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Category: Economy

  • MIL-OSI Europe: Written question – Oxfam: EUR 1 billion for a colossal NGO that is costing us a fortune? – P-001591/2025

    Source: European Parliament

    Priority question for written answer  P-001591/2025
    to the Commission
    Rule 144
    Virginie Joron (PfE)

    European Court of Auditors Special Report 11/2025 reveals shortcomings in the transparency of EU funding for non-governmental associations.

    Oxfam is believed to have received EUR 795 million between 2014 and 2023[1]. However, its lobbying office in Brussels[2] reports having received no EU subsidies for 2023-2024, while Oxfam Belgium discloses EUR 7 million for 2023, with inconsistencies in its overall budget (EUR 47.5 million declared and incorrect calculations)[3].

    The sky-high salaries of some of its executives (up to EUR 155 000 per year)[4] and its sale of goods in shops raise questions about Oxfam’s status as a charitable association and the legitimacy of the European, national and regional public funds it receives.

    • 1.How can the Commission explain the failure to check the inconsistencies in Oxfam’s financial arrangements or declarations (no subsidies declared by one entity, EUR 7 million by another; incorrect budget for Oxfam Belgium and its status as a charitable, non-profit-making association[5])?
    • 2.Oxfam claims to be a charitable association even though it engages in commercial transactions and some of its executives receive exorbitant salaries: at what threshold of executive remuneration does the Commission consider that an organisation has a commercial or profit-making purpose?
    • 3.Are national and European subsidies to Oxfam compatible with competition rules on state aid and the Treaties?

    Submitted: 22.4.2025

    • [1] https://ec.europa.eu/budget/financial-transparency-system/analysis.html
    • [2] https://transparency-register.europa.eu/searchregister-or-update/organisation-detail_en?id=46856801604-90
    • [3] https://transparency-register.europa.eu/searchregister-or-update/organisation-detail_en?id=961809845865-57
    • [4] EUR 155 000 in Great Britain (Grok); EUR 126 000 in 2023 for the PDG of Oxfam Ireland p.93: https://www.oxfamireland.org/sites/default/files/2023-09/2022_2023%20Oxfam%20Ireland%20Annual%20Report%20.pdf
    • [5] https://transparency-register.europa.eu/guidance/guidelines_en#ref-5-information-to-be-entered-in-the-register
    Last updated: 28 April 2025

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: Misleading WhatsApp message pertaining to donation to a particular bank account for modernisation of Indian Army

    Source: Government of India

    Posted On: 27 APR 2025 6:20PM by PIB Delhi

    There is a misleading message doing the rounds on WhatsApp pertaining to donation to a particular bank account for the modernisation of the Indian Army and for the soldiers injured or killed in action. The message quotes a Cabinet decision to this effect and invokes the name of actor Shri Akshay Kumar as being the prime mover of the proposal.

    The account details in the said message are wrong, leading to online donations getting dishonoured. People must remain cautious and not fall prey to such fraudulent messages.

    The Government has initiated several welfare schemes for soldiers killed or disabled during active combat operations.

    • In 2020, Government instituted ‘Armed Forces Battle Casualty Welfare Fund (AFBCWF)’ which is utilised for grant of immediate financial assistance to the families of soldiers/sailors/airmen who lay down their lives or get grievously injured in active military operations. The Indian Army, on behalf of the Department of Ex-Servicemen Welfare, Ministry of Defence maintains the accounts for the fund. Contribution can be made directly in the account of Armed Forces Battle Casualties Welfare Fund. Details of the bank accounts are given below:

     

    1st Account

    Fund Name

    Armed Forces Battle Casualties Welfare Fund

    Bank Name

    Canara Bank, South Block, Defence Headquarters New Delhi – 110011

     

    IFSC Code

    CNRB0019055

    Account No

    90552010165915

    Type of A/c

    Saving

     

    2nd Account

    Fund Name

    Armed Forces Battle Casualties Welfare Fund

    Bank Name

    State Bank of India, Parliament Street, New Delhi – 110011

    IFSC Code

    SBIN0000691

    Account No

    40650628094

    Type of A/c

    Saving

     

    Donations can also be made through a Demand Draft drawn in favor of AFBCWF payable at New Delhi which may be sent by post to the following address:

     

    Accounts Section

    Adjutant General’s Branch

    Ceremonial & Welfare Directorate

    Room No 281-B, South Block

    IHQ of MoD (Army), New Delhi – 110011

    *****

    VK/Savvy

    (Release ID: 2124728) Visitor Counter : 157

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: InvestHK unveils application details for Global Fast Track 2025

    Source: Hong Kong Government special administrative region

    Invest Hong Kong (InvestHK) announced that the eighth edition of the Global Fast Track (GFT) 2025 is now open for applications until September 21. This year, the programme will be expanded to include other verticals in addition to fintech, unleashing business opportunities for more technology companies in Hong Kong and worldwide. The year-long hybrid programme provides participants with one-on-one meetings, live pitching opportunities, mentorship, and tailored business matching with corporate clients, investors and service providers. A separate competition track will select semi-finalists from each vertical to pitch in person during the Hong Kong FinTech Week x StartmeupHK Festival 2025 in November, with the grand finale taking place at the main conference. Shortlisted companies will also have access to exclusive networking events during the week for potential partnerships. 
     
         The Global Head of Financial Services, FinTech & Sustainability at InvestHK, Mr King Leung, shared, “The Global Fast Track has grown into more than just a fintech-accelerating platform. The expansion into additional verticals beyond fintech reflects a growing trend of technology converging across multiple industries. To date, the GFT has supported over 1 000 fintech companies from more than 50 economies, helping them showcase cutting-edge innovations and expedite market entry into Hong Kong and beyond. We are thrilled to build on this success and continue to offer unparalleled access to a regional network of more than 120 investors, corporate and service champions, mentors, and industry leaders.”
     
         The Head of Startups at InvestHK, Ms Jayne Chan, added, “It is exciting to see the expansion of this meaningful programme this year, as we welcome applications from verticals beyond fintech, including the newly dedicated ‘Innovation & Technology’ or deep tech vertical. Together, we aim to unlock the true potential of innovation across industries and provide a launchpad for transformative solutions. I look forward to welcoming high-calibre start-ups and scaleup applicants from around the world and witnessing the remarkable outcomes this programme will deliver.”
     
    Explore the Seven Expanded Global Fast Track Verticals
     
    The GFT 2025 includes seven key verticals, covering a broader range of categories than ever before:

    • FinTech;
    • Artificial Intelligence;
    • GreenTech;
    • Blockchain & Digital Assets;
    • InsurTech & HealthTech;
    • Innovation & Technology; and
    • Mainland China Track (in Mandarin).

     
    Glimpse of GFT 2025 Featured Partners
     
    HKSTP Global Connect
     
    For the GFT 2025, InvestHK is once again partnering with the Hong Kong Science and Technology Parks Corporation’s Global Connect Programme to support start-ups in expanding their presence in Hong Kong. The programme offers a comprehensive soft-landing package, including:
     

    • Financial grants of up to HK$100,000;
    • Access to co-working space;
    • Investment and business matching;
    • 1-on-1 consultations for setting up businesses in Hong Kong; and
    • Training and networking.

     
    Accenture FinTech Innovation Lab Asia-Pacific
     
    Established by Accenture in collaboration with Hong Kong Cyberport, the FinTech Innovation Lab Asia-Pacific (FILAP) bridges growth-stage fintech start-ups with senior executives from world-leading financial institutions. Since its launch, FILAP alumni have collectively raised over US$1.1 billion in funding and developed 552 Proof of Concepts across nearly 90 companies. Through the GFT 2025, applicants will have the opportunity to fast-track to FILAP 2026 Interview Day, providing access to expert mentorship and exclusive connections to global financial leaders.
     
         The GFT 2025 is an unparalleled opportunity for qualified innovators to showcase their profile in front of thousands of attendees and key corporates and investors looking for solutions and investment opportunities. Previous finalists have come from around the world, including Canada, France, Israel, Mainland China, Korea, Sweden, Switzerland, the United Kingdom and the United States.
     
    For details of the entire programme of the GFT 2025 and the application process, please visit here.

    MIL OSI Asia Pacific News –

  • MIL-OSI Video: Syria: Fragile Transition and Humanitarian Crisis Demand Immediate Action | United Nations

    Source: United Nations (Video News)

    Following the raising of Syria’s new three starred flag at United Nations Headquarters, the Special Envoy for Syria, Geir Pedersen, today (25 Apr) told the Security Council that “the legacy of misrule, conflict, abuses and poverty from which Syria is trying to emerge is one of the heaviest that any state or people anywhere has had to face in modern times”, which means “that the situation is inherently still extremely fragile.”

    Pedersen said, “it’s only four and a half months since the fall of the former regime and the opening of a new chapter in Syria’s history,” and saluted the Syrian people, “who amidst continued suffering and many uncertainties and dangers show overwhelmingly that they want this political transition to succeed.”

    He told Council members that Syria “expanded and more diverse” cabinet “is indeed an improvement from what went before, yet it is still not fully inclusive framework for a political transition.”

    Pedersen said, “this leaves many Syrians unsure of their place in the new emerging new Syria.

    He informed the Council that he had met with members of Syria’s Alawite community, “who conveyed their deep concerns and presented harrowing accounts of violence.”

    During his talks with Syrian President Ahmed Hussein al-Sharaa, Pedersen said, this issue was discussed “at length.”

    The Special Envoy told the Council that “the sense of grievance still exists on both sides. A deep feeling of exclusion from the political process and the public sector, on one side, but also profound grievances towards persons associated with the former regime on the other.”

    He said the interim authority “needs to ensure that all segments of Syrian society are not only protected but also feel that they will be full participants in political life and state structures, including in terms of security.”

    For her part, Assistant Secretary-General for Humanitarian Affairs Joyce Msuya told the Council that nearly three quarters of the population in Syria are in need and seven million of them are displaced.

    She said, “we need to sustain momentum for investment in Syria’s recovery and development. Without this, this scale of humanitarian needs will far exceed our ability to respond to them. Millions of refugees and internally displaced persons who have expressed their desire to return home will continue to be dissuaded by a lack of basic services in livelihood opportunities, and the hope to seize this critical opportunity to build a more prosperous future risks slipping away.”

    Since the start of the year, 960 trucks have delivered aid through the cross-border operation from Türkiye – that’s more trucks than during the whole of 2024.

    Syria’s new Foreign Minister Asaad al-Shibani – who was present during the raising of the new flag, said, “this day came only after great sacrifices. After a march of blood and tears. Hundreds of thousands have been killed and disappeared. Disappeared without a trace in the prisons of the Assad regime. This day is theirs as it is ours. We will never forget them. And we will continue to work tirelessly to achieve peace and justice for them.”

    Outside the Council, talking to reporters, Pedersen said, “we need to see more inclusiveness on the side of the government. That’s sort of what they need to do. And then the international community needs really to get its act together on sanctions and humanitarian assistance, because as you heard from the new Foreign Minister, he emphasised very clearly that Syrians do not want to be dependent on foreign aid, they want to see it developing their own economy.”

    The key challenge, he said, are “the American sanctions,” and welcomed contacts between, the new Syrian government and the American administration.

    Pedersen said, “let’s hope that that will lead to some positive developments on this, because, as you rightly said, it’s absolutely critical.”

    https://www.youtube.com/watch?v=bStb01IqjA0

    MIL OSI Video –

  • MIL-OSI Asia-Pac: HKMA establishes Expert Panel on Project CargoX to support digital trade finance ecosystem

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

    The Hong Kong Monetary Authority (HKMA) announced today (April 28) the establishment of an Expert Panel on Project CargoX (the Expert Panel) to enhance the digital ecosystem for trade finance by harnessing the power of cargo data.

    Riding on the HKMA’s Commercial Data Interchange (CDI) (Note), Project CargoX is a multi-year, public-private collaboration, focusing on three key areas:

    • leveraging cargo data to streamline and enhance trade finance processes;
    • developing digital solutions to improve accessibility to trade finance for small and medium-sized enterprises (SMEs); and
    • exploring connections with international data partners to facilitate the trade financing use case for banks in Hong Kong.

    To achieve these objectives, the HKMA has established an Expert Panel comprising industry experts and key stakeholders from cargo data providers, trade associations, banks, credit reference agencies and government agencies. The Expert Panel will formulate a roadmap for digitising cargo data (encompassing sea, road and air transportation data), and integrating relevant cargo data sources across jurisdictions with CDI, by the end of 2025. A list of the Expert Panel members can be found in the Annex.

    With the guidance and recommendation from the Expert Panel, the HKMA will conduct proof-of-concept (PoC) studies and develop new solutions with strategic partners such as the Airport Authority Hong Kong (AAHK) and the Transport and Logistics Bureau (TLB) as well as pilot banks to improve digital trade finance through the use of cargo data and CDI in 2025 and 2026. 

         The Chief Executive of the HKMA, Mr Eddie Yue, said, “In today’s complex global trade landscape, many businesses, in particular SME traders, need more digitalised and efficient trade finance solutions to transform their business models and supply chains. By uniting a diverse group of experts from public and private sectors, the Expert Panel will play a pivotal role in driving the advancement of our digital trade finance ecosystem, reinforcing Hong Kong’s position as a premier trade finance hub and fostering the growth of SMEs. Leveraging cargo data and our next-generation CDI data infrastructure, CargoX will help resolve some long-standing pain points in trade finance for banks, ultimately boosting efficiency and driving industry-wide innovation.”

         The Commissioner for Maritime and Port Development of the TLB, Miss Amy Chan, said, “The Transport and Logistics Bureau is developing the Port Community System for completion by end of this year to provide cargo track-and-trace across sea, road, and air transport, which is expected to lead the maritime, port, logistics and trading industries to new heights of digitalisation. The Port Community System makes use of blockchain technology to record cargo flows, hence ensuring the integrity and reliability of cargo flow information. We look forward to working with the Expert Panel and strategic partners to unlock the enormous potential of the Port Community System in facilitating trade finance, supporting SMEs, and strengthening Hong Kong’s position as a global maritime hub.”

         Executive Director, Commercial of the AAHK, Ms Cissy Chan, said, “The AAHK is committed to driving innovation and digitalisation in the air cargo industry. Since launching the HKIA Cargo Data Platform in 2021, we have been working with a vast range of ecosystem partners in enabling efficient information and cargo flow via Hong Kong International Airport. The successful use case co-created with the HKMA’s CDI further synergises the capital flow and exemplifies the benefits on trade financing leveraging cargo data and cross-industry ecosystem collaboration. We welcome the HKMA’s effort to continue this momentum through CargoX initiative and look forward to working with like-minded organisations to continue contributing to the development of Hong Kong’s digital trade finance ecosystem.”

    Note: Launched by the HKMA in October 2022, CDI is a consent-based financial data infrastructure that aims to enhance data sharing by facilitating financial institutions’ retrieval of enterprises’ commercial data, in particular the data of SMEs, from both public and private data providers.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: External merchandise trade statistics for March 2025

    Source: Hong Kong Government special administrative region

    External merchandise trade statistics for March 2025 
         In March 2025, the value of total exports of goods increased by 18.5% over a year earlier to $455.5 billion, after a year-on-year increase by 15.4% in February 2025. Concurrently, the value of imports of goods increased by 16.6% over a year earlier to $500.9 billion in March 2025, after a year-on-year increase by 11.8% in February 2025. A visible trade deficit of $45.4 billion, equivalent to 9.1% of the value of imports of goods, was recorded in March 2025.
     
         For the first quarter of 2025 as a whole, the value of total exports of goods increased by 10.9% over the same period in 2024. Concurrently, the value of imports of goods increased by 9.8%. A visible trade deficit of $80.7 billion, equivalent to 6.4% of the value of imports of goods, was recorded in the first quarter of 2025.
     
         Comparing the first quarter of 2025 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods increased by 12.7%. Meanwhile, the value of imports of goods increased by 9.9%.
     
    Analysis by country/territory
     
         Comparing March 2025 with March 2024, total exports to Asia as a whole grew by 22.4%. In this region, increases were registered in the values of total exports to some major destinations, in particular Taiwan (+61.3%), Malaysia (+57.3%), Vietnam (+41.3%), the Philippines (+34.5%) and the mainland of China (the Mainland) (+25.4%). On the other hand, a decrease was recorded in the value of total exports to Korea (-22.8%).
     
         Apart from destinations in Asia, increases were registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (+48.5%) and the USA (+11.4%). On the other hand, a decrease was recorded in the value of total exports to the Netherlands (-29.0%).
     
         Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Vietnam (+95.1%), Taiwan (+75.8%), the United Kingdom (+55.6%), Malaysia (+46.9%) and the Mainland (+7.4%). On the other hand, a decrease was recorded in the value of imports from Korea (-21.0%).
     
         For the first quarter of 2025 as a whole, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+69.1%), Taiwan (+40.6%) and the Mainland (+16.2%). On the other hand, decreases were recorded in the values of total exports to the United Arab Emirates (-36.9%) and India (-20.2%).
     
         Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Vietnam (+68.9%), the United Kingdom (+57.4%), Taiwan (+53.9%), Malaysia (+47.6%) and the Mainland (+4.1%). On the other hand, a decrease was recorded in the value of imports from Korea (-23.6%).
     
    Analysis by major commodity
     
         Comparing March 2025 with March 2024, increases were registered in the values of total exports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $51.2 billion or +133.5%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $20.8 billion or +11.1%). 
     
         Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $44.4 billion or +130.8%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $22.2 billion or +11.5%).
     
         For the first quarter of 2025 as a whole, increases were registered in the values of total exports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $86.7 billion or +82.6%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $43.3 billion or +8.6%).  On the other hand, a decrease was registered in the value of total exports of “telecommunications and sound recording and reproducing apparatus and equipment” (by $12.1 billion or -9.0%).
     
         Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $74.8 billion or +91.1%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $52.4 billion or +10.6%). On the other hand, a decrease was registered in the value of imports of “non-metallic mineral manufactures” (by $10.0 billion or -24.0%).
     
    Commentary
     
         A Government spokesman said that the value of merchandise exports grew sharply by 18.5% in March over a year earlier.  Exports to the Mainland grew strongly, while those to other major Asian economies showed mixed performance. Exports to the United States increased visibly, and those to the European Union registered a marginal increase.
     
         Looking ahead, global trade tensions have escalated abruptly due to the significant increases in tariffs by the United States in early April. This will pose challenges to Hong Kong’s merchandise trade performance. Nevertheless, the steady growth in the Mainland economy, together with Hong Kong’s proactive efforts in enhancing economic and trade ties with different markets, should help buttress trade performance. The Government has been providing support to enterprises through various measures in coping with the external challenges, and will monitor the situation closely.
     
