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Category: Business

  • MIL-OSI Asia-Pac: Taisugar Gas Stations Break Records with Over 100 Million Points Donated for Charity, NT$1.2 Million in Supplies Donated to Support Disadvantaged Groups.

    Source: Republic of China Taiwan

    To continue its commitment to social welfare and support for vulnerable communities, Taiwan Sugar Corporation (Taisugar) held its “Fuel Up with Love: Donate Points for Charity” campaign again this year, following the overwhelming response to last year’s initiative. Launched on March 1, the campaign received enthusiastic support from kind-hearted citizens, accumulating over 119.62 million loyalty points in just 1.5 months, setting a new record. Taisugar has converted the donated points into approximately NT$1.2 million worth of supplies, all of which have been donated to charitable causes. A presentation ceremony was held today (May 8) at Taisugar Chongde Gas Station in Tainan City, where Taisugar Vice President Chien-Chan Tseng presided over the donation ceremony. The event transformed the goodwill of every fuel-up and every point donated into tangible assistance, benefiting 11 charitable organizations and spreading warmth and hope to those in need.

    Vice President Tseng noted that since the debut of the donation campaign in November 2024, the initiative has received widespread acclaim. To keep the spirit of giving alive and inspire more public participation, Taisugar brought the campaign back this year with even greater success. This time, the campaign attracted over 250,000 participants, achieving a historic milestone of over 100 million points donated, demonstrating the compassion and generosity of Taiwanese society. In addition, Taisugar gas stations boosted the campaign by matching an extra 10 points for every liter of fuel purchased, amplifying the collective goodwill and encouraging more people to engage in small acts of kindness that make a significant impact for disadvantaged communities.

    The accumulated points have been redeemed for supplies, which have been donated to 11 organizations, including Huashan Social Welfare Foundation, Genesis Social Welfare Foundation, Taiwan Fund for Children and Families, Eden Social Welfare Foundation, NT Angel Foundation, Little Lamb Foundation, Erlin Happy Christian Home, Tobias Social Welfare Foundation, Garden of Hope Foundation, Good Shepherd Social Welfare Foundation, and the Taipei Sports Association for the Physically Disabled. During the campaign, customers who fueled 25 liters or more and donated their points also received a Taisugar Glucosamine Plus as a token of appreciation.

    This initiative allowed the public to effortlessly contribute to charitable causes through their everyday fuel purchases, seamlessly integrating giving into daily life and empowering citizens to make a difference. Taisugar affirmed its commitment to further strengthening its charity platform, launching more meaningful, community-driven initiatives, and joining hands with the public to foster a cycle of kindness that brings continuous hope and positive change to society.

    TSC News Contact Person:
    Lin Hsin-Chih
    Petroleum Business Devision, TSC
    Contact Number: 886-6-632-8703 #802 / 886-939-919-530
    Email:a62462@taisugar.com.tw

    Tai Chih-Mou
    Petroleum Business Devision, TSC
    Contact Number: 886-6-632-8703 #101 / 886-988-721-867
    Email:a63425@taisugar.com.tw

    Petroleum Business Devision Customer Services Phone: 886-6-632-8703 #786 or 788

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Ben Roberts-Smith has lost an appeal in his long-running defamation case. Here’s why

    Source: The Conversation (Au and NZ) – By Rick Sarre, Emeritus Professor in Law and Criminal Justice, University of South Australia

    The full Federal Court has dismissed Ben Roberts-Smith’s appeal to have his defamation case loss overturned.

    It is important in seeking to understand this judgement to know the history of the case.

    In June 2023, Federal Court Justice Anthony Besanko handed down a 726-page judgement in the defamation case that Roberts-Smith, the most highly decorated serving member of the Australian Defence Force, had brought against Nine Entertainment news outlets.

    Reporters for the Sydney Morning Herald, the Canberra Times and The Age had alleged, in 2018, that Roberts-Smith, a patrol commander with the Australian Special Air Service Regiment, was a war criminal. They maintained he had murdered unarmed Afghan prisoners and civilians, and bullied fellow soldiers.

    These press reports were particularly galling to a man who had been awarded the Medal of Gallantry, the Victoria Cross, and a Commendation for Distinguished Service.

    He sued Nine Entertainment (then referred to as Fairfax Publications) and their investigative journalists.

    Submissions in the trial ended in July 2022 after 110 days of evidence. In the result, Justice Besanko determined that Nine Entertainment had not defamed Roberts-Smith. The judge found the reporting was capable of being deemed defamatory, but that most of the imputations were substantially true. That being the case, he upheld the defence of truth and contextual truth not only in relation to the allegations of murder, but also with respect to imputations regarding Roberts-Smith’s character.

    Roberts-Smith appealed to the full Federal Court. The appeal hearing ran for ten days in February 2024. Today, 15 months later, the appeal court consisting of Justices Nye Perram, Anna Katzmann and Geoffrey Kennett has dismissed his appeal.

    Because the case had national security implications, there is in place for a short period, a non-publication order over what is referred to as the “open court” reasons for judgement. The judges ordered that their reasons will not be available
    “until either the Commonwealth notifies the court and the parties that it has no objection to publication […] or 4pm on May 20, 2025, whichever is earlier”.

    In recent times it has become the practice of the Federal Court, in cases of public interest, to provide a summary to accompany the orders, available immediately. The summary provided to the public is not a complete statement of the conclusions reached. The only authoritative statement of the court’s reasons is that contained in the judgement that will be made available in due course.

    There are, however, a couple of matters that bear noting now.

    The first is that the appeal judges were unanimous in their support for the conclusions of the trial judge. In 2023, Justice Besanko made numerous adverse findings about the credibility of the evidence of Roberts-Smith, and the evidence of the witnesses whom he called on his behalf. Roberts-Smith sought to challenge all of those adverse findings and to point out errors in the trial judge’s findings. But it was to no avail.

    The appeal court’s summary states

    Having carefully considered all these matters, we are unanimously of the opinion that the evidence was sufficiently cogent to support the findings that the appellant murdered four Afghan men and to the extent that we have discerned error in the reasons of the primary judge, the errors were inconsequential. Accordingly, the appeal must be dismissed with costs.

    There is another, secondary matter arising from a side issue to the appeal, which bears mentioning here. When the draft judgement of the appeal court was close to completion, Roberts-Smith’s lawyers filed an application to lodge an amended notice of appeal. It referred to an audio recording that was sent anonymously to them in March this year. The recording purported to be a portion of a telephone conversation between investigative journalist Nick McKenzie and a witness whose identity is the subject of suppression orders.

    In this call, McKenzie was alleged to have admitted to using Roberts-Smith’s ex-wife as a source regarding her former husband’s legal strategy. Roberts-Smith’s lawyers said had they known of McKenzie’s alleged journalistic misconduct, they would have structured their arguments differently during the defamation trial.

    On the Federal Court website today, two judgements have been released in relation to the so-called McKenzie tape. The first gave the Roberts-Smith team a glimmer of hope. The appeal court judges determined that the application for them to hear the recording was, in fact, appropriate, and that the content was therefore admissible evidence in consideration of a new claim of miscarriage of justice.

    However, the second judgement extinguished any hope of this occurring. The appeal court judges concluded there was, in fact, no miscarriage of justice in not allowing the recording to be considered by a court.

    It’s been seven years since the allegations regarding Ben Roberts-Smith’s involvement in war crimes first surfaced. Roberts-Smith has indicated his intention to appeal to the High Court. This case may yet still have a way to run.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Ben Roberts-Smith has lost an appeal in his long-running defamation case. Here’s why – https://theconversation.com/ben-roberts-smith-has-lost-an-appeal-in-his-long-running-defamation-case-heres-why-223543

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Humanoid robots poised to transform China’s factory floor

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

    Inside Zeekr’s humming, 5G-enabled electric car factory in the eastern Chinese city of Ningbo, a new type of worker began its apprenticeship.

    One robot meticulously sorted components from a shelf, its fingers deftly peeling and applying labels. Nearby, two others coordinated to lift a box from a cart, placing it precisely onto a rack. When one’s battery depleted, another autonomously approached to initiate charging.

    With a height of an average Chinese man, these UBTECH’s Walker S1 humanoid robots offer a glimpse into the future of China’s manufacturing sector — a new wave of automation promising to boost productivity while replenishing the shrinking pool of human workers.

    GO TO FACTORIES

    Over the past few months, Chinese startup teams have been making waves on the global stage with robots that can perform impressive stunts such as dance routines, backflips and Tai Chi.

    Beyond the spotlight, however, some leading robotics firms have been focused on deploying them in factories for more practical jobs. They are joining the global race, led by Tesla Optimus, to integrate humanoid robots into manufacturing.

    Shanghai Kepler Robot Co., Ltd. recently released a video of its K2 humanoid robot working at a logistics plant. The robot skillfully navigated the factory floor, handling boxes, transporting goods and operating machinery.

    K2 is specifically designed to handle factory work. It has dual arms that can carry 30 kilograms, boasting an impressive eight-hour work cycle on a one-hour charge, said Hu Debo, CEO of Kepler, adding that the base price for its mass-produced version is only 30,000 U.S. dollars.

    “If a robot can perform a job as a human does and its cost is around 300,000 to 400,000 yuan (approximately 41,000 to 55,200 U.S. dollars), then it would be cost-effective enough to be deployed,” said Xu Jun, head of the innovation technology department at Geely, Zeekr’s parent company.

    Humanoid robots initially found their application in China’s automotive manufacturing sector, driven by the industry’s high level of digitalization.

    “Automotive manufacturing is one of the most technologically advanced, intelligent, standardized, and data-driven fields in manufacturing, making it an ideal environment for humanoid robots,” said Xu.

    The robot density has hit 470 units per 10,000 workers in China’s manufacturing industry. Over the coming years, the sector is expected to send more intelligent robots to the shop floor.

    UBTECH founder Zhou Jian announced that the firm’s goal for this year is to manufacture approximately 1,000 humanoid robots, which are set to be deployed in real-world applications to collect more data.

    “Application in the manufacturing sector is our priority,” Zhou said.

    NOT ABOUT REPLACEMENT

    China’s push for humanoids stems from their potential to bridge the gap left by traditional industrial robots. While industrial robots excel in speed and load-bearing capacity with their pre-programmed, set-path motions, humanoids powered by AI-augmented learning boast greater adaptability.

    “Moreover, the large size of industrial robots prevent them from accessing confined spaces like vehicle cabins,” explained Xu, adding that humanoids are not intended as replacements of earlier iterations of industrial robots.

    Additionally, the “machine-for-human” transition in China’s coastal manufacturing plants has proven to be less alarming than initially feared.

    “What’s really happening in our industry isn’t that there are many people lining up to work in factories,” said Xu. “The real problem is a labor shortage, especially when production scales up. We simply can’t find enough workers.”

    “Widespread use of humanoid robots could replace humans in hazardous, repetitive, and dull jobs, potentially solving future labor shortages,” said Xiong Rong, director of a humanoid robotics innovation center in Zhejiang.

    K2 can achieve the same level of output as 1.2 to 2 people in simple and repetitive factory tasks. “Given the labor costs in the Yangtze River Delta, manufacturers can recoup their investment in this robot in just 1.5 to 1.8 years,” said Hu.

    However, humanoid robots still lag in efficiency for complex tasks.

    “Their overall efficiency is about 70 percent of skilled workers’ and they cannot perform complex tasks like precision screw-tightening done by senior technicians,” said Leng Xiaokun, founder of Leju Robot. The Shenzhen-based firm has trained its robots in several automotive plants to perform box-handling and parts-sorting tasks.

    A Shanghai startup has sent its robots to a “technical school”. In AgiBot’s 4,000-square-meter space, scenes like restaurants, bubble tea shops, and homes are set up.

    Over a hundred data collectors, wearing VR glasses and holding controllers, are teaching robots daily chores like folding clothes, clearing dishes, cleaning tables and cashiering in supermarkets. Each action is repeated hundreds of times by the robots.

    “Robots have to interact with tangible objects in a 3D world, as such data can’t be obtained from the Internet,” said Peng Zhihui, AgiBot’s co-founder.

    Meanwhile, the Beijing-based robotic firm Galbot is exploring an alternative training method: using synthetic simulation data to train robots. The startup has amassed tens of millions of scene data and billions of action data, according to its founder Wang He.

    WHY IN CHINA?

    China is positioning itself as a powerhouse not just in developing these robots but also in creating an ecosystem for their deployment.

    It came as the country has been driving manufacturing digitalization and intelligent transformation, aiming to leverage these technological upgrades to sustain economic growth.

    This year’s government work report proposed advancing the “AI Plus” initiative to integrate cutting-edge digital technologies with the nation’s strong manufacturing base and vast market advantages. It has also planned to develop future industries like embodied intelligence and other next-gen technologies.

    At an industrial park in the southern tech hub of Shenzhen, the tightly-knit robotics ecosystem enables seamless collaboration. PaXini Tech supplies tactile sensors to nearby UBTECH, while DexForce streams simulation data directly to AI2Robotics for real-time AI training.

