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Category: Economy

  • MIL-OSI Africa: SASSA CEO pledges support to families affected by floods in OR Tambo District

    Source: South Africa News Agency

    Thursday, June 12, 2025

    The South African Social Security Agency (SASSA) Chief Executive Officer, Themba Matlou, has pledged maximum support to the families affected by the devastating floods that have wreaked havoc and claimed 57 lives in the OR Tambo District, Eastern Cape. 

    In a statement on Thursday, the agency said it has acted swiftly, through its Social Relief of Distress programme, to assist families whose homes were severely affected during the floods. 

    “To this end, SASSA is active at three established sites, where about 229 people are served with three nutritious meals a day, reinforcing the agency’s commitment to immediate food security. In addition, 229 vanity packs and five baby packs have been procured and distributed to meet essential personal and infant care needs,” SASSA said. 

    In anticipation of the transition phase, SASSA has developed a Disengagement Plan aimed at equipping beneficiaries with basic resources to support reintegration and restore stability. This package will include:

    • Two-ply blankets.
    • One mattress per individual.
    • Cash vouchers to address short-term financial needs.
    • School uniforms for affected learners, promoting educational continuity.

    Recognising the profound impact of loss on families, SASSA will provide two vouchers in support of the grieving families with immediate needs.

    Matlou said SASSA has a mandate, derived from the Social Assistance Act, to offer assistance to the affected families. 

    “Social Relief of Distress is temporary provision of assistance intended for persons in such a dire material need that they are unable to meet their families’ most basic needs. We also wish to offer our utmost condolences to the families of the deceased and wish a speedy recovery to those who are injured. 

    “We are working very closely with all the relevant stakeholders in the social cluster of the province to ensure that maximum support is given to the distressed families. We extend our gratitude to all stakeholders, partners, and community members, who continue to support this vital work,” Matlou said. – SAnews.gov.za 

    MIL OSI Africa –

  • MIL-OSI New Zealand: 2025 in-year additional funding requests

    Source: Tertiary Education Commission

    Last updated 11 June 2025
    Last updated 11 June 2025

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    This page outlines our approach to 2025 in-year additional funding requests (AFRs).
    This page outlines our approach to 2025 in-year additional funding requests (AFRs).

    The application period is 1 May to 30 September 2025.
    Template for 2025 In-Year Additional Funding (XLSX 155 KB)
    You can now apply for 2025 in-year additional funding at any time until 30 September 2025. Below are the final application submission dates for each month.

    Application submission date 

    15/5/2025 

    12/6/2025 

    17/7/2025 

    18/8/2025 

    September (a) 

    19/9/2025 

    September (b) 

    30/9/2025 

    Submissions received after 30 September 2025 will not be accepted.
    The template outlines the process for submitting your application for in-year additional funding, along with the information required to appropriately assess your request. We expect to advise outcomes within four to six weeks of the submission date. It may take longer than this in some circumstances or if we require additional information. 

    Targeted funds
    As in 2024, we are taking a targeted approach to additional funding for the following funds:

    Delivery at Levels 3 to 7 (non-degree) on the New Zealand Qualifications and Credentials Framework and all industry training (DQ3-7) Fund
    Delivery at Levels 7 (degree) to 10 on the New Zealand Qualifications and Credentials Framework (DQ7-10) Fund.

    The Tertiary Education Commission (TEC) will contact tertiary education organisations (TEOs) that we consider meet the following criteria:

    demand from learners in 2025 within targeted priority areas
    history of strong Education Performance Indicators (EPIs)
    strong focus on improving educational outcomes for all learners.

    We will also consider other factors, such as:

    availability of funding for 2025 and outyears  
    External Evaluation and Review ratings
    the Fund’s intent
    2025 April Single Data Return supported by the March interim forecasts, including whether returns were submitted on time
    2024 and 2025 AFRs, data and TEO engagement
    advice received from Workforce Development Councils (WDCs)
    relevant supporting evidence from the TEOs and their stakeholders
    delivery over 105%
    financial viability, whether a repayment plan is or has recently been established, and if any debt is outstanding or owing to the TEC. 

    Funds not open for additional funding 
    The following funds are subject to specific constraints, which mean we will not be targeting additional funding and TEOs cannot apply for additional funding:

    Adult and Community Education (ACE) in Communities and ACE in Schools
    TEO-led Workplace Literacy and Numeracy Fund
    Delivery at Levels 1 and 2 on the New Zealand Qualifications and Credentials Framework (DQ1-2) Fund
    Youth Guarantee (YG) All Levels.

    Should money become available for these funds, through under-delivery or returned funding, we will notify you of our intended approach to additional funding.
    Funds open for additional funding
    The following funds are not subject to the targeted approach and TEOs can apply for additional funding:

    Intensive Literacy and Numeracy Fund
    ACE in Tertiary Education Institutions (TEIs)
    English Language Teaching Intensive Literacy and Numeracy Fund
    Refugee English Intensive Literacy and Numeracy Fund.

    MIL OSI New Zealand News –

  • MIL-OSI: Zinemx Obtains U.S. MSB License, Ushering in a New Era of Compliance

    Source: GlobeNewswire (MIL-OSI)

    DENVER, June 12, 2025 (GLOBE NEWSWIRE) — Recently, Zinemx Exchange announced that it has been granted the Money Services Business (MSB) license by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury, marking a significant milestone in the platform global compliance strategy. Zinemx has demonstrated trustworthy capabilities in anti-money laundering (AML) and user identification compliance, enabling it to legally conduct crypto asset trading activities in the United States and multiple other jurisdictions, while providing investors with a compliant and secure trading environment over the long term.

    Possession of the U.S. MSB license allows Zinemx Exchange to legally offer crypto asset trading services across multiple states in the U.S., and further strengthens its ability to operate lawfully in other global jurisdictions. The platform has always placed a high priority on compliance, dedicating itself to delivering high-quality crypto trading services to its users.

    Alongside obtaining the MSB license, Zinemx Exchange has further optimized its AML and Know Your Customer (KYC) compliance systems to meet global financial regulatory standards. The platform employs advanced identity verification technologies, ensuring that users can smoothly pass rigorous compliance checks during registration and trading processes. Its risk control system continuously monitors trading activities in real time, accurately identifying abnormal behaviors and effectively preventing illegal activities such as money laundering and market manipulation.

    The Zinemx compliance team works closely with international regulatory authorities and legal advisors to ensure that the platform operations adhere to legal and policy requirements in the global financial sector. All trading activities on the platform are strictly monitored and reviewed in accordance with international anti-money laundering regulations.

    As cryptocurrencies increasingly become mainstream assets, regulatory requirements for crypto assets are tightening worldwide. Zinemx Exchange, having secured the U.S. MSB license, also plans to expand localized operations in major markets such as Europe and Asia, thereby advancing its global compliance efforts.

    Looking ahead, Zinemx Exchange will continue to broaden its global compliance footprint by applying for additional financial licenses in more countries and regions, while further enhancing security and risk management measures. The platform is committed to building a more compliant and efficient crypto asset trading environment for investors. In the context of growing regulatory oversight of crypto trading, Zinemx is steadily advancing toward a new stage of international development.

    Media Contact: support@zinemx.org

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a69b22b7-7f1e-41b0-b6de-3ff0b830fccb

    The MIL Network –

  • MIL-OSI: Aemetis CEO Meets with White House, Congress, and Agencies Regarding Support for Domestic Energy and Rural Communities in Budget Bill

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., June 12, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company, announced today that its Chairman and CEO, Eric McAfee, has held meetings regarding support for domestic energy and rural communities in the federal tax bill with members of the Senate and House of Representatives, and with officials at the U.S. Department of Agriculture, Department of Energy, Treasury Department, and the White House National Economic Council. The meetings included a one hour presentation on transferable tax credits and the benefits of Section 45Z production tax credits to the Chief of Staff and biofuels policy staff of the Congressional Joint Committee on Taxation.

    “The One Big Beautiful Bill Act is a generational opportunity to support domestic energy and rural communities through Section 45Z production tax credits for biofuels and biogas,” Mr. McAfee stated. “This year, we have travelled to Washington D.C. more than ten times to meet with the White House, Senate and House, as well as to present to agencies related to biofuels and biogas to communicate the important role of 45Z in the expansion of American energy and the importance of funding to farmers and rural communities through higher value crops.”

    The 45Z production tax credit (PTC) was established in 2022 and went into effect in January 2025. If enacted, the federal tax and spending bill version passed by the House would modify the Section 45Z PTC to extend the credit availability by four years from 2027 to 2031, require the use of domestic feedstocks, and eliminate the indirect land use penalty for ethanol and other biofuels.

    The value of the Section 45Z production tax credits earned by Aemetis is directly correlated with the quantity of biofuels and biogas produced. From 12 dairies currently operating, Aemetis Biogas is rapidly scaling up the construction of dairy digesters to produce renewable natural gas (RNG) using feedstock from 50 dairies that have already entered agreements with Aemetis Biogas. This summer, 16 dairies are scheduled to be operating in the Aemetis Biogas Central Digester Project near Modesto, California, with 36 miles of biogas pipeline and a central biogas-to-RNG production facility already in operation delivering RNG into the PG&E utility gas pipeline.

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

    About Aemetis

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

    Safe Harbor Statement

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

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

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

    The MIL Network –

  • MIL-OSI: WTW makes senior appointments to further expand its Insurance Consulting and Technology business

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 12, 2025 (GLOBE NEWSWIRE) — WTW (NASDAQ: WTW), a global advisory, broking and solutions company, today announced the appointments of Scott Van Slyck as Senior Director of Technology Sales and Kate Gingras, JD, as Director of Strategy Execution to its Insurance Consulting and Technology (ICT) business.

    Van Slyck joins WTW from software company Semsee. With more than 20 years of leadership experience in enterprise software and Insurtech sales, he has successfully led high-performing teams at companies including SunGard, Bolttech, Majesco and InsurePay.

    Based in Raleigh, North Carolina, Van Slyck will be a member of the ICT Americas leadership team and report jointly to Giovanni Smyth, Americas Regional Leader for the ICT business, and Charlie Samolczyk, Global Technology Sales Leader. In his new role, he will lead the Americas Technology Sales team with a focus on client outreach, expanding WTW’s technology footprint and accelerating growth across the flagship products of the ICT business.

    Giovanni Smyth, Americas Regional Leader for the ICT business, WTW, said: “With a deep understanding and strong track record within the insurance technology space, Scott has consistently delivered successful programs and revenue growth. He is well placed to further build on our technology sales ambitions and we are excited for him to begin working with our PC and Life teams to bring our innovative solutions to market.”

    Gingras brings over 20 years of experience in driving growth and operational performance for enterprise software companies and insurance markets around the globe. She has worked with insurers as a consultant and innovation partner, bringing new technology products to market for both legacy and startup organizations.

    Based in Boston, Massachusetts, Gingras joins the ICT Americas Leadership Team and reports to Smyth. In her new role, she will work closely with Americas consulting and technology leaders and team members as well as WTW global partners to align strategy, business and operations to further the growth of the ICT business.

    Smyth said: “Kate has worked with major insurers worldwide and successfully directed go-to-market strategies for leading technology firms, and we are delighted that she has joined our team. Kate’s significant industry experience and expertise will bring invaluable strategic insight to our business, playing a pivotal role in helping to deliver meaningful results and exceptional value to our clients.”

    About Insurance Consulting and Technology
    WTW’s Insurance Consulting and Technology business serves the insurance industry with a powerful combination of advisory services and leading-edge technology. Our mission is to innovate and transform insurance, and we deliver solutions that help clients better select, finance, and manage risk and capital.

    We work with clients of all sizes globally, including most of the world’s leading insurance groups. Over 1,000 client companies use our specialist insurance software on six continents. With over 1,700 colleagues in 35 markets, we continually strive to be a partner and employer of choice to the insurance industry.

    About WTW
    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

    Learn more at wtwco.com.

    Media Contact
    Andrew Collis: +44 7932 725 267 | Andrew.Collis@wtwco.com

    Arnelle Sullivan +1 (718) 208-0474 | Arnelle.Sullivan@wtwco.com

    The MIL Network –

  • MIL-OSI: Charli Capital Expands Investment Intelligence Suite with Investor Relations Dashboard, A First-Of-Its-Kind Dual-Sided Network Platform, Empowering Investors and Companies to Connect, Collaborate, and Capitalize

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 12, 2025 (GLOBE NEWSWIRE) — Charli Capital, the company behind the proprietary Multidimensional AI™ and a leader in financial intelligence infrastructure, today announced the launch of its latest platform innovation: the Charli Investor Relations Dashboard. This transformative tool is set to redefine how investors and private companies connect, communicate, and collaborate in today’s high-velocity financial environment.

    Purpose-built for both public and private market participants, the Charli IR Dashboard offers a first-of-its-kind, dual-sided network interface that eliminates long-standing friction between capital allocators and capital seekers. Leveraging Charli’s advanced AI engine, the platform delivers real-time transparency, structured communication, and intelligent automation—all within a secure, interactive environment.

    “The Investor Relations Dashboard is not just a product—it’s a new capital markets infrastructure layer,” said Kevin Collins, CEO of Charli Capital. “It transforms investor communications from static and reactive to dynamic, intelligent, and proactive. We’re increasing capital efficiency by giving both sides of the market access to the same trusted platform, the same intelligence, and the same opportunity to build value.”

