Category: Economy

  • MIL-OSI Europe: Egypt and EIB Global set to deploy EU grant aimed at greening Egyptian economy

    Source: European Investment Bank

    The European Investment Bank’s development arm (EIB Global) and Egypt have signed an agreement for the use of a €21 million grant to help green the Egyptian economy. The grant, funded by the European Union and managed by EIB Global, is intended to accelerate efforts by the Egyptian private and public sectors to decarbonise and promote environmental sustainability.

    MIL OSI Europe News

  • MIL-OSI China: China sees surge in culture-driven tourism

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

    BEIJING, June 15 — A large-scale VR immersive experience, “The Recluse Dongpo,” premiered at the Hainan Museum in May, attracting eager fans of the iconic Song Dynasty poet Su Shi to embark on a virtual journey through millennia of Chinese history.

    Wearing VR headsets, participants came face-to-face with a digital rendition of Su Shi (also known as Su Dongpo), who vividly recounted his dramatic life — from political exile to literary legend — in an interactive narrative.

    This fusion of technology and tradition exemplifies China’s ongoing reinvention of cultural tourism. Alongside its iconic landscapes, the country is witnessing a surge in heritage-driven travel, where films, live performances, and immersive experiences spawn compelling new destinations.

    According to a recent China Tourism Academy survey, travelers show growing interest in cultural activities: Nearly 29.2 percent of respondents prioritize cultural experiences in their itineraries, while 78.3 percent express general enthusiasm for such engagements during trips.

    Cultural spaces can serve as new settings for tourism experiences and consumption, while tourism spaces can also function as new platforms for cultural display and dissemination, said Li Xinjian, executive dean of the Capital Institute of Culture and Tourism Development at Beijing International Studies University.

    In a major government reshuffle in 2018, China merged two government agencies to form a new ministry — the Ministry of Culture and Tourism — “to promote the integrated development of cultural undertakings, cultural industries, and tourism,” according to an official document. The development of culture-driven tourism has since picked up speed.

    A 2023 high-level meeting on cultural development underscored the need to promote the “creative transformation and innovative development of China’s fine traditional culture.”

    Governments at all levels have been tapping into local cultural resources to enhance tourist appeal and boost the economy. During the Dragon Boat Festival holiday from May 31 to June 2, the city of Beijing held more than 1,700 cultural tourism events, including dragon boat carnivals, intangible cultural heritage markets, and Hanfu (traditional Chinese attire) workshops.

    The Chinese capital recorded 8.21 million tourist visits during the period, up 5.4 percent year on year. It generated 10.77 billion yuan (about 1.49 billion U.S. dollars) in tourism revenue.

    Traditional festivals proved to be high seasons for travelers. This year, during the first Spring Festival after it was inscribed on UNESCO’s Intangible Cultural Heritage list, travelers flocked to temple fairs, dragon dance performances, and intangible cultural heritage experiences to celebrate an authentic Chinese New Year.

    The 2025 Aranya Theater Festival, which will open in the coastal city of Qinhuangdao in north China’s Hebei Province, will stage 29 theatrical productions from 12 countries. During the festival, cultural activities such as art exhibitions and workshops will also be held in the coastal resort of Aranya.

    The 2024 edition of the festival received about 164,000 visitors, including foreign travelers.

    With the improvement of people’s living standards and increased opportunities for travel, there is a growing demand for cultural experiences during tourism activities, and participation takes diverse forms, said Dai Bin, president of the China Tourism Academy.

    Museums, historical cities, ancient towns, cultural districts, live-action shows, concerts, and music festivals have become major attractions in numerous tourist destinations, Dai added.

    A government initiative on boosting cultural and tourism consumption launched earlier this year proposed specific measures, such as encouraging public cultural institutions to actively develop cultural experiences, arts education services, and other offerings, enriching the supply of cultural and entertainment products, and allowing local governments to allocate special bond funds to support cultural and tourism projects.

    According to Dai, the integrated development of culture and tourism will be a focus for boosting the tourism sector during China’s 15th Five-Year Plan period (2026-2030).

    Efforts will be made to promote the integration of cultural industries and tourism supply to create more new cultural experience venues and novel tourism consumption settings for visitors, he added.

    MIL OSI China News

  • MIL-OSI Asia-Pac: InvestHK promotes Hong Kong’s biotech edge at BIO International Convention 2025

    Source: Hong Kong Government special administrative region

    InvestHK promotes Hong Kong’s biotech edge at BIO International Convention 2025
         A delegation of 16 Hong Kong life science and health technology companies will be joining InvestHK and the Hong Kong Science and Technology Parks Corporation (HKSTP) to the BIO International Convention 2025, the world’s premier biotechnology event, running June 16 to 19 (Boston time) at the Boston Convention & Exhibition Center. This joint effort underscores the strong partnership between InvestHK and the HKSTP to promote Hong Kong’s vibrant biotech ecosystem on a global stage.

         At the Hong Kong pavilion, the delegation will showcase the city’s unrivalled advantages and opportunities for American biotech companies seeking to expand into the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Asia Pacific. InvestHK will connect with global industry pioneers, sharing insights and forging partnerships to spotlight Hong Kong’s strategic strengths as a biotech powerhouse. Through dynamic presentations, one-on-one discussions, and interactive showcases, InvestHK will highlight the city’s cutting-edge ecosystem, which is tailored to empower American biotech firms to thrive in Asia’s fast-growing markets.

         Associate Director-General of Investment Promotion at InvestHK Mr Charles Ng said, “Amid a climate of global economic uncertainty and unprecedented challenges, businesses are increasingly focused on resilience, diversification, and innovation. Hong Kong, as a global biotech hub and one of the world’s leading fundraising hubs for life science and biotech, offers unique advantages for American biotechnology companies. These include a top-tier academic research and talent pool, world-class research and development infrastructure, financial strength, robust intellectual property protection, high-quality clinical trial data and strong government commitment. All these make Hong Kong an ideal location for establishing a regional headquarters to expand into the GBA and Asia-Pacific region.”
     
         The Chief Executive Officer of the HKSTP, Mr Albert Wong, said, “The United States is the world’s largest healthcare market. For technology companies to succeed in the US market, it is essential to understand how the local healthcare system operates and effectively communicates the unique value of their R&D capabilities to investors. The goal of this visit goes beyond seeking immediate investment – it is also about building long-term bridges between innovation ecosystems; offering a globally connected environment to exchange ideas, collaborate and scale. I expect the delegation will begin to see tangible results within the next 12 to 18 months.”

         Hong Kong’s biotech sector is driven by innovations such as smart hospitals and telehealth, addressing rising healthcare demands with sustainable solutions. The Hong Kong Special Administrative Region Government is enhancing the city’s capabilities through the establishment of the InnoLife Healthtech Hub in the Hong Kong-Shenzhen Innovation and Technology Park. The 2024 Policy Address also introduced a HK$10 billion I&T Industry-Oriented Fund to channel investment into strategic industries, including life and health technology.

         The GBA presents significant opportunities for American biotech firms. Designated GBA healthcare institutions can utilise Hong Kong-registered drugs and medical devices approved for public hospitals, with 51 drugs and 63 medical devices having been allowed by the Guangdong Provincial Medical Products Administration as of April 30, 2025. Additionally, the Listing Rules reform by the Hong Kong Exchanges and Clearing Limited has positioned it as a leading exchange for biotech initial public offerings, enabling pre-revenue biotech companies to list on the main board and access robust capital markets.

         InvestHK has seen strong momentum in attracting innovation and technology (I&T) companies to establish or expand their presence in the city. In 2024, the number of I&T companies assisted by InvestHK rose to 120, up from 82 in 2023, making it the top-performing sector among all sectors supported by the department. This growth reflects both the increasing global confidence in Hong Kong’s innovation ecosystem and the city’s strategic role as a springboard for I&T businesses looking to access Mainland China and Asia-Pacific markets.

         The BIO International Convention 2025 unites over 20 000 global industry leaders, representing virtually the entire biotechnology ecosystem. In an era of transformative discovery, biotechnology is revolutionising healthcare, agriculture, and environmental sustainability, offering hope and solutions to global challenges.
    Issued at HKT 10:00

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: InvestHK concludes fruitful Canada visit to deepen economic and business ties (with photos)

    Source: Hong Kong Government special administrative region – 3

         Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng today (June 14) concluded his visit to Canada, deepening economic and business ties with Canadian investors and enterprises.

         During his visit June 8 to 14 to Waterloo, Toronto, and Montreal, Mr Ng met with investors, family offices, start-ups, academia, and business leaders, emphasising Hong Kong’s role as a global financial hub and gateway to Mainland China and international markets. He hosted roundtables highlighting Hong Kong’s strengths in wealth management and cross-border investments and discussed how Canadian enterprises can leverage Hong Kong for global expansion. He toured innovation labs and facilities at universities and discussed Asian expansion plans with Canadian founders. The meetings connected researchers and ecosystem builders across life sciences, medtech, cleantech, AI, and more.

         Mr Ng also highlighted the upcoming Hong Kong FinTech Week x StartmeupHK Festival 2025, inviting Canadian investors and entrepreneurs to visit Hong Kong from November 3 to 7 and explore Asia’s dynamic markets. The event offers unparalleled access to industry leaders, cutting-edge fintech trends, and high-growth opportunities for positioning companies at the forefront of innovation.

         Mr Ng said, “The visit was highly fruitful, underscoring the strong economic relationship and vibrant investment exchanges between Hong Kong and Canada. It highlighted Hong Kong’s distinctive role as a ‘super connector’ linking global markets, offering Canadian businesses valuable pathways for expansion into Asia. This engagement not only reinforced ties between the two markets but also unlocked exciting collaborative opportunities.”

         Participants at the events expressed keen interest in Hong Kong’s business environment and connectivity. Investor Relations Officer, Velocity Incubator, University of Waterloo, Mr Andrew Martinko, said, “We learned from Invest Hong Kong about their strong commitment to driving tech innovation through action. They presented a dynamic and expanding start-up ecosystem, clearly focused on welcoming talented Canadian founders and connecting them with high-potential Asian markets and diverse funding opportunities, all within close geographic reach.”

         Co-founder and Chief Executive Officer of XSIM AI Canada Inc, Ms Shan Tao, said “Participating in the StartmeUpHK Festival was a pivotal moment for XSIM AI Canada Inc. The support and insights from InvestHK and the Hong Kong-Canada Business Association helped us uncover the unique opportunities within Hong Kong’s ecosystem. It ultimately led to a conditional offer from the Hong Kong Science and Technology Parks Corporation’s Soft Landing Programme, and the establishment of our business there. Hong Kong is where our vision for practical, scalable, purpose-driven industrial AI found both strategic alignment and real momentum – advancing economic value and environmental impact.”

         Partner at DS Avocats and Honorary Secretary of the Federation of Hong Kong Business Associations Worldwide, Ms Cindy Ho, facilitated high-level connections during the trip and shared her insights. She said, “Canada and Hong Kong share a robust and time-tested business relationship, driving trade, investment, and innovation. With Hong Kong serving as a vital hub for Canadian businesses expanding into Asia, and Canadian expertise fuelling innovation in Hong Kong, this dynamic exchange is unlocking new opportunities and reinforcing bilateral trade and investment in the global economy. As a legal professional working closely with international businesses, I have seen firsthand how Canada and Hong Kong businesses can benefit namely through the Hong Kong-Canada Income Tax Agreement. Together, we are building a future of shared prosperity and ambition, backed by strong trade and investment agreements and a long-term commitment to sustainable growth.”

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Statement from Governor Lombardo Following Completion of Bill Signings

    Source: US State of Nevada

    Carson City – June 13, 2025

    Today marks the conclusion of the 10-day period Governor Lombardo has to veto or sign bills into law following the adjournment of the 83rd (2025) Session of the Nevada Legislature. In total, Governor Lombardo received 605 bills, ultimately signing 518 bills into law and vetoing 87 bills.

    Please see the full statement from Governor Lombardo below:

    “I am proud of the meaningful progress we made this session – particularly in the areas of education and housing. Working together, we’ve taken important steps to expand educational opportunity, begin restoring accountability in our public schools, and make housing more attainable for working families across our state.

    “That said, I did not take lightly the decision to veto 87 bills. I do not enjoy using the veto pen, but as Governor, it is my responsibility to protect Nevadans from legislation that goes too far, expands government unnecessarily, or creates unintended consequences that hurt families, businesses, or our economy.

    “Each veto was carefully considered. My priority will always be to ensure that every law enacted serves the best interest of the people of Nevada – not special interests, and not bigger government.

    “To the legislators who worked in good faith throughout this session: thank you. I remain committed to working with you to build a stronger, safer, and more affordable Nevada for all.”

    In the coming weeks, Governor Lombardo will host ceremonial bill signings for Senate Bill 460, the landmark bipartisan education reform package, and Assembly Bill 540, the Nevada Housing Access and Attainability Act. Media advisories to follow.

