NewzIntel.com

Category: Economy

  • MIL-OSI: Alaris Equity Partners Announces Upsizing of Previously Announced Convertible Unsecured Senior Debentures

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION IN THE UNITED STATES.
    FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW

    CALGARY, Alberta, May 14, 2025 (GLOBE NEWSWIRE) — Alaris Equity Partners Income Trust (“Alaris” or the “Trust”) (TSX: AD.UN) is pleased to announce that as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank Financial Inc., CIBC Capital Markets, and Desjardins Capital Markets to increase the size of its previously announced bought deal financing. Alaris will now issue 80,000 convertible unsecured senior debentures due June 30, 2030 (the “Debentures”) at a price of $1,000 per Debenture (the “Offering”) for aggregate gross proceeds of $80,000,000 (the “Offering”). The Trust has also granted the Underwriters an option to purchase up to an additional $12,000,000 aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, from time to time, up to 30 days following the closing of the Offering. Unless otherwise stated, all numbers in this press release are presented in Canadian dollars.

    In all other respects, the terms of the Offering and use of proceeds therefrom will remain as previously disclosed in the original press release dated May 13, 2025. The Offering is expected to close on or about June 2, 2025 (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the Toronto Stock Exchange. A preliminary short form prospectus will be filed with securities regulatory authorities in all provinces of Canada, other than the province of Québec.

    This news release is not an offer of securities of Alaris for sale in the United States. The Debentures have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the Debentures may not be offered or sold in the United States except pursuant to an applicable exemption from such registration. No public offering of securities is being made in the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

    ABOUT ALARIS

    The Trust, through its subsidiaries, invests in a diversified group of private businesses (“Partners”) primarily through structured equity. The primary goal of our structured equity investments is to deliver stable and predictable returns to our unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow us to generate returns in alignment with the founders of our Partners.

    FORWARD LOOKING STATEMENTS

    This news release contains forward-looking statements, including forward-looking statements within the meaning of “safe harbor” provisions under applicable securities laws (“forward-looking statements“). Statements other than statements of historical fact contained in this news release may be forward-looking statements including, without limitation, management’s expectations, intentions and beliefs concerning: the anticipated Closing Date; the intended use of proceeds of the Offering; the anticipated terms and timing of conversion, redemption and maturity of the Debentures; expectations regarding the filing of a preliminary prospectus and the anticipated jurisdictions for the Offering. Many of these statements can be identified by words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations on which these forward-looking statements are based will occur.

    By their nature, forward-looking statements require Alaris to make assumptions and are subject to inherent risks and uncertainties. Key assumptions include, but are not limited to, assumptions that: the required regulatory approvals for the Offering will be obtained in a timely fashion; the Debentures and trust units issued upon the conversion of the Debentures will be listed for trading on the TSX; interest rates will not rise in a matter materially different from the prevailing market expectations over the next 12 to 24 months; no widespread global health crisis will impact the economy or any Partners’ operations in a material way in the next 12 months; the businesses of the majority of our Partners will continue to grow; the businesses of new Partners and those of existing Partners will perform in line with Alaris’ expectations and diligence; more private companies will require access to alternative sources of capital and that Alaris will have the ability to raise required equity and/or debt financing on acceptable terms.

    Forward-looking statements are subject to risks, uncertainties and assumptions and should not be read as guarantees or assurances of future performance. The actual results of the Trust and the Partners could materially differ from those anticipated in the forward-looking statements contained herein as a result of certain risk factors, including, but not limited to: the ability of the Trust to obtain the required regulatory approvals for the Offering; the ability of our Partners and, correspondingly, Alaris to meet performance expectations for 2025 and beyond; any change in the senior lenders’ outlook for Alaris’ business; management’s ability to assess and mitigate the impacts of any local, regional, national or international health crises like COVID-19 or its variants; the dependence of Alaris on the Partners; reliance on key personnel; general economic conditions in Canada, North America and globally; failure to complete or realize the anticipated benefit of Alaris’ financing arrangements with the Partners; a failure of the Trust or any Partners to obtain required regulatory approvals on a timely basis or at all; changes in legislation and regulations and the interpretations thereof; risks relating to the Partners and their businesses, including, without limitation, a material change in the operations of a Partner or the industries they operate in; inability to close additional Partner contributions in a timely fashion, or at all; a change in the ability of the Partners to continue to pay Alaris’ distributions; a material change in the unaudited information provided to Alaris by the Partners; a failure of a Partner (or Partners) to realize on their anticipated growth strategies; a failure to achieve the expected benefits of the third-party asset management strategy or similar new investment structures and strategies; conflicts of interest that may arise under the asset management strategy or otherwise; a failure to achieve resolutions for outstanding issues with Partners on terms materially in line with management’s expectations or at all; and a failure to realize the benefits of any concessions or relief measures provided by Alaris to any Partner or to successfully execute an exit strategy for a Partner where desired. Additional risks that may cause actual results to vary from those indicated are discussed under the heading “Risk Factors” and “Forward Looking Statements” in the Trust’s Management Discussion and Analysis for the year ended December 31, 2024, which is filed under the Trust’s profile at www.sedarplus.ca and on its website at www.alarisequitypartners.com.

    Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Statements containing forward-looking information reflect management’s current beliefs and assumptions based on information in its possession on the date of this news release. Although management believes that the assumptions reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations will prove to be correct.

    The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release and Alaris does not undertake or assume any obligation to update or revise such statements to reflect new events or circumstances except as expressly required by applicable securities legislation.

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

    For further information please contact:

    ir@alarisequity.com
    P: (403) 260-1457
    Alaris Equity Partners Income Trust
    Suite 250, 333 24th Avenue S.W.
    Calgary, Alberta T2S 3E6
    www.alarisequitypartners.com

    The MIL Network –

  • MIL-OSI: Beam Global to Release Q1 2025 Operating Results, Conference Call Scheduled for May 15, 2025 at 4:30 p.m. ET

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, May 14, 2025 (GLOBE NEWSWIRE) —  Beam Global, (Nasdaq: BEEM), (the “Company”), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced that it will report its Q1 2025 operating results on Thursday, May 15, 2025 after the market closes. Management will host a conference call on Thursday, May 15, 2025 at 4:30 p.m. ET to review financial results and provide an update on corporate developments. Following management’s formal remarks, there will be a question-and-answer session.

    Conference call details:

    Date: May 15, 2025
    Time: 4:30 p.m. Eastern / 1:30 p.m. Pacific
    Toll-Free Dial-In Number: 1-844-739-3880
    International Dial-In Number: 1-412-317-5716

    Pre-register for the call through this link: https://dpregister.com/sreg/10200046/ff2f9aecc8

    All callers should pre-register for the call through the link above. Please dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the Beam Global call.

    A webcast archive will be available on our website (www.BeamForAll.com) following the call.

    About Beam Global
    Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Broadview, IL and Belgrade and Kraljevo, Serbia. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube, Instagram and X (formerly Twitter).

    Investor Relations
    Luke Higgins
    +1-858-799-4583
    IR@BeamForAll.com

    Media Contact
    Andy Lovsted
    +1-858-335-8465
    Press@BeamForAll.com

    The MIL Network –

  • MIL-OSI: XenDex Prepares to Reveal Full Platform Mockup Design as $XDX Presale Nears Final Countdown

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, May 14, 2025 (GLOBE NEWSWIRE) — XenDex, the first all-in-one decentralized exchange on the XRP Ledger, is proud to announce that its full platform is actively in development, and a first-look mockup design is set to be revealed in a few hours.

    With all core features being built into a sleek, user-friendly interface, XenDex is delivering what no other XRPL-based project has offered to date: a unified DeFi experience that combines AI-powered copy trading, non-custodial lending and borrowing, staking, cross-chain trading, and DAO governance, all within a single platform.

    Purchase $XDX At A low Price

    XenDex Platform Preview Coming Soon

    To demonstrate the depth of development underway, XenDex will release visual mockups of the upcoming platform, giving investors and community members an exclusive preview of how the platform will look, feel, and function.

    From live trading interfaces to lending dashboards, staking portals, and AI copy trading modules, this upcoming design reveal will provide a clear glimpse into the future of decentralized finance on XRP.

    Buy $XDX Now & Earn Rewards

    Why You Should Join the $XDX Presale Before It’s Too Late

    As development accelerates, the $XDX token presale is rapidly approaching sellout, and the current entry price will not last much longer.

    • Current Rate: 1.25 XRP = 10 XDX
    • Minimum Buy: 150 XRP
    • Soft Cap: Reached

    Buy Now Before Presale Ends: https://xendex.net/presale

    Once sold out, the next chance to acquire $XDX will be on major centralized exchanges, at a significantly higher price.

    $XDX: The Utility Token Powering XenDex

    The $XDX token unlocks full access to all features on the XenDex platform, including:

    • Governance voting
    • Reduced trading & borrowing fees
    • Staking rewards & liquidity incentives
    • Copy trading integration
    • Collateral for lending protocols
    • Priority access to new features and airdrops

    Buy XDX Before Listing On Exchange

    XenDex Platform Key Features

    • AI-Powered Copy Trading – Mirror professional traders to maximize gains
    • Lending & Borrowing – Borrow and lend XRP and $XDX with smart contract security
    • Cross-Chain Trading – Swap XRP with tokens across BNB Chain, Solana, and more
    • Staking & Yield Farming – Earn while supporting platform liquidity
    • DAO Governance – $XDX holders vote on upgrades, proposals, and token listings

    With its clean, mobile-friendly design, XenDex is being built to onboard everyone, from DeFi beginners to institutional traders.

    Join the XenDex Movement

    Website: https://xendex.net
    Presale: https://xendex.net/presale
    Telegram: https://t.me/xendexcommunity
    Twitter/X: https://x.com/xendex_xrp
    Docs: https://xdxdocs.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aefbc255-de35-4f03-a6ec-b8786296bf8d

    The MIL Network –

  • MIL-OSI Africa: Southern Africa’s rangelands do many jobs, from feeding cattle to storing carbon: a review of 60 years of research

    Source: The Conversation – Africa – By Kevin Kirkman, Professor of Grassland Science, University of KwaZulu-Natal

    South Africa’s rangelands have always had great value for the country. These areas offer more than just grazing for livestock. They provide services like purifying water, storing carbon and conserving biodiversity.

    The grassland biome (28%), along with the savanna (32.5%) and the Nama-Karoo (19.5%), are collectively referred to as rangelands. They make up almost 80% of the land area of South Africa.

    Their ecological services haven’t always been fully appreciated. Research into rangelands has evolved in response to environmental changes, human needs and scientific discoveries.

    Commercial livestock production was the main concern when academics, researchers and practitioners met for the first congress of the Grassland Society of Southern Africa in 1966. Less than 15% of South Africa’s land surface area is arable. The only agricultural production possible on the balance of the land is livestock production from natural rangeland. Livestock production is thus a cornerstone of agriculture and food production in South Africa.

    Six decades on, the Grassland Society has reflected – through a special issue of its journal, the African Journal of Range and Forage Science – on how it has tackled research challenges and adapted to shifting perceptions of rangelands.

    Research has explored aspects of global change, bush encroachment and other changes in rangeland composition and function. Land transformation is another research area. Peri-urban sprawl, open-cast mining, timber plantations and other developments reduce and fragment rangeland. The result is increased pressure on the remaining, intact rangelands.

    Widening scope

    A review of research over the 60 years shows that early efforts focused mainly on forage production to support livestock industries. Research topics included rotational grazing and burning, as well as reinforcing rangelands by adding nutrients, forage grasses and legumes.

    By the 1980s, it became clear that rangelands offered more than just grazing – they were vital ecosystems.

    Rangelands in southern Africa span diverse climates and landscapes, from arid deserts to moist mountains. Kevin Kirkman, Author provided (no reuse)

    In the early 1990s, around the onset of democracy in South Africa, local researchers became part of global conversations around rangeland ecology. In doing so, they started to use the international terminology, instead of the old Dutch-derived word “veld”.

    This shift was not just about geography, but about scope. Rangelands were increasingly seen as multifaceted ecosystems critical in the fight against climate change. Increasing temperatures, increasing atmospheric carbon dioxide levels and changing rainfall patterns pose a threat to all ecosystems. Understanding the response of rangelands is increasingly important in devising management strategies to adapt to these changes.

    Scientists expanded their attention to preserving soil health, restoring degraded landscapes, and maintaining biodiversity. Issues like overgrazing, soil erosion and invasive species gained recognition in southern Africa. Degradation of rangelands in South Africa was first highlighted in the mid 1700s, and became a “mainstream” issue in the 1930s. Replacing a diverse group of wild animals with a single species of grazer, such as cattle, is the reason generally given for degradation. Fire has also been linked to it (often unfairly).

    The Grassland Society responded by promoting ideas like adaptive grazing management (making decisions in response to conditions, rather than following a recipe approach). It also encouraged integrating indigenous knowledge with scientific research to create more sustainable and resilient land-use systems. This has helped shape land management practices across the region.

    Rangelands are dynamic, especially in the Karoo, where vegetation cover can shift dramatically in response to rainfall and grazing. Justin du Toit, Author provided (no reuse)

    Many southern African rangelands face the challenge of balancing grazing with biodiversity conservation. Research on conservation agriculture and integrating livestock and wildlife systems is helping farmers and conservationists to find common ground. Wildlife, both in the conservation and the game production contexts, plays a critical role in South Africa’s economy. Tourism is one of the major contributors.

    Land management is particularly important in the Mediterranean-climate regions of South Africa, where poor crop farming practices have damaged soil health. The research is guiding the development of more sustainable farming systems focused on soil regeneration and biodiversity.

    A key indicator of ecosystem degradation is a decline in grassland forbs (herbaceous plants that are not grasses). They are highly sensitive to grazing pressure. So the role of wildflowers in ecosystem health and animal wellbeing has also become an important research area.

    Climate change, fire suppression and overgrazing drive woody plant encroachment, where grasslands are turning into shrublands. This calls for integrated management approaches that consider fire, grazing and even controlled rewilding.

    Fire is a natural element in many grassland ecosystems, and research has helped advance understanding of how it can be monitored and controlled to reduce risks while promoting healthy rangelands.

    People and grasslands

    Grazing contrast. Justin du Toit

    Rangeland management has important social dimensions. Research is addressing issues such as land tenure, governance, community management systems on communal rangelands and indigenous knowledge in management decisions. These topics are essential for creating sustainable solutions that account for people’s livelihoods and needs.

    In addition to these ecological, social and management advances, the Grassland Society of Southern Africa has worked to develop the next generation of rangeland scientists and practitioners. Through its congresses, workshops and journal publications, the society continues to foster dialogue across disciplines and communities. Its 60th congress will be held in July 2025.

