NewzIntel.com

Category: Business

  • MIL-OSI Russia: 35 new “life situations” will appear on the government services portal by the end of the year.

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    Priority services “life situations” were approved at a meeting of the subcommittee on improving the quality of public services under the leadership of Deputy Prime Minister – Head of the Government Staff Dmitry Grigorenko. They will become available on the public services portal within a year.

    In total, 35 new “life situations” will appear in 2025 for both citizens and businesses. These are services for solving such issues as planning and having a child, formalizing guardianship and trusteeship, organizing children’s leisure and separately – organizing children’s recreation, caring for pets, entering college and technical school, the desire to become a volunteer, applying for a tax deduction, launching an IT company, undergoing a medical examination, supporting Russian citizens abroad and such difficult situations as the loss of a loved one, disability.

    The list of “life situations” was formed on the basis of feedback from citizens, the results of the analysis of the quality of services provided, as well as research conducted in user testing laboratories.

    With the help of the “life situations” services for citizens and businesses, the time it takes to receive government services, the number of visits to departments and documents that need to be provided are reduced. The concept is based on the unification of services to solve a specific issue of a person, when he does not have to receive all the services separately and look for where to go, and all the necessary services and reference information are collected in one place, on a special page of this “life situation” on the government services portal.

    “The “life situations” services are a new stage in the evolution of public services. Once upon a time, people stood in lines at various departments, then it became possible to receive public services online. At the next stage, the state offered citizens to apply for services through a “single window” – at the MFC with paper applications and to “Gosuslugi” via the Internet. Now there are more than 1.6 thousand such services and services on the portal. To make it easier to navigate them, we are combining them according to the “life situations” principle – citizens solve their problems comprehensively, quickly and in one place,” said Dmitry Grigorenko.

    At the federal level, the “life situations” services are being implemented since 2023. Currently, 35 of them have been implemented. With the federal “life situations” services planned for launch, there will be 70 of them by the end of 2025.

    Thanks to federal services, “life situations” on average:

    The time to receive government services has been reduced by 35% (from 102 to 66 days); the number of required documents has been reduced by 29% (from 28 to 20 units); the need to visit departments has been reduced by 64% (from 14 to 5 visits).

    At the same time, some “life situations” are available entirely online. Since 2024, regional “life situations” services have also been implemented. More than 150 of them have been launched so far. Work on implementing “life situations” services is being carried out within the framework of the federal project “State for People”.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: Insurance license revoked from SK KHATKHOR LLC (10.07.2025)

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    By order No. OD-1469 dated 10.07.2025, the Bank of Russia revoked the license dated 28.12.2023 OS No. 4404-03 for the implementation of compulsory motor third party liability insurance (MTPL) of the limited liability company INSURANCE COMPANY HATHOR (registration number according to the unified state register of insurance entities 4404, hereinafter referred to as SK HATHOR LLC).

    The Bank of Russia made this decision on the basis of subparagraph 3 of paragraph 2 of Article 32.8 of Law No. 4015-1 of the Law of the Russian Federation of 27.11.1992 “On the Organization of Insurance Business in the Russian Federation” (hereinafter referred to as Law No. 4015-1), guided by the fact that SK KHATKHOR LLC:

    violated the minimum permissible value of the standard ratio of own funds (capital) and accepted liabilities established by the Bank of Russia in accordance with paragraph 4.1 of Article 25 of Law No. 4015-1, which creates a threat to the rights and legitimate interests of policyholders, insured persons, and beneficiaries. In order to comply with the requirements of the financial stability of the insurer, the minimum permissible value of the standard ratio is 1. The value of the standard ratio of SK KHATKHOR LLC has been steadily decreasing in 2025 from 0.75 on 31.01.2025 to 0.31 on 31.05.2025; previously violated the requirements of insurance legislation, in connection with which the Bank of Russia applied to it for one year the measures provided for in the third paragraph of subparagraph 2 of paragraph 2 of Article 32.5-1 of Law No. 4015-1.

    The decision came into force on the day of its adoption.

    By order of the Bank of Russia dated 10.07.2025 No. OD-1470, a temporary administration of SK KHATKHOR LLC was appointed from 10.07.2025 for a period of six months.

    The functions of the temporary administration are assigned to the State Corporation “Deposit Insurance Agency”, which exercises the powers of the executive bodies of LLC “SK “KHATKHOR”, identifies creditors of LLC “SK “KHATKHOR” and maintains a list of submitted claims.

    After the revocation of the license of SK KHATKHOR LLC, the MTPL contracts continue to be valid until their expiration.

    Compensation payments for damage caused to the life, health or property of the victim under the OSAGO contracts of LLC “SK “KHATKHOR” will be carried out by the Russian Union of Auto Insurers (RSA). Information on the implementation of compensation payments can be found on the official website of the RSABBV. Autoins.ru, section “Compensation payments”.

    In connection with the revocation of the license of LLC “SK “KHATKHOR”, policyholders have the right to terminate the MTPL agreement early. In this case, the policyholder must be returned a portion of the insurance premium minus the costs of implementing MTPL and deductions to the reserve for compensation payments, in the amount of the share attributable to the unexpired term of the agreement or the unexpired period of use of the vehicle.

    For early termination of the MTPL agreement, as well as other issues related to the activities of LLC “SK “KHATKHOR”, please contact the following address: 283001, Donetsk People’s Republic, Donetsk city district, Donetsk city, Ilyicha ave., 3.

    When using the material, a link to the Press Service of the Bank of Russia is required.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese and Turkish freight carriers launch regular express trains from Southwest China to Europe

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    CHONGQING, July 10 (Xinhua) — An express train loaded with telecommunications equipment, auto parts and other goods departed from the southwest Chinese metropolis of Chongqing on the China-Europe international rail freight route at around 12 p.m. on Wednesday, marking the start of regular freight express service on the route.

    The new services are said to be a new logistics product jointly developed by Chongqing-based supply chain management company Yuxinou and Turkish company Pacific Global Logistics.

    The train will cross the border at the Khorgos checkpoint in Northwest China’s Xinjiang Uyghur Autonomous Region, pass through Azerbaijan and Georgia, and eventually reach Turkey and then European cities.

    Regular operation of such an express will reduce the time for delivery of goods from Chongqing to Europe via the Middle Corridor /Trans-Caspian International Transport Route/ to 25-30 days, which is at least ten days faster than the traditional method, said the chairman of the board of the above-mentioned Turkish company, Askar Sadik.

    On the same day, a project was also signed to transform Chongqing into an international procurement hub along the Middle Corridor, establish a cooperation network for enterprises in the fields of trade, industrial chains and supply chains in Eurasia, and establish a mechanism for their regular dialogue. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Breaking: China Considering Deepening Cooperation with Egypt under Belt and Road Initiative – Li Qiang

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    CAIRO, July 10 (Xinhua) — China is willing to strengthen cooperation with Egypt under the Belt and Road Initiative in areas including economy, trade, finance, manufacturing, new energy, science and technology, as well as cultural and people-to-people exchanges, Chinese Premier Li Qiang said here on Thursday during a meeting with Egyptian President Abdel Fattah el-Sisi.

    China is ready to encourage more competitive Chinese companies to invest in Egypt’s economy, he added. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Mongolia’s annual inflation rate reached 8.2 percent in June 2025

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    ULAN BATOR, July 10 (Xinhua) — Mongolia’s annual inflation rate reached 8.2 percent in June 2025, the country’s National Statistical Committee said on Thursday.

    This indicator was directly affected by the increase in prices for imported goods and socially significant food products, the official statement says.

    Currently, the Central Bank of Mongolia is working to maintain the inflation rate within 5 percent (plus or minus 2 percentage points) in order to ensure macroeconomic and financial stability in the medium term.

    According to the Central Bank, in May 2025, annual inflation in Mongolia was 8.3 percent. At the same time, in the capital Ulaanbaatar, where more than half of the country’s population lives, this figure rose to 9.4 percent. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI Africa: Afreximbank President Launches New Edition of Structured Trade Finance Book at 32nd Annual Meetings

    Source: APO

    African Export-Import Bank (Afreximbank) (www.Afreximbank.com) launched the second edition of Foundations and Evolution of Structured Trade Finance, a landmark publication on a specialised field of trade finance shaped by decades of real-world application.

    Authored by Professor Benedict O. Oramah, President and Chairman of the Board of Directors of Afreximbank and a pivotal figure in the development of Structured Trade Finance (STF), the book provides a practical, step-by-step guide to structuring trade finance transactions. It delves into real-world case studies, explores risks and the theoretical foundations of STF, and broadens its scope beyond commodities to address a wide range of trade scenarios.

    The updated edition introduces dedicated chapters on reserve-based lending, supply chain finance, and the use of emerging technologies in structured trade finance. These additions make the book particularly relevant in today’s complex and increasingly risk-sensitive global regulatory environment.

    Speaking at the book launch and signing event held during the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, Professor Oramah reflected on the significant progress made in trade finance since the early 1990s.

    “When I joined Afreximbank in 1994 the world was still grappling with a severe sovereign debt crisis, and structured trade finance was just beginning to emerge as a tool for financing trade in challenging markets.

    “As Afreximbank began operations in 1994, we embraced structured trade finance for its ability to mitigate risk. At its core, structured trade finance enables practitioners to be innovative, as its fundamental principle allows for the transfer of risks from parties who are less able to bear them to those who are more capable of absorbing shocks,” said Professor Oramah.

    The first edition of the book highlighted trade finance structures that largely supported North-South trade—an approach that contributed to trade diversion, with businesses often favouring extra-African over intra-African trade due to more accessible financing.

    Today, global trade dynamics have shifted dramatically. South-South trade now dominates, with Africa’s trade with other developing countries rising from approximately 23% of its total trade in 1995 to an estimated 68% in 2024. Over the same period, Africa’s trade with advanced economies has declined to less than 50%.