    A recent Morgan Stanley report, “Humanoid Robot 100: Mapping the Humanoid Robot Value Chain,” has highlighted that Asian companies constitute 73 percent of the top 100 listed firms in this sector, with Chinese firms alone accounting for 56 percent.

    China’s startups are “benefiting from established supply chains, local adoption opportunities and strong degrees of national government support,” according to the report.

    Now, cities like Beijing, Shanghai and Shenzhen have established substantial industry funds. In the first quarter of this year, over 50 embodied intelligence firms secured over 6 billion yuan in funding, according to data of IT Juzi, an emerging technology data provider.

    A key feature of China’s electric vehicle industry is that it has integrated the consumer electronics supply chain, said Li Zexiang, founder of the XBot Park in southern city of Dongguan. “The embodied intelligence industry, exemplified by humanoid robots, is now following suit.”

    “China has the potential to replicate the disruptive impact from the EV industry in the humanoid space,” Reyk Knuhtsen, analyst at SemiAnalysis, told CNBC.

    “The influx of humanoid robots into factories will not only boost productivity but also create new industries, giving rise to new industrial chains and job opportunities,” said Xu. 

    MIL OSI China News –

  • MIL-OSI: Best Crypto Casinos 2025: Top Bitcoin Casino Sites Recommended By NextCasinos

    Source: GlobeNewswire (MIL-OSI)

    ANCHORAGE, Alaska, May 16, 2025 (GLOBE NEWSWIRE) — NextCasinos, a trusted platform for independent casino rankings, has released its latest editorial guide on the best crypto casinos for 2025, available here.

    “Crypto casinos are a game-changer, but not all are created equal,” said a NextCasinos spokesperson. “Our guide spotlights the best crypto casinos that combine fast approvals, diverse games, and player-friendly bonuses, ensuring a safe and thrilling experience.”

    Our editorial team reviewed dozens of the best Bitcoin casinos, selecting five that excel in key areas: payout speed, game variety, bonus value, accessibility, and customer support. These platforms—JACKBIT, 7Bit Casino, BitStarz, KatsuBet, and MIRAX Casino—stand out for their innovation and reliability.

    Featured Crypto Casinos and Their Top Bonuses

    • JACKBIT: 30% Rakeback + No KYC + 100 Free Spins (Wager-Free)
    • 7Bit Casino: 325% up to 5.25 BTC and 250 Free Spins
    • BitStarz: $500 or 5 BTC plus 180 Free Spins
    • KatsuBet: 325% up to 5 BTC and 200 Free Spins
    • MIRAX Casino: 325% up to 5 BTC and 150 Free Spins

    Read the full guide on NextCasinos about the 5 Best Crypto Casinos for 2025

    Why People Use Crypto Casinos

    Crypto casinos are short-term gambling platforms that leverage cryptocurrencies like Bitcoin and Ethereum, offering distinct advantages over traditional online casinos. Common reasons players choose the best crypto casinos include:

    • Privacy and Anonymity: No KYC policies allow anonymous play, protecting user identity.
    • Fast Transactions: Instant deposits and withdrawals, often within minutes, compared to days for fiat methods.
    • Lower Fees: Minimal or no transaction fees, maximizing player funds.
    • Global Accessibility: Play from anywhere without currency conversion hurdles.
    • Exclusive Bonuses: Higher bonus values due to lower operational costs.

    While crypto casinos may carry risks like market volatility, their speed, security, and rewards make them a popular choice for players seeking a modern, new crypto casino experience.

    What Makes a Good Crypto Casino?

    The NextCasinos team assessed crypto gambling sites using five key criteria to identify the best crypto casino options:

    • Payout Speed and Efficiency: How quickly are withdrawals processed, especially for cryptocurrencies?
    • Game Variety and Quality: Does the casino offer a diverse, high-quality game library from reputable providers?
    • Bonus Value and Fairness: Are bonuses generous with transparent, reasonable terms?
    • Security and Licensing: Is the platform licensed, with robust encryption and provably fair games?
    • Customer Experience: How responsive is support, and how user-friendly is the platform across devices?

    These criteria helped us filter out predatory or unreliable platforms, ensuring our recommendations are trustworthy best Bitcoin casinos.

    Breakdown of Each Crypto Casino and Why It Was Selected

    Best Overall Crypto Casino: JACKBIT

    What It Is: A leading new crypto casino offering anonymous gaming with no KYC requirements.

    Why It Stood Out: JACKBIT combines a vast game library, instant withdrawals, and a no-KYC policy, making it the best crypto casino for players valuing privacy and speed. It’s a wager-free 100 free spins + no KYC welcome bonus, and diverse payment options further enhance its appeal.

    >> Get up to 100 free spins + no KYC Welcome Bonus

    Best for Huge Bitcoin Bonuses: 7Bit Casino

    What It Is: A veteran best Bitcoin casino with a hybrid crypto-fiat platform.

    Why It Stood Out: 7Bit’s 325% welcome bonus up to 5.25 BTC and 250 free spins, plus weekly promotions, make it a bonus hunter’s paradise. Its 10,000+ games and fast payouts solidify its position among top online casinos.

    >> Grab 325% up to 5.25 BTC and 250 free spins

    Best for Game Variety: BitStarz

    What It Is: An award-winning crypto gambling site with over 6,200 games.

    Why It Stood Out: BitStarz offers unmatched variety, from slots to exclusive BitStarz Originals, supported by 500+ cryptocurrencies and a bonus of up to $500 or a 5 BTC Bonus and 180 Free Spins. Its fast withdrawals and competitive tournaments make it the best crypto casino.

    >> Get up to $500 or 5 BTC Bonus and 180 Free Spins

    Best for Jackpot Lovers: KatsuBet

    What It Is: A new crypto casino launched in 2022, focusing on jackpot games.

    Why It Stood Out: KatsuBet’s 7,000+ games, including high-payout slots, and a 325% bonus up to 5 BTC with 200 free spins appeal to jackpot chasers. Its loyalty rewards add long-term value.

    >> Claim your 325% bonus to 5 BTC +200 Free Spins

    Best Crypto Casino for Beginners: MIRAX Casino

    What It Is: A beginner-friendly best crypto casino with a simple interface.

    Why It Stood Out: MIRAX’s demo modes, 7,000+ games, and 325% bonus up to 5 BTC with 150 free spins make it ideal for newcomers. Fast transactions and 24/7 support enhance accessibility.

    >> Claim 325% Bonus Up to 5 BTC with 150 Free Spins

    How the Rankings Were Determined

    NextCasinos’ methodology was thorough and player-focused:

    • Comprehensive Review: Analyzed dozens of crypto gambling sites across global platforms.
    • Criteria Comparison: Evaluated game variety, bonus terms, payout speeds, and security measures.
    • User Feedback: Studied testimonials and complaints on platforms like Trustpilot to gauge real-world experiences.
    • Transparency Check: Ensured clear disclosure of bonus terms, fees, and withdrawal policies.
    • Platform Testing: Assessed usability on desktop and mobile devices, focusing on navigation and performance.

    We prioritized the best crypto casinos licensed by reputable authorities like Curacao eGaming, ensuring player safety and fair play. This rigorous process filtered out unreliable platforms, delivering a guide to the best Bitcoin casinos players can trust.

    Responsible Gambling Is Key

    Gambling at best crypto casinos can be thrilling, but responsible play is essential to avoid financial or emotional harm. Consider these tips:

    • Set a Budget: Only wager what you can afford to lose, treating gambling as entertainment.
    • Understand Game Rules: Learn odds and strategies to make informed bets.
    • Take Regular Breaks: Avoid prolonged sessions to maintain control.
    • Avoid Chasing Losses: Accept losses as part of the game, not a reason to bet more.
    • Use Casino Tools: Set deposit limits, session timers, or self-exclusion options.
    • Seek Support: Contact organizations like GamCare or Gamblers Anonymous if gambling becomes problematic.

    Players should also review local gambling regulations, as laws vary widely and may impact access to crypto gambling sites.

    Why These Rankings Matter

    In the fast-paced world of online gambling, choosing the right best crypto casino can make or break your experience. The wrong platform may lead to slow payouts, unfair terms, or security risks. NextCasinos’ guide prioritizes transparency, speed, and player satisfaction, empowering you to select a best Bitcoin casino that aligns with your needs, whether it’s JACKBIT’s privacy, 7Bit’s bonuses, or BitStarz’s variety.

    “This guide isn’t about pushing gambling—it’s about helping players make smart choices,” said the NextCasinos team. “We want you to enjoy the thrill safely and confidently.”

    Where to Read the Full Guide

    The complete crypto casino rankings, including detailed comparisons, game breakdowns, and player tips, are available on NextCasinos: 5 Best Crypto Casinos for 2025.

    Frequently Asked Questions About Crypto Casinos

    What makes JACKBIT the best crypto casino in 2025?

    JACKBIT stands out as the best crypto casino with its no-KYC policy, ensuring privacy, and fast payouts within minutes. It’s 7,000+ games, including slots and sports betting, plus 100 wager-free free spins, make it a top choice for crypto gambling sites.

    Are crypto casinos safe for online gambling?

    Licensed best Bitcoin casinos like 7Bit Casino use SSL encryption and provably fair games, ensuring safety. Always choose platforms with reputable licenses, like Curacao eGaming, to protect your funds and data on crypto gambling sites.

    How fast are withdrawals at top crypto casinos?

    Best crypto casinos like BitStarz offer instant crypto withdrawals, often within minutes, for fast payouts. Fiat withdrawals may take 1-3 days. Check each new crypto casino’s policy to confirm processing times for seamless real money gaming.

    Can I play anonymously at crypto casinos?

    Yes, crypto gambling sites like JACKBIT offer no-KYC options, allowing anonymous play for enhanced privacy. This feature is ideal for players avoiding identity verification, though some online casinos may require it for larger transactions.

    What are no deposit bonuses in crypto casinos?

    No deposit bonuses let players try games without funding, common in new crypto casinos. While rare, some best crypto casinos offer free spins or small credits, allowing real money wins with specific wagering terms.

    Why choose crypto casinos over traditional ones?

    Best crypto casinos provide fast payouts, lower fees, and privacy via cryptocurrencies. Unlike traditional online casinos, they offer global access and exclusive bonuses, making platforms like KatsuBet ideal for modern real money gambling.

    What games are available at top crypto casinos?

    Best Bitcoin casinos like MIRAX offer game variety, including slots, blackjack, roulette, live dealers, and sports betting. With 7,000+ titles, these crypto gambling sites cater to all preferences, ensuring engaging real money experiences.

    How do I start playing at a crypto casino?

    To join a top crypto casino like 7Bit, sign up with an email, deposit cryptocurrencies like Bitcoin, and claim bonuses. Explore game variety on crypto gambling sites, ensuring you understand the terms for real money play.

    Contact Data

    For more information, contact us at support@nextcasinos.com or visit NextCasinos.

    Email: support@nextcasinos.com

    General Disclaimer

    This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews as of writing. No warranties are made, and users must verify information before acting.

    Casino and Gambling Disclaimer

    Online gambling carries risks and isn’t for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. NextCasinos is a third-party platform, and we’re not liable for losses or disputes.

    Affiliate Disclosure

    This article may include affiliate links, earning us a commission at no cost to you for qualifying actions. These support our content. Our reviews are unbiased, and we recommend only valuable products.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/80d3c7cb-b50c-4376-9233-b72b229f7531

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f38e4ea9-0dab-4764-865b-b82ebde45f99

    https://www.globenewswire.com/NewsRoom/AttachmentNg/eac9bc03-faea-408a-8afb-e125f35dfc3f

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b68bad78-ca3a-4ff6-8e51-5ffb6e13247b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/8fcef80d-023a-484d-9a08-e88f143973ef

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ccbd1b65-8af0-4bbf-a800-a12fd6160ffc

    The MIL Network –

  • MIL-OSI Russia: Tel Aviv hosts business event aimed at developing Chinese-Israeli cooperation in healthcare

    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

    JERUSALEM, May 16 (Xinhua) — A business event aimed at promoting cooperation between Chinese and Israeli enterprises in the healthcare sector was held in Tel Aviv, Israel on Thursday.

    The event, hosted by the China-Israel Innovation Industrial Park in Changzhou, eastern China, was attended by more than 100 representatives from government, business, technology and medical sectors from both countries. During the event, Chinese and Israeli companies signed technology cooperation agreements, and several Israeli firms entered into agreements to join the innovation park.

    Speaking at the event, Chinese Ambassador to Israel Xiao Junzheng stressed that technological innovation is a key factor in the healthy development of China-Israel relations.

    China, with its vast single market, comprehensive industrial system and growing innovation ecosystem, complements Israel’s strengths in original research and its excellent innovation environment, he said.

    Over the past decade, the park has become a “key window” for Chinese-Israeli scientific cooperation, especially in health care, according to Shen Dong, a senior official in the city of Changzhou. He noted that the park has attracted about 300 Israeli companies and joint ventures. –0–

    MIL OSI Russia News –

  • MIL-OSI Australia: Updated information about global and domestic minimum tax

    Source: New places to play in Gungahlin

    We’ve published updates on our website about key aspects of the global and domestic minimum tax.

