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Category: Economy

  • MIL-OSI Europe: Highlights – DEVE Delegation at the 4th Financing for Development Conference (FfD4) in Sevilla – Committee on Development

    Source: European Parliament

    4th international conference on Financing for Development in Sevilla © UN

    A 4-Member DEVE delegation will travel to the 4th Financing for Development Conference (FfD4) in Sevilla, from Monday 30th June to Wednesday 2nd July. The purpose of the delegation is to exchange views with all stakeholders, to provide political stimulus for far-reaching reforms of the international financial architecture, to help put financing for development on a more solid foundation, and to send a message in support of the parliamentary dimension of democracy and of multilateralism.

    MIL OSI Europe News –

    June 25, 2025
  • MIL-OSI Europe: Missions – DEVE Delegation at the 4th Financing for Development Conference (FfD4) in Sevilla – 30-06-2025 – Committee on Development

    Source: European Parliament

    A 4-Member DEVE delegation will travel to the 4th Financing for Development Conference (FfD4) in Seville, from Monday 30th June to Wednesday 2nd July. The purpose of the delegation is to exchange views with all stakeholders, to provide political stimulus for far-reaching reforms of the international financial architecture, to help put financing for development on a more solid foundation, and to send a message in support of the parliamentary dimension of democracy and of multilateralism.

    FfD4 follows on from the Third International Conference on Financing for Development in Addis Ababa in 2015. It provides a unique opportunity to reform financing for development at all levels, be it reform of the international financial architecture, debt relief, taxation, domestic resource mobilisation, private sector financing, and others. The conference is timely, as there is a strong sense of urgency to take action: the SDGs are grossly underfinanced (the financing gap stands now at over 4 trillion USD annually), and at the same time cuts in ODA are being envisaged or already implemented in many donor countries. Conferences such as FfD4 are the only spaces where leaders from all governments, along with international and regional organisations, financial and trade institutions, businesses, civil society and the UN System unite at the highest levels, to foster stronger international cooperation.

    MIL OSI Europe News –

    June 25, 2025
  • MIL-OSI Europe: Burundi: Inauguration of Jiji hydroelectric power plant – a huge step towards energy self-sufficiency

    Source: European Investment Bank

    EIB

    The President of the Republic of Burundi today officially inaugurated the Jiji hydroelectric power plant, in the presence of a large delegation of national authorities and representatives of the development partners that co-financed the project. Located in Bururi province, this large-scale infrastructure marks a key step forward in the country’s pursuit of energy self-sufficiency. It is also a strong signal for an investment-friendly climate to ensure more inclusive and sustainable economic development for Burundi.

    With the Mulembwe plant to be completed in the coming months, the two plants will have an installed capacity of 49.5 megawatts and estimated annual production of 235 gigawatt hours of clean energy. They will provide electricity to 15 000 households, 7 000 businesses and 1 700 industrial facilities. This new capacity will not only improve access to electricity for thousands of people, but will also boost productivity in key sectors such as health, education, agribusiness and ICT.

    The construction of these two plants at a total cost of $320 million was made possible thanks to strong cooperation between the Burundi government and the development partners – the African Development Bank (AfDB), the European Investment Bank (EIB), the World Bank (WB) and the European Union (EU).

    Speaking at the inauguration, AfDB Country Manager in Burundi Pascal Yembiline said: “As a longstanding partner of Burundi, the African Development Bank is proud to have contributed to the implementation of this infrastructure project, which is fully in line with its strategic priorities, the Hi-5s. We are convinced that this flagship infrastructure will increase access to reliable and affordable energy and help create a sustainably prosperous Burundi.”

    Head of the EIB Regional Hub for East Africa Edward Claessen said: “The fact that the Jiji and Mulembwe dam project is a renewable energy project, reducing dependence on imported fossil fuels, is particularly significant. Our financing for this project formed part of the European Union’s strategy to develop clean, sustainable infrastructure in Africa and is also aligned with decarbonisation efforts needed by companies to grow.”

    World Bank Representative in Burundi Hawa Cisse Wagué added that: “The Jiji hydroelectric power plant and the lines and substations built as part of the project are not infrastructure like any other. This infrastructure helps ensure Burundi’s economic and social development. It is a key driver to improve people’s access to energy as well as supporting industrialisation, job creation and economic growth.”

    EU Ambassador and Head of Delegation to Burundi Elisabetta Pietrobon stressed that: “Energy remains a central priority in development and thus in EU cooperation. This is why the European Union, its Member States and its institutions have supported this project from the very beginning, including funding for the various design and implementation phases, right up to the deployment of infrastructure and equipment. ”

    All of Burundi’s development partners unanimously confirmed their commitment to supporting the country in its transformation efforts on the road to achieving its strategic vision: to become an emerging country by 2040 and a developed country by 2060.

    Since the start of the construction phase, the project has created several hundred jobs, boosting the local economy while strengthening the technical capacities of the surrounding communities. Its entry into operation marks the beginning of a new cycle of opportunities, both in the energy sector and in other strategic areas. With more reliable, accessible and affordable energy, small and medium businesses will now have better conditions to develop, generate jobs and make a lasting contribution to the country’s economic growth. At the same time, the commissioning of the dam will help to create a trusting environment for investors, the people of Burundi and foreigners alike.

    Background information

    About EIB Global

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here.

    http://twitter.com/EIB

    https://www.linkedin.com/company/eib-global/

    Inauguration of Jiji hydroelectric power plant: a huge step towards Burundi’s energy self-sufficiency

    ©EIB
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    Inauguration of Jiji hydroelectric power plant: a huge step towards Burundi’s energy self-sufficiency

    ©EIB
    Download original

    Inauguration of Jiji hydroelectric power plant: a huge step towards Burundi’s energy self-sufficiency

    ©EIB
    Download original

    Inauguration of Jiji hydroelectric power plant: a huge step towards Burundi’s energy self-sufficiency

    ©EIB
    Download original

    Burundi: Inauguration of Jiji hydroelectric power plant: a huge step towards energy self-sufficiency

    ©EIB
    Download original

    Burundi: Inauguration of Jiji hydroelectric power plant: a huge step towards energy self-sufficiency

    ©EIB
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    MIL OSI Europe News –

    June 25, 2025
  • MIL-OSI: Bitget Heads to Milan as Sponsor at ETHMilan 2025

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 25, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, proudly joins ETHMilan 2025 as the official Viscoti Sponsor, aligned with its expansion strategy in Europe and beyond. Held on June 24 at the iconic Museo Nazionale Scienza e Tecnologia in Milan, Italy, ETHMilan brings together developers, founders, and thinkers shaping the decentralized future.

    This event follows hot on the heels of Bitget’s high-profile MotoGP partnership, marking a powerful back-to-back showcase of the brand’s expanding influence—on the track and on the blockchain stage. ETHMilan’s timing couldn’t be better, as it underscores Bitget’s commitment to blending mainstream visibility with meaningful industry engagement.

    ETHMilan 2025 gathered more than 1,000 participants and featured over 50 speakers, including notable names like Alessandro Mazza, Marco Monaco from TAC, Stefano Rossi from PwC Italia, and Filippo Moraschi (FolksFinance). As one of Italy’s largest Web3 conferences, ETHMilan has staged impactful panels on DeFi, DAOs, Ethereum scaling, and creative tech innovation.

    As part of this year’s program, Bitget’s Chief Operating Officer, Vugar Usi Zade, took to the stage to discuss how centralized exchanges (CEXs), blockchain, and crypto infrastructure are redefining the global financial system. In a cycle where institutions and regulations are finally catching up with the technology, Vugar shared insights on how CEXs are adapting, shifting from transactional platforms to ecosystem enablers.

    The appearance aligns with Bitget’s broader push to shape the discourse around crypto maturity, user trust, and long-term utility. “ETHMilan is more than a developer event—it’s a signal that Milan is becoming a serious node on the global Web3 map,” said Vugar. “Bitget is here not just to participate, but to help drive the conversations that move the industry forward.”

    Bitget also hosted a breakfast reception at the Museum of Science & Technology, offering builders and industry leaders a space to connect over key themes like compliance, CeFi/DeFi evolution, and everything else crypto-related.

    The event marks another milestone in Bitget’s expansion across Europe, where it continues to operate under increasing regulatory clarity, including licenses in Italy, Lithuania, Georgia, and several other markets. With over 120 million users globally and a daily trading volume of $20 billion, Bitget’s presence at ETHMilan reflects its commitment to driving adoption.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a809f43e-6a11-4cd5-bb64-df0a93e4886a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/44b3903e-1f12-4dce-88fd-00d96ccf4187

    The MIL Network –

    June 25, 2025
  • MIL-OSI: Bitget Heads to Milan as Sponsor at ETHMilan 2025

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 25, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, proudly joins ETHMilan 2025 as the official Viscoti Sponsor, aligned with its expansion strategy in Europe and beyond. Held on June 24 at the iconic Museo Nazionale Scienza e Tecnologia in Milan, Italy, ETHMilan brings together developers, founders, and thinkers shaping the decentralized future.

    This event follows hot on the heels of Bitget’s high-profile MotoGP partnership, marking a powerful back-to-back showcase of the brand’s expanding influence—on the track and on the blockchain stage. ETHMilan’s timing couldn’t be better, as it underscores Bitget’s commitment to blending mainstream visibility with meaningful industry engagement.

    ETHMilan 2025 gathered more than 1,000 participants and featured over 50 speakers, including notable names like Alessandro Mazza, Marco Monaco from TAC, Stefano Rossi from PwC Italia, and Filippo Moraschi (FolksFinance). As one of Italy’s largest Web3 conferences, ETHMilan has staged impactful panels on DeFi, DAOs, Ethereum scaling, and creative tech innovation.

    As part of this year’s program, Bitget’s Chief Operating Officer, Vugar Usi Zade, took to the stage to discuss how centralized exchanges (CEXs), blockchain, and crypto infrastructure are redefining the global financial system. In a cycle where institutions and regulations are finally catching up with the technology, Vugar shared insights on how CEXs are adapting, shifting from transactional platforms to ecosystem enablers.

    The appearance aligns with Bitget’s broader push to shape the discourse around crypto maturity, user trust, and long-term utility. “ETHMilan is more than a developer event—it’s a signal that Milan is becoming a serious node on the global Web3 map,” said Vugar. “Bitget is here not just to participate, but to help drive the conversations that move the industry forward.”

    Bitget also hosted a breakfast reception at the Museum of Science & Technology, offering builders and industry leaders a space to connect over key themes like compliance, CeFi/DeFi evolution, and everything else crypto-related.

    The event marks another milestone in Bitget’s expansion across Europe, where it continues to operate under increasing regulatory clarity, including licenses in Italy, Lithuania, Georgia, and several other markets. With over 120 million users globally and a daily trading volume of $20 billion, Bitget’s presence at ETHMilan reflects its commitment to driving adoption.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a809f43e-6a11-4cd5-bb64-df0a93e4886a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/44b3903e-1f12-4dce-88fd-00d96ccf4187

    The MIL Network –

    June 25, 2025
  • MIL-OSI: Santech Holdings Announces Unaudited Financial Results for the First Half of Fiscal Year 2025

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, June 25, 2025 (GLOBE NEWSWIRE) — Santech Holdings Ltd. (“Santech” or the “Company”) (NASDAQ: STEC) today announced its unaudited financial results for the first half of fiscal year 2025 ended December 31, 2024.

    Santech is a Cayman Islands holding company operating through its subsidiaries in Hong Kong and United States, primarily focusing on exploring opportunities in consumer technology, consumer healthcare and enterprise technology.

    First Half of Fiscal Year 2025 Highlights

    Continuing Operations

    Net revenues

    Total revenues from continuing operations in the six months ended December 31, 2024 decreased to nil from US$17.4 million in the same period of 2023, primarily due to Company having completely exited from overseas wealth management and asset management businesses during the reporting period. All remaining revenues from our prior overseas wealth management and asset management businesses during the reporting period have been reclassified under discontinued operations.

    Operating Costs and Expenses

    Cost of compensation and benefits from continuing operations in the six months ended December 31, 2024 decreased to nil from US$13.2 million in the same period of 2023.

    Sales and marketing expenses from continuing operations decreased to nil from US$1.5 million in the same period of 2023.

    All direct costs of revenue from overseas wealth management and asset management during the reporting period have been reclassified under discontinued operations.

    General and administrative expenses from continuing operations in the six months ended December 31, 2024 decreased by 4.3% to US$2.4 million from US$2.5 million in the same period of 2023, primarily due to ongoing cost cutting and restructuring.

    Other expenses, net from continuing operations in the six months ended December 31, 2024 were US$0.2 million, primarily due to the losses on early termination of operating lease.

