Infrastructure investment remains a key component in driving economic growth and government has maintained its R1 trillion allocation for infrastructure investment over the medium term to support this growth.
This according to Finance Minister Enoch Godongwana, who delivered the Budget Speech in Parliament on Wednesday.
“[Quality] infrastructure investment expands the productive capacity of the economy and responds to the diverse needs of the citizens. Infrastructure is also a rich source of jobs in construction, engineering, and related industries across a range of skill levels.
“It is for these reasons that infrastructure is the fourth pillar of the growth strategy, and this budget demonstrates our resolve to change the composition of spending from consumption to investment. Allocations towards capital payments remain the fastest-growing area of spending by economic classification. Public infrastructure spending over three years will exceed the R1 trillion mark,” Godongwana said.
Spending will focus on “maintaining and repairing existing infrastructure, building new infrastructure, and acquiring equipment and machinery” primarily in transport and logistics, energy and water and sanitation.
“Of the R402 billion for transport and logistics, R93.1 billion is for the South African National Roads Agency to keep the 24 000-kilometer national road network in active maintenance and rehabilitation. R53.1 billion is for the maintenance and refurbishment of provincial roads.
“R66.3 billion is allocated to PRASA, out of which R18.2 billion is for the rolling stock fleet renewal programme and R12.3 billion is provisionally allocated for the renewal of the signalling system. The spending will sustain progress in rebuilding the infrastructure to provide affordable commuter rail services. This will enable PRASA to increase passenger trips from 60 million in 2024/25 to 186 million by the end of the MTEF [Medium Term Expenditure Framework] period.
“The energy sector will invest R219.2 billion on strengthening the electricity supply network, from generation to transmission and distribution. The water and sanitation sector will spend R156.3 billion on expanding our water resource and service infrastructure, including dams, bulk infrastructure to service mines, factories and farms,” Godongwana explained.
Reforms for private sector participation
The Minister announced that new regulations for public-private partnerships (PPPs), which were gazetted earlier this year, are expected to take effect next month.
“These will reduce the procedural complexity of undertaking PPPs, increasing the deal flow and allowing government to leverage its limited resources to fast-track infrastructure provision. The National Treasury has developed enabling guidelines and frameworks to support the new regulations.
“Specifically, the unsolicited proposals framework will create clear rules for managing proposals from the private sector. And the framework for fiscal commitments and contingent liabilities will strengthen fiscal risk governance. These guidelines and frameworks will be published in the next few weeks,” he said.
Furthermore, the process of issuing the first infrastructure bonds in 2025/26 remains in place.
“We are also exploring alternative financing instruments to allow pension funds, commercial banks, development banks and international financial institutions to participate in financing our infrastructure plans.
“These reforms are how we plan to leverage infrastructure investment to ease supply side constraints to the economy and improve access to social services the people get,” Godongwana said.
Employment boost
Meanwhile, in the 2025 Budget Overview, National Treasury said additional funding of some R8.8 billion has been allocated to public employment programmes (PEPs).
“Although the number of people employed was 16.8 million in the first quarter of 2025, South Africa’s unemployment rate remained very high at 32.9%.
“Public employment programmes are crucial to address persistently high unemployment,” National Treasury noted.
Key beneficiaries for the additional funding include:
The Department of Basic Education: R5.8 billion for the basic education schools employment initiative.
The Department of Sport, Arts and Culture: R350 000 000 for the creative industry stimulus.
The Department of Trade, Industry and Competition: R1.3 billion for the Social Employment Fund.
“In addition, National Treasury and the Presidency, working with other state institutions, have begun a comprehensive review of active labour market programmes, PEPs and the social support system to improve efficiency and effectiveness.
“With these efforts, government hopes to make significant strides in reducing unemployment,” the overview read. – SAnews.gov.za
President Cyril Ramaphosa’s engagement with United States President Donald Trump is expected to get underway at 5:30pm South African time – starting with a welcome of the visiting President at the Oval Office.
The Oval Office is the official workspace used exclusively by the President of the U.S. in Washington, D.C.
The two leaders aim to rebuild and strengthen their relations amid ongoing tensions, including the recent resettlement of white Afrikaners in America.
According to The Presidency of SA, President Trump is set to welcome South Africa’s Head of State at 5:30pm. This will be followed by President Ramaphosa signing the visitors’ book at 5:35pm.
At 5:45pm, the two leaders will participate in a working lunch, leading to their bilateral meeting scheduled for 6:45pm, which will include an opportunity for media interaction.
President Ramaphosa is expected to depart from the White House at 6:30pm.
Ahead of the meeting this afternoon, the President attended the 2025 Budget Speech virtually.
The South African delegation to Washington D.C. consists of several Cabinet Ministers, notable business figures, and prominent South Africans.
Included in the delegation are Minister of International Relations and Cooperation Ronald Lamola, Minister in the Presidency Khumbudzo Ntshavheni, Minister of Trade, Industry and Competition Ebrahim Patel, and Minister of Agriculture John Steenhuisen.
President Ramaphosa has leveraged President Trump’s passion for golf by inviting South African pro golfers Ernie Els and Retief Goosen to join the trip.
In addition, the President will be accompanied by Johann Rupert, the Founder of Richemont and Chairman of Remgro.
The delegation also includes Vice President of Business Unity South Africa (BUSA) Adrian Gore and President of the Congress of South African Trade Unions (COSATU) Zingiswa Losi.
They are currently in Washington, D.C. to offer strategic support to President Ramaphosa and the South African delegation.
Meanwhile, President Trump will be flanked by several key officials during his event.
These include Vice President JD Vance, Defence Secretary Pete Hegseth, Commerce Secretary Howard Lutnick, Deputy Secretary of State Christopher Landau, Chief of Staff Susie Wiles, Special Government Employee Elon Musk, and Dr Massad Boulos, who serves as a Senior Advisor for Africa as well as on Arab and Middle Eastern Affairs.
SAnews reported this morning that discussions will focus on revitalising bilateral relations, rethinking economic cooperation, and exploring new trade and investment opportunities that align with South Africa’s development goals.
President Ramaphosa arrived in the United States on Monday, landing at Andrews Air Force Base to a warm reception.
A red carpet was laid out, and ceremonial guards held the South African and United States flags as he was escorted to his motorcade, signaling the start of his visit with the honours fitting for a Head of State.
Upon his arrival at the hotel, he was greeted by the South African delegation and members of the media.
Since then, he has been engaging with his Ministers, including Mcebisi Jonas, the Special Envoy to the United States and the official representative of the President and the South African government.
Speaking to the media on Tuesday, the President appeared cheerful and optimistic.
He expressed that he was “ready and hopeful” for productive discussions at the Oval Office.
For the latest coverage on President Ramaphosa’s visit to the United States, follow SAgovnews on X, formerly known as Twitter. – SAnews.gov.za
Minister of Finance, Enoch Godongwana, will this afternoon, return to Parliament to re-table the 2025 Budget Review.
This decision follows the Minister’s recent announcement and subsequent request to the Speaker of the National Assembly to maintain the Value-Added Tax rate at its current level of 15 percent, reversing the previously proposed 0.5 percentage point increase presented in the 12 March budget.
“The revised budget will adhere to all established technical processes and consultations as set out in the Money Bills and Related Matters Act. This includes formal consultations with the Financial and Fiscal Commission, thorough consultations with all political parties within the Government of National Unity as well as Cabinet approval before presentation to Parliament,” National Treasury said.
Godongwana will deliver the 2025 Budget Speech during the National Assembly plenary at the Cape Town International Convention Centre at 2pm.
The National Treasury has worked on a new fiscal framework that will maintain the trajectory toward debt stabilisation, a crucial element in strengthening our public finances.
This process included:
Revising economic assumptions using the latest available data.
Generating a updated fiscal projects.
Recalculating revenue projections and tax implications.
Determining appropriate borrowing strategies.
Consolidating these elements into a coherent and sustainable fiscal framework.
The EU’s single market gives businesses access to 450 million consumers. But its rules and regulations can be complex and create barriers to entry and growth. The European Commission has introduced a new strategy to simplify rules, reduce bureaucracy and boost growth opportunities for businesses.
Source: United Kingdom – Executive Government & Departments
News story
Waste packaging company director pays high price in data fraud
A Birmingham-based director and his company has been ordered to pay a Proceeds of Crime confiscation order, fines and costs totalling £476,995.
An officer on inspection duty. Please note the photo is an example of EA’s work not directly from this case.
This follows an Environment Agency investigation into fraudulent entry of waste packaging data.
At Birmingham Crown Court on Friday 16 May 2025, Shaobo Qin, a director of EDU Case Ltd, pleaded guilty to fraud by false representation. He was given a 2 year prison sentence suspended for 18 months.
Qin, age 42, of Sutton Coldfield, West Midlands, was also ordered to pay a Proceeds of Crime confiscation order of £255,057. He must pay within 2 months or face 3 years in prison.
He was also disqualified as a director for 4 years and ordered to do 200 hours of unpaid work.
His company, EDU Case Ltd of Portway Road, Rowley Regis, was fined £200,000. The Environment Agency were also awarded £21,995 in investigation costs.
The court was told Qin’s company was a plastics and recycling exports enterprise. The offences were discovered by the Environment Agency towards the end of 2022.
The company, orchestrated by Qin, was deliberately and systematically entering false data on to the Environment Agency’s National Packaging Waste Database (NPWD) for non-existent waste exports.
This resulted in Qin receiving a benefit for himself and his company in the sum of approx. £255,000. He was arrested on Wednesday 10 January 2024 where he was interviewed by Environment Agency officers.
EDU Case were accredited to carry out plastic packaging exports and able to issue “evidence” of that activity in the form of tonnage figures on the database.
This evidence could be bought by businesses who are obliged to account for their plastic packaging waste under the Producer Responsibility Obligations (Packaging Waste) Regulations 2007.
An audit conducted by Environment Agency officers in 2023 and information following that work identified discrepancies between the amount of waste exported and the amount of evidence issued.
The false entries represented nearly two-thirds of the business’ entire trade in 2022 towards the end of that year.
As part of that audit, a legal notice was served on Qin and the company in September 2023.
This notice required the production of their evidence of plastic waste exports. In response, Qin sent a computer memory stick containing his business’ waste export evidence and a letter explaining a large discrepancy, described as an “overclaim.”
The letter stated that the company had carried out 1,239 metric tonnes of plastic waste exports in 2022, only 453.60 metric was genuine and that the majority of his trading, 785.40 metric tonnes was ‘a mistake.’
In sentencing the judge said this was without doubt deliberate offending and pre-planned. There had been a significant undermining of the regulatory regime.
He accepted that there had been a guilty plea entered at first opportunity and that money had been put aside to repay the financial benefit made. The company was also fined to mark the seriousness of the offending.
Sham Singh, Senior Environmental Crime Officer for the Environment Agency, said:
“This case shows that the Environment Agency will pursue individuals and their enterprises who profit illegally.
“This was a fraud on a large scale and undermines legitimate business and the investment and economic growth that go with it.
“We support legitimate businesses and are proactively supporting them by disrupting and stopping the criminal element backed up by the threat of tough enforcement as in this case.
“If anyone suspects that a company is doing something wrong, please contact the Environment Agency on 0800 80 70 60 or report it anonymously to Crimestoppers on 0800 555 111.”
