Film festivals are unique cultural institutions, spaces to see diverse films by local and global filmmakers and an important market for distributors. These films are often difficult to see, or even know about, outside of festival circuits.
Festivals are also answerable to funders and to different stakeholders’ interests. Cancellations of planned films raise questions about festivals’ roles and accountability to community groups who find certain films objectionable, the wider public, politicians, festival sponsors, audiences, filmmakers and the films themselves.
In September 2024, The Toronto International Film Festival (TIFF) faced a backlash from pro-Ukrainian groups — and former deputy prime minister Chrystia Freeland, who is of Ukrainian descent — when the documentary Russians at War was included in the program.
RIDM acknowledged Elon’s “personal commitment to criticizing and questioning the state of Israel” through her story about the stone that, by Israeli law, has to be used on the exterior of every new building in Jerusalem.
While the reasons for the cancellations are different, in both cases the festivals responded to pressures from community groups, placing the public right to a robust debate at the festival and beyond as secondary.
‘Russians at War’
Director Anastasia Trifamova embedded herself in a Russian supply unit, and later a medical team, eventually making her way to the front lines in occupied Ukraine.
Trifamova comes across as a naive filmmaker, using an observational, non-judgmental form of filmmaking common in 21st-century war documentaries, as seen in films like Armadillo and Restrepo (respectively following Danish and U.S. troops in Afghanistan).
The film documents the machination of war, where soldiers are both perpetrators of violence and its victims. It humanizes the soldiers, which understandably can be upsetting to Ukrainian and pro-Ukrainian publics. But should emotions of one group, outraged and incensed as they may be, prevent the public from having the difficult conversations promoted by the film?
Early in the film, Trifamova confronts the soldiers about why they are fighting and they respond with Russian propaganda (fighting Nazism, defending the borders).
Later, soldiers approach Trifamova — on camera — to express doubts about the justification of the war and their presence in Ukraine. The film provides an unflattering view of Russia’s attack on Ukraine, emphasizing the futility of the war and the incredible toll on soldiers and civilians (including some Ukrainian civilians). Russian troops appear untrained and poorly equipped to fight in chaotically managed battles.
Like Armadillo and Restrepo, Russians at War represents the soldiers without judgment and contributes to necessary conversations about war. In my analysis, while Trifamova refrains — in her sporadic voice-over — from condemning the war outright, it is difficult to read the film as Russian propaganda.
The film, which examines architecture’s role in creating modern Jerusalem, is led by Elon’s voice-over. It mixes her memories of growing up in 1970s Jerusalem and her reckoning with the “frenzy of building,” which included projects by architect Moshe Safdie, a citizen of Israel, Canada and the United States. Elon recounts that her father, journalist and author Amos Elon, was a close friend of Safdie, as well as legendary Jerusalem mayor Teddy Kolek.
Safdie is among the Israeli architects, architectural historians and planners who Elon interviews. The expansion of Jewish neighbourhoods is contrasted with the restrictions on and disposession of Palestinians in Jerusalem. Multiple scenes show the demolition of Palestinian homes or the aftermath. In intervwoven segments, Izzat Ziadah, a Palestinian stonemason who lives in a stone quarry, gives a tour of what is left of his destroyed home.
Viewers hear how the planning, expansion and building of Jewish neighbourhoods, post-1967, were designed to evoke biblical times. As architectural historian Zvi Efrat notes, the new neighbourhoods look like, or attempt to look like, they were there forever.
‘Rule of Stone’ trailer.
As reported by La Presse, the RIDM cancellation came after the festival received information about the documentary’s partial Israeli financing, something that “embarrassed” them with some of the festival’s partners. Funding for the development of the film came from the Makor Foundation for Israeli Films, which receives support from Israel’s Ministry of Culture and Sport.
In my view, this position differs from the PACBI guidelines, which state:
“As a general overriding rule, Israeli cultural institutions, unless proven otherwise, are complicit in maintaining the Israeli occupation and denial of basic Palestinian rights, whether through their silence or actual involvement in justifying, whitewashing or otherwise deliberately diverting attention from Israel’s violations of international law and human rights.”
Makor should be exempted since it regularly funds films that draw attention to Israel’s violations of Palestinian human rights. In 2024 alone, the list includes The Governor, The Village League and Death in Um al hiran.
RIDM’s website does not disclose support for a boycott. In the end, RIDM announced that Elon withdrew her film. She stated: “Screening my film at RIDM does not serve the long-term purpose of the festival, nor is it possible now to address the nuances in our common fight for justice for Palestine. I am deeply saddened and distressed by [what] has brought it to this point.”
To date, the film has not found a cinema in Montréal willing to screen it.
Provoking important conversations
The two festivals’ mission statements promise high-quality films that transformor renew audiences’ relationships to the world.
It is clear why programmers chose both films, since they’re cinematically innovative and provoke important conversations.
However, both festivals silenced these films and signalled to other filmmakers that these festivals are not brave spaces to have difficult and necessary conversations.
Dorit Naaman does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Exhausted from a long campaign but buoyed by an extraordinary victory, Keir Starmer stood on the steps of Downing Street just over one year ago to deliver his victory speech. “Your government,” the new prime minister said, “should treat every single person in this country with respect.”
This message of respect resonated strongly in the year leading up to the campaign, coming as close as anything to providing a central argument to Labour’s case for government. And, according to polling and focus groups that my team at UCL Policy Lab designed along with polling company More in Common, it seemed to work.
As our research at the time showed, voters felt that “respecting ordinary people” was the most important attribute that any politician could have, more important than having ideas for the future, managing effectively or having real experience. And they thought Starmer was the leader who displayed that respect most.
A year later, the picture looks quite different. In new polling, we asked a representative sample of over 7,000 people to evaluate the government one year on. On respect, the judgement has not been good.
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During the general election campaign, 41% of the electorate said that they believed that Starmer “respected people like them”. One year on, that stands at only 24%. At the same time, the number who say that he does not respect them has risen from 32% to 63%. Starmer is now outstripped on that question by Nigel Farage – 33% say the Reform UK leader respects people like them.
Losing support
This view has had crucial political consequences. Of those who voted for Labour in the general election, only 60% of our respondents say they would vote for the party in an election held tomorrow.
And that is not because some other political party is suddenly swooping in for their supporters. Labour’s voters are defecting in a host of different directions: 11% say they would vote Reform; 8% would vote Liberal Democrat; 4% would vote Green and 4% would vote Conservative. A further one in ten say they simply don’t know how they would vote.
Labour’s losses have been most dramatic among their first-time voters. Of those who voted for Labour in 2024 but not in any other general election since 2010, barely a third still support the party, while a fifth would vote for Reform UK.
These political failures, our report contends, are directly related to the declining sense of respect. The top reason voters gave for turning away from Labour are the broken promises and U-turns made by Labour in government, followed by the party’s failure to reduce the cost of living and changes to the winter fuel payment.
The idea of “respect” being key to the public’s sense of whether a government is on their side or not has been growing for many years now, both in academia and in politics itself. Since at least the 2007/8 financial crisis there has been a sense that large swathes of the public feel neglected, overlooked and even disdained by those who govern them.
When people talk about wanting to see “change” in Britain, this is often what they mean. It was a theme I touched on recently in two books, Out of the Ordinary and, with my co-author Tom Baldwin, England.
Just over a year ago, a happier Starmer delivers his victory speech. Shutterstock
But respect is not just an abstract idea. People appear to judge whether they are respected by those who govern them or not primarily on the basis of whether the government stands up for them against powerful vested interests.
Our earlier research demonstrated that there is a widespread sense among the British public that certain groups have had it too easy for too long. This is either because they have been able to intimidate the government, or because government ministers and advisers have themselves been recruited from among these groups.
In our new report, therefore, we see that the new government’s most popular act was their willingness to raise the minimum wage by £1,400 in April, against the objections of some in business who suggested that such a move was too burdensome on them.
Changes to the winter fuel allowance and proposed changes to the disability benefits system, on the other hand, registered poorly. They suggest that the interests of ordinary and vulnerable people count for too little in decision-making.
These judgements currently shape the mood of the country and probably top the list of issues that the government now needs to address. There is still time for the government to rebuild its appeal, of course. Indeed, our respondents who said they would vote for Labour said they would do so because the party needs more time to fix the problems they inherited.
But as it seeks to do so, voters will want to know who this government stands for. Whose interests does it put first? What kind of people does it respect?
Much of the electorate thought they knew the answer to these questions one year ago. Now they’re not so sure.
Marc Stears directs the UCL Policy Lab, a non-partisan think tank based at University College London. He was previously chief speechwriter to the UK Labour Party.
Winners of the Touchstone Award 2025 for hallmarking enforcement and education announced.
The British Hallmarking Council (BHC) has awarded the Touchstone Award 2025 to London Trading Standards (LTS) for its role in ‘Operation Stamping it Out’, at the recent Chartered Trading Standards Institute (CTSI) annual conference in Blackpool.
The Touchstone Award, launched by the BHC in 2012, sponsored by the National Association of Jewellers and supported by the CTSI, recognises the most effective initiative relating to hallmarking enforcement or education delivered by a local authority.
Launched in 2023, ‘Operation Stamping It Out’ is a pioneering hallmarking education and enforcement project, established and funded by the London Assay Office and delivered in conjunction with the WRi Group. It aims to ensure retailers of silver, gold, platinum and palladium jewellery and artworks in London and the Southeast are compliant with the Hallmarking Act (1973), and is delivered through a programme of education, awareness and enforcement.
Across the 8 LTS teams involved in the operation:
132 intelligence reports were generated
311 retailers were visited
more than 200 verbal or written warnings were issued for hallmarking non-compliance
over £250,000 worth of silver and gold jewellery without hallmarks has been seized
4 active criminal prosecutions are underway
The Chair of the BHC, Noel Hunter, said:
The British Hallmarking Council congratulates London Trading Standards on winning the Touchstone Award. It was an incredible team effort which has produced, and continues to produce, unprecedented results. It will undoubtedly provide an enforcement model that can be used elsewhere across the UK. The BHC looks forward to supporting that development.