    Discontinued Operations

    Results of discontinued operations are as follows:

               
      Six Months Ended December 31, 2023
      Two Months Ended August 31, 2024
      (US$’000)   (US$’000)
           
    Discontinued operations      
           
    Net revenues      
    Wealth management 2,442     11  
    Asset management 1,788     1,170  
    Total net revenues 4,230     1,181  
           
    Operating cost and expenses      
    Compensation and benefits 1,358     602  
    Sales and marketing expenses 315     –  
    General and administrative expenses 656     266  
    Asset impairment loss 2,158     –  
    Total operating cost and expenses 4,487     868  
           
    (Loss)/income from operations (257 )   313  
           
    Other expense, net (4 )   (1 )
           
    Income/(loss) before income tax expense (261 )   312  
    Income tax (expense)/credit (145 )   (29 )
    Net income/(loss) from discontinued operations (406 )   283  
           
    Gain on disposal of subsidiaries from discontinued operations, net –     138  
           
    (Loss)/income for the year from discontinued operations, net of income taxes (406 )   421  
           

    In August 2024, the Company completely exited from its historical businesses in overseas wealth management and asset management and disposed of certain subsidiaries in Hong Kong, namely, Haiyin Insurance (Hong Kong) Co., Limited and Hywin International Insurance Broker Limited for nil consideration, and Haiyin International Asset Management Limited and Hywin Asset Management (Hong Kong) Limited for US$0.6 million to a third party. The disposal was completed on August 31, 2024. After the disposals, the Company no longer holds any financial services licenses or houses any personnel licensed to provide financial services in Hong Kong.

    Net revenues

    Total revenues from discontinued operations in the two months ended August 31, 2024 decreased by 72.1% to US$1.2 million from US$4.2 million in the six months ended December 31, 2023, primarily due to cessation of operations in wealth management and asset management.

    Operating Costs and Expenses

    Cost of compensation and benefits from discontinued operations in the two months ended August 31, 2024 decreased by 55.7% to US$0.6 million from US$1.4 million, in line with the decreases in transaction value of wealth management and asset management businesses.

    Sales and marketing expenses decreased to nil from US$0.3 million in the six months ended December 31, 2023, due to discontinuation of sales and marketing activities.

    General and administrative expenses from discontinued operations in the two months ended August 31, 2024 decreased by 59.5% to US$0.3 million from US$0.7 million in the six months ended December 31, 2023.

    Asset impairment loss from discontinued operations in the six months ended December 31, 2023 represented impairment losses due to impairment of assets held in the PRC, and impairment of intangible assets including software and licenses due to disruption to our brand and our licensed financial services operations in Hong Kong.

    Loss from disposal of subsidiaries under discontinued operations

      Wealth management business   Asset management business   Total
      (US$’000)   (US$’000)   (US$’000)
               
    Considerations received –     641     641  
    Less: Net assets disposed of (134 )   (369 )   (503 )
               
    (Loss)/gain from disposal of subsidiaries (134 )   272     138  
     
     

    About Santech Holdings Limited
    Santech Holdings Limited (NASDAQ: STEC) is a technology-focused company. The Company historically served a large number of high net-worth clients in China and Hong Kong in wealth management, asset management and health management, and accumulated a large customer base. The Company has since exited or disposed of its historical businesses in financial services, and is actively exploring innovative new opportunities in technology verticals, including and not limited to consumer technologies and enterprise technologies. For more information, please visit https://ir.santechholdings.com.

    Safe Harbor Statement
    This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Investor Contact:
    Santech Holdings Limited
    Email: ir@santechholdings.com

    SANTECH HOLDINGS LTD.
    CONSOLIDATED BALANCE SHEETS
    (In thousands, except for number of shares and per share data)
     
      June 30,
    2024
      December 31,
    2024
      (US$’000)   (US$’000)
    Assets      
    Current assets:      
    Cash and cash equivalents 15,184     11,233  
    Deposits, prepayments and other current assets 320     72  
    Total current assets 15,504     11,305  
           
    Property and equipment, net 3     4  
    Right-of-use asset 1,235     –  
    Total non-current assets 1,238     4  
           
    Total Assets 16,742     11,309  
           
    Liabilities and Shareholders’ equity      
    Current liabilities:      
    Commission payable 859     –  
    Income tax payable 91     –  
    Due to related parties 11,488     11,062  
    Other payables and accrued liabilities 433     7  
    Lease liability 1,059     –  
    Total current liabilities 13,930     11,069  
           
    Lease liability 250     –  
    Total non-current liabilities 250     –  
           
    Total Liabilities 14,180     11,069  
           
    Shareholders’ Equity:      
    Ordinary shares (US$0.0001 par value; authorized 500,000,000 shares; issued and outstanding 56,000,000* shares (28,000,000 ADS) as of June 30, 2024, and December 31, 2024, respectively) 6     6  
    Additional paid-in capital 33,256     33,256  
    Accumulated deficit (30,700 )   (33,022 )
    Total shareholders’ equity 2,562     240  
           
    Total Liabilities and shareholders’ equity 16,742     11,309  
     
    SANTECH HOLDINGS LTD.
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (In thousands, except for share and per share data, or otherwise stated)
             
    Six Months Ended December 31,  
    2023   2024
      (US$’000)   (US$’000)
           
    Continuing operations      
           
    Net revenues      
    Insurance referral 17,351     –  
    Total net revenues 17,351     –  
           
    Operating cost and expenses      
    Compensation and benefits 13,210     –  
    Share-based compensation expense 102     –  
    Sales and marketing expenses 1,512     –  
    General and administrative expenses 2,469     2,364  
    Total operating cost and expenses 17,293     2,364  
           
    Income/(loss) from operations 58     (2,364 )
    Other income/(expenses)      
    Interest expense, net (63 )   (17 )
    Other income/(expense), net 72     (245 )
    Total other income/(expense), net 9     (262 )
           
    Income/(loss) before income tax expense 67     (2,626 )
    Income tax (expense)/credit –     (117 )
    Net income/(loss) from continuing operations 67     (2,743 )
           
    Discontinued operations      
           
    (Loss)/income for the year from discontinued operations, net of income taxes (406 )   421  
           
    Net loss and comprehensive loss for the period (339 )   (2,322 )
           
    (Loss)/income per share      
    From continuing and discontinued operations      
    Ordinary share – Basic (0.01 )   (0.04 )
    Ordinary share – Diluted (0.01 )   (0.04 )
    ADS – Basic (0.01 )   (0.08 )
    ADS – Diluted (0.01 )   (0.08 )
           
    From continuing operations      
    Ordinary share – Basic 0.00     (0.05 )
    Ordinary share – Diluted 0.00     (0.05 )
    ADS – Basic 0.00     (0.10 )
    ADS – Diluted 0.00     (0.10 )
           
           
    From continuing and discontinued operations      
    Ordinary share – Basic (0.01 )   0.01  
    Ordinary share – Diluted (0.01 )   0.01  
    ADS – Basic (0.01 )   0.02  
    ADS – Diluted (0.01 )   0.02  
           
    Weighted average number outstanding:      
    Ordinary share – Basic 56,000,000     56,000,000  
    Ordinary share – Diluted 56,000,000     56,000,000  
    ADS – Basic 28,000,000     28,000,000  
    ADS – Diluted 28,000,000     28,000,000  
     
    SANTECH HOLDINGS LTD.
    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
    (In thousands, except for share and per share data, or otherwise stated)
                                 
      Ordinary shares   Additional
    paid-in
    capital
      Accumulated
    deficit
      Total
    Shareholders’
    equity
                             
      Number of ordinary shares   Amount                  
            (US$’000)   (US$’000)   (US$’000)   (US$’000)
                 
                                 
    Balance as of June 30, 2024 56,000,000     6     33,256     (30,700 )   2,562  
     
    Net loss for the period –     –     –     (2,322 )   (2,322 )
     
    Balance as of December 31, 2024 56,000,000     6     33,256     (33,022 )   240  
     

    The MIL Network –

    June 25, 2025
  • MIL-OSI: IgniteX Sponsors Taiwan Blockchain Hackathon, Empowering Next Generation of Web3 Innovators

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 25, 2025 (GLOBE NEWSWIRE) — MEXC IgniteX, successfully concluded its Silver Partnership sponsorship of Taiwan’s premier Blockchain Hackathon series with Demo Day on June 22, 2025.

    Four-Week Innovation Program

    The comprehensive hackathon program brought together Taiwan’s brightest blockchain developers across four sessions from June 8-22. The series included an opening ceremony on June 8th, intensive development sessions on June 10th and 18th, and concluded with Demo Day and expert panel discussion on June 22.

    Strategic Partnership Impact

    As a Silver Sponsor, IgniteX achieved significant brand visibility throughout the event series. The partnership included strategic booth presence and comprehensive integration across university blockchain communities, local DAOs, and social channels. Leo, MEXC Traditional Chinese Market Business Head, delivered a keynote presentation introducing IgniteX services and participated as a featured panelist during Demo Day. His engagement included sharing insights on blockchain innovation trends and facilitating discussions with finalist teams and industry experts about the future of decentralized technologies.

    Expanding Educational Partnerships in Taiwan

    This hackathon sponsorship builds upon MEXC’s broader commitment to Taiwan’s blockchain education ecosystem. MEXC has established collaborative partnerships with leading Taiwanese universities, including National Taipei University of Technology (NTUT), to foster fintech and blockchain education innovation. The company’s educational initiatives extend beyond traditional sponsorship to include direct industry mentorship and curriculum development support.

    Fostering Web3 Innovation and Strategic Vision

    “This hackathon represents IgniteX’s commitment to fostering blockchain innovation in Taiwan’s vibrant tech ecosystem,” said Leo, MEXC Traditional Chinese Market Business Head. “By supporting these talented developers and entrepreneurs, we’re helping build the foundation for the next generation of Web3 applications and services.”

    IgniteX’s educational investment reinforces its commitment to integrating blockchain education with hands-on development experience. The company provides participants with exposure to development tools, industry best practices, and direct feedback from experienced practitioners within the MEXC ecosystem.

    This sponsorship has sparked discussions about establishing regular blockchain innovation events in Taiwan and potentially creating ongoing partnership programs with academic institutions. MEXC’s investment in Taiwan’s blockchain community contributes to the region’s growing reputation as a blockchain-friendly jurisdiction with strong technical talent, supporting the company’s broader goals of expanding its presence in Asia while identifying and nurturing emerging blockchain talent.

    About MEXC IgniteX
    MEXC IgniteX is a comprehensive Web3 innovation platform providing cutting-edge services for blockchain developers, entrepreneurs, and enterprises. Through strategic partnerships and community engagement, MEXC IgniteX drives adoption and innovation across the global blockchain ecosystem.

    Risk Disclaimer:
    The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4bef5682-2ec8-44e8-94ac-0eb7fbd5eea3

    The MIL Network –

    June 25, 2025
  • MIL-OSI Africa: SCOPA probes RAF for maladministration 

    Source: South Africa News Agency

    SCOPA probes RAF for maladministration 

    The Standing Committee on Public Accounts (SCOPA) has resolved to launch a full committee inquiry into allegations of maladministration, financial mismanagement, wasteful and reckless expenditure, and related financial misconduct at the Road Accident Fund (RAF).

    SCOPA made this decision after months of repeated attempts by the committee to obtain truthful, complete information from the RAF Board and executive management to little avail.

    “The committee cannot perform its work effectively if state entities do not provide it with complete and truthful information, with adequate context and supporting information,” SCOPA said on Tuesday.

    Some of the issues of concern for the committee include but are not limited to:
    •    Failure to perform adequate background checks on senior management and executive appointments who nonetheless have access to and manage significant sums of public funds despite having a deeply concerning employment and disciplinary history involving allegations of reckless financial management decisions.
    •    Subsequent refusal by the RAF to disclose to the committee where such funds are kept and for what purpose.
    •    Failure to appoint critical officials such as a Chief Claims Officer, Head of Claims Operations, Head of Legal, Chief Corporate Support Officer, Head of People Management etc, for an unacceptably long time while decisions with a significant financial impact on the RAF are being taken, alternatively not being taken when they should.
    •    Apparent failures of governance with a direct impact on the rule of law, the authority and powers of Parliament as well as Chapter 9 institutions tasked with performing oversight on behalf of the South African people.
    •    Numerous whistleblower accounts relating to supply chain irregularities involving more than R1 billion while internal management controls appear to not be applied.

    “These allegations point to failure by the Board to properly oversee management’s decisions and actions in line with their statutory mandate.

    “The volume of complaints and related documentary disclosures to the committee about the RAF make it necessary to examine them thoroughly and make such recommendations as may be necessary to ensure that the institution does its work within legal and constitutional prescripts, and serves the public interest as intended. 

    “An inquiry will also give everyone involved or implicated the opportunity to state their case under oath and receive a fair hearing before the committee draws its conclusions,” SCOPA Chairperson Songezo Zibi said.

    The committee will approve terms of reference on 1 July 2025, and the inquiry will take place after the August recess. –SAnews.gov.za

    nosihle
    Wed, 06/25/2025 – 10:49

    MIL OSI Africa –

    June 25, 2025
  • MIL-OSI Africa: Gauteng government removes HODs who ‘failed lifestyle audits’

    Source: South Africa News Agency

    Gauteng government removes HODs who ‘failed lifestyle audits’

    In a crackdown against wrongdoing, the Gauteng Provincial Government has removed three provincial heads of department following their failure of lifestyle audits.

