NewzIntel.com

    • Checkout Page
    • Contact Us
    • Default Redirect Page
    • Frontpage
    • Home-2
    • Home-3
    • Lost Password
    • Member Login
    • Member LogOut
    • Member TOS Page
    • My Account
    • NewzIntel Alert Control-Panel
    • NewzIntel Latest Reports
    • Post Views Counter
    • Privacy Policy
    • Public Individual Page
    • Register
    • Subscription Plan
    • Thank You Page

Category: Business

  • MIL-OSI Russia: Interview with Minister of Industry and Trade Anton Alikhanov to RIA Novosti

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Anton Alikhanov: We are fighting phantom enterprises.

    In an interview with RIA Novosti, Minister of Industry and Trade Anton Alikhanov spoke about how pseudo-Russian brands are identified, what measures the state is introducing to ensure product safety in schools and kindergartens, and the fight against illegal goods.

    Anton Alikhanov (photo: Ministry of Industry and Trade)

    A. Veselova: Anton Andreevich, what is the situation with illegal turnover of products in Russia today?

    A. Alikhanov: I would like to start by saying that ten years ago, by decision of the president, a state commission was created to combat illegal turnover of industrial products. It became the main coordinating link in the comprehensive work in the fight against the shadow market. The activities of all industry and regulatory bodies at the federal level are linked through it.

    Various tools are used to reduce the circulation of illegal products. But the most effective has become the digital marking and traceability system of goods “Honest Sign”.

    This direction is already being implemented in all EAEU countries and in Uzbekistan. In Russia, 31 product categories are monitored from the conveyor to the consumer on a mandatory basis, with 16 being subject to an experiment. The government is also considering further expansion of the system to various products, especially in the food industry and industrial goods. The Honest Sign mobile application is used by almost 28 million consumers, they have checked more than 300 million products and identified 240 thousand violations. All complaints are sent to regulatory authorities.

    A. Veselova: What effect on the economy has been recorded in the country from the introduction of labeling?

    A. Alikhanov: According to the Federal Tax Service, over the past five years the economic effect has amounted to 1.2 trillion rubles in the form of tax and other revenues to budgets at all levels. More than half of this amount was achieved by whitening the tobacco market – 627 billion rubles. The results in other product groups are also noticeable. In dairy products – 148 billion rubles, in light industry – 143 billion rubles, in the footwear segment – 85 billion rubles, in perfumery – 35 billion rubles.

    In addition to increasing state revenues, legal businesses earned an additional 687 billion rubles by increasing their market share. And according to Rosstat data, the profitability of sales has increased for all bona fide market participants. Since the launch of mandatory labeling by 2023, tobacco products have increased by 17.9%, packaged water by 13.1%, footwear by 5.7%, and dairy products by 3.2%. I would like to note that these effects have been achieved without a noticeable impact on the final price for the consumer. According to the Research Institute of the Ministry of Finance, the share of labeling in the cost price is no more than 1%.

    A. Veselova: Since April 2024, a permit regime has been in effect for a number of goods in Russia, which checks the quality of the goods through a special QR code; if the product is of poor quality, the system will not allow the buyer to purchase it. How effective is this mechanism? How does the regime protect consumers?

    A. Alikhanov: Due to the introduction of a permit regime at store checkouts, sales of 1.2 billion low-quality or illegal goods have been blocked. Among them: beer – 299 million units, milk – 243 million, tobacco – 311 million, in the light industry – 187 million, soft drinks – 110 million. This system already applies to 16 groups of goods and will be expanded this year to non-alcoholic beer, caviar, veterinary drugs, technical rehabilitation equipment and bicycles.

    The labeling system allows for batches of unsafe products to be blocked within an hour by decision of regulatory authorities. For example, Rospotrebnadzor, based on research, did this proactively with respect to six million dietary supplements across the country with dangerous levels of lithium, melatonin, and simethicone. Similarly, due to a poisoning incident, sales of a batch of 2.5 million bottles of water were promptly stopped. Thus, we now have a mechanism for quickly stopping sales of products whose quality and safety are in doubt.

    It is important that we not only control the products themselves, but also close illegal production facilities, in particular 56 tobacco factories, using control bodies. At the same time, many enterprises left the shadow sector and began to operate according to the law. This is how more than 550 “new” water producers appeared, the number of legal importers of dietary supplements increased tenfold and those who produce them tripled.

    A. Veselova: What is happening now in the sphere of state control over industrial products?

    A. Alikhanov: State control is one of the key mechanisms for consumer protection. It ensures quality control and product safety in accordance with established requirements at all stages – during production, delivery and circulation.

    Today, the safety of certain types of products is confirmed by a certificate or declaration, while there is no further state control over such products. That is, there may be cases when an unscrupulous manufacturer provides the laboratory with a so-called “golden sample” that fully complies with the requirements. This is how he receives a certificate. And the product goes to the market under this certificate, but it does not comply with the requirements. As a result, unsafe products may end up on the shelf.

    A. Veselova: Are you developing additional mechanisms to protect consumers in order to prevent unsafe products from entering the market?

    A. Alikhanov: We have developed a set of measures with the Ministry of Economic Development. First of all, these are changes to the legislation to restore state control over certain types of industrial products – I believe that it will be effective. This is confirmed by the experiment that Rosstandart is conducting on certain types of construction products and materials. We are talking about cable products, various types of cement, construction and concrete mixtures, as well as heating convectors and radiators. Over two thousand control measures have already been carried out in a year of the experiment.

    According to the inspection results, 57% of cases revealed violations of product quality requirements. Such unsafe products are recalled from the market. For example, in St. Petersburg, about 6 thousand tons of dry construction mixtures worth a total of about 104 million rubles were withdrawn from circulation. And such cases are not isolated.

    Another significant initiative in this direction was introduced by the State Duma deputies. They proposed to legislatively enshrine the regulation of technical conditions, according to which manufacturers often release their products. We fully support this approach.

    A. Veselova: What is the difference between technical conditions and technical regulations? What effect do you expect from fixing technical conditions?

    A. Alikhanov: Technical conditions today are a non-public document in which the manufacturer himself defines the requirements for his products. Formally, they should not be lower than the requirements of technical regulations. But technical regulations establish only minimum safety requirements and do not affect quality parameters. Therefore, the requirements of technical conditions may be lower than GOSTs. A simple example: if a manufacturer puts saury in a can labeled “kilka”, this may not violate safety standards or technical conditions. But it absolutely does not meet consumer expectations and, most importantly, violates GOST requirements.

    We are confident that the removal of technical specifications from the unregulated zone will increase transparency and ensure fair competition. In addition, it will involve bona fide manufacturers in the national standardization process. Ultimately, this will have a positive effect on the quality of products released into circulation and will increase consumer confidence.

    A. Veselova: What additional measures are being taken to protect products from possible attempts at counterfeiting?

    A. Alikhanov: We conducted an experiment with the Ministry of Economic Development and the CRPT, following which the government adopted Resolution No. 837, which comes into force on September 1. It strengthens control not only over the availability, but also the content of permits for goods in the labeling system. This will allow us to confirm their relevance and compliance with the declared products. If the documents do not pass the check, the products will not be allowed on the market.

    In addition, a ban on sales at the checkout will be introduced if the permits are declared invalid after the products have been put into circulation. We are currently verifying the contents of the documents with the state registers of Rosaccreditation and Rospotrebnadzor. In the future, we will expand the array of data on the products themselves and whether the company has the right to produce them. We are discussing this decision with the member countries of the association and expect a positive decision from the Eurasian Economic Commission.

    A. Veselova: How does the ministry combat pseudo-Russian brands? How acute is this issue today?

    A. Alikhanov: We are conducting an experiment to identify such manufacturers and phantom enterprises. For example, more than 2.8 thousand shoe manufacturers are registered in the marking system, of which almost 470 are in Moscow. If the system reveals, based on risk indicators, that the activities of such companies deviate from the norm and raise suspicions, then representatives of the CRPT and Rospotrebnadzor conduct an on-site inspection. In fact, they determine whether there is real production or just a legal entity that legalizes illegal products.

    The first results showed that 92% of inspections of footwear, consumer goods and dietary supplements were fake enterprises. Their addresses were found to be vacant lots, residential buildings or abandoned buildings. These companies tried to “legalize” products that did not correspond to the declared documents. In some cases, there is reason to believe that these are imports that are registered as products of Russian origin in order to evade customs duties and control.

    Based on the results of the experiment, a mechanism was developed to limit the issuance of marking codes to such legal entities and block their products. Before the traceability system appeared, this was impossible to do. For now, we have extended this algorithm to the least regulated industries – footwear, light industry, perfumery, tires and dietary supplements. Then we will cover other product categories.

    A. Veselova: Anton Andreevich, there was information on the Internet about the incorrect operation of the marking system in case of unstable Internet operation? Do you know about this, does such a problem really exist?

    A. Alikhanov: Since March 1, 2025, an offline mode has been introduced for a number of product groups that require mandatory labeling, which allows checking the product even without the Internet. To do this, a special local module of the system is installed at the checkout, into which a database of labeled products is loaded. When attempting to make a sale, the system first accesses the online database, and if the check fails, for example, due to the lack of Internet, it loads data from the local module. Thus, the system ensures correct operation even during temporary Internet problems.

    A. Veselova: Today, more and more people use marketplaces, but it is difficult to check the quality of goods there. What measures do you plan to take in connection with counterfeit products on marketplaces?

    A. Alikhanov: In our opinion, it is necessary to strengthen control over marketplaces in order to exclude violations when selling marked goods on the Internet. The draft law “On the platform economy” provides for the obligations of trading platforms to check the registration of the seller, the product and its code in the marking system. If any of these criteria are not met, the offer should not be reflected in the buyer’s search. While such requirements have not yet been enshrined in law, CRPT has entered into agreements with the largest marketplaces: Yandex, Wildberries, SberMegaMarket, Samokat, Ozon, AliExpress and Russian Post. These online platforms have undertaken to independently check customer complaints received through the Honest Sign application and take action against violators. According to the marking system, 95% of complaints were confirmed. In relation to a third of them, marketplaces applied sanctions: fines, blocking goods or warnings. For the rest, sellers received notifications demanding that they eliminate the violations.

    A. Veselova: Today, goods from the member states of the Eurasian Economic Union cross customs under a simplified regime. There are frequent cases where goods illegally enter one of these countries and then travel to Russia. Is the Ministry working on measures to strengthen control in such cases?

    A. Alikhanov: Our country is the largest market in the EAEU and, of course, there are cases that you mentioned. Often these goods then end up, for example, in the fake production facilities that I mentioned earlier.

    To solve the problem, it is necessary, firstly, to harmonize the list of goods that are subject to mandatory labeling. That is, the nomenclature must be uniform in all EAEU countries. This is what we are discussing with our colleagues.

    Secondly, it is necessary to ensure regular verification of information from the labeling system with data from the EAEU member states on goods sent to Russia. This also concerns the verification of mirror customs statistics and the country of origin of the goods.

    A. Veselova: What effect do you expect from the experiment to control the supply of unsafe and low-quality food products to social institutions?

    A. Alikhanov: With the introduction of a permit regime at cash registers and the integration of the marking system with Mercury, counterfeit products were blocked from entering stores. But we see that dubious products have begun to appear in schools and hospitals where there are no cash registers.

    In order to set a barrier for it, at the end of last year, we decided at the state commission to start an experiment in the labeling system to control the supply of food products to the social sphere. So far, it covers several regions – Krasnodar, Perm, Stavropol and Khabarovsk Territories, Moscow and Novosibirsk Regions, St. Petersburg. We will complete it by September, having created criteria and a mechanism for stopping this practice. The experiment affects packaged water and dairy products, which are subject to labeling. In the near future, we will make such control mandatory, since we are already seeing successful results.

    A. Veselova: What are the prospects for the development of the labeling system in Russia in the future?

    A. Alikhanov: The introduction of labeling is advisable for goods that are most sensitive to illegal trafficking. Therefore, the government will systematically expand the range of products, including industrial products. We are conducting experiments on radio electronics, building materials, and radiators. We are working on traceability issues for the raw materials from which these goods are made.

    We will scale and develop the labeling system, supplement it with new functionality. That is, we will continue to narrow the opportunities for various tricks that pose a threat to human health and undermine food and economic security.

    Source – RIA Novosti.

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

    MIL OSI Russia News –

    June 24, 2025
  • MIL-OSI: Market Intelligence on Autopilot: St Mary Capital Delivers Real-Time Feed

    Source: GlobeNewswire (MIL-OSI)

    LONDON, June 23, 2025 (GLOBE NEWSWIRE) — Global investment firm St Mary Capital has introduced a real-time market intelligence feed. The feature is live and updated across the main asset classes and is focused on allowing clients to track changes in the market as they occur.

    The feed provides automatic feeds of the movement of equities, indices, commodities, and crypto-currency. It will help clients to make faster decisions by providing real-time market signals and price alerts. This launch comes as more traders look for simple tools that reduce the time spent searching for key market data.

    Helping Traders Stay Focused

    The feed was designed to be user-friendly. It puts alerts directly on the user’s dashboard, thereby not requiring traders to refresh pages or move to various platforms so that they are informed. The updates are in an organized and straightforward format.

    The clients will also be able to redefine the feed according to their time zone and the asset of their choice. For those who trade across different markets, having everything in one place may make tracking trends less stressful.

    The development of the feed followed a period of user testing. The feed is meant to work alongside other tools clients already use. It does not replace charting software or analysis platforms but adds an extra layer of awareness. Users can set it to show updates only for the assets they are actively watching or trading.

    Custom Alerts for Real-Time Reactions

    Customers have the ability to define alerts regarding price alert or volume activity or market news. This makes the user take immediate action when certain conditions are fulfilled, so they do not require monitoring the screen all the time.

    Even during periods of high trading activity, the feed can manage substantial data volumes. The company has confirmed that the system pulls data from multiple sources to keep updates timely and accurate.

    The feature is now live on St Mary Capital’s platform. All registered clients can access it as part of their existing services. More updates may be added later based on client feedback.

    Looking Ahead

    This new feed reflects a move toward more automated trading tools. While the current version focuses on real-time alerts, future versions may include extra features like market sentiment updates or trade suggestions.

    St Mary Capital says it will continue to gather client input to guide further improvements.

    About St Mary Capital

    St Mary Capital is a global investment company offering access to a diverse range of financial instruments, including cryptocurrencies, equities, indices, and commodities. Known for its data-driven approach and personalized account management, St Mary Capital empowers clients with tools, insights, and support to navigate today’s complex financial landscape. With a strong focus on transparency and regulatory alignment, the company continues to be a trusted resource for modern investors worldwide.

    Media Contact:
    Name:Benjamin Rothwell
    Email: office@stmarycapital.com
    Website: https://stmarycapital.com/

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    The MIL Network –

    June 24, 2025
  • MIL-OSI: Woodbridge Announces Sale of Custom Chemical Solutions, LLC to AAVIN Private Equity

    Source: GlobeNewswire (MIL-OSI)

    NEW HAVEN, Conn., June 23, 2025 (GLOBE NEWSWIRE) — Woodbridge, a global mergers and acquisitions firm and a Mariner Company, is pleased to announce the acquisition of its client, Custom Chemical Solutions, LLC, by AAVIN Private Equity.

    Custom Chemical Solutions, headquartered in Cody, Wyoming, is a full-service secondary containment rental company servicing the Bakken oilfield and surrounding areas including some of the Rocky Mountain Region. CCS’ reliability has positioned them on a first-call basis with some of the largest companies in the oil and gas industry.

    AAVIN Private Equity, based in Cedar Rapids, Iowa, manages committed funds to deploy capital into established, profitable businesses situated in underserved domestic geographies within the lower segment of the middle market.

    Woodbridge’s ground-breaking approach to marketing a company globally has transformed the way the sell-side M&A industry does business. Woodbridge is a Mariner Company.

    For more information, contact Don Krier, dkrier@woodbridgegrp.com or call 203-389-8400 x 201.

    The MIL Network –

    June 24, 2025
  • India advances carbon pricing reforms to meet climate goals

    Source: Government of India

    Source: Government of India (4)

    India is moving steadily towards establishing a comprehensive carbon pricing ecosystem aimed at meeting its climate and development commitments. With the formal adoption of the Carbon Credit Trading Scheme (CCTS) in July 2024 and increasing alignment with global carbon markets, the country is setting the stage for a structured, rate-based Emissions Trading System (ETS).

    According to the World Bank’s State and Trends of Carbon Pricing 2025 report, India has emerged as a notable player among emerging economies—alongside Brazil and Türkiye—in advancing carbon pricing frameworks and climate finance tools.

    A Transition to Rate-Based Emissions Trading

    Unlike cap-based systems where total emissions are limited, India’s ETS follows a rate-based model. Here, emissions are not capped outright, but each entity is assigned a performance benchmark to limit net emissions relative to output. This model offers greater flexibility, particularly for fast-growing economies like India, by accommodating industrial expansion while maintaining climate discipline.

    The national ETS is set to initially cover nine energy-intensive sectors, including cement, steel, and power generation. Facilities outperforming benchmark emission levels will be issued tradable Credit Certificates. The scheme thus rewards efficiency while laying the groundwork for the Indian Carbon Market (ICM).

    India’s Ministry of Power approved eight methodologies on March 28, 2025, for generating voluntary carbon credits. These include renewable energy, green hydrogen production, industrial energy efficiency, and mangrove afforestation. This move supports the broader aim of transitioning from existing schemes such as the Perform, Achieve and Trade (PAT) programme to a market-ready, credit-based system.

    Emerging Economies in Comparison

    Among peer economies, China operates a similar rate-based ETS focused on the power and heavy industrial sectors. Indonesia, too, follows a rate-based structure and has recently expanded its coverage. Brazil stands apart with a cap-based system, legislated in December 2024, covering all sectors barring agriculture. India’s carbon pricing framework is currently in the regulatory phase but is expected to become operational within the next fiscal year.

    Voluntary Carbon Market: Expanding the Scope

    India is developing a voluntary carbon market to include sectors currently outside the purview of the compliance mechanism. These encompass agriculture, afforestation, and clean cooking initiatives. The objective is to channel private capital towards climate-positive projects through transparent crediting mechanisms and market participation.

    The regulatory backbone for this voluntary market is provided by the Energy Conservation (Amendment) Act, 2022. This law empowers the central government to issue carbon credit certificates, thereby legitimising both compliance and voluntary credit markets.

    Policy Support and Institutional Framework

    Several flagship initiatives are helping fortify India’s carbon market architecture. Among them is the National Green Hydrogen Mission, which aims to produce 5 million metric tonnes of green hydrogen annually by 2030. The mission is closely tied to the carbon credit mechanism through approved methodologies that recognise hydrogen’s potential as a low-emission fuel.

    Meanwhile, the PAT scheme—implemented by the Bureau of Energy Efficiency (BEE) since 2012—has achieved a 15–25% reduction in emissions intensity in targeted sectors. It will gradually integrate with the ETS, ensuring a seamless policy transition.