The Chief Executive of the National Association of Jewellers, Ben Massey, said:
Operation Stamping It Out has laid bare the serious threat that the illicit trade in un-hallmarked precious metals poses to consumers and to the UK jewellery industry – an industry worth £10 billion annually and supporting over 60,000 jobs.
The outstanding results achieved by London Trading Standards are a testament to what can be accomplished with focused enforcement, and the 2025 Touchstone Award is richly deserved. However, this must not remain a localised effort. It is imperative that Trading Standards teams and related agencies come together to adopt and implement a similar programme nationally, ensuring a consistent and robust response across traditional retail and digital marketplaces.
The Director of the London Assay Office, Will Evans, said:
For more than 700 years, the London Assay Office has protected consumers and the trade by ensuring the quality of precious metals. We are incredibly proud to support Operation Stamping It Out, and thrilled that the collaboration between WRi Group and London Trading Standards – which has seen more than £250,000 of illegal items removed from the streets so far – has been recognised with the 2025 Touchstone Award.
The dedication and professionalism shown by the teams from the London boroughs of Tower Hamlets, Camden, Westminster, Hackney, Ealing, Waltham Forest, and Newham, and the Royal Borough of Kensington and Chelsea, to protecting consumers and businesses, shows how much can be achieved when we work together towards a common goal.
PITTSBURGH, July 08, 2025 (GLOBE NEWSWIRE) — TrueCommerce, a global provider of supply chain and trading partner connectivity, integration and omnichannel solutions, today announced Bill Glass as Chief Executive Officer (CEO). This leadership transition signals a new chapter for the company, one focused on accelerating innovation and doubling down on its long-standing commitment to customer experience and operational excellence.
Glass steps into the role with a proven track record of leading high-growth, private equity-backed SaaS companies such as Bazaarvoice and Accruent. He joined TrueCommerce in 2022 as Chief Sales Officer, where he played a key role in shaping the company’s go-to-market strategy and building momentum across global sales efforts. Prior to that, he served as SVP of Global Sales at insightsoftware, where he helped lead the growth of over 5X in revenue both organically and across 18 acquisitions in North America, EMEA and APAC, while also building a scalable, high-velocity global sales organization.
“I’m honored to lead TrueCommerce into this next phase,” said Glass. “We have a tremendous foundation to build on, and now we’re sharpening our focus around three core pillars: innovation, customer experience, and operational excellence. These will guide every decision we make as we scale the business, deepen our customer partnerships, and lead the market in supply chain connectivity solutions.”
Supporting this strategic evolution, the company also announced Ray Greer as Chairman of the Board. Greer brings more than 35 years of leadership experience in the supply chain, transportation, and logistics sectors. He currently serves as an Operating Partner Consultant at Welsh, Carson, Anderson & Stowe, the private equity partner of TrueCommerce. Additionally, Kimberly Williams, CEO of Absorb LMS Software, joins the board, bringing three decades of executive experience across the technology sector.
“This is an exciting inflection point for TrueCommerce,” said Greer. “With Bill at the helm and a clear strategic focus, the company is well-positioned to lead the industry through its next wave of growth. The board is fully aligned and confident in the leadership team’s ability to drive value, both for customers and stakeholders.”
Glass succeeds Randy Curran, who recently retired from the CEO role. “We thank Randy for his leadership and the pivotal role he played over the past three years at TrueCommerce,” said Glass. “His focus on operations and organizational alignment has laid a strong foundation for our continued evolution and long-term success.”
Connect with TrueCommerce
About TrueCommerce
At TrueCommerce, we empower businesses to improve their supply chain performance and drive better business outcomes. Through a single connection to our high-performance global supply chain network, businesses receive more than just EDI, they get access to a fully integrated network that connects their customers, suppliers, logistics partners and internal systems. Our cloud-based, fully managed services help businesses achieve end-to-end supply chain management, streamlined delivery, and simplified operations. With 25+ years of expertise and trusted partnership, TrueCommerce helps businesses reach their true supply chain potential today while preparing them for the future with our integration-agnostic network. That’s why thousands of companies—from SMBs to the global Fortune 100, across various industries—rely on us. To learn more, visit https://www.truecommerce.com.
TrueCommerce is a trademark of True Commerce, Inc. All other trademarks are property of their respective owners.
About Welsh, Carson, Anderson & Stowe
WCAS is a leading U.S. private equity firm focused on two target industries: healthcare and technology. Since its founding in 1979, the firm’s strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives, and strategic acquisitions. The firm has raised and managed funds totaling over $27 billion of committed capital. For more information, please visit WCAS.
London, UK, July 08, 2025 (GLOBE NEWSWIRE) — Recently, FIND MINING, which is regulated by the UK, officially released its highly anticipated new application, which has attracted widespread attention from both inside and outside the industry. This revolutionary application not only achieved a major breakthrough in functionality and user experience, but also marked a solid step towards compliance and intelligence in the field of blockchain and digital mining.
Compliance endorsement, trustworthy
As a British-regulated company, FIND MINING has always adhered to the legal, compliant and transparent operating philosophy and strictly complied with relevant financial regulations and data protection policies. This has made it stand out in the fiercely competitive digital mining track and won the trust and support of global users.
Innovative functions lead industry change The new application released this time integrates many innovative features:
Intelligent computing power allocation: Users can flexibly adjust computing power allocation according to personal needs to maximize profits.
One-click mining: The operation interface is simple and intuitive, and novice users can quickly get started, realize one-click start and real-time monitoring.
Data transparency: The application provides real-time profit reports and mining machine operation status to ensure that users are fully aware of their asset status.
Multiple security protection: Using bank-level encryption technology, combined with multiple identity authentication, to maximize the security of user assets.
Main features of the FIND MINING app
One-click mining activation
No need to configure a wallet or connect to a mining pool. Simply register and activate the contract to start your mining journey. The system will select the highest-yielding assets for mining in real time.
$15 Register Bonus and Daily Bonus
New users receive a $15 sign-up bonus and can earn $0.60 per day just by logging in. This makes FIND MINING one of the few platforms where users can start earning money without any upfront investment.
Platform security comes with built-in banking-grade encryption, McAfee® threat protection, and Cloudflare® anti-DDoS protection. All user activity, balances, and transactions are protected and transparently displayed via the in-app dashboard.
Multi-language support for 175 countries
FIND MINING currently supports more than 15 languages ??and operates in more than 175 countries/regions, truly realizing global operations. Users can enjoy 24/7 multilingual customer service support to solve any problems in real time.
Visit the official website https://findmining.com/, sign up with your email, and get a $15 bonus instantly.
Step 2: Explore the Contract
A variety of USD-based mining contracts to meet different investment goals, from low-cost entry-level plans to high-yield long-term plans.
Step 3: Activate and Earn
After activating the contract, the system will mine for you 24/7. Your earnings will be directly deposited into your account balance.
Step 4: Withdraw or reinvest
When your balance reaches $100, you can withdraw your favorite cryptocurrency — or reinvest it to further magnify your daily profits.
Choose your profit method: flexible cryptocurrency payment methods
Whether you are a Bitcoin enthusiast or a stablecoin lover, FIND MINING allows users to freely withdraw a variety of cryptocurrencies, including: Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), Dogecoin (DOGE), Solana (SOL), Bitcoin Cash (BCH), Tether (USDT), USDC, etc.
Break down barriers and enable more people to participate FIND MINING’s revolutionary new application further lowers the threshold for participation in digital mining. Whether you are a technology enthusiast, a digital asset investor, or an ordinary user interested in blockchain, you can easily participate in the mining ecosystem through this platform and share the dividends brought by decentralized technology.
Leading the future of the industry and creating a sustainable ecosystem Against the backdrop of increasingly stringent global regulation of cryptocurrency and blockchain industries, FIND MINING has taken the lead in achieving compliance development, which not only sets an industry benchmark, but also injects new impetus into the healthy and sustainable development of the entire digital mining industry. In the future, FIND MINING will continue to deepen technological innovation and compliance operations, and work with users to build a safer, more transparent and sustainable new digital mining ecosystem.
Conclusion
This revolutionary new application of FIND MINING is not only a technological innovation, but also a powerful practice of compliance and user interest protection. Its launch will undoubtedly drive the entire digital mining industry towards a more standardized, transparent and efficient new era.
Disclaimer: The information provided in this press release is for reference only and does not constitute an investment invitation, financial advice, or trade recommendation. Cryptocurrency mining and staking involve risks and may result in financial losses. We strongly recommend conducting thorough due diligence and consulting professional financial advisors before engaging in cryptocurrency or securities investments and trades.
One of Plymouth’s newest and best energy-efficient housing developments has been honoured at a prestigious regional award ceremony.
Broadland Gardens, built on the site of the former Morley Youth Centre in Plymstock, is a sustainable, new community of two, three and four bedroomed homes.
Heated with modern, energy-efficient technology, to help achieve low carbon living, particular attention has been paid to their design, so that they are adaptable and sustainable and mark the first direct delivery of new homes by the council this century.
These impressive credentials led to Broadland Gardens picking up the Residential Project of the Year (35 homes and under) honour at last week’s Michelmores Property Awards.
The Michelmores Property Awards celebrates the best property, development and construction projects in the South West, bringing together all those who contribute to the region’s exciting property, real estate and construction sectors.
It celebrates buildings, developments and projects based in Devon, Cornwall, Somerset, Dorset, Bristol, Wiltshire and Gloucestershire and place quality and design, social, environmental, sustainable and economic values at the heart of its judging criteria.
Councillor Chris Penberthy, Cabinet Member for Housing, Communities and Cooperative Development, said: “I’m honoured that Broadland Gardens has been recognised in such a way – it really has been an incredible development.
“We were clear from the outset that we wanted these to be homes that are liveable, adaptable and sustainable. We have delivered on that vision.
“The direct delivery of these homes, with the surplus invested back into Plan for Homes 4 to support the delivery of affordable housing elsewhere in the city, has been a triumph.