    The updates follow on from the royal assent of the primary legislation, and the subordinate legislation being registered as a legislative instrument.

    Our website information is designed to help taxpayers who may be in-scope of Pillar Two to meet their obligations, as first lodgments are due by 30 June 2026.

    The global and domestic minimum taxes are a key part of the Organisation for Economic Co-operation and Development’s coordinated global approach to prevent a ‘race to the bottom’ on corporate tax rates.

    What the website updates cover

    Our website information now includes:

    • guidance about how we’ll administer potential amendments to Australian law to address inconsistencies
    • an overview of the mechanics for calculating top-up tax
    • additional information on how the rules apply, including in respect of specific entities
    • additional information and examples about lodgment, payment and record-keeping obligations
    • how Pillar Two interacts with other provisions and how it applies.

    Moving forward

    Through our consultation with the Pillar Two Global and Domestic Minimum Tax Working Group, we’ve been considering the need for, and prioritising the development of, formal and informal guidance for the market. We’re also updating existing guidance that may be affected by the introduction of this measure.

    We’ll continue to update our website with more information over the coming months.

    To provide feedback on priority issues your organisation is facing, or if you have any questions about the Australian Pillar Two rules, you can contact us via the Pillar 2 mailbox.

    Keep up to date

    We have tailored communication channels for medium, large and multinational businesses, to keep you up to date with updates and changes you need to know.

    Read more articles in our online Business bulletins newsroom.

    Subscribe to our free:

    • fortnightly Business bulletins email newsletterExternal Link
    • email notifications about new and updated information on our website – you can choose to receive updates relevant to your situation. Choose the ‘Business and organisations’ category to ensure your subscription includes notifications for more Business bulletins newsroom articles like this one.

    MIL OSI News –

  • MIL-OSI Security: California Woman Sentenced to Federal Prison for Stealing Nearly $2 Million in Two Separate Fraud Schemes

    Source: Office of United States Attorneys

    PORTLAND, Ore.—A California woman was sentenced to federal prison today for stealing nearly $1.3 million in Covid-relief program funds and failing to pay the IRS more than $700,000 in payroll taxes she collected from the employees of a small business in Salem, Oregon.

    Jamie McGowen, 43, was sentenced to 37 months in federal prison and five years’ supervised release. She was also ordered to pay $2,072,860 in restitution to the IRS and U.S. Small Business Administration (SBA).

    According to court documents, McGowen was the owner or partial owner of nine separate companies including Salem Outsourcing, Inc., a payroll processing company based in Salem. Between August 2016 and December 2019, McGowen provided payroll processing services to a small business also located in Salem. During this time, she failed to pay the IRS $705,613 in payroll taxes she withheld from the paychecks of the company’s employees. Instead, McGowen kept the money for herself and used a portion of the funds to, among other things, purchase a 100% ownership stake in the same company whose payroll taxes she had stolen.

    In a separate scheme, between April 2020 and December 2021, McGowen stole more than $1.2 million from federal relief programs intended to help small businesses during the Covid-19 pandemic, including the Paycheck Protection Program, Economic Injury Disaster Loan program, and Restaurant Revitalization Fund. McGowen made numerous false statements in 15 separate loan applications, including by stating she did not own any other company, inflating the number of employees and revenues, and providing false tax documents. McGowen also falsely claimed on loan forgiveness applications that her companies had used the funds received for payroll. In reality, McGowen transferred the money around her businesses, to her father, and to her personal checking account, and paid off personal credit cards.

    On October 12, 2022, a federal grand jury in Portland returned a seven-count indictment charging McGowen with wire fraud, bank fraud, and money laundering. On December 11, 2024, she pleaded guilty to one count each of wire fraud and bank fraud, and two counts of money laundering.

    This case was investigated by the SBA Office of Inspector General (SBA-OIG) and IRS Criminal Investigation (IRS-CI). It was prosecuted by Meredith Bateman, Assistant U.S. Attorney for the District of Oregon.
     

    MIL Security OSI –

  • MIL-OSI: Young people are concerned they lack the green skills to effectively act on climate change

    Source: GlobeNewswire (MIL-OSI)

    Capgemini Press contact: 
    Sereydana Oum
    Tel.: +33 6 61 42 03 59 
    Email: sereydana.oum@capgemini.com

    UNICEF Press contact:
    Anupama Saikia
    E-mail: ansaikia@unicef.org

    Young people are concerned they lack the green skills
    to effectively act on climate change

    Six in ten 16–24-year-olds globally agree that developing green skills could open up new career opportunities but less than half (44%) possess the skills required for today’s green workforce

    Paris, May 16, 2025 – The Capgemini Research Institute and UNICEF* Generation Unlimited’s report, ‘Youth perspectives on climate: Preparing for a sustainable future’ published today, explores youth perspectives on the climate crisis. It includes their take on “green skilling” and graduating to a green job, as well as how business and government can collaborate with young people to inspire climate advocacy. The report finds that despite rising climate anxiety, a majority of young people remain hopeful that there is still time to address and fix the problems caused by climate change. Young people in both, the Global South and Global North, want to be a part of the solution, with most interested in shaping environmental policy and many interested in pursuing a green job, however the report highlights a worrying lack of requisite green skills.

    According to the research, most young people worry about climate change. Over two-thirds of youth globally say they are concerned about how climate change could affect their future, representing an increase since 2023, when a UNICEF USA survey found that 57% of youth globally experienced “eco-anxiety.”1 Youth in the Global North report higher levels of climate-related anxiety (76%) compared to their peers in the Global South (65%). A rural-urban divide is also evident, with 72% of youth living in urban and suburban areas expressing concern about climate change impacts on their future, versus 58% in rural areas.

    Young people believe there is still time to fix the problems caused by climate change
    Despite their climate anxiety, most youths believe green skills are key to a brighter future, with 61% agreeing that developing green skills2 will offer them new career opportunities. They are interested in aligning their paid employment with their climate conscious values, with slightly over half (53%) globally and almost two-thirds (64%) in the Global North interested in a green job.

    “Young people across the globe, and in particular in the US, are hyperaware of the urgent challenges posed by climate change. It’s clear that they are also eager to be part of the solution,” said Sarika Naik, Group Chief Corporate Responsibility Officer at Capgemini. “We need to help young people turn their passion into impact by investing in green skills. This report shows how critical it is that business, governments, and education leaders work together to bridge the skills gap, empower youth voices, and create pathways to meaningful green careers.”

    “Young people are architecting climate solutions. They are designing and deploying innovative solutions that respond to the climate realities their communities are facing,” said Dr. Kevin Frey, CEO, Generation Unlimited at UNICEF. “Green Rising, with its ecosystem of public and private sector partners, is supporting young people with the skills and opportunities they need to take climate action, start green companies, access green jobs and power green solutions.”

    Youth lack the necessary green skills
    Young people provide a workforce pipeline for tackling climate change, but the green transition requires a skilled workforce. According to the Organization for Economic Co-operation and Development (OECD), environmental sustainability competency relies on a strong foundation in science, an understanding of climate change, a commitment to protect the environment, the confidence to explain environmental issues, and the motivation to act sustainably3.

    However, the report finds that less than half of youth globally (44%) believe they have the green skills necessary to be successful in today’s workforce. In terms of green skills, young people in rural areas lag even further behind young people in suburban and urban areas. This percentage also differs across regions. In the Global South, around six in ten Brazilian youth say they are equipped with green skills, while only 5% of Ethiopian youth say the same.

    Since the Capgemini Research Institute’s 2023 research4, youth in several countries in the Global North have regressed in their knowledge of green skills. Among youth aged 16 to 18 in Australia, France, Germany, Japan, the UK, and the US, recycling and waste reduction remains the most commonly held green skill. But the share of youth knowledgeable about sustainable design, sustainable energy, and sustainable transportation has significantly declined since 2023. In the Global South, young people are most knowledgeable about recycling and waste reduction, energy conservation and water conservation, but least knowledgeable about climate technologies, data analysis, and sustainable design.

    The generational divide must be overcome to find solutions
    Most youth globally (71%) agree that they should have a strong influence on environmental policy and legislation. However, the majority agree that business and political leaders are not playing their part and should be contributing more to the fight against climate change. While almost two-thirds of young people feel engaged enough to want to speak with local leaders about climate action, fewer than half believe their opinions are actually heard by community leaders.

    The report urges community leaders to support young people in advancing climate solutions and green skills. According to the report, integrating green education, expanding access to training, and aligning climate goals with youth employment strategies should be part of the solution and implanted by policymakers. Whereas corporate leaders could be encouraged to co-create green job pathways, invest in youth-led initiatives, and embed young voices in CSR, ESG, and climate strategies in order to build trust and drive sustainable innovation.

    As young people seek to upskill, global movements like Green Rising aim to support 20 million young people by 2026 in taking grassroots action, offering opportunities for volunteerism, advocacy, paid work and entrepreneurship. This initiative is led by Generation Unlimited at UNICEF and supported by the public and private sector, including Capgemini.

    To read the full report: https://www.capgemini.com/insights/research-library/global-youth-and-sustainability

    Report Methodology
    The Capgemini Research Institute carried out extensive research into youth perspectives on climate change and interest in green skills and green jobs in February and March 2025. They conducted an online survey of 5,100 youth aged 16 to 24 across 21 countries in Africa, the Americas, Asia-Pacific, and Europe. This included 4,394 youth aged 18 to 24 and 706 youth aged 16 and 17 years old. For the 14% of the sample that were minors (<18 years old), they obtained parental permission from 706 parents. The majority (83%) of the youth surveyed live in the Global South (low- and middle-income countries).5 The remaining youth respondents live in the Global North or high-income countries.

    About UNICEF
    UNICEF works in some of the world’s toughest places, to reach the world’s most disadvantaged children. Across more than 190 countries and territories, we work for every child, everywhere, to build a better world for everyone.

    About Generation Unlimited
    Launched by the UN Secretary-General at the 2018 UN General Assembly, UNICEF’s Generation Unlimited is a leading global Public-Private-Youth Partnership on a mission to skill and connect the world’s 1.8 billion young people to opportunities for employment, entrepreneurship, and social impact. The partnership brings together global organisations and leaders including Heads of State, CEOs, Heads of UN agencies, and civil society champions with young people to co-create and deliver innovative solutions on a global scale.

    * UNICEF does not endorse any company, brand, product or service

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.
    Get The Future You Want | www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.

    Visit us at https://www.capgemini.com/researchinstitute/

    1 UNICEF USA, “From eco-anxiety to eco-optimism, listening to a generation of resilient youth,” January 2023.
    2 Green skills refer to the hard and soft skills which help people take care of nature, stop pollution, and use resources wisely.
    3 OECD, Skills Outlook 2023: Skills for a resilient green and digital transition, November 6, 2023.
    4 CRI, Digital skills and technology in secondary education survey, March 2023
    5 Bank Group, Income Group Class, according to 2023 gross national income (GNI) per capita, calculated using the World Bank Atlas method.

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    The MIL Network –

  • MIL-OSI Asia-Pac: Japanese handcrafted eyewear brand Kaneko Optical upgrades Hong Kong office to international headquarters with new concept store opening (with photos)

    Source: Hong Kong Government special administrative region

    Japanese handcrafted eyewear brand Kaneko Optical upgrades Hong Kong office to international headquarters with new concept store opening  
         The Acting Director-General of Investment Promotion at InvestHK, Mr Arnold Lau, said, “We are delighted to see the expansion of Kaneko Optical in Hong Kong, just five months after its first launch in the city. It shows confidence not only in Hong Kong’s status as a global hub for international brands but also in our advantages as a global supply chain management hub.”
     
         The Chief Executive Officer of Japan Eyewear Holdings Hong Kong and Japan Eyewear Holdings International, and Director & Head of Global Operations of Kaneko Optical, Mr Toru Akita, indicated that Hong Kong is not only a retail market for the company but also a strategic hub for its international supply chain.
     
    Mr Akita said, “Our Hong Kong office will serve as an international headquarters spearheading the brand’s overseas branding and merchandising operations, including our existing wholesale destinations in over 20 countries, as of the end of 2024. In addition, it will gradually take charge of the company’s international sales development and corporate treasury management outside of Japan.”
     
    He added, “Hong Kong has a rich variety of retail scenarios that we want to tap into. The new concept store in Tsim Sha Tsui, which is our largest presence outside of Japan, will open up new business ties at emerging markets through the growing number of ASEAN, Middle East tourists.”
     
    He explained, “One thing we learned after launching our first concept store in Central is the brilliant mix of high-net worth professionals from different parts of the world. Their spending habits and preferences fit well with our market position, and our brand image gets to spread wide through their international networks.”
     
    Founded in 1958 as an eyeglass wholesaler, Kaneko Optical has become a recognised trendsetter in the Japanese eyewear industry. With its own planning, design, and sales of eyewear brands, it actively collaborates with major collections and apparel manufacturers to create original brands.
     
