NewzIntel.com

Category: Economy

  • MIL-OSI Asia-Pac: Speech by FS at Korea-Hong Kong Business Luncheon (English only) (with photos)

    Source: Hong Kong Government special administrative region – 4

         Following is the speech by the Financial Secretary, Mr Paul Chan, at the Korea–Hong Kong Business Luncheon held in Seoul, Korea, today (July 9): 
     
    Mr Joo Yong-tae (Deputy Mayor for Economy, Seoul), Mr Kevin Lee (Director of the International Trade Division of the Korea Chamber of Commerce and Industry), distinguished guests, ladies and gentlemen,

         Annyeonghaseyo. Good afternoon. It is both a pleasure and honour to be here with you today in Seoul.
     
         Let me begin by extending my warmest greetings and heartfelt appreciation to the Korea Chamber of Commerce and Industry and our ETO (Economic and Trade Office) colleagues for organising this luncheon.
     
    Hong Kong: good for business
     
         Allow me to start by offering a brief snapshot of where Hong Kong stands today.
     
         Hong Kong has been back on a path of growth following the global challenges of the pandemic.  In 2024, we recorded a GDP growth of 2.5 per cent. This year, despite continued global uncertainties from tariff war to geopolitical tensions, our economy recorded a 3.1 per cent growth in the first quarter. Our merchandise exports continued to register strong double-digit growth.
     
         Foreign businesses continue to cast a vote of confidence in our city. In 2024, the number of overseas and Mainland companies operating in Hong Kong reached an all-time high at nearly 10 000.  American and European companies rose by around 10 per cent, while Korean companies rose by 9 per cent year on year.  
     
         Hong Kong continues to shine in international rankings. We are among the world’s top three global financial centres. The latest IMD (International Institute for Management Development) World Competitiveness Ranking places us as the third most competitive economy worldwide. Last October, the Fraser Institute reaffirmed our position as the world’s freest economy. These accolades are no coincidence. They are the result of persistent hard work to drive our competitiveness forward, backed by transparent, consistent and predictable policies, market openness and global connectivity.
     
         A critical foundation of our success is a stable and secure environment. This year marks the fifth anniversary of the implementation of the Hong Kong National Security Law. It restores law and order in Hong Kong and provides confidence to the international business community. Indeed, a survey by the American Chamber of Commerce (in Hong Kong) in January this year showed that (more than) 80 per cent of its members expressed confidence in Hong Kong’s rule of law.  And 70 per cent reported that the National Security Law had no impact on their business operations.
     
         Under the “one country, two systems” framework, Hong Kong continues to be an open, diverse and international city. We are a free port, uphold a freely convertible currency pegged to the US dollar, ensure the free flow of capital, goods, information and talent, and practise the common law system.
     
         President Xi Jinping and the Central Government of China have made clear that the “one country, two systems” framework is here to stay for the long term. 
     
         Investor confidence is reflected in hard data. Our stock market, for example, rose by 18 per cent last year, and has gained another 20 per cent this year. Initial public offerings (IPOs) on the Hong Kong Stock Exchange have raised about US$16 billion so far this year, making Hong Kong the top IPO venue globally to date. The total bank deposits grew by 7 per cent last year and another 7 per cent this year, now exceeding US$2.3 trillion, six times our GDP.
     
    The Greater Bay Area
     
         Meanwhile, Hong Kong is the international gateway to the Guangdong-Hong Kong-Macao Greater Bay Area, or GBA, which is an economic powerhouse with 87 million people and a combined GDP of US$2 trillion. With a per capita GDP of US$23,000, or US$40,000 on a purchasing power parity basis, the GBA is not just a manufacturing base, but also a sophisticated, high-growth consumer market.
     
         The region is deeply interconnected. High-speed rail puts us just 15 minutes from Shenzhen and 45 minutes from Guangzhou. With seven international airports and a combined annual passenger throughput of over 200 million, the GBA sits within a five-hour flight radius of half the world’s population. Hong Kong International Airport, the world’s busiest cargo airport, now operates with a third runway and is gearing up to handle 120 million passengers and 10 million tonnes of cargo annually by 2035.
     
         The GBA is also a cradle of innovation. According to the World Intellectual Property Organization, the Shenzhen-Hong Kong-Guangzhou science and technology cluster ranks second globally in innovation, and has done so for five consecutive years. Hong Kong excels in basic research, anchored by five universities ranked among the world’s top 100. Three of them are in the global top 20 for data science and AI; our two medical schools are ranked among the top 40. Meanwhile, Shenzhen and Guangzhou lead in commercialisation and advanced manufacturing. Together, the GBA is like fusing the financial power of New York with the innovation energy of Silicon Valley.
     
    Opportunities for Korean businesses
     
         So, what does this mean for Korean businesses?
     
         First, Hong Kong’s financial markets offer unparalleled connectivity and liquidity. We serve as a two-way platform, connecting international capital with Mainland markets and vice versa. Through our Connect Schemes, including Stock Connect, Bond Connect, and ETF (Exchange-traded Fund) Connect, and more, Mainland investors can access Hong Kong’s markets, while global investors can access the Mainland through Hong Kong.
     
         The recent surge in our stock market reflects two important trends. First, the rebalancing act of international investors to diversify risks out of global economic uncertainty, particularly in the US; and second, optimism about China’s technology prowess demonstrated by DeepSeek and others. Korean investors have already taken note. And they are apt in taking actions. In February this year, we saw the highest level of Korean investment into our stock market in over three years.
     
         Beyond the stock market, asset and wealth management is another area where we are seeing rapid growth. Hong Kong now manages over US$4 trillion in assets. With a growing ecosystem of related financial services, we are on track to become the world’s largest cross-border wealth management hub by 2028. For Korean firms in private banking and asset management, the opportunities are significant. Indeed, many American and European asset and wealth managers have been expanding their hiring and office accommodation in the city.
     
         Hong Kong also serves as a powerful springboard for Korean goods, not just into the GBA or the Chinese Mainland, but across the entire ASEAN (Association of Southeast Asian Nations) region. As a duty-free port with seamless customs clearance and unmatched connectivity, Hong Kong offers Korean exporters a fast, cost-effective and reliable route to high-growth markets. From electronics and cosmetics to food products and fashion, Hong Kong is your launchpad.
     
         In innovation and technology, Hong Kong is making strategic and forward-looking moves. We are placing particular emphasis on the development of key sectors such as artificial intelligence and biotech. In addition to our world-class research capabilities, Hong Kong is where Mainland and international data converge. This is a distinct competitive advantage for data-intensive industries.  
     
         Our close collaboration with other cities in the GBA is further accelerating this momentum.  Along our boundary with neighbouring Shenzhen, we are developing a joint innovation and technology park, where we are piloting innovative policies to facilitate the seamless flow of data, talent, capital and even biosamples. We have also established joint clinical trial centres to expedite drug development and streamline cross-boundary regulatory approvals. For Korean tech and pharmaceutical firms seeking expansion and collaboration opportunities, Hong Kong is your ideal location. 
     
    The pleasures of life
     
         Beyond business, Hong Kong is a city alive with culture, diversity, and global connectivity. We are a true melting pot of East and West.  Korean culture, from K-pop to kimchi, has found a warm and enthusiastic following in Hong Kong.  And we are glad that more and more Korean visitors are coming to our city to see for themselves our vibrancy. In the first half of this year, Hong Kong welcomes more than half a million of Korean visitors, a 25 per cent increase year on year.
     
         The pleasures of life are part of our fabric. With more than 200 Michelin-recognised restaurants, hiking trails minutes from the city, and a coastline that rivals the best in the region, Hong Kong offers not only opportunity, but quality of life. Above all, Hong Kong remains one of the safest cities in the world, a place you can walk freely, day or night.
     
         And we are just getting started. The newly opened Kai Tak Sports Park offers a world-class, multipurpose venue for sport and entertainment events. In January next year, we’re excited to welcome BLACKPINK to our stage. And who knows, NewJeans and aespa may not be far behind!
     
         Ladies and gentlemen, I hope I’ve been able to offer you a fresh perspective on Hong Kong, not just as a financial centre or trade hub, but as a dynamic, welcoming city filled with opportunity, energy and creativity. A city where Korean businesses, investors and talents can thrive.
     
         If I may, let me now share a short video that captures the vibrancy, openness and possibilities of Hong Kong today.
     
         That is Hong Kong – dynamic and welcoming. A city that means business, and a city that celebrates life. We look forward to welcoming you soon, to Hong Kong.
     
         Kamsahamnida. Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Accountants play a critical role in building trust in AI

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 09, 2025 (GLOBE NEWSWIRE) — As artificial intelligence (AI) becomes more embedded in everyday life, concerns around privacy, bias and misuse are mounting—and Chartered Professional Accountants (CPAs) are uniquely positioned to help bridge the trust gap.

    A new joint publication from CPA Canada and the American Institute of CPAs (AICPA) explores the pressing need for trusted oversight of AI and highlights how CPA-led assurance services can address key risks—an approach already being embraced by firms like PwC.

    “Confidence in AI isn’t just about easing public concern, it’s essential to reducing the risk of financial loss, regulatory penalties and reputational damage,” says Melissa Robertson, CPA Canada’s AI expert and co-author of the paper. “These risks are especially high in Canada, where AI literacy ranks among the lowest in the world.”

    One of the most effective ways to build trust is through independent assurance: a service that CPAs have long provided in other high-risk areas. Assurance can offer third-party validation that complex systems are designed and operating as intended. Now, this expertise is being extended to AI.

    “We have well-established processes, professional standards and tools to ensure quality,” Robertson adds. “As a regulated profession grounded in trust, CPAs bring the skills, oversight and objectivity that AI systems demand.”