    ### 

    MIL OSI USA News

  • MIL-OSI United Kingdom: Unprecedented boost for clinical trials under 10 Year Health Plan

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    Unprecedented boost for clinical trials under 10 Year Health Plan

    Millions will take part in clinical trials under the 10 Year Health Plan which will speed up clinical research.

    • Millions to take part in clinical trials under 10 Year Health Plan, transforming patient care with groundbreaking treatments, while driving growth.
    • Unparalleled access to trials via NHS App, and public reporting of Trusts to show who is and isn’t delivering on trials, with funding prioritised for best performers
    • Plan for Change will turbocharge clinical research to regain UK’s clout on world stage and deliver most ambitious reduction in trial set-up times in British history  

    Patients will receive the most cutting-edge treatments years earlier than planned under the government’s 10 Year Health Plan, which will speed-up clinical trials so the UK becomes a hotbed of innovation.

    Millions of people will now be able to search for and sign up to lifechanging clinical trials, via the NIHR Be Part of Research service on the NHS App, allowing patients to browse and find the trials best suited to their interests and needs.

    Eventually the plan will see the NHS App automatically match patients with studies based on their own health data and interests, sending push notifications to your phone about relevant new trials to sign up to.

    It comes as the NIHR launches a UK-wide recruitment drive for clinical trials – the biggest ever health research campaign – to get as many people involved in research as possible. Adults across the UK are being urged to register, with underrepresented groups including young people, Black people and people of South Asian heritage particularly encouraged to sign up, at bepartofresearch.uk

    The 10 Year Health Plan will bring transparency to which Trusts are performing well in clinical trials – and which are not. All NHS Trusts and organisations will need to submit data on the number of trials being conducted and the amount of progress being made – as we rebuild the country’s global status as the epicentre of research.

    Public reporting will show the number of trials sponsored by both commercial and non-commercial sponsors at specific Trusts and other organisations, including universities or Primary Care sites. It will reveal to the government, patients, investors, and Trust boards which NHS organisations are performing well and which are falling behind. Government investment will only be prioritised for the Trusts that can prove they can support the NHS to deliver the treatments of tomorrow.  

    Health and Social Care Secretary Wes Streeting said:

    The UK was has been at the forefront of scientific and medical discovery throughout our history. Some country will lead the charge in the emerging revolution in life sciences, and why shouldn’t it be Britain?

    The 10 year plan for health will marry the genius of our country’s leading scientific minds, with the care and compassion of our health service, to put NHS patients at the front of the queue for new cutting-edge treatments.

    The NHS App will become the digital front door to the NHS, and enable all of us as citizens to play our part in developing the medicines of the future. The British people showed they were willing to be part of finding the vaccine for Covid, so why not do it again to cure cancer and dementia?

    By slashing through red tape and making it easier for patients to take part, reforms in our ten year plan will grow our life sciences sector, generate news funds for the NHS to reinvest in frontline care, and benefit patients through better medicines.

    In recent years, the UK has fallen behind as a global destination for these trials, with patients and the wider economy missing out. It takes around 100 days to set up a trial in Spain, but around 250 days in the NHS. The plan will see commercial clinical trial set-up times fall to 150 days or less by March 2026 – this will be the most ambitious reduction in trial set-up times in British history.

    Currently set up processes for clinical trials take too long as a result of unnecessary bureaucracy and duplication of activities across different agencies and sites.

    Government will cut set up times for clinical trials. Currently, trials have to agree separate contracts with each part of the NHS they want to be involved. The plan will introduce a national standardised contract which can save months of wasted time, as well as simplifying paperwork to remove duplication on technical assurances.

    This means if any authority asks for evidence from a study, they can provide it once without having to spend time reframing that evidence differently to meet a separate criteria for another authority.

    In the coming weeks, the government will publish its 10 Year Health Plan. Through the plan, we will restore our position as a world leader in clinical trials, so we attract the world’s greatest minds and drive vital investment into the UK. This will spur economic growth, improve the standard of care to support a healthier population, and make the NHS more financially sustainable.

    Professor Lucy Chappell, Chief Scientific Adviser at the Department of Health and Social Care (DHSC) and Chief Executive Officer of the NIHR said:

    We know the benefits of embedding clinical research across the NHS and beyond. It leads to better care for patients, more opportunities for our workforce and provides a huge economic benefit for our health and care system. Integrated into the NHS App, the NIHR Be Part of Research service enables members of the public to be matched to vital trials, ensuring the best and latest treatments and care get to the NHS quicker.

    Ensuring all sites are consistently meeting the 150-day or less set-up time will bring us to the starting line, but together we aim to go further, faster to ensure the UK is a global destination for clinical research to improve the health and wealth of the nation.

    Dr Vin Diwakar, Clinical Transformation Director at NHS England, said:

    The NHS App is transforming how people manage their healthcare, with new features letting them see their test results or check when prescriptions are ready to collect – all at the tap of a screen.

    We’re making it easier to sign up for clinical trials through the NHS App so patients can access new treatments and technologies earlier, improving their quality of care.

    The Medicines and Healthcare products Regulatory Agency (MHRA) – which makes sure that medicines and healthcare products available in the UK are safe and effective – has already improved its performance.

    All clinical trial approval backlogs are cleared, and performance targets are now being met. Building on this, the 10 Year Health Plan will see the MHRA focus its attention on the most complex and potentially transformational new treatments – like individually personalised cancer vaccines, and the regulation of artificial intelligence. 

    Nicola Perrin, Chief Executive of the Association of Medical Research Charities, said:

    Clinical trials are good for patients, the NHS and the economy. But both commercial and non-commercial trials in the UK have closed because of failures to recruit.

    Today’s announcements will help to maximise opportunities for everyone to take part in research and speed up access to innovative treatments. We warmly welcome the focus on driving up the participation of diverse and under-served groups – something that is incredibly important to our member charities.

    It’s encouraging to see the government recognise that boosting access to clinical trials must be a key part of the 10 Year Health Plan. Transforming clinical trials is an important step in truly embedding research in the NHS, securing the UK’s position as a leader in life sciences and offering a lifeline to patients.

    Professor Andrew Morris CBE PMedSci, President of the Academy of Medical Sciences, said: 

    This announcement marks a significant commitment to strengthening the UK’s leadership in clinical research. The global clinical trials market is estimated to be worth at least $80 billion by 2030 and countries that can demonstrate speed, quality and cost will have a competitive edge.

    This commitment is very welcome as streamlined trial set-up times and enhanced public access through the NHS App will accelerate the translation of cutting-edge treatments from laboratory to bedside, directly benefiting patients whilst driving economic growth and ensuring policymakers have the evidence needed for informed healthcare decisions. 

    The focus on improving participation from under-represented communities is important, though success will depend on earning trust and addressing the broader barriers to diverse participation. By embedding research throughout the NHS and making it accessible to all communities, we can ensure that medical innovation benefits reach every corner of society whilst strengthening the UK’s position as a hub for life sciences investment and discovery.

    Updates to this page

    Published 16 June 2025

    MIL OSI United Kingdom

  • MIL-OSI New Zealand: Pharmac funding u-turn for patients

    Source: New Zealand Government

    Associate Health Minister David Seymour says the oestradiol patch funding decision is an example of Pharmac’s new patient-centric approach.

    From December 2025 Pharmac will fund two brands of oestradiol patches, Estradot and Estradiol TDP Mylan. 

    “Pharmac received significant feedback at the end of last year about a decision to move to Estradiol TDP Mylan as the only funded brand of oestradiol patch. They heard very clearly that the TDP Mylan brand of patch did not work for everyone, and that people wanted options,” Mr Seymour says.  

    “I’m pleased to see Pharmac’s responsiveness to the voices of patients by funding both brands. This decision reflects our commitment to a more adaptable and patient-centric approach.

    “The community let Pharmac know that they weren’t consulted enough on the original decision. Pharmac has learnt from this, and has added an additional consultation step to its annual tender process to seek feedback when considering a medicine brand change. This patient-centric approach was taken in today’s funding decision. 

    “Pharmac worked and engaged with people who use oestradiol patches, menopause specialists, doctors, nurses, pharmacists, advocacy groups and petition founders in making the decision to fund both brands of patches. 

    “People should have the opportunity to share what the impact of brand changes would be for them, and what support would be required if there was a change to their current medicine.

    “Last year I outlined in my letter of expectations that Pharmac should have appropriate processes for ensuring that people living with an illness, along with their carers and family, can participate in and provide input into decision-making processes around medicines, this is part of the ACT-National Coalition Agreement.

    “I expect all key groups to be involved in changes to funded medicine brands through the annual tender. This approach ensures stakeholder engagement while managing financial and operational impacts.

    The annual tender process is a key mechanism for Pharmac to manage pharmaceutical expenditure at a relatively low transactional cost. Once a year Pharmac invites suppliers to bid to be the main suppliers of certain medicines. This process can realise between $30 million and $50 million savings per year to spend on new treatments.

    “The redirection of Pharmac remains positive and continues towards a more adaptable and patient-centred approach to funding medicines,” says Mr Seymour.

    “The decisions to fund Estradot and Estradiol TDP Mylan, and to improve consultation criteria on the annual tender process follows the Pharmac Consumer Engagement Workshop Report, and my letter of expectations, are positive steps towards a system which works for the people it serves.”

    MIL OSI New Zealand News

  • MIL-OSI: Abaxx Confirms Active Trading in Gold Singapore Futures Following Launch

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 15, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced active trading in its physically-deliverable Gold Singapore Futures following the product’s official launch on June 12, 2025.

    As the only physically-deliverable, U.S. dollar-denominated gold futures contract based in Asia’s primary trading center of Singapore, this product provides a regionally relevant tool for price discovery, hedging, and delivery, and offers global access to a contract designed for today’s trade flows.

    The Abaxx Gold Singapore Futures contract is a USD-denominated, kilobar-sized product aligned with the format preferred by the regional physical bullion trade. Deliverable into approved vaults in Singapore, the contract is purpose-built to serve refiners, industrial consumers, banks, and physical traders seeking to hedge kilobar transactions in Asia’s key delivery hub.

    The launch comes at a time when gold prices are reaching record highs and demand for regional price transparency is growing.

    Abaxx Gold Singapore Futures saw active trading during their first two trading sessions. Eight market makers participated, including firms from Singapore, Hong Kong, London and Thailand, with more market makers and commercial firms expected to connect in the coming weeks.

    “KGI Securities Singapore is delighted to be cleared for trading on the Abaxx Gold Singapore Futures contract,” said Ken Ong, CEO of KGI Securities Singapore. This new offering directly addresses the growing demand for regional price transparency and a physically-deliverable gold product tailored for the Asian market. We are excited to facilitate access for our clients to this critical new instrument and to further strengthen our commitment to providing comprehensive solutions in the commodities market.”

    “We congratulate Abaxx on the launch of their Gold Futures contract,” said Golf Hirunyasiri, CEO, MTS Gold Group. “MTS Gold is pleased to be the first physical market participant committed to supporting delivery under Abaxx’s Gold Futures contract. We are excited about the synergy and participation and wish Abaxx continued success.”

    The Abaxx Gold Singapore Futures contract is available for trading 14 hours per day, Monday through Friday. For full contract specifications and onboarding information, visit abaxx.exchange/resources-clearing-members-brokers.

    About Abaxx Technologies
    Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.

    In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.

    Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.

    Abaxx Spot modernizes physical gold trading through a physically-backed gold pool in Singapore. As the first instance of a co-located spot and futures market for gold, Abaxx Spot enables secure electronic transactions, efficient OTC transfers, and is designed to support physical delivery for Abaxx Exchange’s physically-deliverable gold futures contract, providing integrated infrastructure to deliver smarter gold markets.

    For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | smartermarkets.media

    For more information about this press release, please contact:

    Steve Fray, CFO
    Tel: +1 647-490-1590

    Media and investor inquiries:

    Abaxx Technologies Inc.
    Investor Relations Team
    Tel: +1 246 271 0082
    E-mail: ir@abaxx.tech

    Cautionary Statement Regarding Forward-Looking Information

    This press release includes certain “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “believe”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”, “should”, “would”, “could”, “target”, “purpose”, “goal”, “objective”, “ongoing”, “potential”, “likely” or the negative thereof or similar expressions.

    In particular, this press release contains forward-looking statements including, without limitation, statements regarding the potential benefits and impact of the Gold Kilobar Futures contract and Abaxx Spot platform, the Company’s business strategies, plans, and objectives, the development of new markets and products, expectations regarding Abaxx’s partnerships, demand for Abaxx’s products and market adoption and regulatory approvals. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third- party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

    Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.

    The MIL Network

  • MIL-OSI New Zealand: Economy – Monetary policy affects some parts of the economy differently: RBNZ Analytical Note

    Source: Reserve Bank of New Zealand

    16 June 2025 – Some parts of the economy and prices for some products are more sensitive to a rise in the Official Cash Rate (OCR) than others.