    Structured Trade Finance has played a transformative role in reversing Africa’s trend of de-industrialisation. By extending beyond commodity-based structures, STF has supported the emergence of African manufacturing hubs, fostered regional and domestic value chains, and enabled the growth of small and medium-sized enterprises. Afreximbank continues to build the continent’s economic future on this foundation of innovation and resilience.

    The second edition of Foundations and Evolution of Structured Trade Finance is now available via Globe Law and Business (www.GlobeLawAndBusiness.com), Amazon, and major retailers including Blackwell’s, Waterstones, Wildy’s, Baker & Taylor, and Gardners.

    Distributed by APO Group on behalf of Afreximbank.

    Media Contact:
    Vincent Musumba
    Communications and Events Manager (Media Relations)
    Email: press@afreximbank.com

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    About Afreximbank:
    African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

    For more information, visit: www.Afreximbank.com

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Economics: Financial Action Task Force (FATF) High risk and other monitored jurisdictions – June 12-13, 2025

    Source: Reserve Bank of India

    The Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – 13 June 2025, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action in the October 2022 FATF plenary and FATF has called on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar. When applying enhanced due diligence measures, countries have been advised to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted. The status of Myanmar in the list of countries subject to a call for action, remains unchanged.

    FATF had earlier identified the following jurisdictions as having strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing and had placed the jurisdictions under Increased Monitoring, which had developed action plan with the FATF to deal with them. These jurisdictions were: Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Côte d’Ivoire, Croatia, Democratic Republic of the Congo, Haiti, Kenya, Lao People’s Democratic Republic (Lao PDR), Lebanon, Mali, Monaco, Mozambique, Namibia, Nepal, Nigeria, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam and Yemen. As per the June 13, 2025 FATF public statement, Bolivia and the Virgin Islands (UK) have been added to the list of Jurisdictions under Increased Monitoring while Croatia, Mali and Tanzania have been removed from this list based on review by the FATF.

    FATF plenary releases documents titled “High-Risk jurisdictions subject to a Call for Action” and “Jurisdictions under Increased Monitoring” with respect to jurisdictions that have strategic AML/CFT deficiencies as part of the ongoing efforts to identify and work with jurisdictions with strategic Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) deficiencies. This advice does not preclude the regulated entities from legitimate trade and business transactions with these countries and jurisdictions mentioned there.

    The detailed information is available in the updated public statements and document released by FATF on June 13, 2025. The statements and document can be accessed at the following URL:

    1. https://www.fatf-gafi.org/en/publications/Fatfgeneral/outcomes-FATF-MONEYVAL-plenary-june-2025.html

    2. https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/increased-monitoring-june-2025.html

    3. https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Call-for-action-june-2025.html

    About FATF

    The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. The FATF’s decision making body, the FATF Plenary, meets three times a year and updates these statements, which may be noted.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/686

    MIL OSI Economics –

  • MIL-OSI Economics: Financial Action Task Force (FATF) High risk and other monitored jurisdictions – June 12-13, 2025

    Source: Reserve Bank of India

    The Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – 13 June 2025, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action in the October 2022 FATF plenary and FATF has called on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar. When applying enhanced due diligence measures, countries have been advised to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted. The status of Myanmar in the list of countries subject to a call for action, remains unchanged.

    FATF had earlier identified the following jurisdictions as having strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing and had placed the jurisdictions under Increased Monitoring, which had developed action plan with the FATF to deal with them. These jurisdictions were: Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Côte d’Ivoire, Croatia, Democratic Republic of the Congo, Haiti, Kenya, Lao People’s Democratic Republic (Lao PDR), Lebanon, Mali, Monaco, Mozambique, Namibia, Nepal, Nigeria, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam and Yemen. As per the June 13, 2025 FATF public statement, Bolivia and the Virgin Islands (UK) have been added to the list of Jurisdictions under Increased Monitoring while Croatia, Mali and Tanzania have been removed from this list based on review by the FATF.

    FATF plenary releases documents titled “High-Risk jurisdictions subject to a Call for Action” and “Jurisdictions under Increased Monitoring” with respect to jurisdictions that have strategic AML/CFT deficiencies as part of the ongoing efforts to identify and work with jurisdictions with strategic Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) deficiencies. This advice does not preclude the regulated entities from legitimate trade and business transactions with these countries and jurisdictions mentioned there.

    The detailed information is available in the updated public statements and document released by FATF on June 13, 2025. The statements and document can be accessed at the following URL:

    1. https://www.fatf-gafi.org/en/publications/Fatfgeneral/outcomes-FATF-MONEYVAL-plenary-june-2025.html

    2. https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/increased-monitoring-june-2025.html

    3. https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Call-for-action-june-2025.html

    About FATF

    The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. The FATF’s decision making body, the FATF Plenary, meets three times a year and updates these statements, which may be noted.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/686

    MIL OSI Economics –

  • MIL-OSI NGOs: USA: Sanctions against UN Special Rapporteur Francesca Albanese are a disgraceful affront to international justice

    Source: Amnesty International –

    In response to US Secretary of State Marco Rubio announcing sanctions against the UN Special Rapporteur on the Occupied Palestinian Territory, Francesca Albanese, Amnesty International’s Secretary General Agnès Callamard said:

    “This is a shameless and transparent attack on the fundamental principles of international justice. Special Rapporteurs are not appointed to please governments or to be popular but to deliver their mandate. Francesca Albanese’s mandate is to advocate for human rights and international law, essential at a time when the very survival of Palestinians in the occupied Gaza Strip is at stake. These sanctions come just days after she published a new report detailing how companies have profited from Israel’s illegal occupation, its brutal system of apartheid and its ongoing genocide in Gaza.

    This is a shameless and transparent attack on the fundamental principles of international justice.

    Amnesty International’s Secretary General Agnès Callamard

    “Following the recent sanctions against the International Criminal Court, the measures announced today are a continuation of the Trump administration’s assault on international law and its efforts to protect the Israeli government from accountability at all costs. They are the latest in a series of Trump administration policies seeking to intimidate and silence those that dare speak out for Palestinians’ human rights. Instead of attacking the Special Rapporteur and further undermining the rule-based order, the US government should focus on putting an end to its unconditional support to Israel, enabling total impunity for its crimes in the Occupied Palestinian Territory.

    “States must forcefully reject these disgraceful, vindictive sanctions and exert maximum diplomatic pressure on the US government to reverse them. The United Nations must also fully support her as an independent UN expert appointed by the UN Human Rights Council. Governments around the world and all actors who believe in the rule-based order and international law must do everything in their power to mitigate and block the effect of the sanctions against Francesca Albanese and more generally to protect the work and independence of Special Rapporteurs.”

    MIL OSI NGO –

  • MIL-OSI USA: FEMA, SBA and the State of Texas to Open Disaster Recovery Center in Kerrville

    Source: US Federal Emergency Management Agency

    Headline: FEMA, SBA and the State of Texas to Open Disaster Recovery Center in Kerrville

    FEMA, SBA and the State of Texas to Open Disaster Recovery Center in Kerrville

    AUSTIN, Texas – In coordination with the Texas Division of Emergency Management (TDEM), FEMA and U

    S

    Small Business Administration (SBA) staff will open a Disaster Recovery Center (DRC) tomorrow, July 10 to offer face-to-face help to survivors affected by the severe storms, straight-line winds and flooding that began July 2

     Homeowners, renters and eligible non-residents in Kerr County may receive FEMA assistance for losses not covered by insurance

    FEMA and SBA will support state-led efforts at the recovery centers to help survivors apply for disaster assistance

    They can also identify potential needs and connect survivors with local, state and federal agencies, as well as nonprofits and community groups

     The DRC will be open from 8 a

    m

    to 7 p

    m

    daily

    Kerr CountyFirst Baptist Church625 Washington StKerrville, TX 78028Survivors can visit any open center to meet with representatives of FEMA, the state of Texas and the SBA

    No appointment is needed

    All centers are accessible to people with disabilities or access and functional needs and are equipped with assistive technology

    If you need a reasonable accommodation or sign language interpreter, please call 833-285-7448 (press 2 for Spanish)

    Additional locations may be added

    FEMA staff are easily recognizable by their official photo identification (ID)

    If you meet people offering assistance, first ask to see their ID before giving them your personal information

    They may have FEMA clothing, but that can be easily imitated

     FEMA staff can help in several ways including:Checking the status of an application already in the system and making minor changes to applications

    Contacting faith-based organizations, community groups, private sector businesses and public libraries that may have the capability to distribute disaster-related information to residents in the impacted counties

    Identifying organizations providing disaster-related services and/or resources to the public for long-term recovery

    Gathering information about impacts to communities

    Providing flyers explaining how to apply for disaster assistance

    Survivors with homeowners or renters’ insurance, should first file a claim with their insurance company as soon as possible

    If your policy does not cover all your damage expenses, you may then be eligible for federal assistance

    SBA’s Customer Service Representatives are available at the centers to answer questions, assist business owners complete their disaster loan application, accept documents, and provide updates on an application’s status

    For information and to apply online visit SBA

    gov/disaster

     Applicants may also call the SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba

    gov for more information on SBA disaster assistance

    For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services

    Survivors can apply to FEMA in several ways including going online to DisasterAssistance

    gov, which is the fastest method, downloading the FEMA App for mobile devices or calling the FEMA Helpline at 800-621-3362

    Calls are accepted every day from 6 a

    m

    to 10 p

    m

    CT

    Help is available in most languages

     If you use a relay service, such as video relay (VRS), captioned telephone or other service, give FEMA the number for that service

    To view an accessible video about how to apply visit: Three Ways to Register for FEMA Disaster Assistance – YouTube