    CPAs already apply assurance and compliance frameworks to help organizations assess essential technologies, including HR platforms, financial systems and cloud-based storage services. These evaluations draw on proven CPA auditing practices and trusted tools like the System and Organization Controls (SOC) suite of services, which address critical areas such as security, privacy and reliability, offering peace of mind to clients and regulators alike.

    “Most organizations already rely on SOC reports to validate their systems,” says Robertson. “Now we’re seeing growing demand from major players for the same level of assurance around AI. Today, many CPA firms are still exploring AI assurance as a service—tomorrow, they’ll be delivering it.”

    To request a copy of the research paper or arrange an interview with Melissa Robertson, principal of research and thought leadership at CPA Canada, please contact media@cpacanada.ca.

    About the paper

    Closing the AI trust gap: The role of the CPA in AI assurance is the third and final paper in CPA Canada and the AICPA’s artificial intelligence series. It outlines how CPAs can apply their assurance expertise—including established standards, oversight models and professional judgment—to help organizations build trust in AI systems. The paper is intended for business leaders, regulators and technology stakeholders seeking practical, independent approaches to AI oversight.

    The MIL Network –

  • MIL-OSI United Kingdom: Financial health notice to improve: South Devon College

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    Financial health notice to improve: South Devon College

    A financial health notice to improve issued to South Devon College.

    Applies to England

    Documents

    Notice to improve: South Devon College

    PDF, 273 KB, 5 pages

    Details

    This letter and its annex serve as a notice to improve financial health at South Devon College.

    Updates to this page

    Published 18 June 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Financial health notice to improve: Newbury College

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    Financial health notice to improve: Newbury College

    A financial health notice to improve issued to Newbury College.

    Applies to England

    Documents

    Notice to improve: Newbury College

    PDF, 136 KB, 6 pages

    Details

    This letter and its annex serve as a notice to improve financial health at Newbury College.

    Updates to this page

    Published 25 June 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Double success: the first graduates of SPbPU and Lanzhou University of Economics and Finance received diplomas

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    The Institute of Industrial Management, Economics and Trade of SPbPU hosted the first graduation of bachelors of the international educational double degree program with Lanzhou University of Economics and Finance (China).

    The defense of final qualification works in the direction of “Economics” (profile “Finance”) was held in English on the campus of Lanzhou University of Economics and Finance in Gansu Province. Students presented the results of their research on current issues of finance, economic analysis and investment management. The examination committee from SPbPU included the director of the Higher School of Engineering and Economics of IPMEiT Dmitry Rodionov, associate professor of VIES and program director Daria Krasnova, associate professors of VIES Ekaterina Burova and Evgeny Konnikov. The members of the committee highly appreciated the level of preparation of the graduates.

    Joint final assessment is a vivid example of successful academic cooperation. Each defense becomes not just an exam for students, but an important step in strengthening scientific and cultural ties between our countries. We highly value the partnership with our Chinese colleagues and are confident that it will develop, opening up new opportunities for students and teachers, – commented Dmitry Rodionov.

    During the award ceremony for the best graduates, student Zhang Liwen was awarded the badge of excellent student of the 3rd degree. Student Zhang Xinran received gratitude for the responsible performance of the duties of a class monitor during two years of study in St. Petersburg.

    This project confirms that international partnership in education opens up new opportunities for students and teachers. It was very nice to see the guys and take part in the defense of their research achievements. Joint defenses not only strengthen academic ties, but also allow for the exchange of best practices in training future financiers, says Daria Krasnova, head of the international educational program.

    “It is a great honor for me to participate in the joint defense of theses between our universities,” shared student Shan Yuhong. “It was an invaluable experience that allowed me not only to present the results of my research to an international commission, but also to get acquainted with Russian approaches to economics and finance. I would especially like to thank the teachers for their qualified comments and recommendations, which will help me in my future academic and professional activities.”

    A joint educational program with a Chinese university is not only an academic exchange, but also a bridge between cultures. Today’s defenses have shown how effective such a partnership is: students demonstrate unique competencies, and their research opens up new prospects for scientific cooperation. I thank all participants of this project for their contribution to strengthening international ties! – concluded the Director of IPMEiT Vladimir Shchepinin.

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

    .

    MIL OSI Russia News –

  • MIL-OSI Africa: Home Affairs to submit ‘Digital ID’ policy to Cabinet for approval

    Source: Government of South Africa

    Home Affairs to submit ‘Digital ID’ policy to Cabinet for approval

    Minister of Home Affairs Leon Schreiber says government is laying the foundation for an ambitious plan to create South Africa’s first ever Digital ID system.

    “Home Affairs will shortly submit a Digital ID policy to Cabinet for approval to conduct public hearings. Beyond the material benefits, such as clamping down on fraud and enhancing inclusion, the Digital ID system will also restore the integrity and pride of our cherished South African identity,” said the Minister.

    He was delivering the department’s Budget Vote in Parliament on Tuesday.

    Schreiber said the department plans to deliver digital versions of enabling documents that can be accessed online and on smart devices.

    “[The] Digital ID will also enable users to remotely authenticate themselves, laying the foundation for a digital revolution not only for government services, but also for critical private sector services like banking, finance and insurance.”

    The Minister said government was committed to the digital transformation of the department – called Home Affairs @ home.

    “We call this vision Home Affairs @ home… Our goal is nothing less than revolutionising the way citizens interact with their government by moving from manual to digital,” said the Minister.

    He said building a new reform model – based on decentralisation, modernisation, digital transformation and remote access – will “restore the hope that South Africa as a whole can work”.

    The constant investments being made in the reform of Home Affairs, the Border Management Authority and Government Printing Works, is starting to compound and grow.

    “During the past year, we have delivered nearly 3.6 million Smart IDs – almost half a million more than the previous annual record. We cleared a visa backlog of over 306 000 applications dating back over a decade.

    “We deported over 46 000 illegal immigrants, the highest number in five years and more than countries like France and Germany combined. We used drones and body cameras to increase the number of attempted illegal crossings that were detected and prevented by up to 215%.

    “We empowered naturalised citizens and permanent residents to obtain Smart IDs for the first time, expanding inclusion and making our country less reliant on the green ID book that is 500% more vulnerable to fraud than the Smart ID.

    “If this is just some of what Home Affairs could do in one year. Just imagine what we can do in five,” said Schreiber.

    Now that the department is enabling all qualifying categories of persons to obtain Smart IDs, “the next step will be to dramatically scale up access to this critical and more-secure enabling document”.

    In line with the Medium-Term Development Plan adopted by Cabinet, the department will do so by expanding the successful pilot project that currently delivers Smart ID and passport services in about 30 bank branches across the country.

    “We will use digital transformation to integrate the Home Affairs IT platform onto banks’ networks, thereby enabling many more bank branches to deliver this service around the country.

    “Our target for this financial year is to expand this service to at least 100 more branches.”

    This same technology reform will enable South Africans to order Smart IDs and passports through their banking app, just like they already when buying electricity or data.

    The department will further introduce the option of home delivery for Smart IDs and passports, using advanced facial recognition technology to secure the process.

    “Through scaling up the existing collaboration with banks, we will rapidly accelerate access to Smart IDs with the goal of ending the production of new Green ID books by the end of this year.

    “This will be a momentous step towards delivering dignity for all, while simultaneously clamping down on fraud,” said the Minister.

    He announced that, by the end of this month, Home Affairs will launch new facilities abroad to assist South Africans living and working overseas. These new facilities will ensure a five-week turnaround time for IDs and passports.

    “We are starting in Australia, New Zealand and the United Arab Emirates, followed by France, Germany and The Netherlands later this year, and North America in the new year.”

    He said the ultimate aim is to deliver “Home Affairs @ home”, which will enable every South African, no matter where they are in the world, to obtain services from their government online. – SAnews.gov.za

    Janine

    MIL OSI Africa –

  • MIL-OSI Banking: “We want to enable digital progress”

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    In his speech in Berlin, Branson emphasised that technologies with huge disruptive potential such as distributed ledger technology, artificial intelligence and quantum computing are developing at a rapid pace. This presents great opportunities for companies in the financial sector, he noted. Quantum computers, for example, could massively boost the efficiency of artificial intelligence systems. “A really fascinating combination,” he said.

    At the same time, Branson cautioned, new technologies harbour considerable risks. Quantum computers could undermine established encryption technologies, and AI could exacerbate unfair discrimination, for example. The spread of cryptoassets could create dangerous feedback loops affecting the traditional financial system. “We cannot ignore these risks. In the worst-case scenario, they could impact the entire financial system,” he warned.

    In light of this, BaFin strives to maintain the right balance between innovation and stability. Branson explained: “We want digital innovation. Today it´s the foundation of a strong, competitive financial sector – and only a strong, competitive financial sector can remain robust.” Innovation is therefore firmly anchored in BaFin’s strategic objectives for the years 2026 to 2029. At the same time, Branson added, BaFin is mandated to pursue the goal of ensuring the proper functioning, stability and integrity of the financial system. This is also reflected in BaFin’s strategic objectives.

    BaFin therefore scrutinises digital technologies and new business models carefully, Branson said. “We want to enable digital progress while ensuring the proper functioning, stability and integrity of the financial system. That is our guiding principle.” Branson emphasised that cooperation is needed in order to seize the opportunities of digital change in a responsible manner. “This is our shared responsibility.”

    MIL OSI Global Banks –

  • MIL-OSI Banking: BaFin warns consumers about the website mega-platz.pro

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the company MegaPlatz and the services it is offering. BaFin suspects the unknown operators of the website mega-platz.pro of offering consumers financial, investment and cryptoasset services without the required authorisation.

    The content of the website is identical to other platforms that BaFin has previously warned consumers about and that display the same opening sentence: “Upgrade Your Trading With…”.

