Category: Finance

MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Austria

Source: IMF – News in Russian

July 3, 2025

Austria has experienced two successive years of recession under weak domestic and external demand, triggered by the energy price shock and subsequent euro area monetary tightening. Despite weak demand and some easing in labor market conditions, inflation at around 3 percent year-on-year still exceeds inflation in the euro area by about 1 percentage point, with sticky services inflation and the lapsing of energy price relief policies causing headline inflation to rise. The fiscal deficit widened to 4.7 percent of GDP in 2024 due to the weak economy, lagged effects of inflation, and one-off expenditures, among other factors, resulting in an increase in public debt to 81 percent of GDP.
The growth outlook continues to remain weak for 2025, reflecting planned fiscal consolidation and heightened global trade barriers and trade policy uncertainty. A return to growth is expected from 2026 onwards, though the medium-term growth and fiscal outlook faces significant headwinds from demographic aging and sluggish productivity growth.
The outlook is subject to risks in both directions. Downside risks to growth predominate, including from increased global trade policy uncertainty and protracted weak sentiment. Upside risks include a faster-than-expected rebound in private demand or easing of global trade tensions.

Washington, DC – [July 3, 2025]: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation26F^[1] with Austria. The authorities have consented to the publication of the Staff Report prepared for this consultation.27F[2]

Executive Board Assessment28F^{^[3]}

Austria faces a challenging economic situation. Following two successive years of recession triggered by the energy-price shock and subsequent euro-area monetary tightening, the growth outlook remains weak for 2025, reflecting sizable planned fiscal consolidation and heightened global trade barriers and uncertainty. GDP is expected to recover more strongly from 2026 onwards under the baseline scenario. Nevertheless, the near-term outlook faces significant risks, including from global trade policy uncertainty and related uncertain financial conditions, which could affect economic sentiment and demand. Inflation in 2025Q1 still well exceeds the euro-area average and is only expected to close the gap gradually by end-2026. While Austria’s external position in 2024 is assessed as broadly in line with the level implied by medium-term fundamentals and desired policy settings, Austria’s competitiveness could be undermined over time if inflation convergence does not occur, which could happen if productivity-adjusted wage growth persistently exceeds the euro-area average. Moreover, headwinds from population aging and sluggish productivity growth will continue to constrain medium-term growth prospects, absent significant reforms. Major new fiscal adjustment measures are also needed over the medium term to put the debt ratio back on a downward path while offsetting rising spending pressures from aging, defense, the green transition, and interest payments.

The government’s near-term fiscal consolidation measures will help reduce inflationary pressures and slow the rise in debt. The government’s announced fiscal measures for 2025 are expected to lower the deficit and are sufficient for 2025 given the weak economy. If near-term downside risks materialize, the authorities should let automatic stabilizers operate freely to avoid an excessive drag on growth, with measures deployed to protect the most vulnerable in the event of a severe downturn.

A bold and well-designed package of consolidation measures can yield significant savings over the medium term. The authorities should aim to cut the deficit to below 2 percent of GDP to put the debt ratio on a declining path. To achieving this while offsetting rising spending pressures, the authorities could consider some combination of gradually reducing pension replacement rates, which are among the highest in the EU; limiting public-sector wage increases; increasing health-care spending efficiency; and eliminating environmentally harmful subsidies, along with greater reliance on property, inheritance, gift, and excise taxes—taxes that are all somewhat low in Austria compared to the European average. Gradually increasing the national carbon price could generate additional fiscal resources, help prepare for anticipated higher carbon prices under EU ETS2, and encourage efficient carbon mitigation in service of Austria’s ambitious decarbonization goals.

Reforms to increase labor supply and reduce regulatory barriers could significantly boost medium and long-term growth. Boosting labor supply by narrowing the gap in full-time work by females and in labor force participation among elderly workers relative to the EU average could offset more than 20 years of demographic aging in terms of the effect on GDP. In this regard, ongoing efforts to provide more childcare are welcome and should be deepened by further expanding childcare and eldercare facilities, undertaking pension reforms that incentivize longer working lives, and continuing efforts to better integrate immigrants into the work force. The growth outlook could be further improved by stepping up efforts to cut red tape in services sectors where regulatory barriers remain high, speed the approval of renewable energy projects, and reduce regulatory bottlenecks in housing supply, including by easing land-use regulations. Measures to promote capital market finance for firms, especially equity financing for young firms at different stages of growth, could foster more innovation and entrepreneurship, as could ongoing efforts to strengthen ecosystems of collaboration between academia and industry.

Deepening the EU Single Market is also critical for improving Austria’s productivity and economic growth. Intra-EU trade barriers remain significant. Reducing these barriers and deepening the EU Single Market, including through reforms such as Savings and Investment Union and the establishment of harmonized rules for businesses operating in different jurisdictions (i.e., creating and implementing a well-designed common 28th corporate regime) could allow firms to better leverage economies of scale and catalyze financing for innovative ideas. Further energy market integration within the EU would help reduce the level and variability of energy costs. Supporting such reforms is one of the most important steps that Austria could take to boost productivity and growth across both Austria and Europe.

The financial sector remains healthy and macroprudential policies are broadly appropriate, but continued vigilance on potential credit risks is warranted. Banks face potential credit risks, including from nonfinancial corporates affected by the rise in global trade barriers and trade policy uncertainty. To mitigate these risks and prepare for an expected normalization of bank profits from recent highs, the authorities should continue to encourage banks to value collateral conservatively, ensure adequate risk provisions, and remain prudent in profit distributions, including to build resilience to shocks and invest in infrastructure to safeguard against cyberthreats. Regarding the borrower-based measures for residential real estate lending, which are set to lapse in July 2025, the new government should consider legislation to adopt these measures as permanent instruments, as they are consistent with international standards for prudent underwriting. Meanwhile, supervisors should remain vigilant that banks adhere closely to the proposed lending guidelines that will replace the borrower-based measures. Regarding CRE risks, the introduction of the SSyRB set at 1 percent of CRE assets is welcome, and the authorities should continue their efforts to close macroprudential CRE data gaps. The current setting of the CCyB at zero remains appropriate given weak credit growth. Implementing key outstanding recommendations from IMF staff’s 2020 Financial System Stability Assessment would further strengthen the framework for financial sector oversight and safety mechanisms.

	Table 1. Austria: Selected Economic Indicators, 2022–26
Population (million, 2024):		9.1				Per capita GDP:		$56,216
Quota (SDR million, current):		3932.0				Literacy rate 1/:		100%
Main products and exports:		Diversified				Poverty rate 2/:		14.9%
Key exports markets:		Germany, CESEE
			2022	2023	2024		2025	2026
							Proj.


Output
Real GDP growth (%)			5.4	-0.9	-1.3		-0.1	0.8
				w
Employment
Unemployment (Harmonized) (%)			4.7	5.1	5.4		5.6	5.5
			W	Ww
Prices
Inflation (%, average)			8.6	7.7	2.9		3.2	1.7

General government finances
Revenue (% of GDP)			49.7	50.1	51.6		52.0	52.1
Expenditure (% of GDP)			53.1	52.7	56.3		56.3	56.3
Fiscal balance (% of GDP)			-3.4	-2.6	-4.7		-4.3	-4.1
Public debt (% of GDP)			78.4	78.5	81.2		82.8	84.0

Money and credit
Broad money (% change)			5.2	-0.1	4.3		3.0	3.2
Credit to the private sector (% change) 3/			6.2	0.2	0.5		1.1	2.0

Balance of payments
Current account (% of GDP)			-0.9	1.3	2.4		2.6	2.9
FDI (% of GDP, net)			0.0	1.1	0.3		0.3	0.3
Reserves (months of imports)			1.3	1.2	1.6		1.6	1.6
External debt (% of GDP)			150.8	152.3	157.8		161.0	163.6

Exchange rates
REER (% change)			0.2	1.8	0.5		…	…

Sources: Authorities, and staff estimates and projections.
1/ Percent of population aged 15-74 with education attainment between pre-primary and tertiary education.
2/ 2022, at risk of poverty rate after social transfers.
3/ Households and non-financial corporations. Exchange rate adjusted.

[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

[2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The staff report will be shortly published on the www.imf.org/Austria page.

[3] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Camila Perez

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

https://www.imf.org/en/News/Articles/2025/07/02/pr-25237-austria-imf-concludes-2025-art-iv-consult

MIL OSI

MIL OSI Russia News –

July 4, 2025

MIL-OSI: Nano Labs Has Purchased About US$50 Million BNB, Expands Digital Asset Reserves to around US$160 Million

Source: GlobeNewswire (MIL-OSI)

HONG KONG, July 03, 2025 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced the purchase of 74,315 Binance Coin (BNB) tokens through the OTC (Over-The-Counter) format at an average price of approximately US$672.45, with a total transaction value of about US$50 million. Following this transaction, the Company’s cumulative reserve of mainstream digital currencies, including Bitcoin and BNB, has around US$160 million, marking a successful initial step in Nano Labs’ BNB strategic plan and underscoring its commitment to increasing BNB holdings over time.

The Company committed to thoroughly evaluating the security and long-term value of BNB, aiming to acquire up to US$1 billion worth of BNB through convertible notes and private placements in the initial phase. Over the long run, Nano Labs intends to hold 5% to 10% of BNB’s total circulating supply.

About Nano Labs Ltd

Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips and high performance computing (“HPC”) chips. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. In addition, it has established Bitcoin value investment and adopted Bitcoin as primary reserve asset. Nano Labs has established an integrated solution platform covering three main business verticals, including HTC solutions and HPC solutions. The HTC solutions feature its proprietary Cuckoo series chips, which have become alternative Application-Specific Integrated Circuit (“ASIC”) solutions for traditional GPUs. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

* According to an industry report prepared by Frost & Sullivan.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For investor inquiries, please contact:

Nano Labs Ltd
ir@nano.cn

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

The MIL Network –

July 4, 2025
MIL-OSI: AGF Announces Passing of Kevin McCreadie, CEO and CIO

Source: GlobeNewswire (MIL-OSI)

TORONTO, July 03, 2025 (GLOBE NEWSWIRE) — It is with great sadness that AGF Management Limited (AGF) announces the sudden passing of Kevin McCreadie, the firm’s Chief Executive Officer (CEO) and Chief Investment Officer (CIO).

“The entire AGF team is devastated by the loss of Kevin, our colleague and leader,” said Blake Goldring, Executive Chairman, AGF. “His impact on our organization – and the people within it – has been profound and will be lasting. We extend our heartfelt condolences to the McCreadie family during this difficult time.”

Kevin joined the firm in 2014, and his leadership, vision, and dedication played a pivotal role in shaping the firm into what it is today. He will be remembered for many things, in particular his passion for investment management and his focus on developing and nurturing talent for the future. Kevin will also be remembered for his personal mentorship of employees, unwavering commitment to diversity initiatives and promoting financial literacy.

Judy Goldring LL.B, LL.D Named CEO

Given today’s announcement, the AGF Board of Directors has activated its succession plan protocols and named Judy Goldring, AGF’s President and Head of Global Distribution as CEO, effective immediately.

Judy is a respected leader in the asset management industry with over 30 years’ experience in a range of roles. In her most recent role as President and Head of Global Distribution, she oversaw the execution of strategic plans in support of business priorities and provided frequent counsel to Kevin on business planning and direction for corporate initiatives.

Judy joined AGF in 1998 in the role of General Counsel and has held several roles with increasing responsibility across the firm. Prior to being named President, she served as Executive Vice-President and Chief Operating Officer. In the role, she demonstrated leadership in promoting and supporting the firm’s operational effectiveness. Judy is also a member of the Board of Directors for AGF Management Limited and AGF Mutual Funds where she provides strategic leadership and vision that promotes AGF’s long-term growth. Outside of AGF, Judy is also Chair, Board of Directors, SIMA (formerly IFIC).

“We have full confidence in Judy’s ability to lead the firm given her profile, vision and demonstrated leadership skills,” added Blake Goldring. “She has the full support of the AGF team and our Board of Directors.”

Judy will work closely with AGF’s Office of the CIO – established under Kevin’s leadership – as they continue to lead AGF’s investment management team, ensuring stability of culture and focus on delivering strong, consistent investment performance for clients.

“Under Kevin’s visionary leadership, AGF’s culture is strong and the firm is strategically well-positioned for sustained growth,” concluded Blake Goldring. “The Board has every confidence in the AGF team’s ability to continue driving long-term success for the benefit of all stakeholders.”

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $53 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

Media Contact

Amanda Marchment
Director, Corporate Communications
416-865-4160
amanda.marchment@agf.com

The MIL Network –

July 4, 2025
MIL-OSI: eToro Appoints Former SEC Commissioner Laura Unger and Wix CFO Lior Shemesh as Board Members

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 03, 2025 (GLOBE NEWSWIRE) — eToro Group Ltd. (“eToro”, or the “Company”) (NASDAQ: ETOR), the trading and investing platform, today announced the appointment of Laura Unger and Lior Shemesh as Board Members. Both Ms. Unger and Mr. Shemesh will also join eToro’s Audit & Risk Committee.

Commenting on the appointments, Yoni Assia, Co-founder and CEO, said: “As eToro enters this new chapter as a Nasdaq listed company, we are delighted that Laura Unger and Lior Shemesh will join eToro’s Board. As leaders in their respective fields, they bring extensive knowledge and expertise to the Board. We look forward to benefiting from Laura’s experience across regulatory governance and risk management, as well as Lior’s financial and operational leadership as we continue to grow eToro’s presence around the world, including our goal to expand our operations in the U.S.”

Ms. Unger is a financial services regulatory, legislative, policy and strategy expert. She has held a variety of public and private sector roles and served on multiple corporate boards over the last twenty years, including Borland Software, MBNA, Merrill Lynch IQ Funds, Ambac Financial, CA Technologies, CIT Group and Navient Corporation. She is a former SEC Commissioner and Acting Chair, and former Counsel to the U.S. Senate Banking Committee.

Ms. Unger currently serves as an independent director and Risk Committee Chair for the global investment bank Nomura Holdings Inc. (NYSE “NMR”) (Tokyo), as Audit Chair and director of its largest subsidiary, Nomura Holdings America, and director of its trading platform, Instinet.

Ms. Unger began her government career as an SEC Enforcement Attorney in NYC and Washington, DC, followed by her service as Securities Counsel to the US Committee on Banking, Housing and Urban Affairs. She received a B.A. in Rhetoric from the University of California at Berkeley in 1983, and a J.D. from New York Law School in 1987.