    Built for a New Era of Market Transparency and Capital Agility

    In a time where market velocity, investor scrutiny, and regulatory expectations are intensifying, the Charli Investor Relations Dashboard gives companies a decisive edge. It empowers leadership teams to control their capital markets presence, delivering real-time access to strategic narratives, financial performance, and investor-facing communications—all within a single, trusted platform.

    Key features include:

    • Smart Deal Discovery & Relationship Management – One platform to discover, engage, and manage investment opportunities.
    • Searchable Access to 2M+ Companies – Private and public companies enriched with AI-normalized fundamentals, sentiment analysis, and strategic intelligence.
    • Standardized Investment Scorecards – Delivering consistent, analyst-grade evaluations across multiple asset classes.
    • Investor Readiness Scores – AI-powered benchmarks that help companies improve transparency and attract high-quality capital.
    • Capital Campaign Tools – Securely manage investor outreach, share documents, and deliver timely updates that build trust and keep momentum moving.

    For private and public companies alike, the Charli Investor Relations Dashboard offers a powerful opportunity to take control of their market narrative and stand out in an increasingly competitive funding landscape. By centralizing key financials, strategic messaging, and real-time updates in a single investor-ready profile, companies can showcase their growth story with clarity, confidence, and credibility. No longer reliant on fragmented communications, firms can now engage directly with high-quality investors and accelerate their path to capital—all while building long-term relationships rooted in data, trust, and strategic alignment.

    Availability

    The Charli Investor Relations Dashboard will be available early in July to early adopters including leading exchanges, asset managers, and venture-backed growth companies. The platform is scheduled for general availability this summer, with onboarding and enterprise integrations already underway.

    To learn more and join the waitlist, visit https://product.charliai.com/dashboard-ir

    About Charli Capital
    Charli Capital is redefining the future of private investing through a first-of-its-kind dual-sided network, powered by Multidimensional AI™. The Charli platform delivers real-time insights across more than 2 million private and public companies, empowering investors to uncover opportunities, validate decisions, and connect with confidence. From discovery to due diligence, Charli Capital is where next-generation investment decisions begin.
    To learn more, visit www.charliai.com

    For Media Inquiries, Please Contact:
    Fatema Bhabrawala
    Director of Media Relations
    fbhabrawala@allianceadvisors.com

    The MIL Network –

  • MIL-OSI: Richtech Robotics’ Titan Selected as Robotics Innovation of the Year by the SupplyTech Breakthrough Awards

    Source: GlobeNewswire (MIL-OSI)

    Las Vegas, NV, June 12, 2025 (GLOBE NEWSWIRE) — Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a Nevada-based provider of AI-driven service robots, announced that its Titan robot was selected as the winner of the Robotics Innovation of the Year award by the 4th annual SupplyTech Breakthrough Awards program. The Titan robot is designed to increase efficiency and revenue by streamlining delivery, in the automotive repair space for example, allowing employees to work faster and smarter.

    “We’re honored that our Titan robot has been recognized by the SupplyTech Breakthrough Awards for its innovation and impact,” said Matt Casella, President of Richtech Robotics. “Integrating Titan into multi-bay automotive service centers highlights how robotics can eliminate repetitive tasks, boost technician productivity, and ultimately create more value for both businesses and their customers.”

    Richtech Robotics is partnering with leading auto dealerships across the U.S. to integrate its Titan robot into their workflow in order to save time, reduce operational expenses, and enhance overall efficiency. For example, at large multi-bay service centers with a variety of warehouse footprints, customers have reported that Titan has been able to save technicians an average of an hour per day, while also improving the accuracy of the internal parts delivery system.

    The SupplyTech Breakthrough Awards, a part of the Tech Breakthrough Organization, is a recognition platform for companies and individuals driving significant advancements in the supply chain and logistics industry through technology. For more information about the SupplyTech Breakthrough Awards program, visit supplytechbreakthrough.com.

    About Richtech Robotics

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

    Forward Looking Statements

    Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the benefits of integrating the Titan robot in the automotive repair space, including the likelihood of reducing operational expenses and enhancing overall efficiency.

    These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to Richtech Robotics’ products, industry and general economic and market conditions. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A, filed with the SEC on March 4, 2025, the IPO registration statement and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

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

    Investors:
    CORE IR
    Matt Blazei
    ir@richtechrobotics.com 

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

    The MIL Network –

  • MIL-OSI: Oportun Lead Independent Director Neil Williams Issues Letter to Stockholders

    Source: GlobeNewswire (MIL-OSI)

    Highlights Board’s proactive measures to increase long-term stockholder value and record of effective oversight

    Urges stockholders to vote “FOR” Oportun’s two highly qualified nominees – CEO Raul Vazquez and Carlos Minetti – on the GREEN proxy card

    SAN CARLOS, Calif., June 12, 2025 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, today issued a letter to stockholders from Lead Independent Director Neil Williams detailing the actions that Oportun’s Board of Directors has taken to drive improved financial performance and reposition the Company for future success.

    After nearly eight years of dedicated service to Oportun’s Board, Mr. Williams plans to retire at the Company’s upcoming 2025 Annual Meeting of Stockholders. In his letter urging shareholders to vote in favor of Oportun’s skilled and experienced nominees, Mr. Williams highlights:

    • In response to the changing economic environment, Oportun announced a detailed plan to reduce expenses and streamline operations in February 2023.
    • The announcement of that plan took place nearly two months before the Company was aware that Findell Capital Management was a stockholder. Over the next two years, Oportun:
      • Executed multiple reductions in force; eliminated expenses across the organization; initiated a strategic review process for the Company’s credit card portfolio that eventually resulted in its sale; and discontinued several non-core businesses.
    • Oportun has driven $240 million in cost savings since mid-2022, and over the last two quarters returned to GAAP profitability.
    • Oportun’s highly engaged and qualified Board possesses the right mix of skills and experience to continue driving Oportun’s strong momentum. The expertise of the Company’s nominees, CEO Raul Vazquez and Carlos Minetti, aligns with the needs of the business and provides a strong foundation to guide Oportun moving forward.

    The Board urges stockholders to vote “FOR” Oportun’s two highly qualified nominees using the GREEN proxy card or GREEN voting instruction form. The letter to stockholders and other important information related to the Annual Meeting can be found at VoteForOportun.com.

    The full text of the letter to stockholders follows:

    Dear Fellow Oportun Financial Stockholders,

    My name is Neil Williams and I am the Lead Independent Director at Oportun Financial Corporation.

    At our upcoming Annual Meeting of Stockholders, one of Oportun’s stockholders, Findell Capital, is seeking to remove our CEO, Raul Vazquez, from the Board of Directors. Findell seeks to replace Raul on the Board with an individual who we believe is substantially less qualified and lacks Raul’s institutional knowledge and experience with Oportun. Earlier this year, the Board conducted a comprehensive review of Raul’s performance – as we do every year – and unanimously concluded that Raul is the right person to lead the Company forward. Removing him from the Board would leave Oportun without a seasoned leader and risk destabilizing the Company at a critical time.

    I joined the Board in 2017, at a time when the Board’s focus was on capitalizing on favorable economic conditions to accelerate the Company’s growth. The Board recognized an opportunity to deepen and extend our relationship with our customers and, in doing so, increase long-term stockholder value.

    Together with management, we developed and executed a plan to expand the Company’s offerings to include credit cards, secured personal loans, and tools for savings, budgeting and investing, while also expanding our personal loan portfolio and its regional footprint. That strategy initially resulted in significant growth and improved credit metrics until the economic environment changed dramatically beginning in early 2022. At that point, it became clear that our growth-focused approach was no longer viable.

    Findell would like stockholders to believe that the Board was unresponsive to the challenges the Company faced and only took action after being prompted by Findell and its designees.

    Nothing could be further from the truth.

    When conditions changed, the Board did what responsible fiduciaries are expected to do: we acted decisively with management to put the Company on a better path. In February 2023 – nearly two months before we were even aware that Findell was a stockholder – we announced a detailed plan to reduce expenses and streamline operations. Over the next two years, we:

    • Executed multiple reductions in force;
    • Eliminated expenses across the organization;
    • Initiated a strategic review process for our credit card portfolio that eventually resulted in its sale; and
    • Discontinued several non-core businesses.

    Since we took these actions, our team has been executing well and delivering on our commitments. We have driven $240 million in cost savings since mid-2022, and over the last two quarters Oportun returned to GAAP profitability.

    We also focused on tightening our credit standards in light of the new environment. Our credit tightening actions have been effective in improving the quality of our loan portfolio, as evidenced by the $439 million asset-backed securitization transaction we executed earlier this month, featuring our first class of notes rated AAA. At a 5.67% average yield, this pricing was 128 basis points lower than our January ABS financing, under arguably a more uncertain macroeconomic backdrop.

    All of these actions were initiated before we added two individuals identified by Findell to the Board, and were part of a plan to reposition the Company we had developed independently of Findell.
    It is no coincidence that our longer-serving directors were able to develop and oversee a plan to transform Oportun. These individuals are exceptionally talented and deeply committed to the Company, each bringing complementary and relevant skills to the Board. Their expertise is aligned with the needs of our business and forms a strong foundation for effective oversight.

    • Jo Ann Barefoot is experienced in consumer finance regulation. Her background as former Deputy Comptroller of the Currency, as well as her experience serving on the Consumer Advisory Board of the Consumer Financial Protection Bureau, gives her critical insight into some of the Company’s most significant risks and opportunities. Since joining the Board in 2016, her background and expertise have been instrumental in navigating the regulatory landscape as we expanded our geographic footprint and evolved our business model.
    • As the former President and COO of Khan Academy, Ginny Lee has experience driving growth and operational excellence at a mission-driven, technology-focused organization. In addition, she spent more than 17 years at Intuit where she held multiple senior executive operational and technical roles, including Chief Information Officer. In that role, she helped grow Intuit, now one of the world’s largest fintech companies.
    • As a former senior and managing partner at KPMG, Louis Miramontes has advised hundreds of large public and private companies and their boards on audit, compliance and regulatory matters in the U.S. and Latin America. His expertise in public company financial reporting ensures strong oversight of the Company’s financial reporting processes and compliance.
    • Sandra Smith has a strong track record of building and scaling financial operations at leading technology companies. For example, she held senior financial roles at both public and venture-backed technology companies, including Twilio and Akamai Technologies, where she also led the investor relations program, enabling her to provide a valuable stockholder perspective in the boardroom. Her experience makes her an ideal Chair of our Audit Committee.
    • Raul Vazquez has served as Oportun’s CEO for more than a decade and has helped grow the Company’s loan portfolio from $100 million in 2012 to approximately $3 billion today. Under Raul’s leadership, Oportun grew loan originations from $243 million to $1.8 billion and expanded from 2 to 41 states. Before joining Oportun, he was a senior executive at Walmart.com and Walmart Inc., where he helped shape and scale the company’s multi-channel strategy and developed deep expertise in retail, operations and digital innovation – which prepared him well to lead a multi-channel, customer-centric business like Oportun.

    Over the last 16 months, we have appointed four new independent directors to the Board – Mohit Daswani, Carlos Minetti, Scott Parker and Richard Tambor. In addition, over the last two years, four other directors have stepped down. Importantly, two of the newly appointed directors, Scott and Richard, were recommended by Findell.

    Despite having a strong set of qualified directors, the Company’s 10-member Board was larger than our historical practice, and larger than the boards of many of our peers. We recognized that a smaller Board would be more in line with industry practice, increase focus and improve effectiveness, while also being consistent with feedback from stockholders, including Findell. Accordingly, to facilitate a reduction in Board size from 10 to eight directors, my colleague Scott and I are not standing for reelection at the upcoming Annual Meeting and will step down from the Board at that time.

    As I approach the end of my tenure at Oportun, I am confident that the Company is in good hands and on the right path, as demonstrated by continually improving financial performance in 2024 and the first quarter of 2025. The Board has worked energetically with the management team to create value. While there is more work to do, I am proud of the progress we have made to reposition the business for long-term success.

    Oportun’s transformation has occurred not because the Board was pushed reluctantly into action as Findell claims, but because the Board and management recognized the need for a different approach to address an evolving macroeconomic environment. We proactively set a new direction and have worked diligently to oversee its execution. The incumbent directors have driven that change, and, in my view, are best equipped to ensure Oportun’s momentum continues.

    For these reasons, I strongly encourage you to vote FOR Oportun’s director nominees – Raul Vazquez and Carlos Minetti – by following the instructions on the GREEN proxy card or GREEN voting instruction form.

    Sincerely,

    Neil Williams

    Your Vote Is Important!

    Please vote on the GREEN proxy card “FOR” the Company’s two nominees using one of the following options:

    • Follow the instructions set forth on the enclosed GREEN proxy card or GREEN voting instruction form to vote via the Internet,
    • Follow the instructions set forth on the enclosed GREEN proxy card or GREEN voting instruction form to vote by telephone, or
    • Sign and date the enclosed GREEN proxy card or GREEN voting instruction form and return it in the postage-paid envelope provided.

