BEAUMONT, Texas – A Nome, Texas man has been sentenced to federal prison and ordered to pay over $2 million in restitution for his role in a bank fraud conspiracy in the Eastern District of Texas, announced Acting U.S. Attorney Jay R. Combs.
Eulice Emerson Alvey, also known as Trey, 50, pleaded guilty to conspiracy to commit bank fraud and was sentenced to 57 months in federal prison by U.S. District Judge Marcia A. Crone on June 5, 2025. Judge Crone also ordered Alvey to pay restitution in the amount of $2,075,458.57.
According to information presented in court, on September 6, 2018, a Neches Federal Credit Union (NFCU) member contacted the credit union and reported there were loans reflected on their account that they did not request. Shortly thereafter, another member notified the credit union that they also had loans on their account that were not theirs. This type of notification then became common over the next few weeks, involving as many as 30 members, all associated with Billy Ray Thomas, an assistant branch manager for NFCU. An investigation revealed Thomas was working with Alvey to commit bank fraud. Alvey would fabricate fraudulent purchase invoices for tractors from his business, Oil City Tractor, LLC, and send the invoices to Thomas. Thomas would then use credit union members’ information to request a loan. Once the loan was approved, Thomas would share the proceeds with Alvey and they would use the money for personal and business ventures. In April 2025, Thomas was sentenced to 34 months in federal prison.
This case is being investigated by FBI’s Beaumont Field Office and the Beaumont Police Department. This case is being prosecuted by Assistant U.S. Attorney Reynaldo P. Morin.
overnor Kathy Hochul today issued an update on the State’s comprehensive air monitoring efforts to track air quality statewide and keep New Yorkers safe this summer. New York residents and visitors are reminded to include air quality awareness in their daily warm weather routines. In addition, New York State is issuing an Air Quality Health Advisory for today, Friday, June 6, for the Adirondacks, Eastern Lake Ontario, and Western New York regions for fine particulate matter pollution caused by wildland fires in Western Canada.
“Using the latest science and data, New York continues to track air quality conditions across the State to keep New York communities safe,” Governor Hochul said. “As temperatures begin to climb during the summer months and less predictable factors like distant wildfires occur, I strongly encourage New Yorkers to stay informed and prepare for changes in air quality by paying attention to the State’s Air Quality Health Advisories and take necessary precautions to stay safe.”
The New York State Department of Environmental Conservation (DEC) provides daily air quality forecasts to ensure air quality information is available at New Yorkers’ fingertips. While New York State has some of the nation’s most stringent air quality regulations to reduce air pollution and protect public health and the environment, there are certain days that ozone or particulate matter can impact air quality in your community.
Using data collected from more than 50 sites across the state, DEC and Department of Health (DOH) issue Air Quality Health Advisories when DEC meteorologists predict levels of pollution, either ozone or fine particulate matter (PM2.5), are expected to exceed an Air Quality Index (AQI) value of 100. The AQI was created as an easy way to correlate levels of different pollutants to one scale, with a higher AQI value indicating a greater health concern.
An Air Quality Health Advisory for PM2.5 is being issued for Friday, June 6, 2025, for the Adirondacks, Eastern Lake Ontario, and Western New York regions due to the impact of smoke from wildfires in Canada.
New Yorkers are encouraged to check airnow.gov for accurate information on air quality forecasts and conditions. Information about exposure to smoke from fires can be found on DOH’s website.
DEC Commissioner Amanda Lefton said, “It is critical that New Yorkers be Air Quality Aware this summer to stay safe and healthy“ DEC continues to track air quality across the state and works with our partners at the Department of Health to keep the public informed about how to protect themselves and their families and reduce their exposure to air pollution. New Yorkers can visit DEC’s website for the daily forecast or use trusted sources like EPA’s AirNow app, which uses air quality data provided by DEC’s statewide monitoring network.”
New York State Health Commissioner Dr. James McDonald said, “Pollutants like particulate matter from wildfires or ground-level ozone can pose serious health risks—especially for those with heart conditions or lung disease such as asthma, as well as the very young, those over 65 years old and pregnant people. Just as you check the weather on your phone each morning, we encourage all New Yorkers to visit to airnow.gov for the latest air quality forecast and be on the lookout for Air Quality Health Advisories from the Department of Environmental Conservation and the Department of Health. When air quality is poor, protect yourself by staying inside, reduce exposure and minimize exertion when outdoors.”
Air pollution can harm public health and natural resources in a variety of ways. Hot summer weather sets the stage for two major pollutants of concern for human health: the formation of ozone and fine particulate matter (PM2.5), tiny solid particles or liquid droplets in the air that are 2.5 microns or less in diameter. Fish and wildlife show harmful effects from acid rain and mercury in air. Greenhouse gases in the air are changing the world’s climate and contributing to harmful impacts including extreme heat, deadly flooding, drought, fires, rising sea levels, and severe storms.
Extreme Heat
Governor Hochul recently highlighted new and enhanced resources available to protect New York communities from extreme heat this summer as recommended by the State’s Extreme Heat Action Plan, including:
New support for cooling at home: With the new Essential Plan Cooling program, NY State of Health will provide eligible Essential Plan members a free air conditioner to help keep their homes cool. This will complement assistance available in 2025 through the HEAP Cooling program which served more than 23,000 households in 2024.
Better access to cooling centers: New resources are available to help connect New Yorkers with safe spaces for cooling. The New York State Department of Health and Division of Homeland Security and Emergency Services (DHSES) will continue to coordinate with local health departments and emergency managers to update the Cooling Center Finder throughout summer 2025. DOH offers new resources to provide information about best practices for setting up cooling centers and how these locations could serve as clean air centers. Round 8 of the Climate Smart Communities grant program is now open, making $22 million available to fund GHG mitigation and climate adaptation projects, including establishing cooling centers.
Additional support for cool buildings: Funding available through the New York State Energy Research and Development Authority (NYSERDA) supports weatherization and clean and efficient heating and cooling that can improve extreme heat resilience at homes, community anchor institutions, schools, and more. The Office of General Services’ new “Decarbonization and Climate Resiliency Design Guide” was released for new and majorly renovated State building projects to assess and reduce climate risk (including extreme heat and Urban Heat Islands) through proactive design.
New investments in cool schools: The Education Law newly requires public school districts and BOCES to develop an extreme heat policy, which establishes certain temperature thresholds. NYSERDA offers additional funding to install clean cooling and heating at schools, for example through funding as part of the Clean Water, Clean Air and Green Jobs Environmental Bond Act.
Enhanced tools and funding for cool communities: Extreme heat advice and forecasts for New Yorkers, preliminary extreme heat exposure maps and DOH’s Heat Vulnerability Index help communities understand exposure and vulnerabilities. Programs such as Climate Smart Communities fund communities in planning, designing, and implementation solutions. New and expanded funding supports nature-based solutions such as urban forests, urban farms, and community gardens to cool neighborhoods and mitigate heat islands. Governor Hochul’s New York Statewide Investment in More Swimming (NY SWIMS) initiative expanded outdoor swimming through the Connect Kids to Swimming Instruction Transportation grant program and advanced capital projects for swimming facilities in underserved communities through the NY SWIMS Round One competitive grant program.
DOH recently launched an interactive New York State Heat Risk and Illness Dashboard that allows the public and county health care officials to determine the forecasted level of heat-related health risks in their area and raise awareness about the dangers of heat exposure.
Check out “DEC Does What?!” podcast episode #4 The Air Up There (May 2024) where air pollution meteorologists explain the Air Quality Index and how to use it, how weather conditions and different seasons can affect air quality, whether New Yorkers have to worry about wildfire smoke, and what it’s like to measure air quality in Antarctica.
Brazil generates power from a diverse range of sources that include thermal sources (gas, oil, and coal), hydropower, nuclear, and renewable. Hydropower accounts for the majority of the country’s annual power generation. However, overdependence on hydropower has made the country vulnerable to droughts. To overcome the challenge, the country is rapidly developing its renewable power capacity. In 2024, renewable power accounted for 36.7% of the country’s annual power generation and is expected to increase to 50.7% in 2035, according to GlobalData, a leading data and analytics company.
Attaurrahman Ojindaram Saibasan, Senior Power Analyst at GlobalData, comments: “Opportunities in Brazil’s power sector stem from the abundance of natural resources for power generation, as well as from the government’s policies, which encourage their development. This is especially important in the case of renewable technologies. The renewable power market has developed substantially in Brazil in recent years. The success of the development of renewables has primarily been due to the introduction of the government’s auctioning system.”
The government is focusing on the rapid development of the renewable power sector in the country, especially wind power and solar PV. Several wind and solar PV projects are currently under construction in the country. This has opened a wide range of opportunities for local and international equipment manufacturers.
Saibasan adds: “Full liberalization of the power market is expected to bring in a myriad of opportunities, especially in the renewables segment. Currently, only major consumers, such as factories, shopping centers, and large corporations, have the autonomy to select their electricity supplier within Brazil’s Free Contracting Market (ACL — Ambiente de Contratação Livre).”
By the year 2028, it is anticipated that all electricity consumers, encompassing small businesses and residential households, will possess the ability to choose their energy provider. At present, the market operates on a largely “one-size-fits-all” basis. However, post-2028, significant developments are expected, including:
Green energy retailers offering exclusively 100% renewable electricity.
Smart contracts with dynamic pricing that varies according to the time of day, weather conditions, and other factors.
Peer-to-peer energy trading, enabling individuals to sell surplus energy from rooftop solar installations to their neighbors.
Energy-as-a-service models, eliminating the need for consumers to own solar panels or batteries by allowing them to subscribe to energy services instead.
Saibasan concludes: “Liberalized markets hold considerable appeal for private investors. Both local and international energy companies. This is expected to drive the renewables market and increase its share in annual generation to over half of total annual power generation in 2035.”
Source: United States House of Representatives – Congressman Bob Latta (R-Bowling Green Ohio)
Latta Receives Icon Award for Leadership in Energy
Washington, June 6, 2025
Last night, the Congressional Energy Engagement Foundation (CEEF) presented Congressman Bob Latta (R-OH-5) with its Icon Award in recognition of his leadership on energy policy in Congress. Congressman Latta currently serves as the chairman of the Energy Subcommittee of the House Energy and Commerce Committee.
The Congressional Energy Engagement Foundation is a non-profit organization dedicated to advancing the understanding and adoption of advanced nuclear energy.
“I’m honored to be recognized by the Congressional Energy Engagement Foundation for my work in advancing American energy policy. The fact is, we need more energy produced here in the United States, not less. I look forward to working with CEEF as I continue to champion legislation to strengthen U.S. energy production and unleash America’s energy potential,”said Latta.
“Congressman Bob Latta has long demonstrated thoughtful leadership and steadfast commitment to advancing America’s energy future. His support for innovation, reliability, and bipartisan engagement makes him a true champion—not only of nuclear energy, but, for his longstanding support of the mission of the Congressional Energy Engagement Foundation. We are proud to recognize him as a CEEF ICON for his enduring contributions on Capitol Hill and beyond,”said Michelle Amante-Harstine, CEO, Congressional Energy Engagement Foundation.
From left to right: Michelle Amante-Harstine, Congressman Latta, Gard Clark. Photo courtesy of Matt Vines.
Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)
Toledo, OH – Today,Congresswoman Marcy Kaptur (OH-09) Ranking Member of the House Appropriations Subcommittee on Energy and Water Development released the following statement upon the news that the Department of Energy has cancelled 24 projects nationwide, totaling $3.7 Billion in investment in American manufacturing, including a $45.1 Million investment in an Industrial Demonstration Project for Libbey Glass LLC’s Toledo, Ohio facility.
“The abrupt termination of $3.7 Billion in clean energy investment is shortsighted and malicious. This decision will raise energy costs for American families and undermine our nation’s competitive edge. In Northwest Ohio, it endangers jobs, and undermines manufacturing in our critical glass industry, while empowering China and our global competitors,” said Congresswoman Marcy Kaptur (OH-09). “Nationwide, DOE is not only raising the cost of energy in Red Districts and Blue Districts — we’re ceding ground to global competitors racing ahead in innovation and energy efficiency. This decision undercuts American innovation, discourages private-sector investment, and harms workers like the ones I represent who are counting on these projects for jobs and economic revitalization. The American people deserve leadership that meets the moment — not one that backs away from the challenge of a clean, affordable energy future. If the Trump Administration was looking to give Communist China everything they wanted, they are well on their way.”
Below are a list of actions Ranking Member Kaptur has taken related to DOE’s frozen funding and award cancelations
since the start of the Trump Administration:
Jan. 31, 2025:Sent letter to DOE Acting Secretary regarding funding freeze
Kaptur, Murray Demand Answers on Trump Administration Freezing Energy Department Investments to Lower Americans’ Energy Costs
Rep. Kaptur co-led a letter with Sen. Murray.
Feb. 13, 2025:Released factsheets on funding freeze impacts
Kaptur, DeLauro Release Seven Fact Sheets Detailing How Trump’s Funding Freeze is Raising Energy Prices and Undermining Energy Dominance
Seven factsheets were released which detail how the funding freeze impacts each state for the programs listed below.
Home energy rebate program
Electric grid programs
Hydrogen hubs program
Battery manufacturing programs
Industrial demonstrations program
Weatherization assistance program
Loan program
Feb. 26, 2025:Sent follow-up letter to Jan. 31 letter on funding freeze
Kaptur, Murray Follow-Up, Demand Answers from Trump DOE as it Continues to Block Investments to Lower Americans’ Energy Costs
Rep. Kaptur again co-led a letter with Sen. Murray to Secretary Wright..
Apr. 2, 2025:Sent letter to DOE Acting Inspector General regarding award cancelations
House Energy Leaders Call for Investigation into Department of Energy’s Scheme to Cancel Awards and Contracts
Rep. Kaptur co-led a letter with Rep. DeLauro, Rep. Pallone, Rep. Castor, Rep. Lofgren and Rep. Ross calling for an investigation into the agency’s scheme to cancel competitively awarded contracts and potential for political targeting.
May 7, 2025:Pushed Secretary Wright at Department of Energy budget hearing on funding freezes and cuts at DOE
Ranking Member Kaptur Remarks at Fiscal Year 2026 US Department of Energy Budget Hearing
Transcript of Ranking Member Kaptur exchange with Secretary Wright:
RANKING MEMBER MARCY KAPTUR:
So one of the things I have to ask about is my own district. I don’t understand why there was a project that was to be awarded to a glass company. And for some reason, it was pulled or it’s sitting somewhere over there, and it has caused all kinds of problems for the company. You’re a businessman. You would understand this if I can find the right sheet here.
There’s so many sheets of paper. It’s called Libbey glass and they have two furnaces. I come from an industrial part of America and life there has been hell for a long time because we forgot what the defense industrial base of this country really is. And we’ve been trying to catch up, but it’s been hard.
