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Category: Economy

  • MIL-OSI: BAY Miner expands BTC, SOL, and XRP cloud mining services to help users flexibly participate in the digital asset market

    Source: GlobeNewswire (MIL-OSI)

    Jersey City, New Jersey, June 27, 2025 (GLOBE NEWSWIRE) — As major cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP consolidate and experience price fluctuations, a growing number of New Jersey investors are turning to smart contract-based cloud mining platforms seeking low-cost, low-barrier-to-entry methods of participating in the digital asset market. BAY Miner recently announced a major platform upgrade, adding support for multiple major cryptocurrencies and introducing an AI-powered computing power allocation system to improve overall mining efficiency and user experience.

    Amid market shifts, crypto investors are focusing on stable, long-term participation through accessible mining solutions.

    According to data from Cointelegraph and MarketWatch, Bitcoin is currently fluctuating between $106,000 and $112,000. Ethereum (ETH) and Solana are also in a consolidation trend. Against the backdrop of increasing volatility in the stock and real estate markets, cloud mining is becoming a new trend that cryptocurrency investors are paying attention to due to its advantages such as “no equipment, visible daily income, and intelligent automation”.

    BAY Miner Cloud Mining Highlights

    BAY Miner provides a pure cloud-based smart mining service. Users do not need to purchase mining machines or deploy any complex equipment. They can participate using their mobile phones or computers. This upgrade includes:

    – Full support for mainstream crypto assets such as BTC, ETH, SOL, XRP, DOGE, LTC, etc.

    – Introducing AI computing power scheduling system to intelligently optimize output efficiency

    – A variety of flexible contract cycles to meet trial and long-term configuration needs

    – Real-time revenue tracking and contract management on mobile terminals.

    How to Join BAY Miner

    Joining BAY Miner is very easy and suitable for both new and experienced crypto asset participants:

    1. Visit the official website or download the app

    Visit www.bayminer.com or download the official BAY Miner mobile app (supports Android and iOS).

    1. Register an account

    Use your email address to register and set a secure password. After successful registration, users will receive a $15 registration experience bonus.

    1. Select supported cryptocurrencies

    Users can choose mainstream crypto assets such as Bitcoin (BTC), Solana (SOL), XRP, Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), etc.

    1. Select cloud mining contracts

    Choose a suitable flexible contract according to the required cycle and strategy, and you can participate in cloud mining without purchasing equipment.

    1. Top up through supported payment methods

    Use supported cryptocurrencies to top up your account, without purchasing mining machines, lowering the threshold for participation..

    1. Start cloud mining and track progress in real time

    After the contract takes effect, users can view the mining progress and participation status in real time through the web or mobile terminal, and the information is transparent and clear.
    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
    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.

    Click here for full contract details

    “Our goal is to make crypto mining simple and accessible,” said a BAY Miner spokesperson. “Users can mine BTC, SOL, and XRP without hardware, using flexible cloud-based options anytime.”

    Customized solutions for individual and institutional users

    BAY Miner is particularly suitable for high-income individuals with limited free time, small and medium-sized business owners, and financial professionals who have digital asset allocation needs. The platform provides a “trial contract” model to help users familiarize themselves with the platform with a low threshold and gradually expand their participation.

    Future-oriented digital asset participation methods

    BAY Miner’s pure cloud architecture eliminates the technical barriers and equipment costs of building your own mining system. With the expansion of North American server layout and the improvement of system stability, BAY Miner is committed to providing a safe, intelligent and efficient cloud mining experience for investors in America and around the world.

    Conclusion

    BAY Miner is committed to simplifying the cloud cryptocurrency mining experience and providing users with a safe, device-free way to participate in the digital asset market. New users can get a $15 registration bonus when they register. Crypto enthusiasts are welcome to participate in smart cloud mining of mainstream crypto assets such as BTC, SOL, XRP, etc. through BAY Miner anytime, anywhere.

    Media Contact:
    BAY Miner
    info@bayminer.com
    www.bayminer.com

    Click to download the mobile app: https://bayminer.com/app/download

    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.

    Attachment

    The MIL Network –

  • MIL-OSI: BAY Miner expands BTC, SOL, and XRP cloud mining services to help users flexibly participate in the digital asset market

    Source: GlobeNewswire (MIL-OSI)

    Jersey City, New Jersey, June 27, 2025 (GLOBE NEWSWIRE) — As major cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP consolidate and experience price fluctuations, a growing number of New Jersey investors are turning to smart contract-based cloud mining platforms seeking low-cost, low-barrier-to-entry methods of participating in the digital asset market. BAY Miner recently announced a major platform upgrade, adding support for multiple major cryptocurrencies and introducing an AI-powered computing power allocation system to improve overall mining efficiency and user experience.

    Amid market shifts, crypto investors are focusing on stable, long-term participation through accessible mining solutions.

    According to data from Cointelegraph and MarketWatch, Bitcoin is currently fluctuating between $106,000 and $112,000. Ethereum (ETH) and Solana are also in a consolidation trend. Against the backdrop of increasing volatility in the stock and real estate markets, cloud mining is becoming a new trend that cryptocurrency investors are paying attention to due to its advantages such as “no equipment, visible daily income, and intelligent automation”.

    BAY Miner Cloud Mining Highlights

    BAY Miner provides a pure cloud-based smart mining service. Users do not need to purchase mining machines or deploy any complex equipment. They can participate using their mobile phones or computers. This upgrade includes:

    – Full support for mainstream crypto assets such as BTC, ETH, SOL, XRP, DOGE, LTC, etc.

    – Introducing AI computing power scheduling system to intelligently optimize output efficiency

    – A variety of flexible contract cycles to meet trial and long-term configuration needs

    – Real-time revenue tracking and contract management on mobile terminals.

    How to Join BAY Miner

    Joining BAY Miner is very easy and suitable for both new and experienced crypto asset participants:

    1. Visit the official website or download the app

    Visit www.bayminer.com or download the official BAY Miner mobile app (supports Android and iOS).

    1. Register an account

    Use your email address to register and set a secure password. After successful registration, users will receive a $15 registration experience bonus.

    1. Select supported cryptocurrencies

    Users can choose mainstream crypto assets such as Bitcoin (BTC), Solana (SOL), XRP, Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), etc.

    1. Select cloud mining contracts

    Choose a suitable flexible contract according to the required cycle and strategy, and you can participate in cloud mining without purchasing equipment.

    1. Top up through supported payment methods

    Use supported cryptocurrencies to top up your account, without purchasing mining machines, lowering the threshold for participation..

    1. Start cloud mining and track progress in real time

    After the contract takes effect, users can view the mining progress and participation status in real time through the web or mobile terminal, and the information is transparent and clear.
    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
    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.

    Click here for full contract details

    “Our goal is to make crypto mining simple and accessible,” said a BAY Miner spokesperson. “Users can mine BTC, SOL, and XRP without hardware, using flexible cloud-based options anytime.”

    Customized solutions for individual and institutional users

    BAY Miner is particularly suitable for high-income individuals with limited free time, small and medium-sized business owners, and financial professionals who have digital asset allocation needs. The platform provides a “trial contract” model to help users familiarize themselves with the platform with a low threshold and gradually expand their participation.

    Future-oriented digital asset participation methods

    BAY Miner’s pure cloud architecture eliminates the technical barriers and equipment costs of building your own mining system. With the expansion of North American server layout and the improvement of system stability, BAY Miner is committed to providing a safe, intelligent and efficient cloud mining experience for investors in America and around the world.

    Conclusion

    BAY Miner is committed to simplifying the cloud cryptocurrency mining experience and providing users with a safe, device-free way to participate in the digital asset market. New users can get a $15 registration bonus when they register. Crypto enthusiasts are welcome to participate in smart cloud mining of mainstream crypto assets such as BTC, SOL, XRP, etc. through BAY Miner anytime, anywhere.

    Media Contact:
    BAY Miner
    info@bayminer.com
    www.bayminer.com

    Click to download the mobile app: https://bayminer.com/app/download

    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.

    Attachment

    The MIL Network –

  • MIL-OSI: US Bad Credit and Loan with Guaranteed Approval Announced as Key Feature in Honest Loans with Instant Loan for up to $5,000 in 2025

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, June 27, 2025 (GLOBE NEWSWIRE) — Facing a financial emergency with bad credit can be overwhelming—but there’s good news. We’ve rounded up the ideal U.S. payday loan providers offering guaranteed approval for loans up to $5,000, even if your credit history is less than perfect.

    These lenders don’t require a credit check, making their services accessible to virtually anyone—whether you’re unemployed, have poor credit, or no credit history at all.

    Designed to bridge the gap between urgent expenses and limited funds, these loans provide a fast, reliable way to get the help you need when it matters most.

    Ideal Pick: Bad Credit Personal Loans with Guaranteed Approval up to $5,000

    Honest Loans – Flexible Personal Loan Lenders

    Press the link above to learn more about the ideal lender that fits your personal loan needs, offering guaranteed approval. In most cases, loan approval is granted within 1–2 hours after completing the application.

    Want to explore more options before deciding? Keep reading for a detailed comparison:

    Honest Loans: Known for their flexibility in offering personal loans tailored to various financial situations.

    If you’re facing a financial crunch and need quick access to funds, Honest Loans is a reliable option worth considering. With loan amounts of up to $5,000, Honest Loans offers a fast and flexible solution—even if you have a bad credit history.

    Why Honest Loans stands out for personal loan needs:

    • Secure and user-friendly website
    • Fast approval decisions
    • Quick funding—often within hours
    • No need for in-person visits or waiting in lines
    • Simple and hassle-free application process

    Thanks to its intuitive platform and commitment to speed, Honest Loans is a ideal choice for bad credit personal loans, offering guaranteed approvals up to $5,000 at competitive rates.

    Apply for Payday Loans with No Credit Check – Get Approved in 1 Hour

    What Is a Payday Loan?

    A payday loan is a short-term borrowing solution designed to provide quick access to cash when you need it most. Typically ranging from a few hundred to a few thousand dollars, payday loans are intended to be repaid by your next paycheck—hence the name.

    This type of loan is particularly helpful for individuals who may not qualify for traditional credit options, such as bank loans, due to poor credit history, low income, or unemployment. The application process is straightforward and usually requires proof of income, a valid ID, and an active bank account, among other basic requirements.

    How Do Payday Loans Work?

    Payday loans operate similarly to standard loan services but with significantly less complexity. You start by submitting an online application. If your information meets the eligibility criteria, your loan is quickly approved and the funds are deposited directly into your bank account—often within the same day.

    Unlike traditional bank loans, payday loans don’t require extensive paperwork or in-person visits. The entire process—from application to approval and disbursement—is fully digital and often automated, making it fast and hassle-free.

    Once your loan is approved, you’ll receive the full terms of the agreement. You can then check the repayment conditions and decide whether to accept or decline the offer based on your financial situation.

    Qualifications for Payday Personal Loans

    Just like conventional loans, payday personal loans have specific qualifications that borrowers must meet. These typically include:

    • Being a U.S. citizen or permanent resident
    • Being at least 18 years old
    • Having a verifiable source of income
    • Possessing an active bank account
    • Providing a valid phone number or email for communication

    These basic requirements make payday loans highly accessible, contributing to their high approval rates.

    Do Credit Scores Matter for Payday Loans?

    Your credit score reflects your creditworthiness based on your financial history. However, for payday loans, credit scores are usually not a critical factor.

    Most payday lenders perform only a soft credit check, which doesn’t affect your score. These checks are primarily used to verify identity and assess general risk, making the process easier for those with bad or no credit.

    While credit scores may not be required, your payday loan activity can still impact your credit. Repaying your loan on time can help improve your credit history. In fact, payday loans can serve as a starting point for building a credit profile if you have none.

    How Payday Loans Differ from Conventional Loans

    Payday loans differ from traditional loans in several important ways:

    • Loan Amounts: Payday loans are typically for smaller sums—often a few hundred to a few thousand dollars—whereas conventional loans can range into the tens or hundreds of thousands.
    • Repayment Terms: Payday loans are usually due on your next payday, making them short-term. Conventional loans, by contrast, offer longer repayment periods ranging from several months to many years.
    • Interest Rates: Payday loans have significantly higher interest rates and fees due to their short-term nature and higher lending risk. Conventional loans tend to have much lower rates, especially for borrowers with good credit.
    • Credit Checks: While payday lenders often skip hard credit checks, traditional lenders require thorough checks and sometimes collateral, especially for larger amounts.
    • Approval Time: Payday loans are typically approved and funded within a few hours, making them ideal for urgent needs. Traditional loans can take days or weeks to process.
    • Eligibility Requirements: Payday loans are designed to accommodate individuals with poor credit, limited income, or no credit history. Traditional loans are generally reserved for those with stronger financial profiles.
    • Use of Funds: Payday loans are mostly used to cover emergency expenses or unexpected bills. Conventional loans are used for significant financial commitments, like purchasing a car, home, or paying for education.

    Find 1-Hour Payday Loans with No Credit Check Today

    Regulation of Payday Loans

    Due to concerns about high interest rates and borrower risk, payday loans are subject to strict regulations in many states. Some states limit the maximum loan amount, fees, or the number of loans a borrower can take at once. Others have banned payday loans entirely.

    It’s important to check your state’s specific laws before applying to ensure eligibility and understand the terms.

    Pros and Cons of Payday Loans

    ✅ Benefits:

    • Fast Approval: Loans are often approved and funded on the same day.
    • No Credit Check Required: Ideal for individuals with bad credit or no credit history.
    • Flexible Eligibility: Basic requirements make them accessible to most borrowers.
    • Small Loan Amounts: Great for covering short-term, urgent expenses.
    • Convenience: Entire process can be completed online without visiting a physical location.

    ❌ Drawbacks:

    • Risk of Debt Cycle: Short repayment terms and high fees can lead to repeated borrowing.
    • High Interest Rates: Often significantly higher than conventional loans, with APRs ranging from 300% to 400% or more.

    FAQs

    What happens if I default on a payday loan?

    If you fail to repay a payday loan on time, you may incur late fees, increased interest charges, and potentially damage your credit score. This can negatively affect your credit history, making it harder to borrow from other lenders in the future. In some cases, lenders may attempt to recover the loan through alternative collection methods, including direct withdrawals or third-party debt collection services.

    Can I get a payday loan with bad credit?

    Yes, many payday lenders approve loans for borrowers with poor or no credit history. Most do not require a traditional credit check, meaning your credit score may not significantly impact your eligibility. Approval is often based on your income and ability to repay rather than your credit profile.

    How fast can I receive a payday loan?

    Payday loans are designed for speed and convenience. Most lenders offer same-day or next-day funding, especially for online applications. After submitting your application, you can receive a decision within minutes or a few hours. If approved, the funds are typically deposited into your bank account the same day or by the next business day.

    Contact Information

    Company Name: Honest Loans
    Email: support@onlineloannetwork.com
    Phone: 888-718-9134
    Mailing Address: Springates Building, Lower Government Road, Charlestown, Saint Kitts and Nevis

    Disclaimer & Affiliate Disclosure

    This content is provided for informational and commercial purposes only and should not be interpreted as financial, legal, or professional advice. It does not constitute an endorsement of any specific lender or financial product.

    While we strive to ensure the accuracy, relevance, and timeliness of the information shared, we cannot guarantee its completeness or reliability. We strongly encourage readers to conduct their own due diligence and seek personalized guidance from licensed financial advisors, legal professionals, or other qualified experts before making financial decisions.

    Please be advised:

    • Loan products and services referenced may not be suitable for all individuals.
    • Terms, conditions, and eligibility requirements vary by lender, state regulations, and applicant profile.
    • Loan approval is not guaranteed and may depend on several factors, including but not limited to income, creditworthiness, residency status, and identity verification.

    This article may include affiliate links. If you press on one of these links and choose to apply for or purchase a product or service, we may receive a commission at no additional cost to you. This compensation does not influence the content’s integrity, and all opinions expressed remain unbiased and general in nature.

    By using or relying on this content, you agree that the publisher, authors, affiliates, and third-party partners shall not be held liable for any inaccuracies, omissions, or financial consequences arising from your use of the information presented. This includes—but is not limited to—loan denials, contractual disputes, or outcomes related to lender agreements.

    Mentions of companies such as “Honest Loans” are for comparison and informational purposes only and do not imply any legal partnership, endorsement, or affiliation. For questions related to specific loan products, please contact the lender directly using official channels.