“I’m pleased to join eToro’s Board at such an exciting moment for the company and for the investing landscape more generally. I look forward to sharing my two decades of experience by providing capital markets, regulatory and governance insights. Beyond this, eToro and I share a passion for understanding technology’s impact on capital markets. At a time when the pace of technological innovation is accelerating, I’m thrilled to be joining a company which prides itself on being at the forefront of compliant innovation,” said Ms. Unger.

Lior Shemesh is an experienced CFO with a strong track record of shaping and leading the financial strategy and operations for technology companies. He has served as CFO of Nasdaq listed software company Wix since April 2013. Before joining Wix, Lior served as VP Finance and then CFO at Alverion Ltd., a provider of optimized wireless broadband solutions. Previously, he held senior finance roles at Veraz Networks Inc., a softswitch, media gateway and digital compression solutions provider, and ECI Telecom Ltd., a network infrastructure provider.

From July 2012 to June 2021, Mr. Shemesh served on the board of directors of Aspen Group Ltd., where he was also on the compensation committee, financial statements committee, as well as Chair of the audit committee.

Mr. Shemesh began his career as an accountant at Israel Aerospace Industries. He has a B.A. in Accounting & Economics and an M.B.A. from Bar-Ilan University.

“I’m honored to be joining the Board of eToro at such a pivotal time in its growth journey. I’ve spent years in the technology space and am deeply impressed by eToro’s commitment to harnessing technology to empower individual investors around the world. I look forward to working with the Board and eToro’s leadership team to support the company’s mission and help drive its continued growth and success,” said Mr. Shemesh.

About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media center here for our latest news.

Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding eToro’s financial outlook and market positioning. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “outlook,” “guidance,” “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “plan,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond eToro’s control. eToro’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to market volatility and erratic market movements; failure to retain existing users or adding new users; extreme competition; changes in regulatory and legal framework under which eToro operates; regulatory inquiries and investigations; eToro’s estimates of its financial performance; interest rate fluctuations; the evolving cryptoasset market, including the regulations thereof; conditions related to eToro’s operations in Israel, including the ongoing war; risks related to data security and privacy and use of OSS; risks related to AI; changes in general economic or political conditions; changes to accounting principles and guidelines; the ability to maintain the listing of eToro’s securities on Nasdaq; unexpected costs or expenses; and other factors described in “Risk Factors” in eToro’s Registration Statement on Form F-1, filed with the Securities and Exchange Commission (the “SEC”) on March 24, 2025, as amended, and declared effective by the SEC on May 13, 2025. Further information on potential risks that could affect actual results will be included in the subsequent filings that eToro makes with the SEC from time to time.

Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent eToro’s views as of the date of this press release. eToro anticipates that subsequent events and developments will cause its views to change. eToro undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing eToro’s views as of any date subsequent to the date of this press release.

Contact
Media Relations – pr@etoro.com
Investor Relations – investors@etoro.com

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e5e9931e-ef09-48e3-b5c9-448e9ecfb052

https://www.globenewswire.com/NewsRoom/AttachmentNg/89bdaab3-6db5-4493-ad09-8535b5e87f45

The MIL Network –

July 4, 2025
MIL-OSI Video: A youth delegate on her journey to the development financing conference | #FFD4 | United Nations

Source: United Nations (video statements)

Twenty-year old Yvonne Bejjani, who grew up in Lebanon, describes how that experience helped shaped her convictions and led her to attend the Fourth International Conference on Financing for Development as an official delegate.

https://www.youtube.com/watch?v=L3rqnv55GmE

MIL OSI Video –

July 4, 2025
MIL-OSI Africa: Ethiopia: African Development Bank approves $50 million Trade Finance Transaction Guarantee Facility to Awash Bank for support to Small and Medium Sized Enterprises (SMEs) and local corporates

Source: APO

.

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $50 million Trade Finance Transaction Guarantee facility to support to trade finance activities of Awash Bank S.C. (Awash) (https://apo-opa.co/44ecHyL), in Ethiopia.

This facility will enable the Bank to provide a guarantee of up to 100 percent to confirming banks for the non-payment risk arising from the confirmation of Letters of Credit and similar trade finance instruments issued by Awash. The facility will provide much needed import trade finance requirements to Small and Medium Sized Enterprises (SMEs) and local corporates in Ethiopia. It will also support intra-Africa trade, thus directly contributing to the successful implementation of the African Continental Free Trade Area (AfCFTA) (https://apo-opa.co/44J2Sc1) agenda.

Following the approval, African Development Bank Head of Trade Finance, Lamin Drammeh said: “Supporting Trade in Africa is a key priority at the African Development Bank. Trade finance is an important driver of economic growth and is critical for cross-border trade, particularly in emerging markets. We are delighted to work with Awash, a strong partner with extensive knowledge and network in Ethiopia, on a shared ambition to support the region’s Trade.”

Commenting on the approval, Tsehay Shiferaw, CEO of Awash Bank S.C., said: “The Trade Finance Transaction Guarantee facility approved to our bank by the African Development Bank will ease the burden of arranging cash collateral with banks, thereby improving our liquidity and enabling us to support more trade customers.” He added: “The facility will enhance our trade relationships with other International and African confirming banks.

Awash looks forward to further strengthening its partnership and benefiting more from the resources and extensive capabilities of the African Development Bank and its partners, Shiferaw said.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Amba Mpoke-Bigg
Communication and External Relations Department
email: a.mpoke-bigg@afdb.org

Technical Contact:
Bernard Muhati
b.muhati@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states.

For more information: www.AfDB.org

MIL OSI Africa –

July 4, 2025
MIL-OSI: Brookfield Business Partners Announces Sale of Assets to Seed New Evergreen Private Equity Strategy

Source: GlobeNewswire (MIL-OSI)

• Transaction enables Brookfield Business Partners to monetize a partial interest in three businesses at a value accretive to the trading price of its units and shares

• Provides new evergreen private equity strategy with an immediate, diversified portfolio

• The Transaction was subject to a rigorous, independent review process which included a fairness opinion provided by an independent third-party financial advisor

BROOKFIELD, NEWS, July 03, 2025 (GLOBE NEWSWIRE) — Brookfield Business Partners (NYSE: BBU, BBUC; TSX: BBU.UN, BBUC), today announced that it has reached an agreement to sell a portion of its interest in three businesses (the “Transaction”) to a new evergreen private equity strategy (the “New Fund”) targeting high-net-worth investors, managed by Brookfield Asset Management.

Under the terms of the Transaction, Brookfield Business Partners will sell an approximate 12% interest in its engineered components manufacturing operation (“DexKo”), an approximate 7% interest in its dealer software and technology services operation (“CDK Global”) and an approximate 5% interest in its work access services operation (“BrandSafway”) to the New Fund.

Brookfield Business Partners will receive units of the New Fund (the “Units”) with an initial redemption value of approximately $690 million, representing an aggregate 8.6% discount to the net asset value (“NAV”) of the interests sold. In the 18-month period following the initial closing of the New Fund, expected later this year, the Units are expected to be redeemed for cash at an 8.6% discount to NAV at the time of redemption. Any remaining Units still outstanding after this 18-month period will be redeemable at NAV.

A joint independent committee comprising independent directors of Brookfield Business Partners retained an independent financial advisor and external legal counsel to assist with their review of the Transaction. The joint independent committee received a fairness opinion from their independent financial advisor, and following consultation with their advisors determined that the Transaction is fair and in the best interests of Brookfield Business Partners.

Anuj Ranjan, CEO of Brookfield Business Partners said, “The Transaction provides a strong outcome for Brookfield Business Partners’ unitholders and shareholders and provides the new evergreen private equity strategy with an immediate diversified seed portfolio prior to its launch. The realization of these partial interests, at a value that is accretive to the trading price of our units and shares, enables Brookfield Business Partners to continue to accelerate the return of capital under current and future buyback programs, reinvest in the growth of its business and reduce corporate leverage.”

The sale is expected to be completed on July 4, 2025.

Independent Review Process

The Transaction was reviewed by independent committees (the “Independent Committees”) formed by the boards of directors of the general partner of Brookfield Business Partners L.P. and of Brookfield Business Corporation (collectively, the “Boards”), which are comprised of independent directors. The Independent Committees retained Stikeman Elliott LLP as their external counsel and Origin Merchant Partners as their independent financial advisor to assist in their review of the Transaction.

The Independent Committees received an opinion from Origin Merchant Partners that, subject to various assumptions, qualifications and limitations to be set forth in its opinion letter, the consideration to be received by Brookfield Business Partners L.P. and Brookfield Business Corporation pursuant to the Transaction is fair, from a financial point of view, to Brookfield Business Partners L.P. and Brookfield Business Corporation.

After consultation with their independent financial and legal advisors, the Independent Committees unanimously determined that the Transaction is fair to and in the best interests of Brookfield Business Partners L.P. and Brookfield Business Corporation, and unanimously recommended to the Boards that Brookfield Business Partners L.P. and Brookfield Business Corporation approve the Transaction. The Boards have unanimously (excluding conflicted directors, who did not participate in deliberations) determined that the Transaction is in the best interests of Brookfield Business Partners L.P. and Brookfield Business Corporation and approved the Transaction.

As the value of the Transaction is less than 25% of the consolidated market capitalization of Brookfield Business Partners L.P., the Transaction is exempt from the formal valuation and minority shareholder approval requirements under applicable securities laws.

Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in our company either through Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), a limited partnership or Brookfield Business Corporation (NYSE, TSX: BBUC), a corporation. For more information, please visit https://bbu.brookfield.com.

Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion of assets under management.

For more information, please contact:

Cautionary Statement Regarding Forward-looking Statements and Information

Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements with respect to the CDK Global, BrandSafway and DexKo businesses, their growth and leadership prospects and the Transaction described in this news release, including the expected redemption value of the Units, the timeline for redemption and the use of the proceeds therefrom, and include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets”, “projects”, “forecasts”, “views”, “potential”, “likely” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”.

Although we believe that such forward-looking statements are based upon reasonable assumptions and expectations, investors and other readers should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Business Partners, CDK Global, BrandSafway and/or DexKo to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and results of operations and our plans and strategies may vary materially from those expressed in the forward-looking statements and forward-looking information herein.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to, the following: the cyclical nature of our operating businesses and general economic conditions and risks relating to the economy, including unfavorable changes in interest rates, foreign exchange rates, inflation, commodity prices and volatility in the financial markets; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; business competition, including competition for acquisition opportunities; strategic actions including our ability to complete dispositions and achieve the anticipated benefits therefrom; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; changes to U.S. laws or policies, including changes in U.S. domestic and economic policies as well as foreign trade policies and tariffs; technological change; litigation; cybersecurity incidents; the possible impact of international conflicts, wars and related developments including terrorist acts and cyber terrorism; operational, or business risks that are specific to any of our business services operations, infrastructure services operations or industrials operations; changes in government policy and legislation; catastrophic events, such as earthquakes, hurricanes and pandemics/epidemics; changes in tax law and practice; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States including those set forth in the “Risk Factors” section in our annual report for the year ended December 31, 2024 filed on Form 20-F.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

The MIL Network –

July 4, 2025
MIL-OSI: Bitcoin Solaris Enters Final Weeks of Presale Amid Growing Investor Interest
Source: GlobeNewswire (MIL-OSI)

TALLINN, Estonia, July 03, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris (BTC-S), a next-generation blockchain project, today announced it has entered the final four weeks of its limited presale, with over $6 million raised and more than 13,650 users participating. This milestone marks a key moment for the BTC-S ecosystem, which aims to redefine accessibility in crypto through mobile mining, smart contract integration, and energy-efficient consensus design.

The token is currently priced at $10, with the next phase set to increase to $11 and an official launch price of $20. A 6% bonus remains available for eligible presale participants.

BTC-S Builds the Future

Bitcoin Solaris (BTC-S) flips the script. With its dual-layer blockchain design, a hybrid consensus that blends Proof-of-Work with Delegated Proof-of-Stake, and energy-efficient infrastructure, BTC-S is designed from the ground up to support scalability, mobile-first mining, and lightning-fast smart contract performance. The system achieves 10,000 TPS with finality in 2 seconds, positioning it as one of the fastest decentralized platforms in development today.

BTC-S: Wealth-Building Meets Modern Infrastructure

Let’s talk about what truly makes Bitcoin Solaris a potential wealth-creation engine. Unlike traditional cryptocurrencies that require expensive equipment and deep technical skills, BTC-S makes mining accessible to everyone through the upcoming Solaris Nova app.

Using a refined adaptive algorithm and smart validator rotation, mining is optimized for smartphones. And that’s not speculation. It’s already live in testing and supports efficient participation with minimal energy use. Whether you’re in a big city or a rural area, mobile mining with BTC-S is designed to be truly inclusive. You can even preview your potential earnings using their mining calculator.

But that’s just the beginning. BTC-S is also pushing boundaries with smart contract support and a growing set of DeFi functionalities. It’s not just a coin. It’s an ecosystem with room to build.

From Mobile to Mainnet BTC-S Powers a New Financial Era

Core highlights include:
- Dual-consensus model with validator rotation for security and decentralization
- Cross-chain bridge development for asset interoperability
- Smart contracts optimized for DeFi scalability
- Ongoing audits from Cyberscope and Freshcoins
- Full integration with the Solaris Nova App for on-the-go mining and governance
And let’s not forget the excitement brewing in the crypto influencer space. The team behind BTC-S has been getting attention from prominent channels. A full review by Crypto Show dives into what’s making Bitcoin Solaris one of the most talked-about launches of the year.

The Presale: A Window That’s Closing Fast

Investors love numbers. Here are a few worth paying attention to.
- Current price: $10
- Next phase: $11
- Launch price: $20
- Bonus: 6%
- Over $6 million raised, and more than 13,650 users have joined
And this isn’t one of those endless presales that drag on for a year. The entire event is capped at just 90 days. That means only around 4 weeks remain to get in before BTC-S goes live and enters the next phase. With this kind of momentum, it’s no wonder some are calling it the shortest presale in crypto history.

To receive your tokens on launch day, Bitcoin Solaris recommends using Trust Wallet or Metamask for smooth and secure delivery. These platforms ensure seamless distribution without requiring a connection during the presale phase.

You can track everything directly from the main platform at bitcoinsolaris.com.

BTC-S Tokenomics: Designed for Scarcity and Growth

If you’re wondering what makes BTC-S truly different from Bitcoin, it starts with distribution. While Bitcoin mining now rewards whales, Bitcoin Solaris designed its tokenomics to favor longevity and fair access. The entire structure is focused on real utility, scarcity, and growth.

