NewzIntel.com

Category: Economy

  • MIL-OSI: Diginex’s AI-Driven Enhancements Poised to Accelerate Customer Adoption and Drive Revenue Growth

    Source: GlobeNewswire (MIL-OSI)

    LONDON, June 30, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex” or the “Company”) (NASDAQ: DGNX), a leading provider of Sustainability RegTech solutions, today announced additional government funding support for its innovative AI-powered compliance solutions. Diginex’s AI-powered compliance solutions will continue to focus on helping companies comply with sustainability disclosure requirements set by the International Sustainability Standards Board (ISSB) and International Financial Reporting Standards (IFRS) and now with the enhanced scope of AI-powered compliance solutions will additionally offer features including multi-variant drafts, risk reduction through automation, future-proofing against new regulations as well as enhanced scalability for users of the Company’s ESG SaaS reporting product, diginexESG. Diginex’s expanded AI features will streamline ESG reporting processes, thereby empowering businesses and financial institutions to meet regulatory requirements efficiently while driving transparency in corporate social responsibility and climate action, and will be jointly developed with a leading financial institution through a co-creation collaboration model promoting commercialisation and wider adoption.

    The upgraded AI functionality of Diginex’s AI-powered compliance solutions is expected to further accelerate customer adoption, and thereby, contribute to Diginex’s revenue growth in 2025 and beyond. Industry research from Verdantix forecasts that the global market spend on ESG reporting software will grow from over $1.3 billion in 2023 to over $5.6 billion in 2029, at a CAGR of 26%. Diginex is well-positioned to capture this opportunity, combining its award-winning platform with blockchain, machine learning, and data analytics to deliver unparalleled value to clients worldwide.

    This latest recognition from the Hong Kong Monetary Authority (“HKMA”), which provides development stage funding support for innovative fintech projects, builds on the Company’s earlier selection in February 2025 by the Financial Services and the Treasury Bureau of Hong Kong (“FSTB”) for the Green and Sustainable Fintech PoC program, as well as Diginex’s 2023 HKMA award in the “Sustainability or Climate-related Disclosure and Reporting” category.

    “We are honored to receive this further recognition from the HKMA, which underscores our commitment to revolutionizing ESG reporting through AI-driven innovation,” said Mark Blick, CEO of Diginex Limited. “Our enhanced diginexESG platform is designed to meet the growing global demand for sustainable finance solutions, and this acknowledgment from a leading regulatory authority validates our mission to democratize sustainability compliance.”

    This latest recognition follows Diginex’s recently disclosed signing of a Memorandum of Understanding on June 5, 2025, for Diginex’s strategic acquisition of Resulticks Global Companies Pte. Limited, a global leader in AI-driven customer engagement and data management solutions, for $2 billion. This acquisition aims to enhance Diginex’s AI and data management capabilities, enabling hyper-personalized, real-time sustainability solutions across compliance, supply chain intelligence, and risk analytics. Additionally, Diginex has recently entered into strategic alliances with firms like Forvis Mazars, Russell Bedford International, and Baker Tilly Singapore to expand the distribution of its diginexESG and diginexLUMEN platforms.

    About Diginex

    Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

    The award-winning diginexESG platform supports 17 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

    For more information, please visit the Company’s website:

    https://www.diginex.com/.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the SEC.

    Diginex
    Investor Relations
    Email: ir@diginex.com 

    IR Contact – Europe
    Anna Höffken
    Phone: +49.40.609186.0
    Email: diginex@kirchhoff.de 

    IR Contact – US
    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global 

    IR Contact – Asia
    Shelly Cheng
    Strategic Financial Relations Ltd.
    Phone: +852 2864 4857
    Email: sprg_diginex@sprg.com.hk 

    The MIL Network –

  • MIL-OSI NGOs: Greenpeace activists cover Setas de Sevilla to call for climate action

    Source: Greenpeace Statement –

    Sevilla, Spain – BREAKING: Activists from Greenpeace Spain today covered the iconic Setas de Sevilla monument with a massive banner, displaying the message: “They are destroying the planet. And you are paying for it.” The action marked the first day of the 4th International Conference on Financing for Development Conference (FfD4).

    Eva Saldaña, Executive Director of Greenpeace Spain and Portugal, said “Global activism is the essence of our democracy and climate justice. If we want to build a green and fair world, the people have to unite against the takeover by billionaires and polluters, and call for a redistribution of wealth and power in the multilateral arena and international financial institutions. Global justice must prevail over greed!”

    ENDS

    Yesterday’s release: Giant baby Musk float in march for tax justice at UN summit in Sevilla: ‘Make rich polluters pay’

    Members of the Greenpeace delegation in Seville are available for interviews in Spanish, English, German, and Swahili.

    Photos and Videos can be downloaded via Greenpeace Media Library and will be updated throughout the conference. 

    Contacts in Seville:

    Tal Harris, Global Media Lead – Stop Drilling Start Paying campaign, Greenpeace International. +41-782530550, [email protected]  

    Begoña Rodríguez, Media Lead – Climate Responsibility Team, Greenpeace Spain & Portugal. +34 605248097, [email protected]

    Additional contacts: 

    Christine Gebeneter, EU Communication lead, Greenpeace CEE based in Austria, +43 664 8403807, [email protected] 

    Lee Kuen, Global Comms Lead – Fair Share campaign, Greenpeace International. +601112527489, [email protected]

    Greenpeace International Press Desk, +31 (0)20 718 2470 (available 24 hours), [email protected]

    MIL OSI NGO –

  • Sensex, Nifty snap four-day winning streak amid profit booking

    Source: Government of India

    Source: Government of India (4)

    After four consecutive sessions of gains, benchmark equity indices ended lower on Monday as investors chose to book profits in the absence of strong domestic cues.

    The BSE Sensex declined by 452 points, or 0.54 per cent, to settle at 83,606.46. The index oscillated between an intra-day high of 84,099.53 and a low of 83,482.13. The NSE Nifty also lost ground, shedding 120.75 points, or 0.47 per cent, to close at 25,517.05, after moving within a narrow range through the session.

    Despite the subdued performance of the headline indices, the broader market continued to display resilience. The Nifty Midcap100 rose by 0.6 per cent, while the Nifty Smallcap100 added 0.52 per cent, suggesting sustained investor interest in mid- and small-cap stocks.

    Among the Sensex constituents, Axis Bank, Kotak Mahindra Bank, Maruti Suzuki, Bajaj Finance, Reliance Industries, Tata Steel and Bharti Airtel were among the major laggards. On the other hand, Trent, State Bank of India, Bharat Electronics, Titan, Bajaj Finserv and Eicher Motors recorded notable gains.

    Sectorally, performance was mixed. PSU banks outperformed, with the Nifty PSU Bank index jumping 2.66 per cent. Shares of Maharashtra Bank, Punjab National Bank, Bank of Baroda, Union Bank of India, Canara Bank, UCO Bank, Indian Bank and Punjab & Sind Bank advanced sharply during the session.

    Other sectors including IT, consumer durables, pharma, healthcare, media and energy indices ended in positive territory. However, indices tracking automobiles, banking, financial services, FMCG, metals, realty, private banks and oil & gas sectors closed in the red.

    Vinod Nair, Head of Research at Geojit Financial Services, observed that while global cues have turned marginally positive on hopes of easing geopolitical tensions and progress in a potential US trade agreement, the domestic market paused to consolidate recent gains.

    “Investors are now looking ahead to the upcoming corporate earnings season, with mid- and small-cap segments showing strength in anticipation of improved results supported by healthy consumer demand and better margins,” he said.

    The India VIX, which measures market volatility, rose by 3.2 per cent to 12.78, indicating a slight uptick in investor caution.

    Meanwhile, the rupee weakened by 0.21 per cent to trade near 85.70 against the US dollar, as profit booking and long unwinding weighed on the currency following recent gains.

    “The rupee came under pressure ahead of a crucial week marked by key US data releases and the expiry of the 90-day extended tariff deadline. The domestic unit is expected to remain volatile in the 85.35–86.00 range,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

    -IANS

  • Sensex, Nifty snap four-day winning streak amid profit booking

    Source: Government of India

    Source: Government of India (4)

    After four consecutive sessions of gains, benchmark equity indices ended lower on Monday as investors chose to book profits in the absence of strong domestic cues.

    The BSE Sensex declined by 452 points, or 0.54 per cent, to settle at 83,606.46. The index oscillated between an intra-day high of 84,099.53 and a low of 83,482.13. The NSE Nifty also lost ground, shedding 120.75 points, or 0.47 per cent, to close at 25,517.05, after moving within a narrow range through the session.

    Despite the subdued performance of the headline indices, the broader market continued to display resilience. The Nifty Midcap100 rose by 0.6 per cent, while the Nifty Smallcap100 added 0.52 per cent, suggesting sustained investor interest in mid- and small-cap stocks.

    Among the Sensex constituents, Axis Bank, Kotak Mahindra Bank, Maruti Suzuki, Bajaj Finance, Reliance Industries, Tata Steel and Bharti Airtel were among the major laggards. On the other hand, Trent, State Bank of India, Bharat Electronics, Titan, Bajaj Finserv and Eicher Motors recorded notable gains.

    Sectorally, performance was mixed. PSU banks outperformed, with the Nifty PSU Bank index jumping 2.66 per cent. Shares of Maharashtra Bank, Punjab National Bank, Bank of Baroda, Union Bank of India, Canara Bank, UCO Bank, Indian Bank and Punjab & Sind Bank advanced sharply during the session.

    Other sectors including IT, consumer durables, pharma, healthcare, media and energy indices ended in positive territory. However, indices tracking automobiles, banking, financial services, FMCG, metals, realty, private banks and oil & gas sectors closed in the red.

    Vinod Nair, Head of Research at Geojit Financial Services, observed that while global cues have turned marginally positive on hopes of easing geopolitical tensions and progress in a potential US trade agreement, the domestic market paused to consolidate recent gains.

    “Investors are now looking ahead to the upcoming corporate earnings season, with mid- and small-cap segments showing strength in anticipation of improved results supported by healthy consumer demand and better margins,” he said.

    The India VIX, which measures market volatility, rose by 3.2 per cent to 12.78, indicating a slight uptick in investor caution.

    Meanwhile, the rupee weakened by 0.21 per cent to trade near 85.70 against the US dollar, as profit booking and long unwinding weighed on the currency following recent gains.

    “The rupee came under pressure ahead of a crucial week marked by key US data releases and the expiry of the 90-day extended tariff deadline. The domestic unit is expected to remain volatile in the 85.35–86.00 range,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

    -IANS

  • Wildfires burn in Turkey and France as early heatwave hits

    Source: Government of India

    Source: Government of India (4)

    Firefighters battled wildfires in Turkey and France on Monday as an early heatwave hit the region.

    In Turkey, the wildfires raged for a second day in the western province of Izmir, fanned by strong winds, Forestry Minister Ibrahim Yumakli said, forcing the evacuation of four villages and two neighbourhoods.

    Media footage showed teams using tractors with water trailers and helicopters carrying water, as smoke billowed over hills marked with charred trees.

    Turkey’s coastal regions have in recent years been ravaged by wildfires, as summers have become hotter and drier, which scientists say is a result of human-induced climate change.

    In France, where temperatures are expected to peak on Tuesday and Wednesday, wildfires broke out on Sunday in the southwestern Aude department, where temperatures topped 40 degrees Celsius (104 degrees Fahrenheit), burning 400 hectares and forcing the evacuation of a campsite and an abbey, authorities and local media said.

    The fires were under control but not yet extinguished, authorities said on Monday.

    Weather service Meteo France put a record 84 of the country’s 101 departments on an orange heatwave alert from Monday until midweek. About 200 schools will be at least partially shut over the next three days because of the heat, the Education Ministry said.

    HEATWAVE IMPACTS RHINE SHIPPING

    The heatwave has lowered water levels on Germany’s Rhine River, hampering shipping and raising freight costs for cargo owners, commodity traders said.

    The Rhine is an important shipping route for commodities such as grains, minerals and oil products. Forecasters said temperatures as high as 40 C are possible in Cologne.

    In Seville, southern Spain, where global leaders were gathering for a United Nations conference, temperatures were expected to hit 42 C.

    Tourists were trying to deal with the heat. “Really hard currently,” Mehrzad Joussefi, from the Netherlands, said.

    Spain is on course for its hottest June on record, the national meteorological service AEMET said.

    Most of the country remains under alert for heat, with AEMET forecasting the peak of the heatwave on Monday.

    “Over the next few days, at least until Thursday, intense heat will continue in much of Spain,” said Ruben del Campo, a spokesperson for the weather agency.

    Italy’s Health Ministry issued heatwave red alerts for 21 cities, including Rome and Milan. Weather forecast website IlMeteo.it said temperatures on Monday would go as high as 41 C in Florence, 38 C in Bologna and 37 C in Perugia.

    The Lombardy region, part of Italy’s northern industrial heartland, is planning to ban open-air work in the hottest times of the day, heeding a request from trade unions, its president said on Monday.

    Heat can affect health in various ways, and experts are most concerned about older people and babies, as well as outdoor labourers and people struggling economically.

    Globally, extreme heat kills up to 480,000 people annually, surpassing the combined toll from floods, earthquakes and hurricanes, and poses growing risks to infrastructure, the economy and healthcare systems, Swiss Re said earlier this month.

    Global surface temperatures last month averaged 1.4 C higher than in the 1850-1900 pre-industrial period, when humans began burning fossil fuels on an industrial scale, the EU’s Copernicus Climate Change Service (C3S) said earlier this month.

    Scientists say the main cause of climate change is greenhouse gas emissions from burning fossil fuels. Last year was the planet’s hottest on record.

    (Reuters)

  • Wildfires burn in Turkey and France as early heatwave hits

    Source: Government of India

    Source: Government of India (4)

    Firefighters battled wildfires in Turkey and France on Monday as an early heatwave hit the region.

    In Turkey, the wildfires raged for a second day in the western province of Izmir, fanned by strong winds, Forestry Minister Ibrahim Yumakli said, forcing the evacuation of four villages and two neighbourhoods.

    Media footage showed teams using tractors with water trailers and helicopters carrying water, as smoke billowed over hills marked with charred trees.

    Turkey’s coastal regions have in recent years been ravaged by wildfires, as summers have become hotter and drier, which scientists say is a result of human-induced climate change.

