NewzIntel.com

Category: Economy

  • MIL-OSI Security: Billings woman sentenced to 11 years in prison for drug and gun charges

    Source: Office of United States Attorneys

    BILLINGS – A Billings woman who admitted trafficking fentanyl while possessing a firearm was sentenced today to 11 years in prison to be followed by five years of supervised release, U.S. Attorney Kurt Alme said.

    Renee Esperanza Arambula, 27, pleaded guilty in November 2024 to possession with intent to distribute fentanyl and brandishing a firearm in furtherance of a drug trafficking offense.

    U.S. District Judge Susan P. Watters presided.

    The government alleged in court documents that in early 2023, the DEA began investigating Arambula for suspected drug trafficking. Agents discovered by reviewing financial documents that between May 2020 and January 2023, Arambula deposited over $230,000 of cash into the bank and received thousands more through electronic payment but was making only a small fraction of that through formal employment. Much of the money was proceeds of drug trafficking.

    Based on its financial analysis, witness interviews, surveillance, and other investigative techniques, the DEA learned Arambula was trafficking fentanyl and other drugs in and around Billings, Montana. Specifically, individuals admitted purchasing more than 400 grams of fentanyl from Arambula between late 2020 and early 2023.

    According to statements at the sentencing hearing and court documents, on January 28, 2023, during the course of her drug trafficking, Arambula used a firearm to shoot two unarmed men. She shot the first man at point-blank range in the neck, rendering him a paraplegic. Arambula then shot the second man in the abdomen as he was pleading for her not to shoot. Law enforcement recovered fentanyl pills and a firearm in Arambula’s possession.

    The United States Attorney’s Office prosecuted the case. The investigation was conducted by the DEA and Billings Police Department.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results. For more information about Project Safe Neighborhoods, please visit Justice.gov/PSN.

    MIL Security OSI –

  • MIL-OSI: ZA Miner Launches Free Crypto Cloud Mining Platform to Democratize Bitcoin and Dogecoin Earning in 2025

    Source: GlobeNewswire (MIL-OSI)

    Where Innovation Meets Finance: ZA Fundings LTD.

    MIDDLESEX, United Kingdom, May 20, 2025 (GLOBE NEWSWIRE) — ZA Miner, a UK-based leader in eco-friendly cloud mining, has launched its free cloud mining platform, allowing Bitcoin, Dogecoin, and Litecoin enthusiasts to earn passive income without expensive hardware or upfront investments.

    As global interest in decentralized finance continues to rise, ZA Miner removes traditional entry barriers, offering a seamless, sustainable way for both beginners and crypto investors to mine cryptocurrencies remotely.

    Free Mining, Real Earnings

    New users receive a $100 free mining contract immediately upon registration, enabling them to start earning from day one, no capital needed. This offering aligns with ZA Miner’s mission to make crypto mining accessible, secure, and inclusive.

    Mining Made Easy

    ZA Miner’s platform requires no downloads. Once users create an account, mining begins automatically using high-performance rigs located in energy-efficient data centers in Iceland and Kazakhstan, regions known for low electricity costs and access to renewables.

    Users can monitor earnings in real-time and upgrade to premium plans for increased profitability. Mining payouts are distributed daily, stored in cold wallets protected by SSL encryption and DDoS protection.

    Highlights of ZA Miner’s Cloud Mining Platform

    • $100 Free Mining Bonus – Start mining immediately.
    • No Hardware or Setup Required – 100% cloud-based.
    • Mine BTC, DOGE, LTC – Leading crypto options.
    • Daily Payouts – Consistent passive income.
    • Eco-Friendly Mining – Uses solar and wind energy.
    • Global Access – Available in 100+ countries.
    • Affiliate Program – Up to 7% commissions.
    • UK-Regulated – Operates under compliance frameworks.

    Empowering Global Access to Crypto

    By removing financial and technical hurdles, ZA Miner helps individuals worldwide participate in the crypto economy, offering a sustainable alternative to traditional, costly mining models.

    As digital currencies grow mainstream, ZA Miner is committed to expanding financial access through its intuitive platform and global initiatives.

    Getting Started

    Mining with ZA Miner is simple:

    • Register an Account – Takes less than a minute.
    • Claim $100 Contract – Begin mining immediately with no upfront cost.
    • Upgrade Anytime – Choose paid plans to increase mining returns.

    Get Started with $100 and Earn more with ZA Miner

    To claim a free $100 cloud mining contract, visit www.zaminer.com. Follow ZA Miner on Twitter: @zamining and YouTube: youtube.com/@Zaminers.

    About ZA Miner

    ZA Miner is a cloud mining service provider based in the United Kingdom, offering secure, user-friendly, and eco-conscious cryptocurrency mining solutions. With a mission to make digital asset mining accessible worldwide, ZA Miner combines regulatory compliance, renewable energy, and financial inclusion to lead the future of decentralized finance.

    Media Contact:
    Anisah Fatema Sheikh
    ZA FUNDINGS LTD
    info@zaminer.com
    https://www.zaminer.com

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/719abd74-ebac-4dad-9cee-c3aa89b03ecf
    https://www.globenewswire.com/NewsRoom/AttachmentNg/3e093320-e642-44b3-ae72-522049cbc681

    The MIL Network –

  • MIL-OSI United Kingdom: Scottish Nitrogen Balance Sheet 2022

    Source: Scottish Government

    Statistics on Scottish Nitrogen Balance Sheet published today.

    The Scottish Nitrogen Balance Sheet (SNBS) 2022 presents the Nitrogen Use Efficiencies (NUEs) which are the headline measures of the SNBS and show the percentage of useful nitrogen outputs, for example food, relative to total nitrogen inputs.  

    In 2022, the whole economy NUE figure was 27%. Although the whole economy figure is dominated by food production, this figure is lower than the NUE for food production due to the inclusion of sources such as transport which produce no useful nitrogen outputs. The NUE for all food production is 33%, with the figure for agriculture ( 33%) being very similar, given that agriculture dominates food production. The 33% figure for all of agriculture comprises values for arable agriculture ( 70%) and livestock based agriculture ( 10%).

    The largest component of nitrogen use in Scotland is associated with food production. Overall, out of the 66.9 kt N / yr of total useful nitrogen-containing outputs produced in Scotland, almost 89.5% of these are associated with food production (namely 53.6 kt N / yr of foodstuffs from agriculture, with the remainder from aquaculture and landings from sea fisheries).

    Background

    The full statistical publication is available at:  https://www.gov.scot/publications/scottish-nitrogen-balance-sheet-2022/

    The units kt N / yr refers to thousands of tonnes of nitrogen consumed or produced per year.

    Livestock based agriculture is inherently less nitrogen efficient than arable agriculture because only a small proportion of the ingested nitrogen by livestock ends up in useful nitrogen-containing produce.

    This is the fourth time these data have been compiled.

    Official statistics are produced by professionally independent statistical staff – more information on the standards of official statistics in Scotland can be accessed at: https://www2.gov.scot/Topics/Statistics/About

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Over 16.9 thousand foreign citizens received Mongolian e-visa in the first four months of 2025

    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

    ULAN BATOR, May 20 (Xinhua) — A total of 16,930 foreign nationals have received Mongolia’s e-visa in the first four months of 2025, local media reported on Tuesday, citing data from the country’s Foreign Citizens and Nationality Affairs Office.

    During the specified period, more than 2,282 applications for Mongolian e-Visa were rejected due to incomplete documents.

    Currently, Mongolia’s economy relies heavily on the export of mineral resources. Tourism promotion is considered one of the priority areas for diversifying the country’s economy and increasing the competitiveness of the national tourism industry in the context of global competition.

    In this regard, the Mongolian government has decided to continue the Years to visit Mongolia tourism program until 2028.

    According to the Office of Foreign Citizens and Nationality Affairs, Mongolia began issuing visas electronically on October 1, 2021. In 2024, a total of 92,427 foreign citizens received Mongolia’s e-visa.

    An electronic visa to Mongolia can be obtained by citizens of 99 countries entering for a guest, business, tourist visit, as well as to participate in scientific, cultural, socio-political, economic and sports events. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: MIR is now in Iran – the geography of the Russian payment system cards has expanded

    Translation. Region: Russian Federal

    Source: Mainfin Bank –

    How does the integration of payment systems work?

    The integration of the MIR payment system from the Russian Federation and Shetab from Iran has been ongoing in recent years – within the framework of an agreement signed by the heads of the central banks of the states. The interaction takes place in three stages:

    In the summer of 2024, Shetab cardholders were given the opportunity to withdraw money from self-service terminals in Russia; now Russians can make purchases at cards MIR in Iran, but in a limited number of locations – where Spaparak terminals are installed; in the near future, Iranians will also be able to pay for purchases with their cards in the Russian Federation.

    Acceptance of Russian cards in Iran is available for MIR plastic with contactless payment function – transactions via NFC (payment by smartphone) also work. For small purchases, entering a PIN code is not required.

    In which other countries can Russians pay with MIR cards?

    The geography of MIR cards has been steadily expanding since the departure of key payment systems from Russia – unconditional acceptance of plastic is available in Belarus, Abkhazia, Ossetia, and Cuba (they are planning to issue MIR cards on the island). Plastic is accepted with restrictions in a number of CIS countries, as well as in popular destinations among Russian tourists, including Vietnam, Laos, and the Maldives.

    “Given the difficult geopolitical situation, tourists traveling abroad are advised to stock up on cash and purchase “All Inclusive” tours in order to protect themselves as much as possible from possible financial problems with Russian cards,” the expert noted.

    At the same time, in 2024, due to the risk of secondary sanctions, several countries refused to work with the NPS “MIR”, including Kyrgyzstan, South Korea, Uzbekistan and Turkey. Negotiations on the possible integration of payment systems are ongoing with India, Indonesia, Mexico, Egypt and Thailand.

    09:45 05/20/2025

    Source:

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https://mainfin.ru/novosti/mir-teper-iv-irane-geografia-raboty-kart-rossijskoj-plateznoj-sistemy-rassirilas

    MIL OSI Russia News –

  • MIL-OSI Russia: Polytechnic Day held at Gazprom School

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The private educational institution Gazprom School Saint Petersburg held the career guidance project Polytechnic Day. Teachers from Peter the Great Saint Petersburg Polytechnic University held a series of master classes for eighth-graders, introducing them to different educational profiles: physics and mathematics, humanities, economics and natural sciences.

    The program began with classes in the natural sciences. Schoolchildren, together with students of the Institute of Biomedical Systems and Biotechnology Ekaterina Plotnikova, Ekaterina Makarova and Anastasia Pevzner, immersed themselves in the world of molecular cuisine. They mastered the technique of spherification, learned how to create molecular threads and spheres from foam.

    Associate Professor of the Higher School of Service and Trade Boris Lyamin and Chairperson of the SNO IPMET Margarita Yanchevskaya told schoolchildren about the principles of lean manufacturing. In the format of a business game, students analyzed problems arising from the inefficient organization of the workspace and proposed solutions.

    At a lecture on digital engineering, Tamara Korobova, an engineer at the Computer Engineering Center, explained to students majoring in engineering the basics of computer modeling and engineering analysis. She also spoke about the role of a digital engineer in the modern technological world.

    Teachers of the Humanities Institute Elena Krupnova and Anastasia Savina held classes for classes of linguistic and social-humanitarian profiles. In the lesson “Digital linguistics in the modern world” schoolchildren learned about a promising direction at the intersection of linguistics and IT, discussed the tasks of digital linguists and participated in a thematic quiz. Anastasia Savina held a master class “Practical techniques for effective communication”, where participants completed exercises to develop listening skills, learned to work with non-verbal signals, and also mastered methods of establishing contact with the interlocutor, maintaining interest in the dialogue and holding attention.