BTC-S follows a fixed-supply model with a maximum of 21 million tokens. The breakdown is worth a glance and can be found on their official tokenomics page, but here’s a quick preview:
- 66.66% reserved for mining, distributed over 90 years
- 20% allocated to the presale
- The rest is dedicated to liquidity, community, marketing, and development
This long-term vision isn’t just fluff. It’s embedded into how BTC-S operates. Fair, structured, and driven by actual participation.

In addition, Holders can now enjoy daily mini-games from Bitcoin Solaris, unlocking new chances to earn every day. Explore how it works here.

Final Thoughts: Trump Lit the Spark, But BTC-S Carries the Torch

Trump’s Bitcoin comments are the kind of headlines that draw eyes. But Bitcoin Solaris is offering something stronger than soundbites. It’s offering architecture, access, and opportunity. For those who missed Bitcoin’s early years and feel like they arrived too late, BTC-S may just be that rare second chance.

And it’s not just a theory. It’s live. It’s active. And it’s fast approaching a launch that could redefine what early adoption means in this cycle.

For more information on Bitcoin Solaris:
Website: https://www.bitcoinsolaris.com/
Telegram: https://t.me/Bitcoinsolaris
X: https://x.com/BitcoinSolaris

Media Contact:
Xander Levine
press@bitcoinsolaris.com
Press Kit: Available upon request

Disclaimer: This content is provided by Bitcoin 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.

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

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/da8fa6b1-e655-42f5-83da-3af586f5d9cb

https://www.globenewswire.com/NewsRoom/AttachmentNg/dd0f3d3c-9319-4033-8368-a75d65eece20

https://www.globenewswire.com/NewsRoom/AttachmentNg/504dc2bd-4ef4-4350-866d-d8419a416555

https://www.globenewswire.com/NewsRoom/AttachmentNg/16b32510-defe-48a8-b5c0-6d8d782d5622

The MIL Network –
July 4, 2025
MIL-OSI: Bitcoin Solaris Enters Final Weeks of Presale Amid Growing Investor Interest
Source: GlobeNewswire (MIL-OSI)

TALLINN, Estonia, July 03, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris (BTC-S), a next-generation blockchain project, today announced it has entered the final four weeks of its limited presale, with over $6 million raised and more than 13,650 users participating. This milestone marks a key moment for the BTC-S ecosystem, which aims to redefine accessibility in crypto through mobile mining, smart contract integration, and energy-efficient consensus design.

The token is currently priced at $10, with the next phase set to increase to $11 and an official launch price of $20. A 6% bonus remains available for eligible presale participants.

BTC-S Builds the Future

Bitcoin Solaris (BTC-S) flips the script. With its dual-layer blockchain design, a hybrid consensus that blends Proof-of-Work with Delegated Proof-of-Stake, and energy-efficient infrastructure, BTC-S is designed from the ground up to support scalability, mobile-first mining, and lightning-fast smart contract performance. The system achieves 10,000 TPS with finality in 2 seconds, positioning it as one of the fastest decentralized platforms in development today.

BTC-S: Wealth-Building Meets Modern Infrastructure

Let’s talk about what truly makes Bitcoin Solaris a potential wealth-creation engine. Unlike traditional cryptocurrencies that require expensive equipment and deep technical skills, BTC-S makes mining accessible to everyone through the upcoming Solaris Nova app.

Using a refined adaptive algorithm and smart validator rotation, mining is optimized for smartphones. And that’s not speculation. It’s already live in testing and supports efficient participation with minimal energy use. Whether you’re in a big city or a rural area, mobile mining with BTC-S is designed to be truly inclusive. You can even preview your potential earnings using their mining calculator.

But that’s just the beginning. BTC-S is also pushing boundaries with smart contract support and a growing set of DeFi functionalities. It’s not just a coin. It’s an ecosystem with room to build.

From Mobile to Mainnet BTC-S Powers a New Financial Era

Core highlights include:
- Dual-consensus model with validator rotation for security and decentralization
- Cross-chain bridge development for asset interoperability
- Smart contracts optimized for DeFi scalability
- Ongoing audits from Cyberscope and Freshcoins
- Full integration with the Solaris Nova App for on-the-go mining and governance
And let’s not forget the excitement brewing in the crypto influencer space. The team behind BTC-S has been getting attention from prominent channels. A full review by Crypto Show dives into what’s making Bitcoin Solaris one of the most talked-about launches of the year.

The Presale: A Window That’s Closing Fast

Investors love numbers. Here are a few worth paying attention to.
- Current price: $10
- Next phase: $11
- Launch price: $20
- Bonus: 6%
- Over $6 million raised, and more than 13,650 users have joined
And this isn’t one of those endless presales that drag on for a year. The entire event is capped at just 90 days. That means only around 4 weeks remain to get in before BTC-S goes live and enters the next phase. With this kind of momentum, it’s no wonder some are calling it the shortest presale in crypto history.

To receive your tokens on launch day, Bitcoin Solaris recommends using Trust Wallet or Metamask for smooth and secure delivery. These platforms ensure seamless distribution without requiring a connection during the presale phase.

You can track everything directly from the main platform at bitcoinsolaris.com.

BTC-S Tokenomics: Designed for Scarcity and Growth

If you’re wondering what makes BTC-S truly different from Bitcoin, it starts with distribution. While Bitcoin mining now rewards whales, Bitcoin Solaris designed its tokenomics to favor longevity and fair access. The entire structure is focused on real utility, scarcity, and growth.

BTC-S follows a fixed-supply model with a maximum of 21 million tokens. The breakdown is worth a glance and can be found on their official tokenomics page, but here’s a quick preview:
- 66.66% reserved for mining, distributed over 90 years
- 20% allocated to the presale
- The rest is dedicated to liquidity, community, marketing, and development
This long-term vision isn’t just fluff. It’s embedded into how BTC-S operates. Fair, structured, and driven by actual participation.

In addition, Holders can now enjoy daily mini-games from Bitcoin Solaris, unlocking new chances to earn every day. Explore how it works here.

Final Thoughts: Trump Lit the Spark, But BTC-S Carries the Torch

Trump’s Bitcoin comments are the kind of headlines that draw eyes. But Bitcoin Solaris is offering something stronger than soundbites. It’s offering architecture, access, and opportunity. For those who missed Bitcoin’s early years and feel like they arrived too late, BTC-S may just be that rare second chance.

And it’s not just a theory. It’s live. It’s active. And it’s fast approaching a launch that could redefine what early adoption means in this cycle.

For more information on Bitcoin Solaris:
Website: https://www.bitcoinsolaris.com/
Telegram: https://t.me/Bitcoinsolaris
X: https://x.com/BitcoinSolaris

Media Contact:
Xander Levine
press@bitcoinsolaris.com
Press Kit: Available upon request

Disclaimer: This content is provided by Bitcoin 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.

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

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/da8fa6b1-e655-42f5-83da-3af586f5d9cb

https://www.globenewswire.com/NewsRoom/AttachmentNg/dd0f3d3c-9319-4033-8368-a75d65eece20

https://www.globenewswire.com/NewsRoom/AttachmentNg/504dc2bd-4ef4-4350-866d-d8419a416555

https://www.globenewswire.com/NewsRoom/AttachmentNg/16b32510-defe-48a8-b5c0-6d8d782d5622

The MIL Network –
July 4, 2025
MIL-OSI: Bitcoin Solaris Enters Final Weeks of Presale Amid Growing Investor Interest
Source: GlobeNewswire (MIL-OSI)

TALLINN, Estonia, July 03, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris (BTC-S), a next-generation blockchain project, today announced it has entered the final four weeks of its limited presale, with over $6 million raised and more than 13,650 users participating. This milestone marks a key moment for the BTC-S ecosystem, which aims to redefine accessibility in crypto through mobile mining, smart contract integration, and energy-efficient consensus design.

The token is currently priced at $10, with the next phase set to increase to $11 and an official launch price of $20. A 6% bonus remains available for eligible presale participants.

BTC-S Builds the Future

Bitcoin Solaris (BTC-S) flips the script. With its dual-layer blockchain design, a hybrid consensus that blends Proof-of-Work with Delegated Proof-of-Stake, and energy-efficient infrastructure, BTC-S is designed from the ground up to support scalability, mobile-first mining, and lightning-fast smart contract performance. The system achieves 10,000 TPS with finality in 2 seconds, positioning it as one of the fastest decentralized platforms in development today.

BTC-S: Wealth-Building Meets Modern Infrastructure

Let’s talk about what truly makes Bitcoin Solaris a potential wealth-creation engine. Unlike traditional cryptocurrencies that require expensive equipment and deep technical skills, BTC-S makes mining accessible to everyone through the upcoming Solaris Nova app.

Using a refined adaptive algorithm and smart validator rotation, mining is optimized for smartphones. And that’s not speculation. It’s already live in testing and supports efficient participation with minimal energy use. Whether you’re in a big city or a rural area, mobile mining with BTC-S is designed to be truly inclusive. You can even preview your potential earnings using their mining calculator.

But that’s just the beginning. BTC-S is also pushing boundaries with smart contract support and a growing set of DeFi functionalities. It’s not just a coin. It’s an ecosystem with room to build.

From Mobile to Mainnet BTC-S Powers a New Financial Era

Core highlights include:
- Dual-consensus model with validator rotation for security and decentralization
- Cross-chain bridge development for asset interoperability
- Smart contracts optimized for DeFi scalability
- Ongoing audits from Cyberscope and Freshcoins
- Full integration with the Solaris Nova App for on-the-go mining and governance
And let’s not forget the excitement brewing in the crypto influencer space. The team behind BTC-S has been getting attention from prominent channels. A full review by Crypto Show dives into what’s making Bitcoin Solaris one of the most talked-about launches of the year.

The Presale: A Window That’s Closing Fast

Investors love numbers. Here are a few worth paying attention to.
- Current price: $10
- Next phase: $11
- Launch price: $20
- Bonus: 6%
- Over $6 million raised, and more than 13,650 users have joined
And this isn’t one of those endless presales that drag on for a year. The entire event is capped at just 90 days. That means only around 4 weeks remain to get in before BTC-S goes live and enters the next phase. With this kind of momentum, it’s no wonder some are calling it the shortest presale in crypto history.

To receive your tokens on launch day, Bitcoin Solaris recommends using Trust Wallet or Metamask for smooth and secure delivery. These platforms ensure seamless distribution without requiring a connection during the presale phase.

You can track everything directly from the main platform at bitcoinsolaris.com.

BTC-S Tokenomics: Designed for Scarcity and Growth

If you’re wondering what makes BTC-S truly different from Bitcoin, it starts with distribution. While Bitcoin mining now rewards whales, Bitcoin Solaris designed its tokenomics to favor longevity and fair access. The entire structure is focused on real utility, scarcity, and growth.

BTC-S follows a fixed-supply model with a maximum of 21 million tokens. The breakdown is worth a glance and can be found on their official tokenomics page, but here’s a quick preview:
- 66.66% reserved for mining, distributed over 90 years
- 20% allocated to the presale
- The rest is dedicated to liquidity, community, marketing, and development
This long-term vision isn’t just fluff. It’s embedded into how BTC-S operates. Fair, structured, and driven by actual participation.

In addition, Holders can now enjoy daily mini-games from Bitcoin Solaris, unlocking new chances to earn every day. Explore how it works here.

Final Thoughts: Trump Lit the Spark, But BTC-S Carries the Torch

Trump’s Bitcoin comments are the kind of headlines that draw eyes. But Bitcoin Solaris is offering something stronger than soundbites. It’s offering architecture, access, and opportunity. For those who missed Bitcoin’s early years and feel like they arrived too late, BTC-S may just be that rare second chance.

And it’s not just a theory. It’s live. It’s active. And it’s fast approaching a launch that could redefine what early adoption means in this cycle.

For more information on Bitcoin Solaris:
Website: https://www.bitcoinsolaris.com/
Telegram: https://t.me/Bitcoinsolaris
X: https://x.com/BitcoinSolaris

Media Contact:
Xander Levine
press@bitcoinsolaris.com
Press Kit: Available upon request

Disclaimer: This content is provided by Bitcoin 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.

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

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/da8fa6b1-e655-42f5-83da-3af586f5d9cb

https://www.globenewswire.com/NewsRoom/AttachmentNg/dd0f3d3c-9319-4033-8368-a75d65eece20

https://www.globenewswire.com/NewsRoom/AttachmentNg/504dc2bd-4ef4-4350-866d-d8419a416555

https://www.globenewswire.com/NewsRoom/AttachmentNg/16b32510-defe-48a8-b5c0-6d8d782d5622

The MIL Network –
July 4, 2025
MIL-OSI: Gate Launches xStocks Trading Section, Bridging Crypto Finance and Global Capital Markets

Source: GlobeNewswire (MIL-OSI)

PANAMA CITY, July 03, 2025 (GLOBE NEWSWIRE) — In July 2025, Gate, a global leading digital asset trading platform, officially launched its xStocks trading section, covering both spot and futures markets. The initial listings include 8 popular tokenized stocks, such as COINX, NVDAX, CRCLX, AAPLX, METAX, HOODX, TSLAX, and GOOGLX, enabling global users to trade tokenized stocks directly with crypto assets like USDT. Gate Alpha has also rolled out support for xStocks, listing MSTRx, CRCLx, SPYx, NVDAx, TSLAx, and AAPLx, further expanding users’ access to on-chain assets and strategic trading options.

This initiative not only diversifies investment channels for crypto users but also marks a new phase in the convergence of crypto finance and traditional markets. Gate is now the first platform to launch a futures market for tokenized stocks, establishing a fully closed-loop trading infrastructure at the intersection of digital and traditional finance.

Removing Barriers: Connecting Global Users to Wall Street
Gate’s xStocks trading section adopts a compliant, asset-backed tokenization model. All tokens are fully collateralized and represent publicly traded U.S. stocks. These tokens are freely transferable and compatible across multiple blockchains and ecosystems.

Unlike traditional brokers that require regional accounts, complex KYC, and fiat settlement, Gate’s tokenized stocks services are globally accessible and require no KYC, allowing users to invest using USDT and other crypto assets. This borderless trading model significantly lowers entry barriers for global participants, offering a seamless path for cross-border capital movement and global portfolio allocation.

The platform also supports 24/7 trading, fractional investment, and on-chain liquidity, breaking down traditional time and regulatory constraints, and delivering a highly flexible, decentralized investment experience that links TradFi and DeFi.