    Remember, please discard any white proxy card or white voting instruction form that you may receive from Findell. If you have already voted using a white proxy card or white voting instruction form, you may cancel that vote by simply voting again using the Company’s GREEN proxy card or GREEN voting instruction form. Only your latest-dated vote will count!

    If you have any questions about how to vote your shares, please call the firm assisting us with the solicitation of proxies:

    INNISFREE M&A INCORPORATED
    Shareholders may call:
    (877) 800-5195 (toll-free from the U.S. and Canada) or
    +1 (412) 232-3651 (from other countries)

    Cautionary Statement on Forward-Looking Statements
    Certain statements in this communication are “forward-looking statements”. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this communication, including statements as to our future performance, financial position and our strategic initiatives, and the Annual Meeting, are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events, financial trends and risks and uncertainties that we believe may affect our business, financial condition and results of operations. These risks and uncertainties include those risks described in our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K for the year ended December 31, 2024, as well as our subsequent filings with the SEC. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, we disclaim any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.

    A photo accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/24cd006c-d8c9-4110-a2e8-aecbc29376a0

    The MIL Network –

  • MIL-OSI: KraneShares Expands Single-Stock Levered ETF Suite With 2X Investment Exposure to Mercado Libre (KMLI)

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 12, 2025 (GLOBE NEWSWIRE) — Krane Funds Advisors (“KraneShares”), an asset management firm known for its global exchange-traded funds (ETFs), today announced the expansion of its Single-Stock Levered ETF Suite with the KraneShares 2X Long MELI Daily ETF (Ticker: KMLI), which listed today.

    KMLI seeks daily investment results, before expenses and fees, of 2 times (200%) the daily percentage change of Mercado Libre, a key player in the digitalization of commerce in the developing world.

    Mercado Libre is Latin America’s most popular E-Commerce platform, beating out Amazon in the region in terms of users.1 Mercado Libre helps power the digital transformation in 18 developing and middle-income countries through frictionless commerce and financial inclusion.2

    “Global consumer internet companies continue to represent an important growth theme, as internet adoption increases, especially in the developing world,” said James Maund, KraneShares Head of Capital Markets. “We are excited to expand our Single-Stock Levered ETF Suite with KMLI, whose underlying exposure, Mercado Libre, is a cornerstone of the digital transformation in Latin America. We hope to continue to expand the Suite to help our investors capitalize on the latest growth trends within international internet and technology markets.”

    The global middle class already accounts for two-thirds of global spending,3 and an increasing portion of that spending is occurring online. Mercado Libre is an innovative player facilitating this transition and stands to benefit substantially from increasing E-Commerce penetration rates in global markets.

    For more information on the KraneShares Single Stock Levered ETFs, please visit https://kraneshares.com/kmli or consult your financial advisor.

    Investors should be aware that they can lose their entire investment. Single-stock ETFs, unlike traditional ETFs that diversify across a range of stocks, focus solely on the performance of a single stock, significantly increasing investment risk. KraneShares Single Stock Levered ETFs aim for daily investment results that match 2x the daily performance of the underlying stock. Investors should be aware that returns may diverge from the stock’s actual performance if held for more than a day.

    Due to their leveraged nature, these funds require close monitoring, as they can magnify both potential gains and losses. A flat performance of the underlying stock may lead to a loss, and in certain scenarios, these funds can incur losses even when the stock price fluctuates positively or negatively over several days. Therefore, they are not suitable for every investor and are specifically intended for knowledgeable individuals who grasp the mechanics of leveraged investing and are willing to actively manage risks. Understanding volatility is essential, as minor stock movements and increased volatility can result in returns that significantly deviate from the expected target.

    About KraneShares

    KraneShares is a specialist investment manager focused on China, Climate, and Alternatives. KraneShares seeks to provide innovative, high-conviction, and first-to-market strategies based on the firm and its partners’ deep investing knowledge. KraneShares identifies and delivers groundbreaking capital market opportunities and believes investors should have cost-effective and transparent tools for attaining exposure to various asset classes. The firm was founded in 2013 and serves institutions and financial professionals globally. The firm is a signatory of the United Nations-supported Principles for Responsible Investment (UN PRI).

    Citations:

    1. Westberg Peter. “Mercado Libre: The Digital Backbone of Latin America,” Quartr. January 3, 2025.
    2. Company Reports as of 12/31/2025.
    3. Data from Brookings Institution as of 12/31/2021.

    Important Notes:

    Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s full and summary prospectus, which may be obtained by visiting: www.kraneshares.com/kmli. Read the prospectus carefully before investing.

    Risk Disclosures:

    Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.

    This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Certain content represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results; material is as of the dates noted and is subject to change without notice.

    The Fund may invest in derivatives, which are often more volatile than other investments and may magnify Fund’s gains or losses. Derivatives (i.e., futures/forward contracts, swaps, and options) are contracts that derive their value from the performance of underlying assets. The primary risk of derivatives is that changes in the assets’ market values and the derivatives may not be proportionate, and some derivatives can have the potential for unlimited losses. Derivatives are also subject to liquidity and counterparty risks. The Fund is subject to liquidity risks, meaning that certain investments may become difficult to purchase or sell at a reasonable time and price. If transactions for these securities are large, it may not be possible to initiate them, which may cause the Fund to suffer losses. Counterparty risks are the risks of loss in the event that the counterparties to an agreement fail to make required payments or otherwise comply with the terms of the derivatives.

    The Underlying Stocks are exposed to numerous risks that can impact their revenues and viability, such as price volatility, management, inflation, global economic conditions, and natural disasters. Their performances may be influenced by trends in commerce, cloud computing, international trade policies, and regulatory changes. The Fund’s daily returns rely on the Underlying Stocks’ performances and volatility. Issuer-specific factors may increase Fund investment volatility compared to the overall market. Mercado Libre faces risks from competition in E-Commerce, economic uncertainties, demand declines, revenue concentration, geopolitical events, intellectual property issues, exchange rates, reliance on third-party manufacturing, shortages, cybersecurity threats, system failures, rising costs, government regulations, compliance expenses, litigation, taxes, debt, and talent retention.

    The Fund aims for daily investment results of 200% of the daily percentage changes of the Underlying Stock. Their performances over longer periods will likely differ from the Underlying Stock due to compounded returns, which significantly affect leveraged funds. If the Underlying Stock perform poorly, the dollar losses for shareholders will be smaller if their investments have already decreased. Conversely, if the stocks perform well, future losses will be larger as the investment values have increased. Compounding effects become more pronounced with higher volatility and longer holding periods, impacting shareholders differently based on their investment durations and the stocks’ volatility. Various factors can impact the Fund’s correlations with Underlying Stocks, and achieving high correlations is not guaranteed. If the Fund fails to achieve correlation, they may not meet their investment objectives, with NAV changes varying significantly from 200% of the Underlying Stocks’ changes. To maintain correlations, the Fund’s attempt daily rebalancing for consistent exposures. Major deviations can increase leverage risks. Market disruptions and volatility can hinder the Fund’s ability to adjust. Target exposures fluctuate, making perfect 200% exposures unlikely, especially on volatile days. Other elements, like fees and market conditions, can also affect correlations. The Fund may change positions for tax efficiency, which could harm correlations. Large asset movements or trading discrepancies may lead to under- or overexposures, reducing the Fund’s ability to meet their daily objectives. The Fund uses leverage to gain investment exposure beyond their net assets, leading to potentially greater losses in adverse conditions than non-leveraged funds. A decline in the Underlying Stocks’ daily performance can magnify losses, decreasing the Fund’s value by 2% for each 1% drop, excluding costs. Losses could exceed net assets if the Underlying Stock falls over 50%. Due to limited investments, the Fund may need to limit or suspend the creation or redemption of Creation Units. During these times, shares might trade at significant premiums or discounts to their net asset values. If creations are halted, large redemptions could force the Fund to sell securities at unfavorable prices, increasing costs and taxable distributions to shareholders. The Underlying Stock is listed on an exchange, but an active trading market isn’t guaranteed, and trading can be halted. A halt in the Underlying Stock usually leads to a halt in the Fund’s shares. Trading may stop due to market conditions or exchange decisions, and halts can occur from extraordinary volatility under circuit breaker rules. Extended trading halts may hinder the Fund’s ability to arrange necessary swaps for its investment strategy.

    Narrowly focused investments typically exhibit higher volatility. The Fund’s assets are expected to be concentrated in a single stock. The securities or futures in that concentration could react similarly to market developments. Thus, the Fund is subject to loss due to adverse occurrences that affect that concentration. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility. KMLI is non-diversified.

    The Latin American economy is an emerging market, vulnerable to domestic and regional economic and political changes, often showing more volatility than developed markets. Companies face risks from potential government interventions, and the export-driven economy is sensitive to downturns in key trading partners, impacting the Fund. Regulatory standards in these markets are less stringent than in the U.S., resulting in limited information about issuers. Tax laws are unclear and subject to change, potentially impacting the Fund and leading to unexpected liabilities for foreign investors. The economies of certain Latin American countries have experienced high interest rates, economic volatility, inflation, and high unemployment rates. Fluctuations in the currencies of foreign countries may have an adverse effect on domestic currency values. The Fund is new and does not yet have a significant number of shares outstanding. If the Fund does not grow in size, it will be at greater risk than larger funds of wider bid-ask spreads for its shares, trading at a greater premium or discount to NAV, liquidation and/or a trading halt.

    ETF shares are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. However, shares may be redeemed at NAV directly by certain authorized broker-dealers (Authorized Participants) in very large creation/redemption units. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Beginning 12/23/2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates the current NAV per share. Prior to that date, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time.

    The KraneShares ETFs and KFA Funds ETFs are distributed by SEI Investments Distribution Company (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Krane Funds Advisors, LLC, the Investment Adviser for the Fund, or any sub-advisers for the Fund.

    Contact:
    KraneShares Investor Relations
    info@kraneshares.com

    The MIL Network –

  • MIL-OSI: FBI Special Agent Chris Wong Joins TRM Labs

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, June 12, 2025 (GLOBE NEWSWIRE) — Christopher Wong, one of the Federal Bureau of Investigation (FBI)’s foremost experts on cryptocurrency investigations, has joined TRM Labs.

    Wong served with the FBI for ten years, most recently as a Supervisory Special Agent in the Bureau’s Virtual Assets Unit. In that role, he led and supported some of the most complex cryptocurrency-related investigations in US law enforcement, including multi-year efforts to disrupt North Korea’s use of digital assets to finance its weapons programs.

    Wong, in partnership with now-TRM colleague Chris Janczewski — then a special agent with IRS-Criminal Investigation — led the FBI’s investigation into the 2016 Bitfinex hack, resulting in the recovery of approximately USD 3.6 billion in cryptocurrency, the largest seizure in US history. He also played a critical role in the US government’s response to the USD 600 million Axie Infinity Ronin Bridge hack, attributed to North Korea’s Lazarus Group. That incident became a watershed moment in US national security policy on crypto threats, driving a coordinated interagency response and leading to the first-ever sanctions on cryptocurrency mixing services.

    Most recently, Wong supported the Department of Justice’s civil forfeiture action involving over USD 7.7 million in cryptocurrency linked to a North Korean IT worker laundering network. That investigation uncovered a sophisticated global scheme in which DPRK operatives used false identities to gain employment in the tech sector and funnel illicit earnings back to Pyongyang.

    In addition to his investigative work, Wong has trained law enforcement, prosecutors, and judges in dozens of countries, helping to build international capacity to respond to crypto-enabled crime.

    “I’m incredibly proud of the mission I served at the FBI — supporting agents, partners, and prosecutors as we tackled some of the most impactful crypto investigations in the world,” said Wong. “At TRM, I have the opportunity to continue that mission — this time by helping amplify the work law enforcement is doing globally to disrupt illicit finance and protect victims.”

    “Chris is one of the most respected agents in the space,” said Esteban Castaño, co-founder and CEO of TRM Labs. “He combines elite investigative skill with a deep sense of purpose, and his work has shaped how governments respond to nation-state cyber threats and financial crime. We’re honored to welcome him to TRM as we expand our support for public sector partners and the broader mission of safeguarding the financial system.”

    Wong joins a growing team of former law enforcement and national security officials at TRM Labs working to detect, investigate, and prevent illicit activity involving digital assets.

    About TRM Labs

    TRM Labs provides blockchain analytics solutions to help law enforcement and national security agencies, financial institutions, and cryptocurrency businesses detect, investigate, and disrupt crypto-related fraud and financial crime. TRM’s blockchain intelligence platform includes solutions to trace the source and destination of funds, identify illicit activity, build cases, and construct an operating picture of threats. TRM is trusted by leading agencies and businesses worldwide who rely on TRM to enable a safer, more secure crypto ecosystem. TRM is based in San Francisco, CA, and is hiring across engineering, product, sales, and data science. To learn more, visit www.trmlabs.com.

    Contact: press@trmlabs.com

    The MIL Network –

  • MIL-OSI: Oyster Solutions To Add CAT Reporting Agent Services To CAT, CAIS Modules

    Source: GlobeNewswire (MIL-OSI)

    RICHMOND, Va., June 12, 2025 (GLOBE NEWSWIRE) — Oyster Solutions, the premier provider of GRC software for financial services firms, announced that it will be offering Consolidated Audit Trail (CAT) Reporting Agent services. This designation will further strengthen the platform’s ability to support clients with end-to-end CAT and CAIS compliance and reporting solutions in one central program.

