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Category: Commerce

  • MIL-OSI USA: AG Brown sues five apartment complexes and their property management firm for deceiving low-income senior tenants

    Source: Washington State News

    SEATTLE – Attorney General Nick Brown today filed a complaint in Snohomish County Superior Court against California-based property management company FPI Management and the owners of five apartment complexes in Western Washington, alleging that they engaged in unfair and deceptive practices impacting hundreds of vulnerable senior tenants at the properties.

    FPI and the property owners market their apartment complexes as “low-income” units to tenants who are 55 and older.

    Over a period of several years, FPI and the property owners failed to disclose to their low-income senior tenants how their rent would be calculated and increased in the future, and misrepresented the quality of their apartment units, the availability and quality of building amenities like pools or fitness areas, and safety at the properties. These are all violations of the Consumer Protection Act.

    “Housing is particularly important for older Washingtonians, and it’s hard for them to move once they’ve signed a lease,” Brown said. “It’s egregious to convince vulnerable populations they’re getting quality living when in reality they are stuck with properties in disrepair that also end up costing more than they expected over time.”

    The property owners participate in the Low-Income Housing Tax Credit Program (LIHTC), through which they receive valuable tax credits in exchange for setting aside a certain number of apartment units in their buildings for tenants below a certain income threshold. The maximum rental rates under this program are set annually by the U.S. Department of Housing & Urban Development, based on the rise or fall of the area median income (AMI) in the county where the property is located. This is unlike other forms of housing assistance, in which the amount of rent a tenant will pay is based on their own income, and not the income of other people in the area.

    FPI and the property owners do not explain or adequately disclose to prospective tenants that their monthly rent will be calculated based on AMI, which is often significantly more than the fixed Social Security or pension incomes many senior LIHTC tenants must live on. As a result, these tenants often end up paying an unsustainable portion of their fixed income as rent, leaving little for other expenses like food, transportation, or medical expenses.

    This failure to disclose key details about rent calculations and increases surprised and harmed seniors, who are less likely to move units once they’re in, even if costs become unmanageable, due to the cost and physical demands of moving.

    The defendants in this case also misrepresent the quality of their buildings, marketing them as “luxury” and “resort style,” when in reality many tenants move in only to find their units dirty with broken appliances, leaks, mold, worn carpets, torn flooring, and more issues. Despite the promise of quality amenities like pools, fitness centers, and computer rooms, tenants found such amenities either did not exist, were inoperable, or were permanently closed and shut down.

    The apartment complexes were also not safe and secure as defendants represented. Many have no one monitoring who is entering, which has led to trespassing and other crimes on site. Their parking lots also experience frequent prowling, theft and vandalism.

    The complaint seeks an injunction preventing the defendants from continuing to engage in the unlawful conduct alleged, restitution to impacted tenants, an enhanced civil penalty of $12,500 for each Consumer Protection Act violation due to the vulnerable nature of the seniors who were targeted and impacted, and an award to the state for the costs of pursuing litigation.

    Attorney General’s Office staff handling the case include Assistant Attorneys General Anthony Thach and Emily Nelson, Senior Investigator Jennifer Treppa, and Paralegal Logan Young.

    A copy of the complaint is available here.

    -30-

    Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties.

    Visit www.atg.wa.gov to learn more.

    Media Contact:

    Email: press@atg.wa.gov

    Phone: (360) 753-2727

    General contacts: Click here

    Media Resource Guide & Attorney General’s Office FAQ

    MIL OSI USA News –

  • MIL-OSI Europe: Answer to a written question – Digitisation of public administration and protection of European citizens’ data – E-000997/2025(ASW)

    Source: European Parliament

    The Interoperable Europe Act[1] mandates EU and public bodies to conduct interoperability assessments (since 2025) and promotes cross-border collaboration via a share-and-reuse mechanism for solutions.

    This addresses interoperability gaps in states like Romania. To strengthen cybersecurity, the EU equipped itself with an extensive and solid legal framework, which includes the NIS2 Directive[2], the Cyber Resilience Act[3], the Cyber Solidarity Act[4] and the Cybersecurity Act[5] establishing the European Union Agency for Cybersecurity (ENISA), while the Digital Europe Programme (DEP) and Recovery and Resilience Facility (RRF) fund IT infrastructure upgrades.

    For example, the Romanian recovery and resilience plan contains several reforms and investments to bolster cybersecurity of public and private entities for a budget of approximately EUR 138 million.

    The European Digital Identity (EUDI) Wallet and upcoming EU Business Wallet provide secure, harmonised digital identification for citizens, businesses, and public administrations to authenticate, receive notifications, and share verified credentials.

    For data protection, the Once-Only Technical System (OOTS) enables secure cross-border data sharing (e.g. birth certificates), identification through eIDAS/EUDI Wallets, with user consent and data previews.

    The Digital-Ready Policymaking (DRPM) framework ensures EU policies embed interoperability safeguards, including a mandatory ‘digital statement’ during policy design.

    Together, these initiatives streamline access to digital services (e.g. a Romanian citizen sharing data with a German institution) while ensuring compliance with the General Data Protection Regulation (GDPR)[6] and cybersecurity standards.

    • [1] Regulation (EU) 2024/903 of the European Parliament and of the Council of 13 March 2024 laying down measures for a high level of public sector interoperability across the Union; OJ L, 2024/903, 22.3.2024.
    • [2] Directive (EU) 2022/2555 of the European Parliament and of the Council of 14 December 2022 on measures for a high common level of cybersecurity across the Union, amending Regulation (EU) No 910/2014 and Directive (EU) 2018/1972, and repealing Directive (EU) 2016/1148; OJ L 333, 27.12.2022, p. 80-152.
    • [3] Regulation (EU) 2024/2847 of the European Parliament and of the Council of 23 October 2024 on horizontal cybersecurity requirements for products with digital elements and amending Regulations (EU) No 168/2013 and (EU) 2019/1020 and Directive (EU) 2020/1828; OJ L, 2024/2847, 20.11.2024.
    • [4] Regulation (EU) 2025/38 of the European Parliament and of the Council of 19 December 2024 laying down measures to strengthen solidarity and capacities in the Union to detect, prepare for and respond to cyber threats and incidents and amending Regulation (EU) 2021/694; OJ L, 2025/38, 15.1.2025.
    • [5] Regulation (EU) 2019/881 of the European Parliament and of the Council of 17 April 2019 on ENISA and on information and communications technology cybersecurity certification and repealing Regulation (EU) No 526/2013; OJ L 151, 7.6.2019, p. 15-69.
    • [6] Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC; OJ L 119, 4.5.2016, p. 1-88.

    MIL OSI Europe News –

  • MIL-OSI Banking: Influencers hail Nvidia-Mistral partnership as game-change for European tech, reveals GlobalData

    Source: GlobalData

    Influencers hail Nvidia-Mistral partnership as game-change for European tech, reveals GlobalData

    Posted in Business Fundamentals

    NVIDIA Corp (NVIDIA) has announced a significant partnership with French startup Mistral AI to build “Mistral Compute,” a powerful new AI cloud infrastructure. While influencers have universally praised the scale of the initiative, which will deploy tens of thousands of GPUs, influencers see it as a monumental win for both European AI sovereignty and the US-led open-source movement, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.

    Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “Influencers lauded the partnership for creating an integrated AI stack that will massively increase AI compute capacity. However, a clear divergence emerged in their analysis. Some framed the deal as a game-changer for European tech, emphasizing the creation of a ‘Sovereign AI infrastructure.’ Also, a few others saw it as a ‘massive win for America,’ suggesting that open models running on US chips could become the global template.”

    Below are a few popular influencers opinions captured by GlobalData’s Social Media Analytics Platform:

    1. Ray Wang, Technologist:

    “1) One of the key partnerships announced is between Nvidia and French startup Mistral, which will build an “AI cloud” that will deploy 18,000 Nvidia Grace Blackwell chips. This will allow businesses to develop and use AI through Mistral’s models, Nvidia said. 2) In Germany, Nvidia said it is building what it has dubbed as an “industrial cloud” that will feature 10,000 GPUs and will be specifically designed to provide services for European manufacturers.”

    1. Paul Murphy, Partner at Lightspeed:

    “Our @lightspeedvp  portfolio company @MistralAI ‘s next big move – Mistral Compute 18,000 NVIDIA Grace Blackwell chips, 10x increase in EU AI compute capacity over 2 years. Sovereign AI infrastructure, game changing for European tech! ”

    1. Beth Kindig, Lead Tech Analyst at I/O Fund :

    “Mistral and Nvidia $NVDA are partnering to create Mistral Compute, offering customers a private and integrated AI stack spanning GPUs, orchestration, APIs, products and services, with “tens of thousands” of GPUs available..”

    1. Anjney Midha, General Partner @ a16z:

    “”Today we’re announcing we’re going to build an AI cloud together with @MistralAI”  Jensen @nvidia GTC today unveiling Mistral Compute This is a massive win for America and for open source Open models on US chips wil be the template for AI infrastructure buildouts globally.”

    MIL OSI Global Banks –

  • MIL-OSI Banking: Danone Bebelac ads highlight nutritional innovation, child well-being, and parental trust, reveals GlobalData

    Source: GlobalData

    Danone Bebelac ads highlight nutritional innovation, child well-being, and parental trust, reveals GlobalData

    Posted in Business Fundamentals

    French food giant Danone’s YouTube advertisements of growing-up milk brand Bebelac from December 2024 to May 2025 emphasize key values such as child health, parental involvement, and evidence-based nutrition, appealing to caregivers who seek optimal choices for their children. They aim to foster a sense of community among parents, facilitating the exchange of experiences and insights related to child nutrition and development, reveals Global Ads Platform of GlobalData, a leading data and analytics company.

    Sagar Kishor, Ads Analyst at GlobalData, comments: “Bebelac’s advertising strategy skilfully addresses the concerns of modern parents by prioritizing the essential nutritional needs of their children. The brand’s emphasis on promoting cognitive and social development, along with its engaging and playful approach, establishes Bebelac’s presence in the child nutrition sector. Furthermore, the integration of recognizable characters and interactive promotions enhances the brand’s visibility and resonance with families, creating a stronger bond with consumers.”

    Below are the key focus areas of Bebelac’s advertisements, revealed by GlobalData’s Global Ads Platform:

    Nutritional innovation: Bebelac’s advertising highlights its commitment to child nutritional innovation through unique product formulations, including Bebelac Gold, Soya, and the prebiotics blend fructo-oligosaccharides (FOS) and galacto-oligosaccharides (GOS), which is beneficial for gut health.

    Child well-being and comfort: The baby formula brand’s advertisements focus on ensuring the well-being of children by promoting products such as Bebelac Gold, which supports digestive health and minimizes fussiness. This messaging provides reassurance to parents, allowing them to feel confident that their children can enjoy nutritious options free from added sugars.

    Holistic development: The advertisement “Rahasia Don Hebat” for product “Bebelac 3” emphasizes both cognitive and social skills and illustrates how the formula supports problem-solving abilities and emotional intelligence, reinforcing the idea that nutrition plays a vital role in a child’s overall development.

    Trust and transparency: The advertising strategy emphasizes trust and transparency by showcasing authentic testimonials and clearly disclosing ingredient information. This approach builds credibility with parents, empowering them to make informed decisions about their children’s nutrition while nurturing brand loyalty and confidence.

    Kishor concludes: “By addressing both the rational and emotional needs of caregivers, the brand effectively positions itself as a trusted partner in a child’s growth journey. This dual-pronged approach not only enhances brand equity but also strengthens consumer engagement in a competitive and highly sensitive market segment.”

    MIL OSI Global Banks –

  • MIL-OSI Security: Man Sentenced in the Death and Injury of 2-Month-Old Twins

    Source: US FBI

    TULSA, Okla. – Michael David Gregory from Commerce, Oklahoma was sentenced today for the death of a two-month-old child who died from severe head and eye injuries that a child abuse pediatrician diagnosed as abusive head trauma. Additionally, Gregory was also sentenced for assault related to brain injuries he caused to another two-month-old child, the twin sister of the first infant, announced U.S. Attorney Clint Johnson.

    U.S. District Judge Sara E. Hill sentenced Gregory, 30, to a total of 240 months imprisonment, followed by three years of supervised release. Judge Hill further ordered Gregory to pay a $200 special monetary assessment.

    According to a charging document, Gregory pleaded guilty to one count of Voluntary Manslaughter in Indian Country and one count of Assault Resulting in Serious Bodily Injury in Indian Country. According to his plea agreement, Gregory was caring for the twin two-month-old infants at an apartment he shared with his girlfriend in Commerce, Oklahoma. While Gregory’s girlfriend was at work, Gregory forcefully picked up and handled the newborn infants. Gregory admitted that his actions caused traumatic and severe brain and eye injuries in both infants, resulting in the death of one child identified as A.M.R.