    Reserve Bank of New Zealand – Te Pūtea Matua research found that sectors that make or trade goods, as well as housing and real estate related sectors are among the most sensitive to changes in the Official Cash Rate.

    “When the OCR increases, these sectors tend to cool more quickly. On the other hand, sectors like primary production including dairy and meat, are less sensitive,” the Analytical Note authors say.  

    The research also looked at how monetary policy affects prices across a wide range of domestic goods and services, which do not face as much foreign competition as internationally traded goods.

    “We found that prices for accommodation are quite sensitive. So, when the OCR increases, it puts downward pressure on the cost of going on holiday or business,” the authors say.  

    An OCR increase also has a strong impact on the cost of building a home. This means when the OCR increases, there is relatively more downward pressure on these costs than for prices of other domestic goods and services in the economy. Some services, like household power prices and insurance, are slower to respond to increases in the OCR.

    We carried out this research because identifying which parts of the economy are relatively more sensitive to monetary policy allows us to better understand how various parts of the economy may react when interest rates change. It also means we can see more clearly if past policy decisions are working through to the economy as expected.

    More information:

    Read the Analytical Note
    A research paper by Magnus Astebol and Nimesh Patel: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=30c1814904&e=f3c68946f8

    Watch a short video: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=f4070f8fec&e=f3c68946f8

    Other Analytical Notes: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=8a021ec357&e=f3c68946f8

    Key findings:

    We investigate the sensitivity of output and prices to monetary policy at a disaggregated level, focusing on GDP sectors and CPI non-tradables subgroups in New Zealand. Identifying which parts of the economy are relatively more responsive to monetary policy allows us to better understand how various parts of the economy may evolve in response to policy decisions and to better assess whether past policy decisions are transmitting to the economy as expected.  
    For GDP, we find that goods-producing and goods-trading sectors are the most sensitive to monetary policy, while primary production and public services are the least sensitive.
    For CPI non-tradables inflation, we find subgroups such as housing construction costs and accommodation services are more sensitive to monetary policy, while subgroups such as energy and insurance are less sensitive.
    The small sample size leads to greater variation in estimated effects across model variations. As such, this analysis aims to serve as a starting point for further work in this area.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Retirement – New Sorted retirement navigator a one-of-a-kind tool for spending in golden years

    Source: Te Ara Ahunga Ora Retirement Commission
    A groundbreaking new Sorted tool has been released to help New Zealanders nearing or already in retirement feel more confident about their financial future and how to plan for it. 
    Launched by Te Ara Ahunga Ora Retirement Commission, the retirement navigator is free to use on sorted.org.nz
    Working out how to turn a saved lump sum into a steady income to live on in retirement is a financially and mathematically challenging task. Partnering with the Retirement Income Interest Group (RIIG) of the New Zealand Society of Actuaries (NZSA), the Retirement Commission has created a customisable tool that takes care of the calculations.  
    Based on extensive modelling and drawdown ‘rules of thumb’ created by the RIIG, the retirement navigator addresses a common dilemma – how not to spend too much and run out of money or spend too little and unnecessarily compromise quality of life. 
    Taking into account people’s invested savings (for example, KiwiSaver) and NZ Super, the tool helps users determine the optimal income they can draw down over their retirement. By adjusting variables such as when they expect their retirement to start and their desired lifestyle, people can see how long their savings might last in different scenarios. 
    Sorted’s new retirement navigator is the first digital tool of its kind to be built by the Retirement Commission, and the first entirely new Sorted tool in several years. There are currently no other publicly available tools like it. 
    “There’s a lot at stake for retirees when they start living off their invested savings,” says the Retirement Commission’s Personal Finance Lead Tom Hartmann. “They don’t get any practise at it, or the option to go back in time and grow that money all over again. There are uncertainties about how long they’ll live, how high prices will rise with inflation, how investment markets will do, and how much all of this will shape their lifestyle. 
    “It’s been such a privilege to work alongside the RIIG actuaries and bring their modelling to life to enable people to forward plan. The retirement navigator puts it to real use for pre-retirees and retirees, so they can plan their spending wisely.” 
    Recognising that retirement takes different shapes and forms, the new tool offers four rules of thumb to match personal preferences and lifestyles: 
    • * The Inflated 4% Rule: For those who are concerned about longevity and want to leave an inheritance. 
    • * The 6% Rule: For those wanting to spend more in their early retirement years. 
    • * The Life Expectancy Rule: For maximising income throughout retirement. 
    • * The Fixed Date Rule: For those planning to rely on NZ Super after a certain period. 
    Each option comes with clear guidance and practical solutions to real-life financial challenges.  
    The NZSA’s Ian Perera, Convenor of the RIIG says, “We’re thrilled to see our work on rules of thumb for drawdown come to life thanks to Te Ara Ahunga Ora Retirement Commission. 
    “We always hoped people thinking about their retirement would find our work helpful, and the Sorted retirement navigator tool takes it to the next level of access and understanding. Moving from accumulating savings to drawing them down is not straightforward. We admire how Sorted’s experts have embraced our actuarial work while making the retirement journey as easy to navigate as possible.” 
    Sorted’s retirement navigator tool aims to help New Zealanders: 
    • * Effectively integrate their NZ Super with other retirement savings 
    • * Make more informed decisions about their savings 
    • * Better understand their options for creating sustainable retirement income  
    • * Adapt their spending strategies as circumstances change 
    • * Approach and enjoy retirement feeling less stressed and more secure.  
    Potential applications include use by KiwiSaver providers and financial advisers throughout Aotearoa when offering tailored guidance to clients and customers.  
    Although intended for those who are nearing or already in retirement, the retirement navigator can be useful to people of any age who wish to examine how they might best manage their projected savings. Those who are more than a decade away from stopping paid work can forecast how much they’re on track to have by using Sorted’s existing retirement calculator and KiwiSaver calculator. 
    To try the new retirement navigator, visit sorted.org.nz/tools/retirement-navigator.
    About Sorted and the retirement navigator 
    Driven by Te Ara Ahunga Ora Retirement Commission to improve New Zealanders’ financial wellbeing through accessible, actionable, relatable financial education, Sorted offers a range of free digital tools and calculators. Click here to view them. 
    To read the new guide to using the retirement navigator, click here
    About the New Zealand Society of Actuaries 
    The New Zealand Society of Actuaries (NZSA) is the professional body for actuaries practising in New Zealand. It supports a highly specialised pool of around 400 members, of which around 250 are fully qualified actuaries. It sets, maintains and upholds actuarial professional standards and conduct, and supports members as they advance their skills and knowledge. 
    NZSA also contributes to the development of actuarial thinking and its application through thought leadership activities, and provides a source of reference on actuarial matters for government and other interested bodies. 
    NZSA’s Retirement Income Interest Group (RIIG) provides a forum for Society members’ concerns and ideas relating to retirement income, longevity and related issues. The RIIG has published significant work on retirement income including its drawdown ‘rules of thumb’. See the RIIG’s work here

    MIL OSI New Zealand News

  • MIL-OSI: Share issue to personnel – 14 June 2025

    Source: GlobeNewswire (MIL-OSI)

    The board of directors of IDEX Biometrics ASA has resolved to issue 299,381,600 new shares at NOK 0.01 per share to employees, contractors and directors in the IDEX group (“Personnel Placement”). The purpose of the Personnel Placement is to incentivise the personnel in the implementation of the amended business plan and commercialisation of the company’s products.

    The Personnel Placement is according to the resolution by the extraordinary general meeting of IDEX Biometrics ASA held on 11 April 2025, where the board was authorised to issue shares on terms equivalent to the terms in the debt conversion that was approved at the same meeting.

    The shares are restricted for 18 months from the date of issuance and may not be sold or otherwise transferred during the restriction period. 1/3 of the shares are released from the restriction after 6 months and another 1/3 are released after 12 months. In the event a holder resigns or is terminated from employment or service, the company has the right to repurchase the holder’s restricted shares at certain terms.

    The Board has considered the issue to the Personnel in light of the equal treatment obligations under the PLCA, the Norwegian Securities Trading Act, the rules on equal treatment under Oslo Rule Book II for companies listed on the Oslo Stock Exchange and the Oslo Stock Exchange’s Guidelines on the rule of equal treatment and deems that the proposed Personnel Placement is in compliance with these requirements. The Board holds the view that it will be in the common interest of the Company and its shareholders to incentivize the Company’s Personnel by issuance of the Offer Shares, both in the short term and in the long term. The number of Offer Shares represents approximately 6,7 % of the total number of outstanding shares in the Company, and the dilutive effect for the Company’s shareholders is limited. The subscription price for the Offer Shares, which was presented to the EGM as the intended issue price, is NOK 0.01, and the subscription price, before taking into account the lock up, consequently represents a 78 % discount to the closing price of the Company’s shares on Oslo Børs on 13 June 2025. Taking into account the lock up period and the volatility of the shares, the discount will vary from no discount at all to approx. 25 %. While the discount can be deemed significant, the Company is of the view that the number of Offer Shares issued, the fact that the issuance is made to the Personnel only, the EGM has specifically approved the framework for this equity issue, the Offer Shares will be subject to sales restrictions by way of a reverse vesting schedule with trading and transfer restrictions over 18 months, including with an option for the Company to repurchase the Offer Shares upon termination or resignation prior to the end of the 18-month period, collectively ensure that the Company is in compliance with its equal treatment obligations.

    Following registration of the share capital increase, the company’s share capital will be NOK 47,310,125.99, divided into 4,731,012,599 shares each with a nominal value of NOK 0.01.

    Contact person
    Kristian Flaten, CFO, Tel.: +47 950 92322
    E-mail: ir@idexbiometrics.com

    About IDEX Biometrics
    IDEX Biometrics ASA (IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

    For more information, visit www.idexbiometrics.com

    About this notice
    This notice was issued by Erling Svela, VP of finance, on 10 June 2025 at 23:50 CET on behalf of IDEX Biometrics ASA. The shall be disclosed according to section 5-8 of the Norwegian  Securities Trading Act (STA) and published in accordance with section 5-12 of the STA.

    The MIL Network

  • MIL-OSI New Zealand: Council calls for applications to help transform water quality across Auckland

    Source: Auckland Council

    Auckland Council’s Regional Waterway Protection Fund (RWPF) and Making Space for Rural Water Fund are now open for applications, offering up to $800,000 in grants to rural landowners committed to improving freshwater quality and restoring biodiversity across the region.

    Applications are open from 16 June to 27 July 2025.

    Now in its 10th year, the RWPF supports fencing and native planting projects that protect waterways from livestock, reduce sediment runoff, and enhance aquatic ecosystems.

    The fund operates on a 50/50 partnership model, with Auckland Council providing financial support, restoration plans and technical advice, and landowners contributing cash or in-kind labour.

    This year, priority areas include the Papakura Stream, Matakana River, Ōrere River, Āwhitu Catchment, and Aotea / Great Barrier Island. Grants will also be available through the Making Space for Water Fund, designed to complement these efforts.

    Tom Mansell, Auckland Council’s Head of Sustainable Partnerships, says the fund continues to deliver real change.

    “Improving rural water quality is one of the most meaningful actions we can take to protect our environment. It benefits not only the land and water but the communities that depend on them,” says Mr Mansell.

    The projects, funded through the RWPF, are a long-term investment in the health of our ecosystems. These initiatives are a powerful example of how collaboration between landowners, council and community can restore balance to our natural landscapes.

    Projects eligible for funding include:

    • stock-exclusion fencing
    • riparian planting using eco-sourced natives
    • fish passage improvements
    • alternative water supplies for livestock.

    Applications will be assessed on environmental outcomes, project feasibility, community involvement, and alignment with iwi and hapū values.

    RWPF and Making Space for Rural Water funded projects are already reshaping rural Auckland—restoring wetlands, protecting native species, and building stronger connections between people and place.

    For more information and to apply, read more on the main Auckland Council website. 

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: National Volunteer Week celebrates millions of volunteers

    Source: New Zealand Government

    National Volunteer Week kicks off today and is the biggest celebration of volunteering in New Zealand, says Minister for the Community and Voluntary Sector Louise Upston.

    “This week is an opportunity to thank the millions of volunteers who make a difference to our communities every day,” Ms Upston says.

    Over 53% of adult New Zealanders volunteer, either for organisations or directly helping others, and 89% of community organisations are volunteer run. Formal volunteering is worth $6.4 billion to the economy, and when you add people who volunteer directly it’s worth over double that at $14.4 billion.  

    More than the economic value, volunteering is vital to the health and wellbeing of our communities. Volunteers are everywhere—supporting aged care, disability services, community programmes, the arts, sports, emergency response, and caring for our environment.

    “The work of volunteers touches almost every part of our lives. Volunteering also gives back to those who volunteer by helping people feel connected, supported, and valued.

