Source: People’s Republic of China – State Council News
China issued 10.68 trillion yuan (about 1.5 trillion U.S. dollars) in new yuan-denominated loans in the first five months of 2025, central bank data showed on Friday.
At the end of May, outstanding yuan loans amounted to 266.32 trillion yuan, up 7.1 percent year on year, according to the People’s Bank of China. In the first five months, household loans increased by 572.4 billion yuan, while loans to enterprises increased by 9.8 trillion yuan.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 7.9 percent year on year to 325.78 trillion yuan at the end of May.
The M1, which covers cash in circulation, demand deposits and clients’ reserves of non-banking payment institutions, stood at 108.91 trillion yuan at the end of May, up 2.3 percent year on year.
The M0, which indicates the amount of cash in circulation, reached 13.13 trillion yuan at the end of May, an increase of 12.1 percent year on year.
In the first five months, the net cash injection hit 306.4 billion yuan.
Deposits in yuan rose by 14.73 trillion yuan in the first five months. The balance of deposits in yuan climbed 8.1 percent year on year to 316.96 trillion yuan at the end of May.
The total social financing stock in China reached 426.16 trillion yuan at the end of May, marking an 8.7 percent increase year on year.
In the first five months, the newly added social financing amounted to 18.63 trillion yuan, representing a 3.83 trillion yuan increase year on year.
TORTOLA, British Virgin Islands, June 13, 2025 (GLOBE NEWSWIRE) — The world welcomes SoloChain, the first blockchain designed for agentic transactions and DePIN (Decentralized Physical Infrastructure) mining. With a focus on facilitating real-world asset integration, equitable token distribution, and smart automation, SoloChain is built upon three pillars:
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Disclaimer: This content is provided bySoloChain. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
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The second meeting of the Mattei Plan steering committee was held at Palazzo Chigi today, chaired by the Vice-President of the Council of Ministers and Minister of Foreign Affairs, Antonio Tajani.
The meeting was attended by all Ministries concerned and the Conference of Regions and Autonomous Provinces as well as by representatives from the various State bodies and companies, publicly-owned enterprises, universities and research institutions, third sector organisations and private companies involved in cooperation and development activities.
The meeting recalled President of the Council of Ministers Giorgia Meloni’s recent trips to Egypt (17 March) and Tunisia (17 April), which allowed for important agreements to be signed in a number of the Plan’s action areas: agriculture, water, education and training. The meeting also reviewed the trips to eastern Africa that have been undertaken by Task Force members, development cooperation officials and the ‘Sistema Italia’, as well as the future trips scheduled to take place in the coming weeks.
Lastly, the meeting examined a consolidated version of the Mattei Plan summary document, in light of the observations made by steering committee members and ahead of finalising the document before its subsequent submission to Parliament for the parliamentary committees in charge to provide their opinion.
WASHINGTON, DC – Following national home price growth of 5.3% in 2024, a panel of more than 100 housing experts forecasts home price growth to average 2.9% in 2025 and 2.8% in 2026, according to the Q2 2025 Fannie Mae (FNMA/OTCQB) Home Price Expectations Survey (HPES), produced in partnership with Pulsenomics, LLC. The panel’s latest estimates of national home price growth represent revisions from last quarter’s expectations of 3.4% for 2025 and 3.3% for 2026, as measured by the Fannie Mae Home Price Index (FNM-HPI). As part of this quarter’s survey, panelists were also asked whether they expect home price growth in the 20 largest metro-area housing markets will underperform or overperform the national average in the next 12 months, as well as the probability that national year-over-year home price growth will turn negative at any point through the end of 2026.
The full HPES data sets and special topic research can be found here .
Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group, Pulsenomics, LLC, and the surveyed experts included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.
About Fannie Mae’s Home Price Expectations Survey Fannie Mae’s Home Price Expectations Survey (HPES), produced in partnership with Pulsenomics, LLC, polls more than 100 experts across the housing and mortgage industry and academia for forecasts of national home price percentage changes in each of the coming five calendar years, with the Fannie Mae Home Price Index as the benchmark. On a quarterly basis, Fannie Mae plans to publish the latest panelist-level expectations. The Q2 2025 HPES had 107 respondents and was conducted by Pulsenomics, LLC, between May 8, 2025, and May 20, 2025.
About the ESR Group Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lenders to inform forecasts and analyses on the economy, housing, and mortgage markets.
About Pulsenomics Pulsenomics® is an independent research and index product development firm that leverages expertise in data analytics, opinion research, financial markets, and economics to deliver insight and market intelligence to institutional clients, partners, and the public at large. To learn more, visit pulsenomics.com .
Plymouth is to be the national centre for marine autonomy, the Defence Minister has announced in a keynote address at a major networking event in the city today.
The city is already making waves in this area of marine technology, but the announcement made by the Right Honourable Maria Eagle, Minister of State (Defence Procurement and Industry) will catapult the city and its expertise into the spotlight.
The timing of the news could not have been better – it came as the Plymouth City Council in partnership with the South West Regional Defence and Security Cluster, hosted an event in Devonport involving key figures from the world of marine and defence connecting with local companies to explore opportunities for future projects and investment.
Council Leader Tudor Evans OBE said: “This is superb news. We knew Plymouth was creating something special in the blue/green skills sector, but it is always great to see others endorse what you believe.
“We have some extraordinary businesses and organisations here in Plymouth who are at the cutting edge of this incredibly exciting sector. The world is waking up to all the possibilities marine autonomy offers and we are very keen indeed to help connect Plymouth businesses to the right people and the right organisations.
“Investing in Plymouth’s businesses for testing and developing marine autonomy will enable UK PLC to build sovereign capabilities and secure a significant share in this growing market, particularly in the fields of defence, renewables, and oil and gas.”
MP for Plymouth Sutton and Devonport Luke Pollard told the delegates that the nature of defence is changing. He said: “We have a strategic defence review that sets out that we will have fighting structure which includes marine autonomy.
“Defence is an engine for growth. This an opportunity to develop, scale up and test marine autonomy. This sector is incredible, innovative and the work we are doing in the city is cutting edge.
“There is a place for investment and that’s Plymouth.”
Professor Richard Davies, Vice-Chancellor of the University of Plymouth, said: “This acknowledges the key role Plymouth is already playing in the development and delivery of marine autonomy.
“But being recognised as the national centre of excellence represents a once in a lifetime opportunity that will open new doors for the University and our partners.
“Working across existing and new collaborations, we can now push forward with ambitious plans to grow a sector that is critical to our nation’s defence and security, and has the potential to benefit the environment, business, health and much more besides. Together, we have the skills and expertise to deliver on those ambitions, fostering new opportunities that benefit the city, region and country in the long-term.”
Plymouth and its surrounding area has a rich ecosystem of private sector businesses and world-renowned research capabilities across marine autonomy.
It is a global centre of excellence for marine science and technology, with one of the largest clusters of expertise in the world and over 7,100 skilled people in marine manufacturing. Blue tech/marine sector accounts for 21 per cent of the national employment in this field and 11.3 per cent of the city’s total employment.
Global research partners include Plymouth Marine Laboratory, Marine Biological Association, the University of Plymouth and marine autonomy companies already based in Plymouth include Thales, M Subs, Oshen, Zero USV, Sonardyne and Fugro.
In 2020 M Subs successfully sailed the first autonomous vessel across the Atlantic.
The Mayflower Autonomous Ship (MAS400) was the world’s first full-sized, fully autonomous, unmanned ship to cross the ocean. The revolutionary vessel set sail from Plymouth and arrived at Plymouth, Massachusetts via a pit stop in Halifax in Nova Scotia.
The industry predicts a global marine autonomy market worth £103 billion by 2030, with the UK adopting a 10 per cent market share.
Key speakers at the event included Sir Chris Gardner KBE Chief Executive Officer of the Submarine Delivery Agency and the Royal Navy’s Vice Admiral Andrew Burns.
There were also representatives from Thales, Atlas Electronics as well as a themed discussion on advanced marine technology and how Plymouth will drive innovation in dual-use technology for UK Security by representatives from the University of Plymouth and PML.
Over 170 people attended the event today Friday 13 June at the Market Hall in Devonport, UK.
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, June 13 (Xinhua) — A conference entitled “Cities of the Future. Synergy of the Moscow-Beijing Strategic Partnership” was held in Beijing on Friday, which is part of the ongoing “Moscow Seasons in Beijing” festival.
The two capitals are celebrating the 30th anniversary of their sister city relations this year. “Two dynamically developing megacities with enormous potential and investment opportunities have much to learn from each other, be it the organization of transport logistics infrastructure, the introduction of digital services, the holding of large-scale cultural and sports events or the introduction of advanced environmental standards,” said Andrey Povalyaev, Minister Counselor of the Russian Embassy in China, delivering a welcoming speech at the opening of the event.
“Currently, 383 partnership pairs have been formed between our countries, including 135 between the subjects of the Russian Federation and the regions of the PRC, as well as 248 pairs at the municipal level,” he emphasized, adding that “by their example, the capitals of the two countries set the bar for interaction and serve as a model for other regions of Russia and China.”
At the plenary session, government officials from Beijing and Moscow, as well as representatives of business circles, industry organizations and research institutions from both countries, discussed topics such as the implementation of the intercity cooperation program for the coming years, and exchanged best practices and achievements in bilateral cooperation in the development of mutual tourist flows, trade, investment, industry, digital services and technology.
The conference also featured a ceremony between Chinese and Russian companies and organizations to hand over signed memorandums of understanding or cooperation, as well as agreements of intent or cooperation. These documents relate to cooperation in developing mutual tourist flows, trade, and museum affairs.
In addition, the conference included business sessions where issues related to the entry of Russian enterprises into the Chinese market, challenges and opportunities for Moscow innovative companies in China, as well as the development of investment and industrial cooperation between the capitals of the two countries were discussed.
Along with this, a meeting of the working group on transport between Moscow and Beijing, a round table on holding bilateral international museum projects between the two cities, as well as a presentation of Moscow’s tourism potential and B2B negotiations with the participation of business representatives from the two countries were held.
Let us recall that the Moscow Seasons in Beijing festival, organized by the Moscow government with the support of the Beijing People’s Government, is one of the largest events within the framework of the China-Russia Cross Years of Culture 2024-2025. It takes place from Thursday to Sunday on the Wangfujing pedestrian street in the very center of the capital of the PRC. -0-
The Securities and Exchange Commission today announced that investment management industry leader Brian T. Daly will become the new Director of the Division of Investment Management, effective July 8.