    Michael David Gregory is not a member of a federally recognized tribe. However, the apartment in which Gregory cared for the twins is located on the Quapaw Nation reservation, and both infants are considered “Indian persons” because they are eligible for membership in the Choctaw Nation. 

    Michael David Gregory was previously released on bond in this case. Judge Hill ordered him to report to a United States Bureau of Prisons facility on July 22, 2025.

    The Commerce Police Department and the Quapaw Nation Marshal Service in conjunction with the Federal Bureau of Investigation investigated the case. Assistant U.S. Attorney Melody Nelson prosecuted the case.

    MIL Security OSI –

  • MIL-OSI USA: Congressman Allen Testifies Before the International Trade Commission in Support of the American LSPTV Industry

    Source: United States House of Representatives – Congressman Rick Allen (R-GA-12)

    Congressman Allen Testifies Before the International Trade Commission in Support of the American LSPTV Industry

    Washington, June 13, 2025

    Yesterday, Congressman Rick W. Allen (GA-12) testified before the United States International Trade Commission (USITC) to urge the Commissioners to take immediate action and hold China accountable for unfair trade practices that are harming U.S. producers in the Low Speed Personal Transportation Vehicles (LSPTV) industry.

    Congressman Allen Testifies Before the ITC A transcript of Congressman Allen’s full testimony can be read below: “Chair Karpel and fellow Commissioners—thank you for allowing me to appear before you today for this important hearing. I’m grateful to be here to support the U.S. low speed personal transportation vehicle industry. The Central Savannah River Area (CSRA), encompassing Georgia and South Carolina, and much of my district, has long been the epicenter of U.S. golf cart manufacturing. We are home to two large producers that deliver electric vehicle models for personal and recreational transportation: Club Car and E-Z-GO. “For as long as I can remember, Club Car and E-Z-GO have been pillars of the Georgia economy, providing thousands of jobs in the state.  Furthermore, they were—and still are—the standard bearers in the golf cart industry.  “Unfortunately, the futures of these two great American companies are at risk due to the massive influx of dumped and subsidized low speed personal transportation vehicles from China. If the U.S. industry is not provided with the trade relief it so desperately needs, hundreds of U.S. manufacturing jobs could be lost. “As you’ll hear in detail from members of the domestic industry today, Chinese imports have severely injured the domestic industry and threaten to put it out of business. The U.S. Department of Commerce recently determined that Chinese-manufactured vehicles are being dumped and subsidized to the tune of between 478% and 515%, respectively. These substantial rates demonstrate the degree to which Chinese imports have undersold U.S.-manufactured vehicles, making it all but impossible to compete. This has led to reduced shifts, reductions in workforce, decreases in production, and a sharp decline in profitability for the domestic industry. “And not only do these unfairly traded Chinese imports harm manufacturers of new vehicles—they also have decimated the market for refurbished U.S.-manufactured vehicles. Refurbished used vehicles were an important part of the U.S. industry, but low-priced imports have wiped out this market segment. U.S. processors of used vehicles have found it all but impossible to sell refurbished used vehicles when new Chinese vehicles are being sold at the same or lower prices. “Over the last year, I have led a bipartisan and bicameral effort to bring more attention to this issue. We have reached out the U.S. Trade Representative and Department of Commerce, highlighting the vast amounts of subsidies provided to Chinese producers and the degree to which subject imports are being dumped. Today, I would like to present a letter to the ITC Chair that is signed by 25 Senators and Representatives advocating for positive outcomes of these cases, which is absolutely critical to the health of the domestic LSPTV industry, a historic and uniquely American manufacturing industry.  “On a level playing field, U.S. companies like Club Car and E-Z-GO can out-innovate and out-compete anyone in the world. However, when foreign companies—with government backing—violate international trade rules and flood the U.S. market with dumped and subsidized products, the playing field is far from even.  Here, dumped and illegally subsidized low speed personal transportation vehicles have undermined the U.S. industry.  “It has taken the Chinese industry less than four years to completely upend the U.S. low speed personal transportation vehicle market. They have infiltrated the market at every level, and if left unchecked, these illegally dumped and subsidized imports will decimate the domestic industry and take away hundreds of U.S. manufacturing jobs. “The domestic industry is not looking for special treatment—just the opportunity to compete on a level playing field.  I respectfully urge you to carefully consider this matter and take appropriate action to enforce U.S. trade remedy laws. Thank you again for the opportunity to testify before you today.”

    BACKGROUND: Last week, Congressman Allen led a bipartisan, bicameral group of his colleagues in sending letters to U.S. Department of Commerce Secretary Howard Lutnick and U.S. International Trade Commission (ITC) Chair Amy Karpel in support of the American low-speed personal transportation vehicle (LSPTV) industry.

    MIL OSI USA News –

  • MIL-OSI USA: Smith Statement on Proposed Volumes for Renewable Fuels Standard

    Source: United States House of Representatives – Congressman Adrian Smith (R-NE)

    Washington, DC — Congressman Adrian Smith (R-NE) released the following statement today after the Environmental Protection Agency (EPA) announced its proposed Renewable Fuel Standard (RFS) volume requirements for 2026 and 2027.

    “Today’s announcement rightfully recognizes the key role biofuels play in American energy security,” Smith said. “If finalized, these volumes will support our agriculture producers, provide much needed certainty to the industry, and ensure consumers have greater access to affordable liquid fuels. I thank Administrator Zeldin and President Trump for their continued support of American biofuels and look forward to working with them to ensure today’s RVOs have the intended effect of promoting American energy production.”

    BACKGROUND:

    Congressman Smith first introduced a bill to approve year-round sale of E15 in 2015.

    On May 16, Smith, Reps. Ashley Hinson (R-IA), and Angie Craig (D-MN) joined 25 colleagues in a letter to the President urging for robust blending requirements in the ongoing RFS rulemaking.

    On April 22, Smith, Craig, Hinson, and Rep. Mark Pocan (D-WI) led 25 members of Congress in a letter urging the administration to lower prices at the pump by providing a summertime E-15 waiver.

    On March 11, Smith led a bipartisan press conference highlighting grassroots support for eliminating restrictions on E15 sales.

    On February 13, Smith and Craig introduced the Nationwide Consumer and Fuel Retailer Choice Act to enable the year-round, nationwide sale of E15. Read more about the bipartisan, bicameral legislation here.

    On February 6, 2025, Smith and Craig led nearly 30 colleagues in sending a bipartisan letter to EPA  Administrator Lee Zeldin. The letter emphasized the important role of the American biofuels industry in maximizing energy abundance and affordability while encouraging the EPA to issue timely and science-driven guidance to fulfill the Renewable Fuels Standard (RFS).

    ###

    MIL OSI USA News –

  • MIL-OSI: Painted Brick Digital Joins ALS Arizona’s Bite Nite as Supporting Sponsor

    Source: GlobeNewswire (MIL-OSI)

    Phoenix, AZ , June 13, 2025 (GLOBE NEWSWIRE) — Painted Brick Digital, a results-driven Phoenix SEO Agency, proudly participated as a supporting sponsor of ALS Arizona’s annual Bite Nite Gala, held on Saturday, June 7, 2025, at Chateau Luxe in North Phoenix. The event shattered previous records, raising over $550,000 to support Arizonans living with ALS.

    ALS Bite Night Theme “Boots & Bites”

    As a local Phoenix Marketing Agency, Painted Brick Digital purchased a sponsorship table and invited community members who contributed additional donations during the evening’s festivities. Guests enjoyed tastings from some of the Valley’s top chefs, a silent auction, and powerful stories from those affected by ALS.

    “It was an honor to be part of the 2025 ALS Bite Nite,” said Adam Truszkowski, founder of Painted Brick Digital. “A truly meaningful cause that helps those in our community who have been affected by this terrible disease, regardless of their background. Though many continue to fight and show that ALS hasn’t broken them, their resilience is nothing short of awe-inspiring.”

    Bite Nite is one of ALS Arizona’s signature fundraising events, and this year’s record-breaking total reflects the strength of the community’s support. Painted Brick Digital’s involvement is part of the agency’s broader commitment to giving back locally, while continuing to help small businesses and eCommerce brands grow nationally through SEO, digital advertising, and conversion-focused marketing strategies.

    For more on Painted Brick Digital’s digital marketing and SEO services, visit Paintedbrickdigital.com.
    To learn more about ALS Arizona or contribute to their mission, visit ALSAZ.org.

    A look from our table.

    About Painted Brick Digital

    **PBD – Award-Winning Scottsdale Marketing Agency** At Painted Brick Digital, we specialize in crafting bespoke digital marketing strategies that drive results. Our award-winning team in Scottsdale excels in SEO, website development, media buying, and more. We blend creativity with data-driven insights to help businesses grow and thrive in the digital landscape. Discover the Painted Brick Digital difference and elevate your brand to new heights.

    Press inquiries

    Painted Brick Digital
    https://paintedbrickdigital.com/
    Adam Truszkowski
    paintedbrickdigital@gmail.com

    The MIL Network –

  • MIL-OSI Canada: Financial and Consumer Affairs Authority Recognizes World Elder Abuse Awareness Day on June 15

    Source: Government of Canada regional news

    Released on June 13, 2025

    June 15 is World Elder Abuse Awareness Day, and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is encouraging all Saskatchewan residents to consider naming a Trusted Contact Person (TCP) and providing it to your registered financial advisor. This can help protect their financial assets in the future. 

    “A health crisis can happen at any time, leaving a person vulnerable to financial exploitation or issues that might affect their capacity to make financial decisions,” FCAA Executive Director of Securities Dean Murrison said. “Naming a Trusted Contact Person can provide you with peace of mind knowing your registered financial advisor has someone you trust that they can contact if required.”

    A TCP is someone you authorize your registered financial advisor to contact in certain circumstances. It lets your registered financial advisor know who you trust and who they have permission to contact if required.

    If you have a TCP, your registered financial advisor may need to contact them if: 

    • they are having difficulty contacting you; 
    • they are concerned you are vulnerable and being financially exploited;
    • you have a health issue and they need to confirm your wellbeing; or
    • they need confirmation of your legal representative(s).

    A TCP should be someone you trust and someone who is capable of handling difficult conversations about your personal situation. Consider choosing someone who:

    • will protect your interests;
    • will be comfortable talking to your registered financial advisor;
    • knows you well enough to notice changes in your personal situation;
    • is familiar with your support network;
    • agrees to take on the role; and
    • is typically not involved in your financial decisions, and preferably, is not your Financial Power of Attorney. 

    More information about naming a TCP can be found on the FCAA website at:
    https://fcaa.gov.sk.ca/consumers-investors-pension-plan-members/investors/financial-literacy/seniors/senior-financial-abuse/trusted-contact-person-tcp.

    If a senior has faced financial exploitation or if fraud has occurred, contact local police, the Canadian Anti-Fraud Centre and the Securities Division of the FCAA at 306-787-5645 or fcaa@gov.sk.ca.

    For more information about senior financial abuse and tips for family members and caregivers visit:
    https://fcaa.gov.sk.ca/consumers-investors-pension-plan-members/investors/financial-literacy/seniors/senior-financial-abuse.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: The FCAA Warns Saskatchewan Residents of Scams Targeting Wildfire Evacuees

    Source: Government of Canada regional news

    Released on June 13, 2025

    The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is warning residents of scams that are targeting wildfire evacuees. The messages claim to be from the Canadian Red Cross and request personal and banking information in order to process payments.

    The Canadian Red Cross has issued a fraud alert regarding Manitoba and Saskatchewan wildfires advising that individuals eligible for financial assistance will NOT need to provide their social insurance number, bank account information or credit card number during their registration to receive assistance. 

    In light of this recent scam, the FCAA encourages all Saskatchewan residents to be mindful if you are contacted by a charitable organization requesting personal or banking information. 

    Scam red flags (email, phone and text)

    • Emails coming from a domain that does not match the company.
    • Unsolicited calls or texts from unknown numbers.
    • Messages with spelling or grammar errors.
    • Requests for personal or banking information.
    • Pressure to act quickly. 
    • Too-good- to-be-true offers. 
    • Suspicious links and attachments. 
    • If you are unable to confirm the organization’s registration or licence.

    Tips to protect yourself from scams 

    • Do not answer or engage with unsolicited messages. 
    • Do not click on any links or attachments.
    • Never share personal information (SIN, bank account, credit card) through email, phone or text.
    • If you suspect you have received a scam email, phone call or text, contact your local police or the Canadian Anti-Fraud Centre immediately.

    The FCAA licenses for-profit charitable fund-raising businesses acting on behalf of a registered charity. Click here to check the charitable fundraising businesses licensed through the FCAA. Charities acting on their own behalf, including the Canadian Red Cross, are registered with the Canada Revenue Agency (CRA). Click here to check the charities registered with the CRA.

