Manchester, June 28, 2025 (GLOBE NEWSWIRE) — Amid declining trust in centralized platforms and increasing market volatility, more crypto investors are turning to hardware-free, automated solutions for passive income. SunnyMining today announced the launch of its next-generation AI-powered cloud mining system, designed to help users earn stable daily returns from leading assets such as BTC, DOGE, and XRP.
According to information officially provided by SunnyMining, the new generation of AI cloud mining system is built based on intelligent computing power scheduling and automatic contract execution, aiming to provide predictable and stable daily cryptocurrency returns, suitable for individual and institutional investors. The core advantages of the platform include: Predictable daily income: fixed return structure, users can view dashboard data in real time No equipment deployment required: no mining machine, no settings, zero threshold for operation Automatic return of principal: the system returns the initial investment after the contract ends Low threshold starting investment: only $100 to start, suitable for users of different levels Support multi-currency configuration: flexibly select mainstream assets such as BTC, DOGE, XRP, etc. AI intelligent scheduling optimization: dynamically adjust mining efficiency to adapt to market changes In addition, SunnyMining provides a $15 reward for newly registered users, which can be used to directly experience the cloud mining service without the need to recharge or configure equipment, and daily income can be started with zero threshold.
SunnyMining cloud mining operation process:
Register an account: Create an account immediately and receive new member rewards Start mining: Select a suitable plan, the system will automatically run and distribute income daily
Check progress: Real-time dashboard tracks income and returns, no equipment configuration required The launch of the new system marks a new stage for SunnyMining in the field of AI cloud mining, providing a more efficient and automated solution for global users who want to obtain stable returns. About SunnyMining Founded in 2019 and headquartered in Manchester, UK, SunnyMining is a technology platform focusing on AI cloud mining, dedicated to providing stable and automated daily cryptocurrency income to users around the world. It supports multi-currency mining and focuses on building a cloud mining ecosystem that is transparent, user-friendly, compliant and reliable, helping users to easily participate in the crypto economy.
For media inquiries, please contact: SunnyMining info@sunnymining.com 50 Liverpool Street Salford, Manchester, United Kingdom, M5 4LT https://sunnymining.com/
London, UK, June 28, 2025 (GLOBE NEWSWIRE) — – BTCMiner, an FCA-certified smart cloud mining platform founded in 2009, today announced its commitment to providing a safe and stable passive income environment for cryptocurrency enthusiasts. The platform’s notable feature is its innovative contract structure, which is designed to protect principal and interest, providing predictable returns regardless of market price fluctuations.
“For 15 years, BTCMiner has been committed to demystifying cryptocurrency mining and making it easy and reliable for everyone to mine,” said a BTCMiner spokesperson. “Our core principle is to provide a platform where users can invest with peace of mind.
BTCMiner’s main advantages: Principal and interest stability: BTCMiner’s contracts are designed to protect investment security and ensure the return of principal and specified interest when the contract expires, thereby mitigating the impact of market price fluctuations.
Rich contract options and daily income: BTCMiner supports one-click orders across multiple cryptocurrencies. Profits are settled and credited to user accounts every 24 hours, ensuring continuous transparency of income.
Exclusive invitation rewards: Users can further increase their income through BTCMiner’s generous referral program. By sharing personal invitation links on social media, users can receive real-time rewards, 7% for first-level referrals and 2% for second-level referrals.
BTCMiner continues to advocate for the future of digital asset investment, making digital asset investment convenient, clearly regulated and strongly secure, helping individuals achieve their financial goals in the growing cryptocurrency field.
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
Tashkent, June 28 (Xinhua) — In the context of global challenges related to climate change and ecosystem degradation, combating desertification and promoting a “green” transition have become the most important state tasks for Uzbekistan, Dean of the Faculty of Economics of the Berdakh Karakalpak State University, Associate Professor Kishibay Kudiyarov said in an interview with Xinhua.
According to him, against the backdrop of the Aral Sea environmental crisis, the country is deeply aware that environmental safety is an integral part of national security. In this key area, China is seen as a reliable partner with valuable practical experience in green technologies, environmental management and sustainable development.
“In recent years, Uzbekistan and other Central Asian countries have made significant progress in cooperation with China in combating desertification and restoring vegetation,” the expert noted. In particular, in the Aral Sea region, experts from the two countries are jointly conducting research, introducing technologies for planting salt-resistant plants and adaptive agriculture. These measures not only improve the environmental situation, but also contribute to raising the standard of living of the population, confirming the sustainability of the “green” partnership.
K. Kudiyarov emphasized that a new agenda of “green” interaction is being formed within the framework of the “Belt and Road” initiative between the Central Asian countries and China. He drew attention to the development of wind and solar energy projects, as well as the growing interest in investing in “green” finance and environmental initiatives. All this contributes to the region’s transition to a low-carbon and sustainable development model.
The expert also noted that the concept of “ecological civilization” promoted by China has acquired special significance and has become an example for the entire region. China’s “green” development model not only serves as a guideline in the field of environmental protection, but also provides Central Asian countries with effective tools for achieving a balance between economic growth and nature conservation,” he emphasized.
Optimistically assessing the prospects for further cooperation, K. Kudiyarov expressed Uzbekistan’s readiness for even deeper institutional interaction with China in the fight against desertification and promoting the “green” transition. “Whether it is scientific cooperation, the development of regional standards or environmental education, we are ready to promote the construction of the “green” Silk Road” together with China and contribute to environmental safety and sustainable development of the entire Central Asian region,” he concluded. -0-
A pipeline of programmes to build entrepreneurial ambition, capability and networks for Scotland’s current and future entrepreneurs will be delivered with investment from the Scottish Government’s Ecosystem Fund.
A total of 28 projects will deliver initiatives in 2025/26. They range from inspiring school pupils to helping businesses realise international growth.
They include:
Women’s Enterprise Scotland, offering a 10-week programme for women entrepreneurs to address women’s constrained access to finance.
Galashiels Soup, which will offer community micro-grant events in Scottish Borders
SGDA Games Accelerator, Scotland’s first games-specific accelerator to address the unique challenges faced by games companies in product development, financing and marketing.
A new, fully digital application process used by the Fund’s delivery partner, Inspirent, this year means that awards have been made just a few weeks after more than 300 applications were received, meaning programmes can be delivered sooner and for longer during the financial year.
Nearly £100,000 of additional funding has been awarded to projects in response to demand to the Fund.
Deputy First Minister Kate Forbes said:
“Scotland has always been a nation of innovators and these projects will build the infrastructure, networks and support systems that our entrepreneurs need to thrive, creating lasting change that goes far beyond individual businesses.
“The Ecosystem Fund sits at the heart of the Scottish Government’s £30 million record investment in entrepreneurship – the biggest commitment we’ve ever made to establishing Scotland as one of Europe’s leading start-up economies.
“The exceptional response to this year’s Fund demonstrates the vibrant entrepreneurial energy that exists across Scotland. I am proud not just to be supporting projects, but investing in the entrepreneurial talent that is the backbone of our economy.”
Chief Entrepreneur Ana Stewart said:
“It’s extremely encouraging to see the quality and diversity of applications received. What’s particularly reassuring is to see the new digitised process working effectively, streamlining and achieving a shorter and simpler process for applicants ensuring funds reach them much earlier. This is the fastest turnaround the Scottish Government has achieved to date, reflecting a more responsive, agile approach.
“The successful projects will deliver targeted support that founders need in the earliest stages of their business. From accessible business training and mentorship programmes, to networks that connect entrepreneurs across Scotland’s regions and sectors. Moving forward, the commitment is to work more closely with partners across our entrepreneurial ecosystem to ensure public sector support delivers maximum impact for Scottish founders.”
The Isle of Arran Candle Company Ltd – Arran – Arran Design Collective – £9,500.00
University of Strathclyde – Glasgow – From Sanctuary to Start up: supporting Refugees, Asylum Seekers and New Scots in navigating and thriving in Scotland’s startup ecosystem – £9,750.00
Scotpreneur Ltd – Online – The Entrepreneur’s A to Z: An Audio Guide for the Blind and Visually Impaired – £14,250.00
SINGAPORE, June 28, 2025 (GLOBE NEWSWIRE) — BexBack, a rapidly growing crypto derivatives exchange, has announced a limited-time promotional campaign offering new users a $50 welcome bonus and a 100% deposit match when they join the platform. Amid renewed volatility in the crypto market, the campaign aims to help retail traders take advantage of 100x leveraged futures trading with zero KYC requirements. The offer is available now for a short window, providing users with an accessible, high-reward opportunity to capitalize on market momentum.
Whether you’re aiming to capitalize on Bitcoin’s price swings or tap into the momentum of emerging altcoins, BexBack empowers every trader with institutional-grade tools and unmatched promotional offers.
Why 100x Leverage Matters in Today’s Market
In times of uncertainty, leverage transforms small price moves into big opportunities. With 100x leverage, traders can:
Multiply Profit Potential: Open positions worth 100x your initial margin, significantly amplifying gains.
Maximize Capital Efficiency: Put less in, get more out. Keep the rest of your capital flexible.
Trade Both Directions: Go long or short. Make profits whether prices rise or fall.
Respond Quickly: High-frequency opportunities become viable with minimal capital.
Level the Playing Field: Retail traders now have access to strategies once reserved for institutions.
A Real Example: How 100x Leverage Boosts ROI
Let’s say Bitcoin is priced at $100,000. You open a long position with 1 BTC using 100x leverage—equivalent to $10 million in market exposure. If BTC rises to $105,000:
Your profit is 5 BTC, or 500% ROI on your initial margin.
With BexBack’s 100% deposit bonus, your trading power doubles, potentially increasing that profit to 10 BTC—a 1000% return.
Note: Leverage can amplify both gains and losses. Always manage risk wisely.
How the BexBack Bonuses Work
100% Deposit Bonus: Double your margin power. The bonus is credited to your account and usable for trading and loss coverage.
$50 Welcome Bonus: New users who make their first deposit (More than 100 USDT or 0.001 BTC) and trade within 7 days will receive an instant $50 credit in their USDT-M account.
No KYC Required: Sign up, deposit, and start trading within minutes—no complex verification needed.
Why Choose BexBack?
BexBack is a next-generation crypto derivatives exchange trusted by over 500,000 global traders, offering futures contracts on BTC, ETH, XRP, ADA, SOL, and 50+ top assets. With headquarters in Singapore and operations in Hong Kong, Japan, the U.S., the U.K., and Argentina, BexBack is fully licensed with a U.S. MSB (Money Services Business) registration.