    BaFin is issuing this information on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG) and section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomärkteaufsichtsgesetz).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Global Banks –

  • MIL-OSI Europe: Answer to a written question – Commission control of Recovery and Resilience Facility funds – E-000746/2025(ASW)

    Source: European Parliament

    On 1 January 2021, the European Anti-Fraud Office (OLAF) had 343 statutory posts, while on 1 January 2024, it had 313 statutory posts. For 2021, the authorised staff level for the European Public Prosecutor’s Office (EPPO) amounted to 130 (95 statutory posts and 35 contract agents), while for 2024 it was 289 (232 statutory posts, 28 contract agents and 29 seconded national experts).

    OLAF’s investigative team on the expenditure side remain organised by geographical area and by management mode. OLAF does not have any employees allocated on a full-time basis to monitor Recovery and Resilience Facility (RRF) expenditure only. The Commission does not have information on the internal organisation of resources in EPPO.

    The RRF control framework includes strict mechanisms to protect the EU’s financial interests, including preventing, detecting and correcting fraud, corruption, and conflict of interest. Member States are primarily responsible for protecting these interests and ensuring compliance with EU and national law. In cases of serious irregularities affecting EU’s financial interests that have not been adequately corrected by the Member State, the Commission can reduce proportionately the support under the RRF and recover any amount due to the EU budget.

    Close cooperation with OLAF and EPPO strengthens further the EU capacity to effectively control RRF expenditure.

    Last updated: 9 July 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – EU regulatory environment, artificial intelligence and competitiveness – E-001181/2025(ASW)

    Source: European Parliament

    The 2025 Annual Single Market and Competitiveness Report[1] warns that Europe risks falling behind in the area of innovation. In response, the Commission’s Competitiveness Compass[2] includes targeted actions, such as a new EU Start-up and Scale-up Strategy and a 28th regime to address the obstacles preventing new companies from emerging and scaling up .

    The Single Market Strategy[3] presents an action plan to improve the functioning of the Single Market and promote cross-border provision of services and cross-border movement of goods and to support competitiveness and innovation more broadly.

    The Commission is simplifying EU rules and their implementation to reduce complexity and compliance costs for businesses, including sustainability reporting[4].

    Further measures are planned in the Commission’s 2025 work programme[5]. In addition, the Commission’s goal is to make Europe the ‘Artificial Intelligence (AI) Continent’.

    The AI Act[6] ensures market access, legal clarity and stronger consumer trust, while safeguarding EU citizens’ safety and fundamental rights. The AI Continent Action Plan[7], launched on 9 April 2025, will boost the EU’s AI innovation capabilities.

    Evaluations and fitness checks will allow evaluating the potential to simplify, consolidate and codify the EU acquis and find opportunities to cut costs.

    As part of its simplification agenda, the Commission will conduct an ambitious and comprehensive screening of existing EU legislation to stress-test the EU acquis and identify overlaps, contradictions, and obsolete provisions.

    The Commission will also apply the new small and medium-sized enterprises (SMEs) and competitiveness checks with a strong sector focus, and analysis on SMEs impacts.

    • [1] The 2025 Annual Single Market and Competitiveness Report, COM(2025) 26 final.
    • [2] A Competitiveness Compass for the EU, COM(2025) 30 final.
    • [3] The Single Market: our European home market in an uncertain world. A Strategy for making the Single Market simple, seamless and strong, COM(2025) 500 final.
    • [4] Sustainability Omnibus: https://finance.ec.europa.eu/publications/commission-simplifies-rules-sustainability-and-eu-investments-delivering-over-eu6-billion_en.
    • [5] 2025 Commission work programme: https://commission.europa.eu/strategy-and-policy/strategy-documents/commission-work-programme_en.
    • [6] Artificial Intelligence Act, Regulation (EU) 2024/1689.
    • [7] AI Continent Action Plan, COM(2025) 165 final.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Commission contradictions over the regulation of corporate sustainability – E-000957/2025(ASW)

    Source: European Parliament

    The Commission agrees on the importance of a thorough assessment of competitiveness in impact assessments. This is why a compulsory competitiveness check is implemented with a stronger focus on sectorial impacts, to better reflect the impacts on sectors, particularly those exposed to international competition.

    New consultation approaches, such as implementation dialogues and reality checks with stakeholders that are impacted by regulatory initiatives are also being implemented to seek their views, including on the best possible ways to shape these initiatives to secure the competitiveness of Europe’s economy.

    They come on top of the Commission’s existing consultation tools, ranked first by the Organisation for Economic Cooperation and Development (OECD)[1].

    The original legislative measures that the Omnibus package adopted on 26 February 2025[2] aims to simplify were subject to comprehensive impact assessments[3] and preceded by extensive stakeholder consultation.

    However, the multiple and complex crises and events happening in the meanwhile have strong impact on the competitiveness of Europe’s economy. A recalibration is now needed to address areas where EU companies may be at a competitive disadvantage.

    This approach clearly signals that the Commission intends to stay the course on building a greener and fairer society and economy, but to do so in the simplest manner possible and by boosting the competitiveness of our economy at the same time.

    If these first Omnibus proposals are adopted and implemented, conservatively estimated total savings in annual administrative costs of around EUR 6.3 billion can already be achieved[4].

    • [1] See the OECD Regulatory Policy Outlook 2025, https://www.oecd.org/en/publications/oecd-regulatory-policy-outlook-2025_56b60e39-en.html.
    • [2] See https://commission.europa.eu/publications/omnibus-i_en.
    • [3] See https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52018SC0264, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52021SC0150 and https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:52021SC0643.
    • [4] See Staff Working Document Accompanying the documents COM(2025) 80 — COM(2025) 81, https://commission.europa.eu/document/download/1da93ca2-7911-4e1f-9ce6-cecd09a85250_en?filename=SWD-Omnibus-80-81_En.pdf.
    Last updated: 9 July 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Support measures for the European fertiliser industry – E-001698/2025(ASW)

    Source: European Parliament

    Fertilisers are highly tradeable internationally and the EU is dependent on imports for most of the inputs they require. Exogeneous developments, such as spikes of natural gas prices or tightening of global supply for phosphatic fertilisers, have a strong impact on production costs.

    The Commission is currently undertaking several initiatives to support the European industry, among which the action plan for Affordable Energy[1] that will benefit energy-intensive industries. In addition, the President of the Commission announced a dedicated action plan for the EU chemical industry[2].

    The Common Agricultural Policy[3] supports the improvement of nutrient management, that includes the substitution of mineral with bio-based fertilisers, closing nutrient loops and therefore reducing dependencies. Such actions are planned for 15.5% of EU farming area by 2027[4].

    A Fertiliser Market Observatory[5] was also established to improve market transparency and monitoring. Fertilisers availability and affordability in the EU improved in 2024, driven by increased nitrogen fertilisers production and lower prices.

    The Commission is currently exploring the simplification potential for rules on EU fertilising products[6], including possible disproportionate burden on small and medium-sized enterprises (SMEs).

    Furthermore, SMEs can seek financial support from different EU programmes, like the EU Innovation Fund[7] and the European Hydrogen Bank[8].

    • [1] eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52025DC0079.
    • [2] https://ec.europa.eu/commission/presscorner/detail/el/read_25_1198.
    • [3] Regulation (EU) 2021/2115 of the European Parliament and of the Council of 2 December 2021 establishing rules on support for strategic plans to be drawn up by Member States under the common agricultural policy (CAP Strategic Plans) and financed by the European Agricultural Guarantee Fund (EAGF) and by the European Agricultural Fund for Rural Development (EAFRD) and repealing Regulations (EU) No 1305/2013 and (EU) No 1307/2013, OJ L435, 6.12.2021.
    • [4] https://agridata.ec.europa.eu/extensions/DashboardCapPlan/result_indicators.html#.
    • [5] https://agriculture.ec.europa.eu/data-and-analysis/markets/overviews/market-observatories/fertilisers_en.
    • [6] Regulation (EU) 2019/ of the European Parliament and of the Council of 5 June 2019 laying down rules on the making available on the market of EU fertilising products and amending Regulations (EC) No 1069/2009 and (EC) No 1107/2009 and repealing Regulation (EC) No 2003/2003, https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32019R1009.
    • [7] https://climate.ec.europa.eu/eu-action/eu-funding-climate-action/innovation-fund/what-innovation-fund_en.
    • [8] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52023DC0156.
    Last updated: 9 July 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Removing obstacles faced by small and medium-sized enterprises – E-001400/2025(ASW)

    Source: European Parliament

    As acknowledged by the Honourable Member, small and medium-sized enterprises (SMEs) are the backbone of the EU economy. There are 26.1 million SMEs in the EU, providing jobs to more than 89.8 million citizens.

    The Commission is paying particular attention to SMEs’ access to EU funding. The scale of SMEs’ involvement can be illustrated by their participation in EU programmes.

    Between 2021 and 2024, Horizon Europe[1] funded around 10 077 SMEs, of which approximately 1 450 (14%) funded under the European Innovation Council[2], with a total of EUR 7.4 billion in grants (of which EUR 3.9 billion for SMEs only).

    InvestEU[3] has supported over 55 000 SMEs in its first two years. The SME Pillar of the Single Market Programme[4] has provided assistance to 292 000 SMEs through the European Enterprise Network[5] alone.

    In the 2023 calls under the European Defence Fund[6] (EDF), SMEs represented around 50% of the total number of entities, requesting approximately 30% of the total grant amount. For the period 2023-2027, the EDF is expected to fund SMEs with up to EUR 840 million.

    The Commission sees SMEs as a priority target of its policies. The recently published Single Market Strategy[7] sets out a number of actions, including to address SMEs’ difficulties in accessing sustainable finance.

