NewzIntel.com

Category: Economy

  • MIL-OSI Africa: Spaza Shop Support Fund information session to be held in Limpopo

    Source: South Africa News Agency

    Limpopo spaza shop owners will get an opportunity to learn more about how they can access financial and non-financial support from the Spaza Shop Support Fund at an interactive session at the George Phadagi Town Hall, in Thohoyandou, on Friday.

    The session is part of a countrywide campaign aimed at creating awareness about the Spaza Shop Support Fund. 

    The campaign, which began in KwaZulu-Natal last month, is hosted by the Department of Trade, Industry, and Competition (the dtic) and the Department of Small Business Development (DSDB). 

    The R500 million fund was launched by the Minister of Trade, Industry and Competition, Parks Tau, and the Minister of Small Business Development, Stella Ndabeni-Abrahams, in Soweto, on 8 April 2025. 

    The national education and awareness campaign is being held in partnership with the Small Enterprise Development and Finance Agency (SEDFA) and the National Empowerment Fund (NEF), the agencies of the DSBD and the dtic, respectively, which will be responsible for administering the fund. 

    The interactive session with spaza owners in the Vhembe District Municipality will be an opportunity to learn more about how to apply for the fund and which requirements will they be expected to comply with.

    According to Minister Tau, government is taking a concrete step to formalise and empower the informal sector with the fund. 

    Tau said supporting spaza shops would enable entrepreneurs, often women and young people, to participate fully in the economic process.

    “These small businesses generate employment, drive local commerce, and channel much-needed income into communities that have long been underserved. Studies show that small businesses account for a significant portion of job creation in South Africa. 

    “By providing spaza shop owners with financial support, infrastructure upgrades, and essential business training, we are setting the stage for sustainable job creation,” Tau said.

    Minister Ndabeni said the role played by Sedfa and NEF was truly appreciated and that the department believed this fund would go a long way in assisting shop owners that are registered and have operating permits.

    “Our partnership ensures that spaza shop owners are not only funded but are also trained, mentored, and integrated into reliable supply chains. This is about building long-term sustainability for township retail,” Ndabeni said.

    The aim of the fund is to support South African-owned township community convenience shops, including spaza shops, to increase their participation in the townships and rural areas’ retail trade sector and to provide critical financial and non-financial support to township businesses, including community convenience stores and spaza shops.

    The fund also provides various types of support including the initial purchase of stock via delivery channel partners, upgrading of building infrastructure, systems, refrigeration, shelving and security, as well as training programmes which includes Point of Sale devices, business skills, digital literacy, credit health, food safety, business compliance. 

    The fund also seeks to bolster the broader supply chain by fostering partnerships with local manufacturers, black industrialists and wholesalers. 

    Through bulk purchasing arrangements and the promotion of locally produced goods, spaza shops will benefit from reduced costs and increased access to quality products. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Social Development provides feedback on Basic Income Support policy

    Source: South Africa News Agency

    The Department of Social Development is hard at work to ensure that there is basic income support for people between the ages of 18-59.

    This was revealed at the sitting of the Portfolio Committee on Social Development on Wednesday. This as the department presented its progress in the development of the Basic Income Support Policy.

    Work on the policy has been ongoing, with the first draft of the policy having been presented to the Social Protection, Community and Human Development Cluster Cabinet Committee (SPCHD) on 26 November 2024. 

    The committee directed that further consultations on the policy be held with internal stakeholders, focusing on affordability of the policy and linkages of its proposed beneficiaries with economic opportunities.

    The department said an interdepartmental workshop was held to give effect to this directive. The workshop affirmed the need to link the policy’s beneficiaries to other employment and sustainable livelihood opportunities. 

    A follow up workshop will be held in June 2025, followed by bilateral engagements with the Presidency, the Department of Employment and Labour and National Treasury.

    “Once the consultations are concluded, the department will approach the SPCHD Cabinet Committee again in the second quarter of the 2025/26 financial year, to request Cabinet to consider the revised policy, and if approved, publish it for public comments.

    “In order to ensure stability during these consultations period, the department will consult National Treasury for the SRD [Social Relief of Distress]  provision to be extended until the legislative process is complete, to ensure that its beneficiaries are protected from extreme poverty and vulnerability. 

    “The department, has for the interim, been granted an extension by the National Treasury to continue with this provision for the 2025/26 financial year,” the department explained.

    Additionally, members of the portfolio committee were pleased that the Minister Sisisi Tolashe has delivered on her budget vote commitments to stabilise the department by filling executive posts.

    Historical progress and ongoing consultations:
    •    The Basic Income Grant (BIG) was first proposed in 1998, with a technical proposal drafted in 2002, which did not gain Cabinet approval.
    •    In 2007, an Inter-Ministerial Committee (IMC) and Inter-Departmental Task Team (IDTT) were established to explore comprehensive social security reforms.
    •    In 2021 and 2022, an expert panel assessed the feasibility of Basic Income Support (BIS), considering its social and economic impact.
    •    The department proposed that the Social Relief of Distress (SRD) grant be made permanent, with a phased approach to increase benefits progressively.
    •    The proposed entry-level BIS grant should be set at the Lower Bound Poverty Line (LBPL), with long-term plans to eliminate poverty at the Upper Bound Poverty Line (UBPL).
    •    Extensive stakeholder consultations across all provinces informed the development of the BIS draft policy proposal.
    •    The Department had requested an extension of the SRD grant for an additional two years while finalising the BIS policy.A sub-team was established to assess the affordability of BIS, concluding that it was financially feasible based on economic modelling, though consensus with National Treasury was still pending.
    •    The department had planned to submit the draft BIS policy to Cabinet for approval by October 2024 but required further consultation with internal stakeholders such as National Treasury.
    •    The department, has for the interim, been granted an extension by the National Treasury to continue with this provision for the 2025/26 financial year.
    •    The department is engaging with the Portfolio Committee in the 2025/26 financial year to finalise the policy framework.

    – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: International Islamic Trade Finance Corporation (ITFC)’s 2024 Annual Report Highlights Record Trade Support, Empowering Organisation of Islamic Cooperation (OIC) Economies and Expanding Global Impact

    Source: Africa Press Organisation – English (2) – Report:

    JEDDAH, Saudi Arabia, June 4, 2025/APO Group/ —

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, is proud to announce the release of its 2024 Annual Report, titled “Reaching New Frontiers.” The report captures a landmark year showcasing a period of transformative growth, expanded geographic reach, record trade finance approvals, and strengthened commitments to sustainable and inclusive development across its Member Countries.  

    In 2024, ITFC demonstrated agility and resilience amidst persistent geopolitical and economic challenges, prioritizing trade finance, facilitation, and trade development to support member countries’ national development agendas. 

    Highlights from the 2024 Annual Report 

    Record Trade Finance Approvals 

    • In 2024, ITFC approved a total of US$ 7.3 billion in trade finance across 110 operations in 26 countries. Of this amount, US$ 6.7 billion was successfully disbursed 
    • Notably, 38% of the approved financing was directed toward Least Developed Member Countries (LDMCs), underscoring ITFC’s commitment to inclusive development 
    • Furthermore, 41% of the total portfolio, equivalent to US$ 3 billion, was allocated to non-energy sectors such as agriculture, healthcare, and financial services 
    • ITFC successfully mobilized US$ 4.2 billion through Islamic syndications in 2024, representing 57% of its total trade finance approvals. 

    Accelerating Intra-OIC Trade 

    • A total of US$ 4.85 billion was dedicated to promoting trade among OIC member countries, marking a 6.5% increase compared to 2023 
    • These intra-OIC trade approvals accounted for 67% of ITFC’s total trade finance operations, reinforcing the Corporation’s role in fostering regional economic integration and cooperation 

    Strengthening the Private Sector 

    • In a continued effort to support private sector growth, ITFC provided US$ 1.2 billion in financing, reflecting a 14% increase over the previous year 
    • This support reached 47 financial institutions and included engagements with 19 new clients across Africa, the Middle East, and Central Asia 

    Delivering on Food Security Commitments 

    • To address food insecurity, ITFC approved US$ 1.75 billion in financing for agriculture and food-related operations across 10 OIC countries  
    • Since the launch of the IsDB Group’s Food Security Response Program (FSRP) in 2022, ITFC has mobilized US$ 4.73 billion in food security financing, exceeding its initial commitment of US$ 4.5 billion. 
    • ITFC financing has helped Member Countries secure stable supplies of essential food commodities, reduce price volatility, and support agricultural resilience. 
    • In Tajikistan alone, ITFC’s food security financing contributed to reaching over 200,000 households—benefiting nearly 900,000 individuals—by ensuring access to staple goods such as wheat, sugar, and edible oil. 

    Sustainability Milestone 

    • ITFC launched its first Environmental and Social (E&S) Policy in October 2024 
    • The policy rollout included a 10-year E&S action plan, a 5-year carbon reduction strategy, and strengthened governance to embed ESG principles across all operations 

    The report also highlights that the Corporation was ranked at the top as Mandated Lead Arranger and Bookrunner in global Islamic syndications by both Refinitiv and Bloomberg, a reflection of its global leadership and strong investor confidence.  

    Additionally, the 2024 Annual Report spotlights the achievements of ITFC’s flagship programs: 

    • The Arab Africa Trade Bridges (AATB) Program actively supported the development of regional value chains by hosting targeted B2B meetings and launching Africa’s first textile and leather standards program, paving the way for improved quality and competitiveness across the continent 
    • The Aid for Trade Initiative for the Arab States (AfTIAS 2.0) Program saw the implementation progress on 21 ongoing projects across Arab States, with a strategic focus on job creation, trade facilitation, and export development. These initiatives continue to empower local economies and enhance regional trade capacity 
    • Trade Connect Central Asia+ (TCCA+): ITFC advanced regional integration among six Central Asian countries through projects that promote agri-business development, investment attraction, and food security, strengthening economic ties and resilience in the region 
    • The Global SMEs Program expanded its footprint in West Africa and officially launched in Cameroon, enhancing access to trade finance and advisory services for small and medium-sized enterprises and fostering inclusive economic growth 

    In addition to its flagship programs, ITFC delivered a diverse range of integrated trade solutions and targeted interventions in 2024 that reflect its holistic development approach. Through tailored capacity-building programs, reverse linkage initiatives, and trade facilitation tools, ITFC addressed specific needs across sectors such as energy, agriculture, finance, and trade policy. Highlights include the Indonesian Coffee Export Development Program enhancing sustainable farming practices; capacity-building workshops on Islamic finance in Nigeria, Tajikistan, and Azerbaijan; technical support to Togo and Mali’s electricity sectors; and the rollout of electronic Certificates of Origin to boost cross-border trade in West Africa.  

    With an eye on the future, ITFC remains steadfast in its commitment to addressing the evolving priorities of its Member Countries. By driving innovation, strengthening strategic partnerships, and delivering high-impact trade finance solutions, the Corporation is poised to chart new frontiers and accelerate progress toward sustainable and inclusive development across the OIC region. 

    Read the full English version here- https://apo-opa.co/3T78A0R 

    Read the full Arabic version here- https://apo-opa.co/3FMasch

    MIL OSI Africa –

  • MIL-OSI Banking: Why services can’t realistically be tariffed and shouldn’t be 

    Source: International Chamber of Commerce

    Headline: Why services can’t realistically be tariffed and shouldn’t be 

    In today’s digital economy, cross-border services are essential to how businesses operate, grow and compete. But while goods have long been subject to customs tariffs, applying tariffs to services would be both impractical and create significant legal, operational, and economic risks. 

    This is because services are fundamentally different from goods, making them virtually unworkable to tax at borders. Unlike physical products that customs agents can see and inspect, services are intangible—think of things like consulting, software, or design work—that often cross borders digitally or through the movement of people, rather than in shipping containers.  

    This creates multiple challenges: there is no clear moment when a service ‘enters’ a country, no global classification system comparable to the Harmonized System for goods, and no consistent method to assess what should be taxed.   

    Even when governments try to tax cross-border services – such as digital services taxes (DSTs) or withholding regimes – they face legal challenges, high enforcement costs, and risks of international retaliation, as these approaches often violate established rules or conflict with trade and tax agreements. 

    In contrast, some countries have opted for a more neutral approach by applying VAT to cross-border services—treating domestic and foreign providers equally.  

    Beyond feasibility, there is also a strong economic argument to be made against tariffs on services. Services account for more than half of global trade on a value-added basis and are vital enablers of productivity, innovation, and inclusion. Imposing tariffs would raise costs, fragment global supply chains, and disproportionately harm MSMEs and developing economies that rely on affordable cross-border services to grow and compete, including legal advice, design, IT support and marketing.  

    Tariffs on services would also increase compliance burdens and administrative costs for governments, requiring entirely new systems to monitor digital transactions, register providers, and audit contracts.  

    Exporters would not be spared either: many countries are net exporters of services in areas like finance, education, and media. Tariff measures could trigger retaliation and reduce market access for these firms. 

    In short: services can’t realistically be tariffed – and they shouldn’t be. Instead, policymakers should:  

    • Reaffirm multilateral norms by supporting the continuation of the WTO E-Commerce Moratorium and rejecting tariffs on services.  
    • Avoid unilateral tariff-like measures — such as DSTs or withholding regimes —that risk legal conflict, trade retaliation, and fragmentation. 
    • Pursue multilateral cooperation through appropriate multilateral and regional bodies to develop common rules for the taxation of the digital economy. 