“We have demonstrated that it is possible to create quality, well-designed homes in an urban environment and set a standard for the market.”
Broadland Gardens was funded through the Council’s Plan for Homes Investment Fund, designed by local architects Clifton Emery Design and built by Plymouth-based Classic Builders.
New York, July 08, 2025 (GLOBE NEWSWIRE) — PaladinMining Cloud Mining, a global provider of digital asset infrastructure, has officially launched its new automated cloud mining platform, designed to eliminate the need for hardware, technical expertise, or on-site setup. The platform offers users across more than 100 countries a streamlined entry into the crypto mining ecosystem—built for accessibility, transparency, and sustainability.
The launch comes as growing global interest in digital assets coincides with increasing demand for energy-efficient, hands-free mining solutions. PaladinMining’s new platform delivers a solution that allows individuals to lease computing power and remotely participate in mining Bitcoin and other cryptocurrencies without needing to manage mining hardware themselves.
“We created PaladinMining to lower the barriers to entry in crypto mining,” said John Alexander, Chairman and CEO of PaladinMining. “As digital currencies continue to evolve as long-term strategic assets, we aim to provide an intuitive and environmentally responsible way for users to engage in mining, regardless of experience level.”
How to quickly start the PaladinMining cloud mining journey?
1. Register an account and get a $15 immediately 2. Choose a personalized computing power contract Whether you are a novice or an experienced investor, PaladinMining offers a variety of computing power contracts. You can choose the most suitable plan for you according to your budget and profit goals to maximize every penny. Stable income contract:
⦁【New User Experience Contract】: Investment amount: $100, total net profit: $100 + $7 ⦁【ETC Miner E9 Pro】: Investment amount: $1,500, total net profit: $1,500 + $180. ⦁【Bitcoin Miner S21 Pro】: Investment amount: $4,300, total net profit: $4,300 + $1,100.8. ⦁【Bitcoin Miner S21 XP】: Investment amount: $7,900, total net profit: $7,900 + $3,128.4. ⦁【Bitcoin Miner S21 XP】: Investment amount: $12,000, total net profit: $12,000 + $7,560. ⦁【Avalon Air Box – 40 feet】: Investment amount: $28,000, total net profit: $28,000 + $22,400.
Key Features of the PaladinMining Platform:
Fully Automated Mining: No technical setup required. Users simply register and select from available cloud mining plans.
Multi-Currency Support: Compatible with a wide range of assets including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), XRP, USDT, and more.
Web & Mobile Access: An intuitive user interface designed for both new and experienced users.
Green Mining Technology: PaladinMining is committed to carbon-neutral mining, operating global data centers powered by renewable energy.
Global Reach: The platform supports users across multiple regions with around-the-clock uptime and multilingual support.
PaladinMining’s cloud infrastructure is deployed through high-performance data centers across key international locations. The company has prioritized energy sustainability through its integration of renewable energy sources—part of its broader mission to align blockchain technology with environmentally responsible practices.
Driving the Next Generation of Crypto Infrastructure
The PaladinMining launch aligns with broader trends in the digital asset space, where decentralization, automation, and clean technology are reshaping how users engage with financial systems. By removing traditional mining complexities, PaladinMining offers a low-friction alternative for those looking to explore blockchain participation.
About PaladinMining
PaladinMining is a global cloud mining platform committed to providing accessible, secure, and environmentally responsible solutions for cryptocurrency mining. The company leverages intelligent automation, green energy infrastructure, and a user-first approach to help individuals worldwide engage in digital asset production with ease.
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IRVINE, CA., July 08, 2025 (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (Nasdaq: CETY) (the “Company” or “CETY”), a clean energy technology company offering power generation, waste to energy, battery storage, and heat to power solutions to deliver affordable, scalable, and eco-friendly energy, clean fuels, and alternative electricity for a sustainable future, is pleased to announce that its technologies should remain fully eligible for federal clean energy tax incentives following the passage of the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025.
Under the new legislation, projects utilizing CETY’s waste heat-to-power, biomass combined heat and power (CHP), and battery storage technologies should continue to qualify for the most Investment Tax Credits (ITC) and Production Tax Credits (PTC) established by the Inflation Reduction Act—up to 30% ITC or 1.5 cents per kilowatt-hour PTC—provided they meet updated requirements for zero greenhouse gas emissions, prevailing wage and apprenticeship standards.
“This legislation reinforces our competitive edge, said Kam Mahdi, CEO of CETY. “Unlike solar, wind, EV, or hydrogen projects, many of which face new limitations, our technologies remain fully supported. This positions CETY as a premier opportunity for shareholders seeking exposure to resilient, profitable clean energy solutions.”
The OBBBA retains incentives for technologies like CETY’s when:
Projects began construction by December 31, 2024, qualifying them under existing IRA-era credits.
New projects meet stricter requirements under Section 45Y (Clean Electricity Production Credit) and Section 48E (Clean Electricity Investment Credit), including:
Demonstrated zero or net-negative lifecycle greenhouse gas emissions
Compliance with prevailing wage and apprenticeship guidelines
Use of U.S.-sourced components to satisfy domestic content rules
No participation by prohibited foreign entities of concern
The updated tax credits will gradually phase down starting in 2033 and sunset by the end of 2035, creating a limited window for investors and developers to capitalize on these incentives.
“As the energy landscape shifts, our waste heat recovery, biomass CHP, power generation, and battery storage solutions are essential for industrial and commercial facilities aiming to cut emissions and operating costs,” Kam Mahdi added. “Whether it’s converting agricultural or forestry waste into clean energy through biomass systems, capturing waste heat from industrial processes to generate power, tapping geothermal resources for sustainable electricity, or providing reliable power and storage for high-demand applications like data centers and crypto mining operations, CETY stands ready to deliver cutting-edge technologies that meet—and exceed—the federal government’s latest standards. CETY also anticipates curing Nasadq price deficiency by Novenmber 3rd , 2025.”
About Clean Energy Technologies, Inc. (CETY)
Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. Our principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.
CETY’s common stock is currently traded on the Nasdaq Capital Market under the symbol “CETY.” For more information, visit www.cetyinc.com.
This summary should be read in conjunction with our annual report on Form 10-K for the year ending December 31, 2024, and our other periodic filings made with the Securities and Exchange Commission, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters, which filings can be located on the website of the Securities and Exchange Commission at www.sec.gov.
Safe Harbor Statement
This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate,” “plan,” “expect,” “estimate,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOUDERTON, Pa., July 08, 2025 (GLOBE NEWSWIRE) — Univest Financial Corporation (Nasdaq: UVSP), parent company of Univest Bank and Trust Co. and its insurance, investment and equipment finance subsidiaries, announced it will host a conference call to discuss its second quarter 2025 earnings on Thursday, July 24, 2025 at 9:00 a.m. Earnings are scheduled to be released after the close of the market on Wednesday, July 23, 2025.
Pre-registration Telephone participants may avoid any delays by pre-registering for the call using the following link.
Audio Dial in number: 1-833-470-1428 Access Code: 747843 Note: Participants who are unable to pre-register should dial in a few minutes prior to the start time.
Replay Dial in number: 1-866-813-9403 Replay Code: 563521 Available until: July 31, 2025
About Univest Financial Corporation Univest Financial Corporation (UVSP), including its wholly-owned subsidiary Univest Bank and Trust Co., Member FDIC, has approximately $8.0 billion in assets and $5.2 billion in assets under management and supervision through its Wealth Management lines of business at March 31, 2025. Headquartered in Souderton, Pa. and founded in 1876, the Corporation and its subsidiaries provide a full range of financial solutions for individuals, businesses, municipalities and nonprofit organizations primarily in the Mid-Atlantic Region. Univest delivers these services through a network of more than 50 offices and online at www.univest.net.
Source: United States Senator for Massachusetts – Elizabeth Warren
July 08, 2025
This bill would extend the Army’s right to repair policy to all the services, standing up for taxpayers and service members.
Bill Text (PDF) | Bill One-Pager (PDF)
Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Tim Sheehy (R-Mont.) introduced the Warrior Right to Repair Act of 2025, legislation that would require contractors to provide the Department of Defense (DoD) with access to technical data and materials the military needs to repair and maintain its own equipment.
The DoD has long relied on defense contractors to provide the U.S. military with a wide range of equipment. Contractors often set out terms for this equipment, from its cost to the necessary design requirements. Many of these contracts contain provisions that restrict DoD’s ability to conduct repairs, including provisions that limit the sharing of intellectual property and technical data with DoD, which leaves service members unable to repair their own equipment and waiting weeks or months for a contractor to perform repairs that service members could do themselves.
These restrictions have concerning implications for service members’ skills, sustainment costs, and readiness. Restricting service members from repairing their equipment often leads to higher sustainment costs and increases the risk of DoD being overcharged. The Navy was forced to fly contractors to ships at sea to perform simple fixes, Marines in Japan had to send engines back to the United States for repairs instead of fixing them on-site, and one contractor charged $900 a page for upgrades to its maintenance manuals for an Air Force aircraft used to provide air support to troops in battle.
Last month, Secretary of the Army Daniel Driscoll announced that the Army will ensure right to repair provisions are included in future Army contracts and will identify and propose contract modifications for right to repair provisions in current contracts. The Warrior Right to Repair Act of 2025 would extend the Army’s right to repair policy to all the services, standing up for taxpayers and service members.
“It’s common sense for members of our military to be able to fix their own weapons,” said Senator Warren. “Senator Sheehy and I are fighting to improve military readiness and save taxpayers billions. It’s about time we stood up to Pentagon contractors that are squeezing every last cent from us at the expense of our national security.”
“For decades, American service members have been forced to rely on a broken status quo to repair equipment on the battlefield, threatening our readiness and costing taxpayers billions,” said Senator Tim Sheehy. “Our warfighters – and the American public – deserve better, and I’m proud to lead this bipartisan legislation to streamline bloated bureaucracy, increase competition, and provide our warfighters with the quality and quantity of equipment they need to win the next fight.”
