Category: Business

  • MIL-OSI China: Beijing unveils 16 measures to boost AI-driven industry upgrades

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

    Beijing recently rolled out a new action plan to boost AI-driven industry upgrades. Including 16 measures, the plan provides substantial financial incentives for companies that develop industry-leading AI models, provides smart equipment upgrades, and enhances intelligent security systems.

    Specifically, the city plans to establish high-quality industry datasets, improve public data governance services, and support corporate data involvement in AI model training and the development of both industry-specific large models and high-performance intelligent agents.

    Companies creating widely applicable general-purpose intelligent agents that significantly improve manufacturing efficiency can receive subsidies of up to 30 million yuan. Similarly, developers of cutting-edge AI models that achieve domestic or international leadership status may qualify for up to 30 million yuan in support.

    For enhanced simulation and security capabilities, the initiative supports development of testing environments and defensive solutions, offering up to 30 million yuan for influential security platforms. Simulation verification projects designated as municipal or national priorities may qualify for a funding of up to 50 million yuan.

    According to the plan, the city will also support companies in adopting embodied intelligence models, 5G integration, and next-generation robotics. Eligible demonstration equipment and projects can receive up to 30 million yuan in subsidies, while pilot production lines for AI devices, including computers, mobile phones, and wearables, may obtain up to 50 million yuan in subsidies.

    Additionally, the city will expand talent pipelines, enhance consulting services, and provide targeted financial solutions to accelerate AI integration across industrial sectors.

    MIL OSI China News

  • MIL-OSI China: Trade volume exceeds 100B yuan at Beijing’s Daxing airport

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

    Beijing Daxing International Airport had handled a cumulative import and export value of 102 billion yuan ($14.19 billion) as of April this year since its opening in 2019, according to the Beijing Customs on Wednesday. This included 33.77 billion yuan in import and 68.23 billion yuan in export.

    Data shows that the airport has seen solid growth in import and export value in recent years, with annual figures surpassing 20 billion yuan in 2023 and 50 billion yuan in 2024. In the first four months of this year, the airport handled a total trade value of 16.1 billion yuan, up 6.8% year on year.

    “Trade at Daxing airport is characterized by a focus on high-tech products and close ties with Belt and Road Initiative (BRI) partner countries,” said Dong Ruiqiang, director of the Statistics and Analysis Department at Beijing Customs.

    High-tech goods have played a leading role, with total trade in such products reaching 61.98 billion yuan, accounting for 60.8% of all import and export through the port. In the first four months of this year, high-tech product trade reached 9.33 billion yuan, up 6.7% year on year. 

    Since 2019, the airport has established trade links with 127 countries participating in the BRI, with the cumulative import and export value hitting 56.3 billion yuan, accounting for 55.2% of the total foreign trade volume handled by the airport. From January to April 2025, the airport saw trade with BRI partner countries totaling 7.83 billion yuan, up 48.6% year on year.

    Daxing airport is emerging as a new engine for the coordinated development of the Beijing-Tianjin- Hebei region. Data shows that since opening, the airport has served enterprises from 31 provinces and municipalities nationwide, with non-Beijing enterprises contributing 60 billion yuan in trade volume, accounting for 75% of the total. 

    Notably, companies from Tianjin and Hebei posted sharp increases, with trade volumes reaching 1.4 billion and 1.35 billion yuan, respectively, up 113.9% and 59% year on year.

    The Daxing airport free trade zone is also seeing rapid growth, with total trade volume hitting 9.89 billion yuan in 2024, closing in on the 10-billion-yuan mark. In the first four months of the year, trade through the zone reached 2.67 billion yuan, up 50.9% year on year, with imports surging 260.3% to 2.4 billion yuan.

    MIL OSI China News

  • MIL-OSI Banking: Reserve Bank cancels Certificate of Registration of M/s N.Y.Leasing Private Limited due to irregular lending practices

    Source: Reserve Bank of India

    In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC):

    Name of the NBFC Registered Office Address CoR No. CoR issued on Name of the service provider (mobile app)
    M/s N.Y. Leasing Private Limited Plot No.-54A, Third Floor, Shiv Park, Near Old Palam Road, Sector-15, Dwarka, South West Delhi, Delhi-110078 CoR No.14.00300 March 06, 1998 Bardhaman Fintech Private Limited (Shine Loan App and Curry Cash App)

    As such, the above company shall not, hereinafter, transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934.

    The CoR has been cancelled by RBI as the company has violated RBI guidelines on outsourcing of financial services in its digital lending operations by outsourcing its core decision-making functions such as such as sourcing of customers, conducting their due-diligence, disbursement of loans, collection of repayments etc. as well as Know Your Customer (KYC) verification to the Service Provider.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/429

    MIL OSI Global Banks

  • MIL-OSI United Kingdom: Over £7.4 million put back in working people’s pockets by employers

    Source: United Kingdom – Government Statements

    Press release

    Over £7.4 million put back in working people’s pockets by employers

    Employers who have left workers over £7.4 million out of pocket by failing to pay the National Living and National Minimum Wage named.

    • More money put into the pockets of hardworking people, as government delivers the biggest upgrade to worker’s rights in a generation, as part of the Plan for Change
    • Workers will be paid over £7.4 million by employers after nearly 60,000 workers have been left out of pocket.
    • Action builds on recent uplift to the National Living and National Minimum Wage which puts £1,400 into the pockets of workers and families across the UK

    Nearly 60,000 workers who have been left out of pocket will be repaid over £7.4 million the Government has announced today [Thursday 29th May] in its latest move to Make Work Pay.

    This follows a significant uplift to the National Living Wage and National Minimum Wage – putting £1,400 into the pockets of full-time workers on NLW and supporting millions of families across the country – as well as the biggest upgrade to workers’ rights in a generation under the Employment Rights Bill.

    As part of the Plan for Change, this Government’s priority is to grow the economy and raise living standards. A strong economy can only be built when people have financial security whilst in work and robust enforcement action will be taken against employers who do not pay their staff correctly.

    The 518 employers and businesses named today have since paid back what they owe to their staff and faced financial penalties of up to 200% of their underpayment. The investigations by His Majesty’s Revenue and Customs (HMRC) concluded between 2015-2022.

    Minister for Employment Rights, Justin Madders said:

    There is no excuse for employers to undercut their workers, and we will continue to name companies who break the law and don’t pay their employees what they are owed.

    Ensuring workers have the support they need and making sure they receive a fair day’s pay for a fair day’s work is a key commitment in our Plan for Change. This will put more money in working people’s pockets, helping to boost productivity and ending low pay.

    Baroness Philippa Stroud, Chair of the Low Pay Commission, said:

    We welcome today’s publication. Underpayment leaves workers out of pocket and disadvantages the majority of employers who do abide by the rules.

    These naming rounds play an important part in ensuring that all workers receive their full wages and that they are aware there is support for them to ensure that they do.

    Putting more money into the pockets of the lowest paid increases workers’ financial security, offers stability to help increase staff retention and lowers recruitment costs for businesses in the long run.  Whilst not all minimum wage underpayments are intentional, the Government is clear that enforcement action will be taken against employers who do not pay their staff correctly.

    Ahead of permanently lowering tax rates for high street retail, hospitality, and leisure (RHL) from 2026/27, we have prevented the current RHL relief from ending this April, extending it for one year to ensure that over 250,000 RHL properties see a full 40 per cent reduction on their liability, and we have frozen the small business multiplier. 

    Notes to Editors:

