Category: Business

  • MIL-OSI Economics: Huawei Showcases 5G-A Development and Value of Scenario-based AI

    Source: Huawei

    Headline: Huawei Showcases 5G-A Development and Value of Scenario-based AI

    [Shanghai, China, June 18, 2025] During MWC Shanghai 2025, Huawei is showcasing new developments in 5G Advanced (5G-A) experience monetization and scenario-based services powered by AI agents. The company’s exhibition at this year’s event has been titled “Accelerating the Intelligent World” as they intend to meet with global carriers, industry partners, and opinion leaders to discuss new paths for carrier development that focus on creating value using AI.
    Huawei’s showcase is focusing on their latest innovations in three areas:

    Services: Huawei is expected to announce the success of a number of 5G-A experience monetization and scenario-based AI application (AI-to-X) projects they have carried out in collaboration with China’s three major carriers.
    Infrastructure: Huawei is hosting presentations by their carrier partners on their recent experience in building AI-centric networks, and will discuss how to create AI computing hubs that can enable business success with AI. The company will also launch a new comprehensive AI Ultra-Broadband (AI UBB) solution that covers all network layers from home broadband to transport networks. The solution will come with end-to-end built-in computing power and comprehensive performance enhancements aimed at accelerating network evolution towards higher-level autonomy, which will in turn improve AI application experience and enable business growth.
    Operations: Huawei and China’s three major carriers will jointly share their latest best practices and achievements in intelligent wireless network operations and intelligent home broadband operations, as well as AI computing services for training and inference. These practices help carriers build, maintain, and utilize computing power.

    Commercial 5G-A adoption is expected to accelerate in a number of regions in 2025, including China, the Middle East, and Asia-Pacific. Carriers in these regions are actively exploring experience monetization models.
    Eric Xu, Huawei’s Deputy Chairman and Rotating Chairman, gave a keynote on pathways for driving growth in the telecoms industry. Xu began his speech by sharing observations about the current status of the telecoms industry: “After nearly four decades of rapid growth, the industry has entered a period of steady development, while facing some challenges to new growth.”
    He proceeded to expand on four potential pathways to growth:

    Ramping up for changes in user needs and meeting new demands with high growth potential
    Boosting HD video supply and consumption through coordinated effort across the ecosystem
    Bringing 5G to every car for new growth in intelligent connected vehicles
    Bringing FTTR to micro and small businesses to make the most of opportunities in AI

    “Of course, every carrier is different,” concluded Xu. “Their markets are different, their business environment is different – and so is their competitive landscape. So the pathways to growth are different too. We’re ready and willing to work together, helping carriers explore opportunities unique to them and carve out the right pathways to long-term, sustainable growth.”

    Huawei’s booths in Hall N1 at MWC Shanghai 2025

    China has emerged as a global pioneer in 5G-A, with 5G-A already available in over 300 of its cities. Carriers now offer 5G-A mobile plans in more than 30 Chinese provinces and the country currently has over 10 million 5G-A users. Carriers in China, the Middle East, and other regions are also exploring the new value framework for experience monetization by introducing premium upgrade initiatives. 5G-A offers users ultra-fast networks and fuels intelligent transformation in multiple sectors, including smart living, transportation, and manufacturing.
    The communications industry is facing significant disruption thanks to AI-driven innovation. The success of new experience monetization models also indicates the industry will soon enter a new era of growth. These changes are expected to reshape the way people interact with each other, with organizations, and with society.
    Carriers are uniquely positioned to embrace this surge in AI and explore new AI applications because of their inherent strengths in cloud, network, intelligence, and computing. They are using AI to transform their services, infrastructure, and operations, which is unlocking new drivers for business growth.
    Many carriers are rebranding themselves as providers of personalized, integrated, and high-quality AI agents that are accessible to consumers anytime and anywhere. Within the smart home market, they are upgrading existing services by enabling coordination between various smart devices to enhance smart home companionship. Carriers are also moving into the in-vehicle services market by integrating AI agents with vehicle-to-everything (V2X) technologies to create smart, mobile third spaces that deliver new experiences for monetization. For businesses, they are upgrading their capabilities by enhancing computing-network services and model-based services that will deeply empower production and operations.
    MWC Shanghai 2025 will be held from June 18 to June 20 in Shanghai, China. During the event, Huawei will showcase its latest products and solutions in Hall N1 of the Shanghai New International Expo Center (SNIEC).
    The commercial adoption of 5G-Advanced is accelerating in 2025. Huawei collaborates with global carriers, industry experts, and opinion leaders to explore how innovations in AI can be used to reshape telecom services, infrastructure, and operations to generate new revenue sources and accelerate the transition towards an intelligent world.
    For more information, please visit: https://carrier.huawei.com/en/events/mwcs2025

    MIL OSI Economics

  • MIL-OSI Asia-Pac: LCQ14: Family-friendly facilities in public and private premises

    Source: Hong Kong Government special administrative region

    Following is a question by Dr the Hon Ngan Man-yu and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (June 18):

    Question:

    It is learnt that the research team of the Equal Opportunities Commission has conducted an access audit of babycare and lactation (B&L) facilities in shopping malls and government premises in Hong Kong, with the findings revealing that some shopping malls and government premises has not yet provided B&L rooms, and some existing babycare areas do not comply with the suggested size set out in the Buildings Department’s Practice Note on “Provision of Babycare Rooms and Lactation Rooms in Commercial Buildings” (Practice Note). As regards family-friendly facilities in public and private premises, will the Government inform this Council:

    (1) whether it knows the number, distribution and floor area ratio of B&L facilities in public and private premises, and the proportion of such facilities that complies with the suggested size in the Practice Note, together with a breakdown of such figures by the 18 districts across the territory;

    (2) whether it has already commenced a study on measures to promote the provision of B&L facilities in public premises, including introducing mandatory requirements for newly-built public facilities (e.g. libraries, parks, beaches, sports venues) to provide B&L facilities, and motivating existing public facilities to renovate and retrofit B&L facilities as appropriate; if so, of the details; if not, the reasons for that; and

    (3) whether, in addition to providing floor area ratio concessions, it has considered implementing policy incentives to encourage private premises to provide B&L facilities and family-friendly parking spaces, as well as using administrative measures or legislation to promote the development of such facilities in the long term; if so, of the details; if not, the reasons for that?

    Reply:

    President,

    International literature and researches showed that breastmilk is the ideal food for infants. Breastmilk is safe, clean and contains antibodies which can help prevent many common childhood illnesses. Breastfed children perform better in intelligence tests, are less likely to be overweight or obese, and are less prone to have diabetes later in life.

    The Government has all along been promoting, protecting and supporting breastfeeding through a multi-pronged approach. The Government has set up a Committee on Promotion of Breastfeeding in 2014. Members include representatives from relevant professional healthcare bodies, academia as well as representatives of the organisations that have participated in the promotion of breastfeeding. The Committee provides specific recommendations on strategies and action plans to strengthen the promotion, protection and support for breastfeeding. Its objectives are to enhance the sustainability of breastfeeding and promote breastfeeding as the norm for babycare widely accepted by the general public. In addition to fostering the establishment of Breastfeeding Friendly Premises in public places such that breastfeeding mothers can breastfeed their children or express milk anytime, the Government also implements the Baby-Friendly Health Facility accreditation in the Maternal and Child Health Centres (MCHCs) and public hospitals to enhance the professional support to breastfeeding mothers after discharge from hospitals. At present, a total of 15 MCHCs have been accredited as Baby-Friendly Health Facilities. Besides, all eight public hospitals with obstetrics departments and one private hospital were accredited as Baby-Friendly Hospitals.

    In consultation with the Department of Health (DH), the Hospital Authority (HA), as well as relevant policy bureaux and government departments, the consolidated reply to the question raised by Dr the Hon Ngan Man-yu is as follows:

    (1) According to the DH’s record, as at June 15, 2025, there were a total of 422 babycare rooms in the premises of government departments or public organisations (a breakdown of the numbers are at Annexes 1 and 2), which include various types of venues, such as hospitals, MCHCs, cultural and recreational facilities, community halls and shopping centres of housing estates.

    To promote the provision of babycare rooms in private commercial buildings, the Buildings Department (BD) issued the Practice Note on the Provision of Babycare Rooms in Commercial Buildings in February 2009 and had made further updates in November 2018 to encourage the provision of babycare rooms for the public and lactation rooms for staff in private commercial buildings. In June 2024, the BD updated the requirements for Building Environmental Assessment Method Plus certification and gross floor area (GFA) concessions to allow development projects seeking certification to secure the points and GFA concession through the provision of babycare rooms and breastfeeding rooms.

    (2) and (3) The Government has been actively promoting the provision of more babycare and breastfeeding facilities in both public and private premises through various policy measures.

    The Government developed the Advisory Guidelines on Babycare Facilities in August 2008 to encourage the provision of babycare rooms in public venues managed by the Government. To enhance the provision of babycare and breastfeeding facilities, the Government mandated the provision of babycare and breastfeeding facilities in the newly completed government premises since early 2019. Regarding the public facilities mentioned in part 2 of the question, the Leisure and Cultural Services Department has included babycare rooms as a standard provision in accordance with relevant requirements, and will provide babycare facilities in planning for new major cultural and recreational facilities, as well as venue renovation works.

    Additionally, since 2017, the Government has included requirements for the provision of babycare rooms and/or lactation rooms in the Conditions of Sale of new commercial land sale sites (excluding land designated for hotel use only). The Conditions of Sale specify detailed requirements, including the area and number of babycare rooms and/or lactation rooms that shall be provided in these commercial development projects. As at the end of May 2025, the Government incorporated these requirements in the Conditions of Sale of eight new commercial sites.

    Meanwhile, the Government will continue to work closely with various sectors of the society to strengthen the professional support for breastfeeding mothers in the healthcare sector while stepping up publicity on breastfeeding in the community through various channels, with a view to fostering a proactive culture of support for breastfeeding in the community and creating a friendly environment conducive to breastfeeding. Key initiatives include –

    (i) among the 29 MCHCs currently providing services under the DH, 15 of them have been accredited as Baby-Friendly Health Facilities. Accreditation procedures have also commenced gradually for the remaining MCHCs. The MCHCs will formulate infant feeding policies and action plans, provide training for staff members, continue monitoring the implementation of breastfeeding support measures, etc. The DH will continue to expedite the accreditation of Baby-Friendly Health Facilities for MCHCs to strengthen the professional support offered by the healthcare institutions and staff members to breastfeeding mothers;

    (ii) continuing to follow up on the relevant work with the working group under the Committee on Promotion of Breastfeeding to enhance and reinforce the breastfeeding-friendly measures at hospitals with obstetrics departments (including public and private hospitals);

    (iii) encouraging the implementation of the Breastfeeding Friendly Workplace policy with guidelines issued for employers and employees with specific advice on supporting breastfeeding to support working mothers to continue breastfeeding after returning to work; and

    (iv) stepping up publicity and advocacy for breastfeeding through mass media, social media platforms, large-scale events, etc. Among others, the DH, in collaboration with the HA, the Hong Kong Private Hospitals Association, the Hong Kong Committee for United Nations Children’s Fund, and the Baby Friendly Hospital Initiative Hong Kong Association, organised the large-scale Breastfeeding Symposium in November 2024, which brought together local and overseas experts to share with representatives of the public and private healthcare sectors, healthcare professionals and other stakeholders the various issues related to breastfeeding, including policies and professional support.

    To further support breastfeeding, the Government put forward in the Chief Executive’s 2023 Policy Address the establishment of a breast milk bank and the related mechanism for breast milk donation in 2025. Such arrangement aims to provide breast milk for infants and young children who cannot be breastfed by their biological mothers, and especially, to minimise the chance of severe illness in premature and severely-ill babies. The Hong Kong Breast Milk Bank, located at the Hong Kong Children’s Hospital, commenced operations on January 6, 2025, obtained ISO 22000 certification in April of the same year, and began supplying pasturised donor breast milk to all nine public hospitals in Hong Kong with neonatal intensive care units in March 2025. Currently, there are more than 230 registered breast milk donors. Over 900 litres of breast milk have been collected, providing optimal nutrition for extremely premature and severely-ill newborn babies. Meanwhile, neonatal intensive care units in public hospitals have already distributed pasturised donor breast milk to 120 infants with clinical needs.

    Meanwhile, having consulted the relevant policy bureaux and government departments, the Government currently does not have any relevant definitions and measures on the use of parking spaces as family-friendly facilities.

    Ends/Wednesday, June 18, 2025
    Issued at HKT 17:20

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Roadmap for ESG Development for Logistics Industry announced to enhance competitiveness

    Source: Hong Kong Government special administrative region

    Roadmap for ESG Development for Logistics Industry announced to enhance competitiveness

    The Transport and Logistics Bureau (TLB) announced the Roadmap for ESG (environmental, social and governance) Development for Logistics Industry today (June 18) for local small and medium-sized enterprises (SMEs) in the logistics industry to follow for achieving compliance with international ESG requirements, with an aim to enhance the competitiveness of Hong Kong’s logistics industry and hence Hong Kong’s position as an international logistics hub. Green and sustainable development is one of the directions that the Government has specified for the way forward for the logistics industry in the Action Plan on Modern Logistics Development announced in October 2023. To promote the development of green and sustainable logistics, the Government has committed in the Action Plan to formulating a clear ESG roadmap for the industry to assist logistics enterprises in meeting international ESG requirements progressively. Upon conducting a consultancy study, the TLB has worked out the Roadmap by taking into account international ESG standards and current market developments while working in consultation with the Hong Kong Logistics Development Council and various organisations and players in the industry. The Roadmap covers a three-year period from 2025 to 2027 and adopts a three-stage approach for logistics SMEs to build up their capabilities to collect and report ESG data, thereby meeting the most stringent prevailing international ESG disclosure 18/06/2025, 11:58 Roadmap for ESG Development for Logistics Industry announced to enhance competitiveness https://www.info.gov.hk/gia/general/202506/18/P2025061700577p.htm#:~:text=The Roadmap covers a three,the time the Roadmap expires. 1/3 requirements by the time the Roadmap expires. The first stage involves raising logistics SMEs’ awareness of ESG principles and international ESG requirements, the second stage involves equipping logistics SMEs with the capability to collect and record logistics ESG data, while the third stage aims to prepare logistics SMEs for ESG reporting, which is foreseen to be a possible international requirement in the next phase of ESG development. A spokesperson for the TLB said, “ESG has become an international trend, with the European Union having already made ESG disclosures along the whole supply chain compulsory for enterprises from this year onwards, and the Mainland also formulating its own ESG disclosure standards that are planned to be applicable to all companies, including SMEs, by 2030. Therefore, for Hong Kong logistics SMEs, which are well-plugged into the global supply chain, ESG adoption is no longer an option but an essential step for their survival and maintenance of their global competitiveness. We hope that the Roadmap will provide logistics SMEs with an easy-to-follow guide to embark on their ESG journey and help to enhance the competitiveness of our logistics industry, thereby consolidating Hong Kong’s position as an international logistics hub. “Promotion and training will be crucial for logistics SMEs to reach each of the aforesaid stages of the Roadmap. In this connection, the TLB will collaborate with and encourage industry players, trade associations, professional bodies and training institutions to provide necessary support to deliver the Roadmap,” the spokesman added. As the next step, the TLB will promote the adoption of the Roadmap in association with industry stakeholders, and will review and update the Roadmap in a timely manner 18/06/2025, 11:58 Roadmap for ESG Development for Logistics Industry announced to enhance competitiveness https://www.info.gov.hk/gia/general/202506/18/P2025061700577p.htm#:~:text=The Roadmap covers a three,the time the Roadmap expires. 2/3 ahead of its expiry with reference to the prevailing international ESG requirements, among others, to help logistics SMEs to continue to be ESG-compliant. Apart from the ESG Roadmap, the TLB also launched today a dedicated online ESG resource centre on the website of the Council, which serves as a one-stop portal for information related to ESG for reference by logistics companies in Hong Kong. In addition, to assist logistics SMEs in starting their ESG journey, the TLB will launch within this year a set of ESG data collection tools that will facilitate effective collection and recording of logistics ESG data essential for compliance with international ESG disclosure requirements by SMEs. The ESG roadmap has been uploaded to the TLB’s website. Ends/Wednesday, June 18, 2025 Issued at HKT 10:30 NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ10: Crackdown on illegal workers

    Source: Hong Kong Government special administrative region – 4

    Following is a question by the Hon Edmund Wong and a written reply by the Secretary for Security, Mr Tang Ping-keung, in the Legislative Council today (June 18):
     
    Question:
     
    It has been reported that various law enforcement agencies have recently discovered illegal workers using online car hailing or delivery platforms to work as drivers or food delivery workers, and have taken enforcement actions against them. In this connection, will the Government inform this Council:
     
    (1) of the numbers of illegal workers and employers of illegal workers who were prosecuted in the past three years, together with a quarterly breakdown of such figures;
     
    (2) as it is learnt that engaging in work through digital platforms does not involve employment procedures such as job interviews, whether the authorities have assessed if the activities on such platforms are more susceptible to involving illegal workers; whether it has found any criminal syndicate specialising in acquiring the personal data of some Hong Kong residents for the purpose of registering work accounts on such platforms and subsequently making profits by employing illegal workers to provide services with these accounts; if so, of the details;
     
    (3) whether the authorities have contacted such digital platforms to ascertain if there are loopholes in their operations from which criminal syndicates and illegal workers may benefit; if so, of the details; and
     
    (4) whether it has studied enacting legislation to step up the crackdown on illegal workers using such digital platforms to work for reward?