    Finally, the recently published EU Startup and Scaleup Strategy[8] contains a comprehensive set of measures to improve framework conditions, including access to finance for startups and scaleups, many of whom are the most promising SMEs.

    Furthermore, the Commission pays particular attention to the specific needs of SMEs with international ambitions and deploys several tools to support them trade internationally, such as the Access2Markets platform[9] or dedicated SME chapters in trade agreements.

    • [1] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32021R0695.
    • [2] https://eic.ec.europa.eu/about-european-innovation-council_en.
    • [3] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:02021R0523-20240301&qid=1749143262375.
    • [4] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32021R0690.
    • [5] https://een.ec.europa.eu/.
    • [6] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02021R0697-20240301.
    • [7] European Commission: The Single Market: our European home market in an uncertain world A Strategy for making the Single Market simple, seamless and strong — 21.5.2025 COM(2025) 500 final.
    • [8] European Commission: The EU Startup and Scaleup Strategy Choose Europe to start and scale — 28.5.2025 COM(2025) 270 final.
    • [9] https://trade.ec.europa.eu/access-to-markets/en/home.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – The scourge of Sargassum – E-002707/2025

    Source: European Parliament

    Question for written answer  E-002707/2025
    to the Commission
    Rule 144
    Rody Tolassy (PfE), André Rougé (PfE), France Jamet (PfE), Marie-Luce Brasier-Clain (PfE), Marie Dauchy (PfE), Pierre Pimpie (PfE), Virginie Joron (PfE), Angéline Furet (PfE), Mélanie Disdier (PfE)

    A few days ago in Nice, the Commission President unveiled the European ocean pact. In the West Indies, however, our children are still having to breathe in toxic fumes emanating from rotting Sargassum.

    This seaweed scourge has been coming back every season for 14 years now, with devastating effects on people’s health, the environment and the economy.

    This is not only the result of climate change: it is also caused by structural imbalances, including transatlantic currents and eutrophication.

    Faced with this perma-crisis, companies are now coming up with innovative solutions that can be industrialised, such as gathering the seaweed out at sea and turning it into energy or usable materials.

    This positive model could be replicated in other regions affected by the problem in the Caribbean, Africa and the Pacific. It’s time to turn this nuisance into a sustainable resource.

    What strategy is the Commission planning to put in place, in particular via ambitious funding arrangements, to support these initiatives and turn Sargassum into a driver of innovation for the benefit of the overseas territories?

    Supporter[1]

    Submitted: 2.7.2025

    • [1] This question is supported by a Member other than the authors: Jean-Paul Garraud (PfE)

    MIL OSI Europe News –

  • MIL-OSI Europe: Highlights – BUDG- CONT- Presentation of ECA Review 3/2025: Opportunities for the post-2027 MFF – Committee on Budgetary Control

    Source: European Parliament

    Presentation of ECA Review 3/2025: Opportunities for the post-2027 MFF © Image used under license from Adobe Stock

    On 15 July the European Court of Auditors (ECA) Review 03/2025: “Opportunities for the post-2027 Multiannual Financial Framework (MFF)” will be presented to Members of the Committee on Budgets (BUDG) and of the Committee of Budgetary Control (CONT) by reporting ECA Member Jan Gregor.

    The Commission’s Communication “The road to the next multiannual financial framework (MFF)” outlines the policy challenges and provides guidance for its upcoming MFF proposal, which is expected on 16 July. The Court’s review is structured around the main themes of the Communication and identifies opportunities for the design of the next MFF, based on the Court’s knowledge and audit experience concerning EU budgetary revenue and expenditure. The review aims to contribute to the ongoing debate on the next long-term EU budget.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Questionable EU funding of ‘independent’ media – E-002704/2025

    Source: European Parliament

    Question for written answer  E-002704/2025
    to the Commission
    Rule 144
    Charlie Weimers (ECR), Dick Erixon (ECR), Beatrice Timgren (ECR)

    Recent analyses indicate that EU media-related spending significantly exceeds publicly stated figures[1]. While the Commission cites an annual allocation of EUR 20–21 million for ‘multimedia actions’, actual spending reportedly approaches EUR 35 million per year, with around EUR 150 million flowing directly or indirectly into newsrooms. Euronews, which has received approximately EUR 227 million in EU funds since 2014, has been the subject of concerns regarding the transparency of and accountability for the financial support received[2].

    The Commission claims to support media pluralism. In parallel, new outlets are emerging with generous EU support. Observers have noted that EU media funding is complex and difficult to trace, making oversight and public scrutiny challenging[3].

    • 1.How does the Commission ensure that its media funding mechanisms do not distort competition or undermine editorial independence?
    • 2.Will the Commission publish a comprehensive annual breakdown of all media-related expenditures across all funding streams?
    • 3.What steps is it taking to improve traceability and transparency in the allocation and monitoring of EU media funds?

    Submitted: 2.7.2025

    • [1] https://www.euractiv.com/section/politics/news/money-for-nothing-commission-pours-millions-into-struggling-eu-media/.
    • [2] Not least by the Court of Auditors; https://www.eca.europa.eu/lists/ecadocuments/rcr_euronews/rcr_euronews_en.pdf.
    • [3] See the statement of Marius Dragomir in the Euractiv article cited in footnote one.
    Last updated: 9 July 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Alleged irregularities in the award of RRF funds to companies linked to a scheme investigated for corruption in Spain – E-002652/2025

    Source: European Parliament

    Question for written answer  E-002652/2025
    to the Commission
    Rule 144
    Dolors Montserrat (PPE)

    The Spanish government is said to have allocated at least EUR 21 million from the Recovery and Resilience Facility (RRF) to companies linked to the alleged corruption network associated with senior PSOE officials in the Spanish government. These companies (Acciona, Levantina Ingeniería y Construcción, Áridos Anfersa, Obras Públicas y Regadíos, and Servinabar 2000) are said to be the subject of an investigation by the Central Operational Unit of the Guardia Civil for possible distribution of illegal commissions in the award of public works contracts.

    Considering the above:

    • 1.Does the Commission intend to open an investigation to establish whether there has been a breach of the principles of sound financial management, transparency and fraud prevention referred to in Regulation (EU) 2021/241 on the RRF?
    • 2.What oversight and control measures has the Commission put in place or does it intend to put in place with regard to the allocation and use of these funds in this particular case?

    Submitted: 1.7.2025

    Last updated: 9 July 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Highlights – BUDG-CONT – Presentation of ECA Review 3/2025: Opportunities for the post-2027 MFF – Committee on Budgets

    Source: European Parliament

    © Image used under license from Adobe Stock

    On 15 July the European Court of Auditors (ECA) Review 03/2025 “Opportunities for the post-2027 Multiannual Financial Framework (MFF)” will be presented to Members of the Committee on Budgets (BUDG) and of the Committee of Budgetary Control (CONT) by ECA Reporting Member Jan Gregor.

    The Commission’s Communication “The road to the next multiannual financial framework (MFF)” outlines the policy challenges and provides guidance for its upcoming MFF proposal, which is expected on 16 July. The Court’s review is structured around the main themes of the Communication and identifies opportunities for the design of the next MFF, based on the Court’s knowledge and audit experience concerning EU budgetary revenue and expenditure. The review aims to contribute to the ongoing debate on the next long-term EU budget.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Housing emergency in Italy for vulnerable groups and students – E-002620/2025

    Source: European Parliament

    Question for written answer  E-002620/2025
    to the Commission
    Rule 144
    Valentina Palmisano (The Left)

    In Italy, a worsening housing emergency is severely affecting vulnerable households, individuals with disabilities, people struggling socio-economically and university students. Despite the use of EU resources (National Recovery and Resilience Plan (NRRP) and the European Regional Development Fund (ERDF)), many municipalities are reporting delays to public housing and urban regeneration projects, with particularly serious effects in the south.

    At the same time, the right to study is being severely undermined by the high cost of renting: in the main Italian university cities, average rent for a single room exceeds EUR 600, making attending university increasingly less accessible to people from low-income families.

    In the light of these problems:

    • 1.What is the state of play of the NRRP-funded university housing programme and what steps have been planned to ensure it has been implemented in full by June 2026?
    • 2.What steps will be taken to ensure that European Investment Bank and cohesion policy funds have a tangible impact on housing supply in towns and cities experiencing high housing pressure, and is a social impact assessment being planned?
    • 3.Why are municipalities not fully involved in the affordable housing initiative decision-making processes, and will their operational and financial role be stepped up?

    Submitted: 30.6.2025

    Last updated: 9 July 2025

    MIL OSI Europe News –

  • MIL-OSI Africa: Government to publish strategy for planned disaster risk management

    Source: Government of South Africa

    With the Southern African region experiencing a growing number of climate-related disasters, government says it will increase its focus on reducing the fiscal and human cost of disasters by planning for them instead of reacting to them.

    “When disasters strike, government is forced to reallocate funds from other priorities to respond, often at the cost of long-term development. This cycle of crisis and reallocation is unsustainable,” the Deputy Minister of Finance, Ashor Sarupen, said on Tuesday in Parliament. 

    Through the finalisation and publishing of a National Disaster Risk Financing Strategy in the 2025/26 financial year, government’s strategy will shift from reactive funding to proactive, planned disaster risk management.

    The strategy will:

    • Introduce disaster risk financing instruments, including climate insurance products, to improve response time and predictability of funding;
    • Embed disaster risk management in grant frameworks, particularly those for infrastructure and local government, and
    • Support line departments and municipalities in mainstreaming climate risk into their financial planning and investment decisions.

    “Climate change is not a future threat. It is a present reality, and our budget frameworks must reflect that,” Sarupen said while tabling the National Treasury’s Budget Vote.