In May 2025, Senators Warren and Sheehy published a Fox News op-ed that underscored how right to repair restrictions imposed by defense contractors hurt the military’s ability to respond to threats and bloat the national defense budget by blocking service members from repairing weapons and equipment.
Specifically, the Warrior Right to Repair Act would:
Ensure contractors provide DoD with “fair and reasonable” access to repair materials, including parts, tools, and information, by ensuring DoD’s procurement contracts guarantee access, on fair and reasonable terms, to materials needed for service members to repair equipment and for services to compete for sustainment contracts.
Define “fair and reasonable access” as providing similar terms, conditions, and prices as those the contractor makes available to the authorized repair providers to allow for an even playing field.
Incorporate right to repair in current contracts by initiating a review to determine the contract modifications needed to remove repair restrictions that currently limit DoD’s ability to maintain and repair systems effectively and efficiently.
The legislation is endorsed by the Project On Government Oversight (POGO) and the U.S. Public Interest Research Groups (PIRG).
“This bill will strengthen America’s military readiness and cut wasteful spending by giving our service members the tools and authority to repair their own equipment,” said Dylan Hedtler-Gaudette, the interim Vice President for Policy and Government Affairs at the Project On Government Oversight. “When their essential equipment breaks down, our troops shouldn’t be forced to wait for a contractor to fix it at taxpayers’ expense. By ensuring the right-to-repair, this bill is a win for both national security and fiscal responsibility.”
Senator Warren has been a leader on right to repair in the military:
In June 2025, at a hearing of the Senate Armed Services Committee, Navy Secretary John Phelan told Senator Elizabeth Warren that he is a “huge supporter of right to repair” and expressed support for a bill guaranteeing the military can repair its own equipment and requiring contractors to offer repair materials for a fair and reasonable price.
In May 2025, Senators Elizabeth Warren and Tim Sheehy called for every service of the military to follow the example set by Army Secretary Dan Driscoll and ensure the military has the right to repair the equipment it owns. The senators also announced a new bipartisan bill to make the right to repair policies permanent.
In May 2025, at a hearing of the Senate Armed Services Committee, Air Force Secretary Troy E. Meink said he agreed with Senator Elizabeth Warren and fully supported making the right to repair a strategic priority for the Air Force. He also agreed on the need to update the branch’s policies to include the right to repair in contracts service-wide and prevent defense contractors from price-gouging the military.
In May 2025, at a hearing of the Senate Armed Services Committee, Senator Elizabeth Warren uplifted how the right to repair can help the U.S. military and allied forces promote innovation and reduce costs.
In May 2025, Secretary of the Army Daniel P. Driscoll announced that the Army will ensure right to repair provisions are included in future Army contracts, after pressure from Senator Warren.
In April 2025, Senator Elizabeth Warren secured a commitment from Mr. Michael Cadenazzi, nominee to be the next Assistant Secretary of Defense for Industrial Base Policy, to support AI competition and innovation in defense contracting.
In March 2025, at a hearing of the Senate Armed Services Subcommittee on Readiness and Management Support, Senator Elizabeth Warren questioned General Randall Reed, Commander for Transportation Command, about the importance of the military’s ability to have the right to repair its own equipment.
In February 2025, at a hearing of the Senate Armed Services Committee, Senator Elizabeth Warren questioned Mr. John Phelan, the nominee to be Secretary of the Navy, about his views on ensuring the Navy’s right to repair its own equipment – one of Senator Warren’s priorities.
In January 2025, at a hearing of the Senate Armed Services Committee, a Palantir Executive agreed with Senator Elizabeth Warren that legal loopholes should not enable companies to price-gouge the military.
In January 2025, Senator Elizabeth Warren questioned Mr. Dan Driscoll, nominee for Secretary of the Army, about his views on enhancing the Army’s right to repair its own equipment and his commitments to address the revolving door between the Pentagon and contractors.
In December 2024, Senator Elizabeth Warren and Representative Marie Gluesenkamp Perez (D-Wash.) introduced the Servicemember Right-to-Repair Act to increase military readiness and cut costs by allowing servicemembers to repair their own equipment.
In September 2024, Senator Elizabeth Warren wrote to the Defense Department and to the defense contractor industry regarding the costly restrictions imposed on the Department of Defense that bar the military from repairing its own military equipment and instead force it to pay billions of dollars extra to military contractors.
In July 2024, Senator Elizabeth Warren included a provision in the Senate Fiscal Year 2025 NDAA that would require contractors to provide DoD with “fair and reasonable” access to repair materials with a bipartisan committee vote of 21-4.
Secretary for Culture, Sports & Tourism Rosanna Law visited two Bordeaux wineries in France today, exploring potential synergies to incorporate Bordeaux wines into Hong Kong’s wine tourism initiatives.
She toured Château L’if and Château Le Pin to deepen her understanding of Bordeaux’s winemaking traditions of the country.
A day prior to the winery tour, she met President of the Conseil Interprofessionnel du Vin de Bordeaux (CIVB) Allan Sichel. The CIVB is responsible for promoting Bordeaux wines globally.
Miss Law highlighted the Hong Kong Special Administrative Region Government’s efforts to host signature mega events, including the annual Hong Kong Wine & Dine Festival, which provides unique experiences for visitors.
Miss Law also met Mayor of Bordeaux Pierre Hurmic, Deputy Mayor of Bordeaux Céline Papin, and President of the Bordeaux Tourism & Conventions Office Brigitte Bloch, indicating to them the wishes of Hong Kong to build on the unique brand of the Wine & Dine Festival to foster cultural exchanges and strengthen bilateral ties.
The meeting was followed by discussions with representatives of Great Wine Capitals Global Network, Bordeaux Chamber of Commerce & Industries etc. and another meeting with France’s Minister for Tourism Nathalie Delattre.
The itinerary yesterday also covered a guided tour of La Cité du Vin, Bordeaux’s iconic cultural centre and wine museum dedicated to promoting the universal culture of wine.
The culture chief will conclude the visit to France and depart for Hong Kong on July 9.
The Motor Vehicle Open Recall Notice and Fair Compensation Act (A4380/S3309), a critical piece of legislation aimed at ensuring fair wages for automotive dealership mechanics across the state of New Jersey, passed both the Senate and Assembly chambers with unanimous bipartisan support and now heads to New Jersey Gov. Phil Murphy’s desk for his signature. The New Jersey State Council of Machinists and IAM Union District 15 helped lead the lobbying efforts for this legislation.
The IAM represents hundreds of skilled automotive technicians throughout New Jersey.
“The passage of this legislation is a major victory for our members working at automobile dealerships,” said IAM Union District 15 Area Director Cristino Vilorio, who also serves as the IAM’s New Jersey State Council President. “Automotive technicians are the backbone of our vehicle maintenance system, and this legislation recognizes their expertise and hard work. I want to thank Senate President Nicholas Scutari, Senate Republican Leader Anthony Bucco, Assembly Speaker Craig Coughlin, and Assembly Republican Leader John DiMaio for their leadership on this legislation. This is a game-changer for New Jersey’s auto industry and a proud moment for our members who are automotive technicians.”
This bipartisan legislation will require thousands of hard-working automotive dealership mechanics across the state to receive the same wages for warranty repair services as other repair services, improving the quality of life for them, their families, and their communities.
“The passage of this legislation will benefit our members and the entire New Jersey auto industry,” said IAM Eastern Territory General Vice President David Sullivan. “I want to thank IAM Union District 15 Directing Business Representative Norm Shreve, IAM Union District 15 Area Director Cristino Vilorio, and the New Jersey State Council for their efforts to help pass this bill. Our members will now receive fair and just compensation for their work.”
The post New Jersey Legislature Passes IAM-Backed Fair Wages for Automotive Technicians Legislation appeared first on IAM Union.
SAN DIEGO – Jacobo Melcer, a Bonita resident and businessowner, pleaded guilty in federal court today, admitting that he conspired with others to defraud Medicare of millions of dollars and to pay unlawful kickbacks for patient referrals.
According to his plea agreement, Melcer submitted more than $5.88 million in false and fraudulent claims to Medicare through his ownership and operation of two durable medical equipment (DME) companies, which sold orthotics – including back, wrist, and knee braces – to Medicare beneficiaries.
Melcer admitted that in operating the DME companies, he paid unlawful kickback payments to multiple companies for the referral of Medicare beneficiaries and prescriptions for DME, knowing that the prescriptions were signed by physicians who had no legitimate doctor-patient relationship with the beneficiary and had not conducted a legitimate medical evaluation of the beneficiary.
In total, Melcer admitted that he paid more than $227,000 in kickbacks, and fraudulently billed Medicare $5,885,382 and was paid $3,479,303. As part of his guilty plea, Melcer agreed to forfeit and pay restitution in the amount of $3,479,303.
Melcer further admitted that he created and sold two DME companies to a co-conspirator for the sole purpose of putting the ownership under a nominee owner to conceal the true ownership from Medicare due to Medicare suspending the co-conspirator as a Medicare provider and the co-conspirator’s inability to continue to submit claims to Medicare.
Melcer’s sentencing is scheduled for October 10, 2025. The case is being prosecuted by Assistant U.S. Attorney Blanca Quintero of the Southern District of California.
DEFENDANT Case Number 25cr2568-DMS
Jacobo Melcer Age: 85 Bonita, CA
SUMMARY OF CHARGES
Conspiracy to Commit Health Care Fraud and Pay Illegal Remunerations – Title 18, U.S.C., Section 371
Maximum penalty: Five years in prison and $500,000 fine
INVESTIGATING AGENCIES
Federal Bureau of Investigation
U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG)
*The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.
SAN DIEGO – Jacobo Melcer, a Bonita resident and businessowner, pleaded guilty in federal court today, admitting that he conspired with others to defraud Medicare of millions of dollars and to pay unlawful kickbacks for patient referrals.
According to his plea agreement, Melcer submitted more than $5.88 million in false and fraudulent claims to Medicare through his ownership and operation of two durable medical equipment (DME) companies, which sold orthotics – including back, wrist, and knee braces – to Medicare beneficiaries.