    Reply:
     
    President,
     
    The Government is committed to combatting illegal employment, with a view to protecting job opportunities for the local workforce. It is a serious offence to engage in illegal employment. Employers, illegal workers as well as aiders and abettors of illegal employment will be liable to prosecution in accordance with the Immigration Ordinance (IO). The IO has different provisions targeting relevant offences committed by different groups of persons. Visitors, illegal immigrants and non-refoulement claimants, etc, are prohibited from taking any employment, whether paid or unpaid, or establishing or joining in any business. Aiders and abettors as well as illegal workers are liable to the same penalties. In addition, the Government amended the IO in 2021 by increasing the penalty of employers of illegal workers, with the maximum penalty significantly increased from a fine of $350,000 and three years’ imprisonment to a fine of $500,000 and 10 years’ imprisonment with a view to reflecting the gravity of such offences. The directors, managers, secretaries, partners, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that employers of illegal workers should be given an immediate custodial sentence.
     
    Regarding the question raised by the Hon Edmund Wong, having consulted the Labour and Welfare Bureau/Labour Department (LD), the Hong Kong Police Force (the Police) and the Immigration Department (ImmD), our reply is as follows:
     
    (1) According to ImmD’s record, the number of illegal workers prosecuted and the number of employers of illegal workers prosecuted over the past three years are tabulated below:
     

    Year / quarter Number of illegal workers prosecuted Number of employers of illegal workers prosecuted
    2022 1st quarter 50 23
    2nd quarter 148 41
    3rd quarter 175 39
    4th quarter 166 35
    Total in 2022 539 138
    2023 1st quarter 167 26
    2nd quarter 221 29
    3rd quarter 269 34
    4th quarter 286 20
    Total in 2023 943 109
    2024 1st quarter 220 50
    2nd quarter 268 33
    3rd quarter 300 33
    4th quarter 225 53
    Total in 2024 1 013 169
    2025 1st quarter 262 39

    (2) Illegal employment is not limited to individual industries. The Government has all along combatted illegal employment and enforced the law vigorously. With an increased demand for the services provided by online platforms (including online food delivery and online car hailing) in recent years, the relevant law enforcement agencies have taken respective actions in combatting illegal employment and will conduct joint operations when necessary. Regarding the online food delivery platforms, the ImmD and the Police arrested 180 persons in relevant enforcement operations from 2024 to May 2025, 98 were non-ethnic Chinese persons suspected of working illegally as food delivery couriers, 54 were local residents suspected of selling or renting their food delivery courier accounts to the illegal workers, four were suspected of employing illegal workers and the remaining were arrested because of engaging in other illegal works or using false instruments, etc. Regarding online car hailing, four persons who were suspected of breach of condition of stay were arrested by the Police during the same period. 
     
    In the above operations, the ImmD and the Police did not identify any syndicate specialising in acquiring the personal data of Hong Kong residents for the purpose of registering work accounts on such platforms to make profits through employing illegal workers to provide services with those accounts. The law enforcement agencies will continue to closely monitor the situation and will not take this lightly. 
     
    (3) Regarding online food delivery platforms, the ImmD and the Police maintain communications with platform companies from time to time, and have already requested them to strengthen the security measures on account registration and logging in, including adding authentication steps, requesting authentication of true identity, etc, in order to prevent the account holders from renting their accounts to others for food delivery. The LD has also established a Liaison Group comprising representatives of platform companies, labour organisations and the Government to explore suitable proposals to enhance the protection for platform workers, including stepping up on prevention of illegal workers in food delivery services. Regarding online car hailing, the Government has all along emphasised through various channels that any business shall be operated in accordance with the law.
     
    (4) As aforementioned, the IO was amended in 2021 by increasing the penalty of employers of illegal workers, with the maximum penalty significantly increased from a fine of $350,000 and three years’ imprisonment to a fine of $500,000 and 10 years’ imprisonment. Regardless of whether online working platform or other working mode is involved, employers share the same legal responsibility to ensure employees are lawfully employable persons. The Government will continue to actively combat illegal employment on various fronts, including stepping up inspections and “cyber patrols”, taking rigourous law enforcement, and will also strengthen publicity and education, in order to raise the public’s law-abiding awareness.
     
    Stepping up inspections and rigourous law enforcement
     
    To deter employers from employing illegal workers, labour inspectors of the LD will, through regular workplace inspections, check employees’ proof of identity and employees records kept by employers under the power conferred by the Part IVB of the IO. Suspected illegal employment cases detected will be referred to relevant law enforcement agencies for follow-up.
     
    The Cybercrime and Forensics Investigation Group (The Group) of the ImmD is dedicated to assisting frontline investigators in collecting digital evidence so as to strengthen the ability in case investigation and evidence collection, with a view to coping with criminals who may use well-developed technologies to commit immigration-related offences and some potential complicated crimes in the future. The Group has been proactively combatting cybercrimes related to illegal employment by conducting constant “cyber patrols”. It will take resolute enforcement actions against any person who is found using social media or instant messaging software to organise, arrange or incite the public to commit serious crimes, such as illegal employment etc.
     
    The ImmD and the Police will continue to combat illegal employment related crimes rigourously, and will, depending on operational needs, risk assessment and other considerations, flexibly arrange sufficient manpower to conduct intelligence-led enforcement operations against illegal employment related crimes.
     
    Publicity and education to raise law-abiding awareness
     
    In order to raise the public’s law-abiding awareness and let the employers understand the serious consequences of employing illegal workers, the ImmD has deployed officers and promotional vehicles to black spots of illegal employment from time to time to distribute “Don’t Employ Illegal Workers” leaflets to employers and remind them to inspect the original Hong Kong Identity Cards of job seekers to ascertain whether they are lawfully employable. At the same time, the ImmD has also actively published information on the effectiveness of the latest operations against illegal employment and disseminated the message of “Employing Illegal Workers is an Offence” through its official accounts on different social media platforms. In addition, the ImmD has provided information of identifying lawfully employable persons to the public through various channels including ImmD’s website, leaflets and seminars, etc.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ16: Opening of bank accounts by non-commercial organisations

    Source: Hong Kong Government special administrative region

         Following is a question by Dr the Hon Chan Han-pan and a written reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (June 18):
     
    Question:
     
         I have received a number of requests for assistance involving the opening of bank accounts by non-commercial organisations and, among them, some “three-nil buildings” are still unable to open bank accounts six to eight months after the formation of owners’ corporations (OCs), rendering the OCs unable to raise funds for their operation. On the contrary, it takes only one to two months on average for commercial organisations to open accounts. There are views that the difficulties encountered by OCs in opening accounts have seriously affected the livelihood of the grass roots and run counter to the Government’s objective of improving the community. In this connection, will the Government inform this Council:
     
    (1) whether it knows the total number of complaints received by the Hong Kong Monetary Authority (HKMA) in the past three years about non-commercial organisations encountering difficulties (e.g. excessively long processing time) in opening bank accounts;
     
    (2) whether it knows if HKMA has put in place measures to streamline the requirements for banks in vetting and approving applications from non-commercial organisations for opening accounts (in particular social service accounts such as those for OCs), so as to shorten the processing time;
     
    (3) whether it will amend the Banking Ordinance (Cap. 155) or the licensing guidelines to expressly require banks to provide social service organisations with convenient procedures for opening accounts; and
     
    (4) whether it knows if HKMA will set indicators to increase banks’ incentive to process applications from organisations such as OCs for opening accounts, or impose penalties on banks against which complaints have been repeatedly lodged?
     
    Reply:
     
    President,
     
         To safeguard the stability of the banking system and customer interests, banks are required to comply with the relevant laws and regulatory requirements when establishing business relationship with customers. Banks are required to conduct customer due diligence (CDD) on applicants seeking to open a bank account irrespective of whether they are commercial entities or non-commercial entities (including Owners’ Corporations (OCs)).
     
         The Hong Kong Monetary Authority (HKMA) has been closely monitoring the situation regarding bank account opening of non-commercial entities in Hong Kong. In this connection, the HKMA reminds the banking sector from time to time that while implementing robust control measures, they should also avoid creating unreasonable barriers for legitimate businesses and entities (including OCs and other non-commercial entities) to access banking services. Banks should maintain proper communication with customers throughout the CDD process, properly handle customers’ account opening applications through transparent, reasonable and efficient procedures, uphold the principle of treating customers fairly, and where appropriate flexibly and pragmatically handle account opening applications.
     
         After consulting the HKMA, our reply to the four parts of the question is as follows:
     
         The HKMA issued a circular to banks in April 2023 to provide further guidance on the CDD requirements with respect to account opening for commercial entities or non-commercial entities. The circular also sets out guidance on communication with customers, understanding of market developments and risk management, as well as shares past cases and good practices for the industry’s reference, so as to assist banks in achieving effective outcomes and enhancing customer experience in account opening. The HKMA has also required banks to review their account opening procedures and CDD measures, and provide staff training.
     
         In response to the HKMA’s guidance, banks have introduced various facilitation measures in recent years to improve the account opening process for customers, covering OCs and other non-commercial entities. These measures include providing applicants with updates on the progress of their account opening applications, establishing review mechanisms and re-examining account opening applications upon customers’ request. The HKMA has also set up a dedicated email and hotline to collect enquiries from the public and relevant stakeholders, which are handled and followed up by a dedicated team within the HKMA for account opening and maintenance (the dedicated team).
     
         Regarding the account opening application process for OCs, as an OC is an independent body corporate set up under the Building Management Ordinance (Cap. 344), banks would adopt CDD measures applicable to a legal person. These include requiring applicants to provide relevant registration documents of the corporation, minutes or extracts of resolutions of the management committee meeting or general meeting of the OC regarding the approval for opening a bank account and appointment of authorised signatories, as well as the identification documents of the appointed authorised signatories. Banks may also request additional information or documents from the applicants having regard to the specific circumstances and their risk assessments. The turnaround time for account opening depends on the circumstances of individual cases, as well as whether the applicant has furnished the required information. As the HKMA understood from major banks, the account opening process could generally be completed in around two weeks upon receipt of the required information and documents from applicants.
     
         The HKMA has been maintaining close communication with the Home Affairs Department (HAD) and offering support to the OCs seeking assistance on bank account opening under the established communication and referral mechanism. In May 2025, the HKMA and the HAD held a meeting with representatives from the banking sector for a direct exchange on matters relating to bank account opening for OCs, including a discussion on the bank account opening situations following the establishment of OCs. The participating banks responded positively and have actively introduced facilitation measures to assist OCs, including publishing information in relation to bank account opening for OCs on banks’ websites; providing hotlines and contact information for OCs to enquire about account opening related information with individual banks; assigning designated staff to handle enquiries and applications in relation to bank account opening for OCs; as well as offering multiple channels and appointment arrangements to facilitate account opening for OCs. To further enhance transparency and shorten the account opening turnaround time, the HKMA, the HAD and the banking sector are jointly compiling practical information related to bank account opening, so as to assist OCs to better understand the account opening requirements and make advance preparation for the necessary documentations, with a view to enhancing customer experience.
     
         The numbers of complaints and requests for assistance received by the HKMA and the aforementioned dedicated team over the past three years regarding banks’ handling of account opening applications by non-commercial entities are tabulated as follows:
     

      2022 2023 2024 2025
    (as of end-May)
    Complaint received by the HKMA None 1 case
    (Note 1)
    None 1 case
    (Note 2)
    Request for assistance received by the dedicated team 2 cases
    (Note 3)
    2 cases
    (Note 4)
    None None

    Note 1: The bank concerned properly handled the complaint, and the complainant did not seek further assistance from the HKMA after communicating with the bank.
    Note 2: The bank is following up on the case as requested by the HKMA.
    Note 3: Two cases concerning OCs have been resolved.
    Note 4: These involved one case concerning an OC and one case concerning other non-commercial entity, both of which have been resolved.
     
         Apart from the above cases, the HKMA also received cases referred by the HAD and district organisations from time to time, mainly concerning the bank account opening procedures and requirements for newly formed OCs. In this connection, the HKMA has provided appropriate assistance to these newly formed OCs, and these OCs have subsequently started to proceed with their bank account opening applications. The HKMA noted that for some of these cases, bank accounts were successfully opened within about two weeks on average after the OCs provided the required information to banks. In certain cases, bank accounts were opened within one week.
     
         The HKMA and the banking sector have implemented a series of measures to facilitate bank account opening for various businesses and entities, while ensuring compliance with relevant laws and regulatory requirements. We consider that there is currently no need to introduce legislative amendments or set fixed targets regarding account opening matters. The HKMA will continue to maintain close communication and collaboration with the banking sector and relevant stakeholders on bank account opening matters, with a view to streamlining the related account opening processes and enhancing customer experience.

    MIL OSI Asia Pacific News

  • MIL-OSI: Bitget Wallet Launches “Fomo Thursdays” to Democratize Early Token Access

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, June 18, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial crypto wallet, is rolling out a new weekly program called Fomo Thursdays, offering users recurring access to early-stage token projects through a low-cost, gamified staking mechanism. It reflects the company’s broader push to simplify token participation by embedding launch activities directly within the wallet interface.

    Each Thursday, users can stake $10 worth of tokens to receive a randomized allocation of project tokens. The format removes high entry thresholds, trading requirements, and point-based systems common in traditional launch models. Rewards are distributed on-chain, and users can reclaim their full stake after each round. Unlike models that rely on sustained trading or large holdings, Fomo Thursdays offers a fixed-entry experience with transparent allocation logic and no principal risk.

    “Fomo Thursdays is a shift in how product launches can engage users directly,” said Jamie Elkaleh, CMO of Bitget Wallet. “By lowering barriers and introducing a weekly rhythm, we’re turning passive announcements into active, repeatable participation.”

    The first event features Bombie, a LINE-based mini-game developed by the team behind Catizen. As the first LINE Mini DApp to conduct a token launch, Bombie will allocate over 40 million BOMB tokens through Bitget Wallet’s exclusive TGE (token generation event) claim interface. Participants will have a chance to receive rewards, with the top prize set at $888 equivalent in BOMB tokens. With over 12 million users across LINE and Telegram, Bombie reflects a growing trend toward integrating casual messaging-based apps with tokenized infrastructure.

    The first staking window opens June 18 at 8:00 UTC and closes June 19 at 8:00 UTC, with token claims available starting June 19 at 10:00 UTC. Winners will receive BOMB tokens directly in-wallet, while all users may reclaim their staked USDT.

    For more information, visit the Bitget Wallet blog.

    About Bitget Wallet
    Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.
    For more information, visit: XTelegramInstagramYouTubeLinkedInTikTokDiscordFacebook
    For media inquiries, contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e30eb0a0-a423-440c-a9e8-77bd0c5c99e4

    The MIL Network

  • MIL-OSI: PROVEN VCT PLC: Publication of a supplementary prospectus

    Source: GlobeNewswire (MIL-OSI)

    ProVen VCT plc
    ProVen Growth and Income VCT plc
    Publication of Supplementary Prospectus

    18 June 2025

    ProVen VCT plc and ProVen Growth and Income VCT plc (the “Companies”) announce that they have published a supplementary prospectus (the “Supplementary Prospectus“) relating to the offers for subscription by the Companies issued on 6 November 2024 to raise up to £40 million by way of an issue of new ordinary shares in the Companies, with each raising up to £15 million (together with an over-allotment facility for each company to raise up to a further £5 million).

