NewzIntel.com

Category: Economy

  • MIL-OSI Economics: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Karmala Urban Co-operative Bank Limited, Solapur – Withdrawal of Directions

    Source: Reserve Bank of India

    The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Karmala Urban Co-operative Bank Ltd., Solapur vide Directive CO.DOS.SED No.S2729/12-07-005/2022-23 dated July 29, 2022 for a period of six months up to the close of business on January 29, 2023. The same were modified from time to time and were last extended up to the close of business on April 29, 2025.

    2. After reviewing the financial position of the bank, the Reserve Bank of India on being satisfied that in the public interest it is necessary to do so and in exercise of the powers vested in it under sub-section (2) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 hereby withdraws the Directions issued to The Karmala Urban Co-operative Bank Ltd., Solapur with effect from the close of business on April 09, 2025.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/66

    MIL OSI Economics –

  • MIL-OSI China: China releases white paper on China-US economic, trade relations

    Source: China State Council Information Office 2

    China’s State Council Information Office on Wednesday released a white paper titled “China’s Position on Some Issues Concerning China-U.S. Economic and Trade Relations.”
    The Chinese government issued the document to clarify the facts about China-U.S. economic and trade relations, and elaborate the position of the Chinese side on relevant issues, according to the white paper.
    The white paper came as rising unilateralism and protectionism in the United States have significantly impeded normal economic and trade cooperation between the two countries.
    Since the beginning of trade friction in 2018, the U.S. side has imposed tariffs on Chinese exports worth more than 500 billion U.S. dollars, and has continuously implemented policies aimed at containing and suppressing China. Recently, the United States levied comprehensive additional tariffs on Chinese products, including tariffs citing the fentanyl issue as the pretext, “reciprocal tariffs,” and an additional 50 percent on existing tariffs.
    These measures — revealing the isolationist and coercive nature of U.S. conduct — run counter to the principles of the market economy and multilateralism, and will have serious repercussions for China-U.S. economic and trade relations, the white paper said.
    In response to the U.S. moves, China has taken forceful countermeasures to defend its national interests, and has remained committed to resolving disputes through dialogue and consultation, with multiple rounds of consultations with the U.S. side to stabilize bilateral economic and trade relations, according to the document.
    The Chinese side has always maintained that China-U.S. economic and trade relations are mutually beneficial and win-win in nature, the white paper said.
    As two major countries at different stages of development with distinct economic systems, it is natural for China and the United States to have differences and frictions in their economic and trade cooperation. It is crucial to respect each other’s core interests and major concerns, and find proper solutions to resolve the issues through dialogue and consultation, according to the document.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Rollout begins on new Employment Support programme with £40 million boost to West London.

    Source: United Kingdom – Executive Government & Departments

    Press release

    Rollout begins on new Employment Support programme with £40 million boost to West London.

    West London will today become the first of 47 areas across England and Wales set to receive dedicated five-year funding aimed at helping disabled people and those with health conditions and additional support needs into work. 

    • West London becomes first area granted funding as part of DWP’s ‘Connect to Work’ programme, which will ultimately support 100,000 people per year. 

    • The £42.8 million cash injection will fund five years of support for local disabled people and those with health conditions, and complex barriers to employment to find a suitable pathway into a job. 

    • Follows record £1 billion employment support package, announced by Work and Pensions Secretary last month, to unlock work for sick and disabled people, encourage financial independence, and boost living standards as part of the government’s Plan for Change.

    West London will today become the first of 47 areas across England and Wales set to receive dedicated five-year funding aimed at helping disabled people and those with health conditions and additional support needs into work.  

    As many as 100,000 people a year are set to receive tailored support nationally – including one-to-one employment advice and skills development – as rollout begins of Connect to Work, a new programme dedicated to help those facing some of the greatest barriers to work.

    Over the next five years, a partnership of Local Authorities in West London will receive a total of £42.8 million to provide targeted help to up to 3,500 people by:

    • matching people with job opportunities that suit their needs and circumstances,
    • providing essential skills training to help people get into and on at work,
    • working with employers to recruit and retain disabled workers. 

    West London will receive almost £9 million of the £115 million already committed to run the programme in its first year – a downpayment on their full five-year deal, allowing local leaders to hit the ground running on tackling inactivity in their area.   

    Work and Pensions Secretary Rt. Hon Liz Kendall MP, said: 

    As part of our Plan for Change we are fixing the broken welfare system – getting more people into work, putting more money in people’s pockets, and putting the benefits bill on a sustainable footing.

    The welfare system we inherited has shut too many talented people out of the workplace – with no support, no prospects, and no opportunities.

    We are changing this. That’s why I’m delighted to see our Connect to Work programme kick off, with over £40 million of funding so local leaders in West London can give people in their area the tools they need to get in and on at work in a way that’s right for them.

    The Work and Pensions Secretary is set to visit a community hub in Shepherd’s Bush to meet people already helped into work by West London’s existing support offer, including: 

    • Arman who had to step away from his job as a bookmaker due to his mental health. With support from West London Alliance Programme, he attended mental health workshops, got help to boost his CV, and found volunteering opportunities, before ultimately landing a new job. 
    • Midula who has learning and speech difficulties. West London Alliance Programme is improving her prospect of getting into work through tailored interview prep and giving her the confidence boost she needs to succeed. 
    • Bill who has been able to keep working at Harrow Council for 40 years, despite his physical heath deteriorating, thanks to adjustments made so he could stay in his job. 

    David Francis, Director of West London Alliance, said: 

    The West London Alliance Boroughs are proud to be at the forefront of the ‘Connect to Work’ initiative, demonstrating the strength of our partnerships and our dedication to improving employment outcomes for West London residents. 

    This programme provides vital and tailored support to those facing challenges in the labour market, helping them to secure sustainable employment and build better lives.

    The Connect to Work Programme is one of a number of initiatives being launched to help towards the government’s aim for an 80% employment rate.

    Work has already begun on the plan to Get Britain Working, with South Yorkshire becoming the first of nine ‘inactivity trailblazers’ across the country to launch their community-led effort to help people into a job.

    This comes as the government unveiled sweeping welfare reforms – backed by a record £1 billion to deliver tailored job support for sick and disabled people – opening doors to opportunity, giving people a chance at financial independence, and boosting living standards, as part of the government’s Plan for Change. 

    With 2.8 million people out of work due to ill-health – one of the highest rates in the G7 – the government is also combating health-related inactivity at its root by investing £26 billion in the NHS and delivering 2 million extra appointments to reduce medical waiting lists, giving people and the economy a chance to get back on track.

    Additional Information: 

    • The West London Alliance Partnership covers Ealing, Barnet, Harrow, Hillingdon, Brent, Hammersmith and Fulham, and Hounslow Local Authorities. Their Connect to Work service will be delivered under contract by Shaw Trust. 
    • The West Midlands and Greater Manchester Combined Authorities received a year’s funding for employment support as part of their Integrated Settlements – giving Mayors the power to make funding decisions in their area.
    • Guidance issued on 26 November 2024 invited areas covering all of England and Wales to develop their plans to deliver Connect to Work over the next 5 years. Last autumn’s Spending Review confirmed £115 million for year 1 (25/26), subsequent funding for the programme will be confirmed through Spending Review 2025.
    • Biggest shake up to welfare system in a generation to get Britain working – GOV.UK
    • Integrated Settlements for Mayoral Combined Authorities – GOV.UK

    Updates to this page

    Published 9 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Tackling child sexual abuse and exploitation: update

    Source: United Kingdom – Executive Government & Departments

    Speech

    Tackling child sexual abuse and exploitation: update

    Minister Phillips today delivered a speech on the government’s plan to tackle child sexual abuse and exploitation.

    With permission, Mr Speaker, I will make a statement updating the House on government action to tackle child sexual abuse and exploitation and on progress on the recommendations of the Independent Inquiry.

    Child sexual abuse and exploitation are the most horrific and disturbing crimes – an abuse of power against those who are most vulnerable, leaving lifelong trauma and scars.

    Best estimates suggest that 500,000 children are sexually abused every year. Analysis by the police found that there were 115,000 recorded cases of child sexual abuse in 2023, 4228 group-based offences identified by the CSE Taskforce, of which 1125 were family abuse, and 717 were sexual exploitation cases. In a growing number of recorded cases the perpetrators themselves are under 18.

    The House will be aware that, in its first year of operation up to March 2024, the Grooming Gangs Taskforce contributed to 550 arrests across the country. I can tell the House that – in the last nine months of 2024 – the Taskforce contributed to 597 arrests, in other words it surpassed in that nine month period what it has achieved in its first full year of its operation. Data for the first three months of this year is currently being collected from forces and will available early next month, but all round, we are making progress at every level to increase the number of investigations, increase the number of arrests, and most importantly, increase the number of victims who are seeing their attackers brought to justice.

    Yet despite the seriousness and severity of these crimes, there has been a shameful failure by institutions and those in power over many years to protect children from abuse or exploitation. So we are today setting out a progress update on action the government is taking to tackle Child Sexual Abuse and Exploitation to get support and justice for victims to ensure perpetrators are caught and put behind bars.

    CSA Measures

     Action on CSA since the election means we are introducing:

    • A new child sexual abuse police performance framework, including new standards on public protection, child abuse and exploitation;
    • Legislating targeting online offending, including abuse and grooming enabled by AI (Artificial Intelligence);
    • New powers for Border Force to detect digitally held child sex abuse at the UK border
    • New restrictions preventing registered sex offenders from changing their names to hide the threat they pose
    • Increased investment in law enforcement capability, through the Police Undercover Online Network and the Tackling Organised Exploitation Programme.

    In the Home Secretary’s statements to the House in January, she also set out what we are doing to crack down on grooming gangs. And today I can provide an update:

    • Baroness Casey’s 3-month National Audit on Group-based Child Sexual Exploitation and Abuse is ongoing. It is building a comprehensive national picture of what is known about child sexual exploitation, identifying local and national trends, assessing the quality of the data, looking at the ethnicity issues faced for example by cases involving Pakistani heritage gangs, and reviewing police and wider agency understanding.
    • We are developing a new best practice framework to support local authorities which want to undertake victim-centred local inquiries, or related work, drawing on the lessons from local independent inquiries like Telford, Rotherham and Greater Manchester. We will publish the details next month.
    • Alongside this we will set out the process through which local authorities can access the £5m national fund to support locally-led work on grooming gangs. Following feedback from local authorities, the fund will adopt a flexible approach to support both full independent local inquiries and more bespoke work, including local victims’ panels or locally led audits into the handling of historic cases.
    • The Chair of the National Police Chiefs’ Council, Gavin Stephens, has – at the Home Secretary’s request – urged the Chief Constables of all 43 police forces in England and Wales, to reexamine their investigations into group-based child sexual exploitation which resulted in No Further Action decisions.
    • And, as of 1 April, the Child Sexual Abuse Review Panel can review child sexual abuse cases which took place after 2013. Victims and survivors can now ask the Panel to independently review their case if they have not already exercised their Victims Right to Review.
    • I can also announce that we intend to expand the Independent Child Trafficking guardians’ scheme across all of England and Wales, providing direct support to many more child victims of sexual exploitation and grooming, which to date has only been available in selected areas.

    These measures will enable more victims and survivors to receive the truth, justice, improvements and accountability that they deserve – and put more vile perpetrators of this crime behind bars.

    IICSA Inquiry

    Much of this crucial activity builds on the vital work of the Independent Inquiry into Child Sexual Abuse undertaken between 2015 and 2022. Let me – on behalf of this whole House –thank again Professor Alexis Jay for chairing that seven-year National Inquiry with such expertise, diligence and compassion.

    IICSA revealed the terrible suffering caused by child sexual abuse and the shameful failure of institutions to put the protection of children before the protection of their own reputations.

    The Inquiry drew on the testimony of over 7,000 victims and survivors and considered over 2 million pages of evidence.

    Its findings, culminating in the final report published in October 2022, were designed to better protect children from sexual abuse and address the shortcomings which left them exposed to harm.

    The publication of that final report two and a half years ago should have been a landmark moment. But instead, the victims and survivors were failed again.

    None of the Inquiry’s recommendations were implemented or properly taken forward by the previous government in the twenty months they had to do so.

    Progress update

    As part of today’s Progress Update, the Government is setting out a detailed update and timetable on the work that is underway on the IICSA recommendations as part of our action on child sexual abuse. I can announce to the House that;

    • To prioritise the protection of children and improve national oversight and consistency of child protection practice, this Government will establish a new Child Protection Authority.

    • Building on the national Child Safeguarding Review Panel, the Child Protection Authority will address one of IICSA’s central recommendations by providing national leadership and learning on child protection and safeguarding. Work to expand the role of the Panel will begin immediately and we will consult on developing the new Authority this year

    • We have also asked Ofsted, HMICFRS and the CQC to conduct a joint thematic review of child abuse in family settings starting this Autumn.

    Mr Speaker, the IICSA report recommended the introduction of a new mandatory duty to report – something the Prime Minister, Home Secretary and I have all supported for more than a decade

    • In the Crime and Policing Bill we will now be taking forward the new mandatory duty to report child sexual abuse for individuals in England undertaking activity with children – and crucially, a new criminal offence of obstructing an individual from making a report under that duty.

    • Mandatory reporting – will create a culture of openness and honesty rather than cover-ups and secrecy. It will empower professionals and volunteers to take prompt, decisive action to report sexual abuse. It will demonstrate to children and young people that if they come forward, they will be heard. And anyone who seeks deliberately to prevent someone fulfilling their mandatory duty to report child sexual abuse will face the full force of the law.

    Today’s update also sets out how the government is supporting victims and survivors in accessing support and seeking justice:

    • We are tasking the Criminal Justice Joint Inspectorates to carry out a targeted inspection on the experiences of victims of child sexual abuse in the criminal justice system
    • We are instructing the Information Commissioner’s Office to produce a code of practice on the retention of personal data relating to child sexual abuse.

    In some cases where there have been serious institutional failings which contributed to the abuse, those institutions have provided financial redress schemes or compensation to victims and survivors who are affected. We continue to support those schemes as recognition by those institutions that they badly failed children in their care.

    On the IICSA proposal for a wider national redress scheme for all victims and survivors of child sexual abuse in institutional settings, the scale of that proposal demands that it is considered in the context of the Spending Review later this year, and we will make further updates at that stage.

    But one crucial area where we want to make immediate progress is on the provision of therapeutic services for victims and survivors of child sexual abuse. We will therefore bring forward proposals in the coming weeks to improve access to those services, with further details to be set out following the upcoming the Spending Review.

    Also ahead of the Spending Review, I can announce that – in this financial year – the Home Office will double the funding it provides for national services supporting adult survivors of child sexual abuse, providing more help to those adults who are living with the trauma of the horrific abuse they suffered as children.