    All brand names, trademarks, and service marks remain the intellectual property of their respective owners.

    Attachment

    The MIL Network –

  • MIL-OSI: SUNation Energy Terminates Series A Warrants Removing Potential Dilution of 652,174 Shares

    Source: GlobeNewswire (MIL-OSI)

    RONKONKOMA, N.Y., June 27, 2025 (GLOBE NEWSWIRE) — SUNation Energy, Inc. (Nasdaq: SUNE) (“the Company”), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today announced that it has terminated all of the outstanding Series A Common Stock Purchase Warrants (“Series A Warrants”) issued in connection with a previously announced Registered Direct Offering of February 27, 2025. Pursuant to agreements with the holders of the Series A Warrants dated June 26, 2025, the Series A Warrants were terminated in exchange for a one-time termination payment of approximately $267,392.  

    “The transaction eliminates the overhang created by the Series A Warrants by ensuring that up to 652,174 shares of stock underlying those warrants will no longer be able to enter the market,” said Scott Maskin, Chief Executive Officer. “In addition to removing a significant source of potential dilution, we have streamlined our capital structure and enhanced our financial flexibility. We appreciate the support of our Series A Warrant holders during this process.”

    For additional details related to the termination of the Series A Warrants, please refer to the Company’s Form 8-K filed with the SEC on June 26, 2025.

    About SUNation Energy, Inc.

    SUNation Energy, Inc. is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services. SUNation Energy, Inc.’s largest markets include New York, Florida, and Hawaii, and the company operates in three (3) states.

    Forward Looking Statements 

    Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company’s filings with the SEC which can be found on the SEC’s website at www.sec.gov.

    The MIL Network –

  • MIL-OSI Economics: ICC and World Bank Group join forces to empower SMEs in emerging markets

    Source: International Chamber of Commerce

    Headline: ICC and World Bank Group join forces to empower SMEs in emerging markets

    Formalised today at ICC Global Headquarters in Paris, the non-binding partnership sets out key areas to enable SMEs by harnessing ICC’s global network of over 45 million companies and chambers and the development expertise and reach of the World Bank Group institutions – including the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the International Centre for Settlement of Investment Disputes (ICSID). 

    World Bank Group President Ajay Banga said:

    “Over the past year, we’ve put jobs at the centre of our global mission to end poverty. Small and medium enterprises account for nearly three quarters of employment in emerging markets. This partnership will help drive the creation of jobs by combining the power of ICC’s 45 million SMEs in 170 countries with the World Bank Group’s global knowledge, financial capacity, and public and private sector networks.” 

    ICC Secretary General John W.H. Denton AO said: 

    “ICC is uniquely positioned not only to identify the systemic barriers facing SMEs around the world, but also to deliver ways to remove them. Today we are marking a bold step forward in equipping SMEs to meet today’s economic challenges by converting the combined expertise and networks of ICC and World Bank Group into impact at scale.”

    An estimated 1.2 billion young people are expected to enter the workforce in emerging markets and developing economies in coming years, yet projections suggest that only just over 400 million jobs will be created. Strengthening SMEs is vital given that they represent 95% of all firms and account for 70% of employment in these economies.

    The ICC-World Bank Group agreement underscores a mutual commitment to promoting inclusive economic opportunity, enhancing the resilience of small businesses and accelerating progress toward the Sustainable Development Goals (SDGs). Initial activities will focus on trade facilitation, upskilling, digitalisation and improved access to finance with a group of pilot countries – Argentina, Bangladesh, Colombia, Indonesia, Kenya and Nigeria.

    MIL OSI Economics –

  • MIL-OSI Analysis: Jews were barred from Spain’s New World colonies − but that didn’t stop Jewish and converso writers from describing the Americas

    Source: The Conversation – USA – By Flora Cassen, Senior Faculty, Hartman Institute and Associate Professor of History and Jewish Studies, Washington University in St. Louis

    An auto-da-fé − a public punishment for heretics − in San Bartolome Otzolotepec, in present-day Mexico. Museo Nacional de Arte via Wikimedia Commons

    Every few years, a story about Columbus resurfaces: Was the Genoese navigator who claimed the Americas for Spain secretly Jewish, from a Spanish family fleeing the Inquisition?

    This tale became widespread around the late 19th century, when large numbers of Jews came from Russia and Eastern Europe to the United States. For these immigrants, 1492 held double significance: the year of Jews’ expulsion from Spain, as well as Columbus’ voyage of discovery. At a time when many Americans viewed the explorer as a hero, the idea that he might have been one of their own offered Jewish immigrants a link to the beginnings of their new country and the American story of freedom from Old World tyranny.

    The problem with the Columbus-was-a-Jew theory isn’t just that it’s based on flimsy evidence. It also distracts from the far more complex and true story of Spanish Jews in the Americas.

    In the 15th century, the kingdom’s Jews faced a wrenching choice: convert to Christianity or leave the land their families had called home for generations. Portugal’s Jews faced similar persecution. Whether they sought a new place to settle or stayed and hoped to be accepted as members of Christian society, both groups were searching for belonging.

    Jewish religious items at the Museo Metropolitano in Monterrey, Mexico.
    Thelmadatter/Wikimedia Commons, CC BY-SA

    We are scholars of Jewish history and have been working on the first English translations of two texts from the 16th century. “The Book of New India,” by Joseph Ha-Kohen, and the spiritual writings of Luis de Carvajal are two of the earliest Jewish texts about the Americas.

    The story of the New World is not complete without the voices of Jewish communities that engaged with it from the very beginning.

    Double consciousness

    The first Jews in the Americas were, in fact, not Jews but “conversos,” meaning “converts,” and their descendants.

    After a millennium of relatively peaceful and prosperous life on Iberian soil, the Jews of Spain were attacked by a wave of mob violence in the summer of 1391. Afterward, thousands of Jews were forcibly converted.

    Synagogue of El Tránsito, a 14th-century Jewish congregation in Toledo, Spain.
    Selbymay/Wikimedia Commons, CC BY-SA

    While conversos were officially members of the Catholic Church, neighbors looked at them with suspicion. Some of these converts were “crypto-Jews,” who secretly held on to their ancestral faith. Spanish authorities formed the Inquisition to root out anyone the church considered heretics, especially people who had converted from Judaism and Islam.

    In 1492, after conquering the last Muslim stronghold in Spain, monarchs Ferdinand and Isabella gave the remaining Spanish Jews the choice of conversion or exile. Eventually, people who converted from Islam would be expelled as well.

    Among Jews who converted, some sought new lives within the rapidly expanding Spanish empire. As the historian Jonathan Israel wrote, Jews and conversos were both “agents and victims of empire.” Their familiarity with Iberian language and culture, combined with the dispersion of their community, positioned them to participate in the new global economy: trade in sugar, textiles, spices – and the trade in human lives, Atlantic slavery.

    Yet conversos were also far more vulnerable than their compatriots: They could lose it all, even end up burned alive at the stake, because of their beliefs. This double consciousness – being part of the culture, yet apart from it – is what makes conversos vital to understanding the complexities of colonial Latin America.

    By the 17th century, once the Dutch and the English conquered parts of the Americas, Jews would be able to live there. Often, these were families whose ancestors had been expelled from the Iberian peninsula. In the first Spanish and Portuguese colonies, however, Jews were not allowed to openly practice their faith.

    Secret spirituality

    One of these conversos was Luis de Carvajal. His uncle, the similarly named Luis de Carvajal y de la Cueva, was a merchant, slave trader and conquistador. As a reward for his exploits he was named governor of the New Kingdom of León, in the northeast of modern-day Mexico. In 1579 he brought over a large group of relatives to help him settle and administer the rugged territory, which was made up of swamps, deserts and silver mines.

    A statue in Monterrey, Mexico, of Luis Carvajal y de la Cueva.
    Ricardo DelaG/Wikimedia Commons, CC BY-SA

    The uncle was a devout Catholic who attempted to shed his converso past, integrating himself into the landed gentry of Spain’s New World empire. Luis the younger, however, his potential heir, was a passionate crypto-Jew who spent his free time composing prayers to the God of Israel and secretly following the commandments of the Torah.

    When Luis and his family were arrested by the Inquisition in 1595, his book of spiritual writings was discovered and used as evidence of his secret Jewish life. Luis, his mother and sister were burned at the stake, but the small, leather-bound diary survived.

    A 19th-century depiction of the execution of Luis de Carvajal the Younger’s sister.
    ‘El Libro Rojo, 1520-1867’ via Wikimedia Commons

    Luis’ religious thought drew on a wide range of early modern Spanish culture. He used a Latin Bible and drew inspiration from the inwardly focused spirituality of Catholic thinkers such as Fray Luis de Granada, a Dominican theologian. He met with the hermit and mystic Gregorio López. He discovered passages from Maimonides and other rabbis quoted in the works of Catholic theologians whom he read at the famed monastery of Santiago de Tlatelolco, in Mexico City, where he worked as an assistant to the rector.

    His spiritual writings are deeply American: The wide deserts and furious hurricanes of Mexico were the setting of his spiritual awakenings, and his encounters with the people and cultures of the emerging Atlantic world shaped his religious vision. This little book is a unique example of the brilliant, creative culture that developed in the crossing from Old World to New, born out of the exchange and conflict between diverse cultures, languages and faiths.

    A glimpse of Luis de Carvajal’s spiritual writings, photographed in New York City.
    Ronnie Perelis

    More than translation

    Spanish Jews who refused to convert in 1492, meanwhile, had been forced into exile and barred from the kingdom’s colonies.

    The journey of Joseph Ha-Kohen’s family illustrates the hardships. After the expulsion, his parents moved to Avignon, the papal city in southern France, where Joseph was born in 1496. From there, they made their way to Genoa, the Italian merchant city, hoping to establish themselves. But it was not to be. The family was repeatedly expelled, permitted to return, and then expelled again.

    Despite these upheavals, Ha-Kohen became a doctor and a merchant, a leader in the Jewish community – earning the respect of the Christian community, too. Toward the end of his life, he settled in a small mountain town beyond the city’s borders and turned to writing.

    After a book on wars between Christianity and Islam, and another one on the history of the Jews, he began a new project. Ha-Kohen adapted “Historia General de las Indias,” an account of the Americas’ colonization by Spanish historian Francisco López de Gómara, reshaping the text for a Jewish audience.

    A 1733 edition of ‘Divrei Ha-Yamim,’ Ha-Kohen’s book about wars between Christian and Muslim cultures.
    John Carter Brown Library via Wikimedia Commons

    Ha-Kohen’s work was the first Hebrew-language book about the Americas. The text was hundreds of pages long – and he copied his entire manuscript nine times by hand. He had never seen the Americas, but his own life of repeated uprooting may have led him to wonder whether Jews would one day seek refuge there.

    Ha-Kohen wanted his readers to have access to the text’s geographical, botanical and anthropological information, but not to Spain’s triumphalist narrative. So he created an adapted, hybrid translation. The differences between versions reveal the complexities of being a European Jew in the age of exploration.

    Ha-Kohen omitted references to the Americas as Spanish territory and criticized the conquistadors for their brutality toward Indigenous peoples. At times, he compared Native Americans with the ancient Israelites of the Bible, feeling a kinship with them as fellow victims of oppression. Yet at other moments he expressed estrangement and even revulsion at Indigenous customs and described their religious practices as “darkness.”

    Translating these men’s writing is not just a matter of bringing a text from one language into another. It is also a deep reflection on the complex position of Jews and conversos in those years. Their unique vantage point offers a window into the intertwined histories of Europe, the Americas and the in-betweenness that marked the Jewish experience in the early modern world.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Jews were barred from Spain’s New World colonies − but that didn’t stop Jewish and converso writers from describing the Americas – https://theconversation.com/jews-were-barred-from-spains-new-world-colonies-but-that-didnt-stop-jewish-and-converso-writers-from-describing-the-americas-258278

    MIL OSI Analysis –

  • MIL-OSI Analysis: Jews were barred from Spain’s New World colonies − but that didn’t stop Jewish and converso writers from describing the Americas

    Source: The Conversation – USA – By Flora Cassen, Senior Faculty, Hartman Institute and Associate Professor of History and Jewish Studies, Washington University in St. Louis

    An auto-da-fé − a public punishment for heretics − in San Bartolome Otzolotepec, in present-day Mexico. Museo Nacional de Arte via Wikimedia Commons

    Every few years, a story about Columbus resurfaces: Was the Genoese navigator who claimed the Americas for Spain secretly Jewish, from a Spanish family fleeing the Inquisition?

    This tale became widespread around the late 19th century, when large numbers of Jews came from Russia and Eastern Europe to the United States. For these immigrants, 1492 held double significance: the year of Jews’ expulsion from Spain, as well as Columbus’ voyage of discovery. At a time when many Americans viewed the explorer as a hero, the idea that he might have been one of their own offered Jewish immigrants a link to the beginnings of their new country and the American story of freedom from Old World tyranny.

    The problem with the Columbus-was-a-Jew theory isn’t just that it’s based on flimsy evidence. It also distracts from the far more complex and true story of Spanish Jews in the Americas.

    In the 15th century, the kingdom’s Jews faced a wrenching choice: convert to Christianity or leave the land their families had called home for generations. Portugal’s Jews faced similar persecution. Whether they sought a new place to settle or stayed and hoped to be accepted as members of Christian society, both groups were searching for belonging.

    Jewish religious items at the Museo Metropolitano in Monterrey, Mexico.
    Thelmadatter/Wikimedia Commons, CC BY-SA

    We are scholars of Jewish history and have been working on the first English translations of two texts from the 16th century. “The Book of New India,” by Joseph Ha-Kohen, and the spiritual writings of Luis de Carvajal are two of the earliest Jewish texts about the Americas.

    The story of the New World is not complete without the voices of Jewish communities that engaged with it from the very beginning.

    Double consciousness

    The first Jews in the Americas were, in fact, not Jews but “conversos,” meaning “converts,” and their descendants.

    After a millennium of relatively peaceful and prosperous life on Iberian soil, the Jews of Spain were attacked by a wave of mob violence in the summer of 1391. Afterward, thousands of Jews were forcibly converted.

    Synagogue of El Tránsito, a 14th-century Jewish congregation in Toledo, Spain.
    Selbymay/Wikimedia Commons, CC BY-SA

    While conversos were officially members of the Catholic Church, neighbors looked at them with suspicion. Some of these converts were “crypto-Jews,” who secretly held on to their ancestral faith. Spanish authorities formed the Inquisition to root out anyone the church considered heretics, especially people who had converted from Judaism and Islam.

    In 1492, after conquering the last Muslim stronghold in Spain, monarchs Ferdinand and Isabella gave the remaining Spanish Jews the choice of conversion or exile. Eventually, people who converted from Islam would be expelled as well.

    Among Jews who converted, some sought new lives within the rapidly expanding Spanish empire. As the historian Jonathan Israel wrote, Jews and conversos were both “agents and victims of empire.” Their familiarity with Iberian language and culture, combined with the dispersion of their community, positioned them to participate in the new global economy: trade in sugar, textiles, spices – and the trade in human lives, Atlantic slavery.

    Yet conversos were also far more vulnerable than their compatriots: They could lose it all, even end up burned alive at the stake, because of their beliefs. This double consciousness – being part of the culture, yet apart from it – is what makes conversos vital to understanding the complexities of colonial Latin America.

    By the 17th century, once the Dutch and the English conquered parts of the Americas, Jews would be able to live there. Often, these were families whose ancestors had been expelled from the Iberian peninsula. In the first Spanish and Portuguese colonies, however, Jews were not allowed to openly practice their faith.

    Secret spirituality

    One of these conversos was Luis de Carvajal. His uncle, the similarly named Luis de Carvajal y de la Cueva, was a merchant, slave trader and conquistador. As a reward for his exploits he was named governor of the New Kingdom of León, in the northeast of modern-day Mexico. In 1579 he brought over a large group of relatives to help him settle and administer the rugged territory, which was made up of swamps, deserts and silver mines.

    A statue in Monterrey, Mexico, of Luis Carvajal y de la Cueva.
    Ricardo DelaG/Wikimedia Commons, CC BY-SA

    The uncle was a devout Catholic who attempted to shed his converso past, integrating himself into the landed gentry of Spain’s New World empire. Luis the younger, however, his potential heir, was a passionate crypto-Jew who spent his free time composing prayers to the God of Israel and secretly following the commandments of the Torah.