    India’s renewable energy ambitions remain central to its climate policy. The government aims to install 500 GW of non-fossil fuel-based power capacity by 2030, with carbon pricing acting as a complementary instrument to accelerate this shift.

    Market Readiness and Governance

    To strengthen governance, the National Steering Committee for the Indian Carbon Market (NSCICM) has been constituted. It includes representatives from key ministries, state governments, and industry stakeholders. The Committee is responsible for setting targets, issuing guidelines, and ensuring transparency in market operations. It also oversees the development of international trading mechanisms and verifies emission intensity reductions.

    The Bureau of Energy Efficiency, functioning under the Ministry of Power, plays a pivotal role as the technical arm of India’s climate governance. Since its inception in 2002, BEE has deployed a combination of regulatory and market-based tools to drive energy efficiency across sectors such as industry, buildings, transport, and agriculture.

    Enabling Behavioural Shifts

    India’s approach also includes behavioural interventions. Launched as a global movement at COP27, Mission LiFE (Lifestyle for Environment) encourages individuals to adopt climate-friendly daily habits. The mission aims to mobilise one billion people by 2028 and transform 80% of Indian villages and urban bodies into green communities.

    Complementing this is the Green Credit Programme (GCP), which was notified in October 2023 under the Environment Protection Act, 1986. GCP promotes tree plantation on degraded forest land, issuing digital credits to participants—ranging from individuals to corporations—who maintain the plantations over a decade. The scheme is designed to expand India’s green cover and incentivise voluntary environmental stewardship.

    Towards a Carbon-Conscious Economy

    India’s carbon pricing journey is firmly grounded in the principle of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC), ensuring that climate action remains equitable and context-specific. With institutional structures now in place and policy backing strong, the country is poised to lead by example in aligning economic development with environmental sustainability.

    June 24, 2025
  • MIL-OSI: AGF Investments Announces June 2025 Cash Distributions for Certain AGF ETFs and ETF Series

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — AGF Investments Inc. (AGF Investments) today announced the June 2025 cash distributions for AGF Enhanced U.S. Equity Income Fund*, AGF Total Return Bond Fund* and AGF Systematic Global Infrastructure ETF, which pay monthly distributions, as well as AGF Global Sustainable Growth Equity ETF, which pays quarterly distributions. Unitholders of record on June 30, 2025 will receive cash distributions payable on July 7, 2025.

    Details regarding the final “per unit” distribution amounts are as follows:

    ETF Ticker Exchange Cash Distribution
    Per Unit ($)
    AGF Enhanced U.S. Equity Income Fund* AENU Cboe Canada Inc. $0.135717
    AGF Total Return Bond Fund* ATRB Cboe Canada Inc. $0.094000
    AGF Systematic Global Infrastructure ETF QIF Cboe Canada Inc. $0.146216
    AGF Global Sustainable Growth Equity ETF AGSG Cboe Canada Inc. $0.142000
           

    *AGF Enhanced U.S. Equity Income Fund and AGF Total Return Bond Fund are mutual funds with an ETF series option.

    Further information about the AGF ETFs can be found at AGF.com.

    This information is not intended to provide legal, accounting, tax, investment, financial, or other advice, and should not be relied upon for providing such advice. Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    AGF ETFs are ETFs offered by AGF Investments Inc. ETFs are listed and traded on organized Canadian exchanges and may only be bought and sold through licensed dealers.

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $53 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    About AGF Investments

    AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.

    AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

    AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.

    Media Contact

    Amanda Marchment
    Director, Corporate Communications
    416-865-4160
    amanda.marchment@agf.com  

    The MIL Network –

    June 24, 2025
  • MIL-OSI Russia: Exclusive: China and Kazakhstan open a new chapter in cooperation in the field of sustainable development technologies – President of the NAS of the Republic of Kazakhstan

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    Astana, June 23 (Xinhua) — China and Kazakhstan are opening a new chapter in cooperation in the field of sustainable development technologies, Akhilbek Kurishbayev, President of the National Academy of Sciences of the Republic of Kazakhstan (NAS RK) and Rector of the Kazakh National Agrarian Research University (KazNAIU), said in an interview with Xinhua.

    The Kazakhstan-China Center for Science and Technology Transfer, established in February 2025 at the National Academy of Sciences of the Republic of Kazakhstan jointly with the Zhejiang University of Technology and leading Chinese high-tech companies, opens a new page in the development of innovative partnership. Within its structure, the International Joint Laboratory of Spatio-Temporal Artificial Intelligence (AI) and Sustainable Development is being formed, which has already outlined priority areas at the launch stage.

    “A stable platform will be formed on the basis of the center, on which scientists from Kazakhstan, China and other countries of the Central Asian region will work according to a single program, with clearly defined goals and objectives, concentrating resources on conducting research and obtaining effective results, including adapting Chinese technologies to national conditions,” noted A. Kurishbayev.

    According to him, organizational and technical preparatory work is in full swing, and the laboratory will begin full-scale operations in the near future.

    “We have high hopes for the work of this center and its laboratory. I am sure that these hopes will be justified,” shared A. Kurishbaev. “The basis for this is our common desire for cooperation and the concentration of common scientific potential to solve a single problem,” he added.

    Speaking about his own contribution to the development of bilateral scientific cooperation, A. Kurishbayev recalled that since 2007, as Vice Minister of Agriculture of Kazakhstan, he took the most active part in establishing and developing mutually beneficial cooperation with China. The first steps in developing cooperation in the field of science and trade in agriculture were agreements on phytosanitary and veterinary safety.

    According to him, a lot of work has been done since then: joint laboratories have been created, internships have been organized, and the Alliance for Agricultural Education, Science, and Innovation in the Field of Great Silk Road Technologies has been formed.

    “I have been to China many times, visited leading research institutes and universities,” he shared. “The scale of development of artificial intelligence, smart cities, green technologies, genetics, as well as approaches to modeling natural disasters are impressive.”

    Kazakhstan, according to him, has prospects in such areas as digitalization of the agricultural sector, water technologies, natural resource management and sustainable development of rural areas – it is in these areas that deep and practice-oriented cooperation with Chinese scientific schools is possible.

    He also emphasized the importance of environmental partnership: “Our countries are located in a single ecosystem of the Central Asian region, and we are doomed not only to live here together, but also to bear responsibility for its preservation and improvement. Therefore, it is extremely important for us to search for new environmentally friendly technologies that allow us to move away from “dirty” production and take the path of “green” development and, on this basis, create conditions for a more comfortable life not only for the present, but also for future generations. This is our sacred duty, and we have no other way. We all understand this very well.”

    A. Kurishbaev also noted the deteriorating environmental situation in the world. According to him, the negative consequences will be felt especially strongly by the fragile ecosystem of Central Asia. “This process can only be stopped by joint efforts, based on the results of research by our scientific organizations. All this is in our hands. This requires not only our joint desires, but also our determination to implement them in practice,” concluded A. Kurishbaev. –0–

    MIL OSI Russia News –

    June 24, 2025
  • MIL-OSI: Flow Capital Announces US$1.5M Follow-On Investment in Tattle

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — Flow Capital Corp. (TSXV:FW) (“Flow Capital” or the “Company”) is pleased to announce a second follow-on investment of $1.5M in portfolio company, GetTattle Inc. (dba “Tattle”), a global Customer Experience Improvement (“CXI”) software-as-a-service (“SaaS”) platform focused primarily on the restaurant and hospitality sector.

    This follow-on round brings Flow Capital’s total investment in Tattle to US$5.5 million, and reaffirms the Company’s strong conviction in Tattle’s team, market opportunity, and long-term trajectory. The additional capital infusion will support Tattle’s continued growth driven by the launch of its AI Coach features, and further expand its presence within core enterprise verticals.

    Alongside the recent financing, Tattle announced the appointment of Kevin Quinn to its Board of Directors. Mr. Quinn is a seasoned finance executive and retired Partner and Co-Head of Global Technology Banking at Goldman Sachs, with over 25 years of experience advising and scaling high-growth companies in the technology and consumer sectors. Most recently, he served as a senior advisor to the U.S. Department of Commerce’s CHIPS for America program, an initiative to promote domestic semiconductor innovation and manufacturing.

    All growing technology companies seeking covenant-light founder-friendly growth capital are invited to apply for funding directly at www.flowcap.com/get-funding.

    About Tattle

    Tattle is the leading feedback and guest experience improvement platform built for multi-unit hospitality brands. By seamlessly integrating with the restaurant technology ecosystem, Tattle connects brands with their guests at every touchpoint of the guest journey. Tattle’s AI can instantly translate guest feedback across all ordering channels to generate location-specific action items, and empowers operations, marketing, and training teams to drive measurable improvements in guest satisfaction and revenue. Currently Tattle is active at over 15,000 restaurant locations, including hallmark brands such as Chili’s, CAVA, Hooters, PJ’s Coffee, Mellow Mushroom, and more.

    For more information, please visit www.gettattle.com

    About Flow Capital 

    Flow Capital Corp. is a publicly listed provider of flexible growth capital and alternative debt solutions dedicated to supporting high-growth companies. Since its inception in 2018, the company has provided financing to businesses in the US, the UK, and Canada, helping them achieve accelerated growth without the dilutive impact of equity financing or the complexities of traditional bank loans. Flow Capital focuses on revenue-generating, VC-backed, and founder-owned companies seeking $2 to $10 million in capital to drive their continued expansion.
    Learn more at www.flowcap.com.

    For further information, please contact:

    Flow Capital Corp.
    Alex Baluta
    ‎Chief Executive Officer
    ‎alex@flowcap.com
    47 Colborne Street, Suite 303, 
    ‎Toronto, Ontario M5E 1P8

    Forward-Looking Information and Statements

    Certain statements herein may be “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Flow or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Flow assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.

    The MIL Network –

    June 23, 2025
  • MIL-OSI: Evfarmer Announces Approval of MSB License by the U.S. Financial Crimes Enforcement Network (FinCEN)

    Source: GlobeNewswire (MIL-OSI)

    DENVER, June 23, 2025 (GLOBE NEWSWIRE) — Evfarmer Capital Limited, a global company specializing in agricultural financial technology, has officially announced its successful registration in the United States and the receipt of a Money Services Business (MSB) license issued by the Financial Crimes Enforcement Network (FinCEN), an agency under the U.S. Department of the Treasury.

    At the same time, Evfarmer plans to use the U.S. market as a strategic hub for expanding its business throughout the Americas.

    Obtaining the MSB license marks a significant step forward in Evfarmer’s efforts to build a globally compliant financial operation and lays a strong foundation for its ongoing international development.

    “Securing the U.S. MSB license is a major milestone in Evfarmer’s global growth strategy,” said a company spokesperson.
    “It reinforces our legitimacy in cross-border financial services and demonstrates our firm commitment to compliance, security, and long-term sustainability.”

    Evfarmer is dedicated to empowering global agricultural development through innovation in both finance and technology. The company offers cutting-edge financial services to agricultural enterprises around the world.
    Its expansion into the U.S. market signifies not only a new phase of internationalization, but also a reaffirmation of its commitment to operating with transparency and in full regulatory compliance globally.

    According to its strategic roadmap, Evfarmer will continue accelerating its global expansion. The next phase will focus on entering key markets across Africa, Asia, and Europe, with plans to establish local branches in multiple countries to help build a global digital agricultural ecosystem.

    With the MSB license now in place, Evfarmer is officially a registered and compliant financial service provider under FinCEN regulations. The company has implemented the following compliance frameworks:

    • Robust Anti-Money Laundering (AML) policies
    • Know Your Customer (KYC) procedures
    • Internal risk control and reporting systems
    • Compliance audits for third-party agricultural partners

    About Evfarmer Capital Limited
    Evfarmer Capital Limited is a global leader in agricultural financial technology, dedicated to connecting agricultural supporters with real-world farming projects. The company is building a secure, efficient, and transparent agri-financial ecosystem that empowers both users and agricultural enterprises.

    Evfarmer’s headquarters is located at:
    20 Fenchurch St, London, United Kingdom, EC3M 3BY
    Its official U.S. branch is located at:
    5445 DTC Parkway, Greenwood Village, CO 80111, United States

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f08554bc-3c9d-489b-afda-5603cc819012

    https://www.globenewswire.com/NewsRoom/AttachmentNg/30ec1eba-3dd0-4596-9762-1ba9bda1e9f7

    The MIL Network –

    June 23, 2025
  • MIL-OSI Global: How emotions rule every stage of the entrepreneurial process

    Source: The Conversation – UK – By Florencio Portocarrero, Assistant Professor of Management, Department of Management, London School of Economics and Political Science

    tsyhun/Shutterstock

    Governments often see entrepreneurs as the engines of innovation, job creation and economic growth. In the UK alone, small and medium enterprises account for 99.8% of the business population and employ more than 16 million people.

    However, entrepreneurship is not just a strategic or financial undertaking. It’s primarily an emotional journey. From the spark of an idea to the triumphs and failures of running a business, emotions constantly shape how entrepreneurs think, decide, act and relate to others.

    Recent research I led draws on 276 studies to show that emotions don’t just accompany entrepreneurship – they drive it. Far from being distractions, emotions – like passion, fear, anxiety and compassion – and emotional intelligence can make or break a venture. Here are four ways they shape the entrepreneurial journey.

    1. The double edge of passion

    Ask any entrepreneur what keeps them going through long hours, tight budgets and personal sacrifice, and you’ll probably hear the word “passion”. Passion is one of the most studied emotions in entrepreneurship – for good reason. It fuels creativity, motivates persistence and can inspire others.

    Investors are more likely to back passionate founders and employees feel more engaged when their leaders show authentic enthusiasm. Passionate storytelling resonates with customers.

    Most of the benefits linked to passion emerge when entrepreneurs choose to pursue ventures that align with their identity and values. This aspect of the emotion is called “harmonious passion”, and it leads to greater wellbeing, better work-life balance and sustained motivation.

    But passion also has a darker side, called obsessive passion. This is a type of emotional experience driven by internal pressures (self-worth, for example) or external expectations (status or validation). Entrepreneurs with high levels of obsessive passion often become workaholics, suffer burnout and cannot walk away from their enterprises. This is even the case when their ventures are experiencing sustained failures.

    Passion can be a superpower. But like any power, it needs to be wielded with care.

    2. Fear and anxiety: not always the enemy

    Starting a business is inherently risky. Founders often deal with uncertain markets, fluctuating cash flow and high personal stakes. Unsurprisingly, fear and anxiety are common companions in this journey.

    These emotions are often framed negatively, but our research shows that they serve vital functions. Fear can make entrepreneurs more vigilant and help them anticipate challenges. Anxiety can enhance performance under pressure, such as during investor pitches or public launches. These can act like emotional smoke alarms, warning entrepreneurs about potential problems before they spiral.

    However, problems arise when these emotions become overwhelming. Chronic fear of failure can prevent entrepreneurs from taking calculated risks. It can lead to perfectionism, decision paralysis or the premature abandonment of promising ideas.

    The key is not to suppress fear or anxiety but to manage these emotions. Practices like journaling, peer mentorship and mindfulness training are valuable tools. They can help entrepreneurs reflect and use fear and anxiety constructively rather than letting it control them.

    Journaling can be an effective way for entrepreneurs to manage fear – and channel it positively.
    Daniel Hoz/Shutterstock

    3. Compassion as fuel for social enterprise

    Entrepreneurship isn’t always about chasing profits. Many founders launch ventures to address urgent social issues, from poverty and inequality to environmental degradation. These social entrepreneurs are often driven not just by vision but also by compassion.

    Our review found that compassion is a defining emotional characteristic of social entrepreneurs. It motivates them to act when others turn away. It helps them connect with communities, earn trust and stay resilient in the face of adversity. Their emotional connection to a mission creates a deep sense of purpose that can carry them through setbacks that might paralyse other entrepreneurs.

    This emotional resilience is often overlooked in traditional entrepreneurship education, which tends to emphasise strategy and metrics. But for many mission-driven founders, compassion is the emotional backbone of the business.

    4. Emotional intelligence as a business strategy

    Emotions don’t just shape how entrepreneurs feel, they affect how others respond to them. Our research points to emotional intelligence, the ability to recognise, understand and regulate emotions, as a critical skill for entrepreneurs.

    Founders who demonstrate high emotional intelligence motivate teams better, manage conflict and build trust with stakeholders. They’re more likely to retain talent, adapt under pressure and sustain long-term ventures. Investors, too, respond to emotional cues. A confident and passionate pitch can be more persuasive than a technically perfect but emotionally flat one.

    However, there’s a fine line. Too much emotional expression can backfire. Investors may question the founder’s judgement, and teams may interpret it as instability.

    The most effective entrepreneurs aren’t the ones who suppress their emotions but those who deploy them strategically. In a world where startups rise and fall on relationships, emotional intelligence is not a soft skill. It’s a core business strategy.

    Entrepreneurship is an emotional endeavour. The highs are exhilarating, but the lows can be crushing. While grit and skill matter, our review shows that founders’ emotional agility often determines whether they thrive or burn out.

    Innovation should be celebrated and it’s vital to recognise and support entrepreneurs’ emotional experiences. That means building programmes that teach emotional management, creating networks that offer psychological safety and reframing failure not as weakness but as part of the emotional terrain of entrepreneurship.

    This article was co-published with LSE Blogs at the London School of Economics.

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

    – ref. How emotions rule every stage of the entrepreneurial process – https://theconversation.com/how-emotions-rule-every-stage-of-the-entrepreneurial-process-258439

    MIL OSI – Global Reports –

    June 23, 2025
  • MIL-OSI Africa: Central African Republic : African Development Bank Strengthens Capacity to Tackle Illicit Financial Flows and Manage Resource-backed Loans

    The African Development Bank Group (www.AfDB.org) has successfully concluded a high-level workshop and policy dialogue aimed at enhancing the Central Africa Republic’s capacity to combat illicit financial flows (IFFs) and improve the governance of resource-backed loans.

    Held in Bangui from 10-13 June 2025 under the theme “Harnessing Africa’s Wealth: Curbing Illicit Financial Flows for Resilient Growth and Development,” the four-day event brought together 80 officials from key government ministries, including Finance, Economy, Planning, Environment, Mines and Geology – as well as civil society, the private sector, and local communities.

     The sessions were convened by the African Development Institute (ADI) (https://apo-opa.co/4k3PqnO) and the Natural Resources Management and Investment Centre (ECNR) (https://apo-opa.co/3I7F8Wc) as part of the Bank’s GONAT initiative, which supports improved natural resource governance in fragile and transitional states.

    High-level panelists included Prof. Richard Filakota, Minister of Economy, Planning and International Cooperation who also serves as the Bank’s Governor for the Central African Republic; Mr. Rufin Benam Beltoungou, Minister of Mines and Geology; and Prof. Chantal Laure Djebebe, Minister and Advisor to the Prime Minister on natural resources.

    Illicit financial flows are a major challenge across the continent, draining billions of dollars annually and severely constraining the ability of African countries to mobilize domestic resources for development.