    Polytechnic Day at Gazprom School is an important part of our interaction with leading educational institutions. We tried to make the program as practice-oriented as possible so that schoolchildren could get acquainted with promising areas of training in an interactive form. Such events help students to consciously approach the choice of their future profession, – emphasized the acting director of the Center for Work with Educational Organizations Georgy Shkolnik.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: MHRA highlights “remarkable” progress and launches real-world data consultation on International Clinical Trials Day

    Source: United Kingdom – Executive Government & Departments

    Press release

    MHRA highlights “remarkable” progress and launches real-world data consultation on International Clinical Trials Day

    “…the MHRA is once again taking a global lead” says Lord O’Shaughnessy

    Major progress has been made in delivering a more efficient and adaptable regulatory framework for clinical trials, the Chief Executive of the Medicines and Healthcare products Regulatory Agency (MHRA) has reflected on International Clinical Trials Day.

    New regulations – which represent the most significant update to the UK clinical trials landscape in 20 years – are designed to put participants firmly at the centre of how trials are run, while supporting faster, more streamlined approvals, making it easier to test new treatments in the UK.

    Lawrence Tallon, MHRA Chief Executive said:

    I’ve experienced first-hand the life-changing impact clinical research can have on patients and their families. This, combined with the benefits it brings to the economy, is why it’s so important we ensure the UK is one the most attractive places in the world to conduct trials.

    The UK is already a research powerhouse driven by innovation, with one in eight trials in the UK testing treatments in humans for the first time.

    But we want to go further. Last month, we began implementing the most significant update to UK clinical trials regulation in over two decades. These reforms will address the research sector’s need for a more risk-proportionate regulatory framework for clinical trials and will help get cutting-edge new treatments to the NHS as quickly as possible.

    Lord O’Shaughnessy, former health minister, senior partner at Newmarket Strategy and author of the landmark report into the UK commercial clinical trials landscape said:

    The progress the MHRA has made in the two years since I published my review has been remarkable. Despite its global reputation for excellence, by 2023 trial approval set up times had slipped badly.

    The MHRA is now delivering consistently good approval times while introducing further reforms to add speed and flexibility to the process.

    With a clear mandate from the Prime Minister to reduce trial set up times to 150 days – which would be genuinely world-leading – the MHRA is once again taking a global lead.

    Professor Sir Martin Landray, Chief Executive of Protas, said:

    I am delighted with the progress the MHRA has made to deliver an efficient and coordinated regulatory process for clinical trials.

    Innovation in clinical trials is much needed if we are to find better ways to prevent and treat the growing burden of common and life-threatening diseases. The UK can be in pole position to lead the charge, and regulatory enlightenment is a key part of this journey.

    Developed in partnership with the Health Research Authority (HRA), and shaped by feedback from patients, researchers, doctors, and industry, the new regulations will take full effect from April 2026, following the 12-month implementation period.

    To ensure these substantial reforms are phased in effectively, the MHRA and Health Research Authority (HRA) will be producing updated guidance. Already, the MHRA and HRA have launched a pilot Inclusion and Diversity Plan. Shaped by input from over 300 researchers, it offers practical guidance to help sponsors design more representative studies, to ensure that trials represent the populations they are designed to treat.

    In the meantime, the MHRA has embedded improvements in processing clinical trial applications into standard working practice, with 100% of clinical trials and investigations applications having been handled within statutory timescales since September 2023.

    Combined Review approval time with the Health Research Authority is now at 60 days or less for all trials, with an average time for Combined Review determination (including questions raised) of 40 days in March 2025.

    Launch of consultation on use of real-world data

    Beginning on International Clinical Trials Day, the MHRA is launching a six-week consultation on the use of real-world data for external control arms of clinical trials, which has the potential to help accelerate the approval of treatments, especially in cases when randomised controlled trials may not be ethical or feasible. It is another example of the work the MHRA is doing to support the set-up of innovative trials.

    Real-world data refers to information that is collected from patients during the course of their normal clinical care. Data can include electronic health records (EHR), disease and patient registries, and patient reported outcomes (PRO) data, alongside data from other sources. Once this data is analysed, the information is referred to as real-world evidence (RWE).

    The new guidance is for those planning a clinical trial which may include a real-world data external control arm with the intention of using the trial to support a regulatory decision on a medical product. This means that a control arm of the study would use data from patients not part of a specific clinical trial.

    To access the guideline and participate in the consultation, please visit the MHRA website.

    Notes to editors  

    • Today (20 May 2025) is International Clinical Trials Day, which recognises the day the first randomized clinical trial began in 1747. As part of celebrations, the MHRA is proud to support the National Institute for Health and Care Research (NIHR) in its #BePartofResearch campaign

    • The Lord O’Shaughnessy review into UK commercial clinical trials made 27 recommendations where action should be taken by the government and delivery partners, including the Medicines and Healthcare products Regulatory Agency (MHRA), to address key challenges and transform the commercial clinical trials environment. The Government has committed to implementing his recommendations in full.

    • The real-world data guidance is one of a series of guidelines on the use of real-world data for supporting regulatory decisions

    • For media enquiries, please contact the newscentre@mhra.gov.uk, or call on 020 3080 7651.

    Updates to this page

    Published 20 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council welcomes new campaign to promote physical activity

    Source: City of Wolverhampton

    Move Together is designed to inspire residents to embrace movement as part of their daily lives.

    It was launched by Active Black Country and the 4 Black Country councils earlier this month, and seeks to break down the barriers to activity, empowering every resident to become more physically active.

    It will also raise awareness of the spaces and places where people can move more and be active and showcase the wealth of accessible activity opportunities across the region.

    Sport England’s Active Lives Survey identifies the Black Country as the most inactive Active Partnership area within England. Latest data shows that 34.6% of adults were classed as inactive – a slight fall in inactivity rates over the last 12 months, but still a long way behind the national average of 25.1%.

    Councillor Obaida Ahmed, who was named Cabinet Member for Health, Wellbeing and Community at the council’s AGM last Wednesday, said: “I warmly welcome the new Move Together campaign and, as a council, we are delighted to be part of its efforts to help people in Wolverhampton and across the Black Country increase their physical activity levels.

    “Regular physical activity can help people improve their heart health, build strong bones and muscles, reduce symptoms of anxiety and depression, and cut the risk of developing some health conditions.

    “This campaign is all about how everyone, regardless of age, ability, or background, can become more physically active, whether that is at their local WV Active leisure centre or by joining one of the hundreds of activities, many of them free, taking place across the region – because, from walking cricket to wrestling and kabaddi, there’s bound to be something for all of us.

    “Getting people active also forms a key part of Health and Wellbeing Together’s Physical Activity Strategy, with Wolverhampton’s health and wellbeing board determined to create a city where everyone can be physically active every day.”

    The campaign is fronted by Paralympic legend Ellie Simmonds MBE who said: “Being active has always been such an important part of my life. It hasn’t just been for my physical health, but for my confidence, mental health and happiness.

    “The best thing is that you don’t even have to be an athlete to feel the benefits – or have ever done sports. Whether it’s a walk with friends, dancing in your living room, or joining a local group, moving and being active can make a massive difference.

    “That’s why I’m so proud to support the Move Together campaign – because everyone deserves the chance to feel the joy and freedom that being active can bring.”

    Active Black Country’s Chief Executive Ian Carey added: “Together with our strategic partners, we have developed an inspiring campaign that can motivate people from different backgrounds to move more and be physically active so they can enjoy the multiple health and wellbeing benefits that an active lifestyle provides.

    “This campaign will showcase the breadth and diversity of activity opportunities on everyone’s doorsteps and show just how accessible they are, empowering Black Country residents to embrace movement as part of their daily lives.

    “Thanks to Sport England for their ongoing financial support, the Move Together campaign champions the ‘Uniting the Movement’ strategy that aims to provide everyone in England – regardless of postcode, background or bank balance – the opportunity to get active.”

    To find out more about the Move Together campaign and how you can get involved, visit Active Black Country. To find local activities, visit Black Country Moving.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Director disqualified for 11 years after dishonestly securing Covid loan for Lincoln plumbing and heating company

    Source: United Kingdom – Executive Government & Departments

    Press release

    Director disqualified for 11 years after dishonestly securing Covid loan for Lincoln plumbing and heating company

    Carl Barnes, the director of Central Plumbing & Heating Lincoln Ltd, made false statements about the company’s turnover to secure a Bounce Back loan  

    • Carl Barnes applied for a Bounce Back loan of £47,500 for Central Plumbing & Heating Lincoln Ltd.   

    • He declared the company had a turnover of £340,000 when in reality it was nothing.   

    • Barnes has been banned as a company director for 11 years. The Secretary of State accepted a voluntary disqualification undertaking offered by him.   

    The director of a plumbing and heating company has been banned for 11 years after overstating his company’s turnover by hundreds of thousands of pounds to secure a Covid Bounce Back loan.   

    Carl Barnes, of Ollerton Road, Retford, was the director of Central Plumbing & Heating Lincoln Ltd, which was incorporated in April 2016.    

    The company, based on Wavell Drive in Lincoln, made a small profit in its first year of trading, but dormant accounts were filed by Barnes in the following years.   

    In August 2020, the 45-year-old falsely claimed the company had a turnover of £340,000 for 2019, despite the actual turnover being £0. 

    He received a Covid Bounce Back loan for the company of £47,500 which it was not entitled to.   

    Barnes was disqualified as a director for 11 years on 17 April 2025, with the ban beginning on 8 May 2025.   

    Kevin Read, Chief Investigator at the Insolvency Service, said:   

    Carl Barnes exploited the Bounce Back Loan Scheme by providing false information about his company’s turnover.   

    His dishonesty has resulted in this significant director disqualification, which prevents him from forming or managing a company for more than a decade.    

    The Insolvency Service will continue to investigate those who abused this scheme – designed to help small businesses during the pandemic – and bring them to justice.

    Central Plumbing & Heating Lincoln Ltd went into liquidation in October 2022.   

    The disqualification order prevents Barnes from being involved in the promotion, formation or management of a company, without the permission of the court.   

    Further information

    Updates to this page

    Published 20 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI China: China’s lending benchmark decline to help bolster economic recovery

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

    China’s market-based benchmark lending rates declined on Tuesday in the latest sign that the authorities are ramping up efforts to bolster economic momentum.

    The one-year loan prime rate (LPR) went down to 3 percent from the previous reading of 3.1 percent, while the over-five-year LPR, on which many lenders base their mortgage rates, was lowered to 3.5 percent from 3.6 percent, according to the National Interbank Funding Center.

    Tuesday’s LPR decline — the first this year — is expected to further reduce the borrowing costs of businesses and individuals, improve market confidence, and support the steady growth of the real economy.

    Analysts said the lowered interest rates sent a clear signal that China is resolved to stabilize the market and expectations amid global uncertainties.

    LPRs are used to price a wide range of lending rates, from consumer loans to business loans and mortgages. Lower rates will ease the burden on borrowers, leading to more investment and consumption.

    For a standard commercial housing loan of 1 million yuan (nearly 140,000 U.S. dollars) over 30 years, the latest LPR adjustment could save borrowers over 50 yuan in monthly interest payments, translating into nearly 20,000 yuan in total interest savings over the life of the loan.

    The lowering of the LPR was widely anticipated by the market. At a press conference on May 7, Pan Gongsheng, the governor of the People’s Bank of China, announced a 0.1-percentage point cut in the policy rate. The following day, the central bank reduced the seven-day reverse repo rate to 1.4 percent, paving the way for the subsequent decline in the LPR.

    The falling interest rates came as part of China’s efforts to implement a moderately loose monetary policy this year. Authorities have on multiple occasions pledged timely cuts in the reserve requirement ratios and interest rates to maintain sufficient liquidity and support the economy.

    In April, the average weighted interest rate on newly issued corporate loans stood at about 3.2 percent, down 50 basis points from a year earlier. Meanwhile, the average rate on new residential mortgages dropped to around 3.1 percent, a 55-basis-point decline. Both rates marked historic lows.

    The downward trend is mirrored on the deposit side as well. Major commercial banks on Tuesday announced reductions in deposit interest rates. The one-year fixed-term deposit interest rate was lowered by 15 basis points to 0.95 percent. The rates also came to 1.05 percent for two years, 1.25 percent for three years, and 1.3 percent for five years.