    For more information about Kaneko Optical, please visit www.kaneko-optical.co.jp/en 
    To get a copy of the photo, please visit     www.flickr.com/photos/investhk/albums/72177720326093396Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Black Castle Capital Partners Ltd Clarifies No Affiliation with Black Capital Partners

    Source: GlobeNewswire (MIL-OSI)

    LONDON, May 16, 2025 (GLOBE NEWSWIRE) — Black Castle Capital Partners Ltd, a London-based boutique consultancy specialising in helping companies with investor introductions across private equity, venture capital, and real estate, today issued a public clarification regarding its independent status and operations.

    The announcement follows ongoing market enquiries and online search activity that has led to confusion between Black Castle Capital Partners Ltd and another similarly named entity, Black Capital Partners. It has come to their attention that recent online searches such as “Black Castle Capital Reviews” have inadvertently associated Black Castle Capital Partners Ltd with unrelated content pertaining to Black Capital Partners, while these are entirely separate businesses with no shared ownership, leadership, or operational overlap.

    The clarification aims to support market transparency, ensure accurate information for investors and partners, and reaffirm the distinct position of Black Castle Capital Partners Ltd in the consultancy space.

    Statement from the CEO. 

     “We regret the confusion caused by this naming similarity and urge clients, partners and the public to verify information directly through our official channels. We welcome due diligence and our track record speaks for itself,” said Richard Diaz, CEO at Black Castle Capital Partners Ltd. 

    Background: Distinguishing Two Independent Companies

    Recent market enquiries have highlighted instances where Black Castle Capital Partners Ltd have been mistakenly associated with Black Capital Partners, a totally unrelated entity with separate leadership, branding, and business objectives. 

    Why the Distinction Matters 

    • Black Castle Capital Partners Ltd operates independently from Black Capital Partners and any similarly named entities. 
    • Black Castle Capital Partners Ltd is registered with Companies House Number 10635644 under UK law. 
    • Clear distinction between entities helps avoid unnecessary confusion among investors and partners.
    • Avoiding confusion helps uphold brand integrity and informed decision-making.

    About Black Castle Capital Partners Ltd 

    Black Castle Capital Partners Ltd is a boutique consultancy company based in London. The company was founded in 2017 by CEO and Founder, Richard Diaz, to provide bespoke solutions for entrepreneurs, growth-stage companies and institutional investors working alongside venture capital, private equity and strategic capital. 

    The company partners with visionary founders and disruptive businesses to unlock long-term value. 

    With a lean, hands-on approach, Black Castle Capital Partners Ltd distinguishes itself through sector-agnostic expertise, targeting high-potential opportunities in technology, real estate and emerging markets. The team offer not just help in securing capital through its introductory services but strategic guidance, network access and operational support.

    Headquartered in London, Black Castle Capital Partners Ltd prides itself on flexibility, discretion and alignment of interests with its partners, high-net-worth individuals and institutional investors. The company’s ethos revolves around building relationships ensuring each engagement is tailored to the unique ambitions of its partners.

    For Accurate Information: 

    Website: www.blackcastlecapital.co.uk 

    Contact: admin@blackcastlecapital.co.uk | +44 (0)207 099 8877 

    Address: Black Castle Capital Partners Ltd, 48 Charles Street, Mayfair, London, W1J 5EN 

    Company House registration no: 10635644

    The MIL Network –

  • MIL-OSI: Annual General Meeting of 17 June 2025

    Source: GlobeNewswire (MIL-OSI)

    SOLUTIONS 30 SE (the Company) informs its shareholders that its annual general meeting (General Meeting) will be held on 17 June 2025 at 2:30 p.m. (Luxembourg time) at Sofitel Luxembourg Europe, 6 rue du Fort Niedergruenewald, L-2226 Kirchberg, Luxembourg. The General Meeting will be video broadcasted live, through the Company’s website.

    The convening notice (Convening Notice) detailing the agenda of the General Meeting was published in the Recueil Electronique des Sociétés et Associations (RESA) as well as in the Tageblatt, on 16 May 2025. The procedures for voting at this General Meeting are set out in the Convening Notice.

    This Convening Notice together with all ancillary documents and preparatory information relating to the General Meeting are available to shareholders on the Company’s website at https://solutions30.com/general-meeting/ where they can be consulted and downloaded.

    For any further information, please:

    • visit the Investor Relations / General Meetings section of the website: https://www.solutions30.com where all relevant documents are available,
    • or contact the Company by email at the following address: investor.relations@solutions30.com.


    About Solutions30 SE

    Solutions30’s mission is to make the technological developments that are transforming our daily lives accessible to everyone, individuals and businesses alike, especially with regard to the digital transformation and the energy transition. With its network of more than 16,000 technicians, Solutions30 has completed over 65 million call-outs since its inception and led over 500 renewable energy projects with a combined maximum output surpassing 1800 MWp. Every day, Solutions30 is doing its part to build a more connected and sustainable world. Solutions30 has become an industry leader in Europe with operations in 10 countries: France, Italy, Germany, the Netherlands, Belgium, Luxembourg, Spain, Portugal, the United Kingdom, and Poland. The capital of Solutions30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised. Solutions30 SE is listed on the Euronext Paris exchange (ISIN FR0013379484- code S30). Indices : CAC Mid & Small | CAC Small | CAC Technology | Euro Stoxx Total Market Technology | Euronext Tech Croissance.

    Visit our website to learn more: www.solutions30.com

    Contact

    Individual Shareholders:

    actionnaires@solutions30.com – Tel: +33 1 86 86 00 63

    Analysts/Investors:
         investor.relations@solutions30.com

    Press – Image 7:
     Charlotte Le Barbier – Tel: +33 6 78 37 27 60 – clebarbier@image7.fr

    Attachment

    The MIL Network –

  • MIL-OSI: Richemont publishes FY25 Annual Report and Accounts

    Source: GlobeNewswire (MIL-OSI)

    AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
    16 MAY 2025

    RICHEMONT PUBLISHES FY25 ANNUAL REPORT AND ACCOUNTS

    Richemont has today published its Annual Report and Accounts for the year ended 31 March 2025.

    The Annual Report includes the Chairman’s review to shareholders, the annual consolidated and statutory financial statements, and the corresponding audit reports. It reflects the information provided in Richemont’s full-year 2025 results announcement issued today.

    Richemont expects to publish the combined Annual Report with the Compensation Report, the Corporate Governance Report and the Business review for the year ended 31 March 2025, on 5 June 2025. At that time, it will also publish the Group’s Non-Financial Report 2025.

    The Annual Report is available for download on the Company’s website at
    https://www.richemont.com/media/ue1bjrjv/richemont-fy25-annual-report-en.pdf.  

    About Richemont

    At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

    Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. Find out more at https://www.richemont.com/.

    Richemont A shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont A shares are listed on the Johannesburg Stock Exchange, Richemont’s secondary listing. 

    Investor/analyst and media enquiries
    +41 22 721 3003 (investor relations)
    Investor.relations@cfrinfo.net
    +41 22 721 3507 (media)
    pressoffice@cfrinfo.net
    richemont@teneo.com

      
    Click here for a printer-friendly version in English (PDF)

    The MIL Network –

  • MIL-OSI: Richemont posts robust performance for the year ended 31 March 2025

    Source: GlobeNewswire (MIL-OSI)

    AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
    16 MAY 2025

    Please find below the Highlights and Chairman’s commentary from Richemont FY25 Annual Results Announcement.

    RICHEMONT POSTS ROBUST PERFORMANCE FOR THE YEAR ENDED 31 MARCH 2025

    Group highlights

    • Group sales at € 21.4 billion; Q4 sales up 8% (+7% constant) with Jewellery Maisons up at double digits
    • Operating profit at € 4.5 billion including € 72 million of non-recurring costs 
    • Sustained focus on nurturing Maisons’ growth, investing in distribution, manufacturing assets and craftsmanship  
    • Renewed executive leadership, with appointment of Group CEO and expansion of Senior Executive Committee expertise to include Van Cleef & Arpels and Cartier CEOs, as well as dedicated Group Chief People Officer
    • Completion of key strategic steps, with the addition of Italian jewellery Maison Vhernier and the finalisation of the sale of YNAP to Mytheresa in April 2025; Richemont now holds a 33% stake in newly created LuxExperience  

    Financial highlights

    • Full year sales up 4% at actual and constant exchange rates, led by high single-digit increase at Jewellery Maisons 
    • Double-digit growth across all regions, except for Asia Pacific, further rebalancing the Group’s regional mix
    • Operating profit down by 7%, or by 4% at constant exchange rates, resulting in a 20.9% operating margin
      • Strong performance at Jewellery Maisons, with sales up 8% at actual and constant exchange rates; operating margin at 31.9%
      • Sales at Specialist Watchmakers lower by 13% at actual and constant exchange rates, leading to a 5.3% operating margin
      • ‘Other’ business area’s sales up 7% at actual and constant exchange rates, operating margin at -3.7%; Fashion & Accessories Maisons margin impacted by inventory provisioning
    • € 3.8 billion profit for the year from continuing operations; € 1.0 billion loss from discontinued operations mainly due to the non-cash write-down of YNAP (improved against € 1.3 billion communicated in H1)
    • Robust net cash position of € 8.3 billion, supported by € 4.4 billion cash flow generated from operating activities
    • Proposed increase in dividend to CHF 3.00 per 1 ‘A’ share / 10 ‘B’ shares

    Key financial data (audited)

      2025 2024 change
    Sales € 21 399 m € 20 616 m +4%
    Gross profit € 14 319 m € 14 036 m +2%
    Gross margin 66.9% 68.1% -120 bps
    Operating profit € 4 467 m € 4 794 m -7%
    Operating margin 20.9% 23.3% -240 bps
    Profit for the year from continuing operations € 3 762 m € 3 818 m -1%
    Loss for the year from discontinued operations € (1 012) m € (1 463) m  
    Profit for the year € 2 750 m € 2 355 m  
    Earnings per ‘A’ share/10 ‘B’ shares, diluted basis € 4.671 € 4.077   
    Cash flow generated from operating activities € 4 443 m € 4 696 m -€ 253 m
    Net cash position € 8 257 m € 7 450 m  

    Chairman’s commentary

    Overview of results
    Richemont delivered a robust performance for the financial year ended 31 March 2025. In a persistently uncertain macroeconomic and geopolitical environment, we maintained our focus on nurturing Maisons’ current and future growth, investing in our distribution network, manufacturing assets and quality craftsmanship. Group sales increased by 4% at actual and constant exchange rates to € 21.4 billion, led by high single-digit growth at the Jewellery Maisons over the year. Operating profit came in at € 4.5 billion, down by 7% at actual rates, or by 4% at constant exchange rates.

    After a resilient first half, sales performance accelerated in the second part of the year, with a 10% rise in the third quarter followed by +8% in the fourth quarter at actual exchange rates. Over the year, most regions grew at double digits at both actual and constant exchange rates, more than offsetting the decline in Asia Pacific, led by China, illustrating the value of our balanced regional footprint. Notable growth rates included Europe at +10%, the Americas at +16%, Japan at +25% and Middle East & Africa at +15% at actual exchange rates. Direct to client sales rose further driven by both retail and online, overall representing 76% of Group sales.

    Our Jewellery Maisons – Buccellati, Cartier, Van Cleef & Arpels and Vhernier since October – saw their sales reach € 15.3 billion, growing by 8% at actual and constant exchange rates. This sales increase, combined with disciplined operating costs and targeted price increases, helped mitigate the impact of higher raw materials costs, notably gold, on our profitability. Our Jewellery Maisons delivered a € 4.9 billion operating result, up 4% versus the prior year, corresponding to a solid margin at close to 32%.

    As discussed in our first half report in November, the global watch market experienced a slowdown affecting volumes. This was led by demand weakness in China, with greater resilience of high-end price segments. While the watch market remained subdued in the second half, some improvement was visible outside of China. In this challenging context, our Specialist Watchmakers reported a 13% decline in sales at actual and constant exchange rates over the year, impacted by their high exposure to Asia Pacific, particularly to China, while the other regions showed resilience. The rate of decline was softer in the second half of the year, with notable growth in the Americas. While the Maisons demonstrated discipline on operating expenses, the overall decline in sales had a significant impact on production and fixed operating costs absorption. In addition, with our headquarters and most of our production located in Switzerland, the strengthening Swiss franc weighed on our operating result. Consequently, the Specialist Watchmakers’ operating result was down to € 175 million for the year, corresponding to a 5.3% margin.

    Sales at our ‘Other’ business area reached € 2.8 billion, an increase of 7% at actual and constant exchange rates, underpinned by faster growth in the second half. All regions other than Asia Pacific grew, with notable double-digit performances in the Americas, Europe and Middle East & Africa. Alaïa recorded another year of strong growth, and Peter Millar maintained its solid momentum. Overall, ready-to-wear sales rose by double-digits across the Maisons, with notably an encouraging performance from Chloé. Operating result was a € 102 million loss for the year, resulting in a margin of -3.7%. Within this, Fashion & Accessories Maisons posted a -2% operating margin when excluding targeted inventory provisioning.