    In France, where temperatures are expected to peak on Tuesday and Wednesday, wildfires broke out on Sunday in the southwestern Aude department, where temperatures topped 40 degrees Celsius (104 degrees Fahrenheit), burning 400 hectares and forcing the evacuation of a campsite and an abbey, authorities and local media said.

    The fires were under control but not yet extinguished, authorities said on Monday.

    Weather service Meteo France put a record 84 of the country’s 101 departments on an orange heatwave alert from Monday until midweek. About 200 schools will be at least partially shut over the next three days because of the heat, the Education Ministry said.

    HEATWAVE IMPACTS RHINE SHIPPING

    The heatwave has lowered water levels on Germany’s Rhine River, hampering shipping and raising freight costs for cargo owners, commodity traders said.

    The Rhine is an important shipping route for commodities such as grains, minerals and oil products. Forecasters said temperatures as high as 40 C are possible in Cologne.

    In Seville, southern Spain, where global leaders were gathering for a United Nations conference, temperatures were expected to hit 42 C.

    Tourists were trying to deal with the heat. “Really hard currently,” Mehrzad Joussefi, from the Netherlands, said.

    Spain is on course for its hottest June on record, the national meteorological service AEMET said.

    Most of the country remains under alert for heat, with AEMET forecasting the peak of the heatwave on Monday.

    “Over the next few days, at least until Thursday, intense heat will continue in much of Spain,” said Ruben del Campo, a spokesperson for the weather agency.

    Italy’s Health Ministry issued heatwave red alerts for 21 cities, including Rome and Milan. Weather forecast website IlMeteo.it said temperatures on Monday would go as high as 41 C in Florence, 38 C in Bologna and 37 C in Perugia.

    The Lombardy region, part of Italy’s northern industrial heartland, is planning to ban open-air work in the hottest times of the day, heeding a request from trade unions, its president said on Monday.

    Heat can affect health in various ways, and experts are most concerned about older people and babies, as well as outdoor labourers and people struggling economically.

    Globally, extreme heat kills up to 480,000 people annually, surpassing the combined toll from floods, earthquakes and hurricanes, and poses growing risks to infrastructure, the economy and healthcare systems, Swiss Re said earlier this month.

    Global surface temperatures last month averaged 1.4 C higher than in the 1850-1900 pre-industrial period, when humans began burning fossil fuels on an industrial scale, the EU’s Copernicus Climate Change Service (C3S) said earlier this month.

    Scientists say the main cause of climate change is greenhouse gas emissions from burning fossil fuels. Last year was the planet’s hottest on record.

    (Reuters)

  • MIL-OSI United Kingdom: UK Introduces New Trade Measures to Support Steel Sector

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK Introduces New Trade Measures to Support Steel Sector

    UK strengthens steel safeguard measures

    • UK steel producers to benefit from stronger trade safeguards that better protect against surges in cheap imports.  

    • These changes will adjust how much steel countries around the world can send to the UK, protecting British jobs while making sure the UK still has a reliable supply.   

    • Reinforces the Government’s commitment as part of the Plan for Change to rebuild Britain’s industrial strength and reversing decades of decline.  

    Steel producers across the UK will benefit from stronger trade measures from 1 July, as the government moves to better protect domestic industry from unforeseen surges in foreign imports as part of the Plan for Change.   

    Following a recommendation from the Trade Remedies Authority (TRA), the Business Secretary has confirmed the final decision on the current steel safeguard, taking decisive action in the national interest to strengthen existing protections against spikes in foreign imports- delivering on the Government’s commitment to rebuild Britain’s industrial strength.

    The changes to the steel safeguard will make the measure more effective by slowing future increases, capping certain import levels and tightening country-specific limits- ensuring UK steel producers won’t be undercut while still making sure the UK has a steady and reliable supply. 

    They will also strike the right balance between maintaining open trade and ensuring long-term viability for the UK’s steel sector which remains critical to the economy and to communities across the country.

    This decision builds on the Trade Strategy published last week, which set out how the UK Government will strengthen its trade defences to protect key industries like steel, ensuring a fairer and more secure trading environment.

    Business and Trade Secretary Jonathan Reynolds said:   

    This Government is unapologetic in our support for the UK steel sector-it underpins Britain’s industrial strength, our national security, and our status as a global power.   

    These measures back our producers and the thousands of families and communities who rely on steel production in the UK.   

    We’ve taken decisive action to protect the UK market and level the playing field, and we’ll go further with our new Steel Strategy to build a stronger, more competitive future for British steel making central to our Plan for Change.

    Today’s announcement delivers immediate protection and builds on the Industrial and Trade Strategies announced last week, reinforcing the government’s commitment to protecting jobs and securing the long-term success of domestic industry.   

    This decision sits alongside a call for stakeholder views to shape the UK’s future trade approach to steel after June 2026. Yet another example of the UK’s commitment to strengthened trade defences.   

    Notes to editors:  

    • The steel safeguard Tariff Rate Quota (TRQ) review assessed whether the UK should make changes to its steel safeguard measure to ensure more effective protection for producers from unforeseen import surges whilst balancing security of supply. 

    • The Business and Trade Secretary’s decision on the Steel Safeguard TRQ  was informed by stakeholder engagement, legal analysis, and broader strategic considerations.  

    • The UK steel industry employs thousands of people in key manufacturing regions and supports critical supply chains in construction, automotive, and defence.  

    • The UK Government is committed to taking effective action to support a level playing field for domestic industry and will publish a comprehensive Steel Strategy later this year.  

    • The current UK steel safeguard measure ends in June 2026 and cannot be extended. The Call for Evidence launched on 26 June invites industry views to help shape new, future-ready trade measures that will protect UK businesses and jobs nationwide.  

    • A letter outlining the government’s intended decision was issued to the TRA on 24 June to enable WTO engagement.

    Updates to this page

    Published 30 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: UNDRR ONEA and GETI Newsletter 46: Apr-Jun 2025

    Source: UNISDR Disaster Risk Reduction

    In the second quarter of 2025, UNDRR ONEA & GETI and its partners have recently led a series of capacity-building initiatives to strengthen disaster risk reduction (DRR), urban resilience, and climate adaptation across regions. Highlights include Korea’s contributions were showcased at the 8th GP2025, including school safety training and smart city operations for Incheon educators, technical workshops in Togo on DRR tools and early warning systems, innovative masterclasses on resilient housing and infrastructure, and training programs for urban and private sector resilience. Collaborative events such as the UNDRR–WCCD workshops in Vaughan and Ajman emphasized data-driven resilience, while webinars with CCFLA and MCR2030 explored climate finance and project implementation. Other notable efforts included advancing disability inclusion in DRR, an online workshop on risk-informed governance and climate finance co-hosted with UNPOG and UNITAR, and a partnership with Brihanmumbai Municipal Corporation and KPMG India to bolster urban resilience in Mumbai.

    Download

    Links last checked: 30 June 2025

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Building Financial Resilience: Arab States Participate in DRR Financing Training

    Source: UNISDR Disaster Risk Reduction

    As part of its continued commitment to strengthening disaster resilience in the Arab region, the United Nations Office for Disaster Risk Reduction Regional Office for Arab States (UNDRR ROAS) hosted a half-day online training on financing disaster risk reduction (DRR), gathering national DRR focal points, government officials, and technical experts from across the region.

    The training aimed to enhance capacity in assessing disaster costs, resilience benefits, and investment needs, while building awareness on how to mobilize financing for DRR and climate adaptation through public, private, and international sources.

    Strengthening Capacity to Finance Resilience

    Opening the session, Ms. Nora Achkar, Chief of UNDRR ROAS, emphasized the importance of integrating DRR into economic planning and investment decisions. “Investing in disaster risk reduction is not just a moral obligation – it is a smart financial decision that safeguards development gains and builds resilience against future shocks,” Ms. Achkar stated.

    The training built on UNDRR’s innovative five-step approach to DRR financing, which is being rolled out globally to help countries:

    • Understand the financial consequences of disasters
    • Track climate adaptation and DRR financing flows
    • Identify investment needs
    • Match needs with financing options
    • Develop a DRR financing strategy

    Expert Insights and Regional Perspectives

    Participants benefited from a rich agenda featuring expert-led modules on understanding the financial consequences of disasters, tracking financing flows, assessing financial landscapes, identifying investment needs, and developing DRR financing strategies. The training also included insights on linking DRR financing to global processes such as G20 outcomes and international financing for development frameworks, as well as regional case studies showcasing innovative funding mechanisms to build national resilience.

    Mohammed Jarefa, Head of Planning and Cooperation at Morocco’s Ministry of Interior, presented Morocco’s journey in DRR financing, highlighting innovative funding mechanisms to build national resilience.

    The Urgency of Financing DRR

    The training contextualized DRR financing within rising global disaster costs, with 2023 disaster losses estimated at over $250 billion, surpassing total official development assistance for that year. Participants discussed how current financing only meets 10–25% of DRR and climate adaptation investment needs in most countries, underlining the urgency to shift from reactive post-disaster spending to proactive risk reduction investments.

    Key Outcomes and the Way Forward

    The training concluded with an engaging discussion on:

    • Barriers preventing increased DRR financing, including institutional challenges and limited policy incentives.
    • Opportunities to optimize existing resources, integrate DRR into economic policy, and engage the private sector and capital markets in financing resilience solutions.
    • The five-step approach in the national contexts and strengthening collaboration with UNDRR to bridge financing gaps for DRR and climate adaptation, ensuring a safer and more resilient Arab region.

    Key Takeaways:

    • Over 50 participants from Arab states enhanced their understanding of DRR financing strategies.
    • The training built capacity to assess disaster costs and mobilize resources for resilience investments.
    • Regional case studies, including Morocco’s financing journey, provided practical insights for implementation.

    UNDRR ROAS will continue to support Arab states in developing integrated national financing frameworks that prioritize DRR, climate adaptation, and resilient infrastructure to protect lives and development gains in an era of increasing risk.

    MIL OSI United Nations News –

  • MIL-OSI Economics: RBI releases the Financial Stability Report, June 2025

    Source: Reserve Bank of India

    Today, the Reserve Bank released the June 2025 issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the resilience of the Indian financial system and risks to financial stability.

    Highlights:

    • Elevated economic and trade policy uncertainties are testing the resilience of the global economy and the financial system.

    • Financial markets remain volatile, especially core government bond markets, driven by shifting policy and geopolitical environment. Alongside, existing vulnerabilities such as soaring public debt levels and elevated asset valuations have the potential to amplify fresh shocks.

    • Despite an uncertain and challenging global economic backdrop, the Indian economy remains a key driver of global growth, underpinned by sound macroeconomic fundamentals and prudent macroeconomic policies.

    • The domestic financial system is exhibiting resilience fortified by healthy balance sheets of banks and non-banks. Financial conditions have eased supported by accommodative monetary policy and low volatility in financial markets. The strength of the corporate balance sheets also lends support to overall macroeconomic stability.

    • The soundness and resilience of scheduled commercial banks (SCBs) are bolstered by robust capital buffers, multi-decadal low non-performing loans ratio and strong earnings.

    • Results of macro stress tests affirm that most SCBs have adequate capital buffers relative to the regulatory minimum even under adverse stress scenarios. Stress tests also validate the resilience of mutual funds and clearing corporations.

    • Non-banking financial companies (NBFCs) remain healthy with sizable capital buffers, robust earnings and improving asset quality.

    • The consolidated solvency ratio of the insurance sector also remains above the minimum threshold limit.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/624

    MIL OSI Economics –

  • MIL-OSI Economics: W&T Announces Positive Court Finding Regarding Remaining Surety Provider Claims

    Source: W & T Offshore Inc

    Headline: W&T Announces Positive Court Finding Regarding Remaining Surety Provider Claims

    HOUSTON, June 30, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced that U.S. Magistrate Judge Dena Palermo recommended denying two surety companies motions for preliminary injunction, through which they collectively asked for full monetization of over $100 million dollars. The Court found, in relevant part, the sureties failed to demonstrate they would suffer irreparable harm if their cash collateral demands were not granted.

    Key highlights relating to the ruling include:

    • Sureties’ motion for preliminary injunction, which would have required W&T to immediately post collateral, was categorically recommended to be denied;
    • Sureties failed to carry a clear burden of proof to establish irreparable harm necessary to obtain a preliminary injunction;
    • Ruling results in all current collateral requests by sureties being effectively nullified;
    • The Company will not be required to post collateral (if at all) until a determination on the merits of the pending lawsuit with the remaining surety providers;
    • The previously-announced settlement agreement, together with this favorable Court ruling, represent significant positive outcomes for W&T.

    Tracy W. Krohn, W&T’s Chairman and Chief Executive Officer stated, “We are very pleased with the Magistrate Judge’s recommendation that the Sureties’ preliminary injunction motions be denied. This vindicates W&T’s decision to aggressively defend against unlawful predatory business practices. W&T looks forward to a day when independent operators can once again operate in the Gulf of America unhampered by collusion and unlawful pressures exerted by sureties’ unfettered market power. We could not be more pleased with the Court’s decision preventing unnecessary and unjustified collateral demands by abusive surety providers.”  

    Mr. Krohn added, “surety providers have, for far too long, abused the ability to demand collateral. The Magistrate Judge’s recommendation, assuming it is upheld by the District Court, helps put an end to these blackmail business practices. Never again should any oil and gas producer have to cave to unjustified collateral demands. It admittedly takes courage and calculated risk to resist collective ultimatums from surety providers, but we hope the Court’s decision inspires others to follow suit in standing up to bullying tactics. The sureties’ collusive behavior has caused W&T’s (and other independent operators’) stockholders incalculable harm and it is about time that sureties are held accountable.”

    W&T Offshore’s legal team is led by its General Counsel, George J. Hittner, as well as Deputy General Counsels, Steven Lackey and Ted Imperato. W&T’s trial team is led by Yasser A. Madriz, the Managing Partner of the Houston Office of McGuireWoods, LLP along with members of the firm’s Commercial Litigation Section, Jason Huebinger, Megan Lewis, and Miles Indest.

    About W&T Offshore

    W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America and has grown through acquisitions, exploration and development. As of March 31, 2025, the Company had working interests in 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 634,700 gross acres (496,900 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 487,200 gross acres on the conventional shelf, approximately 141,900 gross acres in the deepwater and 5,600 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.