Mr. Daly brings decades of experience serving in prominent roles at global law firms and investment management firms while advising fund managers and sponsors on regulatory compliance.
For the past four years, he has been a partner in the investment management practice at Akin Gump Strauss Hauer & Feld LLP in New York, where he has guided investment advisers and other clients on their legal and compliance programs, policies, and procedures as well as counseling on fund and management company formation, operational and trading issues, contentious matters, and management company transactions.
“Brian has deep familiarity with all levels of the investment management industry, and I look forward to working with him as we address smart, effective oversight of the industry and its relationships with investors,” said SEC Chairman Paul S. Atkins. “I am looking forward to working with Brian on common-sense regulation that does not impose unnecessary burdens and genuinely embraces the public comment process.”
Mr. Daly said, “I’ve long respected and appreciated the SEC’s commitment to regulatory oversight while advising clients on compliance and providing public comment from the investment management point of view during agency rulemaking. I am optimistic about this new day at the SEC and eager to get to work with Chairman Atkins and my new colleagues to ensure regulatory compliance by investment advisers and fund managers while tailoring rulemakings within our statutory authority.”
Prior to Akin, Mr. Daly spent nearly a decade as a partner in the investment management group of Schulte Roth & Zabel LLP, advising investment advisers and fund managers on legal, compliance, and operational issues and matters. He was also a founding equity partner of Kepos Capital, a quantitative investment management company, while he served as chief legal and compliance officer. Among other prior positions, Mr. Daly served in general counsel and chief compliance officer positions at Millennium Partners, a Carlyle Group liquid markets fund manager, and Raptor Capital Management. He also taught legal ethics at Yale Law School and served on the board of directors of the Managed Funds Association.
Mr. Daly earned his J.D., with distinction, from Stanford Law School, where he was an associate editor on the Stanford Law Review and the editor-in-chief of the Stanford Journal of International Law. He received his B.A., magna cum laude and Phi Beta Kappa, from Catholic University and his M.A. from the East-West Center at the University of Hawaii.
overnor Kathy Hochul and the New York Racing Association, Inc. (NYRA) today announced that the Belmont Stakes Racing Festival will return to historic Saratoga Race Course in June 2026 for a third and final year to allow for the on-time and uninterrupted construction of a new Belmont Park in Elmont, N.Y.
“New York is home to world class sports and entertainment and this final chapter of the Belmont Stakes at Saratoga Race Course honors our rich racing heritage while paving the way for a bold, new future at Belmont Park,” Governor Hochul said. “Bringing the race back to Saratoga next year will once again expand the audience for this storied leg of the Triple Crown and ensure fans continue to enjoy the full experience.”
The announcement follows the recently concluded 2025 Belmont Stakes Racing Festival which was highlighted by Sovereignty’s victory in Saturday’s 157th running of the Grade 1, $2 million Belmont Stakes presented by NYRA Bets.
The reimagined Belmont Park remains on schedule to open to the public in September 2026. While NYRA had previously left open the possibility of hosting a Belmont Stakes in a partially completed facility with a limited number of fans, the decision to return to Saratoga Race Course for the 2026 Belmont Stakes Racing Festival will allow the event to be unhindered by various restrictions made necessary by ongoing construction.
New York Racing Association President and CEO Dave O’Rourke said, “Saratoga has served our fans and stakeholders extremely well as the temporary home of the Belmont Stakes during the construction of a new Belmont Park on Long Island. As we prepare for the opening of the new Belmont Park in the fall of 2026, NYRA is pleased to bring the Belmont Stakes to Saratoga for a third and final time next June. Belmont Park will always be the home of the Belmont Stakes and we look forward to its return to the newly reimagined Belmont in 2027.”
Empire State Development President, CEO and Commissioner Hope Knight said, “Bringing the Belmont Stakes Festival to Saratoga Race Course the past two years has introduced new audiences and new visitors to Saratoga Springs and its surrounding communities, which supports our local small businesses and the Upstate tourism economy. By granting Saratoga a third opportunity to host the third leg of racing’s Triple Crown, even more fans will be inspired by this unique circumstance and plan a trip to experience the excitement, the history and the pageantry firsthand.”
State Senator Joseph P. Addabbo, Jr. said, “The decision to once again bring the Belmont Stakes Racing Festival to Saratoga in 2026 demonstrates a strong commitment to both preserving tradition and ensuring the successful modernization of Belmont Park. This transition period has enabled top-notch racing to continue while providing an economic boom for Saratoga and enhancing the experience for horse racing fans. I look forward to the grand reopening of a state-of-the-art Belmond Park in 2027 and the continued economic and social impact these premier racing events bring to our state.”
Assemblymember Carrie Woerner said, “Saratoga Springs and Saratoga Race Course hosted two successful Belmont Stakes Racing Festivals and we are thrilled to be hosting the exciting third leg of the Triple Crown again. Once the reimagined Belmont Park opens, New York will be home to the most state-of-the-art and the most historical Thoroughbred racetracks in the country. I am already looking forward to next year and the bright future of this heritage sport in our state.”
Chairman of the Saratoga County Board of Supervisors and Town of Clifton Park Supervisor Phil Barrett said, “Saratoga County has proudly partnered with many organizations to support events coinciding with the Belmont Stakes. We have been proud to host the Belmont and the event has drawn people to our county, providing the opportunity to showcase our recreational, cultural, and historical attractions. We will begin planning for 2026 with NYRA and partner organizations to deliver the best possible experience!”
City of Saratoga Springs Mayor John Safford said, “It has been an honor and a privilege for Saratoga Springs to host The Belmont over the past two years. The exceptional collaboration between NYRA, the Chamber, Discover Saratoga, and other dedicated community partners has created a memorable experience for all who visited our city. We are excited to continue these strong partnerships and welcome an additional year of the Belmont in Saratoga for 2026.”
Saratoga County Chamber of Commerce President Todd Shimkus said, “It’s been an honor for the local and regional community to help serve as stewards for the Belmont Stakes during the construction of the new Belmont Park, and we are excited to do so for one final year. The Chamber and our partners are already working on plans for a third Belmont on Broadway kick-off concert in 2026 to support the Belmont Stakes Racing Festival.”
Saratoga Economic Development Corporation President Greg Connors said, “In Saratoga County, we couldn’t be more grateful and appreciative to both the Governor and NYRA for bringing back to Saratoga in 2026 the Belmont Stakes Racing Festival. The substantial economic impact on not only Saratoga but the Capital Region is significant. Historically, the traditional Saratoga meet contributes an estimated $9M dollars per day to the local economy. And, with our partners in government, business and community development sectors, we have worked as a team, for the last 2 years, to showcase our community to the world and the world class thoroughbred racing industry, that Saratoga County and the City of Saratoga Springs is capable and ready to handle such a historic horse racing event of national and international interest. For one last time in 2026, Saratoga County is excited to welcome the world back to the Belmont Stakes Racing Festival at the Saratoga Race Course.”
Discover Saratoga President Darryl Leggieri said, “We are absolutely thrilled to welcome the Belmont Stakes Racing Festival back to Saratoga in 2026 for the third consecutive year. Hosting this iconic event is not only a tremendous honor—it’s a testament to Saratoga County’s ability to safely and successfully accommodate major events on a national scale. The Belmont Stakes brings a remarkable boost to our local economy and provides incredible exposure for our community, our small businesses, and the world-class hospitality that defines Saratoga. We’re grateful to Governor Hochul and the New York Racing Association for their continued confidence in Saratoga as a premier destination for racing and tourism.”
The 2026 Belmont Stakes presented by NYRA Bets will be held Saturday, June 6. The race will once again be contested at 1.25 miles in 2026, rather than the traditional 1.5 miles due to the configuration of Saratoga’s main track.
In the coming weeks, Saratoga Race Course will serve as the home to a special July 4th Racing Festival which is traditionally held at Belmont Park. The four-day event will take place Thursday, July 3 to Sunday, July 6 and will serve as a prelude to the traditional 40-day Saratoga summer meet which gets underway on Thursday, July 10 and will continue through Labor Day, Monday, September 1. New York State and the NYRA are currently redeveloping Belmont Park, with a $455 million capital construction project transforming the facility into a world-class racing and entertainment destination.
Last month, Governor Hochul announced Belmont Park will host the Breeders’ Cup in 2027 for the first time in twenty years. It will be the fifth time New York will host the Breeders’ Cup after hosting in 1990, 1995, 2001, and 2005. The Breeders’ Cup at Belmont Park will be held Oct. 29-30, 2027. All race dates are pending approval by the New York State Gaming Commission. For more information, visit belmontstakes.com.
About the New York Racing Association, Inc.
NYRA is a not-for-profit corporation franchised by New York State to conduct thoroughbred racing at Aqueduct Racetrack, Belmont Park and Saratoga Race Course. NYRA tracks are the cornerstone of New York State’s horse racing economy, which is responsible for 19,000 jobs and more than $3 billion in annual statewide economic impact.
LONDON, June 13, 2025 (GLOBE NEWSWIRE) — via IBN – RedCloud Holdings plc (Nasdaq: RCT) (“RedCloud” or “The Company”) today announces that Justin Floyd, CEO and Co-Founder will be attending the ROTH 15th Annual London Conference, which will be held at the Four Seasons Hotel London at Park Lane in London, UK.
Event
ROTH 15th Annual London Conference
Date
June 24-26, 2025
Format
1×1 / small group meetings – by invitation only
Location
London, UK
This format will provide investors the opportunity to meet with executive management from approximately 70 companies across a range of sectors. The 1-on-1 and small group meetings throughout the event will offer institutional investors meaningful interaction with company leadership and the ability to gain in-depth insights into each business.
About ROTH ROTH is a relationship-driven investment bank focused on serving growth companies and their investors. Its full-service platform provides capital raising, high impact equity research, macroeconomics, sales and trading, technical insights, derivatives strategies, M&A advisory, and corporate access. Headquartered in Newport Beach, California, ROTH is a privately held, employee-owned organization and maintains offices throughout the U.S.
RedCloud has developed and operates the RedCloud trading platform (the “Platform”), that facilities trade of everyday consumer supplies of fast-moving consumer goods (“FMCG”) products across business supply chains. RedCloud believes its Platform solves a decades old problem of how to unlock and enable access to key purchase and sales data between brands, distributors and retailers in high growth consumer markets. Through RedCloud’s Platform, retailers are enabled to use data driven insights backed by artificial intelligence (“AI”) to help make faster and easier business-to-business (“B2B”) purchases and inventory decisions from brands and distributors by breaking down complex purchasing behaviors of large product inventory catalogues. For more information about RedCloud and its Platform, please visit www.redcloudtechnology.com and connect on LinkedIn and Facebook .