    The Supplementary Prospectus is a regulatory requirement under the Prospectus Regulation Rules and Section 87G of Financial Services and Market Act 2000 following the publication of the annual report and accounts for the year ended 28 February 2025 by each of the Companies (the “2025 Accounts“).

    Copies of the Supplementary Prospectus and the 2025 Accounts have been submitted to the Financial Conduct Authority and the Supplementary Prospectus will shortly be available for inspection at the National Storage Mechanism, which is located at: http://data.fca.org.uk/#/nsm/nationalstoragemechanism

    A copy of the Supplementary Prospectus is also available from the following website: www.proveninvestments.co.uk/

    Beringea LLP
    Company Secretary
    Telephone 020 7845 7820

    The MIL Network

  • MIL-OSI: ProVen Growth and Income VCT plc: Publication of a supplementary prospectus

    Source: GlobeNewswire (MIL-OSI)

    ProVen VCT plc
    ProVen Growth and Income VCT plc
    Publication of Supplementary Prospectus

    18 June 2025

    ProVen VCT plc and ProVen Growth and Income VCT plc (the “Companies”) announce that they have published a supplementary prospectus (the “Supplementary Prospectus“) relating to the offers for subscription by the Companies issued on 6 November 2024 to raise up to £40 million by way of an issue of new ordinary shares in the Companies, with each raising up to £15 million (together with an over-allotment facility for each company to raise up to a further £5 million).

    The Supplementary Prospectus is a regulatory requirement under the Prospectus Regulation Rules and Section 87G of Financial Services and Market Act 2000 following the publication of the annual report and accounts for the year ended 28 February 2025 by each of the Companies (the “2025 Accounts“).

    Copies of the Supplementary Prospectus and the 2025 Accounts have been submitted to the Financial Conduct Authority and the Supplementary Prospectus will shortly be available for inspection at the National Storage Mechanism, which is located at: http://data.fca.org.uk/#/nsm/nationalstoragemechanism

    A copy of the Supplementary Prospectus is also available from the following website: www.proveninvestments.co.uk/

    Beringea LLP
    Company Secretary
    Telephone 020 7845 7820

    The MIL Network

  • MIL-OSI NGOs: IAEA Director General’s Introductory Statement to the Board of Governors

    Source: International Atomic Energy Agency (IAEA) –

    (As prepared for delivery)

    As the armed conflict in Ukraine enters its fourth year, the nuclear safety and security situation throughout the country continues to be highly precarious. The presence of the IAEA at all Ukrainian nuclear facilities has been and continues to be an invaluable asset to the international community and must be preserved.

    The IAEA remains present at Ukraine’s nuclear power plant facilities. Difficult conditions have in the past month complicated and delayed one rotation of experts, which was safely completed in recent days. Back in December, a drone hit and severely damaged an IAEA official vehicle during a rotation. As I reported to you in the special Board meeting shortly afterward, staff survived this unacceptable attack unharmed, but the rear of the vehicle was destroyed. Other episodes followed, confirming the dangerous situation.

    Around Ukraine, the Khmelnitsky NPP, the Rivne NPP and the South Ukraine NPP, continue to operate amid serious challenges, including on the electricity infrastructure, a major risk to the reliable and stable supply of power crucial for the safe operation of NPPs. The electrical grid’s ability to provide a reliable off-site power supply to Ukrainian NPPs was further reduced by damage sustained following military attacks in November and December 2024, a mission of IAEA experts that visited and assessed seven critical electrical substations concluded late last year. Considering the seriousness of the situation, I visited the Kyivska electrical substation last month to observe the damage sustained first hand. On what was my 11th visit to Ukraine since the start of the war, I also met with President Volodymyr Zelenskyy, reiterating the IAEA’s commitment to supporting nuclear safety and security in Ukraine and our readiness to support the country’s plans to expand nuclear power at Khmelnytskyy NPP. Consultations with Moscow have also taken place and will continue, in the interest of nuclear safety and security at Zaporizhzhya Nuclear Power Plant.

    At Ukraine’s Zaporizhzhya Nuclear Power Plant (ZNPP), where the 6 reactor units are in cold shutdown, the status of the off-site power supply remains extremely vulnerable. For about one week ZNPP had to rely on a single off-site power line following the loss of its only remaining back-up line, confirming the extremely fragile situation. 

    Last month at the Chornobyl site a drone caused significant damage to the structure built to prevent any radioactive release from the reactor damaged in the 1986 accident and to protect it from external hazards. Although this attack did not result in any radioactive release, it nevertheless underlines the persistent risk to nuclear safety during this military conflict.

    Since the Board gathered for its last regular meeting in November 2024, the Agency has arranged 31 deliveries of nuclear safety, security and medical equipment and supplies to Ukraine, bringing the total so far to 108 deliveries valued at more than EUR 15.6 million. The Agency also has initiated the first phase of its support on safety and security of radioactive sources in Ukraine.

    We are grateful to all 30 donor states and the European Union for their extrabudgetary contributions, and I encourage those who can, to support the delivery of the comprehensive assistance programme, for which EUR 22 million are necessary.

    As reflected in my latest report to the Board on Nuclear Safety, Security and Safeguards in Ukraine, I would like to reiterate that all the IAEA’s activities in Ukraine are being conducted in line with relevant resolutions of the UN General Assembly and of the IAEA policy-making organs.

    Madame Chairperson,

    In February, I travelled to Fukushima to participate in collecting water samples off the coast of the Fukushima Daiichi Nuclear Power Station. I did this together with scientists from China, Korea and Switzerland as part of additional measures to promote transparency and build trust in the region during the ongoing release of ALPS-treated water from the plant. Additional measures focus on expanding international participation and transparency, allowing hands-on independent measurements of the concentration level of the water. This work is conducted within agreed parameters set by the IAEA in its role as an independent, impartial and technical organization.  IAEA officials and experts from laboratories from China, France, the Republic of Korea, and Switzerland also sampled ALPS -treated water – prior to dilution – from measurement/confirmation tanks on the premises at the site. The IAEA has maintained its independent monitoring and analysis efforts, confirming that tritium concentrations in the discharged batches remain far below operational limits.

    In December 2024, an IAEA Task Force concluded that the approach TEPCO, and the Government of Japan are taking continues to align with international safety standards.

    While in Japan, I also visited facilities where soil removed after the Fukushima Daiichi Nuclear Power Station accident is safely stored, managed, and recycled, an effort the IAEA has been supporting by working to ensure it meets international safety standards.

    You have before you the Nuclear Safety Review 2025 and the Nuclear Security Review 2025. Both documents present, in their respective areas, an analytical overview, the global trends, and the Agency’s main activities in 2024. They also identify the top priorities for the years ahead.

    This month the inaugural meeting of the Nuclear Security Working Group established under the Nuclear Harmonization and Standardization Initiative’s Regulatory Track will identify nuclear security topics of common interest amongst participating States and share regulatory approaches, good practices and lessons learned in ensuring the security of SMRs.

    Our preparatory work in advance of the launch of Atomic Technology Licensed for Applications at Sea (ATLAS) later this year is progressing. ATLAS will provide a framework to enable the peaceful maritime uses of nuclear technology, a prospect that is generating significant interest.

    Contracting Parties to the Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management (Joint Convention) later this month will participate in the 8th Review Meeting to study National Reports with the aim of improving safety in radioactive waste and spent fuel management.

    December saw the start of a new project supporting the establishment of sustainable regulatory infrastructure for radiation safety and the security of radioactive material in Central East Asia and the Pacific Islands.

    In June, Romania will host ConvEx-3, the IAEA’s highest level and most complex emergency exercise. In the event of an incident with transboundary implications, Member States will be called upon to implement a harmonized response and therefore this exercise will have a particular focus on regional collaboration.

    The International Conference on Nuclear and Radiological Emergency Preparedness and Response will be held in December in Riyadh in the Kingdom of Saudi Arabia.

    Madame Chairperson,

    Today, 417 nuclear power reactors operating in 31 countries make up almost 377 gigawatts of installed capacity, providing just under 10 per cent of the world’s total electricity and a quarter of its low-carbon supply.

    It is clear that countries are turning more and more to nuclear energy. In the IAEA’s high case scenario, global nuclear electricity generating capacity is seen increasing two and a half times by 2050.  Delivering on that promise will require public support. That is why the first IAEA International Conference on Stakeholder Engagement for Nuclear Power Programmes will gather governments, industry and practitioners from around the world in the final week of May. Mayors of municipalities with nuclear power facilities from around the world will share their experiences. No one is better placed to assess the impact and contribution to the community of nuclear facilities than those living there.

    Following our first Nuclear Stakeholder Engagement School, hosted by the Abdus Salam International Centre for Theoretical Physics in Trieste, Italy last November, we are now planning two more later this year. In addition, we have also established a new Stakeholder Engagement Advisory Service, which will help countries assess and strengthen their stakeholder engagement programmes.

    The use of Artificial Intelligence (AI) is rapidly evolving and growing in all spheres of life, including in nuclear science and technology. AI data centres require a lot of energy and nuclear reactors provide clean, reliable, and adaptable options, including in the form of SMRs and micro reactors.  Meanwhile, the integration of AI into the nuclear sector offers the chance to streamline operations across the nuclear power project life cycle. In this context the IAEA will host the International Symposium on Artificial Intelligence and Nuclear Energy this December. We look forward to welcoming as many of you as possible to this important and first-of-a-kind event here at the Agency’s headquarters.

    Within the Secretariat we are also intent on making the most of AI while mitigating its risks, therefore we have established official guidelines, a portal and a community of practice.

    Our work on fusion continues apace with the publication of Experiences for Consideration in Fusion Plant Design Safety and Safety Assessment.

    Madame Chairperson,

    The Nuclear Technology Review before you highlights key advancements in nuclear applications that support Member States in addressing critical priorities. This year’s review places particular emphasis on innovations in food safety and authenticity, energy security, early disease detection and cancer treatment, environmental sustainability, and advanced manufacturing.

    In November, the IAEA hosted the Ministerial Conference on Nuclear Science, Technology and Applications and the Technical Cooperation Programme. The Ministerial Declaration recognized both the critical role of nuclear science, technology, and applications in tackling global challenges, and the important role of the Technical Cooperation programme as a key mechanism in transferring, expanding and further accelerating Member State access to nuclear technology, materials, equipment and expertise for peaceful purposes.

    I am pleased to report the IAEA’s technical cooperation programme achieved an implementation rate of 86% in 2024. We provided our emergency assistance to Türkiye and Syria, assessing damage to civil structures following the earthquakes and building the capacities of Turkish and Syrian experts in non-destructive testing. We initiated procurement to reinstate X-ray and laboratory services in Grenada and Honduras in the aftermath of Hurricane Beryl and Tropical Storm Sara, and we aided oil-spill clean-up efforts in Trinidad and Tobago.

    In 2024, the Rate of Attainment for contributions to the TC Fund was 95%, underscoring Member States’ commitment to our work. To ensure resources for the TC programme are sufficient, assured and predicable, I urge Member States to contribute on time, and in full, to the TC Fund.

    Our flagship initiatives are making progress across the globe. Under Atoms4Food, about 27 countries from all regions have officially requested support. Member States have pledged almost EUR 9 million, two thirds of which was contributed by Japan to support livestock production in Côte d’Ivoire, food safety in Mauritania, and molecular laboratories in Vietnam, among other projects.

    Our network of international partnerships has grown with Memoranda of Understanding having been signed with Anglo American, CGIAR, and the Inter-American Institute of Cooperation in Agriculture (IICA). The partnership with Anglo American focuses on combating soil salinization through climate-smart agricultural practices.

    While I was in Japan last month, I signed a partnership with Sumitomo Corporation, one of the world’s largest integrated trading companies, to cooperate particularly in the area of sustainable uses of nuclear related technologies for multiple areas, including healthcare, shipping, fusion and capacity building efforts.  

    Under Rays of Hope, the Anchor Centre in Argentina held its first capacity-building event to strengthen paediatric radiotherapy services in Latin America and the Caribbean, creating a regional network for knowledge exchange and support.

    In January 2025, the IAEA conducted its first national-level quality assurance audit in diagnostic radiology, reviewing 16 hospitals in Qatar.

    The International Conference on Advances in Radiation Oncology (ICARO-4) will take place in the first week of June, focusing on emerging radiotherapy techniques to address global health challenges.

    Under the Zoonotic Disease Integrated Action (ZODIAC), a novel surveillance technology for high-risk pathogens was transferred to the IAEA’s Animal Production and Health Laboratory in November and will soon be passed on to Member States. New funding pledges from the Republic of Korea, Portugal, and Japan are supporting ZODIAC’s coordinated research projects in Asia and Africa, as well as the development of AI-driven platforms for zoonotic disease monitoring.

    Under NUTEC Plastics 104 Member States are engaged in microplastic monitoring, with 42 developing recycling technologies. Four countries in Asia-Pacific and Latin America have validated radiation-based upcycling technology at lab scale, with private sector collaboration helping to build up operations. China is developing a pilot-scale facility, bringing the total number of countries promoting the technology to nine.

    In November this year, the International High-Level Forum on NUclear TEChnology for Controlling Plastic Pollution (NUTEC-Plastics): Scaling Solutions and Partnerships for Global Impact will take place in the Philippines. I thank the Philippines Government for hosting this important milestone.

    The Global Water Analysis Laboratory Network (GloWAL) baseline survey has received 85 responses from 65 countries, informing future activities. Its first coordination meeting for the Spanish-speaking Latin America and the Caribbean is underway.

    Under ReNuAL 2, the construction of new greenhouses in Seibersdorf is nearing completion and the modernized laboratories will be ready to welcome staff soon.  

    Madame Chairperson,

    Regarding the issue of Iran’s nuclear programme, you have before you my latest report on verification and monitoring in the Islamic Republic of Iran in light of United Nations Security Council Resolution 2231 (2015).

    Following my last report, Iran’s stockpile of uranium enriched up to 60% U‑235 has increased to 275 kg, up from 182 kg in the past quarter. Iran is the only non-nuclear weapon State enriching to this level, causing me serious concern.

    It has been four years since Iran stopped implementing its nuclear-related commitments under the Joint Comprehensive Plan of Action (JCPOA), including provisionally applying its Additional Protocol and therefore it is also four years since the Agency was able to conduct complementary access in Iran.

    You also have before you my report on the NPT Safeguards Agreement with the Islamic Republic of Iran. Iran says it has declared all nuclear material, activities and locations required under its NPT Safeguards Agreement. However, this statement is inconsistent with the Agency’s findings of uranium particles of anthropogenic origin at undeclared locations in Iran. The Agency needs to know the current location(s) of the nuclear material and/or of contaminated equipment involved.

    There is also a discrepancy in the material balance of uranium involved in uranium metal production experiments conducted at Jaber Ibn Hayan Mutlipurpose Laboratory, for which Iran has not accounted.

    Having stated it had suspended such implementation, Iran still is not implementing modified Code 3.1, which is a legal obligation for Iran.

    I am seriously concerned that the outstanding safeguards issues remain unresolved. They stem from Iran’s obligations under its Comprehensive Safeguards Agreement and need to be resolved for the Agency to be in a position to provide assurance that Iran’s nuclear programme is exclusively peaceful.

    I deeply regret that Iran, despite having indicated a willingness to consider accepting the designation of four additional experienced Agency inspectors, did not accept their designation.

    There has been no significant progress towards implementing the Joint Statement of 4 March 2023. I call upon Iran urgently to implement the Joint Statement through serious engagement.

    In response to the Board’s request in its resolution of November 2024, I will produce a comprehensive and updated assessment on the presence and use of undeclared nuclear material in connection with past and present outstanding issues regarding Iran’s nuclear programme.

