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Category: Business

  • MIL-OSI Europe: Written question – EU industrial priorities: will the Commission acknowledge mistakes and take real action to save the European steel sector? – E-001863/2025

    Source: European Parliament

    Question for written answer  E-001863/2025
    to the Commission
    Rule 144
    Piotr Müller (ECR)

    For years, the Commission has stood passively by as Europe has deindustrialised, imposing costly regulations and ignoring the consequences of China’s increasing industrial overproduction and the US’s recent tightening of customs policy aimed at protecting its heavy industry. Now, facing pressures from rising unemployment, dependence on external suppliers and the threat of losing industrial sovereignty, the Commission is trying to save the steel sector, which employs more than 300 000 EU citizens.

    I would therefore like to ask three specific questions, which require equally specific answers:

    • 1.Is the Commission prepared to explicitly acknowledge that its current regulatory approach – lacking any effective mechanisms to protect strategic industry – has contributed to the loss of production capacity and has deepened Europe’s dependence on external economic powers?
    • 2.In light of the facts (mass lay-offs, steelworks closures, falling exports and growing trade deficits), will the Commission acknowledge that maintaining industrial production in the EU must become an absolute priority, even if it means having to adapt the decarbonisation agenda?
    • 3.Will the Commission review the application of the Emissions Trading System (ETS) to the steel industry and consider temporarily suspending or permanently modifying it, given that, as currently designed, the ETS makes it impossible in practice for European steel producers to compete with operators outside the EU?

    Submitted: 8.5.2025

    Last updated: 15 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Commission’s assesment of EIOPA findings regarding NOVIS case – E-001855/2025

    Source: European Parliament

    Question for written answer  E-001855/2025
    to the Commission
    Rule 144
    Rada Laykova (ESN)

    On 16 May 2022, the European Insurance and Occupational Pensions Authority (EIOPA) issued a recommendation requiring Národná banka Slovenska (NBS) to act against a Slovakian insurance company. The Commission, referencing evidence the EIOPA had gathered, subsequently issued a formal opinion requiring the NBS to act in the case.

    Serious questions have been raised about key assumptions that informed the EIOPA’s conclusions regarding an alleged breach of the minimum capital requirement in this case.

    Can the Commission answer the following questions:

    • 1.Did it base its formal opinion on an independent, Commission-conducted analysis, or did it largely depend on the EIOPA’s analysis?
    • 2.Did it use the EIOPA’s figures on (a) the yearly future cancellation rate of insurance contracts and (b) the costs of servicing insurance contracts in its analysis?
    • 3.Did it independently assess the ‘evidence’ used in the EIOPA’s analysis?

    Submitted: 8.5.2025

    Last updated: 15 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB and the Luxembourg Space Agency join forces to enhance solutions for European Space for Finance

    Source: European Investment Bank

    • EIB and Luxembourg Space Agency (LSA) to support expanded use of satellite information in the financial domain
    • The new Research and Development Pilot programme will be led by the LSA with the support of the EIB
    • The partnership aims at bolstering European strategic autonomy of space data related to financial transactions

    The European Investment Bank (EIB) and the Luxembourg Space Agency (LSA) announced today a collaboration to enhance the integration of European space applications in the financial sector, ultimately benefitting industries such as investment banking and insurance. Leveraging Europe’s strengths in Earth Observation and navigation applications, the Space for Finance initiative aims to improve financial services’ reporting and sustainability efforts through innovative satellite-based solutions. For example, satellites can regularly collect data about the environment and climate, helping companies track how their sites are performing, predict and manage risks, and easily compare results across different locations and businesses.

    As part of this collaboration, the R&D Pilot Programme will explore the full potential of using satellite imagery and other space data for project monitoring and impact assessment using concrete pilot projects. This will pave the way for launching a call for projects aimed at industry players. This initiative, signed today in Luxembourg, aims to enhance the integration of satellite data into financial practices, ultimately benefiting sectors such as investment banking and insurance.

    EIB Vice President Robert de Groot stated, “Space is no longer just about exploration, it is increasingly about innovation that drives real-world solutions. Our partnership with the Luxembourg Space Agency allows us to use the power of satellite data to enhance financial monitoring and drive sustainable development.  Together, we will explore and redefine how space applications can enhance the European strategic autonomy and support the financial sector in creating a more resilient and forward-thinking economy.”

    Through this collaboration, the EIB reinforces its ongoing efforts to bolster the competitiveness of the European space sector, with a specific emphasis on Luxembourg’s growing role in the commercial space arena. LSA has been instrumental in promoting the space industry in Luxembourg, providing support to new and existing businesses, developing human resources, and facilitating access to financial solutions. Working closely with financial intermediaries, such as the EIB, could accelerate the development of Space for Finance solutions, facilitating their market uptake.

    “The space sector drives innovation and economic growth in Luxembourg and across Europe, and it’s also key to our security in a fast-changing world. By working with the European Investment Bank, we are showing our commitment to using space technologies to benefit society and the financial sector. This partnership reflects our goal to support innovation and ensure that space activities in Europe are sustainable, secure, and competitive—for the good of everyone.” emphasizes Lex Delles, Minister of the Economy, SME, Energy and Tourism.

    Moreover, this collaboration underscores the importance of setting security standards and protocols for space data in the domain of finance. Both parties recognize that safeguarding the strategic autonomy of European financial transactions is crucial as they advance their efforts in utilizing space for finance technologies.

    The partnership will facilitate the development of new services driven by satellite data. By working together, the EIB and LSA aim to set new practices in the utilization of space technologies, driving growth and ensuring that Europe continues to lead in the development of space applications for finance.

    Background information   

    EIB Group

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, the EIB finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union and a stronger Europe in a more peaceful and prosperous world.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.    

    High-quality, up-to-date photos of the EIB Group’s headquarters for media use are available here. 

    About LSA

    Established in 2018 by the Ministry of the Economy, and placed under its authority, with the goal of developing the national space sector, the Luxembourg Space Agency fosters new and existing companies, develops human resources, facilitates access to funding and provides support for academic research. The agency implements the national space economic development strategy, manages national space research and development programs, and leads the SpaceResources.lu initiative. The LSA also represents Luxembourg within the European Space Agency, as well as the space related programs of the European Union and the United Nations.

    MIL OSI Europe News –

  • MIL-OSI Europe: Spain: ICF, EIB and CEB join forces to mobilise up to €400 million investment in social infrastructure in Catalonia

    Source: European Investment Bank

    • Institut Català de Finances (ICF) has signed a €100 million loan with the European Investment Bank (EIB) and a €50 million loan with the Council of Europe Development Bank (CEB).
    • The loans will support projects to develop care homes, day centres and assisted living facilities for the elderly, people with disabilities and other vulnerable groups in the region.
    • These agreements will allow ICF to finance non-profit social organisations, foundations, local administrations, public and private companies, unlocking up to €400 million in investment for social infrastructure projects.
    • The EIB loan is backed by InvestEU, an EU flagship programme to mobilise public and private sector investment to support EU policy goals.

    ICF, the public development bank of the Government of Catalonia, has signed a €100 million loan with the EIB to promote the construction and rehabilitation of social infrastructures in Catalonia, Spain. This is the first tranche of a loan approved for a total value of €150 million. ICF has also signed a €50 million loan with the CEB with the same aim. These agreements will allow ICF to finance non-profit social organisations, foundations, local administrations, public and private companies, unlocking up to €400 million investment for social infrastructure projects in the region.

    The loans will support the construction, refurbishment and improvement of care homes, day centres and assisted living facilities supporting the elderly, people with disabilities and other vulnerable groups across Catalonia. The financing provided by the three financial institutions is expected to support the creation of approximately 7.500 new residential care places in Catalonia. All funded projects must meet European sustainable building standards, specifically nearly-zero energy building (NZEB) requirements.

    María Serrano, EIB’s Head of Division Public Sector in Spain, remarked, “The EIB continues to strengthen its commitment to social infrastructure to meet the most pressing needs of Europe’s people. This financing agreement with the ICF will help to strengthen and expand the range of care facilities for elderly and dependent individuals in line with the highest standards of quality and sustainability, for the benefit of all”.

    As emphasised by Maria Sigüenza, the CEB’s Country Manager for Spain, “We are pleased to expand our ongoing partnership with ICF. This new loan reflects the CEB’s strong commitment to social inclusion and the reduction of inequality in Spain. Moreover, it exemplifies the importance of cooperation and joint action among multilateral development banks, such as the CEB and EIB, in building stronger communities and delivering high-impact social projects.”

    Vanessa Servera, CEO of the ICF, described the agreement as “a new success story in public-private cooperation,” emphasising that “the EIB and the CEB are providing the financial resources, we are taking on the management and financial risk, and it will be public entities and other actors that will launch the projects and investments the Catalan social services network needs to meet today’s and tomorrow’s challenges.”

    The agreement with ICF contributes to the EIB Group’s strategic priority of reinforcing Europe’s social infrastructure. This is one of the Group’s eight priorities set out in its Strategic Roadmap for the years 2024-2027.

    The EIB loan is guaranteed by InvestEU, the flagship EU programme to mobilise over €372 billion of additional public and private sector investment to support EU policy goals from 2021 to 2027.

    As the social development bank for Europe, investing in social infrastructure is the CEB’s main mission, as emphasised by its Strategic Framework 2023-2027. By signing the agreement with ICF, the CEB continues to respond flexibly to evolving social development and inclusion challenges in Spain.

    Background information

    ICF

    ICF has been the public promotional bank in Catalonia for 40 years, and in that period it has financed 37,000 clients for a total of €16 billion. Its main mission is to promote the financing of companies and entities in order to contribute to the growth, innovation and sustainability of the Catalan economy. ICF acts as a complement to the private sector, offering a wide range of financing solutions focused on loans, guarantees and investment in venture capital. Since 2014 it has been a member of the European Association of Public Banks (EAPB), which brings together a large number of the public promotional banks and financial entities operating in Europe.

    EIB

    The ElB is the long-term lending institution of the European Union, owned by the Member States. Built around eight core priorities, it finances investments that pursue EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

    The EIB Group, which also includes the European Investment Fund, signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

    All projects financed by the EIB Group are in line with the Paris Agreement, as pledged in the group’s Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects that contribute directly to climate change mitigation and adaptation, and a healthier environment.

    In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024, helping power the country’s green and digital transition and promote economic growth, competitiveness and better services for inhabitants.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    InvestEU

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects, leveraging on the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.