Melcer admitted that in operating the DME companies, he paid unlawful kickback payments to multiple companies for the referral of Medicare beneficiaries and prescriptions for DME, knowing that the prescriptions were signed by physicians who had no legitimate doctor-patient relationship with the beneficiary and had not conducted a legitimate medical evaluation of the beneficiary.
In total, Melcer admitted that he paid more than $227,000 in kickbacks, and fraudulently billed Medicare $5,885,382 and was paid $3,479,303. As part of his guilty plea, Melcer agreed to forfeit and pay restitution in the amount of $3,479,303.
Melcer further admitted that he created and sold two DME companies to a co-conspirator for the sole purpose of putting the ownership under a nominee owner to conceal the true ownership from Medicare due to Medicare suspending the co-conspirator as a Medicare provider and the co-conspirator’s inability to continue to submit claims to Medicare.
Melcer’s sentencing is scheduled for October 10, 2025. The case is being prosecuted by Assistant U.S. Attorney Blanca Quintero of the Southern District of California.
DEFENDANT Case Number 25cr2568-DMS
Jacobo Melcer Age: 85 Bonita, CA
SUMMARY OF CHARGES
Conspiracy to Commit Health Care Fraud and Pay Illegal Remunerations – Title 18, U.S.C., Section 371
Maximum penalty: Five years in prison and $500,000 fine
INVESTIGATING AGENCIES
Federal Bureau of Investigation
U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG)
*The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.
DENVER – An indictment was unsealed on Wednesday in Denver charging Steve Randall Howe with twenty counts of bank fraud and seven counts of money laundering in connection with a scheme to defraud the United States Small Business Administration (SBA).
According to the indictment, between April 2020 and January 2022, Howe obtained more than $1.2 million in Paycheck Protection Program (PPP) loans on behalf of six businesses he owned. To obtain the loans, Howe submitted false information and fabricated documents to lenders to make it appear that those companies were eligible for PPP loans when they were not. Howe then used the loan money for ineligible expenses, like purchases of residential properties, retail purchases, travel expenses, and transfers of money to China. The indictment alleges that Howe then applied for, and received, forgiveness on each loan, never making a single payment on them.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted in March 2020 and was designed to provide emergency financial assistance to Americans dealing with the economic impact of the COVID-19 pandemic. The CARES Act created the PPP, a program administered by the SBA that provided loans to small businesses to retain workers, maintain payroll, and pay for certain other expenses consistent with PPP rules. Small businesses could subsequently request forgiveness of the loan after certifying the loan was used to pay for eligible costs.
The defendant made his initial appearance on July 2, 2025, in Denver in front of United States Magistrate Judge N. Reid Neureiter.
The charges contained in the indictment are allegations, and the defendant is presumed innocent unless and until proven guilty.
This case is being investigated by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation. The case is being prosecuted by Assistant United States Attorneys Taylor Glogiewicz and Craig Fansler.
Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.
DENVER – An indictment was unsealed on Wednesday in Denver charging Steve Randall Howe with twenty counts of bank fraud and seven counts of money laundering in connection with a scheme to defraud the United States Small Business Administration (SBA).
According to the indictment, between April 2020 and January 2022, Howe obtained more than $1.2 million in Paycheck Protection Program (PPP) loans on behalf of six businesses he owned. To obtain the loans, Howe submitted false information and fabricated documents to lenders to make it appear that those companies were eligible for PPP loans when they were not. Howe then used the loan money for ineligible expenses, like purchases of residential properties, retail purchases, travel expenses, and transfers of money to China. The indictment alleges that Howe then applied for, and received, forgiveness on each loan, never making a single payment on them.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted in March 2020 and was designed to provide emergency financial assistance to Americans dealing with the economic impact of the COVID-19 pandemic. The CARES Act created the PPP, a program administered by the SBA that provided loans to small businesses to retain workers, maintain payroll, and pay for certain other expenses consistent with PPP rules. Small businesses could subsequently request forgiveness of the loan after certifying the loan was used to pay for eligible costs.
The defendant made his initial appearance on July 2, 2025, in Denver in front of United States Magistrate Judge N. Reid Neureiter.
The charges contained in the indictment are allegations, and the defendant is presumed innocent unless and until proven guilty.
This case is being investigated by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation. The case is being prosecuted by Assistant United States Attorneys Taylor Glogiewicz and Craig Fansler.
Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.
Post Office Minister responds to Horizon IT Inquiry report
Gareth Thomas spoke to Parliament after report outlined scandal’s human impact and looking at the redress schemes which have been put in place in response.
Madam Deputy Speaker, Sir Wyn Williams has today released the first volume of his report into the Horizon scandal, which caused so much harm to so many innocent people.
The fearless and diligent work of his Inquiry has, I believe, won the trust and admiration of postmasters. The Inquiry has asked penetrating questions of a large number of witnesses and has scrutinised more than two million pages of evidence.
The whole House I know recognises the bravery of the postmasters who fought against enormous odds to see their cause recognised. Sir Wyn’s report reminds us that blameless people were impoverished. Bankrupted. Stressed beyond belief. Lost their jobs, their marriages, their reputations, their mental health. In some cases, lost their lives.
I am sure that the whole House will share my gratitude to Sir Wyn and his team for their work so far. This is only the first volume of their final report, spelling out the scandal’s human impact and looking at the redress schemes which have been put in place in response.
A second volume will in due course deal with the causes of the scandal, and how repetition can be avoided.
To be clear, I am very sympathetic to Sir Wyn’s 19 recommendations today. Clearly, a number of them require careful consideration. We will respond to them promptly as some concern the ongoing delivery of Horizon redress schemes. Sir Wyn has set us a deadline of 10 October, and we will meet it.
The House will see that Sir Wyn has accepted that “the Post Office, the Department and Ministers continue to adhere to the aims of providing financial redress, which is full, fair and prompt”. He also concludes that the majority of people who have accepted offers under the GLO scheme “will have done so because, for them, the offer was full and fair”. That said, Sir Wyn makes some understandable criticisms – especially of the Horizon Shortfall Scheme – which we will need to study closely and address.
We inherited a compensation process which was widely seen as too slow, adversarial and legalistic. Well over four years after the first High Court case exposed the scandal, only 2,500 postmasters had had final settlements.
There were clearly significant gaps in the compensation process and many victims had not come forward. Indeed, there was no compensation scheme in place for those postmasters whose convictions had been overturned by Parliament.
A year ago, Government had paid £236 million in redress. We have now quadrupled that to nearly £1.1 billion. We have launched a compensation scheme for postmasters who have had their convictions overturned; the Horizon Convictions Redress Scheme and have merged Post Office’s compensation arrangements for overturned convictions into it. And through the Post Office, we have delivered a £75,000 fixed sum offer to over 4,200 postmasters who opted for it.
We have also launched an independent process to allow people to appeal their HSS settlements or offers. This should provide – as Sir Wyn says in his report – an “opportunity to put right any failures to deliver redress which is full and fair” for HSS victims; and begun discussions with Fujitsu on their contribution to the costs of the scandal.
As the House knows and as Sir Wyn’s report underlines further today, there is still a lot more to do. I know that those postmasters who have yet to agree final compensation are frustrated with the delay: so am I.
We have been consulting regularly with the Horizon Compensation Advisory Board and others on what more we can do to improve redress. Sir Wyn’s recommendations are very helpful in that regard. Two of his recommendations address issues which we have been already working on across government and with the Advisory Board.
And I can confirm that we accept Sir Wyn’s recommendation that claimants should be able to bank the best offer they get from the GLO process and should not put it at risk if they choose to go to the independent panel.
Secondly, we will provide redress for family members of postmasters who suffered because of the scandal. I have met the group Lost Chances for Postmaster Children who have campaigned with considerable courage on this issue.
Sir Wyn rightly recognises that designing a suitable compensation scheme for family members raises some very difficult issues. Nonetheless, we want to look after those family members who suffered most – meeting Sir Wyn’s recommendation that we should give – and I quote – “redress to close family members of those most adversely affected by Horizon”.
Given these challenges, we will now discuss the details of how a scheme should be run with claimants’ lawyers, the independent Advisory Board and the Lost Chances group. It will be open to close family members of existing Horizon claimants who themselves suffered personal injury – including psychological distress – because of their relative’s suffering. Other than in exceptional circumstances, we will need contemporaneous written evidence of that personal injury.
There are some fundamental lessons to be learned which Sir Wyn points to, about how compensation following wrongdoing on this scale should be delivered in future.
In particular, the Post Office should never have been allowed to run it. Decisions on funding should have been made much more quickly. And it should not have needed the ITV drama to stimulate action to overturn hundreds of unjust convictions.
We cannot now turn back the clock to fix those fundamental mistakes. We must instead address two challenges. The first is to make sure that if there is ever another terrible scandal like this one, and all of us will sincerely hope that there isn’t, that the victims do not need to bring a traumatic court case to expose it.
The second challenge if such another scandal happens, Government is set up to offer trusted redress from the very start. Sir Wyn argues that there should be a standing public body to deliver redress in any further scandal. I have a considerable amount of sympathy with that argument, but clearly we shall need to analyse the options fully before we commit to it.
We will reflect on how to address those twin challenges and will bring our conclusions back to the House.
Madam Deputy Speaker, we can never recompense a person properly for their freedom wrongly bring denied them. The humiliation of being wrongly accused. Of seeing your loved ones in profound distress or worse. Or recompense someone for their good reputation being taken from them.
I cannot assuage the anger of the victims. Nor will the anger I feel on their behalf ever be assuaged.
But we are determined to do more on redress and beyond and to do it quickly to give more of the victims of this appalling scandal at least a measure of the peace they so rightly deserve.
Source: Rosneft – An important disclaimer is at the bottom of this article.
The cumulative oil production of Slavneft-Krasnoyarskneftegaz (a joint venture of Rosneft and Gazprom Neft) has reached 10 million tons since the start of development of licensed areas located in Krasnoyarsk Krai.
This indicator was achieved thanks to the advanced launch of the main production facilities, the successful implementation of research work, and the introduction of innovative approaches in development and production.