    Further information
     
         Table 1 presents the analysis of external merchandise trade statistics for March 2025. Table 2 presents the original monthly trade statistics from January 2022 to March 2025, and Table 3 gives the seasonally adjusted series for the same period.
     
         The values of total exports of goods to 10 main destinations for March 2025 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.
     
         Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for March 2025.
     
         All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for March 2025 will be released in mid-May 2025.
     
         The March 2025 issue of “Hong Kong External Merchandise Trade” contains detailed analysis on the performance of Hong Kong’s external merchandise trade in March 2025 and will be available in early May 2025. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230 
         Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4691).
    Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Provident Financial Holdings Reports Third Quarter of Fiscal Year 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Net Income of $1.86 million in the March 2025 Quarter, Up 113% from the Sequential Quarter and Up 24% from the Comparable Quarter Last Year

    Net Interest Margin of 3.02% in the March 2025 Quarter, Up 11 Basis Points from the Sequential Quarter and 28 Basis Points from the Comparable Quarter Last Year

    Loans Held for Investment of $1.06 Billion at March 31, 2025, Up 1% from June 30, 2024

    Total Deposits of $901.3 Million at March 31, 2025, Up 2% from June 30, 2024

    Non-Performing Assets to Total Assets Ratio of 0.11% at March 31, 2025, Down from 0.20% at June 30, 2024

    RIVERSIDE, Calif., April 28, 2025 (GLOBE NEWSWIRE) — Provident Financial Holdings, Inc. (“Company”), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B. (“Bank”), today announced earnings for the third quarter of the fiscal year ending June 30, 2025.

    The Company reported net income of $1.86 million, or $0.28 per diluted share (on 6.73 million average diluted shares outstanding), for the quarter ended March 31, 2025, up 24 percent from net income of $1.50 million, or $0.22 per diluted share (on 6.94 million average diluted shares outstanding), in the comparable period a year ago. The increase was due primarily to a $653,000 increase in net interest income and a $391,000 recovery of credit losses (in contrast to a $124,000 provision for credit losses in the comparable period a year ago), partly offset by a $688,000 increase in non-interest expense (primarily attributable to higher salaries and employee benefits and other operating expenses).

    “The operating environment for Provident has improved over the course of this fiscal year. Our net interest margin has improved each quarter subsequent to June 30, 2024, loan and deposit balances have grown for two consecutive quarters, borrowings have declined for two consecutive quarters, and credit quality remains strong,” stated Donavon P. Ternes, President and Chief Executive Officer of the Company. “We remain active in our stock repurchase plan and continue to maintain our quarterly cash dividend at a consistent level,” concluded Ternes.

    Return on average assets was 0.59 percent for the third quarter of fiscal 2025, compared to 0.28 percent in the second quarter of fiscal 2025 and 0.47 percent for the third quarter of fiscal 2024. Return on average stockholders’ equity for the third quarter of fiscal 2025 was 5.71 percent, compared to 2.66 percent for the second quarter of fiscal 2025 and 4.57 percent for the third quarter of fiscal 2024.

    On a sequential quarter basis, the $1.86 million net income for the third quarter of fiscal 2025 reflects a 113 percent increase from $872,000 in the second quarter of fiscal 2025. The increase was primarily attributable to a $391,000 recovery of credit losses (in contrast to a $586,000 provision for credit losses in the prior sequential quarter), and a $453,000 increase in net interest income (primarily due to a higher net interest margin). Diluted earnings per share for the third quarter of fiscal 2025 were $0.28 per share, up 115 percent from $0.13 per share in the second quarter of fiscal 2025.

    For the nine months ended March 31, 2025, net income decreased $769,000, or 14 percent, to $4.63 million from $5.40 million in the comparable period in fiscal 2024. Diluted earnings per share for the nine months ended March 31, 2025 decreased 12 percent to $0.68 per share (on 6.80 million average diluted shares outstanding) from $0.77 per share (on 6.98 million average diluted shares outstanding) for the comparable nine-month period last year. The decrease was primarily attributable to a $1.81 million increase in non-interest expense (primarily due to an increase in salaries and employee benefits, premises and occupancy, equipment and other operating expenses), partly offset by a $451,000 higher recovery of credit losses, a $177,000 increase in non-interest income and a $115,000 increase in net interest income.

    In the third quarter of fiscal 2025, net interest income increased $653,000 or eight percent to $9.21 million from $8.56 million for the same quarter last year. The increase in net interest income was due to a higher net interest margin, partly offset by a lower average balance of interest-earning assets. The net interest margin for the third quarter of fiscal 2025 increased 28 basis points to 3.02 percent from 2.74 percent in the same quarter last year. The increase in net interest margin was due to increased yields on interest-earning assets outpacing increased funding costs. The average yield on interest-earning assets increased 32 basis points to 4.73 percent in the third quarter of fiscal 2025 from 4.41 percent in the same quarter last year. In contrast, our average funding costs increased by five basis points to 1.91 percent in the third quarter of fiscal 2025 from 1.86 percent in the same quarter last year. The average balance of interest-earning assets decreased two percent to $1.22 billion in the third quarter of fiscal 2025 from $1.25 billion in the same quarter last year, primarily due to decreases in the average balance of investment securities and loans receivable, partly offset by an increase in interest-earning deposits.

    Interest income on loans receivable increased $685,000, or five percent, to $13.37 million in the third quarter of fiscal 2025 from $12.68 million in the same quarter of fiscal 2024. The increase was due to a higher average loan yield, partly offset by a lower average loan balance. The average yield on loans receivable increased 32 basis points to 5.06 percent in the third quarter of fiscal 2025 from 4.74 percent in the same quarter last year. Adjustable-rate loans of approximately $130.9 million repriced downward in the third quarter of fiscal 2025 by approximately four basis points, from a weighted average rate of 7.56 percent to 7.52 percent. However, the overall increase in average yield was driven by an upward repricing of adjustable mortgage loans during the last 12 months. The average balance of loans receivable decreased $14.6 million, or one percent, to $1.06 billion in the third quarter of fiscal 2025 from $1.07 billion in the same quarter last year. Total loans originated for investment in the third quarter of fiscal 2025 were $27.9 million, up 53 percent from $18.2 million in the same quarter last year, while loan principal payments received in the third quarter of fiscal 2025 were $23.0 million, down 19 percent from $28.5 million in the same quarter last year.

    Interest income from investment securities decreased $58,000, or 11 percent, to $459,000 in the third quarter of fiscal 2025 from $517,000 for the same quarter of fiscal 2024. This decrease was attributable to a lower average balance, partly offset by a higher average yield. The average balance of investment securities decreased $23.0 million, or 16 percent, to $118.4 million in the third quarter of fiscal 2025 from $141.4 million in the same quarter last year. The decrease in the average balance was due to scheduled principal payments and prepayments of investment securities. The average yield on investment securities increased nine basis points to 1.55 percent in the third quarter of fiscal 2025 from 1.46 percent for the same quarter last year. The increase in the average yield was primarily attributable to a lower premium amortization during the current quarter in comparison to the same quarter last year ($86,000 vs. $124,000) due to lower total principal repayments ($5.3 million vs. $5.7 million) and, to a lesser extent, the upward repricing of adjustable-rate mortgage-backed securities.

    In the third quarter of fiscal 2025, the Bank received $213,000 in cash dividends from the Federal Home Loan Bank (“FHLB”) – San Francisco stock and other equity investments, up one percent from $210,000 in the same quarter last year, resulting in an average yield of 8.30 percent in the third quarter of fiscal 2025 compared to 8.84 percent in the same quarter last year. The average balance of FHLB – San Francisco stock and other equity investments in the third quarter of fiscal 2025 was $10.3 million, up from $9.5 million in the same quarter of fiscal 2024.

    Interest income from interest-earning deposits, primarily cash deposited at the Federal Reserve Bank (“FRB”) of San Francisco, was $389,000 in the third quarter of fiscal 2025, down $8,000 or two percent from $397,000 in the same quarter of fiscal 2024. The decrease was due to a lower average yield, partly offset by a higher average balance. The average yield earned on interest-earning deposits in the third quarter of fiscal 2025 was 4.42 percent, down 98 basis points from 5.40 percent in the same quarter last year. The decrease in the average yield was due to a lower average interest rate on the FRB’s reserve balances resulting from decreases in the targeted federal funds rate during the comparable periods. The average balance of the Company’s interest-earning deposits increased $6.1 million, or 21 percent, to $35.2 million in the third quarter of fiscal 2025 from $29.1 million in the same quarter last year.

    Interest expense on deposits for the third quarter of fiscal 2025 was $2.75 million, an increase of $71,000 or three percent from $2.68 million for the same period last year. The increase was attributable to higher rates paid on deposits, partly offset by a lower average balance. The average cost of deposits was 1.26 percent in the third quarter of fiscal 2025, up eight basis points from 1.18 percent in the same quarter last year, primarily due to a greater proportion of time deposits, including brokered certificates of deposit which carry higher interest rates. The average balance of deposits decreased $25.8 million, or three percent, to $885.0 million in the third quarter of fiscal 2025 from $910.8 million in the same quarter last year.

    Transaction account balances, or “core deposits,” decreased $23.1 million, or four percent, to $591.4 million at March 31, 2025 from $614.5 million at June 30, 2024, while time deposits increased $36.0 million, or 13 percent, to $309.9 million at March 31, 2025 from $273.9 million at June 30, 2024. As of March 31, 2025, brokered certificates of deposit (which amounts are reflected in time deposits above) totaled $129.8 million, down $2.0 million or two percent from $131.8 million at June 30, 2024. The weighted average cost of brokered certificates of deposit was 4.34 percent and 5.18 percent (including broker fees) at March 31, 2025 and June 30, 2024, respectively.

    Interest expense on borrowings, consisting of FHLB advances, for the third quarter of fiscal 2025 decreased $102,000, or four percent, to $2.47 million from $2.57 million for the same period last year. The decrease was primarily the result of a lower average cost and, to a lesser extent, a lower average balance. The average cost of borrowings decreased 11 basis points to 4.52 percent in the third quarter of fiscal 2025 from 4.63 percent in the same quarter last year. The average balance of borrowings decreased $1.8 million, or one percent, to $221.8 million in the third quarter of fiscal 2025 from $223.6 million in the same quarter last year.

    At March 31, 2025, the Bank had approximately $269.8 million of remaining borrowing capacity at the FHLB. Additionally, the Bank has a remaining borrowing facility of approximately $151.0 million with the FRB of San Francisco and an unused unsecured federal funds borrowing facility of $50.0 million with its correspondent bank. The total available borrowing capacity across all sources totaled approximately $470.8 million at March 31, 2025.

    During the third quarter of fiscal 2025, the Company recorded a recovery of credit losses totaling $391,000, which included a $12,000 recovery related to unfunded loan commitment reserves. This compares to a $124,000 provision for credit losses in the same quarter last year and a $586,000 provision in the second quarter of fiscal 2025 (sequential quarter). The recovery of credit losses recorded in the third quarter of fiscal 2025 was primarily attributable to improved qualitative factors related to single-family residential collateral, partly offset by a lengthening of the average loan life due to lower estimated loan prepayments as of March 31, 2025, compared to December 31, 2024.

    Non-performing assets, comprised solely of non-accrual loans secured by properties located in California, decreased $1.2 million or 46 percent to $1.4 million, which represented 0.11 percent of total assets at March 31, 2025, compared to $2.6 million, which represented 0.20 percent of total assets at June 30, 2024. At March 31, 2025, non-performing loans were comprised of seven single-family loans and one multi-family loan, while at June 30, 2024, non-performing loans were comprised of 10 single-family loans. At both dates, the Bank had no real estate owned and no loans 90 days or more past due that were still accruing interest. Additionally, there were no loan charge-offs during the quarters ended March 31, 2025 and 2024.

    The January 2025 wildfires in Los Angeles, California did not have a material impact on the Company’s operations or the Bank’s customers. The Bank’s branches and facilities remained operational throughout the wildfire events, and there were no significant disruptions to customer services or business activities. Additionally, the Bank did not have any significant credit exposure or financial impact attributable to the wildfires.

    Classified assets were $6.8 million at March 31, 2025, consisting of $1.7 million of loans in the special mention category and $5.1 million of loans in the substandard category. Classified assets at June 30, 2024 were $5.8 million, consisting of $1.1 million of loans in the special mention category and $4.7 million of loans in the substandard category.

    The allowance for credit losses on loans held for investment was $6.6 million, or 0.62 percent of gross loans held for investment, at March 31, 2025, down from $7.1 million, or 0.67 percent of gross loans held for investment, at June 30, 2024. The decrease in the allowance for credit losses was due primarily to improved qualitative factors related to single-family residential collateral, partially offset by an increase in the estimated average life of the loan portfolio, reflecting lower loan prepayment expectations as of March 31, 2025. Management believes, based on currently available information, the allowance for credit losses is sufficient to absorb expected losses inherent in loans held for investment at March 31, 2025.

    Non-interest income increased by $59,000, or seven percent, to $907,000 in the third quarter of fiscal 2025 from $848,000 in the same period last year, due primarily to a $43,000 increase in loan servicing and other fees and a $55,000 increase in other fees (primarily attributable to an increase in the unrealized gain on other equity investments). These increases were partly offset by decreases of $26,000 and $13,000 in card and processing fees and deposit account fees, respectively, primarily due to lower transaction volumes and reduced customer activity. On a sequential quarter basis, non-interest income increased $63,000, or seven percent, primarily due to an increase in loan servicing and other fees.

    Non-interest expense increased $688,000, or 10 percent, to $7.86 million in the third quarter of fiscal 2025 from $7.17 million for the same quarter last year, primarily due to a $236,000 increase in salaries and employee benefits expenses and a $235,000 increase in other operating expenses. The higher salaries and employee benefits expenses was primarily due to higher compensation expenses, a higher accrual adjustment for the supplemental executive retirement plan expense, higher group insurance expenses and higher equity incentive expenses, partly offset by a decrease in retirement plan benefit expenses. The increase in other operating expenses was primarily attributable to a $239,000 litigation settlement expense. On a sequential quarter basis, non-interest expense increased $62,000, or one percent as compared to $7.79 million in the second quarter of fiscal 2025, due primarily to the litigation settlement expense, partly offset by decreases in salaries and employee benefits expenses, premises and occupancy expenses and professional expenses.

    The Company’s efficiency ratio, defined as non-interest expense divided by the sum of net interest income and non-interest income, in the third quarter of fiscal 2025 was 77.64 percent, a slight increase from 76.20 percent in the same quarter last year but an improvement from 81.15 percent in the second quarter of fiscal 2025 (sequential quarter). The increase in the efficiency ratio during the current quarter in comparison to the comparable quarter last year was due to higher non-interest expense relative to total net interest income plus non-interest income.

    The Company’s provision for income taxes was $797,000 for the third quarter of fiscal 2025, up 29 percent from $620,000 in the same quarter last year and up 126 percent from $352,000 for the second quarter of fiscal 2025 (sequential quarter). The increase during the current quarter compared to both the sequential quarter and same quarter last year was due to an increase in pre-tax income. The effective tax rate in the third quarter of fiscal 2025 was 30.0 percent as compared to 29.3 percent in the same quarter last year and 28.8 percent for the second quarter of fiscal 2025 (sequential quarter).

    The Company repurchased 51,869 shares of its common stock at an average cost of $15.30 per share during the quarter ended March 31, 2025. As of March 31, 2025, a total of 293,132 shares remained available for future purchase under the Company’s current repurchase program.

    The Bank currently operates 13 retail/business banking offices in Riverside County and San Bernardino County (Inland Empire).

    The Company will host a conference call for institutional investors and bank analysts on Tuesday, April 29, 2025 at 9:00 a.m. (Pacific) to discuss its financial results. The conference call can be accessed by dialing 1-800-715-9871 and referencing Conference ID number 7361828. An audio replay of the conference call will be available through Tuesday, May 6, 2025 by dialing 1-800-770-2030 and referencing Conference ID number 7361828.

    For more financial information about the Company please visit the website at www.myprovident.com and click on the “Investor Relations” section.

    Safe-Harbor Statement

    This press release contains statements that the Company believes are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to the Company’s financial condition, liquidity, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements as they are subject to various risks and uncertainties. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company.

    There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors which could cause actual results to differ materially from the results anticipated or implied by our forward-looking statements include, but are not limited to: adverse economic conditions in our local market areas or other markets where we have lending relationships; effects of employment levels, labor shortages, inflation, a recession or slowed economic growth; changes in the interest rate environment, including the increases and decreases in the Board of Governors of the Federal Reserve Board (the “Federal Reserve”) benchmark rate and the duration of such levels, which could adversely affect our revenues and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and the Federal Reserve monetary policy; the effects of any Federal government shutdown; credit risks of lending activities, including loan delinquencies, write-offs, changes in our allowance for credit losses (“ACL”), and provision for credit losses; increased competitive pressures, including repricing and competitors’ pricing initiatives, and their impact on our market position, loan, and deposit products; quality and composition of our securities portfolio and the impact of adverse changes in the securities markets; fluctuations in deposits; secondary market conditions for loans and our ability to sell loans in the secondary market; liquidity issues, including our ability to borrow funds or raise additional capital, if necessary; expectations regarding key growth initiatives and strategic priorities; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; results of examinations of us by regulatory authorities, which may the possibility that any such regulatory authority may, among other things, institute a formal or informal enforcement action against us or our bank subsidiary which could require us to increase our ACL, write-down assets, change our regulatory capital position or affect our ability to borrow funds or maintain or increase deposits or impose additional requirements or restrictions on us, any of which could adversely affect our liquidity and earnings; legislative and regulatory changes, including changes in banking, securities and tax law, in regulatory policies and principles, or the interpretation of regulatory capital or other rules; use of estimates in determining the fair value of assets, which may prove incorrect; disruptions or security breaches, or other adverse events, failures or interruptions in or attacks on our information technology systems or on our third-party vendors; the potential for new or increased tariffs, trade restrictions or geopolitical tensions that could affect economic activity or specific industry sectors; staffing fluctuations in response to product demand or corporate implementation strategies; our ability to pay dividends on our common stock; environmental, social and governance goals; effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest and other external events; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with and furnished to the Securities and Exchange Commission (“SEC”), which are available on our website at www.myprovident.com and on the SEC’s website at www.sec.gov.

    We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements whether as a result of new information, future events or otherwise. These risks could cause our actual results for fiscal 2025 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of us and could negatively affect our operating and stock price performance.