The Charges
Shaobo Qin
Between 1st January 2022 and 31st January 2023 dishonestly and intending thereby to make a gain for himself or another, or to cause loss to another, or to expose another to the risk of loss, made a false representation to the online National Packaging Waste Database which was and which he knew was, or might be, untrue or misleading, namely, that the 785.4 tonnes of plastic waste that he claimed EDU Case UK Ltd had exported over that period, had all actually been exported when it had not, contrary to Sections 1 and 2 of the Fraud Act 2006.
EDU Case UK Limited (Company No. 08888722)
Between 1st January 2022 and 31st January 2023 dishonestly and intending thereby to make a gain for himself or another, or to cause loss to another, or to expose another to the risk of loss, made a false representation to the online National Packaging Waste Database which was and which he knew was, or might be, untrue or misleading, namely, that the 785.4 tonnes of plastic waste that EDU Case UK Ltd had exported over that period, had all actually been exported when it had not, contrary to Sections 1 and 2 of the Fraud Act 2006.
Background Information
The Packaging Producer Responsibility Regulations were introduced to oblige the producers of waste packaging such as plastic, glass and cardboard (e.g. supermarkets) to contribute towards the financial cost of recycling and the disposal of waste. Any large organisation that meets the criteria for this obligation is required to prove they have made such financial contributions by the purchasing of credits known as Packaging Recovery Notes (PRNs) or Packaging Export Recovery Notes (PERNs) from UK waste reprocessors and waste exporters.
This joint cybersecurity advisory (CSA) highlights a Russian state-sponsored cyber campaign targeting Western logistics entities and technology companies. This includes those involved in the coordination, transport, and delivery of foreign assistance to Ukraine. Since 2022, Western logistics entities and IT companies have faced an elevated risk of targeting by the Russian General Staff Main Intelligence Directorate (GRU) 85th Main Special Service Center (85th GTsSS), military unit 26165—tracked in the cybersecurity community under several names (see “Cybersecurity Industry Tracking”). The actors’ cyber espionage-oriented campaign, targeting technology companies and logistics entities, uses a mix of previously disclosed tactics, techniques, and procedures (TTPs). The authoring agencies expect similar targeting and TTP use to continue.
Executives and network defenders at logistics entities and technology companies should recognize the elevated threat of unit 26165 targeting, increase monitoring and threat hunting for known TTPs and indicators of compromise (IOCs), and posture network defenses with a presumption of targeting.
This cyber espionage-oriented campaign targeting logistics entities and technology companies uses a mix of previously disclosed TTPs and is likely connected to these actors’ wide scale targeting of IP cameras in Ukraine and bordering NATO nations.
The following authors and co-sealers are releasing this CSA:
United States National Security Agency (NSA)
United States Federal Bureau of Investigation (FBI)
United Kingdom National Cyber Security Centre (NCSC-UK)
Germany Federal Intelligence Service (BND) Bundesnachrichtendienst
Germany Federal Office for Information Security (BSI) Bundesamt für Sicherheit in der Informationstechnik
Germany Federal Office for the Protection of the Constitution (BfV) Bundesamt für Verfassungsschutz
Czech Republic Military Intelligence (VZ) Vojenské zpravodajství
Czech Republic National Cyber and Information Security Agency (NÚKIB) Národní úřad pro kybernetickou a informační bezpečnost
Czech Republic Security Information Service (BIS) Bezpečnostní informační služba
Poland Internal Security Agency (ABW) Agencja Bezpieczeństwa Wewnętrznego
Poland Military Counterintelligence Service (SKW) Służba Kontrwywiadu Wojskowego
United States Cybersecurity and Infrastructure Security Agency (CISA)
United States Department of Defense Cyber Crime Center (DC3)
United States Cyber Command (USCYBERCOM)
Australian Signals Directorate’s Australian Cyber Security Centre (ASD’s ACSC)
Canadian Centre for Cyber Security (CCCS)
Danish Defence Intelligence Service (DDIS) Forsvarets Efterretningstjeneste
Estonian Foreign Intelligence Service (EFIS) Välisluureamet
Estonian National Cyber Security Centre (NCSC-EE) Küberturvalisuse keskus
French Cybersecurity Agency (ANSSI) Agence nationale de la sécurité des systèmes d’information
Netherlands Defence Intelligence and Security Service (MIVD) Militaire Inlichtingen- en Veiligheidsdienst
For over two years, the Russian GRU 85th GTsSS, military unit 26165—commonly known in the cybersecurity community as APT28, Fancy Bear, Forest Blizzard, BlueDelta, and a variety of other identifiers—has conducted this campaign using a mix of known tactics, techniques, and procedures (TTPs), including reconstituted password spraying capabilities, spearphishing, and modification of Microsoft Exchange mailbox permissions. In late February 2022, multiple Russian state-sponsored cyber actors increased the variety of cyber operations for purposes of espionage, destruction, and influence—with unit 26165 predominately involved in espionage. [1] As Russian military forces failed to meet their military objectives and Western countries provided aid to support Ukraine’s territorial defense, unit 26165 expanded its targeting of logistics entities and technology companies involved in the delivery of aid. These actors have also targeted Internet-connected cameras at Ukrainian border crossings to monitor and track aid shipments. Note: This advisory uses the MITRE ATT&CK® for Enterprise framework, version 17. See Appendix A: MITRE ATT&CK tactics and techniques for a table of the threat actors’ activity mapped to MITRE ATT&CK tactics and techniques. This advisory uses the MITRE D3FEND® framework, version 1.0.
Description of Targets
The GRU unit 26165 cyber campaign against Western logistics providers and technology companies has targeted dozens of entities, including government organizations and private/commercial entities across virtually all transportation modes: air, sea, and rail. These actors have targeted entities associated with the following verticals within NATO member states, Ukraine, and at international organizations:
Defense Industry
Transportation and Transportation Hubs (ports, airports, etc.)
Maritime
Air Traffic Management
IT Services
In the course of the targeting lifecycle, unit 26165 actors identified and conducted follow-on targeting of additional entities in the transportation sector that had business ties to the primary target, exploiting trust relationships to attempt to gain additional access [T1199].
The actors also conducted reconnaissance on at least one entity involved in the production of industrial control system (ICS) components for railway management, though a successful compromise was not confirmed [TA0043].
The countries with targeted entities include the following, as illustrated in Figure 1:
Bulgaria
Czech Republic
France
Germany
Greece
Italy
Moldova
Netherlands
Poland
Romania
Slovakia
Ukraine
United States
Figure 1: Countries with Targeted Entities
Initial Access TTPs
To gain initial access to targeted entities, unit 26165 actors used several techniques to gain initial access to targeted entities, including (but not limited to):
The actors abused vulnerabilities associated with a range of brands and models of small office/home office (SOHO) devices to facilitate covert cyber operations, as well as proxy malicious activity via devices with geolocation in proximity to the target [T1665]. [2]
Credential Guessing/Brute Force
Unit 26165 actors’ credential guessing [T1110.001] operations in this campaign exhibit some similar characteristics to those disclosed in the previous CSA “Russian GRU Conducting Global Brute Force Campaign to Compromise Enterprise and Cloud Environments.” [3] Based on victim network investigations, the current iteration of this TTP employs a similar blend of anonymization infrastructure, including the use of Tor and commercial VPNs [T1090.003]. The actors frequently rotated the IP addresses used to further hamper detection. All observed connections were made via encrypted TLS [T1573].
Spearphishing
GRU unit 26165 actors’ spearphishing emails included links [T1566.002] leading to fake login pages impersonating a variety of government entities and Western cloud email providers’ webpages. These webpages were typically hosted on free third-party services or compromised SOHO devices and often used legitimate documents associated with thematically similar entities as lures. The subjects of spearphishing emails were diverse and ranged from professional topics to adult themes. Phishing emails were frequently sent via compromised accounts or free webmail accounts [T1586.002, T1586.003]. The emails were typically written in the target’s native language and sent to a single targeted recipient.
Some campaigns employed multi-stage redirectors [T1104] verifying IP-geolocation [T1627.001] and browser fingerprints [T1627] to protect credential harvesting infrastructure or provide multifactor authentication (MFA) [T1111] and CAPTCHA relaying capabilities [T1056]. Connecting endpoints failing the location checks were redirected to a benign URL [T1627], such as msn.com. Redirector services used include:
Webhook[.]site
FrgeIO
InfinityFree
Dynu
Mocky
Pipedream
Mockbin[.]org
The actors also used spearphishing to deliver malware (including HEADLACE and MASEPIE) executables [T1204.002] delivered via third-party services and redirectors [T1566.002], scripts in a mix of languages [T1059] (including BAT [T1059.003] and VBScript [T1059.005]) and links to hosted shortcuts [T1204.001].
CVE Usage
Throughout this campaign, GRU unit 26165 weaponized an Outlook NTLM vulnerability (CVE-2023-23397) to collect NTLM hashes and credentials via specially crafted Outlook calendar appointment invitations [T1187]. [4],[5] These actors also used a series of Roundcube CVEs (CVE-2020-12641, CVE-2020-35730, and CVE-2021-44026) to execute arbitrary shell commands [T1059], gain access to victim email accounts, and retrieve sensitive data from email servers [T1114].
Since at least fall 2023, the actors leveraged a WinRAR vulnerability (CVE-2023-38831) allowing for the execution of arbitrary code embedded in an archive as a means of initial access [T1659]. The actors sent emails with malicious attachments [T1566.001] or embedded hyperlinks [T1566.002] that downloaded a malicious archive prepared using this CVE.
Post-Compromise TTPs
After an initial compromise using one of the above techniques, unit 26165 actors conducted contact information reconnaissance to identify additional targets in key positions [T1589.002]. The actors also conducted reconnaissance of the cybersecurity department [T1591], individuals responsible for coordinating transport [T1591.004], and other companies cooperating with the victim entity [T1591.002].
The actors used native commands and open source tools, such as Impacket and PsExec, to move laterally within the environment [TA0008]. Multiple Impacket scripts were used as .exe files, in addition to the python versions, depending on the victim environment. The actors also moved laterally within the network using Remote Desktop Protocol (RDP) [T1021.001] to access additional hosts and attempt to dump Active Directory NTDS.dit domain databases [T1003.003] using native Active Directory Domain Services commands, such as in Figure 2: Example Active Directory Domain Services command:
C:Windowssystem32ntdsutil.exe "activate instance ntds" ifm "create full C:temp[a-z]{3}" quit quit
Figure 2: Example Active Directory Domain Services command
Additionally, GRU unit 26165 actors used the tools Certipy and ADExplorer.exe to exfiltrate information from the Active Directory. The actors installed python [T1059.006] on infected machines to enable the execution of Certipy. Accessed files were archived in .zip files prior to exfiltration [T1560]. The actors attempted to exfiltrate archived data via a previously dropped OpenSSH binary [T1048].
Incident response investigations revealed that the actors would take steps to locate and exfiltrate lists of Office 365 users and set up sustained email collection. The actors used manipulation of mailbox permissions [T1098.002] to establish sustained email collection at compromised logistics entities, as detailed in a Polish Cybercommand blog. [6]
After initial authentication, unit 26165 actors would change accounts’ folder permissions and enroll compromised accounts in MFA mechanisms to increase the trust-level of compromised accounts and enable sustained access [T1556.006]. The actors leveraged python scripts to retrieve plaintext passwords via Group Policy Preferences [T1552.006] using Get-GPPPassword.py and a modified ldap-dump.py to enumerate the Windows environment [T1087.002] and conduct a brute force password spray [T1110.003] via Lightweight Directory Access Protocol (LDAP). The actors would additionally delete event logs through the wevtutil utility [T1070.001].