    The Oyster Solutions CAT and CAIS modules are built on the success of Oyster Solutions’ previous investments into governance, risk and compliance technologies, which to date have helped financial services professionals improve the efficiency and accuracy of their compliance programs.

    Users of the Oyster Solutions CAT/CAIS modules also benefit from direct access to Oyster Consulting’s experts, who provide strategic guidance, regulatory insight, and hands-on support to optimize reporting accuracy and ensure ongoing compliance.

    The Consolidated Audit Trail (CAT) Module

    The Oyster Solutions CAT module consolidates CAT reporting events, error analysis, and validation data into a central program. It finds mistakes, connections, and holes, and quickly fixes them in large quantities that the FINRA CAT Portal cannot. This powerful application helps identify errors, connections, and missing information in vendor data and CAT-reported data, making the reporting process easier and more efficient for you.

    Unlike many of its competitors, the Oyster Solutions CAT module provides CAT file aggregation into a single surveillance platform. This includes:

    • Unlimited CAT/CAIS reporting data files data
    • Unlimited CAT/CAIS FINRA CAT Feedback Files data files
    • Unlimited CAT/CAIS Source files to validate CAT/CAIS report submission files*

    CAT Transactional reporting validation, correction and reconciliation features include:

    • CAT Transactional product and event type aggregation tabs
    • Named error identification and support
    • Automated identification of error events and related audit trail events for research
    • Syntax or field level validation
    • Bulk repair utilities not offered in the FINRA CAT portal
    • Accepted late event identification
    • Source file validation
    • Built-in validations for error corrections and new event creation

    CAIS Module

    The Oyster Solutions CAIS Reporting module helps firms achieve compliance with the full FINRA CAIS Reporting Obligation. The CAIS module uses a web-based GUI that provides firms with practical data so users can efficiently identify, monitor, and manage errors which may impact their report.

    Unlike many of its competitors, the Oyster Solutions CAIS module allows firms to have all CAT transaction and CAIS reporting data in single application. The CAIS module also provides:

    • Efficiency improvements related to centralized data aggregation and enhanced report validation
    • The same research capabilities as in the CAT transactional module (see above)
    • Account and Customer concentric data views
    • Multi-level FDID Reconciliation
    • Material inconsistency feedback efficiencies
    • CAIS reporting history that allows you to track reporting updates
    • LTID and ULTID reporting management

    CAT/CAIS Surveillance

    Over 100 pre-formatted reports provide graphic and sequential displays of data so you can quickly search, sort and filter. Customizable data views allowing limitless sorting/filtering of all reporting data elements, as well as a FINRA CAT technical specification view of reporting events, a linkage tree view showing complete intrafirm audit trail and Dynamic reporting event information grids.

    Streamlined Compliance

    In addition to these popular features that set Oyster Solutions apart, core features of the platform allow you to tailor entitlements and governance, track open issues, upload documentation, and import and export documentation. Audit functions allow you to provide surveillance evidence.

    • Trade Surveillance and Supervision. Oyster Solutions’ Monitor module is specifically designed for the distinct workflows, procedures, and requirements intrinsic to regulatory supervision and surveillance demands. Compliance and Trade Desk teams can leverage Oyster Solutions to compare client activity, profile and investment holdings to employee information, identifying conflicts of interest, compliance parameters and risk tolerance.
    • Governance and Planning. The Oyster Solutions Governance module helps financial services firms define and quantify risk, matching risks to controls, and monitoring process. Oyster Solutions keeps business and controls balanced while meeting regulatory requirements. Role-based permissions allow for visibility by user responsibility, assigned tasks, and supervision to guarantee efficient compliance program management.
    • Centralized documentation allows compliance officers to easily find and retrieve documents, audit logs, test results and attestations.
    • Automated Workflows & Calendar. With the platform’s enhanced, automated calendar, you can schedule compliance workflows, notify users of tasks and guide employees step-by-step through the process. You have visibility into each automated action that will occur, giving you control and peace of mind.

    Data Security

    Oyster Solutions is committed to the security of our customers and their data. Our customers entrust sensitive data to our care. As a cloud-based company entrusted with some of our customers’ most valuable data, we are focused on keeping you and your data safe. Keeping customer data safe is our priority. Oyster Solutions utilizes a Software-as-a-Service (SaaS) model in which security is a shared responsibility among Amazon Web Services (AWS), Oyster Solutions and our customers.

    Additionally, Oyster Solutions’ role-based access ensures that only authorized users have visibility into sensitive client information. Administrators assign appropriate privileges, safeguarding sensitive person identifying information (PII) while enhancing compliance with regulatory requirements.

    About Oyster Solutions

    Oyster Solutions is transforming the compliance experience for broker-dealers, Registered Investment Advisors and exchanges by creating the industry’s leading GRC technologies for financial services firms—to keep firms and their clients better protected. Firms of all sizes use Oyster Solutions to manage their compliance programs, streamline tasks through automation, and improve trade surveillance and supervision. Oyster Solutions and Oyster Consulting LLC are subsidiaries of Oyster Holdings. Learn more at https://www.oysterllc.com/what-we-do/oyster-solutions/.

    Contact

    Buddy Doyle
    Founder, CEO Oyster Consulting LLC

    communications@oysterllc.com

    804-965-5400

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2916e4c-a90b-41d2-a0fb-a2bd2cece419

    The MIL Network –

  • MIL-OSI Africa: Can the African Energy Bank Transform the Continent’s Refining and Downstream Future?


    Download logo

    Set to launch in June 2025 with an initial $5 billion in capital, the African Energy Bank (AEB) is positioned to catalyze a shift in Africa’s energy sector. Established by the African Petroleum Producers’ Organization (APPO) in partnership with multilateral financial institution Afreximbank, the AEB aims to mobilize capital for upstream, midstream and downstream energy projects, addressing a continent-wide investment shortfall estimated at up to $50 billion annually. By providing accessible, Africa-focused financing, the AEB is expected to reduce dependency on foreign capital and imports, especially in the downstream sector where over 80% of refined petroleum products are currently imported.

    The AEB’s role in advancing refining capacity and downstream development will take center stage at this year’s African Energy Week (AEW): Invest in African Energies 2025 conference – taking place from September 29 to October 3 in Cape Town. As Africa’s premier platform for energy dialogue and investment, AEW: Invest in African Energies 2025 will spotlight the AEB’s potential to transform Africa’s energy landscape.

    Driving Refining Capacity Through Local Investment

    Despite holding over 125 billion barrels of oil and 620 trillion cubic feet of natural gas, Africa continues to struggle with insufficient refining capacity, forcing nations to export crude oil and re-import refined products at a premium. Institutions such as the African Refiners and Distributors Association (ARDA) have long-advocated for investment in modernizing and expanding Africa’s refining infrastructure. Current projections indicate that African petroleum demand will increase from 4.1 million barrels per day (bpd) to 5.3 million bpd by 2040 – a trend that underscores the urgency of building self-sufficient refining systems.

    As such, the AEB – headquartered in Abuja, Nigeria and scheduled to begin operations in the second quarter of 2025 – is uniquely positioned to support strategic investment across Africa’s downstream and refining sectors. With an ambition to grow its asset base to $120 billion, the bank is positioned to unlock domestic value chains and catalyze large-scale projects that meet the continent’s rising demand for petroleum.

    Momentum in Downstream Expansion

    Recent developments across the continent reflect growing momentum to scale refining capacity. Angola expects phase one of the Cabinda refinery to begin operations in 2025, bringing 60,000 bpd to the market. The country has a goal to increase capacity to 445,000 bpd and is on track to reduce imports of derivatives by 14% by 2026. Nigeria’s 650,000-bpd Dangote Refinery began producing diesel and aviation fuel in 2024, marking a significant milestone for domestic processing. Similarly, upgrades to the Port Harcourt Refinery and ongoing expansion to Ghana’s Sentuo Oil Refinery highlight national efforts to meet growing demand.

    Equatorial Guinea’s recent agreement with Shanghai SupeZet to build a new refinery and expand the Bata facility further illustrates the strategic push toward local processing. These efforts not only reduce import dependency but also create jobs, enhance energy security and promote regional trade in refined products.

    Aligning Regional Integration and Investment

    Africa’s refining and energy infrastructure ambitions are closely tied to broader goals of economic integration. The African Continental Free Trade Agreement, ratified by more than 48 countries, creates a platform for cross-border energy projects by removing trade barriers and harmonizing investment policies. It also supports the development of regional supply chains, enhancing the commercial viability of shared infrastructure.

    The AEB will play a central role in supporting these regional ambitions by working with over 700 African financial institutions and APPO member states to channel funding into integrated, cross-border energy systems. By reducing the time, cost and risk associated with project development, the bank could accelerate the pace of infrastructure buildout across the continent.

    Distributed by APO Group on behalf of African Energy Chamber.

    About African Energy Week:
    AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

    MIL OSI Africa –

  • MIL-OSI Europe: Luis de Guindos: “More Europe” and financial integration

    Source: European Central Bank

    Keynote speech by Luis de Guindos, Vice-President of the ECB, at the annual Joint Conference of the European Commission and the European Central Bank on European financial integration

    Brussels, 12 June 2025

    Introduction

    I am once again delighted to speak at the annual joint conference of the European Commission and the European Central Bank on European financial integration. This is an important event for us as we come together to appraise and advance financial integration in Europe.

    The recent sea change in US economic policy and the multilateral rules-based system has been an important wake-up call for Europe. The pattern of globalisation is set to shift significantly and give way to increased economic fragmentation on a global scale. Unreliability and unpredictability are likely to persist for years to come, making uncertainty a defining feature that will not be overcome any time soon. This uncertainty extends beyond trade to other domains such as monetary, fiscal or national security policy.

    The European Union’s success rests on the pillars of free trade and openness. Compromising these ideals threatens the very foundation upon which the EU is built. Multilateralism and international cooperation are the principles that form the basis of the EU’s global governance and economic strategies. Despite this period of heightened geopolitical and policy uncertainty, the EU should stick to its values and strengthen its resolve. We must take this opportunity to strengthen the European project as its future depends on us and us alone.

    While our conference is clearly centred on advancing financial integration, my main message today is that we must make progress on all fronts. The Single Market is the focal point and driving force of European integration, intrinsically linked to the EU’s strategic objectives.[1] However, a true single market for goods and services within the EU remains elusive, hindered by persistent barriers and divergent national rules. National markets still often represent a major impediment to growth and innovation in sectors where global competition requires action on a European scale.

    Progress on integration in the real economy – entailing the strengthening of the performance and scalability of European businesses – requires progress in its financing through banks and capital markets. But the banking union remains incomplete, while EU capital markets remain fragmented. We need to seize the moment and make progress on these three fronts in order to reinforce the Economic and Monetary Union and foster growth.

    The outlook for growth and inflation

    Let me say a few words about the euro area economy. Compared with the situation a year ago, our concerns have shifted from high inflation to slow growth.

    The euro area economy grew more than expected in the first quarter of 2025, by 0.6% quarter on quarter. This however reflects temporary factors likely to revert. Survey data point overall to weaker prospects in the near term. Higher tariffs and the stronger euro make it harder to export, and high uncertainty is weighing on investment. At the same time, the strong labour market, rising real incomes and easier financing conditions should support growth in the medium term. This outlook is confirmed by our projections, indicating real growth rates gradually increasing from 0.9% in 2025 to 1.3% in 2027. Inflation is currently at around our 2% medium-term target. Importantly, we see wage growth moderating from still elevated levels. In our new projections, it is set to average 2.0% in 2025, 1.6% in 2026 and 2.0% in 2027. The downward revisions for this and next year, mainly reflect lower assumptions for energy prices and a stronger euro.

    Given the progress with inflation approaching our medium-term target on a sustained basis, we have been able to lower our key interest rates several times, by a total of 200 basis points since June last year.

    Now, though, we face exceptional uncertainty generated by geopolitical fragmentation and the volatile trade policy. The euro area economy has proved fairly resilient to date, supported by a strong labour market. That said, there may be challenges ahead, considering the size and frequency of shocks amid elevated uncertainty. While it is impossible to predict exactly what will happen, these developments may well have a dampening impact on growth in the euro area. It is therefore important for us to closely monitor what is happening in the real economy, partly as an early indicator for the inflation outlook. With inflation around our 2% target, structural reforms and growth-oriented fiscal policy become crucial to foster productivity and competitiveness in the EU.

    Financial integration in the EU

    This brings me back to the European project. The Single Market continues to be a cornerstone of European integration and values, serving as a powerful catalyst for growth. Given the rapidly shifting geopolitical environment we face right now, the current juncture is the right moment to look inwards and make progress on competitiveness and growth by taking bolder steps towards a truly unified single market for goods and services. The fact that integration has advanced so little in the EU real economy has, to a large extent, failed to prompt decisive integration in the banking sector and EU capital markets.