Source: Africa Press Organisation – English (2) – Report:
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Responding to the announcement on Wednesday that the Nigerian government has pardoned the Ogoni Nine, Isa Sanusi, Amnesty International Nigeria’s Director, said:
“This is welcome news but it falls far short of the justice the Ogoni Nine need and deserve – the Nigerian government must recognise formally that they are innocent of any crime and fully exonerate them.
“The Ogoni Nine, led by Ken Saro-Wiwa Nigeria’s leading author and campaigner, were brutally executed by a regime that wanted to hide the crimes of Shell and other oil companies that were destroying – and continue to destroy – the lives and livelihoods of tens of thousands of people across the Niger Delta as a result of their devastating oil spills and leaks.
“The execution of these activists nearly 30 years ago has given the Nigerian government and oil companies, including Shell, licence to crackdown on protests and intimidate people in the Niger Delta who have been demanding justice and an end to their toxic pollution.
“Full justice for the Ogoni Nine is only a first step – much more needs to be done to get justice for communities in the Niger Delta, including holding Shell and other oil companies to account for the damage they have done and continue to do. They must pay the Niger Delta’s communities full compensation for the devastation their oil spills and leaks have caused and clean up their toxic mess before they leave the region.”
Background
The Ogoni Nine
Ken Saro-Wiwa, environmental activist and writer, Barinem Kiobel, John Kpuinen, Baribor Bera, Felix Nuate, Paul Levula, Saturday Dobee, Nordu Eawo and Daniel Gbokoo, were executed after a blatantly unfair trial on 10 November 1995. Officially accused of involvement in murder, the men had in fact been put on trial because they had challenged the devastating impact of oil production by Shell, in the Ogoniland region of the Niger Delta.
Shell have been accused of complicity in the unlawful arrest, detention and execution of nine men.
Niger Delta devastation
For 60 years Shell and other oil companies have been responsible for oil spills and leaks due to poorly maintained pipelines, wells and inadequate clean-up attempts that have ravaged the health and livelihoods of many of the 30 million people living in the Niger Delta – most of whom live in poverty. People can’t fish anymore because their water sources, including their wells for drinking water, are poisoned and the land is contaminated which has killed plant life, meaning communities can no longer farm.
The Ogale and Bille communities as well as the Bodo community are taking Shell to the UK’s Royal Courts of Justice demanding the oil giant cleans up the oil spills that have wrecked their livelihoods, health and caused widespread devastation to the local environment.
Source: Africa Press Organisation – English (2) – Report:
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The Principal Secretary for Medical Services Dr. Ouma Oluga on Friday June 13, 2025 chaired a consultative meeting with the African Development Bank and the National Treasury to review progress on the implementation of the East Africa Centre of Excellence in Urology and Nephrology project.
The meeting brought together key stakeholders, including Ms. Nadege Balima from the African Development Bank, Mr. Samuel Nyoike from the National Treasury, and Dr. Ajuck Hossin from the Ministry of Health.
Source: The Conversation – USA – By Susan M. Shaw, Professor of Women, Gender, and Sexuality Studies, Oregon State University
A worship session at the 2025 Southern Baptist Convention annual meeting on June 10, 2025, in Dallas. AP Photo/Richard W. Rodriguez
The Southern Baptist Convention has lost 3.6 million members over the past two decades and faces an ongoing sexual abuse crisis. At its June 2025 annual meeting, however, neither of those issues took up as much time as controversial social issues, including the denomination’s stance on same-sex marriage.
The group called for the overturning of Obergefell v. Hodges – the Supreme Court decision that legalized same-sex marriage – and the creation of laws that “affirm marriage between one man and one woman.”
Messengers – Southern Baptists’ word for delegates from local churches – also asked for laws that would “reflect the moral order revealed in Scripture and nature.”
They also decried declining fertility rates, commercial surrogacy, Planned Parenthood, “willful childlessness,” the normalization of “transgender ideology,” and gender-affirming medical care.
This detailed list targeting women’s and LGBTQ+ rights was justified by an appeal to a God-ordained created order, as defined by Southern Baptists’ interpretation of the Bible.
In this created order, sex and gender are synonymous and are irrevocably defined by biology. The heterosexual nuclear family is the foundational institution of this order, with the father dominant over his wife and children – and children are a necessity if husbands and wives are to be faithful to God’s design for the family.
The resolution, On Restoring Moral Clarity through God’s Design for Gender, Marriage, and the Family, passed easily in a denomination that was taken over from more moderate Southern Baptists by fundamentalists in the early 1990s, largely in response to women’s progress in society and in the denomination.
Southern Baptists were always conservative on issues of gender and sexuality. As I was entering a Southern Baptist seminary in the early 1980s, the denomination seemed poised to embrace social progress. I watched the takeover firsthand as a student and then as a professor of women and gender studies who studies Southern Baptists. This new resolution is the latest in a long history of Southern Baptist opposition to the progress of women and LGBTQ+ people.
Opposing LGBTQ+ rights
Throughout the late 1960s and early 1970s, many Southern Baptists began to embrace the women’s movement. Women started to attend Southern Baptist seminaries in record numbers, many claiming a call to serve as pastors. While Southern Baptist acceptance of LGBTQ+ people lagged far behind its nascent embrace of women’s rights, progress did seem possible.
Then in 1979, a group of Southern Baptist fundamentalists organized to wrest control of the denomination from the moderates who had led it for decades.
Any hope for progress on changes regarding LGBTQ+ rights in the denomination quickly died. Across the next two decades, advances made by women, such as being ordained and serving as senior pastors, eroded and disappeared.
The SBC had passed anti-gay resolutions in the 1970s defining homosexuality as “deviant” and a “sin.” But under the new fundamentalist rule, the SBC became even more vehemently anti-gay and anti-trans.
In 1988, the SBC called homosexuality a “perversion of divine standards,” “a violation of nature and natural affections,” “not a normal lifestyle,” and “an abomination in the eyes of God.”
In 1991, they decried government funding for the National Lesbian and Gay Health Conference as a violation of “the proper role and responsibility of government” because of its encouragement of “sexual immorality.”
The gender and sexuality topic, however, that has received the most attention from the convention has been marriage equality. Since 1980, the SBC has passed 22 resolutions that touch on same-sex marriage.
The SBC passed its first resolution against same-sex marriage in 1996 after the Hawaii Supreme Court indicated the possibility it could rule in favor of same-sex marriage. The court never decided the issue because Hawaii’s Legislature passed a bill defining marriage as between a man and a woman.
In 1998, the convention amended its faith statement, the Baptist Faith and Message, to define marriage as “the uniting of one man and one woman in covenant commitment.”
The denomination passed its next resolution in 2003 in response to the Vermont General Assembly’s establishment of civil unions. The resolution opposed any efforts to validate same-sex marriages or partnerships, whether legislative, judicial or religious.
In 2004, after the Massachusetts Supreme Court allowed same-sex marriages in that state, the convention called for a constitutional amendment to define marriage as between a man and a woman. It reiterated this call in 2006.
When the California Supreme Court struck down the state’s ban on same-sex marriage, the SBC passed another resolution in 2008 warning of the dire consequences of allowing lesbians and gay men to marry, as people from other states would marry in California and return home to challenge their states’ marriage bans.
In 2011, the convention offered its support for the Defense of Marriage Act, followed in 2012 by a denunciation of the use of civil rights language to argue for marriage equality.
Delegates at a Southern Baptist Convention meeting in 2012 in New Orleans. AP Photo/Gerald Herbert
The resolution argues that homosexuality “does not qualify as a class meriting special protections, like race and gender.”
When Obergefell was before the Supreme Court, the SBC called on the court to deny marriage equality. After Obergefell was decided in favor of same-sex marriage, the convention asked for Congress to pass the First Amendment Defense Act, which would have prohibited the federal government from discriminating against people based on their opposition to same-sex marriage. That same resolution also offers its support to state attorneys general challenging transgender rights.
Opposing transgender people
Messengers of the Southern Baptist Convention listen to remarks by its president, Clint Pressley, during the 2025 SBC annual meeting in Dallas. AP Photo/Richard W. Rodriguez
This was not the first time the SBC had spoken about transgender issues. As early as 2007, the denomination expressed its opposition to allowing transgender people to constitute a protected class in hate crimes legislation.
In 2014, the convention stated its belief that gender is fixed and binary and subsequently that trans people should not be allowed gender-affirming care and that government officials should not validate transgender identity.
In its resolution opposing the proposed Equality Act, which would have added sexual orientation and gender identity as protected classifications, the SBC argued, “The Equality Act would undermine decades of hard-fought civil rights protections for women and girls by threatening competition in sports and disregarding the privacy concerns women rightly have about sharing sleeping quarters and intimate facilities with members of the opposite sex.”
This most recent resolution from June 2025 returns to the themes of fixed and binary gender, a divinely sanctioned hierarchical ordering of gender, and marriage as an institution limited to one woman and one man. While claiming these beliefs are “universal truths,” the resolution argues that Obergefell is a “legal fiction” because it denies the biological reality of male and female.
Going further, this resolution claims that U.S. law on gender and sexuality should be based on the Bible. The duty of lawmakers, it states, is to “pass laws that reflect the truth of creation and natural law – about marriage, sex, human life, and family – and to oppose any law that denies or undermines what God has made plain through nature and Scripture.”
By taking no action on sexual abuse while focusing its efforts on issues of gender and sexuality, the convention affirmed its decades-long conservative trajectory. It also underlined its willingness to encourage lawmakers to impose these standards on the rest of the nation.
Susan M. Shaw does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: Africa Press Organisation – English (2) – Report:
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On June 12, 2025 the Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Arab Republic of Egypt, Sergei Terentyev, met with the First Deputy Minister of Investment and Foreign Trade of Egypt – Head of the Egyptian Commercial Service, Abdelaziz Al-Sherif.
The sides discussed the preparation of the 8th meeting of the Belarusian-Egyptian Joint Trade Commission in Minsk, and the Roadmap for the development of trade and economic cooperation between the Republic of Belarus and the Arab Republic of Egypt.
A special attention was paid to the issues of industrial cooperation in accordance with the agreements reached by the Heads of Governments of Belarus and Egypt in April 2024, including the resumption of work on assembly plants for Belarusian agricultural machinery in Egypt.
– on behalf of Ministry of Foreign Affairs of the Republic of Belarus.
