban transport and digitalisation.
    • The agreement highlights efforts to promote economic, social and territorial cohesion, one of the EIB Group’s cross-cutting strategic priorities.

    The European Investment Bank (EIB) has signed a €133 million loan with the Andalusia regional government (the Junta de Andalucía) to co-finance social, green and digital investment in the Spanish region. The EIB loan and co-financing from the Junta de Andalucía will make it possible to back projects contributing to the dual green and digital transition, social infrastructure development, jobs and training, and cohesion in Andalusia.

    The loan is part of the EU operational programme for cohesion policy funding 2021-2027, particularly the European Regional Development Fund (ERDF), European Social Fund Plus (ESF+) and the Just Transition Fund.

    The loan will co-finance projects in various provinces of the autonomous community, including the renovation and improvement of infrastructure like hospitals, health centres, music conservatories or primary and secondary schools where climate change adaptation works will also be undertaken; job incentives, training and labour inclusion; support for research, development and innovation in universities; and digitalisation, sustainable urban mobility and energy transition projects.

    The agreement highlights the commitment of the European Investment Bank Group (EIB Group) to economic, social and territorial cohesion, which is one of the cross-cutting priorities set out in the Group’s strategic roadmap for 2024-2027. All the projects will be implemented in Andalusia, which is considered to be a cohesion region by the European Union.

    This is the third loan signed by the Junta de Andalucía and the EIB under the 2021-2027 plan of the European Regional Development Fund, with the first €195 million loan being signed in December 2022, and the second €215 million loan signed in April 2024.

    Background information

    EIB

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

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

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

    In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024. This financing is contributing to the green and digital transition , economic growth, competitiveness and improved services for citizens in Spain.

    High-quality, up-to-date photos of the EIB Group’s headquarters for media use are available here.

    MIL OSI Europe News –

  • MIL-OSI Europe: Spain: EIB and Andalusia regional government sign €133 million loan to finance projects in education, healthcare, labour inclusion, the energy transition, sustainable transport and digitalisation in Andalusia

    Source: European Investment Bank

    EIB

    • The loan will co-finance projects included in the 2021-2027 plan of the European Regional Development Fund (ERDF) and other EU funds.
    • The EIB loan will enable the Andalusia regional government to co-finance projects in various provinces of the region, from healthcare and education infrastructure improvement to sustainable urban transport and digitalisation.
    • The agreement highlights efforts to promote economic, social and territorial cohesion, one of the EIB Group’s cross-cutting strategic priorities.

    The European Investment Bank (EIB) has signed a €133 million loan with the Andalusia regional government (the Junta de Andalucía) to co-finance social, green and digital investment in the Spanish region. The EIB loan and co-financing from the Junta de Andalucía will make it possible to back projects contributing to the dual green and digital transition, social infrastructure development, jobs and training, and cohesion in Andalusia.

    The loan is part of the EU operational programme for cohesion policy funding 2021-2027, particularly the European Regional Development Fund (ERDF), European Social Fund Plus (ESF+) and the Just Transition Fund.

    The loan will co-finance projects in various provinces of the autonomous community, including the renovation and improvement of infrastructure like hospitals, health centres, music conservatories or primary and secondary schools where climate change adaptation works will also be undertaken; job incentives, training and labour inclusion; support for research, development and innovation in universities; and digitalisation, sustainable urban mobility and energy transition projects.

    The agreement highlights the commitment of the European Investment Bank Group (EIB Group) to economic, social and territorial cohesion, which is one of the cross-cutting priorities set out in the Group’s strategic roadmap for 2024-2027. All the projects will be implemented in Andalusia, which is considered to be a cohesion region by the European Union.

    This is the third loan signed by the Junta de Andalucía and the EIB under the 2021-2027 plan of the European Regional Development Fund, with the first €195 million loan being signed in December 2022, and the second €215 million loan signed in April 2024.

    Background information

    EIB

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

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

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

    In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024. This financing is contributing to the green and digital transition , economic growth, competitiveness and improved services for citizens in Spain.

    High-quality, up-to-date photos of the EIB Group’s headquarters for media use are available here.

    MIL OSI Europe News –

  • MIL-OSI Banking: Meta Quest 3S Xbox Edition headset launches in collaboration with Meta

    Source: Microsoft

    Headline: Meta Quest 3S Xbox Edition headset launches in collaboration with Meta

    Over the past several years, Xbox has expanded the Xbox cloud gaming experience to more places and more players. Since the announcement of the Xbox app on Quest, our goal has been to empower more people to play their favorite games whenever and wherever they want. Today, with the Meta Quest 3S Xbox Edition, we are bringing this vision to life with a new design that celebrates Xbox’s iconic aesthetic.

    MIL OSI Global Banks –

  • MIL-OSI Security: New Hampshire Couple Pleads Guilty to Federal Charges for 2024 Crime Spree

    Source: US FBI

    Burlington, Vermont – A New Hampshire couple pleaded guilty in federal court last week to robbery charges stemming from a crime spree in August of 2024.

    On June 10, 2025, Christopher Boisvert entered a plea of guilty to the charge of armed bank robbery during a plea hearing before Chief United States District Judge Christina Reiss.

    On June 12, 2025, Meghan Cox entered a plea of guilty to the charge of conspiring with her accomplice to interfere with commerce by robbery during a plea hearing before Chief United States District Judge Christina Reiss.

    At sentencing, if the District Court accepts the plea agreements Boisvert and Cox each face up to 20 years’imprisonment. The actual sentence, however, will be determined by the District Court with guidance from the advisory United States Sentencing Guidelines and the statutory sentencing factors. Both defendants are scheduled for sentencing in September of this year.

    According to court records, on August 26, 2024, around 2:06 PM, the Vermont State Police were notified of an attempted robbery at Rolling Twenties, a Cannabis Dispensary located at 440 Rockingham Road in the Town of Rockingham, Vermont. Investigation revealed that in the minutes before the robbery, exterior surveillance video captured a blue Chevrolet Silverado truck parked in front of the business, with its rear license plate obscured by a dark covering.

    Two subjects, a male and a female – later confirmed to be Boisvert and Cox – exited the Silverado truck and approached the business on foot. The male was white, with a medium build, and was wearing a grey long-sleeved “Henley” style shirt, gray sweatpants, brown leather boots, a black ball cap, a black face mask, sunglasses, and was carrying one or two dark colored backpacks or duffel bags.

    The female, also white, with a medium build, red hair, was wearing a black hooded sweatshirt, tight-fitting blue jeans, brown leather boots, wearing a black ball cap, a black face mask, and dark “aviator” style sunglasses. She was also carrying a dark colored bag. Both subjects were wearing blue colored latex gloves. Once inside the business’s lobby, they attempted to enter the retail floor and demanded money and marijuana. An attendant denied entry and both subjects left the business in the blue Silverado truck, traveling south bound on VT Route 5/Rockingham Road towards Bellows Falls, Vermont.

    At approximately 2:47 PM, the Bellows Falls Police Department was called to a bank robbery at the TD Bank, 2 Church Street, Bellows Falls, Vermont. Officers determined the bank robbery suspect fit the description of the male subject from the Rolling Twenties attempted robbery minutes earlier. TD Bank surveillance video showed the male wearing the same clothing and disguise as described in the Rolling Twenties attempted robbery and was carrying a black and gray backpack. The male approached an employee and produced a note indicating he wanted 100s (one-hundred-dollar bills) and other large denominations placed into the bag. The male lifted his shirt revealing what appeared to be a wooden handle/grip of an object tucked into his pants. The teller placed money onto the counter and the male subject retrieved the money, placing it into his backpack. An image of the male, who turned out to be Christopher Boisvert, displaying the weapon in his waist band is below:

    Boisvert told the employees he had done research, and he knew where their families live – if they try anything, he was going to come back and hurt or kill them. He also said he had a gun inside his backpack and that his girlfriend or wife was waiting in the vehicle outside with a “45[.]” As he was leaving, Boisvert told the employees to wait two minutes before calling the police. In total, Boisvert received approximately $2,500 of U.S. Currency from TD Bank.

    About an hour after the Bellows Falls bank robbery, around 3:45 PM, the Brattleboro Police were called to a robbery of the Brattleboro Savings and Loan, located at 972 Putney Road, Brattleboro, Vermont (“Brattleboro Savings and Loan”). Law enforcement investigation revealed a blue Chevrolet Silverado truck with New Hampshire registration plates parked on Black Mountain Road, next to the Putney Road Plaza where the bank is located. Boisvert was wearing the same clothing, hat, mask, footwear, blue gloves, and was carrying a black and gray backpack.

    Inside the bank, he approached a teller and told her to put money into the bag. He stated to the teller that he knew the employee’s families and their addresses, and to give him all the money. He also said he had a gun. The teller observed that he possessed an orange handled knife. Several tellers provided him with U.S. Currency; in total the amount was approximately $5,000. Surveillance video  showed Boisvert return to the blue Silverado truck. Using a cellular phone, a teller captured photographs of the Silverado fleeing the area. The photographs revealed the rear license plate number of the truck. Law enforcement then confirmed the vehicle was registered to Christopher Boisvert of New Hampshire.

    At approximately 4:00 PM, the Cheshire County, New Hampshire Sheriff’s Department located the blue Silverado on Route 9 near the Chesterfield/Keene, New Hampshire town line. Deputies attempted to stop the truck, but it fled, and a pursuit began. Sheriff Deputies and New Hampshire State Police, among other agencies, pursued the truck, ultimately ending the pursuit when the truck entered Massachusetts. The truck was later located abandoned in the parking lot of Athol Memorial Hospital in Athol, Massachusetts.

    Law enforcement examined a social media account associated with Boisvert and Cox, and compared known photos of the defendants to the surveillance footage obtained during the investigation. Investigators saw Boisvert was wearing an identical shirt to the one he wore during the robberies. In addition, Meghan Cox  had a distinctive tattoo on her neck. A close-up review of the surveillance footage from the Rolling Twenties dispensary shows an object covering the tattoo that appeared to be peeling off her neck.

    When they searched the Silverado truck, investigators recovered a 14-inch bowie knife with a wooden handle consistent in appearance with the weapon displayed in the TD Bank surveillance footage, black KN95-style facemasks consistent in appearance with what the defendants were wearing, a small spiral bound notebook containing a handwritten note that matched the same threats articulated to the various robbery victims, a grey “Henley” style shirt, and blue medical gloves. These clothing and disguise items were subsequently tested for DNA that matched Boisvert and Cox.

    Acting United States Attorney Michael P. Drescher commended the investigatory efforts of the Federal Bureau of Investigation, Vermont State Police, Brattleboro Police Department, Bellows Falls Police Department, Keene, New Hampshire Police Department, Swanzey, New Hampshire Police Department, Cheshire County, New Hampshire Sheriff’s Department, New Hampshire State Police, Athol, Massachusetts Police Department, and the Winchendon, Massachusetts Police Department.

    The prosecutor is Assistant United States Attorney Thomas J. Aliberti. Federal Defender Michael Desautels represents Christopher Boisvert and Meghan Cox is represented by Richard C. Bothfeld, Esq.

    This case is part of Operation Take Back America a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    MIL Security OSI –

  • MIL-OSI USA: About one-fifth of global liquefied natural gas trade flows through the Strait of Hormuz

    Source: US Energy Information Administration

    In-brief analysis

    June 24, 2025

    Data source: U.S. Energy Information Administration, World Bank, and Global Energy Monitor, Global Gas Infrastructure Tracker
    Note: LNG=liquefied natural gas, FSRU=floating storage regasification unit

    • In 2024, about 20% of global liquefied natural gas (LNG) trade transited the Strait of Hormuz, primarily from Qatar. The strait is a critical route for oil and petroleum products as well.
    • Qatar exported about 9.3 billion cubic feet per day (Bcf/d) of LNG through the Strait of Hormuz in 2024, and the United Arab Emirates (UAE) exported about 0.7 Bcf/d, accounting for nearly all LNG flows from the Persian Gulf through Hormuz.
    • We estimate that 83% of the LNG that moved through the Strait of Hormuz in 2024 went from Persian Gulf countries to Asian markets. China, India, and South Korea were the top destinations for LNG moving through the Strait of Hormuz, accounting for 52% of all Hormuz LNG flows in 2024. In 2024, disruptions to LNG flows through the Bab al-Mandeb Strait, which connects the Red Sea to the Gulf of Aden and Arabian Sea, and more U.S. LNG exports to Europe pushed LNG exports from Qatar away from Europe to Asia.
    • Kuwait and the UAE imported LNG that originated outside of the Persian Gulf, including from the United States and West Africa. Bahrain began operating an LNG import terminal in April 2025 and also received cargoes that transited Hormuz from outside of the Persian Gulf, including recent cargoes in April and June that originated from the United States.
    Data source: U.S. Energy Information Administration analysis based on Vortexa tanker tracking data
    Note: 1Q25=first quarter of 2025. figure data

    Principal contributors: Candace Dunn, Justine Barden

    MIL OSI USA News –

  • MIL-OSI USA: Beyer Statement On Fifth Straight Increase In Virginia’s Unemployment Rate

    Source: United States House of Representatives – Representative Don Beyer (D-VA)

    Congressman Don Beyer (D-VA), who serves as the top House Democrat on the Congressional Joint Economic Committee, today expressed rising concern over Virginia’s economy, after monthly data from the Bureau of Labor Statistics (BLS) showed that the Commonwealth’s unemployment rate had risen for the fifth consecutive month. The increase brought Virginia’s unemployment rate to 3.4 percent, its highest level since August 2021. Today’s data marks the first time that Virginia’s unemployment rate has risen for five consecutive months since the sustained job losses of the Great Recession in 2008-09.