    Tian Xuan, president of the National Institute of Financial Research of Tsinghua University, said the reduction in both lending and deposit rates will stimulate demand for credit, drive consumption and investment, and inject new vitality into China’s economic recovery.

    Official data showed the Chinese economy maintained stable development in the first four months of this year, with faster growth in retail sales of consumer goods, a robust service sector, resilient imports and exports, and steady fixed-asset investment and industrial output.

    MIL OSI China News –

  • MIL-OSI China: Beijing boosts tourism with new products, discounts

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

    Beijing kicked off the 2025 China Tourism Day on Monday with a launch event in Fengtai district. 

    Under the theme “Discover Beijing’s Endless Charms,” the celebrations introduced a rich package of cultural and tourism offerings, including 100 innovative travel products, over 500 public-benefit events, and financial support totaling more than 150 million yuan (US$20.77 million), all designed to make travel in the capital more accessible and exciting.

    The celebrations also featured a city-level main event in Fengtai district and supporting activities across 15 districts of the city. 

    A total of 512 measures are announced, covering seven key areas such as accommodation, shopping, and entertainment. These measures include ticket discounts and public performances, benefiting travelers of all ages.

    In addition, seven themed zones were across the city districts, covering vacation experiences, tech showcases, gourmet tastings, cultural products, performances, and consulting services. 

    This year’s celebrations focused on introducing brand-new cultural and tourism products to boost local businesses. Over 100 innovative travel products were unveiled, including first stores, new policies, travel routes, cultural creative products, and more. 

    In support of these efforts, Beijing has introduced policies aimed at encouraging new forms of consumption in the cultural and tourism sectors. The city has also allocated 10 million yuan of subsidies to consumers.

    MIL OSI China News –

  • MIL-OSI: UGO Token Launches on PancakeSwap With Hybrid Model

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, May 20, 2025 (GLOBE NEWSWIRE) — UGO, the latest innovation in the Gooo, UGO, and WeGo ecosystem, officially unveils its groundbreaking Hybrid Token Model now live for trading on PancakeSwap, introducing a new paradigm for crypto launches—one rooted in fairness, sustainability, and real-world utility.

    In a market saturated with speculation and short-term gains, UGO takes a bold step toward creating a more balanced and inclusive Web3 economy. Traders can now access UGO through decentralized trading on PancakeSwap, while the token’s user-centric reward structure seeks to empower users, promote longevity, and foster true ecosystem participation.

    “This isn’t just another token launch—it’s a reimagining of how Web3 ecosystems can and should operate,” said the UGO founding team. “We believe that sustainability, fairness, and utility must coexist from day one. The Hybrid Token Model is our answer to that challenge.”

    The UGO Difference: A Launch Built for Long-Term Value

    UGO moves away from traditional crypto launch tactics that favor insiders and early profit takers. Instead, it launches with a hybrid model engineered to protect users, encourage community participation, and support long-term growth:

    • All VC and team tokens are fully locked for 12 to 48 months

    • Only 5 percent of the token supply is unlocked at launch

    • Pricing is driven by decentralized exchanges through automated market makers

    • Everyone can participate freely with no whitelist or early-access restrictions

    This launch strategy combines the accessibility of fair launches with the capital efficiency of IDOs, while avoiding the flaws of both.

    2024: A Breakout Year for UGO

    Security and Transparency

    UGO has achieved a 9.5 out of 10 security score from leading blockchain auditor Hacken. The token is live and actively trading on PancakeSwap and fully verified on BscScan. UGO is also integrated with major platforms, including CoinMarketCap and MetaMask.

    Strong Traction Through Gooo Platform

    In Vietnam, a thriving pilot has already brought thousands of users into the Gooo app. These users are earning Gooo Points through everyday real-world activities. Global expansion is scheduled for the first quarter of 2025.

    WeGo Brings Financial Utility

    WeGo has successfully completed testing of its debit card prototype. Strategic partnerships have been secured to enable multi-currency support. UGO token integration is entering its final development phase, bringing real-world spending closer to reality.

    Why Traders Are Turning to UGO

    UGO’s launch structure solves many of the common challenges seen in the crypto space:

    • With 95 percent of tokens locked at launch, price volatility is minimized

    • Team and advisor tokens follow a strict four-year vesting schedule, ensuring aligned incentives

    • Launch access is fully decentralized with no insider advantages

    What’s Ahead in 2025

    • Global expansion of the Gooo rewards platform

    • Listings on major centralized and decentralized exchanges

    • Launch of the WeGo debit card with support for multiple currencies

    • Development of DAO governance to give users control over the ecosystem’s future

    Trade UGO today:

    $UGO is now trading on PancakeSwap with contract address 0x66a2ed2F04BC7D2a03785DD04261A2FA595a5839. Experience fair price discovery through decentralized trading.

    Trade $UGO on PancakeSwap

    About the Ecosystem

    The Gooo, UGO, and WeGo ecosystem is a revolutionary platform that rewards users for performing their primary jobs, offering them Gooo Points as a bonus to their income. These points can be redeemed for goods and services or converted into UGO tokens for broader utility. Moving beyond rewards, the ecosystem’s third phase, WeGo, introduces neo-banking services, a multi-crypto wallet, and worldwide debit card solutions, bridging the gap between traditional finance and cryptocurrency.

    For more information, visit UGO’s website.

    Contact Details:
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    The MIL Network –

  • MIL-OSI Asia-Pac: Fraudulent website and internet banking login screen related to Fubon Bank (Hong Kong) Limited

    Source: Hong Kong Government special administrative region

    Fraudulent website and internet banking login screen related to Fubon Bank (Hong Kong) Limited 
    The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
     
    Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the website or login screen concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.
    Issued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government announces projects to be implemented by Working Group on Developing Tourist Hotspots

    Source: Hong Kong Government special administrative region

    The Deputy Chief Secretary for Administration, Mr Cheuk Wing-hing, today (May 20) held a press conference to announce nine projects to be implemented by the Working Group on Developing Tourist Hotspots (Working Group). Also attending the press conference were the Secretary for Culture, Sports and Tourism, Miss Rosanna Law; the Under Secretary for Security, Mr Michael Cheuk; the Under Secretary for Home and Youth Affairs, Mr Clarence Leung; the Under Secretary for Environment and Ecology, Miss Diane Wong; the Under Secretary for Development, Mr David Lam; and the Commissioner for Tourism, Mrs Angelina Cheung.
     
    Mr Cheuk said, “New travel patterns and tourists’ preferences increasingly value hotspots with unique features that are part of the flavour of Hong Kong. As there are many treasured tourist attractions in Hong Kong, we consider that in addition to creating new hotspots, current tourism resources should be consolidated and enriched to maximise the value of these hotspots and create attractions that tourists cannot miss.
     
    “The Working Group has gathered opinions from different sectors of the community and considered different proposals. From the many options, we have at this stage selected nine appealing and feasible projects that can be implemented within a short period. Through upgrades of hardware and software, renovations and enhancements, maintenance and renewal of attractions, provision of ancillary services and facilities as well as opening up places that have not been open to the public before, tourists will be offered new experiences that are more in-depth and fascinating.”
     
    The nine projects to be implemented are:
     
    1. Hong Kong Industrial Brand Tourism

    Hong Kong’s industrial story fully embodies the spirit of the Lion Rock. The tourism industry is forming groups to develop “Made in Hong Kong” industrial tourism, creating hotspots for visitors to tour, experience and shop. Industrial brands that can be visited include Lee Kum Kee, Kee Wah, Pat Chun and Yakult. A trial launch is expected in the third quarter of this year.
     
    2. Victoria Park Bazaar 
    3. Creating a Pink Trumpet Tree Garden 
    4. Featured community – In-depth travel in Old Town Central 
    5. Featured community – In-depth travel in Kowloon City 
    6. Disciplinary Services Pioneer Tours 
    7.   Opening of the Former Yau Ma Tei Police Station 
    8.        “Four Peaks” Tourism 
    9. Revistalising the Former Hung Hom Railway Freight Yard Pier 
         “The above hotspots span across the territory, underlining the concept of ‘tourism is everywhere in Hong Kong’. There are indoor and outdoor hotspots, locales for visits and explorations, as well as places for enjoying the ecology and scenery. They cater for travellers’ individual preferences, which can easily fit in different travelling routes for creating pleasant journeys. Hong Kong will gain in popularity and prosperity as the hotspots will bring economic benefits, boost consumption sentiment and stimulate the economy,” Mr Cheuk said.
     
         “The Government will engage the trade proactively, making good use of various resources for marketing and promotions, creating innovative travelling routes and new products for tourist groups. This new initiative will capitalise on the characteristics of different tourist hotspots, to enhance their attractiveness. With concerted efforts, I firmly believe Hong Kong’s tourism industry will attain a new level of prosperity.”
     
         The Chief Executive announced in the 2024 Policy Address that a Working Group on Developing Tourist Hotspots will be set up, and the Deputy Chief Secretary for Administration will be the leader. The Working Group aims to strengthen cross-departmental co-ordination and leverage community efforts, identify and develop tourist hotspots of high popularity and with strong appeal in various districts. Other members of the Working Group include the Secretary for Culture, Sports and Tourism (deputy leader), the Secretary for Commerce and Economic Development, the Secretary for Development, the Secretary for Environment and Ecology, the Secretary for Home and Youth Affairs, the Secretary for Security, the Secretary for Transport and Logistics, the Director of Home Affairs, the Director of Leisure and Cultural Services and the Commissioner for Tourism.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Unemployment and underemployment statistics for February – April 2025

    Source: Hong Kong Government special administrative region

    Unemployment and underemployment statistics for February – April 2025 
         Comparing February – April 2025 with January – March 2025, the unemployment rate (not seasonally adjusted) increased in many major economic sectors, with more distinct increases observed in the construction sector, accommodation services sector, food and beverage service activities sector, and financing sector. Meanwhile, declines in the unemployment rates were seen in the information and communications sector; insurance sector; and arts, entertainment and recreation sector. As to the underemployment rate, increases were mainly seen in the construction sector and cleaning and similar activities sector.
     
         Total employment decreased by around 15 600 from 3 692 700 in January – March 2025 to 3 677 100 in February – April 2025. Over the same period, the labour force also decreased by around 9 000 from 3 815 500 to 3 806 500.
     
         The number of unemployed persons (not seasonally adjusted) increased by around 6 600 from 122 800 in January – March 2025 to 129 400 in February – April 2025. Over the same period, the number of underemployed persons also increased by around 4 900 from 42 700 to 47 600.
      
    Commentary
     
    Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Chris Sun, said, “The seasonally adjusted unemployment rate increased by 0.2 percentage point from a low level in January – March 2025 to 3.4% in February – April 2025.  The underemployment rate went up to 1.3%.  The labour force and total employment decreased further to 3 806 500 and 3 677 100 respectively from the preceding three-month period.”
     
    Looking ahead, Mr Chris Sun said, “Various industries in Hong Kong are undergoing a transitional period, and the trends of their unemployment rates may go upward or downward.  However, the recent easing of trade tensions, the continued growth in the Mainland economy, the Government’s various measures to boost economic momentum and the continuous positive growth of the overall economy will provide support to the labour market.”
     
    Mr Chris Sun said, “Although we see some recent closures of shops, there have also been openings of many new shops.  As at end-2024, the number of companies registered in Hong Kong has reached a record high of 1.46 million, likely against emergence of new demands and new consumption trends.  The recent successful organisation of a series of mega events in Hong Kong, coupled with the concerted efforts of the Government in tandem with different industries including tourism, catering, hospitality and retail, has led to a significant increase in the number of inbound visitors, which will bring about more opportunities to the labour market.”
     
    Further information
     
         The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
     
         In the survey, the definitions used in measuring unemployment and underemployment follow closely those recommended by the International Labour Organization. The employed population covers all employers, self-employed persons, employees (including full-time, part-time, casual workers, etc.) and unpaid family workers. Unemployed persons by industry (or occupation) are classified according to their previous industry (or occupation).
     