    High-level engagement is indispensable to making real progress. My visit to Tehran last November, and meetings with President Masoud Pezeshkian and Foreign Minister Abbas Araghchi indicate that there may be room for constructive compromises. I hope to see them again soon and pursue effective dialogue and tangible results.

    The Board has before it for approval a draft Additional Protocol for Saint Vincent and the Grenadines.

    I have made it a priority to strengthen the legal framework for safeguards. Since the last Board meeting in November, Oman, Mongolia, Cyprus, Saint Vincent and the Grenadines and Zambia have amended their original Small Quantities Protocols and Saudi Arabia has rescinded its original SQP. The number of States with safeguards agreements in force remains 191, and 143 of these States have additional protocols in force. I call upon the remaining three States Parties to the Treaty on the Non-Proliferation of Nuclear Weapons without comprehensive safeguards agreements to bring such agreements into force without delay. I also encourage States that have not yet concluded additional protocols to do so as soon as possible, and I reiterate my repeated calls for the remaining 14 States with SQPs based on the original standard text to amend or rescind them as soon as possible. Let me assure you that I will continue to use my good offices to strengthen the indispensable legal framework on which the continued peaceful uses of nuclear science and technology rest.

    The IAEA continues to monitor the Democratic People’s Republic of Korea’s nuclear programme.

    The Agency has observed that the 5MW(e) reactor at Yongbyon resumed operation in mid-October 2024, following a shutdown period of approximately 60 days. This shutdown is assessed to be of sufficient length to refuel the reactor and start its seventh operational cycle. Strong indicators of preparations for a new reprocessing campaign, including the operation of the steam plant serving the Radiochemical Laboratory, have been observed.

    In late-January 2025, the DPRK released photographs of General Secretary Kim Jong Un visiting “the nuclear material production base and the Nuclear Weapons Institute”. The depicted centrifuge cascades and infrastructure are consistent with the layout of a centrifuge enrichment facility and with the structure of the Yongbyon Uranium Enrichment Plant. This development follows the DPRK’s publication in September 2024 of photographs of an undeclared enrichment facility at the Kangson Complex. The undeclared enrichment facilities at both Kangson and Yongbyon, combined with General Secretary Kim’s call for “overfulfilling the plan for producing weapons-grade nuclear materials,” are of serious concern. There are indications that the uranium enrichment plants at Kangson and Yongbyon continue to operate, and there are indications that the light water reactor (LWR) at Yongbyon continues to operate. Additions to the support infrastructure have been observed adjacent to the LWR.

    There were no indications of significant changes at the Nuclear Test Site at Punggye-ri, which remains prepared to support a nuclear test.

    The continuation and further development of the DPRK’s nuclear programme are clear violations of relevant UN Security Council resolutions and are deeply regrettable. I call upon the DPRK to comply fully with its obligations under relevant UN Security Council resolutions, to cooperate promptly with the Agency in the full and effective implementation of its NPT Safeguards Agreement and to resolve all outstanding issues, especially those that have arisen during the absence of Agency inspectors from the country. The Agency continues to maintain its enhanced readiness to play its essential role in verifying the DPRK’s nuclear programme.

    Concerning the safety of the LWR, we lack the necessary information to make an assessment. Safety should always be a paramount consideration when operating a reactor. Nuclear safety is a sovereign responsibility of the State and the IAEA supports the States in this area.

    Following the change of Government in the Syrian Arab Republic towards the end of 2024, I have written to the new Minister of Foreign Affairs and Expatriates. I requested cooperation with the Agency to enable us to fulfill our obligation to verify nuclear material and facilities under Syria’s safeguards agreement. I conveyed the importance of continuing and reinforcing cooperation between Syria and the Agency to address unresolved issues. Clarifying these issues remains essential to Syria demonstrating its commitment to nuclear non-proliferation and international peace and security.

    I hope to be able to engage with the new government soon. Bringing total clarity to the situation regarding past activities in this field in Syria is indispensable to the realization of current efforts to modernize the country and put it on a firm path to peace and development.

    In April and May, the IAEA will participate in the Third Preparatory Meeting for the 2026 Review Conference of the Nuclear Non-Proliferation Treaty (NPT) in New York.

    Madame Chairperson,

    The IAEA’s Marie Sklodowska‑Curie Fellowship Programme has been expanding the talent base for the nuclear field since 2020 with 760 female students and graduates from 121 Member States so far having been supported in studying in 72 countries. In the current, fifth cycle, we selected 200 candidates from 109 countries. I would like to thank Member States that have contributed so far. For this programme to continue accepting new fellowship candidates it urgently needs further support. I ask those who can, to support this endeavor. 

    This year, we have planned three Lise Meitner Programme cohorts, in Argentina, Canada and Japan. They are focused on nuclear power, advanced nuclear technologies and research reactors.

    I am happy to report that we have reached parity, women now make up half the staff in the professional and higher categories. This is up from about 30% when I took office in 2019.

    I thank Member States who have paid their regular budget contributions, including some who paid in advance. It is important that all Member States pay their contributions in a timely manner. This will ensure liquidity of the regular budget throughout the year, allowing the Agency to carry out its activities effectively.

    You recently received for your consideration my proposed programme and budget for the 2026-2027 biennium.

    It has been prepared with due consideration of the constraints of the prevailing financial environment. Despite increasing demands and higher operational costs, I have decided for the third time in a row to propose a zero real growth budget. The proposal maintains balance among the different programmes and emphasises my commitment to ensuring our resources are managed with discipline, efficiency and restraint so that we maximize the impact of the Agency’s work.

    This being our first Board meeting of 2025, I want to conclude by saying that I look forward to making 2025 a successful year in which the IAEA benefits all Member States as we advance our common goals of peace and development.

    MIL OSI NGO

  • MIL-OSI NGOs: IAEA and FAO Conduct First Atoms4Food Assessment Mission to Burkina Faso

    Source: International Atomic Energy Agency (IAEA) –

    The joint IAEA and FAO Assessment Mission team examine new rice varieties during the first Atoms4Food Initiative Assessment Mission in Burkina Faso. (Photo: Victor Owino/IAEA)

    In a critical step toward addressing food insecurity in West Africa, the International Atomic Energy Agency (IAEA) and the Food and Agriculture Organization (FAO) of the United Nations have launched their first joint Atoms4Food Initiative Assessment Mission in Burkina Faso. 

    This mission aims to identify key gaps and opportunities for delivering targeted technical support to Burkina Faso for food and agriculture in a country where an estimated 3.5 million people—nearly 20% of the population—are facing food insecurity. By leveraging nuclear science and technology, Atoms4Food seeks to bolster agricultural resilience and agrifood systems in one of the region’s most vulnerable nations.

    The mission, conducted from 26 May to 1 June, assessed how nuclear and related technologies are being used in Burkina Faso to address challenges in enhancing crop production, improving soil quality and in animal production and health, as well as human nutrition.

    The Atoms4Food Initiative was launched jointly by IAEA and FAO in 2023 to help boost food security and tackle growing hunger around the world. Atoms4Food will support countries to use innovative nuclear techniques such as sterile insect technique and plant mutation breeding to enhance agricultural productivity, ensure food safety, improve nutrition and adapt agrifood systems to the challenges of climate change. Almost €9 million has been pledged by IAEA donor countries and private companies to the initiative so far.

    As part of the Atoms4Food initiative, Assessment Missions are used to evaluate the specific needs and priorities of participating countries and identify critical gaps and opportunities where nuclear science and technology can offer impactful solutions. Based on the findings, tailored and country-specific solutions will be offered.

    Burkina Faso is one of 29 countries who have so far requested to receive support under Atoms4Food, with more expected this year. Alongside Benin, Pakistan, Peru and Türkiye, Burkina Faso was among the first countries to request an Atoms4Food Assessment Mission in 2025.

    A large proportion of Burkina Faso’s population still live in poverty and inequality.  Food insecurity has been compounded by rapid population growth, gender inequality and low levels of educational attainment. In addition, currently, 50% of rice consumed in Burkina Faso is imported. The government aims to achieve food sovereignty by producing sufficient rice domestically to reduce reliance on imports.

    “Hunger and malnutrition are on the rise globally, and Burkina Faso is particularly vulnerable to this growing challenge,” said IAEA Director General Rafael Mariano Grossi. “This first Atoms4Food assessment mission marks a significant milestone in our collective efforts to harness the power of nuclear science to enhance food security. As the Atoms4Food Initiative expands worldwide, we are committed to delivering tangible, sustainable solutions to reduce hunger and malnutrition.”

    The mission was conducted by a team of ten international experts in the areas of crop production, soil and water management, animal production and health and human nutrition. During the mission, the team held high-level meetings with the Burkina Faso Ministries of Agriculture, Health and Environment and conducted site visits to laboratories including the animal health laboratory and crop breeding facility at the Institute of Environment and Agricultural Research, the crop genetics and nutrition laboratories at the University Joseph Ki-Zerbo, and the bull station of the Ministry of Agriculture in Loumbila.

    “The Government of Burkina Faso is striving to achieve food security and sovereignty, to supply the country’s population with sufficient, affordable, nutritious and safe food, while strengthening the sustainability of the agrifood systems value-chain,” said Dongxin Feng, Director of the Joint FAO/IAEA Centre for Nuclear Techniques in Food and Agriculture and head of the mission to Burkina Faso. “Though much needs to be done, our mission found strong dedication and commitment from the Government in developing climate-resilient strategies for crops, such as rice, potato, sorghum and mango, strengthening sustainable livestock production of cattle, small ruminants and local poultry, as well as reducing malnutrition among infants and children, while considering the linkages with food safety.”

    The Assessment Mission will deliver an integrated Assessment Report with concrete recommendations on areas for intervention under the Atoms4Food Initiative. This will help develop a National Action Plan in order to scale up the joint efforts made by the two organizations in the past decades, which will include expanding partnership and resource mobilization. “Our priority now is to deliver a concrete mission report with actionable recommendations that will support the development of the National Action Plan aimed at improving the country’s long term food security,” Feng added.

    MIL OSI NGO

  • MIL-OSI Banking: Your Privacy, Secured: How Galaxy AI Protects Privacy with Samsung Knox Vault

    Source: Samsung

     
    Galaxy AI is built to understand what you need before you even ask, whether that’s suggesting a change in your routine or pulling up just the right information at the right time.
     
    This level of personalization can be incredibly helpful, but the more your phone knows, the more there is to protect. So, what’s keeping all that personal data secure?
     
    Samsung believes there is no privacy without strong security. That’s why every Galaxy device is protected from the chip up by a multi-layered approach, which includes on-device personalization, user-controlled cloud processing, and ecosystem-wide protection through Samsung Knox Matrix.
     
    At the core of this system is Samsung Knox Vault, the company’s hardware-based solution for safeguarding your most sensitive information.
     
    Secured at the Hardware Level
    Most mobile devices rely solely on software to protect sensitive data. Galaxy devices go further.
     
    Knox Vault is a hardware-level security solution that creates a physical barrier between your most private information and everything else. It works like a locked room inside your phone, with its own processor and memory to encrypt sensitive data, with Knox Vault securing the keys. It pairs a secure processor with dedicated memory, isolating your passwords, PINs, biometrics, as well as financial information and cryptographic keys. These are the kinds of details you don’t want anyone else to access, and Knox Vault is built to make sure they stay private. You don’t need to activate or manage it, as it’s always on, working silently in the background, keeping your data safe while you get on with your day.
     
    This is particularly crucial in the age of AI as user concerns are expanding from traditional cybersecurity threats, like viruses and malware, to worries over leaking personal data, such as conversations with your AI assistant. And as AI becomes part of more everyday tasks, the types of data that need protection are also expanding.
     
    For example, metadata from your most personal photos not only details the resolution and file format but also shows the exact location where the image was taken. This personal metadata is more than just files — it’s information that is deeply connected to your daily life. And in the era of AI, these types of data used to provide personalized suggestions needs to be kept private.
     
    Knox Vault helps mitigate these growing concerns by safely storing personal information in a secure, hardware-isolated environment designed to block both physical tampering and remote attacks, ensuring your data can’t be accessed without approval.
     
    Personalized AI, Protected at the Core
    Knox Vault not only provides protection for today’s threats, it also ensures your privacy as mobile experiences continue to evolve.
     
    As Galaxy AI becomes more useful, it also becomes more personal, learning how you use your device and adapting to your needs. And because these highly tailored AI experiences rely on deeply personal data, Knox Vault plays a crucial role in keeping that information private and secured.
     
    Galaxy AI ensures privacy by processing tasks directly on-device where possible, keeping data in your hands and off online servers. For example, Audio Eraser, removes background noise from videos or voice recordings without the need for any cloud-based processing — so your personal information stays private. Call Transcript operates in the same way, keeping your calls organized while ensuring personal conversations stay private by remaining on-device.
     
    Knox Vault ensures your data is protected, confidential, and secure. Building on its role in Galaxy AI as the trusted foundation for security and privacy, Knox Vault will expand across Samsung’s growing AI ecosystem as AI becomes more deeply integrated into the user experience.
     
    Knox Vault is more than a security feature, it’s Galaxy’s promise that no matter how advanced your devices become, or how much AI evolves, your privacy is secured.
     
     
     
    [1] Results may vary per video depending on sounds present in the video. Samsung Account login required. Certain types of sound can be detected such as voices, music, wind, nature, crowd and noise. The actual sound detection may vary depending on audio source, and the condition of the video. Accuracy of results is not guaranteed.
    [1] Call Transcript feature requires Samsung Account login. Call recording may not be supported in some countries. Currently available on pre-installed Samsung phones and Voice Record app. Service availability may vary by language or region. Certain languages may require language pack download. Accuracy of results is not guaranteed.

    MIL OSI Global Banks

  • MIL-OSI Banking: Rooted in Values, Ready for Impact: New Joinees Reflect on Life at Samsung

    Source: Samsung

    The latest cohort of new joiners includes professionals from across geographies, each with diverse industry backgrounds
     
    At Samsung, the journey of building the future begins the moment you walk through our doors. Each new team member who joins us brings with them a story of where they’ve been, what they’ve achieved, and the aspirations they carry forward. The New Hires Course (NHC) isn’t just an onboarding program, it’s a window into Samsung’s unique culture, values, and purpose. It sets the tone for a career that’s not just about work, but about shaping what’s next in technology and human progress.
     
    The latest cohort of new joiners includes professionals from across India and Nepal, each with diverse industry backgrounds — from finance and procurement to sales, supply chain, and brand building. As they step into Samsung, they find a place where their experiences are not only welcomed but woven into the larger tapestry of innovation.
     
    The New Hires Course isn’t just an onboarding program, it’s a window into Samsung’s unique, vibrant and inclusive culture
     
    A Culture That Feels Like Home
    Soyeon Joo, who recently joined the Sales and SCM Logistics team in Nepal, reflects on her first few days:
     
    “From the very first day, Samsung struck me as both energetic and welcoming. My colleagues were incredibly supportive — walking me through each process, answering questions, and making me feel at home. Their warmth helped me become productive faster than I expected.”
     
    She believes her multicultural perspective — shaped across Mexico, South Korea, and Nepal — will help bridge linguistic and cultural gaps between HQ and local operations. “I want to drive fresh ideas that resonate with diverse markets,” she said.
     
    This sense of inclusivity and global connection is what many new employees notice early on — a clear emphasis on people, growth, and purpose. For Roshan Acharya, who joins the SCM operations team from a business analysis background, Samsung’s culture of discipline and innovation stood out. “It’s a company with a top global presence — well-organized, efficient, and dynamic.”
     
    Bringing Experience to a Global Platform
    Many of the new hires come with over a decade of experience in leadership roles, and they see Samsung as a platform to make an even bigger impact. Manisha Luitel, who recently joined the finance function, speaks of the company as a “system-driven multinational with clear execution standards,” yet open to innovation.
     
    “I hope to add value by bringing in a strong accounting and manufacturing outlook,” she says. “With the right processes and controls, we can elevate the way we work.”
     
    For Shishir Aryal, who’s spent 10 years in procurement for Nepal’s manufacturing sector, Samsung is an opportunity to bring tested skills to a new, dynamic landscape. “I come from a completely different setup, and I’m excited to apply my learnings in line with Samsung’s global principles,” he says. “Being welcomed so warmly by HR and the team has made this transition smooth and exciting.”
     