Key Highlights:
100x Leverage across all major cryptocurrencies
100% Deposit Bonus with no hidden fees
$50 Welcome Bonus for new users
No KYC Required — Privacy-first trading
Zero Deposit Fees — Keep more of your crypto
Demo Account with 10 BTC for practice
No Spread, No Slippage — Just precise execution
Available Worldwide, including the U.S., Canada, and Europe
24/7 Multilingual Support — Real humans, real fast
Up to 50% Commission for Affiliates — Invite & earn
Join the Next Wave of Crypto Success
The crypto market waits for no one. If you missed the last bull run, now is the time to get ahead. With BexBack’s cutting-edge features and unbeatable offers, every trader—from beginner to pro—can trade like a whale.
Sign Up Now on BexBack — Break the 100x Leverage and KYC Barriers, Get Double Deposit Bonus and $50 Welcome Bonus Instantly
Disclaimer: This content is provided by BexBackThe statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
LOS ANGELES, June 28, 2025 (GLOBE NEWSWIRE) — As XRP edges closer to a major price breakout, investors are flocking to leading AI-driven cloud mining platform PFMCrypto, drawn by surging demand for its newly launched XRP mining contracts. Market analysts anticipate a bullish phase for XRP, and PFMCrypto’s innovative solution offers investors a low-barrier, high-efficiency way to capitalize on the expected upside.
Why PFMCrypto’s XRP Mining Is Gaining Massive Traction While XRP’s market performance continues to dominate headlines, PFMCrypto has emerged as a game-changer in the XRP ecosystem by offering AI-optimized cloud mining contracts with flexible terms and stable returns. The platform eliminates the need for expensive hardware, making XRP mining accessible to both seasoned investors and beginners alike. Within just a few weeks of launch, demand for PFMCrypto’s short-term XRP mining contracts has soared. User registration has jumped by over 380%, with 2-day, 5-day, 15-day, and 30-day contracts proving especially popular among those looking to maximize gains ahead of XRP’s anticipated surge.
PFMCrypto’s XRP Mining Contracts — Flexible, Daily-income The platform offers over 10 different XRP mining contract options, allowing users to select plans that match their budget and financial objectives: $100 XRP Plan – 2-Day Term – Earn $3.00 per day (plus a $2 bonus) $1,000 XRP Plan – 9-Day Term – Earn $13.10 per day $5,000 XRP Plan – 30-Day Term – Earn $78.50 per day $10,000 XRP Plan – 40-Day Term – Earn $180.00 per day Unlike speculative investments, PFMCrypto’s AI-driven mining model delivers consistent daily income, with full capital refunded at the end of each contract—offering both liquidity and capital protection.
What Makes PFMCrypto Stand Out in XRP Mining – No Hardware Required: Users can rent industrial-grade hash power from PFMCrypto’s network with zero setup or equipment. – Zero Maintenance Costs: All electricity, repairs, and operational overhead are fully covered by PFMCrypto. – Beginner-Friendly: No tech knowledge needed. Users simply register and select a plan. New users receive a $10 welcome bonus instantly. – Daily Withdrawals & Capital Protection: Daily earnings can be withdrawn anytime, and the initial investment is fully refunded at contract maturity—ensuring both potential profits and safety.
A Trusted Leader in Cloud Mining Since 2018, PFMCrypto has served over 9.2 million users across 192 countries and regions, offering cloud mining services for BTC, ETH, LTC, DOGE, and SOL. The launch of XRP mining contracts further strengthens its position as the platform of choice for crypto investors seeking low-risk, high-reward opportunities.
How to Start XRP Mining with PFMCrypto 1. Register – Sign up to receive a $10 welcome bonus and daily login rewards. Click here to register an account. 2. Choose a Plan – Choose a mining contract that meets each user’s investment goals. 3. Earn Passively – Let PFMCrypto’s AI-powered system handle the mining and optimize returns. With XRP’s breakout around the corner, PFMCrypto offers a perfect entry point to profit from the upside—without the complexity of traditional mining.
About PFMCrypto Founded in 2018, PFMCrypto is an AI-powered cloud mining platform that removes technical and financial barriers to crypto mining. Committed to transparency, ease of use, and capital protection, PFMCrypto offers one of the most scalable and reliable mining ecosystems in the crypto space. Learn more and join now:https://pfmcrypto.net
The shareholders of the African Export-Import Bank (Afreximbank) (www.Afreximbank.com) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution. He becomes the fourth President to lead the Bank since its establishment in 1993.
His appointment was one of the key decisions of the 32nd Afreximbank group annual meetings and associated events held in Abuja, Nigeria, from 25 to 28 June, with the formal annual general meeting of shareholders taking place on Saturday, 28 June 2025.
He succeeds Professor Benedict Oramah, who has served as President and Chairman of the Board of Directors since 2015, and who will be stepping down in September 2025.
A Cameroonian national, George Elombi has been with Afreximbank since 1996, joining as a Legal Officer. He rose through the ranks to become Executive Vice President, Governance, Legal and Corporate Services. Over his nearly three decades at the Bank, he has served as Director and Executive Secretary (2010–2015); Deputy Director, Legal Services / Executive Secretary (2008–2010); Chief Legal Officer (2003–2008); and Senior Legal Officer (2001–2003).
Prior to joining Afreximbank, he taught law at the University of Hull, United Kingdom.
Dr. Elombi played a pivotal role in establishing Afreximbank group’s structure, including the formation of key subsidiaries that have expanded the Bank’s capacity to deliver on its mandate. As Chair of the Emergency Response Committee, he led the Bank’s response to the COVID-19 crisis, mobilising over $2 billion for vaccine acquisition and deployment across African and Caribbean nations. Under his supervision of the Equity Mobilisation and Investor Relations department, the Bank’s total ordinary equity mobilised amounted to USD 3.6 billion as at April 2025.
In his acceptance speech, Dr. Elombi expressed a deep commitment to the Bank’s mission and future, stating:
“I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution’s vision, its mandate as well as its growth. As we look to the future, I see Afreximbank as a force for industrialising Africa and for re-gaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
He accepted the shareholders’ desire as expressed by his predecessor to make the institution a US$250 billion bank in ten years.
Dr. George Elombi holds a Master of Laws (LL.M.) from the London School of Economics, University of London, and a Ph.D. in commercial arbitration from the same university. He obtained a ‘Maitrise-en-Droit’ from the University of Yaoundé in 1989.
His appointment followed a rigorous selection process initiated in January 2025, which included a global call for applications published in international media and on the Afreximbank website. Shortlisted candidates were interviewed by an international human resource executive search firm. The top candidates were presented to the Board of Directors, which recommended Dr. Elombi to the General Meeting of Shareholders for final approval.
Under the Afreximbank Charter, a president is appointed by the general meeting of shareholders upon the recommendation of the Board of Directors for a term of five years, renewable once.
Distributed by APO Group on behalf of Afreximbank.
Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@afreximbank.com
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About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
TALLINN, Estonia, June 28, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris (BTC-S) has officially passed $5 million in presale funding as it prepares to launch its groundbreaking mobile mining application, Solaris Nova. The app—designed to let anyone mine BTC-S with just a smartphone—is expected to unlock access for thousands of new users globally. With less than six weeks until token launch and growing community buzz, Bitcoin Solaris is positioning itself as one of the most inclusive and high-performance blockchain ecosystems of 2025.
Bitcoin Solaris: Core Features Driving Adoption
Bitcoin Solaris introduces a new standard in accessibility and financial empowerment. The upcoming Solaris Nova app will introduce mobile-first mining to millions who have been priced out of traditional crypto. You won’t need a mining rig or technical know-how—just your smartphone and a few taps. Through the exciting release of this tool, Bitcoin Solaris places the power of wealth generation directly into users’ hands.
But it goes far beyond mining. At its core, BTC-S is engineered around a dual-layer blockchain design that delivers:
Proof-of-Work base layer for robust security
Delegated Proof-of-Stake Solaris Layer for blazing-fast throughput
Up to 10,000 TPS with 2-second finality for real-time transactions
Adaptive energy-efficient mining models to reduce environmental impact
All of it is tied together with seamless multi-chain integration that allows assets to move across ecosystems without friction.
How BTC-S Uses Multi-Chain Architecture to Scale
While most coins struggle with scaling due to monolithic designs, Bitcoin Solaris leverages a smart separation of duties. The base layer handles security and integrity, while the upper Solaris Layer drives transaction throughput. This multi-chain model is further enhanced with validator rotation and a fork-resistant consensus that ensures consistent uptime, performance, and decentralization.
Add to that upcoming bridges for cross-chain asset transfers, and BTC-S is building toward a genuinely interoperable future.
Bitcoin Solaris has already surpassed $5 million in presale funding. Over 12,300 unique users have jumped in, helping position it as one of the most explosive launches this year. And we’re still in phase 9. The current price is just $9. With less than six weeks left before launch, the price is set to rise to $10 next, then hit $20 at launch. That’s a built-in potential 150 percent return, and it’s fueling a frenzy.
This is one of the shortest presales in crypto history. And it’s gaining momentum fast.
Bitcoin Solaris is not just about tech—it’s about access. Anyone, anywhere, can now mine from their phone through a built-in mining calculator and earn real value. The barrier to entry has never been lower, creating a new class of empowered crypto participants.
Security is locked in with full audits by Cyberscope and Freshcoins. Transparency, speed, and utility are finally meeting in one powerful package.
Even its social momentum is undeniable. The Telegram and X communities are surging with new users daily, echoing the excitement.
Final Verdict: This Is What the Next Crypto Titan Looks Like
Bitcoin Solaris is engineered for 2025 and beyond. With a performance layer built for DeFi, real-world usability, and mobile-first wealth tools, BTC-S checks every box. Multi-chain integration, institutional-grade throughput, and a community-powered launch are placing it in a category of its own.
With one of the shortest and most explosive presales to date, and a growing army of supporters, Bitcoin Solaris is no longer a hidden gem—it’s quickly becoming a model for the next generation of blockchain innovation.
Disclaimer:This content is provided byBitcoin Solaris. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented.We do not guarantee any claims, statements, or promises made in this article.This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital.It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Los Angeles, California, June 28, 2025 (GLOBE NEWSWIRE) — With increased price volatility in major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), global investors are seeking more flexible and intelligent participation methods. Today, BAY Miner announced a comprehensive platform upgrade, officially expanding its cloud mining support to include BTC, SOL, XRP, DOGE, ETH, and LTC. The upgrade also introduces an AI-powered computing power allocation system, enhancing user experience and long-term earning potential.