    Finally, we want to speed up progress to make it easier for victims and survivors to get recompense directly from institutions that failed them. We are therefore removing the three-year limitation period on victims and survivors bringing personal injury claims in the civil courts and shifting the burden of proof from survivors to defendants, thereby protecting victims from having to relive their trauma to get compensation they are owed.

    Next steps/conclusion

    Mr Speaker, today’s update   – building on the measures the Home Secretary announced in January – demonstrates this Government’s steadfast commitment to tackling child sex abuse.

    The measures we are implementing will protect more children, find more criminals, and deliver support and justice to more victims and survivors.

    But this is not the end point; it is just the beginning. We will continue to drive forward reforms to protect more children from abhorrent abuse and support more adult survivors of these traumatic crimes.

    And as we pursue our Safer Streets Mission, we will use every available lever to drive progress on these issues across government and beyond.

    I want to finish with a word for the victims and survivors.

    No one should go through what you did.

    And while the failings of the past cannot be undone, we can, we must and we will strain every sinew to prevent them being repeated.

    I commend this statement to the House.

    ENDS

    Updates to this page

    Published 9 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: 21Shares Forms Exclusive Partnership with the House of Doge to Launch Dogecoin ETP in Europe

    Source: GlobeNewswire (MIL-OSI)

    Zurich, 9 April 2025 – 21Shares AG (“21Shares”), one of the world’s largest issuers of crypto exchange-traded products (ETPs), has formed an exclusive partnership with the House of Doge to create the only Dogecoin ETP endorsed by the Dogecoin Foundation, which will be listed on SIX Swiss Exchange (ticker: DOGE). This collaboration marks a major milestone in bringing institutional-grade exposure to Dogecoin, one of the most community-driven and widely recognised digital assets.

    Exchange Product Name Ticker ISIN Fee
    SIX Swiss Exchange 21Shares Dogecoin ETP DOGE CH1431521033 2.50%

    The 21Shares Dogecoin ETP is 100% physically backed, offering a transparent and seamless way for investors to gain exposure to Dogecoin through traditional financial channels. Originally launched in 2013 as a light-hearted alternative to Bitcoin, Dogecoin has since grown into one of the most widely recognised and accessible cryptocurrencies, known for its fast transaction speeds, low fees, and increasing merchant adoption. Today, leading brands such as Microsoft and AMC Theatres accept Dogecoin as a payment method, reinforcing its role in mainstream finance. 

    Beyond its technical advantages, Dogecoin has built a highly engaged and socially impactful community, rallying around the principle of “Do Only Good Everyday.” Over the years, its supporters have helped drive initiatives ranging from charitable fundraising to financial accessibility efforts, demonstrating the power of decentralised communities in shaping the future of digital finance.

    “With this exclusive partnership we’re providing investors with the most direct and accessible way to gain exposure to the Dogecoin ecosystem,” said Duncan Moir, President at 21Shares. “Dogecoin has become more than a cryptocurrency: it represents a cultural and financial movement that continues to drive mainstream adoption, and DOGE offers investors a regulated avenue to be part of this exciting project.”

    “This partnership marks a very large step forward for the Dogecoin vision,” said Jens Wiechers, Advisory Board Member at House of Doge and Co-Executive Director of the Dogecoin Foundation. “Dogecoin was created to be a fun, accessible form of peer-to-peer money, and over the years, it has demonstrated real-world utility in payments, tipping, and charitable giving. For Dogecoin to reach its full potential as a global currency, institutional support and corporate partnerships are essential. This initiative with 21Shares provides a regulated path for institutions to participate in and amplify the ‘Dogecoin is Money’ vision, while still honoring the community’s spirit. Global adoption is critical, and we’re excited to take this next step – ensuring Dogecoin stays fun, but gains the credibility and backing needed to thrive at scale.”

    “Our partnership with 21Shares demonstrates the evolving maturity and legitimacy of Dogecoin in the financial world,” said Sarosh Mistry, President and CEO of Sodexo North America and Director-Elect of House of Doge. “Institutional products will empower new types of investors to participate in the Dogecoin ecosystem, reinforcing its role as a leader in the future of digital assets.”

    With over $7.3 billion in assets under management and listings on 11 major exchanges, including SIX Swiss Exchange, Nasdaq, and Euronext, 21Shares continues to drive the integration of digital assets into mainstream finance.

    Notes to editors

    About 21Shares

    21Shares is one of the world’s leading cryptocurrency exchange traded product providers. We were founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. In 2018, 21Shares listed the world’s first physically-backed crypto ETP, and we have a seven-year track-record of creating crypto exchange-traded funds that are listed on some of the biggest, most-liquid securities exchanges globally. In addition to our seven-year track record, 21Shares offers investors best-in-class research and unparalleled client service.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    About House of Doge

    The House of Doge is the official corporate arm of the Dogecoin Foundation, committed to transforming Dogecoin into a fully integrated and accessible global payment platform and currency. The House of Doge’s mission is to advance the mainstream adoption of Dogecoin by enhancing its utility through real-world applications.

    About Dogecoin Foundation

    The Dogecoin Foundation is a nonprofit organization committed to developing open-source technology that enhances Dogecoin’s accessibility and utility as a peer-to-peer digital currency.

    Media Contact
    Matteo Valli
    matteo.valli@21shares.com

    DISCLAIMER

    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

    This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

    Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

    Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

    The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

    This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2024 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2024 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

    ###

    Attachment

    The MIL Network –

  • MIL-OSI: Orrön Energy publishes it’s Annual and Sustainability Report for 2024

    Source: GlobeNewswire (MIL-OSI)

    Orrön Energy AB (“Orrön Energy”) is pleased to announce the publication of it’s Annual and Sustainability Report for 2024 and encourages shareholders to read or download the report on Orrön Energy’s website, www.orron.com. For shareholders who would like to receive a printed copy of the Annual and Sustainability Report 2024, this can be requested on Orrön Energy’s website or by telephone on +46 8 440 54 50.

    For further information, please contact:

    Robert Eriksson
    Corporate Affairs and Investor Relations
    Tel: +46 701 11 26 15
    robert.eriksson@orron.com

    Jenny Sandström
    Communications Lead
    Tel: +41 79 431 63 68
    jenny.sandstrom@orron.com

    This information is information that Orrön Energy AB is required to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 09.00 CEST on 9 April 2025.

    Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: “ORRON”) renewable energy company within the Lundin Group of Companies. Orrön Energy’s core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics, the UK, Germany and France. With significant financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition.

    Forward-looking statements
    Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise.

    Attachments

    The MIL Network –

  • MIL-OSI China: 18 more key enterprises set up, expand business in HK

    Source: China State Council Information Office

    Another 18 enterprises in high-tech industries signed agreements to establish or expand their businesses in Hong Kong, the Hong Kong Special Administrative Region (HKSAR) government said on Tuesday.

    The enterprises, along with the 66 companies that signed on earlier, will invest about 50 billion Hong Kong dollars (6.43 billion U.S. dollars) in Hong Kong and create over 20,000 jobs.

    The enterprises are from such industries as advanced manufacturing and new energy, life and health technology, artificial intelligence and data science, as well as fintech. They all pledged to set up global headquarters, regional headquarters or research centers in Hong Kong.

    Hong Kong treasures not only the investments, jobs and expertise that the enterprises bring along, but also their products and solutions that will transform people’s ways of life and inspire new innovation, said Paul Chan, financial secretary of the HKSAR government, at the signing ceremony.

    “Hong Kong remains steadfast in our commitment to upholding our free-port status and free trade, maintaining our simple and low-tax system, and building a vibrant innovation and technology ecosystem with a full range of funding support,” he said. 

    MIL OSI China News –

  • MIL-OSI: Valeura Energy Inc.: Q1 2025 Operations and Financial Update

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 09, 2025 (GLOBE NEWSWIRE) — Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to provide an update on Q1 2025 operations.

    Highlights

    • Operations continuing smoothly, with oil production averaging 23.9 mbbls/d(1);
      • Continual programme of development and appraisal drilling throughout the quarter;
      • Strong ongoing safety performance, with no lost time injuries;
    • Strong cash position at March 31, 2025 of US$238.3 million, and no debt;
      • Taxes paid of US$39.2 million in Q1;
      • Repurchased 963,401 shares in Q1;
    • Resilient ongoing business based on strong balance sheet and cash flow, creating growth optionality in the current volatile climate.

    (1) Working interest share oil production, before royalties.

    Dr. Sean Guest, President and CEO commented:

    “Our strong operational and financial performance continued throughout Q1 2025, and our business is more resilient than ever. With our corporate restructuring completed in November 2024, and the final tax payment under the previous structure now behind us, we see an energised ability to generate cash flow as we look at the remainder of 2025. 

    We are carefully monitoring the current volatile market conditions while simultaneously reviewing and optimising our expenditures. However, our strong financial position with cash of US$238 million and no debt makes Valeura not only resilient, but also well positioned for attractive inorganic opportunities that may emerge during such a turbulent market environment.

    Notwithstanding the recent market volatility, we are maintaining all of our previously disclosed guidance assumptions for the year.” 

    Q1 2025 Update

    Valeura’s working interest share production before royalties averaged 23.9 mbbls/d during Q1 2025, a decrease of 8.4% from Q4 2024. Rates were affected by a planned seven-day annual maintenance shutdown of the Nong Yao field near the end of the quarter. All planned work on the Nong Yao facilities was conducted safely and under time and budget with production resuming on April 1, 2025. Valeura re-iterates its full year 2025 production guidance outlook of 23.0 – 25.5 mbbls/d.

    Oil sales totalled 1.88 million bbls during Q1 2025, less than the 2.15 million bbls produced. Sales were lower than in Q4 2024 and reflect the fact that at the beginning of the quarter, the Company had record low crude oil in inventory. At the end of the quarter Valeura had 0.89 million bbls in inventory, which is expected to be sold in Q2 2025 (including a lifting of approximately 0.25 million bbls which was sold on April 1, 2025).

    Price realisations averaged US$78.7/bbl during Q1 2025, reflecting a US$2.9/bbl premium over the Brent crude oil benchmark. Oil revenue during Q1 2025 was US$148.1 million, 35% lower than Q4 2024. The quarter-on-quarter difference is due to less oil volumes sold, and also one sale occurring very late in the quarter, for which revenue is expected to be received in April 2025. Accordingly, the Company recorded a receivable associated with that lifting of approximately US$30 million as at March 31, 2025.

    In addition to routine operating costs and planned capital spending, the Company has made a final tax payment of US$39.2 million in connection with its corporate restructuring that was completed in November 2024. This payment effectively completes the tax obligations for its Thai III licences under their previous organisation structure, and became due in Q1 2025, earlier than usual tax payments for Thai III licences which are payable in May and August of each year. Following the restructuring, petroleum income tax loss carry-forwards that were previously associated with only the Wassana asset are now being applied to all of the Company’s Thai III petroleum concessions, being Wassana, Nong Yao, and Manora, thereby resulting in a more efficient tax structure for the business.

    While the Company acknowledges the global market and oil price volatility experienced in early April 2025, at this time, Valeura re-affirms all of its guidance outlook expectations for 2025. The Company maintains a scenario-based approach to planning its investments, driven largely by forecast oil prices. Recent market conditions underscore the importance of such an approach, but more importantly highlight the value of maintaining a strong balance sheet so as to capitalise on emerging inorganic growth opportunities. As of March 31, 2025, Valeura had US$238.3 million in cash, with no debt.

    During the quarter, the Company acquired 963,401 shares as part of its NCIB programme.

    Operations Update

    Valeura provided an operations update on March 25, 2025, along with its announcement of results for Q4 and the full year 2024. Since that time, the Company has been conducting a drilling campaign on the Jasmine / Ban Yen field, and will provide an update in due course. 

    On March 28, 2025, an earthquake struck central Myanmar, which borders Thailand to the north-west. All Valeura’s personnel were confirmed safe, and all facilities continue to operate safely.

    Results Timing and AGM

    Valeura intends to release its full unaudited financial and operating results for Q1 2025 on May 14, 2025, and will discuss the results in more detail through a management webcast hosted in conjunction with its Annual General Meeting of Shareholders (the “meeting”) later that day. The notice of meeting and related Management’s Information Circular have been mailed to shareholders and are available on the Company’s website at www.valeuraenergy.com/governance and on SEDAR+ at www.sedarplus.ca.

    For further information, please contact:

    Valeura Energy Inc. (General Corporate Enquiries)
    +65 6373 6940
    Sean Guest, President and CEO
    Yacine Ben-Meriem, CFO
    Contact@valeuraenergy.com

    Valeura Energy Inc. (Investor and Media Enquiries)
    +1 403 975 6752 / +44 7392 940495
    Robin James Martin, Vice President, Communications and Investor Relations
    IR@valeuraenergy.com

    About the Company

    Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

    Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

    Advisory and Caution Regarding Forward-Looking Information

    Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “target” or similar words suggesting future outcomes or statements regarding an outlook.

    Forward-looking information in this news release includes, but is not limited to, the Company’s anticipated full year 2025 guidance assumptions, being full year working interest share oil production before royalties of 23.0 – 25.5 mbbls/d, capex of US$125 – 150 million, exploration expense of approximately US$11 million, and adjusted opex of US$125 – 245 million, all as more fully described in the January 9, 2025 press release; the anticipated receivable of approximately US$30 million as at March 31, 2025; and Valeura’s expectation that it will benefit from a more efficient tax structure as a result of the corporate restructuring. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; ability to achieve extensions to licences in Thailand and Türkiye to support attractive development and resource recovery; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; the impact of conflicts in the Middle East; royalty rates and taxes; management’s estimate of cumulative tax losses being correct; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the availability and identification of mergers and acquisition opportunities; the ability to successfully negotiate and complete any mergers and acquisition opportunities; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; international trade policies; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; the risk that the Company’s tax advisors’ and/or auditors’ assessment of the Company’s cumulative tax losses varies significantly from management’s expectations of the same; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, including international treaties and trade policies; the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

    Certain forward-looking information in this news release may also constitute “financial outlook” within the meaning of applicable securities legislation. Financial outlook involves statements about Valeura’s prospective financial performance or position and is based on and subject to the assumptions and risk factors described above in respect of forward-looking information generally as well as any other specific assumptions and risk factors in relation to such financial outlook noted in this news release. Such assumptions are based on management’s assessment of the relevant information currently available, and any financial outlook included in this news release is made as of the date hereof and provided for the purpose of helping readers understand Valeura’s current expectations and plans for the future. Readers are cautioned that reliance on any financial outlook may not be appropriate for other purposes or in other circumstances and that the risk factors described above or other factors may cause actual results to differ materially from any financial outlook.

    The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful. 