    Forward-Looking and Cautionary Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this release, including those regarding the potential outcome of the litigation, the impact of the litigation on the Company or the industry more broadly, and the Company’s future operations are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes, although not all forward-looking statements contain such identifying words. Items contemplating or making assumptions about actual or potential future production and sales, prices, market size, and trends or operating results also constitute such forward-looking statements.

    These forward-looking statements are based on the Company’s current expectations and assumptions about future events and speak only as of the date of this release. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, as results actually achieved may differ materially from expected results described in these statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, unless required by law.

    Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ including, among other things, the regulatory environment, including availability or timing of, and conditions imposed on, obtaining and/or maintaining permits and approvals, including those necessary for drilling and/or development projects; the impact of current, pending and/or future laws and regulations, and of legislative and regulatory changes and other government activities, including those related to permitting, drilling, completion, well stimulation, operation, maintenance or abandonment of wells or facilities, managing energy, water, land, greenhouse gases or other emissions, protection of health, safety and the environment, or transportation, marketing and sale of the Company’s products; inflation levels; global economic trends, geopolitical risks and general economic and industry conditions, such as the global supply chain disruptions and the government interventions into the financial markets and economy in response to inflation levels and world health events; volatility of oil, NGL and natural gas prices; the global energy future, including the factors and trends that are expected to shape it, such as concerns about climate change and other air quality issues, the transition to a low-emission economy and the expected role of different energy sources; supply of and demand for oil, NGLs and natural gas, including due to the actions of foreign producers, importantly including OPEC and other major oil producing companies (“OPEC+”) and change in OPEC+’s production levels; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver the Company’s oil and natural gas and other processing and transportation considerations; inability to generate sufficient cash flow from operations or to obtain adequate financing to fund capital expenditures, meet the Company’s working capital requirements or fund planned investments; price fluctuations and availability of natural gas and electricity; the Company’s ability to use derivative instruments to manage commodity price risk; the Company’s ability to meet the Company’s planned drilling schedule, including due to the Company’s ability to obtain permits on a timely basis or at all, and to successfully drill wells that produce oil and natural gas in commercially viable quantities; uncertainties associated with estimating proved reserves and related future cash flows; the Company’s ability to replace the Company’s reserves through exploration and development activities; drilling and production results, lower–than–expected production, reserves or resources from development projects or higher–than–expected decline rates; the Company’s ability to obtain timely and available drilling and completion equipment and crew availability and access to necessary resources for drilling, completing and operating wells; changes in tax laws; effects of competition; uncertainties and liabilities associated with acquired and divested assets; the Company’s ability to make acquisitions and successfully integrate any acquired businesses; asset impairments from commodity price declines; large or multiple customer defaults on contractual obligations, including defaults resulting from actual or potential insolvencies; geographical concentration of the Company’s operations; the creditworthiness and performance of the Company’s counterparties with respect to its hedges; impact of derivatives legislation affecting the Company’s ability to hedge; failure of risk management and ineffectiveness of internal controls; catastrophic events, including tropical storms, hurricanes, earthquakes, pandemics and other world health events; environmental risks and liabilities under U.S. federal, state, tribal and local laws and regulations (including remedial actions); potential liability resulting from pending or future litigation; the Company’s ability to recruit and/or retain key members of the Company’s senior management and key technical employees; information technology failures or cyberattacks; and governmental actions and political conditions, as well as the actions by other third parties that are beyond the Company’s control, and other factors discussed in W&T Offshore’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q found at www.sec.gov or at the Company’s website at www.wtoffshore.com under the Investor Relations section.

         
    CONTACT: Al Petrie Sameer Parasnis
      Investor Relations Coordinator Executive VP and CFO
      investorrelations@wtoffshore.com sparasnis@wtoffshore.com
      713-297-8024 713-513-8654

    Source: W&T Offshore, Inc.

    Released June 30, 2025

    MIL OSI Economics –

  • MIL-OSI Economics: W&T Announces Positive Court Finding Regarding Remaining Surety Provider Claims

    Source: W & T Offshore Inc

    Headline: W&T Announces Positive Court Finding Regarding Remaining Surety Provider Claims

    HOUSTON, June 30, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced that U.S. Magistrate Judge Dena Palermo recommended denying two surety companies motions for preliminary injunction, through which they collectively asked for full monetization of over $100 million dollars. The Court found, in relevant part, the sureties failed to demonstrate they would suffer irreparable harm if their cash collateral demands were not granted.

    Key highlights relating to the ruling include:

    • Sureties’ motion for preliminary injunction, which would have required W&T to immediately post collateral, was categorically recommended to be denied;
    • Sureties failed to carry a clear burden of proof to establish irreparable harm necessary to obtain a preliminary injunction;
    • Ruling results in all current collateral requests by sureties being effectively nullified;
    • The Company will not be required to post collateral (if at all) until a determination on the merits of the pending lawsuit with the remaining surety providers;
    • The previously-announced settlement agreement, together with this favorable Court ruling, represent significant positive outcomes for W&T.

    Tracy W. Krohn, W&T’s Chairman and Chief Executive Officer stated, “We are very pleased with the Magistrate Judge’s recommendation that the Sureties’ preliminary injunction motions be denied. This vindicates W&T’s decision to aggressively defend against unlawful predatory business practices. W&T looks forward to a day when independent operators can once again operate in the Gulf of America unhampered by collusion and unlawful pressures exerted by sureties’ unfettered market power. We could not be more pleased with the Court’s decision preventing unnecessary and unjustified collateral demands by abusive surety providers.”  

    Mr. Krohn added, “surety providers have, for far too long, abused the ability to demand collateral. The Magistrate Judge’s recommendation, assuming it is upheld by the District Court, helps put an end to these blackmail business practices. Never again should any oil and gas producer have to cave to unjustified collateral demands. It admittedly takes courage and calculated risk to resist collective ultimatums from surety providers, but we hope the Court’s decision inspires others to follow suit in standing up to bullying tactics. The sureties’ collusive behavior has caused W&T’s (and other independent operators’) stockholders incalculable harm and it is about time that sureties are held accountable.”

    W&T Offshore’s legal team is led by its General Counsel, George J. Hittner, as well as Deputy General Counsels, Steven Lackey and Ted Imperato. W&T’s trial team is led by Yasser A. Madriz, the Managing Partner of the Houston Office of McGuireWoods, LLP along with members of the firm’s Commercial Litigation Section, Jason Huebinger, Megan Lewis, and Miles Indest.

    About W&T Offshore

    W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America and has grown through acquisitions, exploration and development. As of March 31, 2025, the Company had working interests in 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 634,700 gross acres (496,900 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 487,200 gross acres on the conventional shelf, approximately 141,900 gross acres in the deepwater and 5,600 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.

    Forward-Looking and Cautionary Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this release, including those regarding the potential outcome of the litigation, the impact of the litigation on the Company or the industry more broadly, and the Company’s future operations are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes, although not all forward-looking statements contain such identifying words. Items contemplating or making assumptions about actual or potential future production and sales, prices, market size, and trends or operating results also constitute such forward-looking statements.

    These forward-looking statements are based on the Company’s current expectations and assumptions about future events and speak only as of the date of this release. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, as results actually achieved may differ materially from expected results described in these statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, unless required by law.

    Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ including, among other things, the regulatory environment, including availability or timing of, and conditions imposed on, obtaining and/or maintaining permits and approvals, including those necessary for drilling and/or development projects; the impact of current, pending and/or future laws and regulations, and of legislative and regulatory changes and other government activities, including those related to permitting, drilling, completion, well stimulation, operation, maintenance or abandonment of wells or facilities, managing energy, water, land, greenhouse gases or other emissions, protection of health, safety and the environment, or transportation, marketing and sale of the Company’s products; inflation levels; global economic trends, geopolitical risks and general economic and industry conditions, such as the global supply chain disruptions and the government interventions into the financial markets and economy in response to inflation levels and world health events; volatility of oil, NGL and natural gas prices; the global energy future, including the factors and trends that are expected to shape it, such as concerns about climate change and other air quality issues, the transition to a low-emission economy and the expected role of different energy sources; supply of and demand for oil, NGLs and natural gas, including due to the actions of foreign producers, importantly including OPEC and other major oil producing companies (“OPEC+”) and change in OPEC+’s production levels; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver the Company’s oil and natural gas and other processing and transportation considerations; inability to generate sufficient cash flow from operations or to obtain adequate financing to fund capital expenditures, meet the Company’s working capital requirements or fund planned investments; price fluctuations and availability of natural gas and electricity; the Company’s ability to use derivative instruments to manage commodity price risk; the Company’s ability to meet the Company’s planned drilling schedule, including due to the Company’s ability to obtain permits on a timely basis or at all, and to successfully drill wells that produce oil and natural gas in commercially viable quantities; uncertainties associated with estimating proved reserves and related future cash flows; the Company’s ability to replace the Company’s reserves through exploration and development activities; drilling and production results, lower–than–expected production, reserves or resources from development projects or higher–than–expected decline rates; the Company’s ability to obtain timely and available drilling and completion equipment and crew availability and access to necessary resources for drilling, completing and operating wells; changes in tax laws; effects of competition; uncertainties and liabilities associated with acquired and divested assets; the Company’s ability to make acquisitions and successfully integrate any acquired businesses; asset impairments from commodity price declines; large or multiple customer defaults on contractual obligations, including defaults resulting from actual or potential insolvencies; geographical concentration of the Company’s operations; the creditworthiness and performance of the Company’s counterparties with respect to its hedges; impact of derivatives legislation affecting the Company’s ability to hedge; failure of risk management and ineffectiveness of internal controls; catastrophic events, including tropical storms, hurricanes, earthquakes, pandemics and other world health events; environmental risks and liabilities under U.S. federal, state, tribal and local laws and regulations (including remedial actions); potential liability resulting from pending or future litigation; the Company’s ability to recruit and/or retain key members of the Company’s senior management and key technical employees; information technology failures or cyberattacks; and governmental actions and political conditions, as well as the actions by other third parties that are beyond the Company’s control, and other factors discussed in W&T Offshore’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q found at www.sec.gov or at the Company’s website at www.wtoffshore.com under the Investor Relations section.

         
    CONTACT: Al Petrie Sameer Parasnis
      Investor Relations Coordinator Executive VP and CFO
      investorrelations@wtoffshore.com sparasnis@wtoffshore.com
      713-297-8024 713-513-8654

    Source: W&T Offshore, Inc.

    Released June 30, 2025

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Homeowners could save hundreds on energy bills from solar drive

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    Homeowners could save hundreds on energy bills from solar drive

    Homeowners could save around £500 from the government’s drive for solar power on rooftops.

    • Homeowners could save around £500 from the government’s rooftop revolution 
    • rooftop solar could help bring bills down for British families through the Plan for Change 
    • government launches ‘roadmap’ to maximise the potential of solar on warehouses, homes and car parks 

    Families and businesses could benefit from cheaper bills and greater energy security through plans to drastically increase the deployment of rooftop solar across the country.  

    The government has today (Monday 30 June) launched a pathway for the UK to rapidly accelerate the roll out of solar, helping drive down bills, supporting tens of thousands of jobs and powering economic growth with clean energy. 

    Families could save around £500 a year on their energy bills by installing rooftop solar panels as part of the government’s rooftop revolution – making working people better off through the Plan for Change.  

    The Solar Roadmap sets out the steps needed for the government and industry to deliver 45-47 GW of solar by 2030 – which will support up to 35,000 jobs and use less than half a percent of total UK land.  

    This includes:  

    • increasing solar deployment on new build homes through the Future Homes Standard to save households money on bills
    • launching a call for evidence to understand how to harness the untapped potential of solar in car parks across England, Wales and Northern Ireland  
    • plans to launch a safety review to unlock portable plug-in solar panels, making it easier and cheaper for people living in rented accommodation and apartments to install solar on their balconies and rooftops
    • stronger engagement with industry and trade bodies to identify skills gaps in the solar sector to support more people into well-paid clean energy jobs

    Research suggests 88% of the British public are in favour of solar energy. Since July, the government has taken action to deploy the technology at scale, approving nearly 3 GW of nationally significant solar – more than the last 14 years combined. This is the equivalent of powering more than 500,000 homes with clean, homegrown power. 

    Energy Minister Michael Shanks said: 

    Families have been paying the price for the fossil fuel rollercoaster for years. 

    Our Plan for Change means delivering more homegrown energy that we control to boost the UK’s energy security and save money on your bills. 

    Through solar, we are rolling out the quickest to build and one of the cheapest forms of energy for families to start saving hundreds on their energy bills, all whilst helping tackle the climate crisis.

    The roadmap outlines practical actions for industry and government to overcome the challenges to delivering this ambition within the next five years and boost the UK’s energy security. This includes providing a new blueprint for industry to overcome barriers in planning, electricity networks, supply chain and innovation and workforce and skills challenges. 

    There are already over 1.5 million homes in the UK with rooftop solar panels installed. According to MCS, the body responsible for certifying renewable energy installers, 15,496 solar installations took place in January 2025 on existing homes, a 16.5% increase on the previous year.

    To help households with the finances of installing rooftop solar, the government is working with the Green Finance Institute, the finance sector, consumer bodies and the solar sector itself to provide financial solutions for households and businesses.  

    The government has also made rooftop solar more accessible, having recently announced all new build homes will have solar panels by default to help bring down bills for families, through the Future Homes Standard. This will also see new homes benefit from low-carbon heating, such as heat pumps and high levels for energy efficiency.    
     
    This means recipients of new build homes will save money on their energy bills through government support, tackling the cost of living crisis for aspirational young families and new house buyers. 

    Rooftop solar not only adds value through lowering bills but it can also increase the financial value of the property. The government wants homeowners to cash in on this and is working with the Royal Institution of Chartered Surveyors to ensure that the value of solar homes is assessed properly. 

    Renters and those living in apartments could also be set to experience the benefits of solar as the government sets out the steps required to make ‘plug-in’ solar available in the UK. Plug-in solar works in the same way as rooftop solar panels, except it is portable and is connected directly into plug sockets – ideal for apartments with balconies. 

    Plug-in solar is currently unavailable in the UK due to longstanding regulations. But in Germany, around 435,000 balconies had plug-in solar installed in 2024 alone, saving residents in apartments money on their electricity bills.  

    Last month, Great British Energy announced an initial £200 million investment in rooftop solar for hundreds of schools and hospitals, with savings around £200,000 a month for some hospitals. 