    “So this National Volunteer Week, let’s celebrate those who give their time – and encourage others to join in too. Every act of volunteering, big or small, makes a difference. Together, let’s celebrate the power of volunteering.”

    MIL OSI New Zealand News

  • MIL-OSI Australia: Tougher child safety rules to help keep children safer in early education

    Source: Murray Darling Basin Authority

    Stronger, mandatory child safety measures have been signed off by every Australian Education Minister to strengthen child safety in early childhood education and care services.

    This forms part of the significant progress that has already been made since the release of the Australian Children’s Education and Care Quality Authority (ACECQA) Review of Child Safety Arrangements under the National Quality Framework.

    In July 2024, a new National Code and Guidelines were released that recommended only service-issued devices can be used when photographing and filming children.

    From 1 September 2025, further key changes include:

    • Mandatory 24 hour reporting of any allegations, complaints or incidents of physical or sexual abuse – down from the current 7 day window
    • A ban on vapes in all early education and care services
    • Stronger protections around digital technology use, with services required to have clear policies on taking photos and videos of children, parent consent, CCTV practice and using service-issued devices.

    Child safety will also be explicitly embedded into the National Quality Standard from 1 January 2026.

    ACECQA will issue new guidance and resource materials to support the early education sector implement these changes.

    These changes are in addition to the further reforms flagged by the Albanese Labor Government in March this year to crack down on unscrupulous early childhood education and care providers and strengthen integrity across the care economy.

    These include measures to:

    • Prevent providers who persistently fail to meet minimum standards and repetitively breach the National Law from opening new Child Care Subsidy approved services.
    • Take compliance action against existing providers with egregious and continued breaches, including the option to cut off access to Child Care Subsidy funding where appropriate.
    • Strengthen powers to deal with providers that pose an integrity risk.

    Education Ministers will meet next week to consider additional actions to strengthen child safety in education and care services.

    Quotes attributed to Minister for Education Jason Clare:

    “The safety and protection of children in early childhood education is our highest priority.

    “Australia has a very good system of early childhood education and care, but more can be done to make sure safety guidance and measures are fit-for-purpose.

    “That’s why Education Ministers are acting on this key recommendation to make sure the right rules are in place to keep our children safe while they are in early education and care.”

    Quotes attributed to Minister for Early Childhood Education Dr Jess Walsh:

    “Children’s health and safety is paramount at early childhood centres, and these changes will help to ensure that we continue to provide that assurance.

    “The Australian Government is absolutely committed to ensuring that children have a positive, rewarding and safe early education experience to get the best possible start in life.”

    Quotes attributed to ACT Minister for Education and Early Childhood Yvette Berry:

    “The safety and wellbeing of children in early childhood education is our highest priority.  Access to quality early childhood education sets children up for lifelong learning and success.

    “Valuing children and investing in their learning and development requires us also to value and invest in the early childhood workforce.

    “I look forward to continuing to work in partnership with the Commonwealth, to strengthen the National Quality Framework.”

    Quotes attributed to Victorian Minister for Children Lizzie Blandthorn:

    “The safety and wellbeing of children is our highest priority – and here in Victoria we work every day to make sure they are safe, supported and ready to thrive.

    “We welcome these new changes, and we’ll continue to work with the Commonwealth, states and territories to review and improve safety for all children.”

    Quotes attributed to acting NSW Minister for Education and Early Learning Courtney Houssos:

    “These measures are an important first step. While we work with our colleagues on a national approach, the national law allows states to cater to their own needs.

    “NSW welcomes these measures and looks forward to providing additional measures in response to our most recent review.”

    Quotes attributed to Queensland Minister for Education and the Arts John-Paul Langbroek:

    “We must all be persistent in our efforts to strengthen safety measures at childhood education and care services.

    “These changes are a step in the right direction, and I welcome this national approach which will ensure Queensland kids are better protected while providing consistency across all states and territories.”

    Quotes attributed to Northern Territory Minister for Education and Training and Minister for Early Education Jo Hersey:

    “The Northern Territory Government welcomes the Child Safety Review, particularly its focus on strengthening supervision and improving the physical environment to keep children safe.

    “As part of our commitment to addressing the root causes of crime, we recognise that safeguarding children is fundamental to long-term community safety.”

    Quotes attributed to Western Australia Minister for Education; Early Childhood Sabine Winton:

    “The Cook Labor Government is committed to ensuring the safety of children who attend early childhood education and care services in Western Australia.

    “I know there are incredible early learning centres and early childhood educators that help children learn and thrive each and every day.

    “I look forward to working alongside the Albanese Labor Government to further strengthen child safety in early childhood education services, to ensure children have the best possible start to life.”

    Quotes attributed to South Australian Minister for Education, Training and Skills Blair Boyer:

    “I’m pleased to see all states and territories working together to strengthen the regulations around education and care services to ensure children are safe no matter where the live. 

    “The Malinauskas Labor Government recently provided an extra $7 million to the Education Standards Board to increase and improve regulatory services. This has seen a 63 per cent increase on the previous year in the number of service visits.

    “I look forward to meeting with my colleagues next week to discuss in more detail how we can ensure we as state and federal governments are doing everything we can to provide safe and secure environments for our youngest Australians.”

    For more information

    NQF changes information sheet

    Review of Child Safety Arrangements under the National Quality Framework

    MIL OSI News

  • MIL-Evening Report: Small businesses are an innovation powerhouse. For many, it’s still too hard to raise the funds they need

    Source: The Conversation (Au and NZ) – By Colette Southam, Associate Professor of Finance, Bond University

    The federal government wants to boost Australia’s productivity levels – as a matter of national priority. It’s impossible to have that conversation without also talking about innovation.

    We can be proud of (and perhaps a little surprised by) some of the Australian innovations that have changed the world – such as the refrigerator, the electric drill, and more recently, the CPAP machine and the technology underpinning Google Maps.

    Australia is continuing to drive advancements in machine learning, cybersecurity and green technologies. Innovation isn’t confined to the headquarters of big tech companies and university laboratories.

    Small and medium enterprises – those with fewer than 200 employees – are a powerhouse of economic growth in Australia. Collectively, they contribute 56% of Australia’s gross domestic product (GDP) and employ 67% of the workforce.

    Our own Reserve Bank has recognised they also have a huge role to play in driving innovation. However, they still face many barriers to accessing funding and investment, which can hamper their ability to do so.

    Finding the funds to grow

    We all know the saying “it takes money to make money”. Those starting or scaling a business have to invest in the present to generate cash in the future. This could involve buying equipment, renting space, or even investing in needed skills and knowledge.

    A small, brand new startup might initially rely on debt (such as personal loans or credit cards) and investments from family and friends (sometimes called “love money”).

    Having exhausted these sources, it may still need more funds to grow. Bank loans for businesses are common, quick and easy. But these require regular interest payments, which could slow growth.

    Selling stakes

    Alternatively, a business may want to look for investors to take out ownership stakes.

    This investment can take the form of “private equity”, where ownership stakes are sold through private arrangement to investors. These can range from individual “angel investors” through to huge venture capital and private equity firms managing billions in investments.

    It can also take the form of “public equity”, where shares are offered and are then able to be bought and sold by anyone on a public stock exchange such as the Australian Securities Exchange (ASX).

    Unfortunately, small and medium-sized companies face hurdles to accessing both kinds.

    Companies need access to finance to turn ideas into reality.
    Kvalifik/Unsplash

    Private investors’ high bar to clear

    Research examining the gap in small-scale private equity has found 46% of small and medium-sized firms in Australia would welcome an equity investment – despite saying they were able to acquire debt elsewhere.

    They preferred private equity because they also wanted to learn from experienced investors who could help them grow their companies. However, very few small and medium-sized enterprises were able to meet private equity’s investment criteria.

    When interviewed, many chief executives and chairs of small private equity firms said their lack of interest in small and medium-sized enterprises came down to cost and difficulty of verifying information about the health and prospects of a business.

    To make it easier for investors to compare investments, all public companies are required to disclose their financial information using International Financial Reporting Standards.

    In contrast, small private companies can use a simplified set of rules and do not have to share their statements of profit and loss with the general public.

    Share markets are costly and complex

    Is it possible to list on a stock exchange instead? An initial public offering (IPO) would enable the company to raise funds by selling shares to the public.

    Unfortunately, the process of issuing shares on a stock exchange is time-consuming and costly. It requires a team of advisors (accountants, lawyers, and bankers) and filing fees are high.

    There are also ongoing costs and obligations associated with being a publicly traded company, including detailed financial reporting.

    Last week, the regulator, the Australian Securities and Investments Commission (ASIC), announced new measures to encourage more listings by streamlining the IPO process.

    Despite this, many small companies do not meet the listing requirements for the ASX.

    These include meeting a profits and assets test and having at least 300 investors (not including family) each with A$2,000.

    There is one less well-known alternative – the smaller National Stock Exchange of Australia (NSX), which focuses on early-stage companies. Ideally, this should have been a great alternative for small companies, but it has had limited success. The NSX is now set to be acquired by a Canadian market operator.

    Making companies more attractive

    Our previous research has highlighted that small and medium-sized businesses should try to make themselves more attractive to private equity companies. This could include improving their financial reporting and using a reputable major auditor.

    At their end, private equity companies should cast a wider net and invest a little more time in screening and selecting high-quality smaller companies. That could pay off – if it means they avoid missing out on “the next Google Maps”.

    What we now know as Google Maps began as an Australian startup.
    Susan Quin & The Bigger Picture, CC BY

    What about the $4 trillion of superannuation?

    There are other opportunities we could explore. Australia’s pool of superannuation funds, for example, have begun growing so large they are running out of places to invest.

    That’s led to some radical proposals. Ben Thompson, chief executive of Employment Hero, last year proposed big superannuation funds be forced to invest 1% of their cash into start-ups.

    Less extreme, regulators could reassess disclosure guidelines for financial providers which may lead funds to prefer more established investments with proven track records.

    There is an ongoing debate about whether the Australian Prudential Regulation Authority (APRA), which regulates banks and superannuation, is too cautious. Some believe APRA’s focus on risk management hurts innovation and may result in super funds avoiding startups (which generally have a higher likelihood of failure).

    In response, APRA has pointed out the global financial crisis reminded us to be cautious, to ensure financial stability and protect consumers.


    This article is part of The Conversation’s series, The Productivity Puzzle.

    The author would like to acknowledge her former doctoral student, the late Dr Bruce Dwyer, who made significant contributions to research discussed in this article. Bruce passed away in a tragic accident earlier this year.

    Colette Southam does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Small businesses are an innovation powerhouse. For many, it’s still too hard to raise the funds they need – https://theconversation.com/small-businesses-are-an-innovation-powerhouse-for-many-its-still-too-hard-to-raise-the-funds-they-need-256333

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Small businesses are an innovation powerhouse. For many, it’s still too hard to raise the funds they need

    Source: The Conversation (Au and NZ) – By Colette Southam, Associate Professor of Finance, Bond University

    The federal government wants to boost Australia’s productivity levels – as a matter of national priority. It’s impossible to have that conversation without also talking about innovation.

    We can be proud of (and perhaps a little surprised by) some of the Australian innovations that have changed the world – such as the refrigerator, the electric drill, and more recently, the CPAP machine and the technology underpinning Google Maps.

    Australia is continuing to drive advancements in machine learning, cybersecurity and green technologies. Innovation isn’t confined to the headquarters of big tech companies and university laboratories.

    Small and medium enterprises – those with fewer than 200 employees – are a powerhouse of economic growth in Australia. Collectively, they contribute 56% of Australia’s gross domestic product (GDP) and employ 67% of the workforce.

    Our own Reserve Bank has recognised they also have a huge role to play in driving innovation. However, they still face many barriers to accessing funding and investment, which can hamper their ability to do so.

    Finding the funds to grow

    We all know the saying “it takes money to make money”. Those starting or scaling a business have to invest in the present to generate cash in the future. This could involve buying equipment, renting space, or even investing in needed skills and knowledge.

    A small, brand new startup might initially rely on debt (such as personal loans or credit cards) and investments from family and friends (sometimes called “love money”).

    Having exhausted these sources, it may still need more funds to grow. Bank loans for businesses are common, quick and easy. But these require regular interest payments, which could slow growth.

    Selling stakes

    Alternatively, a business may want to look for investors to take out ownership stakes.

    This investment can take the form of “private equity”, where ownership stakes are sold through private arrangement to investors. These can range from individual “angel investors” through to huge venture capital and private equity firms managing billions in investments.

    It can also take the form of “public equity”, where shares are offered and are then able to be bought and sold by anyone on a public stock exchange such as the Australian Securities Exchange (ASX).

    Unfortunately, small and medium-sized companies face hurdles to accessing both kinds.