    • If workers suspect they are being underpaid, they can visit gov.uk/checkyourpay to find out more about what they can do.
    • Workers can also call the Acas helpline on 0300 123 1100 or visit their website for free, impartial and confidential advice or complain to HMRC at Pay and work rights helpline and complaints
    • The minimum wage law applies to all parts of the UK.
    • Employers should always carry out the necessary checks – see the guidance: Calculating the Minimum Wage
    • HMRC consider all complaints from workers, so workers are being reminded to check their pay with advice available through the Check your pay website
    • National Living Wage and National Minimum wage rates:
    2024 rate 2025 rate
    National Living Wage (21 and over) £11.44 £12.21
    18 to 20 £8.60 £10.00
    Under 18 £6.40 £7.55
    Apprentice £6.40 £7.55
    1. Capita Business Services Ltd, City of London, EC2V, failed to pay £1,154,461.97 to 5,543 workers.
    2. Pizzaexpress (Restaurants) Limited, Croydon, CR0, failed to pay £760,701.61 to 8,470 workers.        
    3. Virtual Marketing Services (Gibraltar) Ltd, Birmingham, B3, failed to pay £478,282.71 to 41 workers.        
    4. L. Rowland & Company (Retail) Limited , Runcorn, WA7, failed to pay £307,342.87 to 2,293 workers.        
    5. Templar Corporation Limited, Lewisham, SE16, failed to pay £298,143.12 to 26 workers.        
    6. Lidl Great Britain Limited, Merton, SW19, failed to pay £286,437.18 to 3,423 workers.        
    7. British Airways PLC, Harmondsworth, UB7, failed to pay £231,276.10 to 2,165 workers.        
    8. Scottish Midland Co-operative Society Limited, Newbridge, EH28, failed to pay £186,883.56 to 1,795 workers.        
    9. Interserve (Facilities Management) Ltd, Lambeth, SE1, failed to pay £177,268.08 to 2,297 workers.        
    10. Prezzo Limited, Woodford Green, IG8, failed to pay £163,702.67 to 2,550 workers.        
    11. Halfords Ltd, Redditch, B98, failed to pay £140,829.79 to 4,341 workers.        
    12. The Southern Co-Operative Limited , Portsmouth, PO6, failed to pay £126,739.33 to 2,300 workers.        
    13. TUI UK Retail Limited, Luton, LU2, failed to pay £107,611.04 to 2,044 workers.        
    14. Heart Of England Co-Operative Society Limited, Coventry, CV6, failed to pay £90,870.95 to 1,017 workers.        
    15. CDS (Superstores International) Limited, Plymouth, PL6, failed to pay £89,158.47 to 1,648 workers.        
    16. Day Lewis PLC, Croydon, CR0, failed to pay £82,819.47 to 604 workers.        
    17. Petrogas Group UK Limited, Ampthill, MK45, failed to pay £63,026.69 to 602 workers.        
    18. Mr Guiseppe Caruso , London, W2, failed to pay £59,780.03 to 2 workers.        
    19. William Strike Limited, Carlisle, CA6, failed to pay £56,657.01 to 798 workers.        
    20. Property Management Services (NI) Limited, Belfast, BT3, failed to pay £54,852.44 to 414 workers.        
    21. Coghlan Lodges Limited, Uxbridge, UB8, failed to pay £52,062.45 to 45 workers.        
    22. Ant Marketing Limited, Sheffield, S2, failed to pay £46,260.65 to 340 workers.        
    23. Maclean Services (L) Limited, London, W2, failed to pay £43,583.26 to 781 workers.        
    24. ABM Aviation UK Limited, Hounslow, TW6, failed to pay £40,243.10 to 880 workers.        
    25. Malvern Tyres (Wholesale) Limited, Gloucester, GL1, failed to pay £39,012.15 to 158 workers.        
    26. Halfords Autocentres Limited, Redditch, B98, failed to pay £38,470.94 to 760 workers.        
    27. J M McGill Ltd, Doncaster, DN4, failed to pay £38,178.62 to 364 workers.        
    28. R.T. Stuart Limited, Methil, KY8, failed to pay £37,384.89 to 310 workers.        
    29. Deluxe Beds Ltd, Huddersfield, HD2, failed to pay £27,233.68 to 64 workers.        
    30. Freedom Hotels West Limited, Nr Fort William, PH49, failed to pay £26,814.06 to 37 workers.        
    31. Mytime Active, Orpington, BR6, failed to pay £26,414.51 to 414 workers.        
    32. Parkdean Resorts UK Limited, Newcastle Upon Tyne, NE12, failed to pay £26,360.91 to 291 workers.        
    33. Whitakers Chocolates Limited, Skipton, BD23, failed to pay £26,183.83 to 141 workers.        
    34. Suttons Tankers Limited, Widnes, WA8, failed to pay £25,631.33 to 35 workers.        
    35. Health Care Resourcing Group Limited, Prescot, L34, failed to pay £25,344.45 to 86 workers.        
    36. Veecare Ltd, Loughton, IG10, failed to pay £23,567.49 to 168 workers.        
    37. Meridian Marlow Ltd, Marlow, SL7, failed to pay £22,993.97 to 66 workers.        
    38. Managing Care Limited, Croydon, CR9, failed to pay £21,834.52 to 83 workers.        
    39. Mr Sri Krishna Ratnasinkam and Mrs Saraswathy Ratnasinkam , Ringmer, BN8, failed to pay £20,504.98 to 1 worker.        
    40. M Buckingham & Company Limited        
    , Maulden, MK45, failed to pay £20,361.01 to 3 workers.        
    41. Regency Hotel (Northern Ireland) Limited, Belfast, BT3, failed to pay £19,952.21 to 201 workers.        
    42. Baxters Food Group Limited, Fochabers, IV32, failed to pay £19,765.00 to 62 workers.        
    43. Thrive Childcare and Education Limited, Musselburgh, EH21, failed to pay £19,420.47 to 24 workers.        
    44. Hillgate Investments Limited, Rotherhithe , SE16, failed to pay £19,358.74 to 40 workers.        
    45. Hilton UK Hotels Limited, Watford, WD24, failed to pay £18,924.07 to 20 workers.        
    46. Oscar Mayer Limited, Chard, TA20, failed to pay £18,830.92 to 172 workers.        
    47. BA Cityflyer Limited, West Drayton, UB7, failed to pay £17,988.39 to 102 workers.        
    48. Crystal Property Cleaning Ltd, Twickenham, TW2, failed to pay £17,767.18 to 1 worker.        
    49. Key Care And Support Ltd, Manchester, M34, failed to pay £17,649.66 to 189 workers.        
    50. Sean Elliott, Ballymena, BT42, failed to pay £17,518.00 to 1 worker.        
    51. YTC Limited, Driffield, YO25, failed to pay £17,194.32 to 226 workers.        
    52. Virtual Marketing Services (Gibraltar) Ltd, Gibraltar, GX11, failed to pay £17,155.36 to 1 worker.        
    53. Wargrave Auto Centre Limited , Hounslow, TW5, failed to pay £17,114.70 to 37 workers.        
    54. Lawrence Davis Design Limited, Stoke On Trent, ST1, failed to pay £16,936.97 to 2 workers.        
    55. BJ Bright Day Nurseries Limited, Doncaster, DN5, failed to pay £16,759.85 to 19 workers.        
    56. Thorntons Limited, Alfreton, DE55, failed to pay £16,449.00 to 444 workers.        
    57. 24/7 Security and Events Ltd, Driffield, YO25, failed to pay £15,962.00 to 74 workers.        
    58. Winemark The Winemerchants Limited, Belfast, BT3, failed to pay £15,738.33 to 186 workers.        
    59. Anochrome Limited, Walsall, WS2, failed to pay £15,600.86 to 49 workers.        
    60. Allen Day Associates Limited, Bidwell, LU5, failed to pay £15,525.26 to 387 workers.        
    61. Equitas Solicitors Limited, Preston, PR2, failed to pay £15,412.15 to 72 workers.        
    62. Kingwood Limited, Wokingham, RG40, failed to pay £15,090.99 to 1 worker.        
    63. The Eastbury (Sherbourne) Limited, Sherborne, DT9, failed to pay £14,813.03 to 7 workers.        
    64. Elmoreton Limited, Belfast, BT7, failed to pay £14,782.81 to 391 workers.        
    65. Elliott Baxter & Company Limited , Farnborough, GU12, failed to pay £14,411.44 to 43 workers.        
    66. MA Bureau Limited, Croydon, CR0, failed to pay £13,226.91 to 6 workers.        
    67. Moto Hospitality Limited, Toddington, LU5, failed to pay £13,164.96 to 734 workers.        
    68. Slo Drinks Limited, Stockport, SK3, failed to pay £12,716.05 to 1 worker.        
    69. The Crown Hotel (Colne) Limited, Colne, BB8, failed to pay £12,642.18 to 2 workers.        
    70. EA Coaching Ltd, Birmingham, B34, failed to pay £12,378.25 to 18 workers.        
    71. Hydes’ Brewery Limited, Salford, M50, failed to pay £12,281.18 to 176 workers.        
    72. Elior UK PLC, Macclesfield, SK11, failed to pay £12,198.61 to 496 workers.        
    73. Savoy Tyres Limited, Kingston Upon Hull, HU8, failed to pay £11,921.60 to 6 workers.        
    74. PK Sales & Lettings Ltd, Greenwich, SE18, failed to pay £11,885.46 to 5 workers.        
    75. Quokka Solutions Ltd, Sunderland , SR5, failed to pay £11,605.84 to 15 workers.        
    76. Elix-Irr Consulting Services Limited, London, EC2V, failed to pay £11,101.13 to 21 workers.        
    77. Go To The Venue Limited, Oswestry, SY11, failed to pay £10,974.19 to 21 workers.        
    78. JWDW Limited, Doncaster, DN4, failed to pay £10,699.64 to 21 workers.        
    79. Mr Stuart Benson, Heywood, OL10, failed to pay £10,600.34 to 1 worker.        
    80. Philip Russell Limited, Belfast, BT6, failed to pay £10,507.58 to 111 workers.        
    81. Energy Kidz Ltd, Wokingham , RG41, failed to pay £10,479.36 to 199 workers.        
    82. ABC Pre-School Limited, Culcheth, WA3, failed to pay £10,393.39 to 16 workers.        
    83. YAM 110 Limited, Bradford, BD8, failed to pay £10,021.48 to 22 workers.        
    84. Lord Charles P Courtenay, Kenton, EX6, failed to pay £9,930.78 to 1 worker.        
    85. React Homecare Ltd, Mansfield, NG21, failed to pay £9,907.42 to 127 workers.        
    86. Lutonestateandlettings Ltd, Luton, LU3, failed to pay £9,887.66 to 4 workers.        
    87. Jill Birt, Bolton, BL5, failed to pay £9,819.79 to 3 workers.        
    88. The House That Jack Built (Day Nursery) Limited, Marlow, SL7, failed to pay £9,810.00 to 8 workers.        
    89. IWE Services Limited, Staxton, YO12, failed to pay £9,803.34 to 3 workers.        
    90. At Home – Specialists in Care Ltd, Pocklington, YO42, failed to pay £9,737.27 to 26 workers.        
    91. Mr Albert Cepa, Chesterfield, S40, failed to pay £9,677.33 to 4 workers.        
    92. Top Gas Heating & Plumbing Limited, Bristol, BS15, failed to pay £9,675.90 to 4 workers.        
    93. Brookfield Retail Ltd, Dewsbury, WF12, failed to pay £9,544.19 to 52 workers.        
    94. Clock House Farm Limited, Maidstone, ME17, failed to pay £9,384.53 to 69 workers.        
    95. Panic Deliveries Limited, Oldbury , B69, failed to pay £9,362.96 to 29 workers.        
    96. Steve Kane Painting & Decorating Limited, Doncaster, DN3, failed to pay £9,317.13 to 11 workers.        
    97. Wine Inns Limited, Belfast, BT3, failed to pay £9,295.35 to 103 workers.        
    98. SOS Homecare Ltd, Stretford, M32, failed to pay £9,186.36 to 293 workers.        
    99. Parkway Derby Limited, Derby, DE24, failed to pay £9,083.64 to 11 workers.        
    100. Lashes Nails and Brows Ltd, Thornton Heath, CR7, failed to pay £9,074.84 to 3 workers.        
    101. Mrs Carol Olsen , Bedlington, NE22, failed to pay £8,988.13 to 25 workers.        
    102. Teddy Bear Nursery Limited, Rochdale, OL16, failed to pay £8,982.22 to 32 workers.        
    103. R.H. Wilson (Chemists) Limited, Blackburn, BB1, failed to pay £8,925.53 to 11 workers.        
    104. Mr James Westcott, Newport, PO30, failed to pay £8,587.49 to 33 workers.        
    105. Mr Orhan Esen, Dumfries, DG1, failed to pay £8,513.17 to 5 workers.        
    106. Waterloo and Taunton Conservative Club, Ashton-Under-Lyne, OL7, failed to pay £8,468.51 to 3 workers.        
    107. Aramark Limited, Leeds, LS16, failed to pay £8,407.77 to 154 workers.        
    108. Mr Mario Wood, Stalybridge, SK15, failed to pay £8,040.26 to 3 workers.        
    109. Mr Paul S Clerehugh T/A , Henley-On-Thames, RG9, failed to pay £8,029.07 to 20 workers.        
    110. Waggon & Horses (Matley) Ltd, Stalybridge, SK15, failed to pay £8,016.08 to 57 workers.        
    111. Rice Solutions Limited, Southport, PR8, failed to pay £7,921.26 to 2 workers.        
    112. UK Hairdressers 2019 Limited, Birmingham, B16, failed to pay £7,870.93 to 13 workers.        
    113. LIBERTY MUSIC PR LTD, Brighton, BN1, failed to pay £7,663.84 to 3 workers.        
    114. Turkuaz Limited, Cheadle, SK8, failed to pay £7,655.93 to 3 workers.        
    115. Belgravia Mews Hotel Limited, South Kensington, SW5, failed to pay £7,646.84 to 14 workers.        
    116. Start Afresh Cleaning Limited, Ipswich, IP1, failed to pay £7,630.05 to 15 workers.        
    117. Mr Atul Patel & Mr Bhikhubhai Patel, Northampton, NN5, failed to pay £7,386.13 to 1 worker.        
    118. K J Curson Growers Limited, Wisbech, PE14, failed to pay £7,311.72 to 11 workers.        
    119. Artico Limited, Monmouth, NP25, failed to pay £7,306.40 to 1 worker.        
    120. Tristan HCW Ltd, Bedford, MK41, failed to pay £7,227.75 to 7 workers.        
    121. Mainstage Festivals Limited, Southwark, SE1, failed to pay £7,089.61 to 4 workers.        
    122. Talash Limited, CV32, failed to pay £7,053.17 to 53 workers.        
    123. J D Wetherspoon Plc, Watford , WD24, failed to pay £7,000.00 to 282 workers.        
    124. Aroma Expresso Bar Limited, London, NW4, failed to pay £6,967.02 to 2 workers.        
    125. Lymedale Motors Limited, Newcastle Under Lyme, ST5, failed to pay £6,859.90 to 3 workers.        
    126. Golders Green Hairdressing Limited, Finchley, NW11, failed to pay £6,846.53 to 10 workers.        
    127. Head Office Hair and Beauty (Scotland) Ltd., Glasgow, G61, failed to pay £6,803.01 to 2 workers.        
    128. The Stair Arms Hotel Ltd, Pathhead, EH37, failed to pay £6,787.54 to 1 worker.        
    129. Springfields Supported Services Limited, Barking, IG11, failed to pay £6,693.35 to 19 workers.        
    130. Network Tyre & Auto Limited, Dartford, DA1, failed to pay £6,529.19 to 7 workers.        
    131. Specialist Computer Centres Plc, Birmingham, B11, failed to pay £6,491.66 to 28 workers.        
    132. Treetops Childrens Nursery Ltd, Blackpool, FY2, failed to pay £6,450.52 to 45 workers.        
    133. McDonald & Munro Limited, Elgin, IV30, failed to pay £6,436.10 to 2 workers.        
    134. Suez Recycling and Recovery UK Ltd, Maidenhead, SL6, failed to pay £6,387.96 to 47 workers.        
    135. Woodhall Capital Limited, London, EC4N, failed to pay £6,294.25 to 1 worker.        
    136. Mr Steven Prested, Meadowfield, DH7, failed to pay £6,207.12 to 1 worker.        
    137. Best Social Enterprise Ltd, London, SE1, failed to pay £6,171.64 to 10 workers.        
    138. The Buck House Limited, Wrexham, LL13, failed to pay £6,101.67 to 1 worker.        
    139. Mahmoud Shaduman Ali , Derby , DE23, failed to pay £6,091.90 to 6 workers.        
    140. Get Your Mobi Limited, Lancaster, LA1, failed to pay £6,069.51 to 8 workers.        
    141. Robertson Facilities Management Limited, Elgin, IV30, failed to pay £5,864.37 to 51 workers.        
    142. Orion Group London Limited, Wandsworth, SW18, failed to pay £5,818.69 to 1 worker.        
    143. Dee Kay Knitwear Ltd, Leicester, LE4, failed to pay £5,801.65 to 38 workers.        
    144. Miss J J Smart, Southampton, SO31, failed to pay £5,778.65 to 1 worker.        
    145. Zhanna Horn, Torquay, TQ2, failed to pay £5,749.66 to 2 workers.        
    146. The Fernlea Hotel Limited, Lytham St Annes, FY8, failed to pay £5,698.56 to 4 workers.        
    147. Gogo and Fried Chicken Limited, Coventry, CV1, failed to pay £5,665.58 to 9 workers.        
    148. Chess People Limited, Alderley Edge, SK9, failed to pay £5,629.12 to 1 worker.        
    149. Building Blocks Day Nursery (NI) Ltd, Toome, BT41, failed to pay £5,576.45 to 45 workers.        
    150. Mr Christopher Owston, North Shields, NE29, failed to pay £5,571.27 to 1 worker.        
    151. LJ Care Homes Ltd, Lincoln, LN4, failed to pay £5,568.84 to 56 workers.        
    152. Crossgates Stop N Shop Ltd, Leeds, LS15, failed to pay £5,545.63 to 4 workers.        
    153. BLFL Services Ltd, Burnham on Crouch, CM0, failed to pay £5,496.06 to 3 workers.        
    154. Mr Nigel Ian Fisher, Romsey, SO51, failed to pay £5,442.49 to 1 worker.        
    155. Mr Mathew James Hicks, Whitchurch, RG28, failed to pay £5,439.43 to 3 workers.        
    156. Old Town Car Wash Ltd, Hastings, TN35, failed to pay £5,422.92 to 5 workers.        
    157. London Street Brasserie Limited, Reading, RG1, failed to pay £5,343.77 to 13 workers.        
    158. Coton Care Limited, Wolverhampton, WV4, failed to pay £5,342.58 to 47 workers.        
    159. Epilepsy Society, Chalfont St Peter, SL9, failed to pay £5,293.99 to 1 worker.        
    160. Premier Work Support Limited, Chatham, ME4, failed to pay £5,272.92 to 428 workers.        
    161. Power Leisure Bookmakers Limited, Hammersmith, W6, failed to pay £5,245.57 to 257 workers.        
    162. Star Lite Jobs Limited, Ilford, IG1, failed to pay £5,237.44 to 67 workers.        
    163. Vivienne Westwood Limited, Wandsworth, SW11, failed to pay £5,232.00 to 1 worker.        
    164. A.P.C. Panels Ltd, Barry, CF63, failed to pay £5,220.60 to 7 workers.        
    165. Ghani Systems Ltd, Glasgow, G42, failed to pay £5,209.68 to 15 workers.        
    166. Taylor Dental Laboratory Limited, Leicester, LE5, failed to pay £5,189.75 to 1 worker.        
    167. MEDS2U Limited, Barnsley, S73, failed to pay £5,057.78 to 8 workers.        
    168. Total Cleaning South Limited, Manston, CT12, failed to pay £5,054.94 to 218 workers.        
    169. Decorative Panels Furniture Limited , Elland, HX5, failed to pay £5,045.43 to 62 workers.        
    170. Supercar Italia Ltd, Westerham, TN16, failed to pay £4,997.94 to 1 worker.        
    171. Miss Gemma Tattersall, Horsham, RH13, failed to pay £4,886.88 to 3 workers.        
    172. Mr Muhammed Afzal Jabarkhail , Clydebank, G81, failed to pay £4,873.12 to 1 worker.        
    173. Mr Shamim Ahmed, Braunton, EX33, failed to pay £4,867.46 to 1 worker.        
    174. Canei International Limited, Nottingham, NG10, failed to pay £4,752.20 to 1 worker.        
    175. Kitty Café Leeds Limited, Leeds, LS1, failed to pay £4,745.99 to 10 workers.        
    176. DES Healthcare Limited, Lincoln, LN5, failed to pay £4,634.94 to 36 workers.        
    177. Lakeside Day Nursery Limited , Swansea, SA6, failed to pay £4,631.93 to 3 workers.        
    178. Zayani Limited, West Drayton, UB7, failed to pay £4,593.39 to 2 workers.        
    179. Eaton Electrical Systems Limited, Doncaster, DN2, failed to pay £4,576.09 to 24 workers.        
    180. Mr Fadhil Omar Ibrahim , Ripley, DE5, failed to pay £4,482.40 to 5 workers.        
    181. Central Garage (Chesham) Ltd, Hyde Heath, HP6, failed to pay £4,416.25 to 1 worker.        
    182. Imperial College of Science, Technology and Medicine, Exhibition Road, SW7, failed to pay £4,372.16 to 1 worker.        
    183. Penrhyn Inns Limited, Oldham, OL4, failed to pay £4,324.94 to 33 workers.        
    184. Everest Hotels Limited, Powys, NP8, failed to pay £4,274.77 to 4 workers.        
    185. Coastal Heating Ltd, Sheringham, NR26, failed to pay £4,267.76 to 1 worker.        
    186. UK Solutions Limited, Chelmsford, CM1, failed to pay £4,267.22 to 28 workers.        
    187. NEO Property Solutions Limited, Leeds, LS9, failed to pay £4,263.52 to 16 workers.        
    188. Mountford House Nursery Limited, Nottingham, NG5, failed to pay £4,195.32 to 1 worker.        
    189. Major Cleaning Services Limited, Potters Bar, EN6, failed to pay £4,194.74 to 25 workers.        
    190. Witham Valeting Ltd, Witham , CM8, failed to pay £4,166.48 to 8 workers.        
    191. Parsons Bakery Limited, Bristol, BS3, failed to pay £4,134.64 to 44 workers.        
    192. Mr Amir Rasool, Langholm, DG13, failed to pay £4,083.79 to 1 worker.        
    193. Grosvenor Concierge Limited  (previously GCS Facility Services Limited), Skegness, PE25, failed to pay £4,056.99 to 120 workers.        
    194. Industrial Cleaning Services (UK) Ltd, Camden, WC1N, failed to pay £4,048.91 to 41 workers.        
    195. Spring Cleaning Services Limited, Cheltenham, GL51, failed to pay £3,989.71 to 16 workers.        
    196. Sunlit Ltd, Lewisham, SE6, failed to pay £3,973.49 to 4 workers.        
    197. Blink Productions Limited, Holloway, N7, failed to pay £3,910.06 to 4 workers.        
    198. DSM Joinery Contractors Limited, Dunfermline, KY11, failed to pay £3,905.50 to 2 workers.        
    199. Fashion Fabric Transprinters Limited, Leicester, LE4, failed to pay £3,779.70 to 2 workers.        
    200. Mrs Imogen Katherine Wyvill, Mr Marmaduke D’Arcy William Wyvill and Mr Marmaduke Charles Astey Wyvill, Leyburn, DL8, failed to pay £3,724.37 to 16 workers.        
    201. Mrs Nalani Carr, Haverhill, CB9, failed to pay £3,702.83 to 1 worker.        
    202. Temple Farm Limited, Ramsgate, CT11, failed to pay £3,696.54 to 57 workers.        
    203. Walker Outboard Services Limited, Reading, RG4, failed to pay £3,647.76 to 1 worker.        
    204. Shah Foods Ltd, Newham, E16, failed to pay £3,638.69 to 2 workers.        
    205. City Office (NI) Ltd, Belfast, BT12, failed to pay £3,622.46 to 2 workers.        
    206. Ms Stacey Baker, Doune, FK16, failed to pay £3,582.87 to 1 worker.        
    207. Joarr Hot Food Emporium Limited, Southport, PR9, failed to pay £3,564.00 to 1 worker.        
    208. St John’s Road Garage Limited, Dartford, DA2, failed to pay £3,525.63 to 1 worker.        
    209. Alanya Catering Ltd, Nottingham, NG1, failed to pay £3,489.42 to 7 workers.        
    210. Care Direct Group Limited, Eastbourne, BN21, failed to pay £3,484.98 to 35 workers.        
    211. Baudelaire Limited, Alresford , SO24, failed to pay £3,454.06 to 1 worker.        
    212. House Of Glamour Limited, East Dulwich, SE22, failed to pay £3,433.06 to 1 worker.        
    213. Oshibori Scotland Ltd, Dundee, DD1, failed to pay £3,328.44 to 5 workers.        
    214. Yatab Company Ltd, Rainham, RM13, failed to pay £3,292.77 to 7 workers.        
    215. Cheeky Monkey Day Nurseries Limited, Birmingham, B15, failed to pay £3,272.93 to 22 workers.        
    216. S & W Developments Limited, Doncaster, DN5, failed to pay £3,253.46 to 1 worker.        
    217. The Lady Cleaner Ltd, Eastbourne, BN23, failed to pay £3,233.28 to 26 workers.        
    218. Mi Casa Care Ltd, Mansfield, NG19, failed to pay £3,221.07 to 23 workers.        
    219. SNC-LAVALIN RAIL & TRANSIT LIMITED, Epsom, KT18, failed to pay £3,212.78 to 11 workers.        
    220. Little Flowers Limited, Renfrew, PA4, failed to pay £3,162.05 to 1 worker.        
    221. Little Ducklings Day Nursery (Garstang) Limited, Preston, PR3, failed to pay £3,157.18 to 1 worker.        
    222. Fresh 75 Limited, Newport, PO30, failed to pay £3,132.90 to 1 worker.        
    223. Excel Parking Services Limited, Sheffield, S9, failed to pay £3,124.95 to 14 workers.        
    224. Mr Simon Foster and Mrs Jane Foster, Skipton, BD23, failed to pay £3,124.66 to 1 worker.        
    225. Mr Daniel Jenkinson , Preston, PR1, failed to pay £3,104.72 to 1 worker.        
    226. Spanners & Sparks (EK) Limited, Glasgow, G75, failed to pay £3,093.15 to 5 workers.        
    227. Central Electrical Contracts Limited, Wolverhampton, WV6, failed to pay £3,086.28 to 5 workers.        
    228. Branded Housewares Limited, Wolverhampton, WV2, failed to pay £3,066.72 to 4 workers.        
    229. Valerie Anne Sheen , Honiton, EX14, failed to pay £3,057.10 to 18 workers.        
    230. Rosebridge Private Day Nursery Limited, Wigan, WN1, failed to pay £3,056.94 to 19 workers.        
    231. Elite Motors Bodyshop Limited, Northampton, NN5, failed to pay £3,055.68 to 8 workers.        
    232. Roux Waterside Inn Limited, Bray, SL6, failed to pay £3,022.52 to 19 workers.        
    233. P.B Services (Wales) Limited, Mountain Ash, CF45, failed to pay £3,008.30 to 2 workers.        
    234. Lostock Hall Academy Trust, Preston, PR5, failed to pay £2,993.98 to 2 workers.        
    235. Taylor Shaw Limited, Macclesfield, SK11, failed to pay £2,958.43 to 2 workers.        
    236. Sage Hair Care (Salons) Limited, Cardiff, CF5, failed to pay £2,938.09 to 3 workers.        
    237. Mr Andrew Petrou, Walworth, SE17, failed to pay £2,907.33 to 1 worker.        
    238. Crystal Car Wash and Valeting Ltd, Loughborough, LE11, failed to pay £2,852.00 to 1 worker.        
    239. KEYSIGNS LIMITED, Bellshill, ML4, failed to pay £2,851.78 to 4 workers.        
    240. Centerplate UK Limited, Camden, WC1B, failed to pay £2,829.64 to 167 workers.        
    241. MN Support Services Limited, Queens Park, W10, failed to pay £2,829.17 to 294 workers.        
    242. Kirklees Active Leisure , Huddersfield, HD1, failed to pay £2,821.46 to 18 workers.        
    243. Marsden Healthcare Limited, Nelson, BB9, failed to pay £2,811.05 to 22 workers.        
    244. Mrs Michelle S Chandler, Birmingham, B44, failed to pay £2,806.72 to 2 workers.        
    245. Jamie Stevens (Kensington) Ltd, Kensington, W8, failed to pay £2,779.88 to 2 workers.        
    246. Filco Supermarkets Limited, Llantwit Major, CF61, failed to pay £2,772.41 to 118 workers.        
    247. AFH Ltd, Cardiff, CF24, failed to pay £2,771.99 to 4 workers.        
    248. Ms Philippa Funnell, Dorking, RH5, failed to pay £2,746.65 to 2 workers.        
    249. Kids at Heart (Harrogate) Limited, Knaresborough, HG5, failed to pay £2,746.08 to 3 workers.        
    250. Sparkle Cleaning Co. (London) Limited, Croydon, CR5, failed to pay £2,732.94 to 25 workers.        
    251. Lexington Catering Limited, Camden, EC4N, failed to pay £2,714.52 to 64 workers.        
    252. What A Hoot Day Nursery Limited, Blyth, NE24, failed to pay £2,712.53 to 4 workers.        
    253. Mr Andy B Fitzsimmons, Mr Ford B Fitzsimmons and Mrs Theresa G Fitzsimmons, Kilwinning, KA13, failed to pay £2,694.78 to 15 workers.        
    254. QSO Ltd, Leeds, LS4, failed to pay £2,675.41 to 10 workers.        
    255. Parkers Pets Limited, Southsea, PO5, failed to pay £2,665.49 to 2 workers.        
    256. Kazoku Restaurant Group Ltd, Sevenoaks, TN13, failed to pay £2,665.15 to 1 worker.        
    257. Madames Hair & Beauty Limited, Swindon, SN3, failed to pay £2,656.41 to 1 worker.        
    258. Acerta Group Limited , Warwick, CV34, failed to pay £2,629.00 to 13 workers.        
    259. London Auto Parts Limited, Wembley, HA0, failed to pay £2,622.17 to 2 workers.        
    260. Killan Structural Limited, Oldham, OL3, failed to pay £2,620.45 to 2 workers.        
    261. Sandersons (N.W.) Ltd, Blackpool, FY4, failed to pay £2,603.82 to 3 workers.        
    262. A & K Home Care Services Ltd, Napton, CV47, failed to pay £2,603.14 to 78 workers.        
    263. Chaplins Hotel Limited, Blackpool, FY1, failed to pay £2,586.56 to 2 workers.        
    264. Calmac Developments Limited, Dumfries, DG2, failed to pay £2,583.77 to 17 workers.        
    265. La Reserve Aparthotel (Manchester) Limited, Manchester, M1, failed to pay £2,567.66 to 13 workers.        
    266. Ultimate Stores Limited, London, NW1, failed to pay £2,560.34 to 4 workers.        
    267. Drayton Manor Resort Limited, Tamworth, B78, failed to pay £2,559.58 to 25 workers.        
    268. Community Foundation, Birmingham, B19, failed to pay £2,500.24 to 2 workers.        
    269. D and G Pub Company Limited, Darlington, DL3, failed to pay £2,498.17 to 35 workers.        
    270. Poplars Blossoms Nursery School Limited, Nottingham, NG5, failed to pay £2,494.39 to 1 worker.        
    271. Vonsung Limited, Islington, EC1Y, failed to pay £2,485.20 to 1 worker.        
    272. Cornish Premier Pasties Limited, Newquay, TR9, failed to pay £2,467.45 to 53 workers.        
    273. The Clansmans Rest Ltd, Glasgow, G40, failed to pay £2,417.22 to 3 workers.        
    274. Natural Care 53 Limited, Manchester, M12, failed to pay £2,412.03 to 1 worker.        
    275. TKE Landscaping Ltd, Wendens Ambo, CB11, failed to pay £2,403.16 to 3 workers.        
    276. Mockingbird Lane Ltd, Glasgow, G11, failed to pay £2,387.07 to 1 worker.        
    277. Mr Patrick G Neilan, Glasgow, G43, failed to pay £2,383.29 to 2 workers.        
    278. Brean Leisure Park Ltd, Berrow, Burnham-on-Sea, TA8, failed to pay £2,371.57 to 12 workers.        
    279. Davidsons Plumbing & Heating Limited , Bristol, BS5, failed to pay £2,349.54 to 4 workers.        
    280. Motor Body Centre Limited, Birmingham, B18, failed to pay £2,346.49 to 1 worker.        
    281. S & S Care (UK) Limited, Caergwrle, LL12, failed to pay £2,340.72 to 49 workers.        
    282. Kelton Nursery, Liverpool, L18, failed to pay £2,334.79 to 10 workers.        
    283. Asset India Limited, Harrow, HA1, failed to pay £2,334.54 to 2 workers.        
    284. Safegas UK Ltd, Swinton, M27, failed to pay £2,277.54 to 1 worker.        
    285. Mert GB 2 Limited, East Ham, E6, failed to pay £2,261.38 to 1 worker.        
    286. Hallwell Projects Ltd, Plymouth, PL1, failed to pay £2,211.32 to 3 workers.        
    287. Mr Andrew Roy Milward, Pembroke Dock, SA72, failed to pay £2,205.31 to 1 worker.        
    288. R & R Retail UK Limited, Luton, LU4, failed to pay £2,201.05 to 16 workers.        
    289. Salon IPS Ltd, Ipswich, IP4, failed to pay £2,189.12 to 1 worker.        
    290. Mr Narinder Kumar Nar, Birmingham, B18, failed to pay £2,173.86 to 2 workers.        
    291. Old Mill Holiday Park Limited, St Helens, PO33, failed to pay £2,172.06 to 1 worker.        
    292. Ms Caroline Wright, Birmingham, B43, failed to pay £2,170.63 to 1 worker.        
    293. Dolphin Care (IOW) Limited, Wroxall Ventnor, PO38, failed to pay £2,155.09 to 6 workers.        
    294. Whistledown Inn Limited, Newry, BT34, failed to pay £2,154.29 to 46 workers.        
    295. Renegade Hair Studio Limited, Leeds, LS2, failed to pay £2,148.74 to 1 worker.        
    296. Lethendy Cheltenham Limited, Cheltenham, GL53, failed to pay £2,144.90 to 44 workers.        
    297. Heminstone Estates Limited, Colchester, CO2, failed to pay £2,137.35 to 10 workers.        
    298. S Leicester Ltd, Leicester, LE5, failed to pay £2,127.17 to 38 workers.        
    299. GB Vape Limited, Heckmondwike, WF16, failed to pay £2,119.82 to 7 workers.        
    300. P McCarthy Limited, Brandon, IP27, failed to pay £2,108.75 to 9 workers.        
    301. K. Foley Limited, Great Blakenham, NR2, failed to pay £2,104.81 to 94 workers.        
    302. AGL Attractions Limited , Burnham-On-Sea, TA8, failed to pay £2,090.06 to 24 workers.        
    303. Techlogico Limited, Knottingley, WF11, failed to pay £2,056.43 to 6 workers.        
    304. Mr Iain Stewart Matheson, Paisley, PA1, failed to pay £2,036.50 to 6 workers.        
    305. GLASGOW WATERLOO LIMITED, Glasgow, G2, failed to pay £2,020.36 to 41 workers.        
    306. R J Ferguson Company Limited, Stewartstown, BT71, failed to pay £2,014.04 to 3 workers.        
    307. Ms Susan Meheux, Southampton, SO31, failed to pay £2,008.66 to 12 workers.        
    308. Mr David Odudu, Sheffield, S9, failed to pay £1,992.53 to 1 worker.        
    309. Mr Hazar Ibrahim Hamid, Doncaster, DN5, failed to pay £1,961.64 to 5 workers.        
    310. M&C Jones Building Contractors Limited, Rhyl, LL18, failed to pay £1,954.46 to 2 workers.        
    311. Hi-Spec Facilities Services Ltd, Dartford, DA2, failed to pay £1,938.75 to 96 workers.        
    312. Calibre Building & Decorating Services Limited, Lichfield, WS13, failed to pay £1,937.89 to 1 worker.        
    313. CPM Electrical Ltd, Omagh, BT79, failed to pay £1,937.71 to 4 workers.        
    314. Ashbrook Roofing & Supplies Limited, Nr Matlock, DE4, failed to pay £1,912.65 to 5 workers.        
    315. Mr Thomas Hutchison, Prestonpans, EH32, failed to pay £1,901.44 to 1 worker.        
    316. Mr Khalid Javid, Chester, CH2, failed to pay £1,891.42 to 1 worker.        
    317. South Golden Mountain Limited, Eastbourne, BN21, failed to pay £1,888.52 to 1 worker.        
    318. Oldbury Grange Nursing Home Ltd, Nuneaton, CV10, failed to pay £1,878.02 to 65 workers.        
    319. OC Electric Limited, Benton, NE12, failed to pay £1,869.32 to 1 worker.        
    320. Seagrave Decorations Limited, Kettering, NN16, failed to pay £1,847.76 to 4 workers.        
    321. Little Angels Fun Club and Nursery Limited, Bedlington, NE22, failed to pay £1,832.96 to 92 workers.        
    322. GAPJ Ivinghoe Ltd, Leighton Buzzard, LU7, failed to pay £1,828.25 to 5 workers.        
    323. Vapour C Co Ltd, Gillingham, ME7, failed to pay £1,822.57 to 2 workers.        
    324. Wide Range Services Limited, Hull, HU12, failed to pay £1,816.72 to 1 worker.        
    325. Hughes (Family Bakers) Holdings Limited, Bradford, BD18, failed to pay £1,811.57 to 26 workers.        
    326. A W Pettitt Limited, Windermere, LA23, failed to pay £1,810.90 to 5 workers.        
    327. Smartway Holding Limited, Holloway, N7, failed to pay £1,800.00 to 1 worker.        
    328. Beaux Health and Wellbeing Ltd, Taunton, TA1, failed to pay £1,791.96 to 1 worker.        
    329. Saggiomo Luxury Foods Limited, Croydon, CR0, failed to pay £1,787.60 to 1 worker.        
    330. John Clark (Holdings) Limited , Aberdeen, AB12, failed to pay £1,785.63 to 5 workers.        
    331. Swiftclean (UK) Limited, Southend-on-Sea, SS2, failed to pay £1,761.48 to 5 workers.        
    332. Reachout Healthcare Limited, Stockport, SK5, failed to pay £1,757.42 to 31 workers.        
    333. Mr Ian T Henderson, Accrington, BB5, failed to pay £1,740.90 to 2 workers.        
    334. Clarke Group Construction Limited, Wyberton, PE21, failed to pay £1,736.49 to 1 worker.        
    335. MRB Cleaning Limited, Swansea, SA1, failed to pay £1,733.88 to 1 worker.        
    336. Mr John Fulton Allen & Mr John Gary King,  Strabane, BT82, failed to pay £1,725.59 to 1 worker.        
    337. Belmont Hotel (Leicester) Limited, Leicester, LE1, failed to pay £1,710.28 to 36 workers.        
    338. Mini Me Private Day Nursery Limited, Newport, NP19, failed to pay £1,708.33 to 15 workers.        
    339. Glow Trade Ltd, Leicester, LE5, failed to pay £1,706.46 to 20 workers.        
    340. Mr Jason Hearn, Taunton, TA1, failed to pay £1,706.12 to 2 workers.        
    341. Country Park Leisure Limited, Hessle, HU13, failed to pay £1,705.13 to 13 workers.        
    342. C & C Precision Engineering Services Limited, Rowley Regis, B65, failed to pay £1,704.30 to 1 worker.        
    343. Karen Jeffrey , Wishaw, ML2, failed to pay £1,683.58 to 4 workers.        
    344. DNA Cleaning Solutions Limited, Twickenham, TW2, failed to pay £1,670.29 to 25 workers.        
    345. Assured Care (Stockport) Ltd., Stockport, SK1, failed to pay £1,666.57 to 79 workers.        
    346. Graylaw International Freight Group Ltd, Skelmersdale, WN8, failed to pay £1,663.46 to 7 workers.        
    347. SPI Trading Limited, Lisburn , BT28, failed to pay £1,656.74 to 3 workers.        
    348. Executive Hire Ltd., Glasgow, G74, failed to pay £1,650.54 to 3 workers.        
    349. Accelerate Cleaning Solutions Ltd, Ipswich, IP7, failed to pay £1,650.38 to 106 workers.        
    350. LGH Plumbing & Heating Services Limited, Leigh, WN7, failed to pay £1,624.77 to 1 worker.        
    351. Samuel Eales Silverware Limited, Sheffield, S3, failed to pay £1,619.79 to 1 worker.        
    352. High Grove Beds Limited, Liversedge, WF15, failed to pay £1,610.43 to 8 workers.        
    353. Shakes n Cakes Aberdeen Ltd, Aberdeen, AB24, failed to pay £1,597.98 to 1 worker.        
    354. Bespoke Cuisine Ltd, Bethnal Green, EC1V, failed to pay £1,587.04 to 1 worker.        
    355. Mascallkelly Limited, Cleveland, TS12, failed to pay £1,576.59 to 19 workers.        
    356. Sher Gill Enterprises Limited, Dunoon, PA23, failed to pay £1,557.58 to 1 worker.        
    357. Ms Hiromi Sato, London, SW4, failed to pay £1,551.71 to 2 workers.        
    358. R.Loughlin Electrical Services Ltd, Castlederg, BT81, failed to pay £1,542.58 to 3 workers.        
    359. Papermoon Nurseries (Boultham Park) Limited, Lincoln, LN6, failed to pay £1,535.25 to 11 workers.        
    360. SB Rom Food Center Ltd, Hounslow, TW3, failed to pay £1,533.80 to 9 workers.        
    361. Mr Robert Pontefract, Stamford, PE9, failed to pay £1,531.55 to 1 worker.        
    362. Grant Leisure Group Limited, Blackpool, FY3, failed to pay £1,495.62 to 15 workers.        
    363. Everbright Lodge Ltd, Llangollen, LL20, failed to pay £1,475.07 to 25 workers.        
    364. Biscuit Clothing Ltd, Edinburgh, EH10, failed to pay £1,469.89 to 1 worker.        
    365. Brockencote Hall Hotel Limited, Leamington Spa, CV33, failed to pay £1,468.25 to 19 workers.        
    366. Mr Francis Joseph McParland and Mr Peter Liam McParland , Armagh, BT61, failed to pay £1,466.04 to 4 workers.        
    367. Colemans Garden Centre Ltd, Templepatrick, BT39, failed to pay £1,450.11 to 35 workers.        
    368. Southcoast Homecare Ltd, Chichester, PO19, failed to pay £1,438.93 to 9 workers.        
    369. Booth & Stirland Limited, Ripley, DE5, failed to pay £1,434.97 to 3 workers.        
    370. Grieve Decor Limited, Berwick Upon Tweed, TD15, failed to pay £1,415.11 to 2 workers.        
    371. Barry Tyre Centre Limited, Barry, CF63, failed to pay £1,408.88 to 1 worker.        
    372. Piddle Brewery Limited, Dorchester, DT2, failed to pay £1,407.79 to 1 worker.        
    373. Forseti Law Ltd, Bolton, BL1, failed to pay £1,403.87 to 1 worker.        
    374. Wash Me Clean Ltd, Bracknell, RG12, failed to pay £1,400.27 to 1 worker.        
    375. Colonnade (Operator) Limited, Little Venice, W9, failed to pay £1,385.11 to 1 worker.        
    376. Mario Gianni Limited, Stockport, SK7, failed to pay £1,378.94 to 3 workers.        
    377. Moyo’s Brothers Limited, Brighton, BN1, failed to pay £1,373.14 to 2 workers.        
    378. Atticus Cleaning Services Limited, Altrincham, WA14, failed to pay £1,364.89 to 1 worker.        
    379. Mrs Jane Boome and Miss Verity Jane Boome, Peterborough, PE7, failed to pay £1,360.84 to 13 workers.        
    380. Get Grip Auto Ltd, Cheltenham, GL53, failed to pay £1,348.25 to 2 workers.        
    381. Downs Holdings Limited, Yarm, TS15, failed to pay £1,339.48 to 8 workers.        
    382. Direct Cleaning Services (Oxford) Limited, Weston-Super-Mare, BS22, failed to pay £1,323.74 to 1 worker.        
    383. Viv Designs Ltd, Gravesend, DA12, failed to pay £1,317.95 to 1 worker.        
    384. Sycamore Farm Park Limited, Skegness, PE24, failed to pay £1,311.54 to 2 workers.        
    385. SMK Building & Joinery Contractors Ltd, Todmorden, OL14, failed to pay £1,297.16 to 1 worker.        
    386. Richard Tate Limited, Leeds, LS10, failed to pay £1,294.02 to 1 worker.        
    387. JDP Hotels Ltd, Wakefield, WF2, failed to pay £1,289.98 to 34 workers.        
    388. Miss Abby Fox, Widnes, WA8, failed to pay £1,270.35 to 10 workers.        
    389. Polish Village Bakery Ltd, Manchester , M17, failed to pay £1,267.37 to 43 workers.        
    390. ENERGY DUNDEE 4 U LTD , Dundee, DD4, failed to pay £1,263.65 to 15 workers.        
    391. Synvestment Ltd, High Wycombe, HP12, failed to pay £1,262.39 to 2 workers.        
    392. Peony Culture Communication Limited, Newcastle Upon Tyne, NE1, failed to pay £1,247.02 to 1 worker.        
    393. Easy Clean Contractors Limited, Peterborough, PE7, failed to pay £1,246.92 to 125 workers.        
    394. R Binks Construction Limited, Bolton, BL2, failed to pay £1,244.33 to 3 workers.        
    395. Mrs Julie Shaw, Knaresborough, HG5, failed to pay £1,231.68 to 20 workers.        
    396. Mrs Karaimjit Gill, Barry, CF63, failed to pay £1,230.73 to 1 worker.        
    397. Mcaleer & McGarrity Ltd, Cookstown, BT80, failed to pay £1,207.77 to 2 workers.        
    398. M.P.M Consumer Products Limited, Manchester, M11, failed to pay £1,205.73 to 32 workers.        
    399. K.L.N. Limited , Brent, NW6, failed to pay £1,203.83 to 2 workers.        
    400. GMD SERVICES LIMITED, Kingston Upon Hull, HU3, failed to pay £1,193.24 to 2 workers.        
    401. C.V.East Ltd, Colchester , CO1, failed to pay £1,185.68 to 7 workers.        
    402. Mr Jonathan Hope and Mr Charlie Hope, Slough, SL3, failed to pay £1,183.12 to 3 workers.        
    403. Belshaw Bookkeeping Services Limited, Bacup, OL13, failed to pay £1,179.76 to 1 worker.        
    404. D Allen Transport Limited, St Helens, WA9, failed to pay £1,178.73 to 4 workers.        
    405. Mrs S & Mr G Clough, Bradford, BD12, failed to pay £1,162.79 to 1 worker.        
    406. Golden Cue Snooker Club Limited, Bilston, WV14, failed to pay £1,147.43 to 1 worker.        
    407. South Wales Building and Construction Limited, Newport, NP11, failed to pay £1,135.47 to 2 workers.        
    408. Form Communal Maintenance Limited, Hartford, CW8, failed to pay £1,131.97 to 1 worker.        
    409. SMS Bars Limited, Stockport, SK1, failed to pay £1,115.11 to 2 workers.        
    410. Grace Construction and Management Ltd, Derby, DE1, failed to pay £1,113.49 to 1 worker.        
    411. Alveston House Hotel Limited, Thornbury, BS35, failed to pay £1,109.12 to 1 worker.        
    412. Mrs Pearl Moore, Blackpool, FY4, failed to pay £1,094.75 to 3 workers.        
    413. Think Wraps Ltd, Poole, BH12, failed to pay £1,053.08 to 1 worker.        
    414. Telebizz Ltd, Plymouth, PL7, failed to pay £1,048.56 to 72 workers.        
    415. Hill Top Day Nursery Limited, Swadlincote, DE12, failed to pay £1,041.04 to 2 workers.        
    416. W. Corbett & Co. (Galvanizing) Limited, Telford, TF7, failed to pay £1,039.53 to 36 workers.        
    417. Autocare (Benfleet) Limited, Stanford-Le-Hope, SS17, failed to pay £1,032.23 to 2 workers.        
    418. Pork Farms Limited, Nottingham, NG2, failed to pay £1,029.77 to 9 workers.        
    419. Galdin Limited, Hackney, N1, failed to pay £1,024.50 to 5 workers.        
    420. Trinity Park Nursery Ltd, Craigavon, BT67, failed to pay £1,020.97 to 17 workers.        
    421. Mr Thanabalasingam Ketheeswarathas and Mrs Sivasuki Ketheeswarathas, Ipswich, IP2, failed to pay £1,006.83 to 2 workers.        
    422. G P H Carpentry Limited, Newquay, TR8, failed to pay £1,003.04 to 2 workers.        
    423. Euro Car Wash (South East) Limited, Greenwich, SE7, failed to pay £992.56 to 3 workers.        
    424. Mrs Melanie Elizabet Brown, Kirkcaldy, KY1, failed to pay £986.58 to 1 worker.        
    425. A O Hand Car Wash & Valeting Ltd, Peckham, SE15, failed to pay £982.62 to 3 workers.        
    426. Dash-Cae Limited, Oxford, OX14, failed to pay £976.19 to 1 worker.        
    427. Janette Allen Limited, Braintree, CM77, failed to pay £976.18 to 1 worker.        
    428. Ms Sarah Balfour, York, YO10, failed to pay £967.87 to 1 worker.        
    429. Allied Industrial Products Limited, Salford, M5, failed to pay £955.78 to 1 worker.        
    430. Cummins Ltd, Darlington, DL1, failed to pay £954.04 to 11 workers.        
    431. Ramsbottom Cricket Club, Bury, BL0, failed to pay £931.67 to 2 workers.        
    432. Soughton Shoot Limited, Northop, Mold,, CH7, failed to pay £927.24 to 1 worker.        
    433. Mrs Penni Durdy, Doncaster, DN9, failed to pay £924.04 to 1 worker.        
    434. Friends Care Agency Limited, Sandy, SG19, failed to pay £923.84 to 20 workers.        
    435. French Connection UK Limited, Camden, NW1, failed to pay £917.95 to 57 workers.        
    436. Precision Workwear Limited, Stamford, PE9, failed to pay £916.35 to 1 worker.        
    437. Joinex Joinery Express Limited, Brentford, TW8, failed to pay £882.61 to 12 workers.        
    438. Yorkcloud Limited, Ulverston, LA12, failed to pay £872.20 to 2 workers.        
    439. KR Scotland Ltd, Edinburgh, EH3, failed to pay £849.21 to 3 workers.        
    440. The KLE (Berwick) Group Ltd, Berwick Upon Tweed, TD15, failed to pay £838.48 to 2 workers.        
    441. Zig Zag Day Nursery Limited, Peterborough, PE1, failed to pay £827.98 to 21 workers.        
    442. Birdies Day Nursery Limited, Lisburn, BT28, failed to pay £821.32 to 8 workers.        
    443. Sooty Olive Ltd, Waterside, BT47, failed to pay £819.24 to 33 workers.        
    444. Bright Bees Nursery Ltd, Leicester, LE4, failed to pay £817.06 to 1 worker.        
    445. What The Fish Limited, Richmond upon Thames, SW14, failed to pay £801.08 to 1 worker.        
    446. SFC (Edmonton) Limited, Enfield, N9, failed to pay £798.22 to 2 workers.        
    447. Fairytales Day Nursery Limited, Dudley, DY2, failed to pay £793.38 to 7 workers.        
    448. R.G.R. Garages (Cranfield) Limited, Bedford, MK43, failed to pay £791.65 to 1 worker.        
    449. Mad Goose Catering Limited, Ellington, PE28, failed to pay £788.54 to 3 workers.        
    450. Mr Grzegorz Biezunski, Trowbridge, BA14, failed to pay £787.80 to 1 worker.        
    451. Futurerate Limited, Loughborough, LE12, failed to pay £787.20 to 1 worker.        
    452. Kids Korner Day Nurseries Ltd, Belfast, BT6, failed to pay £779.81 to 23 workers.        
    453. Inter County Cleaning Services Limited, Rushden, NN10, failed to pay £754.38 to 106 workers.        
    454. Spring Clean Commercial Ltd, Norwich, NR16, failed to pay £753.17 to 107 workers.        
    455. Clean Living Services Limited, Lambeth, SW8, failed to pay £749.48 to 16 workers.        
    456. Le Petit Francais Ltd, Edinburgh, EH6, failed to pay £744.52 to 10 workers.        
    457. Playworks Childcare Limited, Caerphilly, CF83, failed to pay £743.64 to 5 workers.        
    458. Wickhambrook Stores Limited, Newmarket, CB8, failed to pay £729.88 to 1 worker.        
    459. Rothco Independent Mortgages Ltd, Alnwick, NE66, failed to pay £729.83 to 1 worker.        
    460. James David Segal, Hull, HU1, failed to pay £729.22 to 6 workers.        
    461. Daniel Thwaites Public Limited Company, Blackburn, BB2, failed to pay £724.73 to 23 workers.        
    462. HRUK Group of Companies Ltd, Leeds, LS8, failed to pay £719.11 to 1 worker.        
    463. Historic Hotels & Properties Ltd, Scarborough, YO11, failed to pay £707.11 to 5 workers.        
    464. Penge Car Care ltd, Croydon, SE25, failed to pay £682.48 to 2 workers.        
    465. Craig Gordon Building Services Ltd, Edinburgh, EH11, failed to pay £680.17 to 1 worker.        
    466. Mountview Hotels Ltd, Callander, FK17, failed to pay £672.60 to 1 worker.        
    467. Paragon Quality Foods Ltd, Doncaster, DN3, failed to pay £670.56 to 21 workers.        
    468. Core Electrical Solutions Ltd, Beckenham, BR3, failed to pay £658.78 to 2 workers.        
    469. Snacks Van Ltd, Watford, WD25, failed to pay £658.20 to 1 worker.        
    470. MacDonald Hotels (Management) Limited, Bathgate, EH48, failed to pay £648.78 to 1 worker.        
    471. Kelly Teggin Hairdressing Ltd, Knaresborough, HG5, failed to pay £647.19 to 1 worker.        
    472. Safe Gas (N.I.) Limited, Newtonabbey, BT36, failed to pay £639.10 to 1 worker.        
    473. Harrison Wade Ltd, Manchester, M1, failed to pay £636.04 to 2 workers.        
    474. Spectrum Energy Guard Ltd, Bournemouth, BH1, failed to pay £621.72 to 1 worker.        
    475. Gastronomy Foods UK Limited, Shrewsbury, SY1, failed to pay £618.76 to 51 workers.        
    476. Jobseekrs Limited, Manchester, M15, failed to pay £613.88 to 1 worker.        
    477. Stepping-Stones-Services Limited, Rochdale, OL11, failed to pay £611.13 to 19 workers.        
    478. Tramp Hair Boutique Limited, Stockport, SK1, failed to pay £610.40 to 1 worker.        
    479. Emporio Fashion Ltd, Leicester, LE5, failed to pay £608.85 to 18 workers.        
    480. Halton Concrete Ltd, Widnes, WA8, failed to pay £607.43 to 2 workers.        
    481. Kanto Stranmillis Limited, Belfast, BT9, failed to pay £590.15 to 1 worker.        
    482. Complete Payroll and Accountancy Limited, Altrincham, M33, failed to pay £584.24 to 1 worker.        
    483. Flawless Cleaning Ltd, Smethwick, B66, failed to pay £582.02 to 1 worker.        
    484. Al Halal Supermarket Limited , Bradford, BD7, failed to pay £581.64 to 7 workers.        
    485. Max & Molly Limited, Wigan, WN3, failed to pay £579.96 to 1 worker.        
    486. Happy Children Day Nursery Limited, Ballynahinch, BT24, failed to pay £573.74 to 12 workers.        
    487. Jagard Valeting & Cleaning Services Ltd, Wellingborough, NN8, failed to pay £573.47 to 2 workers.        
    488. 247 Convenience Store (Bury) Ltd, Bury, BL8, failed to pay £571.63 to 1 worker.        
    489. The Race Horses Hotel Limited, Skipton, BD23, failed to pay £566.05 to 2 workers.        
    490. Strategic Facilities Management Ltd, Leeds, LS17, failed to pay £561.18 to 3 workers.        
    491. Mr C Saudin & Mrs P Saudin, Canterbury, CT1, failed to pay £560.48 to 2 workers.        
    492. Golden Car Limited , Perivale, UB6, failed to pay £551.80 to 1 worker.        
    493. Your Friendly Local Limited, Rotherham, S60, failed to pay £549.95 to 6 workers.        
    494. Steven Boom, East Hunsbury, NN4, failed to pay £547.20 to 2 workers.        
    495. M A Fashions Ltd, Leicester, LE5, failed to pay £545.60 to 17 workers.        
    496. Comserv Contracting & Commercial Limited, Stoke-on-Trent, ST3, failed to pay £544.19 to 1 worker.        
    497. Bonner Studs Limited, Walsall, WS2, failed to pay £537.45 to 1 worker.        
    498. M & C Retail Limited, Darlington, DL1, failed to pay £537.36 to 4 workers.        
    499. Legacy Resorts Limited, Newton Stewart, DG8, failed to pay £536.69 to 1 worker.        
    500. E.K.S Living Clean Ltd, Norwich, NR6, failed to pay £533.58 to 5 workers.        
    501. SC HCW Ltd, Belfast, BT5, failed to pay £533.54 to 7 workers.        
    502. David Alexander Forbes, Inverurie, AB51, failed to pay £531.64 to 2 workers.        
    503. Arunagiri UK LTD, Rickmansworth, WD3, failed to pay £530.92 to 2 workers.        
    504. Millfield Haulage Limited, York, YO26, failed to pay £530.91 to 2 workers.        
    505. Ardmore (Co. Derry) Pre-Cast Concrete Limited, Ardmore, BT47, failed to pay £525.69 to 1 worker.        
    506. W1 Soho Ltd., Soho, W1D, failed to pay £523.20 to 1 worker.        
    507. Shree Siddhi Limited, Glasgow, G66, failed to pay £515.76 to 7 workers.        
    508. 41 Cars Hull Ltd, Hull, HU9, failed to pay £515.72 to 2 workers.        
    509. Felix Inns Ltd, Solihull, B92, failed to pay £514.09 to 20 workers.        
    510. Eastchurch Holiday Centre Limited, Eastchurch, ME12, failed to pay £511.70 to 1 worker.        
    511. Surf N Turf Limited, Leicester, LE2, failed to pay £511.63 to 2 workers.        
    512. Red House Garage Limited, St Helens, WA11, failed to pay £511.43 to 1 worker.        
    513. Classic Decorators (UK) Limited, Barry, CF63, failed to pay £511.43 to 1 worker.        
    514. John Codona’s Pleasure Fairs Limited, Aberdeen, AB24, failed to pay £505.82 to 3 workers.        
    515. Timberquay Limited, Derry, BT48, failed to pay £503.98 to 14 workers.        
    516. Ace Support FM Ltd, Barnet, N14, failed to pay £501.60 to 1 worker.        
    517. Sleepwell (Cumbria) Limited, Barrow In Furness, LA14, failed to pay £500.95 to 1 worker.        
    518. Blank Brixton Ltd, Brixton, SW2, failed to pay £287.31 to 1 worker.        