    This was announced by Gauteng Premier Panyaza Lesufi who briefed the media on Wednesday.

    Earlier this year, a report by the Special Investigating Unit revealed that at least 37% of senior officials in the provincial government had failed lifestyle audits.

    “In line with due processes, officials whose lifestyles were found to be inconsistent with the audits were given an opportunity to provide an explanation. In response to these findings, the provincial government, in collaboration with the SIU [Special Investigating Unit] which conducted the audits, have notified the affected employees and directed them to address and rectify the identified areas that the SIU was not happy with.

    “Over the weekend, I received the last reports from the SIU [and] I have now directed the HOD to engage with the relevant HODs so that they can conclude this process. Of the four outstanding reports of these HODs, three of them came back again as failed audit outcomes. 

    “On the basis of this, I’ve taken a decision to immediately remove these HODs from their positions. The DG will facilitate this process and make the public announcement on the changes of administrative head of department,” he said.

    The Premier explained that the move reaffirmed the “commitment to ensure that departments are led by people with impeccable credentials”. 

    Furthermore, the SIU is conducting lifestyle audits for all supply chain and finance officials in departments.

    “Given the scale of this exercise, the SIU will submit reports to departments starting with the Office of the Premier. Currently, investigators are collating outstanding documents, analysing them and compiling submitted information, conducting third party verification and finalising individual audit reports,” Lesufi said.

    Forensic investigations

    At the media briefing, the Premier also released some 47 forensic investigation reports conducted by institutions, including the SIU, the National Prosecuting Authority and the Public Protector.

    “These reports, from multiple departments, cover a range of investigations including alleged cases of abuse of state resources, irregular and unauthorised expenditure, theft, unfair labour practices, ghost employees, procurement irregularities, suspected fraud, Human Resource irregularities, assault and death threats and corruption, amongst others.

    “We are proud to release these reports to indicate our commitment that we will not tolerate any form of corruption. We have taken the recommendations to the MECs so that [they] implement the recommendations,” he said.

    Additionally, a committee in the Office of the Premier has been established to track the implementation of the recommendations from those reports. 

    “The Office of the Premier is tracking the implementation of these forensic investigation reports and recommendations…including financial recoveries, through quarterly reports submitted to the Premier and the Provincial Anti-Corruption Coordinating Committee. 

    “Additionally, the Office of the Premier is supporting the Gauteng provincial government departments to prioritise fund recovery with progress monitored by the Gauteng Audit Committee.

    “To strengthen recovery efforts, the office has already enhanced collaboration with the Asset Forfeiture Unit and the AFU has reaffirmed its readiness to support the Gauteng Provincial Government in asset recovery,” he said.

    For even greater accountability, the provincial government is teaming up with the SIU to facilitate fund recovery.

    “This includes utilising the Special Tribunal at the SIU established by the President…to expedite the recovery of state funds lost due to corruption or irregular expenditure,” he said. – SAnews.gov.za

    NeoB
    Wed, 06/25/2025 – 11:31

    MIL OSI Africa –

    June 25, 2025
  • MIL-OSI Asia-Pac: Cybersecurity Service Providers Connect Programme briefing webinar for service providers held today

    Source: Hong Kong Government special administrative region

    Cybersecurity Service Providers Connect Programme briefing webinar for service providers held today 
         The programme aims to strengthen the connection between cybersecurity service providers and local businesses and organisations, in particular small and medium-sized enterprises (SMEs), to assist in sourcing suitable cybersecurity solutions. After categorisation and vetting, the HKCERT will put the information of service providers meeting predefined requirements on a dedicated website to facilitate SMEs in sourcing and procuring suitable cybersecurity services. The related solutions mainly cover four service areas: Internet Security Solution, Cybersecurity Assessment Service, Managed Security and Incident Response Service, and Cybersecurity Training Service. Meanwhile, the programme also includes the provision of a cybersecurity resource hub, offering guidance on cybersecurity solutions and references for best practices in cybersecurity for SMEs.
     
         In addition to the programme, the DPO has also partnered with the Hong Kong Internet Registration Corporation Limited to launch the free and integrated security service “Cybersec One” in March 2025, helping participating organisations identify website vulnerabilities, conduct risk assessments, and provide solutions to empower local secondary schools and primary schools, non-governmental organisations and SMEs to strengthen their cybersecurity resilience in all dimensions. The DPO will continue to safeguard cybersecurity in Hong Kong through fostering industry collaboration and uniting diverse stakeholders, thus promoting the sustainable development of Hong Kong’s digital economy.
    Issued at HKT 17:55

    NNNN

    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 25, 2025
  • MIL-OSI Economics: AI and collaboration tools: how cyberattackers are targeting SMBs in 2025

    Source: Securelist – Kaspersky

    Headline: AI and collaboration tools: how cyberattackers are targeting SMBs in 2025

    Cyberattackers often view small and medium-sized businesses (SMBs) as easier targets, assuming their security measures are less robust than those of larger enterprises. In fact, attacks through contractors, also known as trusted relationship attacks, remain one of the top three methods used to breach corporate networks. With SMBs generally being less protected than large enterprises, this makes them especially attractive to both opportunistic cybercriminals and sophisticated threat actors.

    At the same time, AI-driven attacks are becoming increasingly common, making phishing and malware campaigns easier to prepare and quickly adapt, thus increasing their scale. Meanwhile, cybersecurity regulations are tightening, adding more compliance pressure on SMBs.

    Improving your security posture has never been more critical. Kaspersky highlights key attack vectors every SMB should be aware of to stay protected.

    How malware and potentially unwanted applications (PUAs) are disguised as popular services

    Kaspersky analysts have used data from the Kaspersky Security Network (KSN) to explore how frequently malicious and unwanted files and programs are disguised as legitimate applications commonly used by SMBs. The KSN is a system for processing anonymized cyberthreat-related data shared voluntarily by opted-in Kaspersky users. For this research, only data received from the users of Kaspersky solutions for SMBs were analyzed. The research focused on the following applications:

    • ChatGPT
    • Cisco AnyConnect
    • Google Drive
    • Google Meet
    • DeepSeek
    • Microsoft Excel
    • Microsoft Outlook
    • Microsoft PowerPoint
    • Microsoft Teams
    • Microsoft Word
    • Salesforce
    • Zoom

    Between January and April 2025 alone, nearly 8,500 SMB users encountered cyberattacks in which malware or PUAs were disguised as these popular tools.

    Among the detected threats, the highest number (1652) of unique malicious and potentially unwanted files mimicked Zoom, the widely used video conferencing platform. This accounted for nearly 41% of all unique files detected, a 14-percentage point increase compared to 2024. Microsoft Office applications remained frequent targets for impersonation: Outlook and PowerPoint each accounted for 16%, Excel for nearly 12%, while Word and Teams made up 9% and 5%, respectively.

    Share of unique files with names mimicking the nine most popular legitimate applications in 2024 and 2025 (download)

    A comparison of the threat landscape in 2024 and 2025 reveals a clear shift: with the growing popularity of AI services, cyberattackers are increasingly disguising malware as various AI tools. According to our analysis, the number of unique malicious files mimicking ChatGPT grew by 115%, reaching 177 in the first four months of 2025. This contributed to a three-percentage-point increase in the tool’s share among the most mimicked applications. DeepSeek, a large language model launched only in 2025, has immediately appeared on the list of impersonated tools.

    Another cybercriminal tactic to watch for in 2025 is the growing use of collaboration platform brands to trick users into downloading or launching malware and PUAs. As mentioned above, the share of threats disguised as Zoom increased by 14 percentage points, reaching 1652 unique files, while Microsoft Teams and Google Drive saw increases of over three and one percentage points, respectively, with 206 and 132 cases. This pattern likely reflects the normalization of remote work and geographically distributed teams, which has made these platforms integral to business operations across industries.

    Attackers are clearly leveraging the popularity and credibility of these services to increase the success rate of their campaigns.

    Malicious file names mimicking popular services 2024 2025 2025 vs 2024
    Zoom 26.24% 40.86% 14.62 p.p.
    Microsoft Teams 1.84% 5.10% 3.25 p.p.
    ChatGPT 1.47% 4.38% 2.9 p.p.
    DeepSeek 0 2.05% –
    Google Drive 2.11% 3.26% 1.15 p.p.

    The total number of unique malicious and unwanted files imitating legitimate applications slightly declined year-over-year, from 5,587 in 2024 to 4,043 in 2025.

    Main types of threats affecting the SMB Sector, 2025 (download)

    The top threats targeting SMBs in 2025 included downloaders, Trojans, and adware.

    Leading the list are downloaders, potentially unwanted applications designed to install additional content from the internet, often without clearly informing the user of what’s being downloaded. While not inherently malicious, these tools are frequently exploited by attackers to deliver harmful payloads to victims’ devices.

    Trojans ranked next. These are malicious programs that carry out unauthorized actions such as deleting, blocking, modifying, or copying data, or disrupting the normal operation of computers and networks. Trojans are among the most prevalent forms of malware, and cyberattackers continue to use them in a wide range of malicious campaigns.

    Adware also made the top three list. These programs are designed to display advertisements on infected computers or substitute a promotional website for the default search engine in a browser. Adware often comes bundled with freeware or shareware, effectively serving as the price for using the free software. In some cases, Trojans silently download and install adware onto the victim’s machine.

    Among other common types of threats were DangerousObject, Trojan-Dropper, Backdoor, Trojan-Downloader, HackTool, Trojan-PSW, and PSW-Tool. For instance, we recently identified a campaign involving a Trojan-Downloader called “TookPS“, which was distributed through fake websites imitating legitimate remote access and 3D modeling software.

    How scammers and phishers trick victims into giving up accounts and money

    We continue to observe a wide range of phishing campaigns and scams targeting SMBs. Attackers aim to steal login credentials for various services, from delivery platforms to banking systems, or manipulate victims into sending them money.

    To do this, cyberattackers use a variety of lures, often imitating landing pages from brands commonly used by SMBs. One example is a phishing attempt targeting Google business accounts. The bait lures victims with the promise of promoting their company on X. It requires them to first log in to a dedicated platform using their Google account with credentials that will end up in cyberattackers’ hands.

    Another fake landing page impersonated a bank that offered business loans: a “Global Trust Bank”. Since legitimate organizations with that name exist in multiple countries, this phishing attempt may have seemed believable. The attackers tried to lure users with favorable business loan terms – but only after victims submitted their online banking credentials, giving the criminals access to their accounts.

    We also saw a range of phishing emails targeting SMBs. In one recent case detected by our systems, the attacker sent a fake notification allegedly from DocuSign, an electronic document-signing service.

    SMBs can even find themselves targeted by classic Nigerian scams. In one recent example, the sender claimed to represent a wealthy client from Turkey who wanted to move $33 million abroad to allegedly avoid sanctions, and invited the recipient to handle the funds. In Nigerian scams, fraudsters typically cajole money. They may later request a relatively small payment to a manager or lawyer compared to the amount originally promised.

    Beyond these threats, SMBs are bombarded daily with hundreds of spam emails. Some promise attractive deals on email marketing or loans; others offer services like reputation management, content creation, or lead generation. In general, these offers are crafted to reflect the typical needs of small businesses. Not surprisingly, AI has also made its way into the spam folder – with offers to automate various business processes.

    We have also seen spammers offering dubious deals like purchasing a database of over 400,000 businesses for $100, supposedly to be used for selling the company’s B2B products, or manipulating reviews on a review platform.

    Security tips

    SMBs can reduce risks and ensure business continuity by investing in comprehensive cybersecurity solutions and increasing employee awareness. It is essential to implement robust measures such as spam filters, email authentication protocols, and strict verification procedures for financial transactions and the handling of sensitive information.

    Another key step toward cyber resilience is promoting awareness about the importance of comprehensive security procedures and ensuring they are regularly updated. Regular security training sessions, strong password practices, and multi-factor authentication can significantly reduce the risk of phishing and fraud.

    It is also worth noting that searching for software through search engines is an insecure practice, and should be prohibited in the organization. If you need to implement new tools or replace existing ones, make sure they are downloaded from official sources and installed on a centralized basis by your IT team.

    Cybersecurity Action Plan for SMBs

    1. Define access rules for corporate resources such as email accounts, shared folders, and online documents. Monitor and limit the number of individuals with access to critical company data. Keep access lists up to date and revoke access promptly when employees leave the company. Use cloud access security brokers to monitor and control employee activities within cloud services and enforce security policies.
    2. Regularly back up important data to ensure the preservation of corporate information in case of emergencies or cyberincidents.
    3. Establish clear guidelines for using external services and resources. Create well-defined procedures for coordinating specific tasks, such as implementing new software, with the IT department and other responsible managers. Develop short, easy-to-understand cybersecurity guidelines for employees, with a special focus on account and password management, email protection, and safe web browsing. A well-rounded training program will equip employees with the knowledge they need and the ability to apply it in practice.
    4. Implement specialized cybersecurity solutions that provide visibility and control over cloud services, such as Kaspersky Next.