    Beyer said:

    “The sustained increase in Virginia’s unemployment rate is a growing concern, especially amid the uncertainty created by President Trump and Elon Musk’s indiscriminate and ill-conceived mass firings of federal workers and contractors.

    “Governor Youngkin inherited a strong economy that was rebounding from the pandemic downturn with strong growth and job gains, and a 2.7 percent unemployment rate that was the envy of much of the nation. To be clear, our Commonwealth is still a great place to do business, with job gains still coming and unemployment below the national average. But today’s data shows we are now clearly moving in the wrong direction: under current leadership, the unemployment rate has risen for five straight months for the first time since the Great Recession, and reached its highest level since Governor Youngkin took office.

    “These gathering economic storm clouds are unfortunate but not surprising for anyone who reads the news. Sustained damage to Virginia’s economy – including this Administration’s mass firings of workers, terminations of key contracts, freezes of medical research funding, and attacks on our educational and research institutions – is bound to have an impact. Unless courts intervene, some of the largest firings and cuts will take effect in months to come, which would worsen the damage for Virginians. Unfortunately, our Governor and his allies have not only failed to defend our Commonwealth from these hits to our economy, they have cheered them on. Putting politics and party loyalty over Virginians and our economic security is a failure of leadership.”

    Historical economic data, including unemployment rates for states including Virginia, is tracked by the Federal Reserve Bank of St. Louis (FRED).

    Rep. Don Beyer (D-VA) is the Senior House Democrat on Congress’ Joint Economic Committee, and serves on the House Committee on Ways and Means, which has jurisdiction over major economic levers include tax policy, trade, and Social Security. He previously served as Virginia’s Lieutenant Governor from 1990-1998.

    MIL OSI USA News –

  • MIL-OSI Banking: Stay secure with Windows 11, Copilot+ PCs and Windows 365 before support ends for Windows 10

    Source: Microsoft

    Headline: Stay secure with Windows 11, Copilot+ PCs and Windows 365 before support ends for Windows 10

    When we launched Windows in 1985, we set out to revolutionize computing—guided by the belief that technology should be accessible, intuitive and powerful for everyone. Nearly 40 years later, that same vision continues to drive us forward. Today, Windows is the most widely used operating system, powering over a billion monthly active devices through an open and flexible platform that connects people, ideas and innovations on the Windows PCs they use every day around the world.

    Looking ahead, 2025 marks an important milestone for Windows. We saw the spirit of innovation on full display at CES in January, as the Windows ecosystem came together to unveil breakthrough technologies and introduce new Windows 11 and Copilot+ PCs. And that momentum is only growing, as new silicon technology, thoughtful hardware designs and on-device AI experiences give people more of a reason to upgrade their Windows PC. With AI becoming a more natural and helpful part of everyday life, 2025 continues to emerge as the year of the Windows 11 PC refresh.

    From enhanced productivity and streamlined IT workflows to AI-driven innovation, these advancements are redefining what people expect from their devices—not just for today, but for the future. Whether you’re using a Copilot+ PC or Windows 365 in the cloud, we want you to experience the best of Windows 11, starting with security at the core. We also recognize that transitions to new PCs take careful planning. With Windows 10 support coming to an end in October, we’re here to provide information and resources to help you choose the path that works best for you—whether that’s exploring the next generation of Windows, staying on your current PC with the Extended Security Program (ESU) or moving to a cloud-based solution.

    Support for Windows 10 ends in October—Here’s what you need to know

    As technology evolves, phasing out older operating systems and upgrading to newer versions is a natural part of the lifecycle—one that helps ensure you have the latest security features and innovations. Windows 10 launched in July 2015, and after nearly a decade, support will end on Oct. 14, 2025.

    Here’s what that means:

    • Microsoft will no longer provide security and feature updates and technical support for Windows 10 PCs. While these devices will continue to function, they will no longer receive regular security updates, making them more vulnerable to cyber threats, such as malware and viruses.
    • Companies and organizations that operate Windows 10 may find it challenging to maintain regulatory compliance with unsupported software.
    • Applications running on Windows 10 may no longer be supported, as the platform is no longer receiving feature updates. As a result, some apps may experience decreased functionality.
    • Microsoft 365 Appsi running on personal and commercial Windows 10 PCs will continue receiving security updates until Oct. 10, 2028, and feature updates through August 2026.ii These updates are intended to help ease customers’ transition to Windows 11 and will be delivered through standard update channels. These updates do not include technical support.
    • Microsoft will continue to provide Security Intelligence Updates for Microsoft Defender Antivirus on Windows 10 through October 2028.

    If you’re using Windows 10 today, checking if your PC can upgrade to Windows 11 is simple. Just click the Start button, then go to Settings > Update & Security > Windows Update. You can also use the PC Health Check app to see if your device meets the Windows 11 system requirements, or check with your organization’s IT team for support.

    We understand that your PC holds what’s important to you, from years of valuable files to cherished photos, and the personal settings that make it yours. To help make your move to a Windows 11 PC as simple and secure as possible, we recommend using Windows Backup—built right into Windows 10. It’s an easy way to help you safely and securely transfer your data, personal files, and most settings and applications, so everything’s ready for you the moment you sign in.

    Explore what’s next with Windows 11

    Security is at the heart of Windows 11. As part of Microsoft’s Secure Future Initiative (SFI), we’re constantly improving Windows security to help keep you protected—whether you’re using a personal laptop or managing a fleet of devices at work. Windows 11 is secure by design and by default, with layers of defense enabled on day one to enhance your protection without the need to first configure settings.

    Windows 11 builds on the familiar Windows experience you know and trust, while also offering a more modern and secure computing experience. It delivers faster performance, simpler navigation and the latest features and experiences. It’s not just a device designed for today, it’s built for tomorrow.

    • Security first. Windows 11 is the most secure operating system we’ve ever built, and offers advanced security like TPM 2.0, virtualization-based security and Smart App Control—all enabled by default. New Windows 11 PCs have seen a reported 62% drop in security incidents and a 3x reported reduction in firmware attacksiii.
    • Faster and more efficient. Windows 11 continues to improve Windows update fundamentals, delivering faster monthly updates and smaller feature update downloads. This results in quicker response time when in sleep mode, faster web browsing and overall improved performance. In fact, Windows 11 PCs are up to 2.3x faster than Windows 10 PCsiv.
    • Familiar yet modern user experience. Windows 11 maintains familiar user experiences from Windows 10 but introduces a more modern and streamlined UI design with better multitasking features, like Snap Layouts and multiple desktops. Key elements like the Start menu and taskbar offer a cleaner look on Windows 11, while keeping navigation intuitive and user-friendly.
    • Built-in accessibility features. Windows 11 has new and improved accessibility features, building on the tools from Windows 10. New to Windows 11, Focus Sessions help users needing fewer distractions stay focused, live captions can transcribe audio from any app or in-person conversations through the mic, and Voice Access lets you control your device and dictate text using your voice—compared to basic speech recognition on Windows 10. Windows 11 also has improved contrast themes, better screen magnification and more natural Narrator voices.
    • Copilot on Windows 11. As Copilot becomes more optimized for Windows, it stands out as your go-to AI companion—ready when you need it. With Copilot Vision on Windowsv, Copilot acts as a second set of eyes, analyzing content on your screen in real time, and talking to you about it. And with the new Highlights feature, Copilot doesn’t just tell you what to do, it can show you.
    • Exclusive AI experiences at your fingertips. Windows 11 Copilot+ PCs unlock exclusive AI-powered experiences. Features such as Recall (preview), Click to Do (preview) and improved Windows search, help you be more efficient and find information effortlessly, while enhanced experiences such as Cocreator in Paint and Restyle in Photos help you tap into new creative possibilities with built-in securityvi.
    • Designed for any work environment and every employee. Windows 11 offers features that enhance multitasking and enable an estimated 50% faster workflows compared to Windows 10. Employees benefit from AI at their fingertips, faster performance and security enabled by default – with an estimated 250% return on investmentvii.
    • More choice, more flexibility, more performance. Whether for personal use, frontline workers or everyone in between, an extensive portfolio of Windows 11 and Copilot+ PCs from partners—like Acer, ASUS, Dell, HP, Lenovo, Samsung and Surface—is designed to fit your needs.

    Windows 10 Extended Security Updates: A bridge to your Windows 11 experience 

    We understand that moving to a new PC can take time, and we’re here to support you every step of the way. The Windows 10 Extended Security Updates (ESU) program is designed to help keep your Windows 10 PC protected after support ends on Oct. 14, 2025. ESU delivers monthly critical and important security updates to help you stay secure during the transition. However, it’s not meant to be a long-term solution—it doesn’t include new features, non-security updates, design change requests or technical support.

    As we shared last October, for the first time ever, you can enroll your personal Windows 10 PC in the ESU program and receive critical and important monthly security updates for one year after support ends in October. Today, we’re introducing additional free enrollment options and the simple steps to get started.

    Extended Security Updates for Windows 10:

    • For individuals: An enrollment wizard will be available through notifications and in Settings, making it easy to enroll in ESU directly from your personal Windows 10 PC. Through the enrollment wizard, you’ll be able to choose from three options:
      • Use Windows Backup to sync your settings to the cloud—at no additional cost..
      • Redeem 1,000 Microsoft Rewards points—at no additional cost..
      • Pay $30 USD (local pricing may vary).

    Once you select an option and follow the on-screen steps, your PC will automatically be enrolled. ESU coverage for personal devices runs from Oct. 15, 2025, through Oct. 13, 2026. Starting today, the enrollment wizard is available in the Windows Insider Program and will begin rolling out as an option to Windows 10 customers in July, with broad availability expected by mid-Augustxiii.

    • For commercial organizations: Organizations can subscribe to ESU for $61 USD per device to receive monthly critical and important security updates for one year. The subscription can be renewed annually for up to three years, with the cost increasing each yearix. Enrollment is available today through the Microsoft Volume Licensing Program and will be offered by Cloud Service Providers starting Sept. 1.
    • For cloud and virtual environments: Windows 10 devices accessing Windows 11 Cloud PCs through Windows 365 or Virtual Machines are entitled to ESU at no additional cost and will automatically receive security updates with no extra steps required.

    Learn more here: Extended Security Updates (ESU) program for Windows 10 | Microsoft Learn.

    Move to Windows 11 in the cloud with Windows 365

    Windows 365 gives organizations another way to move to Windows 11 without needing to replace every device right away. It’s a cost-effective and more sustainable alternative, while still providing enhanced security and operational efficiency. This cloud-based solution delivers a secure Windows 11 experience to any device through a Cloud PC, so your team can work from almost anywhere.

    To help make the transition easier, new customers can get 20% off on any Windows 365 plan for the first 12 months. Visit Windows 365 today to learn about this offerx.

    Windows ecosystem: A choice for everyone

    Every person and organization has different needs, whether that’s a portable device to stay connected on the go or a more powerful PC built for productivity and different workloads. Working closely with our trusted partners, there are a range of choices to support how you live, work and create.

    Here are a few Copilot+ PCs and Windows 11 devices from trusted partners like Acer, ASUS, Dell, HP, Lenovo, Samsung and Surface—with options designed for mobility, performance, security and AI-powered experiences.