And oh, here it is. OK. So the department had $6 billion in DOE investments that were leveraged with $14 billion of private sector investment. And one of those companies, Libbey Glass, which gave me permission to even use their — I’m even afraid to use their name in public. They’re a great company. They’re a legacy company in our community.
I’ll start to cry. They’re generous and they work hard. And they are to replace four regenerative furnaces with two larger hybrid electric furnaces to reduce the carbon intensity of its Toledo Ohio facility by up to 50 percent. And the department is considering canceling more than 60 percent of their industrial demonstration projects, which would be devastating to our community.
And this is a company that never left the city. They didn’t go out into the suburbs, OK, and break more ground. They’re a responsible company. And for this award review and cancellation process, how is DOE or any part of your administration assessing which DOE projects will be canceled or continued? What criteria are you using?
And even if DOE chooses not to cancel any of these awards, these actions are creating mass confusion. Unemployment is going up in our area, by the way, and companies have canceled almost $8 billion in energy manufacturing projects so far just this year, five times more than was canceled last year. So given your private sector background, what can you do to help me understand what is happening to this particular company in the review process? Where are they?
SECRETARY CHRIS WRIGHT:
Representative Kaptur, I appreciate your passion for industrial America, keeping the industries we have, bringing new industries home. We are so aligned on that. It’s one of the things I’m excited about this administration. We’ve outsourced so many of those jobs overseas. I was lucky. I grew up in suburban America and got a great education.
I’ve had a dreamy life. I could have been born somewhere else. I could have had a very different life. I share your passion.
RANKING MEMBER MARCY KAPTUR:
Thank you.
SECRETARY CHRIS WRIGHT:
I share your passion. So I think I mentioned briefly, I walk into a department that I am very passionate about energy and all that. I want to support as many activities and projects as we can, to save American industry and grow American industry. So fully aligned on that. I think I gave the numbers before, but I walked into a thing where $100 billion had been shoveled out the door in 76 days.
SECRETARY CHRIS WRIGHT:
I’m responsible for that money now, either in money out the door or committed to money to go out the door. I can’t look at American taxpayers, including taxpayers in your district and say, yes, we invested $2 billion and we built a bridge to nowhere. We built something and now it’s just closed because it had no marketplace, it had nowhere to go. So let me give you a quick little summary. So the answer is we haven’t canceled any projects because we’ve been slow and careful and deliberative. We’ve developed a process. And in the next few months, we will run hundreds of projects, including those through our thing.
And if it’s viable and it’s going to create jobs and it’s going to do these great things, we’re going to support that project. And the simple little criterion we’re looking at is legal, um, that technology, is the technology viable? Is the engineering done competently? Is there a market for the thing that’s being built?
Is there a financial model that that co-funding is coming in together with the DOE funding, so the project can be complete? And does it add to national or economic security? It sounds like that one, if all the other things work certainly would. And it is aligned with this agenda?
RANKING MEMBER MARCY KAPTUR:
Mr. Secretary, thank you for that, putting that on the record, but that was already approved. You are reviewing something that was — all the appropriated money was already there. Those decisions had been made. So that is a very — this is a very strange process because that — those dollars weren’t to be spent, um, already as we work toward the ’26 budget.
May 12, 2025: Released factsheet highlighting Secretary Wright’s Lies at Hearing
Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)
Toledo, OH – Today, Congresswoman Marcy Kaptur (OH-09) Ranking Member of the House Appropriations Subcommittee on Energy and Water Development and Senior Member on the Subcommittee on Agriculture, Rural Development, Food and Drug Administration announced the award of $2,619,292 from United States Department of Agriculture (USDA) Rural Development (RD) through the Rural Energy For America Program (Reap) Renewable And Energy Efficiency Program for projects in Defiance, Erie, Fulton, Sandusky, and Williams Counties.
“Today’s announcement of more than $2.6 Million in clean energy grant awards is a major investment in operations both big and small in our rural communities,” said Congresswoman Marcy Kaptur (OH-09). “By supporting renewable energy systems, and energy efficiency improvements, we are not only cutting costs for our small businesses, and farmers, but also creating jobs and stimulating economic growth for rural communities in Defiance, Erie, Fulton, Sandusky, and Williams Counties. These projects underscore our commitment to reinvesting in our people, while building sustainable, and resilient energy infrastructure across our region of Northwest Ohio.”
The Rural Energy For America Program (Reap) Renewable And Energy Efficiency Program grants awarded to Northwest Ohio are as follows:
$1,000,000 grant awarded to B&B Molded Products Inc. in Defiance County.
This Rural Development investment will be used to purchase and install a 699.6-kilowatt (kW) roof mounted solar array for B&B Molded Products in Defiance, Ohio. This project is expected to save $103,358 in annual energy costs and generate 1,308,194 kilowatt hours (kWh) of electricity, enough to power 130 homes. This energy efficiency upgrade will offset nearly 24 percent of the business’ annual energy consumption.
$106,887 grant awarded toRussell Zeedyk in Defiance County.
This Rural Development investment will be used to purchase and install a 90.2-kilowatt (kW) ground mounted solar array for Russell Zeedyk. This project is expected to save his operation $14,828 in annual energy costs and generate121,136 kilowatt hours (kWh) of electricity, enough to power 12 homes. This energy efficiency upgrade will offset 65 percent of the business’ annual energy consumption.
$507,131 grant awarded to Krumwiede Farms inErie County.
This Rural Development investment will be used to purchase and install an energy efficient grain dryer for John Krumwiede. The project is expected to save $32,946 in annual energy costs and save 638,985 kilowatt hours (kWh) of electricity, enough to power 59 homes. This energy efficiency upgrade will offset 51 percent of the business’ annual energy consumption.
$122,595 grant awarded to Bret Dennis in Fulton County.
This Rural Development investment will be used to purchase and install an energy efficient grain dryer for Bret Dennis in Wauseon, Ohio. This project is expected to save $15,617 in annual energy costs and save 8,152 kilowatt hours (kWh) of electricity, enough to power one home. This energy efficiency upgrade will offset 56 percent of the business’ annual energy consumption.
$156,267 grant awarded to Bernath Farms LLC. In Fulton County.
This Rural Development investment will be used to purchase and install a104.76-kilowatt (kW) ground mounted solar array at Bernath Farms in Wauseon, Ohio. This project is expected to save $21,276 in annual energy costs and generate 140,049 kilowatt hours (kWh) of electricity, enough to power 13 homes. This energy efficiency upgrade will offset nearly 78 percent of the farm’s annual energy consumption.
$500,000 grant awarded to Robert Brown in Williams County.
This Rural Development investment will be used to purchase and install an energy efficient grain dryer for Robert Brown and his family farm in Bryan, Ohio. This project is expected to save the farm $11,570 in annual energy costs and save 190,025 kilowatt hours (kWh) of electricity, enough to power 19 homes. This energy efficiency upgrade will offset 63 percent of the business annual energy consumption.
$43,821 grant awarded to Stryker Welding in Williams County.
This Rural Development investment will be used to install a 42 kilowatt (kW) roof mounted solar at Stryker Welding in Stryker, Ohio. The project is expected to save $7,761 in annual energy costs and generate 42,295 kilowatt hours (kWh) of electricity, enough to power four homes. This energy efficiency upgrade will offset 98 percent of Stryker Welding’s annual energy consumption.
$182,591 grant awarded to Warner Brothers Farms in Sandusky County.
This Rural Development investment will be used to purchase and install an energy efficient grain dryer at Warner Brothers Farms in Vickery, Ohio. This project is expected to save $10,456 in annual energy costs and save 168,647 kilowatt hours (kWh) of electricity, enough to power 16 homes. This energy efficiency upgrade will offset 50 percent of the business’ annual energy consumption.
The REAP program, established under the 2008 Farm Bill and expanded by subsequent Farm Bills and the Inflation Reduction Act (IRA), enables rural businesses and agricultural producers to access funding for renewable energy projects. These initiatives include wind, solar, geothermal, and small hydropower energy, as well as energy efficiency improvements.
RD is a mission area within the USDA which runs programs intended to improve the economy and quality of life in rural parts of the United States. USDA RD has a loan portfolio over $224.5 Billion, and administers nearly $16 Billion in program loans, loan guarantees, and grants through their programs. They promote economic development by supporting loans to businesses through banks, credit unions and community-managed lending pools. It offers technical assistance and information to help agricultural producers and cooperatives get started and improve the effectiveness of their operations. RD also provides technical assistance to help communities undertake community empowerment programs and helps rural residents buy or rent safe, affordable housing, and make health and safety repairs to their homes.
Congresswoman Kaptur continues to champion efforts that bolster Ohio’s rural economy and promote clean energy solutions. For more information on REAP and other USDA RD programs, click here.
Source: Africa Press Organisation – English (2) – Report:
Democratic Republic of the Congo (DRC) Mining Minister encourages Industry to Gather at DRC Mining Week in Lubumbashi from 11 June Organisers can be rightfully proud of building such a legacy over 20 years CAPE TOWN, South Africa, June 6, 2025/APO Group/ — The DRC Minister of Mines, H.E. Kizito Pakabomba Kapinga Mulume, says he is looking forward to visiting “the legendary DRC Mining Week,” which is taking place from 11–13 June in Lubumbashi. The organisers of this longstanding expo and conference, which is celebrating its 20th anniversary edition this month, have extended the event until 14 June for the official visit of mining Minister Mulume who will address and engage with delegates during a special ministerial session. Minister Mulume says in a statement: “I have my ticket for DRC Mining Week, and I am really truly looking forward to experiencing the legendary atmosphere of the event in Lubumbashi, combining straight-talking business discussions with networking and good times. The organisers can be rightfully proud of building such a legacy over 20 years; this is a true testament to their staying power, tenacity and passion for the industry: essential traits for being a good partner in mining. I want to invite anyone who has not yet made plans to travel to Lubumbashi to come out and join the more than 11,500 mining professionals who will be there.” H.E. Kapinga Mulume will deliver the closing remarks during the special ministerial session on 14 June. 20 years of shaping mining in the DRC From its inception, DRC Mining Week has evolved into the largest mining and infrastructure platform in the DRC and the Copperbelt, bringing together over 11,500 attendees from 50+ countries. Under the theme “20 Years of Shaping Mining in the DRC: Investing in Infrastructure Development and Energy Security – Vision 2025–2030,” this landmark edition will highlight the progress made and the opportunities that lie ahead. With mining at the heart of the country’s industrialisation, the focus will be on investment, infrastructure development and energy security to drive long-term growth. Longstanding support “We are always delighted to welcome government luminaries to Lubumbashi; therefore we have added a VIP bonus day to our event on 14 June, in order to ensure that high-level government representatives are able to engage with industry leaders,“ says event organiser Samukelo Madlabane, Events Director – Mining for the VUKA Group. “Particularly in the light of DRC Mining Week’s 20th anniversary, which would not have been possible without the government’s invaluable, longstanding support for this event, which has been fostering collaboration and development within the mining sector for over two decades now.” Valuable exposure More than 11,500+ local and international mining professionals are expected at DRC Mining Week this week, promising valuable exposure and potential contacts for participating partners. The event provides a broad spectrum of thought-provoking content and opportunities to meet existing and prospective partners and clients in the mining and extractive sectors, including:
Investment Forum;
High-level conference sessions, with topics that include: the Mining Roadmap 2025–2030; expert think-tank; market dynamics and price volatility; and positioning DRC as a leading mining country.
Countless meeting and networking occasions for 1300+ elite decision-makers, including mining executives and government officials;
An expansive expo with 280+ sponsors and exhibitors showcasing the latest and trusted technologies and services for the industry, including country pavilions;
US Government Business Forum (invitation only);
European Union Business Forum (invitation only);
The Ambassador’s Forum and networking business lunch (invitation only)
Executive Business Forum (strictly by invitation);
CEO Roundtable (Strictly by invitation);
Value Chain Investment Forum;
Regional Development Forum;
Women Mine & Leadership Forum—always a hot ticket and an event highlight;
Glittering gala dinner (strictly for ticket holders);
Kamoa Site Visit (sold out).
The packed programme brochure for the 2025 edition of DRC Mining Week is available on the event website. Click here (https://apo-opa.co/3SEBgOz). Industry support As has become customary for DRC Mining Week, this year too the event boasts broad industry backing and institutional support, including the official partners, the DRC Ministry of Mining and FEC (Federation of Enterprises of Congo). Its main sponsors include Standard Bank as lead sponsors. The diamond plus sponsors are Ecobank, Equity BCDC, Kamoa Copper S.A., Glencore, Kamoto Copper Company S.A. and MUMI. Other mining houses that will be in attendance this year include Barrick, CMOC, ERG Africa, Gecamines, Ivanhoe Mines and MMG. DRC Mining Week dates and venue:
Expo and conference: 11–13 June 2025
Farewell lunch on the 14th of June (Strictly by invitation);
Location: The Pullman Grand Karavia Hotel, Lubumbashi, DRC
Distributed by APO Group on behalf of Vuka Group. Social Media: Twitter: https://apo-opa.co/3SEBtBl Facebook: DRC Mining Week (https://apo-opa.co/4kMdcp4) LinkedIN: https://apo-opa.co/3FMgoSF About DRC Mining Week: DRC Mining Week is organised by The VUKA Group (formerly Clarion Events Africa) (https://apo-opa.co/43QupH4), a leading Cape Town-based and multi-award-winning organiser of exhibitions, conferences and digital events across the continent in the infrastructure, energy, mining, mobility, ecommerce and CX sectors. Other well-known events by The Vuka Group include DRC-Africa Battery Metals Forum (https://apo-opa.co/43Pw8w8), Nigeria Mining Week (https://apo-opa.co/445y3y0), Enlit Africa (https://apo-opa.co/3FMgCJv), Africa’s Green Economy Summit (https://apo-opa.co/445yhoQ), Smarter Mobility Africa (https://apo-opa.co/3Zmimjf), ECOM Africa (https://apo-opa.co/4dOzzrw) and CEM Africa (https://apo-opa.co/45hC3wB). Mining Review Africa (https://apo-opa.co/43QipW7), the leading monthly magazine and digital platform in the African mining industry, is the event’s premium media partner. Website: http://www.DRCMiningWeek.com
Source: United States House of Representatives – Congressman August Pfluger (TX-11)
Read his remarks as delivered below:
H.R. 1949, Unlocking Our Domestic LNG Potential Act, is commonsense. And when you look at section three of the Natural Gas Act, it requires that natural gas exports to countries that have a free trade agreement with the United States be approved without delay. For countries that do not have a free trade agreement with the U.S., the energy secretary is required to approve export requests unless they find that such exports will not be consistent with the public interest.