Increased Cryptocurrency Market Volatility Focuses Global Investor Attention on Cloud Mining
According to reports from multiple crypto financial media, Bitcoin is currently in a critical range of fluctuations, with short-term support and resistance strongly intertwined. Solana and XRP are volatile due to ecological updates and cross-chain applications, respectively. With market uncertainty, more and more crypto investors are turning their attention to the “low-cost, high-stability” cloud mining method, using smart contracts to participate in the mining process and avoid the investment risks of traditional mining equipment.
Core Highlights of BAY Miner Cloud Mining
BAY Miner focuses on compliance, security and intelligent allocation technology, and is committed to providing new and old users with a transparent and efficient digital asset value-added channel. This product upgrade mainly includes:
– Six major currency support: Full support for BTC, ETH, SOL, XRP, DOGE, LTC cloud mining contracts
– AI computing power intelligent allocation system: The platform can adjust the allocation strategy according to the real-time computing power and currency price on the chain to optimize the output efficiency
– Convenient operation on the mobile terminal: Users can view the income and contract status in real time through the APP, and support reinvestment or withdrawal
– Low threshold participation experience: No need to purchase mining machines or bear the cost of electricity maintenance, new users can familiarize themselves with the process through trial contracts.
How BAY Miner Works
Account Creation: Users register through the BAY Miner website or app.
Contract Selection: Users choose a mining plan based on budget and asset preference.
Wallet Funding: Accepted tokens for recharge include USDT (TRC20/ERC20), BTC, ETH, DOGE, XRP, and SOL.
Contract Activation: Mining begins automatically after purchase.
Daily Earnings: Rewards are calculated and credited daily.
Payout Management: Users may withdraw earnings or reinvest them in new contracts.
Diversified contracts are available:
The table below shows the potential income you can achieve BTC [New User Experience Contract]: Investment amount: $100, potential total net profit: $100 + $10 BTC [Core Contract Plan]: Investment amount: $600, potential total net profit: $600 + $43.2 DOGE [Core Contract Plan]: Investment amount: $3,000, potential total net profit: $3,000 + $825.3 BTC [Electricity Contract Plan]: Investment amount: $8,000, potential total net profit: $8,000 + $4340 BTC[Electricity Contract Plan]: Investment Amount: $30,000, Potential Total Net Profit: $30,000 + $23,220 Note: Profit estimates depend on network conditions and market volatility.
The marketing director of BAY Miner said: “The greater the market uncertainty, the more investors need a stable and controllable way to participate in assets. The flexibility and security of BAY Miner’s cloud mining solution are designed to meet this trend.”
A future-oriented low-threshold digital asset participation method
In the current international situation and the context of surging hardware mining costs, BAY Miner’s pure cloud model is becoming a sustainable and highly adaptable solution. Whether you are a senior cryptocurrency investor or a new user, you can participate in the network construction of mainstream crypto assets at a low cost through the BAY Miner platform and enjoy contract income every day.
Global layout, continuous optimization of user participation experience
The BAY Miner technical team has deployed multiple cloud computing nodes around the world to effectively improve system stability and block speed. At the same time, the platform has launched a multi-language version update plan, launching more than 10 language interface supports for global investors to optimize the global user participation experience.
Conclusion
BAY Miner is committed to redefining cloud mining by offering a seamless, low-barrier way to engage with top digital assets—securely, intelligently, and from anywhere.
Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. You are strongly advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.
The Board of Directors of the African Development Bank Group has approved a second partial credit guarantee to help Côte d’Ivoire raise funds for strategic green and social projects. This risk-sharing instrument will enable the country to access competitive financing from international commercial banks, including funding in local currency. The transaction builds on a successful €533 million Bank-guaranteed facility completed in 2023.
Côte d’Ivoire continues to show economic resilience and improved credit ratings. The West African country is committed to increasing revenue mobilization while ensuring prudent debt management.
The guarantee allows Côte d’Ivoire to diversify its funding sources and secure longer-term loans that align with its Medium-Term Debt Management Strategy for 2024-2028. It also provides access long-term local currency financing, helping address structural liquidity challenges in the regional financial market.
Proceeds will fund sectors aligned with the Sustainable Development Goals and Côte d’Ivoire’s National Development Plan 2021-2025. Priority areas include sustainable agriculture, water and sanitation, renewable energy, health, affordable housing, education, and financial inclusion.
“This operation reflects the Bank’s strategic use of risk mitigation instruments to help regional member countries access affordable, long-term capital for transformational investments,” said Solomon Quaynor, Vice-President for Private Sector, Infrastructure and Industrialization at the African Development Bank Group. “The guarantee supports Côte d’Ivoire’s efforts to embed sustainability into its financing strategy while strengthening investor confidence in the country’s macroeconomic and policy frameworks.”
The local currency component addresses chronic CFA franc liquidity shortages in the West African Monetary Union regional financial market, supporting both debt sustainability and regional capital market development.
“Over the past three years, we have approved seven guarantees to unlock close to $3 billion of competitively priced sustainable financing for our Regional Member Countries,” said Ahmed Attout, Bank Group Director for Financial Sector Development. The first guarantee’s €533 million proceeds were allocated to projects covering basic infrastructure projects, basic services, and employment and competitiveness projects, benefiting millions of Ivorians.
The new guaranteed facility will support Côte d’Ivoire’s vision of achieving upper-middle-income status by 2030 through sustainable economic transformation.
Prime Minister Shri Narendra Modi will undertake a visit to Ghana from July 02-03, 2025. This will be Prime Minister’s first ever bilateral visit to Ghana. This Prime Ministerial visit from India to Ghana is taking place after three decades. During the visit, Prime Minister will hold talks with the President of Ghana to review the strong bilateral partnership and discuss further avenues to enhance it through economic, energy, and defence collaboration, and development cooperation partnership. This visit will reaffirm the shared commitment of the two countries to deepen bilateral ties and strengthen India’s engagement with the ECOWAS [Economic Community of West African States] and the African Union.
In the second leg of his visit, at the invitation of the Prime Minister of the Republic of Trinidad & Tobago, H.E. Kamla Persad-Bissessar, Prime Minister will pay an Official Visit to Trinidad & Tobago (T&T) from July 03 – 04, 2025. This will be his first visit to the country as Prime Minister and the first bilateral visit at the Prime Ministerial level to T&T since 1999. During the visit, Prime Minister will hold talks with the President of Trinidad & Tobago, H.E. Christine Carla Kangaloo, and Prime Minister H.E. Kamla Persad-Bissessar and discuss further strengthening of the India-Trinidad & Tobago relationship. Prime Minister is also expected to address a Joint Session of the Parliament of T&T. The visit of Prime Minister to T&T will impart fresh impetus to the deep-rooted and historical ties between the two countries.
In the third leg of his visit, at the invitation of the President of Republic of Argentina, H.E. Mr. Javier Milei, Prime Minister will travel to Argentina on an Official Visit from July 04-05, 2025. Prime Minister is scheduled to hold bilateral talks with President Milei to review ongoing cooperation and discuss ways to further enhance India-Argentina partnership in key areas including defence, agriculture, mining, oil and gas, renewable energy, trade and investment, and people-to-people ties. The bilateral visit of Prime Minister will further deepen the multifaceted Strategic Partnership between India and Argentina.
In the fourth leg of his visit, at the invitation of President of the Federative Republic of Brazil, H.E. Luiz Inacio Lula da Silva, Prime Minister will travel to Brazil from July 5-8, 2025 to attend the 17th BRICS Summit 2025 followed by a State Visit. This will be Prime Minister’s fourth visit to Brazil. The 17th BRICS Leaders’ Summit will be held in Rio de Janeiro. During the Summit, Prime Minister will exchange views on key global issues including reform of global governance, peace and security, strengthening multilateralism, responsible use of artificial intelligence, climate action, global health, economic and financial matters. Prime Minister is also likely to hold several bilateral meetings on the sidelines of the Summit. For the State Visit to Brazil, Prime Minister will travel to Brasilia where he will hold bilateral discussions with President Lula on the broadening of the Strategic Partnership between the two countries in areas of mutual interest, including trade, defence, energy, space, technology, agriculture, health and people to people linkages.
In the final leg of his visit, at the invitation of the President of the Republic of Namibia, H.E. Dr. Netumbo Nandi-Ndaitwah, Prime Minister will embark on a State Visit to Namibia on July 09, 2025. This will be the first visit of Prime Minister to Namibia, and the third ever Prime Ministerial visit from India to Namibia. During his visit, Prime Minister will hold bilateral talks with President Nandi-Ndaitwah. Prime Minister will also pay homage to the Founding Father and first President of Namibia, Late Dr. Sam Nujoma. He is also expected to deliver an address at the Parliament of Namibia. The visit of Prime Minister is a reiteration of India’s multi-faceted and deep-rooted historical ties with Namibia.
Distributed by APO Group on behalf of Ministry of External Affairs – Government of India.
Opening press encounter for the 4th International Conference on Financing for Development with the UN Secretary-General and Prime Minister of Spain.
The President of the Government of Spain and the United Nations Secretary-General will hold a press conference on the opening day of the Fourth International Conference on Financing for Development in Sevilla, where world leaders, international financial institutions, civil society and private sector representatives are convening from 30 June to 3 July to commit to a renewed global framework to mobilize finance at scale and reform the rules of the system to put people’s needs at the center.
Speakers:
– Pedro Sánchez, President of the Government of Spain
– António Guterres, United Nations Secretary-General
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Orders of June 27, 2025 No. 1693-r and No. 1696-r
Documents
Order of June 27, 2025 No. 1696-r
Order of June 27, 2025 No. 1693-r
More than 5.6 billion rubles will be allocated to ensure the balanced budgets of the Kemerovo Region, the Republic of Crimea and the city of Sevastopol. The orders to this effect were signed by Prime Minister Mikhail Mishustin.
Of the total amount, about 3 billion rubles are intended as subsidies for Crimea and Sevastopol. The funds will be used to continue implementing the activities of the state program “Socio-economic development of the Republic of Crimea and the city of Sevastopol”. Thanks to this program, hundreds of important facilities have already been built, including utility networks, roads and railways, including the Tavrida highway and the bridge across the Kerch Strait. The Simferopol airport was also renovated, new kindergartens, schools, modern health complexes were opened, hospitals and clinics were built so that residents could undergo qualified examination and treatment. This year, funding for activities under the state program has already exceeded 112 billion rubles.