    For more information about donating to a charity, visit the FCAA’s website at https://fcaa.gov.sk.ca/consumers-investors-pension-plan-members/consumers/donating-to-charity.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Economics: Major banks set industry milestone with endorsement of ICC’s Principles for Sustainable Trade Finance

    Source: International Chamber of Commerce

    Headline: Major banks set industry milestone with endorsement of ICC’s Principles for Sustainable Trade Finance

    A group of leading Trade Finance banks have today announced their endorsement of the International Chamber of Commerce’s (ICC) Principles for Sustainable Trade Finance (ICC PSTF). This group, and further supporting banks, collectively represent as much as 25% of the global trade finance market by volume.

    The work, led by ICC, with support from Boston Consulting Group (BCG) and newly announced endorsement by Commerzbank, ING, Santander, and Standard Chartered aims to provide clear, transparent, and consistent guidelines to enable banks, corporates and investors to effectively channel capital towards sustainable and inclusive trade finance facilities.

    Unlike for many other financial products, trade finance practitioners have historically not had a clear, consistent and consensus definition on what constitutes sustainable trade finance, limiting its application. The principles, launched in October 2024, therefore provide a robust methodology for evaluating sustainable trade finance transactions, including a globally acceptable approach for assessing use-of-proceeds in trade finance transactions, proposed due diligence protocols for sustainability verification and unified reporting standards to ensure consistency across financial institutions.

    As a next step, with support of these banks, ICC plans to further build on the principles including defining legal terms and extending its coverage to social sustainability, while also working with the broader trade ecosystem – including banks, corporates and regulators – to expand further endorsement. ICC welcomes any users who also wish to endorse the PSTF to an additional endorsement announcement in circa Q3 2025.

    “We welcome the endorsement of the ICC Principles for Sustainable Trade Finance by four leading banks. This is a strong signal of market alignment behind a common framework to scale sustainable trade finance in a practical, credible and commercially viable way. We look forward to more banks endorsing the ICC principles ahead of COP30 in November – sending a clear signal that trade is a core part of the solution to climate change.”

    Philippe Varin, ICC Chair

    Raelene Martin, Head of Sustainability at ICC, added:
    “We are thrilled to welcome the banks’ endorsement of ICC’s Principles for Sustainable Trade Finance, which marks an important step in aligning the industry around common methodology for the assessment of sustainable trade finance. We are thankful for their tremendous support in providing thought leadership and guidance that is fit for purpose for industry globally. We believe that the ICC Principles for Sustainable Trade Finance present an important milestone in embedding sustainability at the heart of global trade in a practical and robust way.”

    The first ICC member banks to endorse the ICC principles shared their initial thoughts:

    “At Santander CIB, we are committed to empowering our clients with innovative trade and working capital solutions aligned to their sustainability goals that promote resilience across global supply chains. To that end, we are happy to endorse the ICC principles, a landmark initiative in sustainable trade finance, and to continue to pave the way for more original solutions that deliver positive financial and sustainable impacts to businesses everywhere.”

    — Pablo Ballesteros, Head of GTB Cross Solutions at Santander CIB

    “Standard Chartered introduced its sustainable trade finance proposition in 2021 and as a pioneering advocate for sustainable trade finance standards across the industry, we are pleased to adopt ICC’s principles. We are committed to offering our clients innovative solutions that empower them to achieve their sustainability goals while effectively managing associated risks. We applaud ICC for leading the way in setting the international guidelines for the industry and we look forward to continuing our partnership with them to shape the future of sustainable trade finance globally.”

    — Sofia Hammoucha, Global Head of Trade & Working Capital at Standard Chartered.

    “Commerzbank, as a leading bank for foreign trade particularly for Germany and Europe, welcomes the publication of ICC’s Principles for Sustainable Trade Finance and actively contributed to them. They are suitable for establishing a consistent approach among international market participants and are referenced in our ESG framework.”
    — Sven O. Schmidt, Head of International Trade Finance Operations, Commerzbank AG

    “ING is proud to have contributed to ICC’s new Principles for Sustainable Trade Finance, which set a clear and actionable framework specifically tailored for the unique nature of trade finance transactions. These principles align with ING’s commitment to supporting clients in their transition to a more sustainable and resilient ecosystem. We will actively support further development of the framework into Social Trade Principles and further guidance for Sustainability Linked Supply Chain Finance.”

    — Anthony van Vliet, Head of Product Management Trade – Transaction Services – ING Wholesale Banking

    “Accelerating sustainable trade is a critical enabler in decarbonising some of the world’s most complex supply chains. Unlike for many other financial products, trade finance practitioners have not historically had a clear, consistent, and consensus definition on what constitutes sustainable trade finance, limiting its application. The formal recognition and endorsement of ICC’s Principles for Sustainable Trade Finance by leading global financial institutions is a huge step forward on this journey.”

    — Ravi Hanspal, Partner, Boston Consulting Group

    Boston Consulting Group (BCG) is a long-term strategic partner of ICC, co-leading ICC’s Sustainable Trade programme since its inception, including the working group that developed the most recent Principles for Sustainable Trade Finance.

    Read more about the ICC Principles for Sustainable Trade Finance, and ICC’s broader work on sustainable trade

    MIL OSI Economics –

  • MIL-OSI Video: Fisheries Subsidies: Panama’s acceptance

    Source: World Trade Organization – WTO (video statements)

    On 12 June, WTO Director-General Ngozi Okonjo-Iweala received Panama’s instrument of acceptance of the Agreement on Fisheries Subsidies from Julio Moltó, Minister of Commerce and Industry. Just nine more acceptances are needed for the Agreement to enter into force.

    Download this video from the WTO website:
    https://www.wto.org/english/res_e/webcas_e/webcas_e.htm

    https://www.youtube.com/watch?v=mevSKvs7ots

    MIL OSI Video –

  • MIL-OSI: Small Capital, Big Profits – Double Your Deposit, 100x Leverage, No KYC on BexBack

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, June 13, 2025 (GLOBE NEWSWIRE) — As Bitcoin recently broke the $100,000 barrier and established a solid position above it, many analysts are confirming that the long-awaited crypto bull market has officially returned. With heightened market volatility on the horizon, savvy investors are seeking the best tools to maximize their profits. BexBack, a leading crypto futures platform, is stepping up to the challenge by offering 100x leverage, no KYC, and a 100% deposit bonus to help traders make the most of this bullish market phase.

    How Can Smaller Capital Lead to Larger Profits? The Power of 100x Leverage

    In a volatile market like this, where every price movement counts, 100x leverage allows you to amplify your potential profits exponentially with a relatively small amount of capital. Here’s how it works:

    • Maximized Trading Power: Leverage allows you to open positions much larger than your initial deposit. For example, with 1 BTC at $100,000 and 100x leverage, you can control 100 BTC.
    • Small Price Movements, Big Profits: If Bitcoin moves from $100,000 to $110,000, a 100x leveraged position could yield a 1000% return, turning a small change in price into a significant profit.
    • Low Capital, High Return: Whether you’re new to trading or a seasoned investor, leverage gives you the ability to control much larger positions, amplifying your potential gains, all with a smaller initial deposit.

    However, with leverage comes responsibility. While high leverage can lead to impressive returns, it also magnifies risks, so it’s important to manage positions carefully.

    What Is the Double Deposit Bonus and How Does It Work?

    To further enhance trading opportunities, BexBack is offering a 100% deposit bonus to all users. This means if you deposit funds into your BexBack account, you’ll receive an additional bonus of equal value to your deposit.

    For example, if you deposit 2 BTC, you will receive an additional 2 BTC as a bonus, effectively doubling your available trading funds. While the bonus itself cannot be withdrawn directly, it can be used as margin, allowing you to control larger positions and making liquidation more difficult. Moreover, any profits earned from trading with the bonus can be fully withdrawn.

    The bonus acts as an extra margin, helping you manage trades in a volatile market. It’s an excellent way to start trading with more capital, increasing your chances of success without taking on more risk than you’re comfortable with.

    Why Choose BexBack for Crypto Futures Trading?

    BexBack stands out for several reasons that make it an ideal platform for crypto futures trading:

    • 100x Leverage: Maximize your potential profits with up to 100x leverage, a powerful tool to amplify your trading capital.
    • No KYC: Enjoy the freedom of trading without identity verification, keeping your privacy intact and making registration quick and easy.
    • Zero Slippage and Spread: BexBack offers zero spread, meaning you get the best price execution for your trades, without slippage.
    • Global Access and 24/7 Support: BexBack is available to users in various countries, including the US, Canada, and Europe, offering round-the-clock support.
    • Demo Account: A great feature for beginners, BexBack offers a demo account with virtual funds, allowing new users to practice risk-free trading.
    • Lucrative Affiliate Program: Earn up to 50% in commissions by referring new users to the platform.
    • High Liquidity: BexBack ensures a seamless trading experience with high liquidity across all major trading pairs.

    About BexBack

    Founded in Singapore, BexBack is a cutting-edge cryptocurrency derivatives platform offering futures contracts on over 50 digital assets, including Bitcoin, Ethereum, Solana, Cardano, and XRP. BexBack is licensed under the US MSB (Money Services Business) regulations and is trusted by more than 500,000 global traders. With no deposit fees, no KYC, and a user-friendly interface, BexBack is designed to offer traders flexibility, security, and a seamless trading experience.

    Take Action Now—Don’t Miss the Opportunity to Maximize Your Crypto Profits

    The crypto bull market is in full force, and BexBack is here to help you capture every opportunity. With 100x leverage, a 100% deposit bonus, and no KYC, there has never been a better time to trade.

    Sign up now on BexBack and claim your exclusive bonus to start trading today! Seize the potential of this bull market and enjoy faster wealth accumulation with BexBack’s cutting-edge trading tools.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack . The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:
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    The MIL Network –

  • MIL-OSI China: China-Africa trade shifting toward more diversified, high value-added model

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

    CHANGSHA, June 13 — China-Africa trade is undergoing a profound transformation from a traditional resource-based model to one that is more diversified, high value-added and technology-intensive, according to a document released Friday at the ongoing China-Africa Economic and Trade Expo.

    The Blue Book of China-Africa Economic and Trade Cooperation: Development Report (2025) highlights expanding cooperation in sectors such as industry, agriculture, telecommunications, digital economy, new infrastructure, green energy and financial services.

    Agricultural trade between China and Africa is transitioning from raw material exports to processed goods, cooperation in digital and technology-related services is gaining traction, and cross-border e-commerce is playing a growing role alongside traditional trade channels, said the document.

    These developments are driven by Africa’s push for industrialization, China’s economic upgrading, and the continued influence of the Belt and Road Initiative, it said.

    Infrastructure cooperation has expanded steadily, with projects covering sectors such as transport, energy and communications. Broader partnerships have also formed in education, agriculture, healthcare and green development, supported by maturing policy frameworks, trade pacts and financing tools, it said.

    The document, jointly released by organizations including the China-Africa Economic and Trade Promotion Council, the Department of Commerce of Hunan Province, and the China Economic Information Service, made use of both public data and field research.

    It features a specific annual theme that reflects key developments and challenges in China-Africa trade, and aims to provide actionable recommendations for future cooperation.

    The fourth China-Africa Economic and Trade Expo is being held in Changsha, capital of central China’s Hunan Province. Nearly 4,700 Chinese and African companies as well as over 30,000 participants are attending the four-day event, themed “China and Africa: Together Toward Modernization.”

    Economic and trade cooperation between China and Africa has demonstrated strong vitality, with a rapid increase in trade value over the past 25 years, official data showed.

    China’s total trade with African countries increased from less than 100 billion yuan (about 13.9 billion U.S. dollars) in 2000 to 2.1 trillion yuan in 2024, marking an average annual growth of 14.2 percent, according to the General Administration of Customs.

    China and Africa, as the largest developing country and the continent with the highest concentration of developing countries, respectively, are jointly exploring new frontiers in South-South cooperation, said Xu Xiangping, head of the China-Africa Economic and Trade Promotion Council.

    Xu added that China-Africa trade has repeatedly reached new levels, with notable developments including expansion in scale, structural upgrades and growing investment across industrial chains and emerging sectors.

    MIL OSI China News –

  • MIL-OSI USA: Belmont Stakes Racing Festival Returning to Saratoga

    Source: US State of New York

    overnor Kathy Hochul and the New York Racing Association, Inc. (NYRA) today announced that the Belmont Stakes Racing Festival will return to historic Saratoga Race Course in June 2026 for a third and final year to allow for the on-time and uninterrupted construction of a new Belmont Park in Elmont, N.Y.