Therefore, the Natural Gas Act includes a rebuttable presumption in favor of authorizing U.S. LNG exports in early 2024, after succumbing to political pressure from environmental activists. The previous administration announced a ban on issuing export permits to non-FTA countries while it reviewed the climate impacts of U.S. LNG.
During this ban, America’s energy dominance took a major hit. Russia overtook the U.S. as the leading gas supplier to Europe. Long-term American contracts were not only jeopardized, but they were actually damaged – some of them irreparably – and globally, buyers were forced to look toward less clean sources. Thankfully, the Trump administration quickly reversed this ban, and just last week, the DOE issued its first LNG export approval.
My legislation is simple. The Unlocking Our Domestic LNG Potential Act would ensure that a ban is never placed on U.S. LNG exports again. By removing DOE from the process, export restrictions would be repealed, and LNG exports would have equal treatment with other commodities. LNG exports unequivocally benefit our economy, domestic prices, our security, and partners and allies around the world that want our product.
Congress needs to act to remove the politics from these exports, just as this committee did when it lifted the crude oil export ban in 2015. The IEA expects global gas demand to reach record highs in the coming years, underscoring the need for new LNG supply. It must be the United States, not Iran, not Russia, not any other adversary, who meets this demand and supplies affordable, clean, and abundant LNG to the world.
I urge my colleagues to support this very commonsense legislation and to vote in favor of H.R. 1949. I yield back.
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
Moscow, June 6 /Xinhua/ — Rosatom CEO Alexey Likhachev has asked International Atomic Energy Agency (IAEA) head Rafael Grossi to mediate on the issue of using American fuel at the Zaporizhzhya NPP. He told reporters following talks with the IAEA chief in Kaliningrad.
“An important point – we have spoken about it many times – is the issue of American fuel, fuel from Westinghouse… At today’s consultations, we discussed this topic with the IAEA leadership, and I asked Mr. Grossi to become a mediator in resolving this problem in cooperation with the American side – both in the person of the company and in the person of government bodies, in the person of nuclear supervision. We are grateful to the IAEA Director General for the positive steps in response. I very much hope that we will find this solution in cooperation directly with the fuel manufacturer and determine its future fate,” TASS quotes the head of Rosatom as saying.
R. Grossi announced that the IAEA will take part in the World Atomic Week in Moscow, which will take place in September 2025.
“The good news for the global nuclear industry is that a major event will be held in the second half of this year in September in Russia, in Moscow, and the IAEA is going to participate in this event. This is a major event for the development of the nuclear industry in the world,” said R. Grossi. –0–
Source: United States House of Representatives – Congresswoman Lori Trahan (D-MA-03)
WASHINGTON, DC – Yesterday, during a House Oversight and Government Reform Committee hearing, Congresswoman Lori Trahan (MA-03) railed against the Trump administration’s plan to turn over Americans’ most personal information that was harvested by Department of Government Efficiency (DOGE) staffers to Palantir so the company can build dossiers on every American. “Under the Trump Administration, DOGE aggressively collected sensitive data across agencies, breaking down firewalls that are supposed to protect us. Then came the Executive Order directing agencies to ‘eliminate information silos’ – basically, to share and pool that data,” Congresswoman Trahan said. “And just last week, we learned that Palantir, a Silicon Valley company known for building surveillance tools, is being hired to build AI-powered profiles on every American using the data DOGE collected. It’s hard to overstate how dangerous this is.” CLICK HERE or the image below to watch Trahan’s remarks. A transcript is embedded below.
Last week, the New York Times reported that the Trump administration has drastically increased federal contracting with Palantir, a Silicon Valley tech firm started by Peter Thiel who has donated heavily to Republican campaigns. Palantir has historically worked closely with the Pentagon and the intelligence community to provide big data analytics and AI products, and in recent years has expanded its customer base to include private companies, civilian agencies, and state and local governments. According to the Times report, the company is now being directed to use its AI systems to merge the personal data of Americans collected by different federal agencies into one database, essentially creating a profile on every person in the country. During the hearing today, Trahan pointed out how this type of system could be weaponized by the government against Americans. “Let me just give you an example – a hypothetical, of course, but not a far-fetched one. Sarah is a regular American. She pays her taxes, owns a gun legally, and is raising her daughter Emma on her own. She and Emma rely on Medicaid to get the care they need,” Congresswoman Trahan continued. “One day, Sarah shares a post on Facebook. She’s concerned about something the President said about firearms, and she posts so. But in Washington, an AI-powered monitoring system flags her post. A political appointee digs into her personal data and sends emails to agency heads urging them to take action against her.” “Within days, Sarah’s life falls apart,” Congresswoman Trahan said. “The IRS audits her and claims she owes thousands. Emma’s doctor says her Medicaid isn’t active anymore, and now Sarah has to pay out of pocket. Now, to be clear, this story is made up. But it’s not science fiction. It’s an alarm. It’s a warning.” In March, Trahan announced an effort to rewrite the Privacy Act of 1974, a 50-year-old law designed to protect Americans’ privacy that has not been meaningfully updated since its passage in the wake of the Watergate scandal. Dozens of organizations and individuals have responded to Trahan’s request for information about how to strengthen privacy protections while preserving the ability to modernize and improve the efficiency of government services. “I’ve spent the past three months talking with civil liberties groups, privacy experts, and people across the country – and the one thing is clear: We need stronger privacy laws,” Congresswoman Trahan concluded. “I believe we can protect people’s data and modernize government to prevent fraud, waste, and abuse. These goals are not at odds – they’re linked.” —————————————– Congresswoman Lori Trahan Remarks As Delivered House Oversight and Government Reform Hearing: The Federal Government in the Age of Artificial Intelligence June 5, 2025
Trahan: Thank you, Mr. Chairman. I appreciate you allowing me to be a part of this important conversation. Over on the Energy and Commerce Committee, which is where I usually serve, we have a lot of conversations about technology, and one thing is always clear: data is at the heart of AI. That’s why I believe that any serious discussion about AI has to start with a conversation about privacy. And that’s what I’m here to do today – to sound the alarm about a deeply troubling trend: our own government’s growing appetite for Americans’ personal data. Let me just give you an example – a hypothetical, of course, but not a far-fetched one. Sarah is a regular American. She pays her taxes, owns a gun legally, and is raising her daughter Emma on her own. She and Emma rely on Medicaid to get the care they need. One day, Sarah shares a post on Facebook. She’s concerned about something the President said about firearms, and she posts so. But in Washington, an AI-powered monitoring system flags her post. A political appointee digs into her personal data and sends emails to agency heads urging them to take action against her. Within days, Sarah’s life falls apart. The IRS audits her and claims she owes thousands. Emma’s doctor says her Medicaid isn’t active anymore, and now Sarah has to pay out of pocket. Now, to be clear, this story is made up. But it’s not science fiction. It’s an alarm. It’s a warning. Mr. Schneier, you talked in your testimony about coercion as an “adversarial use” of data. What kinds of coercion could bad actors inside the government use if they had detailed profiles on every American?
Mr. Schneier: I would think of it as selective investigation. The government has enormous powers to investigate people, and the question is who they choose to investigate. There’s a famous book from many years ago called “Three Felonies a Day” – that we in our normal lives commit three felonies a day because there are just so many rules and we don’t know them. So given things like that, who you choose to enforce the law on matters. So this data can be used to select people whom to investigate, people whom to charge. And this could be used selectively by any regime – even not the U.S. – any country that wants to do this. Trahan: Unfortunately, this isn’t a hypothetical trend – it’s already happening. Under the Trump Administration, DOGE aggressively collected sensitive data across agencies, breaking down firewalls that are supposed to protect us. Then came the Executive Order directing agencies to “eliminate information silos” – basically, to share and pool that data. And just last week, we learned that Palantir, a Silicon Valley company known for building surveillance tools, is being hired to build AI-powered profiles on every American using the data DOGE collected. It’s hard to overstate how dangerous this is. Mr. Schneier, are you worried that once this data is centralized, future administrations – no matter their party – could weaponize it? I mean, are we on the verge of opening Pandora’s box? Mr. Schneier: I don’t know if Pandora’s Box has been open years ago, but certainly giving this power to a government is something that feels very un-American. There are reasons why this data was siloed. There are reasons why we didn’t have these powers. I mean you can imagine humans doing this well before AI, but we chose not to. So AI can certainly make this more efficient, but yes this is power in the hands of a human who wants to wield it for ill can do that very efficiently. Trahan: We need a national reckoning on privacy. That means strong oversight of this Administration and its tech partners, and real legislation to protect Americans’ rights. You know, I’ve spent the past three months talking with civil liberties groups, privacy experts, and people across the country – and the one thing is clear: We need stronger privacy laws. I believe we can protect people’s data and modernize government to prevent fraud, waste, and abuse. These goals are not at odds – they’re linked. So if you’re listening and you’re concerned about what’s happening – about Big Tech, about government overreach, about your family’s privacy – call my office. Let’s have a national conversation. Let’s protect the freedom our founders fought for and the privacy we all deserve. And one last thing I just wanted to mention because over the course of this hearing, the Chair has suggested that no one on the other side of the aisle called attention to the harms of the Republicans’ ten-year ban on state AI regulations. That’s patently false. We had robust debate on the Energy and Commerce Committee with several Democratic members, myself included, calling attention to this provision during and after our 26-hour markup. In fact, Democrats offered an amendment to strike the language entirely. So Mr. Chair, I ask unanimous consent to enter into the record the results of the recorded vote. Chairman: Without objection. Trahan: Thank you. I yield back. ###
We forecast crude oil production in the Federal Offshore Gulf of America (GOA) will average 1.80 million barrels per day (b/d) in 2025 and 1.81 million b/d in 2026, compared with 1.77 million b/d in 2024, in our most recent Short-Term Energy Outlook (STEO). We expect GOA natural gas production to average 1.72 billion cubic feet per day (Bcf/d) in 2025 and 1.64 Bcf/d in 2026, compared with 1.79 Bcf/d in 2024. At these volumes, the GOA is forecast to contribute about 13% of U.S. crude oil production and 1% of U.S. marketed natural gas production in 2025 and 2026.
We expect operators to start crude oil and natural gas production at 13 fields in the GOA during 2025 and 2026, without which GOA production would decline. Eight fields will be developed using subsea tiebacks or underwater extensions to existing Floating Production Units (FPUs) at the surface. Five fields will produce from four new FPUs, with one of the new FPUs (Salamanca FPU) targeting production from two fields.
We expect the additional crude oil production from all new fields will contribute 85,000 b/d in 2025 and 308,000 b/d in 2026. We expect associated natural gas production from the new fields will average 0.09 Bcf/d in 2025 and 0.27 Bcf/d in 2026.
Three fields began producing earlier this year:
Whale Whale, one of the largest fields expected to come online in 2025 and 2026, started producing in January 2025 from a new FPU of the same name. The Whale FPU, located in more than 8,600 feet of water, is expected to produce around 85,000 b/d of crude oil at its peak.
Ballymore The Ballymore field started production in April 2025 as a subsea tieback to the existing Blind Faith facility, and it is expected to produce 75,000 b/d from the Ballymore wells in the emerging Upper Jurassic/Norphlet play.
Dover The Dover field also started production in April as a subsea tieback to the existing Appomattox facility with expected peak production of around 15,000 b/d.
Production coming online in the second half of 2025:
Shenandoah The Shenandoah field, which will produce from an FPU of the same name, is scheduled to start production in June 2025 with an initial capacity of 120,000 b/d, which will be expanded to 140,000 b/d in early 2026. The Shenandoah Phase 1 development will use new technologies to produce from a deepwater high-pressure field.
Leon and Castile Another new FPU we expect to come online in the second half of 2025, Salamanca, will process oil and natural gas from the Leon and Castile discoveries. The Salamanca project involved refurbishing a previously decommissioned production facility and has a capacity of 60,000 b/d of oil and 40 million cubic feet per day of natural gas.
We expect other subsea tiebacks to existing facilities to enter production in late 2025: Katmai West, Sunspear, Argos Southwest Extension, and Zephyrus Phase 1.
Production coming online in 2026:
Three new subsea tiebacks are expected to begin production in 2026: Silvertip Phase 3, Longclaw, and Monument, a subsea tieback to the Shenandoah FPU.
Hurricanes in the Gulf of America could disrupt the production and development timeline of these new fields. Colorado State University anticipates that the 2025 Atlantic Basin hurricane season will have above-normal activity with 17 named storms.
overnor Kathy Hochul today issued a letter to Senate Majority Leader John Thune outlining the potentially disastrous impact that the House’s proposed budget would have on New Yorkers. If enacted, the bill would gut New York’s healthcare system, strip families of crucial nutrition benefits, trigger billions in economic losses through the removal of clean energy tax credits and continue to unfairly tax hard-working New Yorkers by failing to fully repeal the SALT cap.
The House bill slashes $13.5 billion in funding for our healthcare economy through cuts to Medicaid and the Affordable Care Act marketplace, putting nearly 1.5 million New Yorkers at risk of losing their health insurance. Safety net hospitals in rural and low-income areas could be forced to shutter their doors permanently and doctors and health care providers would face financial jeopardy. The bill also significantly shrinks federal support for SNAP nutrition and food benefits, making it more difficult for the nearly three million New Yorkers who rely on SNAP to put food on the table for their families.
In addition, the House bill would put the safety and reliability of our power grid at risk by repealing tax credits that support major renewable and energy storage projects with an estimated loss of $25 billion in clean energy investments. The bill would also curtail efforts to reduce housing energy costs and improve resilience by eliminating the Green and Resilient Retrofit Program, an important resource to retrofit affordable housing stock. Other proposed measures include gutting student loan programs, levying outrageous taxes on nonprofits and universities, eliminating the popular direct-file program to simplify the tax process, and prohibiting state AI regulation.
The proposed budget would inflict all of these harms while still failing to deliver on a key promise made by New York Republicans in Congress to their constituents: a full repeal of the SALT cap. Congressional Republicans’ decision to impose a new, permanent SALT cap upholds a double-tax on New York taxpayers and unfairly burdens middle-class households.
The full text of the letter is below:
Dear Majority Leader Thune and Minority Leader Schumer:
As Governor of New York, I am writing to you ahead of the Senate’s consideration of the House reconciliation legislative package to underscore the detrimental impact this bill would have on my state. If enacted, the proposed bill would gut New York’s healthcare system, strip families of crucial nutrition benefits, trigger billions in economic losses through the removal of clean energy tax credits, stagnate growth in education and critical technology sectors, and continue to unfairly tax hard-working New Yorkers by failing to fully repeal the SALT cap. Passage of this legislation would worsen the affordability crisis and inject further instability into an already fragile economy.