    CEB

    The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: TRA recommendation for new duties on Chinese excavators accepted

    Source: United Kingdom – Executive Government & Departments

    News story

    TRA recommendation for new duties on Chinese excavators accepted

    The Government has accepted the TRA’s recommendation to impose new anti-dumping and countervailing measures on imports of excavators from China to the UK.

    The Secretary of State for Business and Trade has accepted the TRA’s recommendation to impose new anti-dumping and countervailing measures on imports of excavators from China to the UK.

    The anti-dumping duties range from 18.81% for a sampled exporter to 40.08% for the residual rate; while the countervailing duties range from 0% to 2.98%. The TRA has estimated that the measures could benefit UK excavator producers by up to £26 million per year.

    The measures will be imposed on imports of excavators from China weighing 11 tonnes or more, but less than 80 tonnes as the TRA found that there is no UK industry for the production of excavators weighing 80 tonnes or above. The TRA has therefore determined that the UK industry would not be injured by these products.

    The TRA opened its investigation in November 2023 in response to an application from JCB, a Staffordshire-based multinational business. It found that Chinese exporters were able to use reduced production costs to price their exports below UK competitors who did not benefit from an artificially low-cost base.

    In February, Caterpillar (Xuzhou) Ltd. (CXL) launched a judicial review against the TRA and the Department of Business and Trade’s decision to impose provisional anti-dumping measures on imports of Chinese excavators.

    The judgment in the judicial review was handed down on 9 May, with the claims against both the TRA and Secretary of State for Business and Trade ruled as unarguable. The judge in the case concluded that the TRA, in its decisions surrounding the provisional anti-dumping measures, had acted lawfully, rationally and in a procedurally fair manner. The judgement did not affect the decision to apply definitive anti-dumping or countervailing measures.

    Background information:

    • The periods of investigation for both the anti-dumping and countervailing cases were 1 July 2022 – 30 June 2023.
    • The TRA is the UK body that investigates whether trade remedy measures are needed to counter unfair trading practices and unforeseen surges of imports.
    • Anti-dumping duties allow a country or union to act against goods which are being sold at less than their normal value – this is defined as the price for ‘like goods’ sold in the exporter’s home market.
    • Countervailing duties are designed to counteract government subsidies that cause material injury to domestic industries.
    • The judgement in the judicial review can be read in full here.

    Updates to this page

    Published 15 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Covid fraud investigations to be led by Insolvency Service

    Source: United Kingdom – Executive Government & Departments

    Press release

    Covid fraud investigations to be led by Insolvency Service

    Insolvency Service to take over NATIS’s ongoing covid fraud investigations

    DBT – COVID FRAUD INVESTIGATIONS TO BE LED BY INSOLVENCY SERVICE

    • Insolvency Service to take over NATIS’s ongoing covid fraud investigations
    • Decision comes after review of previous government contracts proved taxpayers’ money was not being spent efficiently
    • Government focussed on reducing waste in the public sector and recovering public money lost through pandemic-related fraud

    The Insolvency Service will take over NATIS’s viable investigation cases of Covid-19 financial support fraud in a bid to recoup taxpayers’ money lost to fraudsters.

    Following a review of National Investigation Service (NATIS) performance to ensure the state works for people – it showed that public money was not being spent effectively – which is why all ongoing viable cases will be transferred from the organisation to the Insolvency Service over the coming months.

    This is the latest move as part of the government’s Plan for Change to reduce waste in the public sector and reform institutions so they protect taxpayers money, and make the public sector more efficient and effective.

    The decision to appoint NATIS – an agency based in Thurrock Council – was taken under the previous government and has cost the taxpayer approximately £38.5 million. Despite this, NATIS has only secured 14 convictions with the overall amount recovered by NATIS remaining unclear.

    Within months of coming to power, this Government kicked off a review into their performance, to ensure public money is spent properly and not wasted. This investigation has revealed problems with NATIS governance and how recoveries are reported. As a result the government has asked The Government Internal Audit Agency (GIAA) to conduct an additional audit of NATIS to determine and report accurate recovery figures.

    Following this review, the department has taken decisive action to transfer cases to the Insolvency Service – who have a proven track record of effectively tackling fraud – giving taxpayers’ money the best possible value.

    Whilst over £46bn has been issued by lenders to support businesses, there have been over 100,000 cases of loss to fraud and error. This measure will ensure the continuation of ongoing investigations and expedite the recovery of millions estimated to be lost due to covid-era fraud.

    Business and Trade Minister Gareth Thomas said:

    Since coming to office, we have been clear that this government will protect taxpayers’ cash and remove unnecessary waste and inefficiency within the public sector.

    Today’s decision to transfer cases to the Insolvency Service will ensure lost funds from covid-era fraud are recovered more quickly and effectively, so they can be reinvested back into the economy and our public services, as part of our Plan for Change.

    The Insolvency Service will be taking responsibility for NATIS casework, helping to conclude investigations to continue the important work to claw back money for the public. 

    The Insolvency Service has a proven track record tackling fraud and misconduct connected to covid support schemes since 2020 using its powers to investigate trading companies, prosecute criminal offences, disqualify directors and impose bankruptcy restrictions. 

    By the end of March 2025, they had secured more than 2,000 director disqualifications as well as 62 criminal convictions, helping to secure more than £6 million in compensation related to COVID-19 financial support scheme abuse.

    Updates to this page

    Published 15 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Insolvency Service to take on the work of the National Investigation Service

    Source: United Kingdom – Executive Government & Departments

    Press release

    Insolvency Service to take on the work of the National Investigation Service

    Move will see transfer of casework relating to COVID-19 loan fraud

    Today the Department for Business and Trade has announced its intention to conclude its contract with the National Investigation Service (NATIS) and transfer existing casework, relating to COVID-19 Bounce Back Loan fraud, to the Insolvency Service.

    In response, Alec Pybus, Interim Chief Executive of the Insolvency Service said:  

    We welcome this decision by the Department of Business and Trade.  

    The Insolvency Service is well placed to take on these investigations as part of our ongoing and successful work tackling fraudulent use of COVID-19 loans. 

    We are working with our colleagues at the Department of Business and Trade and at Thurrock Council to deliver a smooth and swift transition of ongoing cases, and any potential transfer of staff.

    To date, the Insolvency Service has obtained disqualifications against 2,167 directors, bankruptcy restrictions against 343 individuals and successfully prosecuted 54 individuals in respect of COVID-19 financial support scheme misconduct.  

    The Agency has also helped to secure more than £6 million in compensation related to COVID-19 financial support scheme abuse. 

    The Agency already has plans to deliver further enforcement outcomes and financial recoveries in 2025/26, and will now work at pace to take on viable casework from NATIS in support of the UK Government’s drive to hold to account those who fraudulently claimed support during the pandemic.

    Further information

    Updates to this page

    Published 15 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Science Unites: Polytechnic and Universities of Uzbekistan Build a Sustainable Future

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Teachers of the Institute of Industrial Management, Economics and Trade of SPbPU took part in the largest scientific events in the leading universities of Uzbekistan – inKarshi State University and the Tashkent State Technical University named after Islam Karimov, and also held open lectures for students of the Tashkent State University of Economics.

    The international conference “Green Energy and Green Economy” was held at Karshi University, bringing together specialists from various countries. It was attended by teachers from three Higher Schools of IPMEiT: the Higher School of Engineering and Economics (HSE), the Higher School of Industrial Management (HSIM), and the Higher School of Service and Trade (HSST).

    Professor of VIES Alexander Babkin, at the invitation of the organizing committee, became a speaker, plenary speaker and moderator of the section “Formation of a green economy”. He presented a report on the topic “Green digital intelligent economy and Industry 5.0/6.0”, in which he outlined a new paradigm of a green intelligent economy based on the ESG concept, focusing on the rapid development of digital technologies both in the economy and industry.

    Interaction with specialists from the Faculty of Economics of Karshi State University has been going on for more than two years and is developing successfully. Having gathered on its site representatives of universities, scientific and public organizations, industrial enterprises, this conference has become a platform for exchanging knowledge and experience in the field of sustainable ESG development, – emphasized Alexander Vasilyevich.

    At the plenary session in an online format, Olga Kalinina, Director of the Higher School of Industrial Management, spoke with a report on the results of the work obtained by the teachers of the Higher School of Industrial Management, working within the framework of the bachelor’s and master’s degree programs in energy management.

    The second day of work was held in the format of sectional meetings, where the discussion of current issues on the conference topic continued. The sections in the online format were attended by teachers of the Higher School of Management and Management — associate professors Maxim Izmailov, Alexander Titov, Roman Okorokov and assistant Sergey Chayuk. They presented their scientific research in the field of strategies and methods for reducing the carbon footprint, prospects for using wave power plants in the context of digital transformation, features of digital transformation in the energy sector, as well as the practical application of artificial intelligence in the energy sector.

    The second significant event for the development of international cooperation of the Polytechnic University was the participation of IPMEiT teachers at the invitation of the Tashkent State Technical University named after Islam Karimov (TashSTU) in the international scientific and practical conference “Optimization of Industrial Economics and Management Based on Innovative Technologies: Modern Approaches”.

    Professor of VIES Alexander Babkin spoke at the plenary session with a report on the topic “The concept of digital strategizing the development of intelligent industrial ecosystems in the context of Industry 5.0/6.0”. At the plenary session of the TashSTU conference, Olga Kalinina, Director of the Higher School of Industrial Management, and Irina Zaychenko, Head of Educational Programs of the Functional Management Cluster, Associate Professor, spoke with a joint report on the topic: “The Role of Higher Education in the Sustainable Development of Society in the Training of Management Personnel for Industry in the Context of Digitalization”. In their speech, the colleagues highlighted the main features of training highly qualified personnel in the context of ensuring technological leadership.

    Our cooperation with the Department of Economics and Management in Industry of TashSTU, headed by Professor Gulchekhra Allaeva, began in April 2022. During this time, not only certain scientific results were achieved, but also partnership and friendly relations were established between our structural divisions. I hope that we will not stop there and will continue to increase cooperation, – Olga Kalinina noted.

    At the sectional meeting, Ekaterina Fedorakhina, an intern at the Higher School of Management and Management of Management, a 2nd-year Master of the educational program “Digital Business Management”, presented a report on the topic “Trends in the development of industry in the Russian Federation in the context of digital transformation.”