    Last year I lamented the fact that financial integration was back to the levels seen at the start of the monetary union. Today I can say that we have recently observed a positive trend in the price and quantity-based measures of financial integration.[2] Importantly, this holds true for measures of integration in an equity market which is critical for sourcing risk capital for innovative and high-growth companies. This improvement also applies to the banking market, which is key to financing the small and medium-sized enterprises that form the backbone of the euro area economy. At the same time, we are still far from the levels we might wish for a truly integrated financial market.

    An incomplete banking union is a large gap in our institutional framework. Despite Single Supervisory Mechanism and Single Resolution Mechanism, deposit insurance remains at the national level. This leaves the link between banks and sovereigns impossible to sever. Confidence in the safety of bank deposits still varies across countries. The geographical location of a bank also influences the outcome of a resolution process, as there is no common backstop and divergencies in national laws persist. This level of integration in the banking sector is insufficient to facilitate cross-border lending, reduce intermediation costs, foster cross-border consolidation and significantly enhance financing capacity.

    The same holds true for integration in EU capital markets. Harmonising regulations and removing national divergences are crucial to simplifying the regulatory framework and creating a single, resilient market. Furthermore, having established the Single Supervisory Mechanism for banks, we need to work towards integrated supervision of EU capital markets. This could be achieved gradually and considering specific sectoral features.

    The European Commission has put forward a savings and investments union strategy which provides a range of policy actions regarding financial markets. The two panel sessions today consider key bottlenecks in our capital markets: attracting more investors and channelling investments into the future.

    The European Union boasts a high saving rate, which often results in capital being exported outside of our borders. A more supportive environment for investment within the EU can be created by harmonising the regulatory framework and reducing red tape. Removing obstacles in tax, insolvency and corporate law would greatly facilitate cross-border investment. This in turn would render the EU capital market more attractive for investors. Capital will naturally follow integration in the real economy.

    We can also do a better job at facilitating cross-border access to the European funds market. This would help to promote access to low-cost products for retail investors and the distribution of funds across the EU. Deep and integrated equity markets are crucial for providing the necessary financing to support the European economy, which would serve to enhance productivity and resilience. Better functioning markets across borders can ensure that EU firms have access to adequate sources of finance throughout their lifecycle. When their financing needs increase and cannot be met by small and fragmented European markets, companies can decide to list elsewhere, or even relocate their operations entirely. Enhancing access to venture capital is therefore a strategic aim to enable firms with high growth potential to list domestically.

    Conclusion

    Let me conclude.

    The call for “more Europe” resonates more strongly than ever. This arises from the growing risk of over-reliance on non-European powers and the decreasing importance of any single country on the global stage. High levels of uncertainty, elevated risks from geopolitical tensions and potential disruptions in global trade leave the EU’s economic outlook fragile.

    The use of the US dollar in international funding, payment and trade transactions, or as a reserve currency, will not be challenged in the short term. But the role of the euro can gradually expand, especially if we deliver on “more Europe”. Dismantling long-standing barriers to full integration in the single market for goods and services and taking decisive steps towards a true banking and capital markets union will only enhance the international role of the euro.

    The stakes have never been higher for Europe. To deliver on its fundamental values, Europe needs to deliver on the long-term growth and resilience of its economy. Completing the banking union and deepening Europe’s financial markets are essential for allocating capital more effectively and providing benefits to savers. They are also essential to promote and retain innovative companies, as well as to attract talent and investment.

    Banks and capital markets are not competing for a limited amount of investment opportunities ­– they are closely interconnected as parts of a wider financial ecosystem that finances the real economy. To move on to the next level, we need integration in the real economy and political will to give priority to the European project over national interests. There is no way around it. We need decisive progress on all three fronts.

    MIL OSI Europe News –

  • MIL-OSI Europe: EU structural financial indicators: end of 2024

    Source: European Central Bank

    12 June 2025

    The European Central Bank (ECB) has updated its dataset of structural financial indicators for the banking sector in the European Union (EU) for the end of 2024. This annual dataset comprises statistics for credit institutions in the EU with respect to the number of offices and employees as well as data on banking sector concentration in each Member State.

    The structural financial indicators show a further decline in the number of bank offices in the EU, averaging 3.41% across Member States. Decreases were observed in 25 of the 27 countries, ranging from -0.71% to -12.48%. The total number of offices in the EU was 127,264 at the end of 2024, 82.09% located in the euro area.

    In the course of 2024, the number of employees of credit institutions fell in 13 and increased in 14 of the 27 Member States, with an average increase of 1.05% across all countries (Chart 1). 2024 thus marks the second consecutive year with a small overall increase in the number of employees at credit institutions, suggesting that the general trend of a decline since 2008 has levelled off.

    The data also indicate that the degree of banking sector concentration (measured by the share of assets held by the five largest credit institutions) continues to vary considerably between EU Member States (Chart 2). At national level the share of total assets of the five largest credit institutions ranged from 34.1% to 96.01%, while the EU average was 68.61% at the end of 2024.

    The structural financial indicators are published by the ECB on an annual basis.

    Chart 1

    Credit institutions in the EU: Number of employees (based on data per Member State)

    (thousands)

    Notes: Interquartile ranges and medians are calculated across average country values. Data for each Member State are available from 1999 or from the year of EU accession.

    Data on number of employees

    Chart 2

    Credit institutions in the EU: Share of assets held by the five largest credit institutions (based on data per Member State)

    (percentages)

    Notes: Interquartile ranges and medians are calculated across average country values. Data for each Member State are available from 1999 or from the year of EU accession.

    Data on share of assets

    For media queries, please contact Benoit Deeg, tel.: +491721683704.

    Notes:

    • Tables containing further breakdowns of structural financial indicator statistics are available on the ECB’s website at ECB Data Portal.
    • Structural Financial Indicators data are available in the ECB Data Portal.
    • Hyperlinks in the main body of the press release lead to data that may change with subsequent releases as a result of revisions.

    MIL OSI Europe News –

  • MIL-OSI: Zinemx Launches AI-Powered Risk Control System to Prevent Abnormal Trading Risks

    Source: GlobeNewswire (MIL-OSI)

    DENVER, June 12, 2025 (GLOBE NEWSWIRE) — Zinemx Exchange recently announced in its latest technical update that it has launched a new AI-powered risk control system capable of real-time monitoring and identification of abnormal trading activities, effectively mitigating market manipulation and scam risks. This innovative system integrates multi-factor authentication (MFA), zero trust access control (ZTA), and intelligent anti-scam mechanisms, enabling automatic detection of suspicious transactions and prompt implementation of additional security measures such as secondary verification.

    With the rapid development of the cryptocurrency market, incidents of abnormal trading and market manipulation have become increasingly frequent, posing significant threats to investors. The AI risk control system at Zinemx leverages advanced machine learning algorithms to continuously monitor user trading behavior, analyze market trends, and accurately identify irregular transactions. Upon detecting potentially suspicious activities, the system swiftly initiates appropriate responses to ensure the security of user funds and the integrity of the trading environment.

    To further enhance account security, the risk control framework of Zinemx incorporates a robust multi-factor authentication mechanism. Users are required to complete multi-factor verification when performing high-risk operations such as large transactions or account modifications, ensuring that all sensitive actions originate from trusted sources.

    Zero trust access control (ZTA) is another key feature of this security upgrade. This approach ensures that only strictly authorized users and devices can access the Zinemx trading system, thereby reducing security risks associated with account breaches or device vulnerabilities. Real-time device identification, IP address monitoring, and dynamic adjustment of access permissions guarantee that every access attempt undergoes rigorous scrutiny. Additionally, users are empowered to customize their own security settings, including transaction limits and IP access restrictions, further strengthening personal account protection.

    The AI-powered risk control system not only enhances the overall security of crypto trading but also provides investors with a more stable trading environment. Looking ahead, Zinemx Exchange will continue to optimize its risk management framework by introducing cutting-edge intelligent analytics and refining its risk control strategies to ensure that platform operations remain compliant with global regulatory standards.

    Media Contact: support@zinemx.org

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0436b6a9-ed48-4185-82a7-8be4eebd5bbc

    The MIL Network –

  • MIL-OSI Asia-Pac: Speech by FS at Reception in Celebration of 127th Anniversary of Proclamation of Philippine Independence (English only)

    Source: Hong Kong Government special administrative region

    Speech by FS at Reception in Celebration of 127th Anniversary of Proclamation of Philippine Independence (English only) 
         Good evening. It is a great pleasure to join you tonight in celebrating the 127th anniversary of the Republic of the Philippines’ proclamation of independence.  
     
         Let me take this opportunity to extend a formal and warm welcome to Consul General Israel, who assumed his new post in Hong Kong this April. With your extensive diplomatic career in the Philippines and abroad, I am confident that your experience and insight will further help strengthen the close ties between Hong Kong and the Philippines.  
         Tourism is a shining example. Last year, we welcomed nearly 1.2 million visitors from the Philippines, a remarkable increase of over 55 per cent compared to 2023. This positive momentum has continued, with over 550 000 Filipino visitors arriving in the first five months of this year, representing a 27 per cent year-on-year growth.   
     
         Our trade relationship remains robust. Hong Kong plays a vital role as a gateway for China’s exports to the Philippines. Hong Kong is the Philippines’ fifth largest trading partner. Last year, our value of merchandise trade grew to HK$108 billion. Hong Kong handled around 13 per cent of the total merchandise trade between China and the Philippines.
     
         Besides, I am pleased to note that we have started negotiations on a Comprehensive Avoidance of Double Taxation Agreement. I trust such an agreement will further simulate our bilateral trade and investments. 
     
         All these encouraging developments point to a future of even closer business ties and new opportunities for collaboration. 
     
         The Philippines stands out as one of the fastest-growing economies in ASEAN (Association of Southeast Asian Nations). I am pleased to learn that your Government is making proactive efforts to implement pro-business reforms to simplify company formation process, lower entry barriers and attract foreign businesses. These measures will facilitate trade and investments with your economic and trade partners. Meanwhile, more infrastructure flagship projects will bolster the economy, improve connectivity and make your country more attractive to businesses from abroad. 
     
         In an era marked by rising protectionism and increasing geopolitical uncertainty, globalisation is facing backlashes. Countries are seeking to diversify their export markets and development drivers. In this context, enhancing intra-regional trade and collaboration will be key to achieving sustainable growth. In this connection, we greatly appreciate the Philippines’ continued support for our accession to the Regional Comprehensive Economic Partnership (RCEP).
     
         Under the “one country, two systems” arrangement, Hong Kong is a “super connector” and “super value-adder” between the Chinese Mainland and the rest of the world. We steadfastly uphold our free port status, with the free movement of goods, capital, information and talent. Our world-class transport and logistics infrastructure provides a perfect springboard for your country’s products and services to reach the Mainland, across North Asia, and beyond.
     
         Now, given the policy uncertainties in the US and shifting global investment landscape, Hong Kong has emerged as a safe harbour for international capital. This is reflected by capital inflows and investors’ optimism. Our stock market has performed exceptionally well, rising by 20 per cent so far this year, on top of the 18 per cent increase last year. It is one of the top-performing markets globally.
     
         With deep liquidity and a comprehensive suite of funding options, Hong Kong offers an ideal platform for Filipino enterprises to raise funds to support their business development. They can consider listing on our Stock Exchange, or connecting with angel investors, venture capital and private equity for collaboration. 
     
         For sure, Hong Kong has more to offer. You will find Hong Kong an ideal location to raise funds for quality infrastructure and green transition projects. Beyond traditional means, such as bond issuance, there are innovative financing models such as infrastructure loan securitisation, or catastrophe bonds, which are designed to share natural disaster risks with investors. Hong Kong has already issued seven catastrophe bonds, covering events from earthquakes to storms across Asia and the Americas. 
     
         In short, the potential for deeper co-operation between our two economies is vast and far-reaching.
     
         Before I conclude, I would like to express my heartfelt appreciation to the more than 220 000 Filipino nationals in Hong Kong. They are an integral part of our community and have made invaluable contributions to the economic and social fabric of this city.  
     
         On behalf of the Hong Kong SAR Government, I extend my warmest congratulations to the people of the Philippines on your Independence Day. May the friendship between Hong Kong and the Philippines continue to flourish and prosper for years to come.  
     
         I wish you all a most enjoyable evening. Thank you very much.
    Issued at HKT 19:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: HK to adopt int’l disclosure rules

    Source: Hong Kong Information Services

    The Government has welcomed the publication today of jurisdictional profiles by the International Financial Reporting Standards (IFRS) Foundation, with Hong Kong being confirmed as one of the first jurisdictions to set a target of fully adopting the IFRS Sustainability Disclosure (ISSB) Standards. 

    The Government said this demonstrates the city’s commitment to enhancing the transparency of information on sustainablity in capital markets, enabling investors to make informed investment decisions.

    Secretary for Financial Services & the Treasury Christopher Hui said the IFRS Foundation’s confirmation affirms Hong Kong’s efforts and determination to support and promote a common international language on sustainability disclosures.

    “It also demonstrates Hong Kong’s strengths in the field of sustainable finance, helping to consolidate Hong Kong’s position as an international sustainable finance hub.

    “As a leading international financial centre, Hong Kong will continue to be at the forefront in aligning with international standards and promoting market best practices.”

    The Hong Kong Institute of Certified Public Accountants published in December last year the Hong Kong Sustainability Disclosure Standards (Hong Kong Standards), which will be effective from August 1 this year. These standards are fully aligned with the ISSB Standards.