    For the latest information about Texas’ recovery, visit fema

    gov/disaster/4879

    Follow FEMA Region 6 on social media at x

    com/FEMARegion6 and at facebook

    com/FEMARegion6
    toan

    nguyen
    Wed, 07/09/2025 – 19:00

    MIL OSI USA News –

  • MIL-OSI USA: FEMA, SBA and the State of Texas to Open Disaster Recovery Center in Kerrville

    Source: US Federal Emergency Management Agency

    Headline: FEMA, SBA and the State of Texas to Open Disaster Recovery Center in Kerrville

    FEMA, SBA and the State of Texas to Open Disaster Recovery Center in Kerrville

    AUSTIN, Texas – In coordination with the Texas Division of Emergency Management (TDEM), FEMA and U

    S

    Small Business Administration (SBA) staff will open a Disaster Recovery Center (DRC) tomorrow, July 10 to offer face-to-face help to survivors affected by the severe storms, straight-line winds and flooding that began July 2

     Homeowners, renters and eligible non-residents in Kerr County may receive FEMA assistance for losses not covered by insurance

    FEMA and SBA will support state-led efforts at the recovery centers to help survivors apply for disaster assistance

    They can also identify potential needs and connect survivors with local, state and federal agencies, as well as nonprofits and community groups

     The DRC will be open from 8 a

    m

    to 7 p

    m

    daily

    Kerr CountyFirst Baptist Church625 Washington StKerrville, TX 78028Survivors can visit any open center to meet with representatives of FEMA, the state of Texas and the SBA

    No appointment is needed

    All centers are accessible to people with disabilities or access and functional needs and are equipped with assistive technology

    If you need a reasonable accommodation or sign language interpreter, please call 833-285-7448 (press 2 for Spanish)

    Additional locations may be added

    FEMA staff are easily recognizable by their official photo identification (ID)

    If you meet people offering assistance, first ask to see their ID before giving them your personal information

    They may have FEMA clothing, but that can be easily imitated

     FEMA staff can help in several ways including:Checking the status of an application already in the system and making minor changes to applications

    Contacting faith-based organizations, community groups, private sector businesses and public libraries that may have the capability to distribute disaster-related information to residents in the impacted counties

    Identifying organizations providing disaster-related services and/or resources to the public for long-term recovery

    Gathering information about impacts to communities

    Providing flyers explaining how to apply for disaster assistance

    Survivors with homeowners or renters’ insurance, should first file a claim with their insurance company as soon as possible

    If your policy does not cover all your damage expenses, you may then be eligible for federal assistance

    SBA’s Customer Service Representatives are available at the centers to answer questions, assist business owners complete their disaster loan application, accept documents, and provide updates on an application’s status

    For information and to apply online visit SBA

    gov/disaster

     Applicants may also call the SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba

    gov for more information on SBA disaster assistance

    For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services

    Survivors can apply to FEMA in several ways including going online to DisasterAssistance

    gov, which is the fastest method, downloading the FEMA App for mobile devices or calling the FEMA Helpline at 800-621-3362

    Calls are accepted every day from 6 a

    m

    to 10 p

    m

    CT

    Help is available in most languages

     If you use a relay service, such as video relay (VRS), captioned telephone or other service, give FEMA the number for that service

    To view an accessible video about how to apply visit: Three Ways to Register for FEMA Disaster Assistance – YouTube

    For the latest information about Texas’ recovery, visit fema

    gov/disaster/4879

    Follow FEMA Region 6 on social media at x

    com/FEMARegion6 and at facebook

    com/FEMARegion6
    toan

    nguyen
    Wed, 07/09/2025 – 19:00

    MIL OSI USA News –

  • MIL-OSI Europe: Written question – Labour market inclusion of persons with disabilities in Italy and application of Directive 2000/78/EC – E-002694/2025

    Source: European Parliament

    Question for written answer  E-002694/2025
    to the Commission
    Rule 144
    Valentina Palmisano (The Left)

    According to the XXVI CNEL Report on the Labour Market (2023) in Italy, only 33 % of people with disabilities of working age are in employment, compared to 62 % of the general population. The gap is even more pronounced among women and young people with disabilities, who experience multiple forms of exclusion. Although Directive 2000/78/EC lays down clear obligations for employers, particularly regarding the introduction of ‘reasonable accommodation’, many Italian companies continue to offer jobs that are clearly inaccessible to the disabled (e.g. crane operators, welders, lift technicians), thereby undermining the principle of equal opportunities.

    Besides this, Italian Law 68/1999, which sets mandatory recruitment quotas for persons with disabilities, is often circumvented through legal loopholes and fictitious offers of employment. Collective agreements rarely contain inclusion clauses and lack effective monitoring and sanction mechanisms.

    In the light of the above, can the Commission answer the following questions:

    • 1.Does it consider that Italy is fully complying with the obligations laid down in Directive 2000/78/EC on employment and disability?
    • 2.Will it launch new checks on compliance with the obligation on reasonable accommodation and effective inclusion in the labour market?
    • 3.Is it contemplating a reinforcement of the conditions for access to European funds linked to the adoption of inclusive practices?

    Submitted: 2.7.2025

    Last updated: 10 July 2025

    MIL OSI Europe News –

  • MIL-OSI USA: Office of the Governor – News Release – Gov. Green Signs Bills to Tackle Housing Bottlenecks and Fund Nonprofits

    Source: US State of Hawaii

    Governor Josh Green, M.D., today concluded the bill signing season by holding the final two bill signing ceremonies, which highlighted measures focused on addressing some of Hawai‘i’s most pervasive challenges. The newly enacted laws focus on providing effective remediation for claims of construction defects and delivering essential funding to support critical nonprofit organizations impacted by federal funding reductions.

    “Today represents the full scope of what policymaking is all about,” said Governor Green. “Sometimes, it takes many sessions to pass legislation and show foresight for long-term change. Other times, it is about the flexibility to pivot quickly when urgent challenges arise. Signing these two bills reflect both ends of that spectrum and truly demonstrates the best of what this bill signing period stands for.”

    HB 420: RELATING TO REMEDIES

    A recent UHERO report indicates a surge in litigation related to construction defect claims, which has resulted in costly and time-consuming delays of housing projects across the state. These delays, in turn, leave many awaiting construction in limbo and drive up the cost of housing, all of which have major implications throughout the state’s housing pipeline. House Bill 420 (Act 308) amends the Contractor Repair Act and Statute of Repose to address the exploitative litigation practices currently hindering Hawai‘i’s housing market.

    “This bill is a couple years in the making, and today’s signing marks a step toward removing roadblocks for affordable, accessible housing in Hawai‘i,” said Governor Green. “HB 420 is a solution-based measure that tackles one of many contributing factors to our rising cost of living in the islands. It supports a broad range of stakeholders across the housing market, helping to move projects forward and bring real relief to our communities.”

    HB 420 aims to streamline and improve the efficiency of the Hawai‘i Contractor Repair Act for its proper utilization in lieu of litigation. Amendments to the act provide defined timelines and processes related to the notice of claims between claimants and contractors, including the acceptance or rejection of contractor’s offer of settlement or authorized repair. To support prompt repair and remediation, the measure establishes standardized requirements that must be included in a construction of defect claim to ensure contractors are given sufficient evidence to address the matter.

    The bill further establishes clear timelines regarding inspections, testing, and mediation to provide homeowners and contractors with a comprehensive roadmap for remedies.

    Together with these procedural improvements, the bill includes provision to deter unnecessary litigation through clarifying the statute of repose and limitation periods. HB 420 clarifies the applicability of the 10-year statute of repose, which applies to all actions, including contracts, torts or statutory claims. Pre-filing of a lawsuit is not to occur more than six months before the litigation or repose period ends.

    “HB 420 is a meaningful step forward for Hawai‘i’s communities because it helps with the process of getting homes repaired and built faster, without getting caught up in long, costly lawsuits,” said Senator Jarrett Keohokālole (Senate District 24 – Kāne‘ohe, Kailua), who chairs the Senate Commerce and Consumer Protection Committee. “By encouraging builders and homeowners to work together early on, this law protects families from unnecessary delays and high costs, helping to make housing more affordable and accessible for everyone across the islands.”

    “HB 420 is about restoring balance and fairness to the construction defect process,” said Representative Lisa Marten. “For too long, certain legal strategies have delayed critical repairs and driven up costs. This bill strengthens protections for both homeowners and builders by requiring a good-faith opportunity to inspect and repair before litigation begins. It’s a practical fix that helps move housing projects forward and ensures we’re not putting unnecessary barriers in the way of affordable housing in Hawai‘i.”

    “We sincerely thank Governor Josh Green for signing HB 420 into law. This legislation brings critical reform to the Contractor Repair Act by prioritizing cooperation and timely resolution over costly and prolonged litigation,” said D.R. Horton Hawai‘i Division President Tracy Tonaki on behalf of Housing No Kākou. “HB 420 strengthens consumer protections by prioritizing cooperation before litigation so that we can collectively preserve access to essential government backed loan programs, ensure legitimate repairs are made in a timely manner and continue to build much needed housing for Hawai‘i’s families.”

    SB 933: RELATING TO THE STATE BUDGET

    Senate Bill 933 (Act 310) serves as a targeted measure to support Hawai‘i’s nonprofit sector. Due to the federal funding freeze, many valuable nonprofits that provide essential community services, including child care, housing services, and healthcare, will be adversely affected and face significant reductions in funding.

    To help offset these losses, SB 933 appropriates $50 million for fiscal year 2026 to fund  grants-in-aid for non-profit organizations across Hawai‘i. The Office of Community Services, within the Department of Labor and Industrial Relations, will oversee the selection and distribution of these grant awards.