             

    Contacts:

    		   Donavon P. Ternes   Haryanto L. Sunarto
        President and   Interim Chief Financial Officer
        Chief Executive Officer   (951) 686-6060
    PROVIDENT FINANCIAL HOLDINGS, INC.
    Condensed Consolidated Statements of Financial Condition
    (Unaudited –In Thousands, Except Share and Per Share Information)
                                   
        March 31,   December 31,   September 30,   June 30,   March 31,
        2025
    		   2024
    		   2024
    		   2024
    		   2024
    Assets                              
    Cash and cash equivalents   $ 50,915     $ 45,539     $ 48,193     $ 51,376     $ 51,731  
    Investment securities – held to maturity, at cost with no allowance for credit losses     113,617       118,888       124,268       130,051       135,971  
    Investment securities – available for sale, at fair value     1,681       1,750       1,809       1,849       1,935  
    Loans held for investment, net of allowance for credit losses of $6,577, $6,956, $6,329, $7,065 and $7,108, respectively; includes $1,032, $1,016, $1,082, $1,047 and $1,054 of loans held at fair value, respectively     1,058,980       1,053,603       1,048,633       1,052,979       1,065,761  
    Accrued interest receivable     4,263       4,167       4,287       4,287       4,249  
    FHLB – San Francisco stock and other equity investments, includes $721, $650, $565, $540 and $0 of other equity investments at fair value, respectively     10,289       10,218       10,133       10,108       9,505  
    Premises and equipment, net     9,388       9,474       9,615       9,313       9,637  
    Prepaid expenses and other assets     11,047       11,327       10,442       12,237       11,258  
    Total assets   $ 1,260,180     $ 1,254,966     $ 1,257,380     $ 1,272,200     $ 1,290,047  
                                   
    Liabilities and Stockholders’ Equity                              
    Liabilities:                              
    Noninterest-bearing deposits   $ 89,103     $ 85,399     $ 86,458     $ 95,627     $ 91,708  
    Interest-bearing deposits     812,216       782,116       777,406       792,721       816,414  
    Total deposits     901,319       867,515       863,864       888,348       908,122  
                                   
    Borrowings     215,580       245,500       249,500       238,500       235,000  
    Accounts payable, accrued interest and other liabilities     14,406       13,321       14,410       15,411       17,419  
    Total liabilities     1,131,305       1,126,336       1,127,774       1,142,259       1,160,541  
                                   
    Stockholders’ equity:                              
    Preferred stock, $.01 par value (2,000,000 shares authorized; none issued and outstanding)     —       —       —       —       —  
    Common stock, $.01 par value; (40,000,000 shares authorized; 18,229,615, 18,229,615, 18,229,615, 18,229,615 and 18,229,615 shares issued respectively; 6,653,822, 6,705,691, 6,769,247, 6,847,821 and 6,896,297 shares outstanding, respectively)     183       183       183       183       183  
    Additional paid-in capital     99,096       98,747       98,711       98,532       99,591  
    Retained earnings     211,701       210,779       210,853       209,914       208,923  
    Treasury stock at cost (11,573,793, 11,523,924, 11,460,368, 11,381,794, and 11,333,318 shares, respectively)     (182,121 )     (181,094 )     (180,155 )     (178,685 )     (179,183 )
    Accumulated other comprehensive income (loss), net of tax     16       15       14       (3 )     (8 )
    Total stockholders’ equity     128,875       128,630       129,606       129,941       129,506  
    Total liabilities and stockholders’ equity   $ 1,260,180     $ 1,254,966     $ 1,257,380     $ 1,272,200     $ 1,290,047  
    PROVIDENT FINANCIAL HOLDINGS, INC.
    Condensed Consolidated Statements of Operations
    (Unaudited – In Thousands, Except Per Share Information)
                             
        For the Quarter Ended   Nine Months Ended
           March 31,      March 31,
           2025
    		      2024      2025
    		      2024
    Interest income:                        
    Loans receivable, net   $ 13,368     $ 12,683   $ 39,441     $ 37,368  
    Investment securities     459       517     1,412       1,565  
    FHLB – San Francisco stock and other equity investments     213       210     636       586  
    Interest-earning deposits     389       397     1,036       1,295  
    Total interest income     14,429       13,807     42,525       40,814  
                             
    Interest expense:                        
    Checking and money market deposits     46       90     150       219  
    Savings deposits     127       97     356       208  
    Time deposits     2,573       2,488     7,738       6,406  
    Borrowings     2,471       2,573     7,694       7,509  
    Total interest expense     5,217       5,248     15,938       14,342  
                             
    Net interest income     9,212       8,559     26,587       26,472  
    (Recovery of) provision for credit losses     (391 )     124     (502 )     (51 )
    Net interest income, after (recovery of) provision for credit losses     9,603       8,435     27,089       26,523  
                             
    Non-interest income:                        
    Loan servicing and other fees     135       92     299       195  
    Deposit account fees     276       289     856       876  
    Card and processing fees     291       317     911       1,003  
    Other     205       150     585       400  
    Total non-interest income     907       848     2,651       2,474  
                             
    Non-interest expense:                        
    Salaries and employee benefits     4,776       4,540     14,235       13,223  
    Premises and occupancy     880       835     2,748       2,641  
    Equipment     417       329     1,139       962  
    Professional     386       321     1,224       1,203  
    Sales and marketing     181       167     541       516  
    Deposit insurance premiums and regulatory assessments     195       190     568       596  
    Other     1,021       786     2,718       2,227  
    Total non-interest expense     7,856       7,168     23,173       21,368  
    Income before income taxes     2,654       2,115     6,567       7,629  
    Provision for income taxes     797       620     1,938       2,231  
    Net income   $ 1,857     $ 1,495   $ 4,629     $ 5,398  
                             
    Basic earnings per share   $ 0.28     $ 0.22   $ 0.69     $ 0.77  
    Diluted earnings per share   $ 0.28     $ 0.22   $ 0.68     $ 0.77  
    Cash dividends per share   $ 0.14     $ 0.14   $ 0.42     $ 0.42  
    PROVIDENT FINANCIAL HOLDINGS, INC.
    Condensed Consolidated Statements of Operations – Sequential Quarters
    (Unaudited – In Thousands, Except Per Share Information)
                                   
        For the Quarter Ended
        March 31,   December 31,   September 30,   June 30,   March 31,
           2025
    		      2024      2024
    		      2024
    		      2024
    Interest income:                              
    Loans receivable, net   $ 13,368     $ 13,050   $ 13,023     $ 12,826     $ 12,683
    Investment securities     459       471     482       504       517
    FHLB – San Francisco stock and other equity investments     213       213     210       207       210
    Interest-earning deposits     389       287     360       379       397
    Total interest income     14,429       14,021     14,075       13,916       13,807
                                   
    Interest expense:                              
    Checking and money market deposits     46       51     53       71       90
    Savings deposits     127       117     112       105       97
    Time deposits     2,573       2,506     2,659       2,657       2,488
    Borrowings     2,471       2,588     2,635       2,632       2,573
    Total interest expense     5,217       5,262     5,459       5,465       5,248
                                   
    Net interest income     9,212       8,759     8,616       8,451       8,559
    (Recovery of) provision for credit losses     (391 )     586     (697 )     (12 )     124
    Net interest income, after (recovery of) provision for credit losses     9,603       8,173     9,313       8,463       8,435
                                   
    Non-interest income:                              
    Loan servicing and other fees     135       60     104       142       92
    Deposit account fees     276       282     298       278       289
    Card and processing fees     291       300     320       381       317
    Other     205       203     177       666       150
    Total non-interest income     907       845     899       1,467       848
                                   
    Non-interest expense:                              
    Salaries and employee benefits     4,776       4,826     4,633       4,419       4,540
    Premises and occupancy     880       917     951       945       835
    Equipment     417       379     343       347       329
    Professional     386       412     426       327       321
    Sales and marketing     181       187     173       193       167
    Deposit insurance premiums and regulatory assessments     195       190     183       184       190
    Other     1,021       883     814       757       786
    Total non-interest expense     7,856       7,794     7,523       7,172       7,168
    Income before income taxes     2,654       1,224     2,689       2,758       2,115
    Provision for income taxes     797       352     789       805       620
    Net income   $ 1,857     $ 872   $ 1,900     $ 1,953     $ 1,495
                                   
    Basic earnings per share   $ 0.28     $ 0.13   $ 0.28     $ 0.28     $ 0.22
    Diluted earnings per share   $ 0.28     $ 0.13   $ 0.28     $ 0.28     $ 0.22
    Cash dividends per share   $ 0.14     $ 0.14   $ 0.14     $ 0.14     $ 0.14
                                   
    PROVIDENT FINANCIAL HOLDINGS, INC.
    Financial Highlights
    (Unaudited – Dollars in Thousands, Except Share and Per Share Information)
                               
        As of and For the  
        Quarter Ended   Nine Months Ended  
        March 31,   March 31,  
           2025      2024      2025      2024  
    SELECTED FINANCIAL RATIOS:                          
    Return on average assets     0.59 %   0.47 %   0.50 %   0.56 %
    Return on average stockholders’ equity     5.71 %   4.57 %   4.72 %   5.51 %
    Stockholders’ equity to total assets     10.23 %   10.04 %   10.23 %   10.04 %
    Net interest spread     2.82 %   2.55 %   2.74 %   2.64 %
    Net interest margin     3.02 %   2.74 %   2.92 %   2.80 %
    Efficiency ratio     77.64 %   76.20 %   79.26 %   73.82 %
    Average interest-earning assets to average interest-bearing liabilities     110.25 %   110.28 %   110.38 %   110.24 %
                               
    SELECTED FINANCIAL DATA:                          
    Basic earnings per share   $ 0.28   $ 0.22   $ 0.69   $ 0.77  
    Diluted earnings per share   $ 0.28   $ 0.22   $ 0.68   $ 0.77  
    Book value per share   $ 19.37   $ 18.78   $ 19.37   $ 18.78  
    Shares used for basic EPS computation     6,679,808     6,919,397     6,753,060     6,968,353  
    Shares used for diluted EPS computation     6,732,794     6,935,053     6,796,743     6,981,223  
    Total shares issued and outstanding     6,653,822     6,896,297     6,653,822     6,896,297  
                               
    LOANS ORIGINATED FOR INVESTMENT:                          
    Mortgage loans:                          
    Single-family   $ 22,163   $ 8,946   $ 74,195   $ 30,058  
    Multi-family     4,087     5,865     15,772     17,586  
    Commercial real estate     1,135     2,172     2,760     8,047  
    Commercial business loans     500     1,250     550     1,250  
    Total loans originated for investment   $ 27,885   $ 18,233   $ 93,277   $ 56,941  
    PROVIDENT FINANCIAL HOLDINGS, INC.
    Financial Highlights
    (Unaudited – Dollars in Thousands, Except Share and Per Share Information)
                                     
        As of and For the  
        Quarter   Quarter   Quarter   Quarter   Quarter  
        Ended   Ended   Ended   Ended   Ended  
           03/31/25      12/31/24      09/30/24      06/30/24      03/31/24  
    SELECTED FINANCIAL RATIOS:                                
    Return on average assets     0.59 %   0.28 %   0.61 %   0.62 %   0.47 %
    Return on average stockholders’ equity     5.71 %   2.66 %   5.78 %   5.96 %   4.57 %
    Stockholders’ equity to total assets     10.23 %   10.25 %   10.31 %   10.21 %   10.04 %
    Net interest spread     2.82 %   2.74 %   2.66 %   2.54 %   2.55 %
    Net interest margin     3.02 %   2.91 %   2.84 %   2.74 %   2.74 %
    Efficiency ratio     77.64 %   81.15 %   79.06 %   72.31 %   76.20 %
    Average interest-earning assets to average interest-bearing liabilities     110.25 %   110.52 %   110.34 %   110.40 %   110.28 %
                                     
    SELECTED FINANCIAL DATA:                                
    Basic earnings per share   $ 0.28   $ 0.13   $ 0.28   $ 0.28   $ 0.22  
    Diluted earnings per share   $ 0.28   $ 0.13   $ 0.28   $ 0.28   $ 0.22  
    Book value per share   $ 19.37   $ 19.18   $ 19.15   $ 18.98   $ 18.78  
    Average shares used for basic EPS     6,679,808     6,744,653     6,833,125     6,867,521     6,919,397  
    Average shares used for diluted EPS     6,732,794     6,792,759     6,863,083     6,893,813     6,935,053  
    Total shares issued and outstanding     6,653,822     6,705,691     6,769,247     6,847,821     6,896,297  
                                     
    LOANS ORIGINATED FOR INVESTMENT:                                
    Mortgage loans:                                
    Single-family   $ 22,163   $ 29,583   $ 22,449   $ 10,862   $ 8,946  
    Multi-family     4,087     6,495     5,190     4,526     5,865  
    Commercial real estate     1,135     365     1,260     1,710     2,172  
    Construction     —     —     —     1,480     —  
    Commercial business loans     500     —     50     —     1,250  
    Total loans originated for investment   $ 27,885   $ 36,443   $ 28,949   $ 18,578   $ 18,233  
    PROVIDENT FINANCIAL HOLDINGS, INC.
    Financial Highlights
    (Unaudited – Dollars in Thousands)
                                     
           As of      As of      As of      As of      As of  
        03/31/25   12/31/24   09/30/24   06/30/24   03/31/24  
    ASSET QUALITY RATIOS AND DELINQUENT LOANS:                                
    Recourse reserve for loans sold   $ 23   $ 23   $ 23   $ 26   $ 31  
    Allowance for credit losses on loans held for investment   $ 6,577   $ 6,956   $ 6,329   $ 7,065   $ 7,108  
    Non-performing loans to loans held for investment, net     0.13 %   0.24 %   0.20 %   0.25 %   0.21 %
    Non-performing assets to total assets     0.11 %   0.20 %   0.17 %   0.20 %   0.17 %
    Allowance for credit losses on loans to gross loans held for investment     0.62 %   0.66 %   0.61 %   0.67 %   0.67 %
    Net loan charge-offs (recoveries) to average loans receivable (annualized)     — %   — %   — %   — %   — %
    Non-performing loans   $ 1,395   $ 2,530   $ 2,106   $ 2,596   $ 2,246  
    Loans 30 to 89 days delinquent   $ 199   $ 3   $ 2   $ 1   $ 388  
                                   
           Quarter      Quarter      Quarter      Quarter      Quarter
        Ended   Ended   Ended   Ended   Ended
        03/31/25   12/31/24   09/30/24   06/30/24   03/31/24
    (Recovery) recourse provision for loans sold   $ —     $ —   $ (3 )   $ (5 )   $ —
    (Recovery of) provision for credit losses   $ (391 )   $ 586   $ (697 )   $ (12 )   $ 124
    Net loan charge-offs (recoveries)   $ —     $ —   $ —     $ —     $ —
                           
           As of      As of      As of      As of      As of  
        03/31/2025   12/31/2024   09/30/2024   06/30/2024   03/31/2024  
    REGULATORY CAPITAL RATIOS (BANK):                      
    Tier 1 leverage ratio   9.85 % 9.81 % 9.63 % 10.02 % 9.70 %
    Common equity tier 1 capital ratio   19.01 % 18.60 % 18.36 % 19.29 % 18.77 %
    Tier 1 risk-based capital ratio   19.01 % 18.60 % 18.36 % 19.29 % 18.77 %
    Total risk-based capital ratio   20.03 % 19.67 % 19.35 % 20.38 % 19.85 %
                           
        As of March 31,  
           2025      2024  
           Balance      Rate(1)      Balance      Rate(1)  
    INVESTMENT SECURITIES:                      
    Held to maturity (at cost):                      
    U.S. SBA securities   $ 328   4.85 % $ 458   5.85 %
    U.S. government sponsored enterprise MBS     109,718   1.60     131,711   1.54  
    U.S. government sponsored enterprise CMO     3,571   2.13     3,802   2.16  
    Total investment securities held to maturity   $ 113,617   1.62 % $ 135,971   1.57 %
                           
    Available for sale (at fair value):                      
    U.S. government agency MBS   $ 1,119   4.72 % $ 1,274   3.72 %
    U.S. government sponsored enterprise MBS     482   6.91     570   6.05  
    Private issue CMO     80   6.10     91   4.96  
    Total investment securities available for sale   $ 1,681   5.41 % $ 1,935   4.46 %
    Total investment securities   $ 115,298   1.68 % $ 137,906   1.61 %

    (1) Weighted-average yield earned on all instruments included in the balance of the respective line item.

    PROVIDENT FINANCIAL HOLDINGS, INC.
    Financial Highlights
    (Unaudited – Dollars in Thousands)
                           
        As of March 31,  
           2025      2024  
           Balance      Rate(1)      Balance      Rate(1)  
    LOANS HELD FOR INVESTMENT:                      
    Mortgage loans:                      
    Single-family (1 to 4 units)   $ 545,377     4.66 % $ 517,039     4.39 %
    Multi-family (5 or more units)     429,547     5.47     457,401     5.14  
    Commercial real estate     75,349     6.63     83,136     6.36  
    Construction     837     11.00     2,745     8.81  
    Other     89     5.25     99     5.25  
    Commercial business loans     4,255     9.52     2,835     9.79  
    Consumer loans     52     17.50     60     18.50  
    Total loans held for investment     1,055,506     5.15 %   1,063,315     4.89 %
                           
    Advance payments of escrows     519           371        
    Deferred loan costs, net     9,532           9,183        
    Allowance for credit losses on loans     (6,577 )         (7,108 )      
    Total loans held for investment, net   $ 1,058,980         $ 1,065,761        
    Purchased loans serviced by others included above   $ 1,721     5.72 % $ 1,999     5.80 %

    (1) Weighted-average yield earned on all instruments included in the balance of the respective line item.