    Spending for Growth

    As part of National Treasury’s broader macroeconomic framework reforms to drive structural economic transformation and attract investment, public infrastructure spending will exceed R1 trillion over three years. 

    “This represents the fastest-growing area of government expenditure and is aimed at easing supply-side economic constraints and improving social service access. 

    “The Budget Facility for Infrastructure (BFI) is being reconfigured to attract private sector participation through multiple appraisal windows, separated investment and financing decisions, and diversified financing instruments including guarantees, build-operate-transfer structures, and concessional loans,” the Deputy Minister said. 

    New public-private partnership (PPP) regulations, effective 1 June 2025, have reduced procedural complexity, with supporting frameworks for unsolicited proposals and fiscal commitments to be published soon, while municipal PPP regulations will be finalised before the Medium-Term Budget Policy Statement.

    “A single National Treasury-overseen structure will be established this year to systematically crowd-in private sector finance and expertise, consolidating large-scale project preparation, providing PPP technical support, improving data management, and enhancing private sector engagement,” he said.

    Rebuilding local government finances

    In an effort to address service delivery breakdowns, fiscal mismanagement, and governance failures at municipalities, National Treasury is responding with targeted support and structural financial reforms.

    National Treasury’s approach focuses on the following key areas:

    • Adoption of Funded Budgets: Municipalities can no longer adopt unfunded budgets based on wishful projections. Treasury is enforcing the requirement for credible, funded budgets as the basis of municipal financial planning.
    • Revenue Value Chain Reforms: Treasury is supporting municipalities to improve billing systems, strengthen collection rates, and protect revenue integrity. Without this, no budget can be sustainable.
    • Capacity Building: Through direct technical support, Treasury is building the financial management skills of municipal officials, particularly CFOs and budget managers.
    • Financial Recovery Plans: For municipalities in financial distress, Municipal Financial Recovery Services (MFRS) provide tailored recovery plans. These are not generic interventions, they are grounded in the real financial position of each municipality.
    • mSCOA Implementation: The Municipal Standard Chart of Accounts (mSCOA) brings transparency and uniformity to local government finances. It allows us to compare apples with apples — across municipalities, across provinces, and across time.
    • Consequence Management: Treasury is working closely with the Department of Co-operative Governance and Traditional Affairs (CoGTA) and the Auditor-General South Africa (AGSA) to ensure that financial misconduct is addressed swiftly. Public money must be protected. Where there is wrongdoing, there must be consequences.

    Reforming the auditing profession

    After years of audit failures in both the public and private sectors, National Treasury is currently reviewing the Auditing Profession Act.

    The Act provides for the establishment of the Independent Regulatory Board for Auditors; the education, training and professional development of registered auditors; the accreditation of professional bodies; the registration of auditors, and the regulation of the conduct of registered auditors.

    “The proposed amendments are designed to strengthen the Independent Regulatory Board for Auditors (IRBA) and align our regulatory framework with international best practice. These reforms are not just technical changes; they are about fostering trust, integrity, and public confidence in the profession. The auditing profession plays a critical role in financial markets and public accountability,” the Deputy Minister said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Trade Minister welcomes developments in Vodacom-Maziv merger

    Source: Government of South Africa

    Trade, Industry and Competition Minister Parks Tau has welcomed the agreement reached between the merging parties and the Competition Commission in the Vodacom-Maziv merger deal.

    “The substantial public interest commitments made by the merging parties will significantly improve access to affordable internet for underserved communities, thus enabling easier participation in economic activity, particularly for young people,” the Department of Trade, Industry and Competition (dtic) said on Wednesday.

    In October last year, the Minister noted the order issued by the Competition Tribunal prohibiting the proposed merger between Vodacom (Pty) Ltd and Maziv (Business Venture Investments No. 2213 (Pty) Ltd).

    The order followed the Competition Commission’s initial recommendation to prohibit the merger, citing significant concerns that it could substantially reduce competition in critical markets, particularly within the 5G Fixed Wireless Access (FWA) and fibre infrastructure sectors.

    READ | Minister notes Competition Tribunal’s decision on Vodacom, Maziv merger

    In a statement on Tuesday, the Competition Commission said it had reached an agreement with the parties on revised conditions that substantially remedy the competition concerns raised by the Commission in its recommendation to the Tribunal that the Vodacom/Maziv merger be prohibited.

    This agreement follows constructive engagements between the Commission and the merger parties to remedy the deficiencies in the previous conditions identified by the Tribunal in its prohibition of the merger.

    There were three primary competition concerns that were not adequately addressed by the proposed conditions at the time of concluding the Tribunal hearings.

    The first of these was the horizontal reduction in competition between Fixed Wireless Access (FWA) and Fibre to the Home (FTTH).

    According to the Commission, the revised conditions address these shortcomings by improving the capex commitment by Maziv and extending it to a five-year period post-merger to ensure that Maziv remains incentivised to service third party network operators.

    The second issue was the horizontal overlap in FTTH infrastructure and potential price increases post-merger.

    “The previous conditions were inadequate insofar as they included a ‘weak’ divestiture condition that did not adequately incentivise the merging parties to divest the overlapping infrastructure. The revised conditions put in place a standard divestiture arrangement whereby the failure to sell the assets within a particular period result in a trustee divestiture process to ensure the assets are divested and pre-merger competition is restored,” said the Commission.

    It further added that the condition follows the standard formulation used in other merger transactions and requires that a transparent and competitive process be followed to identify a proposed purchaser.
    The third issue was over vertical foreclosure concerns with the commission stating that although there were fairly comprehensive conditions in place to address foreclosure, there were notable challenges with monitoring and enforcing the conditions with the resulting concern that action would not be sufficiently timely to prevent foreclosure from occurring and harming competition.

    “The revised conditions introduce some structural changes to Maziv’s governance structure that limit the merged entity’s incentives to foreclose competitors. The conditions now also incorporate an enhanced fast-track interim relief process that will address potential foreclosure concerns while the lengthier formal process to investigate any alleged foreclosure is underway. This ensures that any attempt to get a first-mover advantage that will have an enduring effect in the market can be prevented through fast-track interim relief,” it said.

    Public interest

    The Commission added that there are significant improvements to the public interest commitments which increase the substantiality of these commitments.

    These include additional capex spend to roll-out new (Fibre-to-theBusiness (FTTB), FTTH and Fibre-to-the-Site (FTTS) infrastructure, free access to 1Gigabit per second fibre lines for public libraries and clinics passed by FTTH infrastructure, an increase in the number of police stations that Vodacom will provide with FWA products, an additional commitment to enterprise development and an increase in the employee share ownership plan previously agreed.

    “Access to reliable, high-speed internet is the cornerstone of a dynamic economy and a democratic society. The Commission is confident that the revised conditions agreed with the merger parties will ensure that South Africa will benefit from the continued competitive prices and product choices in this critical sector,” Commissioner Doris Tshepe said.

    This as Minister Tau further welcomed the investment committed by parties.

    “This commitment will ensure that South Africa participates meaningfully in the global economy through new sectors like Generative Artificial Intelligence, the Internet of Things and other ICT related sectors which will propel the world into the future.

    “The matter will proceed, unopposed, at the Competition Appeal Court where the agreement will be placed before the Court for its final consideration. The Minister thanks all parties involved for their constructive engagement throughout this process,” said the dtic.

    The Commission as one of the the three independent statutory bodies established in terms of the Competition Act to regulate competition between firms in the market, it is the investigating and prosecuting agency in the competition regime while the Tribunal is the court. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Government to ensure that the SANDF is well resourced 

    Source: Government of South Africa

    In spite of the ongoing financial constraints which affect the planning and operations of the South African National Defence Force (SANDF), government has assured the troops that they will have the resources needed to defend and protect the country.

    “This includes ensuring soldiers are properly equipped with the uniforms, boots, protective gear, and habitable facilities catering for the needs of all including women soldiers and persons with disabilities,” the Minister of Defence and Military Veterans, Angie Motshekga, said on Wednesday in Parliament.

    Selected “Model Units” will receive priority upgrades ensuring safety and security, well- maintained bases, sports and recreation facilities, and training areas.

    Soldiers on deployment will also get priority support for all their needs during deployment.

    “Efforts are underway to rejuvenate the SANDF’s human resource profile, modernise, maintenance, repair and overhaul of the prime mission equipment, with the South African Defence Industry (SADI) as the key national defence partner,” the Minister said during the debate of the budgets of the Departments of Defence and Military Veterans.

    The Department of Defence Human Resources Plan for the 2025 Medium Term Expenditure Framework reflects a deliberate and phased approach to sustaining a capable, rejuvenated, and cost-efficient defence workforce within existing budgetary constraints.
    The Department of Defence has received a total budget allocation of R57 183 billion for 2025/26.

    Of this budget allocation, R36 703 billion has been set as the ceiling for the Compensation of Employees (COE), constituting approximately 64% of the defence allocation.

    Furthermore, approximately R8 359 billion is earmarked, which includes, among others:
    • R2 773 billion for accommodation charges, leases and municipal services;
    • R2 556 billion for the Southern African Development Community (SADC) Mission in the Democratic Republic of Congo (SAMIDRC);
    • R1 464 billion transfer payment to Armscor;
    • R487 million for the Republic’s assessed contribution to SADC for the SAMIDRC deployment;
    •  R480 million for the repair and maintenance of maritime defence systems;
    •  R300 million for day-to-day maintenance and emergency repairs and
    •  R200 million-rand for the procurement of vehicles and technology for border safeguarding.

    The Defence Force has been allocated R12 billion to meet its constitutional mandate.

    Repositioning the South African Defence Industry

    The Department of Defence is working on repositioning the SADI to pursue the strategic goal of economic growth and job creation.

