NewzIntel.com

Category: Economy

  • MIL-OSI New Zealand: DOC starts local conversations on paid parking pilots

    Source: NZ Department of Conservation

    Date:  28 May 2025

    “We’ve begun formally sharing important information with local stakeholders on the paid parking pilots including our plans and timelines,” says Catherine Wilson – Director Visitor and Heritage.

    “We’re keen for people’s thoughts on how we can make these pilots a success and are asking for feedback by 19 June.”

    The paid parking pilots are expected to begin in October for the coming summer season.

    “Piloting paid parking will allow DOC to test if it’s an effective tool for establishing better management of visitor car parking at busy DOC sites, improving the customer experience and contributing toward the financial sustainability of DOC’s visitor network”, says Catherine.

    “Other countries use paid car parking to manage visitor numbers and contribute to the costs of national parks and popular tourism sites. Paid parking also allows visitors to give back to the popular places they enjoy.”

    In 2018, approximately 500,000 people visited the Pancake Rocks walkway at Punakaiki and over 780,000 people visited Franz Josef. Numbers dropped significantly during COVID but are now recovering to pre-COVID levels.

    The paid parking pilots are part of DOC’s work to better manage visitors and their impact while delivering fantastic nature experiences.

    For further information on paid parking pilots or to provide feedback, contact PaidCarParking@doc.govt.nz.

    Contact

    For media enquiries contact:

    Email: media@doc.govt.nz

    MIL OSI New Zealand News –

  • MIL-OSI China: Full text: Remarks by Chinese Premier Li Qiang at the ASEAN-China-GCC Summit

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

    KUALA LUMPUR, May 28 — Chinese Premier Li Qiang on Tuesday addressed the ASEAN (the Association of Southeast Asian Nations)-China-GCC (the Gulf Cooperation Council) Summit in Kuala Lumpur, Malaysia.

    The following is the full text of his remarks at the summit:

    Remarks by H.E. Li Qiang

    Premier of the State Council of the People’s Republic of China

    At the ASEAN-China-GCC Summit

    Kuala Lumpur, May 27, 2025

    Your Honorable Prime Minister Dato’ Seri Anwar Ibrahim,

    Your Highness Crown Prince Sabah Khalid Al-Hamad Al-Sabah,

    Colleagues,

    It gives me great pleasure to join you in Kuala Lumpur. First of all, the Chinese side would like to extend sincere appreciation to Prime Minister Anwar Ibrahim for his vision in proposing the ASEAN-China-GCC Summit. We also wish to express our heartfelt thanks to the Malaysian government for the dedicated efforts and thoughtful arrangements made for the summit.

    China, ASEAN and GCC countries have a long history of friendly interactions, with exchanges and cooperation between us spanning thousands of years from the ancient Silk Road to the Belt and Road Initiative. Today, against a volatile international landscape and sluggish global growth, the establishment of the ASEAN-China-GCC Summit creates a platform for exchanges and a mechanism for cooperation. It is a groundbreaking initiative in regional economic cooperation that has carried forward the legacy of history, and more importantly, answered the call of the times. If we take a look at the world map and draw a line between China, ASEAN and the GCC, we will get a big triangle. As we know, triangle is the most stable structure. By enhancing connectivity and cooperation, we can pool our resources, production capacity and markets to foster a vibrant economic circle and growth pole. This is highly important both to our respective economic prosperity and to peace and development in Asia and the world. We should firmly seize this historic opportunity to enrich the trilateral cooperation, and set a fine example for global cooperation and development in this era.

    First, we should set a fine example of opening up across regions. Together, China, ASEAN and the GCC account for roughly a quarter of the world’s population and economic output. Our markets, if fully connected, will generate even greater space for development and more substantial economies of scale. The China-ASEAN Free Trade Area 3.0 upgrade negotiations have been fully concluded. It is hoped that the negotiations for the China-GCC Free Trade Agreement can also be concluded as early as possible to take trilateral trade to a higher level. We should firmly expand regional opening up, and develop a big market with more efficient mobility of resources, technologies and talents and enhanced trade and investment liberalization and facilitation to fully unlock the huge potential of open development.

    Second, we should set a fine example of cooperation across development stages. Countries of the three sides are at different stages of development, yet we should not let these differences stand in the way of our cooperation, but transform them into complementary strengths that we can harness. China is ready to, on the basis of mutual respect and equality, work with ASEAN and the GCC to strengthen the alignment of development strategies, increase macro policy coordination, and deepen collaboration on industrial specialization. We should make efforts to turn our respective strengths into collective strengths, and help each other tackle development challenges. We should create a new model of international industrial and economic cooperation, and strive for coordinated development where everyone does its level best, efficiency is multiplied, and benefits are shared.

    Third, we should set a fine example of inter-civilization integration. Countries of the three sides have diverse civilizations. At the same time, we all belong to the same Asian family and share the same Asian values of peace, cooperation, openness and inclusiveness. We should deepen people-to-people exchanges to further consolidate the foundation for mutual trust. We should effectively manage differences in the spirit of mutual understanding, advance win-win cooperation through the exchange of ideas, and explore a new way for promoting the inclusiveness and common progress of different civilizations. China actively supports Prime Minister Anwar’s initiative on Islam-Confucianism dialogue. We are ready to work with ASEAN and the GCC to implement the Global Civilization Initiative, promote mutual learning among civilizations, and pool more consensus and strengths for peace and development.

    Today, we have established the trilateral cooperation mechanism and drawn up a promising vision of joint development. What’s more important now is for all sides to take concrete actions and advance substantive cooperation.

    Between our three sides, we should work together to promote cooperation in key areas and achieve more effective common development. China is ready to discuss with ASEAN and the GCC a trilateral action plan on high-quality Belt and Road cooperation. We should enhance synergy and connectivity in infrastructure, market rules and payment systems, actively consider establishing a regional business council, deepen economic integration, and make development more resilient and efficient. While expanding cooperation in traditional areas such as energy and agriculture, we also need to step up cooperation in emerging areas such as AI, the digital economy, and green and low-carbon development to foster and cultivate new growth drivers. We should also respond to our people’s aspiration for enduring friendship, and deepen people-to-people exchanges. To promote travels and people-to-people bond between the three sides, China has decided to roll out an “ASEAN visa” for Southeast Asian countries offering five-year multiple-entry visas to eligible applicants for business and other purposes, and to extend unilateral visa-free policy to Saudi Arabia, Oman, Kuwait, and Bahrain on a trial basis, which will effectively give visa-free status to all GCC countries.

    At the global level, we should always stand on the right side of history and add more positive energy to world peace and development. We should pursue equal, mutually beneficial, open, inclusive, practical and efficient cooperation, and, through our example, encourage the international community to uphold multilateralism and free trade and reject unilateralism and protectionism. China will work with ASEAN and GCC countries to step up communication and coordination in multilateral mechanisms including the United Nations, vigorously defend the common interests of developing countries, categorically oppose hegemonism and power politics, and make global governance more just and equitable.

    As President Xi Jinping noted, “For us to break through the mist and embrace a bright future, the biggest strength comes from cooperation, and the most effective way is through solidarity.” China will join ASEAN and the GCC in fostering synergies that multiply rather than simply add our individual strengths, and inject strong impetus into our common development and prosperity. I am confident that through our concerted efforts, trilateral cooperation will continue to produce positive results and deliver more benefits to our people, thereby making greater contributions to peace and development in Asia and the world.

    Thank you.

    MIL OSI China News –

  • MIL-OSI China: Full Text: Speech by Chinese Premier Li Qiang at the opening ceremony of the ASEAN-China-GCC Economic Forum

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

    Full Text: Speech by Chinese Premier Li Qiang at the opening ceremony of the ASEAN-China-GCC Economic Forum

    KUALA LUMPUR, May 28 — Chinese Premier Li Qiang on Tuesday delivered a speech at the opening ceremony of the ASEAN (the Association of Southeast Asian Nations)-China-GCC (the Gulf Cooperation Council) Economic Forum 2025.

    The following is the full text of the speech:

    Speech by H.E. Li Qiang

    Premier of the State Council of the People’s Republic of China

    At the Opening Ceremony of The ASEAN-China-GCC Economic Forum

    Kuala Lumpur, May 27, 2025

    Your Honorable Prime Minister Dato’ Seri Anwar Ibrahim,

    Distinguished Guests,

    Business Leaders, Ladies and Gentlemen,

    It gives me great pleasure to join you in Kuala Lumpur for the opening ceremony of the ASEAN-China-GCC Economic Forum.

    The ASEAN-China-GCC Summit is successfully held today. We have agreed to strengthen our trilateral partnership and ushered in a new chapter of trilateral cooperation. The leaders of participating countries have had in-depth discussions under the theme of “Synergizing Economic Opportunities Toward Shared Prosperity.” It is widely agreed that profound and complex transformations are taking place in the global political and economic landscape, the common challenges countries face in their development are increasing, and the scarcity of development opportunities makes them all the more precious, increases the urgency of cooperation, and calls for more vision. In this context, our discussions are highly relevant and should involve all related sectors, particularly the business community, so as to pool wisdom and build consensus among more stakeholders. Let me take this opportunity to share with you three observations.

    First, given everything that is going on, opportunities can be created if we join hands to meet the challenges. At present, economic globalization is suffering heavy blows never seen before. The values we pursue all along, such as peace, development and win-win cooperation, are severely challenged. Properly addressing these issues will bring significant opportunities for the countries of our three sides. Amid heightened geopolitical conflict, rivalry and confrontation, we can create long-term strategic opportunities when we deepen mutual trust and strengthen solidarity. The rapid development of Asia in the past decades offers a profound lesson: Only solidarity, mutual trust, peace and stability can bring development and prosperity. All countries are part of a close-knit community with a shared future. In the absence of mutual trust, problems may be amplified and cooperation becomes impossible. Yet with solidarity and mutual trust, we can render each other strategic support and cultivate broader and more sustainable high-standard economic cooperation, thus ensuring long-term, steady development. Amid rising protectionism and unilateralism, we can unleash enormous market opportunities when we continue to open wider and remove barriers. Countries of our three sides have all benefited from economic globalization and gained great development opportunities from integration into the world market. Our markets, when connected, will form one of the world’s largest intra-regional markets and produce a multiplier effect. Building the big market will allow our countries to reap and share more benefits. Amid more decoupling practice, supply-chain disruptions and trade barriers, we can create opportunities for transformation and upgrading when we keep sharing resources and empowering one another. Countries vary in resource endowments and industrial structure. They bring different strengths to and gain from international industrial cooperation. This will maximize the use of resources, and boost industrial performance and sustained development for all who take part.

    Second, the friendly cooperation between China, ASEAN and GCC countries has a long history and a bright future. More than 2,000 years ago, the earliest camel caravan from China reached the Middle East, and the first Chinese fleet landed in Nanyang (Southeast Asia). Ever since then, trade and people-to-people exchanges have connected us throughout over 20 centuries, strengthening and flourishing over time. These rich historical links will ensure even more successes in our future cooperation. Together, we will find greater potential for development. We are about a quarter of the world’s population and the global economy, but only about 5 percent of global trade. A lot remains untapped. As we deepen our cooperation, our trade and investment will grow continuously and uplift our nations as well as our businesses. Together, our economies will work more efficiently. When factors of production move more easily between our countries and our industries are connected more closely, the cost of energy and other resources will go down, logistics will be faster, financial services will be more efficient, and more advanced technologies will give us strong impetus. The competitiveness and resilience of our economies will grow substantially, and our development will be more efficient and secure. Together, we will create more dynamic ecosystems of innovation. We are all outstanding innovators, each excelling in our own ways. Greater cooperation will enable our innovative talents to better learn from and complement one another, and provide first-class R&D support and rich application scenarios for innovation and creation to sow the seeds for more new industries and new forms of business. This will allow us all to stand taller in the global landscape of innovation.

    The future of our trilateral cooperation is boundless like the oceans. It is upon us to take real actions in order to steer and shape it. China stands ready to work with ASEAN and GCC countries to strengthen alignment of development strategies, deepen cooperation on regional integration, and promote trade and investment liberalization and facilitation. At the same time, we must firmly uphold the WTO-centered multilateral trading system, and stand for a stable and orderly global market environment. As the ongoing scientific revolution and industrial transformation unfold, let us join hands to seize the early opportunities, expand high-tech cooperation, safeguard the stable and unimpeded industrial and supply chains, and keep breaking new ground in our common development.

    Third, with its high-quality development, China will consistently inject new impetus into the trilateral cooperation. In terms of development momentum, the Chinese economy has been growing steadily since the beginning of this year. With a year-on-year GDP growth of 5.4 percent in the first quarter, China is one of the fastest-growing major economies in the world. In the first four months of this year, we’ve seen strong development in the industrial sector, resilient export despite external pressure, and sustained expansion of new growth drivers. The figures speak for themselves: The added value of industrial enterprises above the designated size grew by 6.4 percent year-on-year; export increased by 7.5 percent compared with the same period last year; the added value of high-tech manufacturing and the investment in high-tech services went up by 9.8 percent and 11.3 percent year-on-year respectively; and production and sales of new energy vehicles both exceeded four million. Smart factories now cover more than 80 percent of the manufacturing sectors. These achievements speak volumes about the great stability of the Chinese economy. As President Xi Jinping said, the Chinese economy is not a pond, but an ocean. This vast ocean can withstand fierce winds and heavy rains. Each storm weathered only deepens its resilience and makes it more open and inclusive.

    In terms of macro policies, facing risks and challenges from the external environment, we made clear that more proactive and effective macro policies will be implemented and that a more proactive fiscal policy and an appropriately accommodative monetary policy will be adopted. Fiscal expenditures hit a record high and the regulation of monetary and financial aggregates has been significantly strengthened, providing a strong underpinning for the expansion of aggregate demand. Going forward, we will continue to strengthen counter-cyclical adjustments in light of the changing circumstances. Whatever challenges lie ahead in the future, we have the capability and confidence to maintain the steady and long-term development of the Chinese economy.

    In terms of strategic goals, China is a super-sized economy that enjoys the unique strength of major economies, i.e., domestic demand is the main driver and domestic circulation is possible. We are increasingly placing our strategic priority on expanding domestic demand and strengthening domestic circulation with a view to enhancing the internal driving force of the Chinese economy. We have accelerated efforts to implement the strategy of expanding domestic demand and have launched special initiatives to boost consumption. As more policy resources are given to consumption, a huge demand potential will be unleashed. We are also further deepening reform comprehensively and accelerating the high-end, smart and green industrial transformation, which will create new, additional demand. The Chinese economy is of great breadth and depth, which can provide a huge market for quality products from all over the world. We will stay committed to expanding high-standard opening up, take more measures to advance voluntary and unilateral opening up, and enable domestic and international circulations to reinforce each other, so that companies across the world, including those from ASEAN and GCC countries, can fully share in the opportunity of China’s development.