    “New York is home to world class sports and entertainment and this final chapter of the Belmont Stakes at Saratoga Race Course honors our rich racing heritage while paving the way for a bold, new future at Belmont Park,” Governor Hochul said. “Bringing the race back to Saratoga next year will once again expand the audience for this storied leg of the Triple Crown and ensure fans continue to enjoy the full experience.”

    The announcement follows the recently concluded 2025 Belmont Stakes Racing Festival which was highlighted by Sovereignty’s victory in Saturday’s 157th running of the Grade 1, $2 million Belmont Stakes presented by NYRA Bets.

    The reimagined Belmont Park remains on schedule to open to the public in September 2026. While NYRA had previously left open the possibility of hosting a Belmont Stakes in a partially completed facility with a limited number of fans, the decision to return to Saratoga Race Course for the 2026 Belmont Stakes Racing Festival will allow the event to be unhindered by various restrictions made necessary by ongoing construction.

    New York Racing Association President and CEO Dave O’Rourke said, “Saratoga has served our fans and stakeholders extremely well as the temporary home of the Belmont Stakes during the construction of a new Belmont Park on Long Island. As we prepare for the opening of the new Belmont Park in the fall of 2026, NYRA is pleased to bring the Belmont Stakes to Saratoga for a third and final time next June. Belmont Park will always be the home of the Belmont Stakes and we look forward to its return to the newly reimagined Belmont in 2027.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “Bringing the Belmont Stakes Festival to Saratoga Race Course the past two years has introduced new audiences and new visitors to Saratoga Springs and its surrounding communities, which supports our local small businesses and the Upstate tourism economy. By granting Saratoga a third opportunity to host the third leg of racing’s Triple Crown, even more fans will be inspired by this unique circumstance and plan a trip to experience the excitement, the history and the pageantry firsthand.”

    State Senator Joseph P. Addabbo, Jr. said, “The decision to once again bring the Belmont Stakes Racing Festival to Saratoga in 2026 demonstrates a strong commitment to both preserving tradition and ensuring the successful modernization of Belmont Park. This transition period has enabled top-notch racing to continue while providing an economic boom for Saratoga and enhancing the experience for horse racing fans. I look forward to the grand reopening of a state-of-the-art Belmond Park in 2027 and the continued economic and social impact these premier racing events bring to our state.”

    Assemblymember Carrie Woerner said, “Saratoga Springs and Saratoga Race Course hosted two successful Belmont Stakes Racing Festivals and we are thrilled to be hosting the exciting third leg of the Triple Crown again. Once the reimagined Belmont Park opens, New York will be home to the most state-of-the-art and the most historical Thoroughbred racetracks in the country. I am already looking forward to next year and the bright future of this heritage sport in our state.”

    Chairman of the Saratoga County Board of Supervisors and Town of Clifton Park Supervisor Phil Barrett said, “Saratoga County has proudly partnered with many organizations to support events coinciding with the Belmont Stakes. We have been proud to host the Belmont and the event has drawn people to our county, providing the opportunity to showcase our recreational, cultural, and historical attractions. We will begin planning for 2026 with NYRA and partner organizations to deliver the best possible experience!”

    City of Saratoga Springs Mayor John Safford said, “It has been an honor and a privilege for Saratoga Springs to host The Belmont over the past two years. The exceptional collaboration between NYRA, the Chamber, Discover Saratoga, and other dedicated community partners has created a memorable experience for all who visited our city. We are excited to continue these strong partnerships and welcome an additional year of the Belmont in Saratoga for 2026.”

    Saratoga County Chamber of Commerce President Todd Shimkus said, “It’s been an honor for the local and regional community to help serve as stewards for the Belmont Stakes during the construction of the new Belmont Park, and we are excited to do so for one final year. The Chamber and our partners are already working on plans for a third Belmont on Broadway kick-off concert in 2026 to support the Belmont Stakes Racing Festival.”

    Saratoga Economic Development Corporation President Greg Connors said, “In Saratoga County, we couldn’t be more grateful and appreciative to both the Governor and NYRA for bringing back to Saratoga in 2026 the Belmont Stakes Racing Festival. The substantial economic impact on not only Saratoga but the Capital Region is significant. Historically, the traditional Saratoga meet contributes an estimated $9M dollars per day to the local economy. And, with our partners in government, business and community development sectors, we have worked as a team, for the last 2 years, to showcase our community to the world and the world class thoroughbred racing industry, that Saratoga County and the City of Saratoga Springs is capable and ready to handle such a historic horse racing event of national and international interest. For one last time in 2026, Saratoga County is excited to welcome the world back to the Belmont Stakes Racing Festival at the Saratoga Race Course.”

    Discover Saratoga President Darryl Leggieri said, “We are absolutely thrilled to welcome the Belmont Stakes Racing Festival back to Saratoga in 2026 for the third consecutive year. Hosting this iconic event is not only a tremendous honor—it’s a testament to Saratoga County’s ability to safely and successfully accommodate major events on a national scale. The Belmont Stakes brings a remarkable boost to our local economy and provides incredible exposure for our community, our small businesses, and the world-class hospitality that defines Saratoga. We’re grateful to Governor Hochul and the New York Racing Association for their continued confidence in Saratoga as a premier destination for racing and tourism.”

    The 2026 Belmont Stakes presented by NYRA Bets will be held Saturday, June 6. The race will once again be contested at 1.25 miles in 2026, rather than the traditional 1.5 miles due to the configuration of Saratoga’s main track.

    In the coming weeks, Saratoga Race Course will serve as the home to a special July 4th Racing Festival which is traditionally held at Belmont Park. The four-day event will take place Thursday, July 3 to Sunday, July 6 and will serve as a prelude to the traditional 40-day Saratoga summer meet which gets underway on Thursday, July 10 and will continue through Labor Day, Monday, September 1. New York State and the NYRA are currently redeveloping Belmont Park, with a $455 million capital construction project transforming the facility into a world-class racing and entertainment destination.

    Last month, Governor Hochul announced Belmont Park will host the Breeders’ Cup in 2027 for the first time in twenty years. It will be the fifth time New York will host the Breeders’ Cup after hosting in 1990, 1995, 2001, and 2005. The Breeders’ Cup at Belmont Park will be held Oct. 29-30, 2027. All race dates are pending approval by the New York State Gaming Commission. For more information, visit belmontstakes.com.

    About the New York Racing Association, Inc.

    NYRA is a not-for-profit corporation franchised by New York State to conduct thoroughbred racing at Aqueduct Racetrack, Belmont Park and Saratoga Race Course. NYRA tracks are the cornerstone of New York State’s horse racing economy, which is responsible for 19,000 jobs and more than $3 billion in annual statewide economic impact.

    MIL OSI USA News –

  • MIL-OSI Africa: Orange Becomes the Strategic Partner of the Agence Française de Développement (AFD) Group for digital initiatives

    Source: Africa Press Organisation – English (2) – Report:

    • The Orange group and the Agence Française de Développement (AFD) Group announce the signing of a framework agreement at VivaTech 2025 making Orange the reference partner in digital matters.
    • This unprecedented agreement with a telecom operator aims to strengthen cooperation between the two groups to improve access to digital services, support innovation and accelerate environmental transition in their common areas of intervention.

    Christel Heydemann, CEO of Orange (www.Orange.com), Rémy Rioux, CEO of AFD Group, and Françoise Lombard, CEO of Proparco, signed an innovative partnership agreement to jointly accelerate digital inclusion and sustainable digital development. The three-year agreement provides a structured framework for cooperation on expertise and the emergence of joint projects internationally. It covers 17 countries in the Africa-Middle East region where Orange is present, as well as Moldova and French overseas departments. Priority themes include:

    • Digital inclusion of populations through the deployment of strategic infrastructure (ex. backbone equipment of very high-speed networks and submarine cables);
    • Financial and energy inclusion, and access to e-services (agriculture, health, education), especially in rural areas;
    • Reduction of the environmental footprint of digital technology;
    • Training and professional integration through digital tools;
    • Support for innovation and entrepreneurship;
    • Forward-looking discussions on ethical data use, security and artificial intelligence for development.

    As a multi-service operator and key partner in the digital transformation of the Africa-Middle East region, Orange has already opened 16 Orange Digital Centers and 32 Orange Digital Center Clubs in partnership with universities. These are free and accessible to all, and are designed to promote digital inclusion among youth and foster entrepreneurship.

    AFD Group supports public authorities, businesses, civil society and innovative ecosystems in their transition toward a more open, accessible and responsible digital world. It works alongside its partners to leverage digital solutions to achieve their Sustainable Development Goals (SDGs).

    On the basis of this experience, Orange and AFD Group have worked together for over 20 years on various projects, such as supporting the deployment of fixed and mobile telecom networks for Orange subsidiaries in Jordan and Senegal, training youth in digital tools through Orange Foundations in Côte d’Ivoire, Guinea, Madagascar and Tunisia, and supporting coding training programs at Orange Digital Centers in Jordan.

    This new partnership will strengthen the synergies and increase the dissemination of best practices and innovations in the digital sector. It reflects a renewed ambition aimed at striving towards digital equality and SDG achievement through innovative solutions and collaborative initiatives.

    On signing the agreement, Christel Heydemann, CEO of Orange, stated:“This strategic partnership with AFD Group marks an important milestone in our collaboration. I look forward to continuing this dynamic of international cooperation for a more inclusive and sustainable digital future, reinforcing Orange’s commitment to expanding access to digital technology everywhere we operate. “

    Rémy Rioux, CEO of AFD Group, said: “AFD Group believes that digital technology is a powerful lever for transforming a diverse range of sectors, including public services, education, health and entrepreneurship. This first strategic partnership with Orange exemplifies this shared ambition to support the emergence of sovereign digital services at a local level by investing in solutions that are innovative, open and responsible.”

    Françoise Lombard, CEO of Proparco, added: “Proparco, AFD Group’s subsidiary dedicated to the private sector, is fully committed to strengthening its partnership with Orange, both strategically and operationally. By combining our networks, expertise and resources, we are working with determination to improve digital access for all in France and emerging countries.”

    – on behalf of Orange Middle East and Africa.

    Press contacts:
    Flaminia le Maignan: flaminia.lemaignan@orange.com
    Service presse AFD: _afdpresse@afd.fr

    Follow us on:
    X: @ orangegrouppr (https://apo-opa.co/4jKVTnh)

    About Orange:
    Orange is one of the world’s leading telecommunications operators with revenues of 40.3 billion euros in 2024 and 125,800 employees worldwide at 31 March 2025, including 69,700 employees in France. The Group has a total customer base of 294 million customers worldwide at 31 March 2025, including 256 million mobile customers and 22 million fixed broadband customers. These figures account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present in 26 countries (including non-consolidated countries).

    Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan “Lead the Future”, built on a new business model and guided by responsibility and efficiency. “Lead the Future” capitalizes on network excellence to reinforce Orange’s leadership in service quality.

    Orange is listed on Euronext Paris (symbol ORA).

    For more information on the internet and on your mobile: www.Orange.com, www.Orange-Business.com and the Orange News app. 

    Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.

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    MIL OSI Africa –

  • MIL-OSI Africa: Deputy President to undertake working visit to Russia

    Source: South Africa News Agency

    Strengthening economic and trade relations will be at the core of Deputy President Paul Mashatile’s working visit to Russia.

    According to the Deputy President’s Office, the trip will focus on enhancing cooperation in key sectors, including agriculture, automotive, energy, and mining, as well as collaboration in science and technology.

    The working visit set for 17-21 June in Moscow and St. Petersburg, will involve high-level engagements and activities focused on economic diplomacy.

    In Moscow, Deputy President Mashatile will meet with Prime Minister Mikhail Mishustin to discuss cooperation in the areas of economy, trade, and energy.

    The Deputy President will meet with several high-ranking officials, including President Vladimir Putin, Valentina Matvienko, the Chairman of the Russian Federation Council, and Vyacheslav Volodin, the current Chairman of the State Duma, which is the lower house of the Russian Parliament.

    While in Moscow, the Deputy President will lay a wreath at the memorial site honouring South Africa’s liberation heroes, 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 to 21 June,  under the theme: “Shared Values: The Foundation of Growth in a Multipolar World.”

    The Deputy President will take part in the plenary session of SPIEF2025 while he 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 address attendees at the opening of the South African Trade and Investment Seminar.

    “The St. Petersburg leg of the visit is expected to leverage on promoting South Africa’s trade relations and South Africa as an investment destination.” 

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

    He will be accompanied by a delegation of Ministers and Deputy Ministers who are part of the Economic Sectors, Investment, Employment and Infrastructure Development Cabinet Cluster. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: Christopher Hui visits Norway

    Source: Hong Kong Information Services

    Secretary for Financial Services & the Treasury Christopher Hui said during his visit to Oslo, Norway, on June 11 and 12 that Hong Kong and Norway could create a powerful synergy to address global challenges with regards to climate change and digital transformation, leveraging the complementary strengths of the two places.