    When Luis and his family were arrested by the Inquisition in 1595, his book of spiritual writings was discovered and used as evidence of his secret Jewish life. Luis, his mother and sister were burned at the stake, but the small, leather-bound diary survived.

    A 19th-century depiction of the execution of Luis de Carvajal the Younger’s sister.
    ‘El Libro Rojo, 1520-1867’ via Wikimedia Commons

    Luis’ religious thought drew on a wide range of early modern Spanish culture. He used a Latin Bible and drew inspiration from the inwardly focused spirituality of Catholic thinkers such as Fray Luis de Granada, a Dominican theologian. He met with the hermit and mystic Gregorio López. He discovered passages from Maimonides and other rabbis quoted in the works of Catholic theologians whom he read at the famed monastery of Santiago de Tlatelolco, in Mexico City, where he worked as an assistant to the rector.

    His spiritual writings are deeply American: The wide deserts and furious hurricanes of Mexico were the setting of his spiritual awakenings, and his encounters with the people and cultures of the emerging Atlantic world shaped his religious vision. This little book is a unique example of the brilliant, creative culture that developed in the crossing from Old World to New, born out of the exchange and conflict between diverse cultures, languages and faiths.

    A glimpse of Luis de Carvajal’s spiritual writings, photographed in New York City.
    Ronnie Perelis

    More than translation

    Spanish Jews who refused to convert in 1492, meanwhile, had been forced into exile and barred from the kingdom’s colonies.

    The journey of Joseph Ha-Kohen’s family illustrates the hardships. After the expulsion, his parents moved to Avignon, the papal city in southern France, where Joseph was born in 1496. From there, they made their way to Genoa, the Italian merchant city, hoping to establish themselves. But it was not to be. The family was repeatedly expelled, permitted to return, and then expelled again.

    Despite these upheavals, Ha-Kohen became a doctor and a merchant, a leader in the Jewish community – earning the respect of the Christian community, too. Toward the end of his life, he settled in a small mountain town beyond the city’s borders and turned to writing.

    After a book on wars between Christianity and Islam, and another one on the history of the Jews, he began a new project. Ha-Kohen adapted “Historia General de las Indias,” an account of the Americas’ colonization by Spanish historian Francisco López de Gómara, reshaping the text for a Jewish audience.

    A 1733 edition of ‘Divrei Ha-Yamim,’ Ha-Kohen’s book about wars between Christian and Muslim cultures.
    John Carter Brown Library via Wikimedia Commons

    Ha-Kohen’s work was the first Hebrew-language book about the Americas. The text was hundreds of pages long – and he copied his entire manuscript nine times by hand. He had never seen the Americas, but his own life of repeated uprooting may have led him to wonder whether Jews would one day seek refuge there.

    Ha-Kohen wanted his readers to have access to the text’s geographical, botanical and anthropological information, but not to Spain’s triumphalist narrative. So he created an adapted, hybrid translation. The differences between versions reveal the complexities of being a European Jew in the age of exploration.

    Ha-Kohen omitted references to the Americas as Spanish territory and criticized the conquistadors for their brutality toward Indigenous peoples. At times, he compared Native Americans with the ancient Israelites of the Bible, feeling a kinship with them as fellow victims of oppression. Yet at other moments he expressed estrangement and even revulsion at Indigenous customs and described their religious practices as “darkness.”

    Translating these men’s writing is not just a matter of bringing a text from one language into another. It is also a deep reflection on the complex position of Jews and conversos in those years. Their unique vantage point offers a window into the intertwined histories of Europe, the Americas and the in-betweenness that marked the Jewish experience in the early modern world.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Jews were barred from Spain’s New World colonies − but that didn’t stop Jewish and converso writers from describing the Americas – https://theconversation.com/jews-were-barred-from-spains-new-world-colonies-but-that-didnt-stop-jewish-and-converso-writers-from-describing-the-americas-258278

    MIL OSI Analysis –

  • MIL-OSI: Amid Market Volatility, Topnotch Crypto Launches Predictive Yield-Switching Contracts to Maximize Returns from Cloud Mining in 2025

    Source: GlobeNewswire (MIL-OSI)

    New York, June 27, 2025 (GLOBE NEWSWIRE) — With the cryptocurrency market facing a period of instability and investor uncertainty, Topnotch Crypto is proud to announce the launch of its new “Adaptive Yield” contracts. These innovative plans leverage proprietary Predictive Yield-Switching Technology to automatically shift between cloud mining and staking protocols, seeking to provide users with stable and optimized returns despite market fluctuations.

    This initiative, powered entirely by geothermal and solar energy, offers a secure and intelligent strategy for both new and experienced participants in the digital asset space.

    A Proactive Strategy for a Shifting Market

    As digital asset valuations see-saw, passive earning strategies face new challenges. Topnotch Crypto’s Adaptive Yield contracts are engineered to address this volatility head-on. The system’s underlying AI analyzes dozens of data points—including network difficulty, transaction fees, and staking reward rates—to dynamically allocate customer funds to the most profitable activity at any given moment, whether it’s mining established coins or staking emerging tokens.

    Highlights of the Adaptive Yield Contracts:

    Predictive Yield-Switching: Proprietary AI technology automatically moves between the most profitable mining and staking opportunities to maximize Annual Percentage Yield (APY).
    Diversified Portfolio: Contracts are not limited to a single cryptocurrency, offering exposure to a blended portfolio of digital assets to mitigate risk.
    Eco-Friendly Operations: All operations are backed by 100% renewable energy sources, ensuring low operational costs and a minimal environmental footprint.
    Flexible Tiers: A range of contract durations and investment levels are available to suit diverse financial goals and risk appetites.

    Contract Details:

    ⦁ New User Experience Contract : Investment amount: $100, total profit: $100 + $8.

    ⦁ Elphapex DG1+ : Investment amount: $500, total profit: $500 + $43.75.

    ⦁ WhatsMiner M30S : Investment amount: $1,100, total profit: $1,100 + $222.75.

    ⦁ Avalon Miner A1666 : Investment amount: $3,000, total profit: $3,000 + $756.

    ⦁ WhatsMiner M63 Hydro : Investment amount: $10,000, total profit: $10,000 + $4,650.

    ⦁ ANTSPACE HK3 ： Investment amount: $30,000, total profit: $30,000 + $22,275.

    ⦁ Canaan Avalon Immersion Box : Investment amount: $100,000, total profit: $100,000 + $90,000.

    Key strategies to achieve explosive returns:

    Reinvestment of profits: Daily profits (e.g. $100,000 contract, $1,800 profit per day) can be invested in other levels of contracts to increase profits.

    Click here for full contract details

    Security, Transparency, and User Experience

    Topnotch Crypto prioritizes the safety of user assets and the clarity of its operations. Key features include:

    Institutional-Grade Security: Utilizes multi-signature cold storage wallets and is fortified by advanced DDoS protection and encryption standards.
    Intuitive Dashboard: A clean, user-friendly interface allows for one-click contract activation, real-time monitoring of earnings, and transparent reporting on all automated switches between mining and staking.
    Effortless Onboarding: Getting started is simple. No hardware or technical expertise is required. Users can register, deposit funds, and activate a contract in minutes.

    How to Participate:

    Visit the official Topnotch Crypto website or download the mobile application.
    Complete the secure registration process.
    Select an Adaptive Yield contract that aligns with your investment strategy.
    Track your earnings and manage your portfolio through the user dashboard.

    Final Thoughts

    Topnotch Crypto’s launch of Adaptive Yield contracts represents a significant step forward in making passive crypto earning more resilient and intelligent. By combining predictive technology with a commitment to sustainability and security, the platform offers a robust solution for navigating the complexities of the current cryptocurrency market.

    About Topnotch Crypto

    Topnotch Crypto is a global leader in providing secure, efficient, and sustainable cryptocurrency earning solutions. By integrating cutting-edge AI with a 100% renewable energy infrastructure, Topnotch Crypto offers a transparent and powerful platform for users to maximize their digital asset returns through both cloud mining and staking.

    More information:

    Official website: https://topnotchcrypto.com

    Email: info@topnotchcrypto.com

    APP download: https://topnotchcrypto.com/xml/index.html#/app

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

    The MIL Network –

  • MIL-OSI Africa: CORRECTION: New Study Shows the Coca-Cola System has an Economic Impact of $10.4 Billion Across its Value Chain in Africa, Supporting More Than 1 Million Jobs

    • Across 54 African markets, The Coca-Cola Company and its authorized bottlers, collectively known as the Coca-Cola system, contributed $10.4 billion in economic activity across its value chain in 2024.
    • The Coca-Cola system and its value chain supported more than 1 million jobs in retail, agriculture, manufacturing, transport and services in Africa.
    • The Coca-Cola system purchased $4.3 billion from suppliers in Africa in 2024, representing 83% of the system’s total procurement on the continent.

    The Coca-Cola Company (www.Coca-ColaCompany.com) announced the results of a comprehensive, Africa-wide socio-economic impact study during the 2025 U.S.-Africa Business Summit in Luanda, Angola.

    The study shows that the Coca-Cola system, made up of The Coca-Cola Company and its authorized bottlers, working with a wide network of suppliers, manufacturers, service providers and customers, contributed $10.4 billion in value-added economic activity across its value chain in Africa in 2024.

    The Coca-Cola system supported more than 1 million jobs across its value chain on the continent in sectors like retail, agriculture, manufacturing, transport and services. This included 36,800 direct Coca-Cola system jobs, plus 987,000 indirect jobs that are supported across the value chain, meaning the system collectively supported 27 additional jobs for every job it directly creates.

    The study, conducted by global consultancy Steward Redqueen, shows that the system invested $4.3 billion in the African economy in 2024 through the purchase of goods and services from local suppliers, representing 83% of its total procurement.

    “Our long-standing presence in Africa, working with locally owned bottlers and suppliers, allows us to drive more sustainable growth and contribute to the continent’s development,” said Luisa Ortega, president of the Africa operating unit of The Coca-Cola Company. “Our unique operating model allows us to make a lasting impact in local communities.”

    The company’s portfolio in Africa includes a wide range of brands in several beverage categories. Ingredients and packaging used by the Coca-Cola system in Africa are mostly locally sourced, supplied, produced, manufactured and distributed.

    “The Coca-Cola Company’s commitment to Africa remains steadfast,” Ortega said. “The Coca-Cola system has announced investments of nearly $1.2 billion on the continent over the next five years, and we are hopeful that stable and predictable policy environments will enable more investments in the months and years ahead. Additionally, the Coca-Cola system will invest nearly $25 million by 2030 to help address critical water-related challenges in local communities in 20 African markets.”

    This study highlights the Coca-Cola system’s role in Africa’s long-term growth and driving more sustainable development across the continent. The approach adopted by Steward Redqueen integrates client-provided operational data with trusted third-party economic sources and industry benchmarks. More than just measuring direct contributions, the analysis uncovers economic interlinkages, showing how the Coca-Cola system drives production, generates income, and supports employment across a spectrum of industries and geographies.

    Teodora Nenova Managing Partner at Steward Redqueen added: “Our impact assessment reveals the wide-reaching economic footprint of the Coca-Cola system across Africa. The findings highlight the scale of the Coca-Cola system’s local presence and its ongoing contribution to economic opportunity and livelihoods across the continent.”

    Distributed by APO Group on behalf of Coca-Cola.

    Follow on Social Media:
    Instagram: https://apo-opa.co/3TQWol7
    Facebook: https://apo-opa.co/3TdYNGs
    LinkedIn: https://apo-opa.co/4nn0teB

    About The Coca-Cola Company
    The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.Coca-ColaCompany.com.

    MIL OSI Africa –

  • MIL-OSI USA: $200M Boost for Critical Water Infrastructure

    Source: US State of New York

    overnor Kathy Hochul today announced that the Environmental Facilities Corporation Board of Directors approved nearly $200 million in financial assistance for water infrastructure improvement projects across New York State. The Board’s approval authorizes municipal access to low-cost financing and grants to get shovels in the ground for critical water and sewer infrastructure projects, from treatment processes to remove emerging contaminants from drinking water, to replacing lead service lines and modernizing aging systems. These investments protect public health and make projects more affordable, reducing the need for higher rate increases to fund improvements, while also creating good-paying jobs.

    “Clean water is a fundamental right, and New York is leading the way in making sure communities have the resources they need to protect it,” Governor Hochul said. “This funding will help New York City and communities across the state make critical upgrades to aging infrastructure, reduce pollution, and deliver safe, reliable water, while protecting the pockets of New Yorkers.”

    The Board approved a major $50 million investment in New York City, including a $25 million grant from the federal Infrastructure Investment and Jobs Act (IIJA) funding. The grant will be used by New York City exclusively for affordability programs that provide financial assistance to low-income water and sewer customers. The $25 million in interest-free financing will support a stormwater and resiliency project that is a key component of the larger Gowanus Canal Superfund Site cleanup. Construction of underground tanks and a network of improvements will fortify the City’s sewers and reduce combined sewage and stormwater overflows that have polluted the canal for a century.

    Today’s announcement builds on a longstanding State-City partnership that has advanced transformative water and sewer improvements. EFC’s financial assistance over the past 15 years has saved City ratepayers more than $2.7 billion on water infrastructure projects, including more than $400 million in direct grants. Under Governor Hochul’s leadership, the State continues to deliver critical financial resources to complete essential projects, ease the burden on local ratepayers, and build stronger, more resilient neighborhoods for generations to come.

    EFC’s Board approved grants and financings to local governments from the Clean Water and Drinking Water State Revolving Funds – a mix of federal and state dollars dedicated to financing community water infrastructure projects. State Revolving Fund interest rates are below market rate, and with long repayment periods, communities may save significantly on debt service compared to traditional financing. IIJA funding bolstered the State Revolving Funds and accelerated progress on essential clean water and drinking water projects.

    The Board also approved executing previously awarded State grants from the Water Infrastructure Improvement and Lead Infrastructure Forgiveness and Transformation programs. EFC Board approval is a critical step in the funding process and will allow communities to access these funds for project implementation. Leveraging federal funding with state investments maximizes the impact of each dollar spent, empowering local communities to make critical system improvements they need to keep their residents safe and ensuring cost is not a barrier for project implementation.

    Environmental Facilities Corporation President & CEO Maureen A. Coleman said, “Under Governor Hochul’s leadership, we are making historic investments that help communities take on complex, long-needed infrastructure projects without overburdening local ratepayers. Today’s announcement underscores the State’s unwavering commitment to affordable drinking water and wastewater service in New York City and communities statewide. We’re not just financing construction—we’re helping to deliver a cleaner, greener, more resilient future that New Yorkers deserve.”

    New York State Department of Environmental Conservation Commissioner Amanda Lefton said, “Investing in local water infrastructure and ensuring all communities have access to clean water is a top priority for New York. Across the state, municipalities large and small are challenged by aging water mains, crumbling wastewater treatment facilities, and outdated sewer systems. Governor Hochul continues to make generational investments that will help communities address critical infrastructure needs and protect water quality, water quantity, and our environment while keeping costs down for cash-strapped municipalities and New Yorkers.”

    New York State Health Commissioner Dr. James McDonald said, “Governor Hochul has made it clear that access to safe, clean drinking water is a top priority. This latest round of funding helps ensure those critical projects—like removing emerging contaminants—are both an affordable and achievable reality for communities across New York State. The State Health Department will continue to work with local municipalities and our state partners to make sure the water coming from the tap is safe and healthy for all New Yorkers.”

    New York State Secretary of State Walter T. Mosley said, “Governor Hochul recognizes that clean water infrastructure is vital to public health, economic development and community quality of life. The Governor’s visionary commitment of $200 million in low-cost financing and grants provides local governments with the support they need to become more resilient, sustainable and prosperous well into the future.”

    Senator Charles Schumer said, “Everyone deserves access to clean drinking water. These major federal investments will ensure families from Chautauqua to Port Washington have safe drinking water and our beautiful waterways stay clean, all while creating new good-paying jobs, jobs, jobs. I am proud to deliver millions in federal funding and will fight to preserve funding to modernize drinking water and water-sewer systems in the upcoming budget. I am grateful for Governor Hochul’s partnership in the fight to turn the tide on our state’s aging water infrastructure to keep our communities safe and healthy.”