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Video: “Trillions of dollars added to the economy” – Google’s chief economist on the macro impact of AI

    Source: World Economic Forum (video statements)

    The World Economic Forum’s latest Chief Economists Outlook highlights the risks posed by global trade tensions, and examines the potential impact AI will have on economic growth.
    Google’s chief economist, Fabien Curto Millet, gives his take on the Outlook and the impact of GenAI, which he calls “the most exciting thing technologically I’ve seen in my lifetime”.

    Links:
    Chief Economists Outlook May 2025: https://wef.ch/chiefeconmay25

    Related podcasts:
    The global economy ‘at a crossroads’ ahead of Davos: Chief Economists Outlook: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-ralph-ossa-wto/
    Slow growth and the cost of debt: the World Bank’s Chief Economist on the global outlook: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-world-bank-indermit-gill/
    The global economy is slowing – here’s why that may not be such a bad thing: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-september-2023-jerome-haegeli-swiss-re/

    Check out all our podcasts on wef.ch/podcasts:
    YouTube: – https://www.youtube.com/@wef/podcasts
    Radio Davos – subscribe: https://pod.link/1504682164
    Meet the Leader – subscribe: https://pod.link/1534915560
    Agenda Dialogues – subscribe: https://pod.link/1574956552
    Join the World Economic Forum Podcast Club: https://www.facebook.com/groups/wefpodcastclub

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    Twitter ► https://twitter.com/wef
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    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #WorldEconomicForum

    https://www.youtube.com/watch?v=WLW5_yJxO-w

    MIL OSI Video

  • MIL-OSI China: Announcement on Open Market Operations No.101 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.101 [2025]

    (Open Market Operations Office, May 29, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB266 billion through quantity bidding at a fixed interest rate on May 29, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB266 billion

    RMB266 billion

    Date of last update Nov. 29 2018

    2025年05月29日

    MIL OSI China News

  • MIL-OSI Banking: Speech: Samantha McCulloch closing address to the 2025 Conference & Exhibition – Australian Energy Producers

    Source: Australian Petroleum Production & Exploration Association

    Headline: Speech: Samantha McCulloch closing address to the 2025 Conference & Exhibition – Australian Energy Producers

    During my opening remarks I noted that despite some sobering messages from our Wood Mackenzie study on Australia’s investment competitiveness, there is cause for optimism.  

    This week has demonstrated why. 

    We’ve had the welcome announcement from the Queensland Government that it’s releasing nine new areas for future gas exploration to boost future supply. 

    The Minister said: Queensland is open for business.  

    Yesterday, Minister Murray Watt announced the conditional approval of Woodside Energy’s North West Shelf extension – a critical project for Western Australia’s long-term energy security and economic growth.  

    I commend the Minister for backing this vital project, and being guided by science and evidence.   

    On the opening morning of the conference, we heard from Resources Minister Madeleine King who recommitted to implementing the Government’s Future Gas Strategy, including the much-needed reforms to clarify consultation requirements for offshore projects.  

    And, importantly, the Minister acknowledged the enormous economic benefits that Australia’s LNG investment and trade continues to deliver for our nation, observing that ”Every Australian receives a dividend from our energy exports.” 

    And I acknowledge Senator McDonald and the Coalition’s commitments during the election campaign to also back the North West Shelf extension and the coalitions continued support for our industry.  

    As the Prime Minister said earlier in the week, the energy transition cannot happen without security of energy supply, “because you will lose community support if people flick on the switch and the lights don’t go on.” 

    Or as Minister King put it, “You can’t get a transition through warm thoughts”.  

    The fact is that Australia needs the reliable and affordable energy that natural gas delivers.  

    And that will require continued investment in gas exploration and development. 

    I remarked at the start of the conference that Queensland’s gas industry is testament to what can be achieved when government and industry work together.  

    And the Queensland Government continues to build on that legacy.  

    It was encouraging to hear Queensland Treasurer David Janetzki tell our conference that at the heart of his government’s aspiration on energy generation is a simple principle – more 

    “We need more supply to meet future demand and put downward pressure on power prices.” 

    And we also heard this morning from Northern Territory Chief Minister Lia Finocchiaro about her government’s commitment to speed up approvals to unlock more gas supply in the Territory.  

    The Western Australian and South Australian Governments are also backing the role of gas in their economic and energy security.  

    We just need this sentiment to spread to Victoria and NSW.  

    I think Kevin Gallagher would agree.  

    We chose this year’s conference theme: The Energy Edge, to highlight the opportunity for Australia to harness its competitive strengths amid the global energy transformation.  

    Our abundant gas reserves, our innovation, and our proximity to fast growing markets mean we are ideally placed to remain an energy powerhouse.  

    To quote former Australian Ambassador to the United States Joe Hockey’s advice to our industry on what our message to government should be: 

    “Give us certainty and stability, and we can do the job. We can give Australians cheaper energy. We can give people in the world greater opportunity… [and] We can make Australia richer.” 

    I could not agree more.  

    And, judging by the extraordinary work that our industry is leading and that has been showcased here this week – in the plenary sessions, the technical presentations, the conversations on the exhibition floor – I am confident that our industry is well placed to harness our energy edge.

    MIL OSI Global Banks

  • MIL-OSI United Kingdom: Statement: UK and EU welcome Viet Nam JETP progress

    Source: United Kingdom – Government Statements

    Press release

    Statement: UK and EU welcome Viet Nam JETP progress

    The UK and EU welcome progress on Viet Nam’s Just Energy Transition Partnership as President Macron of France visits the country

    On behalf of the International Partners Group (IPG), the European Union and the United Kingdom – IPG co-leads for the Viet Nam Just Energy Transition Partnership (JETP) – warmly welcome French President Emmanuel Macron’s visit to Viet Nam, reaffirming support for Viet Nam’s goal to deliver a clean energy transition that is inclusive and rooted in sustainable growth on the pathway to ‘net zero’ emissions by 2050.  

    On 26th May, President Macron and President Lương Cường announced progress on two important JETP-supported investment projects:

    • A Credit Financing Agreement between Electricity of Vietnam National Power Transmission Corporation (EVN NPT) and Agence Française de Développement (AFD) of €67 million to build a 500kV transmission line and substations across the Binh Duong and Dong Nai provinces. This project will increase the national transmission network’s capacity to integrate renewable energy and deliver reliable electricity in key economic regions in southern Viet Nam.

    • A Memorandum of Understanding (MoU) between EVN and AFD as coordinator of six IPG Development Finance Institutions (AFD, EIB, JICA, KfW, CDP, and Proparco) and the EU, acknowledging €490 million for the construction of the first 1200 MW Pumped Storage Hydropower project in Vietnam located in Bac Ai, Ninh Thuan province. This large-scale energy storage project will improve grid resilience and enable further integration of variable renewable energy sources into Vietnam’s energy mix. This pilot project also contributes to the development of regulatory, financial, and investment approaches, paving the way for related future partnerships.

    France’s and IPG’s €547 million financial contribution to these two flagship energy transition projects marks an important step towards delivering the public finance commitments under the JETP.

    The EU and UK remain fully committed to the JETP as co-leads, working with Viet Nam as it continues to raise ambitions for tackling emissions, limiting coal and increasing the share of renewables as set out in the recently revised of National Power Development Plan (PDP8).