    – Southern Africa’s rangelands do many jobs, from feeding cattle to storing carbon: a review of 60 years of research
    – https://theconversation.com/southern-africas-rangelands-do-many-jobs-from-feeding-cattle-to-storing-carbon-a-review-of-60-years-of-research-254736

    MIL OSI Africa –

  • MIL-OSI Africa: Light is the science of the future – the Africans using it to solve local challenges

    Source: The Conversation – Africa – By Andrew Forbes, Professor, University of the Witwatersrand

    Light is all around us, essential for one of our primary senses (sight) as well as life on Earth itself. It underpins many technologies that affect our daily lives, including energy harvesting with solar cells, light-emitting-diode (LED) displays and telecommunications through fibre optic networks.

    The smartphone is a great example of the power of light. Inside the box, its electronic functionality works because of quantum mechanics. The front screen is an entirely photonic device: liquid crystals controlling light. The back too: white light-emitting diodes for a flash, and lenses to capture images.

    We use the word photonics, and sometimes optics, to capture the harnessing of light for new applications and technologies. Their importance in modern life is celebrated every year on 16 May with the International Day of Light.

    Scientists on the African continent, despite the resource constraints they work under, have made notable contributions to photonics research. Some of these have been captured in a recent special issue of the journal Applied Optics. Along with colleagues in this field from Morocco and Senegal, we introduced this collection of papers, which aims to celebrate excellence and show the impact of studies that address continental issues.

    A spotlight on photonics in Africa

    Africa’s history in formal optics stems back thousands of years, with references to lens design already recorded in ancient Egyptian writings.

    In more recent times, Africa has contributed to two Nobel prizes based on optics. Ahmed Zewail (Egyptian born) watched the ultrafast processes in chemistry with lasers (1999, Nobel Prize for Chemistry) and Serge Harouche (Moroccan born) studied the behaviour of individual particles of light, photons (2012, Nobel Prize for Physics).

    Unfortunately, the African optics story is one of pockets of excellence. The highlights are as good as anywhere else, but there are too few of them to put the continent on the global optics map. According to a 2020 calculation done for me by the Optical Society of America, based on their journals, Africa contributes less than 1% to worldwide journal publications with optics or photonics as a theme.

    Yet there are great opportunities for meeting continental challenges using optics. Examples of areas where Africans can innovate are:

    • bridging the digital divide with modern communications infrastructure

    • optical imaging and spectroscopy for improvements in agriculture and monitoring climate changes

    • harnessing the sun with optical materials for clean energy

    • bio-photonics to solve health issues

    • quantum technologies for novel forms of communicating, sensing, imaging and computing.

    The papers in the special journal issue touch on a diversity of continent-relevant topics.

    One is on using optics to communicate across free-space (air) even in bad weather conditions. This light-based solution was tested using weather data from two African cities, Alexandria in Egypt and Setif in Algeria.

    Another paper is about tiny quantum sources of quantum entanglement for sensing. The authors used diamond, a gem found in South Africa and more commonly associated with jewellery. Diamond has many flaws, one of which can produce single photons as an output when excited. The single photon output was split into two paths, as if the particle went both left and right at the same time. This is the quirky notion of entanglement, in this case, created with diamonds. If an object is placed in any one path, the entanglement can detect it. Strangely, sometimes the photons take the left-path but the object is in the right-path, yet still it can be detected.

    Read more: Quantum entanglement: what it is, and why physicists want to harness it

    One contributor proposes a cost-effective method to detect and classify harmful bacteria in water.

    New approaches in spectroscopy (studying colour) for detecting cell health; biosensors to monitor salt and glucose levels in blood; and optical tools for food security all play their part in optical applications on the continent.

    Another area of African optics research that has important applications is the use of optical fibres for sensing the quality of soil and its structural integrity. Optical fibres are usually associated with communication, but a modern trend is to use the existing optical fibre already laid to sense for small changes in the environment, for instance, as early warning systems for earthquakes. The research shows that conventional fibre can also be used to tell if soil is degrading, either from lack of moisture or some physical shift in structure (weakness or movement). It is an immediately useful tool for agriculture, building on many decades of research.

    The diverse range of topics in the collection shows how creative researchers on the continent are in using limited resources for maximum impact. The high orientation towards applications is probably also a sign that African governments want their scientists to work on solutions to real problems rather than purely academic questions. A case in point is South Africa, which has a funded national strategy (SA QuTI) to turn quantum science into quantum technology and train the workforce for a new economy.

    Towards a brighter future

    For young science students wishing to enter the field, the opportunities are endless. While photonics has no discipline boundaries, most students enter through the fields of physics, engineering, chemistry or the life sciences. Its power lies in the combination of skills, blending theoretical, computational and experimental, that are brought to bear on problems. At a typical photonics conference there are likely to be many more industry participants than academics. That’s a testament to its universal impact in new technologies, and the employment opportunities for students.

    The last century was based on electronics and controlling electrons. This century will be dominated by photonics, controlling photons.

    Professor Zouheir Sekkat of University Mohamed V, Rabat, and director of the Pole of Optics and Photonics within MAScIR of University Mohamed VI Polytechnic Benguerir, Morocco, contributed to this article.

    – Light is the science of the future – the Africans using it to solve local challenges
    – https://theconversation.com/light-is-the-science-of-the-future-the-africans-using-it-to-solve-local-challenges-256031

    MIL OSI Africa –

  • MIL-OSI: Gabelli Equity Trust 10% Distribution Policy Reaffirmed and Declared Second Quarter Distribution of $0.15 Per Share

    Source: GlobeNewswire (MIL-OSI)

    RYE, N.Y., May 14, 2025 (GLOBE NEWSWIRE) — The Board of Directors of The Gabelli Equity Trust Inc. (NYSE:GAB) (the “Fund”) reaffirmed and satisfied its 10% distribution policy by declaring a $0.15 per share cash distribution payable on June 23, 2025 to common stock shareholders of record on June 13, 2025.

    The Fund intends to pay a minimum annual distribution of 10% of the average net asset value of the Fund within a calendar year or an amount sufficient to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies. The average net asset value of the Fund is based on the average net asset values as of the last day of the four preceding calendar quarters during the year. The net asset value per share fluctuates daily.

    Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Directors will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the current financial market environment. The Fund’s distribution policy is subject to modification by the Board of Directors at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

    All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their “net investment income”, which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

    If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.

    Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2025 would include approximately 2% from net investment income, 21% from net capital gains and 77% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2025 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2025 distributions in early 2026 via Form 1099-DIV.

    Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

    Molly Marion
    (914) 921-5681

    About The Gabelli Equity Trust
    The Gabelli Equity Trust Inc. is a diversified, closed-end management investment company with $2.0 billion in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

    NYSE – GAB
    CUSIP – 362397101

    THE GABELLI EQUITY TRUST INC
        Investor Relations Contact:
        Molly Marion
        (914) 921-5681
        mmarion@gabelli.com

    The MIL Network –

  • MIL-OSI USA: ICYMI: Senator Mullin Applauds President Trump’s Trip to the Middle East, Slams Democrat Senator Chris Murphy for his Hypocrisy on Fox Business

    US Senate News:

    Source: United States Senator MarkWayne Mullin (R-Oklahoma)

    ICYMI: Senator Mullin Applauds President Trump’s Trip to the Middle East, Slams Democrat Senator Chris Murphy for his Hypocrisy on Fox Business

    Washington, D.C. – On Tuesday, U.S. Senator Markwayne Mullin (R-OK) joined Fox Business’ “Varney & Company”  to discuss President Trump’s visit to the Middle East and Democrat Senator Chris Murphy’s (D-CT) blatant hypocrisy. Highlights below.

    Sen. Mullin’s full interview can be found here.
    On President Trump possibly attending the upcoming meeting between Russia and Ukraine:
    “The President is being recognized around the world as the chief dealmaker, and Zelensky is very smart by saying he wants him at the table. However, there’s some real differences in what the proposal for a peace deal that Zelensky has put on the table and what Putin has put on the table, and unless there’s actually a path forward to possibly getting a peace deal, I don’t see President Trump getting there. However, if President Trump showed up, I would say that there’s probably a 90% chance that a peace deal would be part of the deal before he left.”
    On Senator Chris Murphy’s hypocrisy:  
    “First of all, I have to address Chris Murphy here, because Chris Murphy is a man that lacks integrity at this point. I could understand if Chris was willing to call out the Bidens when they set up 20 plus shell companies to funnel millions, literally over $25 million through, which had no assets coming from foreign entities, just simply to have access to then, at that time, the Vice President Biden and President Biden when he was in office.”
    “If Chris Murphy wants to actually show that he has integrity, then call it for what it is. The fact is, he’s willing to do and say whatever it takes to actually get the nod from the Democrats to run for President in 2028. That’s all Chris Murphy is doing. He’s auditioning right now. And what can he talk about, right? He can’t talk about the successes of President Trump. He can’t talk the fact that President Trump is actually restructuring the tariff deals that’s going to put our economy and our future workers in the driver’s seat again, which we’ve been neglecting for the last 30 years. He can’t talk about the rally of the stock market. He can’t talk about the foreign affairs that President Trump is taking by peace through strength instead of Biden’s, peace through appeasement.”
    On American leadership returning to the Middle East:
    “And what is happening right now with President Trump going to the Middle East, is the Middle East is begging for a leader. We saw a lackluster leader in Biden when he was president, and after the disastrous withdrawal from Afghanistan, we left a lot of our partners in the Middle East holding a bag saying, ‘Where is the United States?’ Remember, UAE was the only country in the Middle East that actually fought along with us in Afghanistan… And what did the Biden administration do when they got in office? They pulled out of the F-35 bill that President Trump put in place. What did we do to Saudi Arabia? Instead of negotiating with Saudi Arabia with arms deals, we started negotiating with Iran and gave them billions of dollars on a, literally, pallet that we flew there in an Air Force plane. It is absurd.”
    “President Trump, right now is restructuring that order, saying our friends and allies in the Middle East, we’re here for you, and we want to show our gratitude and appreciation for what you’ve done for us and hopefully normalize relationships inside the Middle East, with Israel and Saudi Arabia.”
    On the 747 jet from Qatar:
    “The way the Left is blowing this up is just to distract from the success that President Trump has had in his 120 days in office. This is an absolute nothing burger, as we would say, and the fact that they’re making a big deal out of this is absurd. I want to point out something too that a lot of people isn’t talking about the negotiation on the 747 was actually started underneath the Biden administration, but they couldn’t close the deal. There’s a whole lot more to the story that we can get to at a different point but the fact that they’re wanting to gift it to the United States, we would be absolutely absurd not to take the gift.”

    MIL OSI USA News –

  • MIL-OSI Global: Southern Africa’s rangelands do many jobs, from feeding cattle to storing carbon: a review of 60 years of research

    Source: The Conversation – Africa – By Kevin Kirkman, Professor of Grassland Science, University of KwaZulu-Natal

    South Africa’s rangelands have always had great value for the country. These areas offer more than just grazing for livestock. They provide services like purifying water, storing carbon and conserving biodiversity.

    The grassland biome (28%), along with the savanna (32.5%) and the Nama-Karoo (19.5%), are collectively referred to as rangelands. They make up almost 80% of the land area of South Africa.

    Their ecological services haven’t always been fully appreciated. Research into rangelands has evolved in response to environmental changes, human needs and scientific discoveries.

    Commercial livestock production was the main concern when academics, researchers and practitioners met for the first congress of the Grassland Society of Southern Africa in 1966. Less than 15% of South Africa’s land surface area is arable. The only agricultural production possible on the balance of the land is livestock production from natural rangeland. Livestock production is thus a cornerstone of agriculture and food production in South Africa.

    Six decades on, the Grassland Society has reflected – through a special issue of its journal, the African Journal of Range and Forage Science – on how it has tackled research challenges and adapted to shifting perceptions of rangelands.

    Research has explored aspects of global change, bush encroachment and other changes in rangeland composition and function. Land transformation is another research area. Peri-urban sprawl, open-cast mining, timber plantations and other developments reduce and fragment rangeland. The result is increased pressure on the remaining, intact rangelands.

    Widening scope

    A review of research over the 60 years shows that early efforts focused mainly on forage production to support livestock industries. Research topics included rotational grazing and burning, as well as reinforcing rangelands by adding nutrients, forage grasses and legumes.

    By the 1980s, it became clear that rangelands offered more than just grazing – they were vital ecosystems.

    In the early 1990s, around the onset of democracy in South Africa, local researchers became part of global conversations around rangeland ecology. In doing so, they started to use the international terminology, instead of the old Dutch-derived word “veld”.

    This shift was not just about geography, but about scope. Rangelands were increasingly seen as multifaceted ecosystems critical in the fight against climate change. Increasing temperatures, increasing atmospheric carbon dioxide levels and changing rainfall patterns pose a threat to all ecosystems. Understanding the response of rangelands is increasingly important in devising management strategies to adapt to these changes.

    Scientists expanded their attention to preserving soil health, restoring degraded landscapes, and maintaining biodiversity. Issues like overgrazing, soil erosion and invasive species gained recognition in southern Africa. Degradation of rangelands in South Africa was first highlighted in the mid 1700s, and became a “mainstream” issue in the 1930s. Replacing a diverse group of wild animals with a single species of grazer, such as cattle, is the reason generally given for degradation. Fire has also been linked to it (often unfairly).

    The Grassland Society responded by promoting ideas like adaptive grazing management (making decisions in response to conditions, rather than following a recipe approach). It also encouraged integrating indigenous knowledge with scientific research to create more sustainable and resilient land-use systems. This has helped shape land management practices across the region.

    Many southern African rangelands face the challenge of balancing grazing with biodiversity conservation. Research on conservation agriculture and integrating livestock and wildlife systems is helping farmers and conservationists to find common ground. Wildlife, both in the conservation and the game production contexts, plays a critical role in South Africa’s economy. Tourism is one of the major contributors.

    Land management is particularly important in the Mediterranean-climate regions of South Africa, where poor crop farming practices have damaged soil health. The research is guiding the development of more sustainable farming systems focused on soil regeneration and biodiversity.

    A key indicator of ecosystem degradation is a decline in grassland forbs (herbaceous plants that are not grasses). They are highly sensitive to grazing pressure. So the role of wildflowers in ecosystem health and animal wellbeing has also become an important research area.

    Climate change, fire suppression and overgrazing drive woody plant encroachment, where grasslands are turning into shrublands. This calls for integrated management approaches that consider fire, grazing and even controlled rewilding.

    Fire is a natural element in many grassland ecosystems, and research has helped advance understanding of how it can be monitored and controlled to reduce risks while promoting healthy rangelands.

    People and grasslands

    Rangeland management has important social dimensions. Research is addressing issues such as land tenure, governance, community management systems on communal rangelands and indigenous knowledge in management decisions. These topics are essential for creating sustainable solutions that account for people’s livelihoods and needs.

    In addition to these ecological, social and management advances, the Grassland Society of Southern Africa has worked to develop the next generation of rangeland scientists and practitioners. Through its congresses, workshops and journal publications, the society continues to foster dialogue across disciplines and communities. Its 60th congress will be held in July 2025.

    Kevin Kirkman receives funding from the National Research Foundation.

    Helga van der Merwe receives funding from the National Research Foundation.