    • Acer: Stay connected everywhere with the TravelMate P6 14 AI, a Copilot+ PC and high-performance business laptop built for mobile work and life.
    • ASUS: The ASUS Zenbook A14 Copilot+ PC delivers exclusive AI experiences and multi-working-day battery life in a sleek, minimalist design, while the ASUS ExpertBook P5 is an AI powerhouse in an aluminum body and sleek design for modern and mobile professionals.
    • Dell: Unleash your creativity with the Dell 16 Plus Laptop, featuring a large screen and Intel Arc graphics—ideal for students and creators. Or tackle work from anywhere on the Dell Pro 14 Premium, the lightest and quietest 14″ Copilot+ PC in the Dell Pro family.
    • HP: The HP OmniBook X Flip 16 inch 2-in-1 Laptop combines speed and performance for creative work and entertainment, while the HP EliteBook 8 G1i 14 inch delivers enterprise-grade security, AI-powered experiences and a portable design—perfect for IT professionals.
    • Lenovo: Create without limits with the super thin and light Yoga Slim 7i Aura Edition, offering exclusive Copilot+ PC experiences, or boost productivity with Lenovo’s new portfolio of 14ʺ and 15ʺ ThinkPad X9 Series laptops, designed for the tech-savvy professionals.
    • Samsung: The Galaxy Book5 Pro, a Copilot+ PC, is a powerful Windows 11 laptop built for multitasking, creative work and running your favorite apps—perfect for work and play. The Galaxy Book4 Edge is an ultra-thin, Copilot+ PC made for life on the go, with a brilliant display and long-lasting battery.
    • Surface Copilot+ PCs combine powerful performance, all-day battery life and breakthrough AI experiences in sleek designs with the all-new 13-inch Surface Laptop and the 12-inch Surface Pro with a flexible 2-in-1 design and a built-in kickstand. For organizations, Surface for Business Copilot+ PCs offer added efficiency with the latest Intel Core Ultra processors (Series 2).

    This summer is a good time to explore your options. Retailers like Microsoft Store, Amazon, Best Buy, Costco and more are offering deals now through September.

    When you’re ready to purchase, trade-in and recycling programs are available through our many trusted partners, including Acer, ASUS, Dell, HP, Lenovo, Samsung and global retailers like Best Buy, Boulanger, Costco, Currys, Elkjøp, Fnac, Harvey Norman, JB Hi-Fi, MediaMarkt & SATURN, officeworks, Sharaf DG and Walmart.

    For business customers, similar programs are offered through resellers like Bechtle, CDW, ComputaCenter, Connection, SHI and more. You can also explore Microsoft Store’s online trade-in program or find a convenient local recycling option near you.

    Moving forward to Windows 11—Together 

    Windows is a part of your everyday life, and we want to help keep that experience smooth, secure and up to date.

    If you’re unsure where to start, the first step is to check if your Windows 10 PC is eligible for a free upgrade to Windows 11. If it is, you can follow a few simple steps to install the upgrade—don’t forget to use Windows Backup to easily save your files and settings before making the switch.

    If your PC isn’t eligible or if you need more time—there are options. No matter where you are in your journey—whether it’s staying on your current PC with ESU, upgrading to Windows 11 or moving to Windows 365—we’re here to support you every step of the way.

    Learn more about how to get ahead of Windows 10 end of support and take the next steps: How to prepare for Windows 10 end of support by moving to Windows 11 today | Windows Experience Blog

    Endnotes

    i This includes Microsoft 365 Apps for enterprise, Microsoft 365 Apps for business, and the Microsoft 365 desktop apps included in other commercial and consumer suites such as Microsoft 365 E3, Microsoft 365 Business Standard, and Microsoft 365 Family.

     ii The final feature update will ship in August 2026 for customers on Current Channel, including all consumer customers. Customers on the Monthly and Semi-Annual Enterprise Channels will receive their final feature updates later – in October 2026 and January 2027, respectively. 

    iii Windows 11 Survey Report. Techaisle LLC, September 2024. Commissioned by Microsoft. Windows 11 results are in comparison with Windows 10 devices.

    iv Based on Geekbench 6 Multi-Core benchmark. See aka.ms/w11claims. 

    v Available in the US and coming to more non-European countries soon. 

    vi Copilot+ PC experiences vary by device and market and may require updates continuing to roll out through 2025; timing varies. See aka.ms/copilotpluspcs  

    vii Microsoft-commissioned study delivered by Forrester Consulting: “The Total Economic Impact of Windows 11 Pro Devices”, December 2022. Note, quantified benefits reflect results over three years combined into a single composite organization that generates $1 billion in annual revenue, has 2,000 employees, refreshes hardware on a four-year cycle and migrates the entirety of its workforce to Windows 11 devices. 

    viii Retail availability starts with the July 2025 non-security preview update via controlled feature rollout. To be among the first to experience new features, navigate to Settings > Windows Update, and turn on “Get the latest updates as soon as they’re available”.  

    ix Markets do not include Russia, Belarus, Cuba, Iran, Democratic People’s Republic of Korea, Sudan, and Syria. 

    x This offer runs from May 1 to Oct. 31, 2025, and is for customers not currently subscribing to Windows 365. Transactions must be processed through Microsoft’s operations center before 11:00 PM Pacific Time on October 31, 2025. This offer is non-transferable and cannot be combined with any other offer or discount on Windows 365. This offer is available only once per customer. The discount price will be in effect for the duration of the purchase commitment. Purchases made prior to the effective date of the offer are not eligible. Taxes, if any, are the sole responsibility of the recipient. Microsoft reserves the right to discontinue this promotion, and to modify these policies and the promotion’s terms and conditions at any time.  

    MIL OSI Global Banks –

  • MIL-OSI: Morris Bank Recognized on Forbes List of Best Banks in Each State

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ga., June 24, 2025 (GLOBE NEWSWIRE) — Morris Bank (Nasdaq: MBLU) has been recognized on the list of Best-In-State Banks 2025 by Forbes and Statista Inc. The ranking recognizes the top-rated banks in each state when surveying approximately 26,000 U.S. consumers.

    “Morris Bank takes pride in the quality of service we provide to our customers, and maintaining these priorities has positioned us to be recognized in this very humbling way,” says Spence Mullis, Chairman and CEO of Morris Bank. The listing of Best-In-State Banks by Forbes aims to showcase top-performing banks by state based on guidance and transparency in the banking market while meeting the needs of consumers. “To be ranked as the only community bank in Georgia is something our team is very proud of.”

    Respondents to the market research firm, Statista, were asked how satisfied they were and how likely they were to recommend having a checking or savings account at their financial institution. Participants were also asked to rank their financial institution on factors like trust, customer service, digital tools, quality of financial advice, and the transparency of fees. These results, coupled with the more than 500,000 publicly available text reviews and ratings for each bank between February 2022 and March 2025, produced the list of top banks published by Forbes.

    About Morris Bank – Morris Bank is a community bank rooted in Middle and South Georgia with branches in Laurens, Jones, Houston, and Bulloch Counties. In an ever-changing banking environment, Morris Bank still takes a common-sense approach and leverages practical financial solutions. Decisions have been made locally since 1954, and the Morris Bank team is ready to make banking easy for you. To learn what it means to Bank Blue or to find out more about our Code Blue philosophy, visit www.morris.bank. Member FDIC. Equal Housing Lender. Morris Bank NMLS 486851.

    The MIL Network –

  • MIL-OSI USA: Lummis, Scott Release Principles for Market Structure Legislation 

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    Washington, D.C.— U.S. Senator Cynthia Lummis (R-WY) joined Senate Banking Chairman Tim Scott (R-SC) in releasing principles to guide the Committee’s consideration of market structure legislation.

    “America desperately needs digital asset legislation that promotes responsible innovation and protects consumers,” said Lummis. “While the European Union and Singapore have established clear regulations, the U.S. continues to sit on the sidelines while the digital asset industry seeks greener pastures. That changes today. I am partnering with Chairman Scott to provide principles for market structure legislation to finally draw the line between a security and a commodity and ensure the U.S. remains at the helm of global financial advancement.” 

    “Since taking over as Chairman, I’ve led a new approach to digital assets regulation, and we’ve delivered results for the industry and the American people,” said Scott.  “We have more work to do, and I look forward to building on the success of the GENIUS Act and advancing market structure legislation here in the Senate. These principles will serve as an important baseline for negotiations on this bill, and I’m hopeful my colleagues will put politics aside and provide long-overdue clarity for digital asset regulation.”

    The market structure principles state:

    Legislation Should Clearly Define the Legal Status of Digital Assets

    • A clear, economically rational line distinguishing digital asset securities from digital asset commodities should be fixed in statute, contemplating existing law and providing predictability, enhanced legal precision, and much-needed regulatory certainty.

    Jurisdiction Should Be Clearly Allocated Among Regulators

    • The authority of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) should be clearly allocated in statute, preventing either from emerging as an all-encompassing regulator.
      • The SEC’s authority should extend to, for example, initial fundraising transactions, disclosures and transactions in tokenized securities; and
      • The CFTC should be granted new spot authority focused on market conduct, which should not extend to digital assets that are securities.
    • Legislation should acknowledge that not all distributed ledger technology should be regulated by the SEC and CFTC.
      • Legislation should recognize the different risks and benefits between centralized firms, decentralized finance protocols, and non-custodial software platforms.
      • For similar reasons, self-custody of digital assets should be explicitly preserved.
      • Likewise, the use of distributed ledger technology and smart contracts for other, non-financial purposes, such as to manage health data, should fall outside the jurisdiction of the SEC and CFTC.

    SEC and CFTC Regulation Should be Modernized to Foster Innovation

    • Federal securities and commodities laws should be modernized to account for the unique nature of digital assets and distributed ledger technology.
      • A new SEC exemption for certain digital asset fundraising should be included in legislation.
      • The SEC should revisit its burdensome registration requirements for digital asset issuers, and instead provide a clear, appropriately tailored pathway to compliance for good faith, innovative actors.
      • Clear, pro-innovation principles regarding the trading of digital assets on the secondary market should be established.
        • These principles should consider whether digital asset securities may be traded alongside digital asset commodities, and whether traditional securities or commodities should be traded alongside digital asset securities or commodities, respectively.
    • Legislation, as well as SEC and CFTC rules, should not apply principles designed for centralized firms to decentralized protocols.
      • Tokenization should be recognized as an evolution of financial infrastructure that enhances efficiency, transparency, and liquidity, rather than a fundamental change to the nature of the underlying asset.

    Regulation Should Protect Those Who Purchase or Trade Digital Assets

    • Centralized digital asset intermediaries should be subject to innovation-friendly registration and risk management requirements similar to that of other centralized intermediaries today.
      • Requirements could include illicit finance compliance, clear and right-sized capital, custody and segregation requirements, and appropriate enforcement authority.
    • Legislation should also ensure that customer funds are protected during bankruptcy.

    Illicit Finance Measures Should Be Targeted and Pro-Innovation

    • A small, common-sense package of measures directed at preventing money laundering and sanctions evasion with digital assets should be included.
    • Potential provisions can and should be targeted and pro-innovation. This could include requiring the adoption of examination standards and clarifying that the Bank Secrecy Act and International Emergency Economic Powers Act (IEEPA) extends to entities abroad with U.S. touchpoints.
    • Reforms should also consider the ways digital assets and distributed ledger technology can improve transparency, efficiency, and the detection of illicit activity, including money laundering.

    Federal Financial Regulators Should Welcome Responsible Innovation

    • Federal financial regulators should take common-sense steps to respond to responsible innovation, including potentially through increased use of no-action guidance, sandboxes, safe harbors, coordination, and appropriate application requirements.
    • Federal financial regulators should provide clear guidance affirming that many crypto-related activities are permissible for banks and other financial institutions, provided they do not threaten the safety and soundness of the institution.
    • Clear guidance will also improve and better enforcement by establishing well-defined rules and expectations, fostering accountability, and enabling consistent application of regulations, leading to better understanding and compliance.

    For complete market structure principles, click here. 

    MIL OSI USA News –

  • MIL-OSI Global: Turkey is stepping up its influence in west Africa – what’s behind its bid for soft power

    Source: The Conversation – Africa – By Issouf Binaté, enseignant-chercheur, Université Alassane Ouattara de Bouaké

    Turkey is stepping up its influence in west Africa as the geopolitical and economic landscape in the region shifts. In Senegal, the state-owned Turkish Petroleum Corporation has entered a key partnership in the oil and gas sector. Meanwhile, Karpowership, a company providing electricity via floating power plants, now supplies energy to eight African countries. But Turkey’s not stopping there. As part of its soft power strategy, it is also winning hearts and minds through education and culture while deepening trade and security ties.

    Historian Issouf Binaté, who has studied Turkey’s growing presence in west Africa, breaks down how Ankara is positioning itself as an alternative to both former colonial powers and newer global players competing for influence on the continent.