After gaining initial access to the network, the actors pursued further access to accounts with access to sensitive information on shipments, such as train schedules and shipping manifests. These accounts contained information on aid shipments to Ukraine, including:
sender,
recipient,
train/plane/ship numbers,
point of departure,
destination,
container registration numbers,
travel route, and
cargo contents.
In at least one instance, the actors attempted to use voice phishing [T1566.004] to gain access to privileged accounts by impersonating IT staff.
Malware
Unit 26165’s use of malware in this campaign ranged from gaining initial access to establishing persistence and exfiltrating data. In some cases, the attack chain resulted in multiple pieces of malware being deployed in succession. The actors used dynamic link library (DLL) search order hijacking [T1574.001] to facilitate malware execution. There were a number of known malware variants tied to this campaign against logistics sector victims, including:
While other malware variants, such as OCEANMAP and STEELHOOK, [8] were not directly observed targeting logistics or IT entities, their deployment against victims in other sectors in Ukraine and other Western countries suggest that they could be deployed against logistics and IT entities should the need arise.
Persistence
In addition to the abovementioned mailbox permissions abuse, unit 26165 actors also used scheduled tasks [T1053.005], run keys [T1547.001], and placed malicious shortcuts [T1547.009] in the startup folder to establish persistence.
Exfiltration
GRU unit 26165 actors used a variety of methods for data exfiltration that varied based on the victim environment, including both malware and living off the land binaries. PowerShell commands [T1059.001] were often used to prepare data for exfiltration; for example, the actors prepared zip archives [T1560.001] for upload to their own infrastructure.
The actors also used server data exchange protocols and Application Programming Interfaces (APIs) such as Exchange Web Services (EWS) and Internet Message Access Protocol (IMAP) [T1114.002] to exfiltrate data from email servers. In multiple instances, the actors used periodic EWS queries [T1119] to collect new emails sent and received since the last data exfiltration [T1029]. The actors typically used infrastructure in close geographic proximity to the victim. Long gaps between exfiltration, the use of trusted and legitimate protocols, and the use of local infrastructure allowed for long-term collection of sensitive data to go undetected.
Connections to Targeting of IP Cameras
In addition to targeting logistics entities, unit 26165 actors likely used access to private cameras at key locations, such as near border crossings, military installations, and rail stations, to track the movement of materials into Ukraine. The actors also used legitimate municipal services, such as traffic cams.
The actors targeted Real Time Streaming Protocol (RTSP) servers hosting IP cameras primarily located in Ukraine as early as March 2022 in a large-scale campaign, which included attempts to enumerate devices [T1592] and gain access to the cameras’ feeds [T1125]. Actor-controlled servers sent RTSP DESCRIBE requests destined for RTSP servers, primarily hosting IP cameras [T1090.002]. The DESCRIBE requests were crafted to obtain access to IP cameras located on logically distinct networks from that of the routers that received the request. The requests included Base64-encoded credentials for the RTSP server, which included publicly documented default credentials and likely generic attempts to brute force access to the devices [T1110]. An example of an RTSP request is shown in Figure 3.
Successful RTSP 200 OK responses contained a snapshot of the IP camera’s image and IP camera metadata such as video codec, resolution, and other properties depending on the IP camera’s configuration.
From a sample available to the authoring agencies of over 10,000 cameras targeted via this effort, the geographic distribution of victims showed a strong focus on cameras in Ukraine and border countries, as shown in Table 1:
Table 1: Geographic distribution of targeted IP cameras
Country
Percentage of Total Attempts
Ukraine
81.0%
Romania
9.9%
Poland
4.0%
Hungary
2.8%
Slovakia
1.7%
Others
0.6%
Mitigation Actions
General Security Mitigations
Architecture and Configuration
Employ appropriate network segmentation [D3-NI] and restrictions to limit access and utilize additional attributes (such as device information, environment, and access path) when making access decisions [D3-AMED].
Consider Zero Trust principles when designing systems. Base product choices on how those products can solve specific risks identified as part of the end-to-end design. [9]
Ensure that host firewalls and network security appliances (e.g., firewalls) are configured to only allow legitimately needed data flows between devices and servers to prevent lateral movement [D3-ITF]. Alert on attempts to connect laterally between host devices or other unusual data flows.
Use automated tools to audit access logs for security concerns and identify anomalous access requests [D3-RAPA].
For organizations using on-premises authentication and email services, block and alert on NTLM/SMB requests to external infrastructure [D3-OTF].
Utilize endpoint, detection, and response (EDR) and other cybersecurity solutions on all systems, prioritizing high value systems with large amounts of sensitive data such as mail servers and domain controllers [D3-PM] first.
Perform threat and attack modeling to understand how sensitive systems may be compromised within an organization’s specific architecture and security controls. Use this to develop a monitoring strategy to detect compromise attempts and select appropriate products to enact this strategy.
Collect and monitor Windows logs for certain events, especially for events that indicate that a log was cleared unexpectedly [D3-SFA].
Enable optional security features in Windows to harden endpoints and mitigate initial access techniques [D3-AH]:
Enable attack surface reduction rules to prevent executable content from email [D3-ABPI].
Enable attack surface reduction rules to prevent execution of files from globally writeable directories, such as Downloads or %APPDATA% [D3-EAL].
Unless users are involved in the development of scripts, limit the local execution of scripts (such as batch scripts, VBScript, JScript/JavaScript, and PowerShell [10]) to known scripts [D3-EI], and audit execution attempts.
Disable Windows Host Scripting functionality and configure PowerShell to run in Constrained mode [D3-ACH].
Where feasible, implement allowlisting for applications and scripts to limit execution to only those needed for authorized activities, blocking all others by default [D3-EAL].
Consider using open source SIGMA rules as a baseline for detecting and alerting on suspicious file execution or command parameters [D3-PSA].
Use services that provide enhanced browsing services and safe link checking [D3-URA]. Significant reductions in successful spearphishing attempts were noted when email providers began offering link checking and automatic file detonation to block malicious content.
Where possible, block logins from public VPNs, including exit nodes in the same country as target systems, or, if they need to be allowed, alert on them for further investigation. Most organizations should not need to allow incoming traffic, especially logins to systems, from VPN services [D3-NAM].
Educate users to only use approved corporate systems for relevant government and military business and avoid the use of personal accounts on cloud email providers to conduct official business. Network administrators should also audit both email and web request logs to detect such activity.
Many organizations may not need to allow outgoing traffic to hosting and API mocking services, which are frequently used by GRU unit 26165. Organizations should consider alerting on or blocking the following services, with exceptions allowlisted for legitimate activity [D3-DNSDL].
*.000[.]pe
*.1cooldns[.]com
*.42web[.]io
*.4cloud[.]click
*.accesscan[.]org
*.bumbleshrimp[.]com
*.camdvr[.]org
*.casacam[.]net
*.ddnsfree[.]com
*.ddnsgeek[.]com
*.ddnsguru[.]com
*.dynuddns[.]com
*.dynuddns[.]net
*.free[.]nf
*.freeddns[.]org
*.frge[.]io
*.glize[.]com
*.great-site[.]net
*.infinityfreeapp[.]com
*.kesug[.]com
*.loseyourip[.]com
*.lovestoblog[.]com
*.mockbin[.]io
*.mockbin[.]org
*.mocky[.]io
*.mybiolink[.]io
*.mysynology[.]net
*.mywire[.]org
*.ngrok[.]io
*.ooguy[.]com
*.pipedream[.]net
*.rf[.]gd
*.urlbae[.]com
*.webhook[.]site
*.webhookapp[.]com
*.webredirect[.]org
*.wuaze[.]com
Heuristic detections for web requests to new subdomains, including of the above providers, may uncover malicious phishing activity [D3-DNRA]. Logging the requests for each sub-domain requested by users on a network, such as in DNS or firewall logs, may enable system administrators to identify new targeting and victims.
Identity and Access Management
Organizations should take measures to ensure strong access controls and mitigate against common credential theft techniques:
Use MFA with strong factors, such as passkeys or PKI smartcards, and require regular re-authentication [D3-MFA]. [11], [12] Strong authentication factors are not guessable using dictionary techniques, so they resist brute force attempts.
Implement other mitigations for privileged accounts: including limiting the number of admin accounts, considering using hardware MFA tokens, and regularly reviewing all privileged user accounts [D3-JFAPA].
Separate privileged accounts by role and alert on misuse of privileged accounts [D3-UAP]. For example, email administrator accounts should be different from domain administrator accounts.
Reduce reliance on passwords; instead, consider using services like single sign-on [D3-TBA].
For organizations using on-premises authentication and email services, plan to disable NTLM entirely and migrate to more robust authentication processes such as PKI certificate authentication.
Do not store passwords in Group Policy Preferences (GPP). Remove all passwords previously included in GPP and change all passwords on the corresponding accounts [D3-CH]. [13]
Use account throttling or account lockout [D3-ANET]:
Throttling is preferred to lockout. Throttling progressively increases time delay between successive login attempts.
Account lockout can leave legitimate users unable to access their accounts and requires access to an account recovery process.
Account lockout can provide a malicious actor with an easy way to launch a Denial of Service (DoS).
If using lockout, then allowing 5 to 10 attempts before lockout is recommended.
Use a service to check for compromised passwords before using them [D3-SPP]. For example, “Have I Been Pwned” can be used to check whether a password has been previously compromised without disclosing the potential password.
Change all default credentials [D3-CRO] and disable protocols that use weak authentication (e.g., clear-text passwords or outdated and vulnerable authentication or encryption protocols) or do not support multi-factor authentication [D3-ACH] [D3-ET]. Always configure access controls carefully to ensure that only well-maintained and well-authenticated accounts have access. [13]
IP Camera Mitigations
The following mitigation techniques for IP cameras can be used to defend against this type of malicious activity:
Ensure IP cameras are currently supported. Replace devices that are out of support.
Apply security patches and firmware updates to all IP cameras [D3-SU].
Disable remote access to the IP camera, if unnecessary [D3-ITF].
Ensure cameras are protected by a security appliance, if possible, such as by using a firewall to prevent communication with the camera from IP addresses not on an allowlist [D3-NAM].
If remote access to IP camera feeds is required, ensure authentication is enabled [D3-AA] and use a VPN to connect remotely [D3-ET]. Use MFA for management accounts if supported [D3-MFA].
Disable Universal Plug and Play (UPnP), Peer-to-Peer (P2P), and Anonymous Visit features on IP cameras and routers [D3-NI].
Turn off other ports/services not in use (e.g., FTP, web interface, etc.) [D3-ACH].
If supported, enable authenticated RTSP access only [D3-AA].
Review all authentication activity for remote access to make sure it is valid and expected [D3-UBA]. Investigate any unexpected or unusual activity.
Audit IP camera user accounts to ensure they are an accurate reflection of your organization and that they are being used as expected [D3-UAP].
Configure, tune, and monitor logging—if available—on the IP camera.