    The reports of our colleagues from St. Petersburg set a high scientific level for the discussion. Their approaches to training personnel are especially relevant for our educational environment, – emphasized the organizer of the conference, head of the Department of Economics and Management in Industry at TashSTU Gulchekhra Allaeva.

    Concluding the visit of Polytechnic representatives to universities in Uzbekistan, Acting Director of the Higher School of Public Administration Olga Nadezhina visited the Tashkent State University of Economics (TSUE), which is partner of our university from 2022.

    She took part in a methodological seminar for teachers, organized by the Department of Economic Security of TSUE, where key areas of development of personnel training in the field of AML/CFT were discussed, including the introduction of advanced educational and scientific practices of the HSSU IPMEiT, the organization of joint scientific events for teachers and students, and the development of partnerships between the educational structural divisions of the two universities.

    Cooperation between our universities opens new horizons for students and teachers, combining best practices and innovative approaches in education and science. I am confident that joint initiatives will make a significant contribution to the development of academic dialogue and the training of highly qualified specialists for our countries, Olga Nadezhina emphasized.

    In addition, lectures and practical classes on the course “Food Security” were held for TSUE students, which aroused great interest and facilitated the exchange of relevant knowledge in this area.

    Participation of IPMET representatives in major events of three universities of the Republic of Uzbekistan became another important step in strengthening scientific and educational cooperation and exchange of experience between Russian and Uzbek universities. Colleagues presented the results of fundamental, applied and methodological research that are part of the joint international research agenda in the field of green economy, industry and economic security in the context of digitalization and new reality, – summed up the work of IPMET representatives, Director of the Institute Vladimir Shchepinin.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Staff Completes the 2025 Article IV Mission to Singapore

    Source: IMF – News in Russian

    May 15, 2025

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • Singapore’s economy recovered in 2024 but is forecast to slow down in 2025 due to the recent escalation of global trade tensions. Inflation is expected to stay muted.
    • Fiscal and monetary policies are appropriately supporting the economy. Singapore has ample fiscal space to provide additional temporary and targeted support in case downside growth risks materialize.
    • Singapore’s financial sector remains sound and resilient, underpinned by well-capitalized and liquid banks. Potential financial sector risks from tightening global financial conditions should continue to be closely monitored.

    Washington, DC: An International Monetary Fund (IMF) team, led by Mr. Masahiro Nozaki, conducted discussions on the 2025 Article IV Consultation with the Singaporean authorities and other stakeholders from May 5 to May 15, 2025. At the conclusion of the discussions, Mr. Nozaki issued the following statement:

    “Singapore’s economy recovered strongly in 2024 and disinflation advanced. Growth increased to 4.4 percent in 2024, from 1.8 percent in 2023, supported by an upturn in the global technology cycle. Headline inflation decreased to 1.5 percent in end-2024 and further to 0.9 percent in March 2025, reflecting disinflation in both tradable and non-tradable prices.

    “However, the recent escalation of trade tensions and an associated spike in global policy uncertainty—as highlighted in the April 2025 World Economic Outlook—have sharply weakened Singapore’s economic outlook. Growth is projected to slow to 1.7 percent in 2025. Inflation is expected to stay muted, with headline inflation and Monetary Authority of Singapore (MAS) Core Inflation forecast at 1.1 percent and 1.0 percent in 2025, respectively, due to emerging slack in the economy and projected declines in commodity and other tradables prices from slower global growth.

    “There is a high degree of uncertainty around this forecast, reflecting elevated global economic and policy uncertainty. Risks to growth are firmly tilted to the downside, stemming from a possible further escalation of global trade tensions and a sharp tightening of global financial conditions. While risks to inflation are tilted to the downside due to weaker-than-expected global and domestic growth, potential upside inflation risks, including from possible supply chain disruptions, should also be monitored.

    “Against this backdrop, MAS appropriately loosened monetary policy in January and April 2025. In view of weak inflation, slowing growth, and emerging slack in the economy, staff sees scope for further monetary policy easing in the near term. However, MAS should remain vigilant and data dependent with respect to the speed and magnitude of easing in light of the large uncertainty, as well as both upside and downside risks around the inflation outlook.

    “The expansionary fiscal stance for FY2025 (April 2025-March 2026) is appropriate against the backdrop of slowing growth, increasing economic slack, and elevated downside risks. Continued support to households and firms will provide ongoing relief, while enhanced infrastructure spending will support domestic demand and help promote long-term growth. Singapore has ample fiscal space that can be deployed to provide targeted and temporary fiscal support in the event of downside risks materializing. Over the medium term, currently untargeted transfers should be phased out or better targeted to vulnerable households and firms. With strong fiscal institutions and buffers, Singapore is well positioned to meet its medium-term fiscal spending needs, including for rising healthcare costs due to an aging population, scaling up high-quality public infrastructure, and strengthening social safety nets.

    “Singapore’s financial sector is resilient. Banks are well capitalized, have ample liquidity, and are profitable. The authorities’ regulatory and supervisory efforts have contained existing financial sector vulnerabilities, including from cross-border exposure, reliance on foreign exchange funding, residential and commercial real estate exposures, interconnectedness between banks and nonbank financial institutions (NBFIs), and exposures to relatively small segments of highly leveraged corporates and households. Nonetheless, in view of the risk of a sharp tightening of global financial conditions, continued vigilance is warranted against these vulnerabilities.

    “We welcome the steady implementation of the authorities’ Forward Singapore initiative, including enhanced paid parental leave to support young families; enhanced grants for low-income first-time home buyers to improve housing affordability; and additional transfers to improve the retirement adequacy for low-income workers and retirees. The introduction of temporary financial support for involuntarily unemployed individuals has helped strengthen Singapore’s social safety nets. The government continues to make progress with helping workers to reskill and firms to adopt AI technologies.

    “The IMF team would like to thank the authorities and other counterparts for their close collaboration and productive discussions.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

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

    https://www.imf.org/en/News/Articles/2025/05/15/pr25147-singapore-imf-completes-2025-aiv-mission

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Economics: Samsung Marks Global Accessibility Awareness Day with a Unique Sound Experience At St Paul’s Cathedral

    Source: Samsung

     
    LONDON, U.K. – May 15, 2025: Samsung Electronics celebrated Global Accessibility Awareness Day this year with a week of accessibility events and workshops in the U.K. The company’s third edition of Accessibility Festival Week was brought to a close with a groundbreaking event at St Paul’s Cathedral in London, aimed at bringing customers, partners and employees together, through a unique sound experience.
     
    In collaboration with hearing-aid provider, GN, and Ampetronic, Samsung showcased Auracast technology to attendees wearing Galaxy Buds3 Pro or GN hearing aids, which allows a single device to broadcast to multiple receivers, to embark on a unique journey of shared listening.
     
    Attendees experienced the famous London Cathedral through a guided tour and choir performances. Audio of this experience was broadcasted using Auracast microphones and transmitters directly into participants’ Galaxy Buds3 Pro or GN hearing aids, eliminating background noise to enhance clarity.
     

     
    Auracast & LE Audio
    Introduced in 2022 by the Bluetooth Special Interest Group (SIG), Low Energy (LE) Audio is an updated standard for Bluetooth technology. It enables more power-efficient and higher-quality wireless transmission of audio from a broadcasting device such as a smartphone, to a receiver such as earbuds.
     
    Auracast is a feature of LE Audio that allows broadcasting from an audio source to multiple audio receivers, including earbuds and hearing aids, turning phones or TV’s into a radio station. It revolutionises audio experiences by enabling multiple devices to connect to a single audio source, fostering an inclusive listening environment. It also enhances audio clarity by reducing background noise, making it ideal for echo-prone venues like cathedrals and museums. Additionally, Auracast offers personalised sound settings, ensuring that users can tailor audio to their preferences and hearing needs, whether enjoying an audio tour or watching TV at home.
     
    Samsung has led efforts to ensure LE Audio compatibility for mobile devices and hearing aids. Since 2022, the company has been pushing for the expansion of LE Audio, introducing 360 Audio Recording and later adopting Auracast through the Buds2 Pro software update.
     
    Samsung’s commitment to hearing accessibility
    Among other areas, Samsung’s mission to redefine hearing accessibility has led to an unprecedented collaboration between mobile technology and hearing-aid innovation. With Auracast, Samsung bridges the gap between consumer audio and hearing devices, crafting a seamless, intelligent, and connected listening experience.
     
    Beyond Personal Audio: Now, both Galaxy Buds and hearing-aid users can tune into the same audio simultaneously, without limitations.
    Beyond Phones: When moving from your smartphone to TV, or from public to private spaces, sound stays with you—with no need to manually pair your device to each new transmitter. Anyone nearby can tune in freely to a shared audio stream, just like joining a public Wi-Fi.
    Beyond Boundaries: Whether at a stadium, airport or cafe, personalised audio is accessible in any setting.
     

    Accessibility Festival Week
    Ahead of bringing this vision to life at St Paul’s Cathedral, Samsung hosted its third annual Accessibility Festival Week (AFW) in London. The festival aims to reinforce the company’s commitment to accessibility and foster collaboration across departments and regions. Participants joined a host of activities,  including ‘Inspiration Tours’ exploring inclusive design practices at Samsung KX and Google’s Discovery Centre. Staff were invited to attend a number of accessibility workshops, and this was followed by a keynote session led by Simon Sung, President and CEO of Samsung Electronics Europe, and Jinsoo Kim, Head of the Samsung Accessibility Committee, who shared the company’s accessibility strategy and vision for inclusive innovation.
     
    A recent study by Samsung UK and OnePoll revealed that over two-thirds (68%) of UK adults with disabilities feel excluded from products and services due to accessibility issues, highlighting a significant gap in mainstream brands’ efforts to cater to diverse needs. 80% of respondents believe brands are missing out by neglecting inclusive design, while 72% have abandoned purchases due to inaccessible design.
     
    Speaking on this week’s activity of events, Charlotte Grant, Head of People Experience, Samsung UK, said: “At Samsung, we are proud of our ongoing commitment to increasing the accessibility of experiences through our innovation and we were delighted to partner with GN and Ampetronic to showcase Auracast at St Paul’s Cathedral. It was fantastic to take people through a innovative experience with inclusive technology  and a great way to end our Accessibility Festival Week in the UK. We are committed to directly involving our customers and employees in our decision-making by taking on their feedback to improve our products and services, and help support our mission to inspire a culture of inclusive design across our organisation, into our products and beyond.”
     