    “In this regard the SADI must be positioned as a vital economic asset, ready for expansion to drive national development and support government priorities for a capable state and become a strong local defence industry that creates jobs, develops new technologies, and ensures that the SANDF is well-equipped.

    “Cooperation between Denel, local companies, and international partners will be expanded to boost exports and attract investment. The centrality of Denel is critical in the maintenance and support of the SANDF,” the Minister said.

    She called for the repositioning of Armscor as an entity for SANDF Equipment and Capability Modernisation, to be intensified to make sure that Maintenance, Repair, and Overhaul (MRO) for midlife upgrades and modernisation of PME (air, land, naval domains) guarantees the longevity and mission effectiveness for the SANDF.

    Military veterans

    The military veterans has been allocated R878 million for the 2025/26 financial year.

    “In collaboration with sister departments, we have embarked on a project to repatriate the remains of our fallen heroes and heroines in Zambia and Zimbabwe during 2024. A total number of 35 mortal remains have been repatriated thus far and further work is underway,” the Minister said.

    Over the past three audited financial years the Department of Military Veterans Education Support Benefit provided learners and students as follows:
    • During the 2021/22 financial year, 3 711 learners and students at a cost of R88 million.
    • In the 2022/23 financial year, a total number of 4 114 learners and students at a cost of R126 million.
    • 3 690 learners and students cost the department R135 million during the 2023/24 financial year.

    The unaudited information for the 2024/25 financial year, shows that 2 738 learners and students were provided with education support to continue with their studies.

    To date at least 100 have graduated. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI: Bitcoin Solaris Mobile Mining Debuts on LBank with Revolutionary App

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, July 09, 2025 (GLOBE NEWSWIRE) — If you asked a crypto investor in 2018 whether mobile mining would ever be a thing, most would have laughed. Fast forward to 2025, and not only is it real, it’s live, global, and profitable thanks to Bitcoin Solaris. The long-awaited Solaris Nova App has officially debuted alongside the token’s upcoming listing on LBank, bringing with it a completely reimagined way to mine crypto.

    In a world where most mining is still monopolized by expensive rigs and massive electricity bills, Bitcoin Solaris is flipping the game on its head. The goal is clear: make mining accessible, eco-friendly, and incredibly profitable for anyone.

    The LBank Listing: Why It Matters for Miners

    LBank is one of the fastest-growing centralized exchanges catering to early-stage altcoins and breakout tokens. Bitcoin Solaris’s listing there is more than a visibility boost. It’s a liquidity moment for miners and holders alike. The listing solidifies BTC-S’s legitimacy and enables real-time conversion from mined tokens to stablecoins or other assets. That means every token mined through your device or laptop suddenly becomes more than a number on a screen, it becomes accessible capital.

    LBank’s integration also simplifies wallet transfers and paves the way for mass adoption through mobile platforms. Whether you’re mining from a basic Android phone or a high-end gaming rig, the upcoming LBank listing turns your BTC-S into liquid gold.

    Meet the Solaris Nova App: Mobile Mining, Reimagined

    The Solaris Nova App is the centerpiece of Bitcoin Solaris’s Universal Mining model. It’s not just another mining program, it’s an entire ecosystem packaged into one simple interface. The app supports Android, iOS, Windows, macOS, Linux, and even browser-based mining.

    Key features include:

    • One-tap mining functionality with built-in wallet support
    • Adaptive algorithms that calibrate for energy efficiency
    • Support for smartphones, laptops, and professional mining rigs
    • In-app tutorials for beginners and advanced customization for experts
    • 99.95% lower energy consumption than traditional Bitcoin mining
    • 2-second transaction finality powered by dual-consensus architecture

    What sets it apart is how easily it integrates mining into everyday life. You don’t need to be a blockchain engineer or own an expensive ASIC setup. If you have a phone and a few minutes, you’re in the game.

    Presale Status: Time Is Ticking

    Bitcoin Solaris has officially entered Phase 11 of its blazing-fast presale. The current price sits at $11, with the next phase holding steady at the same rate before the anticipated $20 launch price. With less than 4 weeks to go, this is shaping up to be one of the shortest and most explosive presales in recent memory.

    More than 13,900 unique users have already joined, pushing total contributions past the $6.3 million mark. The momentum is undeniable, and now, it’s being supercharged.

    Real Tech, Real Speed, Real Impact Only on Bitcoin Solaris

    In an unprecedented move, Bitcoin Solaris is introducing a limited-time Rollback. For a very short window, the price will drop to just $5. This rollback isn’t just generous, it’s rare. The team is recognizing the extraordinary support BTC-S has received, and opening the door for more participants to enter at an unbeatable rate. It’s a one-off opportunity that early believers simply shouldn’t ignore.

    To receive your tokens on launch day, Bitcoin Solaris recommends using Trust Wallet or Metamask for seamless delivery. These wallets are only for receiving tokens, not required for purchasing or joining the presale.

    Why Mining BTC-S Is Catching Fire

    Bitcoin Solaris mining isn’t just a gimmick. It’s tied into one of the most advanced consensus models in the crypto world. The hybrid Proof-of-Work and Delegated Proof-of-Stake system allows anyone to participate while supporting blazing speeds and low fees. That blend also enables real decentralization and network security without killing your device or your power bill.

    Here’s what makes it appealing:

    • Global access from any device, anywhere
    • Seamless validator rotation keeps things efficient
    • Reward potential scales with contribution, not wallet size
    • Participation feeds directly into network health

    Oh, and if you want to see how much you can make, check the official BTC-S mining calculator.

    In addition, Bitcoin Solaris introduced daily mini games for its holders for a chance to earn daily rewards, checkout all the details here.

    What’s the Catch?

    Honestly, there doesn’t seem to be one. Bitcoin Solaris has already passed audits from both Cyberscope and Freshcoins, reinforcing its credibility. And with an active community buzzing across Telegram and X, the network effect is snowballing.

    Final Verdict

    Bitcoin Solaris isn’t just riding the mobile mining trend, it’s leading it. By merging energy-efficient mining, accessible tech, a powerful app ecosystem, and a huge exchange listing, BTC-S delivers what old-school Bitcoin miners never could: simplicity and profitability for the everyday user.

    And now with the LBank listing just around the corner, the barrier between mining and real profit is officially gone.

    For more information on Bitcoin Solaris:

    Website: https://www.bitcoinsolaris.com/
    Telegram: https://t.me/Bitcoinsolaris
    X: https://x.com/BitcoinSolaris

    Media Contact:
    Xander Levine
    press@bitcoinsolaris.com
    Press Kit: Available upon request

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

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

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/36e37bde-7820-4a25-8f91-0a5e64b8bb99

    https://www.globenewswire.com/NewsRoom/AttachmentNg/cee6b647-44c7-4e7d-ba90-e36ee65f07de

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    The MIL Network –

  • MIL-OSI: Bitcoin Solaris Mobile Mining Debuts on LBank with Revolutionary App

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, July 09, 2025 (GLOBE NEWSWIRE) — If you asked a crypto investor in 2018 whether mobile mining would ever be a thing, most would have laughed. Fast forward to 2025, and not only is it real, it’s live, global, and profitable thanks to Bitcoin Solaris. The long-awaited Solaris Nova App has officially debuted alongside the token’s upcoming listing on LBank, bringing with it a completely reimagined way to mine crypto.

    In a world where most mining is still monopolized by expensive rigs and massive electricity bills, Bitcoin Solaris is flipping the game on its head. The goal is clear: make mining accessible, eco-friendly, and incredibly profitable for anyone.

    The LBank Listing: Why It Matters for Miners

    LBank is one of the fastest-growing centralized exchanges catering to early-stage altcoins and breakout tokens. Bitcoin Solaris’s listing there is more than a visibility boost. It’s a liquidity moment for miners and holders alike. The listing solidifies BTC-S’s legitimacy and enables real-time conversion from mined tokens to stablecoins or other assets. That means every token mined through your device or laptop suddenly becomes more than a number on a screen, it becomes accessible capital.

    LBank’s integration also simplifies wallet transfers and paves the way for mass adoption through mobile platforms. Whether you’re mining from a basic Android phone or a high-end gaming rig, the upcoming LBank listing turns your BTC-S into liquid gold.

    Meet the Solaris Nova App: Mobile Mining, Reimagined

    The Solaris Nova App is the centerpiece of Bitcoin Solaris’s Universal Mining model. It’s not just another mining program, it’s an entire ecosystem packaged into one simple interface. The app supports Android, iOS, Windows, macOS, Linux, and even browser-based mining.

    Key features include:

    • One-tap mining functionality with built-in wallet support
    • Adaptive algorithms that calibrate for energy efficiency
    • Support for smartphones, laptops, and professional mining rigs
    • In-app tutorials for beginners and advanced customization for experts
    • 99.95% lower energy consumption than traditional Bitcoin mining
    • 2-second transaction finality powered by dual-consensus architecture

    What sets it apart is how easily it integrates mining into everyday life. You don’t need to be a blockchain engineer or own an expensive ASIC setup. If you have a phone and a few minutes, you’re in the game.

    Presale Status: Time Is Ticking

    Bitcoin Solaris has officially entered Phase 11 of its blazing-fast presale. The current price sits at $11, with the next phase holding steady at the same rate before the anticipated $20 launch price. With less than 4 weeks to go, this is shaping up to be one of the shortest and most explosive presales in recent memory.

    More than 13,900 unique users have already joined, pushing total contributions past the $6.3 million mark. The momentum is undeniable, and now, it’s being supercharged.

    Real Tech, Real Speed, Real Impact Only on Bitcoin Solaris

    In an unprecedented move, Bitcoin Solaris is introducing a limited-time Rollback. For a very short window, the price will drop to just $5. This rollback isn’t just generous, it’s rare. The team is recognizing the extraordinary support BTC-S has received, and opening the door for more participants to enter at an unbeatable rate. It’s a one-off opportunity that early believers simply shouldn’t ignore.