Restricting Access to Healthcare: The House bill slashes $13.5 billion in funding for our healthcare economy through cuts to Medicaid and the Affordable Care Act (ACA) marketplace. Make no mistake: if the Senate passes this legislation and it is signed into law, nearly 1.5 million people in New York will lose their health insurance. Over $3 billion will be lost to our hospitals, with safety net hospitals in rural and low-income areas at significant risk of shuttering their doors permanently. These closures will harm all New Yorkers, regardless of their insurance coverage.
Reducing Food Security: The bill also significantly shrinks federal support for SNAP nutrition and food benefits, making it more difficult for the nearly three million New Yorkers who rely on SNAP to put food on the table for their families. The bill places significant administrative burdens on our state and counties and will create headaches for eligible families in receiving their benefits. States have always played a key role in SNAP; this bill decimates the longstanding federal-state partnership by penalizing states with recurring annual costs. We expect the House-passed bill to cost New York State alone over $2.1 billion annually.
Undermining Energy Modernization and Resilience: The House reconciliation package would put the safety and reliability of our power grid at risk by repealing tax credits that support major renewable and energy storage projects. The financial impact to New York from the loss of the investment tax credit alone would be $25 billion to the state’s current portfolio of large-scale clean energy investments and would further make new projects more expensive for businesses and threaten good-paying union jobs. Added fees on electric vehicles, canceled IRA transportation funding, and the rollback of EV and home energy credits would also drive-up costs statewide. The bill would also curtail efforts to reduce housing energy costs and improve resilience by eliminating the Green and Resilient Retrofit Program (GRRP), an important resource to retrofit our nation’s affordable housing stock.
Education Undermined, Disparities Widened: The House bill threatens to dismantle essential supports for low-income and nontraditional students by imposing restrictive eligibility changes for working, part-time learners; establishing harsh institutional penalties; and eliminating key federal loan programs. In New York, where nearly half of community college students attend part-time and rely heavily on Pell Grants, these changes could force thousands to drop out or incur deeper debt. Additionally, the bill eliminates some subsidized student loans and forces loan risk onto education institutions. Taken together, these provisions represent a regressive shift that threatens to widen educational disparities, destabilize community colleges and minority-serving institutions and undermine national efforts to promote affordable higher education.
Artificial Intelligence (AI) Moratorium: The House legislation also includes a highly-problematic and broad prohibition on state AI regulation for a decade. States like New York have passed laws to both invest in the incredible potential of AI and thoughtfully address potential AI harms in the face of federal inaction. Under my leadership, New York has enacted several first-in-the-nation AI safety measures, including the Safe for Kids Act to curb the addictive nature of social media for kids, and safeguards for AI Companion chatbots to reduce harmful interactions. If this federal prohibition remains in reconciliation, the impact is not merely a bureaucratic moratorium; it undermines the states’ fundamental right and responsibility to protect the safety, health, privacy, and economic vitality of its citizens.
Unfair Tax Burdens: Not only does this bill guarantee higher costs, it also fails to deliver on a key promise made by New Yorkers in your caucus to their constituents: a full repeal of the SALT cap. House Republicans’ decision to impose a new, permanent SALT cap upholds a double-tax on New York taxpayers and unfairly burdens households. The bill also levies outrageous taxes on nonprofits including universities, and eliminates the popular direct-file program that simplifies the tax filing process – all in an effort to cut taxes for the richest Americans.
These are just some of the more egregious harms this bill would inflict on my constituents. If New York Republicans in the House refuse to advocate for the best interests of their state, I will. As Governor, I must stand up for middle-class New Yorkers who cannot afford the consequences of this budget. I urge you to reject the House proposal and instead work with Leader Schumer on a bipartisan reconciliation package that delivers for working families, invests in the future, and reflects the real needs of the people we serve.
President Donald Trump’s idea of a “Golden Dome” missile defense system carries a range of potential strategic dangers for the United States.
Golden Dome is meant to protect the U.S. from ballistic, cruise and hypersonic missiles, and missiles launched from space. Trump has called for the missile defense to be fully operational before the end of his term in three years.
Trump’s goals for Golden Dome are likely beyond reach. A wide range of studies makes clear that even defenses far more limited than what Trump envisions would be far more expensive and less effective than Trump expects, especially against enemy missiles equipped with modern countermeasures. Countermeasures include multiple warheads per missile, decoy warheads and warheads that can maneuver or are difficult to track, among others.
Regardless of Golden Dome’s feasibility, there is a long history of scholarship about strategic missile defenses, and the weight of evidence points to the defenses making their host country less safe from nuclear attack.
I’m a national security and foreign policy professor at Harvard University, where I lead “Managing the Atom,” the university’s main research group on nuclear weapons and nuclear energy policies. For decades, I’ve been participating in dialogues with Russian and Chinese nuclear experts – and their fears about U.S. missile defenses have been a consistent theme throughout.
Russian President Vladmir Putin and Chinese leader Xi Jinping have already warned that Golden Dome is destabilizing. Along with U.S. offensive capabilities, Golden Dome poses a threat of “directly undermining global strategic stability, spurring an arms race and increasing conflict potential both among nuclear-weapon states and in the international arena as a whole,” a joint statement from China and Russia said. While that is a propaganda statement, it reflects real concerns broadly held in both countries.
Golden Dome explained.
History lessons
Experience going back half a century makes clear that if the administration pursues Golden Dome, it is likely to provoke even larger arms buildups, derail already-dim prospects for any negotiated nuclear arms restraint, and perhaps even increase the chances of nuclear war.
My first book, 35 years ago, made the case that it would be in the U.S. national security interest to remain within the 1972 Anti-Ballistic Missile Treaty, which strictly limited U.S. and Soviet – and later Russian – missile defenses. The United States and the Soviet Union negotiated the ABM Treaty as part of SALT I, the first agreements limiting the nuclear arms race. It was approved in the Senate 98-2.
The ABM Treaty experience is instructive for the implications of Golden Dome today.
Why did the two countries agree to limit defenses? First and foremost, because they understood that unless each side’s defenses were limited, they would not be able to stop an offensive nuclear arms race. If each side wants to maintain the ability to retaliate if the other attacks – “don’t nuke me, or I’ll nuke you” – then an obvious answer to one side building up more defenses is for the other to build up more nuclear warheads.
For example, in the 1960s and 1970s, the Soviets installed 100 interceptors to defend Moscow – so the United States targeted still more warheads on Moscow to overwhelm the defense. Had it ever come to a nuclear war, Moscow would have been even more thoroughly obliterated than if there had been no defense at all. Both sides came to realize that unlimited missile defenses would just mean more offense on both sides, leaving both less secure than before.
In addition, nations viewed an adversary’s shield as going hand in hand with a nuclear sword. A nuclear first strike might destroy a major part of a country’s nuclear forces. Missile defenses would inevitably be more effective against the reduced, disorganized retaliation that they knew would be coming than they would be against a massive, well-planned surprise attack. That potential advantage to whoever struck first could make nuclear crises even more dangerous.
Post-ABM Treaty world
Unfortunately, President George W. Bush pulled the United States out of the ABM Treaty in 2002, seeking to free U.S. development of defenses against potential missile attacks from small states such as North Korea. But even now, decades later, the U.S. has fewer missile interceptors deployed (44) than the treaty permitted (100).
The U.S. pullout did not lead to an immediate arms buildup or the end of nuclear arms control. But Putin has complained bitterly about U.S. missile defenses and the U.S. refusal to accept any limitation at all on them. He views the U.S. stance as an effort to achieve military superiority by negating Russia’s nuclear deterrent.
Russia is investing heavily in new types of strategic nuclear weapons intended to avoid U.S. missile defenses, from an intercontinental nuclear torpedo to a missile that can go around the world and attack from the south, while U.S. defenses are mainly pointed north toward Russia.
Similarly, much of China’s nuclear buildup appears to be driven by wanting a reliable nuclear deterrent in the face of the United States’ capability to strike its nuclear forces and use missile defenses to mop up the remainder. Indeed, China was so angered by South Korea’s deployment of U.S.-provided regional defenses – which they saw as aiding the U.S. ability to intercept their missiles – that they imposed stiff sanctions on South Korea.
Fuel to the fire
Now, Trump wants to go much further, with a defense “forever ending the missile threat to the American homeland,” with a success rate “very close to 100%.” I believe that this effort is highly likely to lead to still larger nuclear buildups in Russia and China. The Putin-Xi joint statement pledges to “counter” defenses “aimed at achieving military superiority.”
Given the ease of developing countermeasures that are extraordinarily difficult for defenses to overcome, odds are the resulting offense-defense competition will leave the United States worse off than before – and a good bit poorer.
Putin and Xi made clear that they are particularly concerned about the thousands of space-based interceptors Trump envisions. These interceptors are designed to hit missiles while their rockets are still burning during launch.
Most countries are likely to oppose the idea of deploying huge numbers of weapons in space – and these interceptors would be both expensive and vulnerable. China and Russia could focus on further developing anti-satellite weapons to blow a hole in the defense, increasing the risk of space war.
Already, there is a real danger that the whole effort of negotiated limits to temper nuclear arms racing may be coming to an end. The last remaining treaty limiting U.S. and Russian nuclear forces, the New START Treaty, expires in February 2026. China’s rapid nuclear buildup is making many defense officials and experts in Washington call for a U.S. buildup in response.
Intense hostility all around means that for now, neither Russia nor China is even willing to sit down to discuss nuclear restraints, in treaty form or otherwise.
A way forward
In my view, adding Golden Dome to this combustible mix would likely end any prospect of avoiding a future of unrestrained and unpredictable nuclear arms competition. But paths away from these dangers are available.
It would be quite plausible to design defenses that would provide some protection against attacks from a handful of missiles from North Korea or others that would not seriously threaten Russian or Chinese deterrent forces – and design restraints that would allow all parties to plan their offensive forces knowing what missile defenses they would be facing in the years to come.
I believe that Trump should temper his Golden Dome ambitions to achieve his other dream – of negotiating a deal to reduce nuclear dangers.
Matthew Bunn is a member of the National Academies Committee on International Security and Arms Control and a board member of the Arms Control Association. He is a member of the Academic Alliance of the United States Strategic Command and a consultant to Oak Ridge National Laboratory.
06 JUNE 2025 – Energy Perspectives 2025 presents four scenarios for the future world economy, international energy markets and energy-related greenhouse gas emissions.
Long-term forecasts of the development in global energy markets are normally very difficult. As this year’s Energy Perspectives report is published, the task is even more complex, as global markets and geopolitics are undergoing massive shifts with unpredictable consequences in both the shorter and longer term. Political priorities affecting global energy markets are shifting further away from decarbonisation towards energy affordability and security of energy supply. On top of this, it is nearly impossible to gauge the short-term impact of trade conflicts and new rules in the geopolitics game.
“The geopolitical landscape and trade conflicts clearly illustrate that the global cooperation needed for a Paris-aligned energy transition is not present”, says SVP and Chief economist Eirik Wærness.
A global energy transition roughly in line with the ambitions of the Paris Agreement has become severely delayed and more fragmented, and global greenhouse emissions continued to increase last year. Despite numerous positive developments, the macroeconomic, political and geopolitical realities are characterised by lack of trust, cooperation and burden-sharing, that are slowing down the pace of change foreseen in the Paris Agreement. A reversal of this development will take time, and its success is by no means guaranteed. With short-termism and local and regional priorities dominating policy making, the necessary global changes in the direction of truly sustainable development, balancing the different concerns in the energy trilemma, will be further delayed.
Energy Perspectives 2025 presents four scenarios for the future world economy, international energy markets and energy-related greenhouse gas emissions. The scenarios are built to show how divergent drivers in the energy trilemma (energy security, affordability and decarbonisation) affect long-term developments. The scenarios are not predictions, but possible contrasting pathways, providing a platform for debate, strategic planning and decision making.
“The insights and analysis provided by Energy Perspectives help us navigate short-term uncertainties without losing sight of long-term tr
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Document
Resolution of May 31, 2025 No. 829
Commercial and government organizations may enter into agreements with regulatory authorities on the proper elimination of identified violations. From the moment the agreement is concluded, the order to eliminate the identified violation is suspended. The corresponding resolution was signed by the Government. This instrument is aimed at reducing the administrative burden on business as part of improving control and supervisory activities under the leadership of Deputy Prime Minister – Head of the Government Staff Dmitry Grigorenko.
The organizations that may apply for the conclusion of an agreement include government agencies, local government bodies, state and municipal institutions, as well as city-forming and strategic enterprises, defense industry organizations, enterprises in the housing and utilities sector, energy, communications, transport, agriculture, and pharmaceutical production.
Applications from organizations will be considered only for those types of supervision where the controlled entities are primarily organizations of strategic or high socio-economic importance. The effect of the resolution extends to eight types of control:
— federal state supervision in the field of industrial safety,
— Federal State Energy Supervision,
— federal state supervision in the field of safety of hydraulic structures,
— Federal State Mining Supervision,
— federal state environmental control (supervision),
— federal state geological control (supervision),
— federal state land control (supervision);
— federal state licensing control of activities related to the production of medicines.
“The mechanism of agreements will prevent situations when administrative liability for a detected violation may lead to a halt in production, staff reductions, or a reduction in the output of socially significant products. Control authorities must accommodate organizations and build partnerships with them. Especially if eliminating violations requires significant financial and time costs, or the allocation of additional budget funds,” commented Deputy Prime Minister and Head of the Government Staff Dmitry Grigorenko.
To conclude an agreement, organizations develop a draft program for eliminating the identified violations and provide documents confirming that significant time, material costs and capital investments are needed to eliminate the violations. This must be done within 10 working days from the date of receipt of the order.
The signed agreement is being coordinated with the prosecutor’s office.
If an agreement is concluded and comes into force, the order regarding the identified violations of mandatory requirements is suspended; after their elimination, the controlled person is not subject to administrative liability.
Applications can be submitted for violations identified since June 1, 2025. Applications will be denied for those that pose a direct threat to human life and health. For example, if we are talking about corrosion or partial destruction of power line supports, which can lead to collapse, line breakage and, as a result, mass power outages.
This resolution was developed by the Ministry of Economic Development of Russia and adopted in pursuance of the amendments to the Federal Law “On State Control (Supervision) and Municipal Control in the Russian Federation” that came into force in 2025.
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.
TALLINN, Estonia, June 06, 2025 (GLOBE NEWSWIRE) — In the early days of crypto, mining was reserved for the technically elite. Specialized rigs, high electricity bills, and complex setups created a wall between everyday people and the wealth being generated behind blockchain technology. Fast forward to 2025, and Bitcoin Solaris is tearing down that wall, placing the power of crypto mining directly into the palm of your hand.