    MIL OSI Global Banks –

  • MIL-OSI: TAB Bank Prescribes $2 Million Asset-Based Line of Credit for a Medical Supply Chain Financing and Logistics Company

    Source: GlobeNewswire (MIL-OSI)

    OGDEN, Utah, June 04, 2025 (GLOBE NEWSWIRE) — TAB Bank has provided a $2 million revolving asset-based line of credit for a Canadian medical supply chain financing and logistics company. The company opened a $2 million Certificate of Deposit (CD) at TAB Bank to serve as collateral on the loan.

    TAB Bank’s high-yield CD rate, currently at a 4.15% Annual Percentage Yield (APY), is a primary reason the medical supply chain solution provider chose to work with TAB. This strategic move allows the company to earn a return on its deposit while simultaneously building its commercial borrowing profile.

    The company offers supply chain financing and logistics support tailored specifically for North American medical service providers purchasing from local and global manufacturers. It provides a data-driven approach to procurement, inventory and end-to-end supply chain management of essential medical commodities, such as surgical supplies and medical devices for healthcare providers.

    “The medical supply chain solution provider’s decision to utilize TAB Bank’s high-yield CD as collateral is a smart, forward-thinking strategy,” said Ryan Gabriel, Vice President and Business Development Officer for the Pacific Northwest and Western Canada at TAB Bank. “It also highlights one of TAB’s key strengths—offering competitive deposit products that work hand-in-hand with our lending solutions to build value for our clients.”

    TAB Bank offers customized financial products to small and midsized businesses across a wide range of industries, like asset-based lending, equipment financing and working capital solutions. The bank’s personalized service and bold financial solutions continue to attract clients across North America.

    About TAB Bank
    At TAB Bank, our mission is to unlock dreams with bold financial solutions that empower individuals and businesses nationwide. We are committed to making financial success accessible to everyone through our innovative banking products. Our dedication drives us to continuously improve, ensuring that we meet the evolving needs of our clients with excellence and agility. For over 25 years, we have remained steadfast in offering tailored, technology-enabled solutions designed to simplify and enhance the banking experience. 

    For more information about how we can help you achieve your financial dreams, visit www.TABBank.com.

    Contact Information:
    Trevor Morris
    Director of Marketing
    801-624-5172
    trevor.morris@tabbank.com

    The MIL Network –

  • MIL-OSI: Top California Lender, LLC Closes $70 Million Loan for Multifamily Acquisition

    Source: GlobeNewswire (MIL-OSI)

    SANTA MONICA, Calif., June 04, 2025 (GLOBE NEWSWIRE) — Top California Lender, a leading private lender specializing in commercial lending, is proud to announce the successful closing of a $70 million loan to finance the acquisition of a multifamily property in Atlanta, Georgia. This significant achievement highlights the company’s expertise in facilitating large-scale real estate investments in high-growth markets across the United States.

    The loan, structured as an 18-month bridge term with an interest rate of 9.5% and interest-only payments, supports the purchase of a 400-unit Class A multifamily complex in Atlanta’s vibrant Midtown neighborhood. Valued at approximately $100 million, the property offers modern amenities and is well-positioned to meet the city’s growing demand for high-quality rental housing. The borrower, a prominent real estate investment firm, plans to enhance the complex with upgrades to attract premium tenants, capitalizing on Atlanta’s booming multifamily market. The loan features no prepayment penalty, providing the borrower with flexibility to secure long-term financing or sell the asset as market conditions evolve.

    “This closing demonstrates our ability to deliver fast, customized financing solutions for strategic acquisitions,” said Jerry Dean, CEO of Top California Lender, LLC. “We’re thrilled to support this investment in Atlanta, a market known for its robust multifamily growth, and to empower our client to unlock the property’s full potential.”

    The transaction underscores the strong demand for multifamily financing in Georgia, where population growth and urbanization continue to drive rental housing needs. Top California Lender, LLC’s efficient process, targeting closings within 30 days of approval, ensured the swift execution of this deal, solidifying its reputation as a trusted partner in commercial lending.

    For more information about Top California Lender’s loan programs, including Rehab/Renovation Loans, Construction Loans, Bridge Loans, Commercial Acquisition Loans, and Change of Use Loans, visit www.topcalifornialender.com or contact info@topcalifornialender.com.

    The MIL Network –

  • MIL-OSI: HTX Reveals Evolving Listing Strategy: Decoding the Future of Memes and Narratives from HPOS10I to Moonpig

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, June 04, 2025 (GLOBE NEWSWIRE) — HTX, a leading global cryptocurrency exchange, today unveiled key insights into its refined asset listing strategy, demonstrating a significant pivot from traditional evaluation metrics towards a focus on genuine community consensus, compelling narratives, and project transparency. This strategic evolution sets HTX apart from other major exchanges and reflects a deeper understanding of the shifting dynamics within the crypto market.

    Major exchanges have historically adopted divergent listing approaches. Binance often prioritizes projects with established user bases, reputable teams, or substantial strategic investments, reinforcing “official incubation” labels like Alpha and Launchpool to highlight platform empowerment and compliance. Conversely, OKX leverages its robust wallet ecosystem to foster community engagement, with on-chain performance serving as a crucial indicator of liquidity.

    HTX, however, has carved out a unique position in its latest assets listings. Moving beyond reliance on funding rounds or established venture capital, HTX’s criteria now heavily weigh community buzz, compelling narratives, and project transparency. This fresh perspective underpins a listing philosophy centered on identifying “genuine consensus”.

    The diversity of new additions in HTX’s recent New Listing zone—HPOS10I, SOON, and Moonpig—clearly demonstrates this approach. These projects, spanning viral memes, innovative technology, and organic community-driven initiatives, reflect different dimensions of the market. This illustrates how HTX Exchange develops its system for identifying high-quality assets with strong growth potential—through the lens of the platform, the project, and the user.

    Platform Perspective: Community-Led, Deep Narratives, and On-Chain Activity Define a New Listing Formula

    Exchange listings have typically focused on backend support, capital influence, or strategic wagers. However, HTX’s latest selection strategy signals a notable shift: while traffic remains a key factor, greater scrutiny is placed on the source of that traffic and the sustainability of its growth narrative.

    “HarryPotterObamaSonic10Inu” (HPOS10I), dubbed the “ultimate meme,” rose to prominence with its unique blend of chaotic narrative, community autonomy, and extensive cultural reach. What caught HTX’s attention was the genuine self-organizing power of its community and the rich narrative potential spanning NFTs, e-commerce, and multiple brand IPs. HTX’s decision to list HPOS10I signals a shift in trends: exchanges are moving beyond chasing short-term traffic to valuing the combined potential of deep narratives and ecosystem growth.

    Project Perspective: Where Tech Meets Meme with True Innovation

    In a narrative-driven market, purely technical projects often struggle to attract early liquidity without rapidly establishing an emotional connection. SOON effectively addresses this challenge.Its “Super App Stack (SAS)” model provides not only an L1-facing Rollup solution but also seamlessly integrates Web2 user scenarios, such as live streaming platforms and content portals, with on-chain technology. This establishes a closed loop from foundational technology to the end-user experience.

    HTX’s listing of SOON sends a clear message: exchanges are now encouraging “narrative-friendly tech.” “Tech that can tell a story” is becoming more sought after than purely complex, “hard-core” technical stacks.

    User Perspective: Fair Launch Grassroots Projects Can Gain Mainstream Platform Recognition

    Moonpig is a typical Pump.fun-native project, launched with no pre sales or VC backing, and driven entirely by its community. Its rapid surge in community engagement, powered by fair-launch mechanics and a lighthearted, meme-driven culture, reflects a deeply decentralized ethos. Moonpig serves as clear proof that even grassroots projects can gain recognition from centralized platforms.

    By listing Moonpig, HTX has delivered an obvious message: more organically grown, on-chain grassroots projects will have real opportunities for recognition and official listings on centralized platforms. Meme projects that organically emerge and grow within on-chain communities and meet the criteria for transparency and engagement can also earn the trust of exchanges and gain access to valuable resources.

    HTX’s Three Pillars for Spotting Tomorrow’s Valued Assets

    Based on the newly listed assets, HTX’s current listing strategy crystallizes into three core principles:

    1. Meme Projects with Lasting Narratives: The focus is on memes supported by authentic, self-governed communities and enduring cultural relevance—projects that evolve from simple memes into valuable IP beyond mere speculation.
    2. Narrative-Driven Tech Infra: Essential elements include solid tech, approachable narratives, and quick user attraction. Infra projects must leverage clear branding and “meme-like” narratives to connect with users and liquidity, rather than remaining obscure in complex whitepapers.
    3. Grassroots On-Chain Native Projects: Success depends on fair on-chain launches and genuine community consensus. “Grassroots Memes” with transparent operations, equitable beginnings, and a clean short-term track record are the next dark horses ready to gain recognition.

    As an established mainstream trading platform, HTX has distinctly shifted its listing strategy in this new cycle, shifting from a reactive “hotspot tracking” model to a more proactive, narrative-driven approach. The rationale is clear: the meme market has advanced beyond simple image-based jokes to embody deeper cultural identities and community affiliations. Concurrently, technical projects are gaining mainstream recognition not through traditional business development, but by embedding themselves into core communities through fresh narratives that better resonate with user contexts.

    Amidst this evolution, the role of exchanges is also transforming. They are no longer simply facilitators for asset listings, but increasingly act as critical selectors of compelling cultural narratives and robust consensus value.

    About HTX

    Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

    As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

    To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord.

    For further inquiries, please contact Ruder Finn Asia glo-media@htx-inc.com

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ccc59d1-b279-4582-a5c9-79268d2fffc8

    The MIL Network –

  • MIL-OSI: AndPartners Tops $25B in Client Assets to Start 2025: An ambitious start for a new wealth management firm aimed at changing the industry for the better

    Source: GlobeNewswire (MIL-OSI)

    ST. LOUIS, June 04, 2025 (GLOBE NEWSWIRE) — &Partners, a St. Louis-based, wealth management firm focused on attracting 100–150 of the best financial advisor teams in the U.S., is pleased to announce that it has onboarded over $25 billion in client assets, catapulting the firm into the top hybrid RIA wealth managers by size in just 18 months.

    “We started this company with a commitment to creating an environment where advisors can thrive, and clients can achieve their financial dreams with confidence. And we’re doing just that,” said David Kowach, CEO and cofounder of &Partners. “The $25 billion milestone, which we reached early this year, is an important one for us as it makes us not just one of the fastest growing over the last few years, but also one of the largest hybrid RIAs in this country. We feel privileged to call the advisors we’ve onboarded partners, and we are extremely excited for the year ahead.”

    Unlike many of its competitors, &Partners is employee- and advisor-owned with a very broadly distributed equity base. Shared ownership at &Partners creates alignment across home office employees, advisors, and their clients. According to Kowach, the secret ingredient fueling the company’s success and propelling the firm’s forward momentum is the &Partners approach to ownership. “Advisors are meaningful owners of our firm, and this ownership opportunity is a key driver of our growth.”

    &Partners was founded by a team of seasoned professionals with a long history in the advisory and asset management industries. At &Partners, an institutional-quality investment platform is paired with flexible technology that can accommodate a wide range of advisor preferences. The operational and investment support is white glove by design. No call centers and no 1-800 numbers.

    The hallmark of the culture at &Partners is empowerment. The growth of the firm will be capped at approximately 150 teams of advisors to help avoid the pitfalls of a “lowest common denominator approach” to decision-making by management teams too focused on scale rather than excellence. Advisors at &Partners will have the freedom to do what is right for clients, and they will be supported by a team of professionals with an “on call” mentality. Kristi Mitchem, who founded the firm together with David Kowach and John Alexander, describes the &Partners investment team as “concierge” in its orientation.

    “We want to meet advisors and their clients where they are. Every client and advisor will have access to institutional quality investment solutions that are designed to fit their needs and their dreams—precisely.” “Our clients deserve nothing less than unwavering dedication to their financial well-being,” adds John Alexander. “At the bigger firms, bureaucracy can get in the way of sound, common sense decision-making. The size of &Partners allows us to make individualized decisions with an unwavering focus on client value creation.”

    &Partners invites both advisors and clients to experience a new era of advisory services where their needs come first. To learn more about the firm, please visit andpartners.com or contact Trevor Wade at marketing@andpartners.com.

    About &Partners

    &Partners is a rapidly growing wealth management firm built for advisors seeking greater ownership, flexibility, and community. Founded by former Wells Fargo leaders and based in Nashville, Tennessee, and St. Louis, Missouri, the firm offers a hybrid model that combines high payouts with equity participation, institutional support, and access to a collaborative peer network. With nearly $30 billion in client assets and over 80 advisor teams as of May 2025, &Partners provides a platform where advisors can build lasting businesses on their terms — without sacrificing service, scale, or culture. Clearing and custody services are provided by National Financial Services LLC, a Fidelity company. Our mission is to change financial lives for the better by providing highly personalized advice that seeks to avoid missteps and optimize opportunities. To learn more, visit andpartners.com.

    &Partners is the enterprise trade/marketing name for Ampersand Partners LLC, a Delaware limited liability company, and its subsidiary, &Partners, LLC, a Tennessee limited liability company registered with the U.S. Securities and Exchange Commission as a broker-dealer and investment adviser. Securities and investment advisory services offered through &Partners, LLC, member FINRA and SIPC.

    Media Contacts: Trevor Wade, trevor.wade@andpartners.com, (415) 515-4560 and Kate Ennis, ennis@DAIPartnersPR.com, (301)580-6726

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7a24f3e-b62d-4020-ba9d-b8afaab77fbc

    The MIL Network –

  • MIL-OSI: Bitget Wallet Integrates Solana Pay to Enable Instant Crypto Payments

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, June 04, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial crypto wallet, has integrated Solana Pay, enabling users globally to make instant, low-fee crypto payments. The move expands Bitget Wallet’s real-world utility and supports its goal of making crypto seamless and accessible for everyday use.