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

    This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

  • MIL-Evening Report: The Coalition’s domestic gas plan would lower prices – just not very much

    Source: The Conversation (Au and NZ) – By Samantha Hepburn, Professor, Deakin Law School, Deakin University

    A LNG carrier departs Gladstone. Ivan Kuzkin/Shutterstock

    It surprised many Australians when the Coalition announced a plan straight from the progressive side of politics: force large gas companies to reserve gas for domestic use – at a lower cost than they could sell it for overseas.

    As a populist move during a cost-of-living election, it’s a good one. Australia’s gas producers sell 70% of gas extracted on the east coast overseas under long-term contracts, even as southeastern states such as Victoria face possible gas shortages. Western Australia has long had an effective policy requiring up to 15% of offshore gas to be reserved for domestic use.

    After a fortnight’s delay, the Coalition has now publicly released the modelling behind its policy. Undertaken by Frontier Economics, the modelling indicates that reserving 50 to 100 petajoules of gas in the first year would cut wholesale prices by 23%. This would mean a 15% drop in prices for large-scale users – but only a 7% fall for household gas bills and a 3% fall in electricity bills.

    This doesn’t sound like much, because it isn’t. Gas prices soared during the Ukraine war and haven’t yet returned to their pre-war levels. Labor has dubbed the plan “gaslighting”, and will rely instead on a gas policy released last year to open up more gasfields and build import terminals. Gas producers don’t like the Coalition’s plan, and neither does billionaire Liberal benefactor Gina Rinehart. Dutton’s plan isn’t crazy – it’s just not likely to make a big difference.

    Most of Queensland’s gas is exported at present.
    Chris Andrews Fern Bay/Shutterstock

    How would this gas reservation policy work?

    The Coalition has proposed what it calls an East Coast Reservation Scheme, with the goal of progressively decoupling Australia’s east coast gas market from the volatile international market.

    It has two parts. First, it would require new exporters, in the first year of operation, to reserve an additional 50–100 petajoules for the domestic market. Second, it would create a gas security charge, to be imposed on gas producers seeking to export “additional” (non-contracted) gas on the international market.

    This would give gas producers an incentive to sell non-contracted gas to the domestic market, because they would get greater profits selling in Australia, even at a lower base price.

    Further, the policy would prevent gas producers from charging domestic buyers international prices, setting a competitive price.

    In effect, the gas security charge is akin to a levy or a reverse tariff. The levy can be avoided if producers supply up to 100 petajoules to domestic markets. That’s about as much gas as New South Wales’ gas pipelines deliver each year – 101 petajoules (PJ) as of 2022–23, or the equivalent of 26 full liquefied natural gas (LNG) carriers, which hold about 3.8 PJ on average.

    What are the issues with this plan?

    There are legitimate concerns. First, the policy does not directly address domestic gas pricing and won’t help with the cost of living crisis. Over time, it could create a more competitive domestic market, but the fact producers could make marginally more money selling gas on the domestic market doesn’t guarantee change.

    Second, the policy does not directly address the looming gas supply crisis. That’s because existing gas producers would not be legally obliged to commit to more gas domestically – they could still export it. The obligation to commit an additional 50-100 petajoules to the domestic market only applies to gas exporters in their first year of operation.

    If policymakers want to solve the supply crisis, they would be better served by imposing direct export controls in the form of a clear gas reservation mandate. This works, as Western Australia’s long experience shows.

    How did we get here?

    When Russia invaded Ukraine in 2022, it led to huge spikes in global gas prices and shortages in Europe as the world moved away from Russian gas.

    In the 2010s, Australia had already been ramping up gas production. But in the wake of the Ukraine war, Australia became a major gas exporter. Producers traded as much gas as possible on the international market, selling it for over A$40/GJ. Meanwhile, Australia’s coal production was falling.

    Domestic gas demand shot up, and prices went from $8 to $30 a gigajoule. In response, the Albanese government introduced an emergency price cap for the wholesale gas market, prohibiting producers from entering into supply contracts with domestic purchasers for prices above a cap, currently set at $12/GJ. While the cap did partly insulate domestic consumers, it was always intended as a temporary measure.

    The Australian Competition and Consumer Commission recently predicted a gas supply shortfall of up to 40 petajoules in the southern states as early as September due to declining production in Victoria and South Australia as well as higher demand. Without access to uncontracted Queensland gas, supply will run very low. This is a significant energy security risk, and one the Coalition’s gas policy doesn’t directly address.

    Victorian residents are more reliant on gas than other states – and shortfalls are looming.
    M-Production/Shutterstock

    What’s next?

    Australia is one of the world’s top three LNG exporters. The fact a gas giant could be facing domestic shortages is both unnecessary and embarrassing. Reaching this point represents decades of policy failure.

    Reserving gas for domestic use works for the west coast, and it would work for the east. But the Coalition’s plan is not quite a gas reservation scheme. It doesn’t create a comprehensive reservation mandate and questions remain about its capacity to address domestic pricing and supply.

    At present, it seems like a lot of effort without great benefit. Will households really notice their gas bill is 7% cheaper?

    Samantha Hepburn 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. The Coalition’s domestic gas plan would lower prices – just not very much – https://theconversation.com/the-coalitions-domestic-gas-plan-would-lower-prices-just-not-very-much-254194

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Child sexual exploitation and abuse is a multibillion-dollar industry – new report shows who benefits

    Source: The Conversation – UK – By Deborah Fry, Professor of International Child Protection Research and Director of Data at the Childlight Global Child Safety Institute, University of Edinburgh

    271 EAK MOTO/Shutterstock

    The sexual exploitation and abuse of children has become a multibillion-dollar global trade. The chilling reality of this profit-driven, highly lucrative industry is laid bare by new findings from myself and colleagues at the University of Edinburgh’s Childlight Global Child Safety Institute.

    Our new report shows child abuse isn’t just a crime restricted to a hidden corner of the dark web. Based on a review of 20 publications across multiple disciplines (including big data reports, systematic reviews, discussion papers and qualitative studies), the report paints a picture of the financial mechanisms enabling abuse on a global scale.

    Our previous work estimated that 3.5% of children globally had experienced sexual extortion in the last year. This is when children and their families face threats to share sexual content of a child if they do not comply with monetary demands.

    Offenders aren’t the only ones who profit. Financial institutions, tech companies and online payment platforms — sometimes unknowingly, sometimes by omission — facilitate the flow of profits made from the abuse of children. Some of the money moves through legitimate payment systems and advertising revenue streams. Other financial flows are deliberately obscured through cryptocurrencies and the dark web.

    Many organisations do take proactive steps to detect and report this activity. Inhope, a global network of hotlines, works with law enforcement and tech companies to remove child sexual abuse material and disrupt the associated financial streams. And the National Center for Missing & Exploited Children in the US receives and acts on reports from tech companies of child sexual abuse material, alerting companies and authorities to suspicious financial activity.

    But these systems remain inadequately checked or challenged by financial regulators and laws.

    Sexual extortion has also spawned the creation of companies that provide cybersecurity and reputation management services to victims to combat the extorters. Fees are often paid upfront and can amount to thousands of dollars. In effect, this forces victims to pay for a solution to the crime committed against them.

    An estimated 3.5% of children globally had experienced sexual extortion in the last year.
    Andrew Angelov/Shutterstock

    There is also a market for the sale of child sexual abuse material, both recorded and livestreamed, delivering profit for the offender and the systems they use. One video file of on-demand child sexual abuse can cost US$1,200 (£940). With the estimated prevalence of technology-facilitated abuse experienced by 300 million children annually, this is a massive industry.

    The scale of profit is staggering, in contrast with the price some perpetrators pay to sexually abuse children. One particularly haunting finding is abusers paying as little as 27 pence (UK) to offend against children.

    Taken together, the industry is estimated to reach multiple billions of dollars annually.

    While the financial value placed on a child may be measured in pennies, the lifelong cost to that child in trauma, health and opportunity is incalculable. It is a grotesque marketplace where takings are vast and suffering is immeasurable.

    Changing markets

    Our findings also expose how perpetrators themselves are rapidly changing their approach, constantly exploiting gaps in legislation and regulatory frameworks to continue harming children.

    For example, we find in the Philippines, a livestreaming hotspot, that technology is enabling large organised crime syndicates to be replaced by smaller, covert groups. Often operating within families, these perpetrators have profited as crime shifts online, facilitated by cryptocurrency and digital payment systems.

    The proliferation and growing sophistication of generative artificial intelligence (AI) has also opened troubling new frontiers. Child abusers can now produce realistic AI-generated child sexual abuse material, using the photos of real children in order to extort. This can make detection harder and muddy the water in terms of legal accountability. Many jurisdictions are still playing catch-up.



    Read more:
    Our research on dark web forums reveals the growing threat of AI-generated child abuse images

    Stopping the flow of money and abuse

    The world’s financial and tech infrastructure — knowingly or unknowingly — has become complicit in sustaining these crimes. In some cases, advertising revenue generated from abusive content on mainstream platforms flows back into criminal networks with little-to-no intervention. Cryptocurrencies allow for rapid and anonymous transfers of payment between perpetrators and content creators.

    There is no one-size-fits-all approach to preventing child sexual exploitation, and the changing nature of the market and technology makes it even harder.

    One promising measure is the use of blocklists — lists of known child sexual abuse material that, once identified, can be blocked across major internet service providers. These lists compiled and shared by organisations including Internet Watch Foundation are proving invaluable in stopping people from accessing abuse material.

    However, even here, our findings are disturbing. On average, there are five attempts per second globally to access material that has already been placed on these blocklists.

    We need to start addressing child sexual exploitation and abuse as a public health emergency, with a coordinated response to halt its growth. This requires not just reactive law enforcement measures, but proactive prevention strategies that tackle the financial and technological ecosystems that sustain the abuse. For example, imposing regulation and sanctions on financial institutions that do not take appropriate steps to prevent their services being exploited.

    Deborah Fry receives funding from Human Dignity Foundation and UK Research and Innovation.

    – ref. Child sexual exploitation and abuse is a multibillion-dollar industry – new report shows who benefits – https://theconversation.com/child-sexual-exploitation-and-abuse-is-a-multibillion-dollar-industry-new-report-shows-who-benefits-252431

    MIL OSI – Global Reports –

  • MIL-OSI: Billionaire Businessman Hasan Abdullah Mohamed Ismaik Unveils New Identity: HAMIC Group

    Source: GlobeNewswire (MIL-OSI)

    ABU DHABI, United Arab Emirates, April 09, 2025 (GLOBE NEWSWIRE) — Visionary entrepreneur and renowned billionaire Hasan Abdullah Mohamed Ismaik has officially launched the new identity of his business conglomerate: HAMIC Group, an acronym for Hasan Abdullah Mohamed Ismaik Capital. This bold new brand represents an elevated vision for the future—rooted in a legacy of excellence and driven by innovation and global ambition.

    Formerly known as the Hasan Ismaik Group, HAMIC Group stands as a testament to over 30 years of success, with a presence in 10 countries and management of more than 25 diverse investment projects. Headquartered in Abu Dhabi, HAMIC Group is a powerhouse of investment and asset management, with a dynamic, diversified portfolio spanning financial investments, real estate, retail, general trading, and hospitality.

    With the UAE as its strategic launchpad, HAMIC Group aims to capitalize on the region’s thriving economy and its status as a global financial and commercial hub. The group is set to scale its legacy to unprecedented heights, advancing regional and international ventures that embody innovation, sustainability, and economic value creation.

    “At this transformative moment in our journey, I am proud to unveil HAMIC Group—a name that reflects our ambition, purpose, and commitment to building a future-ready investment powerhouse,” said Hasan Ismaik, Founder and Chairman of HAMIC Group. “With a portfolio valued in the billions of dollars, we are poised to lead in shaping opportunities, driving growth, and supporting the UAE’s vision of a diversified and sustainable economy.”

    Built on the enduring success of the MARYA Group, which played a pivotal role in shaping real estate, retail, and investment landscapes, HAMIC Group is poised to expand its impact through a distinguished suite of companies including:

    • MARYA Development: Delivering iconic real estate projects in the UAE and globally.
    • SOHO: A leading retail player managing premium assets and brands in fashion and F&B.
    • HII Investments: Specializing in strategic, high-impact financial investments.
    • HAMG General Trading: Powering trade solutions across regional and global markets.

    HAMIC Group’s investment philosophy is deeply rooted in market intelligence, strategic foresight, and a commitment to excellence. The group is uniquely positioned to drive value through sustainable and socially responsible initiatives, with a strong emphasis on enhancing lifestyles and meeting evolving consumer aspirations.

    “Our strategy is aligned with the UAE’s national priorities and global economic trends,” Ismaik added. “HAMIC Group is more than an investment group—it is a catalyst for progress, a platform for innovation, and a legacy in motion.”

    With a clear vision and purpose-driven leadership, HAMIC Group is set to redefine the landscape of modern investment, blending luxury, sustainability, and impact across every venture it undertakes.

    About HAMIC Group:

    Hasan Ismaik Group (HAMIC Group) is a global investment powerhouse with over 30 years of experience, headquartered in the UAE, and managing a multi-billion-dollar portfolio.

    At HAMIC, we believe in the power of innovation and collaboration to transform industries. With a global footprint spanning 10 countries—including the UAE, Saudi Arabia, Jordan, Egypt, Iraq, Bahrain, Turkey, France, Germany, and the United States—we operate more than 25 projects that drive growth and create lasting impact.

    HAMIC Group operates across five key sectors: general investments, real estate, retail, trading, and hospitality. Under its umbrella, HAMIC owns and manages several leading companies, each driving excellence in its respective industry:

    MARYA Development: Elevating life through timeless design and thoughtful craftsmanship. We are committed to developing exceptional properties that redefine urban landscapes, enhance communities, and provide premium living experiences.

    SOHO: Combining luxury retail, fashion, and the F&B industries with a passion for enhancing the customer experience and driving innovation in lifestyle.

    HII & HAMG: Focused on connecting industries through strategic partnerships, driving growth across sectors, and generating financial returns through visionary investment strategies.

    With a proven track record and a visionary brand portfolio, HAMIC Group is shaping the future with uncompromising excellence and a lasting impact.

    Timeless Impact, Driven by Innovation.