    What drives Turkey’s growing influence in west Africa?

    Turkey’s foreign policy in west Africa leans on two main pillars.

    One is institutional power, driven by state-backed agencies (embassies, the religious affairs directorate Diyanet, and the economic cooperation agency (TIKA) .

    The other is more grassroots, led by non-state actors such as religious foundations and NGOs.

    These groups laid the groundwork for Turkey’s African expansion long before Ankara officially stepped in.

    A key player in Turkey’s earlier outreach was the Gülen movement, named after preacher Fethullah Gülen (1941–2024). The Gülen movement pioneered Turkey’s soft power approach with “Turkish schools”, starting with the Yavuz Sultan Selim and Yavuz Selim-Bosphore high schools in Dakar in 1997.

    Also at the end of the 1990s a network composed of Turkish business leaders and social activists under the Turkish Confederation of Businessmen and Industrialists, which claimed over 100,000 member companies, expanded Turkey’s influence across Africa. At that time, Turkey had only three diplomatic representations for the whole of sub-Saharan Africa.

    The more recent contact with Africa comes at a time when western hegemony faces growing criticism from a new generation of Africans engaged in decolonial movements. Gülen-affiliated institutions now number 113, alongside religious and secular schools run by other groups like Mahmud Hudayi Vakfi and Hayrat Vakfi. Since the 2016 political rift between Gülen and President Recep Tayyip Erdoğan, these schools were gradually transferred to Maarif Foundation, Turkey’s state-run overseas education arm.

    Back in 2003, Turkey had only 12 diplomatic missions across Africa. Today, that number has grown to 44, bolstered by Turkish religious foundations (like Mahmud Hudayi Vakfi and Hayrat Vakfi), NGOs, and entrepreneurs who have filled the gap left by the Gülen movement.

    Another powerful player in Turkey’s Africa strategy is Turkish Airlines, now one of the top carriers on the continent. It is now flying to 62 airports in 41 African countries.

    What role do west African students trained in Turkey play?

    By investing in education, Turkey didn’t just open its doors to African students. It also planted the seeds for a long-term influence strategy. These students, and more broadly young African migrants trained in Turkey, are now among the key messengers of “Turkishness” back home.

    In doing so, Ankara is following a familiar path once used by colonial powers. They used student mobility as a powerful tool for their diplomacy.

    This policy of openness took several forms. As early as 1960, it welcomed students from non-self-governing territories in accordance with UN General Assembly resolutions.

    Then, in the 1990s, Turkey continued this effort through a scholarship programme for African students, supported by the Islamic Development Bank. During this period, Turkey launched the Büyük Öğrenci Projesi (Great Student Project), which provided scholarships to international students.

    Starting in 2012, this programme was re-branded as YTB (Yurtdışı Türkler ve Akraba Topluluklar Başkanlığı, or Directorate for Turks Abroad and Related Communities). It introduced reforms, including a digital application process for scholarships via an app on the YTB website. This shift caused a dramatic spike in interest. Applications soared from 10,000 to 155,000 between 2012 and 2020.

    For non-scholarship students, Turkey simplified visa processes, reduced tuition fees, and offered other incentives. These measures contributed to a significant increase in the number of applicants to study in Turkey. As the number of universities in Turkey jumped from 76 to 193 between 2003 and 2015, the country became increasingly attractive.

    By 2017, Turkey had become the 13th most popular destination for students from sub-Saharan Africa, according to Campus France (a platform that supports international students studying in France). By 2019, there were an estimated 61,000 African students studying in Turkey.

    Now, nearly three decades into this strategy, many of these former students are stepping into new roles. They are taking over from Turkish entrepreneurs in fostering socioeconomic ties with Africa. They also act as bridges, promoting Turkish universities and supporting visitors in areas like medical and industrial tourism.

    In Istanbul, some run cargo companies – some of them informal – that ship goods to Africa. Others are working to formalise these ventures and build long-term economic bridges. Groups like Bizim Afrika, a network of African Turkish-speakers, and the Federation of African Students in Turkey (founded in 2019), are playing key roles in shaping this next chapter of Turkey–Africa relations.

    How is Turkey’s strategy in west Africa different from that of China or France?

    In substance, Turkey’s strategy isn’t so different from that of France or China. It also carries traces of colonial thinking, even though its approach leans more on religious soft power like building mosques across Africa. Unlike France, which used force in its colonial past, Turkey is trying to gain influence through other means. It uses familiar tools: embassies, schools, cinema, security services, and development agencies.

    However, Turkey has learned from the criticism faced by western powers at a pivotal moment in Africa’s global relations.

    While access to Europe, the US and Canada has become more difficult due to stricter visa rules, Turkey has opened its doors. It eased visa procedures for African business people, expanded its universities, and promoted medical tourism.

    Turkey has become a hub for several sectors. It’s a major centre for nose surgery (rhinoplasty), hair transplants, and textiles. Its textile industry now supplies traders at Makola Market in Accra, Adjamé’s Forum in Côte d’Ivoire, and the Grand Marché in Bamako.

    Turkey has also capitalised on the security crisis in the Sahel, where France’s military presence has become controversial. It stepped in by selling Bayraktar TB2 drones and offering private security services to some governments.

    Is this Turkish presence set to last?

    Turkey’s presence in Africa is now visible in several symbolic ways. You can see it in Maarif schools, murals at Abidjan airport, the “Le Istanbul” restaurant in Niamey’s government district, or the National Mosque in Accra, modelled after Istanbul’s Blue Mosque.

    Turkey’s engagement is a work in progress. But its outreach to Africa is already yielding results. Trade volume reached US$40.7 billion in 2022. The return of the first waves of African students trained in Turkey has shifted the dynamic. Cooperation no longer relies solely on Turkish business people and social entrepreneurs.

    Even though African elites often speak English, French or Arabic, new voices are emerging. Young people trained in Turkey are beginning to find their place. Many work in import-export, construction, and even Islamic religious leadership. This trend points to promising prospects for long-term ties.

    For Turkey, Africa represents a continent with major economic opportunities. Becoming a trusted partner is now a key goal. On the diplomatic level, Turkey gained observer status at the African Union in 2005 and has hosted Turkey-Africa summits in Istanbul since 2008.

    This growing involvement suggests that Turkey’s role in Africa is likely to last. It will depend on the continent’s market needs, especially at a time when many African countries are rethinking their relationships with traditional western powers and international institutions.

    Issouf Binaté 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. Turkey is stepping up its influence in west Africa – what’s behind its bid for soft power – https://theconversation.com/turkey-is-stepping-up-its-influence-in-west-africa-whats-behind-its-bid-for-soft-power-256929

    MIL OSI – Global Reports –

  • MIL-OSI Global: Turkey is stepping up its influence in west Africa – what’s behind its bid for soft power

    Source: The Conversation – Africa – By Issouf Binaté, enseignant-chercheur, Université Alassane Ouattara de Bouaké

    Turkey is stepping up its influence in west Africa as the geopolitical and economic landscape in the region shifts. In Senegal, the state-owned Turkish Petroleum Corporation has entered a key partnership in the oil and gas sector. Meanwhile, Karpowership, a company providing electricity via floating power plants, now supplies energy to eight African countries. But Turkey’s not stopping there. As part of its soft power strategy, it is also winning hearts and minds through education and culture while deepening trade and security ties.

    Historian Issouf Binaté, who has studied Turkey’s growing presence in west Africa, breaks down how Ankara is positioning itself as an alternative to both former colonial powers and newer global players competing for influence on the continent.

    What drives Turkey’s growing influence in west Africa?

    Turkey’s foreign policy in west Africa leans on two main pillars.

    One is institutional power, driven by state-backed agencies (embassies, the religious affairs directorate Diyanet, and the economic cooperation agency (TIKA) .

    The other is more grassroots, led by non-state actors such as religious foundations and NGOs.

    These groups laid the groundwork for Turkey’s African expansion long before Ankara officially stepped in.

    A key player in Turkey’s earlier outreach was the Gülen movement, named after preacher Fethullah Gülen (1941–2024). The Gülen movement pioneered Turkey’s soft power approach with “Turkish schools”, starting with the Yavuz Sultan Selim and Yavuz Selim-Bosphore high schools in Dakar in 1997.

    Also at the end of the 1990s a network composed of Turkish business leaders and social activists under the Turkish Confederation of Businessmen and Industrialists, which claimed over 100,000 member companies, expanded Turkey’s influence across Africa. At that time, Turkey had only three diplomatic representations for the whole of sub-Saharan Africa.

    The more recent contact with Africa comes at a time when western hegemony faces growing criticism from a new generation of Africans engaged in decolonial movements. Gülen-affiliated institutions now number 113, alongside religious and secular schools run by other groups like Mahmud Hudayi Vakfi and Hayrat Vakfi. Since the 2016 political rift between Gülen and President Recep Tayyip Erdoğan, these schools were gradually transferred to Maarif Foundation, Turkey’s state-run overseas education arm.

    Back in 2003, Turkey had only 12 diplomatic missions across Africa. Today, that number has grown to 44, bolstered by Turkish religious foundations (like Mahmud Hudayi Vakfi and Hayrat Vakfi), NGOs, and entrepreneurs who have filled the gap left by the Gülen movement.

    Another powerful player in Turkey’s Africa strategy is Turkish Airlines, now one of the top carriers on the continent. It is now flying to 62 airports in 41 African countries.

    What role do west African students trained in Turkey play?

    By investing in education, Turkey didn’t just open its doors to African students. It also planted the seeds for a long-term influence strategy. These students, and more broadly young African migrants trained in Turkey, are now among the key messengers of “Turkishness” back home.

    In doing so, Ankara is following a familiar path once used by colonial powers. They used student mobility as a powerful tool for their diplomacy.

    This policy of openness took several forms. As early as 1960, it welcomed students from non-self-governing territories in accordance with UN General Assembly resolutions.

    Then, in the 1990s, Turkey continued this effort through a scholarship programme for African students, supported by the Islamic Development Bank. During this period, Turkey launched the Büyük Öğrenci Projesi (Great Student Project), which provided scholarships to international students.

    Starting in 2012, this programme was re-branded as YTB (Yurtdışı Türkler ve Akraba Topluluklar Başkanlığı, or Directorate for Turks Abroad and Related Communities). It introduced reforms, including a digital application process for scholarships via an app on the YTB website. This shift caused a dramatic spike in interest. Applications soared from 10,000 to 155,000 between 2012 and 2020.

    For non-scholarship students, Turkey simplified visa processes, reduced tuition fees, and offered other incentives. These measures contributed to a significant increase in the number of applicants to study in Turkey. As the number of universities in Turkey jumped from 76 to 193 between 2003 and 2015, the country became increasingly attractive.

    By 2017, Turkey had become the 13th most popular destination for students from sub-Saharan Africa, according to Campus France (a platform that supports international students studying in France). By 2019, there were an estimated 61,000 African students studying in Turkey.

    Now, nearly three decades into this strategy, many of these former students are stepping into new roles. They are taking over from Turkish entrepreneurs in fostering socioeconomic ties with Africa. They also act as bridges, promoting Turkish universities and supporting visitors in areas like medical and industrial tourism.

    In Istanbul, some run cargo companies – some of them informal – that ship goods to Africa. Others are working to formalise these ventures and build long-term economic bridges. Groups like Bizim Afrika, a network of African Turkish-speakers, and the Federation of African Students in Turkey (founded in 2019), are playing key roles in shaping this next chapter of Turkey–Africa relations.

    How is Turkey’s strategy in west Africa different from that of China or France?

    In substance, Turkey’s strategy isn’t so different from that of France or China. It also carries traces of colonial thinking, even though its approach leans more on religious soft power like building mosques across Africa. Unlike France, which used force in its colonial past, Turkey is trying to gain influence through other means. It uses familiar tools: embassies, schools, cinema, security services, and development agencies.

    However, Turkey has learned from the criticism faced by western powers at a pivotal moment in Africa’s global relations.

    While access to Europe, the US and Canada has become more difficult due to stricter visa rules, Turkey has opened its doors. It eased visa procedures for African business people, expanded its universities, and promoted medical tourism.

    Turkey has become a hub for several sectors. It’s a major centre for nose surgery (rhinoplasty), hair transplants, and textiles. Its textile industry now supplies traders at Makola Market in Accra, Adjamé’s Forum in Côte d’Ivoire, and the Grand Marché in Bamako.

    Turkey has also capitalised on the security crisis in the Sahel, where France’s military presence has become controversial. It stepped in by selling Bayraktar TB2 drones and offering private security services to some governments.

    Is this Turkish presence set to last?