    “The Central African Republic is rich in natural resources – gold, diamonds, uranium, copper, forests, among others. However, without enhanced oversight, institutional capacity, and sound strategic planning, these resources can become a source of political instability, illicit activities, and unsustainable debt,” warned Minister Beltoungou.

    Workshop participants emphasized the growing use of resource-backed loans – facilities collateralized by natural resources – to finance infrastructure development. While these instruments can unlock critical funding, they also pose risks.

    “Resource-backed loans are loans collateralized by natural resources and can help finance infrastructure such as roads, hospitals, and schools. However, caution is needed in managing repayment conditions, especially when a country lacks full control over its resource accounting,” emphasized Médard Goudozoui, a geological engineer and training beneficiary.

    The capacity-building sessions introduced a suite of practical tools and analytical methods for detecting and addressing IFFs in the Central African Republic.

    “We explored techniques such as the Partner Country Method, trade misinvoicing, and international indices like the Financial Secrecy Index and the Corruption Perception Index – all of which help identify discrepancies between export declarations and customs records in partner countries,” noted Fanta Mariette Samba-Vomi, a geological engineer and Director of the Mining Cadastre. According to her, such tools are critical in detecting anomalies related to under- or over-valuation of exported resources – as often seen in the gold and diamond sectors in the CAR.

    Gender inclusion in governance processes was also featured during the workshop.

    “We welcome the GONAT project’s focus on inclusive governance, with a target of at least 40% female participation. As a Bank, we recognize that transformative and sustainable change is only possible when the voices of women and local communities are integrated into policy formulation processes,” said Mamady Souaré, Country Manager of the African Development Bank Group in the Central African Republic.

    Echoing this, Alexia Molotouala, Head of Division at the Permanent Secretariat of the Kimberley Process, stated: “Increasing women’s involvement is critical because they play a key role in affected communities. Their participation enhances transparency, fairness, and policy effectiveness. Inclusive governance also promotes social cohesion and sustainable development.”

    Dr. Eric Ogunleye, Director of the African Development Institute emphasized the broader impact of the sessions. “It is our firm belief that the knowledge and tools acquired will go a long way in fostering stronger oversight of resource-backed loans and better governance of extractive resources.”

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Contact:
    Solange Kamuanga-Tossou
    Principal Regional Communication Officer
    African Development Bank
    media@afdb.org

    About the GONAT Project:
    GONAT is a flagship initiative of the African Development Bank Group. Designed to improve governance in the natural resources sector to facilitate domestic resource mobilization in fragile and transition states, the project specifically targets the Central African Republic, Chad, the Democratic Republic of Congo, Mozambique, Sierra Leone, and Zimbabwe. Natural resource sectors covered under GONAT include oil, gas, minerals, forestry, fisheries, and wildlife.

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

    MIL OSI Africa –

    June 23, 2025
  • Bridging Gaps, Building Futures: 11 Years of inclusive growth for minorities in India

    Source: Government of India

    Source: Government of India (4)

    Over the past eleven years, the central government has made substantial progress in promoting inclusive development among the six centrally notified minority communities—Muslims, Christians, Sikhs, Buddhists, Parsis, and Jains. Through a multi-dimensional approach involving education, employment, cultural preservation, digital transformation, and legislative reform, the Ministry of Minority Affairs has worked toward narrowing socio-economic disparities and empowering marginalized sections of society.

    Economic Empowerment and Skills Development

    At the heart of this transformative agenda is the Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS), a flagship scheme launched by the Ministry of Minority Affairs. This comprehensive initiative merges five earlier schemes—Seekho Aur Kamao, Nai Manzil, Nai Roshni, Hamari Dharohar, and USTTAD—into one. PM VIKAS focuses on upskilling youth, promoting entrepreneurship, and empowering minority women through leadership and training programs. It operates in conjunction with the Skill India Mission and integrates with the Skill India Portal for wider outreach and impact.

    The National Minorities Development and Finance Corporation (NMDFC) continues to play a pivotal role in economic empowerment. Offering concessional loans for self-employment, the NMDFC has disbursed ₹752.23 crore to over 1.74 lakh beneficiaries as of March 10, 2025, a significant rise from ₹431.20 crore in 2014-15.

    Infrastructure Development for Community Welfare

    Infrastructure growth has been spearheaded by the Pradhan Mantri Jan Vikas Karyakram (PMJVK), a centrally sponsored scheme aimed at holistic development in minority-concentrated areas. Since 2014-15, projects worth ₹18,416 crore have been sanctioned, covering approximately 5.63 lakh infrastructure units across sectors like health, education, sanitation, renewable energy, and women and child development. The scheme has now been digitized for better monitoring and transparency, with 1,300 Minority Concentration Areas identified across 308 districts in 32 states and UTs.

    Education and Scholarships

    While some schemes like the Maulana Azad National Fellowship (MANF) and Padho Pardesh have been discontinued due to overlaps with other government initiatives, others like the Begum Hazrat Mahal National Scholarship for girls in classes IX to XII, and Naya Savera (Free Coaching and Allied scheme) continue to support educational aspirations of minority youth. Naya Savera provides coaching for competitive exams and admissions into technical and professional courses.

    Cultural and Heritage Preservation

    Schemes like Hamari Dharohar and USTTAD (Upgrading the Skills and Training in Traditional Arts/Crafts for Development) focus on preserving the cultural legacy of minority communities. These schemes support exhibitions, documentation, and skill development among traditional artisans while creating market linkages for their products.

    In further efforts to promote cultural heritage, ₹25 crore has been sanctioned for a Centre for Gurumukhi Script at Khalsa College, Delhi University, while ₹11.17 crore has been approved for a Centre for Avesta Pahlavi Studies at Mumbai University. Projects worth ₹65 crore are in progress for Jain Studies and Manuscriptology at institutions in Indore and Gujarat.

    Special Initiatives for Community Support

    The Jiyo Parsi scheme, launched in 2013-14 to address the declining Parsi population, has aided the birth of over 400 Parsi children. In FY 2023-24, ₹3 crore was released, with a proposed budget of ₹6 crore for 2024-25.

    Under the Buddhist Development Plan (BDP), ₹300.17 crore worth of projects have been approved to support Buddhist communities, especially in the Himalayan belt. Key institutions like the Central Institute of Buddhist Studies (CIBS) and Central Institute of Himalayan Culture Studies (CIHCS) are implementing these initiatives through a hub-and-spoke model.

    The Government has also focused on easing the Haj pilgrimage, transferring its administration from the Ministry of External Affairs to the Ministry of Minority Affairs in 2016. Expenditures have increased from ₹47.37 crore in 2014-15 to ₹83.51 crore in 2023-24. Digital support has been introduced through the Haj Suvidha App, providing pilgrims access to essential services like travel details, emergency help, and training materials.

    Legislative Reforms and Digital Transformation

    A significant development came with the Waqf (Amendment) Act, 2025 notified on April 8, 2025. This amendment strengthens governance and transparency in the management of Waqf properties. It is complemented by the launch of the UMEED Portalon June 6, 2025—a centralized digital platform for uploading, verifying, and monitoring Waqf properties. These measures aim to modernize asset management and ensure properties are used for their intended religious and charitable purposes.

    Further modernization efforts include the Qaumi Waqf Board Taraqqiati Scheme (QWBTS) and Shahari Waqf Sampatti Vikas Yojana (SWSVY), which focus on computerization and commercial development of waqf properties. From 2019-20 to 2023-24, ₹23.87 crore and ₹7.16 crore were spent under QWBTS and SWSVY respectively.

    Promoting Indigenous Arts and Entrepreneurship

    The Ministry also organizes Lok Samvardhan Parv, a cultural event to showcase minority arts and crafts while fostering entrepreneurship. Three editions have been held—in July 2024 at Dilli Haat, January 2025 at Baba Kharak Singh Marg, and April 2025 at Kashmir University in Srinagar. These events feature workshops on design, marketing, GST, and digital commerce in partnership with the Export Promotion Council for Handicrafts (EPCH).

    June 23, 2025
  • MIL-OSI: TransUnion Appoints Alicia Zuiker Chief Human Resources Officer

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, June 23, 2025 (GLOBE NEWSWIRE) — Alicia Zuiker has joined TransUnion (NYSE: TRU) as Executive Vice President, Chief Human Resources Officer (CHRO), effective June 23, 2025.

    Zuiker is an accomplished CHRO with deep experience leading global talent strategies across a range of relevant industries including financial services, digital enablement and technology. Her leadership has helped both mature and entrepreneurial companies achieve transformation and growth. In her new role at TransUnion, she will oversee TransUnion’s Human Resources and Communications functions, reporting to TransUnion President and CEO Chris Cartwright and serving on the executive leadership team.

    “We have bold aspirations for growth and innovation at TransUnion, and our success starts with our people,” said Cartwright. “Alicia is a powerful addition to our leadership team and our ongoing work to build a Workforce for Good that enables our customers, consumers and company to thrive.”

    “TransUnion leverages data and insights to create positive impact for consumers, businesses and economies worldwide,” said Zuiker. “I’m thrilled to join the team and contribute to our culture of innovation and continued business growth.” 

    Most recently, Zuiker served as Chief People Officer for Lyft. Prior to that, she served as Chief People Officer for Visby Medical and helped Google evolve the people function for Google Cloud. She began her career with 14 years at GE in a series of HR leadership roles. She holds a master’s degree in human resource management from Purdue University and a bachelor’s degree in business administration and psychology from Alma College.

    About TransUnion (NYSE: TRU)
    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business.

    The MIL Network –

    June 23, 2025
  • MIL-OSI: TransUnion Appoints Alicia Zuiker Chief Human Resources Officer

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, June 23, 2025 (GLOBE NEWSWIRE) — Alicia Zuiker has joined TransUnion (NYSE: TRU) as Executive Vice President, Chief Human Resources Officer (CHRO), effective June 23, 2025.

    Zuiker is an accomplished CHRO with deep experience leading global talent strategies across a range of relevant industries including financial services, digital enablement and technology. Her leadership has helped both mature and entrepreneurial companies achieve transformation and growth. In her new role at TransUnion, she will oversee TransUnion’s Human Resources and Communications functions, reporting to TransUnion President and CEO Chris Cartwright and serving on the executive leadership team.

    “We have bold aspirations for growth and innovation at TransUnion, and our success starts with our people,” said Cartwright. “Alicia is a powerful addition to our leadership team and our ongoing work to build a Workforce for Good that enables our customers, consumers and company to thrive.”

    “TransUnion leverages data and insights to create positive impact for consumers, businesses and economies worldwide,” said Zuiker. “I’m thrilled to join the team and contribute to our culture of innovation and continued business growth.” 

    Most recently, Zuiker served as Chief People Officer for Lyft. Prior to that, she served as Chief People Officer for Visby Medical and helped Google evolve the people function for Google Cloud. She began her career with 14 years at GE in a series of HR leadership roles. She holds a master’s degree in human resource management from Purdue University and a bachelor’s degree in business administration and psychology from Alma College.

    About TransUnion (NYSE: TRU)
    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business.

    The MIL Network –

    June 23, 2025
  • MIL-OSI: Baylin Technologies to Present at the Small Cap Growth Virtual Investor Conference June 26th

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — Baylin Technologies Inc. (“Baylin” or the “Company”), based in Toronto, Ontario, Canada today announced that Chief Executive Officer Leighton Carroll, will present live at the Small Cap Growth Virtual Investor Conference hosted by VirtualInvestorConferences.com, on June 26th, 2025.

    DATE: June 26th
    TIME: 10:30am EDT
    LINK: REGISTER HERE

    Available for 1×1 meetings: June 26/27

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    About Baylin

    Baylin is a leading diversified global wireless technology company. Baylin focuses on research, design, development, manufacturing and sales of passive and active radio frequency and satellite communications products, and the provision of supporting services. Baylin aspires to exceed its customers’ needs and anticipate the direction of the market. For further information, please visit www.baylintech.com.

    About Virtual Investor Conferences®

    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    CONTACTS:

    Baylin Technologies Inc
    Name: Kelly Myles
    Title: Director Communications and Investor Relations
    Email: Kelly.Myles@baylintech.com

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    The MIL Network –

    June 23, 2025
  • MIL-OSI: FactSet Reports Results for Third Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    • Q3 GAAP revenues of $585.5 million, up 5.9% from Q3 2024.
    • Organic Q3 ASV of $2,296.9 million, up 4.5% year over year.
    • Q3 GAAP operating margin of 33.2%, down approximately 350 bps year over year, and adjusted operating margin of 36.8%, down 270 bps year over year.
    • Q3 GAAP diluted EPS of $3.87, down 5.4% from the prior year, and adjusted diluted EPS of $4.27, down 2.3% year over year.
    • FactSet appointed Sanoke Viswanathan as CEO, effective early September 2025. He succeeds Phil Snow, who will retire as CEO and Board member. Snow will remain a senior advisor through the end of the calendar year.

    NORWALK, Conn., June 23, 2025 (GLOBE NEWSWIRE) — FactSet (“FactSet” or the “Company”) (NYSE:FDS) (NASDAQ:FDS), a global financial digital platform and enterprise solutions provider, today announced results for its third quarter fiscal 2025 ended May 31, 2025.

    Third Quarter Fiscal 2025 Highlights

    • GAAP revenues increased 5.9%, or $32.8 million, to $585.5 million for the third quarter of fiscal 2025 compared with $552.7 million in the prior year period. Organic(1) revenues grew 4.4% year over year to $577.2 million during the third quarter of fiscal 2025. Growth in GAAP and Organic revenues this quarter was driven by wealth and institutional buy-side clients.
    • Annual Subscription Value (“ASV”) was $2,335.1 million at May 31, 2025, compared with $2,199.1 million at May 31, 2024. Organic ASV was $2,296.9 million at May 31, 2025, up 4.5% or $98.5 million year over year(2).
    • Organic ASV increased $22.6 million over the last three months. Please see the “ASV” section of this press release for details.
    • GAAP operating margin decreased to 33.2% compared with 36.6% for the prior year period. Adjusted operating margin decreased to 36.8% compared with 39.4% in the prior year period. GAAP and adjusted operating margin decreased primarily due to the lapping of both a lower bonus accrual and a one-time payroll tax adjustment that occurred in the prior year, as well as higher annual base salaries from inclusion of recent acquisitions, partially offset by growth in revenues. In addition, GAAP operating margin decreased due to higher amortization of intangible assets.
    • GAAP diluted earnings per share (“EPS”) decreased 5.4% to $3.87 compared with $4.09 for the same period in fiscal 2024. Adjusted diluted EPS decreased 2.3% to $4.27 compared with $4.37 in the prior year period. The decrease in GAAP diluted EPS and adjusted diluted EPS were mainly driven by higher operating expenses, partially offset by growth in revenues.
    • Net cash provided by operating activities was $253.8 million for the third quarter of fiscal 2025, an increase of 6.5% compared with the prior year period. Free cash flow increased to $228.6 million for the third quarter of fiscal 2025, compared with $216.9 million for the prior year period, an increase of 5.4%, primarily due to higher operating cash flows.
    • GAAP effective tax rate for the third quarter of fiscal 2025 increased to 17.5% compared with 17.0% for the third quarter of fiscal 2024. The increase was primarily due to certain discrete items, mainly lower excess tax benefits related to stock-based compensation, as well as a higher overall foreign tax rate, partially offset by lower U.S. tax on foreign earnings.

    (1) References to “organic” figures in this press release exclude the current year impact of acquisitions and dispositions completed within the past 12 months and the current year impact from changes in foreign currency.

    (2) Beginning in fiscal 2025, FactSet is reporting Organic ASV, rather than Organic ASV plus Professional Services, to focus on the recurring nature of its revenues. This underscores the shift of FactSet’s offerings toward providing more managed services and less project-based services.

    “We are pleased with our third quarter performance, which reflects the execution of our enterprise solution strategy. With a healthy pipeline and increased momentum, we are well-positioned to finish the fiscal year with strength,” said Phil Snow, CEO of FactSet. “As FactSet prepares for its next chapter of leadership, I’m proud of the solid foundation we’ve established, built on innovation, client trust, and industry-leading data and workflow solutions. This platform gives me great conviction in the Company’s continued success.”

    Key Financial Measures*

    (Condensed and Unaudited) Three Months Ended  
      May 31,  
    (In thousands, except per share data) 2025 2024 Change
    Revenues $ 585,520   $ 552,708   5.9 %
    Organic revenues $ 577,200   $ 552,708   4.4 %
    Operating income $ 194,155   $ 202,459   (4.1 )%
    Adjusted operating income $ 215,313   $ 217,960   (1.2 )%
    Operating margin   33.2 %   36.6 %  
    Adjusted operating margin   36.8 %   39.4 %  
    Net income $ 148,542   $ 158,135   (6.1 )%
    Adjusted net income $ 163,921   $ 168,796   (2.9 )%
    EBITDA $ 235,915   $ 239,930   (1.7 )%
    Diluted EPS $ 3.87   $ 4.09   (5.4 )%
    Adjusted diluted EPS $ 4.27   $ 4.37   (2.3 )%

             * See reconciliation of U.S. GAAP to adjusted key financial measures in the back of this press release.

    “As anticipated, the second half in fiscal 2025 is showing improved results, with third quarter organic ASV growth accelerating as we meet client demands and execute diligently,” said Helen Shan, FactSet’s CFO. “At the same time, we remain focused on investing in our strategic priorities and are reaffirming our fiscal 2025 guidance to achieve our full year targets.”

    Annual Subscription Value (ASV)

    ASV at any given point in time represents the forward-looking revenues for the next 12 months from all subscription services currently supplied to clients.

    ASV was $2,335.1 million at May 31, 2025, compared with $2,199.1 million at May 31, 2024. Organic ASV was $2,296.9 million at May 31, 2025, up $98.5 million from the prior year, for a growth rate of 4.5%. Organic ASV increased $22.6 million over the last three months.

    The buy-side and sell-side organic ASV annual growth rates as of May 31, 2025 were each 4.0%. Buy-side clients, including institutional asset managers, wealth managers, asset owners, partners, hedge funds and corporate clients, accounted for 82% of organic ASV. The remaining organic ASV came from sell-side firms, including broker-dealers, banking and advisory firms, and private equity and venture capital firms. Supplementary tables covering organic buy-side and sell-side ASV growth rates may be found on the last page of this press release.

    Segment Revenues and ASV

    ASV from the Americas was $1,513.1 million compared with ASV in the prior year period of $1,415.3 million. Organic ASV from the Americas increased 5.0% to $1,486.0 million. Americas revenues for the quarter increased to $380.5 million compared with $356.5 million in the third quarter of last year. The Americas quarterly organic revenues growth rate was 5.0% over the prior year period.

    ASV from EMEA was $581.9 million compared with ASV in the prior year period of $565.0 million. Organic ASV from EMEA increased 2.1% to $575.2 million. EMEA revenues were $145.7 million compared with $141.2 million in the third quarter of fiscal 2024. The EMEA quarterly organic revenues growth rate was 2.3% over the prior year period.