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

    – ref. Southern Africa’s rangelands do many jobs, from feeding cattle to storing carbon: a review of 60 years of research – https://theconversation.com/southern-africas-rangelands-do-many-jobs-from-feeding-cattle-to-storing-carbon-a-review-of-60-years-of-research-254736

    MIL OSI – Global Reports –

  • MIL-OSI Global: Light is the science of the future – the Africans using it to solve local challenges

    Source: The Conversation – Africa – By Andrew Forbes, Professor, University of the Witwatersrand

    Light-based technologies have wide practical applications. Wikimedia Commons, CC BY

    Light is all around us, essential for one of our primary senses (sight) as well as life on Earth itself. It underpins many technologies that affect our daily lives, including energy harvesting with solar cells, light-emitting-diode (LED) displays and telecommunications through fibre optic networks.

    The smartphone is a great example of the power of light. Inside the box, its electronic functionality works because of quantum mechanics. The front screen is an entirely photonic device: liquid crystals controlling light. The back too: white light-emitting diodes for a flash, and lenses to capture images.

    We use the word photonics, and sometimes optics, to capture the harnessing of light for new applications and technologies. Their importance in modern life is celebrated every year on 16 May with the International Day of Light.

    Scientists on the African continent, despite the resource constraints they work under, have made notable contributions to photonics research. Some of these have been captured in a recent special issue of the journal Applied Optics. Along with colleagues in this field from Morocco and Senegal, we introduced this collection of papers, which aims to celebrate excellence and show the impact of studies that address continental issues.

    A spotlight on photonics in Africa

    Africa’s history in formal optics stems back thousands of years, with references to lens design already recorded in ancient Egyptian writings.

    In more recent times, Africa has contributed to two Nobel prizes based on optics. Ahmed Zewail (Egyptian born) watched the ultrafast processes in chemistry with lasers (1999, Nobel Prize for Chemistry) and Serge Harouche (Moroccan born) studied the behaviour of individual particles of light, photons (2012, Nobel Prize for Physics).

    Unfortunately, the African optics story is one of pockets of excellence. The highlights are as good as anywhere else, but there are too few of them to put the continent on the global optics map. According to a 2020 calculation done for me by the Optical Society of America, based on their journals, Africa contributes less than 1% to worldwide journal publications with optics or photonics as a theme.

    Yet there are great opportunities for meeting continental challenges using optics. Examples of areas where Africans can innovate are:

    • bridging the digital divide with modern communications infrastructure

    • optical imaging and spectroscopy for improvements in agriculture and monitoring climate changes

    • harnessing the sun with optical materials for clean energy

    • bio-photonics to solve health issues

    • quantum technologies for novel forms of communicating, sensing, imaging and computing.

    The papers in the special journal issue touch on a diversity of continent-relevant topics.

    One is on using optics to communicate across free-space (air) even in bad weather conditions. This light-based solution was tested using weather data from two African cities, Alexandria in Egypt and Setif in Algeria.

    Another paper is about tiny quantum sources of quantum entanglement for sensing. The authors used diamond, a gem found in South Africa and more commonly associated with jewellery. Diamond has many flaws, one of which can produce single photons as an output when excited. The single photon output was split into two paths, as if the particle went both left and right at the same time. This is the quirky notion of entanglement, in this case, created with diamonds. If an object is placed in any one path, the entanglement can detect it. Strangely, sometimes the photons take the left-path but the object is in the right-path, yet still it can be detected.



    Read more:
    Quantum entanglement: what it is, and why physicists want to harness it

    One contributor proposes a cost-effective method to detect and classify harmful bacteria in water.

    New approaches in spectroscopy (studying colour) for detecting cell health; biosensors to monitor salt and glucose levels in blood; and optical tools for food security all play their part in optical applications on the continent.

    Another area of African optics research that has important applications is the use of optical fibres for sensing the quality of soil and its structural integrity. Optical fibres are usually associated with communication, but a modern trend is to use the existing optical fibre already laid to sense for small changes in the environment, for instance, as early warning systems for earthquakes. The research shows that conventional fibre can also be used to tell if soil is degrading, either from lack of moisture or some physical shift in structure (weakness or movement). It is an immediately useful tool for agriculture, building on many decades of research.

    The diverse range of topics in the collection shows how creative researchers on the continent are in using limited resources for maximum impact. The high orientation towards applications is probably also a sign that African governments want their scientists to work on solutions to real problems rather than purely academic questions. A case in point is South Africa, which has a funded national strategy (SA QuTI) to turn quantum science into quantum technology and train the workforce for a new economy.

    Towards a brighter future

    For young science students wishing to enter the field, the opportunities are endless. While photonics has no discipline boundaries, most students enter through the fields of physics, engineering, chemistry or the life sciences. Its power lies in the combination of skills, blending theoretical, computational and experimental, that are brought to bear on problems. At a typical photonics conference there are likely to be many more industry participants than academics. That’s a testament to its universal impact in new technologies, and the employment opportunities for students.

    The last century was based on electronics and controlling electrons. This century will be dominated by photonics, controlling photons.

    Professor Zouheir Sekkat of University Mohamed V, Rabat, and director of the Pole of Optics and Photonics within MAScIR of University Mohamed VI Polytechnic Benguerir, Morocco, contributed to this article.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Light is the science of the future – the Africans using it to solve local challenges – https://theconversation.com/light-is-the-science-of-the-future-the-africans-using-it-to-solve-local-challenges-256031

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Leeds welcomes the announcement that more Civil Service roles will be moved to the city

    Source: City of Leeds

    Councillor James Lewis, leader of Leeds City Council, said:

    “We welcome the Government’s continued recognition of Leeds as a key hub for Civil Service roles. With over 14,000 civil servants already based in Leeds, this announcement builds on our role as a major centre for government outside London.

    “Relocating more roles will bring decision-making closer to the communities it serves, support the creation of good jobs, and provide long-term whole career opportunities including for our talented apprentices, graduates and professionals.

    “The Leeds Health and Social Care Hub, which brings together the Department of Health and Social Care, NHS, local government, universities and other partners exemplifies how central government can work hand-in-hand with local delivery organisations to improve outcomes for patients and residents.

    “This move adds to the momentum we’re already seeing in Leeds as a leading financial centre, with major organisations like the Financial Conduct Authority, the Bank of England and the National Wealth Fund choosing to locate roles here – reinforcing the city’s growing national importance as a centre for public service and economic opportunity.”

    MIL OSI United Kingdom –

  • MIL-OSI Africa: African Development Bank and Islamic Development Bank Forge Strategic Partnership to Address Fragility and Build Resilience in Africa

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

    ABIDJAN, Ivory Coast, May 14, 2025/APO Group/ —

    The African Development Bank (www.AfDB.org) and the Islamic Development Bank (IsDB) have reinforced their strategic partnership to enhance collective efforts in addressing fragility and building resilience across Africa. This commitment follows a high-level technical exchange held from 22-23 April at the Bank headquarters in Abidjan.

    The two-day mission brought together senior officials from both institutions to align approaches, share best practices, and strengthen collaboration to address complex challenges– particularly in transition states or experiencing fragility. This meeting builds on previous engagements between the two development institutions, including a 2019 Civil Society deep dive facilitated by the African Development Bank’s Civil Society Division, where key areas for joint action were initially identified.

    “This strategic alliance with IsDB reinforces our shared vision of addressing complex challenges in transition states through tailored, context-specific approaches,” said Yero Baldeh, Director of the Transition States Coordination Office at the African Development Bank. “By aligning our methodologies and leveraging our complementary strengths, we can deliver more sustainable solutions in places where development needs are most acute.”

    The IsDB delegation was led by Ahmed Berthe, Lead NGO and Civil Society Specialist, and included Esra Sayhi and Abass Kassim, both Senior Fragility and Resilience Specialists.

    “Our institutions serve many of the same member countries facing similar challenges,” noted Berthe. “What has impressed us most is the African Development Bank’s shift toward anticipatory action and prevention rather than simply responding to crises. This partnership creates a framework for maximizing our collective impact through coordinated investments, shared knowledge, and aligned strategic priorities.”

    The exchange spotlighted the African Development Bank’s Transition Support Facility (TSF), which committed more than $610 million to projects in fragile contexts in 2024. Discussions explored how the TSF’s approach could complement IsDB’s financing tools and create stronger synergies in countries where both institutions operate.

    Climate security emerged as a key theme, with both partners recognizing the role of environmental challenges exacerbating fragility, particularly in vulnerable regions such as the Sahel and the Horn of Africa. The partnership will help develop integrated approaches that address immediate needs and build long-term resilience for both institutions.  

    The exchange also explored ways to harmonize assessment methodologies, coordinate financial instruments, and implement integrated approaches to climate security, with both institutions agreeing to establish a joint technical working group to operationalize the partnership.

    “In line with our 2022-2026 Strategy for Addressing Fragility and Building Resilience in Africa, this partnership reflects the Bank’s strategic emphasis on building alliances that amplify our development impact,” said Ozong Agborsangaya-Fiteu, Chief Operations Officer at RDTS. “By combining our institutional strengths with IsDB, we’re creating a more powerful platform for advancing resilience where it’s needed most.”

    The partnership includes a structured implementation framework scheduled for 2025-2026, in line with the duration of both institutions’ strategies for fragility and resilience. A joint technical working group will operationalize the partnership, ensuring that concrete actions follow this strategic alignment.

    This strategic collaboration advances the African Development Bank’s approach to staying engaged in fragile contexts, focusing on prevention rather than crisis response, and building strategic partnerships across the humanitarian-development-peace nexus—all key principles of its fragility and resilience strategy.

    MIL OSI Africa –

  • MIL-OSI: Bitget Wallet Showcases Real-World Utility as Platinum Sponsor of Blockchain Futurist Conference

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 14, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial Web3 wallet, will take the spotlight as a Platinum Sponsor at the Blockchain Futurist Conference, North America’s flagship crypto and blockchain event, taking place on 13 May 2025. With a full lineup of programming and community activations, Bitget Wallet’s presence signals continued investment in ecosystem development, real-world utility, and inclusive Web3 innovation.

    The event marks Bitget Wallet’s latest move in strengthening its North American footprint, bringing its growing product suite and ecosystem to one of the most influential stages in the industry. At 11:00 AM, Bitget COO Vugar Usi Zade took the stage for a featured session titled “Striking the Balance: UX vs Security in Crypto Exchanges”, where he will address one of the most critical challenges in crypto platform design.

    “Our goal is to make Web3 accessible and practical for everyday users,” said Alvin Kan, COO of Bitget Wallet. “Being part of this year’s conference is not just about visibility, but about connecting with builders and users shaping the future of crypto. Whether it’s through on-chain tools, ecosystem support, or real-world use cases. Bitget Wallet is committed to delivering real utility across the crypto experience.” The appearance follows the launch of “Shop with Crypto,” a new in-app marketplace that enables users to spend cryptocurrencies directly on goods and services within the wallet, including gaming, travel, gift cards and more.

    As part of its broader commitment to community-led change, Bitget Wallet’s global initiative Blockchain4Her also sponsored the ETHWomen Happy Hour, happening from 12:00 PM to 2:00 PM at the ETHWomen Stage & Gallery Room during the conference. Designed to foster authentic conversations and connections, the event offers a welcoming space for women in Web3 to network, share experiences, and build meaningful relationships. Attendees will receive limited-edition Blockchain4Her pins as part of a special charity activation — with Bitget Wallet donating $10 to a local women’s charity for every pin worn.

    Later that evening, Bitget Wallet hosted Bitget Mixer Night at the iconic Old Toronto Stock Exchange, one of the most anticipated side events of the crypto week. Set in a venue where traditional finance meets decentralized innovation, the exclusive mixer will bring together top minds in crypto for an evening of cocktails, canapés, and conversation. Guests will get a closer look at the latest developments from Bitget Wallet while enjoying a high-energy environment designed for discovery and networking.

    From the main stage to intimate side events, Bitget Wallet’s participation reflects a growing focus on community impact, utility-driven innovation, and inclusive growth across the Web3 ecosystem.

    About Bitget Wallet

    Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple, seamless and secure for everyone. With over 60 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, a DApp browser, and crypto payment solutions. Supporting 130+ blockchains, 20,000+ DApps, and a million tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6928899a-bd2d-4fec-8f64-aa390ffadbce

    The MIL Network –

  • MIL-OSI: MicroAlgo Inc. Announces Research on Quantum Information Recursive Optimization (QIRO) Algorithm, for Combinatorial Optimization Problems to Expand and Solve New Ideas

    Source: GlobeNewswire (MIL-OSI)

    Shenzhen, May 14, 2025 (GLOBE NEWSWIRE) — MicroAlgo Inc. Announces Research on Quantum Information Recursive Optimization (QIRO) Algorithm, for Combinatorial Optimization Problems to Expand and Solve New Ideas

    Shenzhen, May. 14, 2025––MicroAlgo Inc. (the “Company” or “MicroAlgo”) (NASDAQ: MLGO), today announced the research of the Quantum Information Recursive Optimization (QIRO) algorithm, which aims to provide a new approach to combinatorial optimization problems by leveraging the power of quantum computing. The Quantum Information Recursive Optimization (QIRO) algorithm is an optimization algorithm based on quantum computers, designed to tackle complex combinatorial optimization problems. This algorithm combines the concepts of quantum computing and recursive algorithms, utilizing the parallel computing capabilities of quantum computers along with the properties of quantum state superposition and interference to rapidly find optimal or near-optimal solutions within the search space. Recursive algorithms solve problems by repeatedly breaking them down into similar subproblems, while quantum computing exploits the characteristics of qubits and quantum states to achieve exponential acceleration. The QIRO algorithm integrates these two approaches by recursively invoking the quantum optimization process, progressively reducing the problem size until the optimal solution is found.
    Problem Modeling: the first step involves modeling the combinatorial optimization problem by clearly defining the objective function, constraints, and candidate elements. This step forms the foundation of the algorithm and is a prerequisite for the subsequent stages.
    Quantum State Initialization: in a quantum computer, quantum states are initialized through quantum gate operations. Due to the superposition property of quantum states, the quantum computer can process multiple computational paths simultaneously, thereby enabling parallel computation.
    Recursive Invocation of the Quantum Optimization Process: the core of the QIRO algorithm lies in its recursive invocation of the quantum optimization process. In each recursion, the quantum state is evolved using quantum gate operations, leveraging quantum interference to search for the optimal solution within the search space. Depending on the problem’s size and complexity, the depth and number of recursive calls are set to ensure that the algorithm can find an optimal solution within a reasonable time frame.
    Measurement and Result Extraction: when the recursion reaches its boundary conditions, quantum measurement is performed to extract the optimal or near-optimal solution. The measurement collapses the quantum state into a definite state, from which the solution to the problem can be obtained.
    Result Verification and Optimization: the extracted solution is then verified and further optimized. By comparing the objective function values of different solutions, the optimal one is identified. Additionally, according to the actual needs of the problem, the solution can be further adjusted and refined to meet the problem’s specific constraints and objective function.
    The Quantum Information Recursive Optimization (QIRO) algorithm developed by MicroAlgo demonstrates significant technical advantages in solving combinatorial optimization problems. By fully leveraging the parallelism and interference principles of quantum computing, this algorithm achieves exponential improvements in computational efficiency, enabling it to handle large-scale and highly complex optimization problems in a short time. Compared to traditional algorithms, the QIRO algorithm possesses stronger global search capabilities, effectively avoiding local optima and instead identifying global or near-global optimal solutions. Moreover, the QIRO algorithm is highly flexible in design and can be tailored and optimized to meet the specific requirements of different problems, ensuring its effectiveness and accuracy across various application scenarios. At the same time, the algorithm exhibits a degree of robustness, allowing it to mitigate the impact of noise and errors on computational outcomes, thereby enhancing reliability and stability. These technical strengths position the QIRO algorithm as a powerful tool with broad application prospects and significant development potential in areas such as logistics and distribution, financial investment, artificial intelligence, and scientific research.
    In terms of practical applications, the QIRO algorithm has already shown wide-ranging potential. It holds great significance for real-world scenarios requiring combinatorial optimization, such as resource allocation and network planning. For instance, in the field of logistics and transportation, tasks like planning optimal delivery routes and allocating cargo resources often involve complex combinatorial optimization. The QIRO algorithm can assist enterprises in identifying more efficient and cost-effective solutions. Additionally, in graph theory-related problems—such as finding large independent sets—the deployment of the QIRO algorithm on neutral atom quantum processors can enable efficient search operations. This supports efforts to study graph structures and analyze network characteristics, further proving the algorithm’s practical value across different quantum computing platforms and its capacity to advance research in related academic fields.
    Looking ahead, MicroAlgo’s Quantum Information Recursive Optimization (QIRO) algorithm holds immense growth potential. As quantum technology continues to progress, the quality and accessibility of quantum resources will steadily improve, providing greater support for the QIRO algorithm to tackle even more complex and large-scale combinatorial optimization problems. Furthermore, the QIRO algorithm may serve as a model for the development of additional hybrid quantum-classical algorithms, expanding the scope of quantum computing applications across various industries. This could offer new hope for solving more challenging real-world optimization problems, making QIRO a vital technological force in future scientific and technological development and a key driver of progress across multiple domains.