About 2.7 billion rubles will be allocated from the Government’s reserve fund for additional financial support for the Kemerovo Region. This will help solve socially significant problems for residents of Kuzbass, including ensuring the costs of paying wages to public sector employees.
The issues were discussed atGovernment meeting on June 26“We will continue to do everything necessary to create conditions for improving the quality of life of citizens throughout Russia,” Mikhail Mishustin emphasized.
The President noted that all subjects of Russia have good potential for growth, it is important to help them to reveal, fill this potential and use it, to organize work in promising areas, the head of the Cabinet recalled.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Source: United States Senator for South Carolina Lindsey Graham
WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina), Chairman of the Senate Budget Committee, today released the Senate’s full legislative text of President Trump’s One Big Beautiful Bill.
“If you like higher taxes, open borders, a weak military and unchecked government spending, this bill is your nightmare.
“I am proud to present to the public the Big Beautiful Bill. By making the Trump tax cuts permanent, working families will avoid a four trillion-dollar tax increase. Our bill provides full funding to secure the border in perpetuity and injects a much-needed $150 billion into our military to keep our nation safe. In addition, the bill raises the debt ceiling so that we do not default and crash the economy.
“Equally important, our bill reforms Medicaid – which has grown by nearly 50 percent in five years. It eliminates waste, fraud and abuse – and requires able-bodied Medicaid recipients to work. This bill is the largest reduction in government spending in recent memory, and is a down payment on fiscal reform.
“The Big Beautiful Bill contains all of President Trump’s domestic economic priorities. By passing this bill now, we will make our nation more prosperous and secure.”
View the full text HERE.
View the one-pager HERE.
For more information on the:
Senate Agriculture, Nutrition and Forestry Committee Title, click HERE for a section-by-section and HERE for a one-pager.
Senate Armed Services Committee Title, click HERE.
Senate Banking, Housing and Urban Affairs Committee Title, click HERE.
Senate Commerce, Science and Transportation Committee Title, click HERE.
Senate Energy and Natural Resources Committee Title, click HERE for a section-by-section and HERE for a one-pager.
Senate Environment and Public Works Committee Title, click HERE for a section-by-section and HERE for a one-pager.
Senate Finance Committee Title, click HERE.
Senate Health, Education, Labor, and Pensions Committee Title, click HERE for a section-by-section and HERE for a one-pager.
Senate Homeland Security and Governmental Affairs Committee Title, click HERE for Homeland Security and HERE for Governmental Affairs.
Senate Judiciary Committee Title, click HERE for a section-by-section and HERE for a one-pager.
After eight years of renovations, the Waldorf Astoria in New York has reopened and is welcoming new guests. The Waldorf – as most people know it – introduced room service, velvet ropes, red-velvet cake and Thousand Island dressing. It gave its name to a salad, a chain of lunchrooms, as well as a now obscure form of democracy.
In 1907, the novelist Henry James said the Waldorf embodied what he called the “hotel spirit”: it was a place where everyone was equal – as long as they could afford the price of admission. To James, hotels defined America’s emerging culture and ideals. He said this new “spirit” was one of opportunity; of a new elite that was accessible not only by lineage, but by money.
As the historian and journalist David Freeland wrote, the Waldorf generally made room for all who were “able and ready to pay” and who displayed a willingness to “conduct themselves properly”. The Waldorf ethos was developed by its first maître d’, Oscar Tschirky – known simply as “Oscar of the Waldorf” because people struggled to pronounce his name. “Our innovations were startling and sensational”, Tschirky said in his ghost-written autobiography in 1943, “but they were always genteel”.
Those early innovations included the invention of the “presidential suite”, which saw the hotel become an unlikely early force for American feminism when it became a hub of high-level talks between suffragists and President Woodrow Wilson.
The Waldorf, then, is an American institution – or, at least, it used to be.
It is now in the hands of Chinese owners and has been shunned by presidents since Barack Obama, worried over potential security risks. The brand itself has been watered down as there are currently 32 “Waldorf Astorias” dotted around the globe.
The story of the Waldorf encapsulates modern America’s crisis of the establishment. Few places better personify the creation of the US version of the establishment (much more about money than breeding or class). And in the past decade, the hotel’s position, like the US establishment more generally, has come under assault by a rival hotel owner, Donald Trump.
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Trump has his own ideas about how to use these modern palaces to project power – and his innovations are anything but genteel. So what can the beginnings of this former American institution tell us about America today? As a researcher of political and democratic institutions, I have been examining the role of hotels in the story of American democracy. And this particular story begins with a Swiss-born waiter.
Oscar of the Waldorf
Tschirky was born in the Swiss Alpine village of Le Locle in 1866. He and his mother boarded the steamer La France in 1883, bound for New York. In his book, he recalled his mother’s announcement:
Yes, Oscar, we’re going to go to America and live with your brother in that great land of plenty where we can have everything we’ve always wanted.
That night, according to his book, was “the beginning of Oscar’s career as beloved servitor and counsellor to the great and near great of this world”.
Although it would be ten years after arriving in New York, that Tschirky would join the Waldorf (which was just about to open) as maître d’. His contract and salary commenced on January 1 1893, ahead of the grand opening of the Fifth Avenue hotel in March. He would occupy his post for the next half-century as “host to the world”.
Tschirky would remain in place as the hotel expanded in 1897 when John Jacob Astor IV built and connected the larger, taller Astoria Hotel next door. Then in 1931 the hotel was forced to relocate when its Fifth Avenue location was razed for the Empire State Building. The “new” Waldorf Astoria New York reopened on Park Avenue with the addition of its famous towers, making it the tallest hotel in the world at the time.
Tschirky was born just one year after the end of the American Civil War. It was an America of Jim Crow laws and segregation. He would live to see women’s suffrage, but not the civil rights reforms of the mid-1960s.
In this turbulent context, it appears that Tschirky did his best to keep the Waldorf out of politics. He stuck to the advice given by the Waldorf’s manager, George Boldt (himself a German immigrant) who told him that it was “not up to the hotel to settle international affairs”.
Tschirky came to understand, realise, and represent the “hotel spirit” of a new America as he presided over the establishment of hotels as American palaces: not only for visitors, but for the new American aristocracy.
A presidential palace
The Waldorf famously hosted every US president from Grover Cleveland to Franklin Roosevelt. In spring 1897, Cleveland was at the Waldorf with members of his former cabinet, who wanted him as Democratic candidate in the 1900 election. This was the first reported instance of “Waldorf democracy” – in this case, the term was used to identify this new group within (and in some respects differentiate it from) “the democracy”, that was the Democrats.
President Grover Cleveland (sitting on the far left) and his cabinet, between 1895 and 1896. Shutterstock/Everett Collection
This politics was not embraced by all. As reported in The Ohio Democrat, Congressman Edward W. Carmack of Tennessee dismissed it as “the walled-off Democracy, because they are by themselves, representing nobody, and unable to influence a vote”.
Nevertheless, political elites liked the luxury that the Waldorf offered. Presidential suites were established during Woodrow Wilson’s presidency (1913-21). In the Waldorf, this famous suite emulates the furniture of the White House and still contains several presidential souvenirs, (including John F. Kennedy’s rocking chair).
The hotel was also popular among the famous “Four Hundred of the Gilded Age” – the highest echelons of New York society. The group was originally led by Caroline Schermerhorn Astor. The Astors’ ancestral family home, the town of Walldorf, in western Germany, had even given the hotel its name. According to Tschirky’s book, the Waldorf’s grand ballroom was:
… where Teddy Roosevelt had dined, where presidents McKinley, Taft, Wilson, Harding, Coolidge and Hoover had spoken historic words to the nation, where princes of royal blood had been welcomed, where the great people in every walk of life had been honored.
The Waldorf proved a suitable palace for US presidents and their entourages and Tschirky, a suitable “servant”. When interviewed by Washington DC’s Evening Star, Tschirky “wouldn’t talk about presidents except to say that Franklin D. Roosevelt calls him, ‘my neighbor across the Hudson’”.
But Tschirky, “for all his celebrity acquaintances, never forgot that he was, in the end, a servant”, as Freeland wrote. The Waldorf likewise applied the term to its staff.
Exclusivity, exclusion and ‘democracy’
The world famous hotelier Conrad Hilton, who acquired the Waldorf in 1949, recalled in his autobiography, Be My Guest:
Originally the Waldorf was said to purvey exclusiveness to the exclusive. Later [the writer and artist] Oliver Herford announced that it ‘brought exclusiveness to the masses’. But that exclusiveness remained whether the hotel catered to a convention of three thousand or a tête-à-tête between crowned heads.
The Waldorf ethos projected “taste” and imbued it in others. Tschirky “subtly schooled Americans in fine European dining”. In 1956 – six years after Tschirky’s death – the New York Times recalled that, alongside Boldt, he undertook to teach people how to spend their money. The Waldorf embodied good taste by enforcing it, for example in its expectation of “proper conduct”.
But with exclusivity comes exclusion. Hence, the hotel’s introduction of the velvet rope. According to the Waldorf’s luxury suite specialists, this was done “to create order … the fact that it created a sense of stature and separation was secondary”.
Tschirky’s statement that “all who pay their bills are on an equal footing” reflects one of his “rules for success”:
… be as courteous to the man in a five dollar room as to the occupant of the royal suite. It is an old rule, but it never changes.
We can see from this mindset how the hotel was seen to possess, as American Studies scholar Annabella Fick put it, “a democratic quality … even though it is also elitist. In that, it invokes the democratic understanding of early America, which also differentiated between land-owning gentry and the mob”.
This was not the only differentiation. Just two years after the Waldorf opened, the 1895 New York State Equal Rights Law (commonly known as the Malby Law) – which aimed to abolish racial discrimination in public places – had aroused Boldt’s indignation. According to Freeland, Boldt described the law to reporters as “an outrage, as it prevents us from making any selection of our patrons. A man who runs a first-class hotel must respect the wishes of his guests as to the sort of people that he entertains, and the law should not dictate to him.”
In his paradoxical desire for the freedom to discriminate and persecute as he wished – and on behalf of his customers, real or imagined – Boldt illustrated the exclusion inherent in exclusivity. Boldt’s statement also presaged a system of informal segregation, in which Black Americans were allowed in the Waldorf (and elsewhere), but were certainly not welcome.