Indicators of Compromise (IOCs)
Note: Specific IoCs may no longer be actor controlled, may themselves be compromised infrastructure or email accounts, or may be shared infrastructure such as public VPN or Tor exit nodes. Care should be taken when basing triaging logs or developing detection rules on these indicators. GRU unit 26165 almost certainly uses extensive further infrastructure and TTPs not specifically listed in this report.
Utilities and scripts
Legitimate utilities
Unauthorized or unusual use of the following legitimate utilities can be an indication of a potential compromise:
ntdsutil – A legitimate Windows executable used by threat actors to export contents of Active Directory
wevtutil – A legitimate Windows executable used by threat actors to delete event logs
vssadmin – A legitimate Windows executable possibly used by threat actors to make a copy of the server’s C: drive
ADexplorer – A legitimate window executable to view, edit, and backup Active Directory Certificate Services
OpenSSH – The Windows version of a legitimate open source SSH client
schtasks – A legitimate Windows executable used to create persistence using scheduled tasks
whoami – A legitimate Windows executable used to retrieve the name of the current user
tasklist – A legitimate Windows executable used to retrieve the list of running processes
hostname – A legitimate Windows executable used to retrieve the device name
arp – A legitimate Windows executable used to retrieve the ARP table for mapping the network environment
systeminfo – A legitimate Windows executable used to retrieve a comprehensive summary of device and operating system information
net – A legitimate Windows executable used to retrieve detailed user information
wmic – A legitimate Windows executable used to interact with Windows Management Instrumentation (WMI), such as to retrieve letters assigned to logical partitions on storage drives
cacls – A legitimate Windows executable used to modify permissions on files
icacls – A legitimate Windows executable used to modify permissions to files and handle integrity levels and ownership
ssh – A legitimate Windows executable used to establish network shell connections
reg – A legitimate Windows executable used to add to or modify the system registry
Note: Additional heuristics are needed for effective hunting for these and other living off the land (LOTL) binaries to avoid being overwhelmed by false positives if these legitimate management tools are used regularly. See the joint guide, Identifying and Mitigating Living Off the Land Techniques, for guidance on developing a multifaceted cybersecurity strategy that enables behavior analytics, anomaly detection, and proactive hunting, which are part of a comprehensive approach to mitigating cyber threats that employ LOTL techniques.
Malicious scripts
Certipy – An open source python tool for enumerating and abusing Active Directory Certificate Services
Get-GPPPassword.py – An open source python script for finding insecure passwords stored in Group Policy Preferences
ldap-dump.py – A script for enumerating user accounts and other information in Active Directory
Hikvision backdoor string: “YWRtaW46MTEK”
Suspicious command lines
While the following utilities are legitimate, and using them with the command lines shown may also be legitimate, these command lines are often used during malicious activities and could be an indication of a compromise:
edge.exe “-headless-new -disable-gpu”
ntdsutil.exe “activate instance ntds” ifm “create full C:temp[a-z]{3}” quit quit
Disclaimer: These IP addresses date June 2024 through August 2024. The authoring agencies recommend organizations investigate or vet these IP addresses prior to taking action, such as blocking.
June 2024
July 2024
August 2024
192[.]162[.]174[.]94
207[.]244[.]71[.]84
31[.]135[.]199[.]145
79[.]184[.]25[.]198
91[.]149[.]253[.]204
103[.]97[.]203[.]29
162[.]210[.]194[.]2
31[.]42[.]4[.]138
79[.]185[.]5[.]142
91[.]149[.]254[.]75
209[.]14[.]71[.]127
46[.]112[.]70[.]252
83[.]10[.]46[.]174
91[.]149[.]255[.]122
109[.]95[.]151[.]207
46[.]248[.]185[.]236
83[.]168[.]66[.]145
91[.]149[.]255[.]19
64[.]176[.]67[.]117
83[.]168[.]78[.]27
91[.]149[.]255[.]195
64[.]176[.]69[.]196
83[.]168[.]78[.]31
91[.]221[.]88[.]76
64[.]176[.]70[.]18
83[.]168[.]78[.]55
93[.]105[.]185[.]139
64[.]176[.]70[.]238
83[.]23[.]130[.]49
95[.]215[.]76[.]209
64[.]176[.]71[.]201
83[.]29[.]138[.]115
138[.]199[.]59[.]43
70[.]34[.]242[.]220
89[.]64[.]70[.]69
147[.]135[.]209[.]245
70[.]34[.]243[.]226
90[.]156[.]4[.]204
178[.]235[.]191[.]182
70[.]34[.]244[.]100
91[.]149[.]202[.]215
178[.]37[.]97[.]243
70[.]34[.]245[.]215
91[.]149[.]203[.]73
185[.]234[.]235[.]69
70[.]34[.]252[.]168
91[.]149[.]219[.]158
192[.]162[.]174[.]67
70[.]34[.]252[.]186
91[.]149[.]219[.]23
194[.]187[.]180[.]20
70[.]34[.]252[.]222
91[.]149[.]223[.]130
212[.]127[.]78[.]170
70[.]34[.]253[.]13
91[.]149[.]253[.]118
213[.]134[.]184[.]167
70[.]34[.]253[.]247
91[.]149[.]253[.]198
70[.]34[.]254[.]245
91[.]149[.]253[.]20
Detections
Customized NTLM listener
rule APT28_NTLM_LISTENER {
meta:
description = "Detects NTLM listeners including APT28's custom one"
( any of ($sysinternals_*) and any of ($psexec_*) )
or
( 2 of ($network_*) and 2 of ($psexec_*))
)
}
The cybersecurity industry provides overlapping cyber threat intelligence, IOCs, and mitigation recommendations related to GRU unit 26165 cyber actors. While not all encompassing, the following are the most notable threat group names related under MITRE ATT&CK G0007 and commonly used within the cybersecurity community:
Note: Cybersecurity companies have different methods of tracking and attributing cyber actors, and this may not be a 1:1 correlation to the U.S. government’s understanding for all activity related to these groupings.
Further Reference
To search for the presence of malicious email messages targeting CVE-2023-23397, network defenders may consider using the script published by Microsoft: https://aka.ms/CVE-2023-23397ScriptDoc.
The information and opinions contained in this document are provided "as is" and without any warranties or guarantees. Reference herein to any specific commercial products, process, or service by trade name, trademark, manufacturer, or otherwise, does not constitute or imply its endorsement, recommendation, or favoring by the United States Government, and this guidance shall not be used for advertising or product endorsement purposes.
Purpose
This document was developed in furtherance of the authoring agencies’ cybersecurity missions, including their responsibilities to identify and disseminate threats and to develop and issue cybersecurity specifications and mitigations. This information may be shared broadly to reach all appropriate stakeholders.
Contact
United States organizations
National Security Agency (NSA)
Cybersecurity and Infrastructure Security Agency (CISA) and Federal Bureau of Investigation (FBI)
U.S. organizations are encouraged to reporting suspicious or criminal activity related to information in this advisory to CISA via the agency’s Incident Reporting System, its 24/7 Operations Center (report@cisa.gov or 888-282-0870), or your local FBI field office. When available, please include the following information regarding the incident: date, time, and location of the incident; type of activity; number of people affected; type of equipment user for the activity; the name of the submitting company or organization; and a designated point of contact.
Department of Defense Cyber Crime Center (DC3)
United Kingdom organizations
Germany organizations
Czech Republic organizations
Poland organizations
Australian organizations
Visit cyber.gov.au or call 1300 292 371 (1300 CYBER 1) to report cybersecurity incidents and access alerts and advisories.
Canadian organizations
Estonia organizations
French organizations
French organizations are encouraged to report suspicious activity or incident related to information found in this advisory by contacting ANSSI/CERT-FR by email at cert-fr@ssi.gouv.fr or by phone at: 3218 or +33 9 70 83 32 18.
See Table 2 through Table 14 for all the threat actor tactics and techniques referenced in this advisory.
Conducted follow-on targeting of additional entities in the transportation sector that had business ties to the primary target, exploiting trust relationships to attempt to gain additional access.
Sent requests with Base64-encoded credentials for the RTSP server, which included publicly documented default credentials, and likely were generic attempts to brute force access to the devices.
Abused SOHO devices to facilitate covert cyber operations, as well as proxy malicious activity, via devices with geolocation in proximity to the target.
External actors could send specially crafted emails that cause a connection from the victim to an untrusted location of the actor’s control, leaking the Net-NTLMv2 hash of the victim that the actor could then relay to another service to authenticate as the victim.
An XSS issue was discovered in Roundcube Webmail before 1.2.13, 1.3.x before 1.3.16 and 1.4.x before 1.4.10, where a plaintext email message with JavaScript in a link reference element is mishandled by linkref_addindex in rcube_string_replacer.php.
Roundcube Webmail before 1.4.4 allows arbitrary code execution via shell metacharacters in a configuration setting for im_convert_path or im_identify_path in rcube_image.php.
Appendix C: MITRE D3FEND Countermeasures
Table 16: MITRE D3FEND countermeasures
Countermeasure Title
ID
Details
Network Isolation
Employ appropriate network segmentation. Disable Universal Plug and Play (UPnP), Peer-to-Peer (P2P), and Anonymous Visit features on IP cameras and routers.
Access Mediation
Limit access and utilize additional attributes (such as device information, environment, and access path) when making access decisions. Configure access controls carefully to ensure that only well-maintained and well-authenticated accounts have access.
Inbound Traffic Filtering
Implement host firewall rules to block connections from other devices on the network, other than from authorized management devices and servers, to prevent lateral movement.
Resource Access Pattern Analysis
Use automated tools to audit access logs for security concerns and identify anomalous access requests.
Outbound Traffic Filtering
Block NTLM/SMB requests to external infrastructure.
Platform Monitoring
Install EDR/logging/cybersecurity solutions onto high value systems with large amounts of sensitive data such as mail servers and domain controllers.
System File Analysis
Collect and monitor Windows logs for certain events, especially for events that indicate that a log was cleared unexpectedly.
Application Hardening
Enable optional security features in Windows to harden endpoints and mitigate initial access techniques.
Application-based Process Isolation
Enable attack surface reduction rules to prevent executable content from email.
Executable Allowlisting
Enable attack surface reduction rules to prevent execution of files from globally writeable directories, such as Downloads or %APPDATA%.
Execution Isolation
Unless users are involved in the development of scripts, limit the execution of scripts (such as batch, JavaScript, and PowerShell) to known scripts.
Application Configuration Hardening
Disable Windows Host Scripting functionality and configure PowerShell to run in Constrained mode. Disable protocols that use weak authentication (e.g., clear-text passwords, or outdated and vulnerable authentication or encryption protocols) or do not support multi-factor authentication. Turn off other ports/services not in use (e.g., FTP, web interface, etc.).
Process Spawn Analysis
Use open source SIGMA rules as a baseline for detecting and alerting on suspicious file execution or command parameters.
URL Reputation Analysis
Use services that provide enhanced browsing services and safe link checking.
Network Access Mediation
Do not allow incoming traffic, especially logins to systems, from public VPN services. Where possible, logins from public VPNs, including exit nodes in the same country as target systems, should be blocked or, if allowed, alerted on for further investigation. Ensure cameras and other Internet of Things devices are protected by a security appliance, if possible.
Do not allow outgoing traffic to hosting and API mocking services frequently used by malicious actors.