    Aspirations That Align with Samsung’s Vision
    Samsung has always been driven by the ambition to lead — in technology, sustainability, and in how we build our teams. That means hiring individuals who are not only experts in their domain but also eager to learn and evolve.
     
    Take Ranjit Khadka, whose role in Finance includes Compliance, Treasury, and IT. He brings a deep understanding of SKU costing and wants to dive deeper into treasury functions. “I believe Samsung is the right place to innovate while being rooted in sound financial systems,” he said.
     
    Or Soyeon, who looks forward to being the cultural bridge in a multilingual, cross-functional team. Or Roshan, who wants to explore AI-driven data analysis tools and help drive planning-execution integration through data.
     
    And then there’s a spark of passion that ties all of them together — whether it’s Roshan playing table tennis, Manisha reading quietly, or Shishir engaging in adventure sports with his child. At Samsung, we believe in the whole person — not just the employee.
     
    Where Growth Meets Purpose
    Samsung’s New Hires Course doesn’t just teach the rules of the game — it helps new team members feel seen, supported, and part of something larger. It’s where cross-functional collaboration begins. It’s where ideas start to move, not in silos, but in sync.
     
    As one of the new joinees put it:
     
    “Joining Samsung felt dynamic and challenging, with a strong focus on innovation. The work environment is fast-paced and collaborative, with clear emphasis on employee development. You truly feel like part of something visionary.”
     
    At Samsung, every story matters. And with each new hire, that story only gets richer.

    MIL OSI Global Banks

  • MIL-OSI Asia-Pac: FS attends Lujiazui Forum

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan attended the 2025 Lujiazui Forum in Shanghai today and witnessed the signing of the Action Plan for Collaborative Development of Shanghai & Hong Kong International Financial Centres.

     

    Mr Chan, as one of the key guests, took part in the forum’s opening ceremony and morning plenary session. 

     

    Themed “Financial Opening-Up & Cooperation for High-Quality Development in a Changing Global Economy”, the forum was jointly organised by the Shanghai Municipal Government, the People’s Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission.

     

    Government officials, financial regulators, industry leaders, renowned think tanks and scholars from multiple countries participated in the forum to discuss topics such as global monetary policy, capital market development, financial technology and innovation, and inclusive finance.

     

    Before the opening ceremony, Mr Chan and Shanghai Municipal People’s Government Executive Vice Mayor Wu Wei jointly witnessed the signing of the action plan.

     

    It was signed by Secretary for Financial Services & the Treasury Christopher Hui and Shanghai Office for Advancing International Financial Center Development Director-General Zhou Xiaoquan, who is also Shanghai Municipal Financial Regulatory Bureau Director.

     

    The action plan covers six areas with a total of 38 measures, including deepening the interconnectivity between Mainland and Hong Kong financial markets, enhancing the linkage and co-operation of the two places’ capital markets, supporting eligible Shanghai enterprises to list and raise funds in Hong Kong, and strengthening collaboration in areas such as commodity trading, reinsurance, green finance and fintech.

     

    The plan aims to further leverage the financial opening up, development and risk management advantages of the two cities, enhance cross-boundary and offshore financial co-operation, and promote the co-ordinated development of the two international financial centres.

     

    In his speech at the ceremony, Mr Chan explained that the action plan further specifies the directions of co-operation between Hong Kong and Shanghai, thereby injecting new and richer content into multi-level and multi-field financial collaboration.

     

    Furthermore, he noted that it includes new measures to deepen financial interconnectivity, highlights support for Mainland enterprises to go global, and promotes standard alignment and financial innovation.

     

    Mr Chan added that with strong support from the country, Hong Kong and Shanghai will join forces to create greater synergy and collaborative benefits, thus making greater contributions to the country’s development as a financial powerhouse.

     

    Upon arriving in Shanghai yesterday, the Financial Secretary attended an international exchange dinner hosted by the China Finance 40 Forum where he shared how Hong Kong is striving to promote high-quality financial development amid global political and economic changes.

     

    Mr Chan departed for Hong Kong around noon today.

    MIL OSI Asia Pacific News

  • MIL-OSI: Prosafe SE: Safe Notos awarded contract with Petrobras

    Source: GlobeNewswire (MIL-OSI)

    18 June 2025 – Reference is made to the press release dated 12 May 2025, Prosafe has now been informed that Petróleo Brasileiro SA (‘Petrobras’) have ratified the result of the bidding process for the provision of the Safe Notos semi-submersible vessel for safety and maintenance support offshore Brazil. As a result, the contract with a total value of approximately USD 204 million and four year duration commencing in September 2026 will be entered into without delay. 

    Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.

    For further information, please contact:

    Terje Askvig, CEO
    Phone: +47 952 03 886

    Reese McNeel, CFO
    Phone: +47 415 08 186

    This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Line Bliksmark, Marketing and Communications Manager, on 18 June 2025, at approx. 10:35 CEST.

    The MIL Network

  • MIL-OSI: IG Drones (India) and VoxelSensors (Belgium) Forge Global Partnership to Advance Civilian Drone Capabilities for Industrial and Emergency Use

    Source: GlobeNewswire (MIL-OSI)

    BRUSSELS, June 18, 2025 (GLOBE NEWSWIRE) — IG Drones, a leading Indian drone technology company, has announced a strategic collaboration with Belgian deep tech pioneer VoxelSensors to integrate next-generation 3D perception systems into its UAV platforms. This partnership is set to transform how drones navigate and operate in GPS-denied and visually complex environments, such as dense forests, urban infrastructure zones, tunnels, and industrial interiors.

    At the heart of this partnership lies the integration of VoxelSensors’ SPAES™ (Single Photon Active Event Sensor) technology — renowned for its ultra-low latency and high-precision spatial sensing — with IG Drones fleet of intelligent unmanned aerial vehicles. The result is a new generation of drones with advanced environmental awareness, enhanced obstacle avoidance, and higher-fidelity mapping capabilities for infrastructure inspection, emergency response, environmental monitoring, and smart city applications.

    Mr Paneerselvam Madanagopal, CEO, Ministry of Electronics and Information Technology (MeitY), Government of India, welcomed the announcement, stating, “This partnership between IG Drones and VoxelSensors marks a significant step forward in the evolution of autonomous aerial technology. By combining India’s deep-rooted commitment to scalable drone solutions with VoxelSensors’ cutting-edge 3D spatial intelligence, we are witnessing the kind of global cooperation that advances innovation in a responsible, civilian-first manner. MeitY supports such collaborations that not only strengthen India’s digital and industrial capabilities but also foster meaningful international partnerships aligned with sustainable and high-impact technological progress.”

    “This collaboration truly marks a new chapter for us,” said Mr Sambit Parida, Chief Technology Officer at IG Drones. “By embedding VoxelSensors’ breakthrough 3D sensing technologies into our systems, we’re enabling smarter, safer, and more autonomous drone operations. These capabilities are vital for civilian missions where situational complexity and safety demand real-time perception and adaptive decision-making. We remain committed to our vision of delivering cutting-edge, indigenous drone technologies aligned with India’s broader digital and infrastructure goals.”

    The partnership comes at a time when IG Drones is expanding rapidly, with over 200 drones deployed in FY25, a 330% jump in revenue, and the rollout of 50 Drone Centres of Excellence in collaboration with AICTE across India. As the demand for intelligent drone systems increases across sectors — from disaster management to industrial inspection — IG Drones is positioning itself to meet the challenge through global technology collaborations that fuse precision with performance.

    Mr Andre Miodezky, President of VoxelSensors, also commented on the partnership: “We’re excited to join forces with IG Drones to bring our sensing innovation into practical, high-impact use cases. Our SPAES technology provides real-time depth perception and motion awareness that empowers UAVs to function reliably, even in visually complex and dynamic environments. This partnership bridges European innovation with India’s drone ecosystem, and together we’re helping shape the future of aerial intelligence.”

    Both companies share a commitment to sustainability, safety, and scalability in autonomous systems. By combining VoxelSensors advanced 3D sensor suite with IG Drones’ versatile drone platforms, the collaboration aims to redefine operational efficiency in industries such as energy, infrastructure, urban planning, environmental conservation, and public safety.

    This strategic alliance underscores IG Drones ongoing journey to become a global leader in unmanned aerial solutions — while reaffirming that innovation, when grounded in collaboration, can push the boundaries of what’s possible across borders and industries.

    About IG Drones:
    IG Drones is a deep-tech company building intelligent aerial systems powered by AI, autonomy, and real-time data. Our mission is to deliver scalable drone technologies that bridge physical environments with digital intelligence — enabling faster decisions, greater efficiency, and smarter insights across critical sectors. Through innovation in machine learning, sensor fusion, and edge computing, we make next-gen aerial intelligence more accessible, adaptive, and human-centric.

    For Press Information contact:
    Email: contact@igdrones.com; sambit@igdrones.com
    Website: https://www.igdrones.com/
    LinkedIn: https://www.linkedin.com/company/igdrones

    About VoxelSensors:
    VoxelSensors is a Belgian deep-tech startup committed to developing advanced sensing technologies that enhance human-centered contextual interaction. With a focus on efficiency and scalability, we aim to empower AI with the necessary contextual data for smarter and more personal insights.

    For Press Information contact:
    Karina Kovalenko – Marketing and Communications Manager
    Email: press@voxelsensors.com
    Website: https://voxelsensors.com/
    LinkedIn: https://www.linkedin.com/company/voxelsensors

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3dd4a0ea-2dfc-4b17-8ec5-aef4051d36f0

    The MIL Network

  • MIL-OSI: Bitdeer Announces Pricing of Upsized US$330.0 Million Convertible Senior Notes Offering

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, June 18, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (Nasdaq: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for Bitcoin mining, today announced the pricing of US$330.0 million principal amount of 4.875% Convertible Senior Notes due 2031 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company has also granted the initial purchasers of the notes an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional US$45.0 million principal amount of the notes. The size of the offering was increased from the previously announced $300.0 million aggregate principal amount of notes. The sale of the notes is expected to close on June 23, 2025, subject to customary closing conditions.

    Additional Details of the Convertible Notes

    The notes will be general, senior unsecured obligations of the Company and will bear interest at a rate of 4.875% per year, payable semiannually in arrears on January 1 and July 1 of each year, beginning on January 1, 2026. The notes will mature on July 1, 2031, unless earlier converted, redeemed or repurchased. Upon conversion, the Company will pay or deliver, as the case may be, cash, Class A ordinary shares par value US$0.0000001 per share, of the Company (the “Class A ordinary shares”) or a combination of cash and Class A ordinary shares, at its election. The initial conversion rate of the notes will be 62.9921 Class A ordinary shares per US$1,000 principal amount of such notes (equivalent to an initial conversion price of approximately US$15.88 per Class A ordinary share). The initial conversion price of the notes represents a premium of approximately 25.0% over the last reported sale price of the Class A ordinary shares on the Nasdaq Capital Market on June 17, 2025.

    The Company may redeem for cash all or any portion of the notes (subject to certain limitations), at its option, on or after July 6, 2028 and prior to the 41st scheduled trading day immediately preceding the maturity date, if (i) the last reported sale price of the Class A ordinary shares has been at least 140% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption and (ii) certain liquidity conditions have been satisfied, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company redeems less than all of the outstanding notes, at least US$75.0 million aggregate principal amount of notes must be outstanding and not called for optional redemption as of the time the Company sends the related notice of redemption, and after giving effect to the delivery of such notice of redemption.

    In addition, the Company may redeem for cash all but not part of the notes at any time prior to the 41st scheduled trading day immediately preceding the maturity date if less than US$25.0 million aggregate principal amount of notes remains outstanding at such time, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The Company may also redeem for cash all but not part of the notes in the event of certain tax law changes at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date and any additional amounts which would otherwise be payable to such redemption date with respect to such redemption price, as described in the indenture that will govern the notes.

    On July 6, 2029 and if the Company undergoes a “fundamental change” (as defined in the indenture that will govern the notes), subject to certain conditions and a limited exception, holders may require the Company to repurchase for cash all or any portion of their notes at a repurchase price or fundamental change repurchase price, as applicable, equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the relevant repurchase date. In addition, following certain corporate events that occur prior to the maturity date of the notes or following the Company’s delivery of a notice of redemption, the Company will, in certain circumstances, increase the conversion rate of the notes for a holder who elects to convert its notes in connection with such a corporate event or convert their notes called (or deemed called) for redemption in connection with such notice of redemption, as the case may be.

    Use of Proceeds

    The Company estimates that the net proceeds from the offering will be approximately US$319.6 million (or approximately US$363.3 million if the initial purchasers exercise their option to purchase additional notes in full), after deducting the initial purchasers’ discounts and estimated offering expenses payable by the Company. The Company intends to use: (i) approximately US$129.6 million of the net proceeds from the offering to pay the cost of the zero-strike call option transaction described below; (ii) approximately $36.1 million of the net proceeds from the offering to pay the cash consideration for the concurrent note exchange transactions that it has entered into as described below; and (iii) the remaining net proceeds from the offering for datacenter expansion, ASIC based mining rig development and manufacture, as well as working capital and other general corporate purposes. If the initial purchasers exercise their option to purchase additional notes, the Company expects to use the net proceeds from the sale of the additional notes for datacenter expansion, ASIC based mining rig development and manufacture, as well as working capital and other general corporate purposes as described above.

    Zero-Strike Call Option Transaction

    In connection with the pricing of the notes, the Company entered into a privately negotiated zero-strike call option transaction with an affiliate of one of the initial purchasers (the “option counterparty”) and, having an expiration date that is scheduled to occur shortly after the maturity date of the notes. Pursuant to the zero-strike call option transaction, the Company will pay a premium equal to approximately US$129.6 million for the right to receive, without further payment, approximately 10.2 million Class A ordinary shares (subject to customary adjustment), with delivery thereof by the option counterparty at expiry, subject to early settlement of the zero-strike call option transaction in whole or in part at the option counterparty’s discretion. In the case of settlement at expiration or upon any early settlement, the option counterparty will deliver to the Company the number of Class A ordinary shares underlying the zero-strike call option transaction or the portion thereof being settled early. The zero-strike call option transaction is intended to facilitate privately negotiated derivative transactions with respect to the Class A ordinary shares between the option counterparty (or its affiliate) and certain investors in the notes by which those investors will be able to hedge their investment in the notes. Those activities, which are expected to occur concurrently with or shortly after the pricing of the offering, could increase (or reduce the size of any decrease in) the market price of the Class A ordinary shares and/or the notes at that time.

    The option counterparty (or its affiliate) may modify its hedge positions by entering into or unwinding derivative transactions with respect to the Class A ordinary shares and/or purchasing or selling Class A ordinary shares or other securities of the Company in secondary market transactions at any time following the pricing of the notes and shortly before or after the expiry or early settlement of the zero-strike call option transaction, and, the Company has been advised that the option counterparty may unwind its derivative transactions and/or purchase or sell the Class A ordinary shares in connection with the expiry of the zero-strike call option transaction or any early settlement of the zero-strike call option transaction at the option counterparty’s discretion, including any early settlement relating to any conversion, repurchase or redemption of the notes. Those activities could also increase (or reduce the size of any decrease in) or decrease (or reduce the size of any increase in) the market price of the Class A ordinary shares and/or the notes.

    If the zero-strike call option transaction fails to become effective, whether or not the offering is completed, the option counterparty may unwind its hedge positions with respect to the Class A ordinary shares, which could adversely affect the market price of the Class A ordinary shares and, if the notes have been issued, the market price of the notes.

    Concurrent Note Exchange Transaction

    Concurrently with the pricing of the notes in the offering, the Company entered into privately negotiated transactions with certain holders of its 8.50% convertible senior notes due 2029 (the “August 2029 notes”) to exchange for approximately US$36.1 million in cash and approximately 8.1 million Class A ordinary shares, approximately US$75.7 million aggregate principal amount of its August 2029 notes, on terms negotiated with such holders (each, a “note exchange transaction”). This press release is not an offer to exchange the August 2029 notes, and the offering of the notes is not contingent upon the exchange of the August 2029 notes.