Despite this the Waldorf was at the heart of a fundamental shift in American culture which “invited” ordinary Americans access beyond the velvet rope – as long as they could afford it. As James McCarthy and John Rutherford said in their 1931 book, Peacock Alley: “The average man and woman … frowned upon grand display – chiefly because the average person knew it was beyond his or her own horizon of enjoyment. The arrival of the Waldorf, however, was an invitation to the public to taste of this grandeur.”
And it wasn’t just the paying customers. During its 30th anniversary in 1923, the Waldorf elevated its staff – its servants – to the level of guests. Reporters for the Birmingham Age-Herald noted: “Practically the entire staff of the hotel were guests … the affair reached the topnotch of Waldorf democracy, for the waiters and financiers, telephone girls and captains of industry, coat-room clerks and merchant princes sat side by side and swapped reminiscences with each other.” The article continues:
Oscar sat [at] the head of his own table as guest of honor. For a brief time Oscar was no longer the solicitous host … For an hour or two Oscar was himself the guest, and the entire kitchen menage of the Waldorf-Astoria was kept hopping filling his wants and those of his fellow guests.
Oscar and his wife Louise, in the Birmingham Age-Herald above ‘Father Knickerbocker’ – a personification of New York City (hence The Knicks) – celebrating the Waldorf at 30. Library of Congress
But being a guest was a temporary experience.
The “Waldorf democracy” described during this event – of people from every walk of life and status mixing and socialising – was very different to that of the Cleveland entourage. It was not party-political, but institutional.
Democracy meant different things, at different times, within the Waldorf; just like in the broader US. The Waldorf, in turn, began to change, and perhaps even lose its meaning within the US by the time of Obama’s presidency.
Chinese ownership
The Waldorf lost its status as presidential palace in 2014. It was bought for $1.95bn by a Chinese company that was later seized by the Chinese government. Security concerns a year later prompted President Obama to stay at the Lotte New York Palace Hotel instead.
Obama’s choice of where to stay – and where not to stay – was widely discussed in the media. The decision was seen to “break with decades of tradition”. ABC News recognised and portrayed it as the end of an era, bidding “Goodbye to the Waldorf Astoria, welcome to the Lotte New York Palace Hotel”. This new era was also framed in geopolitical terms, for example by the New York Times:
With Chinese spies rummaging through White House emails, President Obama has decided not to risk making their spying any easier: He will break with tradition and abandon the Waldorf Astoria … Mr. Obama and other officials will instead take up residence a few blocks away at the Lotte New York Palace.
The same article also pointed out that “hotels have long represented a weak link in security for travelling officials and others”. In fact, Nikita Khrushchev had once got stuck in an elevator at the Waldorf, and “probably thought it was an attempt to assassinate him”.
Covering up an assassination as an “elevator accident” is probably not what Hilton had in mind when he envisaged his hotels as “a means of combating communism”. On the contrary – as Professor Mairi Maclean, a researcher of business elites, put it – Hilton envisaged hotels as a means of “facilitating world peace through international trade and travel”.
Women’s suffrage
It may not have brought about world peace, but the Waldorf did play a part in certain moments of US history because it was always seen as a key arena to lobby rulers, most notably in 1916. Women’s suffrage in America was still four years away. On one side of the debate (and the Waldorf itself) were two hundred suffragists, occupying the East Room. On the other was Woodrow Wilson, occupying the Presidential Suite.
Tschirky recalled being “appointed diplomatic courier … and delegated to carry the first communiqué of the morning … In the midst of it all I stood my ground, swearing myself an ice cold neutral”.
Though neutral on the question of suffrage, Tschirky was willing to reduce boundaries within the hotel, especially if it was good for business. Even as the hotel was being built, Tschirky remembered that “there was not, in all America, such a thing as a motor car, a radio … Nor were cocktails ever seen in private homes; or divorces tolerated in society; nor did women smoke, or wear dresses above their ankles”.
Then in 1907 a notice was put up in the Waldorf: “Women would be served in the hotel restaurants at any time, with or without male escorts.” Freeland noted Tschirky’s simple confirmation that: “We will serve women. What else can you do in a hotel?”
Crowd of women’s suffrage supporters demonstrating with signs reading, ‘Wilson Against Women’, in Chicago on October 20, 1916. Wilson withheld his support for Votes of Women until 1918. Shutterstock/Everett Collection
A few years later, discussing women’s right to smoke in the dining rooms, Tschirky said: “We do not regulate the public taste. Public taste does and should regulate us.”
During the Waldorf’s 30th anniversary in 1923, newspapers such as El Imparcial celebrated it as “a civic asset of unique importance. And to its other accolades must be added that of contributing effectively to the progress of feminism. It was a memorable day in the women’s rights movement when The Waldorf Astoria granted female access to the Peacock Alley.”
Nevertheless, even the naming of Peacock Alley – a corridor in the hotel that became an important place of congregation, especially for women – was a recognition of exclusivity. It was where people gathered to parade themselves. As the recollection goes in Tschirky’s memoirs: “The Waldorf Hotel was a triumphant picture of the Best People at their best”.
Trump
With their ostentatious decor and gilded interiors, Trump’s hotels could be seen as the modern incarnation of Peacock Alley.
But the tenets of politeness, respect and decorum that Tschirky set down seem like echoes from another age when compared to a recent AI video showing Trump and Israeli Prime Minister Benjamin Netanyahu sitting shirtless at a pool with drinks at an imaginary “Trump Gaza hotel”. The video appears to have been a spoof, but that didn’t stop the president from sharing it on Truth Social, his own social media platform, and Instagram.
Like Hilton (who was immortalised in Mad Men, demanding a Hilton on the moon) hotels have always been a part of Trump’s brand. Trump recalled, in How to Get Rich, that his “first big deal, in 1974, involved the old Commodore Hotel site near Grand Central Station” on 42nd Street.
The former Trump International Hotel in Washington DC, opened in 2016, was described as “the epicenter of the president’s business interests in [the capital]”. It was also “a popular choice for lobbyists and Republican Congress members during Trump’s presidency”.
“The Trump Organization sold the hotel’s lease to CGI in 2022, when the hotel was reflagged as a Waldorf Astoria”, though Trump’s firm is rumoured to be in talks to reacquire it.
Another similarity between Hilton and Trump is their use of hotels as symbols for the nation. Each hotel of Hilton’s was envisaged as a “Little America”, “to show the countries most exposed to communism the other side of the coin”.
It had all of the ingredients of greatness, but it had been neglected and left to deteriorate for many many decades … It had the foundation of success. All of the elements were here. Our job is to restore our former glory, honor its heritage, but also imagine a brand new and exciting vision for the future.
Forbes commented that this event “could’ve easily been mistaken for a Trump rally”, for example in his statement that “my theme today is five words: ‘under budget and ahead of schedule’ … We don’t hear those words too often in government – but you will!”
Similarly, in an interview with the New York Post, Trump’s son Eric Trump used familiar Maga rhetoric: “Our family has saved the hotel once. If asked, we would save it again”.
What would Tschirky have made of all this? As a political neutral he would have decried Trump’s frequent hotel plugs during political campaigns. No doubt his behaviour would have seemed crass.
Perhaps this reflects two different eras of hotels and their intended functions. Grand hotels such as the Waldorf were shaped by European colonialism, by immigrants like Tschirky and Boldt. But as historian Annabel Wharton describes, the Hiltons “were constructed not, as in the nineteenth century, to meet an established need, but to create one. They suggest that this pressure was not produced simply by the desire for profit, but from a remarkable political commitment to the system that promoted profit-making”. I think we can read Trump’s hotels, and now his politics, in the same way.
The hotel spirit has entered a new phase with Trump’s proposals to “own, level, and develop” the Gaza Strip and create a “Riviera of the Middle East” – riding roughshod over the democratic will of Palestinians in Gaza who dismissed Trump’s vision.
Less than two decades after opening, Tschirky remarked that “many of the great events, financial, diplomatic, political, had had their inception within [the Waldorf’s] stone walls”. For him, it was “an international crossroad where men from all lands came to exchange goods and ideas” and to plan the changes in the world which he would later see come to pass.
Tschirky saw hotels as the most democratic places on Earth. But the “hotel spirit” he espoused – that uniquely American narrative within which he “became a citizen almost overnight” (a feat that seems vanishingly unlikely today) – seems to have been consigned to the past.
“I know that better times will come again”, he says in the preface to his book, “but in terms of the past, I think I have seen the best. New York has changed. America has changed.”
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Alex Prior does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
India paid heartfelt tributes to former Prime Minister PV Narasimha Rao on his birth anniversary, celebrating his legacy as a visionary leader whose transformative economic reforms reshaped the nation’s trajectory. Leaders across the political spectrum lauded Rao’s contributions to India’s economic liberalization, foreign policy, and national development.
Prime Minister Narendra Modi honored Rao, stating on X, “India is grateful to Shri PV Narasimha Rao Garu for his effective leadership during a crucial phase of our development trajectory. His intellect, wisdom, and scholarly nature are widely admired.”
Born on June 28, 1921, in Laknepalli village, present-day Telangana, Rao was a freedom fighter and a prominent member of the Indian National Congress. Serving as India’s ninth Prime Minister from 1991 to 1996, he was the first South Indian and only the second non-Hindi-speaking leader to hold the office. His tenure is best remembered for the 1991 economic reforms that liberalized India’s economy, fostering unprecedented growth and elevating the country’s global standing.
Defence Minister Rajnath Singh described Rao as “a towering statesman and scholar par excellence,” noting his contributions to economic progress and national development. Congress President Mallikarjun Kharge echoed this sentiment, emphasizing that Rao’s reforms were “instrumental in catalyzing an era of unprecedented national growth” and pivotal in expanding India’s middle class. Kharge also highlighted Rao’s role in advancing India’s nuclear program and initiating the ‘Look East’ foreign policy.
The Congress party paid tribute, stating, “Rao’s 1991 economic reforms set India on the path of progress, liberalization, and self-reliance. His bold reforms and statesmanship continue to inspire generations.”
Other leaders, including Union Minister Shivraj Singh Chouhan, Lok Sabha Speaker Om Birla, Uttarakhand Chief Minister Pushkar Singh Dhami, and Haryana Chief Minister Nayab Saini, also honored Rao. Chouhan called him a “Bharat Ratna” whose contributions were invaluable, while Birla hailed him as the “architect of India’s prosperity through liberalization.” Dhami and Saini praised Rao’s role in opening doors to economic prosperity and strengthening India’s global identity.
Source: People’s Republic of China – State Council News
An increased number of regions in China are granting maternity allowances directly to individuals instead of via their employers, thereby simplifying the process for mothers to claim this money.
