Category: Commerce

  • MIL-OSI Russia: Applications from young scientists of the State University of Management have passed the selection of projects in the field of social and political sciences

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    The Expert Institute for Social Research, together with the Ministry of Higher Education and Science of the Russian Federation and the Russian Academy of Sciences, have determined a list of research projects in the field of socio-political sciences that will receive support in the form of a state assignment.

    The list of selected projects includes 29 out of more than 360 applications received. The total amount of support will be more than 60 million rubles.

    Three projects of youth research teams of the State University of Management received support and will be implemented until the end of 2025:

    “Development of the concept of the formation of a digital innovative environment in the context of solving a strategic problem – to achieve technological leadership of Russia.” Head – Candidate of Economics, Associate Professor, Associate Professor of the Department of World Economy and International Economic Relations of IEF GUU Ekaterina Karelina.
    Based on the results of the project, it is expected to develop new mechanisms for the formation of an innovative environment, as well as methods for the formation of corporate strategies of Russian companies in conditions of strengthening international competition due to digital transformation. Based on the results of the project, the foundations will be developed to make changes to the legislation of the Russian Federation on foreign economic activity, including the country’s participation in international trade in digital products, cross-border online trade and import substitution in the technological sector.

    “The historical and political features of Russian civilization as the basic basis of the formation of value sovereignty of Russian youth.” Head-Director of the Business Incubator Guu, graduate student Dmitry Rogov.
    The result of the study will be the recommendations for the support and strengthening of the value sovereignty of the young generation for the executive authorities, which exercise measures of state youth policy to strengthen the traditional spiritual and moral values ​​of the younger generations.

    “Perception and assessment of the youth audience of representation of the value of patriotism on social networks.” Head is a junior researcher at the GUU scientific activity department Anna Sotnikova.
    The purpose of the project is to study and analyze the perception and assessment of the youth audience of representation of the value of patriotism in social networks in the context of the realized state information policy aimed at strengthening the role of traditional Russian spiritual and moral and historical values ​​in the mass consciousness. The result will be the formed system of the main factors of perception and the youth assessment of the value of patriotism on social networks, on the basis of which recommendations will be developed to represent the value of patriotism in social networks for specialized departments and organizations, as well as individual contents manufacturers.

    A special feature of the project selection this year was the expansion of opportunities for young scientists to participate. Based on the results of the selection, support will be given to teams that are 100% composed of young scientists aged up to and including 39 years.

    Experts assessed each submitted application for relevance, quality of planning and scientific novelty of the project. Also among the selection criteria was an assessment of the theoretical and methodological basis of the research and the practical applicability of its results.

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

    MIL OSI Russia News

  • MIL-OSI Europe: Spain: EIB Group and Santander join forces to unlock €370 million to support small businesses and mid-caps in the green transition, women entrepreneurship and the agriculture sector

    Source: European Investment Bank

    EIB

    • A total of €270 million will address various EIB Group policy objectives, including financing the green transition of SMEs and mid-caps and fostering women entrepreneurship.
    • An additional €100 million will be earmarked exclusively for financing projects in the agricultural sector.
    • The operation contributes to the EIB Group strategic priority of strengthening the European agriculture and bioeconomy sectors, to the competitiveness of European SMEs and mid-caps.

    The EIB Group – made up of the European Investment Bank (EIB) and the European Investment Fund (EIF) – has signed a new €250 million securitisation operation with Santander to boost investment by small businesses (SMEs) and mid-caps companies in Spain and to support the agricultural sector and women entrepreneurship in the country. This investment will allow Santander to mobilise up to €370 million to improve access to financing for companies in strategic sectors, boost agricultural development, and support economic cohesion across regions. 

    Under the operation, the European Investment Fund (EIF) commits €200 million through a bilateral guarantee with ING, while the European Investment Bank (EIB) invests €50 million. The entire EIB Group investment is being made through a single securitisation in which other private investors have also participated.

    The EIF €200 million investment will unlock €270 million of additional financing, covering a broad spectrum of EIB Group policy objectives like supporting SMEs and mid-caps green transition, foster women’s entrepreneurship and extend green loans to private individuals.

    The EIB €50 million investment will mobilize €100 million to finance projects in the agricultural sector carried out by SMEs and midcaps operating in Spain. Investments are expected to cover a broad range of activities, such as sustainable and regenerative agriculture, working capital for climate resilience and adaptation crops varieties, infrastructure improvements and water management systems. Approximately 10% of the financing will specifically benefit young and newly installed farmers with the EIB enabling eligibility for financing the acquisition of agricultural land. The investment takes place under the Pan-European Agricultural Programme, an €3 billion package launched by the EIB in 2024 to support agricultural businesses, with a particular focus on businesses led by young entrepreneurs.

    This operation is one more demonstration of the EIB Group’s role of promoting financial instruments like securitisations that help unlock capital for green projects, reduce the risk borne by sponsoring financial institutions and strengthen the EU capital markets union.

    The agreement with Santander contributes to the eight strategic priorities of the EIB Group, specifically to strengthen agriculture and the bioeconomy sectors in Europe, support climate action, encourage women’s entrepreneurship,  promote economic, social and territorial cohesion and foster the EU capital markets union.

    Background information

    About the EIB Group

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

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

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

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

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

    About Santander

    Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. In the first quarter of 2025, Banco Santander had €1.4 trillion in total funds, 175 million customers, 7,900 branches and 207,000 employees.

    MIL OSI Europe News

  • MIL-OSI: ARRAY Technologies to Acquire APA Solar

    Source: GlobeNewswire (MIL-OSI)

    • Adds domestically manufactured engineered foundations and fixed-tilt solutions to product portfolio, expanding addressable market by nearly 40%
    • Enables integrated tracker + foundation system to address challenging soil conditions, which does not require specialized equipment to install
    • Expands U.S. manufacturing capabilities with new Ohio manufacturing facility
    • Transaction enterprise value of approximately $179 million represents a multiple of 7.6x APA’s trailing 12 months EBITDA excluding 45X credits
    • Expected to be high-single-digit percentage accretive to Adjusted EPS in year one before synergies
    • Closing expected in the third quarter of 2025, subject to regulatory approval and customary closing conditions

    ALBUQUERQUE, N.M., June 18, 2025 (GLOBE NEWSWIRE) — ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology products, software, and services for utility-scale solar energy projects, today announced it has entered into a definitive agreement to acquire APA Solar, LLC (“APA”), a leading provider of engineered foundation solutions and fixed-tilt mounting systems for solar projects. APA’s products are manufactured in Ohio and are eligible for incentives tied to domestic content. APA generated approximately $129 million of revenue and $25 million of EBITDA excluding 45X credits in 2024. The acquisition of APA is expected to be accretive to ARRAY’s Adjusted EPS in year one before synergies.

    Following the closing of the acquisition, ARRAY will begin offering an integrated tracker + foundation system, leveraging ARRAY’s advanced solar tracking technology and APA’s innovative foundation solutions. The integrated product offering will provide EPCs and developers a domestically manufactured, easy to install solution for the hard, mixed, and frost heave soil conditions that are increasingly prevalent in new solar projects. ARRAY will also continue to offer APA’s foundation solutions for other tracker systems as well as the company’s fixed-tilt racking products which are widely used in commercial and industrial solar projects in the Northeast and Midwest.

    “We are thrilled to announce the acquisition of APA, a strategic move that strengthens our capabilities and expands the value we deliver to our customers. Demand for engineered foundations is growing rapidly because of their ability to make projects in areas with more challenging soil conditions economically viable. APA has a proven foundation system that performs in the toughest soil conditions, and is more efficient and less costly to install than competitors’ offerings,” commented Kevin G. Hostetler, Chief Executive Officer of Array. Mr. Hostetler added, “The market has been asking for an integrated tracker plus foundation platform – with this acquisition, ARRAY will be in a position to deliver it. We have a shared vision with APA for what our combined technologies can achieve for customers and I’m incredibly excited about the new opportunities we will be able to unlock together.”

    Josh Von Deylen, Chief Executive Officer of APA, said “Joining forces with ARRAY is a tremendous opportunity for our team and our customers. With our shared commitment to innovation and excellence, we’re excited to combine our strengths to drive even greater value for our solar industry partners. This acquisition marks the beginning of an exciting new chapter for our business.”

    Joe Von Deylen, Chief Operations Officer of APA, added “This is a pivotal moment for the APA team. With ARRAY, we gain access to expanded resources, additional expertise, and a global commercial platform to scale our business. We’re confident this partnership will enhance our ability to serve customers in the utility scale segment and further drive our operational excellence.”

    The transaction values APA at approximately $179 million or 7.6x trailing 12 months EBITDA excluding 45X credits, comprised of $168 million of upfront cash consideration, and $42 million of deferred consideration less $31 million of net present value of tax benefits generated as a result of the transaction. The deferred consideration is payable in two equal installments on the first and second anniversary of the closing, each conditioned on the continued employment of Josh and Joe Von Deylen; and may be paid in cash or stock at ARRAY’s option. The final amount of upfront cash consideration and deferred consideration will be determined at closing subject to customary purchase price adjustments. The sellers of APA are also eligible for a performance based earnout with an initial value of $40 million of ARRAY common stock based upon APA’s achievement of certain EBITDA targets during the three-year period following the closing.

    Josh Von Deylen and Joe Von Deylen, the Chief Executive Officer and Chief Operations Officer of APA, respectively, as well as the rest of the company’s senior management team, will remain with APA following the closing of the acquisition and lead the new “Foundation Solutions Business” of ARRAY. APA’s headquarters and principal manufacturing operations will continue to be located in Ridgeville Corners, Ohio.

    Transaction Approvals and Closing Conditions
    The transaction is expected to close in the third quarter of 2025, subject to receiving any required regulatory approvals and the satisfaction of other customary closing conditions. Jefferies LLC acted as exclusive financial advisor and Kirkland & Ellis acted as legal advisor to ARRAY in connection with the transaction. Donelly Penman & Partners acted as exclusive financial advisor, and Rupp, Hagans & Bohmer, LLP and Eastman & Smith as legal advisors to APA.

    Additional information regarding the transaction will be included in a Current Report on Form 8-K to be filed by ARRAY with the U.S. Securities and Exchange Commission (the “SEC”).

    Transaction Conference Call
    ARRAY will conduct a conference call today at 8:30 a.m. EDT to discuss the transaction. A live webcast of the event will be available on the investor relations section of ARRAY’s website at ir.arraytechinc.com. A replay of the webcast will be available for all stakeholders on the investor relations website following the conclusion of the event.

    Additional Resources
    Associated presentation materials regarding the transaction are available on the investor relations section of ARRAY’s website.

    About ARRAY Technologies, Inc.
    ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology to utility-scale and distributed generation customers who construct, develop, and operate solar PV sites. With solutions engineered to withstand the harshest weather conditions, ARRAY’s high-quality solar trackers, software platforms and field services combine to maximize energy production and deliver value to our customers for the entire lifecycle of a project. Founded and headquartered in the United States, ARRAY is rooted in manufacturing and driven by technology – relying on its domestic manufacturing, diversified global supply chain, and customer-centric approach to design, deliver, commission, train, and support solar energy deployment around the world. For more news and information on ARRAY, please visit arraytechinc.com.

    Media Contact:
    Nicole Stewart
    505.589.8257
    nicole.stewart@arraytechinc.com

    Investor Relations Contact:
    ARRAY Technologies, Inc.
    Investor Relations
    investors@arraytechinc.com

    Forward Looking Statements
    This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “anticipates,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” “designed to” or similar expressions and the negatives of those terms. Forward-looking statements include statements regarding the proposed acquisition of APA, the anticipated benefits (including synergies) of the proposed transaction, the anticipated impact of the proposed transaction on the Company’s business and future financial and operating results, the expected timing of the proposed transaction, including the expected closing date of the acquisition and the timing of expected synergies and returns from the proposed transaction, and the Company’s future financial position, business strategy, revenues, earnings, free cash flow, costs, capital expenditures and debt levels of the combined company, and plans and objectives of management for future operations. Actual results and the timing of events could materially differ from those anticipated in such forward-looking statements as a result of certain risks, uncertainties and other factors, including without limitation: the ability to complete the proposed transaction on anticipated terms and timetable; ARRAY’s ability to integrate APA’s operations in a successful manner and in the expected time period; the Company’s ability to achieve the strategic and other objectives relating to the proposed transaction; the possibility that various closing conditions for the proposed transaction may not be satisfied or waived; and risks relating to any unforeseen liabilities of APA; Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company’s most recent Annual Report on Form 10-K and subsequent reports and other documents on file with the SEC, each of which can be found on our website, www.arraytechinc.com. The forward-looking statements included in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

    Non-GAAP Financial Information

    This press release includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), including EBITDA.

    “EBITDA” means, with reference to any historical period of APA Solar, net income (loss) to common shareholders plus interest expense, income tax expense (benefit), depreciation, and amortization.

    We believe that the presentation of EBITDA enhances the reader’s understanding of past financial performance and future prospects. Our management team uses EBITDA in assessing performance, as well as in planning and forecasting future periods. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP.

    EBITDA, as used in this press release, may be different from, and thus may not be comparable to, similarly titled non-GAAP measures used by other companies.

    In the case of non-GAAP financial measures presented for future periods, the Company advises that it is unable to provide reconciliations of such measures without unreasonable effort. Accordingly, such measures should be considered in light of the fact that no GAAP measure of performance or liquidity is available as a point of comparison to such non-GAAP measures.

    The MIL Network

  • MIL-OSI: BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the June 2025 cash distributions for the iShares ETFs listed on the TSX or Cboe Canada which pay on a monthly, quarterly, or semi-annual basis. Unitholders of record of the applicable iShares ETF on June 25, 2025 will receive cash distributions payable in respect of that iShares ETF on June 30, 2025.

    Details regarding the “per unit” distribution amounts are as follows:

    Fund Name Fund Ticker Cash Distribution
    Per Unit
    iShares 1-10 Year Laddered Corporate Bond Index ETF CBH $0.049
    iShares 1-5 Year Laddered Corporate Bond Index ETF CBO $0.051
    iShares S&P/TSX Canadian Dividend Aristocrats Index ETF CDZ $0.128
    iShares Equal Weight Banc & Lifeco ETF CEW $0.066
    iShares Global Real Estate Index ETF CGR $0.293
    iShares International Fundamental Index ETF CIE $0.462
    iShares Global Infrastructure Index ETF CIF $0.592
    iShares Japan Fundamental Index ETF (CAD-Hedged) CJP $0.294
    iShares 1-5 Year Laddered Government Bond Index ETF CLF $0.032
    iShares 1-10 Year Laddered Government Bond Index ETF CLG $0.036
    iShares US Fundamental Index ETF CLU $0.181
    iShares US Fundamental Index ETF CLU.C $0.238
    iShares Global Agriculture Index ETF COW $0.922
    iShares S&P/TSX Canadian Preferred Share Index ETF CPD $0.058
    iShares Canadian Fundamental Index ETF CRQ $0.198
    iShares US Dividend Growers Index ETF (CAD-Hedged) CUD $0.102
    iShares Convertible Bond Index ETF CVD $0.072
    iShares Emerging Markets Fundamental Index ETF CWO $0.623
    iShares Global Water Index ETF CWW $0.442
    iShares Global Monthly Dividend Index ETF (CAD-Hedged) CYH $0.078
    iShares Canadian Financial Monthly Income ETF FIE $0.040
    iShares ESG Balanced ETF Portfolio GBAL $0.334
    iShares ESG Conservative Balanced ETF Portfolio GCNS $0.304
    iShares ESG Equity ETF Portfolio GEQT $0.397
    iShares ESG Growth ETF Portfolio GGRO $0.356
    iShares U.S. Aerospace & Defense Index ETF XAD $0.107
    iShares U.S. Aggregate Bond Index ETF XAGG $0.105
    iShares U.S. Aggregate Bond Index ETF(1) XAGG.U $0.076
    iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) XAGH $0.096
    iShares Core MSCI All Country World ex Canada Index ETF XAW $0.362
    iShares Core MSCI All Country World ex Canada Index ETF(1) XAW.U $0.266
    iShares Core Balanced ETF Portfolio XBAL $0.239
    iShares Core Canadian Universe Bond Index ETF XBB $0.079
    iShares S&P/TSX Global Base Metals Index ETF XBM $0.150
    iShares Core Canadian Corporate Bond Index ETF XCB $0.069
    iShares ESG Advanced Canadian Corporate Bond Index ETF XCBG $0.121
    iShares U.S. IG Corporate Bond Index ETF XCBU $0.122
    iShares U.S. IG Corporate Bond Index ETF(1) XCBU.U $0.088
    iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged) XCD $0.305
    iShares Canadian Growth Index ETF XCG $0.122
    iShares China Index ETF XCH $0.258
    iShares Semiconductor Index ETF XCHP $0.164
    iShares Global Clean Energy Index ETF XCLN $0.327
    iShares Core Conservative Balanced ETF Portfolio XCNS $0.186
    iShares S&P/TSX SmallCap Index ETF XCS $0.156
    iShares ESG Advanced MSCI Canada Index ETF XCSR $0.464
    iShares Canadian Value Index ETF XCV $0.390
    iShares Core MSCI Global Quality Dividend Index ETF XDG $0.074
    iShares Core MSCI Global Quality Dividend Index ETF(1) XDG.U $0.044
    iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) XDGH $0.057
    iShares Core MSCI Canadian Quality Dividend Index ETF XDIV $0.115
    iShares Genomics Immunology and Healthcare Index ETF XDNA $0.159
    iShares Global Electric and Autonomous Vehicles Index ETF XDRV $0.180
    iShares ESG Advanced MSCI EAFE Index ETF XDSR $0.926
    iShares Core MSCI US Quality Dividend Index ETF XDU $0.064
    iShares Core MSCI US Quality Dividend Index ETF(1) XDU.U $0.046
    iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) XDUH $0.055
    iShares Canadian Select Dividend Index ETF XDV $0.108
    iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) XEB $0.059
    iShares Core MSCI Emerging Markets IMI Index ETF XEC $0.334
    iShares Core MSCI Emerging Markets IMI Index ETF(1) XEC.U $0.245
    iShares Core MSCI EAFE IMI Index ETF XEF $0.712
    iShares Core MSCI EAFE IMI Index ETF(1) XEF.U $0.523
    iShares S&P/TSX Capped Energy Index ETF XEG $0.182
    iShares MSCI Europe IMI Index ETF (CAD-Hedged) XEH $0.633
    iShares S&P/TSX Composite High Dividend Index ETF XEI $0.136
    iShares MSCI Emerging Markets Index ETF XEM $0.272
    iShares MSCI Emerging Markets ex China Index ETF XEMC $0.476
    iShares Jantzi Social Index ETF XEN $0.239
    iShares Core Equity ETF Portfolio XEQT $0.267
    iShares ESG Aware MSCI Canada Index ETF XESG $0.224
    iShares S&P/TSX Energy Transition Materials Index ETF XETM $0.464
    iShares MSCI Europe IMI Index ETF XEU $0.611
    iShares Exponential Technologies Index ETF XEXP $0.147
    iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) XFH $0.578
    iShares Core Canadian 15+ Year Federal Bond Index ETF XFLB $0.112
    iShares Flexible Monthly Income ETF XFLI $0.190
    iShares Flexible Monthly Income ETF(1) XFLI.U $0.140
    iShares Flexible Monthly Income ETF (CAD-Hedged) XFLX $0.184
    iShares S&P/TSX Capped Financials Index ETF XFN $0.169
    iShares Floating Rate Index ETF XFR $0.050
    iShares Core Canadian Government Bond Index ETF XGB $0.050
    iShares S&P/TSX Global Gold Index ETF XGD $0.143
    iShares Global Government Bond Index ETF (CAD-Hedged) XGGB $0.041
    iShares S&P Global Industrials Index ETF (CAD-Hedged) XGI $0.372
    iShares Core Growth ETF Portfolio XGRO $0.235
    iShares Cybersecurity and Tech Index ETF XHAK $0.011
    iShares Canadian HYBrid Corporate Bond Index ETF XHB $0.075
    iShares Global Healthcare Index ETF (CAD-Hedged) XHC $0.396
    iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) XHD $0.077
    iShares U.S. High Dividend Equity Index ETF XHU $0.074
    iShares U.S. High Yield Bond Index ETF (CAD-Hedged) XHY $0.084
    iShares Core S&P/TSX Capped Composite Index ETF XIC $0.292
    iShares India Index ETF XID $0.000
    iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIG $0.075
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIGS $0.106
    iShares MSCI EAFE® Index ETF (CAD-Hedged) XIN $0.523
    iShares Core Income Balanced ETF Portfolio XINC $0.165
    iShares S&P/TSX Capped Information Technology Index ETF XIT $0.000
    iShares Core Canadian Long Term Bond Index ETF XLB $0.062
    iShares S&P/TSX Capped Materials Index ETF XMA $0.072
    iShares S&P U.S. Mid-Cap Index ETF XMC $0.144
    iShares S&P U.S. Mid-Cap Index ETF(1) XMC.U $0.106
    iShares S&P/TSX Completion Index ETF XMD $0.159
    iShares S&P U.S. Mid-Cap Index ETF (CAD-Hedged) XMH $0.117
    iShares MSCI Min Vol EAFE Index ETF XMI $0.667
    iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) XML $0.472
    iShares MSCI Min Vol Emerging Markets Index ETF XMM $0.273
    iShares MSCI Min Vol USA Index ETF (CAD-Hedged) XMS $0.106
    iShares MSCI USA Momentum Factor Index ETF XMTM $0.054
    iShares MSCI Min Vol USA Index ETF XMU $0.238
    iShares MSCI Min Vol USA Index ETF(1) XMU.U $0.175
    iShares MSCI Min Vol Canada Index ETF XMV $0.317
    iShares MSCI Min Vol Global Index ETF XMW $0.416
    iShares MSCI Min Vol Global Index ETF (CAD-Hedged) XMY $0.255
    iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) XPF $0.065
    iShares High Quality Canadian Bond Index ETF XQB $0.054
    iShares MSCI USA Quality Factor Index ETF XQLT $0.060
    iShares NASDAQ 100 Index ETF (CAD-Hedged) XQQ $0.073
    iShares NASDAQ 100 Index ETF XQQU $0.090
    iShares NASDAQ 100 Index ETF(1) XQQU.U $0.066
    iShares S&P/TSX Capped REIT Index ETF XRE $0.062
    iShares ESG Aware Canadian Aggregate Bond Index ETF XSAB $0.048
    iShares Core Canadian Short Term Bond Index ETF XSB $0.071
    iShares Conservative Short Term Strategic Fixed Income ETF XSC $0.054
    iShares Conservative Strategic Fixed Income ETF XSE $0.046
    iShares ESG Aware MSCI EAFE Index ETF XSEA $0.473
    iShares ESG Aware MSCI Emerging Markets Index ETF XSEM $0.216
    iShares Core Canadian Short Term Corporate Bond Index ETF XSH $0.061
    iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF XSHG $0.120
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF XSHU $0.137
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF(1) XSHU.U $0.099
    iShares Short Term Strategic Fixed Income ETF XSI $0.056
    iShares Core Canadian Short-Mid Term Universe Bond Index ETF XSMB $0.101
    iShares S&P U.S. Small-Cap Index ETF XSMC $0.152
    iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged) XSMH $0.127
    iShares Core S&P 500 Index ETF (CAD-Hedged) XSP $0.300
    iShares S&P 500 3% Capped Index ETF (CAD-Hedged) XSPC $0.173
    iShares S&P/TSX Capped Consumer Staples Index ETF XST $0.119
    iShares ESG Aware Canadian Short Term Bond Index ETF XSTB $0.048
    iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) XSTH $0.103
    iShares 0-5 Year TIPS Bond Index ETF XSTP $0.121
    iShares 0-5 Year TIPS Bond Index ETF(1) XSTP.U $0.089
    iShares U.S. Small Cap Index ETF (CAD-Hedged) XSU $0.155
    iShares ESG Aware MSCI USA Index ETF XSUS $0.109
    iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) XTLH $0.113
    iShares 20+ Year U.S. Treasury Bond Index ETF XTLT $0.131
    iShares 20+ Year U.S. Treasury Bond Index ETF(1) XTLT.U $0.102
    iShares Diversified Monthly Income ETF XTR $0.040
    iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged) XUH $0.117
    iShares Core S&P 500 Index ETF XUS $0.243
    iShares Core S&P 500 Index ETF(1) XUS.U $0.178
    iShares S&P 500 3% Capped Index ETF XUSC $0.216
    iShares S&P 500 3% Capped Index ETF(1) XUSC.U $0.159
    iShares S&P U.S. Financials Index ETF XUSF $0.173
    iShares ESG Advanced MSCI USA Index ETF XUSR $0.175
    iShares S&P/TSX Capped Utilities Index ETF XUT $0.110
    iShares Core S&P U.S. Total Market Index ETF XUU $0.147
    iShares Core S&P U.S. Total Market Index ETF(1) XUU.U $0.108
    iShares MSCI USA Value Factor Index ETF XVLU $0.151
    iShares MSCI World Index ETF XWD $0.603

    (1) Distribution per unit amounts are in U.S. dollars for XAGG.U, XAW.U, XCBU.U, XDG.U, XDU.U, XEC.U, XEF.U. XFLI.U, XMC.U, XMU.U, XQQU.U, XSHU.U, XSTP.U, XTLT.U, XUS.U, XUSC.U, XUU.U

    Estimated June Cash Distributions for the iShares Premium Money Market ETF

    The June cash distributions per unit for the iShares Premium Money Market ETF are estimated to be as follows:

    Fund Name Fund Ticker Estimated Cash
    Distribution Per Unit
    iShares Premium Money Market ETF CMR $0.129

    BlackRock Canada expects to issue a press release on or about June 24, 2025, which will provide the final amounts for the iShares Premium Money Market ETF.

    Further information on the iShares Funds can be found at http://www.blackrock.com/ca.

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    Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

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    MSCI is a trademark of MSCI, Inc. (“MSCI”). The ETF is permitted to use the MSCI mark pursuant to a license agreement between MSCI and BlackRock Institutional Trust Company, N.A., relating to, among other things, the license granted to BlackRock Institutional Trust Company, N.A. to use the Index. BlackRock Institutional Trust Company, N.A. has sublicensed the use of this trademark to BlackRock. The ETF is not sponsored, endorsed, sold or promoted by MSCI and MSCI makes no representation, condition or warranty regarding the advisability of investing in the ETF.

    Contact for Media:
    Sydney Punchard                       
    Email: Sydney.Punchard@blackrock.com

    The MIL Network

  • MIL-OSI Submissions: Republic of Nauru becomes first Pacific country to launch digital asset regulator

    Source: Government of Nauru

    In a landmark move for the Pacific region, the Nauru Parliament yesterday passed legislation to establish a dedicated virtual asset regulatory authority.

    The Bill establishes the Command Ridge Virtual Asset Authority (CRVAA), named after the highest point of land in Nauru, as an autonomous regulator overseeing virtual assets, digital banking, and Web3 innovation.

    It will provide a licencing scheme that will allow virtual asset service providers (VASPs) to register and offer their services using Nauru as a base.

    Nauru President David Adeang said the regulation would pave the way for Nauru to be a digital asset leader in the region and is another step towards strengthening financial integrity, investing in future generations, and forging new pathways for resilience.

    He pointed out that Nauru is one of the Pacific’s most at-risk nations, acknowledged under the United Nations Multidimensional Vulnerability Index (MVI), for its heightened exposure to economic and environmental shocks, and that the Government needed to embrace innovation.

    “This bold step aims to harness the potential of virtual assets to diversify revenue streams and fortify economic resilience,” he said.

    “By implementing robust oversight of VASPs, Nauru aims to foster sustainable growth, channel new financial inflows into strategic instruments such as its Intergenerational Trust Fund, and reduce its reliance on climate financing, which is often challenging to secure.”

    The President said Nauru aspires to secure a more sustainable and self-reliant economic future.

    “We want to be a government of solutions and innovation, be proactive not passive, and positively approach the future with boldness,” he said.

    Minister for Commerce and Foreign Investment Maverick Eoe told Parliament that more countries are recognising the potential of virtual assets from blockchain technologies to decentralised finance.

    “This Bill proposes to introduce a framework that will put Nauru on par with other countries leading in the development of their digital economies and generating revenue from such developments,” he said.

    “The licensing framework….ensures Nauru becomes a competitor, attracting businesses that bring investment, job creation, and financial innovation,” he said.

    “By regulating VASPs, token issuance, and secure digital transactions, we can position Nauru as a hub for these types of innovation and development within this part of the world.

    He said the legislation is a commitment to the future prosperity of the country and a statement that Nauru does not fear the digital transformation, but embraces it and leads within the Pacific region.

    CRVAA will be tasked with ensuring cybersecurity standards, monitoring financial transactions and enforcing compliance with international anti-money laundering and financial transparency protocols.

    The Bill, which provides unmatched legal certainty for the token-issuer, introduces a groundbreaking token classification system that provides long-awaited clarity for the global crypto industry, stating that:

    Cryptocurrencies are presumed commodities, not securities;
    Utility and payment tokens are excluded from investment contract status;
    Governance and reward tokens are protected from misclassification

    The Nauru law defines the activities subject to CRA authorisation as follows:

    • Operation of centralised or decentralised virtual asset platforms
    • Exchange services between virtual assets and/or fiat currencies
    • Custodial and non-custodial virtual asset wallet services
    • Issuance of virtual tokens, including ICOs, STOs, and NFTs
    • Lending, staking, yield farming, and decentralised finance (DeFi) services
    • Stablecoin issuance and cross-border payment solutions
    • Operation of digital banks and digital payment platforms
    • Issuance and management of E-money.

    MIL OSI – Submitted News

  • MIL-OSI Africa: Hlabisa to lead discussions with business on review of White Paper on Local Government

    Source: South Africa News Agency

    Hlabisa to lead discussions with business on review of White Paper on Local Government

    The Minister of Cooperative Governance and Traditional Affairs (CoGTA), Velenkosini Hlabisa, will this week lead a roundtable discussion with the National Business Initiative (NBI) to review the 1998 White Paper on Local Government. 

    The CoGTA-NBI roundtable will be held on Friday, 20 June 2025, in Durban under the theme: “Every Municipality Must Work – A Call for Collective Action”.

    According to the department, the upcoming discussion with the NBI is part of the ongoing inclusive and participatory policy reform process to design a modern and fit-for-purpose local government system. 

    The NBI is an independent coalition of nearly 100 South African and multinational companies dedicated to creating a prosperous country and society. 

    Founded in 1995 by former President Nelson Mandela, the NBI is a voluntary alliance of businesses committed to this vision.

    “Through this engagement, everyone will have an opportunity to have their say and make an input into the type of local government they envisage,” the department said. 

    The discussions will focus on evaluating the legacy and shortcomings of the 1998 White Paper. 

    They will explore key policy priorities for a renewed local government framework and provide practical recommendations from both business and provincial perspectives. 

    In addition, the talks aim to strengthen partnerships to improve local governance and infrastructure delivery.

    Attendees will include business leaders and key economic institutions in KwaZulu-Natal, such as the KZN Provincial Economic Working Group (PeWG), Invest Durban, the KZN Growth Coalition, local Chambers of Commerce, and senior government officials.

    The CoGTA Deputy Minister, Dr Namane Dickson Masemola, is also expected to join the Minister.

    In April, Hlabisa officially published a discussion document on the Review of the 1998 White Paper on Local Government. 

    This document, published under Notice No. 6118 (Gazette: 52498), initiated a national discussion aimed at producing a revised White Paper on Local Government by March 2026.

    According to the department, the review launched last month aims to inspire fresh thinking, facilitate honest reflection, and promote decisive action toward establishing a local government system that effectively serves the people of South Africa.

    “The review is an open call to action for communities and stakeholders to collectively build a new and ideal system of local government characterised by responsiveness, efficiency, and accountability. The responsibility to ensure viable and sustainable municipalities is a shared national duty in advancing democracy,” the department said. 

    Adopted in 1998, the White Paper served as a foundational blueprint for building democratic local governance in South Africa.

    However, the department believes there is growing recognition that the current model is no longer adequate to meet the evolving developmental and service delivery needs of communities.

    It said the persistent governance, financial, structural, and administrative challenges have undermined the ability of municipalities to deliver effectively on their mandates. – SAnews.gov.za

    Gabisile

    MIL OSI Africa

  • MIL-OSI Banking: Lufthansa Group and Airbus collaborate for business travel with SAF

    Source: Lufthansa Group

    The Lufthansa Group has been working on sustainable transformation in aviation for many years and offers companies a wide range of customized options for more sustainable flying. Now, the Lufthansa Group is entering into an agreement with Airbus in the field of more sustainable business travel. Since June 1, the “Sustainable Corporate Value Fare“ has been used by Airbus for all Lufthansa flights taken by its employees within Germany. This Lufthansa Group business fare enables offsetting of parts of the calculated CO2 emissions through the subsequent use of Sustainable Aviation Fuel in future flight operations.

     

    Dieter Vranckx, Chief Commercial Officer Lufthansa Group, says: 
    “Together with our customers and strong partners from the industry, we strive towards greater sustainability. I am particularly pleased and thankful that our long-standing partner Airbus has opted for a corporate fare with SAF, demonstrating its leading role also in the field of sustainability. For many companies and its employees, sustainability is becoming an increasingly important factor in travel decisions. As a leading airline group, we are the partner of choice for companies in achieving their goals with tailor-made solutions.”

     

    Raphael Duflos, Vice President Corporate Services Procurement at Airbus declares:

    “We have been working in close cooperation with Lufthansa Group since early 2024 to customize their ‘Sustainable Corporate Value Fare’ to meet the specific needs of Airbus travelers. They have helped us to create a meaningful offer incorporating Sustainable Aviation Fuels, starting in the German domestic market. We are confident that such ‘Sustainable Corporate Value Fare’ is going to be successful across the Business Travel ecosystem.”

     

    Customized options for more sustainable flying with SAF

    The Lufthansa Group offers several special fares for corporate customers: With the “Sustainable Corporate Value Fare”, business customers can offset up to 30 percent of the CO₂ emissions calculated for their individual flight through the use of SAF in flight operations. The Lufthansa Group also offers companies the opportunity to invest in larger quantities of SAF through SAF bulk deals.

     

    Background: The use of SAF in the Lufthansa Group 

    There is no refueling of individual flights with pure SAF. As a so-called “drop-in” fuel, SAF is compatible with fossil kerosene and can be blended with it without any problems. Before being transported to the airport, SAF is blended with fossil jet fuel or produced in a process known as co-processing (joint processing of biogenic residues with fossil oil) and then fed into the airport infrastructure. The Lufthansa Group ensures that the amount of SAF required to offset individual CO2 emissions is fed into the Lufthansa Group’s flight operations within six months of purchase. Over its entire life cycle, the SAF from biogenic residues used by the Lufthansa Group has a CO2 footprint that is around 80 percent lower than that of conventional kerosene made from fossil crude oil.

    MIL OSI Global Banks

  • MIL-OSI Africa: Mashatile arrives in Moscow to boost SA-Russia trade relations

    Source: South Africa News Agency

    Deputy President Paul Mashatile has arrived in Moscow for a working visit aimed at strengthening economic and trade ties between South Africa and Russia. 

    The Deputy President was received at the airport by the Deputy Head of State Protocol, Andrei Milyaev, the Deputy Director of the African Department, Andrei Stolyarov, and South Africa’s Deputy Minister of International Relations and Cooperation, Alvin Botes. 

    According to the Deputy President’s Office, the visit will focus on enhancing economic cooperation between the two countries in sectors such as agriculture, automotive, energy, and mining industries, as well as cooperation in science and technology. 