    Turkey’s presence in Africa is now visible in several symbolic ways. You can see it in Maarif schools, murals at Abidjan airport, the “Le Istanbul” restaurant in Niamey’s government district, or the National Mosque in Accra, modelled after Istanbul’s Blue Mosque.

    Turkey’s engagement is a work in progress. But its outreach to Africa is already yielding results. Trade volume reached US$40.7 billion in 2022. The return of the first waves of African students trained in Turkey has shifted the dynamic. Cooperation no longer relies solely on Turkish business people and social entrepreneurs.

    Even though African elites often speak English, French or Arabic, new voices are emerging. Young people trained in Turkey are beginning to find their place. Many work in import-export, construction, and even Islamic religious leadership. This trend points to promising prospects for long-term ties.

    For Turkey, Africa represents a continent with major economic opportunities. Becoming a trusted partner is now a key goal. On the diplomatic level, Turkey gained observer status at the African Union in 2005 and has hosted Turkey-Africa summits in Istanbul since 2008.

    This growing involvement suggests that Turkey’s role in Africa is likely to last. It will depend on the continent’s market needs, especially at a time when many African countries are rethinking their relationships with traditional western powers and international institutions.

    Issouf Binaté 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. Turkey is stepping up its influence in west Africa – what’s behind its bid for soft power – https://theconversation.com/turkey-is-stepping-up-its-influence-in-west-africa-whats-behind-its-bid-for-soft-power-256929

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Turkey is stepping up its influence in west Africa – what’s behind its bid for soft power

    Source: The Conversation – Africa – By Issouf Binaté, enseignant-chercheur, Université Alassane Ouattara de Bouaké

    Turkey is stepping up its influence in west Africa as the geopolitical and economic landscape in the region shifts. In Senegal, the state-owned Turkish Petroleum Corporation has entered a key partnership in the oil and gas sector. Meanwhile, Karpowership, a company providing electricity via floating power plants, now supplies energy to eight African countries. But Turkey’s not stopping there. As part of its soft power strategy, it is also winning hearts and minds through education and culture while deepening trade and security ties.

    Historian Issouf Binaté, who has studied Turkey’s growing presence in west Africa, breaks down how Ankara is positioning itself as an alternative to both former colonial powers and newer global players competing for influence on the continent.

    What drives Turkey’s growing influence in west Africa?

    Turkey’s foreign policy in west Africa leans on two main pillars.

    One is institutional power, driven by state-backed agencies (embassies, the religious affairs directorate Diyanet, and the economic cooperation agency (TIKA) .

    The other is more grassroots, led by non-state actors such as religious foundations and NGOs.

    These groups laid the groundwork for Turkey’s African expansion long before Ankara officially stepped in.

    A key player in Turkey’s earlier outreach was the Gülen movement, named after preacher Fethullah Gülen (1941–2024). The Gülen movement pioneered Turkey’s soft power approach with “Turkish schools”, starting with the Yavuz Sultan Selim and Yavuz Selim-Bosphore high schools in Dakar in 1997.

    Also at the end of the 1990s a network composed of Turkish business leaders and social activists under the Turkish Confederation of Businessmen and Industrialists, which claimed over 100,000 member companies, expanded Turkey’s influence across Africa. At that time, Turkey had only three diplomatic representations for the whole of sub-Saharan Africa.

    The more recent contact with Africa comes at a time when western hegemony faces growing criticism from a new generation of Africans engaged in decolonial movements. Gülen-affiliated institutions now number 113, alongside religious and secular schools run by other groups like Mahmud Hudayi Vakfi and Hayrat Vakfi. Since the 2016 political rift between Gülen and President Recep Tayyip Erdoğan, these schools were gradually transferred to Maarif Foundation, Turkey’s state-run overseas education arm.

    Back in 2003, Turkey had only 12 diplomatic missions across Africa. Today, that number has grown to 44, bolstered by Turkish religious foundations (like Mahmud Hudayi Vakfi and Hayrat Vakfi), NGOs, and entrepreneurs who have filled the gap left by the Gülen movement.

    Another powerful player in Turkey’s Africa strategy is Turkish Airlines, now one of the top carriers on the continent. It is now flying to 62 airports in 41 African countries.

    What role do west African students trained in Turkey play?

    By investing in education, Turkey didn’t just open its doors to African students. It also planted the seeds for a long-term influence strategy. These students, and more broadly young African migrants trained in Turkey, are now among the key messengers of “Turkishness” back home.

    In doing so, Ankara is following a familiar path once used by colonial powers. They used student mobility as a powerful tool for their diplomacy.

    This policy of openness took several forms. As early as 1960, it welcomed students from non-self-governing territories in accordance with UN General Assembly resolutions.

    Then, in the 1990s, Turkey continued this effort through a scholarship programme for African students, supported by the Islamic Development Bank. During this period, Turkey launched the Büyük Öğrenci Projesi (Great Student Project), which provided scholarships to international students.

    Starting in 2012, this programme was re-branded as YTB (Yurtdışı Türkler ve Akraba Topluluklar Başkanlığı, or Directorate for Turks Abroad and Related Communities). It introduced reforms, including a digital application process for scholarships via an app on the YTB website. This shift caused a dramatic spike in interest. Applications soared from 10,000 to 155,000 between 2012 and 2020.

    For non-scholarship students, Turkey simplified visa processes, reduced tuition fees, and offered other incentives. These measures contributed to a significant increase in the number of applicants to study in Turkey. As the number of universities in Turkey jumped from 76 to 193 between 2003 and 2015, the country became increasingly attractive.

    By 2017, Turkey had become the 13th most popular destination for students from sub-Saharan Africa, according to Campus France (a platform that supports international students studying in France). By 2019, there were an estimated 61,000 African students studying in Turkey.

    Now, nearly three decades into this strategy, many of these former students are stepping into new roles. They are taking over from Turkish entrepreneurs in fostering socioeconomic ties with Africa. They also act as bridges, promoting Turkish universities and supporting visitors in areas like medical and industrial tourism.

    In Istanbul, some run cargo companies – some of them informal – that ship goods to Africa. Others are working to formalise these ventures and build long-term economic bridges. Groups like Bizim Afrika, a network of African Turkish-speakers, and the Federation of African Students in Turkey (founded in 2019), are playing key roles in shaping this next chapter of Turkey–Africa relations.

    How is Turkey’s strategy in west Africa different from that of China or France?

    In substance, Turkey’s strategy isn’t so different from that of France or China. It also carries traces of colonial thinking, even though its approach leans more on religious soft power like building mosques across Africa. Unlike France, which used force in its colonial past, Turkey is trying to gain influence through other means. It uses familiar tools: embassies, schools, cinema, security services, and development agencies.

    However, Turkey has learned from the criticism faced by western powers at a pivotal moment in Africa’s global relations.

    While access to Europe, the US and Canada has become more difficult due to stricter visa rules, Turkey has opened its doors. It eased visa procedures for African business people, expanded its universities, and promoted medical tourism.

    Turkey has become a hub for several sectors. It’s a major centre for nose surgery (rhinoplasty), hair transplants, and textiles. Its textile industry now supplies traders at Makola Market in Accra, Adjamé’s Forum in Côte d’Ivoire, and the Grand Marché in Bamako.

    Turkey has also capitalised on the security crisis in the Sahel, where France’s military presence has become controversial. It stepped in by selling Bayraktar TB2 drones and offering private security services to some governments.

    Is this Turkish presence set to last?

    Turkey’s presence in Africa is now visible in several symbolic ways. You can see it in Maarif schools, murals at Abidjan airport, the “Le Istanbul” restaurant in Niamey’s government district, or the National Mosque in Accra, modelled after Istanbul’s Blue Mosque.

    The. Amuzujoe

    Turkey’s engagement is a work in progress. But its outreach to Africa is already yielding results. Trade volume reached US$40.7 billion in 2022. The return of the first waves of African students trained in Turkey has shifted the dynamic. Cooperation no longer relies solely on Turkish business people and social entrepreneurs.

    Even though African elites often speak English, French or Arabic, new voices are emerging. Young people trained in Turkey are beginning to find their place. Many work in import-export, construction, and even Islamic religious leadership. This trend points to promising prospects for long-term ties.

    For Turkey, Africa represents a continent with major economic opportunities. Becoming a trusted partner is now a key goal. On the diplomatic level, Turkey gained observer status at the African Union in 2005 and has hosted Turkey-Africa summits in Istanbul since 2008.

    This growing involvement suggests that Turkey’s role in Africa is likely to last. It will depend on the continent’s market needs, especially at a time when many African countries are rethinking their relationships with traditional western powers and international institutions.

    – Turkey is stepping up its influence in west Africa – what’s behind its bid for soft power
    – https://theconversation.com/turkey-is-stepping-up-its-influence-in-west-africa-whats-behind-its-bid-for-soft-power-256929

    MIL OSI Africa –

  • MIL-OSI: Ageas successfully places its inaugural GBP 400 million Senior Notes

    Source: GlobeNewswire (MIL-OSI)

    Today ageas SA/NV successfully placed its inaugural debt securities in the form of GBP 400 million Senior Fixed Rate Notes (the “Notes”) maturing in December 2028 and with a first call date in September 2028. The issuance generated substantial interest from UK institutional investors.

    The Notes will be issued in denominations of GBP 100,000 at a re-offer price of 99.963 with a fixed coupon rate of 4.75% payable annually, with a first coupon payment scheduled for December 2025.

    Standard and Poor’s assigned an A+ rating and Moody’s assigned an A1 rating to the Notes. Application has been made for the Notes to be listed on the official list of the Luxembourg Stock Exchange and to be admitted to trading on the Luxembourg Stock Exchange’s Euro MTF market. The Notes are expected to be issued and settled on 1 July 2025.

    The net proceeds of the Notes complete the financing of the acquisition of esure and will also be used for general corporate purposes.

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

    Disclaimer

    THIS COMMUNICATION IS NOT INTENDED FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION IS PROHIBITED UNDER APPLICABLE LAW.

    The issue, exercise or sale of securities in the offering mentioned in this press release are subject to specific legal or regulatory restrictions in certain jurisdictions. The information contained herein shall not constitute or form part of an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein, in any jurisdiction in which such offer, solicitation or sale would be unlawful. ageas SA/NV assumes no responsibility in the event there is a violation by any person of such restrictions.

    This press release does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States or any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the Securities Act of 1933, as amended, and may not be offered, exercised or sold in the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.

    This communication may only be communicated, or caused to be communicated, to persons in the United Kingdom in circumstances where the provisions of Section 21 of the Financial Services and Markets Act 2000, as amended (the “Financial Services and Markets Act”) do not apply to ageas SA/NV and is directed solely at persons in the United Kingdom who (i) have professional experience in matters relating to investments, such persons falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) are persons falling within Article 49(2)(a) to (d) of the Order or other persons to whom it may lawfully be communicated (all such persons together being referred to as “relevant persons”). This communication is directed only to relevant persons and must not be acted on or relied on by persons who are not relevant persons.

    The securities referred to herein are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the European Economic Area. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU, as amended (“MiFID II”) or (ii) a customer within the meaning of Directive (EU) 2016/97, as amended (the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II.

    The securities referred to herein are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the United Kingdom. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (“EUWA”) or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act and any rules or regulations made under the Financial Services and Markets Act to implement the Insurance Distribution Directive, where that customer would not qualify as a professional client as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA.

    The securities referred to herein are also not intended to be offered, sold or otherwise made available, and will not be offered, sold or otherwise made available, in Belgium to “consumers” (consumenten/consommateurs) within the meaning of the Belgian Code of Economic Law (Wetboek van economisch recht/Code de droit économique), as amended.

    The securities referred to herein may be held only by, and transferred only to, eligible investors referred to in Article 4 of the Belgian Royal Decree of 26 May 1994, holding their securities in an exempt securities account that has been opened with a financial institution that is a direct or indirect participant in the securities settlement system operated by the National Bank of Belgium or any successor thereto.

    This press release is not a prospectus nor an advertisement for the purpose of Regulation (EU) 2017/1129.

    A security rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency.

    Attachment

    The MIL Network –

  • MIL-OSI Banking: Designated Businesses event video and Q&A published

    Source: Isle of Man

    As part of its programme of outreach activities, the Isle of Man Financial Services Authority delivered its bi-annual AML/CFT Forum at the Manx Museum in April 2025. This was a presentation to Designated Non-Financial Businesses and Professions (“DNFBPs”) which was recorded and is available to view online.