    In addition to mobilising project-specific finance, the IPG will continue to engage closely with the Government of Viet Nam, the Glasgow Financial Alliance for Net Zero (GFANZ), and wider JETP partners, to promote a strong enabling policy environment for developers and investors that drives Viet Nam’s future green growth ambition.

    What is the JETP ?

    The Just Energy Transition Partnership (JETP) is a cooperation initiative and related Political Declaration agreed in December 2022 between Viet Nam and the International Partners Group (IPG; now comprised of the European Union, the United Kingdom, Canada, Denmark, France, Germany, Italy, Japan, Denmark and Norway, and co-led by the EU and the UK. The overarching goal is to support the country’s energy transition trajectory towards its 2050 net zero emissions commitment. The JETP Political Declaration consequently sets out 3 main targets:

    1. Accelerate and cap the peaking of GHG emissions from the power sector at 170 million tons of CO₂ equivalent by 2030;
    2. Limit the installed capacity of coal-fired power plants to 30.2 gigawatts by 2030;
    3. Increase the share of renewable energy in the power mix to 47% by 2030, promoting investments in wind, solar, and other clean energy sources.

    In support of these targets, the JETP partners secured original funding commitments of $15.5 billion, including $7.5 billion public sector finance from IPG members (grants, concessional and commercial loans and instruments) and $7.5 billion private sector finance facilitated by the Glasgow Financial Alliance for Net Zero (GFANZ). 

    JETPs are also being implemented to support the energy transitions in South Africa, Indonesia and Senegal.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: President Lai meets US delegation led by Senator Tammy Duckworth

    Source: Republic of China Taiwan

    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman”>Details
    2025-05-27
    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman
    On the afternoon of May 27, President Lai Ching-te met with a delegation led by Chair of the Natural Resources Committee of the United States House of Representatives Bruce Westerman. In remarks, President Lai stated that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. The president said that Taiwan will continue to increase purchases from and together build non-red supply chains with the US, expressing hope that economic and trade relations grow even closer and that both work together to jointly safeguard peace and stability throughout the region. A translation of President Lai’s remarks follows: I am delighted to meet and exchange views with members of the US House Committee on Natural Resources today. Chair Westerman, the leader of this delegation, is an old friend of Taiwan. On behalf of the people of Taiwan, I extend a very warm welcome to the delegation. I also want to thank you all for your long-term close attention to Taiwan-related affairs and your strong support for Taiwan. Taiwan and the US enjoy close ties and share ideals and values. There is an excellent foundation for cooperation between us, particularly in such areas as energy, the economy and trade, agriculture and fisheries, environmental protection, and sustainable development. In recent years, Taiwan-US ties have grown closer and closer. The US has become Taiwan’s largest destination for overseas investment, accounting for over 40 percent of Taiwan’s outbound investment. Taiwan is also the seventh largest trading partner of the US and its seventh largest export market for agricultural products. The SelectUSA Investment Summit held in Washington, DC earlier this month was the largest in its history. Taiwan’s delegation, representing 138 enterprises, was once again the biggest delegation attending the event. This shows that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. Looking ahead, with the global landscape changing rapidly, Taiwan will continue to increase purchases from the US, including energy resources such as natural gas and petroleum, as well as agricultural products, industrial products, and even military procurement. This will not only help balance our bilateral trade, but also strengthen development for Taiwan in energy autonomy, resilience, the economy, and trade. Taiwan and the US are also well-matched in such areas as high tech and manufacturing. As the US pursues reindustrialization and aims to become a global hub for AI, Taiwan is willing to take part and play an even more important role. We will strengthen Taiwan-US industrial cooperation and together build non-red supply chains. In addition to bringing our economic and trade relations even closer, this will also allow Taiwanese industries to remain rooted in Taiwan while expanding their global presence, helping bolster the US, and marketing worldwide. As for military exchanges, we are grateful to the US government for continuing its military sales to Taiwan and backing our efforts to upgrade our self-defense capabilities. Taiwan will continue to work with the US to jointly safeguard peace and stability throughout the region. In closing, I thank our guests once again for making the long journey here, not only offering warm friendship, but also demonstrating the staunch bipartisan support for Taiwan in the US Congress. Chair Westerman then delivered remarks, saying that it is an honor for him and his colleagues to be in Taiwan to talk about the strong relationship between the US and Taiwan and how that relationship can continue to grow in the future. The chair pointed out that natural resources are foundational to any kind of economic development, whether it is energy, which is key to manufacturing, or whether it is mining, which provides rare earth elements and all the minerals and metals needed for manufacturing. He said that as for natural resources including fish, wildlife, or timber, all are foundational to any society, but this is especially so for agriculture, noting that the US produces a lot of food and fodder and is always looking for more friends to share that with. Chair Westerman indicated that they are excited about opportunities to work with Taiwan, adding that Taiwan’s investments in the US have been greatly appreciated. He said they also are excited about the talks with the Trump administration and the future going forward on how we can have a stronger trade relationship, a stronger bilateral relationship, and how we can work with each other to help both economies grow and prosper. Chair Westerman concluded his remarks by expressing thanks for the opportunity to visit, saying that they treasure Taiwan’s friendship and our long-term relationship, and are very excited to be able to discuss in more detail how our two countries can work together. The delegation also included US House Natural Resources Committee Representatives Sarah Elfreth, Harriet Hageman, Celeste Maloy, and Nick Begich. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.  

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    2025-05-27
    President Lai meets and hosts luncheon for delegation led by Governor Lourdes A. Leon Guerrero of Guam
    On the morning of May 27, President Lai Ching-te met with a delegation led by Governor Lourdes A. Leon Guerrero of Guam and her husband, and hosted a luncheon for the delegation at noon. In remarks, President Lai noted that this is the governor’s first trip to Taiwan, fully demonstrating the Guam government’s support and high regard for Taiwan. The president said that Guam, being the closest United States territory to Taiwan, is an important bridge for collaboration between Taiwan and the US. He stated that aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas to further advance industrial development for both sides. He said that, as we begin a new chapter, we look forward to working together to generate even more momentum in bilateral cooperation and exchanges. A translation of President Lai’s remarks follows: On behalf of the people of Taiwan, I extend a warm welcome to Governor Leon Guerrero and her delegation. Last year, I transited through Guam en route for visits to Taiwan’s diplomatic allies in the Pacific. The enthusiastic reception I received from the government, legislature, people, and members of our overseas community in Guam was very touching and left me with a deep impression. During the morning tea reception hosted by Governor Leon Guerrero, we joined in singing our respective national anthems, as well as the Fanohge CHamoru. I also received at the Guam Legislature a copy of a Taiwan-friendly resolution it passed on behalf of the people of Taiwan. And I still remember to this day the striking scenery of the governor’s house and the warm reception I received there. It is therefore a great pleasure to meet with all of you today here at the Presidential Office. This is Governor Leon Guerrero’s first trip to Taiwan. Your visit fully demonstrates the Guam government’s support and high regard for Taiwan. As we begin a new chapter, we look forward to working with you to generate even more momentum in bilateral cooperation and exchanges. Taiwan and Guam are like family. We share the Austronesian spirit and culture. Our wide-ranging and mutually-beneficial collaboration is very fruitful. And now, we are facing the challenges of climate change, public health and medicine, and regional security together. The world is rapidly changing and tensions in the Indo-Pacific continue to rise. But if we combine our strengths, come together as one, and enhance cooperation, we can maintain regional peace, stability, and prosperity. Last Tuesday, I delivered an address on my first anniversary of taking office. I mentioned that for many years, Taiwan, the US, and our democratic partners have actively engaged in exchange and cooperation. Taking a market-oriented approach, we will promote an economic path of staying firmly rooted in Taiwan and expanding the global presence of our enterprises while strengthening ties with the US. Guam is the closest US territory to Taiwan. It is an important bridge for collaboration between Taiwan and the US. Last month, we were pleased to see United Airlines officially launch direct flights between Taipei and Guam. I believe this will benefit tourism and economic and trade exchanges for both sides. In the area of health care, many hospitals in Taiwan already offer referral services to patients from Guam. Both Governor Leon Guerrero and I have backgrounds in medicine. It is my hope that Taiwan and Guam can continue to work hand in hand to create even more positive outcomes from cooperation in public health and medical services. During the governor’s visit, aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas. There is potential for more exchanges in aquaculture, food processing, hydroculture, manufacturing, pharmaceuticals, and recycling. This will further advance industrial development in Taiwan and Guam. In closing, I thank Governor Leon Guerrero and all our distinguished guests for backing Taiwan. I wish you all a smooth and successful visit.  Governor Leon Guerrero then delivered remarks, saying that she is very happy to come to Taiwan. She said that after learning during President Lai’s visit to Guam last year that he is a medical doctor, she felt more relaxed because healthcare colleagues are one in their endeavor to help enhance the health and well-being of people. She then expressed her heartfelt appreciation for the invitation to Taiwan.  Governor Leon Guerrero said that as they learn more about opportunities for collaboration with Taiwan, they are humbled by the hospitality they have experienced. In both of our islands, she said, hospitality is more than just a custom – it forms a part of our identities. She noted that despite being nearly 2,000 miles apart, we are connected by the Pacific Ocean and common roots, and our ancestors both value family, community, and tradition. That is why being here today, she said, she feels a strong sense of familiarity, like reconnecting with old friends. The governor remarked that Taiwan has evolved so quickly in all areas of essential life, sustenance, economy, and prosperity, adding that Taiwan’s resources in such areas as health, education, data, AI, advanced technology, aquaculture, agriculture, and commerce enhance our economic stability. She stated her belief that in collaboration and support, and working with each other, we can gain prosperity, maintain freedom and democracy, and live in peace.  Governor Leon Guerrero stated that their delegation is here to see how they can partner with Taiwan to help raise the quality of life for both our peoples, mentioning that one special concern of theirs is tourism. Tourism, she said, is the most influential engine and driver for the economy and quality of life in Guam, but they cannot have a vibrant economy and tourism without air connectivity. She added that they are prepared to help in any way to provide incentives and low-cost fees so that they can get more airlines from Taiwan to establish permanent flight schedules to Guam, so as to drive development in Guam’s tourism industry. Governor Leon Guerrero then proceeded to introduce each of the members of her delegation before remarking that while they have been very busy on this visit they are always reminded of the freedom and democracy that the people must protect. She said she looks forward to a great, strong relationship between Taiwan and Guam in cooperation on social and economic issues, in culture, marketing, tourism, and freedom and democracy. Among those in attendance were First Gentleman Jeffrey A. Cook, Chief of Staff Jon Junior Calvo, Director of the Department of Administration Edward Birn, General Manager of the Guam Visitors Bureau Regine Biscoe Lee, Deputy Executive Manager of the Guam International Airport Authority Artemio “Ricky” Hernandez, Board of Directors Chairman of the Guam International Airport Authority Brian J. Bamba, Deputy General Manager of the Guam Economic Development Authority Carlos Bordallo, Director of Landscape Management Systems Guam Bob Salas, Chairperson of the Guam Chamber of Commerce Tae Oh, President of the University of Guam Anita Borja Enriquez, and Director of the Guam Taiwan Office Felix Yen (嚴樹芬). After the meeting, President Lai, accompanied by Vice President Bi-khim Hsiao, hosted a luncheon for Governor Leon Guerrero, her husband, and the delegation.

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    2025-05-27
    President Lai meets delegation from European Parliament
    On the morning of May 27, President Lai Ching-te met with a delegation from the European Parliament. In remarks, President Lai thanked the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait and voice support for Taiwan. The president expressed hope for an even closer relationship and diversified cooperation between Taiwan and the European Union. The president said that Taiwan and the EU can work together in such areas as semiconductors, AI, and green energy to create more resilient supply chains for global democracies and contribute to global prosperity and development. A translation of President Lai’s remarks follows: I warmly welcome our guests to the Presidential Office. After being elected last year, MEPs Reinis Pozņaks and Beatrice Timgren are making their first visits to Taiwan, demonstrating support for Taiwan through concrete action. On behalf of the people of Taiwan, I extend my sincerest welcome and appreciation. I would also like to take this opportunity to thank the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait. Just last month, the European Parliament adopted resolutions with regard to annual reports on the implementation of the European Union’s Common Foreign and Security Policy and Common Security and Defence Policy. These resolutions reaffirmed the EU’s steadfast commitment to maintaining the status quo across the Taiwan Strait. The European Parliament also condemned China for continuing to take provocative military actions against Taiwan and emphasized that Taiwan is a key democratic partner in the Indo-Pacific region. It called on the EU and its member states to continue working closely with Taiwan to strengthen economic, trade, and investment ties. Once again, I thank the European Parliament for voicing support for Taiwan. Just as MEPs Pozņaks and Timgren are visiting Taiwan to strengthen Taiwan-EU exchanges, our Minister of Economic Affairs Kuo Jyh-huei (郭智輝) also led a delegation to Europe last year, marking the first in-person dialogue between high-ranking economic and trade officials of Taiwan and the EU. Moving ahead, we look forward to bringing Taiwan-EU ties even closer and to diversifying our cooperation. The EU is Taiwan’s largest source of foreign investment. Both sides are highly complementary in such areas as semiconductors, AI, and green energy. Through our joint efforts, we can create more resilient supply chains for global democracies and further contribute to global prosperity and development. Looking ahead, I hope that MEPs Pozņaks and Timgren will continue to make the case in the European Parliament for the signing of a Taiwan-EU economic partnership agreement. This would not only yield mutually beneficial development, but also consolidate economic security and boost international competitiveness for both sides. In closing, I am sure that you will gain a deeper understanding of Taiwan through this visit. Please feel welcome to come back as often as possible as we continue to elevate Taiwan-EU ties.  MEP Pozņaks then delivered remarks, saying that it is a great honor to be here and thanking everybody involved in arranging this trip that allows them the opportunity to better know Taiwan. He added that it is definitely not the last time they will be here, as Taiwan is a very beautiful country. MEP Pozņaks mentioned that he comes from Latvia, and despite their being on the other side of the world, they know how the Taiwanese people feel, because they also have a big neighbor who is claiming that Latvia belongs to them. Unfortunately, he said, there is already war in Europe, but he is confident that their situation is similar to Taiwan’s, adding that they have a neighbor who uses disinformation attacks. MEP Pozņaks said that we live in very challenging times, and that our choices will define the future of the world, asking whether it will be a world where the rule of law prevails or where physical power and aggression succeeds. Coming from a small country, he said he clearly understands that for them there is no other possibility; they must protect the world where the rule of law prevails. That is why now, he emphasized, it is very crucial for all democracies around the world to stick together to protect our freedoms, values, and democracy. MEP Timgren then delivered remarks, thanking President Lai for meeting with them and saying it is a big honor. Noting that they arrived here two days ago and that while she really loves Taiwan, its food, and the good weather, she stated that the reason they are here is because of the values that we share, our good relationships, and solidarity with other democratic countries in the world, which is important for them in Europe and in Sweden. MEP Timgren, referring to MEP Pozņaks’s earlier remarks, said that they face a big threat from Russia that is discernible even in the European Parliament. Actually, she pointed out, there is a war inside Europe that shows us how important it is that we support one another. She said that the Russian people thought it would be easy to take over Ukraine, but it was not, because all European countries stepped up and provided weapons and support. And that is why, MEP Timgren said, it is important that democratic countries maintain good relationships and let China and Russia see that we have good relationships, because a part of defense is solidarity. In closing, she expressed her gratitude for having the honor to be here in this beautiful country.

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    2025-05-20
    President Lai hosts state banquet for President Surangel Whipps Jr. of Republic of Palau
    On the evening of May 20, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, hosted a state banquet at the Presidential Office in honor of President Surangel Whipps Jr. of the Republic of Palau and his wife. In remarks, President Lai said that he looks forward to working closely with President Whipps to promote tourism exchanges and sports cooperation so that Taiwan and Palau shine brightly together on the international stage. A translation of President Lai’s remarks follows: It is a pleasure to host this banquet tonight at the Presidential Office for President Whipps, First Lady Valerie Whipps, and the esteemed members of their delegation. Welcome to Taiwan. During my trips to Palau in 2022 and last year, President and First Lady Whipps received me with great hospitality. Wearing my island shirt, I enjoyed a very friendly reception from the people of Palau. It felt warm and friendly, just like being welcomed back home. The first time I visited Palau, President Whipps and I piloted a boat to the Milky Way lagoon. We both tried volcanic mud facial masks. We also fished together and enjoyed the breeze as we walked on the beach. Last year, on my second visit to Palau, I was honored to be invited to address the National Congress. I also observed the results of the close bilateral cooperation between our two nations. Due to its world-famous ocean scenery, Palau is sometimes referred to as “God’s aquarium.” And it is even possible to snorkel with sharks. It leaves a deep impression. Nothing compares to seeing Palau firsthand. During the COVID-19 pandemic, Taiwan and Palau launched a travel bubble that created a safe means of travel. Now, with the pandemic behind us, I hope that even more Taiwanese can tour Palau and gain a greater understanding of our diplomatic ally. In addition to tourism exchanges, I mentioned on my visit to Palau last year that I hoped Taiwan and Palau could promote sports cooperation by providing training away from home. Next month, Palau will be holding the Pacific Mini Games. And right now, Palau’s national baseball and table tennis teams are holding training sessions here in Taiwan. We will do our utmost to support Palau’s national players and we hope they stand out and achieve outstanding results in the events. I look forward to working closely with President Whipps so that Taiwan and Palau shine brightly together on the international stage. Thank you! Mesulang! President Whipps then delivered remarks, saying that it is truly an honor to be here once again one year after President Lai’s inauguration. Mentioning that this is his first state visit after being reelected to a second term, he said that it is important to be here among friends, and that we are more than friends, we are family. He thanked President Lai for the generous words and, most importantly, Taiwan’s enduring support. He remarked that our relationship continues to get stronger in each passing year. President Whipps said that President Lai’s diplomacy initiative, leadership, and vision deeply resonate with them. Diplomacy must be rooted in our shared values, he said, and an unwavering support for our allies and a commitment to a sustainable, inclusive development are all deeply appreciated by their people. President Whipps emphasized that, as we look into the future and the challenges that we face, from security to climate change, it is so important that we are united. He added that it is important for the world, and especially important for them in Palau, that they stand up for Taiwan, so that Taiwan can participate on international fora that address climate change, security, and health, because they know the world is better when Taiwan has a seat at the table. Mentioning that Palau will host the Pacific Islands Forum next year, President Whipps said that Palau remains committed to working closely with Taiwan to ensure a successful event, and that they will continue to speak up for Taiwan’s indispensable contributions as we stand together against any efforts to silence or isolate democratic partners. President Whipps said that our nations have navigated challenges and emerged stronger, bound by a partnership that is built on trust, respect, and hope for a better world. Whether it is in clean energy, education, smart medicine, or tourism, our shared journey is just beginning, he said, and we are stronger together.  Also in attendance at the banquet were Palauan Minister of State Gustav Aitaro, Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.

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    2025-05-20
    President Lai and President Surangel S. Whipps, Jr. of Palau hold bilateral talks and witness signing of cooperation agreements  
    On the afternoon of May 20, following a welcome ceremony with military honors for President Surangel S. Whipps, Jr. of the Republic of Palau and his wife, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Whipps at the Presidential Office. The two leaders also jointly witnessed the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation. In remarks, President Lai thanked Palau for standing firm in its backing of Taiwan’s international participation as geopolitical tensions continue to increase in the Pacific region. He added that he looks forward to the cooperative ties between Taiwan and Palau continuing to expand into even broader areas, allowing our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. A translation of President Lai’s remarks follows: I welcome our guests to Taiwan once again. Last year on May 20, President Whipps led a delegation to attend the inauguration ceremony for myself and Vice President Hsiao. I am delighted, on the anniversary of my first year in office, to meet with old friends of Taiwan again, as President Whipps returns for this visit. Taiwan-Palau relations have grown even closer in recent years thanks to the strong support of President Whipps. In 2022, during my term as vice president, I led a delegation to Palau as a demonstration of how our nations were together boosting tourism development as we jointly faced the challenges of the COVID-19 pandemic. Every time I visit Palau, and every time I meet with President Whipps, I feel very deeply that Taiwan and Palau are like family. We are both maritime nations and share a common Austronesian heritage and culture. We are also staunch partners in upholding such values as freedom, democracy, and respect for human rights. Last December, when I went on my first overseas trip since taking office, one of the nations I visited was Palau. We celebrated the 30th anniversary of Palau’s independence and 25 years of diplomatic relations, underscoring our friendly ties. Taiwan and Palau enjoy close exchanges and cooperation in a range of areas, including climate change, education, agriculture and fisheries, healthcare, humanitarian assistance, sports, and culture. After this meeting, President Whipps and I will witness the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation, demonstrating once again our diverse collaboration and strong friendship. I believe that by working together, Taiwan and Palau can contribute to each other’s development and overcome the regional and global challenges we currently face. In particular, as geopolitical tensions continue to increase in the Pacific region, Palau has wisely and courageously upheld democratic values and stood firm in its backing of Taiwan’s international participation. Palau has never stopped voicing support for Taiwan, including at the United Nations General Assembly, the World Health Organization, the UN Framework Convention on Climate Change Conference of the Parties, and the UN Ocean Conference. We have been deeply moved by this support. I thank President Whipps again for his high regard and support for Taiwan. I look forward to the cooperative ties between our nations continuing to expand into even broader areas. This will allow our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. President Whipps then delivered remarks, saying that it is a great honor for him to be here, standing in this historic place – a symbol of strength, resilience, and the democratic spirit of the Taiwanese people. On behalf of the government of Palau, President Whipps extended heartfelt gratitude to President Lai and the people of Taiwan for the warm welcome and gracious hospitality toward him and his delegation. President Whipps then extended sincere thanks for President Lai’s visit to Palau in December – his second visit to Palau – and for having Minister of Foreign Affairs Lin Chia-lung (林佳龍) attend his inauguration as a special envoy. He added that this also marks his third visit to Taiwan since President Lai took office, saying that this demonstrates the strength of our growing relationship. President Whipps indicated that the increased engagements and numerous entrepreneurs that President Lai has brought from Taiwan to Palau have resulted in fruitful visits, and that President Lai’s leadership represents hope, unity, and continued advancement of democracy and freedom, not only for Taiwan, but for the broader Indo-Pacific region. President Whipps went on to say that this visit to Taiwan reaffirms our deep friendship and shared values between our two nations. He emphasized that Palau and Taiwan are bound not by proximity, but by purpose, in that both are island nations and believe in human dignity, the rule of law, and the right of our people to determine their own futures. President Whipps stated that although we are celebrating 26 years of diplomatic relations, Taiwan has been a steadfast partner of Palau for decades, and that one of the MOUs they are signing further extends the relationship that began in December of 1984. From healthcare and medical missions, to education, agriculture, renewable energy, infrastructure, the private sector, tourism development, and climate resilience, he said, our cooperation has improved lives and strengthened our communities. The president also indicated that during the COVID-19 pandemic, Taiwan stood with Palau, noting that both sides began the tourism bubble, and that President Lai came to Palau to reopen the two weekly direct flights that have now been increased to four. That solidarity will never be forgotten, he said. As the world faces growing uncertainty and complex challenges from climate change to global tensions, President Whipps said, this friendship becomes even more vital. The president concluded his remarks by expressing hope that both nations continue to stand together, work together, and advocate together for peace, prosperity, and for the right of small nations to be seen, heard, and respected. After the bilateral talks, President Lai and President Whipps witnessed the signing of the technical cooperation agreement and the agreement on diplomatic staff training cooperation by Minister Lin and Palauan Minister of State Gustav Aitaro. The delegation also included Palauan Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.  

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    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI: SPEC Releases New SPECapc for SNX 2024 Benchmark

    Source: GlobeNewswire (MIL-OSI)

    GAINESVILLE, Va., May 29, 2025 (GLOBE NEWSWIRE) — The Standard Performance Evaluation Corporation (SPEC), the trusted global leader in computing benchmarks, today announced the availability of an all-new SPECapc for SNX 2024 benchmark, providing a completely new take on measuring Siemens NX CAD and CAM software performance. Siemens NX is award-winning, processor-intensive software that helps designers and manufacturers deliver better products faster through a powerful combination of CAD and CAM solutions. The new benchmark runs on the continuous release version of Siemens NX, which will enable SPEC to update the benchmark more frequently.*

    The SPECapc for SNX 2024 benchmark executes graphics tests that include rotation, pan, zoom and clipping for each model. Viewport tests within the benchmark measure performance for field of view and feature regeneration operations. Anti-aliasing can be enabled or disabled to allow users to assess performance differences between the two modes. With the SPECapc for SNX 2024 benchmark, the range of application users, including professionals, students, and artists, as well as hardware developers and vendors, can discover how different hardware configurations affect the performance of the application.