                           
        As of March 31,  
           2025      2024  
           Balance      Rate(1)      Balance      Rate(1)  
    DEPOSITS:                      
    Checking accounts – noninterest-bearing   $ 89,103   — % $ 91,708   — %
    Checking accounts – interest-bearing     248,392   0.04     275,920   0.04  
    Savings accounts     232,308   0.24     247,847   0.17  
    Money market accounts     21,640   0.16     26,715   0.41  
    Time deposits     309,876   3.57     265,932   3.89  
    Total deposits(2)(3)   $ 901,319   1.30 % $ 908,122   1.21 %
                           
    Brokered CDs included in time deposits above   $ 129,770   4.34 % $ 130,900   5.19 %
                           
    BORROWINGS:                      
    Overnight   $ 20,000   4.65 % $ —   — %
    Three months or less     22,500   4.17     59,500   5.28  
    Over three to six months     5,000   5.33     33,000   5.34  
    Over six months to one year     108,000   4.65     70,000   4.51  
    Over one year to two years     45,000   4.66     42,500   4.62  
    Over two years to three years     80   4.50     15,000   4.87  
    Over three years to four years     15,000   4.41     —   —  
    Over four years to five years     —   —     15,000   4.41  
    Over five years     —   —     —   —  
    Total borrowings(4)   $ 215,580   4.60 % $ 235,000   4.86 %

    (1) Weighted-average rate paid on all instruments included in the balance of the respective line item.
    (2) Includes uninsured deposits of approximately $162.2 million (of which, $57.1 million are collateralized) and $136.4 million (of which, $9.2 million are collateralized) at March 31, 2025 and 2024, respectively.
    (3) The average balance of deposit accounts was approximately $37 thousand and $34 thousand at March 31, 2025 and 2024, respectively.
    (4) The Bank had approximately $269.8 million and $269.2 million of remaining borrowing capacity at the FHLB – San Francisco, approximately $151.0 million and $172.7 million of borrowing capacity at the FRB of San Francisco and $50.0 million and $50.0 million of borrowing capacity with its correspondent bank at March 31, 2025 and 2024, respectively.

    PROVIDENT FINANCIAL HOLDINGS, INC.
    Financial Highlights
    (Unaudited – Dollars in Thousands)
                             
        For the Quarter Ended   For the Quarter Ended  
        March 31, 2025   March 31, 2024  
           Balance      Rate(1)      Balance      Rate(1)  
    SELECTED AVERAGE BALANCE SHEETS:                        
                             
    Loans receivable, net   $ 1,056,441     5.06 % $ 1,071,004   4.74 %
    Investment securities     118,431     1.55     141,390   1.46  
    FHLB – San Francisco stock and other equity investments     10,268     8.30     9,505   8.84  
    Interest-earning deposits     35,182     4.42     29,099   5.40  
    Total interest-earning assets   $ 1,220,322     4.73 % $ 1,250,998   4.41 %
    Total assets   $ 1,251,168         $ 1,281,975      
                             
    Deposits(2)   $ 885,032     1.26 % $ 910,781   1.18 %
    Borrowings     221,787     4.52     223,632   4.63  
    Total interest-bearing liabilities(2)   $ 1,106,819     1.91 % $ 1,134,413   1.86 %
    Total stockholders’ equity   $ 130,081         $ 130,906      

    (1) Weighted-average yield earned or rate paid on all instruments included in the balance of the respective line item.
    (2) Includes the average balance of noninterest-bearing checking accounts of $88.4 million and $91.0 million during the quarters ended March 31, 2025 and 2024, respectively. The average balance of uninsured deposits of $131.2 million and $139.0 million in the quarters ended March 31, 2025 and 2024, respectively.

                             
        Nine Months Ended   Nine Months Ended  
           March 31, 2025      March 31, 2024  
           Balance      Rate(1)      Balance      Rate(1)  
    SELECTED AVERAGE BALANCE SHEETS:                        
                             
    Loans receivable, net   $ 1,050,748     5.00 % $ 1,072,741   4.64 %
    Investment securities     123,983     1.52     147,445   1.42  
    FHLB – San Francisco stock and other equity investments     10,186     8.33     9,505   8.22  
    Interest-earning deposits     28,404     4.79     31,538   5.38  
    Total interest-earning assets   $ 1,213,321     4.67 % $ 1,261,229   4.31 %
    Total assets   $ 1,243,635         $ 1,291,902      
                             
    Deposits(2)   $ 876,176     1.25 % $ 921,905   0.99 %
    Borrowings     223,087     4.59     222,206   4.50  
    Total interest-bearing liabilities(2)   $ 1,099,263     1.93 % $ 1,144,111   1.67 %
    Total stockholders’ equity   $ 130,911         $ 130,686      

    (1) Weighted-average yield earned or rate paid on all instruments included in the balance of the respective line item.
    (2) Includes the average balance of noninterest-bearing checking accounts of $88.4 million and $98.9 million during the nine months ended March 31, 2025 and 2024, respectively. The average balance of uninsured deposits of $127.5 million and $139.1 million in the nine months ended March 31, 2025 and 2024, respectively.

    ASSET QUALITY:

                                   
           As of      As of      As of      As of      As of
        03/31/25   12/31/24   09/30/24   06/30/24   03/31/24
    Loans on non-accrual status                              
    Mortgage loans:                              
    Single-family   $ 925   $ 2,530   $ 2,106   $ 2,596   $ 2,246
    Multi-family     470     —     —     —     —
    Total     1,395     2,530     2,106     2,596     2,246
                                   
    Accruing loans past due 90 days or more:     —     —     —     —     —
    Total     —     —     —     —     —
                                   
    Total non-performing loans (1)     1,395     2,530     2,106     2,596     2,246
                                   
    Real estate owned, net     —     —     —     —     —
    Total non-performing assets   $ 1,395   $ 2,530   $ 2,106   $ 2,596   $ 2,246

    (1) The non-performing loan balances are net of individually evaluated or collectively evaluated allowances, specifically attached to the individual loans.

    The MIL Network –

  • MIL-OSI: Tyton Partners Releases New Report on Affordable Access Programs for Course Materials

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, April 28, 2025 (GLOBE NEWSWIRE) — Tyton Partners today released a new report, Course Materials in Higher Education: How Affordable Access Programs Save Students Money and Produce Positive Learning Outcomes. The publication, which presents data from 1,088 U.S. colleges and universities, was commissioned by the Association of American Publishers. This is the first in-depth analysis of affordable access programs in practice since their inception nearly a decade ago.

    The findings from Tyton Partners confirm that affordable access programs are helping students spend less on course materials while improving academic preparedness and outcomes—a notable contrast to the broader rise in higher education costs.

    “The data makes it clear: affordable access programs reduce costs, ensure students are prepared from day one, and support academic success,” said Chris McVety, Director at Tyton Partners.

    Affordable Access Programs: Lowering Costs, Improving Outcomes

    Affordable access programs—developed through partnerships between higher education institutions, publishers, and distribution providers—offer students timely access to required course materials at reduced prices. Students can apply financial aid toward these costs, reducing out-of-pocket expenses.

    In keeping with the objectives of federal regulations established in 2015, most institutions have implemented opt-out models, which provide numerous, measurable benefits, including providing seamless access to materials unless a student chooses to obtain the same materials elsewhere. Administrators report that this approach improves student preparedness and helps keep costs low:

    • A provost at a private, four-year university, called opt-out affordable access “a win-win” that permits students to “start their course with the right resources.”
    • An official at a public, two-year university, said, “We save students about $46 million per year.”

    Key findings from the report include:

    • Cost Savings – The average price per course under opt-out models decreased 36 percent, from $91 to $58 compared to standard list prices.
    • Improved Preparedness and Outcomes – Eighty-four percent of students in opt-out programs reported feeling better prepared, while 81 percent said these programs positively impacted their academic success. At one community college, students were 60 percent less likely to withdraw and 27 percent more likely to pass.
    • Stakeholders Prefer Opt-out, Concerned About Opt-in – Institutions using opt-in models reported lower student participation rates, limiting cost savings and timely access to materials. Many administrators expressed concerns that shifting to opt-in models would undermine affordability and equity, particularly for first-year and first-generation students.

    As colleges and universities continue to seek solutions that improve affordability and student success, affordable access programs have emerged as a proven model for reducing costs and increasing preparedness. The data underscores the effectiveness of opt-out models in delivering widespread benefits, from financial savings to improved academic performance. By ensuring students have the right materials from day one, these programs support equitable access to education and help institutions fulfill their mission of student success.

    Read the full report here.

    About Tyton Partners

    Tyton Partners is the leading provider of strategy consulting and investment banking services to the global knowledge and information services sector. With offices in Boston and New York City, the firm has an experienced team of bankers and consultants who deliver a unique spectrum of services from mergers and acquisitions and capital markets access to strategy development that helps companies, organizations, and investors navigate the complexities of the education, media, and information markets. Tyton Partners leverages a deep foundation of transactional and advisory experience and an unparalleled level of global relationships to make its clients’ aspirations a reality and to catalyze innovation in the sector. Learn more at tytonpartners.com. 

    The MIL Network –

  • MIL-OSI: MEXC DEX+ Unveils Upgrade: One-Click Wallet Access Redefines Web3 Trading

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 28, 2025 (GLOBE NEWSWIRE) — MEXC, a global leader in cryptocurrency trading, has upgraded the feature for MEXC DEX+, enabling users to register and log in seamlessly using external Web3 wallets such as MetaMask, Phantom, Trust Wallet, and TronLink. By leveraging wallet addresses as account identifiers, this innovation eliminates email or phone verification, delivering instant access to a unified CEX-DEX trading experience. Combining the robust liquidity of centralized exchanges (CEX) with the flexibility of decentralized exchanges (DEX), MEXC is redefining Web3 trading, empowering users worldwide to embrace the future of finance.

    Wallet as Identity: Seamless Trading Redefined

    MEXC DEX+’s external wallet registration feature prioritizes user experience, transforming the ease and flexibility of crypto trading. Key highlights include:

    • Sign Up and Trade in Seconds: Connect MetaMask, Phantom, Trust Wallet, or TronLink, sign, and create an MEXC account with a unique on-chain identity in just 3 seconds—no email or phone required.
    • Unified CEX-DEX Experience: Link an external wallet to manage CEX and DEX assets effortlessly. Move wallet assets to CEX for trading with one click, with trading tiers and VIP benefits syncing seamlessly across platforms.
    • Effortless Multi-Chain Trading: Support for SOL, BSC, Base, Tron, and more empowers users to capitalize on market opportunities across blockchains anytime, anywhere.

    Robust Security: Protecting Your Assets

    In the Web3 era, protecting users’ assets is critical. MEXC DEX+ delivers ironclad security through advanced, multi-layered defenses, ensuring users’ funds are safe and providing true peace of mind with a “wallet as identity” experience:

    • Three-Factor Security: Withdrawals require bot detection, two-factor authentication (via SMS, email, or Google Authenticator, choose two), and an on-chain signature for bulletproof account security.
    • Full Private Key Control: Users retain full control of their private keys, guaranteeing decentralized protection and complete account sovereignty.

    MEXC DEX+’s external wallet connection feature opens a decentralized trading gateway for all users including crypto novices or seasoned traders. It seamlessly integrates centralized exchange (CEX) liquidity with decentralized exchange (DEX) flexibility, enabling efficient Web3 trading with enhanced account security and control.

    “This upgrade strengthens MEXC’s commitment to Web3,” said Tracy Jin, COO of MEXC. “By connecting CEX and DEX, we are fostering a secure, user-friendly trading environment to support the global growth of decentralized finance.”

    Start trading today. Visit MEXC DEX+ to link your MetaMask, Trust Wallet, or other supported wallets.

    Reminder: Always connect your wallet through MEXC’s official channels and never share your seed phrase or private key.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 36 million users across 170+ countries and regions, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

    For more information, visit: MEXC Website｜X｜Telegram｜How to Sign Up on MEXC
    For media inquiries, please contact MEXC PR Manager Lucia Hu: lucia.hu@mexc.com

    Source

    Disclaimer: This is a paid post and is provided by MEXC. 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/df3f59f6-e809-44c6-9d85-ed6dcee42d2c

    The MIL Network –

  • MIL-OSI: Global Web3 Giants Bitget and Avalanche Join Forces to Boost Web3 Ecosystem in India

    Source: GlobeNewswire (MIL-OSI)

    NEW DELHI, April 28, 2025 (GLOBE NEWSWIRE) — Bitget, the world’s leading crypto exchange and web3 company announced a strategic collaboration with Avalanche®, the fastest and most reliable smart contracts platform in the world. Bitget and Avalanche are leaders in the field of digital asset trading and blockchain technology respectively and the partnership is aimed at leveraging the combined strength of both global brands to enable grassroots adoption of web3 technology.

    Avalanche is investing aggressively in the Indian region, working closely with more government agencies on welfare projects and rolling out a mini grants program to encourage builders of all stages to build on their platforms. Bitget’s Blockchain4youth program has pledged $10 million over 5 years offering scholarships, workshops and hackathons to the web3 community in India and across the globe. Bitget’s Blockchain4Her initiative is aimed at supporting women-led web3 projects in India and across the globe.

    The first leg of the program kicked off with the ‘HODL ON’ tour which conducted their first 2 meetup events in Delhi & Bangalore with the mutual agenda to boost education & knowledge about blockchain & cryptocurrencies in the region.

    Commenting on the development, Devika Mittal, Regional Head at Ava Labs, said India has a very robust web3 community. Our goal with events is to provide a space to any web3 enthusiast – whether in Delhi or Varanasi or anywhere else – to connect and build. She emphasized that in 2025 down the year lots of L1s are launching on avalanche & promising very strong activity from builders across the board is expected.

    Commenting on the development Jyotsna Hridyani, South Asia Head at Bitget, said “Empowering users with the right knowledge is essential to unlocking the full potential of blockchain in India’s digital future. At Bitget, we’re committed to bridging this gap through community programs, partnerships with universities, and accessible learning tools.”

    The goal of the partnership is to widen the reach for awareness across cities in India via more such events & workshops to educate the youth on the potential benefits & applications of blockchain technology. Bitget and Avalanche both have committed to partner for more such initiatives & investments for the rest of 2025.

    Global companies like Bitget and Avalanche are betting big on India as it is the world’s top nation in terms of crypto adoption and the second-largest market for web3 developers. India’s tech talent is capable of delivering world class web3 applications if supported by timely grants, experienced mentorship and global exposure. India is home to more than 1000 web3 startups and Bitget’s mission is to double this number in 2025 through dedicated funding and mentorship channels. The ‘HODL ON’ tour offers a unique platform for web3 startups in India to showcase their work and secure funding to succeed in their respective field.

    Commenting on the success of Delhi and Bangalore chapter Akshay Aggarwal, Co-founder & Leading Contributor, Blockchained India, added, “India, with its scale and digital depth, has a unique opportunity to shape how Web3 delivers real value — especially across consumer and enterprise applications. At Blockchained India, we’ve always believed that relevance is earned through consistent action — not noise. This is an inflection point. Let’s continue building with those who see long-term value and are committed to shaping what Web3 can truly become for the masses.”

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

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

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    About Avalanche
    Avalanche® is the fastest, most reliable smart contracts platform in the world. Its revolutionary consensus protocol and novel L1s enable Web3 developers to easily launch highly-scalable solutions. Deploy on the EVM, or use your own custom VM. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Avalanche® is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche uses Proof-of-Stake, which allows tens of thousands of validators to have a first-hand say in the system while consuming minimal energy. For more information, visit https://www.avax.network/

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36d45783-de7b-416e-90f7-362c8ccc1c3f

    The MIL Network –

  • MIL-OSI Russia: Salymbekov University and Polytechnic intend to launch joint double degree programs

    Translation. Region: Russian Federal

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

    A delegation from Salymbekov University (Kyrgyzstan), headed by President Amangeldi Zhumadilov, visited Peter the Great St. Petersburg Polytechnic University to discuss prospects for cooperation in education and science. The partners agreed to jointly implement educational programs, research projects, and academic exchanges aimed at training highly qualified specialists for high-tech sectors of the economy.

    The key topic of the negotiations was the creation of joint educational programs, including double degrees, in various areas of secondary vocational and higher education. The pilot areas planned for launch this fall include “Information Systems and Programming”, “International Logistics” and “International Business”, “Digital Enterprise Economics” and IT specialties. This is necessary in order to purposefully train highly qualified specialists in professions that are really in demand in the region.

    Vice-Rector for International Affairs of SPbPU Dmitry Arsenyev noted: We see great potential in cooperation with Salymbekov University. Specific projects that can be implemented in the short term are already being discussed. This indicates a high degree of mutual trust and interest in developing partnership.

    Director of the Institute of Industrial Management, Economics and Trade Vladimir Shchepinin emphasized: Our institute has unique experience in training specialists in economics and management, adapted to the real needs of industry. Joint programs with Kyrgyz colleagues will allow us to train personnel that are in demand not only in Kyrgyzstan, but also on the international market.

    The meeting discussed issues of organizing internships for students in Russian companies, developing programs for improving the qualifications of teachers, and developing cooperation in the field of biotechnology and biomedical systems. Representatives of Salymbekov University expressed interest in adapting SPbPU educational programs to train specialists in these promising areas.

    The colleagues agreed to develop a roadmap for cooperation, which provides for the exchange of curricula, joint research, and the organization of academic exchanges. The first student intake for joint programs is planned for September of this year.

    President of Salymbekov University Amangeldi Zhumadilov noted: Our university occupies a leading position in the national rankings of Kyrgyzstan and first place among the young universities of the country. Partnership with SPbPU is an important step in expanding international cooperation and improving the quality of Kyrgyz education.

    The visit ended with the signing of a memorandum of understanding, which laid the foundation for further joint work. The next step will be a detailed elaboration of mechanisms for implementing the agreed initiatives and the preparation of the necessary documents for launching the first joint programs.

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

    MIL OSI Russia News –

  • MIL-OSI: International Petroleum Corporation to release Q1 2025 Financial and Operational Results on May 6, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 28, 2025 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three months ending 31 March 2025, on Tuesday, May 6, 2025 at 07:30 CET, followed by an audiocast at 09:00 CET.