    Stacey Kneen, AML/CFT Supervision Manager, set out the DNFBP supervisory structure, and highlighted various Code obligations. Lucy Hendy, AML/CFT Supervision Senior Manager, provided an update on the Island’s National Risk Assessment and preparations for the MONEYVAL evaluation in 2026.

    Following the presentation, senior officers from the Authority took part in a question-and-answer panel session to respond to enquiries from members of the audience.

    As there was insufficient time to answer to all the questions that were submitted on the day, a Q&A document has been published on the Authority’s website covering the main themes and topics raised.

    Whilst the audience of the event was DNFBPs, the presentation and Q&A content is relevant to all supervised entities.

    MIL OSI Global Banks –

  • MIL-OSI Russia: There is no reason to panic – the conditions for blocking small transfers from Russians have been revealed

    Translation. Region: Russian Federal

    Source: Mainfin Bank –

    How does temporary blocking of funds on cards and accounts work?

    Rosfinmonitoring has begun blocking bank clients’ transactions to combat droppers – the agency has received the right to directly restrict transactions. From June 1:

    financial intelligence can independently contact the bank to block funds; suspension of transactions is possible only if there is a suspicion that the person is using the account to finance extremism or legalize criminal proceeds; the period of restrictions is no more than 10 days, and in exceptional situations – up to 30 days; blocking is carried out on the basis of 115-FZ – such a mechanism previously existed and was automated in a number of banks, i.e. it was triggered in the presence of risk indicators.

    The fight against fraud is also being carried out in other areas – financial intelligence, together with the Central Bank of the Russian Federation, is creating a platform for exchanging information about clients banks, and the Ministry of Internal Affairs is developing amendments to the Criminal Code of the Russian Federation, providing for criminal liability for droppers.

    When can Rosfinmonitoring restrict card transactions?

    The department promised to abandon the practice of mass blocking. Experts believe that the risk zone will include bank clients who:

    often receive transfers from different people, friends, relatives, regardless of the amount; receive money without explanation or with a payment purpose, for example, “debt repayment”; plan a trip abroad and at the same time suspicious activity is recorded on the card, including multiple transactions; receive frequent transfers due to professional employment – we are talking about freelancers, bloggers, home bakers, etc.

    “Regular transfers, donations, participation in collections, receiving income on a personal card of an individual are risk factors. To confirm the legality of the funds, you will have to present the relevant documents,” the expert noted.

    The innovations will lead to more frequent complaints about banks – Russians will go to court against the backdrop of blockages. At the same time, the law has been in effect for almost a month – and during this time, no mass complaints about the actions of Rosfinmonitoring have been recorded.

    15:00 06/24/2025

    Source:

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

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

    HTTPS: //Mainfin.ru/novosti/povodov-for-fan-no-nest-conquest-blockers-mini-cross-and-Russian trains

    MIL OSI Russia News –

  • MIL-OSI: Siili Solutions Plc: Share Repurchase 24.6.2025

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc       Announcement  24.6.2025
         
         
    Siili Solutions Plc: Share Repurchase 24.6.2025  
         
    In the Helsinki Stock Exchange    
         
    Trade date           24.6.2025  
    Bourse trade         Buy  
    Share                  SIILI  
    Amount             1 200 Shares
    Average price/ share    6,4167 EUR
    Total cost            7 700,04 EUR
         
         
    Siili Solutions Plc now holds a total of 17 149 shares
    including the shares repurchased on 24.6.2025  
         
    The share buybacks are executed in compliance with Regulation 
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.
         
    On behalf of Siili Solutions Plc    
         
    Nordea Bank Oyj    
         
    Sami Huttunen Ilari Isomäki  
         
    Further information:    
    CFO Aleksi Kankainen    
    Email: aleksi.kankainen@siili.com    
    Tel. +358 50 584 2029    
         
    www.siili.com    

    Attachment

    The MIL Network –

  • MIL-OSI Europe: European Union – Minister’s participation in the Foreign Affairs Council (June 24, 2025)

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    The Minister for Europe and Foreign Affairs took part in the EU’s Foreign Affairs Council (FAC) held on June 23 in Brussels.

    With regard to the situation in Ukraine, the Ministers underscored the EU and its Member States’ continued support for Ukraine more than three years after the start of the Russian war of aggression. The Member States agreed to step up pressure on Russia and the third countries that support it economically through the swift adoption of large-scale sanctions targeting the Russian economy.

    The situation in the Middle East and the troubling escalation between Iran and Israel were also discussed. Coming a day after the joint statement issued on June 22 by the leaders of the E3 (Germany, France and the United Kingdom) on the situation in the Middle East, the meeting emphasized the importance of de-escalation and the need to achieve a diplomatic solution with regard to oversight of the nuclear program and stressed the need for Iran to cease its destabilizing actions.

    The Minister reiterated that the current escalation must not overshadow the intolerable situation in Gaza, and particularly the intolerable obstacles hindering access to humanitarian aid, as well as continued settlement activity in the West Bank. The Ministers took note of the report by the High Representative/Vice-President of the European Commission, which states that article 2 of the EU-Israel association agreement, dealing with human rights, is not being respected. They authorized Kaja Kallas to hold talks with the Israeli authorities to obtain concrete improvements in the situation and in respect for international humanitarian law. The Ministers will decide on this basis how they will follow up at the next Foreign Affairs Council meeting in July.

    Lastly, with regard to Georgia, the Ministers expressed their concern over the serious deterioration in the rule of law, violence against protesters and arbitrary arrests.

    MIL OSI Europe News –

  • MIL-OSI Banking: BOBC Auction Results – 24 June 2025

    Source: Bank of Botswana

    The Monetary Policy Rate (MoPR) was unchanged at 1.9 percent of the previous week, for a paper maturing on 2 July 2025. For the 1-month BoBC paper maturing on 23 July 2025, the stop-out yield remained unchanged at 2.24 percent. The summarised results of the auction held on 24 June 2025, are attached below:

    BOBC Auction Results – 24 June 2025.pdf

    MIL OSI Global Banks –

  • MIL-OSI China: Chinese researchers reintroduce critically endangered plant into wild

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

    Chinese researchers have successfully reintroduced Petrocosmea grandiflora, a critically endangered plant long thought lost, into its natural habitat in the sinkholes of Mengzi City, in the Honghe Hani and Yi Autonomous Prefecture of southwest China’s Yunnan Province.

    The conservation effort was led by the Germplasm Bank of Wild Species (GBOWS), operated by the Kunming Institute of Botany under the Chinese Academy of Sciences, in collaboration with the local forestry and grassland bureau.

    The journey began in 2021, when researchers conducted a preliminary survey of sinkholes around Mengzi. On June 17 of that year, the researchers used drone surveillance and professional climbing teams to descend into a massive sinkhole — over 100 meters wide and up to 100 meters deep — to collect and study germplasm resources. There, they rediscovered a wild population of Petrocosmea grandiflora, a species that had not been seen in over 125 years.

    Endemic to China, the plant was first described in 1895 by a British botanist, based on specimens collected in Mengzi by Northern Irish botanist William Hancock.

    While the specimens were preserved at the Royal Botanic Gardens, Kew, in Britain, the species remained absent from scientific observation for more than a century.

    The rediscovery marked a turning point. In October 2021, GBOWS researchers began asexual propagation of the species to address its scarcity in the wild and its low rate of natural reproduction. Hundreds of seedlings were cultivated in laboratories and greenhouses.

    Last weekend, those lab-grown plants were returned to the wild.

    Two reintroduction sites were selected. The first was the original sinkhole, which offers ideal ecological conditions and minimal human disturbance. The second site, located about 1 km away, is a shaded limestone cliff near an agricultural road, selected for its accessibility to facilitate monitoring.

    To replicate the plant’s natural habitat, the researchers planted the seedlings on near-vertical limestone cliffs. Long-term monitoring of the reintroduced populations will be carried out jointly by the participating institutions.

    “This represents a full-circle scientific endeavor made possible by relentless effort,” said Cai Jie, deputy director of GBOWS. “From the accidental rediscovery of the critically endangered Petrocosmea grandiflora, to its successful propagation in the lab, and now its return to the wild, it’s a powerful testament to China’s commitment to biodiversity conservation.”

    As part of China’s national strategy to safeguard strategic biological resources and promote scientific innovation, GBOWS has been collecting, preserving and researching wild germplasm from China and its surrounding regions.

    By the end of 2024, GBOWS had preserved more than 100,000 plant seed accessions from over 12,000 wild species, along with about 10,000 species and 70,000 samples of plant DNA. Its collection also includes microbial strains, fungal specimens and animal germplasm, totaling 27,000 species and 330,000 biological samples. 

    MIL OSI China News –

  • MIL-OSI China: AIIB’s first decade marks a path of multilateral, sustainable development

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

    As the Asian Infrastructure Investment Bank (AIIB) marks its 10th anniversary, the multilateral development bank is playing an increasingly prominent role in advancing connectivity, green growth, and sustainable development across regions.

    Founded in 2015, AIIB has grown from 57 founding members to 110 across six continents, covering 81 percent of the world’s population and 65 percent of global GDP.

    Over the past decade, it has approved over 60 billion U.S. dollars in financing for 320 projects, leveraging more than 200 billion U.S. dollars in infrastructure investment.

    From electrifying rural Bangladesh to building roads in Cote d’Ivoire, AIIB-supported projects are narrowing infrastructure gaps and improving lives across continents.

    Infrastructure transforming lives

    In Padmo Para village near Dhaka, Bangladesh, local resident Najma Aktar recalls a time when her family studied by the light of a kerosene lamp. That changed in 2016, when the AIIB provided a 165 million U.S. dollar loan to upgrade the local power grid.

    As the bank’s first standalone financed investment, it brought electricity to 12.5 million rural residents, transforming their daily lives.

    By the end of 2024, AIIB has supported over 51,000 kilometers of transport infrastructure — enough to circle the Earth more than once — and benefited more than 410 million people.

    In Indonesia, AIIB supported the upgrading of urban slums, improving the lives of nearly 10 million people. In China’s Yunnan Province, airport expansion enhanced flower exports and boosted farmers’ incomes by 25 percent. In Uzbekistan, AIIB helped extend access to clean water for 660,000 residents.

    “AIIB’s concrete actions have effectively helped bridge global infrastructure investment gaps, advanced regional development, and contributed positively to global economic growth,” said Lu Feng, professor at Peking University.

    Multilateral platform for cooperation

    “AIIB was established on the principles of multilateralism and high international standards,” the bank’s president Jin Liqun told Xinhua in a recent interview, noting that these principles have enabled the bank to earn broad trust and participation across the globe.

    AIIB’s investments span not only Asia but also Africa, Latin America, and beyond, reflecting its commitment to promoting global sustainable development.

    “Asia cannot thrive in isolation,” Jin said, noting that while the bank’s primary focus is Asia, its work also supports broader cooperation that contributes to meaningful development outcomes around the world.

    Reflecting this vision, AIIB has actively expanded its global partnerships and collaborative financing efforts. It is now the largest co-financing partner of the World Bank and the Asian Development Bank, and has built partnerships with over 100 organizations, including multilateral and regional institutions, policy banks, private sector players and philanthropy foundations.

    On the capital markets side, AIIB had issued over 54 billion U.S. dollars equivalent bonds in multiple currencies as of the end of May, and has consistently maintained triple-A credit ratings from Moody’s, S&P, and Fitch. Moody’s, for instance, credited the bank’s top rating to its strong financial footing, well-performing assets, and ample liquidity.

    “AIIB has become a new model for multilateral cooperation through its innovative operations and collaborative approach,” said Bai Chong’en, dean of the School of Economics and Management at Tsinghua University, noting its flexible and pragmatic support for infrastructure development in developing countries.

    Investing in infrastructure for tomorrow

    Amid rising global challenges, AIIB is positioning itself as a future-oriented development bank that supports both traditional and digital infrastructure for the long haul.

    In 2020, the bank launched its corporate strategy themed “Infrastructure for Tomorrow,” with priorities including green infrastructure, technology-enabled infrastructure, connectivity and cross-border cooperation, and private capital mobilization.

    By 2025, at least 50 percent of its approved financing was expected to support climate-related projects, a target the bank achieved in 2022, three years ahead of schedule.

    In Cote d’Ivoire, an AIIB-financed rural road project approved in 2023 has made it easier for villagers to reach hospitals and sell cashews and cocoa, even during flood seasons. Local project coordinator Gilbert Ekpini said residents were thrilled with the changes.

    By the end of 2024, AIIB-supported projects had added 21.3 gigawatts of installed power generation capacity of renewable energy, helping to reduce nearly 30 million tonnes of CO2-equivalent greenhouse gas emissions annually.