    About MicroAlgo Inc.

    MicroAlgo Inc. (the “MicroAlgo”), a Cayman Islands exempted company, is dedicated to the development and application of bespoke central processing algorithms. MicroAlgo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of MicroAlgo’s services includes algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. MicroAlgo’s ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for MicroAlgo’s long-term development.

    Forward-Looking Statements

    This press release contains statements that may constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of MicroAlgo, including those set forth in the Risk Factors section of MicroAlgo’s periodic reports on Forms 10-K and 8-K filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, MicroAlgo’s expectations with respect to future performance and anticipated financial impacts of the business transaction.

    MicroAlgo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as may be required by law.

    Contact

    MicroAlgo Inc.

    Investor Relations

    Email: ir@microalgor.com

    The MIL Network –

  • MIL-OSI: Best Debt Relief Programs for 2025 to Help You Get Out of Debt in USA

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, May 14, 2025 (GLOBE NEWSWIRE) — Payday Ventures, a leading provider of financial solutions in the United States, is proud to introduce new and improved Debt Relief Programs for 2025 through its trusted brand, Viva Debt Help. As more Americans struggle with rising debt, limited savings, and high-interest payments, Viva Debt Help aims to simplify access to effective debt relief solutions. Whether you’re exploring debt consolidation options, need fast debt help, or want to learn if National Debt Relief is legit, this platform connects you with some of the best debt relief companies in the USA.

    Click Here to Get Debt Relief Help >>

    What Is a Debt Relief Program?

    A debt relief program helps reduce or eliminate unsecured debts like credit cards, personal loans, or medical bills. It may include debt consolidation, lower payments, or negotiating with creditors. These programs offer fast debt help if you’re struggling with high-interest debt and want to regain control in 2025.

    Click Here to Get Debt Relief Help >>

    Why Choose US Debt Relief in 2025?

    In 2025, many Americans are under serious financial stress from inflation, job loss, or sudden expenses. As the US national debt rises, so does personal and consumer debt. If you’re missing payments or your minimum payments aren’t helping, it’s time to explore trusted debt relief programs to get the debt help you need.

    Viva Debt Help – One of the Best Debt Relief Program in 2025

    Looking for fast, reliable debt help in the USA? Viva Debt Help is one of the best debt relief options working to match individuals with trusted debt specialists. Here’s why they stand out:

    Click Here to Get Debt Relief Help >>

    • Free online form takes just minutes
    • Get referred to FCA-approved debt solution providers
    • Custom plans including debt consolidation options, settlements, or relief orders
    • Potential to write off debt if eligible
    • No obligation to proceed

    Viva Debt Help doesn’t provide advice directly they connect you with legitimate advisors who are licensed to offer debt relief.

    Click Here to Get Debt Relief Help >>

    Is National Debt Relief Legit?

    Yes, it’s a real company. But it’s always wise to compare your options. Platforms like Viva Debt Help connect you with trusted advisors who review your debt and recommend the best debt relief program based on your needs.

    What Is Covered With a Debt Relief Program?

    Most debt relief programs cover unsecured debts these are debts not tied to any assets. Common examples include:

    • Credit card debt
    • Personal loans
    • Medical bills
    • Payday loans
    • Utility bills
    • Store cards

    Some programs may also help with debt consolidation options or negotiating lower payments.

    Name: Mukesh Bhardwaj
    Email: mukesh@paydayventures.com

    Disclaimer: This announcement contains general information about Payday Ventures and its debt support services through Viva Debt Help. It is not intended to be financial advice. Services are available to U.S. residents only.

    The MIL Network –

  • MIL-OSI Russia: IMF Reaches Staff-Level Agreement on the Combined Third and Fourth Reviews of Bangladesh’s Extended Credit Facility, Extended Fund Facility, and Resilience and Sustainability Facility Arrangements

    Source: IMF – News in Russian

    May 14, 2025

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

    • IMF staff and the Bangladesh authorities have reached staff-level agreement on the policies needed to complete the combined third and fourth reviews of the authorities’ reform program supported by the IMF’s Extended Credit Facility, Extended Fund Facility, and Resilience and Sustainability Facility. The staff-level agreement is subject to approval by the IMF Executive Board, contingent on the completion of prior actions.
    • The Bangladeshi economy remains under pressure from ongoing challenges and rising external financing requirements. As announced in December 2024, the authorities have requested an augmentation of IMF support of about US$760 million to help preserve macroeconomic stability and enhance the country’s resilience to external shocks.
    • The authorities reiterated their commitment to the objectives of the reform program including fiscal reforms to address the emerging external financing gap, calibrating monetary policy to bring down inflation, and fully implementing exchange rate reforms to enhance flexibility. They have also pledged to foster a sound and competitive financial sector and are advancing their climate agenda to support sustainable, inclusive, and green growth.

    Washington, D.C.:  Following constructive discussions with Bangladesh authorities in Dhaka, continued engagement during the International Monetary Fund (IMF) and World Bank Spring Meetings in Washington, D.C., and subsequent virtual follow-up discussions, Mr. Papageorgiou, the IMF Mission Chief for Bangladesh, issued the following statement:

    “IMF staff and the Bangladesh authorities have reached a staff-level agreement on the policies needed to complete the combined third and fourth reviews under the Extended Credit Facility (ECF), Extended Fund Facility (EFF), and Resilience and Sustainability Facility (RSF). The staff-level agreement is subject to approval by the IMF Executive Board and is contingent on the completion of prior actions related to tax revenue mobilization and full implementation of exchange rate reforms.

    “Amid significant macroeconomic challenges, the authorities requested an augmentation of SDR 567.2 million (approximately US$762 million) in IMF financial support to Bangladesh under the ECF and EFF arrangements. This increase would bring the total financial assistance under the ECF and EFF arrangements to SDR 3,035.65 million (about US$4.1 billion), alongside concurrent RSF arrangements of SDR 1 billion (about US$1.3 billion). Upon completion of the combined third and fourth reviews, SDR 983.8 million (about US$1.3 billion) will be made available, comprising SDR 650.5 million (about US$874 million) under the ECF and EFF and SDR 333.3 million (about US$448 million) under the RSF.

    “Impacted by disruptions from the popular uprising, real GDP growth slowed to 3.3 percent year-on-year (y-o-y) in the first half of FY25; however, it is projected to rebound in the second half reaching 3.8 percent for the full fiscal year. Inflation, which has approached double digits, has begun to decline and is projected to be around 8 ½ percent (y-o-y) by end of FY25. Nonetheless, domestic factors such as stress in the banking sector and elevated global uncertainty tilt risks to the downside.

    “To address the emerging external financing gap and support a continued decline in inflation, near-term policy tightening is essential. Fiscal consolidation should focus on the prompt implementation of additional revenue measures—such as streamlining of tax exemptions—while containing non-essential expenditures. Alongside monetary tightening, enhanced exchange rate flexibility and reinforced foreign exchange reserve buffers will bolster the economy’s resilience to external shocks. In this regard, steadfast implementation of the new exchange rate regime will remain critical.

    “Bangladesh’s low tax-to-GDP ratio underscores the urgent need for tax reforms to build a fairer, more transparent, and simpler system while sustainably boosting revenues. Key priorities include streamlining exemptions, enhancing compliance, and delineating tax policy from administration. In parallel, a comprehensive approach is required to rein in subsidy expenditures in the electricity sector. Increased revenues will also provide more fiscal resources to support the most vulnerable. 

    “A carefully designed strategy for dealing with weak banks is essential to ensuring stability. Swift action is needed to operationalize new legal frameworks that facilitate orderly bank restructuring while safeguarding small depositors. Robust asset quality reviews for all large and systemic banks, bank restructuring aimed at forward-looking viability, strengthened risk-based supervision, and enhanced governance and transparency will be key to rebuilding trust and supporting the sector’s soundness. At the same time, institutional reforms to bolster the independence and governance of Bangladesh Bank will be essential for ensuring long-term macroeconomic and financial stability and for the effective implementation of broader financial sector reforms.

    “Strengthening governance and promoting greater transparency are essential to improving the business environment, attracting foreign direct investment, and broadening the export base beyond the ready-made garment sector.

    “Enhancing resilience to climate change is crucial for mitigating macroeconomic and fiscal risks. Investing in institutional capacity and improving the efficiency of public spending will support progress toward climate objectives. The government should prioritize climate-responsive fiscal reforms and channel investments into sustainable, climate-resilient infrastructure. In addition, effective management of climate-related risks will help safeguard financial sector stability.

    “The team thanks the authorities for the productive discussions and excellent collaboration.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

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

    https://www.imf.org/en/News/Articles/2025/05/14/pr25145-bangladesh-imf-reaches-sla-on-combined-3rd-and-4th-reviews-ecf-eff-and-rsf-arrangements

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Change needed at sheltered plus schemes say councillors

    Source: City of Canterbury

    Home  »  Latest News   »   Change needed at sheltered plus schemes say councillors

    Change is desperately needed at Canterbury City Council’s Sheltered Plus housing schemes to save it and its tenants money and boost the quality of people’s homes. 

    That the is the conclusion of councillors from all political parties who took part in the Older Persons’ Accommodation Working Group after carefully examining the evidence. 

    Its report will be discussed by the Overview Committee at its meeting on 22 May. 

    The working group’s report says: “Sheltered Plus was put in place in 2018 with a large financial subsidy from the Housing Revenue Account (HRA) and a guarantee that it would remain unaltered for two years. 

    “The council has honoured that commitment and more. Six years have passed and the environment in which the council’s housing operates has changed dramatically and the status quo is not financially sustainable.” 

    The HRA is the dedicated account the council uses to pay for council housing and which tenants pay their rent into. 

    The report goes on: “The buildings are ageing and require significant capital investment for repairs, maintenance and modernisation. 

    “Many are dated with limited space [for tenants], no Wi-Fi or electric vehicle charging points.  

    “Society has changed dramatically since the schemes were designed and they no longer meet the needs or aspirations of many of today’s over-60s, which is reflected in limited demand.   

    “However, housing need in general is increasing and the council must make the best use of its scarce supply of affordable homes for the benefit of local households of all ages that desperately need a home. 

    “This review has conducted extensive research and the findings are clear.   

    “The full cost of the Sheltered Plus service is unaffordable to many because key elements of the service, such as night reassurance cover and the laundry service do not qualify for Housing Benefit, as they are personal care and not related to the provision of accommodation.   

    “The unfunded costs have been met by the HRA, which is not what it is intended for and, with the other financial pressures on the HRA, the situation is unsustainable. 

    “If the council is to survive as a social landlord, this hole in the finances must be addressed and services must adapt to changes in society to ensure they remain relevant for current and future generations.” 

    The working group recommendations include: 

    • standardising the service in sheltered housing and Sheltered Plus to provide a consistent service across the whole sheltered housing portfolio including removing the laundry service and stopping the provision of night reassurance cover 
    • reducing the number of Independent Living Managers 
    • improving the support provided by the Lifeline service 
    • expanding provision, including telecare and telehealth 
    • installing modern CCTV equipment, monitored by the council’s Central Control room 

    In its report, the working group recognises the current Sheltered Plus arrangements give tenants and their families peace of mind and make them feel secure. 

    It wants to listen closely to their views and concerns so we can take these fully into account before a decision is taken. 

    The same applies to those council staff members that would be affected. 

    The working group is recommending a comprehensive 12-week consultation.  

    This will include personal one-to-one meetings with tenants and their families as well as gathering the views of the Resident Engagement Panel and Independent Living Forum which represent tenants and meetings with key stakeholders. 

    The working group says each tenant would need a personalised support plan if the transition were to go ahead so residents are able to be carefully helped into the new arrangements. 

    The current Sheltered Plus service is unique and not found anywhere else in Kent.  

    It is provided at 127 properties across four schemes: 

    • Lang Court in Whitstable  
    • Cranmer House in Canterbury  
    • Collard House in Canterbury  
    • Whitgift Court in Canterbury  

    The service was designed through consultation with tenants and their families after Kent County Council withdrew its Supporting People Grant in March 2018. 

    They voted to keep and pay for services beyond standard sheltered housing including: 

    • an on-site, non-residential Independent Living Manager during weekday office hours 
    • a supported laundry service during weekdays because the kitchens of individual flats are too small to install a domestic washing machine, and tenants sometimes find the controls of the commercial-style machines in the communal laundry too heavy to operate 
    • on-call night reassurance service, seven nights a week, in case of emergency 
    • signposting to taking up activities, training, work or engaging with the community   
    • advice about accessing health care and social care.   

    At Whitgift Court and Lang Court there is a dedicated member of staff, whereas Collard House and Cranmer House share a member of staff and pay commensurately less.  

    The night reassurance service does not provide a hands-on response in an emergency but contacts the relevant service or family member.  

    The full cost of the Sheltered Plus service is too expensive for most tenants and a commitment was given by the council to subsidise the service for two years before it was reviewed, with the deficit underwritten by the HRA. 