         The survey for February – April 2025 covered a sample of some 26 000 households or 68 000 persons, selected in accordance with a scientifically designed sampling scheme to represent the population of Hong Kong. Labour force statistics compiled from this sample represented the situation in the moving three-month period of February to April 2025.
     
         Data on labour force characteristics were obtained from the survey by interviewing each member aged 15 or over in the sampled households.
     
         Statistical tables on the latest labour force statistics can be downloaded at the website of the C&SD (www.censtatd.gov.hk/en/scode200.html 
         For enquiries about labour force statistics, please contact the General Household Survey Section (3) of the C&SD (Tel: 2887 5508 or email:     ghs@censtatd.gov.hk 
    Issued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Euro area monthly balance of payments: March 2025

    Source: European Central Bank

    20 May 2025

    • Current account recorded €51 billion surplus in March 2025, up from €41 billion in previous month
    • Current account surplus amounted to €438 billion (2.9% of euro area GDP) in the 12 months to March 2025, up from €312 billion (2.1%) one year earlier
    • In financial account, euro area residents’ net acquisitions of non-euro area portfolio investment securities totalled €698 billion and non-residents’ net acquisitions of euro area portfolio investment securities totalled €782 billion in the 12 months to March 2025

    Chart 1

    Euro area current account balance

    (EUR billions unless otherwise indicated; working day and seasonally adjusted data)

    Source: ECB.

    The current account of the euro area recorded a surplus of €51 billion in March 2025, an increase of €10 billion from the previous month (Chart 1 and Table 1). Surpluses were recorded for goods (€44 billion), services (€13 billion) and primary income (€7 billion). These were partly offset by a deficit for secondary income (€13 billion).

    Table 1

    Current account of the euro area

    Source: ECB.

    Note: Discrepancies between totals and their components may be due to rounding.

    Data for the current account of the euro area

    In the 12 months to March 2025, the current account surplus widened to €438 billion (2.9% of euro area GDP), up from a surplus of €312 billion (2.1% of euro area GDP) one year earlier. This increase was driven by larger surpluses for goods (up from €324 billion to €386 billion), services (up from €133 billion to €173 billion) and primary income (up from €22 billion to €54 billion). The deficit for secondary income increased from €168 billion to €174 billion.

    Chart 2

    Selected items of the euro area financial account

    (EUR billions; 12-month cumulated data)

    Source: ECB.

    Notes: For assets, a positive (negative) number indicates net purchases (sales) of non-euro area instruments by euro area investors. For liabilities, a positive (negative) number indicates net sales (purchases) of euro area instruments by non-euro area investors.

    In direct investment, euro area residents made net investments of €110 billion in non-euro area assets in the 12 months to March 2025, following net disinvestments of €252 billion one year earlier (Chart 2 and Table 2). Non-residents disinvested €101 billion in net terms from euro area assets in the 12 months to March 2025, following net disinvestments of €321 billion one year earlier.

    In portfolio investment, euro area residents’ net purchases of non-euro area equity increased to €150 billion in the 12 months to March 2025, up from €91 billion one year earlier. Over the same period, net purchases of non-euro area debt securities by euro-area residents increased to €548 billion, up from €490 billion one year earlier. Non-residents’ net purchases of euro area equity increased to €408 billion in the 12 months to March 2025, up from €170 billion one year earlier. Over the same period, non-residents made net purchases of euro area debt securities amounting to €374 billion, declining from net purchases of €404 billion one year earlier.

    Table 2

    Financial account of the euro area

    (EUR billions unless otherwise indicated; transactions; non-working day and non-seasonally adjusted data)

    Source: ECB.

    Notes: Decreases in assets and liabilities are shown with a minus sign. Net financial derivatives are reported under assets. “MFIs” stands for monetary financial institutions. Discrepancies between totals and their components may be due to rounding.

    Data for the financial account of the euro area

    In other investment, euro area residents recorded net acquisitions of non-euro area assets amounting to €365 billion in the 12 months to March 2025 (up from €128 billion one year earlier), while they recorded net incurrences of liabilities of €77 billion (following net disposals of €144 billion one year earlier).

    Chart 3

    Monetary presentation of the balance of payments

    (EUR billions; 12-month cumulated data)

    Source: ECB.

    Notes: “MFI net external assets (enhanced)” incorporates an adjustment to the MFI net external assets (as reported in the consolidated MFI balance sheet items statistics) based on information on MFI long-term liabilities held by non-residents, available in b.o.p. statistics. B.o.p. transactions refer only to transactions of non-MFI residents of the euro area. Financial transactions are shown as liabilities net of assets. “Other” includes financial derivatives and statistical discrepancies.

    The monetary presentation of the balance of payments (Chart 3) shows that the net external assets (enhanced) of euro area MFIs increased by €405 billion in the 12 months to March 2025. This increase was driven by the current and capital accounts surplus and, to a lesser extent, by euro area non-MFIs’ net inflows in portfolio investment equity and debt. These developments were partly offset by euro area non-MFIs’ net outflows in direct investment and other flows.

    In March 2025 the Eurosystem’s stock of reserve assets increased to €1,511.0 billion up from €1,478.6 billion in the previous month (Table 3). This increase was mainly driven by positive price changes (€48.0 billion), due to an increase in the price of gold, and partly offset by negative exchange rate changes (€14.7 billion) and net sales of assets (€0.8 billion).

    Table 3

    Reserve assets of the euro area

    (EUR billions; amounts outstanding at the end of the period, flows during the period; non-working day and non-seasonally adjusted data)

    Source: ECB.

    Notes: “Other reserve assets” comprises currency and deposits, securities, financial derivatives (net) and other claims. Discrepancies between totals and their components may be due to rounding.

    Data for the reserve assets of the euro area

    Data revisions

    This press release incorporates revisions to the data for January 2025 and February 2025. These revisions did not significantly alter the figures previously published.

    MIL OSI Europe News –

  • MIL-OSI USA: PHOTOS: Smith and Pillen Host Rollins for Visit with Nebraska Producers, Announce USDA Farmers First Initiative

    Source: United States House of Representatives – Congressman Adrian Smith (R-NE)

    Washington, DC — Today Congressman Adrian Smith (R-NE) and Governor Jim Pillen hosted U.S. Department of Agriculture Secretary Brooke Rollins on a visit to Nebraska. The officials toured the Cargill Bioscience Complex in Blair, NE, the Wholestone Farms pork facility in Fremont, and Ohnoutka family farm in Valparaiso where they held a roundtable with local agriculture producers. Secretary Rollins announced the administration’s new Farmers First: Small Family Farms Policy Agenda to support family agriculture operations for a prosperous future.

    The officials released the following statements.

    “Welcoming Secretary Rollins to Nebraska alongside Governor Pillen provided a tremendous opportunity to showcase Nebraska’s world-leading livestock, crop, and biofuels producers. As we mark 163 years since the signing of the Homestead Act, agriculture remains the economic driver of our state and the nation’s Heartland. USDA’s new Farmers First strategy will expand markets, deliver regulatory relief, promote long-term certainty, and ensure the accessibility of USDA resources for American farming families working tirelessly to feed and fuel the world. I will continue to work with Secretary Rollins and President Trump to unleash prosperity for generations to come,” said Representative Smith. 

    “Nebraska is helping to lead the nation in agriculture! Great to meet with the farmers, ranchers, and producers from the Cornhusker State who are working to feed, fuel, and clothe the world. Under President Trump’s leadership, we are returning USDA to a Farmers First department, and that starts with giving farmers a seat at the table,” said Secretary Rollins. 

    “Our family-owned farms and ranches are at the heart of agriculture in America and are the backbone of the economy in states like Nebraska. Generations of producers have passed down the love of farming, strongly-rooted values, and common-sense stewardship of our land and water to the next generation. I’m glad that Secretary Rollins and the USDA are highlighting the value and importance of family owned and small operations as part of our efforts to put Farmers First. I look forward to this tremendous initiative, and I am thrilled that she chose to launch it from a family farm right here in Nebraska,” said Governor Pillen.

    MIL OSI USA News –

  • MIL-OSI Russia: Entrepreneurs will be able to rent space in the city’s first beauty coworking space

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    On May 30, as part of Moscow Entrepreneurship Week, the city’s first specialized beauty coworking space, Red Lab, will open. The innovative beauty space will provide new opportunities for nail technicians, makeup artists, hairdressers, stylists, and other beauty industry professionals.

    The area of over 470 square meters in the Otradnoye district will house modern work areas, equipped treatment rooms, training areas and a market with products from the best Moscow brands of the Made in Moscow project.

    “Beauty coworking is a place of opportunities for all participants in the beauty industry: masters perfecting their art, Moscow manufacturers setting new trends, and entrepreneurs finding growth points through collaborations. Here, the profession will become a business, and the business will become a recognizable brand. We are opening this coworking to support beauty specialists, give them tools for growth and take the Moscow beauty industry to a new level,” she noted.

    Kristina Kostroma, head of the capital’s Department of Entrepreneurship and Innovative Development.

    The beauty coworking space is located on the third floor of the Baikonur Meeting Place district center near the Otradnoye metro station at 17 Dekabristov Street. More than 50 workstations have been equipped there. They will be provided free of charge until the end of 2025. The new space can be used by companies and individual entrepreneurs of the capital whose business is related to the beauty industry, as well as the self-employed. You can read the detailed rental conditions and book a workstation on the portal “Small Business of Moscow”.

    At the grand opening of the beauty coworking, visitors will enjoy free master classes from leading industry experts, presentations of new cosmetics, prize draws and other events. The project partners will be the professional image laboratory “Persona” and the online beauty service “Avito Beauty”.

    Support for entrepreneurs is provided within the framework of the federal project “Small and medium entrepreneurship and support for individual entrepreneurial initiative”, which is part of the national project “Efficient and competitive economy”, as well as the Moscow Mayor’s strategy for supporting the capital’s entrepreneurship.

    State Budgetary Institution “Small Business of Moscow”, subordinate to the capital Department of Entrepreneurship and Innovative Development, helps people open and develop their own businesses in the capital. In business service centers, everyone can learn about financial and non-financial measures of state support.

    Free educational and business events are held for entrepreneurs: forums, seminars, trainings, conferences, which help improve professional competencies and find like-minded people.

    You can also get advice on opening and running a business and learn more about current measures to support entrepreneurs in Moscow on the portal MBM.Mos.ru and by phone: 7 495 225-14-14.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/154005073/

    MIL OSI Russia News –

  • MIL-Evening Report: RBA cuts interest rates, ready to respond again if the economy weakens further

    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

    Reserve Bank Governor Michele Bullock speaks at a forum during the World Bank/IMF meetings in Washington in April. Jose Luis Magana/AP

    The Reserve Bank of Australia cut the official interest rate for the second time this year, as it lowered forecasts for Australian economic growth and pointed to increasing uncertainty in the world economy.

    The bank lowered the cash rate target by 0.25%, from 4.1% to 3.85%, saying inflation is expected to remain in the target band.

    All the big four banks swiftly passed the cut on to households with mortgages. This will save a household with a $500,000 loan about $80 a month.

    Announcing the cut, the Reserve Bank stressed in its accompanying statement it stands ready to reduce rates again if the economic outlook deteriorates sharply.

    The Board considered a severe downside scenario and noted that monetary policy is well placed to respond decisively to international developments if they were to have material implications for activity and inflation in Australia.

    Inflation is back under control

    The latest Consumer Price Index showed that inflation remained around the middle of the Reserve Bank’s medium-term target band of 2-3% in the March quarter.

    The Reserve Bank was also comforted by the underlying inflation measure called the “trimmed mean”. This measure excludes items with the largest price movements up or down.

    The bank noted that it has returned to the 2–3% target band for the first time since 2021. This suggests inflation is not just temporarily low due to temporary factors such as the electricity price rebates.



    Read more:
    Inflation is easing, boosting the case for another interest rate cut in May

    In February, Reserve Bank Governor Michele Bullock conceded the bank had arguably been “late raising interest rates on the way up”. It did not want to be late on the way down.

    Perhaps Bullock is being unduly modest. The central bank looks to have judged well the extent of monetary tightening. It did not raise interest rates as much as its peers, but still got inflation back to the target.