Source: Africa Press Organisation – English (2) – Report:
Coca-Cola (www.Coca-ColaCompany.com) is proud to present Coca-Cola Fest Luanda, a flagship brand experience hosted by Coca-Cola in Angola. This vibrant celebration of music, food, and culture will take place on Saturday, June 21, 2025, starting at 4:00 PM, at the iconic Luanda Bay Waterfront, in front of the Fortaleza Shopping Center.
Coca-Cola Fest Luanda is designed to reinforce Coca-Cola’s enduring presence in Angola while celebrating the dynamic spirit of Angolan youth and culture.
Coca-Cola Fest Luanda will offer attendees a multi-sensory journey, featuring:
Live performances by some of Angola’s most exciting music talents, alongside a host of international DJs.
Diverse culinary offerings from local restaurants and food entrepreneurs, reflecting Angola’s rich culinary heritage and international fusion.
Interactive brand experiences and activations designed to create joyful, shareable moments for friends and families.
“Coca-Cola Fest Luanda is more than a celebration, it’s a tribute to unity, diversity, and the cultural energy of Angola,” said Racheal Kanoti, General Manager, Coca-Cola Angola. “We’re bringing together people, flavors, and rhythms that define this incredible country. It’s a moment to enjoy the magic of food, music, and human connection with the unmistakable taste of an ice-cold Coca-Cola.” She added.
In keeping with Coca-Cola’s aim to help reduce packaging waste, the company is partnering with Angolan recycling organization, Glopol, to support the collection of beverage packaging during the event.
Coca-Cola Fest Luanda will offer a day filled with flavor, music, and inspiration. Whether with friends or family, attendees will have the perfect opportunity to celebrate, connect, and refresh together. The festival will feature an exciting lineup of fun-filled games and interactive activities designed to bring people closer and highlight the vibrant spirit of the community. Participants will enjoy engaging challenges, lively competitions, and memorable moments that will capture the energy and joy of this unique event.
– on behalf of Coca-Cola.
For further information, please contact: Paula Lima plima@coca-cola.com
Follow on Social Media: Instagram: https://apo-opa.co/4mZvgxN Facebook: https://apo-opa.co/4ebqrgT LinkedIn: https://apo-opa.co/43XahD5
About The Coca-Cola Company: The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.Coca-ColaCompany.com.
Source: Africa Press Organisation – English (2) – Report:
The Orange group and the Agence Française de Développement (AFD) Group announce the signing of a framework agreement at VivaTech 2025 making Orange the reference partner in digital matters.
This unprecedented agreement with a telecom operator aims to strengthen cooperation between the two groups to improve access to digital services, support innovation and accelerate environmental transition in their common areas of intervention.
Christel Heydemann, CEO of Orange (www.Orange.com), Rémy Rioux, CEO of AFD Group, and Françoise Lombard, CEO of Proparco, signed an innovative partnership agreement to jointly accelerate digital inclusion and sustainable digital development. The three-year agreement provides a structured framework for cooperation on expertise and the emergence of joint projects internationally. It covers 17 countries in the Africa-Middle East region where Orange is present, as well as Moldova and French overseas departments. Priority themes include:
Digital inclusion of populations through the deployment of strategic infrastructure (ex. backbone equipment of very high-speed networks and submarine cables);
Financial and energy inclusion, and access to e-services (agriculture, health, education), especially in rural areas;
Reduction of the environmental footprint of digital technology;
Training and professional integration through digital tools;
Support for innovation and entrepreneurship;
Forward-looking discussions on ethical data use, security and artificial intelligence for development.
As a multi-service operator and key partner in the digital transformation of the Africa-Middle East region, Orange has already opened 16 Orange Digital Centers and 32 Orange Digital Center Clubs in partnership with universities. These are free and accessible to all, and are designed to promote digital inclusion among youth and foster entrepreneurship.
AFD Group supports public authorities, businesses, civil society and innovative ecosystems in their transition toward a more open, accessible and responsible digital world. It works alongside its partners to leverage digital solutions to achieve their Sustainable Development Goals (SDGs).
On the basis of this experience, Orange and AFD Group have worked together for over 20 years on various projects, such as supporting the deployment of fixed and mobile telecom networks for Orange subsidiaries in Jordan and Senegal, training youth in digital tools through Orange Foundations in Côte d’Ivoire, Guinea, Madagascar and Tunisia, and supporting coding training programs at Orange Digital Centers in Jordan.
This new partnership will strengthen the synergies and increase the dissemination of best practices and innovations in the digital sector. It reflects a renewed ambition aimed at striving towards digital equality and SDG achievement through innovative solutions and collaborative initiatives.
On signing the agreement, Christel Heydemann, CEO of Orange, stated:“This strategic partnership with AFD Group marks an important milestone in our collaboration. I look forward to continuing this dynamic of international cooperation for a more inclusive and sustainable digital future, reinforcing Orange’s commitment to expanding access to digital technology everywhere we operate. “
Rémy Rioux, CEO of AFD Group, said: “AFD Group believes that digital technology is a powerful lever for transforming a diverse range of sectors, including public services, education, health and entrepreneurship. This first strategic partnership with Orange exemplifies this shared ambition to support the emergence of sovereign digital services at a local level by investing in solutions that are innovative, open and responsible.”
Françoise Lombard, CEO of Proparco, added: “Proparco, AFD Group’s subsidiary dedicated to the private sector, is fully committed to strengthening its partnership with Orange, both strategically and operationally. By combining our networks, expertise and resources, we are working with determination to improve digital access for all in France and emerging countries.”
– on behalf of Orange Middle East and Africa.
Press contacts: Flaminia le Maignan: flaminia.lemaignan@orange.com Service presse AFD: _afdpresse@afd.fr
Follow us on: X: @ orangegrouppr (https://apo-opa.co/4jKVTnh)
About Orange: Orange is one of the world’s leading telecommunications operators with revenues of 40.3 billion euros in 2024 and 125,800 employees worldwide at 31 March 2025, including 69,700 employees in France. The Group has a total customer base of 294 million customers worldwide at 31 March 2025, including 256 million mobile customers and 22 million fixed broadband customers. These figures account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present in 26 countries (including non-consolidated countries).
Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan “Lead the Future”, built on a new business model and guided by responsibility and efficiency. “Lead the Future” capitalizes on network excellence to reinforce Orange’s leadership in service quality.
Orange is listed on Euronext Paris (symbol ORA).
For more information on the internet and on your mobile: www.Orange.com, www.Orange-Business.com and the Orange News app.
Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.
Source: United States Senator for Massachusetts – Elizabeth Warren
June 13, 2025
Video of Exchange (YouTube)
Washington, D.C. — At a hearing of the Senate Finance Committee, U.S. Senator Elizabeth Warren (D-Mass.) questioned Secretary of the Treasury Scott Bessent on Republicans’ hypocrisy on raising the deficit with Trump’s “big, beautiful bill.”
Senator Warren highlighted the hypocrisy of Secretary Bessent’s support for cutting crucial social programs to decrease the national debt, while also supporting adding trillions to the deficit to give billionaires and giant corporations tax cuts.
Secretary Bessent, with no evidence, said he believed the tax bill would decrease the deficit.
Senator Warren pointed out that “[e]very credible, independent expert agrees that Trump and the Republicans’ ‘Big Beautiful Bill’ will add trillions to the national debt and would not even come close to paying for itself…Even Elon Musk and the Wall Street Journal are criticizing the bill for ballooning the national debt.”
The nonpartisan Congressional Budget Office has revealed the Republican tax bill would increase the deficit by $3 trillion. Secretary Bessent said only that he “[doesn’t] agree with the CBO.”
“[W]hy is the national debt so very important that you’re trying to kick 16 million people off their health insurance, but increasing the national debt doesn’t seem to matter if you’re cutting taxes for billionaires and billionaire corporations?” Senator Warren asked.
Bessent attempted to downplay the health care cuts by saying the “figure is overstated by 5.1 million,” and falsely claimed Medicaid is granted to undocumented people.
“[T]he part that troubles me the most is that the Secretary is deeply worried about the deficit and is willing to knock 16 million, or as he says, ‘merely 11 million,’ people off their health care [because it] matters so much, but it doesn’t matter so much if you’re cutting taxes for billionaires…I think that’s wrong,” concluded Senator Warren.
Transcript: Hearing on the President’s Fiscal Year 2026 Budget for the Department of Treasury and Tax ReformSenate Finance CommitteeJune 12, 2025
Senator Elizabeth Warren: Thank you, Mr. Chairman. So I want to ask about the Republican “Big, Beautiful Bill,” which will knock about 16 million off their healthcare coverage and cut programs that keep groceries cheaper for millions of families, in order to try to pay for about $4 trillion in tax giveaways, that are mostly going to be sucked up by millionaires, billionaires, and wealthy corporations.
So, Secretary Bessent, I’d like to start with a very simple question: will this bill increase or decrease the deficit?
Mr. Scott Bessent, Secretary of the Treasury: There are varying scoring on that, Senator Warren.
Senator Warren: You’re the Secretary of the Treasury, so I’m asking you: what is your view? Will this bill increase or decrease the deficit?
Secretary Bessent: It is my view that over the ten-year window, it will decrease.
Senator Warren: You know, do you have anybody who agrees with you on this?
Secretary Bessent: Yes, ma’am.
Senator Warren: Let me ask my question.
Secretary Bessent: Okay.
Senator Warren: Every credible, independent expert agrees that Trump and the Republicans’ “Big Beautiful Bill” will add trillions to the national debt and would not even come close to paying for itself. The nonpartisan Congressional Budget Office, the Penn Wharton Budget Model, and the Yale Budget Lab all agree on this, and they are looking at ten-year windows, thank you. So do the conservative Tax Foundation and Committee for a Responsible Federal Budget—conservative groups.
Even Elon Musk and the Wall Street Journal are criticizing the bill for ballooning the national debt. The only people who are saying publicly that it is not going to add to the national debt are you, Donald Trump, the Republicans in Congress. Do you have an independent group that has put forward numbers that disagrees with all of these conservative groups and disagrees with the Wall Street Journal on this?
Secretary Bessent: Well, Senator, it’s interesting to see you aligned with Elon Musk, but if I might—
Senator Warren: You’re no more shocked than I am.
Secretary Bessent: If we want to take the full Congressional Budget scoring, they predict, and I don’t agree with their methodology, they predict a $2.4 trillion deficit, but—
Secretary Warren: Okay, so the answer to the question is yes.
Secretary Bessent: No, no, no. But may I finish? They include that, but they’ve also scored $2.8 trillion in tariff income. So even, even in Washington, D.C. math, that is a $400 billion surplus.