    Representative Grace Meng said, “From combating flooding to ensuring clean drinking water, upgrading our water infrastructure is a crucial investment in our state’s future, and I’m always proud to fight for funding that makes these types of projects possible. I thank Governor Hochul for her leadership and helping to make needed improvements happen across New York.”

    Representative Joe Morelle said, “Everyone deserves to have confidence that the water from their kitchen faucet is clean and safe to use. In Washington, I’m always fighting for projects that support our community’s health and wellbeing. I’m grateful to Governor Hochul for her continued leadership and partnership in building a healthier New York for all.”

    Representative Tom Suozzi said, “The Governor and the state are effectively delivering essential funds to New York’s local water providers from the Bipartisan Infrastructure Law, which I helped negotiate as a member of the Problem Solvers Caucus. The Port Washington project is a crucial investment that will enhance and protect our water infrastructure for future generations while reducing the financial burden on our local taxpayers. I will continue to work with the state to try and bring vital federal resources back to New York.”

    Representative Pat Ryan said, “The freedom to drink clean water is fundamentally American. Our community has been pushing hard to ensure that every Hudson Valley family – especially our kids – has access to clean, safe drinking water. We’ve made real progress, including in Poughkeepsie. Last year, I was proud to work with the Governor to secure critical funds for lead pipe removal in Poughkeepsie. This funding is another step towards ensuring clean water for all, and I thank the Governor and all our partners for their advocacy and commitment to Hudson Valley public health.”

    State Senator Pete Harckham said, “This major investment from the state ensures public health standards while supporting local municipalities. Maintaining safe, accessible drinking water sources and supply systems is integral to future growth and prosperity, and I thank Governor Hochul, my colleagues in the State Legislature and the New York State Environmental Facilities Corporation for making the financial commitment to see this through.”

    Assemblymember Deborah J. Glick said, “Communities across New York are facing mounting challenges when it comes to water infrastructure—whether it’s combating contaminants like PFAS, repairing aging water and sewer systems, or replacing lead service lines. This critical funding provides much-needed support to local governments working to protect public health and ensure clean, safe water. I’m especially grateful that $50 million has been directed to support infrastructure improvements in New York City, and I thank Governor Hochul for her continued leadership in prioritizing these essential investments.”

    New York City Department of Environmental Protection Commissioner Rohit T. Aggarwala said, “New York City is home to nearly half of the State’s population and will make full and beneficial use of this grant and financing, which will help the people of Gowanus as well as low-income water customers across the five boroughs. This commitment from the State represents a new and positive development in the collaboration between EFC and DEP and I’m grateful for this partnership.”

    Funding was approved for projects in the following regions:

    Finger Lakes

    • Town of Leroy – $5 million grant for the formation of Water District No. 12, including installation of approximately 173,000 linear feet of water mains and appurtenances including hydrants, valves, and service meters.
    • Town of Milo – $366,000 grant for the installation of 4,600 linear feet of water main, gate valves, hydrants, meters, and additional appurtenances along NYS Route 54 to form Water District No. 4.
    • City of Rochester – $24 million for the replacement of 3,269 lead service lines, approximately 14% of the total lead and galvanized services lines in the water system. Rochester is one of 12 municipalities to receive a State grant as well as federal IIJA grants and interest-free financing for lead service line replacement. The State grant will reimburse costs that were not fully covered by IIJA grants, so upon completion of this project, the City won’t have to pay back the financing.

    Long Island

    • Village of Farmingdale – $4.6 million grant for the installation of an advanced oxidation process treatment system for the removal of 1,4-dioxane and a granular activated carbon treatment system for removal of PFOA and PFOS at the Ridge Road Well Site Plant No. 2.
    • Port Washington Water District – $5 million in grants for the construction of a granular activated carbon treatment system for the removal of PFOA and PFOS from Hewlett Well No. 4.
    • Suffolk County Water Authority – $1.5 million grant for the installation of approximately 7,500 linear feet of water main, gate valves, hydrants, meters, and additional appurtenances to provide public water to homes with contaminated private wells along Old Country Road.

    Mid-Hudson

    • City of Poughkeepsie – $6.7 million grant and low-cost financing package for the rehabilitation of the Fallkill Trunk portion of the sanitary sewer collection system.

    North Country

    • Village of Port Leyden – $8 million grant and interest-free financing package for the replacement of approximately 18,000 linear feet of water main and associated appurtenances, replacement of water meters, and water treatment plant upgrades.

    New York City

    • New York City Municipal Water Finance Authority – $50 million grant and interest-free financing package for the planning, design, and construction of the Gowanus Canal combined sewer overflow abatement facilities.

    Western New York

    • Village of Andover – $1.4 million grant for the development of a new groundwater well to provide needed source redundancy and replace an existing noncompliant spring source. The Board previously approved an interest-free financing in addition to the grant to support this project.
    • Town of Chautauqua – $7.7 million grant and interest-free financing package for the development of two new groundwater wells and a new treatment plant to replace the existing water source and treatment plant, and installation of approximately 14,000 linear feet of transmission and distribution water mains to extend the water district and serve 345 new residences that are currently dependent on private wells.
    • Town of Clymer – $10.5 million grant and interest-free financing package for the development and installation of a new ground water well to provide additional source capacity, replacement of approximately 26,000 linear feet of watermains, valves, hydrants, and appurtenances and a new 200,000-gallon water storage tank to replace a deteriorated tank.
    • Town of Ellicott – $6.4 million in grants for the design and construction of a sewer district extension.
    • Town of Randolph – $4.5 million grant and low-cost financing package for the planning, design, and construction of wastewater treatment plant improvements.
    • Town of Westfield – $9.5 million grant and interest-free financing for the design and construction of wastewater treatment plant and collection system improvements.

    Refinancing Completed Projects Will Achieve Long-Term Debt Service Savings
    The Board also took action to help ensure continued, long-term affordability of existing projects. EFC provides short-term financing for design and construction of projects. Once project construction is completed, the short-term financing is typically refinanced to long-term financing for up to 30 years. Based on current market conditions, these long-term interest-free financings are projected to save local ratepayers an estimated $51 million in interest payments over the life of the financings.

    The Board approved long-term financing for projects undertaken by communities in the following regions:

    Mohawk Valley

    • Village of Middleburgh – $2.5 million long-term interest-free financing for the planning, design, and construction of upgrades to the wastewater treatment plant.

    New York City

    • New York City Municipal Water Finance Authority – $42 million long-term interest-free financing for the design and construction of new engine generators to utilize digester gas and natural gas to cogenerate power and heat for on-site use at the North River Water Resource Recovery Facility.

    North Country

    • Village of Lowville – $9.3 million long-term interest-free financing for the planning, design, and construction of wastewater treatment plant improvements.

    New York’s Commitment to Water Quality
    New York State continues to increase its nation-leading investments in water infrastructure, including more than $2.2 billion in financial assistance from EFC for local water infrastructure projects in State Fiscal Year 2024 alone. The next round of EFC’s Water Infrastructure Improvement and Intermunicipal Water Infrastructure Grants is now open at www.efc.ny.gov. Governor Hochul has announced $325 million for this round.

    With $500 million allocated for clean water infrastructure in the FY26 Enacted Budget announced by Governor Hochul, New York will have invested a total of $6 billion in water infrastructure between 2017 and this year. Any community needing assistance with water infrastructure projects is encouraged to contact EFC. New Yorkers can track projects benefiting from EFC’s investments using the interactive project impact dashboard.

    MIL OSI USA News –

  • MIL-OSI Europe: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

    Source: European Central Bank

    June 2025

    27 June 2025

    External communication

    ECB Convergence Report 2025

    On 4 June 2025 the ECB published its Convergence Report, prepared following a request by Bulgaria on 25 February 2025. The report examines Bulgaria’s state of economic convergence and the compatibility of its national legislation with the Treaties. It was approved by the General Council and published simultaneously with the report prepared by the European Commission as foreseen by the provisions of the Treaty on the Functioning of the European Union. The report is available on the ECB’s website, together with a related press release.

    Monetary policy

    Climate-related disclosures of the Eurosystem’s corporate bond holdings

    On 30 May 2025 the Governing Council authorised the publication of the third ECB report on the climate-related financial disclosures of Eurosystem assets held for monetary policy purposes and the ECB’s foreign reserves. The report provides information on the Eurosystem portfolios’ carbon footprint and exposure to climate risks, as well as on climate-related governance, strategy and risk management. A second report also provides information on the ECB’s euro-denominated non-monetary policy portfolios, including its own funds portfolio and its staff pension fund. Both reports, together with a related press release, were published on the ECB’s website on 12 June 2025.

    Market operations

    Postponement of reporting requirements of monetary policy counterparties for the first quarter of 2025

    On 6 June 2025 the Governing Council decided to postpone, on a one-off basis, the reporting requirements of counterparties for the first quarter of 2025 as spelled out in Article 158(3) of Guideline (EU) 2015/510 of the European Central Bank (General Documentation Guideline) with the transitional periods of the new supervisory reporting regime introduced by Commission Implementing Regulation (EU) 2024/3117. More specifically, the Governing Council decided to set the date for an automatic suspension on the grounds of prudence mentioned in Article 158(3) to 7 October 2025. The reporting requirements concerned relate to the transmission of own funds and leverage ratio data by eligible counterparties. A related announcement is available on the ECB’s website.

    Amendments to the third covered bond purchase programme (CBPP3) and pandemic emergency purchase programme (PEPP) Decisions

    On 11 June 2025 the Governing Council adopted Decision ECB/2025/20 amending Decision ECB/2020/8 on the implementation of the CBPP3, and adopted Decision ECB/2025/21 amending Decision ECB/2020/17 on a temporary PEPP. The amendments reflect the decisions taken by the Governing Council in April 2025 to amend, first, the provisions on counterparties eligible for the CBPP3 to allow Eurosystem central banks to participate in standard market transactions such as repurchase transactions by issuers of covered bonds (“buybacks”), and, second, the rules applicable to securities lending transactions of covered bonds held by the Eurosystem under the CBPP3 and the temporary PEPP to reflect risk management considerations.

    Market infrastructure and payments

    Decision confirming the go-live of the Eurosystem Collateral Management System (ECMS)

    On 16 May 2025 the Governing Council confirmed, following a positive assessment conducted by the Market Infrastructure Board, that the ECMS would go live on 16 June 2025. A related announcement was published on the same day on the ECB’s website. The ECB also issued a press release on 17 June 2025 confirming the successful launch over the weekend of 13-15 June 2025.

    Launch of a public consultation on a possible extension of T2 operating hours

    On 30 May 2025 the Governing Council decided to launch a public consultation on a possible extension of T2 operating hours and approved the related consultation paper and its publication on the ECB’s website. The primary objective of this consultation, which runs until 30 September 2025, is for the Eurosystem to understand current and upcoming market needs and identify any constraints that may arise if T2 operating hours were extended. Based on this feedback and a thorough analysis of the responses received, in the course of 2026 the Governing Council will discuss possible follow-up actions.

    Decision amending Decision (EU) 2025/222 on access by non-bank payment service providers to Eurosystem central bank operated payment systems and central bank accounts (ECB/2025/2)

    On 2 June 2025 the Governing Council adopted Decision (EU) 2025/1148 amending Decision (EU) 2025/222 on access by non-bank payment service providers to Eurosystem central bank operated payment systems and central bank accounts (ECB/2025/2) (ECB/2025/18). The amendment follows from the decision taken by the Governing Council to postpone amendments to the TARGET Guideline in order to avoid the legal uncertainty that would have ensued in relation to access by non-bank payment service providers to Eurosystem central bank operated payment systems, including TARGET components, as a result of delays in some euro-area Member States in transposing relevant amendments to Directive 98/26/EC on settlement finality in payment and securities settlement systems and Directive (EU) 2015/2366 on payment services in the internal market into national legislation.

    Progress report on the digital euro project

    On 3 June 2025 the Governing Council discussed the progress made on key digital euro design aspects (e.g. the sourcing of potential providers, preparation of the rulebook, experimentation and further analysis) and took note of the envisaged next steps, concluding that the project remained on track in terms of both budget and timing. More detailed information on the digital euro project is available on the ECB’s website.

    Eurosystem roadmap regarding distributed ledger technology (DLT) for wholesale central bank money settlement

    On 23 June 2025 the Governing Council approved a high-level roadmap for its two-track approach on DLT for wholesale central bank money settlement which the Eurosystem embarked on with its exploratory work in 2024. Under the first track, referred to as Pontes, the Market Infrastructure Board is mandated to deliver an operational short-term offering to settle DLT-based transactions in central bank money, for which a pilot is expected to be launched by the end of the third quarter of 2026. The second track, referred to as Appia, will focus on identifying a potential long-term approach for an innovative and integrated ecosystem in Europe that also includes international operations. A related press release with more detailed information will be published in due course on the ECB’s website.

    Report on Eurosystem’s exploratory work on new technologies for wholesale central bank money settlement

    On 25 June 2025 the Governing Council took note of a report, prepared by the Market Infrastructure and Payments Committee, on the Eurosystem’s exploratory work on new technologies for wholesale central bank money settlement. The report consolidates the key findings of this initiative, which attracted high interest with a total of 64 eligible participants, across nine jurisdictions, and almost €1.6 billion settled in 27 trials, and it showcases the various use cases identified. The report will be published in due course on the ECB’s website.

    Advice on legislation

    ECB Opinion on the composition of the decision-making bodies of the Magyar Nemzeti Bank, the treasury accounts managed by the Magyar Nemzeti Bank and the permitted activities of foundations established by the Magyar Nemzeti Bank

    On 27 May 2025 the Governing Council adopted Opinion CON/2025/12 prepared on the ECB’s own initiative.

    ECB Opinion on the pensions of the Nationale Bank van België/Banque Nationale de Belgique

    On 10 June 2025 the Governing Council adopted Opinion CON/2025/13 at the request of the Belgian Deputy Prime Minister and Minister of Finances and Pensions.

    ECB Opinion on access to cash and a constitutional right to payment in cash

    On 25 June 2025 the Governing Council adopted Opinion CON/2025/14 at the request of Magyar Nemzeti Bank. The Opinion will be available in due course on EUR-Lex.

    Corporate governance

    ECB Recommendation on the external auditors of the Deutsche Bundesbank

    On 2 June 2025 the Governing Council adopted Recommendation ECB/2025/19 to the Council of the European Union on the external auditors of the Deutsche Bundesbank.

    Membership of the ECB Audit Committee and the ECB Ethics Committee

    On 4 June 2025 the Governing Council appointed Gaston Reinesch as Governing Council member to the ECB Audit Committee to succeed Klaas Knot, whose mandate comes to an end on 1 July 2025. The Governing Council also appointed Federica Mogherini, the current Rector of the College of Europe, Director of the European Union Diplomatic Academy and former High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission, as a new member of the ECB Ethics Committee, to succeed Virginia R. Canter, whose mandate comes to an end at the beginning of August 2025. These appointments, which start on 1 July and 1 August 2025, respectively, are for an initial term of three years, renewable once.

    Statistics

    Recommendation for amending Council Regulation (EC) No 2533/98 concerning the collection of statistical information by the ECB

    On 22 May 2025 the Governing Council adopted Recommendation ECB/2025/17 for a Council Regulation amending Regulation (EC) No 2533/98 concerning the collection of statistical information by the European Central Bank. The main objective of amending Regulation (EC) No 2533/98 is to address the significant changes in the collection, compilation, dissemination and use of statistical information by the European System of Central Banks (ESCB) owing to the digital transformation. These changes have led to demands for timelier, more frequent and more detailed statistical information but have also offered new possibilities for a more efficient collection of statistical information, therefore improving its cost-effectiveness and minimising the reporting burden.

    International and European cooperation

    Report on the international role of the euro

    On 15 May 2025 the Governing Council approved the June 2025 edition of the report on the international role of the euro and authorised its publication on the ECB’s website. The report, which presents an overview of developments in the use of the euro by non-euro area residents in 2024, is available, together with a related press release, on the ECB’s website.

    ESCB response to the European Commission targeted consultation on the integration of EU capital markets

    On 4 June 2025 the Governing Council, with the benefit of the observations received from members of the General Council, approved an ESCB response to the European Commission’s targeted consultation on the integration of EU capital markets. The ESCB response, which provides detailed views of the ESCB on specific aspects regarding simplification and burden reduction, trading, post-trading, horizontal barriers to trade and post-trade infrastructures, asset management and funds, topics for consultation on supervision, as well as horizontal questions on the supervisory framework, is available on the ECB’s website.