    Ladies and Gentlemen,

    Friends,

    Cooperation is the only right way to overcome common challenges. China stands ready to work together with ASEAN and GCC countries to embrace greater openness and cooperation, promote steady economic growth, and join hands to synergize economic opportunities toward shared prosperity. Thank you.

    MIL OSI China News –

  • MIL-OSI: GDS Announces Proposed Offering of US$450 Million Convertible Senior Notes

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 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 the commencement of a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company plans to use the net proceeds from the Notes Offering for working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.

    When issued, the Notes will be senior unsecured obligations of GDS. The Notes will mature on June 1, 2032, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.

    Prior to the close of business on the business day immediately preceding December 1, 2031, the Notes will be convertible only upon satisfaction of certain conditions and during certain periods. On or after December 1, 2031 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their Notes at their option at any time. Upon conversion, the Company will pay or deliver, as the case may be, cash, the Company’s American depositary shares, each representing eight Class A ordinary shares (the “ADSs”), or a combination of cash and ADSs, at the Company’s election. Holders may also elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, subject to certain procedures and conditions set forth in the terms of the Notes. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.

    The Company may redeem for cash all but not part of the Notes (i) in the event of certain tax law changes (a “Tax Redemption”) and (ii) if less than 10% of the aggregate principal of amount of notes originally issued (for the avoidance of doubt, including the notes issued upon the exercise of the initial purchasers’ option to purchase additional notes) remains outstanding at such time (a “Cleanup Redemption”). The Notes will not be redeemable before June 6, 2029, except in connection with a Tax Redemption or Cleanup Redemption. On or after June 6, 2029 and on or prior to the 40th scheduled trading day immediately prior to the maturity date, the Notes will be redeemable, in whole or in part, for cash at the Company’s option at any time, and from time to time, if (x) the notes are “freely tradable” (as will be defined in the indenture for the Notes), and all accrued and unpaid additional interest, if any, has been paid in full, as of the date we send such notice and (y) the last reported sale price of the ADSs has been at least 130% of the conversion price then in effect on (i) each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately prior to the date the Company provides notice of redemption and (ii) the trading day immediately preceding the date the Company sends such notice (such redemption, an “Optional Redemption”). The redemption price in the case of a Tax Redemption, Cleanup Redemption or an Optional Redemption will equal 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.

    Holders of the Notes may require the Company to repurchase for cash all or part of their Notes on June 1, 2029. In addition, holders of the Notes have the option, subject to certain conditions, to require the Company to repurchase any Notes held in the event of a “fundamental change” (as will be defined in the indenture for the Notes). The repurchase price, in each case, will be equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.

    The Company expects that certain purchasers of the Notes may establish a short position with respect to its ADSs by short selling its ADSs or by entering into short derivative positions with respect to its ADSs (including entering into derivatives with an affiliate of an initial purchaser in the Notes Offering), in each case, in connection with the Notes Offering. Any of the above market activities by purchasers of the Notes could increase (or reduce any decrease in) or decrease (or reduce any increase in) the market price of the Company’s ADSs or the Notes at that time, and the Company cannot predict the magnitude of such market activity or the overall effect it will have on the price of the Notes or its ADSs.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of a certain number of its ADSs (the “Borrowed ADSs”) that the Company will lend to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering in order to facilitate privately negotiated derivative transactions by some holders of the Notes for purposes of hedging their investment in the Notes. The Company expects to enter into an ADS lending agreement (the “ADS Lending Agreement”) with the ADS Borrower pursuant to which the Company will lend the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs and the Company will not receive any of those proceeds, but the ADS Borrower will pay the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company’s ADSs or the Notes otherwise prevailing at that time.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Primary ADSs Offering”) of 5,200,000 ADSs (the “Primary ADSs”), subject to market and other conditions. The underwriters in the Primary ADSs Offering will have a 30-day option to purchase up to 780,000 additional ADSs.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes, the Borrowed ADSs or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADSs Offering is conditioned upon the closing of each of the other offerings and vice versa. If the Notes Offering is not consummated, the concurrent Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the concurrent Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof, have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act.

    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.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    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 –

  • MIL-OSI Russia: Chinese Premier vows to strengthen alignment of ASEAN, GCC strategies for common development

    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

    KUALA LUMPUR, May 27 (Xinhua) — China is willing to strengthen the alignment of development strategies with countries of the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC) to continuously open up new prospects for common development.

    Li Qiang made the remarks while speaking at the opening ceremony of the ASEAN-China-GCC Economic Forum 2025.

    The successful holding of the ASEAN-China-GCC Summit opened a new chapter in trilateral cooperation, the Premier said, adding that the summit held in-depth discussions on the theme of “jointly creating opportunities, sharing prosperity”, which were of great significance.

    The head of the Chinese government noted that in the modern world, jointly overcoming challenges is equivalent to creating new opportunities.

    According to Li Qiang, in the face of intensifying geopolitical conflicts and confrontation, a firm commitment to deepening mutual trust and strengthening unity can create long-term strategic opportunities and ensure sustainable and stable development.

    In the face of rising protectionism and unilateralism, a firm commitment to expanding openness and removing barriers can open up broad market opportunities and allow all countries to reap greater benefits from jointly building a large market, the premier stressed.

    In the face of the growing trend towards “decoupling and decoupling” and “erecting walls and barriers,” he continued, a strong commitment to resource sharing and mutual strengthening of capabilities can create opportunities for upgrading and transformation, improving industrial efficiency and enhancing the sustainable development dynamics of all countries.

    Li Qiang noted that the friendly cooperation between China, ASEAN and GCC countries has a long history and deep roots.

    Based on such a solid historical foundation, the trilateral cooperation will definitely bring new achievements and its prospects will become even more promising, Li Qiang said, stressing that the three sides will have more space for development, higher economic efficiency and a more vibrant innovation ecosystem.

    China is willing to work with ASEAN and GCC countries to strengthen the alignment of development strategies, deepen regional integration, firmly safeguard the multilateral trading system with the World Trade Organization at its core, maintain the stable and smooth operation of industrial and supply chains, and continuously open up new prospects for common development, the premier added.

    Li Qiang stressed that China will continuously inject new impetus into trilateral cooperation through its own high-quality development.

    Speaking about the development trend, he noted that since the beginning of this year, China’s economy has continued to recover and improve continuously, fully demonstrating strong resilience.

    Li Qiang quoted Chinese President Xi Jinping as saying that “the Chinese economy is a vast ocean, not a small pond.” The premier said the ocean can withstand fierce storms and emerge even deeper and more massive, more inclusive and more open after the storm subsides.

    Noting that China has clearly articulated a proactive macroeconomic policy orientation and intends to further strengthen counter-cyclical adjustments, Li Qiang said the Chinese government and people have the ability and confidence to maintain a steady and long-term course for the “big ship” of the Chinese economy despite all possible challenges in the future.

    At the same time, in strategic terms, he specified, China will focus more on expanding domestic demand and strengthening domestic economic circulation, constantly strengthening the internal driving forces of its economy.

    Li Qiang stressed that China also plans to resolutely and steadily expand high-level opening-up and promote mutual strengthening of domestic and international economic circulation, so that enterprises from ASEAN and GCC member countries and the rest of the world can seize the opportunities brought by China’s development.

    Speaking at the opening ceremony of the forum, Malaysian Prime Minister Anwar Ibrahim, for his part, emphasized that the adoption of a joint statement following the first ASEAN-China-GCC summit sent a strong signal to the world about the commitment of the three parties to unity and cooperation.

    As the head of the Malaysian government pointed out, China is an important partner for ASEAN and GCC countries, playing an important role in promoting economic development, maintaining peace and stability, and upholding international fairness and justice.

    Anwar Ibrahim said ASEAN firmly adheres to the concept of independence and self-reliance and is committed to deepening partnership with China and the GCC members and strengthening mutually beneficial cooperation with them in areas such as economy, trade and investment, so as to make greater contributions to the prosperity and stability of the region and the world at large. –0–

    MIL OSI Russia News –

  • MIL-OSI Security: Dunklin County Woman Sentenced for Aiding $565,000 Fraud

    Source: Office of United States Attorneys

    CAPE GIRARDEAU – U.S. District Judge on Tuesday sentenced a money mule to fifteen months imprisonment for moving $565,000 in stolen funds.  

    Sheri L. Reeves acted as a money courier or “money mule,” transferring money obtained by fraud to others. On June 9, 2020, Reeves opened an account at a Bank of America branch in Jonesboro, Arkansas, and later added the name of the fraud victim to the account. Reeves’ co-conspirators used fraudulently obtained account information to access the victim’s account and transfer a total of $565,000 to Reeves’ account. She then sent the money to others using cashier’s checks obtained in Tennessee and Arkansas and via a CoinFlip cryptocurrency ATM in Dunklin County.  She also sent her account information to others and withdrew or attempted to withdraw the proceeds in cash or by check, her plea agreement says.

    Despite being warned by the FBI, Reeves continued to assist in the commission of financial crimes.  

    Reeves, 55, of Kennett, in Dunklin County, pleaded guilty in November in U.S. District Court in Cape Girardeau to one count of aiding and abetting bank fraud, one count of conspiracy to commit wire and mail fraud and one count of wire fraud. In addition to the sentence of fifteen months imprisonment, Reeves was ordered to pay $565,000 in restitution to the Bank of America, and to serve a term of five years supervised release upon her release from imprisonment.  

    The case was investigated by the FBI. Assistant U.S. Attorney Paul Hahn prosecuted the case.

    If you believe you are participating in a money mule scheme or a victim of one, please contact the FBI’s Internet Crime Complaints Center at ic3.gov or contact your local FBI office.

    MIL Security OSI –

  • MIL-OSI Russia: IMF Reaches Staff-Level Agreement on the First Review under El Salvador’s Extended Fund Facility Arrangement

    Source: IMF – News in Russian

    May 27, 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.

    • IMF staff and the Salvadoran authorities have reached staff-level agreement on the first review of the 40-month extended arrangement under the Extended Fund Facility (EFF). Subject to approval by the IMF Executive Board, El Salvador would receive nearly US$120 million (SDR 86.16 million).
    • Program performance has been strong. Key fiscal and reserve targets were met with margins and substantial progress continues in the ambitious reform agenda in the areas of governance, transparency, and financial resilience.
    • Continued implementation of the fiscal consolidation plan and structural agenda remains critical to address macroeconomic imbalances and create conditions for stronger and more sustainable growth.

    Washington, DC: IMF staff and the Salvadoran authorities have reached staff-level agreement on the first review of the country’s extended arrangement under the Extended Fund Facility (EFF). They also finalized discussion on the 2025 Article IV consultation focused on boosting El Salvador’s medium-term growth prospects.

    Upon the conclusion of these discussions Mr. Cubeddu, Deputy Director of the Western Hemisphere Department, and Mr. Torres, Mission Chief for El Salvador, issued the following statement:

    “IMF staff have reached staff-level agreement with the Salvadoran authorities on the first review under the 40-month EFF arrangement.[1] The agreement is subject to approval by the IMF’s Executive Board, and contingent on the implementation of the agreed prior actions.

    “The authorities have made significant progress in implementing their economic reform plan under the IMF-supported program. Most program targets set for the first review were comfortably met, and implementation of the structural benchmarks is progressing well.  Meanwhile, despite a more challenging external backdrop, El Salvador’s economy continues to expand supported by improved confidence and still robust remittances. Prudent policies and more favorable terms of trade have led to reduction in inflation and the current account deficit.

    Against the backdrop of early strong program implementation, understandings have been reached on policies to continue to secure program objectives, including with the technical support from the Fund and other development partners:

    • The fiscal consolidation will continue this year through cuts in the wage bill and current spending restraint, and plans are being developed to reform the civil service and the pension systems to underpin the adjustment beyond this year. This will be supported by the new Fiscal Sustainability Law, which is expected to be enacted shortly.
    • External buffers will be strengthened further through the accumulation of government deposits at the Central Bank, supported by financing from International Financial Institutions and fiscal discipline. Meanwhile, bank liquidity requirements will be raised in line with program commitments, while bank oversight is strengthened, including of cooperatives.
    • Following the adoption of the Anti-Corruption Law, attention will now focus in securing its proper and timely implementation to complement ongoing efforts to enhance governance, accountability, and transparency, including of the fiscal accounts of the overall public sector.
    • On Bitcoin, efforts will continue to ensure that the total amount of Bitcoin held across all government-owned wallets remains unchanged, consistent with program commitments, while also securing the unwinding of the public sector’s participation in the Chivo wallet by end-July.

    There is a shared understanding that steadfast program implementation and agile policy making, in the context of rising global uncertainties, remain critical to further entrench stability and lay the foundation for stronger and more sustainable growth. IMF staff thank the Salvadoran authorities for the excellent collaboration and constructive discussions.”

    [1] The EFF was approved by the IMF Executive Board on February 26, 2025, with total access of SDR 1033.92 million (about US$1.4 billion or 360 percent of quota), and initial disbursement of SDR 86.16 million. Other official creditors committed to provide additional financial support for a combined total of roughly US$3.5 billion.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    https://www.imf.org/en/News/Articles/2025/05/27/pr-25162-el-salvador-imf-reaches-agreement-on-the-1st-rev-under-eff

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Staff Completes Review Mission to Egypt

    Source: IMF – News in Russian

    May 27, 2025

    • The IMF team and the Egyptian authorities made good progress on the assessment of economic performance and implementation of policy commitments under the Extended Fund Facility (EFF) arrangement.
    • As Egypt’s macroeconomic stabilization is taking root, it is now time to accelerate and deepen the reform efforts to reduce the state footprint, level the playing field, and improve the business environment.
    • Discussions will continue virtually to finalize agreement on remaining policies and reforms that could support completion of the fifth review.

    Washington, DC: An International Monetary Fund (IMF) staff team led by Ms. Vladkova Hollar visited Cairo from May 6 to May 18, and held productive discussions with the Egyptian authorities on economic and financial policies that could underpin the completion of the Fifth Review under the Extended Fund Facility (EFF) arrangement.  

    At the end of the mission, Ms. Vladkova Hollar issued the following statement: 

    “The Egyptian authorities and IMF staff held constructive discussions which have advanced the technical work and policy discussions as part of the Fifth Review under the Extended Fund Facility.  