    Solar Energy UK Chief Executive and Co-Chair of the Solar Taskforce, Chris Hewett said:  

    Today marks the dawn of a transformative era for how the UK powers itself.  

    The Solar Roadmap highlights dozens of practical measures needed to expand solar generation, boost the supply of cheaper and more secure power, foster new industries, create skilled jobs, boost biodiversity and slash our greenhouse gas emissions.  

    The sector is already growing fast, with around 700 small-scale rooftop installations being completed each day, but needs to grow faster. 

    Garry Felgate, Chief Executive of The MCS Foundation said: 

    The UK is experiencing a solar boom, with record numbers of subsidy-free solar panels being installed on rooftops across the country.    

    We welcome the Solar Roadmap which sets out the many ways in which we can maximise British potential for clean, cheap electricity.   

    Following on from the announcement that the vast majority of new homes will be required to have solar panels under the Future Homes Standard, the Solar Roadmap clearly demonstrates this government’s commitment to home-grown renewable power.

    Matthew Boulton, Director of Solar, Storage and Private Wire at EDF Renewables UK, and member of the Solar Taskforce said:  

    EDF Renewables UK is proud to have contributed to the UK government’s Solar Taskforce and welcomes the publication of the Roadmap.   

    We are at a pivotal moment for the solar sector, and we fully support the clear, coordinated action set out in the Roadmap that will help unlock the UK’s full solar potential.  

    We look forward to continuing our collaboration with government and industry to turn this vision into reality.

    Alexandra Desouza, EMEA General Counsel, Lightsource bp and member of the Solar Taskforce said: 

    The publication of the solar roadmap comes at a big moment for the UK energy sector — and especially for solar. Solar is key to the UK’s future energy mix and has a critical role to play in delivering secure, low-cost power.  

    The deployment of more solar and battery storage helps keep energy costs competitive for UK businesses, boosting economic growth and making companies more resilient. 

    As per the solar roadmap’s aims and ambitions, the focus is to shift to delivery for Clean Power 2030. This is a real opportunity for the UK to align behind a shared goal — bringing communities together, supporting farmers, and accelerating the transition to renewable and domestic generation.

    Kamal Rajput, Tata Steel UK’s Strategic Business Development Lead, and Co-Chair of the Solar Energy UK, UK Supply Chain Steering Group said:  

    We very much welcome the publication of the Solar Roadmap, highlighting the vital role that UK manufacturers such as Tata Steel will play in helping government achieve its clean energy targets.  

    With our product innovations such as the recently launched Catnic SolarSeam roofing system, and our MagiZinc products used extensively in utility scale racking systems, Tata Steel is well-placed to play a significant role in the growing solar energy sector.

    Case studies

    Case study 1

    Phil lives in North Leeds with his wife and son. They installed 14 solar panels and battery storage on their detached 3 bed property in November 2022.   

    The installation cost approximately £20,000 in total – £8,000 for solar panels, £8,000 for the battery and the rest contributed towards and Electric Vehicle Charging port. 

    Phil says:

    I wanted solar because we had an electric car and the prospect of charging it from the sun was quite attractive. Over the last 90 days, our electric bill was minus £18.60 – in other words, we’ve cooked, cleaned, tumble-dried, showered, watched copious amounts of TV, ran the car for 2,000 miles and we are owed £18.60!

    With retirement looming, we wanted to invest in the house to make it as cheap to run as possible. Our monthly direct debit is less than half what it was before the install.

    Case study 2

    Tim is a retired teacher living south of King’s Lynn. He had 12 solar panels and a battery storage unit installed on his 3-bed property in March 2024. 

    His home is a new-build property with an EPC rating B+ that also includes an air source heat pump that is powered entirely through clean power supplied by the solar panels. He’s also installed an Electric Vehicle Charging point on his drive. 

    Since installing the rooftop solar panels, Tim’s electricity bill has gone from £1,200 a year to £150 a year – saving of over £1,000 a year. 

    Tim says:

    I’ve been delighted with the results so far. Before I put the panels up, I used 3 MWh of electricity. Over the past 12 months the solar panels alone have generated over double that amount – meaning I am technically my own electricity supplier selling back to the grid!

    The panels will pay for themselves in 12 years but will last for more like 25 years whilst adding value to my house, should I decide to sell it.  

    I used the lump sum from my pension to pay for the panels. I see it as an investment for the future – an investment in the planet, but also my own financial security as my bills are now so low.

    It is great to be part of the green energy revolution! In a world of global warming and climate change, at least the house is now self-sufficient in power. The advantages of solar are so great that my father, aged 90, has also had them installed recently on his house near Nottingham.

    Case study 3

    Stourton Park and Ride in Leeds is the UK’s first fully solar-powered park and ride, featuring a 1.2 MW system of solar panels, battery storage, and 26 Electric Vehicle charging points.   

    The Solar PV system is estimated to generate 852,000 kWh a year and offset 471 tonnes of carbon in its first year – the equivalent of removing over 200 cars from the road.  

    Notes to editors  

    The Bundesnetzagentur (Germany’s Federal Network Agency) registered about 435,000 new plug-in balcony solar panel installations in its core energy market data register in 2024. 

    View the full Solar Roadmap.

    Read the data on public support for solar: DESNZ Public Attitudes Tracker: Spring 2024.

    Contact details to the case studies can be made available on request.

    Updates to this page

    Published 30 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Zscaler Announces Proposed Offering of $1.5 Billion of Convertible Senior Notes Due 2028

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., June 30, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (Nasdaq: ZS) today announced that it intends to offer $1.5 billion aggregate principal amount of its convertible senior notes due 2028 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Zscaler also intends to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $225 million aggregate principal amount of notes. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    The notes will be senior unsecured obligations of Zscaler and will accrue interest payable semiannually in arrears. The notes will mature on July 15, 2028, unless earlier converted or repurchased and will be convertible under certain circumstances into cash, shares of Zscaler’s common stock or a combination of cash and shares of Zscaler’s common stock, at Zscaler’s election. The interest rate, initial conversion rate, repurchase rights and other terms of the notes will be determined at the time of pricing of the offering.

    Zscaler intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions described below. Zscaler intends to use the remainder of the net proceeds for general corporate purposes, which may include working capital, capital expenditures, and potential acquisitions and strategic transactions.

    Further, in connection with the pricing of the notes, Zscaler expects to enter into privately negotiated capped call transactions with one or more of the initial purchasers and/or their respective affiliates and/or other financial institutions (the “option counterparties”). The capped call transactions are expected to cover, subject to anti-dilution adjustments substantially similar to those applicable to the notes, the number of shares of Zscaler’s common stock that will initially underlie the notes. The capped call transactions are expected generally to reduce the potential dilution to Zscaler’s common stock upon any conversion of notes and/or offset any cash payments Zscaler is required to make in excess of the principal amount of converted notes, as the case may be, with such reduction and/or offset subject to a cap. If the initial purchasers exercise their option to purchase additional notes, Zscaler expects to enter into additional capped call transactions with the option counterparties.

    Zscaler has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates may purchase shares of Zscaler’s common stock and/or enter into various derivative transactions with respect to Zscaler’s common stock concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of Zscaler’s common stock or the notes at that time.

    In addition, Zscaler has been advised that the option counterparties and/or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Zscaler’s common stock and/or purchasing or selling Zscaler’s common stock or other securities of Zscaler in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and are likely to do so during the observation period related to a conversion of the notes, in connection with any fundamental change repurchase of the notes, and to the extent Zscaler unwinds a corresponding portion of the capped call transactions, following any other repurchase of the notes). This activity could also cause or avoid an increase or a decrease in the market price of Zscaler’s common stock or the notes, which could affect the ability of noteholders to convert the notes, and, to the extent the activity occurs during any observation period related to a conversion of notes, it could affect the number of shares and value of the consideration that a noteholder will receive upon conversion of its notes.

    The notes will be offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Neither the notes, nor any shares of Zscaler’s common stock issuable upon conversion of the notes, have been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

    This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events. In some cases, you can identify forward-looking statements because they contain words such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” or “expect,” or the negative of these words, or other similar terms or expressions that concern Zscaler’s expectations, strategy, plans, or intentions. Forward-looking statements in this release include, but are not limited to, statements concerning the proposed terms of the notes, capped call transactions and repurchase or early conversion of the notes, exercise of the purchasers option to purchase additional notes, and the anticipated use of proceeds from the offering.

    Zscaler’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Zscaler’s filings with the Securities and Exchange Commission, including Zscaler’s Quarterly Report on Form 10-Q filed on May 29, 2025. The forward-looking statements in this release are based on information available to Zscaler as of the date hereof, and Zscaler disclaims any obligation to update any forward-looking statements, except as required by law.

    Investor Relations Contact:

    Ashwin Kesireddy
    Vice President, Investor Relations & Strategic Finance
    ir@zscaler.com

    Media Contact:

    Nick Gonzalez, Sr. Manager, Media Relations
    press@zscaler.com

    The MIL Network –

  • MIL-OSI: Lantronix Enters Into Cooperation Agreement With Investor Group Led by Chain of Lakes Investment Fund LLC

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., June 30, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX) (the “Company”), a global leader in compute and connectivity IoT solutions enabling Edge AI intelligence, today announced that it has entered into a cooperation agreement with Lantronix stockholders Chain of Lakes Investment Fund LLC (“Chain of Lakes”), Haluk L. Bayraktar and Emre Aciksoz. Under the terms of the agreement, James (Jim) C. Auker will be appointed to the Lantronix Board of Directors (the “Board”) and will be nominated for election at the Company’s 2025 Annual Meeting of Stockholders. The date of the Annual Meeting has not yet been announced.

    “Lantronix is committed to maximizing value for all Lantronix shareholders,” said Saleel Awsare, CEO and president of Lantronix. “We appreciate the constructive discussions with Chain of Lakes and are pleased to welcome Jim Auker to our Board. His perspective and experience will be valuable as we continue to execute on our strategic priorities.”

    “We value the collaborative approach taken by Saleel and the Lantronix Board to reach a positive outcome for the benefit of all Lantronix shareholders,” said Tim O’Connell, chief investment officer of Chain of Lakes. “We believe Jim Auker will be a strong addition to the Board and are confident his contributions will help guide Lantronix in its efforts to explore opportunities to enhance shareholder value.”

    Pursuant to their agreement with the Company, Chain of Lakes, Mr. Bayraktar and Mr. Aciksoz have agreed to customary standstill and voting commitments, among other provisions. The full agreement and required information in connection with the election of Mr. Auker to the Board will be filed with the U.S. Securities and Exchange Commission.

    About Lantronix

    Lantronix Inc. is a global leader in compute and connectivity IoT solutions that target high-growth industries, including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to achieve success in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

    For more information, visit the Lantronix website.

    Forward-Looking Statements

    This news release contains forward-looking statements, including statements concerning management’s expectations about the future benefits of our entry into the cooperation agreement and the election of Mr. Auker to our Board. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. We have based our forward-looking statements on our current expectations and projections about trends affecting our business and industry and other future events. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Forward-looking statements are subject to substantial risks and uncertainties that could cause our results or experiences, or future business, financial condition, results of operations or performance, to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. Other factors which could have a material adverse effect on our operations and future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to: the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to a pandemic or similar outbreak, wars and recent conflicts in Europe, Asia and the Middle East, hostilities in the Red Sea, or other causes; our ability to successfully convert our backlog and current demand;  the impact of a pandemic or similar outbreak on our business, employees, customers, supply and distribution chains and the global economy; our ability to successfully implement our acquisition strategy or integrate acquired companies; uncertainty as to the future profitability of acquired businesses, and delays in the realization of, or the failure to realize, any accretion from acquisition transactions; acquiring, managing and integrating new operations, businesses or assets, and the associated diversion of management attention or other related costs or difficulties; our ability to continue to generate revenue from products sold into mature markets; our ability to develop, market, and sell new products; our ability to succeed with our new software offerings; our use of AI may result in reputational, competitive or financial harm and liability; fluctuations in our revenue due to the project-based timing of orders from certain customers; unpredictable timing of our revenues due to the lengthy sales cycle for our products and services and potential delays in customer completion of projects; our ability to accurately forecast future demand for our products; delays in qualifying revisions of existing products; constraints or delays in the supply of, or quality control issues with, certain materials or components; difficulties associated with the delivery, quality or cost of our products from our contract manufacturers or suppliers; risks related to the outsourcing of manufacturing and international operations; difficulties associated with our distributors or resellers; intense competition in our industry and resultant downward price pressure; rises in inventory levels and inventory obsolescence; undetected software or hardware errors or defects in our products; cybersecurity risks; our ability to obtain appropriate industry certifications or approvals from governmental regulatory bodies; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to protect patents and other proprietary rights and avoid infringement of others’ proprietary technology rights; issues relating to the stability of our financial and banking institutions and relationships; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; the impact of rising interest rates; our ability to attract and retain qualified management; and any additional factors included in our Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025, filed with the SEC on May 9, 2025, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; and in our other public filings with the SEC. In addition, actual results may differ as a result of additional risks and uncertainties of which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

    Important Additional Information Regarding Proxy Solicitation

    We intend to file a proxy statement and proxy card with the SEC in connection with the solicitation of proxies for our 2025 Annual Meeting of Stockholders (the “Proxy Statement” and such meeting, the “2025 Annual Meeting”). The Company, our directors and certain of our executive officers are participants in the solicitation. Information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the Proxy Statement and other relevant documents to be filed with the SEC.

    Additional information regarding the participants and their respective interests in the Company by security holdings or otherwise is set forth under the captions “Corporate Governance and Board Matters,” “Executive Compensation” and “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” in our proxy statement for the 2024 Annual Meeting of Stockholders, filed with the SEC on Sept.30, 2024 (the “2024 Proxy Statement”) and available at sec.gov/Archives/edgar/data/1114925/000114036124042340/ny20032265x1_def14a.htm.

    To the extent holdings of such participants in our securities have changed since the amounts described in the 2024 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Details concerning the nominees of our Board of Directors for election at the 2025 Annual Meeting will be included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING PROXY CARD AND ANY AMENDMENTS AND SUPPLEMENTS THERETO BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. These documents, including the definitive Proxy Statement (and any amendments or supplements thereto) and other documents filed by us with the SEC, are available for no charge at the SEC’s website at http://www.sec.gov and at our investor relations website at https://www.lantronix.com/investor-relations/sec-filings.