Senator Warren: Okay, so let me make sure I understand. This bill, you admit, will increase the deficit by $2.4 trillion, but you think there will be another bill and another set of agreements that somehow materialize. Haven’t materialized so far, don’t have any statutory authority, but that will make up the difference.
So the answer to the original question, will this bill increase or decrease the deficit? I think you just said it will increase. This bill increases the deficit, is that right?
Secretary Bessent: I will use all the CBO scoring, and you can’t take one without the other. I don’t agree with the CBO.
Senator Warren: One is the law that we are scoring, the bill that is in front of us. We don’t have a tariff bill in front of us to score. Mr. Secretary, let me go on to the second question. You have said that government spending is, quote, “out of control.” You have also called government spending, quote, “unsustainable.” In fact, in the name of fiscal responsibility, you’re working with the Republicans on this “big, beautiful bill” to pass the biggest cuts to Medicaid and the Affordable Care Act in American history.
So, Mr. Secretary, help me understand here: why is the national debt so very important that you’re trying to kick 16 million people off their health insurance, but increasing the national debt doesn’t seem to matter if you’re cutting taxes for billionaires and billionaire corporations?
Secretary Bessent: Well, first of all, a huge portion of this goes to family-owned businesses that are passed through entities that are below that level, Senator, and I am sure you share my goals of Main Street prosperity.
Senator Warren: You know, I’m glad to do tax cuts for people of modest means. The question I’m asking is, why does the deficit not matter to you when we’re talking about knocking 16 million people off their health care? But it matters not—It does matter to you if we’re knocking people off their health care, but not if—
Secretary Bessent: Well, first of all, that figure is overstated by 5.1 million. That is an amount not attributable to provisions in this bill.
Senator Warren: So you think it’s okay to knock ten million people off.
Secretary Bessent: Well, first of all, let’s set that straight. Work requirements account for 8 million of CBO’s claim number. Again, we’re creating an economy that promotes and rewards—
Senator Warren: So it’s clear, Secretary Bessent, you don’t want to answer the question.
Secretary Bessent: Senator, I am answering.
Senator Warren: No, you’re not.
Secretary Bessent: And what I want is for Medicaid to be used for mothers and children as it was meant, not for 1.4 million illegal aliens, not for able-bodied people—
Senator Warren: Medicaid is not used for people who are not documented. Mr. Chairman, I just want to say here the part that troubles me the most is that the Secretary is deeply worried about the deficit and is willing to knock 16 million, or as he says, “merely 11 million,” people off their health care—matters so much, but it doesn’t matter so much if you’re cutting taxes for billionaires, then it’s okay to run up a big deficit. I think that’s wrong.
The Association Française de Science Économique (AFSE) announced the 2025 laureate of its Prix Edmond Malinvaud: Antoine Ferey.
The AFSE (French Economic Association) is a nonprofit organization founded in 1950. It aims at promoting exchange of knowledge and participation of its members in public debates on economic policies. It is open to all economists, whether they work in universities, public research organizations, government bodies or private companies.
Every year the AFSE awards a Prize for the best paper published in an indexed EconLit, peer-reviewed journal in the past two years by a young economist affiliated to a French laboratory.
The jury wanted to shed light on the topic of optimal non-linear tax systems, in particular taxation of savings which is much less investigated than taxation of income.
“In their paper, Antoine Ferey and his co-authors put forward a comprehensive approach to quantifying optimal commodity and savings taxes by developing sufficient statistics that capture various sources of income heterogeneity, extending the standard Atkinson-Stiglitz framework, and providing practical guidance for policy design and empirical estimation.”
This is the third time that Antoine’s work has been honoured in as many months: earlier this year he became a CESifo Distinguished Fellow for his paper Redistribution and Unemployment Insurance (read abstract) and the Aix-Marseille School of Economics (AMSE) awarded him the Carine Nourry Best Doctoral Dissertation Prize.
Antoine also joins a growing list of faculty members whose papers have been awarded the Malinvaud Prize: Alfred Galichon, Isabelle Mejean, Clément de Chaisemartin, Johannes Boehm, and Michele Fioretti.
Congratulations Antoine !
(credits: Alexis Lecomte)
Antoine Ferey joined the Department of Economics in 2023 as an Assistant Professor (tenure track). He is also a Research Affiliate of the CESifo Network and of the Institut des politiques publiques. During the Spring Semester, he has been invited by Harvard University to teach a part of their public economics sequence to PhD students.
Prior to joining our faculty, he was an Assistant Professor at the Ludwig Maximilian University of Munich (LMU). He received his PhD in Economics from the Centre de recherche en économie et statistique (CREST) and Ecole Polytechnique in 2021, for which he received two PhD Dissertation Awards from the Association française de science économique (AFSE) and from Institut Polytechnique de Paris (IP Paris).
Daniela Espinal Fondeur and Gabrijela Papec have been selected to be part of the 150 students from 38 countries of the 10th cohort of Schwarzman Scholars, one of the most competitive scholarship programmes in the world – with an acceptance rate of below 3%. With its first anniversary coming up in 2026, this programme has reached this year the biggest number of applications and has admitted its 100th country represented, thanks to Sciences Po student Gabrijela Papec, from Croatia.
This scholarship offers the equivalent of €150,000 to each recipient, with automatic acceptance to the best university in Asia (Times Higher Education World University Rankings), Tsinghua University in Beijing, China, for a one-year master’s degree on a campus reserved exclusive to the 150 graduates, the Schwarzman College. The core purpose of this programme can be summed up in this quote from its founding trustee, Stephen A. Schwarzman, “Those who will lead the future must understand China today”.
Meet this year’s two Sciences Po recipients, Daniela Espinal Fondeur, a graduate from the Paris School of International Affairs (PSIA) and Gabrijela Papec, a master’s student from the Law School.
Who are you?
Daniela E. F.: I was born and raised in the Dominican Republic, where I studied economics as an undergraduate student. In 2022, I joined the Master in International Governance and Diplomacy at Sciences Po, and graduated in June 2024. My interest lies in international cooperation. I undertook internships in embassies, UNESCO, and the Dominican Republic Consulate in Paris. I wish to become a diplomat in the near future.
Gabrijela P.: I am from Croatia. I began my journey at Sciences Po as an undergraduate student on the Reims campus, and its North America minor – just like Felipe Chertouh (2024 Schwarzman Scholar, article in French). I have a strong interest in the way advocacy work can be intertwined with human rights and international law, which grew even stronger after a summer internship at Genocide Watch. After a year as a master’s student in Economic Law, I decided to take a gap year and applied to the Schwarzman Scholar programme.
What are you expecting from this programme?
Daniela: I am really excited to benefit from this unique opportunity. China is so remote from the Dominican Republic, it is priceless to learn about a country while living there. I aim to build a bridge between China and my country through an internship at the Dominican Embassy in Beijing. Considering all the turmoil that’s happening in our world, it is incredible to go through that experience.
Gabrijela: Getting a deep cultural understanding of the way international law is applied in China – a gigantic country which holds much power over other countries – is very important. I feel that China needs to be included in the very making of international law and policies, or they will never work out. I already experienced working in Asia, for a South Korean company, and I can’t wait to further enrich my skill set.
How was your experience at Sciences Po ?
Daniela: It was my first time away from home! I met remarkable colleagues, professors, and had a unique experience as a Paris Peace Forum volunteer, assigned to the Montenegro delegation. You can access many academic opportunities, such as the European Forum Alpbach in Austria. One of my favourite courses was about great strategies in diplomacy, past and present, taught by Bruno Stagno Ugarte, Minister of Foreign Affairs of Costa Rica. I made the most out of my Sciences Po experience by joining different clubs as well, in the fields of diplomacy and debate.
Gabrijela: Reims being quite a small city, I found it easy to meet people, who came from everywhere. The course that made a lasting impression on me was about conflict-related sexual violence, taught by David Eichert. This excellent course focused on the way international criminal law evolved to include sexual violence. I do believe that I, too, can change the course of history. I used to complain about the way Sciences Po gave me so much work, but I can see now that it prepared me to think for myself, to be responsible. It enabled me to apply to this programme, filling in a comprehensive file.
What advice would you give to sciences po students applying to the Schwarzman Scholars programme?
Daniela: Be open to getting out of your comfort zone, to consider living in other places that can challenge you, mentally and culturally. It can turn into the greatest opportunity for growth at all level.
A Schwarzman recipient must meet three main criteria :
demonstrated leadership,
intellect,
exemplary character and integrity.
Gabrijela: Be open to yourself and who you want to be, but also, try to be the best student you can be.
Both: Reach out to previous scholars, ask for help. Sciences Po has an alumni base for this programme now, rely on it, on its sense of community. We can’t wait to meet the 1,300+ programme graduates in 2026 for its 10th anniversary.
The Securities and Exchange Commission today announced the appointment of Jamie Selway, an accomplished financial markets leader, as Director of the Division of Trading and Markets, effective June 17, 2025.
“I’d like to welcome Jamie to the SEC,” said SEC Chairman Paul S. Atkins. “He brings decades of industry experience in market structure and across multiple asset classes to this critical role. I look forward to working with him to protect our markets and ensure the agency’s regulations balance costs and benefits.”
Mr. Selway was most recently a partner at Sophron Advisors, where he advised clients on capital markets issues. He was also a board member at Protego Holdings, board chair at AllofUs Financial and Skew, and served as an advisor to multiple financial technology companies. He previously was a managing director and head of electronic brokerage at Investment Technology Group, a global institutional broker. He co-founded institutional brokerage White Cap Trading, where he was a managing director and chairman. Earlier in his career, he was chief economist at Archipelago, worked in Equity Derivatives Research at Goldman Sachs, and was associate director of research at the National Association of Securities Dealers, which became the Financial Industry Regulatory Authority.
“Chairman Atkins is bringing about a ‘new day’ at the SEC,” said Mr. Selway. “I thank him for selecting me to lead Trading and Markets at this exciting and pivotal time. Together, we will promote the SEC’s mission and enable innovation, to the benefit of our nation’s investors.”
Mr. Selway has served on a number of industry committees and previously testified at Congressional and SEC roundtables. He is a member of the National Organization of Investment Professionals (NOIP) and the Investment Traders Association of Philadelphia, and has served as chair of NOIP and the NOIP Foundation. He previously was associate editor of the Journal of Trading.
Mr. Selway received an M.S. in financial mathematics from the University of Chicago and a B.A. in mathematics and European history from Washington & Lee University.
The Rhode Island Infrastructure Bank (RIIB) and the Rhode Island Department of Health (RIDOH) are seeking public comment on the proposed State Fiscal Year (SFY) 2026 Intended Use Plan (IUP) for the Drinking Water State Revolving Fund (DWSRF), which includes the proposed SFY 2026 Project Priority List (PPL).