    With this integration, Bitget Wallet users can scan Solana Pay QR codes to complete transactions using stablecoins like USDC and other Solana tokens. The feature supports both in-store and online payments, with upcoming compatibility for national QR code systems in regions such as Southeast Asia and Latin America. Transactions are settled directly from the user’s wallet, fee-efficiently and without intermediaries. This is part of Bitget Wallet’s growing PayFi suite, which aims to make crypto practical for commerce.

    “Our mission is to make crypto useful in everyday life — not just to hold or trade, but also to spend,” said Alvin Kan, COO of Bitget Wallet. “By integrating Solana Pay, we give users a fast and affordable way to use crypto globally. Combined with features for trading, staking, and DApp exploration, Bitget Wallet is becoming a true all-in-one platform for Solana and beyond.” The wallet supports 130+ blockchains, offers swaps across hundreds of DEXs, and connects users to thousands of Web3 apps in a secure, self-custodial environment.

    Solana Pay is an open-source payments framework built on Solana that enables decentralized, instant, and low-cost payments. The integration was made possible through collaboration with Venta, a Solana-powered payments provider offering scalable infrastructure for real-world blockchain payments. Venta connects wallets, merchants, and ecosystems to accelerate crypto adoption. “People everywhere deserve modern payments that don’t drain their pockets. Helping Bitget Wallet integrate Solana Pay for their millions of users shows that open, composable rails are the answer, letting any wallet, merchant, or developer tap into instant, low-cost transactions with just one integration. Together, Venta and Bitget Wallet are making that a reality,” said K, Co-Founder & CEO of Venta.

    Bitget Wallet offers a full Solana feature set across Trade, Earn, Pay, and Discover. Users can access Solana-native limit order trading through integration with Jupiter DEX, perform cross-chain swaps, and stake SOL via the wallet’s Earn suite. The wallet also supports reclaiming idle SOL through Solana account rent refunds, provides built-in MEV protection, and enables gas fee coverage using GetGas with Solana Paymaster support. Additionally, users can explore a wide array of Solana-based DApps directly within the app. These capabilities reflect Bitget Wallet’s broader commitment to making onchain finance more accessible, efficient, and secure for users engaging with the Solana network.

    To showcase the integration, Bitget Wallet will join the Solana Summit 2025 as a major partner. Taking place from June 5 to 7 in Da Nang, Vietnam, the summit will gather nearly 2,000 developers, founders, and ecosystem leaders. Bitget Wallet will host a branded booth with free coffee, exclusive merchandise, and live demos. The team will also lead a developer workshop and join a panel discussion, highlighting the wallet’s growing role in real-world crypto adoption. An evening side event will also offer a more informal setting for connecting with builders and partners.

    Find out more on Bitget Wallet’s official channels.

    About Bitget Wallet
    Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, contact media.web3@bitget.com

    About Venta
    Venta is a Solana-powered payments provider revolutionizing the payment landscape with scalable solutions, empowering merchants, consumers, and tech teams alike with an express lane to distribution and innovation. For more information, please visit https://www.venta.xyz/

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ecaf0437-beae-428f-bd47-f006f696735a

    The MIL Network –

  • MIL-OSI Banking: Kevin Greenidge: Unbreakable, unmovable, unstoppable

    Source: Bank for International Settlements

    Good evening.

    As the stars in the life insurance business gather tonight, I am delighted to address you on the occasion of your 36th Annual Caribbean Sales Congress. It is both an honour and a privilege to engage with such a distinguished gathering of professionals who shape the financial security of our Caribbean nations.

    From the start of this Congress yesterday evening, tonight, and over the coming days, we reflect on industry trends, celebrate regulatory progress, forge new connections, and honour your exceptional achievers. Your congress theme – “Unbreakable, Unmovable, Unstoppable” – resonates deeply with me. These powerful words capture the very essence of what it means to thrive in today’s ever-evolving world, including within the life insurance and financial advisory sector. They speak to the resilience, steadfast determination, and unwavering commitment that define your work, day after day.

    Over the next few minutes, I invite you to join me on a journey exploring the vital importance of your sector and discovering what you must collectively do to remain truly unbreakable, unmovable, and unstoppable in an ever-changing world. 

    The Cornerstone of Caribbean Financial Stability

    The life insurance sector stands as an indispensable pillar supporting our Caribbean economic landscape. The numbers tell a compelling story: ordinary life plans continue to dominate market share across Barbados, the Eastern Caribbean, and Trinidad and Tobago, while group health plans remain the cornerstone in Jamaica and beyond.

    Yet despite these encouraging trends, our region’s insurance penetration rate of 2.18 percent trails significantly behind the OECD average of 4.6 percent. This gap represents not just a statistical shortfall, but a pressing opportunity for expanded financial education and awareness throughout our communities.

    But let us remember – insurance transcends mere policies and premiums; it embodies security, stability, and the safeguarding of our collective future. In a Caribbean increasingly vulnerable to economic disruptions, brought on by the climate crisis, and shifting demographics with aging populations and declining birth rates, your profession serves as a bedrock of financial protection. Whether securing a family’s stability after losing a breadwinner, or guaranteeing a child’s education, or creating pathways to dignified retirement, you provide the foundation of financial resilience upon which our communities build their dreams.

    Transforming Regional Economies Through Strategic Investment

    Our regional economies also stand at a critical crossroad, poised for strategic restructuring that will create sustainable growth platforms for generations to come. Take Barbados, for example – our economy has undergone remarkable transformation since 2018, evolving from a stagnating system burdened by debt into one characterised by sustained economic expansion and consistent debt reduction.

    We’ve made tremendous strides in enhancing our competitiveness, while simultaneously addressing both external and internal macroeconomic imbalances. The revitalisation of our formerly dormant capital market, through new treasury bill offerings and our recent long-term 20-year debenture, marks a significant milestone. With increasingly positive reviews from regional and international credit rating agencies, as evidenced by four upgrades in the last eight months, these financial products have attracted substantial interest.

    I encourage you, my regional colleagues, to reconsider your exposure to Barbadian government securities as you seek safe, secure investments from a nation firmly recommitted to fiscal prudence and sustainable, inclusive growth.

    Yet our journey has only begun, and the investment decisions made by life insurance companies like yours will prove instrumental in driving Caribbean economic growth forward. No economy can fully address its citizens’ long-term needs through fiscal measures alone. Instead, we must harness our people’s collective savings through strategic investments that accelerate sustainable growth.

    Consider this striking reality: approximately US$5.4 billion in excess cash currently sits idle in central banks across our region – low or non-earning investments that could instead fuel transformative growth. Imagine these resources channelled into developing tourism, renewable energy, and addressing the climate crisis – a fight that the Prime Minister of Barbados is leading – and innovative industries that sustainably leverage our vast marine resources and technological capabilities. How about harnessing some of this excess liquidity through a regional bond for economic development? 

    Life insurance products are uniquely designed to manage longevity risk, making your industry perfectly positioned to drive investment in crucial long-term infrastructure and both private and public securities that meet appropriate criteria. Tonight, I challenge us all to reimagine how these investments can reshape our Caribbean destiny.

    Celebrating Excellence: The Monica Robotham Story

    Now, we are gathered here tonight to celebrate a woman whose career and life is a testament to perseverance, excellence, and a profound commitment to service – Monica Robotham. Ladies and gentlemen, I am deeply honoured to join you in celebrating Monica’s extraordinary journey – a path that truly embodies what it means to be unbreakable, unstoppable, and unmoveable in your industry. Her story resonates profoundly with me because it demonstrates how dedication and service can transform not just a career but an entire community.

    From her humble beginnings at Life of Jamaica in 1987, Monica pursued excellence through prestigious designations and shattered barriers to join the industry’s elite. Her transformative leadership as President of the Jamaica Association of Insurance and Financial Advisors demonstrated unwavering commitment, breathing new life into the organisation when others might have faltered. Perhaps most inspiring was her remarkable service to vulnerable populations during the darkest days of COVID.

    Monica’s guiding principle – “You are remembered not by what you gathered, but by what you scattered” – offers us a profound model for success that transcends personal achievement. Tonight, I invite each of you to follow Monica’s example: become unbreakable through continuous professional growth, become unstoppable through selfless service to others, and become unmovable in your commitment to excellence. Her remarkable legacy highlights the truth that when we embrace these principles, we too can create lasting impact that ripples through both our profession and our communities.

    Personal and Professional Growth: Your Path to Becoming Unstoppable

    Success in this field demands more than knowledge and expertise – it requires a mindset of resilience, adaptability, and above all, continuous learning. To truly embody being unbreakable, unmovable, and unstoppable like Monica, I invite you to embrace these transformative principles in your own development journey:

    First, commit yourself to lifelong learning. The financial services landscape, like most industries today, is evolving at breath-taking speed. Regulatory shifts, technological revolutions, and emerging risks make staying informed and continuously honing your skills absolutely essential. Embrace professional development opportunities, earn new certifications, and position yourself as a trusted expert whose knowledge illuminates the path forward. The Central Bank I lead maintains an enduring tradition of training and development, and we encourage all financial services professionals to invest in their growth.

    Second, build meaningful client relationships that transcend transactions. In this era of technological convenience, the human touch remains your most precious asset. Your ability to genuinely connect with clients, deeply understand their unique needs, and provide thoughtfully tailored financial solutions, sets you apart in a crowded marketplace. Remember – a truly effective financial advisor is far more than a salesperson; you are a strategic partner guiding your clients’ financial journeys. Don’t simply sell products – ensure they meet each client’s unique circumstances and aspirations. We’ve witnessed too many instances of product mis-selling globally, and I recognise that we as Caribbean people sometimes approach long-term investing with understandable caution.

    Third, strengthen the ethical foundations upon which everything else rests. Trust must remain the fundamental currency of your industry. The financial advisory profession stands or falls on transparency, integrity, and unwavering ethical responsibility. CARAIFA’s mission to uphold rigorous industry standards testifies to the critical importance of maintaining credibility and trustworthiness in every client interaction.

    Fourth, embrace technological innovation as your ally rather than your adversary. Digital transformation is reshaping financial services in ways we could scarcely imagine a decade ago. Whether leveraging data analytics to gain deeper client insights or utilising digital platforms for enhanced service delivery, technology should be viewed as a powerful enabler rather than a disruptive force. The more effectively you harness its capabilities, the more efficient and impactful your practice becomes. Now is the perfect moment to explore artificial intelligence and understand how it can dramatically enhance efficiency, productivity, and results, throughout the insurance industry.

    Fifth, adapt nimbly to our region’s changing economic environment. The Caribbean’s economic landscape continues to evolve rapidly. The average growth in Gross Written Premiums across various markets has been modest – 2 percent in Barbados, 3 percent in Belize, and 4 percent in the Eastern Caribbean – reflecting the persistent challenges we face in achieving robust economic expansion. As financial professionals, you must anticipate market shifts, develop sophisticated understanding of economic trends, and provide solutions that are not merely relevant but genuinely sustainable over time.

    Finally, and perhaps most importantly, bring others along on your journey to success. To borrow Monica’s profound personal motto, “You are remembered not by what you gathered, but by what you scattered.” Her wisdom embodies an essential truth. In the realm of insurance and financial services, success is often measured by metrics – policies written, revenue generated, profits earned. But the true measure of your legacy lies not in what you accumulate for yourself, but in the lasting impact you create in others’ lives. And impacting others’ lives positively is at the core of your business.

    Like the parable of the mustard seed – the smallest of all seeds that grows into a mighty tree providing shelter for many – each small act of service contains within it the potential for tremendous growth and impact. Every day presents opportunities to scatter seeds of service, to scatter seeds of mentorship, and to scatter seeds of kindness – seeds that, when nurtured, blossom into lasting relationships, thriving careers, and stronger communities.

    Just as the mustard seed’s greatness lies not in its size, but in its immense potential, your most significant contributions often begin as simple gestures of support. Whether providing mentorship to emerging professionals, engaging in community outreach, or leading by example, when you climb the ladder of success like Monica, you must extend a hand to pull others up alongside you. Remember always – from the smallest seeds come the most abundant harvests.

    Embracing Monica’s Legacy of Impact

    As I close and you reflect on the profound work you do, carry Monica’s powerful words in your heart: “You are remembered not by what you gathered, but by what you scattered.” Like her, your career represents far more than a job – it embodies a life-calling. Monica has shown us that true success lies in the lives you touch, in the colleagues you mentor, and in the communities you strengthen.

    You, like Monica, possess the power to transform countless lives by ensuring families remain financially secure, businesses continue to thrive, and communities build upon foundations of economic strength.

    You are unbreakable in your commitment to serving others, mirroring Monica’s steadfast resilience through challenges, from her humble beginnings to her emergence as an industry leader.

    You are unmovable in your dedication to financial empowerment, demonstrating the same resolve Monica showed when revitalising JAIFA’s headquarters and supporting seniors during the pandemic’s darkest hours.

    You are unstoppable in your pursuit of excellence, following Monica’s inspiring example of continuous growth from her early days at Life of Jamaica through earning prestigious designations and establishing new standards of achievement.

    As you move forward into tomorrow, know that, like Monica, the seeds you scatter today will grow into the forests of tomorrow. Let her extraordinary journey inspire you to see beyond numbers, beyond commissions, to the true, transformative impact of your work. May this congress serve as a catalyst igniting renewed passion, deeper knowledge, and even greater commitment to your noble profession – a commitment to being remembered not by what you gather, but by what you scatter.