    Companies need access to finance to turn ideas into reality.
    Kvalifik/Unsplash

    Private investors’ high bar to clear

    Research examining the gap in small-scale private equity has found 46% of small and medium-sized firms in Australia would welcome an equity investment – despite saying they were able to acquire debt elsewhere.

    They preferred private equity because they also wanted to learn from experienced investors who could help them grow their companies. However, very few small and medium-sized enterprises were able to meet private equity’s investment criteria.

    When interviewed, many chief executives and chairs of small private equity firms said their lack of interest in small and medium-sized enterprises came down to cost and difficulty of verifying information about the health and prospects of a business.

    To make it easier for investors to compare investments, all public companies are required to disclose their financial information using International Financial Reporting Standards.

    In contrast, small private companies can use a simplified set of rules and do not have to share their statements of profit and loss with the general public.

    Share markets are costly and complex

    Is it possible to list on a stock exchange instead? An initial public offering (IPO) would enable the company to raise funds by selling shares to the public.

    Unfortunately, the process of issuing shares on a stock exchange is time-consuming and costly. It requires a team of advisors (accountants, lawyers, and bankers) and filing fees are high.

    There are also ongoing costs and obligations associated with being a publicly traded company, including detailed financial reporting.

    Last week, the regulator, the Australian Securities and Investments Commission (ASIC), announced new measures to encourage more listings by streamlining the IPO process.

    Despite this, many small companies do not meet the listing requirements for the ASX.

    These include meeting a profits and assets test and having at least 300 investors (not including family) each with A$2,000.

    There is one less well-known alternative – the smaller National Stock Exchange of Australia (NSX), which focuses on early-stage companies. Ideally, this should have been a great alternative for small companies, but it has had limited success. The NSX is now set to be acquired by a Canadian market operator.

    Making companies more attractive

    Our previous research has highlighted that small and medium-sized businesses should try to make themselves more attractive to private equity companies. This could include improving their financial reporting and using a reputable major auditor.

    At their end, private equity companies should cast a wider net and invest a little more time in screening and selecting high-quality smaller companies. That could pay off – if it means they avoid missing out on “the next Google Maps”.

    What we now know as Google Maps began as an Australian startup.
    Susan Quin & The Bigger Picture, CC BY

    What about the $4 trillion of superannuation?

    There are other opportunities we could explore. Australia’s pool of superannuation funds, for example, have begun growing so large they are running out of places to invest.

    That’s led to some radical proposals. Ben Thompson, chief executive of Employment Hero, last year proposed big superannuation funds be forced to invest 1% of their cash into start-ups.

    Less extreme, regulators could reassess disclosure guidelines for financial providers which may lead funds to prefer more established investments with proven track records.

    There is an ongoing debate about whether the Australian Prudential Regulation Authority (APRA), which regulates banks and superannuation, is too cautious. Some believe APRA’s focus on risk management hurts innovation and may result in super funds avoiding startups (which generally have a higher likelihood of failure).

    In response, APRA has pointed out the global financial crisis reminded us to be cautious, to ensure financial stability and protect consumers.


    This article is part of The Conversation’s series, The Productivity Puzzle.

    The author would like to acknowledge her former doctoral student, the late Dr Bruce Dwyer, who made significant contributions to research discussed in this article. Bruce passed away in a tragic accident earlier this year.

    Colette Southam does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Small businesses are an innovation powerhouse. For many, it’s still too hard to raise the funds they need – https://theconversation.com/small-businesses-are-an-innovation-powerhouse-for-many-its-still-too-hard-to-raise-the-funds-they-need-256333

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Ahead of the $3 XRP Era, PFMCrypto Launches 2-Day XRP Mining Promotion, $1 Million Giveaway Sparks Community Excitement

    Source: GlobeNewswire (MIL-OSI)

    Farington, England, June 15, 2025 (GLOBE NEWSWIRE) — As XRP appears poised to surge to $3 in June, leading XRP mining platform PFMCrypto has launched a 48-hour exclusive XRP mining promotion, giving away $1 million USD in rewards to its global user base. This limited-time event aims to help users capitalize on XRP’s bullish momentum and unlock substantial returns.

    Key Highlights of the XRP Mining Promotion:

    – 48-Hour Flash Mining: A two-day, high-intensity mining window designed to generate fast profits.

    – $1 Million Prize Pool: PFMCrypto will distribute a total of $1 million worth of XRP, including fixed-tier rewards of $35 / $1,800 / $4,800, available to users based on mining participation.

    – Boosted Mining Returns: During the promotion, daily returns for XRP stakers and miners will be enhanced.

    Event page: https://pfmcrypto.net 

    AI + XRP Mining: Real-World Impact from PFMCrypto

    PFMCrypto’s AI-powered mining solution offers a remote crypto mining model supporting a wide range of digital assets, including BTC, LTC, XRP, and DOGE. Users can mine cryptocurrencies without hardware investment or technical maintenance, relying on PFMCrypto’s robust mining infrastructure.

    By connecting to high-performance mining farms, PFMCrypto handles complex blockchain computations in real time, ensuring that users receive consistent crypto rewards without operational headaches.

    Why Anyone Can Start XRP Mining with PFMCrypto?

    – No Hardware Needed: Users benefit from PFMCrypto’s industrial-grade hash power—no need to purchase expensive mining rigs.

    – Zero Maintenance Costs: PFMCrypto covers electricity, repairs, and operational overhead. Once a mining plan is purchased, users can relax and enjoy passive income—even beginners can start mining within minutes.

    – Beginner-Friendly: No technical expertise required. New users receive a $10 sign-up bonus.

    – Stable Daily Earnings: Daily payouts are available, and principal is fully returned upon contract expiration, ensuring capital security.

    Click here to become a member of PFMCrypto and receive a $10 bonus.

    Why Now? XRP’s Road to $3

    Analysts are increasingly bullish on XRP’s fundamentals, predicting that rising adoption and regulatory clarity may drive the token past the $3 threshold. PFMCrypto’s CEO commented,

    “This promotion is our way of giving back to a community that believes in the future of XRP. We’re aligning this campaign with what could be a historic moment for the digital asset.”

    PFMCrypto’s Cloud Mining Contract Strategies: Performance-Backed

    With the launch of its new 2-day XRP contract, PFMCrypto opens access to its high-performance cloud mining infrastructure—for free. Since its founding in 2018, the platform has grown to support over 9.2 million active users across 192 countries, delivering impressive results:

    2-Day Strategy: +6.6% return

    5-Day Strategy: +6.15% return

    15-Day Strategy: +20.7% return

    30-Day Strategy: +55.6% return

    These are actual performance results experienced by users—not speculative projections—enabled by PFMCrypto’s AI-driven profit optimization and outcome-based mining model.

    View the full range of PFMCrypto contracts here.

    How to Start XRP Cloud Mining with PFMCrypto

    1. Register: Sign up instantly and receive a $10 welcome bonus, plus $0.60 in daily login rewards.
    2. Choose a Plan: Select a mining contract that fits your budget and financial goals. All plans support XRP mining.
    3. Start Earning: Once activated, PFMCrypto’s intelligent platform handles the rest—ensuring seamless, efficient mining operations to maximize your earnings.

    About PFMCrypto

    PFMCrypto is a global leader in crypto mining and passive income infrastructure, serving both retail and institutional clients with transparent, efficient, and stable cloud mining solutions. To date, PFMCrypto has served more than 9.2 million users worldwide and processed over $1 billion in mining payouts. With operational hubs across Asia, Europe, and North America, and partnerships with leading mining farms and data centers, PFMCrypto is committed to reshaping how users interact with crypto investments.

    Explore full details and start mining today at https://pfmcrypto.net 

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network

  • MIL-Evening Report: A solar panel recycling scheme would help reduce waste, but please repair and reuse first

    Source: The Conversation (Au and NZ) – By Deepika Mathur, Senior Research Fellow, Northern Institute, Charles Darwin University

    tolobalaguer.com, Shutterstock

    Australia’s rooftop solar industry has renewed calls for a mandatory recycling scheme to deal with the growing problem of solar panel waste. Only about 10% of panels are currently recycled. The rest are stockpiled, sent overseas or dumped in landfill.

    One in three Australian homes now have rooftop solar panels, and new systems are being installed at the rate of 300,000 a year. Meanwhile, older systems are being scrapped – often well before the end of their useful life.

    This has made solar panels Australia’s fastest-growing electronic waste stream. Yet federal government plans for a national scheme to manage this waste appear to have stalled.

    Clearly, solar panel waste is a major problem for Australia. Recycling is one part of the solution. But Australia also needs new rules so solar panels can be repaired and reused.

    Millions of solar panels dumped as upgrades surge (ABC News, June 12, 2025)

    What are product stewardship schemes?

    The Smart Energy Council, which represents the solar industry, is calling for a national product stewardship scheme.

    Product stewardship schemes share responsibility for reducing waste at the end of a product’s useful life. They can involve people all along the supply chain, from manufacturers to importers to retailers.

    Such schemes may be voluntary, and industry-led, or mandatory and legislated. Alternatively, they can be shared – approved by government but run by an organisation on behalf of industry.

    Existing schemes manage waste such as oil, tyres, paper and packaging, mobile phones, televisions and computers.

    Depending on the product, a levy is paid by the manufacturer, product importer, network service provider (in case of mobile muster), retailer or consumer – or a combination of these. The money raised is then invested in recycling, research or raising awareness and administering the scheme.

    Establishing a solar panel product stewardship scheme

    Solar panel systems were added to a national priority list for a product stewardship scheme in 2017.

    In December 2020, the federal government called for partners to help develop the scheme, but later stated that no partnership would be struck.

    The government released a discussion paper for comment in 2023. The scheme has not yet been established.

    This is particularly problematic given Australia’s commitment to renewable energy, which will entail a rapid expansion of solar technology.

    Recycling should be the last resort

    Product stewardship schemes assume recycling is the main solution to the waste problem.

    Australia’s National Waste Policy also focuses on on recycling, rather than reuse or repair. This is despite recycling being the last resort on the “waste hierarchy”, just slightly above disposal.

    Solar photovoltaic panels are built to last 30 years or more, and are “not made to be unmade”. They are not easy to dismantle for recycling because they are built to withstand harsh conditions.

    It’s difficult for Australia to influence the design of solar panels, given 99% are imported. Just one manufacturer, Tindo Solar in Adelaide, assembles solar panels on Australian soil, using imported silicon cells.

    Many solar panels are being removed well before their end of life, generating waste ahead of time. This is rarely because they have stopped producing power.

    In our previous research, we found many reasons why people chose to take solar panels down. Consumers are often advised to replace the whole system when just a few panels are faulty. Or they may simply be upgrading to a larger, more efficient system. Sometimes it’s because they want to access a new renewable energy subsidy.

    Renewable subsidies and other solar panel policies should be redesigned to keep panels on roofs for longer.

    Functioning solar panels removed before the end of their life should be reused. This would require new regulations including quality-control measures certifying second-hand solar panels, and second-hand markets. This is a much neglected field of research and development.

    What else should such a scheme include?

    Others have discussed what a solar panel product stewardship scheme could include and the possible regulatory environment.

    We think the scheme should also involve collecting and transporting panels around Australia, including remote areas.

    Unfortunately, existing product stewardship schemes do not differentiate between urban, regional and remote areas. The same is likely to be the case for a solar panel collection and recycling scheme.

    This leaves regional and remote areas with fewer recycling facilities and collection points. With a growing number of large solar projects in Northern Australia, reducing waste is imperative.

    Remote island communities in the Northern Territory bundle up their recyclables and ship it to Darwin. Removed solar panels are then transported to urban Victoria, New South Wales or South Australia for processing. Who should bear the cost of transporting this waste? Consumers, remote regional councils with small ratepayer bases, or manufacturers and retailers?

    A well-designed scheme would help recover valuable resources across Australia for reuse in new products.

    However, large volumes of solar panels would be required for recycling schemes to become commercially viable. That’s why the solar recycling industry is concerned about exporters and scrap dealers collecting panels rather then certified solar panel recyclers.

    Even if the technology for recycling solar panels is nascent in Australia, it’s worth stockpiling panels in Australia for later.

    Considering these issues in the design of a product stewardship scheme would help ensure we can maximise the benefits of renewable energy, while minimising waste.

    Deepika Mathur has received research funding from the Northern Territory and federal governments.