    Follow the 2025 first quarter financial and operating results presentation starting at 09:00 CET live on www.international-petroleum.com or using the link or dial in details below:

    Presentation Link: https://ipc.videosync.fi/2025-05-06-q1

    Dial in number(s) Stockholm: +46 (0) 8 5052 0424
      UK-Wide: +44 (0) 33 0551 0200
      USA Local: +1 786 697 3501
       
    Password Quote IPC when prompted by the operator
       

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50

    Or

    		 Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15
         

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    The MIL Network –

  • MIL-OSI Europe: Briefing – European Peace Facility – For Ukraine, but not only – 28-04-2025

    Source: European Parliament 2

    The European Peace Facility (EPF) was created in March 2021 as a funding instrument aimed at enhancing the EU’s ability to prevent conflicts, build and preserve peace, and strengthen international security and stability. The EPF rests on two pillars. The first is to fund EU military operations and missions under the common foreign and security policy. The second is to provide assistance to countries in the EU’s eastern neighbourhood, the Middle East and Africa to strengthen security in their respective regions. Following Russia’s all-out invasion of Ukraine in February 2022, the EU started using the EPF to rapidly deliver military aid to Ukraine. This support was provided alongside continued assistance to the EU’s eastern neighbourhood, as well as to partners in the Middle East and Africa. The EPF has a total financial ceiling of more than €17 billion for the 2021-2027 period. As the facility is an off-budget instrument, EU Member States contribute directly to it, based on the gross national income key. Currently, the EPF lacks fresh resources to continue supfporting Ukraine in facing the war. Furthermore, since March 2023, Hungary has refused to mobilise EPF funds in military aid to Ukraine. In line with the sanctions imposed on Russia in 2022, Russian assets held in EU banks were frozen. In May 2024, the Council of the EU allocated 90 % of the ‘windfall’ (extraordinary) profits from these frozen assets to the EPF. A first transfer of €1.5 billion from these profits to Ukraine took place in mid-2024. A second payment, possibly amounting to €2 billion, is expected in spring 2025. Given Hungary’s veto, the EU is looking for more reliable ways to continue assistance to Ukraine than by means of the windfall profits from the Russian assets channelled through the EPF. On 24 October 2024, the EU created the Ukraine Loan Cooperation Mechanism (ULCM) and issued an exceptional macro-financial assistance loan of €18.1 billion, the EU’s part of an EU-G7 syndicated loan to Ukraine totalling €45 billion. Starting after March 2025, 95 % of the windfall profits from the Russian assets held in EU banks will be allocated to the EU budget and channelled through the ULCM to Ukraine. The remaining 5 % will be allocated to the EPF. Beyond Ukraine, for which the EPF-funded approved military support amounts to approximately €10.6 billion, the EPF has an available budget of €6.4 billion to fund, until 2027, both the common costs of EU military missions and operations abroad – including its military assistance mission in support of Ukraine – and assistance measures for the armed forces of partner countries.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Yes vote on £2 overnight visitor charge in Liverpool

    Source: City of Liverpool

    A ballot on the proposal to alter Liverpool’s Accommodation BID Levy to a £2 per night charge per occupied bedroom/apartment has now concluded with the result that the proposal is approved.

    As such the charge will come into effect from 1st June 2025 on hotels or serviced accommodation which are subject to the levy (those businesses with a rateable value of £45,000 or above).

    The change was supported by 26 votes to 18 against on a 53% turnout.

    Liverpool City Council has now published notice of the ballot result which can be accessed at –https://liverpool.gov.uk/council/consultation-and-engagement/consultation-results/results-of-the-accommodation-bid-alteration-ballot-on-the-introduction-of-a-visitor-charge-in-liverpool/

    Councillor Harry Doyle, Liverpool City Council’s Cabinet member for Culture and Visitor Economy, said: “The “Yes” vote for an extension of the BID to create a visitor charge is a great vote of confidence in the growth of our successful visitor economy. I want to thank all the businesses that participated in the ballot. 

    “Their positive support delivers a huge boost to Liverpool’s tourism sector and our major events programme, supporting jobs and investment to benefit local people, and showing how Liverpool continues to offer a warm welcome to visitors from around the world.

    “This a positive step and lays solid foundations in our endeavour to formalise the establishment of a sustainable Tourism Tax, akin to what is being looked at in Glasgow and has already been introduced in other major European cities, which would be used to further strengthen our tourism offer.”

    MIL OSI United Kingdom –

  • MIL-OSI: XRP News: 24 Hours Left to Join XploraDEX $XPL Presale Before It Ends

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, April 28, 2025 (GLOBE NEWSWIRE) — This is it. The XploraDEX $XPL Presale, one of the most highly anticipated DeFi launches on the XRP Ledger, is entering its final 24 hours. The countdown has begun, and the last chance to secure $XPL at presale pricing is slipping away by the minute.

    XploraDEX has already captured the attention of the XRP community and beyond by introducing the first AI-powered decentralized exchange on XRPL. Blending intelligent automation, predictive analytics, and seamless trading execution, XploraDEX is setting a new standard for decentralized trading.

    Participate in $XPL Token

    With over 82% of the token allocation already claimed and token distribution in full swing, the final stretch is unfolding quickly. Investor demand is surging as latecomers scramble to get in before the presale window closes.

    What’s Happening Now:

    • Final 24 hours of the $XPL presale
    • Token distribution is nearly complete
    • Platform features—including staking and AI dashboards—ready to activate post-presale
    • Exchange listings will follow shortly after the presale concludes

    Buy $XPL Token Before Exchange Listing

    Early participants are positioning themselves ahead of the curve by securing:

    • Early access to AI trading intelligence
    • Premium staking rewards
    • Governance rights within the XploraDEX ecosystem
    • Discounted fees and launchpad benefits for upcoming XRPL projects

    This isn’t just another presale. This is your entry ticket to XRPL’s next-generation DeFi infrastructure.

    Purchase $XPL on Presale

    The XRP community is buzzing louder than ever. From Twitter threads to Telegram discussions, $XPL is the talk of the market—and investors who miss this window will only be able to join after the token hits live markets at a higher valuation.

    Don’t Miss Out:

    • 24 hours left to join
    • No extensions
    • No second rounds

    Once the presale ends, XploraDEX will transition into full activation mode—staking will open, governance votes will be introduced, and the AI-powered trading revolution will begin for early adopters.

    If you’ve been waiting for the right moment, this is it. After today, the opportunity to be early is gone.

    Secure Your $XPL Token Now Before the Presale Closes: https://sale.xploradex.io

    Live Updates on $XPL Token Launch: Website | $XPL Token Presale | X | Telegram

    Contact:
    Oliver Muller
    oliver@xploradex.io
    contact@xploradex.io

    Disclaimer: This press release is provided by the XploraDEX. 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/e2bb07d6-30b5-48ae-b982-c5bb697d41a3

    The MIL Network –

  • MIL-OSI United Kingdom: Millions of people and businesses protected against debanking

    Source: United Kingdom – Government Statements

    Press release

    Millions of people and businesses protected against debanking

    Protections will support small businesses to grow, putting more money into people’s pockets through the Plan for Change.

    • New rules will require banks to give customers 90 days’ notice before closing accounts and provide a clear explanation. 

    • Changes will prevent banks closing accounts without a clear reason, while giving people and businesses the time and information needed to challenge decisions.

    Millions of people and small business owners will be better protected against their bank account being closed, as the government goes further and faster to drive growth and delivers security for working people through the Plan for Change.  

    Banks and other payment service providers will be required to give customers at least 90 days’ notice before closing their account or terminating a payment service – an increase from the two months currently required – under new rules expected to come into force for relevant new contracts from April 2026.   

    Banks will also need to provide a clear explanation to customers in writing, so people can challenge decisions, such as through the Financial Ombudsman Service. 

    The new rules will give customers more time to challenge decisions they disagree with and find a new bank if their account is closed. This will support small businesses which have complained about their account being closed without reason at short notice – leaving them no time to complain or find a replacement bank.

    Economic Secretary to the Treasury, Emma Reynolds, said:

    Delivering economic security for working people is at the heart of our Plan for Change and strengthening protections against debanking will protect people’s and businesses’ access to banking services.   

    Under the new rules, customers will receive more notice of account closures, be entitled to an explanation as to why their account has been closed and have more opportunity to challenge such decisions.

    The nine largest personal current account providers in the UK are already legally required to offer basic personal bank accounts to people who legally reside in the UK who do not have or are not eligible for an account. The new rules will help to ensure continued access to basic banking services for the most vulnerable. 

    The legislation will support existing protections, including those which prohibit a bank from discriminating against a UK consumer based on political opinions or beliefs when accessing a payment account.  

    By ensuring a more predictable access to banking and other payment services, the government is reinforcing its commitment to the millions of individuals and businesses across the UK who rely on these vital services.

    More information

    The new legislation being brought forward subject to Parliamentary approval would apply to all payment service providers who decide to terminate payment service contracts without a definite expiry date, including bank account closures. They will apply to contracts agreed from and including 28th April 2026, when the legislation is expected to come into force.  

    The measures will be subject to certain exceptions, for example, to enable payment service providers to comply with their obligations under financial crime law.

    The new rules will also apply to the termination of basic personal bank accounts from and including 28th April 2026.

    Updates to this page

    Published 28 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Buckinghamshire events director sentenced for Covid fraud

    Source: United Kingdom – Government Statements

    Press release

    Buckinghamshire events director sentenced for Covid fraud

    Bounce Back Loan fraudster convicted following Insolvency Service investigations

    • William Blenkarn claimed he did not know he was not entitled to a second Bounce Back Loan for MJB Events Limited 

    • Blenkarn obtained double the amount of Covid support his company was entitled to as a result of his fraudulent declaration  

    • Money from the loan was then transferred to a new company Blenkarn had set up just weeks into the pandemic

    The owner of two Buckinghamshire-based events companies has been handed a suspended sentence after receiving £100,000 in Covid support funds when he was only entitled to half that figure. 

    William Blenkarn secured two Bounce Back Loans worth £50,000 each for his MJB Events Limited company, breaking the rules of the scheme which specifically stated that businesses could only have a single loan. 

    The 48-year-old then transferred £41,000 from the company’s bank account to his second business – MJB Entertainment Group Ltd – which had only been set up weeks before his fraudulent application. 

    Blenkarn, formerly of London End, Beaconsfield, but now living in Spain, was sentenced to two years in prison, suspended for 18 months, at Aylesbury Crown Court on Thursday 24 April. 

    He was also ordered to complete 200 hours of unpaid work. 

    David Snasdell, Chief Investigator at the Insolvency Service, said:

    William Blenkarn’s company received double the amount of public money it deserved due to his false declaration when applying for a second Bounce Back Loan. 

    This was taxpayers’ money and Blenkarn made matters worse by moving a significant proportion of the loan over to his new company which had only been trading for a few months.

    MJB Events was incorporated in January 2016 and was described as an events company. MJB Entertainment Group was set up in early April 2020. 

    Blenkarn told the Insolvency Service that MJB Entertainment Group was created to manage and book artists but developed into organising a range of charity events. 

    The company also described itself as providing additional services such as marquee design and wedding planning. 

    Blenkarn applied to two different banks for £50,000 Bounce Back Loans – the maximum allowed under the scheme – on behalf of MJB Events in May 2020. 

    For his second application, Blenkarn ticked the online declaration to certify that this was the only application made on behalf of the business. 

    Despite this, Blenkarn claimed he did not know that he could only apply for one loan for each company. 

    Two payments of £25,000 and £16,000 were then made to MJB Entertainment Group from the bank account belonging to MJB Events in July 2020. 

    These transactions left the MJB Events account overdrawn by around £25,000 at the time liquidators were appointed in June 2021, depriving creditors of the funds. 

    Blenkarn also breached his duties as a director by failing to deliver accounting records for MJB Events to the liquidator as he was required to do by law. 

    The Insolvency Service is seeking to recover the fraudulently obtained funds under the Proceeds of Crime Act 2002.

    Further information

    Updates to this page

    Published 28 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Euro area economic and financial developments by institutional sector: fourth quarter of 2024

    Source: European Central Bank

    28 April 2025

    • Euro area net saving was broadly unchanged at €838 billion in 2024, compared with four quarter period ending on third quarter of 2024
    • Household debt-to-income ratio decreased to 82.1% in 2024 from 85.0% one year earlier
    • Non-financial corporations’ debt-to-GDP ratio (consolidated measure) decreased to 67.2% in 2024 from 68.7% one year earlier

    Total euro area economy

    Euro area net saving was broadly unchanged at €838 billion (6.9% of euro area net disposable income) in 2024 compared with the four quarter period ending on the third quarter of 2024. Euro area net non-financial investment decreased to €434 billion (3.6% of net disposable income), due to decreased investment by households and non-financial corporations which more than offset increased net investments by financial corporations and general government (see Chart 1).

    Euro area net lending to the rest of the world was broadly unchanged at €431 billion reflecting the broadly unchanged net saving and the decrease in net non-financial investment being broadly matched by a decrease in net capital transfers. Net lending of non-financial corporations decreased to €173 billion (1.4% of net disposable income) from €202 billion while that of financial corporations was unchanged at €147 (1.2% of net disposable income). Net lending by households increased to €579 billion (4.8% of net disposable income) from €574 billion. Net borrowing by general government decreased, contributing less negatively to euro area net lending (-€469 billion or ‑3.9% of net disposable income, after -€489 billion).

    Chart 1

    Euro area saving, investment and net lending to the rest of the world

    (EUR billions, four-quarter sums)

    Sources: ECB and Eurostat.

    * Net saving minus net capital transfers to the rest of the world (equals change in net worth due to transactions).

    Data for euro area saving, investment and net lending to the rest of the world (Chart 1)

    Financial transactions can be presented with a counterpart sector breakdown for deposits, loans, debt securities, listed shares and investment fund shares (see Table 1). In 2024 the largest aggregated transactions in these financial instruments were interbank operations as other MFIs[1] reduced deposits with the Eurosystem (-€556 billion) while increasing investments with the rest of the world (€513 billion). Financial investment of households involved to a large extent transactions vis-à-vis other MFIs (€361 billion), mostly in the form of deposits, as well as net purchases of investment fund shares (€150 billion). Non-financial corporations’ largest financing component was from within the NFC sector (€117 billion), mostly in the form of loans and often reflecting intra-group transactions, while financing from other MFIs amounted to €102 billion. The financing of general government from the rest of the world, mostly in the form of debt securities, increased (€404 billion).

    Table 1

    Selected financial transactions* between sectors and with the rest of the world

    (EUR billions, four-quarter sums, 2024)

    Source: ECB.

    * Financial instruments for which the counterpart sector breakdown is available: deposits, loans, debt securities, listed shares and investment fund shares/units.

    Households

    Household financial investment increased at a broadly unchanged rate of 2.4% in the fourth quarter of 2024. Among its components, investment in currency and deposits (2.9%, after 2.5%) and investment in shares and other equity (1.9%, after 0.7%) grew at higher rates – the latter due to investment fund shares – while investment in debt securities increased at a lower rate (7.7%, after 16.4%).

    Households continued to purchase, in net terms, mainly debt securities issued by general government, MFIs, other financial institutions and the rest of the world (i.e. debt securities issued by non-euro area residents). Households were overall net buyers of listed shares, buying listed shares issued by non-financial corporations and the rest of the world, while selling predominantly listed shares of MFIs. Households increased their purchases of euro area investment fund shares, including those issued by MFIs (money market funds) and by non-money market investment funds, and continued to purchase investment fund shares issued by the rest of the world (see Table 2 below and Table 2.2. in the Annex).

    Table 2

    Financial investment and financing of households, main items

    (annual growth rates)

    Financial transactions

    2023 Q4

    2024 Q1

    2024 Q2

    2024 Q3

    2024 Q4

    Financial investment*

    1.9

    1.9

    2.2

    2.3

    2.4

    Currency and deposits

    0.7

    1.5

    2.3

    2.5

    2.9

    Debt securities

    55.2

    39.7

    28.9

    16.4

    7.7

    Shares and other equity**

    0.1

    0.0

    0.2

    0.7

    1.9

    Life insurance

    -0.5

    -0.0

    0.3

    1.0

    1.2

    Pension schemes

    2.0

    2.1

    2.1

    2.2

    2.2

    Financing***

    0.8

    0.9

    1.2

    1.4

    1.8

    Loans

    0.5

    0.5

    0.5

    0.9

    1.3

    Source: ECB.

    * Items not shown include: loans granted, prepayments of insurance premiums and reserves for outstanding claims and other accounts receivable.

    ** Includes investment fund shares.

    *** Items not shown include: financial derivatives’ net liabilities, pension schemes and other accounts payable.

    Data for financial investment and financing of households (Table 2)

    Chart 2 below shows the stock of selected financial assets held by households (in dark blue) vis-à-vis counterpart sectors, at the end of 2024, and with holdings of investment fund shares/units (14% of households’ financial assets) broken down by underlying asset and counterpart sector.[2] Households’ financial assets were mostly issued by financial intermediaries such as MFIs (42% of households’ financial assets), insurance corporations (23%), pension funds (12%) and the rest of the world (11%). Holdings of financial assets vis-à-vis non-financial corporations (8%), government (3%) and other financial institutions (2%), mainly in the form of listed shares and debt securities, represented much lower proportions of households’ financial assets.

    Chart 2

    Households’ financial assets by counterpart sector; selected financial instruments*

    Source: ECB.

    Notes: Discrepancies between totals and their components may arise from rounding.

    This chart refers to financial instruments for which the counterpart sector breakdown is available: deposits, loans, debt securities, listed shares and investment fund shares/units. In addition, the counterpart sector breakdown for insurance, pension and standardised guarantee schemes (F.6) is an estimate. (See the methodological note on the ECB’s website: Extension of the who-to-whom presentation to insurance and pension assets).

    The household debt-to-income ratio[3] decreased to 82.1% in the fourth quarter of 2024 from 85.0% in the fourth quarter of 2023. The household debt-to-GDP ratio declined to 51.5% in the fourth quarter of 2024 from 52.8% in the fourth quarter of 2023 (see Chart 3).

    Chart 3

    Debt ratios of households and non-financial corporations

    (percentages of GDP)

    Source: ECB and Eurostat.

    * Outstanding amount of loans, debt securities, trade credits and pension scheme liabilities.
    ** Outstanding amount of loans and debt securities, excluding debt positions between non-financial corporations.
    *** Outstanding amount of loan liabilities.

    Data for debt ratios of households and non-financial corporations (Chart 3)

    Non-financial corporations

    Financing of NFCs increased at a broadly unchanged annual rate of 0.9% in the fourth quarter of 2024, compared to the previous quarter. Net issuance of debt securities grew at a lower rate (1.4% after 2.3%) while financing via trade credits increased at a higher rate (3.9% after 2.8%). Financing via shares and other equity (0.4 after 0.6%) and loans (1.2% after 1.4%) increased at lower rates. Loans granted to NFCs by MFIs increased at a broadly unchanged rate (1.6%), and loans granted by other NFCs grew at an unchanged rate (2.4%). Loans granted by other financial institutions declined at a more negative rate (‑3.5% after -0.6%) mostly due to captive financial institutions (see Table 3 below and Table 3.2 in the Annex).

    Non-financial corporations’ debt-to-GDP ratio (consolidated measure) decreased to 67.2% in the fourth quarter of 2024, from 68.7% in the fourth quarter of 2023; the non-consolidated, wider debt measure decreased to 138.8% from 140.6% (see Chart 3).