    ASV from Asia Pacific was $240.1 million compared with ASV in the prior year period of $218.8 million. Organic ASV from Asia Pacific increased 7.1% to $235.7 million. Asia Pacific revenues were $59.3 million compared with $55.0 million in the third quarter of fiscal 2024. The Asia Pacific quarterly organic revenues growth rate was 6.4% over the prior year period.

    Operational Highlights – Third Quarter Fiscal 2025

    • Client count as of May 31, 2025 was 8,811, a net increase of 166 clients in the past three months, driven by hedge fund, corporate and wealth management clients, and now includes clients from the LiquidityBook acquisition. The count includes clients with ASV of $10,000 and more.
    • User count was 220,496 as of May 31, 2025, a net increase of 1,355 users in the past three months, driven by an increase in wealth management users. The user count does not reflect the fiscal 2025 acquisitions.
    • Annual ASV retention was greater than 95% as of May 31, 2025. When expressed as a percentage of clients, annual retention was 91% as of May 31, 2025.
    • Employee headcount was 12,579 as of May 31, 2025, up 2.6% over the last 12 months, with the increase primarily in the sales and technology groups, mainly from the Irwin and LiquidityBook acquisitions and an increase in employees in our Centers of Excellence. FactSet’s Centers of Excellence account for approximately 67% of the Company’s employees.
    • A quarterly dividend of $41.6 million, or $1.10 per share, was paid on June 18, 2025, to holders of record of FactSet’s common stock at the close of business on May 30, 2025. This represents a 6% increase in the regular quarterly dividend from the $1.04 per share paid in the previous quarter and marks the 26th consecutive year the Company has increased dividends on a stock split-adjusted basis.
    • FactSet entered into a new credit agreement that includes a term loan of $500 million and a revolving credit facility of $1.0 billion, which remains undrawn. The term loan was used to repay borrowings under the 2022 credit agreement.
    • FactSet announced that Phil Snow will retire as CEO and a member of the Board, effective early September 2025 and will be succeeded by Sanoke Viswanathan, most recently CEO of International Consumer and Wealth at JPMorgan Chase. Snow will serve as a senior advisor through the end of the calendar year.
    • FactSet was named Databricks’ Financial Services Data Partner of the Year. FactSet data is available on the Databricks Marketplace to help clients accelerate time to value by eliminating manual data integration and enabling seamless and secure access to FactSet’s industry-leading proprietary and third-party connected data.
    • After the quarter, CUSIP Global Services announced a collaboration with Aumni, Inc., a JPMorgan company, to expand CUSIP coverage for venture-backed and private equity-owned companies. This expanded coverage provides standardized identifiers for company issuers and their financial instruments, thereby increasing efficiency, accuracy, and security in reporting, settlement, and analytics for venture capital firms, private equity firms, and their investors.

    Share Repurchase Program

    FactSet repurchased 184,050 shares of its common stock for $80.7 million at an average price of $438.45 during the third quarter of fiscal 2025 under the Company’s share repurchase program. As of May 31, 2025, $106.2 million remained available for share repurchases under this program. Additionally, on June 17, 2025, the Board of Directors of FactSet approved a new share repurchase authorization of up to $400 million, which will be available on September 1, 2025.

    Annual Business Outlook

    FactSet reaffirms its outlook for fiscal 2025 provided on March 20, 2025. The following forward-looking statements reflect FactSet’s expectations as of today’s date. Given the risk factors, uncertainties, and assumptions discussed below, actual results may differ materially. FactSet does not intend to update its forward-looking statements prior to its next quarterly results announcement.

    Fiscal 2025 Expectations

    • Organic ASV is expected to grow in the range of $100 million to $130 million during fiscal 2025.
    • GAAP revenues are expected to be in the range of $2,305 million to $2,325 million.
    • GAAP operating margin is expected to be in the range of 32.0% to 33.0%.
    • Adjusted operating margin is expected to be in the range of 36.0% to 37.0%.
    • FactSet’s annual effective tax rate is expected to be in the range of 17% to 18%.
    • GAAP diluted EPS is expected to be in the range of $14.80 to $15.40.
    • Adjusted diluted EPS is expected to be in the range of $16.80 to $17.40.

    Adjusted operating margin and adjusted diluted EPS guidance do not include certain effects of any non-recurring benefits or charges that may arise in fiscal 2025. Please see the back of this press release for a reconciliation of GAAP to adjusted metrics.

    Conference Call

    Third Quarter 2025 Conference Call Details

    Please register for the conference call using the above link before the call start time. The conference call platform will register your name and organization and provide dial-in numbers and a unique access pin. The conference call will have a live Q&A session.

    A replay will be available on the Company’s investor relations website after 1:00 p.m. Eastern Time on June 23, 2025, through June 23, 2026. The earnings call transcript will be available via FactSet CallStreet.

    Forward-looking Statements

    This press release contains forward-looking statements based on management’s current expectations, estimates, forecasts and projections about future events and circumstances, industries in which FactSet operates and the beliefs and assumptions of management. All statements that address expectations, guidance, outlook or projections about the future, including statements about the Company’s strategy for growth, product development, revenues, future financial results, anticipated growth, market position, subscriptions, expected expenditures, trends in FactSet’s business and financial results, are forward-looking statements. Forward-looking statements may be identified by words like “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “intends,” “projects,” “indicates,” “predicts,” “potential,” or “continue,” and similar expressions. Forward-looking statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in FactSet’s filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K and quarterly reports on Form 10-Q, as well as others, could cause results to differ materially from those expressed or implied by the forward-looking statements. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. FactSet assumes no duty to and does not undertake to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Future results could differ materially from historical performance.

    About Non-GAAP Financial Measures

    The Company reports its financial results in accordance with U.S. GAAP. The Company also refers to and presents certain additional non-GAAP financial measures. These measures include: organic revenues, adjusted operating margin, adjusted operating income, adjusted net income, EBITDA, adjusted diluted EPS, and free cash flow. The Company has included reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP at the back of this release.

    FactSet uses these non-GAAP financial measures both in presenting its results to stockholders and the investment community and in its internal evaluation and management of the business. The Company believes that these non-GAAP financial measures provide useful supplemental information to investors because they permit investors to view the Company’s performance using the same tools that management uses to gauge progress in achieving its goals. Investors may benefit from referring to these non-GAAP financial measures in assessing the Company’s performance and when planning, forecasting and analyzing future periods, and such measures may also facilitate comparisons to historical performance. The Company believes that organic revenues, adjusted operating margin, adjusted operating income, adjusted net income, EBITDA, and adjusted diluted EPS help to fully reflect the underlying economic performance of FactSet. The Company believes that free cash flow is useful to investors because it is an indication of cash flow that may be available to fund investments in future growth initiatives. The presentation of this non-GAAP financial information should not be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with GAAP. We are not able to reconcile certain forward-looking non-GAAP measures to reported measures without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the actual impact or exact timing of items that may impact comparability.

    About FactSet

    FactSet (NYSE:FDS | NASDAQ:FDS) supercharges financial intelligence, offering enterprise data and information solutions that power our clients to maximize their potential. Our cutting-edge digital platform seamlessly integrates proprietary financial data, client datasets, third-party sources, and flexible technology to deliver tailored solutions across the buy-side, sell-side, wealth management, private equity, and corporate sectors. With over 47 years of expertise, a presence in 20 countries, and extensive multi-asset class coverage, we leverage advanced data connectivity alongside AI and next-generation tools to streamline workflows, drive productivity, and enable smarter, faster decision-making. Serving more than 8,800 global clients and over 220,000 individual users, FactSet is a member of the S&P 500 dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.

    Investor Relations:                         
    Kevin Toomey
    +1.212.209.5259
    Kevin.Toomey@factset.com

    Media Relations:
    Kelsey Goldsmith
    +1.207.712.9726
    Kelsey.Goldsmith@factset.com

                 
    Consolidated Statements of Income (Unaudited)            
      Three Months Ended   Nine Months Ended
      May 31,   May 31,
    (In thousands, except per share data) 2025   2024   2025   2024
    Revenues $ 585,520     $ 552,708     $ 1,724,847     $ 1,640,869  
    Operating expenses              
    Cost of services   280,729       246,986       809,112       753,749  
    Selling, general and administrative   110,636       103,263       344,753       313,679  
    Total operating expenses   391,365       350,249       1,153,865       1,067,428  
                   
    Operating income   194,155       202,459       570,982       573,441  
                   
    Other income (expense), net              
    Interest income   1,509       4,568       4,483       10,427  
    Interest expense   (15,122 )     (16,894 )     (43,438 )     (50,231 )
    Other income (expense), net   (594 )     399       (20 )     736  
    Total other income (expense), net   (14,207 )     (11,927 )     (38,975 )     (39,068 )
                   
    Income before income taxes   179,948       190,532       532,007       534,373  
                   
    Provision for income taxes   31,406       32,397       88,583       86,743  
    Net income $ 148,542     $ 158,135     $ 443,424     $ 447,630  
                   
    Basic earnings per common share $ 3.92     $ 4.15     $ 11.68     $ 11.76  
    Diluted earnings per common share $ 3.87     $ 4.09     $ 11.53     $ 11.58  
                   
    Basic weighted average common shares   37,907       38,089       37,976       38,069  
    Diluted weighted average common shares   38,344       38,640       38,457       38,644  

    Certain prior year figures have been conformed to the current year’s presentation.

       
    Consolidated Balance Sheets (Unaudited)  
         
         
    (In thousands) May 31, 2025   August 31, 2024
    ASSETS          
    Cash and cash equivalents $ 356,361     $ 422,979  
    Investments   7,684       69,619  
    Accounts receivable, net of reserves of $13,917 at May 31, 2025 and $14,581 at August 31, 2024   271,851       228,054  
    Prepaid taxes   61,048       55,103  
    Prepaid expenses and other current assets   63,534       60,093  
    Total current assets   760,478       835,848  
         
    Property, equipment and leasehold improvements, net   79,627       82,513  
    Goodwill   1,277,855       1,011,129  
    Intangible assets, net   1,931,210       1,844,141  
    Deferred taxes   66,870       61,337  
    Lease right-of-use assets, net   119,191       130,494  
    Other assets   103,531       89,578  
    TOTAL ASSETS $ 4,338,762     $ 4,055,040  
         
    LIABILITIES    
    Accounts payable and accrued expenses $ 144,487     $ 178,250  
    Current debt   —       124,842  
    Current lease liabilities   33,219       31,073  
    Accrued compensation   98,131       93,279  
    Deferred revenues   170,897       159,761  
    Current taxes payable   30,545       40,391  
    Dividends payable   41,644       39,470  
    Total current liabilities   518,923       667,066  
         
    Long-term debt   1,430,197       1,241,131  
    Deferred taxes   16,573       8,452  
    Deferred revenues, non-current   312       1,344  
    Taxes payable   48,072       40,452  
    Long-term lease liabilities   157,088       177,521  
    Other liabilities   12,415       6,614  
    TOTAL LIABILITIES $ 2,183,580     $ 2,142,580  
         
    STOCKHOLDERS’ EQUITY    
    TOTAL STOCKHOLDERS’ EQUITY $ 2,155,182     $ 1,912,460  
         
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 4,338,762     $ 4,055,040  
                   
    Consolidated Statements of Cash Flows (Unaudited)  
      Nine Months Ended
      May 31,
    (In thousands) 2025   2024
    CASH FLOWS FROM OPERATING ACTIVITIES              
    Net income $ 443,424     $ 447,630  
    Adjustments to reconcile net income to net cash provided by operating activities    
    Depreciation and amortization   114,972       91,154  
    Amortization of lease right-of-use assets   23,152       22,846  
    Stock-based compensation expense   47,154       46,707  
    Deferred income taxes   3,154       (6,979 )
    Other, net   7,428       7,831  
    Changes in assets and liabilities, net of effects of acquisitions    
    Accounts receivable   (41,492 )     (7,176 )
    Prepaid expenses and other assets   6,699       (14,941 )
    Accounts payable and accrued expenses   (49,717 )     17,296  
    Accrued compensation   3,789       (33,329 )
    Deferred revenues   4,955       13,817  
    Taxes payable, net of prepaid taxes   (19,108 )     (15,992 )
    Lease liabilities, net   (30,250 )     (31,687 )
    Net cash provided by operating activities   514,160       537,177  
         
    CASH FLOWS FROM INVESTING ACTIVITIES    
    Purchases of property, equipment, leasehold improvements and capitalized internal-use software   (74,840 )     (59,722 )
    Acquisition of businesses, net of cash and cash equivalents acquired   (348,255 )     —  
    Purchases of investments   (4,433 )     (44,936 )
    Proceeds from maturity or sale of investments   58,155       —  
    Net cash provided by (used in) investing activities   (369,373 )     (104,658 )
         
    CASH FLOWS FROM FINANCING ACTIVITIES    
    Proceeds from debt   803,410       —  
    Repayments of debt   (742,500 )     (187,500 )
    Dividend payments   (118,329 )     (111,297 )
    Proceeds from employee stock plans   72,616       83,497  
    Repurchases of common stock   (193,838 )     (171,918 )
    Other financing activities   (20,686 )     (15,690 )
    Net cash provided by (used in) financing activities   (199,327 )     (402,908 )
         
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   1,966       (1,911 )
    Net increase (decrease) in cash, cash equivalents and restricted cash   (52,574 )     27,700  
    Cash and cash equivalents at beginning of period   422,979       425,444  
    Cash, cash equivalents and restricted cash at end of period $ 370,405     $ 453,144  
         
    Reconciliation of total cash, cash equivalents and restricted cash:    
    Cash and cash equivalents $ 356,361     $ 453,144  
    Restricted cash included in Prepaid expenses and other current assets   6,522       —  
    Restricted cash included in Other assets   7,522       —  
    Total cash, cash equivalents and restricted cash $ 370,405     $ 453,144  

    Certain prior year figures have been conformed to the current year’s presentation.

    Reconciliation of U.S. GAAP Results to Adjusted Financial Measures

    Organic Revenues

    Organic revenues exclude the current year impact of revenues from acquisitions and dispositions completed within the past 12 months and the current year impact from changes in foreign currency. The table below provides a reconciliation of revenues to organic revenues:

                       
    (Unaudited) Three Months Ended    
      May 31,    
    (In thousands) 2025   2024   Change
    Revenues $ 585,520     $ 552,708       5.9 %
    Acquisition revenues   (7,781 )     —      
    Currency impact   (539 )     —      
    Organic revenues $ 577,200     $ 552,708       4.4 %
                           

    Non-GAAP Financial Measures

    The table below provides a reconciliation of operating income, operating margin, net income and diluted EPS to adjusted operating income, adjusted operating margin, adjusted net income, EBITDA, and adjusted diluted EPS.

    Adjusted operating income and margin, adjusted net income, and adjusted diluted earnings per share exclude acquisition-related intangible asset amortization and non-recurring items. EBITDA represents earnings before interest expense, provision for income taxes and depreciation and amortization expense.

               
      Three Months Ended        
      May 31,        
    (in thousands, except per share data) 2025   2024   % Change
    Operating income $ 194,155     $ 202,459       (4.1 )%
    Intangible asset amortization   19,182       16,674          
    Business acquisitions and related costs   1,976       423          
    Restructuring/severance   —       (1,596 )        
    Adjusted operating income $ 215,313     $ 217,960       (1.2 )%
    Operating margin   33.2 %     36.6 %        
    Adjusted operating margin(1)   36.8 %     39.4 %        
    Net income $ 148,542     $ 158,135       (6.1 )%
    Intangible asset amortization   13,943       11,466          
    Business acquisitions and related costs   1,436       291          
    Restructuring/severance   —       (1,096 )        
    Adjusted net income(2) $ 163,921     $ 168,796       (2.9 )%
    Net income   148,542       158,135       (6.1 )%
    Interest expense   15,122       16,894          
    Income taxes   31,406       32,397          
    Depreciation and amortization expense   40,845       32,504          
    EBITDA $ 235,915     $ 239,930       (1.7 )%
    Diluted EPS $ 3.87     $ 4.09       (5.4 )%
    Intangible asset amortization   0.36       0.30          
    Business acquisitions and related costs   0.04       0.01          
    Restructuring/severance   —       (0.03 )        
    Adjusted diluted EPS(2) $ 4.27     $ 4.37       (2.3 )%
    Weighted average common shares (diluted)   38,344       38,640          
    (1) Adjusted operating margin is calculated as Adjusted operating income divided by Revenues.
    (2) For purposes of calculating Adjusted net income and Adjusted diluted EPS, all adjustments for the three months ended May 31, 2025 and May 31, 2024 were taxed at an adjusted tax rate of 27.3% and 31.2%, respectively.
       

    Business Outlook Operating Margin, Net Income and Diluted EPS

    (Unaudited)    
    Figures may not foot due to rounding Annual Fiscal 2025 Guidance
    (In millions, except per share data) Low end of range   High end of range
    Revenues $ 2,305     $ 2,325  
    Operating income $ 761     $ 744  
    Operating margin   33.0 %     32.0 %
         
    Intangible asset amortization   80       81  
    Other adjustments (net)   12       12  
    Adjusted operating income $ 853     $ 837  
    Adjusted operating margin(a)   37.0 %     36.0 %
         
    Net income $ 588     $ 567  
    Intangible asset amortization   66       66  
    Other adjustments (net)   10       10  
    Discrete tax items   (4 )     (4 )
    Adjusted net income $ 660     $ 640  
         
    Diluted earnings per common share $ 15.40     $ 14.80  
    Intangible asset amortization   1.73       1.73  
    Other adjustments (net)   0.30       0.30  
    Discrete tax items   (0.03 )     (0.03 )
    Adjusted diluted earnings per common share $ 17.40     $ 16.80  
    (a) Adjusted operating margin is calculated as Adjusted operating income divided by Revenues.
       

    Free Cash Flow

    Cash flows provided by operating activities have been reduced by purchases of property, equipment, leasehold improvements and capitalized internal-use software to report non-GAAP free cash flow.

         
    (Unaudited) Three Months Ended  
      May 31,  
    (In thousands) 2025   2024   Change
    Net Cash Provided for Operating Activities $ 253,833     $ 238,235       6.5 %
    Less: purchases of property, equipment, leasehold improvements and capitalized internal-use software   (25,230 )     (21,339 )  
    Free Cash Flow $ 228,603     $ 216,896       5.4 %
                           

    Supplementary Schedules of Historical ASV by Client Type

    The following table presents the percentages and growth rates of organic ASV by client type, excluding the impact of currency movements, and may be useful to facilitate historical comparisons. Organic ASV excludes acquisitions and dispositions completed within the last 12 months and the effects of foreign currency movements.

    The numbers below do not include professional services or issuer fees.

                     
      Q3’25 Q2’25 Q1’25 Q4’24 Q3’24 Q2’24 Q1’24 Q4’23
    % of ASV from buy-side clients 82.3% 82.3% 82.1% 82.0% 82.3% 82.0% 82.0% 81.8%
    % of ASV from sell-side clients 17.7% 17.7% 17.9% 18.0% 17.7% 18.0% 18.0% 18.2%
                     
    ASV Growth rate from buy-side clients 4.0% 4.1% 4.3% 4.9% 5.3% 5.6% 7.2% 6.9%
    ASV Growth rate from sell-side clients 4.0% 2.2% 3.5% 3.8% 3.7% 5.5% 7.6% 9.3%
                     

    The following table presents the calculation of organic ASV.