According to the National Health Security Administration, all new mothers in 12 provinces across the country, as well as the Xinjiang Production and Construction Corps, are entitled to receive the allowance directly in their bank accounts.
In addition, most other provinces have granted the allowances directly to part, if not all, of the eligible group, the administration noted.
It said that direct payment of maternity allowances to individuals helps make medical insurance more accessible, therefore better protecting the rights and interests of female employees during maternity leave.
Maternity allowance refers to the living expenses paid to female employees during their absence from work due to childbirth, as stipulated by Chinese laws and regulations.
Historically, these funds were disbursed to employers, who would then distribute them to employees. However, there have been instances where employees did not receive the complete entitlement. The expanding group of flexibly employed women further complicates the situation in China.
“When my first child was born, I had to submit a stack of documents and wait a month or so to get my allowance,” said a woman surnamed Li in north China’s Hebei Province. “For my second child this time, the allowance was credited into my personal account only two to three days after the hospital discharge settlement.”
Quick settlement of this allowance enabled Li to concentrate on taking care of herself and the newborn baby without distractions. “This effectively reduced the burden of childbirth on my family,” she added.
Earlier this month, central authorities issued a set of guidelines on further improving public well-being, which pledged support for locations where conditions permit to distribute maternity allowances directly to maternity insurance participants.
This move is yet another effort by the Chinese government to promote childbirth in the face of challenges of a dwindling number of newborns and a growing aging population. The country’s birth rate and number of newborns both dropped for seven consecutive years before reporting rises in 2024, while the population aged 60 and above reached 310 million last year.
To boost its birth rate, China has implemented a slew of supportive policies in recent years. It phased out the one-child policy by allowing married couples to have two children in 2016 and announced support for couples looking to have a third child in 2021.
In addition to financial support, other incentive measures include increased childcare services, extended maternity leave, and strengthened support in education, housing and employment, all aimed at fostering a birth-friendly society.
This year, generous childcare subsidies have been reported across China as part of the country’s holistic efforts to boost birth rates, making news headlines and sparking significant discussions.
The Ministry of New and Renewable Energy (MNRE) in Saturday announced revised guidelines for the Waste-to-Energy (WtE) Programme under the National Bioenergy Programme, aiming to create a more efficient, transparent, and performance-driven ecosystem for bioenergy deployment in India. The updated framework simplifies processes, accelerates financial assistance, and ties support to plant performance, fostering a business-friendly environment for both private and public sector entities, particularly micro, small, and medium enterprises (MSMEs).
The revised guidelines streamline procedures by reducing paperwork and easing approval requirements, enabling enhanced production of compressed biogas (CBG), biogas, and power. These changes support improved waste management, including stubble and industrial waste, aligning with India’s goal of achieving net-zero emissions by 2070.
A key feature of the revised guidelines is an improved system for disbursing Central Financial Assistance (CFA). Previously, developers had to wait until their WtE projects achieved 80% generation capacity to receive funding. The new framework allows CFA to be released in two stages: 50% of the total CFA will be disbursed upon obtaining the Consent to Operate certificate from the State Pollution Control Board, backed by a bank guarantee, with the remaining amount released after the plant achieves 80% of its rated capacity or the maximum CFA-eligible capacity, whichever is lower. For plants failing to reach 80% capacity during performance inspections, a pro-rata disbursement based on output percentage is now available, though no CFA will be provided if the plant load factor falls below 50%. This flexibility acknowledges operational challenges and enhances financial viability for developersေ
The inspection process has also been refined to ensure greater transparency and accountability. Joint inspections will now be conducted by the National Institute of Bio-Energy (SSS-NIBE), an autonomous MNRE institute, alongside a representative from State Nodal Agencies, Biogas Technology Development Centers, or an MNRE-empaneled agency. For developers not opting for advance CFA, only one performance inspection is required, minimizing procedural delays.
Additionally, the guidelines provide developers with flexibility to claim CFA within 18 months from either the date of commissioning or the date of in-principle CFA approval, whichever is later.
These revisions mark a significant step toward supporting India’s clean energy sector. By aligning financial support with actual performance, simplifying compliance, and improving access to funding, MNRE is fostering a conducive environment for WtE projects. This initiative not only aids private players in the sector but also advances India’s goals of sustainable waste management and renewable energy development.
The Chairman / Managing Director / Chief Executive All Scheduled Commercial Banks including RRBs / Urban Cooperative Banks / State Cooperative Banks / District Central Cooperative Banks / National Payments Corporation of India (NPCI)
Madam / Dear Sir,
Aadhaar Enabled Payment System – Due Diligence of AePS Touchpoint Operators
Aadhaar Enabled Payment System (AePS) is a payment system operated by National Payment Corporation of India (NPCI) that facilitates interoperable transactions using Aadhaar enabled authentication. AePS plays a prominent role in enabling financial inclusion.
2. In recent times, there have been reports of frauds perpetuated through AePS due to identity theft or compromise of customer credentials. To protect bank customers from such frauds, and to maintain trust and confidence in the safety and security of the system, a need is felt to enhance the robustness of AePS. Accordingly, as announced in Statement on Developmental and Regulatory Policies dated February 08, 2024, it has been decided to issue directions for streamlining the process for onboarding of AePS touchpoint operators and strengthening fraud risk management. Detailed instructions are placed in the Annex.
3. These directions are issued under Section 18 read with Section 10(2) of the Payment and Settlement Systems (PSS) Act, 2007 (Act 51 of 2007) and shall come into effect from January 01, 2026.
Yours faithfully,
(Gunveer Singh) Chief General Manager-in-Charge
Encl.: Annex
Annex
CO.DPSS.POLC.No.S339/02-01-001/2025-2026
June 27, 2025
Aadhaar Enabled Payment System – Due Diligence of AePS Touchpoint Operators
1. Definitions
I. In these directions, the terms herein shall bear the meanings assigned to them below:
Aadhaar Enabled Payment System (AePS): It is a Payment System in which transactions are enabled through Aadhaar number and biometrics or OTP authentication providing financial services such as cash withdrawal, cash deposit, fund transfer, and non-financial services such as mini statement and balance enquiry. etc.
Acquiring bank: The bank which onboards the AePS touchpoint operators.
AePS Touchpoint: The terminal deployed by acquirer banks to facilitate AePS transactions, which shall include both mobile and fixed points.
AePS Touchpoint Operator (ATO): The individual onboarded by the acquiring bank who operates the AePS touchpoint.
II. Terms pertaining to Aadhaar, Aadhaar biometric authentication, etc., shall have the same meaning as assigned to them in the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016), and the rules made thereunder.
III. Words and expressions used but not defined in I and II above and defined in the Payment and Settlement Systems Act, 2007 shall have the meanings assigned to them in that Act.
2.2 In cases where an ATO has remained inactive, i.e. has not performed any financial / non-financial transaction for a customer for a continuous period of three months, acquiring bank shall carry out KYC of ATO before enabling him / her to transact further.
3. Risk Management
3.1 The acquiring bank shall monitor the activities of ATOs through their transaction monitoring systems on an ongoing basis and set operational parameters, based on business risk profile of the ATOs. Aspects such as location and type of the ATO, volume and velocity of transactions, etc. shall form part of bank’s fraud risk management framework.
3.2 The operational parameters regarding ATOs shall be reviewed on a periodic basis, reflecting emerging fraud trends.
3.3 The acquiring bank shall put in place adequate system level controls to ensure that any technological integrations like APIs are used only for enabling AePS operations.
SHENZHEN, China, June 28, 2025 (GLOBE NEWSWIRE) — Somerset Asset Management, renowned for offering personalized wealth management services to high-net-worth individuals, families, non-profit organizations, and corporate retirement plans, is excited to announce the expansion of its client acquisition operations in Europe and the Middle East. This strategic move enhances the company’s ability to serve a growing global client base with tailored wealth management solutions designed to meet a wide range of needs.
The expansion allows Somerset to support its international clients better, providing bespoke strategies that focus on growing, protecting, and managing wealth. By delivering independent, unbiased financial advice, the company ensures that every recommendation aligns with clients’ financial needs and objectives.
Tailored Wealth Management with a Personal Touch
“Our team has always been driven by a shared vision of offering exceptional financial services globally,” said Jake Taylor, Chief Client Officer at Somerset Asset Management. “Expanding our operations in Europe and the Middle East allows us to bring our client-first approach to an even broader audience, helping clients make well-informed decisions while securing their financial futures.”
Building Long-Term Relationships with Clients
At Somerset Asset Management, building long-term relationships based on trust and mutual respect is central to its philosophy. By continuously putting client interests first, the firm develops comprehensive financial roadmaps that evolve to meet clients’ changing needs and aspirations over time.
Somerset Asset Management specializes in crafting personalized wealth management solutions for high-net-worth individuals, families, and institutions. With decades of experience, the company combines its independent, unbiased approach with a focus on long-term relationships, empowering clients to achieve their financial goals and build lasting financial security.
Disclaimer: This press release is provided by the Somerset Asset Management. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
SHENZHEN, China, June 28, 2025 (GLOBE NEWSWIRE) — Somerset Asset Management, renowned for offering personalized wealth management services to high-net-worth individuals, families, non-profit organizations, and corporate retirement plans, is excited to announce the expansion of its client acquisition operations in Europe and the Middle East. This strategic move enhances the company’s ability to serve a growing global client base with tailored wealth management solutions designed to meet a wide range of needs.
The expansion allows Somerset to support its international clients better, providing bespoke strategies that focus on growing, protecting, and managing wealth. By delivering independent, unbiased financial advice, the company ensures that every recommendation aligns with clients’ financial needs and objectives.
Tailored Wealth Management with a Personal Touch
“Our team has always been driven by a shared vision of offering exceptional financial services globally,” said Jake Taylor, Chief Client Officer at Somerset Asset Management. “Expanding our operations in Europe and the Middle East allows us to bring our client-first approach to an even broader audience, helping clients make well-informed decisions while securing their financial futures.”
Building Long-Term Relationships with Clients
At Somerset Asset Management, building long-term relationships based on trust and mutual respect is central to its philosophy. By continuously putting client interests first, the firm develops comprehensive financial roadmaps that evolve to meet clients’ changing needs and aspirations over time.
Somerset Asset Management specializes in crafting personalized wealth management solutions for high-net-worth individuals, families, and institutions. With decades of experience, the company combines its independent, unbiased approach with a focus on long-term relationships, empowering clients to achieve their financial goals and build lasting financial security.