    ECB Banking Supervision

    Compliance with the European Supervisory Authorities’ (ESA) Joint Guidelines for the exchange of information relevant for fit and proper assessments

    On 16 May 2025 the Governing Council did not object to a proposal by the Supervisory Board to notify the European Banking Authority (EBA) that, for the significant institutions under its direct supervision, the ECB already complies with the Joint Guidelines on the system established by the ESAs for the exchange of information relevant to the assessment of the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions and financial market participants by competent authorities (JC/GL/2024/88). The Joint Guidelines aim at establishing consistent, efficient and effective supervisory practices within the European System of Financial Supervision, and at ensuring the common, uniform and consistent application of Union law with regard to the use of the system established by the ESAs for the aforementioned exchange of information.

    Compliance with the ESA Joint Guidelines on the estimation of aggregated annual costs and losses caused by major ICT-related incidents under Regulation (EU) 2022/2554

    On 19 May 2025 the Governing Council did not object to a proposal by the Supervisory Board to notify the EBA that, for the significant institutions under its direct supervision, the ECB intends to comply by 30 November 2025 with the Joint Guidelines on the estimation of aggregated annual costs and losses caused by major ICT-related incidents under Regulation (EU) 2022/2554 (JC/GL/2024/34).

    Compliance with the EBA Guidelines on environmental, social and governance (ESG) risks

    On 28 May 2025 the Governing Council did not object to a proposal by the Supervisory Board to notify the EBA that, for the significant institutions under its direct supervision, the ECB intends to comply by 11 January 2026 with the Guidelines on the management of ESG risks (EBA/GL/2025/01). These guidelines aim at enhancing the identification, measurement, management and monitoring of ESG risks by institutions, and at supporting their safety and soundness as they are confronted with the short, medium and long-term impact of ESG factors. They contain requirements as to the internal processes and ESG risk management arrangements that institutions should have in place, including specific plans to address the risks arising from the transition and process of adjustment to relevant sustainability legal and regulatory objectives.

    MIL OSI Europe News –

  • MIL-OSI: Turbo Energy Announces Results of 2025 Annual General Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    VALENCIA, Spain, June 27, 2025 (GLOBE NEWSWIRE) — Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a leader in the field of photovoltaic energy storage, today announced that the following resolutions were approved at its 2025 Annual General Meeting of Shareholders held on June 24, 2024 in Valencia, Spain:

    1. To elect eight persons to the Board of Directors of the Company, each to serve until the next annual general meeting of shareholders, or until such person’s successor is duly elected and qualified or until his or her earlier death, resignation, retirement, disqualification or removal;
      1. To ratify the appointment of TAAD, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025;
        1. To ratify the appointment of Grant Thornton, SLP Sociedad Unipersonal as the Company’s Spanish public accounting firm for the fiscal year ending December 31, 2025;
          1. To assess and, where appropriate, approve of the individual annual accounts (balance sheet, profit and loss account, statement of changes in equity for the year, cash flow statement and notes to the annual accounts), as well as the management report, as required under the Spanish law;
            1. To examine and, where appropriate, approve the individual annual accounts’ proposed results allocation, as required under the Spanish law;
              1. To examine and, where appropriate, approve the management of the Company by the Board of Directors (the Board”) for the fiscal year ended December 31, 2024, as required under the Spanish law;
                1. To examine and, where appropriate, approve the delegation to the Board of the power to carry out capital increases, within the limit provided for in Article 297.1.B of the Spanish Companies Act, up to half of the share capital at the date of the authorization, within the legal period of one year from the date of this Annual Meeting, with the possibility of carrying out the increase on one or more occasions and with the power to exclude the right of subscription in whole or in part, in accordance with the provisions of Article 506 of the Spanish Companies Act. This delegation to increase the share capital excluding subscription rights may not exceed twenty percent of the Company’s share capital;
                  1. To examine and, where appropriate, approve to authorize, as the case may be, the Board for a non-extendable period of one year, pursuant to the provisions of Article 319 of the Commercial Registry Regulations and 511 of the Spanish Companies Act, and on one or more occasions, to issue bonds or bonds convertible and/or exchangeable for shares of the Company, including instruments of a similar nature, convertible or exchangeable for shares of the Company, or which may directly or indirectly entitle the Board to subscribe shares of the Company, including warrants, with express powers to exclude pre-emptive subscription rights in issues, with the Board being empowered to set the conditions thereof, in accordance with the conversion bases agreed by the shareholders’ meeting, and to proceed with the capital increases required for their conversion, excluding the shareholders’ pre-emptive rights, provided that when exercising the delegation, the mandatory reports required by current legislation are submitted, both by the Board itself and by the Independent Auditor appointed if necessary. The maximum amount of the issues authorized under said delegation may not exceed the global amount of 60,000,000 Euros, nor may the individual issue in each case require the simultaneous approval of a capital increase of more than twenty percent of the total capital resulting therefrom. Furthermore, in the event that the pre-emptive subscription right is excluded from the issues, the maximum number of shares into which the bonds issued or instruments of a similar nature may be converted may not exceed twenty percent of the number of shares comprising the share capital at the time of the authorization;
                    1. To grant powers for the execution and notarization of resolutions. To execute such public documents as may be necessary for the due formalization and registration in the Mercantile Registry of the resolutions adopted at this Annual Meeting, including the correction or rectification, if necessary; and
                      1. To read and approve, where appropriate, the general shareholders meeting minutes.

                        2. The complete text of the resolutions and related background are set forth in the proxy statement filed by the Company with the U.S. Securities and Exchange Commission on June 9, 2025.

                        About Turbo Energy, S.A.

                        Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence. Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and South America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the Company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management. Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies.  For more information, please visit www.turbo-e.com.

                        Forward-Looking Statements

                        Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual report under the heading “Risk Factors” as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Turbo Energy, S.A. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

                        For more information, please contact:
                        At Turbo Energy, S.A.                                                 
                        Dodi Handy, Director of Communications                       
                        Phone: 407-960-4636                                                   
                        Email: dodihandy@turbo-e.com 

    The MIL Network –

  • MIL-OSI: WISeSat.Space on Track to Deploy 100-Satellite Constellation by 2027 in Cooperation with WISekey and SEALSQ

    Source: GlobeNewswire (MIL-OSI)

    WISeSat.Space on Track to Deploy 100-Satellite Constellation by 2027 in Cooperation with WISekey and SEALSQ

    Pioneering One of the World’s Largest Low Earth Orbit Secure Satellite Infrastructures

    Geneva, Switzerland – June 27, 2025- WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces that its subsidiary WISeSat.Space, is on target to deploy a 100-satellite constellation by 2027, establishing one of the largest secure low Earth orbit (LEO) infrastructures designed to deliver resilient, sovereign, and encrypted satellite connectivity globally.

    Currently, over 25 WISeSat.Space constellation satellites can be tracked in real time at: https://wisesat.wisekey.com/?tags=WISeSat.

    This expanding constellation provides secure, cost-effective, and real-time IoT connectivity for critical applications across industries, including smart agriculture, energy, logistics, defense, and national security. The architecture is designed with post-quantum encryption and digital identity technologies, ensuring robust cybersecurity in orbit.

    “The future of strategic autonomy starts in space,” said Carlos Moreira, Founder and CEO of WISeKey. “In today’s volatile geopolitical and technological climate, having a sovereign satellite infrastructure is no longer a luxury, it is a necessity. Our 100-satellite goal will make WISeSat.Space a global leader in space-based secure communications.”

    A Strategic Asset for Digital Sovereignty

    The WISeSat.Space initiative aligns with the growing global demand for sovereign space infrastructure as nations and corporations seek to reduce dependency on foreign technologies and protect sensitive data. The constellation provides an independent layer of digital trust to support secure communications, navigation, broadcasting, and data sovereignty.

    A Modular and Scalable Model

    WISeSat.Space satellites are deployed in collaboration with trusted launch partners and manufactured with a “Space-for-Good” philosophy, combining environmental awareness with advanced security protocols. The modular architecture enables rapid scalability to meet evolving global needs.

    About WISeSat.Space

    WISeSat.Space is a joint venture powered by WISeKey and SEALSQ, focused on deploying the world’s first truly secure IoT satellite constellation. Leveraging WISeKey’s trusted root of digital identity and SEALSQ’s post-quantum secure semiconductors, WISeSat.Space is paving the way for a trusted space-based ecosystem for governments, enterprises, and critical infrastructure providers.

    About WISeKey

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com 

    Media Contact:
    press@wisekey.com
    +41 22 594 30 00
    www.wisesat.space

    		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@theequitygroup.com

    The MIL Network –

  • MIL-OSI Analysis: Why energy markets fluctuate during an international crisis

    Source: The Conversation – USA – By Skip York, Nonresident Fellow in Energy and Global Oil, Baker Institute for Public Policy, Rice University

    Stock and commodities traders found themselves dealing with various price swings as energy markets responded to Israeli and U.S. attacks on Iran. Timothy A. Clary/AFP via Getty Imagesf

    Global energy markets, such as those for oil, gas and coal, tend to be sensitive to a wide range of world events – especially when there is some sort of crisis. Having worked in the energy industry for over 30 years, I’ve seen how war, political instability, pandemics and economic sanctions can significantly disrupt energy markets and impede them from functioning efficiently.

    A look at the basics

    First, consider the economic fundamentals of supply and demand. The risk most people imagine in the current crisis between Israel, the U.S. and Iran is that Iran, which is itself a major oil-producing country, might suddenly expand the conflict by threatening the ability of neighboring countries to supply oil to the world.

    Oil wells, refineries, pipelines and shipping lanes are the backbone of energy markets. They can be vulnerable during a crisis: Whether there is deliberate sabotage or collateral damage from military action, energy infrastructure often takes a hit.

    For instance, after Saddam Hussein invaded Kuwait in August 1990, Iraqi forces placed explosive charges on Kuwaiti oil wells and began detonating them in January 1991. It took months for all the resulting fires to be put out, and millions of barrels of oil and hundreds of millions of cubic meters of natural gas were released into the environment – rather than being sold and used productively somewhere around the world.

    Scenes of Kuwaiti life during and after the Gulf War of 1990 and 1991 include images of oil wells burning as a result of Iraqi sabotage.

    Logistics can mess markets up too. For instance, closing critical maritime routes like the Strait of Hormuz or the Suez Canal can cause transportation delays.

    Whether supply is lost from decreased production or blocked transportation routes, the effect is less oil available to the market, which not only causes prices to rise in general, but it also makes them more volatile – tending to change more frequently and by larger amounts.

    On the flip side, demand can also shift radically. During the 1990-1991 Gulf War, demand rose: U.S. forces alone used more than 2 billion gallons of fuel, according to an Army analysis. By contrast, during the COVID-19 pandemic, industries shut down, travel came to a halt and energy demand plummeted.

    When crisis looms, countries and companies often start stockpiling oil and other raw materials rather than buying only what they need right now. That creates even more imbalance, resulting in price volatility that leaves everyone, both consumers and producers, with a headache.

    Regional considerations

    In addition to uncertainties around market fundamentals, it’s important to note that many of the world’s energy reserves are located in regions that have not been models of stability. In the Middle East, wars, revolutions and diplomatic disputes there can raise concerns about supply, demand or both.

    Those worries send shock waves through the world’s energy markets. It’s like walking on a tightrope: One wrong move – or even the perception of a misstep – can make the market wobble.

    Governments’ economic sanctions, such as those restricting trade with Iran, Russia or Venezuela, can distort production and investment decisions and disrupt trade flows. Sometimes markets react even before sanctions are officially in place: Just the rumor of a possible embargo can cause prices to spike as buyers scramble to secure resources.

    In 2008, for example, India and Vietnam imposed rice export bans, and rumors of additional restrictions fueled panic buying and nearly doubled prices in months.

    In those scrambles, the role of investor speculation enters the picture. Energy commodities, such as oil and gas, aren’t just physical resources; they’re also traded as financial assets like stocks and bonds. During uncertain times, traders don’t wait around for actual changes in supply and demand. They react to news and forecasts, sometimes in large groups, which can shift the market just with the actions that result from their fears or hopes.

    The events on June 22, 2025, are a good example of how this dynamic works. The Iranian parliament passed a resolution authorizing the country’s Supreme Council to close the Strait of Hormuz. Immediately, oil prices started rising, even though the strait was still open, with oil tankers steaming through unimpeded.

    The next day, Iran launched a missile strike on Qatar, but coordinated in advance with Qatari officials to minimize damage and casualties. Traders and analysts perceived the action as a de-escalatory signal and anticipated that the Supreme Council was not going to close the strait. So prices started to fall.

    It was a price roller coaster, fueled by speculation rather than reality. And computer algorithms and artificial intelligence, which assist in making automated trades, only add to the chaos of price changes.

    Shipping activity in the Persian Gulf and the Strait of Hormuz decreased after Israel’s attacks on Iranian nuclear facilities.

    A broader look

    International crises can also cause wider changes in countries’ economies – or the global economy as a whole – which in turn affect the energy market.

    If a crisis sparks a recession, rising inflation or high unemployment, those tend to cause people and businesses to use less energy. When the underlying situation stabilizes, recovery efforts can mean energy consumption resumes. But it’s like a pendulum swinging back and forth, with energy markets caught in the middle.

    Renewable energy is not immune to international crisis and chaos. The supply is less affected by market forces: The amount of available sunlight and wind isn’t tied to geopolitical relations. But overall economic conditions still affect demand, and a crisis can disrupt the supply chains for the equipment needed to harness renewable energy, like solar panels and wind turbines.

    It’s no wonder energy markets are so jittery during international crises. A mix of imbalances between supply and demand, vulnerable infrastructure, political tensions, corporate worries and speculative trading all weave together into a complex web of volatility.

    For policymakers, investors and consumers, understanding these dynamics is key to navigating the ups and downs of energy markets in a crisis-prone world. The solutions aren’t simple, but being informed is the first step toward stability.

    Skip York is a nonresident fellow for Global Oil and Energy with the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. He also is the Chief Energy Strategist at Turner Mason & Company, an energy consulting firm.

    – ref. Why energy markets fluctuate during an international crisis – https://theconversation.com/why-energy-markets-fluctuate-during-an-international-crisis-259839

    MIL OSI Analysis –

  • MIL-OSI: Aemetis Biogas Receives CARB Approval for Seven RNG Pathways

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., June 27, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas (RNG) and renewable fuels company, announced today that the California Air Resources Board (CARB) has approved provisional pathways under the Low Carbon Fuel Standard (LCFS) for seven dairy digesters built and operated by Aemetis Biogas, a subsidiary of the Company. The pathway approvals are effective as of January 1, 2025. The average carbon intensity for the seven approved pathways is -384, with carbon intensities ranging from -327 to -419.

    “The approval of seven LCFS pathways increases the number of LCFS credits generated by these digesters by approximately 100%,” stated Eric McAfee, Chairman and CEO of Aemetis. “With eleven operating digesters and a four-dairy cluster digester currently being completed, we have additional pathway filings in process that we expect will be approved more quickly than these initial pathways once the LCFS regulatory amendments are adopted this year.”

    With the LCFS first quarter reporting deadline of June 30, 2025, the January 1, 2025, effective date of the new pathways enables Aemetis to immediately obtain the increased LCFS credit quantity for its RNG produced in the first quarter of 2025.

    Aemetis renewable energy and energy efficiency projects include the construction of new dairy digesters expected to generate more than 1 million MMBtu per year of renewable natural gas; the Keyes ethanol plant mechanical vapor recompression system that is expected to generate $32 million of increased annual cash flow starting in 2026; the Riverbank carbon sequestration project to inject 1.4 million tons per year of CO2 per year underground; and the 78 million gallon per year sustainable aviation fuel and renewable diesel plant that has already received Authority To Construct air permits and other key approvals.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development, and commercialization of innovative technologies that replace petroleum products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California that will use renewable hydrogen and hydroelectric power to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network –

  • MIL-OSI: Richtech Robotics and Beijing City of Design Development Sign Agreement to Accelerate Design of Next-Gen AI-Powered Service Robotics

    Source: GlobeNewswire (MIL-OSI)

    Collaboration through Joint Venture Boyu AI Technology will advance core software-hardware R&D, vertical market deployment, and industry incubation

    LAS VEGAS, June 27, 2025 (GLOBE NEWSWIRE) — Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a Nevada-based provider of AI-driven service robots, today announced the signing of a Strategic Cooperation Agreement with Beijing City of Design Development Co., Ltd. via their Chinese joint venture, Boyu Artificial Intelligence (Beijing) Technology Co., Ltd. The partnership will concentrate on joint research and development, commercialization across high-growth verticals, and incubation of next-generation service-robotics solutions.