World-First Futures Market for Tokenized Stocks, Redefining Derivatives Boundaries
As the first platform globally to launch the futures market for tokenized stocks, Gate enables users to apply leverage and execute two-way strategies on U.S. stocks, all under a USDT pricing system, empowering more dynamic risk and return management.

The trading infrastructure has been fully optimized for this launch, with upgrades to matching engines, pricing models, and risk control systems. Tailored to the liquidity profiles of U.S. stocks and the behavioral patterns of crypto-native traders, the system delivers high responsiveness, strong compatibility, and robust user experience across both spot and futures markets.

A Strategic Leap Toward the Next-Generation Crypto Exchange
Gate’s expansion into tokenized stocks represents a key milestone in its long-term strategy of bridging traditional and future finance. By building crypto-native infrastructure for traditional assets, Gate is redefining how users access and interact with global capital markets.

Dr. Han, Founder and CEO of Gate, stated: “Our mission isn’t just to add a new asset class, but to transform the relationship between users and assets. We aim to create a truly global, borderless investment platform that empowers everyone to access financial opportunities worldwide.”

In 2025, Gate completed a major brand upgrade and transitioned to the unified domain Gate.com, marking a new chapter in its global strategy. The platform currently ranks Top 2 globally in spot trading volume, with continued strength in derivatives, liquidity depth, and user activity, reinforcing its position as a leader in global crypto financial infrastructure.

As the digital transformation of global finance accelerates, Gate’s launch of tokenized stocks offers a model for the industry and demonstrates a pioneering approach to integrating decentralized infrastructure with traditional capital markets, propelling the platform toward its vision as the next-generation crypto exchange.

About Gate
Gate, founded in 2013 by Dr. Han, is one of the world’s earliest cryptocurrency exchanges. The platform serves over 30 million users with 3,600+ digital assets and pioneered the industry’s first 100% proof-of-reserves. Beyond core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, and other innovative solutions, while its global partnerships extend to top-tier sports brands like Oracle Red Bull Racing in F1 and Inter.

For more information, please visit: Website | X | Telegram | LinkedIn | Instagram | YouTube

Media Contact:
Loyo at loyo@gate.com

Disclaimer:
This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate may restrict or prohibit certain services in specific jurisdictions. For more information, please read the User Agreement via https://www.gate.com/user-agreement.

This content is provided by Gate. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/77167a8f-f56c-4c37-b465-3c8a89ac8047

The MIL Network –

July 4, 2025
MIL-OSI: Range Announces Conference Call to Discuss Second Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

FORT WORTH, Texas, July 03, 2025 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that its second quarter 2025 financial results news release will be issued Tuesday, July 22 after the close of trading on the New York Stock Exchange.

A conference call to review the financial results is scheduled for Wednesday, July 23 at 9:00 a.m. ET (8:00 a.m. CT). A webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company’s website until August 23, 2025.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

Range Investor Contacts:

Laith Sando, SVP – Corporate Strategy & Investor Relations
817-869-4267
lsando@rangeresources.com

The MIL Network –

July 4, 2025

MIL-OSI: Parex Resources Announces Production Update and Timing of Q2 2025 Results

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, July 03, 2025 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) announces a production update and plan to release its Q2 2025 financial and operating results on July 30, 2025.

Q2 2025 Production Update⁽¹⁾⁽²⁾

Estimated Q2 2025 average production was 42,550 boe/d.
June 2025 average production was approximately 43,950 boe/d; production growth was supported by previously disclosed positive exploration results and the successful startup of the first follow-up horizontal well at LLA-74 in the Southern Llanos.
In July 2025, the Company expects to ramp up production from its second follow-up horizontal well at LLA-74 and bring onstream the first well of the LLA-32 development campaign.

boe/d	For the three months ended June 30, 2025
Block LLA-34	21,500
Southern Llanos	13,800
Northern Llanos	4,000
Magdalena Basin	2,250
Natural Gas Production	1,000
Average Production	42,550

Monthly Production Breakdown⁽¹⁾⁽²⁾

boe/d	April 2025	May 2025	June 2025
Average Production	41,350	42,300	43,950

^{(1) See “Product Type Disclosure.”}
^{(2) Average production numbers are preliminary, subject to final reconciliation, and rounded for presentation purposes.}

Q2 2025 Conference Call & Webcast

Parex will host a conference call and webcast to discuss its Q2 2025 results on Wednesday, July 30, 2025, beginning at 9:30 am MT (11:30 am ET). To participate in the conference call or webcast, please see the access information below:

Conference ID:
Participant Toll-Free Dial-In Number:
Participant Dial-In Number:
Webcast:

5403995
1-646-307-1963
1-647-932-3411
https://events.q4inc.com/attendee/228530270

About Parex Resources Inc.

Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable, conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia. Parex shares trade on the Toronto Stock Exchange under the symbol PXT.

For more information, please contact:

Mike Kruchten
Senior Vice President, Capital Markets & Corporate Planning
Parex Resources Inc.
403-517-1733
investor.relations@parexresources.com

Steven Eirich
Senior Investor Relations & Communications Advisor
Parex Resources Inc.
587-293-3286
investor.relations@parexresources.com

NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES

Product Type Disclosure

Product Type	April 2025	May 2025	June 2025
Light & Medium Crude Oil (bbl/d)	10,803	10,193	10,976
Heavy Crude Oil (bbl/d)	29,761	31,089	31,811
Conventional Natural Gas (mcf/d)	4,721	6,115	6,978
Oil Equivalent (boe/d)	41,350⁽¹⁾	42,300⁽¹⁾	43,950⁽¹⁾

Product Type	For the three months ended June 30, 2025
Light & Medium Crude Oil (bbl/d)	10,662
Heavy Crude Oil (bbl/d)	30,899
Conventional Natural Gas (mcf/d)	5,941
Oil Equivalent (boe/d)	42,550⁽¹⁾

^{(1) Average production numbers are preliminary, subject to final reconciliation, and rounded for presentation purposes.}

Oil & Gas Matters Advisory

The term “Boe” means a barrel of oil equivalent on the basis of 6 thousand cubic feet (“mcf”) of natural gas to 1 barrel (“bbl”). Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 mcf: 1 bbl, utilizing a conversion ratio at 6 mcf: 1 bbl may be misleading as an indication of value.

Abbreviations

The following abbreviations used in this press release have the meanings set forth below:

bbl/d	barrels per day
boe/d	barrels of oil equivalent of natural gas per day
mcf/d	thousand cubic feet per day

PDF available: http://ml.globenewswire.com/Resource/Download/5c0587f6-47f0-4420-bfc6-31a2e9c7cdf2

The MIL Network –

July 4, 2025

MIL-OSI: Netcapital Announces Up To $9.9 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

Source: GlobeNewswire (MIL-OSI)

$5 million upfront with up to an additional $4.9 million of potential aggregate gross proceeds upon the exercise in full of short-term warrants

Boston, July 03, 2025 (GLOBE NEWSWIRE) — Netcapital Inc. (the “Company”) (NASDAQ: NCPL, NPCLW), a digital private capital markets ecosystem, today announced that it has entered into definitive agreements for the purchase and sale of 714,286 shares of common stock at a purchase price of $7.00 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue unregistered short-term warrants to purchase up to 714,286 shares of common stock at an exercise price of $6.88 per share that will be immediately exercisable upon issuance and will expire twenty-four months following the effective date of the registration statement covering the resale of the shares of common stock issuable upon exercise of the unregistered short-term warrants. The closing of the offering is expected to occur on or about July 7, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds to the Company from the offering are expected to be approximately $5 million, before deducting placement agent fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the unregistered short-term warrants, if fully-exercised on a cash basis, will be approximately $4.9 million. No assurance can be given that any of such unregistered short-term warrants will be exercised. The Company intends to use the net proceeds from the offering for the repayment of certain outstanding promissory notes and for general working capital purposes.

The common stock (but not the unregistered short-term warrants and the shares of common stock underlying the unregistered short-term warrants) described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-267921) that was declared effective by the Securities and Exchange Commission (the “SEC”) on October 26, 2022. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

The unregistered short-term warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying such unregistered short-term warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the unregistered short-term warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Netcapital Inc.

Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company’s consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company’s funding portal, Netcapital Funding Portal Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association. The Company’s broker-dealer, Netcapital Securities Inc., is also registered with the SEC and is a member of FINRA.

Forward Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events, including, but not limited to, statements relating to closing of the offering and satisfaction of closing conditions of the offering, the expected gross proceeds from the offering, the exercise of the unregistered short-term warrants prior to their expiration and statements regarding the anticipated use of proceeds from the offering, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor Contact

800-460-0815
ir@netcapital.com

The MIL Network –

July 4, 2025
MIL-OSI: Locafy Receives Nasdaq Notification Regarding Delayed Filing of Interim Financials

Source: GlobeNewswire (MIL-OSI)

PERTH, Australia, July 03, 2025 (GLOBE NEWSWIRE) — Locafy Limited (NASDAQ: LCFY, “Locafy” or the “Company”), a globally recognized leader in location-based digital marketing, today announced that on July 1, 2025, it received a notice from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(2) (the “Rule”), as the Company has not yet filed a Form 6-K containing an interim balance sheet and income statement as of the end of its second quarter ended December 31, 2024 (the “Filing”).

The Nasdaq notice has no immediate effect on the listing or trading of the Company’s securities. Under Nasdaq’s listing rules, the Company has 60 calendar days, or until September 1, 2025, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, it may grant an extension of up to 180 calendar days from the Filing’s original due date, or until December 29, 2025, for the Company to regain compliance.

Locafy is working diligently to complete the required filing and intends to submit a compliance plan within the required timeframe. There can be no assurance that the Company’s plan will be accepted or the Company will be able to regain compliance with the Rule.

About Locafy
Locafy (Nasdaq: LCFY, LCFYW) is a globally recognized software-as-a-service (SaaS) technology company specializing in local search engine marketing. Founded in 2009, Locafy’s mission is to revolutionize the US$700 billion SEO sector. The Company helps businesses and brands improve search engine relevance and visibility in proximity-based search through a fast, easy, and automated platform. For more information, please visit www.locafy.com.

Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “subject to”, “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions, or by discussions of strategy, although not all forward-looking statements contain these words and include, but are not limited to, the Company’s ability to regain and maintain compliance with the Nasdaq Capital Market’s continued listing requirements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 20-F, filed with the SEC on November 12, 2024, as amended, and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements

Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
(949) 574-3860
LCFY@gateway-grp.com

The MIL Network –

July 4, 2025
MIL-OSI: Skycorp Solar Group Announces Board Authorization for Solar Photovoltaic Power Plant Acquisitions and Development

Source: GlobeNewswire (MIL-OSI)

Ningbo, China, July 03, 2025 (GLOBE NEWSWIRE) — Skycorp Solar Group Limited (the “Company”) (NASDAQ: PN), a solar PV product provider engaged in the manufacture and sale of solar cables and solar connectors, today announced that its Board of Directors has unanimously passed a resolution authorizing the Company to pursue solar photovoltaic (“PV”) power plant acquisitions and development projects under a $150 million investment framework. This decision marks a pivotal step in the Company’s strategic expansion into renewable energy infrastructure, reinforcing its commitment to driving the global transition to clean energy.

The Company advises that acquiring and developing PV power plants involves inherent complexities that can extend execution timelines and introduce uncertainties regarding completion. Factors such as due diligence findings, regulatory approvals, and the progress of negotiations may delay or even terminate the transaction, potentially impacting its completion.

Guidelines for PV Power Plant Initiatives

The Company will conduct comprehensive due diligence on potential power plant targets, prioritizing verification of legal ownership, regulatory compliance, and asset quality to mitigate transactional risks.

All capital expenditure and fund allocations by the Company will be conducted in a cautious, incremental manner, ensuring alignment with its overall strategic priorities and financial capabilities. “The Board’s authorization reflects our confidence in solar PV infrastructure as a cornerstone of the global energy transition,” said Weiqi Huang, CEO of Skycorp Solar Group. “By combining technological expertise with disciplined financial oversight, we are looking forward to successful acquisitions in the future, which will enable us to capitalize on emerging market opportunities while delivering sustainable value for stakeholders. Meanwhile, this initiative underscores our commitment to expand from component manufacturing to full-scale renewable energy solutions.”

About Skycorp Solar Group Limited

Skycorp Solar Group Limited is a solar photovoltaic (PV) product provider focused on manufacturing and selling solar cables and connectors. Our operations are managed through our subsidiaries, including Ningbo Skycorp Solar Co., Ltd., in China.

The Company’s mission is to become a green energy solutions provider by utilizing solar power and delivering eco-friendly solar PV products. By leveraging the Company’s expertise in solar technologies and relationships with worldwide clients, it aims to expand offerings of solar PV products and energy solutions for enterprise customers. For more information, please visit: https://ir.skycorp.com/.

Forward-Looking Statement

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Skycorp Solar Group Limited
Cathy Li
Investor Relations
Email: ir@skycorp.com
Tel: +86 185 0252 9641 (CN)

WFS Investor Relations Inc.
Connie Kang
Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)

The MIL Network –

July 4, 2025
MIL-OSI: NIRI and Investor Relations Profession Recognized at Nasdaq and NYSE with Historic Dual Closing Bell Ceremonies

Source: GlobeNewswire (MIL-OSI)

PHILADELPHIA, July 03, 2025 (GLOBE NEWSWIRE) — NIRI: The Association for Investor Relations, together with The Philadelphia Chapter of NIRI marked a milestone for the investor relations (IR) profession by ringing the closing bells at both the Nasdaq and New York Stock Exchange on Monday, June 30, 2025. The simultaneous ceremonies celebrated the strategic role of investor relations professionals in progressing communications, confidence, and connection between companies and capital markets.

“NIRI sets the standard for excellence in the field and is proud to represent more than 1,500 member companies and over 12 trillion dollars in market capitalization,” said Matthew D. Brusch, NIRI President and CEO, and co-bell ringer at the NYSE. “These ceremonies spotlighted the progress achieved in advancing the investor relations profession and recognition of the impact and value the NIRI community and IR brings to the capital markets.”

This momentous and coordinated celebration was made possible with the leadership of our exchange hosts, Nasdaq’s Garrett Low, Senior Managing Director, Capital Access Platforms and NYSE’s Andrew Bjorkman, CETF, Director, Regional Head of Mid-Atlantic & Northwest and NIRI Philadelphia Board Vice President.

Lisa M. Caperelli, NIRI Board Director and Vice President of Sponsorships for NIRI Philadelphia, rang the closing bell at Nasdaq MarketSite in Times Square, and commented, “As IR professionals, we are the bridge between companies and the investment community — translating strategy into story, numbers into narrative, and volatility into vision. This day was a powerful celebration of the strategic value the investor relations profession delivers to shareholders.”