    To read more about Samsung’s commitment to accessibility, please visit: Accessibility | Samsung UK
     
    About GN 
     
    GN brings people closer through our leading intelligent hearing, audio, video, and gaming solutions. Inspired by people and driven by innovation, we deliver technologies that enhance the senses of hearing and sight. We help people with hearing loss overcome real-life challenges, improve communication and collaboration for businesses, and provide great experiences for audio and gaming enthusiasts.
     
    GN was founded more than 150 years ago with a vision to connect the world. Today, inspired by our strong heritage, GN touches more lives than ever with our unique expertise and the broadest portfolio of products and services in our history – bringing people closer to what is important to them.
    We market our solutions with the brands Jabra, ReSound, SteelSeries, Beltone, Interton, BlueParrott, Danavox, and FalCom in 100 countries. Founded in 1869, GN Group employs more than 7,000 people and is listed on Nasdaq Copenhagen (GN.CO).
     
    Visit GN.com and connect with us on LinkedIn, Facebook and  X.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Speech by SCED at APEC MRT Meeting discussion session on AI Innovation for Trade Facilitation (English only)

    Source: Hong Kong Government special administrative region

         â€‹Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the discussion session entitled “AI Innovation for Trade Facilitation” at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting in Jeju, Korea, today (May 15):
     
         Good afternoon, Chair and fellow Ministers.
     
         Let me begin by expressing my sincere gratitude to Korea for the warm hospitality extended to the Hong Kong, China (HKC) delegation and for hosting us in this beautiful island of Jeju.
     
         Digitalisation, coupled with artificial intelligence (AI), has been quickly transforming businesses, unlocking new opportunities, and redefining how goods and services move across borders these days. As part of HKC’s wider efforts in developing the AI industry, we have, as early as in 2022, set out clear strategic directions and a detailed action plan for promoting the development of AI in our Hong Kong Innovation and Technology Development Blueprint.
     
         HKC is also keen to embrace the transformative power of AI in trade. For instance, innovative technologies such as AI-powered tools have been adopted to ensure effective enforcement controls while streamlining customs clearance procedures. Our final phase of the Trade Single Window will establish a highly automated cargo risk assessment engine to expedite clearance using AI, and we expect this to be rolled out next year. Our Customs and Excise Department is also modernising its information technology infrastructure, thus enabling the use of a sophisticated data pipeline with the latest AI technologies.
      
         As with every new innovative development, whilst we grasp the opportunities and benefits, it is at the same time crucial to ensure such developments are ethical, responsible and inclusive. To this end, HKC has adopted a pro-innovation regulatory approach to construct a well-balanced governance framework that could cater to all stakeholders in the AI ecosystem. Just a few weeks ago, the Hong Kong Generative Artificial Intelligence Technical and Application Guideline was released to provide practical operational guidelines for technology developers, service providers and users in the application of generative AI technology. Furthermore, we plan to amend our legislation in order to further enhance HKC’s copyright regime regarding protection for AI technology development.
     
         We recognise that AI is utilised across different sectors, with trade being just one of them. We are also acutely aware that there are a number of ongoing discussions in international forums to discuss AI development, including rules setting and governance. This notwithstanding, we see much room for collaboration amongst member economies on AI in trade, particularly on its applications for trade facilitation measures and customs procedures in APEC.
     
         In the current era with rising protectionism and unilateralism, it has become even more important for APEC to showcase to the world that regional economic co-operation in the area of AI matters and can bring benefits to the people of the entire region. APEC should leverage its role to foster regional dialogue on ensuring safe and responsible use of AI for trade, exchange experiences and knowledge, promote public-private collaboration, enhance transparency of regulatory frameworks, and strengthen partnerships among member economies, taking into account the different development stages of member economies.
     
         HKC is ready to contribute and collaborate with fellow member economies to harness AI for trade and to drive high-quality growth across the region.
     
         Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by SCED at APEC MRT Meeting discussion session on Connectivity through Multilateral Trading System (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the discussion session entitled “Connectivity through Multilateral Trading System” at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting in Jeju, Korea, today (May 15):

         Good afternoon, Chair, WTO Director-General (Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala), and colleagues.

         The recent upheaval caused by one economy’s unilateral tariff measures on all other economies poses a threat to the multilateral trading system, representing an imminent challenge to the global trade landscape today.

         We are pleased to note the substantive progress made at the high-level meetings between two economies, where both sides have agreed to significantly reduce their bilateral tariffs and continue discussions in a spirit of openness, continuous communication, co-operation and mutual respect. This development marks a pivotal step towards fostering stability in global trade and reinforces our shared commitment to advancing constructive economic relations within the APEC region and beyond. Continued collaboration under this framework will undoubtedly contribute to inclusive growth and a rules-based multilateral trading system.

         Hong Kong, China (HKC), as one of the freest economies in the world, reaffirms our unwavering commitment to free trade principles and the WTO-centred multilateral trading system. We firmly believe that sustainable solutions to trade disputes can only be achieved through constructive dialogue, adherence to internationally agreed rules, and a shared pursuit of equitable outcomes. We call upon all members to unite in defending the open, predictable and inclusive character of global trade.

         As the WTO commemorates its 30th anniversary this year, it is deeply disheartening to witness one of its founding members attempting to rip the organisation apart, after years of unilateral action in crippling its dispute settlement function. While reforms are indeed necessary to keep the decades-old organisation relevant amid evolving global challenges, aggressive and erratic trade actions that create economic chaos only serve to escalate tensions and instability.

         As a free port, HKC has long championed free trade in the past and remains firmly committed to the rules-based multilateral trading system now and in the future. We remain committed to engaging in constructive dialogues to enhance the WTO’s functionality, resilience and effectiveness. At this critical time, we call on APEC member economies who cherish the multilateral trading system to collaborate closely to uphold and strengthen the system, thereby safeguarding global economic stability.

         Looking ahead to the 14th Ministerial Conference (MC14) which is less than a year away, with the rapidly evolving situation, telling what lies ahead until then may seem elusive. Nevertheless, HKC remains hopeful and determined to achieve tangible and positive outcomes at MC14 – many of which are in fact long overdue. Beyond the dispute settlement reform, our priorities include bringing into force the Agreement on Fisheries Subsidies and concluding the second wave of the fisheries subsidies negotiations, both of which are still so near, yet so far. We must strive to finish the unfinished business at MC13 to incorporate the plurilateral Investment Facilitation for Development (IFD) Agreement into the WTO legal architecture. In this regard, we fully support the APEC Statement in support of the WTO Joint Statement Initiative on IFD, championed by Korea, which would send a strong political signal of APEC’s commitment to the swift and successful integration of this landmark agreement into the WTO framework.

         We also stand by finding a permanent solution to, or at least securing an extension of the WTO e-commerce moratorium, and support the early incorporation of the Agreement on Electronic Commerce into the WTO legal framework, which will provide the much needed clarity and stability for e-commerce business worldwide. We strongly encourage APEC member economies to intensify collaborative efforts to achieve these goals by MC14. Demonstrating concrete progress will assure the global community that the WTO remains vibrant, effective and capable of addressing contemporary trade challenges effectively.

         Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SCED urges APEC member economies to unite in defending rules-based multilateral trading system (with photos)

    Source: Hong Kong Government special administrative region

         The Secretary for Commerce and Economic Development, Mr Algernon Yau, stressed the importance of upholding the rules-based multilateral trading system at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Jeju, Korea, today (May 15).
     
         Speaking at the session entitled “Connectivity through Multilateral Trading System”, Mr Yau said that the recent upheaval caused by unilateral tariff measures poses a threat to the multilateral trading system, representing an imminent challenge to the global trade landscape. The substantive progress made at the high-level meetings between two economies, where both sides have agreed to significantly reduce their bilateral tariffs and continue discussions in a spirit of openness, continuous communication, co-operation and mutual respect, marked a pivotal step towards fostering stability in global trade and reinforces the shared commitment to advancing constructive economic relations within the APEC region and beyond.
     
         He pointed out that, as a free port, Hong Kong has long championed free trade in the past and remains firmly committed to the rules-based multilateral trading system now and in the future. Hong Kong also remains committed to engaging in constructive dialogues to enhance the World Trade Organization (WTO)’s functionality, resilience and effectiveness.
     
         Mr Yau called upon member economies to unite in defending the open, predictable and inclusive character of global trade and to collaborate closely to uphold and strengthen the system, thereby safeguarding global economic stability.
     
         Meanwhile, Mr Yau encouraged member economies to intensify collaborative efforts to finish the unfinished business at the 13th WTO Ministerial Conference, such as bringing into force the Agreement on Fisheries Subsidies, and incorporating the plurilateral Investment Facilitation for Development Agreement into the WTO legal architecture. Demonstrating concrete progress will assure the global community that the WTO remains vibrant, effective and capable of addressing contemporary trade challenges effectively.
     
         At another discussion session entitled “AI Innovation for Trade Facilitation”, Mr Yau said that digitalisation, coupled with AI, has been quickly transforming businesses, unlocking new opportunities, and redefining how goods and services move across borders these days.
     
         He noted that Hong Kong is keen to embrace the transformative power of AI in trade. For instance, innovative technologies such as AI-powered tools have been adopted to ensure effective enforcement controls while streamlining customs clearance procedures. The final phase of the Trade Single Window will establish a highly automated cargo risk assessment engine to expedite clearance using AI.
     
         Mr Yau said that while there are a number of ongoing discussions in international forums to discuss AI development, including rules setting and governance, there is much room for collaboration among member economies on AI in trade. He added that in the current era with rising protectionism and unilateralism, it has become even more important for APEC to showcase to the world that regional economic co-operation in the area of AI matters and can bring benefits to the people of the entire region. He added that Hong Kong is ready to contribute and collaborate with fellow member economies to harness AI for trade and to drive high-quality growth across the region.
     
         On the margins of the MRT Meeting today, Mr Yau met with the China International Trade Representative and Vice Minister of Commerce, Mr Li Chenggang; the Deputy Minister for Trade of Korea, Mr Park Jong-won; as well as the Minister for Trade and Investment of New Zealand, Mr Todd McClay, separately to exchange views on various issues of mutual concern.
     
         Mr Yau also paid a courtesy call on the Governor of Jeju Special Self-Governing Province, Mr Oh Young Hun, yesterday (May 14) to give him an update on the latest developments of Hong Kong and exchange views on promoting closer bilateral relations.
     