    Robin Gregory is affiliated with Regional Development Australia Northern Territory

    ref. A solar panel recycling scheme would help reduce waste, but please repair and reuse first – https://theconversation.com/a-solar-panel-recycling-scheme-would-help-reduce-waste-but-please-repair-and-reuse-first-258806

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Inside information, negative profit warning – Oma Savings Bank Plc lowers its earnings guidance for 2025

    Source: GlobeNewswire (MIL-OSI)

    OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE, 15 JUNE 2025 AT 21:55 P.M. EET, INSIDE INFORMATION


    Inside information, negative profit warning –
    Oma Savings Bank Plc lowers its earnings guidance for 2025

    Oma Savings Bank Plc (OmaSp or Company) lowers its earnings guidance for 2025 as the company’s cost level is expected to remain high throughout the 2025 financial year due to investments in risk management and quality processes, increased headcount, and efforts to address the findings of the Financial Supervisory Authority’s inspection. In addition, the update to the ECL model implemented during the first quarter has increased the level of credit loss provisions more than anticipated. Furthermore, fee and commission income is expected to grow more slowly than anticipated in the prevailing economic environment. OmaSp estimates that the Group’s comparable profit before taxes is EUR 50-65 million for the financial year 2025.

    New business outlook and earnings guidance for 2025 are as follows (updated 15 June 2025):

    The outlook for the Company’s business for the financial year 2025 is affected by the decline in market interest rates and the continued high level of costs due to IT investments and system improvements required by risk management and quality processes. In addition, the Company continues to invest in customer experience on different channels. The uncertainty of the operating environment and economic situation affects the development of balance sheet items and comparable profit for the financial year 2025.

    Oma Savings Bank Plc provides earnings guidance on comparable profit before taxes for 2025. Earnings guidance is based on the forecast for the entire year, which takes into account the current market and business situation. Forecasts are based on the management’s insight into the Group’s business development.

    We estimate the Group’s comparable profit before taxes to be EUR 50–65 million for the financial year 2025 (comparable profit before taxes was EUR 86.7 million in the financial year 2024).

    Previous business outlook and earnings guidance (published 5 May 2025):

    The outlook for the Company’s business for the financial year 2025 is affected by the decline in market interest rates and the continued high level of costs due to IT investments and system improvements required by risk management and quality processes. In addition, the Company continues to invest in customer experience on different channels. The uncertainty of the operating environment and economic situation affects the development of balance sheet items and comparable profit for the financial year 2025.

    Oma Savings Bank Plc provides earnings guidance on comparable profit before taxes for 2025. Earnings guidance is based on the forecast for the entire year, which takes into account the current market and business situation. Forecasts are based on the management’s insight into the Group’s business development.

    We estimate the Group’s comparable profit before taxes to be EUR 65–80 million for the financial year 2025, with a clarification that the figure is expected to be below the mid-point of the range (comparable profit before taxes was EUR 86.7 million in the financial year 2024).

    Oma Savings Bank Plc

    Additional information:
    Karri Alameri, CEO, tel. +358 45 656 5250, karri.alameri@omasp.fi
    Sarianna Liiri, CFO, tel. +358 40 835 6712, sarianna.liiri@omasp.fi

    DISTRIBUTION: 
    Nasdaq Helsinki Ltd
    Major media
    www.omasp.fi

    OmaSp is a solvent and profitable Finnish bank. About 600 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

    OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

    The MIL Network

  • MIL-OSI: XRP News: Is XRP Set To Lose Market Share To The Crypto Analysts Are Calling XRP 2.0?

    Source: GlobeNewswire (MIL-OSI)

    New York, June 15, 2025 (GLOBE NEWSWIRE) — XRP cannot seem to stay out of the news, but for once, the XRP news may be good. The beleaguered coin needs some good news, and judging by the XRP news headlines, it is. But there may be bigger issues ahead for XRP. A new player in town is already delivering on promises XRP has been making for more than a decade. Remittix may just spoil XRP’s fun and give investors a token with much more room to grow to invest in.

    XRP (XRP): Headlines for XRP news bullish, but is it enough?

    In XRP news this year, Ripple pulled the trigger on one of its boldest plays yet acquiring institutional brokerage Hidden Road for $1.25 billion. That’s not a headline stunt. It’s a serious move to bring post-trade services clearing, settlement and brokerage onto the XRP Ledger itself. For a project that’s always talked about global finance, this finally feels like the architecture is catching up to the ambition. It gives Ripple the tools to offer banks and funds something real and puts XRP back in the conversation as more than just a cross-border token.

    Meanwhile, the bigger-picture XRP news is what Brad Garlinghouse is aiming for: 14% of SWIFT’s global liquidity. That’s not just marketing spin, it’s a direct challenge to how money moves internationally. SWIFT is still slow, expensive and clunky. If Ripple can undercut that with speed and scale, XRP could be handling trillions in volume within a few years. It’s bold, but Ripple’s been quietly laying the rails for over a decade.

    The XRP price has been up just over 2% in the last 7 days, but it is still in red on the 30-day candle. Hopefully, its latest moves could bolster the price, but with players like Remittix doing the rounds, XRP could be in trouble.

    Source: CoinCodex

    Even CoinCodex’s price prediction for Ripple does not make great XRP news as the token is expected to become more volatile and erratic until the close of the decade; a trading pattern investors do not like.

    Source: CoinCodex

    Remittix (RTX): Can the new PayFi token be XRP 2.0?

    Remittix doesn’t have Ripple’s war chest or legacy clout, but what it does have is traction and in 2025, that’s proving more valuable than brand recognition. While XRP is still laying down infrastructure, Remittix is already moving money across borders. The platform focuses squarely on crypto-to-fiat remittances, allowing users and businesses to send crypto and have it land as local fiat, straight into a bank account. No fuss, no waiting, no wallet setup required on the other side.

    It’s not just practical, it’s compliant, fast and built for scale. With support for over 30 fiat currencies and 40 crypto assets, Remittix isn’t pitching the dream. It’s already shipping it. Investors are paying attention, too. A $15.5 million raise in its presale phase has given it room to grow, while whispers in analyst circles are calling it “XRP 2.0” not because it’s copying Ripple, but because it’s quietly delivering the kind of real-world utility XRP has been promising for over a decade.

    If 2025 is about function over flash, Remittix may be the one to watch. It’s not trying to win a branding war, it’s trying to fix a broken payment system. And so far, it looks like it’s working.

    Conclusion

    While the crypto headlines are dominated by XRP news, the real star of the show is Remittix, delivering on the dreams Ripple Labs had more than a decade ago. With the XRP price stalling, Remittix could just be the token to pick up the slack. Even YouTube crypto vloggers are now starting to pick up on the action and with 540 million tokens already sold, Remittix is making its name as the go-to investment of the year.

    Remittix is now available at $0.0781 directly from their website.

    Discover the future of PayFi with Remittix by checking out their presale here:

    Website: https://remittix.io

    Socials: https://linktr.ee/remittix

    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.

    The MIL Network

  • MIL-OSI: HAPPY FATHER’S DAY and $HAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger: OPOF, PRA, SWTX and FLS

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 15, 2025 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

    • Old Point Financial Corporation (NASDAQ: OPOF), relating to the proposed merger with TowneBank. Under the terms of the agreement, shareholders of Old Point will elect to receive $41.00 in cash or 1.1400 shares of TowneBank common stock for each share of Old Point outstanding common stock.

    ACT NOW. The Shareholder Vote is scheduled for July 2, 2025.
            
    Click here for more https://monteverdelaw.com/case/old-point-financial-corporation-opof/. It is free and there is no cost or obligation to you.

    • ProAssurance Corporation (NYSE: PRA), relating to the proposed merger with The Doctors Company. Under the terms of the agreement, ProAssurance stockholders will receive $25.00 per share in cash.

    ACT NOW. The Shareholder Vote is scheduled for June 24, 2025.

    Click here for more https://monteverdelaw.com/case/proassurance-corporation-pra/. It is free and there is no cost or obligation to you.

    • SpringWorks Therapeutics, Inc. (NASDAQ: SWTX), relating to the proposed merger with Merck KGaA, Darmstadt, Germany. Under the terms of the agreement, SpringWorks shareholders will have the right to receive $47.00 in cash per share of SpringWorks stock held.

    ACT NOW. The Shareholder Vote is scheduled for June 26, 2025.

    Click here for more https://monteverdelaw.com/case/springworks-therapeutics-inc-swtx/. It is free and there is no cost or obligation to you.

    • Flowserve Corporation (NYSE: FLS) related to its merger with Chart Industries, Inc. Upon completion of the proposed transaction, Flowserve shareholders will own approximately 46.5% of the combined company.

    Click here for more info https://monteverdelaw.com/case/flowserve-corporation/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network

  • MIL-OSI United Kingdom: Joint statement between the Prime Minister of the United Kingdom and the Prime Minister of Canada

    Source: United Kingdom – Government Statements

    Press release

    Joint statement between the Prime Minister of the United Kingdom and the Prime Minister of Canada

    This Joint Statement follows the meeting of the Prime Ministers of the United Kingdom and Canada on 15 June 2025.

    Today, Sir Keir Starmer, Prime Minister of the United Kingdom (UK) and Mark Carney, Prime Minister of Canada met in Ottawa to reaffirm the profound friendship and shared values that unite both nations. The Canada-UK partnership, rooted in a common history and enduring people-to-people ties, continues to grow stronger, with a focus on delivering prosperity and security for the working people of Canada and the UK alike.

    The two leaders discussed the many geopolitical challenges currently facing the world, including in the Middle East and tensions in the Indo-Pacific region, and reaffirmed their steadfast support for Ukraine in the face of Russia’s illegal and unjustifiable war of aggression.

    The two leaders underscored the importance of a fair, open and predictable global trading system; reiterated their commitment to a rules-based international order underpinned by respect for sovereignty and territorial integrity; and committed to advancing peace and trans-Atlantic security. They agreed the following joint initiatives aimed at strengthening economic growth and prosperity and enhancing collective security and defence:

    Growth and Innovation Partnership

    Canada and the UK are committed to delivering economic growth for their people. The two Prime Ministers today announced further collaboration on trade, science, technology and innovation. Through their Partnership, Canada and the UK will work together to:

    • Trade: Strengthen trade ties as trusted, reliable partners. This will include expanding trade under the Canada-UK Trade Continuity Agreement. We will establish a new structured UK-Canada Economic and Trade Working Group to deepen our existing trading relationship further, including to address existing market access barriers, to expand existing arrangements into new areas, such as digital trade, and to explore cooperation in the development of critical minerals and sovereign artificial intelligence infrastructure. The working group will report back to both Prime Ministers within six months. Canada will seek to introduce legislation this autumn to ratify the UK’s accession to the Comprehensive and Progressive Trans-Pacific Partnership.

    • Semiconductors: Deliver industrial R&D projects to enhance both nations’ complementary strengths in semiconductors, photonics, emerging materials and chip design. They will deepen connections between the innovation rich semiconductor ecosystems in Canada and the UK to help build resilient supply chains and accelerate breakthroughs in this key sector that is driving economic growth.

    • Quantum: Announce a joint commitment to develop secure, transatlantic communications based on quantum technologies, allowing us to connect our national systems and lay the groundwork to create a truly global, next-generation network, with applications across our financial and telecoms sectors.

    • Digital: Mutually reinforce nation-building digital public infrastructure by co-developing policy levers and standards, and common technology components.

    • Artificial Intelligence: Deepen and explore new collaborations on frontier AI systems to support our national security. This will include a partnership agreement to strengthen existing collaboration on AI safety and security between the Canadian AI Safety Institute and UK AI Security Institute, and new Canadian and UK MOUs with leading Canadian AI firm Cohere. Under the Canadian MOU, Cohere will collaborate with the Canadian AI Safety Institute and develop their commitment to building cutting-edge data centres in Canada. Under the UK MOU, Cohere will expand their UK presence to support the delivery of the UK AI Opportunities Action Plan. Both MOUs reflect ongoing collaboration on the application of AI tools in security and intelligence and are rooted in Cohere’s strong foundations in Canada and ongoing commitment to the UK.

    • Biomanufacturing: Strengthen collaboration to deliver economic growth and be better prepared for future health emergencies, including a joint investment of $14.8 million to support joint biomanufacturing research and development that will grow the talent and skills pipeline in both countries, and to help businesses scale.

    • Civil Nuclear: Develop a world-leading fusion energy collaboration and deepen cooperation on nuclear energy from fission to reduce the influence of Russia on our international fuel supply chains.

    • Critical Minerals: Intensify bilateral cooperation by conducting a strategic mapping exercise to pinpoint key critical minerals, infrastructure, production and processing capacities. They will identify projects for joint investment to support secure and sustainable critical minerals supply chain development and  leverage all available financial tools to mobilize funding and drive production to strengthen our manufacturing and mining sectors.

    Enhanced Defence and Security Partnership

    The two leaders agreed to strengthen cooperation – both bilaterally and through the NATO Alliance and Five Eyes partnership – to safeguard democratic values advance global stability and ensure the safety of our people in an increasingly complex world. To achieve this, they committed to:

    • Ukraine: Further support Ukraine in its self-defence against Russia’s war of aggression. This will include continued support for the Coalition of the Willing and respective efforts to support Ukraine’s domestic defence industrial production. The UK and Canada will continue to work together to support the Air Force Capability Coalition and develop cutting edge aircraft weaponry technology in support of Ukraine.