    © 2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

    Lantronix Media Contact:        
    Gail Kathryn Miller
    Corporate Marketing &
    Communications Manager
    media@lantronix.com
    949-212-0960

    Lantronix Analyst and Investor Contact:        
    investors@lantronix.com

    The MIL Network –

  • MIL-OSI: Cielo Announces AGM Results and Extension of Unit Offering

    Source: GlobeNewswire (MIL-OSI)

    THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

    CALGARY, Alberta, June 30, 2025 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV: CMC; OTC PINK: CWSFF) (“Cielo” or the “Company”) is pleased to announce the results of its annual general and special meeting of shareholders (the “Meeting”) held on June 24, 2025, as well as an extension to the Offering (as defined below).

    Shareholder Meeting

    All of the business items proposed by management were approved by the shareholders at the Meeting, as follows:

    • setting the size of the Board of Directors at four for the ensuing year;
    • electing each management-nominated director for the ensuing year;
    • appointing MNP LLP as the Company’s auditor; and
    • re-approving the Company’ rolling stock option plan.

    The directors of Cielo are: Sheila Leggett (who was re-appointed Chair following the Meeting), Ryan Jackson, Peter MacKay, and Larry Schafran.

    Private Placement Offering of Units

    The Company is also continuing to offer, on a private placement basis, the issuance of up to 60,000,000 units (each a “Unit”, collectively the “Units”) at a price of $0.05 per Unit (the “Offering”), for gross proceeds of up to C $3,000,000.

    The Company had initially announced the Offering in a news release on May 13, 2025. The TSX Venture Exchange has conditionally approved the Offering as well as an extension. The closing is anticipated to occur on or about July 18, 2025.

    This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    ABOUT CIELO

    Cielo Waste Solutions Corp. is a publicly traded company focused on transforming waste materials into high-value products. Cielo seeks to address global waste challenges while contributing to the circular economy and reducing carbon emissions. Cielo is fueling environmental change with a mission to be a leader in the wood by-product-to-fuels industry by using environmentally friendly, economically sustainable and market-ready technologies. Cielo is committed to helping society by providing environmental waste solutions, which the Company believes will contribute to generating positive returns for shareholders. Cielo shares are listed on the TSX Venture Exchange under the symbol “CMC,” as well as on the OTC Pink Market under the symbol “CWSFF.”

    For further information please contact:

    Cielo Investor Relations

    Ryan C. Jackson, CEO
    Phone: (403) 348-2972
    Email: investors@cielows.com

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes.

    Forward-looking statements are subject to both known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Cielo, that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions. The Company is making forward-looking statements, including but not limited to, with respect to: the Offering.

    Investors should continue to review and consider information disseminated through news releases and filed by Cielo on SEDAR+. Although the Company has attempted to identify crucial factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

    Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Cielo’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    The MIL Network –

  • MIL-OSI: Credicorp Ltd.: Credicorp Takes Legal Action to Defend Rule of Law in Tax Dispute with SUNAT

    Source: GlobeNewswire (MIL-OSI)

    Lima, June 30, 2025 (GLOBE NEWSWIRE) — Lima, PERU, June 30, 2025 – Credicorp Ltd. (“Credicorp” or “the Company”) (NYSE:BAP | BVL: BAP), the leading financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, and Panama, through its subsidiary Grupo Credito S.A. initiates legal action against the Peruvian Tax Administration (Superintendencia Nacional de Aduanas y de Administración Tributaria – SUNAT), for disregarding the law and the decision of SUNAT´s Review Committee (Comité Revisor), whose rulings are binding under current legislation. The Company expresses concern that SUNAT is ignoring the legal framework in effect at the time of the transactions in question, thereby undermining legal certainty for companies operating in Peru.

    The transactions in question involved Grupo Crédito S.A. purchasing Banco de Crédito del Perú (BCP) shares from Credicorp Ltd. in 2018 and 2019, through the Lima Stock Exchange.  At the time, Peruvian law exempted such transactions from income tax, provided that the transferred shares did not exceed 10% of the total outstanding shares of the issuing company within a 12-month period.

    These transactions were communicated to the Superintendencia del Mercado de Valores (SMV), approved by the Superintendencia de Banca, Seguros y AFP (SBS), and duly registered with Registro Central de Valores y Liquidaciones (CAVALI). They were conducted transparently and in full compliance with applicable legal and regulatory requirements.

    Credicorp notes that this case was previously reviewed by SUNAT’s own Review Committee, which confirmed the authenticity of the transactions and found no grounds for tax elusion claims. Nevertheless, SUNAT has reopened the matter and is now seeking over S/. 1.5 billion in purported unpaid income tax and accrued interest. Credicorp views this action as a serious breach of legal predictability, given it involves both the disregard of established legal norms, and the reopening of a case already assessed and resolved by SUNAT’s own Review Committee. In accordance with International Accounting Standards, no expense provisions are necessary.

    Credicorp is evaluating this new development and will respond through all appropriate legal and administrative channels. Grupo Crédito S.A., the entity involved, reaffirms its commitment to full regulatory and tax compliance, and to protecting the interests of its employees, clients, and investors.

    About Credicorp:
    Credicorp (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia, Bolivia, and Panama. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Crédito del Peru (“BCP”) and Banco de Crédito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Management & Advisory, through Credicorp Capital, Wealth Management at BCP and ASB Bank Corp.

    For further information please contact the IR team:
    investorrelations@credicorpperu.com
    Investor Relations
    Credicorp Ltd.

    The MIL Network –

  • MIL-OSI: Bitcoin News: Topnotch Crypto Breaks Down Barriers with First-of-its-Kind Free Cloud Mining Platform 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, June 30, 2025 (GLOBE NEWSWIRE) — In a landmark move for digital inclusion, Topnotch Crypto today launched a revolutionary, zero-cost cloud mining platform. This initiative is engineered to fundamentally reshape public interaction with blockchain technology by making participation in the Bitcoin network universally accessible. By removing the significant financial and technical barriers that have historically ringfenced the world of cryptocurrency, Topnotch Crypto is opening the doors to a new era of technological empowerment.

    The launch directly addresses a long-standing challenge within the digital asset space. For years, direct participation in securing the Bitcoin network has been an exclusive endeavor, demanding substantial investments in specialized, high-cost hardware, coupled with the deep technical expertise required to configure and maintain it. Furthermore, the immense energy consumption associated with traditional mining has raised valid environmental concerns, creating an additional barrier for the eco-conscious user. Topnotch Crypto’s platform systematically dismantles these obstacles, creating a level playing field for all.

    At the core of this initiative is a firm belief in democratizing technology. The company’s mission is to bridge the digital divide, providing the tools and access necessary for anyone, regardless of their financial status or technical background, to explore and engage with the foundational layer of blockchain. This is more than a product launch; it is the enactment of a vision for a more inclusive and decentralized digital ecosystem.

    “We believe everyone deserves the right to participate in the future of digital technology, not just as users of applications, but as active participants in the underlying infrastructure. Our goal is to empower people and ignite curiosity,” said a spokesperson for Topnotch Crypto. “We are turning a complex process into a simple, accessible experience. After registration, you can enjoy the platform’s computing power allocation and mining rights. This isn’t about speculation; it’s about education, experience, and providing a tangible connection to the technology that will shape our future. We are giving people the tools to see firsthand how this global network operates, powered entirely by sustainable energy.”

    The platform is built on several key pillars designed for simplicity, security, and sustainability:

    • Zero-Cost Access: Upon completing a simple registration, every user is granted an allocation of computing power as bonus. This provides a foundational share of the platform’s resources, allowing for direct participation in network activities without any financial commitment.
    • Instant Activation: The journey from signing up to active participation takes only minutes. The platform is designed for a seamless, intuitive onboarding experience, eliminating the complex setup and configuration processes typical of traditional mining operations.
    • Unwavering Commitment to Sustainability: All of Topnotch Crypto’s data centers are powered by 100% renewable energy sources, including geothermal and solar power. This green-first approach not only ensures low-cost, efficient operations but also allows users to participate in the network with a clean environmental conscience.
    • A Secure and Transparent Environment: User experience is protected by institutional-grade security protocols. The platform features a clean, transparent dashboard where users can monitor their allocated computing power and review its activity, offering a clear window into the process.

    Getting started is a straightforward process:

    1. Visit the official Topnotch Crypto website.
    2. Create your free account through the secure registration portal.
    3. Your access and computing power allocation are activated automatically.

    This launch represents a pivotal moment for the industry. By creating a sustainable, secure, and entirely free gateway to the Bitcoin network, Topnotch Crypto is not just launching a platform—it is fostering a more educated, diverse, and empowered global community.

    Visit Topnotch Crypto online today to secure your place in the future of digital technology.

    About Topnotch Crypto

    Topnotch Crypto is a global leader in providing secure, efficient, and sustainable cryptocurrency infrastructure solutions. By integrating cutting-edge technology with a 100% renewable energy framework, Topnotch Crypto offers a transparent and powerful platform for users to experience and participate in blockchain networks.

    More information:

    Official website: https://topnotchcrypto.com

    Disclaimer: The information provided in this press release is not intended as and does not constitute investment advice, financial advice, or trading advice. Cryptocurrency investment, including mining, carries a high level of risk, and you could lose your entire investment. You should conduct your own due diligence and consult with a qualified professional financial advisor before making any investment decisions.

    The MIL Network –

  • MIL-OSI: First Merchants Corporation to Report Second Quarter 2025 Financial Results, Host Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    MUNCIE, Ind., June 30, 2025 (GLOBE NEWSWIRE) — First Merchants Corporation (Nasdaq:FRME) will release second quarter 2025 financial results on July 23, 2025. The Corporation will host a second quarter 2025 earnings conference call and webcast at 9:00 a.m. (ET) on Thursday, July 24, 2025.

    To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: (https://register-conf.media-server.com/register/BI605c2e360ce04cfc9c4221bda7f67a49)

    In order to view the webcast and presentation slides, please go to (https://edge.media-server.com/mmc/p/ced58zg3) during the time of the call. A replay of the webcast will be available until July 24, 2026.  

    About First Merchants Corporation

    First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

    First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

    FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

    FOR IMMEDIATE RELEASE
    For more information, contact:
    Nicole M. Weaver, First Vice President and Director of Corporate Administration
    765-521-7619
    http://www.firstmerchants.com

    The MIL Network –

  • MIL-OSI: First Merchants Corporation to Report Second Quarter 2025 Financial Results, Host Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    MUNCIE, Ind., June 30, 2025 (GLOBE NEWSWIRE) — First Merchants Corporation (Nasdaq:FRME) will release second quarter 2025 financial results on July 23, 2025. The Corporation will host a second quarter 2025 earnings conference call and webcast at 9:00 a.m. (ET) on Thursday, July 24, 2025.

    To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: (https://register-conf.media-server.com/register/BI605c2e360ce04cfc9c4221bda7f67a49)

    In order to view the webcast and presentation slides, please go to (https://edge.media-server.com/mmc/p/ced58zg3) during the time of the call. A replay of the webcast will be available until July 24, 2026.  

    About First Merchants Corporation

    First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

    First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

    FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

    FOR IMMEDIATE RELEASE
    For more information, contact:
    Nicole M. Weaver, First Vice President and Director of Corporate Administration
    765-521-7619
    http://www.firstmerchants.com

    The MIL Network –

  • MIL-OSI USA: Governor Green Enacts Legislation to Uphold Agricultural and Biosecurity Resilience and Support Local Innovation

    Source: US State of Hawaii

    Governor Green Enacts Legislation to Uphold Agricultural and Biosecurity Resilience and Support Local Innovation

    Posted on Jun 27, 2025 in Main

    From the Office of the Governor

    June 27, 2025

    HONOLULU – Governor Josh Green, M.D., signed five bills into law today, affirming the commitment to strengthening Hawai‘i’s agricultural and economic sectors for the benefit of the ‘āina, its people, and local businesses.

    “The health and resiliency of our agricultural lands and producers are not just vital — they are the very foundation of Hawai‘i’s well-being and future,” said Governor Green. “It is our kuleana to protect the ‘āina that nourishes our people and to uplift those who represent Hawai‘i through their unwavering dedication and hard work. The bills signed today mark our state’s continual support of those responsibilities.”

    “These are all about striving toward food, self-reliance and food security. Our state legislature is taking a firm stance to support agriculture and our local industries and food production,” said Senator Tim Richards, vice chair of the Senate Committee on Agriculture and Environment.

    SB 1249: RELATING TO AGRICULTURE
    Agricultural crimes undermine the stability of our state’s agricultural industry and infringe upon the rights of landowners. Senate Bill 1249 (Act 235) seeks to protect farmers and ranchers by establishing a temporary Agricultural Enforcement Pilot Program within the Department of Law Enforcement operating on the islands of O‘ahu and Hawai‘i. This pilot program will allow for swift and effective responses to agricultural crimes and provide critical data to the state to better understand this nuanced crisis. The data gathered and the report provided will aid in the possible expansion of the program in the future.

    To further deter agricultural crimes, SB 1249 clarifies existing laws, creates new offenses, and strengthens penalties against violators. These enhancements include administrative enforcements and stricter consequences for habitual agricultural offenders, as well as increased penalty classes and fines. Additional deterrents address cattle branding violations, the illegal transportation of livestock, unauthorized hunting, theft, and trespassing on private property.

    By establishing clear enforcement measures, this bill emphasizes Hawai‘i’s commitment to protecting and respecting agricultural lands and communities.

    “SB 1249 is about protecting our farmers and ranchers while honoring the memory of Duke Pia,” said Senator Richards (Senate District 4 – North Hilo, Hāmākua, Kohala, Waimea, Waikoloa, North Kona). “Duke was a young rancher who was tragically shot and killed while confronting trespassers on his land. This law strengthens enforcement, increases penalties, and gives us the tools to fight rural crime. It’s about justice, safety, and preserving the future of agriculture in Hawai‘i.”

    HB 427: RELATING TO BIOSECURITY
    House Bill 427 (Act 236) institutes the renaming of the Department of Agriculture to the Department of Agriculture and Biosecurity and the Board of Agriculture as the Board of Agriculture and Biosecurity. The renaming, in addition to the amendments to the duties within the department, better strengthens the state’s resilience against biosecurity threats by reinforcing the need to protect against invasive species, pests, and diseases.