    He was also pleased to note that after a meeting with the Norwegian Ministry of Finance, positive progress was made with the early signing of a comprehensive avoidance of double taxation agreement (CDTA) between Hong Kong and Norway.

    At a meeting with Norwegian State Secretary of the Ministry of Finance Torgeir Micaelsen and Director General of Tax Law Department Omar G Dajani on June 12, Mr Hui called for an early signing of a CDTA between the two places.

    Mr Micaelsen responded positively and indicated that they will look into the matter to expedite the process.

    The treasury chief also told the gathering that Hong Kong had just been confirmed by the International Financial Reporting Standards Foundation as being among the initial set of jurisdictions having set a target of fully adopting the ISSB Standards, affirming Hong Kong’s efforts and determination in supporting and promoting a common international language in sustainability disclosures.

    To unlock new opportunities in the area of maritime finance, Mr Hui visited Norwegian marine and energy insurance provider Gard, which has a strong presence in Hong Kong’s marine insurance market and provides services to manage maritime risk for clients, by meeting its Chief Customer Officer Line Dahle as well as Vice President and Head of Analytics Sigvald Fossum.

    He also met Vice-President and Director of Group Government and Public Affairs of DNV Lars Almklov. The global assurance and risk management company DNV has been recognised by the Hong Kong Monetary Authority as an approved external reviewer for the Green & Sustainable Finance Grant Scheme.

    Mr Hui told the management of the two companies that Hong Kong and Norway possess complementary strengths that can create a compelling case for financial co-operation. While Norway’s maritime industry is the cornerstone of its economy, Hong Kong’s maritime services industry is also a valued brand in the international arena.

    Joint ventures in maritime insurance could combine Norway’s expertise in marine risk management with Hong Kong’s accessibility, creating comprehensive solutions for the sector and addressing the new demands arising from geopolitical and climatic challenges.

    He highlighted that Hong Kong has a sophisticated ecosystem for ship financing and leasing, supported by tax incentives and its strategic location along global trade routes.

    On June 12, Mr Hui paid a courtesy call to Chinese Ambassador Extraordinary & Plenipotentiary to the Kingdom of Norway Hou Yue.

    He also had a meeting with Director of Politics & Society of Finance Norway Jan Erik Fane. Finance Norway is the industry organisation for the financial sector in Norway, representing banks, insurance companies and other financial institutions on regulatory, policy and industry developments.

    Mr Hui noted that the Norwegian sovereign fund is one of the largest funds in the world and is positioned as a pioneer in responsible investing with a strong emphasis on environmental, social and governance principles.

    He said that the shared focus of Hong Kong and Norway on sustainability creates significant opportunities for collaboration.

    At a dinner reception co-organised by the Hong Kong Economic & Trade Office, London, and the Norway-Hong Kong Chamber of Commerce on June 11, Mr Hui said that even though there is a geographical distance of around 8,600 km between Norway and Hong Kong, the two places share more commonalities in the financial market than perceived.

    The first one is the commitment to green and sustainable developments. The other commonality is expertise in wealth management.

    Mr Hui noted that Norway’s expertise in long-term asset management driven by its sovereign fund aligns seamlessly with Hong Kong’s position as Asia’s premier wealth management centre.

    Capitalising on Hong Kong’s advantages of having a solid financial infrastructure and an extensive international client base, abundant co-investment opportunities are available for Norwegian capital in the Asian markets, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area.

    Mr Hui returned to Hong Kong this evening.

    MIL OSI Asia Pacific News –

  • MIL-OSI Global: Supreme Court ignores precedent instead of overruling it in allowing president to fire officials whom Congress tried to make independent

    Source: The Conversation – USA – By Claire B. Wofford, Associate Professor of Political Science, College of Charleston

    Can President Donald Trump — or any president — fire the heads of independent agencies created by Congress? Douglas Rissing/iStock via Getty Images Plus

    What may be one of the U.S. Supreme Court’s most important and far-reaching rulings in decades dropped in late May 2025 in an order that probably didn’t get a second – or even first – glance from most Americans.

    But this not-quite-two-page ruling, as technical and procedural as they come, potentially rewrites a major principle of constitutional law and may restructure the operation of the federal government.

    The case is dry in a way only lawyers could love, but its implications are enormous.

    Public mission, not presidential whims

    The dispute began when President Donald Trump fired two Biden-era officials: Gwynne Wilcox, a member of the National Labor Relations Board, and Cathy Harris, a member of the Merit Systems Protection Board.

    The National Labor Relations Board and the Merit Systems Protection Board, like the National Transportation Safety Board and the Federal Reserve, are among more than 50 independent agencies established by Congress to help the president carry out the law. Though technically located within the executive branch, independent agencies are designed to serve the public at large rather than the president.

    The dispute began when President Donald Trump fired board members of two independent agencies.
    Win McNamee/Getty Images

    To ensure these agencies are devoted to their public mission, not the will or whims of a president, congressional statutes generally permit the president to remove leaders of these agencies only for “good cause.” Malfeasance in office, neglect of duty, or inefficiency generally constitute “good cause.”

    Other executive branch agencies, such as the FBI, Food and Drug Administration and Department of Homeland Security are entirely under presidential command – if he wants their leaders out, out they go. But independent agencies, in existence since the late 19th century, are to carry out congressional policy free from the president’s purview and his political pressure.

    Because independent agencies are creatures of Congress housed within the executive branch, there is long-standing disagreement among scholars about just how much power the president should have over them.

    Limiting Congress, empowering the president

    In the two firings, there was agreement that Trump had violated the relevant statute by firing Wilcox and Harris without “good cause.”

    He justified Wilcox’s removal, in part, because she did not share his policy preferences. For Harris, he gave no reason at all.

    But the bigger issue was whether the law itself was constitutional: Could Congress limit why or how a president can remove employees of the executive branch?

    The root of the problem lies within the Constitution. Although Article 2 specifically gives the president the power to “appoint” certain federal officials, it says nothing about the power to fire -– or “remove” – them.

    Conservative legal scholars propose, under what’s called the “unitary executive theory,” that because the president “is” the executive branch, he has complete authority, including removal, over all who serve within it. Only with the unfettered ability to fire anyone who serves under him can the president fulfill his constitutionally mandated duty to ensure that “the Laws be faithfully executed.”

    Opponents have countered that this ignores fundamental aspects of our constitutional framework: the framers’ devotion to checks and balances, their aversion toward monarchical, kinglike rule, and their determination to put policymaking in the hands of Congress.

    These questions are not new.

    The Supreme Court first took up the issue in 1926 in Myers v. United States, when Chief Justice – and former president – William Howard Taft held that Congress could not limit the president’s ability to fire an Oregon postmaster, writing that “the power to remove inferior executive officers … is an incident of the power to appoint them.”

    Less than a decade later, however, the court ruled in Humphrey’s Executor v. United States that the Constitution did not grant the president an “illimitable power of removal,” at least over certain types of officials. This included the head of the Federal Trade Commission, whose firing by President Franklin Roosevelt had sparked the case.

    Humphrey’s Executor stood basically untouched for decades, until Justices John Roberts and Samuel Alito – both of whom had previously served in the executive branch – were appointed.

    With a now-solid conservative majority, the Supreme Court invalidated restrictions on the president’s ability to remove members of the Public Company Accounting Oversight Board in 2009.

    Two years after the arrival of fellow executive branch alumnus Brett Kavanaugh in 2018, the court struck down the “good cause” removal restriction for the head of the Consumer Financial Protection Bureau.

    Rather than explicitly overrule Humphrey’s Executor, however, the justices declared that these agencies were factually distinct from the Federal Trade Commission – leaders of one were protected by a “two-layer” removal system and the other because it was run by a single individual, not a multimember board.

    ‘Massive change in the law’

    Because Humphrey’s Executor was still good law, and the National Labor Relations Board and the Merit Systems Protection Board were structured like the Federal Trade Commission, district courts in 2025 initially held that the firings of Wilcox and Harris were unlawful.

    On April 9, 2025, Trump filed an emergency appeal with the Supreme Court, asking it to put the district court decisions on hold. On May 22, the Supreme Court granted that request, at least while the cases proceed through the lower courts.

    The court did not decide on the constitutionality of the removal statute, but the ruling is nonetheless a major victory for Trump. He can now fire not only Wilcox and Harris but also potentially the heads of any independent agency. Low-level civil servants may also be at risk.

    In the unsigned order, the high court echoed unitary executive theory, stating, “Because the Constitution vests the executive power in the Presidents … he may remove without cause executive officers who exercise that power on his behalf, subject to narrow exceptions.” It simply ignored Humphrey’s Executor altogether, leaving its value as precedent unclear.

    The Supreme Court also said that the holding did not apply to the Federal Reserve Board. That “uniquely structured, quasi-private entity” would remain free from executive control via removal.

    Such an explicit carve-out in legal doctrine is striking but responds directly to claims made by litigants and political commentators of the dire economic consequences that could result were the president to have free rein over the Federal Reserve’s chairman.

    In dissent, Justice Elena Kagan blasted the majority for allowing the president to overrule Humphrey’s Executor “by fiat,” a result made even worse because the court had done so via the so-called shadow docket, in the absence of full briefing or oral argument. Such “short-circuiting” of the “usual deliberative process” is, she wrote, a wholly inappropriate way to make a “massive change in the law.”

    After the appointments of conservatives John Roberts, left, and Samuel Alito, the Supreme Court in 2009 invalidated restrictions on the president’s ability to remove members of an independent agency.
    Alex Wong/Getty Images

    The shadow of Humphrey’s Executor

    What happens now?

    The National Labor Relations Board is paralyzed, and the Merit Systems Protection Board is somewhat hamstrung, with both lacking the quorum necessary to act. Cases about the firing of Harris, Wilcox and multiple other officials will bedevil lower courts as they try to figure out whether Humphrey’s Executor still stands, even as a shadow of its former self.

    Trump aims to continue axing federal employees, even as the administration struggles to rehire others.

    And, already asked again to make major legal change on its emergency docket, the Supreme Court will need to determine whether such change warrants more than the few paragraphs of explanation it gave in the ruling on the Wilcox and Harris firings.

    If, as seems likely, the court ultimately overturns Humphrey’s Executor, Kagan’s dissent serves as a warning voiced by others as well: A decision that allows the president to have total control over the heads of more than 50 independent agencies – agencies that pursue the public interest in areas from financial regulation to the environment, to nuclear safety – could shift their focus from serving the public to pleasing the president, profoundly affecting the lives of many Americans.

    In 2022, I donated $20 to ActBlue.

    – ref. Supreme Court ignores precedent instead of overruling it in allowing president to fire officials whom Congress tried to make independent – https://theconversation.com/supreme-court-ignores-precedent-instead-of-overruling-it-in-allowing-president-to-fire-officials-whom-congress-tried-to-make-independent-257784

    MIL OSI – Global Reports –

  • MIL-OSI Global: Sly Stone turned isolation into inspiration, forging a path for a generation of music-makers

    Source: The Conversation – USA – By Jose Valentino Ruiz, Associate Professsor of Music Business and Entrepreneurship, University of Florida

    The charismatic front man of Sly and the Family Stone died on June 9, 2025, at the age of 82. Michael Ochs Archives/Getty Images

    In the fall of 1971, Sly and the Family Stone’s “There’s a Riot Goin’ On” landed like a quiet revolution. After two years of silence following the band’s mainstream success, fans expected more feel-good funk from the ensemble.

    What they got instead was something murkier and more fractured, yet deeply intimate and experimental. This was not just an album; it was the sound of a restless mind rebuilding music from the inside out.

    At the center of it all was front man Sly Stone.

    Long before the home studio became an industry norm, Stone, who died on June 9, 2025, turned the studio into both a sanctuary and an instrument. And long before sampling defined the sound of hip-hop, he was using tape and machine rhythms to deconstruct existing songs to cobble together new ones.

    As someone who spends much of their time working on remote recording and audio production – from building full arrangements solo to collaborating digitally across continents – I’m deeply indebted to Sly Stone’s approach to making music.

    He was among the first major artists to fully embrace the recording environment as a space to compose rather than perform. Every reverb bounce, every drum machine tick, every overdubbed breath became part of the writing process.

    From studio rat to bedroom producer

    Sly and the Family Stone’s early albums – including “Dance to the Music” and “Stand!” – were recorded at top-tier facilities like CBS Studios in Los Angeles under the technical guidance of engineers such as Don Puluse and with oversight from producer David Rubinson.

    These sessions yielded bright, radio-friendly tracks that emphasized tight horn sections, group vocals and a polished sound. Producers also prized the energy of live performance, so the full band would record together in real time.