    Visit our website: www.HAMIC.com

    For more information, please contact: PR@hamic.com +971 58 291 3443

    Follow us on @HamicGroup

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/18f30f48-b6dd-4bf8-915d-bed03b46eebf

    The MIL Network –

  • MIL-OSI USA: Senator Markey Hosts Virtual Town Hall on Trump Administration’s Attacks on Health Care Innovation and Access in Massachusetts

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Washington (April 8, 2025) – Senator Edward J. Markey (D-Mass.), top Democrat on the Small Business Committee, as well as the Health, Education, Labor, and Pensions (HELP) Subcommittee on Primary Health and Retirement Security, today hosted a virtual town hall with panelists from MassMEDIC, Conference of Boston Teaching Hospitals, VentureWell, Boyd Biomedical, and the Wyss Institute on the importance of protecting health care innovation and patient access to care in Massachusetts and across the country. Recent Trump administration actions threaten health care innovation and access in the United States and the Commonwealth, including cuts to research funding, disruptions in funding for health providers, and firing of employees at the Food and Drug Administration (FDA), National Institutes of Health (NIH), and Centers for Medicare and Medicaid Services (CMS).
    “With President Trump’s and Congressional Republicans’ attacks on medical research, on health care access, on small businesses, and innovation, they are attacking Massachusetts,” said Senator Markey. “I heard stories from health care leaders, manufacturers, researchers, and patients that demonstrate what these reckless and indiscriminate tariffs, cuts to medical research and personnel, and efforts to gut Medicaid will mean for our ability to innovate affordable, accessible treatments and cures, and deliver high-quality care to patients in Massachusetts. I stand with them in the fight to protect life-saving research and care.”
    Massachusetts is a national leader in developing groundbreaking treatments and cures, giving hope to patients, families, and caregivers in need of breakthroughs and discoveries. Massachusetts received nearly $3.5 billion in 2024 from the NIH to support 6,000 grants including for Alzheimer’s and youth mental health. Massachusetts received nine percent of National Institutes of Health funding in 2024 despite only having two percent of the population. Since its inception, Massachusetts has also received $26,000 from the Small Business Innovation Research (SBIR) program, totaling $9 billion in funding including for Alzheimer’s prevention, diagnosis and treatment and breast cancer detection. Committed health providers, researchers, and workers drive these innovations, relying on sustainable funding to do their work. 
    “On behalf of the region’s medical device sector, I thank Sen. Markey for his steadfast support of life science innovation and manufacturing. The Commonwealth’s economy depends on our ability to deliver new cures and treatments to the world. The senator is a great partner in developing federal policy that encourages growth and patient impact,” said Brian Johnson, President of MassMEDIC.
    “The NIH continues to be our nation’s greatest hope for identifying life changing diagnostics, treatments, and cures, while supporting countless jobs, driving economic activity, and ensuring the United States’ position as a global leader in scientific research and medical innovation,” said Patricia McMullin, Executive Director of the Conference of Boston Teaching Hospitals. “We are grateful to Senator Markey and the entire Massachusetts congressional delegation for their advocacy to strengthen our nation’s medical research, which saves lives and gives hope to families across the nation and around the world.”
    “The scientific breakthroughs of tomorrow and the health solutions that improve lives depend on sustained investment in foundational biomedical research and development funding. Agencies within the Department of Health and Human Services, including the National Institutes of Health (NIH) and the Advanced Research Projects Agency for Health (ARPA-H), play a critical role in enabling this progress. Continued funding and support ensure that discoveries can be translated into transformative products and services for patients,” said Mark Marino, Vice President at VentureWell. “Federal research investments in areas such as cancer, chronic disease, Alzheimer’s, mental health, environmental health, nutrition, and pandemic preparedness are essential to maintaining a strong biomedical innovation ecosystem. We applaud Senator Markey for underscoring the importance of timely, robust funding to advance research and fuel the innovation economy in Massachusetts and across the country. We urge Congress and this administration to prioritize innovative research funding for activities that help bring biomedical innovations out of the lab and into the market.”
    “We believe in the value of strong manufacturing in America, and we’re very happy that that sentiment is more widely held today than it was just a decade ago. But the financial impact of these tariffs on American manufacturers is stark. Especially for small and mid-sized companies,” said Matthew Boyd, Chief Commercial Officer at Boyd Biomedical. “The tremendous biomedical innovation we create here in Massachusetts is not a valve you can turn off and then expect to turn back on. The consequences of these cuts to federally funded biomedical research will have a decades-long impact on biomedical innovation.”
    “Even if some of these actions are reconsidered by the administration or blocked by courts, the current uncertainty and the possibility of some of these actions being implemented will delay life-saving therapies from getting into patients by delaying innovation,” said Dr. Girija Goyal, Ph.D., Principal Scientist at the Wyss Institute.
    On March 26, Senator Markey hosted a virtual office hours meeting with Congressman McGovern, food security advocates and food banks, and hundreds of constituents on the importance of protecting SNAP and other essential food security benefits for people in Massachusetts. Earlier that month, Senator Markey led members of the Massachusetts delegation in a joint statement blasting the Trump administration’s cuts to the National Institutes of Health. Also in March, Senator Markey hosted a town hall in Malden, Massachusetts to hear directly from constituents about their concerns about what President Trump and DOGE would mean for their health care and Social Security. In February 2025, Senators Markey, Warren and Schumer demanded that the Trump administration, Elon Musk and DOGE make no cuts to Medicaid or Medicare and to end DOGE’s unauthorized access to sensitive health information.

    MIL OSI USA News –

  • MIL-OSI: StepStone Evergreen Funds Added to Bergos Private Markets Platform

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, Switzerland, April 09, 2025 (GLOBE NEWSWIRE) — StepStone Group Inc. (Nasdaq: STEP), a leading global private markets solutions provider, announced today that several of its private market evergreen funds are now accessible through Bergos AG, which manages CHF7.3 billion in assets on behalf of clients.

    StepStone funds now available at Bergos AG are:

    • StepStone Private Venture and Growth Fund (“SPRING Lux”) is a broadly diversified venture and growth strategy fund leveraging an open architecture approach, selecting managers across the innovation economy. As of February 28, 2025, SPRING Lux has $341.7M in AUM and has delivered a 59.92% total net return since inception in November of 2022.
    • StepStone Private Infrastructure Fund (“STRUCTURE Lux”) seeks to provide current income and long-term capital appreciation by offering investors access to a global investment portfolio of private infrastructure assets. As of February 28, 2025, STRUCTURE Lux has $79.9M in AUM and has delivered a 24.91% total net return since inception in September of 2023.
    • StepStone Private Credit Fund (“SCRED Lux”) offers a permanent private debt co-investment solution deploying various credit-related strategies across market cycles to generate both current income and long-term capital appreciation. As of January 30, 2025, SCRED Lux has $43.6M in AUM, leveraging a ‘multi-lender’ approach since inception in June of 2024.
    • StepStone Private Credit Europe ELTIF (“SCRED Europe”) is structured to offer investors access to a broadly diversified, European-focused private credit strategy, with a primary focus on senior secured direct lending. The fund has successfully launched with over €250 million in seed capital, backed by a robust pipeline of opportunities.

    “Investors have embraced our approach to accessing the private markets through StepStone’s evergreen platform, and we are excited to deliver this access to Bergos’ clients,” said Neil Menard, Partner and President of Distribution at StepStone. “Bergos aligns with our mission of providing investors access to institutional-quality private market investments around the globe, and we are proud to partner with an institution whose values reflect our own.”

    Earlier this year, StepStone launched SCRED Europe, a private credit fund available to EU-domiciled professional and retail investors1. SPRING Lux and STRUCTURE Lux were also recently converted from reserved alternative investment funds (RAIFs) to UCI Part II compliant structures, allowing professional investors and semi-professional investors greater access to the private markets, including private equity, infrastructure, and real estate.

    1 As defined under Directive 2014/65/EU. SCRED Europe is only available to professional and retail investors in those EEA Member States into which the manager of the fund has registered it for marketing. Further detail on the fund’s registration status is available from the manager on request. This press release is not and should not be understood to be an offer of securities in any fund mentioned herein.

    About StepStone

    StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of December 31, 2024, StepStone was responsible for approximately $698 billion of total capital, including $179 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

    About Bergos

    Bergos AG is an independent Swiss Private Bank focusing on private wealth management. Bergos emerged in 2021 with a new shareholder base from its former mother company, the Berenberg Group founded in 1590, and has been serving international private clients and entrepreneurs in the Swiss financial center for over thirty years. Its headquarters are in Zurich with an office in Geneva. The Swiss Private Bank is dedicated to “Human Private Banking” and specializes in wealth management and advisory services. With more than 130 employees, the focus is on providing expert guidance in all known liquid asset classes, as well as in private markets and alternative investments. Following a “beyond money” approach, we also offer expertise in art collecting and philanthropy. For entrepreneurial clients, Bergos offers access to M&A and other corporate finance services. Bergos AG offers private clients, entrepreneurs and their families a holistic, cross-generational service that focuses on security, neutrality, internationality and openness to the world.

    BERGOS’ SERVICES ARE NOT MARKETED, SOLICITED OR OFFERED TO ANY PERSON RESIDENT OR ORGANISED INSIDE THE JURISDICTION OF UNITED STATES OF AMERICA AT ANY TIME. THEREFORE, BERGOS DOES NOT MARKET, SOLICIT OR OFFER STEPSTONE EVERGREEN FUNDS IN THE UNITED STATES OR TO US PERSONS.

    THIS DOCUMENT IS A MARKETING COMMUNICATION. PLEASE REFER TO THE OFFERING MEMORANDUM OF SPRING LUX, STRUCTURE LUX, SCRED LUX AND SCRED EUROPE (COLLECTIVELY, THE “FUNDS”) BEFORE MAKING ANY FINAL INVESTMENT DECISIONS.

    PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. ACTUAL PERFORMANCE MAY VARY.

    This document is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, or as an offer to provide advisory or other services by StepStone Group Private Wealth LLC (“SPW”), StepStone Group LP (“StepStone”), StepStone Group Europe Alternative Investments Limited (“SGEAIL”) or their subsidiaries or affiliates (collectively, the “Managers”) in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this document should not be construed as legal, financial or investment advice on any subject matter. The Managers expressly disclaim all liability in respect to actions taken based on any or all of the information in this document.

    Before investing you should carefully consider the Funds’ investment objectives, risks, charges and expenses. This and other information are explained in the relevant Offering Memorandum for each Fund, a copy of which may be obtained from SGEAIL upon request.

    Information contained herein is subject to change and amendment. An indication of interest in response to this advertisement will involve no obligation or commitment of any kind.

    Prospective investors should inform themselves and obtain appropriate advice as to any applicable legal or regulatory requirements and any applicable taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant to the suitability, subscription, purchase, holding, exchange, redemption or disposal of any investments.

    An investment involves a number of risks and there are conflicts of interest. Please refer to the risks outlined in detail in the relevant Offering Memorandum for each Fund.

    Marketing in the European Union

    The Funds are alternative investment funds (“AIFs”) for the purpose of Alternative Investment Fund Managers Directive (“AIFMD”). SGEAIL is the alternative investment fund manager (“AIFM”) of the Funds.

    The Funds that do not qualify as ELTIFs can be marketed to Professional Investors in the EEA in accordance with the requirements set out in Article 32 of AIFMD.

    Marketing of the Funds outside the EEA or in the EEA to investors other than Professional Investors (where relevant) must comply with applicable national private placement regimes. Those investors are required to inform themselves of any applicable local requirements or restrictions before investing in the Funds and to assess the impact of any risks they may be exposed to when investing in the Funds.

    Notice to all European Economic Area (EEA) residents

    In the EEA, this document is disseminated by SGEAIL.

    The Funds may only be offered or placed in an EEA Member State: (1) to Professional Investors to the extent that they have been registered for marketing in the relevant EEA Member State in accordance with Article 32 AIFMD (as amended and as implemented into the local law/regulation of the relevant EEA Member State); (2) to non-professional investors who meet the requirements of any national law/regulation which permits them to invest in AIFs, as specifically identified below; or (3) as they may otherwise be lawfully offered or placed in that EEA Member State, including at the exclusive initiative of an investor where permitted in accordance with the AIFMD.

    A list of the EEA Member States in which the Funds are registered for marketing under Article 32 AIFMD is available from the Managers upon request.

    Notice to investors in Austria

    Certain of the Funds have been notified to the Austrian Financial Market Authority (FMA) for marketing to professional investors (Professionelle Anleger) within the meaning of § 2 para 1 no 33 of the Austrian Alternative Investment Funds Act (Alternative Investmentfonds Manager-Gesetz; AIFMG) in accordance with Article 32 AIFMD and § 31 AIFMG. In the Republic of Austria, the relevant Funds may only be offered or placed and any offering or marketing materials related thereto may only be distributed to investors who are either (a) professional investors (Professionelle Anleger) as defined in § 2 para 1 no 33 AIFMG or where relevant (b) qualified retail investors (Qualifizierte Privatkunden) as defined in § 2 para 1 no 42 AIFMG. Distribution of the relevant Funds and any offering or marketing materials related thereto to retail investors (Privatkunden) as defined in § 2 para 1 no 36 AIFMG in the Republic of Austria is not permitted. Subscriptions by retail investors (Privatkunden) will therefore not be accepted. None of the Managers or the relevant Funds are subject to supervision by the FMA or any other Austrian authority. Neither the relevant Offering Memorandum, nor the relevant key information document (KID) have been reviewed by the FMA or any other Austrian authority.

    Notice to professional and semi-professional investors in Germany

    Certain of the Funds have been notified to the German Financial Services Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, or BAFIN) in accordance with Section 323 of the German investment code (Kapitalanlagegesetzbuch – KAGB).

    The relevant Funds may only be marketed and offered to professional and, where relevant to semi-professional investors in the Federal Republic of Germany, as defined in Section 1 (19) nos. 32 and 33 of the KAGB. The relevant Funds have not been admitted for marketing to retail investors within the meaning of Section 1 (19) no. 31 of the KAGB in Germany. Accordingly, the relevant Funds may not be offered and marketed to retail investors in Germany. This disclosure, the relevant Offering Memorandum and any other document relating to the relevant Funds, as well as information or statements contained therein, may not be supplied to retail investors in Germany or any other means of public marketing. Any resale of the relevant Funds in Germany may only be made to professional and semi-professional investors in Germany and in accordance with the provisions of the KAGB and any other applicable laws in Germany governing the sale and offering of the relevant Funds.

    Notice to investors in Italy

    Certain of the Funds have been passported with the Commissione Nazionale per le Società e la Borsa (CONSOB) for the marketing in Italy vis-à-vis professional investors in accordance with Article 32 AIFMD, article 43 of the Italian Legislative Decree of 24th February 1998, no. 58 (testo unico della finanza, the “TUF”) and relevant local implementing regulations in Italy. The relevant Funds may be distributed exclusively to the following categories of investors: (i) “professional investors” as defined in the AIFMD; or where relevant (ii) “non-professional investors” who: (1) invest at least EUR 500,000 in the relevant Fund; or (2) invest at least EUR 100,000 in the relevant Fund, and in the case of the latter, either: (a) the investment is made by a licensed portfolio manager on behalf of the non-professional investor; or (b) the investment is made by the non-professional investor in the context of the provision of investment advice, and is subject to the requirement that the entirety of any investments by that same non-professional investor in EU AIFs does not exceed ten percent (10%) of his or her financial portfolio as a result of a subscription or investment in the relevant Fund.