    “It is not fair that organizations dedicated to supporting the people of Hawai‘i are being forced to scale back due to federal funding cuts,” said Governor Green. “This state funding is a critical lifeline — not just for the nonprofits themselves, but for the individuals and families who depend on the essential services they provide everyday. We are stepping in to ensure our communities do not lose access to the care and support they need.”

    A selection committee will be established to evaluate applications from non-profit organizations that demonstrate a termination or reduction of funding, or whose beneficiaries have been adversely impacted by the changes in federal funding.

    To carry out the provision of the bill and to assist with the distribution of grants, the measure establishes temporary full-time positions within the Office of Community Services. Through this measure, the Office of Community Service authorizes the to contract the services of Aloha United Way, Inc. to provide administrative support and assist in the distribution of grant awards.

    “This investment is more than just funding—it’s a vote of confidence in Hawai‘i’s nonprofit sector” said Michelle Bartell, President & CEO, Aloha United Way. “We’re grateful to the State Legislature for acting swiftly and to HANO for their tireless advocacy. Together, we’re helping ensure essential services remain strong and responsive for those who rely on them every day.”

    “Senate Bill 933 is a timely and targeted response to protect the nonprofits that form the backbone of our communities,” said Senator Troy Hashimoto (Senate District 5 – Wailuku, Kahului, Waihe‘e, Waikapu Mauka, Wai‘ehu). “As federal funding declines, it’s our responsibility to make sure that vital services like childcare, housing and healthcare continue to be accessible to those who need them the most. This law helps keep critical support systems intact for Hawai‘i’s families.”

    “We recognize the vital role that nonprofit organizations play in the health and resilience of our communities in Hawai‘i,” said Representative Daniel Holt. “SB 933 responds to an urgent need, ensuring essential services like childcare, housing, and healthcare remain accessible despite federal funding cuts. This measure reflects our collective commitment to mālama our communities and support those who serve them every day.”

    The complete list of bills signed include the following. Click the link to see full details of the bill enacted into law.

    HB 431 (ACT 309) RELATING TO HOUSING

    Video of the bill signing can be seen here and here.
    Photos of the bill signing ceremony, courtesy Office of the Governor, will be uploaded here.

    MIL OSI USA News –

  • MIL-OSI: CLEAR to Provide Discounted TSA PreCheck® for Military Families

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 10, 2025 (GLOBE NEWSWIRE) — CLEAR (NYSE: YOU), an official TSA PreCheck® enrollment provider, is participating in the Transportation Security Administration’s (TSA) Serve with Honor, Travel with Ease initiative to provide discounted TSA PreCheck enrollment fees for military spouses and free enrollment for family members of service members who died in the line of duty or as a result of service-connected injury or illness–referred to as Gold Star families.

    A $25 enrollment discount will be applied for spouses of currently serving uniformed service members—recognizing the frequent travel burdens tied to military life. Additionally, Gold Star families will receive free TSA PreCheck–a tribute to those who have lost loved ones in military service.

    “At CLEAR, we believe in showing up for people who show up for all of us,” said Caryn Seidman Becker, CEO of CLEAR. “We’re proud to support the TSA’s Serve with Honor, Travel with Ease initiative by making it easier for military families to access the benefits of TSA PreCheck. Whether it’s a military spouse managing multiple moves or a Gold Star family traveling in memory of a loved one, we’re honored to make predictable travel more accessible for military families.”

    Additionally, CLEAR is bringing mobile enrollment units to major military installations, reducing travel burdens for eligible families. This effort ensures that enrollment is as accessible as possible, especially for families living on or near military bases.

    TSA PreCheck members benefit from the convenience of keeping shoes, belts and light jackets on through the airport security checkpoint and keeping laptops and 3-1-1 compliant liquids in carry-on bags.

    New TSA PreCheck applicants can pre-enroll or find an enrollment location by visiting CLEAR’s authorized TSA PreCheck website, https://tsaprecheckbyclear.tsa.dhs.gov/. Most existing TSA PreCheck members can renew directly on the website, regardless of the provider they enrolled with originally.

    Uniformed Service members and civilian U.S. Department of Defense (DOD) personnel will still continue to be eligible for free TSA PreCheck screening benefits by using their DOD ID as their Known Traveler Number.

    About TSA PreCheck®        
    TSA PreCheck is a Department of Homeland Security (DHS) Trusted Traveler program that allows enrolled travelers expedited screening through airport security. TSA PreCheck lanes are located at over 200 airports with over 90 airlines participating. Since TSA first launched the TSA PreCheck application program as a DHS Trusted Traveler Program for low-risk travelers in December 2013, active membership in the program has grown to more than 22 million members.

    About CLEAR
    CLEAR’s mission is to strengthen security and create frictionless experiences. With over 31 million Members and a growing network of partners across the world, CLEAR’s identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell Member data. For more information, visit clearme.com.

    Forward-Looking Statements
    This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any and such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including those described in the Company’s filings within the Securities and Exchange Commission, including the sections titled “Risk Factors” in our Annual Report on Form 10- K. The Company disclaims any obligation to update any forward-looking statements contained herein.

    CLEAR
    media@clearme.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: Codere Improves Position in Spain’s Brand Finance Ranking

    Source: GlobeNewswire (MIL-OSI)

    Madrid, Spain, July 10, 2025 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, today announced that the Codere brand1 has improved its position to 77th, up from 85th in 2024, in a ranking of Spain’s most valuable brands, according to Brand Finance.

    Codere remains the only gaming brand on the list, marking its leadership in the sector, and maintains its record of consistently being named on the Top 100 list since 2010, putting it alongside household names such as Zara, Vueling and Movistar as titans in Spanish business.

    The last year has seen Codere Online continue to expand in its core markets of Spain and Mexico, as well as leverage partnerships with footballing giants Real Madrid and C.F. Monterrey to further boost its brand awareness, including activations around the FIFA Club World Cup.

    Alberto Telias, Chief Marketing Officer of Codere Online, said: “Our marketing and sponsorship efforts over the last 12 months have been reflected in the consolidation of our status as a market leading brand in Spain. We’re proud of the experiences we offer our customers, that truly allow them to connect with the Codere brand.”

    Codere Online started operations in Spain in 2014. In the twelve months ended March 31, 2025, the Company generated more than 87 million euros of net gaming revenue in Spain, with more than 50,000 average monthly active players in the country.

    About Codere Online
    Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina. Codere Online’s online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.

    About Codere Group
    Codere Group is a multinational group devoted to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).

    Contacts:

    Investors and Media
    Guillermo Lancha
    Director, Investor Relations and Communications
    Guillermo.Lancha@codere.com
    (+34) 628 928 152

    1 Pursuant to the terms of a relationship and license agreement, Codere Group granted Codere Online a license to use certain “Codere” trademarks.

    The MIL Network –

  • MIL-OSI: How Ethereum’s Newest PayFi Solution ‘Remittix’ Is Rapidly Dominating The Payments & Presale Arena… Simultaneously!

    Source: GlobeNewswire (MIL-OSI)

    KOŠICE, Slovakia, July 10, 2025 (GLOBE NEWSWIRE) — Ethereum remains the top smart contract platform, currently at $2,561.97 with a market cap of $309.36 billion. But in all this upgrade and DeFi growth, one Ethereum project—Remittix—is currently causing a stir. With a presale price of just $0.0811, this new kid on the block is already shifting the way crypto payments are done.

    Remittix Is Creating a Stir in the Ethereum Community

    The name Remittix has quickly evolved from under-the-radar to top-of-mind for crypto investors.

    Founded on Ethereum, it offers an on-chain bank-to-crypto bridge through which users can transfer tokens like ETH, BTC, and XRP to bank accounts in fiat in minutes. This kind of utility does not exist in many new projects, and it’s fast making Remittix popular.

    More than 549 million tokens have been sold to date, and over $15.9 million have been raised a clear sign of investor confidence. At this pace, it’s guaranteed to break its $18 million softcap in a flash.

    Two Fronts Down: Real-World Payments and Presale Momentum

    Whereas the majority of tokens either focus on hype or utility, Remittix is winning by dominating both.

    On the utility side, it’s solving a real-world problem: cross-border crypto payment friction. On the presale side, it’s offering solid growth, 429% since founding, with a 50% token bonus currently active for new investors.

    The upcoming Q3 release of the Remittix wallet will only add to adoption. It’s a crucial next step in making way for a smooth user experience for frictionless PayFi transactions.

    Why Remittix Could Outperform Most Altcoins in 2025

    According to crypto experts, Remittix is set on a par with early Ripple (XRP) or Stellar (XLM) but with a faster and more approachable model.

    Its solution targets a $190 trillion international payments market. If the project does keep to its roadmap, RTX can potentially spike 100x or higher in the next bull cycle.

    And as Ethereum’s own scalability solutions make dApps more streamlined, RTX could benefit from improved gas fees and network speed.

    Is Remittix the Next Big Ethereum Gem?

    While Ethereum remains a crypto behemoth, lesser tokens like Remittix are proving that there is still space for massive growth under its wing.

    With unmatched momentum in both presale volumes and product development, Remittix (RTX) might well prove to be the most promising Ethereum-based token heading into 2025.

    For those investors looking for utility and potential, this might be the token to watch before it launches.

    Discover the future of PayFi with Remittix by checking out their presale here:

    Website: https://remittix.io/

    Socials: https://linktr.ee/remittix  

    Contact:
    Andy Černý
    andy@remittix.io

    Disclaimer: This content is provided by Remittix. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a639e7fd-3c10-4629-bf0f-caecb0adafc6
    https://www.globenewswire.com/NewsRoom/AttachmentNg/5df28e99-88d4-445c-a642-9fbee6824116
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a171a858-b65b-47e0-8a02-268b6058b067

    The MIL Network –

  • MIL-OSI: How Ethereum’s Newest PayFi Solution ‘Remittix’ Is Rapidly Dominating The Payments & Presale Arena… Simultaneously!