    “Egypt has made substantial progress toward macroeconomic stability. Growth is expected to continue strengthening, and we upgraded our forecast for FY24/25 to 3.8 percent, in light of the stronger-than-expected outturn in the first half of the year. At the same time, the private investment share in total investment rose from 38.5 percent in H1 FY23-24 to almost 60 percent over the same period in FY24-25. Inflation rose slightly to 13.9 percent in April but remains on a downward trend. The current account remains wide, as rising imports, reduced hydrocarbon output, and Suez Canal disruptions offset strong tourism, remittances, and non-oil exports. Greater fiscal prudence—including through better oversight and control over large public sector infrastructure projects—is helping to contain demand pressures, with total public investment spending remaining below the established ceiling for July – December 2024.  

    “We welcome the authorities’ recent efforts to modernize and streamline tax and customs procedures to increase efficiency and build confidence. These reforms are starting to yield positive results. Alongside these efforts, domestic revenue mobilization will need to continue, mainly by widening the tax base and streamlining tax exemptions, to support the government’s capacity to spend sufficiently on priority development and social needs. We also welcome the authorities’ efforts to develop a medium-term debt management strategy that aims to improve transparency and gradually reduce the large debt service cost in the budget. 

    “With the macroeconomic stabilization now underway, it is critical for Egypt to carry out deeper reforms to unlock the country’s growth potential, create high-quality jobs for a growing population, and sustainably reduce its vulnerabilities and increase the economy’s resilience to shocks.  

    “In order to deliver on these objectives, decisively reducing the role of the public sector in the economy and leveling the playing field for all economic agents should be key policy priorities. The implementation of the State Ownership Policy and the asset divestment program in sectors where the state has committed to reduce its footprint will play a critical role in strengthening the ability of the private sector to better contribute to economic growth in Egypt. Complementing this, efforts need to continue to improve the business environment.  

    “We are grateful for the warm hospitality extended by the authorities during this mission. Discussions will continue virtually to finalize agreement on the remaining policies and reforms that could support the completion of the fifth review.”  

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Angham Al Shami

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

    https://www.imf.org/en/News/Articles/2025/05/27/pr-2516-egypt-imf-staff-completes-review-mission-to-egypt

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Equinor ASA: Execution of debt capital market transactions

    Source: GlobeNewswire (MIL-OSI)

    On Tuesday May 27, 2025 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions:

    • Issue of USD 550 million 4.25% Notes due June 2, 2028
    • Issue of USD 400 million 4.50% Notes due September 3, 2030
    • Issue of USD 800 million 5.125% Notes due June 3, 2035

    The net proceeds from the issue of the Notes will be used for general corporate purposes, which may include the repayment or purchase of existing debt or other purposes described in the prospectus supplement for the issue of Notes. The transaction will increase the financial flexibility of the company.

    The offering is scheduled to close on June 3, 2025, subject to the satisfaction of customary conditions.

    Any public offering in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Equinor ASA and Equinor Energy AS, and previously declared effective.

    Further information from:

    Investor relations:
    Bård Glad Pedersen, Senior Vice President, Investor Relations,
    +47 918 01 791

    Press:
    Rikke Høistad Sjøberg, Media Relations,
    +47 901 01 451

    Finance:
    Sverre Serck-Hanssen, Vice President, Capital Markets,
    +47 951 68 342

    This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Equinor ASA nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC’s website at www.sec.gov. Alternatively, you may request these documents by calling (1) Barclays Capital Inc. at 1-888-603-5847, (2) BofA Securities, Inc. at 1-800-294-1322, (3) Deutsche Bank Securities Inc. at 1-800-503-4611, (4) Goldman Sachs & Co. LLC at 1-866-471-2526, or (5) J.P. Morgan Securities LLC at 1-212-834-4533.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI: DMG Blockchain Solutions Inc. Announces Enablement of Carbon Neutral Bitcoin Transactions via Systemic Trust Company

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated data center and digital asset technology company, announces that DMG’s digital asset custody subsidiary, Systemic Trust Company (“STC”) has added the capability to send bitcoin in a regulatory compliant and carbon neutral manner.

    This enablement is the keystone that bridges the key pillars of DMG’s carbon-neutral Bitcoin ecosystem – STC, whose platform is built on Fireblocks’ custody solution, and Terra Pool, the world’s first carbon neutral Bitcoin mining pool. By utilizing Fireblocks, a proven and trusted solution for wallet infrastructure, users can be assured of the security and integrity of their digital asset holdings when they are stored and subsequently sent. In turn, DMG’s Petra technology empowers bitcoin transactions from STC’s Petra-enabled wallets to be sent via Terra Pool, which removes the risk of commingling with nefarious actors and utilizes energy from carbon neutral energy sources, a highly sought after capability increasingly demanded by financial institutions globally.

    DMG’s CEO, Sheldon Bennett, commented: “Integrating Petra technology with Fireblocks’ custody solution achieves a key milestone for enabling DMG’s carbon neutral Bitcoin ecosystem, as it allows not only Systemic Trust being able to send bitcoin in a regulatory-compliant and carbon neutral manner but also the much larger ecosystem of Fireblocks’ 2000+ customers. Our goal remains to provide financial institutions, government and enterprises choice as to how they transact bitcoin, and this is a key advancement that can broadly give them that choice, all the while advancing our burgeoning collaboration with Fireblocks.”

    About Terra Pool

    Terra Pool is the world’s first carbon neutral Bitcoin mining pool, designed to reward miners with carbon neutral bitcoin. It plays a crucial role in advancing a carbon neutral Bitcoin ecosystem. When integrated with DMG’s subsidiary, Systemic Trust, a digital asset custodian, financial institutions and content creators gain the ability to send bitcoin in a regulatory-compliant and carbon neutral manner.

    About Systemic Trust Company

    Systemic Trust Company is a qualified custodian fully regulated under the Alberta Loans and Trust Corporations Act, ensuring client digital assets are managed with the highest standards of compliance and security. Systemic Trust combines regulatory compliance, cutting-edge technology and robust insurance coverage to deliver the ultimate digital asset custody experience.

    About DMG Blockchain Solutions Inc.

    DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG’s carbon neutral Bitcoin ecosystem, which offers financial institutions the choice to send bitcoin in a regulatory-compliant and sustainable manner.

    For additional information about DMG Blockchain Solutions and its initiatives, please visit www.dmgblockchain.com. Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights.

    For further information, please contact:

    On behalf of the Board of Directors,

    Sheldon Bennett, CEO & Director
    Tel: +1 (778) 300-5406
    Email: investors@dmgblockchain.com
    Web: www.dmgblockchain.com

    For Investor Relations:
    investors@dmgblockchain.com

    For Media Inquiries:
    Chantelle Borrelli
    Head of Communications
    chantelle@dmgblockchain.com

    Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    Cautionary Note Regarding Forward-Looking Information

    This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG’s strategies and plans, the potential and expectations of STC and Terra Pool, the opportunity and plans to monetize bitcoin transactions and provide additional products and services to customers and users, the continued investment in Bitcoin network software infrastructure and applications, the expected allocation of capital, developing and executing on the Company’s products and services, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.

    Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate mining difficulty.

    Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; the demand and pricing of Gen AI data centers and usage; security threats, including a loss/theft of DMG’s bitcoin; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.

    Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain and Gen AI technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs (which includes energy costs), increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.

    The MIL Network –

  • MIL-OSI USA: Job Opportunities and Training for At-Risk Youth

    Source: US State of New York

    overnor Kathy Hochul today announced $56.5 million to help approximately 21,000 young people from low-income households enter the job market this summer through New York State’s Summer Youth Employment program. As part of the FY 2026 State Budget, the State Office of Temporary and Disability Assistance is distributing funding to all 57 counties and New York City to implement a Summer Youth Employment Program to introduce at-risk youth to New York’s workforce, where they will gain professional training and develop useful skills that will help them improve educational performance and explore possible career paths.

    “Investing in our young people’s future and providing them with the resources and tools they need to succeed is a top priority of my administration,” Governor Hochul said. “The Summer Youth Employment Program helps young New Yorkers across the state find good summer jobs that provide valuable experiences and skills that will help them pursue their educational and career goals and prepare them for success in the workforce as adults.”

    The Summer Youth Employment Program supports businesses and communities across the state in providing summer jobs for youth from low-income families. Participants work in entry-level jobs at places such as parks, summer camps, child care organizations, cultural centers, educational facilities, and community-based organizations, among others.

    To be eligible for the program, youth must be between the ages of 14 and 20 and have a household income below 200 percent of the federal poverty level, which varies by household size and, for example, is $53,300 for a family of three.

    The FY 2026 State Budget included an increase of $1.5 million for the program over last year to address minimum wage increases. The program served more than 21,000 young people last summer.

    New York State Office of Temporary and Disability Assistance Commissioner Barbara C. Guinn said, “The Summer Youth Employment Program provides young people from lower-income households good summer jobs in a range of occupations that provide participants a paycheck and the important opportunity to gain valuable work experience that will support their future success in school and in the job market. The Summer Youth program is also an important part of the state’s efforts to build a strong workforce pipeline for area businesses. We are grateful to Governor Hochul for continuing to prioritize programs and policies that support the health, well-being, and future promise of New York’s youth while helping to strengthen our communities.”

    State Senator Sean Ryan said, “Connecting at-risk youth with good job opportunities helps not only them, but also their families, their communities, and our economy. This funding will boost our state’s workforce, promote safer and stronger communities, and set thousands of young New Yorkers up for successful careers.”

    Assemblymember Al Stirpe said, “The Summer Youth Employment Program empowers young people to be proactive as they work towards their future careers, all while supporting businesses and communities across the state with meaningful summer jobs. The continued funding for this program represents an investment into the future job market and a commitment to seeing all young people succeed and thrive. Thousands of young New Yorkers will have an opportunity to grow their professional skillset without the burden of economic hardship holding them back.”

    Funding Awards for the Summer Youth Employment Program Breakdown by County:

    County Funding
    Albany $774,578
    Allegany $221,757
    Broome $650,283
    Cattaraugus $321,822
    Cayuga $230,591
    Chautauqua $491,187
    Chemung $259,293
    Chenango $174,812
    Clinton $250,440
    Columbia $133,304
    Cortland $166,684
    Delaware $147,217
    Dutchess $613,770
    Erie $2,598,654
    Essex $93,743
    Franklin $188,360
    Fulton $177,426
    Genesee $140,702
    Greene $137,344
    Hamilton $13,714
    Herkimer $198,769
    Jefferson $358,283
    Lewis $97,913
    Livingston $196,071
    Madison $211,149
    Monroe $2,164,276
    Montgomery $174,934
    Nassau $1,806,927
    Niagara $568,697
    NYC $29,329,237
    Oneida $724,225
    Onondaga $1,396,576
    Ontario $254,309
    Orange $1,078,708
    Orleans $137,245
    Oswego $468,563
    Otsego $220,851
    Putnam $109,026
    Rensselaer $387,905
    Rockland $993,778
    Saratoga $333,260
    Schenectady $367,739
    Schoharie $97,089
    Schuyler $57,613
    Seneca $119,365
    St. Lawrence $490,045
    Steuben $309,545
    Suffolk $2,315,367
    Sullivan $243,516
    Tioga $140,953
    Tompkins $435,842
    Ulster $415,932
    Warren $127,626
    Washington $169,208
    Wayne $242,690
    Westchester $1,754,517
    Wyoming $129,071
    Yates $87,499
    Total $56,500,000

    Funding Awards for the Summer Youth Employment Program Breakdown by Region:

    Region Amount
    Capital Region $2,194,793
    Central NY $2,473,563
    Finger Lakes $3,841,908
    Long Island $4,122,294
    Mid-Hudson $5,209,247
    Mohawk Valley $1,553,818
    New York City $29,329,237
    North Country $1,335,713
    Southern Tier $2,237,310
    Western NY $4,202,117
    Total $56,500,000

    MIL OSI USA News –

  • MIL-OSI: TransAlta Renews Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 27, 2025 (GLOBE NEWSWIRE) — TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA) (NYSE: TAC) announced today that the Toronto Stock Exchange (“TSX”) has accepted the notice filed by the Company to implement a normal course issuer bid (“NCIB”) for a portion of its common shares (“Common Shares”).

    Pursuant to the NCIB, TransAlta may repurchase up to a maximum of 14,000,000 Common Shares, representing approximately 4.7% of the 296,449,829 Common Shares issued and outstanding as at May 20, 2025. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading systems on which the Common Shares are traded, based on the prevailing market price. Any Common Shares purchased under the NCIB will be cancelled.

    Transactions under the NCIB will depend on future market conditions. TransAlta will initially retain discretion whether to make purchases under the NCIB, and to determine the timing, amount and acceptable price of any such purchases, subject at all times to applicable TSX and other regulatory requirements. The period during which TransAlta is authorized to make purchases under the NCIB commences on May 31, 2025, and ends on May 30, 2026, or such earlier date on which the maximum number of Common Shares are purchased under the NCIB or the NCIB is terminated at the Company’s election.

    Under TSX rules, not more than 481,658 Common Shares (being 25% of the average daily trading volume on the TSX of 1,926,633 Common Shares for the six months ended April 30, 2025) can be purchased on the TSX on any single trading day under the NCIB, with the exception that one block purchase in excess of the daily maximum is permitted per calendar week.

    TransAlta has repurchased and cancelled 7,963,000 Common Shares on the open market through the facilities of the TSX and/or alternative Canadian trading systems at an average price of $12.00 per share under its prior NCIB approved by the TSX on May 27, 2024, for the twelve-month period commencing May 31, 2024.

    The NCIB provides the Company with a capital allocation alternative with a view to providing long-term shareholder value. TransAlta’s Board of Directors and Management believe that, from time to time, the market price of the Common Shares does not reflect their underlying value and purchases of Common Shares for cancellation under the NCIB may provide an opportunity to enhance shareholder value.

    About TransAlta Corporation:
    TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with clean, affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 70 per cent reduction in GHG emissions or 22.7 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA.

    For more information about TransAlta, visit its website at transalta.com.