    Table 3

    Financing and financial investment of non-financial corporations, main items

    (annual growth rates)

    Financial transactions

    2023 Q4

    2024 Q1

    2024 Q2

    2024 Q3

    2024 Q4

    Financing*

    0.8

    0.9

    1.0

    1.0

    0.9

    Debt securities

    1.3

    1.9

    2.9

    2.3

    1.4

    Loans

    1.6

    1.5

    1.3

    1.4

    1.2

    Shares and other equity

    0.3

    0.4

    0.7

    0.6

    0.4

    Trade credits and advances

    1.2

    1.5

    2.5

    2.8

    3.9

    Financial investment**

    1.6

    1.8

    2.0

    2.1

    1.8

    Currency and deposits

    -1.3

    0.2

    2.7

    1.7

    2.4

    Debt securities

    19.9

    8.5

    5.8

    1.7

    -0.1

    Loans

    4.1

    3.8

    3.7

    3.3

    2.6

    Shares and other equity

    0.9

    1.2

    1.0

    1.3

    0.9

    Source: ECB.

    * Items not shown include: pension schemes, other accounts payable, financial derivatives’ net liabilities and deposits.

    ** Items not shown include: other accounts receivable and prepayments of insurance premiums and reserves for outstanding claims.

    Data for financing and financial investment of non-financial corporations (Table 3)

    Chart 4 below shows the main components of the non-financial corporations’ debt (in dark blue) vis-à-vis counterpart sectors. At the end of 2024, the non-financial corporations’ debt in the form of loans and debt securities was held primarily by non-financial corporations (36%), MFIs (33%), other financial institutions (11%), and the rest of the world (11%).

    Chart 4

    The main components of NFC debt (loans and debt securities) by counterpart sector

    (2024 end of period stocks)

    Source: ECB.

    Discrepancies between totals and their components may arise from rounding.

    For queries, please use the statistical information request form.

    Notes

    • These data come from a second release of quarterly euro area sector accounts for the fourth quarter of 2024 by the European Central Bank (ECB) and Eurostat, the statistical office of the European Union. This release incorporates revisions and completed data for all sectors compared with the first quarterly release on “Euro area households and non-financial corporations” of 4 April 2025.
    • The euro area and national financial accounts data of non-financial corporations and households are available in an interactive dashboard.
    • The debt-to-GDP (or debt-to-income) ratios are calculated as the outstanding amount of debt in the reference quarter divided by the sum of GDP (or income) in the four quarters to the reference quarter. The ratio of non-financial transactions (e.g. savings) as a percentage of income or GDP is calculated as sum of the four quarters to the reference quarter for both numerator and denominator.
    • The annual growth rate of non-financial transactions and of outstanding assets and liabilities (stocks) is calculated as the percentage change between the value for a given quarter and that value recorded four quarters earlier. The annual growth rates used for financial transactions refer to the total value of transactions during the year in relation to the outstanding stock a year before.
    • Hyperlinks in the main body of the statistical release lead to data that may change with subsequent releases as a result of revisions. Figures shown in annex tables are a snapshot of the data as at the time of the current release.
    • The ECB publishes experimental Distributional Wealth Accounts (DWA) for the household sector. The release of results for the fourth quarter of 2024 is planned for 30 May 2025 (tentative date).

    MIL OSI Europe News –

  • MIL-OSI: Dubai’s Web 3.0 Momentum Accelerates as Global Stakeholders Gather for Unchained Summit

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, April 28, 2025 (GLOBE NEWSWIRE) — In the middle of the Gulf, something very deep is unfolding. Web 3.0 & Blockchain is no longer a buzzword; it’s a building block. And in Dubai, the future of Web 3.0 isn’t just coming; it’s being designed at pace. As crypto regulations come of age, institutional money pouring in, and industry giants establishing regional HQs, Dubai is quickly becoming the hub of the decentralized revolution.

    As the city gears up to host the much-awaited Unchained Summit at the Kempinski Central Avenue on 28th and 29th April, a tide of excitement is rolling over the region’s Web 3.0, Blockchain, and Digital Assets industries.

    The summit, hosted by Aeternum, promises more than an average Web 3.0 conference. It’s a high-conviction meeting of founders, investors, policy shapers, and enterprise leaders driving the frontiers of how decentralized infrastructure will transform identity, finance, and trust in the digital world.

    Dubai’s Web 3.0 momentum is no longer a whisper, it’s a global signal. As the world tilts toward decentralized infrastructure, Dubai has emerged as the nexus where policy, capital, and innovation come together. With government-backed regulatory clarity, enterprise-grade adoption, and a thriving ecosystem of startups and investors, the emirate is fast becoming the capital of the decentralized ecosystem. Unchained Summit is more than a symptom of this energy; it’s the driving force. The Dubai edition brings global architects of Web 3.0 together in one place, making Dubai a living laboratory for what the internet of value, trust, and autonomy really is.

    From builders to billionaires, Unchained Summit’s lineup of speakers include:

    • Ronghui Gu, Co-Founder, Certik
    • Ella Zhang, Head, YZi Labs
    • Kostas Chalkias, Co-Founder and Chief Cryptographer, Mysten Labs
    • Sreeram Kannan, Founder & CEO, EigenLayer
    • May Zabaneh, VP of Product – Blockchain, Crypto & Digital Currencies, PayPal
    • Greg Scanlon, VP Quantitative Blockchain, Franklin Templeton Digital Assets, Franklin Templeton
    • Keone Hon, Co-Founder, Monad Foundation
    • Lennix Lai, Global Chief Commercial Officer, OKX
    • Nils Andersen-Röed, Global Head of FIU, Binance, and more.

    “Web 3.0 is a collective movement, and Unchained Summit is where the next wave of builders and thinkers come together. We’re here to drive the conversation. Web 3.0’s growth hinges on infrastructure that can scale — it’s about throughput, cost-efficiency, and long-term sustainability. We’re proud to be at Unchained Summit, pushing the notion on sustainable blockchain designs,” said Abhijit Shukla, Founder of TAN Blockchain.

    Richard Ma, CEO & Founder of Quantstamp said, “I’m honored to be speaking at Unchained Summit, a premier event bringing together visionary leaders and innovators in the Web 3.0 ecosystem. At Quantstamp, we’re dedicated to securing the future of blockchain, and I look forward to sharing insights on advancing security, trust, and resilience within this rapidly evolving industry.”

    “Markets are moving on-chain—not just assets, but access, distribution, and users. We’re excited to be at Unchained Summit talking about what it takes to put real-world assets in the hands of real people,” said José F. Pereira, Executive Director, Own.

    “Web 3.0 moves fast—and the ones who show up shape where it goes. Unchained Summit brings together the doers, not just the talkers. At TBV, we’re here to back the founders turning big ideas into real traction,” said Tobias Bauer, General Partner, TBV.

    “Dubai is no longer just participating in Web 3.0, but it’s directing traffic,” says Sharath Kumar, Founder & CEO of Aeternum and organizer of Unchained Summit. “This is the one of the first real moments where we’re seeing decentralized technologies collide with institutional capital, national policy, and entrepreneurial energy—all in one city.”

    Unchained Summit’s official sponsors include:

    With increasing interest in industries ranging from AI-driven gaming to tokenized assets, Unchained Summit indicates a wider industry transition: Web 3.0 is increasingly finding its way into mainstream enterprise planning. And as a result of this, after its Dubai edition, Unchained Summit is set to make its India debut on 5th and 6th December 2025, reaffirming its commitment to bridge APAC, Middle Eastern, and European Web 3.0 & Crypto ecosystems.

    As the Dubai chapter draws to a close, one thing is certain: the decentralized future is no longer a distant prospect; it is happening already.

    Tickets for the Dubai edition are on sale on the official site: unchainedsummit.com

    About Aeternum Consulting Ltd:

    Aeternum organizes business-to-business events in the emerging tech space, provides strategic consulting, and tailored services to a diverse range of clients, from corporations to governments and startups to individuals. Aeternum specializes in crafting impactful B2B platforms that foster meaningful connections, drive business growth, and facilitate knowledge sharing through conferences, exhibitions, and bespoke networking opportunities.

    For more information visit: aeternuminc.com

    The MIL Network –

  • MIL-OSI Russia: AI technologies: artificial intelligence changes medicine and sports

    Translation. Region: Russian Federal

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

    The Polytechnic University hosted the tenth seminar on artificial intelligence. Participants discussed the prospects and problems associated with the implementation of AI technologies.

    The invited guest of the event was Denis Pegansky, the head of a company from Omsk that creates and promotes products using AI technologies in medicine, sports and physical rehabilitation. He spoke about the results achieved and the development prospects of this area.

    Denis Pegansky also heads the Agency of Sports Technologies, where specialists develop methodologies and tools for using neural networks and deep learning to solve problems. Among them are the identification and monitoring of various patterns (biomechanics of movements, stereotypes of habitual poses, etc.), forecasting trends, as well as adaptive management in healthcare, physical rehabilitation and sports.

    For example, in hockey, proprietary algorithms are used to identify players, game moments and exercise types, to calculate exercise performance indicators, analyze the training process and build a movement standard. In figure skating, a pressing task is to calculate the angles of an athlete’s turn when performing a jump, which will help the jury evaluate the correctness and quality of the elements, and the performers – to improve their skills. In Russia and abroad, there are already similar systems based on computer vision, but so far they are very expensive and have a high percentage of error. To improve the quality of such neural network technologies, large datasets and new technical developments are needed. Denis Pegansky’s company is working to ensure that only one video camera is used to assess a person’s physical condition and calculate his movements.

    Another area of work is the creation of an original method for assessing the parameters of movements of patients with neurological diseases and diseases of the musculoskeletal system. Based on certain parameters, the neural network draws conclusions about the patient’s condition and assesses the effectiveness of his treatment and rehabilitation. Based on the data, the doctor develops personalized recommendations.

    The seminar participants asked the expert questions related to the formation of databases, the use of verified sources, and the promotion of technologies. Vice-Rector for Research at SPbPU Yuri Fomin noted that the Polytechnic University has similar projects that have commercialization potential, and they need to be developed, including by joining forces with companies already operating in the market.

    Professor of the Higher School of Service and Trade of SPbPU Sergey Barykin also spoke at the seminar. He spoke about his experience of studying AI technologies in China and about the prospects for the development of hypernetworks of financial and material flows in the platform hybrid metauniverse of logistics and service.

    IT advisor of the continuous education foundation “University of Development” Elena Konik presented her vision of the development of artificial intelligence in the context of mathematical analysis and the possibilities of AI technologies, in particular, for the protection of personal data.

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Building a robust ecosystem for Green and Sustainable Finance in India – Valedictory address delivered by Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India – April 17, 2025 – at Credit Summit 2025 organised by the Bharat Climate Forum at New Delhi

    Source: Reserve Bank of India

    Distinguished guests, participants, ladies and gentlemen, Good afternoon

    At the outset, let me thank the organisers for inviting me and giving me an opportunity to deliver the valedictory address and share some of my thoughts on a subject which continues to engage national as well as global attention. I believe there would have been fruitful deliberations on the topics of green and sustainable finance and the role of financial institutions, opportunities and challenges, aligning of regulatory and policy worlds, facilitating global financing, and integration of climate change aspects in credit risks of the financial institutions. Each of these topics require detailed deliberations and collectively they form the building blocks for creation of a robust ecosystem for green and sustainable finance for the economy and financial system at large.

    2. The critical enablers to attract green and sustainable investments that need to be put in place for financial ecosystem has been and continues to be a subject of deliberations at various fora be it G20 Sustainable Finance Working Group, the international standard setting bodies such as the Basel Committee on Banking Supervision, the International Sustainability Standards Board as well as the Financial Stability Board, and the Network for Greening the Financial System. These enablers range from adoption of a national green/ climate finance taxonomy, globally aligned disclosure standards for climate related financial risks, and robust assurance and verification process. Green and sustainable finance being a niche area, requires us to be mindful of greenwashing risks. Moreover, there are certain inherent risks and conditions that need to be met from the risk-reward perspective in green and sustainable lending/ investment decisions. Let me delve a bit into these aspects and try to build a narrative on how we can collectively build and develop a robust ecosystem for green and sustainable finance in India.

    The Green and Sustainable Finance Taxonomy

    3. When we talk of green and sustainable finance, the primary consideration is understanding as to what defines it. A national level taxonomy is crucial as it serves as the first building block that aligns the entire ecosystem, be it the government, regulators, other policy makers, financial institutions and borrowers/investors. This is under development in India. You are aware that an announcement to this effect was made by the Hon’ble Finance Minister in the Budget Speech for 2024-25. Meanwhile, we at Reserve Bank of India have till this juncture used the Sovereign Green Bonds (SGrB) framework for mapping of the green and sustainable sectors. This was also used when we issued a Framework on acceptance of Green Deposits in April 2023, which aligns with the SGrB framework towards identification of the green sectors. Thus, as a robust ecosystem enabler, the first building block would be a national level taxonomy for identification of the sectors and alignment of various regulatory dispensations along this taxonomy.

    Consistent and harmonised Regulatory approach

    4. The second building block would be a consistent and harmonised regulatory approach towards assessment of climate change risks and fostering of related financing. The climate change risks, and the related issues are sector agnostic, with significant inter-dependencies. To ensure that the net zero target announced by the Hon’ble PM at COP26 in 2021 is achieved by 2070, it would require players in the economy and financial system to fine-tune their respective actions/ measures, so that as a country, we can achieve this target. It would also require a consistent and harmonised approach among the concerned regulators and authorities.

    Assurance and Verification Function

    5. The next building block would be the development of robust assurance and verification functions. Assessment of climate related financial risks, green and sustainable finance are context specific, with need for a clear and objective demonstration of end use of funds. Transparency and related checks and balances that provide assurance on end use of the funds related to green and sustainable finance is extremely important. Given the technical expertise needed for assurance on climate related aspects, as well as adherence to benchmark assurance standards, there is a need to ensure credibility of this assurance and verification process. This would mean defining the requirement of consistent standards detailing expertise and skills that any assurer or verifier must possess to provide these services. A consistent approach across the financial system on the processes would provide confidence to the investors, which would then operate as a key enabler for increased flow of credit to the relevant sectors while addressing concerns around risks of greenwashing.

    Transparency and Disclosures

    6. The fourth aspect is the need for transparency in climate related disclosures. This is essential for financial institutions to assess and manage climate related financial risks, ensure transparency, and support long-term financial stability. It also underscores the need for coherence among various sectors on disclosure aspects. To give an example, if a financial institution is to make any lending or investment decision or assess its portfolio risks, or is mandated to make climate related financial disclosures, then it must depend on the borrowers to provide the requisite information. This means not just putting in place an enabling mechanism for both the lender and the borrower but also having consistency across the financial system for seamless flow of data and information. The Reserve Bank of India had published a draft “Disclosure framework on Climate-related Financial Risks”, in February 2024 for public consultation. The draft guidelines require Regulated Entities to make qualitative and quantitative disclosures with respect to climate related financial risks based on four broad areas, viz., (i) governance (ii) strategy (iii) risk management and (iv) metrics and targets. We have received comprehensive feedback on the framework basis which the guidelines are being finalised.

    Complexities of climate change modelling and data considerations

    7. Another area where consistency and harmonisation are required is compilation of data. For purpose of climate related financial risk, assessment and related facets of green and sustainable finance, be it transition or adaptation finance, data is very crucial. One of the limitations for climate risk assessment at this juncture is the need for technical expertise coupled with unique data requirements. Climate related data, understanding nuances of the climate patterns and the impact on account of climate change, is a highly technical and skilled job. Climate scientists across the world use super computers to study climate and weather patterns and its related aspects. It involves complex modelling and is resource intensive. If we depend on a financial sector expert, who uses financial modelling for assessing quantitative estimates and then arrive at the financial sector impact, this expertise alone may not suffice. The two skill sets needed for climate scenario analysis and climate finance risks are completely different in that as climate scientists are not experts in financial modelling and financial modellers have limited expertise in area of climate science. This makes the job of assessment of impact of climate change risks on financial sector more difficult and would therefore require collaboration amongst the two.

    8. Given the impact of climate change risks, viz., physical and transition risks and the impact it has on the value of real assets and financial instruments, understanding these risks is crucial for lenders or investors from a risk-reward perspective. Thus, for uniform and consistent assessment of risks across the financial system, the aspect of disclosure and data becomes crucial. This will remove the misalignment of information between borrowers and lenders/ investors and not only allow a fair assessment of climate change risks but also foster green and sustainable finance.

    9. As a part of this endeavour, Reserve Bank had in the monetary policy statement of October 2024, announced the formation of Reserve Bank – Climate Risk Information System (RB-CRIS). It is envisaged to bridge data gaps and provide standardised datasets to the Regulated Entities (REs) on three aspects – Physical Risk Data, Transition Risk Data, and Carbon Emission Factor Database. The physical risk data part would focus on providing pan-India hazard and vulnerability data. As regards the transition risk, the plan is to arrive at India specific transition scenarios and use them to provide sectoral benchmark transition pathways. Finally, recognising the need to standardise the emission calculation across the sectors, a consistent approach towards carbon emission methodology and the uniform database is also being proposed. Under RB-CRIS, the RBI intends to bring all the stakeholders together and bring coherence and bridge the existing data gaps.

    Climate change and credit risks

    10. Climate change risks impact the financial institutions, financial system and real economy through the traditional risk categories and one risk factor that prominently stands out is credit risk. Climate change would lead to additional operational costs for the borrowers with an increased possibility of loss of their assets, leading to increased probability of default by the borrowers. The real economy is also impacted through various means such as direct property losses, crop losses, loss of employment and livelihood losses. Another facet of credit risk in climate change emanates from the need to promote green and sustainable financing. The fact that the net-zero technologies driving the transition to decarbonisation, are at various developmental and evolving stages, itself signifies a significant increase in credit risks. Thus, there is a dichotomy wherein on one hand there is a need for incentivising green and sustainable finance and on the other there is an increase in inherent risks from encouraging such financing. So, the key issue is how to manage this dichotomy? While the prudential aspect, i.e., the risk management consideration, is the prime concern for any regulator, the flow of credit is generally market determined albeit mandated at times through specific directed lending policies. Therefore, a delicate balancing act needs to be performed by the regulators to avoid any imbalance from the broader financial stability perspective.

    Challenges to Green and Sustainable Finance and Global Financing

    11. Challenges to green and sustainable finance are many. However, they can be broadly categorised in two specific buckets – one is the structural issues while the other relates to the quantum of financing available. From the structural perspective, the main challenges would be, high-upfront capex requirements given the specific nature of required project loans/ investments; perceived high inherent risks given the evolving nature of climate related technologies; asset liability mismatches which is ubiquitous to any lending/ investing activity, more so in case of project loans given the longer maturity, commencement and gestation timelines; and knowledge and information gaps, given the technical nature of assessment of climate change risks and appraisal of climate related technologies.