       
    (In millions) As of May 31, 2025
    As reported ASV $ 2,335.1  
    Currency impact (a)   (5.7 )
    Acquisition ASV (b)   (32.5 )
    Organic ASV $ 2,296.9  
    Organic ASV annual growth rate   4.5 %
    (a) The impact from foreign currency movements.
       
    (b) Acquired ASV from acquisitions completed within the last 12 months.

    The MIL Network –

    June 23, 2025
  • MIL-OSI: OTC Markets Group Welcomes Torex Gold Resources Inc. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Torex Gold Resources Inc. (TSX: TXG; OTCQX: TORXF), an intermediate gold producer based in Canada, has qualified to trade on the OTCQX® Best Market. Torex Gold Resources Inc. upgraded to OTCQX from the Pink® market.

    Torex Gold Resources Inc. begins trading today on OTCQX under the symbol “TORXF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    About Torex Gold Resources Inc.
    Torex Gold Resources Inc. is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometres southwest of Mexico City.

    The Company’s principal asset is the Morelos Complex, which includes the producing Media Luna Underground, ELG Underground, and ELG Open Pit mines, the development stage EPO Underground Project, a processing plant, and related infrastructure. Commercial production from the Morelos Complex commenced on April 1, 2016 and an updated Technical Report for the Morelos Complex was released in March 2022.

    Torex’s key strategic objectives are: deliver Media Luna to full production and build EPO; optimize Morelos production and costs; grow reserves and resources; disciplined growth and capital allocation; retain and attract best industry talent; and industry leader in responsible mining. In addition to realizing the full potential of the Morelos Property, the Company is seeking opportunities to acquire assets that enable diversification and deliver value to shareholders.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

    June 23, 2025
  • MIL-OSI: Churchill Reports High-Grade Silver Results up to 395 g/t Silver at the Black Raven Property, Central Newfoundland

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 23, 2025 (GLOBE NEWSWIRE) — Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce that due-diligence sampling on its Black Raven property returned silver assays of up to 395 g/t silver from grab samples, confirming that high-grade Ag, Sb, and Au are present at several prospects. Five grab samples returned silver assays over 150 g/t (4.69 opt), along with high-grade gold, lead and zinc, emphasizing the polymetallic metal assemblage of critical minerals present in the Black Raven vein system, per the summary table and figure below.

    Sample #   300   304   305   315   321
    Silver grade (g/t)   153   329   321   251   395
    Gold grade (g/t)   3.07   7.70   7.79   5.09   2.16
    Lead grade (%)   3.10   6.47   5.80   8.83   7.34
    Zinc grade (%)   2.85   4.97   >5.0   >5.0   >5.0
    Copper grade (%)   nil   0.37   0.50   0.39   0.40
                         

    These samples exceeded the laboratory’s original upper detection limit for silver (100 g/t – see release of May 28th 2025), and the results reported herein are from the overage assay protocols. The Black Raven vein systems have never been drilled.

    “These silver results confirm our belief that the Black Raven system can carry high grade metals in multiple locations,” commented Paul Sobie, CEO of Churchill, “Churchill’s geological team are on site carrying out a summer surface exploration program, with trenching and drilling commencing as soon as permits are received. Work is presently focused on property mapping and extending the sampled strike extent of the high-grade Frost Cove (antimony), Stewart (gold), and Taylor’s Room (silver-gold) prospects as well as defining several other prospects including Moreton’s Harbour 1 (gold-silver) and Moreton’s Harbour Head (antimony-gold-silver). This work is going well and continues to encounter well-mineralized samples in all locales, confirming and expanding upon historical work.”

    The Black Raven Property hosts two past-producing mines dating back to the late 1800’s, the Frost Cove Antimony Mine, and the Stewart Gold Mine which returned antimony grades of 35.1% and gold grades of 14.4 g/t, respectively (see release of 12th June 2025). The silver results reported herein are from different locations on the property (see attached map). Black Raven is located approximately 60km northwest of Gander, and approximately 100km north of the Beaver Brook Antimony Mine, currently on care and maintenance.

    Antimony: A Critical Mineral in High Demand

    Antimony is a critical mineral essential for national security and modern technology, with over 90% of global production controlled by China, Russia, and other non-Western jurisdictions. The metal is a vital component in military applications, while also being crucial for certain flame retardants, strengthening alloys in batteries, and emerging energy storage technologies. Recent Chinese export restrictions have driven prices to record levels exceeding $50,000 per tonne, highlighting antimony’s strategic importance to a “Fortress North America” approach to critical mineral supply chains and making domestic North American sources increasingly important for economic and national security.

    Due-Diligence Sampling Program

    Antimony, gold, silver, lead, zinc, copper and molybdenum samples were selected by Dr. Derek Wilton, independent QP to Churchill, during field visits on April 24th and 25th. All samples were labelled and securely bound and delivered to the prep laboratory of SGS Canada Inc. in Grand Falls-Windsor, for crushing and pulverizing. Splits were couriered to Burnaby, B.C. by SGS for GE_AAS33E50 silver assays and overlimit samples by the GO_FAG37V analytical method. All due-diligence samples described in this news release were grab samples and are selective by nature and are unlikely to represent average grades of the property.

    The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C Wilton, P.Geo., FGC, who is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Dr. Wilton is an honorary research professor of Economic Geology at Memorial University in St. John’s and is independent of the Company for the purposes of NI 43-101.

    Black Raven Antimony-Gold Property

    The Black Raven Property comprises nine map-staked licenses constituting a single contiguous block of 125 claims that in total cover 3,125ha or 31.25km2. Churchill and the vendors have agreed to a 4km wide area of interest around the property boundaries as part of their agreement.

    The past sampling data reported in this News Release is historic in nature and does not meet NI43-101 standards. Churchill has relied on the information supplied in the Government of Newfoundland field assessment reports and from information found in the Mineral Occurrence Database System operated by the Newfoundland Department of Industry, Energy and, Technology. Natural Resources.

    The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C Wilton, P.Geo., FGC, who is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Dr. Wilton is an honorary research professor of Economic Geology at Memorial University in St. John’s and is independent of the Company for the purposes of NI 43-101.

    References:

    Heyl, George R., 1936. Geology and Mineral Deposits of the Bay of Exploits Area. Newfoundland Department of Natural Resources, Geological Section, Bulletin No 3. 65 pages.

    Fogwill, W.D., 1968. Report on a copper prospect at Western Head, Moreton’s Harbour in the Notre Dame Bay Area, Newfoundland. Newfoundland and Labrador Geological Survey, Assessment File 2E/10/0350, 1968, 48 pages

    Kay, E.A. 1981. A geochemical and fluid inclusion study of the arsenopyrite-stibnite-gold mineralization, Moreton’s Harbour, Notre Dame Bay, Newfoundland. Master Thesis, Memorial University of Newfoundland, St. John’s, Canada, 1981. Newfoundland and Labrador Geological Survey, Assessment File 002E/10/1075, 1981, 209 pages.

    Quinlan E, 2013. First Year Assessment Report for 019872M, Ninth Year Assessment Report for 015553M, and Third Year Assessment Report for 017787M for Exploration within the Black Raven Property, NTS Map Sheet 2E/10. Newfoundland and Labrador Geological Survey Assessment Report, 69 pages

    Quinlan, E. 2025. 21st, 8th & 4th Year Assessment Report of Diamond Drilling & Prospecting On Black Raven Property, License 023212M (21st Year), License 02840m (8th Year), License 35674m (4th Year) NTS 02E/10, North-Central Newfoundland. Property centered at approximately 49°57’N, 54°87’ W. 34 pages.

    About Churchill Resources

    Churchill Resources Inc. is a Canadian exploration company focused on strategic, critical minerals in Canada, principally at its prospective Black Raven, Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board, and advisors have decades of combined experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill’s Newfoundland and Labrador projects have the potential to benefit from the province’s large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.

    Churchill’s Taylor Brook Nickel-Copper-Cobalt-Vanadium-Titanium Property, and Florence Lake Nickel Property, are both in good standing for a number of years, such that further exploration and development can await improved market conditions sentiment while the Company focuses on high-grade antimony-gold and other critical minerals.

    Further Information

    For further information regarding Churchill, please contact:

    Churchill Resources Inc.
    Paul Sobie, Chief Executive Officer
    psobie@churchillresources.com
    Tel. 416.365.0930 (o)
          647.988.0930 (m)

    Alec Rowlands, Business Development & IR
    Alec.rowlands1@gmail.com
    Tel. 416.721.4732 (m)

    FORWARD-LOOKING STATEMENTS

    This news release contains certain forward-looking statements, including, but not limited to, statements about Churchill’s objectives, goals and exploration activities proposed to be conducted on its properties; future growth potential of Churchill, including whether any proposed exploration programs at any of its properties will be successful; exploration results; and future exploration plans and costs. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. In particular, this release contains forward-looking information relating to, among other things, the Company’s goals and objectives, and future exploration work to be conducted on the Company’s Black Raven Antimony Property. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

    Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Such factors, among other things, include: exploration results on the Black Raven Antimony Property; the expected benefits to Churchill relating to the exploration proposed to be conducted on its properties; receipt of all regulatory approvals in connection with the transaction contemplated herein; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Churchill’s properties, if required; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; and title to properties. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Churchill cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Churchill assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f527078-103d-4201-8e35-585d165deaef

    The MIL Network –

    June 23, 2025
  • MIL-OSI: ATR Launches Free Logistics Program to Introduce Businesses to Cost-Effective, Secure ITAD Solutions in the Gulf Coast Region and Beyond

    Source: GlobeNewswire (MIL-OSI)

    PENSACOLA, Fla., June 23, 2025 (GLOBE NEWSWIRE) — Advanced Technology Recycling (ATR), a national leader in IT asset disposition (ITAD) and R2v3/RIOS certified electronics recycling, is excited to launch a limited-time complimentary logistics program for qualifying new businesses in the Gulf Coast Region and select surrounding markets. This special offer is part of a strategic initiative to help organizations seamlessly onboard with ATR by reducing upfront transportation costs and providing access to secure, certified services through ATR’s new corporate headquarters and state-of-the-art refurbishment center in Pensacola, Florida.

    This localized campaign demonstrates ATR’s commitment to making secure, sustainable, and cost-effective IT asset management more accessible to new clients in the region. The new program enables organizations throughout the Gulf Coast and surrounding areas to benefit from free pickup and secure transport — a vital bridge to ATR’s expansive national processing network and certified services.

    Local Logistics, Nationwide Strength

    ATR’s company-owned fleet of over 60 assets — from agile cargo vans to fully equipped long-haul semis — is built to handle asset recovery projects of every size, now including mobile on-site shredding services. For a limited time, qualifying businesses can take advantage of free inbound logistics to ATR’s Pensacola headquarters, creating a low-risk, high-value pathway into ATR’s comprehensive suite of ITAD and electronics recycling solutions. This strategic hub offers businesses throughout the Gulf Coast region direct access to certified, secure, and cost-optimized technology lifecycle services.

    “Our free logistics program helps new customers get connected to our secure processing capabilities without upfront transportation costs,” said Brodie Ehresman, Director of Marketing and Strategic Business Development. “This initiative brings the industry’s most secure chain of custody right to your loading dock — making it easier than ever to choose sustainability, while not compromising security.”

    Improving ROI with Fee Management and Profit-Sharing Methodologies

    Beyond our free logistics initiative, ATR offers a variety of fee management solutions that help clients reduce processing costs and maximize their return on retired technology.

    These include, but are not limited to:

    • Transparent profit-sharing programs that maximize returns on resale assets
    • eCommodity programs that reduce cost and pay for pre-sorted non-inventoried scrap materials that meet the minimum requirements.
    • Individual account management and customizable SOW planning
    • Free Access to online client web portal that offers scheduling, reports, and more
    • Cost effective white glove extraction services tailored to fit your needs

    These cost-saving options demonstrate ATR’s commitment to delivering sustainable and secure IT Asset Management (ITAM) services to clients.

    Real-Time Fleet Monitoring for Transparent Chain of Custody

    ATR’s logistics platform utilizes Geotab technology across its entire fleet, enabling unparalleled visibility and proactive communication. Key features include:

    • Live GPS tracking of all shipments
    • Onboard diagnostics, route re-routing, and speed compliance
    • Live video feeds from cargo compartments and driver cabins
    • Geofencing for automated check-in/check-out notifications
    • Full compliance with Electronic Logging Device (ELD) mandates

    Why Choose ATR?

    ATR is a multi-certified, ITAR-registered provider serving a wide range of vertical markets, including but not limited to Aerospace, Defense, and all Federal and State Agencies:

    • 30+ years of experience in IT asset management and electronics recycling
    • R2v3, RIOS, certifications, and GSA Schedule pricing discounts for Government
    • Nationwide processing hubs strategically located throughout the U.S.
    • Pollution Liability and Data Breach Insurance, with COI available upon request
    • Zero data breaches or environmental violations

    ATR’s corporate headquarters in Pensacola is now a cornerstone for delivering regionally optimized services with national reach.

    Not in the Gulf Region? No Worries, ATR has nationwide coverage.  

    While the free logistics program is currently focused on serving businesses throughout the Gulf Coast Region, ATR’s capabilities extend far beyond. If your organization is located outside the region and you have significant volumes of electronics to process or remarket, ATR can still help. Our nationwide fleet of vehicles, strategically stationed across the U.S., offers flexible logistics options. Whether you’re looking to reduce processing costs, liquidate surplus IT assets, or implement a secure chain of custody for enterprise-level refresh cycles, ATR has the resources and expertise to support you, wherever you are.

    Join the Movement Toward Smarter ITAD

    This program offers an opportunity to reduce your total cost of ownership, enhance your sustainability scorecard, and gain access to industry-leading secure processing without the barrier of transportation costs.

    Interested businesses can learn more or request service by visiting www.ATRecycle.com or contacting ATR directly.

    About Advanced Technology Recycling (ATR):
    ATR is a trusted provider of IT asset disposition, electronics recycling, and data destruction services. With over three decades of experience, ATR delivers secure, compliant, and sustainable solutions to clients across all industries. ATR is ITAR registered and maintains R2v3 and RIOS certifications at all our processing centers located in Nevada, Utah, Illinois, Pennsylvania, Alabama, and Texas.

    www.ATRecycle.com

    The MIL Network –

    June 23, 2025
  • MIL-OSI Global: African finance ministers shouldn’t be making bond deals: how to hand over the job to experts

    Source: The Conversation – Africa – By Misheck Mutize, Post Doctoral Researcher, Graduate School of Business (GSB), University of Cape Town

    Eurobonds, debts owed in a foreign currency, have become a quick and attractive way for African countries to borrow money. They are behind a sharp rise in commercial borrowing as a percentage of total external debt: it has nearly doubled from 27% in 2011 to 52% in 2020. This has increased the debt vulnerability of most African countries.

    Recent developments, however, show that most of the bonds have not been structured properly. As a result, African countries are paying way over the odds relative to their sovereign risks.

    Based on my bond price modelling expertise, it is my view that there are two major drivers of the mispricing of African government bonds. They are interlinked.

    Firstly, a lack of expertise in debt management offices, whose job it is to negotiate the terms of any debt deals and to oversee their execution. This is a topic I explored in a recent article.




    Read more:
    African countries are bad at issuing bonds, so debt costs more than it should: what needs to change


    The second factor, which I address here, is that in many African countries, finance ministers have assumed primary responsibility for Eurobond issuance. They engage directly with investment bankers, legal advisors and credit rating agencies.

    In my view they shouldn’t.

    Finance ministers should stay away from debt negotiations because they are political appointees. They operate under incentives tied to electoral cycles, not fiscal sustainability. Their short tenures and desire to fund visible projects often conflict with the long-term nature of sovereign debt obligations.

    They don’t have the necessary expertise to handle the technical complexity required to get the best possible deal, either.

    Simply calling for ministers to step aside would ignore the institutional realities in most African countries. In particular, debt management offices have severe capacity constraints.

    Nevertheless, as global financial conditions tighten and African countries seek to refinance maturing Eurobonds or issue new instruments, the risks of politicised borrowing must be minimised. Ministers should spend their energies on ensuring their debt management offices are well staffed with top quality teams. They should then leave it up to these technical staff to prepare and arrange the financing.

    This would leave room for ministers to manage any disagreements between technical staff and the banks when necessary. And to close the final deal.

    Ministers versus the experts

    Eurobond issuance involves advanced financial engineering – pricing models, investor engagement, covenant structuring and legal compliance across jurisdictions. It takes a deep understanding of capital markets.

    When debt management offices are operating at their best, they are filled with people who have this knowledge. They have a combination of financial market and public policy skills, including debt portfolio management, risk analysis and debt transaction processing.

    In discussions with debt managers at the African Sovereign Debt Conference it’s become clear to me that debt managers are sidelined in the international bond issuance negotiations. They are also sidelined in the execution process, except for administrative support.

    What happens instead is that finance ministers are usually key contacts of the investment bankers. By approaching a minister directly, investment bankers get to close their mandates faster.

    But this minimises due diligence and bypasses internal safeguards. Ministers may not pay attention to complex legal clauses under foreign jurisdictions, details of investor negotiations and fee structures. They may accept unfavourable terms, ignore sustainability assessments and obscure fiscal vulnerabilities in pursuit of political wins and quick disbursements.

    For example, in 2018, Ghana’s then finance minister was internationally lauded for financial stewardship. Ghana was the first African issuer of a longest tenure and a zero-coupon bond. A year later, the country defaulted, suggesting the bond terms weren’t great for the country. The minister nevertheless received several awards as the best and most prudent in Africa.

    There is also the issue of conflicts of interest. When the same actor – in this case the finance minister – proposes, negotiates and approves a debt instrument, the system lacks accountability.

    In many African countries, parliaments, audit institutions and civil society have limited understanding about the technical details of bond agreements. Ministers can easily sideline procurement rules and transparency mechanisms, resulting in non-competitive contracts and opaque fees paid to underwriters and advisors.

    Investment bankers prefer this arrangement as it works in their favour.

    Reforms that are needed

    Before finance ministers can hand over control, debt management offices must be equipped. This requires targeted reforms, including:

    • Capacity building through strategic partnerships: African debt management offices should work with international issuing syndicates and development partners to gain first-hand exposure to structuring, pricing and marketing global bonds.

    • Human capital reforms: Governments must attract and retain highly skilled debt managers by offering competitive pay, professional development opportunities and protection from political interference.

    • Debt management offices must be staffed by dedicated quantitative analysts. They must also be equipped to use real-time market intelligence systems and formal investor relations programmes.

    • Gradual delegation: Authority can be shifted, starting with less complex debt instruments.

    The role of the finance minister must evolve. Ministers should provide strategic leadership: approving borrowing strategies, ensuring alignment with macroeconomic goals, and engaging parliament and the public.