    “SPEC is committed to providing the Siemens NX user and development communities with a fair and reliable benchmark for Siemens NX, and we are grateful for the opportunity to work with Siemens to make this happen,” said SPECapc Chair Jessica Heerboth. “We rigorously developed this benchmark according to our principles for creating a good benchmark, which include it being vendor agnostic, unbiased, use-case-dependent, scalable, extensible and more. These characteristics ensure the most accurate performance measurements, enabling the best possible decisions when making hardware purchases to run this processor-intensive design software.”

    Key features of the SPECapc for SNX 2024 benchmark

    • Exporting models to different file formats – This test measures exports to STEP and IGES, the most frequently used file formats.
    • Closest point calculations – This test measures a picked point in space for every surface / edge on a model and calculates which point on the model is closest.
    • Mass property calculations – For every solid body in the model, this test calculates the vector of mass / inertia / movement, etc. The test calculates forces in physical simulations: volume, mass, center of mass, moments, moments of inertia, spherical moments of inertia, radii of gyration, etc.
    • Model loading – This test measures the basic app function of opening and loading a model.
    • Display mode – This test iterates through multiple modes.
    • Cross section – This test cuts a model in half and rotates it around, providing a detailed look at the inside of a model – all the parts and details and how they fit together.
    • Explosion – This test explodes out to show an inner view of a model. It is similar to the cross section test but provides a view of each part individually without the detail of how they fit together.
    • Sync views – This test provides two different views of the model and rotates them in a synchronized fashion, providing a view of how things fit and potentially fuse together from different angles.
    • Multiple viewports – This test provides six different views of a model from different perspectives. It continuously shows the model from all angles to increase awareness of how changes affect the model.

    Available for Immediate Download
    The SPECapc for SNX 2024 benchmark is available for immediate download from SPEC under a two-tiered pricing structure: free for the user community and $2,500 for sellers of computer-related products and services. SPEC/GWPG members receive benchmark licenses as a membership benefit.

    About SPEC
    SPEC is a non-profit organization that establishes, maintains and endorses standardized benchmarks and tools to evaluate performance for the newest generation of computing systems. Its membership comprises more than 120 leading computer hardware and software vendors, educational institutions, research organizations, and government agencies worldwide.

    *Please note: The SPECapc for SNX 2024 benchmark can run on the latest continuous release version of Siemens NX; however, since each new application build version can differ in terms of performance and output, please refer to the benchmark run rules for the exact Siemens NX build version officially supported.

    Media contact:
    Brigit Valencia
    360.597.4516
    brigit@compel-pr.com

    Images available upon request.
    SPEC® and SPECapc® are trademarks of the Standard Performance Evaluation Corporation. All other product and company names herein may be trademarks of their registered owners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f0ac75e-fb34-4c2b-855a-c839ce7313c0

    The MIL Network

  • MIL-OSI: Futu Announces First Quarter 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, May 29, 2025 (GLOBE NEWSWIRE) — Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Operational Highlights

    • Total number of funded accounts1 increased 41.6% year-over-year to 2,673,119 as of March 31, 2025.
    • Total number of brokerage accounts2 increased 30.0% year-over-year to 4,955,319 as of March 31, 2025.
    • Total number of users3 increased 16.8% year-over-year to 26.3 million as of March 31, 2025.
    • Total client assets increased 60.2% year-over-year to HK$829.8 billion as of March 31, 2025.
    • Daily average client assets were HK$790.4 billion in the first quarter of 2025, an increase of 64.7% from the same period in 2024.
    • Total trading volume in the first quarter of 2025 increased by 140.1% year-over-year to HK$3.22 trillion, in which trading volume for U.S. stocks was HK$2.25 trillion, and trading volume for Hong Kong stocks was HK$916.0 billion.
    • Margin financing and securities lending balance increased 33.7% year-over-year to HK$50.3 billion as of March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Total revenues increased 81.1% year-over-year to HK$4,694.6 million (US$603.4 million).
    • Total gross profit increased 85.9% year-over-year to HK$3,945.7 million (US$507.2 million).
    • Net income increased 107.0% year-over-year to HK$2,142.7 million (US$275.4 million).
    • Non-GAAP adjusted net income4 increased 97.7% year-over-year to HK$2,216.9 million (US$285.0 million).

    Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “We started 2025 on a strong note, adding approximately 262 thousand funded accounts in the first quarter, up 47.8% year-over-year and 21.9% quarter-over-quarter. Total funded accounts reached 2.7 million, representing a 41.6% increase year-over-year and a 10.9% increase quarter-over-quarter. Hong Kong remained the top contributor to new funded accounts, as our marketing initiatives effectively leveraged the Hong Kong market rally and IPO boom. We believe that brokers with leading brand equity, product experience and execution capabilities will gain outsized benefits from strong equity market performance. Malaysia posted the fastest sequential growth in new funded accounts among all seven markets. After a year of rapid market share gain in Malaysia, we think there is ample headroom for further growth and will continue to invest in our product and our brand. In Japan, new funded accounts enjoyed robust growth and reached a historic high, as we solidified our position as the go-to broker for U.S. stock trading. Funded account growth accelerated in the U.S. as we enhanced our offerings for active traders and our high-profile advertising campaigns boosted brand visibility. With one-third of our full-year target already achieved, we remain firmly on track to meet our guidance of 800 thousand net new funded accounts in 2025.”

    “Total client assets reached HK$829.8 billion, up 60.2% year-over-year and 11.6% quarter-over-quarter, thanks to record net asset inflow. In Singapore, total client assets rose 11.4% quarter-over-quarter, sustaining its streak of double-digit sequential growth. Average client assets in Canada and Australia also logged five straight quarters of sequential increase. Margin financing and securities lending balance at quarter end remained largely stable at HK$50.3 billion, due to lower risk appetite in the second half of the quarter amid market pullback.”

    “Total trading volume was HK$3.22 trillion, up 140.1% year-over-year and 11.4% quarter-over-quarter. U.S. stock trading volume grew 8.2% sequentially to HK$2.25 trillion, bolstered by clients’ bottom fishing of technology and semiconductor names. Hong Kong stock trading volume increased 21.4% quarter-over-quarter to HK$916.0 billion, as DeepSeek-induced market rally reignited investor interest.”

    “We continued to drive product innovation, empowering retail investors with cutting-edge investment tools and seamless investment experience. In Hong Kong, we unveiled Futubull AI, our proprietarily trained, AI-powered investment assistance, and revealed a new desktop version with more intuitive tools and advanced features. In Japan, we continued to enhance our U.S. stock offerings as we rolled out U.S. fractional shares trading in the first quarter and subsequently launched U.S. options trading in April.”

    “Wealth management client assets were HK$139.2 billion as of quarter end, up 117.7% year-over-year and 25.6% quarter-over-quarter. 29% of funded accounts held wealth management products, a further climb from 28% in the previous quarter. Money market funds remained the primary driver of asset inflow given the seek for stable returns amid market volatility. In Hong Kong and Singapore, we broadened our structured product suite with FX-linked notes in the first quarter. We also onboarded equity funds in Malaysia and money market funds in Japan.”

    “We had 498 IPO distribution and IR clients as of quarter end, up 15.8% year-over-year. During the quarter, we served as joint lead manager for several high-profile Hong Kong IPOs, including those of Bloks Group and Guming Holdings. For both of these transactions, we were the exclusive online broker for IPO distribution. Notably, in the MIXUE Group IPO, more than 70 thousand clients contributed to over HK$1 trillion in subscription amount, putting us first among all brokers in number of subscribers and total subscription amount.”

    First Quarter 2025 Financial Results

    Revenues

    Total revenues were HK$4,694.6 million (US$603.4 million), an increase of 81.1% from HK$2,592.5 million in the first quarter of 2024.

    Brokerage commission and handling charge income was HK$2,310.2 million (US$296.9 million), an increase of 113.5% from the first quarter of 2024. This was mainly due to higher trading volume, partially offset by the decline in blended commission rate.

    Interest income was HK$2,070.5 million (US$266.1 million), an increase of 52.9% from the first quarter of 2024. The increase was mainly driven by higher interest income from securities borrowing and lending business, margin financing and bank deposits.

    Other income was HK$313.9 million (US$40.4 million), an increase of 101.0% from the first quarter of 2024. The increase was primarily attributable to higher fund distribution service income and currency exchange income.

    Costs

    Total costs were HK$749.0 million (US$96.3 million), an increase of 59.3% from HK$470.2 million in the first quarter of 2024.

    Brokerage commission and handling charge expenses were HK$143.5 million (US$18.4 million), an increase of 138.0% from the first quarter of 2024. This increase was roughly in line with the growth of our brokerage commission and handling charge income.

    Interest expenses were HK$469.3 million (US$60.3 million), an increase of 50.0% from the first quarter of 2024. The increase was primarily due to higher expenses associated with our securities borrowing and lending business and higher margin financing interest expenses.

    Processing and servicing costs were HK$136.1 million (US$17.5 million), an increase of 40.2% from the first quarter of 2024. The increase was primarily due to higher market information and data fee for enhanced market data coverage.

    Gross Profit

    Total gross profit was HK$3,945.7 million (US$507.2 million), an increase of 85.9% from HK$2,122.2 million in the first quarter of 2024. Gross margin was 84.0%, as compared to 81.9% in the first quarter of 2024.

    Operating Expenses

    Total operating expenses were HK$1,260.4 million (US$162.0 million), an increase of 35.6% from HK$929.5 million in the first quarter of 2024.

    Research and development expenses were HK$386.0 million (US$49.6 million), an increase of 15.1% from the first quarter of 2024. This increase was primarily driven by investment in AI capabilities and related technology initiatives.

    Selling and marketing expenses were HK$459.2 million (US$59.0 million), an increase of 56.9% from HK$292.7 million in the first quarter of 2024. This was mainly driven by strong growth of new funded accounts.

    General and administrative expenses were HK$415.2 million (US$53.4 million), an increase of 37.8% from the first quarter of 2024. The increase was primarily due to an increase in general and administrative personnel to support overseas market development.

    Income from Operations

    Income from operations increased by 125.1% to HK$2,685.3 million (US$345.2 million) from HK$1,192.7 million in the first quarter of 2024. Operating margin increased to 57.2% from 46.0% in the first quarter of 2024 mainly due to strong topline growth and operating leverage.

    Net Income

    Net income increased by 107.0% to HK$2,142.7 million (US$275.4 million) from HK$1,035.1 million in the first quarter of 2024. Net income margin for the first quarter of 2025 increased to 45.6% from 39.9% in the year-ago quarter.

    Non-GAAP adjusted net income increased by 97.7% to HK$2,216.9 million (US$285.0 million) from the first quarter of 2024. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. For further information, see “Use of Non-GAAP Financial Measures” at the bottom of this press release.

    Net Income per ADS

    Basic net income per American Depositary Share (“ADS”) was HK$15.44 (US$1.98), compared with HK$7.53 in the first quarter of 2024. Diluted net income per ADS was HK$15.28 (US$1.96), compared with HK$7.46 in the first quarter of 2024. Each ADS represents eight Class A ordinary shares.

    Conference Call and Webcast

    Futu’s management will hold an earnings conference call on Thursday, May 29, 2025, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).

    Please note that all participants will need to pre-register for the conference call, using the link

    https://register-conf.media-server.com/register/BIb0180ca92acc4f49b995ccdec654eeb4.

    It will automatically lead to the registration page of “Futu Holdings Ltd First Quarter 2025 Earnings Conference Call”, where details for RSVP are needed.

    Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

    Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.

    About Futu Holdings Limited

    Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

    Use of Non-GAAP Financial Measures

    In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company’s operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors’ assessment of its operating performance.

    Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company’s operations. Share-based compensation expenses have been and may continue to be incurred in the business and is not reflected in the presentation of non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

    The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance.

    For more information on this non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of Non-GAAP and GAAP Results” set forth at the end of this press release.

    Exchange Rate Information

    This announcement contains translations of certain HK dollars (“HK$”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.7799 to US$1.00, the noon buying rate in effect on March 31, 2025 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the HK$ or US$ amounts referred could be converted into US$ or HK$, as the case may be, at any particular rate or at all.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu’s goal and strategies; Futu’s expansion plans; Futu’s future business development, financial condition and results of operations; Futu’s expectations regarding demand for, and market acceptance of, its credit products; Futu’s expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor inquiries, please contact:

    Investor Relations
    Futu Holdings Limited
    ir@futuholdings.com

    ___________________________

    1 The number of funded accounts refers to the number of brokerage accounts with Futu that have a positive account balance. Multiple funded accounts by one client are counted as one funded account.
    2 Multiple brokerage accounts by one client are counted as one brokerage account.
    3 The number of users refers to the number of user accounts registered with Futu.
    4 Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses.

    FUTU HOLDINGS LIMITED

    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

    (In thousands, except for share and per share data)

      As of December 31,   As of March 31,
      2024   2025   2025
      HK$   HK$   US$
    ASSETS          
    Cash and cash equivalents 11,688,383   6,495,155   834,864
    Cash held on behalf of clients 68,639,816   88,246,095   11,342,832
    Restricted cash 1,121   7,857   1,010
    Term deposit 4,990   5,240   674
    Short-term investments 2,411,074   2,659,746   341,874
    Securities purchased under agreements to resell 316,301   468,788   60,256
    Loans and advances-current (net of allowance of HK$85,252 thousand and HK$133,380 thousand as of December 31, 2024 and March 31, 2025, respectively) 49,695,691   48,552,818   6,240,802
    Receivables:          
    Clients 534,077   717,361   92,207
    Brokers 17,224,387   17,913,085   2,302,483
    Clearing organizations 3,277,063   8,189,215   1,052,612
    Fund management companies and fund distributors 1,210,472   1,773,358   227,941
    Interest 597,483   624,324   80,248
    Amounts due from related parties 61,200    
    Prepaid assets 63,497   68,993   8,868
    Other current assets 160,330   753,181   96,811
    Total current assets 155,885,885   176,475,216   22,683,482
               
    Operating lease right-of-use assets 253,212   390,760   50,227
    Long-term investments 573,190   698,183   89,742
    Loans and advances-non-current 18,805   18,843   2,422
    Other non-current assets 2,025,841   3,055,412   392,730
    Total non-current assets 2,871,048   4,163,198   535,121
    Total assets 158,756,933   180,638,414   23,218,603
    LIABILITIES          
    Amounts due to related parties 79,090     154,011     19,796  
    Payables:          
    Clients 72,379,135     95,452,151     12,269,072  
    Brokers 43,697,746     38,246,431     4,916,057  
    Clearing organizations 503,396     357,842     45,996  
    Fund management companies and fund distributors 507,076     1,509,340     194,005  
    Interest 86,964     69,180     8,892  
    Borrowings 5,702,259     9,897,658     1,272,209  
    Securities sold under agreements to repurchase 2,574,659     929,084     119,421  
    Lease liabilities-current 144,357     132,750     17,063  
    Accrued expenses and other current liabilities 4,936,805     3,316,253     426,259  
    Total current liabilities 130,611,487     150,064,700     19,288,770  
               
    Lease liabilities-non-current 132,924     275,538     35,418  
    Other non-current liabilities 8,061     8,058     1,035  
    Total non-current liabilities 140,985     283,596     36,453  
    Total liabilities 130,752,472     150,348,296     19,325,223  
               
               
    SHAREHOLDERS’ EQUITY          
    Class A ordinary shares 72     72     9  
    Class B ordinary shares 27     27     3  
    Additional paid-in capital 18,807,369     18,885,107     2,427,423  
    Treasury stock (5,199,257 )   (5,199,257 )   (668,294 )
    Accumulated other comprehensive loss (249,916 )   (184,687 )   (23,739 )
    Retained earnings 14,652,946     16,798,269     2,159,188  
    Total shareholders’ equity 28,011,241     30,299,531     3,894,590  
               
               
    Non-controlling interest (6,780 )   (9,413 )   (1,210 )
    Total equity 28,004,461     30,290,118     3,893,380  
    Total liabilities and equity 158,756,933     180,638,414     23,218,603  
               
    FUTU HOLDINGS LIMITED

    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

    (In thousands, except for share and per share data)

      For the Three Months Ended
      March 31,
    2024
      March 31,
    2025
      March 31,
    2025
      HK$   HK$   US$
    Revenues          
    Brokerage commission and handling charge income 1,082,107     2,310,220     296,947  
    Interest income 1,354,166     2,070,469     266,131  
    Other income 156,186     313,948     40,354  
    Total revenues 2,592,459     4,694,637     603,432  
    Costs          
    Brokerage commission and handling charge expenses (60,301 )   (143,505 )   (18,446 )
    Interest expenses (312,842 )   (469,333 )   (60,326 )
    Processing and servicing costs (97,103 )   (136,115 )   (17,496 )
    Total costs (470,246 )   (748,953 )   (96,268 )
    Total gross profit 2,122,213     3,945,684     507,164  
               
    Operating expenses          
    Research and development expenses (335,487 )   (385,979 )   (49,612 )
    Selling and marketing expenses (292,664 )   (459,202 )   (59,024 )
    General and administrative expenses (301,335 )   (415,245 )   (53,374 )
    Total operating expenses (929,486 )   (1,260,426 )   (162,010 )
               
    Income from operations 1,192,727     2,685,258     345,154  
               
    Others, net 31,741     (20,598 )   (2,648 )
               
    Income before income tax expense and share of loss from equity method investments 1,224,468     2,664,660     342,506  
               
    Income tax expense (185,641 )   (490,959 )   (63,106 )
    Share of loss from equity method investments (3,694 )   (30,997 )   (3,984 )
               
    Net income 1,035,133     2,142,704     275,416  
               
    Attributable to:          
    Ordinary shareholders of the Company 1,038,138     2,145,323     275,753  
    Non-controlling interest (3,005 )   (2,619 )   (337 )
      1,035,133     2,142,704     275,416  
    Net income per share attributable to ordinary shareholders of the Company          
    Basic 0.94     1.93     0.25  
    Diluted 0.93     1.91     0.24  
               
    Net income per ADS          
    Basic 7.53     15.44     1.98  
    Diluted 7.46     15.28     1.96  
               
    Weighted average number of ordinary shares used in computing net income per share          
    Basic 1,102,929,775     1,113,426,758     1,113,426,758  
    Diluted 1,114,429,420     1,126,352,076     1,126,352,076  
               
    Net income 1,035,133     2,142,704     275,416  
    Other comprehensive (loss)/income, net of tax          
    Foreign currency translation adjustment (29,441 )   65,215     8,382  
    Total comprehensive income 1,005,692     2,207,919     283,798  
               
    Attributable to:          
    Ordinary shareholders of the Company 1,008,732     2,210,552     284,136  
    Non-controlling interests (3,040 )   (2,633 )   (338 )
      1,005,692     2,207,919     283,798  
    FUTU HOLDINGS LIMITED

    UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS

    (In thousands)

      For the Three Months Ended
      March 31,
    2024
      March 31,
    2025
      March 31,
    2025
      HK$   HK$   US$
               
    Net income 1,035,133   2,142,704   275,416
    Add: Share-based compensation expenses 85,938   74,199   9,537
    Adjusted net income 1,121,071   2,216,903   284,953
               

    Non-GAAP to GAAP reconciling items have no income tax effect.

    The MIL Network

  • MIL-OSI Global: Why we need testosterone products designed for women

    Source: The Conversation – UK – By David Haddleton, Professor in Polymer Chemistry , University of Warwick

    Many women need testosterone during menopause — but most can’t get it Andrey_Popov/Shutterstock

    Menopause is something nearly every woman will go through. As fertility ends, levels of oestrogen and progesterone drop significantly – changes that can deeply affect physical health, emotional wellbeing and everyday life.

    For many, the effects of this hormonal shift are more than frustrating – they can be life altering. Symptoms like brain fog, hot flushes, night sweats, headaches, insomnia, fatigue, joint pain, low libido, anxiety, depression and even bone loss from osteoporosis are all common.




    Read more:
    Horrific, bizarre, lonely: how women going through the menopause describe their experiences


    Hormone replacement therapy (HRT) has helped many women manage these symptoms – but one key hormone is often overlooked in both treatment and conversation: testosterone.

    Testosterone is typically viewed as a “male hormone,” but it plays a crucial role in women’s health too. In fact, women have higher levels of testosterone than either oestrogen or progesterone for most of their adult lives. And like the other sex hormones, testosterone also declines with age – with consequences that are only now being fully explored.

    The testosterone gap

    Hormone replacement therapy (HRT) is now widely used to replace oestrogen and progesterone during and after menopause. These treatments – available as tablets, patches, gels and implants – are regulated, evidence-based and increasingly accessible through the NHS.

    But when it comes to testosterone, the situation is entirely different.

    Currently, there are no testosterone products licensed for use by women in the UK or Europe. The only exception is in Australia, where a testosterone cream specifically designed for women is available. Europe once had its own option – a transdermal patch called Intrinsa, designed and approved by regulators based on clinical evidence to treat low libido in women with surgically induced menopause. But the manufacturer withdrew product in 2012, citing “commercial considerations” in their letter to the European Medicines Agency, the agency in charge of the evaluation and supervision of pharmaceutical products in Europe.

    Since then, women across Europe have been left without an approved option.

    In the absence of licensed treatments, some clinicians – mainly in private practice – are prescribing testosterone “off label”, often using products developed for men. These are typically gels or creams with dosages several times higher than most women need. While doctors may advise on how to adjust the dose, this kind of improvisation comes with risks: inaccurate dosing, inconsistent absorption and a lack of long-term safety data.

    Some women report significant improvements – not just in libido, but also in brain fog, mood, joint pain and energy levels. However, the only proven clinical benefit of testosterone in women is in improving sexual desire for those with hypoactive sexual desire disorder (HSDD) following surgical menopause.

    Even so, interest is growing – fuelled by patient demand, celebrity use, social media buzz and a growing sense that testosterone may be a missing piece in midlife women’s care.

    While there is increasing consensus that testosterone can play a role in supporting women’s health, the current situation presents two serious problems:

    Safety and regulation: without licensed products, standardised dosing guidelines, or long-term safety data, off-label use puts both patients and clinicians in uncertain territory.

    Access and inequality: testosterone therapy is rarely available through the NHS and is often only accessible through private clinics, creating a two-tier system. Those who can pay hundreds of pounds for consultations and prescriptions can access care, while others are left behind.

    Innovation

    There are signs of change. For example, I founded Medherant, a University of Warwick spin-out company that is currently developing a testosterone patch designed specifically for women. It’s in clinical trials and, if approved, could become the first licensed testosterone product for women in the UK in over a decade. It’s a much-needed step – and one that could pave the way for further innovation and broader access.

    But the urgency remains. Millions of women are currently going without effective, evidence-based care. In the meantime, off-label prescribing should used with care and use based on the best available science – not hype or anecdote – and delivered through transparent, regulated healthcare channels.

    Women deserve more than workarounds. They deserve treatments that are developed for their bodies, rigorously tested, approved by regulators and accessible to all – not just the few who can afford private care.

    When half the population is affected, this isn’t a niche issue. It’s a priority.

    David Haddleton works for and owns shares in Medherant Ltd

    ref. Why we need testosterone products designed for women – https://theconversation.com/why-we-need-testosterone-products-designed-for-women-256927

    MIL OSI – Global Reports

  • Sikkim will shine in sports, tourism, and startups: PM Modi

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi today addressed the golden jubilee celebrations of Sikkim’s statehood via videoconferencing, marking 50 years since the northeastern state became part of the Indian Union. Themed ‘Sikkim@50: Where Progress Meets Purpose, and Nature Nurtures Growth’, the event celebrated the state’s remarkable journey of development, sustainability, and cultural preservation.

    Prime Minister Modi underscored the importance of positioning Sikkim as a global tourism destination. “The time has come for Sikkim to evolve beyond being just a hill station,” he said. “Sikkim’s potential is unmatched, offering a complete tourism package.” He pointed to the state’s natural beauty, spiritual significance, and cultural treasures such as its lakes, waterfalls, monasteries, and the Kanchenjunga National Park, a UNESCO World Heritage Site.

    The Prime Minister said that new infrastructure like the Golden Jubilee Project and the statue of Bharat Ratna Atal Bihari Vajpayee ji at Atal Amrit Udyan symbolized the new heights of progress Sikkim is achieving. “Sikkim has immense potential for adventure and sports tourism,” he remarked, stressing the growth of activities such as trekking, mountain biking, and high-altitude training.

    He expressed a clear vision of establishing Sikkim as a destination for conference tourism, wellness tourism, and concert tourism. “The Golden Jubilee Convention Center is an important step towards this future. I wish that global artists perform in Gangtok and experience the harmony of nature and culture that Sikkim represents,” said the Prime Minister.

    Referring to the recent Northeast Investment Summit held in Delhi, PM Modi said major investors are now showing strong interest in the region, including Sikkim, which will lead to employment generation and economic growth in the coming years. He said that bringing G-20 Summit meetings to the Northeast was a strategic step to showcase the region’s potential on the world stage and appreciated the Sikkim government’s proactive efforts in this regard.