    Source: GlobeNewswire (MIL-OSI)

    KOŠICE, Slovakia, July 10, 2025 (GLOBE NEWSWIRE) — Ethereum remains the top smart contract platform, currently at $2,561.97 with a market cap of $309.36 billion. But in all this upgrade and DeFi growth, one Ethereum project—Remittix—is currently causing a stir. With a presale price of just $0.0811, this new kid on the block is already shifting the way crypto payments are done.

    Remittix Is Creating a Stir in the Ethereum Community

    The name Remittix has quickly evolved from under-the-radar to top-of-mind for crypto investors.

    Founded on Ethereum, it offers an on-chain bank-to-crypto bridge through which users can transfer tokens like ETH, BTC, and XRP to bank accounts in fiat in minutes. This kind of utility does not exist in many new projects, and it’s fast making Remittix popular.

    More than 549 million tokens have been sold to date, and over $15.9 million have been raised a clear sign of investor confidence. At this pace, it’s guaranteed to break its $18 million softcap in a flash.

    Two Fronts Down: Real-World Payments and Presale Momentum

    Whereas the majority of tokens either focus on hype or utility, Remittix is winning by dominating both.

    On the utility side, it’s solving a real-world problem: cross-border crypto payment friction. On the presale side, it’s offering solid growth, 429% since founding, with a 50% token bonus currently active for new investors.

    The upcoming Q3 release of the Remittix wallet will only add to adoption. It’s a crucial next step in making way for a smooth user experience for frictionless PayFi transactions.

    Why Remittix Could Outperform Most Altcoins in 2025

    According to crypto experts, Remittix is set on a par with early Ripple (XRP) or Stellar (XLM) but with a faster and more approachable model.

    Its solution targets a $190 trillion international payments market. If the project does keep to its roadmap, RTX can potentially spike 100x or higher in the next bull cycle.

    And as Ethereum’s own scalability solutions make dApps more streamlined, RTX could benefit from improved gas fees and network speed.

    Is Remittix the Next Big Ethereum Gem?

    While Ethereum remains a crypto behemoth, lesser tokens like Remittix are proving that there is still space for massive growth under its wing.

    With unmatched momentum in both presale volumes and product development, Remittix (RTX) might well prove to be the most promising Ethereum-based token heading into 2025.

    For those investors looking for utility and potential, this might be the token to watch before it launches.

    Discover the future of PayFi with Remittix by checking out their presale here:

    Website: https://remittix.io/

    Socials: https://linktr.ee/remittix  

    Contact:
    Andy Černý
    andy@remittix.io

    Disclaimer: This content is provided by Remittix. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a639e7fd-3c10-4629-bf0f-caecb0adafc6
    https://www.globenewswire.com/NewsRoom/AttachmentNg/5df28e99-88d4-445c-a642-9fbee6824116
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a171a858-b65b-47e0-8a02-268b6058b067

    The MIL Network –

  • MIL-OSI: How Ethereum’s Newest PayFi Solution ‘Remittix’ Is Rapidly Dominating The Payments & Presale Arena… Simultaneously!

    Source: GlobeNewswire (MIL-OSI)

    KOŠICE, Slovakia, July 10, 2025 (GLOBE NEWSWIRE) — Ethereum remains the top smart contract platform, currently at $2,561.97 with a market cap of $309.36 billion. But in all this upgrade and DeFi growth, one Ethereum project—Remittix—is currently causing a stir. With a presale price of just $0.0811, this new kid on the block is already shifting the way crypto payments are done.

    Remittix Is Creating a Stir in the Ethereum Community

    The name Remittix has quickly evolved from under-the-radar to top-of-mind for crypto investors.

    Founded on Ethereum, it offers an on-chain bank-to-crypto bridge through which users can transfer tokens like ETH, BTC, and XRP to bank accounts in fiat in minutes. This kind of utility does not exist in many new projects, and it’s fast making Remittix popular.

    More than 549 million tokens have been sold to date, and over $15.9 million have been raised a clear sign of investor confidence. At this pace, it’s guaranteed to break its $18 million softcap in a flash.

    Two Fronts Down: Real-World Payments and Presale Momentum

    Whereas the majority of tokens either focus on hype or utility, Remittix is winning by dominating both.

    On the utility side, it’s solving a real-world problem: cross-border crypto payment friction. On the presale side, it’s offering solid growth, 429% since founding, with a 50% token bonus currently active for new investors.

    The upcoming Q3 release of the Remittix wallet will only add to adoption. It’s a crucial next step in making way for a smooth user experience for frictionless PayFi transactions.

    Why Remittix Could Outperform Most Altcoins in 2025

    According to crypto experts, Remittix is set on a par with early Ripple (XRP) or Stellar (XLM) but with a faster and more approachable model.

    Its solution targets a $190 trillion international payments market. If the project does keep to its roadmap, RTX can potentially spike 100x or higher in the next bull cycle.

    And as Ethereum’s own scalability solutions make dApps more streamlined, RTX could benefit from improved gas fees and network speed.

    Is Remittix the Next Big Ethereum Gem?

    While Ethereum remains a crypto behemoth, lesser tokens like Remittix are proving that there is still space for massive growth under its wing.

    With unmatched momentum in both presale volumes and product development, Remittix (RTX) might well prove to be the most promising Ethereum-based token heading into 2025.

    For those investors looking for utility and potential, this might be the token to watch before it launches.

    Discover the future of PayFi with Remittix by checking out their presale here:

    Website: https://remittix.io/

    Socials: https://linktr.ee/remittix  

    Contact:
    Andy Černý
    andy@remittix.io

    Disclaimer: This content is provided by Remittix. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a639e7fd-3c10-4629-bf0f-caecb0adafc6
    https://www.globenewswire.com/NewsRoom/AttachmentNg/5df28e99-88d4-445c-a642-9fbee6824116
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a171a858-b65b-47e0-8a02-268b6058b067

    The MIL Network –

  • MIL-OSI Europe: Written question – ETS/FuelEU Maritime and IMO NZF – risk of double taxation – P-002734/2025

    Source: European Parliament

    Priority question for written answer  P-002734/2025
    to the Commission
    Rule 144
    Anna Maria Cisint (PfE), Paolo Borchia (PfE), Susanna Ceccardi (PfE), Carlo Ciccioli (ECR), Carlo Fidanza (ECR), Roman Haider (PfE), Vilis Krištopans (PfE), Nicola Procaccini (ECR), Silvia Sardone (PfE), Roberto Vannacci (PfE), Marie-Luce Brasier-Clain (PfE)

    At the 83rd session of the Marine Environment Protection Committee (MEPC83) in April 2025, the Net-Zero Framework (NZF) was adopted at the IMO (International Maritime Organisation) as a medium-term measure to reduce emissions from international maritime transport. Its implementing regulations and details will be defined at the MEPC’s extraordinary session in October 2025.

    The NZF encompasses a rigorous path towards reducing the environmental impact of fuels used on board ships, together with ambitious taxation of CO2 emissions, with a view to achieving net-zero emissions by 2050, in line with the objectives of the Paris Agreement and the European Climate Law. The measure, which the EU has been pushing for, is global and allows for the decarbonisation of the sector without market distortions.

    The EU’s regional measures – the Emissions Trading Scheme (ETS) and FuelEU Maritime – already significantly penalise the EU maritime and port sector compared to third countries and will become redundant, leading to unsustainable double taxation for the sector: they should therefore be abolished.

    The very letter of the EU ETS Directive and FuelEU Maritime Regulation requires the Commission to review the rules should there be an IMO agreement, in order to avoid ‘significant’ double taxation.

    In light of the above:

    • 1.What criteria does the Commission use to judge whether double taxation is significant?
    • 2.Does it agree there is a need to comprehensively ensure a global level playing field for EU companies in the maritime sector?

    Submitted: 3.7.2025

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB Group appoints new Head of its Permanent Representation in Brussels and Deputy Secretary General

    Source: European Investment Bank

    EIB

    • Christian Pilgaard Zinglersen appointed as Head of EIB`s Permanent Representation in Brussels and Deputy Secretary General.
    • Zinglersen has been the Director of ACER, the Agency for the Cooperation of Energy Regulators.

    The European Investment Bank Group (EIB) has recruited ACER Director Christian Pilgaard Zinglersen as Deputy Secretary General and to head its Permanent Representation in Brussels. As Deputy Secretary General, the position also holds responsibility for the EIB Economics and Group Strategy departments.

    The Permanent Representation in Brussels is the EIB Group`s liaison office towards the European Commission, the Council and the Parliament, as well as all other European institutions, agencies and stakeholders. Zinglersen will succeed Kim Jørgensen, who was at the helm of the Permanent Representation since 2022.

    Christian Pilgaard Zinglersen joins from the Agency for the Cooperation of Energy Regulators (ACER), which he has led as its director since January 2020.Before he joined ACER, which he has led as its director since January 2020, he was the Head of the Global Clean Energy Ministerial Secretariat at the International Energy Agency (IEA) in Paris. Prior to that, he served as Deputy Permanent Secretary at the Danish Ministry of Energy, Utilities and Climate, responsible for energy policy alongside other portfolios. He started his career at the Danish Ministry of Foreign Affairs focusing on EU policy and law, and was posted in Brussels for three years at the Danish Permanent Representation to the EU.

    Christian Zinglersen holds a master’s degree in law from the University of Copenhagen and is a graduate of the IESE Business School’s Advanced Management Program, as well as of the Harvard Kennedy School’s Senior Managers in Government program.

    EIB President Nadia Calviño welcomed the appointment, saying: “I am delighted to welcome Christian Zinglersen to our top management team. He brings his strong management and negotiation skills and his successful experience at the helm of a key EU agency.”