    In connection with any note exchange transaction, the Company expects that holders of the August 2029 notes that are repurchased by the Company as described above and who have hedged their equity price risk with respect to such notes (the “hedged holders”) will unwind all or part of their hedge positions by buying the Class A ordinary shares and/or entering into or unwinding various derivative transactions with respect to the Class A ordinary shares. The amount of the Class A ordinary shares to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historical average daily trading volume of the Class A ordinary shares. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of the Class A ordinary shares. The Company cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or the Class A ordinary shares.

    The notes and any Class A ordinary shares issuable upon conversion of the notes have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

    This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.

    About Bitdeer Technologies Group

    Bitdeer is a world-leading technology company for Bitcoin mining. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among others, statements relating to Bitdeer’s expectations regarding the completion of the offering and the note exchange transactions and the expected use of proceeds from the sale of the notes and potential impact of the offering, the note exchange transactions, the zero-strike call option transaction each as described above or related transactions on the market price of the Class A ordinary shares or the trading price of the notes. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks and uncertainties associated with market conditions and the satisfaction of closing conditions related to the offering and the note exchange transactions, as well as discussions of potential risks, uncertainties and other factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as those discussed in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond Bitdeer’s control. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

    For investor and media inquiries, please contact:

    Investor Relations
    Orange Group
    Yujia Zhai
    bitdeerir@orangegroupadvisors.com

    Public Relations
    BlocksBridge Consulting
    Nishant Sharma
    bitdeer@blocksbridge.com

    The MIL Network

  • MIL-OSI: Bitdeer Announces Pricing of Upsized US$330.0 Million Convertible Senior Notes Offering

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, June 18, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (Nasdaq: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for Bitcoin mining, today announced the pricing of US$330.0 million principal amount of 4.875% Convertible Senior Notes due 2031 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company has also granted the initial purchasers of the notes an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional US$45.0 million principal amount of the notes. The size of the offering was increased from the previously announced $300.0 million aggregate principal amount of notes. The sale of the notes is expected to close on June 23, 2025, subject to customary closing conditions.

    Additional Details of the Convertible Notes

    The notes will be general, senior unsecured obligations of the Company and will bear interest at a rate of 4.875% per year, payable semiannually in arrears on January 1 and July 1 of each year, beginning on January 1, 2026. The notes will mature on July 1, 2031, unless earlier converted, redeemed or repurchased. Upon conversion, the Company will pay or deliver, as the case may be, cash, Class A ordinary shares par value US$0.0000001 per share, of the Company (the “Class A ordinary shares”) or a combination of cash and Class A ordinary shares, at its election. The initial conversion rate of the notes will be 62.9921 Class A ordinary shares per US$1,000 principal amount of such notes (equivalent to an initial conversion price of approximately US$15.88 per Class A ordinary share). The initial conversion price of the notes represents a premium of approximately 25.0% over the last reported sale price of the Class A ordinary shares on the Nasdaq Capital Market on June 17, 2025.

    The Company may redeem for cash all or any portion of the notes (subject to certain limitations), at its option, on or after July 6, 2028 and prior to the 41st scheduled trading day immediately preceding the maturity date, if (i) the last reported sale price of the Class A ordinary shares has been at least 140% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption and (ii) certain liquidity conditions have been satisfied, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company redeems less than all of the outstanding notes, at least US$75.0 million aggregate principal amount of notes must be outstanding and not called for optional redemption as of the time the Company sends the related notice of redemption, and after giving effect to the delivery of such notice of redemption.

    In addition, the Company may redeem for cash all but not part of the notes at any time prior to the 41st scheduled trading day immediately preceding the maturity date if less than US$25.0 million aggregate principal amount of notes remains outstanding at such time, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The Company may also redeem for cash all but not part of the notes in the event of certain tax law changes at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date and any additional amounts which would otherwise be payable to such redemption date with respect to such redemption price, as described in the indenture that will govern the notes.

    On July 6, 2029 and if the Company undergoes a “fundamental change” (as defined in the indenture that will govern the notes), subject to certain conditions and a limited exception, holders may require the Company to repurchase for cash all or any portion of their notes at a repurchase price or fundamental change repurchase price, as applicable, equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the relevant repurchase date. In addition, following certain corporate events that occur prior to the maturity date of the notes or following the Company’s delivery of a notice of redemption, the Company will, in certain circumstances, increase the conversion rate of the notes for a holder who elects to convert its notes in connection with such a corporate event or convert their notes called (or deemed called) for redemption in connection with such notice of redemption, as the case may be.

    Use of Proceeds

    The Company estimates that the net proceeds from the offering will be approximately US$319.6 million (or approximately US$363.3 million if the initial purchasers exercise their option to purchase additional notes in full), after deducting the initial purchasers’ discounts and estimated offering expenses payable by the Company. The Company intends to use: (i) approximately US$129.6 million of the net proceeds from the offering to pay the cost of the zero-strike call option transaction described below; (ii) approximately $36.1 million of the net proceeds from the offering to pay the cash consideration for the concurrent note exchange transactions that it has entered into as described below; and (iii) the remaining net proceeds from the offering for datacenter expansion, ASIC based mining rig development and manufacture, as well as working capital and other general corporate purposes. If the initial purchasers exercise their option to purchase additional notes, the Company expects to use the net proceeds from the sale of the additional notes for datacenter expansion, ASIC based mining rig development and manufacture, as well as working capital and other general corporate purposes as described above.

    Zero-Strike Call Option Transaction

    In connection with the pricing of the notes, the Company entered into a privately negotiated zero-strike call option transaction with an affiliate of one of the initial purchasers (the “option counterparty”) and, having an expiration date that is scheduled to occur shortly after the maturity date of the notes. Pursuant to the zero-strike call option transaction, the Company will pay a premium equal to approximately US$129.6 million for the right to receive, without further payment, approximately 10.2 million Class A ordinary shares (subject to customary adjustment), with delivery thereof by the option counterparty at expiry, subject to early settlement of the zero-strike call option transaction in whole or in part at the option counterparty’s discretion. In the case of settlement at expiration or upon any early settlement, the option counterparty will deliver to the Company the number of Class A ordinary shares underlying the zero-strike call option transaction or the portion thereof being settled early. The zero-strike call option transaction is intended to facilitate privately negotiated derivative transactions with respect to the Class A ordinary shares between the option counterparty (or its affiliate) and certain investors in the notes by which those investors will be able to hedge their investment in the notes. Those activities, which are expected to occur concurrently with or shortly after the pricing of the offering, could increase (or reduce the size of any decrease in) the market price of the Class A ordinary shares and/or the notes at that time.

    The option counterparty (or its affiliate) may modify its hedge positions by entering into or unwinding derivative transactions with respect to the Class A ordinary shares and/or purchasing or selling Class A ordinary shares or other securities of the Company in secondary market transactions at any time following the pricing of the notes and shortly before or after the expiry or early settlement of the zero-strike call option transaction, and, the Company has been advised that the option counterparty may unwind its derivative transactions and/or purchase or sell the Class A ordinary shares in connection with the expiry of the zero-strike call option transaction or any early settlement of the zero-strike call option transaction at the option counterparty’s discretion, including any early settlement relating to any conversion, repurchase or redemption of the notes. Those activities could also increase (or reduce the size of any decrease in) or decrease (or reduce the size of any increase in) the market price of the Class A ordinary shares and/or the notes.

    If the zero-strike call option transaction fails to become effective, whether or not the offering is completed, the option counterparty may unwind its hedge positions with respect to the Class A ordinary shares, which could adversely affect the market price of the Class A ordinary shares and, if the notes have been issued, the market price of the notes.

    Concurrent Note Exchange Transaction

    Concurrently with the pricing of the notes in the offering, the Company entered into privately negotiated transactions with certain holders of its 8.50% convertible senior notes due 2029 (the “August 2029 notes”) to exchange for approximately US$36.1 million in cash and approximately 8.1 million Class A ordinary shares, approximately US$75.7 million aggregate principal amount of its August 2029 notes, on terms negotiated with such holders (each, a “note exchange transaction”). This press release is not an offer to exchange the August 2029 notes, and the offering of the notes is not contingent upon the exchange of the August 2029 notes.

    In connection with any note exchange transaction, the Company expects that holders of the August 2029 notes that are repurchased by the Company as described above and who have hedged their equity price risk with respect to such notes (the “hedged holders”) will unwind all or part of their hedge positions by buying the Class A ordinary shares and/or entering into or unwinding various derivative transactions with respect to the Class A ordinary shares. The amount of the Class A ordinary shares to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historical average daily trading volume of the Class A ordinary shares. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of the Class A ordinary shares. The Company cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or the Class A ordinary shares.

    The notes and any Class A ordinary shares issuable upon conversion of the notes have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

    This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.

    About Bitdeer Technologies Group

    Bitdeer is a world-leading technology company for Bitcoin mining. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among others, statements relating to Bitdeer’s expectations regarding the completion of the offering and the note exchange transactions and the expected use of proceeds from the sale of the notes and potential impact of the offering, the note exchange transactions, the zero-strike call option transaction each as described above or related transactions on the market price of the Class A ordinary shares or the trading price of the notes. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks and uncertainties associated with market conditions and the satisfaction of closing conditions related to the offering and the note exchange transactions, as well as discussions of potential risks, uncertainties and other factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as those discussed in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond Bitdeer’s control. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

    For investor and media inquiries, please contact:

    Investor Relations
    Orange Group
    Yujia Zhai
    bitdeerir@orangegroupadvisors.com

    Public Relations
    BlocksBridge Consulting
    Nishant Sharma
    bitdeer@blocksbridge.com

    The MIL Network

  • MIL-OSI: Barnwell Announces Third Adjournment of 2025 Annual Meeting Due to Ned Sherwood’s Continued Refusal to Submit Votes Solicited from Shareholders

    Source: GlobeNewswire (MIL-OSI)

    HONOLULU, June 18, 2025 (GLOBE NEWSWIRE) — Barnwell Industries, Inc. (NYSE American: BRN) (“Barnwell” or the “Company”) today announced that its 2025 Annual Meeting of Shareholders, which reconvened yesterday, has been adjourned to Wednesday, September 3, 2025. Shareholders of record at the close of business on July 21, 2025 are eligible to vote at the adjourned 2025 Annual Meeting.

    Shareholders are encouraged to vote on the WHITE proxy card FOR: Kenneth S. Grossman, Joshua S. Horowitz, Craig D. Hopkins and Philip J. McPherson. Any shareholder who has voted on the Sherwood Group’s green proxy card can change their vote and contribute to the quorum by voting on the WHITE proxy card for ALL of Barnwell’s director nominees. Shareholders who previously voted on the WHITE proxy card as shareholders of record on the original record date of April 14, 2025, and continue to be shareholders of record on July 21, 2025, do not need to take further action as Barnwell’s nominees are unchanged.

    Kenneth Grossman, Vice Chairman of Barnwell’s Board of Directors, commented, “The Barnwell Board is optimistic about the future of the Company and the ability of our assets to drive value for shareholders. However, Barnwell’s value potential continues to be limited by Ned Sherwood’s self-serving, obstructionist actions that are thwarting our ability to conclude the Company’s 2025 Annual Meeting and move on from this waste of time and resources. The Company plans to actively solicit shareholders in the ensuing months to seek to obtain a quorum so that Barnwell can proceed with conducting its 2025 Annual Meeting in an orderly fashion.”

    This is the third adjournment necessitated by the refusal of Ned Sherwood and his affiliates (collectively, the “Sherwood Group”) to submit the proxies they actively solicited from Barnwell shareholders. By refusing to turn in the green proxy cards, Mr. Sherwood is holding hostage the votes of shareholders, including those shareholders who voted for the Company’s candidates on the Sherwood Group’s universal green proxy card. Accordingly, the Annual Meeting has again been adjourned to seek a quorum and prevent the continued expense of a long-term extension of the Annual Meeting process.

    Shareholders of record as of the new record date will receive an amended notice of the adjourned meeting, as well as updated proxy materials from the Company for the adjourned 2025 Annual Meeting shortly following the record date.

    The 2025 Annual Meeting will continue to be uncontested and the adjournment of the 2025 Annual Meeting will not reopen the nomination window for the election of directors under the Company’s bylaws.

    Shareholders should be reminded that:

    • It is not too late to vote and only the latest card voted counts
    • Shareholders should vote on the WHITE proxy card for ALL of the Barnwell nominees and disregard the Sherwood Group’s green proxy cards
    • Shareholders who voted on the Sherwood Group’s green proxy card can change their vote and contribute to the quorum by voting on the WHITE proxy card

    The adjourned 2025 Annual Meeting will take place on Wednesday, September 3, 2025, at 9:00 a.m. HST at Suite 210, Alakea Corporate Tower, 1100 Alakea Street, Honolulu, Hawaii.

    If you have any questions or need assistance voting the WHITE
    proxy card, please contact our proxy solicitor:

    Okapi Partners at (877) 869-0171 or by email at
    info@okapipartners.com

    Forward-Looking Statements

    Certain information contained in this press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current beliefs and expectations of our board and management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, include various estimates, forecasts, projections of Barnwell’s future performance and statements of Barnwell’s plans and objectives. Forward-looking statements include phrases such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates,” “assumes,” “projects,” “may,” “will,” “will be,” “should,” or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Any or all of the forward-looking statements may turn out to be incorrect or be affected by inaccurate assumptions Barnwell might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including our ability to defend against any potential claims by the Sherwood Group, our ability to execute on our strategy and business plan, our ability to successfully solicit votes on the Company’s white proxy card for the 2025 Annual Meeting and the other risks forth in the “Forward-Looking Statements,” “Risk Factors” and other sections of Barnwell’s Annual Report on Form 10-K (as amended) for the fiscal year ended September 30, 2024, Quarterly Report on Form 10-Q for the fiscal quarters ended March 31, 2025 and December 31, 2024 and Barnwell’s other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.

    CONTACTS:        
    Bruce Goldfarb / Chuck Garske
    (212) 297-0720
    Email: info@okapipartners.com
            
    Kenneth S. Grossman
    Vice Chairman of the Board of Directors
    Email: kensgrossman@gmail.com                      

    The MIL Network

  • MIL-OSI: TMD Energy Limited Enters into Strategic Memorandum of Agreement to Advance Green Bioenergy Collaboration

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, MALAYSIA, June 18, 2025 (GLOBE NEWSWIRE) — TMD Energy Limited (the “Company” or “TMDEL”) (NYSE American: TMDE), together with its subsidiaries is a Malaysia and Singapore based services provider engaged in integrated bunkering services which involves ship-to-ship transfer of marine fuels, ship management services and vessel chartering services, today announced the Company has entered into a Memorandum of Agreement (“MOA”) with bioenergy firm Double Corporate Sdn Bhd (“Double Corporate”) to explore a strategic collaboration for the EU and Asia market.

    This collaboration marks a new milestone towards TMDEL’s strategy to expand into sustainable and alternative fuel energy sectors. The MOA initiates exclusive good-faith negotiations to formalize partnerships in bioenergy sustainable fuel solutions and operational integration.

    Double Corporate is a ISCC-EU certified Malaysian-based bioenergy company specializing in waste-based bioenergy and it involves converting waste into high-yield sustainable fuels and lubricants using proprietary, ISCC-EU-approved technology. Double Corporate brings to the table a decade-long expertise in producing high-yield, low-emission biofuels suitable for applications in the sustainable aviation fuel (“SAF”) and sustainable marine fuel (“SMF”) markets, particularly in Europe and Asia.

    Dato’ Sri Kam Choy Ho, Chairman and CEO of the Company, stated that: “This partnership aligns with our vision to expand regionally and globally to advance long term sustainable, green business and fuel innovation. Double Corporate’s circular-economy focus complements our commitment to environmentally responsible energy solutions.”

    Key Agreement Terms

    The MOA establishes the parties’ intention to enter into mutual discussions to collaborate and participate in the business in Malaysia and globally with a one-year exclusivity period for negotiations, extendable by mutual consent. Both parties will prioritize finalizing definitive agreements within the exclusivity window.

    About Double Corporate

    Double Corporate is a certified Malaysian bioenergy leader converting waste into sustainable fuels and lubricants through proprietary ISCC-EU-approved technology. Double Corporate is in the development and commercialization of waste-based bioenergy, with a focus on refining palm oil mill effluent, Empty Fruit Bunches, used cooking oil, and other industrial waste oils into certified biofuels. Its high-yield (1:1 conversion) refining process minimizes waste and energy consumption while producing critical feedstocks for SAF and SMF — supported by global certifications American Petroleum Institute, ISCC and automated in-house systems. For more information, please visit Double Corporate website at: www.doublecorporate.com.