    To receive your tokens on launch day, Bitcoin Solaris recommends using Trust Wallet or Metamask for seamless delivery. These wallets are only for receiving tokens, not required for purchasing or joining the presale.

    Why Mining BTC-S Is Catching Fire

    Bitcoin Solaris mining isn’t just a gimmick. It’s tied into one of the most advanced consensus models in the crypto world. The hybrid Proof-of-Work and Delegated Proof-of-Stake system allows anyone to participate while supporting blazing speeds and low fees. That blend also enables real decentralization and network security without killing your device or your power bill.

    Here’s what makes it appealing:

    • Global access from any device, anywhere
    • Seamless validator rotation keeps things efficient
    • Reward potential scales with contribution, not wallet size
    • Participation feeds directly into network health

    Oh, and if you want to see how much you can make, check the official BTC-S mining calculator.

    In addition, Bitcoin Solaris introduced daily mini games for its holders for a chance to earn daily rewards, checkout all the details here.

    What’s the Catch?

    Honestly, there doesn’t seem to be one. Bitcoin Solaris has already passed audits from both Cyberscope and Freshcoins, reinforcing its credibility. And with an active community buzzing across Telegram and X, the network effect is snowballing.

    Final Verdict

    Bitcoin Solaris isn’t just riding the mobile mining trend, it’s leading it. By merging energy-efficient mining, accessible tech, a powerful app ecosystem, and a huge exchange listing, BTC-S delivers what old-school Bitcoin miners never could: simplicity and profitability for the everyday user.

    And now with the LBank listing just around the corner, the barrier between mining and real profit is officially gone.

    For more information on Bitcoin Solaris:

    Website: https://www.bitcoinsolaris.com/
    Telegram: https://t.me/Bitcoinsolaris
    X: https://x.com/BitcoinSolaris

    Media Contact:
    Xander Levine
    press@bitcoinsolaris.com
    Press Kit: Available upon request

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

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

    Photos accompanying this announcement are available at

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    https://www.globenewswire.com/NewsRoom/AttachmentNg/7c7a009f-2ec3-4f50-a811-9941df7f9d5a

    The MIL Network –

  • MIL-OSI: Latest XRP News: MAGACOIN FINANCE Raises $10.54M Amid SEC Regulatory Challenges, Offering Secure Investment Alternative

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 09, 2025 (GLOBE NEWSWIRE) — MAGACOIN FINANCE’s successful fundraising milestone highlights growing investor trust, underpinned by a robust, fully audited smart contract verified by the renowned blockchain security firm HashEx. This comprehensive audit assures investors of the project’s transparency, integrity, and security.

    The project has already garnered the participation of over 5,234 verified holders, demonstrating significant community buy-in and organic investor growth. MAGACOIN FINANCE sets itself apart with transparent tokenomics, clearly outlining a fixed total supply of 170 billion tokens with strategic distribution designed to support long-term stability and growth.

    Key Highlights of MAGACOIN FINANCE:

    • Fully audited and transparent smart contract.
    • Over $10.54 million raised from real, verified investors.
    • Clear and fair tokenomics with public accountability.
    • Strategic roadmap featuring staking rewards, community incentives, and upcoming centralized exchange (CEX) listings.
    • Analysts project up to 75x returns based on current pricing and anticipated post-launch adoption.

    About MAGACOIN FINANCE

    MAGACOIN FINANCE represents a new generation of cryptocurrency focused on transparency, security, and sustainable growth. With its audited smart contract and clearly defined token distribution, MAGACOIN FINANCE is designed to eliminate barriers typically associated with cryptocurrency investments. The project emphasizes robust investor protections, stable token economics, and a clear roadmap aimed at long-term adoption and market stability.

    For full details and participation options please visit: https://magacoinfinance.com

    Contact Details

    For investor inquiries, media coverage, or partnership opportunities, please contact our dedicated PR team:

    PR Specialist:
    Rebecca Miles
    Email: rebecca@magacoinfinance.com

    Disclaimer: This press release is provided by MAGACOIN FINANCE. 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. 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. 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. Speculate only with funds that you can afford to lose. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    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 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c81d259-5e75-4998-825c-502f0d50e904

    The MIL Network –

  • MIL-OSI: Debt Financing in USA for Venture, Business, and Real Estate Loan Options Explained

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 09, 2025 (GLOBE NEWSWIRE) — 50KLoans, a leading US based loan comparison and matchmaking platform, has announced the official launch of its nationwide debt financing service, providing individuals, startups, and real estate investors with fast access to capital while retaining full ownership of their assets.

    In today’s economic climate, securing funding without giving up equity is critical. Through this new offering, 50KLoans connects borrowers with vetted lenders offering various types of debt financing, including real estate debt financing, venture debt financing, and small business term loans. Applicants can secure funding ranging from $5,000 to $500,000 with flexible terms and competitive interest rates.

    Check Your Eligibility for Debt Financing >>

    What Is Debt Financing and Who Is It For?

    For those unfamiliar, what is debt financing? Simply put, it refers to borrowing money that must be repaid over time with interest. According to the debt financing definition, this model allows businesses and individuals to raise capital without selling ownership stakes.

    • Real estate developers seeking property funding
    • Entrepreneurs avoiding early equity dilution
    • Businesses needing expansion capital or equipment loans
    • High-growth startups seeking venture debt financing to extend runway between equity rounds

    Types of Debt Financing Offered via 50KLoans

    50KLoans helps users explore different types of debt financing through its streamlined platform:

    • Real Estate Debt Financing – Funding for residential, commercial, or fix-and-flip property purchases.
    • Venture Debt Financing – Designed for startups with venture backing, without giving up more equity.
    • Short-Term Loans – Quick funding for temporary cash flow issues.
    • Installment Business Loans – Fixed monthly repayment plans from 6 to 60 months.
    • Line of Credit – Flexible access to revolving funds for ongoing operational needs.

    Check Your Eligibility for Debt Financing >>

    Advantages and Disadvantages of Debt Financing

    Before applying, it’s crucial to understand the advantages and disadvantages of debt financing:

    Advantages:

    • Retain full business ownership
    • Tax-deductible interest payments
    • Fixed repayment terms provide financial clarity

    Disadvantages:

    • Requires consistent cash flow for repayment
    • Missed payments can impact credit or lead to collateral loss

    Real Estate and Commercial Debt Financing Options

    With the surge in property investments and developments, commercial real estate debt financing has become a major segment. 50KLoans helps users connect with lenders for:

    • Fix-and-flip loans
    • Multi-family and commercial property loans
    • Bridge financing for property transitions

    How to Apply for Debt Financing with 50KLoans

    1. Visit 50KLoans and select the “Debt Financing” option from the homepage.
    2. Complete a short 2-minute application with basic business or personal financial details, no credit check required.
    3. Get instantly matched with trusted lenders offering various types of debt financing, including real estate and venture debt financing.
    4. Compare personalized loan offers, repayment terms, and interest rates—all in one place.
    5. Select the best offer for your needs and receive funds, often within 24 hours of approval.

    FAQs

    What is debt financing and how does it differ from equity?
    Debt financing means borrowing money with a promise to repay, while equity financing involves selling shares in your company.

    Is real estate debt financing available nationwide?
    Yes, applicants across the USA can access real estate loans through partnered lenders.

    Are there risks to debt financing?
    Like any loan, repayment is mandatory. It’s important to assess your repayment capacity before applying.

    Media Contact:
    Mukesh Bhardwaj
    Email: mukesh@paydayventures.com

    Disclaimer: 50KLoans is not a lender and does not make credit decisions. Loan approvals, rates, and terms are set by third-party lenders based on individual eligibility and underwriting criteria.

    The MIL Network –

  • MIL-OSI: Triskell Software Launches ‘Ready Suite’ to Accelerate Strategic Execution for Enterprises Worldwide

    Source: GlobeNewswire (MIL-OSI)

    MADRID, July 09, 2025 (GLOBE NEWSWIRE) — Triskell Software, a leading European provider of cloud-based Project Portfolio Management (PPM) solutions, today announced the global launch of the Triskell Ready Suite, a set of preconfigured, business-function-focused solutions designed to help enterprises accelerate strategic execution in today’s fast-moving business environment.

    The Ready Suite marks a significant expansion of Triskell’s core platform capabilities, offering organizations rapid deployment options for key areas such as IT governance, new product development, project portfolio management, and strategic portfolio management. The release enables clients to achieve measurable value faster—without lengthy implementations or complex customization processes.

    “Enterprises are under pressure to move quickly without compromising strategic alignment,” said Angel Garcia Triskell Software, CEO, as spokesperson. “The Ready Suite gives customers a head start—combining the depth of our PPM platform with industry best practices built-in.”

    Triskell’s SaaS-based platform has been widely adopted by PMOs, CIOs, and executive leadership teams in industries including manufacturing, finance, insurance, and the public sector. With full support for Agile, hybrid, and waterfall methodologies, the platform is ideal for organizations navigating complex, cross-functional initiatives.

    The launch of the Triskell Ready Suite reflects growing global demand for scalable, flexible solutions that support enterprise transformation. Triskell clients now benefit from a faster onboarding experience while retaining the full configurability and strategic visibility the platform is known for.

    This product expansion follows a period of steady global growth for Triskell Software, with strong traction across Europe, North America, and Latin America. The company was recently recognized in the Gartner Market Guide for Enterprise Agile Planning Tools (2025) and the Forrester Strategic Portfolio Management Tools Report, underscoring its leadership in the PPM and agile transformation space.