    At Group level, operating profit came in at € 4.5 billion, including € 72 million of non-recurring charges. Operating margin was 20.9%.

    Profit for the year from continuing operations reached € 3.8 billion, down by 1%. The overall profit for the year amounted to € 2.8 billion, up 17%, after taking into account a € 1.0 billion loss for the year from discontinued operations, primarily reflecting the write-down of the carrying value of YOOX NET-A-PORTER (‘YNAP’) assets in the context of the sale to Mytheresa.

    The Group maintained a robust balance sheet, with a net cash position of € 8.3 billion at year end, up € 807 million versus the prior year. It excludes YNAP’s net cash position of € 0.2 billion presented as assets and liabilities of disposal group held for sale.

    Strengthening of our operations and portfolio of Maisons
    We are delighted to have welcomed Italian jewellery Maison Vhernier as part of Richemont’s Jewellery portfolio during the year. Vhernier is renowned for the distinctive modern aesthetic of its creations, and we are now working on the Maison’s integration and development to ensure that its full potential can be realised over time, as we have effectively been doing with our Italian high-end shoe Maison Gianvito Rossi which celebrated its first anniversary as part of our Fashion & Accessories (‘F&A’) portfolio with a very encouraging performance.

    It is also a pleasure to report that G/FORE, previously under Peter Millar’s umbrella since its acquisition in 2018, was added to Richemont’s F&A portfolio as a distinct Maison in February 2025. This marks a significant milestone for the Maison, whose products are sold in top golf shops, resorts, department stores and dedicated retail boutiques, reflecting its remarkable success to date.

    On 1 June 2024, Nicolas Bos, formerly Chief Executive Officer (‘CEO’) of Van Cleef & Arpels, was appointed CEO of Richemont and joined the Senior Executive Committee (‘SEC’), with direct oversight of all the Maisons, functions and regions. On 14 February 2025, the SEC was further strengthened with the appointments of Marie-Aude Stocker as Chief People Officer, alongside Catherine Rénier (CEO, Van Cleef & Arpels) and Louis Ferla (CEO, Cartier). Marie-Aude’s extensive background in luxury HR will be important to address our strategic resource management needs, while Catherine and Louis bring invaluable operational insights from their respective leadership roles.

    Following his appointment as CEO of Specialist Watchmaker Maison Jaeger-LeCoultre, Jérôme Lambert stepped down from the SEC and the Board of Directors, whilst Boet Brinkgreve, CEO of Laboratoire de Haute Parfumerie et Beauté, stepped down from the SEC when leaving the Group at the end of April 2025.

    YOOX NET-A-PORTER (‘YNAP’) 

    The closing of the transaction for the sale of 100% of YNAP to leading luxury multi-brand digital group Mytheresa occurred just outside of our FY25 reporting period, on 23 April 2025, following fulfilment of customary conditions, including regulatory approvals.

    At transaction closing, Richemont sold YNAP to Mytheresa with a cash position of € 555 million and no financial debt in exchange for shares issued by Mytheresa representing 33% of the fully diluted share capital of the newly combined group which has been listed under the new trade name LuxExperience from 1 May 2025. As per the terms of the agreement, Richemont provided a € 100 million revolving credit facility to finance YNAP’s corporate needs.

    We look forward to LuxExperience’s future success, as the closing of the transaction paves the way for both the Mytheresa and YNAP teams, their brand partners and clients alike to fully benefit from the enhanced value propositions and expanded global reach offered by the combined businesses.

    Dividend

    Based upon the performance of the year and net cash position of € 8.3 billion at the end of March 2025, the Board proposes to pay an ordinary dividend of 3.00 Swiss francs per 1 ‘A’ share (and CHF 0.30 per ‘B’ share), a 9% increase in the ordinary dividend over the prior year, subject to shareholder approval at the Annual General Meeting (‘AGM’) on 10 September 2025.

    Annual General Meeting and Board changes

    The 2024 AGM in September saw Nicolas Bos, CEO of Richemont, elected as Executive Director of the Board, and Gary Saage as Non-executive Director, assuming the role of Chairman of the Audit Committee from Josua (Dillie) Malherbe.

    Shareholders also re-elected Wendy Luhabe as the ‘A’ shareholders’ representative and all Board members who stood for re-election for a further one-year term. Bram Schot succeeded Dillie as Non-executive Deputy Chairman of the Board and following the departure of Maria Ramos and Clay Brendish on 31 March, succeeded Clay as Chairman of the Compensation Committee.

    Once again, I would like to express my gratitude to Dillie for his contributions as Non-executive Deputy Chairman of the Board and Chairman of the Audit Committee and for accepting to remain on the Audit and Strategic Security Committees, and to Maria and Clay for their invaluable contributions in their respective roles over the years.

    As indicated in the 2022 Annual Report, recognising shareholder expectations, we decided at the time to initiate a comprehensive tender process for our external audit function under the supervision of the Audit Committee. Having carefully considered the results of the tender, on 29 November 2024 we announced that the Audit Committee had recommended to the Board to propose to shareholders that KPMG be appointed as the new auditors of the Company for the financial year ending 31 March 2026 at the next AGM in September 2025.

    Concluding remarks

    Fiscal Year 2025 was a year of progress underscoring the Group’s strategic focus amidst a complex, fast-evolving global landscape. Whilst our Specialist Watchmakers’ performance mostly reflected weakness in their largest region, the Group’s performance was robust overall, driven by remarkable growth at our Jewellery Maisons and retail, and improved momentum at our ‘Other’ activities.

    We continued to invest in future growth by further strengthening our distribution network, enhancing our manufacturing capacity, and contributing to the nurturing and preservation of unique artisan skills. We also delivered on several strategic fronts, successfully completing the acquisition of Vhernier, and enabling Gianvito Rossi to further expand its brand globally, after having joined the Group last year. We are also pleased to have found a good home for YNAP, whose strengths Mytheresa will harness to create a new global leader in digital luxury.

    With a renewed leadership team and governance structure, the completion of seamless management transitions across several Maisons, and our teams of talented professionals committed to creativity and innovation, we are well-positioned to guide Richemont through its next phase of development.

    As I have said before, ongoing global uncertainties will continue to require strong agility and discipline. Richemont has solid foundations for sustained value creation over time, built upon our leading Maisons’ unique heritage and innovative craftsmanship, coupled with an increasingly balanced and tailored regional presence that allows us to better connect with and enchant clients. Our long-term perspective, underpinned by a healthy balance sheet, constitutes a proven formula that has delivered seven-fold sales growth over the past 25 years, and remains central to our strategy.

    Our achievements this year would not have been possible without the unwavering dedication of our teams and the invaluable collaboration of our partners. I would like to extend my deepest gratitude to each of them for their significant contributions to Richemont’s success. I also wish to take this opportunity to thank our valued clients for their enduring trust and appreciation for the distinctive character and timeless appeal of our Maisons’ creations.

    Johann Rupert
    Chairman

    Compagnie Financière Richemont SA

    About Richemont 

    At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

    Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. Find out more at https://www.richemont.com/.

    Disclaimer

    This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Richemont’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumer traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers’ desire to travel to our retail stores. International conflicts or wars, including resulting sanctions and restrictions on importation and exportation of finished products and/or raw materials, whether self-imposed or imposed by international countries, non-state entities or others, may also impact these forward-looking statements. If international tariffs are imposed or increased, materials and goods that Richemont imports may face higher prices, which could lead to reduced margins or increased prices that could cause decreased consumer demand. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control. Richemont does not undertake to update, nor does it have any obligation to provide updates of, or to revise, any forward-looking statements.

    © Richemont 2025

    This announcement does not contain full details and should not be used as a basis for any investment decision in relation to the Company’s shares. Please find the full announcement available in PDF below: 

    Richemont FY25 Annual Results PDF EN | Richemont FY25 Annual Results PDF FR (abridged)

    The MIL Network –

  • MIL-OSI: General Meeting of 15 May 2025

    Source: GlobeNewswire (MIL-OSI)

    PRESS RELEASE

    General Meeting of 15 May 2025

    Evry, 16 May 2025 – 07:30 a.m.: The term of office of Mrs. Corinne Granger, Chairwoman of the Board of Directors, has expired, and its renewal was not submitted to a vote by the shareholders. The Board would like to thank Mrs Corinne Granger for her commitment to Global Bioenergies. Mr Marc Delcourt, already Chief Executive Officer of the Company, was appointed Chairman of the Board of Directors at the Board meeting held after the Annual General Meeting.

    About GLOBAL BIOENERGIES

    As a committed player in the fight against global warming, Global Bioenergies has developed a unique process to produce SAF and e-SAF from renewable resources, thereby meeting the challenges of decarbonising air transport. Its technology is one of the very few solutions already certified by ASTM. Its products also meet the high standards of the cosmetics industry, and L’Oréal is its largest shareholder with a 13.5% stake. Global Bioenergies is listed on Euronext Growth in Paris (FR0011052257 – ALGBE).

    Contacts

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on May 16, 2025

    Source: Reserve Bank of India

    Tenor 3-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 5,293
    Amount allotted (in ₹ crore) 5,293
    Cut off Rate (%) 6.01
    Weighted Average Rate (%) 6.01
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/341

    MIL OSI Economics –

  • India–UK Trade Deal to Spur 15 % Annual Growth Through 2030, Says CareEdge

    Source: Government of India

    Source: Government of India (4)

    The bilateral trade between India and the United Kingdom is expected to grow by about 15 per cent a year until 2030, on the assumption that the recently concluded free-trade agreement (FTA) will take effect within the next twelve months, according to a report released on Friday.

    The accord, finalised on 6 May after nearly three years of negotiations, presents a strategic opportunity for Indian companies to deepen their presence in the British market, stimulate domestic manufacturing and drive overall economic expansion, CareEdge Ratings said.

    “This landmark FTA also fosters investment, joint ventures and collaboration in the services sector, thereby deepening economic ties. Going forward, the agreement marks a pivotal shift in India–UK economic relations, unlocking new opportunities for businesses, strengthening manufacturing and enriching consumer markets,” observed D. Naveen Kumar, Associate Director at CareEdge Ratings.

    At present the United Kingdom accounts for roughly two per cent of India’s total trade, yet the relationship has been expanding at a compound annual growth rate of 11 per cent over the past decade.
    Under the deal, India will cut tariffs on 90 per cent of British goods, with 85 per cent becoming entirely duty-free over ten years. In return, the UK will abolish duties on selected products, leaving 99 per cent of Indian exports tariff-free.

    “Key benefits for Indian exporters include improved market access, more resilient supply chains, greater competitiveness, higher volumes and fresh avenues for growth,” the report noted.

    Lower tariffs and streamlined regulations are expected to bolster India’s export performance, making its products more price-competitive and therefore more attractive to British buyers. Exporters, who have faced sluggish sales and uncertainty over possible retaliatory US tariffs, may find welcome relief.

    Significant gains are anticipated in automobiles, whisky, industrial machinery and pharmaceuticals, where steep tariff cuts and simplified norms will apply. The agreement is also set to open lucrative prospects for India’s gems-and-jewellery sector by leveraging the UK’s affluent consumer base and mature luxury market.

    Tariffs ranging from 8 per cent to 14 per cent on various electrical and engineering goods will be scrapped, giving Indian manufacturers a clear edge over global rivals, the report added. (IANS)

  • UK court rejects Nirav Modi’s bail plea again amid CBI push for extradition in PNB fraud case

    Source: Government of India

    Source: Government of India (4)

    In a significant development, the High Court of Justice, King’s Bench Division, London, on Thursday rejected the latest bail petition filed by fugitive diamantaire Nirav Deepak Modi. This marks the tenth time Modi’s bail request has been denied since his detention in the United Kingdom.

    The bail application was strongly contested by the Crown Prosecution Service (CPS), which was supported by a dedicated team from India’s Central Bureau of Investigation (CBI), including investigating and legal officers who travelled to London specifically for the hearing. The CBI effectively defended the Indian government’s position, leading to the court’s decision to deny bail.

    Nirav Modi is a declared fugitive economic offender wanted in India for trial in a massive bank fraud case involving the Punjab National Bank (PNB), in which he allegedly defrauded the bank of Rs. 6,498.20 crore. His extradition to India has already been approved by a UK court in favour of the Indian government.

    The latest rejection adds another layer to the prolonged legal battle, as Indian authorities continue their efforts to bring Modi back to face justice.

  • MIL-OSI Russia: International Construction Machinery Exhibition Opens in Central China

    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

    CHANGSHA, May 16 (Xinhua) — The fourth Changsha International Construction Machinery Exhibition (CICM) opened Thursday in Changsha, capital of central China’s Hunan Province, with over 1,800 exhibitors from around the world displaying their advanced mechanical equipment and technologies.

    Held under the theme of “Exclusivity, Intelligence and Greenness,” this year’s exhibition featured global industry leaders such as Caterpillar and Hitachi, as well as Chinese construction machinery giants Sany and Zoomlion.