    Highlighting India’s rise as a global economic force and a growing sporting power, the Prime Minister said that the youth of the Northeast, particularly Sikkim, will play a central role in realizing the country’s aspirations. He acknowledged the contribution of sports personalities such as Bhaichung Bhutia, Olympian Tarundeep Rai, and athlete Jaslal Pradhan. “Sports should not just be about participation but about winning with determination,” said the Prime Minister, adding that the new sports complex in Gangtok will serve as a training ground for future champions.

    He mentioned the Khelo India scheme, under which Sikkim is receiving focused support in talent identification, training, and organizing tournaments. “The energy and passion of Sikkim’s youth will propel India to Olympic glory,” he stated.

    Speaking on national unity and resilience, Prime Minister Modi condemned the recent attack in Pahalgam, calling it an attack on humanity. “The terrorists not only stole the happiness of many families but also attempted to divide the people of India,” he said. Referring to India’s firm response through ‘Operation Sindoor’, he asserted that the country gave a befitting reply by dismantling several Pakistani airbases, demonstrating its strategic capabilities.

    Reflecting on the future, PM Modi emphasized that Sikkim’s 50-year journey should inspire ambitious planning for its 75th year in 2047, coinciding with the centenary of India’s independence. “We must set clear goals for what Sikkim should look like by 2047. This includes boosting the state’s economy and shaping it into a ‘wellness state’,” he said.

    He urged the people to equip Sikkim’s youth with global skills, calling for a push in new areas of skill development, digital innovation, and global employment readiness. “Sikkim’s young generation must be prepared not just for local needs but also for global demands,” the Prime Minister stated.

    Calling for a collective commitment to Sikkim’s continued growth, PM Modi said, “Our dream is that Sikkim should become a Green Model State not only for India but for the entire world.” He outlined a vision of secure housing for all, solar-powered electricity for every household, and a strong identity in agro-startups, organic food exports, and tourism-based entrepreneurship. “The next 25 years are dedicated to achieving these ambitious goals and establishing Sikkim’s presence on the global stage,” he concluded.

    The event also saw the unveiling of a commemorative coin, souvenir coin, and postage stamp to mark 50 years of Sikkim’s statehood. The Prime Minister laid the foundation stone and inaugurated several developmental projects, including a 500-bedded District Hospital in Namchi worth over ₹750 crore, a passenger ropeway at Sangachoeling in Gyalshing district, and the statue of Atal Bihari Vajpayee in Gangtok.

  • MIL-OSI United Kingdom: Government steps in to build first major reservoirs in 30 years

    Source: United Kingdom – Government Statements

    Press release

    Government steps in to build first major reservoirs in 30 years

    New reservoirs will supply three quarters of a million homes and unlock the building of tens of thousands more as part of the Plan for Change

    Aerial shot of a circular slipway, Ardingly reservoir, West Sussex

    In a significant intervention to speed up delivery of much-needed reservoirs, the Environment Secretary Steve Reed has seized control of the planning process to build two major reservoirs for the first time since the 1990s. 

    This immediate step delivers on this government’s commitment to fast-track the delivery of nine new reservoirs, supporting its plans to get Britain building and deliver 1.5 million new homes by the end of this parliament.

    Without these projects, national water supplies will remain under threat and new homes simply cannot be built.

    With the government taking decisive control, two new reservoir projects in East Anglia and Lincolnshire have been awarded status of ‘nationally significant’. This means the project is so crucial that the planning process is escalated from a local level to the Secretary of State.

    This milestone will streamline and accelerate the planning process, to shore up water resources for over three quarters of a million homes in England’s most water-stressed areas.  

    Rapid population growth, crumbling infrastructure that has been left to decline, and a warming climate mean the UK could run out of clean drinking water by the middle of the next decade without a major infrastructure overhaul. 

    To sustain our water supply into the future, the government will also legislate to radically streamline the planning process – meaning the ‘nationally significant’ designation is automatic for projects like these which are fundamental to our national water resilience.  

    This comes as part of the Plan for Change, which will bring forward building 150 major infrastructure projects this Parliament, creating new jobs and driving economic growth. 

    Water Minister Emma Hardy said:  

    Today we are backing the builders not the blockers, intervening in the national interest and slashing red tape to make the planning process faster to unblock nine new reservoirs.  

    This Government will secure our water supply for future generations and unlock the building of thousands of homes as part of the Plan for Change.

    David Black, Chief Executive of Ofwat said:

    We welcome the clear focus the Government is placing upon accelerating the delivery of supply and resilience schemes that will meet our future water needs and support economic growth. Alongside the £2 billion of development funding announced at our 2024 Price Review, this will help us to deliver the largest programme of major water infrastructure projects – including nine new reservoirs – seen in decades.

    Meanwhile, the risk of drought this summer is increasing, with the Environment Agency urging water companies to do more to safeguard water supplies after the driest start to spring in 69 years.   

    Reservoirs, which collect and store water, are essential to keep water supply reliable and consistent even during dry weather – but no new reservoirs have been delivered since 1992, over 30 years ago. 

    Thousands of much needed homes in Cambridge and North Sussex are currently being blocked due to concerns around water scarcity.

    Anglian Water are proposing to build the Lincolnshire Reservoir to the south of Sleaford, aiming to be operational by 2040. They have also partnered with Cambridge Water to propose the Fens Reservoir, located between the towns of Chatteris and March, set to be completed in 2036. 

    The Lincolnshire Reservoir would provide up to 166 million litres of water per day for up to 500,000 homes – that is the equivalent of more than 664 million cups of tea day. The Fens would supply a much needed 87 million litres to 250,000 homes in the driest region of the UK. 

    Both projects will now progress to consultation phase, where developers gather views from communities and stakeholders. 

    Water companies have committed to bring 9 new reservoirs online by 2050, in Lincolnshire, Cambridgeshire, Oxfordshire, Somerset, Suffolk, Kent, East Sussex and the West Midlands and Somerset. These reservoirs alone have the potential to provide 670 million litres of extra water per day. 

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: Legendary Samotlor celebrates 60th anniversary

    Translation. Region: Russian Federal

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

    Rosneft is celebrating the 60th anniversary of the discovery of the Samotlor field, one of the largest in the world. Its history began on May 29, 1965, when the exploration well R-1 produced its first oil at a flow rate of 300 cubic meters per day. Four years later, the field was put into commercial operation, and in 1981, the billionth ton of oil was produced at Samotlor. Thanks to Samotlor oil, our country has taken one of the leading positions in the world oil market.

    A new stage in the development of Samotlor began after the inclusion of Samotlorneftegaz in Rosneft. The company began to implement a set of advanced solutions and new technologies to stabilize hydrocarbon production at the field. Today, Samotlor’s cumulative production exceeds 2.8 billion tons of oil and more than 410 billion cubic meters of gas. Samotlorneftegaz, which develops it, consistently ensures a level of associated petroleum gas utilization of 98%, which is one of the highest rates in the industry.

    Samotlorneftegaz implements large-scale projects in the main areas of its activity in close cooperation with Rosneft, the largest oil and gas scientific and technical unit in Eurasia.

    Samotlorneftegaz has become one of the pioneers of the Russian oil and gas production industry in the field of digitalization of production. The “Intelligent Field” system, which involves remote production management, was implemented at the enterprise in 2013. As part of the development of the “Intelligent Field”, an integrated mathematical model was introduced that covers all key stages of oil production at the enterprise. On its basis, a neural network was created to optimize the operation of production wells. The accuracy of forecasts reached 96%. The implementation of another digital project – “3D Sphere” opens up new technological opportunities that contribute to increasing the efficiency and safety of oil and gas production.

    Samotlorneftegaz specialists use corporate software to manage the operation of mobile compressor units. As a result of using the new software module, it was possible to increase the average daily oil production per well by eight tons. The economic effect since the introduction of the technology has exceeded 1.9 billion rubles.

    At Samotlor, continuous work is underway to improve drilling equipment and technological processes. The use of a domestically produced rotary-controlled system has reduced the construction time of each well by 40 hours. This system allows drilling complex profiles with a large departure from the vertical and increasing the length of the horizontal section of the well. At the same time, high accuracy of drilling through the productive formation is achieved, which has a positive effect on the flow rate of new wells.

    High efficiency in drilling horizontal wells is demonstrated by the use of a modernized bicentric bit of unique design. The drill of the new design forms a trunk of a larger diameter. This makes it possible to drill wells with a complex profile at a high rate and put them into operation faster.

    The Samotlor field has undergone 40-stage hydraulic fracturing for the first time. The operation took a record-breaking 24.5 hours. The well’s starting flow rate was 250 cubic meters per day, which is more than six times higher than the average rates of neighboring wells. The unique operation was carried out jointly with the corporate service company RN-GRP, which carries out all hydraulic fracturing work at the Samotlor field.

    Samotlorneftegaz is actively implementing large-scale environmental projects. In 2024, the company allocated more than 11.2 billion rubles for environmental protection and environmental restoration activities. Large-scale work has been completed at Samotlor to restore the “historical heritage” lands disturbed during the Soviet years of field development. The biological productivity of soils has been restored on sites with a total area of more than 2.2 thousand hectares. During the program’s implementation, new technologies were developed and unique experience was gained that is in demand by other enterprises.

    Samotlorneftegaz is one of the largest taxpayers and key social partners of the Khanty-Mansiysk Autonomous Okrug of Yugra. In addition, over the past 5 years, more than 200 social projects have been implemented within the framework of the Cooperation Agreement between Rosneft Oil Company and the regional government, which has significantly improved the quality of life of the population of all of Yugra.

    With the participation of Samotlorneftegaz, a universal sports complex was built in Khanty-Mansiysk, the Simulation and Accreditation Center of the Khanty-Mansiysk State Medical Academy was modernized, and two training laboratories were equipped at the Multidisciplinary College of the Yugra State University. Thanks to the support of the enterprise, a large-scale reconstruction of the city’s “calling card” – the Ob River embankment, the Heroes of Samotlor Square was carried out in Nizhnevartovsk. A kindergarten, teenage clubs, a rollerdrome for active sports and an open-air rope park were built for the younger generation. In the Nizhnevartovsk District, with the support of the enterprise, kindergartens were reconstructed, the Okunevka River embankment was reconstructed, and the quality and safety of roads were significantly improved due to large-scale repairs.

    Rosneft pays great attention to preserving and strengthening the historical memory of the Samotlor field and the pioneering oil workers of the Khanty-Mansiysk Autonomous Okrug-Yugra. With the Company’s support, a large-scale renovation of the memorial “First exploratory well R-1 of the Samotlor field” was carried out, the monument “To the Conquerors of Samotlor” was reconstructed, the Heroes of Samotlor square was created, and a corporate museum was opened.

    Rosneft ensures the further development of the Samotlor field and involvement in the development of its resource potential, which contributes to the economy of the region and the entire country.

    Department of Information and Advertising of PJSC NK Rosneft May 29, 2025

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

    MIL OSI Russia News

  • MIL-OSI Russia: Opening Ceremony of Chinese-Russian Animation Day Held in Hangzhou

    Translation. Region: Russian Federal

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

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

    HANGZHOU, May 29 (Xinhua) — The opening ceremony of China-Russia Animation Day was held Wednesday in Hangzhou, capital of east China’s Zhejiang Province, as the International Animation and Game Business Conference of the 21st China International Animation Festival (CIAG) took place. Industry leaders and enterprise representatives from the two countries gathered to inject new impetus into China-Russia animation cooperation.

    During the event, representatives from both sides made speeches, discussing the history of the development of the animation industries, as well as the path and prospects for cooperation in the new era, Hangzhou news portal /”Hangzhou.com.cn”/ reported.

    The parties unanimously recognized the need for comprehensive integration of resources and complementary cooperation to jointly create high-quality animation content influenced by digital technology and global cultural exchange.

    In parallel, a special presentation by the Moscow delegation was held, where outstanding Russian animation and short films were shown. The unique artistic style and creative concepts demonstrated the dynamics and charm of the Russian animation industry, offering viewers a visual feast.

    This event not only presented outstanding works to the audience, but also created an important platform for industrial cooperation between China and Russia. Taking this new frontier as a starting point, the two sides will deepen exchanges and interactions, actively explore joint projects and conduct technological exchanges, and create animation works with cultural depth and market influence.

    Both parties intend to pursue mutually beneficial cooperation, jointly writing a new chapter in the history of the development of the global animation industry. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: US Trade Court Bans Trump from Imposing Import Tariffs

    Translation. Region: Russian Federal

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

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

    NEW YORK, May 29 (Xinhua) — The New York-based U.S. Court of International Trade on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency powers law.

    The ruling comes after a series of lawsuits alleging that Trump overstepped his authority by imposing sweeping tariffs on imports.

    A three-judge panel ruled that executive orders imposing fentanyl-related tariffs on goods from Canada, Mexico and China, as well as tariffs on countries around the world, announced April 2, “will be rescinded and permanently terminated.”

    The International Emergency Economic Powers Act (IEEPA) does not authorize any of the orders, the court said.

    “The worldwide retaliatory tariff orders exceed any authority that IEEPA gives the President to regulate imports through tariffs. Tariffs imposed in response to smuggling do not work because they do not address the threats outlined in these orders,” the report concluded.

    The judges ruled on two lawsuits against the U.S. federal government filed by five companies on April 14 and by 12 states on April 23.

    “Unelected judges should not decide the appropriate response to a national emergency. President Trump has promised to put America first, and the administration intends to use every lever of the executive branch to address this crisis and restore America to greatness,” White House spokesman Kush Desai said in a statement. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: Italy: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    May 29, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Washington, DC: An International Monetary Fund (IMF) mission, led by Lone Christiansen and comprising Thomas Elkjaer, Gee Hee Hong, Yueling Huang, Alain Kabundi, and Sylwia Nowak, conducted discussions for the 2025 Article IV Consultation with Italy during May 14–28. At the end of the visit, the mission issued the following statement:

    • Outlook: The growth outlook remains highly uncertain amid ongoing global trade tensions. Persistently low productivity growth and demographic headwinds weigh on longer-term economic prospects.
    • Fiscal policy: A better-than-expected fiscal outturn in 2024 enabled a return to a primary surplus. Continuing the strong performance will be essential to place public debt on a downward trajectory.
    • Financial sector policy: The banking sector remains well-capitalized and liquid. Continuing to monitor asset quality and macro-financial linkages between the sovereign and financial institutions remains important to safeguard financial stability.
    • Structural policies: Medium-term challenges that are weighing on growth have become today’s pressing issues. A swift and effective implementation of the National Recovery and Resilience Plan will be key to support higher, lasting growth and should be complemented by a successor reform program to amplify the gains.

     

    Recent economic developments, outlook, and risks

    The Italian economy has continued to expand at a moderate pace. For the second consecutive year, economic activity grew by 0.7 percent in 2024, supported in part by infrastructure investment under the National Recovery and Resilience Plan (NRRP) and a positive contribution from net exports. The current account strengthened to a surplus of above 1 percent of GDP. Despite heightened global trade policy uncertainty, economic activity held up well in the first quarter of 2025, with real GDP growing by 0.3 percent quarter-on-quarter and employment reaching a record high. Credit to households has turned positive, and the contraction in credit to corporates has eased. Headline inflation gradually strengthened, reaching 2 percent in April. Nonetheless, the female labor force participation rate remains well below the EU average, productivity growth is weak, and regional disparities endure, with labor inactivity rates significantly higher in the South than in the North.

    Heightened uncertainty has dampened the near-term economic outlook, while subdued productivity growth and rapid population aging are expected to continue weighing on growth prospects. Timely and effective implementation of NRRP projects is expected to support near-term economic activity, while trade tensions are likely to provide a notable drag. Consequently, the April 2025 World Economic Outlook (WEO) projected growth to moderate to 0.4 percent in 2025 before temporarily picking up to 0.8 percent next year, amid the peak in NRRP-related investments and positive trade spillovers from higher investment in Germany. Headline inflation is expected to average 1.7 percent this year, on lower energy prices and moderate wage growth, before converging to the ECB’s 2 percent target in 2026. Over the medium term, weak productivity growth and adverse demographics are projected to continue weighing on the outlook, keeping growth at around 0.7 percent.

    The outlook is subject to substantial uncertainty and risks. On the upside, the stronger-than-expected preliminary outturn for the first quarter presents mild upside risks to the April 2025 WEO forecast. A faster-than-expected acceleration in global growth, stronger productivity gains from public investments and reforms, and deeper EU integration could further support investment, exports, and productivity. However, downside risks remain significant, including from escalating trade tensions, an intensification of regional conflicts, and a further tightening of global financial conditions. Climate-related shocks, including extreme weather events, could also dampen growth and further constrain fiscal space. As digitalization advances, cyberthreats could become more pervasive and disruptive, particularly for the financial system. Delayed or inefficient NRRP implementation could undermine growth.

    Fiscal policy: Leaning into continued strong performance

    Maintaining strong fiscal discipline along with growth-enhancing reforms is critical to reduce the public debt ratio and will help reinforce resilience. A better-than-expected fiscal outturn in 2024, owing to continued improvements in tax compliance and a strong labor market, is welcome. Overall, the headline deficit was halved, the primary balance turned to a surplus, and the authorities envision further gradual deficit reduction. Staff recommends continuing the strong performance and reaching a primary surplus of 3 percent of GDP by 2027 to decisively reduce the debt ratio and help contain related vulnerabilities. Achieving this goal would require additional near-term efforts compared to what is already built into the authorities’ fiscal plans. However, the recommended cumulative adjustment path would entail a smaller effort over the medium term than a more gradual one in view of the projected worsening in the interest rate-growth differential and of spending pressures stemming from population aging. Along with such efforts, growth-enhancing reforms would help strengthen debt reduction and, over time, could reduce the needed adjustment.

    Several measures could be considered. Building on the progress made, reform efforts on tax evasion and tax compliance should continue. Rationalizing tax expenditures would help broaden the taxbase, bolster revenue, and reduce complexity. Eliminating the preferential flat-rate for income on self-employment would address equity concerns and prevent revenue loss. Given the robust labor market and high corporate profits, hiring subsidies should be replaced with productivity-boosting measures. Updating property values in the cadastre would increase revenue and could ensure more equitable tax treatment. These measures, by addressing distortions, are expected to have limited adverse effect on economic activity.

    In the event of new spending pressures or macroeconomic shocks, debt-reducing efforts should continue. Given the limited fiscal space, any new spending measures, including for defense, should be fully compensated by further savings elsewhere. Fiscal consolidation efforts combined with growth-enhancing reforms would need to continue even in the event of all-but-the-most-severe adverse macroeconomic shocks, rendering automatic stabilizers the primary counter-cyclical response. Resources from EU funds should be safeguarded for productivity-enhancing investments.

    Beyond the near term, it will be important to contain latent spending pressures. Pension-related spending pressures could be contained by avoiding costly early retirement schemes. At the same time, raising the effective retirement age would help boost labor supply. There is also scope to enhance transparency and monitoring of the net expenditure path within the Medium-Term Fiscal-Structural Plan (MTFSP), while maintaining comprehensive reporting of key fiscal indicators. Although the stock of public guarantees is gradually declining, it remains sizable, calling for continued prudent management, centralized monitoring, and adequate provisioning. In addition, publicly guaranteed loans should not substitute for on-budget spending, as such measures undermine budgetary discipline and distort resource allocation.

    Financial sector policy: Protecting financial sector resilience

    Continued vigilance will be important to safeguard financial sector soundness. Strong profitability, sound asset quality, and adequate liquidity and capital positions have helped strengthen the banking sector. In this respect, amid a still-negative credit gap, maintaining the current neutral countercyclical capital buffer remains appropriate, as does the continued implementation of the systemic risk buffer at 1 percent. In addition, maintaining close monitoring of loan quality is warranted, particularly given the uncertain outlook and risks to firms exposed to the potential impact of trade tensions. Regarding non-bank financial institutions, the rebound in life insurance premium income has helped mitigate risks in the life sector. While financial sector exposures to the domestic sovereign have declined from previous highs, they remain sizable and, hence, pose a vulnerability that requires continued monitoring.

    Continuing to address weaknesses among some less significant institutions (LSIs) remains a priority. Within the overall soundness of the banking sector, vulnerabilities exist among some LSIs. Further enhancing oversight—through targeted inspections, in-depth reviews of credit risk management practices and governance, and continued monitoring of nonperforming loans—would help address these risks. In this regard, the ongoing inspection program by the Bank of Italy to ensure compliance with IT security standards is welcome, and LSIs should continue to integrate cyber risks into their governance and risk management frameworks. Timely escalation of corrective measures for weak banks would support further improvements in capital adequacy and operational efficiency.

    Structural policies: Implementing reforms to boost growth

    To tackle persistent productivity challenges and unlock stronger potential growth, comprehensive and sustained reforms are crucial. The authorities’ ongoing efforts to advance their reform and investment agenda through the NRRP are welcome, as are their longer-term commitments under the MTFSP. With the NRRP window rapidly closing, continued efforts to ensure its full and timely delivery will be essential. Looking ahead, leveraging the design and implementation lessons from the NRRP will support successful execution of future reforms and help secure a durable lift to growth. More broadly, reforms should be clearly specified and prioritize strengthening human capital, expanding labor supply, and revitalizing the private sector’s capacity to innovate and adopt frontier technologies. Enhancing the workforce is vital to mitigate the impact of a shrinking working-age population and to meet the growing demand for high-skilled labor. Policies aimed at increasing female labor force participation—such as enhancing access to childcare and removing disincentives like tax credits for dependent spouses—should be further strengthened and would support both economic growth and pension system sustainability.

    Reviving private sector dynamism and innovation requires improved access to finance, especially risk capital, and greater policy predictability. Italian firms have long struggled to scale up and innovate. Eliminating tax incentives that favor small firms and facilitating the exit of unproductive firms, including through the timely implementation of the new insolvency code, would promote more efficient resource allocation and enable high-performing firms to grow. Deepening national capital markets—particularly by broadening access to risk capital—and ensuring a more predictable regulatory environment are crucial to support the investment needed for technological upgrades and the digital transition. At the European level, advancing the single market and making progress towards the savings and investment union will further help firms achieve economies of scale and improve access to capital. Industrial policies should be deployed cautiously, be targeted to specific objectives where externalities or market failures prevent effective market solutions, be coordinated at the EU level, and avoid favoring domestic producers over imports to minimize trade and investment distortions. 

    Accelerating the transition to renewables, adapting to a changing climate, and investing in resilient energy infrastructure are essential to reduce extreme weather impacts and energy import dependence. Climate-related risks and energy security are macro-critical for Italy, given the reliance on agriculture, tourism, and foreign energy supply. The 2024 National Energy and Climate Plan provides a strategic foundation but more ambitious action is needed to meet 2030 climate targets and improve energy security. Strengthening grid infrastructure, expanding storage capacity, and streamlining permitting processes are critical to support renewable integration. Deeper integration into EU electricity markets would enhance resilience, reduce price volatility, and improve the efficiency of renewable energy use.

    ****

    We are grateful to the Italian authorities and our other counterparts for their time, frank and open discussions, and warm hospitality.

    Desideriamo esprimere la nostra gratitudine alle autorità italiane e a tutti gli altri interlocutori per il tempo dedicatoci, per la franchezza e la disponibilità dimostrate nel corso dei colloqui e per la calorosa ospitalità.

     

     

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Camila Perez

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/28/05282025-mcs-italy-staff-concluding-statement-of-the-2025-article-iv-mission

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI USA: USDA Heeds Pappas’s Call to Unfreeze Acer Grants, Critical Funding for NH Maple Industry

    Source: United States House of Representatives – Congressman Chris Pappas (D-NH)

    Following Congressman Chris Pappas’s (NH-01), Co-Chair of the Congressional Maple Caucus, call for the United States Department of Agriculture (USDA) to reinstate grants delivered by the Acer Access and Development Program (Acer), funding for the Acer program has been released.

    “Acer provides important resources for strengthening the domestic maple syrup industry. I’m pleased that the Acer grants have been unfrozen, but our producers worked tirelessly this season. They should not have been left uncertain about whether they would receive funds that they were promised,” said Congressman Pappas. “We can’t ignore this recurring theme from the current administration in freezing or revoking funds for our communities that will have lasting negative impacts. We can work responsibly to reduce government waste and fraud without holding back the resources New Hampshire small businesses need.”

    Acer provides essential support to the maple syrup industry in the Northeast and Upper Midwest, and freezing these grants as the administration places tariffs on Canada, one of the U.S.’s closest allies, put the livelihoods of maple producers at risk. Much of the equipment used to produce syrup and other maple products is manufactured in Canada, and tariffs will raise prices in an unsustainable manner for New Hampshire’s maple producers

    Background: 

    Congressman Pappas leads the Fighting Budget Waste Act, which was the first bill he introduced in the 119th Congress. This bipartisan bill will save taxpayer dollars by requiring the Office of Management and Budget (OMB) to consider the Government Accountability Office’s (GAO) annual report on federal programs with fragmented, overlapping, or duplicative goals from the prior year to address problems with those programs and reduce costs.