    “It will take place in two cities, namely Moscow and St. Petersburg, for high-level engagements as well as economic diplomacy activities,“ the Deputy President’s Office said in a statement. 

    In Moscow, Mashatile will meet with the Prime Minister of Russia, Mikhail Mishutin, and lay a wreath at the memorial site dedicated to South Africa’s liberation stalwarts, John Beaver (JB) Marks and Moses Kotane. 

    Following this, he will participate in the 28th St. Petersburg International Economic Forum (SPIEF2025). This year’s forum will be held from 19 – 21 June under the theme: “Shared Values: The Foundation of Growth in a Multipolar World”.

    The Deputy President will participate in the plenary session of SPIEF2025 and has also received an invitation to speak at the Russia-Africa Business Dialogue.

    In addition, he is scheduled to deliver a public lecture at St. Petersburg State University on the topic: “South Africa’s G20 Presidency in a Rapidly Changing Geopolitical Environment”.

    He will also address attendees at the opening of the South African Trade and Investment Seminar.

    The St. Petersburg leg of the visit aims to enhance South Africa’s trade relationships and establish the country as a prime investment destination.

    According to the Deputy President’s Office, this trip is Mashatile’s first visit to Russia since he took office under the seventh administration. 

    He is accompanied by a delegation of Ministers and Deputy Ministers, who are part of the Economic Sectors, Investment, Employment and Infrastructure Development Cabinet Cluster. 

    This includes the Science, Technology and Innovation Minister, Dr Blade Nzimande; Water and Sanitation Minister Pemmy Majodina; Trade, Industry and Competition Minister Parks Tau; Agriculture Deputy Minister Nokuzola Capa; Public Works and Infrastructure Deputy Minister Sihle Zikalala; Mineral and Petroleum Resources Deputy Minister, Phumzile Mgcina, and Sport, Arts and Culture Deputy Minister,  Peace Mabe. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI China: Beyond blind boxes: What’s behind Labubu’s global craze?

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

    A resident takes photos of a Labubu toy at the Taipa exhibition area of “POP MART MACAO CITYWALK” in south China’s Macao, June 6, 2025. [Photo/Xinhua]

    In the pre-dawn chill outside a New York mall, young fans camped overnight, eager to get their hands on a Labubu doll. In Paris, shoppers carrying Labubu shopping bags posed for photos in front of the Louvre. In Seoul’s Myeongdong shopping area, long queues formed not for K-pop stars, but for Labubu. Its theme song echoed in Spanish streets.

    At the center of this global craze is a small, sharp-eared figure with jagged teeth and an ambiguous expression — Labubu, a curious creation from China that is capturing the imagination of global youth.

    The frenzy surrounding Labubu has sparked long queues, thriving secondary markets, and rental services, with some transactions standing out due to their scale. A one-of-a-kind mint-green, human-sized Labubu sold for 1.08 million yuan (about 150,531 U.S. dollars) at a Beijing auction last week, setting a new record for the blind box toy as it transitions from pop craze to coveted collectible.

    From “world factory” to “global creative center”

    This nine-toothed, punk-cute creature from Pop Mart is more than just a toy. It has become a cultural and commercial force. In 2024, Pop Mart’s “The Monsters” series swept through global markets, generating over 3 billion yuan in revenue, a 726.6 percent increase from the previous year and the company’s most successful IP to date.

    It is rare for a comic or toy IP to break the culture wall and be embraced by both Asian cultures as well as mainstream Western pop stars and sports stars, according to Jessie Xu, an analyst at Deutsche Bank, which significantly raised its target price for Pop Mart shares on the strength of Labubu’s performance.

    Labubu’s rise marks more than a viral toy trend: it signals a broader shift in China’s role on the global stage. No longer just a manufacturing hub, China is emerging as a source of original cultural exports. “Labubu’s success marks China’s transition from ‘world factory’ to ‘global creative center’,” noted a recent commentary on the website of China’s Qiushi Journal, the flagship magazine of the Communist Party of China Central Committee, reflecting on the nation’s economic evolution beyond low-cost production.

    What makes this spiky-toothed imp resonate from Seoul to Spain? Designed by Hong Kong artist Kasing Lung, Labubu defies the traditional traits that are associated with being cute. With large ears and a fixed grin featuring nine pointy teeth, its oddball charm resonates with a young generation that sees itself in its mischievous, soft-hearted persona.

    “Labubu’s image aligns closely with the way today’s consumers express themselves,” said Yu Yiqi, an associate researcher at Fudan University, adding that its blend of mild rebellion — defiant yet harmless — has made this unconventional IP more recognizable, accepted, and embraced by consumers.

    Pop Mart amplified Labubu’s appeal on a global scale. In Thailand, the furry doll was granted the title of “Amazing Thailand Experience Explorer” by tourism authority. In Singapore, a Merlion-themed edition sold out almost instantly. What began as a toy has evolved into a kind of cultural conduit, quietly connecting young people across borders.

    Toys themed on Labubu, a popular furry doll from Chinese toy company Pop Mart, are pictured during the opening ceremoy of a new offline store of Pop Mart in Bangkok, Thailand, July 5, 2024. [Photo/Xinhua]

    The long game of patience, precision 

    Labubu’s explosion wasn’t overnight.

    “In 2010, Beijing got its first Pop Mart store. I was 23,” 38-year-old Pop Mart’s CEO Wang Ning recalled. Early days were fraught. With little recognition, the startup struggled to secure collaborations with established IPs.

    Yet it developed a simple method to spot potential hits. At art fairs, artist booths with the longest lines were seen as a clear sign of consumer interest. By gathering strong creative talent early on, the little-known company quickly made a name for itself.

    As the youngest self-made founder on Forbes’ 2024 list of Best CEOs in China, Wang’s age has led many to view Pop Mart as a young company. In reality, it has been quietly building its presence in the designer toy space for 15 years. Since launching its international expansion in 2018, Pop Mart has steadily advanced its global strategy, with operations now spanning nearly 100 countries and regions.

    Labubu’s success would not have been possible without meticulous iteration. Pop Mart and Lung spent a considerable amount of time refining Labubu, from the initial “Forest Concert” series to the recently released “Big into Energy” series, gradually shaping its “punk-cute” identity into a distinct cultural symbol.

    The toymaker is not alone in embracing the long game. The animated blockbuster Ne Zha 2 took five and a half years to complete, with more than 4,000 people involved and nearly 2,000 visual effects shots. The hit video game Black Myth: Wukong was developed for over six years, with its creators pouring vast artistic resources into delivering high-end visuals and performance for players.

    Precision matters. Wang fixated on the smallest details, from store layouts designed to guide browsing flow, to display case placement intended to catch the eye, and maintenance schedules aimed at enhancing the customer experience. “Innovation is the fundamental guarantee for enterprises to withstand storms and achieve sustainable development,” the Qiushi website commentary noted, underscoring the relentless focus behind Labubu’s success.

    Made in China, designed for the world 

    Labubu’s rise to becoming a globally coveted product is rooted in China’s vast manufacturing ecosystem. “As a global manufacturing powerhouse, China has a complete industrial chain and a mature industrial environment, offering significant comparative advantages,” Wang said.

    More than 70 percent of Pop Mart’s production comes from factories in Dongguan, south China’s Guangdong Province, the heart of China’s toy manufacturing industry. The city is home to some 4,000 toy companies and 1,500 supporting suppliers. It is responsible for producing a quarter of the world’s animation merchandise and 85 percent of China’s designer toys.

    When Labubu introduced an innovative blend of vinyl and plush materials, factories in Dongguan delivered with remarkable precision. They even created separate molds for each individual component. “If you can make Pop Mart, you can make any designer toy in the world,” a manufacturing partner said.

    As a leading arts hub in Asia and a regular host of Art Basel, Hong Kong provided the artistic foundation. It was here that Wang discovered talented illustrators like Lung. This model of collaboration between art and manufacturing has propelled China’s designer toy industry from contract production to value creation.

    Customers purchase products at a POP MART store in London, Britain, on May 21, 2025. The trendy toys recently launched by Chinese pop culture brand POP MART have drawn fans worldwide, which stands as a prime example of a new wave of innovative Chinese products, revolutionizing global perspectives on “Made in China” within the toy industry. [Photo/Xinhua]

    China’s pro-consumption policies have provided strong tailwinds for the designer toy industry. A national action plan released in March calls for cultivating “trendy domestic goods,” while the Ministry of Commerce has been promoting “IP plus consumption” by developing creative retail spaces and cultural landmarks. The country’s designer toy market, valued at roughly 60 billion yuan in 2023, is projected to reach 110.1 billion yuan by 2026, with annual growth rate exceeding 20 percent.

    Greater openness is also fueling the cultural exchange crucial to IP growth. China has expanded its unilateral visa-free access program, allowing travelers from 47 countries to stay for up to 30 days. This has drawn a growing number of international visitors seeking firsthand experiences of Chinese culture. The immersive contact not only deepens global understanding of China’s lifestyle, but also fosters an environment where homegrown IPs like Labubu can flourish and succeed on the international stage.

    Yet, white-hot demand breeds challenges. Frenzied queues in London reportedly led to scuffles, forcing Pop Mart to briefly suspend UK Labubu sales. Similar safety concerns prompted a temporary halt in the Republic of Korea.

    Pop Mart has publicly distanced itself from speculative frenzy in the second-hand market, reiterating that the company has never — and will never — participate in any form of resale activities involving collectible toys. It also urged consumers to approach purchases with rational expectations.

    Though often attributed to psychological triggers like unpredictable rewards and fear of missing out, the fascination with blind boxes, according to Wang, stems from something deeper.

    “What really matters is the designer toy, the IP, and the story behind blind boxes,” he said, noting that Pop Mart is in the business of trendy designer toys, not just surprise packaging. “It’s not the blind box that hooks people — it’s the characters inside, which represent some of China’s most attractive consumer IPs.”

    “Not every IP will become a hit,” said Yu. “What matters is that Pop Mart takes a systematic approach to selecting, managing, and supporting IPs, grounded in its role as a trendsetter. Trends rise and fall, but a company needs a steady pipeline to consistently deliver value and meet consumer demand.”

    From scouting more than 350 artists worldwide to growing 13 IPs with each’s annual revenue exceeding 100 million yuan, Pop Mart has a clear goal: to keep its IPs alive and constantly evolving. Once aspiring to be “Disney of China,” the company is now working to become “Pop Mart of the world.”

    “Labubu isn’t Pop Mart’s first red-hot IP,” Yu said. “Nor will it be the last.”

    MIL OSI China News

  • MIL-OSI Africa: Hilton to Triple its Presence in Africa to More Than 160 Hotels

    • Hilton expects to open more than 100 hotels in the coming years in markets including Ghana, Benin, Nigeria, Angola and Madagascar
    • Most recent hotel openings include Canopy by Hilton Cape Town Longkloof, Hampton by Hilton Sandton Grayston and DoubleTree by Hilton Addis Ababa Airport
    • Hilton to make its Ghana debut later this year with the opening of Hilton Accra Cantonments
    • Hilton is currently hiring for 600 new hospitality jobs in Africa and expects to create 18,000 new positions as it expands its portfolio.

    Coinciding with Future Hospitality Summit Africa 2025, Hilton (NYSE: HLT) today announced plans to almost triple its presence in Africa to more than 160 hotels trading in the coming years. Across its portfolio of market-leading brands, Hilton expects to open more than 100 hotels on the continent, supporting Africa’s burgeoning hospitality sector and creating approximately 18,000 jobs for local people.

    Carlos Khneisser, chief development officer, Middle East & Africa, Hilton, said, “We are thrilled to announce several new hotel agreements which significantly expand our footprint in Africa, a continent brimming with potential and opportunity. Our development strategy underscores our commitment to supporting Africa’s hospitality sector as we partner with owners to grow our footprint, deliver exceptional stays for our customers and create jobs for local people. Africa offers incredible opportunity, from thriving business hubs to vibrant cultures, wildlife, and natural landscapes. We are excited to unveil a host of new destinations building on Hilton’s legacy of hospitality across Africa for over 65 years.”  

    Hilton Debuts in Angola

    Hilton has made its Angolan debut with the signing of three properties – two in the capital city of Luanda under its flagship Hilton Hotels & Resorts brand and affordable and upscale Hilton Garden Inn brand, as well as one in Cabinda with a property under its award-winning DoubleTree by Hilton brand.

    Hilton Luanda Hotel Godinho

    Hilton has signed Hilton Luanda Hotel Godinho in partnership with Servicab S.A. The hotel is expected to open in 2027 and will feature 220 guest rooms and suites. Stretched along an 11,250-square-metre beachfront with unobstructed views of the ocean, the property will feature multiple dining options and over 1,000 square metres of event space.

    Hilton Garden Inn Luanda Airport

    Hilton has signed Hilton Garden Inn Luanda Airport in partnership with Crestigo. Set to open in 2028, Hilton Garden Inn Luanda Airport will feature 200 guest rooms, an all-day dining restaurant and terrace, flexible meeting rooms, a fitness centre, a pool, and a rooftop bar. The hotel’s proximity to Antonio Agostinho Neto International Airport and corporate business hubs makes it an ideal choice for business travellers.

    DoubleTree by Hilton Cabinda Futila Residences

    Hilton has also signed an agreement with Prodoil S.A. to debut its DoubleTree by Hilton brand in Angola. The property is expected to open in 2026 and will provide 290 contemporary apartments, including studio rooms, two and three-bedroom suites, as well as 10 three-bedroom oceanfront villas. It will also feature a restaurant, a swimming pool, and a natural lake.

    Additional Hilton Market Debuts

    Hilton Cotonou

    In Benin, Hilton has signed an agreement to open Hilton Cotonou in partnership with the Republic of Benin, through the Société de Développement Hôtelier du Bénin (SDHB). This landmark project marks Hilton’s official entry into the Beninese market.

    Scheduled to open in 2028, Hilton Cotonou will be strategically located on the Boulevard de la Marina, next to the Congress Palace, key government offices, and several international embassies. The hotel will feature 233 contemporary guest rooms and suites, an all-day dining restaurant, a signature destination bar and terrace, a pool bar, a spa, an outdoor pool, and flexible meeting spaces designed for both business and social events.

    The project is expected to generate several hundred direct and indirect jobs across hospitality and related sectors. It will also enhance Benin’s capacity to host international conferences and events, reinforcing the country’s ambition to become an African hub for business and high-end tourism.

    Hilton & Hilton Garden Inn Antananarivo 

    Hilton has signed agreements to open two properties in Madagascar, marking Hilton’s re-entry into the country. Located in the heart of Madagascar’s capital and expected to open in 2028, Hilton Antananarivo will feature 170 guest rooms, multiple dining options, a ballroom, six meeting rooms, a fitness centre, spa and outdoor pool. Further South, Hilton Garden Inn Antananarivo will be part of a mixed-use development with retail and office spaces, making it ideal for business and leisure travellers. Set to open in 2027, the 120-guest room hotel will offer a restaurant, bar, flexible meeting rooms, a fitness centre, and an outdoor pool.

    Hilton’s Nigeria Expansion

    The Wave Hotel Abuja Jabi, Curio Collection by Hilton

    Located in Jabi, one of the capital’s most popular districts, The Wave Hotel Abuja Jabi, Curio Collection by Hilton, will feature 93 stylishly appointed guest rooms, upscale dining venues, an outdoor pool, and a wellness centre. Developed in partnership with The Wave Hotel Limited (OpCo), the hotel is set to open in 2026 and benefits from being a short 10-minute drive from Abuja’s Commercial Business District. Each hotel in Curio Collection is hand-picked to immerse guests in one-of-a-kind moments in the world’s most sought-after destinations, evoking a bespoke story through distinctive architecture and design, world-class food and beverage, and curated experiences. 

    Hilton Lagos Ikeja

    Hilton has signed Hilton Lagos Ikeja in partnership with Cornfield Group. Located in Ikeja’s government and residential hub, the hotel is strategically situated near corporate and governmental offices and in proximity to the Murtala Muhammed International Airport. Slated to open in 2029, the hotel will feature 200 modern guest rooms and suites – and offers elevated dining options such as an all-day dining restaurant, a signature restaurant, a lobby bar, a pool bar & grill, and a destination bar. The hotel will also include a spacious ballroom, four meeting rooms, and a fully equipped fitness centre.

    Hilton Garden Inn in Kano

    Marking Kano’s first internationally branded hotel, Hilton Garden Inn in Kano is being developed in partnership with Akhim Plus Limited. The hotel will offer 100 guest rooms, flexible meeting rooms, an outdoor pool, and a fitness centre. Expected to open in 2029, the hotel’s location near key sites including the Government House, Emir’s Palace, National Museum, Kano Race Course, Kano Golf Club, and Meena Event Centre makes it an ideal choice for business and leisure travellers alike.

    West Africa and East Africa

    Hampton by Hilton Accra Airport

    Hilton has signed Hampton by Hilton Accra Airport with Amani International Hospitality Limited – bringing Hampton by Hilton’s award-winning hospitality to Ghana’s Kotoka International Airport. Opening in 2026, Hampton by Hilton Accra Airport will include 170 guest rooms, a fully equipped fitness centre, an outdoor pool, and meeting spaces. The hotel will also offer a dynamic open-concept social space and a round-the-clock snacks shop. It will be a part of Airport Area Accra, a mixed-use development featuring malls and corporate offices.

    In Ethiopia, Hilton recently announced agreements with Brighton Hotels and Business Plc. to open two properties – DoubleTree by Hilton Adama and DoubleTree by Hilton Dire Dawa (http://apo-opa.co/4lbtHv2) – marking the first internationally branded hotels in the cities. Opening in 2028, these hotels further reaffirm Hilton’s commitment to expanding its presence in Ethiopia, with plans to reach eight trading properties across the country in the coming years.