    Both sheltered housing and Sheltered Plus are supported by the council’s Lifeline service which enables tenants to raise an alarm in an emergency. 

    The Overview Committee will meet at the Guildhall, St Peter’s Place, at 7pm on Thursday 22 May. 

    You can view the agenda and the working group’s full report here. 

    Published: 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: IMF Executive Board Concludes 2025 Discussions on Common Policies of Member Countries of the West African Economic and Monetary Union

    Source: IMF – News in Russian

    May 6, 2025

    • Economic growth continues to be strong in the WAEMU. Inflation has fallen back to its target range, and recent improvements in regional external imbalances are supporting a strong recovery in reserves.
    • The Council of Ministers has agreed to submit for approval by Heads of State a proposal by the WAEMU Commission for a revised Convergence Pact maintaining the previous fiscal deficit and public debt ceilings of 3 and 70 percent of GDP, respectively.
    • Rapid adoption of this pact would signal a stronger commitment to debt sustainability and help guide sound fiscal policies. The WAEMU’s institutions should also continue to promote regional integration.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the annual discussions on common policies of member countries of the West African Economic and Monetary Union (WAEMU)[1]. The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    Economic growth continues to be strong in the WAEMU, with heterogeneity across countries, while inflation has fallen. Economic growth rose above 6 percent in 2024, near the average of the past decade, although gaps in per capita income among member countries have continued to widen due to significant variations in economic growth. After rising above target for much 2024, inflation has also fallen back within its target range since November 2024, due to easing regional food price inflation and an appropriately tight monetary policy. The banking system remains resilient, although it maintains large exposures to regional sovereigns.

    Recent progress in reducing the WAEMU’s external imbalances, albeit with notable divergence among members, is supporting a strong recovery in reserves. After widening in 2021-2023, the WAEMU’s current account deficit narrowed significantly in 2024. The Central Bank of West African States’ (BCEAO) response to external reserves pressures has also been broadly appropriate, by tightening monetary policy via raising rates and containing the quantities of liquidity injected into the regional banking system. Reserves rebounded in late 2024 and early 2025, and are back above minimum adequate levels due mainly to windfall revenues from the annual cocoa harvest, high commodity prices, several IMF disbursements, and exports of new hydrocarbon resources in Niger and Senegal. The WAEMU’s external position is assessed to have been moderately weaker than fundamentals and desirable policy settings in 2024.

    Public debt ratios have increased significantly and heterogeneously in recent years due to large fiscal deficits and stock-flow adjustments. Ongoing progress in union-wide fiscal consolidation is welcome, although it is proceeding at a slower pace than anticipated mainly because of large data revisions in Senegal. Public debt continued to increase in 2024 beyond the level projected during the previous discussions on common policies, with considerable variation across the WAEMU (and particularly high debt in Senegal). Higher debt issuances are leading to heavier reliance on financing on the regional market, which has limited absorptive capacity and relatively high costs, and could pose a risk to external reserves.

     

    Executive Board Assessment[3]

    Executive Directors agreed with the thrust of the staff appraisal. They welcomed that the WAEMU is benefitting from strong growth, inflation within the target range, and progress in reducing fiscal and external imbalances, while also noting the significant divergence within the region. Highlighting that the region remains vulnerable to a wide range of shocks, Directors stressed the importance of prudent policies to ensure macroeconomic and financial stability and structural reforms to foster inclusive growth. They looked forward to the Fund’s continued support through tailored policy advice and financial and capacity development assistance.

    Directors stressed the importance of a commitment to debt sustainability, grounded in progress towards fiscal consolidation, measures to contain debt‑creating stock‑flow adjustments, and close monitoring of regional financing capacity. In that context, they commended the proposed reintroduction of the WAEMU Convergence Pact with the previous fiscal deficit and debt ceilings and called for its rapid adoption with a well‑designed escape clause, a correction mechanism, and credible enforcement. Fiscal adjustment should be driven by revenue mobilization to protect priority spending. Directors also stressed the importance of transparent and accurate reporting of fiscal data and enhanced debt transparency.

    Directors welcomed BCEAO’s tight monetary stance which helped bring inflation back to the target range and support reserves. Directors agreed that monetary policy should continue to be closely calibrated to external buffers and inflation developments, and that a cautious stance remains appropriate until there is a sustained recovery in reserve adequacy.

    Directors welcomed the resilience of the financial system but noted that the sovereign‑bank nexus continues to pose risks to financial stability. They encouraged the introduction of macroprudential regulatory measures to help restrain sovereign exposures, and capital surcharges to manage concentration risk. Directors stressed the importance of closely monitoring bank soundness indicators, addressing the remaining FSAP recommendations to strengthen financial stability and deepening, and taking the necessary additional steps to facilitate the removal of WAEMU members currently on the FATF grey list.

    Directors agreed that prosperity in the WAEMU will depend on progress on political cohesion, economic integration, and strengthening the regional institutional framework and infrastructure. A planned stabilization fund to support members impacted by idiosyncratic shocks could demonstrate regional solidarity, but contingent liability risks through leveraging should be avoided. Directors welcomed progress on the new fast payment system, which would promote efficiency, inclusion, and regional integration. Policies to diversify the economy and strengthen resilience would also be important.

    The views expressed by Executive Directors today will form part of the Article IV consultations with individual member‑countries that take place until the next Board discussion of WAEMU common policies. It is expected that the next regional discussions with the WAEMU authorities will be held on the standard 12‑month cycle.

    Table 1. WAEMU: Selected Economic and Social Indicators, 2021–29

    		    
                               

    Social Indicators

    		  
     
                               

    GDP

    		      

    Poverty (2021, latest available)

    		            

    Nominal GDP (2024, millions of US Dollars)

    219,784

    		    

    Headcount ratio at $1.90 a day (2011 PPP, percent of population)

    23.1

    		    

    GDP per capita (2024, US Dollars)

    1,447

    		    

    Undernourishment (percent of population)

    		    

    12.5

    		    
                               

    Population characteristics

    		      

    Inequality (2021, latest available)

    		            

    Total (2023, millions)

    145.3

    		    

    Income share held by highest 10 percent of population

    		  

    28.4

    		    

    Urban population (2023, percent of total)

    40.6

    		    

    Income share held by lowest 20 percent of population

    		  

    7.7

    		    

    Life expectancy at birth (2022, years)

    61.1

    		  

    Gini index

    		          

    35.4

    		    
                               
                               

    Economic Indicators

    		      
               
                       
     

    2021

    2022

    		  

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    		    

     

     

     

    Act.

    SM/24/90. 1

    Est.

    Projected

     

     

     

    		    
                               
     

    (Annual Percentage Change)

    		      

    National income and prices

    		                          

      GDP at constant prices 2

    6.2

    5.9

    		  

    5.3

    6.8

    6.3

    6.4

    5.8

    5.9

    6.0

    5.9

    		    

      GDP per capita at constant prices

    3.2

    2.9

    		  

    2.4

    3.8

    3.3

    3.4

    2.8

    2.9

    3.0

    2.9

    		    

      Consumer prices (average)

    3.6

    7.6

    3.7

    3.2

    3.5

    2.9

    2.3

    2.0

    2.0

    2.0

    		  

      Terms of trade

    -6.3

    -12.3

    7.9

    4.2

    12.4

    9.3

    3.6

    -1.3

    -1.0

    -0.7

    		  

      Nominal effective exchange rate

    1.2

    -2.3

    		  

    6.3

    3.5

    …

    …

    …

    …

    …

    …

    		    

      Real effective exchange rate

    1.5

    -3.6

    		  

    3.9

    3.0

    …

    …

    …

    …

    …

    …

    		    
                               
     

    (Percent of GDP)

    		      

    National accounts

    		                          

      Gross national savings

    20.4

    18.8

    		  

    18.8

    22.4

    20.8

    21.7

    23.1

    23.2

    23.4

    23.8

    		    

      Gross domestic investment

    26.5

    28.8

    		  

    28.7

    27.5

    26.9

    26.2

    26.3

    26.7

    27.3

    27.7

    		    

          Of which: public investment

    6.8

    7.8

    		  

    7.7

    8.8

    6.8

    6.7

    7.2

    7.5

    7.8

    8.2

    		    
                               
     

    (Annual changes in percent of beginning-of-period broad money)

    Money and credit

    		                      

       Net foreign assets

    1.7

    -7.9

    		  

    -7.2

    0.5

    6.1

    2.7

    2.1

    3.2

    3.2

    2.2

       Net domestic assets

    16.9

    20.7

    		  

    10.0

    12.6

    3.4

    9.9

    10.3

    9.9

    9.7

    10.2

       Broad money

    18.0

    11.4

    		  

    3.5

    12.4

    8.9

    11.4

    12.4

    12.8

    12.6

    12.1

    Credit to the economy

    8.1

    9.0

    		  

    6.8

    6.7

    2.7

    7.2

    7.0

    6.6

    6.5

    6.3
                           
     

    (Percent of GDP, unless otherwise indicated)

    Government financial operations

    		                      

      Government total revenue, excl. grants

    16.1

    15.8

    		  

    16.5

    17.3

    16.6

    17.3

    17.7

    18.2

    18.5

    18.8

      Government expenditure

    23.9

    24.7

    		  

    23.8

    22.6

    22.4

    22.0

    21.8

    21.9

    22.2

    22.5

      Overall fiscal balance, excl. grants

    -7.8

    -9.0

    		  

    -7.3

    -5.3

    -5.8

    -4.6

    -4.1

    -3.7

    -3.7

    -3.7

      Overall fiscal balance, incl. grants

    -6.3

    -7.8

    		  

    -6.3

    -4.2

    -5.2

    -3.8

    -3.3

    -3.0

    -3.0

    -3.0
                           

    External sector

    		  

      Exports of goods and services 3

    20.0

    19.6

    		  

    17.7

    21.4

    18.8

    21.3

    21.8

    21.4

    20.9

    20.7

      Imports of goods and services 3

    25.9

    29.7

    		  

    27.5

    26.5

    24.6

    24.4

    23.8

    23.4

    23.3

    23.2

      Current account, excl. grants

    -6.6

    -10.7

    		  

    -10.2

    -5.4

    -6.5

    -4.9

    -3.5

    -3.7

    -4.1

    -4.1

      Current account, incl. grants

    -5.9

    -9.8

    		  

    -9.5

    -4.8

    -6.1

    -4.5

    -3.3

    -3.5

    -3.9

    -3.8

      External public debt

    36.3

    37.0

    		  

    38.9

    36.1

    39.9

    37.8

    36.6

    35.5

    33.8

    32.6

      Total public debt

    58.5

    61.5

    		  

    64.0

    59.6

    65.0

    63.4

    61.9

    60.4

    58.8

    57.5
                           

    Broad money

    40.7

    40.8

    		  

    39.1

    40.6

    38.8

    39.4

    41.0

    42.8

    44.6

    46.3
                           
                             

     

    Memorandum items:

    		                        

       Nominal GDP (billions of CFA francs)

        100,963

    112,343

    		  

    121,414

    131,429

    133,227

    145,965

    157,833

    170,313

    183,993

    198,973

    		  

       Nominal GDP per capita (US dollars)

    1,308

    1,259

    		  

    1,356

    1,436

    1,446

    1,508

    1,588

    1,663

    1,744

    1,831

    		  

       CFA franc per US dollars, average

    554.2

    622.4

    		  

    606.5

    606.2

    …

    …

    …

    …

    …

    …

    		  

    Gross international reserves

    		                        

     In months of next year’s imports (of goods and services)

    5.0

    4.1

    		  

    3.5

    3.5

    4.6

    4.7

    4.8

    4.9

    5.1

    5.2

    		  

     In percent of current GDP

    13.9

    10.1

    		  

    7.8

    8.2

    10.1

    10.0

    10.1

    10.3

    10.6

    10.7

    		  

     In percent of the BCEAO’s sight liabilities

    79.7

    63.8

    		  

    56.9

    58.1

    66.9

    67.1

    66.5

    66.0

    66.2

    66.0

    		  

     In millions of US dollars

    24,172

    18,398

    		  

    15,764

    17,872

    21,593

    24,165

    26,254

    28,967

    32,156

    35,185

    		  

      Sources:  IMF, African Department database; World Economic Outlook; World Bank World Development Indicators; IMF staff

    estimates and projections.

    		  

      All projections presented were prepared in April 2025.

    		                                          

    1 Shows data from the IMF Country Report 24/90 issued on March 1, 2024.

    		                          

    2 The acceleration in GDP growth in 2024 is due to the start of production of large hydrocarbon projects in Niger and Senegal.

    		                          

    3 Excluding intraregional trade.

    		                                          
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Julie Ziegler

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

    https://www.imf.org/en/News/Articles/2025/05/06/pr25130-imf-executive-board-concludes-2025-discussions-common-policies-member-countries-waemu

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Hola Prime and Pro Basketball Player Karl-Anthony Towns Team up for ‘Speed is Success’ Campaign, Redefining Prop Trading

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, May 14, 2025 (GLOBE NEWSWIRE) —  Hola Prime, a leading global proprietary trading firm, is proud to announce Basketball Champion, Karl Anthony Towns as its first-ever brand ambassador. This partnership marks a significant moment in Hola Prime’s journey, highlighting its commitment to reshaping modern prop trading around what truly matters – speed, performance, discipline, and fairness.

    The announcement coincides with the launch of Hola Prime’s new brand campaign, ‘Speed is Success’, produced by one of the top agencies. The campaign draws a compelling parallel between elite sports and trading – in both, speed is not just an advantage, but the edge. The cinematic film captures how success depends on reacting swiftly, thinking clearly under pressure, and executing with discipline, whether on the court or in the market.

    “At Hola Prime, we have always believed that trading, at its core, is a performance profession,” said Somesh Kapuria, Founder and CEO of Hola Prime. “It’s not about luck or shortcuts. It’s about building skill, managing risk, staying calm under pressure, and performing when it matters most. Karl-Anthony Towns personifies these values. His career reflects what we encourage in our traders – consistency, resilience, and the courage to keep improving every day. And Hola Prime compliments their skills with a fair and transparent trading environment, and super fast payouts.” Explaining his decision to collaborate with Hola Prime, Karl-Anthony Towns said, “What drew me to Hola Prime is how they’re flipping the script – not just in finance, but in how people see trading,” said Karl-Anthony Towns. “As a pro athlete, I know what it means to bet on yourself, and that’s exactly what Hola Prime is about, so I’m happy to be their first ambassador and to help bring that mindset to the next generation.”

    Hola Prime’s decision to collaborate with an elite athlete reflects its belief that trading, like sports, rewards those who move fast, think fast, and execute fast. It’s a natural extension of its trader-centric approach – creating a platform where individuals thrive through speed, strategy, and discipline.

    With innovations like transparent pricing, under-one-hour payouts, one-on-one mentorship, and clear trading rules, Hola Prime is redefining trading speed from execution to earnings. The ‘Speed is Success’ campaign champions a new era of fair, fast, and performance-driven trading – empowering individuals to thrive through agility, skill, and accountability.