    Unemployment remains low

    Last week, we got an update on the strength of the labour market. Unemployment stayed at 4.1%. It has now been around 4% since late 2023, a remarkable achievement.

    This is below the 4.5% the Reserve Bank had regarded as the level consistent with steady inflation (in economic jargon, the NAIRU). But neither prices nor wages have accelerated.

    Households and businesses may turn cautious

    In its updated forecasts, the bank sees headline inflation dropping to 2.1% by mid-year but going back to 3.0% by the end of the year, as the electricity subsidies are removed. By mid-2027, it will be back near the middle of the 2-3% target.

    Underlying inflation is forecast to stay around the middle of the target band throughout.

    The Reserve Bank cut its forecast for gross domestic product (GDP) to 2.1% by December, down from its previous forecast of 2.4% made in February. It said:

    Economic policy uncertainty has increased sharply alongside recent global developments, and this is expected to prompt some households to increase their precautionary savings and some businesses to postpone some investment decisions.

    The unemployment rate is expected to increase to 4.3% by the end of the year and remain there through 2026.

    Cost of living pressures look set to ease, as real household disposable income grows faster than population.

    As the Reserve Bank governor told a media conference on Tuesday:

    There’s now a new set of challenges facing the economy, but with inflation declining and the unemployment rate relatively low, we’re well positioned to deal with them. The board remains prepared to take further action if that is required.

    Economic and policy ‘unpredictability’

    The main uncertainty in the global economy is how the trade war instigated by US President Donald Trump will play out. According to one count, he has announced new or revised tariff policies about 50 times.

    “The outlook for the global economy has deteriorated since the February statement. This is due to the adverse impact on global growth from higher tariffs and widespread economic and policy unpredictability,” the bank noted.

    The US tariff pauses on the highest rates on China and most other nations are due to be in place for 90 days. But more measures may be announced before then.

    This uncertainty is likely to be stifling trade, and even more so investment decisions by companies in the face of rapidly changing policies. And it will weaken the global economy.

    In her press conference, Bullock said the board’s judgement was that “global trade developments will overall be disinflationary for Australia”. Not only is the global outlook weaker, but some goods no longer being sold to the US could be diverted to Australia.

    Where will interest rates go from here?

    The Reserve Bank’s updated forecasts assume interest rates will fall further, to 3.4% by the end of the year.

    But this is just a reflection of what financial markets are implying. It is not necessarily what the bank itself expects to do. It is certainty not a promise of what they will do.

    But the Reserve Bank still regards its stance as “restrictive”, or weighing on growth. So if it continues to believe inflation will stay within the target band, or the global outlook deteriorates, it will cut rates further.

    The Conversation

    John Hawkins was formerly a senior economist with the Reserve Bank.

    – ref. RBA cuts interest rates, ready to respond again if the economy weakens further – https://theconversation.com/rba-cuts-interest-rates-ready-to-respond-again-if-the-economy-weakens-further-256798

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Victorian budget has cash to splash on health, transport but new levies, job cuts, rising debt signal pain ahead

    Source: The Conversation (Au and NZ) – By David Hayward, Emeritus Professor of Public Policy, RMIT University

    There was not a lot of cheer in the media reporting ahead of the 2025/6 Victorian budget released on Wednesday. Debt and deficits dominated the coverage.

    All eyes turned to new treasurer, Jaclyn Symes, to see if in her first budget the Labor government was finally delivering some financial discipline.

    That theme flowed into the press conference during the budget lockup, when journalists got to grill the treasurer about the budget papers. Symes copped a pasting. Journalists were clearly unhappy with what they had read and more unhappy about what they heard.

    Yes, the operating side of the budget is projected to be back to a wafer thin A$600 million surplus. But that is almost $1 billion less than was promised when Symes delivered a budget update last December.

    And all that infrastructure is to paid for by more borrowings, taking net debt to $167 billion, $10 billion more than it was last year.

    And that was despite the government benefiting from a whopping $3.5 billion in GST grants from the Commonwealth, over $1 billion more than the previous year.

    And it was despite a new fire and emergency services levy that is set to deliver an extra $600 million.

    And it was also despite a 22% increase in fees and fines, and a $1.3 billion rise in unspecified government charges. And it is also based on banking $500 million of savings from an efficiency review led by former head of Premier and Cabinet Helen Silver, which won’t be finished until July at the earliest.

    So where did that extra money go? Well, it paid for more than $6 billion of new services ($3 billion net of savings), and an extra $1.6 billion for new infrastructure, across all portfolios. This includes free public transport for seniors on weekends and free public transport for kids.

    The big ticket item was health, which got an extra $2.5 billion. That came as a surprise given health copped a $1.5 billion cut in last year’s budget, after the government claimed the hospitals were still spending at pandemic levels and needed to rediscover efficiency.

    That cut did not last long. Health services workers staged a short but effective campaign that forced the then new premier, Jacinta Allan, to buckle. The money was returned in December’s budget update.

    The budget papers show the Victorian economy has been performing strongly post pandemic, with Victoria leading the nation in employment growth. The budget papers tip that strong performance will continue, despite the continued warnings that all that government debt will eventually force the economy to buckle.

    The government argues rather than be criticised it should be applauded for a job well done.

    It spent up big on infrastructure during the pandemic, which has delivered to the state remarkably strong economic performance. It also spent up big to protect Victorians from COVID.

    It has a budget recovery plan and everything is on schedule. First employment had to grow, then we needed a cash surplus and now we have an operating surplus to add to it. Net debt in real terms will start to fall next year as the last step in a long-term plan.

    It also points to the state’s balance sheet to highlight it has something to show for all that debt in the form of $437 billion in assets.

    Victoria is not alone in running budget operating deficits during the pandemic. NSW and Queensland make happy bedfellows, but they are not as eye-catching because their levels of debt are much lower.

    Victoria is also not alone as a state or provincial government that has a lot of debt. The Canadian provinces are also in that situation, with Quebec and Ontario leading the pack.

    Then there are the German state governments. Their problem is not too much debt, but far too little, leaving them to grapple with not enough as well as crumbling infrastructure caused by a constitutional debt brake that is responsible for the mess, and which has recently been lifted.

    Treasurer Symes delivered a budget that has disappointed those who wanted to see debt fall and for the government to at long last show some fiscal discipline. With the economy still doing quite nicely, and so many new announcements to glow in, Treasurer Symes will be quite happy to disappoint.

    The political calculation here is simple: Victorians want services and aren’t worried if it is paid for by debt.

    Whether that remains the case at next year’s state election due in November is another question. For this will have been Syme’s last real chance to have been more prudent, and just at that moment when the economy could have afforded it.

    The Conversation

    David Hayward chairs the Strategic Advisory Committee for Fire Rescue Victoria.

    – ref. Victorian budget has cash to splash on health, transport but new levies, job cuts, rising debt signal pain ahead – https://theconversation.com/victorian-budget-has-cash-to-splash-on-health-transport-but-new-levies-job-cuts-rising-debt-signal-pain-ahead-257013

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Temenos launches Gen AI Copilot for banks to deliver better products faster

    Source: GlobeNewswire (MIL-OSI)

    MADRID, Spain, May 20, 2025 (GLOBE NEWSWIRE) — At the Temenos Community Forum ’25 in Madrid, Temenos (SIX: TEMN), a global leader in banking technology, today launched the Temenos Product Manager Copilot, empowering banks to design, launch, test and optimize financial products faster using Generative AI.

    Temenos Product Manager Copilot is a Gen AI assistant that integrates Microsoft Azure OpenAI Service and is embedded within the Temenos Retail core banking solution. It provides a simple, conversational way for product, IT and Customer Service managers to explore the full breadth of Temenos’ core banking functionality and data insights, helping banks design and launch retail products faster, easier, and make them more relevant to their customers.

    Temenos Product Manager Copilot is offered as part of Temenos retail accounts advanced and enterprise product offerings.

    Temenos core banking solutions are trusted by over 950 banks worldwide, from large multinational institutions to smaller regional banks. Temenos core banking offers extensive out-of-the-box functionality and a comprehensive suite of pre-configured products.

    With Temenos Product Manager Copilot, product managers can leverage either the built-in user agents or interact through familiar channels like Microsoft Teams for building, testing and launching new products. This Gen AI tool also allows them to quickly gain business insights without having to write complicated queries from their core banking data and drive strategic decisions.  

    Integrating Azure OpenAI Service enables Temenos Product Manager Copilot to surface insights from the bank’s core data, documentation and regulatory landscape. The solution is flexible by design to allow easy integrations with new AI agents based on bank-specific data sources, as well as existing AI agents already in use. In addition, Azure OpenAI Service provides enterprise-class availability, scaling, security and confidentiality for customer data.

    According to a recent study for Temenos, three quarters (75%) of banks are exploring Gen AI deployment with 36% having already deployed or in the process of deploying it. Additionally, 73% believe that agentic AI will be transformative for the banking industry.

    Barb Morgan, Chief Product and Technology Officer, Temenos, commented: “Temenos Product Manager Copilot unlocks the full innovation potential of Temenos core banking using Generative AI to help banks deliver better products faster to their customers. We are excited to bring this game-changing technology to financial institutions globally. In an era where fintechs and neobanks can launch new offerings within weeks, it is critical for banks to accelerate innovation or risk losing relevance in an increasingly competitive landscape.” 

    Temenos has a strong customer-focused approach and developed Temenos Product Manager Copilot in collaboration with its Design Partner clients, including Banque Internationale à Luxembourg.

    Christine Huberty, Deputy CIO, Banque Internationale à Luxembourg, said: “We’re excited about the new capabilities of Temenos Product Manager Copilot. The conversational interface will make it easier to access core banking functionality and data, helping bank staff work more efficiently and launch products faster to market. We value our ongoing collaboration with Temenos and the opportunity to contribute to this innovation.”

    Clare Barclay, Corporate Vice President, Enterprise, Industry and Software Development Partners, Microsoft, added: “Azure OpenAI integration enables trusted, enterprise-grade AI experiences across industries. Through our collaboration with Temenos, banks can now harness the power of generative AI to accelerate product innovation, enhance customer engagement, and operate with greater agility and intelligence.”

    General Availability for Temenos Product Manager Copilot is scheduled for Q4 2025. Financial institutions can register interest for early access via the Temenos Contact Us page.

    The MIL Network –

  • MIL-OSI China: Xi calls for stronger manufacturing industry to advance Chinese modernization 2025-05-20 15:12:47 Xi Jinping, general secretary of the Communist Party of China Central Committee, has called for continuous efforts to build the manufacturing industry stronger to advance Chinese modernization.

    Source: People’s Republic of China – Ministry of National Defense

      ZHENGZHOU, May 20 (Xinhua) — Xi Jinping, general secretary of the Communist Party of China Central Committee, has called for continuous efforts to build the manufacturing industry stronger to advance Chinese modernization.

      Xi made the remarks during his inspection tour in a bearing producer in Luoyang City, central China’s Henan Province, on Monday afternoon.

      Xi visited the company’s intelligent manufacturing plant to learn about the performance and applications of various types of bearing products. He inspected the intelligent production lines and had an amiable conversation with the workers.

      “China has always adhered to the path of developing the real economy. From the past reliance on imported matches, soap and iron, to now becoming the world’s largest manufacturing country with the most complete industrial categories, we have taken the right path,” Xi noted.

      China must continue to strengthen the manufacturing sector, adhere to the principles of building self-reliance and strength, and master core technologies in key fields, Xi said.

      He also urged efforts to strengthen collaboration between industries, universities and research institutes, and cultivate a large number of high-quality talents.

      The producer, Luoyang Bearing Group Co., Ltd., is a traditional manufacturing firm that has invested heavily in scientific and technological research and made significant progress in industrial upgrading in recent years. Its wind turbine main bearings now hold over 40 percent of the domestic market share.