The proposed document can be found at the link below, on RIDOH’s DWSRF webpage (https://health.ri.gov/drinking-water-quality/drinking-water-state-revolving-loan-fund), on RIIB’s website (https://www.riib.org/), by calling 401-453-4430 weekdays from 8 a.m. to 4 p.m., or by writing to: Rhode Island Infrastructure Bank 275 Promenade Street, Suite 301Providence, RI 02908.
The proposed SFY 2026 IUP, including the proposed PPL, was published on June 13, 2025. Written comments on the proposed document should be sent to RIIB at the above address or by email to Suh Walker at swalker@riib.org within thirty (30) days of June 13, 2024.
I have visited Iran twice. Once in June 1980 to witness an unprecedented event: the world’s first Islamic Revolution. It was the very start of my writing career.
The second time was in 2018 and part of my interest was to get a sense of how disenchanted the population was — or was not — with life under the Ayatollahs decades after the creation of the Islamic Republic.
I loved my time in Iran and found ordinary Iranians to be such wonderful, cultured and kind people.
When I heard the news today of Israel’s attack on Iran I had the kind of emotional response that should never be seen in public. I was apoplectic with rage and disgust, I vented bitterly and emotively.
Then I calmed down. And here is what I would like to say:
Just last week former CIA officer Ray McGovern, who wrote daily intelligence briefings for the US President during his 27-year career, reminded me when I interviewed him that the assessment of the US intelligence community has been for years that Iran ceased its nuclear weapons programme in 2003 and had not recommenced since.
The departing CIA director William Burns confirmed this assessment recently. Propaganda aside, there is nothing new other than a US-Israeli campaign that has shredded any concept of international laws or norms.
I won’t mince words: what we are witnessing is the racist, genocidal Israeli regime, armed and encouraged by the US, Germany, UK and other Western regimes, launching a war that has no justification other than the expansion of Israeli power and the advancement of its Greater Israel project.
This year, using American, German and British armaments, supported by underlings like Australia and New Zealand, the Israelis have pursued their genocide against the Palestinians in both the West Bank and Gaza, and attacked various neighbours, including Lebanon, Syria, Yemen, Iraq and Iran.
They represent a clear and present danger to peace and stability in the region.
Iran has operated with considerable restraint but has also shown its willingness to use its military to keep the US-Israeli menace at bay. What most people forget is that the project to secure Iran’s borders and keep the likes of the British, Israelis and Americans out is a multi-generational project that long predates the Islamic Revolution.
I would recommend Iran: A modern history by the US-based scholar Abbas Amanat that provides a long-view of the evolution of the Iranian state and how it has survived centuries of pressure and multiple occupations from imperial powers, including Russia, Britain, the US and others.
Hard-fought independence The country was raped by the Brits and the Americans and has won a hard-fought independence that is being seriously challenged, not from within, but by the Israelis and the Western warlords who have wrecked so many countries and killed millions of men, women and children in the region over recent decades.
I spoke and messaged with Iranian friends today both in Iran and in New Zealand and the response was consistent. They felt, one of them said, 10 times more hurt and emotional than I did.
Understandable.
A New Zealand-based Iranian friend had to leave work as soon as he heard the news. He scanned Iranian social media and found people were upset, angry and overwhelmingly supportive of the government.
“They destroyed entire apartment buildings! Why?”, “People will be very supportive of the regime now because they have attacked civilians.”
“My parents are in the capital. I was so scared for them.”
Just a couple of years ago scholars like Professor Amanat estimated that core support for the regime was probably only around 20 percent. That was my impression too when I visited in 2018.
Nationalism, existential menace Israel and the US have changed that. Nationalism and an existential menace will see Iranians rally around the flag.
Something I learnt in Iran, in between visiting the magnificent ruins of the capital of the Achaemenid Empire at Persepolis, exploring a Zoroastrian Tower of Silence, chowing down on insanely good food in Yazd, talking with a scholar and then a dissident in Isfahan, and exploring an ancient Sassanian fort and a caravanserai in the eastern desert, was that the Iranians are the most politically astute people in the region.
Many I spoke to were quite open about their disdain for the regime but none of them sought a counter-revolution.
They knew what that would bring: the wolves (the Americans, the Israelis, the Saudis, and other bad actors) would slip in and tear the country apart. Slow change is the smarter option when you live in this neighbourhood.
Iranians are overwhelmingly well-educated, profoundly courteous and kind, and have a deep sense of history. They know more than enough about what happened to them and to so many other countries once a great power sees an opening.
War is a truly horrific thing that always brings terrible suffering to ordinary people. It is very rarely justified.
Iran was actively negotiating with the Americans who, we now know, were briefed on the attack in advance and will possibly join the attack in the near future.
US senators are baying for Judeo-Christian jihad. Democrat Senator John Fetterman was typical: “Keep wiping out Iranian leadership and the nuclear personnel. We must provide whatever is necessary — military, intelligence, weaponry — to fully back Israel in striking Iran.”
We should have the moral and intellectual honesty to see the truth: Our team, Team Genocide, are the enemies of peace and justice. I wish the Iranian people peace and prosperity.
Eugene Doyle is a writer based in Wellington. He has written extensively on the Middle East, as well as peace and security issues in the Asia Pacific region. He contributes to Asia Pacific Report and Café Pacific, and hosts the public policy platform solidarity.co.nz.
The UK government’s investment of around £14 billion in a new nuclear power plant marks a big economic shift for the country’s approach to energy.
The Sizewell C plant in Suffolk will be the second of a new generation of reactors to be built in the country, after Hinkley Point C in Somerset, which is expected to open in 2031.
French energy firm EDF is building Hinkley and will probably end up building Sizewell too. But it seems that the British government is finally prepared to take on the considerable financial risk which these projects bring.
Previously it has preferred to look elsewhere. China, notably, has a longstanding appetite for investment in British infrastructure. (Although in 2022, the UK government bought back China’s stakes in Sizewell C amid geopolitical concerns.)
But the money has to come from somewhere. And after EDF announced it wanted to limit its participation in Sizewell C – and in particular, exposure to the risk of cost overruns – the UK government has stepped in.
EDF has has already lost a lot of money building Hinkley Point C. When construction began in 2017, costs were estimated at £18 billion.
At the time, the UK government agreed to pay a set rate for the electricity produced so the French company could recoup its cost and make a reasonable profit. That price was perceived by some as as extremely high and remains higher than current wholesale prices.
But as construction costs have more than doubled, the project has generated an estimated loss of around £13 billion for EDF. The company hopes to keep construction costs down this time, after similar costs overruns in projects it completed in France and in Finland.
But now Sizewell C will only progress because the British government has said it will take on almost all of the financial risk.
In doing so, the UK is not an outlier. In France, China and South Korea, nuclear power plants are built by state-owned companies. In the US, private companies are waiting for public funding to finance Donald Trump’s dream of a nuclear renaissance.
And perhaps it’s an expense the state should be willing to take on.
And if the long-term goal is to eliminate the need for fossil fuels, it means all electricity will need to come from a mixture of renewables, batteries and nuclear. Electricity could then become much cheaper than it is now.
But building the means of creating this power comes with varying degrees of risk.
Solar, for example, is not that risky. Panels are usually imported, there are no major safety concerns, and investors can roughly predict how much sun there will be in a typical year.
For nuclear energy, production is also predictable. But the time it will take to complete construction of a plant and the associated costs are not.
Part of this is down to choice. UK regulations around nuclear energy are complex and strict, and other countries build faster and cheaper. This may be why globally, solar power is attracting much more investment than other sources of energy.
Political energy
But this does not mean governments should ignore the nuclear option. One of the main reasons governments are useful to society is that they can afford to take risks that private investors cannot, and finance long term innovation.
This in turn can lead to much greater strategic and geopolitical autonomy. While solar panels and batteries are getting ever cheaper, the vast majority of production is in China.
Domestic production of nuclear allows for greater diversity in energy sourcing, and arguably from some more predictable partners. The key component, uranium, can be found in large quantities in places like Canada or Australia, or directly reused.
Research suggests that nuclear energy may be particularly suited to feed the needs of digital datacentres and artificial intelligence.
Meanwhile, the government also hopes to get small nuclear reactors from domestic producer Rolls Royce which could be built in factories at a much more predictable cost. Russia and China have each already built this kind of reactor.
No one knows if fusion will ever be possible. It is the kind of uncertain, incredibly expensive projects (with potentially massive returns) that pretty much no private investor would risk looking at.
But again, it is the kind of bet only governments can take. For nuclear power, for reasons of scale, risk and uncertainty, is mostly a government business – and ultimately a political choice.
It will take a long time to know if the decision to spend taxpayers’ money on Sizewell C was the right way to respond to the country’s energy needs. But ending reliance on private or foreign financing for nuclear projects could one day be seen as a positive reaction.
Don’t have time to read about climate change as much as you’d like?
Renaud Foucart 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.
Strengthening economic and trade relations will be at the core of Deputy President Paul Mashatile’s working visit to Russia.
According to the Deputy President’s Office, the trip will focus on enhancing cooperation in key sectors, including agriculture, automotive, energy, and mining, as well as collaboration in science and technology.
The working visit set for 17-21 June in Moscow and St. Petersburg, will involve high-level engagements and activities focused on economic diplomacy.
In Moscow, Deputy President Mashatile will meet with Prime Minister Mikhail Mishustin to discuss cooperation in the areas of economy, trade, and energy.
The Deputy President will meet with several high-ranking officials, including President Vladimir Putin, Valentina Matvienko, the Chairman of the Russian Federation Council, and Vyacheslav Volodin, the current Chairman of the State Duma, which is the lower house of the Russian Parliament.
While in Moscow, the Deputy President will lay a wreath at the memorial site honouring South Africa’s liberation heroes, John Beaver (JB) Marks and Moses Kotane.
Following this, he will participate in the 28th St. Petersburg International Economic Forum (SPIEF2025).
This year’s forum will be held from 19 to 21 June, under the theme: “Shared Values: The Foundation of Growth in a Multipolar World.”
The Deputy President will take part in the plenary session of SPIEF2025 while he has also received an invitation to speak at the Russia-Africa Business Dialogue.
In addition, he is scheduled to deliver a public lecture at St. Petersburg State University on the topic: “South Africa’s G20 Presidency in a Rapidly Changing Geopolitical Environment.”
He will address attendees at the opening of the South African Trade and Investment Seminar.