    The partnership with Towns positions Hola Prime as a standout in a saturated market – more than just a platform, it is a movement. With the star power of a professional basketball giant and the soul of a fintech disruptor, Hola Prime is redefining what trading looks like in 2025 and beyond.

    Watch the full video here: https://youtu.be/yE0Mj3BIBhc?si=ie_IEyAYMRbh471N

    About Hola Prime

    Hola Prime is a global proprietary trading firm with offices in the UK, Hong Kong, Cyprus, Dubai, and India. It supports a diverse community of traders across 175+ countries, offering access to over 150 financial instruments across multiple trading platforms. The firm is known for its structured approach to risk management, transparency, and trader-centric operations. Learn more at holaprime.com.

    Social Links

    Instagram: https://www.instagram.com/holaprime_global/

    YouTube: https://www.youtube.com/channel/UCtVEJa1Ml132Be7tnk-DjeQ

    LinkedIn: https://www.linkedin.com/company/hola-prime/?viewAsMember=true

    X: https://x.com/HolaPrimeGlobal

    Discord: https://discord.gg/TJ7TcHPXBf

    Quora: https://www.quora.com/profile/HolaPrime/

    Reddit: https://www.reddit.com/user/HolaPrime/

    Medium: https://medium.com/@social_46267

    Media Contact

    Company: Hola Prime

    Contact: Media Team

    Email: marketing@holaprime.com

    Website: https://holaprime.com/

    The MIL Network –

  • MIL-OSI: AIMS Wins Best Global Football Sponsor at the Forex Sport Awards 2025

    Source: GlobeNewswire (MIL-OSI)

    Malaysia, May 14, 2025 (GLOBE NEWSWIRE) — AIMS Group is proud to announce that it has been awarded the prestigious title of Best Global Football Sponsor at the 2025 Forex Sport Awards.

    AIMS sport award Best global Football sponsor

    This recognition marks a significant milestone for AIMS and underscores the success of its strategic investment in global sports sponsorships. The judging panel unanimously praised AIMS, stating:

    “AIMS has established a strong presence in global football sponsorship. Having previously been the regional partner of Borussia Dortmund, AIMS made the leap to the Premier League with Tottenham Hotspur FC and has conducted a powerful marketing campaign to cement its sponsorship presence at a global level.”

    The award celebrates the impact of AIMS’ football partnerships — from its earlier success with German football giant Borussia Dortmund (BVB) to its current dynamic collaboration with Tottenham Hotspur Football Club, a Premier League powerhouse.

    Competing against some of the most recognized names in the financial services industry and AIMS emerged as the top choice. This achievement highlights the company’s innovative approach to sponsorship and its growing influence in both the financial and sporting worlds.

    “This award is more than a recognition of our efforts — it’s a reflection of the belief and trust our clients, partners, and supporters have in AIMS. We share this win with all of them,” said Aaron Chang, CEO for AIMS Group. “It motivates us to continue pushing boundaries and building meaningful global connections through the power of sport.”

    As AIMS continues its mission to make financial education and trading opportunities accessible to all, this award serves as further validation of its commitment to excellence, innovation, and community impact.

    About AIMS

    AIMS is a globally trusted financial brokerage offering trading services and infrastructure for both institutional and retail clients in over 17 countries. Known for its high-performance platform, low spreads, and client-first approach, AIMS continues to be a key force in shaping the global trading industry.

    Press inquiries

    AIMS
    https://aimsfx.com/
    Benson Low
    media@aimsfx.com

    The MIL Network –

  • MIL-OSI: Transactix Launches New Era in Canadian Payments

    Source: GlobeNewswire (MIL-OSI)

    Toronto, Ontario, Canada – Consensus, May 14, 2025 (GLOBE NEWSWIRE) — Transactix Financial Inc. today introduced a secure, unified payments platform that frees Canadians from the exorbitant fees and inefficiencies that impact the country’s financial well-being. 

    Its Open Value Network™ (“OVN”) is engineered to facilitate the immediate and seamless transfer and conversion of digital value – whether in tokens, points, credits, stablecoins, cryptocurrencies, or fiat currency – at a fraction of the cost Canadians have had to pay.

    “Moving value should be as cheap and effortless as sending a text message,” said Abou Daya, CEO of Calgary-based Transactix. “But Canadians continue to bear costs for transferring funds that are more comparable to snail mail or shipping a parcel than sending an email. This is an outdated paradigm that OVN will disrupt.” 

    Similarity in the price of financial transfers and physical mail delivery in Canada stems from legacy infrastructure, regulatory overhead, and the dominance of a few large financial institutions. These factors have kept costs high, even as digital technology has made near-instant, low-cost communication commonplace. In contrast, the OVN leverages modern, patented technology to eliminate these inefficiencies, making value transfer as inexpensive and immediate as digital messaging.

    A Platform for Growth, Security, and Innovation

    “The launch of the Open Value Network is a testament to Canadian innovation and leadership in blockchain technology,” said Koleya Karringten, Executive Director of the Canada Blockchain Consortium. “By enabling secure, immediate, and low-cost value transfers across a wide range of digital assets, OVN has the potential to empower consumers, drive fintech growth, and strengthen Canada’s economic sovereignty in the rapidly evolving global digital economy.”

    Transactix’s OVN is more than a payment network. It is a secure, developer-friendly ecosystem that:

    • Enables fintechs to build on a cohesive, blockchain native infrastructure, complementing existing legacy payment rails.
    • Empowers consumers and businesses with new, globally competitive services.
    • Advocates for regulatory modernization to foster innovation, reduce costs, and protect Canadian interests amid rising tariffs and global competition.
    • Illustrates to policymakers and regulators on how novel technologies can lower costs and strengthen Canada’s economic resilience.

    National Security and Economic Sovereignty

    The stability of Canada’s economy and the integrity of its currency are inseparable from national security. The rapid proliferation of stablecoins and cryptocurrencies, many issued by foreign entities, presents both opportunities and challenges for Canadian sovereignty and economic governance. As the world accelerates toward digital currencies, the United States is positioning itself as a global leader. Canada must keep pace with a robust digital currency strategy to safeguard its interests and ensure that Canadian businesses and consumers have access to homegrown digital assets.

    About Transactix

    Transactix is enabling individuals and companies to exchange money, cryptocurrencies, loyalty rewards, credits, and more — instantly, securely, for less than the price of a text message — with its revolutionary Open Value Network™ and Stablecoin-as-a-Service offerings. It is establishing a new benchmark for speed, affordability, accessibility with compliance in the digital economy powered by a proven infrastructure already processing over $100 billion (US) in transactions. www.transactix.ca

    For more information about the OVN launch and Ali Abou Daya’s presentation “Moving Value Cheaper Than Text”, visit the Consensus 2025 Toronto agenda.

    Media Kit:
    https://drive.google.com/drive/folders/18B4IACAtyW_-ktNyTxkDSTQvfqjfFXej?usp=drive_link

    The MIL Network –

  • MIL-OSI: New Stablecoin from Transactix Reshaping Canadian Cryptocurrency Landscape

    Source: GlobeNewswire (MIL-OSI)

    Toronto, Ontario, Canada – Consensus, May 14, 2025 (GLOBE NEWSWIRE) — Transactix Financial Inc. today launched a new type of digital currency, linked to the value of the Canadian dollar, that gives businesses, consumers, and financial partners a secure, efficient, and programmable way to make and accept payments and settlements. Called CADX™, this financial innovation is engineered to bring the speed and versatility of blockchain technology to payments. 

    CADX is a Canadian dollar-backed stablecoin – a type of cryptocurrency that mitigates volatility by having a reserve of a sovereign currency, in this case the Canadian dollar, to support the value of the cryptocurrency. CADX is fully backed by $50 million in Canadian assets. It will be delivered to the market using Transactix’s advanced Stablecoin-as-a-Service platform, an innovative infrastructure that has already supported more than $100 billion (US) in global digital transactions.

    “CADX is more than a digital asset—it’s a catalyst for financial innovation in Canada,” said Transactix CEO Ali Abou Daya. “By combining robust asset backing, regulatory compliance and advanced technology, we are empowering Canadians and our partners to participate in the digital economy with extraordinary confidence.”

    Others in the Canadian digital payments system are lauding CADX.

    “The launch of CADX is a meaningful step toward a more competitive digital payments ecosystem in Canada,” said Alex Vronces, Executive Director of Fintechs Canada. “Stablecoins offer a credible alternative to legacy systems. When they’re built to be secure, low-cost, and compliant, they can expand choice and shift power toward users—something our financial system sorely needs.”

    Calgary-based Transactix made the announcement at Consensus 2025, one of the cryptocurrency world’s most prestigious international events. Speakers at the event include Eric Trump, Kevin O’leary, and Robert Hines, the Executive Director of the President’s Council of Advisors for Digital Assets at the White House.

    A New Opportunity for Canadian Finance

    CADX offers a transformative opportunity for Transactix and its ecosystem

    • For Customers: CADX provides faster, lower-cost transactions and the ability to use Canadian dollar stablecoins in a growing range of applications, from payroll to cross-border remittances and decentralized finance.
    • For Partners: Financial institutions, fintechs, businesses, and payment service providers can leverage the Stablecoin-as-a-Service platform to integrate CADX into their offerings, unlocking new revenue streams and innovative financial products.
    • For Transactix: The launch positions Transactix at the forefront of Canadian digital finance, enabling the company to shape the future of programmable money and digital payments infrastructure.

    Transactix Stablecoin-as-a-Service: Patent-Backed Freedom to Operate

    Transactix’s Stablecoin-as-a-Service is underpinned by an unparalleled and formidable Canadian patent portfolio. This intellectual property foundation provides partners who wish to launch their own stablecoin the critical freedom to operate as part of the Transactix service model. By leveraging this robust patent coverage, partners can confidently innovate and deploy new stablecoins within a secure, compliant, and future-ready ecosystem.

    Canada’s Stablecoin Market: Poised for Growth

    Canada stands at a crossroads in stablecoin adoption. While the country has been a global innovator in blockchain technology, regulatory uncertainty has slowed the rollout of CAD-backed stablecoins. Recent regulatory changes have clarified requirements for stablecoin issuers, with fiat-backed stablecoins now being subject to securities regulatory oversight. Despite these challenges, the demand for stablecoins in Canada is rising, driven by the need for faster, more efficient payment solutions and the desire for a payment mechanism that can compete globally.

    About Transactix 

    Transactix is enabling individuals and companies to exchange money, cryptocurrencies, loyalty rewards, credits, and more—instantly, securely, and at a lower cost, often less than the cost of sending a text message. Its revolutionary Open Value Network™ and Stablecoin-as-a-Service are establishing a new benchmark for speed, affordability, and accessibility with compliance in the digital economy powered by a proven infrastructure already processing over $100 billion (US) in transactions. www.transactix.ca.

    Attention Media and Analyst

    Transactix will be holding a media scrum and reception at Consensus 2025 to discuss the CADX launch at 3:30 pm EDT today in Room MR 704. All media, analysts, and social media influencers are invited to attend.

    Media Kit:
    https://drive.google.com/drive/folders/18B4IACAtyW_-ktNyTxkDSTQvfqjfFXej?usp=drive_link

    The MIL Network –

  • MIL-OSI: Crypto Bull Market Heats Up — BexBack Launches No KYC, 100x Leverage & Double Bonus Campaign to Maximize Trader Profits

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, May 14, 2025 (GLOBE NEWSWIRE) — As Bitcoin breaks above $100,000 and Ethereum posts rapid gains, the cryptocurrency market is roaring back into a full-fledged bull run. In response, leading derivatives exchange BexBack has launched a new campaign offering powerful trading incentives to help users seize opportunities during this high-volatility cycle.

    BexBack’s Limited-Time Bull Market Campaign Includes:

    • 100% Deposit Bonus
      Instantly double your trading capital. Bonus funds can be used as margin to open larger positions and absorb volatility.
    • $100 Trading Bonus
      Available to new users who deposit at least 0.01 BTC or 1000 USDT and complete their first trade within 7 days of registration.
    • 100x Leverage on 50+ Crypto Futures
      Trade BTC, ETH, SOL, ADA, XRP, and 50+ major altcoins with up to 100x leverage.
    • No KYC Required
      Register and start trading in seconds using just an email address. BexBack respects user privacy and lowers barriers to entry.
    • Zero Spread, Deep Liquidity, Lightning-Fast Execution
      All trades are executed at the displayed price — no slippage, no spread, no surprises.

    Why Traders Are Choosing BexBack

    • Global access with 24/7 multilingual support
    • Zero deposit fees and generous bonus programs
    • Professional-grade infrastructure, ideal for both beginners and experts
    • Fast onboarding with no identity verification required

    About BexBack

    BexBack is a global cryptocurrency derivatives exchange offering up to 100x leverage on 50+ perpetual contracts. Headquartered in Singapore, the platform serves over 500,000 traders worldwide.

    With operational offices in Hong Kong, Japan, the United States, and the United Kingdom, BexBack combines regulatory integrity with innovative trading tools to provide a secure, fast, and accessible trading experience across regions.

    Take Action Now—Don’t Miss Another Opportunity!

    If you missed the previous crypto bull run, this could be your chance. With BexBack’s 100x leverage and 100% deposit bonus and $50 bonus for new users (complete one trade within one week of registration), you can be a winner in the new bull run.

    Sign up on BexBack now, claim your exclusive bonus and start accumulating more BTC today!