    Their function should shift from operational to institutional oversight and accountability.

    Structural reforms must embed the capacity, autonomy and transparency required for debt management offices to lead effectively.

    In South Africa, for example, the assets and liabilities management division of the National Treasury department manages government’s annual funding programme.

    Professionalising the debt issuance process is not just about avoiding technical mistakes. It’s also about creating resilient institutions that can withstand political turnover. That fosters credibility and long-term access to capital.

    Ministers should remain accountable to the public, and debt management offices must do their work based on technical merit.

    Misheck Mutize is affiliated with the African Union – African Peer Review Mechanism as a Lead Expert on credit ratings

    – ref. African finance ministers shouldn’t be making bond deals: how to hand over the job to experts – https://theconversation.com/african-finance-ministers-shouldnt-be-making-bond-deals-how-to-hand-over-the-job-to-experts-259017

    MIL OSI – Global Reports –

    June 23, 2025
  • MIL-OSI Global: African finance ministers shouldn’t be making bond deals: how to hand over the job to experts

    Source: The Conversation – Africa – By Misheck Mutize, Post Doctoral Researcher, Graduate School of Business (GSB), University of Cape Town

    Eurobonds, debts owed in a foreign currency, have become a quick and attractive way for African countries to borrow money. They are behind a sharp rise in commercial borrowing as a percentage of total external debt: it has nearly doubled from 27% in 2011 to 52% in 2020. This has increased the debt vulnerability of most African countries.

    Recent developments, however, show that most of the bonds have not been structured properly. As a result, African countries are paying way over the odds relative to their sovereign risks.

    Based on my bond price modelling expertise, it is my view that there are two major drivers of the mispricing of African government bonds. They are interlinked.

    Firstly, a lack of expertise in debt management offices, whose job it is to negotiate the terms of any debt deals and to oversee their execution. This is a topic I explored in a recent article.




    Read more:
    African countries are bad at issuing bonds, so debt costs more than it should: what needs to change


    The second factor, which I address here, is that in many African countries, finance ministers have assumed primary responsibility for Eurobond issuance. They engage directly with investment bankers, legal advisors and credit rating agencies.

    In my view they shouldn’t.

    Finance ministers should stay away from debt negotiations because they are political appointees. They operate under incentives tied to electoral cycles, not fiscal sustainability. Their short tenures and desire to fund visible projects often conflict with the long-term nature of sovereign debt obligations.

    They don’t have the necessary expertise to handle the technical complexity required to get the best possible deal, either.

    Simply calling for ministers to step aside would ignore the institutional realities in most African countries. In particular, debt management offices have severe capacity constraints.

    Nevertheless, as global financial conditions tighten and African countries seek to refinance maturing Eurobonds or issue new instruments, the risks of politicised borrowing must be minimised. Ministers should spend their energies on ensuring their debt management offices are well staffed with top quality teams. They should then leave it up to these technical staff to prepare and arrange the financing.

    This would leave room for ministers to manage any disagreements between technical staff and the banks when necessary. And to close the final deal.

    Ministers versus the experts

    Eurobond issuance involves advanced financial engineering – pricing models, investor engagement, covenant structuring and legal compliance across jurisdictions. It takes a deep understanding of capital markets.

    When debt management offices are operating at their best, they are filled with people who have this knowledge. They have a combination of financial market and public policy skills, including debt portfolio management, risk analysis and debt transaction processing.

    In discussions with debt managers at the African Sovereign Debt Conference it’s become clear to me that debt managers are sidelined in the international bond issuance negotiations. They are also sidelined in the execution process, except for administrative support.

    What happens instead is that finance ministers are usually key contacts of the investment bankers. By approaching a minister directly, investment bankers get to close their mandates faster.

    But this minimises due diligence and bypasses internal safeguards. Ministers may not pay attention to complex legal clauses under foreign jurisdictions, details of investor negotiations and fee structures. They may accept unfavourable terms, ignore sustainability assessments and obscure fiscal vulnerabilities in pursuit of political wins and quick disbursements.

    For example, in 2018, Ghana’s then finance minister was internationally lauded for financial stewardship. Ghana was the first African issuer of a longest tenure and a zero-coupon bond. A year later, the country defaulted, suggesting the bond terms weren’t great for the country. The minister nevertheless received several awards as the best and most prudent in Africa.

    There is also the issue of conflicts of interest. When the same actor – in this case the finance minister – proposes, negotiates and approves a debt instrument, the system lacks accountability.

    In many African countries, parliaments, audit institutions and civil society have limited understanding about the technical details of bond agreements. Ministers can easily sideline procurement rules and transparency mechanisms, resulting in non-competitive contracts and opaque fees paid to underwriters and advisors.

    Investment bankers prefer this arrangement as it works in their favour.

    Reforms that are needed

    Before finance ministers can hand over control, debt management offices must be equipped. This requires targeted reforms, including:

    • Capacity building through strategic partnerships: African debt management offices should work with international issuing syndicates and development partners to gain first-hand exposure to structuring, pricing and marketing global bonds.

    • Human capital reforms: Governments must attract and retain highly skilled debt managers by offering competitive pay, professional development opportunities and protection from political interference.

    • Debt management offices must be staffed by dedicated quantitative analysts. They must also be equipped to use real-time market intelligence systems and formal investor relations programmes.

    • Gradual delegation: Authority can be shifted, starting with less complex debt instruments.

    The role of the finance minister must evolve. Ministers should provide strategic leadership: approving borrowing strategies, ensuring alignment with macroeconomic goals, and engaging parliament and the public.

    Their function should shift from operational to institutional oversight and accountability.

    Structural reforms must embed the capacity, autonomy and transparency required for debt management offices to lead effectively.

    In South Africa, for example, the assets and liabilities management division of the National Treasury department manages government’s annual funding programme.

    Professionalising the debt issuance process is not just about avoiding technical mistakes. It’s also about creating resilient institutions that can withstand political turnover. That fosters credibility and long-term access to capital.

    Ministers should remain accountable to the public, and debt management offices must do their work based on technical merit.

    Misheck Mutize is affiliated with the African Union – African Peer Review Mechanism as a Lead Expert on credit ratings

    – ref. African finance ministers shouldn’t be making bond deals: how to hand over the job to experts – https://theconversation.com/african-finance-ministers-shouldnt-be-making-bond-deals-how-to-hand-over-the-job-to-experts-259017

    MIL OSI – Global Reports –

    June 23, 2025
  • Sensex ends lower in volatile session

    Source: Government of India

    Source: Government of India (4)

    The stock markets started the week on a weak note as tensions escalated in the Middle East, after the United States bombed three nuclear facilities in Iran, showing clear support for Israel in the ongoing conflict.

    The development made investors cautious, leading to a fall in benchmark indices on Monday. The Sensex dropped 511.38 points, or 0.62 per cent, to close at 81,896.79. During the intra-day, it moved between a high of 82,169.67 and a low of 81,476.76.

    Similarly, the Nifty also ended in the red. It fell 140.50 points, or 0.56 per cent, to settle at 24,971.90. The index had touched an intra-high of 25,057 and a low of 24,824.85 during the session.

    Interestingly, broader markets performed better than the frontline indices. The Nifty Midcap100 closed with a gain of 0.36 per cent, while the Smallcap100 rose 0.70 per cent.

    Out of the 30 stocks in the Sensex, HCL Tech, Infosys, Larsen and Toubro, Mahindra and Mahindra, Hindustan Unilever, and ITC were the biggest losers, falling between 2.28 per cent and 1.21 per cent.

    On the other hand, Trent, Bharat Electronics, Bajaj Finance, Kotak Mahindra Bank, and Bajaj Finserv were the top gainers, rising between 3.39 per cent and 0.58 per cent.

    The performance of sectoral indices was mixed as Bank Nifty, Auto, FMCG, and Realty ended in the red while metal, consumer durables, pharma, and media sectors managed to close with gains.

    However, the biggest loser was the Nifty IT index, which declined by 1.48 per cent as stocks like Coforge and Persistent Systems pulled the sector down.

    “Last Friday, markets buildup in anticipation of easing Middle East tensions, following the US announcement of a two-week window to deliberate its involvement in the Israel-Iran conflict,” Vinod Nair of Geojit Investments Limited said.

    “However, the unexpected US airstrike on Iran’s nuclear facilities over the weekend disrupted those expectations, triggering a sharp rise in crude oil prices and leading to consolidation in the domestic equity market,” he added.

    The market’s fear gauge, India VIX, which indicates volatility, rose by 2.74 per cent to 14.05 points.

    The Nifty recovered significantly after a gap-down opening amid weak geopolitical sentiment. A pullback in crude oil prices helped the Indian market pare some of its morning losses, although it still ended on a negative note.

    Meanwhile, the rupee traded weak by 0.11 at 86.75 as the dollar index appreciated toward the 99 mark. “Technically, the rupee remains weak below 86, with the next support seen near 87,” said Jateen Trivedi of LKP Securities.

    (IANS)

    June 23, 2025
  • MIL-OSI Russia: “Digital platforms have become a key form of ensuring economic and cultural sovereignty”

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    © Mikhail Varushchev / Roscongress Foundation

    HSE Academic Director Yaroslav Kuzminov spoke at the SPIEF-2025 session “In Search of New Sources of Growth: Is a Different Model of Global Financial and Trade Architecture Possible?” The discussion was built around processes in the global economy related to the strengthening of multipolarity and the increasing role of new centers of global growth — states of the Global South and East. The participants discussed the potential and possibilities of a new model of international interaction.

    The global economy is often viewed as a dual system consisting of two large blocs, currently led by the United States and China. However, the world is much more complex, noted Yaroslav Kuzminov.

    “The collective West is trying to preserve itself as a single market system with single institutions, offering them to the rest of the world, but its foundation – free trade and unconditional protection of private property – is now being subjected to crushing blows from national and bloc protectionism. On the other hand, China, with all its economic and technological power, cannot act as the leader of the second world, it cannot gather around itself, as the United States did in its time or the Soviet Union did, other countries, because it is not free,” he said.

    The HSE academic director explained that American and Soviet leadership was based on two pillars: basic defense spending and economic preferences for allies. Now, countries are creating their own economies that are resilient to external influences. This implies the development of domestic production and the diversification of export markets. But this is not enough for sustainable economic growth, especially in the context of the global technological revolutions that are currently taking place.

    “The future is very uncertain, it is very difficult to make forecasts. If earlier the source of uncertainty was only future technologies, today it is geopolitical ruptures and geopolitical unions,” noted Yaroslav Kuzminov.

    In his opinion, the key argument for future technological power and future economic power is R

    “The problem of the center and the periphery arises, and this problem can only be solved by an extremely politically complex pooling of resources, pooling the efforts of different countries, which requires a degree of trust and a level of awareness of the common interest that, in my opinion, is simply impossible to achieve now. In these conditions, almost all technological innovations are developed within national frameworks, and this is where the problem of the “golden nail” arises. The “golden nail” is the problem of a deficit in the scale of the market. We can offer any breakthrough things, but if our market is limited to hundreds of millions of people and we compete with companies that have a market of billions of people, we will still have a “golden nail”. Therefore, it is necessary to single out those companies, those technological areas that correspond to the scale of the politically accessible market, and in other cases talk about localizing transnational companies in their sales markets, setting requirements for these companies to operate in national markets. I would call this the internal rooting of transnational companies ready to work with national jurisdictions,” says Yaroslav Kuzminov.

    At the same time, he noted that completely new solutions are not in the sphere of technology, the market is growing not only due to them. First of all, this is logistics: logistics chains have changed, two political zones of rupture have formed between the EU and Russia and in the Middle East. In these conditions, opportunities arise for countries such as Malaysia, Vietnam and India, which act as trade hubs.

    The most important elements of global changes are also related to the human capital of the golden billion countries, the HSE scientific director said. If in the countries of the collective West the share of the middle class is decreasing due to the share of families requiring state support, including migrants, then in the countries of Asia and the South it has grown to a third of the population, in Russia it is also about 35%.

    The middle class is people who can and want to choose, and who have the income and education to do so. The growth of the middle class leads to the formation of political and cultural innovations that act as economic drivers to the same extent as technological solutions. Middle class consumption acts as an economic driver along with heavy technological innovations.

    The second engine is the digital economy, which has received a new lease of life thanks to economically significant digital platforms. “Digital platforms have become a key form of ensuring economic and cultural sovereignty, and countries that underestimate their role will lose strategically,” Yaroslav Kuzminov summed up. The US, China, and Russia have their own platforms and digital ecosystems, he emphasized.

    The Global South is more diverse than the Soviet and Western systems of the past, it includes many regions with different levels of development and has not yet formed structurally, believes Andrey Kostin, President and Chairman of the Management Board of VTB Bank. Despite the fact that today the BRICS countries produce no less than the G7 countries, the entire financial infrastructure is controlled by Western countries and has ceased to be effective due to the fact that the balance of power has changed.

    “Due to the fact that the South is complex in itself, the internal relations are very difficult, we are still moving slowly. We need to create our own alternative center of the Global South and use settlements in national currencies. Sooner or later we will have to come to some denominator, we will have to create our own financial market infrastructure, because the current financial system meets exclusively the interests of the West. There are calculations that the BRICS countries lose about 30 billion a year on settlements through the dollar system. Perhaps the countries would survive this, but the political pressure that is exerted with the help of the dollar is, of course, unacceptable,” he said.

    Deputy Prime Minister of the Russian Federation Alexey Overchuk noted the importance of developing integration in the post-Soviet space. “We strive first and foremost to try to create conditions for reducing the costs of our producers of goods and services here, at home, inside. We started with measures to protect our own market and create a single customs circuit in order to control the market inside, develop relevant technical regulations, standards and reduce barriers as much as possible. And we have largely achieved this: trade within the CIS is developing much faster than trade with countries of the outside world,” he emphasized.

    At the same time, work is actively underway to develop international transport corridors to the markets of the Global South and to conclude agreements on free trade zones in order to provide the most comfortable environment for the promotion of Russian goods.

    The founder of En Group, Chairman of the Supervisory Board of the P.A. Stolypin Institute for Growth Economics Oleg Deripaska believes that the task of doubling the Russian economy over the next 12 years is quite realistic. To do this, it is necessary, among other things, to create competitive production in aviation and transport power engineering. He called on businesses not to wait for the end of geopolitical tensions, but to actively develop now, in the current conditions.

    Russian Finance Minister Anton Siluanov noted that BRICS financiers are currently working in three main areas: the creation of cross-border payment, inter-depository, insurance and reinsurance infrastructure.

    The issue of the need to create a BRICS depository infrastructure was raised by Russia during its presidency of the association. However, this issue is not easily resolved. “We see that many countries are wary of investments, of settlements with our country, but I want to say that the question of how profitable it is, how profitable it is, is always at issue here. The desire to earn money solves any problem,” he explained.

    Anton Siluanov also spoke in favor of joint recognition of rating agencies within the BRICS framework. The head of the Ministry of Finance noted that partners from China are already very actively applying their rating assessments to business, including in Russia.

    In addition, the session was attended by the Minister of Foreign Trade of Qatar Ahmad bin Mohammed Al Sayed, Chairman of the Board of Directors of the African Export-Import Bank Benedict Okey Oramah and President of the Black Sea Trade and Development Bank Serhat Koksal.

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

    MIL OSI Russia News –

    June 23, 2025
  • MIL-OSI Asia-Pac: Speech by CE at Greenway 2025 – Accelerating Changes (English only) (with photos/video)

    Source: Hong Kong Government special administrative region

         â€‹Following is the speech by the Chief Executive, Mr John Lee, at Greenway 2025 – Accelerating Changes today (June 23):
     
    Your Excellency Ambassador Harvey Rouse (Ambassador and Head of Office of the European Union to Hong Kong), Mr Iñaki Amate (Chair of the European Chamber of Commerce in Hong Kong), consuls-general, heads of chambers, ladies and gentlemen,
     
         Good afternoon. It is a great pleasure to join you, once again, at the Greenway forum, the fourth edition, this year under the theme of “Accelerating Changes”. And, as before, it’s organised by the European Union Office to Hong Kong and Macao, and the European Chamber of Commerce in Hong Kong.
     
         The European Union (EU) has long been one of Hong Kong’s long-standing business partners. Hong Kong takes pride in being home to 1 640 EU (European Union) companies, which makes the EU the largest foreign business community in Hong Kong. Thank you and welcome indeed.
     
         Alongside business, we come together in so many others areas of mutual interest, from education and cultural exchange to innovation and technology pursuits. And, yes, to the environment – to global warming and all the complexities it entails.
     
         Because climate change affects us all, it must involve us all. Each and every one of us.
     
         The World Meteorological Organization’s latest report, published last month, notes that there is a 70 per cent chance that the five-year average warming, for 2025 to 2029, will exceed 1.5 degrees Celsius. That’s up significantly from the 47 per cent chance forecast in its report last year. So from a 47 per cent chance the forecast jumped to 70 per cent.
     
         Allow me, for the next few minutes, to tell you what Hong Kong is doing to work against the universal threat of climate change, and to achieve climate neutrality.
     
         Since Hong Kong reached its carbon peak, in 2014, our carbon emissions have dropped by about a quarter. In 2023, our per capita carbon emissions were about 4.58 tonnes. To put that in perspective, it is 60 per cent of the EU’s emissions, so we aren’t doing too badly, and only one quarter of that of the United States.
     
         Hong Kong is well on its way to cutting its carbon emissions in half by 2035, achieving carbon neutrality before 2050, which is our stated goal.
     
         Last week, we welcomed the news that Hong Kong is once again one of the world’s top three most-competitive economies. We are dedicated to decarbonising this international financial, shipping and trade centre while keeping up with our competitiveness. And we do that by engineering green transformation through innovation.
     
         Hong Kong’s prowess in financial services places us, favourably, in becoming Asia’s premier hub for green and sustainable finance. With our financing platforms, we could help to mobilise the capital for climate solutions, while ensuring robust integrity within our financial markets.
     
         Last year, the total green and sustainable debts issued in Hong Kong exceeded US$84 billion. And the volume of green and sustainable bonds arranged here amounted to US$43 billion. That places us first in the Asian market for seven years in a row, capturing 45 per cent of the region’s total.
     
         Our regulatory framework is fundamental to creating a sustainable finance ecosystem. The Hong Kong Monetary Authority published the Hong Kong Taxonomy for Sustainable Finance last year, aligning our taxonomy with the two mainstream taxonomies of the Mainland and the European Union. Encompassing economic activities in power generation, transportation, construction, and water and waste management, it will facilitate green finance flows and promote sustainable development.
     
         Like our economy, Hong Kong’s resolve to green transformation goes beyond finance. Consider green transport, a transformation moving into the fast lane on our roads. The adoption of electric vehicles has been remarkable.
     
         Just five years ago, Hong Kong was home to about 14 000 electric vehicles. By the end of last year, that number had surged to about 110 000, that’s seven times more.
     
         Today, seven out of every 10 newly registered private cars in our city are electric. That, ladies and gentlemen, is among the highest growth rates in the world.
     