    The Financial Services & the Treasury Bureau also launched, in December last year, a Roadmap on Sustainability Disclosure in Hong Kong, which sets out Hong Kong’s approach to requiring publicly accountable entities (PAEs) to adopt the ISSB Standards, and provides a well-defined pathway for large PAEs to fully adopt these standards no later than 2028.

    MIL OSI Asia Pacific News –

  • MIL-OSI: LIS Technologies Inc. Appoints Former Deputy Administrator of the National Nuclear Security Administration Brent Park Ph.D., as its Executive Director of Nuclear Security and Safeguards Policy

    Source: GlobeNewswire (MIL-OSI)

    Oak Ridge, Tennessee, June 12, 2025 (GLOBE NEWSWIRE) — LIS Technologies Inc. (“LIST” or “the Company”), a proprietary developer of advanced laser technology and the only USA-origin and patented laser uranium enrichment company, today announced that it has appointed Brent Park, Ph.D., as its Executive Director of Nuclear Security and Safeguards Policy.

    “LIST’s technology arrives at a pivotal moment, as the United States accelerates efforts to build a secure, domestic nuclear‑fuel supply chain,” said Brent Park, Ph.D., Executive Director of Nuclear Security and Safeguards Policy of LIS Technologies Inc. “This proprietary technology can be a key step toward reducing reliance on foreign sources of enriched uranium and strengthening our national energy independence. I’m honored to join the Company and look forward to advising the leadership team as they advance the CRISLA technology from revival to commercialization.”

    Brent is a nuclear physicist and a former government official with demonstrated leadership experience at Los Alamos National Laboratory (LANL), Nevada Test Site (NTS), and Oak Ridge National Laboratory (ORNL). Between 2018 and 2021, with Senate confirmation just 6 weeks after being nominated by President Donald J. Trump, Brent served as Deputy Administrator at the National Nuclear Security Administration (NNSA). He led Defense Nuclear Nonproliferation programs to support the nation’s efforts in nonproliferation treaties and international arms control, international nuclear security, safeguards, and export control policies. Prior to joining NNSA, Brent was Associate Laboratory Director at ORNL, leading the science-to-application efforts for national security programs. Research topics are wide-ranging, with particular focus on materials science and engineering, cybersecurity, high-performance computing and big data analytics, artificial intelligence, and nuclear science and engineering.

    Figure 1 – LIS Technologies Inc. Appoints Brent Park, Ph.D., as its Executive Director of Nuclear Security and Safeguards Policy.

    Previously, Brent was the director of NNSA’s Remote Sensing Laboratory, where he led efforts to advance and field cutting-edge diagnostics and communications instruments in support of counterterrorism and radiological incident response for the nation. As the NNSA’s non-proliferation chief, he led efforts and engagements to prevent nuclear weapons proliferation and to reduce the threat of nuclear and radiological terrorism around the world. Earlier, Brent managed and contributed to basic and applied research programs at LANL in the areas of physics and engineering, modeling and analysis, and nuclear weapons physics and engineering in support of stockpile stewardship, as well as nuclear emergency response and nuclear facility operations. Brent earned a bachelor’s degree in physics and mathematics at Illinois State University and a master’s degree in physics with an emphasis on remote sensing at Indiana State University. Later he shifted the direction of his research to nuclear physics and earned a master’s degree at Indiana University. Brent performed a thesis experiment using the spallation neutron source at LANL and earned a PhD in physics at Ohio University. He held a prestigious Physics Division postdoctoral fellowship at LANL before becoming a technical staff member.

    “Brent steps into this role with real enthusiasm, and we’re honored to welcome him to our team,” said Jay Yu, Executive Chairman and President of LIS Technologies Inc. “A distinguished leader, public official, and scientist, he brings a depth of experience that will benefit the Company both now and well into the future. During his tenure at the NNSA, Brent worked with some of the most advanced nuclear technologies in the industry. Now, his decision to join LIST reflects the promise of our patented, proprietary and U.S.-based CRISLA technology and the dedication that has shaped our company’s growth.”

    “Brent’s depth of experience and extensive network are a testament to his distinguished career, and it is a pleasure to welcome him to LIS Technologies,” said Christo Liebenberg, CEO and Co-Founder of LIS Technologies Inc. “His technical expertise, combined with his longstanding relationships across key institutions, will be instrumental as we navigate complex licensing, regulatory and non-proliferation pathways and advance our CRISLA technology through testing, demonstration activities and eventually to commercialization.”

    About LIS Technologies Inc.

    LIS Technologies Inc. (LIST) is a USA based, proprietary developer of a patented advanced laser technology, making use of infrared lasers to selectively excite the molecules of desired isotopes to separate them from other isotopes. The Laser Isotope Separation Technology (L.I.S.T) has a huge range of applications, including being the only USA-origin (and patented) laser uranium enrichment company, and several major advantages over traditional methods such as gas diffusion, centrifuges, and prior art laser enrichment. The LIST proprietary laser-based process is more energy-efficient and has the potential to be deployed with highly competitive capital and operational costs. L.I.S.T is optimized for LEU (Low Enriched Uranium) for existing civilian nuclear power plants, High-Assay LEU (HALEU) for the next generation of Small Modular Reactors (SMR) and Microreactors, the production of stable isotopes for medical and scientific research, and applications in quantum computing manufacturing for semiconductor technologies. The Company employs a world class nuclear technical team working alongside leading nuclear entrepreneurs and industry professionals, possessing strong relationships with government and private nuclear industries.

    In Dec 2024, LIS Technologies Inc. was selected as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. This initiative allocates up to $3.4 billion overall, with contracts lasting for up to 10 years. Each awardee is slated to receive a minimum contract of $2 million.

    For more information please visit: LaserIsTech.com

    For further information, please contact:
    Email: info@laseristech.com
    Telephone: 800-388-5492
    Follow us on X Platform
    Follow us on LinkedIn

    Forward Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. For LIS Technologies Inc., particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following which are, and will be, exacerbated by any worsening of global business and economic environment: (i) risks related to the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, loss of key individuals and uncertainty of success of patent filing, (ii) our ability to obtain contracts and funding to be able to continue operations and (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive laser enrichment technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; and other risks and uncertainties discussed in this and our other filings with the SEC. Only after successful completion of our Phase 2 Pilot Plant demonstration will LIS Technologies be able to make realistic economic predictions for a Commercial Facility. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network –

  • MIL-OSI: Zinemx Establishes International Compliance Centers to Advance Global Compliance Framework

    Source: GlobeNewswire (MIL-OSI)

    DENVER, June 12, 2025 (GLOBE NEWSWIRE) — Amid the wave of regulatory changes in the cryptocurrency market, Zinemx Exchange recently announced new developments in its compliance initiatives. The platform has established compliance centers in several major markets and expanded its compliance team by over 100 members. Treating compliance as a top priority, Zinemx is actively building a more comprehensive compliance system to address the complexities of the global crypto landscape.

    As many countries introduce new regulatory policies, compliance has become a critical pillar for the long-term development of crypto enterprises. Zinemx Exchange has responded swiftly to industry compliance trends by building a network of cross-border compliance centers and investing significant resources in human capital, technological support, and policy adaptation, thereby creating a widely adaptable compliance ecosystem.

    Currently, Zinemx has completed the deployment of compliance centers in major markets such as the United States, establishing local compliance teams and data compliance monitoring networks. At the institutional level, Zinemx has built a robust compliance management system. Comprehensive identity verification processes, blockchain-native on-chain anti-money laundering monitoring tools, and AI-powered anti-scam systems have all significantly enhanced the global compliance capabilities of the platform.

    Zinemx believes that globalization and localization are mutually reinforcing. The establishment of international compliance centers essentially represents an upgrade in local service capabilities. The platform plans to replicate its compliance center strategy in more markets, including Europe and Southeast Asia, by forming diversified teams specializing in policy analysis, compliance training, legal research, and data protection. This forward-looking and execution-driven compliance expansion strategy has become a key advantage for Zinemx in attracting global investors.

    Looking ahead, Zinemx Exchange will continue to build a more robust compliance framework, working closely with international financial regulatory authorities to set new industry standards in compliant operations, investor protection, and market transparency. As crypto regulations become increasingly stringent, compliant crypto trading platforms will gain greater competitive advantages. Zinemx is steadily advancing its international market presence, committed to creating a compliant and secure crypto trading ecosystem.

    Media Contact: support@zinemx.org

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

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0352b3d-ea1b-49c9-8e78-742930b1b418

    The MIL Network –

  • MIL-OSI Economics: Joint Summary of the Visit by H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, to the Kingdom of Norway

    Source: ASEAN – Association of SouthEast Asian Nations

    At the invitation of the Government of Norway and on the occasion of the 10th anniversary of ASEAN-Norway Sectoral Dialogue Partnership, H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, undertook a working visit to Norway, from 9 to 12 June 2025.
     
    The visit underscored the growing and multifaceted cooperation between ASEAN and Norway since the formalisation of the Sectoral Dialogue Partnership in 2015. It also reflected both sides’ shared commitment to further strengthening cooperation on sustainable ocean management and green transition, trade and investments, as well as on peace and conflict management and human rights.
     
    While in Oslo, the Secretary-General paid a courtesy call on H.E. Jonas Gahr Støre, Prime Minister of Norway. He also held meetings with H.E. Espen Barth Eide, Minister of Foreign Affairs, and with H.E. Cecilie Myrseth, Minister of Trade and Industry. The discussions touched on the deepening of ASEAN-Norway relations, trade and investment, blue economy, regional and global developments, and the importance of ASEAN as a regional consensus builder and a stabilising role in the Indo-Pacific region. The Meetings also emphasised the importance of upholding and strengthening ASEAN Centrality, rules-based international order and the importance of practical cooperation pursued through the ASEAN Outlook on the Indo-Pacific (AOIP).
     
    The Secretary-General also engaged with the ASEAN Inter-Parliamentary Assembly (AIPA) delegation at the Norwegian Parliament, took part in a roundtable discussion at the Norwegian Institute of International Affairs (NUPI), delivered a lecture at the Centre of Geopolitics, and participated in Oslo Forum where he exchanged views with a range of stakeholders on peace, diplomacy, and regional security issues. The Secretary-General and his delegation also visited Bergen where he engaged with Norwegian businesses and institutions related to sustainable ocean management, circular economy and smart cities.
     
    The visit demonstrated the scope and depth of ASEAN-Norway relations over the past decade and reaffirmed both sides’ mutual commitment to further strengthening the partnership. Both sides look forward to the finalisation of the ASEAN-Norway Practical Cooperation Areas (2026-2030) that is ambitious yet practical and implementable, which will serve as a framework for tangible cooperation in the years ahead.
    The post Joint Summary of the Visit by H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, to the Kingdom of Norway appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Chancellor invests in Britain’s renewal with up to 4 million additional NHS tests and procedures over the next five years

    Source: United Kingdom – Executive Government & Departments

    Press release

    Chancellor invests in Britain’s renewal with up to 4 million additional NHS tests and procedures over the next five years

    Families across the country will benefit from this investment in the NHS, delivering up to 4 million additional NHS tests and procedures over the next five years.

    • The £6 billion investment will deliver new scanners, more community diagnostic centre capacity, ambulances, and Urgent Treatment Centres to support emergency care teams, with increased capacity in community care to reduce pressure on hospitals and provide more convenient care for patients.
    • The additional £6 billion of funding will help deliver the Plan for Change promise that 92% of patients start consultant-led treatment within 18 weeks and is part of the largest ever investment in the Department of Health and Social Care’s capital budgets.

    Up to 4 million additional tests, scans and procedures will be delivered across the UK as the Chancellor confirms £6 billion of investment over the next five years in Britain’s health to make working people better off.

    It comes after the Chancellor’s Spending Review where she pledged to invest in Britain’s renewal, with the biggest ever investment in the Department of Health and Social Care, where she told the commons “there’s no strong economy without a strong NHS”.

    Today (11 June), the Chancellor is confirming this investment in the NHS which will deliver new scanners, more community diagnostic centres – on top of the 170 already delivered across the country – ambulances and Urgent Treatment Centres to support emergency care teams, with increased capacity in community care to reduce pressure on hospitals. 

    The funding injection will give patients better access to vital diagnostic scans and treatment in more convenient locations, including shopping centres and local high streets, providing faster diagnoses and improved outcomes.

    This will help cut hospital waiting lists and deliver the Government’s Plan for Change commitment that 92% of patients should start consultant-led treatment within 18 weeks of referral and follows record investment of £232 billion in the NHS announced at the Spending Review.

    Chancellor of the Exchequer, Rachel Reeves said:

    Over a decade of underinvestment from the previous government put the NHS on its knees, with people across the country unable to get the care they need. We are investing in Britain’s renewal, and we will turn that around.

    Part of our record investment will deliver 4 million tests, scans and procedures, so hard working people can get the health care they and their families need. There is no strong economy without a strong NHS, and we’ll deliver on our Plan for Change to end the hospital backlog, improve living standards and get more money in people’s pockets.