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
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    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e888da51-f612-41b5-9c42-3b3ae7d36997

    https://www.globenewswire.com/NewsRoom/AttachmentNg/97c84753-3fa7-4e83-9c9e-e30b1a6f6112

    https://www.globenewswire.com/NewsRoom/AttachmentNg/84c2c52f-c11b-449d-9911-beb71ac5c416

    https://www.globenewswire.com/NewsRoom/AttachmentNg/0ff9c396-8c98-4627-93a6-a3e7dc9206c3

    The MIL Network –

  • MIL-OSI Economics: NEW REPORT: Clean Energy Contracts with Fortune 500 Companies Surge in 2024 

    Source: American Clean Power Association (ACP)

    Headline: NEW REPORT: Clean Energy Contracts with Fortune 500 Companies Surge in 2024 

    In 2024 alone, the clean energy industry invested nearly $80 billion to deploy nearly 49 GW of new clean energy projects and build 45 manufacturing facilities
    New data shows industry supports 1.4 million American jobs—460,000 directly and nearly a million more in supply chains and supporting industries
    Clean energy power purchase agreements (PPAs) reached record levels in 2024, showing increasing demand for clean energy resources from economic sectors

    WASHINGTON, D.C., May 14, 2025 – The American Clean Power Association (ACP) today released its Clean Power Annual Market Report | 2024. The data from ACP shows an industry critical to the viability of the American economy, supporting 1.4 million American jobs and investing nearly $80 billion last year.  
    The top purchasers of clean energy include Fortune 100 and 500 companies, largely comprised of utilities and major tech companies. In 2024, Amazon, Microsoft, Meta, and Google collectively contracted 11.3 GW of clean power—nearly matching the total clean power capacity installed across Florida, the fifth largest clean power state in the U.S., and showcasing the criticality of clean energy to power the growing data center market. 
    “Clean energy is fueling America’s economy and creating opportunities for American workers and communities all across the country,” said ACP CEO Jason Grumet. “Solar, wind, and battery storage are leading an all of the above energy future powered by affordable, reliable, and secure American resources.”
    Key 2024 Highlights 
    Rapidly Scaling and Deploying:  
    The clean energy industry invested nearly $80 billion to deploy nearly 49 GW of new clean power infrastructure. 
    45 new manufacturing projects came online, representing more than $9 billion dollars of investment in domestic manufacturing. 
    For the first time, wind and utility-scale solar generation exceeded coal output, accounting for nearly 16% of U.S. electricity generation, marking a significant shift in the energy mix.
    Total generation in the interconnection queue at the end of 2023 was 2,367 GW, with over 95% represented by wind, solar, and storage.
    Meeting the Moment of Rising Demand:  
    Building new clean power will be essential to meeting additional demand in the near- and medium-term, as clean energy resources are significantly quicker to deploy than traditional sources.
    The U.S. will need more than 900 GW of renewables and batteries and 60-100 GW of new gas capacity by 2040 to maintain grid reliability.
    Powering the U.S. Economy:  
    The clean energy industry supports 1.4 million Americans with jobs—460,000 directly and nearly a million more in supply chains and communities.   
    Clean power companies have invested more than $600 billion over the past two decades, transforming America’s energy infrastructure and boosting local economies in all 50 states. 
    Power Purchase Agreement (PPA) announcements surged 56%, reflecting strong demand and market confidence. 
    Discover more about American clean power’s historic year in the data-driven webpage. A public version of the 160-page full report is available, with the full report and underlying datasets available exclusively to ACP members.  
    ###   

    MIL OSI Economics –

  • MIL-OSI Economics: Joint study explores feasibility of central bank operations using tokenisation and smart contracts

    Source: Bank for International Settlements

    The Federal Reserve Bank of New York and the Bank for International Settlements (BIS) today published a joint research study that explored if and how central banks could continue to implement monetary policy operations in hypothetical tokenised wholesale financial markets.    

    Project Pine, from the New York Innovation Center at the New York Fed and the Swiss Centre of the BIS Innovation Hub found that central banks could customise and deploy policy implementation tools using programmable smart contracts in a potential future state where commercial banks and other private sector financial institutions have widely adopted tokenisation for wholesale payments and securities settlement.

    The project generated the prototype of a generic monetary policy implementation tokenised toolkit for potential further research and development by central banks across jurisdictions and currencies. The prototype was designed to be technically modifiable for different central banks’ monetary policy frameworks and calibrated to conduct standard or emergency market operations.

    The toolkit prototype was created in consultation with central banks’ financial markets advisors from multiple jurisdictions, who helped outline the project scope and specific design requirements. It is not particular to any currency or jurisdiction. It can fulfil a common set of central bank implementation requirements, including paying interest on reserves, open market operations, and collateral management.

    The toolkit was tested against ten hypothetical scenarios simulating normal market dynamics and stress events. Each scenario was designed using historical data inputs on past market events, such as interest rate tightening and easing cycles, quantitative easing and tightening cycles, and periods of strained market liquidity or broader market disruptions. 

    The prototype successfully responded and instantaneously carried out the intended operation under the varying market conditions, consistent with the central bank’s desired liquidity environment. Project Pine’s findings highlighted areas for further research and analysis related to interoperability and data standardisation. Project Pine aims to contribute to a broad and transparent public dialogue regarding potential applications of new technologies in the financial sector.

    BIS Innovation Hub projects are experimental in nature and aim to explore and deliver public goods to the global central banking community. Project Pine was limited to research and experimentation and should not be interpreted to reflect any policies, directives, or views of the Federal Reserve Bank of New York or the Federal Reserve System.

    About the New York Innovation Center

    The New York Innovation Center (NYIC) at the Federal Reserve Bank of New York bridges the worlds of finance, technology, and innovation. Established in 2021 in partnership with the Bank for International Settlements Innovation Hub, the NYIC generates insights into high-value central bank-related opportunities through research, analysis, and technical experimentation to drive advancements in central banking and enhance the functioning of the global financial system.

    About the BIS Innovation Hub

    The BIS Innovation Hub aims to foster international collaboration on innovative financial technology within the central banking community. It identifies and develops in-depth insights into critical trends in technology affecting central banking, develops public goods for improving the functioning of the global financial system, and serves as a focal point for a network of central bank innovation experts. 

    MIL OSI Economics –

  • MIL-Evening Report: Politics with Michelle Grattan: Andrew Leigh on more productive work in the age of AI

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

    Australia’s productivity performance has stagnated for years, and Treasurer Jim Chalmers has declared addressing this is a second term priority.

    “Productivity” is now an added part of the remit of Assistant Minister Andrew Leigh, along with his responsibility for competition, charities and Treasury matters.

    It’s an area to which Leigh brings some expertise. He is a former professor of economics at the Australian National University and has a PhD in Public Policy from Harvard Kennedy School.

    He joins us to discuss productivity and more.

    On the concept of productivity, Leigh outlines some common misconceptions.

    A lot of people think of productivity as being working longer or working harder, rather than working smarter.

    Really, productivity should be how much you can produce per hour, not how much you can produce per year, because I don’t think any of us feel productive if we’re forced to work at night and the weekend when we don’t want to. Improving the way in which we use technology can be important to that.

    On why it has taken government so long to boost productivity, Leigh says:

    The measures tend to be lagging. And it’s about changing the structure of businesses, and sometimes that takes a while to take effect. So, for example in the computer revolution, you don’t immediately see that showing up in the productivity statistics. Same story for electrification a couple of generations earlier.

    These so-called general purpose technologies take a while before work is revamped around them. So too we can have problems that take a while to embed themselves, and then it can take a while to get out.

    On emerging artificial intelligence technology, Leigh, while aware of the concerns, says there’s great potential:

    I think we’re all concerned about the implications for privacy. I think there are reasons to be concerned about the potential anti-competitive aspects if the AI engines consolidate over coming years. But it’s also very clear that this is a technology with great potential to take away drudge parts of our jobs and allow people to focus on the most stimulating types.

    There are invariably job impacts of any technology that comes along, and artificial intelligence is no different from that. We don’t tend to be very good as economists at forecasting precisely where the jobs of the future will come and where they’ll go, but we do know that it’ll have an impact, and this is potentially as big a general purpose technology as any of the others that we’ve seen in the past.

    As a member of parliament from the Australian Capital Territory, Leigh remains keen that both territories get more representation in the Senate.

    I think the ACT [and] the Northern Territory send representatives of strong calibre to the federal parliament. And having more representation for the territories would be a great thing.

    To have more ACT senators, I think, would be a terrific thing. We saw in the last election a pretty ferocious attack from the conservatives on Canberra, and so having more voices in the federal parliament standing up for the ACT would be great.

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

    – ref. Politics with Michelle Grattan: Andrew Leigh on more productive work in the age of AI – https://theconversation.com/politics-with-michelle-grattan-andrew-leigh-on-more-productive-work-in-the-age-of-ai-256685

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Social platform Stocktwits and other sources of ‘alternative data’ may be hurting financial analysts’ long-term forecasts

    Source: The Conversation – France – By Thierry Foucault, Professeur de Finance, HEC Paris Business School

    Since the beginning of the century, the number of satellites orbiting Earth has increased more than 800%, from less than 1,000 to more than 9,000. This profusion has had a number of strange and disturbing repercussions. One of them is that companies are selling data from satellite images of parking lots to financial analysts. Analysts then use this information to help gauge a store’s foot traffic, compare a retailer to competitors and estimate its revenue.

    This is just one example of the new information, or “alternative data”, that is now available to analysts to help them make their predictions about future stock performance. In the past, analysts would make predictions based on firms’ public financial statements.


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    According to our research, the plethora of new sources of data has improved short-term predictions but worsened long-term analysis, which could have profound consequences.

    Tweets, twits and credit card data

    In a paper on alternative data’s effect on financial forecasting, we counted more than 500 companies that sold alternative data in 2017, a number that ballooned from less than 50 in 1996. Today, the alternative data broker Datarade lists more than 3,000 alternative datasets for sale.

    In addition to satellite images, sources of new information include Google, credit card statistics and social media such as X or Stocktwits, a popular X-like platform where investors share ideas about the market. For instance, Stocktwits users share charts showing the evolution of the price of a given stock (e.g. Apple stock) and explanations of why the evolution predicts a price increase or decrease. Users also mention the launch of a new product by a firm and whether it makes them bullish or bearish about the firm’s stock.

    Using data from the Institutional Brokers’ Estimate System (I/B/E/S) and regression analyses, we measured the quality of 65 million equity analysts’ forecasts from 1983 to 2017 by comparing analysts’ predictions with the actual earnings per share of companies’ stock.

    We found, as others had, that the availability of more data explains why stock analysts have become progressively better at making short-term projections. We went further, however, by asking how this alternative data affected long-term projections. And we found that over the same period that saw a rise in accuracy of short-term projections, there was a drop in validity of long-term forecasts.

    More data, but limited attention

    Because of its nature, alternative data – information about firms in the moment – is useful mostly for short-term forecasts. Longer-term analysis – from one to five years into the future – is a much more important judgment.

    Previous papers have proved the common-sense proposition that analysts have a limited amount of attention. If analysts have a large portfolio of firms to cover, for example, their scattered concentration begins to yield diminishing returns.

    We wanted to know whether the increased accuracy of short-term forecasts and declining accuracy of long-term predictions – which we had observed in our analysis of the I/B/E/S data – was due to a concomitant proliferation of alternative sources for financial information.

    To investigate this proposition, we analyzed all discussions of stocks on Stocktwits that took place between 2009 and 2017. As might be expected, certain stocks like Apple, Google or Walmart generated much more discussion than those of small companies that aren’t even listed on the Nasdaq.

    We conjectured that analysts who followed stocks that were heavily discussed on the platform – and so, who were exposed to a lot of alternative data – would experience a larger decline in the quality of their long-term forecasts than analysts who followed stocks that were little discussed. And after controlling for factors such as firms’ size, years in business and sales growth, that’s exactly what we found.

    We inferred that because analysts had easy access to information for short-term analysis, they directed their energy there, which meant they had less attention for long-term forecasting.

    The broader consequences of poor long-term forecasting

    The consequences of this inundation of alternative data may be profound. When assessing a stock’s value, investors must take into account both short- and long-term forecasts. If the quality of long-term forecasts deteriorates, there is a good chance that stock prices will not accurately reflect a firm’s value.

    Moreover, a firm would like to see the value of its decisions reflected in the price of its stock. But if a firm’s long-term decisions are incorrectly taken into account by analysts, it might be less willing to make investments that will only pay off years away.

    In the mining industry, for instance, it takes time to build a new mine. It’s going to take maybe nine, 10 years for an investment to start producing cash flows. Companies might be less willing to make such investments if, say, their stocks may be undervalued because market participants have less accurate forecasts of these investments’ impacts on firms’ cash flows – the subject of another paper we are working on.

    The example of investment in carbon reduction is even more alarming. That kind of investment also tends to pay off in the long run, when global warming will be an even bigger issue. Firms may have less incentive to make the investment if the worth of that investment is not quickly reflected in their valuation.

    Practical applications

    The results of our research suggest that it might be wise for financial firms to separate teams that research short-term results and those that make long-term forecasts. This would alleviate the problem of one person or team being flooded with data relevant to short-term forecasting and then also expected to research long-term results. Our findings are also noteworthy for investors looking for bargains: though there are downsides to poor long-term forecasting, it could present an opportunity for those able to identify undervalued firms.

    Thierry Foucault a reçu des financements du European Research Council (ERC).

    – ref. Social platform Stocktwits and other sources of ‘alternative data’ may be hurting financial analysts’ long-term forecasts – https://theconversation.com/social-platform-stocktwits-and-other-sources-of-alternative-data-may-be-hurting-financial-analysts-long-term-forecasts-244102

    MIL OSI – Global Reports –

  • MIL-OSI Global: From boomers to Gen Z: How to solve the public sector succession crisis

    Source: The Conversation – Canada – By W. Dominika Wranik, Professor, Faculty of Management, Dalhousie University

    Public servants are the backbone of Canadian government. Canadians expect them to act in the best interest of society, to uphold Canadian democratic institutions, to steward public monies and to deliver programs and services.

    But as retirements surge, how can governments attract young people to work for them? It’s difficult when governments suffer from poor reputations, low public trust and offer working conditions that may not appeal to young people.

    What do young Canadians want from their careers, and what will it take for public service to win them over?

    This issue, among others concerning Canadian public servants, are currently being studied at the Professional Motivations Research Lab at Dalhousie University. The lab is led by the lead author of this piece, Dominika Wranik, whose work focuses on measuring and explaining the motivations of professionals in the public service.

    The lab’s insights shed light on the factors that influence how young people make decisions about whether to work for the public sector.

    Looming labour shortage

    In 1966, there were 7.7 working-age individuals for every senior in Canada. But in 2022, the ratio dropped to 3.4 and is projected to drop further over the next decade.

    A labour shortage will create increased competition for top talent between the public and private sector, an issue for governments as research has shown a growing disinterest among youth in pursuing civil service careers.

    Recruitment to the public service is further complicated by declining perceptions of competence and trust in Canadian public institutions. With studies demonstrating that applicants’ perceptions of an organization’s competence affect their attraction to working there, Canadian governments also run the risk of losing potential applicants who don’t view Canada’s public institutions as being competent or trustworthy.

    These challenges come as young Canadians enter the workforce with more career options than ever before, and different expectations from previous generations.

    Salary not the sole motivator

    Young Canadians are not solely interested in high incomes, but also in workplaces that provide a healthy work/life balance and align with their values.

    Data collected in 2024, for example, shows that 87 per cent of British Columbians between the ages of 18 and 34 prefer employers that are socially and environmentally responsible, with 61 per cent stating they would only work for such companies.

    This means Canadian governments are currently finding themselves in a perilous situation, where rising suspicion about their trustworthiness and competence, paired with growing disinterest in the public sector as a whole, means they’re not positioned well to navigate an impending labour shortage.

    Strengthening their capacity to attract and recruit the next generation of workers is therefore imperative, not only for upholding public institutions, but also for rebuilding trust in government.

    In the effort to resolve this issue and enhance recruitment to the public service, Canadian government officials must pore over existing research into the factors that determine why youth and those just entering the labour market — people between the ages of 13 to 27, known as Gen Z — pursue or refrain from pursing public service jobs.

    Some research suggests the three variables that potentially predict whether a member of Gen Z is inclined to pursue a career in the public sector are:

    Perceptions

    In terms of perceptions of the public sector, a recent study found that when choosing between the public and private sectors, university students in Norway and Poland were most influenced by their views of the public sector.

    The more positive the outlook — for example, that public sector work is considered less bureaucratic and less inefficient — the higher the preference to work in the public sector, and vice versa.