    Together, embracing Monica’s spirit of service and excellence, and guided by the wisdom of the mustard seed parable, let us continue building a Caribbean that stands financially resilient, well-insured, and confidently prepared for whatever the future may bring.

    Thank you, and may this evening’s stars light your path forward.

    Enjoy your 36th congress.

    I thank you!

    MIL OSI Global Banks –

  • MIL-OSI Banking: Rosanna Costa: The power of data for a smart world

    Source: Bank for International Settlements

    Good morning, ladies and gentlemen.

    It is an honor and a privilege to welcome you to the Sixth Statistics Conference of the Central Bank of Chile, which we are hosting in a particularly meaningful year for our institution as we celebrate its centennial. Over the past 100 years, the evolution of the economy-and of statistics in particular-has been closely interlocked with dynamic and ever-changing environments and faced with a future that is advancing rapidly and full of promising and challenging changes.

    This sixth edition of the Statistics Conference, whose title – “The Power of Data for a Smart World”- resonates strongly in this moment of our history. If there is one lesson the past century has taught us, it is that knowledge, grounded in solid information and rigorous analysis, guides the path to progress and stability. We are also opening the window to new developments that offer us opportunities and challenges, because they provide tools, but at the same time demand more information, of better quality and greater timeliness.

    In recognition of these one hundred years, I would like to revisit them through the lens of statistics-and from there, open the door to the next century.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Abdul Rasheed Ghaffour: The changing landscape and talent development initiatives for Malaysia’s financial sector

    Source: Bank for International Settlements

    It is a privilege to stand before you at this conferment ceremony, where we celebrate the achievements of more than 600 individuals who demonstrated dedication and outstanding achievement in banking. We are also honouring the conferment of Honorary Fellowship to Governor Eli, and paying tribute to the lifetime achievement of Tan Sri Azman Hashim, Fellow Chartered Banker (FCB), both outstanding individuals who have made immense contributions and shown commitment to excellence, which we can all strive to emulate.

    About a month ago, we welcomed our regional partners for the ASEAN meetings. We had the opportunity to engage deeply on the region’s most pressing challenges, namely the uncertainty from the US tariff announcements, the acceleration of digital transformation and the urgency of promoting sustainability practices.

    These challenges underscore the critical need for the financial sector to adapt and evolve in response to an ever-changing landscape. To navigate these complexities, continuous investments in talent are not merely an option but a necessity. By equipping our workforce with the necessary skills and knowledge, we empower them to transform challenges into opportunities and drive our economy forward. The knowledge, devotion and tenacity that have brought all conferees together today are the essential foundations that will propel Malaysia to greater heights.

    Global trade uncertainty, digitalisation and sustainability will shape the financial sector landscape in Malaysia

    Ladies and gentlemen,

    Our banking sector has been no stranger to formidable challenges. Yet, in recent years, we have been faced with transformative forces that could redefine the landscape of banking. Allow me to expand on three pivotal areas which I mentioned earlier: economic uncertainty, digital transformation and sustainability, and their implications on the banking sector workforce.

    As I speak, global trade uncertainty continues to persist, arising from a growing push for greater protectionism and a shift away from globalised supply chains. As a small open economy, the escalation in trade tensions and global policy uncertainties will affect Malaysia. However, we are facing this from a position of strength. Our economy will continue to grow, anchored by continued household spending and steady expansion in investment activities. Externally, resilient underlying demand for E&E goods and a sustained momentum of tourism activity can cushion the impact of tariffs on our exports. Malaysia’s diversified product and export markets further underscore our resilience against external shocks.

    These shifts in economic outlook remind us that the global landscape is ever-changing, underscoring the need for resilience and adaptability in the face of these headwinds.

    On this, the banking sector plays a critical role in allocating capital efficiently to support economic growth and transformation. We have demonstrated robust expertise in traditional areas such as retail segments (mortgages and personal finance), as well as other mature corporate industries. However, as the financial landscape evolves, new opportunities are emerging that remain underexplored, offering potential for growth and innovation. Financing of trading activities such as shipping, aviation or aerospace, investments in data centres, and other high-growth industries, represent untapped avenues that could contribute meaningfully to our economic development. By broadening their focus and addressing these gaps, the banking sector can better position businesses to compete effectively on a global stage.

    In the wake of global trade uncertainties, the banking sector’s role in supporting domestic businesses becomes more pronounced. Banks must collaborate with industry players to identify new opportunities, leveraging on both financial expertise and industry insights. A workforce adept at risk management, market analysis and client advisory enables banks to offer innovative financial solutions to help businesses stay ahead.

    The next transformative force is the increasing pace of technological breakthroughs, a trend underpinned by the proliferation of artificial intelligence (AI), data and automation. The Malaysian banking sector has increasingly leveraged AI and automation for risk management, fraud detection and complex analysis to enhance operational efficiency and strengthen security. The use of AI-powered chatbots and virtual assistants has also allowed customers to benefit from enhanced and personalised customer experiences, often without the need to visit a bank branch.

    While technology has clear benefits for the financial sector, it needs to be adopted responsibly, balancing efficiency with risk management. Senior leaders in the banking sector have themselves expressed increasing concerns about new vulnerabilities introduced from AI adoption, such as cybersecurity, legal uncertainty related to operations, difficulties in controlling outcome accuracy and prejudice from model bias.1 The banking sector’s shift to leverage technology, in particular AI, to remain competitive must be underpinned by strong governance frameworks, stringent data privacy protections and the highest ethical standards across the workforce. To ensure responsible adoption of AI, banks need to develop an understanding of both the opportunities and risks associated with AI, and invest in training programmes to enhance AI awareness, create an organisation-wide culture of responsible AI adoption and help employees recognise potential risks.

    Let’s now turn to the third critical area: sustainable finance and environmental, social and governance considerations. This year’s ASEAN Chairmanship theme on sustainability underscores the region’s commitment to equitable growth and environmental stewardship.

    At our meeting in Milan earlier this month, the ASEAN+3 finance ministers and central bank governors reaffirmed our commitment to collaborate on transition finance, disaster risk financing, and climate resilience. The meeting also recognised the need to channel greater capital flows into green and sustainable projects, including large-scale regional initiatives such as the ASEAN Power Grid (APG) being pursued as part of our chairing of ASEAN this year. A report by AMRO highlighted that Southeast Asia will require over USD200 billion annually in climate-related investments to achieve its net-zero targets.

    As we delve into this important area, it is evident that these are not just environmental imperatives, but instead, a strategic priority area across the region. Therefore, the banking sector must integrate ESG factors into their core operations and decision-making. Banks play a pivotal role in channelling financial solutions and capital towards projects that are not only economically viable, but also environmentally and socially responsible. For example, the increasing importance of blended finance as a key lever in scaling up climate-aligned and impact-driven investment will require bankers to build skills that go beyond standard credit risk assessment. This shift requires a banking sector workforce which is well-equipped with the right knowledge and expertise to be able to not only reduce credit risk for lenders, but also contribute meaningfully to advancing sustainability priorities and meeting ambitious climate goals. 

    Significant efforts have been undertaken by talent affiliates, while more can be done by the industry to collectively upskill the workforce

    Ladies and gentlemen,

    Malaysia has invested significantly in developing talent in our financial sector. Over the years, we have developed a comprehensive ecosystem of talent affiliates providing training, certification and future-looking guidance on the skills needed by the financial sector. On this, I would like to take a moment to applaud the Asian Institute of Chartered Bankers (AICB), Islamic Banking and Finance Institute Malaysia (IBFIM) and Asian Institute of Insurance (AII) for their commitment in driving the development and encouraging the implementation of the Financial Sector Future Skills Framework (FSF) since its launch in July 2024. I also wish to highlight the important role played by financial institutions to further complement these efforts through their respective learning and development academies.

    While the financial services industry benefits from a good talent development ecosystem, more collective actions are needed to future-proof the workforce. In an era of rapid transformation, the question remains: Is the industry investing enough in talent to meet evolving business needs and remain competitive?

    With the FSF as a common dictionary on skills critical for the future, I call on the banking sector to accelerate efforts to foster knowledge acquisition in areas that are relevant to address both current industry challenges and needs, as well as emerging trends to prepare professionals for future opportunities. This includes building a deep understanding of the unique financial requirements of sectors that will catapult the growth of the Malaysian economy, and in tandem, enhancing technical skills in credit risk assessment for these sectors to ensure financing decisions are made sustainably. Additionally, training should also focus towards building capacity to address regional financing demands, particularly in infrastructure financing and blended financing, to support the long-term economic growth of the region. By equipping banking professionals with advanced capabilities and specialised expertise, the financial sector can proactively respond to emerging opportunities, ensuring its readiness to meet evolving economic challenges and contribute to Malaysia’s regional competitiveness.

    Equally important is the need to continuously nurture ethical and principled bankers who uphold the highest standards of integrity. In a rapidly changing financial landscape, the foundation of trust and accountability is indispensable for ensuring the sector’s long-term sustainability and resilience. AICB, alongside industry leaders, must emphasise the development of bankers who embody professionalism, ethical conduct, and a commitment to responsible practices.

    In closing, I would like to once again congratulate all conferees today. Your individual commitment to self development and dedication towards embodying the values of integrity, professionalism and expertise will collectively elevate the banking sector. Your achievement today is setting a benchmark for the industry and will hopefully inspire many others to follow in your footsteps.

    To Governor Eli, today’s honorary conferment recognises your exemplary leadership, transformative contribution and excellence within our profession. Through his previous role in the Bank for International Settlements (BIS), Governor Eli advanced research and discussions on regional and international finance, and has been recognised as one of the top-performing central bank governors globally in his current role. As a former professor and director at the Asia School of Business (ASB), Governor Eli has also significantly contributed towards strengthening central banking education through the development of the Master’s in Central Banking course.

    To Tan Sri Azman Hashim, the Lifetime Achievement Award is a fitting honour to an industry heavyweight whose visionary contributions have profoundly shaped and advanced the Malaysian banking sector.

    Malaysia’s financial system is renowned for its resilience, innovation and sound governance. But the true strength behind this success is our people. I end with a simple quote from Jack Welch, the CEO of General Electric for more than twenty years, ‘The most important job you have is growing your people’.

    Thank you, and I wish all of you a fruitful journey ahead.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Kevin Greenidge: Strong regulation is the foundation for financial stability

    Source: Bank for International Settlements

    Distinguished representatives from the Association of Supervisors of Banks of the Americas (ASBA), esteemed participants from regional supervisory authorities, valued colleagues from the Central Bank of Barbados, good morning.

    It is a pleasure for the Central Bank of Barbados to host this Bank Analysis and Examination Course in collaboration with ASBA.  And I am delighted to chat with such a highly experienced group of professionals, all committed to enhancing our collective expertise in bank supervision with a shared goal of preserving financial stability across our respective jurisdictions.

    I thank ASBA for its invaluable support and dedication in organising this training. And I commend your continued commitment to strengthening financial supervision. This training ensures that the knowledge and skills of our member jurisdictions remain relevant, dynamic, and world-class. Your contributions align with our common objective as regulators to foster a stable and sustainable financial sector. I am confident that I echo the sentiments of many in expressing our deep appreciation for this enduring partnership and the opportunities it provides.

    ASBA’s work has helped us maintain international excellence in our regulatory standards. As an associate member for over 20 years, the Central Bank of Barbados has actively engaged in ASBA’s initiatives such as training programmes, policy discussions, and knowledge sharing, all aimed at enhancing regulation and supervision across the Americas, the Caribbean, and Spain.

    In 2002 and 2011, the Central Bank of Barbados proudly hosted Bank Analysis and Examination courses, as well as a course on Consolidated Supervision in 2014, amongst others. Over the years, our officers have also participated in a range of training courses. This continued engagement has enabled our supervisory teams to sharpen their skills and ensure that our risk-based supervision techniques remain aligned with the evolving financial landscape.

    Regulation in Barbados

    Strong regulation is the foundation for financial stability. It provides the framework through which supervisory authorities can identify, assess, and contain the risks facing the financial sector. This stability is essential to ensuring that institutions continue to provide the financial services that underpin economic activity.

    As the principal financial regulator in Barbados, the Central Bank plays a central role in upholding financial stability. The Bank Supervision Department was established in 1974 in accordance with the statutory mandate given by the Central Bank Act to supervise the operations of commercial banks and other financial institutions. The department seeks to ensure that licensed institutions function in a safe and sound manner, and in so doing to contribute to a sound economic and financial environment. We’ve built our regulatory approach on a solid foundation of legislation, supervisory frameworks, and guidelines, which are supported by a diverse and capable team that is further strengthened by developmental opportunities such as this course. 

    Risk-Based Supervision

    We’ve grounded our supervisory practices in the principles established by the Basel Committee on Banking Supervision. These core principles inform our Risk-Based Supervision (RBS) approach – a methodology that evaluates financial institutions based on the key inherent risks within their activities, and the quality of their risk management in response to those threats. Risk-based supervision enables us to prioritise our resources effectively by focusing on the areas that matter most.

    Purpose of the Course

    Foundational training such as this is critical, especially since bank examination is a multifaceted and dynamic discipline that demands strong analytical grounding, sound judgement and the ability to adapt with the evolving risk landscape. This course aligns seamlessly with the core principles of bank supervision, which emphasises the need for forward-looking risk-based supervision, robust supervisory frameworks and continuous capacity building. These principles are refined from time to time to accommodate emerging risks and ultimately strengthening supervisory effectiveness. 