    “I am proud to join the European Investment Bank Group at this crucial time for Europe. The Bank harbours unique market and investment insights into ‘real-world’ challenges and opportunities, key to driving strategic imperatives for the EU’s competitiveness and security. I can’t wait to get started and I thank President Calviño and the EIB management team for their trust in me”, Christian Pilgaard Zinglersen said.

    Background Information

    The European Investment Bank is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, contribute to peace and security, and support a just and swift transition to climate neutrality. The Group’s AAA rating allows it to borrow at favourable conditions on the global markets, benefiting its clients within the European Union and beyond. The Group has the highest ESG standards and a tier one capital ratio of 32%.

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: FS completes visit to Seoul, Korea

    Source: Hong Kong Government special administrative region – 4

         The Financial Secretary, Mr Paul Chan, continued his visit to Seoul, today (July 10). He visited NAVER, a leading Korean innovation and technology (I&T) enterprise engaged in diverse fields such as electronic payments, e-commerce, fintech, information technology, cloud services, AI and robotics. Mr Chan was briefed by the company’s management and research and development (R&D) heads on its development journey, technological innovations, application scenarios and future business directions. He also had in-depth exchanges with them, and watched a demonstration of NAVER’s AI and robotics applications.

         Mr Chan noted that Hong Kong is also making great strides in developing its AI sector and is actively enhancing the related infrastructure. Institutions such as the Hong Kong Science and Technology Parks and Cyberport are working to build a more vibrant I&T ecosystem. Under the “one country, two systems” principle, Hong Kong, being an international financial centre, offers a comprehensive range of fundraising options and a robust legal system that safeguards data and intellectual property rights. He welcomed NAVER to collaborate with Hong Kong partners of relevant fields in R&D and business development, and to leverage Hong Kong as a fundraising platform to support its international expansion.

         Mr Chan also visited Seoul’s Digital Media City today. The Digital Media City is home to numerous companies in areas such as digital media, film and entertainment, gaming and animation, and information technology. It is a project led by the Seoul Metropolitan Government. Mr Chan met with the management team to learn more about the project’s development history and future plans, and visited an exhibition showcasing how extended reality technology is being used to support urban development.

         In addition, Mr Chan paid a courtesy call on the Chinese Ambassador to the Republic of Korea, Mr Dai Bing. He briefed the Ambassador on the latest social and economic developments in Hong Kong, as well as recent trends in Hong Kong-Korea economic and trade relations. The two also exchanged views on the global geopolitical and economic landscape, regional trade co-operation and the development of China-Korea relations.

         Mr Chan completed his visit to Seoul today and will depart for Hong Kong in the evening.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Guangdong-Hong Kong-Macao Greater Bay Area Development Office organises seminar on Creating Business Value through Intellectual Property in GBA in Guangzhou (with photos)

    Source: Hong Kong Government special administrative region – 4

         To actively support Hong Kong and Mainland enterprises to generate benefits in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and global markets through effective protection and use of intellectual property (IP) rights, the Guangdong-Hong Kong-Macao Greater Bay Area Development Office organised a seminar on Creating Business Value through Intellectual Property in the Guangdong-Hong Kong-Macao Greater Bay Area in Guangzhou today (July 10). The seminar was attended by over 250 business representatives from Hong Kong and a number of Mainland cities.
     
         In her opening remarks, the Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Ms Maisie Chan, said that the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area states that to fully leverage the advantages of Hong Kong in IP protection and related professional services, and support the development of Hong Kong as a regional IP trading centre, the Hong Kong Special Administrative Region (HKSAR) Government has rolled out a series of policies, including the Research, Academic and Industry Sectors One-plus Scheme, to promote the transformation and commercialisation of research and development outcomes, the introduction of the “patent box” tax incentive to alleviate the tax burden on enterprises and the expansion of the original grant patent system to cover frontier fields such as AI. The HKSAR Government also promotes the creation and trading of creative IP through the CreateSmart Initiative, as well as capitalising on Hong Kong’s unique advantage of being connected to the Mainland and the world to establish Asia’s first cross-border IP licensing platform, the Asia IP Exchange portal, which facilitates efficient trading of cultural and creative IP in the international markets.
     
         Today’s seminar featured keynote speeches by three distinguished experts, who introduced the IP systems in Hong Kong and the Mainland from a practical perspective, as well as the support provided by the IP professional services sector in Hong Kong to enterprises exploring global markets. The seminar also arranged two roundtable discussions with six corporate IP executives who shared their strategies and successful experiences in transforming various forms of IP into commercial value.
     
         After the seminar, Ms Chan remarked that today’s event attracted a large number of participants and fostered lively discussions, fully reflecting the industry’s strong enthusiasm for the effective use of IP rights to generate economic benefits and foster the development of the national and international dual circulation economy. Hong Kong will continue to strengthen its function as a regional IP trading centre and contribute to the high-quality development of the GBA.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by SJ at Hong Kong legal services seminar in Paris, France (English only) (with photo)

    Source: Hong Kong Government special administrative region – 4

         Following is the keynote speech by the Secretary for Justice, Mr Paul Lam, SC, at the “Paris Seminar: Hong Kong Legal Services – Gateway to China and Beyond” organised by the Department of Justice in Paris, France on July 9 (Paris time):
     
    His Excellency Mr Deng Li (Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the French Republic), distinguished guests, ladies and gentlemen,
     
    Good afternoon. Firstly, on behalf of the Department of Justice, I would like to welcome all of you joining our seminar this afternoon. I have to express my gratitude to Mr Deng Li for giving the very important opening remarks, and for helping the Department of Justice in organising this very important seminar. Second, I also wish to express my gratitude to all the supporting organisations, which include the legal professional bodies in Hong Kong, the important arbitration institutions, and leading law firms. This is in fact my first official visit to this part of the world, including France, and I think this is also the first occasion that the Department of Justice organised a seminar focusing on the legal services of Hong Kong. I’m very pleased and honoured to be able to invite very eminent speakers from both Hong Kong and France to share their experience with you in a minute. There will be two panel discussions this afternoon. I would also like to take the opportunity to thank all the speakers.
     
    What I intend to do is just to set the scene and give an overview of the theme of today’s seminar. The topic for today is Hong Kong’s legal services. There is only one important message that I wish to convey successfully at the end of today, that is Hong Kong’s common law system serves as a unique gateway to China and beyond.
     
    Why Hong Kong is a unique gateway? The short answer is that under the very important principle of “one country, two systems”, on the one hand, Hong Kong’s common law system has a number of very essential elements which are crucial and important to the business community. But at the same time, precisely because Hong Kong is a part of China, we also have very unique and important connection with the Mainland’s legal system, which is unparalleled. So this is the short answer. But to make good my point, I would like to focus on, in my belief, six very important characteristics of Hong Kong’s common law system.
     
    My first point is that Hong Kong’s common law system is very stable. Hong Kong is the only common law jurisdiction within China and the continuation of the practice of common law system is guaranteed by the Basic Law, which is a constitutional document. So this is something that is not going to change. I also wish to use a very recent example to demonstrate the confidence that both China and the international community has in Hong Kong. On May 30, 2025, the convention concerning the establishment of the International Organization for Mediation was signed in Hong Kong. It was signed by 33 countries around the world including China and many countries in Southeast Asia, Africa, Latin America and even in Europe. I think the population of all these countries added together, cost you about one third of this world’s population.
     
    The Minister of Foreign Affairs, Mr Wang Yi, came to Hong Kong and gave a very important speech. He explained why the party decided to hold the signing ceremony in Hong Kong, and more importantly, to set up the headquarters of the International Organization for Mediation in Hong Kong. The reason is that, because of “one country, two systems”, Hong Kong has the best of both worlds. On the one hand, we have a very strong common law tradition. But on the other hand, the People’s Republic of China is a civil law system. So we are a common law system in the context of a civil law system. That gives us a unique strength which makes it the perfect place to host the headquarters of the International Organization for Mediation. This is my first point – Hong Kong’s common law system is very, very stable.
     
    The second point is that Hong Kong’s common law system is very user-friendly. Hong Kong is in fact the only bilingual common law system in the world, using both English and Chinese. So all our statutes will be written in both languages. And of course, English is the language for the international business community. But apart from language, we have been working very hard to ensure that our legislation and   common law will meet the demand of the changing needs of the international community, or make it even more attractive. I wish to cite one recent example. In mid-May this year, we have just amended our company law to make it easier for companies being operated overseas to re-domicile to Hong Kong, so that these overseas companies can take advantage of the tax policy and regulatory regime in Hong Kong. And I understand that two major insurance companies have indicated that they will re-domicile to Hong Kong in November this year.
     
    My third point is that Hong Kong’s common law system provides a very safe and secure environment. Under the Basic Law, free flow of capital is guaranteed, free movement of properties including money in all forms of property is guaranteed. For as long as your investment, your money, your property, your business in Hong Kong, they are well protected by a very sophisticated regulatory regime administered by bodies such the Securities and Futures Commission, our Independent Commission Against Corruption and so on and so forth. One of the good reputation that Hong Kong enjoys is that corruption or malpractice is almost absent. So there’s no concern of corruption and other sort of malpractice. At the same time, we also make tremendous effort in ensuring that people can explore new opportunities in the safe environment. The recent example is the Stablecoins Ordinance. The Stablecoins Ordinance was enacted and will come into effect on August 1. Under this new ordinance, there will be a licensing regime for people or for traders in stablecoins. So we will allow trading and use of stablecoins subject to a very strict set of regulation to ensure that people will not be exposed to unnecessary risks. So this is my third point – Hong Kong’s common law system provides a very safe and secure environment.
     