    12. As to the quantum of financing available, there are various pull and push factors at work, in the context of global capital mobilisation. The global capital stock of lending/ investments flows also follows a risk-reward perspective. The pull factors are the specific domestic enablers which may drive investor appetite. This would be a function of robustness of the financial ecosystem, liquidity, and depth of the financial markets, transparency and disclosure standards, rigour of verification and assurance mechanism, development and dissemination of risk assessment models for climate-related risks, data and capacity gaps, long-term strategy on transition plans, and availability of pool of bankable projects. The push factors would be the global commitment of funds for climate related funding. The recent geo-political developments could possibly lead to the weakening of these push factors. This is a developing story and there is a need to closely monitor the wider implications. Given the huge requirement for funding of the green transition, the availability of global funds remains critical.

    13. The inherent risks in the green and sustainable finance, skews the risk-reward considerations leading to increased cost of credit. This leads to demand by private sector investors/ lenders for appropriate derisking mechanisms through grants/ guarantees/ philanthropic capital/ financial incentives, etc. Mobilising such capital on scale, would be a challenge. A related issue is the availability of bankable projects. Though, bankable projects invariably find credit, there are funding challenges with partially bankable and non-bankable projects. As you all may be aware, there are two aspects of climate change finance we need to consider, one is mitigation and other is adaptation. Mitigation is used for transition purpose and adaptation for resilience purpose. Financing in case of mitigation can be associated with cash flows, but it becomes difficult for adaptation and resilience, as the associated cash-flows are difficult to assess leading to sub optimal capital flows towards sustainable investments in resilient infrastructure and adaptation.

    Augmenting green and sustainable finance

    14. Given these limitations, there is a need for concerted efforts to overcome these challenges and augment green and sustainable finance. This would require a multi-pronged approach. Blended finance, which combines concessional public funding with private sector investment can be one of the main conduits of the credit flow by de-risking climate related projects. India is a diverse country, with varying needs of climate mitigation and resilience, meaning, a coastal area would require a differentiated approach as compared to the regions near the Himalayas. We would need practical implementable solutions, curated to specific issues. Tools like guarantees, sustainability-linked loans, and climate-resilient bonds could be explored to further enhance private sector involvement.

    15. The problem of climate change needs scalable solutions, and it cannot come by entirely relying on public funds. There is thus a need to develop a market wherein the risk-reward perspective itself takes care of the scale of requirements. Even within adaptation space, there are pockets which can be associated with cash flows. Climate change risks and financing needs to be viewed also as an opportunity. Innovative solutions which not only mitigate financial risks associated with climate change but also incentivise private investors to participate in climate projects need to be explored.

    16. Developmental Financial Institutions (DFIs) would have to play a major role in channelising the flow of credit for green and sustainable finance. There is a need for more collaboration between DFIs, Multilateral Development Banks (MDBs), National Development Banks (NDBs) and Vertical Climate and Environmental Funds (VCEFs). Given the current geo-political developments, with the world moving to a multi-polar world, there is a need for certain reforms within the MDBs as well greater representation from/ credit to the global south.

    17. Technology and innovation would play a major role in mitigation of climate change risks while creating a robust ecosystem for green and sustainable finance in the country. This requires developing a platform that would bring together the REs and technology solution providers, to facilitate an orderly development of required technological solutions to mitigate climate related risks and overcome the current limitations and foster sustainability linked credit flow. The Reserve Bank has on April 09, 2025, included sustainable finance and climate risk mitigation as a topic under the Theme Neutral “On Tap” application facility under the Regulatory Sandbox which could help develop and test innovative solutions.

    The Way Forward

    18. One term which often finds mention in global context has been “inter-operability”. While as a concept, inter-operability seems ideal in a just and equal world, in these times in a world with stark inequalities, mandating inter-operability with similar level of commitments, may not be the ideal way and there is a need for a differentiated approach. The Emerging Markets and Developing Economies (EMDEs) have started this journey to achieve seamless integration and inter-operability. However, there is yet some distance to be covered. Though, historical examples from high-income countries demonstrate the potential to decouple economic growth from emissions, for EMDEs this would require strong international co-operation, significant investments, and effective policies. Further, any transition from carbon intensive economy to a greener economy is not a smooth ride and there are going to be disruptions be it restructuring, reallocation of resources and financial flows as also displacement of workers and have a bearing on land use. Thus, as we traverse this journey there is a need for delicate balance to ensure that socio-economic implications are carefully considered and addressed.

    19. Going forward, we would also need to arm our respective organizations with skilled manpower and technical expertise to spearhead the transformation in addressing the challenges of climate change. With this end in view, Reserve Bank has been conducting extensive capacity building programmes for the REs. The focus has been on bringing international experts to share their experience on green and sustainable financing, stress testing and scenario analysis, credit risk assessment, transition planning, physical risk assessment, and global best practices for governance, strategy and risk management.

    Conclusion

    20. India occupies a unique position in the global climate context. As one of the world’s fastest-growing economies, it faces the dual challenge of fostering and sustaining economic development while addressing climate change. On the one hand, it is highly vulnerable to climate risks while on the other hand, it has the potential to lead the global green transition. While we have made a fair start, there are several challenges that remain to be addressed. The risk management architecture in REs for climate related financial risks is still evolving and further concerted efforts are required. Further, a comprehensive assessment on the extent of losses that may be caused due to climate change risks in the future requires more granular approach. There is a need to build technical expertise and competencies for comprehensive assessment and mitigation of climate change risks. There is also a need for a more harmonised and coherent regulatory approaches across various sectors so that the sectoral dependencies may be addressed in an efficient manner. While the need for the world to transition to a greener tomorrow is given, there are several challenges on the way, and they need to be addressed in a holistic manner. We also need a collaborative and sensitive approach to address the various issues given the impact on the economies and the societies at large. I am confident seminars such as these give an opportunity to further the work to achieve these objectives.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI China: China to keep RMB exchange rate at reasonable, balanced level: central bank

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

    BEIJING, April 28 — China will maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, Zou Lan, deputy governor of the People’s Bank of China (PBOC), told a press conference on Monday.

    The U.S. announcement of tariff hikes on multiple economies has triggered sharp fluctuations in the global financial market, Zou said. However, China’s financial market has demonstrated strong resilience and operated smoothly, he added.

    For a long time, China’s investment concerning foreign exchange reserves in the international financial market has oriented toward safety, liquidity, and preservation and appreciation, and the investment portfolio has been effectively diversified, he said.

    The impact of changes in a single market and a single asset on China’s foreign exchange reserves is generally limited, Zou noted.

    China has a solid economic foundation, an essentially balanced international payment sheet, and a resilient foreign exchange market, which will continue to provide strong support for maintaining the basic stability of the RMB exchange rate, he said.

    In the next step, the PBOC will continue to implement a moderately loose monetary policy and intensify support for the real economy. It will also strengthen the resilience of the foreign exchange market, stabilize market expectations, enhance market management, and prevent the RMB exchange rate overshoot, Zou added.

    MIL OSI China News –

  • MIL-OSI: Atos announces the appointment of Marie de Scorbiac as Head of Investor Relations and CSR

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    Atos announces the appointment of Marie de Scorbiac as Head of Investor Relations and CSR

    Paris, France – April 28, 2025 – Atos Group today announces the appointment of Marie de Scorbiac as head of investor relations and CSR. Her mission will be to define and implement the Atos Group’s financial reporting strategy and develop its relations with shareholders, investors and financial analysts. She will also oversee Atos’s CSR strategy in favor of a secure and decarbonized digital world, creating sustainable value for all its stakeholders.

    Before joining Atos, Marie de Scorbiac was vice president of investor relations, public affairs, sustainability, and group financial planning and analysis. She was notably responsible for investor relations and CSR at Adevinta, the global leader in online classifieds for consumer goods, mobility, real estate and employment.

    From 2011 to 2019, Marie de Scorbiac was head of investor relations and financial communication of listed companies in Paris: Areva and then Elior Group.

    With a master’s degree in economic and social information from the University of Paris Dauphine, Marie started her career as a financial analyst at Thomson and Deutsche Bank.

    Philippe Salle, chairman and chief executive officer of Atos Group, said: “I am delighted to welcome Marie to the Atos Group management team. Her expertise and in-depth knowledge of financial markets will be key in developing and consolidating our relationships with the financial community. I wanted to bring investor relations and CSR under the same department, as I am convinced of the positive impact of Atos’s social and environmental commitment on its long-term performance.”

    ***

    About Atos

    Atos is a global leader in digital transformation with c. 74,000 employees and annual revenue of c. € 10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 68 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Press contact | globalprteam@atos.net

    Attachment

    The MIL Network –

  • MIL-Evening Report: Big and small spending included in Labor costings, but off-budget items yet to be revealed

    Source: The Conversation (Au and NZ) – By Stephen Bartos, Professor of Economics, University of Canberra

    The federal budget will be stronger than suggested in last month’s budget, according to Treasurer Jim Chalmers who released Labor’s costings on Monday.

    Many of the policies included in the costings were already detailed in either the 2025 Budget or the Pre-Election Fiscal Outlook, so are shown as having a net zero cost.

    But that does not mean they are costless. It means simply that their costs were included in previously published budget updates.

    Monday’s media announcement is akin to the reconciliation table published in each update, prepared by the Treasury and Finance departments setting out how the numbers have changed.

    It seems likely this media release drew on the same methodology.

    It includes two savings measures. One is relatively small: $700 million from increasing the visa application charge for primary student visas. The big saving is $6.4 billion from further reducing spending on consultants, contractors, labour hire, and non-wage expenses such as travel, hospitality and property.

    Travel, hospitality and property expenses are small bikkies. Undoubtedly departments could make savings on these, but they won’t get anywhere near the total. The bulk of the savings will come from reducing spending on consultants and contractors.

    Labor has shown that such savings on consultants are possible; it did it in its first term. However, counterbalancing this, we saw increased spending on the public service.

    It is the same problem as with the Coalition’s promise to make savings by cutting public servants. Without cuts to programs and activities, work remains to be done. People have to be employed to do that work, leading either to more spending on the public service (Labor) or bringing back consultants (Coalition).

    There was no independent signoff suggesting Monday’s release included all of Labor’s policy announcements. We won’t get that until the Parliamentary Budget Office does its election commitments report.

    But this full list of costings is not released by the PBO until well after the election. This is either 30 days from the end of the caretaker period or seven days before the new parliament first sits, whichever comes later.

    However, Monday’s costings release does appear comprehensive, including not only the large headline announcements but several announcements of less than a million dollars a year.

    What are missing, though, are costings of items that are off-budget because they are balance sheet adjustments – for example, the reduction in student HECS debt.

    These do have a financial impact but due to their accounting treatment are not disclosed as hitting the budget balance. Ideally, these should be disclosed as well.

    Stephen Bartos 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. Big and small spending included in Labor costings, but off-budget items yet to be revealed – https://theconversation.com/big-and-small-spending-included-in-labor-costings-but-off-budget-items-yet-to-be-revealed-255425

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Millions of families to benefit from lower school uniform costs

    Source: United Kingdom – Government Statements

    Press release

    Millions of families to benefit from lower school uniform costs

    Government to cut school uniform costs for around 4.2 million children, saving families an estimated £73 million per year.

    Parents of over four million children are set to benefit from lower school uniform costs, new government analysis has found.

    As the government’s landmark Children’s Wellbeing and Schools Bill proceeds in the House of Lords this week, analysis shows new laws will wipe over £70 million off the cost of uniform for families across the country.

    It comes as a new survey shows a third of parents are still worried about uniform costs, with one in five schools said to have actually increased the number of branded items required over the past year.

    While currently schools are required to ‘limit’ the number of branded items they require, today’s survey shows almost half are not doing so.

    Parents are having to pay £442 on average to kit a child out for secondary school, and £343 for primary school, putting unnecessary financial pressure on families.

    To cut those costs for families and break down barriers as part of the government’s Plan for Change, new proposed laws will limit the number of branded, typically more expensive, items schools can require to three – excluding ties.

    Lowering uniform costs is just one of the measures in the Children’s Wellbeing and Schools Bill, which will strengthen safeguards for vulnerable children, put more money back in parents’ pockets including through free breakfast clubs, and bring every school up to the standard of the best.

    Education Secretary, Bridget Phillipson, said:

    Looking smart at school shouldn’t cost the earth, and no parent should be forced to choose between buying family essentials and a school shirt or tie.

    Alongside our free breakfast clubs, these new laws will save parents hundreds of pounds a year, and make sure family finances have no bearing on children’s time at school.

    This bill is about keeping children safe, saving parents money and bringing every school up to the standard of the best, so we can break down barriers to opportunity and deliver our Plan for Change.

    The new uniform laws will save parents £50 a year in their back-to-school shop, which alongside the measure to introduce free breakfast clubs in all schools, will put £500 back into the pockets of parents. 

    Today’s analysis shows parents of an estimated 4.2 million pupils across 8,000 schools will have more flexibility to choose where they purchase their school uniform with the introduction of the cap.

    Uniform can create a sense of identity and pride for pupils but it can also be a source of anxiety and in some cases even impacts school attendance.

    Lynn Perry MBE, CEO of Barnardo’s, said:

    Barnardo’s welcomes the cap to the number of branded uniform items required by schools. It cannot be right that children are going to school wearing ill-fitted clothes or shoes due to the high cost of uniforms – but, as high prices continue to impact families, it’s yet another essential item that parents are struggling to afford.

    We look forward to seeing even bolder action in the upcoming child poverty strategy to tackle the number of children growing up in poverty.

    Existing statutory guidance on school uniform means all schools must consider and aim to minimise the cost on parents – but the new cap on branded items will take this even further.

    This government is determined to deliver on its Plan for Change to break the link between background and success – because a child’s background should not be what shapes their future.

    DfE media enquiries

    Central newsdesk – for journalists 020 7783 8300

    Updates to this page

    Published 28 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Virtune AB (Publ) is launching Virtune Stellar ETP on Nasdaq Stockholm

    Source: GlobeNewswire (MIL-OSI)

    Stockholm, 28th of April 2025 – Virtune, a Swedish regulated digital asset manager, is announcing the launch of Virtune Stellar ETP on Nasdaq Stockholm, the largest stock exchange in the Nordic region. 

    About Virtune Stellar ETP
    Virtune Stellar ETP provides exposure to Stellar (XLM). Like all of Virtune’s exchange-traded products, Virtune Stellar ETP is 100% physically backed and fully collateralized, is denominated in SEK for the Nordic audience and is available through brokers and banks including Avanza and Nordnet.

    Key Information about Virtune Stellar ETP:

    • 1:1 exposure to Stellar (XLM)
    • 100% physically backed by Stellar (XLM)
    • 1.95% annual management fee

    Virtune Stellar ETP

    • Full name: Virtune Stellar ETP 
    • Short name: Virtune Stellar
    • Ticker: VIRXLM
    • Trading currency: SEK
    • First day of trading: Monday 28th of April 2025
    • ISIN: SE0024417356
    • Stock exchange: Nasdaq Stockholm

    About Stellar
    Stellar (XLM) is a digital asset developed to enable fast, low-cost international payments, particularly focused on serving unbanked populations and facilitating currency exchange. The project was founded by Jed McCaleb, who also co-founded Ripple (XRP), and is now run by the non-profit Stellar Development Foundation.

    Christopher Kock, CEO of Virtune: 
    “We are proud to announce the continued expansion of our product offering – this time with the launch of a Stellar ETP. The product provides investors with a simple and secure way to gain exposure to one of the most prominent projects in the crypto market. Stellar enables fast and cost-effective transactions and has the potential to play a key role in providing financial services to people in emerging markets, where traditional banking systems are still lacking.

    As with our other products, we partner with leading institutions such as Coinbase, as custodian, and Flow Traders, as market maker – to ensure a robust and reliable product structure.”

    If you are an institutional investor interested in exploring the potential of our current and upcoming ETPs for your discretionary asset management or wish to learn more about Virtune and our product offering, please feel free to contact us. Visit www.virtune.com for more information, and register your email address on our website to receive updates on upcoming ETP launches and other news related to crypto assets.

    Press contact
    Christopher Kock, CEO Virtune AB (Publ)
    christopher@virtune.com
    +46 70 073 45 64

    Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges. With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.

    Crypto investments are associated with high risk. Virtune does not provide investment advice; investments are made at your own risk. Securities may increase or decrease in value, there is no guarantee of getting back invested capital. Read the prospectus, KID, terms at virtune.com.

    The MIL Network –

  • MIL-OSI: eQ PE XVII US has raised USD 168 million

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    28 April 2025, 10:00 am

    eQ Asset Management has raised USD 168 million for the eQ PE XVII US fund in the beginning of 2025. Fundraising for the eQ PE XVII US fund will continue throughout 2025.

    eQ PE XVII US invests in private equity funds whose strategy is to make equity investments in private small and medium-sized companies in the United States and Canada. The fund’s portfolio will consist of 12–15 funds, mainly sector-specialized, through which the fund will be diversified across more than 150 companies in various industries, states and by vintage. The fund will also make co-investments.

    eQ started its co-operation with RCP Advisors, located in Chicago, in 2015. The current fund is the sixth US fund raised in this partnership. RCP, founded in 2001, is a highly experienced and well-resourced private equity manager, specializing in lower middle market North American funds. Altogether, eQ has raised USD 1.2 billion for its US funds from over 200 clients.

    In addition, during late 2024 and early 2025, eQ has signed private equity programmes totalling over EUR 330 million. Including the capital of current private equity programmes, the total capital is approximately EUR 1 billion. Private equity programmes are typically 4–5 year solutions, offering clients not only a comprehensive PE portfolio managed by eQ, but also transparent reporting and reduced portfolio administration through a single-line balance sheet item.

    Staffan Jåfs, Head of Private Equity, comments:
    “Although the M&A market has been less active than usual for nearly two years, the small and mid-cap segment has still seen more new investments and exits compared to the larger end of the market. We believe the lower middle market segment offers attractive investment opportunities across cycles, as entry valuations and leverage are typically lower, value creation is operational, with cash-only exits to industrial buyers or larger PE funds. Our portfolios primarily consist of service companies focused on domestic markets. Our partnership with RCP is extensive, and this new fund offers our investors access to a highly attractive market via top-tier portfolio funds.”

    At the end of 2024, eQ Asset Management had EUR 13.4 billion in assets under management, of which EUR 3.3 billion was in eQ’s private equity funds. eQ alternates annually between launching European and North American funds. eQ’s private equity funds are intended for professional investors only.