    We welcome the timely and essential integration of key financial assessment characteristics into this training, specifically through ASBA’s CAMELS rating system – a proven benchmark for evaluating the health and stability of financial institutions.

    It will equip participants with tools and techniques to conduct in-depth analyses of financial institutions, identify vulnerabilities, and assess their resilience leading to stronger and more informed supervisory decisions. 

    I note that the administration of the course will be two-fold consisting of a theoretical foundation followed by a practical simulation of a bank inspection to reinforce the concepts through real-world application. 

    Concluding Remarks

    Over the coming days, you will explore the methodology behind the CAMELS framework as applied by the U.S. Federal Reserve. The insights gained will serve to enhance your ability to conduct risk-based assessments, contributing to more prudent and forward-looking supervisory practices.

    I encourage all participants to actively engage in the discussions, share experiences, and make full use of the expertise in the room. Your dedication to strengthening financial oversight is critical to the continued resilience of our financial systems.

    Thank you once again to ASBA, our organisers, and to each of you for your commitment and participation. I wish you all a productive and rewarding training experience.

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Architect team appointed for Civic Centre

    Source: City of Plymouth

    Meet the team tasked with the job of shaping the future of Plymouth’s Civic Centre.

    Councillor Mark Lowry, Cabinet Member for Finance, Matthew Mayes and Mark Braund from BDP, Councillor Sally Cresswell, Cabinet Member for Education, Skills and Apprenticeships, Sheila Nethercott, Strategic Project Manager at the Council.

    Multidisciplinary design consultancy, BDP, has been appointed to lead the project to transform the landmark building into a Blue Green Skills Hub in the basement, ground and first floor as well as create more than 140 homes in the tower above.

    While City College Plymouth has its own architect to oversee the transformation of the lower floors, BDP will be responsible for ensuring the design successfully separates the education establishment from living quarters.

    It will also act as the Building Regulations Principal Designer ensuring the entire project complies with the Building Safety Act.

    Cabinet member for finance and city centre champion Councillor Mark Lowry said: “We were really impressed with their record of tackling difficult buildings and making sure that developments comply with all the latest regulations which are designed to keep people safe.

    “This landmark towers above the city – it is so important to our regeneration story, but it is not an easy building, so we are delighted to have such a high calibre team help us to achieve this vision.”

    BDP has worked on a number of landmark Plymouth projects in the past, including the University of Plymouth’s stunning Roland Levinsky building and the Theatre Royal regeneration project completed in 2013 which saw new facilities created in the basement as well as its public realm improvements.

    Its portfolio includes challenging projects such the redevelopment of the Grade II listed Weir Mill in Stockport and the architectural design of Preston Bus Station – described as one of the most significant Brutalist buildings in the UK.

    Matthew Mayes, architect director at BDP, said: “The Civic Centre’s transformation is a pivotal step in re-energising the city centre. This project presents an exciting opportunity to breathe new life into a historically significant building, reconnecting it with Royal Parade and Armada Way, and creating a vibrant, inclusive destination for learning, enterprise and community use.

    “We believe cities should be good for us and we have a long history of unlocking the potential of complex buildings to bring them back into use, and this is exactly the kind of challenge that drives us. Our goal is to create thriving, future-ready places, and we know this redevelopment will play a defining role in Plymouth’s next chapter.”

    The complexity of the redevelopment means other professionals have already been employed by the council to look at how best to turn the building – which used to be offices – into homes and an education establishment.

    Issues such as power supplies, separate access, lifts, power, ventilation, insulation all have to be addressed as part of the project. A new planning application will also have to be submitted later this year as detail from the original application has changed.

    Gwella Contracting Services continue the strip out works on site. This has been particularly challenging in the Civic Centre because of the building’s age and the fact there are currently no lifts in the 12-storey tower, which means that all waste material must be carried down the stairs.

    The Civic Centre redevelopment is being made possible thanks to the Government’s Future High Streets Fund, Levelling Up Fund and Homes England.

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Removing Trade Barriers With Other Provinces, Federal Government

    Source: Government of Canada regional news

    Trade barriers between Nova Scotia, several provinces and the federal government will soon be removed.

    Nova Scotia, along with Alberta, British Columbia, Manitoba, Ontario and Prince Edward Island have taken action to remove barriers and red tape that will open up new trade and investment opportunities. It is also anticipated that the federal government will do the same.

    “Removing these barriers will open up new opportunities for Nova Scotian businesses and help grow our economy – that means more jobs for Nova Scotians,” said Premier Tim Houston. “This is how Nova Scotia and Canada can be more economically secure.”

    The barriers being removed by Nova Scotia focus on three key areas:

    • ending Canadian Free Trade Agreement exemptions that limit interprovincial trade with Nova Scotia
    • allowing goods or services that are legally sold, used or provided in another province to automatically be able to be sold/used/provided in Nova Scotia without having to meet Nova Scotia’s specific labelling, packaging, certification or inspection requirements
    • removing labour mobility barriers by requiring regulators to process equivalent licences within 10 business days and restricting application requirements to evidence of good standing and liability insurance.

    The Province introduced the Free Trade and Mobility within Canada Act in February 2025 to help create mutual recognition of goods, services and labour mobility between Nova Scotia and other jurisdictions in Canada. The act allows the Province to remove barriers to trade and investment with others that will do the same for Nova Scotia.

    Nova Scotia’s removal of trade barriers with Alberta and P.E.I. comes into effect immediately, while barriers with the other provinces and federal government will be removed upon proclamation of their equivalent legislation.

    Quotes:

    “Alberta is proud to stand alongside Nova Scotia in advancing a more open and co-operative Canadian economy. I commend Premier Tim Houston and the Nova Scotia government for taking meaningful action to support freer trade within Canada. By recognizing Alberta-approved goods without additional red tape, Nova Scotia is showing leadership that supports businesses, strengthens interprovincial ties and moves us closer to the internal trade framework Canadians expect and deserve.”
    — Danielle Smith, Premier of Alberta

    “With tariffs and tariff threats taking aim at Canada’s workers and businesses, it’s never been more important for us to work together from coast to coast to tear down internal trade barriers so we can make Canada stronger and more united than ever before. We’re going to keep working with our federal, provincial and territorial partners to unlock economic opportunity and build a more competitive, resilient and prosperous country that can stand up to tariffs and anything else that comes our way.”
    — Doug Ford, Premier of Ontario

    “This announcement is one of the first tangible steps in adopting mutual recognition policy and breaking down interprovincial trade barriers, showing that the Premier and his government are serious about free trade within Canada. Simply put, this is good news for small businesses in our province. Now, eight in 10 small businesses across Canada are looking to their provinces to take the necessary steps to follow Nova Scotia’s lead.”
    — Duncan Robertson, Director of Legislative Affairs (Nova Scotia), Canadian Federation of Independent Business

    Quick Facts:

    • interprovincial exports contribute about 17 per cent of Nova Scotia’s gross domestic product
    • interprovincial exports make up about half of Nova Scotia’s total exports (about 48 per cent of all goods and services)
    • in 2023, the value of Nova Scotia’s interprovincial exports was nearly $29 billion
    • one-third of Canadian businesses participated in internal trade by buying or selling goods across provincial or territorial borders
    • more than $530 billion worth of goods and services moves across provincial and territorial borders every year – equal to 20 per cent of Canada’s gross domestic product

    Additional Resources:

    Free Trade and Mobility within Canada Act: https://nslegislature.ca/sites/default/files/legc/statutes/free%20trade%20and%20mobility%20within%20canada.pdf

    MIL OSI Canada News –

  • MIL-OSI USA: Speaker Johnson Joins Meet the Press

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — This morning, Speaker Johnson joined Kristen Welker on NBC’s Meet the Press to further dispel myths about the One Big Beautiful Bill.

    “The One Big Beautiful Bill is a big first step to provide relief for the American people, to give everybody more take home pay, more money in their pocket, and to change the trajectory of the country,” Speaker Johnson said. “And again, it’s the first of a number of steps. And President Trump is committed to doing this.”

    Watch the full interview here

    On the CBO discounting economic growth:

    The CBO sometimes gets projections correct, but they’re always off every single time when they project economic growth. They always underestimate the growth that will be brought about by tax cuts and reduction in regulations. When we did this in 2017, the first two years of the Trump administration, we literally brought about the greatest economy in the history of the world, not just the US. Because we got the government off the backs of the people who create the jobs. And we’ve allowed hardworking Americans to have more money in their pocket that they could take home. We’re doing that again. Remember in this big beautiful bill, the reason we call it that is because there’s benefits for everybody. It’s geared for hardworking Americans, lower and middle income Americans. No tax on tips, no tax on overtime, no tax on interest on car loans if you buy products made in the USA.

    We’re going to give relief to seniors on social security. There’s so many benefits and features in this bill, and it’s going to allow everybody to do better. And at the same time, projecting and ensuring the largest amount of savings literally in history. There’s no government on planet Earth that’s ever saved over $1.6 trillion in a piece of legislation. This one does. And so when you reduce government spending and you allow people to keep more of their hard-earned money, the economy grows. And that’s exactly what’s going to happen here.

    On Republican efforts to strengthen Medicaid:

    There are no Medicaid cuts in the big beautiful bill. We we’re not cutting Medicaid. What we’re doing is strengthening the program. We’re reducing fraud, waste, and abuse that is rampant in Medicaid to ensure that program, which is essential for so many people, ensure that it’s available for the most vulnerable. It’s intended for young, single pregnant women and the disabled and the elderly. But what’s happening right now is you have a lot of people, for example, young men, able-bodied workers who are on Medicaid. They’re not working when they can; that drains resources from the people that need it most. And so, what we’re doing here is an important and frankly, heroic thing to preserve the program so that it doesn’t become insolvent. This is not going to hurt rural hospitals. There’s a lot of flex flexibility built into this.

    They keep saying that, you know, 7.6 million people is the figure that are supposedly going to be affected by this. But when you look at those numbers and you break them down, this is high on public opinion polling, you’re talking about 1.4 million illegal aliens that are receiving Medicaid right now. They’re not entitled to that. This is for US citizens in those vulnerable populations. There’s about 4.8 million people that they’re referring to that are able-bodied workers. If you are able to work and you’re not, and you are riding on the public wagon, you need to help pull it. And by the way, Kristen, this is no draconian requirement. All we are requiring in the legislation is 20 hours a week. You can volunteer in your community. You can be in a job training program or you can get to work.

    On Democrat lies about “millionaire” tax cuts:

    That’s a Democrat talking point. This is not giving tax cuts to millionaires. It’s the opposite. The people in the tax bracket that you’re referring to, many of them are small business owners. They are the people that provide the jobs in every community in America. They use pass through taxation. And, we don’t want to to get in the weeds, we don’t have time to get into the complications of it, but we are the party that reduces taxes for all Americans. And I’m telling you, the one big beautiful bill is geared for hardworking Americans. The biggest beneficiaries of this will be low and middle income Americans. That’s what we did in the Tax Cuts and Jobs Act. That’s what we’ll do again, by extending those tax cuts in perpetuity and making them permanent. That was a major promise of the president on the campaign trail. It’s a major promise of ours and we are going to fulfill it. The Republican Party is doing right by the American people and they’re going to feel the effects of that soon.

    ###

    MIL OSI USA News –

  • MIL-OSI Europe: LIFE awards go to projects working on nature, circular economy and climate action

    Source: European Union 2

    The EU’s LIFE awards 2025 have honoured 3 projects doing pioneering work in nature, circular economy and climate action. LIFE Lynx took a prize for helping to reverse the decline of lynxes, LIFEPOPWAT for depolluting contaminated water and LIFE DESERT-ADAPT for tackling desertification.

    MIL OSI Europe News –

  • MIL-OSI USA: In Appropriations Hearing, Durbin Calls Out Secretary McMahon For Eliminating Support For Students Defrauded By For-Profit Colleges