    The event, with an exhibition area of 300,000 square meters, features exhibits such as mechanical engineering products powered by new energy sources, unmanned technologies and other high-tech equipment. The range of exhibit names covers equipment used in construction, emergency rescue, mining, agriculture and the transportation sector.

    According to available information, about 760 international buyers from more than 20 countries and regions around the world will also visit this exhibition to seek purchasing opportunities.

    Mori Tsunetaka, representative of Hitachi Construction Machinery in China, said at the opening ceremony that over the past years, the CCMWST has become a world-renowned industry event and a world-class platform for market participants.

    Noting that the Chinese market remains a top priority for Hitachi in the firm’s global strategy, Mori Tsunetaka said the company will increase its investment in China and provide stronger technological and resource support.

    This year, the exhibition, which runs until May 18, will also feature forums, technical exchange events and business partner search presentation meetings.

    China’s machinery industry showed steady growth in 2024, largely due to the country’s large-scale equipment upgrade program and a series of policies aimed at stimulating economic growth. According to the All-China Federation of Machinery Industry, the added value of large enterprises in the industry increased by 6 percent in 2024 compared with 2023. Large enterprises are defined as those with annual revenue from their main business activities of at least 20 million yuan (about $2.78 million).

    Changsha is known as a construction machinery manufacturing hub, with major domestic giants in the field based here, including Sany, Zoomlion and Sunward. -0-

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Land registration fees revised

    Source: Hong Kong Information Services

    The Government will increase fees for five types of land registration services in three phases through the 2025-26 to 2027-28 financial years, with the increases ranging from around 15% to 35% in each phase.

    The scope of fee adjustments will cover registration of instruments, including assignment and mortgage; registration of agreement for sale and purchase; lease registration, agreement, renewal and surrender; registration of other instruments; and registration of instruments whereby any charge or mortgage on any share or interest in a property is assigned or transferred.

    The Government explained that these five types of fees for services provided by the Land Registry Trading Fund have not been adjusted for almost 30 years.

    The fees were reviewed and adjusted in accordance with an established mechanism and the “user pays” principle, and have been set at levels considered generally adequate for recovering the full costs of providing the services.

    The amendment regulation was published in the Government Gazette today and will be tabled in the Legislative Council next Wednesday for its approval by negative vetting.

    Thereafter, the revised fees will come into effect in three phases from July 16 of this year, July 1 in 2026, and July 1 in 2027.

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: Release: Prices keep rising while National cuts women’s pay

    Source: New Zealand Labour Party

    Prices for essentials, like milk, butter and electricity continue to get more expensive under National, at the same time as the Government takes money from women’s pockets to save their budget.  

    “It’s more bad news for families today as food prices continue to go up under this Government,” Labour finance and economy spokesperson Barbara Edmonds said.

    “Paying for the weekly shop keeps getting harder. The Government promised to bring prices down, but the only thing they’re bringing down is women’s pay.

    “These are staples in families’ budgets that we’re talking about. The price of butter has skyrocketed, now at $7.42 for a half-kilo, nearly $3 more expensive than this time last year. Milk and cheese are up 15% and 24%. Electricity and gas are also climbing.

    “Instead of helping, this Government has chosen to cut women’s pay, in favour of tax breaks for landlords and tobacco companies.

    “These are the wrong choices as the cost of living continues to bite,” Barbara Edmonds said.

    Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X. 

    MIL OSI New Zealand News –

  • MIL-OSI China: Chinese-built Croatia’s largest solar power project breaks ground

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

    Croatian Prime Minister Andrej Plenkovic (2nd R, Front) and Chinese Ambassador to Croatia Qi Qianjin (2nd L, Front) visit the construction site of the Korlat solar project in Korlat, Croatia, on May 15, 2025. [Photo/Xinhua]

    The groundbreaking ceremony for Croatia’s largest photovoltaic power project, to be constructed by Chinese companies, was held Thursday in Korlat. Croatian Prime Minister Andrej Plenkovic expressed hope that the Korlat solar project would further deepen cooperation and enhance ties between the two countries.

    The project, located in Korlat, a small settlement within the city of Benkovac in Zadar County, will be constructed by a Chinese consortium, consisting of China’s Norinco International Cooperation Ltd. (Norinco International) and the Shandong Electric Power Engineering Consulting Institute.

    In his speech at the ceremony, Plenkovic also highlighted the successful collaboration on the Chinese-built Senj Wind Farm and expressed his pleasure in renewing cooperation with Chinese partner companies.

    For his part, Chinese Ambassador to Croatia Qi Qianjin said that the Korlat project would significantly boost regional economic development, create jobs, improve livelihoods, and support Croatia’s energy transition and green development.

    He expressed his hope that Norinco International would earnestly fulfill its responsibilities as the contractor, operate in compliance with regulations, and deliver another high-quality project that satisfies all parties.

    In October last year, the consortium won the tender to build the Korlat solar power project, with an installed capacity of 99 megawatts.

    Upon completion, it is expected to generate 165 million kilowatt-hours of green electricity annually, meeting the electricity needs of approximately 50,000 households, while also reducing carbon dioxide emissions by 150,000 tons per year. The project is scheduled to be connected to the grid in April 2026.

    MIL OSI China News –

  • MIL-OSI New Zealand: Speech to Otago Regional Growth Summit

    Source: NZ Music Month takes to the streets

    Thank you for being here.

    We appreciate your time. We appreciate your work.

    You have been joined this morning by five Ministers:

    • The Honourable Shane Jones, a driving force for the economic success of provincial New Zealand.
    • Customs Minister Casey Costello.
    • South Island Minister James Meager, and
    • Associate Regional Development Minister Mark Patterson.

    Today’s summit

    Ours is a country that has taken challenges and overcome them.

    Too often, we look to somebody else for an answer. We need look no further than ourselves.

    Gathered in this room are senior leaders from across the Otago region. Industry leaders, education leaders, transport leaders, elected leaders, and future leaders.

    Indeed, this entire region represents a story of New Zealand. One that embraces its resources, recognises its assets, develops itself, markets itself, attracts a thriving workforce and builds a community.

    These Regional Growth Summits have been set up as a forum for businesses, industry, and key regional leaders for your region’s priorities and how we can work together to grow regional economies.

    Rail as an economic enabler

    A man called Julius Vogel, from Dunedin, saw New Zealand as a nation and not as a series of regions. He connected us with rail, building more rail in ten years than in the 130 years which followed. One nation with many strengths.

    This morning, you have heard from Hon Shane Jones of our Government’s commitment of $8.2 million to build a three-track rail siding connecting Southern Link Logistics, an inland freight hub.

    Freight is about getting from A to B. Freight is the lifeblood of our economy. It’s no good making something if it doesn’t go to a customer.

    Rail boosts the network. Rail is the clearing house for busy ports, moving vast quantities of containers so ports can handle more ships. More ships enable more exports, more imports, more trade.

    Inland freight hubs mean local road freight operators, and rail freight, can feed regional goods into the hub and have rail take the combined heavy-haul to port. This model happens all over the country, and locals here in Otago have said they need it, and we have listened and delivered.

    Further, we have rebuilt the Hillside Railway Workshops in Dunedin. Brand new mechanical depots and network services, and an assembly operation is driving mechanical engineering expertise here in Otago and delivering 1,500 wagons to serve national goods.

    We don’t just talk. We deliver.

    Rebuilding the economy

    New Zealand requires a productive economy to thrive. 

    That means using what we have, adding value, and solving problems elsewhere in the world with our ideas and our products.

    This is not a new idea. Economic success requires work, right here, right now, every day.

    We have many assets as a nation:

    • Our people, their dedication to each other, their families and their communities. Their willingness to put in a hard days work, and our educators, thinkers and innovators and their tenacity to push humanity forward.
    • Our businesses, taking risk and investing for tomorrow, building industries, and backing their communities.
    • Our infrastructure – roads, rails, ports, farms, mills, depots, workshops, fibre, and much more. We have invested heavily, and these assets remain as vital to our success today as they have for decades.
    • Our resources – pastoral land, oceans and rivers, forests and yes, a thing called the extractive industry. Look around, 96 percent of this building and every building in New Zealand came from the extractive industry.

    We must aggressively sell our country as an attractive investment destination.

    The question that is always asked, “but why New Zealand?”, and we must have the answer.

    What gives us an edge over other small nations seeking investment? Why should an investor look to us, to our people, to our resources, to our future and decide we are where their future lies?

    Singapore, Taiwan, Ireland, and Croatia today, have answered these questions.

    So, what must we do?

    First, developing talent is essential to driving productivity gains.

    Many of you will also be aware of the work underway to redesign New Zealand’s vocational training to make it more regionally responsive, efficient, and relevant. These changes will help equip our people with the skills to take better opportunities within their communities, rather than needing to head off to Australia.

    Government investment through Regional Development funds, which started with the Provincial Growth Fund, has had a huge impact on growing job opportunities in Otago, with just under 1,000 jobs created through central government investment in Otago to date. 

    We will see these positive employment outcomes continue with the construction of the flood resilience projects and future potential investments through the Regional Investment Fund.

    Second, competitive business settings. We need the right policies and settings to allow development in the right places at the right time. We are talking here about sensible tax, predictable labour settings, and reliable migration settings.

    The length of time it takes to deliver infrastructure projects in New Zealand is costing us – in inflated costs, delays, and importantly from our perspective, in our international reputation for doing business. We see shovel-ready projects trapped in cycles of over-regulation and legal challenges.

    Third, promoting global trade and investment to boost the value of our exports, grow international markets and attract investment for our firms.

    As the Minister of Foreign Affairs this one is obvious. We are rebuilding the importance of solid relationships and working in partnership with other countries.

    Fourth, science and innovation systems are critical to boosting the number of knowledge-intensive, internationally connected firms.

    Improving digital connectivity and skills is a critical way of ensuring communities have access to a broader range of employment opportunities and enjoy greater productivity. To support these outcomes, the Provincial Growth Fund provided a $950,000 grant for the business case and $10 million grant toward the development of the Centre of Digital Excellence in Dunedin. 

    The centre invests in career pathways to the gaming industry, helps develop digital skills, grows digital capability, supports innovation through contestable funds, and attracts digital businesses to Dunedin.

    Fifth, long-term infrastructure. We want to see major projects on the Fast-Track. That is why we have legislated for economically significant infrastructure projects to be considered for what they are: the pathway to our future. We got things done in our past, and we are going to do it again.

    We are backing our roads and our rail because we know an export nation relies on solid connections to our coastal ports.

    And, if Minister Jones hasn’t made you aware, a $1.2 billion Regional Infrastructure Fund.

    Conclusion

    Now, we remind you that while the people of Wellington do have strengths, the public service within Wellington will not be the problem solver for Otago. That is your job.

    We need our regions to be running at full steam, increasing self-sufficiency, resilience, and for everyone to benefit from the changes we’re driving.

    And if you need help, tell Shane Jones what’s important to you as a region, and how we can work together to make that happen.

    You will be heard.

    Thank you very much.

    MIL OSI New Zealand News –

  • MIL-OSI USA: In Speech to National Urban League, Warren Calls Out Republican Plans to Shortchange American Families to Pay for Billionaire Tax Cuts