Domain Name Reputation Analysis
Heuristic detections for web requests to new subdomains may uncover malicious phishing activity. Logging the requests for each sub-domain requested by users on a network, such as in DNS or firewall logs, may enable system administrators to identify new targeting and victims.
Multi-factor Authentication
Use MFA with strong factors and require regular re-authentication, especially for management accounts.
Implement other mitigations for privileged accounts: including limiting the number of admin accounts, considering using hardware MFA tokens, and regularly reviewing all privileged user accounts.
User Account Permissions
Separate privileged accounts by role and alert on misuse of privileged accounts. Audit user accounts on all devices to ensure they are an accurate reflection of your organization and that they are being used as expected.
Token-based Authentication
Reduce reliance on passwords; instead, consider using services like single sign-on.
Credential Hardening
Do not store passwords in Group Policy Preferences (GPP). Remove all passwords previously included in GPP and change all passwords on the corresponding accounts.
Authentication Event Threshholding
Use account throttling or account lockout. Throttling progressively increases time delay between successive login attempts. If using account lockout, allow between 5 to 10 attempts before lockout.
Strong Password Policy
Use a service to check for compromised passwords before using them.
Credential Rotation
Change all default credentials.
Encrypted Tunnels
Disable protocols that use weak authentication (e.g., clear-text passwords, or outdated and vulnerable authentication or encryption protocols). Use a VPN for remote connections to devices.
Software Update
Apply security patches and firmware updates to all devices. Ensure devices are currently supported. Replace devices that are end-of-life.
Agent Authentication
Ensure authentication is enabled for remote access to devices. If supported on IP cameras, enable authenticated RTSP access only.
User Behavior Analysis
Review all authentication activity for remote access to make sure it is valid and expected. Investigate any unexpected or unusual activity.
In coordination with the Federal Government of Somalia, U.S. Africa Command (AFRICOM) conducted airstrikes against al Shabaab on May 17, 2025.
The airstrikes occurred approximately 200 km north of Mogadishu near Mabaax, Somalia.
Al Shabaab has proven both its will and capability to attack U.S. forces.
AFRICOM, alongside the Federal Government of Somalia and Somali Armed Forces, continues to take action to degrade al Shabaab’s ability to plan and conduct attacks that threaten the U.S. homeland, our forces, and our citizens abroad.
Specific details about units and assets will not be released to ensure continued operations security.
WASHINGTON, May 21, 2025 (GLOBE NEWSWIRE) — Rhizome, the leading climate resilience planning platform for the power grid, today announced the close of a $6.5 million oversubscribed Seed funding round led by Base10 Partners. The company will use the funding to scale their AI platform and team as they continue to help utilities protect their grid and customers from the impacts of extreme weather events. Rhizome will focus on building out its existing platform, new product research and development, and expanding its geographic footprint domestically and internationally.
Rhizome, launched in 2023, supports utilities by helping them model the impacts of increasingly severe extreme weather events against their systems. By leveraging AI against climate risk data and digital representations of the physical grid, Rhizome’s platform identifies vulnerabilities and prioritizes resilience investments and upgrades. This fundraise will further fuel Rhizome’s mission to integrate climate intelligence into utility planning workflows at a time when grid resilience has never been more crucial.
Extreme weather events are rapidly increasing in frequency, intensity, and cost. In 2024 alone, the U.S. faced 27 billion-dollar climate and weather disasters, totaling over $182 billion in damages. For electric utilities, the stakes are particularly high. A McKinsey analysis found that major storms have cost individual utilities an average of $1.4 billion over a 20-year period, underscoring the urgent need for smarter, more resilient infrastructure planning in the face of growing climate volatility.
At the same time, electric utility capital expenditures hit a record $179 billion, with projections rising to $194 billion in 2025. In an environment where every dollar counts, utilities need advanced planning tools that can simulate a range of climate scenarios — removing the guesswork from resilience planning and helping every dollar go further.
“We set out to partner with investors who deeply understand the power sector and share our commitment to solving pressing climate resilience challenges,” said Mishal Thadani, Co-founder and CEO of Rhizome. “This funding allows us to scale our work and continue refining a suite of products that help utilities prepare the grid for an increasingly uncertain future.”
“Resilience is unquestionably one of the most important factors in ensuring a safe, reliable power grid,” said Rexhi Dollaku, General Partner at Base10 Partners. “Mish, Rahul, and the team bring the right mix of vision, urgency, and technical depth to solve this challenge, and we’re proud to support them.”
In just under two years, Rhizome has developed and commercialized a suite of mission-specific products used by electric utilities in diverse geographical regions. Its flagship product, gridADAPT, supports long-term infrastructure planning by helping utilities prioritize investments that improve reliability and resilience. This was followed by the launch of gridFIRM, a first-of-its-kind platform for wildfire risk mitigation, and most recently, gridCAVA –– an affordable climate vulnerability assessment tool designed specifically for municipal and cooperative utilities. Built on Rhizome’s scalable, cloud-based Aspen platform, these tools round out a powerful portfolio of climate resilience planning tools designed to model current and future climate risk against utility infrastructure, available to utilities across Rhizome’s expanding geographical footprint.
Rhizome is expanding its platform, growing its team, and partnering with more utilities to strengthen resilience in the face of climate-driven threats. Contact Rhizome or visit here to learn more about the company’s expanding portfolio of climate risk solutions.
About Rhizome Rhizome is an AI-powered software platform that helps utilities identify vulnerabilities from climate threats, quantify risk at high resolutions, and measure the economic and social benefits of grid-enhancing investments. Rhizome provides the highest standard of equitable climate risk mitigation to ensure that communities and businesses are protected against intensifying extreme weather events.
About Base10 Partners Founded by Adeyemi Ajao and TJ Nahigian, Base10 is a San Francisco-based venture capital fund investing in founders who believe purpose is key to profits and companies that are automating sectors of the Real Economy, including transportation, retail, logistics, and construction. Through its program, The Advancement Initiative, Base10 aims to donate 50% of profits to underfunded colleges and universities to support financial aid and other key initiatives. Portfolio companies include Notion, Figma, Nubank, Stripe, Motive, Chili Piper, and Popmenu. Connect via base10.vc.
SINGAPORE, May 21, 2025 (GLOBE NEWSWIRE) — Bitcoin has officially shattered the long-anticipated $100,000 barrier, marking a historic milestone for the crypto market. As shown in the latest TradingView chart, BTC continues to push higher, riding the upper edge of the Bollinger Bands with no signs of slowing down.
While the bull run creates exciting opportunities, traders are now facing a critical question: Which platform is best positioned to help them capitalize on this volatility?
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Disclaimer: This content is provided by BexBackThe 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
VICTORIA, Seychelles, May 21, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, today announced an industry-disrupting partnership with The Open Network (TON) that introduces a $1 million reward pool campaign and fundamentally challenges established exchange revenue models. Launching today and running through June 20, the “TON Triumph” campaign eliminates all trading fees on TON pairs while offering staking returns that dwarf typical yields by up to 100 times.
In an unprecedented move that signals a significant shift in exchange competition strategies, MEXC will offer new users access to staking opportunities with up to 400% APR on TON tokens—creating what analysts describe as the most aggressive user acquisition campaign in the cryptocurrency exchange sector this year.
“This partnership represents a strategic inflection point for both the TON ecosystem and the broader exchange landscape,” said Tracy Jin, COO of MEXC. “By eliminating all typical entry costs into TON trading for a full month while simultaneously offering returns that outpace all competitors, we’re not simply running a promotion—we’re fundamentally changing how users engage with emerging Layer-1 ecosystems.”
Campaign Transforms Market Access and Investment Returns
The 30-day campaign introduces multiple disruptive elements that directly challenge other exchanges’ TON market dominance:
Zero-Fee Trading Structure: Complete elimination of fees on TON/USDT, TON/USDC, and TON/EUR spot pairs, TONUSDT futures, and all TON/USDE network withdrawals—removing traditional revenue mechanisms that have defined exchange business models.
Industry-Leading APR: New users can stake TON tokens to earn up to 400% APR, positioning the offering at 100 times higher than typical cryptocurrency staking returns and several hundred times above traditional banking products.
Democratized Trading Access: Zero-fee structure gives retail traders access to the same economics previously available only to professional and institutional traders, significantly leveling the playing field.
Limited-Time, First-Come Allocation: High-yield staking pools operate on a first-come, first-served basis with participants limited to 250 TON tokens per user, creating immediate urgency for early participation.
The campaign also includes passive rewards of up to 8% daily APR for USDE holders, spot trading rewards from a pool of 32,500 TON, and a futures trading competition with 100,000 USDT in bonuses.
TON Ecosystem Expansion and Infrastructure Advancement
This partnership is pivotal for The Open Network, which continues to gain momentum through its connection to Telegram’s 900+ million users and growing developer ecosystem.
The collaboration represents a significant leap forward in TON’s accessibility and adoption curve. By drastically reducing barriers to entry while providing exceptional incentives, the campaign accelerates the integration of new participants into the TON ecosystem, coinciding precisely with the network’s rapidly expanding technical capabilities and use cases.
The campaign also showcases MEXC’s platform capabilities, demonstrating advanced infrastructure that can handle zero-fee trading across multiple markets simultaneously while managing high-volume staking operations with variable APR structures.
Time-Sensitive Opportunity with Global Access
The $1 million in rewards is available exclusively during the 30-day window, with certain high-value components like the 400% APR staking pool starting on May 21th and operating on a capped allocation basis. MEXC has created a streamlined onboarding process that allows new users to complete registration and KYC verification in minutes, with the campaign accessible to eligible participants globally through both web and mobile interfaces.
About MEXC Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding. MEXC Official Website| X | Telegram |How to Sign Up on MEXC
About TON The Open Network (TON) is a fully decentralized layer-1 blockchain designed for mass adoption. Originally conceived by Telegram and now developed by the open TON Community, the network offers exceptional scalability, accessibility, and ease of use.
Risk Disclaimer: The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.
Disclaimer: This is a paid post and is provided by MEXC. 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.
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KUALA LUMPUR, MALAYSIA, May 21, 2025 (GLOBE NEWSWIRE) — TMD Energy Limited (the “Company” or “TMDEL”) (NYSE American: TMDE), together with its subsidiaries is a Malaysia and Singapore based services provider engaged in integrated bunkering services which involves ship-to-ship transfer of marine fuels, ship management services and vessel chartering services, today announced a strategic expansion into oil waste collection, marking a significant enhancement of its Environmental, Social, and Governance (ESG) commitments. This initiative aims to collect sludge oil and used cooking oil and sell to third-party partners for processing into biodiesel, which also helps diversify the Company’s revenue streams.
Following a successful Initial Public Offering, the Company is poised to leverage its extensive logistics network and industry expertise to meet the increasing demand for sustainable waste disposal. It plans to collect residual oils from maritime operators and the food industry, facilitating their conversion into cleaner biodiesel. This circular economy approach not only mitigates greenhouse gas emissions but also supports Malaysia’s national commitment to renewable energy adoption.
Leadership in Sustainable Innovation
The biodiesel market in Malaysia, supported by government incentives, presents substantial growth opportunities. TMDEL’s entry into this sector aligns with evolving regulatory frameworks and the corporate demand for eco-conscious partnerships. “Our expansion signifies a strategic shift toward long-term environmental stewardship,” stated Dato’ Sri Kam Choy Ho, Chairman and CEO of the Company. “By collaborating with businesses, agencies and environmental organizations, we aim to redefine waste as a valuable resource—transforming sustainability commitments into actionable and scalable solutions.”