         Vehicles, of course, are only one part of a complex equation. An extensive and convenient charging network is the backbone of any electric vehicle revolution.
     
         Our strategy is people-centric, recognising that the best place to charge is at home or at the workplace. Through our EV-charging at Home Subsidy Scheme, we expect to see charging infrastructure installed in about 140 000 parking spaces in private residential buildings by the 2027-28 financial year. That will enable a smooth and non-disruptive electric vehicle transition for thousands of households.
     
         As for our world-class public transport system, we have unveiled a clear Green Transformation Roadmap for public buses and taxis.
     
         Through targeted subsidy schemes, that will fast-track the introduction of about 600 electric buses and 3 000 electric taxis. We are managing the transition in an orderly manner, using incentives rather than penalties, to ensure that our green ambitions don’t translate into additional costs for passengers.
     
         Our vision for green mobility goes well beyond the road. As one of the world’s premier aviation hubs, we’re looking to the skies, too, to chart the green way to our transport future.
     
         Sustainable Aviation Fuel, or SAF, is critical to the long-term future of air travel. It’s also essential to ensuring Hong Kong’s continuing leadership in aviation.
     
         SAF has the potential to reduce life-cycle carbon emissions by more than 80 per cent compared to conventional jet fuel. The Hong Kong SAR (Special Administrative Region) Government is working closely with the Airport Authority to set a clear target for SAF consumption.
     
         Globally, SAF supply is limited, and the cost remains high. And we see this as an opportunity for Hong Kong to innovate and lead.
     
         We are exploring a range of supply options, including collaborations with enterprises in the Mainland and internationally. Our goal is to establish a stable and competitive regional supply chain for SAF, taking advantage of our unique position within the Guangdong-Hong Kong-Macao Greater Bay Area. It will accelerate the decarbonisation of our aviation industry and provide greener travel options.
     
         Our green ambitions also extend to the iconic Victoria Harbour, a vital artery for our city. Our Pilot Scheme for Electric Ferries will shape the future of maritime transport.
     
         With a commitment of HK$350 million, the Government is subsidising the construction of new electric ferries and their charging infrastructure, allowing operators to test the new green technology in local waters with full support.
     
         The first two of these pioneering vessels are already navigating Victoria Harbour, following rigorous testing.
     
         Beyond the local waters, we are greening the vast shipping lanes that connect Hong Kong to the world. Hong Kong is already a top 10 port for vessel refuelling.
     
         To build on this, we launched an Action Plan on Green Maritime Fuel Bunkering late last year, with the goal of transforming Hong Kong into a leading international centre for green maritime fuel bunkering.
     
         Industry response has been overwhelmingly positive, with key partners worldwide expressing strong interest in developing the services here. Hong Kong will spearhead the global effort in decarbonising shipping and, in doing so, create new economic opportunities. Something my good friend has already said: “Green actually means business.”
     
         When it comes to environmental connectivity, I’m pleased to note that EU companies play an important role in Hong Kong’s waste management and recycling facilities.
     
         And I look forward to the expertise and support of EU companies in the Northern Metropolis, our new engine for growth dedicated to green living, and the area’s long-term green development.
     
         Ladies and gentlemen, Hong Kong has an iconic skyline. It also holds a treasure of having some 40 per cent of its land pulsing as the city’s green lungs, with country parks breathing life into our metropolis, conservation areas cradling biodiversity little seen in other global financial hubs.
     
         This is Hong Kong’s defining paradox: where business and ecology coexist in symphony. For us, economic dynamism and environmental stewardship aren’t just compatible – they’re dual engines propelling our future. We balance development with sustainability. And we will do all we can to work with other places, the EU very much included, on the green way forward.
     
         I look forward to building strong ties with the EU, to finding solutions to climate change, to creating far-reaching opportunities for us all.
     
         My thanks to the organisers, the European Union Office to Hong Kong and Macao and the European Chamber of Commerce in Hong Kong. I’m grateful, too, to today’s supporting organisations – the Business Environment Council, the Consulate General of Sweden and the Hong Kong General Chamber of Commerce.
     
         I am certain you will enjoy today’s Greenway forum, and I look forward to our continuing, rewarding, co-operation in the years to come. Thank you.

    MIL OSI Asia Pacific News –

    June 23, 2025
  • MIL-OSI: Vanilla Finance Rebrands to Superp, A Meme-Fueled Perp DEX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) —  Vanilla Finance is entering a new chapter with a new name: Superp. The rebrand comes with a tighter focus. Instead of covering broad derivatives, the project is zeroing in on a high-energy niche that’s picking up steam: perpetuals for meme coins and other on-chain assets that live at the fringes of the mainstream.

    The revamped protocol keeps its edge: high-leverage positions on meme coins, up to 10,000x exposure, and a design that eliminates the risk of liquidation. It’s built for traders who aren’t afraid to bet big on cultural trends and fast-moving markets.

    Why the Name Change?

    The shift from “Vanilla Finance” to “Superp” reflects more than just a name change. The original brand aimed to signal simplicity and accessibility. But the direction has changed. This isn’t about being plain or safe anymore, it’s about building tools for a new kind of trader who thrives in the chaos of crypto culture.

    The new name is punchy, distinct, and fits the tone of the ecosystem it wants to serve. More than that, it gives the project space to grow across different chains, communities, and trading styles, without being tied to a brand that no longer fits its mission.

    A Trio of Products Powering a Unique Trading Stack

    Superp now offers a trio of specialized products, each tailored for a different type of on-chain trader:

    • Meme Perp – Built for newly launched tokens, this lets users long or short meme coins as soon as they hit the market. It uses a Total Return Swap (TRS) model to simulate early exposure without the usual constraints.
    • Alpha Perp – Targets tokens featured in Binance’s Alpha program. Traders can ride the momentum of trending narratives with leveraged exposure.
    • NoLiquid Perp – Designed for blue-chip meme coins, this one replaces the typical liquidation model with a Profit Swap Contract. It gives traders up to 10,000x leverage without the fear of getting wiped out from liquidation.

    Together, these offerings form a trading system tailored to on-chain culture—where memes drive markets and users want access to assets that don’t yet appear on the big-name exchanges.

    Carving Out a Niche in a $365B Market

    The crypto derivatives market is holding steady at around $365 billion in monthly trading volume. Most of that still comes from major tokens, but interest in more exotic assets is growing. Meme coins, in particular, are seeing more structured financial products emerge.

    Superp aims to capture this momentum with a lineup that supports risk-tolerant strategies and overlooked tokens. On-chain data shows BNB Chain recently broke past $9 billion in weekly DEX volume, almost double its 2023 peak. That kind of growth signals renewed interest across DeFi.

    Already deployed on the BNB Chain, Superp is eyeing broader expansion. The Asia-Pacific region is a natural focus given Binance’s reach there. By listing lower-cap and emerging assets, Superp is making room for a new generation of traders underserved by traditional perps platforms.

    What’s Next?

    Perp trading is evolving, and Superp plans to stay ahead of the curve. With the rebrand in place and BNB Chain as a launchpad, the team is now prepping a multichain rollout, with Solana as the next stop. It’s a sign of how perp protocols are shifting to match the demands of a multichain DeFi landscape.

    About Superp

    Superp is the next-generation perpetual DEX tailored for on-chain traders. Formerly known as Vanilla Finance, the platform offers up to 10,000x leverage, zero liquidation risk, and immediate access to any meme token. Built for the bold, Superp is reimagining what is possible in perpetual trading and DeFi.

    Website:https://www.superp.xyz/
    Twitter: @Superp_xyz
    Media Contact: Cameron Michael
    Email: media@superp.xyz

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/482b7949-0d05-42a2-924f-8129aaaf9373

    The MIL Network –

    June 23, 2025
  • MIL-OSI: BYDFi MoonX Launches Global KOL Recruitment to Accelerate the On-Chain Trading Ecosystems

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 23, 2025 (GLOBE NEWSWIRE) — MoonX, the on-chain MemeCoin trading tool developed by leading crypto exchange BYDFi, today officially launched its Global KOL Recruitment Program. This initiative invites content creators, community leaders, and MemeCoin-savvy influencers to join MoonX as partners in shaping the next phase of Web3 trading.

    Ambassador Program: Growth & Rewards

    MoonX’s Global KOL Recruitment Program offers meme-savvy influencers the opportunity to collaborate with one of Web3’s fastest-growing trading tools. Participants gain access to exclusive creator incentives, including monthly content rewards, support for hosting online events with token prizes, and opportunities to represent MoonX at global industry conferences. Top performers may be invited to join long-term ambassador roles with revenue-sharing or token-based incentives. MoonX also regularly recognizes outstanding creators with additional rewards based on creativity and community impact.

    This program is designed for creators who want to expand their presence in Web3, build professional ties with an emerging DEX-native product, and help shape the next phase of decentralized MemeCoin trading.

    For more details about the program: https://www.bydfi.com/en/activities/detail?id=1142427593824681985

    How Creators Support MoonX’s Mission

    MoonX isn’t just looking for promoters—it’s inviting partners. The campaign welcomes creators who are excited to educate, engage, and empower the MemeCoin trading community. Whether it’s publishing explainers, hosting AMAs, sharing analysis, or spotlighting hidden gems, selected KOLs are expected to help new users discover and navigate MoonX’s advanced trading tools. The goal is to drive community-led growth that brings visibility and credibility to the dynamic landscape of MemeCoin trading.

    MoonX Feature Updates

    To better serve its active trading community, MoonX has recently introduced two advanced features:

    • Bubble Map: A dynamic visual interface that maps trending MemeCoins using real-time data on volume and price action. Tokens appear as bubbles sized and colored by momentum indicators, helping traders quickly identify capital flows and spot breakout assets.
    • Telegram Signal Bot: A multilingual alert system that pushes timely updates on-chain signals, major wallet movements, and new token activity. Users can choose between high-frequency and low-frequency modes to match their trading pace and information needs.

    These new tools provide traders with a quicker and more precise read on the MemeCoin market, enabling them to act with confidence as opportunities emerge. MoonX will continue to add features to help users stay ahead in the fast-paced on-chain arena.

    How MoonX Powers BYDFi’s On-Chain Vision

    MoonX is a critical part of BYDFi’s CEX + DEX dual-engine model. While BYDFi delivers speed and stability through centralized infrastructure, MoonX enhances user access to decentralized trading by offering improved visibility, live trading intelligence, and early discovery of market trends. By analyzing on-chain activity and surfacing token movements directly from DEX liquidity pools, MoonX equips traders with the tools to move faster and respond with clarity and precision.

    As crypto trading matures, the fusion of CEX performance and DEX transparency is no longer optional—it’s essential. We believe the real innovation lies in combining the speed and liquidity of centralized platforms with the transparency and security of on-chain systems, said Michael, Co-founder & CEO of BYDFi. MoonX is built on that principle, helping traders navigate the decentralized market with sharper tools and faster execution.

    With the launch of its KOL recruitment and feature expansion, MoonX is reinforcing its mission: to be the go-to trading tool for MemeCoin hunters, while powering a broader movement toward smarter, community-driven crypto trading.

    About BYDFi

    Founded in 2020, BYDFi now serves a community of 1,000,000+ users across more than 190 countries and regions. Recognized by Forbes as one of the Best Crypto Exchanges & Apps for Beginners of 2025, BYDFi offers a full range of trading services—from spot and perpetual contracts to copy trading, automated bots, and on-chain tools—empowering both new and seasoned traders to explore the digital asset space with confidence.

    BYDFi is committed to providing a world-class crypto trading experience for every user.

    BUIDL Your Dream Finance.

    • Website: https://www.bydfi.com
    • Support email: cs@bydfi.com
    • Business partnerships: bd@bydfi.com
    • Media inquiries: media@bydfi.com

    Twitter( X ) | LinkedIn | Telegram | YouTube | How to Buy on BYDFi

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28be3023-908e-45ca-8a07-3f630d49d803

    The MIL Network –

    June 23, 2025
  • MIL-OSI Africa: African finance ministers shouldn’t be making bond deals: how to hand over the job to experts

    Source: The Conversation – Africa – By Misheck Mutize, Post Doctoral Researcher, Graduate School of Business (GSB), University of Cape Town

    Eurobonds, debts owed in a foreign currency, have become a quick and attractive way for African countries to borrow money. They are behind a sharp rise in commercial borrowing as a percentage of total external debt: it has nearly doubled from 27% in 2011 to 52% in 2020. This has increased the debt vulnerability of most African countries.

    Recent developments, however, show that most of the bonds have not been structured properly. As a result, African countries are paying way over the odds relative to their sovereign risks.

    Based on my bond price modelling expertise, it is my view that there are two major drivers of the mispricing of African government bonds. They are interlinked.

    Firstly, a lack of expertise in debt management offices, whose job it is to negotiate the terms of any debt deals and to oversee their execution. This is a topic I explored in a recent article.


    Read more: African countries are bad at issuing bonds, so debt costs more than it should: what needs to change


    The second factor, which I address here, is that in many African countries, finance ministers have assumed primary responsibility for Eurobond issuance. They engage directly with investment bankers, legal advisors and credit rating agencies.

    In my view they shouldn’t.

    Finance ministers should stay away from debt negotiations because they are political appointees. They operate under incentives tied to electoral cycles, not fiscal sustainability. Their short tenures and desire to fund visible projects often conflict with the long-term nature of sovereign debt obligations.

    They don’t have the necessary expertise to handle the technical complexity required to get the best possible deal, either.

    Simply calling for ministers to step aside would ignore the institutional realities in most African countries. In particular, debt management offices have severe capacity constraints.

    Nevertheless, as global financial conditions tighten and African countries seek to refinance maturing Eurobonds or issue new instruments, the risks of politicised borrowing must be minimised. Ministers should spend their energies on ensuring their debt management offices are well staffed with top quality teams. They should then leave it up to these technical staff to prepare and arrange the financing.

    This would leave room for ministers to manage any disagreements between technical staff and the banks when necessary. And to close the final deal.

    Ministers versus the experts

    Eurobond issuance involves advanced financial engineering – pricing models, investor engagement, covenant structuring and legal compliance across jurisdictions. It takes a deep understanding of capital markets.

    When debt management offices are operating at their best, they are filled with people who have this knowledge. They have a combination of financial market and public policy skills, including debt portfolio management, risk analysis and debt transaction processing.

    In discussions with debt managers at the African Sovereign Debt Conference it’s become clear to me that debt managers are sidelined in the international bond issuance negotiations. They are also sidelined in the execution process, except for administrative support.

    What happens instead is that finance ministers are usually key contacts of the investment bankers. By approaching a minister directly, investment bankers get to close their mandates faster.

    But this minimises due diligence and bypasses internal safeguards. Ministers may not pay attention to complex legal clauses under foreign jurisdictions, details of investor negotiations and fee structures. They may accept unfavourable terms, ignore sustainability assessments and obscure fiscal vulnerabilities in pursuit of political wins and quick disbursements.

    For example, in 2018, Ghana’s then finance minister was internationally lauded for financial stewardship. Ghana was the first African issuer of a longest tenure and a zero-coupon bond. A year later, the country defaulted, suggesting the bond terms weren’t great for the country. The minister nevertheless received several awards as the best and most prudent in Africa.

    There is also the issue of conflicts of interest. When the same actor – in this case the finance minister – proposes, negotiates and approves a debt instrument, the system lacks accountability.

    In many African countries, parliaments, audit institutions and civil society have limited understanding about the technical details of bond agreements. Ministers can easily sideline procurement rules and transparency mechanisms, resulting in non-competitive contracts and opaque fees paid to underwriters and advisors.

    Investment bankers prefer this arrangement as it works in their favour.

    Reforms that are needed

    Before finance ministers can hand over control, debt management offices must be equipped. This requires targeted reforms, including:

    • Capacity building through strategic partnerships: African debt management offices should work with international issuing syndicates and development partners to gain first-hand exposure to structuring, pricing and marketing global bonds.

    • Human capital reforms: Governments must attract and retain highly skilled debt managers by offering competitive pay, professional development opportunities and protection from political interference.

    • Debt management offices must be staffed by dedicated quantitative analysts. They must also be equipped to use real-time market intelligence systems and formal investor relations programmes.

    • Gradual delegation: Authority can be shifted, starting with less complex debt instruments.

    The role of the finance minister must evolve. Ministers should provide strategic leadership: approving borrowing strategies, ensuring alignment with macroeconomic goals, and engaging parliament and the public.

    Their function should shift from operational to institutional oversight and accountability.

    Structural reforms must embed the capacity, autonomy and transparency required for debt management offices to lead effectively.

    In South Africa, for example, the assets and liabilities management division of the National Treasury department manages government’s annual funding programme.

    Professionalising the debt issuance process is not just about avoiding technical mistakes. It’s also about creating resilient institutions that can withstand political turnover. That fosters credibility and long-term access to capital.

    Ministers should remain accountable to the public, and debt management offices must do their work based on technical merit.

    – African finance ministers shouldn’t be making bond deals: how to hand over the job to experts
    – https://theconversation.com/african-finance-ministers-shouldnt-be-making-bond-deals-how-to-hand-over-the-job-to-experts-259017

    MIL OSI Africa –

    June 23, 2025
  • MIL-OSI United Kingdom: £380 million boost for creative industries to help drive innovation, regional growth and investment

    Source: United Kingdom – Executive Government & Departments

    Press release

    £380 million boost for creative industries to help drive innovation, regional growth and investment

    Thousands of creative professionals and businesses across the UK are set to benefit from a new £380 million investment package as part of the Creative Industries Sector Plan.

    • £380 million in targeted funding to support innovation, access to finance, R&D, skills and regional growth across the UK as part of Creative Industries Sector Plan

    • Sector Plan set to nearly double business investment in creative industries to £31 billion by 2035 with 2,000 new film and TV apprenticeships to be delivered

    • Comes as part of Industrial Strategy which sets out government’s ten-year plan to make the UK the best place to do business and unlock growth as part of the Plan for Change

    • New Creative Content Exchange will be a marketplace to sell, buy, license and enable permitted access to digitised cultural and creative assets

    From grassroots music venues to world-class film studios, thousands of creative professionals and businesses across the UK are set to benefit from a new £380 million investment package.

    The investment underpins the Creative Industries Sector Plan, which sets out a clear direction on how the Government aims to build a sector that drives regional growth, is financially resilient and is globally competitive.

    Published alongside the Government’s Industrial Strategy today (23 June), the plan outlines a bold vision to nearly double business investment in the sector by 2035 – from £17 billion to £31 billion – cementing the UK’s position as a global creative superpower.

    The £380 million package is part of the wider plan to deliver targeted investment to create thousands of new jobs and opportunities in sub-sectors like film and TV, music, performing and visual arts, video games and advertising, while generating economic growth in six regions outside London over the next three years.

    The wider plan also includes a significant increase in support available from the British Business Bank (BBB), as part of its £4 billion Industrial Strategy Growth Capital, which will help creative businesses grow and create jobs.