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    MIL OSI China News –

  • MIL-OSI: Municipality Finance issues a USD 100 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    20 May 2025 at 10:00 am (EEST)

    Municipality Finance issues a USD 100 million tap under its MTN programme

    On 21 May 2025 Municipality Finance Plc issues a new tranche in an amount of USD 100 million to an existing benchmark issued on 22 January 2025. With the new tranche, the aggregate nominal amount of the benchmark is USD 500 million. The maturity date of the benchmark is 2 February 2029. The benchmark bears interest at a floating rate equal to Compounded SOFR plus 100 bps per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the benchmark are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the benchmark to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 21 May 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    Bank of Montreal Europe PLC act as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.

    MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: www.munifin.fi

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction 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, any securities or other financial instruments 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.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Falcon Oil & Gas Ltd. – Filing of Interim Financial Statements

    Source: GlobeNewswire (MIL-OSI)

    FALCON OIL & GAS LTD.

    (“Falcon”)

    Filing of Interim Financial Statements

    20 May 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has filed its interim financial statements for the three months ended 31 March 2025 and the accompanying Management’s Discussion and Analysis (“MD&A”).

    The following should be read in conjunction with the complete unaudited unreviewed interim financial statements and the accompanying MD&A for the three months ended 31 March 2025, which are available on the Canadian System for Electronic Document Analysis and Retrieval (“SEDAR+”) at www.sedarplus.ca and on Falcon’s website at www.falconoilandgas.com.

    Q1 2025 Financial Highlights

    • Debt free with cash of $6.9 million at 31 March 2025 (31 December 2024: $6.8 million).
    • Continued focus on strict cost management and efficient operation of the portfolio.

    Ends.

    For further information, please contact:

    CONTACT DETAILS:

    Falcon Oil & Gas Ltd.          +353 1 676 8702
    Philip O’Quigley, CEO +353 87 814 7042
    Anne Flynn, CFO +353 1 676 9162
     
    Cavendish Capital Markets Limited (NOMAD & Broker)
    Neil McDonald / Adam Rae +44 131 220 9771
       

    Falcon Oil & Gas Ltd.
    Interim Condensed Consolidated Statement of Operations and Comprehensive Loss
    (Unaudited)

          Three months ended
    31 March 2025
    $’000    		 Three months ended
    31 March 2024
    $’000    		    
                 
    Revenue            
    Oil and natural gas revenue     – –    
          – –    
                 
    Expenses            
    Exploration and evaluation expenses     (40) (44)    
    General and administrative expenses     (491) (528)    
    Foreign exchange gain     77 120    
          (454) (452)    
                 
    Results from operating activities     (454) (452)    
                 
    Finance income     98 8    
    Finance expense     (141) (362)    
    Net finance expense     (43) (354)    
                 
    Loss and comprehensive loss for the period     (497) (806)    
                 
    Loss and comprehensive loss attributable to:            
                 
    Equity holders of the company     (497) (804)    
    Non-controlling interests     – (2)    
                 
    Loss and comprehensive loss for the period     (497) (806)    
                 
             
    Loss per share attributable to equity holders of the company:        
                 
    Basic and diluted     ($0.000) ($0.001)    

    Falcon Oil & Gas Ltd.
    Interim Condensed Consolidated Statement of Financial Position
    (Unaudited)

        At 31 March
    2025
    $’000    		 At 31 December
    2024
    $’000
           
    Assets      
    Non-current assets      
    Exploration and evaluation assets   53,347 50,291
    Accounts receivable   56 56
    Restricted cash   2,123 2,040
        55,526 52,387
           
    Current assets      
    Cash and cash equivalents   6,896 6,823
    Accounts receivable   139 3,031
        7,035 9,854
           
    Total assets   62,561 62,241
           
    Equity and liabilities      
           
    Equity attributable to owners of the parent      
    Share capital   406,684 406,684
    Contributed surplus   47,446 47,446
    Deficit   (410,652) (410,155)
        43,478 43,975
    Non-controlling interests   690 690
    Total equity   44,168 44,665
           
    Liabilities       
    Non-current liabilities      
    Decommissioning provision   16,751 16,587
        16,751 16,587
           
    Current liabilities      
    Accounts payable and accrued expenses   1,642 989
        1,642 989
           
    Total liabilities   18,393 17,576
           
    Total equity and liabilities   62,561 62,241

    Falcon Oil & Gas Ltd.
    Interim Condensed Consolidated Statement of Cash Flows
    (Unaudited)

        Three months ended 31 March
        2025
    $’000    		 2024
    $’000
           
    Cash flows from operating activities      
    Net loss for the period   (497) (806)
    Adjustments for:      
    Share based compensation   – 36
    Depreciation   – 1
    Net finance expense   43 354
    Effect of exchange rates on operating activities   (77) (120)
    Change in non-cash working capital:      
    Increase in accounts receivable   (110) (83)
    Increase in accounts payable and accrued expenses   19 7
    Net cash used in operating activities   (622) (611)
           
    Cash flows from investing activities      
    Interest received   8 8
    Exploration and evaluation assets   (2,384) (2,869)
    Legacy exploration permit bonds refund   19 –
    R&D Tax incentive refund   2,962 –
    Net cash generated by / (used in) investing activities   605 (2,861)
           
    Change in cash and cash equivalents   (17) (3,472)
    Effect of exchange rates on cash and cash equivalents   90 (231)
           
    Cash and cash equivalents at beginning of period   6,823 7,992
           
    Cash and cash equivalents at end of period   6,896 4,289

    All dollar amounts in this document are in United States dollars “$”, except as otherwise indicated.

    About Falcon Oil & Gas Ltd.

    Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

    For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com

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

    Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.ca.

    Attachment

    The MIL Network –

  • MIL-OSI: Societe Generale launches a new global employee share ownership programme

    Source: GlobeNewswire (MIL-OSI)

    SOCIETE GENERALE LAUNCHES A NEW GLOBAL EMPLOYEE SHARE OWNERSHIP PROGRAMME

    Press release

    Paris, 20 May 2025

    Societe Generale confirms the launch of a new global employee share ownership programme allowing eligible employees and retired former employees of the Group to subscribe for a capital increase reserved for them on preferential terms. The subscription period for the share offer will take place from 2 to 16 June (inclusive).

    The settlement-delivery of the shares should take place on 24 July 2025.

    The terms of this transaction are described in the information document provided below.

    This transaction implements the 27th resolution of the General Meeting held on 22 May 2024. The principle of this operation, approved by the Board of Directors on 5 February 2025, was made public in page 15 of the Board of Directors’ report on the resolutions submitted to the General Meeting of 20 May 2025 and, before that, in the table of financial authorisations provided in section 3.1.7 of the Universal Registration Document dated 12 March 2025 which has been updated, on pages 58 to 59 of the Convening Brochure, relating to the General Meeting of 20 May 2025, which was published on 14 April 2025.

    Employee share ownership is a long-term collective commitment mechanism regularly implemented within Societe Generale to involve employees in the development of the company and to enable them to benefit from long-term value creation.

    The 2025 programme is the 32nd offered by the Group.

    Press contacts:
    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    20 May 2025

    INFORMATION DOCUMENT

    PROVIDED FOR EMPLOYEES AND RETIRED FORMER EMPLOYEES
    OF THE SOCIETE GENERALE GROUP
    PERTAINING TO A CAPITAL INCREASE IN CASH TARGETING A MAXIMUM OF 12,044,800 SHARES RESERVED FOR ELIGIBLE EMPLOYEES AND RETIRED FORMER EMPLOYEES PARTICIPATING IN SOCIETE GENERALE GROUP COMPANY
    OR GROUP SAVINGS PLANS

    2025 GROUP EMPLOYEE SHARE OWNERSHIP PROGRAMME (2025 GESOP)

    This information document is available at Societe Generale’s administrative office (17 cours Valmy – 92972 Paris-La Défense Cedex), on its website and its intranet site, and was covered by a press release dated 20 May 2025.

    This document is prepared in accordance with the prospectus publication exemptions provided for in Article 1.4°(i) and Article 1.5°(h) of Prospectus Regulation (EU) No. 2017/1129. It constitutes the document required to meet the conditions for exemption from publication of a prospectus as defined by said Prospectus Regulation, directly applicable in the domestic law of each Member State of the European Union.

    MAIN CHARACTERISTICS OF THE CAPITAL INCREASE IN CASH RESERVED FOR ELIGIBLE EMPLOYEES AND RETIRED FORMER EMPLOYEES PARTICIPATING IN SOCIETE GENERALE GROUP COMPANY OR GROUP SAVINGS PLANS

    ISSUER Societe Generale,

    French public limited company (société anonyme),

    Share capital: EUR 1,000,395,971.25

    Registered office: 29, boulevard Haussmann – 75009 PARIS

    Paris Trade and Companies Register No. 552 120 222

    Euronext Paris – Compartment A

    Ordinary share ISIN code: FR0000130809

    Share admitted to Deferred Settlement Service
    Securities offered The maximum overall nominal amount of the capital increase is set at EUR 15,056,000, corresponding to the issue of 12,044,800 shares available for subscription in cash.

    The capital increase is sub-divided into two (2) tranches using separate investment vehicles, respectively accessible to separate entities or groups of entities.

    The Societe Generale shares to be issued will be of the same class and will be equivalent to Societe Generale shares already admitted to trading on Euronext Paris (Compartment A).
    Reasons for the offer The 2025 Group Employee Share Ownership Programme falls within the scope of the Societe Generale Group employee share ownership policy, both in France and internationally, allowing beneficiaries to become involved in the Group’s operations by participating, through this investment, in the development of Societe Generale, by expressing their voting rights and participating in the General Meeting.
    Terms of subscription The shares will be available for subscription through employee mutual fund (“FCPE”) in France and directly via the acquisition of registered shares outside France.

    Method for determining the subscription price

    The subscription price of EUR 35.76 is equal to the arithmetic average of the 20 (twenty) volume-weighted average prices recorded each day on the Euronext Paris regulated stock market at the end of each of the 20 (twenty) trading sessions preceding the morning of 19 May 2025 (date of the decision of the Chief Executive Officer, setting the subscription period and the subscription price and acting on the sub-delegation of the Board of Directors at its meeting of 5 February 2025 using the authorization granted to the Board by the twenty-seven resolution of the Combined General Meeting of 22 May 2024), with the application of a 20% discount.

    Duration of subscription period

    The subscription period will begin on Monday 2nd June 2025 at 10:00 a.m. (Paris time) and will end on Monday 16th June 2025 at 11:59 p.m. (Paris time).
      Terms of subscription for shares

    The first (1st) tranche is subscribed through the Employee Mutual Funds under Company or Group Savings Plans. The second (2nd) tranche is directly subscribed by employees under the International Group Savings Plan.

    Beneficiaries of the offer

    This offer is reserved for employees with seniority of at least three (3) months, holding an employment contract in effect at the end of the subscription period, broken down as follows:

    • for the 1st tranche, the beneficiaries of the Societe Generale Company Savings Plan and the Group Savings Plan;
    • for the 2nd tranche, the beneficiaries of the International Group Savings Plan.
      As regards the first tranche, former employees having left their company after retiring, with this category including pre-retirees, and having retained assets in the Company or Group Savings Plans, may also take part in this reserved capital increase.
      Subscription limit

    In accordance with Article L. 3332-10 of the French Labour Code, the total amount of payments made by Beneficiaries (including payments into other Savings Plans) may not exceed 25% of their gross annual remuneration received during the year of subscription or, for Beneficiaries whose employment contract is suspended and who received no remuneration for the year of subscription, 25% of the annual limit provided for in Article L. 241-3 of the French Social Security Code. At its meeting of 5 February 2025, the Board of Directors decided that the total amount of a given Beneficiary’s individual subscription (which may consist of a voluntary payment, including the transfer of available assets, as well as the net amounts of profit-sharing and employer matching contribution (not applicable to retirees)) may not exceed EUR 20,000.