“This initiative reinforces TMDEL’s dual commitment to operational excellence and ecological responsibility. The Company’s established infrastructure ensures efficient collection, and we target to engage in processing and distribution of biodiesel in the near future, so as to position the Company as a key player in Southeast Asia’s green energy transition.”
“Furthermore, this milestone underscores our vision to lead the bio-green industry while upholding our commitment to exceptional service standards,” added Dato’ Sri Kam Choy Ho. “Every step forward is a step toward a future where economic growth and environmental responsibility coexist.”
About TMD Energy Limited
TMD Energy Limited and its subsidiaries (“TMDEL Group”) are principally involved in marine fuel bunkering services specializing in the supply and marketing of marine gas oil and marine fuel oil of which include high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea. TMDEL Group is also involved in the provision of ship management services for in-house and external vessels, as well as vessel chartering. As of today, TMDEL Group operates in 19 ports across Malaysia with a fleet of 15 bunkering vessels. For more information, please visit the Company’s website at: www.tmdel.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including but not limited to, the Company’s Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may”, “could”, “will”, “should”, “would”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s financial results filings with the SEC.
For investor and media inquiries, please contact: TMD ENERGY LIMITED e-Mail : corporate@tmdel.com
The Basel Committee continues to prioritise the full and consistent implementation of Basel III.
Progresses work to strengthen supervisory effectiveness based on the lessons learned from the 2023 banking turmoil.
Aims to finalise principles for the sound management of third-party risk in the banking sector by the end of 2025.
The Basel Committee on Banking Supervision met in Stockholm on 20 and 21 May 2025 to discuss a range of initiatives.
Financial stability outlook
Committee members exchanged views on recent market developments and the financial stability outlook for the global banking system. A heightened level of uncertainty and increased market volatility requires ongoing vigilance by banks and supervisors to ensure that the global banking system continues to maintain its resilience.
2023 banking turmoil
The Committee took stock of its work to develop a suite of practical tools to support supervisors in their day-to-day work as part of its efforts to strengthen supervisory effectiveness in the light of the lessons learned from the 2023 banking turmoil. The initial work covered the supervision of liquidity risk and interest rate risk in the banking book, the assessment of the sustainability of banks’ business models and the importance of effective supervisory judgment. The tools do not change or replace existing standards or guidelines and were designed to strengthen supervisory practices and effectiveness worldwide. The Committee will publish an update on the outcome of this work by the end of the year.
Following the meeting of the Group of Central Bank Governors and Heads of Supervision (GHOS) earlier this month, the Committee continues to prioritise the implementation of Basel III framework in full, consistently and as soon as possible. The Committee also discussed its analytical work to assess whether specific features of the Basel Framework performed as intended during the 2023 banking turmoil, such as liquidity risk and interest rate risk in the banking book.
Digitalisation of finance
The Committee reviewed the comments received on its consultation on supervisory principles for the sound management of third-party risk in the banking sector. It also discussed an analysis on the risks and benefits from banks’ reliance on third-party service providers.
Building on the comments received and its own analysis, the Committee will publish a final version of the principles by the end of the year.
Members also exchanged views on recent developments related to artificial intelligence and digital fraud. The Committee will continue to monitor developments in these areas.
The Committee also discussed how best to use technological innovation for its Pillar 3 disclosure framework. The disclosure framework enables market participants to access key information about a bank’s risk profile. Making these data more easily accessible by publishing them in a machine-readable format would provide an important public good. The Committee will consult on such a proposal by the end of the year.
Financial risks of extreme weather events
At the GHOS meeting earlier this month, the Committee was tasked with prioritising its work to analyse the impact of extreme weather events on financial risks. The Committee will continue to work on operationalising this work over the coming months. The GHOS also tasked the Committee with publishing a voluntary disclosure framework for climate-related financial risks for jurisdictions to consider; the framework will be published in June.
Note to editors:
The Basel Committee is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and seeks its endorsement for major decisions. The Committee has no formal supranational authority, and its decisions have no legal force. Rather, the Committee relies on its members’ commitments to achieve its mandate. The Group of Central Bank Governors and Heads of Supervision is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Erik Thedéen, Governor of Sveriges Riksbank.
More information about the Basel Committee is availablehere.
The rising tensions with North Korea, coupled with China’s increasing assertiveness, have necessitated South Korea to bolster its military capabilities and readiness. These strategic enhancements include investments in advanced weapons systems, military preparedness, and fortification of cybersecurity infrastructure. In light of these developments, the country has allocated $222 billion for the period from 2021 to 2025, according to GlobalData, a leading data and analytics company.
Akash Pratim Debbarma, Aerospace & Defense Analyst at GlobalData, comments: “Over the years, South Korea has successfully diminished its reliance on imports and enhanced the capabilities of its armed forces through the indigenous development of several advanced military systems. The country’s allocation of funds toward acquisition and research, development, testing, and evaluation (RDT&E) underscores its commitment to addressing the evolving security challenges within the region.”
The successful flight of the KF-21 prototype by Korea Aerospace Industries (KAI) in 2022 marks a significant stride toward self-reliance in combat aircraft production. While the induction of the KF-21 is slated for 2028, it is expected to considerably enhance South Korea’s aerial combat capabilities with advanced onboard avionics and near-stealth performance.
Debbarma concludes: “As North Korea continues its nuclear-capable missile tests, South Korea remains steadfast in enhancing its deterrence strategies, bolstering its air, naval, and missile defense capabilities. However, South Korea is still mainly dependent on the 28,500 US troops to maintain a credible deterrence against potential hostilities from North Korea.
“With looming uncertainties about the continuance of its reliance on US support following Trump’s return to office, South Korea will likely redirect most of its defense budgets into indigenization efforts. While supporting its armed forces, South Korea will also try to achieve economy of scale to keep the cost down for its domestic defense systems by exporting them to its allies worldwide.
The overall deal activity (comprising mergers & acquisitions (M&A), private equity, and venture financing deals) in the Asia-Pacific (APAC) region has experienced a slight contraction in early 2025. Primarily driven by a downturn in venture financing activities, the total number of deals announced in the APAC region fell by 2.6% during January-April 2025 compared to the same period in the previous year, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Deals Database revealed that the total number of venture capital (VC) deals announced in the APAC region registered a year-on-year (YoY) decline of 8.2% in the first four months of 2025.
Conversely, M&A and private equity transactions have remained stable. The number of M&A deals in the region increased by 2.4% during January-April 2025 compared to January-April 2024, whereas private equity deals volume was also up by around 2% YoY during the same period.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The APAC deal landscape is showcasing a mixed trend characterized by a blend of resilience in M&A and private equity, juxtaposed with a fall in VC funding activity. This mixed trend reflects the intricate economic dynamics at play across the region, with varying performances across key markets.”
The performance of key markets within the APAC region reveals significant disparities. China, the top APAC market in deal-making, has experienced a decline in deal volume of more than 15% during January-April 2025 compared to the first four months of 2024. In contrast, India and Japan have seen an uptick in deal activity, with a YoY growth rate of around 13% and 25%, respectively. Meanwhile, other key APAC markets, including Australia, South Korea and Singapore, also showcased signs of contraction in deal activity.
Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain
The UK’s most powerful hub for the creative industries united for two days of engaged networking, passionate debate and exceptional insights into AI, the creator economy, production craft and more – helping attendees stay ahead-of-the-curve for the year ahead.
London, United Kingdom, 21 May 2025 – After two exceptional days of conversation, collaboration and community, the biggest and buzziest MPTS yet welcomed a record 13,000 attendees from 50 countries, uniting the UK’s media and entertainment industry together in the heart of London, like never before. The exhibition is organized by Media Business Insight (MBI) Ltd, a GlobalData company.
Hosted at London’s Olympia on 14-15 May, the red-hot editorially driven program delivered 100+ free-to-attend sessions across eight theatres, showcasing the insight and passion of more than 350 expert speakers and guest keynotes. The bustling show floor was packed with more than 300 exhibitors and sponsors, showcasing imagination, determination and standout talent of the UK’s creative and technical communities – at a time of both global challenge and immense opportunity.
Setting the agenda for MPTS, a State of the Nation Production keynote outlined a media and entertainment landscape in which storytellers had to embrace screens, formats and creators of all kinds.
Kate Beal, CEO, Woodcut Media, asserted: “TV doesn’t exist anymore in the way we knew it.”
Derren Lawford, CEO, Dare Pictures, said: “We are in the middle of a decade of profound transition, and we are past the tipping point. TV is part of a wider, connected series of industries around the creation and distribution and funding of content.”
Headliners at MPTS include:
Producer and presenter Ross Kemp, who took us on an exhilarating tour of investigative documentaries on the front lines of conflict, drug cartels and organised crime gangs. “They will know in a second if you are not telling the truth,” he said. “I specialize in telling the truth, it is as simple as that.”
Georgie Holt, whose company Flight Story produces the world’s second biggest podcast ‘Diary of a CEO’, declared: “We are in the era of the Founder Creator — creators who are now in charge of media content and able to monetise spectacularly outside of traditional gatekeepers.”
NFL professional turned American Football broadcaster Jason Bell explained how sports coverage was evolving into the F1 Drive To Survive model, in which athlete personalities and back stories were the keys to growing audiences.
Blockbuster editor Eddie Hamilton gave a masterclass about the precision involved in making Top Gun: Maverick and five Mission: Impossible movies with Tom Cruise. He said: “Every nuance is refined hundreds of times. Sometimes we watch a 10-minute scene 40 times in a day, checking to see where your eye is moving in the frame.”
Diverse representation is a vital sign of the industry’s health and MPTS is proud to set the benchmark to secure equal representation and attendance from the next generation, not only across the program, but also something clearly witnessed across the show floor amongst exhibitors and attendees.
MPTS also prioritizes the crucial importance of sustainability and, in continuing association with BAFTA albert brought this conversation to the fore with experts including Peter Okell, Sky Studios Elstree; Luke Seraphin, Sky Studios and Claire O’Neill, A Greener Future speaking in the Sustainability Series.
Sam Street, Marketing Officer, BAFTA Albert commented: “MPTS is a really key moment in our calendar. It is always so great to connect with suppliers, companies, studios and creatives who share our common passion for sustainability within screen industries. It has also been really valuable to curate our sustainability series of panels across this year’s show, we’ve had some really insightful discussions and emphasised the importance of environmental focus throughout the screen industries.”
We did not need a machine to predict the high demand for news and information about AI. The brand-new ticketed AI Training program and the expanded AI Media Zone drew exceptional attendance, with exhibitors such as Dot Group, Moments Lab and Software. Conversations in these packed-out sessions revolved around the impact of AI from ideation to VFX, featuring real-world insights and discussions on bridging the gap between theory and practice from speakers including Pete Archer, BBC; Jon Roberts, ITN and Damien Viel, Banijay Entertainment.
With a record number of exhibitors already rebooking for 2026, MPTS continues to prove its value as the UK’s number one event for media and production professionals, where brands, creatives and decision-makers come together to connect, collaborate and grow.
Jane Shepard, Senior Channel Marketing Manager, Sandisk, said: “MPTS 2025 was a spectacular showcase of innovation, bringing together the brightest minds and cutting-edge technology in the industry. An unforgettable experience for all attendees.”