Disclaimer: This press release is provided by the Somerset Asset Management. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
SHENZHEN, China, June 28, 2025 (GLOBE NEWSWIRE) — Somerset Asset Management, renowned for offering personalized wealth management services to high-net-worth individuals, families, non-profit organizations, and corporate retirement plans, is excited to announce the expansion of its client acquisition operations in Europe and the Middle East. This strategic move enhances the company’s ability to serve a growing global client base with tailored wealth management solutions designed to meet a wide range of needs.
The expansion allows Somerset to support its international clients better, providing bespoke strategies that focus on growing, protecting, and managing wealth. By delivering independent, unbiased financial advice, the company ensures that every recommendation aligns with clients’ financial needs and objectives.
Tailored Wealth Management with a Personal Touch
“Our team has always been driven by a shared vision of offering exceptional financial services globally,” said Jake Taylor, Chief Client Officer at Somerset Asset Management. “Expanding our operations in Europe and the Middle East allows us to bring our client-first approach to an even broader audience, helping clients make well-informed decisions while securing their financial futures.”
Building Long-Term Relationships with Clients
At Somerset Asset Management, building long-term relationships based on trust and mutual respect is central to its philosophy. By continuously putting client interests first, the firm develops comprehensive financial roadmaps that evolve to meet clients’ changing needs and aspirations over time.
Somerset Asset Management specializes in crafting personalized wealth management solutions for high-net-worth individuals, families, and institutions. With decades of experience, the company combines its independent, unbiased approach with a focus on long-term relationships, empowering clients to achieve their financial goals and build lasting financial security.
Disclaimer: This press release is provided by the Somerset Asset Management. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Oxfam condemns “private finance takeover” of development efforts, as over 3.7 billion people remain in poverty ten years after the Sustainable Development Goals were agreed.
New Oxfam analysis unveils “astronomical rise in private wealth”. Between 1995 and 2023, global private wealth grew by $342 trillion – 8 times more than public wealth.
Oxfam analysis also showsgovernments are making the largest cuts to life-saving aid since aid records began. Aid cuts could cause 2.9 million more children and adults to die by 2030, from HIV/AIDS causes alone.
Results of a new global survey show 9 out of 10 people support paying for public services and climate action through taxing the super-rich.
Oxfam urges new strategic alliances to address inequality; urgently revitalize aid and tax the super-rich; and assert new “public-first” approach over private finance.
The world’s richest 1% increased their wealth by more than $33.9 trillion in real terms since 2015, reveals new Oxfam analysis ahead of the world’s largest development financing talks in a decade, in Seville, Spain. This is more than enough to eliminate annual poverty 22 times over at the World Bank’s highest poverty line of $8.30 a day. The wealth of just 3,000 billionaires has surged $6.5 trillion in real terms since 2015, and now comprises the equivalent of 14.6% of global GDP.
Wealthy governments are making the largest cuts to life-saving development aid since aid records began in 1960. Oxfam analysis finds that G7 countries alone, who account for around three-quarters of all official aid, are cutting aid by 28% for 2026 compared to 2024. Whilst critical aid is cut, the debt crisis is bankrupting governments – 60% of low-income countries are at the edge of a debt crisis – with the poorest countries paying out far more to repay their rich creditors than they are able to spend on classrooms or clinics. Only 16% of the targets for the Global Goals are on track for 2030.
Oxfam’s new analysis examines the failures of a private investor-focused approach to funding development. A decade-long effort by major development actors to recast their mission as one of supporting powerful Global North financial actors has led in fact to a host of harms and at the same time only mobilized paltry sums. The analysis also looks at the role of private creditors, who now outpace bilateral lenders by five times and account for more than half the debt owed by low- and middle-income countries, in exacerbating the debt crisis with their refusal to negotiate and their punitive terms.
“Seville is the first major gathering of countries worldwide at a time that life-saving aid is being decimated, a trade war has started, and multilateralism being fractured – all in the backdrop of the second Trump administration. There is glaring evidence that global development is desperately failing because – as the last decade shows –the interests of a very wealthy few are put over those of everyone else,”said Amitabh Behar, Executive Director of Oxfam International.
What the World Bank described as a “billions to trillions” paradigm shift has been a boon for wealthy investors–the richest 1% own 43% of global assets–but now faces overwhelming evidence of failure, even according to former champions. Alarmingly, there is new momentum behind the idea of diverting the little aid that remains to private financial actors.
“Rich countries have put Wall Street in the driver’s seat of global development. It’s a global private finance takeover which has overrun the evidence-backed ways to tackle poverty through public investments and fair taxation. It is no wonder governments are abysmally off track, be it on fostering decent jobs, gender equality, or ending hunger. This much wealth concentration is choking efforts to end poverty”,said Behar.
New Oxfam analysis shows that between 1995 and 2023, global private wealth grew by $342 trillion – 8 times more than global public wealth, which grew by just $44 trillion. Global public wealth–as a share of total wealth–actually fell between 1995 and 2023.
Oxfam is urging governments to rally behind policy and political proposals that offer a change in course by tackling extreme inequality and transforming the development financing system:
New strategic alliances against inequality. Governments must band together in new coalitions to oppose extreme inequality. Countries such as Brazil, South Africa and Spain are offering leadership to do so internationally. A new ‘Global Alliance Against Inequality’ supported by Germany, Norway, Sierra Leone and others sets an example for nations to back.
Public-first approach – reject the Wall Street Consensus. Governments should reject private finance as the silver bullet to funding development. Instead, governments should invest in state-led development– to ensure universal high-quality healthcare, education and care services, and explore publicly-delivered goods in sectors from energy to transportation.
Total rethink of development financing – tax the ultra-rich, revitalize aid, reform debt architecture, and move beyond GDP indicators.Global North donors must urgently reverse catastrophic cuts to lifesaving aid and meet the 0.7% ODA target as minimum. Governments must back efforts for a new UN debt convention, and support the UN tax convention, building on Brazil’s G20 effort to tax high-net-worth-individuals.
“Trillions of dollars exist to meet the global goals, but they’re locked away in private accounts of the ultra-wealthy. It’s time we rejected the Wall Street Consensus and instead put the public in the driving seat. Governments should heed widespread demands to tax the rich – and match it with a vision to build public goods from healthcare to energy. It’s a hopeful sign that some governments are banding together to fight inequality – more should follow their lead, starting in Seville”,said Behar.
Oxfam’s media briefing note, “From Private Profit to Public Power: Financing Development, Not Oligarchy” can be downloadedhere.
Oxfam’s analysis of the historic cuts to development aid and their impact on the poorest can be foundhere. The modelling on HIV/AIDS deaths was published in the Lancet HIV.
The study that surveyed global opinion on taxing the super-rich was commissioned by Greenpeace and Oxfam International. The research was conducted by first party data companyDynatain May-June 2025, in Brazil, Canada, France, Germany, Kenya, Italy, India, Mexico, the Philippines, South Africa, Spain, the UK and the US.The survey had approximately 1200 respondents per country, with a margin of error of +-2.83%.Together, these countries represent close to half the world’s population.See the results here.
The cost of ending poverty is based on the annual cost of ending poverty in 2024 for one year, for the over 3.7 billion people living below the $8.30 a day poverty line, according to World Bank data. The increase in wealth of the 1% since 2015 would be more than enough to meet this cost 22 times over. Another way of expressing this is that the total amount is more than enough to completely end poverty for 22 years. This is only indicative, as the cost of ending poverty would likely fall over the next 22 years anyway as the numbers living in poverty reduce, and the value of the wealth would increase as it would not be spent all at once. But nevertheless this comparison indicates the extent to which more wealth, which is being greatly concentrated in the hands of a few, could be directed to ending poverty instead of further inflating the fortunes of the richest. For further information on the calculations see themedia briefing paper.
Oxfam will be hosting a major high-level event together with Club de Madrid, at 7pm on July 1, 2025, in Seville, joined by high-level government representatives on the media briefing note. Journalists are invited to attend and will be prioritized for questions. Please registerhere.
Moreover, an official side event on inequality and tax reform will take place at 2.30pm on July 1, 2025, at the FIBES Exhibition Centre room 20 joined by high-level government representatives from Brazil, Spain and South Africa, international organizations and global experts. See notehere.
In response to the outcome of the 2025 UN Bonn climate meetings, Oxfam Climate Policy Lead Nafkote Dabi said:
“The Bonn climate talks once again exposed the deep divide over who should bear the cost of climate harms, adaptation, and the shift to fossil fuel alternatives in the Global South. Rich countries’ refusal to accept responsibility alongside their go-slow tactics are wearing thin and ultimately benefit no-one. The world needs them to step up and pay their climate debt through public, grant-based finance to support climate action in developing countries.
In a world on track for 3°C or more of warming, all countries – especially the riches and biggest polluters – must push for ambitious climate plans ahead of COP30 in Brazil. We need urgent action now.
We are highly concerned that rich countries are opening the door ever wider for private investors from the global north to reap the profits from the climate crisis. This is simply another attempt to avoid their own commitments to mobilize publicly sourced climate finance at the scale needed. Rich countries are selling global development, humanitarianism and energy transition as profit-making centres to the highest bidder. This approach is not only unjust – the world’s poorest and most impacted people are being denied much needed public finance – but also threatens to worsen their lives.
“Private finance” will likely become the drumbeat from now through to COP30. But people’s lives must clearly be put front and center and big business not simply given the green light to access climate finance for their own profiteering.
These talks did however maintain the chance for a breakthrough in the process for a transformative and equitable shift away from fossil fuels and a just transition for all. If adopted in Belem, this text could help workers confronted with losing jobs or communities impacted by the risk of an extractive transition. It could potentially bring the world closer to the Paris goal and climate justice. We witnessed parties working cooperative and in good faith, and civil society organizations playing a pivotal role in negotiations.”
Source: United States House of Representatives – Congresswoman Sharice Davids (KS-3)
Today, Representative Sharice Davids announced the U.S. Department of Health and Human Services (HHS) awarded the University of Kansas Medical Center’s Project Eagle, a Head Start project, with a new federal grant. The $5.68 million will be used to continue providing early education opportunities and family support services to children and families in Wyandotte County.
“Head Start programs are one of the smartest investments we can make — for our kids, our families, and our local economy,” said Davids. “They provide affordable early education and care that working parents can count on, help children build the skills they need to succeed, and create good-paying jobs for educators right here at home.”
“This grant will allow us to continue serving the extraordinary children and families of Wyandotte county through this grant,” said Lisa London, Director, Project Eagle. “With this support we can continue serving 299 children and families in Wyandotte county.”