“The St. Petersburg leg of the visit is expected to leverage on promoting South Africa’s trade relations and South Africa as an investment destination.”
According to the Deputy President’s Office, this trip will be his first visit to Russia since he took office under the seventh administration.
He will be accompanied by a delegation of Ministers and Deputy Ministers who are part of the Economic Sectors, Investment, Employment and Infrastructure Development Cabinet Cluster. – SAnews.gov.za
Secretary for Financial Services & the Treasury Christopher Hui said during his visit to Oslo, Norway, on June 11 and 12 that Hong Kong and Norway could create a powerful synergy to address global challenges with regards to climate change and digital transformation, leveraging the complementary strengths of the two places.
He was also pleased to note that after a meeting with the Norwegian Ministry of Finance, positive progress was made with the early signing of a comprehensive avoidance of double taxation agreement (CDTA) between Hong Kong and Norway.
At a meeting with Norwegian State Secretary of the Ministry of Finance Torgeir Micaelsen and Director General of Tax Law Department Omar G Dajani on June 12, Mr Hui called for an early signing of a CDTA between the two places.
Mr Micaelsen responded positively and indicated that they will look into the matter to expedite the process.
The treasury chief also told the gathering that Hong Kong had just been confirmed by the International Financial Reporting Standards Foundation as being among the initial set of jurisdictions having set a target of fully adopting the ISSB Standards, affirming Hong Kong’s efforts and determination in supporting and promoting a common international language in sustainability disclosures.
To unlock new opportunities in the area of maritime finance, Mr Hui visited Norwegian marine and energy insurance provider Gard, which has a strong presence in Hong Kong’s marine insurance market and provides services to manage maritime risk for clients, by meeting its Chief Customer Officer Line Dahle as well as Vice President and Head of Analytics Sigvald Fossum.
He also met Vice-President and Director of Group Government and Public Affairs of DNV Lars Almklov. The global assurance and risk management company DNV has been recognised by the Hong Kong Monetary Authority as an approved external reviewer for the Green & Sustainable Finance Grant Scheme.
Mr Hui told the management of the two companies that Hong Kong and Norway possess complementary strengths that can create a compelling case for financial co-operation. While Norway’s maritime industry is the cornerstone of its economy, Hong Kong’s maritime services industry is also a valued brand in the international arena.
Joint ventures in maritime insurance could combine Norway’s expertise in marine risk management with Hong Kong’s accessibility, creating comprehensive solutions for the sector and addressing the new demands arising from geopolitical and climatic challenges.
He highlighted that Hong Kong has a sophisticated ecosystem for ship financing and leasing, supported by tax incentives and its strategic location along global trade routes.
On June 12, Mr Hui paid a courtesy call to Chinese Ambassador Extraordinary & Plenipotentiary to the Kingdom of Norway Hou Yue.
He also had a meeting with Director of Politics & Society of Finance Norway Jan Erik Fane. Finance Norway is the industry organisation for the financial sector in Norway, representing banks, insurance companies and other financial institutions on regulatory, policy and industry developments.
Mr Hui noted that the Norwegian sovereign fund is one of the largest funds in the world and is positioned as a pioneer in responsible investing with a strong emphasis on environmental, social and governance principles.
He said that the shared focus of Hong Kong and Norway on sustainability creates significant opportunities for collaboration.
At a dinner reception co-organised by the Hong Kong Economic & Trade Office, London, and the Norway-Hong Kong Chamber of Commerce on June 11, Mr Hui said that even though there is a geographical distance of around 8,600 km between Norway and Hong Kong, the two places share more commonalities in the financial market than perceived.
The first one is the commitment to green and sustainable developments. The other commonality is expertise in wealth management.
Mr Hui noted that Norway’s expertise in long-term asset management driven by its sovereign fund aligns seamlessly with Hong Kong’s position as Asia’s premier wealth management centre.
Capitalising on Hong Kong’s advantages of having a solid financial infrastructure and an extensive international client base, abundant co-investment opportunities are available for Norwegian capital in the Asian markets, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area.
OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 13 JUNE 2025 AT 15:40 P.M. EET, MAJOR SHAREHOLDER ANNOUNCEMENT
Notification under Chapter 9, Section 10 of the Securities Market Act:Holdings ofParkanon Säästöpankkisäätiöin Oma SavingsBank Plc decreased below 10 percent
On 13 June 2025, Oma Savings Bank Plc (OmaSp) received a notification under Chapter 9, Section 5 of the Securities Market Act (SMA) from Parkanon Säästöpankkisäätiö (business ID 0136324-1), according to which Parkanon Säästöpankkisäätiö’s holding and voting rights in OmaSp decreased below 10 percent threshold on 12 June 2025.
According to the announcement, Parkanon Säästöpankkisäätiö sr owns 3,330,000 OmaSp shares, corresponding to 9.99 percent of OmaSp’s shares and votes.
OmaSp has one class of shares in which each share has one vote. The total number of shares is 33,317,089.
The holding of Parkanon Säästöpankkisäätiö sr according to the announcement:
% of shares and voting rights (A)
% of shares and voting rights through financial instruments (B)
Total of both in % (A+B)
Total number of shares and voting rights of issuer
Resulting situation on the date on which threshold was crossed or reached
9,99
NA
9,99
33 317 089
Positions of previous notification (if threshold crossed)
10,00
NA
10,00
33 292 771
Notified details of the resulting situation on the date on which the threshold was crossed or reached:
OmaSp is a solvent and profitable Finnish bank. About 600 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.
OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.
BOSTON – Gotbit Consulting LLC (Gotbit), a financial services firm known in the cryptocurrency industry as a “market maker,” was sentenced yesterday in federal court in Boston for criminal charges relating to Gotbit’s fraudulent manipulation of cryptocurrency trading volume on behalf of client cryptocurrency companies.
Aleksei Andriunin, 26, of Russia and Portugal, was sentenced by U.S. District Court Judge Angel Kelley to eight months in prison, to be followed by one year of supervised release. In March 2025, Andriunin pleaded guilty to charges of wire fraud and conspiracy to commit market manipulation and wire fraud. Andriunin was arrested in Portugal on Oct. 8, 2024 and extradited to the United States on Feb. 25, 2025.
As part of its criminal resolution, Gotbit was ordered to forfeit a total of approximately $23 million in seized cryptocurrency. The court also sentenced Gotbit to a term of probation for five years, during which time Gotbit shall cease to exist or operate.
Gotbit and Andriunin were indicted by a federal grand jury on the same charges in October 2024. The indictment also charges two of Gotbit’s directors, Fedor Kedrov and Qawi Jalili.
Gotbit was a well-known “market maker” in the cryptocurrency industry. Between 2018 and 2024, Gotbit provided market manipulation services to create artificial trading volume for multiple cryptocurrency companies, including companies located in the United States and companies whose cryptocurrencies traded on platforms available to investors located in the United States. Andriunin was Gotbit’s Founder and Chief Executive Officer. In a 2019 interview, Andriunin described how he developed a code to “wash trade” cryptocurrencies to artificially inflate trading volume for the purpose of getting cryptocurrencies listed on CoinMarketCap (a website that published information about “trending” cryptocurrencies) and trading on larger cryptocurrency exchanges. Andriunin and Gotbit’s employees marketed these wash trading tactics to prospective clients and explained how Gotbit used multiple accounts to avoid detection of the wash trades on the public blockchain. Gotbit made wash trades worth millions of dollars on behalf of clients and received tens of millions of dollars in payments from clients.
Gotbit admitted that it engaged in manipulative trades to artificially increase the trading price and volume of tokens for clients that included Robo Inu and Saitama. Leaders of those cryptocurrency companies were charged in separate cases unsealed in October 2024.
Gotbit is the third market maker to resolve criminal charges relating to wash trading in the cryptocurrency industry. In October 2024, the founder of MyTrade pleaded guilty in connection with providing an unlawful wash trading service identified through an undercover law enforcement operation. In April 2025, CLS Global FZC LLC was sentenced in connection with offering illegal “volume support” services uncovered by the same operation.
The Securities & Exchange Commission brought a related civil enforcement action against Gotbit alleging violations of the securities laws.
United States Attorney Leah B. Foley and Kimberly Milka, Acting Special Agent in Charge of the Federal Bureau of Investigations, Boston Division made the announcement. Assistant U.S. Attorneys Christopher J. Markham and David M. Holcomb of the Criminal Division prosecuted the case. Assistant U.S. Attorney Carol Head, Chief of the Asset Recovery Unit is handling the forfeiture matter.
Surfshark, a leading provider of VPN services, unveils Surfshark Everlink, an industry-first patented (patents: US11190491B1, US20240080302A1) technology designed to deliver greater VPN connection stability. Surfshark Everlink is a supporting, self-healing infrastructure that ensures continuous VPN connectivity by seamlessly recovering dropped VPN connections. This technology allows users to enjoy a stable VPN connection and minimizes the risk of IP address exposure.
“This technology allows us to improve the most important VPN quality metric – connection stability. While other shiny metrics, such as the number of servers might seem important, connection stability is something that truly makes the difference to the user experience,” says Donatas Budvytis, Chief Technology Officer at Surfshark.
How does Surfshark Everlink work?
Surfshark Everlink is an additional layer of security which helps to recover lost connections. When connected to the VPN, Surfshark user connects not only to the VPN infrastructure, but also to Everlink infrastructure. In case there is a drop of connection, Surfshark Everlink instantly acts as a “self-healing” mechanism and revives user’s connection by reconfiguring the VPN tunnel without having to disconnect and reconnect from the VPN service, protecting the user from potential data exposure.
“Think of a well-known VPN comparison to an encrypted tunnel – if the VPN is a tunnel which secures your traffic, imagine Surfshark Everlink as another one which secures that VPN tunnel. If one connection goes down, you’re automatically switched to another, so you stay connected and secure,” explains Donatas Budvytis.
Surfshark Everlink also ensures that the VPN service for the user remains stable in case of server maintenance repairs. “If, let’s say, we had to shut down some of our servers for maintenance, Everlink would route all traffic to another closest server without any interruptions to user experience.”
More than just convenience: protecting users’ privacy
Budvytis emphasizes that Surfshark Everlink isn’t only essential for seamless connectivity, but is also an important new technology for privacy and security.
“At best, an unstable VPN connection is simply annoying, however, it can also be risky, as an unstable connection can lead to exposed user data. For journalists, activists, whistleblowers and anyone who values online privacy, this can be a significant risk. If the server connection drops out, it could expose the person’s IP address and leave them traceable and vulnerable.”