    Hilton has also announced its Tanzanian re-entry with the signing of Canopy by Hilton Zanzibar The Burj (http://apo-opa.co/3ST8aeB), in partnership with CPS Live Limited. Expected to open in 2027, the lifestyle hotel will feature 162 inviting and sophisticated guest rooms and suites, elevated dining spaces, and a wide array of facilities. Located in the heart of Fumba Town and part of a mixed-use development, ‘BURJ Zanzibar,’ the property will offer unique experiences tailored to guests seeking authentic local experiences.

    North Africa

    Hilton continues to grow across North Africa, with plans to triple its portfolio in Egypt (http://apo-opa.co/4l58VNw) to more than 40 trading hotels across the country in the coming years. In Morocco, Hilton is set to more than double its portfolio (http://apo-opa.co/3G2a75u), with plans to bolster its luxury presence and introduce new brands. Hilton also recently signed a new DoubleTree by Hilton property in Fes, an ancient city whose medina is a UNESCO World Heritage Site.

    DoubleTree by Hilton Fes Golf

    In partnership with Le Clos de l’Atlas, Hilton is set to open DoubleTree by Hilton Fes Golf in 2028. The 109-guest room property will be located next to a golf course and will offer easy access to Fes’s many cultural attractions. The hotel will also be in close proximity to Fes’s industrial quarter and an upcoming convention centre, making it ideal for business travellers as well.

    Recent & Upcoming Openings

    In South Africa, Hilton recently opened Canopy by Hilton Cape Town Longkloof (http://apo-opa.co/4l4zrXe) in partnership with Growthpoint Properties, marking the lifestyle brand’s debut in South Africa. Located in the vibrant Longkloof precinct, the hotel features 154 spacious and modern guest rooms. Each hotel room reflects the country’s cultural richness through bold local art and design and colourful prints throughout its interiors. Ideally situated in Cape Town’s City Bowl, the property offers easy access to Table Mountain, Camps Bay, and the V&A Waterfront. Guests can also enjoy the hotel’s signature restaurant, Ongetem, led by renowned chef Bertus Basson, celebrating South African culinary heritage with bold, contemporary flair.

    Hilton also recently opened DoubleTree by Hilton Addis Ababa Airport (http://apo-opa.co/44lFtgD) in Ethiopia. Located just minutes from Bole Addis Ababa International Airport, the property offers a complimentary airport shuttle, a rooftop restaurant, and proximity to the various events at Millenium Hall. Last year, Hilton opened the first Hampton by Hilton in Africa in South Africa with Hampton by Hilton Sandton Grayston (http://apo-opa.co/4lfuafR), bringing the brand’s friendly and authentic service to Johannesburg’s financial and shopping district.

    Later this year, Hilton expects to open its first hotel in Ghana with Hilton Accra Cantonments in partnership with High Street Development Company. Located in Cantonments, an upscale suburb which is home to multiple embassies and high commissions, the hotel will feature 145 guest rooms and a range of dining options including an all-day dining restaurant, a lobby lounge and pool bar. The hotel will offer a gym, spa, and outdoor swimming pool, as well as more than 900 square metres of event space including a ballroom, seven meeting rooms and an executive boardroom.

    Hilton currently operates 63 hotels in Africa, with more than 100 under development. All hotels will be part of Hilton Honors, Hilton’s award-winning loyalty programme with over 218 million members globally. 

    Distributed by APO Group on behalf of The Bench.

    Contact:
    Maya Chacko
    Hilton
    maya.chacko@hilton.com

    Connect with Hilton on: 
    Facebook: http://apo-opa.co/4lhOgGl
    X: http://apo-opa.co/40b5fSe
    LinkedIn: http://apo-opa.co/4lbh2Ij
    Instagram: http://apo-opa.co/40bQpeh  
    YouTube: http://apo-opa.co/3Ti1Uxf

    About Hilton:
    Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio (http://apo-opa.co/3G4U0nJ) of 24 world-class brands comprising more than 8,600 properties and nearly 1.3 million rooms, in 139 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 3 billion guests in its more than 100-year history, was named the No. 1 World’s Best Workplace by Great Place to Work and Fortune and has been recognized as a global leader on the Dow Jones Sustainability Indices. Hilton has introduced industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 218 million Hilton Honors (http://apo-opa.co/3Ti1Q0t) members who book directly with Hilton can earn Points for hotel stays and experiences money can’t buy. With the free Hilton Honors app (http://apo-opa.co/4lf8yjz), guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit http://stories.Hilton.com for more information.

    MIL OSI Africa

  • Piyush Goyal visits UK to boost economic ties, fast-track India–UK FTA implementation

    Source: Government of India

    Source: Government of India (4)

    Union Minister of Commerce and Industry Piyush Goyal is on a two-day official visit to the United Kingdom from June 18 to 19, aimed at strengthening India–UK economic relations and expediting the implementation of the bilateral Free Trade Agreement (FTA).

    The visit follows the announcement of the successful conclusion of the India–UK FTA by Prime Minister Narendra Modi and UK Prime Minister Keir Starmer on May 6.

    “Goyal’s visit aims to accelerate bilateral engagements, harness emerging opportunities, and lay a robust foundation for a forward-looking, resilient, and mutually beneficial economic relationship,” the Commerce Ministry said in a statement.

    During the visit, Goyal will hold key meetings with UK Secretary of State for Business and Trade Jonathan Reynolds to review ongoing FTA negotiations and outline a time-bound roadmap for its conclusion. He will also meet UK Chancellor of the Exchequer Rachel Reeves to discuss financial cooperation and investment promotion.

    Additionally, the Minister will engage with UK Secretary of State for Culture, Media and Sport Lisa Nandy to explore partnerships in creative and innovation-driven sectors.

    Goyal is scheduled to participate in several high-level sessions at the India Global Forum (IGF), including a roundtable titled ‘From Agreement to Action: UK–India FTA’, which will bring together global business leaders and investors to discuss the strategic direction of bilateral trade ties.

    As part of his business outreach, Goyal will interact with top CEOs and industry leaders from key sectors such as fintech, logistics, shipping, and advanced manufacturing to promote cross-border investment and collaboration.

    The visit reinforces India’s strategic focus on transforming its trade relationship with the UK into a robust, inclusive, and sustainable economic partnership.

  • Piyush Goyal visits UK to boost economic ties, fast-track India–UK FTA implementation

    Source: Government of India

    Source: Government of India (4)

    Union Minister of Commerce and Industry Piyush Goyal is on a two-day official visit to the United Kingdom from June 18 to 19, aimed at strengthening India–UK economic relations and expediting the implementation of the bilateral Free Trade Agreement (FTA).

    The visit follows the announcement of the successful conclusion of the India–UK FTA by Prime Minister Narendra Modi and UK Prime Minister Keir Starmer on May 6.

    “Goyal’s visit aims to accelerate bilateral engagements, harness emerging opportunities, and lay a robust foundation for a forward-looking, resilient, and mutually beneficial economic relationship,” the Commerce Ministry said in a statement.

    During the visit, Goyal will hold key meetings with UK Secretary of State for Business and Trade Jonathan Reynolds to review ongoing FTA negotiations and outline a time-bound roadmap for its conclusion. He will also meet UK Chancellor of the Exchequer Rachel Reeves to discuss financial cooperation and investment promotion.

    Additionally, the Minister will engage with UK Secretary of State for Culture, Media and Sport Lisa Nandy to explore partnerships in creative and innovation-driven sectors.

    Goyal is scheduled to participate in several high-level sessions at the India Global Forum (IGF), including a roundtable titled ‘From Agreement to Action: UK–India FTA’, which will bring together global business leaders and investors to discuss the strategic direction of bilateral trade ties.

    As part of his business outreach, Goyal will interact with top CEOs and industry leaders from key sectors such as fintech, logistics, shipping, and advanced manufacturing to promote cross-border investment and collaboration.

    The visit reinforces India’s strategic focus on transforming its trade relationship with the UK into a robust, inclusive, and sustainable economic partnership.

  • MIL-OSI Asia-Pac: LCQ7: Measures to combat telephone fraud

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Duncan Chiu and a written reply by the Acting Secretary for Commerce and Economic Development, Dr Bernard Chan, in the Legislative Council today (June 18):

    Question:

         In recent years, the HKSAR Government has adopted diversified measures to actively combat telephone fraud, including introducing the Real-name Registration Programme for Subscriber Identification Module (SIM) Cards (RNR Programme) and the Hong Kong Police Force’s “Scameter+” and requiring local telecommunications service providers (TSPs) to play a voice alert message for calls made from newly activated pre-paid SIM (PPS) cards and block suspicious calls, as well as strengthening co-operation with Mainland and international law enforcement agencies. However, there are views pointing out that local telephone fraud cases have not shown a decreasing trend, causing inconvenience and disturbance to the public in their daily lives. In this connection, will the Government inform this Council:

    (1) of the number of telephone fraud cases received by the Police from January to May this year, as well as the amount of money involved in such cases, the number of victims and their age distribution;

    (2) of the total number of PPS cards which have been rejected as the clients failed to provide information in compliance with the registration requirements since the introduction of the RNR Programme; the total number of the registration records of non-compliant PPS cards which have been cancelled by the TSPs, together with a breakdown and percentage by reason for non-compliance;

    (3) whether it has estimated the number of registered PPS cards resold in the market under the RNR Programme; of the authorities’ countermeasures currently in place against the resale practice concerned, and how they follow up cases of members of the public purchasing and using PPS cards that have long been registered by other persons;

    (4) as the 2024 Policy Address has mentioned that the Government would introduce a legislative amendment proposal into this Council to prohibit the resale of registered SIM cards with a view to further enhancing the RNR Programme, of the latest progress of such work and the legislative timetable;

    (5) of the accumulated downloads of “Scameter+” since its launch by the Police in February 2023 and the respective numbers of call alerts issued to users and local and non-local suspicious telephone numbers which the TSPs have been required to block; of the details and outcome of the Police’s follow-up actions in respect of such suspicious and blocked telephone numbers; and

    (6) whether it has comprehensively reviewed the effectiveness of the various measures introduced by the Government to combat telephone fraud; if so, of the results, and the measures in place to cope with the situation where the number of telephone fraud cases has not decreased, including whether it will adjust the existing overall strategy for combating telephone fraud, as well as introduce relevant enhancement measures and new measures?

    Reply:

    President,

         The Office of the Communications Authority (OFCA) has been devising and implementing a series of preventive measures from the perspective of telecommunications services to assist the Hong Kong Police Force (Police) in combating phone deception at the source. In response to the question raised by the Hon Duncan Chiu, having consulted the Security Bureau, OFCA and the Police, our consolidated reply is as follows:

         The Real-name Registration Programme for SIM Cards (RNR Programme) has been fully implemented since February 2023, requiring that all SIM cards issued and used locally (including SIM service plans and pre-paid SIM cards (PPS cards)) must complete real-name registration before service activation. Under the RNR Programme, OFCA has requested telecommunications service providers (TSPs) to conduct regular sampling checks on registered SIM card information, to step up verification of suspicious cases, and to refer cases suspected of violating the law to the Police for handling. If the users subject to sample checks are unable to verify their registered information in accordance with the instructions of the respective TSPs, the relevant PPS cards will be deregistered and cannot be used thereafter. As at end-April this year, around 4.71 million PPS cards were rejected for registration as the clients failed to provide information in compliance with the registration requirements (including cases where registration was done using a copy of an identity document and the information provided was inconsistent with the identity document, etc). Besides, the registration records of about 3.4 million non-compliant PPS cards have been deregistered (including cases where users failed to verify their identities as required during the TSPs’ sampling checks and were suspected of using forged documents for registration, etc). According to the information provided by the TSPs, the majority of deregistration was due to users failing to submit required identity documents for verification as required. OFCA does not maintain information on specific reasons for deregistration by breakdown.

         To enhance the effective implementation of the RNR Programme, OFCA has required the TSPs to adopt “iAM Smart” as the default registration method for Hong Kong identity card (HKID) holders. For non-HKID holders, their real-name registration information will be manually verified. Currently, provision of false information and/or false documents under the RNR Programme may constitute a criminal offence. OFCA does not maintain information on the resale of registered PPS cards in the market.

         In addition, the Police launched the mobile application “Scameter+” in February 2023 to help members of the public distinguish suspicious online platform accounts, payment accounts, phone numbers, email addresses, websites, etc, and to provide the public with anti-fraud tips. As at end-April this year, “Scameter+” had recorded over 960 000 downloads, 8.4 million searches in its search engine and 1 million alerts issued to members of the public. “Scameter+” has now been upgraded and is equipped with automatic detection functions. The Call Alert function and the Website Detection function within the mobile application will automatically identify scam calls and fraudulent websites. If potential fraud or cyber security risk is detected, “Scameter+” will issue a real-time notification, reminding users not to answer the call or browse the website. As at end-April this year, “Scameter+” had issued over 800 000 warnings about suspicious calls and websites to the public through its automatic function. Under OFCA’s co-ordination, the Police and major TSPs have established a mechanism where the TSPs will, based on the fraud records provided by the Police, block the telephone numbers suspected to be involved in deception cases and intercept suspicious website links as soon as possible. As at end-April this year, more than 50 000 website links and about 9 000 local and non-local phone numbers have been successfully blocked. The Police will also actively investigate cases related to these suspected scam phone numbers.

         Apart from the above-mentioned measures, OFCA has also required the TSPs to intercept suspicious calls starting with “+852”, send voice alerts or text messages to all mobile users for overseas calls prefixed with “+852”, and play voice alerts for newly activated PPS cards, as well as has launched the SMS Sender Registration Scheme to assist members of public in distinguishing the identity of the SMS senders. OFCA has also been conducting continuous market surveillance and strengthening publicity activities, as well as has launched the District Anti-Phone Deception Ambassador Scheme in January this year, appointing over 300 District Council members and staff members of their ward offices as District Anti-Phone Deception Ambassadors. Starting from May this year, OFCA has collaborated with District Anti-Phone Deception Ambassadors through community activities to further promote anti-scam messages.

         For telephone deception trends, the Police recorded a total of 1 816 telephone deception cases between January and April this year, averaging 454 cases per month and representing a significant 52.3 per cent decrease compared to the monthly average of 951 cases in the fourth quarter of 2024. The financial losses associated amounted to approximately HK$320 million, involving a total of 1 759 victims aged between 15 and 97. For telephone deception cases involving impersonation of customer service emerged since early last year, after focused enforcement efforts by the Police, the monthly average for the first four months this year dropped to approximately 190 cases, recording a decrease of over 80 per cent from the peak of about 1 110 cases in July 2024. These trends highlight the effectiveness of measures implemented by the Government in combating phone deception.

         The Government will continue to adopt a multi-pronged approach to combat phone deception and protect the interests of the public. Regarding anti-phone deception measures and the RNR Programme, with reference to the overall implementation experience and the Police’s provision of scam trends on criminal groups using PPS cards, the Government is reviewing the implementation effectiveness of relevant measures and overall operation of the RNR Programme, including reviewing the limit on the number of PPS cards, the arrangement for prohibiting the sale of registered SIM cards or using information of others to conduct real-name registration for profit making, etc. The Government aims to consult relevant Legislative Council Panel within this year.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Astana Declaration of the Second Central Asia-China Summit

    Translation. Region: Russian Federal

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

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

    ASTANA, June 18 (Xinhua) — The second China-Central Asia Summit was held in Astana, the capital of Kazakhstan, on June 17, 2025. Below is the full text of the Astana Declaration of the Second Central Asia-China Summit.

    Astana Declaration of the Second Central Asia-China Summit

    On June 17, 2025, the second Central Asia-China summit was held in Astana with the participation of the President of the Republic of Kazakhstan K.K. Tokayev, the Chairman of the People’s Republic of China Xi Jinping, the President of the Kyrgyz Republic S.N. Japarov, the President of the Republic of Tajikistan E.Rahmon, the President of Turkmenistan S.G. Berdimuhamedov and the President of the Republic of Uzbekistan Sh.M. Mirziyoyev.

    The heads of state of the Central Asia-China format, recognizing the strategic importance of the region and recognizing the importance of further deepening multilateral cooperation based on equality, mutual respect and mutual benefit, declare their commitment to further strengthening friendly relations, deepening political trust and expanding economic cooperation between the countries of Central Asia and China.

    In a friendly atmosphere, the parties summed up the results of comprehensive cooperation between the Central Asian states and China, summarized the experience of multifaceted mutually beneficial cooperation, outlined guidelines for further cooperation and stated the following.

    1. The Parties highly appreciate the results of the first Summit of Heads of State of the Central Asia-China format (May 19, 2023, Xi’an), the meeting of foreign ministers of the Central Asia-China format (December 1, 2024, Chengdu and April 26, 2025, Almaty), and also actively support the development of priority areas of cooperation at the level of heads of relevant ministries, departments and various forms of interaction.

    The Parties agree that the development of fruitful multifaceted cooperation between the Central Asian states and China meets the fundamental interests of all countries and their peoples. Against the backdrop of changes unprecedented in a century, the Parties, based on favorable prospects for the peoples of the region, confirm their desire to jointly create a closer community of common destiny for Central Asia and China.

    Based on a comprehensive review of the experience of cooperation between Central Asia and China, the Parties noted the formation of the “Central Asia-China spirit”, characterized by mutual respect, mutual trust, mutual benefit, mutual assistance and the promotion of joint modernization through high-quality development. It is important to fully develop this spirit, which is intended to serve as a basis for the development of friendship and mutually beneficial cooperation between the states of the Format.

    2. The Parties reaffirm their support for the protection of each other’s fundamental interests in the spirit of mutual understanding and respect.

    China firmly supports the development path of the Central Asian states, their efforts to safeguard their national independence, sovereignty and territorial integrity, as well as their independent foreign and domestic policies. The Central Asian states reaffirm their commitment to the one-China principle and recognize that there is only one China in the world, Taiwan is an inalienable part of Chinese territory, and the PRC government is the sole legitimate government representing the whole of China. The Central Asian states oppose “Taiwan independence” in any form and firmly support the Chinese government’s efforts to reunify the country.