    MIL OSI Economics –

    June 25, 2025
  • MIL-OSI Video: Nature: A $10 Trillion Opportunity

    Source: World Economic Forum (video statements)

    Nature: A $10 Trillion Opportunity

    As of 2025, 1 million species are threatened with extinction with a significant share of global habitats at risk. Yet nature-positive solutions could unlock $10 trillion in annual business opportunities by 2030, transforming nature action into a driver for long-term economic growth.

    How are financial institutions and other investors considering the potential of this economy and the best strategies to capture its value?

    https://www.youtube.com/watch?v=pb2EX2xKlDY

    MIL OSI Video –

    June 25, 2025
  • MIL-OSI United Kingdom: Side hustlers urged to get tax returns sorted now

    Source: United Kingdom – Executive Government Non-Ministerial Departments 2

    Press release

    Side hustlers urged to get tax returns sorted now

    HMRC is encouraging anyone with a side hustle to check if they need to complete a Self Assessment tax return for the 2024 to 2025 tax year.

    • If you earn more than £1,000 from additional income, you may need to register for Self Assessment.
    • Filing now means you will know your tax situation sooner and can spread payments over time.
    • HMRC’s digital services make filing quick and easy.

    Anyone earning extra income through a side hustle is being urged to check if they need to register for Self Assessment – and if so, file their tax return now.

    HM Revenue and Customs (HMRC) is encouraging those with additional income streams – from online selling and content creation to dog walking and property rental – to understand their tax obligations and get ahead of the January deadline rush.

    The £1,000 threshold is key: anyone who earns more than this from their side hustle in a tax year may need to register for Self Assessment and complete a tax return. This includes gains or income received from cryptoassets.

    Anyone who thinks they may need to complete a tax return for the 2024 to 2025 tax year can use the checker tool on GOV.UK to find out. New entrants to Self Assessment must register to receive their Unique Taxpayer Reference.

    Easy-to-use guides for side hustlers can be found at the  Tax Help for Hustles campaign page on GOV.UK.

    Myrtle Lloyd, HMRC’s Director General for Customer Services, said:

    Whether you are selling handmade crafts online, creating digital content, or renting out property, understanding your tax obligations is essential. If you earn more than £1,000 from these activities, you may need to complete a Self Assessment tax return.

    Filing early puts you in control – you will know exactly what you owe, can plan your payments, and avoid the stress of the January rush. You don’t need to pay immediately when you file – you have until 31 January to settle your tax bill.

    The deadline to submit a Self Assessment tax return online and pay any tax owed for the 2024 to 2025 tax year is 31 January 2026.

    Early preparation is particularly important for sole traders or landlords with a qualifying income over £50,000, as they will also need to get ready to start using Making Tax Digital (MTD) for Income Tax from April 2026. This will require digital record-keeping and quarterly updates using compatible software.

    Visit GOV.UK to find out more about Self Assessment and how to file a tax return.

    Further information

    A full list of who needs to complete a tax return and a wide range of help and support is available on GOV.UK.

    Those selling unwanted personal items (not trading) do not usually need to pay tax on this income.

    HMRC is urging customers who meet the MTD for Income Tax £50,000 threshold to sign up to a testing programme  on GOV.UK and start preparing now. Agents can also register their clients  via GOV.UK.

    Information on cryptoassets:

    • you need to make sure your tax return includes any gains or income received in relation to cryptoassets. 
    • Capital Gains Tax may be due if you sold or exchanged any cryptoassets. This includes selling cryptoassets for money, exchanging one type for another, using cryptoassets to make purchases, or gifting them away. 
    • Income Tax and National Insurance Contributions may also be due if you received cryptoassets from employment, or were involved in cryptoasset-related activities that generate income (for example, lending and staking). 
    • new for tax year 2024 to 2025: Dedicated sections are being introduced within the Self Assessment tax return for declaring cryptoassets separately from Capital Gains and Trusts and Estates. 
    • full guidance on cryptoasset taxation can be found on GOV.UK by searching for ‘tax when you sell cryptoassets’.

    According to insight commissioned by HMRC and published in 2023, one in 10 people in the UK are operating in the hidden economy with 65% of these individuals most likely operating side hustles and largely unaware that they should be registered for tax.

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    Updates to this page

    Published 25 June 2025

    MIL OSI United Kingdom –

    June 25, 2025
  • MIL-OSI Asia-Pac: LCQ5: Family offices

    Source: Hong Kong Government special administrative region

    LCQ5: Family offices 
    Question:
     
         According to a consultancy study commissioned by Invest Hong Kong (InvestHK), it was estimated that around 2 700 single family offices were operating in Hong Kong as at end-2023. However, it has recently been reported that quite a number of “fake family offices” have emerged in the market and some of them may even be involved in money laundering or illegal fund-raising activities. In this connection, will the Government inform this Council:
     
    (1) whether it will consider drawing up a clear official definition and establishing a regulatory regime for family offices, and stepping up regulation through legislation or administrative measures to prevent money laundering and other financial crimes; if so, of the specific details; if not, the reasons for that;
     
    (2) whether it has developed corresponding monitoring mechanisms or regulatory measures when considering enhancing the preferential tax regimes for family offices and funds, so as to prevent the relevant regimes from being abused as tax avoidance tools; if so, of the specific details; if not, the reasons for that; and
     
    (3) whether it has plans to provide more systematic training and accreditation schemes for professional talents to meet the demand from family offices for multi-disciplinary professionals, and whether it will regularly assess the effectiveness of the implementation of the policies relating to family offices, including market responses, economic contributions and potential risks; if so, of the specific details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         As an international financial centre and the freest economy in the world, Hong Kong maintains an open market environment. Meanwhile, we also attach great importance to safeguarding the integrity of our financial systems by implementing international standards on anti-money laundering and counter-terrorist financing to deter and detect inward and outward flows of illicit funds.
     
         In consultation with Invest Hong Kong (InvestHK), the Inland Revenue Department (IRD), the Securities and Futures Commission (SFC) and the Hong Kong Academy for Wealth Legacy (HKAWL), my reply to the various parts of the question is as follows:
     
    (1) The Government welcomes all lawful and rule-compliant family offices (FOs) to set up in Hong Kong and respects the private financial arrangement of single FOs. Regarding the regulation of investment activities of FOs, the licensing regime under the Securities and Futures Ordinance is activity-based. Generally speaking, a single FO refers to an arrangement established by members of a single family to manage the family’s assets, investments, and long-term interests. A single FO is required to apply for a licence under the Securities and Futures Ordinance if it carries on a business of regulated activity in Hong Kong, for example, providing asset and wealth management services to clients other than members of the relevant family, and to fulfil relevant code of conduct and statutory requirements applicable to licensed corporations. The above requirements are also applicable to investment companies or multi-FOs. To facilitate the industry’s understanding of the regulatory regime in Hong Kong, the SFC has issued circular on the licensing obligations of FOs and quick reference guides to provide additional guidance.
     
         In addition, professionals of various sectors providing services concerned to FOs will conduct necessary due diligence in compliance with the statutory requirements and relevant guidelines. Among others, the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) provides that financial institutions (including banks, SFC-licensed corporations, insurance companies, money services operators, etc.) and designated non-financial businesses and professions (including solicitors, accountants, estate agents, and trust or company service providers) shall conduct customer due diligence, including identifying and verifying the identity of beneficial owners, continuously monitoring the business relationships with customers, as well as maintaining records. When service providers identify any suspicious transactions, they are also under the legal obligation to report to law enforcement agencies.
     
         Our systems and measures for combating money laundering and terrorist financing have all along adhere to international standards and best practices. We will closely monitor the risks related to money laundering and terrorist financing, as well as the developments in international standards, and will keep our systems and measures under constant review so as to safeguard the integrity and stability of Hong Kong’s financial system.
     
    (2) Family-owned investment holding vehicles (FIHVs) managed by single FOs in Hong Kong fulfilling the minimum asset threshold of HK$240 million and substantial activities requirement can enjoy profits tax exemption for qualifying transactions. Currently, a series of anti-avoidance measures have been put in place for the preferential tax regimes for single FOs and funds. For example, a business undertaking for general commercial or industrial purpose is not eligible for tax concessions with a view to avoiding abuse. The tax regimes also contain the anti-round tripping provisions to prevent abuse or round-tripping by resident persons to take advantage of the profits tax exemption via a fund or FIHV. Meanwhile, the general anti-avoidance provisions of the Inland Revenue Ordinance (IRO) are also applicable to the preferential tax regimes for single FOs and funds. Through these provisions, the IRD can address any artificial or fictitious transaction, disposition that is not in fact given effect to and transaction entered into for the sole or dominant purpose of enabling a person to obtain a tax benefit.
     
         To attract more FOs and high-net-worth individuals to choose Hong Kong as a destination for wealth management, we will enhance the preferential tax regimes for funds, single FOs and carried interest, including expanding the scope of “fund” under the tax exemption regime, increasing the types of qualifying transactions eligible for tax concessions for funds and single FOs, enhancing the tax concession arrangement on the distribution of carried interest by private equity funds, etc.
     
         The Government also proposes to introduce a tax reporting mechanism under the enhanced tax regime for funds to ensure that the funds and special purpose entities meet the relevant tax exemption conditions under the IRO. The Government will continue to closely communicate with the industry on formulating the details of the tax reporting regime, and minimise the compliance burden on funds and special purpose entities under the tax reporting regime.
     
    (3) The Government is committed to expanding the talent pool for wealth management and FOs to support the long-term development of the industry. We have since 2016 implemented the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector to nurture more industry talents. To date, over 4 700 applications for reimbursement of professional training course fees have been approved, and the Programme has provided internship opportunities for over 920 tertiary students, supporting the industry to offer more professional training and learning opportunities, thereby enhancing the professional standards of practitioners. Besides, we have included “management professionals in asset and wealth management (WAM)” and “professionals in compliance in WAM” under the Talent List since 2018 and 2021 respectively, so as to facilitate high-quality talents in these professions to pursue development in Hong Kong.
     
         The Government has also established the HKAWL in 2023 to provide a platform for collaboration, networking, knowledge sharing and talent development, and to provide relevant training for asset owners, wealth inheritors and the FO sector. In 2024-25, the HKAWL organised, co-organised, and participated in over 20 events, enabling asset owners, wealth inheritors and FO practitioners to engage in discussions and exchanges. These events brought together over 3 100 participants.
     
         The Government will maintain close communication with FOs to understand their needs, evaluate the effectiveness of relevant policies and introduce enhancements in a timely manner. For example, the New Capital Investment Entrant Scheme (New CIES) has been well-received by the industry since its launch. As of end-May this year, the New CIES has received over 1 370 applications. The current applications are expected to bring an investment amount of over HK$41 billion into Hong Kong. The Government has also implemented enhancement measures with effect from March 1 this year, allowing investment under the New CIES to be made through an eligible private company wholly owned by the applicant, creating synergy with the tax concession regime for FOs.
     
         According to the research findings of the consultant commissioned by InvestHK and publicised in March 2024, there were around 2 700 single FOs operating in Hong Kong as of end-2023. The number is expected to exceed 3 000 in the near future. Separately, since its establishment in June 2021 up to end-May this year, the dedicated FamilyOfficeHK team of InvestHK has assisted over 190 FOs to set up or expand their business in Hong Kong, and around 150 FOs have indicated that they are preparing or have decided to set up or expand their business in Hong Kong. The performance indicator to attract no less than 200 FOs to establish or expand their operations in Hong Kong by end-2025 as set out in the 2022 Policy Address is likely to be achieved.
     