    “This partnership significantly enhances our ability to integrate cutting-edge AI with practical robotic solutions,” said Matt Casella, President of Richtech Robotics. “By joining forces, we aim to accelerate the development and deployment of technologies that improve service experiences and streamline operations across key industries such as hospitality, healthcare, and retail.”

    Under the agreement, the parties will co-apply to establish a “Beijing Foreign-Invested R&D Center,” which will focus on pursuing breakthroughs in:

    • Domain-specific large AI models
    • Autonomous robotic decision-making systems
    • Integrated software and hardware platforms tailored to service-industry needs

    Beijing City of Design Development Co., Ltd. is a wholly state-owned enterprise jointly held by Beijing Financial Street Capital Operation Group Co., Ltd. and Beijing Shouke Group Co., Ltd., and it serves as the operating platform for Beijing’s designation as a UNESCO Creative City of Design.

    Richtech Robotics has deployed over 400 robot solutions across the U.S. including in restaurants, retail stores, hotels, healthcare facilities, casinos, senior living homes, and factories. Current clients include, Texas Rangers’ Globe Life Field, Golden Corral, Hilton, Sodexo, Boyd Gaming, and more.

    About Richtech Robotics

    Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at www.RichtechRobotics.com and connect with us on X (Twitter), LinkedIn, and YouTube.

    Forward Looking Statements

    Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the successful implementation of the joint venture and the Beijing Foreign-Invested R&D Center and expected results from the partnership with Beijing City of Design Development Co., Ltd.

    These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to the ability of each party to carry out its respective obligations under the Strategic Cooperation Agreement, the performance of Richtech Robotics’ products, industry and general economic and market conditions. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K, filed with the SEC on January 14, 2025, as amended on February 7, 2025 and March 4, 2025 and other public filings with the SEC. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

    Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Investors:
    CORE IR
    Matt Blazei
    ir@richtechrobotics.com

    Media:
    Timothy Tanksley
    Director of Marketing
    Richtech Robotics, Inc
    press@richtechrobotics.com
    702-534-0050

    The MIL Network –

  • MIL-OSI: Captivision and digiLED Complete Phase One of Landmark LED Installations at Canary Wharf

    Source: GlobeNewswire (MIL-OSI)

    MIAMI and LONDON, June 27, 2025 (GLOBE NEWSWIRE) — Captivision Inc. (“Captivision” or the “Company”) (NASDAQ: CAPT), a pioneering manufacturer and global LED solution provider, a leading innovator in digital display technology and immersive media, today announced the successful completion of the first project phase of a multi-phase LED signage installation project in partnership with digiLED and Canary Wharf Group.

    This first phase marks a major milestone in the transformation of Canary Wharf into one of the most digitally advanced commercial districts in the world. Completed installations include a suite of high-impact LED solutions across iconic locations such as Adams Plaza and Reuters Plaza, featuring:

    • Large-format outdoor digital billboards
    • Interactive kiosks and digital totems
    • Architectural LED signage integrated into the public realm

    “This is a pivotal step for Captivision as we continue to scale our presence in global markets with world-class partners,” said Gary Garrabrant, CEO of Captivision. “The completion of Phase One lays the foundation for a new era of communication, creativity, and commerce in one of Europe’s premier urban destinations.”

    About Captivision

    Captivision is a pioneering manufacturer and global LED solution provider, a leading innovator in digital display technology and immersive media. At the forefront of media architecture, Captivision has developed breakthrough media glass technology, fusing IT building materials with architectural glass to create transparent, high-performance digital canvases. This cutting-edge product enables real-time streaming and content delivery on any glass façade, transforming ordinary surfaces into dynamic storytelling platforms. Captivision is fast becoming a solution provider across the LED product spectrum.

    Captivision’s media glass and solutions have been implemented in hundreds of locations globally across sports stadiums, entertainment venues, casinos and hotels, convention centers, office and retail properties and airports. Learn more at http://www.captivision.com/.

    Cautionary Note Regarding Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include, without limitation, statements relating to expectations for future financial performance, business strategies, or expectations for the Company’s respective businesses. These statements are based on the beliefs and assumptions of the management of the Company. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, it cannot assure you that it will achieve or realize these plans, intentions or expectations. These statements constitute projections, forecasts, and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “believe”, “can”, “continue”, “expect”, “forecast”, “may”, “plan”, “project”, “should”, “will” or the negative of such terms, and similar expressions, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

    The risks and uncertainties include, but are not limited to: (1) the ability to raise financing in the future and to comply with restrictive covenants related to indebtedness; (2) the ability to realize the benefits expected from the business combination and the Company’s strategic direction; (3) the significant market adoption, demand and opportunities in the construction and digital out of home media industries for the Company’s products; (4) the ability to maintain the listing of the Company’s ordinary shares and warrants on Nasdaq; (5) the ability of the Company to remain competitive in the fourth generation architectural media glass industry in the face of future technological innovations; (6) the ability of the Company to execute its international expansion strategy; (7) the ability of the Company to protect its intellectual property rights; (8) the profitability of the Company’s larger projects, which are subject to protracted sales cycles; (9) whether the raw materials, components, finished goods, and services used by the Company to manufacture its products will continue to be available and will not be subject to significant price increases; (10) the IT, vertical real estate, and large format wallscape modified regulatory restrictions or building codes; (11) the ability of the Company’s manufacturing facilities to meet their projected manufacturing costs and production capacity; (12) the future financial performance of the Company; (13) the emergence of new technologies and the response of the Company’s customer base to those technologies; (14) the ability of the Company to retain or recruit, or to effect changes required in, its officers, key employees, or directors; (15) the ability of the Company to comply with laws and regulations applicable to its business; and (16) other risks and uncertainties set forth under the section of the Company’s Annual Report on Form 20-F entitled “Risk Factors.”

    These forward-looking statements are based on information available as of the date of this press release and the Company’s management team’s current expectations, forecasts, and assumptions, and involve a number of judgments, known and unknown risks and uncertainties and other factors, many of which are outside the control of the Company and its directors, officers, and affiliates. Accordingly, forward-looking statements should not be relied upon as representing the Company management team’s views as of any subsequent date. The Company does not undertake any obligation to update, add or to otherwise correct any forward-looking statements contained herein to reflect events or circumstances after the date they were made, whether as a result of new information, future events, inaccuracies that become apparent after the date hereof or otherwise, except as may be required under applicable securities laws.

    Investor Contact:
    Gateway Group
    Ralf Esper
    +1 949-574-3860
    CAPT@gateway-grp.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2a129153-e380-438d-834f-942a74bf59ad

    The MIL Network –

  • MIL-OSI: Apollo to Announce Second Quarter 2025 Financial Results on August 5, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 27, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) plans to release financial results for the second quarter 2025 on Tuesday, August 5, 2025, before the opening of trading on the New York Stock Exchange. Management will review Apollo’s financial results at 8:30 am EDT via public webcast available on Apollo’s Investor Relations website at ir.apollo.com. A replay will be available one hour after the event.

    Apollo distributes its earnings releases via its website and email lists. Those interested in receiving firm updates by email can sign up for them here.

    About Apollo

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

    Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com

    The MIL Network –

  • MIL-OSI: 180 Degree Capital Corp. Amends Election of Director Special Meeting Date Pursuant to Shareholder Demand Under New York Business Law

    Source: GlobeNewswire (MIL-OSI)

    MONTCLAIR, N.J., June 27, 2025 (GLOBE NEWSWIRE) — 180 Degree Capital Corp. (NASDAQ:TURN) (“180 Degree Capital”) today provides notice to its shareholders that the date of the previously announced special meeting of shareholders for the sole purpose of electing directors (“Director Election Special Meeting”) has been moved to September 15, 2025.

    This change of date resulted from constructive conversations with the shareholders who submitted a demand request on June 17, 2025 (the “Demand Letter”), who acknowledged and understood the concerns of 180 Degree Capital with regard to its goal of minimizing expenses and maximizing net asset value heading into our proposed merger with Mount Logan Capital Inc. (“Mount Logan”) in an all-stock transaction (the “Business Combination”). 180 Degree Capital currently believes that it will secure the required regulatory approvals to be able to hold a special meeting for shareholders to seek approval for the Business Combination, and should such approval be secured, to close the Business Combination prior to the new date of the Director Election Special Meeting.

    In conjunction with the change of the date of the Director Election Special Meeting, 180 Degree Capital has agreed to seek consent from the shareholders who issued the Demand Letter prior to any further changing in the date of the Director Election Special Meeting and to provide at least five (5) days’ notice prior to filing preliminary proxy materials with the SEC on Schedule 14A with respect to the Director Election Special Meeting to Marlton Partners, LP (“Marlton”). Marlton has agreed not to file preliminary proxy materials with respect to the Director Election Special Meeting prior to the filing of 180 Degree Capital’s preliminary proxy materials pertaining to the Director Election Special Meeting.

    About 180 Degree Capital Corp.

    180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 Degree Capital and its holdings can be found on its website at www.180degreecapital.com.

    Press Contact:
    Daniel B. Wolfe
    Robert E. Bigelow
    180 Degree Capital Corp.
    973-746-4500
    ir@180degreecapital.com

    Additional Information and Where to Find It

    In connection with the Director Election Special Meeting, 180 Degree Capital intends to file with the SEC a proxy statement on Schedule 14A (the “Director Election Proxy Statement”), containing a form of WHITE proxy card, with respect to its solicitation of proxies for the Director Election Special Meeting. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DIRECTOR ELECTION PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY THE COMPANY AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Investors and security holders may obtain copies of these documents and other documents filed with the SEC by the Company free of charge through the website maintained by the SEC at https://www.sec.gov. Copies of the documents filed by the Company are also available free of charge by accessing the Company’s investor relations website at https://ir.180degreecapital.com.

    In connection with the agreement and plan of merger among 180 Degree Capital, Mount Logan Capital Inc. (“Mount Logan”), Yukon New Parent, Inc. (“New Mount Logan”), Polar Merger Sub, Inc., and Moose Merger Sub, LLC, dated January 16, 2025, as it may from time to time be amended, modified or supplemented (the “Merger Agreement”) that details the proposed combination of the businesses of 180 Degree Capital and Mount Logan and any other transactions contemplated by and pursuant to the terms of the Merger Agreement (the “Business Combination”), 180 Degree Capital intends to file with the SEC and mail to its shareholders a proxy statement on Schedule 14A (the “Business Combination Proxy Statement”), containing a form of WHITE proxy card. In addition, the surviving Delaware corporation, New Mount Logan plans to file with the SEC a registration statement on Form S-4 (the “Registration Statement”) that will register the exchange of New Mount Logan shares in the Business Combination and include the Proxy Statement and a prospectus of New Mount Logan (the “Prospectus”). The Business Combination Proxy Statement and the Registration Statement (including the Prospectus) will each contain important information about 180 Degree Capital, Mount Logan, New Mount Logan, the Business Combination and related matters. SHAREHOLDERS OF 180 DEGREE CAPITAL AND MOUNT LOGAN ARE URGED TO READ THE BUSINESS COMBINATION PROXY STATEMENT AND PROSPECTUS CONTAINED IN THE REGISTRATION STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE APPLICABLE SECURITIES REGULATORY AUTHORITIES AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT 180 DEGREE CAPITAL, MOUNT LOGAN, NEW MOUNT LOGAN, THE BUSINESS COMBINATION AND RELATED MATTERS. Investors and security holders may obtain copies of these documents and other documents filed with the applicable securities regulatory authorities free of charge through the website maintained by the SEC at https://www.sec.gov and the website maintained by the Canadian securities regulators at www.sedarplus.ca. Copies of the documents filed by 180 Degree Capital are also available free of charge by accessing 180 Degree Capital’s investor relations website at https://ir.180degreecapital.com.

    Certain Information Concerning the Participants

    180 Degree Capital, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the Business Combination and the Director Election Special Meeting. Information about 180 Degree Capital’s executive officers and directors is available in 180 Degree Capital’s Annual Report filed on Form N-CSR for the year ended December 31, 2024, which was filed with the SEC on February 13, 2025, and in its proxy statement for the 2024 Annual Meeting of Shareholders (“2024 Annual Meeting”), which was filed with the SEC on March 1, 2024. To the extent holdings by the directors and executive officers of 180 Degree Capital securities reported in the proxy statement for the 2024 Annual Meeting have changed, such changes have been or will be reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at https://www.sec.gov. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the 180 Degree Capital shareholders in connection with the Business Combination and the Director Election Special Meeting will be contained in the Business Combination Proxy Statement and the Director Election Proxy Statement, respectively, when each such document becomes available.

    Mount Logan, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Mount Logan in favor of the approval of the Business Combination. Information about Mount Logan’s executive officers and directors is available in Mount Logan’s annual information form dated March 13, 2025, available on its website at https://mountlogancapital.ca/investor-relations and on SEDAR+ at https://www.sedarplus.com. To the extent holdings by the directors and executive officers of Mount Logan securities reported in Mount Logan’s annual information form have changed, such changes have been or will be reflected on insider reports filed on SEDI at https://www.sedi.com/sedi/. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Mount Logan shareholders in connection with the Business Combination will be contained in the Prospectus included in the Registration Statement when such document becomes available.

    Non-Solicitation

    This letter and the materials accompanying it are not intended to be, and shall not constitute, an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

    Forward-Looking Statements

    This press release, and oral statements made from time to time by representatives of 180 Degree Capital and Mount Logan, may contain statements of a forward-looking nature relating to future events within the meaning of federal securities laws. Forward-looking statements may be identified by words such as “anticipates,” “believes,” “could,” “continue,” “estimate,” “expects,” “intends,” “will,” “should,” “may,” “plan,” “predict,” “project,” “would,” “forecasts,” “seeks,” “future,” “proposes,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions). Forward-looking statements are not statements of historical fact and reflect Mount Logan’s and 180 Degree Capital’s current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the Business Combination involving Mount Logan and 180 Degree Capital, including future financial and operating results, Mount Logan’s and 180 Degree Capital’s plans, objectives, expectations and intentions, the expected timing and likelihood of completion of the Business Combination, and other statements that are not historical facts, including but not limited to future results of operations, projected cash flow and liquidity, business strategy, payment of dividends to shareholders of New Mount Logan, and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this press release will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the ability to obtain the requisite Mount Logan and 180 Degree Capital shareholder approvals; the risk that Mount Logan or 180 Degree Capital may be unable to obtain governmental and regulatory approvals required for the Business Combination (and the risk that such approvals may result in the imposition of conditions that could adversely affect New Mount Logan or the expected benefits of the Business Combination); the risk that an event, change or other circumstance could give rise to the termination of the Business Combination; the risk that a condition to closing of the Business Combination may not be satisfied; the risk of delays in completing the Business Combination; the risk that the businesses will not be integrated successfully; the risk that synergies from the Business Combination may not be fully realized or may take longer to realize than expected; the risk that any announcement relating to the Business Combination could have adverse effects on the market price of Mount Logan’s common shares or 180 Degree Capital’s common shares; unexpected costs resulting from the Business Combination; the possibility that competing offers or acquisition proposals will be made; the risk of litigation related to the Business Combination; the risk that the credit ratings of New Mount Logan or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the Business Combination; the risk of adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Business Combination; competition, government regulation or other actions; the ability of management to execute its plans to meet its goals; risks associated with the evolving legal, regulatory and tax regimes; changes in economic, financial, political and regulatory conditions; natural and man-made disasters; civil unrest, pandemics, and conditions that may result from legislative, regulatory, trade and policy changes; and other risks inherent in Mount Logan’s and 180 Degree Capital’s businesses. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Readers should carefully review the statements set forth in the reports, which 180 Degree Capital has filed or will file from time to time with the SEC and Mount Logan has filed or will file from time to time on SEDAR+.