         Mr Yau will continue to join the MRT Meeting tomorrow (May 16).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Joint press release of PBoC, SFC and HKMA on further enriching product types of Swap Connect to facilitate high-level opening-up of Mainland’s financial markets

    Source: Hong Kong Government special administrative region

    Joint press release of PBoC, SFC and HKMA on further enriching product types of Swap Connect to facilitate high-level opening-up of Mainland’s financial markets 
    To further promote the collaborative development of financial derivatives markets on the Mainland and in Hong Kong, as well as the high-level opening-up of Mainland’s financial markets, after assessing the operational experience of Swap Connect and feedback from Mainland and offshore investors, the People’s Bank of China, the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority plan to further enrich the product types under Swap Connect. First, the tenor of interest rate swap contracts would be extended to 30 years to meet the diverse risk management needs of market institutions. Second, the product scope of Swap Connect would be expanded by including interest rate swap contracts using the Loan Prime Rate (LPR) as the reference rate. Relevant financial infrastructure operators in both markets will roll out these enhancement measures progressively.
     
    Looking ahead, regulatory authorities on the Mainland and in Hong Kong will continue to provide guidance to the financial market infrastructure operators in both markets to continue to enhance relevant arrangements, taking into account the operation experience of Swap Connect, with a view to steadily advancing the further opening-up of Mainland’s financial markets, promoting RMB internationalisation in a steady, orderly and sound manner, and supporting the successful development of Hong Kong as an international financial centre.
    Issued at HKT 17:12

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: President Meloni’s statement on America’s Cup in Naples

    Source: Government of Italy (English)

    I am proud to announce that, for the first time in history, the America’s Cup will be held in Italy.

    In 2027, Naples will be the host city for the 38th edition of the world’s most famous and prestigious sailing competition, a global event involving millions of enthusiasts and representing a unique blend of tradition, technological innovation, engineering excellence and competitive spirit.

    I wish to thank Minister for Sport and Youth Andrea Abodi, Minister of Economy and Finance Giancarlo Giorgetti, Mayor of Naples Gaetano Manfredi, Sport e Salute S.p.A., and all those who have worked, with passion and determination, to achieve this great result.

    The choice of the Parthenopean capital will contribute to strengthening the renewed leading role of the South of Italy, which in recent years has been able to rediscover its dynamism and pride, recording GDP growth and employment levels above the national average.

    The America’s Cup being organised in Naples will also allow for an acceleration of the substantial redevelopment and regeneration plan launched by the Government to transform the city’s Bagnoli area into a modern tourism, seaside and commercial hub.

    The choice of Italy fills us with pride, as it is recognition of our Nation’s very identity. Indeed, without the sea, we would not be what we are. The sea is history, identity and culture, but is also an irreplaceable part of our production and economic system, thanks to our position of leadership in the boating, shipbuilding, shipowning and cruise industries as well as in many other areas linked to the blue economy.

    We look forward to welcoming the America’s Cup. Italy will be up to this challenge, and will once again show the world what it is capable of.

    [Courtesy translation]

    MIL OSI Europe News –

  • MIL-OSI Russia: Feature: U.S. Builders Suffer Tariffs as Costs Continue to Rise

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    LOS ANGELES, May 15 (Xinhua) — Just over a month after the U.S. administration imposed massive tariffs on its trading partners, David Truong, a manager at DuiDui Construction in Los Angeles, California, is already facing rising costs.

    “The prices of almost all construction materials have continued to rise in recent months,” D. Truong told Xinhua. “Construction of new houses is becoming more expensive every day.”

    D. Truong showed a construction site in Temple City, Los Angeles County, where the effects of the tariffs are visible to the naked eye. For example, a faucet used to cost about $160; now it costs at least $200. A steel-framed window that used to cost just over $300 now sells for more than $370.

    The biggest increase is in lighting fixtures. “A recessed LED light that used to cost $12 to $15 is now about $30,” he explained. “This house needs over 20 of them, so we’re spending an extra $300 to $400 just on lighting.”

    The sharp rise in tariffs is adding nearly $11,000 to the cost of building a new home in the U.S., according to April data from the National Association of Home Builders (NAHB), one of the nation’s largest trade associations.

    “The disruptions caused by tariffs make it difficult for developers to accurately price and make important business decisions,” NAHB Chief Economist Robert Dietz said in an April press release.

    According to Anirban Basu, chief economist at the Associated Builders and Contractors (ABC), building materials prices rose 9.7 percent year-on-year in the first quarter of 2025.

    “While contractors are currently busy, this rate of price increases and the associated uncertainty will lead to delays and project cancellations if the situation continues for a long time,” he said.

    Rising costs have cut into D. Truong’s company’s profits, forcing him to raise his rates. In Temple City, his company’s cost to build a new home has risen from $220 to $250 per square foot. In more challenging locations in other cities, the price can reach $280 per square foot.

    Truong’s company is not alone in facing difficulties. Many contractors are experiencing similar problems: The prices of materials such as wiring, PVC pipes and cabinets have skyrocketed. As a result, many are having to renegotiate contracts with clients to share the financial burden.

    But rising prices aren’t the only thing that worries D. Truong and other developers. The biggest concern, he said, is a potential shortage of materials. “Our biggest fear is that some materials will soon disappear from the market, no matter how much we are willing to pay for them,” he said. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Annual inflation in Mongolia in April 2025 was 8.6 percent.

    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

    ULAN BATOR, May 15 (Xinhua) — Mongolia’s annual inflation rate stood at 8.6 percent in April 2025, local media reported on Thursday, citing data from the country’s National Statistical Committee.

    The rise in inflation in Mongolia is due to the increase in real estate prices and tariffs for housing and communal services, water, electricity, gas and other types of fuel /21.7 percent/, educational services /18.2 percent/, catering services, accommodation in hostels and hotels /16.7 percent/, food products, soft drinks and mineral water /10.5 percent/ and clothing, textiles and footwear /9.1 percent/, the official statement says.

    Currently, the Central Bank of Mongolia is working to maintain the inflation rate within 5 percent (plus or minus 2 percentage points) in order to ensure macroeconomic and financial stability in the medium term.

    According to the Central Bank, in March 2025, annual inflation in Mongolia was 9.1 percent. At the same time, in the capital Ulaanbaatar, where more than half of the country’s 3.5 million population lives, this figure rose to 10.1 percent.

    Mongolia’s economy is expected to grow by 6.6 percent in 2025. According to experts from the Asian Development Bank, the country’s economic growth will be mainly supported by an increase in mining, in particular an increase in copper concentrate production at the Oyu Tolgoi deposit, as well as by robust domestic demand, investment in infrastructure and a gradual recovery in agriculture. –0–

    MIL OSI Russia News –

  • MIL-OSI: Best Instant Loans Online Guaranteed Approval Direct Lenders No Credit Check – IOnline Payday Loans

    Source: GlobeNewswire (MIL-OSI)

    SHERIDAN, Wyo., May 15, 2025 (GLOBE NEWSWIRE) — When unexpected expenses occur, waiting days for loan approval isn’t an option. Instant loans online with guaranteed approval offer a quick solution, especially for those with bad credit.

    >> Click Here to Apply for Instant Loans >>

    Unlike traditional banks, these loans focus on your repayment ability, not your credit score. Platforms like IOnline Payday Loans offer instant loans online guaranteed approval process. It will connect you to trusted lenders and help you access emergency funds within hours.

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    What Are Best Payday Loans for Bad Credit?

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    For individuals with poor credit scores, payday loans for bad credit offer a practical solution. Unlike banks that focus heavily on credit history, payday lenders emphasize your current income and ability to repay. This increases your chances of approval, even if your credit score is low or non-existent.

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    Other Types of No Credit Check Payday Loans

    Aside from the classic payday loan, there are a couple of other products that are exempt from the credit check stipulation, but that serve other purposes. They are all for the same purpose, fast money with no hassle of rigorous credit checks, but slightly different in shape and payback.

    One of those options is the installment payday loan. While most payday loans require you to pay it back in one lump sum on your next payday, installment loans let you pay it back in smaller, easier-to-handle monthly payments. This is ideal if you need a bit larger loan but don’t want to have to make the repayments.

    A different popular choice is the $255 payday loans online same day. Microloans are best suited for small, urgent expenses in which time matters. Money is typically disbursed within hours and is best used in emergencies.

    For extremely quick requirements, there are also 1 hour payday loans no credit check provided by some lenders. These are designed for urgency, and you’re approved and money in just one hour after application.

    Additionally, no credit check personal loans direct lenders provide slightly higher sums with flexible repayment conditions, ideal for those who want something more than a quick fix but do not want to be judged on credit scores.

    Websites such as IOnline Payday Loans enable you to search these options with ease by connecting you with trustworthy lenders who specialize in no credit check loans that are appropriate for your requirement.

    Wrapping Up

    At times of financial crises, waiting for conventional loan approvals is not feasible, particularly when you have a bad credit record. Instant loans with guaranteed approval online are a trustworthy option at such times. Websites such as IOnline Payday Loans make lending easy, enabling you to receive instant cash in hand without undergoing the time-consuming process of hard credit checks or waiting for long.

    Regardless of whether you need a quick $255 online same day payday loan or a larger short-term loan, IOnline leads you to responsible lenders who prioritize your current ability to repay. With easy qualifications, rapid approvals, and straightforward terms, IOnline Payday Loans is an ideal choice for you if you need quick money whenever you need it most.

    Remember, although “guaranteed approval” implies high approval rates, responsible lending must be practiced. Always borrow what you can afford and carefully read the terms of repayment.

    Frequently Asked Questions

    1.   Are guaranteed payday loans for bad credit really available?

    “Guaranteed approval” in payday loans means your chances of approval are much better even with a bad credit history. But no lender can give 100% guaranteed approval without first checking your basic eligibility and paying ability.

    Sites such as IOnline Payday Loans are comprised of lenders who specialize in instant bad credit payday loans and offer you a high approval probability if you meet with minimal income and ID requirements.

    2.   Will my credit rating be affected?

    No, applying for a IOnline Payday Loans payday loan doesn’t have an impact on your credit score. The site matches you up with no credit check direct lenders for payday loans who consider how much money you earn, not your history.

    They are able to perform a soft check, but it does not affect your credit score, so it is not dangerous for borrowers who want to avoid lowering their score any more.

    3.   Are these loans available in every state?

    Availability of payday loans is governed by the states. There are states with prohibitive lending laws that limit or prohibit payday loans.