Nahla A. Azmy, President of NIRI Philadelphia, and co-bell ringer at the New York Stock Exchange, added, “It was an honor to represent NIRI Philadelphia and to share this historic bell closing event with our national colleagues. I am grateful to Nasdaq and NYSE for providing us the opportunity to showcase the energy and excellence that define our strong and resilient IR community.”

Highlights from the Bell Ceremonies below:

Bell Footage:

Nasdaq:

https://www.nasdaq.com/videos/niri-association-investor-relations-rings-nasdaq-stock-market-closing-bell

NYSE:

NIRI The Association for Investor Relations Rings The Closing Bell®

Media Coverage:

https://www.dropbox.com/scl/fo/3eh0w3l5d24f82v6b6spt/AMmfXrxLOaY2iHMziBwY_HA/25-6-30%20Close%20NET?rlkey=7a57pvfnugi78f7alui5q9zfo&subfolder_nav_tracking=1&st=9zxx6hxq&dl=0

Photos and videos courtesy of NYSE Group and Nasdaq. They do not recommend or endorse any investments, investment strategies, companies, products or services.

About the NIRI Philadelphia Chapter

NIRI Philadelphia, formed in 1971, is a professional association of investor relations officers, communicators, consultants and providers serving organizations in the Greater Philadelphia area. NIRI Philadelphia includes members from a variety of industries and market cap sizes who are responsible for communications between their organizations, the investing public, and the financial community. NIRI Philadelphia’s goal is to provide its members the resources needed to be strategic leaders in their organizations.

About NIRI: The Association for Investor Relations

Founded in 1969, NIRI is the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts, and other financial community constituents. NIRI is the largest professional investor relations association in the world with members representing over 1,500 publicly held companies and $12 trillion in stock market capitalization.

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1568f348-2944-4b1d-a7de-bcc72f4f0a16

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/ae437ae4-808d-4461-aac1-7c2e2fc83b50

https://www.globenewswire.com/NewsRoom/AttachmentNg/36cdfcd1-5120-4925-9b92-87a52d341b52

https://www.globenewswire.com/NewsRoom/AttachmentNg/385f28fc-f413-4018-9b55-bad2bee19e3c

https://www.globenewswire.com/NewsRoom/AttachmentNg/cb664f3a-625e-4214-ac78-4dddf5cf9053

https://www.globenewswire.com/NewsRoom/AttachmentNg/7c2aba6f-70fa-4cdf-8608-586a30202a42

https://www.globenewswire.com/NewsRoom/AttachmentNg/d2f9a484-87d5-479f-90e9-dfb57c1a9d3d

https://www.globenewswire.com/NewsRoom/AttachmentNg/2a59a70b-00eb-4e48-b06b-1766cd294d3b

https://www.globenewswire.com/NewsRoom/AttachmentNg/119296ca-df8c-4cc1-87b4-2a5c0e38e936

https://www.globenewswire.com/NewsRoom/AttachmentNg/d83861f2-e97e-45da-8483-5bdefc480989

The MIL Network –

July 4, 2025
MIL-OSI: AI Chip Market Set to Soar to US$ 229.08 Billion by 2032, Fueled by Robust 20.49% CAGR: AnalystView Market Insights
Source: GlobeNewswire (MIL-OSI)

San Francisco, USA, July 03, 2025 (GLOBE NEWSWIRE) — The Global AI Chip Market is undergoing a seismic transformation as artificial intelligence continues to redefine how businesses operate, devices interact, and societies function. With a projected market value of USD 229,083.24 million by 2032 and a robust compound annual growth rate (CAGR) of 20.49%, this sector stands at the intersection of deep tech and digital transformation.

At the heart of this momentum is a growing demand for purpose-built processing units capable of handling the high complexity of AI workloads. Traditional CPUs, once the backbone of computing, are being outpaced by AI chips such as GPUs, ASICs, FPGAs, and NPUs—designed to deliver faster computation, lower latency, and greater energy efficiency. These chips are now indispensable across sectors—from autonomous driving and industrial automation to smart consumer devices and medical diagnostics. The market’s evolution is not just driven by technological necessity but also by strategic shifts. Governments and enterprises alike are pouring resources into building resilient AI infrastructure, with the AI chip serving as the core enabler of scalable, real-time intelligence. As AI moves from concept to implementation across industries, the demand for high-performance computing is accelerating, and so is the AI chip ecosystem.

Get a Sample Report of AI chip market @ https://www.analystviewmarketinsights.com/request_sample/AV4081

Technology at the Core: What Makes AI Chips Different?

AI chips are not just faster processors—they are purpose-engineered to manage billions of computations per second across neural networks. These tasks include matrix multiplications, data vectorization, and parallel execution, which are essential for AI functions like deep learning, natural language processing (NLP), and computer vision.

Unlike general-purpose CPUs, AI chips can execute these complex operations with higher efficiency, enabling near-instant responses in applications such as voice assistants, facial recognition, and real-time translation. For cloud computing platforms and edge devices, these chips provide the processing muscle required for AI algorithms to function seamlessly at scale.

Key Drivers Behind Market Growth
1. Industrial AI Integration
  Businesses across manufacturing, logistics, retail, and energy are rapidly incorporating AI for predictive analytics, process automation, and intelligent decision-making. AI chips empower these systems to function in real time, transforming operational agility and accuracy. Over 70% of businesses in manufacturing and logistics are adopting AI to enhance efficiency and decision-making.
2. Surge in Edge AI Devices
  The demand for localized, low-latency AI processing is pushing AI chip deployment to the edge—embedded in mobile phones, drones, surveillance cameras, and autonomous vehicles. This shift to edge computing is minimizing reliance on cloud infrastructure and enabling real-time decision-making.
3. Governmental Support and Funding
  Global investments in AI R&D and chip manufacturing are expanding at a record pace. For instance, the U.S. CHIPS Act and China’s “AI 2030” initiative are fueling domestic innovation. Europe, too, is actively funding AI research with an eye on digital sovereignty.
4. AI-Powered Consumer Products
  From smart speakers to fitness trackers and home automation, AI chips are embedded in everyday consumer electronics. Their capability to support machine learning in real-time makes them vital for user personalization and seamless functionality.
5. Data Center Expansion and Cloud AI
  Cloud service providers like AWS, Microsoft Azure, and Google Cloud are equipping their data centers with AI accelerators to meet surging demand for model training and inference workloads. AI chips are pivotal in reducing power consumption while improving performance in such environments.
MARKET KEY PLAYERS:
- Advanced Micro Devices
- Amazon
- General Vision
- Google
- Gyrfalcon Technology
- Huawei Technologies
- IBM
- Infineon Technologies
- Intel
- Kneron
- Microsoft
- MYTHIC
- Nvidia
- NXP Semiconductors
- Qualcomm Incorporated
- Samsung Electronics
- Toshiba
- Wave Computing
- Apple INC.
- Others
Market Challenges: Risks Alongside Opportunities

Despite its bullish outlook, the AI chip market faces several critical challenges:
- Security and Privacy Concerns: As AI becomes deeply integrated into critical systems, safeguarding data integrity and user privacy is more important than ever. Misuse or vulnerability in AI processing hardware can have serious implications.
- Supply Chain Disruptions: Global chip shortages and reliance on a few key semiconductor foundries have exposed vulnerabilities in the supply chain. Geopolitical tensions further compound this risk.
- High R&D and Manufacturing Costs: Developing next-gen AI chips demands significant capital and technical expertise. Startups may face high entry barriers due to the dominance of large corporations with established IP and fabrication capabilities.
TABLE OF CONTENT

1. AI Chip Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. AI Chip Market Snippet by Product Type
2.1.2. AI Chip Market Snippet by Technology
2.1.3. AI Chip Market Snippet by Application
2.1.4. AI Chip Market Snippet by Function
2.1.5. AI Chip Market Snippet by End User
2.1.6. AI Chip Market Snippet by Country
2.1.7. AI Chip Market Snippet by Region
2.2. Competitive Insights
3. AI Chip Key Market Trends
3.1. AI Chip Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. AI Chip Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. AI Chip Market Opportunities
3.4. AI Chip Market Future Trends
4. AI Chip Industry Study
4.1. PEST Analysis
4.2. Porter’s Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis ….

Regional Outlook: Asia-Pacific Leads the Way

The Asia-Pacific region dominates the global AI chip market and is projected to maintain its lead throughout the forecast period. Countries like China, South Korea, Taiwan, and Japan are investing heavily in AI education, R&D, and semiconductor infrastructure. The region also benefits from a strong electronics manufacturing ecosystem and rising demand for AI-enabled consumer and industrial products.

North America, home to major AI and semiconductor companies, remains a critical hub for innovation. The region sees significant investment in cloud data centers, autonomous driving, and AI-driven healthcare systems.

Europe is focusing on building ethically aligned and sustainable AI ecosystems. With a strong emphasis on regulations and cross-border collaboration, the region is shaping a trustworthy AI framework—favorable for long-term growth.

Competitive Landscape: Innovation Fuels Competition

The AI chip market is fiercely competitive, marked by rapid innovation, M&A activity, and strategic partnerships. Key players include:
- Nvidia: Leading the GPU segment, with powerful AI platforms like the A100 and H100 chips.
- Intel: Diversifying through acquisitions and offering a mix of CPUs, FPGAs, and specialized AI processors.
- AMD: Gaining momentum with powerful multi-core GPU architectures for AI workloads.
- Google: Driving cloud AI performance through its custom Tensor Processing Units (TPUs).
- Apple: Integrating neural engines directly into its mobile chips for on-device intelligence.
- Startups: Firms like Kneron, MYTHIC, and Graphcore are disrupting the market with domain-specific AI accelerators.
Companies are steadily shifting to hybrid infrastructures that blend cloud and edge computing, emphasizing energy-efficient, scalable architectures seamlessly integrated with AI software ecosystems.

The industry presents a high-growth opportunity driven by surging demand for hybrid AI infrastructure. Investors should focus on companies innovating in energy-efficient AI chipsets optimized for edge-cloud synergy. Priority targets include firms with robust AI software stack partnerships and IP portfolios in low-power, high-performance chips—especially in sectors like automotive, industrial automation, and next-gen robotics.

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The MIL Network –
July 4, 2025
MIL-OSI Economics: Sri Lanka: Fourth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Waiver of Applicability of Performance Criteria, Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka

Source: International Monetary Fund

International Monetary Fund. Asia and Pacific Dept “Sri Lanka: Fourth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Waiver of Applicability of Performance Criteria, Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka”, IMF Staff Country Reports 2025, 162 (2025), accessed July 3, 2025, https://doi.org/10.5089/9798229016360.002

MIL OSI Economics –

July 4, 2025
MIL-OSI United Kingdom: Annual Report celebrates Significant Progress in key priorities

Source: City of Derby

Derby City Council’s latest Annual Report will be presented to Cabinet on Wednesday 9 July, showcasing a year of achievements across the city’s five priority themes: Green, Growth, Resilient, Vibrant, and Working Smarter.

The report, covering performance and delivery from April 2024 to March 2025, highlights key successes that are making Derby a more sustainable, prosperous, and vibrant place for our residents.

We’ve made big strides in our commitment to become a better-connected, greener city. Our Transforming Cities programme has championed efficient and active travel, delivering new and renewed cycle pathways, traffic signals and carriageways. We’ve also upgraded 5,560 streetlights to energy-efficient LEDs, saving an estimated 329 tonnes of carbon emissions annually.

Our green spaces continue to be high quality places for our residents to enjoy, with six city parks retaining the prestigious Green Flag status. Working with Derbyshire Wildlife Trust, we’ve also reintroduced cattle to three of our locations in the winter months to improve biodiversity and keep them in the best condition.

The Growth theme has seen significant support for local businesses and the creation of future job opportunities. Aided by the UK Shared Prosperity Fund we have worked with partners to support 761 Derby businesses, while Council interventions have generated an impressive £30.7m of investment in the city.

Investing in Derby’s future workforce is a priority, as demonstrated by the Derby Promise initiative. We’ve seen over 3,100 individuals enrolled in community and skills programme delivered by the Derby Adult Learning Service, continuing our focus on lifelong learning and raising aspirations and opportunities for our people of all ages in Derby.

Looking ahead, we’re also actively collaborating with the Great British Railways Transition Team and the East Midland’s Mayor to develop a shared vision for a Derby Rail Campus, boosting the city’s vital rail sector.

Over the past year, culture has been placed firmly at the heart of our increasingly vibrant city. Spring 2025 saw the opening of two major leisure and culture destinations: Vaillant Live and Derby Market Hall. The city also hosted a diverse mix of events, including St George’s Day and Festive Derby, and the record-breaking Darley Park Weekender, which generated over £1m for the local economy.

Under the Resilient theme, the Council has focused on supporting residents to get on in life and ensuring the right care is available, at the right time. In 2024/25, some of our most vulnerable people were supported to remain in a place they call home. This includes 86.6% of adults with a Learning Disability, 91.6% of adults in contact with secondary mental health services, and 79.5% of older people within 91 days of being discharged from hospital following rehabilitation.

Thanks to collaborative efforts with our partners, 45,000 visits were made to our Family Hubs, where a range of services are provided. This contributed to a reduction in the number of families assessed as ‘child in need’ and a decrease in the number of children in care.

Councillor Nadine Peatfield, Leader of Derby City Council, said:

2024/25 was a very busy period for our city, and we saw big strides made in our journey to make Derby a city we can all be proud of. While the hard work continues, this report shows that we are heading in the right direction.

This is also a great opportunity to recognise the commitment and achievement of our colleagues in 2024/25. They continually go above and beyond to deliver the best outcomes for the people of Derby, despite the ongoing challenges facing local government. I want to place on record my thanks to them for all they have done and will continue to do as we press on into 2025/26.

MIL OSI United Kingdom –

July 4, 2025
Centre to convene all-party meeting on July 19 ahead of Monsoon Session

Source: Government of India

Source: Government of India (4)

The Central government will convene an all-party meeting on July 19, ahead of the Monsoon Session 2025, said Union Parliamentary Affairs Minister Kiren Rijiju on Thursday.

Rijiju said, “The central government called an all-party meeting on July 19 regarding the monsoon session of Parliament. The monsoon session of Parliament is starting from July 21 and will run till August 21.”

The Monsoon Session of Parliament will be held from July 21 to August 21. There will be no Parliament sittings on August 13 and 14 due to Independence Day celebrations.