    Neither Mount Logan nor 180 Degree Capital undertakes any obligation, and expressly disclaims any obligation, to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Any discussion of past performance is not an indication of future results. Investing in financial markets involves a substantial degree of risk. Investors must be able to withstand a total loss of their investment. The information herein is believed to be reliable and has been obtained from sources believed to be reliable, but no representation or warranty is made, expressed or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of the information and opinions. The references and link to the website www.180degreecapital.com and mountlogancapital.ca have been provided as a convenience, and the information contained on such websites are not incorporated by reference into this press release. Neither 180 Degree Capital nor Mount Logan is responsible for the contents of third-party websites.

    The MIL Network –

  • MIL-OSI: TransUnion Announces Earnings Release Date for Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, June 27, 2025 (GLOBE NEWSWIRE) — TransUnion (NYSE: TRU) will publish its financial results for the second quarter ended June 30, 2025, in a press release to be issued at approximately 6:00 a.m. Central Time (CT) on Thursday, July 24, 2025. The company will hold a conference call on the same day at 8:30 a.m. (CT) to discuss its financial results. The press release and a live webcast of the earnings conference call will be available on the TransUnion Investor Relations website at http://www.transunion.com/tru.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

    http://www.transunion.com/business

    The MIL Network –

  • MIL-OSI Canada: Government of Canada Enhances Safety and Strengthens Local Fisheries by Reconstructing Torbay Wharf

    Source: Government of Canada News

    June 27, 2025

    Torbay, Newfoundland and Labrador – Small craft harbours are the heart of coastal communities, bringing people together for both work and leisure. Investing in infrastructure is essential to strengthen local commercial and recreational fisheries and provide reliable and safe harbours for their users. Nationally, these harbours support over 45,000 Canadians employed in the fish and seafood industry.

    In line with the Government of Canada’s commitment to economic growth and support for coastal communities, the Honourable Joanne Thompson, Minister of Fisheries, announced a $4.1 million investment for the reconstruction of the Torbay wharf in Newfoundland and Labrador which is a hub for commerce, community and local culture.

    To improve safety, existing infrastructure will be removed and replaced with a new timber wharf and concrete spray wall, specially designed to withstand extreme weather events resulting from climate change. The reconstructed wharf, expected to be completed in May 2026, will support the region’s economy and culture by boosting commercial and recreational fisheries, which provides jobs and help preserves the community’s traditions and way of life. Many small craft harbours, like Torbay Wharf, are the economic engines fueling coastal, rural and Indigenous communities across Canada. Keeping them in good working condition and resilient from weather challenges supports the economies and traditions of these important communities.

    MIL OSI Canada News –

  • MIL-OSI Banking: India’s International Investment Position (IIP), March 2025

    Source: Reserve Bank of India

    Today, the Reserve Bank released data relating to India’s International Investment Position for end-March 2025[1].

    Key Features

    IIP during January-March 2025:

    • Net claims of non-residents on India declined by US$ 34.2 billion during Q4:2024-25 to US$ 330.0 billion as at end-March 2025.

    • Higher rise in Indian residents’ overseas financial assets (US$ 60.0 billion) as compared to that in the foreign-owned assets in India (US$ 25.8 billion) led to the decline in net claims of non-residents during the quarter (Table 1).

    • Increase in reserve assets accounted for over 54 per cent of the rise in Indian residents’ overseas financial assets, followed by currency & deposits and direct investments.

    • Rise in loans (US$ 10.0 billion) and inward direct investment (US$ 9.7 billion) together accounted for over three-fourths of the rise in foreign liabilities of Indian residents during January-March 2025.

    • Reserve assets accounted for 58.7 per cent of India’s international financial assets (Table 3).

    • The ratio of India’s international assets to international liabilities increased to 77.5 per cent in March 2025 from 74.8 per cent a quarter ago (Chart 1 & Table 1).

    • The share of debt liabilities in total external liabilities increased during the quarter and stood at 54.8 per cent (Table 4).

    IIP during April-March 2024-25:

    • During 2024-25, the net claims of non-residents declined by US$ 31.2 billion on the back of higher rise in India’s external financial assets (US $ 105.4 billion) vis-à-vis external financial liabilities (US $ 74.2 billion) (Table 1).

    • Over 72 per cent of the rise in India’s overseas financial assets was due to increase in overseas direct investment, currency & deposits, and reserve assets.

    • Inward direct investments, loans as well as currency & deposits accounted for over three-fourths of the rise in foreign liabilities during the year.

    • The ratio of India’s international financial assets to international financial liabilities increased to 77.5 per cent in March 2025 from 74.1 per cent a year ago (Chart 1 & Table 1).

    Ratio of International Financial Assets and Liabilities to Gross Domestic Product (GDP):

    • As a ratio to GDP (at current market prices), residents’ overseas financial assets increased and external financial liabilities declined during 2024-25 (Table 2).

    • The ratio of net claims of non-residents on India to GDP improved to (-)8.7 per cent in March 2025 from (-)10.1 per cent a year ago, and (-)14.1 per cent five years ago.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/616

    Table 1: Overall International Investment Position of India
    (US$ billion)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    Net IIP (A-B) -361.2 -366.9 -353.0 -364.2 -330.0
    A. Assets 1,033.8 1,052.0 1,119.4 1,079.2 1,139.2
      1. Direct Investment 242.3 246.6 254.5 260.8 270.5
        1.1 Equity and investment fund shares 153.4 156.6 162.4 166.5 173.6
        1.2 Debt instruments 88.9 90.0 92.1 94.3 96.9
      2. Portfolio Investment 12.5 12.4 12.5 12.2 13.7
        2.1 Equity and investment fund shares 11.0 10.7 11.2 9.4 8.7
        2.2 Debt securities 1.5 1.7 1.3 2.8 5.0
      3. Other Investment 132.6 141.0 146.6 170.5 186.7
        3.1 Trade Credits 33.4 32.8 32.9 33.2 33.4
        3.2 Loans 17.6 20.8 22.1 22.5 25.9
        3.3 Currency and Deposits 53.5 57.8 56.1 68.6 79.3
        3.4 Other Assets 28.1 29.6 35.5 46.2 48.1
      4. Reserve Assets 646.4 652.0 705.8 635.7 668.3
    B. Liabilities 1,395.0 1,418.9 1,472.4 1,443.4 1,469.2
      1. Direct Investment 542.9 552.8 555.3 547.1 556.8
        1.1 Equity and investment fund shares 511.1 520.6 522.8 513.0 521.9
        1.2 Debt instruments 31.8 32.2 32.5 34.1 34.9
      2. Portfolio Investment 277.3 277.4 294.3 276.6 272.0
        2.1 Equity and investment fund shares 162.1 160.9 170.9 155.6 141.9
        2.2 Debt securities 115.2 116.5 123.4 121.0 130.1
      3. Other Investment 574.8 588.7 622.8 619.7 640.4
        3.1 Trade Credits 123.7 125.9 131.3 135.6 131.2
        3.2 Loans 221.4 224.6 239.4 240.6 250.6
        3.3 Currency and Deposits 154.8 160.6 164.1 165.7 167.6
        3.4 Other Liabilities 74.9 77.6 88.0 77.8 91.0
    of which:          
    Special drawing rights (Net incurrence of liabilities) 21.9 21.8 22.4 21.6 22.0
    Memo Item: Assets to Liability ratio (%) 74.1 74.1 76.0 74.8 77.5
    Notes (applicable for all tables):
    1. P: Provisional; PR: Partially Revised; and R: Revised.
    2. The sum of the constituent items may not add to the total due to rounding off.
    Table 2: Ratios of External Financial Assets and Liabilities to GDP
    (per cent)
    Period Mar-23 (R) Mar-24 (PR) Mar-25 (P)
    Net IIP (A-B) -11.3 -10.1 -8.7
    A. Assets 28.2 28.5 29.3
      1. Direct Investment 6.8 6.7 6.9
        1.1 Equity and investment fund shares 4.3 4.2 4.4
        1.2 Debt instruments 2.5 2.5 2.5
      2. Portfolio Investment 0.5 0.3 0.3
        2.1 Equity and investment fund shares 0.3 0.3 0.2
        2.2 Debt securities 0.2 –   0.1
      3. Other Investment 3.2 3.6 4.8
        3.1 Trade Credits 0.8 0.8 0.8
        3.2 Loans 0.4 0.5 0.7
        3.3 Currency and Deposits 1.0 1.5 2.1
        3.4 Other Assets 1.0 0.8 1.2
      4. Reserve Assets 17.7 17.9 17.3
    B. Liabilities 39.5 38.6 38.0
      1. Direct Investment 16.0 15.0 14.4
        1.1 Equity and investment fund shares 15.1 14.1 13.5
        1.2 Debt instruments 0.9 0.9 0.9
      2. Portfolio Investment 7.5 7.7 7.1
        2.1 Equity and investment fund shares 4.3 4.5 3.7
        2.2 Debt securities 3.2 3.2 3.4
      3. Other Investment 16.0 15.9 16.5
        3.1 Trade Credits 3.8 3.4 3.4
        3.2 Loans 6.2 6.1 6.5
        3.3 Currency and Deposits 4.3 4.3 4.3
        3.4 Other Assets 1.7 2.1 2.3
    of which:      
    Special drawing rights (Net incurrence of liabilities) 0.7 0.6 0.6
    Table 3: Composition of International Financial Assets and Liabilities of India
    (per cent)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    A. Assets
    1. Direct Investment 23.4 23.4 22.7 24.2 23.7
    2. Portfolio Investment 1.2 1.2 1.1 1.1 1.2
    3. Other Investment 12.9 13.4 13.1 15.8 16.4
    4. Reserve Assets 62.5 62.0 63.1 58.9 58.7
    Total 100.0 100.0 100.0 100.0 100.0
    B. Liabilities
        1. Direct Investment 38.9 39.0 37.7 37.9 37.9
        2. Portfolio Investment 19.9 19.5 20.0 19.2 18.5
        3. Other Investment 41.2 41.5 42.3 42.9 43.6
    Total 100.0 100.0 100.0 100.0 100.0
    Table 4: Share of External Debt and Non-Debt Liabilities of India
    (per cent)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    Non-Debt Liabilities 48.3 48.0 47.1 46.3 45.2
    Debt Liabilities 51.7 52.0 52.9 53.7 54.8
    Total 100.0 100.0 100.0 100.0 100.0

    MIL OSI Global Banks –

  • MIL-OSI Economics: Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2024-25

    Source: Reserve Bank of India

    Preliminary data on India’s balance of payments (BoP) for the fourth quarter (Q4), i.e., January-March 2024-25, are presented in Statements I and II.

    Key Features of India’s BoP in Q4:2024-25

    • India’s current account balance recorded a surplus of US$ 13.5 billion (1.3 per cent of GDP) in Q4:2024-25 as compared with US$ 4.6 billion (0.5 per cent of GDP) in Q4:2023-24 and against a deficit of US$ 11.3 billion (1.1 per cent of GDP) in Q3:2024-25.1
    • Merchandise trade deficit at US$ 59.5 billion in Q4:2024-25 was higher than US$ 52.0 billion in Q4:2023-24. However, it moderated from US$ 79.3 billion in Q3:2024-25.
    • Net services receipts increased to US$ 53.3 billion in Q4:2024-25 from US$ 42.7 billion a year ago. Services exports have risen on a y-o-y basis in major categories such as business services and computer services.
    • Net outgo on the primary income account, primarily reflecting payments of investment income, moderated to US$ 11.9 billion in Q4:2024-25 from US$ 14.8 billion in Q4:2023-24.
    • Personal transfer receipts, mainly representing remittances by Indians employed overseas, rose to US$ 33.9 billion in Q4:2024-25 from US$ 31.3 billion in Q4:2023-24.
    • In the financial account, foreign direct investment (FDI) recorded a net inflow of US$ 0.4 billion in Q4:2024-25 as compared to an inflow of US$ 2.3 billion in the corresponding period of 2023-24.
    • Foreign portfolio investment (FPI) recorded a net outflow of US$ 5.9 billion in Q4:2024-25 as against a net inflow of US$ 11.4 billion in Q4:2023-24.
    • Net inflows under external commercial borrowings (ECBs) to India amounted to US$ 7.4 billion in Q4:2024-25, as compared to US$ 2.6 billion in the corresponding period a year ago.
    • Non-resident deposits (NRI deposits) recorded a net inflow of US$ 2.8 billion in Q4:2024-25, lower than US$ 5.4 billion a year ago.

    BoP During 2024-25

    • India’s current account deficit at US$ 23.3 billion (0.6 per cent of GDP) during 2024-25 was lower than US$ 26.0 billion (0.7 per cent of GDP) during 2023-24, primarily due to higher net invisibles receipts.

    • During 2024-25, FPI recorded a net inflow of US$ 3.6 billion, lower than US$ 44.1 billion a year ago.

    Table 1: Major Items of India’s Balance of Payments
    (US$ billion)
      January-March 2024 PR January-March 2025 P 2023-24 PR 2024-25 P
      Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit Net
    A. Current Account 253.5 248.9 4.6 264.9 251.4 13.5 942.8 968.9 -26.0 1018.3 1041.6 -23.3
    1. Goods 121.6 173.6 -52.0 116.3 175.8 -59.5 441.4 686.4 -244.9 441.8 729.0 -287.2
       of which:                        
          POL 22.2 48.8 -26.5 14.1 44.3 -30.2 84.2 178.7 -94.6 63.3 185.8 -122.4
    2. Services 89.4 46.7 42.7 102.0 48.7 53.3 341.1 178.3 162.8 387.5 198.7 188.8
    3. Primary Income 10.5 25.3 -14.8 11.9 23.8 -11.9 41.5 91.2 -49.7 53.4 101.8 -48.4
    4. Secondary Income 32.1 3.4 28.7 34.7 3.2 31.5 118.9 13.0 105.9 135.6 12.1 123.5
    B. Capital Account and Financial Account 248.0 253.3 -5.2 255.8 270.2 -14.4 851.9 826.3 25.6 1154.5 1132.8 21.7
       of which:                        
    1. Direct Investment 20.2 17.9 2.3 18.5 18.1 0.4 74.9 64.8 10.2 84.2 83.2 1.0
    2. Portfolio Investment 138.9 127.5 11.4 126.0 131.8 -5.9 466.1 422.0 44.1 639.3 635.8 3.6
    3. Other Investments 82.7 67.7 14.9 106.2 98.8 7.4 287.8 244.7 43.1 368.6 334.2 34.5
       of which:                        
         NRI Deposits 26.0 20.7 5.4 26.3 23.5 2.8 88.6 73.9 14.7 104.5 88.4 16.2
         ECBs to India 11.7 9.2 2.6 15.6 8.2 7.4 33.5 29.9 3.5 47.8 29.4 18.4
    4. Reserve Assets [Increase (-)/Decrease (+)] 0.0 30.8 -30.8 0.0 8.8 -8.8 0.0 63.7 -63.7 37.7 32.6 5.0
    C. Errors & Omissions (-) (A+B) 0.6 0.0 0.6 0.9 0.0 0.9 1.6 1.2 0.4 2.0 0.4 1.5
    PR: Partially Revised; and P: Preliminary.
    Note: Total of sub-components may not tally with aggregate due to rounding off.

    (Puneet Pancholy)   
    Chief General Manager

    Press Release: 2025-2026/611

    MIL OSI Economics –

  • MIL-OSI Economics: AML/CFT Handbook updated to reflect National Risk Appetite Statement

    Source: Isle of Man

    The Isle of Man Government has recently published a National Risk Appetite Statement (NRAS) with a focus on the eGaming sector and related industries.

    The NRAS has been produced in response to the evolving threat landscape, particularly from serious and organised crime in East and Southeast Asia. The NRAS provides clear, actionable guidance for businesses to assess and manage risks in both new and existing relationships.

    In conjunction with this cross-agency initiative, the Authority has updated its AML/CFT Handbook to reference the NRAS and provide guidance on where this should be considered by relevant persons in the course of their business activities.

    The revised Handbook includes links to the NRAS Frequently Asked Questions, along with an update to the Business Risk Assessment guidance in section 2.2.8.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Digital asset consultation begins

    Source: Hong Kong Information Services

    The Financial Services & the Treasury Bureau (FSTB) and the Securities & Futures Commission (SFC) today launched a joint public consultation on the legislative proposals for establishing licensing regimes for digital asset (DA) dealing and custodian service providers.

    The public consultation will last until August 29.