    • Military Cooperation: Position the Canada-UK defence relationship for further growth across military operations, industrial collaboration, and defence innovation, catalyzed by Canada’s newly announced defence investment trajectory and the UK’s Strategic Defence Review. Canada and the UK will work towards a new permanent arrangement for the long-term and sustainable use of British Army Training Unit Suffield (BATUS) through the “BATUS Future Project”. The Project will deepen the Canada-UK relationship on defence and showcase CFB Suffield as a multi-purpose facility for the development and testing of new equipment and cutting-edge technology which are vital to maintaining our shared security and prosperity.

    • Intelligence: Build on the long history of deep and productive collaboration between our security and intelligence organizations by launching coordinated operational campaigns to combat terrorism and violent extremism, and deepening collaboration on enhanced intelligence collection, including by expanding officer exchange programs.

    • National Security: Tackle evolving state threats together, including sabotage, transnational repression, foreign interference, malicious cyber activity, information manipulation and economic coercion, all of which seeks to undermine our national security and that of our Allies and partners. This will include joint work to invest in civil society organizations actively working to counter digital transnational repression through the Joint Canada-UK Common Good Cyber Fund, a first-of-its-kind multilateral fund aimed at supporting civil society actors at high risk. To kickstart this fund, Canada and the UK are providing $5.7 million in seed funding to the Fund, which will be disbursed over 5 years. They also agreed to strengthen bilateral development and delivery of secure communications products and cutting-edge cryptography and explore new research partnerships to address gaps in AI security and evolve AI models to support national security.

    • Border Security: Strengthen bilateral cooperation to tackle transnational organized criminal organizations engaged in the illicit movement of goods and narcotics, and bolster our response to combat irregular migration, migrant smuggling and human trafficking, including through deeper bilateral information and knowledge exchange.

    Updates to this page

    Published 15 June 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: PM meeting with Prime Minister Carney of Canada: 15 June 2025

    Source: United Kingdom – Government Statements

    Press release

    PM meeting with Prime Minister Carney of Canada: 15 June 2025

    The Prime Minister met the Canadian Prime Minister Mark Carney in Ottawa this afternoon.

    The Prime Minister met the Canadian Prime Minister Mark Carney in Ottawa this afternoon.

    They began by discussing the grave situation in the Middle East, agreeing that the upcoming G7 Summit presented an opportunity to come together with partners in pursuit of de-escalation. 

    Turning to the UK-Canada relationship – they had a warm and productive conversation, agreeing that as two like-minded leaders there is huge potential to drive forward our partnership for the benefit of British and Canadian people. 

    Prime Minister Carney confirmed that Canada would ratify the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), seeking to introduce legislation to their parliament in the autumn. This will bring huge benefits to UK businesses by lowering tariffs when buying from and selling to Canada. 

    They also agreed to set up a joint taskforce to turbocharge progress on other areas of mutual benefit, including technology and artificial intelligence – in support of shared growth and our national security. The taskforce will also look to make progress on the wider UK-Canada Free Trade Agreement. 

    The Prime Minister said that the world has changed when it comes to trade and the economy, so he wants teams to go as far and as fast as possible, because it is in all of our interests to lower trade barriers with our closest partners.

    Moving on to defence and security, the leaders agreed that there is no doubt that everyone needs to step up at such a volatile time for the world. The Prime Minister reiterated that all NATO allies must come together to advance our collective security in the coming years. 

    They ended on their enduring support for Ukraine, and Prime Minister Carney thanked the Prime Minister for his invaluable leadership on the Coalition of the Willing. 

    They looked forward to discussing this further at the G7 Summit in the coming days.

    Updates to this page

    Published 15 June 2025

    MIL OSI United Kingdom

  • MIL-OSI Canada: Joint Statement by Prime Minister Carney and Prime Minister Starmer

    Source: Government of Canada – Prime Minister

    Today, Mark Carney, Prime Minister of Canada, and Sir Keir Starmer, Prime Minister of the United Kingdom (UK), met in Ottawa to reaffirm the profound friendship and shared values that unite both nations. The Canada-UK partnership, rooted in a common history and enduring people-to-people ties, continues to grow stronger, with a focus on delivering prosperity and security for the working people of Canada and the UK alike.

    The two leaders discussed the many geopolitical challenges currently facing the world, including in the Middle East and tensions in the Indo-Pacific region, and reaffirmed their steadfast support for Ukraine in the face of Russia’s illegal and unjustifiable war of aggression.

    The two leaders underscored the importance of a fair, open and predictable global trading system; reiterated their commitment to a rules-based international order underpinned by respect for sovereignty and territorial integrity; and committed to advancing peace and trans-Atlantic security. They agreed the following joint initiatives aimed at strengthening economic growth and prosperity and enhancing collective security and defence:

    Growth and Innovation Partnership

    Canada and the UK are committed to delivering economic growth for their people. The two Prime Ministers today announced further collaboration on trade, science, technology and innovation. Through their Partnership, Canada and the UK will work together to:

    • Trade: Strengthen trade ties as trusted, reliable partners. This will include expanding trade under the Canada-UK Trade Continuity Agreement. We will establish a new structured UK-Canada Economic and Trade Working Group to deepen our existing trading relationship further, including to address existing market access barriers, to expand existing arrangements into new areas, such as digital trade, and to explore cooperation in the development of critical minerals and sovereign artificial intelligence infrastructure. The working group will report back to both Prime Ministers within six months. Canada will seek to introduce legislation this autumn to ratify the UK’s accession to the Comprehensive and Progressive Trans-Pacific Partnership.
    • Semiconductors: Deliver industrial R&D projects to enhance both nations’ complementary strengths in semiconductors, photonics, emerging materials and chip design. They will deepen connections between the innovation rich semiconductor ecosystems in Canada and the UK to help build resilient supply chains and accelerate breakthroughs in this key sector that is driving economic growth.
    • Quantum: Announce a joint commitment to develop secure, transatlantic communications based on quantum technologies, allowing us to connect our national systems and lay the groundwork to create a truly global, next-generation network, with applications across our financial and telecoms sectors.
    • Digital: Mutually reinforce nation-building digital public infrastructure by co-developing policy levers and standards, and common technology components.
    • Artificial Intelligence: Deepen and explore new collaborations on frontier AI systems to support our national security. This will include a partnership agreement to strengthen existing collaboration on AI safety and security between the Canadian AI Safety Institute and UK AI Security Institute, and new Canadian and UK MOUs with leading Canadian AI firm Cohere. Under the Canadian MOU, Cohere will collaborate with the Canadian AI Safety Institute and develop their commitment to building cutting-edge data centres in Canada. Under the UK MOU, Cohere will expand their UK presence to support the delivery of the UK AI Opportunities Action Plan. Both MOUs reflect ongoing collaboration on the application of AI tools in security and intelligence and are rooted in Cohere’s strong foundations in Canada and ongoing commitment to the UK.
    • Biomanufacturing: Strengthen collaboration to deliver economic growth and be better prepared for future health emergencies, including a joint investment of $14.8 million to support joint biomanufacturing research and development that will grow the talent and skills pipeline in both countries, and to help businesses scale.
    • Civil Nuclear: Develop a world-leading fusion energy collaboration and deepen cooperation on nuclear energy from fission to reduce the influence of Russia on our international fuel supply chains.
    • Critical Minerals: Intensify bilateral cooperation by conducting a strategic mapping exercise to pinpoint key critical minerals, infrastructure, production and processing capacities. They will identify projects for joint investment to support secure and sustainable critical minerals supply chain development and  leverage all available financial tools to mobilize funding and drive production to strengthen our manufacturing and mining sectors.

    Enhanced Defence and Security Partnership

    The two leaders agreed to strengthen cooperation – both bilaterally and through the NATO Alliance and Five Eyes partnership – to safeguard democratic values advance global stability and ensure the safety of our people in an increasingly complex world. To achieve this, they committed to:

    • Ukraine: Further support Ukraine in its self-defence against Russia’s war of aggression. This will include continued support for the Coalition of the Willing and respective efforts to support Ukraine’s domestic defence industrial production. The UK and Canada will continue to work together to support the Air Force Capability Coalition and develop cutting edge aircraft weaponry technology in support of Ukraine.
    • Military Cooperation: Position the Canada-UK defence relationship for further growth across military operations, industrial collaboration, and defence innovation, catalyzed by Canada’s newly announced defence investment trajectory and the UK’s Strategic Defence Review. Canada and the UK will work towards a new permanent arrangement for the long-term and sustainable use of British Army Training Unit Suffield (BATUS) through the “BATUS Future Project”. The Project will deepen the Canada-UK relationship on defence and showcase CFB Suffield as a multi-purpose facility for the development and testing of new equipment and cutting-edge technology which are vital to maintaining our shared security and prosperity.
    • Intelligence: Build on the long history of deep and productive collaboration between our security and intelligence organizations by launching coordinated operational campaigns to combat terrorism and violent extremism, and deepening collaboration on enhanced intelligence collection, including by expanding officer exchange programs.
    • National Security: Tackle evolving state threats together, including sabotage, transnational repression, foreign interference, malicious cyber activity, information manipulation and economic coercion, all of which seeks to undermine our national security and that of our Allies and partners. This will include joint work to invest in civil society organizations actively working to counter digital transnational repression through the Joint Canada-UK Common Good Cyber Fund, a first-of-its-kind multilateral fund aimed at supporting civil society actors at high risk. To kickstart this fund, Canada and the UK are providing $5.7 million in seed funding to the Fund, which will be disbursed over 5 years. They also agreed to strengthen bilateral development and delivery of secure communications products and cutting-edge cryptography and explore new research partnerships to address gaps in AI security and evolve AI models to support national security.
    • Border Security: Strengthen bilateral cooperation to tackle transnational organized criminal organizations engaged in the illicit movement of goods and narcotics, and bolster our response to combat irregular migration, migrant smuggling and human trafficking, including through deeper bilateral information and knowledge exchange.

    MIL OSI Canada News

  • MIL-OSI Russia: Exclusive: Belt and Road Initiative Strengthens Academic, Cultural and Humanitarian Exchanges between China and Kazakhstan – KIMEP University President

    Translation. Region: Russian Federal

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

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

    ASTANA, June 15 (Xinhua) — The Belt and Road Initiative has strengthened academic and cultural exchanges between China and Kazakhstan, laying a solid foundation for deeper regional cooperation, Chang Yong-pan, president of the Kazakhstan Institute of Management, Economics and Strategic Research (KIMEP), told Xinhua in an exclusive interview.

    “The Belt and Road Initiative promotes Kazakhstan’s economic development and regional integration. At the same time, the prospects for Chinese-Kazakh exchanges look promising,” he noted.

    Over the past decade, KIMEP has hosted delegations from more than 100 universities in China. In 2018, the university established a joint research center with Beijing Normal University to promote academic dialogue.

    “Since KIMEP’s founding, we have educated 159 Chinese students. We are proud of our role in strengthening ties with China,” Chang Yong Pan emphasized.

    According to him, academic exchanges are developing thanks to high-level cooperation. In 2024, more than 15 thousand Kazakh students studied at Chinese universities.

    The KIMEP President recalled that after the introduction of a visa-free regime at the end of 2023, the flow of tourists from China to Kazakhstan increased by 66 percent, and the number of Kazakhstani tourists in China increased by 31 percent.

    “The arrival of the first tourist train from Xi’an to Almaty in June was an important milestone. I am optimistic about the prospects for cultural and humanitarian cooperation,” he said.

    Chang Yong-ban noted that he has high hopes for the 2nd China-Central Asia Summit, which will be held in Astana. According to the Xinhua source, the 2023 summit in the Chinese city of Xi’an has yielded significant results, and further cooperation should focus on finance, green development, healthcare and digital innovation.

    “The successful model in Central Asia can serve as a model for other regions. Maintaining peace and prosperity here can be an example for the entire world,” he added. –0–

    MIL OSI Russia News

  • MIL-OSI Africa: SA completes actions to exit greylist

    Source: South Africa News Agency

    The Financial Action Task Force (FATF) has confirmed that South Africa has substantially completed all 22 recommended action items outlined in the Action Plan adopted when the country was placed on the organisation’s grey list in February 2023.

    South Africa was placed on the FATF grey list due to deficiencies in its anti-money laundering and counter-terrorism financing (AML/CFT) regime.

    During its plenary session held in Strasbourg, France, the FATF made the initial determination that South Africa has substantially completed its action plan and warrants an on-site assessment. The on-site assessment will be to verify that the implementation of AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation in the future. 

    According to the National Treasury, the completion of the Action Plan paves the way for the final step before the FATF can delist South Africa, which is an on-site visit to South Africa by the FATF Africa Joint Group (JG).