    Congressman Pappas is a small business owner and a former member of the House Small Business Committee.

    MIL OSI USA News

  • MIL-OSI: Aurora Mobile Limited Announces First Quarter 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, May 29, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Revenues were RMB89.0 million (US$12.3 million), an increase of 38% year-over-year.
    • Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% year-over-year.
    • Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% year-over-year.
    • Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% year-over-year.
    • Net loss was RMB1.6 million (US$0.2 million), compared with a net loss of RMB2.6 million for the same quarter last year.
    • Net loss attributable to Aurora Mobile Limited’s shareholders was RMB2.6 million (US$0.4 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB2.4 million for the same quarter last year.
    • Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with a RMB1.3 million adjusted net loss for the same quarter last year.
    • Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand), compared with RMB0.2 million for the same quarter last year.

    Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “We have had a great start to 2025. Our Q1’2025 performance and numbers are very impressive.

    • Firstly, our EngageLab business had a “Monster Quarter” where we closed out more than RMB63 million worth of contract value in just one quarter. This brings the total cumulative EngageLab contract value in excess of RMB110 million by March 31, 2025.
    • Secondly, the Group’s revenue this quarter reached RMB89.0 million, achieving a remarkable 38% growth year-over-year. EngageLab’s recognized revenue also grew by 127% year-over-year.
    • Thirdly, our Financial Risk Management business had its best quarter in history, recording the highest quarterly revenue of RMB22.2 million, revenue grew by 64% year-over-year.
    • Fourthly, gross profit grew strongly by 27% year-over-year, achieving the highest gross profit for the past 9 quarters. Gross margin has also improved 520 basis points quarter-over-quarter!
    • Fifthly, we recorded another Adjusted EBITDA profit in this quarter. This marks the 7th consecutive quarterly positive Adjusted EBITDA we have had.

    With these numbers above, we are equally excited about 2025. This has no doubt set a great momentum for the rest of the 2025 ! The progress in our performance and our solid financial position enable us to invest more resources into the development of our enterprise AI agent platform and its global expansion.”

    Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “In Q1’2025, our revenue grew by 38% year-over-year, gross profit grew by 27% whilst operating expenses grew by 14%. Overall, we are pleased to see how the operating expenses have been trending in view of the revenue and gross profit growth. This is a sustainable growth model on a long-term basis.”

    First Quarter 2025 Financial Results

    Revenues were RMB89.0 million (US$12.3 million), an increase of 38% from RMB64.5 million in the same quarter of last year, attributable to a 39% increase in revenue from Developer Services and a 35% increase in revenue from Vertical Applications. In particular, the revenues from Value-Added Services within Developer Services increased by 269% compared to the same quarter of last year.

    Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% from RMB18.2 million in the same quarter of last year. The increase was mainly due to a RMB5.6 million increase in media cost, a RMB1.6 million increase in short messaging cost, and a RMB4.7 million increase in other direct costs related to revenue generation.

    Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% from RMB46.4 million in the same quarter of last year.

    Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% from RMB53.0 million in the same quarter of last year.

    • Research and development expenses were RMB24.6 million (US$3.4 million), an increase of 8% from RMB22.7 million in the same quarter of last year, mainly due to a RMB0.9 million increase in personnel costs and a RMB0.8 million increase in cloud cost.
    • Sales and marketing expenses were RMB23.3 million (US$3.2 million), an increase of 34% from RMB17.4 million in the same quarter of last year, mainly due to a RMB5.2 million increase in personnel costs.
    • General and administrative expenses were RMB12.7 million (US$1.7 million), a decrease of 2% from RMB12.9 million in the same quarter of last year, mainly due to a RMB0.6 million decrease in share-based compensation expenses.

    Loss from operations was RMB1.5 million (US$0.2 million), compared with RMB5.1 million in the same quarter of last year.

    Net Loss was RMB1.6 million (US$0.2 million), compared with RMB2.6 million in the same quarter of last year.

    Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with RMB1.3 million in the same quarter of last year.

    Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand) compared with RMB0.2 million for the same quarter of last year.

    The cash and cash equivalents and restricted cash were RMB113.6 million (US$15.7 million) as of March 31, 2025 compared with RMB119.5 million as of December 31, 2024.

    Business Outlook

    For the second quarter of 2025, the Company expects the total revenue to be between RMB87.5 million and RMB90.5 million, representing year-over-year growth of approximately 10% to 14%.

    The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

    Update on Share Repurchase

    As of March 31, 2025, the Company had repurchased a total of 295,179 ADS, of which 16,322 ADSs, or around US$170.5 thousand were repurchased during the first quarter in 2025.

    Conference Call

    The Company will host an earnings conference call on Thursday, May 29, 2025 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day).

    All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.

    Participant Online Registration:
    https://register-conf.media-server.com/register/BI47c63565ef284b3784a50da74dc4a38e

    A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/

    Use of Non-GAAP Financial Measures

    In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net (loss)/income and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net (loss)/income as net loss excluding share-based compensation. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax expenses/(benefits) and share-based compensation.

    The Company believes that adjusted net (loss)/income and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.

    The Company believes that adjusted net (loss)/income and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

    The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net (loss)/income and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

    The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

    Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    For investor and media inquiries, please contact:

    Aurora Mobile Limited

    ir@jiguang.cn

    Christensen

    In China

    Ms. Xiaoyan Su

    Phone: +86-10-5900-1548

    E-mail: Xiaoyan.Su@christensencomms.com 

    In U.S.

    Ms. Linda Bergkamp

    Phone: +1-480-614-3004

    Email: linda.bergkamp@christensencomms.com 

    Footnote:

    This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025.

     
    AURORA MOBILE LIMITED
    UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
                     
    Revenues   64,524     93,153     88,961     12,259  
    Cost of revenues   (18,152 )   (36,468 )   (30,117 )   (4,150 )
    Gross profit   46,372     56,685     58,844     8,109  
    Operating expenses                
    Research and development   (22,681 )   (24,326 )   (24,607 )   (3,391 )
    Sales and marketing   (17,391 )   (24,583 )   (23,303 )   (3,211 )
    General and administrative   (12,932 )   (11,392 )   (12,676 )   (1,747 )
    Total operating expenses   (53,004 )   (60,301 )   (60,586 )   (8,349 )
    Other operating income   1,579     3,393     197     27  
    Loss from operations   (5,053 )   (223 )   (1,545 )   (213 )
    Foreign exchange (loss)/gain, net   (23 )   (62 )   38     5  
    Interest income   2,187     288     236     33  
    Interest expenses   (6 )   (42 )   (39 )   (5 )
    Other income/(loss)   15     (805 )        
    Gains from fair value change   23     45     38     5  
    Loss before income taxes   (2,857 )   (799 )   (1,272 )   (175 )
    Income tax benefits/(expenses)   244     105     (336 )   (46 )
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Less: net (loss)/income attributable to noncontrolling interests   (214 )   372     944     130  
    Net loss attributable to Aurora Mobile Limited’s shareholders   (2,399 )   (1,066 )   (2,552 )   (351 )
    Net loss per share, for Class A and Class B common shares:                
    Class A and B Common Shares – basic and diluted   (0.03 )   (0.01 )   (0.03 )   (0.00 )
    Shares used in net loss per share computation:                
    Class A Common Shares – basic and diluted   62,687,345     63,200,100     63,254,710     63,254,710  
    Class B Common Shares – basic and diluted   17,000,189     17,000,189     17,000,189     17,000,189  
    Other comprehensive income/(loss)                
    Foreign currency translation adjustments   78     1,357     (82 )   (11 )
    Total other comprehensive income/(loss), net of tax   78     1,357     (82 )   (11 )
    Total comprehensive (loss)/income   (2,535 )   663     (1,690 )   (232 )
    Less: comprehensive (loss)/income attributable to noncontrolling interests   (214 )   372     944     130  
    Comprehensive (loss)/income attributable to Aurora Mobile Limited’s shareholders   (2,321 )   291     (2,634 )   (362 )
                     
    AURORA MOBILE LIMITED
    UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                 
        As of
        December 31, 2024   March 31, 2025
        RMB   RMB   US$
    ASSETS            
    Current assets:            
    Cash and cash equivalents   119,171     113,267     15,609  
    Restricted cash   376     375     52  
    Accounts receivable   50,804     54,071     7,451  
    Prepayments and other current assets   14,264     17,354     2,391  
    Total current assets   184,615     185,067     25,503  
    Non-current assets:            
    Long-term investments   113,506     113,458     15,635  
    Property and equipment, net   4,573     4,331     597  
    Operating lease right-of-use assets   17,146     15,892     2,190  
    Intangible assets, net   13,767     12,788     1,762  
    Goodwill   37,785     37,785     5,207  
    Deferred tax assets   131     167     23  
    Other non-current assets   6,510     6,503     895  
    Total non-current assets   193,418     190,924     26,309  
    Total assets   378,033     375,991     51,812  
    LIABILITIES AND SHAREHOLDERS’ EQUITY            
    Current liabilities:            
    Short-term loan   3,000          
    Accounts payable   32,691     34,114     4,701  
    Deferred revenue and customer deposits   147,111     156,929     21,625  
    Operating lease liabilities   4,461     4,152     572  
    Accrued liabilities and other current liabilities   74,370     66,407     9,151  
    Total current liabilities   261,633     261,602     36,049  
    Non-current liabilities:            
    Operating lease liabilities   13,376     12,292     1,694  
    Deferred tax liabilities   3,059     2,891     398  
    Other non-current liabilities   567     567     78  
    Total non-current liabilities   17,002     15,750     2,170  
    Total liabilities   278,635     277,352     38,219  
    Shareholders’ equity:            
    Common shares   50     51     7  
    Treasury shares   (1,674 )   (2,898 )   (399 )
    Additional paid-in capital   1,045,221     1,047,375     144,332  
    Accumulated deficit   (995,715 )   (998,267 )   (137,565 )
    Accumulated other comprehensive income   20,040     19,958     2,750  
    Total Aurora Mobile Limited’s shareholders’ equity   67,922     66,219     9,125  
    Noncontrolling interests   31,476     32,420     4,468  
    Total shareholders’ equity   99,398     98,639     13,593  
    Total liabilities and shareholders’ equity   378,033     375,991     51,812  
                 
    AURORA MOBILE LIMITED
    RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
    Reconciliation of Net Loss to Adjusted Net (Loss)/Income:              
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Add:                
    Share-based compensation   1,268     795     407     56  
    Adjusted net (loss)/income   (1,345 )   101     (1,201 )   (165 )
    Reconciliation of Net Loss to Adjusted EBITDA:                
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Add:                
    Income tax (benefits)/expenses   (244 )   (105 )   336     46  
    Interest expenses   6     42     39     5  
    Depreciation of property and equipment   380     197     266     37  
    Amortization of intangible assets   1,369     1,052     1,019     140  
    EBITDA   (1,102 )   492     52     7  
    Add:                
    Share-based compensation   1,268     795     407     56  
    Adjusted EBITDA   166     1,287     459     63  
                     
    AURORA MOBILE LIMITED
    UNAUDITED SAAS BUSINESSES REVENUE
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                     
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
                     
    Developer Services   44,749     70,998     62,322     8,588  
    Subscription   42,351     54,687     53,467     7,368  
    Value-Added Services   2,398     16,311     8,855     1,220  
    Vertical Applications   19,775     22,155     26,639     3,671  
    Total Revenue   64,524     93,153     88,961     12,259  
    Gross Profits   46,372     56,685     58,844     8,109  
    Gross Margin   71.9%     60.9%     66.1%     66.1%  
                     

    The MIL Network

  • MIL-Evening Report: Labor gains Senate seats in Victoria and Queensland, and surges to a national 55.6–44.4 two-party margin

    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

    Buttons have been pressed to electronically distribute preferences for the Senate in Victoria, the ACT, Queensland and Western Australia. Labor gained a seat from the Liberals in Victoria, with the other two unchanged. I had a wrap of earlier button presses on Tuesday.

    Six of the 12 senators for each state and all four territory senators were up for election on May 3. Changes in state senate representation are measured against 2019, the last time these senators were up for election.

    Senators are elected by proportional representation in their jurisdictions with preferences. At a half-Senate election, with six senators in each state up for election, a quota is one-seventh of the vote, or 14.3%. For the territories, a quota is one-third or 33.3%.

    Labor has won three of the six Victorian senators, the Coalition two and the Greens one, a gain for Labor from the Coalition since 2019. That’s a 4–2 split from Victoria to the left.

    Final primary votes gave Labor 2.43 quotas, the Coalition 2.20, the Greens 0.87, One Nation 0.31, Legalise Cannabis 0.25, Trumpet of Patriots 0.18, Family First 0.13, Animal Justice 0.11 and Victorian Socialists 0.11.

    On the distribution of preferences, Labor’s third candidate defeated One Nation by 0.87 quotas to 0.81. Neither the third Liberal nor Legalise Cannabis were anywhere near One Nation at earlier exclusion points.

    On the exclusion of the Liberals, 50% of their preferences went to One Nation, 22% to Labor, 14% to Legalise Cannabis and the rest exhausted. At this point, One Nation led Labor by 0.73 quotas to 0.67 with 0.47 for Legalise Cannabis. On Legalise Cannabis’ exclusion, Labor won 42% of preferences, One Nation 19% and the rest exhausted, giving Labor its win.

    The third candidate on Labor’s Victorian Senate ticket was Michelle Ananda-Rajah, the former Labor member for Higgins before Higgins was abolished in a redistribution.

    Usually Labor only wins two Victorian senators with the Greens winning the third for the left. Ananda-Rajah would not have expected to be back in parliament, although in a different chamber.

    WA, Queensland and ACT Senate results

    The Western Australian Senate result is two Labor, two Liberals, one Green and one One Nation, a gain for One Nation from the Liberals. Final WA primary votes gave Labor 2.53 quotas, the Liberals 1.86, the Greens 0.90, One Nation 0.41, Legalise Cannabis 0.28, the Nationals 0.25 and Australian Christians 0.19.

    Until very late it had been expected that Labor would take the last seat instead of One Nation, but The Poll Bludger changed his model to give One Nation a slight lead owing to evidence of stronger Coalition flows to One Nation in other states.

    In Queensland, Labor won two seats, the Liberal National Party two, the Greens one and One Nation one. This was a gain for Labor from the LNP after Labor’s 2019 disaster, when they won just one Queensland senator.

    Final Queensland primary votes gave the LNP 2.17 quotas, Labor 2.13, the Greens 0.73, One Nation 0.50, Gerard Rennick 0.33, Trumpet of Patriots 0.26 and Legalise Cannabis 0.25.

    I will analyse the WA and Queensland preference distributions in a final Senate results wrap article that will be posted after the final state, New South Wales, has its button pressed. Labor is expected to gain a seat in NSW from the Coalition.

    Left-wing independent David Pocock and Labor were both re-elected in the ACT, with no change since 2022. Final primary votes were 1.17 quotas for Pocock, 0.95 Labor, 0.53 for the Liberals (just 17.8%) and 0.23 for the Greens. Labor crossed quota on the exclusion of second Pocock candidate with the Liberals and Greens still remaining.

    Labor’s national two party vote up to a 55.6–44.4 lead

    On May 5, two days after the election, I explained that we needed to wait for “non-classic” seats to have a special two-party count undertaken between the Labor and Coalition candidates. Non-classic seats are seats where the final two were not Labor and Coalition candidates.

    With the major party national primary votes so low at this election, 35 of the 150 House of Representatives seats were non-classics. Before the two-party counts in these seats started, The Poll Bludger’s national two-party estimate gave Labor a 54.6–45.4 margin and the ABC a 55.0–45.0 margin.

    This week the electoral commission has been counting the Labor vs Coalition two-party votes in the non-classic seats, and Labor currently leads by 55.6–44.4. The national two-party vote is still incomplete, but the large majority of non-classic seats have now had a two-party count undertaken.

    The remaining non-classic seats that are either uncounted or partially counted to two-party are favourable to the Coalition, so Labor will drop back a little, but will still win the national two party vote by about 55.4–44.6.

    Labor’s biggest wins on a Labor vs Coalition basis are seats where Labor and the Greens made the final two. For example in Wills, Labor defeated the Greens by 51.4–48.6, but the two-party count gives Labor a massive 80.9–19.1 win over the Liberals. Swings to Labor in non-classic seats have been bigger than swings in classic seats, so Labor’s two-party vote has increased.

    Labor’s big two-party win makes the pre-election polls look worse than they did on election night. Here’s the poll graph I was posting in all my pre-election articles updated with the estimated final two-party margin.

    Only one national poll was accurate: the Morgan poll published two weeks before the election that gave Labor a 55.5–44.5 lead. It’s a shame for Morgan that their final two polls “herded” back to a consensus that was wrong. I will have a full review of the federal polls once all results are finalised.

    Recounts in Bradfield and Goldstein

    A full recount is in progress in Liberal-held Bradfield, where the Liberal was ahead of Teal Nicolette Boele by eight votes after distribution of preferences. Four days into the recount, the Liberal leads by just five votes.

    A partial recount in Goldstein of the primary votes for Liberal Tim Wilson and Teal incumbent Zoe Daniel is also underway after Wilson led by 260 votes after distribution of preferences. Two days into this recount, Wilson leads by 259 votes and will win unless large errors are found that favour Daniel when corrected.

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

    ref. Labor gains Senate seats in Victoria and Queensland, and surges to a national 55.6–44.4 two-party margin – https://theconversation.com/labor-gains-senate-seats-in-victoria-and-queensland-and-surges-to-a-national-55-6-44-4-two-party-margin-257714

    MIL OSI AnalysisEveningReport.nz

  • PM Modi celebrates Sikkim@50, calls Sikkim “pride of the nation,” promises visit soon

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Thursday addressed the ‘Sikkim@50’ programme virtually. The event, held in Gangtok, marked the golden jubilee of Sikkim’s statehood under the theme “Where Progress Meets Purpose, and Nature Nurtures Growth.”

    Extending warm greetings to the people of Sikkim, the Prime Minister expressed his regret at not being able to attend in person due to adverse weather conditions. “I wanted to witness the fervor, energy, and enthusiasm of the people in person, but due to inclement weather, I could not be present. I promise to visit Sikkim soon and be part of your achievements and celebrations,” PM Modi said.

    Recalling the journey of the state over the past 50 years, the Prime Minister described the day as a moment to celebrate Sikkim’s many achievements. He lauded the efforts of Sikkim Chief Minister Prem Singh Tamang and his team for organizing a grand and memorable event.

    “Fifty years ago, Sikkim charted a democratic future for itself. The people of Sikkim not only connected with India’s geography but also with its soul,” the Prime Minister remarked. He emphasized the power of inclusive democracy, saying, “When every voice is heard and rights are secured, equal opportunities for development emerge.”

    He noted the strengthened trust among Sikkim’s families and highlighted the nation’s recognition of the state’s progress. “Sikkim is the pride of the nation,” he declared, acknowledging the state’s transformation into a model of development in harmony with nature.

    “Sikkim has become a vast sanctuary of biodiversity, achieved the status of a 100% organic state, and emerged as a symbol of cultural and heritage prosperity,” the Prime Minister said. He further highlighted that Sikkim is now among the states with the highest per capita income in the country, a reflection of the people’s capabilities and hard work.

    The Prime Minister also paid tribute to the many stars from Sikkim who have illuminated India’s horizon, recognizing the rich contributions of every community toward the state’s cultural and economic prosperity.

    Since 2014, PM Modi said, his government has been guided by the principle of Sabka Saath, Sabka Vikas — development for all, with collective support. “A developed India requires balanced progress, ensuring that no region is left behind while others advance,” he stressed.

    The Prime Minister underlined the special focus on the Northeast region over the last decade. “Every state and region of India has its own unique strengths. Keeping this in mind, the government has placed the Northeast at the center of development,” he stated, adding, “The government is advancing the ‘Act East’ policy with the spirit of ‘Act Fast’.”

    Recalling the recently held Northeast Investment Summit in Delhi, PM Modi said leading industrialists and investors announced significant investments across the region, including Sikkim. “These investments will generate numerous employment opportunities for the youth of Sikkim and the entire Northeast in the coming years,” he added.

     

  • MIL-OSI China: Love, loss, and song: Chinese animated film tugs at heartstrings

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

    “Endless Journey of Love,” a new and original Chinese animated film set for release during the upcoming Dragon Boat Festival holiday, tells a poignant love story in a fantasy world centered on time manipulation and features a touching theme song performed by pop star Zhou Shen.

    A promotional image of Zhou Shen’s theme song for Chinese animated film “Endless Journey of Love.” [Image courtesy of Universal Music China]

    Zhou’s new song and music video, “Dreaming of You,” was released on May 26. His pure and delicate voice conveys the sense of destiny woven into the film’s narrative. Using “dreams” as metaphor key, the song unlocks the shared past of the film’s protagonists, Shi Qi and Qian Xiao, whilstexploring the universal themes of connection, farewell, and reunion. The song captures the human longing to control time, relive lost moments, and transforms unsaid goodbyes. into transcendent reunions across time.

    “This song can find its way into everyone’s life. Farewell is a mandatory lesson in life,” Zhou said, recalling several very important goodbyes in his life as he resonated with the film and song. “Many vivid stories may ultimately end at a gentle point. Just like the lyrics say, maybe one day we will meet again in a dream.”

    The theme song serves as the first single and beginning of a partnership between Universal Music China (UMC) and Brave Music, a label founded by the acclaimed Chinese composer and producer Qian Lei, who wrote and produced “Dreaming of You.” On May 26, the two companies announced a multi-year global distribution deal for UMC to distribute future releases from Brave Music, leveraging Universal Music Group’s global network. 

    Crew and voice cast pose for a group photo at the premiere of “Endless Journey of Love” in Beijing, May 27, 2025. [Photo courtesy of Bravo Entertainment]

    “Endless Journey of Love,” written and directed by the couple Yu Ao and Zhou Tienan, follows Qian Xiao, a seashore village girl in 1930s China. She gains control of time from a magical device called the “Wheel of Time.” As powerful forces pursue her, she meets Shi Qi, a cold-faced assassin who is also after the wheel. The two form a one-day partnership and embark on a thrilling, romantic and tear-jerking journey with plenty of twists. Their relationship shifts from rivals to allies as the wheel pursuers try to shape their fate. The stellar voice cast includes Karry Wang, Liu Xiaoyu, and singer Zhou Shen himself, along with movie stars Huang Bo and Jia Bing.

    The film is a blend of human nature, time control and the romantic courage to defy fate. The original plot offers a fresh idea, emotional depth, all amplified by a retro Shanghai-style setting. Directors Yu Ao and Zhou Tienan said that the five-year production tested their physical and mental endurance. From scriptwriting to voice acting and refining more than 2,000 shots, the team’s shared journey through time has brought the fantasy story to life.

    Director Yu Ao said at the premiere in Beijing on May 27: “farewell is the central theme of the entire film, yet being together ‘in this very moment’ gives us the courage to face parting.”

    According to co-director Yu, the inspiration for “Endless Journey of Love” came from an unexpected farewell to their beloved dog. Learning to let go of that pain, alongside the regrets, forged the starting point for their writing. Through a fantasy story about time, the creators aim to impart a much more important lesson to viewers, this being, to “seize the moment” and not waste time. 

    Sun Lingyu, the film producer who guided its development, said that “Endless Journey of Love” is a work infused with love and hope. These principles are in the the film’s very DNA. It is her hope that this film will help people reflect on their own lives and remember their loved ones.

    A poster for “Endless Journey of Love.” [Image courtesy of Maoyan Entertainment]

    The film is scheduled for nationwide release in China on May 30, ahead of the upcoming Dragon Boat Festival and International Children’s Day holiday starting May 31.

    MIL OSI China News

  • MIL-OSI: Temenos Forward Awards celebrate banks leading the way in innovation

    Source: GlobeNewswire (MIL-OSI)

    GRAND-LANCY, Switzerland, May 29, 2025 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN), a global leader in banking technology, today announced the winners of the Temenos Forward Awards 2025, which recognize the innovation of Temenos customers who are leading the way in the banking industry.

    Jean-Pierre Brulard, Chief Executive Officer, Temenos, commented: “As banks adapt to changing customer demands and the opportunities and challenges of transformative technologies such as Generative AI, the Temenos community is shaping the future of finance. We are delighted to recognize the success of banks at the forefront of innovation with our Temenos Forward Awards. Congratulations to all our award winners. Together, we are leading banking forward.”

    The following awards were selected by a judging panel comprised of Temenos executives, previous award winners, journalists and industry analysts.