    Employer matching contribution

    Employer matching contribution rules are specific to each Company or Group Savings Plan and each participating entity.
    Transaction timetable Subscription will be open from Monday 2nd June 2025 at 10:00 a.m. (Paris time) to Monday 16th June 2025 at 11:59 p.m. (Paris time). The capital increase is scheduled for 24 July 2025.
    Listing of new shares Listing market

    Societe Generale shares are listed on Euronext Paris (deferred settlement service, continuous trading group A, ISIN code FR0000130809).
      Listing of new shares

    The listing of the new shares on Euronext Paris will be requested immediately after the completion of the capital increase (the listing should be effective on or around 29 July 2025).
    General information on new shares subject to a request for admission to trading Rights attached to shares issued

    As soon as they are created, the new shares will be subject to all the provisions of the Issuer’s Articles of Association and will bear dividends rights as of 1 January 2025. As a result, they will be fully assimilated with the existing shares and will entitle the shareholders of a public limited company to the associated legal prerogatives. In particular, they will entitle shareholders to ownership of the company’s assets and the liquidation surplus, in a proportion equal to the percentage of share capital they represent. Similarly, the dividend is distributed to shareholders in proportion to their shareholding.

    A double voting right, in proportion to the capital represented, is allocated to all fully paid-up shares registered in the name of the same shareholder, for at least two years, as well as to new registered shares granted free of charge to a shareholder, in the event of a capital increase through the incorporation of reserves, profits or issue premiums, in respect of shares entitled thereto.

    In accordance with Article L. 214-165 II, paragraph 3, of the French Monetary and Financial Code, the voting rights attached to Societe Generale shares subscribed via the FCPE will be exclusively exercised individually by the unitholders of said FCPE and, for fractional units, by the supervisory board of said FCPE.

    In the event of a public purchase or exchange offer, the supervisory board of the FCPE decide, based on the relative majority of the votes cast, whether or not to tender Societe Generale shares to the offer. If there is no relative majority, the decision is put to the vote of the unitholders, who decide based on the relative majority of the votes cast.

    Marketability of shares

    No clauses in the Articles of Association limit the free marketability of the shares comprising Societe Generale’s capital.

    Only the rules below governing the unavailability of shares under a Company or Group Savings Plan will limit the marketability of said shares.
    Unavailability Shares held directly by the Beneficiaries and units of the employee mutual fund, as applicable, will be unavailable for a period of 5 years, barring cases of early release subject to the conditions applicable to the Company or Group Savings Plan in question. As regards the 2nd tranche, in some countries, depending on local legislation, some cases of early release will not be open to employees.
    Specific disclaimer for international subscriptions This document constitutes neither an offer to sell nor a solicitation to subscribe for Societe Generale shares. The Societe Generale share offer reserved for eligible current employees and retired former employees participating in Societe Generale Group Company or Group Savings Plans will only be implemented in countries where such an offer has been registered with the relevant local authorities and/or with the approval of a prospectus by the competent local authorities, or in consideration of an exemption from the obligation to establish a prospectus or register the offer. More generally, the offer will only be made in countries where all required registration procedures and/or notifications have been made and the proper authorisations obtained, except for the exemptions mentioned above. This document is not intended for countries in which such a prospectus would not have been approved or such an exemption would not be available, or in which all required registration and/or notification procedures have not yet been made or the proper authorisations obtained, and copies of this document should not be sent in such countries.

    With respect to the United States of America in particular, the shares referred to in this document have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”) and may not be offered or sold in the United States without registration or exemption from registration in accordance with the Securities Act. Societe Generale does not intend to register the offer, in part or in whole, in the United States, or to make public share offers in the United States. The shares will be offered only for transactions benefiting from an exemption from registration.

    Due to the sanctions imposed by the European Union, this offer is not open to citizens or residents of Russia who do not have a residence permit in or are not nationals of a European Union country, of a country member of the European Economic Area or of Switzerland, or to citizens or residents or Belarus who do not have a residence permit in or are not nationals of a European Union country. 
       
    Employee contact Beneficiaries may address any questions relating to this offer to the contact indicated in the subscription application provided to them.

    Societe Generale

    Societe Generale is a top tier European Bank with around 119,000 employees serving more than 26 million clients in 62 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

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    The MIL Network –

  • MIL-OSI: Best Crypto Casinos: Rated Top 5 Bitcoin Online Casinos For Crypto Gambling – By NextCasinos

    Source: GlobeNewswire (MIL-OSI)

    PHILADELPHIA, May 20, 2025 (GLOBE NEWSWIRE) — NextCasinos, a trusted name in impartial casino evaluations, proudly presents its definitive guide to the best crypto casinos for 2025, available here.

    “The rise of crypto gambling has reshaped the online casino landscape, yet not all platforms meet high standards,” noted a NextCasinos representative. “Our expertly crafted guide highlights the top crypto casinos offering swift transactions, diverse gaming options, and rewarding promotions for a safe and exciting experience.”

    Following a thorough analysis of numerous crypto-accepting casino platforms, our team identified five best crypto casinos—JACKBIT, 7Bit Casino, KatsuBet, MIRAX Casino, and BitStarz—for their outstanding performance in withdrawal speed, game selection, bonus generosity, accessibility, and customer service.

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    ✅JOIN NOW AND CLAIM 325% UP TO 5.25 BTC + 250 FREE SPINS!

    Overview: 7Bit Casino is a trusted crypto casino renowned for its substantial cryptocurrency rewards.
    Why It Excels: Offering 6,800+ games, from slots to live dealers, 7Bit Casino is the best Bitcoin casino with fast payouts and a 325% bonus up to 5.25 BTC plus 250 free spins. Its robust loyalty program enhances player retention, making it a top crypto casino.

    Bonuses & Promotions
    Welcome offer: 325% up to 5.25 BTC + 250 free spins across four deposits:

    • 1st deposit: 100% + 100 free spins
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    Other Promotions

    • Pre-Release Offer: 35 free spins
    • New Game Offer: 45 free spins
    • Weekly Cashback: Up to 20%
    • Monday Offer: 25% + 50 FS
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    • Weekend Offer: 50% match
    • Telegram Offer: 50 free spins
    • Telegram Friday Offer: 111 free spins
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    Tournaments

    • Royal Tables
    • Legends League
    • Lucky Spin
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    3. KatsuBet: Best Crypto Casino For Jackpot Enthusiasts

    ✅CLICK TO JOIN KATSUBET AND START WITH A 325% BONUS + 200 FREE SPINS!

    • Overview: KatsuBet, launched in 2022, specializes in high-stakes jackpot games for thrill-seekers.
    • Why It Excels: Featuring 7,300+ games, KatsuBet’s 325% bonus up to 5 BTC with 200 free spins attracts jackpot hunters. Its VIP rewards make it the best crypto casino for long-term players seeking top crypto casinos.

    Bonuses & Promotions
    Welcome package: 325% up to 5 BTC + 200 free spins across four deposits:

    • 1st deposit: 100% up to 1.5 BTC + 100 free spins
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    • 4th deposit: 100% up to 1 BTC

    Other Promotions

    • High Roller Bonus: 50% up to 0.036 BTC
    • BTC-Exclusive: 75 free spins
    • Pre-release: Claim 35 free spins
    • New game: Claim 45 free spins
    • 25% Monday Reload Bonus: Get up to 0.006 BTC + 50 free spins
    • Wednesday Free Spins: Up to 100 free spins
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    • Weekend Bonus: 35 free spins
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    4. MIRAX Casino: Leading New Crypto Casino with Generous Free Spins

    ✅CLAIM YOUR 325% BONUS + 150 FREE SPINS AT MIRAX CASINO TODAY!

    • Overview: MIRAX Casino, a new crypto casino, offers an approachable platform perfect for beginners and seasoned players alike.
    • Why It Excels: With 7,200+ games and demo modes, this new crypto casino ensures accessibility for all skill levels. Its 325% bonus up to 5 BTC with 150 free spins, combined with rapid transactions and 24/7 support, makes MIRAX a standout new crypto casino for crypto gambling site enthusiasts.

    Bonuses & Promotions
    Welcome package: 325% bonus up to 5 BTC plus 150 free spins across four deposits:

    • 1st deposit: 100% up to 1.5 BTC + 100 free spins
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    • 3rd deposit: 50% up to 1.25 BTC
    • 4th deposit: 100% up to 1 BTC

    Other Promotions

    • New Game Bonus: Get 45 free spins
    • BTC Exclusive Bonus: Get 75 free spins
    • Monday Reload Bonus: Get 0.006 BTC + 50 free spins
    • Wednesday Reload Bonus: Get up to 100 free spins
    • Thursday Lootbox Bonus: Get up to 100 free spins
    • Weekend Free Spins: Get 33 free spins
    • Highroller Cashback: Up to 20%

    Tournaments

    • Paris Bloom Tournament
    • Weekly Tour de Chance
    • Weekend Festival

    5. BitStarz: Top Crypto Casino For Extensive Game Selection

    ✅CLICK HERE TO JOIN AND CHOOSE YOUR BONUS – $500 OR 5 BTC!

    Overview: BitStarz, an acclaimed best crypto casino, offers a vast gaming portfolio for diverse preferences.
    Why It Excels: With 6,500+ games and support for over 500 cryptocurrencies, BitStarz is the best crypto casino for variety. It’s a $500 or 5 BTC bonus with 180 free spins, quick withdrawals, and dynamic tournaments that solidify its status as a top Bitcoin casino.

    Bonuses & Promotions
    Welcome bonus: 300% up to $500 or 5 BTC + 180 free spins over four deposits:

    • 1st deposit: 100% up to 1 BTC + 180 free spins
    • 2nd deposit: 50% up to 1 BTC
    • 3rd deposit: 50% up to 2 BTC
    • 4th deposit: 100% up to $100 or 1 BTC

    Other Promotions

    • Monday Reload: 50% up to $300
    • Wednesday Spins: Up to 200 free spins

    Tournaments

    • Slot and table game tournaments
    • Originals Tournament: Prize pool of $5,000
    • Jackpotz Mania
    • Piggyz Mania
    • Bonuz Mania

    How We Ranked The Best Crypto Casinos

    Our selection of the top crypto casinos followed a rigorous, player-centric methodology to ensure reliability.

    • Comprehensive Analysis: We examined dozens of global crypto-accepting casino platforms for consistency. Each site was tested for performance across key metrics like security and usability. This thorough approach guaranteed that only top crypto casinos made our list.
    • Criteria Evaluation: We assessed game variety, bonus terms, payout speeds, and security protocols. Fairness in promotions and robust encryption were non-negotiable for trusted crypto casinos. These factors ensure players enjoy a seamless and safe experience.
    • User Feedback: Player reviews from platforms like Trustpilot shaped our rankings significantly. Authentic user experiences highlighted the strengths and weaknesses of crypto gambling sites. This input helped us prioritize platforms with strong reputations.
    • Transparency Check: We verified clear disclosure of terms, fees, and wagering requirements. Transparent policies build trust in top Bitcoin casinos. Only platforms with honest practices earned our endorsement.
    • Platform Usability: We tested desktop and mobile interfaces for intuitive navigation. Responsive design and fast load times are critical for the best BTC casinos. User-friendly platforms enhance overall satisfaction and accessibility.

    Responsible Gambling Tips

    Playing at the best Bitcoin casinos is entertaining but requires caution to prevent harm.

    • Budget Wisely: Only gamble with funds you can afford to lose, treating it as entertainment. Set a clear financial limit before playing to avoid overspending. This approach keeps gaming enjoyable without financial strain.
    • Understand Games: Learn the rules and odds of each game for informed decisions. Knowledge reduces risky bets and enhances your experience. Familiarity with game mechanics boosts confidence and control.
    • Take Breaks: Step away regularly to maintain a clear perspective. Short pauses prevent impulsive decisions during long sessions. Breaks help you stay refreshed and in charge of your gameplay.
    • Refrain from Pursuing Losses: Acknowledge losses as a natural aspect of gaming and move on. Staying disciplined preserves your enjoyment and financial health.
    • Use Casino Tools: Leverage deposit limits or self-exclusion options offered by casinos. These features help you manage spending and gaming time effectively. They promote responsible play and prevent harm.
    • Seek Support: Reach out to organizations like GamCare if gambling feels overwhelming. Professional help can provide guidance and coping strategies. Early intervention ensures a healthier relationship with gaming.