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    June 03, 2025
    As Secretary McMahon attempted to deflect Durbin’s questions, Durbin asserted that the Trump Administration is eliminating critical student protections
    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), a member of the Senate Appropriations Committee, today participated in a Labor, Health and Human Services, Education, and Related Agencies Appropriations Subcommittee hearing to review the President’s Fiscal Year 2026 Budget Request for the Department of Education (ED).  During the hearing, Durbin questioned Secretary of Education Linda McMahon about how ED is supporting students defrauded by for-profit colleges.
    Durbin began by underscoring the harm done by for-profit colleges, reminding Secretary McMahon that while for-profit colleges enroll only eight percent of American college students, those students account for 30 percent of all student loan defaults. 
    “The problem is the difficulty students face [after attending a for-profit college] becomes a lifetime problem.  Imagine a first-generation college student trying to pick a place to go to school, inundated in high school with glossy brochures from for-profit colleges and universities, which promise the sun, the moon, and the stars,” Durbin said.  “The student goes and learns there are Pell grants available through for-profit colleges and universities.  They hear the promises that if they just attend this school and graduate, there’s going to be a good paying job at the end of the rainbow, and it turns out, it’s all phony.”
    “They are being deluded and deceived. There is much more scam than there is scholarship… So most of them, or at least 30 percent of them, end up with loans they can’t pay back.  They never see that job that was promised to them.  But they’ve got one last place [ED] to turn to and try to get their lives back on track,” Durbin said.  “I have heard their stories from them.”
    Durbin then asked Secretary McMahon about ED’s efforts to support students defrauded by for-profit colleges by allowing students to file borrower defense claims.
    “You have a department within the Department of Education for borrower defense.  Are you familiar with that?… Can you tell me what you understand the borrower defense law to promise?”Durbin asked Secretary McMahon.
    Rather than answer Durbin’s question, Secretary McMahon deflected by arguing that many non-profit universities and colleges also promise to help students secure a job after graduation.  Secretary McMahon did acknowledge that college affordability is a major obstacle for students, forcing them to take on significant student debt despite President Trump’s budget request asking to slash Pell grants by nearly $1,700 and gutting programs like TRIO and Gear Up that help first-generation and low-income college students enroll and complete their college degree.
    However, as Durbin said in pushing back against Secretary McMahon’s indirect answer, for-profit colleges rarely deliver respected or marketable degrees to students, giving them little chance to secure a job as they attempt to pay off their mountain of student debt.
    “The point that I’m making is there is one brand of college and university that is particularly egregious when it comes to deceiving these students.  It’s for-profit colleges and universities.  Eight percent of [American college students], 30 percent of student loan defaults… It stands out from all the rest,” Durbin said.
    “The point I’m getting to is you’re hollowing out the borrower defense agency within your own department.  This is supposed to be the rescue for these students to finally get back on track and maybe go to a good school.  Why would you hollow out the resources there and the people that are enforcing the borrower defense rule when we have these terrible numbers of exploitation of students?” Durbin asked Secretary McMahon.
    Secretary McMahon replied, “we shouldn’t just focus on those [for-profit] schools.  I totally agree with you, there are some scam universities out there.”
    “Why would you hollow out the people who are supposed to enforce it?” Durbin countered.  “Give me an idea of what you’re putting in place that’s better than the borrower defense rule.”
    As Secretary McMahon ineffectively argued that the Free Application for Federal Student Aid (FAFSA) would help students understand the threat of for-profit colleges, Durbin pushed for answers about how ED is supporting students who have already become victims of for-profit colleges.
    “I’m talking about the victims.  The ones who are already victims.  They’re in debt by tens of thousands of dollars,” Durbin said.  “They have no place to turn, and you’re telling me the FAFSA form is going to help them?  How can it help them?”
    Secretary McMahon replied, “that’s not in place yet, but I think that’s going to be very, very helpful.  Here’s the other thing.  Where are guidance counselors in high schools?”
    “Good question!” Durbin replied.  “You’re cutting the number of counselors in these schools at the same time.”
    “The counselors that are doing their jobs can provide information to these students,” Secretary McMahon said.
    “There aren’t enough of them.  That’s the point I’m making.  The situation is terrible for these students.  First generation students are being exploited by these schools.  They need your protection.  They need our protection.  They deserve it,” Durbin said.  “Unfortunately, you’re reducing the number of people to enforce the law.”
    The Trump Administration has made moves to dismantle ED, firing more than 1,300 staff and signing an Executive Order to demolish ED.  Last month, House Republicans included a provision in the reconciliation bill to roll back the Biden-era borrower defense rule that allowed for full debt relief, addressing a wider range of school misconduct, and allowing group claims rather than individual applications.  If passed by the Senate, the reconciliation bill will replace the Biden-era borrower defense rule with the rule instituted under the first Trump Administration, requiring borrowers to meet a higher bar to receive relief by showing they suffered financial harm from their college’s misconduct and that the college knowingly made deceptive or false statements.
    For 11 years, Durbin has written to high school guidance counselors, teachers, and principals, urging them to warn students of the risks associated with attending for-profit colleges.
    Video of Durbin’s questions in Committee is available here.
    Audio of Durbin’s questions in Committee is available here.
    Footage of Durbin’s question in Committee is available here for TV stations.
    -30-

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Govt bonds worth $27b issued

    Source: Hong Kong Information Services

    The Hong Kong Special Administrative Region Government today announced the successful pricing of approximately HK$27 billion worth of green bonds and infrastructure bonds denominated in Hong Kong dollars (HKD), renminbi, US dollars and euro under the Government Sustainable Bond Programme and the Infrastructure Bond Programme.

    The issuance of green bonds aims to attract and channel market capital to support green projects, promoting sustainable development in Hong Kong.

    Meanwhile, infrastructure bonds help accelerate the development of projects such as the Northern Metropolis, and facilitate the early completion of projects for the good of the economy and people’s livelihood.

    Following a virtual roadshow on June 2, the bonds were priced on June 3 as follows:

    • 5 billion 30-year infrastructure tranche at 3.85%;
    • RMB4 billion 20-year green tranche at 2.6%;
    • RMB4 billion 30-year infrastructure tranche at 2.7%;
    • USD1 billion five-year green tranche at 4.151%; and
    • EUR1 billion eight-year green tranche at 3.155%.

    The offering attracted participation from over 30 markets across Asia, Europe, the Middle East and the Americas, with the total order amounting around HK$237 billion equivalent, representing a subscription ratio of around 3.3 to 12.5 times.

    The Hong Kong Monetary Authority highlighted that the HKD 30-year bond, offered for the first time by the Hong Kong SAR Government, is the longest tenor HKD bond issued by the Hong Kong SAR Government so far.

    The 20-year and 30-year RMB bonds also received overwhelming support, doubling in issuance size from last year.

    Financial Secretary Paul Chan said: “Global institutional investors responded enthusiastically to the subscription, fully reflecting their confidence in Hong Kong’s sound public finance and long-term development.

    “The inaugural offering of the 30-year HKD government bonds helps to extend the HKD benchmark yield curve, further promoting the development of the local bond market.”

    The green bonds and infrastructure bonds are expected to be settled on June 10, and listed on the Hong Kong Stock Exchange as well as the London Stock Exchange.

    These bonds have been assigned credit ratings of AA+ by S&P Global Ratings and AA- by Fitch.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Warren, Senators Demand Explanation After Trump Admin Greenlights Giant Rocket-Redfin Merger, Warn of Potential Price Hikes for American Homebuyers

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    June 04, 2025
    Rocket has a history of anticompetitive behavior in the housing industry
    “At a time when families already face a housing affordability crisis, these deals…may reduce choice and raise prices for American families in the housing market.” 
    Text of Letter (PDF)
    Washington, D.C. — U.S. Senators Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, Cory Booker (D-N.J.), Ranking Member of the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, Mazie Hirono (D-Hawaii), Bernie Sanders (I-Vt.), and Tina Smith (D-Minn.) wrote to the Department of Justice’s (DOJ) Antitrust Division and to the Federal Trade Commission (FTC) seeking an explanation for the agencies’ failure to challenge Rocket Companies’ (Rocket) recent acquisition of Redfin, which creates a massive housing company that threatens to reduce choice and raise prices for American families in the housing market. 
    This merger allows Rocket, an online mortgage lending and real estate platform, to exert even greater control over each step of the homebuying process by taking over Redfin, a popular real estate search platform, and Mr. Cooper, the nation’s largest mortgage servicing firm. On May 8, 2025, the Trump Administration allowed the merger waiting period to expire without taking action to block or review the transaction. 
    After the Rocket-Redfin merger is completed, Rocket will have the power to steer Redfin users to Rocket’s real estate agents, limiting business for local, independent agents and brokerages. Rocket could also discourage Redfin users from comparison shopping for better mortgage offers by steering homebuyers to Rocket’s mortgages. Comparison shopping has been shown to save homebuyers an average of $76,410 over a 30-year mortgage.
    In addition, Rocket’s acquisition of Mr. Cooper will create a mortgage finance behemoth. By acquiring seven million mortgage servicing clients, Rocket would have a reduced need to compete for new customers. Altogether, with these acquisitions, Rocket would triple its current client base and control one in six mortgages in the United States. Rocket’s efforts to consolidate and control the homebuying market onto a single online platform sets a dangerous precedent for consumers, the industry, and the U.S. housing market as a whole at a time when house prices and mortgage rates continue to rise.
    Rocket has a history of anticompetitive efforts to steer homebuyers to its products. The Consumer Financial Protection Bureau (CFPB) sued Rocket in 2024 for allegedly steering homebuyers into purchasing Rocket mortgages and charging higher rates and fees. The CFPB dropped the lawsuit just three weeks after President Trump installed new leadership at the agency. 
    Under the DOJ and FTC’s merger enforcement guidelines, the acquisitions raise multiple concerns, including: 
    Under Guideline 6, which warns that “mergers can violate the law when they entrench or extend a dominant position”; 
    Under Guideline 7, which directs the DOJ and FTC to “examine whether a trend toward consolidation in an industry would heighten … competition concerns”; 
    Under Guideline 8, which clarifies that “when a merger is part of a series of multiple acquisitions, the agencies may examine the whole series”; and 
    Under Guideline 9, which warns that “mergers involving platforms can threaten competition.” 
    “Rocket’s proposed acquisitions…create the potential for Rocket to steer homebuyers to its own products, hike prices based on private data, and block competition. We ask that you provide an explanation for your agencies’ failure to challenge the Rocket-Redfin merger during the premerger review period,” wrote the senators. 
    The lawmakers asked the two agencies to provide clarity on why they declined to challenge the merger by June 17, 2025. 

    MIL OSI USA News –

  • MIL-OSI: Deep MM CEO Nathaniel Powell to Present at Fixed Income Leaders Summit

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) — Deep MM, an AI-powered credit trading solution providing the most accurate U.S. pricing to the private credit market, has announced that its CEO and Founder Nathaniel Powell will be speaking on a panel about leveraging AI, ML and LLM technologies at Fixed Income Leaders Summit (FILS). The presentation – Spotlight on AI: How can you leverage AI, ML and LLM to distill complex datasets and empower trading and investment teams with unique actionable insights? – will be held on June 9 at 1 p.m. ET in Washington D.C. at the Omni Shoreham Hotel.  

    During the presentation Nathaniel will explore both the current and potential applications of AI and machine learning while highlighting how companies in the fixed income space can start deploying them. Attendees can expect to gain valuable insights into how LLM models can improve decision making and how to address the challenges that come with adopting this technology.  

    “AI, machine learning, and deep learning are making advances every day in the world’s economies, which is why there is no good reason for fixed income professionals to be left behind by them, as AI will have an outsized impact in capital markets,” said Nathaniel Powell, CEO and Founder of Deep MM.  “It is an honor that Deep MM was chosen to represent AI at FILS and I am excited to discuss the huge ROI potential for AI technology in fixed income trading.”

    Nathaniel and the Deep MM team will be available to meet at the company’s booth (Booth #50) for the duration of the conference – June 9-11.

    About Deep MM:

    Deep MM is an AI-powered credit trading solution that leverages advanced deep learning, trade secrets, and data analytics to enhance market performance and transparency. The company is pioneering large event models (LEMs), a new and important AI modality for financial and healthcare logistic scenarios. Currently its LEMs provide the most accurate U.S. corporate bond pricing and actionable insights for traders, sell-side dealers, and portfolio managers.

    Based in New York, the company features a team of seasoned experts from the world’s leading banks and tech firms, such as Goldman Sachs, Barclays, and Microsoft. For more information, please visit https://deepmarketmaking.com/.

    About Fixed Income Leaders Summit:

    Fixed Income Leaders Summit will bring together America’s leading buy side heads of fixed income trading and investment, with over 1000 attendees expected from across the full fixed income ecosystem, including representation from all the leading North American buy side firms For more information about the conference, please visit https://fixedincomeus.wbresearch.com/.

    Contact:
    Scott Rosenblum
    For Deep MM
    LEVEL PR
    scott@levelpr.co
    646-776-1222

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/11487d87-1e63-4fd8-bbae-f35fd2b6a9ae.

    The MIL Network –

  • MIL-OSI: Nasdaq Launches Exclusive Access to Nasdaq Private Market’s Tape D® API to Deliver Advanced Visibility into Private Markets

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) — Nasdaq® (Nasdaq: NDAQ) announced today that the company has partnered with Nasdaq Private Market (NPM), a leading provider of secondary liquidity solutions to private companies, employees, and investors, to provide greater price transparency and valuation visibility into private, pre-IPO companies, including unicorns and other startups through NPM’s Tape D® private company dataset.

    As the exclusive distributor of the Tape D API, Nasdaq is enhancing essential transparency and access to an increasingly complex private company landscape. Now available to Nasdaq clients through API integration via Nasdaq Data Link, Tape D addresses critical transparency challenges by helping investors evaluate private holdings with greater confidence, enabling banks to structure private transactions more effectively, supporting wealth advisors and shareholders in managing liquidity needs, and equipping private companies with valuable insights for capital raises and tender offers. This comprehensive data product delivers real-time private market pricing by seamlessly integrating primary round data, secondary market transactions, and accounting data including mutual fund marks and 409A valuations.

    “Nasdaq was founded on the principle of leveraging technology to make markets more efficient, and we are committed to driving the same transformation in private markets that we’ve achieved in public markets,” said Oliver Albers, Executive Vice President, Chief Product Officer, Capital Access Platforms at Nasdaq. “The collaboration with Nasdaq Private Market builds upon this foundation, reflecting Nasdaq’s continued commitment to creating an ecosystem where transparency, accessibility, and improved outcomes naturally extend across the entire investment lifecycle,” noted Albers.

    “The private market is now a critical arena for valuation, investment, and planning, and requires accurate, real-time data. With over 1,200 unicorns and billions in equity held by private shareholders, the need for a reliable valuation benchmark is greater than ever. Tape D brings essential clarity to private markets, and we are excited to partner with Nasdaq to broaden access to market participants,” said Marc Perkins, CFA, Senior Vice President of Product at Nasdaq Private Market. In addition to the Tape D API from Nasdaq, NPM offers individual subscriptions directly via NPM’s website.