         Thank you, President.
    Issued at HKT 14:58

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 25, 2025
  • MIL-OSI Asia-Pac: LCQ10: Promoting the development of the popular artistic toy industry

    Source: Hong Kong Government special administrative region – 4

    Following is a question by the Hon Jeffrey Lam and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (June 25):
     
    Question:
     
    It has been reported that in recent years, the popular artistic toy industry and the “goods economy” (i.e. economic activities relating to intellectual property (IP) peripheral products of animation, comics, games, idols, etc) have expanded rapidly worldwide. Last year, the global market of “blind boxes” (i.e. sealed boxes whose IP peripheral products are not made known to consumers in advance) reached US$14.5 billion (approximately HK$113.1 billion), with some IP merchandise created by Hong Kong designers generating hundreds of millions of dollars in value in the international market. However, there are views that the popular artistic toy industrial chain in Hong Kong is not yet mature and requires precise policy support. In this connection, will the Government inform this Council:
     
    (1) whether it has compiled statistics for the period between 2022 and 2024 on (i) the number of companies registered in Hong Kong that were involved in the design, production or sale of popular artistic toys, (ii) the contribution of the popular artistic toy industry to Gross Domestic Product, (iii) the number of professional practitioners in the popular artistic toy industry, and (iv) among the projects approved under the Government’s funding schemes or funds for driving the development of the cultural and creative industries (e.g. the CreateSmart Initiative), the proportion of projects related to the popular artistic toy industry and the total amount of funding involved; if such data is unavailable, whether the Government will review if this emerging industry is outside the scope of the existing policy;
     
    (2) whether it has compiled statistics on the number of registrations filed with the Intellectual Property Department by local designers for artistic toy character designs from 2022 to 2024, and the number of cases in which Hong Kong enterprises have successfully turned local IP into mass-produced merchandise;
     
    (3) of the number of pop-up stores or exhibitions relating to the theme of popular artistic toys that were approved to be held in public venues (e.g. the West Kowloon Cultural District and galleries of the Leisure and Cultural Services Department) in the past year, and the average duration of such exhibitions;
     
    (4) among the events supported by the Mega Events Coordination Group last year, of the proportion of mega events that had the theme of popular artistic toys (e.g. designers’ autograph and sale sessions and blind box bazaars), as well as the data on the number of people who attended such events; and
     
    (5) as the Financial Secretary pointed out earlier on in a blog post that some IP with Hong Kong elements created by Hong Kong designers has generated hundreds of millions of dollars in value, and there are views that this reflects that the calibre of the local creative industry is of an international standard, whether the Government has formulated specific measures to assist in the development of the industrialisation of Hong Kong’s IP and to promote the maximisation of the value of local IP; if so, of the details; if not, the reasons for that?

    Reply:
     
    President,
     
    Art toy refers to toys designed by designers and artists, and infused with rich cultural connotations and fashionable creativity. It can be traced back to figures in the 1960s of the 20th century which were mostly derivative models of anime characters for the purposes of appreciation and collection. Noting the emergence and development of art toy in recent years which bring in opportunities for the creative industries in Hong Kong, the Cultural and Creative Industries Development Agency (CCIDA) under the Culture, Sports and Tourism Bureau (CSTB) has been actively supporting projects related to Hong Kong’s art toy industry, including setting up Hong Kong pavilions at exhibitions in the Mainland and overseas to support the industry in the promotion of art toys originated in Hong Kong.

    My reply to the various parts of the question raised by the Hon Jeffrey Lam’s question, in consultation with the Census and Statistics Department (C&SD) and the Intellectual Property Department (IPD), is as follows:
     
    (1) The cultural and creative industries (CCI) form an integral part of creating a diversified economy in Hong Kong. CCI covers the design sector whereas art toy design is grouped under this sector. According to the C&SD’s latest statistics, the value added by the design sector reached over $4.2 billion in 2023, accounting for over 0.1% of Gross Domestic Product in Hong Kong, and 3.1% of that of CCI. The number of establishments and practitioners engaged in the design sector were around 7 490 and 18 650 respectively.
     
    From 2022 till now, the CCIDA funded and fostered eight Hong Kong art toy-related projects through the CreateSmart Initiative (CSI). Overseas projects included driving the industry to participate in “Promote Hong Kong Designer Toys through Thailand Exhibitions”, “Promote Hong Kong Designer Toys through Thailand Toy Expo 2024”, “Promote Hong Kong Art Toys through Indonesia Exhibition 2024” and “Promote Hong Kong Art Toys through Thailand Toy Expo 2025”. These four projects facilitated over 20 business deals and more than 370 business enquiries and contacts, and ideal selling records were made for individual participating designers. For example, a Hong Kong art toy designer sold art toys of over $0.5 million and successfully reached out an Indonesian toy agent to expand his retail business in Indonesia. In the Mainland, the CSI funded the industry to participate in “Hong Kong Creative Pavilion@China (Shenzhen) International Cultural Industry Expo and Trade Fair plus Hong Kong@Shenzhen Cultural Industry Expo”, “Hong Kong Creative Pavilion@2024 Hangzhou Cultural & Creative Industry Expo”, “China International Cartoon & Animation Festival (Hangzhou)” and “China International Animation Copyright Fair (Dongguan)”. The CCIDA set up Hong Kong pavilions in these exhibitions to promote Hong Kong’s art toy, animation, game and related industries. These four Hong Kong pavilions attracted a total of over 160 000 participants, reaching out over 1 300 business deals and more than 120 business enquiries and contacts. The eight projects obtained about $38 million of the CSI funding.

    In fact, Hong Kong creators made great achievements in the global art toy industries in recent years. Their art toy characters designed and the products generated by their intellectual properties (IPs) successfully occupy a remarkable market share in markets of Hong Kong, the Mainland and overseas. Among them, Hong Kong renowned designers Lung Ka-sing and Kenny Wong created iconic art toy products, making great profits for the art toy industries. Lung also won an illustration award in Belgium, being the first Chinese designer to win this prize. Besides, Wong’s designs have collaborations with various international trendy brands for rolling out IP products.
     
    (2) According to the IPD, the Locarno classification published by the World Intellectual Property Organization is the system adopted for classifying articles under the local registered designs system. There is no specific class for “artistic toy characters”, which are instead classified under Class 21 (sub-class 01) – “games and toys”. The numbers of applications and registrations under this sub-class from 2022 to 2024 are as follows:
     

      2022 2023 2024
    Number of applications
    (Number of designs involved (Note 1))
    31
    (66)
    39
    (79)
    59
    (82)
    Number of registrations (Note 2) 78 76 41

    Note 1: Each design application may contain one or more designs.
    Note 2: Since it takes time to process applications, the number of registrations shown may not equal to the number of applications received in a particular year.
     
    Other than obtaining protection for the design of an article under the registered designs system, the same may also be considered as a sign for registration under the trade marks system, or as an original artistic work protected by the copyright system (registration not required). Rights holders need to consider their overall IP protection and utilisation strategy, as well as the relevant legal requirements.

    Over the years, there have been numerous examples of Hong Kong businesses transforming local cultural and creative IPs into mass-produced products. This may be done by various ways such as sales and licensing, and it also depends on the types of IPs being utilised. The Government does not have statistics in this regard.
     
    (3) and (4) Different types of mega events in Hong Kong cover various areas, among which many of the events with profound IP elements are well received by the public. Events in 2024 include “100% DORAEMON & FRIENDS” Tour, Pokémon GO City Safari, PANDA GO! FEST HK, ComplexCon Hong Kong, Hypefest Hong Kong, and the annual Ani-com & Games Hong Kong that gathers animation, comics and figurines, etc. The CSTB supported these activities in different ways. As an estimate, these events attracted over five millions of participants.
     
    In 2024, there were nine art toy-related projects exhibited in venues of the West Kowloon Cultural District and the Leisure and Cultural Services Department. Their average exhibition period was about 17 days. In addition, there were lots of activities relating to the theme of art toy held in different government and private venues (such as shopping malls).
     
    (5) The Government has been promoting the development of the trading and commercialisation of local IPs, including various measures related to CCI.
     
    In strengthening IP protection, the copyright system is an essential component of the IP regime, offering protection for original works including those in the literary and artistic fields, and is crucial to the development of the local creative industries and a knowledge-based economy. The Copyright (Amendment) Ordinance 2022 came into effect in May 2023 to enhance copyright protection in the digital environment. The IPD is also conducting a comprehensive review of the local registered design system and plans to launch a public consultation within this year to ensure that the system remains up-to-date, aligns with current international standards, and meets the needs of Hong Kong’s future economic development. Besides, the CCIDA is actively supporting cultural IP projects (including those related to art toy mentioned above) through the CSI, and driving applicants to make applications for IP protection for their cultural and creative products, formulate IP agreements and manage IP portfolios, etc. so as to assist creators in exploring business opportunities.

    In enhancing capacity building, the IPD has in recent years provided more comprehensive and in-depth IP training courses and practical workshops for practitioners across various sectors, including those in the cultural and creative industries, with a target to benefit 5 000 practitioners across different industries within the current term of the Government. Besides, in collaboration with the Law Society of Hong Kong, the IPD has been providing free IP consultation services for small and medium enterprises through practising lawyers on a pro bono basis.

    On promotion effort, the Hong Kong Trade Development Council (HKTDC) continues to enrich large-scale activities such as the Hong Kong International Film and TV Market, the Hong Kong International Licensing Show and the Hong Kong Book Fair in order to support local original works to exploit the Mainland and international markets. The CCIDA has also funded the HKTDC to enhance the Asia IP Exchange portal, adding a database for arts, cultural and creative IPs to facilitate potential buyers in searching for relevant information, and introducing more elements of market transaction, such as business matching events, market information and professional service packages on IP trading to foster cross-sectoral collaboration. The CCIDA will facilitate more registration of local and non-local cultural and creative products on the Asia IP Exchange portal to promote the transactions of cultural IPs. 

    MIL OSI Asia Pacific News –

    June 25, 2025
  • MIL-OSI Asia-Pac: LCQ14: Public toilet projects in Hong Kong

    Source: Hong Kong Government special administrative region

    LCQ14: Public toilet projects in Hong Kong 
    Question:
     
         It has been learnt that, in recent years, the Government has been actively promoting construction of public toilets (including refurbishment or facelifting) projects in Hong Kong, with the aim of improving the quality of public sanitary facilities. According to the information provided by the Government in reply to a question raised by a Member of this Council on the Estimates of Expenditure for the financial year 2025-2026, the Enhanced Public Toilet Refurbishment Programme for that financial year covers 110 public toilets and involves a total project estimate of about $460 million. According to the Government’s paper submitted to the Panel on Development of this Council regarding funding for the Capital Works Reserve Fund for 2025-2026, the total budget for the four public toilet projects in Lei Yue Mun (Ling Nam Sun Tsuen) in Kwun Tong, Ha Ma Tseuk Leng in North District, Ha Tsuen Shi Vegetable Market Office in Yuen Long, and Fraser Village in Yuen Long, is as high as about $87 million. In particular, the reprovisioning of Lei Yue Mun (Ling Nam San Tsuen) public toilet in Kwun Tong has been budgeted at about $38 million. In this connection, will the Government inform this Council:
     
    (1) of the reasons why the project estimates of the above four public toilets are higher than those of public toilets in general;
     
    (2) of the overall planning for public toilet projects in Hong Kong; the factors considered by the authorities when deciding to commence the public toilet projects (including the requirements for male-to-female toilet compartment ratio, site selection criteria, pedestrian flow density and district distribution ratios);
     
    (3) it has been learnt that at the end of 2023, the proportion of female population in Hong Kong is about 54.5 per cent, which is nine per cent higher than the male population, but the existing supply of female toilets often falls short of demand, resulting in females often having to wait for a long time for their turn to use them, whether the authorities will consider adjusting the male-to-female toilet compartment ratio and increasing the number of female toilet compartments in planning for public toilet projects; if so, of the details; if not, the reasons for that;
     
    (4) whether the authorities have compiled statistics and assessed the demand for the use of public toilets, the actual utilisation rates and the public satisfaction levels, etc, at various tourist attractions and border control points; if it has compiled such statistics, of the details;
     
    (5) of the distribution of the proportions of the various expenditures (e.g. design, salaries of works personnel and construction costs) in the project estimates for all public toilet projects in Hong Kong at present; and
     
    (6) whether the authorities have a dedicated department responsible for monitoring and managing the progress of public toilet projects, as well as providing temporary public toilet services while the works are in progress; if so, whether they will announce the details of the progress of the relevant works in a timely manner?
     
    Reply:
     
    President,
     
         Government departments including the Food and Environmental Hygiene Department (FEHD), the Leisure and Cultural Services Department (LCSD), the Agriculture, Fisheries and Conservation Department (AFCD) and the Home Affairs Department, respectively plan and manage toilets facilities provided for public use (public toilet) under their purview. The Architectural Services Department (ArchSD) carries out the design, construction and refurbishment of public toilets in accordance with the public service standards for public toilets as specified by the client departments.
     
         Having consulted the Development Bureau (DEVB), the Culture, Sports and Tourism Bureau, the Home and Youth Affairs Bureau and the Security Bureau, our reply to the question raised by the Hon Maggie Chan is as follows:
     
    (1) When the ArchSD designs and constructs new public toilets, as well as reprovisions and refurbishes existing public toilets, it will devise project details by taking into account factors including relevant departments’ requirements, design standards of existing public toilets, conditions of facilities, utilisation rates, legal requirements, sewage facilities and provision of barrier-free facilities; and ensures the project complies with the “no-frills” principle. In compiling the project estimates, the ArchSD will make reference to the costs of projects of similar scale in the past and the prevailing returned tender prices; with provisions for consultants’ fees and contingencies.
     
         Regarding the four public toilet works project mentioned in the question, the ArchSD stated that the construction floor area of the Reprovisioning of Lei Yue Mun (Ling Nam Sun Tsuen) Public Toilet is the largest among projects on public toilets in recent years. Besides, given that public toilet is highly utilised and locates at a tourist spot, the design of the reprovisioning works focused on enhancing the quality of the facilities and the user experience of the tourists, including the provision of additional universal toilets, the adoption of a people-oriented design with the provision of more spacious interior than other common public toilets, and the implementation of smart toilet system to enhance hygiene and management. In addition, the congested underground pipelines and high groundwater level in the vicinity have made the construction much more complex and hence increased the costs. The ArchSD has adopted a number of design enhancement and works solutions to minimise construction costs and risks as far as practicable, such as relocating the underground equipment to above ground to reduce the extent of excavation.
     