    The measure establishes a position of Deputy Chairperson for biosecurity to oversee all biosecurity initiatives within the department who will serve under the chairperson of the Board of Agriculture and Biosecurity. Under HB 427, the Department of Agriculture and Biosecurity, in conjunction with the Governor’s approval, may declare a biosecurity emergency in response to the outbreak of a pest or resistant organism that poses an economic or environmental threat.

    Hawai‘i’s unique geographical characteristics underscore the importance of closely monitoring biosecurity risks entering the state. While isolation presents challenges, it also affords a strategic advantage by limiting the modes of transportation through which goods are received. To mitigate the spread of infections, pests, and outbreaks of harmful organisms, HB 427 establishes regulations for the creation of the state’s first transitional facilities. The transitional facilities require items entering through piers, airports, or other ports to be assessed and certified by a trained Biosecurity Compliance Auditor.

    Due to the fragility of our ecosystem, HB 427 increases penalties for illegally transporting plants, animals, and microorganisms to safeguard our state’s economy, native landscape, and people.

    To keep the public informed, a pest dashboard is to be established with regularly updated treatment data with which departments, agencies, political subdivisions, or contracted parties that fail to provide information to the dashboard will be subject to the withholding of funds or denial of fund expenditures.

    Lastly, HB 427 transfers the Hawaiʻi Invasive Species Council from the Department of Land and Natural Resources to the Department of Agriculture and Biosecurity.

    The administration remains dedicated to providing strong, ongoing support for biosecurity initiatives. The state budget reflects this commitment by allocating the highest level of funding ever for biosecurity — $26.6 million appropriated for the fiscal biennium to support positions and related expenses.

    “With the increasing frequency of natural disasters and growing biosecurity threats, safeguarding our resources and environment is a top priority for my administration,” said Governor Green. “Prevention and forethought will fortify our state, and by signing HB 427, we are keeping top of mind the ways in which we can stay in the driver’s seat — actively leading the effort to protect our agriculture and our islands.”

    HB 774: RELATING TO VALUE-ADDED PRODUCTS
    To further expand and support to Hawai‘i’s local businesses, House Bill 774 (Act 237) establishes a food and product innovation network within the Agribusiness Development Corporation. The network will provide small businesses and entrepreneurs with access to facilities, equipment, expertise, and certification resources.

    The development of this network will facilitate the responsible use of labels such as “Hawai‘i made,” “Made in Hawai‘i,” “Produced in Hawai‘i” and “Processed in Hawai‘i,” aiding businesses scale and promote their products locally and internationally.

    HB 774 strengthens the state’s economic resiliency in sectors such as agriculture, sustainability, and culinary innovation, and promotes growth with the spirit of aloha at its core.

    “HB 774 is transformative for Hawaiʻi’s farmers and food entrepreneurs — empowering them to innovate, grow and proudly share their unique products with the world,” said Representative Kirstin Kahaloa, introducer of the legislation. “By establishing a Food and Product Innovation Network, we not only support local agriculture but also boost food security, fuel our state’s economic growth, and build a more resilient and sustainable Hawaiʻi. This initiative supports a stronger, thriving future for our communities and ʻāina,” she said.

    The complete list of bills signed includes the following. Click the link to see full details of the bill enacted into law.

    HB 534 (ACT 238) RELATING TO LABELING REQUIREMENTS
    HB 496 (ACT 242) RELATING TO MĀMAKI TEA

    Video of the bill signing can be seen here.
    Photos of the bill signing ceremony, courtesy Office of the Governor, will be uploaded here.
    The slide deck presented at today’s bill signing can be found here.

     # # #

    MIL OSI USA News –

  • MIL-OSI USA: HAWAI‘I GREEN BUSINESS AWARDS PROGRAM HONORS LOCAL BUSINESSES AND EVENTS FOR SUSTAINABILITY PRACTICES

    Source: US State of Hawaii

    HAWAI‘I GREEN BUSINESS AWARDS PROGRAM HONORS LOCAL BUSINESSES AND EVENTS FOR SUSTAINABILITY PRACTICES

    Posted on Jun 27, 2025 in Latest Department News, Newsroom

    STATE OF HAWAIʻI
     KA MOKU ʻĀINA O HAWAIʻI

    JOSH GREEN, M.D.
     GOVERNOR
    KE KIAʻĀINA

     

    DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

    KA ʻOIHANA HOʻOMOHALA PĀʻOIHANA, ʻIMI WAIWAI A HOʻOMĀKAʻIKAʻI

     

    JAMES KUNANE TOKIOKA

    DIRECTOR

    KA LUNA HOʻOKELE

     

    HAWAIʻI STATE ENERGY OFFICE

    KE‘ENA HANA UILA MOKU‘ĀINA

    MARK B. GLICK

    CHIEF ENERGY OFFICER

    LUNA IKEHU

     

    2024/2025 HAWAI‘I GREEN BUSINESS AWARDS PROGRAM HONORS LOCAL BUSINESSES AND EVENTS FOR SUSTAINABILITY PRACTICES  

     

    FOR IMMEDIATE RELEASE

    June 27, 2025

     

    HONOLULU —The Hawai‘i Green Business Program (HGBP) recognized 45 Hawai‘i businesses and events today for their commitment to energy and water efficiency, waste reduction, pollution prevention and community involvement, as well as cultural and natural resource preservation.

    The 45 awardees representing six islands were recognized during the annual HGBP awards ceremony at historical Washington Place. Hosted by the Hawai‘i State Energy Office, the Honolulu Board of Water Supply and Hawaiʻi Energy, the awards program

    showcases the businesses advancing Hawaiʻi’s clean energy and sustainability goals, emphasizing energy efficiency as a key solution in accelerating Hawaiʻi’s move to renewable energy.

    Governor Josh Green, M.D., praised awardees for their commitment to sustain the ecological, cultural and economic health of Hawaiʻi, heralding lawmakers for the 2025 passage of the nation’s first climate impact fee to fund environmental stewardship and address the impacts of climate change.

    Governor Green said, “At a time when environmental protections are being repealed at the federal level, Hawaiʻi will not forfeit its commitment to a more resilient, clean economy. The businesses and organizations we recognize today honor a statewide commitment to malama ʻāina — to steward our precious natural resources for future generations.”

    “Simply put,” said Hawai’i Chief Energy Officer Mark Glick, “using less energy means we need to generate less. These 45 businesses are among the best applying efficiency to our commercial building stock and energy efficient business practices make a profound difference.”

    Newly appointed state director of energy efficiency and renewable energy Monique Zanfes concluded, “Many of the businesses in this room rely on Hawai‘i’s natural resources not just for operations, but as the foundation of what draws people here. Protecting these resources isn’t just the right thing to do — it’s essential to the long-term viability and health of Hawai‘i. I thank them for leading by example.”

    The honorees of this year’s Hawai‘i Green Business Program Awards are:

      Green Hotels, Resorts, Venue and Office Awardees:

    • Ala Moana Hotel by Mantra
    • Halekulani
    • Halepuna Waikiki
    • Hokulani, a Hilton Grand Vacations Club
    • The Kahala Hotel & Resort
    • Marriott’s Ko Olina Beach Club
    • Prince Waikiki
    • Kings’ Land, a Hilton Grand Vacations Club
    • Maui Bay Villas, a Hilton Grand Vacations Club
    • The Cliffs at Princeville
    • Four Seasons Resort O‘ahu at Ko Olina
    • Four Seasons Resort Maui at Wailea
    • Four Seasons Resort Lānaʻi
    • Sensei Lānaʻi, A Four Seasons Resort
    • Hawai‘i Convention Center
    • Waialae Country Club
    • Honeywell International/Smart Energy
    • Coradorables Sustainable Corporation

    Green Event Awardees:

    • 2024 Hawai‘i Library Association/HASL HLA Conference
    • 2025 Sony Open
    • Artist Waltz
    • Green Business Engagement National Network 7th National GBENN Summit
    • Sentry 2024 Golf Tournament

    Entry Level Program Awardees:

    • Coconut Ave
    • Drip Studio
    • The Fresh Shave
    • Hoku Foods Natural Market
    • Kilauea Bakery
    • Lady Elaine
    • Leong’s Road House
    • Little Plum
    • Uncle Paul’s Corner Store
    • Maui Juice Co.
    • Morning Glass Coffee
    • Pele’s Kitchen
    • Pu‘u O Hōkū Ranch
    • Sweet Cane Café
    • The Locavore Store
    • Oko‘a Farms Produce
    • Hanalei Spirits Distillery
    • Kaua‘i Island Brewing Co.
    • Kona Brewing Company
    • Lanikai Brewing Co.
    • Maui Brewing Company
    • Waikulu Distillery

    In one year, the energy efficiency measures of the above businesses resulted in 38.8 million gallons of water saved, 6.5 million kWh of electricity saved, 22.7 tons of green waste diverted, 12,372 tons of waste recycled,119,110 therms (1 therm = 100,000 BTUs) of gas saved, 6,725 metric tons of CO2 equivalent for electricity kWh reduced and 945 metric tons of CO2 equivalent for gas reduced.

     

     

     # # #  

      

    Media Contacts:   

     

    Yvonne Hunter

    Strategy and Marketing Officer

    Hawaiʻi State Energy Office

    Cell: 808-497-0080

    Laci Goshi

    Communications Officer

    Department of Business, Economic Development and Tourism

    Cell: 808-518-5480

    Erika Engle

    Press Secretary

    Office of the Governor, State of Hawai‘i

    Phone: 808-586-0120

    Makana McClellan

    Director of Communications

    Office of the Governor, State of Hawaiʻi

    Cell: 808-265-0083

     

                    

    MIL OSI USA News –

  • MIL-OSI USA: Office of the Governor – News Release – Gov. Green Enacts Legislation to Uphold Agricultural and Biosecurity Resilience and Support Local Innovation

    Source: US State of Hawaii

    HONOLULU – Governor Josh Green, M.D., signed five bills into law today, affirming the commitment to strengthening Hawai‘i’s agricultural and economic sectors for the benefit of the ‘āina, its people, and local businesses.

    “The health and resiliency of our agricultural lands and producers are not just vital — they are the very foundation of Hawai‘i’s well-being and future,” said Governor Green. “It is our kuleana to protect the ‘āina that nourishes our people and to uplift those who represent Hawai‘i through their unwavering dedication and hard work. The bills signed today mark our state’s continual support of those responsibilities.”

    “These are all about striving toward food, self-reliance and food security. Our state legislature is taking a firm stance to support agriculture and our local industries and food production,” said Senator Tim Richards, vice chair of the Senate Committee on Agriculture and Environment.

    SB 1249: RELATING TO AGRICULTURE
    Agricultural crimes undermine the stability of our state’s agricultural industry and infringe upon the rights of landowners. Senate Bill 1249 (Act 235) seeks to protect farmers and ranchers by establishing a temporary Agricultural Enforcement Pilot Program within the Department of Law Enforcement operating on the islands of O‘ahu and Hawai‘i. This pilot program will allow for swift and effective responses to agricultural crimes and provide critical data to the state to better understand this nuanced crisis. The data gathered and the report provided will aid in the possible expansion of the program in the future.

    To further deter agricultural crimes, SB 1249 clarifies existing laws, creates new offenses, and strengthens penalties against violators. These enhancements include administrative enforcements and stricter consequences for habitual agricultural offenders, as well as increased penalty classes and fines. Additional deterrents address cattle branding violations, the illegal transportation of livestock, unauthorized hunting, theft, and trespassing on private property.

    By establishing clear enforcement measures, this bill emphasizes Hawai‘i’s commitment to protecting and respecting agricultural lands and communities.

    “SB 1249 is about protecting our farmers and ranchers while honoring the memory of Duke Pia,” said Senator Richards (Senate District 4 – North Hilo, Hāmākua, Kohala, Waimea, Waikoloa, North Kona). “Duke was a young rancher who was tragically shot and killed while confronting trespassers on his land. This law strengthens enforcement, increases penalties, and gives us the tools to fight rural crime. It’s about justice, safety, and preserving the future of agriculture in Hawai‘i.”

    HB 427: RELATING TO BIOSECURITY
    House Bill 427 (Act 236) institutes the renaming of the Department of Agriculture to the Department of Agriculture and Biosecurity and the Board of Agriculture as the Board of Agriculture and Biosecurity. The renaming, in addition to the amendments to the duties within the department, better strengthens the state’s resilience against biosecurity threats by reinforcing the need to protect against invasive species, pests, and diseases.

    The measure establishes a position of Deputy Chairperson for biosecurity to oversee all biosecurity initiatives within the department who will serve under the chairperson of the Board of Agriculture and Biosecurity. Under HB 427, the Department of Agriculture and Biosecurity, in conjunction with the Governor’s approval, may declare a biosecurity emergency in response to the outbreak of a pest or resistant organism that poses an economic or environmental threat.

    Hawai‘i’s unique geographical characteristics underscore the importance of closely monitoring biosecurity risks entering the state. While isolation presents challenges, it also affords a strategic advantage by limiting the modes of transportation through which goods are received. To mitigate the spread of infections, pests, and outbreaks of harmful organisms, HB 427 establishes regulations for the creation of the state’s first transitional facilities. The transitional facilities require items entering through piers, airports, or other ports to be assessed and certified by a trained Biosecurity Compliance Auditor.

    Due to the fragility of our ecosystem, HB 427 increases penalties for illegally transporting plants, animals, and microorganisms to safeguard our state’s economy, native landscape, and people.

    To keep the public informed, a pest dashboard is to be established with regularly updated treatment data with which departments, agencies, political subdivisions, or contracted parties that fail to provide information to the dashboard will be subject to the withholding of funds or denial of fund expenditures.

    Lastly, HB 427 transfers the Hawaiʻi Invasive Species Council from the Department of Land and Natural Resources to the Department of Agriculture and Biosecurity.

    The administration remains dedicated to providing strong, ongoing support for biosecurity initiatives. The state budget reflects this commitment by allocating the highest level of funding ever for biosecurity — $26.6 million appropriated for the fiscal biennium to support positions and related expenses.

    “With the increasing frequency of natural disasters and growing biosecurity threats, safeguarding our resources and environment is a top priority for my administration,” said Governor Green. “Prevention and forethought will fortify our state, and by signing HB 427, we are keeping top of mind the ways in which we can stay in the driver’s seat — actively leading the effort to protect our agriculture and our islands.”