    Cautionary Statement Regarding Forward-looking Information:
    This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “may”, “will”, and similar expressions are intended to identify forward-looking information or statements. More particularly, and without limitation, this news release contains forward-looking statements and information relating to TransAlta’s intentions with respect to the NCIB, the effects of repurchases of Common Shares and purchases thereunder, including any enhancement to shareholder value. These statements are based on TransAlta’s belief and assumptions based on information available at the time the assumptions were made. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include: the entering into of an automatic securities purchase plan; legislative or regulatory developments; any significant changes to Common Share price or trading volume; continued availability of capital and financing; changes to general economic, market or business conditions; business opportunities that become available to, or are pursued by TransAlta; and other risk factors contained in the Company’s annual information form and management’s discussion and analysis. Readers are cautioned not to place undue reliance on these forward-looking statements or forward-looking information, which reflect TransAlta’s expectations only as of the date of this news release. TransAlta disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

    Note: All financial figures are in Canadian dollars unless otherwise indicated.

    For more information:

    The MIL Network –

  • MIL-OSI: FARMERS AND MERCHANTS BANCSHARES, INC. PROVIDES UPDATE ON ITS DIVIDEND REINVESTMENT PLAN AND SEMI-ANNUAL DIVIDEND

    Source: GlobeNewswire (MIL-OSI)

    HAMPSTEAD, Md. , May 27, 2025 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), filed a Registration Statement on Form S-1 (the “Registration Statement”) with the Securities and Exchange Commission the “SEC”) for the purpose of registering shares of the Company’s common stock for issuance under a new 2025 Dividend Reinvestment Plan (the “2025 DRIP”). The 2025 DRIP will replace the dividend reinvestment plan that the Company implemented in May 2017 under which no further shares remain available for issuance. The Registration Statement is not complete and is subject to review by, and must be declared effective by, the SEC before the Company can offer or sell any shares under the 2025 DRIP.

    Because the Company cannot predict when or if the SEC will complete its review of the Registration Statement and declare it effective, and to allow stockholders sufficient time after the Registration Statement is declared effective to enroll in the 2025 DRIP, the Company’s Board of Directors has determined to delay the declaration of the semi-annual cash dividend. Although the Company can make no assurances, it anticipates that such dividend will be declared in June 2025. This one-time deviation to accommodate the 2025 DRIP does not represent an intention by the Company’s Board of Directors to alter its historical practice of declaring semi-annual cash dividends going forward.

    The information set forth in this press release is not an offer to sell, or a solicitation of an offer to buy, any securities, or a solicitation of consents with respect to any securities. Offers and sales under the 2025 DRIP may be made only pursuant to a final prospectus that will be included in the Registration Statement and distributed to stockholders if and when the Registration Statement is declared effective.

    Caution Regarding Forward-Looking Statements

    Certain statements in this report may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about, among other things, the industry and the markets in which the Company operates, are not guarantees of future performance, and involve risks, assumptions and uncertainties, including, but not limited to, risks related to the SEC’s review of the Registration Statement in the anticipated timeframe or at all. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results anticipated will be realized, or if substantially realized, will have the expected consequences on our business or operations. These and other risks are discussed in detail in the registration statements and periodic reports that the Company files with the SEC (see Item 1A of Part I of the Company’s Annual Report on Form 10-K, as amended, for the year ended December 31, 2024. Except as required by applicable laws, the Company does not intend to publish updates or revisions of any forward-looking statements that the Company makes to reflect new information, future events or otherwise.

    About Farmers and Merchants Bancshares, Inc.

    The Company is a financial holding company and the parent company of the Bank. The Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, Route 26, and Route 45 corridors. The main office is located in Upperco, Maryland, with seven additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, Eldersburg, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

    FOR FURTHER INFORMATION CONTACT:

    Mr. Gary A. Harris
    President & CEO
    (410) 374-1510, Ext. 1104

    Farmers and Merchants Bancshares, Inc.
    4510 Lower Beckleysville Rd, Suite H
    Hampstead, Maryland 21074

    The MIL Network –

  • MIL-OSI: APA Corporation Announces Appointment of Aneil Kochar as Vice President and Treasurer

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) today announced that Aneil Kochar has been promoted to vice president and treasurer, effective May 22.

    Kochar will head APA’s Treasury department, providing global oversight for the company’s capital structure analysis, financing strategies, risk insurance, banking policies, and cash and liquidity management. The role of treasurer was previously held by Ben C. Rodgers who was recently promoted to chief financial officer.

    “I am pleased to welcome Aneil to APA’s leadership team. He has vast financial experience in the oil and gas industry and has played a crucial role in APA’s financial strategies over the past five years, driving value creation and improving cash management. Aneil will be a strong addition to our executive team,” said Ben C. Rodgers, APA’s Chief Financial Officer.

    Kochar has held the position of assistant treasurer for APA since 2022, having joined the company in 2020 as the director of Finance. Before joining APA, Kochar was vice president Finance and treasurer at Chisholm Oil and Gas, where he oversaw FP&A and treasury activities. Prior to that, he worked at EIG Global Energy Partners as an investment professional, focusing on origination and management of oil and gas debt and equity investments. Kochar began his career in energy investment banking at Morgan Stanley. He holds both bachelor’s and master’s degrees in Accounting from the University of Texas at Austin.

    About APA
    APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com.

    Contacts:

    Investor: (281) 302-2286
    Media: (713) 296-7276
    Website: www.apacorp.com

    APA-F

    The MIL Network –

  • MIL-OSI: ControlUp Named a Leader in the 2025 Gartner® Magic Quadrant™ for Digital Employee Experience Management Tools for the Second Consecutive Year

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, May 27, 2025 (GLOBE NEWSWIRE) — ControlUp, a global leader in Digital Employee Experience (DEX) management tools, today announced it has been named a Leader in the 2025 Gartner® Magic Quadrant™ for Digital Employee Experience Management Tools for the second consecutive year. In our opinion, this recognition for its Completeness of Vision and Ability to Execute is supported by ControlUp’s latest innovations, sales updates, and product strategy—factors driving rapid ascent in the market and increasing traction with global enterprises.

    ControlUp believes this acknowledgement further validates the value of the ControlUp ONE platform’s unified real-time capabilities across the entire digital workspace, including desktops, physical and cloud PCs, virtual workspaces, SaaS applications, and unified communications platforms.

    “In our opinion, being recognized twice in under a year signals something bigger than just industry validation—it reflects the incredible momentum we’ve built by staying relentlessly focused on innovation and execution,” said Jed Ayres, CEO of ControlUp. “We’re charging forward solving the hardest problems around modern workplace management and building a future where intelligent automation and AI will reshape the digital employee experience. We’re in it for the long haul to help customers radically improve employee experience while dramatically reducing costs.”

    ControlUp’s vision is centered on optimizing productivity and delivering cost savings by empowering IT teams through tool consolidation and intelligent automation. The ControlUp ONE platform offers near-real-time monitoring and proactive remediation, enabling IT teams to gain a full comprehensive view of their environments and the ability to optimize every detail—from high-level system performance to individual employee issues. This unique approach provides seamless IT oversight, enhances employee productivity, reduces downtime, and creates a friction-free digital workplace. Extending its value across modern IT environments, ControlUp has strengthened its platform by expanding capabilities, including:

    • ControlUp for Apps, which brings DEX management to web and SaaS applications with real-user monitoring (RUM).
    • ControlUp Workflows, a no-code automation platform designed for IT teams to streamline operations and automate routine tasks.
    • ControlUp for Compliance added customizable security scanning and remediation schedules to strengthen digital workplace security posture and boost the end user experience.
    • Support for Microsoft Windows 365 and ChromeOS, reinforcing our commitment to supporting the evolving digital workplace.
    • Continued commitment to delivering the industry-leading solution with ControlUp for VDI, providing real-time support for VDI and DaaS deployments that remain essential for supporting frontline workers across healthcare, retail, financial services, contact centers, and government.

    “We believe being placed in the Leader quadrant for a second time in a row reinforces the long-term vision we set out with—to revolutionize how IT manages and supports the digital workplace,” said Asaf Ganot, CEO of ControlUp Labs & Co-Founder of ControlUp. “In our opinion, our continued innovation and acquisitions are what sets ControlUp apart. Our pursuit of smarter, faster, more contextual telemetry combined with empowering IT to automate and make more informed decisions matures the role of IT when it comes to the digital workplace. “

    In our opinion, Gartner Peer Insights™ reviews continue to consistently highlight ControlUp’s impact on improving IT efficiency and employee experience. As of April 2025, ControlUp ONE platform holds a 4.7 out of 5-stars out of 220 ratings.

    According to a recent review from a customer in the energy and utilities industry, ControlUp ONE “…is a fantastic tool that has changed the way we troubleshoot devices, determine our hardware specs, and find trending issues… Unlike other products, it compiles a lot of data, it works quickly, it is easy to set up, and they are CONSTANTLY adding new features.”

    Note: A complimentary copy of the 2025 Gartner Magic Quadrant for Digital Employee Experience Management Tools will be available for download starting May 29, 2025, at www.controlup.com.

    To learn more about the ControlUp ONE DEX platform, schedule a demo.

    Gartner definition of DEX tools:
    Gartner defines DEX tools as those that “measure and help IT continuously improve employee sentiment toward and the performance of company-provided technology. They continuously surface actionable insights, drive self-healing automation, and optimize support and employee engagement via the near-real-time processing of aggregated data from endpoints, applications, employee sentiment and organizational context. These insights enable self-healing and can enhance employee interactions with self-service portals and chatbots. They also help IT support, asset management, procurement and other teams whose work depends on reliable information.”

    Gartner Disclaimers:
    Gartner® Magic Quadrant™ for Digital Employee Experience (DEX) Management Tools, Dan Wilson, Stuart Downes, Lina Al Dana, 26 May 2025.

    Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

    GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant and Peer Insights is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

    Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    About ControlUp
    ControlUp is a leader in DEX, unifying Digital Employee Experience and IT operations in one powerful platform built for modern workplace management.

    By combining real-time monitoring, intelligent insights, and proactive remediation, ControlUp accelerates the shift toward Autonomous Endpoint Management (AEM)—empowering IT teams to resolve issues before they affect employees, simplify operations, and manage complexity without the clutter of multiple tools.

    Nearly 2,000 organizations, including more than one-third of the Fortune 100, trust ControlUp to keep their technology running smoothly.

    With ControlUp, IT works smarter, employees stay productive, and the workplace runs itself.

    To learn more, visit www.controlup.com .

    Press Contacts:
    ControlUp PR media@controlup.com

    The MIL Network –

  • MIL-Evening Report: One couple, two apartments, different surnames for the children: how ‘two places to stay’ is shaping families in China

    Source: The Conversation (Au and NZ) – By Xiaoying Qi, Associate Professor, School of Arts and Humanities, Australian Catholic University

    During fieldwork in cities in China I came across a new marital practice, locally described as liang-tou-dun, literally “two places to stay”.

    A bride and groom, each an only child of their respective family, receive from each set of parents a wedding apartment. The young couple thus has two marriage apartments which they may occupy at different times.

    If a couple with “two places to stay” has two children, it is likely one will have the father’s surname and the other the mother’s. This ensures that the familial lines of both families continue – but it can also entrench inequalities between siblings.

    What’s in a name?

    A child being given the mother’s surname is unconventional. The norm in China is that children take their fathers’ surname, even though Chinese women retain their birth surname after marriage.

    The adoption of patronyms – family names handed down through the male line – historically served as an instrument of consolidation for hereditary property owners. But in China patronyms lost this purpose when the Communist Party came to power in 1949 and abolished private property and inheritance. Still, patronyms persisted.

    Women in China traditionally keep their own name when they get married.
    Snowscat/Unsplash, FAL

    From 1978, Chinese government reforms led to a transition from a planned to a market economy. Since then, many Chinese families have accumulated significant wealth. Such families are focused on how to prevent the loss of property from their family line through inheritance.

    This is a real matter of concern for daughter-only families which have become numerically significant as a result of the one-child policy. This was in place from 1980 to 2015, and many (but not all) families were limited to having just one child.

    A place to stay

    Traditionally, a wife enters her husband’s family and the children take on their father’s surname.

    A traditional solution for a family without a male heir is zhao-xu, the phrase for a marriage where a man marries into his wife’s family, living with or in close proximity to her family.

    Zhao-xu not only requires cohabiting after marriage with the wife’s parents, but also that their children take the mother’s surname, ensuring continuance of the mother’s family’s line.

    A daughter-only family requires her essential role in the continuation of her family lineage.
    Macro.jr/Unsplash, FAL

    This traditional form readily adapts to the needs of daughter-only families in contemporary China. Sons-in-law in these families generally come from families with more than one son, so the husband’s family’s line is not threatened. In these circumstances the wife’s family provides a wedding apartment, furniture, household equipment, dowry and wedding banquet.

    Traditionally in China it is a son’s responsibility to support and care for his ageing parents. A daughter-only family requires her to take an essential role in carrying out elderly support obligations.

    Two names, two places

    An alternative to zhao-xu is “two places to stay”, where the bride’s parents provide her with a wedding apartment and the groom’s parents provide him with a wedding apartment. This tends to happen for young couples who are each an only child in their respective families.

    With owning two apartments, the young couple marries into neither family, but instead maintains close relationships with both. They move between two apartments, occupying one for a certain period of time and then the other.

    As each set of parents endows the young family, the grandparents play an important role in the choice of their grandchildren’s surname. If the young couple has two children then a perfect solution to continuing both family lines is that one child takes the father’s surname and the other the mother’s.

    Grandparents play an important role in the lives of their grandchildren.
    Li Lin/Unsplash, FAL

    First-born children, especially sons, have a special role in the continuity of a family line, and so it is likely the firstborn will take the father’s name.

    But if the young wife’s family has higher social or economic standing than her husband’s, it is likely the first child will take the mother’s surname.

    “Two places to stay” may generate inequalities within families. Grandparents tend to provide resources (educational, recreational and medical) to the grandchild who shares their surname.

    Because of the differences of access to resources, the future education and career prospects of siblings will reflect not their immediate family background, but the different endowments of their respective grandparents.

    Two places to stay is a new form of marriage in China, and a new form of surnaming siblings. It is a new way of doing family, an innovation in intergenerational relations.

    Xiaoying Qi received research funding from The Hong Kong Baptist University’s Start-Up Grant and the Sociology Department Research Fund.

    – ref. One couple, two apartments, different surnames for the children: how ‘two places to stay’ is shaping families in China – https://theconversation.com/one-couple-two-apartments-different-surnames-for-the-children-how-two-places-to-stay-is-shaping-families-in-china-255877

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Australia could tax Google, Facebook and other tech giants with a digital services tax – but don’t hold your breath

    Source: The Conversation (Au and NZ) – By Fei Gao, Lecturer in Taxation, Discipline of Accounting, Governance & Regulation, The University of Sydney, University of Sydney

    Tada Images/Shutterstock

    Tech giants like Google, Facebook and Netflix make billions of dollars from Australian users every year. But most of those profits are not taxed here.