    Why These Rankings Matter

    Selecting the best crypto casinos enhances your gaming experience, avoiding pitfalls like slow payouts or unfair terms. NextCasinos’ guide focuses on transparency, spotlighting trusted crypto casinos like JACKBIT for privacy, 7Bit for bonuses, or BitStarz for game variety. Our mission is to empower players with informed choices for safe, enjoyable gambling.

    Why Players Prefer The Best Crypto Casinos

    The top crypto casinos, accepting Bitcoin, Ethereum, and more, have surged in popularity due to their unique advantages over traditional platforms. These crypto-accepting casino sites offer distinct benefits that appeal to modern gamblers. Here’s why players flock to top crypto casinos:

    • Enhanced Privacy and Anonymity

    Top Bitcoin casinos like JACKBIT provide anonymous gaming with minimal KYC, safeguarding personal data. This privacy appeals to players who value security in crypto gambling sites. The best Bitcoin casinos prioritize user confidentiality, making them a trusted choice.

    • Swift and Seamless Transactions

    Best BTC casinos process deposits and withdrawals in minutes, unlike traditional casinos’ delays. This efficiency ensures players access funds quickly, enhancing the appeal of top crypto casinos. Crypto accepting casino platforms streamline financial interactions for convenience.

    • Low or No Transaction Fees:

    Crypto gambling sites often eliminate or reduce fees, unlike credit card or bank transfer methods. This cost-saving feature of the best crypto casinos allows players to retain more winnings. Trusted crypto casinos pass these savings to users, boosting value.

    • Global Accessibility:

    Top bitcoin casinos operate without geographic or currency barriers, welcoming players worldwide. This universal access makes the best crypto casinos ideal for diverse audiences. Crypto gambling sites ensure seamless gaming regardless of location.

    • Generous Bonuses and Promotions:

    With lower overhead, the best crypto casinos offer lucrative bonuses like free spins and rakebacks. These incentives, seen in trusted crypto casinos like 7Bit, enhance player engagement. Top crypto casinos consistently provide rewarding promotions.

    While the top Bitcoin casinos offer clear benefits, players should note risks like cryptocurrency volatility affecting winnings. Careful consideration ensures a responsible and enjoyable experience at casinos accepting crypto platforms. Always choose trusted crypto casinos for safety.

    What Makes The Best Crypto Casinos Stand Out?

    NextCasinos evaluated crypto gambling sites based on five critical factors to identify the best crypto casinos:

    • Payout Efficiency: How fast are crypto withdrawals processed?
    • Game Diversity: Are there varied, high-quality games from reputable providers?
    • Bonus Transparency: Do bonuses offer value with fair terms?
    • Security Standards: Is the platform licensed with strong encryption and fair games?
    • User Experience: Is navigation intuitive with responsive support?

    These criteria filtered out subpar platforms, ensuring our list features only the best crypto casinos.

    Complete Guide

    Find in-depth reviews, game insights, and expert tips by checking out NextCasinos’ top picks for the best crypto casinos of 2025.

    Conclusion on The Best Crypto Casinos of 2025

    The best crypto casinos of 2025, including JACKBIT, 7Bit Casino, KatsuBet, MIRAX Casino, and BitStarz, redefine online gambling with their innovative features and player-focused offerings. By prioritizing privacy, speed, and generous rewards, these top crypto casinos cater to diverse gaming preferences while ensuring safety and fairness.

    NextCasinos’ guide equips you with the knowledge to choose a trusted crypto casino, enhancing your gaming journey with confidence and excitement.

    Frequently Asked Questions

    1. What makes JACKBIT a top choice among the best crypto casinos in 2025?

    JACKBIT’s no-KYC policy ensures anonymity, while its 7,500+ games and 100 wager-free free spins make it the leading crypto casino.

    2. Are the crypto casinos secure for players?

    Trusted crypto casinos like 7Bit Casino employ SSL encryption and provably fair games, ensuring safety when licensed by reputable authorities.

    3. How quickly do the best crypto casinos process withdrawals?

    Top bitcoin casinos like BitStarz handle crypto withdrawals in minutes, though fiat transactions may take 1-3 days.

    4. Is it possible to play secretly at the top cryptocurrency casinos?

    Yes, the best crypto casinos like JACKBIT offer no-KYC options for anonymous gaming, with some requiring verification for large withdrawals.

    5. Why choose the best crypto casinos over traditional platforms?

    Best BTC casinos provide faster transactions, lower fees, enhanced privacy, and exclusive bonuses, ideal for modern players.

    6. What games can I play at the best crypto casinos?

    Top crypto casinos like MIRAX offer slots, table games, live dealers, and sports betting, with thousands of options.

    Contact Us

    Reach out at support@NextCasinos.com or visit NextCasinos for more details.

    Email: support@NextCasinos.com

    General Disclaimer

    This article is for informational and entertainment purposes only, not legal or financial advice. Content reflects research and user reviews as of May 19, 2025. Verify details before proceeding.

    Casino And Gambling Disclaimer

    Online gambling carries risks and may not suit everyone. Ensure you meet legal gambling age requirements in your region, as laws differ. NextCasinos does not endorse gambling; participation is at your own risk, and we are not liable for losses or disputes.

    Affiliate Disclosure

    This article may contain affiliate links, earning us commissions for qualifying actions at no cost to you. These support our content creation. Our recommendations remain unbiased, focusing on valuable platforms.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/15807656-ec5b-4853-859c-d99d0748ee60

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e7df3620-de40-4511-9c41-16e105513f8b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/433411ab-85af-4ac3-ba1c-5401eac6d565

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1c03dd3e-f989-47f8-8ba9-565b043da7fb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ee80a2d9-3682-438b-a041-af038af8aa62

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3843dd27-9576-44a9-9de6-a442b1c739b6

    The MIL Network –

  • MIL-OSI: UK’s Moneycorp selects Temenos SaaS to scale global business

    Source: GlobeNewswire (MIL-OSI)

    MADRID, Spain, May 20, 2025 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN) today announced that Moneycorp, a leading global payments and FX platform, has selected Temenos to power their next phase of products and services offering. The UK headquartered payments and FX specialist will adopt Temenos SaaS for core banking and payments to achieve speed to market and scale efficiently as it expands products and services around the world.

    By moving to Temenos SaaS, Moneycorp can focus on business growth while benefiting from advanced wallet and payments capabilities to deliver an enhanced client experience on a scalable, secure service.

    Moneycorp operates globally, with offices in Europe, North America, South America, and Asia, facilitating payments and foreign exchange transactions for corporates, financial institutions and private clients. In 2023, the company handled £71bn in trading volume serving 11,000 B2B clients, 250 financial institutions, and over 23,000 individuals. With 63 regulatory permissions worldwide, the group processes over 1 million payments annually, reaching 190 countries.

    With multi-geographic support, Moneycorp can seamlessly roll out new capabilities worldwide, leveraging a build-once, deploy anywhere approach across different regulatory jurisdictions. By utilizing Temenos Model Bank with pre-configured banking functionality and country-specific localization, Moneycorp will achieve faster time to value while reducing costs and delivery risk. Temenos’ open, API-based architecture will simplify integration with Moneycorp’s ecosystem, further accelerating innovation and enhancing operational agility.

    Srini Kasturi, Group Chief Technology Officer, Moneycorp, said: “Best-in-class technology is key to delivering the seamless client experience and personalized service that Moneycorp is known for, so we’re delighted to partner with Temenos, an established global leader in banking technology. Temenos’ multi-country support and localization will enable us to launch new solutions quickly around the world, while running on SaaS will help us to scale efficiently while maintaining our focus on delivering our award-winning, easy to use service to customers worldwide.”

    Mark Yamin-Ali, Managing Director, Europe, Temenos, commented: “We’re proud to partner with Moneycorp, a U.K. success story and world leading cross-border payments provider. This strategic transformation which will see Temenos underpin Moneycorp’s core banking and payments ecosystem across its global operation. Moneycorp sought a SaaS solution with deep functionality and the latest technology—capabilities only Temenos could deliver—along with our expertise in Western Europe and the U.S. We look forward to working with Moneycorp to drive the next phase of their impressive growth story.”

    The MIL Network –

  • MIL-OSI Submissions: Australia Banking Sector – CBA cuts interest rates for business bank customers

    Source: Commonwealth Bank of Australia

    The Commonwealth Bank has responded to the Reserve Bank of Australia’s cash rate decision, reducing rates on eligible business banking products.

    Commonwealth Bank will reduce interest rates by 25 basis points per annum (p.a.) on eligible business lending products, following the Reserve Bank of Australia (RBA) decision to decrease the official cash rate by 0.25% p.a.

    The rate reduction will apply to CBA Business Bank’s Variable Base Rate, Residential Equity Rate, and Overdraft Reference Rate, flowing through to business lending products including BetterBusiness Loans and Business Overdrafts. These rate changes will be effective 30 May 2025.

    CBA Group Executive Business Banking, Mike Vacy-Lyle, said: “Australian businesses have been navigating unexpected challenges in recent months – from global trade tensions and volatile market swings to cyclones, droughts, bushfires and flooding. Businesses have also grappled with unexpected expenses and cashflow pressures from rising input prices and higher labour costs.

    “While elevated uncertainty poses an ongoing risk to both global and domestic growth, Australia remains relatively well positioned to navigate these challenges, and as inflation moderates, the economy is showing signs of improvement.

    “We’ll continue to focus on supporting our customers, allowing them to grow and invest in their operations. We also know that some businesses are finding it tough, and we have a range of measures available for businesses facing difficulty. Any customer needing support should contact our dedicated Business Financial Assistance team.”

    Support for small businesses customers

    A range of support options are available for business customers. These include:

    Reduced payments for a period of time
    Extension of a loan term
    Debt restructure
    Debt refinance
    Concessions for certain fees and charges

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Australia Banking Sector – CBA announces interest rate reductions

    Source: Commonwealth Bank of Australia

    The Commonwealth Bank has responded to the Reserve Bank of Australia’s cash rate decision.

    Following the Reserve Bank of Australia’s (RBA) decision to decrease the official cash rate by 0.25% per annum (p.a.), CBA will decrease home loan variable interest rates by 0.25% p.a.

    All home loan variable rate changes announced today will be effective 30 May 2025.

    CBA’s Group Executive, Retail Banking Services, Angus Sullivan said: “Today’s decision will help to deliver some much-needed additional relief for many Australians with a mortgage.

    “When combined with the February rate cut this change should free up some more cash flow for homeowners who need it. We know many have had tighter budgets in recent months and will welcome that additional flexibility.

    “Today’s announcement of a 0.25% p.a. rate cut will help to deliver a monthly saving of approximately $80 for home loan customers making principal and interest repayments on an average loan size of $500,000. After two rate cuts many home loan customers will start to see a more meaningful change month to month.”

    Following the February rate reduction, around 14 per cent of eligible1 customers reduced their direct debit repayments, with many others choosing to continue paying off their home loan at a slightly faster rate. Mr Sullivan said for those customers who would like to reduce their home loan direct debit following today’s rate cut announcement, they will be able to do so via the CommBank app or NetBank the day after the rate change is effective.  

    “We know homeowners like to manage their finances in line with their individual budgets and they can change their direct debits very simply via our digital channels,” he said.

    Support for home loan customers

    For our home loan customers we have a range of support options available that can help them navigate today’s change. These include:

    • Estimating future home loan repayments via the home loan repayments calculator. You can also estimate the impact additional payments can make to your loan balance and duration.   
    • Changing the repayment amount and frequency of home loan payments. Eligible customers can reduce their mortgage repayments and align their repayment timing to when and how often they are paid via the CommBank app or NetBank.

    A range of money management support and tools are also available in the CommBank app. These include:

    • Spend Tracker in the CommBank app to help categorise your debit and credit card transactions, making it easier to see the impact your spending decisions have on your everyday finances.
    • Category budgets to set weekly, fortnightly or monthly budgets for different categories of your spending – from entertainment to transport, eating out and shopping. You can see how your spending compares to the budget you set yourself, to help you stay on track.

    MIL OSI – Submitted News –