    Notice to investors in Switzerland

    The offer and the marketing of the Funds in Switzerland will be exclusively made to, and directed at, qualified investors (the “Qualified Investors”), as defined in Article 10(3) and (3ter) of the Swiss Collective Investment Schemes Act (“CISA”) and its implementing ordinance, at the exclusion of qualified investors with an opting-out pursuant to Article 5(1) of the Swiss Federal Law on Financial Services (“FinSA”) and without any portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA (“Excluded Qualified Investors”). Accordingly, the Funds have not been and will not be registered with the Swiss Financial Market Supervisory Authority (“FINMA”) and no representative or paying agent have been or will be appointed in Switzerland. This document and/or any other offering or marketing materials relating to The Funds may be made available in Switzerland solely to Qualified Investors, at the exclusion of Excluded Qualified Investors. The legal documents of the Funds may be obtained free of charge from the Managers.

    Notice to investors in the United Kingdom

    The Funds are alternative investment funds for the purpose of the Alternative Investment Fund Managers Regulations, 2013, as amended by the Alternative Investment Managers (Amendment, etc.) (EU Exit) Regulations 2019 (“UK AIFM Regulations”). SGEAIL is the alternative investment fund manager (“AIFM”) of the Funds. 

    The Funds have been registered for marketing under Regulation 59(1) of the UK AIFM Regulations. On that basis, the Funds may be marketed in the United Kingdom to UK persons who qualify as Professional Investors.

    Contacts

    Shareholder Relations:
    Seth Weiss
    shareholders@stepstonegroup.com
    +1 (212) 351-6106

    Media:
    Brian Ruby / Chris Gillick / Matt Lettiero, ICR
    StepStonePR@icrinc.com
    +1 (203) 682-8268

    The MIL Network –

  • MIL-OSI: Aegon announces reset of perpetual subordinated bonds

    Source: GlobeNewswire (MIL-OSI)

    The Hague, April 9, 2025 – Aegon today announces that it will reset the coupon on its EUR 113 million (NLG 250 million) 1.506% perpetual cumulative subordinated bonds (ISIN: NL0000120004, originally issued in 1995, the “bonds”) on June 8, 2025.

    As of June 8, 2005, and every ten years thereafter, Aegon has had the option to either call the bonds or reset the coupon.

    The bonds will continue to be outstanding in accordance with their terms, with the next optional redemption date on June 8, 2035. The new coupon will be published on or around June 3, 2025.

    Contacts

    About Aegon

    Aegon is an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection, and retirement solutions. Aegon’s portfolio of businesses includes fully owned businesses in the United States and United Kingdom, and a global asset manager. Aegon also creates value by combining its international expertise with strong local partners via insurance joint-ventures in Spain & Portugal, China, and Brazil, and via asset management partnerships in France and China. In addition, Aegon owns a Bermuda-based life insurer and generates value via a strategic shareholding in a market leading Dutch insurance and pensions company.

    Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, domiciled in Bermuda, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com.

    Forward-looking statements
    The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, could, is confident, will, and similar expressions as they relate to Aegon. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. In addition, any statements that refer to sustainability, environmental and social targets, commitments, goals, efforts and expectations and other events or circumstances that are partially dependent on future events are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes no obligation, and expressly disclaims any duty, to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially and adversely from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:

    • Financial risks – Rapidly rising interest rates; Sustained low or negative interest rate levels; Disruptions in the global financial markets and general economic conditions; Elevated levels of inflation; Illiquidity of certain investment assets; Credit risk, declines in value and defaults in Aegon’s debt securities, private placements, mortgage loan portfolios and other instruments or the failure of certain counterparties; Decline in equity markets; Downturn in the real estate market; Default of a major financial market participant; Failure by reinsurers to which Aegon has ceded risk; Downgrade in Aegon’s credit ratings; Fluctuations in currency exchange rates; Unsuccessful management of derivatives; Subjective valuation of Aegon’s investments, allowances and impairments;
    • Underwriting risks – Differences between actual claims experience/underwriting and reserve assumptions; Losses on products with guarantees due to volatile markets; Restrictions on underwriting criteria and the use of data; Unexpected return on offered financial and insurance products; Reinsurance may not be available, affordable, or adequate; Catastrophic events;
    • Operational risks – Competitive factors; Difficulty in acquiring and integrating new businesses or divesting existing operations; Difficulties in distributing and marketing products through its current and future distribution channels; Slow to adapt to and leverage new technologies; Failure of data management and governance; Epidemics or pandemics; Unsuccessful in managing exposure to climate risk; Unidentified or unanticipated risk events; Aegon’s information technology systems may not be resilient against constantly evolving threats; Computer system failure or security breach; Breach of data privacy or security obligations; Inaccuracies in econometric, financial, or actuarial models, or differing interpretations of underlying methodologies; Inaccurate, incomplete or unsuccessful quantitative models, algorithms or calculations; Issues with third-party providers, including events such as bankruptcy, disruption of services, poor performance, non-performance, or standards of service level agreements not being upheld; Inability to attract and retain personnel;
    • Political, regulatory, and supervisory risks – Requirement to increase technical provisions and/or hold higher amounts of regulatory capital as a result of changes in the regulatory environment or changes in rating agency analysis; Political or other instability in a country or geographic region; Changes in accounting standards; Inability of Aegon’s subsidiaries to pay dividends to Aegon Ltd.; Risks of application of intervention measures;
    • Legal and compliance risks – Unfavorable outcomes of legal and arbitration proceedings and regulatory investigations and actions; Changes in government regulations in the jurisdictions in which Aegon operates; Increased attention to sustainability matters and evolving sustainability standards and requirements; Tax risks; Difficulty to effect service of process or to enforce judgments against Aegon in the United States; Inability to manage risks associated with the reform and replacement of benchmark rates; Inability to protect intellectual property;
    • Risks relating to Aegon’s common shares – Volatility of Aegon’s share price; Offering of additional common shares in the future; Significant influence of Vereniging Aegon over Aegon’s corporate actions; Currency fluctuations; Influence of Perpetual Contingent Convertible Securities over the market price for Aegon’s common shares.

    Additionally, Aegon provides some information in this report that is informed by various stakeholder expectations, non-US regulatory requirements, and third-party frameworks. Such information, whether provided here or in Aegon’s other disclosures (including website materials), is not necessarily material for SEC reporting purposes.

    Even in instances where we use “material”, this should not in all instances be deemed to refer to materiality for purposes of our U.S. federal securities filings, as there are various definitions of materiality used by different stakeholders, including but not limited to a more expansive “double materiality” standard pursuant to the European Sustainability Reporting Standards that has informed much of our sustainability disclosure. Similarly, while we leverage various frameworks in our disclosures, we cannot guarantee, and language such as “align” or “follow” is not meant to imply complete alignment with these requirements.

    We similarly cannot guarantee complete alignment with any stakeholder’s interpretation or preference for the measurement or presentation of sustainability or other information in this report. Expectations, as well as our own approach, continue to evolve and may change for a variety of reasons, including regulatory or business requirements or other factors that may not be in our control. Similarly, certain disclosures are based on hypothetical scenarios which may not be reflective of expectations or future events; such scenarios are subject to inherent uncertainty given the long-time frames and breadth of variables involved. As a final note, documents and website references included herein are provided solely for convenience and are not incorporated by reference absent express language to the contrary.

    This document contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (596/2014). Further details of potential risks and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, including the 2023 Integrated Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aegon’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

    Attachment

    The MIL Network –

  • MIL-OSI: RIBER reports solid growth in sales and earnings in 2024

    Source: GlobeNewswire (MIL-OSI)

    RIBER reports solid growth in sales and earnings in 2024

    • Revenues: €41.2m (+5%)
    • Income from ordinary operations: €4.5m, representing 11% of revenues
    • Net income: €4.1m (+21%)
    • Proposed payout of €0.08 per share for 2024 (+14%)

    Bezons, April 9, 2024 – 8:00am – RIBER, the global leader for molecular beam epitaxy (MBE) equipment serving the semiconductor industry, is announcing its full-year results for 2024, marked by solid growth in sales and profitability.

    (€m – at December 31) 2024 2023 Change
    Revenues 41.2 39.3 +4.8%
    MBE systems revenues 31.0 29.0 +7.0%
    Services and accessories revenues 10.2 10.3 -1.2%
    Gross margin
    % of revenues    		 14.8
    36.1%    		 13.2
    33.7%    		 +12.1%
    Income from ordinary operations
    % of revenues    		 4.5
    10.9%    		 3.9
    10.0%    		 +14.4%
    Operating income
    % of revenues    		 4.4
    10.6%    		 3.9
    10.0%    		 +11.3%
    Pre-tax income
    % of revenues    		 4.4
    10.6%    		 3.6
    9.1%    		 +22.5%
    Net income
    % of revenues    		 4.1
    10.0%    		 3.4
    8.7%    		 +21.4%

    Key developments

    In 2024, RIBER achieved its revenues targets, driven by solid growth in MBE system sales. This momentum reflects the strengthening of its positions in the MBE market, for both research and industrial production, as evidenced by the strong order intake during the year, with 13 new MBE systems. In this context, the company’s earnings show a clear improvement compared with the previous year.

    Alongside this, RIBER moved forward with its innovation efforts with the development of ROSIE (RIBER Oxide on SIlicon Epitaxy), a new system dedicated to the silicon photonics sector. Designed to meet the growing demands of optical transmission and reception applications, its commercial launch, scheduled for 2026, opens up new prospects in a fast-growing market. This dynamism is supported by the demand for advanced semiconductor materials dedicated to data transmission and Artificial Intelligence. The technology developed by RIBER will help reduce energy consumption, particularly in data centers.

    Revenues

    Full-year revenues for 2024 increased to €41.2m, up +5% from 2023. Revenues for MBE systems were up +7% to €31.0m for 12 machines delivered, compared with 13 in 2023. Revenues for services and accessories amounted to 10.2 million euros, representing 24.8% of 2024 revenues, and were broadly stable year-on-year.

    Earnings

    The gross margin was €14.8m, up +12.1%, driven by growth in system business.

    Income from ordinary operations was €4.5m, up +14.4% compared with the previous year, thanks to effective control of operating costs. It represents 11% of revenues, compared with 10% in 2023.

    Net income totaled €4.1m, compared with €3.4m in 2023, an increase of +21.4%.

    Cash flow and balance sheet

    The cash position at end-2023 was positive at €8.6m, compared to €9.7m at end-2023.

    Shareholders’ equity totaled €23.6m, up +€2.3m compared with end-2023. This change is driven by the earnings for the year 2024 and the distribution of amounts drawn against the issue premium for 2023 to shareholders.

    Order book

    The order book at December 31, 2024 represented €21.7m, down 17% year-on-year, including 7 MBE systems (€16.7m), of which 5 for production, as well as orders for services and accessories (€5.0m).

    The order book is up after factoring the two new orders announced in January 2025 for a production system in Europe and a research system in the United States, both scheduled for delivery in 2025.

    Outlook

    In view of the uncertainties linked to the application of US customs duties and the economic environment, RIBER is reserving its position on issuing guidance for fiscal year 2025.

    RIBER remains committed to its medium-term objectives. In this context, RIBER is moving forward with its growth strategy by strengthening its technological leadership and expanding its solutions into new high value-added markets, particularly silicon photonics and materials for quantum technologies. These developments will be presented at the next Annual General Meeting on June 18, 2025.

    Distribution of amounts drawn against the “issue premium” account

    The Board of Directors will propose to the June 18, 2025 General Meeting a cash distribution of €0.08 per share, through a partial reimbursement of the issue premium. It will be released for payment on June 25, 2025.

    Next dates

    • April 18, 2025 – 6:00pm:         2024 annual financial report
    • June 18, 2025 – 10:00am:         General Meeting in Paris

    The annual financial statements were approved by the Board of Directors on April 8, 2025. The statutory auditors have completed the audit procedures on the corporate and consolidated accounts. The certification report will be issued once the necessary procedures have been finalized for publishing the full-year financial report.

    In compliance with AMF regulations and the operating rules of Euronext Growth Paris, RIBER will henceforth publish its sales figures on a half-yearly basis, except in the event of significant developments.

    About RIBER

    Founded in 1964, RIBER is the global market leader for MBE – molecular beam epitaxy – equipment. It designs and produces equipment for the semiconductor industry and provides scientific and technical support for its clients (hardware and software), maintaining their equipment and optimizing their performance and output levels. Accelerating the performance of electronics, RIBER’s equipment performs an essential role in the development of advanced semiconductor systems that are used in numerous applications, from information technologies to photonics (lasers, sensors, etc.), 5G telecommunications networks and research, including quantum computing. RIBER is a BPI France-approved innovative company and is listed on the Euronext Growth Paris market (ISIN: FR0000075954).
    www.riber.com

    Contacts

    RIBER : Annie Geoffroy| tel: +33 (0)1 39 96 65 00 | invest@riber.com
    ACTUS FINANCE & COMMUNICATION : Cyril Combe | tel: +33 (0)1 53 65 68 68 | ccombe@actus.fr

    Attachment

    The MIL Network –

  • MIL-OSI: Trifork subsidiary Nine wins strategically important contract for the Danish Agency for Digital Government: Developing Denmark’s Digital Identity Wallet

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Trifork subsidiary Nine wins strategically important contract for the Danish Agency for Digital Government: Developing Denmark’s Digital Identity Wallet

    Copenhagen, 9 April 2025 – The Danish Agency for Digital Government (Digitaliseringsstyrelsen) has awarded the contract for the first phase of developing Denmark’s new Digital Identity Wallet to the IT company Nine, a subsidiary of Trifork Group. The project is awarded through the SKI framework agreement 02.14, category 1 (competence procurement), with a total value of DKK 29 million for the initial phase, which includes development starting in April 2025, go-live in Q1 2026, followed by two years of support and continued development.

    The Digital Identity Wallet will initially enable citizens to obtain digital proof of age and a digital ID credential, usable both physically and online, without having to share unnecessary personal information.

    In subsequent project phases, the functionality will be expanded to include a wide range of digital credentials and comply with the requirements of the EU’s eIDAS2 regulation. This means the wallet will ultimately be interoperable with other EU member states’ digital identity wallets – serving as a secure and standardized solution across borders.

    In the long term, many public authorities are expected to use the wallet to issue digital credentials.

    Nine has had a long-standing collaboration with the Danish Agency for Digital Government over several years, including work on the Next Generation Digital Post (NgDP) and the Rights Portal (Rettighedsportalen).