    The parties reaffirmed their determination to strengthen centuries-old good-neighborliness, lasting friendship and reliable partnership, and noted the high relevance of signing a multilateral Treaty on Eternal Good-Neighborliness, Friendship and Cooperation, which will contribute to the long-term, healthy and sustainable development of relations between China and the Central Asian states.

    The Parties reaffirm their commitment to the purposes and principles of the UN Charter, including respect for the state independence, equality, sovereignty and territorial integrity of states.

    The Parties express their firm determination to uphold multilateralism, the generally recognized principles and norms of international law and international relations, promote an equal and orderly multipolar world and accessible and inclusive economic globalization, and jointly defend international justice and equality.

    The parties will make efforts to further develop fruitful, multifaceted interaction within the framework of strengthening cooperation in various areas of the “Central Asia – China” format.

    3. The heads of state of the participating countries of the Secretariat of the Central Asia-China format note the important role of the Secretariat of the Central Asia-China format in implementing the initiatives and tasks set by the heads of state, and also expressed their readiness to fully support the work of the Secretariat and provide it with favorable conditions and guarantees for development.

    The Heads of State of the participating States of the Secretariat of the Central Asia-China format, on the basis of consensus, welcome the assumption of office of Secretary-General Sun Weidong from 1 May 2025.

    4. The Parties confirm their commitment to strengthening the central role of the UN in ensuring international peace, security and sustainable development, disseminating universal human values – peace, development, justice, equality, democracy and freedom, and oppose attempts to politicize human rights issues. In this regard, they agreed to co-author the UN General Assembly resolution “On world unity for a just peace, harmony and development.”

    The parties confirm their commitment to strengthening political dialogue and cooperation within the UN and other international organizations, exchanging views and coordinating positions on current regional and international issues.

    The Parties welcome the proclamation of 2025 as the “International Year of Peace and Trust” in accordance with UN General Assembly Resolution No. 78/266 of 21 March 2024 and the holding of the “International Forum for Peace and Trust” in 2025 in Ashgabat.

    The parties welcomed the UN General Assembly Resolution declaring Central Asia a “Zone of Peace, Trust and Cooperation,” adopted at the initiative of Turkmenistan.

    The parties also welcome the adoption by the UN General Assembly of the Resolution “Permanent Neutrality of Turkmenistan”, dedicated to the 30th anniversary of the status of permanent neutrality of Turkmenistan.

    The Parties note the importance of developing a Global Security Strategy based on UN principles and generally recognized principles and norms of international law, taking into account current realities and trends in global inequality.

    The Parties reaffirm their strong commitment to the principles and objectives of international humanitarian law and highly appreciate the efforts of Kazakhstan and China as co-initiators of the Global Initiative to Strengthen Political Commitment to International Humanitarian Law. The Parties take note of the Global Initiative aimed at strengthening the principles of humanity and creating conditions conducive to achieving peace and breaking the endless cycle of violence in armed conflicts.

    The parties participating in the SCO support China’s chairmanship of the SCO in 2024-2025 and are ready to provide all possible assistance in the successful holding of the SCO Summit in Tianjin.

    5. The parties highly value the “One Belt, One Road” initiative and will continue to increase work to align this initiative with their national development strategies for the Central Asian states.

    6. The Parties shall make efforts to strengthen the multilateral trading system based on WTO rules, support the adaptation of international trade rules to the changing world, and promote the liberalization and simplification of trade and investment procedures.

    The Parties reaffirm the importance of intensifying the WTO discussion on development issues and emphasize the need to support open, inclusive, sustainable, resilient, diversified and secure global supply chains.

    WTO member states also support the aspirations of Turkmenistan and Uzbekistan to join the WTO.

    The interested parties intend to develop cooperation in six priority areas, including unimpeded trade, industry, investment, infrastructure connectivity, green subsoil use and agricultural modernization, and simplification of mutual travel for citizens.

    The parties note the significant potential for trade and economic cooperation between the countries of the Format, express their readiness to use the role of the meeting of ministers of economy and trade “Central Asia – China”, promote high-quality development of trade, promote diversification of trade structure and simplification of trade procedures, update agreements on the promotion and mutual protection of investments between the countries of Central Asia and China, reveal the potential of the working group on unimpeded trade, the Roundtable on Digital Trade and the mechanism “Dialogue on Cooperation in the Field of Electronic Commerce”, as well as intensify interaction in new industries.

    The parties intend to strengthen investment and industrial cooperation in the field of “green” minerals, alternative energy sources and infrastructure projects, as well as in ensuring the stable and uninterrupted operation of the production chain in the region. The parties expressed interest in strengthening exchanges and cooperation in housing and communal construction, increasing the interconnectivity of digital and green infrastructure, and jointly developing cooperation in the field of infrastructure and engineering construction.

    The parties will continue their efforts to increase the contribution of the Central Asian states and China to ensuring international energy and food security, to develop international transport and logistics routes, and to prevent disruptions in the supply of key products.

    The parties intend to expand the possibilities of transport corridors and cargo containerization in every possible way to simplify transportation as much as possible, strengthen cooperation in the framework of container train movement along the China-Europe route through Central Asia, develop transit and logistics potential, and promote joint projects that serve the interests of the states in the region.

    The parties welcome the start of the implementation of the China-Kyrgyzstan-Uzbekistan railway project, which is of great importance for the Central Asian region and China.

    The Parties are interested in the active use of the Turkmenbashi International Sea Port and the Aktau International Sea Trade Port by large transport and logistics companies of the Parties when transporting goods.

    The parties, with the active participation of multimodal operators and based on geographical location, are developing a logistics mechanism for the railway, automobile and maritime industries in order to develop regular container transportation to expand the export of goods from Central Asian countries and further to world markets.

    The parties welcomed the holding of the Third UN Conference on Landlocked Developing Countries (LLDC 3) in Turkmenistan in 2025.

    The Parties support raising the level of favourable conditions for international road transport by digitalising permits for international road transport and jointly increasing the exchange of experience and cooperation in the field of sustainable transport.

    The parties noted the importance of the established Central Asia-China Business Council and expressed their readiness to support trade promotion agencies, chambers of commerce and interested organizations in strengthening cooperation in the areas of trade and investment in order to make a greater contribution to the development of trade and economic cooperation between the Central Asian states and China.

    The parties noted the important role of the Central Asia-China Industrial and Investment Cooperation Forum in promoting investment cooperation between the Central Asian states and China, expanding industrial cooperation, and ensuring the stability and efficiency of production and supply chains.

    The parties highly appreciate the mechanism of the meeting of heads of customs services within the framework of the “Central Asia-China” format, are ready to expand the exchange of experience and mutual cooperation in the implementation of the “Smart Customs, Smart Borders and Smart Communications” project, effectively promote practical cooperation in the field of interconnection of relevant services within the framework of the work of checkpoints, “single window”, risk management, simplification of customs procedures, mutual assistance in customs matters.

    7. The Parties believe that building and expanding scientific and technological partnerships and continuously deepening scientific and technological cooperation based on complementary advantages and mutual benefits are of great importance.

    The parties are ready to further intensify the dialogue on scientific and technological development, regularly exchange information on national strategies, priority areas and programs for scientific and technological development, share development experience, and support the holding of the China (XUAR)-Central Asia Cooperation Forum on Scientific and Technological Innovation.

    The parties will actively support exchanges between research institutes and employees, the establishment of a network of partner institutes for the implementation of joint and exemplary projects on the application of technologies, and the creation of platforms for interaction on this basis.

    The Parties support efforts to transfer technology and implement scientific and technological achievements in order to promote economic and social development through scientific and technological innovation.

    The parties shall strengthen cooperation in the field of science and technology, including the exchange of best practices.

    China welcomes the participation of the Parties in the Group of Friends of International Cooperation on AI Capacity Building. The Parties are willing to jointly promote the implementation of the UN General Assembly Resolution on Strengthening International Cooperation on AI Capacity Building.

    The parties noted the importance of the draft UN General Assembly Resolution “The Role of Artificial Intelligence in Creating New Opportunities for Socioeconomic Development and Acceleration of the Achievement of the SDGs in Central Asia,” initiated by Tajikistan.

    8. The Parties express their readiness to utilize the potential of cooperation in the field of agriculture, including promoting investment in agriculture, industry interaction and cooperation in the field of trade in agricultural products. The Chinese side welcomes the active promotion of agricultural products of Central Asian countries, including through such important exhibitions as the China International Import Expo in Shanghai.

    The parties will intensify efforts in the development of “smart” agriculture, exchange of experience in the implementation of water-saving, green and other highly efficient technologies, as well as best practices in this area.

    The parties agreed to intensify the exchange of technologies and specialists in the field of melioration of arid, saline and alkaline soils, water-saving irrigation, pest control, livestock farming and veterinary medicine, and to strengthen the stress resistance of the agricultural sector with the aim of its sustainable development.

    The Parties reaffirm the need for concerted efforts to ensure food security in the context of a changing climate, and also note the importance of farming in the most environmentally friendly ways that support biodiversity and make efficient use of land resources.

    The parties welcomed the UN General Assembly Resolution “Central Asia Facing Environmental Challenges: Strengthening Regional Solidarity for Sustainable Development and Prosperity”, adopted at the initiative of the Republic of Uzbekistan, which confirms that climate change is one of the most complex problems of our time and creates serious difficulties on the path to sustainable development of all countries.

    The parties also welcomed the UN General Assembly Resolutions “Promoting sustainable forest management, including afforestation and reforestation, on degraded lands, including in drylands, as an effective solution to environmental problems” and “The United Nations Decade of Afforestation and Reforestation in accordance with the Principles of Sustainable Forest Management (2027-2036)”, adopted at the initiative of the Republic of Uzbekistan.

    The parties note the importance of consolidating efforts to improve policies in the area of poverty reduction, increasing employment and incomes of the population and creating jobs. The parties expressed their readiness to intensify cooperation in this area by implementing effective social support programs for the population, exchanging specialists and modern methodologies.

    9. The parties support the establishment of a Central Asia-China partnership on energy development, strengthening cooperation along the entire industrial chain, further expanding cooperation in traditional energy sources, including oil, natural gas and coal, strengthening cooperation in hydropower, solar, wind, hydrogen and other environmentally friendly energy sources, deepening cooperation in the peaceful use of nuclear energy, implementing projects using green technologies and clean energy sources, and implementing the concept of innovative, coordinated, green, open and common development.

    The Parties highlight cooperation in the energy sector as an important component of sustainable development of the region. The Parties express their readiness to continue deepening energy cooperation for the purpose of joint high-quality development of the energy industry of all countries in the spirit of mutually beneficial cooperation and taking into account the interests of the Parties.

    10. The interested parties support further expansion of cooperation between China and the Central Asian states along the entire industrial chain of development and use of mineral resources. The Parties will explore the possibility, within the framework of the current legislation of the Parties, of conducting joint work on geological research, exploration of mineral resources and the development of green subsoil use.

    11. The Parties confirm their readiness to hold joint events in such areas as culture, cultural heritage and tourism. The Parties also intend to expand youth exchange mechanisms, develop cooperation in conducting joint archaeological expeditions, research into the history and heritage of the Great Silk Road, preserving and restoring cultural heritage, museum exchanges, and searching for and returning missing and stolen cultural valuables.

    The parties highly appreciated the successful holding of the International High-Level Conference on Glacier Conservation, as well as the documents adopted following the results of this conference (Dushanbe, May 29-31, 2025).

    The parties also welcomed the decision of the UNESCO General Conference to hold its 43rd session in Samarkand in 2025. This event will be an important step in advancing UNESCO’s global agenda and promoting international dialogue in the field of cultural, educational and scientific cooperation.

    The Parties will support the holding of youth festivals, forums and sports competitions, including the organization of the World Nomad Games in 2026, initiated by the Kyrgyz Republic, as a unique event that promotes traditional sports and cultural diversity.

    Interested parties will continue their efforts to mutually establish cultural centers.

    The parties support the joint practice of declaring cultural and tourist capitals in the “Central Asia-China” format.

    The parties highly appreciate the successful holding of the first meeting of education ministers in the “Central Asia – China” format.

    The parties support cooperation between higher education institutions and businesses, the integration of production and education, and the acceleration of the implementation of international cooperation projects in vocational training, including within the framework of the Lu Ban Workshop.

    The Parties support joint scientific research by higher education institutions in such areas as energy, agriculture, medicine and healthcare, and artificial intelligence. The Parties support the establishment of Confucius Institutes and the teaching of the Chinese language in Central Asian countries.

    The parties highly appreciate the establishment by China of the Central Asia-China Poverty Alleviation Cooperation Center, the Central Asia-China Education Exchange and Cooperation Center, the Central Asia-China Desertification Cooperation Center, and the Central Asia-China Unimpeded Trade Cooperation Platform.

    The parties noted the initiative of the Republic of Kazakhstan to create a Global Coalition on Primary Health Care, the purpose of which is to support the fundamental reorientation of health systems towards primary health care throughout the world.

    12. The Parties reaffirmed their commitment to the UN Framework Convention on Climate Change and the Paris Agreement, which are the main platform and legal basis for the international community to make joint efforts to combat climate change, and emphasized the need to comply with the goals, principles and institutional framework enshrined in the Framework Convention and the Paris Agreement, in particular the principle of common but differentiated responsibilities, and to promote the full and effective implementation of the provisions of the Framework Convention and the Paris Agreement with an emphasis on the formation of a fair, rational, cooperative and generally beneficial global climate governance system.

    The parties expressed their readiness to hold dialogues within the framework of the “Central Asia – China” format to study the issue of developing and implementing measures to preserve biological diversity and adapt to climate change.

    The parties noted the importance of implementing the Resolution adopted at the 77th session of the UN General Assembly “Sustainable Mountain Development”, which declared 2023-2027 the “Five Years of Action for Mountain Development”, in order to strengthen international cooperation on the mountain agenda and its further effective implementation.

    The parties welcomed the initiatives of the Kyrgyz side aimed at promoting the issues of the mountain agenda and climate change, as well as the holding of the “High-Level Dialogue: Advancing the Mountain Agenda and Mainstreaming the Theme of Mountains and Climate Change” on the sidelines of COP-29 on November 13, 2024 in Baku, and expressed their readiness to explore the possibility of joining the “Declaration on Climate Change, Mountains and Glaciers” initiated by the Kyrgyz side, presented during the said Dialogue.

    The parties took into account the proposal of the Tajik side to create transboundary specially protected natural areas, transboundary corridors and buffer zones for the conservation of individual species of fauna, the restoration and maintenance of populations of rare endangered and migratory species of animals, as well as the exchange of relevant experience and technologies.

    The parties welcomed the accession of Uzbekistan and Kazakhstan to the Mountain Partnership Negotiating Group, representing the interests of mountain countries on the basis of the UNFCCC.

    The Parties welcome the successful holding of the International Conference “Global Mountain Dialogue for Sustainable Development” in Bishkek on 24-25 April 2025, and also support the holding of the World Mountain Youth Festival (August 2025) and the Second Global Mountain Summit “Bishkek 25” (2027) in the Kyrgyz Republic.

    The parties welcome the initiative to open a regional climate technology center for Central Asia under the auspices of the UN in Ashgabat as a platform for the transfer of technologies for adaptation to climate change and mitigation of its consequences.

    The parties noted the significance of the results of the First Climate Forum, held in Samarkand on April 4-5, 2025, as an important step towards deepening regional dialogue and coordinating approaches to the climate agenda.

    The Parties welcome the successful holding of the Central Asian Climate Change Conference 2025 in Ashgabat in May 2025 on the theme “Achieving the global goal on climate finance through regional and national actions in Central Asia”.

    The parties support the holding of the Regional Climate Summit in Kazakhstan in 2026 under the auspices of the UN, which will give new impetus to climate action in Central Asia and consolidate the climate efforts of the countries of the region.

    In this regard, the Parties call for exploring ways of cooperation within the framework of the Project Office for Central Asia on Climate Change and Green Energy, whose work is aimed at accelerating the climate transition in Central Asia through support for policies, innovation and partnership.

    13. The Parties believe that stability, development and prosperity in Central Asia meet the common interests of the peoples not only of the six countries, but of the entire world community.

    While strongly condemning terrorism, separatism and extremism in all their forms and manifestations, the Parties expressed their readiness to work together to combat the “three forces of evil”, in particular the cross-border movement of terrorist groups, illegal drug trafficking, transnational organized crime and cybercrime, to ensure the stable and successful progress of cooperation projects and to jointly counteract security threats.

    The parties consider the platform for dialogue on security within the framework of the Dushanbe process on combating terrorism, as well as the initiative put forward by Tajikistan “Decade of Strengthening Peace for Future Generations”, to be important.

    The parties will take joint measures to strengthen cooperation in the field of environmental protection, prevention of large-scale disasters and crises, joint response to the epidemiological situation, as well as in other relevant areas of security.

    The parties confirmed the importance of UN General Assembly Resolution 72/283 of 22 June 2018 on strengthening regional and international cooperation to ensure peace, stability and sustainable development in Central Asia, adopted at the initiative of Uzbekistan.

    The parties welcomed the UN General Assembly Resolution “Readiness of Central Asian countries to act as a united front and cooperate to effectively address and eliminate drug-related problems,” adopted at the initiative of Uzbekistan.

    The parties noted the need to strengthen cybersecurity in the region against the backdrop of the rapid development of information technology and artificial intelligence. The parties intend to use the infrastructure of IT parks in Central Asian countries to implement innovations, launch startups, conduct joint projects and exchange experiences.

    The parties expressed their readiness to regularly exchange information, as well as to apply best practices and advanced experience aimed at ensuring the stable functioning of the information infrastructure in the region.

    The parties are ready, together with the international community, to continue to provide assistance to the people of Afghanistan in maintaining peace and stability, restoring social infrastructure, and integrating into the regional and global economic system.

    The Parties support and advocate the development of Afghanistan as a peaceful, stable, prosperous country free from terrorism and drugs.