Earlier in a post on X, Union Minister Kiren Rijiju wrote, “The Hon’ble President of India has approved the proposal of the Government to convene the Monsoon Session of Parliament from 21st July to 21st August, 2025. In view of the Independence Day celebrations, there will be no sittings on the 13th and 14th of August.”

This comes amid the demand by Opposition leaders to convene a special session of Parliament upon the arrival of all-party delegations to discuss various issues, especially the developments that followed the ghastly Pahalgam terrorist attack.

The upcoming Monsoon session will be the first Parliament session following Operation Sindoor, which was launched by India on May 7 in response to a terror attack in Jammu and Kashmir’s Pahalgam, which claimed 26 lives.

The Budget session of Parliament began on January 31 this year. The Budget Session saw the passage of significant legislation, including Waqf Amendment Bill.

Rijiju held a press conference after the end of the Budget Session, informing that the first part of the Budget Session yielded a total of 9 sittings of Lok Sabha and Rajya Sabha. In the second part of the Session, there were 17 sittings of both Houses. During the entire Budget Session, in total, there were 26 sittings.

During the second part of the Session, Demands for Grants of individual Ministries of Railways, Jal Shakti and Agriculture & Farmers Welfare were discussed and voted in Lok Sabha. In the end the Demands for Grants of the remaining Ministries/ Departments were put to the Vote of the House on Friday, the 21st of March, 2025. The related Appropriation Bill was also introduced, considered and passed by Lok Sabha on 21.03.2025 itself.

Appropriation Bills relating to Second and Final Batch of Supplementary Demands for Grants for the year 2024-25; Excess Demands for Grants for the year 2021-22 and Supplementary Demands for Grants of Manipur for the year 2024-25 and Demands for Grant on Account for the year 2025-26 in respect of the State of Manipur were also passed on 11.03.2025 in Lok Sabha.

The Finance Bill, 2025 was passed by Lok Sabha on March 25.

In the Rajya Sabha the working of the Ministries of Education, Railways, Health & Family Welfare and Home Affairs were discussed.

(ANI)

July 4, 2025

MIL-OSI Russia: IMF Executive Board Completes the Fourth Review Under the Extended Fund Facility with Sri Lanka

Source: IMF – News in Russian

July 3, 2025

The IMF Executive Board completed the Fourth Review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with immediate access to SDR 254 million (about US$350 million) to support Sri Lanka’s economic policies and reforms.
Performance under the program has been generally strong with some implementation risks being addressed. Prior actions on restoring cost-recovery electricity pricing for the rest of 2025 and operationalizing automatic electricity tariff adjustment were met. All quantitative targets for end-March 2025, except the stock of expenditure arrears, were met. All structural benchmarks due by end-May 2025 were either met or implemented with delay. 2025Q2 inflation fell below the lower outer band of the Monetary Policy Consultation Clause largely due to energy prices. Debt restructuring is nearly complete.
The economic outlook remains positive. However, global trade policy uncertainties pose significant risks to Sri Lanka’s macroeconomic and social stability. If these shocks materialize, the authorities will work closely with staff to assess the impact and formulate policy responses within the contours of the program.

Washington, DC: On July 1, 2025, the Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR254 million (about US$350 million). This brings the total IMF financial support disbursed so far to SDR1.27 billion (about US$1.74 billion).^[1]

The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023 (see Press Release No. 23/79) in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The program supports Sri Lanka’s efforts to durably restore macroeconomic stability by (i) restoring fiscal and debt sustainability while protecting the vulnerable, (ii) safeguarding price and financial sector stability, (iii) rebuilding external buffers, (iv) strengthening governance and reducing corruption vulnerabilities, and (v) enhancing growth-oriented structural reforms.

The Executive Board reviewed a report from the Managing Director on the inadvertent provision of inaccurate data by Sri Lanka on the ceiling of the central government’s stock of expenditure arrears. The under-reporting of the arrears stock identified through a detailed analysis of budget line appropriations gave rise to noncomplying purchases and a breach of Sri Lanka’s obligations under Article VIII, Section 5. The authorities have worked openly and closely with IMF staff to provide corrected data and have undertaken several corrective measures related to the clearing and reporting of arrears. They are also committed to improving reporting and data verification practices going forward in line with IMF technical assistance. Based on these actions, the Executive Board approved the authorities’ request for waivers of non-observance.

The authorities have consented to the publication of the Staff Report prepared for this consultation.^{^[2]}

Following the Executive Board’s discussion, Mr. Kenji Okamura, Deputy Managing Director and Acting Chair, issued the following statement:

“Sri Lanka’s performance under the Fund-supported arrangement is generally strong with some implementation risks being addressed. Reforms are bearing fruit, with economic growth strengthening, inflation remaining low, reserves accumulating, and fiscal revenues improving. The debt restructuring process is nearing completion. The economic outlook is positive, but downside risks have increased. In case shocks materialize, the authorities should work closely with the Fund to assess the impact and formulate policy responses within the contours of the program. Steadfast program implementation will be crucial.

“Sustained revenue mobilization is critical to restoring fiscal sustainability and creating fiscal space. Strengthening tax exemption frameworks, boosting tax compliance, and enhancing public financial management to ensure effective arrears management are important. Further improving the coverage and targeting of social support to the vulnerable is also necessary. A smoother execution of capital spending within the fiscal envelope would help foster medium-term growth. The restoration of cost-recovery electricity pricing and the operationalization of automatic electricity tariffs adjustment are commendable and should be maintained to contain fiscal risks.

“The progress to advance the restructuring of Sri Lanka’s debt is noteworthy. Timely finalization of bilateral agreements with remaining official and commercial creditors is a priority.

“Monetary policy should continue to prioritize price stability, supported by sustained commitment to eliminate monetary financing and safeguard central bank independence. Greater exchange rate flexibility and gradually phasing out administrative balance of payments measures remain critical to rebuild external buffers and economic resilience.

“Resolving non-performing loans, strengthening governance and oversight of state-owned banks, and improving the insolvency and resolution frameworks are important to revive credit growth and support private sector development.

“Structural reforms are crucial to unlock Sri Lanka’s potential. The government should continue to implement governance reforms and advance trade-facilitation reforms to boost export growth and diversification.”

Following the Executive Board’s discussion, Mr. Kenji Okamura, Deputy Managing Director and Acting Chair, issued the following statement:

“The Executive Board of the International Monetary Fund (IMF) reviewed noncomplying purchases made by Sri Lanka under the 2023 Extended Arrangement under the Extended Fund Facility (“EFF”), as well as a breach of obligations under Article VIII, Section 5. The noncomplying purchases arose as a result of the provision of inaccurate information by the authorities on the stock of expenditure arrears at the first, second, and third reviews under the EFF.

“The inaccuracies in information provided to the IMF were inadvertent and arose because of weaknesses in the timely reporting of arrears by line ministries to the Ministry of Finance, as well as a misunderstanding by the authorities of the definition of “arrears” under the Technical Memorandum of Understanding.

“The Executive Board positively considered the authorities’ corrective actions, the fact that arrears repayments will be accommodated within the existing fiscal envelope, and the authorities’ commitment to improving public financial management procedures in line with the new PFM law, to reduce the risk of accruing arrears or inaccurate reporting of information going forward. In view of the above, the Executive Board agreed to grant waivers for the nonobservances of the quantitative performance criterion that gave rise to the noncomplying purchases and decided not to require further action in connection with the breach of obligations under Article VIII, Section 5.”

Sri Lanka: Selected Economic Indicators 2024-2030

		2024		2025		2026	2027
		Est.		Projections

GDP and inflation (in percent)
Real GDP			5.0	3.5		3.1	3.1
Inflation (average) 1/			1.2	3.3		5.2	5.0
Inflation (end-of-period) 1/			-1.5	8.9		5.2	5.0
GDP Deflator growth			3.8	3.6		5.3	5.1
Nominal GDP growth			9.0	7.1		8.5	8.4

Savings and investment (in percent of GDP)
National savings			25.2	21.8		22.2	22.9
Government			-3.2	-2.0		-0.8	-0.1
Private			28.4	23.8		23.0	23.0
National investment			27.0	21.8		22.1	22.5
Government			5.0	4.3		4.5	4.6
Private			21.9	17.4		17.6	17.9
Savings-Investment balance			-1.8	0.0		0.1	0.4
Government			-8.2	-6.3		-5.3	-4.6
Private			6.4	6.4		5.4	5.1

Public finance (in percent of GDP)
Revenue and grants			13.7	15.0		15.2	15.3
Expenditure			19.3	20.5		19.7	19.2
Primary balance			2.2	2.3		2.3	2.3
Central government balance			-5.6	-5.4		-4.5	-3.9
Central government gross financing needs			21.9	22.6		19.6	14.9
Central government debt			100.5	105.1		103.4	100.2
Public debt 2/			105.2	109.6		107.4	103.6

Money and credit (percent change, end of period)
Reserve money			15.8	6.5		8.5	8.4
Broad money			8.6	6.5		8.5	8.4
Domestic credit			4.0	4.5		3.0	3.8
Credit to private sector			10.7	9.4		9.2	9.3
Credit to private sector (adjusted for inflation)			9.5	6.1		4.1	4.3
Credit to central government and public corporations			-1.4	0.0		-3.3	-2.5

Balance of Payments (in millions of U.S. dollars)
Exports			12,772	12,880		13,490	14,194
Imports			-18,828	-21,363		-22,447	-23,578
Current account balance	1,746				-48	-77		-439
Current account balance (in percent of GDP)	1.8				0.0	-0.1		-0.4
Current account balance net of interest (in percent of GDP)	3.7				2.1	2.0		1.7
Export value growth (percent)	7.2				0.8	4.7		5.2
Import value growth (percent)	12.0				13.5	5.1		5.0

Gross official reserves (end of period)
In millions of U.S. dollars	6,122				7,255	9,273		12,974
In months of prospective imports of goods & services	3.0				3.3	4.0		5.4
In percent of ARA composite metric	50.5				60.3	75.5		100.0
Usable Gross official reserves (end of period) 3/
In millions of U.S. dollars	4,686				7,255	9,273		12,974
In months of prospective imports of goods & services	2.3				3.3	4.0		5.4
In percent of ARA composite metric		38.6		60.3		75.5	100.0
External debt (public and private)
In billions of U.S. dollars		53.9		54.6		56.3	59.9
As a percent of GDP		54.4		55.1		58.6	59.4

Memorandum items:
Nominal GDP (in billions of rupees)		29,899		32,036		34,754	37,664
Exchange Rate (period average)		302.0		…		…	…
Exchange Rate (end of period)		293.0		…		…	…
Sources: Data provided by the Sri Lankan authorities; and IMF staff estimates. 1/ Colombo CPI. 2/ Comprising central government debt, publicly guaranteed debt, and CBSL external liabilities (i.e., Fund credit outstanding and international currency swap arrangements). The debt statistics currently assume the external debt restructuring to have been completed at end 2023. 3/ Excluding PBOC swap ($1.4bn in 2022) which becomes usable once GIR rise above 3 months of previous year’s import cover.

[1] SDR figures are converted at the market rate of U.S. dollar per SDR on the day of the Board approval.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Randa Elnagar

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

https://www.imf.org/en/News/Articles/2025/07/02/pr24235-sri-lanka-imf-executive-board-completes-the-fourth-review-under-the-eff

MIL OSI

MIL OSI Russia News –

July 4, 2025

MIL-OSI United Kingdom: Suspected people smuggling gang taken down in nationwide strikes
Source: United Kingdom – Government Statements

Press release

Suspected people smuggling gang taken down in nationwide strikes

Seven members of a suspected organised crime group believed to have made millions have been arrested in West Yorkshire and Essex.
A suspected people-smuggling gang has been arrested for allegedly using false identity documents to smuggle hundreds of people into the UK illegally, luring them into a life of exploitation and misery.

On Tuesday 1 July, Immigration Enforcement officers executed warrants in Greater London, and Batley, West Yorkshire and arrested 7 suspects. The targets are believed to have used forged passports and visas of people with legitimate status in the UK to facilitate their illegal arrival, and subsequent employment in black market businesses.

The gang is believed to have facilitated the illegal entry of over 500 people with no right to be in the UK.

Their alleged money-grabbing scheme is believed to have developed into a wide-scale, dangerous criminal network operating across the country, with the 5 men and 3 women believed to have sent fake documents to beneficiaries to evade detection from law enforcement. The gang, who largely targeted Gambian nationals, are also suspected of re-using the fraudulent documents for different imposters hoping to make it to the UK illegally, with an ongoing investigation revealing a substantial quantity of images of passports found on the main suspect’s mobile phone.

From booking flights to housing the migrants on arrival and providing them with illegal work, the gang provided a full service and charged around £5,000 per person.

This particular gang, like many others, is believed to be charging substantial fees for arranging illegal entry to the UK, with the main suspect believed to have a turnover of over £1.3m in his bank account despite claiming to only earn £35,000 a year working for a furniture manufacturing company.

Another suspect is believed to have a turnover of over £1m across two bank accounts whilst simultaneously receiving Universal Credit. A further investigation will be launched in order to recover the profits made by this suspected organised criminal gang.

At the various addresses visited, officers seized several counterfeit identity documents which are believed to have been used in this criminal scheme.

These arrests form part of this government’s Plan for Change to strengthen the UK’s border security, which is already delivering results, with almost 30,000 people with no right to be here returned since the election and a turbocharge in immigration enforcement activity across the country which has led to a 51% increase in the number of illegal working arrests.

Organised criminal gangs who are driven by profit often go to extreme lengths to make their cash, disregarding the safety of humans. The suspects in this case are believed to have been exploiting those they promised to help by forcing them to work in private homes under their control, leaving the survivors trapped in unsafe situations and exhausted for little or no pay.

Minister for Border Security and Asylum, Dame Angela Eagle said:

This operation is a clear display that we will not stand by and let evil criminal gangs abuse our immigration system.

This suspected gang promised their beneficiaries a better life here in the UK. Instead, they face heinous levels of exploitation which is exactly why we are working with law enforcement to ensure survivors of modern slavery are supported and the criminal gangs face justice.

Our Border Security Command has £280m of additional funding over the next 4 years to deliver the step-change required to break their business models and deliver our Plan for Change to restore order to the immigration system.

Ben Ryan, Chief Operating Officer at Medaille Trust, said:

Medaille Trust is delighted to have collaborated on this operation and to have played a part in ensuring that victims were identified and supported to begin their recovery as survivors.

We believe that collaborative efforts like this between the Home Office and civil society provide a model for confronting the evils of modern slavery; with a focus on both pursuing abusers and recognising and supporting survivors.