Tom Rundle, Application Engineer, Yamaha Music, said: “It has been very busy for us. We have seen a huge mix of customers from the broadcast sector here, but also customers from the other industries which we serve, whether that’s live or theatre who have deliberately come to the show to seek us out to speak to us. Will we be back next year? Yes, absolutely, this is the first year for us, so it was always a bit of a toe in the water, but it’s been vastly more successful than we thought it was going to be.”
Peter Alderson, Business Manager, Nikon, said: “This is our second year at MPTS, we’ve gone a little bit bigger on our stands, almost doubling it, and I think it’s definitely been worthwhile doing. We’ve partnered with RED, who we recently purchased, and MRMC so it’s making a lovely statement about where we are in the market, and I think we’re in the right place to make that statement here at MPTS.”
Jennifer Hudson, Marketing Executive, Videndum, said: “This show is really important in our calendar – we attend nearly every year and find so much value in it. We get to meet with so many different professionals within the industry, and this year has been really, really positive for us. We’ve walked away with quite a few leads and made new relationships. It’s a fantastic show, and we would thoroughly recommend anyone thinking about coming and having a stand here to definitely do it – you won’t regret it.”
Will Pitt, Head of Sales Solutions, Techex, said: “My impression of the show is that it’s been incredibly busy and very positive. Techex particularly specialise in solving some of the headaches that a lot of the broadcast industry is grappling with at the moment, namely, how they transition into an IP-led architecture from a legacy architecture and what that journey looks like. As such, our standards have been packed pretty much throughout the show to come and look at products, but also to come and talk about ideas and lean into what that journey looks like specifically for them. So not a generic journey, but specific to their drivers and their wants and needs in the short and medium term. We particularly like MPTS because it’s London based and many of the engineers that we speak to and collaborate with are based here and therefore it’s an easy journey for them to take half a day, a day out to come and investigate what we have to offer, but also to have those conversations. And so for organisations like WBD or Sky, the BBC, ITV, etc. They can come here quite easily and engage with us, spend some time talking in real life and not over teams or Zoom.”
Charlotte Wheeler, Event Director, MPTS said: “Without doubt, 2025 was the most stimulating, ahead-of-the-curve MPTS yet. At a time when we are seeing the industry under real pressure from budget cuts to talent shortages and perpetual change, the conversations and connections on the show floor were positive and demonstrated infectious community spirit. The level of attendance and the quality of attendees from across all sectors of the industry was incredible – not just stakeholders in technology but representatives from production and commissioning, the creator economy, those new to the industry and freelancers were all brought together by MPTS under one roof.
“A huge amount of work goes into making sure that there is equal representation across our extensive conference programme. I am proud that MPTS is one of – if not the – most diverse shows both in terms of attendees and panellists.
“Thank you to everyone for exhibiting, sponsoring, speaking, attending and engaging with the show to make MPTS such a thrilling success. We are already planning for 2026, which marks MPTS’ 10th edition, so look forward to a landmark celebration!”
Save the date for MPTS 2026 when we return to Olympia Grand Hall, London on 13 – 14 May 2026.
The conversation does not stop when the doors close. MPTS is more than just two days a year – it is a connected, year-round community for the broadcast and media industry. From on-demand content to exclusive events, there’s still so much to explore. Stay connected with us: https://www.mediaproductionshow.com/register-interest
The venture capital (VC) landscape in the US has demonstrated remarkable resilience and growth in funding value in early 2025, despite a slight decline in deal volume. Between January and April 2025, the US recorded a modest decrease of around 4% in VC deal volume compared to the same period in 2024. Despite the fall in volume, the total funding value of these deals more than doubled to reach $89 billion during January-April 2025, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Deals Database revealed that the total VC funding value in the US was up by a massive year-on-year (YoY) growth of 151% during January-April 2025.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Despite the dip in deal volume, the surge in deal value indicates a strong appetite for larger investments in the US market. And this trend is likely to continue as investors seek to capitalize on high-potential startups.”
The US continues to account for a significant share of global VC funding, maintaining its position as the top market in terms of both deal volume and value. However, the dominance in terms of value has now become even more pronounced with the massive surge in funding value.
The US accounted for around 30% of the total number of VC deals announced globally during January-April 2025, while its share of the corresponding value stood much higher at around 70% compared to around 45% during January-April 2024.
In contrast, other major markets such as China and the UK experienced double-digit declines in deal volume. Moreover, China saw its VC funding value also register a staggering drop of around 50% YoY during January-April 2025. This trend highlights the US’ unique position as a resilient market, attracting big investments even as some other key markets face challenges.
The US continues to attract big-ticket investments, particularly in the technology sector. Start-ups focusing on technology-driven solutions, particularly in areas such as artificial intelligence (AI), are gaining significant investor traction.
Some of the notable VC funding deals announced in the US during the first four months of 2025 include $40 billion secured by OpenAI, $3.5 billion raised by Anthropic, and $3 billion raised by Infinite Reality, among others.
Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain
The EU has announced an initial humanitarian pledge of over €2.3 billion to address global crises in 2025. Over 305 million people around the world currently require urgent humanitarian assistance. The EU is now the world’s leading humanitarian donor and a key advocate for humanitarian action.
WASHINGTON – U.S. Senator Joni Ernst (R-Iowa) joined her colleagues to introduce a bipartisan bill to improve federal coordination for essential medicine supply chains that could impact the healthcare system, helping our nation mitigate drug shortages and address future health emergencies.
“Depending on China for critical pharmaceutical ingredients poses a national security threat,” said Ernst. “Through this bipartisan effort, we can identify essential medicines to strengthen the supply chain and reduce our reliance on our adversary. By taking action now, we can protect the health of our citizens in the future.”
The Mapping America’s Pharmaceutical Supply (MAPS) Act would direct the Department of Health and Human Services to:
Map the U.S. pharmaceutical supply chain and find weaknesses,
Help create a database of essential medicines, and
Collect information about where these medicines and ingredients are made and their supply chain details, including reliance on China.
All national deposit guarantee schemes (DGS) in the European Union (EU) have reached the envisaged minimum target level.
The funds have been built up over a 10-year period through contributions from credit institutions and are directly available to reimburse depositors in the case of a bank failure.
The amount of deposits protected by the DGSs increased by 3.2% to €8.6tn from 2023 to 2024.
The European Banking Authority (EBA) today published end-2024 data related to two key concepts and indicators in the Deposit Guarantee Schemes Directive (DGSD), namely financial means available to, and covered deposits protected by, national deposit guarantee schemes. The EBA publishes this data for each Member State, and on a yearly basis to enhance the transparency and public accountability of DGSs across the EU to the benefit of depositors, markets, policymakers, DGSs and Members States. Following a 10-year build-up phase, the EU DGS funds have reached €79bn of available means in aggregate.
The DGSD ensures the adequate protection of depositors when banks fail, by guaranteeing that deposits up to a certain level will always be repaid even if the bank holding them fails. Covered deposits are guaranteed up to €100,000 or the equivalent in other currencies per depositor at each bank. The data as of 31 December 2024 shows that, compared to 2023, the amount of covered deposits across the EU further increased by 3.2% to €8.6tn, after increases of 1.7% in 2023 and 2.5% in 2022.
Furthermore, all banks in the EU have been obliged to contribute to funds held by the DGSs in their jurisdiction for the main purpose of reimbursing depositors within seven days after a bank failure. The deadline for those funds to reach the minimum required target level of usually 0.8% of covered deposits for the first time was 3 July 2024. The end-2024 data shows that all 33 EU DGSs are at or above that target level. In total, funds available to protect deposits in case of bank failures rose by 11.1% to €79bn in 2024. DGSs have in place additional arrangements, to require credit institutions to make additional contributions to the fund and/or to make additional short-term funding available should the need arise.
The public data includes data for the EU countries, Iceland, Norway and Liechtenstein, which together form the European Economic Area (EEA). The total covered deposits in the EEA amount to €8.8tn and the total available financial means in the EEA funds amount to €81bn at the end of2024.
Legal basis and background
The EBA is collecting data on deposit guarantee schemes in accordance with Article 10(10) of the DGSD. As per its Decision EBA/DC/2018/243 from 23 July 2018, the EBA makes this data publicly available on its website.
Furthermore, in support of the DGSD, the EBA published in December 2021 the Guidelines EBA/GL/2021/17 on the delineation and reporting of AFMs of the DGSs and, thus, expanded the reporting requirements from DGSs to the EBA.
Source: United Kingdom – Executive Government & Departments
News story
New Chair and members of the Joint Nature Conservation Committee appointed
Dr David Cooper named as new Chair; Professor Tom Meagher reappointed and Professor Julia Jones confirmed as new member
Dr David Cooper has been appointed as the Chair of the Joint Nature Conservation Committee (JNCC). The appointment was made in conjunction with the devolved governments and is for a three-year term from 1 June 2025 to 31 May 2028.
Professor Tom Meagher has been reappointed as an independent member of the Committee. Tom’s term will run for four years until 3 April 2029.
Furthermore, Professor Julia Jones has been appointed as an independent member of the Committee. Julia’s term will run for three years until 31 May 2028.
The new appointments have been made on merit and in accordance with the Governance Code on Public Appointments.
As the UK’s statutory advisor on nature, the JNCC provides scientific evidence and advice to the devolved governments of the UK, the UK government, and the UK’s Overseas Territories and Crown Dependencies, to help policymakers turn science into action for nature.
Biographical details
Dr David Cooper
David Cooper is Visiting Fellow at the Oxford Martin School and Honorary Researcher of the Leverhulme Centre for Nature Recovery at the University of Oxford.
David has more than 30 years’ experience in international science and policy, including at the Convention on Biological Diversity and the UN Food and Agriculture Organization. As CBD Deputy Executive Secretary and Acting Executive Secretary, he was instrumental in facilitating the development and adoption of the Kunming-Montreal Global Biodiversity Framework and related agreements.
David has contributed to the work of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services among other scientific reports and assessments.
He has chaired a number of bodies including the Collaborative Partnership on Sustainable Wildlife Management, the Biodiversity Indicators Partnership, and the Inter-agency liaison group on Invasive Alien Species.
Professor Tom Meagher
Tom Meagher has been a member of the JNCC since April 2021. He is Professor of Plant Biology at the University of St Andrews and served as Director of the St Andrews Global Challenges Forum. He was previously a member of the Defra Science Advisory Council and the Natural Environment Research Council.
Tom leads an international and interdisciplinary initiative developing novel remote sensing technology to aid the assessment and conservation of plant biodiversity. He has also worked with the British Council, the British Embassy Lima, and government agencies in Peru to promote the establishment of a national botanic garden and plant biodiversity initiative.
He has been an active contributor to the Scottish Government’s environmental and conservation science strategy, following his former role as a Trustee of the Royal Botanic Garden Edinburgh.
Julia Jones
Julia Jones is Professor in Conservation Science at Bangor University and currently holds the Prince Bernhard Chair of International Nature Conservation at Utrecht University.
She is a trustee of WWF-UK and is a member of the British Ecological Society and the Society for Conservation Biology. She serves on the advisory board of the Sounds Right initiative, a collaboration between the Museum for the United Nations and the music industry to allow nature to collect royalties from her sounds.