    “We are proud to be entrusted with developing Denmark’s Digital Identity Wallet. It is an exciting and meaningful task where security, user-friendliness, and future EU compatibility are at the core,” says Jacob Strange, CEO of Nine.

    The parent company, Trifork, is closely engaged in the awarded project. Trifork wishes to take part in the development of EU wallets in other member states, seeing great potential in leveraging Nine’s experience from Denmark in the broader European market.


    Investor and media contact
    Frederik Svanholm, Group Investment Director, Head of IR & PR
    frsv@trifork.com, +41 79 357 7317

    About Trifork Group
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-Evening Report: Can you spot a financial fake? How AI is raising our risks of billing fraud

    Source: The Conversation (Au and NZ) – By Matthew Grosse, Director of the Master of Business Analytics, Senior Lecturer, Accounting, University of Technology Sydney

    Along with the many benefits of artificial intelligence – from providing real time navigation to early disease detection – the explosion in its use has increased opportunities for fraud and deception.

    Large and small businesses and even the Australian Taxation Office (ATO) may be hit with fraudulent reimbursement claims, which are almost impossible to distinguish from legitimate receipts and invoices.

    Individuals also need to be wary.

    Look at the photos of the receipts shown below. One documents a genuine transaction. The other was created using ChatGPT. Can you spot the fake?

    Now have a look at this one.

    You possibly couldn’t – and that’s exactly the point. Systems which can reproduce near perfect counterfeits of legitimate financial documents are increasingly prevalent and sophisticated.

    Last week, OpenAI released an improved image generation model which can create images with photorealistic outputs including text.

    Why should we care?

    Fraud involving fake financial documents is a massive global issue. The international Association of Certified Fraud Examiners estimate organisations lose approximately 5% of revenue to fraud each year.

    In its 2024 report, the association documents losses exceeding US$3.1 billion across 1,921 cases. Billing and expense fraud constitute 35% of asset misappropriation cases, with firms reporting median losses of US$150,000 per incident.

    Most concerning, fraudsters primarily conceal these crimes by creating fake documents or altering files, exactly what AI now simplifies.

    Fake documents enable fraud in various ways. An employee might create a fictitious receipt for a business lunch that never happened, or a contractor might fabricate receipts for expenses never incurred. In each case, the fraudster uses counterfeit documentation to extract money they’re not entitled to.

    This problem is likely more widespread than recognised. A 2024 survey revealed 24% of employees admitted to expense fraud, with another 15% considering it.

    Even more concerning, 42% of UK public sector decision makers confessed to submitting fraudulent claims.

    AI removes barriers to deception

    Understanding how AI technology may lead to a surge in potential fraud requires examining the classic “fraud triangle”. This explains that fraud requires three elements: incentives, rationalisation and opportunity.

    Historically, technical barriers limited the ability to create fake documentation even when motivation existed.

    AI eliminates these barriers by making fake documentation easy to create. Research confirms when opportunity expands, fraud increases.

    When fake claims become everyone’s problem

    When fake receipts support tax deductions, we all pay.

    Consider a marketing consultant earning $120,000, who uses an AI image generator to create several convincing receipts for non-existent expenses totalling $4,000. At their marginal tax rate of 30%, this fraud saves them about $1,200 in taxes – if they are not caught.

    The Australian Taxation Office estimates a $2.7 billion annual annual gap from incorrectly over-claimed deductions by small businesses. With digital forgery becoming more accessible, this gap could widen significantly.

    Fake receipts and invoices

    Consumers are also becoming increasingly vulnerable to scammers using AI-generated receipts and invoices.

    Imagine receiving what looks like an official invoice from your energy provider. The only difference? The payment details direct funds to a scammer’s account.

    This is already occurring. The Australian Competition and Consumer Commission reported more than $3.1 billion lost to scams in 2023, with payment redirection fraud growing rapidly.

    As AI tools make creating and editing convincing business documentation easier, these scam numbers have the potential to increase.

    The growing threat

    This vulnerability for both businesses and consumers is amplified by our increasing reliance on digital documentation.

    Today, many businesses issue receipts in digital formats. Expense management systems typically require employees to submit photos or scans of receipts. Tax authorities also accept electronically stored documentation.

    With paper receipts becoming increasingly rare and paper’s physical security features gone, digital forgeries become nearly impossible to spot through visual inspection alone.

    Is digital authentication the answer?

    One potential countermeasure is the Content Provenance and Authenticity (C2PA) standard. The C2PA standard embeds AI generated images with verifiable information about file origin.

    However, a major weakness remains, as users can remove metadata by taking a screenshot of an image. For businesses and tax authorities, digital authentication standards are just part of the answer to sophisticated digital forgery. Yet reverting to paper documentation isn’t feasible in our digital era.

    Seeing is no longer believing

    AI’s ability to create realistic fake financial documents fundamentally changes our approach to expense verification and financial security.

    The traditional visual inspection of receipts and invoices is rapidly becoming obsolete.

    Businesses, tax authorities and individuals need to adapt quickly by implementing verification systems that go beyond simply looking at documentation.

    This might include transaction matching with bank records, and automated anomaly detection systems that flag unusual spending patterns. Perhaps the use of blockchain technology will expand to help verify transactions.

    The gap between what AI can create and what our systems can reliably verify continues to widen. So how do we maintain trust in financial transactions in a world where seeing is no longer believing?

    Matthew Grosse 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. Can you spot a financial fake? How AI is raising our risks of billing fraud – https://theconversation.com/can-you-spot-a-financial-fake-how-ai-is-raising-our-risks-of-billing-fraud-253912

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Submissions: US tariffs on Vietnamese imports trigger strategic pivot as growth forecast trimmed to 6.5% for 2025: GlobalData

    Source: GlobalData

    Following the news that the 10% US import tariff, including a 46% hike specifically targeting Vietnamese goods, will take effect on 09 April 2025;

    Annapurna Pillutla, Analyst, Economic Research at GlobalData, a leading data and analytics company, offers her view:

    “In response to the US tariffs, Vietnam reaffirmed its commitment to fair trade and transparency. Diplomatic engagement has been stepped up, with efforts to negotiate exemptions and clarify Vietnam’s trade and monetary policies. Vietnam is eliminating tariffs on US imports following Trump’s announcement of a 46% levy. Vietnam also proposed zero tariffs on the US goods and requested a delay of 45 days in tariff implementation, aiming for a mutually beneficial agreement.

    “Vietnam’s economy is heavily dependent on the export of goods and services, which constitute nearly 100% of its GDP. In 2024, goods exports to the US amounted to $136.6 billion, representing 30.1% of Vietnam’s GDP. The sharp escalation in tariffs on Vietnamese imports signals a critical juncture in Vietnam-US trade dynamics. Given the US accounts for close to a third of Vietnam’s GDP through goods exports, the latest measures introduce significant downside risks, particularly to export-reliant industries such as textiles and footwear, where cost pressures and competitive positioning are already under strain. “Against this backdrop, GlobalData has revised the forecast of Vietnam’s GDP growth to 6.5% in 2025, down from 6.7%, as demand from one of its largest trading partners softens.

    “This development is expected to fast-track Vietnam’s strategic shift toward economic diversification. Beyond intensified trade negotiations, the government is now likely to double down on initiatives to attract high-value foreign investment, scale up digital capabilities in manufacturing, and strengthen bilateral trade ties with economies in the EU, India, and Latin America. Over time, such moves could reduce Vietnam’s exposure to single-market volatility and set the foundation for more resilient and balanced growth.”

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

    MIL OSI – Submitted News –

  • MIL-OSI China: Canada’s countermeasures against US takes effect on Wednesday

    Source: China State Council Information Office 3

    Canadian Finance Minister François-Philippe Champagne on Tuesday confirmed that Canada’s new countermeasures announced last week in response to the U.S. tariffs on the Canadian auto industry will come into force at 12:01 a.m. EDT on Wednesday, April 9.

    Champagne said Canada would continue to “respond forcefully” to all unwarranted and unreasonable tariffs imposed by the United States on Canadian products.

    “The government is firmly committed to getting these U.S. tariffs removed as soon as possible, and will protect Canada’s workers, businesses, economy and industry,” Champagne said in a release issued by the Finance Ministry.

    The countermeasures, announced by Prime Minister Mark Carney Prime Minister last week, include 25-percent tariffs on non-Canada-U.S.-Mexico Agreement (CUSMA) compliant fully-assembled vehicles imported into Canada from the United States, and 25-percent tariffs on non-Canadian and non-Mexican content of CUSMA compliant fully-assembled vehicles imported into Canada from the United States.

    A remission framework for auto producers that incentivizes production and investment in Canada, and helps maintain Canadian jobs, will also be implemented, said the release.

    On April 3, U.S. tariffs of 25 percent on Canadian automobiles came into effect, targeting the auto industry and the more than 500,000 Canadians this industry supports across the country, said the release, adding that the United States also intends to apply 25-percent tariffs on certain automobile parts on May 3.

    Vehicle imports from the United States totaled 35.6 billion Canadian dollars (25 billion U.S. dollars) in 2024, said the release. 

    MIL OSI China News –

  • MIL-OSI: SBM Offshore signs US$400 million Sale and Leaseback agreement for FPSO Cidade de Paraty

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, April 9, 2025

    SBM Offshore announces it has signed a non-recourse sale and leaseback financing agreement for FPSO Cidade de Paraty for the total amount of US$400 million and with a tenor of 8 years. The transaction is expected to be completed before the end of April 2025 following the fulfillment of certain closing conditions.

    FPSO Cidade de Paraty is owned by a special purpose company owned by affiliated companies of SBM Offshore (63.125%) and its partners (36.875%). Under the terms of the agreement, the special purpose company will transfer the ownership to four Chinese leasing companies.

    SBM Offshore and its partners continue to operate and maintain the asset until the end of the initial charter and operate contracts for the remaining period of 8.5 years.

    Douglas Wood, CFO of SBM Offshore, commented:
    “We are very pleased to have signed the refinancing of FPSO Cidade de Paraty, the Company’s first sale and leaseback financing. With this strategic transaction we are demonstrating once again the value of our unique lifecycle offering not only from an execution and operation standpoint but also in our ability to continue to provide innovative long-term financing solutions for our clients. We appreciate the continued support from our Chinese leasing partners.”

    Corporate Profile

    SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. 
    More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress. 
    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025
    Third Quarter 2025 Trading Update   November 13 2025
    Full Year 2025 Earnings   February 26 2026

    For further information, please contact:

    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Giampaolo Arghittu
    Head of External Relations

    Market Abuse Regulation

    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer

    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impacts, Risks and Opportunities’ section of the 2024 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports – SBM Offshore.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

    Attachment

    The MIL Network –

  • MIL-OSI New Zealand: Release: Reserve Bank acts while Govt shrugs

    Source: New Zealand Labour Party

    Nicola Willis continues to sit on her hands amid a global economic crisis, leaving the Reserve Bank to act for New Zealanders who are worried about their jobs, mortgages, and KiwiSaver.

    “While the Reserve Bank is doing its job to cushion the blow of a global economic downturn, Nicola Willis continues to pretend like everything is fine,” Labour finance and economy spokesperson Barbara Edmonds said.

    “New Zealanders are rightfully nervous about their jobs, mortgages, and KiwiSaver right now, yet all they’re getting from their Government is ‘we’ve got this.’ That’s not a plan, that’s complacency.

    “Nicola Willis spent so much of her time in Opposition criticising the Reserve Bank, it’s ironic she’s now claiming their decisions as a win. If she wanted to show real leadership she would invest in jobs, health, and homes, and adapt when New Zealand’s economy needs it.

    “Her Government put New Zealand into the sharpest recession in 30 years, excluding COVID, helped along by decisions to stop public housing and infrastructure projects. That’s cost New Zealand 13,000 construction jobs. Now they’re sitting on their hands in the face of major economic headwinds.

    “Even worse, they’re not being honest with Kiwis about what a continued global slowdown could mean for the budget: more draconian cuts to public services. That means fewer jobs, worse healthcare, and more Kiwis without a home.

    “Now is the time we need to be investing in jobs, health, and homes to boost our economy and lift people up, especially as U.S. tariffs cause more turmoil. Rather than working to weather the storm, they’re pretending as if it is business as usual.

    “New Zealand needs a Government that steps up and adapts when the global system falters, not one that stands still,” Barbara Edmonds said.

    Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X.

    MIL OSI New Zealand News –

  • MIL-Evening Report: Adam Bandt says the Greens can deliver ‘real change’ – but the party should choose its battles more wisely

    Source: The Conversation (Au and NZ) – By Kate Crowley, Adjunct Associate Professor, Public and Environmental Policy, University of Tasmania

    Federal Greens leader Adam Bandt says the federal election offers “an opportunity for real change”, saying his party would use the balance of power in the next parliament to help deliver serious policy reforms.

    In a speech to the National Press Club on Wednesday, Bandt outlined the party’s election priorities and said the poll represents:

    A once-in-a-generation chance to create a country where everyone has a right to the basics – food, health, and a home. A safe climate and a healthy environment. An economy which puts people before the profits of the obscenely wealthy and the excessively profitable.

    The Greens broke new ground at the last federal election, snatching three new lower house seats and winning the balance of power in the Senate. The gains suggested the Greens were moving beyond their roots as a party of protest, and becoming a true policy force.

    But the Greens broadly failed to make the most of its greater political presence this term. In the next parliament, it should focus on building political capital and picking its battles more wisely.

    Meagre parliamentary success this term

    As a traditional party of protest, the Greens have historically tended to stick firmly to the party’s policy agenda rather than make major concessions to the government of the day.

    However, as the new Labor government focused on delivering its mostly modest reform agenda this term, the Greens party was forced to negotiate on its demands, much as the Teals have done.

    The Greens helped Labor pass its signature climate change policy, the safeguard mechanism, which seeks to limit emissions from Australia’s most polluting companies. In return, Labor agreed to the Greens’ call for a hard cap on emissions under the scheme. But it refused to bow to Greens demands for a ban on new gas and coal projects, and limiting the use of carbon credits.

    The Greens were then tested by Labor’s housing agenda – specifically, two schemes to make buying or renting a home more affordable.

    The Greens’ initially teamed up with the Coalition to block the laws, arguing they would drive up housing prices and give tax breaks to property developers. The party’s opposition was at odds with public opinion, including most Greens voters.

    The party eventually waved the housing bills through in November last year without winning any concessions from Labor, and after burning much political capital.

    The chastened Greens helped pass a flurry of other legislation late in 2024, including Reserve Bank governance reforms and a supermarket code of conduct. In return, Labor offered Greens fairly piecemeal concessions, including more money for social housing electrification and a ban on fossil fuel subsidies under the Future Made in Australia scheme.