The Kuyumbinskoye oil field is located in the most ancient fractured rocks on the planet of the Riphean period, the age of which exceeds 1 billion years. Careful development of geological exploration projects using digital software packages has ensured the high success of exploratory drilling over the past seven years.
A powerful production complex has been created at the Kuyumbinsky field, including more than 150 facilities, including a central oil collection point, an acceptance point, a tank farm, and 450 km of oil collection pipelines. Production is provided by more than 360 wells, most of which are horizontal. The oil prepared to commercial quality is transported to consumers via the Kuyumba-Taishet main oil pipeline and then to the Eastern Siberia – Pacific Ocean pipeline system. 125 km of roads, 240 km of power lines, and energy centers have been built at the field. Dormitories and shift camps have been built for comfortable living of oil workers.
Along with the development of the Kuyumbinskoye field, Slavneft-Krasnoyarskneftegaz is conducting pilot work at the Tersko-Kamovsky license area. High starting flow rates have been obtained at the wells. Commissioning of a 58 km pipeline to the central collection point of the Kuyumbinskoye field will create opportunities to increase the production of Evenki oil by 20%. Using the existing infrastructure of the Kuyumbinskoye field will allow for a synergistic effect and reduce the development time of the Tersko-Kamovsky area.
Slavneft-Krasnoyarskneftegaz employs over 1.8 thousand specialists, 60% of whom are residents of the Krasnoyarsk Territory, including remote northern territories. In 2025, the company entered the top 3 best employers in the region in the category “Energy and raw materials extraction”.
Reference:
OOO Slavneft-Krasnoyarskneftegaz, a joint venture between Rosneft (the project operator) and Gazprom Neft, holds licenses for the right to geological study, exploration and production of four license areas, as well as to study the Podporozhny area, located in the Yurubcheno-Tokhomskaya oil-bearing zone on the territory of the Evenki municipal district of Krasnoyarsk Krai.
Department of Information and AdvertisingPJSC NK RosneftJuly 8, 2025
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.
Tampa, Florida –U.S. District Judge Virginia M. Hernandez Covington has sentenced Zachary Rugen (34, Tampa) to 5 years in federal prison for wire fraud and possessing a firearm as a convicted felon. As part of the sentence, the court also entered an order of forfeiture in the amount of $440,755.18. Rugen pleaded guilty on April 8, 2025.
According to testimony and court documents, between October 2020 and March 2022, Rugen was employed as the personnel director for a small company in St. Petersburg, Florida. Rugen exploited that role to embezzle at least $503,372.01 from the company. He used his access to the employer’s payment processing system to direct funds intended for vendors and contractors to bank accounts he controlled. Rugen also paid some of his outstanding debts with company funds. To cover the fraud scheme, Rugen electronically submitted falsified and fraudulent payment invoices. Rugen used the ill-gotten funds to live lavishly, including taking expensive vacations and gambling, and for his personal expenses. During the sentencing hearing, the victim-company’s chief operating officer testified that the fraud caused substantial financial hardship from which it will take the company at least five years to recover. As a result of the embezzlement, one of the company’s vendors nearly went out of business.
During the investigation of Rugen’s embezzlement, law enforcement learned that Rugen was also illegally possessing two firearms. Rugen was prohibited from possessing the firearms due to a prior felony conviction involving impersonating a law enforcement officer.
This case was investigated by the Federal Bureau of Investigation and the Tampa Police Department. It was prosecuted by Assistant United States Attorneys Tiffany Fields and Jennifer L. Peresie.
BLUEFIELD, W.Va. – Travis Lee Harry, 40, of Kernersville, North Carolina, was sentenced today to three years of federal probation, including 90 days on home detention, and fined $4,000 with interest for making false statements under oath in a bankruptcy case.
According to court documents and statements made in court, Harry had owned and lived in a house in Princeton, West Virginia, which he sold on December 23, 2019. On February 5, 2020, Harry filed for Chapter 7 bankruptcy in United States Bankruptcy Court for the Southern District of West Virginia. On the Statement of Financial Affairs he submitted as part of the bankruptcy filing, and which he signed under penalty of perjury, Harry falsely stated that he and his spouse co-owned the house and sold it together. At a March 6, 2020, meeting of creditors as part of the bankruptcy proceeding, Harry falsely testified under oath that he had co-owned the house with his spouse. Harry admitted as part of his guilty plea that he solely owned the house, and that his spouse was never a co-owner. Harry further admitted that he falsely indicated during the creditors’ meeting that all of the proceeds from selling the house went to pay taxes.
Acting United States Attorney Lisa G. Johnston made the announcement and commended the investigative work of the Federal Bureau of Investigation (FBI). The United States Trustee’s Charleston field office, which serves West Virginia, made the criminal referral of this case to the U.S. Attorney’s Office. The United States Trustee Program is a component of the Department of Justice whose mission is to promote the integrity and efficiency of the bankruptcy system for the benefit of all stakeholders — debtors, creditors and the public.
Senior United States District Judge David A. Faber imposed the sentence. Assistant United States Attorney Jonathan T. Storage prosecuted the case.
A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 1:24-cr-143.
CHICAGO — A California businessman has pleaded guilty to a federal fraud charge for fraudulently obtaining more than $14 million in small business loans under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act.
DARREN CARLYLE SADLER participated in a scheme to fraudulently apply for loans pursuant to the Paycheck Protection Program (“PPP”), which was created by the CARES Act to provide financial relief for small businesses during the Covid-19 pandemic. A PPP loan allowed for the interest and principal to be forgiven if businesses spent a certain amount of the proceeds on essential expenses, such as payroll. Sadler admitted in a plea agreement that in 2020 he submitted and caused the submission of at least 63 PPP loan applications for himself and his clients. The applications falsely represented the number of employees, if any, and the average monthly payroll of the purported businesses. The false applications resulted in the issuance of more than $14 million in loan funds to Sadler and his clients. Sadler also received more than $1.9 million in fees from clients for fraudulently obtaining the loans on their behalf.
Sadler used the fraud proceeds to rent a villa for several months during the pandemic and to travel across the country on private jets to meet clients at bank branches to secure fund transfers. He also purchased luxury vehicles, including a Rolls Royce, multiple Mercedes-Benzes, and a Land Rover, and purchased designer clothing, a luxury watch, and numerous meals at expensive restaurants.
Sadler, 38, of Costa Mesa, Calif., pleaded guilty on Monday to a federal wire fraud charge, which is punishable by up to 20 years in federal prison. U.S. District Judge Thomas M. Durkin has not yet set a sentencing date.
The guilty plea was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI. The investigation was worked jointlywith the U.S. Small Business Administration Office of Inspector General and the U.S. Postal Inspection Service. The government is represented by Assistant U.S. Attorney Kartik K. Raman.
EAST ST. LOUIS, Ill. – A former bank president and contractor appeared in federal court and admitted to committing bank fraud by conspiring together to falsify loan applications and obtain funds.
Francis Eversman, 74, of Collinsville, and Gregg Crawford, 65, of Columbia, each pleaded guilty to conspiracy to commit bank fraud for their roles in a scheme that extended from 2011 to 2020.
“The integrity of our banking system relies on the integrity of loan officers and applicants,” said U.S. Attorney Steven D. Weinhoeft. “We will continue to work closely with our law enforcement partners to ensure that those who violate their fiduciary duties and those who obtain loans through fraud are brought to justice.”
According to court documents, Eversman was a senior loan officer at former Tempo Bank in Trenton. Crawford was the owner of construction companies in southern Illinois. Eversman and Crawford admitted in district court that Crawford recruited straw purchasers to act as nominal loan applicants on what were often highly overvalued properties.
“Every American citizen deserves to walk into their bank and trust the people behind the counter. In southern Illinois, these people are usually our neighbors and friends, people that we trust with our money and wellbeing. The defendants in this case violated that trust through schemes aimed to self-serve and increase wealth,” said FBI Springfield Assistant Special Agent in Charge Karen Marinos. “FBI Springfield and our partners with the Office of Inspector General – Treasury and the Office of the Comptroller of the Currency will always look out for the wellbeing of the citizens of Illinois and ensure their money is being put in the hands of people they can truly trust.”
His brother-in-law, Eversman, steered these loans through the approval process. Crawford then used the loan proceeds for other purposes. In some cases, Crawford provided fake lease agreements to purport to show rental income from subject properties. When at audit by the Office of the Comptroller of the Currency discovered the suspect loans, Crawford instructed a straw purchaser to provide investigators with false information.
Both Crawford and Eversman waived their right to be indicted by a grand jury and pled guilty to an Information.
Conspiracy to commit bank fraud carries penalties of up to 30 years in prison, five years of supervised release and fines up to $1 million. Sentencing is scheduled for Oct. 14, 2025.
The investigation was conducted by the FBI Springfield Field Office, the Office of Inspector General – Treasury Department, and the Office of the Comptroller of the Currency. Assistant U.S. Attorney Kevin Burke is prosecuting the case.
St. George’s, Bermuda, July 08, 2025 (GLOBE NEWSWIRE) — Relm Insurance (‘Relm’), the leading insurer for emerging and innovative industries, today announced the launch of OMEGAFINTECH and NOVAFINTECH, which eliminate coverage gaps within streamlined policies built for today’s financial innovators.
Modern fintechs face growing risks — from cyberattacks to regulatory scrutiny — yet still rely on fragmented insurance cobbled together from legacy providers. This patchwork approach often leads to costly gaps in coverage and uncertainty at claim time.
Relm’s new product suite solves this problem by combining critical coverages into a unified structure:
OMEGAFINTECH
Built for companies that deliver financial services through technology (e.g. digital banks, crypto exchanges, payment platforms), and includes integrated coverage for:
Tech and AI liability
Cybersecurity events
Financial and professional services (E&O)
Regulatory investigations and compulsory limits (e.g. PSD2 compliance in the EU)
Financial crime and fraud
Management liability
24/7 incident response team access
NOVAFINTECH
Tailored for fintech enablers — companies that build, supply, or power financial technologies without offering financial services themselves. It Includes all OMEGAFINTECH protections, minus financial services and management liability, keeping coverage relevant and cost-effective.