    £30 billion will also be invested over the next five years in day-to-day maintenance and repair of the NHS estate, with over £5 billion specifically allocated to address the most critical building repairs, reducing the most serious and critical infrastructure risk in a targeted way. This will begin to address the recommendations of the Darzi review and will turn the tide on the trends of the past 15 years.  

    Record investment must go hand-in-hand with reform across the health service, to deliver 2% productivity growth each year and unlock £17 billion of savings over the next three years to be reinvested back into the Health Service and support a radical transformation of the Service to be set out in the 10 Year Health Plan.

    Wes Streeting, Secretary of State for Health and Social Care, said:

    Since taking office we have been relentless in our drive to cut waiting times for patients, delivering over 3.6 million extra elective care appointments and reducing the overall waiting list by over 200,000.

    The £6 billion investment we are announcing today will generate millions more vital diagnostic tests, scans and procedures for patients across the country.

    Through our Plan for Change we are delivering the investment and reform needed to put the NHS on the road to recovery.

    The government is already putting the latest technology in the hands of patients and staff with a national expansion of the NHS App and a recent £70 million investment in new radiography machines to give cancer patients faster and better treatment.

    Reforms to general practice will also slash red tape and bring back the family doctor, allowing GPs to spend more time treating patients.

    This settlement also supports the shift from treatment to prevention, improving the health of the nation and reducing demand on the Health Service.

    The government will also deliver its manifesto commitment of recruiting an additional 8,500 mental health staff by the end of the Parliament and expanding mental health support teams in schools to 100% of schools in England by 2029-30. An extra £4 billion a year will be made available for adult social care by 2028-29, supporting the sector to improve adult social care and deliver a Fair Pay Agreement.

    Today’s announcement is the latest milestone in the governments mission to reform the NHS through the Plan for Change, having already delivered over 3.6 million extra elective care appointments, recruited an additional 1,500 GPs, financed the upgrade of over 1,000 GP surgeries and allocated over £750 million for vital maintenance repairs at hospitals across the country.

    Updates to this page

    Published 12 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Green hydrogen can ‘reposition’ Africa within global value chains

    Source: South Africa News Agency

    The burgeoning green hydrogen industry presents an opportunity for Africa to enable structural change and reposition the continent.

    This is according to the Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa.

    The Minister delivered remarks at the African Green Hydrogen Summit, which is underway in Cape Town.

    WATCH | 

    [embedded content]

    “[Green] hydrogen must be understood not merely as a clean fuel, but as a strategic enabler of Africa’s structural transformation. It holds the potential to reposition the continent within global value chains, not as an exporter of raw materials but as a competitive industrial actor. Harnessed strategically, it can anchor new industrial ecosystems, from green steel and fertilisers to sustainable mobility and synthetic fuels.

    “These are not abstract possibilities — they are within reach, provided we design policy frameworks that localise value, deepen intra-African trade, and direct investment flows towards infrastructure, skills, and technology transfer that serve the interests of the continent,” Ramokgopa said on Thursday.

    The industry presents a lucrative opportunity for the continent and boasts a global potential of at least $300 billion in global exports over the next three decades.

    Africa holds minerals and metals that are critical for the industry – placing the continent at the heart of this new frontier.

    “More fundamentally, green hydrogen offers an opportunity to reverse the logic of dependency that has historically defined Africa’s insertion into the global economy. Instead of reinforcing extractive patterns, Africa can lead with an agenda of beneficiation, regional integration, and sovereign industrial development. 

    “This will require that we reject siloed national approaches in favour of coordinated regional frameworks, leveraging platforms like the African Continental Free Trade Area (AfCFTA), the Programme for Infrastructure Development in Africa (PIDA), and most crucially, Agenda 2063. 

    “These frameworks offer the institutional scaffolding for a common energy market and harmonised regulatory regimes that can attract patient, long-term capital,” Ramokgopa said.

    The Minister implored African leaders at the summit to be “unapologetic” in taking their place at the forefront of the Green Hydrogen global industry.

    “We must also be unapologetic in demanding a fair place at the green negotiating table. Africa’s role in the global energy transition cannot be one of accommodation. It must be one of agency. Our narrative must be led by African voices, grounded in African realities, and committed to African futures.

    “As the world seeks new energy alliances and supply chains, Africa must shape its energy destiny through solidarity, strategy and statecraft, turning the promise of green hydrogen into a pillar of continental prosperity,” he insisted.

    The summit also launched the Africa Green Hydrogen Report – a document thrashing out the continent’s green hydrogen potential, which brings together the full breadth of the continent’s technical readiness.

    “This is not just a theoretical compilation; it is a technical blueprint for scaled project execution. Its message is unequivocal: Africa is not short of knowledge. Africa is ready to move from pilot to pipeline, from strategy to scale.

    “But let us be clear. The window for Africa to shape the rules of this emerging market is narrowing. Other regions are moving fast, with public subsidies, regulatory incentives, and long-term offtake strategies. If we delay, we risk importing technologies, importing skills, and once again exporting unprocessed potential. 

    “So, the real work of this summit is to forge clarity on the scale of our ambition, the credibility of our plans, and the coordination of our actions. Let us begin that work today, with urgency, with unity, and with a shared conviction that Africa’s future is not on the periphery of the global green economy, but firmly at its centre,” he said.

    IN PICTURES | Green Hydrogen Summit

    According to the African Green Hydrogen Alliance (AGHA) – which is made up of 10 African states, including South Africa – the industry has the potential to add between $66 billion and $126 billion to the Gross Domestic Product of the member countries over the next 25 years.

    Furthermore, some two to four million jobs could also be added during that time.

    “Africa’s choice is whether to be a passive site of resource extraction or a proactive architect of the green energy economy. With the right policy frameworks, investment enablers, and regional coordination, green hydrogen can and must be the backbone of a new African industrial era,” Ramokgopa said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Strengthening the Economic and Environmental Dimension: UK Statement to the OSCE

    Source: United Kingdom – Executive Government & Departments

    Speech

    Strengthening the Economic and Environmental Dimension: UK Statement to the OSCE

    Ambassador Neil Holland stresses the importance of the Economic and Environmental Dimension of the OSCE as part of its comprehensive approach to security.

    Thank you, Mr Chair.  

    The Second Dimension is vital to the OSCE’s comprehensive security approach. It addresses some of the most pressing challenges to our shared security and prosperity, including climate change, biodiversity loss, serious and organised crime, illicit finance, and the growing issue of irregular migration. This is particularly important given the devastating economic and environmental impact of Russia’s war of aggression on Ukraine.  

    The OSCE is uniquely positioned to assist participating States in tackling these complex issues. To do so we need to fully leverage the tools at our disposal — especially those that support good governance by promoting transparency, combatting illicit finance, and reducing corruption. Our Foreign Secretary’s campaign on illicit finance is a key example of the UK’s efforts to combat corruption and strengthen national security. 

    The UK values the OSCE’s role in addressing security-related environmental concerns, such as water management, energy security, and the impacts of climate change. We are proud to support the OSCE project on strengthening responses to security risks from climate change in Central Asia. We acknowledge the particular vulnerabilities of Central Asian states to climate change and its consequences. To address these challenges, we are funding a regional programme to enhance resilience through regional water and energy cooperation for low-carbon, climate-resilient growth.  

    As Chair of the Security Committee, the UK is prioritising key areas that intersect with the Second Dimension – particularly the financial underpinnings of organised crime which we will deal with in July’s meeting. These crimes cause both direct and indirect harm to our citizens, eroding social cohesion, undermining democratic norms, exacerbating climate change, and impeding economic development. They contribute to instability and conflict and also disproportionately affect women and girls, which is one of the many reasons why the UK supports the OSCE’s emphasis on Women’s economic empowerment.  

    April’s Security Committee meeting focused on the security threats associated with irregular migration, recommending that the OSCE work together with other international organisations, including through field presences, to support States in countering the smuggling of migrants and other challenges. It is clear that the OSCE can and should be doing more on migrant smuggling. We will follow up on this in September when we mark the 20-year anniversary of the Border Security and Management Concept. Later this year, with our Slovenian colleagues, we will also host a joint session of the Security, and Environmental and Economic Committees on protecting critical infrastructure.  

    We will continue to support a strong and effective Second Dimension, including through the EEF cycle. As we approach the Helsinki discussions on organisational functionality a good place to start would be to fulfil the requirements set out by Ministers on holding mandated conferences according to the timetable laid out by them. 

    Thank you Mr Chair.

    Updates to this page

    Published 12 June 2025

    MIL OSI United Kingdom –

  • India’s digital economy expected to contribute one-fifth of national income by 2029-30

    Source: Government of India

    Source: Government of India (4)

    As Prime Minister Narendra Modi marks 11 years in office, India’s digital economy is poised to become a cornerstone of national growth, projected to account for nearly one-fifth of the country’s income by 2029-30. According to the State of India’s Digital Economy Report 2024, India ranks as the third most digitized economy globally and 12th among G20 nations for individual user digitalization, reflecting remarkable progress in digital transformation over the past decade.

    The digital economy, contributing 11.74% of India’s GDP (Rs. 31.64 lakh crore or USD 402 billion) in 2022-23, is growing nearly twice as fast as the overall economy. Employing 14.67 million workers—2.55% of the workforce—it is almost five times more productive than other sectors. Under PM Modi’s leadership, this sector has flourished, driven by digital-enabling industries like ICT services, electronic component manufacturing, and communication equipment, which account for 7.83% of Gross Value Added (GVA). Digital platforms and intermediaries contribute an additional 2% of GVA, while digitalization in traditional sectors such as banking, financial services, insurance (BFSI), retail, and education adds another 2%.

    By 2029-30, the digital economy is expected to outpace agriculture and manufacturing, fueled by rapid adoption of artificial intelligence (AI), cloud services, and the expansion of global capability centers (GCCs). India hosts 55% of the world’s GCCs, which are offshore hubs established by multinational corporations for services like R&D, IT support, and business process management. The growth of digital intermediaries and platforms is anticipated to lead in the short term, with broader digital diffusion across the economy reducing the relative share of ICT industries over time.

    Digital transformation is reshaping traditional sectors unevenly. In BFSI, over 95% of banking payment transactions are digital, but revenue-generating activities like loans and investments remain largely offline. Retail is embracing omni-channel models, with e-tailers adding physical stores and leveraging AI chatbots and digital inventory tools for efficiency. Education is adopting hybrid models combining offline and online learning, while hospitality and logistics are integrating AI, metaverse technologies, and digital tools, though smaller firms lag behind larger ones in full digitalization.

    The digital economy’s growth rate of 17.3% over the past decade surpasses the overall economy’s 11.8%. Digital platforms, in particular, are projected to grow at approximately 30% in the coming years. In 2022-23, the sector employed 14.67 million workers, with 58.07% in digital-enabling industries. Notably, digital platforms are creating job opportunities for women, overcoming barriers related to mobility and safety, though the workforce remains predominantly male.

  • MIL-OSI: Nuveen Selects Molecule Software’s ETRM to Scale Renewable Trading Capabilities

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, June 12, 2025 (GLOBE NEWSWIRE) — Molecule Software is today announcing that global investment leader Nuveen, a TIAA company, has selected Molecule’s future-ready ETRM software to accelerate its expanding renewable power trading operations.

    Nuveen, one of the world’s largest asset managers, manages a diverse power trading portfolio across large markets, including the United States, Europe, and Asia. As their renewable power business grows, an agile ETRM platform that can handle the increasing complexities of their portfolio has become a top priority.

    “We have ambitious goals to grow our portfolio,” said Jordi Francesch, MD, Head of Global Asset Management, Clean Energy at Nuveen. “As we scale up our portfolio of energy generation assets, we encounter technical challenges across the different geographies in which we operate and different market risks in those geographies.

    “Therefore, the need to have a state-of-the-art energy trading risk management system that allows for scalability, risk control, and best-in-class management features becomes business critical.”

    Molecule, which has been expanding its footprint in Europe with the addition of a new EU production environment, EU- and UK-based sales, implementation, and support staff, and a growing list of new customers (including Nuveen), was selected for its tech-forward capabilities, ease of use, agility, and ability to handle the complexities of Nuveen’s growing portfolio.

    “We really need to be quite efficient in terms of decision-making and deployment of our strategy,” said Francesch. “We knew that a bulky, complicated ETRM would not help us achieve that goal. Molecule provides a more agile solution that can scale with our business”

    ”We’re so pleased to be working with the fantastic team at Nuveen,” said Sameer Soleja, Founder and CEO at Molecule. “They’re using Molecule as a force multiplier – as an ETRM should be – and we look forward to partnering with them as their portfolio grows.”

    About Molecule
    Molecule is the ETRM built for the future of energy. Cloud-native with an intuitive, easy-to-use experience at its core, Molecule is the alternative to the convoluted systems of the past. With near real-time reporting, 30+ integrations, and headache-free implementations, Molecule gets your ETRM out of your way – because you have more valuable things to do with your time. Find out more at molecule.io.

    About Nuveen
    Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of 31 December 2024 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

    Media Contact
    Kari Foster, VP of Marketing
    Molecule
    Phone: +1 832.464.4037
    Email: kari@molecule.io

    The MIL Network –

  • MIL-OSI Economics: IMCA to access climate action best practice through membership of cross-sector business network

    Source: International Marine Contractors Association – IMCA

    Headline: IMCA to access climate action best practice through membership of cross-sector business network

    IMCA has officially joined the Climate Action for Associations (CAFA) Collective, a leading not-for-profit initiative dedicated to accelerating climate action across industries and professions.