This isn’t just another blockchain project promising change. Bitcoin Solaris (BTC-S) is delivering it through innovation, accessibility, and mobile-first scalability. BTC-S is powered by a dual-layered, dual-consensus system—combining Proof-of-Work (PoW) with Delegated Proof-of-Stake (DPoS) to ensure both security and efficiency. This architecture allows BTC-S to achieve lightning-fast 10,000+ transactions per second while keeping its network highly decentralized and secure.
But the real revolution is in how it’s mined—and who can mine it.
Your Phone Is Now a Mining Rig
At the core of this disruption is the upcoming Solaris Nova App—an intuitive, cross-platform mining tool that lets anyone start earning from their smartphone, desktop, or even a browser. Mining has never been this simple:
Cross-device compatibility: Supports ASICs, GPUs, laptops, and smartphones.
One-click setup: No coding, no wallet configuration—just tap and go.
Real-time wallet rewards: Earnings are visible immediately.
Adaptive algorithms: Optimizes based on device specs for peak performance.
Energy efficiency: Consumes 99.95% less energy than traditional mining.
Even more impressive? Bitcoin Solaris has baked in end-to-end encryption, biometric logins, remote wipe capabilities, and gamified features like achievements and leaderboards, making it secure, fun, and inclusive.
Build Wealth, Stake, and Grow with Liquid Staking
Bitcoin Solaris doesn’t stop at mining. It also enables liquid staking, allowing users to earn passive income without locking up their assets. When users stake BTC-S, it’s instantly converted into sBTC-S at a 1:1 ratio.
That means you can:
Trade your staked tokens freely.
Use them in DeFi protocols like lending or liquidity pools.
Participate in governance without losing yield.
Best of all, liquid staking is fully integrated into the Solaris Nova App. Validator selection is automated, the UI is beginner-friendly, and the security framework ensures peace of mind.
BTC-S’s model improves both decentralization and capital efficiency, letting your assets work for you from day one.
With mobile mining and staking at the center of its offering, it’s no surprise that over 11,000 users have joined the presale so far. And with just around 8 weeks left in the sale, interest is only accelerating.
Current Price: $6
Next Phase: $7
Launch Price: $20
Bonus: 10%
It’s not just retail investors taking notice. Crypto Royal recently published a detailed review of Bitcoin Solaris, praising the project’s smart tech and accessibility. As more influencers weigh in, the momentum continues to build.
Security Backed by Real Audits and Transparency
What sets Bitcoin Solaris apart from many crypto projects is its commitment to trust and transparency. It’s passed not one, but two major audits—by Cyberscope and Freshcoins. Plus, the team has completed full KYC verification, further proving it’s here to stay.
And as excitement continues to spread, you can track updates, join discussions, and be part of the movement on the project’s Telegram and X channels.
Conclusion: Crypto Wealth Isn’t Reserved for the Elite Anymore
Bitcoin Solaris is more than a token—it’s a technology shift. It brings together power, speed, and inclusivity in a way the industry has never seen before. Through the exciting release of the Solaris Nova App, anyone—from students to working professionals—can mine, stake, and grow their wealth without needing expensive rigs or deep technical knowledge.
If you ever felt like you were late to Bitcoin, this is your second chance—but built for the mobile era. And this time, all it takes is the phone in your pocket.
Disclaimer:This is a paid post and is provided byBitcoin Solaris. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented.We do not guarantee any claims, statements, or promises made in this article.This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital.It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.
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This report is provided by Earth Negotiations Bulletin/International Institute for Sustainable Development. View the original reporthere.
Finance is critical to implementation of the Sendai Framework on Disaster Risk Reduction (DRR), but investments have not kept pace with rising demands, and aid budgets are shrinking worldwide. In many sessions through the day, delegates focused attention on financing a wide range of needs, including school safety, measures to deal with extreme heat, and nature-based solutions (NbS).
High-level dialogue
What will it take to scale DRR financing solutions at the national and local level?
Journalist Mayowa Adegoke moderated the session.
Stine Renate Håheim, State Secretary to Minister of International Development, Norway, emphasized DRR financing as a high priority, saying, “it is better to prevent than repair afterwards.” She noted that one in three people globally-most in cities or highly vulnerable areas-are not covered by Early Warning Systems (EWS).
Hans Sy, CEO, SM Prime Holdings, explained his company’s investment in resilient building construction, such as building on concrete pillars to allow free flow of floodwaters. He stressed that risk-informed decisions based on science and technology “makes good business sense.”
Fatima Yasmin, Asian Development Bank (ADB), said the Bank regards DRR as a critical priority investment, particularly through supporting policy making, planning, advising on innovative investments, and incentivizing preparedness. On scaling DRR investments, she said financing should be fast, flexible and forward-looking.
Rob Wesseling, CEO, Co-operators Group, said no path to net zero emissions is possible without investment in both prevention and recovery. He encouraged governments to utilize the risk information gathered by insurance companies over decades to assist with decision making.
On mobilizing private sector investment, Velenkosini Fiki Hlabisa, Minister of Cooperative Governance and Traditional Affairs, South Africa, stressed that every cent invested in resilience and preparedness saves lives and livelihoods.
View of the panel during the Multi-Stakeholder Plenary. Source: IISD/ENB | Anastasia Rodopoulou.
Ministerial roundtable
Inclusive comprehensive school safety-strengthening resilience for children and youth in all hazards
The event, which convened 36 ministries, was co-chaired by Kamal Kishore, Special Representative of the UN Secretary General for Disaster Risk Reduction and Head, UNDRR, and Paul Steffen, Deputy Director, Federal Office for the Environment, Switzerland.
In opening remarks, Kishore encouraged delegates to endorse the Comprehensive School Safety Framework 2017 (CSSF), noting only 80 countries have done so, and for countries to make schools heat-resilient.
On school safety policies, Tunisia, Zimbabwe, Mongolia, Pakistan, and Saint Lucia recognized the CSSF. Portugal highlighted its DRR working group on children and youth. Brunei Darussalam, Kenya, and Portugal recognized the fundamental rights of children to safe school environments. Colombia highlighted its Law on Teaching for Sustainability, Climate Change, and Disaster Risk Management. Republic of Korea described its 2020 Child Safety Management Act.
Many countries identified education programming as fundamental to reducing risk and developing children as agents of change in their homes and communities. Malaysia, Uganda, Russia, Algeria and others described homegrown examples of such programmes, for example, student leadership groups and First Aid skills training.
Leaders from around the globe express their shared commitment to making schools safer and more resilient to disasters. Source: IISD/ENB | Anastasia Rodopoulou.
Several countries, including Greece, Kenya and Cuba, recognized the importance of social support to children experiencing disaster and loss, and the ensuing mental and emotional health impacts. The Holy See flagged the need for spiritual care of those “who have seen whole lives swept away.”
Most countries discussed sustainable and resilient school infrastructure, including standards for new or retrofitted buildings. Belgium, Republic of Moldova, and Singapore highlighted energy efficiency and climate resilience. On heat stress in schools, Singapore flagged cooling strategies and energy-efficient fans. Tunisia described its sustainable school network that integrates climate change, disaster risk, and biodiversity objectives. Spain said new schools need to be “climate shelters.” Bangladesh noted the construction of more than 5,000 cyclone-resistant schools.
Multistakeholder plenary
Investments in reducing risk and building resilience to accelerate investments in sustainable development
Kishore introduced the session, which was co-chaired by Paul Steffen, Federal Office for the Environment, Switzerland, and Paola Albrito, UNDRR. Kishore noted less than 1% of national budgets is allocated to DRR.
Countries presented their national commitments, such as Australia’s Disaster-Ready Fund, which is providing up to AUD 1 billion (USD 648 million) over five years for locally-identified needs, and Switzerland’s DRR commitment of more than CHF 2 billion (USD 2.5 billion) annually. Many expressed appreciation for international support, including for Moldova’s local adaptation plans in 38 communities, and Samoa’s community-based disaster risk management activities. Peru highlighted its introduction of budget flexibility for regional and local authorities, enabling rapid response to imminent hazards.
The Food and Agriculture Organization of the UN (FAO) reported that only 3% of all development assistance is allocated to agricultural DRR measures, even while these deliver significant returns in ensuring food security. Swiss Re highlighted the role of insurance in informing risk and mitigation measures, noting the availaility of parametric insurance, for example, against extreme heat events and flooding. The Resilience Action Fund showcased the work of the International Finance Corporation in developing the Building Resilience Index as a world-first metric for assessing the safety and risk of buildings for insurers and construction developers. The Latin America and the Caribbean Development Bank (CAF), India, and the UK welcomed innovative initiatives, such as a new center on extreme events, establishment of risk pools, and the use of AI to identify flood threats.
Delegates affirmed regional solidarity, demonstrated in Tunisia’s hosting of the Africa-Arab Platform for DRR in 2023, and Iran’s hosting of three regional organizations, including a Regional Center for Urban Water Management. Albania welcomed its responsibilities under the EU Civil Protection Code for cooperation among EU countries and other partners, which, he noted, enables access to advanced DRR solutions.
The International Organization for Migration highlighted its 2024 launch of Climate Mobility Innovation Labs for the Africa and Asia regions to develop solutions to climate-related mobility.
Steffen urged all present to accelerate investment in DRR, and to engage the private sector as key partners.
Moderator, Juli Trtanj, Co-Chair, Gobal Heat Health Information Network, opened the session. Celeste Saulo, Secretary-General, World Meteorological Organization (WMO), called heat a “silent killer” because it is the least managed of all climate hazards. She said 50% of countries have heat warning systems in place but only 26 have dedicated Heat Health EWS. She identified three priorities: integrating heat risk into climate and DRR governance, heat EWS, and implementation using risk information and data.
In his keynote, Pramod Kumar Mishra, Principal Secretary to the Prime Minister, India, said heat threatened public health, economic stability, and the ecological resilience of cities and communities. He underscored UNDRR’s Common Framework on Extreme Heat Risk Governance and drew attention to India’s national guidelines on heat wave management, which decentralized more than 250 heat action plans in 23 states. He called for scaling hospital and primary health care preparedness and resilience and noted India is adopting a long-term heat wave mitigation strategy, including roof-cooling technologies, passive cooling centers, revival of traditional water bodies, and improved thermal comfort and livability of informal settlements.
In a panel discussion, Benoît Faraco, Ambassador, Climate Negotiations for Decarbonized Energies and for the Prevention of Climate Risks, France, urged being modest since we are still discovering impacts and avoiding maladaptation. Ousmane Ndiaye, Director General, African Center for Meteorological Application for Development, stressed the links between heat waves, energy crises, and health care demand. Rosa Galvez, Senator, Canada, spoke about lived experience saying, “We cannot adapt forever – we must work on the causes.” Jagan Chapagain, Secretary-General, International Federation of the Red Cross and Red Crescent Societies (IFRC), said extreme heat is a humanitarian crisis. On involving the financial sector, Mia Seppo, Assistant Director General, International Labour Organization, discussed climate risk insurance, just transition principles, and access to essential services. Mishra advised that industry protect labor from heat risk.
Source: IISD/ENB | Anastasia Rodopoulou.
Special session
Comprehensive approaches to reduce loss and damage-bridging climate action and DRR
Fatou Jeng, Former Climate Advisor to the UN Secretary-General and Member of the Early Warnings for All Advisory Panel, moderated the session.
Ralph Regenvanu, Minister for Climate Change, Adaptation, Meteorology and Geo Hazards, Energy, Environment and Disaster Management, Vanuatu, appreciated the support from the Fund for responding to Loss and Damage (FRLD) and the Santiago Network, which combined forces to launch the inaugural integrated loss and damage and DRR initiative in Vanuatu.
Kishore noted that, while many DRR practices are now in place, these need to be updated to deal with climate system changes and the associated risks, uncertainty, and volatility.
Benoît Faraco, argued that the distinction between loss and damage, and DRR, is theoretical, and remains irrelevant to people on the ground who want response, prevention, action, and solidarity to alleviate their situation.
Ibrahima Cheikh Diong, Executive Director, FRLD, emphasized the need to look at how interventions can be most impactful, stressing that solutions must be country-led, and recognize Indigenous groups and civil society participants. He expressed awareness that the FRLD must be “nimble, accessible, flexible and built on partnerships, always ensuring no one is left behind.”
Carolina Fuentes Castellanos, Director, Santiago Network Secretariat, elaborated on how the network is supporting countries to accelerate loss and damage, using Vanuatu’s experience to demonstrate how the Network can accelerate fund distribution and support with bold and transformative support.
Jagan Chapagain, Secretary-General, IFRC, cautioned that the terms loss and damage represent different meanings to communities, but the bottom line is to ensure the funds really reach the local level.
Thematic Sessions
Catalyzing governance solutions for disaster and climate-related displacement
Irwin Loy, The New Humanitarian, moderated this session.
John Mussington, activist and displaced person, Antigua & Barbuda, described his work of founding the community network, Stronger Caribbean Together, with others displaced by “disaster capitalism”, as storm-damaged sites are cleared for tourism development.
Sakiasi Ditoka, Minister of Rural and Maritime Development and Disaster Management, Fiji, highlighted the 2023 Pacific Regional Mobility Framework and Fiji’s own planned relocation guidelines.
Zahra Abdi Mohamed, Director-General, National Center for Rural Development and Durable Solutions, Somalia, described Somalia’s National Transformation Plan that prioritizes anticipatory action and climate-smart livelihoods, responding to the needs of long-term displaced communities.
Fatimah Zannah Mustapha, community representative, Nigeria, called for centering the voices of local women in decision making by removing barriers, “whether digital, linguistic, or cultural.” Claudinne Ogaldes Cruz, Executive Secretary, National Coordinator for Disaster Reduction (CONRED), Guatemala, noted that many Guatemalan households are women-led and have the knowledge to inform decision making.
Robert Piper, former UN Secretary-General’s Advisor on Solutions to Internal Displacement, said line ministries responsible for decisions on land use and building codes-“those who are responsible for dealing with the failure to prevent”-must become deeply involved in the governance of disaster displacement.
Leveraging Values of Nature for Resilience: Moderated by Cecilia Aipira, United Nations Environment Programme (UNEP), the session addressed the role of nature-based solutions (NbS) in DRR.
In his keynote, Mohammed-Yahya Lafdal, General Director, National Environment and Coastline Observatory, Mauritania, highlighted the increase in tree cover through reforestation and restoration, taking into account Indigenous knowledge and solutions, and the development of barrier systems for water distribution and management in desert areas. He emphasized how addressing land degradation and rehabilitation has been Mauritania’s best solution for increasing resilience.
Rodrigo Hernández Escobar, Representative of the Latin American and Caribbean Indigenous Knowledge & DRR Network, highlighted political will and respect for Indigenous cosmovision and territories as key elements for leveraging traditional knowledge into programmes supporting NbS. Isaac Luwaga Mugumbule, Head of Landscaping, Kampala Capital City Authority, Uganda, stated that NbS are context-specific and require community involvement to be sustained.