    But by the early 1970s, Stone was burnt out. The dual pressures of fame and industry demands were becoming too much. Struggling with cocaine and PCP addiction, he’d grown increasingly distrustful of bandmates, label executives and even his friends.

    So he decided to retreat to his hillside mansion in Bel Air, California, transforming his home into a musical bunker. Inside, he could work on his own terms: isolated and erratic, but free.

    Stone relied heavily on overdubbing when recording music from his home.
    Richard McCaffrey/Michael Ochs Archives via Getty Images

    Without a full band present, Stone became a one-man ensemble. He leaned heavily into overdubbing – recording one instrument at a time and building his songs from fragments. Using multiple tape machines, he’d layer each part onto previous takes.

    The resulting album, “There’s a Riot Goin’ On,” was like nothing he’d previously recorded. It sounds murky, jagged and disjointed. But it’s also deeply intentional, as if every imperfection was part of the design.

    In “The Poetics of Rock,” musicologist Albin Zak describes this “composerly” approach to production, where recording itself becomes a form of writing, not just documentation. Stone’s process for “There’s a Riot Goin’ On” reflects this mindset: Each overdub, rhythm loop and sonic imperfection functions more like a brushstroke than a performance.

    Automating the groove

    A key part of Stone’s tool kit was the Maestro Rhythm King, a preset drum machine he used extensively.

    It wasn’t the first rhythm box on the market. But Stone’s use of it was arguably the first time such a machine shaped the entire aesthetic of a mainstream album. The drum parts on his track “Family Affair,” for example, don’t swing – they tick. What might have been viewed as soulless became its own kind of soul.

    This early embrace of mechanical rhythm prefigured what would later become a foundation of hip-hop and electronic music. In his book “Dawn of the DAW,” music technology scholar Adam Patrick Bell calls this shift “a redefinition of groove,” noting how drum machines like the Rhythm King encouraged musicians to rethink their songwriting process, building tracks in shorter, repeatable sections while emphasizing steady, looped rhythms rather than free-flowing performances.

    Though samplers wouldn’t emerge until years later, Stone’s work already contained that repetition, layering and loop-based construction that would become characteristic of the practice.

    He recorded his own parts the way future DJs would splice records – isolated, reshuffled, rhythmically obsessed. His overdubbed bass lines, keyboard vamps and vocal murmurs often sounded like puzzle pieces from other songs.

    Music scholar Will Fulton, in his study of Black studio innovation, notes how producers like Stone helped pioneer a fragment-based approach to music-making that would become central to hip-hop’s DNA. Stone’s process anticipated the mentality that a song isn’t necessarily something written top to bottom, but something assembled, brick by brick, from what’s available.

    Perhaps not surprisingly, Stone’s tracks have been sampled relentlessly. In “Bring That Beat Back,” music critic Nate Patrin identifies Stone as one of the most sample-friendly artists of the 1970s – not because of his commercial hits, but because of how much sonic space he left in his tracks: the open-ended grooves, unusual textures and slippery emotional tone.

    You can hear his sounds in famous tracks such as 2Pac’s “If My Homie Calls,” which samples “Sing a Simple Song”; A Tribe Called Quest’s “The Jam,” which draws from “Family Affair”; and De La Soul’s “Plug Tunin’,” which flips “You Can Make It If You Try.”

    The studio as instrument

    While Sly’s approach was groundbreaking, he wasn’t entirely alone. Around the same time, artists such as Brian Wilson and The Rolling Stones were experimenting with home and nontraditional recording environments – Wilson famously retreating to his home studio during “Pet Sounds,” and the Stones tracking “Exile on Main St.” in a French villa.

    Yet in the world of Black music, production remained largely centralized in institutionally controlled studio systems such as Motown in Detroit and Stax in Memphis, where sound was tightly managed by in-house producers and engineers. In that context, Stone’s decision to isolate, self-produce and dismantle the standard workflow was more than a technical choice: It was a radical act of autonomy.

    The rise of home recording didn’t just change who could make music. It changed what music felt like. It made music more internal, iterative and intimate.

    Sly Stone helped invent that feeling.

    It’s easy to hear “There’s a Riot Goin’ On” as murky or uneven. The mix is dense with tape hiss, drum machines drift in and out of sync, and vocals often feel buried or half-whispered.

    But it’s also, in a way, prophetic.

    It anticipated the aesthetics of bedroom pop, the cut-and-paste style of modern music software, the shuffle of playlists and the recycling of sounds that defines sample culture. It showed that a groove didn’t need to be spontaneous to be soulful, and that solitude could be a powerful creative tool, not a limitation.

    In my own practice, I often record alone, passing files back and forth, building from templates and mapping rhythm to grid – as do millions of musical artists who compose tracks from their bedrooms, closets and garages.

    Half a century ago, a funk pioneer led the way. I think it’s safe to say that Sly Stone quietly changed the process of making music forever – and in the funkiest way possible.

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

    – ref. Sly Stone turned isolation into inspiration, forging a path for a generation of music-makers – https://theconversation.com/sly-stone-turned-isolation-into-inspiration-forging-a-path-for-a-generation-of-music-makers-258659

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Ghana Accelerates Efforts to Boost Intra-African Trade

    Ghana is fast-tracking the implementation of the African Continental Free Trade Area (AfCFTA) to unlock new opportunities for Ghanaian businesses across Africa by moving beyond commodity-based trade towards value addition for its traditional exports such as gold, oil and cocoa. 

    Speaking during the Ghana Intra-African Trade Fair (IATF) 2025 Business Roadshow, Ghana’s Minister for Trade, Agribusiness, and Industry, Hon. Elizabeth Ofosu-Adjare highlighted the government’s commitment to creating an enabling environment for businesses to thrive under AfCFTA by improving trade infrastructure, financing and market access. 

    “Under our Market Expansion Programme, the National AfCFTA Coordination Office is providing firm-level support to over 2,000 MSMEs in Ghana. This includes sensitization, market readiness training programmes, training on AfCFTA’s Rules of Origin, trade finance and market access initiatives. Ghana has also conducted targeted trade expeditions to East Africa, taking Ghanaian businesses to Kenya, Tanzania and Rwanda to explore real-time opportunities and negotiate supply contracts,” the Minister said in a speech read on her behalf by the Acting National Coordinator, National AfCFTA Coordination Office, Benjamin Kwaku Asiam. 

    The Ghana IATF2025 Business Roadshow brought together government officials, the trade community, including businesses and investors, and executives from the African Export-Import Bank (Afreximbank). The event focused on promoting intra-African trade under the theme: Harnessing Regional and Continental Value Chains: Accelerating Africa’s Industrialisation and Global Competitiveness through AfCFTA. 

    The Business Roadshow is one of five planned in Accra, Nairobi, Johannesburg, Lagos, and Algiers ahead of the fourth edition of the biennial Intra-African Trade Fair 2025 (IATF2025), scheduled to take place in Algiers, Algeria, from 4 – 10 September 2025. IATF is Africa’s premier trade and investment event, held by Afreximbank, in collaboration with the African Union Commission and the AfCFTA Secretariat, and provides a platform for businesses to showcase their goods and exchange trade and investment information within the continent’s single market. 

    In his keynote address, the Secretary General of the AfCFTA Secretariat, H.E. Wamkele Mene noted that the IATF offers an unparalleled platform for the exchange of trade and investment information; and is a marketplace of ideas, opportunities, and partnerships.  

    “As we work to scale up intra-African trade, build regional value chains, and accelerate industrialisation, IATF serves as a key platform for connecting African businesses, investors, governments, and innovators. It is a catalyst for turning the promise of AfCFTA into concrete outcomes: trade deals signed, investments mobilised, and jobs created. By establishing a large, integrated market, AfCFTA encourages countries to specialize and add value to products, attracting investment and creating jobs,” H.E. Mene said, adding that this supports economic diversification, poverty reduction, and Africa’s vision for sustainable and inclusive development. 

    Afreximbank’s Group Chief Economist & Managing Director, Research, Dr. Yemi Kale described IATF as AfCFTA’s commercial marketplace, which brings to life Africa’s efforts to trade more with itself not only in raw materials, but also in value-added goods, services, and innovations. 

    “One of the persistent barriers to intra-African trade is not tariffs or logistics alone—but also access to accurate, timely, and actionable market intelligence. Trade cannot flourish in the absence of information,” Dr Kale said, adding that IATF2025 provides a platform for addressing this. He invited Ghanaian businesses and government agencies to participate in IATF2025, where over 2,000 exhibitors from Africa and beyond will showcase their products to more than 35,000 visitors and buyers from over 140 countries, with trade and investment deals projected to exceed US$44 billion. 

    Cumulatively, IATF has attracted over 4,500 exhibitors, more than 70,000 visitors, and facilitated over US$100 billion in deals. The last edition held in Cairo attracted nearly 2,000 exhibitors from 65 countries generated US$43.7 billion in trade and investment deals. 

    The upcoming IATF2025 will be hosted by the Government of the People’s Democratic Republic of Algeria. Speaking at the Business Roadshow, Algeria’s Ambassador to Ghana, H.E. Mourad Louhaidia welcomed visitors and exhibitors to Algiers, pledging his government’s commitment to facilitate a successful IATF2025 by mobilising transport and hospitality infrastructure and facilitating smooth entry for all participants into the country. 

    “The Algerian embassy will fast track processing of visas for all participants from Ghana. We have set up a dedicated team at the embassy to handle all information requests and visa applications to participate in IATF2025,” H.E. Louhaidia added.  

    IATF2025 will feature a trade exhibition, the Creative Africa Nexus (CANEX) programme spotlighting cultural industries, a four-day Trade and Investment Forum, and the Africa Automotive Show. Special Days will highlight countries, public and private sector entities, tourism, cultural attractions, and Global Africa Day celebrating ties with the African diaspora. 

    Additional activities include business-to-business and business-to-government matchmaking, the AU Youth Start-Up programme, the Africa Research and Innovation Hub, and the African Sub-Sovereign Governments Network (AfSNET) to promote local trade and cultural exchanges. The IATF Virtual platform is also live, connecting exhibitors and visitors all year-round. 

    Ghanaian IATF Ambassador and Chairman, Oakwood Green Africa, Gabriel Edgal said: “Long before borders were drawn, Africa thrived as a connected economy. Trade was a way of life. Value was created locally. Progress moved through relationships and exchange. Across the world, we see increasing protectionism. Traditional aid partners are looking increasingly inward. The global economic tide is shifting, and everybody is focusing on themselves instead. I believe this is a wake-up call — that we need to now be more deliberate about trading among ourselves, to create interconnected prosperity, to trade among ourselves, build with ourselves, and grow for ourselves. It is time for action”. 

    Ghana has been recognized as a leading example in AfCFTA implementation, with the government actively facilitating private sector participation through the National Coordination Office and initiatives like the Guided Trade Initiative, which has seen Ghanaian companies successfully trade with neighbouring African countries 

    To participate in IATF2025 please visit www.IntrAfricanTradeFair.com.  

    Distributed by APO Group on behalf of Afreximbank.

    Media contact: 
    media@intrafricatradefair.com
     press@afreximbank.com

    About the Intra-African Trade Fair:
    Organised by the African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, the Intra-African Trade Fair (IATF) is intended to provide a unique platform for facilitating trade and investment information exchange in support of increased intra-African trade and investment, especially in the context of implementing the African Continental Free Trade Agreement (AfCFTA). IATF brings together continental and global players to showcase and exhibit their goods and services and to explore business and investment opportunities in the continent. It also provides a platform to share trade, investment and market information with stakeholders and allows participants to discuss and identify solutions to the challenges confronting intra-African trade and investment. In addition to African participants, the Trade Fair is also open to businesses and investors from non-African countries interested in doing business in Africa and in supporting the continent’s transformation through industrialisation and export development. 

    MIL OSI Africa –

  • MIL-OSI United Kingdom: UK and Scottish governments join forces to boost Scottish growth

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK and Scottish governments join forces to boost Scottish growth

    Scottish Secretary and Minister for Business co-chair business forum

    • Business and trade union groups working with governments to grow Scotland’s economy faster
    •  Murray urges new collaboration for Scotland’s defence industry

    For the first time in more than two years, the Scottish Business Growth Group was convened in Edinburgh today, bringing the UK and Scottish governments together with business leaders to discuss how they can deliver economic growth.

    The forum, jointly chaired by the Scottish Secretary Ian Murray and the Scottish Government’s Minister for Business Richard Lochhead, brings together officials from both of Scotland’s governments alongside business representatives and the Scottish Trades Union Congress. With economic growth the UK Government’s number one priority, Murray used a speech in March at the University of Edinburgh to announce that this group would be reconvened, with a fresh focus on collaboration across governments and sectors.