         As for the proposed Improvement to Ha Ma Tseuk Leng Public Toilet in North District, Improvement to Ha Tsuen Shi Vegetable Market Office Public Toilet in Yuen Long and Improvement to Fraser Village Public Toilet in Yuen Long, given they are located in rural areas with no public drainage system in the proximity and lack of proper roads for delivery of construction materials, the project costs are expected to be higher. The ArchSD is still reviewing the estimates of these three proposed projects, and will evaluate their cost effectiveness, endeavours to seek feasible options to lower construction cost.
     
    (2) When planning for the provision of public toilets, the Government will consider various factors, including the number of existing nearby public toilets (including public toilets managed by government departments and public toilet facilities in private premises like shopping arcades), utilisation rates, land requirements, feasibility (for example water and electricity supply, and sewage treatment, etc), as well as the opinions and requests of nearby residents, local community and District Councils.
     
    (3) Building (Standards of Sanitary Fitments, Plumbing, Drainage Works and Latrines) Regulations (Cap. 123I) provides for the statutory standard for ratio of male to female (1:1.5) in the provision of sanitary fitments in newly introduced public places (for example sports stadia, shopping arcades and department stores) in private buildings.
     
         As for public toilets managed by government departments, relevant departments will consider actual conditions of individual public toilets, including the location and size of the public toilet, as well as users’ needs and stakeholders’ views, and increases the female ratio of sanitary fitments when needed.
     
    (4) Public toilets at tourists attractions and boundary control points (BCPs) are individually or jointly managed by different government departments (including the FEHD, the LCSD, the AFCD, the Government Property Agency, and departments relevant to the BCPs), or delegated third parties (for example the MTR Corporation Limited). Government departments respectively monitors the usage of public toilets under their management, and will suitably follow up as necessary, including adjusting the inspection and cleaning frequencies. Departments have not maintained relevant statistics.
     
    (5) The DEVB stated that the scope of works, site location, site constraints and construction methods vary for each public toilet improvement, refurbishment, enhancement or reprovisioning project. The design and construction of each project will be appropriately adjusted to suit its unique characteristics. As such, construction cost and proportion of expenses such as labour, machinery, materials and consultancy fees, vary. The ArchSD generally will reserve approximately 10 per cent of the cost in the budget of each project as contingency, so to address needs for unforeseen adjustments.
     
    (6) When the ArchSD constructs, refurbishes or enhances public toilets for government departments, it carries out regular inspections, manages the progress of projects, and also provides temporary toilet facilities for public toilets affected by the construction works having considered relevant departments’ requirements.
    Issued at HKT 12:45

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 25, 2025
  • MIL-OSI Asia-Pac: HKMCA launches “Panda Mode ON!” public education campaign

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Monetary Authority:

         HKMC Annuity Limited (HKMCA), a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited, announced today (June 25) the launch of a six-month “Panda Mode ON!” public education campaign, which uses the joyful, worry-free lifestyle of pandas as a metaphor to showcase retirement financial planning concepts and encourage retirees to achieve a stable and prosperous “Panda Mode” retirement through the creation of a lifelong income stream.
     
    The HKMCA is launching a series of promotional activities including television commercials, outdoor, online and social media advertising across multi-media channels starting this month. Public education and outreach activities will also be held across Hong Kong, including a booth at the “10th Golden Age Expo and Summit 2025”, five “Well-Planned for Life. Stable for Life” roving exhibitions at the Ocean Park Hong Kong and major shopping malls in various districts, together with a promotional truck and information panels, to help promote the importance of retirement financial planning. For details of the outreach activities, please refer to the annex.
      
    To reinforce public understanding of the HKMC Annuity Plan (Plan) and longevity risk management, the HKMCA is also expanding the “Mr. Well-Planned” series. In addition to utilising relatable day-to-day scenarios to highlight the key features of the Plan through television commercials, a new “Answer with One Click” webpage (www.hkmca.hk/eng/QnA) has been launched to provide the public with a convenient way to access answers to frequently asked questions.
     
    For more information, please visit the HKMCA website (www.hkmca.hk) or the Facebook page (www.facebook.com/HKMCAnnuity). For enquiries, please call the HKMCA customer service hotline at (852) 2512 5000.

    MIL OSI Asia Pacific News –

    June 25, 2025
  • MIL-OSI Asia-Pac: Mainland-Hong Kong Green Energy Matchmaking Event promotes development of green maritime fuel supply chain

    Source: Hong Kong Government special administrative region

         The Mainland-Hong Kong Green Energy Matchmaking Event organised by the Trade Development Bureau of the Ministry of Commerce of the People’s Republic of China and co-organised by the Transport and Logistics Bureau (TLB) and the Department of Commerce of Guangdong Province was held today (June 25) simultaneously in Hong Kong and Shenzhen. The Event aims to provide a collaborative platform for relevant suppliers and companies with demand to catalyse a comprehensive green maritime fuel supply chain and trade.
     
         The Event is supported by the Department of Foreign Trade of the Ministry of Commerce, the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People’s Government (LOCPG) in the Hong Kong Special Administrative Region (HKSAR), as well as a number of relevant organisations, associations and enterprises from Hong Kong and the Mainland. More than 200 representatives from various enterprises, including those from Hong Kong companies with demand for green maritime fuels and relevant fuel suppliers from the Mainland, gathered in the two venues to exchange views and discuss collaborations in relation to fuel off-take and to sign relevant Memoranda of Understanding (MOUs).
     
         The Secretary for Transport and Logistics, Ms Mable Chan, said at the Hong Kong venue, “Hong Kong and the Mainland share the same roots and are closely connected, with strong complementarity in the development of green maritime fuels. The Mainland’s core strength lies in the production of green fuels, while Hong Kong, as the southern gate of Mainland China and an international financial, trading and maritime centre, is not only home to a large number of international shipping enterprises, but also enjoys advantages such as free flow of capital, a financial and legal system that is in line with the rest of the world, and a trade settlement mechanism that allows immediate payment settlements. In addition, Hong Kong is the top bunkering centre in the Guangdong-Hong Kong-Macao Greater Bay Area, the second largest in the whole of China and ranks seventh globally. By adopting the ‘north-to-south sales’ model, under which the high-quality green maritime fuels produced on the Mainland can be exported to the world through Hong Kong’s international trading gateway, we will open up new ‘blue ocean’ opportunities for enterprises from the two places.
     
         “Today’s Event demonstrates the impactful materialisation of the target of the Action Plan on Green Maritime Fuel Bunkering promulgated by the HKSAR Government in November last year. We will develop Hong Kong into the preferred green maritime fuel bunkering and trading centre in the region. We have clearly set out in the Action Plan that we will establish a collaborative platform and provide facilitation measures for stakeholders engaged in green maritime fuel bunkering and related businesses, to help establish an efficient supply chain and trading channels. Today’s first-of-a-kind Event provides a high-quality and efficient networking platform for the supply and demand sides of green maritime fuels, to help Hong Kong and the Mainland to jointly build a green maritime fuel supply chain.”
     
         The signing of nine MOUs by various parties was witnessed by Ms Chan and representatives of relevant enterprises at the Hong Kong venue, and the Deputy Director-General of the Department of Foreign Trade of the Ministry of Commerce, Mr Chang Hui; Deputy Director-General of the Trade Development Bureau of the Ministry of Commerce Mr Zeng Huacheng; the Deputy Director-General of the Economic Affairs Department and Head of the Commercial Office of the LOCPG in the HKSAR, Mr Zhou Qiang; Deputy Director-General of the Department of Commerce of Guangdong Province Mr Sun Bin; member of the Legislative Council Mr Frankie Yick; the Commissioner for Maritime and Port Development, Miss Amy Chan, and representatives of various attending enterprises at the Shenzhen venue. Among them, the TLB signed MOUs with the China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters, a representative industry organisation; Chimbusco Pan Nation Petro-Chemical Co Ltd, a bunkering service provider; CIMC Enric Holdings Limited and the Hong Kong and China Gas Company Limited, green methanol producers, to collaborate on promoting the development of green maritime fuel-related businesses and establishing a market for the trade of green maritime fuels, etc, with a view to integrating the needs of Hong Kong with the capabilities of industry, and further promoting the development of Hong Kong into a green maritime fuel bunkering and trading centre, thereby achieving mutually beneficial co-operation. In addition, the Hong Kong and China Gas Company Limited and the Pacific Basin Shipping Limited signed an MOU at the Hong Kong venue on their preliminary intent for business collaboration on green maritime fuels, which is a solid step forward for the development of a green maritime fuel trading centre in Hong Kong.
     
         In addition, Miss Chan briefed representatives of the attending enterprises on the direction and latest progress of the development of green maritime fuel bunkering and trading in Hong Kong at the Shenzhen venue, including announcing that the Marine Department will gazette the Code of Practice for Methanol Bunkering within this month, and launch the Green Maritime Fuel Bunkering Incentive Scheme which will offer incentives of up to $1 million per enterprise to pioneer enterprises that provide and engage in green maritime fuel bunkering in Hong Kong, for bunkering operations for specific fuels in Hong Kong.

    MIL OSI Asia Pacific News –

    June 25, 2025
  • MIL-OSI Asia-Pac: Third application announced under New Industrialisation Acceleration Scheme supported by Vetting Committee and enhancement measure launched for New Industrialisation Funding Scheme

    Source: Hong Kong Government special administrative region

    Third application announced under New Industrialisation Acceleration Scheme supported by Vetting Committee and enhancement measure launched for New Industrialisation Funding Scheme 
    At the same time, to further support enterprises in adopting smart manufacturing and to seize market opportunities, the ITC has introduced an enhancement to the New Industrialisation Funding Scheme (NIFS). For NIFS applications seeking funding support of no more than $2.8 million, they will be processed according to the newly established streamlined procedures to speed up the process of approving NIFS applications.
     
    The Secretary for Innovation, Technology and Industry, Professor Sun Dong, said, “The Government actively promotes the development of new industrialisation through the NIAS and the NIFS, injecting new impetus into Hong Kong’s economy. We are pleased that enterprises are making use of the funding support from these two schemes to set up new smart production facilities in Hong Kong. Funded enterprises will bring to Hong Kong the relevant technologies and expertise of product manufacturing, driving the development of Hong Kong’s new industrialisation and diversified economy.”
     
    The Government launched the NIAS in September 2024. The NIAS provides funding support on a 1 (Government): 2 (enterprise) matching basis for enterprises engaging in industries of strategic importance (i.e. life and health technology, AI and data science, advanced manufacturing and new energy technologies) and contributing no less than $200 million to setting up new smart production facilities in Hong Kong. For each project, the minimum total project cost is $300 million. Each enterprise can receive up to $200 million of funding under the NIAS. In addition, the Government encourages enterprises with approved projects under the NIAS to carry out research or increase their scale of research in Hong Kong by providing additional funding for them to engage research talent, as well as facilitating such enterprises in employing non-local talent required for setting up or operating the new production facilities in Hong Kong.
     
    The NIFS aims to subsidise manufacturers on a 1 (Government): 2 (enterprise) matching basis to set up new smart production lines in Hong Kong. The funding ceiling for each project is one-third of the total project cost or $15 million, whichever is lower. Each enterprise can carry out up to three projects concurrently to receive a maximum total funding of up to $45 million under the NIFS.
     
    The NIAS and the NIFS are open for applications throughout the year. Details are available on the website of the Innovation and Technology Fund (www.itf.gov.hkIssued at HKT 11:30

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    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 25, 2025
  • MIL-OSI Asia-Pac: LCQ22: Technology Voucher Programme

    Source: Hong Kong Government special administrative region

    LCQ22: Technology Voucher Programme 
    Question:
     
         The Innovation and Technology Commission (ITC) launched the Technology Voucher Programme (TVP) in 2016 to subsidise enterprises in using technological services on a matching basis to enhance their productivity. It has been reported that since the launch of TVP, a total of nearly 35 000 projects involving a total of over $6.2 billion of public funding have been approved. However, suspected abuse cases have been found in a number of projects, including: (i) individuals with the same name registering with different companies and repeatedly applying for subsidies for the research and development of the same projects, (ii) nearly 2 000 projects and over 1 000 projects being approved with the same funding amount (accurate to one decimal place and some economists have described the figures as rather “statistically odd”), (iii) some applicant companies are suspected of having no actual operational activity or having already closed down, and (iv) there are doubts about the time taken to complete the development of the approved projects (e.g. $180,000 was granted to a company that updated its website and developed its mobile phone application in a speedy manner within two days; there was also a case in which a company developed an “Intelligent Anatomical Model Measurement System” in 27 days and was granted $480,000), etc. This has aroused suspicion that there are loopholes in the monitoring of TVP. In this connection, will the Government inform this Council:
     
    (1) whether the authorities have conducted random checks for subsidised projects granted under TVP in the past three years; if so, of the number and content of the random checks conducted and, among them, the respective numbers of applications suspected and confirmed to be abusive; if not, whether it will expeditiously activate the investigations in the light of the aforesaid media reports;
     
    (2) in respect of each application involving abuse of public subsidies or even fraud under TVP, of the follow-up actions actually taken by the authorities and the respective amounts of subsidies successfully and unsuccessfully recovered in such cases;
     
    (3) as the aforesaid reports have pointed out that some companies funded under TVP closed down shortly after receiving grants, of the measures put in place by the authorities to eradicate this situation; whether enterprises receiving approved grants will be required to regularly submit data on the use of technology projects/systems for monitoring purposes; and
     
    (4) whether the authorities will conduct a comprehensive review of TVP’s effectiveness since its implementation; if so, of the details; if not, the reasons for that; whether they have assessed the actual increase in productivity, competitiveness and entrepreneurial return achieved by enterprises that applied for subsidies after upgrading their technological level?
     