    HB 774: RELATING TO VALUE-ADDED PRODUCTS
    To further expand and support to Hawai‘i’s local businesses, House Bill 774 (Act 237) establishes a food and product innovation network within the Agribusiness Development Corporation. The network will provide small businesses and entrepreneurs with access to facilities, equipment, expertise, and certification resources.

    The development of this network will facilitate the responsible use of labels such as “Hawai‘i made,” “Made in Hawai‘i,” “Produced in Hawai‘i” and “Processed in Hawai‘i,” aiding businesses scale and promote their products locally and internationally.

    HB 774 strengthens the state’s economic resiliency in sectors such as agriculture, sustainability, and culinary innovation, and promotes growth with the spirit of aloha at its core.

    “HB 774 is transformative for Hawaiʻi’s farmers and food entrepreneurs — empowering them to innovate, grow and proudly share their unique products with the world,” said Representative Kirstin Kahaloa, introducer of the legislation. “By establishing a Food and Product Innovation Network, we not only support local agriculture but also boost food security, fuel our state’s economic growth, and build a more resilient and sustainable Hawaiʻi. This initiative supports a stronger, thriving future for our communities and ʻāina,” she said.

    The complete list of bills signed includes the following. Click the link to see full details of the bill enacted into law.

    HB 534 (ACT 238) RELATING TO LABELING REQUIREMENTS
    HB 496 (ACT 242) RELATING TO MĀMAKI TEA

    Video of the bill signing can be seen here.
    Photos of the bill signing ceremony, courtesy Office of the Governor, will be uploaded here.
    The slide deck presented at today’s bill signing can be found here.

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom signs balanced state budget that cuts taxes for vets, fully funds free school meals, builds more housing, & creates jobs

    Source: US State of California 2

    Jun 27, 2025

    ✅ FUNDED: Tax cut for military retirees

    ✅ FUNDED: Universal pre-kindergarten for all 

    ✅ FUNDED: Expanded before school, after school, & summer school

    ✅ FUNDED: Free school meals for all kids 

    ✅ FUNDED: Game-changing literacy & reading investments

    ✅ FUNDED: Building more housing, ASAP

    ✅ FUNDED: Lowering drug costs

    ✅ FUNDED: Expanding medication abortion access with CalRx

    ✅ FUNDED: Historic firefighting & public safety investments

    ✅ FUNDED: Protecting California’s iconic film industry

    Signing of landmark package to cut red tape, fast-track housing, and infrastructure forthcoming  

    SACRAMENTO – Amid Donald Trump’s economic assault on California, Governor Gavin Newsom today signed the 2025 state budget bill advanced in partnership with Senate President pro Tempore Mike McGuire and Speaker Robert Rivas. Together, the Governor and Legislature are enacting a responsible, balanced spending plan that safeguards California’s values while maintaining long-term fiscal health. This budget and forthcoming trailer bills include new, landmark policies that will accelerate housing production and boost affordability in communities across the state — addressing California’s most urgent challenges.

    As we confront Donald Trump’s economic sabotage, this budget agreement proves California won’t just hold the line — we’ll go even further. It’s balanced, it maintains substantial reserves, and it’s focused on supporting Californians — slashing red tape and catapulting housing and infrastructure development, preserving essential healthcare services, funds universal pre-K, and cuts taxes for veterans.

    Governor Gavin Newsom

    Pro Tem Mike McGuire says: “The State is delivering a responsible on-time budget in a challenging year focused on fiscal restraint and investing in the people and programs that make this State great. This budget prioritizes record funding for our kids and public schools, protects access to health care for millions of the most vulnerable, and will create more housing at a scale not seen in years. Thanks to this budget agreement, the state will help get more folks off the streets and into permanent shelter, and we’ll expand the ranks of CalFire, deploying hundreds of additional full-time CalFire firefighters, which will save lives and make us all more wildfire safe. And this agreement helps prepare our state for the ongoing chaos and massive uncertainty caused by the Trump administration. Thank you to our Senate Budget Chair Scott Wiener, Speaker Rivas and Governor Newsom and their staffs for their hard work for the people of California.”

    Speaker Robert Rivas says: “This is an incredibly difficult time for Californians. Trump is undermining our economy with reckless tariffs, harsh cuts, and ICE agents terrorizing our communities. At a moment when so many are already struggling, he’s adding fear and instability. In contrast, Democrats have delivered a budget that protects California. It cuts red tape to build more housing faster — because housing is the foundation of affordability and opportunity. It preserves critical investments in health care, women’s health, education, and public safety. And it honors our commitment not to raise taxes on families, workers, or small businesses. In unprecedented times, under painful circumstances, Democrats are delivering for Californians.”

    Tax cuts for vets, smaller class sizes, free school meals

    The budget reflects a shared commitment to protect opportunity and improve affordability in California, in the face of targeted attacks by the Trump administration. The budget makes historic investments in public education — from universal transitional kindergarten and free school meals to expanded before and after-school programs, summer school, smaller class sizes, and strengthened career training and higher education. The budget demonstrates the state’s commitment to honoring veterans by creating tax cuts for military retirees, recognizing their service and supporting their financial security. 

    Lowering prescription drug costs, protecting reproductive care, and safety nets 

    The budget preserves key health care programs for Californians targeted by Republicans. It preserves vital safety net programs, including in-home supportive services and women’s reproductive health. As part of the budget, the Governor is also expected to sign legislation protecting access to health care, license and regulate Pharmacy Benefit Managers for the first time, increasing transparency and accountability in the pharmacy supply chain. The legislation also expands CalRx’s authority to procure brand-name drugs and respond to politically motivated supply disruptions, helping shield access to critical medications like mifepristone.

    Lights, camera, JOBS

    The budget protects California’s position as the 4th largest economy in the world – supporting business and continued economic growth, including California’s iconic film industry. Next week, the Governor is expected to sign additional legislation as part of the expansion of the film and TV tax credit program — further catapulting the program’s impact to $750 million a year.

    Trump’s economic assault

    The balanced budget comes as California continues to confront significant fiscal pressures fueled by the Trump administration’s reckless economic and immigration policies. According to the California Department of Finance, Trump’s tariff regime is projected to cost the state an estimated $16 billion in lost General Fund revenue through the next fiscal year. And a new study released June 17 by the Bay Area Council Economic Institute, in collaboration with UC Merced, found that Trump’s mass deportations could slash $275 billion from California’s economy, eliminate $23 billion in annual tax revenue, and severely disrupt key industries such as agriculture, construction, and hospitality. 

    In the face of these mounting challenges, the Governor issued a proclamation to access state reserves. This responsible and balanced budget protects Californians, creates more housing, preserves core programs, reinforces fiscal discipline, and invests in the state’s long-term economic strength.

    The Governor today announced signing the following bills:

    • AB 102 by Assemblymember Jesse Gabriel (D-Encino) – Budget Act of 2025.
    • AB 118 by the Committee on Budget – Human services.
    • AB 121 by the Committee on Budget – Education finance: education omnibus budget trailer bill.
    • AB 123 by the Committee on Budget – Higher education budget trailer bill.
    • AB 134 by the Committee on Budget – Public Safety.
    • AB 136 by the Committee on Budget – Courts.
    • AB 143 by the Committee on Budget – Developmental services.
    • SB 101 by the Senator Scott Wiener (D-San Francisco) – Budget Act of 2025.
    • SB 103 by the Senator Scott Wiener (D-San Francisco) – Budget Acts of 2022, 2023, and 2024.
    • SB 120 by the Committee on Budget and Fiscal Review – Early childhood education and childcare.
    • SB 124 by the Committee on Budget and Fiscal Review – Public resources trailer bill.
    • SB 127 by the Committee on Budget and Fiscal Review – Climate change.
    • SB 128 by the Committee on Budget and Fiscal Review – Transportation.
    • SB 132 by the Committee on Budget and Fiscal Review – Taxation.
    • SB 141 by the Committee on Budget and Fiscal Review – California Cannabis Tax Fund: Department of Cannabis Control: Board of State and Community Corrections grants.
    • SB 142 by the Committee on Budget and Fiscal Review – Deaf and Disabled Telecommunications Program.

    The Governor’s signature on the state budget is contingent on the enactment of either AB 131 or SB 131 on Monday, June 30th.

    Para leer este comunicado en español, haga clic aquí.

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    MIL OSI USA News –

  • Govt drafts emission targets for over 460 industries under carbon market plan

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Environment has issued a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units as part of India’s first compliance-based carbon market.

    The move, aimed at curbing industrial emissions and accelerating decarbonisation, will apply to sectors such as aluminium, iron and steel, petroleum refining, petrochemicals, and textiles.

    Titled the Greenhouse Gas Emission Intensity Target Rules, 2025, the draft, dated June 23, forms part of the Carbon Credit Trading Scheme (CCTS), 2023.

    The scheme requires designated industries – referred to as “obligated entities” – to reduce their GHG emissions per unit of output over time, or compensate by purchasing carbon credit certificates from the Indian Carbon Market.

    According to the draft, “The obligated entity shall achieve the Greenhouse Gases Emissions Intensity (GEI) targets in the respective compliance year… or meet its GEI target by purchasing carbon credit certificates from the Indian carbon market.”

    If implemented, the targets will become legally enforceable from the date of final notification.

    As per the draft, failure to comply will attract financial penalties and legal consequences under the Environment (Protection) Act, 1986.

    The targets will be assigned for two compliance years – 2025-26 and 2026-27 – based on baseline emission intensity data from 2023-24.

    The draft includes a list of 264 industrial units along with their baseline emission levels and reduction targets for the compliance years 2025-26 and 2026-27.

    The Bureau of Energy Efficiency (BEE) will determine these targets using sectoral benchmarks and past performance. Greenhouse gas emission intensity (GEI) is defined as tonnes of CO2 equivalent emitted per unit of output or product.

    For example, Hindalco Industries’ Taloja aluminium plant in Maharashtra, which had a baseline GEI of 1.3386 tCO2 per tonne in 2023-24, must reduce that figure to 1.2563 by 2026-27. In the steel sector, Arcelor Mittal Nippon Steel India’s Hazira facility – India’s largest obligated entity by production volume – must cut its emission intensity from 2.2701 to 2.1696 tCO2 per tonne during the same period.

    The rules also cover the petroleum refining sector. BPCL’s Bina Refinery in Madhya Pradesh, with a crude throughput of over 51 million barrels, has been assigned a GEI reduction trajectory from 5.2312 tCO2/MBBLS in 2023-24 to 4.8553 by 2026-27. BPCL’s Kochi
    Refinery, one of the largest in the country, must bring down its GEI from 4.5745 to 4.4230 tCO2/MBBLS in the same time frame.

    Entities that emit less than their targets will receive carbon credit certificates, calculated as the difference between the GEI target and actual GEI, multiplied by the total production volume.

    Conversely, those exceeding their targets must buy the difference in credits from the Indian Carbon Market. “The number of carbon credit certificates to be issued… shall be determined as per the following formula: (GEI Target – GEI Achieved) x Unit of equivalent product produced,” the draft states.

    Unused credits can be banked for future use, allowing companies some flexibility across compliance years.

    However, if an entity fails to meet its target and does not purchase the required credits, the Central Pollution Control Board (CPCB) will impose an Environmental Compensation.

    This amount will be “equal to twice the average price at which a carbon credit certificate is traded during the trading cycle,” as per the notification. The penalty must be paid within 90 days.

    Funds collected will be used to support carbon market operations, upon recommendation of the National Steering Committee and approval of the Centre.

    The ministry has invited comments, objections, or suggestions from the public and industry stakeholders. Submissions must be made within 60 days of the draft’s publication and can be emailed to ccts.hsm-moefcc@gov.in.

    (ANI)

  • Govt drafts emission targets for over 460 industries under carbon market plan

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Environment has issued a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units as part of India’s first compliance-based carbon market.

    The move, aimed at curbing industrial emissions and accelerating decarbonisation, will apply to sectors such as aluminium, iron and steel, petroleum refining, petrochemicals, and textiles.

    Titled the Greenhouse Gas Emission Intensity Target Rules, 2025, the draft, dated June 23, forms part of the Carbon Credit Trading Scheme (CCTS), 2023.

    The scheme requires designated industries – referred to as “obligated entities” – to reduce their GHG emissions per unit of output over time, or compensate by purchasing carbon credit certificates from the Indian Carbon Market.

    According to the draft, “The obligated entity shall achieve the Greenhouse Gases Emissions Intensity (GEI) targets in the respective compliance year… or meet its GEI target by purchasing carbon credit certificates from the Indian carbon market.”

    If implemented, the targets will become legally enforceable from the date of final notification.

    As per the draft, failure to comply will attract financial penalties and legal consequences under the Environment (Protection) Act, 1986.

    The targets will be assigned for two compliance years – 2025-26 and 2026-27 – based on baseline emission intensity data from 2023-24.

    The draft includes a list of 264 industrial units along with their baseline emission levels and reduction targets for the compliance years 2025-26 and 2026-27.

    The Bureau of Energy Efficiency (BEE) will determine these targets using sectoral benchmarks and past performance. Greenhouse gas emission intensity (GEI) is defined as tonnes of CO2 equivalent emitted per unit of output or product.

    For example, Hindalco Industries’ Taloja aluminium plant in Maharashtra, which had a baseline GEI of 1.3386 tCO2 per tonne in 2023-24, must reduce that figure to 1.2563 by 2026-27. In the steel sector, Arcelor Mittal Nippon Steel India’s Hazira facility – India’s largest obligated entity by production volume – must cut its emission intensity from 2.2701 to 2.1696 tCO2 per tonne during the same period.

    The rules also cover the petroleum refining sector. BPCL’s Bina Refinery in Madhya Pradesh, with a crude throughput of over 51 million barrels, has been assigned a GEI reduction trajectory from 5.2312 tCO2/MBBLS in 2023-24 to 4.8553 by 2026-27. BPCL’s Kochi
    Refinery, one of the largest in the country, must bring down its GEI from 4.5745 to 4.4230 tCO2/MBBLS in the same time frame.

    Entities that emit less than their targets will receive carbon credit certificates, calculated as the difference between the GEI target and actual GEI, multiplied by the total production volume.

    Conversely, those exceeding their targets must buy the difference in credits from the Indian Carbon Market. “The number of carbon credit certificates to be issued… shall be determined as per the following formula: (GEI Target – GEI Achieved) x Unit of equivalent product produced,” the draft states.