The Home Office’s Criminal Financial Investigations team works closely with charities like Medaille Trust to support the victims of organised crime by keeping them at the heart of any investigation, providing invaluable expertise and support to the most vulnerable. Through closer collaboration we are able to identify victims and offer them a safe haven to come forward about the abuse they have faced. Medaille Trust provide refuge and freedom from modern slavery and are one of the largest providers of supported safe house beds for victims of modern slavery in the UK.

Cracking down on abuse of the immigration system is central to securing the UK’s borders. As set out in the Immigration White Paper in May, the government will introduce tighter controls, restrictions, and scrutiny of those who attempt to abuse and misuse the immigration system. This includes strengthening border security by rolling out digital identity for all overseas citizens through the implementation of eVisas and new systems for checking visa compliance.

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Published 3 July 2025
MIL OSI United Kingdom –
July 4, 2025
MIL-OSI United Kingdom: Local Government Association Conference 2025

Source: United Kingdom – Executive Government & Departments

Speech

Local Government Association Conference 2025

A speech from the Deputy Prime Minister at the Local Government Conference.

Can I just start by saying how proud I am to be back here in Liverpool.

And I’m sure you’ve all heard the devasting news this morning about the tragic loss of legend Diogo Jota.

I know everyone here, his fans and the city of Liverpool will be heartbroken by this news.

My thoughts are with his family at this saddened time.

It’s a pleasure to look out at a room full of people dedicated to serving the communities that you represent.

From Barnsley to Barrow – Cornwall to Cheshire…

Councillors and mayors are delivering day-in, day-out for local people right across our country.

I know how hard you work

I know the difference you make

I’m for local government because I’m from local government.

And yes, I wasn’t a councillor. But as a home help and a carer I was on the front line delivering local services.

And as a union rep, I worked with the leadership of a council to transform the service I worked in, for the good of the people that we served.

And as a young mum, facing low pay and insecure hours without much of a safety net, it was the Sure Start centre and the council home that helped me turn my life around.

The services that you deliver every single day changes lives

And I say that not just as the Deputy Prime Minister, but as someone whose own life was changed by local government

It’s why, in me, you will always have a Secretary of State that sees you as a partner, and not a punchbag.

And Conference, it may not surprise you to know – but I’m not a patient person.

I’ve been restless for 14 years.

I’m restless to give local people a stronger voice.

I’m restless to put decision-making in the hands of the people who know best.

I’m restless to restore local government and provide the change that we were elected to deliver.

Because I know how hard it has been

How it feels at the sharp-end at local government level

That’s why every single day in Westminster I’m fighting to turn that around

To put power back in your hands, and deliver for communities the length and breadth of Britain.

So – almost 12 months ago from the General Election, what have we delivered?

Just last month, in the Spending Review we announced five billion pounds of new funding for local services.

New funding means an 8% increase in Government funded spending power in the next four years compared to a reduction of 24% in the first four years of the last government.

We’ve delivered a £4 billion uplift to adult social care

alongside a targeted recovery grant of £600m for the areas most in need

we doubled the direct investment in preventative children’s social care services.

and provided a record £1.6bn for local road maintenance, enough to fill an extra 7 million potholes over the next year. I knew that would wet your whistle.

And an uplift for every single local highway authority.

We have refused to repeat the mistakes of the past which took the axe to your budgets, and left our communities to pay the price

You made the case for local government, and we listened.

That’s why we’re rolling back the era of micromanagement too, with simpler funding, and a rapid consolidation of your Finance Settlement.

We are handing you the freedom and flex to meet local needs without needing to get sign off from central government for the most minor change.

And right now, the paperwork you’re asked to fill out for micro-managed funds every year would stretch from here to the West side of Wirral!

There’s no justification for that – so we’re cutting it down

Meaning that you can focus on your priorities, not filling out forms.

And with more flexible funding, we’re giving you the opportunity to work more collaboratively including through new pilots so councils and mayors can pool budgets and do joined-up services, learning the lessons of projects like Total Place – the last Labour government’s pioneering reform programme.

Because we know every ambition of this government requires an active, empowered and strong local government.

And we were elected to bring change, and that change can only be achieved in partnership with you.

Nowhere is that more obvious than housing.

None of our ambitions are possible without the support and the expertise of people here today.

And the extraordinary examples of so many leaders in this room have inspired us to go further and faster.

Right here in Liverpool, under the leadership of Council leader Liam Robinson and the Mayor Steve Rotheram, this great city is going from strength to strength.

You only have to look at the incredible regeneration of the Liverpool Waters district – not too far from here, with new funding unlocking around 2,350 new homes.

Now Liam said the Central Docks could act as a “beacon for what housing developments in the 21st century can and should be”.

It’s hard to argue with that.

But you know – and I know – you need a government that matches your ambition.

And that’s why I am so proud to say that just last month we announced the biggest increase in the social and affordable homes budget for a generation!

Our historic £39 billion of new Social and Affordable Homes Programme aims to deliver around 300,000 new homes with at least 60% for social rent.

This is a personal priority not just for me, but for the whole of this Government.

And I say that, in the context of 160,000 children that are growing up in temporary accommodation

When a million are living their lives on social housing waiting lists, no government should sit back whilst people live their lives in limbo.

So through investment and reform, this government is backing councils and the whole social housing sector to deliver council housing.

That means a brighter future where families aren’t trapped in temporary accommodation and young people are no longer locked out of a secure home.

And we’re giving the sector certainty in other areas too.

A ten-year rent settlement, consulting on how to implement rent convergence,

Giving social landlords equal access to the building safety funds – for the first time ever

And in the Autumn, we’ll confirm our approach to help councils to borrow from the Public Works Loan Board.

And on top of this, we’re also committed to reforming the support given for skills capacity with a new Council Housebuilding Skills & Capacity Programme

And that will be a partnership between the LGA and Homes England – backed by £12 million in funding – and it will also help you get the skilled staff you need to build.

And the scale of this challenge means we all need to play our part.

Local authorities, housing associations, investors, developers, housebuilders, and regulators are all vital to help us reset social housing – so that it’s treated, once again, as the national asset that it is.

Now, taken together with our bold planning reforms, the new National Housing Bank and the billions we’re putting into transport and infrastructure

there’s a real opportunity here for councils.

Opportunity not just to build the decent, and secure homes that working people so desperately need, but to build stronger communities at scale and at pace.

Our goal of delivering 1.5 million homes will only be met by building affordable homes, with councils in the driving seat.

We want our new Programme to be a game-changer.

We’re setting a target which is six times more than were built in the last decade.

The truth is for too long, the potential of what local government can achieve has been underestimated by Whitehall.

Our government was elected to deliver change, and I know how fundamental you all are to delivering that.

But you’re all having to work within a broken system.

You’ve been left unequipped to deliver what is being expected of you.

And despite the huge sums that you’re spending on public services

On adult Social Care

Children’s Social Care

SEND

and temporary accommodation

I’m hearing loud and clear from you all, that these services are still not working for the people who need them.

And the truth is that Westminster just hasn’t kept its side of the bargain.

Public services need reform, and the onus is on us to work with you to deliver it.

And that is why I am here today to fire the starting gun on a new way of working with you to deliver the reforms we know are needed.

First, we are today announcing a fundamental shift, to radically simplify the funding and reporting regime that underpins your work.

Through a new Local Government Outcomes Framework, we will move together to a completely new way of measuring performance.

And this will be focused on delivering what we know matters most.

Outcomes like kids learning to read and write

people living healthier lives for longer

and communities feeling safe.

It brings everything in line with the government’s broader Missions and the Plan for Change

And means prioritising the long term, instead of getting caught up in the nuts and bolts.

The aim is that it frees you up to deliver meaningful outcomes

And facilitates a shift towards prevention.

But I know that we don’t have all the answers

So my promise to you, is that if you come with a new way of delivering a service and it shows results, we will work with you to pursue it.

The micromanagement of previous governments failed

It wasted taxpayers’ money, and got us into the mess we’re in now.

We can all recognise there are times when governments have to step in

And make no mistake, that I’m still prepared to intervene where there is failure to deliver

But it has to be by the book – and we can’t have a ‘Westminster knows best’ attitude.

That is why we’re putting together a clear menu of actions of how government will respond where services are failing.

I want everyone to know where they stand so concerns and weaknesses can be picked up before they become a crisis.

And I’m committed to writing this with the sector, to get this right the first time.

There’s real urgency to this – so to the Chief Executives and the Council Leaders here today

Keep an eye on your inbox, because straight after this speech today, you’ll be receiving details of how to get involved.

Now everyone in the room knows that ending Whitehall micro-management also means sorting out the spaghetti soup of obligations facing local government.

That’s why, alongside our new Outcomes Framework, we’ll be launching a comprehensive review to ensure unnecessary regulations and needless asks from government aren’t getting in the way of you serving your communities.

We will harness the Government’s AI team to unlock efficiencies.

And work lock step with the LGA so we get it right.

So, that’s two fundamental shifts in the way this government is doing business with local leaders.

And we won’t stop there.

Money is understandably at the forefront of everyone’s minds in this room.

You watched as your communities were unfairly short-changed for too long.

So that’s why – my third pledge – is to make good on a promise I made countless times in Opposition.

A promise to fund councils on the basis of need.

The last government promised a Fair Funding Review back in 2016, they recognised how outdated and unfair the funding process was back then.

[Political content removed]

But not under my watch.

Anyone who knows me, knows I don’t make promises that I can’t keep!

I listened to the people in this room calling for government funding to recognise the unique challenges of their place

whether that be rising temporary accommodation or even the pressure caused by huge footfall in coastal communities on the weekends.

Many of you – including our colleague, the Minister for Local Government – campaigned for this change for decades.

And this government will waste no time in delivering it.

We will implement a Fair Funding Review.

And yes, that’s the full-fat version!

Jim and I will make no apology for this.

Government grant will be allocated based on the drivers of need in your area in a fair and transparent way.

We will replace the decade old data, and for the first time, properly take into account factors such as deprivation and poverty

the cost of remoteness faced by rural communities – meaning bus drivers and refuse collectors have to travel miles to serve their communities.

We will take into account the varying ability to raise tax locally with lower house prices impacting on councils budgets

temporary accommodation and the impact of daytime visitors on major cities and coastal towns alike.

Taken together, this new approach supports every part of the country to manage their unique pressures.

And I’m impatient – as I know you are – for this change.

So alongside Minister McMahon, we will waste no time in putting things right to support places that lost out to rebuild those valued services and match money to need.

And true reform of local government means taking a long and serious look at the plumbing.

We won’t shy away from that.

That’s why my fourth on my list of Local Government is Local Government Reorganisation.

Now I can feel the anxiety levels in the room increasing at that phrase!!

But I think everyone in this room can agree that governments cannot keep passing the buck on this one.

If we are serious about shifting local government into a stronger footing…

And fit for the future

Delivering good services for residents

Then we must cut out this needless duplication.

We must take the brilliant leadership shown by district and county councillors, and move it to a simpler structure

with more resources for the frontline, and a clearer accountability for residents.

So many of you in this room have entered this process with an open mind and I want to thank you for your continued support as we navigate towards the end of a two-tier system in England.

You have my word, that Jim and I will work in partnership with you every step of the way.

Reforming local government also means learning from our mistakes as well as our successes.

And my fifth focus is on trusting local government to deliver services in-house.

Local government has long been the champion of insourcing – and I know too well about your efforts to innovate, and bring services in-house to lower costs and improve outcomes.

We hear you and are on your side.

That’s why we’re also delivering new procurement flexibilities for councils so you can confidently support your local businesses, and ensure that the investment and jobs stay local too.

We are working to undo the ideological presumption of outsourcing by default, as part of our plan to Make Work Pay.

The truth is that we’ve become hooked on short-term solutions – creating a costly dependence on external providers which can fail to deliver particularly for vulnerable people, young and old.

You’ve been telling us about your efforts to innovate, and bring services in-house to lower costs and improve outcomes.

With colleagues across government, we’ll introduce a quick and proportionate public interest test, to decide whether work could be done more effectively in house.

The consultation on insourcing launched last week and I have no doubt we will get a lot of responses from people here today!

I know what’s possible when local leaders have the powers to really deliver.

With local people seeing that change in their high streets, in the opportunities available to young people, and in their hopes for the future.

That’s why we’re shifting power out of Whitehall to our regions, and making devolution the default setting through our landmark English Devolution and Community Empowerment Bill.

It’s part of building a modern state, built on the foundations of a strong local government.

So, that all levels and in everything we’re doing – whether through devolution, fairer funding, trusting local government in-house, or giving authorities the certainty and freedom to deliver on what really matter.

We’re handing power back to where it belongs – to people with skin in the game.

Resetting, rebuilding, and renewing local government, through ambitious investment and reform, and, with it, our country, after the hardest of years, so that it, once again, works for working people.

That’s the difference a government makes.

That’s the difference you make in your Local communities every single day.

I’ve got your back. Let’s work together.

Thank you.

Updates to this page

Published 3 July 2025

MIL OSI United Kingdom –

July 4, 2025
Sensex, Nifty end lower amid consolidation, investors await India-US trade deal

Source: Government of India

Source: Government of India (4)

The Indian stock markets ended lower on Thursday after a day of cautious trading, as late selling pressure erased earlier gains. Investors remained watchful amid hopes of a possible trade agreement between the US and India.

The Sensex touched an intra-day high of 83,850 in early trade but eventually closed 170.22 points or 0.2 per cent lower at 83,239.7. Similarly, the Nifty also slipped by 48.1 points or 0.19 per cent, settling at 25,405.3 by the end of the session.

Markets traded volatile on the weekly expiry day and ended marginally lower, continuing the ongoing consolidation phase, said Ajit Mishra of Religare Broking Limited.

After an initial uptick, the Nifty oscillated sharply in both directions while remaining within Wednesday’s trading range, ultimately closing at 25,405.30.

“However, the overall trend remains bullish and is expected to stay intact unless the index decisively breaks below the 25,200-mark. On the upside, the 25,650–25,750 zone is likely to act as an immediate hurdle,” Mishra mentioned.

On the Sensex, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Trent, and State Bank of India were among the top losers. On the other hand, Maruti Suzuki India, Infosys, NTPC, Asian Paints, Hindustan Unilever, and Eternal were among the top gainers — helping limit the downside.

Broader markets showed subdued trends. The Nifty Midcap100 index managed to hold on to slight gains and closed flat with a positive bias. Following suit, the Nifty Smallcap100 index ended the day 0.26 per cent higher.