    Reply:
     
    President,
     
         In response to the Hon Paul Tse’s question, our consolidated reply is as follows:
     
         The Government ceased accepting new applications for the Technology Voucher Programme (TVP) after December 31, 2024. To ensure proper use of public funds, the Hong Kong Productivity Council as the TVP Secretariat (the Secretariat) has been rigorously reviewing the applications, final project reports and supplementary information submitted by the applicants, and conducting random on-site checks on individual projects in order to ensure that the applications are eligible for funding and that the project deliverables conform to relevant requirements. When submitting TVP applications, every applicant must provide documentary evidence proving its substantive business operations in Hong Kong. Relevant documents include information on business operations, financial operations and employment. If any suspicious cases are identified, Innovation and Technology Commission will immediately withhold processing the relevant cases, cease disbursing any payments, and refer them to law enforcement agencies for follow-up. 
     
         After rigorous review by the Secretariat, each eligible TVP application will be assessed based on individual merits and considered on a case-by-case basis. According to the TVP Guidance Notes, the TVP Committee/the Secretariat will assess whether the project budget is reasonable by making reference to market prices of the technologies as known to them. If a project is worthy of support in principle but the project budget is higher than the estimated price, the Secretariat will, on a modular basis, adjust the level of funding with reference to the project cost approved by the TVP Committee. Therefore, projects/technological solutions of similar nature and scale (e.g. Enterprise Resource Planning System) will have the same approved amounts after the aforementioned adjustments. In addition, since the amount of funding is calculated on the basis of the funding ratio, there may be odd cents after the calculation.
     
         TVP has established rigorous checking mechanism to verify whether the approved projects are implemented. Applicants are required to implement the project in accordance with the approved application and funding agreement, and submit a final project report to the Secretariat upon completion of the project, together with evidence of deliverables (such as hardware photos and system screen captures), copy of invoice(s) and corresponding receipt(s) in relation to the payment for each expenditure item, an audited statement of income and expenditure for the project from an independent auditor (if the approved funding exceeds HK$50,000)/a final income and expenditure statement prepared by the applicant (if the approved funding is HK$50,000 or below). The Secretariat will also conduct random on-site checks on individual projects, requiring applicants to demonstrate the developed technological solutions on the spot so as to verify whether they comply with the requirements of the approved application and the TVP. Taking the cases with “progress issues” mentioned by media report and quoted in the question as an example, the final reports failed to pass the Secretariat’s assessment and no funding was disbursed.
     
         According to the TVP funding agreement, applicants are required to keep the relevant hardware and software for at least one year after project completion, and keep a proper and separate set of books and records for the project for seven years after project completion for checking. The Secretariat will conduct random checks on applicants to see if they comply with the relevant requirements.  
     
         In the past three years, the Secretariat has conducted random on-site checks on 1 860 projects and referred 15 suspicious cases to law enforcement agencies for follow-up. The Secretariat will recover the funding from applicants convicted in the cases. As the investigations/judicial proceedings by the law enforcement agencies are still ongoing, we have no record of funding recovery for the time being.
     
         To assess the effectiveness of the TVP on the funded enterprises/organisations, we require enterprises/organisations to submit evaluation reports six months after project completion on whether the project could achieve the objectives of improving productivity, or upgrading or transforming their business processes. As at end-2024, 8 587 of the funded enterprises/organisations with completed projects had submitted evaluation reports to the Secretariat. Ninety-nine per cent of them were of the view that the projects were conducive to enhancing their competitiveness. Specific benefits include saving manpower, time and/or cost, increasing revenue, and upgrading/transforming/streamlining business processes.
     
         The Government conducted a fundamental review on the TVP in 2024 and considered that the programme has achieved its original intent. In recent years, the Government has continued to strengthen support measures for different industries, and many bureaux and departments have introduced more targeted funding schemes dedicated to the specific conditions or operational needs of individual industries. It was therefore decided that TVP would cease accepting new applications after December 31, 2024.
     
    The Secretariat will continue to review and enhance the vetting procedures of TVP so as to process the outstanding cases. In view of the large number of applications received before the deadline on December 31, 2024, the Secretariat has adopted a stringent vetting approach, requiring applicants to provide documents to prove that they have substantive business operations, the procurement procedures meet the requirements, and the budget and other details of the proposed technological solutions are reasonable and realistic. The Secretariat will continue to rigorously review the documents submitted by applicants for each application to ensure proper use of public funds.
    Issued at HKT 11:30

    NNNN

    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    June 25, 2025
  • MIL-OSI United Kingdom: Sharing life’s ups and downs as a family

    Source: City of Coventry

    This week we are marking Shared Lives – a scheme that recruits and approves Carers from all backgrounds and introduces and matches them with individuals assessed as having a social care need.

    A Shared Lives celebration event was held recently, bringing carers and families together to share stories and friendships.

    Karyn Ross, who manages the Councils Shared Lives scheme, said: “I’ve worked for Shared Lives for a long time now and it’s just a lovely scheme and a natural way for someone to move from one family setting to another.

    “It’s important that our families can all get together.”

    An afternoon tea was organised, and the families had a great time enjoying a special time together.

    Cllr Linda Bigham, Cabinet Member for Adult Services, said: “It was a fabulous event and great to see how people share everything together – dreams, ambitions and the happy and sad moments in life. We are very lucky in Coventry that we have so many people who are willing to share their lives and care for one another. We are really blessed.”

    Shared lives introduces and matching individuals who are assessed as having social care needs with Approved Shared Lives Carers who invite individuals into their family homes to share their lives.

    The Council’s Scheme covers Coventry and Warwickshire and is registered with the Care Quality Commission (CQC). The Scheme is always recruiting new carers who are offered a full training programme and support during the assessment and approval. Once carers are approved, we match referrals ensuring the Carers skills, abilities and lifestyle will complement the support of an individual placed. Our Carers open their homes and lifestyle to support individuals needing extra support to live fulfilling lives in the heart of their communities. They receive a financial package as part of the scheme.

    For more details call 024 7678 5339 or visit coventry.gov.uk/sharedlives

    Shared Lives Carer, Lucy was one of those at the celebrations. Lucy first provided respite care for Katie and now provides long term care.

    She said: “I want to be the best support that I can – and Katie has supported me in my journey of supporting her.”

    Lucy said: “Katie showed me the support she needed. She was the one guiding me.” 

    Katie added: “Together we make a great team”

    To ensure the placement was right, Katie had many visits to Lucy’s home before Katie wanted to move in long term.

    Katie has a visual impairment and is someone who relies on people’s voices and always thought Lucy’s voice was very kind.

    Katie’s Mum Sue, said: “I am so happy for Katie’s future, it gives me peace of mind, that Katie now has someone who will care for her as I do.” 

    Katie also added: “Mum can now spend time on herself, I like to know that.”

    Everyone at the event wore an ‘I love shared lives’ sticker, which tells you everything about the project.

    Hear from Lucy and Katie by watching the video below.

    MIL OSI United Kingdom –

    June 25, 2025
  • MIL-OSI New Zealand: GLOBAL: Countries must act fast to save the Sustainable Development Goals – Amnesty International

     Source: Amnesty International

    With countries in danger of failing to meet their Sustainable Development Goals targets – and their human rights obligations – leaders attending the Financing for Development Conference must act fast to avert climate catastrophe and guarantee the human rights of billions of people currently being denied socio-economic justice, said Amnesty International.

    The 4th International Conference for Financing for Development will take place from 30 June to 3 July in Seville, Spain. It provides a unique opportunity to reform development financing at all levels and address financing challenges preventing the urgently needed investment push to achieve the Sustainable Development Goals (SDGs) by 2030. The SDGs were put in place 10 years ago to guarantee peace and prosperity for people and the planet, now and in the future.

    “Years of underinvestment by all states mean the majority of the Sustainable Development Goals are way off track from their 2030 target. This conference must confront the immediate crisis linked to the cutting of international assistance by major donors, whilst committing to structural reforms that could provide sustainable sources of financing for the longer term – from advancing international tax cooperation and addressing the debt crisis, to reforming international financial institutions and promoting more inclusive systems of financing and development,” said Riva Jalipa, Amnesty International’s Financing for Rights Lead Adviser.

    “A series of robust measures must be put in place if the SDGs are to become a reality. The US and other governments must reverse cuts to aid budgets. Wealthy states must support the UN tax treaty process whilst providing debt relief for countries in or at risk of debt distress including cancellation where appropriate. Fossil fuels subsidies must be redirected towards investment in clean energy and leaders must commit to a full, fast, fair and funded fossil fuel phase out across all sectors and invest adequately in a just and equitable transition. Adopting these measures will go a long way to rescuing the SDGs and ensure social, economic and climate justice for millions across the world.”

    Amnesty International will also be co-hosting a Virtual Side Event at the Financing for Development Conference, Seville: Reparative Justice in Financing for Development. The session will focus on development financing and reparative justice as a means through which a human rights-based economy which redresses both existing and historical injustices can not only be conceptualized but also practically actioned. Register to attend via Zoom.  

    Background

    The Sustainable Development Goals (SDGs) were put in place 10 years ago to guarantee peace and prosperity for people and the planet, now and in the future. The 17 goals aimed to address global challenges, including poverty, inequality, climate change, environmental degradation, peace, and justice – to ensure no one was left behind. However, years of underinvestment by all states mean over 80% of the Sustainable Development Goals (SDGs)’ targets are off track due to underinvestment by all states.

    MIL OSI New Zealand News –

    June 25, 2025
  • MIL-OSI: Toobit Launches DEX+, On-Chain Trading Now Available on Spot Accounts

    Source: GlobeNewswire (MIL-OSI)

    GEORGE TOWN, Cayman Islands, June 25, 2025 (GLOBE NEWSWIRE) — Toobit, the award-winning global cryptocurrency exchange, today introduces DEX+, a powerful new feature that simplifies on-chain trading. This allows users to access and trade a wide array of early-stage, trending, and high-potential on-chain assets directly from their Toobit Spot account.

    Despite DeFi’s explosive growth to over $90 billion in TVL this year and thousands of monthly token launches, widespread adoption is deterred by complex wallets, costly gas fees, and persistent security concerns, which have resulted in billions in financial losses.

    DEX+ removes these barriers, letting users trade on-chain assets, from governance tokens to meme coins, directly from their Spot accounts with no wallets, keys, or gas required.

    “DeFi is where true innovation happens, and with DEX+, we’re ensuring everyone can participate in that future,” said Mike Williams, Chief Communication Officer at Toobit. “We’ve made accessing decentralized opportunities as intuitive as any spot trade, giving our users the confidence to explore cutting-edge assets within their familiar Toobit account.”

    Key advantages of DEX+

    • Seamless account integration: Existing USDT funds within a Toobit Spot account can now provide access to on-chain opportunities, bypassing the need for separate transfers and additional steps.
    • Lightning-fast and reliable: On-chain trades can be executed with exchange-grade speed and stability, seizing market opportunities instantly.
    • Early access to trending tokens: Traders can discover and acquire high-potential on-chain projects before they reach major exchanges.
    • Enhanced security: Trade with confidence, as on-chain assets are backed by Toobit’s robust account system and multi-layered security infrastructure.

    DEX+ is now available in the latest version of the Toobit app. To start your on-chain trading journey, simply update your app and tap into the DEX+ section under Spot.

    About Toobit

    Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.

    For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram

    Contact: Davin C.

    Email: market@toobit.com

    Website: www.toobit.com

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d497155a-c15a-4b84-8b37-476185a7dd45

    The MIL Network –

    June 25, 2025
  • MIL-OSI: Agillic approved as ‘SKI’ vendor for the Danish public sector

    Source: GlobeNewswire (MIL-OSI)

    Press release – Copenhagen, 25 June 2025 – Agillic A/S

    Agillic has been approved as a SKI vendor under the framework agreement ’02.06 standard software’, allowing organisations across state, regions, and municipalities to include Agillic’s marketing automation platform in tenders and to procure directly from Agillic.