Professor Satoru Nishikawa, Japan International Cooperation Agency (JICA), stressed the need for scientific numerical quantification, analysis, and testing on the strengths and durability of NbS. Swenja Surminski, London School of Economics, noting that NbS “are not silver bullets,” stressed the need to work with nature, drawing attention to NbS co-benefits. Oliver Schelske, Swiss Re Institute, noting the absence of standardized values for nature, emphasized that even if “not everything is insurable,” investing in nature makes sense from an insurance perspective, as it reduces risks to the asset being insured.
On the prerequisites for NbS to be viable, speakers mentioned common sense, co-benefit considerations, identifying the number of protected lives, and conducting independent auditing.
Thematic Sessions as visual summaries capturing key messages and insights. Source: IISD/ENB | Anastasia Rodopoulou.
Side event
Inclusive comprehensive school safety—Strengthening resilience for children and youth in all hazards
This side event, organized and facilitated by the Global Alliance for Disaster Risk Reduction and Resilience in the Education Sector (GADRRRES), showcased school safety and resilience programmes from Central Asia, the Pacific region and the Caribbean.
Anja Nielsen, Co-Chair, GADRRRES, gave an overview of CSSF, noting the all-hazards, all-risks approach that includes environmental, climate change, and biological health risks, technical threats, and other everyday risks. She elaborated on the global school safety survey, representing 350 million school-aged children, and highlighted, among other concerns, that significant infrastructure investment is needed to better protect children and teachers from natural hazards, with most suffering from funding constraints.
Education administrators from Saint Lucia, Tonga, and Kyrgyzstan described CSSF activities and outcomes from their regions, and emphasized: involving the children actively in school safety is a game changer; collaboration is the essence of resilience, requiring whole-of-government and whole-of-society approaches; and building capacity at all levels, particularly teachers, for comprehensive school safety is key.
IISD’s summary
The summary report of the meeting will be available on Monday, 9 June 2025, here.
In June 2024, the Council and the Commission sent two written notifications to the depositary of the Treaty, notifying the withdrawal of the European Union and Euratom respectively. The withdrawals will take effect after one year, i.e. on 28 June 2025.
At the same time, and in line with the political compromise reached by EU countries, the Commission tabled a proposal on the position to be taken on behalf of the European Union in the Energy Charter Conference (‘the Conference’) by the Member States that are Contracting Parties to the Energy Charter Treaty (ECT) not to prevent the adoption by the conference of the proposed amendments to the ECT.
As a result, the Conference adopted and approved the relevant decisions on the modernisation of the ECT on 3 December 2024. The modernised ECT will enter into force after at least three-fourths of the Contracting Parties have deposited the instruments of ratification, acceptance or approval to the depositary.
The decisions on ratification of the modernised ECT are with the individual Contracting Parties and the Commission is not part of this process.
So far, nine Member States have left the ECT or are in the process of withdrawal. At this stage, the Commission is analysing options for the next steps regarding the Honourable Member’s first two questions.
The Commission remains committed to EU climate neutrality by 2050, a goal that is enshrined in the EU legal order[1].
[1] Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality and amending Regulations (EC) No 401/2009 and (EU) 2018/1999 (‘European Climate Law’).
Proposals for minimum standards of energy efficiency
Private rented homes could be subject to a Minimum Energy Efficiency Standard (MEES) from 2028 to support efforts to tackle fuel poverty and reduce emissions that contribute to climate change.
Under proposals published today, regulations would be brought forward under existing powers requiring privately rented properties, as far as possible, to reach the reformed EPC Heat Retention Rating (HRR) band C from 2028 for new tenancies and by 2033 for all privately rented homes.
In 2022 there were 300,000 privately rented properties in Scotland. The regulations would prohibit the letting of properties which fall below the minimum standard of energy efficiency, until the landlord has made any relevant energy efficiency improvements.
The current system of Energy Performance Certificates (EPC) is due to be revised and updated from 2026 with a new set of ratings to give clearer information on the fabric energy efficiency of a property; the emissions, efficiency and running costs of its heating system; and the cost of energy to run the home.
Alasdair Allan, Acting Minister for Climate Action said:
“It is vital that we find the right balance to both reach net zero by 2045 and reduce fuel poverty. Improving energy efficiency is one of the levers available to the Scottish Government that enables this dual progress.
“The lowest rates of fuel poverty are associated with higher energy efficiency standards. A majority of privately rented properties are already at a good standard of energy efficiency, based on the current EPC regime, but others still need improvement to bring them closer to reaching a good level.
“These proposals will improve those homes, reduce energy costs for tenants and support the transition to clean heating – which we will be further strengthening through the Heat in Buildings Bill that we have committed to bring forward later this year. Installing better insulation and other energy efficiency measures will also benefit people’s health, by reducing the risk of cold and dampness-related conditions.
“The Scottish Government continues to offer a wide range of support to people and organisations looking to move to clean heating or improve energy efficiency, including to private landlords.”
Exemptions are proposed to provide protection to landlords in situations where they are prevented from obtaining third party consent or permissions to carry out work; and where undertaking work could have a negative impact on the fabric or structure of the property.
Previous proposals to regulate energy efficiency for the private rented sector were put forward in 2020 but withdrawn as a consequence of the Covid-19 pandemic.
Background
Also published today are proposals for a Heat and Energy Efficiency Technical Suitability Assessment, which could support consumers by providing further evidence, beyond the EPC system, of which energy efficiency or clean heating system measures are technically suitable for their home or building, and which may not be. This optional assessment would support in particular those in buildings which are more complex to decarbonise such as tenements, traditional and protected buildings.
VANCOUVER, B.C., June 06, 2025 (GLOBE NEWSWIRE) — Black Gold Exploration Corp. (the “Company” or “BGX”) (CSE: BGX) (OTCQB: BGXCF) (FRA: BLGX) announces that its common shares are now trading under the symbol “BGXCF” on the OTCQB board of OTC Markets, a US trading platform that is operated by the OTC Markets Group in New York (the “OTC Listing”). The Company’s common shares will continue to trade on the Company’s primary market, the Canadian Securities Exchange, under the symbol “BGX” as well as on the Frankfurt Stock Exchange under the symbol “BLGX”.
This strategic expansion enhances BGX’s visibility, trading accessibility, and investor reach across North America and Europe, opening the door to a broader base of shareholders who the Company believes will recognize the potential of the Company’s emerging operations in the U.S. Midwest. BGX has now put its Fritz 2-30 well into production, of which it retains a 10% interest as part of its joint venture with LGX Energy Corp.
Francisco Gulisano, CEO of the Company stated: “We are working with a scalable asset base, a working interest in a production well with a proven technical team. Now with increasing access to global capital markets, we believe BGX is strategically positioned to continue to grow its operations and create long-term value for shareholders.”
In connection with the OTC Listing, the Company is pleased to announce that it has received DTC eligibility by The Depository Trust Company (“DTC”), a subsidiary of the Depository Trust & Clearing Corporation. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers reducing transactional costs for participating brokerage firms, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. DTC provides depository and book entry services, along with a settlement system for equities in the United States and across the globe. The organization is a member of the U.S. Federal Reserve System and a registered clearing agency with the U.S. Securities and Exchange Commission.
On behalf of the Company, Francisco Gulisano 236-266-5174 CEO
About BGX
BGX – Black Gold Exploration Corp. is an oil and gas exploration and production company dedicated to creating shareholder value in the Illinois Basin. With an experienced technical team and a growing asset base, BGX is unlocking value using modern drilling and completion technologies. For more information visit https://www.bgxcorp.com.
Forward-Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements include statements respecting: (i) the expected benefits of the OTC listing; (ii) the Company being strategically positioned to continue to grow its operations and create long-term value for shareholders; and (iii) the expected benefits of the DTC eligibility. These statements are based upon assumptions that are subject to risks and uncertainties. It should be noted that there are inherent risks and uncertainties in oil and gas exploration. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise. For a comprehensive overview of all risks that may impact the Company, please see the Company’s continuous disclosure documents filed on SEDAR+.
Neither the CSE nor the CSE’s Regulation Services Provider (as that term is defined in the policies of the CSE) accept responsibility for the accuracy of this release.
A new report on the United States nuclear weapons testing legacy in the Marshall Islands highlights the lack of studies into important health concerns voiced by Marshallese for decades that make it impossible to have a clear understanding of the impacts of the 67 nuclear weapons tests.
The report was funded by Greenpeace Germany and is an outgrowth of the organisation’s flagship vessel, Rainbow Warrior III, visiting the Marshall Islands from March to April to recognise the 40th anniversary of the resettlement of the nuclear test-affected population of Rongelap Atoll.
Dr Mahkijani said that among the “many troubling aspects” of the legacy is that the United States had concluded, in 1948, after three tests, that the Marshall Islands was not “a suitable site for atomic experiments” because it did not meet the required meteorological criteria.
Dr Makhijani highlights the point that, despite early documentation in the immediate aftermath of the 1954 Bravo hydrogen bomb test and numerous anecdotal reports from Marshallese women about miscarriages and still births, US government medical officials in charge of managing the nuclear test-related medical programme in the Marshall Islands never systematically studied birth anomalies.
Committed billions of dollars The US Deputy Secretary of State in the Biden-Harris administration, Kurt Cambell, said that Washington, over decades, had committed billions of dollars to the damages and the rebuilding of the Marshall Islands.
“I think we understand that that history carries a heavy burden, and we are doing what we can to support the people in the [Compact of Free Association] states, including the Marshall Islands,” he told reporters at the Pacific Islands Forum leaders’ meeting in Nuku’alofa last year.
“This is not a legacy that we seek to avoid. We have attempted to address it constructively with massive resources and a sustained commitment.”
Among points outlined in the new report:
Gamma radiation levels at Majuro, the capital of the Marshall Islands, officially considered a “very low exposure” atoll, were tens of times, and up to 300 times, more than background in the immediate aftermaths of the thermonuclear tests in the Castle series at Bikini Atoll in 1954.
Thyroid doses in the so-called “low exposure atolls” averaged 270 milligray (mGy), 60 percent more than the 50,000 people of Pripyat near Chernobyl who were evacuated (170 mGy) after the 1986 accident there, and roughly double the average thyroid exposures in the most exposed counties in the United States due to testing at the Nevada Test Site.
Women from the nuclear test-affected Rongelap Atoll greeted the Rainbow Warrior and its crew with songs and dances as part of celebrating the 40th anniversary of the evacuation of Rongelap Atoll in 1985 by the Rainbow Warrior. Image: RNZ Pacific/Giff Johnson
Despite this, “only a small fraction of the population has been officially recognised as exposed enough for screening and medical attention; even that came with its own downsides, including people being treated as experimental subjects,” the report said.
Women reported adverse outcomes “In interviews and one 1980s country-wide survey, women have reported many adverse pregnancy outcomes,” said the report.
“They include stillbirths, a baby with part of the skull missing and ‘the brain and the spinal cord fully exposed,’ and a two-headed baby. Many of the babies with major birth defects died shortly after birth.
“Some who lived suffered very difficult lives, as did their families. Despite extensive personal testimony, no systematic country-wide scientific study of a possible relationship of adverse pregnancy outcomes to nuclear testing has been done.
“It is to be noted that awareness among US scientists of the potential for major birth defects due to radioactive fallout goes back to the 1950s. Hiroshima-Nagasaki survivor data has also provided evidence for this problem.
“The occurrence of stillbirths and major birth defects due to nuclear testing fallout in the Marshall Islands is scientifically plausible but no definitive statement is possible at the present time,” the report concluded.
“The nuclear tests in the Marshall Islands created a vast amount of fission products, including radioactive isotopes that cross the placenta, such as iodine-131 and tritium.
“Radiation exposure in the first trimester can cause early failed pregnancies, severe neurological damage, and other major birth defects.
No definitive statement possible “This makes it plausible that radiation exposure may have caused the kinds of adverse pregnancy outcomes that were experienced and reported.
“However, no definitive statement is possible in the absence of a detailed scientific assessment.”
Scientists who traveled with the Rainbow Warrior III on its two-month visit to the Marshall Islands earlier this year collected samples from Enewetak, Bikini, Rongelap and other atolls for scientific study and evaluation.
This article is republished under a community partnership agreement with RNZ.
Source: United Kingdom – Executive Government & Departments
Press release
Rooftop solar for new builds to save people money
New homeowners stand to benefit from rooftop solar and cheaper bills, with the Future Homes Standard being published this Autumn.
Families will have lower energy bills in new homes as part of the Plan for Change, as government confirms new build homes will have solar panels by default
Proposed changes in the Future Homes Standard, being published in Autumn, will ensure new homes will be modern and energy efficient, cutting bills and boosting the nation’s energy security with clean, homegrown power
Working people stand to save hundreds of pounds off their energy bills as the government confirms new build homes will have solar panels by default, unleashing a rooftop revolution.
Ministers are publishing the Future Homes Standard this autumn and have confirmed today (Friday 6 June) that solar panels will be included, leading to installation on the vast majority of new build homes.
Illustrating the benefits of solar panels, a typical existing UK home could save around £530 a year from installing rooftop solar, based on the current energy price cap.
This means today’s new proposals could significantly cut energy bills for the recipients of new build homes, tackling the cost of living for aspirational young families and new house buyers.
Under proposed changes, new homes will also have low-carbon heating, such as heat pumps and high levels of energy efficiency, cutting people’s energy bills and boosting the nation’s energy security with clean, homegrown power, in line with the Prime Minister’s Plan for Change.
To deliver these aims, the proposed Future Homes Standard would see building regulations amended to explicitly promote solar for the first time, subject to practical limits with flexibility in place for new homes surrounded by trees or with lots of shade overhead.
From switching on the kettle to cooking dinner and doing the weekly wash, families will now be able to seize the benefits of powering their lives with clean, renewable energy from the very first day in their new home, with cheaper energy bills that put more money back in their pockets.
Energy Secretary Ed Miliband said:
Solar panels can save people hundreds of pounds off their energy bills, so it is just common sense for new homes to have them fitted as standard.
So many people just don’t understand why this doesn’t already happen. With our plans, it will.
Today marks a monumental step in unleashing this rooftop revolution as part of our Plan for Change, and means new homeowners will get lower bills with clean home-grown power.
Housing and Planning Minister, Matthew Pennycook said:
As part of the government’s Plan for Change to build 1.5 million homes, we are maximising the use of renewable energy to cut people’s bills and power their homes.
The Future Homes Standard will ensure new homes are modern and efficient with low-carbon heating, while our common-sense planning changes will now make it easier and cheaper for people to use heat pumps and switch to EVs so they can play their part in bolstering our nation’s energy security.