    The Parties reaffirm their commitment to actively participate in the Doha process under the auspices of the UN and welcome the efforts in this area undertaken by UNAMA and the UN Office on Drugs and Crime.

    The parties welcomed the inclusion of the regional humanitarian logistics centre in Termez, Republic of Uzbekistan, into the UNHCR global network of warehouses for emergency humanitarian response, which will strengthen the ability of the international community to quickly deliver essential supplies to internally displaced persons around the world.

    The Parties highly appreciate the efforts of Kazakhstan to institutionalize the initiative to establish in Almaty the UN Regional Centre for Sustainable Development Goals for Central Asia and Afghanistan with the aim of accelerating the achievement of the SDGs in the region and addressing development challenges in Afghanistan, and also welcome the efforts of the Government of Tajikistan to provide its logistical capabilities for the delivery of international humanitarian aid to the people of Afghanistan.

    The Parties welcomed Turkmenistan’s efforts to create appropriate conditions for the transportation of goods to/from Afghanistan, as well as humanitarian aid through its territory. In this regard, the Parties highly appreciated the commissioning of the Serhetabat-Turgundi and Kerki-Imamnazar railway links, as well as the start of work on the construction of a warehouse complex in the dry port of the Turgundi railway station.

    The Parties note the need for joint efforts in combating the illegal trafficking of drugs and their precursors, the problem of the spread of new psychoactive substances, including through the use of new technologies and means for these purposes, and consideration of the possibility of developing a Joint Anti-Drug Action Plan with the participation of the United Nations Office on Drugs and Crime.

    14. The Parties are ready to actively cooperate within the framework of the Global Development Initiative, the Global Security Initiative, the Global Civilization Initiative, and, through joint efforts, accelerate the implementation of the UN Agenda for Sustainable Development, ensure peace and security in the region and throughout the world, and promote the exchange and mutual enrichment of civilizations.

    The Parties express their readiness to jointly hold relevant events based on the Resolution of the International Day of Dialogue among Civilizations adopted by the UN General Assembly, and to jointly promote the exchange and mutual enrichment of civilizations.

    The Parties support the development of a peaceful, open, secure, cooperative and orderly cyberspace within the framework of the Global Data Security Initiative, emphasize the importance of jointly promoting the Central Asia-China Digital Data Security Cooperation Initiative, deepening practical cooperation in the field of ensuring international information security, jointly combating cybercrime and cyberterrorism, emphasize the key role of the UN in countering threats in the information space, in particular relevant rules in the field of data security, support the development within the UN of universal rules of responsible behavior of states in the information space, call on the international community to sign as soon as possible the UN Comprehensive Convention on Countering the Use of Information and Communication Technologies for Criminal Purposes, approved by UN General Assembly Resolution 79/243 of December 24, 2024.

    The Parties emphasize the significant role of the Treaty on a Nuclear-Weapon-Free Zone in Central Asia in strengthening the global nuclear non-proliferation regime. In this regard, the Parties note the need for further development of cooperation between countries within the framework of the Treaty, as well as the establishment of interaction with other regional nuclear-weapon-free zones in the world.

    The parties note the importance of expanding cooperation in the field of biological safety.

    The parties noted Kazakhstan’s efforts to establish the UNESCAP Digital Solutions Centre for Sustainable Development in the Asia-Pacific region.

    15. The Parties declare that, starting from the Second Central Asia-China Summit, they will hold thematic years every two years, with 2025-2026 being declared the “Years of High-Quality Development of Central Asia-China Cooperation”.

    16. The parties express their gratitude to the Kazakh side for the high level of organization of the second Central Asia-China summit.

    The parties decided to hold the third Central Asia-China summit in 2027 in China.

    President of the Republic of Kazakhstan K. Tokayev

    Chairman of the People’s Republic of China Xi Jinping

    President of the Kyrgyz Republic S. Japarov

    President of the Republic of Tajikistan E.Rahmon

    President of Turkmenistan S. Berdimuhamedov

    President of the Republic of Uzbekistan Sh. Mirziyoyev

    Astana, June 17, 2025

    MIL OSI Russia News

  • MIL-OSI: Agentic AI integration set to accelerate this year among Gen AI early adopters

    Source: GlobeNewswire (MIL-OSI)

    Press contact: 
    Antara Nandy
    Tel.: +91 9674515119  
    Email: antara.nandy@capgemini.com

    Agentic AI integration set to accelerate this year among Gen AI early adopters

    • Two in five organizations expect to achieve positive return on their AI investments in 1-3 years
    • By embedding a targeted set of AI capabilities into core business processes such as procurement, customer service, supply chain optimization, and finance operations, organizations are already achieving significant cost efficiencies

    Paris, June 18, 2025 – A Capgemini Research Institute report published today, AI in action: How Gen AI and agentic AI redefine business operations,’ finds that AI is now driving positive returns on investment (ROI), with the average being nearly a 1.7 times return. The report highlights that this has now laid the groundwork for widespread agentic AI implementation. Among those early adopter organizations that have implemented generative AI (Gen AI), around 30% have already integrated AI agents into their business operations. Agentic AI projects are expected to rise by 48% by the end of 2025. The research also finds that one in five organizations already use AI agents or multi-agent systems, with Gen AI and agentic AI already delivering significant cost savings and operational efficiencies in business functions.

    With businesses planning investments in AI infrastructure, some organizations had expressed concerns about achieving ROI from their large-scale AI and Gen AI rollouts. However, the report finds that these initial concerns are fading fast, as enterprises are now seeing substantial returns, with those surveyed achieving a 1.7 times ROI from their Gen AI and AI investments. As a result, enterprises are increasing their Gen AI investments, with 62% of those surveyed growing their investment in Gen AI this year as compared to last year.

    “Gen AI and agentic AI can truly transform business services – enabling the shift from traditional cost-focused models towards an AI-enabled, value and insight driven business. Those that adopt an integrated approach with data and AI at its core will be set to achieve a truly connected, frictionless enterprise,” said Oliver Pfeil, CEO of Business Services at Capgemini and Member of the Group Executive Committee. “While the research suggests increased adoption of AI agents, organizations still face numerous barriers to implementation at scale. Adopting a pragmatic approach, fostering trust in AI, and creating a strong data foundation will go a long way in transforming business services into a strategic powerhouse to fuel any enterprise.”

    Gen AI adoption has laid the groundwork for agentic AI implementation
    Gen AI is expected to drive improvements in key metrics such as insight accuracy, productivity, time to market, and customer and employee experience over the next three years. As a result, more businesses are seeing the value of Gen AI, with 36% of organizations already implementing it, up from 20% last year. Among those that have adopted Gen AI at a limited or full scale, around 30% have integrated AI agents into their operations.
    The total number of AI agent projects in an average organization are expected to grow 48% in 2025.

    According to the report, AI agents are already delivering significant benefits across business functions, with agents and multi-agent systems reducing errors, improving customer satisfaction levels, increasing operational efficiency, and reducing operational costs. The top five industries adopting AI agents are high tech, industrial manufacturing, consumer products, energy & utilities, and pharma & healthcare.

    Strong leadership and workforce transformation are key to faster returns
    To achieve strong ROI on Gen AI investments, organizations should focus on developing strong leadership, governance, and AI readiness. According to the report, organizations who establish this foundation achieve ROI 45% faster. However, most enterprises currently lack this strong leadership, with only one in three leaders being a strong advocate of Gen AI.

    In addition, organizations must also transform their workforce to derive business value cites the report. In the past two years, enterprises that introduced automation and AI-based use cases have been able to automate 30% of operational tasks, and expect to automate further in the next two years. As responsibilities evolve, organizational upskilling, reskilling, training and job role transitions will feature highly, with almost two-thirds of employees expecting to see their job descriptions altered by 2028. According to the report, employee interaction with AI agents is expected to increase by 2028, so training and upskilling will be needed to prepare workforces for effective human-AI collaboration.

    Report Methodology
    The Capgemini Research Institute conducted a survey of 1,607 executives from organizations with at least $1 billion in global revenue in the last financial year, who are responsible and accountable for one or more AI and gen AI initiatives in business operations. Executives were from supply chain & procurement, finance & accounting, people operations, customer operations, AI leadership and strategy, AI application development and maintenance, AI ethics, regulations, and compliance functions. The executives were from 15 countries across multiple regions and spanning 13 industries. The Institute also interviewed 15 senior executives leading business operations and AI implementation at their respective organizations from across sectors and countries.

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

    Get The Future You Want | www.capgemini.com

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

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

    Attachments

    The MIL Network

  • MIL-OSI: Inside information: Morten Thorsrud to succeed Torbjörn Magnusson as CEO of Sampo Group

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, inside information, 18 June 2025 at 9:20 am EEST

    Inside information: Morten Thorsrud to succeed Torbjörn Magnusson as CEO of Sampo Group

    Torbjörn Magnusson, the CEO of Sampo Group, has informed the Sampo Board of his intention to retire from his role. Morten Thorsrud, the CEO of Sampo’s largest operating entity, If P&C, has today been appointed as his successor. The change in Group CEO will become effective on 1 October 2025, after which Magnusson will stay within the group as a Senior Advisor until 31 December 2025.

    “I want to thank Torbjörn for his extraordinary contribution to the success of Sampo, both in leading the recent strategic transformation as Group CEO and in laying the foundations of our outstanding success in the Nordic P&C insurance market. He leaves the group in excellent condition and with a compelling set of opportunities.

    The appointment of If’s CEO Morten Thorsrud as Group CEO represents continuity and reflects our commitment to operational excellence. Morten, who has been within the group for 23 years, has taken If’s performance to new heights as CEO. I am delighted to have been able to appoint Torbjörn’s successor from a strong set of high-quality internal candidates”, says Antti Mäkinen, Chair of the Board of Sampo plc.

    With the strategic transformation of Sampo complete and the business in excellent shape, I have come to the conclusion that it is time for me to hand over to the next generation of leadership. Together with my colleagues, we have achieved more than I could have ever imagined when I joined the group in 1999. Morten has played a crucial role in the success of If P&C and I am confident he will excel as Group CEO of Sampo”, says Torbjörn Magnusson, CEO of Sampo Group.

    “I am honored to be given the opportunity to lead Sampo. As CEO of If, I have continued our efforts on being the most caring and customer centric P&C insurer and on delivering operational excellence through extensive investments in our digital capabilities. I intend to bring the same energy to my work as CEO of Sampo Group”, says Morten Thorsrud, Appointed CEO of Sampo Group and CEO of If P&C

    Further information about remuneration related matters can be found on www.sampo.com.

    SAMPO PLC

    For more information, please contact

    Sami Taipalus
    Head of Investor Relations
    tel. +358 10 516 0030

    Ainomaija Forsell
    Media Relations
    tel. +358 10 514 4217

    Appendix:
    Curriculum Vitae of Morten Thorsrud

    Distribution:

    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    FIN-FSA
    The principal media
    www.sampo.com

    Appendix: Curriculum Vitae

    Morten Thorsrud
    Born 1971

    Education

    Norwegian School of Management
    – Master of Business and Economics 1996

    Career

    If P&C Insurance Holding Ltd
    – President and CEO 2019-

    Sampo plc
    – Member of the Sampo Group Executive Committee 2006-

    If P&C Insurance Ltd (publ)
    – Group Executive Vice President, Head of BA Private 2013-2019
    – Head of BA Industrial 2005-2013
    – Head of Industrial Underwriting and Claims 2004-2005
    – Head of Corporate Strategy 2002-2004

    McKinsey & Company, Inc. Norway/Europe
    – Associate Partner 2001-2002
    – Engagement Manager 1999-2001
    – Associate 1997-1999
    – Junior Associate 1996-1997

    Positions of trust

    Topdanmark
    – Topdanmark Forsikring A/S: Deputy Chairman 2024–
    – Topdanmark A/S: Board Member 2019-

    Hastings Group
    – Board Member 2020-

    Euronext
    – Member of the Supervisory Board 2019-

    Finance Norway (Finans Norge)
    – Member of the Executive Committee, 2019-
    – Other roles, 2013-2019

    The MIL Network

  • MIL-OSI: An authorization to register an amendment of the article of association of Urbo bankas UAB has been received

    Source: GlobeNewswire (MIL-OSI)

    Urbo bankas UAB (hereinafter – “the Bank”), company code 112027077, address: Konstitucijos pr.18B, Vilnius.

    The Bank informs that the Financial Market Supervisory Committee of the Bank of Lithuania, by its decision of 17 June 2025, allowed the Bank to register the amendments of the Bank’s articles of association, related with the increase of the authorized capital to EUR 50,988,758.50, as approved by the ordinary general meeting of shareholders held on 21 March 2025.

    For more information please contact: Julius Ivaška, Head of Business Division, tel. +370 601 04 453, e-mail media@urbo.lt

    The MIL Network

  • MIL-OSI: Business aviation leader Luxaviation and Haffner Energy join forces to accelerate SAF production and promotion

    Source: GlobeNewswire (MIL-OSI)

    Business aviation leader Luxaviation and Haffner Energy join forces to accelerate SAF production and promotion

    Luxaviation signals interest in active role in SAF-dedicated entity SAF Zero

    Vitry-le-François, France / Luxembourg (June 18, 2025, 8:00 am CEST) – 

    SAF Zero, a Haffner Energy initiative, is gaining momentum: Luxaviation Group, a leading global operator in the business aviation sector, is exploring an active role in the new entity, both companies announced today at the International Paris Air Show. Luxaviation potential involvement could take the form of cash funding to finance initial development activities, support in the strategic definition and global visibility as well as offtake agreements in relevant SAF Zero projects such as Paris-Vatry SAF. 
    SAF Zero is dedicated to fast-tracking the production of sustainable aviation fuel (SAF) by establishing an investment and project development platform that brings key stakeholders together. Combining Haffner Energy’s proprietary technologies and Luxaviation’s experience and strategic positioning in the aviation sector, SAF Zero is to finance and develop industrial SAF production projects. Operating under an exclusive license, SAF Zero will supply Haffner Energy’s technologies to third parties under license agreements, designing, delivering and potentially operating key equipment based on these technologies. 
    “We are thrilled to collaborate with Luxaviation, a powerful partner working alongside us to position SAF Zero as a cornerstone of Europe’s clean aviation strategy ,” said Philippe Haffner, co-founder and CEO of Haffner Energy.
    France-based Haffner Energy relies on its 32-year experience to design, manufacture, supply, license, and operate proprietary disruptive clean fuels solutions, including critical technologies for pathway-agnostic SAF production, using all types of residual biomass and municipal waste. The company has already announced the development of a number of SAF projects, notably Paris-Vatry SAF in France, where full scale production is expected to be reached by 2030 when the next stage of the European SAF mandate kicks in.  
    As a founding partner of SAF Zero, Haffner Energy will provide engineering support and supply of critical equipment as needed for the projects developed by SAF Zero.
    “At Luxaviation, we believe that the future of aviation must be sustainable, and that requires bold partnerships and innovative solutions. Our collaboration with Haffner Energy and our interest in SAF Zero reflect our commitment to accelerating the adoption of sustainable aviation fuel and driving meaningful change across the industry. By combining our operational expertise with Haffner Energy’s cutting-edge technology, we are taking a decisive step toward a cleaner, more responsible future for aviation,” said Patrick Hansen, CEO of Luxaviation Group. 
    Luxaviation operates one of the largest fleets of private aircraft worldwide. It is actively committed to the decarbonization of aviation through a three-pronged strategy: improving fuel efficiency; reducing emissions by actively increasing SAF use and electrification of ground operations; buying offsets for remaining GHG emissions. Since 2021, Luxaviation’s annual sustainability report tracks progress against targets. In 2023, Luxaviation launched “Go-to-Zero” Investment Fund to foster SAF production. 
    Both Luxaviation and Haffner Energy are members of Project SkyPower, an international CEO-led initiative dedicated to accelerating the development and adoption of SAF. 

    About Haffner Energy
    Haffner Energy designs, manufactures, supplies, and operates biofuel and hydrogen solutions using biomass residues. Its innovative, patented thermolysis technology produces Sustainable Aviation Fuel, as well as renewable gas, hydrogen, and methanol. The company also contributes to regenerating the planet through the co-production of biogenic CO2 and biochar. A company co-founded 32 years ago by Marc and Philippe Haffner, Haffner Energy has been working from the outset to decarbonize industry and all forms of mobility, as well as governments and local communities. More information is available at www.haffner-energy.com.

    About Luxaviation Group
    Headquartered in Luxembourg, Luxaviation Group comprises top-of-the line aviation brands, including Luxaviation, Starspeed, ExecuJet and Paragon, operating across five continents. Services include aircraft management for private and commercial aircraft, private air charter services, and the management and operation of VIP passenger terminals throughout an FBO network of over 110+ facilities worldwide. Luxaviation Group is actively committed to the decarbonization of aviation by supporting the development of sustainable fuels and green infrastructure. More information is available at www.luxaviation.com.

    Media relations
    Haffner Energy
    Laetitia Mailhes
    laetitia.mailhes@haffner-energy.com
    +33 (0)6 07 12 96 76

    Luxaviation Group
    Juliane Thiessen
    Juliane.thiessen@luxaviation.com
    +41 76 356 8251

    Investor relations
    Haffner Energy
    investisseurs@haffner-energy.com 

    Attachment

    The MIL Network

  • MIL-OSI Australia: Celebrating a Decade of the NTPFES Cadet Program

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force and the Northern Territory Fire and Emergency Services proudly celebrates the ten-year anniversary of its NT Police, Fire and Emergency Services (NTPFES) Cadet Program — a unique and impactful initiative that has provided over a decade of vocational training, personal growth, and career pathways for Territory students.

    Launched in 2015, the NTPFES Cadet Program has empowered students in Years 11 and 12 to gain firsthand experience in emergency services while achieving nationally recognised qualifications. The 18-month program includes the completion of the Certificate II in Community Engagement and the Certificate III in Business, delivered through the NTPFES College and Charles Darwin University.