    A statement by FATF on (Jurisdictions under Increased Monitoring – 13 June 2025) noted that South Africa has undertaken a range of key reforms, including demonstrating a sustained increase in investigations and prosecutions of serious and complex money laundering and the full range of [terror financing] TF activities in line with its risk profile; and updating its TF Risk Assessment to inform the implementation of a comprehensive national counter financing of terrorism strategy.

    The National Treasury emphasised that the improvements to South Africa’s AML/CFT regime are particularly important for South Africa, given the legacy of state capture, one element of which was that law enforcement and prosecuting institutions were deliberately weakened. 

    “Improvements in these domains are critical not just for getting off the greylist, but for strengthening the fight against crime and corruption, and for contributing to the integrity of the South African financial system. Exiting the FATF greylist is a significant step forward as South Africa continues to improve and strengthen its supervisory and criminal justice systems,” National Treasury said on Friday.

    The on-site visit will take place before the next FATF Plenary, and, if the outcome of the visit is positive, the FATF will delist South Africa from the greylist at its next Plenary in October 2025. Preparations for the on-site visit have commenced.

    During this visit, the JG will confirm the country’s ongoing commitment in the implementation of the country’s fight against money laundering, terror financing and other financial crimes.

    “National Treasury commends the efforts and commitment of the law enforcement entities, especially the Directorate for Priority Crime Investigation (DPCI) of the South African Police Service, the State Security Agency, and the National Prosecuting Authority (NPA), for the sustained increase in investigations and prosecutions of serious and complex money laundering and terror financing activities. 

    “This made it possible for South Africa to secure the upgrades of the last two remaining action items, often considered to be the most difficult, in the current reporting cycle,” National Treasury said.

    South Africa also commended Mali and Tanzania, who were delisted from greylisting by the FATF Plenary. 

    “We also congratulate Nigeria, Mozambique and Burkina Faso, who like South Africa, were deemed to have substantially completed their action plans, and for whom on-site assessments were also approved.

    “National Treasury pays tribute to the late Advocate Rodney de Kock of the NPA, who played a leading role in preparing the groundwork for South Africa to address the action items, but sadly passed away in January 2025.” 

    The South African Reserve Bank (SARC) has welcomed the confirmation by the Financial Action Task Force’s (FATF) that South Africa has completed all 22 of its action items.

    “This is a significant step forward – but not the time for complacency,” the SARB said on Saturday.-SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI Global: Canadian international relations experts share their views on global politics and Canada’s role

    Source: The Conversation – Canada – By Anessa L. Kimball, Professor of Political Science; Director, Centre for International Security, ESEI, Université Laval

    A survey of Canadian international relations professors has found they disagree on how to respond to potential Chinese aggression against Taiwan and which global regions will matter most to Canada in the future.

    For the past 20 years, the Teaching, Research and International Policy (TRIP) survey has asked university professors about how they teach international relations and what they think about global affairs. Originally based in the United States, the survey expanded to Canada in 2006 and is now conducted regularly in many countries.

    The Canadian faculty survey was conducted from March 5 to July 12, 2024. Of the 109 who participated, most held permanent academic positions, including 22 full professors, 31 associate professors and six emeritus professors.

    Participants were asked to agree or disagree with statements about global politics. Seventy-five experts agreed that states are the main players in global politics, but there was less agreement on the importance of domestic politics.

    Most felt that international institutions help bring order to the chaotic global system. However, whether globalization has made people better off — even if there are some losers — divided experts, with 21 believing no one is better off due to globalization while two-thirds believed the opposite.

    Major themes

    When it came to more critical or less mainstream ideas — such as whether major international relations theories are rooted in racist assumptions — opinions were split.

    More than 50 agreed, but more than a third disagreed, and many gave neutral responses. Disagreement over the role of racism in shaping world politics highlights the difficulty of decolonizing international relations and incorporating post-colonial perspectives — particularly when trying to understand complex “failed cases” like United Nations peacekeeping efforts in Haiti.




    Read more:
    For Haitian migrants in the Dominican Republic, ‘reproduction is like a death sentence’


    Professors were also asked where they get their international news. Most rely on major newspapers, international media and internet sources.

    When asked which world region is strategically most important for Canada today, nearly half — or 43 of 97 experts opting to respond to the question — chose North America (excluding Mexico); in other words, the United States. Sixteen selected the Arctic and another 16 chose East Asia.

    Very few picked regions like the Middle East, Europe or Russia. Looking ahead 20 years, 10 experts shifted their answer from North America to the Arctic.

    Views on China and Taiwan, and Justin Trudeau

    Experts were asked what Canada should do if China attacks Taiwan. Most supported non-military responses: 72 supported sanctions and 69 supported taking in refugees.

    About half supported sending weapons or banning Chinese goods. Fewer supported cyberattacks (18), sending troops (15) or a no-fly zone (14).

    Surprisingly, six said Canada should launch military action against China.

    Justin Trudeau was prime minister when the survey was conducted. When asked about his performance, 50 per cent rated him poorly or very poorly, 30 per cent were neutral and only a small minority rated him positively.

    Key takeaways

    Canadian international relations professors don’t always agree, but a few trends stand out.

    Despite recent government focus on the Arctic in terms of its Our North, Strong and Free policy, many professors still view the U.S. as Canada’s most important strategic region. East Asia drew some attention, but few see it growing in importance.

    With a new government under Prime Minister Mark Carney, there may be opportunities to improve on areas where Trudeau was seen as weak by respondents to the survey.

    For example, despite having developed a strategy for the Indo-Pacific region, vital Canadian trade and maritime security interests were minimized by the previous Liberal government. Carney could therefore contemplate expanding Canada’s maritime assets, improving its artificial intelligence and cybersecurity capacity and investing in digital infrastructure and quantum computing.




    Read more:
    Defence policy update focuses on quantum technology’s role in making Canada safe


    Carney had pledged to fulfil Canada’s commitment to NATO’s target of two per cent of GDP spent on defence, saying Canada will meet the threshold by the end of 2025.

    However, Canada will still lag behind. NATO is calling on allies to invest five per cent of GDP in defence, comprising 3.5 per cent on core defence spending as well as 1.5 per cent of GDP per year on defence and security-related investment, including in infrastructure and resilience.

    Canada’s 2024 GDP was $2.515 trillion, which means a five per cent defence investment of nearly $125 billion annually would have accounted for more than a quarter of a federal budget (which was under $450 billion in 2024-2025).

    Canada, a founding NATO member, leads a multinational brigade in Latvia and supports Ukraine in other ways.

    Ukraine seems on an irreversible path towards NATO membership. Though 69 per cent of respondents supported NATO membership for Ukraine, only 44 per cent felt it was likely. Though the U.S. tariff crisis attracts attention, some experts are increasingly looking to the Arctic to understand Canada’s strategic interests — a trend sure to be reflected in future surveys of Canadian international relations experts.

    Anessa L. Kimball does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Canadian international relations experts share their views on global politics and Canada’s role – https://theconversation.com/canadian-international-relations-experts-share-their-views-on-global-politics-and-canadas-role-257949

    MIL OSI – Global Reports

  • MIL-OSI Global: The politics of blame: Accusing immigrants won’t solve Germany’s antisemitism problem

    Source: The Conversation – Canada – By Oliver Schmidtke, Professor, Director of the Centre for Global Studies, University of Victoria

    In response to a report on the virulence of antisemitism in Germany, Chancellor Friedrich Merz recently cast the blame on attitudes held by immigrants.

    Merz stated in a Fox News interview that Germany has “imported antisemitism with the big numbers of migrants we have within the last 10 years.”

    Merz is pointing to a real and pressing issue. Yet his emphasis on so-called “imported antisemitism” serves as a convenient diversion from Germany’s persistent failure to confront home-grown antisemitism.

    His remarks also risk emboldening those who weaponize antisemitism as a rhetorical tool to fuel anti-immigrant sentiments.

    Antisemitism in Germany

    Antisemitic incidents in Germany have been on the rise since the Oct. 7, 2023 attack on Israel by Hamas and the subsequent war in Gaza.

    According to a survey by the Research and Information Centre on Antisemitism (RIAS), antisemitic occurrences rose by more than 80 per cent in 2023. That year, 4,782 occurrences were documented, the highest number since the organization began tracking such cases in 2017.

    However, RIAS’s most recent report found that the primary motive behind antisemitic crimes remained right-wing extremist ideology (48 per cent). It also noted that, since 2023, there has been a marked increase in incidents attributed to “foreign ideology.” These are understood as originating outside Germany and often linked to Islamist or anti-Israel sentiments, which accounted for 31 per cent of cases in 2024.

    It should be noted that RIAS’s approach to classifying antisemitism has been subject to controversy, especially with regard to its treatment of criticism of or protest against the Israeli government’s actions.

    The ‘imported antisemitism’ narrative

    A recent survey of antisemitic attitudes among immigrants in Germany found that such attitudes are more prevalent among Muslim respondents compared to their Christian or religiously unaffiliated counterparts. The study revealed particularly high levels of antisemitism among individuals from the Middle East and North Africa.

    Approximately 35 per cent of Muslim respondents — especially those with strong religious convictions and lower levels of formal education — “strongly agreed with classical antisemitic statements.” These statements reflect classical antisemitic tropes, such as attributing too much influence over politics or finance to Jews, accusing Jews of driving the world into disaster or relativizing the Holocaust.

    At the same time, there is evidence that immigrants successfully integrating into German society is associated with lower levels of antisemitism.

    Yet blaming a rise in antisemitism on “imported” attitudes or “foreign ideologies” signals a crude simplification. Antisemitism has remained prevalent in German society even after the Second World War, and political movements or leaders can easily mobilize it.

    Although Holocaust education is mandatory in German schools, knowledge about the Shoah and the legacy of antisemitism remains limited among younger generations. A recent study by the Jewish Claims Conference found that among Germans aged 18 to 29, around 40 per cent were not aware that approximately six million Jews were killed by the Nazis and their collaborators.

    According to a 2023 MEMO survey, more than 50 per cent of 14- to 16-year-old students in Germany did not know what Auschwitz was.

    Blaming immigrants for challenges in Germany’s memory culture oversimplifies a deeper issue: the growing difficulty of making the country’s dominant remembrance — centred on the horrors of the Nazi dictatorship and the Holocaust — politically meaningful and emotionally resonant for younger generations.

    For many young Germans, the memory of the Holocaust feels increasingly remote, lacking the emotional immediacy that vanishing eyewitnesses once provided.

    This problem is further exacerbated by the absence of innovative, impactful teaching capable of conveying the continued relevance of Holocaust memory and its political message.

    In a 2023 article, American journalist Masha Gessen highlighted how Holocaust remembrance in Germany was becoming an elite-driven ritual, one that risks preventing a meaningful connection between its moral imperatives and today’s political realities.

    The threat from Alternative for Germany

    At the same time, the rise of the far-right Alternative for Germany (AfD) party poses a direct threat to Germany’s culture of remembrance.

    The AfD has made it a central objective to challenge the primacy of Holocaust memory, calling for a U-turn in Germany’s remembrance culture.

    Leading party members have labelled Holocaust memorials “monuments of shame,” reflecting the party’s broader effort to promote nationalist reinterpretations of history.

    Furthermore, the AfD’s staunchly anti-immigrant stance exposes a fundamental flaw in the imported antisemitism narrative. Across Europe, populist right-wing movements have increasingly mobilized anti-Muslim rhetoric under the banner of defending so-called “Judeo-Christian values,” even as they simultaneously draw on classic antisemitic tropes targeting “globalist elites” and conspiratorial power structures.

    This use of Jewish identity as a rhetorical weapon against Islam, while perpetuating antisemitism in other forms, reveals the deep contradictions and opportunism underlying imported antisemitism claims.

    Blaming Muslim immigrants for the rise of antisemitism offers German political leaders a convenient excuse for their own failure to confront entrenched antisemitic beliefs within German society.

    In addition, Holocaust remembrance can sometimes exclude immigrants. For example, Germany recently added questions about the Holocaust and Nazi crimes to its citizenship test, committing newcomers to its memory culture.

    Research shows this kind of policy can have unintended effects. It can make immigrants feel excluded if they are seen as not fully sharing in “our” nation and “our” history. Given the universalist values it is meant to embody, the commemoration of the Holocaust can also serve to alienate immigrants from full cultural citizenship.

    Framing antisemitism primarily as an imported problem risks strengthening those forces that actively seek to undermine and ignore Germany’s confrontation with its Nazi past.

    Instead, what is needed is a more nuanced approach, one that bridges the divide between antiracist and anti-antisemitism efforts, and aligns more faithfully with the moral and political commitments that this collective memory is meant to uphold.

    Oliver Schmidtke receives funding from the Social Sciences and Humanities Research Council of Canada.

    ref. The politics of blame: Accusing immigrants won’t solve Germany’s antisemitism problem – https://theconversation.com/the-politics-of-blame-accusing-immigrants-wont-solve-germanys-antisemitism-problem-258705

    MIL OSI – Global Reports