In contrast, the Nifty Smallcap100 index ended the day 0.26 per cent lower.

Among sectoral indices, the Nifty PSU Bank index was the biggest loser, falling 0.89 per cent due to selling pressure in stocks like Punjab National Bank, Union Bank of India, UCO Bank, and Central Bank of India.

Other sectors such as metals, realty, banking, and financial services also ended lower.

However, some pockets of the market saw buying interest. Sectors like media, auto, pharma, healthcare, consumer durables, oil & gas, and FMCG managed to close in the green.

Market experts said that investors are likely to remain cautious in the coming sessions, keeping a close eye on global trade developments, FII activity and key economic cues.

Meanwhile, the Indian rupee strengthened to its highest point in a month, primarily due to anticipated foreign capital inflows and a positive outlook on an impending trade agreement with the US.

“In the near term, the spot USD/INR exchange rate is expected to find support at 84.95, while encountering resistance at 85.70,” Dilip Parmar of HDFC Securities stated.

(IANS)

July 3, 2025
MIL-OSI Africa: Qatar Participates in 8th Plenary, Closing Sessions of Fourth International Conference on Financing for Development

Source: Government of Qatar

Seville, July 2, 2025

The State of Qatar has participated in the Eighth Plenary and Closing Sessions of the Fourth International Conference on Financing for Development, held in Seville, Spain.

HE Minister of State for International Cooperation Maryam bint Ali bin Nasser Al Misnad, represented the State of Qatar in both sessions.

The conference concluded with the adoption of a comprehensive document affirming that financing for development should not remain synonymous with traditional aid, but rather should transform into a sustainable investment approach that leads to the creation of opportunities and economic growth in developing countries.

The document noted that reforming the global financial system is an urgent necessity, including enhancing the representation of developing countries in international financial institutions, improving borrowing conditions to align with development capabilities, and imposing fair taxes on wealth and environmentally polluting activities.

The document noted that reducing inequality between and within countries can only be achieved through transparent and equitable financing that takes into account the needs of vulnerable and marginalized groups.

In this context, it emphasized that the global debt crisis must not impede development.

Therefore, the document supported innovative mechanisms, including debt-for-development or climate investment swaps, automatic debt service suspension in emergencies and disasters, and the establishment of a global debt registry to enhance transparency and accountability.

It is worth noting that the Doha 2023 Declaration established the framework for the principles of economic justice and support for least developed countries, while the Seville Declaration is expected to operationalize these principles through a multilateral implementation platform based on innovative financing tools and new development alliances.

The Doha 2023 Declaration affirmed the recognition of accumulated challenges and acknowledged that least developed countries are suffering from accumulated crises, including the repercussions of the COVID-19 pandemic, climate change, rising debt, lack of financing and investment, and fragile supply chains.

The Doha Declaration also included a comprehensive vision for development through 2031, encompassing a program of six priority tracks: investing in human capital (health, education, and social protection), accelerating digital transformation, addressing climate change and enhancing resilience, supporting integration into the global economy, strengthening governance and institutions, and mobilizing resources and concessional financing.

The Doha 2023 Declaration also called for enhancing access to concessional financing and grants, debt relief or cancellation, increasing the share of least developed countries in global trade, and accelerating the implementation of the Sustainable Development Goals (SDGs).

The Seville Declaration represents a pivotal link in a series of global initiatives and establishes a new phase of investment- and equity-based development financing, in preparation for the in-depth review of the international community’s commitments to least developed countries, which will be held in Doha next November.

MIL OSI Africa –

July 3, 2025
MIL-OSI Africa: Spaza Shop Support Fund campaign goes to Mpumalanga
Source: Government of South Africa

Thursday, July 3, 2025
The national awareness campaign on the Spaza Shop Support Fund is today in Volksrust, Mpumalanga.

Township-based entrepreneurs in the area will have an opportunity to engage directly with government and its partners on how to access vital support to grow and sustain their businesses.

Led by the Department of Trade, Industry and Competition (the dtic) and the Department of Small Business Development (DSBD), the ongoing campaign forms part of a national drive to raise awareness about available support for spaza shops and township convenience stores. It aims to close information gaps and bring services closer to communities.

Following successful stops in KwaZulu-Natal, Limpopo, North West, the Free State, and the Northern Cape, this leg targets entrepreneurs and spaza shop owners in the Dr. Pixley Ka Isaka Ka Seme Local Municipality and surrounding areas, who are often underserved but play a vital role in the local economy.

At the centre of the campaign is the R500 million Spaza Shop Support Fund, launched by Minister of Trade, Industry and Competition, Parks Tau and Minister of Small Business Development, Stella Ndabeni, in April 2025.

The fund is administered by the Small Enterprise Development and Finance Agency (SEDFA) and the National Empowerment Fund (NEF) agencies of the DSBD and the dtic, respectively.

Attendees in Volksrust will receive detailed guidance on how to apply for financial and non-financial assistance, including:
- Access to affordable stock through delivery partners.
- Infrastructure upgrades such as shelving, refrigeration and security.
- Point-of-sale devices.
- Business training on compliance, digital literacy, credit health and food safety.
- Market access support through partnerships with black industrialists and local manufacturers.
“The initiative aims to boost the competitiveness of township businesses and foster inclusive economic participation by bringing more informal retailers into the broader retail value chain,” the dtic said in a statement. – SAnews.gov.za
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MIL OSI Africa –
July 3, 2025
MIL-OSI: OMS Energy Technologies Inc. to Share Strategic Insights at the Third Annual ORY APAC-US Conference on Long-Term Growth

Source: GlobeNewswire (MIL-OSI)

OMS CEO How Meng Hock to Join Leadership Panel on July 8 at 10:20 a.m.

SINGAPORE, July 03, 2025 (GLOBE NEWSWIRE) — OMS Energy Technologies Inc. (“OMS” or the “Company”) (Nasdaq: OMSE), a growth-oriented manufacturer of surface wellhead systems (“SWS”) and oil country tubular goods (“OCTG”) for the oil and gas industry, today announced that its CEO Mr. How Meng Hock will join a leadership panel at the Third Annual ORY APAC-US Conference, taking place on July 8–9, 2025, in Singapore.

Mr. How will participate in the opening panel session, titled “The Long Game: Building Businesses with Staying Power,” where he will share insights on navigating economic cycles, fostering a resilient corporate culture and delivering sustainable long-term value.

Founded in 1972, OMS has grown into a trusted regional partner serving key energy markets across Asia Pacific, the Middle East and North Africa (MENA), and West Africa. Mr. How has led the Company as CEO since 2014 and oversaw its successful Nasdaq listing in May 2025. Following the IPO, OMS continues to accelerate its growth, supported by strong operational capabilities and a commitment to engineering excellence. The Company remains focused on deepening its long-standing customer relationships and investing in advanced manufacturing and R&D to drive innovation, efficiency and sustainable growth, all while maintaining an exceptional corporate culture.

Ortoli Rosenstadt LLP and the Nasdaq Stock Market co-host the conference. It serves as a platform for global collaboration and dialogue on innovation and capital market strategy, bringing together financial professionals, investors and corporate leaders for two days of high-level discussions and strategic networking in one of Asia’s premier financial hubs.

About OMS Energy Technologies Inc.

OMS Energy Technologies Inc. (NASDAQ: OMSE) is a growth-oriented manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG) for the oil and gas industry. Serving both onshore and offshore exploration and production operators, OMS is a trusted single-source supplier across six vital jurisdictions in the Asia Pacific, Middle Eastern and North African (MENA) regions. The Company’s 11 strategically located manufacturing facilities in key markets ensure rapid response times, customized technical solutions and seamless adaptation to evolving production and logistics needs. Beyond its core SWS and OCTG offerings, OMS also provides premium threading services to maximize operational efficiency for its customers.

For more information, please visit ir.omsos.com.

For investor and media inquiries, please contact:

OMS Energy Technologies Inc.
Investor Relations
Email: ir@omsos.com

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: oms@thepiacentegroup.com

Hui Fan
Tel: +86-10-6508-0677
Email: oms@thepiacentegroup.com

The MIL Network –

July 3, 2025
MIL-OSI: OMS Energy Technologies Inc. to Share Strategic Insights at the Third Annual ORY APAC-US Conference on Long-Term Growth

Source: GlobeNewswire (MIL-OSI)

OMS CEO How Meng Hock to Join Leadership Panel on July 8 at 10:20 a.m.

SINGAPORE, July 03, 2025 (GLOBE NEWSWIRE) — OMS Energy Technologies Inc. (“OMS” or the “Company”) (Nasdaq: OMSE), a growth-oriented manufacturer of surface wellhead systems (“SWS”) and oil country tubular goods (“OCTG”) for the oil and gas industry, today announced that its CEO Mr. How Meng Hock will join a leadership panel at the Third Annual ORY APAC-US Conference, taking place on July 8–9, 2025, in Singapore.

Mr. How will participate in the opening panel session, titled “The Long Game: Building Businesses with Staying Power,” where he will share insights on navigating economic cycles, fostering a resilient corporate culture and delivering sustainable long-term value.

Founded in 1972, OMS has grown into a trusted regional partner serving key energy markets across Asia Pacific, the Middle East and North Africa (MENA), and West Africa. Mr. How has led the Company as CEO since 2014 and oversaw its successful Nasdaq listing in May 2025. Following the IPO, OMS continues to accelerate its growth, supported by strong operational capabilities and a commitment to engineering excellence. The Company remains focused on deepening its long-standing customer relationships and investing in advanced manufacturing and R&D to drive innovation, efficiency and sustainable growth, all while maintaining an exceptional corporate culture.

Ortoli Rosenstadt LLP and the Nasdaq Stock Market co-host the conference. It serves as a platform for global collaboration and dialogue on innovation and capital market strategy, bringing together financial professionals, investors and corporate leaders for two days of high-level discussions and strategic networking in one of Asia’s premier financial hubs.

About OMS Energy Technologies Inc.

OMS Energy Technologies Inc. (NASDAQ: OMSE) is a growth-oriented manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG) for the oil and gas industry. Serving both onshore and offshore exploration and production operators, OMS is a trusted single-source supplier across six vital jurisdictions in the Asia Pacific, Middle Eastern and North African (MENA) regions. The Company’s 11 strategically located manufacturing facilities in key markets ensure rapid response times, customized technical solutions and seamless adaptation to evolving production and logistics needs. Beyond its core SWS and OCTG offerings, OMS also provides premium threading services to maximize operational efficiency for its customers.

For more information, please visit ir.omsos.com.

For investor and media inquiries, please contact:

OMS Energy Technologies Inc.
Investor Relations
Email: ir@omsos.com

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: oms@thepiacentegroup.com

Hui Fan
Tel: +86-10-6508-0677
Email: oms@thepiacentegroup.com

The MIL Network –

July 3, 2025
MIL-OSI United Kingdom: Homes England supports Greencore Homes to build new affordable sustainable homes in Oxfordshire
Source: United Kingdom – Executive Government & Departments

News story

Homes England supports Greencore Homes to build new affordable sustainable homes in Oxfordshire

£8 million development finance loan will help SME housebuilder as it seeks to reach its ambitious target to build 10,000 better than net zero homes by 2035.
Homes England has partnered with Greencore Homes, a sustainable housebuilder constructing better than net zero homes, to provide £8 million of funding to support the delivery of Greencore’s 42-home scheme, Milton Heights, in Oxfordshire.

The partnership reaffirms Homes England’s commitment to aid the delivery of more eco-friendly, low-carbon homes, while enabling Greencore to drive forward its delivery of low-carbon homes, creating climate positive places as it rapidly increases the number of homes it is delivering.

It also marks another significant milestone for Greencore at Milton Heights, where the Deputy Prime Minister, Angela Rayner, recently announced the government’s new measures to turbocharge housebuilding for small and medium-sized enterprise (SME) builders.

The finance comes from Homes England’s Home Building Fund, which is designed to support SME housebuilders to build more homes, more quickly and to create thriving communities. It also aims to encourage innovative methods of construction in housebuilding like the homes being built by Greencore at Milton Heights.

Currently under construction, Milton Heights will deliver 42 homes in a development that will prioritise increased access to green spaces, as well as safe and considered walking and cycling routes, serving both residents and the broader community.

Designed by HTA Design, the landscape-led scheme enhances the existing setting and incorporates a mix of 27 open market and 15 affordable homes, located just under three miles from Didcot Parkway Station.

Built to Passivhaus standards using Greencore’s innovative Biond panels that lock up more carbon than they emit, these homes will target ultra-low embodied carbon overall and a net zero energy balance in occupation. Assembled on site, the panels also enable rapid and efficient construction, accelerating project delivery and directly addressing the UK’s housing shortage.

Alongside the existing £45 million equity investment from majority shareholder M&G, this funding will support Greencore as it seeks to reach its ambitious target to build 10,000 better than net zero homes by 2035.

Marcus Ralling, Chief Investments Officer at Homes England, said:

The completion of this £8 million development finance facility is a perfect example of where intervention from Homes England can help to unlock housing delivery by providing financial support for ambitious SME housebuilders like Greencore to build more environmentally friendly and low-carbon homes.

Jon Di-Stefano, CEO of Greencore Homes, said:

This partnership with Homes England represents a pivotal moment for Greencore and our delivery of 42 sustainable homes at Milton Heights. As we continue to drive housing delivery to reach our target of 10,000 homes by 2035, partnerships such as this with Homes England will be essential. We look forward to hopefully working together again in the future, to continue to develop climate positive places together

For media enquiries, please contact:

greencore@ing-media.com

About Homes England

We are the government’s housing and regeneration Agency, and we’re here to drive the creation of more affordable, quality homes and thriving places so that everyone has a place to live and grow.

We make this happen by working in partnership with thousands of organisations of all sizes, using our powers, expertise, land, capital and influence to bring investment to communities and get more quality homes built.

Learn more about how the Home Building Fund is helping SMEs to create a diverse and resilient housing sector

About Greencore Homes

Greencore Homes builds homes that are better than net zero and develops climate positive places. With significant investment from M&G’s Catalyst fund, strong relationships with partners and an experienced senior leadership team, Greencore aims to build 10,000 homes by 2035.

https://greencorehomes.co.uk/

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Published 3 July 2025
MIL OSI United Kingdom –
July 3, 2025

Category: Finance

IMF Communications Department

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Suspected people smuggling gang taken down in nationwide strikes

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Local Government Association Conference 2025

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Homes England supports Greencore Homes to build new affordable sustainable homes in Oxfordshire

For media enquiries, please contact:

About Homes England

About Greencore Homes

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