    The launch of this data partnership with Nasdaq Private Market marks the latest step in Nasdaq’s commitment to enhancing transparency, access, and portfolio management capabilities across the public-to-private investment spectrum. This includes offerings such as Nasdaq Fund Secondaries, which bring greater efficiency, transparency, and scalability to secondary transactions. Nasdaq also delivers solutions designed to equip asset owners and asset allocators with essential research and portfolio management tools that span both public and private markets. These enhancements address specific market challenges, helping managers clearly articulate their value propositions to gather assets while giving allocators the visibility they need for confident decision making.

    For more information about accessing the Nasdaq Private Market Tape D Data API, please visit: https://www.nasdaq.com/solutions/data/equities/TAPED

    About Nasdaq
    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Nasdaq® is a registered trademarks of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED. © 2025. Nasdaq, Inc. All Rights Reserved.

    About Nasdaq Private Market
    Nasdaq Private Market provides liquidity, wealth and data solutions for private companies, employees, and investors throughout each stage of the pre-IPO lifecycle. Since inception over a decade ago, NPM has executed nearly $60 billion in transactional volume for 200,000+ individual eligible employee shareholders and investors across 775+ company-sponsored liquidity programs. Founded within Nasdaq, Inc. in 2013, today NPM is an independent company with strategic investments from Nasdaq, Allen & Company, Bank of America, BNP Paribas, Citi, DRW Venture Capital, Goldman Sachs, HiJoJo Partners, Morgan Stanley, UBS, and Wells Fargo.

    Learn more at www.nasdaqprivatemarket.com. Visit LinkedIn and X for the latest company news.

    Disclosures and Disclaimers

    NPM is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner and does not offer legal or financial advice to any user of the NPM website or its services. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, and member FINRA/SIPC. Transactions in securities conducted through NPM Securities, LLC are not listed or traded on The Nasdaq Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The Nasdaq Stock Market LLC. Please read these other important disclosures and disclaimers about NPM found here: https://www.nasdaqprivatemarket.com/disclosures-disclaimer/

    Contact:

    Max Leitenberger
    Corporate Communications, Nasdaq
    Maximilian.leitenberger@nasdaq.com

    Amanda Gold
    Chief of Staff and Chief People Officer, Nasdaq Private Market
    Amanda.Gold@npm.com

    The MIL Network –

  • MIL-OSI: SECU Awards Summer Camp Scholarships to 457 Youth Members Statewide

    Source: GlobeNewswire (MIL-OSI)

    RALEIGH, N.C., June 04, 2025 (GLOBE NEWSWIRE) — State Employees’ Credit Union (SECU) has concluded its fourth annual Summer Camp Awards campaign, granting $500 scholarships to 457 young members throughout North Carolina. Recipients were selected through random drawings, with one FAT CAT® and one Zard® winner per branch from all eligible entries. The scholarships will be used for the registration costs and associated fees at the summer camp chosen by each youth winner. Applicants submitted an illustration or essay about their dream camp experience to be entered into the contest.

    Since its launch in 2022 the program has provided scholarships totaling $508,000 to 1,016 FAT CAT and Zard members. Summer Camp Awards were established to encourage young members to expand their knowledge through fun and engaging summer camps and provide financial support to help youth families pursue these impactful opportunities.

    “Parks was very excited when he found out he was a Summer Camp Award winner,” said Michael Hamilton, father of Raleigh-Wakefield Branch winner Parks Hamilton. “For his entry, he drew a picture of pandas, bamboo, flowers, a hummingbird, a seagull, and volcanos – things he’s seen in Kung Fu Panda. He will be attending a Tae Kwon Do camp this summer and is really looking forward to it.”

    “We are so pleased to contribute to our young members’ summer camp experiences and continue our support for SECU families across the state through this beneficial program for a fourth consecutive year,” said SECU President and CEO Leigh Brady. “The educational opportunities afforded to youth through summer camps are so incredibly valuable, and I want to offer our sincere congratulations to this year’s winners!”

    About SECU

    A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 88 years. SECU is the second largest credit union in the United States with $55 billion in assets. It serves more than 2.8 million members through 275 branch offices, 1,100 ATMs, Member Services Support via phone, www.ncsecu.org, and the SECU Mobile App.

    Contact: Sandra Jones, Communications, sandra.jones@ncsecu.org

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/abc1b4f2-5bc3-43ff-a529-6a9cc87f6b17

    The MIL Network –

  • MIL-OSI Russia: IMF Staff Completes 2025 Article IV Mission to Malawi

    Source: IMF – News in Russian

    June 4, 2025

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    Washington, DC: An International Monetary Fund (IMF) team led by Justin Tyson visited Malawi from May 22 to June 3 to hold meetings with the Malawian authorities and other counterparts from the public and private sectors and civil society for the 2025 Article IV consultation. Discussions focused on policies to restore macroeconomic stability, and the structural reforms needed to foster strong, inclusive, and durable growth.

    Context, Macroeconomic Outlook, and Risks

    The Malawian economy has been buffeted by several shocks. Real GDP growth declined slightly to 1.8 percent in 2024 as a drought affected agricultural production, while foreign exchange and fuel shortages dampened economic activity. Over 20 percent of the population is facing high levels of food insecurity, up five percentage points over 2023. Headline inflation began easing in late-2024 and reaccelerated in early-2025 in the context of maize prices rising to historical levels, elevated money growth and an increasing official-parallel exchange rate spread.

    Fiscal and monetary policy has remained too accommodative. The FY2024/25 (April/March) fiscal balance fell short of budget targets and deteriorated relative to the previous year as revenue underperformed and expenditure ceilings were exceeded. Persistent and elevated domestic fiscal financing has fueled money growth and inflation, which in turn exerts pressure on the exchange rate. Monetary policy did not tighten sufficiently in the context of elevated government domestic borrowing. The broader reform momentum has been slowing.

    Consequently, domestic, and external imbalances worsened. The current account deficit expanded further to about 22 percent of GDP and gross reserves are critically low, pointing to an overvalued exchange rate. The official-parallel spread is wide and may reflect other factors beyond fundamentals. Malawi remains in external debt distress and domestic debt is growing.

    The macroeconomic outlook is subdued and dependent on the agricultural sector output and foreign grant support. Under current policies, the mission expects real GDP growth to be 2.4 percent in 2025 and gradually increase to 3.4 percent over the medium term. Inflation is projected to average 29 percent in 2025 and settle at around 14 percent over the medium term. The current account deficit is projected to improve to about 17 percent of GDP in 2025 based on lower fuel prices and a rebound in key exports. General elections, scheduled for September, have reinforced political-economy constraints to macroeconomic adjustment. After the expiry of the ECF arrangement, the Malawian authorities are designing a homegrown reform program.

    Risks are tilted to the downside. Lower-than-anticipated grant inflows and food production, additional global trade tensions, and delayed reforms could deepen macroeconomic instability. Greater-than-expected mining investment and production constitute an upside risk.

    Fiscal Policy

    Returning to a sustainable fiscal adjustment path is a priority. Tackling the rising interest bill will create space for domestically-financed investment and pro-poor spending, while also ameliorating the sovereign-bank nexus.

    Domestic revenue mobilization is urgently needed to achieve fiscal sustainability in an equitable way. This could be achieved through a combination of broadening the tax base and tax policy instruments (e.g., reducing exemptions, and personal and corporate income tax reform). Improving wage bill efficiency and rebalancing expenditures towards human capital and social protection could support these efforts.

    Staff welcomes public financial management improvements, which remain critical for strengthening fiscal governance and building public trust. The authorities have made progress in expanding the coverage of the Integrated Financial Management and Information System (IFMIS), bank reconciliations, and increasing the efficiency of public investment. Reform efforts should continue to, inter alia, enhance budget development, execution, and reporting, improve the procurement system, and strengthen State Owned Enterprises (SOE) oversight.

    Decisive steps are needed to restore debt sustainability. The authorities have achieved some progress with their bilateral creditors and continue to engage with their external commercial creditors to ensure that external debt is sustainable. Tangible progress on external debt restructuring could pave the way for new concessional inflows. This should be supported by steps to reduce the cost of domestic borrowing.

    Price Stability and Exchange Rate Policy

    Tighter fiscal and monetary policies would support disinflationary efforts and ease pressure on the exchange rate. High inflation hurts the economy in general, but especially the poorest and most vulnerable. A combination of more restrictive monetary policy and an urgent fiscal adjustment, including enhanced reporting on budget execution, could reduce broad money growth, support policy credibility and re-anchor inflation expectations. Structural constraints may also be contributing to entrenched inflation expectations.

    A unified and market clearing exchange rate is critical to reducing imbalances and supporting the authorities’ growth objectives. The current regime with a large and volatile spread between the parallel and official rate creates distortions, impedes exports, subsidizes some imports, and encourages informality and tax avoidance. Foreign direct investments and official aid flows are discouraged, and domestic revenues reduced. Eliminating these imbalances requires unifying the official and parallel exchange rates, at a level reflecting fundamentals and discounting speculative factors, and stabilizing the foreign exchange market. Consistency between the de facto exchange rate regime, the monetary policy framework and fiscal policy are needed to ensure sustainable growth.

    Financial Sector Policies

    The banking sector’s credit and foreign exchange risks should be monitored to preserve financial stability. While the sector is well-capitalized, liquid, and profitable, its significant exposure to government borrowing and the net foreign liabilities position within the banking sector require continued careful monitoring.

    Increased banking sector credit to the private sector would support economic growth. Fiscal adjustment would reduce crowding out of private sector due to public borrowing and support export-oriented investment. In addition, a lower inflation and interest rate environment would further support credit to businesses.

    Structural Reforms

    Improving the investment climate would help attract investment, diversify the economy, and move up the value chain. Sustained multi-year prudent fiscal policies and removing price distortions (e.g., re-activating the automatic fuel price mechanism) would bolster policy credibility and strengthen external competitiveness. Addressing key structural impediments to growth would durably support efforts to raise productive capacity, reduce inflation and improve self-sustainability, as envisaged under the authorities’ Agriculture, Tourism, Mining and Manufacturing (ATMM) policy umbrella.

    Further strengthening governance measures will support confidence in public service provision. Despite government reform efforts, including the two National Anti-Corruption Strategies, gaps persist. For example, the public procurement process and SOE operations would benefit from greater transparency and less discretionary decision-making.

    The IMF mission team thanks the Malawian authorities and all other interlocutors for the candid discussions and their hospitality.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Tatiana Mossot

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/06/04/pr-25175-malawi-imf-completes-2025-art-iv-mission

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: China Creates 300-Kilometer Fully Connected Quantum Secure Direct Communication Network

    Translation. Region: Russian Federal

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

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

    BEIJING, June 4 (Xinhua) — Chinese scientists have achieved a new milestone in the development of quantum communication by successfully building a 300-kilometer-long fully connected quantum secure direct communication (QSDC) network, which is practically applicable to long-distance communication use.

    A major breakthrough by a research team from Shanghai Jiaotong University has preserved the accuracy of a quantum state by more than 85 percent after transmitting data between four users over a distance of 300 km, Science and Technology Daily reported.

    Published in the journal Science Bulletin, the latest research aims to overcome two key limiting factors for quantum networking – data transmission range and throughput.

    The team developed an innovative dual-pumped structure with high anti-jamming capability to successfully realize QSDC over a distance of more than 300 km, while the photon pair transmission frequency was stabilized at 300 to 400 Hz, which theoretically allows for data transmission rates of several bits per second.

    The result follows a team of researchers from Beijing in February this year reporting a world record in testing quantum direct communication over standard optical fibre, achieving continuous and uninterrupted data transmission over a distance of 104.8 km.

    Quantum direct communication was previously proposed by researchers at Tsinghua University. It enables secure communication by using quantum states and has advantages such as detecting and preventing eavesdropping, compatibility with existing networks, simplified management processes, and covert data transmission.

    QSDC systems are expected to be widely used in finance and other areas with extremely high information security requirements. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Exclusive: US tariffs add uncertainty for EU and Balkans – analyst

    Translation. Region: Russian Federal

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

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

    SARAJEVO, June 4 (Xinhua) — The U.S. proposal to impose tariffs on EU goods signals a broader shift in its policies and could cause significant damage to transatlantic economic ties, Adnan Huskic, an analyst and associate professor at the Sarajevo School of Science and Technology, told Xinhua in a recent interview.

    “This move reflects a simplistic approach to global trade and deep-rooted mistrust of Europe,” he said. “Such measures go beyond economics and demonstrate the continued abdication of the United States’ role in ensuring security on the European continent.”

    Although Bosnia and Herzegovina is not a member of the European Union, Huskic noted, it remains closely linked to EU countries, especially Germany, its main export market. “Any economic downturn in Germany or the EU will have serious side effects for Bosnia and the entire Western Balkans,” he said.

    A. Huskic also expressed concern about the fragmented response of the region to global changes. “The countries of the Western Balkans often act independently of each other and do not maintain strategic cooperation. Such fragmentation makes them vulnerable to global shocks, and ultimately they have to adapt to the dynamics created by the main players in this arena.”

    The change in the US approach to global interaction has created uncertainty among its partners, said A. Huskic, adding that the new reality is the United States, characterized by an inconsistent and unpredictable policy.

    “The rest of the world must stand firm in defense of free trade,” he added.

    The expert also pointed to Europe’s lag in emerging technologies and the need for reform. According to him, the EU is currently lagging behind in artificial intelligence and other innovative areas, and its economic model is in dire need of change.

    The EU must quickly reform and seek global partners with similar goals to become more autonomous and innovative, added A. Huskic. –0–

    MIL OSI Russia News –

  • MIL-OSI: Old National Again Named Among the 50 Most Community-Minded U.S. Companies by Points of Light

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., June 04, 2025 (GLOBE NEWSWIRE) — (NASDAQ: ONB) – For the second consecutive year, Old National Bancorp (“Old National”) has been named by Points of Light as one of “The Civic 50” honorees for 2025. This annual designation is reserved for the 50 most community-minded companies in the nation.