    The fourth point is that Hong Kong’s common law system is extremely credible. One of the key reasons is that Hong Kong has a very independent and reputable judiciary. Our courts enjoy the final power of adjudication. And one special feature is that in our Court of Final Appeal, we have invited eminent judges from other common law jurisdictions to sit on a part-time basis. So at the moment, there are six foreign non-permanent judges. Two come from England, they are Lord Hoffmann and Lord Neuberger, three from Australia and one from New Zealand. The most recent appointment was made and confirmed in June, Sir William Young, who used to be a judge of the Supreme Court of New Zealand. Apart from Court of Final Appeal, we also invite judges from other common law jurisdictions to sit in our Court of First Instance.
     
    But litigation is not the only means of resolving disputes. Hong Kong is also very famous for its international arbitration service. In the very recent Queen Mary University of London’s survey, which is the most important international survey on arbitration, Hong Kong ranked second in the world after London, Hong Kong and Singapore both ranked the second. The important thing that’s worth noting is that among the cases handled by the most important institution, the Hong Kong International Arbitration Centre (HKIAC), almost 70 per cent of those cases are international in nature in the sense that either one of the parties would be a party not from Hong Kong. Even more importantly, around 15 per cent of cases handled by the HKIAC, in those cases, neither party came from Asia. So the only reason that they chose Hong Kong is, of course, because they’re confident in our arbitration service. This is my fourth point – Hong Kong’s system is very credible.
     
    My fifth point is that Hong Kong has an abundant supply of high-quality legal professionals with rich experience in handling cross-boundary or transboundary matters. Hong Kong’s legal profession is divided into two branches based on the English system. We have around 1 700 barristers who are specialists in dispute resolution. They will be engaged and instructed to appear in court in litigation and very often in arbitration. There are around 110 Senior Counsel, which will be equivalent to King’s Counsel in England. And on top of that, we adopt a very open policy. So on some cases, we will allow London Silk, a Senior Counsel, a King’s Counsel from London to take part in litigations in Hong Kong.
     
    Turning to another branch of the legal profession, the solicitors, I think there are more than 11 000 solicitors in Hong Kong, more than 900 law firms, and almost 400 of these law firms would either have offices outside Hong Kong or representative offices in Mainland China. And insofar as France is concerned, I think there are around 14 law firms in Hong Kong which have offices in France and there are also five French law firms having office in Hong Kong. So France does have a significant presence in Hong Kong. And also we have offices, lawyers practicing here in Paris. The point that I wish to make is that the legal service provided in Hong Kong is very international, so if you instruct a Hong Kong lawyer, you are not simply receiving Hong Kong legal service, you are receiving global legal service, so this is my fifth point.
     
    The last point is the very special and unique connection between the Hong Kong’s common law system and the Mainland’s civil law system. I wish to use a few examples. Up to the present, Hong Kong and the Mainland have signed nine very important mutual legal assistance arrangements. And the most often used arrangement concerns the recognition and enforcement of arbitration awards. So an arbitration award in Hong Kong can be easily enforced and recognised on the Mainland under the scheme substantially the same as that under the New York Convention. And more importantly, back in 2019, Hong Kong and Mainland China have entered into a very special arrangement, under which for arbitrations administered by specific arbitration institution in Hong Kong, the parties will be at liberty to appear or to apply before the Mainland Court for interim measures. For example, interim injunctions preserving assets or evidence that turn out to be an extremely important practical tool. So ever since the scheme came into effect on October 1, 2019, up to May this year, there were around 146 applications and the amount involved in these interim injunctions will be in the region of about US$5 billion. That’s a piece of evidence demonstrating the practical utility of this measure.
     
    My last example concerns a very recent measure introduced in February this year. It concerns the Greater Bay Area, which consists of Hong Kong, Macau, and also nine important cities in the Guangdong Province. The size of the Greater Bay Area is more like Croatia, and the population is around 86 million. And the GDP of the Greater Bay Area has already exceeded Australia, which would be the top 10 to consider as a single economic entity. So back in February, we introduced a new measure, which allows Hong Kong enterprises in certain cities in the Greater Bay Area to have the option of choosing Hong Kong law as the governing law to regulate their contracts, and also to choose Hong Kong as the seat for arbitration. Because in the past, if a foreign company or even a Hong Kong company set up an establishment on the Mainland, you have to use Mainland law. And for arbitration, you can only do the arbitration on the Mainland, so the options that I’ve just mentioned were not open. The other important point is that, insofar on the definition of Hong Kong enterprise is concerned, it doesn’t matter the percentage of interest owned by the Hong Kong party. For example, it’s very easy for a French company to come to Hong Kong to find a partner, a Hong Kong partner, which may hold a very small interest, say one per cent. So as long as there’s some common interest, it will be qualified as a Hong Kong enterprise, and that will give you the liberty to choose Hong Kong law or to use Hong Kong as a place of arbitration, so this is my sixth point.
     
    To sum up, Hong Kong’s common law system is stable, it’s very user-friendly, it’s very safe and secure, it’s very credible, and we have an abundant supply of international legal professionals. And lastly, we have very unique connection with the Mainland system. And my dear friends, it’s really the combination, it’s really the sum total of these six elements, which in my view, render Hong Kong a unique gateway. Hong Kong is definitely not the only gateway, but I’m very confident to say that because of the matters that I mentioned, Hong Kong as a gateway is unique. It’s unparalleled. It’s something that you cannot find elsewhere.
     
    President Xi Jinping said that the rule of law provides the best business environment (法治是最好的營商環境). I think Hong Kong offers the best business environment because we have a very strong rule of law based on a common law system, which has all the unique characteristics that I said. I think Hong Kong’s reputation is very recognised internationally. According to a survey done by the IMD, the International Institute for Management Development based in Switzerland very recently, in terms of global competitiveness, Hong Kong ranked the third. Hong Kong actually ranked the second in terms of government efficiency and business efficiency. When it comes to our tax policy and business legislation, Hong Kong actually ranked the first. I think this is a very objective assessment of the reputation enjoyed by Hong Kong.
     
    Ladies and gentlemen, I’m sure that you will be more convinced by what I have just said after hearing from our very eminent speakers who will share their experience in handling legal matters or in relation to China, Hong Kong and also France in the next two hours or so. Now, to conclude, I would like to thank all of you again for joining this legal seminar, and I sincerely hope that you will find today’s seminar constructive and enjoyable. Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Results of monthly survey on business situation of small and medium-sized enterprises for June 2025

    Source: Hong Kong Government special administrative region – 4

    The Census and Statistics Department (C&SD) released today (July 10) the results of the Monthly Survey on Business Situation of Small and Medium-sized Enterprises (SMEs) for June 2025.
     
    The current diffusion index (DI) on business receipts amongst SMEs decreased from 42.1 in May 2025 in the contractionary zone to 41.6 in June 2025, whereas the one-month’s ahead (i.e. July 2025) outlook DI on business receipts was 45.4. Analysed by sector, the current DIs on business receipts for many surveyed sectors dropped in June 2025 as compared with previous month, particularly for the business services (from 45.2 to 43.5) and retail trade (from 41.3 to 39.8).
      
    The current DI on new orders for the import and export trades increased from 44.0 in May 2025 to 45.0 in June 2025, whereas the outlook DI on new orders in one month’s time (i.e. July 2025) was 47.6.
     
    Commentary

    A Government spokesman said that overall business sentiment among SMEs weakened slightly in June. The overall employment situation also softened somewhat. Nonetheless, expectations on the business situation in one month’s time remained stable.
     
    Looking ahead, the ongoing uncertainty in trade policies in the external environment would continue to affect business sentiment. Nonetheless, the resilient local economy and sustained steady growth in the Mainland economy should provide support. The Government will continue to monitor the situation closely.
     
    Further information
     
    The Monthly Survey on Business Situation of Small and Medium-sized Enterprises aims to provide a quick reference, with minimum time lag, for assessing the short-term business situation faced by SMEs. SMEs covered in this survey refer to establishments with fewer than 50 persons engaged. Respondents were asked to exclude seasonal fluctuations in reporting their views. Based on the views collected from the survey, a set of diffusion indices (including current and outlook diffusion indices) is compiled. A reading above 50 indicates that the business condition is generally favourable, whereas that below 50 indicates otherwise. As for statistics on the business prospects of prominent establishments in Hong Kong, users may refer to the publication entitled “Report on Quarterly Business Tendency Survey” released by the C&SD.
     
    The results of the survey should be interpreted with care. The survey solicits feedback from a panel sample of about 600 SMEs each month and the survey findings are thus subject to sample size constraint. Views collected from the survey refer only to those of respondents on their own establishments rather than those on the respective sectors they are engaged in. Besides, in this type of opinion survey on expected business situation, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the business situation accords with the underlying trends. For this survey, main bulk of the data were collected around the last week of the reference month.
     
    More detailed statistics are given in the “Report on Monthly Survey on the Business Situation of Small and Medium-sized Enterprises”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080015&scode=300).
     
    Users who have enquiries about the survey results may contact Industrial Production Statistics Section of the C&SD (Tel: 3903 7246; email: sme-survey@censtatd.gov.hk).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Secretary for Health to depart for Nanjing tomorrow

    Source: Hong Kong Government special administrative region – 4

    The Secretary for Health, Professor Lo Chung-mau, will depart for Nanjing tomorrow (July 11) to meet with health officials of Jiangsu Province and introduce them to the latest developments of various healthcare policies in Hong Kong as well as attend the 13th Nanjing Academic Symposium on Hepatobiliary Surgery and Liver Transplantation, with a view to deepening exchanges and collaboration on healthcare-related areas with the Mainland.

    During his visit to Nanjing, Professor Lo will also visit local pharmaceutical companies and hospitals to introduce the latest progress in enhancing Hong Kong’s drug approval mechanism and registration regime, and share the city’s experiences in strengthening hospital management and services respectively.