After legislation came into force last week, more homeowners will now be able to install a heat pump within one metre of their property’s boundary without having to submit a planning application, unlocking even more savings and cutting unnecessary paperwork for working people.
With figures from Octopus showing that 34% of those who order a heat pump are discouraged or drop out for reasons attributed to the need to submit a planning application, this change will help families who may have less space outside their home make the upgrade to clean power.
The first quarter of 2025 saw a record number of applications to the Boiler Upgrade Scheme, up 73% from the same quarter in 2024.
The scheme provides households with up to £7,500 off the cost of a heat pump, which can save families around £100 a year by using a smart tariff effectively.
Chris Hewett, Chief Executive, Solar Energy UK, said:
The solar industry is very glad to hear that almost all new homes will be fitted with solar power from under the Future Homes Standard. Making solar panels a functional requirement of the Building Regulations will cut energy bills, lower carbon emissions, help drive polluting natural gas off the grid and improve our nation’s energy security, too.
Aadil Qureshi, Co-Founder and CEO, Heat Geek, said:
Installing a heat pump, particularly alongside solar panels is an amazing way for homeowners to save hundreds of pounds on their energy bills and create a more comfortable home. The simplification of planning rules will help millions of homeowners, particularly in normal family homes in towns and cities, take advantage of this technology.
Charles Wood, Deputy Director of Policy (Systems) at Energy UK, said:
The addition of rooftop solar to the Future Homes Standard is welcome and necessary in ensuring that homes built today are fit for the future. Building homes to the right standards now will deliver immediate benefits of warmer, more comfortable, and more cost-efficient homes, preventing the need to retrofit these properties later at higher costs to the customer.
This change, alongside wider reforms to planning processes and network connections, will reduce bills for people in new build properties while also giving the industry confidence to invest in increased manufacturing and installer training as demand increases, creating jobs and bringing down technology costs for everyone.
Ensuring our future energy security relies on producing more British power, the electrification of our economy and cutting waste. The energy sector continues to deliver energy efficiency improvements and install low-carbon heating, generation, and transport technologies for households and businesses across the country.
Chris O’Shea CEO of Centrica, said:
The age of solar is well and truly upon us, with millions of households up and down the country already benefiting from generating their own free electricity from the sun. Our research shows that customers can shrink their energy bills by 90% when they combine solar and battery with the right energy tariff, and this announcement means even more households can soak up the savings—and the sunshine—by generating their own clean, free electricity. And with the Future Home Standard expected in the Autumn, momentum is building behind Great Britain’s rooftop revolution.
Ed Lockhart, Chief Executive, Future Homes Hub, said:
The Future Homes Standard represents a major opportunity to build a generation of higher performing new homes. Moving to all electric homes, with photovoltaics, a better fabric system, better ventilation and smart technologies to optimise the way new homes use energy means that new homes will not only be better for the planet but also more comfortable, healthier to live in and cheaper to run for customers.
The Future Homes Hub is ready to support this mission, bringing homebuilders, social housing providers, suppliers, financial institutions and other experts together to work with government departments to find the best solutions to secure the benefits of the Future Homes Standard whilst accelerating housing delivery, crucially helping smaller developers to get the right support at the right time.
Nigel Banks, Zero Bills Director at Octopus Energy, said:
People deserve lower energy bills, and adding solar panels to a house as it’s built is an incredibly effective way to slash costs from day one.
With the right smart tech and storage added to the mix, some households won’t have to pay a penny for energy.
We’re delighted to see the Future Homes Standard enable house builders to now build the homes of the future.
Matthew Hart, Director of Residential New Build at E.ON Next, said:
Ensuring that every new home comes equipped with solar panels is a vital step forward for the UK. Our vision at E.ON has always been to make clean, affordable energy the standard, not the exception, and this move will empower homeowners to take control of their energy use and keep bills low from day one. It’s exactly the kind of bold, practical action we need to build a more secure, low-carbon future for everyone.
Mark Wakeford, National Chairman, National Federation of Builders, said:
Solar panels on new homes make sense because they lower bills and progress the clean energy revolution we so desperately need. Credit must also be given for recent announcements on grid investment and connection reforms, as these were important challenges to recognise and solve for a rooftop revolution to happen in practice.
Charlotte Lee, CEO, Heat Pump Association, said:
The HPA welcomes clarity on the publication timeline for the Future Homes Standard and confirmation that all new homes will be required to have low-carbon heating, such as heat pumps. Coupled with solar PV, highly efficient heat pump installations will result in low consumer energy bills and increase the UK’s energy security. This announcement provides a clear signal to the heat pump sector to scale up delivery in terms of workforce and manufacturing to meet the anticipated growth in the market and demonstrates the government’s commitment to decarbonise buildings.
Garry Felgate, Chief Executive of The MCS Foundation, said:
These plans by the government are a huge boost to the UK renewables sector, to our efforts to meet net zero, and in reducing energy costs for households.
This announcement clearly shows that clean energy in the UK is the future. Maximising renewable energy technologies can benefit households by reducing bills as well as enhancing our national energy security.
Trevor Hutchings, Chief Executive of the Renewable Energy Association (REA) said:
The growth of solar power has been one of the UK’s biggest renewable energy success stories, demonstrating without a doubt that we don’t have to choose between lowering our emissions and lowering household energy bills.
Today’s announcement – which the REA has long campaigned for – takes this one step further – not only enabling thousands of future homeowners to experience the benefits of affordable and clean power, but supercharging growth in the British renewable energy industry and driving forward our energy transition.
Notes to editors
Future Homes Standard
The changes outlined today will maximise the use of solar energy through the Future Homes Standard.
In 2023, the previous government proposed that new build homes would either need solar panel coverage equivalent to 40% of the building’s floor area or none at all.
This approach would have allowed for too many exemptions and no solar being installed on these developments.
The government is intending to bring forward rigorous proposals, that if developers cannot meet 40% coverage, they would still be required to install a reasonable amount of solar coverage.
Under this proposal, it would be a functional requirement of the Building Regulations that new homes, with rare exceptions, are built with renewable electricity generation. In the vast majority of cases, we expect this would be solar panels.
We are working with industry to set the technical detail ahead of publishing the final Future Homes Standard this Autumn.
The Future Homes Standard will also see homes built with low carbon heating such as heat pumps and heat networks.
Solar
The £530 a year saving is based on government’s published Home Energy Assessment tool, which allows the user to produce an estimate of the bill savings they could expect from solar given the characteristics of their home.
The figure is the potential savings for a home and is included to illustrate the benefits of solar panels. An estimate of the bill savings for a Future Homes Standard home will be included in the final impact assessment published in Autumn.
The figures are based on a typical 3.5 kW south-facing installation using the Standard Assessment Procedure (SAP) methodology.
The costs and savings individuals experience will be affected by factors such as how often they heat their home, the precise technical details of their installations, and future energy prices.
The savings displayed are based on the April 2025 price cap. As energy prices change, so will the estimates of savings.
Domestic heat pumps
The changes to permitted development rights, which came into force on Thursday 29 May in England, cover:
removing the 1m boundary rule, enabling air source heat pumps to be installed within 1m of the property boundary
increasing the size limit of the heat pump for dwellinghouses from 0.6m3 to 1.5m3
doubling the number of heat pumps permitted per detached dwellinghouse, from 1 to 2
allowing for air source heat pumps that can be used for cooling as well as heating – facilitating the role out of air-to-air models – and providing consumers more choice
Modern heat pumps are generally perceived as quiet and typically no louder than a fridge. When installed under a permitted development right, they must also comply with a noise assessment methodology which includes an upper noise limit assessed at the nearest neighbouring habitable room window or door, as part of the Microgeneration Certification Scheme Planning Standard.
There were a total of 11,256 applications to the Boiler Upgrade Scheme between January and March 2025, which was up 73% from the first quarter of 2024.
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.
The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.
Washington, DC – June 6, 2025:Lithuania has proved resilient to multiple shocks in recent years.However, new challenges are emerging—including further increases in defense expenditure adding to the existing long-term spending pressures—while long-standing structural issues still require attention. Lithuania needs to reignite its reform momentum to boost productivity while addressing these challenges. A comprehensive strategy is needed to preserve fiscal space through revenue mobilization, enhanced spending efficiency, and limiting further spending pressures by strengthening the multi-pillar pension system. Structural reforms should focus on facilitating investments and accelerating the adoption of new technologies to boost productivity growth, supplemented by labor market policies, including reducing skills mismatches. Financial sector policies should continue to safeguard financial stability and integrity.
Recent Developments, Outlook, and Risks
The economy grew strongly in 2024. Growth accelerated to 2.7 percent—well above peers—driven by private consumption supported by significant real income gains. The recovery was broad-based across sectors, including manufacturing and high value-added services, despite sluggish productivity growth. While inflation remained low for the most part of the year, it has risen since late 2024, driven by higher energy prices and excise duties.
While fiscal performance exceeded expectations, the deficit widened, and the debt ratio is increasing. The deficit almost doubled from 0.7 percent of GDP in 2023 to 1.3 percent of GDP in 2024, reflecting increased public wages and pensions. Higher revenues supported by robust aggregate wage growth and lower-than-anticipated expenditure, mainly from the accrual correction in defense spending, prevented the deficit from increasing further. However, pre-payments for additional orders of defense equipment and the continued buildup of the general government cash buffer contributed to an increase in the debt-to-GDP ratio from 37.3 percent in 2023 to 38.2 percent in 2024, for the first time since 2020.
The banking sector remains financially sound, with high capitalization, ample liquidity buffers, and low non-performing loan (NPL) ratios. Banks continue to be highly profitable, although profitability eased in 2024 compared to the record high levels seen in the previous year, against lower interest rates driven by ECB monetary policy easing.
There are signs of gradual financial expansion. Reflecting decreasing lending rates and recovering credit demand, loan growth to both non-financial corporations and households recovered in 2024 and early 2025, and credit-to-GDP ratios have increased moderately. House price growth stabilized in 2024, down from the 2022 peak. Nevertheless, house prices are likely not significantly above levels justified by fundamentals, given the recent robust demand while housing supply is increasing, and affordability has improved.
The economy is expected to grow at 2.8 percent in 2025 while inflation will increase to 3.1 percent. Growth will be supported by private consumption and rising investment related to EU funds. External demand will remain subdued reflecting uncertainty regarding trade policies, despite the positive outlook of information and communication technologies (ICT) and professional activities. Increased excise duties and persistently high wage growth will keep headline and core inflation above pre-pandemic averages in the coming years. The labor market will tighten reflecting negative labor force dynamics affected by the normalization of migration flows.
Risks to the outlook are tilted to the downside. As a small open economy, Lithuania is exposed to high uncertainty around trade policies and geopolitical risks. A severe downturn in its main trade partners would worsen the external performance and domestic activity. In the medium term, weaker demographics pose risks to labor supply which could add pressures on wages and competitiveness if productivity growth fails to accelerate. In the absence of sufficient measures, the fiscal position is subject to considerable medium-term risk with higher defense spending needs adding to the already high existing long-term pressures.
Fiscal Policy
A moderately less expansionary fiscal stance than currently expected would be helpful in 2025, and the strategy should shift to preserving fiscal space. The deficit is projected to rise to 2.8 percent of GDP in 2025, due to significant increases in pension spending and higher public sector wages. However, with a small and decreasing negative output gap under staff projections and considering mounting spending pressures in the medium term, going forward, a moderately tighter fiscal stance to reduce deficits and stabilize the debt-to-GDP ratio would be appropriate. With a view to safeguarding fiscal buffers and minimize the need for larger adjustments in later years, any unused spending or revenue overperformance this year should be saved to limit the deficit increase.
A stronger fiscal adjustment will be required if defense spending rises notably from current levels. The envisaged increase in defense spending to 5-6 percent of GDP in 2026-30 from the current level of 3 percent would raise financing needs significantly. In the absence of additional fiscal measures, debt could reach 60 percent of GDP by 2030. The proposed tax policy changes to accommodate these spending needs are welcome, but the revenue yield is estimated to be modest. Greater efforts will therefore be needed to maintain debt dynamics on a sustainable path in the medium term to preserve fiscal space to absorb possible future shocks. An average annual adjustment of about 0.5 percentage points of GDP in the general government balance over 2026-30, with the majority of additional defense spending financed by front-loaded increases in tax revenues, would help stabilize debt at around 50 percent of GDP by 2030.
Financing options for additional defense spending should be anchored by revenue mobilization. While temporary measures and productivity-enhancing capital expenditure could be deficit-financed, a sizable part of the additional defense spending is likely to be permanent, warranting higher revenues or lower spending in other areas. The tax policy change proposal appropriately targets a mix of taxes, but there is further scope to raise additional revenues while improving the system, including increasing progressivity and efficiency. This could include raising revenues through making the personal income tax (PIT) system more progressive and streamlining the tax schedules to prevent higher marginal tax rates for lower income earners, limiting exemptions in corporate income taxes (CIT) and property taxes, and reducing the value added tax (VAT) compliance gap while improving VAT efficiency.
Revenue mobilization should be complemented by spending measures. Fiscal savings could be generated by improving spending efficiency, including in healthcare and education. Hospital network rationalization could enhance the quality of service while reducing costs. The teacher-student ratio is relatively high for secondary education and there is room to rationalize the school network while improving quality.
Strengthening the multi-pillar pension system will limit some of the additional spending pressures in the medium-term. The current pension system implies significant increases in public pension expenditure over the next two decades, driven by adverse demographics, while replacement ratios will remain low. The Pillar II reform proposal under discussion, entailing participation to become voluntary and increased options to opt out and suspend participation, is likely to further reduce the replacement rate. These changes could have a material impact on the entire pension system and the public finances. Staff urges the authorities to allow sufficient time to carefully consider all potential ramifications, including through further thorough analysis of the social and fiscal sustainability of the broader pension system.
Financial Sector Policies
Financial sector policies should continue to focus on safeguarding financial stability. Bank profitability is expected to moderate further but to remain high in 2025. Financial conditions are likely to ease in 2025 due to declining ECB policy rates and increased competition in financial sector, such as from the increasing footprint of fintech companies. Solvency and liquidity stress tests conducted by the Bank of Lithuania suggest that banks can withstand adverse macroeconomic scenarios and unexpected liquidity shocks. While some smaller banks require enhancing capitalization and closer oversight, all in all, financial stability risks arising from the banking system are broadly contained. With an increased frequency of cyberattacks on banks in recent years, cyber resilience should continue to be strengthened, including the full implementation of the Digital Operational Resilience Act (DORA) regulation.