    A global nonprofit that inspires, equips and mobilizes people to take action that changes the world, Points of Light has recognized the 50 most community-minded companies in the nation every year since 2012. The Civic 50 award is based on employee volunteering, community investment, corporate citizenship and social impact programs.

    “Our team members love rolling up their sleeves and making a difference in their communities, as evidenced by the more than 67,000 collective volunteer hours they logged in 2024,” said Jim Ryan, Old National Chairman and CEO. “Old National is honored to again be recognized by Points of Light as an organization that truly puts our values into action.”

    Combined, The Civic 50 companies for 2025 have engaged more than 460,000 employees to volunteer more than 6.5 million hours in their communities. That’s double the average for U.S. companies not in The Civic 50.

    “In an ever-evolving landscape, companies are looking to ensure that they can meet the needs of their communities, customers, and stakeholders,” said Jennifer Sirangelo, President and CEO, Points of Light. “Companies like Old National are leading the way in showing how social impact benefits their employee’s well-being, strengthens the communities where they do business, and brings value and meaning to their work. Their efforts provide a model for others looking to bring the benefits of volunteering and social impact to their workforce, and they’re extremely deserving of this recognition.”

    The Civic 50 honorees are companies with annual U.S. revenues of at least $1 billion. They are selected based on four dimensions of their corporate citizenship and social impact programs:

    • Investment of resources and volunteerism
    • Integration across business functions
    • Institutionalization through policies and systems
    • Impact measurement

    You can click here for the full list of The Civic 50 honorees. Additionally, for more information and to view Old National’s latest Community Action Report, click here.

    ABOUT OLD NATIONAL
    Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the fifth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $70 billion of assets and $37 billion of assets under management (including Bremer Financial Corporation on a pro forma basis as of March 31, 2025), Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2025, Points of Light again named Old National as one of “The Civic 50” — an honor reserved for the 50 most community-minded companies in the United States.

    ABOUT POINTS OF LIGHT
    Points of Light is a nonpartisan, global nonprofit organization that inspires, equips, and mobilizes millions of people to create positive change through volunteering and civic engagement. Through work with nonprofits, companies and social impact leaders, the organization galvanizes volunteers to meet critical needs in communities. As the world’s largest organization dedicated to increasing volunteer service, Points of Light engages more than 3.8 million volunteers across 32 countries. For more information, visit pointsoflight.org.

    Investor Relations:
    Lynell Durchholz
    (812) 464-1366
    lynell.durchholz@oldnational.com

    Media Relations:
    Rick Vach
    (904) 535-9489
    rick.vach@oldnational.com

    An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ef16551-151e-4885-a99d-ec031f84e1fe

    The MIL Network –

  • MIL-OSI: Caro Holdings Launches AI Agent Suite to Automate Investor Relations and Financial Operations

    Source: GlobeNewswire (MIL-OSI)

    SHEFFIELD, United Kingdom, June 04, 2025 (GLOBE NEWSWIRE) — Caro Holdings Inc. (OTC: CAHO), through its subsidiary, has launched an integrated suite of AI agents designed to automate manual processes across investor relations, financial reporting, compliance, and stakeholder communications. The flagship investor chatbot marks the first deployment in a platform built to streamline how public companies manage information flow and engage stakeholders.

    Caro’s AI ecosystem includes specialised agents that work independently and collaboratively to automate critical business functions:

    Investor Relations Agent

    • Provides instant, source-verified responses to investor, analyst, and media inquiries
    • Processes complex multi-document queries across filings, earnings releases, presentations, and regulatory submissions
    • Delivers personalized responses based on user type (institutional investor, retail shareholder, analyst, journalist)
    • Maintains conversation context for follow-up questions and detailed financial analysis

    Caro is also developing additional agents that support public companies in finance, compliance, and communications, including:

    • Financial Reporting Automation Agent – Generates investor-ready summaries, comparative reports, and stakeholder-specific fact sheets
    • Regulatory Compliance Monitor – Tracks disclosure requirements, flags potential issues, and maintains audit trails
    • Market Intelligence Agent – Monitors competitor activity, analyst sentiment, and market signals
    • Stakeholder Communication Agent – Automates personalised outreach, follow-ups, and multi-channel messaging after earnings calls or key events

    The platform leverages agentic AI to perform complex reasoning and decision-making previously requiring human expertise.

    Early adopters report significant impact:

    • 90% reduction in time spent on routine investor queries
    • 75% decrease in manual report prep for meetings
    • 24/7 availability, eliminating business-hour limitations

    The global AI chatbot market is projected to reach $31.11 billion by 2029, with financial services AI agents alone expected to grow to $4.5 billion by 2030 at a 45.4% CAGR. This reflects strong demand for automation tools that cut costs while improving the speed and quality of stakeholder interactions.

    Traditional IR teams still spend up to 80% of their time on repeatable tasks – from handling standard questions to generating boilerplate reports. Caro’s AI suite removes that burden, allowing professionals to focus on strategy and relationship-building.

    Companies interested in eliminating manual investor relations processes can request a demonstration and early access at www.caroholdings.com/earlyaccess.

    About Caro Holdings Inc.
    Caro Holdings Inc. is dedicated to accelerating the growth of brands through digital innovation and AI-powered solutions. Its services include e-commerce strategy, digital marketing, AI voice technology, and growth capital. Learn more at www.caroholdings.com.

    Caro Holdings Inc.
    +1 786-755-3210
    ir@caroholdings.com

    The MIL Network –

  • MIL-OSI United Nations: 4 June 2025 Departmental update Neglected tropical diseases further neglected due to ODA cuts

    Source: World Health Organisation

    Neglected tropical diseases (NTDs) are a diverse group of conditions1 that still affect 1 billion people, mainly vulnerable populations in underserved regions of the world. Nevertheless, they are preventable, treatable and can be eliminated. As of May 2025, 56 countries have successfully eliminated at least one NTD – demonstrating significant progress towards WHO’s global target of 100 countries reaching elimination by 2030.

    This hard-won progress is now at risk. The dismantling of official development assistance (ODA) for global health, and particularly for NTD programmes, threatens to stall or reverse gains and negatively impact lives of vulnerable communities.

    Threat to NTD gains

    The recent withdrawal of funding by the United States from NTD projects jeopardizes the success of 19 years of investment in the global effort to eliminate NTDs.

    Early reports shared with the World Health Organization (WHO) indicate that the immediate impact of the funding withdrawal has delayed 47 campaigns in which mass treatment was warranted to free 143 million people from the burden of NTDs. In 2020, WHO Member States set targets for 2030 by endorsing the Road map for neglected tropical diseases 2021–2030 through World Health Assembly decision WHA73(33). Missing the planned campaigns and impact surveys in 2025 will postpone the achievement of targets in at least 10 additional countries. The abrupt cuts also halted critical research to validate new treatments, diagnostics and surveillance platforms to ensure these diseases no longer pose a threat globally.

    On 10 April 2025, WHO issued a warning on the impact caused by sudden suspensions and reductions in ODA for health, indicating that health service disruptions had been reported by over 70% of its surveyed country offices and that NTD programmes were among the most severely affected. In some settings, the nature and scale of service disruptions are comparable to those observed during the peak periods of the COVID-19 pandemic.

    Critical shortages in medicines and health products are leaving one third of responding countries without essential commodities for major health services. At the same time, the suspension of funding has triggered job losses among health and care workers in over half of those countries.

    Furthermore, if alternative mechanisms for service delivery are not urgently secured, suspensions and reductions in ODA for health could lead to expiration of over 55 million NTD tablets by the end of 2025, in Africa alone. In response, countries are working to identify local opportunities to sustain treatment activities, including integrated campaigns within broader health initiatives and mobilization of national resources to protect people’s health, prevent medicine wastage and sustain progress.

    Incredible past achievements at risk

    Over the past two decades, the Government of the United States of America, through USAID, supported the delivery of 3.3 billion treatments to more than 1.7 billion people in 26 countries, clearing infections, stopping transmission and reducing the burden of lymphatic filariasis, onchocerciasis (river blindness), schistosomiasis, soil-transmitted helminthiases (intestinal worm infections) and trachoma in several areas. This cumulative support of US$ 1.4 billion significantly advanced public health outcomes and enabled 14 countries (Bangladesh, Benin, Cambodia, Colombia, Ecuador, Ghana, Guatemala, Lao People’s Democratic Republic, Mali, Mexico, Nepal, Niger, Togo and Viet Nam) to achieve elimination of at least one NTD.

    NTD programmes have continued delivering impressive results despite fierce challenges: in 2023 alone, more than 860 million people received treatment for NTDs through mass drug administration or individual case management; and between January 2023 and May 2025, 17 countries were officially acknowledged by WHO for eliminating one NTD. Today, the halt in drug distribution and the layoff of frontline health workers threaten to reverse this progress – raising serious concerns about the resurgence of NTDs in the most affected regions.

    Funding challenges and implications for NTDs

    The withdrawal of United States funding to NTD programmes is not an isolated event. The last few years have witnessed a deprioritization of financial investments in support of NTDs, which accelerated during the years of the COVID-19 pandemic. For example, in 2021, another key stakeholder, the Government of the United Kingdom of Great Britain and Northern Ireland, ended its flagship NTD initiative, the Ascend programme. Nevertheless, recent pledges such as those made in December 2023 during the Reaching the Last Mile (RLM) Forum had raised hopes of reversing this trend.

    Decreased funding places a heavy strain on NTD programmes at a time when they are called to face unprecedented challenges, including the impact of climate change on vector-borne diseases. Notably, WHO declared dengue a grade 3 emergency in 2024, when over 14 million cases and 10 000 deaths were reported in 107 countries. The current global risk of dengue is assessed as high, and the disease remains a global health threat, while lack of resources continues to hamper prevention and control efforts, and the disease has spread to newer areas and countries in recent years.

    NTD programmes are recognized among the most cost-effective initiatives in global health, also thanks to effective public-private partnerships. Generous donations from pharmaceutical companies including Bayer AG, Chemo Group, Eisai Co. Ltd, EMS SA Pharma, Gilead Sciences, Inc., GSK, Johnson & Johnson, Merck KGaA, Merck Sharp & Dohme (MSD), Novartis, Pfizer and Sanofi – cumulatively valued at over US$ 12 billion between 2011 and today –make life-changing treatments available to those in need at minimal cost.

    Defunding NTD programmes threatens a proven public health success, potentially reversing hard-earned progress, exacerbating the cycle of disease and poverty, leaving vulnerable populations further marginalized and deepening inequality.

    Moving forward

    During the most recent Seventy-eighth World Health Assembly, NTDs were centre-stage, with a number of events held on the margins of the Assembly. Notably, two NTD-related resolutions, on eradication of dracunculiasis (Guinea-worm disease) and on skin diseases, were unanimously adopted by Member States.

    At this critical juncture, it is imperative to build on such renewed consensus and strengthen the global commitment to eliminating NTDs. This requires fostering nationally owned, sustainable programmes complemented by catalytic external support. Together, we must work towards the complete elimination of NTDs and release communities from the heavy burden of suffering these diseases cause.

    Notes

    1. Buruli ulcer; Chagas disease; dengue and chikungunya; dracunculiasis; echinococcosis; foodborne trematodiases; human African trypanosomiasis; leishmaniasis; leprosy; lymphatic filariasis; mycetoma, chromoblastomycosis and other deep mycoses; noma; onchocerciasis; rabies; scabies and other ectoparasitoses; schistosomiasis; snakebite envenoming; soil-transmitted helminthiases; taeniasis and cysticercosis; trachoma; yaws.

    MIL OSI United Nations News –

  • MIL-OSI: GDS to Hold Annual General Meeting on June 26, 2025

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, June 04, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced that it will hold its 2025 Annual General Meeting of Shareholders (the “AGM”) at Beijing Meeting Room, F5, Building C, Sunland International, No. 999 Zhouhai Road, Pudong, Shanghai, P.R.C. at 4:00 p.m. (China Standard Time) on June 26, 2025 (which is 4:00 a.m. (Eastern Daylight Time) on June 26, 2025).

    Holders of the Company’s ordinary shares and Series A convertible preferred shares listed in the register of members of the Company at the close of business on June 4, 2025 (China Standard Time) are entitled to receive notice of, and vote at, the AGM or at any adjournment that may take place. Beneficial owners of the Company’s American Depositary Shares (“ADSs”) who wish to exercise their voting rights for the underlying Class A ordinary shares must act through JPMorgan Chase Bank, N.A. (“JPMorgan”), the depositary of the Company’s ADS program. Holders of ADSs at the close of business on June 4, 2025, New York time will be able to instruct JPMorgan as to how to vote the Class A ordinary shares represented by such ADSs.

    Copies of the Notice of the AGM, which sets forth the resolutions to be proposed and for which adoption from shareholders is sought, the Proxy Statement and the Proxy Card are available on the Investor Relations section of the Company’s website at http://investors.gds-services.com, on the SEC’s website at www.sec.gov and HKEX’s website at http://www.hkexnews.hk.

    GDS has filed its annual report on Form 20-F, including its audited financial statements, for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (“SEC”). The Company’s Form 20-F can be accessed on the Company’s website at investors.gds-services.com, as well as on the SEC’s website at www.sec.gov.

    GDS has also published its annual report for Hong Kong purposes pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“HKEX”), which can be accessed on the Company’s website at investors.gds-services.com as well as the HKEX’s website at http://www.hkexnews.hk.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network –