    Under the proposed licensing regime for DA dealing service providers, any person who carries on a business of providing DA dealing services in Hong Kong will have to be licensed by or registered with the SFC.

    Also, irrespective of whether the relevant DA dealing services are provided through a physical outlet and/or other platforms, both simple dealing services and more complex services will fall under the scope of the licensing regime.

    In addition, licensed or registered providers of DA dealing services will need to meet fit-and-proper criteria and comply with a range of regulatory requirements.

    The licensing regime will be fully implemented on the date the relevant statutory provisions come into effect.

    Meanwhile, under the proposed licensing regime for DA custodian service providers, any person carrying on a business in Hong Kong of providing DA custodian services will have to be licensed by or registered with the SFC.

    Licensed or registered providers of DA custodian services will also need to meet fit-and-proper criteria and comply with a range of regulatory requirements.

    Secretary for Financial Services & the Treasury Christopher Hui said the Government is striving to build Hong Kong into a premier global hub for DAs, adding that upholding investor protection is of utmost concern.

    “The proposed licensing regimes will lay a solid foundation for us to establish a comprehensive regulatory framework for DAs with investor and customer protection at its core.

    “The move will also help realise our vision to build Hong Kong’s DA ecosystem into a highly trusted one that will flourish sustainably and responsibly in a risk-managed manner, thereby delivering concrete benefits to the real economy and financial markets.”

    The public and stakeholders can submit their views by post to the FSTB at 24/F, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong.

    They can also send their views on the licensing regime for DA trading service providers or the licensing regime for DA custodian service providers by email.

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Government identifies 59 biodiversity projects to unlock green finance

    Source: South Africa News Agency

    Government has identified 59 bankable biodiversity projects that are expected to generate at least $450,000 in green finance, Minister of Forestry, Fisheries and the Environment, Dr Dion George announced during the department’s budget vote speech in Parliament on Friday.

    These funds were identified through the biodiversity sector investment portal, which links investors with bankable projects as a means of growing the biodiversity economy. 

    The portal is among the initiatives by the Department of Forestry, Fisheries and the Environment (DFFE) has undertaken to position the department as a national leader in environmental financing.

    “In the face of budget cuts, the DFFE is doubling down on financial discipline and innovation to ensure every rand unlocks value for people and the environment. Our proactive spending review, initiated in October 2024, has identified significant cost-saving opportunities,  aiming to redirect resources towards high-impact environmental and conservation initiatives.

    “Each branch is now mandated to explore new revenue streams, reduce unnecessary expenditure, and secure sustainable financing. Work has also begun on draft regulations to unlock the value of carbon credits,” the Minister said.

    These will lay the groundwork for monetising environmental assets under the department’s portfolio – supporting job creation, habitat conservation, private sector investment, and financing of priority programmes. 

    “This marks a bold step toward positioning DFFE as a national leader in environmental financing. To support this broader mandate, we have launched discussions with international donors, private partners, and philanthropies.

    “The Green Fund, managed by the Development Bank of Southern Africa (DBSA), continues to channel public funding into innovative climate, energy, and waste projects. Our investment portal for the biodiversity economy has already spotlighted 59 bankable projects, leading to at least $450,000 in green finance committed,” he said.

    George assured parliament that the department’s entities continue to deliver exceptional impact – conserving our heritage, generating jobs, and building community resilience.

    “The South African National Parks (SANParks)  has placed inclusive development at the centre of its conservation mandate. Over the past five years, it has provided over 21 000 full-time jobs through the Expanded Public Works Programme, supported 3 127 small, micro and medium enterprises (SMMEs), and delivered 2 264 animals to emerging game farmers—ensuring that protected areas become engines of opportunity for surrounding communities.

    “iSimangaliso Wetland Park Authority is advancing its commercialisation strategy, with 62 contracts already signed and new revenue from tourism concessionaires set to flow directly to the entity from 1 September 2025,” the Minister said.

    As the nation’s frontline in early warning systems, the South African Weather Service has issued nearly 1 400 severe weather alerts last year and reached over 2 million vulnerable citizens through a targeted community radio programme and 32 outreach events. 

    “These efforts not only save lives but empower South Africans with climate information they can act on. The South African National Bioinformatics Institute (SANBI), South Africa’s national biodiversity steward, continues to lead in climate finance. A $40 million Green Climate Fund project will launch this year, benefiting over 350,000 people directly and 1.5 million indirectly through investments in ecosystem-based disaster risk reduction.

    “These achievements demonstrate that when we invest in our environmental entities, we invest in jobs, resilience, and a sustainable future,” the Minister said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: SA ratifies landmark women and youth protocol for inclusive trade

    Source: South Africa News Agency

    South Africa has taken a significant step in fostering inclusive growth by officially ratified the Protocol Women and Youth in Trade under the African Continental Free Trade Area.

    This was announced by Deputy President Paul Mashatile, who addressed the High-Level G20 Intergenerational Roundtable, hosted by the National Youth Development Agency (NYDA) on Friday.

    “This milestone is not just a symbolic gesture; it is a decisive policy action that signals our intent to mainstream gender and youth equity within intra-African trade policy.

    “The protocol is significant because it operationalises the inclusion of woman-led and youth-led enterprises in regional and global value chains. It mandates the removal of structural trade barriers, prioritises access to information, finances, and markets, as well as requires state parties to create enabling legal and policy environments for inclusive economic participation,” he said.

    The Deputy President reflected on the continent’s youthful population and noted that youth “remain on the margins of formal trade”.

    Therefore, the protocol on women and youth will assist to “rewire trade systems to reflect demographic and developmental realities”.

    “South Africa’s ratification means we are committed not only to advocating for inclusive trade but also to designing trade systems that are fit for purpose. This inclusion reinforces South Africa’s leadership role on the continent and supports the broader message of building youth capabilities for a developmental State.

    “We understand that we need young people to meaningfully build capable, ethical, and developmental states. We must integrate youth into national and continental planning frameworks, not just as beneficiaries but also as co-architects of development,” he said.

    Promoting inclusive growth

    Mashatile emphasised that a “functioning and competent” government is needed if youth are to break free from marginalisation.

    “Therefore, the first and most pressing priority of our government is the promotion of inclusive economic growth, industrialisation, employment, and reducing inequality.

    “The time has come for us to move beyond inclusion as a moral goal and make it a measurable outcome.

    “In this regard, it is important for the economy to strengthen the viable pathways for youth inclusion. We have noted that young people complain about the red tape and bureaucratic hurdles they need to overcome to access services designed to support and scale their entrepreneurial effort,” Mashatile said.

    He noted that a specialised unit has been established in the Presidency to address the business climate and address regulatory challenges.

    “This team is adopting a coordinated, cross-sectoral approach, engaging various government departments and entities to streamline processes and enable business growth.

    “Key interventions in this regard will target the removal of administrative bottlenecks in strategic sectors. These include improvements to the mining licensing framework, facilitation of tourism transport permits, and streamlining of visa and work permit processes, as well as regulatory support for early childhood development services and the informal economy,” Mashatile said.

    Furthermore, government will:

    • Anchor youth inclusion in every major pillar of our G20 Presidency, from climate finance and trade facilitation to digital transformation and skills mobility.
    • Institutionalise intergenerational co-leadership in governance frameworks, moving beyond consultation to shared power and shared design.
    • Work with regional and global partners to implement targeted reforms that enable young people to start businesses, access capital, and engage in cross-border trade.

    “The developmental State we seek to build is not a theoretical construct; it must be a living architecture built on the capabilities, aspirations, and contributions of its young people.

    “This roundtable has made one thing clear: youth are not merely beneficiaries of policy; they are builders of nations. We must now ensure that the decisions we take at multilateral forums reflect this truth. 

    “Let the G20 remember that Africa is young. South Africa is ready, and we want young people to take the lead in the developmental and transformation agenda. The future is yours, and you are the future. Stand up, persevere, and confront every challenge with persistence. We are here to provide you with the support you need as you navigate this process,” the Deputy President concluded. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Russia: The number of private sector businesses is growing in China

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, June 27 (Xinhua) — The number of private sector businesses in China reached 185 million by the end of May, up 2.3 percent year on year, official data showed Friday.

    According to the State Administration for Market Regulation of the People’s Republic of China, the private sector, which includes private enterprises and sole proprietors, accounted for 96.76 percent of the total number of business entities in the country.

    The number of private enterprises has exceeded 58 million, up 5.2 percent year-on-year. These enterprises have been steadily increasing investment in technological innovation and actively developing strategic new industries such as new energy and high-tech mechanical engineering, becoming a key pillar of industrial modernization and stable economic growth.

    The number of individual entrepreneurs by the end of May this year increased by 1% year-on-year to 127 million. The department noted that flexible and diverse business models in the areas of retail, catering and household services make it possible to meet the diverse needs of the population.

    In 2024, private enterprises accounted for more than half of China’s foreign trade and tax revenue, and more than 80 percent of urban employment. More importantly, they play a major role in strengthening the country’s innovation capacity, accounting for more than 70 percent of technological achievements.

    To optimize the private sector development environment, ensure fair market competition, and promote the growth of both the private economy and entrepreneurs, China passed the Law on Encouraging the Development of the Private Sector earlier this year. The law strengthens legal guarantees and gives new impetus to the key driver of the world’s second-largest economy. -0-

    MIL OSI Russia News –

  • MIL-OSI Economics: Scheduled Banks’ Statement of Position in India as on Friday, June 13, 2025

    Source: Reserve Bank of India

    (Amount in ₹ crore)
      SCHEDULED COMMERCIAL BANKS
    (Including RRBs, SFBs and PBs)    		 ALL SCHEDULED BANKS
    14-Jun-2024 30-May-2025* 13-Jun-2025* 14-Jun-2024 30-May-2025* 13-Jun-2025*
    I LIABILITIES TO THE BKG.SYSTEM (A)            
      a) Demand & Time deposits from banks 273308.16 365140.08 340603.24 277097.38 370999.12 346319.8749**
      b) Borrowings from banks 152185.60 110552.25 109671.80 152187.60 110574.25 109889.53
      c) Other demand & time liabilities 76032.19 25071.47 23927.34 76298.36 25465.93 24362.82
    II LIABILITIES TO OTHERS (A)            
      a) Deposits (other than from banks) 20902918.17 23172542.62 23069772.55 21358407.93 23662773.91 23561872.69
      i) Demand 2390694.11 2988920.70 2859239.01 2440672.19 3038379.44 2908818.31
      ii) Time 18512224.06 20183621.92 20210533.54 18917735.75 20624394.47 20653054.38
      b) Borrowings @ 780674.69 895727.00 837462.68 785083.63 900193.89 841977.70
      c) Other demand & time liabilities 965607.06 1034573.60 1106232.23 978521.91 1047707.96 1120178.02
    III BORROWINGS FROM R.B.I. (B) 111102.00 6516.00 2248.00 111102.00 6516.00 2248.00
      Against usance bills and / or prom. Notes            
    IV CASH 85283.14 87179.07 90471.61 87674.97 89604.92 93073.93
    V BALANCES WITH R.B.I. (B) 983708.00 956086.24 932453.46 1003434.00 975236.91 951630.59
    VI ASSETS WITH BANKING SYSTEM            
      a) Balances with other banks            
      i) In current accounts 7664.17 11434.59 10498.68 10483.91 13853.23 12729.59
      ii) In other accounts 178513.58 255330.58 244036.86 224431.26 318135.43 308394.18
      b) Money at call & short notice 11390.08 22812.64 21743.92 25192.27 40349.51 37684.89
      c) Advances to banks (i.e. due from bks.) 52270.19 36147.80 31496.42 54389.85 38542.46 33717.34£
      d) Other assets 107937.02 78091.66 65849.37 110591.29 82799.25 71109.15
    VII INVESTMENTS (At book value) 6231385.82 6706717.24 6691443.60 6384112.72 6861687.28 6877810.85
      a) Central & State Govt. securities+ 6230374.06 6706168.85 6690874.45 6376135.84 6853140.23 6869498.86
      b) Other approved securities 1011.77 548.39 569.14 7976.88 8547.05 8311.99
    VIII BANK CREDIT (Excluding Inter-Bank Advances) 16706417.54 18287376.91 18313977.69 17143118.18 18753740.95 18783780.83
      a) Loans, cash credits & Overdrafts $ 16392988.28 17949958.34 17976567.95 16826405.29 18412982.24 18443143.24
      b) Inland Bills purchased 64052.90 79467.07 78124.27 65383.33 80743.89 79300.44
      c) Inland Bills discounted 208278.98 222449.12 223752.50 209565.71 223956.61 225217.50
      d) Foreign Bills purchased 16140.00 13866.49 13510.87 16370.65 14063.24 13738.06
      e) Foreign Bills discounted 24957.38 21635.89 22022.09 25393.21 21994.97 22381.60
    NOTE
    * Provisional figures incorporated in respect of such banks as have not been able to submit final figures.
    (A) Demand and Time Liabilities do not include borrowings of any Scheduled State Co-operative Bank from State Government and any reserve fund deposits maintained with such banks by any co-operative society within the areas of operation of such banks.
    ** This excludes deposits of Co-operative Banks with Scheduled State Co-operative Banks. These are included under item II (a).
    @ Other than from Reserve Bank, National Bank for Agriculture and Rural Development and Export Import Bank of India.
    (B) The figures relating to Scheduled Commercial Banks’ Borrowings in India from Reserve Bank and balances with Reserve Bank are those shown in the statement of affairs of the Reserve Bank. Borrowings against usance bills and/ or promissory notes are under Section 17(4)(c) of the Reserve Bank of India Act, 1934. Following a change in the accounting practise for LAF transactions with effect from July 11, 2014, as per the recommendations of Malegam Committee formed to Review the Format of Balance Sheet and the Profit and Loss Account of the Bank, the transactions in case of Repo / Term Repo / MSF are reflected under ‘Borrowings from RBI’.
    £ This excludes advances granted by Scheduled State Co-operative Banks to Co-operative banks. These are included under item VIII (a).
    + Includes Treasury Bills, Treasury Deposits, Treasury Savings Certificates and postal obligations.
    $ Includes advances granted by Scheduled Commercial Banks and Scheduled Cooperative Banks to Public Food Procurement Agencies (viz. Food Corporation of India, State Government and their agencies under the Food consortium).
    Food Credit Outstanding as on
    (Amount in ₹ crore)
    Date 14-Jun-2024 30-May-2025 13-Jun-2025
    Scheduled Commercial Banks 36923.02 70580.71 67605.56
    Scheduled Co-operative Banks 50622.17 51972.99 51974.00

    The expression ‘Banking System’ or ‘Banks’ means the banks and any other financial institution referred to in sub-clauses (i) to (vi) of clause (d) of the explanation below Section 42(1) of the Reserve Bank of India Act, 1934.

    No. of Scheduled Commercial Banks as on Current Fortnight:120

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/606

    MIL OSI Economics –

  • MIL-OSI China: China willing to maintain economic, trade exchanges with U.S.: vice finance minister

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

    China willing to maintain economic, trade exchanges with U.S.: vice finance minister

    BEIJING, June 27 — China is willing to maintain economic and trade exchanges with the United States based on equality, mutual respect and mutual benefit to deliver benefits to both countries and the world, Vice Minister of Finance Liao Min said, according to a statement released by the ministry on Friday.

    Liao made the remarks when meeting with Graham Allison, a professor from Harvard University, on June 20. The two sides had in-depth exchanges on China-U.S. relations, bilateral economic and trade ties, and issues of mutual concern.

    Guided by the important consensus reached by the two heads of state, the Chinese and U.S. economic and trade teams reached a consensus during high-level talks in Geneva and a principled agreement on consolidating those outcomes in London, and these developments have played an important role in stabilizing both China-U.S. relations and their economic and trade ties, Liao noted.

    He stressed that China will firmly safeguard its legitimate rights and interests. And China is also willing to maintain economic and trade exchanges with the United States based on equality, mutual respect and mutual benefit to deliver benefits to both countries and the world.

    Allison said that the relationship between the United States and China is one of the most important bilateral relationships in the world, and it is of vital importance that both sides maintain and deepen communication.

    He noted that China has achieved notable progress in advancing economic transformation, expanding opening up, and fostering a fair and just market environment. Given the high interdependence of the U.S. and Chinese economies, further deepening economic and trade exchanges serves the common interests of both countries and the world, he said.

    MIL OSI China News –