Budvytis compares the new technology to an already existing, industry-standard Kill Switch. “The main difference between Kill Switch and Surfshark Everlink is that the Kill Switch does exactly what it says on the tin – kills your connection in case of a server failure. To put it simply, if your VPN’s off, you’re offline. And while that’s a good way to stay secure and prevent leaks, we wanted to improve this industry standard and take it to the next level – instead of killing the connection, we want users to stay securely connected and private. Users can still choose to use the Kill Switch feature, but we wanted to offer something in addition to this.”
The Surfshark Everlink technology is enabled by default on WireGuard protocol on all platforms, including iOS, macOS, Windows, Android, and Linux.
Surfshark Everlink was built on a patented technology (patent: US11190491B1, Method and apparatus for maintaining a resilient VPN connection; patent: US20240080302A1, Clustering of Virtual Private Network Servers). Currently holding multiple patents for industry innovation, the company seeks to improve not only on its VPN offering, but also help build a better internet for everyone. Recently, Surfshark launched a free DNS service, offering a more private alternative to default DNS providers.
ABOUT SURFSHARK
Surfshark is a cybersecurity company offering products including an audited VPN, certified antivirus, data leak warning system, private search engine, and tool for generating an alternative online identity. Recognized as a leading VPN by CNET and TechRadar, Surfshark has also been featured on the FT1000: Europe’s Fastest Growing Companies ranking. Headquartered in the Netherlands, Surfshark has offices in Lithuania and Poland. For information on Surfshark’s operations and highlights, read our Annual Wrap-up. For research projects, visit our Research Hub.
LOS ANGELES, June 13, 2025 (GLOBE NEWSWIRE) — Wedbush Fund Advisers today announced that the Dan IVES Wedbush AI Revolution ETF (Ticker: IVES) has exceeded $100 million in assets under management (AUM) within its first 5 trading days.
Built on the proprietary research of Dan Ives, Wedbush Managing Director and Global Head of Technology Research, IVES delivers focused exposure to 30 public companies powering the real-world deployment of artificial intelligence. The portfolio spans AI infrastructure and applications across semiconductors, hyperscalers, cybersecurity, cloud, robotics, and consumer platforms, forming a diversified yet high-conviction AI basket grounded in fundamental research.
“Wedbush’s entry into Investment Management is a natural strategic expansion for the firm,” said Kevin White, EVP and Senior Advisor, Head of Investment Management at Wedbush Financial Services. “We are committed to delivering bespoke, cutting-edge, research-driven investment opportunities for our Global Family Office Services, Wealth and RIA clients. IVES is simply our beginning.”
“Crossing the $100 million mark in its first week is a clear signal that investors are looking for targeted, high-conviction access to the AI ecosystem,” said Cullen Rogers, Chief Investment Officer at Wedbush Fund Advisers. “We’re grateful to the early ETF investors for validating both the strength of Dan Ives’ research and the growing appetite for thematically precise strategies.”
IVES represents a unique extension of Wedbush’s longstanding technology expertise into the ETF market. Its early success reflects the demand for differentiated research applied through a liquid, cost-effective investment vehicle.
About Wedbush Fund Advisers, LLC
Wedbush Fund Advisers launched in 2024 to build on Wedbush’s 70-year legacy of market insight, innovation, and client trust. Our mission is to design forward-thinking investment strategies that reflect the evolving nature of markets and investor priorities. Backed by a seasoned team with decades of asset management experience, we are committed to building a trusted platform that extends Wedbush’s tradition of excellence into the next era of investment innovation.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.
Carefully consider the Fund’s investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds’ prospectuses or, if available, the summary prospectuses which may be obtained by visiting www.wedbushfunds.com. Read the prospectus carefully before investing.
AI Technology Risk. AI technology is generally highly reliant on the collection and analysis of large amounts of data, and it is not possible or practicable to incorporate all relevant data into the model that such AI utilizes to operate. Certain data in such models will inevitably contain a degree of inaccuracy and error – potentially materially so – and could otherwise be inadequate or flawed, which would be likely to degrade the effectiveness of the AI technology. Companies involved in, or exposed to, artificial intelligence-related businesses may have limited product lines, markets, financial resources or personnel. These companies face intense competition and potentially rapid product obsolescence, and many depend significantly on retaining and growing the consumer base of their respective products and services. Many of these companies are also reliant on the end-user demand of products and services in various industries that may in part utilize artificial intelligence. Further, many companies involved in, or exposed to, artificial intelligence-related businesses may be substantially exposed to the market and business risks of other industries or sectors, and the Fund may be adversely affected by negative developments impacting those companies, industries or sectors.
Calculation Methodology Risk. The Index relies directly or indirectly on various sources of information to assess the criteria of issuers included in the Index, including information that may be based on assumptions and estimates. Neither the Fund nor the Adviser can offer assurances that the Index’s calculation methodology or sources of information will provide an accurate assessment of included issuers or a correct valuation of securities, nor can they guarantee the availability or timeliness of the production of the Index.
Concentration Risk. The Fund’s investments will be concentrated in an industry or group of industries to the extent that the Index is so concentrated. In such event, the value of the Shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries.
Investing involves risk, including possible loss of principal. Narrowly focused thematic investments will be more susceptible to factors affecting that sector and subject to more volatility.
The Wedbush Funds are distributed by Foreside Fund Services, LLC. Wedbush Fund Advisers, LLC and Foreside Fund Services, LLC, are not affiliated.
Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.
NEW YORK, June 13, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Life Sciences Investor Forum, held June 11th and 12th are now available for online viewing.
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.
Select companies are accepting 1×1 management meeting requests through June 17.
June 11th
June 12th
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
In the fall of 1971, Sly and the Family Stone’s “There’s a Riot Goin’ On” landed like a quiet revolution. After two years of silence following the band’s mainstream success, fans expected more feel-good funk from the ensemble.
What they got instead was something murkier and more fractured, yet deeply intimate and experimental. This was not just an album; it was the sound of a restless mind rebuilding music from the inside out.
He was among the first major artists to fully embrace the recording environment as a space to compose rather than perform. Every reverb bounce, every drum machine tick, every overdubbed breath became part of the writing process.
From studio rat to bedroom producer
Sly and the Family Stone’s early albums – including “Dance to the Music” and “Stand!” – were recorded at top-tier facilities like CBS Studios in Los Angeles under the technical guidance of engineers such as Don Puluse and with oversight from producer David Rubinson.
These sessions yielded bright, radio-friendly tracks that emphasized tight horn sections, group vocals and a polished sound. Producers also prized the energy of live performance, so the full band would record together in real time.
But by the early 1970s, Stone was burnt out. The dual pressures of fame and industry demands were becoming too much. Struggling with cocaine and PCP addiction, he’d grown increasingly distrustful of bandmates, label executives and even his friends.
So he decided to retreat to his hillside mansion in Bel Air, California, transforming his home into a musical bunker. Inside, he could work on his own terms: isolated and erratic, but free.
Without a full band present, Stone became a one-man ensemble. He leaned heavily into overdubbing – recording one instrument at a time and building his songs from fragments. Using multiple tape machines, he’d layer each part onto previous takes.
The resulting album, “There’s a Riot Goin’ On,” was like nothing he’d previously recorded. It sounds murky, jagged and disjointed. But it’s also deeply intentional, as if every imperfection was part of the design.
In “The Poetics of Rock,” musicologist Albin Zak describes this “composerly” approach to production, where recording itself becomes a form of writing, not just documentation. Stone’s process for “There’s a Riot Goin’ On” reflects this mindset: Each overdub, rhythm loop and sonic imperfection functions more like a brushstroke than a performance.
Automating the groove
A key part of Stone’s tool kit was the Maestro Rhythm King, a preset drum machine he used extensively.
It wasn’t the first rhythm box on the market. But Stone’s use of it was arguably the first time such a machine shaped the entire aesthetic of a mainstream album. The drum parts on his track “Family Affair,” for example, don’t swing – they tick. What might have been viewed as soulless became its own kind of soul.
This early embrace of mechanical rhythm prefigured what would later become a foundation of hip-hop and electronic music. In his book “Dawn of the DAW,” music technology scholar Adam Patrick Bell calls this shift “a redefinition of groove,” noting how drum machines like the Rhythm King encouraged musicians to rethink their songwriting process, building tracks in shorter, repeatable sections while emphasizing steady, looped rhythms rather than free-flowing performances.
He recorded his own parts the way future DJs would splice records – isolated, reshuffled, rhythmically obsessed. His overdubbed bass lines, keyboard vamps and vocal murmurs often sounded like puzzle pieces from other songs.
Music scholar Will Fulton, in his study of Black studio innovation, notes how producers like Stone helped pioneer a fragment-based approach to music-making that would become central to hip-hop’s DNA. Stone’s process anticipated the mentality that a song isn’t necessarily something written top to bottom, but something assembled, brick by brick, from what’s available.
Perhaps not surprisingly, Stone’s tracks have been sampled relentlessly. In “Bring That Beat Back,” music critic Nate Patrin identifies Stone as one of the most sample-friendly artists of the 1970s – not because of his commercial hits, but because of how much sonic space he left in his tracks: the open-ended grooves, unusual textures and slippery emotional tone.
While Sly’s approach was groundbreaking, he wasn’t entirely alone. Around the same time, artists such as Brian Wilson and The Rolling Stones were experimenting with home and nontraditional recording environments – Wilson famously retreating to his home studio during “Pet Sounds,” and the Stones tracking “Exile on Main St.” in a French villa.
Yet in the world of Black music, production remained largely centralized in institutionally controlled studio systems such as Motown in Detroit and Stax in Memphis, where sound was tightly managed by in-house producers and engineers. In that context, Stone’s decision to isolate, self-produce and dismantle the standard workflow was more than a technical choice: It was a radical act of autonomy.
The rise of home recording didn’t just change who could make music. It changed what music felt like. It made music more internal, iterative and intimate.
Sly Stone helped invent that feeling.
It’s easy to hear “There’s a Riot Goin’ On” as murky or uneven. The mix is dense with tape hiss, drum machines drift in and out of sync, and vocals often feel buried or half-whispered.
But it’s also, in a way, prophetic.
It anticipated the aesthetics of bedroom pop, the cut-and-paste style of modern music software, the shuffle of playlists and the recycling of sounds that defines sample culture. It showed that a groove didn’t need to be spontaneous to be soulful, and that solitude could be a powerful creative tool, not a limitation.
Half a century ago, a funk pioneer led the way. I think it’s safe to say that Sly Stone quietly changed the process of making music forever – and in the funkiest way possible.
Jose Valentino Ruiz does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