    The Greens also offered to help salvage Labor’s troubled proposal to reform Australia’s environmental protection laws. It shelved its calls for a “climate trigger” – which would force regulators to consider the potential climate damage of a proposal before it was approved. Instead, the Greens insisted only on stronger protections for native forests.

    However, Prime Minister Anthony Albanese intervened at the eleventh hour to scuttle the deal.

    All this suggests the Greens party is yet to strike the right balance between pursuing its own policy agenda and supporting Labor to the extent that a healthy working relationship is achieved. So far, it has gained only meagre concessions, and its policy grandstanding has not worked.

    Flare-ups outside parliament

    Scoring political points outside parliament can be easier for the Greens than influencing policy within it.

    Environmental conflict has always fuelled the Greens’ vote, and the party continues to campaign on issues such as protecting Tasmania’s native forests, opposing salmon farming and calling for a ban on new coal and gas projects.

    But outside parliament this term, the Greens have faced controversies that may hurt them at the ballot box.

    Greens senator Lidia Thorpe quit the party over its support for the Voice referendum, and Bandt copped criticism for allegedly failing to confront bullying claims against West Australian Greens senator Dorinda Cox.

    The Gaza conflict triggered significant ruptures between the Greens and the pro-Israel movement. There were also reports that a new Muslim political movement may siphon votes from the Greens and hurt them electorally.

    There is no ready formula, then, for the Greens to shore up – let alone expand – its vote outside parliament.

    What’s next for the Greens?

    The Guardian’s polls tracker suggests the Greens’ primary vote has increased since the 2022 election, from 12.3% to 14%.

    However, the party faces several tough political contests to retain or extend the gains it won in 2022. And its disappointing results at recent elections in Queensland and the Australian Capital Territory suggest the party has its work cut out.

    As ABC election analyst Antony Green has noted, Labor holds three seats with margins below 5% where the Greens have a chance. However, the Greens also hold seats on slim margins that Labor or another candidate could win.

    The Greens’ lower-house gains at the last election came in the inner-Brisbane seats of Ryan, Brisbane and Griffith. The Greens will have to fight hard to retain all three next month.

    The most recent polls suggest Labor will be returned by a narrow margin at the May 3 election – probably helped along by the return of United States’ President Donald Trump.

    On Wednesday Bandt said the Greens “are within reach of winning seats right across the country and, in the minority government, we can make things happen”.

    However, seven new Independents won lower house seats at the last election. Should that trend continue, and if Labor does need to form a minority government, the Greens may find themselves fighting for the balance of power on a crowded crossbench.

    Picking fights or delivering policy?

    If the Greens party wants to be seen as a serious political force, it must decide if its traditional political approach – hard-nosed policy opposition and picking political fights – is still the best strategy.

    Bandt’s mentor, former Greens leader Christine Milne, got results from minority pacts with both sides of politics. She believed the Greens’ role was to build political capital and then, when an opportunity such as minority government arose, to spend that capital on achieving significant policy outcomes.

    On Wednesday, Bandt indicated a willingness to work towards meaningful policy outcomes in the next parliament. He claimed the Greens were willing to compromise in the event of minority government, saying:

    we understand the need to cooperate and to come up with an arrangement that forms stable, effective and progressive government […] We will go into any discussions with goodwill and with [an] open mind.

    Kate Crowley 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. Adam Bandt says the Greens can deliver ‘real change’ – but the party should choose its battles more wisely – https://theconversation.com/adam-bandt-says-the-greens-can-deliver-real-change-but-the-party-should-choose-its-battles-more-wisely-253851

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Russia: Moscow supported more than three thousand innovative solutions with patent grants

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Since 2022, Moscow developers have been approved for city grants to patent 3,180 inventions and utility models in Russia and abroad. The total amount of grants was more than 290 million rubles. The support was used by creators of innovations in the field of radio electronics, robotics, public safety, construction and information technology.

    Entrepreneurs can receive a grant of 75 thousand rubles for each Russian patent for an invention or utility model registered in the last 12 months. The maximum amount of grant support for submitted foreign patent applications is up to five million rubles per year.

    Two grants were received by a company that develops and manufactures robotic devices for industrial high-pressure cleaning. The funds were allocated for patenting a microhydropercussion hydrodynamic cleaning complex for the inner surface of heat exchanger pipes. Patents for the invention are currently being processed in Russia and abroad.

    Another recipient of financial support was a research and production enterprise that manufactures innovative equipment for disinfecting air, hard surfaces and water from all types of dangerous bacteria. The technology of high-intensity pulsed ultraviolet radiation allows disinfecting premises of all classes with an efficiency of up to 99.9 percent in a minimum period of time – from 30 seconds. More than 3.5 thousand such installations are successfully used in more than 500 Russian organizations. In addition, the enterprise exports its products to the Republic of South Africa, Mexico, Belarus and Kazakhstan.

    A Russian developer and manufacturer of thermal indicators has received five grants for filing foreign patent applications and nine grants for Russian patents. The company has developed a new type of thermal fire alarm designed to prevent pre-emergency and pre-fire situations by detecting overheating of contact connections that occur in electrical distribution devices. Its products are patented in more than 40 countries.

    As part of the strategy Sergei Sobyanin for business development and innovation support, the Moscow Innovation Cluster promotes support for patenting and commercialization of intellectual property through grant, consulting, and educational programs, as well as preferential lending secured by rights to the results of intellectual activity.

    The application period for grant support for patenting inventions and utility models in Russia and abroad is open until June 30, 2025.i.moscow platform.

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

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

    https: //vv.mos.ru/nevs/ite/152344073/

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Going For Growth: backing NZ wool producers

    Source: New Zealand Government

    The Government is backing New Zealand sheep farmers and the wool industry with a change to government procurement rules, Economic Growth Minister Nicola Willis and Associate Agriculture Minister Mark Patterson announced today.

    “From 1 July, government agencies will be directed to use woollen fibre products in the construction and refurbishment of government buildings, where practical and appropriate,” Nicola Willis says.

    “The move delivers on a New Zealand First and National Party coalition agreement to preference the use of woollen fibres in government buildings.

    “We’re showing our commitment to woollen fibres by leveraging government spending, to provide more targeted opportunities for wool producers. This will help to increase jobs, employment, and drive economic growth. 

    “The new requirement will encourage innovation in the building materials industry which will lead to more investment and new markets opening up. Woollen fibres have a wide range of uses in buildings including carpet, upholstery, insulation, and acoustic panels. 

    “There are also sustainability and health benefits to using wool. Wool’s natural qualities allow it to dampen sound and absorb pollutants, and woollen fibres contribute to healthier indoor environments by naturally regulating humidity and improving air quality.   

    Mark Patterson says “the new requirements go beyond procurement’s immediate aim of purchasing goods and services. They demonstrate the Government’s support for the wool industry and farmers by encouraging increased demand for woollen fibre products in government-owned buildings. 

    “We’re walking the talk. This move will hopefully inspire private businesses to follow suit.”

    “We are acting to get even greater value from our investments. It is the Government’s role to create the conditions for businesses to grow the economy and invest in creating more jobs.

    “The wool sector contributed $549 million to the New Zealand economy in the financial year ending 2024 from exporting processed and unprocessed wool products. 

    “Wool has been synonymous with New Zealand since the early settlers bought sheep here 200 years ago, and New Zealand remains the world’s third largest wool producer, after China and Australia and accounts for about 9 per cent of total world wool production.” 

    “Supporting the NZ wool industry is a key part of the positive steps the Government is taking to add value to the economy.

    “Our wool industry has recently been through a tough time with competition from synthetic fibres in global markets and a decline in both sheep numbers and the volume of wool produced. The sector is turning the tide with wool prices now covering the shearing costs, but we know there is more to be done.

    “There’s a real swing back to natural fibres with consumer interests moving back to renewable fibres such as wool.”

    The new procurement requirements will apply to the construction of government owned buildings that cost $9 million and more, and to refurbishments of $100,000 and more. The requirement will apply to about 130 agencies. 

    A wider review to improve the Government Procurement Rules is underway to remove red tape and promote responsible spending and competition. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Supporting Kiwis with the costs of power

    Source: New Zealand Government

    Energy Minister Simon Watts is welcoming an extension to the industry funded Power Credit Scheme which is supporting lower income Kiwis with the costs of power. 
    The Scheme supports those who are struggling to pay their energy bills and are affected by the phase-out of a low fixed electricity charge by offering them a $110 power credit from their providers. 
    “Extending the Scheme will help alleviate the financial burden on households by providing them financial relief in the face of rising costs,” Mr Watts says.
    “It has been a challenging time for many Kiwis, with cost-of-living pressures making it difficult for households to budget for everyday necessities including food, rent, and power. That’s why this Government is working hard to grow the economy to reduce the cost of living and help Kiwi households get ahead.
    “Things won’t change overnight but our plan to support Kiwis is working. We have gotten inflation under control, delivered tax relief which has put more money back into Kiwis pockets, and supported families with childcare payments through FamilyBoost. 
    “Recent increases in power prices are likely to put further pressure on household budgets. That’s why I have worked with larger electricity retailers and lines companies to secure a five-year industry funded extension to the Power Credit Scheme, through to 2032.
    “I acknowledge the large retailers and lines companies for providing the scheme as the Regulations are phased out and afterwards.
    “I encourage anyone coming off a low fixed charge plan to check with their power company to see if they are eligible for a power credit,” Mr Watts says.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Economy Commentary – Tariff uncertainty keeps OCR ‘downward bias’ in place – CoreLogic’s Kelvin Davidson

    Source: CoreLogic – Commentary from Kelvin Davidson, Chief Property Economist at CoreLogic, soon to rebrand to Cotality

    As widely expected, the Reserve Bank’s Monetary Policy Committee (MPC) cut the official cash rate today by 0.25%, taking it to 3.5%. The decision reflected the fact that inflation remains well within the target band and that the economy is still subdued.
    Today’s release was an ‘interim’ Monetary Policy Review rather than a full Statement, which means we don’t get the updated economic forecasts and detailed analysis. But the MPC’s commentary today still took the time to discuss tariffs and possible effects.
    In a nutshell, uncertainty remains high, but the central view right now is that inflation effects are not clear-cut; a weaker NZ$ could raise imported inflation, but a diversion of goods away from the US and towards NZ by large global exporters could work in the opposite direction.
    Then in regard to NZ’s economic growth itself, the general tone of the commentary is that it’s likely to be slower than in a world without tariffs. As such, the MPC noted they have scope to lower the OCR further as appropriate and as the effects of tariffs become clearer.
    In other words, NZ’s interest rate environment still has a ‘downward bias’ and it’ll be interesting to see what happens to mortgage rates in the coming weeks. The next OCR decision is 28 May, and prior to that we’ll have had a bit more information in the form of Q1’s CPI data (17 April) and labour market figures (7 May).
    For the property market and mortgage borrowers, ‘uncertainty’ is also a buzzword. February’s Reserve Bank lending data shows that borrowers continue to hedge their bets, with floating debt still popular (41% of loans) but fixed terms of longer than 12 months also coming back into focus. At 20% of activity in February, fixes of greater than 12 months were the most popular they have been since July last year.
    For now, tariff-uncertainty aside, our expectation is a subdued upturn for the property market in 2025, with sales volumes and house prices rising slowly. For individual borrowers, it will mean finding a balance between securing the best/lowest mortgage rate but also weighing up the certainty that a longer-term fixed loan can offer.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Reserve Bank Announcements – Recruitment of new External Member to the Monetary Policy Committee

    Source: Reserve Bank of New Zealand

    9 April 2025 – A public appointment process has started for a new external member of the Reserve Bank of New Zealand’s Monetary Policy Committee (MPC) to replace Professor Bob Buckle when his term expires on 30 September 2025.

    Under its remit, the MPC is responsible for maintaining a stable general level of prices over the medium term.

    The MPC is made up of 4 internal RBNZ members and 3 external members. Monetary policy decisions, such as setting the Official Cash Rate, are made by the 7 members of the committee. This appointment process is to replace one of the external members; the Committee is also carrying one vacancy for an internal member which will be filled towards the end of the year.

    MPC appointments are made by the Minister of Finance, on the recommendation of the RBNZ Board.

    Board Chair Neil Quigley said that “suitably qualified candidates will be interviewed later this year and assessed against the appointment criteria, then the name of the candidate recommended by the Board will be provided to the Minister of Finance.”

    Applications will be assessed by the MPC Appointments Committee against various criteria including:

    expertise in monetary policy and macroeconomics (which may be demonstrated by research and/or professional practice)
    relevant professional knowledge, skills and experience in public policy and banking.  

    Applicants will require a strong understanding of conflicts of interest, the market sensitivity associated with monetary policy decisions, and the constraints on other activities that are necessarily associated with membership of the MPC.

    “The final appointment decision and timing is up to the Minister, but we anticipate an appointment to be announced by the end of September,” Professor Quigley said. The new MPC member is expected to officially begin their appointment on 1 October 2025.

    More information

    Application Pack External Member – Monetary Policy Committee (PDF, 158KB): https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=05041b903f&e=f3c68946f8
    More information about the Monetary Policy Committee: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=1af91dff21&e=f3c68946f8
    For further information on this appointment process contact: https://www.appointbetterboards.co.nz/contact-us/

    Length of appointments

    MPC members serve fixed terms:

    Internal members must be appointed for a term of up to 5 years and can be reappointed for 2 further terms as an internal member of up to 5 years each.
    External members must be appointed for a term of up to 4 years and can be reappointed for 1 further term as an external member of up to 4 years.

    Latest OCR decision: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=07ddc5e261&e=f3c68946f8

    MIL OSI New Zealand News –

  • MIL-OSI Russia: In April, more than 600 educational events were prepared for schoolchildren and college students

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    More than 600 educational events were prepared for young Muscovites, their parents and teachers in April. Registration for them is available on the service “Horizons” based on the Moscow Electronic School (MES). Here you can find a list of all free educational events for children and youth in the capital — lectures, festivals, master classes, competitions, quests, hackathons and excursions.

    “The Horizons service allows schoolchildren and college students to attend sports, cultural and educational events. Since its launch in 2023, it has been used more than 2.5 million times, and the number of unique users has exceeded 1.3 million. The service was most in demand among 10th-11th grade students and parents of schoolchildren,” the press service of the capital said.

    Department of Education and Science.

    So, on April 12 at 12:00 a master class will be held at the Moscow University of Finance and Law “Traditional Chinese Cuisine”. Participants will not only learn about the national dishes of the Celestial Empire, but also learn to write their names in Chinese. Schoolchildren and college students are invited to the lesson.

    On April 12 at the same time, the Palace of Children and Youth Creativity “Vostochny” will host a festival for schoolchildren master class in karate. The course is suitable for both beginners and experienced athletes. And at 16:00, students will be able to join the lesson right here “Rhythm in vocals”The children will be told about methods of working with musical ear and will be revealed the secrets of expressive performance.