    IOnline Payday Loans has lending partners in the U.S., but your eligibility will be governed by the laws of your state. Review the payday lending laws in your state before applying to comply.

    Project Name: IOnline Payday Loans

    Disclaimer: This announcement contains general information about Ionline payday loan services and should not be considered financial advice. Ionline Payday Loans does not guarantee loan approval, and loan terms may vary by applicant and lender requirements. Loans are available to U.S. residents only.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aaa98012-fff5-49be-98e0-27b1f1bb4ebb

    The MIL Network –

  • MIL-OSI Russia: Financial News: Trading in a New Bond Fund with Target Maturity Dates Starts on Moscow Exchange

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    On May 15, 2025, trading in the exchange-traded mutual investment fund (EPIF) “DOKHOD. Bonds until December 2025/2028/2031” under the management of MC “DOKHOD” began on the Moscow Exchange stock market. Trading code – BND.

    The fund’s assets are invested primarily in highly liquid corporate bonds maturing closer to December 1, 2025. The fund may also invest in OFZs and regional bonds for additional diversification. After the target date, the fund’s strategy is automatically extended for three years. The number of extensions is not limited.

    BNDA is the third and final mutual fund from the line of funds of the management company “DOKHOD” with target dates. Earlier, the Moscow Exchange began trading in exchange-traded bond funds with target maturity dates in December 2026 and December 2027 (trading codes – BNDB And BNDC respectively).

    Coupon payments and redemption amounts are reinvested in the fund. This allows investors to defer the payment of personal income tax until the moment of sale of shares, as well as to take advantage of the benefit for long-term ownership of shares (more than three years).

    The fund is available to non-qualified investors, transactions with shares can be concluded during the main and evening trading sessions of the Moscow Exchange stock market. The cost of a share at the start of trading is 1,000 rubles, the minimum purchase volume is one share. The maximum remuneration of the management company for managing the fund is 0.48% per annum.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MEEX.K.M.M.

    MIL OSI Russia News –

  • MIL-OSI China: Announcement on Open Market Operations No.91 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.91 [2025]

    (Open Market Operations Office, May 15, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB64.5 billion through quantity bidding at a fixed interest rate on May 15, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB64.5 billion

    RMB64.5 billion

    Date of last update Nov. 29 2018

    2025年05月15日

    MIL OSI China News –

  • MIL-OSI China: China’s financial policy package injects cash and confidence to economy

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

    BEIJING, May 15 — A 0.5 percentage-point reduction in the reserve requirement ratio (RRR) for eligible financial institutions takes effect Thursday, with the move expected to inject roughly 1 trillion yuan (about 139 billion U.S. dollars) of long-term liquidity into China’s financial market.

    The RRR cut, the first such move since the start of this year, came after the seven-day reverse repos rate cut by 0.1 percentage point by the Chinese central bank, which already took effect on May 8.

    The reduction in RRR and reverse repos rate, along with expanding re-lending facilities and sci-tech innovation bonds issuance, were among a raft of supportive measures announced last week by monetary and financial regulatory bodies, as the world’s second-largest economy steps up efforts to stabilize markets and sustain economic recovery amid external headwinds.

    Analysts believe this package of supportive financial policies, by boosting liquidity supplies and reducing borrowing costs for both businesses and residents, will create a favorable financial environment for stabilizing market expectations and make an impact on consumption growth and economic restructuring.

    GROWING LIQUIDITY SUPPORT

    These supportive policies are in line with the guiding principles unveiled at a meeting of the Political Bureau of the Central Committee of the Communist Party of China in April, which called for efforts to accelerate the implementation of more proactive and effective macro policies and make full use of a more proactive fiscal policy and a moderately loose monetary policy.

    Maintaining ample liquidity through measures such as the RRR cut can provide sufficient resources for financial institutions and support lending to the real economy, while the reduction in interest rates and innovation in structural monetary policy tools will help stimulate effective domestic demand, a view broadly shared by experts.

    “A 0.5 percentage-point cut in the RRR will effectively meet the market’s demand for long-term liquidity,” said Dong Ximiao, chief researcher at Merchants Union Consumer Finance Company Limited.

    Also starting Thursday, the RRR for auto financing and financial leasing companies is slashed by 5 percentage points to zero percent, with the cut expected to increase the credit supply capacity of these two types of institutions in their respective fields.

    Dong said that this notable RRR cut targeting auto financing and financial leasing companies has drawn much market attention because of their anticipated impact on boosting car consumption and equipment upgrade investment.

    REDUCED BORROWING COSTS

    China’s central bank governor Pan Gongsheng said last week that the seven-day reverse repos rate cut is expected to result in the loan prime rate (LPR), a market-based benchmark lending rate, dropping by 0.1 percentage point.

    Effective on May 8, the interest rates on personal housing provident fund loans were also lowered by 0.25 percentage points. Meanwhile, the rate of re-lending, a structural monetary tool via which the central bank provides loans to financial institutions, was also lowered by 0.25 percentage points starting from May 7, with the cut aiming to guide financial institutions to enhance financial support for the nation’s key strategies and development fields as well as weak links.

    Chen Wenjing, director of policy research at the China Index Academy, said that the reduction in the interest rate for personal housing provident fund loans is expected to further alleviate the pressure on residents to purchase houses and boost home purchase demand. “With more supporting policies gradually being implemented, housing demand is expected to be further strengthened, which will help shore up the real estate market.”

    Based on the central bank’s announcements last week, the total re-lending facility quota, including increased quota and newly established quota, will reach 1.1 trillion yuan for the areas spanning agriculture, private firms, sci-tech innovation, services consumption and elderly care.

    Analysts say the adjustment and optimization of the structural monetary policy tools are in line with the nation’s economic restructuring efforts and are geared toward promoting consumption and sci-tech innovation, with all these recent supportive policies helping boost market confidence amid external uncertainties.

    Wang Qing, chief macro analyst of Golden Credit Rating, believed that there is still room for further easing in China’s moderately loose monetary policy going forward, which will continue to provide key support for effectively hedging against external shocks and maintaining the economy’s stable growth.

    MIL OSI China News –

  • MIL-OSI: ZA Miner Simplifies Passive Income Through Secure and Sustainable Cloud Mining

    Source: GlobeNewswire (MIL-OSI)

     
    Image by ZA Miner

    LONDON, May 15, 2025 (GLOBE NEWSWIRE) — In response to the growing global interest in passive income and cryptocurrency, ZA Miner has officially launched its advanced cloud mining platform, designed to make crypto earnings accessible, sustainable, and secure for users of all experience levels.

    Founded in 2020, ZA Miner combines advanced mining technology with renewable energy sources like solar and wind. The platform’s fully automated system allows users to start earning in three simple steps: create an account, choose a contract, and receive daily payouts. Mining outputs are processed every 24 hours, providing a truly passive income experience.

    “We built ZA Miner to make cryptocurrency mining simple, profitable, and environmentally responsible,” said a spokesperson for ZA Miner. “By eliminating barriers like expensive hardware and technical setup, and by powering our operations with solar and wind energy, we’ve created a future-focused solution for individuals looking to grow their income sustainably.”

    Eco-Friendly and Secure Cloud Mining

    ZA Miner stands out by fully powering its operations using renewable energy, including solar panels and large-scale wind turbines. This not only significantly reduces the platform’s carbon footprint but also contributes to a growing global movement toward green blockchain technology.

    In addition to environmental sustainability, security is a top priority. The platform uses offline cold wallets to protect user funds, combined with McAfee® SECURE and Cloudflare® SECURE protections to defend against cyber threats. This layered security approach ensures that users can mine with peace of mind.

    Flexible Investment Options

    ZA Miner offers multiple contract plans to suit different budgets and financial goals. Whether users are looking for a small investment or planning to scale, they can select a package that fits their needs and begin generating passive income immediately.

    Key Features:

    • Daily Payouts: Automated 24-hour mining rewards.
    • Clean Energy Mining: 100% powered by solar and wind energy.
    • Strong Security: Cold wallet storage and advanced online protection.
    • Expert Team: Run by experienced blockchain and IT professionals.
    • Simple Start: No hardware or technical skills required.

    Start earning passive crypto income today. Visit www.zaminer.com to create your free account and explore cloud mining plans that fit your goals.

     
    Unlock after-sleep income with ZA Miner

    About ZA Miner

    ZA Miner is a UK-based cloud mining platform founded in 2020. It provides secure, automated mining services powered by renewable energy. The platform offers flexible plans, daily earnings, and strong security features, making passive crypto income accessible to everyone.

    Media Contact:
    SHEIKH, Anisah Fatema
    ZA FUNDINGS LTD
    info@zaminer.com
    https://www.zaminer.com/

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/eb271397-79b4-49e2-aa75-afb642cffa70
    https://www.globenewswire.com/NewsRoom/AttachmentNg/3805be67-6d77-4109-8327-b2ba9777a026

    The MIL Network –

  • MIL-OSI: Securing the U.S. SEC License: An Upgrade in the Compliance Strength of YBUOJ

    Source: GlobeNewswire (MIL-OSI)

    GREENWOOD VILLAGE, Colo., May 15, 2025 (GLOBE NEWSWIRE) — Recently, YBUOJ announced its successful acquisition of the U.S. SEC license. As one of the most influential financial regulatory bodies in the world, the SEC imposes extremely stringent oversight on digital asset platforms. The ability of YBUOJ to clear this hurdle undoubtedly signifies the platform comprehensive maturity in compliance capabilities, technical strength, and risk control systems.

    The announcement immediately garnered significant market attention. CEO of YBUOJ, Berton Hosea, stated, “We have always believed that compliance is the cornerstone of the long-term and stable development of the platform. Obtaining the SEC-issued digital asset trading license is not only a high recognition of our compliance system but also represents our ability to conduct fully compliant trading services globally. This achievement marks a milestone in the implementation of our compliance strategy.”

    As the cryptocurrency market matures, obtaining regulatory licenses has become a crucial indicator of the comprehensive strength of a platform. Since its inception, YBUOJ has adhered to a development philosophy that emphasizes both technology and compliance. From acquiring the U.S. MSB license and building a multi-dimensional compliance engine system to obtaining the SEC trading license, YBUOJ has consistently demonstrated its strong focus on compliant operations.

    While the industry seeks a balance between “speed and rules”, YBUOJ has found its direction. CEO Berton Hosea stated, “We are not striving to be the fastest platform, but we aim to be the most reliable and transparent one. Compliance is just the beginning; we will continue to iterate on technology and trust, making the platform the most dependable partner in the digital asset journey of global users.”

    Looking ahead, YBUOJ will “use compliance as the axis, technology as the engine, and global collaboration as the fuel” to build a highly credible crypto financial ecosystem connecting global users, institutions, and regulators. As the blockchain industry approaches a new era of scale and institutionalization, YBUOJ has demonstrated through concrete actions that compliance is not a limitation but a key to unlocking trust and value.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36a8d26c-1c72-4ad5-bb60-9eaeb3edb3a6

    The MIL Network –

  • MIL-OSI: Risk Control Has Never Been So Precise: YBUOJ Builds Next-Generation Trading Security Ecosystem with AI at Its Core

    Source: GlobeNewswire (MIL-OSI)

    GREENWOOD VILLAGE, Colo., May 15, 2025 (GLOBE NEWSWIRE) — Recently, YBUOJ announced the launch of its new AI risk assessment system. This system can evaluate the risk levels of platform user behavior in real-time and is one of the industry leading technologies with automated, dynamic, and intelligent identification capabilities.

    “We do not just aim to solve problems; we want to predict and prevent them,” stated YBUOJ CEO Berton Hosea during an internal strategic communication meeting. “The launch of this AI risk assessment system is a key milestone in the long-term commitment of YBUOJ to security mechanisms and building an intelligent trading ecosystem. It provides users with greater peace of mind and enhances the platform foresight in handling complex financial risks.”

    The newly released AI risk assessment system of YBUOJ is not merely an adjunct to traditional KYC and AML processes but a complete, independently operating technological engine. The system integrates and analyzes historical user behavior data to generate multidimensional risk scoring models.

    In traditional financial risk control systems, platforms often rely on reacting to abnormal user behavior, which is a “post-event defense” form of passive protection. The YBUOJ AI system breaks this limitation by establishing a full lifecycle risk control system, achieving a complete loop of “pre-event identification, in-event response, and post-event review”.

    “All financial platforms will inevitably move towards smarter risk management in the future,” stated YBUOJ CEO Berton Hosea. “We believe it is better to proactively identify risk sources with an AI system and interrupt potential threats early, ensuring true safety for user assets.”

    Berton Hosea emphasized that this system is a crucial starting point for the platform journey toward “intelligent compliance” and “smart security”, and it will become a strategic pillar for advancing the platform to higher global standards.

    As market participants continue to increase, the trading security of crypto platforms will become a core competitive factor. The strategic positioning of YBUOJ in this area is clearly ahead, and its “AI + security” strategy is gradually revealing long-term value.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cb7fdb15-4979-46bf-ac49-26326c4c6f88

    The MIL Network –

  • MIL-OSI: Best Automatic Blinds (2025): SelectBlinds Smart Window Treatments Awarded by Software Experts

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK CITY, May 15, 2025 (GLOBE NEWSWIRE) — Software Experts has recognized SelectBlinds’ automatic blinds as a leading smart window treatment solution for 2025. This highlights SelectBlinds as one of the leaders in combining home automation with functional and stylish window solutions.

    Best Automatic Blinds

    • SelectBlinds – an online retailer offering customizable, DIY-friendly window treatments including blinds, shades, and curtains.

    SelectBlinds, a direct-to-consumer window treatment brand, has steadily expanded its portfolio to meet the growing demand for connected home products. Its automatic blinds are known for their blend of motorized convenience, customizable options, and compatibility with smart home ecosystems. As consumers continue to look for integrated solutions for comfort, energy efficiency, and privacy, smart blinds are gaining traction as a key component in modern home design.

    Software Experts’ recognition was based on several criteria, including automation capabilities, user interface design, installation accessibility, energy efficiency, and system compatibility. SelectBlinds’ automatic window solutions performed well across all categories, offering a range of motorized products that can be controlled via remote, smartphone, or smart home platforms such as Amazon Alexa, Google Assistant, and Apple HomeKit.

    One of the notable features of SelectBlinds’ smart window treatments is the user-friendly customization process. Customers can select from a wide array of styles, fabrics, and lift systems, including rechargeable motors that do not require hardwiring. This accessibility makes the company’s products suitable for both homeowners and renters, an important factor as automation becomes more mainstream beyond luxury home markets.

    An increase in demand for smart blinds is due to the rising popularity of home automation and energy management technology. Automated window treatments can help regulate indoor temperatures by responding to preset schedules or environmental triggers such as sunlight, contributing to lower heating and cooling costs. For consumers who want to make their homes more energy-efficient, SelectBlinds’ solutions offer a practical start into smart home living.

    Founded in 2003, SelectBlinds has grown from a startup into a recognized leader in window treatment. The company operates entirely online, allowing it to offer made-to-order products without the markups associated with traditional retailers. Over the years, it has introduced innovations such as no-drill blinds and sustainable materials.

    Its smart blinds build on this legacy, shifting toward more intuitive and automated living spaces. As remote work, urban living, and smart home adoption continue to change consumer preferences, products like SelectBlinds’ automatic shades provide practical benefits ranging from hands-free operation to enhanced light control for home offices and entertainment areas.

    Software Experts also took note of SelectBlinds’ focus on customer empowerment through self-guided measuring and installation tools. By simplifying the traditionally complex process of ordering custom window treatments, the company makes the entire process beginner-friendly for consumers interested in smart home upgrades.

    As smart home products continue to become popular, window automation is no longer a niche luxury but an expected feature of well-integrated living environments. SelectBlinds’ automatic blinds represent a balance between technology and usability, offering functionality that supports energy goals, daily routines, and personalized comfort.

    With this recognition, Software Experts underscores the importance of smart blinds in smart home ecosystems and highlights SelectBlinds as a key contributor to this evolution. As interest in connected living continues to rise, solutions like these play an important role in how consumers experience and manage their homes.

    To browse SelectBlinds’ selection of automatic blinds and other window solutions, click here. For a more detailed review, please visit the Software Experts website.

    About SelectBlinds

    SelectBlinds is a U.S.-based online retailer specializing in custom window coverings, including blinds, shades, curtains, and drapes. Founded in 2003, the company has grown to become one of the most reviewed online window treatment providers in the country, with over 300,000 customer reviews. Headquartered in Chandler, Arizona, SelectBlinds offers a wide range of products designed for DIY installation, catering to customers looking for both style and functionality in their home decor. Focusing on innovation and user-friendly designs, SelectBlinds continues to be one of the leaders in online home improvement retail.

    About Software Experts: Software Experts provides news and reviews of consumer products and services. As an affiliate, Software Experts may earn commissions from sales generated using links provided. 

    The MIL Network –

  • MIL-OSI: YBUOJ Secures U.S. MSB License, Taking a Key Step in Global Compliance Strategy

    Source: GlobeNewswire (MIL-OSI)

    GREENWOOD VILLAGE, Colo., May 15, 2025 (GLOBE NEWSWIRE) —  Recently, a major announcement shook the global crypto asset trading industry: YBUOJ has officially obtained the Money Services Business (MSB) license issued by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury. This achievement marks a substantial breakthrough in the global compliance operations of the platform.

    YBUOJ CEO Berton Hosea stated, “Securing the U.S. MSB license is a significant milestone in our globalization strategy. It not only strengthens the trust foundation among our users but also signifies that YBUOJ has entered a new phase of compliant operations.”

    To meet the requirements for the MSB qualification, YBUOJ underwent comprehensive upgrades from its technical infrastructure to compliance processes. This included the introduction of a dynamic KYC system, AI-based risk monitoring models, and multi-signature encryption with cold and hot wallet segregation strategies. The platform also integrated a global regulatory change tracking engine to achieve intelligent compliance through “real-time regulatory policy matching”, ensuring every transaction occurs within a secure framework.

    In the context of accelerating global digital currency expansion, compliance is becoming the “lifeline” for the sustainable development of trading platforms. The successful approval of YBUOJ signifies recognition not only in technology and service but also in policy compliance and financial transparency. Through continuous technological investment and compliance development, YBUOJ has built its own “moat” and established a standard template for the industry.

    YBUOJ views the MSB approval as the starting point for “global compliance ecosystem construction”. Berton Hosea added, “In the present-day crypto asset market, only by establishing comprehensive compliance infrastructure can we truly earn the trust of users and the market.”

    By operating legally and compliantly, driving innovation through technology, and coordinating global strategies, YBUOJ is steadfastly advancing towards becoming a world-class digital asset trading platform. In the future, with more regulatory licenses and service network expansions, YBUOJ will further strengthen its global competitiveness, becoming a significant force in the international digital asset market.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d093d68-1243-4c32-8409-c26ad31d6d2e

    The MIL Network –

  • MIL-Evening Report: Likely final House seat outcome: 94 Labor, 44 Coalition, 12 Others

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

    The ABC has called Labor wins in 93 of the 150 House of Representatives seats. The Coalition has won 43 seats, the Greens one and all Others 11, with two seats (Bradfield and Calwell) remaining undecided.

    The Poll Bludger
    has documented the changes in the close seats. In Goldstein, Teal incumbent Zoe Daniel has surged back from a peak deficit of 1,472 votes to now trail Liberal Tim Wilson by just 292 votes on strong absents and declaration pre-polls after she lost postals by 61–39. But only about 800 votes remain, so Wilson will still win.

    On Tuesday, the Liberal lead in Liberal-held Bradfield over a Teal candidate closed to just 59 votes, and the ABC uncalled a race they had called for the Liberal the previous day. On Wednesday the Liberal lead increased to 80 votes, but it’s now fallen back to 43 votes. About 420 votes remain to be counted. The Liberals will probably lead when all votes are counted, but there will be a recount.

    The Liberal National Party has held Longman after declaration pre-polls failed to follow the trend to the left in other close seats. They now have an unassailable 335-vote lead over Labor.

    In Australia’s preferential voting system, the top two candidates on primary votes are not necessarily the final two. The bottom candidate is excluded, and their votes are distributed to remaining candidates, and this continues until only two are left. During this process, the third candidate can pass the second, therefore making the final two.

    So far the only interesting seat where this has occurred is Flinders, where Teal candidate Ben Smith passed Labor despite trailing in third on primary votes by 22.3% to 21.3%, with the Liberals well ahead with 41.2%. The Liberals defeated Smith in the final count by 52.3–47.7 to hold Flinders.

    Calwell has 13 candidates. Primary votes are 30.5% Labor (down 14.3% since the 2022 election), 15.7% Liberals (down 8.1%), 12.0% for independent Carly Moore, 10.9% for independent Joseph Youhana, 8.1% for the Greens (down 1.6%) and 6.9% for yet another independent.

    The danger for Labor is that either Moore or Youhana overtake the Liberals on the distribution of preferences, then beat Labor at the final count on Liberal preferences. Friday is the last day for receipt of late postals. Once all votes are counted, the distribution of preferences can start. We should know the result in Calwell next week.

    If Labor wins Calwell and the Liberals win Bradfield, the final seat totals will be 94 Labor out of 150 (up 17 from 77 out of 151 in 2022), 44 Coalition (down 14), one Green (down three), nine independents (down one) and two others (steady). By the UK’s method, this would be a Labor majority of 38 (25% in percentage terms).

    Bad as this result is for the Coalition, they would be lucky to win three seats (Longman, Bradfield and Goldstein) by less than a 50.2–49.8 margin. The narrowest Labor win was in Bean (by 50.3–49.7 against an independent).

    Turnout for the election is now 89.1%, and is likely to be over 90% once all votes are counted. National primary votes are 34.6% Labor (up 2.0%), 31.9% Coalition (down 3.8%), 12.1% Greens (down 0.2%), 6.4% One Nation (up 1.4%), 1.9% Trumpet of Patriots (down 2.1% from United Australia Party in 2022), 7.4% independents (up 2.1%) and 5.7% others (up 0.7%).

    I explained previously that the electoral commission’s national two-party preferred count does not currently include “non-classic” seats where the major party candidates were not the final two. There will be a special count later in these seats between Labor and Coalition candidates.

    The ABC’s two-party estimate is currently a Labor win by 54.9–45.1, while The Poll Bludger has Labor winning by 54.4–45.6. We’ll need to wait for two-party counts in the non-classic seats to resolve this difference.

    In the Senate, nationally 86.8% of enrolled voters have been counted, only 2.3% behind the House count. There have only been minor changes to primary votes since last Friday’s article on the Senate, so my assessment is unchanged from that article.

    Albanese’s ratings jump in Essential poll

    Essential is the first pollster to return since the election, but it hasn’t done a voting intentions poll. In this national poll, conducted May 7–11 from a sample of 1,137, Anthony Albanese’s net approval jumped 14 points since the pre-election Essential poll to +11 (50% approve, 39% disapprove).

    Former Liberal leader Peter Dutton, who lost his seat of Dickson at the election, slumped 18 points on net approval to -30. Voters still thought Australia was on the wrong track by 42–37 (52–31 before the election).

    In this poll, the Greens and all Others did well with late deciders (those who decided who to vote for in the last few days of the election campaign). Cost of living was rated one of the top three issues by 87% on what decided their vote, including 53% who said it was the top issue.

    Sussan Ley, who was elected Liberal leader on Tuesday, was preferred by 16% as Coalition leader, with Angus Taylor on 12% and Dan Tehan on 7%, with 45% unsure and 20% “none of the above”. Among those who voted for the Coalition, Taylor led Ley by 23–20.

    By 58–42, voters thought Labor should stick to the policies it took to the election, rather than be more ambitious now that it has a strong majority.

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

    – ref. Likely final House seat outcome: 94 Labor, 44 Coalition, 12 Others – https://theconversation.com/likely-final-house-seat-outcome-94-labor-44-coalition-12-others-256568

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: New action to expand Scottish exports

    Source: Scottish Government

    US Export Plan among steps to boost business.

     

    A bespoke plan to help Scottish companies export to the United States will be drawn up as part of new measures aimed at boosting trade.

    It is one of six actions announced in the First Minister’s Programme for Government to assist exporters and address global trade challenges.

    Other steps include increased funding for product development, market research and attendance at international trade shows.

    Within the current financial year, the Six Point Export Plan will:

    • produce a US Export Plan to identify states offering the best markets for Scottish products, as part of wider support for trade with North America
    • use the International Growth Support Programme to unlock opportunities through trade shows, distributor visits, market research and product development
    • bring more global buyers to Scotland to showcase what companies have to offer
    • expand funding for overseas trade missions through the International Trade Partnership with Scottish Chambers of Commerce
    • increase funding for exporters in the technology, life sciences, renewables and hydrogen sectors
    • widen support for businesses through Scottish Enterprise’s international team, Scottish Development International, including more overseas trade missions and exporter showcase events

    During a visit to Summerhall Distillery in Edinburgh, which exports to more than a dozen countries including the US, Deputy First Minister Kate Forbes said:

    “In the face of global uncertainty, I am determined to protect and grow Scotland’s business interests around the world.

    “As the USA remains the single largest destination for Scottish exports outside the European Union, action to maintain and grow the market share while recognising the changing dynamics of US export opportunities is an important focus of our Programme for Government.

    “These steps will build on the significant support we already provide through Scottish Development International and its network of 34 offices across the world, including four in the US.

    “We must grasp all opportunities to strengthen Scotland’s reputation in world markets. Demand for Scottish products and services around the world is high and global customers recognise the innovation, quality and ambition of our businesses.”

    Commercial Director of Summerhall Distillery Dave Quinnell said:

    “We export around the world, including the US where we recently signed a new contract to sell more than 100,000 bottles a year.

    “Without Scottish Development International, we would not have been able to access the majority of our international markets.

    “We received help to draw up our initial export plan, to access specialist advice and to fund trade visits overseas. All of this has been vital to our business as we grow and continue to explore markets across the world.”

    Background

    Programme for Government 2025 to 2026 – gov.scot

    Summerhall Distillery was opened as the first exclusive gin distillery established in Edinburgh for over 150 years, producing Pickering’s Gin. It has since become home to The Broody Hen Scotch Whisky and Coldsnap Vodka. The business has diversified into private and own label products, culminating in the formation of Edinburgh Bottlers & Co-Pack, specialising in premium private label spirits services.

    In the last financial year Scottish Enterprise, whose overseas brand is Scottish Development International, reported £2.15 billion in planned international sales from the Scottish companies it has helped – among the highest results ever achieved.

    The International Trade Partnership Programme is run with the Scottish Chambers of Commerce and will expand access to business membership organisations to provide support for trade missions to established and emerging markets.

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  • MIL-OSI United Kingdom: End unfair council tax debt for domestic abuse survivors

    Source: Scottish Greens

    15 May 2025 Finance

    Greens call for scrapping of domestic abuse survivors council tax debt

    More in Finance

    Scottish Green MSP Ross Greer has urged MSPs to support his call that no domestic abuse survivors be forced to pay off their abuser’s council tax debts.

    Greer has lodged an amendment to the Housing Bill which would require Ministers to review the impact of the current system on domestic abuse survivors.

    Because of how the current legal liability arrangements work, where a survivor of domestic abuse has lived with their abuser, they are often responsible for the abuser’s debt. Researchers and organisations supporting abuse survivors have found examples where this debt is used as a means of ongoing control and financial abuse.

    Groups who have called for the removal of coerced debt include Scottish Women’s Aid, Aberlour and Financially Included, who recently published a joint report on the issue.

    Mr Greer said: 

    “Coerced debt is a form of abuse and financial violence that is being used against people in often very desperate situations. It is used to punish and control victims and survivors and to make them responsible for their abusers.

    “Council Tax debt causes a huge amount of stress and anxiety for thousands of people across Scotland. Some of those worst affected are survivors of domestic abuse who are being forced to pay off their abuser’s debts.

    “This is a problem overwhelmingly affecting women with children, with every penny they are forced to pay effectively being a tax for surviving their abuse. Cancelling it and changing the rules around joint liability is clearly the right thing to do.

    “I hope that MSPs from all parties will support my proposal and that we can move quickly to provide some relief and support for people who are trying to rebuild their lives.”

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  • MIL-OSI United Kingdom: Scottish homes are not for hoarding

    Source: Scottish Greens

    15 May 2025 Housing

    Greens challenge property hoarding landlords in parliament

    More in Housing

    The Scottish Government must close loopholes which allow the wealthy to hoard extra homes at the expense of local communities, say Scottish Greens.

    Speaking ahead of his Members’ Business Debate today in Holyrood, Scottish Green MSP Ross Greer said it is a national disgrace that thousands of children are in temporary accommodation at the same time as the rich continue to pay little tax whilst holding vast property portfolios.

    Greer’s motion highlights that in areas such as Coigach in Wester Ross a majority of homes are now second homes or holiday lets, causing acute local housing crises and forcing young people to leave their own communities just to secure their own home.

    Other communities where second homes and holiday lets are now a major problem include the Isle of Arran and both Cairngorms and Loch Lomond & the Trossachs National Parks.

    Mr Greer said:

    “Across Scotland there are thousands of homes which no-one actually lives in, because they are either second homes or Airbnb-style holiday lets. At the same time, thousands of children are stuck in temporary accommodation and young people are forced out of the communities they’ve grown up in due to lack of housing. These problems are directly connected.

    “Wealthy people collecting second homes are driving up house prices and creating acute local shortages. This hollows out communities, especially in rural areas and on our islands. Four in ten properties in Lochranza on Arran are either holiday homes or lets, which just isn’t sustainable.

    “Unbelievably, despite the damage they are doing to so many communities, these Airbnb-style short-term lets often don’t have to pay business rates. I’ve proposed an end to that tax break, but the Scottish Government is resisting this much needed reform.

    “The Scottish Greens have already doubled Council Tax on holiday homes, with our plan being that owners would sell up and make the properties available for those who need somewhere to live. That is already working, with 2455 fewer second homes in Scotland last year compared to 2023. With a housing crisis this bad though, we need to go further.

    “More new homes need to be built, but that won’t tackle the problem if many of them just become second homes or holiday lets as well. Our tax system needs to change, to end the advantages enjoyed by the wealthy and to make things easier for first time buyers.”

    Today’s debate also coincides with the first anniversary of the Scottish Parliament’s decision to declare a housing emergency in Scotland. Mr Greer said this should focus minds in the Scottish Government on taking urgent, concrete action.

    He added: 

    “Today marks a year since MSPs voted to declare a housing emergency in Scotland. Despite the widespread acceptance that our housing system is broken, very little has changed over the last 12 months.

    “I hope today’s debate underlines the vast inequality between those who own multiple homes and those who cannot afford their rent, let alone to own their own home.”

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