“Many fintechs are scaling fast and taking on complex risk — but traditional insurance hasn’t kept pace,” said Joseph Ziolkowski, CEO and Founder of Relm Insurance. “With OMEGAFINTECH and NOVAFINTECH, we’re helping them close critical gaps and build resilience where it matters most.”
“Findings from our research and stakeholder engagement suggested there was a clear need for policies that reflect the reality of how modern fintechs operate,” said Claire Davey, Relm’s Head of Product Innovation and Emerging Risk. “OMEGAFINTECH and NOVAFINTECH are the result of that process — cohesive, technically sound coverages that address overlapping exposures in a single structure, helping our clients navigate risk with fewer gaps and greater clarity.”
Relm Insurance Ltd. (Relm) is a Bermuda-domiciled specialty insurance carrier that supports emerging industries driving innovation and next-generation technologies. Launched in 2019, Relm offers a wide range of insurance products to high-growth markets, including digital assets, blockchain, AI, biotech, and the space economy. With a Financial Stability Rating of A (Exceptional) from Demotech, Relm is widely recognised for its industry expertise and solutions-driven approach, making it a trusted risk partner for businesses operating at the frontier of technological innovation.
NEW YORK and LONDON and STOCKHOLM and DUBAI, United Arab Emirates, July 08, 2025 (GLOBE NEWSWIRE) — KingsRock Advisors, LLC (“KingsRock”), an independent global advisory firm, announced today the formation of a new Advisory Board, a series of new Senior Hires, additional Senior Advisors joining us, and an inaugural Capital Raise. This expansion aims to accelerate the growth of KingsRock’s capital solutions and corporate finance business, across industries, geographies, and capital structures.
We are pleased to welcome the following Senior Banking Executives who have agreed to serve as Members of our new KingsRock Advisory Board:
Dr. Josef Ackermann
Zurich, former Chairman of the Management Board, Deutsche Bank
Fred Brettschneider
New York, former Head of Deutsche Bank Global Markets Americas
Yassine Bouhara
Dubai, CEO Tell Group, former Global Head of Deutsche Bank Global Equities
Kevin Parker
New York, CEO SICM, former CEO of Deutsche Asset Management
Bernardo Parnes
Sao Paolo, CEO of One Partners, former CEO of Deutsche Bank Latin America
Jon Vaccaro
Darien, Founder V20 Group, former Global Head of Deutsche Bank CRE
Seth Waugh
Palm Beach, former CEO of Deutsche Bank Americas, former Chairman of PGA
We are pleased to welcome the following Senior Investment Bankers who have joined KingsRock recently inthe US and EMEA as Managing Directors, with further expansion planned:
David Barcus
New York, former BNP and Raymond James
John Doyamis
New York, former EBG, and Bear Stearns
Leo-Hendrik Greve
Amsterdam, former ING, Citi and MS
Rony Jawhar
Dubai, former Arqaam and Deutsche Bank
Bray Kelly
New York, former JBK Capital and UBS
Joe Lovrics
Madrid, former Societe General, Citi, and BNP
Bill Miller
New York, Commerce Street, TPG Sixth Street, Citi
Hans Narberhaus
Madrid, former Deutsche Bank
Laurent Quelin
London, former Chenavari, and CS
Francois-Louise Ricard
Paris, former Groupe Caisse des Depots, MS and SG
Jorge de los Rios
Madrid, former Santander, S&P and Lehman
Mike Turnbull
London, former StormHarbour, BAML and MS
Andrew Whittaker
New York, Lazard, GSAM and Lehman
In Q2 we were also joined by Gregor Bates, Associate, London, and Analysts Matt Farrell, Nikita Spivakov, and Tim O’Callaghan in New York.
We also welcome George Parker, New York, as Senior Advisor for Operations.
This team’s decades of investment banking experience across Origination, Advisory, Capital Markets, Structuring, and Leveraged Finance should help propel our growth and strategy to originate, structure, and distribute private capital markets transactions and provide strategic advisory services. Our goal is to further strengthen KingsRock’s ability to serve issuer clients and the private credit, special situations and private equity investor universe with ever more tailor-made capital solutions and investment opportunities.
Expansion of our Global Network of Senior Advisors
We are also pleased to announce that we now have 120 (one hundred and twenty) Senior Advisors from approximately 50 countries around the world. Each is a truly Independent Advisor with his or her own interest and focus, some with companies that we have partnered with, etc. Many of these advisors comprised the most senior leadership of Deutsche Bank and oversaw a wide range of functions, from CEO and six other former Management Board Members, to Country Heads and Divisional Heads of M&A, Capital Markets, and Heads of Sales, Coverage, Industry Groups, Economists, Operations, etc.
This unique Global Network of former colleagues and friends as our Senior Advisors allows KingsRock access to key decision makers nearly anywhere in the world, spanning companies, institutional investors, financial institutions, and the public sector. It also offers mutual benefits in deal making through origination, execution, and distribution, be it a cross-border M&A transaction or bespoke institutional capital raising deal.
We are also pleased to Announce a successful close of our inaugural third-party capital raise for KingsRock Advisors LLC, to support our expansion and elevate our investment banking boutique, with further strategic growth planned. We thank all of our investors for their strong support.
“We are excited to welcome our new Senior Advisory Board Members, our new Managing Directors, Associate and Analyst colleagues, and our Senior Advisors network to KingsRock as we continue to expand the global reach of our capital solutions business. Together with our inaugural capital raise to boost and increase the visibility of our platform, successfully concluded in Q2, we are truly thrilled with the progress our young firm is making to serve our clients and support our ambitious growth. In the near term, we will share more details about our expansion across our financial services offering,” said Håkan Wohlin, Founder & Managing Partner, and Louis Jaffe, Co-Founder & Managing Partner.
KingsRock Advisors, LLC headquartered at 900 Third Avenue, New York, NY 10022, is an independent global advisory firm, with securities offered by KingsRock Securities LLC, a FINRA member firm and SIPC, as well as KingsRock Advisors UK Ltd and KingsRock Advisors Europe AB, both wholly owned subsidiaries of KingsRock Advisors LLC.
Founded in 2020, KingsRock comprises a team of approximately 40 full time professionals who advise on a wide range of private capital markets transactions including debt, hybrid, equity and M&A covering structures from vanilla to highly structured. The team collectively has worked on thousands of transactions across various industry sectors worldwide. Clients include private equity and private credit firms, corporations, financial institutions, government-related entities, and institutional investors.
KingsRock Advisors offers the experience and global reach of a large firm, combined with the structural agility and creativity of a boutique. An independent advisory firm with a global network that provides unconflicted strategic and financial advisory services, along with innovative capital solutions and special situations. The firms’ bankers excel in complex transactions and deliver swift results often where large banks and traditional sources of financing do not have the ability to engage. KingsRock advisors operates across all major industry sectors and is supported by a global network of 120 independent Senior Advisors across 50 countries, who bring decades of deal making experience.
Disclaimer:
Securities offered by KingsRock Securities LLC, a FINRA member firm and a member of SIPC., a wholly owned subsidiary of KingsRock Advisors LLC. • 900 Third Avenue, 10th Floor • New York, NY 10022.
KingsRock Advisors UK Ltd is a private limited company registered in England and Wales with registration number 15240371. KingsRock Advisors UK Ltd (FRN 1006329) is an Appointed Representative under Bluegrove Capital Management Ltd (FRN: 960363), which is authorised and regulated by the Financial Conduct Authority.
KingsRock Advisors Europe AB is incorporated in Sweden (EU), with registered office at Grev Turegatan 14, 114 46 Stockholm, Sweden, and is a tied agent of Svensk Värdepappersservice i Stockholm AB, a Swedish investment firm authorized and regulated by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) under the Swedish Securities Market Act (Sw. lag (2007:528) om värdepappersmarknaden).
This message is provided for information purposes and does not constitute an invitation, solicitation or offer to buy or sell any securities or investment. Neither KingsRock Securities, LLC nor its affiliates provide accounting, tax or legal advice; such matters should be discussed with your advisors and/or counsel.
NEW YORK and LONDON and STOCKHOLM and DUBAI, United Arab Emirates, July 08, 2025 (GLOBE NEWSWIRE) — KingsRock Advisors, LLC (“KingsRock”), an independent global advisory firm, announced today the formation of a new Advisory Board, a series of new Senior Hires, additional Senior Advisors joining us, and an inaugural Capital Raise. This expansion aims to accelerate the growth of KingsRock’s capital solutions and corporate finance business, across industries, geographies, and capital structures.
We are pleased to welcome the following Senior Banking Executives who have agreed to serve as Members of our new KingsRock Advisory Board:
Dr. Josef Ackermann
Zurich, former Chairman of the Management Board, Deutsche Bank
Fred Brettschneider
New York, former Head of Deutsche Bank Global Markets Americas
Yassine Bouhara
Dubai, CEO Tell Group, former Global Head of Deutsche Bank Global Equities
Kevin Parker
New York, CEO SICM, former CEO of Deutsche Asset Management
Bernardo Parnes
Sao Paolo, CEO of One Partners, former CEO of Deutsche Bank Latin America
Jon Vaccaro
Darien, Founder V20 Group, former Global Head of Deutsche Bank CRE
Seth Waugh
Palm Beach, former CEO of Deutsche Bank Americas, former Chairman of PGA
We are pleased to welcome the following Senior Investment Bankers who have joined KingsRock recently inthe US and EMEA as Managing Directors, with further expansion planned:
David Barcus
New York, former BNP and Raymond James
John Doyamis
New York, former EBG, and Bear Stearns
Leo-Hendrik Greve
Amsterdam, former ING, Citi and MS
Rony Jawhar
Dubai, former Arqaam and Deutsche Bank
Bray Kelly
New York, former JBK Capital and UBS
Joe Lovrics
Madrid, former Societe General, Citi, and BNP
Bill Miller
New York, Commerce Street, TPG Sixth Street, Citi
Hans Narberhaus
Madrid, former Deutsche Bank
Laurent Quelin
London, former Chenavari, and CS
Francois-Louise Ricard
Paris, former Groupe Caisse des Depots, MS and SG
Jorge de los Rios
Madrid, former Santander, S&P and Lehman
Mike Turnbull
London, former StormHarbour, BAML and MS
Andrew Whittaker
New York, Lazard, GSAM and Lehman
In Q2 we were also joined by Gregor Bates, Associate, London, and Analysts Matt Farrell, Nikita Spivakov, and Tim O’Callaghan in New York.