    Future-Ready Banking Award – Santander International

    In 2024, Santander International became the first Temenos client to utilize lending on the Temenos SaaS Foundation Platform. Throughout the program it has transitioned to a near-zero customization SaaS architecture with integrations that enhance customer analysis and reporting, demonstrating Santander International’s commitment to agility and customer-centric solutions.

    Customer Experience Excellence Award – PC Financial

    Part of Loblaw Companies Limited, Canada’s leading food and pharmacy retailer, PC Financial offers a range of financial products designed to deliver on the company’s purpose – helping Canadians Live Life Well. The retailer went live on Temenos SaaS in just six months and has raised the bar in digital banking with the launch of an innovative new savings feature for the PC Money Account. PC Financial is seeing strong customer engagement with this feature and stands out with a unique customer experience strategy that seamlessly blends everyday banking products with retail offerings.

    Fast Track Growth Award – STC Bank

    STC Bank has emerged as a fintech leader in Saudi Arabia, transforming from STC Pay into STC Bank as a fully licensed digital bank. This evolution highlights its strategic investment in cutting-edge technologies and innovation to redefine banking services standards in the region. With Temenos Core, the bank has successfully launched a microservice and data-driven architecture and is expanding into innovative lending and digital deposit solutions, reinforcing its strategy of modular, data-driven offerings.

    Digital Transformation Award – Credem

    Credem, a prominent Italian bank, has emerged as a digital banking frontrunner through its deep commitment to innovation and client-centric experiences. Having launched several new mobile apps using Temenos Digital, the bank offers a seamless, consistent experience for Retail, SME, and Private Wealth clients. In 2024, Credem successfully launched a new Retail Online Banking (OLB) platform as well as a completely redesigned mobile banking interface, leading to a significantly enhanced user experience and a marked improvement in its AppStore ratings.

    Ambassador Award – Jihyun Lee (Bank Julius Baer)

    As Head of IT APAC and Global Core Banking at Bank Julius Baer, Jihyun has consistently demonstrated visionary leadership, driving transformative projects that redefine modern core banking systems. Her expertise in pioneering innovations such as fully automated CI/CD pipelines and real-time integration patterns has positioned her as a trusted strategic partner within the Temenos community. Jihyun’s commitment to excellence and her ability to foster collaborative relationships make her a true ambassador of Temenos’ values and a thought leader in the industry.

    Additionally, the following clients were chosen for a People’s Choice Award for their successful deployment of an innovative solution. Voting was conducted by a jury, as well as peers on social media.

    People’s Choice Award (Banking Innovation) – MIDBANK

    Established in 1975, MIDBANK provides retail, corporate, and investment banking services across Egypt. The bank has modernized its core and digital banking operations with Temenos to enhance efficiency and customer experience. This has led to a 30% reduction in processing times for transactions, projected annual savings of 20% in operational costs due to improved automation and streamlined workflows, and 25% higher customer satisfaction scores within the first six months of its migration.

    People’s Choice Award (Banking Innovation) – EQ Bank

    EQ Bank is Canada’s first-born digital bank, showing Canadians how banking can – and should – be better. In collaboration with Temenos and Microsoft, EQ Bank developed the TDH-EQB Fabric environment – an innovative solution enabling near real-time data access within the Temenos Data Hub (TDH) environment. This initiative delivers significant benefits to both EQ Bank and Temenos by enhancing performance, optimizing operational efficiency, and enabling faster insights.

    The MIL Network

  • MIL-OSI: Mavenir Collaboration with Three UK and Red Hat Doubles Glasgow 5G Speeds in UK-First Open RAN Small Cells Roll-Out

    Source: GlobeNewswire (MIL-OSI)

    • Mavenir Open vRAN and O-RAN compliant small cells central to success of Three UK’s Glasgow City Centre roll-out – boosting coverage and capacity across a high-demand, dense urban environment
    • Landmark trial demonstrates the benefit of deploying Open RAN small cells alongside existing macro networks to solve blackspot issues

    GLASGOW, Scotland, May 29, 2025 (GLOBE NEWSWIRE) — Mavenir, the cloud-native network infrastructure provider, working in collaboration with operator Three UK and the world’s leading provider of open source solutions, Red Hat, has successfully demonstrated the performance benefits of 5G non-standalone O-RAN compliant small cells in Glasgow City Centre – doubling 5G speeds at peak times.

    This milestone UK-first trial of Open RAN in a dense urban environment also marks the first live deployment of O-RAN compliant small cells working alongside legacy macro cells from traditional vendors in this environment – driving a significant reduction in traffic congestion by delivering high-quality coverage and additional capacity. During the initial phase of the trial, both 4G and 5G speeds doubled during the busiest times of the day, with Three UK’s 5G speeds reaching an impressive 520Mbps across the trial area. The capacity boost also cascaded into further performance and user experience improvements in surrounding sites.

    Following the successful trial of 18 live sites in Glasgow City Centre, the project will now move into its final deployment phase, bringing the total number of Open RAN small cell sites to 34.

    Mavenir’s roll-out of a small cell densification layer for Three UK is being delivered as part of the SCONDA (Small Cells O-RAN in Dense Areas) project – a key connectivity initiative backed by the UK government’s Department for Science, Innovation and Technology (DSIT). The project represents a significant step forward for Open RAN in the UK by trialing – for the first time – the integration of a full decentralized Open RAN architecture with existing traditional infrastructure into a high traffic, high footfall city setting.

    Mavenir is delivering a full 4G and 5G O-RAN solution, including its OpenBeam small cell radios running on Red Hat OpenShift, the industry’s leading hybrid cloud application platform powered by Kubernetes. Mavenir 4G and 5G small cell radios are being deployed on lamp posts across Glasgow to offload macro traffic and enable automation of network performance within a challenging multi-vendor, multi-technology radio environment. Three UK is leveraging Red Hat OpenShift to build and deliver the Open vRAN network, integrated into the existing 4G core of Three UK, and operating alongside the operator’s traditional RAN.

    Brandon Larson, SVP, Cloud and AI at Mavenir, said: “This network densification project proves that the Open RAN layer built by Mavenir can efficiently and effectively meet the needs of Three UK and its customers in one of the busiest cities in the UK. Our solution has delivered a 2x improvement in 5G speeds, a measurable uplift in capacity, and handover of customer traffic has been outstanding. This powerfully demonstrates that Open RAN can be fully integrated alongside traditional vendors – a breakthrough that will get the attention of radio network design teams around the world for the cost savings and flexibility it offers.”

    Iain Milligan, Chief Network Officer at Three UK said: “Mavenir and Red Hat have been exceptional partners on this groundbreaking project – the UK’s first Open RAN trial to tackle the real-world complexity of a dense urban environment. We have pushed the boundaries and proven that the Open RAN approach is a hugely valuable addition to network design and deployment.”

    He added: “Urban deployments bring a different level of technical and operational challenge compared to rural environments. We’ve had to navigate integration with legacy systems, security layers, and evolving software – all while delivering measurable improvements for customers. The trial results are encouraging and provide a strong foundation for further scaling and optimisation of Open RAN in cities.”

    Honoré LaBourdette, Vice President, Global Telco Ecosystem at Red Hat, said: “Red Hat and Mavenir share a commitment to delivering optimized Open RAN solutions for service providers to achieve improved network performance and unlock the next generation of 5G use cases. We are pleased to collaborate with Mavenir to implement an integrated 5G Standalone Open RAN solution, powered by Red Hat OpenShift, to help Three UK deliver enhanced customer experiences and streamline operations for the city of Glasgow.”

    With this latest deployment, Mavenir and Red Hat are continuing to offer carrier-grade telco cloud solutions to mobile network operators, leveraging a decade of well-established collaboration. Mavenir RAN workloads on Red Hat OpenShift offer an attractive value proposition for the mobile network operators.

    Key benefits delivered by Mavenir using Red Hat OpenShift include:

    • Full stack automation: Integration of Red Hat Advanced Cluster Management for Kubernetes with Mavenir’s Cloud-Native Automation provides full stack automation and streamlined day-1 and day-2 operational management.
    • Pre-integrated and pre-tested reference architectures: Red Hat and Mavenir help minimize complexity and reduce time spent on integration by providing a common, pre-integrated reference architecture.
    • Scalable design and faster time-to-market: Offering design flexibility to scale the architecture with Mavenir workloads on Red Hat OpenShift and leveraging additional tools for faster deployments.
    • Comprehensive Security Capabilities: Mavenir’s Open RAN solution on Red Hat OpenShift provides mobile networks with core platform security controls, including admission controllers, container isolation via Security Context Constraints (SCCs), runtime protection using kernel-level security modules (seccomp, SELinux), role-based access controls (RBAC) and network segmentation through CNI/OVN. These capabilities align with industry practices, enabling operators to implement hardened configurations for compliance objectives.

    Notes to editors

    The SCONDA project is a partnership with Three UK, Mavenir, AWTG, Freshwave, PI Works, the 5G Scotland Centre and Accenture, with the support of Glasgow City Council and funding from the UK government’s Department for Science, Innovation and Technology (DSIT).

    Three UK doubles Glasgow city centre speeds with UK-first Open RAN roll-out

    About Three UK:

    Hutchison 3G UK Limited, trading as Three UK, is a British telecommunications company based in Reading, England. It is an indirect, wholly owned subsidiary of CK Hutchison Holdings, a limited liability Cayman Islands company registered and listed in Hong Kong. Three is the fourth-largest mobile network operator in the United Kingdom, with about 10.9 million subscribers as of November 2024. For more information, please visit https://www.three.co.uk/

    About Mavenir:

    Mavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com

    Red Hat, the Red Hat logo and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.

    Mavenir PR Contact:
    Emmanuela Spiteri
    PR@mavenir.com

    The MIL Network

  • MIL-OSI: Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin Offerings on Spot Market

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 29, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Ripple USD (RLUSD) on its spot trading platform. RLUSD, an enterprise-grade USD-backed stablecoin issued by Ripple, enters the Bitget ecosystem at a time when demand for secure and compliant digital assets continues to rise, particularly among institutional participants and developers focused on enterprise-grade blockchain use cases.

    As a stablecoin pegged 1:1 to the U.S. dollar, RLUSD is natively issued on both the XRP Ledger (XRPL) and Ethereum, leveraging the unique strengths of each blockchain. The asset is backed by a segregated reserve held in USD fiat and cash equivalents. Bitget’s decision to list RLUSD aligns with its strategy to support strong, high utility-driven assets across its growing spot market, which serves as a curated space for projects that advance blockchain adoption through real-world applications.

    “We’re excited to partner with Ripple, a team that has consistently pushed forward the adoption of crypto,” said Gracy Chen, CEO of Bitget. “RLUSD stands out as one of the few stablecoins issued by a NYDFS-chartered limited purpose trust company, placing it in a uniquely clear regulatory framework. This is particularly important for institutions seeking transparency and compliance in today’s evolving digital asset landscape. Listing RLUSD also aligns with our 2025 strategy to expand institutional offerings and build a more robust, trusted ecosystem.”

    The RLUSD listing on Bitget expanded access and offered a trusted trading venue for one of the industry’s most closely monitored digital assets.

    Bitget continues to scale its listings to support the increasing demand of the crypto market. The integration of RLUSD responds to the ongoing wave of stablecoins gaining popularity as critical tools in decentralized finance (DeFi), gaming, and tokenized asset ecosystems.

    With an extensive selection of over 900 crypto pairs and a commitment to broadening its offerings, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of RLUSD signals a strategic move to embrace regulated stablecoins’s becoming a gateway to trade innovative crypto projects.

    To know more about RLUSD on Bitget please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    About Ripple

    Ripple is the leading provider of digital asset infrastructure for financial institutions and other enterprises—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple’s solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record of working with regulators and policymakers around the world, Ripple’s payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world creates, stores, manages and moves value.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9cba8e14-64a1-4afa-b20e-1fb01bb7d4f6

    The MIL Network

  • MIL-OSI: Nokia brings Wi-Fi 7 to all with launch of Beacon 4 and 9 home devices

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia brings Wi-Fi 7 to all with launch of Beacon 4 and 9 home devices

    • Nokia introduces new entry-level and mid-tier Beacons that can deliver speeds over 3x faster than Wi-Fi 6 devices.  
    • Nokia Beacons bring affordable Wi-Fi 7 to customers globally, providing multi-gigabit capacity needed to support future devices and services in the home.
    • Nokia’s Beacon 4 and 9, powered by Corteca software, simplify device management and support enhanced services via applications available on the Corteca marketplace.

    29 May 2025
    Espoo, Finland – Today, Nokia launched two new Wi-Fi 7 gateways designed to deliver, reliable, ultra-fast broadband to every corner of the home. Nokia’s entry level Beacon 4 and mid-tier Beacon 9 offer gigabit speeds over Wi-Fi – essential for supporting the expanding demands of streaming, online gaming, video, smart home, and security applications in the home.  

    As XGS-PON and 25G PON services grow, Wi-Fi upgrades are essential to delivering multi-gigabit speeds into homes.   Nokia’s new Beacon 4 and 9 are designed specifically for this purpose, allowing service providers to offer an affordable, best-in-class Wi-Fi 7 experience for the masses. Incorporating Wi-Fi 7’s full capabilities, the dual-band Beacon 4 gateway delivers 3.6Gbs speeds over Wi-Fi while the tri-band Beacon 9 gateway delivers blazingly fast 9.4Gbs speeds that help eliminate slowdowns and buffering issues. Both Beacons are powered by its Corteca software which allows operators to create and monetize better broadband experiences.

    “As the connected home ecosystem grows increasingly complex, Wi-Fi 7 emerges not just as a technological upgrade, but as a strategic necessity. To unlock the full market potential of Wi-Fi 7, it is essential to accelerate its availability across a wider range of devices. Expanding access – while preserving opportunities for service providers to differentiate and monetize premium offerings – will be key to driving adoption at scale and delivering the elevated experience consumers expect.” said Alzbeta Fellenbaum, Practice Leader, Service Provider – Consumer at Omdia.

    “Wi-Fi 7 is a pivotal new technology that will power the connected home of the future. Operators can now make Wi-Fi 7 a reality for customers, with two new affordable solutions that ensure multi-gigabit speeds are delivered to every corner of the home for the ultimate experience,” said Dirk Verhaegen, Head of Broadband Devices, Fixed Networks at Nokia.

    The new gateways expand Nokia’s portfolio of Wi-Fi 7 devices which now include the Beacon 4, Beacon 9, Beacon 19 and Beacon 24 models, each designed to meet the varying demands of operators and end-users globally.

    Multimedia, technical information and related news 
    Web Page: Nokia Wi-Fi
    Web Page: Nokia Beacon 9
    Web Page: Nokia Beacon 4

    About Nokia
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. 

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network

  • MIL-OSI: Lovart Launches The First Design Agent, Draws Global User Surge

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, May 29, 2025 (GLOBE NEWSWIRE) — Lovart, a San Francisco-based AI startup, has officially launched its autonomous design agent — a platform designed to automate the entire creative process, from concept to final deliverables.

    Unlike traditional AI tools focused on single outputs, Lovart enables users to generate dozens of professional-grade assets simultaneously, spanning images, video, audio, and 3D. The system integrates multiple AI models, orchestrating hundreds of design steps automatically to produce layered, editable content ready for direct use.

    From Concept to Production: A New Design Paradigm

    Users input a single prompt, and Lovart delivers up to 40 outputs, including storyboards, branding kits, UI flows, and multimedia content. The platform features an infinite canvas with advanced editing tools familiar to designers, such as layers, masks, and text refinement. Export formats include PNG, SVG, video, and audio — ensuring outputs meet professional standards.

    https://www.youtube.com/watch?v=KBeHmuRAJ7I&t=1s

    Launch Reception and Market Response

    Within the first 24 hours of its launch on X (formerly Twitter), a discussion thread about Lovart garnered over 5,000 posts, reflecting strong community engagement. The waitlist grew rapidly, surpassing 100,000 users across 70+ countries within five days.

    Lovart’s Discord server has become a vibrant hub where users hold “Agent Battles,” competitions that pit the platform’s AI agents against complex creative briefs in real time.

    Industry Context: The Rise of Vertical AI Agents

    Industry analysts view Lovart as a prime example of the growing trend towards vertical AI agents — domain-specific AI systems designed to replace traditional workflows.

    YC partner Jared Friedman characterizes these agents as “autonomous teammates” that extend beyond general-purpose AI, bringing specialized expertise to complex tasks.

    Community and Creative Use Cases

    Early adopters are using Lovart to produce full marketing campaigns, multimedia storyboards, and interactive design projects with minimal manual input. The platform’s seamless orchestration of multimodal AI models allows creatives to focus on ideas while the agent handles execution.

    Access and Further Information

    Lovart continues to onboard new users and expand its feature set. Interested professionals can learn more or join the waitlist via:

    Lovart positions itself as a new standard in creative automation, offering professionals an autonomous agent capable of handling complex, multimodal design workflows from start to finish.

    About Lovart

    Lovart AI is a San Francisco-based technology company pioneering the world’s first Design Agent — an AI-native system that interprets creative intent, decomposes complex tasks, and coordinates leading multimodal models to deliver comprehensive outputs across image, video, and 3D formats. Co-founded by Haofan Wang, an AI researcher with training from Carnegie Mellon University, and supported by a global team of experts in AI systems and creative tooling, Lovart is transforming the creative landscape. Since launching in 2025, the platform has rapidly gained traction with over 100,000 users joining within just 5 days, fundamentally changing how modern creators and studios approach design workflows.

    Media Contact

    Organization: Resonate International lNC

    Contact Person: Jane Huo

    Email: aimeey@int.lovart.ai

    Country: United States

    City: San francisco

    Website:https://www.lovart.ai/

    Photos accompanying this announcement are available at: 
    https://www.globenewswire.com/NewsRoom/AttachmentNg/3c892497-f390-404c-9675-758657c5431e
    https://www.globenewswire.com/NewsRoom/AttachmentNg/6481863c-d379-4206-8354-2c73aba65e10

    The MIL Network

  • Crisil pegs India’s GDP growth at 6.5% in fiscal 2026

    Source: Government of India

    Source: Government of India (4)

    Crisil on Thursday forecast India’s gross domestic product (GDP) growth at 6.5 per cent in fiscal 2026, adding that improving domestic consumption is likely to support industrial activity.

    “We expect domestic consumption demand to improve driven by healthy agricultural growth, easing inflation supporting discretionary spend, rate cuts by the Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) and income tax relief this fiscal,” the global ratings agency said in a note.

    The India Meteorological Department expects an above-normal monsoon this fiscal (106 per cent of long-period average), which bodes well for agricultural production and inflation.

    Furthermore, according to Crisil Intelligence, crude oil prices are expected to remain subdued this fiscal, averaging $65-$70 per barrel compared with an average of $78.8 per barrel in the previous fiscal.

    “We expect the MPC to cut the repo rate by another 50 basis points (bps) this fiscal, after 50 bps cuts until April. Bank lending rates have begun easing, which should support domestic demand,” according to the note.

    Overall, Crisil forecasts gross domestic product (GDP) growth at 6.5 per cent in fiscal 2026, with external headwinds posing downside risks.

    In the month of significant tariff announcements by the United States (US), IIP growth slowed in April. Production slowed in certain export-oriented sectors (including pharmaceuticals and chemicals), while front-loading exports benefitted others (machinery and readymade garments). Among consumer goods, durables performed better than non-durables.

    Industrial goods recorded a mixed performance, with output growth in capital goods picked up sharply along with a mild acceleration in intermediate goods.

    Performance of export-oriented sectors was mixed in April, despite the sharp improvement in merchandise exports (9.0 per cent in April in nominal terms vs 0.7 per cent in the previous month).

    There was also a 6.4 per cent increase in the production of consumer durables such as electronic goods, refrigerators, and TVs during November, reflecting the higher consumer demand for these items amid rising incomes, according to data released by the Ministry of Statistics.

    The infrastructure sector clocked a growth of 4 per cent on the back of big-ticket government projects being implemented in the highways, railways and ports sectors.

    (IANS)

  • Deadly break in at UN warehouse as aid trickles into Gaza

    Source: Government of India

    Source: Government of India (4)

    A United Nations warehouse in war-torn Gaza was broken into by “hordes of hungry people” on Wednesday as aid trickles into the Palestinian enclave on the brink of famine and the United States readies new terms for a possible truce between Israel and Hamas.

    The World Food Programme said initial reports were that two people had died and several more were injured at the central Gaza warehouse. The U.N. agency appealed for an immediate scale-up of food aid “to reassure people that they will not starve.”

    Eyewitness video independently verified by Reuters shows large crowds of people pushing into the warehouse and removing bags and boxes as gunfire can be heard. It was not immediately clear how the people may have been killed or injured in the incident.

    Under growing international pressure, Israel ended an 11-week long aid blockade on Gaza 10 days ago. It has allowed a limited amount of relief to be delivered via two avenues – the United Nations or the U.S.-backed Gaza Humanitarian Foundation.

    U.N. Middle East envoy Sigrid Kaag told the Security Council that the amount of aid Israel had so far allowed the U.N. to deliver was “comparable to a lifeboat after the ship has sunk” when everyone in Gaza was facing the risk of famine.

    The United States has been trying to broker a ceasefire. Israel – which resumed its military operation in Gaza in March after a brief truce – continued strikes on Wednesday, killing at least 30 people, Palestinian health officials said.

    “We are on the precipice of sending out a new term sheet that hopefully will be delivered later on today,” U.S. President Donald Trump’s special envoy, Steve Witkoff, said on Wednesday. “The president is going to review it.”

    The war in Gaza was triggered on October 7, 2023, when Palestinian militants Hamas killed 1,200 people in southern Israel and took some 250 hostages, according to Israeli tallies. Since then, Israel’s military campaign has killed more than 53,000 Palestinians, according to Gaza health authorities.

    UN VS GHF

    Israeli Prime Minister Benjamin Netanyahu said on Wednesday that Israel’s killing of Hamas Gaza chief Mohammad Sinwar marked a turn towards the “complete defeat of Hamas”, adding that Israel was “taking control of food distribution” in Gaza.

    Israel has accused Hamas of diverting and seizing aid supplies. Hamas has denied stealing aid.

    At the United Nations, more than half the Security Council called on Wednesday for the 15-member body to act on Gaza. Slovenia’s U.N. Ambassador Samuel Zbogar said some members are working on a draft resolution to demand unimpeded aid access.

    “Remaining silent is not an option,” he told the council.

    Israel’s U.N. Ambassador Danny Danon told the Security Council that Israel would allow aid deliveries “for the immediate future” via both the U.N. and the Gaza Humanitarian Foundation, which began aid deliveries on Monday.

    However, Israel ultimately wants the U.N. to work through the GHF, which is using private U.S. security and logistics companies to transport aid into Gaza for distribution by civilian teams at so-called secure distribution sites.

    “The U.N. should put their ego aside and cooperate with the new mechanism,” Danon told reporters before the council meeting.

    The U.N. and other international aid groups have refused to work with the GHF because they say the plan is not neutral.

    “This new scheme is surveillance-based rationing that legitimizes a policy of deprivation by design,” senior U.N. aid official for the occupied Palestinian territories, Jonathan Whittall, told reporters in Jerusalem on Wednesday.

    “The U.N. has refused to participate in this scheme, warning that it is logistically unworkable and violates humanitarian principles by using aid as a tool in Israel’s broader efforts to depopulate areas of Gaza,” he said.

    WARNING SHOTS

    The U.S. ambassador to Israel, Mike Huckabee, told Reuters it was “sad and disgusting” that the U.N. and other groups would not work with the GHF, describing the foundation’s aid distribution as “effective so far.”

    The Israeli military on Tuesday said it fired warning shots in the area outside a GHF distribution site, which was briefly rushed by people waiting for aid. Footage shared on social media showed fences broken down by crowds as private security contractors fell back before restoring order.

    “I am a big man, but I couldn’t hold back my tears when I saw the images of women, men and children racing for some food,” said Rabah Rezik, 65, a father of seven from Gaza City.

    The United Nations human rights office said on Wednesday that 47 people had been injured on Tuesday while seeking aid from the GHF, citing information from partners on the ground. It could not give a specific location of where people were injured. The GHF said no one was injured at the distribution site.

    The foundation said aid distribution continued on Wednesday without incident as it opened a second distribution hub. Across the two sites it has so far given out the equivalent of 840,262 meals. The GHF said it is working to open four sites and expand further in Gaza in the weeks ahead.

    The United Nations said that since aid deliveries resumed last week Israel had approved about 800 truckloads of relief.

    But U.N. spokesperson Stephane Dujarric said that fewer than 500 truckloads had made it to the Palestinian side of the Kerem Shalom crossing, “where we and our partners could collect just over 200 of them – limited by insecurity and restricted access.”

    Israel is under pressure over Gaza’s dire humanitarian situation. France, Britain, Canada and Germany have said they may take action if the military campaign is not halted. Italy on Wednesday said the offensive had become unacceptable.

    (Reuters)