    SKI – Staten og Kommunernes Indkøbsservice A/S – is a procurement organisation for the Danish public sector with the goal to establish sustainable procurement agreements and financial manoeuvrability for public entities by offering framework agreements for goods, services, and IT. 

    Christian Samsø, CEO at Agillic, comments: “We are proud to be recognised as a trusted provider to the public sector. Agillic already enables personalisation and marketing automation for several public organisations, and the SKI approval makes it easier and faster for new organisations to engage – essentially accelerating the entire public sector’s access to a trusted Nordic marketing automation platform.”  

    For further information, please contact
    Christian Samsøe, CEO
    +45 24 88 24 24
    christian.samsoe@agillic.com
      
    About Agillic A/S
    Agillic A/S (Nasdaq First North Growth Market Copenhagen: AGILC) is a Danish software company offering brands a platform through which they can work with data-driven insights and content to create, automate, and send personalised communication to millions. Agillic is headquartered in Copenhagen, Denmark. For further information, please visit agillic.com.  

    The MIL Network –

    June 25, 2025
  • MIL-OSI Video: Currencies in Flux

    Source: World Economic Forum (video statements)

    Currencies in Flux

    Amid financial sector uncertainty, non-US dollar currencies from the renminbi to the euro are representing a growing share of sovereign reserves and being used increasingly in trade invoicing.

    How could shifting market dynamics change the international currency landscape and what would these changes mean for the broader financial system?

    Join this session with leading economists and financial leaders to learn more about currency trends and their implications for the global financial system of the 21st century.

    https://www.youtube.com/watch?v=VJXxCuHYtGo

    MIL OSI Video –

    June 25, 2025
  • MIL-OSI Video: Currencies in Flux

    Source: World Economic Forum (video statements)

    Currencies in Flux

    Amid financial sector uncertainty, non-US dollar currencies from the renminbi to the euro are representing a growing share of sovereign reserves and being used increasingly in trade invoicing.

    How could shifting market dynamics change the international currency landscape and what would these changes mean for the broader financial system?

    Join this session with leading economists and financial leaders to learn more about currency trends and their implications for the global financial system of the 21st century.

    https://www.youtube.com/watch?v=VJXxCuHYtGo

    MIL OSI Video –

    June 25, 2025
  • MIL-OSI United Kingdom: Edinburgh’s economy outperforms London’s

    Source: Scotland – City of Edinburgh

    Council Leader Jane Meagher writes in the Evening News today to welcome positive news for Edinburgh’s economy.

    Edinburgh has long been Scotland’s economic powerhouse and we’re now ahead of London for the first time.

    The value of goods and services produced here in Edinburgh per person has now surpassed London’s. That’s according to economic data recently published by the Office for National Statistics.

    The figures reveal gross domestic product per head of £69,809 in Edinburgh, compared to £69,077 in London. This steady growth of Edinburgh’s economy to outperform that of London’s is no small feat. Twenty-five years ago, this same data put London 19% ahead of Edinburgh, highlighting just how well we perform as a city.

    This is good news for our local businesses, and it shows that Edinburgh is an environment in which small, local enterprises can thrive. It also demonstrates the confidence global investors have in Edinburgh. In the last year alone, we’ve welcomed 27 instances of foreign direct investment, from shops like Søstrene Grene and MINISO to major renewable energy consultants PSC.

    This is impressive and is in part thanks to the city’s resilient business community and strong employment opportunities. The economy in the city has been driven forward by a combination of relying on established sectors such as, financial services and our universities, as well as embracing new and emerging opportunities in areas such as life sciences and technology.  

    Linked to this, we’ve seen the UK Chancellor commit up to £750 million for the city and the region for a next generation ‘Exascale super-computer’ at the University of Edinburgh. This will be a national asset supporting jobs and investment and reaffirms the region’s role as an economic powerhouse. This is in keeping with the eight growth-driving sectors identified in the new Industrial Strategy, placing Edinburgh and the region in a strong position to continue to receive investment and grow the local economy.

    On top of this, £410 million will be shared across the devolved nations for a Local Innovation Partnership Fund and it makes great sense for our City Region to lead on this in Scotland. From artificial intelligence to data and robotics, this money could unlock a huge amount of investment, building on the successful projects we’ve already delivered, including the National Robotarium, the Usher Institute and Easter Bush which is now the global location of ‘Agritech’ excellence.

    Given Edinburgh’s longstanding innovation capabilities it is fantastic that we will be able to reap the associated economic, social and environmental benefits. That said, our challenge is to manage Edinburgh’s success and growth, and ensure it is fair and sustainable. To keep thriving, we need to manage the pressures placed on our housing, environment and our residents. This is the fastest growing city in Scotland, with the population expected to increase by 60,000 over the next 20 years and over four million visitors every year.

    Everyone should be able to benefit from Edinburgh’s continued economic success. We are clearly contributing more than our share to the Scottish and UK economies and both governments should continue to take note.

    MIL OSI United Kingdom –

    June 25, 2025
  • MIL-OSI United Kingdom: Cricket coup for Leeds as city cements status as a big hitter on global sporting stage

    Source: City of Leeds

    Leeds is set to come out to bat as a global sporting city as it prepares to host the ICC Women’s T20 World Cup next year.

    Following on from hosting England men’s triumph against India in the first Test this week, Headingley stadium will once again be placed firmly on the worldwide cricket stage as it welcomes the landmark women’s tournament in 2026.

    The iconic venue is scheduled to host five nail-biting showdowns as the likes of Australia, India, West Indies, Pakistan and England battle it out for the prestigious trophy, currently held by New Zealand.

    The action initially kicks off on Friday June 12, 2026, marking the start of a whirlwind month of world-class cricket, with fixtures in Headingley set for:

    • June 17 (Australia Women vs Qualifier at 10.30am and India Women vs Qualifier at 2.30pm);
    • June 18 (West Indies Women vs Qualifier at 6.30pm);
    • June 20 (England Women vs Qualifier at 6.30pm); and
    • June 23 (Australia Women vs Pakistan Women at 6.30pm)

    And from today (Wednesday June 25) for the next 12 days, people in Leeds and beyond will have the opportunity to gain exclusive, priority tickets via an online link.

    The access window opened at 10am today and ends at midnight on July 8, to help the city’s fans beat the ballot and secure a seat to watch the action in Leeds and other venues across the country.

    The announcement of Headingley as a host venue for the high-profile tournament further bolsters Leeds’s reputation as an all-rounder when it comes to global sporting events.

    Recent prominent national and international events hosted by the city include the AJ Bell World Triathlon Championship Series, the Westfield Health British Transplant Games, a number of fixtures for 2022’s Rugby League World Cup and the ICC Cricket World Cup in 2019.

    As well as raising Leeds’s profile as a sporting heavyweight, such occasions also provide a massive boost to the city’s and regional economy, as evidenced by 2014’s Tour de France Grand Depart bringing in more than £100m in addition to other long-term benefits including increased tourism and trade deals.

    The council also works alongside individual organisers to ensure that large-scale events follow robust sustainability strategies that support the city’s net zero ambitions.

    Councillor Salma Arif, Leeds City Council’s executive member for adult social care, active lifestyles and culture, said: “Hosting the ICC Women’s T20 World Cup is great news for Leeds, enhancing our already-impressive track record of staging major events of all kinds.

    “It’s a privilege to be among the many iconic venues up and down the country showcasing world-class cricket and propelling the women’s game into the mainstream – and hopefully inspiring new generations to get involved in the sport.

    “With the opening today of the priority window to access tickets, now is the chance for fans across Leeds and beyond to snap up the opportunity to enjoy what promises to be thrilling days of cricketing action right here in city.”

    Yorkshire CCC Chief Executive Officer Sanjay Patel said: “We are delighted to be hosting five fixtures in the 2026 ICC Women’s T20 World Cup.

    “Headingley has an incredible track record of hosting entertaining matches, and I’m sure it’ll be no different next summer.

    “The opportunity to host some of the world’s best cricketers is really exciting, and I’m sure the population of Leeds and the surrounding areas will come out in their numbers to support the teams.

    “Alongside this, the potential legacy that a tournament like this can have on the game is transformative and we will be working hard with a range of partners to maximise its impact.”

    Tournament director Beth Barrett-Wild said: “The ICC Women’s T20 World Cup provides us with an unparalleled opportunity to transform a month of sporting excellence into a movement that will rewrite the narrative about women’s cricket.

    “At iconic venues like Headingley, we’ll see incredible, world-class athletes battling it out in front of hundreds of thousands of fans, who with every ball bowled and run scored, will be contributing to lasting change.

    “It’s our opportunity to give women’s cricket the stage it deserves, and to inspire fans across Leeds to get involved!”

    To access tickets via the priority window, visit: https://tickets.womens.t20worldcup.com/list/partnerAdvantage?code=PQENvVsvPs.

    ENDS

    For media enquiries please contact:

    Leeds City Council communications and marketing,

    Email: communicationsteam@leeds.gov.uk

    Tel: 0113 378 6007

    MIL OSI United Kingdom –

    June 25, 2025
  • MIL-OSI: MEXC Announces Humanity Protocol (H) Listing with $90,000 H and 50,000 USDT Prize Pool

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 25, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, announces the listing of Humanity Protocol (H) on June 25, 2025 (UTC). To celebrate the listing, MEXC is launching a special event for new and existing users, featuring a total prize pool of $90,000 in H and 50,000 USDT.

    Humanity Protocol is a decentralized identity network that enables users to prove their authentic humanness through palm scan technology while maintaining complete privacy. Built on zero-knowledge cryptography, the protocol creates a Sybil-resistant identity system that works seamlessly across digital and physical environments. Humanity Protocol utilizes H tokens as the native utility token for governance, staking, and verification services, with a total supply of 10 billion H tokens.

    The Airdrop+ event runs from June 24, 2025, 10:00 (UTC) to July 3, 2025, 10:00 (UTC) and includes the following benefits:

    • Benefit 1: New users who deposit will share $75,000 in H.
    • Benefit 2: All users can participate in the Spot Challenge to share $5,000 in H.
    • Benefit 3: All users can participate in the Futures Challenge to share 50,000 USDT in Futures bonus.
    • Benefit 4: All users can invite new users to share $10,000 in H.

    MEXC has established itself as an industry leader by consistently providing users with early access to promising crypto projects. According to the TokenInsight report , MEXC leads the industry with the highest number of spot listings and fastest listing speed, maintaining high-frequency launches within bi-weekly cycles and demonstrating its ability to quickly capture market trends. To date, MEXC has listed more than 3,000 digital assets.

    With exceptional trading depth, competitive trading fees, and robust security measures, MEXC delivers a superior trading experience for users. Moving forward, MEXC will continue to maintain its industry-leading listing efficiency, innovate continuously, and expand its product offerings, ensuring users can access the best opportunities in the ever-evolving crypto landscape.

    For full event details and participation rules, please visit here.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website|X| Telegram |How to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/358d3620-cb53-48c1-82f8-e482df5c1e8f

    The MIL Network –

    June 25, 2025
  • MIL-OSI: MEXC Announces Humanity Protocol (H) Listing with $90,000 H and 50,000 USDT Prize Pool

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 25, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, announces the listing of Humanity Protocol (H) on June 25, 2025 (UTC). To celebrate the listing, MEXC is launching a special event for new and existing users, featuring a total prize pool of $90,000 in H and 50,000 USDT.

    Humanity Protocol is a decentralized identity network that enables users to prove their authentic humanness through palm scan technology while maintaining complete privacy. Built on zero-knowledge cryptography, the protocol creates a Sybil-resistant identity system that works seamlessly across digital and physical environments. Humanity Protocol utilizes H tokens as the native utility token for governance, staking, and verification services, with a total supply of 10 billion H tokens.

    The Airdrop+ event runs from June 24, 2025, 10:00 (UTC) to July 3, 2025, 10:00 (UTC) and includes the following benefits:

    • Benefit 1: New users who deposit will share $75,000 in H.
    • Benefit 2: All users can participate in the Spot Challenge to share $5,000 in H.
    • Benefit 3: All users can participate in the Futures Challenge to share 50,000 USDT in Futures bonus.
    • Benefit 4: All users can invite new users to share $10,000 in H.

    MEXC has established itself as an industry leader by consistently providing users with early access to promising crypto projects. According to the TokenInsight report , MEXC leads the industry with the highest number of spot listings and fastest listing speed, maintaining high-frequency launches within bi-weekly cycles and demonstrating its ability to quickly capture market trends. To date, MEXC has listed more than 3,000 digital assets.

    With exceptional trading depth, competitive trading fees, and robust security measures, MEXC delivers a superior trading experience for users. Moving forward, MEXC will continue to maintain its industry-leading listing efficiency, innovate continuously, and expand its product offerings, ensuring users can access the best opportunities in the ever-evolving crypto landscape.

    For full event details and participation rules, please visit here.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website|X| Telegram |How to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/358d3620-cb53-48c1-82f8-e482df5c1e8f

    The MIL Network –

    June 25, 2025
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