    Over the past ten years, hundreds of young Territorians have graduated from the program across Darwin and Alice Springs, with the most recent squads graduating in Darwin this afternoon and in Alice Springs last Thursday 12 June. This program allows students to develop critical skills through outdoor leadership camps, cultural learning visits to Indigenous communities, community volunteering and immersive work placements within frontline services teams.

    Superintendent of Induction Division Christopher Board, reflected on the milestone, “The NTPFES Cadet Program is an outstanding initiative that has changed lives and strengthened our connection with the community. It gives young Territorians a rare opportunity to grow, learn and lead—while laying the groundwork for future careers in emergency services and beyond. Ten years on, we’re incredibly proud of what this program has achieved.

    “237 Cadets have graduated through this program from Darwin and Alice Springs since 2015, with at least 65 having progressed through civilian or uniformed employment within the NT Police Force and NT Fire and Emergency Services. 16 of these have become either Constables, Aboriginal Community Police Officers or Police Auxiliaries, and one has joined the NTES.”

    Acting Commissioner for NT Fire and Emergency Services Collene Bremner said the program gave the cadets a well-rounded understanding of the NT’s emergency services.

    “As part of the program, the cadets complete placements with the NT Fire and Rescue Service (NTFRS) and NT Emergency Service (NTES). With the NTFRS, they learn critical skills in road crash rescue and how to operate breathing apparatus (BA), and with NTES they complete necessary inductions, rescue foundations and gain boating experience to learn about vessels being used for evacuations, cargo transport and flood rescues.”

    Charles Darwin University (CDU) Vice-Chancellor and President, Professor Scott Bowman AO said, “CDU is incredibly proud to support the NTPFES Cadet Program, which has delivered real-world skills, confidence and career opportunities to young Territorians for a decade.

    “Together with NTPFES and the NT Department of Education and Training, CDU is helping to build a skilled, community-minded workforce ready to lead in emergency services and beyond.”

    NT Department of Education and Training Deputy Chief Executive for Skills, Pathways and Quality, Cathy White said the cadet program helped shape the lives of many young Territorians.

    “The Department congratulates the Northern Territory Police Force, the Northern Territory Fire and Emergency Services and Charles Darwin University for their collaboration through this important training opportunity,” she said.

    “This cadet program opens many opportunities for young people who are now utilising their knowledge to pursue diverse careers in the Territory.”

    The Cadet Program not only fosters civic responsibility and leadership in participants, but also serves as a pathway into government careers.

    As we celebrate this important milestone, the organisation extends heartfelt thanks to all past and present cadets, parents, staff, schools and community partners who have contributed to the success of the program.

    MIL OSI News

  • MIL-OSI New Zealand: New Certification scheme unlocks $200M market for Kiwi cosmetics in China

    Source: New Zealand Government

    Trade and Investment Minister Todd McClay and Commerce and Consumer Affairs Minister Scott Simpson have welcomed a new certification scheme, announced by the Prime Minister in Shanghai today, that unlocks access to China’s $200 million cosmetics and skincare market — a move that will drive stronger returns for New Zealand exporters and boost the economy.

    “This is a smart, practical step that removes a long-standing trade barrier and opens up valuable new channels for our exporters,” McClay says. 

    “It means more high-quality, innovative New Zealand products on shelves in China – not just online, but in stores across one of the world’s fastest-growing consumer markets.”

    The scheme, developed with International Accreditation New Zealand (IANZ) and the Ministry of Business, Innovation and Employment (MBIE), provides exporters with a Government-issued Good Manufacturing Practice (GMP) certificate that meets Chinese regulatory requirements.

    “This certification allows Kiwi-made cosmetics to be sold through traditional retail channels in China, significantly expanding market reach beyond cross-border e-commerce and supporting our goal of doubling exports by value in 10 years,” Mr McClay says.

    Minister Simpson says the scheme is a strong example of the Government’s commitment to backing New Zealand businesses and removing barriers to growth.

    “With global demand for health and beauty products rising, this gives our exporters the confidence to grow and compete in China; quickly, credibly, and at scale,” Mr Simpson says.

    “It’s another example of how we’re cutting red tape and aligning our standards with key trading partners to give Kiwi firms the certainty they need to succeed.”

    How it works:

    • Exporters complete an independent GMP assessment with IANZ.
    • If successful, MBIE confirms compliance with a certificate signed on behalf of the Government.

    New Zealand’s ban on animal testing for cosmetics remains in place, giving Chinese consumers assurance that Kiwi products are high-quality, safe, sustainable, and ethically produced.

    More information and application details will be available online soon.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Animal Welfare – WORLD’S BIGGEST INVESTIGATION INTO EGG FACTORY FARMING. NEW ZEALAND CAGES SCRUTINISED

    Source: Animals Aotearoa

    In the largest global investigation ever, The Open Wing Alliance reveals never-before-seen footage of systemic animal abuse and public health risks in cage egg factory farming. Alongside footage from 36 other countries, the exposé includes footage from a colony cage factory farm in New Zealand.

    New Zealand – June 17 2025 –  “The sound of thousands of trapped chickens, the industrial fans cranking and the stench of waste is beyond words”, says a volunteer investigator from Grassroots Campaigns NZ. “It’s hell inside.”

    This is the description animal welfare investigators gave about what they captured at an Auckland colony cage factory farm. Their footage was given to the Open Wing Alliance, a global coalition of nearly 100 organisations established by The Humane League, in collaboration with We Animals and Reporters for Animals International. Together with Animals Aotearoa, the united group has just released the largest ever investigation into industrialised egg farms in 37 countries. In never-before-seen footage, including from New Zealand, supported by an open letter backed by 100 celebrities.

    “The shocking footage exposes widespread abuse of egg-laying hens trapped in filthy, overcrowded cages, with evidence of injured birds, rotting carcasses, disease-ridden conditions, and more. This investigation comes as bird flu sweeps across every continent, jumping from farmed birds to wild animals and even humans”, says Jennifer Dutton, Corporate Relations Specialist at Animals Aotearoa.

    Footage from 37 countries, including:

    Argentina, Australia, Brazil, Bulgaria, Canada, Chile, Colombia, Estonia, Finland, France, Georgia, Hong Kong, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Slovenia, South Africa, Spain, Taiwan, Thailand, Turkey, United States, Vietnam and Zimbabwe.

    Key findings from the global exposé include:

    Hens confined in battery and enriched/colony cages, giving each chicken only the space of an iPad, or less, to live their entire life;

    Automated systems leave dead bird carcasses trapped in cages with living hens;

    Live hens abandoned in manure and waste pits, and eggs found in manure before sent to shelves;

    Birds unable to stand upright or spread their wings;

    Unsanitary conditions that promote disease spread, like avian influenza.

    This massive coordinated worldwide campaign is focused on spotlighting multinational brands dragging their heels on fulfilling corporate policy to transition away from cage eggs in their supply chains. The vast majority of food corporations around the world publicly committed, a decade ago, to remove cages from their egg supply chains, with global companies like The Hershey Company, Hormel Foods, Famous Brands, and Barilla already fully cage-free. However, food companies like Walmart, Zensho Holdings and Inspire Brands (parent company of Dunkin’ and Baskin-Robbins) continue to profit from sourcing eggs from hens raised in outdated, cruel cages. In New Zealand, hospitality giant Best Western Hotel chain was recently targeted by protestors highlighting the multinational’s lack of transparent reporting on its global cage-free progress, supported by a petition.

    Since 2023, when battery cages were outlawed in Aotearoa, there has been a disinformation campaign by the factory farm lobby to mislead caring New Zealanders about the continued domestic production of cage eggs. While battery cages are no longer in use, colony cages are. Eggs sold at retail level from these colony cage systems don’t contain the word ‘cage’ anywhere on the packaging. Following a number of complaints, the Commerce Commission is currently conducting a compliance project to assess whether colony eggs are a breach of the Fair Trading Act.

    In addition to cage eggs being sold under misleading labelling, the import of liquid eggs from battery cages is a significant problem. Over 80% of New Zealand’s liquid eggs, used largely in food manufacture, are imported from China and Australia where egg-laying hens are kept in battery cages. Produced using methods illegal here, they are added into Kiwi foods and quietly sold to the caring public who are unaware.

    Consumers around the world are increasingly demanding transparency and ethical treatment of animals in food production, and they won’t stand for further risks to our global public health. Over 100 celebrity figures signed an open letter urging food corporations to end the use of cages in their global supply chains. This investigation s

    MIL OSI New Zealand News

  • MIL-OSI Submissions: Aviation – Lufthansa honored with World Airline Awards 2025

    Source: Lufthansa

    • Most family-friendly airline and best First Class lounge worldwide
    • Austrian Airlines and Eurowings also receive Awards

    Frankfurt 17 June 2025 – Lufthansa is the world’s most family-friendly airline. This prize from the World Airline Awards 2025 was presented today by the market research institute Skytrax at the Paris Air Show. The Lufthansa First Class Terminal in Frankfurt was also named the world’s best First Class Lounge. Austrian Airlines and Eurowings also received one of the coveted prizes – the award for “Best Airline Staff in Europe” went to Austrian Airlines in Vienna and Eurowings was named “Best Low Cost Airline in Europe”. Skytrax, a market research institute specializing in aviation, had previously surveyed 22.3 million passengers from well over 100 countries worldwide.

    “Lufthansa attaches great importance to ensuring that all guests on board feel comfortable with us – from Economy to First Class. I am therefore particularly pleased that we have received the award for the world’s most family-friendly airline and at the same time for the best First Class lounge,” says Heiko Reitz, Chief Customer Officer Lufthansa Airlines. “Above all, Lufthansa’s unsurpassed hospitality is also premium. In particular, our colleagues in the cabin, cockpit and on the ground can be very proud today. They are the ones who fulfill our promise of quality day after day.”

    Traveling with children  

    Lufthansa attaches great importance to ensuring that its youngest guests also feel comfortable on board. The airline therefore offers specially created kids’ menus prepared by the chefs at Gate Gourmet. The menus belong to the “Special Meals” category and can be pre-ordered by passengers free of charge up to 24 hours before departure. The offer applies to all classes on long-haul flights and to Business Class on short-haul flights.

    The trays are lovingly designed with colorful illustrations of the Lufthansa mascots “Lu” and “Cosmo” and the menu card invites young passengers to puzzle and color while they playfully learn how an airplane flies.

    Lufthansa has also introduced a new range of children’s toys on board. From cloud-shaped cuddly blankets for toddlers to puzzles and the game “City, Country, Flight”, there is something for every taste and every age. There is also a portfolio of coloring pages featuring Lu and Cosmo, which can be accessed via the Lufthansa eJournals homepage. Young passengers will also find magazines for children and teenagers in various languages. The in-flight entertainment program for children includes a large selection of films, series, music, audio books and podcasts. Children can also look forward to special amenity kits and, from summer 2025, new year-round “Best Friend” children’s boarding passes.

    Travel in Lufthansa First Class

    The separate First Class terminal in Frankfurt with limousine transfer directly to the aircraft and personal assistant, which has been named the best First Class lounge in the world, is emblematic of Lufthansa’s premium offering.

    Since the beginning of the year, traveling in Lufthansa’s top class has become even more exclusive. The new Lufthansa Allegris First Class on long-haul aircraft can be experienced in the summer timetable on flights from Munich to San Francisco, Chicago, San Diego, Shanghai and Bengaluru and sets new standards with two individual suites and the extraordinary Suite Plus: guests can heat or cool their almost one meter wide seats in the individual suites according to their personal needs. The separate cabins with ceiling-high walls and lockable door, large table and wide seat, a living room-sized screen and wireless “over-ear” headphones define a new standard in comfort and individuality. Generous storage space is provided by a personal wardrobe in the suite, so that travelers can change comfortably and have all their personal items to hand. Individual lamps allow travelers to create their very own feel-good atmosphere.

    The Suite Plus double cabin, the only one of its kind in the world, creates a special travel experience with two wide seats that can be combined to form a comfortable double bed if required. The flying private room impresses with maximum comfort and individuality. The Suite Plus offers maximum exclusivity for the single passenger and the unique opportunity to use the double cabin as a couple.

    The new First Class is part of a major Lufthansa premium offensive. Among other things, First Class guests can also look forward to renovated First Class check-in areas in Frankfurt (from late summer) and Munich as well as the newly designed First Class Lounge at Munich Airport.

    Skytrax

    The survey was conducted by the market research institute Skytrax. It evaluated the airlines’ in-flight offers and services at the airports. Skytrax has been conducting the annual passenger survey since 1999. All detailed results of the World Airlines Awards can be found at www.worldairlineawards.com

    MIL OSI – Submitted News

  • MIL-OSI Russia: The Zaryadye Park will host the Theatre Weekends festival

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    A large-scale festival will be held for the third time in Zaryadye Park on June 21 and 22 “Theatre Weekend”. He will become part of the project. “Summer in Moscow” and will be dedicated to important historical dates: the 165th anniversary of Anton Chekhov’s birth and the 80th anniversary of the victory in the Great Patriotic War. The program includes street performances, plays, concerts and master classes, which will take place from 2:00 PM to 11:00 PM. Admission to all events is free.

    This year’s festival is expected to be a record-breaking one in terms of the number of participants and the program’s content — 13 theaters and theater schools, 16 productions. Guests will get acquainted with both recognized stage masters and talented debutants.

    Visitors will be able to see productions by students of the Russian Institute of Theatre Arts – GITIS, the Moscow Art Theatre School and the Moscow State Institute of Culture. In addition, they will be shown fragments of plays performed by actors of the Russian Academic Youth Theatre and the Praktika Theatre, as well as works by young directors. The special guest of the festival will be the team of the Donetsk Republican Academic Youth Theatre. In addition, viewers will see fragments of plays by the Moscow Art Theatre named after A.P. Chekhov, the Moscow Sovremennik Theatre, the Et Cetera Theatre under the direction of Alexander Kalyagin, the Moscow Academic Theatre named after Vladimir Mayakovsky and the Central Academic Theatre of the Russian Army.

    Watch performances dedicated to Anton Chekhov

    The festival days will traditionally be themed. The first day, June 21, will be dedicated to the 165th anniversary of the birth of writer Anton Chekhov. Spectators will see multi-genre productions on the stage of the large amphitheater. At 16:00, the A.P. Chekhov Moscow Art Theater will present fragments of the play “My Life” directed by Sergei Tonyshev. At 17:00, the bright program “Chekhov-gala” directed by Alexei Borodin of the Russian Academic Youth Theater will begin.

    In addition, the anniversary day program will include excerpts from the play “Your Chekhov” (starts at 17:40) directed by Anna Artamonova of the Et Cetera Theater under the direction of Alexander Kalyagin, as well as fragments of the production “Ward No. 6” (starts at 22:00) directed by Evgeny Zakirov of the Mayakovsky Theater. Fourth-year students of Sergei Zhenovach’s workshop and graduates of Yuri Butusov’s course of the Russian Institute of Theatre Arts – GITIS will show a series of sketches “Chekhov. Stories” (starts at 20:00). The evening will continue with second-year students of Marina Brusnikina and Sergei Shchedrin’s workshop from the Moscow Art Theater School. They have prepared a performance of “Chekhov’s Stories” (starting at 19:00) and a dedication concert “The Seagull” (starting at 21:05).

    Remember the Great Victory

    On June 22, the Day of Remembrance and Sorrow, the stage of the large amphitheater of Zaryadye Park will feature performances dedicated to the 80th anniversary of the victory in the Great Patriotic War. At 4:00 PM, actors of the Russian State Academic Youth Theater will show the production “Amazement Before Life” directed by Alexey Mishakov based on the works of the war veteran writer Viktor Rozov. At 5:00 PM, third-year students of the Moscow State Institute of Culture will perform the literary and musical composition “Frontline Brigades” directed by Alena Khovanskaya. The play “On a Clear Day,” directed by Marina Brusnikina based on the story of the war veteran writer Viktor Astafyev, will be presented at 6:15 PM by actors of the Donetsk Republican Youth Theater.

    At 19:30, actors from the Moscow Sovremennik Theatre will show fragments of the play “A Tale. The Story of an Extraordinary Love”, staged by Marina Brusnikina based on Anna Baturina’s play “Front-line Soldier”. At 20:10, students from the Moscow Art Theatre School will present a musical and literary programme “Russian Poets about the Great Patriotic War”. It will feature works by Bulat Okudzhava, Alexander Tvardovsky, Andrei Voznesensky, Olga Berggolts, Vladimir Lugovskoy, Yuna Moritz and other authors.

    People’s Artist of Russia Konstantin Raikin will read the poem “Snowfall” by David Samoilov at 21:00. The festival will end with a musical and theatrical program of actors from the Central Academic Theater of the Russian Army. Director – Yulia Shulva. The open rehearsal will begin at 21:15, the concert – at 22:00.

    Take a trial exam

    Over the course of two days, June 21 and 22, in the small amphitheater from 4:00 PM to 6:00 PM, anyone who wishes will be able to take trial exams to enter a theater school and demonstrate their talents to a professional admissions committee. The committee will include theater figures, including Marina Zudina, Svetlana Kolpakova, Igor Gordin, Oleg Topolyansky, and Igor Vernik. In addition, the participants’ performances will be assessed by directors — artistic director of the A.S. Pushkin Theater Yevgeny Pisarev, artistic director of the Mayakovsky Theater Yegor Peregudov, as well as chief director of the Russian State Academic Youth Theater and artistic director of the Praktika Theater Marina Brusnikina.

    Participants in trial exams will be able to demonstrate themselves in various genres: read prose or poetry, sing a song. Everyone will receive a professional assessment and useful recommendations from stage masters. Improvised auditions will help aspiring actors test their strength before entering theater universities and gain valuable experience communicating with professionals who are ready to share their knowledge and suggest the future path in an acting career.

    Learn improvisation and stage speech

    On June 21 and 22 from 2:00 PM to 4:00 PM, the Big Meadow will host acting, improvisation and stage speech classes for the youngest guests, “Theater from Childhood.” They will be conducted by Oleg Sapiro, an actor from the Mayakovsky Theater. Participants will not talk about theater — they will play it: recall lines from different works, complete tasks for imagination, liberation and improvisation. Both children and adults will enjoy body warm-ups, speech and rhythm, as well as acting training.