    During the meeting, the Scottish Secretary provided updates on recent and upcoming announcements from the UK Government and outlined their significance for businesses in Scotland. This includes the Spending Review, the Strategic Defence Review and economic opportunities for the Scottish supply chain, the recent trade deals agreed with the EU, US and India – and the modern Industrial Strategy which will be announced shortly.

    Recognising there are already a  range of areas in which the UK and Scottish governments work constructively with business, the Scottish Secretary called for collaboration in new areas which could yield significant economic benefits, such as defence.

    Murray has also been working with business groups as part of his Brand Scotland programme and last week announced that the Scotland Office will fund the Scottish Chambers of Commerce to launch a new international trade initiative. This collaboration will be supported by a grant of £100,000, to promote Scottish goods and services and bring foreign direct investment into Scotland.

    Following the meeting, Mr Murray said: 

    “Scotland has two governments and most Scots rightly expect their politicians to work in partnership wherever possible, especially on something as important as economic growth. Political differences aside, I have always sought to engage constructively with Scottish Government ministers and I was delighted to co-chair this important forum today with Richard Lochhead.

    “The business and trade union groups which joined our discussion challenged us to go further and faster in helping businesses and workers feel the benefits of economic growth. I am determined to meet that challenge and want the Scottish Government to work with me in areas where we have not previously collaborated.

    “With the UK Government committing to significant increases in defence spending, there are huge opportunities for Scottish workers and defence firms, but only if both governments fully commit to giving our young people the skills they need and backing our world class defence industry.

    “On nuclear power, the announcement this week of UK Government investment for Sizewell in England is a reminder of the huge potential of nuclear power. Thousands of skilled jobs and billions of pounds of investment could come to Scotland, but only if both governments work in partnership with industry to unlock those opportunities.

    “Boosting Scottish exports and selling the best of Scotland overseas is a key lever in delivering economic growth at home. Our Brand Scotland programme, boosted by £2.25 million in the Spending Review, will do just that. I am delighted to be working with the Scottish Government and businesses of all sizes to deliver trade missions and sell our goods and services to the world.”

    Updates to this page

    Published 13 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: CMA consults on releasing Google from Privacy Sandbox commitments

    Source: United Kingdom – Government Statements

    News story

    CMA consults on releasing Google from Privacy Sandbox commitments

    Protections secured by the CMA are no longer needed after Google stepped back from plans which could have favoured its business in multi-billion-pound online advertising sector.

    iStock

    The Competition and Markets Authority (CMA) has today launched a consultation on releasing Google from commitments after the tech firm announced in April it was abandoning plans to prompt users to decide if they want to block third party cookies from Chrome – the popular browser used by millions of users.

    The CMA commitments were put in place to ensure that Google’s Privacy Sandbox was developed in a way that benefits consumers. Without the CMA’s oversight, Google’s original plan to deprecate third-party cookies could have weakened competition in the digital advertising sector – an industry worth billions to the UK economy – harming consumers who ultimately pay for the cost of online advertising.

    The commitments protected competition by ensuring that Google designed and developed the Privacy Sandbox in a way that did not favour its own ad-tech services over those of its competitors.

    The CMA believes the commitments are no longer necessary and is now consulting before it takes a decision  on whether to release them later this year.

    Anyone with an interest in this work is welcome to submit feedback by 11.55pm on 4 July 2025.

    More information is available via the Investigation into Google’s ‘Privacy Sandbox’ browser changes case page.

    Notes to editors

    1. The CMA has worked closely with the Information Commissioner’s Office (ICO) throughout this project to ensure that competition and privacy aspects were considered together. In the event that the Google Privacy Sandbox initiative were to give rise to competition concerns in the future, the CMA would have the ability to intervene through powers under the Digital Markets, Competition and Consumers Act 2024 as well as the Competition Act 1998.
    2. For media enquiries, contact the CMA press office on 020 3738 6460 or press@cma.gov.uk.

    Updates to this page

    Published 13 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Co-Founder of MidCap Howard Widra to Retire at the End of 2026

    Source: GlobeNewswire (MIL-OSI)

    BETHESDA, Md., June 13, 2025 (GLOBE NEWSWIRE) — MidCap Financial (“MidCap”) today announced that Howard Widra, Co-Founder of MidCap and Partner at MidCap’s investment manager, Apollo Global Management, Inc. (“Apollo”), will retire from MidCap and Apollo at the end of 2026. Mr. Widra will continue in his current role through December 31, 2026. Steve Curwin, Co-Founder and CEO of MidCap, and Chad Leat, non-executive Board Chair of MidCap, have been named Co-Executive Chairmen of MidCap. David Moore and Josh Groman will continue in their roles as Co-Presidents of MidCap.

    “Being part of the growth and success of MidCap has been my proudest professional accomplishment,” said Mr. Widra. “Our creative and collaborative business model has been critical to our success and enabled us to develop a unique culture that has produced a very deep and long-tenured team. I couldn’t be more excited about the prospects for MidCap and look forward to seeing the business continue to flourish for many years.”

    During Mr. Widra’s tenure, MidCap has grown from a start-up venture to a leader in private credit with over $55 billion of commitments under management and administration. MidCap is a market leader in each of its seven core markets and has one of the largest private credit origination teams in the industry.

    “Howard has been a great leader and partner over the last 17 years, driving growth for MidCap, its clients and its investors,” said Mr. Curwin. “Thanks to Howard’s leadership, the business is well-positioned to thrive, and we are confident in our ability to ensure MidCap remains an industry leader far into the future.”

    About MidCap Financial

    MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of March 31, 2025, MidCap Financial provides administrative or other services for approximately $55 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc., pursuant to an investment management agreement. Apollo had assets under management of approximately $785 billion as of March 31, 2025.

    For more information about MidCap Financial, please visit www.midcapfinancial.com.

    For more information about Apollo, please visit www.apollo.com.

    *Including $6.9 billion of commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV

    Contact

    Kimberly Sobel

    MidCap Head of Marketing and Business Strategy

    ksobel@apollo.com

    The MIL Network –

  • MIL-OSI USA: Turkana Food Inc. Recall Flora Dried Apricots with Undeclared Sulfites on Product Labeling Because of Possible Health Risk

    Source: US Food and Drug Administration

    Summary

    Company Announcement Date:
    June 12, 2025
    FDA Publish Date:
    June 12, 2025
    Product Type:
    Food & BeveragesAllergens
    Reason for Announcement:

    Recall Reason Description
    Potential or Undeclared Allergen – Sulfites

    Company Name:
    Turkana Food Inc.
    Brand Name:

    Brand Name(s)
    Floria

    Product Description:

    Product Description
    Dried Apricots

    Company Announcement
    Turkana Food Inc. Kenilworth, NJ is recalling 352 cases of Floria Dried Apricots because the product contains UNDECLARED SULFITES on the package label.
    The recalled Floria Dried Apricots was distributed in the states of FL, KY, VA, NY, NJ, TN, MA, TX, Il, IN, MI, RI, PA, NC, MD, VA, OH, AL, MO, CA.
    The recalled 200 Gram paper packaging Labeled Floria Dried Apricots.
    The product packaging LOT# 440090478-15-333 can be found on the bottom portion of the package. UPC Label 2539560010 marked by a sticker on the top side of package. Expiration Date 11/2026, which can be found on the bottom portion of the package.
    No reported illnesses have been confirmed as of 06/12/2025.
    The recall was the result of a routine sampling performed by the New York State Department of Agriculture and markets which revealed that the finished products contained Sulfites that were not listed on the product labelling. The company has ceased production and distribution of the products as FDA and the company continue their investigation to correct the issue with the manufacturer.
    Consumers who purchased Floria Dries Apricots with the lot code 440090478-15-333 should not consume the product and they are urged to return it to the place of purchase for a full refund.
    Consumers with questions may contact Turkana Foods Inc. 908-810-8800 Monday – Friday 8am – 6pm EST.

    Company Contact Information

    Consumers:
    Turkana Foods Inc.
    908-810-8800

    Product Photos

    Content current as of:
    06/12/2025

    Regulated Product(s)

    Topic(s)

    Follow FDA

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Sir Chris Bryant speech at London Tech Week 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    Sir Chris Bryant speech at London Tech Week 2025

    Minister for Data Protection and Telecoms, Sir Chris Bryant, gave a speech at London Tech Week on Wednesday 11 June 2025.

    The first time Kalpana went to Skills Enterprise – a digital training hub run out of a community centre in Newham, East London – she hadn’t used a laptop before.

    That made finding a job pretty difficult.

    She’d been out of work for some time, and had never browsed a job site, uploaded a CV or sent a professional email.

    After weekly training, Kalpana has gradually grown in confidence using the internet to find work.

    And she’s been given her own laptop.

    It’s become an asset for the whole family – a means to help her son do homework or pick GCSE options.

    In her words, the help she received in Newham “changed everything”.

    Painting the problem

    There are 1.6 million people in the UK who, like Kalpana did, live largely offline.

    It’s a kind of exclusion that’s hard to spot.

    If you don’t live exiled from the digital world, how do you understand what it looks like?

    It looks like a family of 5 sharing one laptop, judging whose homework is most important that night.

    An elderly woman who can’t apply for a disabled parking permit, because she’s not given options to do it offline.

    A jobseeker in a rural area travelling miles for public WiFi to send off a CV.

    Or a young man experiencing homelessness, who uses his phone to find a safe place to stay.

    When he runs out of money for data, he faces another night where he hopes to get lucky by sleeping on the bus.

    When a laptop plus an internet connection equals a train ticket, a doctor’s appointment or a conversation with a loved one, not having those things means being locked out of a world of opportunity.

    Locked out of life itself.

    The economic case

    That’s a problem for all of us.

    We should care about digital exclusion for its own sake – in the same way society comes together to help people shut out of housing, of work.

    But we should also care because we can’t afford not to.

    In a week when you’ll hear a lot about the massive opportunity for economic growth technology brings – fundamental to our Plan for Change – we can’t afford to miss out on the growth we’ll see if we close the digital divide.

    For every £1 spent on digital skills training, our economy gets £9.48 back.

    And if everyone in the workforce could do all 20 essential digital tasks, the country could be £23 billion better off each year, in Gross Value Added.

    Whole nation task

    A problem for the whole nation, then.

    And one the whole nation has a hand in solving.

    For too long, this work has been left to the sterling efforts of industry, local government and charities, with central government at worst, absent – at best, standing on the sidelines calling on businesses to do more.

    Well, no longer.

    This is the year that government stepped up to play our part.

    Digital Inclusion Action Plan

    In February, we published a Digital Inclusion Action Plan.

    It’s the first time a British government has proposed a plan on this since 2014. In that same timespan, Taylor Swift has released 11 albums.

    The Plan makes up for lost time, setting out the first 5 actions we’re taking.

    And today I can announce that, next year alone, we’ll back local digital inclusion initiatives with £6 million of new funding.

    The money will support programmes up and down the country where so much good work is done, including through our Digital Inclusion Innovation Fund.

    It could be used to get laptops into schools that kids can take home, so no child falls behind on learning because they don’t have the tech.

    To give councils the power to trial innovative ways of running digital skills training for people anxious about getting online.  

    Or to build up our evidence base on why digital exclusion happens.

    This funding will focus our efforts where they work best: in the communities people live and work in.

    To meet this challenge, we’ll also need a concerted national effort on skills.

    Keeping up is a lifelong pursuit, as any of us who have ever scratched our heads at a new operating system or helped a parent share a photo can attest to.

    Education doesn’t stop the day you turn 18. Digital education is no different.

    On Monday, the PM announced that we’ll partner with industry to give 7.5 million workers essential AI skills by the end of the decade.

    So that the AI revolution is one everybody gets to be a part of.

    And, as part of the Digital Inclusion Action Plan, we’ll give employers targeted support to upskill teams.

    We’ve also kicked off a project with the Digital Poverty Alliance to donate refurbished government laptops and phones to people in need.

    I hope this scheme inspires more like it.

    Because it makes no sense to live in a world where, every day, stacks of old devices are carted off to landfill…

    … while 1.5 million people in this country don’t have a laptop or smartphone.

    Soon, I’ll launch an ‘IT Reuse for Good’ charter, alongside Deloitte, Vodafone and the Good Things Foundation – where businesses can pledge to donate unneeded tech.

    I hope many of you will sign up.

    Cross-government

    This is work happening in the round in government.

    The Action Plan is co-signed by 5 Secretaries of State, and a Ministerial Group brings together Health, Education, Work and Pensions and more.

    Because digital exclusion hinders people in every facet of life – dimmer job prospects; shorter life expectancy. So we’ve got to bust the usual silos to fix it.

    We must also be guided by those who’ve led on this for years.

    Our Digital Inclusion Action Committee – chaired by Baroness Hilary Armstrong – has now been appointed, to make sure our work is informed by experts as well as the people we’re here to help.

    Business support

    I know how many businesses have put a great deal of time and money into this.