    To address this tax gap, some countries have introduced a new kind of tax called the digital services tax, or DST. It applies to revenue earned from users in a country, even if the company has no physical operations there. Some European Union member countries, the UK and Canada have all introduced such a tax.

    In Australia, it is estimated the five largest tech giants recorded A$15 billion in revenue in Australia last year, but combined they paid only $254 million in tax.

    Australia has never contemplated imposing a similar tax. New Zealand tried but backed down last week after the United States threatened to impose higher tariffs on New Zealand goods.

    So what’s holding Australia back?

    How 20th-century tax treaties create 21st-century problems

    To understand why Australia thinks its hands are tied on the taxation of the multinational tech giants, we need to step back in time.

    About 100 years ago, Australia and other developed nations decided to tax residents on all their income earned worldwide, while non-residents were taxed only on income earned locally.

    After the second world war, Australia entered into tax treaties so foreign companies selling to Australian customers would no longer be taxed here. Instead, those companies’ home countries would tax all their profits.

    As the world moved to digital products this century, it became easy for giant multinational enterprises offering advertising on social media (such as Facebook and Instagram), advertising on search platforms (Google), and streaming services (Netflix) to provide those services from abroad. Little or no activity is conducted through local branches.

    But countries where the sales are made have increasingly questioned the wisdom of having forfeited their taxing rights over income by foreign providers.

    The rise of the digital services tax

    The obvious solution would have been to renegotiate the treaties. This would restore the right of countries like Australia to tax foreign companies’ profits made from local customers or users.

    However, treaty renegotiation is slow and complex. So several European countries, beginning with France in 2019, came up with a short-cut solution.

    They introduced a discrete new tax on sales of digital services, called digital services taxes (DSTs). While the specific design varies by country, most DSTs apply a low tax rate, typically between 3% and 5%, on revenue rather than profits. They target large digital platforms that earn money from users within the taxing country, regardless of the company’s location.

    Because DSTs are levied on revenue and are structured as separate from income tax, governments argued they could be introduced without breaching income tax treaties.

    The new taxes quickly became popular and spread widely.
    In Australia, the Greens have called for a DST, but both major parties have remained steadfast in their objection to a new tax. This is due to the concern that the US may impose retaliatory tariffs on Australian goods.

    US tech bosses at the inauguration of President Trump: (from left to right) CEO of Meta Mark Zuckerberg, Lauren Sanchez, Amazon founder Jeff Bezos, CEO of Google Sundar Pichai and X CEO Elon Musk.
    Julia Demaree Nikhinson/AFP

    How big is the tax loss?

    Australians are enthusiastic consumers of digital products. Depending on which companies are included in the calculation, the annual revenues vary between $15 billion and $26 billion a year, but only a fraction of that is taxed here.

    At a time when the federal budget is forecasting deficits for the foreseeable future, Australia is foregoing potentially millions in lost revenue from these digital giants.

    While Australia has avoided a DST as a solution to the income tax loss, it has been willing to regulate and tax foreign digital companies in other ways.
    Australia collects 10% goods and services tax, or GST, on digital services provided to Australian companies, including streaming platforms and app subscriptions.

    This helps ensure foreign providers are taxed similarly to domestic ones when it comes to the GST.

    Australia has also imposed non-tax obligations on digital giants such as the requirement that digital platforms pay Australian media outlets for using their news content.



    Read more:
    Australia’s ‘coercive’ news media rules are the latest targets of US trade ire

    Serious hurdles for reform

    In February, the Trump administration described DSTs as tools used by foreign governments to “plunder American companies” and warned retaliatory tariffs would be imposed in response.

    The accompanying White House fact sheet singled out Australia and Canada, arguing the US digital economy dwarfs those countries’ entire economies. It suggested any attempt to tax US tech companies would not go unanswered.

    Six weeks later, the US imposed a 10% tariff on most Australian exports to the US and a 25% tariff on steel and aluminium exports.

    The US sees its penal tariff plans as a useful negotiating tool to pressure trading partners into retreat on a broad range of peripheral complaints, including the digital services tax.

    To date, only two countries have retreated: New Zealand and India. Other countries are standing firm.

    In Australia, the Greens have called for the adoption of a DST, but the current and previous governments remain firm in their opposition. There is concern about antagonising the US at a delicate time when our broader trade relations are under scrutiny.

    For the foreseeable future, the digital giants will continue to earn billions from Australian users. Most of those profits will remain beyond the reach of Australian tax law.

    Richard Krever receives funding from the ARC

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

    – ref. Australia could tax Google, Facebook and other tech giants with a digital services tax – but don’t hold your breath – https://theconversation.com/australia-could-tax-google-facebook-and-other-tech-giants-with-a-digital-services-tax-but-dont-hold-your-breath-257251

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: The ‘3 day guarantee’ for childcare starts next year. The challenge could be finding quality care

    Source: The Conversation (Au and NZ) – By Victoria Whitington, Associate Professor in Education Futures (Adjunct), University of South Australia

    One of the Albanese government’s headline election policies was a “three-day guarantee” for childcare.

    From January 5 2026, all eligible Australian families will be able to access at least three days of subsidised early education and care until a child starts school.

    Labor will also remove the “activity test” requiring parents to work or study to receive more than minimal subsidised care.

    The government estimates more than 100,000 families will be eligible for more care. Families will also save money on fees – for example, those on a combined annual income of A$120,000 will save about $220 a week.

    But while extra financial support and scrapping the activity test will certainly help, families are still left with the challenge of finding and securing a place in a quality service.



    Read more:
    Labor guarantees 3 days of childcare and 160 new centres. What does this mean for families?

    Quality is patchy

    Over the past 20 years, the early education and care system in Australia has rapidly expanded.
    And this has sometimes come at the expense of quality.

    The sector is overseen by the national authority and state-based regulators and services need to meet national quality standards.

    But quality is patchy. While 91% of services either meet or exceed national standards, assessments can be infrequent and there are exemptions – leaving room for poor practices.

    State-based regulators are also under-resourced, compromising their capacity to keep assessments of services up to date.

    Meanwhile, about 70% of daycare centres are owned and run by for-profit providers. This means the majority have an incentive to prioritise profits over quality care and education for children.

    Recent reports of shocking abuse and neglect in some services have highlighted how quality – and basic safety – continue to be an issue for the early childhood sector.



    Read more:
    Amid claims of abuse, neglect and poor standards, what is going wrong with childcare in Australia?

    It can be impossible to find a spot

    According to the Mitchell Institute, nearly one in four Australians lives in a “childcare desert”, where more than three children compete for every available place.

    Media reports describe how families can be left waiting well over a year to find a childcare place, depending on where they live.

    In recognition of how difficult it can be to find a childcare place, the Albanese government will build 160 not-for-profit childcare centres in regions where services are hard to find.

    While this is welcome, they may not transform accessibility. The sector has more than 9,000 existing long daycare services.

    There are not enough qualified educators

    Meanwhile, staffing is a nation-wide issue. The rapid increase in early years services has made it difficult to train, recruit and employ qualified educators.

    Many services have exemptions so they can operate without the required number of qualified staff.

    Last year, without factoring in the three-day guarantee, a Jobs and Skills Australia report estimated an extra 21,000 staff were needed to meet existing demand.

    While the government is trying to increase access with the three-day guarantee, services are already struggling to provide for existing demand.

    What should families do?

    Families eligible for the new three-day guarantee are likely to find accessing care and in a quality centre a challenge.

    They will no doubt want to make sure any potential services can provide a safe, happy environment in which their child will thrive. Here are some questions parents could ask:

    • is the service meeting national quality standards or better?

    • what are the current qualifications of staff?

    • does the service have a current exemption regarding staff qualifications?

    • what is the staff turnover?

    Families could also take a tour of the service and consider:

    • how do you feel in the environment?

    • are children engaged in activities?

    • how do staff interact with the children?

    • is there a rich environment for outdoor and indoor play?

    If you have concerns, consider other services if they are available.

    Victoria Whitington has previously received research funding from the South Australian government and has current funding for research from Catholic Education SA, Ngutu College and Gowrie SA. She is chair of the Gowrie SA board.

    – ref. The ‘3 day guarantee’ for childcare starts next year. The challenge could be finding quality care – https://theconversation.com/the-3-day-guarantee-for-childcare-starts-next-year-the-challenge-could-be-finding-quality-care-256905

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ‘No support, no housing, no job’ – the vicious cycle pushing more women into prison

    Source: The Conversation (Au and NZ) – By Hilde Tubex, Professor, The University of Western Australia

    For too many women, prison is “as good as it gets”.

    New research based on interviews with 80 female prisoners in Western Australia reveals most of these women were “criminalised” by circumstances outside their control before they became offenders.

    They were victims of multiple forms of abuse, including family violence. The trajectory of their lives meant jail was almost unavoidable.

    In turn, prison became a refuge from all the problems that helped put them there in the fist place.

    Rising rates

    Internationally, women make up between 2% and 9% of the total prison population in most countries. Australia sits at the higher end with just over 8% of inmates being female – 3,426 people as of December 2024.

    Female imprisonment rates have increased at a higher rate than the national average.
    ChameleonEye/Shutterstock

    Across the globe, the numbers and rates of women in prisons are growing faster than those of men.

    We see the same trend in Australia, especially in WA. Between December 2022 and 2024, the female imprisonment rate increased by 25%. The state has the highest rate of incarcerated women after the Northern Territory.

    It is noteworthy that across the female population in WA jails, 62% of sentences are for non-violent crimes.

    Cycles of harm

    Given the significant rise in incarceration rates, we conducted our Profile of Women in WA Prisons research. Funded by the WA Department of Justice, our report investigated the pathways to imprisonment.

    We had in-depth interviews with 80 Indigenous and non-Indigenous women in eight prisons in metropolitan Perth and regional WA.

    The results confirm earlier research which showed women in the criminal justice system are frequently victims of domestic and family violence. However, there is so much more to the story of how women end up in prison. The findings are quite disheartening.

    Throughout their stories, “cycles of harm” emerged as the reason they eventually ended up in prison.

    Shared stories

    Many of the women were exposed to violence, alcohol, drugs, crime and poverty from a very early age. They described negative life events such as trauma, physical and sexual abuse, neglect and domestic violence in childhood.

    Many women view prison as a safe haven that is not available to them in the outside world.
    Andrew Agelov/Shutterstock

    Leaving home early was a common experience. Due to their young age and vulnerability, they often ended up in unsafe accommodation, with unsuitable partners.

    I left home at 15. I told my mum at 11 [about the abuse], she didn’t do anything about it. So I ran away at 14. I had a boyfriend who was much older than me. So he was nearly 20.

    Many reflected that their own use of alcohol and drugs was a way of numbing the trauma and pain:

    When I ran away, and I was with him for a few years. I remember the first time taking speed, and it just made everything so much easier to deal with. He would come home and beat the crap out of me, and I would just take drugs, and wouldn’t care.

    Reaching out for help was not something many of these women were used to doing, due to a lack of self-esteem and struggles with their mental health as a result of ongoing abuse.

    Moreover, seeking assistance often backfired, leading to their children being taken away, or the woman being misidentified as the perpetrator.

    Little support

    Throughout the criminal justice system, there was a lack of support and understanding of what led these women into criminal behaviour.

    Once incarcerated, they are in a system that is still dominated by men. They suffer particular disadvantages, such as the lack of women-specific programs and services.

    Adding to their difficulties is a lack of safe accommodation and financial support. This makes women subject to even more cycles of harm from which it is hard to escape.

    I’ve been coming in and out of prison for the last 20 years. Yeah, I’m 41 now, so in and out of here. Yeah, it’s just due to lack of housing, I’ve been homeless a lot. When I get out of prison, there’s not enough support to set me up to get me back on track in my life. And it’s just, yeah, getting out of prison with no support, no housing, no jobs.

    While the burden of imprisonment was undeniable, jail was often viewed as the only safe refuge they had from trauma, abuse and homelessness.

    Some felt prison was about as good as it was going to get for them. Many of the women we interviewed were mothers. There is evidence to suggest the offspring of these women face a higher intergenerational risk of incarceration, and new generations may suffer the same cycles of harm.

    New approach

    The evidence suggests jail is functioning as a solution to social problems like homelessness and drug addiction. This comes at a very high financial cost, with Australia spending over $6 billion a year building and operating prisons.

    Yet, we know locking people up is not necessarily creating safer communities.

    As many women have become criminalised by the various forms of interpersonal and systemic abuse they have suffered, the rising rates of female incarceration should not be approached as a criminal problem, but as an expression of a failing society letting down its most vulnerable members.

    To curb the trend, we need to identify the cycle of harm at the early stages, and interrupt the predictability of ongoing damage which leads to crime and incarceration.

    Women have specific needs. We need to address the complexity of the lives they return to after prison to prevent further offending.

    Hilde Tubex receives funding from The Western Australian Office of Crime Statistics and Research (WACSAR) Criminal Justice Research Grant.

    Natalie Gately receives funding from The Western Australian Office of Crime Statistics and Research (WACSAR) Criminal Justice Research Grant.