    About TMD Energy Limited

    TMD Energy Limited and its subsidiaries (“TMDEL Group”) are principally involved in marine fuel bunkering services specializing in the supply and marketing of marine gas oil and marine fuel oil of which include high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea. TMDEL Group is also involved in the provision of ship management services for in-house and external vessels, as well as vessel chartering. As of today, TMDEL Group operates in 19 ports across Malaysia with a fleet of 15 bunkering vessels. For more information, please visit the Company’s website at: www.tmdel.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including but not limited to, the Company’s Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may”, “could”, “will”, “should”, “would”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s financial results filings with the U.S. Securities and Exchange Commission.

    For investor and media inquiries, please contact:
    TMD ENERGY LIMITED
    e-Mail: corporate@tmdel.com

    WFS INVESTOR RELATIONS
    e-Mail: services@wealthfsllc.com

    The MIL Network

  • MIL-OSI: TMD Energy Limited Enters into Strategic Memorandum of Agreement to Advance Green Bioenergy Collaboration

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, MALAYSIA, June 18, 2025 (GLOBE NEWSWIRE) — TMD Energy Limited (the “Company” or “TMDEL”) (NYSE American: TMDE), together with its subsidiaries is a Malaysia and Singapore based services provider engaged in integrated bunkering services which involves ship-to-ship transfer of marine fuels, ship management services and vessel chartering services, today announced the Company has entered into a Memorandum of Agreement (“MOA”) with bioenergy firm Double Corporate Sdn Bhd (“Double Corporate”) to explore a strategic collaboration for the EU and Asia market.

    This collaboration marks a new milestone towards TMDEL’s strategy to expand into sustainable and alternative fuel energy sectors. The MOA initiates exclusive good-faith negotiations to formalize partnerships in bioenergy sustainable fuel solutions and operational integration.

    Double Corporate is a ISCC-EU certified Malaysian-based bioenergy company specializing in waste-based bioenergy and it involves converting waste into high-yield sustainable fuels and lubricants using proprietary, ISCC-EU-approved technology. Double Corporate brings to the table a decade-long expertise in producing high-yield, low-emission biofuels suitable for applications in the sustainable aviation fuel (“SAF”) and sustainable marine fuel (“SMF”) markets, particularly in Europe and Asia.

    Dato’ Sri Kam Choy Ho, Chairman and CEO of the Company, stated that: “This partnership aligns with our vision to expand regionally and globally to advance long term sustainable, green business and fuel innovation. Double Corporate’s circular-economy focus complements our commitment to environmentally responsible energy solutions.”

    Key Agreement Terms

    The MOA establishes the parties’ intention to enter into mutual discussions to collaborate and participate in the business in Malaysia and globally with a one-year exclusivity period for negotiations, extendable by mutual consent. Both parties will prioritize finalizing definitive agreements within the exclusivity window.

    About Double Corporate

    Double Corporate is a certified Malaysian bioenergy leader converting waste into sustainable fuels and lubricants through proprietary ISCC-EU-approved technology. Double Corporate is in the development and commercialization of waste-based bioenergy, with a focus on refining palm oil mill effluent, Empty Fruit Bunches, used cooking oil, and other industrial waste oils into certified biofuels. Its high-yield (1:1 conversion) refining process minimizes waste and energy consumption while producing critical feedstocks for SAF and SMF — supported by global certifications American Petroleum Institute, ISCC and automated in-house systems. For more information, please visit Double Corporate website at: www.doublecorporate.com.

    About TMD Energy Limited

    TMD Energy Limited and its subsidiaries (“TMDEL Group”) are principally involved in marine fuel bunkering services specializing in the supply and marketing of marine gas oil and marine fuel oil of which include high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea. TMDEL Group is also involved in the provision of ship management services for in-house and external vessels, as well as vessel chartering. As of today, TMDEL Group operates in 19 ports across Malaysia with a fleet of 15 bunkering vessels. For more information, please visit the Company’s website at: www.tmdel.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including but not limited to, the Company’s Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may”, “could”, “will”, “should”, “would”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s financial results filings with the U.S. Securities and Exchange Commission.

    For investor and media inquiries, please contact:
    TMD ENERGY LIMITED
    e-Mail: corporate@tmdel.com

    WFS INVESTOR RELATIONS
    e-Mail: services@wealthfsllc.com

    The MIL Network

  • MIL-OSI: Major milestone for Axi as broker teams up with prestigious media publisher Bloomberg

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, June 18, 2025 (GLOBE NEWSWIRE) — Leading online FX and CFD broker Axi proudly announced a partnership with globally recognised financial services and media company Bloomberg. This strategic collaboration marks a major step forward in the broker’s ongoing commitment to building strong brand awareness and credibility on the global stage.

    Louis Cooper, Chief Commercial Officer at Axi, shows his excitement for this new collaboration, noting: “We are immensely proud to have secured a partnership with a media publisher as globally respected as Bloomberg. A prominent global leader in business and financial news, Bloomberg is renowned for its high-quality journalism and trusted insights. This collaboration gives Axi a unique opportunity to showcase our innovations with a broad, influential audience across the world, which aligns perfectly with our strategic ambitions.

    As part of the collaboration, Bloomberg will roll out a four-part campaign throughout the summer, focusing exclusively on the broker’s flagship capital allocation program, Axi Select. The program offers ambitious traders the opportunity to access up to $1,000,000 USD in capital funding and earn up to 90% of their profits, as well as the advantage to join the program with zero registration or monthly fees*. Other standout features of Axi Select include, among others, its use of a Standard or a Pro live account, unrestrictive trading conditions, and an exclusive trading room – all designed to accelerate and maximise traders’ potential. In recent weeks, Axi Select announced four traders who reached the top milestone of the program, each receiving a $1M allocation. In addition, other traders on the program have secured capital funding at various levels, including $100K, $200K, and $500K, reflecting the program’s effectiveness in empowering traders to turn their ambitions into reality.

    Recently, the broker was honoured with the ‘Best Funded Trader Program’ award by the ADVFN International Financial Awards, and, among others, was recognised by Finance Feeds with the ‘Most Innovative Proprietary Trading Firm’ award**.

    To learn more about Axi Select click here

    About Axi

    Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.

    For more information or additional comments from Axi, please contact: mediaenquiries@axi.com

    The Axi Select program is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available to AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. *Standard trading fees apply.  

    **Granted to the Axi Group of Companies.

    The MIL Network

  • MIL-OSI Russia: Rosneft improves quality of core studies

    Translation. Region: Russian Federal

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    Specialists from the Tyumen and Tomsk research institutes of Rosneft have developed and patented a method for determining relative phase permeability – the ability of rocks to pass liquids and gases through themselves. This is the most important indicator when choosing technologies for developing hydrocarbon deposits.

    The innovation increases the accuracy of hydrodynamic modeling data by 5%, allows for the optimization of production technology and increases the efficiency of extracting reserves from heterogeneous deposits with complex geological structures.

    Scientists have used a comprehensive approach to studying carbonate rocks of Eastern Siberia, which have significant oil and gas potential. Due to the complex and heterogeneous structure of the void space of these rocks, studies using standard methods are not informative enough. The new method includes studying the structure of the pore space of full-size core samples, making special samples from them and repeatedly determining the parameters at different points and planes. This sequence allows us to identify the most likely paths of oil and gas movement in the system of pores and microcracks in rocks and create a highly accurate digital model of hydrocarbon flow.

    The work is carried out using high-tech domestic equipment with a unique core holder, which was manufactured according to a design by specialists from the Tomsk scientific institute “Rosneft”.

    Development of technological potential is one of the key elements of the corporate strategy “Rosneft-2030”. The company gives priority attention to innovation activities, defining technological leadership as a key factor in competitiveness in the oil market.

    Department of Information and Advertising of PJSC NK Rosneft June 18, 2025

    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

  • MIL-OSI Submissions: Republic of Nauru becomes first Pacific country to launch digital asset regulator

    Source: Government of Nauru

    In a landmark move for the Pacific region, the Nauru Parliament yesterday passed legislation to establish a dedicated virtual asset regulatory authority.

    The Bill establishes the Command Ridge Virtual Asset Authority (CRVAA), named after the highest point of land in Nauru, as an autonomous regulator overseeing virtual assets, digital banking, and Web3 innovation.

    It will provide a licencing scheme that will allow virtual asset service providers (VASPs) to register and offer their services using Nauru as a base.

    Nauru President David Adeang said the regulation would pave the way for Nauru to be a digital asset leader in the region and is another step towards strengthening financial integrity, investing in future generations, and forging new pathways for resilience.

    He pointed out that Nauru is one of the Pacific’s most at-risk nations, acknowledged under the United Nations Multidimensional Vulnerability Index (MVI), for its heightened exposure to economic and environmental shocks, and that the Government needed to embrace innovation.

    “This bold step aims to harness the potential of virtual assets to diversify revenue streams and fortify economic resilience,” he said.

    “By implementing robust oversight of VASPs, Nauru aims to foster sustainable growth, channel new financial inflows into strategic instruments such as its Intergenerational Trust Fund, and reduce its reliance on climate financing, which is often challenging to secure.”

    The President said Nauru aspires to secure a more sustainable and self-reliant economic future.

    “We want to be a government of solutions and innovation, be proactive not passive, and positively approach the future with boldness,” he said.

    Minister for Commerce and Foreign Investment Maverick Eoe told Parliament that more countries are recognising the potential of virtual assets from blockchain technologies to decentralised finance.

    “This Bill proposes to introduce a framework that will put Nauru on par with other countries leading in the development of their digital economies and generating revenue from such developments,” he said.

    “The licensing framework….ensures Nauru becomes a competitor, attracting businesses that bring investment, job creation, and financial innovation,” he said.

    “By regulating VASPs, token issuance, and secure digital transactions, we can position Nauru as a hub for these types of innovation and development within this part of the world.

    He said the legislation is a commitment to the future prosperity of the country and a statement that Nauru does not fear the digital transformation, but embraces it and leads within the Pacific region.

    CRVAA will be tasked with ensuring cybersecurity standards, monitoring financial transactions and enforcing compliance with international anti-money laundering and financial transparency protocols.

    The Bill, which provides unmatched legal certainty for the token-issuer, introduces a groundbreaking token classification system that provides long-awaited clarity for the global crypto industry, stating that:

    Cryptocurrencies are presumed commodities, not securities;
    Utility and payment tokens are excluded from investment contract status;
    Governance and reward tokens are protected from misclassification

    The Nauru law defines the activities subject to CRA authorisation as follows:

    • Operation of centralised or decentralised virtual asset platforms
    • Exchange services between virtual assets and/or fiat currencies
    • Custodial and non-custodial virtual asset wallet services
    • Issuance of virtual tokens, including ICOs, STOs, and NFTs
    • Lending, staking, yield farming, and decentralised finance (DeFi) services
    • Stablecoin issuance and cross-border payment solutions
    • Operation of digital banks and digital payment platforms
    • Issuance and management of E-money.

    MIL OSI – Submitted News

  • MIL-OSI Africa: The Customer Experience Africa Awards Return to Honour the Continent’s Brightest in Customer Experience (CX)

    After a powerful comeback in 2024, the Customer Experience Africa Awards (CXAs) are officially back for 2025 and bringing together the very best in customer experience from across the continent for a night of recognition, celebration, and connection. 

    Taking place on Tuesday, 12 August 2025 at the Century City Conference Centre in Cape Town, the CXAs serve as the official opening of the CEM Africa Summit; Africa’s leading platform for CX professionals. 

     Last year’s event drew over 70 applications and a full house of CX champions, industry leaders, and visionaries.  

    This year, excitement is already building with entries rolling in from across the continent, including submissions from ABSA Kenya and the University of Pretoria, the latter entering the brand-new Government & Public Sector category. 

    This year’s CX Awards have already attracted entries from leading brands such as ABSA Kenya, ICX Kenya, QContact, Telviva, Wonga Digital, BOS Technology and more, a powerful reflection of the industry’s growing commitment to customer excellence. 

    Judged by CX Leaders from Across the Continent 

    • Joan Ntabadde Kyeyune – Senior CX Consultant, Steadfast Quality Solutions 
    • Benson Mukandiwa – Trustee, Customer Experience World Games (CXWG) 
    • Qaalfa Dibeehi – Managing Partner, Human2Outcome 
    • Chantel Botha – Founder, BrandLove Customer Experience 
    • Charlie Stewart – CEO, Rogerwilco 

    Entries are assessed across four core criteria: 

    • Challenge & Market Context 
    • Strategy & Execution 
    • Impact & Measurable Results 
    • Scalability & Industry Relevance 

    Spotlight on Past Winners 

    The 2024 CXAs celebrated game-changing work across sectors, including: 

    • Liz Okomba, NCBA Bank – CX Leader of the Year 
    • Digital Solutions Group – Best Customer Experience Team 
    • NCBA Bank – Best Overall CX Solution 
    • Kim Dalton & Greg Van Der Plank, ABSA Bank – Breaking Barriers in CX 
    • Multichoice – Best Use of AI 
    • Bilha Maina, NCBA Bank – Rising Star in CX 
    • Telviva – Best Contact Centre Platform 

    Their stories inspired a room of 300+ CX professionals and reminded us of the power of people-led transformation. 

    Deadline Extended: 7 July 2025 

    Entries are open to individuals, teams, public sector departments, start-ups and multinationals across Africa. A free Tips & Tricks entry guide is available to help applicants structure their submissions.  

    Submit your Application: https://apo-opa.co/4lbz1yo

    Download the Tricks & Tips Guide: https://apo-opa.co/4k1LjZj

    Sponsorship Opportunities 

    A limited number of category sponsorships and on-site activations remain available. Sponsors benefit from on-stage visibility, branding across CXA campaigns, and direct access to Africa’s leading customer-focused brands and professionals. 

    The CXAs are not just about awards – they’re about spotlighting the real people, ideas, and initiatives shaping customer experience across Africa. 

    Distributed by APO Group on behalf of Vuka Group.

    To apply, book tickets or enquire about sponsorship email: 
    britney.price@wearevuka.com 
    peter.chinanzvavana@wearevuka.com

    Visit: www.CEM-CXA.com 

    MIL OSI Africa

  • MIL-OSI Africa: Algerian President to Speak at African Energy Week (AEW) 2025 Amid $50B Hydrocarbon Drive

    Abdelmadjid Tebboune, President of the Republic of Algeria, will speak at this year’s African Energy Week (AEW): Invest in African Energies conference. President Tebboune’s participation comes as the country paves the way for a $50 billion investment drive over the next four years and underscores Algeria’s commitment to working with international partners to bolster exploration and production.

    Under President Tebboune’s leadership, Algeria has implemented bold development plans for the oil and gas industry, striving to consolidate its position as an international export hub. The country has undertaken an ambitious investment drive and continues to attract foreign capital to the market through strengthened partnerships and improved business terms. With a focus on promoting frontier acreage, increasing gas production and creating investment opportunities in green hydrogen and regional infrastructure projects, President Tebboune is laying the foundation for long-term, sustainable economic growth in Algeria. At AEW: Invest in African Energies 2025, President Tebboune is expected to share insights into this strategy, highlighting upcoming investment opportunities and regulatory reform.

    AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

    As one of Africa’s biggest oil and gas producers, Algeria is leveraging policy reform to attract new investment in exploration projects. A cornerstone of this strategy is the country’s ongoing licensing round, which offers six onshore blocks to international and domestic companies. Launched in November 2024, the bid round will host a bid opening ceremony in June 2025, with the National Agency for the Valorization of Hydrocarbon Resources in Algeria expected to award at least five of the six blocks. This latest licensing round falls part of a five-year plan which features multiple bid rounds, aimed at offering acreage in high-potential geological zones and combining a mix of greenfield and brownfield assets. This multi-year strategy showcases the commitment of the government to increasing the competitiveness of investing in Algeria.