    See open-air performances

    A stage for street children’s (family) performances will be located near the Zapovednoye Posledstvo pavilion. On June 21, from 4:00 PM to 6:30 PM, viewers will see the premiere – the play “Tales of the Resourceful Soldier” directed by Olga Levitina. Actors from Akulina Svetelkina’s artel will show an interactive, fun performance about the extraordinary valor and ingenuity of ordinary soldiers during Peter the Great’s time. On June 22, there will be a play “Theater on the Carpet” (from 5:15 PM to 6:15 PM) – a project of the Taste Theater, a resident of the Praktika Theater, as well as the production “My First Business” (from 4:00 PM to 5:00 PM) by the Russian State Academic Youth Theater.

    What has been prepared for children at the Summer in Moscow sites from June 18 to 22Young readers are invited to new meetings at Literary Boulevard

    Project “Summer in Moscow” — the main event of the season, uniting the brightest events of the capital. Every day in all districts of the city there are charity, cultural and sports events, most of which are free. The project “Summer in Moscow” is held for the second time, and the new season will be more intense: new festivals and events will be added to the traditional ones — original and colorful.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

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

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

    https: //vv.mos.ru/nevs/ite/155392073/

    MIL OSI Russia News

  • MIL-OSI Australia: Diamond Energy pays penalties for failing to adequately communicate pricing information to consumers

    Source: Australian Ministers for Regional Development

    Electricity provider Diamond Energy Pty Ltd has paid $46,950 in penalties after the ACCC issued it with three infringement notices for allegedly breaching the Electricity Retail Code (the Code).

    Under the Code, electricity retailers must provide certain information about pricing, such as the lowest possible price, to help consumers compare different electricity plans.

    The three infringement notices relate to allegations that Diamond Energy failed to communicate mandatory information to three of its customers.

    The ACCC has also accepted a court-enforceable undertaking from Diamond Energy in which it has admitted it contravened the Code.

    Diamond Energy admitted that in June 2024 it sent communications to 12,809 customers which failed to include the required pricing information under the Code, when notifying these customers of price changes to their electricity plans.

    Diamond Energy also admitted that it failed to include on its website some of the required pricing information under the Code between 1 January and 30 June 2024 in relation to 44 of its electricity plans, and then also between 1 July and 20 September 2024 in relation to a further 44 plans.

    “By not disclosing the required pricing information to its customers, Diamond Energy has impacted consumers’ ability to make an informed decision when comparing prices across electricity retailers,” ACCC Commissioner Anna Brakey said.

    “It is vital that electricity retailers provide consumers with accurate information so they can compare and access the most competitive prices in the market.”

    In the court-enforceable undertaking, Diamond Energy has committed to introduce a compliance program to ensure it complies with the Code.

    “We will continue to monitor electricity providers to ensure they adequately disclose pricing information to consumers,” Ms Brakey said.

    What electricity retailers must tell consumers

    The Code requires retailers to include certain information when it communicates its offered prices to residential and small business customers by advertising or publishing the price, offering to supply electricity at that price, or notifying the customer of a change to the price.

    Consumers who believe their retailer has failed to provide the required information should in the first instance contact their retailer, which is obliged to inform them of this information under the Code.

    The undertaking is available at Diamond Energy Pty Ltd.

    Notes to editors

    The ACCC can issue an infringement notice when it has reasonable grounds to believe a person or business has contravened certain provisions of an industry code.

    A person or business is not regarded has having contravened the provision of the industry code merely by paying the penalty specified in an infringement notice.

    Background

    The Code applies to electricity retailers that supply electricity to residential and small business customers in applicable distribution regions in New South Wales, South Australia, and South East Queensland. Diamond Energy is a retail electricity supplier in these regions.

    Since the Code was introduced in 2019, the ACCC has issued infringement notices to Locality Planning EnergyCovaU, ReAmped Energy and Dodo Power & Gas for allegedly failing to include certain mandatory information when communicating prices. The ACCC has also accepted a court-enforceable undertaking from CovaU and Dodo in response to breaches of the Code.

    In September 2024, the Federal Court ordered Energy Australia pay penalties of $14 million for making false, misleading or deceptive statements to around 566,000 consumers about electricity prices and failing to provide mandatory information required by the Code.

    One of the ACCC’s Compliance and Enforcement Priorities for 2025-26 is ‘misleading pricing and claims in relation to essential services, with a particular focus on energy and telecommunications’.

    MIL OSI News

  • MIL-OSI USA: Former SBA Employee from South Florida Headed to Federal Prison After Defrauding COVID-19 Relief Programs

    Source: United States Small Business Administration

    Click Here to View the Original U.S. Department of Justice (DOJ) Press Release


    A former Small Business Administration (SBA) employee who fraudulently obtained COVID-19 relief money to spend on luxury items was sentenced on June 13.

    United States District Judge Rodolfo A. Ruiz II sentenced Malaina Chapman, 38, to 54 months imprisonment, followed by three years of supervised release. Judge Ruiz further ordered Chapman to pay $1,297,178 in restitution.

    According to court documents and statements made in court, Chapman was employed as a Disaster Relief Specialist with the SBA from September 28, 2020 through March 18, 2021. While employed by the SBA, Chapman became involved in multiple schemes to defraud the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan program, as well as local credit unions and local and state programs designed to assist those affected by the COVID-19 pandemic.

    On February 10, 2021, Chapman submitted an online loan application in the name of Upscale Credit Lounge, LLC to a lender. In support of her application, Chapman submitted a false and fraudulent Schedule C (Form 1040) that reported gross revenues of $103,674 and a tentative profit of $81,860 for 2020. The lender relied upon the representations in Chapman’s application to approve a loan in the amount of $17,052.50.

    On February 19, 2021, Chapman submitted an online PPP loan application with the lender on behalf of DA TRAP, LLC. In her application, Chapman claimed that she had four employees and an average monthly payroll of $14,191.  In support of her application, Chapman submitted a false and fraudulent Employers Quarterly Tax Return (Form 941), which purportedly documented the wages paid by DA TRAP.  Relying on the representations in the application, the lender approved a loan in the amount of $35,477.50.

    In total, Chapman received $230,246 for the loan applications she submitted on her own behalf.

    Chapman also conspired with others to submit false and fraudulent PPP loan applications on their behalf. Six defendants were charged under case number 24-cr-20079. For that conspiracy, Chapman was held accountable for losses of $837,716.

    In addition to defrauding the PPP program, Chapman also took advantage of the State of Florida and the City of Miami’s COVID-19 Emergency Rental Assistance Programs.

    Chapman spent the money on luxury items from Louis Vuitton, Nordstrom, Goyard, Chanel, Fendi, as well as a designer teacup puppy. Chapman also spent over $7,500 on a stay at a Key Largo luxury resort.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; Special Agent in Charge Jonathan Ulrich, U.S. Postal Service Office of Inspector General (USPS OIG); Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Investigations Division’s Eastern Region; and Special Agent in Charge Mathew Broadhurst of the U.S. Department of Labor Office of Inspector General (DOL-OIG), Southeast Region, made the announcement.

    This case was investigated by USPS-OIG, SBA-OIG, and DOL-OIG.

    Assistant U.S. Attorney Daniel Bernstein prosecuted the case.

    Assistant U.S. Attorney Gabrielle Charest-Turken is handling asset forfeiture.

    In March 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was enacted. It was designed to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic. Among other sources of relief, the CARES Act authorized and provided funding to the SBA to provide EIDLs to eligible small businesses, including sole proprietorships and independent contractors, experiencing substantial financial disruptions due to the COVID-19 pandemic to allow them to meet financial obligations and operating expenses that could otherwise have been met had the disaster not occurred.  EIDL applications were submitted directly to the SBA via the SBA’s on-line application website, and the applications were processed and the loans funded for qualifying applicants directly by the SBA.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

    On September 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud. For more information on the department’s response to the pandemic, please click here.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number  24-cr-20321.

    MIL OSI USA News

  • MIL-OSI Security: Former SBA Employee from South Florida Headed to Federal Prison After Defrauding COVID-19 Relief Programs

    Source: United States Department of Justice (National Center for Disaster Fraud)

    MIAMI – A former Small Business Administration (SBA) employee who fraudulently obtained COVID-19 relief money to spend on luxury items was sentenced on June 13.

    United States District Judge Rodolfo A. Ruiz II sentenced Malaina Chapman, 38, to 54 months imprisonment, followed by three years of supervised release. Judge Ruiz further ordered Chapman to pay $1,297,178 in restitution.

    According to court documents and statements made in court, Chapman was employed as a Disaster Relief Specialist with the SBA from September 28, 2020 through March 18, 2021.   While employed by the SBA, Chapman became involved in multiple schemes to defraud the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan program, as well as local credit unions and local and state programs designed to assist those affected by the COVID-19 pandemic.

    On February 10, 2021, Chapman submitted an online loan application in the name of Upscale Credit Lounge, LLC to a lender. In support of her application, Chapman submitted a false and fraudulent Schedule C (Form 1040) that reported gross revenues of $103,674 and a tentative profit of $81,860 for 2020. The lender relied upon the representations in Chapman’s application to approve a loan in the amount of $17,052.50. 

    On February 19, 2021, Chapman submitted an online PPP loan application with the lender on behalf of DA TRAP, LLC. In her application, Chapman claimed that she had four employees and an average monthly payroll of $14,191.  In support of her application, Chapman submitted a false and fraudulent Employers Quarterly Tax Return (Form 941), which purportedly documented the wages paid by DA TRAP.  Relying on the representations in the application, the lender approved a loan in the amount of $35,477.50.

    In total, Chapman received $230,246 for the loan applications she submitted on her own behalf.

    Chapman also conspired with others to submit false and fraudulent PPP loan applications on their behalf. Six defendants were charged under case number 24-cr-20079. For that conspiracy, Chapman was held accountable for losses of $837,716.

    In addition to defrauding the PPP program, Chapman also took advantage of the State of Florida and the City of Miami’s COVID-19 Emergency Rental Assistance Programs. 

    Chapman spent the money on luxury items from Louis Vuitton, Nordstrom, Goyard, Chanel, Fendi, as well as a designer teacup puppy. Chapman also spent over $7,500 on a stay at a Key Largo luxury resort.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; Special Agent in Charge Jonathan Ulrich, U.S. Postal Service Office of Inspector General (USPS OIG); Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Investigations Division’s Eastern Region; and Special Agent in Charge Mathew Broadhurst of the U.S. Department of Labor Office of Inspector General (DOL-OIG), Southeast Region, made the announcement.

    This case was investigated by USPS-OIG, SBA-OIG, and DOL-OIG.

    Assistant U.S. Attorney Daniel Bernstein prosecuted the case.

    Assistant U.S. Attorney Gabrielle Charest-Turken is handling asset forfeiture.

    In March 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was enacted. It was designed to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic. Among other sources of relief, the CARES Act authorized and provided funding to the SBA to provide EIDLs to eligible small businesses, including sole proprietorships and independent contractors, experiencing substantial financial disruptions due to the COVID-19 pandemic to allow them to meet financial obligations and operating expenses that could otherwise have been met had the disaster not occurred.  EIDL applications were submitted directly to the SBA via the SBA’s on-line application website, and the applications were processed and the loans funded for qualifying applicants directly by the SBA.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

    On September 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud. For more information on the department’s response to the pandemic, please click here.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number  24-cr-20321.

    ###

    MIL Security OSI

  • MIL-OSI Security: Former SBA Employee from South Florida Headed to Federal Prison After Defrauding COVID-19 Relief Programs

    Source: United States Department of Justice (National Center for Disaster Fraud)

    MIAMI – A former Small Business Administration (SBA) employee who fraudulently obtained COVID-19 relief money to spend on luxury items was sentenced on June 13.

    United States District Judge Rodolfo A. Ruiz II sentenced Malaina Chapman, 38, to 54 months imprisonment, followed by three years of supervised release. Judge Ruiz further ordered Chapman to pay $1,297,178 in restitution.

    According to court documents and statements made in court, Chapman was employed as a Disaster Relief Specialist with the SBA from September 28, 2020 through March 18, 2021.   While employed by the SBA, Chapman became involved in multiple schemes to defraud the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan program, as well as local credit unions and local and state programs designed to assist those affected by the COVID-19 pandemic.

    On February 10, 2021, Chapman submitted an online loan application in the name of Upscale Credit Lounge, LLC to a lender. In support of her application, Chapman submitted a false and fraudulent Schedule C (Form 1040) that reported gross revenues of $103,674 and a tentative profit of $81,860 for 2020. The lender relied upon the representations in Chapman’s application to approve a loan in the amount of $17,052.50. 

    On February 19, 2021, Chapman submitted an online PPP loan application with the lender on behalf of DA TRAP, LLC. In her application, Chapman claimed that she had four employees and an average monthly payroll of $14,191.  In support of her application, Chapman submitted a false and fraudulent Employers Quarterly Tax Return (Form 941), which purportedly documented the wages paid by DA TRAP.  Relying on the representations in the application, the lender approved a loan in the amount of $35,477.50.

    In total, Chapman received $230,246 for the loan applications she submitted on her own behalf.

    Chapman also conspired with others to submit false and fraudulent PPP loan applications on their behalf. Six defendants were charged under case number 24-cr-20079. For that conspiracy, Chapman was held accountable for losses of $837,716.

    In addition to defrauding the PPP program, Chapman also took advantage of the State of Florida and the City of Miami’s COVID-19 Emergency Rental Assistance Programs. 

    Chapman spent the money on luxury items from Louis Vuitton, Nordstrom, Goyard, Chanel, Fendi, as well as a designer teacup puppy. Chapman also spent over $7,500 on a stay at a Key Largo luxury resort.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; Special Agent in Charge Jonathan Ulrich, U.S. Postal Service Office of Inspector General (USPS OIG); Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Investigations Division’s Eastern Region; and Special Agent in Charge Mathew Broadhurst of the U.S. Department of Labor Office of Inspector General (DOL-OIG), Southeast Region, made the announcement.

    This case was investigated by USPS-OIG, SBA-OIG, and DOL-OIG.

    Assistant U.S. Attorney Daniel Bernstein prosecuted the case.

    Assistant U.S. Attorney Gabrielle Charest-Turken is handling asset forfeiture.

    In March 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was enacted. It was designed to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic. Among other sources of relief, the CARES Act authorized and provided funding to the SBA to provide EIDLs to eligible small businesses, including sole proprietorships and independent contractors, experiencing substantial financial disruptions due to the COVID-19 pandemic to allow them to meet financial obligations and operating expenses that could otherwise have been met had the disaster not occurred.  EIDL applications were submitted directly to the SBA via the SBA’s on-line application website, and the applications were processed and the loans funded for qualifying applicants directly by the SBA.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

    On September 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud. For more information on the department’s response to the pandemic, please click here.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number  24-cr-20321.

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    MIL Security OSI

  • MIL-OSI China: US retail sales drop, miss expectations amid tariff fears

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

    U.S. retail sales declined sharply in May, missing analysts’ expectations, amid concerns that President Donald Trump’s tariffs could damage the economy, according to data released on Tuesday by the U.S. Department of Commerce (DOC).

    Retail sales fell 0.9 percent, exceeding the 0.6 percent drop that economists had forecast.

    The decline reflected growing worries that the Trump administration’s sweeping tariffs might slow down consumer activity.

    One major factor in the decline was a drop in auto sales. Many consumers made large purchases earlier in anticipation of tariff announcements, avoiding car dealerships in May.

    In addition to auto sales, building materials and garden supply stores saw a 2.7 percent decline. Lower energy prices led to a 2 percent drop in revenue at gas stations. Sales at food and beverage stores were down 0.7 percent, including a 0.8 percent decline at grocery stores. Health and personal care store sales edged down 0.1 percent.

    “Today’s data suggests consumers are downshifting,” Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, told reporters.

    Following the report, U.S. stock futures remained in negative territory, and Treasury yields also fell. 

    MIL OSI China News

  • MIL-OSI USA: SBA Amends Disaster Declaration for Nebraska

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – In response to an amended Presidential public assistance declaration, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to private nonprofit (PNP) organizations in Dakota County affected by the severe winter storm and straight-line winds occurring March 18-19.

    These low-interest federal disaster loans are available in the Nebraska counties of Boone, Burt, Butler, Cass, Clay, Colfax, Cuming, Dakota, Dodge, Douglas, Fillmore, Hamilton, Jefferson, Johnson, Lancaster, Nuckolls, Otoe, Platte, Polk, Saline, Sarpy, Saunders, Seward, Thayer, Thurston, Washington, Webster and York.

    Applicants may be eligible for a loan amount increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements might include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future damage caused by any disaster. 

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses, private nonprofits and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

    PNPs are also eligible to apply for Economic Injury Disaster Loans (EIDLs) to help meet working capital needs. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster. EIDL assistance is available regardless of whether the PNP suffered any physical property damage. 

    The loan amount can be up to $2 million with interest rates are as low as 3.62% for PNPs, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA will set loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return applications for physical property damage is July 22, 2025. The deadline to return economic injury applications is Feb. 23, 2026.

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    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News

  • MIL-OSI USA: SBA Offers Relief to Missouri Private Nonprofits Affected by April Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to private nonprofit (PNP) organizations in Missouri affected by severe storms, straight-line winds, tornadoes and flooding beginning April 29.

    The disaster declaration covers the Missouri counties of Barry, Greene, Lawrence, McDonald, Newton and Washington.

    Under this declaration, PNPs providing non-critical services of a governmental nature impacted by physical damages or financial losses directly related to the disaster are eligible to apply for both business physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    PNPs may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes.

    EIDLs are for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    Interest rates are as low 3.62% for PNPs, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA will set loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return physical damage applications is Aug. 11, 2025. The deadline to return economic injury applications is March 9, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News