    The bank is increasingly helping its members embrace the digital era. Last year, AIIB launched InfraTech Portal, a digital platform that shares comprehensive, neutral and free information on infrastructure technologies.

    “Artificial intelligence holds vast potential and offers developing countries an opportunity to leap ahead in their development,” Jin said.

    “That’s why our infrastructure investments must evolve with the times. We should ensure that emerging technologies like AI help narrow, but not widen, the digital divide, especially for the developing world,” he added. 

    MIL OSI China News –

  • MIL-OSI: EY US announces Rohit Kapoor of EXL as an Entrepreneur Of The Year® 2025 New York Award winner

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 24, 2025 (GLOBE NEWSWIRE) — Ernst & Young LLP (EY US) announced that Rohit Kapoor, chairman and chief executive officer of EXL, was named an Entrepreneur Of The Year 2025 New York Award winner. Entrepreneur Of The Year is the preeminent competitive awards program for entrepreneurs and leaders of high-growth companies. For 40 years, EY US has celebrated ambitious entrepreneurs who are transforming industries, impacting communities and creating long-term value.

    Kapoor was chosen by an independent panel of past winners, top CEOs and business leaders. Judges assessed candidates on long-term value creation, entrepreneurial spirit, purpose-driven commitment and significant growth and impact.

    “Being named EY Entrepreneur Of The Year 2025 New York Award winner is a tremendous honor, but this award also belongs to the 60,000 employees of EXL whose hard work, commitment and relentless pursuit of excellence have always driven us forward,” said Kapoor. “This recognition is a testament to the culture of innovation and entrepreneurship we’ve built together, and I accept it with immense gratitude.”

    As a New York award winner, Kapoor is now eligible for consideration for the Entrepreneur Of The Year 2025 National Awards. The National Award winners, including the Entrepreneur Of The Year National Overall Award winner, will be announced in November at the Strategic Growth Forum®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies. The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the EY World Entrepreneur Of The Year™ Award in June 2026.  

    Entrepreneur Of The Year recognizes many different types of business leaders for their ingenuity, courage and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future.

    The Entrepreneur Of The Year program has recognized the leadership of entrepreneurs such as:

    • Sheila Mikhail of AskBio
    • Caryn Seidman Becker and Ken Cornick of CLEAR
    • James Park of Fitbit
    • Arthur Blank of The Home Depot
    • Kendra Scott of Kendra Scott LLC
    • Reed Hoffman and Jeff Weiner of LinkedIn
    • Saiju Jeong of Noom
    • Howard Schultz of Starbucks Coffee Company
    • Jodi Berg of Vitamix
    • Michael Happe of Winnebago Industries
    • Eric Yuan of Zoom

    Sponsors
    Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh USA, and SAP. In New York, sponsors also include regional Platinum sponsor Donnelley Financial Solutions (DFIN), and regional Gold sponsors, ADP and DLA Piper.

    About Entrepreneur Of The Year                                                                                                                       
    Founded in 1986, Entrepreneur Of The Year has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 60 countries globally.

    The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November where National finalists and award winners are announced. The overall National winner represents the US at the EY World Entrepreneur Of The Year™ competition. Visit ey.com/us/eoy.

    About EY
    EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

    Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

    EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

    All in to shape the future with confidence.

    EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

    About EXL
    EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 60,000 employees spanning six continents. For more information, visit www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

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

    Source: International Monetary Fund

    Summary

    Uzbekistan has made remarkable progress in its transition to a market-oriented economy. Far-reaching economic reforms have transformed the economy and spurred capital inflows which, combined with buoyant remittances and favorable commodity prices, have driven robust growth. The authorities remain firmly committed to their reform agenda to entrench macro-financial stability, reduce the footprint of the state in the economy, and foster a vibrant private sector.

    MIL OSI Global Banks –

  • MIL-OSI Russia: Zou Jiayi elected as AIIB President /detailed version-1/

    Translation. Region: Russian Federal

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

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

    BEIJING, June 24 (Xinhua) — Zou Jiayi has been elected president of the Asian Infrastructure Investment Bank (AIIB) for a five-year term, the bank said Tuesday.

    This is the third vote to head the AIIB since its establishment. The first AIIB President, Jin Liqun, will end his second term on January 15, 2026.

    The results of the vote were announced at the 10th annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB).

    Zou Jiayi is a seasoned executive with more than 30 years of experience in global financial policy, according to the AIIB’s official website. As China’s vice minister of finance, she played a key role in establishing China’s relationship with major international financial institutions. She has also worked for international financial institutions such as the World Bank Group, the Asian Development Bank, and the New Development Bank.

    The AIIB is a multilateral development bank focused on financing “infrastructure for tomorrow” with sustainable development at its core. Launched in 2016, the AIIB currently has 110 approved members worldwide, according to the bank’s website. -0-

    MIL OSI Russia News –

  • MIL-OSI Europe: Philip R. Lane: Monetary policy: new challenges

    Source: European Central Bank

    Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Barclays-CEPR Monetary Policy Forum 2025

    London, 24 June 2025

    Since the extraordinary inflation surges in 2021-2022, the primary challenge facing monetary policy has been to return inflation to target in a timely manner.[1] In terms of interest rate policy, this required a rapid hiking cycle from July 2022 to September 2023, followed by a “hold at peak” phase and then a gradual reversal of the restrictive stance starting in June 2024.[2] The gradualism in the easing phase reflected ongoing uncertainty about the speed of the disinflation process.

    While headline inflation is currently around the target, services inflation still has some distance to travel to make sure that inflation stabilises at the target on a sustainable basis. Still, there has been sufficient progress in returning inflation to target to consider that this monetary policy challenge is largely completed. This assessment is reinforced by the accumulating evidence that the remaining services disinflation is well on track: first, the projection errors for inflation, including for the services subcomponent, have been relatively small during the disinflation process; second, both the wage tracker data and survey indicators suggest that further deceleration in wage growth can be expected in both 2025 and 2026, facilitating further declines in services inflation.

    However, this disinflation challenge has been superseded by a new set of challenges and monetary policymakers have to make sure that the medium-term inflation target is protected in a volatile environment in which, amongst other factors, there is high uncertainty about the future of long-standing international trade system.[3] This uncertainty extends beyond the calibration of new tariff regimes and includes the possibility of a broader set of non-tariff barriers, a deeper intertwining of economic policies and security policies and possible revisions to the treatment of foreign portfolio investors and foreign direct investors. In addition to policy uncertainty, geopolitical tensions, such as Russia’s unjustified war against Ukraine and the tragic conflict in the Middle East, remain a major source of uncertainty. Reflecting these developments, we have seen high volatility in energy prices this year and substantial currency repricing. There has also been considerable financial market volatility.

    At the same time (and largely as an endogenous reaction to the changed security landscape), the fiscal outlook for the euro area has materially changed for the coming years, with the overall fiscal deficit looking set to remain above three per cent over the projection horizon. The near-term and medium-term implications for output and inflation of the structural changes associated with the green transition, the increasing business adoption of artificial intelligence applications and global shifts in comparative advantage are also highly uncertain, operating both on demand and supply with potentially different timelines.

    Especially under current conditions of high uncertainty, it is essential to remain data dependent and take a meeting-by-meeting approach in making monetary policy decisions, with no pre-commitment to any particular future rate path. In addition to observing how activity and inflation are actually behaving, data dependence also extends to the incoming data on policy settings outside the monetary domain, since shifts in international and domestic policy regimes are highly relevant for future inflation dynamics. In this environment, the primary task for monetary policy makers is to make sure that any temporary deviations from target do not turn into longer-term deviations.

    This orientation explains our June decision to cut rates by 25 basis points. The June projections were conditioned on a rate path that included a quarter-point reduction of the deposit facility rate (DFR) in June: model-based optimal policy simulations and an array of monetary policy feedback rules indicated a cut was appropriate under the baseline and also constituted a robust decision, remaining appropriate across a range of alternative future paths for inflation and the economy. By supporting the pricing pressure needed to generate target-consistent inflation in the medium-term, this cut helps ensure that the projected negative inflation deviation over the next eighteen months remains temporary and does not convert into a longer-term deviation of inflation from the target. This cut also guards against any uncertainty about our reaction function by demonstrating that we are determined to make sure that inflation returns to target in the medium term. This helps to underpin inflation expectations and avoid an unwarranted tightening in financial conditions.

    It is worth noting, in particular, that the robustness of the decision was also supported by a set of model-based optimal policy simulations conducted on various combinations of the trade scenarios discussed in the Eurosystem staff projections report, even when also factoring in upside scenarios for fiscal expenditure. By contrast, leaving the DFR on hold at 2.25 per cent could have triggered an adverse repricing of the forward curve and a revision in inflation expectations that would risk generating a more pronounced and longer-lasting undershoot of the inflation target. In turn, if this risk materialised, a stronger monetary reaction would ultimately be required.

    Looking ahead, our monetary policy will have to take into account not only the most likely path (the baseline) but also the risks to activity and inflation. To this end, it will be important to explore how alternative rate paths hold up in various plausible sensitivity and scenario analyses, in order to make sure we minimise the risk of extended deviations from our medium-term target.

    MIL OSI Europe News –

  • MIL-OSI: Fengate and Alpha Omega Power start operations at Caballero Battery Energy Storage System

    Source: GlobeNewswire (MIL-OSI)

    NIPOMO, Calif., June 24, 2025 (GLOBE NEWSWIRE) — Fengate Asset Management (Fengate) and Alpha Omega Power (AOP) today announced that the 100-megawatt (MW)/400-megawatt-hour (MWh) Caballero Battery Energy Storage System (BESS) facility in Nipomo, California has achieved full commercial operations.

    Caballero BESS is the first facility of its kind in San Luis Obispo County, providing much needed power capacity and using only top-tier technology to ensure world-class safety and durability.

    “Caballero BESS is good for the environment and the community, providing enough reliable, clean energy to the central coast of California to power more than 100,000 homes for up to four hours every day, and contributing to local economic growth through the use of 100% union labor during the project’s construction phase,” said Greg Calhoun, Managing Director, Infrastructure Investments at Fengate. “We look forward to funding the continued growth of AOP and bringing resilient, stable power to grids across the United States.”

    “Delivering a best-in-class energy storage facility of this scale is AOP’s core mission. Thanks to the world-class team of BESS experts, we have at AOP, and support from our trusted partners, we’re now delivering ‘Reliability, Stored’ to California,” said Paul Choi, Founder and CEO of AOP. “Our team is proud to achieve this milestone, which solidifies AOP as a leading BESS Independent Power Producer.”

    Working shoulder-to-shoulder with all local and state authorities, Caballero BESS underwent rigorous testing and training with Cal Fire, San Luis Obispo City, and County Fire during the construction and testing phases. The project meets or exceeds all local, state, and federal safety requirements, including California Fire Codes and the latest National Fire Protection Association (NFPA) 855 standards for energy storage.

    Caballero BESS is the first investment by the Fengate and AOP partnership, which formed in 2023. Fengate is managing this investment on behalf of the Fengate Infrastructure Fund IV and its affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada.

    The project received financing from MUFG Bank Ltd. (MUFG) and from U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank that provides capital to the renewable energy industry via tax equity and project finance debt.

    “MUFG is pleased to partner with AOP as it deploys the energy storage resources needed to facilitate the effective and reliable integration of renewable resources into the electric system,” said Phillip Fletcher, Director, Project Finance at MUFG.

    “Our investment in the Caballero BESS project is one way we can support our clients with custom financing solutions,” said Jon Peeples, Environmental Finance Business Development Director at U.S. Bancorp Impact Finance. “We’re proud to support Fengate and AOP in their work to expand sources of clean energy, strengthen the energy grid, and drive local job creation.”

    About Fengate

    Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies, with more than $7 billion of capital commitments under management. The firm has been investing in infrastructure since 2006 with a focus on mid- market greenfield and brownfield infrastructure assets in the transportation, social, energy transition and digital sectors. Fengate is one of North America’s most active infrastructure investors and developers with a portfolio of more than 50 assets. Learn more at www.fengate.com.

    About Alpha Omega Power

    We are innovators focused on utility-scale battery storage, enhancing grid reliability, supporting renewable energy integration for a cleaner, sustainable energy future. AOP develops, acquires, builds, and operates BESS assets in the United States focusing on investment discipline and technological excellence. AOP currently holds a portfolio of over 2GW of BESS projects across key markets and partners with the nation’s top Load Serving Entities to deliver “Reliability, Stored.”