    – ref. ‘No support, no housing, no job’ – the vicious cycle pushing more women into prison – https://theconversation.com/no-support-no-housing-no-job-the-vicious-cycle-pushing-more-women-into-prison-257218

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Grassley, Cornyn Introduce Bipartisan Bill to Safeguard Consumers’ Genetic Data After 23andMe Bankruptcy Sparks Privacy Concerns

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) joined Sens. John Cornyn (R-Texas) and Amy Klobuchar (D-Minn.) to introduce the Don’t Sell My DNA Act to safeguard consumers’ sensitive genetic data during corporate bankruptcy proceedings.
    The Don’t Sell My DNA Act strengthens consumer privacy protections by:
    Modernizing the Bankruptcy Code to include genetic information in the definition of “personally identifiable information”;
    Requiring written notice and affirmative consumer consent prior to the use, sale or lease of genetic information during bankruptcy proceedings; and
    Requiring the trustee or debtor in possession of genetic information to permanently delete any data not subject to a sale or lease.
    “Consumers should feel confident that any personal information shared with a public company isn’t up for grabs when that company files for bankruptcy,” Grassley said. “This bill would fill gaps in current law to help safeguard consumers’ genetic information and ensure Americans’ DNA isn’t treated like any other financial asset.”
    “Advances in DNA testing have allowed Americans to have unprecedented access to important insights about their genetics, but these companies must have a plan to protect this data in the event of bankruptcy,” Cornyn said. “By updating the bankruptcy code, this legislation would safeguard Americans’ sensitive genetic information to ensure it cannot be weaponized against them or made public without their knowledge and consent.”
    “For too long companies have profited off of Americans’ data while consumers have been left in the dark, which is especially concerning in light of reports that 23andMe plans to sell customer genetic data assets to a large pharmaceutical company,” Klobuchar said. “This bill will put new protections in place to safeguard Americans’ privacy while giving consumers greater control over how their sensitive health data is shared.”
    Audio of Grassley discussing the bill is available HERE.
    Read the full bill text HERE.
    Background:
    Recent bankruptcies of genetic testing and biotech companies – such as 23andMe – have raised concerns about the protection of consumers’ sensitive genetic data.
    Under current law, the Bankruptcy Code prohibits entities from selling off “personally identifiable information,” which prevents identity theft, financial fraud and the unauthorized use of personal information. While the current definition of “personally identifiable information” includes an individual’s name, address, email, phone number, social security number and credit card number, it does not include protections for genetic information. This legislation closes that gap.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: AFTER HOUSE GOP VOTED TO MAKE LARGEST CUT TO FOOD ASSISTANCE IN HISTORY – IMPACTING 108,000 IN CENTRAL NY – SCHUMER WITH SYRACUSE-CNY FAITH LEADERS IN OSWEGO COUNTY WHICH HAS AMONG HIGHEST FOOD…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Schumer Says Trump’s ‘One Big Beautiful Bill’ Will Be Ugly For Hardworking NY Families, Decimating Healthcare & Funding For Local Hospitals, Raising Energy Costs By Slashing $$ For Clean Energy Projects Across NY & Raising Costs For Counties Across The Board By Shifting The Costs For Vital Programs Like SNAP & Medicaid
    Already The Foodbank of CNY Is Preparing To Lose ~2 Million Pounds Of Food Due To Trump’s Cruel USDA Cuts & Now With GOP Voting To Make Largest SNAP Cut In History; Senator, With Syracuse Church Leaders & Advocates, Says Double Whammy Could Hurtle Central NY & Oswego County Which Has Highest Food Insecurity In All NYS Into To A Hunger Crisis
    Schumer: No Child In Central NY Deserves To Go To Bed Hungry
    After House Republicans just last week voted to pass the largest cut to the anti-hunger program SNAP in American history, U.S. Senator Chuck Schumer stood in Central New York’s hunger hotspot, Oswego County, which has one of the top 5 highest rates of food insecurity in all of NY, with religious leaders, food banks, and farmers on the frontlines of the local fight against hunger to show the devastating local impacts the massive proposed $300 billion SNAP cut to fund Trump’s tax breaks for corporations & billionaires. Over 108,000 in Central NY rely on these anti-hunger programs for food, and Schumer joined with church leaders to detail exactly why these new cuts would be so harmful, and demand that the GOP stop this devastating assault that could hurtle Rochester and millions of others across America to a hunger crisis.
    “Last week, in the dark of night, House Republicans rushed to pass their so-called ‘Big Beautiful Bill’ in the hopes that their massive cuts to American families would go unnoticed. We are here in Oswego County which has some of the highest rates of food insecurity in New York to ensure that doesn’t happen. We are here to shine a light on how the largest cut to food assistance in history could hurtle 108,000 Central New York kids, seniors, and families into a hunger crisis,” said Senator Schumer. “Trump already canceled more than a million pounds of U.S. farm-grown food headed to hungry families in Central New York, and these cuts would be a double whammy. This is not a partisan issue, it is a moral issue. I’m here with our food banks, faith leaders, and farmers on the frontlines to stand up to protect these programs and stop this cruel cut to SNAP. Stealing from anti-hunger programs that feed Central New York families to pay for Trump’s tax breaks for corporations & billionaires is as backwards as it gets. There is nothing beautiful about cutting SNAP so children go hungry and can’t learn or have productive lives. Senate Democrats are united in opposing this cruel bill, and we are united with the people to demand the GOP block these SNAP cuts. Otherwise, it will be families here in Central New York that go hungry.”
    Schumer explained how Trump’s USDA has already cruelly canceled $1 billion in food assistance, and his FEMA has indefinitely frozen over $130 million in previously allocated funds, hurting every level of food distribution from regional food banks like the Food Bank of CNY to local food pantries like Catholic Charities Oswego Food Pantry. If these SNAP cuts move forward it would be a triple whammy for Central NY, hurtling the region’s ongoing hunger crisis to unforeseen levels. The Supplemental Nutrition Assistance Program (SNAP) is a lifeline for nearly 3 million NY seniors, veterans and families who rely on the critical funding to purchase groceries. Schumer said that we should be investing more not less in anti-hunger programs, but under the Republican proposal, the average family would be reduced to just $5.00 per day per person. A breakdown of SNAP recipients in Central New York from the Center for American Progress can be found below:

    County

    SNAP Recipients

    % of County on SNAP

    SNAP Retailers

    Cayuga

    9,215

    12.3%

    57

    Cortland

    5,933

    12.9%

    52

    Madison

    6,585

    9.8%

    68

    Onondaga

    68,796

    14.6%

    455

    Oswego

    18,184

    15.4%

    109

    TOTAL

    108,713

     

    741

    Last week, House Republicans passed a bill that would rip $300 billion away from SNAP. This proposal would impact Central New York residents in many ways, including the addition of a work requirement which would raise the age to access SNAP benefits from age 55 to age 64 and only exempt SNAP recipients from work requirements if they have someone younger than 7 years old in their household, down from the current exemption for all families with children under 18 years old.
    Schumer said, “I’m all for reducing any waste or fraud to make the program more efficient, but rushing to pass these massive damaging cuts with no plan while they slash our food banks is a recipe for disaster. Republicans are tying themselves in knots trying to justify these massive cuts. I ask my Republican friends this: which category does a hungry 7 year old fall under: are they waste? Are they fraud? Or are they abuse?”
    Schumer explained the Republican proposal to cut $300 billion from SNAP would inevitably mean costs of feeding families shift to states, who simply do not have the capacity to absorb this massive increase in expenses, risking families going hungry. Under this Republican proposal, states would be required to pay 5 – 25% of their state’s SNAP benefits based on the state’s error rate. According to the Center on Budget and Policy Priorities (CBPP), mandating New York State to cover even a modest share of SNAP benefits would shift astronomical costs to the state, with even just 5% increasing New York State’s costs by nearly $3.5 billion from FY2026 to FY2034. The senator said it is impossible to cut this much from federal SNAP funding without ripping food away from hungry children, seniors, veterans, people with disabilities, and more.
    These agonizing decisions would be amplified even further at the local level, with non-profits, many of whom have already had their funding cut, unable to fill in the gap. Counties could even be forced to shoulder the burden of increased costs in SNAP, using more local dollars to provide coverage because less federal funding will be coming in. During recessions or economic downturns, these impacts will be even more acute, as more people apply for benefits and state revenue declines, more children, seniors, veterans, people with disabilities, and more will be turned away from this vital program due to insufficient federal funding.
    According to CBPP, 20,000 people in NY-22 and 14,000 people in NY-24 reside in households with adults ages 18-64 with school-age children and would likely lose SNAP benefits under this Republican proposal, and Schumer said that is only the tip of the iceberg.
    The proposed SNAP cuts would be a blow to Central New York food banks which have already been hit hard by Trump’s funding freezes and canceled payments. Earlier this year, the USDA canceled $1 billion in food assistance for organizations to purchase locally grown food. USDA programs provide food banks, schools, and other organizations with federal support to purchase local food products from NY farms. At FEMA, $130 million in previously allocated funding for the Emergency and Food and Shelter Program has been indefinitely frozen since January. The program helps local nonprofit organizations provide food and shelter individuals and families who are experiencing, or at risk of experiencing, hunger or homelessness.
    Trump’s USDA and FEMA cuts have already hit Central New York hard. At the Food Bank of CNY, which delivered over 22.9 million pounds of food and over 19 million meals to families across 11 Upstate NY counties in 2024, USDA cuts have already caused a loss of over $450,000 and may cause additional losses of up to $1 million per year, translating to an estimated 500,000 pounds of food and 100,000 meals annually. At Catholic Charities of Oswego County, which served 2,213 adults, 1,368 children, and 360 seniors in 2024, FEMA cuts will slash as much as $14,000 from their food pantry in Fulton, forcing them to cut back on hundreds if not thousands of meals each year. Elsewhere in Oswego County, USDA cuts jeopardize food security for the 10,000 people served by Oswego County Opportunities last year, including 150 people suffering from intellectual or developmental disabilities, mental illnesses, chemical addiction, or homelessness, and more than 50 families with pre- / post-partem women and infant children. In Onondaga County, USDA cuts have meant less food available, unhealthier options, and increased competition. At the Interfaith Community Collective food pantry in Syracuse, USDA cuts have already forced pantry staff to reduce the amount of meals served, shorten meal service time, and even turn people away hungry. At New Americans Blessing Box, USDA cuts have made it more difficult to find fresh foods like vegetables, fruits, and meats, as well as culturally targeted foods like Halal chicken, jasmine rice, and spices.
    Schumer said these proposed cuts will limit food banks’ ability to keep shelves stocked as more people have been forced to rely on food banks to feed their families. Food bank workers and religious leaders across Upstate New York are concerned about the impact of potential cuts to SNAP on the people they serve, and farmers are worried there will be nowhere to sell their food if SNAP funding levels drop.
    “No matter which way you slice it, this Congressional Republican plan will screw Central New York families, food banks and farmers from farm to table. We need everyone to stand up to these cuts that would take away food from our neighbors in need,” added Schumer.
    Murray Gould, Food Pantry Director, St. Lucy’s Church of Syracuse, “We at St. Lucy’s Church are grateful for the efforts of Senator Schumer for highlighting this critical issue. We have seen a 40% increase in people seeking our assistance at our pantry in the last nine months. We do know that approximately 75% of our clients receive snap benefits. The proposed reduction in snap as well as the devastating decrease in funding to the food. SNAP cuts will be creating more hunger in our communities. As a faith based community in our neighborhood, these proposed changes can only be described as cruel.”
    Maura Ackerman, Executive Director of the Syracuse-Onondaga Food Systems Alliance, said, “SNAP is one of the most powerful tools we have to fight hunger and poverty, especially for families with children. In a city like Syracuse – with the highest child poverty rate among U.S. cities with populations over 100,000 – that support is not just meaningful, it’s essential. Every SNAP dollar feeds a neighbor and strengthens our local economy, generating nearly twice its value in economic activity. This is about investing in our kids, our communities, and our collective future. We can’t let politics stand in the way of basic human needs. We’re grateful to Senator Schumer for championing this commonsense, bipartisan priority. Making sure children have enough to eat should never be up for debate.”
    Brian Reeves, Owner, Reeves Farm said, “Cuts to food assistance programs have several negative impacts to our communities; fewer people receive adequate nutrition, farmers sell less of their production, and any excess unsold production can over supply the marketplace and drive down the price the farmer receives for the food which does get sold. On behalf of farmers across New York, I would like to thank Senator Schumer for fighting to ensure that critical SNAP dollars keep flowing to help farms like mine continue providing fresh, nutritious, locally grown food to the members of our community who need it the most.”
    Sheila Dion, Founder & Director, Erin’s Angels of CNY said, “Hunger is not a political issue, it is a human issue. Cutting SNAP benefits is not just a budget decision—it’s a moral decision. Oswego County is often cited among the New York Counties with the highest rates of child food insecurity. According to Feeding America, seventy six percent of the families in Oswego County are income eligible for federal nutrition programs. Every day, we see firsthand the impact hunger has on children in our community. These proposed cuts would leave thousands of kids without the nutrition they need to grow, learn, and thrive. At Erin’s Angels, we fill the weekend gap, but SNAP is the lifeline that helps families feed their children the rest of the week. Undermining this program would deepen food insecurity across the country—and hurt the most vulnerable among us. We would like to thank Senator Chuck Schumer for helping to raise awareness of this very important issue and for advocating for the hungry in New York State and in Oswego County. By denouncing SNAP cuts, highlighting the negative effects these cuts will have on millions of New York residents, calling for a coalition to oppose these devastating cuts, demanding action from New York state republicans to oppose these cuts and protect SNAP, securing funding for food banks, advocating for farmers and visiting food banks across the state he has consistently demonstrated his commitment to addressing hunger and supporting those facing food insecurity in New York State.”
    Roseann Bayne, Assistant Superintendent for Instruction, CiTi BOCES said, “Cuts to SNAP will deepen the crisis of food insecurity in Oswego County—already among the highest in New York State. Over 26% of adults here are food insecure, and nearly one in four school-age children live in poverty—well above state and national averages. Even small cuts in benefits could push many from low food security into true hunger, especially seniors surviving on below-average Social Security and limited retirement income. And our students? Many arrive at school undernourished, disadvantaged before the day even begins—struggling at times to focus, learn, or thrive. SNAP isn’t about handouts; it’s a lifeline for families, seniors, and individuals doing their best to get by. Many folks here work full-time and still earn far less than the ALICE survival budget. Opinions and misinformed judgment don’t feed people. Policy rooted in compassion and facts does. On behalf of CiTi BOCES, I thank Senator Schumer for coming to Oswego County to advocate for the critical SNAP funds that our community depends on.”
    Peter O. Nwosu, President, SUNY Oswego said, “At SUNY Oswego, we recognize that students cannot achieve academic success while facing food insecurity. That’s why, through our Empire State Service Corps, we’ve established a dedicated team of students who provide peer-to-peer support to help their classmates apply for SNAP benefits. This work reduces barriers and empowers students to focus on their education without the burden of basic needs insecurity. We are committed to sustaining this and other vital services to help our students succeed. We are grateful to Senator Schumer for his ongoing advocacy to expand and protect SNAP access for college students. His continued leadership is instrumental in ensuring that higher education remains accessible and equitable for all.”
    Josh Stephani, Director, Adirondack Food System Network said, “Federal cuts to SNAP have disastrous implications the communities across the Adirondacks, our most vulnerable individuals, and further threaten our food system. Nearly one third of our population is supported by SNAP – children, seniors, and many families are supported through this important program. Alongside rising costs for transportation, housing, and living in the region, many families are already struggling to provide for their families without enough resources. These vital programs work to support our economy and provide for our families in need. Specifically, by cutting SNAP, we are placing further economic hardships on our North Country communities, reducing the $300 million economic benefit of this program into our Adirondack region and putting the health of our neighbors at risk. For the communities who call this place home, these programs are a vital lifeline for their moments of need. On behalf of the Adirondack Food System Network, we thank Senator Schumer for his continued advocacy for these critical and lifesaving programs for our communities, New Yorkers, and the entire country. The Adirondacks are often seen as the last mile for essential services, and we are proud to have the Senator as an advocate for the North Country advocating on our behalf.”
    Proposed rollbacks to the country’s most widely utilized nutrition assistance program would strain budgets for Central New York families. Schumer said decimating funding for SNAP right as costs at grocery stores across the country are skyrocketing will hit Central New York hard. According to the New York State Community Action Association, more than 17% of people in Oswego County live in poverty, including nearly 25% of children. According to No Kid Hungry, over half of New Yorkers reported going into debt in the past year due to rising food costs, with over 60% of families with children. In Oswego County, more than 26% of adults self-report as food insecure per the NYS Department of Health, and over 20% of children are food insecure according to Feeding America. With 1 in 4 adults and 1 in 5 children suffering from food insecurity, Oswego County food insecurity is the highest of any county in Central New York.
    SNAP not only supplements families’ food budgets, it has also generated great economic benefits for New York State and NY-24 specifically. According to the National Grocers Association, grocery stores across New York State sold over $2.1 billion in groceries to people using SNAP benefits, including $103.3 million in NY-24. This created more than 18,500 New York jobs in the grocery industry, including 910 in NY-24, and generated more than $820.8 million in grocery industry wages, including $40.2 million in NY-24.