    This finding was echoed by racialized minorities in the United States. A 2022 study found that Black, Asian and Latinx young adults between the ages of 18-36 were largely turned off by government work due to perceptions that they weren’t represented or well-served by their “largely white, male and wealthy” local, state or federal government representatives.

    In Canada, a study led by the Public Policy Forum discovered that perceptions of the nature of government work also had a significant impact on a student’s decision to pursue a career in the public sector. Students who chose to enter the public service cited “opportunities to examine a wide range of complex challenges and help create policy solutions that can have a positive impact on many communities.”

    Motivations

    In terms of having public service motivation (PSM) — which refers to an individual’s inclination to serve the public interest — studies have found that members of Gen Z are more likely to be drawn to the public sector if they are high in PSM.

    Specifically, a study of Gen Z students in criminal justice programs found that those who identified with PSM tenets — such as “meaningful public service is very important to me” and “making a difference in society means more to me than personal achievements” — had a significantly higher likelihood of choosing the public sector over the private sector.

    Similarly, an interdisciplinary sample of undergraduate students with higher levels of PSM — and who therefore identified with the PSM dimensions of self-sacrifice, compassion and commitment to public values — were more likely to have a preference for the public sector.

    Job attributes

    Preferred job attributes also influence the employment choices of members of Gen Z. The aforementioned research on Norwegian and Polish youth and another 2017 study by Canada’s Public Policy Forum (2017) find that when Gen Z students are interested in public sector work, it’s due to the semblance of financial and job security.

    Given the growing disinterest among the Canadian population in pursuing employment in the public sector, new insights about what attracts Gen Z workers to the public sector should be required reading by governments across Canada.



    Read more:
    Public service reflections: Why the role of civil servants must evolve to ensure public trust

    Understanding Gen Z’s misgiving about public sector work will help better position governments to compete with the private sector to recruit the next generation of employees.

    With perceptions of government competence and trustworthiness continuing to fall, it is imperative that Canadian public policymakers take significant steps to engage with Gen Z students and workers to create employment conditions that are attractive and aligned with their values.

    The next generation of government leaders in Canada are currently in high school, college or university classrooms across the country, meaning that research centred in educational institutions is uniquely positioned to uncover valuable regarding how public sector employment is perceived.

    Therefore, government-led engagement that is conducted through town halls, workshops and focus groups can help strengthen trust in government while familiarizing Gen Z students with government careers.

    W. Dominika Wranik receives funding from the Social Sciences and Humanities Research Council. In the past, she has held funding from the Canadian Institutes of Health Research, Mitacs, Research Nova Scotia, and the EU Horizon 2020, as well as short-term funding from several provincial and federal government departments. Dr. Wranik serves as an expert consultant for Canada’s Drug Agency (CDA-AMC).

    Alec Brooks and Payton Nicol do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. From boomers to Gen Z: How to solve the public sector succession crisis – https://theconversation.com/from-boomers-to-gen-z-how-to-solve-the-public-sector-succession-crisis-255077

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: CE: Middle East visit yields fruitful results and elevates Hong Kong’s relations with Qatar and Kuwait to new level (with photos/videos)

    Source: Hong Kong Government special administrative region

         â€‹The Chief Executive, Mr John Lee, today (May 14) led a business delegation comprising representatives from Hong Kong and Mainland enterprises to continue its visit programme to Kuwait. He met with representatives of the Kuwait Direct Investment Promotion Authority (KDIPA) and exchanged views with local political and business leaders. He witnessed the achievement of multiple outcomes of co-operation between government departments, enterprises and organisations of Hong Kong, the Mainland and Kuwait, including the signing of Memoranda of Understanding (MOUs). He also visited a local enterprise.
     
    In the morning, Mr Lee met with the Director General of the KDIPA, Dr Meshaal Jaber Al-Ahmad Al-Sabah, to learn about Kuwait’s strategies and achievements in attracting business and investment. Mr Lee noted that last year, Kuwait was Hong Kong’s sixth-largest trading partner in the Middle East, and both places have significant room for development in trade and business between the two places. Hong Kong will continue to serve as a bridge to assist enterprises in going global and attracting external investment, welcoming Kuwaiti enterprises to leverage Hong Kong’s world-class financing support and professional services to explore international markets.
     
    Mr Lee later attended a business luncheon cohosted by the Hong Kong Economic and Trade Office in Dubai and the Hong Kong Trade Development Council, where he delivered a speech to near 300 local business leaders promoting Hong Kong’s business advantages and development opportunities. He highlighted that the merchandise trade between Hong Kong and the Cooperation Council for the Arab States of the Gulf (GCC) reached nearly US$20 billion last year, an increase of over 53 per cent in the past four years, while Hong Kong’s merchandise trade with Kuwait last year amounted to US$200 million, up more than 20 per cent from the previous year. Hong Kong is an international financial centre and the world’s largest offshore Renminbi business hub. Hong Kong and Mainland enterprises can complement each other’s strengths. Hong Kong will give full play to its role as a “super connector” and “super value-adder” to deepen international exchanges and co-operation. Mr Lee added that he believes the ties and co-operation between Hong Kong and Kuwait will continue to flourish.
     
    At the luncheon, government departments, enterprises, and organisations from Hong Kong, the Mainland, and Kuwait exchanged and announced 24 MOUs and co-operation agreements, covering areas such as economy and trade, investment, financial services, technology, legal co-operation, cargo clearance and flow, aviation, and post-secondary education.
     
    In the afternoon, Mr Lee and the delegation visited Zain Group, a major mobile telecommunications company, to learn about its business in innovative technologies and digital communications, and exchanged views with company representatives on topics such as drones, AI, and smart city development. Mr Lee remarked that Hong Kong is actively developing into an international innovation and technology centre, and he welcomes the company to invest and pursue co-operation opportunities in Hong Kong.
     
    In the evening, Mr Lee will host a dinner for members of the business delegation comprising representatives from Hong Kong and Mainland enterprises to thank them for their active participation in the programme of the past four days and for working together to explore co-operation opportunities for Hong Kong and the Mainland in the Middle East.
     
    Concluding the visit, Mr Lee said that the business delegation comprising representatives from Hong Kong and Mainland enterprises, which he led to visit Qatar and Kuwait, has yielded fruitful results. He mentioned that the Middle East visit successfully made achievements in six areas, namely:

    1. further strengthening the relationship between the Hong Kong Special Administrative Region (HKSAR) Government and the governments of Qatar and Kuwait, and building consensus for collaboration;
    2. reaching a total of 59 MOUs and agreements, laying a diversified foundation;
    3. leveraging Hong Kong’s strengths under the “one country, two systems” principle in connecting the Mainland and the world, deepening international exchanges and co-operation, and demonstrating the synergistic power of the complementary advantages between Hong Kong and the Mainland;
    4. further building relations with the GCC countries to explore greater business opportunities;
    5. deepening mutual understanding and strengthening commercial and trading networks; and
    6. further enhancing cultural exchanges with the GCC countries.

     
    Mr Lee said that Hong Kong has the distinctive advantages of enjoying strong support of the motherland and being closely connected to the world, noting that the Middle East countries are actively diversifying risks and seeking investment opportunities in China and the HKSAR, which aligns with the global economic shift towards the East. The opportunities in Hong Kong are limitless. This Middle East visit has elevated Hong Kong’s relations with Qatar and Kuwait to a new level, bringing more business opportunities to Hong Kong.
     
    Mr Lee will return to Hong Kong tomorrow (May 15).

    MIL OSI Asia Pacific News –

  • MIL-OSI Global: M&S cyberattacks used a little-known but dangerous technique

    Source: The Conversation – UK – By Paul Rincon, Commissioning Editor, Science, Technology and Business

    Richard OD / Shutterstock

    The cyberattack that has targeted Marks & Spencer’s (M&S) is the latest in a growing wave of cases involving something called sim-swap fraud. While the full technical details remain under investigation, a report in the Times suggests that cyber attackers used this method to access M&S internal systems, possibly by taking control of an employee’s mobile number and convincing IT staff to reset critical login credentials.

    Sim-swap fraud is not a new phenomenon, but it is becoming increasingly dangerous
    and more prevalent. According to CIFAS, the UK’s national fraud prevention service, Sim-swap incidents have surged from under 300 in 2022 to almost 3,000 in 2023. What had been mainly a risk to cryptocurrency investors or online influencers is now much more prevalent.

    This form of cyberattack shows how major companies and ordinary people can be compromised through a tactic that exploits human factors, such as trust and how we have built our digital identities around mobile phones.

    Sim-swap fraud begins when a scammer convinces a mobile operator to transfer a victim’s number to a new sim card, or even an esim (one that’s embedded in the device), under the scammer’s control.

    This can be done over the phone, through an online chat, or even with the help of a
    bribed insider. Once the number is transferred, all calls and texts intended for the victim are redirected to the scammer. This includes those crucial verification codes used for logging into email, banking, messaging apps such as WhatsApp, and government services such as HMRC.

    This alone would be dangerous. But what makes sim-swap fraud so influential is
    that the cyber scammer often already has access to a patchwork of personal data
    about their target. That information may have been collected from data breaches,
    phishing attacks, low-reputation websites, or even the victim’s social media.

    People often underestimate the extent to which they reveal themselves online: a birthday posted on Instagram, a phone number included in a job posting, or a home address used in an online giveaway. Scammers combine this data to build a convincing profile, enough to fool a mobile operator’s customer service staff into believing they’re talking to the real account holder.

    How the sim-swap fraud works

    Once the scammer gains control of a number, the consequences are extensive.
    Attackers can access sensitive information, including personal documents and
    request and receive password reset links for the user’s other accounts. They can log in to WhatsApp or Telegram accounts, read private messages, impersonate the user, and even contact friends or family members to conduct further scams.

    The victims might see false messages posted in their names or fraudulent transactions made from their accounts. This can lead to financial loss, reputation damage, as well as emotional and mental health issues on the part of the victims.

    In the case of M&S, attackers apparently used this access to manipulate internal
    processes and gain access to sensitive systems. This highlights a broader risk:
    many companies still rely on phone numbers as a secondary verification method for
    staff, making their systems vulnerable to the same cyberattack used against
    individuals.

    How sim-Swap fraud works.
    Hossein Abroshan

    Reducing the risk

    While real-time detection of mobile number hijacking remains difficult, taking specific steps can significantly reduce the likelihood of being targeted and victimised. People should avoid sharing personal data unnecessarily, especially across multiple platforms and, very importantly, on unknown or untrusted websites.

    Many attackers don’t obtain all the necessary information from a single source. Instead, they collect it incrementally, using public profiles, marketing databases and past leaks to form a comprehensive picture.

    Being mindful of where you share your phone number, birthday or other identifiers can make it harder for others to impersonate you. It is also crucial to learn how phishing works and how to recognise it, so you will not submit your sensitive information to phishing or fake websites.

    Avoiding SMS-based authentication, where possible, is another key step. Many
    services now support authenticator apps, such as Google Authenticator, Microsoft Authenticator, Due or Authy, which are not tied to your mobile number. For mobile
    accounts themselves, setting up a unique pin or password to your account, which
    must be provided to authorise any changes, can add an extra layer of protection. This makes it harder for someone to initiate a sim swap without that code. However, users alone cannot fulfil this duty.

    Mobile network operators must strengthen identity verification practices, moving beyond basic questions about names and addresses that can be easily gathered or guessed. Banks and other financial institutions should reconsider using SMS or, at the very least, SMS-only as the default method for sensitive authentication. And companies, particularly those handling personal data or financial assets, need to train their IT and customer service teams to recognise the signs of identity based attacks.

    Sim-swap fraud is effective not because it’s highly technical, but because it exploits our trust in phone numbers for identity verification. The M&S case and similar examples show how fragile that trust can be – and why securing our mobile identities is no longer optional.

    – ref. M&S cyberattacks used a little-known but dangerous technique – https://theconversation.com/mands-cyberattacks-used-a-little-known-but-dangerous-technique-256601

    MIL OSI – Global Reports –

  • MIL-OSI USA: Reps. Lawler, Flood Introduce Bipartisan Equal Opportunity For All Investors Act

    Source: US Congressman Mike Lawler (R, NY-17)

    Washington, D.C. – 5/14/25… This week, Reps. Mike Lawler (NY-17), Mike Flood (NE-01), Cleo Fields (LA-06), Sarah McBride (DE-At large), and Shri Thanedar (MI-13) introduced the Equal Opportunity for All Investors Act. 

    The Equal Opportunity for All Investors Act provides additional pathways for Americans to become an accredited investor by allowing individuals seeking the status to take an examination, which will be established by the Securities and Exchange Commission and administered by the Financial Industry Regulatory Authority (FINRA).

    “The Equal Opportunity for All Investors Act is about opening up high-growth investment opportunities to more Americans. By expanding the definition of ‘accredited investor’ to include those who pass an SEC and FINRA certification, we’re modernizing outdated rules and ensuring that qualified individuals, not just the wealthiest, can participate in these valuable markets,” said Congressman Lawler. 

    “It is my firm belief that greater access to our capital markets should be accessible due to merit and knowledge, not just wealth. The Equal Opportunity for All Investors Act creates a new pathway for investors to gain accredited investor status by passing a thorough investment exam administered by FINRA. Thank you to my colleagues for joining this effort, and I look forward to bringing this before the full committee,” said Congressman Flood.

    “Louisiana families understand that wealth-building shouldn’t be restricted by arbitrary income thresholds. I’ve met countless constituents with the skills to evaluate sophisticated investments who simply don’t meet outdated wealth requirements. This common-sense reform creates credential-based entry points to private markets, maintaining essential safeguards while expanding access based on merit rather than means. By enabling qualified investors of all backgrounds to participate, we strengthen both public and private capital formation, building a more inclusive economy that reflects our values of opportunity and fairness,” said Congressman Fields.

    “Everyone deserves a fair shot at opportunity. The Equal Opportunity for All Investors Act is a commonsense, bipartisan step toward financial inclusion. By expanding the pool of accredited investors, we’re cutting through unnecessary red tape and opening the doors of our capital markets to a broader, more diverse group of Americans. That means greater access to capital for women, veterans, and communities of color — and more innovation, small business growth, and a stronger economy for everyone. I’m grateful to my colleague, Representative Flood, for his partnership,” said Congresswoman McBride.

    “As someone who came from deep poverty, I know firsthand that the financial system isn’t set up for those without means to succeed. One of my top priorities in Congress is facilitating economic development in communities across Michigan’s 13th Congressional District. By allowing more Americans to become accredited investors, we can allow each American to have a better shot at chasing their American Dream of a better life for themselves and their family. I am pleased to support Congressman Flood’s bipartisan bill again this Congress, and I look forward to seeing this critical legislation passed into law,” said Congressman Thanedar.

    Congressman Lawler is one of the most bipartisan members of Congress and represents New York’s 17th Congressional District, which is just north of New York City and contains all or parts of Rockland, Putnam, Dutchess, and Westchester Counties. He was rated the most effective freshman lawmaker in the 118th Congress, 8th overall, surpassing dozens of committee chairs.

    ###

    Full bill text can be found HERE.

    MIL OSI USA News –