    The Sector Plan aims to make the UK the best place globally to invest in creativity and drive innovation and tech adoption by 2035, with targeted support for:

    • A £150 million Creative Places Growth Fund for six regions outside London, empowering local Mayors to support creative businesses in their communities with access to finance, mentoring and networking opportunities to help them connect with investors and skills programmes. 
    • At least £50 million for a new wave of Creative Industries Clusters across the UK to accelerate research and development, doubling investment from UK Research and Innovation (UKRI) in clusters to £100 million. Clusters bring together universities, businesses, local and regional policymakers, and private funders to drive research, innovation and growth in the creative industries.
    • £25 million for five new innovative UKRI CoSTAR R&D labs and two showcase spaces, which will develop cutting-edge technologies like those used in Abba Voyage and award-winning theatre productions such as last year’s Olivier Award-winning stage adaptation of The Picture of Dorian Gray.

    Building on the Government’s commitment to ensure a robust copyright regime and support UK IP, the plan includes the establishment of a Creative Content Exchange. It will act as a trusted marketplace for selling, buying, licensing and enabling permitted access to digitised cultural and creative assets, opening up new revenue streams for content owners.

    The industry plan responds directly to what the sector has said it needs – better access to finance, stronger skills pipelines, and support for innovation – and lays out a roadmap to deliver it.

    This includes upskilling the next generation of creative talent through a £10 million investment in the National Film and Television School (NFTS) which will help to train 2,000 new trainees and apprentices over the next decade – backed by industry giants such as the Walt Disney Company, the Dana and Albert R. Broccoli Foundation, and Sky.

    The investment will also go towards a new £9 million creative careers service, which will help raise awareness of opportunities and provide pathways into the sector for young people. 

    The UK’s leading creative industries, recognised across the world, are a major driver of economic growth as part of the Plan for Change – driving in £124 billion a year to our economy and employing 2.4 million people across the UK. Over the last decade the sector has increased its output more than one and a half times faster than the rest of the economy.                  

    Culture Secretary Lisa Nandy said:

    Our creative industries are powerful economic drivers in this country. By placing them at the heart of our Industrial Strategy this Sector Plan, backed by £380 million of investment, will boost regional growth, stimulate private investment, and create thousands more high-quality jobs.

    This Sector Plan will help nearly double business investment to £31 billion by 2035, supporting our mission to raise living standards everywhere as part of our Plan for Change, ensuring the UK remains the world’s creative powerhouse.

     Business and Trade Secretary Jonathan Reynolds said:

    The UK’s creative industries are world-leading and have a huge cultural impact globally, which is why we’re championing them at home and abroad as a key growth sector in our Modern Industrial Strategy.

    We’ve seen the power of investment, with this Government welcoming around £100 billion into the UK since taking office, and our Strategy will not only ensure that the UK is the best country to invest and do business in, but deliver economic growth that puts more money in people’s pockets.

    Sir Peter Bazalgette, Co-Chair, Creative Industries Council, said: 

    This ambitious plan for growth represents a coming of age for the creative sector. Crucially the plans for R&D funding and Access to Finance for SMEs are exciting step changes.

    Baroness Shriti Vadera, co-chair of the Creative Industries Council, said: 

    This strategy recognises that the UK Creative Industries are one of the most innovative sectors in the UK economy and have a strong comparative advantage internationally. The work now begins to cement their role as a driver of growth and a global creative super power.

    The investment also includes tailored packages for high-growth sub-sectors through:

    • A £75 million Screen Growth Package supporting UK content development and international investment, and showcasing the best of UK and international film. This includes an enlarged UK Global Screen Fund and scaled-up BFI Film Academy to support 16–25 year olds from underrepresented backgrounds to enter the film industry.
    • A Music Growth Package worth up to £30 million, helping emerging artists break through at home and abroad. Measures will create new touring, performance, mentoring and export opportunities for emerging talent, while also delivering a significant uplift in funding for the grassroots sector to support small venues and help them to platform more high-potential artists.
    • A £30 million Video Games Growth Package, backing the next generation of start-up games studios and developers. This will drive inward investment in the sector through expansion of the UK Games Fund (UKGF) as well as new support for the London Games Festival.

    The Sector Plan also includes support for emerging fashion designers through the British Fashion Council’s NEWGEN programme, to help them showcase their work at London Fashion Week and secure business mentoring.

    The Creative Industries Sector Plan maps out in detail how the Government will support the sector to grow even further over the next decade through a focus on boosting regional growth, innovation, access to finance, skills and exports.

    It will also see the Department for Business and Trade ramp up the number of creative trade missions and markets it targets, such as in the Asia-Pacific. Funding will be increased for major creative trade shows such as SXSW and Cannes Lions.

    The Sector Plan was developed in partnership with the Creative Industries Taskforce, Creative Industries Council, businesses, devolved governments, and regional stakeholders. It builds on the recent £270 million Arts Everywhere Fund supporting cultural venues across the nation.

    ENDS

    Notes to editors:

    • The full Creative Industries Sector Plan can be found here.
    • The British Business Bank (BBB) is a state-owned economic development bank established by the UK Government. Its aim is to increase the supply of credit to small and medium-sized businesses and provide business advice services.
    • The BBB has significantly increased its support for the creative industries as part of its £4 billion Industrial Strategy Growth Capital, including through support with debt and equity finance. 
    • The new £150 million Creative Places Growth Fund will be devolved to six Mayoral Strategic Authorities: West Midlands, West of England, West Yorkshire, the North East, Liverpool City Region and Greater Manchester. 
    • CoSTAR labs and the Creative Industries Clusters are delivered by the UKRI Arts and Humanities Research Council.
    • The new Music Growth Package worth up to £30 million follows the Government advocating for an industry-led levy on stadium and arena tickets to support grassroots music. 
    • The establishment of a Creative Content Exchange will act as a trusted marketplace for selling, buying, licensing and enabling permitted access to digitised cultural and creative assets. This new marketplace will open up new revenue streams and allow content owners to commercialise and financialise their assets while providing data users with ease of access.
    • The Sector Plan follows the Government’s recent announcement of more than £270 million that will be invested in arts venues, museums, libraries and heritage buildings as part of the Arts Everywhere Fund, to help organisations in need of support to stay up and running, carry out vital infrastructure work and improve their financial resilience.

    Further quotes

    Caroline Norbury, Chief Executive, Creative UK, said:

    The Sector Plan signals that the creative industries are central to the UK’s growth story. From freelancers to scale-ups, this is a step towards the joined-up support our sector needs – and Creative UK stands ready to work with government and industry partners to turn ambition into action. 

    As we move into delivery mode, it’s essential that all parts of the sector – from cultural organisations to creative tech firms – are empowered to grow, invest and contribute fully to the UK’s economic future.

    Ben Roberts, Chief Executive, BFI, said:

    We welcome the Government’s decision to put the creative industries at the centre of its growth strategy. The UK’s screen sector is already a global leader, generating billions for the economy and pioneering new ideas. 

    With a firm focus on developing the sector across the UK, this investment can unlock fresh opportunities – from growing the sector’s talent pool and strengthening creative clusters nationwide, to opening new international markets for UK screen businesses and advancing creative technology innovation, including the CoSTAR work which the BFI is proud to be a partner on.

    UK Music Chief Executive Tom Kiehl said:

    UK Music welcomes the Government’s creative industries sector plan and the important status that it gives to music. The plan rightly recognises our world-beating £7.6 billion music sector as an essential high growth driving part of the creative industries.

    It is hugely welcome that funding packages and programmes are being made available to turbocharge the music industry and we are incredibly excited at the opportunity to be working with the Government to deliver on this.

    Barbara Broccoli, EON Productions, said:

    I’m thrilled the Government is joining forces with the National Film and Television School as part of its Industrial Strategy. The NFTS is a world-class institution that has trained some of the most talented members of our industry and I’m especially pleased this investment will focus on much needed support for persons with disabilities.

    Cecile Frot-Coutaz, CEO, Sky Studios and Chief Content Officer, Sky, said:

    Sky is proud to support the National Film and Television School’s expansion plans and growth ambitions, as part of the Government’s Industrial Strategy. As one of the world’s leading institutions for film, television and games, the NFTS plays a vital role in developing the UK’s creative talent. Our investment underscores our commitment to skills development and sector growth, and we’re excited to see future generations benefit from the school’s outstanding work.

    Jon Wardle, Director, National Film and Television School, said:

    The real world impact of the Sector Plan in action will be felt through the NFTS’s expanded ability to train world-class, diverse talent and fuel growth in a sector where the UK is a global leader. In a challenging climate for the creative industries, the support from the government isn’t just welcome, it’s strategic.  This investment in the NFTS reinforces a commitment to skills, innovation, and the long-term future of the creative economy.

    Wayne Garvie, President International Production, Sony Pictures Television, said:

    The NFTS is an unparalleled training ground for British creativity and it’s wonderful that the Government both recognises the importance of the film and television sector in its Industrial Strategy and the role the NFTS plays in developing the next generation of great British creative talent.

    Darren Henley, Chief Executive, Arts Council England, said:

    Ambition, excellence and innovation are the golden threads that run through the work of our artists, musicians, dancers, actors, writers, directors and producers. It’s what we’re famous for here at home and on the international stage. This new plan highlights the breadth and brilliance of our nation’s creative professionals and cultural organisations. It provides a roadmap for supercharging the growth of our sector and for nurturing the next generation of British talent, creating jobs across the country and delighting audiences here and around the globe.

    Andrew Georgiou, President & Managing Director for Warner Bros. Discovery UK & Ireland and Warner Bros. Discovery Sports Europe, said:

    We welcome this announcement confirming the government’s commitment to invest £375 million to turbocharge the UK’s creative industries. Their mission to drive growth across the country, unlocking new jobs and enabling talent to thrive in every nation and region, strongly resonates with Warner Bros. Discovery. 

    We have a proud UK heritage – present for over 90 years, with a significant employee base which extends North to South across 5 cities. The UK is our biggest base outside of the US and, in our view, one of the best places in the world to do business. We remain committed to the UK and our ambition to grow and strengthen our sector and welcome the government’s announcement to do this. We look forward to a continued and productive relationship between Government and the industry.” 

    Alison Lomax, Managing Director for YouTube UK & Ireland, said: 

    We welcome the Creative Industries Sector Plan’s commitment to a robust framework for creatives across the UK. It’s particularly encouraging to see the government acknowledge the digital creator economy’s vital role in driving growth for our creative industries. By embracing new distribution models that boost our cultural exports, this vision will solidify the UK’s position as a global cultural superpower.

    Nick Poole OBE, Chief Executive, Ukie, said:

    On behalf of the UK’s world-leading video game and interactive entertainment sector, we welcome the measures set out today by the Government to supercharge our Creative Industries as part of the Industrial Strategy. Today’s announcement is both a validation of the huge cultural and economic impact of video games and an opportunity to show the world we are open for business.” 

    Stephen Woodford, CEO, Advertising Association, said:

    Our industry welcomes the recognition of advertising as a priority sector for growth in the Creative Industries Sector Plan – we are a world leader in creativity as proven by our successful performance once again at Cannes Lions this year. 

    This strategy is a platform for growth for the next decade across our regions and nations. We welcome the incentives to attract new talent to join our industry, and we commit to working together to strengthen work that helps businesses innovate, compete in the UK and internationally, and create jobs.

    Professor Christopher Smith, UKRI Creative Industries Champion, and Executive Chair of the UKRI Arts and Humanities Research Council, said:

    The creative industries are a powerful engine for growth in the UK economy but they are also vital for scientific advance. This Spending Review commits UKRI to a coherent and concerted strategic investment, from the UK’s national capability for the creative industries, CoSTAR, to the Creative Industries Clusters Programme and beyond.

    The deep synergies between creative content and the most cutting-edge science in universities and R&D intensive businesses across the UK place creative industries at the heart of UKRI’s commitment to excellent science for a growing economy.

    Professor Hasan Bakhshi MBE, Director of the Creative Industries Policy and Evidence Centre and Professor of Economics of the Creative Industries at Newcastle University, said:

    Today’s new Sector Plan for the creative industries sets out the Government’s priorities for the next 10 years, and the Creative PEC – thanks to our funder, the AHRC – stands ready to provide policymakers and industry with the data and evidence they need to enact it. 

    The commitment to increase public investment in creative industries R&D is especially important, alongside the prioritisation of the sector by the British Business Bank. Also welcome is HMRC’s clarification that arts activities that directly contribute to scientific advance by resolving scientific or technological uncertainties fall within the definition of R&D for R&D tax reliefs. Together these measures should have a catalytic effect in driving more private finance into the sector.

    Mel Sullivan, Chief Executive, Framestore, said:

    The UK is home to highly skilled and exceptionally creative artists, technologists, and thinkers who push the boundaries of what’s possible. The Creative Industries Sector Plan is a powerful show of support to those working in visual effects, film, TV, advertising, and immersive experiences. It will release unlocked potential and open doors to a new wave of talent across the country, giving them the confidence to build their skills, ideas, and innovations here, cementing the UK’s position as a global leader for years to come.

    Share this page

    The following links open in a new tab

    • Share on Facebook (opens in new tab)
    • Share on Twitter (opens in new tab)

    Updates to this page

    Published 23 June 2025

    MIL OSI United Kingdom –

    June 23, 2025
  • MIL-OSI United Kingdom: expert reaction to the R&D elements of the Industrial Strategy

    Source: United Kingdom – Executive Government & Departments

    June 23, 2025

    Scientists comment on R&D elements of the Industrial Strategy, published by the Department for Business and Trade. 

    Prof Siddharthan Chandran, Director of the UK Dementia Research Institute, said: 

    “Today’s Industrial Strategy is an important milestone in delivering an internationally competitive package that realises the UK’s potential as a global leader in research and innovation. 

    “The plan rightly demonstrates a strong commitment to long-term investment that will make the most of UK innovations, driving growth across the country. It is right that we forge ahead and double down on our backing for R&D by creating the most attractive environment for innovative research. At the UK Dementia Research Institute, we know that a globally competitive system which supports academic-industry partnerships and spinouts is the way to build a culture of translating research into health and wealth impact. This is about building capacity, recruiting and retaining talent, attracting investment, and accelerating delivery for people living with dementia. 

    “We look forward to seeing this built on in the upcoming Life Sciences Sector Plan and 10 Year Health Plan. By harnessing the UK’s scientific excellence and NHS research capability we can deliver growth for the economy and build toward a future of healthy brain ageing for all.”

    Dr Hayaatun Sillem CBE, Chief Executive of the Royal Academy of Engineering, said:

    “We are delighted to see the announcement of new skills packages for tech, engineering and defence, recognising that the Industrial Strategy’s objectives simply cannot be delivered without a significant boost to investment in our engineering and tech talent base. These packages provide a much-needed opportunity for government to take a holistic view of the rapidly changing skills landscape, and to work with partners across industry and professional bodies to make sure the UK tackles its longstanding skills and diversity deficits in these crucial areas. Today is International Women in Engineering Day – a reminder that we still have much to do to deliver equitable participation in these high-value jobs, and better outcomes for people from all parts of the UK.

    “The Royal Academy of Engineering looks forward to supporting government in taking forward these recommendations, including through our new Skills Centre. We also welcome the publication of the Technology Adoption Review and hope that this will result in meaningful action to increase the capacity of the UK’s industrial base and public sector to deploy existing technologies at the scale and pace demanded in today’s tech-driven world.”

    ‘The UK’s Modern Industrial Strategy’ was published by the Department for Business and Trade at 9am UK time on Monday 23rd June 2025.

    https://www.gov.uk/government/publications/industrial-strategy

     

    Declared interests

    The nature of this story means everyone quoted above could be perceived to have a stake in it. As such, our policy is not to ask for interests to be declared – instead, they are implicit in each person’s affiliation.

    MIL OSI United Kingdom –

    June 23, 2025
  • MIL-OSI Russia: The United States has urged its citizens to exercise increased caution abroad.

    Translation. Region: Russian Federal

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

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

    WASHINGTON, June 23 (Xinhua) — The U.S. State Department on Sunday issued a global security alert, urging U.S. citizens abroad to exercise increased caution.

    “The conflict between Israel and Iran has led to disruptions in air traffic and periodic closures of airspace in the Middle East,” says a statement posted on the department’s official website.

    “There is a potential for protests against U.S. citizens and interests abroad. The State Department advises U.S. citizens worldwide to exercise increased caution,” the warning said.

    The United States struck three key Iranian nuclear sites on Saturday, saying it had destroyed the country’s nuclear program.

    Late on Saturday, US President Donald Trump warned that any retaliatory strike by Iran “will be met with force far beyond what the world saw tonight.”

    Last week, the State Department warned American citizens against traveling to Israel, Gaza and the West Bank due to armed conflict, terrorism and civil unrest. –0–

    MIL OSI Russia News –

    June 23, 2025
  • MIL-OSI Asia-Pac: LegCo to consider Trade Unions (Amendment) Bill 2025

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Legislative Council Secretariat:

         The Legislative Council (LegCo) will hold a meeting on Wednesday (June 25) at 11am in the Chamber of the LegCo Complex. During the meeting, the Second Reading debate on the Trade Unions (Amendment) Bill 2025 will resume. If the Bill is supported by Members and receives its Second Reading, it will stand committed to the committee of the whole Council. After the committee of the whole Council has completed consideration of the Bill and its report is adopted by the Council, the Bill will be set down for the Third Reading.

         The Second Reading debate on the Post Secondary Colleges (Amendment) Bill 2025 will also resume. If the Bill is supported by Members and receives its Second Reading, it will stand committed to the committee of the whole Council. After the committee of the whole Council has completed consideration of the Bill and its report is adopted by the Council, the Bill will be set down for the Third Reading.

         On Members’ motions, Mr Ma Fung-kwok will move a motion on “Keeping pace with the times and updating cultural policy”. The motion is set out in Appendix 1. Mr Dennis Leung and Mr Erik Yim will move separate amendments to Mr Ma’s motion.

         Mr Holden Chow will move a motion on “Addressing the excessive use of Internet and electronic screen products by children and adolescents”. The motion is set out in Appendix 2. Dr Johnny Ng, Mr Luk Chung-hung and Mr Chan Kin-por will move separate amendments to Mr Chow’s motion.

         During the meeting, Mr Chan Chun-ying will present the “Finance Committee Report on the examination of the Estimates of Expenditure 2025-2026” and address the Council.

         Members will also ask the Government 22 questions on various policy areas, six of which require oral replies.

         The agenda of the above meeting can be obtained via the LegCo Website (www.legco.gov.hk). Members of the public can watch or listen to the meeting via the “Webcast” system on the LegCo Website. To observe the proceedings of the meeting at the LegCo Complex, members of the public may call 3919 3399 during office hours to reserve seats.

    MIL OSI Asia Pacific News –

    June 23, 2025
←Previous Page
1 … 404 405 406 407 408 … 2,041
Next Page→
NewzIntel.com

NewzIntel.com

MIL Open Source Intelligence

  • Blog
  • About
  • FAQs
  • Authors
  • Events
  • Shop
  • Patterns
  • Themes

Twenty Twenty-Five

Designed with WordPress