We also welcome George Parker, New York, as Senior Advisor for Operations.
This team’s decades of investment banking experience across Origination, Advisory, Capital Markets, Structuring, and Leveraged Finance should help propel our growth and strategy to originate, structure, and distribute private capital markets transactions and provide strategic advisory services. Our goal is to further strengthen KingsRock’s ability to serve issuer clients and the private credit, special situations and private equity investor universe with ever more tailor-made capital solutions and investment opportunities.
Expansion of our Global Network of Senior Advisors
We are also pleased to announce that we now have 120 (one hundred and twenty) Senior Advisors from approximately 50 countries around the world. Each is a truly Independent Advisor with his or her own interest and focus, some with companies that we have partnered with, etc. Many of these advisors comprised the most senior leadership of Deutsche Bank and oversaw a wide range of functions, from CEO and six other former Management Board Members, to Country Heads and Divisional Heads of M&A, Capital Markets, and Heads of Sales, Coverage, Industry Groups, Economists, Operations, etc.
This unique Global Network of former colleagues and friends as our Senior Advisors allows KingsRock access to key decision makers nearly anywhere in the world, spanning companies, institutional investors, financial institutions, and the public sector. It also offers mutual benefits in deal making through origination, execution, and distribution, be it a cross-border M&A transaction or bespoke institutional capital raising deal.
We are also pleased to Announce a successful close of our inaugural third-party capital raise for KingsRock Advisors LLC, to support our expansion and elevate our investment banking boutique, with further strategic growth planned. We thank all of our investors for their strong support.
“We are excited to welcome our new Senior Advisory Board Members, our new Managing Directors, Associate and Analyst colleagues, and our Senior Advisors network to KingsRock as we continue to expand the global reach of our capital solutions business. Together with our inaugural capital raise to boost and increase the visibility of our platform, successfully concluded in Q2, we are truly thrilled with the progress our young firm is making to serve our clients and support our ambitious growth. In the near term, we will share more details about our expansion across our financial services offering,” said Håkan Wohlin, Founder & Managing Partner, and Louis Jaffe, Co-Founder & Managing Partner.
KingsRock Advisors, LLC headquartered at 900 Third Avenue, New York, NY 10022, is an independent global advisory firm, with securities offered by KingsRock Securities LLC, a FINRA member firm and SIPC, as well as KingsRock Advisors UK Ltd and KingsRock Advisors Europe AB, both wholly owned subsidiaries of KingsRock Advisors LLC.
Founded in 2020, KingsRock comprises a team of approximately 40 full time professionals who advise on a wide range of private capital markets transactions including debt, hybrid, equity and M&A covering structures from vanilla to highly structured. The team collectively has worked on thousands of transactions across various industry sectors worldwide. Clients include private equity and private credit firms, corporations, financial institutions, government-related entities, and institutional investors.
KingsRock Advisors offers the experience and global reach of a large firm, combined with the structural agility and creativity of a boutique. An independent advisory firm with a global network that provides unconflicted strategic and financial advisory services, along with innovative capital solutions and special situations. The firms’ bankers excel in complex transactions and deliver swift results often where large banks and traditional sources of financing do not have the ability to engage. KingsRock advisors operates across all major industry sectors and is supported by a global network of 120 independent Senior Advisors across 50 countries, who bring decades of deal making experience.
Disclaimer:
Securities offered by KingsRock Securities LLC, a FINRA member firm and a member of SIPC., a wholly owned subsidiary of KingsRock Advisors LLC. • 900 Third Avenue, 10th Floor • New York, NY 10022.
KingsRock Advisors UK Ltd is a private limited company registered in England and Wales with registration number 15240371. KingsRock Advisors UK Ltd (FRN 1006329) is an Appointed Representative under Bluegrove Capital Management Ltd (FRN: 960363), which is authorised and regulated by the Financial Conduct Authority.
KingsRock Advisors Europe AB is incorporated in Sweden (EU), with registered office at Grev Turegatan 14, 114 46 Stockholm, Sweden, and is a tied agent of Svensk Värdepappersservice i Stockholm AB, a Swedish investment firm authorized and regulated by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) under the Swedish Securities Market Act (Sw. lag (2007:528) om värdepappersmarknaden).
This message is provided for information purposes and does not constitute an invitation, solicitation or offer to buy or sell any securities or investment. Neither KingsRock Securities, LLC nor its affiliates provide accounting, tax or legal advice; such matters should be discussed with your advisors and/or counsel.
The East African Community (EAC) and the Intergovernmental Authority on Development (IGAD) have taken a significant step towards regional financial integration, with the convening of a five-day workshop on payment systems interoperability. The IGAD-EAC-World Bank Joint Workshop, convened from 30th June to 4th July, 2025 in Addis Ababa, Ethiopia, brought together Central Banks, digital finance experts, and senior policymakers from nine countries with a focus on advancing harmonised legal, regulatory, and supervisory frameworks that will enable faster, safer, and more inclusive cross-border payments across the Eastern Africa region
The workshop was organised under the Eastern Africa Regional Digital Integration Project (EARDIP), a flagship initiative jointly implemented by IGAD and EAC, with support from the World Bank. The EARDIP’s mission is to boost regional digital market integration by expanding broadband infrastructure and strengthening the environment for cross-border digital services, including digital payments, a critical enabler of trade, remittances, and financial inclusion.
At the heart the Addis Ababa discussions was a shared regional challenge of fragmented and non-interoperable payment systems that undermine economic potential. While countries like Kenya, Tanzania, and Ethiopia have made strides in domestic interoperability, regional integration remains stifled by gaps in regulations, technical disparities, and cybersecurity concerns. Against this backdrop, the workshop provided a platform for technical learning, peer-to-peer exchange, and collective visioning.
In his opening remarks, Dr. Mohyeldeen Eltohami, Director of Economic Cooperation and Regional Integration, IGAD, emphasised that the workshop was not merely a technical convening but a launchpad for transformation. “The collaboration between EAC and IGAD exemplifies the spirit of regional solidarity and shared ambition that Africa needs to build the future it envisions, a future of seamless digital integration, inclusive prosperity, and economic transformation,” he said.
The Director urged participants to seize the opportunity to build a harmonised regional framework and to let cooperation, not fragmentation, define the region’s digital future.
“Digital transformation is no longer a choice but a necessity. Together, IGAD and EAC can build a digitally integrated Eastern Africa, where borders no longer limit opportunity, and where innovation drives inclusion, and prosperity is shared,” said Dr. Eltohami.
Echoing these sentiments, Eng. Daniel Murenzi, Principal Information Technology Officer, EAC Secretariat stressed that digital payments are the backbone of a functioning digital market and that interoperability was no longer a luxury, but a necessity for regional prosperity.
“EAC and IGAD are implementing the EARDIP Project with the objective to advance digital regional integration by strengthening cross-border digital infrastructure, services, policies, and frameworks that promote economic growth, inclusion, and regional collaboration among EAC and IGAD Member/Partner States,” noted Eng. Murenzi.
“Payment systems are an enabler in this digital ecosystem for the region, with their interoperability a critical factor. We therefore need to review national payment processes, harmonise legal and regulatory instruments and facilitate interoperability of the regions payment system,” he noted.
On his part, Mr. Gynedi Srinivas, Senior Financial Sector Specialist, Payment Systems Development Group, World Bank outlined the global relevance of the workshop, noting that its objectives align with the Group of Twenty (G20) roadmap for faster, cheaper, and safer cross-border payments. He applauded the region’s readiness to harness the benefits of fast payment system (FPS) interoperability.
“The benefits of cross-border interoperability of fast payment systems will especially enable safer, faster and low-cost retail payments across borders helping end-users, individuals and Medium, Small and Micro Enterprises (MSMEs) to make and receive payments seamlessly,” he noted.
Participants of the workshop engaged in discussions on three strategic areas: digital infrastructure, legal and regulatory frameworks, and regional payment integration. Recommendations from these sessions included the need to invest in shared digital infrastructure, adopt consumer-centric design for FPS, develop regulatory sandboxes to support innovation, and the need to harmonise legal instruments to unlock true cross-border operability.
During the workshop, experts from some Member/Partner States Central/National Banks shared experiences and lessons from their national contexts, thereby providing practical blueprints for other countries aiming to leapfrog barriers and accelerate digital finance inclusion.
Participants also explored emerging technologies, including AI, blockchain, and cross-border Central bank digital currencies, alongside discussions on cyber threats and the role of cybersecurity incident response teams (CIRSTs) in protecting payment ecosystems. The need for a unified cybersecurity legal framework and real-time threat intelligence sharing across borders emerged as a top priority.
The workshop further recommended facilitating peer-to-peer attachments among central banks; anchoring FPS design in user needs; collectively addressing social engineering risks, particularly in mobile payments; and convening annual joint workshops on cross-border payments.
The workshop brought together experts from nine IGAD-EAC Member/Partner States’ National Payment System directorates or departments from the Bank of the Republic of Burundi, the Central Bank of Djibouti, the National Bank of Ethiopia, the Central Bank of Kenya, the National Bank of Rwanda, the Central Bank of Somalia, the Bank of South Sudan, the Bank of Tanzania and the Bank of Uganda. The Central Bank of the Democratic Republic of Congo was represented by the Ministry of Regional Integration of the Democratic Republic of Congo. Also in attendance were IGAD and EAC EARDIP Coordinators and key staff as well as World Bank Consultants and a representative from Banco d ’Italia (Bank of Italy).
On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Wednesday, July 09, 2025, as under: