NewzIntel.com

Category: China

  • MIL-OSI: IDEX Biometrics ASA: Notice of extraordinary general meeting on August 14, 2025

    Source: GlobeNewswire (MIL-OSI)

    IDEX Biometrics ASA will hold an extraordinary general meeting (“EGM”) on Thursday 14 August 2025 at 12.00 am CEST as an online meeting. Shareholders may attend online by PC, smartphone or tablet. There is no physical attendance option. The EGM-notice with attendance form will be sent to the shareholders today and is also enclosed.

    The notice of the EGM is also available at the company’s web site, and can be requested from the company at no charge from ir@idexbiometrics.com .

    Please register for attendance or give proxy at the following site:

    https://investor.vps.no/gm/logOn.htm?token=a615f041927a5a9a11cdf26765b82a4863ab7610&validTo=1757757600000&oppdragsId=20250723VPL4IPU0

    IDEX Biometrics’ reports and presentations are available on our website: www.idexbiometrics.com/investors

    For further information, please contact:

    Anders Storbråten, CEO and CFO, Tel: +47 416 38 582

    E-mail: ir@idexbiometrics.com

    About IDEX Biometrics:

    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit www.idexbiometrics.com

    About this notice:

    This notice was issued by Kjell-Arne Besseberg, COO, on 24 July 2025 at 17:00 CEST on behalf of IDEX Biometrics ASA. This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12.

    Attachment

    The MIL Network –

  • MIL-OSI Submissions: What makes a person cool? Global study has some answers

    Source: The Conversation – Africa – By Todd Pezzuti, Associate Professor, Business School, Universidad Adolfo Ibáñez

    From Lagos to Cape Town, Santiago to Seoul, people want to be cool. “Cool” is a word we hear everywhere – in music, in fashion, on social media. We use it to describe certain types of people.

    But what exactly makes someone cool? Is it just about being popular or trendy? Or is there something deeper going on?

    In a recent study I conducted with other marketing professors, we set out to answer a simple but surprisingly unexplored question. What are the personality traits and values that make someone seem cool – and do they differ across cultures?

    We asked nearly 6,000 people from 12 countries to think of someone they personally knew who was “cool”, “not cool”, “good”, or “not good”. Then we asked them to describe that person’s traits and values using validated psychological measures. We used this data to examine how coolness differs from general likeability or morality.



    Read more:
    What makes a person seem wise? Global study finds that cultures do differ – but not as much as you’d think

    The countries ranged from Australia to Turkey, the US to Germany, India to China, Nigeria to South Africa.

    Our data showed that coolness is uniquely associated with the same six traits around the world: cool people tend to be extroverted, hedonistic, adventurous, open, powerful, and autonomous.

    These findings help settle a long debate about what it means to be cool today.

    A brief history of cool

    Early writing on coolness described it as emotional restraint: being calm, composed and unbothered. This view, rooted in the metaphor of temperature and emotion, saw coolness as a sign of self-control and mastery.

    Some of these scholars trace this form of cool to slavery and segregation, where emotional restraint was a survival strategy among enslaved Africans and their descendants, symbolising autonomy and dignity in the face of oppression. Others propose “cool” restraint existed long before slavery.

    Regardless, jazz musicians in the 1940s first helped popularise this cool persona – relaxed, emotionally contained, and stylish – an image later embraced by youth and various countercultures. Corporations like Nike, Apple and MTV commercialised cool, turning a countercultural attitude into a more commercially friendly global aesthetic.

    This is what makes someone cool

    Our findings suggest that the meaning of cool has changed. It’s a way to identify and label people with a specific psychological profile.

    Cool people are outgoing and social (extroverted). They seek pleasure and enjoyment (hedonistic). They take risks and try new things (adventurous). They are curious and open to new experiences (open). They have influence or charisma (powerful). And perhaps most of all, they do things their own way (autonomous).

    This finding held remarkably steady across countries. Whether you’re in the US, South Korea, Spain or South Africa, people tend to think that cool individuals have this same “cool profile”.

    We also found that even though coolness overlaps with being good or favourable, being cool and being good are not the same. Being kind, calm, traditional, secure and conscientious were more associated with being good than cool. Some “cool” traits were not necessarily good at all, like extroversion and hedonism.

    What about South Africa and Nigeria?

    One of the most fascinating aspects of our study was seeing how consistent the meaning of coolness was across cultures – even in countries with very different traditions and values.

    In South Africa, participants viewed cool people as extroverted, hedonistic, powerful, adventurous, open and autonomous – just like participants from Europe to Asia. In South Africa, however, coolness is especially distinct from being good. South Africa is one of the countries in which being hedonistic, powerful, adventurous and autonomous was much more cool than good.



    Read more:
    Which African countries are flourishing? Scientists have a new way of measuring well-being

    Nigeria was the only country in which cool and uncool people were equally autonomous. So basically, individuality wasn’t seen as cool. That difference might reflect cultural values that place a greater emphasis on community, respect for elders, or collective identity. In places where tradition and hierarchy matter, doing your own thing might not be cool.

    Social sciences, like all science, however, are not perfect. So, it’s reasonable to speculate that autonomy might still be cool in Nigeria, with the discrepancy resulting from methodological issues such as how the Nigerian participants interpreted and responded to the survey.

    Nigeria was also unique because the distinction between cool and good wasn’t as notable as in other countries. So coolness was seen more as goodness than in the other countries.

    Why does this matter?

    The fact that so many cultures agree on what makes someone cool suggests that “coolness” may serve a shared social function. The traits that make people cool may make them more likely to try new things, innovate new styles and fashions, and influence others. These individuals often push boundaries and introduce new ideas – in fashion, art, politics, or technology. They inspire others and help shape what’s seen as modern, desirable, or forward-thinking.

    Coolness, in this sense, might function as a kind of cultural status marker – a reward for being bold, open-minded and innovative. It’s not just about surface style. It’s about signalling that you’re ahead of the curve, and that others should pay attention.

    So what can we learn from this?

    For one, young people in South Africa, Nigeria, and around the world may have more in common than we often think. Despite vast cultural differences, they tend to admire the same traits. That opens up interesting possibilities for cross-cultural communication, collaboration and influence.

    Second, if we want to connect with or inspire others – whether through education, branding, or leadership – it helps to understand what people see as cool. Coolness may not be a universal virtue, but it is a universal currency.

    And finally, there’s something reassuring in all this: coolness is not about being famous or rich. It’s about how you live. Are you curious? Courageous? True to yourself? If so, chances are someone out there thinks you’re cool – no matter where you’re from.

    Todd Pezzuti received funding from ANID Chile to conduct this research.

    – ref. What makes a person cool? Global study has some answers – https://theconversation.com/what-makes-a-person-cool-global-study-has-some-answers-261266

    MIL OSI –

  • MIL-OSI Submissions: What makes a person cool? Global study has some answers

    Source: The Conversation – Africa – By Todd Pezzuti, Associate Professor, Business School, Universidad Adolfo Ibáñez

    From Lagos to Cape Town, Santiago to Seoul, people want to be cool. “Cool” is a word we hear everywhere – in music, in fashion, on social media. We use it to describe certain types of people.

    But what exactly makes someone cool? Is it just about being popular or trendy? Or is there something deeper going on?

    In a recent study I conducted with other marketing professors, we set out to answer a simple but surprisingly unexplored question. What are the personality traits and values that make someone seem cool – and do they differ across cultures?

    We asked nearly 6,000 people from 12 countries to think of someone they personally knew who was “cool”, “not cool”, “good”, or “not good”. Then we asked them to describe that person’s traits and values using validated psychological measures. We used this data to examine how coolness differs from general likeability or morality.



    Read more:
    What makes a person seem wise? Global study finds that cultures do differ – but not as much as you’d think

    The countries ranged from Australia to Turkey, the US to Germany, India to China, Nigeria to South Africa.

    Our data showed that coolness is uniquely associated with the same six traits around the world: cool people tend to be extroverted, hedonistic, adventurous, open, powerful, and autonomous.

    These findings help settle a long debate about what it means to be cool today.

    A brief history of cool

    Early writing on coolness described it as emotional restraint: being calm, composed and unbothered. This view, rooted in the metaphor of temperature and emotion, saw coolness as a sign of self-control and mastery.

    Some of these scholars trace this form of cool to slavery and segregation, where emotional restraint was a survival strategy among enslaved Africans and their descendants, symbolising autonomy and dignity in the face of oppression. Others propose “cool” restraint existed long before slavery.

    Regardless, jazz musicians in the 1940s first helped popularise this cool persona – relaxed, emotionally contained, and stylish – an image later embraced by youth and various countercultures. Corporations like Nike, Apple and MTV commercialised cool, turning a countercultural attitude into a more commercially friendly global aesthetic.

    This is what makes someone cool

    Our findings suggest that the meaning of cool has changed. It’s a way to identify and label people with a specific psychological profile.

    Cool people are outgoing and social (extroverted). They seek pleasure and enjoyment (hedonistic). They take risks and try new things (adventurous). They are curious and open to new experiences (open). They have influence or charisma (powerful). And perhaps most of all, they do things their own way (autonomous).

    This finding held remarkably steady across countries. Whether you’re in the US, South Korea, Spain or South Africa, people tend to think that cool individuals have this same “cool profile”.

    We also found that even though coolness overlaps with being good or favourable, being cool and being good are not the same. Being kind, calm, traditional, secure and conscientious were more associated with being good than cool. Some “cool” traits were not necessarily good at all, like extroversion and hedonism.

    What about South Africa and Nigeria?

    One of the most fascinating aspects of our study was seeing how consistent the meaning of coolness was across cultures – even in countries with very different traditions and values.

    In South Africa, participants viewed cool people as extroverted, hedonistic, powerful, adventurous, open and autonomous – just like participants from Europe to Asia. In South Africa, however, coolness is especially distinct from being good. South Africa is one of the countries in which being hedonistic, powerful, adventurous and autonomous was much more cool than good.



    Read more:
    Which African countries are flourishing? Scientists have a new way of measuring well-being

    Nigeria was the only country in which cool and uncool people were equally autonomous. So basically, individuality wasn’t seen as cool. That difference might reflect cultural values that place a greater emphasis on community, respect for elders, or collective identity. In places where tradition and hierarchy matter, doing your own thing might not be cool.

    Social sciences, like all science, however, are not perfect. So, it’s reasonable to speculate that autonomy might still be cool in Nigeria, with the discrepancy resulting from methodological issues such as how the Nigerian participants interpreted and responded to the survey.

    Nigeria was also unique because the distinction between cool and good wasn’t as notable as in other countries. So coolness was seen more as goodness than in the other countries.

    Why does this matter?

    The fact that so many cultures agree on what makes someone cool suggests that “coolness” may serve a shared social function. The traits that make people cool may make them more likely to try new things, innovate new styles and fashions, and influence others. These individuals often push boundaries and introduce new ideas – in fashion, art, politics, or technology. They inspire others and help shape what’s seen as modern, desirable, or forward-thinking.

    Coolness, in this sense, might function as a kind of cultural status marker – a reward for being bold, open-minded and innovative. It’s not just about surface style. It’s about signalling that you’re ahead of the curve, and that others should pay attention.

    So what can we learn from this?

    For one, young people in South Africa, Nigeria, and around the world may have more in common than we often think. Despite vast cultural differences, they tend to admire the same traits. That opens up interesting possibilities for cross-cultural communication, collaboration and influence.

    Second, if we want to connect with or inspire others – whether through education, branding, or leadership – it helps to understand what people see as cool. Coolness may not be a universal virtue, but it is a universal currency.

    And finally, there’s something reassuring in all this: coolness is not about being famous or rich. It’s about how you live. Are you curious? Courageous? True to yourself? If so, chances are someone out there thinks you’re cool – no matter where you’re from.

    Todd Pezzuti received funding from ANID Chile to conduct this research.

    – ref. What makes a person cool? Global study has some answers – https://theconversation.com/what-makes-a-person-cool-global-study-has-some-answers-261266

    MIL OSI –

  • MIL-OSI USA: Ranking Member Frankel Opening Remarks at Full Committee Markup of the National Security, Department of State, and Related Programs Funding Bill

    Source: United States House of Representatives – Congresswoman Lois Frankel (FL-21)

    Thank you, Mr. Chairman. I’m going to start by recognizing the collegiality of our Chairman Mr. Diaz-Balart and the thoughtful members on both sides of the aisle. And of course, I want to thank our hardworking staff for their tireless efforts. But most of all, I want to recognize the brave and committed Americans—our diplomats, USAID workers, humanitarian teams, and public health experts and our partners around the world—who bring our country’s values to the world’s toughest places. They’re the ones who delivered vaccines to remote villages in Congo, who help girls in Ethiopia escape forced marriage and find education and safety. 

    I’ve seen their work up close–I know many of us have—and the impact of the programs we funded. Children who escaped the brutality of Assad’s Syria thriving in classrooms in Jordan. Mothers in Malawi learning skills to support their families. Pregnant women in Kenya staying healthy with support from HIV clinics. To all of these workers —past and present: You are the patriots. You represent the best of America. And those who are still serving deserve more than our thanks. They deserve the tools to get the job done.

    Mr. Chairman, I wish we had a bipartisan bill in front of us that I could support that honored that service and reflected America’s leadership. If we had a responsible allocation and a White House that understood diplomacy, development, and humanitarian aid, we could have gotten there. But instead, here we are, questioning whether any of this matters when the President just ignores the will of Congress and the laws we pass.

    So today, I strongly oppose the FY 2026 Republican bill. It’s not just a funding cut—it’s a reckless blueprint for American retreat. Our President seems to think relying on threats and bullying alone is a smart strategy. But chaotic tariffs, cruel immigration crackdowns, and this tepid foreign aid plan before us today is not going to make us more safe, secure, or more prosperous. And attention: we are ceding the world to China. And let me be clear: This bill does not lower costs for hard working families and retirees on day one as promised by President Trump—instead it puts hard earned finances at risk by hurting global stability.

    And tax breaks for billionaires is not a trade-off for millions of starving children and let me just say that this bill does not make one bit of difference in making up the $4 trillion addition to our debt when the Republicans pass what they call their Big Bill their Big Beautiful Bill I call it the Big Ugly Bill   And this bill is just adds to the list of  troubling actions by the Administration.

    Here’s what’s happened leading up: Foreign aid has been held up illegally, then justified by an inane clawback known as recission; USAID—an agency backed by Congress that fights poverty and prevents conflict—gutted; Over 10,000 development and humanitarian professionals dismissed by Elon Musk; 5,000 life-saving aid programs abruptly terminated; 1,300 State Department staff laid off; Offices shuttered. Decades of progress wiped out. How disgusting , the richest man in the world was allowed to pull the plug on programs that save the world’s poorest children.

    The infrastructure and staffing is no longer present to carry out the few programs that remain. Let me say this again with emphasis: The infrastructure and staffing is no longer present to carry out the few programs that remain.

    All while the world faces crisis after crisis: Wars and armed conflict, Extreme weather, Hunger and famine, Disease outbreaks, Mass migration, and Rising authoritarian regimes

    These aren’t distant problems. They land right at our door: Fragile states collapse and migration surges; Trade stops and U.S. farmers and businesses lose buyers ;Climate disasters destroy crops and homes; Broken health systems allow deadly viruses to spread; And when we step back, China and Russia step in—not to help, but to expand their grip.

    We’re leaving behind a gap they fill with money, weapons, and propaganda taking over the airwaves – reaching listeners who used to rely on Voice of America and our international broadcasting. They want to remake the world to fit their playbook.

    Meanwhile, sadly our allies are also slashing foreign aid —pushed to spend more on weapons by Mr. Trump. As global needs explode, democracy’s soft power is vanishing. This bill fails to meet this moment.

    Here’s what it really does:

    Cuts 22% from the international affairs budget – that’s $13 billion, diminishing funding for development and economic assistance:

    • Kids kicked out of the classroom and cut off from clean water
    • Farmers losing seeds and tools to make a living
    • Violence prevention programs vanishing
    • Local nonprofits shut down

    The bill slashes humanitarian aid by 42%:

    • In Nigeria, malnourished infants are dying without food
    • In Myanmar, hospitals are going dark
    • In The Gambia, support for survivors of female genital mutilation has ended—as the country debates making it legal again
    • In Ukraine, wounded soldiers go without care
    • In Ecuador, women entrepreneurs are losing lifelines and heading for our border

    This is a blow to our credibility, our moral standing, and our global influence. Soft power – interestingly enough – development and diplomacy – have been secret weapons abroad. Without them, we’re losing Americans on the ground who know the terrain, see trouble coming, and keep us one step ahead.

    And as always, my, my, my. Here we go again–Republicans couldn’t resist one more swipe at women: Slashing family planning programs that save hundreds of thousands of lives each year and prevent millions of unplanned pregnancies, Reinstating the Global Gag Rule—which blocks funding to foreign groups that even talk about abortion; you can’t even say the word “abortion”, not do abortion, say the word “abortion”– you lose your funding, Gutting the UNFPA—which provides basic reproductive and maternal care in over 150 countries

    And while this bill guts humanitarian programs and walks away from the world’s most vulnerable, the administration is also on the road to destroying one of the smartest, most effective tools of U.S. foreign policy: the Women, Peace, and Security agenda. WPS is not some fringe idea. It’s the law, signed by guess who, Donald Trump. It passed with strong bipartisan support. And here’s why: Women experience conflict differently than men—often bearing the brunt of sexual violence, displacement, and the burden of caring for families amid chaos—yet they are too often excluded from life changing decisions. The WPS agenda has helped train diplomats, strengthen alliances, and put more women at the center of peace and security.

    When women are at the table for peace talks, recovery, and crisis response, the results are better. Period. Peace lasts longer. Communities recover faster. And Missions succeed. And yet, this administration shut down the State Department’s office that leads that work—right when we need women’s leadership the most. That’s not just shortsighted. It makes the world less safe and works directly against our own interests.

    The bill also abandons multilateral institutions and organizations—UNICEF, the UN Development Program, the African and Asian Development Banks, the World Bank, the World Health Organization—undermining our ability to shape the global agenda and ceding ground to autocrats. Guess who? Attention: China is going to take over this world.

    So why should Americans care that these cuts are going to cost more than they save? Because these cuts hurt American families, too.  When we walk away from the world: Chaos spreads; Troops are put in harm’s way; Our adversaries gain ground; And we pay the price—in dollars, and in lives.

    And look, I say this not just as a lawmaker, but as a mother. My son served in the Marines. He was sent to two wars–Iraq and Afghanistan– I know what it means when diplomacy fails. The cost isn’t hypothetical—it hits our soldiers and their families the hardest.

    Let me remind you: the international affairs budget was already less than 1% of our federal spending. But it delivered huge returns: Markets for American goods; Stability abroad; Protection from pandemics; Fewer troops sent into harm’s way.

    Last week, we passed an $832 billion defense bill—that’s hard power. But even our top generals warn: without soft power alongside it, that number will only keep rising. So, Mr. Chairman, This bill is a lost opportunity. It’s a failure to lead. It hurts American families because when health systems collapse, people get sick.  When trade stalls, jobs vanish. When diplomacy fails, our loved ones go to war.  So let me close with this: Democrats aren’t giving up. We’re ready to work together with Republicans to reach a bill that reflects our values, keeps our promises, and protects American lives. Because we can’t bomb and drone our way to peace and prosperity.  A strong America doesn’t hide. And it doesn’t bully. A strong America leads—with vision, with courage, and compassion. And That’s the bill we should be fighting for. Thank you. I yield back.

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Ranking Member Frankel Passes Amendment to Strengthen U.S.-Africa Partnership, Introduces Amendment to Improve Foreign Assistance Staffing at State Dept

    Source: United States House of Representatives – Congresswoman Lois Frankel (FL-21)

    Today, during the full committee markup of the National Security, Department of State, and Related Programs Appropriations funding bill, Ranking Member Frankel introduced two amendments to safeguard American leadership on the world stage.

    The first ensures that no less than 15% of economic development funds in the bill be directed toward programs in Africa. The amendment passed with unanimous bipartisan support. From Rep. Frankel’s remarks: “By 2050, Africa will be home to a quarter of the world’s population—and nearly half of all global youth. Some cities are booming. Startups are thriving. And across the continent, countries are leapfrogging traditional development paths through mobile banking, financial technology, and energy innovation. By 2030, Africa’s consumer market is expected to top $2.5 trillion. The question is: will the United States be at the table, or will we let others, like China, steer the ship?

    At the same time, we must be clear-eyed. Diseases still ravage vulnerable communities. Young people need access to quality education, job training, and opportunity—so that success is not reserved for elites alone. And while we weigh our options, China is not waiting. It is investing billions in African infrastructure, digital networks, mining operations, and military influence. China is writing the rules of the road—and we’re at real risk of being left behind. We cannot afford to cede this ground. Because this is about more than development assistance—it’s about protecting our shared future.”

    The second amendment aimed to ensure proper staffing at the State Department to effectively take on what remains of USAID programs after they were dismantled by the Trump Administration. The amendment directed the State Department to prioritize rehiring USAID experts who the Administration previously fired. The amendment did not pass. 

    From Rep. Frankel’s remarks: “Babies are dying—not because we lack the science or the resources—but because the Trump Administration chose to dismantle the very programs that could have saved them. The systems that once monitored health outcomes are shutting down, and the true scope of the harm—and the risk to our own national security—is becoming harder to measure.

    We may never be able to fully undo the catastrophic damage caused by the Trump Administration and its DOGE acolytes. But we can start to put things right. That’s what this amendment does. It ensures that the State Department isn’t set up to fail. It brings back the experts. It restores some measure of accountability and gives us the eyes and ears on the ground we need to ensure our humanitarian investments are effective, transparent, and actually reaching the people who need help most. This isn’t just a bureaucratic fix—it’s a moral imperative.”

    MIL OSI USA News –

  • MIL-OSI USA: Republicans Threaten National Security, Abdicate United States World Leadership, and Slash Humanitarian Assistance

    Source: United States House of Representatives – Congresswoman Lois Frankel (FL-21)

    Today, House Appropriations Committee Republicans pushed ahead with their fiscal year 2026 National Security, Department of State, and Related Programs funding bill that weakens our national security and puts the American people and public health preparedness at risk.

    House Republicans are proposing a 22 percent cut to the bill’s overall funding level.

     
    This bill:

    • Threatens national security, abdicates United States world leadership and guts development and humanitarian programs by underfunding the operations and staffing of the State Department and completing the demise of the U.S. Agency for International Development (USAID), as well as other tools of America’s soft power and global leadership. 
    • Cedes world leadership to China by abandoning our allies and eliminating funding for the United Nations (UN) and other multilateral and international financial institutions, including any funding for the UN Regular budget, the UN Development Program, UN Women, and UNICEF.
    • Threatens women’s health globally by prohibiting the United States from contributing to the United Nations Population Fund (UNFPA), substantially underfunding bilateral family planning, and reinstating the expanded Global Gag Rule on non-governmental organizations that receive U.S. assistance.
    • Hampers the United States’ response to the climate crisis by eliminating support for communities’ ability to adapt to weather changes, sustainably manage their land and natural resources, and expand access to clean energy.

    “The Republicans’ proposed FY26 Appropriations bill for National Security, Department of State, and Related Programs charts a dangerous course of recklessness and retreat—leaving a vacuum for adversaries like China to fill,” State, Foreign Operations, and Related Programs Ranking Member Lois Frankel (D-FL-22) said. “Slashing investments in diplomacy, development, and humanitarian aid is not just shortsighted—it’s a grave mistake. These cuts may look like savings on paper, but they come at a steep cost that every American family will feel. When global health systems collapse, people get sick. When markets dry up, paychecks shrink. When diplomacy fails, our loved ones are sent to war. I look forward to working toward a budget that meets the moment—one that strengthens our security, grows our economy, and reaffirms America’s leadership on the world stage.”

    Congresswoman Lois Frankel’s full remarks are here.

    “President Trump is aggressively pursuing an America-last agenda that will only see America become weaker, more isolated, and more ostracized. Snubbing our allies and turning our back on the world does not make us strong. It makes us weak. It makes us an unreliable ally and an untrustworthy partner,” Appropriations Committee Ranking Member Rosa DeLauro (D-CT-03) said. “Republicans are slashing humanitarian assistance by more than a third, and foreign assistance by over 20 percent – causing tragic and preventable death around the world and creating a power vacuum that China is eager to exploit. Their bill dismisses our international partners – U.N. agencies and NGOs that deliver lifesaving aid to the most vulnerable people around the globe. And their bill surrenders our efforts to combat the climate crisis – eliminating support for climate adaptability and clean energy, ignoring the nexus between climate, conflict, and migration, and jeopardizing the safety and security of our children, and our grandchildren. I will not stop fighting to protect America’s interests, and against the Trump Administration’s and Republicans’ dangerous dismantling of our diplomatic and humanitarian efforts across the world.”

    Congresswoman DeLauro’s full remarks are here.

    This funding bill was considered amidst the looming threat of Office of Management and Budget (OMB) sending a proposal to, in effect, unilaterally and unlawfully cancel expiring appropriations (a misnomer OMB Director Vought erroneously calls a “pocket rescission,” which is just another term for unlawful impoundment). Instead of rising to the occasion to combat those threats, Republicans capitulated to the demands of Director Vought. They continued their go-it-alone approach to government funding instead of working with Democrats to enact bipartisan laws that serve American interests.

    During today’s markup, Democrats also fought to:

    • Restore humanitarian assistance after Republicans decimated efforts to address crises and save lives around the world.
    • Produce a report on the impact President Trump’s cuts, mass firings, and chaotic foreign policy changes have had on the expansion of China’s global influence.
    • Require adequate staffing to implement oversight of foreign assistance following the firing of thousands of employees at the U.S. Department of State and the United States Agency for International Development.
    • Reverse Republican cuts and eliminate policies that threaten women’s health globally.

    House Republicans rejected these efforts.

    A summary of the bill is here. A fact sheet is here.

    The text of the bill, before the adoption of amendments in full committee, is here. The bill report, before the adoption of amendments in full Committee, is here.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: War victory anniversary talk held

    Source: Hong Kong Information Services

    The Civil Service Bureau and the Constitutional & Mainland Affairs Bureau jointly organised a talk at the Central Government Offices today to commemorate the 80th anniversary of victory in the Chinese People’s War of Resistance against Japanese Aggression and in the World Anti-Fascist War.

    The talk was delivered by Professor at the Institute of World History of the Chinese Academy of Social Sciences (CASS) and the School of History of the University of the CASS Prof Wang Chaoguang and Associate Vice President of Lingnan University Prof Lau Chi-pang.

    During the talk, Prof Wang gave a comprehensive analysis of the history of the Chinese People’s War of Resistance against Japanese Aggression, delving into the historical status, major contributions and the significance of the war as the main Eastern battlefield of the World Anti-Fascist War, as well as the Communist Party of China’s role as the pillar of the War of Resistance.

    Prof Lau also shared with participants the heroic deeds of the East River Column and the Hong Kong-Kowloon Brigade during the war period.

    Secretary for the Civil Service Ingrid Yeung, politically appointed officials and civil servants in the directorate, senior and middle ranks attended the talk today. Together with those participating via video conferencing, over 200 participants attended the talk.

    Delivering the opening remarks, Mrs Yeung pointed out that civil servants should learn from history, firmly safeguard national sovereignty, security and development interests, uphold the spirit of “patriots administering Hong Kong”, and make greater contributions to the prosperity and stability of Hong Kong and the lasting peace and stability of the country.

    She encouraged civil servants to actively participate in the thematic seminars and learning activities organised to commemorate the 80th anniversary of victory in the War of Resistance.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: Cooperation should be the leitmotif of China-EU relations – Premier of the State Council of the People’s Republic of China /detailed version-1/

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 24 (Xinhua) — No matter how the international situation develops, cooperation should be the main theme and partnership the correct definition of China-EU relations, Chinese Premier Li Qiang said Thursday.

    Chinese Premier Li Qiang, European Council President António Costa and European Commission President Ursula von der Leyen co-chaired the 25th China-EU leaders’ meeting at the Great Hall of the People in Beijing on Thursday.

    Over the past 50 years since the establishment of diplomatic relations, cooperation between China and the EU has shown steady development and produced fruitful results.

    History has repeatedly proven that when there is mutual respect, mutual understanding and mutual openness, China-EU cooperation runs smoothly and benefits both sides; when there is alienation and discord in their relations, cooperation encounters obstacles that cause both sides to suffer, he continued.

    According to Li Qiang, China and the EU have a wide range of common interests and have no fundamental contradictions.

    “In this changing and turbulent international environment, it is of utmost importance for China and the EU, the two major global powers and two largest markets, to establish close cooperation,” he said, adding that it is not only a natural choice for their development but also in line with the demands and expectations of the international community.

    As long as China and the EU sincerely support free trade, the international economy and trade will remain dynamic. As long as they firmly adhere to the principle of multilateralism, the trend toward a multipolar world will continue to strengthen, the Chinese premier said.

    China will continue to cooperate with the EU to achieve greater progress in this relationship and bring greater benefits to the people of China and the EU and beyond, Li Qiang said. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI USA: Chairman Cotton to Hegseth: Current DoD Agreements and Practices Fail to Account for Threat of China

    US Senate News:

    Source: United States Senator for Arkansas Tom Cotton
    FOR IMMEDIATE RELEASEContact: Caroline Tabler or Patrick McCann (202) 224-2353July 24, 2025
    Chairman Cotton to Hegseth: Current DoD Agreements and Practices Fail to Account for Threat of China
    Washington, D.C. — Senator Tom Cotton (R-Arkansas), Chairman of the Senate Select Committee on Intelligence, today sent a letter to Secretary of Defense Pete Hegseth requesting additional information about agreements and practices that currently fail to account for the growing threat of Communist China. This letter follows one sent by Senator Cotton last week about reports of China-based contractors for Microsoft potentially having access to sensitive military data.
    In part, Senator Cotton wrote:
    “While I applaud your actions, I am concerned that the Department is hampered by agreements and practices unwisely adopted by your predecessors, including contracts and oversight processes that fail to account for the growing Chinese threat.”
    Full text of the letter may be found here and below.
    The Honorable Pete HegsethSecretary of DefenseU.S. Department of Defense1000 Defense PentagonWashington, DC 20301
    Dear Secretary Hegseth:
    I write to commend the Department’s prompt response to last week’s inquiry about Microsoft’s use of Chinese engineers to provide services for Department of Defense (DoD) systems. Your vow that “China will no longer have any involvement in our cloud services, effective immediately” and plans for a two-week review of current cloud contracts underscore the urgency required to address this security risk.
    While I applaud your actions, I am concerned that the Department is hampered by agreements and practices unwisely adopted by your predecessors, including contracts and oversight processes that fail to account for the growing Chinese threat. As we learn more about these “digital escorts” and other unwise—and outrageous—practices used by some DoD partners, it is clear the Department and Congress will need to take further action. We must put in place the protocols and processes to adopt innovative technology quickly, effectively, and safely.
    To inform Congress as we work with you to close the vulnerabilities in the DoD supply chain, I respectfully request the following information by August 15, 2025.
    The results of the two-week review, including but not limited to:
    Details on what services Chinese engineers provided
    What information or data was shared with Chinese engineers
    Mechanisms Chinese engineers used to access, maintain, or service DoD systems, such as screen sharing, remote management, or instructions to run scripts
    What information, if any, was recorded or documented by DoD when Chinese engineers were working with DoD systems
    How often Microsoft or other providers that utilized this digital escort model conducted self-audits and the results of all such self-audits
    Any discovery of potential security incidents or malicious events that have already occurred or are likely to occur

    All security classification guides provided to Microsoft or other contractors under the Joint Warfighting Cloud Capability (JWCC) program
    Any plans to implement a DoD-wide review of contracting practices and DoD guidance to prevent a contractor from leveraging loopholes that place DoD systems at risk
    I look forward to working with you on this important matter.
    Sincerely,
    Tom Cotton
    United States Senator
     

    MIL OSI USA News –

  • MIL-OSI Video: Open Dialogue with China: EU-China Summit

    Source: European Commission (video statements)

    “China and Europe are two of the world’s economic and trading giants.” – European Commission President Ursula von der Leyen

    On 24 July 2025, European Commission President Ursula von der Leyen and President of the European Council António Costa, held a joint press conference from the EU-China Summit in Beijing, China.

    For the full transcript of the President’s statement, see here: https://ec.europa.eu/commission/presscorner/detail/en/statement_25_1900

    For the 25th EU-China summit press release, see here:
    https://ec.europa.eu/commission/presscorner/detail/en/ip_25_1901

    Follow live events and access media content here:
    https://audiovisual.ec.europa.eu/en/

    Stay updated — follow us on X: https://x.com/EC_AVService

    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

    Check our website: http://ec.europa.eu/

    https://www.youtube.com/watch?v=rBZ6uBXNMMc

    MIL OSI Video –

  • MIL-OSI China: 2 Chinese coastal provinces activate emergency measures as Typhoon Francisco nears

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

    2 Chinese coastal provinces activate emergency measures as Typhoon Francisco nears

    HANGZHOU/FUZHOU, July 24 — East China’s coastal provinces of Zhejiang and Fujian on Thursday moved in lockstep to activate their Level-IV typhoon emergency response mechanisms as the seventh typhoon of the year approaches, expected to bring strong winds and heavy rains.

    At 5 p.m. Thursday, Zhejiang upgraded its existing offshore alert to a Level-IV typhoon alert for Typhoon Francisco. Just five hours earlier, Fujian had issued the same warning, underscoring the shared threat.

    At 2 p.m., Francisco’s center was located approximately 790 kilometres southeast of the Zhejiang-Fujian border, packing winds of up to 20 meters per second. It is forecast to move northwest at speeds of 15 to 20 kilometers per hour, to enter the southern East China Sea on Thursday evening, and to then approach the coast from southern Zhejiang to northern Fujian.

    The situation is complicated by newly minted Typhoon Co-May — the eighth typhoon of the year.

    While Co-May is expected to move northeastward late on Thursday afternoon, its proximity to Francisco could trigger a Fujiwhara interaction, which means that the two storms are likely to begin an intense dance around a shared center.

    “The Fujiwhara effect could leave both systems weaker than either would have been alone,” said Mao Yanjun, a senior engineer at the Zhejiang Climate Center. “Co-May is likely to downgrade to a depression on its northward trek, and cooler sea-surface temperatures will sap Francisco’s strength once it enters the East China Sea.”

    MIL OSI China News –

  • MIL-OSI China: China to conduct 400-bln-yuan MLF operation on Friday

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

    BEIJING, July 24 — China’s central bank on Thursday announced that it will conduct a 400-billion-yuan (about 56.03 billion U.S. dollars), one-year medium-term lending facility (MLF) operation on Friday to maintain ample liquidity in the country’s banking system.

    The People’s Bank of China said the MLF operation will be conducted using a fixed-quantity, interest-rate-bidding and multiple-price-bidding method.

    With 300 billion yuan of MLF funds maturing in July, the net injection via MLF alone will reach 100 billion yuan this month.

    “The move demonstrates policy continuity and would help stabilize market expectations,” said Wang Qing, chief macro analyst at Golden Credit Rating.

    He believes that with liquidity maintained at an ample level in the first half of the year, China’s monetary policy will continue a supportive stance in the second half.

    The MLF was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.

    MIL OSI China News –

  • MIL-OSI China: Xi extends condolences to Putin over plane crash in Russia

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

    BEIJING, July 24 — Chinese President Xi Jinping on Thursday sent a message of condolence to Russian President Vladimir Putin over the heavy casualties caused by the crash of a Russian passenger plane.

    In the message, Xi said he was shocked to learn that a Russian passenger plane had crashed in Russia’s Amur Region, causing heavy casualties. On behalf of the Chinese government and people, he conveyed deep condolences over the loss of lives and extended sincere sympathies to the bereaved families.

    MIL OSI China News –

  • MIL-OSI: Lloyds Bank plc: 2025 Half-Year Results

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 24, 2025 (GLOBE NEWSWIRE) —

    Lloyds Bank plc

    2025 Half-Year Results

    24 July 2025

    Member of the Lloyds Banking Group

    CONTENTS

    Forward-looking statements 1
       
    Statutory information (IFRS)  
    Condensed consolidated balance sheet (unaudited) 2
    Condensed consolidated income statement (unaudited) 2
       
    Financial review 3
       
    Risk management  
    Principal risks and uncertainties 5
    Capital risk 6
    Credit risk 10
    Liquidity risk 20
       
    Statutory information  
    Condensed consolidated half-year financial statements (unaudited) 21
    Condensed consolidated income statement (unaudited) 22
    Condensed consolidated statement of comprehensive income (unaudited) 23
    Condensed consolidated balance sheet (unaudited) 24
    Condensed consolidated statement of changes in equity (unaudited) 25
    Condensed consolidated cash flow statement (unaudited) 28
    Notes to the condensed consolidated half-year financial statements (unaudited) 29
       
    Statement of directors’ responsibilities 52
    Independent review report to Lloyds Bank Plc 53
    Contacts 54


    FORWARD-LOOKING STATEMENTS

    This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Bank plc together with its subsidiaries (the Lloyds Bank Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Lloyds Bank Group’s or its directors’ and/or management’s beliefs and expectations, are forward-looking statements. Words such as, without limitation, ‘believes’, ‘achieves’, ‘anticipates’, ‘estimates’, ‘expects’, ‘targets’, ‘should’, ‘intends’, ‘aims’, ‘projects’, ‘plans’, ‘potential’, ‘will’, ‘would’, ‘could’, ‘considered’, ‘likely’, ‘may’, ‘seek’, ‘estimate’, ‘probability’, ‘goal’, ‘objective’, ‘deliver’, ‘endeavour’, ‘prospects’, ‘optimistic’ and similar expressions or variations on these expressions are intended to identify forward-looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Lloyds Bank Group’s future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Lloyds Bank Group’s future financial performance; the level and extent of future impairments and write-downs; the Lloyds Bank Group’s ESG targets and/or commitments; statements of plans, objectives or goals of the Lloyds Bank Group or its management and other statements that are not historical fact and statements of assumptions underlying such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. Factors that could cause actual business, strategy, targets, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward-looking statements include, but are not limited to: general economic and business conditions in the UK and internationally (including in relation to tariffs); imposed and threatened tariffs and changes to global trade policies; acts of hostility or terrorism and responses to those acts, or other such events; geopolitical unpredictability; the war between Russia and Ukraine; the escalation of conflicts in the Middle East; the tensions between China and Taiwan; political instability including as a result of any UK general election; market related risks, trends and developments; changes in client and consumer behaviour and demand; exposure to counterparty risk; the ability to access sufficient sources of capital, liquidity and funding when required; changes to the Lloyds Bank Group’s or Lloyds Banking Group plc’s credit ratings; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies; volatility in credit markets; volatility in the price of the Lloyds Bank Group’s securities; natural pandemic and other disasters; risks concerning borrower and counterparty credit quality; risks affecting defined benefit pension schemes; changes in laws, regulations, practices and accounting standards or taxation; changes to regulatory capital or liquidity requirements and similar contingencies; the policies and actions of governmental or regulatory authorities or courts together with any resulting impact on the future structure of the Lloyds Bank Group; risks associated with the Lloyds Bank Group’s compliance with a wide range of laws and regulations; assessment related to resolution planning requirements; risks related to regulatory actions which may be taken in the event of a bank or Lloyds Bank Group or Lloyds Banking Group failure; exposure to legal, regulatory or competition proceedings, investigations or complaints; failure to comply with anti-money laundering, counter terrorist financing, anti-bribery and sanctions regulations; failure to prevent or detect any illegal or improper activities; operational risks including risks as a result of the failure of third party suppliers; conduct risk; technological changes and risks to the security of IT and operational infrastructure, systems, data and information resulting from increased threat of cyber and other attacks; technological failure; inadequate or failed internal or external processes or systems; risks relating to ESG matters, such as climate change (and achieving climate change ambitions) and decarbonisation, including the Lloyds Bank Group’s or the Lloyds Banking Group’s ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, and human rights issues; the impact of competitive conditions; failure to attract, retain and develop high calibre talent; the ability to achieve strategic objectives; the ability to derive cost savings and other benefits including, but without limitation, as a result of any acquisitions, disposals and other strategic transactions; inability to capture accurately the expected value from acquisitions; and assumptions and estimates that form the basis of the Lloyds Bank Group’s financial statements. A number of these influences and factors are beyond the Lloyds Bank Group’s control. Please refer to the latest Annual Report on Form 20-F filed by Lloyds Bank plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC’s website at www.sec.gov, for a discussion of certain factors and risks. Lloyds Bank plc may also make or disclose written and/or oral forward-looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Bank plc to third parties, including financial analysts. Except as required by any applicable law or regulation, the forward-looking statements contained in this document are made as of today’s date, and the Lloyds Bank Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document whether as a result of new information, future events or otherwise. The information, statements and opinions contained in this document do not constitute a public offer under any applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect to such securities or financial instruments.


    CONTACTS

    For further information please contact:


    INVESTORS AND ANALYSTS

    Douglas Radcliffe

    Group Investor Relations Director

    020 7356 1571

    douglas.radcliffe@lloydsbanking.com

    Rohith Chandra-Rajan

    Director of Investor Relations

    07353 885 690

    rohith.chandra-rajan@lloydsbanking.com

    Nora Thoden

    Director of Investor Relations – ESG

    020 7356 2334

    nora.thoden@lloydsbanking.com

    Tom Grantham

    Investor Relations Senior Manager

    07851 440 091

    thomas.grantham@lloydsbanking.com

    Sarah Robson

    Investor Relations Senior Manager

    07494 513 983

    sarah.robson2@lloydsbanking.com


    CORPORATE AFFAIRS

    Matt Smith

    Head of Media Relations

    07788 352 487

    matt.smith@lloydsbanking.com

    Emma Fairhurst

    Media Relations Senior Manager

    07814 395 855

    emma.fairhurst@lloydsbanking.com

    Copies of this News Release may be obtained from:
    Investor Relations, Lloyds Banking Group plc, 33 Old Broad Street, London, EC2N 1HZ
    The statement can also be found on the Group’s website – www.lloydsbankinggroup.com

    Registered office: Lloyds Bank plc, 25 Gresham Street, London, EC2V 7HN
    Registered in England No. 2065

    Click on, or paste the following link into your web browser, to view the associated PDF document.

    http://www.rns-pdf.londonstockexchange.com/rns/4360S_1-2025-7-24.pdf

    This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

  • MIL-OSI: Silvaco Strengthens Leadership Team with Three Industry Veterans to Drive Innovation and Growth

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., July 24, 2025 (GLOBE NEWSWIRE) — Silvaco Group, Inc. (“Silvaco”) (NASDAQ: SVCO), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation, today announced the addition of three seasoned industry veterans to its leadership team: Andrew Wright as Senior Vice President and General Manager of the Semiconductor IP Business Unit, Jasvinder Singh as Senior Vice President and General Manager of the EDA Business Unit, and John Berg as Vice President of Business Development. Collectively, they bring decades of experience in semiconductor design and software development to Silvaco and will play pivotal roles in accelerating innovation and operational excellence.

    “Adding these accomplished leaders strengthens our ability to innovate and scale Silvaco’s organic growth,” said Babak Taheri, CEO of Silvaco. “Their insights and proven track records will help advance and accelerate the next phase of our growth. With their expertise, we are well-positioned to broaden our market presence and deliver even greater value to our customers worldwide.”

    Andrew Wright leads Silvaco’s Semiconductor IP Business Unit. Most recently, he served as Senior Vice President of R&D and New Product Introduction at Efabless. He previously served as Executive Vice President of New Product Development at Cypress Semiconductor where he led the company’s chip and IP design methodologies and oversaw the development of all Cypress IP and new products. He has also held executive roles at UltraSense and Waterbit.

    Jasvinder Singh leads Silvaco’s EDA Business Unit. With over 20 years of leadership experience in EDA, AI, semiconductor and autonomous systems. Jasvinder has built and scaled global R&D teams and driven product, platform and engineering growth for multi-billion-dollar organizations. He has held senior roles at Synopsys, SiClarity, and Cadence, where he led innovations across AI, verification and cloud-enabled design platforms.

    John Berg leads business development across all of Silvaco’s product lines. He brings over two decades of leadership experience in quantum computing, semiconductor electronics, and photonics. John has a track record of productizing transformative hardware technologies and solving complex operational challenges. Most recently, he served as Vice President of Supply Chain at PsiQuantum. He has held senior leadership roles at American Semiconductor, Nantero, and Cypress Semiconductor.

    About Silvaco Group, Inc.
    Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan. Learn more at silvaco.com.

    Contacts
    Media Relations:
    Tiffany Behany, press@silvaco.com

    Investor Relations:
    Greg McNiff, investors@silvaco.com

    The MIL Network –

  • MIL-OSI Europe: Remarks by President António Costa at the joint press conference with President von der Leyen following the EU-China Summit in Beijing

    Source: Council of the European Union

    European Council President António Costa held a joint press conference with European Commission President Ursula von der Leyen, following the EU-China summit held in Beijing on 24 July 2025. In his remarks, President Costa underlined the importance of the EU-China relationship.

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: CSB and CMAB co-organise talk to commemorate 80th anniversary of victory in Chinese People’s War of Resistance against Japanese Aggression and in World Anti-Fascist War (with photos)

    Source: Hong Kong Government special administrative region

    CSB and CMAB co-organise talk to commemorate 80th anniversary of victory in Chinese People’s War of Resistance against Japanese Aggression and in World Anti-Fascist War  
         During the talk, Professor Wang gave a comprehensive analysis of the history of the Chinese People’s War of Resistance against Japanese Aggression, delving into the historical status, major contributions and the significance of the war as the main Eastern battlefield of the World Anti-Fascist War, as well as the Communist Party of China’s role as the pillar of the War of Resistance. Professor Lau also shared with participants the heroic deeds of the East River Column and the Hong Kong-Kowloon Brigade during the war period.
     
         The Secretary for the Civil Service, Mrs Ingrid Yeung, politically appointed officials and civil servants in the directorate, senior and middle ranks attended the talk today. Together with those participating via video conferencing, over 200 participants attended the talk.
     
         Delivering the opening remarks, Mrs Yeung said that civil servants shoulder the important mission of serving the people of Hong Kong and contributing to the prosperous development of the country. She pointed out that civil servants should learn from history, firmly safeguard national sovereignty, security and development interests, uphold the spirit of “patriots administering Hong Kong”, and make greater contributions to the prosperity and stability of Hong Kong and the lasting peace and stability of the country.
     
         She encouraged civil servants to actively participate in the thematic seminars and learning activities organised to commemorate the 80th anniversary of victory in the War of Resistance, to deepen their understanding of the history and significance of the War of Resistance against Japanese Aggression, and to truly appreciate the indomitable spirit of the Chinese people and the importance of safeguarding national security.
    Issued at HKT 21:37

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Ria Money Transfer strengthens Asia Pacific presence through strategic acquisition of Kyodai Remittance

    Source: GlobeNewswire (MIL-OSI)

    BUENA PARK, Calif., July 24, 2025 (GLOBE NEWSWIRE) — Ria Money Transfer (Ria), a global leader in the cross-border money transfer industry and a business segment of Euronet (NASDAQ: EEFT), today announced that it has become the majority shareholder through the acquisition of 60% of the shares of Unidos Co., Ltd., widely recognized by customers as Kyodai Remittance, a Japan-based funds transfer business and overseas remittance specialist. Leveraging Kyodai’s deep market insight, nuanced understanding of local customer needs and its distinction as the first remittance operator in Japan to be granted a Type 1 Funds Transfer Service Provider license—enabling the processing of high-value transactions exceeding JPY 1 million (approximately USD $6,800)—Ria is set to expand its footprint across the Asia Pacific region.

    Ria and Kyodai have maintained a close and collaborative relationship since 2010. Over the past 15 years, the companies have leveraged their omnichannel strategies to deliver a seamless and integrated customer experience across multiple touchpoints in Japan, such as 44,000 ATMs in Japan Post Bank and Lawson Bank locations nationwide. With the acquisition of a majority stake, Ria will now fully integrate Kyodai’s operations, including its digital products, and provide customers access to its expansive global network of more than 624,000 locations, 4 billion bank accounts, 3.2 billion digital wallets, and Visa debit cards worldwide.

    This acquisition comes amid significant demographic changes in Japan that are reshaping both its society and economy. According to the latest International Migration Outlook report by the Organization for Economic Co-operation and Development (OECD), 144,000 new immigrants moved to Japan on a long-term or permanent basis in 2022, with 55% of them being labor migrants. The top three nationalities were Vietnam, China and Indonesia, reflecting a 150% increase compared to the previous year. This labor market transformation has also impacted the remittance sector. According to the World Bank Group, more than USD $6.07 billion was paid in personal remittances from Japan in 2024, ranking among the top third sending countries in Asia.

    “Kyodai’s success has always been rooted in our values, principles and the unwavering dedication of our employees,” said Yuichiro Kimoto, Chief Executive Officer of Kyodai Remittance. “This new chapter with Ria will allow us to scale further by tapping into a world-class global network, ultimately enhancing our service offering and creating more value for our customers.”

    “Ria and Kyodai’s 15-year partnership has thrived because we share a common mission and values,” said Shawn Fielder, President & Chief Executive Officer of Ria. “Together, we remain committed to delivering secure, convenient, and customer-focused money transfer solutions. By joining forces, we are well-positioned to make an even greater impact on the lives of people in Japan and the communities we serve worldwide.”

    About Ria Money Transfer

    Ria Money Transfer, a business segment of Euronet (NASDAQ: EEFT), delivers innovative financial services including fast, secure, and affordable global money transfers. With the world’s largest cross border real-time money movement network, Ria moves money where it matters.

    Bridging the gap between digital and physical spaces, Ria’s omnichannel products and services provide unprecedented consumer choice, including real-time payments, mobile wallets, currency exchange, home delivery, and cardless ATM payouts. Ria’s global infrastructure, powered by the Dandelion real-time, cross-border payments network, facilitates financial access to customers, agents and partners alike. By creating new market opportunities and promoting economic growth around the world, Ria opens ways for a better everyday life.

    The MIL Network –

  • MIL-OSI Russia: China hopes Thailand and Cambodia can properly resolve dispute through dialogue, MFA says

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 24 (Xinhua) — China is deeply concerned about the ongoing border conflict between Thailand and Cambodia and hopes the two countries can properly resolve the dispute through dialogue and consultation, Foreign Ministry spokesperson Guo Jiakun said Thursday.

    Calling Thailand and Cambodia China’s friendly neighbors and important members of ASEAN, the Chinese diplomat noted that good-neighborliness and proper settlement of differences are in the fundamental and long-term interests of both sides.

    In view of the common interests and concerns of countries in the region, China, in a fair and impartial position, continues to make efforts to promote reconciliation and peace talks, thereby playing a constructive role in easing tensions, the Chinese Foreign Ministry spokesman stressed. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: China publishes report on research into building SCO community of common destiny

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    ZHENGZHOU, July 24 (Xinhua) — A research report on building a community with a shared future for the Shanghai Cooperation Organization (SCO) was released by a think tank in China on Thursday, calling for a closer regional community with a shared future and focusing on expanding dialogue among civilizations and people-to-people cooperation.

    The document was released by the Institute of Russian, Eastern European and Central Asian Studies of the Chinese Academy of Social Sciences (CASS) in Zhengzhou, capital of Henan Province, central China.

    The report notes that building a community of shared destiny for the SCO is an important step in line with the flow of history and a significant conceptual innovation in contemporary international relations. It is necessary to formulate a framework for action aimed at promoting regional cooperation through stability and achieving regional prosperity through development.

    In order to fully realize the high-quality platform function of the SCO, all member states should accumulate collective strength while taking into account their own interests, the document added.

    According to the report, the SCO member states have different cultural traditions. They should attach great importance to organizing a broad dialogue among civilizations and cooperation in the fields of culture, education, science and technology, sports, expand exchanges between different groups of people, especially between the media and youth, and continue to hold high-level forums of people’s diplomacy, media forums, youth forums and women’s forums.

    The report emphasizes that in order to improve the regional governance system and make joint efforts to implement modernization, it is necessary to clearly understand the differences between the current major tasks and long-term goals for the future. A series of small-scale but effective projects for improving the people’s well-being of the member states of the organization should be implemented to demonstrate the most significant signs of building a community of common destiny of the SCO. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Flash: Xi Jinping sends condolence telegram to Russian President Vladimir Putin over Russian passenger plane crash

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Xinhua | 24.07.2025

    Key words: China-Russia

    Source: Xinhua

    Flash: Xi Jinping sends telegram of condolences to Russian President Vladimir Putin over Russian passenger plane crash Flash: Xi Jinping sends telegram of condolences to Russian President Vladimir Putin over Russian passenger plane crash

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Explosion in northwest Syria, casualty toll under investigation

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    DAMASCUS, July 24 (Xinhua) — A powerful explosion rocked northwestern Syria’s Idlib province on Thursday, causing casualties and causing fires near the town of Maarat Misreen, Syrian state-run Al-Ikhbariya TV reported.

    Idlib’s Disaster Management Authority confirmed that the blast, whose cause has not yet been determined, killed and injured people. Private Syria TV reported that the blast likely occurred at an ammunition depot in the area.

    The Syrian Observatory for Human Rights also reported an unidentified aircraft flying over the region at the time of the explosion, although no official statement has confirmed the airstrike.

    The number of victims and the cause of the explosion are being determined. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI: Primech Holdings Announces Fiscal Year 2025 Results, Contracted Revenue Backlog at $120.8 Million

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 24, 2025 (GLOBE NEWSWIRE) — Primech Holdings Limited (Nasdaq: PMEC), an established technology-driven facilities-services provider to public and private-sector customers in Singapore, today reported audited financial results for the fiscal year ended March 31, 2025.

    FY 2025 Highlights:

    • Revenue grew 2.5% to $74.3 million for the fiscal year ended March 31, 2025, compared with revenue of $72.5 million in fiscal year 2024.
    • Gross profit margin expanded 130 basis points to 23.6% as technology adoption and grant support offset wage pressures.
    • Net loss narrowed 40% to $2.2 million, or $(0.05) per basic and diluted share, compared to a net loss of $3.2 million, or $(0.10) per share.
    • Cash and cash equivalents increased by 32.7% to $10.1 million; total assets were $41.2 million, and total liabilities were $26.5 million.
    • Future contracted revenue, scheduled for recognition in FY 2026 and onward, totals $120.8 million, providing multi-year visibility.

    Fiscal Year 2025 Financial Results:

    Financial Metrics (US$ millions, except per share data) FY 2025 FY 2024 Change
    Revenue $74.3 $72.5 +2.5%
    Gross profit $17.5 $16.0 +9.8%
    Gross profit margin 23.6% 22.0% +160 bps
    Operating loss $(0.9) $(2.8) +65.9% improvement
    Net loss $(2.2) $(3.2) +31.1% improvement
    Basic & diluted EPS $(0.05) $(0.10) +50.0% improvement
    Cash & cash equivalents $10.1 $7.6 +32.6%
           

    Primech A&P Highlights:

    • Over $18.9 million in new contracts secured during fiscal year 2025, including a major contract extension worth $8.3 million
    • Industry recognition achievements, including ASEAN Public Toilet Award for Newton Food Centre management and LOO Awards 2024 Best Market Award
    • Sustainability leadership with nomination as a finalist for the Singapore Apex Corporate Sustainability Awards in the “LowCarbonSG” category
    • Strategic partnerships, including membership in the Singapore International Facility Management Association (SIFMA)

    Primech AI Highlights:

    • Revolutionary HYTRON robot launch with successful deployments at Temasek Polytechnic, a major Singapore shopping mall, and one of Singapore’s largest hospitals
    • Global expansion achievements, including partnerships in Hong Kong (Chinachem Group), Japan (Golden Rim Investment), and Europe (TCOrobotics GmbH covering Germany, Austria, and Switzerland)
    • Technology excellence recognition, winning the Robotics category at the Singapore Business Review Technology Excellence Awards 2025
    • Advanced AI integration incorporating NVIDIA Jetson Orin technology components for enhanced robotics performance
    • Manufacturing scale-up with a China production partnership targeting 300 robots’ initial production capacity
    • Product innovation with the launch of the compact HYTRON Lite model optimized for space-constrained environments

    CEO Commentary
    “Primech delivered resilient top-line growth and achieved a significant improvement in our bottom line during our second year as a public company,” said Mr. Kin Wai Ho, Chairman and Chief Executive Officer. “More importantly, this year marked our dramatic transformation into a technology-first organization through our revolutionary HYTRON AI-powered cleaning robots and aggressive global expansion strategy. We’ve evolved from a traditional facilities services company into an innovative robotics and automation leader.”

    “Our HYTRON technology represents the future of commercial cleaning. We’ve successfully deployed robots at prestigious locations and established partnerships across Singapore, Hong Kong, Japan, and Europe. With our three-phase expansion plan and $120.8 million of contracted backlog, we are positioned to return to profitability and capture significant market share in the rapidly growing global service robotics sector.”

    Future Contracted Revenues
    As of March 31, 2025, our contracted revenues for future fulfilment were approximately $120.8 million. The following table provides a breakdown of the value of our contracted revenues, which we estimate will be fulfilled in FY2026, FY2027, and subsequent years, subject to cancellations or other contractual changes that are not presently foreseeable. Our order book as of any particular date is not indicative of our revenue for succeeding periods, as secured contracts are subject to cancellations, deferrals, or early terminations by our customers:

      ($’000) (%)
    Estimated amount of services contracted for at April 1, 2025 to be recorded in revenue for FY ending March 31,
    2026    		 59,876 49.5
    Estimated amount of services contracted for at April 1, 2026 to be recorded in revenue for FY ending March 31,
    2027    		 34,069 28.2
    Estimated amount of services contracted for at April 1, 2027 to be recorded in revenue for FY ending March 31,
    2028    		 26,899 22.3
      120,844 100.0
         

    Annual Report on Form 20-F
    The Company will file its annual report on Form 20-F for the fiscal year ended March 31, 2025 with the Securities and Exchange Commission later today, which can be accessed on the SEC’s website at https://www.sec.gov and on Primech’s investor relations website at https://investor.primechholdings.com/filings/. 

    About Primech Holdings Limited
    Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.    

    About Primech AI
    Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    Company Contact:
    Email: ir@primech.com.sg

    Investor Relations Contact:        
    Matthew Abenante, IRC
    President                                        
    Strategic Investor Relations, LLC                                         
    Tel: 347-947-2093
    Email: matthew@strategic-ir.com

     
    ***tables follow***
    Primech Holdings Limited and Subsidiaries
    Consolidated Balance Sheets
    (in thousands except share data, U.S. dollars)
     
        As of March 31,  
        2025     2024  
    Assets            
    Current assets            
    Cash and cash equivalents   $ 10,145     $ 7,648  
    Accounts receivable, net (including unbilled receivable of $3,520 and $4,068)     15,633       18,452  
    Government subsidies receivable     1,485       1,368  
    Prepaid expenses and other current assets     1,700       3,810  
    Inventories     44       55  
    Total current assets     29,007       31,333  
                     
    Non-current assets                
    Property and equipment, net     9,686       10,082  
    Right of use assets     2,114       3,406  
    Goodwill     391       667  
    Intangible assets, net     2       21  
    Total assets   $ 41,200     $ 45,509  
                     
    Liabilities and shareholders’ equity                
    Current liabilities                
    Accounts payable and accrued expenses   $ 10,330     $ 9,406  
    Notes payable-current portion     8,481       11,277  
    Lease liabilities-current portion     1,595       2,059  
    Income tax liabilities     461       —  
    Total current liabilities     20,742       22,742  
                     
    Non-current liabilities                
    Notes payable-long term     4,331       5,705  
    Lease liabilities-long term     1,068       1,752  
    Deferred tax liability     255       251  
    Total liabilities     26,521       30,450  
                     
    Shareholders’ Equity                
    Common Stock, 38,417,987 and 35,550,000 shares issued and outstanding as of March 31, 2025 and 2024, respectively,     23,961       22,193  
    Additional paid-in capital     924       924  
    Accumulated other comprehensive income     995       923  
    Accumulated deficit     (10,991 )     (9,049 )
    Total Primech Holdings Limited shareholders’ equity     14,889       14,991  
                     
    Non-controlling interests     (210 )      68  
    Total shareholders’ equity     14,679       15,059  
    Total liabilities and shareholders’ equity   $ 41,200     $ 45,509  
     
    Primech Holdings Limited and Subsidiaries
    Consolidated Statements of Operations and other Comprehensive Loss
    (in thousands except share and per share data, U.S. dollars)
     
        For the Years Ended
    March 31,    		  
        2025     2024  
    Revenues            
    Revenues, net   $ 74,349     $ 72,524  
                     
    Operating costs and expenses                
    Cost of revenue (net of $4,148 and $2,550 of government subsidies)     56,823       59,915  
    General and administrative expenses (net of $318 and $68 of government subsidies)     16,176       13,160  
    Sales and marketing expenses     2,007       2,231  
    Goodwill impairment     291       —  
    Total operating costs and expenses     75,297       75,306  
    Loss from operations     (948 )     (2,782 )
    Other operating income, net (includes $8 and $202 of government subsidies)     (27 )      211  
    Interest expense     (789 )     (1,145 )
    Loss before income taxes     (1,764 )     (3,716 )
    Income tax benefit     (456 )      493  
    Net loss     (2,220 )     (3,223 )
    (Profit)/ loss attributable to non-controlling interests     278       (16 ) 
    Net loss attributable to Primech Holdings Limited     (1,942 )     (3,239 )
    Total foreign currency translation adjustment     72       (24 ) 
    Comprehensive loss   $ (1,870 )     (3,263 )
                     
    Earnings loss per share:                
    Basic and diluted   $ (0.05 )   $ (0.10 )
                     
    Weighted average number of ordinary shares outstanding:                
    Basic and Diluted     37,584,000       33,929,000  
     
    Primech Holdings Limited and Subsidiaries
    Consolidated Statements of Cash Flows
    (in thousands except share data, U.S. dollars)
     
        For the Years Ended
     March 31,    		  
        2025     2024  
    Cash flows from operating activities:            
    Net loss   $ (2,220 )   $ (3,223 )
    Adjustments to reconcile net loss to net cash used in operating activities:                
    Depreciation of property and equipment     1,483       1,640  
    Amortization of right of use assets     2,479       2,203  
    Loss (gain) on disposal of property and equipment     1       (13 )
    Amortization of intangible assets     29       29  
    Share based payment     1,768       —  
    Provision for doubtful accounts     31       —  
    Impairment of Goodwill     291       —  
                     
    Change in operating assets and liabilities:                
    Deferred tax liability     —       (454 ) 
    Accounts receivable     2,888       (3,330 )
    Government subsidies receivables     (111 )      290  
    Prepaid expenses & other current assets     2,132       (2,657 ) 
    Inventories     11       84  
    Accounts payable and accrued expenses     879       (1,329 ) 
    Operating lease liability     (2,731 )     (2,322 )
    Tax payable     462       —  
    Net cash used in operating activities     7,382       (9,082 )
                     
    Cash flows from investing activities:                
    Acquisition of property and equipment     (1,098 )     (909 )
    Proceeds from sale of property and equipment     67       102  
    Net cash used in investing activities     (1,031 )     (807 )
                     
    Cash flows from financing activities:                
    Net Proceeds from issue of new shares     —       9,473  
    Deferred offering costs     —       545  
    Payment of finance lease liabilities     (126 )     (86 )
    Repayment of bank loans     (159,107 )     (3,163 )
    Proceeds from bank loans     154,846       1,412  
    Net cash provided by financing activities     (4,387 )      8,181  
                     
    Net (decrease) increase in cash and cash equivalents     1,963       (1,708 ) 
    Effect of exchange rate changes on cash and cash equivalents     533       284  
    Cash and cash equivalents, beginning of year     7,648       9,072  
    Cash and cash equivalents, end of year   $ 10,145     $ 7,648  
                     
    Supplemental disclosure of non-cash investing and financing transactions                
    Acquisition of equipment under finance leases     367       173  
    Recognition of Right of use assets and liabilities     1,167       2,553  

    The MIL Network –

  • MIL-OSI: KraneShares Launches Global Private Company Fund Tracking a New MSCI Index of Venture-Backed Firms

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Krane Capital Management, LLC (“KraneShares”), a global asset management firm recognized for its innovative investment solutions, today announced the launch of the Krane MSCI All Country Private Company Top 10 Series.

    This new offering provides accredited investors with access to a diversified portfolio of large and dynamic venture-backed global private companies, as tracked by the MSCI All Country Venture-Backed Private Company Top 10 Equal Weighted Index.

    The Index is a research-driven benchmark identifying some of the most valuable and influential global private companies with secondary market trading activity. As of June 2, 2025, the Index’s constituents collectively represent over $1.5 trillion in market capitalization1, spanning industries such as artificial intelligence, fintech, aerospace, and digital media.

    The fund seeks to acquire shares in leading private companies through direct purchases, secondary transactions, or derivative contracts. The portfolio will consist of the ten private companies tracked by the index, which currently are SpaceX, ByteDance, OpenAI, Stripe, xAI, Databricks, Anthropic, Revolut, Anduril, and Canva.

    “Our mission at KraneShares is focused on delivering first-to-market, high-conviction strategies that provide investors with transparent and cost-effective access to groundbreaking capital market opportunities like the private markets,” said Jonathan Krane, CEO of KraneShares. “Through their newly launched index, MSCI is applying institutional-class indexing capabilities to identify some of the largest global venture-backed companies with secondary market activity, which we aim to deliver to investors through our fund.

    “The MSCI All Country Venture-Backed Private Company Indexes represent a significant step forward for investors seeking transparency and actionable insights in private markets. By leveraging robust secondary market data and our decades of index construction expertise, we are enabling investors to benchmark and analyze this dynamic asset class with greater clarity and confidence,” said Christine Berg, Head of Americas Index at MSCI. “We are thrilled that KraneShares is utilizing our index to provide access to this asset class to investors.” 

    For more information on the Krane MSCI All Country Private Company Top 10 Vintage 2025 Series 1 Fund, please visit https://kraneshares.com/private-funds/krane-msci-all-country-private-company-top-10-series/.

    Fund Structure and Terms

    Fund Legal Name Krane MSCI All Country Private Company Top 10 Vintage 2025 Series 1 Fund (KC VC 1, LP)
    Index Provider MSCI
    Index MSCI All Country Venture-Backed Private Company Top 10 Equal Weighted Index
    Minimum Capital Commitment $2,500
    General Partner KCM GP, LLC
    Management Company Krane Capital Management, LLC
       

    About KraneShares

    Krane Capital Management, LLC is a subsidiary of Krane Funds Advisors, LLC (KraneShares), a specialist investment manager focused on China, Climate, and Alternative Assets. KraneShares seeks to provide innovative, high-conviction, and first-to-market strategies based on the firm and its partners’ deep investing knowledge. KraneShares identifies and delivers groundbreaking capital market opportunities and believes investors should have cost-effective and transparent tools for attaining exposure to various asset classes. KraneShares was founded in 2013 and serves institutions and financial professionals globally. The firm is a signatory of the United Nations-supported Principles for Responsible Investment (UN PRI).

    About MSCI

    MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data and technology, MSCI powers better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. MSCI creates industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process. To learn more, please visit www.msci.com.

    Citations:

    1. Data from MSCI as of 6/02/2025.

    Risk Disclosures:

    The Fund has not yet received any investments or started its operations, and it lacks any historical record or performance. This information is only a brief summary and is not exhaustive. The terms mentioned here may undergo significant changes without prior notice. It’s essential to note that certain crucial details about the stated terms are omitted, and other key Fund terms are not addressed in this summary. To gain a comprehensive understanding, potential investors should refer to the Fund’s private placement memorandum, limited partnership agreement and subscription agreement (collectively, “the Fund Documents”), which will take precedence in case of any conflicts with the general terms provided here.

    An investor should base any investment decisions solely on the information contained in the Fund Documents. Furthermore, there is no assurance that the Fund will achieve its fundraising goals, which could impact its ability to carry out its objectives.

    An investment in the Fund is speculative, involves a high degree of risk, and is suitable only for persons who are willing and able to assume the risk of losing their entire investment.

    The Fund’s portfolio intends to invest in ten private companies tracked by the Index. The Target List does not represent all private technology companies, rather, only private technology companies listed on the MSCI All Country Venture-Backed Private Company Top 10 Equal Weighted (June 2025 Vintage) Index. The Target List may include certain companies that perform poorly or omit other companies that perform well. The Partnership may not invest in all the companies comprising the Target List and may need to expand the pool of investments to fully invest its capital. For the avoidance of doubt, the Partnership’s performance will not track the Target List, in part because the Partnership may not be able to participate in the desired amount or may be weighted differently and therefore the Fund’s performance may deviate from that of the Target List. There is no assurance that the Partnership will achieve its investment or risk management objectives or be profitable.

    The Partnership may invest in portfolio companies which are significantly debt-financed by third parties. While investments in leveraged companies offer the opportunity for capital appreciation, such investments also involve a higher degree of risk.

    The Partnership generally seeks to invest and may be concentrated in private, high-growth technology companies which often include the risks of, rapidly changing science and technologies; obsolescence, fierce competition and rapidly changing investor sentiments and preferences with regard to technology sector investments. Information technology companies may be smaller and less experienced companies, with limited operating history.

    The Interests are being offered without registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”), in reliance upon an exemption contained in Section 4(a)(2) of the Securities Act. Investors will generally not have the right to withdraw from the Partnership (unless permitted by the General Partner in its discretion or as otherwise set forth in the Partnership Agreement) and should be viewed as illiquid. Investors may not be able to redeem their interests in the amount or at the time desired and should only be considered by investors who can bear such risk for an indefinite period of time.

    This communication is not intended by Krane or any of its affiliated funds as an offer to sell, or the solicitation of an offer to purchase, any Security. The information set forth in the communication is provided for informational and discussion purposes only and is not intended to be, and shall not be regarded or construed as, a recommendation for a transaction or investment, financial or other advice of any kind. It does not constitute or imply any commitment whatsoever, including without limitation an offer to purchase, sell or hold any Security or to enter into or arrange any type of transaction. Any offering will be made only where permitted by law and by means of the Fund Documents that will contain detailed information about any investment to be offered; no sales will be made, and no commitments to enter into investments will be accepted, and no money is being solicited or will be accepted, until the Fund Documents are made available to prospective investors. Any indication of interest from prospective investors in response to the information provided in the communication involves no obligation or commitment of any kind. Any investment decisions should be based solely on the data in the Fund Documents and after consultation with an investor’s independent advisors.

    The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Private Placement Memorandum contains a more detailed description of the limited relationship MSCI has with Krane Capital Management, LLC and any related funds.

    The target list of companies herein was compiled based on an MSCI index of private technology companies named “MSCI All Country Venture-Backed Private Company Top 10 Equal Weighted (June 2025 Vintage) Index”. KraneShares licenses this list from MSCI.

    An investment in the Fund would not be appropriate for all investors and involves important legal, operational and tax consequences and investment risks (including, in some cases, volatility, currency and credit risk, illiquidity, and/or loss of principal), each of which should be independently assessed by investors with their professional advisors prior to transacting. This communication does not take into account individual investor circumstances, objectives, or needs. No determination has been made regarding the suitability of any securities, financial instruments, or strategies for particular investors or prospects.

    The interests in the Fund have not been approved or recommended by any United States federal or state securities commission or regulatory authority. The foregoing authorities have not confirmed the accuracy or determined the adequacy of the communication. Any representation to the contrary is a criminal offense.

    THIS COMMUNICATION DOES NOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ISSUES RELATED TO AN INVESTMENT IN THE FUND. BEFORE INVESTING IN THE FUND, POTENTIAL INVESTORS SHOULD FULLY UNDERSTAND THE FUND’S TERMS AND ANY APPLICABLE RISKS, SOME, BUT NOT ALL, OF WHICH ARE DESCRIBED IN MORE DETAIL IN THE FUND DOCUMENTS.

    Foreside Fund Services, LLC provides marketing review services. Foreside Fund Services, LLC is not affiliated with Krane Capital Management, LLC.

    Contact:
    KraneShares Investor Relations
    info@kraneshares.com

    The MIL Network –

  • MIL-OSI Africa: Afreximbank to avail $75 million to Central Bank of The Gambia in a cross-currency swap

    Source: APO

    African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has signed an agreement to avail a US$75-million five-year cross-currency swap to the Central Bank of The Gambia (CBG) for the financing of strategic projects undertaken in The Gambia by the Government, through the National Roads Authority (NRA).

    The agreement, signed in Abuja, Nigeria, as part of activities to mark the 32nd Afreximbank Annual Meetings (AAM2025) held from 25 to 28 June, provides for Afreximbank to use the local currency proceeds to purchase NRA-issued bonds, which will serve as the swap securities for the transaction, to finance strategic projects undertaken by the Agency.

    Signing the agreement for Afreximbank was Mr. Haytham Elmaayergi, Executive Vice President, Global Trade Bank, Afreximbank, while Mr. Buah Saidy, Governor of Central Bank of The Gambia, signed for his organisation.

    Commenting on the agreement, Mr. Elmaayergi said that the transaction reflected Afreximbank’s commitment to driving trade finance in Africa by supporting its member countries to achieve much needed liquidity to enable them finance trade-enabling infrastructure in their countries.

    “Through this facility, Afreximbank is using its resources to leverage financing to Africa by unlocking capital and creating additional capacity in support of trade transactions into Africa,” he explained. He noted that this partnership comes at a pivotal time in The Gambia’s development trajectory, as the country intensifies efforts to upgrade its transport infrastructure to meet growing trade and connectivity needs. The cross-currency swap is expected to support the construction and rehabilitation of both rural and urban road networks, reinforcing the Gambia’s commitment to building a more connected, productive and inclusive economy.

    According to him, this initiative will enable more efficient movement of goods and services, reduce travel times for commuters and businesses, and improve road safety. Over the long term, these developments will contribute to a more reliable and extensive national road network, helping to deepen regional integration, enhance agricultural and industrial output, and promote sustainable, broad-based economic growth across the country. This transaction underscores Afreximbank’s ongoing commitment to supporting African countries in mobilizing innovative financing tools to unlock development and trade potential.

    On his part, Governor Buah Saidy acknowledged the need for development financing to address supply-sided constraints to development in The Gambia.  This swap, he said “will relax the binding constraint of a challenging transport network, by enabling NRA to build many more roads that H.E. President Adama Barrow has instructed them to build to ease the movement and lives of Gambians”.

    Governor Saidy noted that the financing made available through the swap will allow NRA to build roads that will open up the economy by connecting the production areas in the rural parts of the country to the markets in the urban centres.

    CBG is a founding shareholder of Afreximbank while NRA, established in 2006, is responsible for the administration, control, construction and maintenance of all roads in The Gambia.

    Oakwood Green Africa served as transaction adviser to the NRA and CBG for the transaction, providing them guidance on the structure and facilitating the swap.

    AAM2025, which attracted an estimated 7,000 participants, including Heads of States, Prime Ministers, ministers and business leaders, from across Africa, the Caribbean and beyond, ended with the Annual General Meeting of Afreximbank Shareholders where Dr. George Elombi was appointed the incoming President of the Bank to replace Prof. Benedict Oramah whose tenure is ending after two five-year terms at the helm.

    Distributed by APO Group on behalf of Afreximbank.

    Media Contact:
    Vincent Musumba
    Communications and Events Manager (Media Relations)
    Email: press@afreximbank.com

    Follow on Social Media:
    X: https://apo-opa.co/4lLZIKU
    Facebook: https://apo-opa.co/4kWNH43
    LinkedIn: https://apo-opa.co/41ahgYC
    Instagram: https://apo-opa.co/3TS01HP

    About Afreximbank:
    African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

    For more information, visit: www.Afreximbank.com

    Media files

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    MIL OSI Africa –

  • MIL-OSI Asia-Pac: HKMoA to stage first exhibition of Chinese art master Wu Guanzhong in Korea (with photos)

    Source: Hong Kong Government special administrative region

    HKMoA to stage first exhibition of Chinese art master Wu Guanzhong in Korea       
         The exhibition is presented by the Leisure and Cultural Services Department (LCSD) and jointly organised by the SAC and the HKMoA. The exhibition is made possible by the Wu Guanzhong Art Sponsorship. This exhibition in Seoul is a continuation of the popular thematic exhibition of Wu, held at the HKMoA from March 2024 to March 2025, which achieved great success and attracted more than 570 000 visitors during the exhibition period. Accompanied by insightful excerpts from the artist’s writings, the exhibition allows visitors to explore the art master’s distinctive chromatic aesthetics as well as the countless passions and flights of imagination evoked from the interplay between black and white. There will be opportunities to appreciate iconic paintings such as “Two Swallows”, “Reminiscences of Jiangnan”, “Waterway” and more. 
          
         Wu’s works perfectly fuse Eastern and Western aesthetics. He dedicated his entire life to exploring the integration of Chinese and Western art, studied traditional Chinese ink painting and also ventured into the colourful world of oil painting in his early years. After studying in France, he returned to China. His works are noted for his masterful integration of the emotional depth of traditional Chinese ink painting with Western modernist and abstract composition. In 1992, Wu was among the first living Chinese artists to be honoured with a solo exhibition at the British Museum, and his works are also widely exhibited in Asia, Europe and the United States.
          
         Wu had deep connections with Hong Kong, and held multiple exhibitions and participated in various art events in the city. Over the years, Wu and his family have continuously made donations of Wu’s works and archives to the HKMoA, making up a substantial collection of over 450 items. The HKMoA has become the institution with the largest and most diverse collection of Wu’s works. With the support of the Wu Guanzhong Art Sponsorship, the HKMoA is bringing the museum collection and the research and curatorial insights of the art of Wu overseas, and will continue to promote Wu and modern Chinese art to audiences in different regions and at various levels through comprehensive and diversified perspectives.
          
         In addition, an immersive installation from the “Wu Guanzhong Art Sponsorship Cross-disciplinary Series: Wu Guanzhong x Chris Cheung” will also be on display overseas for the first time, complementing the exhibition. Processed by AI, “Sentient Pond – Seoul Edition” created by Hong Kong artist Chris Cheung generates exclusive paintings by visitors that embody Wu’s brushstrokes and artistic style through machine learning over hundreds of Wu’s paintings from the museum collection, to carry on the unconventional creations and spirit of Wu with a contemporary twist.
          
         Hong Kong Week is an annual arts festival organised by the LCSD, celebrating Hong Kong’s creative excellence worldwide and fostering cultural exchanges and artistic collaboration. This year, the festival will arrive in Seoul for the first time. Beginning on September 26, a total of 14 programmes will feature stage performances, film screenings, outdoor shows, visual art exhibitions, comic creations, fashion designs as well as other fringe activities. 
     
    For details of the exhibition and HK Week@Seoul, please visit the HKMoA’s website at hk.art.museum/en/web/ma/exhibitions-and-events/overseas-wgz-bnw.htmlIssued at HKT 19:25

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    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: Xi Jinping: China, EU should adhere to openness and cooperation, properly handle differences /detailed version-1/

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 24 (Xinhua) — Chinese President Xi Jinping said on Thursday that China and the European Union (EU) should adhere to openness and cooperation and properly handle differences.

    Xi Jinping made the announcement during a meeting with European Council President António Costa and European Commission President Ursula von der Leyen, who are in Beijing to attend the 25th China-EU leaders’ meeting.

    History and reality show that interdependence is not a risk and the intertwining of interests is not a threat, Xi Jinping said, noting that competitiveness cannot be enhanced by “erecting walls and creating barriers” – attempts to decouple and break chains can only lead to self-isolation.

    The head of state stressed that “reducing dependence” should not lead to a reduction in cooperation between China and the EU. Bilateral trade and economic relations, which are essentially complementary and mutually beneficial, should and can achieve dynamic equilibrium through development, Xi Jinping said.

    According to him, China’s high-quality development and opening up have opened up new opportunities and new horizons for China-EU cooperation. Xi Jinping called on both sides to deepen green and digital partnerships and promote mutual investment cooperation.

    Xi Jinping expressed hope that the EU will keep its trade and investment markets open, exercise restraint in using restrictive trade and economic instruments, and create a favorable business environment for Chinese enterprises willing to invest and do business in the EU. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: China increases health insurance funds’ spending on innovative drugs

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 24 (Xinhua) — China’s medical insurance funds’ spending on new drugs, or innovative medicines purchased through government procurement following price negotiations with pharmaceutical companies, increased by an average of 40 percent annually during the 14th Five-Year Plan period (2021-2025), Zhang Ke, director general of the National Medical Security Administration, said Thursday.

    In 2024, the expenditure of health insurance funds on purchasing new drugs through price negotiations increased by 3.9 times compared with the figure in 2020. During the 14th Five-Year Plan period, the total expenditure of China’s health insurance funds reached 12.13 trillion yuan (about 1.7 trillion US dollars), with an average annual increase of 9.1 percent, Zhang Ke said at a press conference. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: The Chinese city of Manzhouli and the Russian Republic of Buryatia have agreed to deepen cooperation

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 24 (Xinhua) — Officials from China’s Manzhouli City and Russia’s Buryatia Republic have agreed to deepen cooperation in agriculture, tourism, logistics and the food industry, the press service of Manzhouli City in the Inner Mongolia Autonomous Region said.

    This week, the 3rd Forum on Scientific, Technical, Trade and Economic Cooperation between Manzhouli and the Republic of Buryatia was held in Manzhouli. It was attended by officials from Manzhouli, the Export Support Center of the Republic of Buryatia, and business representatives from both sides.

    Manzhouli is China’s largest land border crossing, accounting for more than 65 percent of China-Russia trade overland. Those present at the forum called for expanding and raising the level of bilateral cooperation.

    The forum featured presentations of products from enterprises on both sides and meetings of entrepreneurs. A cooperation agreement was concluded between the Manzhouli International Trade Promotion Committee and the Buryatia Chamber of Commerce and Industry.

    The forum aims to strengthen mutual understanding and trust between Chinese and Russian enterprises. Its participants hope to further deepen pragmatic cooperation, achieve mutual benefit and win-win, and give new impetus to the development of friendly relations between China and Russia and the economies of the regions of the two sides. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Asia-Pac: Contract given for works’ completion

    Source: Hong Kong Information Services

    Remaining works under three projects which were previously being carried out by Aggressive Construction Company will be taken up by China Overseas Building Construction, the Housing Authority has announced.

    The authority’s Building Committee & Tender Committee today approved the award of a completion contract for construction works in the Public Housing Development at Tung Chung Area 100 and the Public Housing Development at Tuen Mun Area 29 West, and an underground link that is part of Pak Tin Estate redevelopment Phase 10.

    MIL OSI Asia Pacific News –