    Beyond the licensing rounds, President Tebboune has enacted a series of policy reforms aimed at improving the business environment for foreign operators. These include the introduction of a Hydrocarbon Law in 2019, offering improved fiscal terms to those of 2013 legislation. Since the enactment of this law, production has rebounded significantly in Algeria, with gas sales alone projected to remain at 10 billion cubic feet per day until the end of the decade. Targeting 200 billion cubic meters in gas production over the five years, the Hydrocarbon Law of 2019 will continue playing an instrumental part in attracting investment to the market.

    On the back of this law, a number of international oil companies have expanded their investments in Algeria. ExxonMobil and Chevron are exploring for hydrocarbon resources in the Ahnet, Gourara and Berkine basins; Eni and Equinor are revitalizing the In Salah and In Amenas fields; while TotalEnergies is leading gas appraisal and development in Timimoun. In tandem, Algeria’s national oil company Sonatrach is rapidly expanding its portfolio, with strategic investments in the Zarzaitine oilfield and revived operations at the Alrar gas complex. In 2024, Sonatrach made eight new hydrocarbon discoveries and in 2025, seeks to achieve 1.2 million barrels in daily production.

    Beyond oil and gas, President Tebboune has set green hydrogen development as a priority for the country, underscoring the role the resource will play in facilitating a just energy transition in Algeria. The country is emerging as a green hydrogen leader in Africa, with projects such as the SoutH2 Corridor project – a 3,300 km pipeline network developed in partnership with European stakeholders – transforming the market. The project repurposes natural gas pipelines to transport green hydrogen, leveraging the continent’s strategic resources and growing European demand to bolster exports. Operations are planned for 2030, with the project set to transport up to four million tons of hydrogen per year. Looking ahead, investments in green hydrogen are expected to diversify the market while creating new business opportunities for regional firms.

    “Algeria’s diversified energy strategy should serve as a strong example for other resource-rich nations in Africa. By prioritizing oil and gas exploration, reforming policies to attract spending and working closely with international partners to establish sustainable export networks, Algeria is establishing itself as an international energy hub. President Tebboune has played an instrumental role in making the country what it is today: an attractive, growth-oriented market,” states NJ Ayuk, Executive Chairman of the African Energy Chamber. 

    Distributed by APO Group on behalf of African Energy Chamber.

    MIL OSI Africa

  • MIL-OSI Global: How pterosaurs learned to fly: scientists have been looking in the wrong place to solve this mystery

    Source: The Conversation – UK – By Davide Foffa, Research Fellow in Palaeobiology, University of Birmingham

    Ever since the first fragments of pterosaur bone surfaced nearly 250 years ago, palaeontologists have puzzled over one question: how did these close cousins of land-bound dinosaurs take to the air and evolve powered flight? The first flying vertebrates seemed to appear on the geological stage fully formed, leaving almost no trace of their first tentative steps into the air.

    Taken at face value, the fossil record implies that pterosaurs suddenly originated in the later part of the Triassic period (around 215 million years ago), close to the equator on the northern super-continent Pangaea. They then spread quickly between the Triassic and the Jurassic periods, about 10 million years later, in the wake of a mass extinction that was most likely caused by massive volcanic activity.

    Most of the handful of Triassic specimens come from narrow seams of dark shale in Italy and Austria, with other fragments discovered in Greenland, Argentina and the southwestern US. These skeletons appear fully adapted for flight, with a hyper-elongated fourth finger supporting membrane-wings. Yet older rocks show no trace of intermediate gliders or other transitional forms that you might expect as evidence of pterosaurs’ evolution over time.

    There are two classic competing explanations for this. The literal reading says pterosaurs evolved elsewhere and did not reach those regions where most have been discovered until very late in the Triassic period, by which time they were already adept flyers. The sceptical reading notes that pterosaurs’ wafer-thin, hollow bones could easily vanish from the fossil record, dissolve, get crushed or simply be overlooked, creating this false gap.

    Eudimorphodon ranzii fossil from Bergamo in 1973 is one of many pterosaur discoveries from southern Europe.
    Wikimedia, CC BY-SA

    For decades, the debate stalled as a result of too few fossils or too many missing rocks. This impasse began to change in 2020, when scientists identified the closest relatives of pterosaurs in a group of smallish upright reptiles called lagerpetids.

    From comparing many anatomical traits across different species, the researchers established that pterosaurs and lagerpetids shared many similarities including their skulls, skeletons and inner ears. While this discovery did not bring any “missing link” to the table, it showed what the ancestor of pterosaurs would have looked like: a rat-to-dog-sized creature that lived on land and in trees.

    This brought new evidence about when pterosaurs may have originated. Pterosaurs and lagerpetids like Scleromochlus, a small land-dwelling reptile, diverged at some point after the end-Permian mass extinction. It occurred some 250 million years ago, 35 million years before the first pterosaur appearance in the fossil record.

    Scleromochlus is one of the lagerpetids, the closest known relatives to the pterosaurs.
    Gabriel Ugueto

    Pterosaurs and their closest kin did not share the same habitats, however. Our new study, featuring new fossil maps, shows that soon after lagerpetids appeared (in southern Pangaea), they spread across wide areas, including harsh deserts, that many other groups were unable to get past. Lagerpetids lived both in these deserts and in humid floodplains.

    They tolerated hotter, drier settings better than any early pterosaur, implying that they had evolved to cope with extreme temperatures. Pterosaurs, by contrast, were more restricted. Their earliest fossils cluster in the river and lake beds of the Chinle and Dockum basins (southwest US) and in moist coastal belts fringing the northern arm of the Tethys Sea, a huge area that occupied today’s Alps.

    Scientists have inferred from analysing a combination of fossil distributions, rock features and climate simulations that pterosaurs lived in areas that were warm but not scorching. The rainfall would have been comparable to today’s tropical forests rather than inland deserts.

    This suggests that the earliest flying dinosaurs may have lived in tree canopies, using foliage both for take-off and to protect themselves from predators and heat. As a result of this confined habitat, the distances that they flew may have been quite limited.

    Changing climates

    We were then able to add a fresh dimension to the story using a method called ecological niche modelling. This is routinely used in modern conservation to project where endangered animals and plants might live as the climate gets hotter. By applying this approach to later Triassic temperatures, rainfall and coastlines, we asked where early pterosaurs lived, regardless of whether they’ve shown up there in the fossil record.

    Many celebrated fossil sites in Europe emerge as poor pterosaur habitat until very late in the Triassic period: they were simply too hot, too dry or otherwise inhospitable before the Carnian age, around 235 million years ago. The fact that no specimens have been discovered there that are more than about 215 million years old may be because the climate conditions were still unsuitable or simply because we don’t have the right type of rocks preserved of that age.

    In contrast, parts of the south-western US, Morocco, India, Brazil, Tanzania and southern China seem to have offered welcoming environments several million years earlier than the age of our oldest discoveries. This rewrites the search map. If pterosaurs could have thrived in those regions much more than 215 million years ago, but we have not found them there, the problem may again lie not with biology but with geology: the right rocks have not been explored, or they preserve fragile fossils only under exceptional conditions.

    Our study flags a dozen geological formations, from rivers with fine sediment deposits to lake beds, as potential prime targets for the next breakthrough discovery. They include the Timezgadiouine beds of Morocco, the Guanling Formation of south-west China and, in South America, several layers of rock from the Carnian age, such as the Santa Maria Formation, Chañares Formation and Ischigualasto Formation.

    Pterosaurs were initially confined to tropical treetops near the equator. When global climates shifted and forested corridors opened, pterosaurs’ wings catapulted them into every corner of the planet and ultimately carried them through one of Earth’s greatest extinctions. What began as a tale of missing fossils has become a textbook example of how climate, ecology and evolutionary science have come together to illuminate a fragmentary history that has intrigued paleontologists for over two centuries.

    Davide Foffa is funded by Marie Skłodowska-Curie Actions: Individual (Global) Fellowship (H2020-MSCA-IF-2020; No.101022550), and by the Royal Commission for the Exhibition of 1851–Science Fellowship

    Alfio Alessandro Chiarenza receives funding from The Royal Society (Newton International Fellowship NIFR1231802)

    Emma Dunne 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 pterosaurs learned to fly: scientists have been looking in the wrong place to solve this mystery – https://theconversation.com/how-pterosaurs-learned-to-fly-scientists-have-been-looking-in-the-wrong-place-to-solve-this-mystery-259063

    MIL OSI – Global Reports

  • MIL-OSI Europe: The EBA consults on technical standards on acquisitions in credit institutions

    Source: European Banking Authority

    The European Banking Authority (EBA) today launched a public consultation on draft Regulatory Technical Standards (RTS) specifying the list of minimum information to be provided to the relevant competent authority at the time of the notification of the proposed acquisition of qualifying holdings in a credit institution. These RTS aim at harmonising the minimum content of the notification to the competent authority of the target credit institution with a view to supporting a harmonised prudential assessment of the proposed acquisition against the five assessment criteria set out in the Capital Requirements Directive (CRD). The consultation runs until 18 September 2025.

    The draft RTS require information on the proposed acquirer’s identity, reputation and financial soundness. To support the assessment of the sound and prudent management of the target credit institution, the proposed acquirer is requested to submit a business plan, with more specific information in case of control acquisition. Information on the legitimate origin of the sources of funding is requested, among others, to assess suspicion of money laundering or terrorist financing risk.

    To reflect proportionality concerns and to support efficient supervisory practices, these RTS envisage exemptions from the submission of information already in possession of the competent authority. Reduced information is also requested in specific acquisition structures where the indirect proposed acquirer is expected to exercise negligible influence (if any) on the target credit institution.

    Consultation process

    Responses to the consultations can be sent to the EBA by clicking on the “send your comments” button on the consultation page.

    public hearing will take place via conference call on Tuesday 15 July from 14:00-16:00 CET. The deadline for registration is 11 July at 16:00 CET.

    All contributions received will be published after the consultation closes, unless requested otherwise. The deadline for the submission of comments is 18 September 2025.

    Legal basis and background

    Article 23(6) of Directive 2013/36/EU, as amended by Directive (EU) 2024/1619 (CRDVI), mandates the EBA to develop RTS to set out the list of minimum information to be included in the notification submitted by the proposed acquirer of qualifying holdings to the competent authority of the target credit institution prior to the proposed acquisition.

    MIL OSI Europe News

  • MIL-OSI Europe: The EBA consults on technical standards on acquisitions in credit institutions

    Source: European Banking Authority

    The European Banking Authority (EBA) today launched a public consultation on draft Regulatory Technical Standards (RTS) specifying the list of minimum information to be provided to the relevant competent authority at the time of the notification of the proposed acquisition of qualifying holdings in a credit institution. These RTS aim at harmonising the minimum content of the notification to the competent authority of the target credit institution with a view to supporting a harmonised prudential assessment of the proposed acquisition against the five assessment criteria set out in the Capital Requirements Directive (CRD). The consultation runs until 18 September 2025.

    The draft RTS require information on the proposed acquirer’s identity, reputation and financial soundness. To support the assessment of the sound and prudent management of the target credit institution, the proposed acquirer is requested to submit a business plan, with more specific information in case of control acquisition. Information on the legitimate origin of the sources of funding is requested, among others, to assess suspicion of money laundering or terrorist financing risk.

    To reflect proportionality concerns and to support efficient supervisory practices, these RTS envisage exemptions from the submission of information already in possession of the competent authority. Reduced information is also requested in specific acquisition structures where the indirect proposed acquirer is expected to exercise negligible influence (if any) on the target credit institution.

    Consultation process

    Responses to the consultations can be sent to the EBA by clicking on the “send your comments” button on the consultation page.

    public hearing will take place via conference call on Tuesday 15 July from 14:00-16:00 CET. The deadline for registration is 11 July at 16:00 CET.

    All contributions received will be published after the consultation closes, unless requested otherwise. The deadline for the submission of comments is 18 September 2025.

    Legal basis and background

    Article 23(6) of Directive 2013/36/EU, as amended by Directive (EU) 2024/1619 (CRDVI), mandates the EBA to develop RTS to set out the list of minimum information to be included in the notification submitted by the proposed acquirer of qualifying holdings to the competent authority of the target credit institution prior to the proposed acquisition.

    MIL OSI Europe News

  • MIL-OSI Africa: Electoral Commission hosts first symposium on political funding in SA

    Source: South Africa News Agency

    The Electoral Commission of South Africa (IEC) has launched a two-day symposium on political funding, aimed at evaluating and enhancing the regulatory framework governing the use of money in politics.

    The first-ever symposium on political funding, follows four years of implementing the Political Funding Act of 2018, which came into effect on 1 April 2021.

    Held under the theme: “Sustaining Multi-Party Democracy through Enhancing Political Funding Regulation in South Africa” the symposium aims to foster informed dialogue on the matters related to the use of money in politics, promote transparency and accountability models, as well as possible reforms to ensure an effective political finance regulatory regime in South Africa.

    According to a statement issued by the Commission on Wednesday, the key highlights of the symposium include opening remarks by the Chairperson of the Electoral Commission, Mosotho Moepya, presentation by Chief Electoral Officer Sy Mamabolo, and the Political Funding Unit outlining the Commission’s experience in implementing the law since its promulgation. 

    “This aspect will naturally involve the points of success and areas of challenge. Furthermore, the Human Sciences Research Council (HSRC) will outline the preliminary outcomes of the research study which, amongst others, gathered the views and perspectives of stakeholders and the public on political financing in the country,” the Commission said. 

    Finance Minister, Enoch Godongwana is scheduled to address the symposium on Thursday morning, where he is expected to provide a perspective on the public funding of elected representative to enhance multi-party democracy.

    Several scholars will also present their work in this area of money and politics. 

    Highlights of the programme include the following:

    • A global perspective on political funding and campaign finance.

    • The role and mandate of the political funding framework in strengthening democratic governance.

    • Assessing the capacity and commitment of key stakeholders in improving the regulation of political funding.

    • Transparency in public and private political party funding: challenges and prospects.

    The symposium brings together a wide range of stakeholders, including representatives from political parties, members of parliament, academia, civil society, the media, the business sector, as well as international and intergovernmental organisations.

    Speaking ahead of the symposium, Mamabolo emphasised the need for a collective commitment to enhance transparency in the political funding landscape, to foster a vibrant system of multiparty democracy. 

    “By convening diverse stakeholders, we aim to critically assess our progress and explore avenues for strengthening the current regulatory framework and thus ensure that our democracy remains robust and resilient,” he said.

    The symposium is taking place at Umhlanga, north of Durban, from 18-19 June 2025. – SAnews.gov.za

    MIL OSI Africa

  • Yoga Sangam registrations cross four lakh ahead of International Day of Yoga

    Source: Government of India

    Source: Government of India (4)

    Registrations for Yoga Sangam, the signature event marking the 11th International Day of Yoga (IDY) 2025, have crossed four lakh, setting a new benchmark for mass participation in a nationwide wellness initiative. The synchronised yoga demonstrations are set to take place at lakhs of locations across the country on June 21.

    According to the Ministry of Ayush, the main event will be held in Visakhapatnam, where Prime Minister Narendra Modi, Andhra Pradesh Chief Minister N. Chandrababu Naidu, and Union Minister of State for Ayush and Health, Prataprao Jadhav, will lead over five lakh participants in performing the Common Yoga Protocol. The session is scheduled from 6:30 am to 7:45 am.

    Rajasthan has registered the highest number of yoga locations, with 1,38,033 organisations taking part. Andhra Pradesh has matched that figure, followed by Uttar Pradesh with 1,01,767 locations. Other states with significant participation include Madhya Pradesh (26,159), Gujarat (19,951), and Himachal Pradesh (12,000), the ministry said.

    This year’s theme, ‘Yoga for One Earth, One Health,’ focuses on the relationship between human well-being and planetary health. Officials said the growing response reflects the increasing popularity of yoga as a holistic health practice and its relevance in addressing modern lifestyle challenges.

    Participation spans academic institutions, public sector organisations, private companies, and community-based groups. The event has drawn support from IITs, IIMs, NGOs, schools, and corporate offices alike. The Yoga Sangam portal has been used for coordination and registrations nationwide.

    The Ministry described the scale of the campaign as unprecedented, adding that no previous event in India had received such a level of assured participation for a single-day, synchronised programme.

    Those interested in joining the event can register through the official portal: [https://yoga.ayush.gov.in/yoga-sangam](https://yoga.ayush.gov.in/yoga-sangam).