    Media contact

    Maddison Sharples
    Vice President, Communications and Marketing
    Fengate Asset Management
    +1 416-254-3326
    Maddison.Sharples@fengate.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c0d84e7c-908c-464f-84d5-1bca7ec1d02e

    The MIL Network –

  • MIL-OSI: Nykredit Realkredit A/S – Extraordinary General Meeting on 24 June 2025 and changes to the Executive Board

    Source: GlobeNewswire (MIL-OSI)

    To Nasdaq Copenhagen

    Nykredit Realkredit A/S – Extraordinary General Meeting on 24 June 2025 and changes to the Executive Board

    At Nykredit Realkredit’s Extraordinary General Meeting held on Tuesday 24 June 2025, Lasse Nyby was elected member of the Board of Directors. The Board of Directors further includes Merete Eldrup, Preben Sunke, Olav Bredgaard Brusen, Michael Demsitz, Rasmus Fossing, Per W. Hallgren, Kathrin Helene Hattens, Jørgen Høholt, Torsten Hagen Jørgensen, Vibeke Krag, Mie Krog and Inge Sand.

    At the meeting of the Board of Directors immediately following the Extraordinary General Meeting, the Board of Directors elected Merete Eldrup as its Chair and Preben Sunke and Lasse Nyby as its Deputy Chairs.

    Also at the subsequent meeting of the Board of Directors, Martin Kudsk Rasmussen joined the Group Executive Board. The Group Executive Board of Nykredit Realkredit A/S now consists of Group Chief Executive Michael Rasmussen and Group Managing Directors Anders Jensen, David Hellemann, Martin Kudsk Rasmussen, Pernille Sindby and Tonny Thierry Andersen.

    Information about Martin Kudsk Rasmussen’s education, professional experience and other directorships and executive positions is provided in Appendix 1.

    Copenhagen, 24 June 2025

    Nykredit Realkredit A/S
    Board of Directors

    Contact
    Questions may be addressed to Press Relations, tel +45 31 21 06 39.

    Appendix 1 – CV of Martin Kudsk Rasmussen

    Martin Kudsk Rasmussen
    Year of birth: 1978

    Career  
    2020 – Managing Director, Spar Nord Bank A/S
    2016 – 2020 Head of Corporate Banking, Spar Nord Bank A/S
    2012 – 2016 Head of Special Credits, Spar Nord Bank A/S
    2010 – 2012 Managing Director, Credits, Sparbank A/S
    2009 – 2010 Head of Corporate Accounts, Sparbank A/S
    2008 – 2009 Head of Credits, Jyske Bank A/S
    2008 – 2008 Acting Head of Corporate Accounts, Sparbank A/S
    2005 – 2008 Credit Adviser, Sparbank Vest A/S
    2002 – 2005 Accountant, PwC
       
    Education  
    2019 Executive education from Insead
    2003 – 2007 Master (Business Economics and Auditing), University of Southern Denmark
    1999 – 2002 Bachelor (Economics and Business Administration), Herning Institute of Business Administration and Technology 
       
    Directorships and other positions (current)  
    Aktieselskabet Skelagervej 15 (Board Member)  
    Nærpension Forsikringsformidling (Board Member)  
    SNB IV Komplementar ApS (Board Member)  
    Vækst-Invest Nordjylland A/S (Board Member)  
       
    Directorships and other positions (previous)  
    Egnsinvest Tyske Ejendomme A/S (Deputy Chair)  
    Letpension Forsikringsformidling A/S (Board Member)  
    BI Asset Management Fondsmæglerselskab A/S (Deputy Chair)  
    BI Holding A/S (Deputy Chair)                   
    SNB II Komplementar ApS (Board Member)  
       

    Attachment

    The MIL Network –

  • MIL-OSI: Nykredit Bank A/S – changes to the Executive Board

    Source: GlobeNewswire (MIL-OSI)

    To Nasdaq Copenhagen

    Nykredit Bank A/S – changes to the Executive Board

    As of 24 June 2025, Carsten Levring Jakobsen and Martin Kudsk Rasmussen have joined the Executive Board of Nykredit Bank A/S. The Executive Board of Nykredit Bank A/S now consists of Carsten Levring Jakobsen, Martin Kudsk Rasmussen, Dan Erik Krarup Sørensen and Søren Kviesgaard.

    Information about Carsten Levring Jakobsen’s and Martin Kudsk Rasmussen’s education, professional experience and other directorships and executive positions is provided in Appendix 1.

    Copenhagen, 24 June 2025

    Nykredit Bank A/S
    Board of Directors

    Contact
    Questions may be addressed to Press Relations, tel +45 31 21 06 39.

    Appendix 1 – CVs of Martin Kudsk Rasmussen and Carsten Levring Jakobsen

    Martin Kudsk Rasmussen
    Year of birth: 1978

    Career    
    2020 – Managing Director, Spar Nord Bank A/S
    2016 – 2020 Head of Corporate Banking, Spar Nord Bank A/S
    2012 – 2016 Head of Special Credits, Spar Nord Bank A/S
    2010 – 2012 Managing Director, Credits, Sparbank A/S
    2009 – 2010 Head of Corporate Accounts, Sparbank A/S
    2008 – 2009 Head of Credits, Jyske Bank A/S
    2008 – 2008 Acting Head of Corporate Accounts, Sparbank A/S
    2005 – 2008 Credit Adviser, Sparbank Vest A/S
    2002 – 2005 Accountant, PwC
       
    Education  
    2019 Executive education from Insead
    2003 – 2007 Master (Business Economics and Auditing), University of Southern Denmark
    1999 – 2002 Bachelor (Economics and Business Administration), Herning Institute of Business Administration and Technology 
       
    Directorships and other positions (current)  
    Aktieselskabet Skelagervej 15 (Board Member)  
    Nærpension Forsikringsformidling (Board Member)  
    SNB IV Komplementar ApS (Board Member)  
    Vækst-Invest Nordjylland A/S (Board Member)  
       
    Directorships and other positions (previous)  
    Egnsinvest Tyske Ejendomme A/S (Deputy Chair)  
    Letpension Forsikringsformidling A/S (Board Member)  
    BI Asset Management Fondsmæglerselskab A/S (Deputy Chair)  
    BI Holding A/S (Deputy Chair)                   
    SNB II Komplementar ApS (Board Member)  
       

    Carsten Levring Jakobsen
    Year of birth: 1970

    Career    
    2023 – Managing Director, Spar Nord Bank A/S
    2019 – 2023 Chief Risk Officer (CRO), Spar Nord Bank A/S
    2006 – 2019 Financial Manager, Spar Nord Bank A/S
    2005 – 2006 Chief Controller, Spar Nord Bank A/S
    2005 Business Controller, Spar Nord Bank A/S
    2002 – 2005 Business Controller, Danske Bank A/S
    1998 – 2002 Business Analyst, Danske Bank A/S
       
    Education  
    2010 – 2012 Master of Business Administration, MBA Strategy, Business Institute Denmark  
    1992 – 1998 Msc (Economics and Finance), Aarhus University  
       
    Directorships and other positions (current)  
    Aktieselskabet Skelagervej 15 (Board Member)  
       
    Directorships and other positions (previous)  
    DLR Kredit A/S (Deputy Chairman)  
       

    Attachment

    The MIL Network –

  • MIL-OSI: Proceedings of the extraordinary general meeting of Spar Nord Bank A/S

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 22

            

    Proceedings of the extraordinary general meeting of Spar Nord Bank A/S and changes to the Executive Board

    At the extraordinary general meeting held on 24 June 2025, the following resolutions were passed:

    • Election of members to the Board of Directors
    • Dismissal of the auditor and election of a new auditor
    • Amendments to the Articles of Association

    Election of members to the Board of Directors
    All existing members of the Board of Directors elected by the general meeting resigned from the Board of Directors. Michael Rasmussen, Anders Jensen, Tonny Thierry Andersen, Pernille Sindby, and David Hellemann were elected as new members of the Board of Directors. The Board of Directors also consists of the following employee representatives: Jannie Merete Thorsø Skovsen, Gitte Holmgaard Sørensen, and Rikke Marie Jacobsen Christiansen.

    At the subsequent Board meeting, the Board of Directors constituted itself with Michael Rasmussen as Chairman and Anders Jensen as Vice Chairman.

    Removal of the auditor and election of a new auditor
    It was resolved to remove the company’s auditor, Deloitte Statsautoriseret Revisionspartnerselskab, and EY Godkendt Revisionspartnerselskab was elected as the new auditor to audit the company’s annual financial statements and to issue a statement on the company’s sustainability reporting.

    Amendments to the Articles of Association
    It was resolved to amend the company’s Articles of Association in accordance with the proposal set out in the notice convening the meeting dated 2 June 2025.

    Changes to the Executive Board
    At the subsequent Board meeting, the Board of Directors appointed Søren Kviesgaard and Dan Erik Krarup Sørensen to the company’s Executive Board, while Lasse Nyby and John Lundsgaard resigned from the Executive Board. The Executive Board also consists of Martin Kudsk Rasmussen and Carsten Levring Jakobsen.

    Søren Kviesgaard holds an MSc (Business Administration and Auditing) from Aarhus School of Business and is a state-authorized public accountant. He joined the Nykredit Group in 2016 from a position as partner at PwC and has since held the position of Executive Vice President of Corporates & Institutions. He was previously Senior Executive Director of FIH Erhvervsbank. Søren has been a member of the Executive Board of Nykredit Bank A/S since 2023.

    Dan Erik Krarup Sørensen holds a PhD in Mathematics from the Technical University of Denmark and a Graduate Diploma in Finance from Copenhagen Business School. He joined the Nykredit Group in 1997 from a position as assistant professor of mathematics at the Technical University of Denmark and has, among other positions, been Vice Executive Director with responsibility for risk management, capital and regulatory affairs. Dan has been a member of the Executive Board of Nykredit Bank A/S since 2015.

    Spar Nord
    Martin Bach
    SVP Corporate Communication

    Attachment

    The MIL Network –

  • MIL-OSI: Proceedings of the extraordinary general meeting of Spar Nord Bank A/S

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 22

            

    Proceedings of the extraordinary general meeting of Spar Nord Bank A/S and changes to the Executive Board

    At the extraordinary general meeting held on 24 June 2025, the following resolutions were passed:

    • Election of members to the Board of Directors
    • Dismissal of the auditor and election of a new auditor
    • Amendments to the Articles of Association

    Election of members to the Board of Directors
    All existing members of the Board of Directors elected by the general meeting resigned from the Board of Directors. Michael Rasmussen, Anders Jensen, Tonny Thierry Andersen, Pernille Sindby, and David Hellemann were elected as new members of the Board of Directors. The Board of Directors also consists of the following employee representatives: Jannie Merete Thorsø Skovsen, Gitte Holmgaard Sørensen, and Rikke Marie Jacobsen Christiansen.

    At the subsequent Board meeting, the Board of Directors constituted itself with Michael Rasmussen as Chairman and Anders Jensen as Vice Chairman.

    Removal of the auditor and election of a new auditor
    It was resolved to remove the company’s auditor, Deloitte Statsautoriseret Revisionspartnerselskab, and EY Godkendt Revisionspartnerselskab was elected as the new auditor to audit the company’s annual financial statements and to issue a statement on the company’s sustainability reporting.

    Amendments to the Articles of Association
    It was resolved to amend the company’s Articles of Association in accordance with the proposal set out in the notice convening the meeting dated 2 June 2025.

    Changes to the Executive Board
    At the subsequent Board meeting, the Board of Directors appointed Søren Kviesgaard and Dan Erik Krarup Sørensen to the company’s Executive Board, while Lasse Nyby and John Lundsgaard resigned from the Executive Board. The Executive Board also consists of Martin Kudsk Rasmussen and Carsten Levring Jakobsen.

    Søren Kviesgaard holds an MSc (Business Administration and Auditing) from Aarhus School of Business and is a state-authorized public accountant. He joined the Nykredit Group in 2016 from a position as partner at PwC and has since held the position of Executive Vice President of Corporates & Institutions. He was previously Senior Executive Director of FIH Erhvervsbank. Søren has been a member of the Executive Board of Nykredit Bank A/S since 2023.

    Dan Erik Krarup Sørensen holds a PhD in Mathematics from the Technical University of Denmark and a Graduate Diploma in Finance from Copenhagen Business School. He joined the Nykredit Group in 1997 from a position as assistant professor of mathematics at the Technical University of Denmark and has, among other positions, been Vice Executive Director with responsibility for risk management, capital and regulatory affairs. Dan has been a member of the Executive Board of Nykredit Bank A/S since 2015.

    Spar Nord
    Martin Bach
    SVP Corporate Communication

    Attachment

    The MIL Network –