She has previously served as the Director of the Low Carbon Energy and Environment Research Network Wales, and on the Welsh committee of the RSPB.
Source: United Kingdom – Executive Government & Departments
Correspondence
DfE Update: 21 May 2025
Latest information and actions from the Department for Education about funding, assurance and resource management, for academies, local authorities and further education providers.
Fees for post-16 SEND travel were due to be introduced in 2020 following consultation but halted due to the outbreak of the Covid pandemic.
Fresh consultation is now being held on the introduction of a charging policy which will require a contribution towards the cost of post-16 SEND travel.
This would bring the council in line with the approach taken by neighbouring authorities.
The proposed charges would apply to students moving into post-16 SEND education from September 2025 and those already in post-16 SEND education.
Any payments would be spread over 3 terms with a reduction for low income families.
Councillor Qaiser Azeem, the City of Wolverhampton Council’s Cabinet Member for Transport, said: “We are one of the few remaining councils to offer free transport for this age group. Most authorities charge a contribution due to there being no legal requirement to provide post 16 transport.
“We remain committed to ensuring young people lead independent healthy lives, feel safe and secure and achieve their full potential.
“While in an ideal world we would not need to consider introducing charges, the proposals to introduce a contribution towards the cost of post-16 SEND travel, align with, or are less than, neighbouring authorities.
“We would of course work closely with families affected to support them should these changes be introduced.
“It is important we hear from parents, carers, students, schools and the wider community as part of this consultation, so please take this opportunity to have your say.”
In line with legislation there is no transport charge for pupils aged 5 to 16 or for adult learners aged 19 to 25.
Source: Moscow Government – Government of Moscow –
The Defense Ministry’s air defense forces destroyed another drone flying toward Moscow, Sergei Sobyanin reported on your telegram channel.
“Emergency services specialists are working at the site of the fallen debris,” the Mayor of Moscow wrote.
Source: Sergei Sobyanin’s Telegram channel @mos_sobyanin
Earlier, the Mayor of Moscow reported that the attack had been repelled three more drones.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
World Heritage site managers and archive specialists throughout South-East Asia are benefitting from a series of capstone activities under the “Safeguarding World Heritage Site Archives” JFIT project, developed in collaboration between CLT and CI sectors.
Launched in 2023, the project has contributed to conserving important archival collections related to World Heritage by applying global standards on documentary heritage, notably from the Memory of the World programme. Encompassing diverse material such as photographs, maps, restoration plans and digital media, these collections play a crucial role in understanding, protecting and monitoring World Heritage properties. Made possible through the generous support of the Government of Japan through UNESCO/Japan Funds-in-Trust, the initiative responds to urgent challenges facing archives today.
In Cambodia, the project has focused on the newest World Heritage property of Koh Ker: Archaeological Site of Ancient Lingapura or Chok Gargyar. Under the auspices of the National Authority for Preah Vihear, a Standard Operating Procedure is being finalized in order to provide customized guidance for managing the archives of the Koh Ker site.
In Indonesia, four World Heritage sites will participate in a workshop on “Developing Policies for Disaster Risk Management of Indonesian World Heritage Sites’ Archival Collections” organized collaboratively with the National Archives of the Republic of Indonesia on 3-4 June 2025. The workshop targets policy-making levels at the Ministry of Culture and the World Heritage sites of Prambanan Temple Compounds, Borobudur Temple Compounds, Ombilin Coal Mining Heritage of Sawahlunto, and Cosmological Axis of Yogyakarta.
In Thailand, UNESCO and the Thai Fine Arts Department joined hands to organize a practical training workshop on “Archives and Record Management for World Heritage Sites” on 22-23 May 2025 at the Historic City of Ayutthaya in Thailand. Led by experts from the National Archives of Thailand, this training is designed to equip cultural World Heritage site managers from Thailand and Lao PDR with knowledge and skills in managing their historic documents. The workshop is planned to showcase archives activities undertaken at Ayutthaya throughout the project, including an upgraded records management facility holding both paper-based and digital records.
Finally, the project will also see the upcoming launch of UNESCO’s new manual on World Heritage conservation archives management, which will be available in English along with Baha Indonesia, Chinese, Khmer, Russian and Thai through the coordination of UNESCO Jakarta, UNESCO Beijing, UNESCO Phnom Penh, UNESCO Almaty and UNESCO Bangkok, respectively.
Source: People’s Republic of China – State Council News
MACAO, May 21 — China’s Macao Special Administrative Region (SAR) welcomed over 3.09 million visitors in April 2025, marking an 18.9 percent year-on-year increase, the SAR’s Statistics and Census Service (DSEC) said on Wednesday.
Same-day visitors jumped by 30.1 percent to over 1.75 million, while overnight visitors rose 6.9 percent to nearly 1.34 million. However, the average length of stay slightly dropped to 1.1 days due to the higher share of same-day travelers.
As regards the source of visitors, the Chinese mainland remained the largest source of visitors, contributing over 2.12 million arrivals, up 22.4 percent. Arrivals from China’s Hong Kong and China’s Taiwan also grew, up 13.4 percent and 4.4 percent respectively.
International visitor numbers increased by 10.4 percent to 230,014, with strong gains from India (up 50 percent) and Southeast Asian markets like Thailand and the Philippines, while some declines were recorded from Singapore and Malaysia.
The DSEC also noted that from January to April, total arrivals in the Macao SAR reached 12,955,456, up 12.9 percent year-on-year.
Source: People’s Republic of China – State Council News
BEIJING, May 21 — China has unveiled an action plan to protect and create beautiful rivers and lakes from 2025 to 2027, with a focus on improving the quality of aquatic ecosystems.
The plan, jointly released by the Ministry of Ecology and Environment and other government organs on Wednesday, set the goals of achieving notable progress in creating beautiful rivers and lakes by 2030 and completing the initiative by 2035.
The plan aims to promote targeted, science-based, and lawful pollution control, coordinate the management of water resources, aquatic environments, and water ecologies, and build an integrated ecological governance system across upstream and downstream areas in key river basins to improve the health of aquatic ecosystems.
A total of 2,573 water bodies have been included in the national list for protecting and creating beautiful rivers and lakes, covering major river trunks, key tributaries, and important lakes and reservoirs with critical ecological functions, fragile environments, or significant public interest.
The plan outlines 19 specific measures, focusing on consolidating and deepening water environment management, guaranteeing basic ecological water use, and comprehensively advancing protection and construction efforts.
Source: People’s Republic of China – State Council News
BEIJING, May 21 — China will further step up financing support for small and micro enterprises by increasing financing supply, lowering financing costs, and enhancing the precision of supportive measures, according to a guideline issued Wednesday by eight departments.
The document — jointly issued by the National Financial Regulatory Administration, the People’s Bank of China, the National Development and Reform Commission and other authorities, proposes 23 concrete measures to boost financing for small and micro firms.
To increase financing supply for these companies, the country will strengthen the issuance of first-time loans, credit loans, medium- to long-term loans, corporate loans and loans to private enterprises, the guideline revealed.
Financing support for small and micro firms in the agricultural sector will be strengthened by leveraging structural monetary tools including re-lending, the document said.
China will also support small and micro enterprises in pursuing equity financing, the guideline stated.
To reduce the financing costs of small and micro companies, the country will guide banks to determine their lending rates for such enterprises reasonably while lowering additional loan-related fees.
China will also guide banks to improve their financing efficiency, streamline application materials and optimize approval procedures, said the document, while adding that more support will be channeled to science and technology-oriented, innovation-driven small and micro firms as well as those engaged in new business models regarding foreign trade.
Source: People’s Republic of China – State Council News
Deutsche Grammophon (DG) and Blue Note Records, two of the world’s most iconic classical and jazz labels, launched Chinese branches on May 15 as the country’s audience for these genres continues to expand.
The labels will operate dedicated China imprints in collaboration with Universal Music Greater China, the companies said.
Executives launch Deutsche Grammophon China in Shanghai, May 15, 2025. [Photo courtesy of Universal Music Group]
“For decades, Deutsche Grammophon and Blue Note have held a special place in the hearts of Chinese classical and jazz musicians,” said Timothy Xu, chairman and CEO of Universal Music Greater China.
“These labels have deeply influenced how local artists understand, study and create within these genres. Today marks a new beginning. For the first time, these two iconic brands are establishing dedicated labels in China to engage directly with local artists and communities.”
The new labels will focus on discovering Chinese talent, developing original creative work and connecting local musicians with international audiences, according to company executives.
Xu said DG China and Blue Note Records China “will be fully committed to discovering and supporting the next generation of talent emerging from China.”
“Through these efforts, we hope to contribute to the growth and appreciation of classical and jazz music in China and to help bring the richness of Chinese musical expression into deeper dialogue with the world,” he said.
“By combining the global heritage and artistic leadership of these two iconic labels with the market knowledge and cultural insight of our local team, we are creating a stronger platform to connect Chinese talent with global opportunities,” said Adam Granite, executive vice president for market development at Universal Music Group.
Pianists Lang Lang and Yuja Wang, along with Shanghai Symphony Orchestra Music Director Yu Long, all longtime DG artists, will serve as artistic advisors to DG China, executives announced at the launch event.
Lang Lang said in a video message that “Deutsche Grammophon has been my musical home for many years, and I’m thrilled to see the launch of DG China.”
“I believe DG China will be a key platform for emerging Chinese musicians and help connect classical music with broader audiences,” he said. “I also hope it will bring more Chinese voices to the global stage, a mission I deeply believe in and am proud to support.”
DG China will release its first album, “Bach: The Cello Suites,” performed by cellist Wang Jian on May 23, with plans to record all of Dmitri Shostakovich’s symphonies with the Shanghai Symphony Orchestra by 2029 to mark the orchestra’s 150th anniversary. Yu Long called it “also a powerful expression of the artistry and interpretive depth of Chinese musicians today.”
Executives launch Blue Note Records China in Shanghai, May 15, 2025. [Photo courtesy of Universal Music Group]
Blue Note Records China, a new division of the iconic jazz label known for artists like Miles Davis and Herbie Hancock, will focus on developing local talent while bringing Chinese jazz to international audiences, executives said.
The label’s first signing is INNOUT, an avant-garde jazz duo composed of guitarist Xiao Jun and drummer An Yu. The duo combines jazz with electronic elements and experimental composition in a style that has gained recognition in China’s contemporary jazz scene.
Don Was, president of Blue Note Records, said: “Xiao Jun and An Yu are two of the most talented and visionary musicians I’ve ever met. Their music is going to blow people’s minds all over the world. It’s a thrill and an honor to be able to launch Blue Note Records China with their music.”
Blue Note Records China will also partner with JZ Music, a major player in China’s jazz scene, to develop live performance opportunities, including tours, festivals and venue events. The partnership aims to increase Chinese jazz visibility both locally and internationally.
As wildfires continue to burn across the state, Governor Tim Walz today declared a peacetime emergency and directed state agencies to provide the assistance necessary to help respond to and recover from the wildfires that have caused significant destruction to property and critical infrastructure. Yesterday, St. Louis County officials declared a state of local emergency, requesting public disaster assistance.
Governor Tim Walz today signed the first Tribal-state compact authorized under Minnesota’s 2023 cannabis law. The agreement outlines how the State of Minnesota and White Earth Nation will promote a cooperative and mutually beneficial relationship to regulate cannabis and promote public health and safety.