    MIL OSI USA News –

  • MIL-OSI: GDS Announces Launch of Proposed Public Offering of ADSs

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 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 the commencement of a proposed offering of 5,200,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share, subject to market and other conditions, in an underwritten registered public offering (the “Primary ADSs Offering”). The underwriters will have a 30-day option to purchase up to 780,000 additional ADSs.

    The Company will receive all of the net proceeds from the Primary ADSs Offering and plans to use such net proceeds for general corporate purposes, working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.

    The Company also announced today by separate press release that the Company has commenced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of a certain number of its ADSs (the “Borrowed ADSs”) that the Company will lend to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering in order to facilitate privately negotiated derivative transactions by some holders of the Notes for purposes of hedging their investment in the Notes. The Company expects to enter into an ADS lending agreement (the “ADS Lending Agreement”) with an affiliate of the initial purchaser of the Notes Offering (such affiliate being the “ADS Borrower”), pursuant to which the Company will lend the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs and the Company will not receive any of those proceeds, but the ADS Borrower will pay the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company’s ADSs otherwise prevailing at that time.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes, the Borrowed ADSs or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADSs Offering is conditioned upon the closing of each of the other offerings and vice versa. If the concurrent Notes Offering is not consummated, the Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the concurrent Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    J.P. Morgan, BofA Securities, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers, and China Galaxy International and Guotai Junan International are acting as financial advisors for the Primary ADSs Offering.

    The Company has filed an automatic shelf registration statement on Form F-3 with the SEC. A prospectus supplement and the related base prospectus describing the terms of the Primary ADSs Offering have been filed with the SEC. When available, the final prospectus supplement for the Primary ADSs Offering will be filed with the SEC. The Primary ADSs Offering is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus supplement and the accompanying base prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting: (i) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; (ii) BofA Securities, Inc., One Bryant Park, New York, NY, 10036, Attention: Prospectus Department, telephone: +1 (800) 294-1322, email: dg.prospectus_requests@bofa.com; (iii) Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or (iv) UBS Investment Bank, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com.

    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.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    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 –

  • MIL-OSI: GDS Announces Proposed Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 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 the commencement of a proposed registered public offering of American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share, which the Company intends to loan (such loaned ADSs, the “Borrowed ADSs”) to an affiliate of the underwriter in the offering (such affiliate, the “ADS Borrower”) pursuant to an ADS lending agreement with the ADS Borrower (the “ADS Lending Agreement”).

    The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs. The Company will not receive any proceeds from the ADSs Offering but will receive from the ADS Borrower a nominal lending fee, which will be applied to fully pay up the Class A ordinary shares underlying the Borrowed ADSs. The Company believes that the Borrowed ADSs will not be considered outstanding for the purpose of computing and reporting its earnings per ADS under the current U.S. Generally Accepted Accounting Principles and, therefore, the Company believes that no dilution will occur as a result of the Borrowed ADSs.

    The Company also announced today by separate press release that the Company has commenced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Primary ADSs Offering”) of 5,200,000 ADSs (the “Primary ADSs”), subject to market and other conditions. The underwriters in the Primary ADSs Offering will have a 30-day option to purchase up to 780,000 additional ADSs.

    Concurrently with the Notes Offering, an affiliate of the ADS Borrower will sell the Borrowed ADSs in a registered public offering (the “Delta Placement of Borrowed ADSs”) offered by us pursuant to a prospectus supplement and an accompanying prospectus, as described below. The number of Borrowed ADSs will be determined at the time of pricing of the Delta Placement of Borrowed ADSs, and such Borrowed ADSs are expected to be sold concurrently with the pricing of the Notes and the Primary ADS Offering. The Delta Placement of Borrowed ADSs is intended to facilitate privately negotiated derivative transactions so some investors in the Notes could concurrently hedge their investment in the Notes. The Company has been informed by the ADS Borrower that it or its affiliates intends to use the short position resulting from the Delta Placement of the Borrowed ADSs to facilitate privately negotiated derivatives transactions related to the Notes. The number of Borrowed ADSs to be sold will depend on what portion of Notes investors in the desire to hedge their investments and is expected to be no greater than commercially reasonable initial short positions of convertible arbitrage investors. The activity described above could affect the market price of the Company’s ADSs or the Notes otherwise prevailing at that time.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Borrowed ADSs, the Notes or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADS Offering is conditioned upon the closing of each of the other offerings and vice versa. If the concurrent Notes Offering is not consummated, the concurrent Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    The Company has filed an automatic shelf registration statement on Form F-3 with the SEC. A prospectus supplement and the related base prospectus describing the terms of the Delta Placement of Borrowed ADSs have been filed with the SEC. When available, the final prospectus supplement for the Delta Placement of Borrowed ADSs will be filed with the SEC. The Delta Placement of Borrowed ADSs is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus supplement and the accompanying base prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com.

    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.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    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 –

  • MIL-OSI: UAB “Atsinaujinančios energetikos investicijos” Starts Exchange And Cash Tender Offer For Notes ISIN LT0000405938

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE IN THIS STOCK EXCHANGE RELEASE BELOW.

    • Under the Exchange offer, the Noteholders of Notes ISIN LT0000405938 (EUR 2021/2025 Notes) may exchange the EUR 2021/2025 Notes to new senior unsecured Notes ISIN LT0000134439 (EUR 2025/2027 Notes) to be issued at an exchange ratio of 1 to 1. These EUR 2025/2027 Notes will carry an annual interest rate of 8.0% and be issued under Final Terms and Base Prospectus approved on 27 May 2025.
    • Investors participating in the Exchange offer will receive unpaid accrued interest in cash from 14 December 2024 until 13 June 2025 (including) to be paid on 16 June 2025.
    • Under Cash Tender offer the Noteholders of EUR 2021/2025 Notes may receive a cash payment of 99 per cent of Denomination per each EUR 2021/2025 Note tendered on 13 June 2025, plus unpaid accrued interest in cash from 14 December 2024 until 13 June 2025 (including) to be paid on 16 June 2025.
    • The Exchange offer period for Noteholders of EUR 2021/2025 Notes will run from 28 May 2025 to 11 June 2025, 2:30 pm CEST/3:30 pm Vilnius time.
    • Cash Tender offer period for Noteholders of EUR 2021/2025 Notes will run from 28 May 2025 to 12 June 2025, 2:30 pm CEST/3:30 pm Vilnius time.

    Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos” has launched its public offering of EUR 2025/2027 Notes and an offer to exchange its EUR 2021/2025 Notes for new EUR 2025/2027 Notes, or alternatively, to tender the EUR 2021/2025 Notes (Denomination of EUR 100,000 and integral multiples of EUR 1,000) for a cash payment of EUR 99.00 per Denomination. The objective is to refinance the EUR 2021/2025 Notes and issue new EUR 2025/2027 Notes in an amount up to EUR 65 million.
    Manager of Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos”: “With the exchange offer, we are offering existing EUR 2021/2025 Notes investors a possibility to conveniently switch their investment maturing on December 2025 to the newly issued debt securities. As to the cash offer, since after the sale of Polish PV portfolio at the end of 2024 the company has collected excess cash proceeds, it was decided to provide an additional liquidity opportunity for existing investors to tender their notes to the Issuer. The company has allocated up to EUR 10 million for the tender offer which can be increased up to EUR 30 million subject to demand of new EUR 2025/2027 Notes.”
    Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos” has appointed FMĮ UAB Orion Securities to act as the Lead Manager to UAB “Atsinaujinančios energetikos investicijos” in Exchange and Cash Tender offer for EUR 2021/2025 Notes.

    EXCHANGE AND CASH OFFER
    Noteholders of the EUR 2021/2025 Notes (ISIN LT0000405938) are invited to:

    • Exchange their existing EUR 2021/2025 Notes (ISIN LT0000405938) at a 1:1 ratio for new senior unsecured EUR 2025/2027 Notes (ISIN LT0000134439) with a denomination of EUR 100,000 and integral multiples of EUR 1,000, carrying an annual interest rate of 8.0% to be issued under Final Terms and Base Prospectus approved on 27 May 2025.
    • In case there is an oversubscription of EUR 2025/2027 Notes the investors shall be satisfied and the number of EUR 2025/2027 Notes to be allocated to each investor shall be determined upon the discretion of the Issuer.

    Alternatively, the Noteholders of the EUR 2021/2025 Notes (ISIN LT0000405938) may:

    • Tender their existing EUR 2021/2025 Notes (ISIN LT0000405938) for cash payment of 99 per cent of Denomination per each EUR 2021/2025 Note tendered to be paid on 13 June 2025, plus accrued and unpaid interest from 14 December 2024 until 13 June 2025 (including) to be paid on 16 June 2025.
    • Cash offer is of minimum EUR 10 million; cash offer maximum amount of EUR 30 million is subject to demand of new EUR 2025/2027 Notes.

    The existing EUR 2021/2025 Notes not exchanged or tendered will remain outstanding and be redeemed at maturity.

    INFORMATION ON OFFERING PROCESS
    All noteholders will be notified of the offer through their depository banks. Upon instructing their custodian to participate—either by exchanging notes or tendering for cash—the respective EUR 2021/2025 Notes will be restricted from trading. Notes not instructed for participation will remain freely tradable.
    Exchange Offer Period: 28 May 2025 – 11 June 2025, closing at 2:30 pm CEST / 3:30 pm Vilnius time.
    Results Announcement: On or around 13 June 2025.

    NEW EUR 2025/2027 NOTES

    Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos” intends to issue new EUR 2025/2027 Notes in an amount of EUR 65 million with the following features:

    • Interest rate of 8.0% per annum.
    • Maturity of 2,5 years.
    • Terms and conditions: Final Terms and Base Prospectus. Documents are available at: https://lordslb.lt/AEI_green_bonds_2025/.
    • Listing on Nasdaq Vilnius Stock Exchange (Regulated Market).
    • Distribution period: from 28 May 2025 to 11 June 2025, 2:30 pm CEST/3:30 pm Vilnius time.

    INVESTOR PRESENTATIONS
    Manager of Closed – End Investment Company Intended for Informed Investors UAB “Atsinaujinančios energetikos investicijos” Mantas Auruškevičius will present the offer via webcast/conference call:

    • English-language session: 4 June 2025 at 13:00 CEST / 14:00 Vilnius time. Please register in advance to attend:

    https://us06web.zoom.us/webinar/register/WN_d32cZE8xSqyFs8tcMpwLqA#/registration

    • Lithuanian-language session: 5 June 2025 at 9:00 CEST / 10:00 Vilnius time. Please register in advance to attend:

    https://us06web.zoom.us/webinar/register/WN_wxUoUAWzQ9244uO9HlNX-g#/registration

    CONTACT INFORMATION

    For questions about the Exchange offer, please contact Orion Securities via email: corporateaction@orion.lt, phone: +37068758168.
    Further details and required documents are available at: https://lordslb.lt/AEI_green_bonds_2025/

    IMPORTANT INFORMATION
    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or any other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Persons into whose possession this announcement may come are required to inform themselves of and observe all such restrictions.
    This announcement does not constitute an offer of securities for sale in the United States of America. The notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States of America and may not be offered or sold, directly or indirectly, within the United States of America or to, or for the account or benefit of, U.S. persons (as defined under Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
    This announcement does not constitute an offer of notes to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the notes. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “Relevant Persons”). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.

    Mantas Auruškevičius
    Manager of Closed – End Investment Company Intended for Informed Investors
    UAB “Atsinaujinančios energetikos investicijos”
    mantas.auruskevicius@lordslb.lt

    The MIL Network –

  • MIL-OSI USA: Malliotakis Celebrates SALT Relief in House Tax Package

    Source: United States House of Representatives – Congresswoman Nicole Malliotakis (NY-11)

    “I’m proud to be delivering long-overdue tax relief to working Americans, middle-class families and senior citizens,” said Rep. Nicole Malliotakis. “As our Mayor and Governor continue to tax us to death year after year, our community is in desperate need of SALT relief. This package also includes key provisions like expanding the Child Tax Credit, funding to secure our borders, upgrading our nation’s air traffic control systems, and jumpstarting domestic energy production to help lower energy costs. Together, these measures will provide the critical relief New Yorkers need and deserve.”

     

    “If you look across Staten Island and Southwest Brooklyn, that’s what you have homeowners living in one, two, and three family homes. We want to make sure that as the cost of living continues to rise that we are able to help homeowners keep a bit more money in their pockets, and that is what this SALT deduction restoration is going to be doing. It is going to allow folks to better afford the homes they already have and maybe for some of our aspiring homeowners who are looking to put down that down payment, get a mortgage, it is going to be a little easier knowing that property tax bill is going to be deducted on their federal income taxes,” said Councilman David Carr.

     

    “Congresswoman Nicole Malliotakis is a tireless, principled, passionate voice for the people of Staten Island and Brooklyn. She doesn’t just talk about helping the middle class — she actually does it. This bill builds on the 2017 Trump tax cuts, and it goes even further — cutting taxes, cutting red tape, and cutting through the nonsense that’s been hammering families like mine for years,” said Councilman Frank Morano.