    Available for primary school students and their parents excursion through the enclosure complex of the Bitsevsky Forest natural and historical park. Guests will get acquainted with wild and farm animals – squirrels, pheasants, chickens, goats and sheep, and learn interesting facts about them. The event will begin on April 16 at 14:30.

    On April 19 at 12:45 at the Russian State University of Oil and Gas named after I.M. Gubkin you can attend a lecture “Computer – from Babbage to smartphone”. Pupils of grades 7–11, college students, their parents and teachers will be told about the creation of computers and the first programs.

    In total, more than 10 thousand events were published in the Gorizonty service. The events are divided into four areas: “Technology, exact, natural sciences”, “Humanities and economics”, “Medicine, health and sports”, “Culture and art”. For the convenience of users, a filter is available that helps select an event according to age. After registration, information about the event automatically appears in the schedule of the MES electronic diary, and is also sent to e-mail.

    The Horizons service is available in the School section (News tab) of the electronic diary and in the Events section of the mobile application “MESH Diary”. You can also use the service on the website Horizons.Mos.ru.

    “Moscow Electronic School”— a joint project of the capital’s departments education and science Andinformation technology, created in 2016. A single digital educational platform is available to Moscow teachers, students and their parents. Among the main services of “MES” are a library of educational materials, an electronic diary and journal, “Moskvenok”, “Student Portfolio” and “Olympiads”.

    Providing the capital’s schoolchildren with modern digital services increases the efficiency of the educational process, helps children to plan their school and personal time wisely and corresponds to the objectives of the “All the Best for Children” national project “Youth and Children”.

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

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

    https: //vv.mos.ru/nevs/ite/152355073/

    MIL OSI Russia News –

  • MIL-OSI: Bitget Token (BGB) Burn Model Updated with First Quarterly Burn Exceeding 30 Million Tokens

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 09, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced a significant update to the burn mechanism of Bitget Token (BGB). This enhancement introduces a utility-based model that ties BGB’s quarterly burn amount to its on-chain usage, signifying the token’s evolution towards higher transparency, compliance, and sustainable token value.

    To better reflect the growing integration of BGB across centralized and decentralized ecosystems, the new burn mechanism links quarterly burn volumes to the amount of BGB used for on-chain gas fees through Bitget Wallet’s GetGas accounts. By anchoring the burn to real usage, the model facilitates BGB’s transformation as a key asset within Web3 and real-world applications. The burn formula accounts for BGB’s usage as gas fees, quarterly average price, and predefined constants to ensure a dynamic and verifiable process.

    The first quarterly burn under this new mechanism has now been calculated. In Q1 2025, 6,943.63 BGB were topped up in Bitget Wallet’s GetGas accounts for on-chain gas fee usage. Based on the new formula, a total of 30,006,905 BGB will be burnt in this quarter. All data related to the burn — including transaction records and wallet addresses — are publicly accessible on-chain to ensure full transparency.

    “BGB is becoming a vital bridge between centralized and decentralized ecosystems. By linking its burn mechanism to actual on-chain utility, BGB’s quarterly burn amount can evolve with real usage. This update incentivizes adoption and enables transparent and sustainable tokenomics,” said Gracy Chen, CEO of Bitget. “As BGB continues to expand its role in on-chain ecosystems, a more sustainable burn mechanism can be expected.”

    Bitget Token (BGB) is the utility token that fuels the entire Bitget ecosystem, spanning both its centralized exchange and decentralized wallet. BGB can be staked to earn passive income or qualify for popular token airdrops via Launchpool and PoolX. It also unlocks early access to high-potential Web3 projects through Launchpad and LaunchX. On-chain, BGB is used to cover multi-chain gas fees in Bitget Wallet. Holding BGB grants users exclusive perks such as VIP-level upgrades and profit-sharing opportunities for elite traders. More than just a token, BGB is a gateway for users to engage with, influence, and grow alongside the Bitget ecosystem.

    Earlier this year, the BGB ecosystem was strengthened by permanently burning 800 million team-held tokens, representing 40% of the total supply. Following this burn in January 2025, the total supply was reduced to 1.2 billion, with 100% now in circulation.

    Launched in July 2021 at an initial price of 0.0585 USDT, BGB reached an all-time high of 8.5 USDT in December 2024 — delivering over 100x in cumulative gains. According to CoinMarketCap, it now ranks among the top three CEX native tokens by market cap and is listed as a top 30 crypto asset.

    For more information about the BGB burn, visit this link.

    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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/081df246-71da-4680-a026-fe10467ba259

    The MIL Network –

  • MIL-OSI USA: Durbin, Duckworth Join Colleagues To Demand Answers, Return Of Maryland Father Wrongfully Deported To El Salvador

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    April 08, 2025

    “When the Administration makes a mistake as severe as sending an individual with protected status to a foreign prison, it cannot simply shrug off responsibility and allege that there is nothing it can do to reunite him with his wife and child, who are American citizens,” the lawmakers wrote in their letter to DHS Secretary Noem and ICE Acting Director Lyons

    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, and U.S. Senator Tammy Duckworth (D-IL) today joined U.S. Senator Chris Van Hollen and 22 Senators in writing to U.S. Homeland Security Secretary Kristi Noem and U.S. Immigration and Customs Enforcement (ICE) Acting Director Tedd Lyons.  The Senators’ letter urged Secretary Noem and Acting Director Lyons to return Kilmar Abrego Garcia, a father who was living legally, under a protected status, in Maryland with his family until he was wrongfully deported without due process by the Trump Administration last month to a maximum-security prison in El Salvador.  The Administration has admitted that Abrego Garcia’s deportation was the result of an “administrative error.”

    In their letter, the Senators call on the Trump Administration to facilitate Abrego Garcia’s return and ask for responses to questions regarding ICE’s enforcement policies that may have led to this grave error – and what measures they will take to ensure such an incident does not occur again.

    The Senators began, “We write to express our concerns regarding the deportation of Kilmar Abrego Garcia to El Salvador, an action which the Administration admitted in a recent court filing was an ‘administrative error.’ It is unacceptable that anyone would be deported without proper due process, especially where an immigration judge has granted the individual protected status that explicitly prohibits his return to El Salvador. We demand that the Administration bring Mr. Abrego Garcia home immediately.”

    “Per court filings, Mr. Abrego Garcia came to the United States in 2011 as a teenager fleeing gang threats in his home country of El Salvador. In 2019, ICE arrested Mr. Abrego Garcia over an unfounded and anonymous allegation that he was involved with MS-13, which placed him in deportation proceedings. The U.S. immigration judge in the case ultimately found that it was in fact Mr. Abrego Garcia who was at risk of being the victim of gang violence,” the Senators wrote.

    “This ruling was made under the Trump Administration in 2019 and was in fact required by law under section 241(b)(3) of the Immigration and Nationality Act once the immigration judge made the factual determination that Mr. Abrego Garcia faced a likelihood of torture in El Salvador. At the time, the Trump Administration made no effort to appeal the judge’s ruling or pursue Mr. Abrego Garcia’s deportation further. Court filings attest that Mr. Abrego Garcia has complied with regular ICE check-ins, has no criminal charges, and has had no contact with any other law-enforcement agency since his release in 2019,” the Senators continued their letter.

    “Mr. Abrego Garcia is currently being held at CECOT, a maximum-security prison in El Salvador notorious for human rights abuses, after being deported in violation of the law to the very country where his return was impermissible,” they wrote. “And when the Administration makes a mistake as severe as sending an individual with protected status to a foreign prison, it cannot simply shrug off responsibility and allege that there is nothing it can do to reunite him with his wife and child, who are American citizens.”

    “On Friday, a U.S. District Court judge in the District of Maryland ordered the government to return Mr. Abrego Garcia to the United States, and on Monday the Fourth Circuit denied the government’s motion to stay the order,” the Senators urged.

    While the Supreme Court has since lifted the order to immediately return him to the United States, it also made clear that Mr. Abrego Garcia has the right to challenge this illegal deportation in the lower courts.  The Administration should correct its egregious “error” and reunite Mr. Abrego Garcia with his wife and child, who are both U.S. citizens while that litigation is pending.     

    The Senators closed the letter with a series of questions to Secretary Noem and Acting Director Lyons, requesting a response by April 22.

    Joining Durbin, Duckworth, and Van Hollen in sending the letter were U.S. Senators Angela Alsobrooks (D-MD), Richard Blumenthal (D-CT), Cory Booker (D-NJ), Chris Coons (D-DE), Martin Heinrich (D-NM), Mazie Hirono (D-HI), Tim Kaine (D-VA), Amy Klobuchar (D-MN), Ed Markey (D-MA), Jeff Merkley (D-OR), Alex Padilla (D-CA), Gary Peters (D-MI), Jack Reed (D-RI), Bernie Sanders (I-VT), Brian Schatz (D-HI), Adam Schiff (D-CA), Jeanne Shaheen (D-NH), Mark Warner (D-VA), Elizabeth Warren (D-MA), Peter Welch (D-VT), Sheldon Whitehouse (D-RI), and Ron Wyden (D-OR).

    A copy of the letter is available here and below:

    April 8, 2025

    Dear Secretary Noem and Acting Director Lyons,?? 

    We write to express our concerns regarding the deportation of Kilmar Abrego Garcia to El Salvador, an action which the Administration admitted in a recent court filing was an “administrative error.” It is unacceptable that anyone would be deported without proper due process, especially where an immigration judge has granted the individual protected status that explicitly prohibits his return to El Salvador. We demand that the Administration bring Mr. Abrego Garcia home immediately.  

    According to court filings, on March 12, 2025, shortly after Mr. Abrego Garcia had picked up his son from the boy’s grandmother’s house, U.S. Immigration and Customs Enforcement (ICE) stopped Mr. Abrego Garcia, inaccurately telling him that his protected status had changed. After giving his wife a few minutes to arrive to take custody of his son, ICE arrested and detained him without any further explanation as to the reason for his arrest. ICE then transferred Mr. Abrego Garcia and other detainees to Texas, where on March 15, 2025, they were loaded onto planes and deported to El Salvador. Mr. Abrego Garcia was reportedly on the only plane that was not sent under the authority of the Alien Enemies Act but instead was transporting migrants with formal removal orders signed by a judge. This occurred despite the fact that ICE knew, as the Administration conceded in court, that his protected legal status specifically prohibited his removal to El Salvador.  

    Per court filings, Mr. Abrego Garcia came to the United States in 2011 as a teenager fleeing gang threats in his home country of El Salvador. In 2019, ICE arrested Mr. Abrego Garcia over an unfounded and anonymous allegation that he was involved with MS-13, which placed him in deportation proceedings. The U.S. immigration judge in the case ultimately found that it was in fact Mr. Abrego Garcia who was at risk of being the victim of gang violence. The judge found that Mr. Abrego Garcia and his relatives credibly testified that gang members had been trying to extort his family and recruit him and his brother to join the gang, forcing his family to move multiple times, ultimately compelling both him and his brother to flee to the United States out of fear.  

    The immigration judge agreed that Mr. Abrego Garcia would likely face persecution if deported back to El Salvador and thus granted him a form of legally mandated protection known as “withholding of removal.” Withholding of removal, which may only be granted by an immigration judge, provided Mr. Abrego Garcia the ability to stay and work in the United States despite being the subject of a deportation order. This ruling was made under the Trump Administration in 2019 and was in fact required by law under section 241(b)(3) of the Immigration and Nationality Act once the immigration judge made the factual determination that Mr. Abrego Garcia faced a likelihood of torture in El Salvador. At the time, the Trump Administration made no effort to appeal the judge’s ruling or pursue Mr. Abrego Garcia’s deportation further. Court filings attest that Mr. Abrego Garcia has complied with regular ICE check-ins, has no criminal charges, and has had no contact with any other law-enforcement agency since his releasein 2019.  

    Mr. Abrego Garcia is currently being held at CECOT, a maximum-security prison in El Salvador notorious for human rights abuses, after being deported in violation of the law to the very country where his return was impermissible. Though the Administration has admitted in court that his deportation was a mistake, it alleges that there is nothing it can do to address this injustice, given that Mr. Abrego Garcia is now in the jurisdiction of the government of El Salvador as part of an agreement to imprison U.S. deportees in exchange for financial compensation.  

    Your unwillingness to immediately rectify this “administrative error” is unacceptable. Under multiple Democratic and Republican administrations, the Department of Homeland Security and ICE followed the rule of law and worked to quickly return people who were wrongfully deported, in the rare instances where such “administrative errors” occurred. The Administration’s mass deportation agenda does not transcend immigration law or the need for due process. And when the Administration makes a mistake as severe as sending an individual with protected status to a foreign prison, it cannot simply shrug off responsibility and allege that there is nothing it can do to reunite him with his wife and child, who are American citizens. On Friday, a U.S. District Court judge in the District of Maryland ordered the government to return Mr. Abrego Garcia to the United States, and on Monday the Fourth Circuit denied the government’s motion to stay the order. The Administration should promptly comply with the district court’s order.

    To address our concerns about this matter and to provide clarity on the Department of Homeland Security and ICE’s policy regarding the immigration enforcement actions against immigrants with protected status, we ask that your Administration answer the following questions by April 22, 2025: 

    1. The standard and legal course for the government to take to deport someone with protected status would be to reopen the case, introduce evidence that grounds for terminating the protected status exist, and then allow an immigration judge to make a determination as to their status. Why was that course of action not taken in this case?  
    2. In the past, DHS and ICE worked to quickly return people to the U.S. who were erroneously deported. Why is DHS and ICE no longer following these well-established procedures and practices?   
    3. Vice President J.D. Vance and Press Secretary Karoline Leavitt have both claimed that Mr. Abrego Garcia is an MS-13 gang member, but the government was unable or unwilling to provide any evidence to substantiate that claim to the court. Please provide any evidence of Mr. Abrego Garcia’s membership in MS-13.
    4. Given that the Administration is reportedly paying $6 million to El Salvador to detain deported immigrants at CECOT, why does it believe that there is nothing it can do to return Mr. Abrego Garcia to his family in the United States? Please provide a copy of the agreement between the U.S. and El Salvador on the detention of people deported from the U.S. in CECOT.
    5. Are there any other cases that the Administration is aware of in which an immigrant with protected status was illegally deported without due process? If so, identify those cases and explain what, if anything the government is doing to rectify those errors. 
    6. Will the Administration commit to reviewing all of the cases of its deportees to ensure that it has appropriately identified all of the errors? 
    7. What actions will the Administration take in the future to ensure that immigrants with protected status are afforded their appropriate due process? 

    We appreciate your prompt attention to this vital matter and look forward to reviewing your fulsome, timely response. 

    Sincerely,

    -30-

    MIL OSI USA News –