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    May 15, 2025
    “If they win, the billionaires don’t just become wealthier—the rest of us lose out big time in investments we never make. Investments to fix our roads and bridges. Investments to make child care affordable so parents can get to work.”
    Washington, D.C. — Today, U.S. Senator Elizabeth Warren (D-Mass.) delivered remarks at the National Urban League’s 2025 Empowerment Summit, laying out the stakes of the tax fight in front of Congress. 
    Senator Warren called out Republicans’ plans to give billionaires trillions of dollars in tax cuts while cutting health care and education spending and raising costs for American families. 
    “We are people who believe that if you make it really, really, really big— bigger than millions and billions of dollars big—you should pitch in your fair share so everyone else can have a chance. And when we do that…(w)e can invest in neighborhood businesses. We can finally level the playing field for working families in America,” said Senator Warren. 
    Senator Warren also warned that Republicans’ GENIUS Act would turbocharge President Trump’s corruption and set American families up to be further scammed. 
    “If we don’t fix this bill, communities that the Urban League seeks to represent will be harmed most. What Republicans are selling as an opportunity for financial inclusion and empowerment will tank our financial system, and cause pain to families who are barely making ends meet,” concluded Senator Warren. 
    Transcript: Remarks for the National Urban League 2025 Empowerment Summit May 15, 2025
    As Prepared for Delivery
    Senator Elizabeth Warren: Hello National Urban League! It is so good to be here with you today. 
    Let’s talk about Trump’s “big, beautiful bill,” or as the nerds call it: the reconciliation package, or, as I call it, the Billionaires Win, Families Lose Plan.
    The fight before Congress today will help determine the kind of country we are. Are we a country that only works to make the rich get richer? Or are we a country that believes everyone in this country deserves a chance to succeed – no matter the color of your skin, who you love, how you worship, where you were born, or what zip code you live in. That is the fight.
    But before we get into it, let me briefly rewind: In his first term, Donald Trump had one major legislative accomplishment. A $2 trillion tax cut. You might be wondering to yourself: I don’t remember getting a tax cut. Well, you probably didn’t notice much of a difference on your taxes, because the Republican tax giveaways got mostly sucked up by millionaires, billionaires, and giant corporations. Not working people.
    This year, those tax giveaways are up for renewal. And this time, it’s even worse. These tax cuts could cost $52 trillion over the next thirty years. To give you some context, that is more debt than we have built up in the 249-year history of our country.  
    These are primarily tax giveaways to millionaires, billionaires and giant corporations.  
    I say the millionaires and billionaires are doing just fine—we should instead give tax breaks to working parents and the people educating our children!
    But it gets worse. The Republicans in Congress want to pay for these tax giveaways by cutting the basic services that help the not-rich people. Trump and the Republicans plan to rip away health care coverage for millions of people. They are working to slash public education. And they are fine with raising the cost of groceries – all to pay for trillions of dollars in giveaways for billionaires.  
    The Republican plan is on full display. It can fit on a bumper sticker: Billionaires win; families lose. 
    If they win, the billionaires don’t just become wealthier—the rest of us lose out big time in investments we never make. Investments to fix our roads and bridges. Investments to make child care affordable so parents can get to work. Investments to help Black and Brown communities get a fighting chance after decades of discrimination and injustice. 
    There it is:
    Shortchange our children so Jeff Bezos can buy another $40 million clock that ticks once a year.  
    Cripple our small businesses so Mark Zuckerberg can host even more black tie events, dress up like Benson Boone, and dance around. That’s not a joke. I saw the video. Would not recommend.
    Hollow out our communities so Elon Musk can plan a trip to Mars. Actually, if he would take his chainsaw with him, I’d be willing to contribute to sending him there.
    But the stakes of this tax fight are very serious. I know we don’t have all the tools we need in Congress right now. I know the math. But that does not mean that we have no tools at all. 
    The way I see it, we’ve got two choices in front of us: we can whimper, we can whine, or we can fight back. And I know this group is ready to fight back. And that starts with a “hell no” on any bill that gives billionaires more tax breaks.
    Because that’s not our vision for this country. We are people who believe that if you make it really, really, really big— bigger than millions and billions of dollars big—you should pitch in your fair share so everyone else can have a chance. 
    And when we do that, we can fund investments in child care, and in education, and in affordable housing. We can invest in neighborhood businesses. We can finally level the playing field for working families in America.
    While I’m with you all today, the Senate could vote on the GENIUS Act crypto bill as soon as next week. We need to make the financial system fairer but this bill will turbocharge Donald Trump’s corruption while making it easier for consumers to get tricked and trapped. If we don’t fix this bill, communities that the Urban League seeks to represent will be harmed most. What Republicans are selling as an opportunity for financial inclusion and empowerment will tank our financial system, and cause pain to families who are barely making ends meet.
    So hold onto that vision and stay in the fight. Thank you all for being here today. I am honored to fight alongside you. 

    MIL OSI USA News –

  • MIL-OSI Banking: EXPO’70 Matsushita Pavilion and Time Capsule

    Source: Panasonic

    Headline: EXPO’70 Matsushita Pavilion and Time Capsule

    At the Panasonic Group, the Basic Business Philosophy serves as the foundation for our practice of contribution to the development of society.
    The Matsushita Pavilion at Expo 1970 Osaka, which adopted the theme “Tradition and Development,” was a major success. In this feature, we look back at three stories involving the founder Konosuke Matsushita, who personally visited the site and consistently put customers first. Through the operation of the Matsushita Pavilion and the creation of the Time Capsule, we explore how his hands-on approach brought the Panasonic philosophy to life.

    MIL OSI Global Banks –

  • MIL-OSI Australia: Pillar Two interactions with other provisions

    Source: New places to play in Gungahlin

    Interaction with other provisions

    Australia’s implementation of the Global Anti-Base Erosion Model RulesExternal Link (GloBE Rules) includes consequential amendments to Australia’s income tax law to clarify its interaction with Pillar Two. The amendments are included in the Multinational—Global and Domestic Minimum Tax (Consequential) Act 2024External Link.

    In particular, the Consequential Act includes amendments to specific Australian cross-border tax provisions. These include rules concerning foreign income tax offsets, controlled foreign companies, hybrid mismatches and foreign hybrids.

    Australia’s foreign income tax offset (FITO) rules do not provide a foreign tax credit for taxes paid under a foreign income inclusion rule (IIR) and foreign undertaxed profits rule (UTPR).

    However, to the extent you satisfy the usual eligibility criteria and integrity rules, a FITO may be claimed in respect of foreign domestic minimum top-up tax (DMT) paid on income included in your Australian assessable income.

    The amount of the FITO allowed in respect of foreign DMT taxes is subject to an additional safeguard.

    New FITO integrity rule for foreign DMT taxes

    The amount of DMT tax which an entity is treated as having paid is reduced by:

    • the amount of a refundable tax credit that is refunded to an entity because the credit exceeds income tax liability
    • consideration received for the transfer of a transferable tax credit to which an entity was entitled in respect of a foreign income tax of that jurisdiction
    • cash or cash equivalent amounts recognised as government grants under International Accounting Standard 20 (or a comparable accounting standard applicable under a foreign law)
    • a benefit of a kind specified by the Minister in respect of a specified jurisdiction.

    This new integrity rule complements the existing FITO integrity rule. The existing rule reduces the amount of foreign income tax that an entity is considered to have paid:

    • to the extent it is entitled to refunds of the foreign income tax, or
    • by any other benefits worked out by reference to the amount of foreign income tax.

    Example: New FITO integrity rule for foreign DMT

    Entity A (a constituent entity located in unlisted country Jurisdiction A) is a Controlled Foreign Company (CFC), wholly owned by Aus Co, which is part of the same multinational enterprise group (MNE group).

    Jurisdiction A has a corporate tax rate of 10% and has enacted a Qualified Domestic Minimum Top-up Tax.

    Entity A receives a $6 grant from the government of Jurisdiction A (recognised as a government grant under an applicable accounting standard).

    Entity A derived $85 of attributable income, which is wholly attributable to Aus Co. In arriving at the $85 of attributable income, a notional deduction of $10 for corporate income tax and $5 for a foreign DMT tax paid in Jurisdiction A is claimed.

    Assuming other relevant conditions in the FITO rules are satisfied, the amount of FITO that could have been available for Aus Co would have been $15 (the combination of $10 CIT and $5 DMT), disregarding the new integrity rule.

    However, under the new integrity rule, the FITO is reduced by the government grant ($6), capped at the amount of foreign DMT tax paid ($5).

    Therefore, the FITO allowed is $15 – $5 = $10.

    End of example

    Controlled foreign company rules

    The CFC rules work to attribute foreign income earned by a foreign company back to Australia in certain circumstances. The interactions between the CFC rules and Pillar Two are such that:

    • Tax imposed under CFC tax regimes (including Australia) are taken into account when calculating the effective tax rate of a jurisdiction for Pillar Two purposes.
    • Foreign DMT, IIR or UTPR taxes are excluded from the meaning of ‘subject to tax’ for CFCs and transferor trusts located in a listed jurisdiction under section 324 of the Income Tax Assessment Act 1936 (ITAA 1936). This will also impact whether certain income is considered eligible designated concession income (EDCI) and therefore taxed in Australia.
    • Taxpayers are precluded from notionally deducting foreign IIR tax and foreign UTPR tax in calculating attributable income under section 393 of the ITAA 1936.
    • A notionally allowable deduction may be available for payments of foreign DMT tax.

    Australia’s Qualified Domestic Minimum Tax (QDMT) is given priority in its application to Australian income and does not take into account taxes imposed under other CFC tax regimes.

    Example: Eligible designated concessional income

    Australian Entity A Co is an attributable taxpayer in respect of B Co, which is located in an overseas listed country. The listed country has implemented the IIR, UTPR and DMT.

    The listed country applies a QDMT, which includes an item of income from B Co in its Effective Tax Rate (ETR) calculation. This income is otherwise exempt for corporate income tax purposes in the listed country.

    In determining whether the item of income has been subject to tax in a listed country, the taxpayer is required to disregard any imposition of GloBE taxes (IIR, UTPR and DMT). The item is still considered as EDCI.

    The taxpayer is also entitled to a notional deduction for any foreign DMT paid in respect of the EDCI included in its notional assessable income.

    End of example

    Hybrid mismatch rules

    The operation of Australia’s hybrid mismatch rules broadly continues to operate unaffected by the Australian global and domestic minimum tax.

    Foreign DMT, IIR or UTPR and other foreign minimum taxes are disregarded when determining if an amount of income is subject to foreign income tax per the hybrid mismatch rules under section 832-120 of the Income Tax Assessment Act 1997. This ensures that a hybrid mismatch can be identified irrespective of whether a jurisdiction has implemented an IIR, UTPR or DMT.

    The disregarding of such taxes also applies in the context of Australia’s targeted integrity rule in Subdivision 832-J. Specifically, a foreign GloBE tax does not impact whether a payment of interest or an amount under a derivative financial arrangement is subject to foreign income tax at a rate of 10% or less. However, the application of foreign IIR, UTPR and DMT taxes may still be a relevant factor under the principal purpose test in determining whether it is reasonable to conclude that an entity entered a scheme with the requisite purpose.

    Foreign hybrid rules

    Similarly, Australia’s foreign hybrid rules broadly continues to operate unaffected by the Pillar Two regime.

    Australia’s foreign hybrid rules ensure that an entity that qualifies as a ‘foreign hybrid’ is treated as a partnership (rather than a company) for Australian tax purposes.

    One of the requirements for entities to be treated as foreign hybrids is that no foreign income tax is imposed on the entity itself. References to ‘foreign income tax’ do not include foreign IIR, UTPR and DMT taxes and other foreign minimum taxes, ensuring that the foreign hybrid rules are not impacted by a foreign jurisdiction’s decision to impose such taxes at the level of the foreign hybrid entity.

    Example: Foreign hybrid limited partnership

    Polar LLP is located in Jurisdiction A. AusCo, located in Australia, is a limited partner of Polar LLP. Under the corporate income tax regime of Jurisdiction A, Polar LLP is treated as fiscally transparent, and the imposition of taxes are on partners of Polar LLP of which AusCo is one.

    Assuming all other relevant conditions are met under Australia’s foreign hybrid rules, Polar LLP is treated as a fiscally transparent partnership for Australian tax purposes. One of the requirements to be met is that foreign income tax is imposed on the partners of Polar LLP (including AusCo) and not on Polar LLP itself.

    Jurisdiction A implements a IIR, UTPR and DMT, and legislates for these GloBE and DMT related liabilities to be imposed on limited partnerships (such as Polar LLP) instead of on its partners.

    AusCo is required to disregard the imposition of those taxes on the partnership and will continue to treat Polar LLP as a foreign hybrid limited partnership under Division 830.

    End of example

    More information

    For more information, see:

    MIL OSI News –

  • MIL-OSI Asia-Pac: Transparent, Standardized, and Simplified Review Process for Solar PV Applications, while Keeping Ecological Considerations in Mind

    Source: Republic of China Taiwan

    On March 31, the Ministry of Economic Affairs (MOEA) announced revisions to several key regulations and associated forms to uphold the public’s right to information, clarify approval standards for local governments, and protect residential living environments. These revised regulations include the Regulations on Registration of the Electricity Industry, Regulations on Registration of Power Generation Equipment for Self-Use, Regulations for the Installation and Management of Renewable Energy Generation Equipment, and the Guidelines for Landscape and Ecological Impact Review of Ground-Mounted Solar PV Installations. These updates aim to enhance communication and coordination with local communities by requiring developers to hold public briefings during the application process, standardizing consent forms and criteria for local governments, and mandating appropriate buffer distance between solar facilities and nearby residences to maintain quality of life.

    The MOEA further explained that, to ensure local communities are well-informed, it convened relevant central agencies, local governments, and industry associations to revise the Regulations on Registration of Electricity Industry. Under the amended rules, solar developers are required to conduct public briefings in the villages or neighborhoods where the highest concentration of solar panels, step-up substations, or energy storage facilities will be located, prior to submission of an establishment permit application. Developers must submit records and sign-in sheets to strengthen local participation and clarify project details.

    In addition, the MOEA has revised the Regulations on Registration of the Electricity Industry to provide consistent standards for local governments when approving solar power businesses. As part of these amendments, a standardized Checklist for Local Government Approval of Solar Photovoltaic Power Generation Businesses has been introduced, providing consistent criteria to enhance administrative efficiency across different jurisdictions.

    To protect the quality of residential environments, the MOEA has also updated the Guidelines for Landscape and Ecological Impact Review of Ground-Mounted Solar PV Installations, explicitly requiring an appropriate buffer distance between solar facilities and residential areas. In line with these changes, corresponding amendments have also been made to the Regulations on Registration of the Electricity Industry, Regulations on Registration of Power Generation Equipment for Self-Use, and Regulations for the Installation and Management of Renewable Energy Generation Equipment. These updates ensure that all types of installations must fully consider potential impacts on landscape and ecology, as a way of supporting inclusive and harmonious development.