    Helsinki, 28 April 2025

    eQ Asset Management Ltd

    Further Information:

    Staffan Jåfs, Head of Private Equity, eQ Asset Management Ltd
    +358 (9) 6817 8736, staffan.jafs@eQ.fi 

    eQ is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets. The share of the group’s parent company eQ Plc is listed on Nasdaq Helsinki. More information about the group is available on our website at www.eQ.fi.

    The MIL Network –

  • MIL-OSI: Synergy by AccessFintech transforms Settlement Netting efficiency in global fixed income markets

    Source: GlobeNewswire (MIL-OSI)

    LONDON, April 28, 2025 (GLOBE NEWSWIRE) — Synergy, the network driven by data and intelligence by AccessFintech, announces the launch of Settlement Netting, transforming operational efficiency in the fixed income markets. Synergy by AccessFintech captures data from a wide range of asset classes, including securities, derivatives, alternatives, and payments, enabling seamless data transformations across network participants. This solution promotes real-time transparency and cross-market collaboration across the entire post-trade lifecycle, using advanced data pairing to improve pre-matching accuracy and reduce fail rates. Leveraging cloud-native infrastructure, Synergy streamlines workflow processes, generates actionable insights, and resolves exceptions in real time, optimizing post-trade efficiency.

    J.P. Morgan and Citi were instrumental in the establishment of the service, with J.P. Morgan contributing to the use case and both Citi and J.P. Morgan providing valuable input and refinement for the solution. An industry working group with key repo market participants has helped to deliver the design of the common data model, market structure considerations, and operational workflow. Initially piloting its netting programme in the €15 trillion EMEA repo market, Synergy’s AI-driven insights and data model centrally matches transaction details across trading counterparties, removes the operationally burdensome spreadsheets currently used to calculate netting obligations, and promotes secure counterparty communication through structured queries via API or UI. This significantly improves fail rates, reduces asset movements, and reduces transaction costs associated with fixed repo settlements. Synergy has also deployed innovative AI-based intelligence – with the ability to generate settlement netting candidates real time – and utilizes historical data to inform counterparty behaviour on data elements such as performance against settlement obligations and amendment rates.

    “We have partnered very closely with AccessFintech on this collaboration solution as we believe it will transform the smooth operation of the repo market,” said Anthony Fraser, Global Head of Prime Financial Services Operations at J.P. Morgan. “Integrating J.P. Morgan’s best-in-class operating model and workflow tools with AccessFintech’s state-of-the-art technology enables us to establish a model of standardization, transparency and seamless communication. We’re committed to delivering solutions which drive enhanced settlement efficiency and result in better outcomes for our clients.”

    “We are pleased to bring this important collaboration solution to the repo market with AccessFintech. We remain intensely focused on creating solutions that enhance our clients’ investment performance and success,” said Jaime Healy-Waters, Global Head of Cash Equity Middle Office and EMEA Cash Securities Settlements at Citi.

    The launch of Settlement Netting expands AccessFintech’s Synergy platform, enhancing its capability to drive data transparency through advanced normalization, visualization, and seamless access to comprehensive transaction data. Settlement netting also allows Synergy clients to leverage its global data platform to net obligations across repos, TBAs, cash transactions, and other asset classes to increase operational efficiency and maximize liquidity. Synergy is also uniquely positioned to streamline interactions between clients and custodians and eliminate manual intervention by sending instructions via API to custodians.

    Tom Granelli, Head of Netting Product, Synergy at AccessFintech said: “We are continuously driving industry transformation to prepare and strengthen market operations for the future. We remain intensely focused on creating solutions that enhance our clients’ investment performance and success. Settlement Netting is another example of our deployment of the transformative Synergy network, enabling the ecosystem to magnify their operational effectiveness and reduce unnecessary manual processes.”

    About Synergy by AccessFintech

    Synergy by AccessFintech is a network driven by data and intelligence that transforms post-trade collaboration. Connecting the global capital markets ecosystem, Synergy integrates buy-side, sell-side, order management systems, and vendors, supporting a growing network of over 250 active members. The platform facilitates real-time data transformation across a wide range of asset classes, including securities, derivatives, alternatives, and payments. Built on modern, cloud-native architecture with an API-first approach, Synergy is designed for scalability and flexibility, offering seamless integration with existing technologies. By leveraging AI-driven insights, Synergy improves operational efficiency, resolves exceptions faster, and reduces manual intervention, driving innovation and value across the financial ecosystem. For further information please go to accessfintech.com or follow us on LinkedIn 

    Media Contacts

    Eterna Partners for AccessFintech

    accessfintech@eternapartners.com

    +44 (0) 7442 230170

    The MIL Network –

  • MIL-Evening Report: Peter Dutton calling the ABC and the Guardian ‘hate media’ rings alarm bells for democracy

    Source: The Conversation (Au and NZ) – By Denis Muller, Senior Research Fellow, Centre for Advancing Journalism, The University of Melbourne

    In front of a crowd of party faithful last weekend, Opposition Leader Peter Dutton referred to the ABC, Guardian Australia and other news platforms as “hate media”. The language was extreme, the inference being these outlets were not simply doing their jobs, but attacking him and his side of politics because of ideological bias.

    Speaking at a Liberal Party campaign rally in the Melbourne western suburb of Melton, Dutton said:

    Forget about what you have been told by the ABC, The Guardian and the other hate media. Listen to what you hear [at] doors. Listen to what people say on the pre-polling. Know in your hearts that we are a better future for our country.

    Melton is in the Labor-held seat of Hawke, which the Liberals believe they can win.

    Dutton provided no evidence to support his accusation, for the good reason that there has been nothing in the ABC’s or Guardian Australia’s coverage of Dutton that could remotely justify it.

    By a process of elimination, the “other hate media” to which he referred can only be The Age and The Sydney Morning Herald, given the News Corporation mastheads have been unflagging in their support for him throughout the campaign.

    What has been common to the campaign coverage by the ABC, Guardian Australia, The Age and the SMH has been close scrutiny of both sides and both leaders.

    The three newspapers in particular have put renewed resources into independently fact-checking claims made by both Dutton and Prime Minister Anthony Albanese, and have caught out both men telling falsehoods.

    The broadcast news media on the whole have played it straight, except of course for Sky News after dark, which has been as relentlessly pro-Coalition as their News Corp newspaper stablemates.

    Beyond these professional mass media platforms, there have been clearly partisan social media influencers working on both sides, as well as a range of podcasters, but none of these has been guilty of hate speech towards Dutton or anyone else.

    The inescapable conclusion is that Dutton equates scrutiny of him by journalists with hate speech.

    This is where his attitude becomes dangerous to democracy. It comes straight from US President Donald Trump’s playbook, where the professional mass media are “fake news” and the “enemy of the people”.

    It is designed to play not just on people’s longstanding distrust of the news media in general – though not of the ABC – but on some voters’ sense of grievance at the way governments have treated them.

    This worked for Trump in the United States, but it became obvious early in the campaign that any association with Trumpism was a strong political negative in Australia, particularly in the atmosphere of alarm generated by his tariff war.

    Dutton then took pains to distance himself from Trumpism, and at the Liberal launch in Western Australia his face was a picture of alarm when Jacinta Nampijinpa Price, whom he had appointed to the Trumpian-sounding post of shadow minister for government efficiency, used the slogan “Make Australia Great Again”.

    But it is typical of his incoherent campaign that at the start of the last week he should be echoing the Trumpian view of the media in such extreme terms, creating even more instability. In an ABC interview, his shadow minister for finance, Jane Hume, refused to support him, saying “that wouldn’t be a phrase I would use”.

    It also raises legitimate questions about how Dutton would treat the media should he become prime minister. For example, if a media platform refused to obey his wishes, or provide him with coverage of which he approved, would its representatives be excluded from prime ministerial access?

    Not long ago, such a proposition would have been inconceivable, but Trump banned the Associated Press (AP) from presidential access because it would not obey his instruction to rename the Gulf of Mexico the Gulf of America. A federal judge later found the ban violated the First Amendment, and ordered AP’s access to be restored.

    It is very improbable Dutton would even try to impose his will on the commercial media in Australia, especially the newspapers.

    In fact, Guardian Australia has turned his remark into a fundraising opportunity. It emailed subscribers with the subject line “A note from the ‘hate media’,” comparing Dutton’s language to that of Trump, and asking for financial support to keep holding figures like Dutton to account.

    But his potential to punish the publicly funded ABC is another matter.

    From statements he has made during the campaign, it seems certain the ABC would be in for more funding cuts and an investigation into its operations of the kind Trump has launched into America’s National Public Radio.



    Read more:
    What would – and should – happen to the ABC under the next federal government?

    Coalition prime ministers going back to John Howard have had a hostile relationship with the ABC. Howard stacked the ABC board, and the panel that nominates its members, with ideological mates.

    In the eight years from 2014 to 2022, under the Coalition governments of Tony Abbott, Malcolm Turnbull and Scott Morrison, $526 million was cut from the ABC’s budget.

    During that time, there was also a series of inquiries into the ABC, set up to satisfy politicians with a beef against the ABC, notably Pauline Hanson.

    The day after Dutton’s “hate media” statement, the ABC’s 4 Corners program revealed he failed for two years to disclose he was the beneficiary of a family trust that operated lucrative childcare businesses when he was a cabinet minister.

    This is unlikely to improve his view of the national broadcaster. He may even see it as more hate. In fact, it is just good journalism.

    Denis Muller and Nicole Chvastek will discuss this further on their Truth, Lies and Media podcast on Wednesday April 30.

    Denis Muller 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. Peter Dutton calling the ABC and the Guardian ‘hate media’ rings alarm bells for democracy – https://theconversation.com/peter-dutton-calling-the-abc-and-the-guardian-hate-media-rings-alarm-bells-for-democracy-255412

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Best Online Casinos 2025: 7Bit Casino Rated As Top Real Money Casino

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Ore., April 28, 2025 (GLOBE NEWSWIRE) — The online gambling world is growing rapidly, making it tough to choose the best online casino from so many options. Players everywhere want secure, rewarding, and diverse gaming experiences, but the number of choices can be confusing. Our team of experts reviewed dozens of casinos, looking at licensing, game variety, bonuses, payout speeds, and user experience.

    After thorough testing, 7Bit Casino was ranked as the best online casino for 2025, offering a perfect combination of features that make it the best casino online for players around the world.

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    7Bit Casino has secured the top spot as the best online casino site through our comprehensive global analysis. Here’s why it stands out.

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    Visa, Mastercard, and Maestro are accepted, with instant deposits. Withdrawals take 1-3 days, standard for fiat methods. Cards are popular for their familiarity, though fees may apply (typically 2-3%).

    E-Wallets

    Skrill, Neteller, and EcoPayz provide instant transactions, combining speed and security. E-wallets are favored for not requiring direct bank details, with no fees on most transactions.

    Bank Transfer

    Suitable for large withdrawals, bank transfers are secure but slower, taking 3-5 days. Fees may apply, and minimum withdrawals are higher ($50).

    Transaction Limits

    Minimum deposits are $10 or 0.0005 BTC, accessible for all budgets. Maximum withdrawals are $4,000 per transaction, though VIPs can negotiate higher limits.

    7Bit’s diverse, fast, and secure payment options make it the best casino site leader, ensuring players can focus on gaming, not transactions.

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    Responsible Gambling at 7Bit Casino

    As a best casino online, 7Bit Casino prioritizes player safety with a robust suite of responsible gambling tools to prevent problematic behavior and promote healthy gaming habits.

    • Deposit Limits: Players can set daily, weekly, or monthly caps on deposits to manage spending. This tool helps budget-conscious players avoid overspending, ensuring gambling remains enjoyable.
    • Loss Limits: Loss limits restrict the amount players can lose over a set period (e.g., daily or weekly). Once reached, play is paused until the period resets, preventing chasing losses.
    • Wagering Limits: These cap total bets within a timeframe, helping players control risk and maintain disciplined gambling habits, especially during high-stake sessions.
    • Session Time Limits: Players can limit playtime per session. When the limit is reached, they’re logged out, encouraging breaks and balancing gaming with other activities.
    • Cooling-Off Periods: Temporary account suspensions (24 hours to months) allow players to step back from gambling, ideal for those needing a break to reassess habits.
    • Reality Checks: Pop-up notifications alert players to their session duration (e.g., every 30 minutes), fostering awareness and prompting breaks to avoid excessive play.

    These measures make 7Bit the best online casino for player welfare.

    VIP Program at 7Bit Casino

    7Bit Casino’s 12-level VIP program rewards loyalty with Comp Points (CPs) earned at a rate of 1 CP per $12.5 wagered on real-money bets (Wisergamblers). Progression through levels unlocks escalating benefits, enhancing the best online casino experience.

    • Earning CPs: Every real-money bet contributes to CPs, tracked in the player’s account. Slots typically earn CPs faster than table games due to higher house edges.
    • Level Benefits:
      • Levels 1-3: 10-50 free spins on select slots (e.g., Starburst).
      • Levels 4-6: $10-$50 cash bonuses with 30x wagering.
      • Levels 7-9: 10-15% cashback and exclusive tournament access.
      • Levels 10-12: Personalized offers, priority withdrawals (under 10 minutes), and dedicated account managers.
    • Additional Perks: Higher levels offer birthday bonuses, higher withdrawal limits, and invitations to VIP-only events.

    The program’s transparency and tangible rewards make 7Bit the best casino site choice for loyal players seeking long-term value.

    Tournaments and Competitions

    7Bit Casino keeps excitement high with regular tournaments, offering players chances to win cash, free spins, and crypto prizes.

    • Daily Drop Tournaments: Held daily with 0.5-1 BTC prize pools, these focus on specific slots or table games. Players earn points based on wins or bets, with top leaderboard finishers (e.g., top 10) sharing prizes. Example: A slot tournament on Book of Dead might award 100 free spins to the winner.
    • Special Event Tournaments: Tied to holidays or milestones, these feature larger pools (up to 10 BTC). Themes like “Christmas Jackpot” or “Summer Spin Fest” include curated game lists, with prizes for top 50 players. Participation requires playing qualifying games during the event period.
    • How to Join: Opt-in via the tournaments page, play eligible games, and track progress on real-time leaderboards. No entry fees apply, making it accessible.

    These events add competitive thrill, positioning 7Bit as a top casinos online destination.

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    Why 7Bit Stands Out Globally

    7Bit Casino’s global appeal stems from its accessibility and player-centric features, making it the best online casino:

    • Multilingual Interface: Supports English, German, French, Russian, Italian, Japanese, and more, ensuring players from diverse regions can navigate easily. The interface auto-adjusts to the user’s language, enhancing usability.
    • Diverse Currencies: Offers fiat (EUR, USD, AUD, CAD, NOK, PLN, NZD) and crypto (BTC, ETH, LTC, DOGE, USDT, XRP) options, eliminating conversion hassles. Players can switch currencies seamlessly.
    • VPN Accessibility: In restricted regions, 7Bit permits VPN use, allowing secure access without compromising account integrity. This is ideal for players in jurisdictions with gambling bans.
    • Crypto Gaming Focus: Over 4,000 Bitcoin-based games, like BTC Blackjack and Bitcoin Roulette, cater to crypto enthusiasts. These games leverage blockchain for transparency, appealing to tech-savvy players.

    These features make 7Bit the best casino online for a global audience, combining flexibility, security, and innovation.

    Mobile Gaming at 7Bit Casino

    7Bit Casino’s mobile platform is a standout feature, offering a seamless best online casino experience on iOS and Android devices. The responsive website, built with HTML5, ensures all 10,000+ games are accessible without a dedicated app. Players can enjoy slots, live dealer games, and instant win titles on the go, with intuitive navigation and fast load times. Mobile banking supports instant crypto transactions, and 24/7 support is available via live chat, making 7Bit a best casino sites leader for mobile gaming.

    7Bit Casino Conclusion: The Best Online Casino

    After evaluating global platforms, 7Bit Casino is the best online casino for 2025. Its 10,000+ games, from slots to live dealers, cater to all preferences, powered by top providers like NetEnt and Evolution Gaming.

    The 325% welcome bonus up to 5.25 BTC + 250 free spins, plus ongoing promotions, delivers unmatched value. Instant crypto payouts, robust security via Curacao licensing and SSL encryption, and 24/7 support via live chat and email (support@7bitcasino.com) ensure a seamless experience. Responsible gambling tools and a 12-level VIP program further elevate 7Bit as the top online casino for real-money gaming worldwide.

    Frequently Asked Questions

    • What makes 7Bit Casino the best online casino?

    7Bit Casino excels with over 10,000 games, a 325% bonus up to 5.25 BTC, 250 free spins, instant crypto payouts, and robust security, making it ideal for global players.

    • Is 7Bit Casino licensed and secure?

    Licensed by Curacao eGaming, 7Bit Casino uses 128-bit SSL encryption and provably fair algorithms, ensuring a safe and fair gaming environment for all players.

    • What bonuses does 7Bit Casino offer?

    7Bit Casino provides a 325% welcome bonus up to 5.25 BTC, 250 free spins, plus reload bonuses, cashbacks, and free spins for ongoing player rewards.

    • Can I play 7Bit Casino games on mobile?

    7Bit Casino’s mobile-optimized platform supports iOS and Android, offering seamless access to 10,000+ games for gaming on the go.

    • What payment methods does 7Bit Casino accept?

    7Bit Casino supports Bitcoin, Ethereum, Litecoin, Visa, Mastercard, Skrill, and more, with instant crypto withdrawals and flexible fiat options.

    • Does 7Bit Casino require KYC verification?

    KYC is required for withdrawals over $2,000 at 7Bit Casino, involving photo ID and address verification to ensure security.

    • Are there country restrictions at 7Bit Casino?

    7Bit Casino is restricted in some regions; players should review terms to confirm eligibility, as access varies by jurisdiction.

    • How fast are withdrawals at 7Bit Casino?

    Crypto withdrawals at 7Bit Casino are instant, while fiat withdrawals via Visa or bank transfer take 1-3 days for processing.

    • What games are available at 7Bit Casino?

    7Bit Casino offers slots, blackjack, roulette, poker, live dealer games, and instant win titles, with 10,000+ options for all players.

    • Why is 7Bit Casino the best real money online casino?

    7Bit Casino leads with its vast game selection, generous bonuses, instant payouts, and robust security, making it the top choice for real-money gaming.

    Email: support@7bitcasino.com

    Legal Disclaimer

    This content is for informational and entertainment purposes only and is not legal, financial, or gambling advice. Information is presented “as is,” with no warranties on accuracy or completeness. Readers must verify information and ensure compliance with local gambling laws. The publisher and authors are not liable for losses or consequences from using this information.

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