    About Triskell Software
    Founded in 2011 and headquartered in Madrid, Triskell Software provides a flexible, enterprise-grade platform for managing strategy, project portfolios, resources, and financials—all in one place. Triskell helps organizations improve decision-making and accelerate value delivery by aligning execution with business goals. Learn more at www.triskellsoftware.com.

    Media Contact

    Company Name: Triskell Software
    Contact Person: Ignacio Carrasco
    Email: media@triskellsoftware.com
    Address: Calle Tellez 58, Madrid, Spain
    Postal code-28007
    Website: https://triskellsoftware.com

    Disclaimer: This press release is provided by the Triskell Software. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of media publisher.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d7e17541-5f4c-4dd1-ac58-603ee9a556a3

    The MIL Network –

  • MIL-OSI Russia: Solid Bank has joined the implementation of the Long-Term Savings Program

    Translation. Region: Russian Federal

    Source: Solid Bank – Solid Bank –

    An important disclaimer is at the bottom of this article.

    Solid Bank, together with its partner JSC NPF GAZFOND Pension Savings, has launched a unique savings product – the Long-Term Savings Program. The program was developed by the Bank of Russia and the Ministry of Finance on behalf of the President of the Russian Federation. With it, citizens will be able to create capital or a financial cushion with state support. Savings are formed through personal contributions, state co-financing and the fund’s investment income.

    The long-term savings program has the following benefits for depositors:

    • State support in the form of cash contributions of up to 36,000₽/year for 10 years.

    • Possibility of receiving a tax deduction in the amount of 13%-22% of the amount of contributions paid, not exceeding 400,000₽/year. That is, the client can receive about 52,000-88,000₽/year. This depends on the annual income of the depositor and the personal income tax rate applied to his income.

    • Savings are insured by the Deposit Insurance Agency. Personal savings contributions and investment income on them are insured in the amount of up to 2.8 million ₽. And pension savings transferred from the OPS, additional incentive contributions (state co-financing) and investment income on these funds are fully insured, without any limitation on the amount.

    • There are no mandatory contributions – replenishment is optional.

    • Payments are not taxed if the contract was in effect for at least 5 years, the participant had no more than 3 contracts at the same time, the amount of payments exceeds the amount of contributions by no more than 30 million ₽ for each contract in each tax period.

    • Low risk level.

    • Legal protection from claims of third parties.

    • Possibility to appoint a successor.

    • A minimum guaranteed return is established for the first 3 years of the contract.

    • Possibility of transferring pension savings under the OPS to the PDS.

    Who is eligible for the program?

    The program is available for all ages: from youth to seniors, from 18 to 69 years old.

    What purposes is the program suitable for?

    • Creating capital for future large purchases or a financial cushion.

    • Increase your existing capital with minimal risks.

    • Investing with minimal risks.

    • Protection of savings with minimal risks.

    • Ensuring financial stability now or in the future.

    How does the program work?

    – You need to make a down payment of 30,000₽.

    – You can top up your account at any time with an amount from 1000₽.

    – You receive state co-financing – 36,000₽/year.

    – Apply for and receive additional tax benefits.

    – Choose a payment format that is convenient for you – one-time or regular.

    For the convenience of clients, online services have been developed that allow you to track the status of your account in the PDS, top it up without a commission via the SBP, and receive the necessary package for processing a tax deduction.

    For detailed consultation and registration, please contact Solid Bank offices.

    Registration of PDS is available throughout the Bank’s network in: Almetyevsk, Blagoveshchensk, Vladivostok, Yekaterinburg, Elizovo, Izhevsk, Irkutsk, Kazan, Krasnoyarsk, Moscow, Novosibirsk, Petropavlovsk-Kamchatsky, St. Petersburg, Tula, Ufa, Khabarovsk, Yakutsk.

     

    JSC Solid Bank. General license of the Central Bank of the Russian Federation No. 1329.

    VBV. SOLIDBANK.ru

    8 800 775 56 06 (free call within Russia)

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: The Faculty of Information Technology of NSU has graduated the first master’s students of two new programs

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    Yesterday, the first Master’s students graduated from two new programs Faculty of Information Technology NSU, launched in 2023, are “Internet of Things” and “Artificial Intelligence and Data Science”. The programs are distinguished by their interdisciplinary nature and in-depth training, which allows solving a wide range of problems in in-demand IT areas.

    The Internet of Things (IoT) is a network of physical objects that can be connected using various technologies and sensors to collect and analyze data. This data can be used to optimize processes, improve quality of life, and manage resources. The development of IoT opens up new opportunities for business, industry, transportation, healthcare, and many other areas. However, to realize all these opportunities and benefits, a qualified team of specialists is needed who have deep knowledge in a wide range of areas, from programming and data analytics to communications technology and security, and also understand the operation of the sensors themselves and the subject area in which they are used.

    — IoT is one of the trends in the development of modern IT. When preparing to create and design solutions for the Internet of Things, a master’s student must demonstrate a whole range of knowledge. Firstly, it is necessary to learn how to work in conditions of limited computing performance and electricity, since Internet of Things devices must provide a long battery life. Secondly, in order for your system to work, a computer is not enough, you must ensure the transfer of this data. Thirdly, where we deal with data, the task arises to ensure its safety and protection. I will give an example from the healthcare sector. We all know smart watches that measure the pulse, count the number of steps, etc. In order for them to perform tasks, for example, monitoring the health of the elderly, it is necessary to implement more complex Internet of Things tools. The question arises: since this is personal, medical data, it is necessary to provide for its correct protection. Thus, in order to work in the IoT field, you need to be able to solve a whole range of problems and be an expert in different sections of modern information technology. Within the framework of the new direction, we are training exactly such specialists, — the dean of the NSU FIT, Corresponding Member, spoke about the features of the program. RAS Mikhail Lavrentiev.

    The new program is also distinguished by the fact that during their studies, master’s students participate in the implementation of projects that are carried out on order or in cooperation with businesses working in the IoT area. Thus, the university’s partner in organizing the new master’s program was the company “Laboratory of the Internet of Things”, which develops ground equipment for satellite systems, as well as the company YADRO.

    Denis Enes, a graduate of the Master’s program “Internet of Things” at the NSU Institute of Information Technologies, shares his impressions of the training:

    – I graduated from the NSU FIT Bachelor’s degree program in Computer Science and Systems Engineering. At the same time, a new program appeared in the FIT Master’s program – Internet of Things. I wanted to study something new, so I applied. The workload was heavy, especially in the first year, so it was difficult to combine study and work. However, it was worth the effort: as a result, I acquired knowledge that was different from what I received in my Bachelor’s degree, so now I have more opportunities for further career development.

    In the second program, “Artificial Intelligence and Data Science,” students received the necessary knowledge to work with artificial intelligence. They learned to develop intelligent solutions by participating in real company projects, as well as to apply AI and Data Science technologies in information and analytical activities for a wide range of areas of the digital economy.

    — We have developed a program that allows our master’s students to understand what artificial intelligence is, what needs to be done to make its systems work, how to construct a database, how to estimate the size of the required hardware base that will support the system. So, now AI is increasingly penetrating into people’s everyday lives — these are solutions for automatic face recognition when entering an office or an entrance, recognizing car numbers to open a barrier, garage, etc. Such systems require a minimal hardware base. We are preparing students for the fact that it is necessary not only to build an artificial intelligence system, but to understand what is sufficient to solve a specific range of problems, — explained Mikhail Lavrentyev.

    The new educational program is actively supported by partners, including Postgres Professional, YADRO, institutes of the Siberian Branch of the Russian Academy of Sciences, and other companies.

    Graduates of the Artificial Intelligence and Data Science program talk about their learning experiences and future plans.

    Ilya Stetsky:

    — Studying on the program was very interesting and useful. If before admission I thought that neural networks were something narrow, then during the master’s program this area was presented more broadly, from different sides, I discovered different areas of AI application. In general, the training was comprehensive and deep. In the future, I plan to work in the field of real-time data stream processing.

    Chinese student Aisaiti Baishan:

    — I am very glad that I spent these two years in Akademgorodok! Before NSU, I studied at Chongqing University. I decided to enroll here because NSU is very famous in China, everyone knows that it has a high level of education, including in mathematics and IT, and professional teachers. I plan to return home to China and continue my postgraduate studies. I received my diploma and now I want to thank everyone for these two years at the university!

    Material prepared by: Varvara Frolkina, NSU press service

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

    .

    MIL OSI Russia News –

  • MIL-OSI Africa: Ghana Deposit Protection Corporation Board Inaugurated

    Source: APO


    .

    Deputy Minister for Finance, Hon. Thomas Ampem Nyarko has inaugurated the Board of the Ghana Deposit Protection Corporation (GDPC)

    During the inauguration he stated that one of the critical roles of the GDPC was to safeguard the deposits of ordinary Ghanaians and strengthen public confidence in the financial system.

    The Board is chaired by Governor of the C Bank of Ghana, Dr. Johnson Pandit Asiamah, Other members include Galahad Alex Andoh, Chief Executive Officer of the Ghana Deposit Protection Corporation; Mr. Prosper Ayinbilla Awuni, representing the Ministry of Finance; Benjamin Amenumey; and Paul Kwasi Agyemang.

    The Board Chairman expressed gratitude to His Excellency the President and the Finance Minister, Dr. Cassiel Ato Forson, for the confidence reposed in the team.

    He again gave assurance of the Board’s commitment to providing effective leadership and strengthening the deposit protection scheme.

    Dr. Asiamah further noted that the Board will ensure transparency, good governance, and the use of innovative tools to improve the Corporation’s operations.

    Additionally, he stated the the Board’s plans to explore the use of Artificial Intelligence (AI) and integrate Environmental, Social, and Governance (ESG) principles, among other strategies, to enhance how the Corporation serves the people.

    Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.

    MIL OSI Africa –