     

    “Rep. Nicole Malliotakis has consistently fought to ease the financial burden on hard-working families in New York, one of the most heavily taxed states in the nation. Recognizing how unfair the 2017 cap on the State and Local Tax (SALT) deduction was to middle-class homeowners, especially in high-tax states like New York, she led the charge in advocating for its restoration and reform. By working to lift the SALT cap, Rep. Malliotakis helped deliver real tax relief to families who were being penalized simply for living and working in their home state. Her efforts not only put more money back into the pockets of New Yorkers but also helped make the region more affordable and economically competitive — a critical step toward preventing the outmigration of residents and businesses,” said Assemblyman Michael Tannousis.

     

    “Raising the SALT cap is a huge win that delivers BIG savings for Staten Island families and seniors. But this is not the end of the road for us here in New York: Albany Democrats are likely already finding ways to snatch those savings right back with more taxes, fees, and reckless policies. That’s what they do best: take, spend, and then cry broke. I will be there to fight them – for you – every step of the way. I am incredibly grateful to have an unrelenting partner in Congresswoman Malliotakis who will go to bat and deliver for Staten Islanders at all costs,” said Assemblyman Sam Pirozzolo.

     

    “The Congresswoman’s successful push to quadruple the SALT deduction to $40,000 is a big win for our community. It eases the financial strain on middle-class homeowners caused by New York’s high property taxes. We appreciate her commitment to our economic well-being,” said the Port Richmond North Shore Alliance.

    MIL OSI USA News –

  • MIL-OSI Security: Medical Equipment Business Owner Sentenced to Federal Prison and Ordered to Pay Over $6 Million in Restitution for a Conspiracy to Commit Health Care Fraud

    Source: Office of United States Attorneys

    Louisville, KY – A former Kentucky resident was sentenced last week to 2 years and 9 months in federal prison for engaging in a conspiracy to commit health care fraud in connection with durable medical equipment businesses.    

    U.S. Attorney Michael A. Bennett of the Western District of Kentucky and Special Agent in Charge Kelly J. Blackmon of the Department of Health and Human Services, Office of Inspector General (HHS-OIG), made the announcement. 

    According to court documents, Pedro Reyes, 54, formerly of Elizabethtown, Kentucky, was sentenced to 2 years and 9 months in prison, followed by 2 years of supervised release, for one count of conspiracy to commit health care fraud. Reyes, through multiple Kentucky companies, executed a scheme in which he fraudulently billed Medicare for durable medical equipment (orthopedic equipment, to including back, knee, and shoulder braces) that was medically unnecessary, unwanted by patients, and not prescribed by the patients’ medical providers.

    “I commend the tenacious work of the HHS-OIG and the prosecution team in this matter,” said U.S. Attorney Bennett. “Let this case serve as notice to those who plan to cheat the system. You will be identified, aggressively prosecuted, spend time in federal prison, and, in the end, pay back your ill-gotten gains.”

    “The defendant’s exploitation of the Medicare program and its enrollees for unlawful financial gain constitutes a serious breach of trust and a misappropriation of resources for the public,” said Special Agent in Charge Blackmon. “HHS-OIG is unwavering in our commitment to safeguarding the integrity of the Medicare and other federal healthcare programs.”

    There is no parole in the federal system.

    Reyes was also ordered to pay restitution in the amount of $6,004,916.

    This case was investigated by HHS-OIG.

    Assistant U.S. Attorney Christopher Tieke prosecuted the case, with assistance from healthcare fraud investigator Bob Masterson.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Brandywine Man Sentenced for Federal Identity Theft and Bank, Wire, and Passport Fraud Charges

    Source: Office of United States Attorneys

    Baltimore, Maryland – Today, United States District Judge Stephanie A. Gallagher sentenced Llyod Linwood Comer, 63, of Brandywine, Maryland, to 41 months in federal prison, followed by three years of supervised release — with the first seven months on home detention — for conspiracy to commit wire fraud and bank fraud, passport fraud, identity theft, and possession of a firearm by a prohibited person. 

    Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the sentence with Acting Assistant Director of Investigations Joseph Jung, U.S. Department of State, Diplomatic Security Service (DSS), and Special Agent in Charge Colleen Lawlor, Social Security Administration, Office of the Inspector General (SSA-OIG) – Philadelphia Field Division.

    According to Comer’s guilty plea, from 2019 to 2021, Comer and his co-conspirator, Doreen Gilmore, aka Doreen Flummerfelt, 57, conspired to engage in a series of fraudulent schemes involving stolen identities.  The defendants used the names and identifying information of victims to purchase vehicles, and open or attempt to open, bank accounts and obtain bank cards. 

    Vehicles that the defendants acquired by using stolen identities included a 2017 Ford Explorer, fraudulently financed in the amount of $34,710; a Harley-Davidson motorcycle, fraudulently financed in the amount of $20,320; a second 2016 Harley Davidson motorcycle, fraudulently financed in the amount of $29,612; and a 2017 Coachmen Leprechaun RV fraudulently financed in the amount of $60,250.  Comer and Gilmore also submitted a mortgage application in Gilmore’s mother’s name, in the amount of $433,200, to purchase a residence in Brandywine, Maryland. 

    Comer and Gilmore sent multiple iterations of the loan application document to the lender over a few weeks, and sent a final, signed application of the loan on May 26, 2020.  They eventually secured a loan, based on the application, to purchase the home in Brandywine. Ultimately, the lender approved the loan, relying on the false and fraudulent information and documents that Comer and Gilmore submitted.

    In addition, Comer obtained a fraudulent United States passport by using identifying information from Gilmore’s deceased brother.  Then on December 13, 2019, Comer used the fraudulently obtained passport to travel to Jamaica for a weeding.

    On June 1, 2021, law-enforcement agencies executed a federal search warrant at the Brandywine residence. During the search, authorities found numerous identification-related documents bearing the names, Social Security numbers, dates of birth, and/or other identifying information belonging to various victims.  Among other items, authorities found identity documents bearing identification information from Gilmore’s mother and various victims in the residence. 

    During the June 1 search, law-enforcement agents also recovered 13 firearms and more than 6,600 rounds of ammunition.  Comer knowingly possessed the firearms and ammunition.  Authorities proved Comer possessed the firearms and ammunition through digital videos on electronic devices that they recovered during the search.

    Videos show Comer holding and apparently firing some of the firearms at the Brandywine residence.  The firearms and ammunition were “firearms” and “ammunition” as defined by federal law and were manufactured outside the state of Maryland.  Prior to possessing the firearms and ammunition on June 1, Comer was convicted of a crime punishable by imprisonment for a term exceeding one year, his civil rights had not been restored, and he knew this status when he possessed the firearms and ammunition.

    Gilmore was previously sentenced to time served followed by three years of supervised release for conspiracy to commit wire fraud and bank fraud, passport fraud, and identity theft.  The court also ordered the defendants to pay $52,355 in restitution to various victim businesses.

    U.S. Attorney Hayes commended DSS and SSA-OIG for their work in the investigation.  Ms. Hayes also thanked Assistant U.S. Attorney Michael C. Hanlon who prosecuted the case.

    For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to report fraud, visit justice.gov/usao-md  and justice.gov/usao-md/community-outreach.

    # # #

    MIL Security OSI –

  • MIL-OSI: Gevo Promotes Leke Agiri to Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., May 27, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), is pleased to announce the appointment of Oluwagbemileke (Leke) Agiri as Chief Financial Officer, effective as of May 21, 2025. Mr. Agiri succeeds L. Lynn Smull, who will continue with the Company in a new role as Executive Vice President and Senior Advisor to the Chief Executive Officer, focusing on strategic initiatives and to aide and support a seamless transition.

    Mr. Agiri brings extensive experience and leadership in corporate finance, capital markets, and strategic growth, both organic and inorganic. Since joining Gevo in August 2022, he has served in key leadership roles, most recently as Executive Vice President, Finance, where he has been instrumental in driving financial strategy and planning. His prior experience includes finance positions in the renewable energy and energy sectors at organizations including Bank of America (BAC), Occidental Petroleum Corporation (OXY) and Anadarko Petroleum Corporation (APC). Mr. Agiri earned a Masters in Business Administration in Finance and Energy from Jones Graduate School of Business at Rice University and a Bachelor of Science in Chemical Engineering from the University of Virginia.

    “We’ve been developing Leke to replace me as the CFO as I approach retirement in my future. Leke has stepped up to every challenge that we have thrown at him. I look forward to a smooth transition with him. It’s my duty to make sure I can help Gevo in any way possible. I also look forward to bringing my skills to bear on some of the exciting projects that Gevo is developing,” said Lynn Smull, Executive Vice President and former CFO of Gevo.

    “Leke has been an integral part of our finance team and has demonstrated outstanding leadership and expertise in advancing Gevo’s mission,” said Patrick Gruber, CEO of Gevo. “His appointment reflects our long–term succession planning and confidence in his ability to help lead Gevo through its next phase of growth.

    This leadership evolution reflects Gevo’s commitment to building a strong, future-ready team capable of executing on its ambitious goals for innovation and value creation.”

    About Gevo
    Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including synthetic aviation fuel (“SAF”), motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent carbon capture and sequestration (“CCS”) facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring, and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

    For more information, see www.gevo.com.

    Forward-Looking Statements
    Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the promotion of Leke Agiri, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2024, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

    Media Contact
    Heather L. Manuel
    VP, Stakeholder Engagement & Partnerships
    PR@gevo.com

    Investor Contact
    Eric Frey, PhD
    Vice President of Finance & Strategy
    IR@gevo.com

    The MIL Network –

  • MIL-OSI: TeraWulf Acquires Beowulf Electricity & Data, Streamlining Corporate Structure

    Source: GlobeNewswire (MIL-OSI)

    EASTON, Md., May 27, 2025 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, next-generation digital infrastructure primarily powered by zero-carbon energy, announced today the acquisition of 100% of the membership interests of Beowulf Electricity & Data LLC and its affiliates (collectively, “Beowulf E&D”). The strategic transaction simplifies TeraWulf’s corporate structure and eliminates a related-party relationship consolidating resources under a unified operating framework.

    Transaction Overview

    The total consideration for the transaction is approximately $52.4 million, consisting of $3 million in cash and 5 million shares of TeraWulf common stock issued at closing. The agreement also includes up to $19 million in contingent cash payments and up to $13 million in additional common stock, subject to the achievement of key milestones related to the expansion of TeraWulf’s data center business and project financing initiative. As part of the acquisition, 94 employees from Beowulf E&D – including Lake Mariner site staff and corporate support personnel – have transitioned to TeraWulf employment. In addition, the existing services agreement with Beowulf E&D, which had included substantial ongoing payments, has been terminated in conjunction with the closing. The Company’s previously announced 2025 cost guidance, including SG&A expenses of $40-$45 million and operating expenses of $20-$25 million, remains unchanged following the acquisition.

    Strategic Rationale        

    The acquisition provides several key strategic benefits:

    • Strengthened Vertical Integration and Energy Expertise. Beowulf E&D brings deep experience in the development and operation of power generation assets and related electrical infrastructure. Integrating this capability directly into TeraWulf supports the Company’s long-term growth strategy, especially as power generation becomes increasingly integral to high-power compute operations.
    • Enhanced Access to Capital Markets. A simplified corporate structure improves transparency for debt investors and facilitates the creation of a repeatable, efficient process for accessing project financing in support of upcoming HPC infrastructure initiatives.
    • Expanded Investor Appeal. The elimination of a related-party structure enables broader engagement with institutional and long-only investors who may have been constrained by related-party disclosures in prior filings.

    “This acquisition consolidates our operations under a single, unified structure,” said Kerri Langlais, Chief Strategy Officer of TeraWulf. “It enhances transparency, strengthens governance, and provides greater strategic flexibility as we pursue long-term growth and value creation. With all employees operating under one roof, we are well-positioned to scale our next-generation infrastructure and support the evolving demands of AI and high-power compute workloads.”

    The transaction was negotiated and approved by a special independent committee of the Company’s Board of Directors comprised entirely of independent directors (the “Independent Committee”). The Independent Committee consulted independent legal counsel Reed Smith LLP and received a fairness opinion from Piper Sandler & Co. in connection with the transaction.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for bitcoin mining and hosting HPC workloads. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through bitcoin mining, leveraging predominantly zero-carbon energy sources, including hydroelectric and nuclear power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “seek,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “strategy,” “opportunity,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) the ability to mine bitcoin profitably; (2) our ability to attract additional customers to lease our HPC data centers; (3) our ability to perform under our existing data center lease agreements (4) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates; (5) the ability to implement certain business objectives, including its bitcoin mining and HPC data center development, and to timely and cost-effectively execute related projects; (6) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to expansion or existing operations; (7) adverse geopolitical or economic conditions, including a high inflationary environment, the implementation of new tariffs and more restrictive trade regulations; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability and cost of power as well as electrical infrastructure equipment necessary to maintain and grow the business and operations of TeraWulf; and (10) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com 

    Media:
    media@terawulf.com 

    The MIL Network –

  • MIL-OSI: Nasdaq Announces Mid-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date May 15, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 27, 2025 (GLOBE NEWSWIRE) — At the end of the settlement date of May 15, 2025, short interest in 3,168 Nasdaq Global MarketSM securities totaled 13,735,568,588 shares compared with 13,300,707,903 shares in 3,156 Global Market issues reported for the prior settlement date of April 30, 2025. The mid-May short interest represents 2.41 days compared with 2.40 days for the prior reporting period.

    Short interest in 1,639 securities on The Nasdaq Capital MarketSM totaled 2,731,907,808 shares at the end of the settlement date of May 15, 2025, compared with 2,645,060,429 shares in 1,636 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period’s figure was 1.00.

    In summary, short interest in all 4,807 Nasdaq® securities totaled 16,467,476,396 shares at the May 15, 2025 settlement date, compared with 4,792 issues and 15,945,768,332 shares at the end of the previous reporting period. This is 1.79 days average daily volume, compared with an average of 1.92 days for the prior reporting period.

    The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller.

    For more information on Nasdaq Short interest positions, including publication dates, visit
    http://www.nasdaq.com/quotes/short-interest.aspx
    or http://www.nasdaqtrader.com/asp/short_interest.asp.

    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.

    Media Contact:
    Maximilian Leitenberger
    Maximilian.leitenberger@nasdaq.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/07645b24-4544-4adc-9f01-d13106b38966

    NDAQO

    The MIL Network –