    Accompanying Professor Lo on the visit are the Assistant Director of Health (Drug), Mr Frank Chan; the Director (Quality and Safety) of the Hospital Authority (HA), Dr Michael Wong; and the Cluster Chief Executive of Hong Kong West Cluster of the HA, Dr Theresa Li.

    Professor Lo will return to Hong Kong in the afternoon on July 12. During his absence, the Under Secretary for Health, Dr Libby Lee, will be the Acting Secretary for Health.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: EMSD announces test results of LPG quality in June 2025

    Source: Hong Kong Government special administrative region – 4

    The Electrical and Mechanical Services Department (EMSD) today (July 10) announced that the department collected 10 liquefied petroleum gas (LPG) samples from auto-LPG filling stations and LPG terminals on a random basis in June 2025 for laboratory tests. The results show that the LPG quality of all these samples complied with auto-LPG specifications.
     
    The detailed test results are available on the EMSD’s website (www.emsd.gov.hk/en/gas_safety/lpg_vehicle_scheme/publications/general/results_of_lpg_sample_analysis/index.html). Enquiries can also be made to the EMSD’s hotline on 2333 3762.
     
    In addition, the EMSD has been vetting independent third-party test reports submitted by LPG supply companies for each shipment to ensure that the quality of imported LPG complies with the specified requirements.

    MIL OSI Asia Pacific News –

  • MIL-OSI Banking: Guidance Note on Managing the Financial Risks of Climate Change and Nature Loss

    Source: Isle of Man

    The Isle of Man Financial Services Authority has published guidance to raise awareness within the regulated sector of climate and nature loss risks and provide further clarity around the expectations of the Authority in respect of these risks.

    This represents a significant first step in the Authority’s work  to support the ambitions highlighted in the Isle of Man Sustainable Finance Roadmap. This initiative aims to facilitate the Isle of Man creating an environment where sustainable finance can thrive, benefitting our community and economy alike.

    The Authority’s workstreams are focussed on creating a platform that enables firms to develop products and services, with a view to fostering the growth of sustainable finance as part of a well-regulated international business centre.

    This guidance note is applicable to entities regulated under the Financial Services Act 2008, the Insurance Act 2008 and the Collective Investment Scheme Act 2008. It aims to give a high-level understanding of how climate and nature loss risks can create financial and other risks, as well as the expectations that the Authority has of firms that identify a material risk. The document focusses on how these risk management expectations sit within the existing regulatory frameworks, with no new requirements for firms. Another key focus area within the document is that of proportionality and materiality. The majority of the guidance is applicable only for business that have identified a material climate or nature risk as part of their risk assessment processes.

    Outreach by Finance Isle of Man has yielded positive feedback around the opportunities set out in the Isle of Man Sustainable Finance Initiative to enable growth for businesses, educate staff, attract talent and businesses to the Island and help the Isle of Man achieve  its wider goals for growth and sustainability. The Authority remains committed to driving forward an important project for our Island’s future.

    Media Enquiries:

    Adam Creamore, Sustainable Finance & ESG Adviser, email: Adam.Creamore@iomfsa.im

     

    For further information:

    PO BOX 58      DOUGLAS        ISLE OF MAN              IM99 1DT        BRITISH ISLES

     Twitter              LinkedIn             Facebook                       YouTube

    T: +44 (0) 1624 646000           E: info@iomfsa.im

    MIL OSI Global Banks –

  • MIL-OSI Africa: Spaza Shop Support Awareness campaign moves to Beaufort West

    Source: Government of South Africa

    Spaza Shop Support Awareness campaign moves to Beaufort West

    In its continued efforts to uplift township and rural-based businesses, the Department of Trade, Industry and Competition (the dtic), in collaboration with the Department of Small Business Development (DSBD) is set to host a Spaza Shop Support Awareness Campaign in the Western Cape.

    Friday’s session is scheduled to take place at the KwaMandlenkosi Community Hall in the Beaufort West Local Municipality and is open to informal traders, spaza shop owners and micro-retailers operating in the area.

    This community-focused initiative follows the national launch of the R500 million Spaza Shop Support Fund in April 2025 by dtic Minister Parks Tau and DSBD Minister Stella Tembisa Ndabeni.

    The fund aims to help small retailers transition into the formal economy, access funding, and strengthen their businesses.

    Delivered in partnership with the Small Enterprise Development and Finance Agency (SEDFA) and the National Empowerment Fund (NEF), the campaign offers practical tools, guidance on compliance, and pathways for inclusion in formal supply chains.

    Attendees in Beaufort West will have the opportunity to engage directly with programme implementers, ask questions about the application process, and learn more about the business development resources available to them.

    According to the Minister Tau, the fund represents a concrete step by government to formalise and empower the informal sector. He said supporting spaza shops means enabling entrepreneurs, often women and young people, to participate fully in the economy.

    “These small businesses generate employment, drive local commerce, and channel much-needed income into communities that have long been underserved. Studies show that small businesses account for a significant portion of job creation in South Africa. 
    “By providing spaza shop owners with financial support, infrastructure upgrades, and essential business training, we are setting the stage for sustainable job creation,” the Minister explained.

    Meanwhile, Ndabeni said the role played by SEDFA and the NEF is deeply appreciated and that her department believes the fund will go a long way in assisting shop owners who are registered and hold valid operating permits.

    “Our partnership ensures that spaza shop owners are not only funded but also trained, mentored, and integrated into reliable supply chains. This is about building long-term sustainability for township retail,” Ndabeni said.

    Through initiatives like this, government aims to ensure that township and rural-based convenience shops are better equipped to thrive in a competitive market. – SAnews.gov.za

    Edwin

    MIL OSI Africa –

  • MIL-OSI Video: The fourth Ukraine Recovery Conference: Rome 2025

    Source: European Commission (video statements)

    On 10 and 11 July 2025 takes place the fourth Ukraine Recovery Conference (URC2025) in Rome, continuing the annual series of high-level political events dedicated to the swift recovery and long-term reconstruction of Ukraine.

    Commission President Ursula von der Leyen will give a speech during the Plenary Session, together with:

    Volodymyr ZELENSKYY, President of Ukraine
    Friedrich MERZ, German Federal Chancellor
    Donald TUSK, Polish Prime Minister
    Lars Løkke RASMUSSEN., Minister for Foreign Affairs of Denmark
    Olena ZELENSKA, Spouse of Volodymyr Zelenskyy, President of Ukraine

    Follow live events and access media content here:
    https://audiovisual.ec.europa.eu/en/

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  • MIL-OSI Africa: Burkina Faso Economic Update: Energy for Economic Growth

    Source: APO


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    According to the World Bank’s April 2025 Burkina Faso Economic Update, the country’s economy grew by 4.9% in 2024 compared to 3.0% in 2023. Real per capita GDP growth also increased from 0.7% to 2.5% over the same period.

    This acceleration is attributed mainly to the performance of services and agriculture, supported by an improved security situation, favorable weather conditions, and increased government support to the agriculture sector.

    However, inflation increased in 2024 to 4.2% from 0.7% in 2023, driven by the spike in food prices, caused by market speculation linked to a late start to the rainy season. Despite this, the strong growth in the agriculture and services sectors in 2024 reduced the extreme poverty rate by 3 points to 23.2%, with a sharper decline in rural areas. Despite this, the absolute number of people living in poverty remains high, exceeding 5.5 million.

    The report also notes a decline in the twin deficits (fiscal and current account) in 2024. The fiscal deficit improved in 2024 from 6.5% to 5.6% of GDP, thanks to better control of public spending and increased revenue mobilization. At the same time, the current account deficit also improved from 8.0% of GDP in 2023 to 6.4% in 2024, due to the rise in gold prices which boosted the value of exports. However, the financing of this deficit largely relied on regional markets, in an environment of high interest rates.

    The report highlights that the short- and medium-term outlook remains positive but is subject to multiple risks such as insecurity, climate shocks, debt refinancing, and challenges in the financial sector. Assuming these risks abate, growth is expected to strengthen to 5% over the medium term, driven by buoyant services, an expected recovery of industry, notably through improved energy access, and favorable average weather conditions for agriculture.

    Inflation, meanwhile, is expected to gradually stabilize within the WAEMU target range. This outlook, combined with continued fiscal consolidation, is expected to enable a continued but moderate reduction in poverty estimated at about 1 percentage point per year.

    Regarding the economy, Daniel Pajank and Ibrahim Nana, co-authors of the report, call for “Strengthening the mobilization and efficiency of public resources, including through the continuous modernization of the tax administration, the broadening of the tax base and the optimization of public spending, while improving debt management and mobilizing more concessional financing.”

    The Special Chapter on Energy for Economic Growth provides an assessment of the electricity sector in Burkina Faso and concrete recommendations to achieve the objectives set in the National Electrification Strategy. It highlights the key role of energy in the country’s economic transformation. According to Hamoud Abdel Wedoud Kamil, World Bank Country Manager for Burkina Faso, “Affordable, reliable, and sustainable electricity is essential to improve productivity in agriculture, support the growth of services, and revive the industrial sector.”

    Despite the efforts made, access to electricity remains limited in Burkina Faso, with a rate well below the regional average. This situation constitutes a major obstacle to inclusive growth and reduces economic opportunities for a large part of the population, particularly in rural areas.

    The co-authors of the chapter dedicated to the energy sector, Regina Nesiama Miller and Adwoa Asantewaa, emphasize that “An ambitious reform of the sector, including pricing based on the cost of electricity production and the expansion of off-grid access, would be essential to reduce vulnerabilities and ensure inclusive growth.“

    Finally, the report recommends tackling the structural constraints to the country’s economic transformation, particularly in the electricity sector, which remains characterized by some of the region’s highest generation costs and heavy reliance on imported fuels. 

    Distributed by APO Group on behalf of The World Bank Group.

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