    Unused credits can be banked for future use, allowing companies some flexibility across compliance years.

    However, if an entity fails to meet its target and does not purchase the required credits, the Central Pollution Control Board (CPCB) will impose an Environmental Compensation.

    This amount will be “equal to twice the average price at which a carbon credit certificate is traded during the trading cycle,” as per the notification. The penalty must be paid within 90 days.

    Funds collected will be used to support carbon market operations, upon recommendation of the National Steering Committee and approval of the Centre.

    The ministry has invited comments, objections, or suggestions from the public and industry stakeholders. Submissions must be made within 60 days of the draft’s publication and can be emailed to ccts.hsm-moefcc@gov.in.

    (ANI)

  • Govt drafts emission targets for over 460 industries under carbon market plan

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Environment has issued a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units as part of India’s first compliance-based carbon market.

    The move, aimed at curbing industrial emissions and accelerating decarbonisation, will apply to sectors such as aluminium, iron and steel, petroleum refining, petrochemicals, and textiles.

    Titled the Greenhouse Gas Emission Intensity Target Rules, 2025, the draft, dated June 23, forms part of the Carbon Credit Trading Scheme (CCTS), 2023.

    The scheme requires designated industries – referred to as “obligated entities” – to reduce their GHG emissions per unit of output over time, or compensate by purchasing carbon credit certificates from the Indian Carbon Market.

    According to the draft, “The obligated entity shall achieve the Greenhouse Gases Emissions Intensity (GEI) targets in the respective compliance year… or meet its GEI target by purchasing carbon credit certificates from the Indian carbon market.”

    If implemented, the targets will become legally enforceable from the date of final notification.

    As per the draft, failure to comply will attract financial penalties and legal consequences under the Environment (Protection) Act, 1986.

    The targets will be assigned for two compliance years – 2025-26 and 2026-27 – based on baseline emission intensity data from 2023-24.

    The draft includes a list of 264 industrial units along with their baseline emission levels and reduction targets for the compliance years 2025-26 and 2026-27.

    The Bureau of Energy Efficiency (BEE) will determine these targets using sectoral benchmarks and past performance. Greenhouse gas emission intensity (GEI) is defined as tonnes of CO2 equivalent emitted per unit of output or product.

    For example, Hindalco Industries’ Taloja aluminium plant in Maharashtra, which had a baseline GEI of 1.3386 tCO2 per tonne in 2023-24, must reduce that figure to 1.2563 by 2026-27. In the steel sector, Arcelor Mittal Nippon Steel India’s Hazira facility – India’s largest obligated entity by production volume – must cut its emission intensity from 2.2701 to 2.1696 tCO2 per tonne during the same period.

    The rules also cover the petroleum refining sector. BPCL’s Bina Refinery in Madhya Pradesh, with a crude throughput of over 51 million barrels, has been assigned a GEI reduction trajectory from 5.2312 tCO2/MBBLS in 2023-24 to 4.8553 by 2026-27. BPCL’s Kochi
    Refinery, one of the largest in the country, must bring down its GEI from 4.5745 to 4.4230 tCO2/MBBLS in the same time frame.

    Entities that emit less than their targets will receive carbon credit certificates, calculated as the difference between the GEI target and actual GEI, multiplied by the total production volume.

    Conversely, those exceeding their targets must buy the difference in credits from the Indian Carbon Market. “The number of carbon credit certificates to be issued… shall be determined as per the following formula: (GEI Target – GEI Achieved) x Unit of equivalent product produced,” the draft states.

    Unused credits can be banked for future use, allowing companies some flexibility across compliance years.

    However, if an entity fails to meet its target and does not purchase the required credits, the Central Pollution Control Board (CPCB) will impose an Environmental Compensation.

    This amount will be “equal to twice the average price at which a carbon credit certificate is traded during the trading cycle,” as per the notification. The penalty must be paid within 90 days.

    Funds collected will be used to support carbon market operations, upon recommendation of the National Steering Committee and approval of the Centre.

    The ministry has invited comments, objections, or suggestions from the public and industry stakeholders. Submissions must be made within 60 days of the draft’s publication and can be emailed to ccts.hsm-moefcc@gov.in.

    (ANI)

  • India’s overseas financial assets see robust growth in FY25, RBI data shows

    Source: Government of India

    Source: Government of India (4)

    India recorded a notable expansion in its overseas financial assets during the financial year 2024–25, largely driven by stronger overseas direct investments, higher holdings in currency and deposits, and a rise in reserve assets, according to the latest data released by the Reserve Bank of India (RBI).

    More than 72 per cent of the total increase in India’s foreign financial assets came from these three components, with reserve assets alone contributing over half the growth. The central bank noted that currency and deposits, along with direct investments abroad, also made significant contributions to this expansion.

    “Over 72 per cent of the rise in India’s overseas financial assets was due to an increase in overseas direct investment, currency and deposits,” the RBI said.

    In absolute terms, India’s total external financial assets rose by USD 105.4 billion during FY25. By contrast, the country’s external financial liabilities increased by USD 74.2 billion. This resulted in net claims of non-residents on India declining by USD 31.2 billion over the year.

    The RBI report pointed out that this decline was largely due to a sharper increase in Indian residents’ overseas financial assets—up by USD 60.0 billion—compared to the rise in foreign-owned assets in India, which stood at USD 25.8 billion during the January–March 2025 quarter.

    Reflecting this trend, the ratio of India’s international financial assets to its international financial liabilities improved to 77.5 per cent in March 2025, up from 74.1 per cent a year earlier. This indicates a strengthening of India’s external financial position, offering greater stability in the country’s balance of payments.

    On the liability side, inward direct investments, loans, and currency and deposits remained key drivers. Inward direct investment and loans together made up more than three-fourths of the rise in foreign liabilities of Indian residents in the January–March 2025 period. Loans increased by USD 10.0 billion, while inward direct investments rose by USD 9.7 billion during the quarter.

    -ANI

  • India’s overseas financial assets see robust growth in FY25, RBI data shows

    Source: Government of India

    Source: Government of India (4)

    India recorded a notable expansion in its overseas financial assets during the financial year 2024–25, largely driven by stronger overseas direct investments, higher holdings in currency and deposits, and a rise in reserve assets, according to the latest data released by the Reserve Bank of India (RBI).

    More than 72 per cent of the total increase in India’s foreign financial assets came from these three components, with reserve assets alone contributing over half the growth. The central bank noted that currency and deposits, along with direct investments abroad, also made significant contributions to this expansion.

    “Over 72 per cent of the rise in India’s overseas financial assets was due to an increase in overseas direct investment, currency and deposits,” the RBI said.

    In absolute terms, India’s total external financial assets rose by USD 105.4 billion during FY25. By contrast, the country’s external financial liabilities increased by USD 74.2 billion. This resulted in net claims of non-residents on India declining by USD 31.2 billion over the year.

    The RBI report pointed out that this decline was largely due to a sharper increase in Indian residents’ overseas financial assets—up by USD 60.0 billion—compared to the rise in foreign-owned assets in India, which stood at USD 25.8 billion during the January–March 2025 quarter.

    Reflecting this trend, the ratio of India’s international financial assets to its international financial liabilities improved to 77.5 per cent in March 2025, up from 74.1 per cent a year earlier. This indicates a strengthening of India’s external financial position, offering greater stability in the country’s balance of payments.

    On the liability side, inward direct investments, loans, and currency and deposits remained key drivers. Inward direct investment and loans together made up more than three-fourths of the rise in foreign liabilities of Indian residents in the January–March 2025 period. Loans increased by USD 10.0 billion, while inward direct investments rose by USD 9.7 billion during the quarter.

    -ANI

  • MIL-OSI USA: Governor Newsom signs balanced state budget that cuts taxes for vets, fully funds free school meals, builds more housing, & creates jobs

    Source: US State of California 2

    Jun 27, 2025

    ✅ FUNDED: Tax cut for military retirees

    ✅ FUNDED: Universal pre-kindergarten for all 

    ✅ FUNDED: Expanded before school, after school, & summer school

    ✅ FUNDED: Free school meals for all kids 

    ✅ FUNDED: Game-changing literacy & reading investments

    ✅ FUNDED: Building more housing, ASAP

    ✅ FUNDED: Lowering drug costs

    ✅ FUNDED: Expanding medication abortion access with CalRx

    ✅ FUNDED: Historic firefighting & public safety investments

    ✅ FUNDED: Protecting California’s iconic film industry

    Signing of landmark package to cut red tape, fast-track housing, and infrastructure forthcoming  

    SACRAMENTO – Amid Donald Trump’s economic assault on California, Governor Gavin Newsom today signed the 2025 state budget bill advanced in partnership with Senate President pro Tempore Mike McGuire and Speaker Robert Rivas. Together, the Governor and Legislature are enacting a responsible, balanced spending plan that safeguards California’s values while maintaining long-term fiscal health. This budget and forthcoming trailer bills include new, landmark policies that will accelerate housing production and boost affordability in communities across the state — addressing California’s most urgent challenges.

    As we confront Donald Trump’s economic sabotage, this budget agreement proves California won’t just hold the line — we’ll go even further. It’s balanced, it maintains substantial reserves, and it’s focused on supporting Californians — slashing red tape and catapulting housing and infrastructure development, preserving essential healthcare services, funds universal pre-K, and cuts taxes for veterans.

    Governor Gavin Newsom

    Pro Tem Mike McGuire says: “The State is delivering a responsible on-time budget in a challenging year focused on fiscal restraint and investing in the people and programs that make this State great. This budget prioritizes record funding for our kids and public schools, protects access to health care for millions of the most vulnerable, and will create more housing at a scale not seen in years. Thanks to this budget agreement, the state will help get more folks off the streets and into permanent shelter, and we’ll expand the ranks of CalFire, deploying hundreds of additional full-time CalFire firefighters, which will save lives and make us all more wildfire safe. And this agreement helps prepare our state for the ongoing chaos and massive uncertainty caused by the Trump administration. Thank you to our Senate Budget Chair Scott Wiener, Speaker Rivas and Governor Newsom and their staffs for their hard work for the people of California.”

    Speaker Robert Rivas says: “This is an incredibly difficult time for Californians. Trump is undermining our economy with reckless tariffs, harsh cuts, and ICE agents terrorizing our communities. At a moment when so many are already struggling, he’s adding fear and instability. In contrast, Democrats have delivered a budget that protects California. It cuts red tape to build more housing faster — because housing is the foundation of affordability and opportunity. It preserves critical investments in health care, women’s health, education, and public safety. And it honors our commitment not to raise taxes on families, workers, or small businesses. In unprecedented times, under painful circumstances, Democrats are delivering for Californians.”

    Tax cuts for vets, smaller class sizes, free school meals

    The budget reflects a shared commitment to protect opportunity and improve affordability in California, in the face of targeted attacks by the Trump administration. The budget makes historic investments in public education — from universal transitional kindergarten and free school meals to expanded before and after-school programs, summer school, smaller class sizes, and strengthened career training and higher education. The budget demonstrates the state’s commitment to honoring veterans by creating tax cuts for military retirees, recognizing their service and supporting their financial security. 

    Lowering prescription drug costs, protecting reproductive care, and safety nets 

    The budget preserves key health care programs for Californians targeted by Republicans. It preserves vital safety net programs, including in-home supportive services and women’s reproductive health. As part of the budget, the Governor is also expected to sign legislation protecting access to health care, license and regulate Pharmacy Benefit Managers for the first time, increasing transparency and accountability in the pharmacy supply chain. The legislation also expands CalRx’s authority to procure brand-name drugs and respond to politically motivated supply disruptions, helping shield access to critical medications like mifepristone.

    Lights, camera, JOBS

    The budget protects California’s position as the 4th largest economy in the world – supporting business and continued economic growth, including California’s iconic film industry. Next week, the Governor is expected to sign additional legislation as part of the expansion of the film and TV tax credit program — further catapulting the program’s impact to $750 million a year.

    Trump’s economic assault

    The balanced budget comes as California continues to confront significant fiscal pressures fueled by the Trump administration’s reckless economic and immigration policies. According to the California Department of Finance, Trump’s tariff regime is projected to cost the state an estimated $16 billion in lost General Fund revenue through the next fiscal year. And a new study released June 17 by the Bay Area Council Economic Institute, in collaboration with UC Merced, found that Trump’s mass deportations could slash $275 billion from California’s economy, eliminate $23 billion in annual tax revenue, and severely disrupt key industries such as agriculture, construction, and hospitality. 

    In the face of these mounting challenges, the Governor issued a proclamation to access state reserves. This responsible and balanced budget protects Californians, creates more housing, preserves core programs, reinforces fiscal discipline, and invests in the state’s long-term economic strength.

    The Governor today announced signing the following bills:

    • AB 102 by Assemblymember Jesse Gabriel (D-Encino) – Budget Act of 2025.
    • AB 118 by the Committee on Budget – Human services.
    • AB 121 by the Committee on Budget – Education finance: education omnibus budget trailer bill.
    • AB 123 by the Committee on Budget – Higher education budget trailer bill.
    • AB 134 by the Committee on Budget – Public Safety.
    • AB 136 by the Committee on Budget – Courts.
    • AB 143 by the Committee on Budget – Developmental services.
    • SB 101 by the Senator Scott Wiener (D-San Francisco) – Budget Act of 2025.
    • SB 103 by the Senator Scott Wiener (D-San Francisco) – Budget Acts of 2022, 2023, and 2024.
    • SB 120 by the Committee on Budget and Fiscal Review – Early childhood education and childcare.
    • SB 124 by the Committee on Budget and Fiscal Review – Public resources trailer bill.
    • SB 127 by the Committee on Budget and Fiscal Review – Climate change.
    • SB 128 by the Committee on Budget and Fiscal Review – Transportation.
    • SB 132 by the Committee on Budget and Fiscal Review – Taxation.
    • SB 141 by the Committee on Budget and Fiscal Review – California Cannabis Tax Fund: Department of Cannabis Control: Board of State and Community Corrections grants.
    • SB 142 by the Committee on Budget and Fiscal Review – Deaf and Disabled Telecommunications Program.

    The Governor’s signature on the state budget is contingent on the enactment of either AB 131 or SB 131 on Monday, June 30th.

    Para leer este comunicado en español, haga clic aquí.

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