    CAFA membership will enable IMCA to access best practice case studies and resources from other business sectors to better support Members’ work to minimise their environmental impact and transition to a low-carbon and climate resilient economy.

    Mary Ntamark, IMCA’s Technical Adviser for Environmental Sustainability, said: “We are delighted to join CAFA. This partnership enables us to collaborate with a powerful network of membership organisations, access tailored resources, and participate in peer-to-peer learning and working groups focused on climate action and resilience. Working with other business sectors, we can make a meaningful impact and bring important insights to our work with IMCA Members.”

    IMCA’s Greenhouse Gas Committee and Environmental Sustainability Committees are engaged in numerous projects in support of Members’ work to enhance the sustainability of their operations, such as reducing greenhouse gas emissions from vessels, implementing circular economy principles in supply chains, and projects to support marine biodiversity.

    For further information, please contact mary.ntamark@imca-int.com.

    MIL OSI Economics –

  • MIL-OSI Economics: Joint Summary of the Visit by H

    Source: ASEAN

    At the invitation of the Government of Norway and on the occasion of the 10th anniversary of ASEAN-Norway Sectoral Dialogue Partnership, H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, undertook a working visit to Norway, from 9 to 12 June 2025.
     
    The visit underscored the growing and multifaceted cooperation between ASEAN and Norway since the formalisation of the Sectoral Dialogue Partnership in 2015. It also reflected both sides’ shared commitment to further strengthening cooperation on sustainable ocean management and green transition, trade and investments, as well as on peace and conflict management and human rights.
     
    While in Oslo, the Secretary-General paid a courtesy call on H.E. Jonas Gahr Støre, Prime Minister of Norway. He also held meetings with H.E. Espen Barth Eide, Minister of Foreign Affairs, and with H.E. Cecilie Myrseth, Minister of Trade and Industry. The discussions touched on the deepening of ASEAN-Norway relations, trade and investment, blue economy, regional and global developments, and the importance of ASEAN as a regional consensus builder and a stabilising role in the Indo-Pacific region. The Meetings also emphasised the importance of upholding and strengthening ASEAN Centrality, rules-based international order and the importance of practical cooperation pursued through the ASEAN Outlook on the Indo-Pacific (AOIP).
     
    The Secretary-General also engaged with the ASEAN Inter-Parliamentary Assembly (AIPA) delegation at the Norwegian Parliament, took part in a roundtable discussion at the Norwegian Institute of International Affairs (NUPI), delivered a lecture at the Centre of Geopolitics, and participated in Oslo Forum where he exchanged views with a range of stakeholders on peace, diplomacy, and regional security issues. The Secretary-General and his delegation also visited Bergen where he engaged with Norwegian businesses and institutions related to sustainable ocean management, circular economy and smart cities.
     
    The visit demonstrated the scope and depth of ASEAN-Norway relations over the past decade and reaffirmed both sides’ mutual commitment to further strengthening the partnership. Both sides look forward to the finalisation of the ASEAN-Norway Practical Cooperation Areas (2026-2030) that is ambitious yet practical and implementable, which will serve as a framework for tangible cooperation in the years ahead.
    The post Joint Summary of the Visit by H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, to the Kingdom of Norway appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-Evening Report: Grattan on Friday: the galahs are chattering about ‘productivity’, but can Labor really get it moving?

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Former prime minister Paul Keating famously used to say the resident galah in any pet shop was talking about micro-economic policy. These days, if you encounter a pet shop with a galah, she’ll be chattering about productivity.

    Productivity is currently the hot topic for a conversation on economic reform. Australia, like many other countries, has a serious problem with it. Our productivity hasn’t significantly increased for more than a decade (apart from a temporary spike during the pandemic).

    Now Treasurer Jim Chalmers has named productivity as his priority for Labor’s second term; assistant minister Andrew Leigh, part of the government’s economic team, has had it inserted into his title; the Productivity Commission has put out 15 potential reform areas for discussion, and Prime Minister Anthony Albanese has announced a roundtable to canvass the way ahead.

    The roundtable appears to be a prime ministerial initiative. Announcing it at the National Press Club on Tuesday, Albanese made a point of saying he had asked Chalmers to convene it. Perhaps it’s a case of the prime minister emulating his forerunner Bob Hawke, with his penchant for summits, while Chalmers seeks to be a contemporary Keating, as he searches for reforms to promote.

    It would be a major achievement if people were able to remember the second-term Albanese government for paving the way for a significant lift in Australia’s productivity. It would probably also be an economic and political miracle.

    Let’s never knock a summit, but let’s not be taken in by the suggestion that the planned August meeting, involving employers, unions and the government, will mark some breakthrough moment. Business representatives are approaching it with a degree of cynicism; they saw the 2022 jobs and skills summit as preparing the ground for the new government to meet union demands.

    This summit is expected to have fewer participants than the 2022 meeting, and may be briefer. Albanese described it as “a more streamlined dialogue than the jobs and skills summit, dealing with a more targeted set of issues”. Chalmers will announce more details next week. We can expect the government will package a collection of initiatives at least for further work, and perhaps a few for early action.

    While many stakeholders give lip service to improving productivity, there are huge obstacles to actually doing so.

    There’s perennial talk about tax reform – from business and economists, rather than the government. But serious change produces winners and losers, and having “losers” has become a political no-no, especially when there is not enough money to compensate them.

    The housing crisis could be eased, with more homes built faster, if there were less onerous regulations, notably at state and local level. Governments are working around the edges of this, but attempting to seriously slash regulation immediately runs into opposition from those who, variously, argue that will harm city-scapes, the environment, safety or the like.

    Red tape hampers big projects, but interest groups concerned about fauna, flora or the climate defend extensive hurdles and appeals processes as important for other priorities.

    We’d be more productive if people with skills (whether immigrants or those moving between states) faced fewer complexities in getting their credentials recognised. But critics would point to the risk of underqualified people getting through.

    Regulations are both barriers and protections. Whether you see particular regulations as negative or positive will depend where you are coming from. Less regulation can enhance productivity – but in certain cases the trade-off can be less protection and/or more risk. We have, for good or ill, become a more risk-averse community.

    Employers say various industrial relations laws and regulations restrict changes that could boost productivity. A Labor government interlocked with the union movement is going to listen to its industrial base on that one. Asked on Tuesday whether his message to business groups going to the summit was, “don’t waste your breath if you’re going to raise IR” Albanese said, “People are entitled to raise whatever they want to raise. But I’m a Labor prime minister.”

    Artificial Intelligence presents great opportunities to advance productivity. But it will cost some jobs and produce dislocation. Industry Minister Tim Ayres said recently, “I will be looking in particular at how we can strengthen worker voice and agency as technology is diffused into every workplace in the Australian economy. I look forward to working with our trade union movement on all of this.” Employers’ ears pricked at the union reference.

    While the government is signalling it wants to do something meaningful on productivity, the prime minister is also highly cautious when it comes to getting ahead of what he considers to be the government’s electoral mandate. Nor is he one to gamble political capital.

    He is not like, for example, John Howard, who before the 1996 election said he would “never ever” have a GST, then brought forward an ambitious GST package that he took to the 1998 election. That package had plenty of compensation for losers but Howard, who had a big parliamentary majority, was nearly booted out of office.

    Reform is more difficult than it was in the Hawke–Keating era – though it wasn’t as easy then as is often portrayed now. The voters are less trusting of government, and less willing to accept the downsides of change.

    The voices of those wanting to say “no” to various proposed changes are greatly amplified, in a highly professionalised political milieu and ubiquitous media opportunities. In the era of the “permanent campaign”, opinion polling has become so constant that politicians are always measuring their support in the moment, making a government hyper-nervous.

    Progress on productivity is also harder these days because the easier things have been done, and because changes in our economy – especially the growth of the care economy – mean in some sectors efficiencies are not so readily available, or measurable.

    We don’t actually need more inquiries, or a roundtable, to come up with ideas for what could or should be done on productivity. There have been multiple reports and thousands of recommendations. What is required is for the government to devise a bold program, have the will and the skill to implement it, and the ability to sell it to the public. But that runs into the problem of not having sought permission from the voters – which forces the government back to incrementalism.

    Whatever the problems, it is not too fanciful to see Chalmers hanging his hat on the productivity peg in his longer-term bid to be the next Labor prime minister. We’ll see how he goes.

    Michelle Grattan 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. Grattan on Friday: the galahs are chattering about ‘productivity’, but can Labor really get it moving? – https://theconversation.com/grattan-on-friday-the-galahs-are-chattering-about-productivity-but-can-labor-really-get-it-moving-257337

    MIL OSI Analysis – EveningReport.nz –

  • India leads global digital transactions: Amit Shah highlights 11 years of tech progress

    Source: Government of India

    Source: Government of India (4)

    Union Home Minister Amit Shah on Thursday highlighted the achievements of the Modi government’s digital revolution over the past 11 years, including ease of living and economic boom achieved during the ‘India’s Techade’.

    He credited the government’s vision for the technology-led development that has transformed society and every sector of the economy.

    “The Modi government democratised the use of technology and harnessed its power for the business sector, making Bharat a leading digital economy in the world in the #11YearsOfDigitalIndia. Whether it is healthcare, education, trade, or commerce, PM Shri @narendramodi Ji has transformed every sector of the economy and society through the digital revolution,” said Union Minister Shah in a post on the social media platform X.

    In his post, the Home Minister attached a digital poster titled ‘Big Picture – India’s Techade’ enlisting the achievements of the government, ranging from the launch of foreign satellites to rising internet users and mobile subscribers.

    The Union Minister’s post underscored the big digital strides taken by the government as reflected in 2.18 lakh gram panchayats getting an optical fibre connection and Rs 44 lakh crore being transferred to the poor and the needy under the direct benefit transfer (DBT) during the 11 years.

    He said that over 37 crore patients used digital consultation under the eSanjeevani scheme, over 52-plus crore people registered themselves on ‘DigiLocker’, 8 crore users used the UMANG platform for all government services, and the number of internet users rose 285 per cent during the period.

    Showcasing the strides taken in the telecom sector, Shah said the number of mobile subscribers has touched 116 crore while the cost per GB of data has declined from Rs 308 to Rs 9.34 during India’s Techade.

    The Home Minister’s post also delved into the government’s achievement of laying 6.93 lakh km of optical fibre cable under Bharat Net.

    Focusing on the economic benefits from the digital revolution, HM Shah said 49 per cent of the global real-time digital transactions happen in India.

    On the GeM portal, Rs 13-plus lakh crore worth of orders were placed on the platform till March 2025, he said.

    The Home Minister also said that during the past 11 years, the Indian Space Research Organisation (ISRO) launched 393 foreign satellites.

    (IANS)

  • 11 years of Modi govt: Digital finance drives unprecedented financial inclusion

    Source: Government of India

    Source: Government of India (4)

    During the 11 years of Prime Minister Narendra Modi-led NDA government, India has emerged as a global leader in digital finance and inclusion, harnessing technology to deliver accessible, efficient, and transparent financial services to every corner of the country. This digital transformation has played a pivotal role in bridging the urban-rural divide and reshaping India’s economic landscape.

    The Unified Payments Interface (UPI) has revolutionised digital transactions, with over 1,867.7 crore transactions worth ₹24.77 lakh crore recorded in April 2025 alone. Now used by nearly 460 million individuals and 65 million merchants, UPI has gone global, with its presence in more than seven countries, including the UAE, Singapore, and France. According to ACI Worldwide’s 2024 report, India accounted for 49% of all global real-time transactions in 2023, underscoring its leadership in digital payments innovation.

    The Aadhaar-enabled e-KYC system has simplified access to banking and public services, with over 141.88 crore Aadhaar IDs issued as of April 2025. It has become a foundational pillar of India’s digital infrastructure, ensuring faster verification and enhanced transparency.

    Direct Benefits Transfer (DBT), backed by Aadhaar authentication, has streamlined welfare delivery. Over ₹44 lakh crore has been transferred directly to beneficiaries’ accounts as of May 2025, eliminating middlemen and fake beneficiaries. This has saved the exchequer more than ₹3.48 lakh crore since 2015. The system has also removed over 5.87 crore ineligible ration card holders and 4.23 crore fake LPG connections, making welfare schemes more targeted.

    In the realm of e-commerce, the Open Network for Digital Commerce (ONDC), launched in 2022, has expanded to over 616 cities, empowering small sellers and service providers. By January 2025, more than 7.64 lakh sellers had joined the platform, boosting MSME participation in the digital economy.

    Similarly, the Government e-Marketplace (GeM), launched in 2016, has transformed public procurement. By January 2025, GeM had achieved a gross merchandise value (GMV) of ₹4.09 lakh crore in just 10 months of FY 2024–25, marking nearly 50% growth over the previous year. With over 1.6 lakh government buyers and 22.5 lakh sellers, GeM continues to enhance transparency and efficiency in government transactions.

    Together, these initiatives reflect a decade of digital empowerment under the Modi government, setting the foundation for a more inclusive, transparent, and resilient financial ecosystem.