Davids is committed to lowering costs for Kansas families and improving access to quality child care. Last year, she votedwith both parties to expand the Child Tax Credit, benefiting 136,000 children in Kansas. She also toured a local child care facility and visited multiple Head Start programs to highlight how federal investments have supported the workforce and daily operations of local child care small businesses and education centers.
Davids also believes in putting money back in parents’ pockets, allowing Kansas families to make their own child care decisions. She introduced the bipartisanAffordable Childcare Act, which would allow Kansas families to save on high child care expenses and live more affordably.
Background:
Project Eagle is a Head Start program under the University of Kansas Medical Center. It has offered services in Wyandotte County for more than 35 years. Their programs focus on the health and well-being of pregnant women and young children and aim to prepare children, engage families, and promote excellence in the broader field of early childhood education.
Head Start has helped more than 40 million children across the US since 1965. The program, serving certain children aged 0-5, is operated through home-based services, center-based services, or a combination of both. Head Start provides many long term-benefits to participating children. Students in early childhood education programs are less likely to repeat grades, are 25 percent more likely to graduate high school, and are four times more likely to complete a bachelor’s degree in comparison to non-Head Start students.
Source: United States House of Representatives – Congresswoman Sharice Davids (KS-3)
WASHINGTON, D.C. — Today, Representative Sharice Davids, Ranking Member of the House Agriculture Subcommittee on General Farm Commodities, Risk Management, and Credit, helped lead a hearingon the U.S. Grain Standards Act (USGSA). The law helps farmers get a fair, consistent price for their crops, both at home and abroad. Davids invitedDr. Kevin Donnelly, Professor Emeritus of Agronomy at Kansas State University, to testify on the university’s nationally recognized grain science programs and the importance of renewing the USGSA to protect reliable, stable export markets.
“I am proud to introduce a Kansan to testify today,” said Davids. “Dr. Kevin Donnelly is an Emeritus Professor of Agronomy at Kansas State University and a farmer in central Kansas. During Dr. Donnelly’s 47-year teaching career, he taught college students about grain quality and grain grading using Federal Grain Inspection Service, known as FGIS, standards. He also conducts workshops illustrating FGIS grain inspection procedures for the International Grains Program at Kansas State University for industry professionals throughout the world.”
“I have long been interested in grain quality, probably stemming from my 4-H and FFA days when my projects involved crop production, and I started exhibiting grain samples at the county fair,” said Dr. Kevin Donnelly during his opening testimony. “As a college professor, I have integrated crop quality topics into several of my courses. We offer three unique degree programs in Grain Science at Kansas State… These programs produce graduates that typically enter industries with a vested interest in quality characteristics as end users of grain and oilseeds.”
WATCH: Davids and Dr. Donnelly speak on the importance of supporting Kansas producers
The USGSA makes sure that when farmers sell their grain — like wheat, corn, or soybeans — it’s measured and graded the same way across the country. That means buyers can trust what they’re getting, and farmers can get a fair price for their crops. The law also helps the U.S. compete in global markets by giving trading partners confidence in the quality of American grain. It’s a key part of keeping our food supply strong and our farm economy stable.
“Kansas is one of the top agricultural states in the country, and our farmers and ranchers feed not just the nation, but the world,” said Davids. “In 2023 alone, Kansas farmers exported $5.2 billion in agricultural products around the world. Whether it’s wheat, sorghum, or soybeans, Kansans know what it means to work hard and produce results. As a member of the House Agriculture Committee, I’ve made it a priority to support family farmers and strengthen our supply chains, because I know how vital they are to rural economies and to our global competitiveness.”
Dr. Donnelly is an Emeritus Professor of Agronomy at Kansas State University with a 47-year teaching career focused on grain quality and crop science. He taught hands-on courses in grain grading and coached competitive crops teams for 30 years. Dr. Donnelly has also led workshops for grain industry professionals from around the world through K-State’s International Grains Program and continues to support their work in retirement.
To support Kansas producers, Davids embarked on a Farm Bill listening tour, where she visited a poultry and livestock operation in Anderson County, a co-op in Franklin County, a goat farm in Miami County, an organic vegetable farm in Johnson County, and an educational community farm in Wyandotte County. Davids also toured a Garnett-based renewable ethanol producer, participated in FFA activities at Spring Hill High School, served a school lunch at Black Bob Elementary in Olathe, spoke with industry leaders on financial support programs for farmers, toured a dairy farm in Garnett, and more.
High-frequency indicators for the first two months of FY26 indicate resilient performance of the domestic economy amid the heightened geopolitical situation, Finance Ministry’s ‘Monthly Economic Review for May 2025’ said on Friday, adding that overall, the outlook for the Indian economy remains positive.
The economy demonstrates resilience amid a turbulent global environment, supported by robust domestic demand, easing inflationary pressures, a resilient external sector, and a steady employment situation.
“The positive trajectory appears to be continuing in FY26, with initial high-frequency indicators (HFI) indicating that economic activity has remained resilient. HFIs such as e-way bill generation, fuel consumption, and PMI indices point to continued resilience,” the Economic Review noted.
Rural demand has strengthened further, supported by a healthy rabi harvest and a positive monsoon outlook. Urban consumption is being supported by increased leisure and business travel, as seen in the rise of air passenger traffic and hotel occupancy.
“However, there are signs of softening in areas like construction inputs and vehicle sales. Retail and food price inflation registered a sustained and broad-based decline in May 2025, driven by robust agricultural production and effective government interventions,” the Economic Review emphasised.
While domestic indicators have remained largely positive, financial markets experienced volatility as a result of external developments. The significant escalation of trade tensions in early 2025, followed by a partial de-escalation in the second quarter, contributed to considerable volatility in the financial markets.
However, the Indian government bond market exhibited stability and certainty in May, driven by factors such as the announcement of a record surplus dividend by the RBI and a robust growth reading of Q4 FY25. Consequently, the risk premium on India’s government bonds decreased to 182 basis points as of May 30.
On the external front, India’s total exports (merchandise and services) recorded a YoY growth rate of 2.8 per cent in May 2025, reflecting the resilience of our exports amid tariff uncertainties and subdued global economic conditions, said the Review.
As of June 13, foreign exchange reserves remain strong, standing at $699 billion, which provides an import cover of 11.5 months. Additionally, the Indian rupee has experienced moderate volatility, in contrast to the more pronounced adjustments observed in other economies.
The labour market indicators show signs of stability. White-collar hiring witnessed a rise in hiring with core sectors such as AI/ML professionals, Insurance, Real Estate, BPO/ITES, and Hospitality leading the hiring growth.
“The employment sub-indices of the PMI indicate strong employment growth, with the employment sub-indices reaching a high. Formal job creation is also on the rise, as indicated by the growing net payroll additions under the Employee Provident Fund Organisation,” the Review noted.
Steady economic performance in FY25 underscores the resilience of domestic growth drivers amid a challenging global environment. Robust private consumption and resilient services sector activity were key contributors to overall economic expansion.
“The positive momentum has been extended into the early months of FY26, as reflected in the performance of high-frequency indicators such as e-way bill generation, fuel consumption and PMI indices among others,” according to the Economic Review.
Source: People’s Republic of China – State Council News
Staff members test an unmanned aerial vehicle in the workshop of the United Aircraft Group in Shenzhen, south China’s Guangdong Province, June 26, 2025. Guangdong has positioned its burgeoning low-altitude economy as a key driver for developing new quality productive forces and cultivating new economic growth points. Shenzhen stands out as China’s “Drone Capital”, boasting a concentration of over 1,700 drone-related enterprises. (Xinhua/Li An)
The Swedish economy is in a protracted recession, but recovery is expected to begin in early 2025. Inflation is expected to be around the inflation target going forward. These are the conclusions of the Ministry of Finance in a new economic forecast.
Source: People’s Republic of China – State Council News
China will further ramp up policy support and reinforce funding for large-scale equipment renewals and consumer goods trade-in programs to boost consumption and stabilize economic growth, officials and experts said.
Amid a complex and challenging external environment, China’s economy is operating on a generally stable trajectory, with policymakers implementing more proactive macroeconomic policies and accelerating measures to stabilize employment and growth, according to the National Development and Reform Commission.
The World Bank and the Organization for Economic Cooperation and Development have recently revised down their global growth forecasts by 0.4 and 0.2 percentage points, respectively, while maintaining largely stable projections for China’s economic growth.
“With new measures being rolled out successively, we have the confidence and capability to minimize uncertainties and adverse impacts from external shocks, thereby promoting sustained and sound economic development,” Li Chao, deputy director of the policy research office of the NDRC, said in Beijing on Thursday.
Funding support for equipment renewal through ultra-long special treasury bonds totals 200 billion yuan ($27.9 billion) this year. The first batch of approximately 173 billion yuan has been allocated to about 7,500 projects across 16 sectors, under the principle of dual review by local and central governments, according to NDRC.
The application for the second batch of funds is currently undergoing concurrent project review and selection, Li added.
“The NDRC will step up whole-process management of large-scale equipment renewal projects, accelerate project construction, enhance fund oversight and roll out discounted-interest loan policy to further reduce financing costs for business entities,” she said.
When it comes to the consumer goods trade-in program, Li said that funding support from ultra-long special treasury bonds totals 300 billion yuan and the third batch of subsidies will be disbursed in July, after the first two batches totaling 162 billion yuan were disbursed in January and April, respectively.
The NDRC will coordinate with relevant agencies to formulate sector-specific monthly and weekly implementation plans for central government subsidies, ensuring orderly year-round execution of the consumer goods trade-in program, Li noted.
“As a key policy instrument, the timely disbursement and effective deployment of central government subsidies in the market demonstrate policy stability and sustainability,” said Zhou Mi, a researcher at the Chinese Academy of International Trade and Economic Cooperation.
Regarding the development of related industries, Zhou said that reinforced policy support will deliver more sustainable assistance to the production and supply ecosystems of consumer goods.
“Enhanced optimization of equipment renewal projects will help lower financing costs for relevant companies, advance technological upgrades and high-end equipment adoption among enterprises, boosting innovation in emerging sectors,” said Wang Peng, a researcher at the Beijing Academy of Social Sciences.
For consumers, Wang said that streamlined subsidy procedures, expanded product choices and balanced fund disbursement will lower the cost of upgrading their consumer goods.
“Driven by the dual engines of investment and consumption, the measures will propel industrial upgrading and green transition, optimizing China’s economic structure,” Wang said.