The current macroprudential stance is broadly appropriate, but continued vigilance is warranted. Financial cycles including residential real estate and private sector credit so far have exhibited no major signs of overheating, but the sustained pace of expansion requires close monitoring and readiness to act in case early signs of an excessive financial expansion emerge. Despite the low exposure of banks, the commercial real estate market continues to require attention as risks of price corrections remain due to the persistent imbalance between supply and demand. In the event of a significant adverse financial shock with the potential to trigger widespread losses in the banking sector, the relaxation of capital-based measures would be appropriate to minimize credit supply disruptions and support lending to the economy.
The AML/CFT framework has been strengthened significantly, but continued effective implementation is essential. The third national risk assessment identified virtual asset service providers (VASPs), and electronic money institutions (EMI), and payment institutions (PI) as posing significant ML/TF risks. The authorities should continue AML/CFT efforts to mitigate cross-border risks, including Bank of Lithuania’s oversight and market controls for newly licensed VASPs under MiCAR regime, supervision of payment service institutions, and AML/CFT measures for CENTROlink members.
Structural Reforms
Lithuania faces structural headwinds limiting productivity and long-term growth. The recent recovery has been largely driven by higher labor accumulation enabled by temporary net migration, while the contributions from capital and total factor productivity (TFP) growth remained smaller than those observed during earlier periods of faster income convergence. Given expected population declines in the coming years, structural reforms to facilitate greater capital deepening and higher productivity growth are essential.
Higher investment is needed to support potential growth. Low capital intensity remains a key barrier to productivity growth and the transition towards a higher value-added oriented economy. Development of risk capital, co-financing and mechanisms for risk sharing tailored to enhance the flow of credit to small and medium sized enterprises (SMEs), targeted credit guarantee schemes and integrating digital solutions can help alleviate constraints related to the lack of access to finance experienced by some firms. In this context, the expanded role of the state-owned institution ILTE—previously INVEGA—can play a role, complementing the private banking sector in supporting investment in areas such as high value-added sectors, innovation, energy efficiency, and strategic infrastructures. To consolidate the institution’s role as a national development bank, it is essential to ensure effective monitoring and transparency of ILTE operations. More fundamentally, deepening the EU’s single market—combined with stronger incentives to develop domestic capital markets—would help support access to finance of corporates and further productive investments in the country.
Inefficiencies in the education system contribute significantly to the persistent skills mismatches in Lithuania’s labor market. As one of the countries with the highest skills mismatches in Europe, Lithuania faces ongoing challenges despite measures including the government’ active labor market policies and their evaluation and the smart specialization multi-year program aimed at enhancing workforce skills. Critical shortages persist in essential sectors, including nursing, engineering, and scientific fields, highlighting the urgent need for strategic reforms in education and training to better align with market demands.
Ensuring effective integration of migrants into the labor market is crucial to sustain the labor force. Recent immigrants have been successfully absorbed into the Lithuanian labor market and legislative amendments have enabled easier migration for high-skilled workers despite the reduction of the non-EU workers quota in 2025. Policies should focus on integrating migrants in the most productivity-enhancing way possible while facilitating the participation of foreign professionals in those sectors with the largest shortages.
Further investment in digitalization and AI preparedness has the potential to boost productivity growth. Lithuania has invested significantly in digitalizing its economy in recent years, becoming one of the main fintech hubs in Europe. However, despite progress in digitalization and in AI preparedness, its digital infrastructure remains close to the EU average. To unlock possibly substantial productivity gains, policies should aim to facilitate technological diffusion, job transition and AI adoption among firms, while introducing measures to mitigate associated risks in terms of possible job replacements and inequality deepening. In this respect, the recent initiatives included in the START plan aimed at promoting digitalization and the deployment of AI both in the private sector and in public administration will support these efforts.
Energy security has been reinforced in the last years. The Baltic countries joined the European electricity grid in 2025, completely disconnecting from the Russian electricity system. Moreover, Lithuania has diversified its energy sources and import dependency has been lowered through the intensification of domestic electricity production from renewable sources in the recent years. Still, being susceptible to risks associated with climate change, Lithuania needs to accelerate the green transition, particularly for adaptation. In this respect, future investment in new technologies and defense initiatives should not thwart efforts to reduce economy-wide emissions, such as the recently adopted policies in the context of the updated National Energy and Climate Action Plan (NECP) for the period 2021–2030.
The IMF team is grateful for the warm hospitality of the Lithuanian authorities and would like to thank all its interlocutors in government, the Bank of Lithuania, the European Central Bank, the private sector, unions, and business associations for constructive and fruitful discussions.
SYDNEY, June 06, 2025 (GLOBE NEWSWIRE) — Leading online FX and CFD broker Axi attended the Finance Magnates Africa Summit (FMAS:25), held on May 29-30, 2025, at the Cape Town International Convention Centre in Cape Town, South Africa.
Event attendees were introduced to Axi Select, Axi’s capital allocation program launched in 2023. The program, designed to empower ambitious traders on their trading journey, has been a game-changer in the trading field. Tens of thousands of traders worldwide have signed up to Axi Select, with many now reaching significant milestones and accessing funding amounts of $100,000, $200,000, and $500,000, and the top funding milestone, $1,000,000.
Attendees of the expo also had the opportunity to explore Axi’s Introducing Broker (IB) and Affiliate programs, learn more about the broker’s partnership with Premier League Champions, Man City, as well as snap exclusive photos with Man City’s Premier League memorabilia and the club’s mascot, brought in especially for the event.
Further to the broker’s collaboration with Premier League club, Manchester City FC, Axi also partners with Brazilian club, Esporte Clube Bahia, LaLiga club, Girona FC, and named England international John Stones as their Brand Ambassador in 2023. Over the past several months, Axi has garnered significant recognition for its innovation in the trading industry. The broker was recently named ‘Best Funded Trader Programme’ by the ADVFN International Financial Awards 2025, acknowledging the excellence of its capital allocation program, Axi Select. In 2024, Axi was also celebrated at the 2024 Dubai Forex Expo with the ‘Innovator of the Year’ award, and was named ‘Most Innovative Proprietary Trading Firm’ by Finance Feeds, highlighting the broker’s continued focus to providing their traders with the competitive edge they need to succeed.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available to AU, NZ, EU and UK residents. For more information, refer to our Terms of Service.
About Axi
Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.
For more information or additional comments from Axi, please contact: mediaenquiries@axi.com
Source: People’s Republic of China – State Council News
China has fundamentally improved the business environment and supply reliability of electricity, and significantly reduced power outages in urban and rural areas during the past few years, a senior energy official said.
After years of combined effort, China has made connecting to the power grid easier and more affordable across the country, Song Hongkun, deputy director of the National Energy Administration, said during a news conference held in Beijing on Thursday.
As a result, the average power outage time for urban and rural grid users decreased by 28 percent and 44 percent, respectively, last year compared to 2020.
Major cities in the Beijing-Tianjin-Hebei region, the Yangtze River Delta region, and the Pearl River Delta region saw average outage times fall below one hour this year, with core urban areas reaching levels comparable to advanced global cities, he said.
Looking ahead, China aims to establish a modern business environment for the power sector, characterized by convenience, high-quality supply, green usage, universal service, and coordinated regulation by 2029, further supporting the country’s modernization drive, Song added.
According to the administration, the country’s installed renewable energy capacity reached almost 2.02 billion kilowatts by the end of April, a year-on-year increase of 58 percent. Combined wind and solar power capacity hit 1.53 billion kilowatts, surpassing thermal power for the first time.
In 2024 alone, China added 373 million kilowatts of renewable energy capacity, accounting for approximately 86 percent of the total new power capacity. For the past two consecutive years, new renewable energy installations have exceeded 300 million kilowatts, representing over 50 percent of global additions, it said.
Renewable energy generation reached 3.47 trillion kilowatt-hours in 2024, about 35 percent of total power generation. Wind and solar power have maintained a high overall utilization rate in recent years, Song noted.
To further enhance the grid’s ability to absorb renewable energy, China has been actively promoting the construction of large-scale clean energy bases and inter-provincial transmission lines, improving system regulation capabilities. The government has set a target of ensuring a national renewable energy utilization rate of no less than 90 percent by 2027.
According to Song, the administration has been continuously improving the comprehensive carrying capacity of distribution networks to accommodate the increasing proportion of distributed renewable energy sources, particularly distributed solar power.
This involves strengthening the construction and upgrading of distribution grids, building robust and flexible networks, enhancing intelligent capabilities, and refining grid dispatch and operation mechanisms, he said.
According to Zhou Xia, director-general of the center of power reliability management at the China Electricity Council, significant investment and technological progress have positioned China as the operator of the world’s most advanced power grid.
National power supply reliability reached 99.924 percent last year, a further improvement from the previous year and a dramatic increase compared to the early 1990s when urban residents experienced an average of 96.54 hours of power outages annually, she said.
Rural areas have also seen substantial gains, with power supply reliability for rural grid users substantially improved.
Qian Chaoyang, general manager of China Southern Power Grid, said the company has increased investment in rural grid construction this year to enhance its capacity to absorb distributed renewable energy. During the 14th Five-Year Plan period (2021-25), the company has invested over 170 billion yuan ($23.68 billion) in rural grid network, with 31.2 billion yuan allocated for this year. Investments will be further increased during the 15th Five-Year Plan period (2026-30) to improve the situation, he said.
BW Energy has engaged Pareto Securities as Global Coordinator together with Arctic Securities as Joint Bookrunners to arrange a series of fixed income investor meetings. Fearnley Securities and Sparebank1 Markets are acting as Co-Managers. Subject to inter alia market conditions and acceptable terms, a new senior unsecured bond issue of USD 300 million with a tenor of five years may follow. The purpose of the bond issue is for general corporate purposes. Holders of BWE01 bonds will be offered to roll-over their bonds into the new contemplated bond issue.
BW Group (76.5% shareholder and primary insider through Mr. Andreas Sohmen-Pao) has the intention to subscribe and be allocated USD 100 million in the new bond including roll-over of USD 38.5 million of their existing BWE01 bonds. CEO Carl Arnet will also subscribe and be allocated USD 2.5 million in the new bond including roll-over of USD 2 million of his existing BWE01 bonds.
For further information, please contact: Brice Morlot, CFO BW Energy +33.7.81.11.41.16 ir@bwenergy.no
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.
This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Regine Andersen, 06 June 2025
London, United Kingdom (06 June 2025) – TGS, a leading global provider of energy data and intelligence has commenced a geophysical survey for the pioneering Green Volt floating offshore wind farm. Mobilization initiated in Aberdeen last week and the work scheduled throughout June will include an ultra-high resolution 3D (UHR3D) seismic survey used to deliver detailed subsurface data for the floating wind farm’s site characterization.
The Green Volt project is a joint venture between leading offshore wind developers Flotation Energy and Vårgrønn. As Europe’s first commercial-scale floating windfarm at 560 MW, the project is a catalyst for developing a highly specialized UK floating wind supply chain.
Utilizing integrated Multibeam Echo Sounder, Side Scan Sonar, Sub-bottom Profiler and Magnetometer sensors, the advanced survey will enhance geological understanding and provide critical insights for the project’s site planning and risk assessments.
Spanning the full lifecycle from acquisition planning to imaging and interpretation, this campaign for Green Volt will support employment opportunities across the UK, where TGS maintains a significant presence. TGS has 3 offices in the UK with over 200 employees. Offshore survey crews, geophysicists and onshore geoscientists will be engaged throughout the project, ensuring the delivery of high-quality processed data and interpretations.
UHR3D data will provide detailed understanding of the subsurface conditions, revealing potential risks and challenges that are not always accurately captured through traditional 2D data interpolation. The enhanced data collection will help the Green Volt project team identify geological hazards and structural complexities, contributing to improved site assessment and risk mitigation strategies. This, in turn, will form a reliable foundation for the project’s ongoing planning and execution. By leveraging the latest acquisition configurations, TGS will enhance efficiency and improve target resolutions to meet the highest industry standards.
Commenting on the start of this survey, TGS EVP New Energy Solutions, Will Ashby, said:
“This represents a key milestone for TGS to utilize our expertise, technology and resources to support the development of the first commercial floating offshore wind farm, Green Volt. This simultaneous acquisition of all sensors and the application of our cutting-edge processing techniques is reinforcing our commitment to delivering industry-leader data solutions. UHR3D will be a key aspect to developing floating wind farms.”
Matt Green, Project Director for Green Volt said:
“Green Volt is pleased to be working alongside TGS on these important geophysical site surveys, which will not only advance our project but will also further develop our understanding of how the UKCS subsea offshore landscape can support deeper, larger windfarms as we continue to develop our industry. Accurate data is vital component in our learning and will help strengthen the UK’s floating wind supply chain. This contract supports local jobs and innovation, helping to build a world-leading offshore wind sector right here in the UK.”
About TGS TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).
About Green Volt Green Volt is set to become Europe’s first commercial scale floating offshore wind farm, located approximately 80 kilometres off the northeast coast of Scotland.
Jointly developed by Flotation Energy and Vårgrønn, the project will feature up to 35 floating wind turbines with a total capacity of 560 megawatts. Once operational, Green Volt will provide clean power to the UK grid and facilitate the electrification of participating oil and gas platforms.
Developed under Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) leasing round, Green Volt aims to reduce carbon emissions by one million tonnes per year, significantly contributing to the UK’s and Scotland’s net-zero targets. The project has secured all necessary planning approvals and, in September 2024, was awarded a Contract for Difference (CfD) by the UK Government.
Source: People’s Republic of China – State Council News
This aerial photo taken on July 7, 2023 shows a view of a former coal mine after ecological restoration in Jungar Banner, north China’s Inner Mongolia Autonomous Region. [Photo/Xinhua]
The Standing Committee of the National People’s Congress (NPC), or China’s national legislature, initiated a nationwide enforcement inspection of the Energy Conservation Law on Thursday to ensure its full and effective implementation and promote higher-quality energy-saving efforts.
The Energy Conservation Law, enacted on Jan. 1, 1998, has been revised in 2007, 2016 and 2018.
According to the first plenary meeting of the NPC Standing Committee’s inspection team, the inspection will combine on-site checks with delegated inspections.
The team will conduct field inspections in Tianjin, Jiangsu, Hunan, Guangdong, Guangxi and Sichuan, while the standing committees of local people’s congresses in Beijing, Hebei, Shanxi, Jilin, Shanghai and Chongqing will assess the law’s enforcement within their respective regions.
Key inspection areas include implementation of energy-saving management systems, energy conservation in key sectors and entities, advancements in energy-saving technologies, implementation of incentive policies, formulation of supporting regulations, other issues regarding law enforcement, and suggestions for revising the law.
Source: People’s Republic of China – State Council News
Nearly five years after China issued a guideline in 2020 to improve electricity access, the country has cut related costs by over 300 billion yuan (US$42 billion), said Song Hongkun, deputy administrator of the National Energy Administration, on Thursday.