    Ten companies pledged commitments alongside our Action Plan; I am immensely grateful to them all.

    From Virgin Media O2, connecting 1 million excluded people by the end of the year.

    To BT, giving free WiFi to families and communities across the country.

    I also want to thank everyone offering social tariffs, connecting low-income households to broadband and data that would otherwise be out of reach.

    And huge thanks to all of you finding ways to connect the unconnected – tariffs or tech, skills or speedier connections.

    Call to action and wrap-up

    What we’ve done so far is just the start.

    We’ll keep pushing ourselves to go further, and I want to see industry go with us:

    Partner with local digital inclusion charities.

    Sign up to the device donation charter.

    Keep investing in your employees’ digital learning.

    For years at London Tech Week, you’ve heard successive governments talk about the transformative power of technology.

    I believe what has to define this government’s approach is that we’ll make this a transformation that leaves nobody behind.

    That makes society more equal, not less.

    And that reaps the economic rewards equality brings.

    Back in Newham, Kalpana is now a digital skills volunteer.

    She’s gone from being someone who’d barely used the internet to someone who teaches others to work a smartphone, or set up online banking.

    That’s the return that investing in digital inclusion gives us.

    Connecting just one person can connect a family, a workplace, a community.

    In the end, we’ll reach the 1.6 million unconnected that way. If we keep at it, together.

    Updates to this page

    Published 13 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: SFST made positive progress with signing of CDTA with Norway during his visit

    Source: Hong Kong Government special administrative region

    SFST made positive progress with signing of CDTA with Norway during his visit  
         To unlock new opportunities in the area of maritime finance, Mr Hui met with the Chief Customer Officer, Ms Line Dahle, and Vice President and Head of Analytics, Mr Sigvald Fossum, of Norwegian marine and energy insurance provider Gard, which has a strong presence in Hong Kong’s marine insurance market and provides services to manage maritime risk for clients. He also met with the Vice-President and Director of Group Government and Public Affairs of DNV, Mr Lars Almklov. The global assurance and risk management company DNV has been recognised by the Hong Kong Monetary Authority as an approved external reviewer for the Green and Sustainable Finance Grant Scheme.
     
         Mr Hui told management members of the two companies that Hong Kong and Norway possess complementary strengths that can create a compelling case for financial co-operation. While Norway’s maritime industry is the cornerstone of its economy, Hong Kong’s maritime services industry is also a valued brand in the international arena. Joint ventures in maritime insurance could combine Norway’s expertise in marine risk management with Hong Kong’s accessibility, creating comprehensive solutions for the sector and addressing the new demands arising from geopolitical and climatic challenges. He highlighted that Hong Kong has a sophisticated ecosystem for ship financing and leasing, supported by tax incentives and its strategic location along global trade routes.
     
    On June 12 (Oslo time), Mr Hui paid a courtesy call to the Chinese Ambassador Extraordinary and Plenipotentiary to the Kingdom of Norway, Ms Hou Yue.
     
    He also had a meeting with the Director of Politics and Society of Finance Norway, Mr Jan Erik Fane, and other management staff. Finance Norway is the industry organisation for the financial sector in Norway, representing banks, insurance companies and other financial institutions on regulatory, policy and industry developments.
     
         Mr Hui noted that the Norwegian sovereign fund is one of the largest funds in the world and is positioned as a pioneer in responsible investing with a strong emphasis on Environmental, Social and Governance principles. He said that the shared focus of Hong Kong and Norway on sustainability creates significant opportunities for collaboration.
         At a dinner reception co-organised by the Hong Kong Economic and Trade Office, London, and the Norway-Hong Kong Chamber of Commerce on June 11 (Oslo time), Mr Hui said that even though there is a geographical distance of around 8 600 kilometres between Norway and Hong Kong, the two places share more commonalities in the financial market than perceived.
     
         The first one is the commitment to green and sustainable developments. Hong Kong is striving to achieve carbon neutrality before 2050, and the Government launched a roadmap last December to require publicly accountable entities (PAEs) to adopt the International Financial Reporting Standards – Sustainability Disclosure Standards (ISSB Standards) and to provide a well-defined pathway for large PAEs to fully adopt the ISSB Standards no later than 2028.
     
         Just last week, Hong Kong issued a new round of Government green bonds and infrastructure bonds to channel market capital to support green projects and promote sustainable developments in Hong Kong. This round of bonds amounts to a total of around US$3.5 billion, denominated in Hong Kong dollars, Renminbi, US dollars and euros. The offering attracted participation from a wide spectrum of investors from more than 30 markets across Asia, Europe, Middle East, and the Americas, with total orders amounting to an equivalent of around US$30 billion, representing a subscription ratio of almost nine times.
     
         The other commonality is expertise in wealth management. Mr Hui noted that Norway’s expertise in long-term asset management driven by its sovereign fund aligns seamlessly with Hong Kong’s position as Asia’s premier wealth management centre. Capitalising on Hong Kong’s advantages of having a solid financial infrastructure and an extensive international client base, abundant co-investment opportunities are available for Norwegian capital in the Asian markets, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
     
         More commonalities lie in fintech and digital finance. Norway is a highly digitalised economy that has fostered advancements in mobile payment systems, blockchain technology, and digital asset management. At the same time, Hong Kong is home to around 1 100 fintech companies and start-ups. The Government endeavours to boost fintech developments through measures such as enhancing fintech infrastructures, nurturing talent, establishing regulatory regimes for digital assets such as the stablecoin regulatory regime to be enacted on August 1. The second edition of a policy statement on digital assets will also be promulgated soon. By combining Norway’s technological innovation with Hong Kong’s access to Asian markets, the partnership could drive cutting-edge solutions that redefine digital finance on a global scale.
     
        Mr Hui has returned to Hong Kong in the evening of June 13.
    Issued at HKT 18:33

    NNNN

    MIL OSI Asia Pacific News –

  • Inflation to average 2.5% over next six months: HSBC

    Source: Government of India

    Source: Government of India (4)

    India’s inflation is expected to average around 2.5 per cent over the next six months, according to a report by HSBC Global Research released on Friday.

    The report attributed the softer inflation outlook to a high base effect from last year, as well as stable food prices and adequate grain supplies. Data for June is already trending slightly below May levels, it noted.

    “Vegetable prices in the first 10 days of June have increased in the range of 0–13 per cent, but the high base from last year is helping keep overall inflation in check,” HSBC said in its outlook.

    The monsoon, which began early this year, has slowed recently. Despite this, the sowing of key summer crops such as rice and pulses is reportedly progressing well. Combined with strong cereal production from last year, this has helped keep granaries well-stocked—providing the government with flexibility to release grain stocks gradually and manage food inflation over a longer horizon.

    Headline and core inflation (excluding gold) stood at 2.8 per cent, well below the RBI’s medium-term target of 4 per cent. Food prices remained in deflation for the fifth consecutive month, falling by 0.2 per cent on a month-on-month basis. Prices of items such as fruits, eggs, fish, meat, and sugar showed subdued momentum.

    However, high gold prices continue to exert upward pressure on core inflation. With gold accounting for 1.1 per cent of the Consumer Price Index (CPI) basket, and prices having risen by over 30 per cent in recent months, core inflation remains slightly elevated. Excluding gold, HSBC estimates core inflation at 3.5 per cent year-on-year.

    Looking ahead, the report forecasts that core inflation could ease further in the second half of 2025 if gold prices decline, as projected by HSBC’s commodities team. It also expects external factors to aid disinflation, including a stronger rupee, falling commodity prices, and weaker global demand—particularly from China.

    The RBI has already cut the policy rate by 100 basis points this year and reduced the cash reserve ratio by an equivalent amount. HSBC expects the central bank to maintain a pause in its August and October policy meetings, before delivering one final 25-basis-point rate cut in December. This would bring the repo rate down to 5.25 per cent by the end of the year.

    IANS

  • MIL-OSI United Kingdom: Amanda Timberg and Darren Xiberras reappointed as Board Members of the National Citizen Service Trust

    Source: United Kingdom – Executive Government & Departments

    News story

    Amanda Timberg and Darren Xiberras reappointed as Board Members of the National Citizen Service Trust

    Amanda Timberg and Darren Xiberras have been reappointed by HM The King as Board Members to support with the orderly wind-down of the National Citizen Service Trust. Darren (as Chair) and Amanda (as member) play an important role on the Audit and Risk sub-Committee (ARC), which has an important role to play in the wind-down.

    Amanda Timberg

    Appointed for a 3 year term commencing 12th June 2025.

    Amanda has dedicated her career to improving access to opportunities through investing in people and communities. She has worked in various roles at Google over the last decade and is currently serving as the Director of Global Programs at Google.org. There, she leads initiatives like product contributions, employee giving, volunteering, and apprenticeships.

    Before Google, Amanda spent fifteen years in education charities in the UK and the US, including a decade as Executive Director at Teach First, working to develop and equip teachers and leaders to make an impact towards educational equity. 

    Amanda started her career teaching primary school in Compton, California and worked at both Teach For America and the Los Angeles Unified School District in southern California. She holds an MSc in Voluntary Sector Management from Bayes Business School.

    Darren Xiberras 

    Appointed for a 3 year term commencing 12th June 2025.

    Darren is currently Chief Financial Officer of Cardiff University and a member of the University Executive Board. He oversees all aspects of the University’s finances and financial performance. He is a Director of UMAL Limited which is a specialist provider of insurance services to the Higher and Further Education sectors.

    Prior to joining Cardiff University, Darren was Chief Finance Officer at the University of South Wales having joined them in 2019. Immediately before that, he held the same role for the education charity Teach First where he also oversaw the Human Resources (HR), property and IT functions.

    Prior to Teach First, Darren was Finance Director of ENGIE (formerly GDF Suez) UK’s £350m turnover public sector division, delivering property services to a multitude of blue-chip public sector clients across the UK.

    Darren has also been Director of Corporate Services for a national UK charity and held the role of Group Finance Director for an Alternative Investment Market (AIM) listed PLC delivering services to the public sector. He trained as an accountant with South Wales Electricity PLC.

    Darren has held several other voluntary roles for both charities and in Higher Education.

    Remuneration and Governance Code

    Board Members of the National Citizen Service Trust are not remunerated. This appointment has been made in accordance with the Cabinet Office’s Governance Code on Public Appointments. The appointments process is regulated by the Commissioner for Public Appointments.

    Under the Code, any significant political activity undertaken by an appointee in the last five years must be declared. This is defined as including holding office, public speaking, making a recordable donation, or candidature for election. Amanda Timberg and Darren Xiberras have not declared any significant political activity.

    Updates to this page

    Published 13 June 2025

    MIL OSI United Kingdom –

  • Inflation to average 2.5% over next six months, below RBI forecast: HSBC

    Source: Government of India

    Source: Government of India (4)

    India’s inflation is expected to average around 2.5 per cent over the next six months, significantly lower than the Reserve Bank of India’s (RBI) forecast of 3.5 per cent, according to a report by HSBC Global Research released on Friday.

    The report attributed the softer inflation outlook to a high base effect from last year, as well as stable food prices and adequate grain supplies. Data for June is already trending slightly below May levels, it noted.

    “Vegetable prices in the first 10 days of June have increased in the range of 0–13 per cent, but the high base from last year is helping keep overall inflation in check,” HSBC said in its outlook.

    The monsoon, which began early this year, has slowed recently. Despite this, the sowing of key summer crops such as rice and pulses is reportedly progressing well. Combined with strong cereal production from last year, this has helped keep granaries well-stocked—providing the government with flexibility to release grain stocks gradually and manage food inflation over a longer horizon.

    Headline and core inflation (excluding gold) stood at 2.8 per cent, well below the RBI’s medium-term target of 4 per cent. Food prices remained in deflation for the fifth consecutive month, falling by 0.2 per cent on a month-on-month basis. Prices of items such as fruits, eggs, fish, meat, and sugar showed subdued momentum.

    However, high gold prices continue to exert upward pressure on core inflation. With gold accounting for 1.1 per cent of the Consumer Price Index (CPI) basket, and prices having risen by over 30 per cent in recent months, core inflation remains slightly elevated. Excluding gold, HSBC estimates core inflation at 3.5 per cent year-on-year.

    Looking ahead, the report forecasts that core inflation could ease further in the second half of 2025 if gold prices decline, as projected by HSBC’s commodities team. It also expects external factors to aid disinflation, including a stronger rupee, falling commodity prices, and weaker global demand—particularly from China.

    The RBI has already cut the policy rate by 100 basis points this year and reduced the cash reserve ratio by an equivalent amount. HSBC expects the central bank to maintain a pause in its August and October policy meetings, before delivering one final 25-basis-point rate cut in December. This would bring the repo rate down to 5.25 per cent by the end of the year.

    IANS