    Lastly, the MOEA reaffirmed that these regulatory improvements are designed to foster harmony in local communities, as well as their co-existence, co-prosperity, and synergy with solar energy development, building a friendly environment and realizing a sustainable, win-win future for all stakeholders.

    Spokesperson
    Wu, Chih-Wei, Deputy Director General
    Energy Administration, Ministry of Economic Affairs
    Tel: (02) 2775-7750 / 0922-339-410
    Email: cwwu@moeaea.gov.tw

    Contact for Further Information
    Liao, Shih-Wei, Deputy Division Chief
    Energy Administration, Ministry of Economic Affairs
    Tel: 0920-091-081
    Email: swliau@moeaea.gov.tw

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: World-first reusable space debris collector set to revolutionise sector

    Source:

    16 May 2025

    Paladin founder and CEO, Harrison Box, with Triton

    University of South Australia based startup Paladin Space has demonstrated the world’s first space payload capable of capturing debris from multiple targets and storing it on satellites for recycling, reducing the cost of space debris removal and making the process more sustainable.

    The company showcased their technology, called Triton, at a private demonstration event yesterday at UniSA’s Innovation & Collaboration Centre (ICC).

    The next steps will be to demonstrate the technology in orbit, secure pilot customers and perform qualification testing for a space mission. The company is also expecting to share news of an overseas expansion in coming months.

    South Australian Treasurer and Minister for Defence and Space Industries Stephen Mullighan says the potential of this innovative product demonstrates the impact South Australian based space startups are having in leading advances in space technology.

    “Space start-ups play a critical role in accelerating the growth of the South Australian space industry and strengthening our economic resilience and relevance,” Minister Mullighan said.

    “Paladin Space’s innovative technology, which has been developed right here in South Australia, is a perfect example of what’s possible when you foster an environment that nurtures bold ideas. It’s an example of homegrown ingenuity where South Australia is developing innovative ideas aimed at solving global challenges.”

    Space debris is a growing issue that poses significant threats to satellites and space missions. The large volume of debris, combined with its high velocity, creates a collision risk with potential to damage satellites and space infrastructure.

    A report by Northern Sky Research found that the ‘In-Orbit Servicing Market’ is expected to reach $4.7b by 2031, and roughly half of that market is debris removal and salvaging.

    Founder of Paladin Space, Harrison Box says their product will be able to capture multiple pieces of debris in a single mission.

    “Triton will make the process of debris removal more sustainable and cost effective while also being able to eject its contents on space targets, preserving the spacecraft in orbit to be reused for other missions,” he says.

    Their solution means Triton will eject its contents from the parent satellite at a very specific time so that it’s trajectory will not interfere with anyone else’s satellites. Shortly after ejection, Triton will descend into the Earth’s atmosphere, causing it to burn up completely within a matter of hours.

    The team are designing Triton to be compatible with future in-orbit recycling solutions so its contents can be delivered in-orbit as materials for manufacturing.

    “We are designing Triton to be able to dock easily with these in-orbit manufacturing stations so that the contents it collects can be recycled into metal rods or sheets for manufacturing satellites,” Mr Box says.

    “Not only is this practice sustainable, but incredibly cost effective for satellite manufacturers to ‘skip’ the launch phase of a mission and simply build their assets in space.”

    The Triton container is designed to capture many small pieces of debris such as fragments from collisions, however, the product is scalable depending on the mission. If a customer wants a larger volume, they could achieve 600mm (0.6m) cubed, or smaller missions may only require 300mm (0.3m) cubed.

    Paladin Space participated in UniSA’s space accelerator program Venture Catalyst Space in 2023, supported by the South Australian Space Industry Centre.

    Deputy Director: Business Incubation at the University of South Australia Craig Jones says the novel technology has the potential to make a huge impact on the space debris market.

    “Triton is on course to revolutionise the space debris industry and contribute to manufacturing in space, a mind-blowing proposition. We look forward to seeing it in action one day soon,” Jones says.

    “From placing second at an ICC global space hackathon, to participating in the Venture Catalyst Space program in 2023, we are incredibly proud to have played a small part in supporting this team to build their enterprise,” he says.

    Box says UniSA’s support and infrastructure continue to be instrumental to the success of his business.

    L-R, Harrison Box, Stephen Mulligan MP, Peter Stevens and Craig Jones

    “The advice I received in the early days helped to shape everything from our pitch deck to the financial accounting for our business, including areas like employability, beach-head markets, problem validation and general customer acquisition practices.

    “Having an office space to prototype and run our business from was also a game-changer that allowed Paladin Space to be put on the map, and I am still honoured to be a resident at the Innovation & Collaboration Centre – despite the team growing larger.”

    Box says he plans to keep his company headquarters in South Australia as they grow for as long as the government continues to support the space industry.

    Venture Catalyst Space, has supported 40 startups that have collectively raised almost $43 million in additional investment and grants, while creating almost 240 space jobs.

    About Harrison Box:

    • Box has a Masters in Aerospace Engineering with first-class honours from the University of Glasgow.
    • He spent a year of his study at the University of California where he led a team to design and build a liquid rocket engine test stand in the Mojave desert.
    • During his time at university he worked as a Powertrain Engineer at Nissan and a Avionics Engineer for a flight hardware company before becoming a Systems Engineer for BAE Systems. He spent two years working for multiple fast-jets in various countries, then was a Concept Engineer doing a variety of R&D work on military fast-jets for the remaining year before moving to Australia and becoming a Senior Systems Engineer for a novel radar project.

    Media contact: Megan Andrews, Megan.andrews@unisa.edu.au, 0434 819 275

    MIL OSI News –

  • MIL-OSI China: World’s largest car carrier built by China sets sail

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

    An aerial drone photo taken on May 15, 2025 shows the naming ceremony of the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]

    SHANGHAI, May 15 — Anji Ansheng, China’s domestically built ocean-going car carrier and the world’s largest such carrier in terms of capacity, set sail on its maiden voyage to Europe on Thursday evening, carrying approximately 7,000 China-made vehicles.

    The departure from Shanghai marks a milestone achievement, surpassing a record set just weeks earlier by BYD Shenzhen, which is a domestically built car carrier from the major Chinese automaker BYD. That vessel had previously held the title of the world’s largest car carrier in operation.

    “The fact that this record has been broken again in less than a month reflects the rapid rise of China’s mid-to-high-end manufacturing sector, and the resilience and vitality of the country’s foreign trade despite complex global conditions,” said Gao Yuning, deputy director of the School of Public Policy and Management at Tsinghua University.

    Anji Ansheng measures 228 meters in length and 37.8 meters in width, with a maximum capacity of carrying 9,500 standard vehicles, said Zhuang Jingxiong, general manager of SAIC Anji Logistics Co., Ltd., a subsidiary of SAIC Motor Corporation Limited.

    The vessel integrates advanced energy-saving technologies and intelligent low-carbon systems, achieving world-class energy efficiency. It is also incorporated with a methanol-refueling design, laying the foundation for achieving carbon neutrality in the future.

    “China’s large-scale construction and delivery of vehicle carriers are propelling the country’s ocean-going auto transport capacity to new heights,” said Zheng Hehui, deputy general manager of China Merchants Industry Holdings, a subsidiary of the China Merchants Group.

    According to SAIC, the company had delivered over 5.5 million vehicles to international markets by the end of 2024, placing it among China’s top car exporters. SAIC’s annual overseas sales have surpassed 1 million units for three consecutive years.

    China’s automobile exports exceeded 6.4 million units in 2024, maintaining the top global position for a second consecutive year, according to the General Administration of Customs of China.

    Data from January to April 2025 shows that the country exported more than 1.93 million vehicles during the period, a year-on-year increase of 6 percent.

    Take the Shanghai Haitong International Automotive Terminal — from where Anji Ansheng set sail — as an example. Despite global trade uncertainties in the first four months this year, the port exported 740,000 vehicles during the period, a year-on-year increase of 25.1 percent.

    “This momentum reflects not only the rising competitiveness of Chinese brands but also the strong capabilities of China’s auto industry,” Cui Dongshu, secretary general of the China Passenger Car Association, said.

    China’s growing competitiveness was also evident at the recent 2025 Shanghai Auto Show, which attracted more than 12,000 overseas dealers.

    “China is doing a great job in terms of technology, and the cars are very reliable. People have confidence in Chinese cars. I think they see Chinese cars as offering a good balance between price and quality,” said Agustin Garcia, CEO of Spain’s Sarmovil Auto Group.

    SAIC’s Anji Logistics now operates one of the world’s leading vehicle shipping fleets. By 2026, its ocean-going fleet will grow to 22 vessels, with routes covering Western Europe, Mexico, Southeast Asia, the Middle East and other key export destinations for Chinese automakers.

    “For automakers, owning a fleet ensures stable export operations, reduces transportation costs, and guarantees timely delivery of products to overseas customers,” said Xie Xiaowen, an expert from the China Communications and Transportation Association.

    MG cars produced by Shanghai Automotive Industry Corp (SAIC) are parked next to the car carrier Anji Ansheng to be shipped in east China’s Shanghai on May 15, 2025. [Photo/Xinhua]
    An aerial drone photo taken on May 15, 2025 shows the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]
    Cars are driven onto the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai, May 15, 2025. [Photo/Xinhua]
    An aerial drone photo taken on May 15, 2025 shows the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]
    This photo taken on May 15, 2025 shows the ceremony of the maiden voyage of the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]
    A panoramic aerial drone photo taken on May 15, 2025 shows the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: China urges action to ensure Nakba becomes history through two-State solution

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

    China’s deputy permanent representative to the United Nations, Geng Shuang, on Thursday called for urgent steps to realize a comprehensive and lasting solution to the Palestinian question, stressing that only through the implementation of the two-State solution can the Nakba be consigned to history.

    “Seventy-seven years ago, more than half of the Palestinian people were expelled or fled from their homes during the Arab-Israeli war, and they have since embarked on the arduous journey of striving for their legitimate rights and interests. Today, 77 years later, the historical injustice suffered by the Palestinian people has not only remained unaddressed, but has even worsened,” said Geng at a United Nations commemoration marking the 77th anniversary of the Nakba.

    Highlighting the devastating impact of the 19-month-long conflict in Gaza, Geng said more than 53,000 Palestinians had lost their lives and two million people now face “an unprecedented humanitarian catastrophe” under an intensifying Israeli siege.

    The continued expansion of settlements in the West Bank and rising settler violence are “relentlessly squeezing the space for the Palestinian people and eroding the basis of the two-State solution,” he said.

    “The question of Palestine, at the core of the Middle East issue, bears on the peace, stability, and long-term security of the region. The implementation of the two-State solution is the only viable way to resolve the question,” said Geng. “The imperative now is to immediately realize a lasting ceasefire in Gaza and alleviate the humanitarian disaster.”

    He urged Israel to comply with UN Security Council and General Assembly resolutions, respect the International Court of Justice’s provisional measures and advisory opinion, and “immediately cease all military attacks and violations of international law, especially international humanitarian law, lift the blockade of Gaza, stop settlement activities in the West Bank, and curb settler violence.”

    “A major power with significant influence over the party concerned should uphold an impartial and objective position, and take tangible actions to calm the fighting in Gaza and ease tensions in West Bank,” he said.

    Reaffirming China’s long-standing position, Geng reiterated the country’s support for an independent State of Palestinian “based on the 1967 borders with East Jerusalem as its capital,” as well as Palestine’s full membership in the United Nations.

    He also expressed support for the Gaza recovery and reconstruction plan jointly launched by Egypt and other Arab countries, and the high-level conference on the two-State solution to be held by France and Saudi Arabia in June, “which will give new impetus to its implementation.”

    “China will continue to work tirelessly with all peace-loving countries to promote the implementation of the two-State solution and to realize a comprehensive, just, and lasting solution to the question of Palestine at an early date, so that the Nakba day will forever remain in the past,” Geng said. 

    MIL OSI China News –

  • MIL-OSI China: China slams US abuse of export restrictions on Huawei chips

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

    China’s commerce ministry on Thursday condemned the U.S. for abusing export control measures targeting Chinese tech giant Huawei’s Ascend chips, pledging to take resolute measures to protect the legitimate rights and interests of Chinese companies.

    “The United States has abused its export control measures and imposed stricter restrictions on Chinese chip products under unfounded allegations,” said spokesperson He Yongqian in response to recent U.S. announcement that using Huawei’s Ascend chips anywhere in the world violates U.S. export controls.

    She said the announcement is a typical non-market and unilateral bullying practice, which fully exposes the unilateralist and protectionist nature of the United States.

    The U.S. move has severely undermined Chinese companies’ legitimate rights, threatened the stability of global semiconductor supply chains, violated market rules and disrupted international trade order, He told the media.

    The restrictions would also jeopardize the long-term, mutually beneficial and sustainable cooperation between Chinese and U.S. firms, she said, urging the United States to immediately correct its wrongdoings and vowing to take resolute steps to protect the rights and interests of Chinese firms. 

    MIL OSI China News –